Bitcoin Domain-Name Prices Defy Drop in Virtual Currency’s ...

I used to hear a lot about Bitcoin, especially when it's value skyrocketed and then dropped in 2014. What has happened in the world of Bitcoin since the 2014 shakeup?

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I put all my savings into ETH at $16 in 2017

From rags to riches and back to rags.
I became aware of Bitcoin in 2012, but didn't invest until 2014 @ $440. A few years prior, it had hit $1k, dropped, and much of the public lost interest except for users of Silk Road. I sold all my BTC once it hit $1k for the second time.
The more I read about ETH, the more I was convinced that this shit was wild. I didn't get it at first, but given my background (product engineering) I started to recognize use cases that Ethereum could take on: Debt vehicles owned by communities (rather than..JP Morgan). Music platforms owned by users. Ethereum is/was a software engineer's economic API. Prior to Ethereum, we could write apps that fit into real-world government/economies, but now, we could write entire governments and economies -- and we all know the economy is mankind's most influential behavioral system.
Once that clicked, I put all my money into Ethereum. I told my friends and family to invest a bit too. I bought some in February of 2017 and continued to buy until my ether chest became my savings. Once ETH breached $100, I was extremely confident that the world was seeing Ethereum for what I saw (an economic/government-building toolset) -- wow was I wrong.
ETH grew and grew, as we all know, topping out around ~$1400. I vividly remember waking up one morning, checking how much $ my investment was worth -- almost a half million. "I'll sell some once my stake reaches $500k," I said to myself idiotically. The prior night, I had gotten into a debate with a friend (who also invested) who had doubts about how long the asset would increase. I argued that the utility of Ethereum had barely hit the market, he argued that had nothing to do with the rise -- he was right. The rise of price was fueled by people telling friends/family 'I JUST MADE THIS MUCH MONEY YOU HAVE TO INVEST!!!', and had absolutely nothing to do with Ethereum's true value to society.
My friend sold all of his investment around this time. I did not. I watched my investment dwindle from some ~$450k to just a few thousand. During this time, I was funding my business, so I would sell my ETH slowly as the price dropped. My stack of crypto is almost nothing today, but one thing I took away was the value of money.
When my stack had reached nearly half a million, I felt the same as I do today. I felt the same as I did before I earned the money. Nothing in my life changed -- my happiness was exactly the same, except for the fact that I didn't have any stress around money. What made me happy was using my money for good causes - I donated a decent amount to ocean relief funds and used my money to build a business which made people happy via convenience.
I'm sharing this because I don't know how many other people have made half a million dollars in under a year (after being broke), then lost it all, but I'm sure it's not common. This experience taught me the value of money and its limits to happiness contributions. That said -- when you're under the poverty line, the personal value of money is way higher. It's like a maslow's hierarchy of needs situation -- once you've satisfied your basic financial needs, your increase in happiness is fueled by further endeavors outside of 'earning money'.
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Meet Brock Pierce, the Presidential Candidate With Ties to Pedophiles Who Wants to End Human Trafficking

thedailybeast.com | Sep. 20, 2020.
The “Mighty Ducks” actor is running for president. He clears the air (sort of) to Tarpley Hitt about his ties to Jeffrey Epstein and more.
In the trailer for First Kid, the forgettable 1996 comedy about a Secret Service agent assigned to protect the president’s son, the title character, played by a teenage Brock Pierce, describes himself as “definitely the most powerful kid in the universe.” Now, the former child star is running to be the most powerful man in the world, as an Independent candidate for President of the United States.
Before First Kid, the Minnesota-born actor secured roles in a series of PG-rated comedies, playing a young Emilio Estevez in The Mighty Ducks, before graduating to smaller parts in movies like Problem Child 3: Junior in Love. When his screen time shrunk, Pierce retired from acting for a real executive role: co-founding the video production start-up Digital Entertainment Network (DEN) alongside businessman Marc Collins-Rector. At age 17, Pierce served as its vice president, taking in a base salary of $250,000.
DEN became “the poster child for dot-com excesses,” raising more than $60 million in seed investments and plotting a $75 million IPO. But it turned into a shorthand for something else when, in October of 1999, the three co-founders suddenly resigned. That month, a New Jersey man filed a lawsuit alleging Collins-Rector had molested him for three years beginning when he was 13 years old. The following summer, three teens filed a sexual-abuse lawsuit against Pierce, Collins-Rector, and their third co-founder, Chad Shackley. The plaintiffs later dropped their case against Pierce (he made a payment of $21,600 to one of their lawyers) and Shackley. But after a federal grand jury indicted Collins-Rector on criminal charges in 2000, the DEN founders left the country. When Interpol arrested them in 2002, they said they had confiscated “guns, machetes, and child pornography” from the trio’s beach villa in Spain.
While abroad, Pierce had pivoted to a new venture: Internet Gaming Entertainment, which sold virtual accessories in multiplayer online role-playing games to those desperate to pay, as one Wired reporter put it, “as much as $1,800 for an eight-piece suit of Skyshatter chain mail” rather than earn it in the games themselves. In 2005, a 25-year-old Pierce hired then-Goldman Sachs banker Steve Bannon—just before he would co-found Breitbart News. Two years later, after a World of Warcraft player sued the company for “diminishing” the fun of the game, Steve Bannon replaced Pierce as CEO.
Collins-Rector eventually pleaded guilty to eight charges of child enticement and registered as a sex offender. In the years that followed, Pierce waded into the gonzo economy of cryptocurrencies, where he overlapped more than once with Jeffrey Epstein, and counseled him on crypto. In that world, he founded Tether, a cryptocurrency that bills itself as a “stablecoin,” because its value is allegedly tied to the U.S. dollar, and the blockchain software company Block.one. Like his earlier businesses, Pierce’s crypto projects see-sawed between massive investments and curious deals. When Block.one announced a smart contract software called EOS.IO, the company raised $4 billion almost overnight, setting an all-time record before the product even launched. The Securities and Exchange Commission later fined the company $24 million for violating federal securities law. After John Oliver mocked the ordeal, calling Pierce a “sleepy, creepy cowboy,” Block.one fired him. Tether, meanwhile, is currently under investigation by the New York Attorney General for possible fraud.
On July 4, Pierce announced his candidacy for president. His campaign surrogates include a former Cambridge Analytica director and the singer Akon, who recently doubled down on developing an anonymously funded, $6 billion “Wakanda-like” metropolis in Senegal called Akon City. Pierce claims to be bipartisan, and from the 11 paragraphs on the “Policy” section of his website it can be hard to determine where he falls on the political spectrum. He supports legalizing marijuana and abolishing private prisons, but avoids the phrase “climate change.” He wants to end “human trafficking.” His proposal to end police brutality: body cams.
His political contributions tell a more one-sided story. Pierce’s sole Democratic contribution went to the short-lived congressional run of crypto candidate Brian Forde. The rest went to Republican campaigns like Marco Rubio, Rick Perry, John McCain, and the National Right to Life Political Action Committee. Last year alone, Pierce gave over $44,000 to the Republican National Committee and more than $55,000 to Trump’s re-election fund.
Pierce spoke to The Daily Beast from his tour bus and again over email. Those conversations have been combined and edited for clarity.
You’re announcing your presidential candidacy somewhat late, and historically, third-party candidates haven’t had the best luck with the executive office. If you don’t have a strong path to the White House, what do you want out of the race?
I announced on July 4, which I think is quite an auspicious date for an Independent candidate, hoping to bring independence to this country. There’s a lot of things that I can do. One is: I’m 39 years old. I turn 40 in November. So I’ve got time on my side. Whatever happens in this election cycle, I’m laying the groundwork for the future. The overall mission is to create a third major party—not another third party—a third major party in this country. I think that is what America needs most. George Washington in his closing address warned us about the threat of political parties. John Adams and the other founding fathers—their fear for our future was two political parties becoming dominant. And look at where we are. We were warned.
I believe, having studied systems, any time you have a system of two, what happens is those two things come together, like magnets. They come into collision, or they become polarized and become completely divided. I think we need to rise above partisan politics and find a path forward together. As Albert Einstein is quoted—I’m not sure the line came from him, but he’s quoted in many places—he said that the definition of insanity is making the same mistake or doing the same thing over and over and over again, expecting a different result. [Ed. note: Einstein never said this.] It feels like that’s what our election cycle is like. Half the country feels like they won, half the country feels like they lost, at least if they voted or participated.
Obviously, there’s another late-comer to the presidential race, and that’s Kanye West. He’s received a lot of flak for his candidacy, as he’s openly admitted to trying to siphon votes away from Joe Biden to ensure a Trump victory. Is that something you’re hoping to avoid or is that what you’re going for as well?
Oh no. This is a very serious campaign. Our campaign is very serious. You’ll notice I don’t say anything negative about either of the two major political candidates, because I think that’s one of the problems with our political system, instead of people getting on stage, talking about their visionary ideas, inspiring people, informing and educating, talking about problems, mentioning problems, talking about solutions, constructive criticism. That’s why I refuse to run a negative campaign. I am definitely not a spoiler. I’m into data, right? I’m a technologist. I’ve got digital DNA. So does most of our campaign team. We’ve got our finger on the pulse.
Most of my major Democratic contacts are really happy to see that we’re running in a red state like Wyoming. Kanye West’s home state is Wyoming. He’s not on the ballot in Wyoming I could say, in part, because he didn’t have Akon on his team. But I could also say that he probably didn’t want to be on the ballot in Wyoming because it’s a red state. He doesn’t want to take additional points in a state where he’s only running against Trump. But we’re on the ballot in Wyoming, and since we’re on the ballot in Wyoming I think it’s safe—more than safe, I think it’s evident—that we are not here to run as a spoiler for the benefit of Donald Trump.
In running for president, you’ve opened yourself up to be scrutinized from every angle going back to the beginning of your career. I wanted to ask you about your time at the Digital Entertainment Network. Can you tell me a little bit about how you started there? You became a vice president as a teenager. What were your qualifications and what was your job exactly?
Well, I was the co-founder. A lot of it was my idea. I had an idea that people would use the internet to watch videos, and we create content for the internet. The idea was basically YouTube and Hulu and Netflix. Anyone that was around in the ‘90s and has been around digital media since then, they all credit us as the creators of basically those ideas. I was just getting a message from the creator of The Vandals, the punk rock band, right before you called. He’s like, “Brock, looks like we’re going to get the Guinness Book of World Records for having created the first streaming television show.”
We did a lot of that stuff. We had 30 television shows. We had the top most prestigious institutions in the world as investors. The biggest names. High-net-worth investors like Terry Semel, who’s chairman and CEO of Warner Brothers, and became the CEO of Yahoo. I did all sorts of things. I helped sell $150,000 worth of advertising contracts to the CEOs of Pepsi and everything else. I was the face of the company, meeting all the major banks and everything else, selling the vision of what the future was.
You moved in with Marc Collins-Rector and Chad Shackley at a mansion in Encino. Was that the headquarters of the business?
All start-ups, they normally start out in your home. Because it’s just you. The company was first started out of Marc’s house, and it was probably there for the first two or three months, before the company got an office. That’s, like, how it is for all start-ups.
were later a co-defendant in the L.A. County case filed against Marc Collins-Rector for plying minors with alcohol and drugs, in order to facilitate sexual abuse. You were dropped from the case, but you settled with one of the men for $21,600. Can you explain that?
Okay, well, first of all, that’s not accurate. Two of the plaintiffs in that case asked me if I would be a plaintiff. Because I refused to be a part of the lawsuit, they chose to include me to discredit me, to make their case stronger. They also went and offered 50 percent of what they got to the house management—they went around and offered money to anyone to participate in this. They needed people to corroborate their story. Eventually, because I refused to participate in the lawsuit, they named me. Subsequently, all three of the plaintiffs apologized to me, in front of audiences, in front of many people, saying Brock never did anything. They dismissed their cases.
Remember, this is a civil thing. I’ve never been charged with a crime in my life. And the last plaintiff to have his case dismissed, he contacted his lawyer and said, “Dismiss this case against Brock. Brock never did anything. I just apologized. Dismiss his case.” And the lawyer said, “No. I won’t dismiss this case, I have all these out-of-pocket expenses, I refuse to file the paperwork unless you give me my out-of-pocket expenses.” And so the lawyer, I guess, had $21,000 in bills. So I paid his lawyer $21,000—not him, it was not a settlement. That was a payment to his lawyer for his out-of-pocket expenses. Out-of-pocket expenses so that he would file the paperwork to dismiss the case.
You’ve said the cases were unfounded, and the plaintiffs eventually apologized. But your boss, Marc Collins-Rector later pleaded guilty to eight charges of child enticement and registered as a sex offender. Were you aware of his behavior? How do you square the fact that later allegations proved to be true, but these ones were not?
Well, remember: I was 16 and 17 years old at the time? So, no. I don’t think Marc is the man they made him out to be. But Marc is not a person I would associate with today, and someone I haven’t associated with in a very long time. I was 16 and 17. I chose the wrong business partner. You live and you learn.
You’ve pointed out that you were underage when most of these allegations were said to take place. Did you ever feel like you were coerced or in over your head while working at DEN?
I mean, I was working 18 hours a day, doing things I’d never done before. It was business school. But I definitely learned a lot in building that company. We raised $88 million. We filed our [form] S-1 to go public. We were the hottest start-up in Los Angeles.
In 2000, you left the country with Marc Collins-Rector. Why did you leave? How did you spend those two years abroad?
I moved to Spain in 1999 for personal reasons. I spent those two years in Europe working on developing my businesses.
Interpol found you in 2002. The house where you were staying reportedly contained guns, machetes, and child pornography. Whose guns and child porn were those? Were you aware they were in the house, and how did those get there?
My lawyers have addressed this in 32 pages of documentation showing a complete absence of wrongdoing. Please refer to my webpage for more information.
[Ed. Note: The webpage does not mention guns, machetes, or child pornography. It does state:“It is true that when the local police arrested Collins-Rector in Spain in 2002 on an international warrant, Mr. Pierce was also taken into custody, but so was everyone at Collins-Rector’s house in Spain; and it is equally clear that Brock was promptly released, and no charges of any kind were ever filed against Brock concerning this matter.”]
What do you make of the allegations against Bryan Singer? [Ed. Note: Bryan Singer, a close friend of Collins-Rector, invested at least $50,000 in DEN. In an Atlantic article outlining Singer’s history of alleged sexual assault and statutory rape, one source claimed that at age 15, Collins-Rector abused him and introduced him to Singer, who then assaulted him in the DEN headquarters.]
I am aware of them and I support of all victims of sexual assault. I will let America’s justice system decide on Singer’s outcome.
In 2011, you spoke at the Mindshift conference supported by Jeffrey Epstein. At that point, he had already been convicted of soliciting prostitution from a minor. Why did you agree to speak?
I had never heard of Jeffrey Epstein. His name was not on the website. I was asked to speak at a conference alongside Nobel Prize winners. It was not a cryptocurrency conference, it was filled with Nobel Prize winners. I was asked to speak alongside Nobel Prize winners on the future of money. I speak at conferences historically, two to three times a week. I was like, “Nobel Prize winners? Sounds great. I’ll happily talk about the future of money with them.” I had no idea who Jeffrey Epstein was. His name was not listed anywhere on the website. Had I known what I know now? I clearly would have never spoken there. But I spoke at a conference that he cosponsored.
What’s your connection to the Clinton Global Initiative? Did you hear about it through Jeffrey Epstein?
I joined the Clinton Global Initiative as a philanthropist in 2006 and was a member for one year. My involvement with the Initiative had no connection to Jeffrey Epstein whatsoever.
You’ve launched your campaign in Minnesota, where George Floyd was killed by a police officer. How do you feel about the civil uprising against police brutality?
I’m from Minnesota. Born and raised. We just had a press conference there, announcing that we’re on the ballot. Former U.S. Senator Dean Barkley was there. So that tells you, when former U.S. Senators are endorsing the candidate, right?
[Ed. note: Barkley was never elected to the United States Senate. In November of 2002, he was appointed by then Minnesota Governor Jesse Venture to fill the seat after Sen. Paul Wellstone died in a plane crash. Barkley’s term ended on Jan. 3, 2003—two months later.]
Yes, George Floyd was murdered in Minneapolis. My vice-presidential running mate Karla Ballard and I, on our last trip to Minnesota together, went to visit the George Floyd Memorial. I believe in law and order. I believe that law and order is foundational to any functioning society. But there is no doubt in my mind that we need reform. These types of events—this is not an isolated incident. This has happened many times before. It’s time for change. We have a lot of detail around policy on this issue that we will be publishing next week. Not just high-level what we think, not just a summary, but detailed policy.
You said that you support “law and order.” What does that mean?
“Law and order” means creating a fair and just legal system where our number one priority is protecting the inalienable rights of “Life, Liberty and the pursuit of Happiness” for all people. This means reforming how our police intervene in emergency situations, abolishing private prisons that incentivize mass incarceration, and creating new educational and economic opportunities for our most vulnerable communities. I am dedicated to preventing crime by eliminating the socioeconomic conditions that encourage it.
I support accountability and transparency in government and law enforcement. Some of the key policies I support are requiring body-cams on all law enforcement officers who engage with the public, curtailing the 1033 program that provides local law enforcement agencies with access to military equipment, and abolishing private prisons. Rather than simply defund the police, my administration will take a holistic approach to heal and unite America by ending mass incarceration, police brutality, and racial injustice.
Did you attend any Black Lives Matter protests?
I support all movements aimed at ending racial injustice and inequality. I​ have not attended any Black Lives Matter protests.​ My running-mate, Karla Ballard, attended the March on Washington in support of racial justice and equality.
Your platform doesn’t mention the words “climate change.” Is there a reason for that?
I’m not sure what you mean. Our policy platform specifically references human-caused climate change and we have a plan to restabilize the climate, address environmental degradation, and ensure environmental sustainability.
[Ed. Note: As of writing the Pierce campaign’s policy platform does not specifically reference human-caused climate change.]
You’ve recently brought on Akon as a campaign surrogate. How did that happen? Tell me about that.
Akon and I have been friends for quite some time. I was one of the guys that taught him about Bitcoin. I helped make some videogames for him, I think in 2012. We were talking about Bitcoin, teaching him the ropes, back in 2013. And in 2014, we were both speaking at the Milken Global Conference, and I encouraged him to talk about how Bitcoin, Africa, changed the world. He became the biggest celebrity in the world, talking about Bitcoin at the time. I’m an adviser to his Akoin project, very interested in the work that he’s doing to build a city in Africa.
I think we need a government that’s of, for, and by the people. Akon has huge political aspirations. He obviously was a hugely successful artist. But he also discovered artists like Lady Gaga. So not only is he, himself, a great artist, but he’s also a great identifier and builder of other artists. And he’s been a great businessman, philanthropist. He’s pushing the limits of what can be done. We’re like-minded individuals in that regard. I think he’ll be running for political office one day, because he sees what I see: that we need real change, and we need a government that is of, for, and by the people.
You mentioned that you’re an adviser on Akoin. Do you have any financial investments in Akoin or Akon City?
I don’t believe so. I’d have to check. I have so much stuff. But I don’t believe that I have any economic interests in his stuff. I’d have to verify that. We’ll get back to you. I don’t believe that I have any economic interests. My interest is in helping him. He’s a visionary with big ideas that wants to help things in the world. If I can be of assistance in helping him make the world a better place, I’m all for it. I’m not motivated by money. I’m not running for office because I’m motivated by power. I’m running for office because I’m deeply, deeply concerned about our collective future.
You’ve said you’re running on a pro-technology platform. One week into your campaign last month, a New York appeals court approved the state Attorney General’s attempt to investigate the stablecoin Tether for potentially fraudulent activity. Do you think this will impact your ability to sell people on your tech entrepreneurship?
No, I think my role in Tether is as awesome as it gets. It was my idea. I put it together. But I’ve had no involvement in the company since 2015. I gave all of my equity to the other shareholders. I’ve had zero involvement in the company for almost six years. It was just my idea. I put the initial team together. But I think Tether is one of the most important innovations in the world, certainly. The idea is, I digitized the U.S. dollar. I used technology to digitize currency—existing currency. The U.S. dollar in particular. It’s doing $10 trillion a year. Ten trillion dollars a year of transactional volume. It’s probably the most important innovation in currency since the advent of fiat money. The people that took on the business and ran the business in years to come, they’ve done things I’m not proud of. I’m not sure they’ve done anything criminal. But they certainly did things differently than I would do. But it’s like, you have kids, they turn 18, they go out into the world, and sometimes you’re proud of the things they do, and sometimes you shake your head and go, “Ugh, why did you do that?” I have zero concerns as it relates to me personally. I wish they made better decisions.
What do you think the investigation will find?
I have no idea. The problem that was raised is that there was a $5 million loan between two entities and whether or not they had the right to do that, did they disclose it correctly. There’s been no accusations of, like, embezzlement or anything that bad.
[Ed. Note: The Attorney General’s press release on the investigation reads: “Our investigation has determined that the operators of the ‘Bitfinex’ trading platform, who also control the ‘tether’ virtual currency, have engaged in a cover-up to hide the apparent loss of $850 million dollars of co-mingled client and corporate funds.”]
But there’s been some disclosure things, that is the issue. No one is making any outrageous claims that these are people that have done a bunch of bad—well, on the internet, the media has said that the people behind the business may have been manipulating the price of Bitcoin, but I don’t think that has anything to do with the New York investigation. Again, I’m so not involved, and so not at risk, that I’m not even up to speed on the details.
[Ed note: A representative of the New York State Attorney General told Forbes that he “cannot confirm or deny that the investigation” includes Pierce.]
We’ve recently witnessed the rise of QAnon, the conspiracy theory that Hollywood is an evil cabal of Satanic pedophiles and Trump is the person waging war on them. You mentioned human trafficking, which has become a cause for them. What are your thoughts on that?
I’ve watched some of the content. I think it’s an interesting phenomenon. I’m an internet person, so Anonymous is obviously an organization that has been doing interesting stuff. It’s interesting. I don’t have a big—conspiracy theory stuff is—I guess I have a question for you: What do you think of all of it, since you’re the expert?
You know, I think it’s not true, but I’m not running for president. I do wonder what this politician [Georgia congressional candidate Marjorie Taylor Greene], who’s just won her primary, is going to do on day one, once she finds out there’s no satanic cabal room.
Wait, someone was running for office and won on a QAnon platform, saying that Hollywood did—say what? You’re the expert here.
She won a primary. But I want to push on if we only have a few minutes. In 2006, your gaming company IGE brought on Steve Bannon as an investor. Goldman later bought out most of your stock. Bannon eventually replaced you as CEO of Affinity. You’ve described him as your “right-hand man for, like, seven years.” How well did you know Bannon during that time?
Yes, so this is in my mid-twenties. He wasn’t an investor. He worked for me. He was my banker. He worked for me for three years as my yield guide. And then he was my CEO running the company for another four years. So I haven’t worked with Steve for a decade or so. We worked in videogame stuff and banking. He was at Goldman Sachs. He was not in the political area at the time. But he was a pretty successful banker. He set up Goldman Sachs Los Angeles. So for me, I’d say he did a pretty good job.
During your business relationship, Steve Bannon founded Breitbart News, which has pretty consistently published racist material. How do you feel about Breitbart?
I had no involvement with Breitbart News. As for how I feel about such material, I’m not pleased by any form of hate-mongering. I strongly support the equality of all Americans.
Did you have qualms about Bannon’s role in the 2016 election?
Bannon’s role in the Trump campaign got me to pay closer attention to what he was doing but that’s about it. Whenever you find out that one of your former employees has taken on a role like that, you pay attention.
Bannon served on the board of Cambridge Analytica. A staffer on your campaign, Brittany Kaiser, also served as a business director for them. What are your thoughts on their use of illicitly-obtained Facebook data for campaign promotional material?
Yes, so this will be the last question I can answer because I’ve got to be off for this 5:00 pm. But Brittany Kaiser is a friend of mine. She was the whistleblower of Cambridge Analytica. She came to me and said, “What do I do?” And I said, “Tell the truth. The truth will set you free.”
[Ed. Note: Investigations in Cambridge Analytica took place as early as Nov. 2017, when a U.K. reporter at Channel 4 News recorded their CEO boasting about using “beautiful Ukranian girls” and offers of bribes to discredit political officials. The first whistleblower was Christopher Wylie, who disclosed a cache of documents to The Guardian, published on Mar. 17, 2018. Kaiser’s confession ran five days later, after the scandal made national news. Her association with Cambridge Analytica is not mentioned anywhere on Pierce’s campaign website.]
So I’m glad that people—I’m a supporter of whistleblowers, people that see injustice in the world and something not right happening, and who put themselves in harm’s way to stand up for what they believe in. So I stand up for Brittany Kaiser.
Who do you think [anonymous inventor of Bitcoin] Satoshi Nakamoto is?
We all are Satoshi Nakamoto.
You got married at Burning Man. Have you been attending virtual Burning Man?
I’m running a presidential campaign. So, while I was there in spirit, unfortunately my schedule did not permit me to attend.
OP note: please refer to the original article for reference links within text (as I've not added them here!)
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Forecast: Why the price of bitcoin will be rising until the end of the year, and what will help the cryptocurrency rise in price to six-digit numbers

