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Showing posts with label bitcoin. Show all posts
Showing posts with label bitcoin. Show all posts

Monday, June 5, 2017

Bitcoin now affecting company stock prices as investors flock to businesses who claim a cryptocurrency presence

There is no way around ignoring the comparisons between today's cryptocurrency mania, and the Dot Com boom of 20 years ago.  In fact, with the number of cryptocurrencies expanding almost daily, and investors piling into them without even having the slightest idea of what these cryptos represent, Bitcoin mania is now even affecting equity markets and stock prices in countries such as Japan.

The speculative frenzy in bitcoin is spilling over into the Tokyo Stock Exchange. Remixpoint Co., Infoteria Corp. and Fisco Ltd., have all seen volatile swings in their share prices after announcing businesses related to digital currencies. 
Remixpoint has more than doubled since tying up with Peach Aviation Ltd. to let customers pay for tickets with bitcoin. Infoteria, up 58 percent in the past month, is testing ways to let shareholders vote by proxy using blockchain, bitcoin’s underlying technology. Fisco, a financial information services provider, began operating a bitcoin exchange last year and is up 26 percent since early May. 
All of these gains coincide with bitcoin’s rally, with the value of the virtual currency doubling against the U.S. dollar since early May. That has made the stocks of the these small-cap companies an attractive way for speculators to invest in cryptocurrency markets without buying them directly. That’s because investors can make bets via their brokerage accounts instead of taking risks with bitcoin exchanges, according to Naoki Murakami, a well-known day trader in Japan. 
“From about a month ago when all these virtual currencies started spiking like crazy, we began seeing the so-called ‘stocks of the virtual currency bubble,”’ said Murakami, a frequent speaker at investor conferences. “Not everyone is sure they can trust bitcoin exchanges. And some don’t have accounts there. That’s why they’re using the stock market to speculate.” - Bloomberg
Bottom of Form
With money being extremely cheap today for investing just as it was during the Dot Com boom of the middle to late 1990's, and the wealthy having little trust in the value and stability of their own sovereign currencies, then cryptocurrencies and the businesses which are tied to them will continue to see billions poured in to provide a means of wealth protection, and that ever elusive demand for something that provides a modicum of yield.

Saturday, June 3, 2017

Long time Bitcoin advocate changes course and says sell your cryptos and buy gold

While not on par with the biggest cryptocurrency advocates in the alternative sphere, economist Raoul Pal has for a long time been one of the most well known, especially for his forecast months ago in which he said the value of Bitcoin would one day climb to over $1 million.

However in the past few days the strong supporter of cryptocurrencies has had a change of heart and is now selling his Bitcoin, as well as calling for others to do so, and to instead shift their wealth preservation assets back into the long-standing solidity which one has in physical gold.

Raoul Pal, one of the most effective critics of mainstream economics, is cashing in his Bitcoins. Gold is a better wealth preservation tool, says Real Vision Television’s co-founder. 
Yesterday Pal, who once thought that Bitcoins could eventually be worth as much as $1 million each, informed Real Vision Publications subscribers that he was selling the digital currency. 
“Bitcoin not a store of value people thought it was,” he told Sprott Money News, in a telephone interview this morning from his Cayman Islands home. “If core developers are talking about changing the Bitcoin code or how it works, what happens if - at some future point - they decide to allow the number of coins to expand?” 
Pal also cited lack of a Bitcoin “killer app,” and the commoditization of blockchain technology - as new players chip away at the market - as motivating his thinking. 
Pal’s call is also important for another reason: if Bitcoin’s allure as a store of value and a hedge against systemic collapse is dimmed, this would increase the relative value of other solutions. 
That includes gold, for which Pal’s partner Grant Williams has been a particularly strong backer. 
Despite Pal’s pessimism about Bitcoin’s future, the alternative investment guru admits that the digital currency “may go up in price, maybe a lot more,” before its ultimate future is decided. 
But Pal won’t be going along for that last leg. - Sprott Money

Friday, June 2, 2017

Russia announces they looking to introduce a sovereign cryptocurrency in the future at St. Petersburg Economic Forum

Those who are strong advocates for Bitcoin and other cryptocurrencies know that one of the best features in these digital monies is the fact that they are decentralized and not under the control of both central banks, and sovereign governments.  And it is this factor that has allowed individuals to use crptocurrencies as a means to get out of sovereign controlled fiat currencies and into perceived safe havens for their wealth.

But the biggest fear in the cruptocurrency community has always been the co-opting of the Blockchain by The Powers That Be to use the technology to create their own digital currencies which could then allow governments to outlaw the decentralized ones, and force individuals into using their own controlled ones.

To date regulations on cryptocurrencies has been far from standardized, with countries like the U.S. labeling them as securities (property), countries like Japan welcoming and legitimizing them as currencies, and countries like China imposing strict oversight on investors who buy and sell them.  But now on June 2 one country has announced their intention to create a sovereign national cryptocurrency which changes the ballgame entirely for the crypto community.

