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Why Bitcoin is Superior to Gold

There is a constant war being fought between goldbugs, like Peter Schiff, and Bitcoin enthusiasts so I decided to make an outline, with links, comparing and contrasting gold and Bitcoin. I made this in November of 2019 (thus the information therein is based on figures from that time) but, being scatter brained, neglected to post this for the Bitcoin community to see. The yardsticks I used to compare the two assets included the following: shipping/transactions costs, storage costs, censorship factor, settlement time, stock to flow, blockchain vs clearing house, validation, etc. I will also touch on Roosevelt's gold confiscation executive order in 1933, transporting gold during the Spanish Civil War in 1936, and the hypothetical cost for Venezuela to repatriate its gold more recently.
I will provide a brief summary first then follow that with the outline I made. This information can be used as a tool for the Bitcoin community to combat some of the silly rhetoric coming from goldbugs such as Peter Schiff and James Rickards. I would like to make it clear, however, that I am not against gold and think that it performed its role as money very well in a technologically inferior era, namely Victorian times but I think Bitcoin performs the functions of money better than gold does in the current environment.
I have been looking to make a contribution to the Bitcoin community and I hope this is a useful and educational tool for everyone who reads this.
Summary:
Shipping/transaction costs: 100 ounces of gold could be shipped for 315 dollars; the comparable dollar value in Bitcoin could be sent for 35 dollars using a non-segwit address. Using historical precendent, it would cost an estimated $32,997,989 to transport $1 billion in gold using the 3.3% fee that the Soviets charged the Spaniards in 1936; a $1 billion Bitcoin transaction moved for $690 last year by comparison. Please note that the only historic example we can provide for moving enormous sums of gold was when the government of Spain transported gold to Moscow during the Spanish Civil War in 1936. More information on this topic will be found in the notes section.
Storage costs: 100 ounces of gold would require $451 per year to custody while the equivalent value of Bitcoin in dollar terms could be stored for the cost of a Ledger Nano S, $59.99. $1 billion USD value of gold would cost $2,900,000 per year while an Armory set up that is more secure would run you the cost of a laptop, $200-300.
Censorship factor: Gold must pass through a 3rd party whenever it is shipped, whether for a transaction or for personal transportation. Gold will typically have to be declared and a customs duty may be imposed when crossing international borders. The key take-away is gatekeepers (customs) can halt movement of gold thus making transactions difficult. $46,000 of gold was seized in India despite the smugglers hiding it in their rectums.
Settlement time: Shipping gold based on 100 ounces takes anywhere from 3-10 days while Bitcoin transactions clear in roughly 10 minutes depending on network congestion and fee size.
Historic confiscation: Franklin Roosevelt confiscated and debased the paper value of gold in 1933 with Executive Order 6102. Since gold is physical in nature and value dense, it is often stored in custodial vaults like banks and so forth which act as a honeypot for rapacious governments.
Stock to flow: Plan B's stock to flow model has become a favorite on twitter. Stock to flow measures the relationship between the total stock of an asset against the amount that is produced in a given year. Currently gold still has the highest value at 62 while Bitcoin sits at 50 in 2nd place. Bitcoin will overtake gold in 2024 after the next halving.
Blockchain vs clearing house: gold payments historically passed through a 3rd party (clearinghouse) in order to be validated while Bitcoin transactions can be self validated through the use of a node.
Key Takeaway from above- Bitcoin is vastly superior to gold in terms of cost, speed, and censorship resistance. One could theoretically carry around an enormous sum of Bitcoin on a cold card while the equivalent dollar value of gold would require a wheelbarrow...and create an enormous target on the back of the transporter. With the exception of the stock to flow ratio (which will flip in Bitcoin's favor soon), Bitcoin is superior to gold by all metrics covered.
Notes:
Shipping/transaction costs
Gold
100 oz = 155,500. 45 x 7 = $315 to ship 100 oz gold.
https://seekingalpha.com/instablog/839735-katchum/2547831-how-much-does-it-cost-to-ship-silver-and-gold
https://www.coininvest.com/en/shipping-prices/
211 tonnes Venezuela; 3.3% of $10.5 billion = 346,478,880 or 32,997,989/billion usd
http://blogs.reuters.com/felix-salmon/2011/08/23/how-to-get-12-billion-of-gold-to-venezuela/ (counter party risk; maduro; quotes from article)
Bitcoin
18 bitcoin equivalent value; 35 USD with legacy address
https://blockexplorer.com/
https://bitcoinfees.info/
1 billion; $690 dollars
https://arstechnica.com/tech-policy/2019/09/someone-moved-1-billion-in-a-single-bitcoin-transaction/
Storage costs
Gold
.29% annually; https://sdbullion.com/gold-silver-storage
100 oz – $451/year
$1 billion USD value – $2,900,000/year
Bitcoin
Ledger Nano S - $59.00 (for less bitcoin)
https://shop.ledger.com/products/ledger-nano-s/transparent?flow_country=USA&gclid=EAIaIQobChMI3ILV5O-Z5wIVTtbACh1zTAwqEAQYASABEgJ5SPD_BwE
Armory - $200-300 cost of laptop for setup
https://www.bitcoinarmory.com/
Censorship factor (must pass through 3rd party)
Varies by country
Gold will typically have to be declared and a customs duty may be imposed
Key take-away is gatekeepers (customs) can halt movement of gold thus making transactions difficult
$46,000 seized in India
https://www.foxnews.com/travel/indian-airport-stops-29-passengers-smuggling-gold-in-their-rectums
Settlement time
Gold
For 100 oz transaction by USPS 3-10 days (must pass through 3rd party)
Bitcoin
Roughly 10 minutes to be included in next block
Historic confiscation-roosevelt 1933
Executive Order 6102 (forced spending, fed could ban cash, go through and get quotes)
https://en.wikipedia.org/wiki/Executive_Order_6102
“The stated reason for the order was that hard times had caused "hoarding" of gold, stalling economic growth and making the depression worse”
Stock to flow; https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25 (explain what it is and use charts in article)
Gold; SF of 62
Bitcoin; SF of 25 but will double to 50 after May (and to 100 in four years)
Blockchain vs clearing house
Transactions can be validated by running a full node vs. third party settlement
Validation
Gold; https://www.goldismoney2.com/threads/cost-to-assay.6732/
(Read some responses)
Bitcoin
Cost of electricity to run a full node
Breaking down Venezuela conundrum; http://blogs.reuters.com/felix-salmon/2011/08/23/how-to-get-12-billion-of-gold-to-venezuela/
“The last (and only) known case of this kind of quantity of gold being transported across state lines took place almost exactly 75 years ago, in 1936, when the government of Spain removed 560 tons of gold from Madrid to Moscow as the armies of Francisco Franco approached. Most of the gold was exchanged for Russian weaponry, with the Soviet Union keeping 2.1% of the funds in the form of commissions and brokerage, and an additional 1.2% in the form of transport, deposit, melting, and refining expenses.”
“Venezuela would need to transport the gold in several trips, traders said, since the high value of gold means it would be impossible to insure a single aircraft carrying 211 tonnes. It could take about 40 shipments to move the gold back to Caracas, traders estimated. “It’s going to be quite a task. Logistically, I’m not sure if the central bank realises the magnitude of the task ahead of them,” said one senior gold banker.”
“So maybe Chávez intends to take matters into his own hands, and just sail the booty back to Venezuela on one of his own naval ships. Again, the theft risk is obvious — seamen can be greedy too — and this time there would be no insurance. Chávez is pretty crazy, but I don’t think he’d risk $12 billion that way.”
“Which leaves one final alternative. Gold is fungible, and people are actually willing to pay a premium to buy gold which is sitting in the Bank of England’s ultra-secure vaults. So why bother transporting that gold at all? Venezuela could enter into an intercontinental repo transaction, where it sells its gold in the Bank of England to some counterparty, and then promises to buy it all back at a modest discount, on condition that it’s physically delivered to the Venezuelan central bank in Caracas. It would then be up to the counterparty to work out how to get 211 tons of gold to Caracas by a certain date. That gold could be sourced anywhere in the world, and transported in any conceivable manner — being much less predictable and transparent, those shipments would also be much harder to hijack. How much of a discount would a counterparty require to enter into this kind of transaction? Much more than 3.3%, is my guess. And again, it’s not entirely clear who would even be willing to entertain the idea. Glencore, perhaps?”
“But here’s one last idea: why doesn’t Chávez crowdsource the problem? He could simply open a gold window at the Banco Central de Venezuela, where anybody at all could deliver standard gold bars. In return, the central bank would transfer to that person an equal number of gold bars in the custody of the Bank of England, plus a modest bounty of say 2% — that’s over $15,000 per 400-ounce bar, at current rates. It would take a little while, but eventually the gold would start trickling in: if you’re willing to pay a constant premium of 2% over the market price for a good, you can be sure that the good in question will ultimately find its way to your door. And the 2% cost of acquiring all that gold would surely be much lower than the cost of insuring and shipping it from England. It would be an elegant market-based solution to an artificial and ideologically-driven problem; I daresay Chávez might even chuckle at the irony of it. He’d just need to watch out for a rise in Andean banditry, as thieves tried to steal the bars on their disparate journeys into Venezuela.”
submitted by cornish_roots to Bitcoin [link] [comments]

[WTS] $5 Liberty Head, French ROOSTERS, Swiss francs, fractional gold, TONs of silver: Libertad, AZTECS, KILOS, pesos, All SIZE bars, Mercs! I take bitcoin & crypto.