Forecast: Why the price of bitcoin will be rising until the end of the year, and what will help the cryptocurrency rise in price to six-digit numbers

https://preview.redd.it/6tayikn4coq51.jpg?width=1920&format=pjpg&auto=webp&s=8b4b916348b682f6a04698a86f049b3fc6c39be6

BTC price will be rising until the end of the year

Analyst Willie Wu thinks. He draws attention to the fact that the number of new participants in the bitcoin network has grown significantly since mid-September, and the cryptocurrency price has not reacted to this.
In the last year and a half, the price of bitcoin in all cases has increased following an increase in the characteristic. Therefore, BTC is currently undervalued, the analyst points out.
He also notes that in September, market participants accumulated coins while the price moved sideways. This is indicated by the On Balance Volume indicator. Another important metric of the beginning of growth is the ribbons of complexity. The indicator has left the “compression” zone, which previously always indicated an increase in the value of bitcoin.
“Overall: bullish the next 3 weeks, also bullish over next 3 months,” concludes Willie Wu.

Bitcoin will rise in price to six-digit number

If one condition is met, said Michael van de Poppe, an analyst at the Amsterdam Stock Exchange.
He notes that previous bullish runs of the BTC price took place amid a falling dollar index. This was the case in 2014 and 2017. Since March this year, the index has also significantly lost in value, which contributed to the rise in the price of bitcoin to $12,
400.
The price of BTC may temporarily sink due to the second wave of coronavirus, but in the long term, the cryptocurrency will win as a safe-haven asset.
“Of course, a potential drop by 25–35% could occur in the first stage of the crisis just like in March. But Bitcoin and gold would benefit significantly afterwards as safe havens against a weakening dollar, which is precisely what happened in December 2017 as BTC hit its all-time high of nearly $20,000,” writes van de Poppe.
If the weakness of the dollar persists in 2021, then bitcoin may rise in price to six-digit numbers, the analyst said.

New US stimulus measures will strengthen bitcoin

The BTC rate will continue to rise this week amid falling dollar index, Cointelegraph analyst William Suberg writes.
The index declines for the fourth day in a row as negotiations continue in Washington on new stimulus measures due to the coronavirus epidemic. The amount of support can reach $2.5 trillion. US Treasury Secretary Stephen Mnuchin confirmed that the measures will include a new round of payments in the amount of $1,200 for a number of categories of US citizens.
Past payments took place this spring during the first wave of coronavirus. Then the crypto-exchanges recorded a sharp jump in deposits for exactly the amount of incentive checks.
Trader Ton Weiss recommends buying bitcoin as he believes the authorities will continue to issue dollars.
“No matter who wins they will keep printing, so buy bitcoin,” Weiss wrote during a debate between US presidential candidates Donald Trump and Joe Biden.
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The next XVG? Microcap 100x potential actually supported by fundamentals!

