I quit my job and today was my last day. This was made possible in part by Ethereum. I first bought Ether at 10 dollars back in January after hearing an interview with Vitalik. It sounded like a neat techonlogy and I thought maybe in 5 years I would see some returns. I had no idea what was about to happen. Fast forward 9 months and all I can say is it's been a hell of a ride. For my fellow Ethtraders, here a few lessons I've learned - usually the hard way - along the ride so far... 1) You, me, Jamie Dimon, Mike Novogratz, ScienceGuy9489 and even Vitalik have no fricking idea what's gonna happen. He's said so himself. Ethereum could shoot up to 750 tomorrow and then fall to 75 the next day. Or it could lurk around 300 for the next two years before exploding to 3000. Who knows! If you have conviction in the technology invest what you are willing to lose and don't get hung up on the day to day movement. It's just noise. 2) This has been said a million times, but for good reason: Don't invest more than you're willing to lose. For most people, this means no more than 10-20% of your money. This really goes for any asset class, even cash since there's inflation risk - but especially crypto. Ideally, in addition to crypto your money is diversified among a variety of asset classes like fiat, stocks, bonds, gold, etc. 3) Never, ever buy or sell on emotion. As a rule, if you feel like you have to buy or sell right away, then you don't. Sure, you might luck out once or twice doing so, but this is called gambling, not trading. Being impulsive will ultimately screw you over. Our brains are running on millennia old legacy software designed to run away from threats e.g., panic sell, to follow the herd e.g., fomo buy, and in general to survive, not to be rational. When big dollar signs are flashing around, our lizard brains think it's life or death and all reason goes out the window. This is why the vast majority of traders, even professionals, lose money. Of course in a bull market everyone is a genius. So it's easy to kid yourself, but you're probably not a great trader. I know I'm not. I've read books on trading, and I'm not a total idiot, but the fact is I would be sitting on a lot more Ether right now if I had just bought and held rather than getting all fancy. There are a few folks who have zen-like discipline or years of experience, but for the rest of us, short-term trading is a losing game. That said, you can treat a small portion of your holdings as play money that you daytrade. Just don't be surprised if it's gone next week. 4) Don't be a maximalist. God knows I was when I first arrived here. I thought Bitcoin was Myspace and Ethereum was Facebook. I came to realize Bitcoin and Ethereum are not competitors; they are trying to do different things. The world needs both gold and oil. 5) This may sound blasphemous, but don't be absolutist about HODL-ing. For most, I think it's wise to take some profits as it goes up by selling a small to moderate portion of your holdings. Then, if/when it majorly corrects you won't freak out and panic sell. Instead, you can buy some back at a lower price. And if it doesn't correct, you'll still walk away with some profit and peace of mind. Now, if you are very patient and don't need to take profits it's fine to 100% HODL if you are truly able to stick with it. Just be honest with yourself. There are a lot of fair-weather 'hodlers' here who hit the sell button whenever there's a major pullback. It's better, not to mention a hell of a lot easier to sell when it's pumping up than when it's plummeting. 6) It's human nature to never be satisfied. No matter how low you bought, you'll wish you had bought lower or bought more. Or you're gonna kick yourself for not selling at a peak. Remember, most people in this world still have no idea what Ethereum is and even if they do, they do not see its potential like you and me. We're early to the party. 7) Keep your life in balance. This is more important than all the above combined. Sure, it's fine to go through a phase where this consumes your life, but if you spend all day and night staring at red and green on GDAX your health and happiness will suffer. Trust me, I've been there. Trading is already addictive but throw in a 24/7 market that never sleeps with bewildering volatility and you have the perfect recipe for sleep deprivation, anxiety, and manic ups and downs. If you're overly obsessed with checking prices, try either setting ground rules (what I do is that I only check prices between 10am and 10pm) or step away completely for a few days or a week. I've done this a few times and I always return to the markets with renewed energy and perspective. Money is important but once you have enough to get by, it's far less so than friends, family, health, and finding meaningful things to do in life. Remember guys, love over lambos, balance over Binance, and bros over blockfolios.. okay that last one was a stretch.. Finally, it's been said before, but that's because it's the truth: the joy is in the journey. Everything in this world is temporary. Whether Ethereum faces some existential threat and gets wiped out tomorrow or goes on to revolutionize human civilization for centuries to come, someday something else will come along and replace it. Likewise, your stash may someday be worth zero or a million. But either way you will have won the bigger game in town if you enjoyed the ride and learned a few things along the way. Stay safe, stay hungry, and enjoy the ride! Note: Thank you guys for all the replies and encouragement, it means a lot. I had no idea this post would blow up like this. In hindsight, I wish I had titled this post something different and put less emphasis on the quitting job part because that's not what this post is really about. I realized from the responses that the post gives the impression that I am retiring for the rest of my life and intend to never work again. This is definitely not the case! Ethereum simply expedited me getting out of a job situation that I wanted out on anyway and has afforded me some more flexibility and freedom in the short to medium term. While I'm taking a bit of the break from the grind right now, I'll be pursuing work a bit down the line both for financial reasons and because it's part of a meaningful life
Hello Everyone, I know I had mentioned earlier that I would be doing these reports weekly, however, I had mentioned if there was a slew of information, that I would do an impromptu post just so things dont get stretched too far apart or some news is lost. That being said, I have decided to do an early post for now and will do a recap on Sunday to include any other news that comes up! Before reading the latest news, check out my previous three recaps which are quite full of information. They can be found here:
Please note, any comments I make about news events are of my own personal opinion. As always, I recommend every person to do their own due diligence and research each event when they find the chance! So lets get to it! (news is in no particular order)
A lot of people have been posting saying their funds 'disappeared' from their wallets, this is not the case. The NEON wallet has released the 0.0.5 version. PLEASE UPGRADE to this latest version as the older versions have been phased out and may show a balance of 0 and will not let you claim gas! The link to the wallet is https://github.com/CityOfZion/neon-wallet/releases This wallet has encrypted keys which a big step up in security.