The Central Bank of Russia has plans to introduce a national cryptocurrency of its design, according to Deputy Governor Olga Skorobogatova. 
"Regulators of all countries have come to the conclusion that it is necessary to do a national virtual currency. This is the future. Each country will decide the issue of a specific time and maturity independently," said Skorobogatova, speaking at St. Petersburg International Economic Forum (SPIEF 2017).
Skorobogatova said testing of a national virtual currency has already taken place on the Masterchain and Hyperledger platforms. 
She added that the details of the project could be revealed in two to three years. 
While Russian officials have been divided on cryptocurrencies, the technology has been backed by the financial sector, most notably by Herman Gref the head of Russia’s largest lender Sberbank. 
During the Forum, First Deputy Chairman of the Bank of Russia Sergey Shvetsov also said that one of the Russian stock exchanges is planning to allow trading in virtual currencies. 
“There is a discussion whether it is a commodity or not," he told RIA Novosti.
Cryptocurrencies could be recognized in Russia by 2018, said Deputy Finance Minister Aleksey Moiseev in April. Although he expressed concern about the anonymity of transactions. 
“The state needs to know who at every moment of time stands on both sides of the financial chain,” Moiseev said in an interview, as cited by Bloomberg. “If there’s a transaction, the people who facilitate it should understand from whom they bought and to whom they were selling, just like with bank operations.” - Russia Today

Sunday, May 28, 2017

Mainstream business analysts finally get on board with Bitcoin as they start to advocate ownership of cryptocurrencies in clients portfolios

It is ironic that as mainstream business shows such as CNBC, Bloomberg, and Fox Business News vilified Bitcoin and all cryptocurrencies for years, they are all of a sudden now getting on board once the digital currencies showed themselves to be the best performing assets of 2017.

Yet this acknowledgement of Bitcoin, Ether, Ripple, and many other crypto's being a viable investment appears to be only the beginning as more and more investment managers are advocating to their clients that cryptocurrencies need to be a vital part of their investment portfolios.

Boris Schlossberg of BK Asset Management has joined the cadre of investment advisors who see bitcoin as a way for investors to hedge their bets against market uncertainty. Schlossberg, according to CNBC, sees bitcoin as an addition to an investment portfolio in the wake of political uncertainty. 
Schlossberg sees parallels between bitcoin and gold, and he noted that bitcoin is being called the “new gold,” due to its ability to retain value over time. 
He noted that bitcoin is holding steady following its 92% rally this year. Speaking Wednesday on “Trading Nation,” Schlossberg said the cryptocurrency is holding at steady highs, and that when there is a big move for any type of instrument, there is usually some continuation. 
Bitcoin is clearly signaling more demand, Schlossberg observed. He favors it as a hedge play moving forward. - Crypto Coins News
Additionally, a contributor to CNBC on May 28 analyzed Bitcoin the same way he would an investment and highlighted the risk - reward potential that it and other cryptocurrencies offer.
"I wish I’d invested in Bitcoin," is a response I usually hear when I tell people how much they could have made off the cryptocurrency if they had bought it at the start. Just to be clear, if you bought US$100 worth of Bitcoin in 2010 when it was worth 0.003 cents each, you’d be sitting on more than $88 million. 
It all sounds so easy. But for regular investors in Bitcoin - those not heavily involved in the cryptocurrency world - Bitcoin has a confusing reputation. It’s known to be highly volatile with wild price swings, but at the same time some, such as Bobby Lee, the co-founder and chief executive of Bitcoin exchange BTCC, have called it a safe-haven asset. 
"When the existing money system has problems, people turn to Bitcoin, sort of like people used to go to gold in the old days," Mr Lee told CNBC in a recent interview. - The National AE
While most in the crypto world believes Bitcoin is a currency, most of Wall Street and the rest of the mainstream financial world believes it to be a security.  And with more and more brokers and institutions starting to advocate its purchase and ownership of cryptos in personal and joint portfolios, the volatility will continue to be high, and everyone who owns a cryptocurrency must respect this and trade accordingly.

ZenGold blows away Dubai's OneGram during their respective ICO's last Friday

On May 26, two gold backed cryptocurrencies commenced their Initial Coin Offerings (ICO), with differing results for each after the first day of trading.  ZenGold, which is cryptocurrency model based on the sale and distribution of 100 million tokens that are each backed by physical gold bullion. sold out its complete offering of 63 million coins in a single day.  And one of the biggest reasons for the incredible success might have been the fact that ZenGold was allowing the use of cryptocurrencies such as Bitcoin and Ether to be used in purchasing the tokens.