Something for EVERYONE today, enjoy & happy fathers day to all the dads & sugar daddies.
Proofity Proof with VIDEO!!
Payment Bitcoin or Crypto get priority! (include "Paying Crypto" in PM title to move to the front of the line). Else I'll accept Venmo, CashApp, Google Pay, or PayPalFF NO COMMENTS!
Minimum Order: $100, If you are a bit under that's fine.
Shipping is $5 for less than 8oz else $8 for Priority.
Item Number QTY Description Total Weight Price Compare at:
GOLD
G1 1 1886-S $5 Liberty Half Eagle 0.24 oz SOLD $525+ tax @ Apmex
G2 1 2019 St Kitts and Nevis BROWN PELICAN! BU in assy w/ certilock technology. 9999 gold only 2500 minted 1 oz SOLD $1861 + 2 month wait @ Scottsdale
G3 3 (2) PAMP Lady Fortuna Swiss 9999 gold, (1) Sunshine Mint 9999 gold 5 g SOLD $325 + tax @ SDBullion
G4 12 20 Gold French Rooster 20 Francs: 1906, (1 3) 1907, (2 4) 1908, 1909, 1910, 1911, (2 3) 1912, (2 3) 1913, (2 3) 1914 0.1867 oz $350 shipped $377 + tax @ Apmex
G5 1 1855 France Gold 20 Francs Napoleon III 0.1867 oz SOLD $348 + tax @ JM Bullion
G6 3 11 1911, (2 4) 1927 B, (1) 1930 B, (3) 1935 LB, 1947 B Swiss Gold 20 Francs Helvetica 0.1867 oz 345 shipped $348 + tax @ JM Bullion
G7 2 Canada 1979 Children's Day Gold PROOF Coins 0.5 oz SOLD $927 + tax @ Apmex
G8 1 1976 Austria 1000 Schillings Gold BU 0.391 oz SOLD *$740 + tax @ Apmex
G9 100 Swiss Gold: Valcambi Gold CombiBar 1 g SOLD
G+S10 12 20 2020 Canadian Collectors! 2020 1g 9999 purity Canadian Gold Maplegram + 2020 1oz 9999 purity Canadian Silver Maple 1 g Gold + 1oz Silver $95 Shipped!!
SILVER
S1 1 KING Scottsdale Stacker, ordered 2 months ago and just received. These are hard to find, I resisted the urge to peal the plastic cover so you can have the honor 100 oz SOLD out of stock everywhere
S2 4 KILO Scottsdale Stacker, ordered 2 months ago and just received. These are hard to find, I resisted the urge to peal the plastic cover so you can have the honor 1 kg SOLD skip the 2+ month wait
S3 2 3 10oz Scottsdale Stacker, ordered 2 months ago and just received. These are hard to find 10oz $215 + shipping skip the 2+ month wait
S4 3 6 2020 BAT COIN! ATB National Park of American Samoa Silver Coin + First 5 get a free 1 (clad) 2020 bat coin quarter 5 oz $125 shipped none, won’t come with hard to find quarter
S5 10 20 2020 Premium Silver Stacker Paradise - 1 2020 ASE + 1 2020 Maple + 1 2020 Philharmonic + 1 2020 Britannia + 1 2020 Britain Silver Royal Arms + 1 2020 Niue Owl 6 oz $145 shipped $200+ to build your own set
S6 41 55 2020 Britannia 1 oz $23.50 ea or $565/tube of 25 + shipping
S7 5 2020 Britain Silver Royal Arms 1 oz SOLD
S8 43 80 2020 Niue Owl, the only stackable coins to prevent damage in storage!! 1 oz $22ea or $435/tube of 20 + shipping
S9 5 2018 Libertad BU in capsule 1 oz SOLD
S10 1 1982 Libertad in sleeve 1 oz SOLD
S11 3 1859-1959 5 Mexican Pesos Carranza anniversary in sleeve .4179 oz SOLD
S12 1 Britannia bar in capsule 10 oz SOLD
S13 2 10 oz Texas Mint Silver Bar (New) 10 oz $220 + shipping sold out everywhere
S14 1 AZTEC Calendar Bar large 10 oz SOLD sold out everywhere
S15 1 AZTEC Calendar Bar medium in capsule 5 oz SOLD sold out everywhere
S16 1 Vintage Prospector bar 5 oz $120 + shipping sold out everywhere
S17 1 Vintage Golden State Mint bar in capsule 5 oz $120 + shipping sold out everywhere
S18 1 AZTEC Calendar bar, small in capsule 1 oz SOLD sold out everywhere
S19 1 AZTEC Calendar bar, small in capsule 1 oz SOLD sold out everywhere
S20 2 AZTEC Calendar round, capsule 5 oz SOLD sold out everywhere
S21 1 AZTEC Calendar round, capsule 2 oz $57 + shipping sold out everywhere
S22 20 AZTEC Calendar round, capsule 1 oz $23.50 + shipping
S23 3 4 1984 Engelhard Prospectors, in capsule. Amazing coins!!! 1 oz $23 + shipping
S24 8 16 Made and Mined in AMERICA!! 2020 True Patriot rounds in capsule 1 oz $21.50 + shipping
S25 7 8 2013 Australian Lunar Series II Snake 0.5oz 0.5 oz $17 + shipping
S26 5 6 2017 Australian Lunar Series II Rooster 0.5oz 0.5 oz $17 + shipping
S27 9 10 2016 Australian Lunar Series II Monkey 0.5oz 0.5 oz $17 + shipping
S28 34 2018 Australian Lunar Series II Dog 0.5oz 0.5 oz $17 + shipping
S29 21 Mixed date Canadian Silver Maples 1oz $22.5 + shipping ea or $445 shipped
S30 1 Tube of 25 Mixed date Canadian Silver Maples 25 oz SOLD
S31 11 2015 1.5 oz $8 Canadian Silver Polar Bear and Cub Coin (BU) in capsule 1.5 oz $32 + shipping
S32 15 20 $5FV Mercury “Mercs” 90% Dimes - VERY NICE 3.575 oz $80 + shipping
S33 1 $3.5FV Mercury “Mercs” 90% Dimes 2.5 oz $56 + shipping
S34 1 $3.4FV Roosevelt 90% Dimes 2.43 oz $50 + shipping
S35 40 Individual Washington 90% Quarters, ADD to any order 0.179 oz SOLD
S36 23 25 Jefferson War Nickel, ADD to any order! 0.056 oz $1.25
submitted by ShadyApp to Pmsforsale [link] [comments]

[WTS] American Platinum & Gold, World Gold, Silver, Libertads, ONZAS, Large Bars, & Junk

Something for everyone today, enjoy!
Proofity Proof!!
Payment Bitcoin or Crypto get priority! (include "Paying Crypto" in PM title to move to the front of the line). Else I'll accept Venmo, CashApp, Google Pay, or PayPalFF NO COMMENTS!
Minimum Order: $100, If you are a bit under that's fine.
Shipping is $5 for less than 8oz else $8 for Priority.
Item Number QTY Description Total Weight Price Compare at:
PLATINUM
P1 1 2006 American Platinum Eagle BU in capsule .25 oz SOLD $334 + tax @ SD Bullion
GOLD
G1 1 2016 American Gold Eagle BU in capsule 0.1 oz SOLD $249 + tax @ Apmex
G2 1 2019 St Kitts and Nevis BROWN PELICAN! BU in assy w/ certilock technology 1 oz $1810 shipped $1825 + 2 month wait @ Scottsdale
G3 3 (2) PAMP Lady Fortuna Swiss 9999 gold, (1) Sunshine Mint 9999 gold 5 g $315 shipped $320 + tax @ SDBullion
G4 1 1855 France Gold 20 Francs Napoleon III 0.1867 oz $340 shipped *$348 + tax @ JM Bullion
G5 5 8 (1) 1912 B, ( 1 2) 1927 B, (1) 1930 B, ( 1 3) 1935 LB, (1) 1947 B Swiss Gold 20 Francs Helvetica 0.1867 oz $343 shipped *$348 + tax @ JM Bullion
G6 2 Canada 1979 Children's Day Gold PROOF Coins 0.5 oz $890 shipped $920 + tax @ Apmenx
G7 1 1976 Austria 1000 Schillings Gold BU 0.391 oz $695 shipped *$708 + tax @ JMBullion
G8 100 Swiss Gold: Valcambi Gold CombiBar 1 g $72 ea for fewer than 3 or $68 ea for more than 3 shipped No
G+S9 15 20 2020 Canadian Collectors! 2020 1g 9999 purity Canadian Gold Maplegram + 2020 1oz 9999 purity Canadian Silver Maple 1 g Gold + 1oz Silver $100 Shipped!! No
SILVER
S1 1 Huge Scottsdale Stacker, ordered 2 months ago & just received. These are hard to find, I resisted the urge to peal the plastic cover so you can have the honor! 100 oz $2095 shipped out of stock everywhere
S2 6 2020 BAT COIN! ATB National Park of American Samoa Silver Coin + First 3 get a free 1 (clad) 2020 bat coin quarter 5 oz $128 shipped none, won’t come with hard to find quarter
S3 11 20 2020 Premium Silver Stacker Paradise - 1 2020 ASE + 1 2020 Maple + 1 2020 Philharmonic + 1 2020 Britannia + 1 2020 Britain Silver Royal Arms + 1 2020 Niue Owl 6 oz $145 shipped $200+ to build your own set
S4 100 Austrian 2020 Philharmonics 1 oz SOLD
S5 43 55 2020 Britannia 1 oz $23.50 ea or $565/tube of 25 + shipping
S6 2 5 2020 Britain Silver Royal Arms 1 oz $23.50 ea + shipping
S7 43 80 2020 Niue Owl, the only stackable coins to prevent damage in storage!! 1 oz $22ea or $435/tube of 20 + shipping
S8 8 1970’s Mexico ONZAs! (Precursor to Libertads) 1 oz SOLD
S9 1 2019 Libertad BU in capsule 5 oz SOLD
S10 4 5 2018 Libertad BU in capsule 1 oz $28 + shipping
S11 2 2014, 2016 Libertad in sleeve 1 oz SOLD
S12 3 1859-1959 5 Mexican Pesos Carranza anniversary in sleeve .4179 oz $17 + shipping
S13 1 Britannia bar 10 oz $230 shipped
S14 1 Prospector or Golden State Mint vintage bars 5 oz $120 shipped
S15 3 4 1984 Engelhard Prospectors, amazing coins!!! 1 oz $23 + shipping
S16 14 16 Made and Mined in AMERICA!! 2020 True Patriot rounds 1 oz $21.50 + shipping
S17 1 Nice Peace Dollar lot, 14 coins shipped in tube 10.01 oz SOLD
S18 1 $6FV Nice Walking Liberty 90% Half Dollars 4.29 oz SOLD
S19 1 $9FV Franklin 90% Half Dollars 6.435 oz SOLD
S20 4.75 $10FV Nice Washington 90% Quarters, great shape 7.15 oz SOLD
S21 10 40 Individual Washington 90% Quarters, ADD to any order! 0.179 oz $3.5 + shipping
S22 16 20 $5FV Mercury “Mercs” 90% Dimes - VERY NICE 3.575 oz $80 + shipping
S23 1 $3.5FV Mercury “Mercs” 90% Dimes 2.5 oz $56 + shipping
S24 1 $3.4FV Roosevelt 90% Dimes 2.43 oz $50 + shipping
S23 18 $2FV Jefferson War Nickel - great shape! 2.25 oz SOLD
submitted by ShadyApp to Pmsforsale [link] [comments]