What’s up team? I have a hot one for you. XVG returned 12 million percent in 2017 and this one reminds me a lot of it. Here’s why:
Mimblewimble is like Blu-Ray compared to CD-ROM in terms of its ability to compress data on a blockchain. The current BTC chain is 277gb and its capacity is limited because every time you spend a coin, each node needs to validate its history back to when it was mined (this is how double spending is prevented). Mimblewimble is different - all transactions in a block are aggregated and netted out in one giant CoinJoin, and only the current spending needs to be verified. This means that dramatically more transactions can fit into a smaller space, increasing throughput and lowering fees while still retaining the full proof of work game theory of Bitcoin. These blockchains are small enough to run a full node on a cheap smartphone, which enhances the decentralization and censorship resistance of the network.
The biggest benefit, though, is that all transactions are private - the blockchain doesn’t reveal amounts or addresses except to the actual wallet owner. Unlike earlier decoy-based approaches that bloat the chain and can still be data mined (XMR), Mimblewimble leaves no trace in the blockchain, instead storing only the present state of coin ownership.
The first two Mimblewimble coins, Grin and Beam, launched to great fanfare in 2019, quickly reaching over $100m in market cap (since settled down to $22m and $26m respectively). They are good projects but grin has infinite supply and huge never-decreasing emission, and Beam is a corporate moneygrab whose founding investors are counting on you buying for their ROI.
ZEC is valued at $568m today, despite the facts that only 1% of transactions are actually shielded, it has a trusted setup, and generating a confidential transaction takes ~60 seconds on a powerful PC. XMR is a great project but it’s valued at $1.2b (so no 100x) and it uses CryptoNote, which is 2014 tech that relies on a decoy-based approach that could be vulnerable to more powerful computers in the future. Mimblewimble is just a better way to approach privacy because there is simply no data recorded in the blockchain for companies to surveil.
Privacy is not just for darknet markets, porn, money launderers and terrorists. In many countries it’s dangerous to be wealthy, and there are all kinds of problems with having your spending data be out there publicly and permanently for all to see. Namely, companies like Amazon are patenting approaches to identify people with their crypto addresses, “for law enforcement” but also so that, just like credit cards, your spending data can be used to target ads. (A) Coinbase is selling user data to the DEA, IRS, FBI, Secret Service, and who knows who else? (B) What about insurance companies raising your premiums or canceling your policy because they see you buying (legal) cannabis? If your business operates using transparent cryptocurrency, competitors can data mine your customer and supply chain data, and employees can see how much everyone else gets paid. I could go on, but the idea of “I have nothing to hide, so what do I care about privacy?” will increasingly ring hollow as people realize that this money printing will have to be paid by massive tax increases AND that those taxes will be directly debited from their “Central Bank Digital Currency” wallets.
100% privacy for all transactions also eliminates one HUGE problem that people aren’t aware of yet, but they will be: fungibility. Fungibility means that each coin is indistinguishable from any other, just like paper cash. Why is this important? Because of the ever-expanding reach of AML/KYC/KYT (Anti-Money Laundering / Know Your Customer / Know Your Transaction) as regulators cramp down on crypto and banks take over, increasingly coins become “tainted” in various ways. For example, if you withdraw coins to a mixing service like Wasabi or Samourai, you may find your account blocked. (C) The next obvious step is that if you receive coins that these chainalysis services don’t like for whatever reason, you will be completely innocent yet forced to prove that you didn’t know that the coins you bought were up to no good in a past life. 3 days ago, $100k of USDC was frozen. (D) Even smaller coins like LTC now have this problem, because “Chinese Drug Kingpins” used them. (E) I believe that censorable money that can be blocked/frozen isn’t really “your money”.
Epic Cash is a 100% volunteer community project (like XVG and XMR) that had a fair launch in September last year with no ICO and no premine. There are very few projects like this, and it’s a key ingredient in Verge’s success (still at $110m market cap today despite being down 97% since the bubble peak) and why it’s still around. It has a small but super passionate community of “Freemen” who are united by a belief in the sound money economics of Bitcoin Standard emission (21m supply limit and ever-decreasing inflation) and the importance of privacy.
I am super bullish on this coin for the following reasons:
Because it doesn’t have a huge marketing budget in a sea of VC-funded shitcoins, it is as-yet undiscovered, which is why it’s so cheap. There are only 4 Mimblewimble-based currencies on the market: MWC at $162m, BEAM at $26m, GRIN at $22m, and EPIC at $0.4m. This is not financial advice and as always, do your own research, but I’ve been buying this gem for months and will continue to.
This one ticks all the boxes for me, the only real problem is that it’s hard to buy much without causing a huge green candle. Alt season is coming, and coins like this are how your neighbor Chad got his Lambo back in 2017. For 2021, McLaren is a better choice and be sure to pay cash so that it doesn’t get repossessed like Chad!
  1. A https://www.vice.com/en_us/article/d35eax/amazon-bitcoin-patent-data-stream-identify-cryptocurrency-for-law-enforcement-government
  2. B https://decrypt.co/31461/coinbase-wants-to-identify-bitcoin-users-for-dea-irs
  3. C https://www.coindesk.com/binance-blockade-of-wasabi-wallet-could-point-to-a-crypto-crack-up
  4. D https://cointelegraph.com/news/centre-freezes-ethereum-address-holding-100k-usdc
  5. E https://www.coindesk.com/us-treasury-blacklists-bitcoin-litecoin-addresses-of-chinese-drug-kingpins
  6. F https://www.youtube.com/channel/UCWkTxl5Z6DNN0ASMRxSKV5g
  7. G http://epic.tech/whitepaper
  8. H https://medium.com/epic-cash/epic-cash-on-uniswap-22447904d375
  9. I https://epic.tech/wp-content/uploads/2019/09/figure-3.1.jpg
Links:
submitted by pinchegringo to CryptoMoonShots [link] [comments]

Madbyte News - October 1, 2020


What was Bitcoin's value over the last several years on October 1st? In 2012 it was super low at $11 USD, with the first halving only 2 months away. In 2013 it was at $127 and the Cyprus banking crisis hit the financial markets. Also, during 2013 was the first time Bitcoin passed the price of gold for a brief moment.
In 2014 it was valued at $387. By the end of the year it was given the title by The Guardian as the worst investment of the year. Mt.Gox exchange had failed and Ethereum did its ICO (Initial Coin Offering) and the silk road website was taken down. Tim Draper bought a good chunk of Bitcoins at auction and was predicting it to go to $10,000.
In 2015 it was lower at $238 but in 2016 the price was at $614 with the second halving having happened. During 2017 it reached a lofty $4404. 2017 also was when ICOs became popular with a few blockchain projects raising over $200 million. In 2018 Bitcoin was at $6601 and the ICO frenzy died. During 2019 it was $8334 and some exchanges continued to get hacked. Bakt opens futures trading and bitcoiners are talking about the third halving in 2020. And so today bitcoin is valued at about $10,600.
Most of those years saw massive changes up and down in value. For example, in 2013, there was a massive rise of 10,250% from $12 to $961 but in 2014 it dropped 52%. If you look at Bitcoin valuations from the October 1st lens it seems like a great time to buy especially after a halving.
We continue to see Bitcoin as the number one crypto for a portfolio even though almost every week we see another new cryptocurrency pop up. Some of them even hit the top 10 on Coinmarketcap very quickly. For example, UNI (Uniswap) is up over 2700% on Binance since it was listed on Sept.17, 2020. But history shows that most altcoins over the long term are not very successful.
Be careful of FOMO but happy investing, From the Madbyte Team.
-- In summary, Bitcoin, on October 1st was: 2020 - $10600 2019 - $8334 2018 - $6601 2017 - $4404 2016 - $614 2015 - $238 2014 - $387 2013 - $127 2012 - $11
submitted by cryptocronix to madbyte [link] [comments]

[WTS] $10 Gold Liberty’s, $2.50 Liberty Quarter Eagle, 9.46 troy oz Canadian Junk @ $1.85 over spot per oz, silver, 1 oz rounds, ASE, Maples, Krugerrand, Philharmonic, 1886 S $1, 14k chains, Alaska Gold Nugget

Proof: https://imgur.com/a/Cd4y1ZH
$10 Liberty Gold Eagle, 1894, 1901, 0.48375 oz AGW - $1030 Each LOW PREMIUM
1907 - $2.50 U.S Liberty Gold Quarter Eagle - $365
9.46 Troy Oz ASW, Canadian Junk Lot, $5.90 FV - 80% Dimes, $9.5 FV - 80% Quarters, 2 - 50% quarters and 1 - 50% Dime, $1 over spot per ounce - $255.42
1962 Canada $1 Silver, 0.60 TROY OZ ASW - $16
1987, 1992, 1993 American 1 oz Silver Eagles, Key Dates - $30 Each SOLD
2014, 2009 - 1 oz American Silver Eagles - $29 Each SOLD
2 - 2020, 2016 1 oz Canada Silver Maple Leafs - $28 Each SOLD
2020 1 oz Austria Silver Philharmonic - $27.50 SOLD
2020 South Africa 1 Oz Silver Krugerrand - $27.50 SOLD
1 oz. Highland Mint Silver Round - Seated Liberty Design .999 Fine - $28.75
2 - 1 oz Incuse Indian Silver Rounds 1929 - $28.75
Liberty Mint – U.S.S. Constitution Honest Value Never Fails 1 oz Silver Coin - $28
Walking Liberty 1 Troy Oz round - Money Metals Exchange - $27 SOLD
Walking Liberty 1/2 Troy Oz round - Money Metals Exchange - $13.15 SOLD
5 - Walking Liberty 1/10 Troy Oz Rounds - Money Metals Exchange - $3 Each SOLD
Apollo 11 50th Anniversary 2019 Proof Silver Dollar - 1 oz - $50
1 oz 2013 Canadian Pronghorn Antelope Silver Coin - 1M Minted - Low - $30
Gold Nugget, 1.37 grams, 22-24K Purity, ElDorado Gold Mine, Fairbanks Alaska - $120
1886 S Morgan Silver $1 Dollar Key Date - $50 SOLD
All jewelry is in great condition, no kinks, tangles, etc unless stated otherwise
14K Chain - 30”Inches Ling - 17.94 grams - $770
14K Bracelet - 8-8.5” Inches Long - 4.47 grams - $195
14K Italy Chain/Necklace - 24”Inches Long - 5.03 grams - $215
Willing to work with you, I will consider all trades for any gold or silver
Payment
I accept PayPal Friends and Family, Zelle, Venmo, Cash App, Zelle, Google pay
Bitcoin and other crypto currencies now accepted
Shipping
0-4 oz - $4 5-8 oz - $4.25 9-12 oz - $6 Priority shipping =$8, Stamped envelope - $1, medium flat rate box = $15
•Signature Confirmation $3 (Optional)
•Insurance is also available at buyers expense.
•I pack safely and discretely.
•Prices are subject to change at any moments notice.
•Message me if you have any questions.
•All packages will be dropped off on Tuesday or Wednesday.
•Once I drop the package at the post office I’m not responsible for USPS mistakes or losses
submitted by Redditaccount1543354 to Pmsforsale [link] [comments]

3 months later. How the profitability of mining changed after halving

3 months later. How the profitability of mining changed after halving

3 months later. How the profitability of mining changed after halving
On May 11, the size of the Bitcoin mining reward fell by half. The next time it will be in 2024. What devices will be profitable by that time, and what to hope for owners of obsolete equipment.
In May 2020, a halving took place on the bitcoin network. The cryptocurrency mining reward has decreased from 12.5 to 6.25 BTC. This is a long-awaited event, which, according to the hopes of the crypto community, should lead to a strong increase in the value of the coin. For example, Anthony Pompliano, co-founder of investment company Morgan Creek Digital, predicted that the rate would rise to $100,000 by the end of 2021, primarily due to lower mining rewards.
So far, the bitcoin price hasn’t responded to the halving as much as expected. In mid-May, at the time of the reduction in the mining reward, the BTC rate was around $9,000. To date, the cryptocurrency has risen in price by 27%. This year’s high was set yesterday, August 18, at $12,400.
The hashrate of the cryptocurrency network showed a different dynamics. Its value fell immediately after the halving from 137.5 to 87 EH/s, according to bitinfocharts.com. Since mining bitcoins has become less profitable, some of the miners probably turned off their equipment. They could switch to mining other coins or completely abandon this activity due to its unprofitability.
Later, when the BTC rate began to rise, the amount of computing power in the coin’s network also began to increase. So, from late May to mid-August, the cryptocurrency hash rate increased from 87 to 130 EH/s. But over the past three days, the figure has dropped sharply by 20%, caused by floods in China. Torrential rains in Sichuan province caused power outages that interfered with the operation of mining farms.
Changes in hashrate and mining rewards have affected its difficulty. On May 11, at the time of the halving, this figure was at around 16.1 T. By the current moment, this value has increased to 16.9 T, in July rising to a maximum of 17.3 T.
The decline in the reward for mining cryptocurrency was partially offset by the increase in fees. Until May, a single BTC transfer cost the user an average of 50 cents. By the current moment, commissions have grown more than 10 times, to $5.5.
Mining profitability is now at around 0.114 THash/s. It fell sharply immediately after the halving from 0.16 to 0.08 THash/s. To date, the indicator has grown by 40%. This was due to the rise in BTC prices and higher fees.
Development Director at BitCluster Dmitry Shuvaev said that the profitability of the device for mining BTC s17–73Th/s is now about 8 thousand rubles per month (at an electricity price of 3.5 rubles per kWh). The payback period is about 15 months. Old devices, such as the Antminer S9, are now unprofitable to use, they do not bring profit. But this situation may change if the bitcoin rate rises to $15,000.
“We recommend our customers to buy the new generation S17 or S19 devices. It is these devices that will provide profitability until the next halving. Their break-even point is at $6,000 per bitcoin”, Shuvaev said.
In June, specialists from the research division of the BitMEX exchange announced that in the long term, 2–3 ASIC miner manufacturers will remain in the industry. Canaan’s Avalon devices were the first to hit the market in 2014. Three years later, in 2017, Bitmain took 75% of the market.
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submitted by Smart_Smell to Robopay [link] [comments]

Crypto / Bitcoin / Mentorship ! -get professional advice and assistance in this wild west