NEO London Meetup on September 27th! ( https://www.meetup.com/London-NEO-Meetup/events/242798070/ ). This is a great initiative to begin development on the NEO platform and I hope things go very smoothly. Please do note that this event will not have any talks or core developers from the NEO team present, it is a community organized and run event!
Poloniex has listed GAS/BTC and GAS/ETH markets.https://twitter.com/Poloniex/status/908401865653735425 . It is really interesting that GAS was added before NEO was. As I always say, being added to new exchanges is great for liquidity as the coin is less susceptible to manipulation. There a rumors that this is just the first step and that NEO will be added soon. As far as I know, there is no proof of this and is still a rumor.
Korea. Speaking of being added to exchanges, the same rumor I mentioned last article of NEO being added to Korean exchanges is circulating with even more force. As I mentioned, there is NO PROOF of this, and should be treated as a rumor.
Da Hongfei interviewed on CNBC South Africa! There was some great discussion and Da cleared up a lot of misinformation about NEO, what the purpose of NEO is, and how it works. Please try to watch the interview if you can (am still searching for a link to the video) but in the meantime, check out this for some information: https://mobile.twitter.com/deenyotweets/status/908401724049817606 . What I really enjoyed about this interview is the clarification on digital identity being crucial to NEO's compliance with regulations and its use for REAL ECONOMIES to use NEO as well as the clarification that NEO is not a platform that solely will be used for ICOs.
Jamie Dimon, CEO of JP Morgan, stated that bitcoin is 'fraud' and that it won't last. Lets all just remember that this is one man's opinion, and that there are many others such as John McAfee who believe in bitcoin. Also, lets not forget that JP Morgan is part of the EEA. Honestly, I personally do not know why people went crazy after hearing this. To me it means nothing, just FUD.
On September 14th, INNO x Austrade China-Australia chain high-end exchange will be successfully held. Activities, the core members of the NEO Council, also to cloud founder Chen Rong and a number of Chinese block chain experts invited to attend the exchange. And the Australian delegation ADCA (Australian E-Commerce Association), the Australian Bureau of Standards, the University of Science and Technology, Sydney and many other block-chain project experts on the block chain in the global development of the exchange of seminars.
As important news on February 25 at 2:00 PM (UTC) will be the sale of chips Fetch.Al (FET) in Launchpad of Binance. A total of 1,152,997,575 FETs will be offered, each chip will have a value of 0.0867 USD, the prices in BNB will be fixed on the day of the sale, the format will be based on “First come first, served basis”, to participle people must already have verified their account and accepted the conditions to participate in this sale; since the Fetch.AL will not be responsible for any investment, all are under the user's own risk. Users from the following countries will not be able to participate in token sales on the Binance Launchpad platform: Afghanistan,Albania,Belarus,Bosnia & Herzegovina,Burundi,Central African Republic,China,Cote dIvoire,Cuba,Democratic Republic of the Congo, Ethiopia, Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Liberia, Libya, Malaysia, Myanmar, North Korea, Republic of Macedonia, Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Thailand, Trinidad & Tobago, Tunisia, Uganda, Ukraine, United States, Venezuela, Yemen, Zimbabwe. It is important to stand out that the global cryptocurrency platform that provides a place for the trade of more than 100 cryptocurrencies, Binance, has decided to withdraw certain digital assets that do not meet certain parameters; these are CloakCoin (CLOAK), Modum (MOD), SAL (SAL), Substrate (SUB), Wings (wings). The coins and chips will stop trading on February 22 at 10:00 AM UTC any commercial order after the stipulated date will be eliminated. The platform has indicated that this action is due to breach of its parameters. And another one who bet on the cryptocurrency economy; on Thursday, February 14, the banking institution JP Morgan Chase, one of the largest banks in the world, announced the launch of its own cryptocurrency that will be known as the JPM Coin. This project will start its tests with a small number of institutional clients, once the results are satisfactory by the end of this 2019, it will be open to the public. This cryptocurrency will serve to make international payments between clients, it will not be money, it will only serve as a representation of the amount of money that a certain account has in the JP Mongar Chase bank. The head of the project, Umar Farooq, also announced that the cryptocurrency will be in all standard platforms. This action has baffled those who remember the statements of the bank's CEO, Jamie Dimon, who declared a few years ago that he did not understand how people gave value to something that has no value. To close with good numbers, as we know more and more people who dare and trust the Bitcoin economy, according to the figures of Kaspersky Labs, there is a 700% increase in the adoption of Bitcoin in the last 6 years. There are more and more businesses that accept payments in Bitcoin as transactions, and an approximate of 13% of the world population has used Bitcoin as payment method; this survey of Kaspershy Labs was conducted with more than 13,000 consumers from 22 countries where we can see that the countries with the highest inflation are those that have resorted most to this method of commercial exchange. These numbers are encouraging for a market that has struggled to gain the confidence of people, and despite the fall in their prices there are still people who bet because it can be a strong economy in the future, according to Coinmap data indicate that the acceptance increased by 70% in relation to December 2013.