In the meantime, Dubai's gold backed OneGram cryptocurrency had a much less successful beginning as their ICO started on the eve of Ramadan, and is set to continue all the way through the duration of the Islamic holiday (June 24).

And as of the end of Friday OneGram had sold only $430,000 worth of a $500 million offering.
OneGram announced at Consenus this week the world’s first Sharia-compliant, gold-backed digital currency. The company also announced details for its “OGC” token crowdsale which will begin at the onset of Ramadan. The Initial Coin Offer (ICO) will continue for 120 days. OneGram seeks to raise an astounding $500 million by selling more than 12+ million OGC tokens. As of today, over $430,000 has been deposited, according to the OGC ICO page. - Crowdfund Insider
Interestingly, there might have actually been a parallel to Bitcoin's $800-900 drop in price on Friday, as it is very possible that Asian investors either sold their Bitcoin to get into ZenGold's ICO, or used their Bitcoins directly in purchasing the new gold backed cryptocurrency.
Friday May 26, 2017 ZenGold launched a cryptocurrency backed by physical gold. Bitcoin and Etherum cryptocurrencies began moving violently in the market place on Friday May 26. ZenGold accepts Bitcoin and Ethereum as currency for the “tokens” of ZenGold.
Would it make sense the drop in both Bitcoin and Ethereum as being related to people moving their cryptocurrencies into ZenGold? Asians love gold and with a gold backed cryptocurrency coming online that accepts the two most popular cryptocurrencies it makes to me that some of what we have seen over the past 48 hours is directly related to the launch of ZenGold. - The Daily Coin

Saturday, May 27, 2017

Gold ends week above key resistance level and at highest price in a month

On May 26 gold ended market trading at the highest price in a month, and with positive gains over the past three weeks.  But even more important was the fact that the gold price closed above a key resistance level that signals a bullish move going forward for the precious metal.

Chart courtesy of Economies.com
Gold price ended today and this week trading above 1263.00 level, which confirms the continuation of the bullish trend in the upcoming sessions, waiting for more gains that reach to 1295.37 on the near term basis, reminding you that holding above 1249.94 is important to keep the chances of continuing the expected rise. - Economies
Ever since gold and silver prices were beat down severely in the early part of May with a record streak of 14 straight days of declining prices in the white metal alone, gold has recovered more than $40 from its lows and is now overall positive for the month.  But this has not been the only alternative monetary class to see positive gains in May as both silver and Bitcoin have done extremely well at the same time the dollar has fallen over 200 bps on the dollar index.



Friday, May 26, 2017

Bitcoin's market cap is now larger than that of Germany's largest bank

With the extraordinary moves in price for Bitcoin and other cryptocurrencies since the beginning of the year, it was only a matter of time before their market caps began to compete with some of Wall Street's biggest companies.  However with the price more than doubling in just the past 20 days alone, an interesting fact has emerged that could soon shake the entire financial industry.

Because as of May 26, the market cap of Bitcoin is now greater than that of Germany's largest financial institution Deutsche Bank.
Bitcoin’s market cap is now $2 bln higher than that of Deutsche Bank, as an upwards price correction takes it over $40 bln once more. 
Data uploaded to Reddit shows Deutsche Bank’s market cap at €35 bln ($39 bln) and trending downwards, while Bitcoin has mostly recovered from yesterday’s losses, CoinMarketCap shows.
Bitcoin Charts

It is perhaps not as ironic as one would think that a completely virtual form of money would grow to have a larger global footprint than longstanding financial institutions that primarily deal in sovereign fiat currencies since the wealthiest industries today in regards to market cap are almost all tech companies listed on the S&P 500.  And it is also a signal to economies that digital forms of money are quickly supplanting the long-standing paradigms of physical cash ownership, and could soon become the standard just as robots soon replace workers in any myriad of industries.

Thursday, May 25, 2017

Bitcoin bonanza in Asia as rush to get out of fiat currencies drives price of cryptocurrency to a whopping $4500 per coin

It has not been difficult to figure out that as Asian economies have begun to show signs of recession and economic decline, the need for individuals and institutions to get out of their devaluing currencies is a must.  And by far the most liquid and primary asset in which most are going into over the past two months is Bitcoin.

A week or so ago we published an article showing that more than 48% of all Bitcoin transactions in recent days have occurred in Korean and Japanese exchanges, with most of these purchases being tied to institutional investors.  However it appears that the push to $2300 less than seven days ago was just the tip of the iceberg as Asian buyers, especially in South Korea, have now propelled the price of Bitcoin to over $4500, or a near doubling in less than a week.