Why Having a MENTOR in Crypto is Very Important
For the past couple of years I have been sharing the exorbitant costs of the elite cryptocurrency Palm Beach newsletter services with a few other people. But what started off as a simple share of the costs of these publications has actually turned into me being a teacher or counselor in the space to many who are completely new to the world of cryptocurrency.
A bit about me:
As someone who has been buying bitcoin since early 2014 I became the ipso facto ‘crypto expert’ among my friends and new newsletter shares. People came to me with all types of questions which I had taken for granted since I had long ago been through the learning curve required to make me highly proficient at navigating the complex waters of cryptocurrency.
It was at this time that I realized just how difficult crypto currency can be for most people. Many things I took for granted are not actually that simple. I’ve gotten questions all over the board over the years: “how do I buy bitcoin?” - or “How do I send it now that I have it”. “What’s a crypto wallet?” “what are the best exchanges to use?”, “what does ERC-20 mean?” …and on and on and on. I realized that things that I took for granted were actually very real concerns and struggles for people. So I became a teacher of sorts to those who needed help getting their footing established in the wild west of crypto, and instead of being someone who simply shared the costs of pricey publications I ended up being a mentor, an ally, and a friend to many of these people.
Here are a few things I’ve noticed over the years:
Most of the mistakes people make are done early on as they are trying to get set up. There are many traps out there to part you with your money. Fly by night exchanges…or even bogus exchanges, people promising you educational courses that turn out to be worthless drivel and many people online telling you which coins to buy hyping things so much because they want YOU to buy their bags - not to make you rich. I once had a friend google a crypto exchange customer service number. The number wasn’t real but a spoof website in a paid search result which connected her to a scammer who proceeded to steal her $8,000 worth of bitcoin in about 30 seconds. Poof! Gone!
What’s important when you are first new to crypto is to realize that everyone has an agenda and most of the time it’s not a mutually beneficial one. This is the wild wild west! You better have your wits about you, and be quick on the draw - otherwise you’ll blink and suddenly find yourself penniless.
But even good guys have an agenda. I know I do! But mine is more altruistic and designed to be “mutually beneficial”. See, I’m hoping to gain some of your trust to have a conversation so that you’ll allow me to be your ally and mentor in the space - giving me the chance to share both my knowledge and the publications you may already want. Like most value adding things in life it starts with a profit motive; capitalism at its purest. But the best business is also the business which helps solve problems. And that is what I am attempting to do here - to connect with a few people that I can add value and insights to and have your back in the wild wild west of cryptocurrency.
Swimming with Sharks or the Land of Milk and Honey?:
With that said cypto is full of some of the slimiest people on earth. Scammers and frauds in boiler rooms in India or Pakistan or China trying to take advantage of your naiveté. It is what it is. Welcome to crypto. But crypto is also the new land of opportunity- a land where you can stake a claim and strike gold, or watch oil just gushing out of the ground. So, yes it can be a wonderful place too! Some of the best people I know I’ve met through my cryptocurrency connections and projects I have become passionate about. Many of these are freedom loving people acutely aware that many things aren’t right in the world and many things need to be changed. We love profit combined with the ideological purity of what crypto is at its core, and usually find agreement in the fact that crypto offers many solutions to a world begging for a paradigm shift towards more honesty and integrity in a broken world full of corrupt systems and cronyism.
But where do you turn for the advice if you are an outsider looking into this fascinating new world and the possibilities that it presents? Do you go to youtube? Do you run to a computer and start googling bitcoin? Will your smart Uncle Joe be able to help you? Certainly, there is a lot of information you can glean our there on your own if you are industrious and persistent. But these are also shark infested waters, and as I said earlier - nearly everyone has an agenda. Usually, as a newbie in crypto you are the “mark” - or as poker players would say; “the fish” at the table. Everyone will welcome you to grab a seat and offer you a smoke… getting you extremely comfortable, before taking your money leaving you wondering what the hell just happened?!
Are you the Customer or “the mark”?
Sadly, many of the latest and greatest crypto publications have also gone the route of the hustler at the poker table. They get you to empty your pockets to enter into the game - and then later they hold you by your ankles and shake you until anything left comes spilling out onto the ground. It’s a brutal world for sure. How many of you are aware that the moment you sign up for Palm Beach (for one example) the next week or even day they will be hitting you up to sign up for yet another multi-thousand dollar subscription service with them or one of their partners like Bonner and Associates or Legacy Research Group? Don’t believe me? Sign up and find out!
To me this is greed at its highest and most perverse level. They claim to want to “help” you become one of the nouveau rich - and they charge a literally boat load of money for the information to do so. The information is very good even! But then just days later you will find out that your information is “incomplete” - and that what you really need to do is to buy this “other” publication which shows you a more nuanced (and shhhh, also secret formula ) to really getting those profits you crave sooner - only even much bigger profits this time - in another sector - oh by the way this will only cost you another $2,500 or $1,500. Really? Are they looking out for their customers or more interested in bleeding them out like pigs? I’d say clearly the latter.
Time for a more Holistic Approach:
For the reasons above I have committed myself to being a crypto mentor and friend in the space - but as a business. As a bonus to signing up with me as your friend and mentor in the space I’ll share with you the publications. This way you help me cover the costs and I help you get what you want; the pricey information. Only I do better by you - in offering you my hand in expertise and kinship and getting your cost greatly reduced at the same time. It’s a no brainer for you really.
Keep in mind I have ALL the Palm Beach publications you could want; (Palm Beach Confidential, Crypto Income Quarterly (the "Tech Royalty" programs), Palm Beach Trader, Alpha Edge, Palm Beach Quant ) and also the lesser known and unrelated Crypto Vigilante of Dollar Vigilante fame (a very underrated publication imo). And you get someone who understands crypto and the crypto markets at a fairly high level - someone with the 10,000+ hours put into the space since 2014 to make me not only highly proficient - but arguably a distinct “expert” in the field.
If you were going to get the $75 rib-eye - wouldn’t the same steak taste even better at $25 - $50 while also having 3 sides (and fancy drinks) included? Your choice. This is what I’m offering you.
I have a videos showing me in all my splendor (lol) and trying to communicate who I am, and what I can do for you. I am currently offering a few levels of memberships to my mentorship and expertise and the publications and info you want. So why not have a brief talk about it? Drop me a line in direct message here (not in the public thread below) - and I’ll get you over the full monty of details regarding signing up with me and getting immediate access to the publications and my brain. ; )
You can also email me at: [[email protected]](mailto:[email protected])
I’ll even send you that private video of me first so you can decide if I’m the type of person you might want to do business with. I look forward to hearing from you! Drop me that message and please leave a brief note of what exactly you might be interested in. Thanks!
Proverbs 15:22 - Without counsel purposes are disappointed: but in the multitude of counsellors they are established.
submitted by remotelyfun to u/remotelyfun [link] [comments]

Crypto / Bitcoin / Mentorship ! -get professional advice and assistance in this wild west

Why Having a MENTOR in Crypto is Very Important
For the past couple of years I have been sharing the exorbitant costs of the elite cryptocurrency Palm Beach newsletter services with a few other people. But what started off as a simple share of the costs of these publications has actually turned into me being a teacher or counselor in the space to many who are completely new to the world of cryptocurrency.
A bit about me:
As someone who has been buying bitcoin since early 2014 I became the ipso facto ‘crypto expert’ among my friends and new newsletter shares. People came to me with all types of questions which I had taken for granted since I had long ago been through the learning curve required to make me highly proficient at navigating the complex waters of cryptocurrency.
It was at this time that I realized just how difficult crypto currency can be for most people. Many things I took for granted are not actually that simple. I’ve gotten questions all over the board over the years: “how do I buy bitcoin?” - or “How do I send it now that I have it”. “What’s a crypto wallet?” “what are the best exchanges to use?”, “what does ERC-20 mean?” …and on and on and on. I realized that things that I took for granted were actually very real concerns and struggles for people. So I became a teacher of sorts to those who needed help getting their footing established in the wild west of crypto, and instead of being someone who simply shared the costs of pricey publications I ended up being a mentor, an ally, and a friend to many of these people.
Here are a few things I’ve noticed over the years:
Most of the mistakes people make are done early on as they are trying to get set up. There are many traps out there to part you with your money. Fly by night exchanges…or even bogus exchanges, people promising you educational courses that turn out to be worthless drivel and many people online telling you which coins to buy hyping things so much because they want YOU to buy their bags - not to make you rich. I once had a friend google a crypto exchange customer service number. The number wasn’t real but a spoof website in a paid search result which connected her to a scammer who proceeded to steal her $8,000 worth of bitcoin in about 30 seconds. Poof! Gone!
What’s important when you are first new to crypto is to realize that everyone has an agenda and most of the time it’s not a mutually beneficial one. This is the wild wild west! You better have your wits about you, and be quick on the draw - otherwise you’ll blink and suddenly find yourself penniless.
But even good guys have an agenda. I know I do! But mine is more altruistic and designed to be “mutually beneficial”. See, I’m hoping to gain some of your trust to have a conversation so that you’ll allow me to be your ally and mentor in the space - giving me the chance to share both my knowledge and the publications you may already want. Like most value adding things in life it starts with a profit motive; capitalism at its purest. But the best business is also the business which helps solve problems. And that is what I am attempting to do here - to connect with a few people that I can add value and insights to and have your back in the wild wild west of cryptocurrency.
Swimming with Sharks or the Land of Milk and Honey?:
With that said cypto is full of some of the slimiest people on earth. Scammers and frauds in boiler rooms in India or Pakistan or China trying to take advantage of your naiveté. It is what it is. Welcome to crypto. But crypto is also the new land of opportunity- a land where you can stake a claim and strike gold, or watch oil just gushing out of the ground. So, yes it can be a wonderful place too! Some of the best people I know I’ve met through my cryptocurrency connections and projects I have become passionate about. Many of these are freedom loving people acutely aware that many things aren’t right in the world and many things need to be changed. We love profit combined with the ideological purity of what crypto is at its core, and usually find agreement in the fact that crypto offers many solutions to a world begging for a paradigm shift towards more honesty and integrity in a broken world full of corrupt systems and cronyism.
But where do you turn for the advice if you are an outsider looking into this fascinating new world and the possibilities that it presents? Do you go to youtube? Do you run to a computer and start googling bitcoin? Will your smart Uncle Joe be able to help you? Certainly, there is a lot of information you can glean our there on your own if you are industrious and persistent. But these are also shark infested waters, and as I said earlier - nearly everyone has an agenda. Usually, as a newbie in crypto you are the “mark” - or as poker players would say; “the fish” at the table. Everyone will welcome you to grab a seat and offer you a smoke… getting you extremely comfortable, before taking your money leaving you wondering what the hell just happened?!
Are you the Customer or “the mark”?
Sadly, many of the latest and greatest crypto publications have also gone the route of the hustler at the poker table. They get you to empty your pockets to enter into the game - and then later they hold you by your ankles and shake you until anything left comes spilling out onto the ground. It’s a brutal world for sure. How many of you are aware that the moment you sign up for Palm Beach (for one example) the next week or even day they will be hitting you up to sign up for yet another multi-thousand dollar subscription service with them or one of their partners like Bonner and Associates or Legacy Research Group? Don’t believe me? Sign up and find out!
To me this is greed at its highest and most perverse level. They claim to want to “help” you become one of the nouveau rich - and they charge a literally boat load of money for the information to do so. The information is very good even! But then just days later you will find out that your information is “incomplete” - and that what you really need to do is to buy this “other” publication which shows you a more nuanced (and shhhh, also secret formula ) to really getting those profits you crave sooner - only even much bigger profits this time - in another sector - oh by the way this will only cost you another $2,500 or $1,500. Really? Are they looking out for their customers or more interested in bleeding them out like pigs? I’d say clearly the latter.
Time for a more Holistic Approach:
For the reasons above I have committed myself to being a crypto mentor and friend in the space - but as a business. As a bonus to signing up with me as your friend and mentor in the space I’ll share with you the publications. This way you help me cover the costs and I help you get what you want; the pricey information. Only I do better by you - in offering you my hand in expertise and kinship and getting your cost greatly reduced at the same time. It’s a no brainer for you really.
Keep in mind I have ALL the Palm Beach publications you could want; (Palm Beach Confidential, Crypto Income Quarterly (the "Tech Royalty" programs), Palm Beach Trader, Alpha Edge, Palm Beach Quant ) and also the lesser known and unrelated Crypto Vigilante of Dollar Vigilante fame (a very underrated publication imo). And you get someone who understands crypto and the crypto markets at a fairly high level - someone with the 10,000+ hours put into the space since 2014 to make me not only highly proficient - but arguably a distinct “expert” in the field.
If you were going to get the $75 rib-eye - wouldn’t the same steak taste even better at $25 - $50 while also having 3 sides (and fancy drinks) included? Your choice. This is what I’m offering you.
I have a videos showing me in all my splendor (lol) and trying to communicate who I am, and what I can do for you. I am currently offering a few levels of memberships to my mentorship and expertise and the publications and info you want. So why not have a brief talk about it? Drop me a line in direct message here (not in the public thread below) - and I’ll get you over the full monty of details regarding signing up with me and getting immediate access to the publications and my brain. ; )
You can also email me at: [[email protected]](mailto:[email protected])
I’ll even send you that private video of me first so you can decide if I’m the type of person you might want to do business with. I look forward to hearing from you! Drop me that message and please leave a brief note of what exactly you might be interested in. Thanks!
Proverbs 15:22 - Without counsel purposes are disappointed: but in the multitude of counsellors they are established.
submitted by remotelyfun to u/remotelyfun [link] [comments]

[WTS] 1894, 1901 $10 Gold Liberty’s, 1907 - $2.50 Liberty Quarter Eagle, 9.46 troy oz Canadian Junk @ $1.85 over spot per oz, silver, 1 oz rounds, ASE, Maples, Krugerrand, Philharmonic, 1886 S $1, 14k chains, Alaska Gold Nugget