BINANCE ARGUES JPMORGAN’S DUBIOUS CRYPTO PROJECT WILL SPUR REAL ADOPTION
In a new article from Binance Research, one of the world’s largest cryptocurrency exchanges deems JPM Coin a “stepping stone” toward mass adoption. By exposing large clients to a private blockchain structure, JPMorgan will indirectly increase interest in the wider crypto industry.
“The rise of this third generation of stablecoins may only be an intermediate stepping stone for cryptocurrency mass adoption. Stablecoins running on private blockchains will contribute to increasing awareness of the rest of the blockchain and cryptoasset industry in the long run.”
The question they set out to answer, whether or not JPM Coin can disrupt the stablecoin market, comes back as “very unlikely.”
“It is very unlikely that JPM Coin will disrupt the existing stablecoin industry in the near term owing to its permissioned, private nature. Currently, stablecoins issued by banks are designated to serve a specific purpose and as a result, do not directly compete with the existing stablecoins.”
WILL JPM COIN BE MADE AVAILABLE TO REGULAR CHASE USERS?
“JPMorgan Coin could be internal, could be commercial, it could one day be consumer.”
However, as CCN’s Josiah Wilmoth noted, the JPM Coin website specifically states they have no existing intention to issue it to the public. The token is currently unavailable to everyday consumers. JPM Coin reminds one of “E Coin” from USA’s “Mr. Robot” series. The “cryptocurrency” was used as a means to settle transactions within the bank’s massive holdings. Binance also concludes in agreement with Ripple Labs CEO Brad Garlinghouse: Ripple and JPM Coin are not currently in a competitive state:
“Overall, the two projects appear to have different focuses and potential applications in the short term. While there is currently no direct overlap on the functionality of the two initiatives, future developments on the reach of JPM Coin outside of its existing closed network will determine to what degree Ripple and JPM Coin will compete.”
If we categorize JPM Coin as a stablecoin, it takes very little effort for it to be the largest. As Binance writes:
“Based on J.P. Morgan’s position as one of the world’s largest banks, even a small portion of total assets locked as fiat collateral for JPM Coin could make the institution the largest stablecoin issuer on a blockchain measured by circulating supply and total market cap.”
JPMorgan moves up to $6 trillion in assets daily. The total market capitalization for all stablecoins is well under $3 billion. If JPM Coin represents just 1% of JPMorgan’s daily average, it more than doubles the market. But it’s not a stablecoin in the same respect that Tether or TrueUSD are. It’s not available to traders all over the world, nor even people outside of JPMorgan’s top client list. It’s not something you can take and redeem for Bitcoin. It, therefore, has no actual net effect on the stablecoin market. The purpose that existing stablecoins serve is not affected by the issuance of JPM Coin. Original from: https://www.ccn.com/binance-jpmorgan-token-a-step-to-crypto-adoption
Since 2016, crypto-exchanges in South Korea have been hacked 7 times, with hackers stealing $99 million. Learn more and discover other news of the crypto market in the analytical report of the Golden Island private club.
We present to you a report filed by our analysts for October 8–14. The main market events on October 8–14, 2018
IBM food trust blockchain platform has been launched. Tech giant IBM announced the start of a commercial use of the IBM Food Trust blockchain platform based on the Hyperledger Fabric protocol. The platform will monitor the supply chains in the food industry. The European retail giant Carrefour, which operates 12,000 stores in 33 countries, has already joined the network.
The blockchain research lab at the China Electronics Standardization Institute is developing three blockchain standards for smart contracts, privacy and deposits that could be used in international practice.
