Bitcoin Price Prediction: down to $12912.90? - BTC to USD ...

CHANGPENG ZHAO'S SUBSCRIBERS RIDICULED HIS BITCOIN EXCHANGE RATE PREDICTIONS

CHANGPENG ZHAO'S SUBSCRIBERS RIDICULED HIS BITCOIN EXCHANGE RATE PREDICTIONS submitted by icolink to u/icolink [link] [comments]

From September: "I’ve spoken with [16] experts and industry leaders and, to my surprise, almost all predict that bitcoin’s exchange rate will almost triple by January 1, 2019.... And it’s curious that none of the respondents expects the exchange rate to fall."

From September: submitted by blacksuit to Buttcoin [link] [comments]

Predicting the direction, maximum, minimum and closing prices of daily Bitcoin exchange rate using machine learning techniques 基于机器学习方法预测每日比特币价格变动方向,最高价,最低价以及收盘价

In this research, the ANN and SVM were firstly employed for regression of the maximum, minimum and closing prices of the Bitcoin. Then, the regression results were also used as inputs to try to improve the price direction predictions. The results shows that this method achieved an improvement of more than 10%, in accuracy, with respect to the state-of-the-art papers.
本文的研究中,首先利用神经网络和支持向量机对价格的最高价,最低价以及收盘价进行回归预测。之后,将预测值再作为模型的输入,用于价格变动方向预测。研究表明,这种方法,和当今已发表论文中较好的结果相比,提高了10%的准确率。
Source: Mallqui D C A, Fernandes R A S. Predicting the direction, maximum, minimum and closing prices of daily Bitcoin exchange rate using machine learning techniques[J]. Applied Soft Computing, 2019, 75: 596-606.
submitted by CosmicBC_Tech to CosmicBC [link] [comments]

Poll: Prediction for the Bitcoin exchange rate for the end of May

Being the beginning of another month I am running a poll for predictions for the Bitcoin exchange rate for the end of the month:
http://bitcoinreporter.com/viewpoll/53-where-do-you-expect-the-bitcoin-exchange-rate-to-be-at-the-end-of-may
Latest market report:
http://bitcoinreporter.com/analysis/bitcoin-market-report-1-may-2014
submitted by apc01 to BitcoinMarkets [link] [comments]

Experts Predict High Crypto Exchange Hack Rate Read Here - Bitcoin

Experts Predict High Crypto Exchange Hack Rate Read Here - Bitcoin submitted by undervaluedstocks to CryptoCurrencyTrading [link] [comments]

Alluva: Crypto Assets Rating and Investment Prediction Offerings Data - Bitcoin Exchange Guide

Alluva: Crypto Assets Rating and Investment Prediction Offerings Data - Bitcoin Exchange Guide submitted by prnewswireadmin to cryptonewswire [link] [comments]

BuySellHODL Cryptocurrency App: Crypto Ratings And Bitcoin Predictions - Bitcoin Exchange Guide

BuySellHODL Cryptocurrency App: Crypto Ratings And Bitcoin Predictions - Bitcoin Exchange Guide submitted by prnewswireadmin to cryptonewswire [link] [comments]

Charts showing bitcoin price predictions and currency exchange rate predictions (made using artificial intelligence algorithms)

www.btcpredictions.com
Hello guys, I run this website and I just made a major update. I was hoping to get some feedback. The site uses artificial intelligence (specifically artificial neural networks) to try to predict future bitcoin prices, as well as currency exchange rates (and soon other commodities as well). The predictions are displayed on simple charts. Starting tomorrow you'll be able to see charts showing past predictions versus actual prices.
Any constructive feedback would be greatly appreciated!
submitted by K128kevin to Bitcoin [link] [comments]

[Bitcoin Clock] - In the next 5 month, aprox. 500k new BTC will be issued, but only 250k the following 5month. I predict a huge impact on exchange rate.

submitted by spjakob to btc [link] [comments]

Charts showing bitcoin price predictions and currency exchange rate predictions (made using artificial intelligence algorithms) /r/Bitcoin

Charts showing bitcoin price predictions and currency exchange rate predictions (made using artificial intelligence algorithms) /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Poll: What is your prediction for the Bitcoin exchange rate at the end of April?