Proof: https://imgur.com/a/Cd4y1ZH
$10 Liberty Gold Eagle, 1894, 1901, 0.48375 oz AGW - $1030 Each LOW PREMIUM
1907 - $2.50 U.S Liberty Gold Quarter Eagle - $365
9.46 Troy Oz ASW, Canadian Junk Lot, $5.90 FV - 80% Dimes, $9.5 FV - 80% Quarters, 2 - 50% quarters and 1 - 50% Dime, $1 over spot per ounce - $239.33
1962 Canada $1 Silver, 0.60 TROY OZ ASW - $15.75
1987, 1992, 1993 American 1 oz Silver Eagles, Key Dates - $30 Each SOLD
2014, 2009 - 1 oz American Silver Eagles - $29 Each SOLD
2 - 2020, 2016 1 oz Canada Silver Maple Leafs - $28 Each SOLD
2020 1 oz Austria Silver Philharmonic - $27.50 SOLD
2020 South Africa 1 Oz Silver Krugerrand - $27.50 SOLD
1 oz. Highland Mint Silver Round - Seated Liberty Design .999 Fine - $27
2 - 1 oz Incuse Indian Silver Rounds 1929 - $27 Each
Liberty Mint – U.S.S. Constitution Honest Value Never Fails 1 oz Silver Coin - $27
Walking Liberty 1 Troy Oz round - Money Metals Exchange - $27
Walking Liberty 1/2 Troy Oz round - Money Metals Exchange - $13.15
5 - Walking Liberty 1/10 Troy Oz Rounds - Money Metals Exchange - $3 Each
Apollo 11 50th Anniversary 2019 Proof Silver Dollar - 1 oz - $50
1 oz 2013 Canadian Pronghorn Antelope Silver Coin - 1M Minted - Low - $30
Gold Nugget, 1.37 grams, 22-24K Purity, ElDorado Gold Mine, Fairbanks Alaska - $120
1886 S Morgan Silver $1 Dollar Key Date - $50 SOLD
All jewelry is in great condition, no kinks, tangles, etc unless stated otherwise
14K Chain - 30”Inches Ling - 17.94 grams - $770
14K Bracelet - 8-8.5” Inches Long - 4.47 grams - $195
14K Italy Chain/Necklace - 24”Inches Long - 5.03 grams - $215
Willing to work with you, I will consider all trades for any gold or silver
Payment
I accept PayPal Friends and Family, Zelle, Venmo, Cash App, Zelle, Google pay
Bitcoin and other crypto currencies now accepted
Shipping
0-4 oz - $4 5-8 oz - $4.25 9-12 oz - $6 Priority shipping =$8, Stamped envelope - $1, medium flat rate box = $15
•Signature Confirmation $3 (Optional)
•Insurance is also available at buyers expense.
•I pack safely and discretely.
•Prices are subject to change at any moments notice.
•Message me if you have any questions.
•All packages will be dropped off on Tuesday or Wednesday.
•Once I drop the package at the post office I’m not responsible for USPS mistakes or losses
submitted by Redditaccount1543354 to Coins4Sale [link] [comments]

3.61 million bitcoins lost, is it good news for bitcoin holders?

According to the Coin Metrics report, it is assumed that the lost Bitcoin includes addresses for destruction (2213), wallet vulnerabilities (2609), and no mobile addresses for many years (1.4969 million). According to Chainalysis research, according to estimates of long-term holders, frequency of transfers, and strategic investors, it is believed that about 3 million cannot be recovered. According to Chain.info research, the total amount of UTXO was classified and estimated at three time points in 2013, 2014, and 2017, and it was found that there were about 3.61 million BTC lost, accounting for 20%. From the perspective of the distribution of bitcoin holdings over the past five years, the proportion of bitcoin holdings over five years has reached 21.62%, and most of this part has actually been withdrawn from circulation. At present, the market value of bitcoin is 909.085 billion yuan. If the lost amount is eliminated (20% has been lost), the actual market value after removal is 728.391 billion yuan. The inflation rate of bitcoin is maintained at about 3.6%. The actual annual inflation rate is about 4.5%, corresponding to the actual annual inflation rate after the block reward halved next year will be about 2.2%. So the good news is that permanently lost bitcoin is a kind of "subsidy" for long-term holders, but the bad news is that the substantial drop in real inflation and private key loss rates is "cutting" long-term holder subsidies.
submitted by Emma5201 to Bitcoin [link] [comments]

Summary of the new IRS guidelines (TLDR include)

Hey all - I know there's a dozen posts about the new crypto tax deadlines - so apologies for making it a dozen plus one.
Full disclosure, I work for Bitcoin.Tax, where this article was published. I've included the link to our summary, as well as our actual summary. Also - I'll be talking with a crypto tax pro on our podcast about these guidelines soon. I usually post links to our podcast on this subreddit, so stay tuned (if you want...) for that in the next few days. Hopefully this helps some folks, as parts of the new guidelines are fairly ambiguous.
Link: https://bitcoin.tax/blog/irs-crypto-tax-faq/
TLDR:
Generally, this is the same as the advice and common practice used by taxpayers and accountants. Although, the exception here is the clarification of the specific identification rule. We'll talk about that below.
Summary:
The IRS has issued their long-awaited guidance on the tax treatment for cryptocurrencies. You can read their FAQ On Virtual Currency Transactions on the IRS website.
This is the first official guidance since the original 2014-21 notice in April 2014.

IRS Cryptocurrency Tax FAQ

We have gone into more detail for some of the main points in their FAQ.

Hard forks and airdrops

Despite peculiar wording by the IRS, they have confirmed that receipt of crypto from an airdrop or fork is to be treated as income, and so subject to income tax.
ordinary income equal to the fair market value of the new cryptocurrency when it is received, which is when the transaction is recorded on the distributed ledger, provided you have dominion and control over the cryptocurrency so that you can transfer, sell, exchange, or otherwise dispose of the cryptocurrency
However, these drops typically have no market (perhaps a futures market) until they have existed for a period of time, so establishing a value could be difficult. It is possible that the value could be zero right at that exact moment it is recorded on the distributed ledger.
In order to receive income, you must have dominion and control over these new crypto. This effectively means you must be able to manage it; typically you would have the private keys or it is immediately available in a custodial wallet or online account, e.g. Coinbase.
If the crypto doesn't appear in your wallet, or you don't get control of it until a later date, then that later date is used to calculated the USD income value.
This had been a common question among crypto traders: if BTC was forked off into a new "BTC" coin, which you might not even have been aware of, do you still have income? The answer is no. Unless, you subsequently get access to those new coins, in which case you do have income on the date you receive control.
When you have income for an airdrop or fork, this also sets the cost basis (value and date) for any subsequent capital gains calculations.

Fair Market Value (FMV)

FMV is used to give something a value, i.e. what it's worth. If you list a bike for sale, you might research the prices for which other people are selling. Those prices give a FMV. But it you sell your bike and someone buys it for $100, then the bike's FMV was $100.
With crypto, sometimes we need to know FMV because we are not trading directly for dollars.
For example, if you sell 1 BTC for 150 LTC, you are disposing of the 1 BTC at FMV. You need to know the USD value in order to know the proceeds and to calculate any capital gains or losses.
So, first, if this was traded on an exchange, we use the spot price on the exchange at that time. This is true even if the transaction was off-chain.
However, where no FMV exists, such as a peer-to-peer transaction, then you have to get the value from elsewhere.
So, secondly, use the FMV of the service or product you are exchanging. With the above bike example, say buying it with crypto, the FMV would be that of the bike itself (the price it would have sold for USD).
Lastly, when no value can be obtained, then use a service that provides a consistent worldwide indices value (the IRS are calling this an "explorer" but that is a confusing term as blockchain explorers may not provide a USD value). If you do not use an "explorer" value, you can use an "accurate representation of the cryptocurrency's market value". Much like with fiat, this means using an establish and consistent source.

FIFO and Specific Identification

Advice from most tax preparers and accountants has been to err on the side of caution and go with First-In First-Out (FIFO). Basically, if you bought 1 BTC for $9,000 and later another for $10,000, when you come to sell 1 BTC (or partial) you would use the cost of the first 1 BTC that you had acquired.
This is the default IRS cost basis method and would not be challenged.
Some taxpayers had filed using specific identification, where FIFO was not used and instead the "lot" that was sold was chosen from their wallets. Summary strategies could also be employed, such as Last-In First-Out (LIFO), where the basis of the most recently acquired crypto is used instead.
These other strategies, such as last-in first-out, closest-cost or lowest-cost, often try to minimize the gains per transaction and defer them until later.
This is the biggest change in the new IRS guidance and confirms that specific identification can be used. However, you must be able to document this, which the IRS describes as:
You may identify a specific unit of virtual currency either by documenting the specific unit’s unique digital identifier such as a private key, public key, and address, or by records showing the transaction information for all units of a specific virtual currency, such as Bitcoin, held in a single account, wallet, or address.This information must show (1) the date and time each unit was acquired, (2) your basis and the fair market value of each unit at the time it was acquired, (3) the date and time each unit was sold, exchanged, or otherwise disposed of, and (4) the fair market value of each unit when sold, exchanged, or disposed of, and the amount of money or the value of property received for each unit.
There is no guidance if any extra information should be reported, but it is generally the same information that is added to the 8949 form where capital gains are reported.

Gifts and Donations

Similar to gifts of stocks or property, the rules regarding cost basis have remained unchanged. Received gifts are not immediate income but you do still recognize an capital gains income when you later come to sell, exchange or dispose of the cryptocurrency.
You can use the original basis (with documentation) from the giver in order to make use of long-term gains. However, your received basis becomes the lesser of the giver's cost basis and the FMV of the gift on the date you received it. This is to prevent from gifting losses. Also, if you do not have documentation showing the gift cost basis, then your basis is zero, i.e. you must declare 100% as capital gains.
Donations to registered charities do not recognize income, gains or losses. The value of your charitable donation is the FMV on the date of the gift if you have held the crypto for more than a year. For a year or less, it is lesser of the crypto's cost basis or its FMV on the day of the gift.

What was not mentioned

There are still some key questions and ambiguities that tax professionals have been looking for clarification. For instance, with hard forks and airdrops, if you have the private keys but no software, does that count as control?
Airdrop and forks generally have no markets when they are created, so is there a zero FMV? And should you take the value only when you exercise control?
Can specific identification be used at will or must it be done consistently?
Were 1031 "like-kind" exchanges ever a valid approach before 2018?

Guidance is retroactive

Finally, be aware that IRS guidance is always retroactive, unless otherwise stated, and so should be applied to past and future crypto transactions. If you have not followed these rules then you should consult with your tax professional and may need to file an amendment.
---

Edit:
According to BitcoinTaxesMe:
I clarified a couple of the not mentioned ones with the IRS verbally yesterday. This isn't official guidance, but some insight into what the IRS is thinking:
"For instance, with hard forks and airdrops, if you have the private keys but no software, does that count as control?"
If you the software exists and you don't install it, but could have, it's income, even if installation presents a security risk.
"Airdrop and forks generally have no markets when they are created, so is there a zero FMV? And should you take the value only when you exercise control?"
There's no income recognized until you both have control and there's a way to sell it. So there's no way to take a zero basis, as soon as a market appears it triggers the 2nd prong.
I personally think both of these are insane.
submitted by Sal-BitcoinTax to BitcoinMarkets [link] [comments]

What are Bitcoin and Other Cryptocurrencies Backed By?

Bitcoin was created back in 2009 and became the first cryptocurrency ever designed. Cryptocurrencies have become increasingly popular in the last few years as they offer an efficient and decentralized way of transferring money.
Cryptocurrencies have always been an alternative to banks and fiat money. But why do they have any value at all and who dictates what they are worth? The value of Bitcoin is really calculated through supply and demand. The digital asset itself is backed by nothing more than perhaps the blockchain ledger.
Every single cryptocurrency uses a blockchain ledger, a system that records transactions between two or more parties in a verifiable and permanent way. This certainly adds value to Bitcoin and cryptocurrencies. However, it is not what determines their price.
Why Things Have Value
Why does anything have any value at all? It has mostly because of supply and demand. Traditional currencies, for instance, are only backed by the government that issued them. Digital money, like Bitcoin, is not backed or linked to any physical reserves like gold and can certainly lose value due to different factors.
Cryptocurrencies have value because they require ‘work’ to exist. Cryptocurrencies are maintained thanks to the mining process, a process in which transactions are verified by different people. This process requires a certain amount of work, electricity, and money.
Key Factors That Affect The Value of Cryptocurrencies
Since most cryptocurrencies are not physically backed by anything, their value is determined through supply and demand based on a few important factors. One of the biggest advantages of cryptocurrencies is scarcity. The supply of most cryptocurrencies is fixed, and, unlike traditional currencies, no one can issue more than the maximum limit. This means that cryptocurrencies are deflationary by nature.
Another key factor that benefits cryptocurrencies is divisibility. Any cryptocurrency can be divided into smaller units. A simple change in Bitcoin’s code could allow the digital asset to be divided into infinitely smaller units at any time.
Additionally, transferring cryptocurrencies can be extremely fast and cheap compared to traditional methods. Fees are somewhat fixed no matter the amount you send, which means that theoretically you could send 1 million Bitcoins to someone and pay only a few dollars in fees (or even less).
In a way, one could say that Bitcoin and cryptocurrencies are backed by the public’s faith in them as they have realized that the current monetary system is not as robust as one might think.
Why Are Cryptocurrencies so Volatile Then?
In comparison to traditional currencies and even stocks, cryptocurrencies are far more volatile, meaning that the current price of any given crypto can change drastically in hours. It’s quite common to see Bitcoin’s price go up or down 5-10% within a few days. In fact, even in periods of low volatility, most cryptocurrencies still experience price moves of up to 1-2%, which is considered extremely high in traditional markets.
The explanation, however, is quite simple. Cryptocurrencies, in general, lack the liquidity that the rest of the markets enjoy. According to statistics from Statista, the average daily turnover in the global foreign exchange market was around $6.5 trillion daily. The cryptocurrency market, on average, sees around $80 billion in daily trading volume, and according to various sources, a lot of the volume is actually fake.
The problem with illiquidity is that someone who wants to sell or buy a huge amount of Bitcoin or any cryptocurrency will simply ‘eat’ all the orders in the order book of the exchange, catapulting the price up or crashing it. That is the only reason why cryptocurrencies, in general, are extremely volatile.
Some Cryptocurrencies Are Actually Backed by Things
There are, however, some cryptocurrencies that are backed by gold, assets, and even fiat money. Tether (USDT) became the most popular cryptocurrency backed by fiat, later known as a ‘stablecoin’.
Stablecoins
A stablecoin is designed to always be worth $1.00 by maintaining 1 dollar in some sort of reserve. The first stablecoin to become widely popular was Tether, however, there was a lot of controversy surrounding it. Most of the criticism came from the fact that Tether Limited was unable to prove they actually have the funds to cover all the Tether issued.
Additionally, on 30 April 2019, Tether Limited’s lawyer actually admitted that each coin is only backed by $0.74 in cash.
Currently, there are over a dozen stablecoins that are backed by fiat, commodities, and even cryptocurrencies. TrueUSD is similar to Tether but it is considered to be one of the most reliable stablecoins currently as the company behind it has been extremely transparent and conducted an independent audit back in March 2019.
A more complex stablecoin is Dai, which is backed by Ethereum and pegged to the dollar. The system behind Dai basically locks Ethereum in a public contract. If the value of Dai distances too far from $1, the system will make use of the contract to stabilize it back. There is, however, a small problem: Dai is not entirely decentralized as the technology behind it is being monitored by the Maker Foundation.
DigixDAO is another stablecoin and it’s backed by bars of actual gold. It is an ERC-20 token created back in 2014. The digital asset is entirely decentralized and autonomous and can in fact be extended to be backed by other precious metals and even physical assets. According to the company, the gold is stored in custodial vaults at the Singapore Safe House, and 1 DGX will always equal 1 gram of gold.
Cryptocurrencies Backed by Assets
Not all cryptocurrencies backed by assets are stablecoins. For instance, the first oil-backed cryptocurrency was introduced by Venezuelan President Nicolas Maduro back in 2017. El Petro, although highly criticized, is supposedly the first cryptocurrency to be backed by oil thanks to the country’s huge oil and mineral reserves.
Petro is, however, not pegged to anything, and its value can increase or decrease at any given time.
Tokenization of Assets
Something that has become quite popular over the last few years is the tokenization of traditional stocks and assets. There are countless blockchain startups tokenizing almost anything to represent ownership.
The tokenization of assets brings numerous benefits like greater liquidity, more transparency, cheaper and faster transactions, and more accessibility. Tokenization itself is quite difficult to regulate, and all tokenization assets have to be compliant with the law, something that issuers struggle to achieve.
Conclusion
While traditional cryptocurrencies are not necessarily backed by anything physical, they still hold a lot of value solely based on supply and demand. This is the case with numerous other assets and even fiat money.
Cryptocurrencies have come a long way and there is a wide variety of them. Stablecoins are the most popular when it comes to asset-backed cryptocurrencies. They serve as an alternative to fiat money and bring a lot of liquidity to the market. There are definitely concerns as people question their stability, however, they have become an important factor in the market.
Additionally, other projects aside from stablecoins have implemented asset-backed cryptocurrencies. There are numerous cryptocurrencies out there backed by precious metals, physical assets, stocks, and even other cryptocurrencies. We are definitely going to see even more in the near future as they bring a lot more security to investors and the crypto space in general.