Bitfinex denied rumors of insolvency and published links to cold wallets, which hold nearly $1 billion in bitcoins, $400 million on the ether and $200 million in EOS.
Binance will now spend all listing fees on charity. The amount of donations is up to the project.
Since 2016, crypto-exchanges in South Korea have been hacked 7 times, with hackers stealing $99 million. From 2015 to 2018, personal crypto wallets were hacked 158 times, but only in six cases hackers were caught, according to South Korean police.
For the first time, the Swiss Financial Market Supervisory Authority issued a license for managing crypto assets, which effectively grants the company the status of a traditional bank. The license was issued to Crypto Finance Group.
By the end of this year, the European Securities and Markets Authority will prepare a report stating its position on the regulation of token sales. At the same time, the ICO activity dropped by 90%, according to Autonomous Research report. This September, token sales raised $300 million, and this January — $2.4 billion.
In the next 5 years, the Central Bank of Azerbaijan, together with IBM, will introduce the blockchain into the wired payment system of the country and create a digital identification system.
Roger Ver said he was looking for a partner to launch his own crypto-exchange. He may also purchase a ready-made platform. Bitcoin Cash will be the main currency on the new exchange.
Google believes that the main critics of Bitcoin — Warren Buffett, Jamie Dimon and Roger Ver — are the CEOs of Bitcoin. If you google “bitcoin ceo”, a search engine will show Bitcoin’s so-called CEOs — head of JPMorgan Chase Jamie Dimon, head of Berkshire Hathaway Warren Buffet and one of the main evangelists of Bitcoin Cash and Bitcoin.Com CEO Roger Vera.
The People’s Bank of China believes that the stablecoins tied to the US dollar have a bad effect on the currencies of other countries. The bank urges to issue stablecoins tied to the yuan :-D
MasterCard files a patent for a blockchain system designed to store different currencies on the same platform by generating blocks for an exclusive network. This network stores different types of data in different blocks.
The US government imposed additional sanctions on Venezuela because of its national cryptocurrency. The developers of El Petro consider this free advertising.
Coinbase aims to enter the Japanese market next year. The company is already negotiating the license matters with the Japan Financial Services Agency.
In November, South Korea might lift the ban on ICO. This will be discussed at a meeting of the country’s regulators, where they will review the results of the September ICO study and pass a decision.
The first ever phone call through the blockchain was made from the Pundi X startup device called XPhone. The phone runs on Android and allows the user to exchange calls, messages and files.
The Singapore-based BK Global Consortium, which provides services in the field of surgery, bought 38% of the Bithumb stock exchange for 400 billion won ($350 million), making it the largest shareholder of the stock exchange.
Starting from 2019, the UAE companies will be able to officially launch ICO to raise capital. The Securities and Commodity Board will now treat crowdsales as the issue of securities.
The international payment systems (MPS) will take more stringent measures against cryptocurrencies: MasterCard will ban them starting on Monday, Visa — in December.
The new Minister of Science and Technology of Japan promotes active introduction of blockchain technologies.
As part of the emCash cryptocurrency launch campaign in Dubai, the payment startup Pundi X has made an agreement with emCredit — the credit department of the Dubai Ministry of Economic Development. This was shared in the company’s blog.
Market analytics from experts of the club for October 8–14, 2018
The last week was controversial. On the one hand, everything went according to plan: the price of BTC was growing very slowly, the altcoins skyrocketed, on the other hand, it was clear to everybody this could not last for a long time. In the middle of the week, the expectations became reality — BTC lost about $300 in price within an hour. This time, the total cap failed to observe the periodicity — it dropped by $17 billion on Thursday and remained at this level until the end of the week. Thus, $219 billion on Monday turned into $202 billion by the end of the week. Trading volumes were not particularly surprising: $12 billion on Monday, $16 billion on Thursday and $9 billion on Sunday. BTC dominated the market at 52–53% and up to 57% in the days of decline, followed by a reversal. The price for 1 BTC, as already mentioned, fell from $6,600 to $6,270 in the middle of the week, and recovered a bit to $6,330 at the end of the week ($6332 at the time of the report). There were no critical news, no far-fetched correlations with stock markets, and no fundamental reasons for such a decline. Most traders were happy with the current situation — the “pumps” of coins occurred every day. Top 10 coins showed complete correlation with the BTC price. In addition, intra-team and intra-project relations in the crypto-societies have strained, which was followed by a number of break-ups and heated public debates. There is a high chance that tycoons and market makers are trying to impose a thought that cryptocurrencies have no future. The advice is simple — to keep and purchase more strong coins, get rid of the weak ones and keep calm. The big gains are right round the corner!