As Bitcoin.com reports, the region has also been blossoming with startups dedicated to bitcoin remittance and financial tech advancement. 
The South Korean government has been very friendly towards digital currencies, and the country is steadily becoming a technology hub. Just recently the government lowered the equity capital requirement for bitcoin companies working with remittances. The new statutes will begin on June 18 with a reduction of required capital to 1 billion KRW in contrast to the prior requirement of 2 billion KRW. 
Additionally, researchers from the South Korean central bank recently released a report that detailed that virtual currencies like bitcoin can “coexist with fiat.” 
"The recent emergence of digital currency opens up a new type of dual currency regime in which digital currency, which has no intrinsic value and a government-issued fiat currency coexist,” explained the researchers from Seoul’s Hongik University and members of the Bank of Korea’s (BOK) report. 
The wide spreads are unprecedented even compared to other recently inflated markets such as Japan, local exchange bitFlyer listing a price of 333,200 yen ($2980).
On Coinbase, one Bitcoin is currently selling for $2667.53 as of press time on Thursday. 
Users have presented various theories as to why South Korea’s exchange market is so varied, these ranging from capital controls to en masse arbitrage and even a “debt-fuelled bubble” economy. 
Bitcoin itself, meanwhile, is continuing to produce new price highs, flying in the face of those concerned that a new bubble has formed. - Zerohedge

Wednesday, May 24, 2017

Bitcoin mining going mainstream as brokerage house Fidelity admits to mining the cryptocurrency

It is one thing for a sovereign government, central bank, or finance ministry to simply accept a cryptocurrency as money, but when a Wall Street brokerage house creates a desk to actually mine Bitcoin, then you know that the digital money has become accepted at the highest levels of finance.

In what bitcoin geeks undoubtedly interpreted as a sign of bitcoin’s renewed relevance now that its price is at all-time highs, Fidelity CEO Abigail Johnson told CoinDesk’s Consensus conference that her company is now in the business of mining bitcoin. 
Per the FT: 
“Ms Johnson noted that Fidelity has also set up a bank of computers built by 21 Inc that can crunch complex algorithms to be rewarded with bitcoin. 
“My…computer has mined over 200,000 satoshis,” she said, using the name for the smallest unit of Bitcoin. - Zerohedge
In the halls of Wall Street, if there is money to be made then no irrelevant asset class or idea is discarded or looked upon as trivial.  And if brokers across the spectrum really decide they want to financialize cryptocurrencies en masse, then regular individuals better be wary because the financial centers of the universe have the capital to buy it all up, and after that the real fun begins.

Forget sovereign currencies and governments, the market is bringing a return to the Gold Standard through cryptocurrencies and digital banking

One of the most important paradigms that individuals, governments, and companies must overcome is that as technology progresses, so too does the way business is transacted.  And while there have been many calls over the past 40+ years for the monetary system to somehow return to a Gold Standard, the advent of the internet and the digital age is allowing this to occur outside the control and intervention of sovereign governments.

With the rise of online banking and the different types of financial entities functioning outside the banking system, the ability for one to both save and conduct commerce in gold is no longer a purview of sovereign governments, central banks, and finance ministries.  In fact, even before the mainstream rise of cryptocurrencies, several companies such as GoldMoney and Karatbars have allowed individuals to store their wealth in gold and then spend it as if it were a debit card or online bank.

But now that the blockchain has completely revolutionized the way commerce is conducted and how money is accepted, a return to a Gold Standard is no longer relegated to theoretical discussions in the classrooms of universities or the conference rooms of think tanks.  And in fact, a return to the gold standard may be already here.

Image result for gold backed cryptocurrency
Bitcoin is often referred to as a “good” money because of its limited supply, relative fungibility and ease of exchange. If gold can also start to satisfy those requirements, a seismic shift from fiat to digital could be easier to “sell”—the public is predisposed to trust gold, certainly more so than cryptography.  
It could also open the door to the creation of a new global currency as an alternative to the dollar, something that Russia and China are rumored to be looking at. 
We sure do live in interesting times—and it is not all that far-fetched to think that OneGram, or another gold-backed crypto currency like it, could be a stealthy way to introduce a new global gold standard. - Forbes

Tuesday, May 23, 2017

U.S. Congresswoman submits bill to tie cryptocurrencies to terrorism but real threat is fear of Bitcoin supplanting the dollar

On May 18 U.S. Congresswomen and member of the House Counterterrorism and Intelligence subcommittee Kathleen Rice, pushed through a bill that would call for a threat assessment of all cryptocurrencies and their ties to terrorism and the funding of it.  However according to cybersecurity experts, the real reason for the this bill is the growing fear by Washington that Bitcoin and other cryptocurrencies could, and are supplanting the dollar and other global sovereign fiat currencies.

