The Mother of All Scams

the mother of all scams

Nouriel Roubini, aka “Dr. Doom”, today in front of a U.S. Senate Committee on Banking, Housing and Urban Affairs, called Bitcoin “the mother of all scams“… Roubini is famous for calling the 2008 financial crisis. In his testimony he also laid into blockchain as “the most over-hyped – and least useful – technology in human history”.  Roubini joins other critics of crypto including Jamie Dimon, Warren Buffett and James “The Gold Guru” Rickards. Personally, I think it’s too early to tell if Bitcoin is a scam. I do agree with some of…

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UnBakkt – What is Crypto Rehypothecation?

what is crypto rehypothecation?

Hypothecation is a fifty cent word that you should probably be familiar with if you have a home mortgage or have a margin brokerage account in America… Rehypothecation is the next iteration in hypothecation. And if you are an investor or considering investing in cryptocurrencies, you should definitely know about “crypto hypothecation” and the implications of the spread of “crypto rehypothecation”. Hypothecation is what happens when you pledge an asset as collateral for a debt. In the case of a home mortgage, you are pledging your home as the collateral…

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What is 0.001 Bitcoin Called?

What is 0.001 Bitcoin called?

Let’s say you have 0.00929204 Litecoin and you want to convert it to 0.000099 Bitcoin. Unfortunately, it seems to be hard to do this for free. If you use Coinbase, you convert Litecoin to Bitcoin but only if you log into Coinbase, then switch over to Coinbase Pro and transfer your Litecoin to Bitcoin. But there seems to be a minimum purchase of Bitcoin on Coinbase Pro in the amount of 0.001 Bitcoin. So you might have to buy more Litecoin then convert it all to Bitcoin, which seems like a…

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Will Bitcoin Become a Global Internet Currency?

Will Bitcoin become a global internet currency?

What would it take for Bitcoin to become the world’s global Internet currency? Several things. To become a global Internet currency, the granddaddy of cryptocurrencies would need to overcome the volatility, scalability, high transaction fees and speed issues that are, sadly, synonymous with Bitcoin today. While it you can use Bitcoin for purchases, because of its volatility, Bitcoin is treated mostly as a store of value. And because Bitcoin transactions are largely inefficient and expensive, using it for purchases makes no sense. individual and professional investors who are “long” on…

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When Will Miners Be Disincentivized to Mine Bitcoin?

When will miners be disincentivized to mine bitcoin?

There can only ever be 21,000,000 Bitcoin. At first the prize (aka the “block reward”) for a miner solving a hash was 50 Bitcoin. But the way Bitcoin’s blockchain works, the block reward is cut in half after every 210,000 blocks are solved. After the final 6,930,000th block, there will be no new Bitcoin created. But the network doesn’t just stay secure if no one works on it… The mining has to happen… or Bitcoin disappears. What will the rewards be then to secure the network? Bitcoin Halving Dates Bitcoin…

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JP Morgan Bitcoin Bible… Add Cryptos To Your Portfolio?

JP Morgan Bitcoin Bible

Last night the JP Morgan Bitcoin Bible was published for its private clients by JP Morgan Markets. The Bitcoin Bible, or “Cryptobible” was first reported by Zero Hedge. The Cryptobible is 71 pages of analysis and evaluation of the cryptocurrency market, Bitcoin, Ether, Bitcoin Cash, Ripple/XRP and other crypto assets and cryptocurrencies. The report should be of great interest to anyone who has followed the comments by JP Morgan’s CEO Jamie Dimon about Bitcoin being a fraud and others’ comments at the firm about Bitcoin being a pyramid scheme. Quotes…

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What is Cloud Mining and Is It a Good Business?

What is Cloud Mining

With the price of a single Bitcoin recently spiking near $20,000, cryptocurrency miners are facing even more intense competition to mine coins. Investors wanting in on the mining game are getting creative with ideas both malicious and benign. Honorable, would-be miners who are new to the game are considering cloud mining services, which eliminate the need to own expensive mining hardware. But is cloud mining for Bitcoin and other cryptocurrencies a safe or good business? What Is Bitcoin Mining? Traditional Bitcoin mining is a competition between powerful computers on a peer…

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What Affects Bitcoin Price and Value?

What affects bitcoin price and value?

Bitcoin price and our perception of value in cryptocurrencies are driven by hype and speculation. Speculation is rooted in our sentiment about the price of a particular coin or token, and whether it will rise of fall. Sentiment is a feeling, emotion or attitude about a particular situation, or things, such as cryptocurrencies and Bitcoin. Positive sentiment means we believe Bitcoin price will rise, whereas negative sentiment means we believe the price will fall. With the rise of social media, blogs and viral news, there is evidence that positive or…

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How to Trade on Coinbase (Almost) for Free

How to use GDAX to save on Bitcoin fees

When I first decided to buy some Bitcoin, I decided two things: I would only wager money I was willing to lose. I would use the simplest method possible to get started. Coinbase was the best approach because of its simplicity. Why did I choose Coinbase? With over a thousand digital assets and cryptos out there, deciding which one(s) to buy can be exhausting. I wasn’t sure what a cryptocurrency was, or even the difference between a coin and a token. Obfuscating matters further, some cryptocurrencies are not traded in…

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Bitcoin, Gold and $17 Million in Lap Dances

James the Bitcoin Baron Altucher

Last night I went to a live Bitcoin vs. Gold debate between James “The Bitcoin Baron” Altucher and James “The Gold Guru” Rickards. James Altucher is a podcaster, author and blogger and is an expert on cryptocurrencies. He has been investing in Bitcoin since 2013 and famously made his book “Choose Yourself” available for sale using Bitcoin only. James Rickards is an attorney and investment expert who runs an artificial intelligence software firm and is very bullish on gold. The debate was on whether there is a bigger opportunity to…

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