Changes in the cost and capitalization of the TOP-10 cryptocurrencies in the period of October 8–14, 2018
TOP-3 growing coins from the long-term portfolio for October 8–14, 2018 (including portfolio updates) The fastest-growing coins during the last week are WaBi coins + 42% (a number of articles and ensuing pumps), IOTEX IOTX + 35% (partnerships), QuarkChain QRC + 20% (meetups and events in social networks)
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Is Bitcoin really 'useless' if it cannot be used for everyday transactions or can Ethereum and Bitcoin thrive together?
Hi ethtrader - I just posted this article on Bitcoin, where it really belongs. But since the discussions are normally no match for the ones found on here, I would like to get your guys opinion on this. FYI: I hold more Ethereum than Bitcoin, but am still a strong believer in both. I don't see why they can't lead this industry together, as they have different use cases. There are so many articles floating around the web about the advantages of Bitcoin, but I feel a large majority of them miss a vital point on why Bitcoin could be this revolutionary asset-class that completely changes the way the average person stores money, especially in Africa and Asia. The recent crazy rise of altcoins has lead to many doubting or hoping for Bitcoin to lose its spot as number one. Considering how long Bitcoin has been around, what it has survived and the recognition it has, I feel so much of this ‘new money’ still don’t believe Bitcoin is here to stay. Many are under the impression that if Bitcoin can’t be used for everyday transactions, it is or will be useless. I am here to argue otherwise. Satoshi's Vision Yes, the original vision of Satoshi Nakamoto was that Bitcoin became a peer-to-peer currency, though in the meantime the network has grown so large that transactions can take up to hours during peak times and average fees can range from anything between $3 and $20. These factors severely limit Bitcoin being used as a currency for everyday transactions. Maybe they can be fixed, but what if we look at Bitcoin more as ‘digital gold’, or as I like to call it an inflationary safe-haven asset. In this post I am going to explore the advantages of Bitcoin as an asset-class over traditional asset-classes, such as stocks, funds, gold etc. and why I believe it won’t so easily be dethroned as many like to claim. As you may have heard over the past few months, Bitcoin has been extremely successful in Venezuela. Their president, or shall I say ‘dictator’, Nicolas Maduro is committing crimes against his people and destroying the economy in a similar way to what Mugabe did with Zimbabwe 35 years ago. This has lead to the Venezuelan bolivar depreciating significantly, since August 2016 it has lost over 95% of its value. Therefore it is no surprise that people are turning to Bitcoin. But why choose Bitcoin over traditional asset-classes, such as stocks, gold or the Swiss Franc? Ease of Access Some most likely believe in the underlying technology, others foresee its growth continuing, but most likely a large portion purchase it because of ease of access to a ‘safe-haven asset’. Many people in these third or even second world countries do not have access to the banking services readily available to many of us in the West. In order to buy stocks, gold or fiat currency a minimum capital requirement is needed, with Bitcoin you can purchase almost any amount you wish. Even if Bitcoin is worth $1 Million one day, you would still be able to purchase $1 worth. Now some will argue that traditional asset-classes are regulated, less risky and have far lower volatility than Bitcoin. At the moment I couldn’t agree more, but in the long term, once Bitcoin has really gone mainstream and this huge influx of money has slowed down, we will most likely see a far more stable Bitcoin. It seems the opening of futures trading has already managed to calm Bitcoin down, though this may just be temporary since the run over the last couple months was so unprecedented. Costs of holding Bitcoin In the developed world anyone with internet access can buy Bitcoin. In third world countries it is slightly more difficult to purchase cryptocurrencies and they therefore often trade at a premium. Commissions vary from 0.1%-1% dependent on country, with third world countries being at the upper end. This is still better than traditional asset-classes. Even the cheapest stockbroker sites charge $5+ per trade and an additional fee for outgoing transfers. Gold is even more expensive, as commissions vary between 1–2%, with an additional 1–2% in the form of an annual holding fee. For cryptocurrencies we will likely see a completely decentralised exchange, as Binance claims in their whitepaper. Fees will decrease with time and the availability to trade fiat for crypto-assets will increase. Once you have purchased Bitcoin there are no costs, as there are with traditional investments. No costs arise from just holding Bitcoin, you don’t pay a management fee and definitely no annual fee to the bank for holding your money, which they reinvest anyway to profit for themselves. No central authority or spokesperson This I believe is one of the greatest advantages of Bitcoin. It can be held for free and easily transferred to whomever you choose without having to use an intermediary. Now I am sure many of you are aware that this isn’t just unique to Bitcoin. But Bitcoin offers one unique characteristic that gives it a big advantage over its peers and that’s the fact that it has no central authority and no spokesperson. No person’s actions can directly affect Bitcoin in the long term, in the short term yes, we all saw what Jamie Dimon managed to do after his ridiculous comments back in October. Though Bitcoin recovered