US Congresswoman Kathleen Rice has introduced a bill tasking Homeland Security with conducting a threat assessment for terrorists using virtual currencies such as Bitcoin, despite evidence terrorist groups use such payment methods is scant. A cybersecurity expert has told Sputnik the real fear is Bitcoin supplanting national currencies. 
"We will see an increase in terrorist groups using it as more and more members of the public use it. More people know about it, more and more websites accept it as a payment method, it's becoming increasingly pervasive in the digital world. It can be used for good or bad, but I hope it'll become a universal currency. There is no central authority with Bitcoin — no banks or financial organizations control it, the people who own it do — and users can bypass a lot of financial services fees as a result," he adds. 
Still, Dr. Curran believes there's "no doubt" Bitcoin will be the currency of the internet in years to come. It will become more regulated, and politicians will progressively view it as a threat to mainstream financial institutions and currencies as it becomes further accepted. Moreover, he's certain it'll be difficult if not impossible for governments to truly put a stop to it — the internet has no borders, and national bans won't be effective. - Sputnik News
For all intents and purposes, nearly every war is a 'banker war', or the need for the U.S. to ensure that dollar hegemony reigns supreme over the global financial system.  And when you look at the true underlying reasons behind the ousters of Libya's Muhmmar Ghaddfi, and Iraq's Suddam Hussein, and the insurgencies of Ukraine and Syria, then you would find that every one of them either had to do with protecting the dollar as the global reserve currency, or protecting the petrodollar system that is being supplanted by Russia's new pipeline projects.

Thus anyone who doesn't believe that as Bitcoin and other cryptocurrencies rise in both popularity and use that the U.S. government will not take steps to ensure their failure or encapsulation, is someone who has not paid attention to history and the willingness of Washington to use any means necessary to protect their monetary dominion over the rest of the world.

Sunday, May 21, 2017

Bitcoin suddenly becoming the investment of the elite as price soars to over $2300 in some Asian exchanges

When Satoshi wrote his White Paper back in 2008 regarding the creation of a money form that would be secure and outside the control of sovereign entities, the underlying premise was that it would not only change the way commerce was conducted, but also provide the common person a means to store their wealth in an asset that was absent of monetary devaluation.

And while it took about five to six years for Bitcoin to move away from the fringe of society, where it was half seen as a novelty and half seen as the savior from the world's fiat monetary system, its sudden emergence into the mainstream has been incredibly robust and unlike anything ever seen in monetary history.

But as we enter into the second quarter of 2017, what was originally intended for the masses to be used as a medium of exchange has suddenly turned into a speculative investment that is being lapped up by the very institutions that would see it financialized instead of used as a real currency.  And the massive rise in value over just the past five months is threatening to categorize the cryptocurrency as a bubble, and scare away many individuals who might seek an alternative to the dollar, euro, or yen as a way to secure their wealth.

Image result for bitcoin bubble
Bitcoin price established its new all-time high at $2,087 earlier today after surging past its previous all-time high set at $2,050, with demand toward Bitcoin rising from institutional investors in the US, Japan and South Korea. 
At the time of writing, Bitcoin is being traded in Japan and South Korea, the second and third largest Bitcoin exchange markets in the world, at around $2,350, at an 11 percent premium relative to the global average Bitcoin price and the price listed by US-based Bitcoin exchanges. 
Analysts including Charles Hayter, the CEO of CryptoCompare, explained that the Japanese and South Korean Bitcoin exchange markets played a key role as the driving factor of Bitcoin’s recent price surge. In an interview with CNBC, Hayter stated
"Arbitrage between the fiat pairs drags markets up or down in line with leading markets. At present, volumes on the KRW and JPY pairs dominate trading with a combined 48 percent market share.” - Coin Telegraph
From a purely fundamental point of view, investors and owners of Bitcoin need to realize that the market is treating the cryptocurrency like a security, and at a time when nearly all other assets such as bonds, stocks, and real estate are at all time highs.  And one of the reasons that Bitcoin is skyrocketing in price and value right now is because institutional players are moving money into what they believe is one of the very few potentially undervalued assets.  But like with any security or investment that receives too much buying in a short amount of time in relation to selling, at some point it will hit terminal velocity, and the fall in price will be just as fast as the velocity in which it rose.

Saturday, May 20, 2017

ZenGold is the newest gold backed crypto-currency to hit the markets as ICO set for May 26

Last week the nation of Dubai announced the creation of a blockchain based crypto-currency that would be backed by physical gold, and would be compliant with the new dictates of Sharia law finance.  And this gold-backed crypto-currency idea was quickly followed by a plan between the Chicago Mercantile Exchange (CME) to do the same with physical gold backed by the UK Royal Mint.

Now a third company is seeking to get off the ground by creating a new gold-backed crypto through an Initial Coin Offering (ICO) on May 26.