All about Koinpro

As crypto evolves and improves, services like KoinPro, that go beyond crypto and boasts of multiple futures contracts run up with its own unique features and benefits. Bitcoin Futures, Contracts for Difference are complex instruments. Trading these financial products carries a high level of risk since leverage can work both to your advantage and disadvantage as always. These assets are precious metals, oil etc.
Gold Spot
Spot gold trading, as offered by Koinpro, is just the online buying or selling gold at the live price with no market makers or brokers in spot gold trading. Spot gold traders can buy or sell fractional amounts of gold bars, ingots or coins. The spot price, as opposed to a futures contract, of a precious metal like Gold (XAU) or Silver (XAG) is the cash price of that metal in the market at the current point in time. Precious metal trading is the act of exchanging Gold or Silver spot prices for a major currency. An example of this is the pair XAGEUR (trades Silver against the Euro), or XAUGBP (Gold against the British Pound). Key benefits of trading precious metals Widely regarded as potential safe havens Good for diversifying your investment portfolio Popular trading choices during times of volatility
The Dow Jones Index
This is a stock market index that measures the stock performance of 30 large companies listed on stock exchanges in the United States. Although it is one of the most commonly followed equity indices, many consider the Dow to be an inadequate representation of the overall U.S. stock market compared to broader market indices such as the S&P 500 Index or Russell 3000 because it only includes 30 large cap companies, is not weighted by market capitalization, and does not use a weighted arithmetic mean.
The Euro Stoxx 50 Index
This index integrates 50 stocks from 11 Eurozone countries. The index is licensed to financial institutions to serve as an underlying for a wide range of investment products such as exchange-traded funds (ETFs), futures, options and structured products.
WTI Crude Oil
(WTI) West Texas Intermediate is a grade or a mix of crude oil, and/or the spot price, the futures price, or the assessed price for that oil; colloquially WTI usually refers to the price of the New York Mercantile Exchange (NYMEX) WTI Crude Oil futures contract or the contract itself. The WTI oil grade is also known as Texas light sweet, although oil produced from any location can be considered WTI if the oil meets required qualifications.[1] Spot and futures prices of WTI are used as a benchmark in oil pricing. This grade is described as light crude oil because of its relatively low density, and sweet because of its low sulfur content.
https://koinpro.com/
https://bitcointalk.org/index.php?topic=5219842
submitted by redoc77 to Crypto_General [link] [comments]

Why Ethereum will flippen BTC

1) BTC is designed to have hype cycles. As we near halvening in May 2020, this will draw in more and more speculators and money. Barring a black swan event, this is almost guaranteed.
2) Much of the world's population isn't rich enough to own a full BTC, regardless of whether it's trading at $10K, $20K or $50K. At this price level, unless BTC is re-denominated in satoshis, it will gradually look more and more expensive (per unit).
3) Many normies still do not recognize the concept of being able to own <1 full BTC, and will choose to look down the list for the next best, legit coin.
4) Even if they know BTC is subdivisible, they would rather psychologically want to own one full unit of something (that's just human nature)
5) Ethereum has the best chance of being the next-in-line due to its heavy mindshare and its relative "cheapness" vs BTC's humongous number, while not going down the list too far. This will amplified by the media turning its attention to Ethereum as the dominant smart contract platform, with DeFi + entreprise adoption finally gaining serious traction.
6) How many of us have once balked at Berkshire's enormous share price? Bitcoin's price will rise to a price which will make owning 1 BTC unimaginable for the non-1-percenters, and the spillover capital will be massive.
7) ETH will be the silver to Bitcoin's gold. Let's put aside comparing its utility; there is always a silver to gold, even if Bitcoin continues to remain #1. In a raging precious metal bull market, silver outperforms gold by a few folds (check the famous XAG/XAU ratio). Speculators love silver for this reason.
8) During the mania phase, this ratio may even exceed 0.17 (where ETH flippens BTC) as while BTC's supply can be dumped on the market at any point of time, once PoS is live, some ETH will be permanently locked away forever (in the form of dynastic crypto-wealth), and will never enter circulation again.
9) There is always a price for BTC (even if its not for fiat) but at a sufficiently high valuation, where a hodler may choose to trade some BTC away from real estate, as another form of SoV. However, if ETH is the dominant smart contract, then there is only one such smart contract platform in the world. Most of the 120m ETH will be permanently staked to generate a yield, staking your undilutable claim on the "world computer" .
10) Just like trophy real estate, once your family owns Building XXX or Castle XXX, trust structures hold the dynastic wealth through generations and simply live off the yield it generates. Control over Ethereum will push prices into the stratosphere.

THERE IS SIMPLY NO SUBSTITUTE FOR ETHEREUM if it wins the platform wars.
BITCOIN WILL CONTINUE TO HAVE TO CONTEND WITH REAL ESTATE.

In the very long-term (30-50 years), I see Bitcoin achieving $500k+ ($9 trillion cap) or 2.5% of the world's wealth. Ethereum will be worth more. Ethereum will not only capture some of the SoV wealth, it will create completely new wealth from ideas we cant' even dream of today (just as the Internet created $100 trillion+ of new wealth).

Hodl strong, because we're going to $160,000 per ETH. ($20 trillion cap)
submitted by laobuggier to ethtrader [link] [comments]

Bitcoin at $136,000: Can it become the new gold standard?

Over the past year, Bitcoin’s been on a wild ride from a low of $1,183 to a peak of $19,401.
With Bitcoin’s skyrocketing prices, detractors from J.P. Morgan chief Jamie Dimon (“[Bitcoin] is a fraud”) to Berkshire Hathaway CEO Warren Buffett (“I can say almost with certainty that [cryptocurrencies] will come to a bad ending”) have been quick to decry the digital currency as a bubble.
Predicting a crypto bubble has become the latest trend as Bitcoin and other currencies have risen meteorically. In spite of this, Bitcoin has shown that it is still a new asset with room to grow.
Bitcoin’s current market cap of $134 billion, is massive compared to most companies, and even some countries. But this pales in significance compared to traditional assets like gold. If Bitcoin becomes a widely accepted store of value, it may one day replace some of the functions of gold in the market.
Today, there is an estimated 190,040 tonnes of gold above ground in the world, with 54,000 known reserves below ground that can be mined. At today’s rate of $1,335 per ounce, that means there’s around $11.5 trillion worth of gold in the world that we know about.
Imagine that Bitcoin replaces 25% of today’s gold market. Bitcoin would leapfrog another 17x above today’s current prices.
Here’s some (very rough) back-of-the-paper-wallet math:
25% of $11.5 trillion gold reserves = $2.86 trillion $1.975 trillion market cap of bitcoin / 21 million bitcoin = 136,190 price per bitcoin While this scenario may seem extremely far-fetched, it’s not completely out of the realm of reality. In this article, we’ll look at some of the key characteristics that Bitcoin shares with gold that make it useful as a store of value and speculate around how Bitcoin might eat into the dominance of gold.
What is a Store of Value? Skeptics like to point out that Bitcoin isn’t that useful as a currency. It can have high fees, long transaction times, and comes with numerous security risks. It’s still much easier to pay for goods and services with a credit card than sending bitcoin to someone’s public address.
Yet all these things actually make Bitcoin similar to something people have valued for thousands of years: gold.
Gold has certain properties that make it useful. It conducts electricity well, and it looks pretty. But if you compare gold to more common metals such as copper or nickel, it’s actually a lot less useful for making things — it bends too easily.
The main utility of gold is that it functions as a store of value. Because gold is extremely scarce and expensive to produce it tends to retain value over time. If you buy gold today, you’ll likely be able to exchange it for a similar amount in the future.
To understand how gold functions as a store of value and how Bitcoin might replace it, we have to dig deeper into the history of gold.
A Brief Primer on Gold Gold has been valued and used as a store of value for millennia. The first known use of gold as currency began several thousand years ago in Asia.
Even with the widespread adoption of paper currency in the form of bank notes in the 19th century, the gold standard remained the most popular financial system in the world. Nations would set a fixed price that they would trade gold for paper money. For centuries, gold was an acceptable form of currency. That’s a big part of why gold is still valuable today — we believe that gold is valuable, and this belief has been culturally ingrained.
Gold has a number of properties that make it useful for this purpose. For starters, it lasts a really long time.The chemical half-life of gold is 168 days, compared to 130 days for silver, and a mere 61 hours for copper.
Gold is also easy to split up into smaller parts and transport. You can remelt a gold ingot into smaller gold coins, or even smaller pieces of jewelry. It’s also portable: an ounce of gold is worth $1,335 and weighs the same as a slice of bread. It’s estimated that the 190,040 tonnes of gold above ground would fit into a cube with 67 foot sides.
Today, we use gold for many different things. Jewelry is the most common use-case representing roughly 48% of all above-ground gold. 21% is used for private investment, whether in the physical form of gold bullion or in financial instruments like exchange-traded funds. Another 17% is used by the official sector by central banks as a reserve currency. The other 14% is used for other purposes, from industrial applications like electronics to dentistry.
source: World Gold Council
While the gold standard has largely been abandoned, gold remains a useful hedge against currency instability.
That’s because gold is inherently scarce, with a limited supply. On average, 1,500–3,000 tonnes of gold is mined each year, adding a mere 1–2% annual increase to the supply of gold. It’s also highly liquid and can be exchanged for money anywhere in the world.
Central banks buy gold to avoid currency risks and hedge against inflation. Gold is held in reserve and can be liquidated quickly in times of crises. In 2016, Russia’s central bank purchased 201 tonnes of gold in response to a weakening rouble and international sanctions, making it the largest acquirer of gold.
Today, gold continues to retain its significance because it operates as a store of value that’s removed from the financial system.
The Bull Case for Bitcoin: Why Bitcoin may replace Gold On the surface, Bitcoin and gold couldn’t be more different. Bitcoin is a digital, peer-to-peer currency created in 2008, and distributed across nodes around the world. Gold is a natural element that is mined from the ground, and which has been used as a store of value for millennia.
Despite these differences, Bitcoin and gold both share characteristics that make them useful as a store of value:
Just like the supply of gold is constrained to the amount that can be mined, the supply of Bitcoin is written into the code and maxes out at 21 million coins. While gold is relatively portable, can be verified, and divided into smaller units, Bitcoin is cryptographically secured, controlled via private key, and can be divided infinitely. That gives it distinct advantages over gold as a store of value.
While gold is useful as a store of value because it’s valuable relative to physical size, this still adds up when you’re operating at scale. For example, when the German central bank wanted to bring home 374 metric tons of gold back to Frankfurt, the gold had to be assessed for purity, be remolded from bullion into bars, then secured and transported. The whole operation cost $ 9 million. There’s a clear argument that a digital currency like Bitcoin would be much better suited to maintain reserves than gold bars.
Central banks are already beginning to look at the benefits of digital currencies. The Swedish central bank is investigating the possibility of launching a digital supplement to cash, called the e-krona. Singapore is experimenting with use-cases for cryptocurrency from cross-border payments to creating a digital Singapore dollar.
Similar to gold, Bitcoin sees high usage as a store of value in countries with currency controls or instability. In Argentina, for example, people use Bitcoin to circumvent government currency controls mean, saving nearly 40% on foreign currency exchanges. In Venezuela, Bitcoin usage has become widespread to buy everything from food to movie tickets in the face of 2,616% inflation. The Venezuelan government even launched its own contentious cryptocurrency, called the Petro, in an effort to circumvent international sanctions.
Like gold, Bitcoin provides a store of value that’s separated from the official financial system. Unlike gold, Bitcoin is far easier to hold onto and exchange. If 25% of the gold that’s used as a store of value in jewelry, private investment, and the official sector moves to Bitcoin, we may see Bitcoin at $136,190.
The New Gold Standard Bitcoin rose from the 2008 financial crash, promising a digital currency free from central bank intervention. This is something that we’ve always needed — just look at gold. Gold is useful because it provides a store of value outside of currency and stock markets. Bitcoin, if it’s able to address key technical and scalability challenges, has the potential to do the same.
What’s important to remember is that despite the boom-and-bust hype cycle, we’re still in the early innings.
https://blog.sfox.com/bitcoin-at-136-000-can-it-become-the-new-gold-standard-ee98b11aacfc
submitted by pmp301 to BitcoinMarkets [link] [comments]