Poll: What is your prediction for the Bitcoin exchange rate at the end of April? submitted by apc01 to Bitcoin [link] [comments]

Poll: Where do you predict the Bitcoin exchange rate will be at the end of April?

Poll: Where do you predict the Bitcoin exchange rate will be at the end of April? submitted by apc01 to Bitcoin [link] [comments]

Exchange rate predictability /r/Bitcoin

Exchange rate predictability /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Exchange Rate - Predicts 1 BITCOIN = $700,000

Bitcoin Exchange Rate - Predicts 1 BITCOIN = $700,000 submitted by Nakamoto_ to BitcoinBitcoin [link] [comments]

How much does bitcoin usually fluctuate in a week?

I just bought some btc to send to a friend in exchange for an item I wanted. However since I did it through coinbase it’s on hold for one week.
How much does it usually fluctuate in a week? I’m worried I’ll be a bunch of $ in the hole
submitted by MONKEYMAIL to Bitcoin [link] [comments]

Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
submitted by VodkaHaze to badeconomics [link] [comments]

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

Why Bitcoin is Superior to Gold

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

Earn up to $18.39 worth of CHSB in the Swissborg Community App (No deposit)

Hi everyone,
Swissborg is a company who have an app for you to exchange and manage cryptocurrencies. They are currently running a competition of sorts, called the Community app where you can predict whether Bitcoin will go up or down over the next 24 hours, depending on how well you do, you move up and down a leader board and at the end of the competition, will be rewarded with differing amounts of Bitcoin.
You can earn CHSB, Swissborg's own crypto token, by complete tasks in the app and earning badges. There are 15 badges, once you collect all badges, you receive 250 CHSB (currently 18.39USD) and enter their Hall of Fame. Most of the badges are very easy to get and don't take much of your time (e.g. log in 7 days in a row), but to get the last three badges, you'll need to invite people to sign up with your link, although I am not sure on the number for the third badge, you get the first two after 3 and 5 friends have signed up. blog post explaining all the badges -- Current CHSB exchange rate
The current prize pool is $161,300, which increases by $1 with every new user. This prize depends on how many points you have; you can earn these for logging in daily, making correct forecasts, and inviting friends. This prize will be distributed in BTC, but your rank needs to be at least 20,000th to get the lowest prize which is currently $3.23 (though the first prize is $9678).
Steps:
Download the Community app.
Register for an account (use my referral code NUYUN2Y and we both get 3,000 points).
Collect badges and make predictions!
In order to redeem the prizes, you'll need to download the Wealth app and verify ID. There's also a separate referral program for the Wealth app: if you register with my ref link and make an initial deposit of at least €50 (can be done with £50) of any supported asset/currency, we'll both get a random reward in BTC worth from €1 to €100.
Both Swissborg apps are really quick and easy to sign up to, and the Community app does not need any kind of deposit, their website states that the onboarding process for the app is 90 seconds.
Thanks to anybody that uses my code/link and let me know if you have any questions!
submitted by Nikolai828x to beermoneyuk [link] [comments]

How profitable is binary options trading?