Image result for gold backed cryptocurrency
ZenGold, a project developed on Metaverse Blockchain, announces its ICO campaign on Friday, May 26, 2017 3:00 PM (GMT+8). 
ZenGold aims to create crypto assets that are backed by physical gold in order to enable investors to instantly buy and transfer even a very small fraction of gold anywhere in the world while having pertinent asset information securely stored onto an unalterable Metaverse Blockchain. 
The ICO will last for 15 days. The closing date is Friday, June 9, 2017 3:00 PM (GMT+8). The total number of 63.000.000 ZGC tokens will be distributed within the campaign (if the set sum is achieved before the closing date, the campaign will end before June 9). 
BTC, ETH, ETC and ETP will be accepted during ICO campaign. The “Early bird” bonuses (up to 20%) will be announced by ZenGold for those contributing at the early stages of ICO. 
ZGC tokens will enable its holders to use gold as an effective payment mechanism and credit system while benefiting from the transactional functionalities of Blockchain technology. The gold-backed tokens will be minted into existence only by the purchase of an actual gold. Thus 1 ZGC token will always represent the ownership of 1 gram of the physical gold securely stored in Shanghai Gold Exchange. The developing team has set its sights on establishing ZGC token as a better alternative to the traditional form of storing value and making a strong case for reshaping the financial service industry in the future. 
By providing efficient governance and security strategy as well as clear business vision, ZenGold invites the investors to become early holders of ZGC tokens. Those interested can invest via three different channels: 
www.zengold.org(accepting payments in BTC, ETP and ETH).
www.ico365.com(accepting payments in BTC and ETH).
www.btc9.com/ico(accepting payments in BTC). - Coin Telegraph

Bitcoin growing as a currency as UK company to use it as payment at 27 airports

One of the biggest debates in recent weeks as the value of Bitcoin skyrockets to nearly $2000 per coin is whether the crypto-currency is really a medium of exchange, or simply a security that allows one to store their wealth in a decentralized digital wallet.  And while the argument has been strongly on the side of it being a security thanks to Chinese and Japanese investors using it simply as a way to find an alternative to their own devaluing currencies, on May 19 a British company is pulling Bitcoin back onto the currency side of the ledger by allowing its use at all 27 UK airports for extraneous payments such as short and long-term parking.

SkyParkSecure, an airport parking provider in the United Kingdom, is now accepting bitcoin for payments at a number of airports across the region in cities including London, Liverpool, Glasgow and Belfast. 
Are you a frequent flier in and around the UK? A parking provider will now take your bitcoin. SkyParkSecure will automatically convert the fiat pricing of a parking ticket into Bitcoin for quicker and seamless payments directly from your cryptocurrency wallet. 
Based in the North-West of England in Blackpool, SkyParkSecure doesn’t own or operate car parks but acts as a booking platform for airport parking and a host of other travel services including hotels and lounges. The parking provider claims to have facilitated over 1.6 million bookings on its website and ropes in customers with discounted rates. 
Now, SkyParkSecure has laid claim to becoming the first independent UK travel company to accept bitcoin for airport parking. - Crypto Coin News

Friday, May 19, 2017

Bitcoin just $50 away from $2000 and doubling its price in just five months into 2017

With Asian speculators in both Japan and China driving up the price of Bitcoin to all-time record highs, the crypto-currency is now on the cusp of doubling in just the first five months of 2017.

The current Bitcoin price is just over $1950 and could possibly hit $2000 by the end of Friday's market session.

Bitcoin traded for just over $1,000 on 1st January, but has edged up sharply amid increasing media exposure for its technology and those in the wider blockchain tech sector. Indeed, on at least two exchanges - Poloniex and Bitfinex - the price was even hovering just over $1,960. 
Year-over-year, the price of bitcoin is up 300%, having risen to $1,900, up from $453 on 18th May, 2016. At press time, bitcoin's market capitalization (the value of all bitcoins in existence) was $31bn. - Coindesk
Bitcoin's meteoric rise has also helped increase the price and market cap of nearly all other crypto-currencies, such as with Etherium which has risen 1700% also since the beginning of the year.

Monday, May 15, 2017

Bitcoin has emerged as one of greatest investments of all time over seven year period if investors got in early

There is a reason why the equity markets are known as the 'risk trade', because no one truly knows if a particular stock or company will succeed or fail before these stocks become spoken of regularly in the mainstream.  In fact one of the key indicators of a stock's success is often whether it gets picked up by mutual fund managers as part of their clients investment or retirement portfolios.

Yet outside of bonds and real estate, virtually any investment can be labeled as a risk trade, especially in this era where fundamentals and technicals no longer play a significant role in their future price.

And unfortunately for the average Joe investor, they rarely receive the proper guidance or advice about potential life-changing investments from their broker unless that professional has a personal stake in a particularly risky investment scheme.  And because of this, the majority of individuals missed out on perhaps one of the best investments of all time when the price was sitting at approximately .09 back in 2010.

And what was that investment opportunity that has seen its price rise from just .09 to just under $1800 per?  The answer of course is Bitcoin.