Dr StrangeNano: Or how I Learned to Love Nano and Stop Worrying

Dr StrangeNano: Or how I Learned to Love Nano and Stop Worrying
What up guys.
Figured I’d take a break from the memes to discuss something I haven’t really seen mentioned much in this sub or anywhere else for that matter. I apologize for the long, boring diatribe but if you make it to the end, I’d be interested in hearing your perspectives. Skip to the last 2 paragraphs for the main point if you don’t want to spend time reading the rest.
What makes Nano valuable?
Like most, I was swept up in the 2017 hype. I knew I wanted to get rich quick off crypto and I was trying to find an altcoin that had a chance to make me rich like Bitcoin had done for many. Raiblock’s dizzying speed was enough to convince me to buy in, especially after I had experienced Bitcoin’s shite transfer speed and fee. I was convinced the feeless, blazing fast POS advantage was enough to catapult Raiblocks to the top. Here, a year and a half later, Nano’s network is functioning better than ever, but the POS wave of adoption hasn’t come and it’s possible it never will. But this doesn’t bother me, and it shouldn’t bother you.
Adoption! Adoption! Adoption! This has been crypto’s battle cry for a decade but here we are with a relatively miniscule level of daily use adoption. Still, the entire sector is currently valued at ~200 billion USD even without your grandma using Bitcoin to pay for groceries. How can this be? Is it all speculation based on expected future adoption? Large partnerships with industry giants? Fuck no.
Cryptocurrency’s have value for one reason and one reason only: VERIFIBLE SCARCITY.
Intrinsic value is a fallacy and “value” cannot exist without a subjective valuer. All throughout human history we can see examples of “valueless” items being assigned trade value due entirely to scarcity. Raiblocks namesake, Rai Stones, are one such example. Some skeptics still refute this relation to crypto and claim that because Nano’s existence is entirely digital, it doesn’t actually “exist” and can’t be compared to precious gems, Rai stones, silver, etc. Fair enough. However, we have many modern examples of digital items garnishing “real value” from valuers.
I’m sure many of you have played MMO’s and specifically Old School Runescape. For those who aren’t aware, there are many rare items in OSRS that were available to players for only a short time, after which time trading other players was the only to obtain said items. To this day, the rarest items are extremely valuable. Not just in in-game currency but also in USD. Blue Partyhats, one of the rarest items currently trade for over $2500. The cherry on top of this analogy is that these items have absolutely no value to the player outside of ascetics. Even though they have no intrinsic in-game value. Even though they only mean something to people that play OSRS. Even though the developers try to regulate real-world trading and ban players that are caught participating. Even though it could all disappear in a matter of seconds if the developers decided to re-release the items. EVEN WITH all these considerations, digital scarcity was enough to drive the price of these items past that of a mortgage on an expensive house.
So, back to Nano and the reason I continue to buy more, even now after a 98% drop from ATH. There are no miners, there is no increasing supply. Nano is completely deflationary on every time scale. Even though I think cryptocurrency’s will continue to gain value on the yearly time scale, Nano’s immediate limited supply has driven insane percentage moves and will continue to do so barring a complete catastrophe. These fuckers were completely free 4 years ago and the entire network is now worth $200 million. If 4 years is all it took to go from free to $200 million, what do you think another 4 years will do given the now pre-existing ascribed value? Wide-spread adoption or not, the answer seems plain as day to me.
Alright. Let me have it. Tell me why I’m a completely delusional ugly bastard.
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submitted by it_took_me_forever to nanotrade [link] [comments]

DIGITAL GOLD STABLE COIN GIVES YOU A PRIVATE GOLD OWNERSHIP EXPERIENCE

DIGITAL GOLD STABLE COIN GIVES YOU A PRIVATE GOLD OWNERSHIP EXPERIENCE
Presentation
Bits Of Gold History
So as to thoroughly comprehend the purpose of gold, an individual needs to return to the beginning of the gold business. While gold's experience started in 3000 B.C, when the old-fashioned Egyptians began forming jewels, it was unmistakably in 560 B.C. that splendid began to fill in as a cash. At that moment, retailers expected to make a standardized and quickly transferable kind of cash that would improve exchange.
The commencement of a gold coin ventured with a seal appeared, apparently, to be the response, as gold decorations has been extensively recognized and fathomed all through various bits of the planet.
After the start of gold as a money, its criticalness continued climbing all through Europe and the U.K., together with relics in the Roman and Greek domains unquestionably appeared in show corridors over the world, and Incredible England building up its metals-based money in 1066.
The English pound (addressing a pound of sterling silver), shillings and pence relied upon the total entirety of gold (or silver) is addressed. Finally, gold addressed wealth all through Europe, Asia, Africa, and the Americas.

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Gold In The Advanced Economy
Despite the way that gold no more backs the U.S. dollar (or elective overall monies so far as that is concerned), it passes on importance in current society. It's as yet basic to the worldwide market.
To attest this stage, there isn't any need to look more removed than the benefit reports of national banks and other cash related affiliations, like the Universal Fiscal Store.
Starting at now, these affiliations are accountable for holding roughly one-fifth of the planet's wellspring of over the ground gold. In addition, various national banks have added to their own one of a kind present gold stores, addressing worries as for the long stretch by and large market.

Gold Jam Riches
The clarifications behind gold's centrality in the present economy bases in transit that it has secured wealth all through an enormous number of ages. The proportionate, nevertheless, can't be said about paper-assigned money related structures. In the mid 1970s, one ounce of gold drew nearer $35. Assume that around at that point, you had an option of holding an ounce of gold or fundamentally keeping the $35.
They'd both get you the amazingly same things, like an unblemished autonomous organization suit or unrestrained bicycle. In any case, if you had an ounce of gold now and changed over it to the expenses, by then it would regardless be sufficient to buy a sparkly new guarantee, yet the proportional can't be said for the $35.
Basically, you would have lost an extensive proportion of your wealth in case you chose a decision to hold the $35 diverged from the one ounce of gold in light of the fact that the estimation of gold has extended, while the estimation of a dollar was broken down by development.

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Gold as an Expanding Speculation
All things considered, gold is viewed as an upgrading theory. Clearly gold has filled in as a theory which may incorporate a widening part for your portfolio, paying little respect to whether you're stressed over expanding, a reducing U.S. buck, or perhaps verifying your wealth. In case your thought is simply improvement, gold isn't related with offers, bonds, and property.

The New Path Interest In Gold
At this moment, with blockchain development set up as a verified accounting procedure, similarly as Bitcoin, improving known to the general populace, a fresh time of gold-maintained cryptographic cash is as of now rising.
There's a well known (and severe) run for unfathomable riches happening today in the crypto world, similarly as nations are expecting to give their particular gold-based advanced money.

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Computerized GOLD Undertaking
Likewise, by and by, I am showing The GOLD token is a stablecoin supported by real gold bars set away in ensured and auditable vault stockpiling in BullionStar. 1 GOLD token counterparts to 1 gram of gold.
The token relies upon Ethereum blockchain (ERC-20 benchmark ) and is right now gave and gave by Computerized GOLD LTD business.
A base, the cost of the coin will remain comparable to the present gold expense. In case the GOLD Token gets acclaimed then the sticker price of the coin can raise in worth, higher than the estimation of gold. In case the GOLD Token doesn't remove than the value stays as the estimation of this gram of gold. It looks like an inborn stop-adversity.

GOLD TOKEN Highlights
The GOLD token parades various conspicuous features that mean to encourage the usage of blockchain for digitizing assets. By acquiring gold through the token, Customers get to:
A straightforwardness token that requires no exchange costs: Customers can choose to send the GOLD Token wherever on the planet, without holding up be stressed over flighty exchange Charges, because of all exchanges is free. Customers are moreover allowed to make unfathomable Installments since the organization doesn't execute account confinements. Customers must note that Moves still solicitation the gas cost charged by the Ethereum organize.
Along these lines, It's fundamental to consider that the assistance cost is Made to be commensurate, or lower than the accuses distinguished of taking care of Gold in a store or credit authority. Customers may plan to cover a 0.99% yearly storage charge.

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Widen portfolios, and keep wealth in a position of shelter: The Present cryptographic cash business focus conditions generally incorporate shaky cost Swings, from now on giving all purchases a high-chance segment. Most of the starting at now available coins Aren't trusted to keep up their incentive from the since a long time ago run, since the Commercial center.
Regardless, gold suggests a money related piece of elbowroom that has held its incentive for incalculable years. Upheld by balance. Obviously, gold is among the world's most secure advantages for Have For limit. Its digitization through the GOLD token empowers customers to Purchase Inclusion in gold, which may consequently be utilized to rehearse assurance from Insufficient monetary circumstances, managerial and eccentrics changes.
The GOLD token could be immediately and immediately obtained, sold, and exchanged In this way displaying why it reflects a strong extension to show customer computerized cash portfolios.
Secure gold ownership: The troubles related with obtaining and saving gold are immediately spread out as of now. The procedure commonly incorporates a lot of issue. To buy gold, individuals that are interested need to discover a trusted in provider, supervise authoritative work, by then keep on attaching the as of late purchased metal. Encouraging it at a bank is a secured other option, nevertheless, it incorporates fundamentally progressively regulatory work, together with limit charges.