quickly and this time with a vengeance! The downturn because of this event is due to the people not being able to fully wrap their heads around the concept of Bitcoin, the public is not yet convinced that it is here to stick around. But as time progresses such comments will have less and less of an impact on the price. Now you can claim that having Vitalik Buterin as a spokesman is beneficial. Though, as much as I love him and think he is a genius, I am sure there are others out there who think he is too geeky or too young to be the CEO of a beast like Ethereum. Inevitably humans are also prone to making mistakes, as an example just look at how Roger Ver’s interviews can negatively and positively affect the price of Bitcoin Cash or how Donald Trump’s actions affect the Dollar. Therefore, by having a community calling the shots, with no one person as a focal point, you minimise these risks, whilst providing more stability. I am sure this is one of the reasons why Satoshi Nakamoto has not revealed himself. Trust Furthermore, the longer Bitcoin stays around, the more trust it gains and slowly but surely the number of critics sink, (and start offering their clients the option to purchase Bitcoin futures). Bitcoin has a massive first mover advantage and outside the realms of the cryptocurrency fanatics many will know what Bitcoin is over the word cryptocurrency. Some may have heard of Ethereum or Bitcoin Cash, but that’s normally as far as it goes. People are far more likely to trust something that has a proven track record, a name they have heard of multiple times through friends or the news, is often more appealing than something unknown. For example when purchasing a laptop are you going to buy a new make that claims to be better, faster and cheaper but has only been around for a few years, or go for a make that is well known and has a proven track record that it works. Now since most of you reading this are early adopters you may be more willing to take a risk and purchase a new make, but the large majority are going to go for a Dell, HP, Apple, Acer etc. Unfortunately, we have this herd mentality ingrained into us and most tend to follow the accepted trends, through which we minimise our risks. Problems that probably need addressing There are currently some disadvantages to Bitcoin that need to be addressed, such as the slow transaction times and high fees, but I do not see these being a big hindrance to Bitcoin becoming a so-called safe-haven asset in the long term. With time I am confident these issues will be addressed, though even with them, Bitcoin still offers more advantages over the traditional monetary system than disadvantages. It has no minimum capital requirement, no upkeep fee, low commissions and is in theory deflationary. The slow transaction times and high costs in comparison to other cryptocurrencies may even incentivise people to hold it for a longer period of time, thus giving it stability. I strongly believe if people can easily and for a low cost store their money in an asset that is relatively stable we will see a big change in the current banking system. If you have a phone and a data plan, Bitcoin is utilisable. And already, smartphones are in nearly every pocket, even in Africa, and a worldwide internet might already be on the horizon. 2 billion people around the world are still unbanked and if Bitcoin and cryptocurrencies in general can gain the trust of the people, just maybe we will see these 2 billion leapfrog the traditional banking system, just like many parts of the world leapfrogged landlines and went straight to cellular networks. But, but Bitcoin Cash? I have left Bitcoin Cash out on purpose, as it will very likely be far more volatile than Bitcoin for the foreseeable future. It is far too new to be mentioned as the ‘new Bitcoin’, the only reason it's successful is because it was a fork and has the Bitcoin brand name. At the moment it is still inferior to many coins out there and only processes a fraction of the number of transactions in comparison to Litecoin. Only recently did the number of Bitcoin Cash transactions surpass those of the infamous Dogecoin, according to bitinfocharts.com that is. This recent price spike looks artificial and I believe large quantities are locked up by whales, who in turn started the pump. It was no surprise to me that the Bitcoin.com co-founder came out and claimed to have dumped Bitcoin. After all, Roger Ver is the owner of Bitcoin.com, that should make his motives pretty clear. I am just putting my opinion out there, again not hating on Ethereum, just want to know what your guys opinion on this is. If you think this article deserves some more exposure, please head over to Medium and SLAP that clap button, or hold it down. Helps a lot with exposure: https://medium.com/@bendylan_93514/is-bitcoin-useless-if-it-cannot-be-used-for-everyday-transactions-81273d6b3287
“Bitcoin enables certain uses that are very unique. I think it offers possibilities that no other currency allows. For example the ability to spend a coin that only occurs when two separate parties agree to spend the coin; with a third party that couldn’t run away with the coin itself.” – Pieter Wui (66 points, 14 comments)
CEO sàn Binance: Warren Buffett chẳng hiểu gì về tiền điện tử!!
📷 Giám đốc điều hành Binance Zhao Changpeng đã nói rằng Warren Buffett "chẳng hiểu tiền điện tử" và rằng ông đang mắc "một sai lầm lớn".
"Mắc một sai lầm lớn"
Trong bình luận ngắn gọn với Bloomberg TV, Giám đốc sàn giao dịch Hồng Kông đã phản đối lời cảnh báo của Buffett về tiền điện tử trong tuần này, khi ông dự đoán rằng tất cả sẽ "kết thúc không tốt đẹp gì".
"Tôi nghĩ ông ấy biết đầu tư chứng khoán và đầu tư vốn cổ phần rất tốt, nhưng tôi không nghĩ rằng ông ấy hiểu về tiền điện tử", Zhao cho biết.