On May 13, StockTwits, the world’s largest financial communications platform for the investing community, revealed one of its users’ growth chart comparing various currencies, bonds and assets. In it, a StockTwits user by the name of Charlie Bilello noted that a $10,000 investment in Bitcoin made in July 2010 would have earned investors a $200 mln return. 
To be exact, a Bitcoin investor who purchased $10,000 worth of Bitcoin in 2010 would have earned $201.56 mln. - Coin Telegraph
Assuming an individual had invested $10,000 back in 2010, they would have been able to purchase approximately 114,793 Bitcoins.  And with today's current price at around $1754, that would equate to an estimated value of $201,560,000, or 20,156x roi (return on investment).

Now compare this to what is considered to be the top all-time ROI of 1300x when John Grey invested $10,500 into the fledgling Ford Motor Company in 1903 and you can see this example pales in return to what someone who invested a similar amount in Bitcoin today would have earned.

In the end it is nice to dream about the what ifs when it comes to missing out on a diamond in the rough, but the fact of the matter is very few actually saw the potential of Bitcoin during the first few years of its existence.  But for those who did, and who did not sell a few years back when it had its first big jump to just over $1100 per bitcoin, it has become a lucrative and life changing investment with an even greater potential now of succeeding into the future.

Yet at $1745 per Bitcoin today, who has the stomach or the available cash to invest in it now that it is once again near its all-time high?  Thus it remains as it was back in 2010... a risk trade with great potential for massive gains, or massive losses.

Saturday, May 13, 2017

Will the future of crypto-currencies be fiat like Bitcoin, or gold backed like the CME is creating?

Despite all the hoopla of crypto-currencies like Bitcoin being the potential future of money, the fact of the matter is they are no different than nearly all other currencies except that they will be limited in production, and outside the control of governments and central banks.  And it is this caveat of being a fiat based currency (backed by nothing) that could find gold backed digital money a more favorable choice for individuals to own.

Last week we wrote about a new gold-backed crypto-currency being created in the country of Dubai, which is pretty certain to be backed by real gold since they are required to follow the new standards laid out by the Sharia Finance Council back in December.  And on May 11 the Chicago Mercantile Exchange has now joined in the movement to put gold and silver on the Blockchain when they signed an agreement with the British Royal Mint to create their own gold backed currency that is expected to also be tied directly to physical gold.


Because of its scarcity, portability, divisibility and current valuation, many people are calling bitcoin the modern "digital gold." And like gold, bitcoin seems to be establishing itself as a popular store of value. 
But now CME Group, one of the world's largest providers of gold futures contracts, wants to bring real, physical gold to a blockchain-based asset, and it has landed a big partnership with the U.K.'s Royal Mint. 
By any standard, CME Group is a juggernaut in the world of high finance. Handling approximately $1 quadrillion worth of derivatives contracts annually, it is an influential player in the global gold market. And having roots in commodity trading since 1898, it is no stranger to the challenges of an evolving marketplace. Which is why the company has now set its sights on blockchain technology. 
According to a blog post by Sandra Ro, CME Group's head of digitization, the new asset will be a token known as RMG (Royal Mint Gold), and backed by physical gold in the Royal Mint vaults. Currently being tested for security and speed, RMG will allow instant transfers of gold to anyone anywhere in the world. And, Ro insists, it will bring a new era of accountability and gold-trading standards, saying, "There is no rehypothecation, there is no lending on that gold, and there will be enough physical gold to represent all the RMGs that are issued." With an initial launch planned for summer of this year, The Royal Mint plans to back the token with up to $1 billion in physical gold bullion. - Nasdaq

Tuesday, May 9, 2017

At $1700 per coin and climbing, is Bitcoin this year's best performing currency, or best performing investment?

It took barely 48 hours for Bitcoin to jump from $1600 per coin to over $1700, but that is exactly what took place as of this morning on May 9.  But at the same time there was an interesting caveat that also took place that begs the question of whether Bitcoin should be considered the best performing currency to date in 2017, or instead the best performing security (investment).

If Bitcoin is supposed to be a currency that runs in competition to the dollar, yen, euro, etc..., then by all monetary logic it should be moving in opposition to each individual currency that it is priced in.  However when Bitcoin jumped to over $1700 earlier today, it did so when the dollar had strengthened by over 100 bps on the dollar index, meaning that it was moving in tandem, rather than in opposition to the dollar.

Those are the actions of a security rather than than a currency.

Bitcoin Chart:


Dollar Chart:


Another interesting thing to ponder is who exactly is buying Bitcoin right now?  We know from public reports that investors/entrepreneurs like the Winklevoss Twins own between $10 - 25 million worth of Bitcoin as they bid to put the crypto-currency into a financialized ETF, and Billionaire Michael Novogratz has stated that he has put 10% of more of his wealth into both Bitcoin and Ether coin.