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The natural threats related with keeping gold in a house are outstanding, due right up until now, theft remains an issue that society must guarantee against. These challenges could be rejected using Advanced Gold. Together with the GOLD token, customers buy consideration in real gold, saved by the business is guaranteed vaults. The assurance consideration is eventually given by a lone of the world's most noteworthy security agents, the Chubb Insurance agency.
The guaranteed gold is saved in Singapore, and it is a brilliantly reasonable spot in view of its earth shattering property rights. It's similarly pertinent to express that blockchain advancement offers protection against computerized perils also. Up until this point, blockchain remains resistant, given that no people blockchain record was hacked during the present day.

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Security on the customer side could be guaranteed given that token customers shield themselves from key-loggers and various sorts of malware. In any case, no pariah may obtain access to an individual record without finding the wallet identifier close by the related private key. In addition, blockchain constancy ensures that all exchanges are enduring, as such apparent customers face no chargeback danger.
Finally, 100 percent of acquired tokens are secured with gold. The aggregate is equivalent to the estimation of physical gold that is gotten on the benefit of customers and kept in a BullionStarbased guaranteed vault. Purchasers are permitted to play out their due resourcefulness by watching that the BullionStar live survey accounts.

  • High liquidity Advanced Gold: The GOLD token guarantees high liquidity considering the token underwriter firm, computerized gold ltd moreover fills in as a liquidity provider. Customers are allowed to in a brief moment buy and sell noteworthy measures of tokens, through the Computerized Gold Commercial center, or life accomplice buys. Liquidity is so accessible on-demand, and besides the rates dependably immovably fit current gold market rates.

  • Private gold ownership experience: As fast Referenced Beforehand, adjusting to physical gold incorporates that customers Divulge private information to stay in consistence with government managerial frameworks. The general nonappearance of organization grasped from the sheer measure Of information gathering, has caused the presence of an overall population which is more protection cognizant. The GOLD token licenses for physical gold having a place while staying Person.

  • Guaranteed long stretch eventual fate of got GOLD: Most budgetary specialists concur that the fate of gold massively surpasses Our own. This end is maintained by the Lindy Effect, a thought that depicts The manner in which the fate of an advantage is really comparative with the present Age.
Gold's transcendence for a colossal number of years ensures the significant metal Will remain pertinent for quite a while to come.
The possibility of a gold computerized money has reliably had an interest for those scanning for an elective portion structure.

Official Website: https://gold.Storage/
White paper: https://gold.Storage/wp.Pdf
Telegram: https://t.Me/digitalgoldcoin
Twitter: https://twitter.Com/golderc20
Medium: https://medium.Com/@digitalgoldcoin

Author: Wayrey2020
https://bitcointalk.org/index.php?action=profile;u=2395392
submitted by willliams1 to Crypto_ICO_Investing [link] [comments]

Crypto-Currencies Are Poised To Radically Change Finance … And Reshape Nations

Crypto-Currencies Are Poised To Radically Change Finance … And Reshape Nations
Article by Forbes: Kurt Cagle & COGNITIVE WORLD In the 18th Century, a venture begun in England established an outpost in the New World around Hudson Bay. The Hudson Bay Company was given license by the crown to exploit the bounty of the Northernmost parts of North America, and eventually a trading network was built out, trading fur, woods, and mineral resources. This network manifested itself primarily through a series of forts that protected general stores, extending as far south and west as Oregon, along the Pacific Coast, forts that would in time become cities like Portland, Vancouver, Toronto and so forth.

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An example of Hudson Bay Company Scrip WIKIPEDIA The Hudson Bay Company used its own special scrip within its territory, the scrip holding value because it could be traded for British pounds as well as establishing more or less standard prices for goods. When Canada was founded in 1867, it established its territory by buying the land from the HBC, and making HBC’s scrip fully convertible to the new Canadian Dollar. In effect, a privately held scrip became the de facto currency of a nation. Empires, kings and potentates have long coveted the right to put their face on coins, but until comparatively recently, the value of those coins was determined primarily by the assayed weight of the metal that made them up. Indeed, the Dutch, during the 16th century, actually scored their gold coins so that a person could break it apart into octants, from whence was derived the term “Pieces of eight” so beloved in pirate tales. They also created coins from the silver mine of Joachim’s Valley (‘Joachimsthal’ in Dutch) which were in turn heavily used by first the Spanish territories then eventually English North America, the name frequently shorted first to ‘Thaler’, and then via Spanish as ‘Dollar’.

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Pieces-of-Eight, so named because the Spanish dollar coin of the 1600s was frequently broken upon into eight bits or reals, which in time became known as pesos (pieces). JAMESTOWN REDISCOVERY Following the death of Louis the Fourteenth of France, the French economy was in tatters given the financial excesses of the Sun King. The Duke of Orleans, the regent of the new five-year-old King Louis the Fifteen, turned to a friend, Scottish financier John Law, for help. Law, for his part, made a proposal that had been tried on a smaller scale, but never really at a national level: the concept of creating a paper currency, backed by the government and in theory redeemable with silver. While the experiment worked for a little while, speculators made the currency unstable, which was then exacerbated by the government producing more Francs than it could support, causing the currency to crash and significantly diminishing the ability of France to compete in the colonization in North America. It also destabilized the French court by reducing the influence of the King over his aristocrats, many of whom had been severely burned in the crash, and not coincidentally laying the groundwork for the French Revolution several decades later. Despite this, as Europe went from Feudal vassalages to nation-states, the ability to control the minting of paper currency based upon its status as a promissory note became one of the key prerogatives of nations. It was one of the reasons, when the first American Confederation, created in the aftermath of the US Revolutionary War, realized they needed a stronger government, the one thing that the Federal government reserved to itself rather than allow to the states was the exclusive right to mint coinage and currency.

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Currencies have long been the prerogative of nations, though that may be changing as electronic coinage hearkens back to most currencies’ merchantile roots. GETTY Fast-forward two hundred and fifty years, and you can see that history is in fact repeating itself. A currency system works by having a few essential characteristics: A note of currency must be unique and non-duplicatable. Currency must be readily redeemable — if not enough people will accept the currency as having a certain value, it cannot be used as a medium of exchange. Currency must be relatively stable — it holds roughly the same value over some time interval. These three conditions place some real constraints on currencies, though not always obvious ones. For instance, if you increase the supply of a given currency, you might think that it would dilute the value of that money. Maybe yes, maybe no. If demand is high for money, increasing the money supply may actually accelerate economic growth, though if demand for money is low, increasing the supply may simply cause inflation. If currency is only redeemable in certain places, then it has less utility as a store of value. If a currency has only half the value today that it had yesterday, then people will get rid of that currency quickly in favor of something that is more stable. It turns out, in fact, that most paper currencies don’t completely satisfy the above constraints over a long time period, and what’s worse, the relationship between money and value can be quite non-linear. This is because currency by itself represents buying power. A gallon of gas in 1971 cost twenty nine cents in most places. Today, that same gallon of gas costs $2.90. Ironically, a loaf of bread cost $.29 and $2.90 respectively as well. The average wage in 1971 was $10,000. Today, its $50,000. This is worth highlighting, though more from an economic rather than technical standpoint. Put in stark terms, the typical worker’s wages went up 400%, but the price of most goods went up 1000% percent over roughly the last fifty years (or, the money you earn is worth 60% less today than it was in 1971, relative to the cost of living). The actual utility of a gallon of gas has actually not changed much in that time, which means that what has changed is both buying power for a given amount of money, and the change in wages relative to the cost of goods. Why? That’s a topic for another time.

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Electronic currencies, such as BitCoin and Ethereum, rank high in their ability to guarantee uniqueness, but are struggling with exchangeability and are still very heavily influenced by speculators, making them less than ideal for stable currencies. GETTY IMAGES So, where do cryptocurrencies play into all of this? At the moment, of the three points highlighted above, cryptocurrencies arguably are really, really good with the first point, are getting better (though still not great) with the second point, but really suck on the last point. Consider this. One of the biggest arguments in favor of cryptocurrencies is that they are hard to forge. It’s possible — throw enough computation power at it and you could in fact do it, but the salient point is that the cost to do so likely outweighs the value of the coin. Now the downside to that is that many of the current mechanisms for determining uniqueness (such as mining prime numbers) are also very expensive, not just in terms of computational cycles but in terms of energy costs. It’s one of the reasons why a few of the primary coins actually are too large by themselves to be used for currency — you have to divide a coin up to say a 1000 different micro-coins to get to the point where you can buy a cup of coffee and a sweet roll at Starbucks, and this in turn still requires effective uniqueness algorithms. However, even with weaker algorithms for division, such micro-coins are still orders of magnitude harder to forge than your average US $20 bill, which is far and away the most popular currency in the world in terms of forgery. However, this point is actually becoming less and less of an issue for the simple reason that paper currency itself is becoming obsolete, except among the very poor (who often have difficulty in being able to set up bank accounts). For much of the latter twentieth century, credit cards made significant inroads in eliminating paper currency, and most recently, the introduction of chipped cards, both credit and debit, have significantly reduced the incidences of fraud. The bigger issue today is online card fraud, though even there, the introduction of electronic wallets (and the growing liability that retailers are facing with each hacking incident via class action suits) are spurring much better encryption of data, as well as better control by consumers. This is not to say that credit card fraud isn’t still a problem, but it is a problem that shows signs of abating. Another, perhaps far more reaching consequence of the rise of credit cards, debit cards, digital rewards cards, gift cards and EBTs has been that it has been destroying the physicality of currency, and with it, one of the last vestiges of control that most nations have over their currency. The reason for this is simple. Today, it is possible to set up foreign exchange transfer accounts in which a given currency is in Yen, or Euros, or Pounds, and draw upon them as readily as you can a US funds account. You can set up a crypto account in much the same way, and can even, with some creative work, set up accounts that let you play currency arbitrage across multiple such accounts. If Amazon, Google, Microsoft, Apple or Facebook (or their counterparts in other countries) set up their own digital currency, you could do the same thing. Amazon is actually creating a highly synergistic ecosystem that is nearly a full bore economy in its own right.