SwapSpace team is always ready for discussion. You can drop an email with your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook, Telegram The best rates on https://swapspace.co/
submitted by SwapSpace_co to CryptoTechnology [link] [comments]

Are Pricey Crypto Publications like Palm Beach a substitution for a Crypto Mentor?

Why Having a MENTOR in Crypto is Very Important
For the past couple of years I have been sharing the exorbitant costs of the Palm Beach newsletter services with a few other people. But what started off as a simple share of the costs of these publications has actually turned into me being a teacher or counselor in the space to many who are completely new to the world of cryptocurrency.
A bit about me:
As someone who has been buying bitcoin since early 2014 I became the ipso facto ‘crypto expert’ among my friends and new newsletter shares. People came to me with all types of questions which I had taken for granted since I had long ago been through the learning curve required to make me highly proficient at navigating the complex waters of cryptocurrency.
It was at this time that I realized just how difficult crypto currency can be for most people. Many things I took for granted are not actually that simple. I’ve gotten questions all over the board over the years: “how do I buy bitcoin?” - or “How do I send it now that I have it”. “What’s a crypto wallet?” “what are the best exchanges to use?”, “what does ERC-20 mean?” …and on and on and on. I realized that things that I took for granted were actually very real concerns and struggles for people. So I became a teacher of sorts to those who needed help getting their footing established in the wild west of crypto, and instead of being someone who simply shared the costs of pricey publications I ended up being a mentor, an ally, and a friend to many of these people.
Here are a few things I’ve noticed over the years:
Most of the mistakes people make are done early on as they are trying to get set up. There are many traps out there to part you with your money. Fly by night exchanges…or even bogus exchanges, people promising you educational courses that turn out to be worthless drivel and many people online telling you which coins to buy hyping things so much because they want YOU to buy their bags - not to make you rich. I once had a friend google a crypto exchange customer service number. The number wasn’t real but a spoof website in a paid search result which connected her to a scammer who proceeded to steal her $8,000 worth of bitcoin in about 30 seconds. Poof! Gone!
What’s important when you are first new to crypto is to realize that everyone has an agenda and most of the time it’s not a mutually beneficial one. This is the wild wild west! You better have your wits about you, and be quick on the draw - otherwise you’ll blink and suddenly find yourself penniless.
But even good guys have an agenda. I know I do! But mine is more altruistic and designed to be “mutually beneficial”. See, I’m hoping to gain some of your trust to have a conversation so that you’ll allow me to be your ally and mentor in the space - giving me the chance to share both my knowledge and the Palm Beach publications (quarterly or confidential - or others) that you want. Like most value adding things in life it starts with a profit motive; capitalism at its purest. But the best business is also the business which helps solve problems. And that is what I am attempting to do here - to connect with a few people that I can add value and insights to.
Swimming with Sharks or the Land of Milk and Honey?:
With that said cypto is full of some of the slimiest people on earth. Scammers and frauds in boiler rooms in India or Pakistan or China trying to take advantage of your naiveté. It is what it is. Welcome to crypto. But crypto is also the new land of opportunity- a land where you can stake a claim and strike gold, or watch oil just gushing out of the ground. So, yes it can be a wonderful place too! Some of the best people I know I’ve met through my cryptocurrency connections and projects I have become passionate about. Many of these are freedom loving people acutely aware that many things aren’t right in the world and many things need to be changed. We love profit combined with the ideological purity of what crypto is at its core, and usually find agreement in the fact that crypto offers many solutions to a world begging for a paradigm shift towards more honesty and integrity in a broken world full of corrupt systems and cronyism.
But where do you turn for the advice if you are an outsider looking into this fascinating new world and the possibilities that it presents? Do you go to youtube? Do you run to a computer and start googling bitcoin? Will your smart Uncle Joe be able to help you? Certainly, there is a lot of information you can glean our there on your own if you are industrious and persistent. But these are also shark infested waters, and as I said earlier - nearly everyone has an agenda. Usually, as a newbie in crypto you are the “mark” - or as poker players would say; “the fish” at the table. Everyone will welcome you to grab a seat and offer you a smoke… getting you extremely comfortable, before taking your money leaving you wondering what the hell just happened?!
Are you the Customer or “the mark”?
Sadly, many of the latest and greatest crypto publications have also gone the route of the hustler at the poker table. They get you to empty your pockets to enter into the game - and then later they hold you by your ankles and shake you until anything left comes spilling out onto the ground. It’s a brutal world for sure. How many of you are aware that the moment you sign up for Palm Beach (for one example) the next week or even day they will be hitting you up to sign up for yet another multi-thousand dollar subscription service with them or one of their partners like Bonner and Associates or Legacy Research Group? Don’t believe me? Sign up and find out!
To me this is greed at its highest and most perverse level. They claim to want to “help” you become one of the nouveau rich - and they charge a literally boat load of money for the information to do so. The information is very good even! But then just days later you will find out that your information is “incomplete” - and that what you really need to do is to buy this “other” publication which shows you a more nuanced (and shhhh, also secret formula ) to really getting those profits you crave sooner - only even much bigger profits this time - in another sector - oh by the way this will only cost you another $2,500 or $1,500. Really? Are they looking out for their customers or more interested in bleeding them out like pigs? I’d say clearly the latter.
Time for a more Holistic Approach:
For the reasons above I have committed myself to being a crypto mentor and friend in the space - but as a business. As a bonus to signing up with me as your friend and mentor in the space I’ll share with you the publications. This way you help me cover the costs and I help you get what you want; the pricey information. Only I do better by you - in offering you my hand in expertise and kinship and getting your cost greatly reduced at the same time. It’s a no brainer for you really.
Keep in mind I have ALL the Palm Beach publications you could want; (Palm Beach Confidential, Crypto Income Quarterly, Palm Beach Trader, Alpha Edge, Palm Beach Quant ) and also the lesser known and unrelated Crypto Vigilante of Dollar Vigilante fame (a very underrated publication imo). And you get someone who understands crypto and the crypto markets at a fairly high level - someone with the 10,000+ hours put into the space since 2014 to make me not only highly proficient - but arguably an “expert” in the field.
If you were going to get the $75 rib-eye - wouldn’t the same steak taste even better at $25 - $50 while also having 3 sides (and fancy drinks) included? Your choice. This is what I’m offering you.
I have a videos showing me in all my splendor (lol) and trying to communicate who I am, and what I can do for you. I am currently offering a few levels of memberships to my mentorship and expertise and the publications and info you want. So why not have a brief talk about it? Drop me a line in direct message here (not in the public thread below) - and I’ll get you over the full monty of details regarding signing up with me and getting immediate access to the publications and my brain. ; )
I’ll even send you that private video of me first so you can decide if I’m the type of person you might want to do business with. I look forward to hearing from you! Drop me that message and please leave a brief note of what exactly you might be interested in. Thanks!
Proverbs 15:22 - Without counsel purposes are disappointed: but in the multitude of counsellors they are established
submitted by remotelyfun to CoinBase [link] [comments]

Why Having a MENTOR in Crypto is Very Important

Why Having a MENTOR in Crypto is Very Important
For the past couple of years I have been sharing the exorbitant costs of the Palm Beach newsletter services with a few other people. But what started off as a simple share of the costs of these publications has actually turned into me being a teacher or counselor in the space to many who are completely new to the world of cryptocurrency.
A bit about me:
As someone who has been buying bitcoin since early 2014 I became the ipso facto ‘crypto expert’ among my friends and new newsletter shares. People came to me with all types of questions which I had taken for granted since I had long ago been through the learning curve required to make me highly proficient at navigating the complex waters of cryptocurrency.
It was at this time that I realized just how difficult crypto currency can be for most people. Many things I took for granted are not actually that simple. I’ve gotten questions all over the board over the years: “how do I buy bitcoin?” - or “How do I send it now that I have it”. “What’s a crypto wallet?” “what are the best exchanges to use?”, “what does ERC-20 mean?” …and on and on and on. I realized that things that I took for granted were actually very real concerns and struggles for people. So I became a teacher of sorts to those who needed help getting their footing established in the wild west of crypto, and instead of being someone who simply shared the costs of pricey publications I ended up being a mentor, an ally, and a friend to many of these people.
Here are a few things I’ve noticed over the years:
Most of the mistakes people make are done early on as they are trying to get set up. There are many traps out there to part you with your money. Fly by night exchanges…or even bogus exchanges, people promising you educational courses that turn out to be worthless drivel and many people online telling you which coins to buy hyping things so much because they want YOU to buy their bags - not to make you rich. I once had a friend google a crypto exchange customer service number. The number wasn’t real but a spoof website in a paid search result which connected her to a scammer who proceeded to steal her $8,000 worth of bitcoin in about 30 seconds. Poof! Gone!
What’s important when you are first new to crypto is to realize that everyone has an agenda and most of the time it’s not a mutually beneficial one. This is the wild wild west! You better have your wits about you, and be quick on the draw - otherwise you’ll blink and suddenly find yourself penniless.
But even good guys have an agenda. I know I do! But mine is more altruistic and designed to be “mutually beneficial”. See, I’m hoping to gain some of your trust to have a conversation so that you’ll allow me to be your ally and mentor in the space - giving me the chance to share both my knowledge and the publications you want. Like most value adding things in life it starts with a profit motive; capitalism at its purest. But the best business is also the business which helps solve problems. And that is what I am attempting to do here - to connect with a few people that I can add value and insights to.
Swimming with Sharks or the Land of Milk and Honey?:
With that said cypto is full of some of the slimiest people on earth. Scammers and frauds in boiler rooms in India or Pakistan or China trying to take advantage of your naiveté. It is what it is. Welcome to crypto. But crypto is also the new land of opportunity- a land where you can stake a claim and strike gold, or watch oil just gushing out of the ground. So, yes it can be a wonderful place too! Some of the best people I know I’ve met through my cryptocurrency connections and projects I have become passionate about. Many of these are freedom loving people acutely aware that many things aren’t right in the world and many things need to be changed. We love profit combined with the ideological purity of what crypto is at its core, and usually find agreement in the fact that crypto offers many solutions to a world begging for a paradigm shift towards more honesty and integrity in a broken world full of corrupt systems and cronyism.
But where do you turn for the advice if you are an outsider looking into this fascinating new world and the possibilities that it presents? Do you go to youtube? Do you run to a computer and start googling bitcoin? Will your smart Uncle Joe be able to help you? Certainly, there is a lot of information you can glean our there on your own if you are industrious and persistent. But these are also shark infested waters, and as I said earlier - nearly everyone has an agenda. Usually, as a newbie in crypto you are the “mark” - or as poker players would say; “the fish” at the table. Everyone will welcome you to grab a seat and offer you a smoke… getting you extremely comfortable, before taking your money leaving you wondering what the hell just happened?!
Are you the Customer or “the mark”?
Sadly, many of the latest and greatest crypto publications have also gone the route of the hustler at the poker table. They get you to empty your pockets to enter into the game - and then later they hold you by your ankles and shake you until anything left comes spilling out onto the ground. It’s a brutal world for sure. How many of you are aware that the moment you sign up for Palm Beach (for one example) the next week or even day they will be hitting you up to sign up for yet another multi-thousand dollar subscription service with them or one of their partners like Bonner and Associates or Legacy Research Group? Don’t believe me? Sign up and find out!
To me this is greed at its highest and most perverse level. They claim to want to “help” you become one of the nouveau rich - and they charge a literally boat load of money for the information to do so. The information is very good even! But then just days later you will find out that your information is “incomplete” - and that what you really need to do is to buy this “other” publication which shows you a more nuanced (and shhhh, also secret formula ) to really getting those profits you crave sooner - only even much bigger profits this time - in another sector - oh by the way this will only cost you another $2,500 or $1,500. Really? Are they looking out for their customers or more interested in bleeding them out like pigs? I’d say clearly the latter.
Time for a more Holistic Approach:
For the reasons above I have committed myself to being a crypto mentor and friend in the space - but as a business. As a bonus to signing up with me as your friend and mentor in the space I’ll share with you the publications. This way you help me cover the costs and I help you get what you want; the pricey information. Only I do better by you - in offering you my hand in expertise and kinship and getting your cost greatly reduced at the same time. It’s a no brainer for you really.
Keep in mind I have ALL the Palm Beach publications you could want; (Palm Beach Confidential, Crypto Income Quarterly, Palm Beach Trader, Alpha Edge, Palm Beach Quant ) and also the lesser known and unrelated Crypto Vigilante of Dollar Vigilante fame (a very underrated publication imo). And you get someone who understands crypto and the crypto markets at a fairly high level - someone with the 10,000+ hours put into the space since 2014 to make me not only highly proficient - but arguably an “expert” in the field.
If you were going to get the $75 rib-eye - wouldn’t the same steak taste even better at $25 - $50 while also having 3 sides (and fancy drinks) included? Your choice. This is what I’m offering you.
I have a videos showing me in all my splendor (lol) and trying to communicate who I am, and what I can do for you. I am currently offering a few levels of memberships to my mentorship and expertise and the publications and info you want. So why not have a brief talk about it? Drop me a line in direct message here (not in the public thread below) - and I’ll get you over the full monty of details regarding signing up with me and getting immediate access to the publications and my brain. ; )
I’ll even send you that private video of me first so you can decide if I’m the type of person you might want to do business with. I look forward to hearing from you! Drop me that message and please leave a brief note of what exactly you might be interested in. You can do that here on Reddit or at: [[email protected]](mailto:[email protected]) Thanks!
Proverbs 15:22 - Without counsel purposes are disappointed: but in the multitude of counsellors they are established.