"Đó là những gì tôi vẫn tôn trọng [...] những phần khác của chuyên môn của ông ấy, nhưng tôi nghĩ về tiền điện tử, ông đã phạm một sai lầm lớn."
Buffett là một người nổi tiếng không ủng hộ Bitcoin, khi tuyên bố rằng ông và đế chế kinh doanh của ông đã thông qua một cách tiếp cận hoàn toàn rảnh tay, và "sẽ không bao giờ có một vị trí" trong giới tiền tệ mã hóa. Sự chỉ trích của ông ngày càng gia tăng trái ngược với các tập đoàn tài chính khổng lồ khác, thậm chí cả giám đốc điều hành JPMorgan Jamie Dimon luôn hoài nghi về Bitcoin, trong tuần này đã nói rằng ông "hối hận" khi đã gọi Bitcoin là "trò lừa đảo" vào năm ngoái.
Buffett xác nhận: "Tôi không biết cái gì cả"
Một chút trớ trêu thay, Buffett và Zhao đã đồng ý với nhau, đặc biệt là với sự thiếu kiến thức của Buffett về tiền điện tử.
"Tôi gặp rắc rối với những điều mà tôi nghĩ là tôi biết." Ông nói tiếp. "Tại sao trong thế giới, tôi phải mua hay bán với một cái mà tôi không biết gì về nó?"
📷 Nói về sự từ chối người mua của Zhao trên Binance, tuy chỉ mới đủ 5 tháng, sàn giao dịch đã có rất nhiều người dùng, nên đã buộc hệ thống phải hạn chế đăng ký mới để đáp ứng nhu cầu kỹ thuật.
"Để đảm bảo hiệu suất cho người dùng hiện tại của chúng tôi, chỉ một số lượng hạn chế đăng ký mới mới được phép mỗi ngày. Thời gian mở cửa đăng ký sẽ thay đổi theo từng ngày, mà không có thông báo trước," sàn giao dịch đã viết trong một bài đăng blog ngày 8 tháng 1 sau khi tạm dừng đăng ký hoàn toàn.
Ngày hôm đó, Binance đã chứng kiến 240.000 hồ sơ đăng kí mới chỉ trong một giờ.
"Thành thật mà nói, chúng tôi không mong đợi sự phát triển như thế này". Zhao cho biết thêm với Bloomberg.
An exhaustive email explaining NYC "roadmap" to the 'hype and scam' crowd. PLEASE READ. (31 points, 59 comments)
1,000,000 NYC BOUNTIES for every new retail/storefront business YOU get to accept NewYorkCoin in New York City. Business owner downloads Coinomi Wallet (beta) from link at newyorkcoin.net and prints their QR code for customers to pay! Business owner receives 1,000,000 NYC too! (27 points, 11 comments)
Gila's Nosh | 23rd Street NOW ACCEPTS NYC! (24 points, 7 comments)
LEASE NEGOTIATIONS IN PROCESS FOR AN AMAZING GALLERY SPACE IN LOWER EAST SIDE, MANHATTAN! THE NEW YORK COIN CENTER WILL BE OPENING SOON IN MANHATTAN. (24 points, 18 comments)
Only way NYC will go big is if we as a community come together and make it big. It’s not magic, we are investors and it is our duty to help this coin grow so developers have enough resources to further the project. (18 points, 9 comments)
More exchanges is the solution (14 points, 6 comments)
Dallas Mavericks announced they will accept Cryptocurrency next season.. (13 points, 3 comments)
NYC (24hr) trading volume passing $1m!!! Coinmarketcap is fixing bug that is stopping updating of volume. All markets offline at coinmarketcap. NYC TRADING VOLUME IS EXPLODING!!! (10 points, 4 comments)
1,000,000 NYC BOUNTIES for every new retail/storefront business YOU get to accept NewYorkCoin in New York City. Business owner downloads Coinomi Wallet (beta) from link at newyorkcoin.net and prints their QR code for customers to pay! Business owner receives 1,000,000 NYC too! by hivewalletvictim (27 points, 11 comments)
Who is applying and sending in the info the exchanges require to get added ? Ill do it and pay the fees they require if someone will give me permission and materials I request. I’ll pay the fees as well they range $5000 to 20,000. Exchanges want money it’s that simple. by earthfunds (26 points, 10 comments)
JP Morgan CEO Jamie Dimon is back in the Satoshi spotlight. Speaking during an appearance on CNBC’s coverage of the World Economic Forum meetings in Davos last month, Mr. Dimon once again pronounced his lack of faith in Bitcoin.. Also read: Supreme Court Justice Antonin Scalia Deat at age 79 Jamie Dimon: Bitcoin Going Nowhere “Bitcoin the currency, I think, is going to go nowhere,” Dimon ... Mit seinen jüngsten Äußerungen scheint dem geläuterten Jamie Dimon derweil die Kehrtwende geglückt. Bis vor kurzem galt der 62 -Jährige als überzeugter Krypto-Skeptiker. In der Hochphase des weltweiten Bitcoin-Booms im September 2017 etwa hatte er den