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In ten to twenty years time your paycheck could very well be made in private e-currency rather than a country’s native currency, which will send shockwaves in political circles. GETTY Put yourself ten years in the future. Amazon (as an example) puts out a cryptocurrency called the bezo (one bezo, two bezos, ….). You can continue to set up a US dollar account for Amazon prime, but you can also open up a bezos account, based upon a blockchain like construct under the control of Amazon. Prices begin to creep up when measured in US dollars, because the US economy has for the most part had net positive price inflation even during recessions, but prices in bezos stay fixed. Other companies look at this and offer the option of paying their employees in bezos. Some are resistant, but especially younger employees take the plunge, and after a while, older employees see that their net buying power continues to decline while the ones in the Amazon ecosystem are seeing wage power stability, and you see a shift as older employees begin to do the same thing. Other companies do this on their own, but discover that they don’t have quite enough people in their network to maintain stability, and so they reach out and affiliate themselves with the Amazon network. Banks have taken notice, and all of a sudden you see Amazon currency replacing the US Dollar in more and more transactions, many of them for millions or even billions of dollars. And then Amazon moves the Amazon Currency Network to the Cayman Islands. Overnight, the United States sees 35% of its tax base disappear. Too many people are no longer using US Dollars for transactions. The US Debt, which has been a ticking time bomb for decades, goes off as the US can no longer even pretend to service its deficits, let alone the total debt. States, given the conundrum of having a central Federal government that has become increasingly hostile and demanding (while providing less and less value for the tax money that their citizenry have paid) vs. working with a more stable currency and more autonomy, begin to think the unthinkable at a policy level: choosing to join a different political alliance based upon a common protocol for sharing currencies.

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One very distinct possibility of the intermixing between private and public e-currencies is the possibility that it could very well exacerbate an already growing divide along geopolitical lines. GETTY Another scenario can be envisioned. Recently, Walmart announced that they had a patent on a new blockchain currency, with the implications that they would be issuing a currency within the relatively near future. Amazon and Walmart are seen as competitors in the general goods sector, and while there is some overlap they tend to service different regions (and their customers often have very divergent political leanings). Over time you end up with two competing currencies, the Bezo and the Walton. Each of which provides a premium within their respective networks and a double penalty within the opposite network — the double being the fact that in order to convert from Bezos to Waltons, you would have to convert one currency to USDs and then to the other currency, with fees at each transaction point (something often happens in existing currency exchanges, where you have to find a common currency to exchange between two different currencies that don’t otherwise have exchange rates). Over time, the economies diverge, with frustrations mounting as the Bezo and the Walton respond to different economic strategies, and changes in political power in Washington DC bring with it a distinct preference for one currency or the other, with all that this implies for policy. Attempting to peg either of the private currencies to the dollar ends up with a situation similar to that which the European Union experience in 2008, when economic policy that was right for the northern countries with strong industrial bases proved ruinous for the southern countries that were primarily agrarian in nature (and is in fact a part of the current problem between red and blue America). What is likely to happen in this scenario is the rise of compacts — agreements between states that standardize upon specific policies regarding economic action, taxation, representation, immigration, public programs, defense, ecological policy, education and so on. Put another way, the currency networks that emerge (and it is likely they will be networked, not just one single currency) will begin looking and acting more and more like autonomous countries. With this comes the reduction of power in Washington, DC and the federal government as states hew more closely to their compact alliances. Now, to be clear, these are both hypothetical scenarios, and I’m using Amazon and Walmart here just to illustrate the point. Nor are these the only scenarios that may play out. It’s also worth noting that what is at issue is not so much cryptocurrency by itself as it is the ability of currency networks to effectively capture the tax base of parts or all of a country. Will this result in civil war? Hard to say. We may very well end up in a situation where the US becomes a Confederation along the lines of Canada, with a weaker central government, a common defense agreement and stronger regional blocs. The US may split peacefully into several distinct regions based upon the degree of economic connectivity. It’s possible that smarter heads prevail and some agreement is worked out to keep the status quo. However, the likelihood of that decreases the more that mechanisms for separation get implemented, and eCurrencies, whether national based or privately based, have the potential to exacerbate an already stressed situation.

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One of the major issues that most eCoins have is that they are still highly unstable, due to a comparatively small pool of investors, the potential for volatile speculation, and the potential that a government could make such transactions illegal. GETTY The primary mitigating factor from this happening now is the lack of stability of crypto-currencies, which is something of a chicken and egg problem. Stability ultimately comes from the number of participants involved, which in turn determines the degree to which speculation can take place within a currency. Speculation and stability are counter-weighted — most speculators prefer an asset class to be volatile, because such volatility can make for higher returns with less capital, though it can also lead to higher losses. You can speculate with stable currency (as George Soros managed to do successfully against the British pound in the 1970s) but it requires deep pockets and a great deal of leverage, and being unsuccessful can ruin you. Bitcoin and other crypto-currencies are still very unstable primarily because they lack both the installed base of users and because they are not yet fully convertible or redeemable. It is arguable whether any of the first generation of ICOs will ever meet that bar alone, though that changes once you begin seeing mergers and adoptions between ICOs and large financial or network concerns. This also moots one of the other major selling points that ICO promoters themselves try to make. No currency is going to survive if transactions in that currency remain anonymous, and keeping such transactions anonymous will become increasingly difficult over time. The reason for this is relatively simple — any transaction has real world implications, those implications can be tracked, and once one thread of a transaction begins to get picked apart, then it becomes possible to determine how these connect to other transactions. Government opacity (which is one form of anonymity) will keep many existing ICOs from ever being recognized as legitimate, and may very well be seen as perfect channels for money laundering and black market transactions, putting these ICOs under deep scrutiny. It is likely that currencies based upon (semi-) transparent block-chains (something you’re increasingly seeing developed by financial institutions) will likely overtake the anonymous block-chains currently being deployed.

https://preview.redd.it/79i6dzb4u6f31.png?width=700&format=png&auto=webp&s=9ef3c872dc868e52e9b8454bf8403b0db7562152
The future of finance (and of bank accounts) may very well be that a typical account is, in fact, an index made up of different e-currencies, both public and private. GETTY In the longer term (fifteen to twenty years), it is likely that the average consumer will likely not interact much at all with ICOs directly. Instead, what I see happening is that banks (and bank-like-entities, such as credit unions) will controls portfolios of currencies and accounts will then consist of baskets of different coins on various networks. Consumers can then determine the mix of their coin holdings, and can designate the default currencies they wish to be paid in (or pay out) when they make a financial transaction. However, at the micro-level, these networks and baskets will be treated in much the same way national currencies do today, with the added wrinkle that these private currencies can push and pull on the national currencies at a level unprecedented until now. What happens when the Bezo replaces the Japanese Yen (or the US Dollar) as the primary instrument for carry trades. What if the Iranian eDinar becomes the preferred currency for pricing oil, or an international incident causes investors to buy up Chinese eYuan and sell the USD, raising the potential for price increases in the United States (or vice versa). What will almost certainly happen is that the distinction between international corporations and nations, already somewhat blurry, will erode even more with time. Businesses will increasingly find themselves having to establish comprehensive foreign policies, fielding security forces and dealing with issues that traditionally have been the domain of countries. At the same time, fundamental questions, including the deceptively difficult one of what constitutes citizenship, will become pressing sooner than we’d like to believe. The upshot of this is that Bitcoins and related electronic currencies are likely here to stay, will become progressively more influential in both political and economic policy as they become more stable, and will almost certainly introduce stresses and potential breaking points in economies globally throughout the twenty-first century.
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J.P. Morgan Early Look at the Market – Mon 10.16.17 - **PLEASE DO NOT FORWARD THIS DOCUMENT**