So perhaps the question that has to be asked is not if Bitcoin is a currency versus an investment, but what is the market itself saying Bitcoin is based on its price movement, and how it is relating to all the world's currencies it is denominated against.

Monday, May 8, 2017

Money psychology: Is Bitcoin price already too high for desirability as a currency?

The advent of Bitcoin, as well as rise of the blockchain and its growing number of different crypto-currencies, is bringing forth a great debate on whether these constructs of digital money are the wave of the future for consumers, savers, and investors.

But there are a few very interesting things that are bing missed by most individuals in the Bitcoin eco-sphere, and these are the psychology of money, and the fact that as Bitcoin has now crossed over $1600 per coin, and is being forecast to possibly go as high as $4000 by the end of the year, has the crypto-currency priced itself out of the general market?  And perhaps even more, has it already destroyed its psychological value to individuals as a viable form of money?

A layman's definition of what money is can be determined as this:  An idea backed by confidence.  And for something to be considered a medium of exchange (money) it must have the intrinsic properties that all monies have (store of value, divisible, fungible, portable, etc...), but it also must have the confidence, be it forced (by government), or voluntarily accepted (by critical mass of consumers and retailers), to act as a recognized medium of exchange.

Thus as the price of Bitcoin in dollars as well as other currencies skyrockets due to speculation and investor sentiment, the question that has to be asked is whether or not Bitcoin has priced itself out of the ability to become an accepted currency, simply by the fact that the majority of individuals today can only afford to purchase fractions of the currency, rather than whole Bitcoin's themselves.

Picture this.  A person has $20 they can afford to use to purchase Bitcoin, so they create a digital wallet and go through an exchange to buy some of the crypto-currency.  Now this individual understands the basics of monetary division when it comes to dollars as they have used quarters, dimes, nickles, and pennies for nearly all of their lives.

But at today's price, $20 will buy that individual only .0125 of a Bitcoin, which in physical terms would equate to a penny and a quarter of a penny.  So psychologically, that individual has exchanged $20 for a penny.


Now of course in the crypto-currency realm .0125% of a Bitcoin is not valued at one cent, but you can see the psychology of this as people used to dealing in round numbers and limited fractions in their money now have to go outside the box to try to come to the understanding that it will be unlikely they will ever own a single full Bitcoin since more than half of Americans alone cannot even afford to pay $500 if a sudden emergency required them to come up with those funds in addition to their normal budget.

Then of course there is the reality that the amount of retailers who deal in Bitcoin is still quite limited, and the marketing of Bitcoin as a viable medium of exchange in the mainstream is almost negligible.  And also the fact remains that if people don't see Bitcoin promoted in the mainstream media, or shown in some viable application from the commercial advertising they are programmed to trust, then Bitcoin, as well as other crypto-currencies, will remain as fringe ideas and concepts, or as simply a construct traded in financial markets under the guise of a speculative investment.

Wednesday, May 3, 2017

What happens with Bitcoin in Vegas, stays in Vegas as privacy benefits of crypto-currency shield consumer's vices

When used as originally intended, Bitcoin provides a way for users of the crypto-currency to conduct commerce where they are shielded from publicly scrutiny in their transactions.  And in a place like Las Vegas, where any and all vices can be purchased, more and more companies who traffic in vice are using Bitcoin as the means to protect their clients be they famous or common.

Image result for bitcoin sin city
Enterprising businesses and independent contractors in Las Vegas seeking to protect their clientele by hiding the paper trail of their expenses are using cryptocurrencies, including the popular bitcoin, in increasing numbers. 
Bitcoin and similar cryptocurrencies are being used in US gambling capital Las Vegas, Nevada, with ever-increasing frequency, as entrepreneurs and independents alike seek to take advantage of networked financial anonymity. 
While sex workers in the desert mecca of hedonism have been using bitcoin for several years, now businesses, including strip clubs, are implementing the cryptocurrency networks for anonymous transactions. 
Recently, Las Vegas's Legends Room strip club announced that it will not only take bitcoin as payment for all services, but will also create its own proprietary cryptocurrency for clients to use to make payments and also to trade or gift among themselves. 
By setting up their own cryptocurrency, Legends will enable clients to use networked anonymous financial transactions tied to the current exchange rate of bitcoins, which can then be rented or sold. 
"Liquidity: if you own a membership and want to sell it, you can just sell your tokens in an exchange," a club spokesperson told Ibtimes.com. 
Sex workers operating independently are using cryptocurrencies with increasing frequency as well, as the anonymity benefits a trade that finds it necessary to fly under the radar. - Sputnik News
While politicians and law enforcement try to use the argument that crypto-currencies are solely the purview of drug cartels and money launderers, the fact is that many everyday transactions by individuals constitute the need for privacy and/or anonymity, and thus Bitcoin satisfies this requirement no matter what a person may be looking for during a stay in Sin City.