palm beach confidential, teeka tiwari, crypto income quarterly, crypto teacher, crypto learning, learn bitcoin, cryptocurrency class
submitted by remotelyfun to u/remotelyfun [link] [comments]

As the 4th Bitcoin Gaining Cycle Comes, How to Maximize Your Profit and Avoid the Risks?

Background:
By reviewing the bitcoin market movements last month, the bitcoin price on Nov. 1st was $9,054. When the end of Nov came, the bitcoin price dropped to $7,318.
As the historical trend of bitcoin has gone, the bitcoin price has been through 3 cycles of gaining:

  1. From 2009.01 to 2013.04, the bitcoin price rose from $0 to $198. At the initial point of the 1st period, the bitcoin had no price, and its value was defined by Satoshi Nakamoto and other early miners. At that time, bitcoins had nowhere to trade, the early miners only could hold it. It is one of the reasons why the bitcoin price pumps or dumps sharply because the early holders can choose anytime to sell it and quit. In the middle of 2010, the first bitcoin exchanges such as Mt.Gox launched. And as exchanges like Bitstamp, Kraken and Coinbase started operating, the era of “Bitcoin Online Trading” came, and the bitcoin price had soared to $198.
  2. As the bitcoin price firstly touched $198, some of the early miners started selling the bitcoins they hold for arbitrage. When the date past 2013.07, the bitcoin price fell to $69. Then, the bitcoin price boomed to $1,000 when some of the institutions with a traditional financial background and some personal investors injected capital into the bitcoin market in the second half of 2013.
  3. In early 2014, the biggest heist of bitcoin on Mt.Gox happened urged the bitcoin price to slump. the bitcoin price did not go back to $1,000 until Feb 2017. And as the ICO projects got popular and the fork of bitcoin happened, the trading volume of bitcoins reached the peak and the price of bitcoin also reach the peak of $20,000.
After reviewing the gaining cycles of the bitcoin price until now, the corollary that we are now going through the fourth cycle.
Just as the financial history repeats itself, the percentage of holding bitcoin more than 12 months has decreased to 40%, which is similar to the situation that the last time the bitcoin price boomed to $1,000. We can easily draw a conclusion that the decentralization of bitcoin holding means that the trading demand of bitcoin is increasing. And when the bitcoin trading becomes diversified with the bitcoin finance derivatives became more and more robust, more and more financial institutions and personal investors will enter the bitcoin market. Thus, in the next period, the bitcoin price will present an uptrend in total.
So, how to achieve the benefit maximization and avoid the risk when the fluctuations happen in this period?

Hedging is definitely an important part you should plan for your bitcoin trading. With hedging work for your trading, you will avoid the risk of holding a bitcoin but the price drops in some time.
For example, 3 weeks ago, the bitcoin price decreased from $8,150 to $6,665, if you hold 1 bitcoin, then you would lose $1,485 during this decline. However, if you chose bitcoin derivatives such as futures or options to buy a contract for BTC Short, then you will save $1,458 loss when the bitcoin price dropped.
Here are two solutions I’ve mentioned above: Futures&Swap, Options.
  1. In futures trading, you can open leveraged BTC Short contracts with the principal, margins and fees. If you hold 1 bitcoin at that time, and you select the leverage in 20X, to save the loss of $1,485, you will need the principal in $400, and the margins at least 0.00024 BTC (but usually you will need to input more to prevent from liquidation). It is a useful way for you to hedge the risk of holding 1 bitcoin.
  2. In options trading, for example, if you open a 7-days put contract on BitOffer Bitcoin Options, usually it only needs around $200. Moreover, it does not request any margin and any fees.
Here is how it works:
When you hold a 7-days put contract, if bitcoin price drops from $8,000 to $7,000, you will earn $1,000 profit, and in total, your loss of the bitcoin you hold will be hedged because you earn $1,000 from BitOffer Bitcoin Options.
What if the bitcoin price rises from $8,000 to $9,000?
You will lose $200 with the 7-days put contracts you buy, but you still earn $1,000 with the bitcoin you hold.
BitOffer Bitcoin Options, the best hedging tool ever, is now the easiest and cheapest hedging solutions you can see in the market.
Ending:
With an effective hedging strategy, I deeply trust you all should be able to maximize your profit and avoid the risk even the bitcoin market fluctuates acutely like always.
submitted by SorosLamfer to u/SorosLamfer [link] [comments]