J.P. Morgan Early Look at the Market – Mon 10.16.17

SEC DISCLAMIER: PLEASE DO NOT FORWARD THIS DOCUMENT

Morning Levels

Trading Update

Top Headlines for Monday

Catalysts – big events to watch over the coming months

Full catalyst list

  • Wed Oct 18 – Fed speakers: Dudley, Kaplan.
  • Wed Oct 18 – US housing starts for Sept. 8:30amET.
  • Wed Oct 18 – US building permits for Sept. 8:30amET.
  • Wed Oct 18 – US Beige Book. 2pmET.
  • Wed Oct 18 – earnings before the open: ABT, Akzo Nobel, ASML, MTB, MTG, NTRS, Reckitt Benckiser, SVU, USB
  • Wed Oct 18 – earnings after the close: AA, AXP, BDN, BHE, BXS, CCI, CCK, EBAY, GHL, HXL, KALU, LLNW, SLG, SLM, STLD, TCBI, URI.
  • Thurs Oct 19 – China Q3 GDP and Sept retail sales, IP, and FAI (Wed night/Thurs morning)
  • Thurs Oct 19 – US Leading Index for Sept. 10amET.
  • Thurs Oct 19 – earnings before the open: ADS, BBT, BK, BX, DGX, DHR, DOV, GPC, KEY, Nestle, NUE, Pernod Ricard, Philips Lighting, PM, PPG, Publicis, RCI, Roche, SAP, SNA, SON, Thales, TRV, TSMC, TXT, Unilever, VZ, WBC, WGO.
  • Thurs Oct 19 – earnings after the close: ASB, ATHN, ETFC, ISRG, LHO, MXIM, NCR, PBCT, PFPT, PYPL, WDFC, WERN.
  • Fri Oct 20 – BOJ’s Kuroda speaks. 2:30amET.
  • Fri Oct 20 – US existing home sales for Sept. 10amET.
  • Fri Oct 20 – Yellen speaks to National Economists Club in Washington. 7:15pmET.
  • Fri Oct 20 – earnings before the open: Assa Abloy, BHGE, CFG, CLF, Daimler, DST, GE, GNTX, HON, InterContinental Hotels, KSU, MAN, PG, SLB, STI, SYF, TomTom, Volvo.
  • Mon Oct 23 – China Sept property prices (Sun night/Mon morning).
  • Mon Oct 23 – US Chicago Fed Activity Index for Sept. 8:30amET.
  • Mon Oct 23 – earnings before the open: HAL, HAS, ITW, KMB, LII, Philips, STT, STX, VFC
  • Mon Oct 23 – earnings after the close: ARNC, CR, JBT, OI, ZION.
  • Tues Oct 24 – Eurozone flash PMIs for Oct. 4amET.
  • Tues Oct 24 – ECB bank lending survey. 4amET.
  • Tues Oct 24 – US flash PMIs for Oct. 9:45amET.
  • Tues Oct 24 – earnings before the open: AMTD, Anglo American, BASF, BIIB, CAT, CLB, CNC, CVLT, ETR, Fiat Chrysler, FITB, GLW, GM, INFY, IPG, LLY, LMT, MAS, MCD, MMM, Novartis, PCAR, PHM, PNR, R, RF, SAH, SHW, SWK, UTX, WAT, WDR.
  • Tues Oct 24 – earnings after the close: AKAM, AMP, AXS, Canadian National Railway, CMG, COF, CYBE, DFS, ESRX, HLI, IRBT, IRM, MANH, NUVA, RGC, T, TSS, TXN.
  • Wed Oct 25 – US durable goods for Sept. 8:30amET.
  • Wed Oct 25 – US FHFA home price index for Aug. 9amET.
  • Wed Oct 25 – US new home sales for Sept. 10amET.
  • Wed Oct 25 – Bank of Canada rate decision. 10amET.
  • Wed Oct 25 – Brazilian rate decision (after the close).
  • Wed Oct 25 – earnings before the open: ALK, ALLY, ANTM, Antofagasta, AOS, APH, BA, BAX, BTU, Capgemini, Dassault Systemes, DPS, FCX, FLIR, Fresnillo, HBAN, Heineken, IP, IR, KO, LEA, LH, Lloyds Banking Group, NDAQ, NSC, NYCB, OC, Peugeot, SIRI, SLAB, TMO, TUP, V, WBA, WEC, WYN.
  • Wed Oct 25 – earnings after the close: ABX, ACGL, AFL, AMGN, CA, CLGX, DLR, FFIV, FNF, FTI, KIM, LSTR, MC, MLNX, NOW, NXPI, ORLY, PKG, PLXS, RJF, SSNC, TSCO, TYL, UNM, VAR, WCN, XLNX.
  • Thurs Oct 26 – Riksbank decision. 3:30amET.
  • Thurs Oct 26 – ECB rate decision. 7:45amET press release, 8:30amET press conf.
  • Thurs Oct 26 – US wholesale inventories for Sept. 8:30amET.
  • Thurs Oct 26 – US advance goods trade balance for Sept. 8:30amET.
  • Thurs Oct 26 – US pending home sales for Sept. 10amET.
  • Thurs Oct 26 – earnings before the open: ABB, ABX, Aixtron, ALLE, ALV, Anheuser Busch, APD, Bayer, BEN, BMS, BMY, BSX, BWA, CCMP, CELG, CHTR, CMCSA, CME, COP, Deutsche Bank, ENTG, EQT, EXLS, F, GNC, HLT, HSY, LUV, MMC, MKC, NEM, Nokia, OAK, ODFL, PX, Santander, Schneider Electric, SPGI, STM, TWTR, UNP, UPS, VC, VNTV, WM, XEL, XRX.
  • Thurs Oct 26 – earnings after the close: AIV, ATEN, CB, CDNS, CENX, CLS, EXPE, FLEX, FTNT, FTV, GILD, GOOG, HIG, INTC, LPLA, MAT, MSFT, NATI, PFG, PRO, SGEN, SIVB, SYK, VDSI, VRSN.
  • Fri Oct 27 – China Sept industrial profits (Thurs night/Fri morning).
  • Fri Oct 27 – US Q3 GDP, personal consumption, and core PCE for Q3. 8:30amET.
  • Fri Oct 27 – US Michigan Confidence numbers for Oct. 10amET.
  • Fri Oct 27 – earnings before the open: B, MRK, PSX, SC, TRU, Volkswagen, WY, XOM.
  • Mon Oct 30 – US personal income/spending and PCE for Sept. 8:30amET.
  • Mon Oct 30 – US Dallas Fed index for Oct. 10:30amET.
  • Mon Oct 30 – analyst meetings: CSX
  • Mon Oct 30 – earnings before the open: HSBC
  • Mon Oct 30 – earnings after the close: AVB, CGNX, RE, RTEC, VNO
  • Tues Oct 31 – BOJ rate decision (Mon night/Tues morning).
  • Tues Oct 31 – US Employment Cost Index for Q3. 8:30amET.
  • Tues Oct 31 – US Case-Shiller home price index for Aug. 9amET.
  • Tues Oct 31 – US Chicago PMI for Oct. 9:45amET.
  • Tues Oct 31 – US Conference Board Sentiment readings for Oct. 10amET.
  • Tues Oct 31 – earnings before the open: ADM, AET, Airbus, AMT, Barclays, BNP, CMI, ECL, FIS, GGP, K, MA, OSK, PFE, XYL.
  • Tues Oct 31 – earnings after the close: APC, CHRW, CXO, PLT, WFT, X
  • Wed Nov 1 – US ADP jobs report for Oct. 8:15amET.
  • Wed Nov 1 – US Markit Manufacturing PMI for Oct. 9:45amET.
  • Wed Nov 1 – US Manufacturing ISM for Oct. 10amET.
  • Wed Nov 1 – US construction spending report for Sept. 10amET.
  • Wed Nov 1 – US auto sales for Oct.
  • Wed Nov 1 – FOMC meeting decision. 2pmET.
  • Wed Nov 1 – earnings before the open: AGN, APO, CEVA, CLX, EL, GRMN, HFC, LFUS, Novo Nordisk, ORBK, Standard Chartered, TAP, TRI.
  • Wed Nov 1 – earnings after the close: ALL, BHF, BXP, CACI, CAVM, CSGS, EGOV, FB, LNC, MANT, MET, MUSA, OXY, PRU, QCOM, ULTI, XPO.
  • Thurs Nov 2 – BOE rate decision. 8amET.
  • Thurs Nov 2 – US nonfarm productivity and unit labor costs for Q3. 8:30amET.
  • Thurs Nov 2 – earnings before the open: ADP, AN, BCE, CI, Credit Suisse, DISCA, H, ICE, LDOS, Royal Dutch Shell, Sanofi, Swiss Re, WRK.
  • Thurs Nov 2 – earnings after the close: AAPL, AIG, ATVI, CBS, CRUS, FLR, HLF, JCOM, RMAX, SBUX, UNIT.
  • Fri Nov 3 – US jobs report for Oct. 8:30amET.
  • Fri Nov 3 – US trade balance for Sept. 8:30amET.
  • Fri Nov 3 – US factory orders and durable goods orders for Sept. 10amET.
  • Fri Nov 3 – US non-manufacturing ISM for Oct. 10amET.
  • Mon Nov 6 – Fed’s Dudley speaks at The Economist Club of New York.
  • Tues Nov 7 – RBA rate decision. Mon night/Tues morning.
  • Tues Nov 7 – US JOLTs jobs report for Sept. 10amET.
  • Tues Nov 7 – US consumer credit for Sept. 3pmET.
  • Thurs Nov 9 – US wholesale trade sales/inventories for Sept. 10amET.
  • Fri Nov 10 – US Michigan Confidence preliminary numbers for Nov. 10amET.
  • Tues Nov 14 – US PPI for Oct. 8:30amET.
  • Wed Nov 15 – US CPI for Oct. 8:30amET.
  • Wed Nov 15 – US Empire Manufacturing for Nov. 8:30amET.
  • Wed Nov 15 – US retail sales for Oct. 8:30amET.
  • Wed Nov 15 – US business inventories for Sept. 10amET.
  • Thurs Nov 16 – US import prices for Oct. 8:30amET.
  • Thurs Nov 16 – US industrial production for Oct. 9:15amET.
  • Thurs Nov 16 – US NAHB housing index for Nov. 10amET.
  • Fri Nov 17 – US housing starts and building permits for Oct. 8:30amET.
  • Mon Nov 20 – US Leading Index for Oct. 10amET.
  • Tues Nov 21 – US existing home sales for Oct. 10amET.
  • Wed Nov 22 – US durable goods for Oct. 8:30amET.
  • Wed Nov 22 – US final Michigan Confidence numbers for Nov. 10amET.
  • Wed Nov 22 – FOMC 11/1 meeting minutes. 2pmET.
  • Fri Nov 24 – US flash PMIs for Nov. 9:45amET.
J.P. Morgan Market Intelligence is a product of the Institutional Equities Sales and Trading desk of J.P. Morgan Securities LLC and the intellectual property thereof. It is not a product of the Research Department and is intended for distribution to institutional and professional customers only and is not intended for retail customer use. It may not be reproduced, redistributed or transmitted, in whole or in part, without J.P. Morgan’s consent. Any unauthorized use is strictly prohibited.
submitted by SIThereAndThere to wallstreetbets [link] [comments]

