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Showing posts with label speculation. Show all posts
Showing posts with label speculation. Show all posts

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.

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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.

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.

Tuesday, May 2, 2017

Japanese firms rushing in to try to stake claim to Bitcoin exchange license following crypto-currencies legalization

Like a stock IPO, there is nothing greater to corporations, banks, and financiers than the advent of a new industry they can seek to dominate and monetize.  And with Japan recently legalizing Bitcoin as a viable currency within their economy, the number of entities rushing in to stake a claim to the limited number of Bitcoin exchange licenses is growing.

So far at least 18 companies have filed an application for a Bitcoin exchange license, and this will only grow as the crypto-currency's value escalates, and the number of individuals wanting to own some increases.

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Eighteen companies are applying for the new license required to operate a cryptocurrency exchange in Japan. 
The licensing scheme, which Japan introduced in April, aims to ensure exchanges operate in full compliance with financial regulation and anti-fraud procedures.
As a result of the applications, some of which come from extant Japanese exchanges such as bitFlyer, ten new players are slated to debut on the market to meet a forecast surge in demand. 
These include SBI Holdings’ SBI Virtual Currencies, GMO Internet, Kabu.com Securities and Money Partners Group, Nikkei reports on Tuesday. 
Japan is witnessing something of a Bitcoin renaissance in 2017. A giant uptick in trading quickly combined with a cementing of regulatory perspective see business deals come thick and fast. - Coin Telegraph
Perhaps one of the few questions remaining regarding Bitcoin is whether the crypto-currency will eventually function primarily as an alternative form of money, or whether it will become dominated through financialization and speculation as most currencies and commodities are today through derivatives and rigged Forex trading.

Wednesday, April 5, 2017

Bitcoin finally to function as a currency as Japanese retailers rush to allow the digital money as payment

In the opinion of the staff here at The Daily Economist, a large number of Bitcoin advocates over the past few years have sold out the original mission of the crypto-currency as being primarily a form of decentralized money that individuals and entities could use as a medium of exchange for goods and services and instead have welcomed its financialization by both Wall Street type markets, and third party conduits.  By this we mean that Bitcoin has been seen and purchased more as a speculative investment versus used as a form of money.

But with the Japanese government suddenly buying into the crypto-currency last week, and setting forth a regulatory framework to allow it to function as a medium of exchange within their nation's borders, Japanese retailers on April 5 are now rushing in to get on board to accept Bitcoin in their online and brick and mortar stores.

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A few days after Japan recognized bitcoin as a legal method of payment, two of the country’s biggest retailers have sealed cooperation agreements with bitcoin exchanges to begin accepting the digital currency. 
The two leading retail groups, Bic Camera and Recruit Lifestyle, have announced trials of a bitcoin payment option, according to Japanese daily Nikkei. 
Bic Camera, a consumer chain selling electronics, has partnered with the Tokyo-based bitcoin exchange bitFlyer. The retailer will test the digital currency in two outlets. 
Consumers will be able to pay up to 100,000 yen ($900) using bitcoin, getting reward points at the same rate as for cash payments. 
Recruit Lifestyle, the retail branch of human resources conglomerate Recruit Holdings, is cooperating with another Tokyo bitcoin exchange operator Coincheck to include bitcoin payment option into its AirRegi application. 
The step will enable over 260,000 outlets across the country to start accepting bitcoin. Coincheck will process payments made by consumers using the app, converting bitcoins into yen and transferring the funds to the store. 
Japan is poised to become one of the leading cryptocurrency markets. Nearly 4,500 Japanese stores are currently accepting bitcoin while over 700,000 outlets actively use other modes of digital payments. - Russia Today