How profitable is binary options trading?
Greetings! 👋🏻 Today we will tell you about the profitability and benefits of trading binary options on BAEX.
With binary options, your profit or loss is locked. That is, you will earn a fixed amount depending on how well you speculate on the price of the underlying instrument for the move.
So, if you get $ 100, if Etherum's price rises in the next 60 seconds, that's what you get, whether the price rises to $ 1 or $ 300. If the price falls, you lose your investment.
You don't need to open a cryptocurrency wallet to get started. Trading binary options does not require you to own the underlying instrument, which in this case, could be $ 5000 Bitcoin. This is a good option if you do not want to hold long positions.
In general, there are two options for correctly predicting the price movement and, accordingly, making a profit on binary options.
The first option involves an active analysis of the market situation using fundamental and technical methods to predict the short and medium-term market behavior.
In our opinion, the second option is more popular among traders and involves the use of two main advantages of binary options - the time and distance that the price of the selected asset must "pass" (we will talk about these advantages below). This option is also called "news trading" - quite often; the market reacts to momentary events.
🏆 Benefits of trading binary options on BAEX:
🔹 Simplicity and accessibility of the "mechanics" of binary options;
🔹 Transaction costs - your associated costs will be zero;
🔹 Time - there is a chance to earn, for example, 100% of the invested amount in just one minute;
🔹 Distance - the profit a trader makes does not depend in any way on the distance the price travels.
✅ Also, BAEX is the only binary options system where the profit can exceed 100%! On BAEX tokens, you can trade options on exchange rates and stocks through the blockchain and earn almost instantly! Typically, profits will be in the range of 180 to 220% of the trade volume, but the system automatically adjusts the odds based on the ratio of losses to winnings.
⚡️ Join BAEX today: https://baex.com
https://preview.redd.it/s1ru2p9h8gv51.png?width=1200&format=png&auto=webp&s=df3b9970c18848f3629f1b4260bea3ae14ed00a5
submitted by VS_community to BaexExchange [link] [comments]

CRYPTOCURRENCY EXCHANGE DEVELOPER

Crypto exchanges are expected to experience an enormous growth rate by 2030! Launch your own exchange to join the revolutionary wave!
Embark on your own crypto exchange and embrace a million-dollar business opportunity!
Cryptocurrency exchanges are fueling the growth of the cryptosphere, and is the reason behind the massive crypto market size of $270 billion. With new advancements coming in almost everyday, more investors are expected to flood the market and exchanges are poised to capture massive growth in the future.
Here are some engrossing numbers and predictions, • By 2030, Bitcoin is positioned to achieve growth in user adoption and trade volume of 20% to 50% • The aggregate crypto exchange volume of US trading activity in 2019 was about $227 billion drastically increasing from $1.3 billion exchange volume in 2015. This tremendous increase represents an annual (CAGR) growth rate of 15.7% per year. • The past four years have witnessed cryptos and crypto exchanges become ubiquitous, prompting more national and regional authorities to grapple with their regulation. • In the U.S alone, The crypto exchange revenue and adoption is expected to grow upto 50% by 2029. So, effect an entry into the market at the right time!..
To launch a cryptocurrency exchange in the most speedy, secure, successful way, This is the right place for you. Having gained extensive experience and expertise in the field, we ensure credible solutions from development, marketing to deployment at affordable prices...
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submitted by Cryptoman1962 to Jobs4Bitcoins [link] [comments]

Is Cryptocurrency Really The Future?

Is Cryptocurrency Really The Future?
Over the past decade, cryptocurrency has become a breaker of old approaches in monetary policy, finance, economics, and e-commerce. The speed at which the crypto industry is growing today is very impressive. The global cryptocurrency market volume is predicted to reach $1,758 million by 2027 with a compound annual growth rate of 11.2%.
by StealthEX
More and more people are getting faced with the digital currency so the questions on the future of cryptocurrencies are becoming especially relevant today. So what is the future of cryptocurrency? In this article, we’ll try to figure this out.
Predicting the crypto world’s future is impossible without knowing the current situation on the cryptocurrencies market.

What trends can we observe today?

• Nowadays the crypto market is in its formation stage. We can see an increase in the number of areas where blockchain technology is getting involved. The COVID19 and panic that it caused in the markets are also accelerating cryptocurrency adoption.
• Any cryptocurrencies rate is rigidly tied to the situation in the crypto market.
• Bitcoin and Ethereum are the biggest influencers in the cryptocurrency market.
• Investors are paying attention to the crypto projects that are aimed to create platforms for launching decentralized applications (dApps).
• Significant growth of decentralized finance (DeFi).
• Decentralized Internet (Web 3.0) is actively increasing and creating the basis for the Internet of Things development.
The growth of digital currencies around the world allows making some predictions about the future of crypto market. Let’s look ahead to the future and try to forecast the prospective trends in the crypto world development.