Of Wolves and Weasels - Day 187 - Guest Post: Confessions of a Bitcoiner

Hey all! GoodShibe... on Summer Vacation!
Please enjoy this post by Guest Writer Justlite and tip them well ;D)
Note: To tip them directly:
+dogetipbot @Justlite xxx doge verify
I've been part of this Dogecoin community since early January and I have to say the people here constantly amaze me. For me Dogecoin and this community is the future of cryptocurrency and I'm speaking as a long time Bitcoiner. Over a month ago I explained in a previous post why I believe Dogecoin price will rise again and correctly predicted Bitcoin to rise substantially shortly after my post against in the face of several counter arguments late last year. My thoughts have not changed on Dogecoin but I feel it's worth giving my experience on cryptocurrencies as a Bitcoiner in the early days of 2010-13 and how that compares with Dogecoin.
I bought Bitcoin and Litecoin in the early days and I can tell you the Bitcoin community back then was hopeful, cheerful and very welcoming...forgive us right now we are at the fighting stage with the established status quo wants to knock Bitcoin down.
In the early days we were only known for CPU/GPU mining discussions and tipping one another after each comment. In fact Bitcoin was only ever used to tip and trade but not to buy anything since we didn't have anything available for Bitcoin. We were very brave I mean wiring money to a company in Japan and getting these online things called Bitcoin which doesn't buy anything?!
Back then Bitcoin fans were seen as weird and Bitcoin as a complete joke we were idealist and we still are. Many of the people that fought us then were actually the libertarian precious metals community and because gold and silver were tangible and has been money for 5000 years Bitcoin wasn't and was barely a year old. It's hard to argue with them, after all some guy that called himself Satoshi Nakamoto, the Japanese equivalent of Jack Smith, created it but left after a year and no one saw how he looks like.
We could understand their concerns, a lot of early Bitcoiners like me also have gold and silver in the belief it will protect our wealth from the next financial collapse. But Bitcoin was created for this purpose too, no more will the 1% have economic power over the 99%, "1 CPU - 1 vote" said Satoshi in his white paper. We are also in the digital era and with all the success the internet is nowadays there still was no internet currency without the excessive charges of credit card companies.
Bitcoin changed all that it wasn't just an internet currency it was hoping to be money on every platform in every country, person to person, in at least 10 minutes between any country in any amount for free! Fast forward to present day and we are starting to see that.
Of course we have had many setbacks on the way, such as exchanges being hacked, wallets stolen. We weren't so security conscious back then and we learned the hard way.
Then we grew in price and popularity and quite recently the government fought us when our dark market Silk Road was shut down by the Feds. We have had 4 price bubbles a lot of sleepless nights I've personally ploughed in tens of thousands of dollars lost a lot of Bitcoins on the way (and also lost 15000 Litecoins) and forced to read articles with declarations of "Bitcoin is dead" after each major price drop.
Sound familiar?
"History doesn't repeat it self but it does rhyme" Mark Twain
That's all part of the growing pains of a disruptive idea.
Dogecoin, by comparison, has a whole economy after just 7 months of inception! It's remarkable as I am also a big Litecoin fan and even that community isn't as productive as this. People talk about Dogecoin's PR as it being behind its popularity but I honestly believe there is no intentional PR, I mean where is the PR team?
I believe it was a combination of a friendly meme encouraging positive kind people, a internet currency that's easily explainable to anyone, a very mineable coin using your PC/laptop so everyone can get involved in and great online platform such as Reddit to connect like minded users together and everything just snowballed from there.
Now Dogecoin is one of the most productive coins out there with several client and core devs, hundreds of retailers, apps, doge specific websites, blogs and charity fundraisers. That's why I believe Dogecoin is undervalued right now.
This doesn't mean you should put your life savings into Dogecoin or other cryptocurrencies as they are still a risk and early stage technology. Just buy with what you can afford to lose!
So where is Dogecoin heading? - The analysis
As long as we still use doge for goods and services and keep the positivity going then I can only see the price of doge going higher and reaching all time highs without the need for manipulation. Over what time frame?
Like Bitcoin it won't be overnight and granted there's no supply limit so it will never reach tens or hundreds of dollars but we don't need it to. I honestly want Dogecoin to be a currency and I personally like having whole doges. Ideally I would hope that 1 or even 10 doge will buy 1 loaf of bread or 1 litre of milk at my local grocery store some day.
Supply vs Demand
As I mentioned before the supply coming to the exchanges from multipools has been immense - it is thought about 160 million doge a day is being mined and sold on exchanges just from miners. This not only exerts a lot of selling pressure but it also encourages weak hands to sell forcing the price down further it's a downward spiral which we have been seeing.
Any other coin would have collapsed long ago but doge is no ordinary coin. After the next two halvings in October time it will be down to 40 million a day and low enough to allow for natural demand to outpace the supply causing the price to increase steadily which will give momentum and may then lead to a new all time high and the second bubble.
Network Hashrate
I'm of the belief that ASICs are a necessary evolution in cryptocurrencies by making a coin secure which will attract investment/adoption and environmentally friendly. With scrypt ASICs large and small coming online the network hashrate has more than doubled in the last 2 months from 40 GH/s to 90 GH/s and while we tend to see a jump in hashrate just before a halvening I attribute this rise to small miners also buying ASICs and a lack of more profitable altcoins. Again that's great for the stability of our coin and this will provide further confidence that Dogecoin is a good crypto to buy/adopt/invest.
Deflationary Inflation
Sounds confusing so let me explain unlike Bitcoin where there will only be 21 million coins mined, Dogecoin will reach 100 billion coins mined after block 600k and then see 5.25 billion coins mined each year forever which works out as 5.25% inflation in the first year and then 4.99% in the second year and so on.
While this may seem a lot I have come to the conclusion that it may be a blessing for Dogecoin as it is thought that 5 billion coins per year would be lost permanently anyway so this will 5.25billion coins would replace the lost coins. The extra 5.25 billion coins per year would be enough to incentivise miners to continue mining doge (which would hopefully be at a high enough price after the 600k block reward) and securing our network.
Because Bitcoin has a cap it is seen as a store of value like gold whereas Dogecoin has a infinite supply but at a predictably low yearly increase in fact from 2015 to 2020 Dogecoin will have less yearly inflation than Bitcoin. This can actually encourage people to treat Dogecoin as a true currency to buy everyday items with than as a store of value. I believe that is what Satoshi envisioned Bitcoin to be.
What are the whales doing?
The top 20 dogecoin addresses which account for 40% of all mined Dogecoin out there haven't sold any of their DOGEs.
The whales with large wallets have not sold their DOGE over the course of the last 4 months but the smaller wallets have! Why? The whales are happy to see their DOGE go to zero if they thought it was dying or they have been there and done that and know that perhaps Dogecoin is heading up? I can tell you I have no intention of selling my DOGEs as I believe interesting times are ahead.
The Bitcoin Effect
Bitcoin has paved the way for a crypto to go from $0.0001 to $1000+ and brought technological development, liberty and a sense of community all in a 5 year timespan.
While only $0.00023 Dogecoin has got an ecosystem, a following, funded several charity efforts and a burgeoning economy after only 7 months thanks in part to the network effect of Bitcoin and the rest down to you.
All I can say to you all is well done to all of you for being such a positive and productive community. Keep using Dogecoin and check the links at the side bar such as dogedoor.net and suchlist.com so that you can spend, buy, tip and mine doge and spread the word.
Now let's go to the moon!
TL;DR - Bitcoin had it's ups and downs and not short of haters over the years. Dogecoin is following the same path but in a shorter time frame. After the next 2 halvings Dogecoin price should be rising and adoption will speed up again which will make it a true currency so keep buying using and tipping doge wherever you can.
It's 8:09AM EST and we've found 87.24% of our initial 100 Billion DOGEs -- only 12.76% remains until our period of Hyper-inflation ends! Our Global Hashrate is up from ~76 to ~92 Gigahashes per second and our Difficulty is up from ~1196 to ~1351.
I Hope you enjoyed today's Guest Post by Justlite!
Note: To tip them directly:
+dogetipbot @Justlite xxx doge verify
GoodShibe
submitted by GoodShibe to dogecoin [link] [comments]

Technical Analysis Weekly Review: 5. Momentum & Volatility

Technical Analysis Weekly Review by ClydeMachine

Previous Week's Post:
4. Moving Averages & MACD
This Week:
5. Momentum & Volatility
Next Week's Post:
6. A Trading Plan, Part 1

5. Momentum & Volatility TL;DR


5. Momentum & Volatility

Let's tackle two topics this week! It's go-time!

Momentum = Acceleration or Deceleration

Momentum is the rate of change in a price over time. For our uses, we compare the current price to past prices and can calculate its rate of change thereafter. This gives us another perspective of how the security is moving rather than just the raw price movement data.
This view shows "Mom (10, close)" as our Momentum indicator, using 10-interval data based on the closing price of each interval.
Notice how the price activity and the momentum line appear very close. This is because in such events as big uptrends, like seen 07:30 and 09:00, often have increasing price, as well as an increasing rate of change. Meaning, not only is it rising fast, but it's rising faster as it goes. Similarly, the fall-off that follows starts off a fast decrease, but the rate of change decreases and the price settles around $819USD, with very low relative momentum.
Momentum lines will not necessarily follow a price line! They track changes in the price, not the price itself. If a price is rising at a consistent rate, the momentum line may show no change - because the rate of change is staying constant. Watch for this mistake in your own trading plan.
If the momentum line is flatlined, that means the price is no accelerating nor decelerating - this can still occur when the price is changing, so long as it is changing the same amount every interval!
Momentum can be used as a trend reversal signal, ahead of the actual price change. To use this as a leading indicator, watch for the momentum to peak, followed by a divergence in momentum and price (I.e. the price rises as the momentum peaks and falls). This can signal a change in price trend, and can help a trader exit a position.

RSI: the Relative Strength Index

So the momentum is changing right now - if it's a leading indicator that's used to predict price trend changes, shouldn't we sell right when a rising price trend has a change of momentum direction? Not necessarily. This is where we need more information: just how fast is the change occurring? Is this a strong trend change, or a weak one that could be bucked in the next few bars?
Enter the RSI. This indicator tells us the relative speed of the change in price. It uses averages over time, and is calculated as follows:
 100 RSI = 100 - -------- 1 + RS RS = Average Gain / Average Loss 
A more in-depth explanation of its calculation can be found here on StockCharts.com.
The RSI is represented as a value between 0 and 100, and typically falls between 30 and 70. Crossing above the 70 mark indicates the security is "overbought," meaning that the price change has occurred so quickly and changed so much that it is a prime opportunity for traders to take their profit - everyone already bought their share of the pie, and will be looking to sell while the getting is good.
The RSI, spending most of its time between 30 and 70.
Similarly, a drop below 30 means the security has changed in price so fast and so far in the downward direction that most traders have already sold their shares, and the coin is now considered cheap -an opportunity for bulls to buy back in.
A major issue to be aware of with the RSI is that a security can spend a long time in overbought or oversold territory when a strong price trend is occurring. This is a key time to watch for a divergence between price movement and the RSI line, as this could be a warning of an upcoming trend change.

Volatility = Variation in Price

When we look at the volatility of a security's price, we're really looking at the changes in the expect future price range. This is to help us better plan our targets to maximize profits and minimize losses. This measure is really looking to give you an indication of the level of risk you are facing. High volatility means higher profit potential and higher loss potential, while low volatility means less potential profitability and less potential loss.
A quick note about Bitcoin volatility: lower volatility encourages merchant adoption, as fewer significant changes in currency valuation generally means it's easier to tag items at certain prices denominated in XBTs. When the valuation fluctuates a lot in periods of high volatility, it's hard to know how much a single Bitcoin will buy. For that reason, vendors are forced to value their items in a traditional, more consistently valued currency, and adjust the actual Bitcoin denominated price according to how much of the traditional currency they expect to get. Example: A vendor wants to sell an item for Bitcoin, but is unsure if today's value of 0.058 XBT will have that same buying power a month from now - so she pegs the price at $50USD and will adjust the XBT price display as the value changes. Generally speaking, high volatility is opportune for aggressive traders, and low volatility is opportune for vendors and Bitcoin believers. There's the silver lining in both situations.
Also worth noting: Generally speaking, higher volatility and trader anticipation over a new price move are linked. Excited traders make for more excited price activity - it's a real thing!
How can we use volatility to our advantage in our trading plan? By creating channels that predict a future price range, of course! We can measure volatility using standard deviation. This is a "measure of the dispersion of prices away from the average," in Barbara Rockefeller's words. The raw standard deviation isn't a terribly useful indicator on its own, and you likely won't find it in trading software - because others have built on it to make more reliable indicators, one of the most widely used being Bollinger Bands.
So let's make a roadmap.

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Silver Shortage To Boost Price In 2019!?

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