Krypto-Wegbereiter noch als „Betrug“ bezeichnet und diesem ein baldiges Ende ... Big banks are predicting a major recession, the deepest one in the post-war era. JPMorgan Chase CEO Jamie Dimon said his bank cannot be immune to the resulting financial stress while Bank of ... Vor wenigen Jahren galten JPMorgan Chase und Jamie Dimon, der langjährige CEO des Finanz-Konzerns, noch als Krypto-Gegner, zumal der Bankenchef Bitcoin im Dezember 2017 als Betrugskonzept brandmarkte. Doch das Unternehmen hat sich als lernfähig erwiesen und 2019 mit dem JMP Coin eine Art eigene Kryptowährung gestartet, auch wenn diese natürlich nicht so frei und allgemein nutzbar ist wie ... There are various prominent individuals who loathe bitcoin and have been publicly vocal about it in the past. One such person is the CEO of JP Morgan Chase, Jamie Dimon.The BTC price bubble has burst but he is strangely not celebrating it after calling the largest cryptocurrency a fraud in the past. Dimon still maintains that the emphasis in the financial sector should remain on the blockchain, rather than Bitcoin which he maintains, he has unintentionally become the spokesperson against, arguing, “I didn’t want to be the spokesperson against Bitcoin. I just don’t give a ….., that’s the point…Blockchain is real, it’s a technology, but Bitcoin isn’t the same as a fiat ... Jamie Dimon, the CEO of one of the largest banks in the world, JP Morgan, has said Facebook’s proposed cryptocurrency Libra is a “neat idea” that will “never happen.” The CEO of JPMorgan made his comments on the cryptocurrency during a conference by the Institute of International Finance in Washington, adding that we “already have stablecoins, so they’re not the first to do that.” Cryptocurrencies like Bitcoin, Ethereum, Litecoin and many more are available to buy in the market. People have mixed opinions on this, and some percentage of people see crypto as a waste of time and money. Jamie Dimon, CEO of JPMorgan Chase company also used to oppose cryptocurrencies. A fact that he is publicly stated in 2017. While J.P. Morgan's Jamie Dimon has bashed bitcoin as a “fraud” the bank needs a way to transfer money at speed and for that, it can’t rely on old technology like wire transfers. “So anything that currently exists in the world, as that moves onto the blockchain, this would be the payment leg for that transaction,” said Farooq. Binance Coin $ 27.31 7.18%. Polkadot $ 4.32 1.36%. Chainlink $ 9.60 2.58%. Bitcoin SV $ 169.56 1.39%. Crypto.com Coin $ 0.149494 1.72%. Alle Kurse. JPMorgan-Chef Jamie Dimon erneuert seine Aussagen zu Bitcoin und Blockchain . Startseite; Aktuelle Artikel im Überblick; Krypto; Bitcoin; JPMorgan-Chef Jamie Dimon erneuert seine Aussagen zu Bitcoin und Blockchain . von Tobias Schmidt. Am 7 ...
Bloomberg Bitcoin's Steep Fall Returns to Jamie Dimon's 'Fraud' Level
What are your thoughts on Jamie's comments? Are you optimistic or bearish on bitcoin long-term? Feel free to leave a comment below! Thank you all so much for watching the video. If you enjoyed the ... While J.P. Morgan's Jamie Dimon has bashed bitcoin as a "fraud," the bank chief and his managers have consistently said blockchain and regulated digital currencies held promise. #JPMCoin #Bitcoin #XRP Jamie Dimon is the CEO for one of the largest banks in America known as JP Morgan & Chase and he’s been an enemy towards bitcoin, bashing it throughout the years. Jamie and his banking firm have ... Funny enough, JP Morgan’s in-house Bitcoin cynic and CEO, Jamie Dimon, noted that his firm’s cryptocurrency could eventually see use in retail outlets. While this project may have an innocuous ... Crypto Trading & FinTech World News 🌎 Bitcoin Blockchain Jamie Dimon X22 Report BTC ETH Roger Ver - Duration: 12 ... BINANCE BNB 🚨 BITCOIN LIVE PRICE TECHNICAL ANALYSIS TA BULL RUN 2020 ... Binance Reopens Registrations - Jamie Dimon Backs Off "Bitcoin Fraud" Comments 💲Best Crypto Exchanges for Buying Altcoins & Trading Cryptos💲: Bloomberg Bitcoin's Steep Fall Returns to Jamie Dimon's 'Fraud' Level Was Jamie Dimon right about bitcoin, has it been proven to be a scam? Please comment below! Don't forget to like and ...