Bitcoin’s reign will not end

The first thing that worries many crypto holders is “What will happen to Bitcoin”?
The ups and downs of Bitcoin’s rate, rumors about the next hard fork, legalization in some countries, and prohibition in others — all these kinds of news makes people guess what will come up with the most popular coin. Experts have different opinions from a complete drop in price to the status of the only currency in the world.
Most experts are leaning towards that Bitcoin will maintain its current positions and even strengthen them. For example, John McAfee, businessman and computer programmer, says:
“You can’t stop things like Bitcoin. It’s like trying to stop gunpowder.”
He also made a bet that if Bitcoin will not cost $500,000 by the end of December 2020 he will eat his own…well, you know.
James Altucher, American hedge-fund manager, author, podcaster and entrepreneur, is not sure that BTC price will reach 1 000 000 USD:
“Will it be a million dollars in 2020? Maybe. Will it be 2021? 2022? Who knows.”
He also predicted that:
“At least one country’s currency is likely to fail soon — likely Argentina or Venezuela. This will lead to mass adoption of Bitcoin among that populace. That will in turn lead to Bitcoin rising by more than $50,000 when it happens.”
And just a few days after this forecast, the Venezuelan President announced that they are planning to release national crypto called El Petro. Right now a lot of countries like China, Tunisia, Senegal, Sweden, Singapore, Uruguay, Thailand, Turkey, and Iran are also working on the creation of national cryptocurrency.
So what will happen to Bitcoin? No one knows. The only thing in which many experts agree is that Bitcoin will stay as a “gold standard” in the crypto world for a long time.

Cryptocurrencies will be mainstream

“Cryptocurrencies is a fashionable investment and a sign of belonging to the special community” — this idea is actively promoted by various sports organizations, popular performers, public figures that release their own altcoins.
According to CoinMarketCap, there are already more than six thousand cryptocurrencies, and their total capitalization is $353 billion. A couple of years ago, the digital currency was almost unknown to anyone except geek developers and crypto enthusiasts. However, things are changing: prospects for businesses, rising prices, and strong community support will step by step make cryptocurrencies mainstream around the world.

Market volatility will not disappear

Cryptocurrencies are unstable by their nature, and their volatility is one of the reasons why someone becomes a millionaire and the others lose fortunes.
The strong volatility of crypto is caused by the fact that they are still at an early stage of development. Cryptocurrencies have huge growth potential if they can enter the mass market.
But every news about cryptocurrencies either hints at the possibility of markets going down or rising up. The volatility in the cryptocurrency markets will continue to be felt as the news affects the market, and it is only at the stage of rapid development.

The future of trading — decentralized exchanges

In the near future, we will see a prime of decentralized exchanges. Many believe that DEXes is not yet ready for mass adoption. But there are factors for a favorable development of events.
First of all, centralized exchanges don’t fit the purpose of cryptocurrencies cause the key advantage of digital coins is decentralization. In decentralized exchanges, transactions can be made directly between users (peer-to-peer) without the need for a trusted intermediary, which means there are no transaction fees for users.
On top of this, decentralized exchanges are much more secure against hackers as there no single point of failure like in centralized exchanges. Everyone knows the cases with Mt.Gox, Bitfinex, Coincheck when people lost millions and millions. The need for more security will lead users to decentralized exchanges.

The rise of crypto loans

“Cryptocurrency is convenient to take on credit” — not long ago this idea seemed like a wild ride since the digital currency has high volatility. But today the popularity of lending in digital currencies is increasing and here are the main reasons:
• Low-interest rates.
• Increase in the number of traders and investors for whom receiving funds immediately in cryptocurrencies is convenient.
• A simplified system of requirements for borrowers, those who hadn’t been approved for bank loans could easily receive digital money.
Nowadays, the entire crypto loaning industry is estimated at $4.7 billion and the number of crypto loan platforms will continue growing.