Epic Cash Vitex Exchange AMA

What is EPIC CASH?
Epic Cash is the final point in the journey toward true P2P internet cash, the cornerstone of a private financial system. The Epic currency aims to become the world’s most effective privacy-protecting form of digital money. In order to fulfill that goal, it satisfies the three principal functions of money:
1. Store of Value — can be saved, retrieved, and exchanged at a later time, and of predictable value when retrieved;
2. Medium of Exchange — anything accepted as representing a standard of value and exchangeable for goods or services;
3. Unit of Account — the unit by which the value of a thing is accounted for and compared.
Website: http://epic.tech Whitepapers: http://epic.tech/whitepaper Epic Cash Community: https://t.me/EpicCash Miner Chat: https://t.me/EpicMiners Gitlab: gitlab.com/epiccash Twitter: twitter.com/EpicCashTech Social Media: http://epic.tech/social-media Exchanges: https://epic.tech/service-list
Oleg✌🏻
Hello community! Our AMA with EPIC begins🚀 We are very happy to have you here, on our joint AMA👌 So, lets start! The very first question for you. Can you introduce yourself?
Max Freeman | Epic Cash | Mimblewimble I’m Max Freeman, which stands for “Maximum Freedom for Mankind” — we believe that the existing fiat money system enslaves people by unfairly confiscating their wealth through inflation. By using an honest money system such as Epic, we can improve the quality of life for billions of people worldwide.
Yoga Dude Hello, I am Yoga Dude 🙂 I handle Marketing and PR, in crypto since 2011 started as Bitcoin miner, and in 2014 in Monero, and in 2015 in Ethereum, oh and briefly in DOGE for fun and unexpected profit. Heard about Epic Cash while learning about the Mimblewimble algo and joined the team last year.
JLong I am John, Doing the general engineering and managerial work
Max Freeman | Epic Cash | Mimblewimble I have been involved in early stage cryptos for the past 3 years, after building a global trading business for the past 20 years.
Oleg✌🏻 nice to meet you🙂
Max Freeman | Epic Cash | Mimblewimble Epic is a decentralized community project like Bitcoin or Monero, there is no central authority or corporation involved. We had no ICO and no premine, we had a fair launch at 0 supply last September.
Yoga Dude Great to meet everyone :)
Oleg✌🏻 Here we go the 1st question for you ~ 1. What is Epic Cash about?
Yoga Dude Epic Cash is designed to fulfill Satoshi’s original vision of P2P electronic cash, adjusting for what we learned from Bitcoin, a medium of exchange that is fast, free, open to all, while being private and fungible. We launched in September 2019 as a Proof of Work mineable crypto, without an ICO or a premine.
Oleg✌🏻 Look like a real Bitcoin🙂
Yoga Dude with privacy and fungibility 😄
Oleg✌🏻 Sounds cool! move on to the next question… 2. What makes Epic Cash better than Monero or other privacy coins?
Max Freeman | Epic Cash | Mimblewimble First off, we have a lot of respect for Monero and other privacy coins, we learned a lot from what they did right and what they did wrong, Our blockchain is much lighter than Monero or Bitcoin, our transaction engine is faster than Monero or ZCash. We use a three mining algo approach to allow more users the ability to obtain Epic Cash. We are a new, highly undervalued, coin and we look great not only for future use but for today's investment. Our blockchain is 90+% smaller than Monero or Bitcoin. Coins such as Zcash have optional privacy. Epic makes all transactions private, and it is impossible to trace movements of coins by watching wallet addresses.
Oleg✌🏻 Young and hot😋 security and privacy level is very important now but… 3. Why copy the same supply economics as Bitcoin?
Yoga Dude It is hard to compete with the success of Bitcoin today, part of the elegance and the appeal of Bitcoin is the responsible emission rate, terminating at 21million highly sub dividable coins. Like the Bitcoin supply curve, Epic Cash encourages early adopters, and with subsequent halvenings maintains a gradually diminishing flow of additional currency while preserving the overall value.
Max Freeman | Epic Cash | Mimblewimble In 2028, the supply of Epic matches that of Bitcoin and they stay in sync until the final coin is mined in 2140. We have 4 halvenings between now and then, which is demonstrated in Bitcoin to drive the value over market cycles. Epic is a chance for people who were late to Bitcoin to ride the wave and not miss their opportunity this time.
Oleg✌🏻 Interesting! 4. Why Choose Epic Cash over Grin and Beam?
Max Freeman | Epic Cash | Mimblewimble First of all, we have tremendous respect for all Mimblewimble currencies and their talented teams, they all taught us a lot and we are thankful for that. Without sounding too contentious, the choice seems obvious. We offer the same core tech, but with a much more responsible emission curve — Grin is an endless fountain of emission and inflation (60 per second forever), and Beam is even more frontloaded outpacing even Grin’s aggressive emission schedule for the next several years… We respect Grin and Beam, we learned from them, and we believe we are the next evolutionary step. Additionally, as we mentioned earlier, we offer more ways to mine Epic Cash, both with GPU and CPU and ASICs, this gives us more potential users and miners, vs Grin and Beam that are only mineable with GPUs.
Yoga Dude Yes, all that ☝️😄
Oleg✌🏻 I hope the miners read it all carefully 👌 Next question 5. Why have a development fund tax and what will it be used for?
Yoga Dude Dev fund tax today is at a reasonable 7.77% dropping by 1.11% every year until it hits zero. As Epic Cash grows in value these funds will become increasingly more relevant in additional technical, marketing, and fintech partnerships developments.
Oleg✌🏻 Very smart! 6. What is the advantage of 3 mining algorithms?
Max Freeman | Epic Cash | Mimblewimble By having multiple mining algorithms we are able to attract CPU, GPU, and ASIC miners simultaneously. Currently all other Mimblewimble currencies are mineable with GPU only ignoring a large segment of CPU miners. Monero made a splash migrating to the RandomX CPU mining algo. Epic Cash from the beginning embraces all mining communities. Many miners are successfully using older hardware such as Xeon processors to help secure the network. We use RandomX for CPU, ProgPow for GPU, and Cuckoo for ASIC.
Longer term, our flexible architecture means we can have many algorithms, not just 3. Our roadmap includes an allocation for SHA3 Keccak, which will help further decentralize the network and keep it unstoppable.
Yoga Dude We love miners 🙂 and Epic Cash can be mined with laptops and gaming rigs 🙂
Oleg✌🏻 A wide selection of mining methods is a great way to create a stable, decentralized and large network👌 Let’s talk about persons… 7. Who are the people developing Epic Cash?
Yoga Dude We are blessed with a very talented team of skilled developers with diverse backgrounds, many of them are volunteers who believe in what Epic Cash stands for and contribute with product and usability innovation. Our teams main focus is to make Epic Cash the best, most secure, most user friendly and usable product on the market, without making it unnecessarily techie, with as much mainstream user appeal as possible. This is a serious challenge but we are up for it 😄
Max Freeman | Epic Cash | Mimblewimble It is also important to note that we are a truly open ecosystem that anyone can participate in. Our community has developed wallets, mining pools, educational content, and much else besides. We are not limited by the funding generated during an ICO or VC investment, our users are an essential element of our team.
Oleg✌🏻 Sounds very attractive. 8. What do you think is currently lack in today’s crypto?
Max Freeman | Epic Cash | Mimblewimble We believe there is not enough privacy, anonymity and fungibility, although there is a growing awareness in the community as to why these are necessary. People are waking up to the fact that privacy is a right for everyone but today it is being exploited and violated by corporations, governments and unscrupulous individuals. Privacy does not mean that you have something to hide. We have doors on our houses, curtains on our windows, we wear clothes, and we have security on our bank accounts and businesses, not because we are criminals.
Fungibility (the property of not being able to distinguish one unit of currency from another) also has become a hot issue as people have started to get in trouble because of someone else’s misdeeds. Tainted money (coins that are blacklisted or restricted) is a problem for Bitcoin and Ethereum, the top two cryptos today. Mimblewimble eliminates the risk of tainted coins making them indistinguishable from each other. With traceable coins, you always have to worry if the coins you are getting were involved in a hack, or perhaps the darknet.
Oleg✌🏻 It’s good to see strong and safe coin in our time Let’s talk about your future… 9. What does the Epic Cash roadmap look like going forward?
Yoga Dude First and foremost, we are focused on security and usability.
We are working on a new, improved GUI wallet to incorporate the community feedback on ways to improve it.
We are in the process of completing final testing phases for the next iteration of Epic Cash which will make it more secure and stable. Once that is done, we will be rolling out Android and iOS support to make Epic Cash usable on leading smartphones and smartwatches. Beyond that without going into too much detail we are focused on continuous evolution of privacy, ease of mining, and overall speed and usability.
And of course we are constantly looking to add more exchanges both with and without KYC.
Oleg✌🏻 Are you working on Android and IOS wallet ? What will your application be?
Max Freeman | Epic Cash | Mimblewimble Yes, we will release a mobile wallet this year. It will bring us one step closer to people being able to actually use cryptocurrency as money in daily life.
Yoga Dude The idea is to be able to access Epic Cash from any platform and device
Max Freeman | Epic Cash | Mimblewimble Epic is very lightweight, which means that low-end devices such as smartwatches can participate.
Oleg✌🏻 Ok, got it. Thanks for clarification! 10. What else can you tell us about Epic Cash?
Max Freeman | Epic Cash | Mimblewimble Well one thing I really want to mention is our great Epic Cash community. We’ve been building a decentralized community organically, without the talk of price pumps, pressure to HODL and other BS crypto-gimmicks. Our community is truly global and consists of developers, volunteers, miners, and other Epic enthusiasts spreading the word about Epic Cash, helping us reach millions of people around the world to improve their quality of life through social media and directly. Everyone is an evangelist, everyone is an influencer, everyone has the power to make the world a better place to live in. As we continue to grow — the future looks Epic 😊
Yoga Dude Definitely the community! We got a talented crowd of very cool and motivated people from all over the world!
Oleg✌🏻 Thank you guys, for such informative answers 🙂 Now we proceed to Section 3, where a Community can ask their questions to the EPIC team Now I’ll open chat for the quite some time … Oleg✌🏻 Thank you all, dear community! EPIC team, please choose the 10 best questions you want to answer.
AngeI Everyone likes Privacy & Epic Cash provides their Best Privacy to users But, Which Technologies are being used by Epic Cash to make Blockchain very Private and Completely untrackable ?
Max Freeman | Epic Cash | Mimblewimble From the wallet to the node, Epic uses Dandelion++ to bounce transactions around the world before they go into the mempool for mining. Within the blockchain itself, Cut-Through merges all transactions in a block together, with CoinJoin automatically mixing all coins.
Beyond that, there are no addresses, so it’s impossible to watch someone’s wallet.
Arnold Even litecoin is implementing mimblewimble, Don’t you think it’s a significant threat for Epic if they implement it, then why would anyone use a less popular and a new cryptocurrency.
Max Freeman | Epic Cash | Mimblewimble LTC is implementing mw as an “extension block”, meaning that it is optional and not all transactions will use it. This is very different than the core protocol leveraging mw to make all transactions private and all coins fungible.
Aluta Why Epic cash so much focus on fungibility? Does fungibility matters that much?
Max Freeman | Epic Cash | Mimblewimble Fungibility is going to be one of the key issues within the cryptocurrency space in the coming years. Today, if you accept traceable coins from a seller, you are liable if they have ever been used in any illegal activity. This has led to a two tier market where freshly minted coins sell for more than circulated coins. When coins are fungible, like Epic, you don’t have to worry that you will run into a problem when an exchange or merchant blocks your transaction.
Joxes It is a pleasure.
When I first researched EpicCash, google showed me a youtube video that talked about how to mine with EpicCash. It made me ask: is this mining activity profitable so far?
We are in the early stages of development I guess, what adoption strategies are you taking to have sustained growth? is it feasible to reach N ° 500 rank in coinmarketcap in the medium term?
Yoga Dude When I got into crypto, it was by mining Bitcoin back in 2011 when you could still solve blocks on a single computer, but Bitcoin at the time was anything but profitable 😄 Today Epic Cash is still new, still young, and still undervalued. I believe it is mining-worthy because of its potential, not because of today’s price. By allowing Epic Cash to be mined with GPU and CPU on gaming rigs, servers, and even laptops we offer maximum public participation in our project. More people involved in the project, the more evangelists there are. We empower people to mine Epic Cash and to promote it.
S.P.A.D.E What new features of Epic Cash provide that Grin or Beam does not offer. Why do we need Epic Cash?
Max Freeman | Epic Cash | Mimblewimble They are great coins, but there are some ways in which Epic improves. Epic has better tokenomics than Grin and a more sustainable model than Beam, that has a company behind it that needs to repay investors via its high dev tax. this article explains in more detail https://medium.com/@frodofreeman/overview-of-mimblewimble-cryptocurrencies-7c70be146f50
Sahil What’s the Minimum Hardware / setup Required for Mining of EPIC Cash coins? Is Mining Profitable and Can we Mine EPIC Cash coins at Home?
Max Freeman | Epic Cash | Mimblewimble It is possible to mine on an ordinary laptop or desktop from the last 5 years, sometimes older. Epic is open to everyone, and our friendly community is standing by to help you get started at t.me/epicminers
Erven James Sato “TOKEN BURN” is BENEFECIAL for any projects, in able to CONTROL THE NUMBER OF TOKEN CIRCULATION and TO PROVIDE GREATER INCENTIVES TO INVESTORS.
Does your GREAT PROJECT have plan about TOKEN BURN?
Xenolink For deflating projects It is beneficial to drive the demand / scarcity / and price up in a faster pace. Epic Cash is here for the organic long run not the short run. However when it comes to long term economics elastic supplies whether inflating or deflating will not be a solid long term economic model. This has been heavily discussed already with Bitcoins inelastic Fixed 21 million supply in the past. Having a fixed model demonstrates good long term economics without worrying about balancing a deflating/inflating model. Bitcoin is a perfect example of a 21 million inelastic fixed supply model that has been proving itself till today. Which is why we are also using the same fixed 21 million supply model. Epic Cash plans to have a solid organic long term future to bring free private fungible money and make this world a better place.
Red Z🔥🤙 No one predicted the COVID-19 pandemic while developing their business model. But the crisis and recession of the global economy is our present with you and it affects all sectors, including blockchain. Will you make or have already made changes to the project roadmap, tokenomics? Do you have a plan in case the situation does not improve in the coming months and will affect the crypto industry even more?
Yoga Dude One thing we have seen as the result of the COVID-19 is more governments are talking about moving to digital cash — digital dollar in USA, digital Lira in Turkey, etc… If in the past the idea of digital money was not graspable by some people, today its the governments that are educating the people for us about the value of digital currency… What is ironic, the governments, by printing money to solve the economic consequences of COVID-19 also educating the consumer about the true “value” of fiat… What we offer is a touch free, borderless, private, anonymous, fungible currency that can not be printed beyond the initial defined algo. We are more responsible than the printing presses of the governments 🤔
kunlefighter How does the Dandelion++ Protocol, Confidential Transactions (CT) and CoinJoin assist in protecting the privacy of individuals and their transactions on Epic Cash Blockchain?
Max Freeman | Epic Cash | Mimblewimble Dandelion++ bounces transactions around before committing them to the blockchain, making it impossible to determine where they originated from. Confidential Transactions means that all tx are private, you can’t tell anything about where the coins have been or who they belonged to. CoinJoin in essence melts down and re-mints each coin every time it is used, making it impossible to track their ownership or usage history. Epic provides comprehensive privacy to everyone, without the compromises that other pre-mimblewimble coins have.
Dr Mönica Hello sir @maxfreeman4 @Johnsstec @Yogadude
Thanks for the ama I notice that Epic Cash has 2 type of new algorithm, progPoW version 0.15.0 and randomX version 1.0.3 NOW , CAN you tell me why you choose these 2 algorithm???
Yoga Dude We went with RandomX because it is a solid and very popular CPU centric algo used by several coins — most recently Monero. Most miners today heavily favor ASICs or GPUs, leaving a lot of solid high end users in the dust unable to mine emerging cryptos. As far as ProgPow, again its an established algo for GPU miners, and thanks to many cryptos starting with Bitcoin/Monero/Ethe etc there is no shortage of GPU rigs out there :) plus again the casual user with a video gaming caliber card can get in on the action.
Oleg✌🏻 Perfect! It was a great AMA, but it is coming to an end, thanks to everyone who was with us. Thanks EPIC team for taking the time👏. I hope our projects will be able to collaborate even more closely in the future and achieve new successes. Cheers!🎉
submitted by EpicCashFrodo to epiccash [link] [comments]

I'm Mark Karpelès, ex-CEO of bankrupt MtGox. Ask me anything.

Dear community,
Many of you know or remember me, especially recently since the MtGox bankruptcy has been allegedly linked with Bitcoin price drops in December 2017 to February 2018. Since taking over the most active Bitcoin exchange in 2011, I ran MtGox until filing for civil rehabilitation on February 28th 2014 (which became bankruptcy less than 2 months later) because a large amount of Bitcoins went missing. Since then, four years have passed, and MtGox is still in bankruptcy today. I’ve been arrested, released under bail after a little less than one year, and am now trying to assist MtGox getting into civil rehabilitation.
I did my best trying to grow the ecosystem by running the biggest exchange at the time. It had big problems but still managed to hang in there. For a while. A quite long while, even, while the rest of the ecosystem caught up. At the end of the day, the methods I chose to try to get MtGox out of its trouble ended up being insufficient, insufficiently executed, or plain wrong.
I know I didn't handle the last, stressful days of the outdrawn and painful Gox collapse very well. I can only be humble about that in hindsight. Once again, I’m sorry.
Japanese bankruptcy law has a particularly nasty outcome here, and I want to address this up front. As creditors claims were registered, those claims were registered in the valuation of Japanese Yen on the bankruptcy date. That's the only way Japanese bankruptcy law can work (most bankruptcy laws around the world operate this way for that matter). This means that the claims can be paid back in full, and there will still be over 160,000 bitcoin and bitcoin cash in assets in the Gox estate. The way bankruptcy law works is that if there are any assets remaining after the creditors have been paid in full, then those assets are distributed to shareholders as part of the liquidation.
That's the only way any bankruptcy law can reasonably work. And yet, in this case, it produces an egregiously distasteful outcome in that the shareholders of MtGox would walk away with the value of over 160,000 bitcoin as a result of what happened.
I don't want this. I don't want this billion dollars. From day one I never expected to receive anything from this bankruptcy. The fact that today this is a possibility is an aberration and I believe it is my responsibility to make sure it doesn’t happen. One of the ways to do this would be civil rehabilitation, and as it seems most creditors agree with this, I am doing my best to help make it happen. I do not want to become instantly rich. I do not ask for forgiveness. I just want to see this end as soon as possible with everyone receiving their share of what they had on MtGox so everyone, myself included, can get some closure.
I’m an engineer at heart. I want to build things. I like seeing what I build being useful, and people being happy using what I build. My drive, from day one, has been to push the limits of what is technically possible, and this is the main reason I liked and have been involved with Bitcoin in the first place. When I took over MtGox, I never imagined things would end this way and I am forever sorry for everything that’s taken place and all the effect it had on everyone involved.
Hopefully, I can make what I’ve learned in this experience useful to the community as a whole, so there can at least be something positive in the end.
Ask me anything you like.
EDIT: With this coming to all there have been an overwhelming number of messages, questions etc. I will continue responding for a little while but probably won't be able to respond to new questions (it is starting to be late here and I've been spending the last few hours typing). Thank you very much to everyone.
submitted by MagicalTux to Bitcoin [link] [comments]

100 Trillion Dollar Bitcoin Catalyst - YouTube WARNING: The Truth About Bitcoin - YouTube Bitcoin Crash : Crypto Crash Explained  DON'T PANIC What drives the value of Bitcoin Bitcoin Price Dropping! Bitcoin Holders DO NOT Make a Move Before Watching This!

Bitcoin history for 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019. Bitcoin price chart since 2009 to 2019. The historical data and rates of BTC ... The value of virtual currency Bitcoin drops sharply after one of the largest trading exchanges says it is still having technical issues. With bitcoin sitting at around $14,000 at the time of writing experts are racking their brains trying to figure out when this bubble will end or if it even is a bubble at all.. Measuring Value with MV = PT If it is a bubble, however, even the experts are wary about expecting it to pop anytime soon. Bitcoin’s 46 percent decline in the value since its December peak hasn’t damped a surge in prices for Internet domain names related to the virtual currency. Bitcoin, which quickly recovered from the blow and rose above $ 1,000 in November, was facing another test – at the end of 2013, the People’s Bank of China banned BTC transactions for financial institutions, which led to a natural drop in the price of cryptocurrency, which amounted to more than $300 in a few days. Thanks to the Chinese ban, Bitcoin ended 2013 at $840.

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100 Trillion Dollar Bitcoin Catalyst - YouTube

Bitcoin is an asset that stands alone. Chamath Palihapitiya, former Facebook exec and Chairman of Virgin Galactic, drops some MAJOR perspective on Bitcoin’s value as a totally uncorrelated asset ... Lets talk about Bitcoin and what I THINK caused the recent jump in price - enjoy! Add me on Instagram: GPStephan The YouTube Creator Academy: Learn EXACTLY h... Bitcoin - 100 Trillion Dollar Catalyst. I talk about how Bitcoin will eventually reach a market cap of 100 trillion dollars and the unexpected catalyst which... MIT Bitcoin Expo was held on May 3rd, 2014, with speakers from the Bitcoin Foundation, Circle Internet Financial, Armory Technologies, and more. See more at ... 0:01 Bitcoin Crash 0:03 Crypto Crash 0:05 Bitcoin Is Crashing 0:10 How Low Will Bitcoin Go 0:30 Bitcoin Bubble Pop 0:42 Bitcoin Price Drop 1:16 Bitcoin Crashing 2:19 Bitcoin 2:25 Bitcoin Crash ...

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