Regulators gonna regulate

In the early days of cryptocurrencies history, traditional financial institutions sharply criticized crypto enthusiasts. The crypto market, however, has proven that it is sturdy against these kinds of attacks. Nowadays traditional institutions’ opinion regarding cryptocurrency is changing. In the future, stakeholders can have an increase in the flow of funds from Wall Street to cryptocurrencies.
There is no doubt that this will require more transparency and regulation in the crypto market. Today government and regulatory agencies around the world, including the U.S. Securities and Exchange Commission, Federal Bureau of Investigation, United States Department of Homeland Security, and the Financial Crimes Enforcement Network (and this is only within the US borders) are giving more and more attention to cryptocurrencies. The regulation of the crypto in different states is realizing in diverse ways: in some countries, it is legally recognized as a means of payment, in others its use is prohibited.
The G20 summit participants, following the discussions on cryptocurrencies, came to the conclusion that a complete prohibition of crypto will not solve anything as nowadays the digital currency plays a significant role in the economy. And if the digital currency cannot be prohibited, it must be regulated:
“Technological innovations can deliver significant benefits to the financial system and the broader economy. While crypto-assets do not pose a threat to global financial stability at this point, we are closely monitoring developments and remain vigilant to existing and emerging risks.”
As we can see the world is changing very quickly. The speed with which cryptocurrencies are integrating into the global financial system is a clear indicator that traditional financial institutions can no longer have a monopoly on the management of financial flows.
The year 2020 is the start of a new decade for the cryptocurrency industry. The next ten years will bring us key changes in traditional finance when blockchain and cryptocurrencies will become a daily thing in most countries of the world.
What are your thoughts on the future of cryptocurrencies? Tell us your ideas in the comments below.
And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 250 coins and constantly updating the list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example BTC to ETH.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your coins.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected].
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Original article was posted on https://stealthex.io/blog/2020/09/15/is-cryptocurrency-really-the-future/
submitted by Stealthex_io to StealthEX [link] [comments]

BITCOIN BLOCKCHAIN FREEBITCOIN 2020 Bitcoin exchange rate - YouTube REALISTIC Bitcoin Price Predictions Bitcoin Price Prediction by Experts (Long Term) Bitcon Exchange Rate And Bitcoin Charts Are Used By The ...

The Bitcoin exchange rate will increase by 500% in the next 10 months due to the upcoming cryptocurrency halving in 2020, according to Joe Kernen, the host of the Squawk Box program on CNBC. In May 2020, the value of the coin will reach $55,000 due to the mechanism for changing the dynamics of supply and demand, which is embedded in the asset blockchain. Bitcoin () Cryptocurrency Market info Recommendations: Buy or sell Bitcoin? Cryptocurrency Market & Coin Exchange report, prediction for the future: You'll find the Bitcoin Price prediction below. According to present data Bitcoin (BTC) and potentially its market environment has been in a bullish cycle in the last 12 months (if exists). Bitcoin forecast, Bitcoin price prediction, Bitcoin price forecast, BTC price prediction, BTC forecast, BTC price forecast. These are some other terms to define this Bitcoin (BTC) technical analysis page. Note: This predictions/forecast are done using various different types of Algorithms applied on the historical price of Bitcoin (BTC) . We do not give any guarantee of the same. Avoid using ... Bitcoin Price Prediction 2022. With the rapid mainstream adoption that bitcoin is experiencing, we can expect that by 2022 the adoption rate of bitcoin will get tripled. Bitcoin doesn’t seem too far off before it replaces fiat in many cases. By 2022, Bitcoin might reach $32,000, given the advancements are stable. Bitcoin Price Prediction 2025 Bitcoin Cash Price Prediction 2020, 2021-2023. Bitcoin Gold Price Prediction 2020, 2021-2023. BTC to USD predictions for March 2021. In the beginning price at 16958 Dollars. Maximum price $17539, minimum price $15245. The average for the month $16534. Bitcoin price forecast at the end of the month $16392, change for March -3.3%.

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