Btc very important revealing geopolitical economic events pushing bitcoin pricing
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The second best time is today. Wow, what a week for Bitcoin, to say nothing of the bloodbath in altcoins something I have been waiting for for a long time now ….
In spite of this dramatic recent increase, I argue that BTC is still cheap because there are no regulated, large scale investment vehicles for Wall St. Also keep in mind that GBTC is billed as an open-end investment trust, meaning it can sell unlimited shares, unlike a closed-end fund. Not even a little bit of BTC for every American family, guys? The commission said it was rejecting the Winklevoss Bitcoin Trust because the markets where Bitcoin are currently traded are largely unregulated.
Who has money saved to allocate to investments in the world? In general, that group is older people who have worked for many years and saved money for their retirement. How do older people feel about new technologies like the Internet, smart phones, and AI? So it is reasonable to believe that once a liquid, regulator-approved BTC investment vehicle exists like an ETFonly then will significant retail investor dollars flow into the market — and we know what that means for the BTC price.
What are the VCs up to? Why people would throw money at a decentralized Dropbox replacement an idea so plainly lacking in both imagination and potential for profits is beyond me, but it is good for Bitcoin believers btc very important revealing geopolitical economic events pushing bitcoin pricing me since those dollars could have been used to buy bitcoins instead.
But their CEO is optimistic …. Having earned the blessing of the CFTC this summera startup financial exchange called LedgerX will be listing regulated Bitcoin derivatives — including options, settled via a swap execution facility — as early as this fall Under the order, LedgerX will be authorized to provide clearing services for fully-collateralized digital currency swaps.
LedgerX, which was also granted an order of registration as a Swap Execution Facility on July 6,initially plans to clear bitcoin options. Large cryptocurrency investors VCs, investment funds, etc.
These derviatives will be particularly useful for miners of Bitcoin and cryptocurrencies more generally, as they will be able to lock in forward pricing for their hashrate. I would consider this a very positive and healthy development for Bitcoin as a trusted, liquid, and increasingly-stable financial instrument.
This report claims to link North Korean operators with cryptocurrency exchange hacks and bitcoin mining operations. In other words, North Korea is trying to build a Bitcoin war chest to avert international economic sanctions and to bolster their global financial standing.
You might be thinking: For the first time in history, Bitcoin offers a way for these nation-states to gain financial autonomy. Anyone who has been to a cryptocurrency conference recently can attest to this profiling of the most recent wave of Bitcoin adopters. They are mostly young, male, technically proficient but not necessarily cypherpunks and cryptographers, that was the previous waveand many of them have experience working in the financial and consulting industries.
Just look at all these men in suits! Taken at Consensys Their mandate is simple: Oh, and Goldman Sachs is rumored to be exploring ways to get customers exposed to cryptocurrency markets as well. Kim, it gets better than this. Bitcoin the network only cares whether you can prove you are the owner of the bitcoins you are trying to spend.
If you were in Mr. Every bitcoin that Mr. Kim buys or mines is an additional bitcoin that is taken off the market assuming he is not immediately selling for, say, fiat, which he may be doing. This makes bitcoins more scare — and scarcity is a key concept when musing about what drives the BTC price. When the market perceives bitcoins to be more scarce, the price will move higher.
When the market perceives bitcoins to be less scarce, the price will fall. We are already seeing a btc very important revealing geopolitical economic events pushing bitcoin pricing in which smaller countries embrace Bitcoin with open armswhile larger countries like China and the US attempt to nip it in the bud to prevent competition with their fiat currencies.
If North Korea can use Bitcoin to navigate the international geopolitical theater, so too can other sovereignties — even quasi-sovereign entities like FIFA will find Bitcoin to be useful as it will make their bribes significantly easier to pull off without notice. Cyber criminals may no longer be the only nefarious actors in this space. Collectively, we can also bid the price up and make Mr. Kim pay a boat load for his bitcoins. Here is the rather short story the first section contains the gist of it: Dimon making rational arguments rooted in logic?
Or is he appealing to emotionality, an older and more primitive layer in the stack of human consciousness? It was down 1 percent as of 4 p. As of today source:. And both are dangerous.
Many people have already been killed that have some relation to Bitcoin, because Bitcoin is money and people use money and people get killed on a daily basis.
By breaking the link between money and sovereignty there are neither Presidents nor sovereigns printed on bitcoinsBitcoin paves the way for a tidal wave of cultural, social, and technological innovation and progress. Since Bitcoin offers an Internet of Money with no inherent overlap with existing i.
This last point is not debatable; it is not an opinion, it is not fake news, it is fact. Fiat money is not yours aside from cash; but what portion of your value do btc very important revealing geopolitical economic events pushing bitcoin pricing hold in cash?
If — or rather, when, given the history of financial crises, which seem to be part of the human economic condition — there is a run on the bank and the FDIC, you will be forced to get in line with all the rest and probably take a massive haircut, i. This is simply not the case with Bitcoin. You are your bank. Bitcoin is strictly btc very important revealing geopolitical economic events pushing bitcoin pricing bearer asset, where possession of the private key that allows your coins to be spent is ten-tenths of the law, so to speak.
But, bitcoins are not very useful today. I have to wait at least 20 minutes for my transactions to be confirmed; transaction fees are too high, I pay nothing to use my credit cards. Why would anyone ever use Bitcoin? If, 10 years ago before Bitcoin was invented, someone has asked you the following question, how would you have responded? How long would it take to design an Internet of Money which is not controlled by any central arbiter, no government, no corporation; a freely accessible network that cuts out the banks and turns the global financial-monetary system on its head and renders it utterly useless?
So, what happens to things like taxes when, in the future, everyone is storing their value in Bitcoin, where it is easy to hide it from the prying eyes of the State and even your spouse?
The future is bright for the Individual, but the transition will be difficult. I hope I live long enough to see the revolution in full swing. Mastering the Transition to the Information Age. Just let that sink in for a bit please. Mull over the figures in your delicate psyche. This is not tax advice, nor am I suggesting you seek to evade paying taxes. This post is for entertainment purposes only. There are two types of taxation regimes the world over: You either live in a country with competent or incompetent tax authorities.
If incompetent, there are a dozen other ways to avoid paying taxes, probably all of them easier than Bitcoin.
Should this data be handed over to the Feds, you can bet they will start building a ledger for each customer — purchases made volume and price net of sales again, volume and price and send you a capital gains bill for any PNL realized on those transactions. That means that you could have:. As you can see, the main issue here for the IRS is their total and utter lack of transparency.
It is a completely separate, autonomous payment network that is under the control of no single individual or entity. There is no one rubber-stamping transactions like the Federal Reserve does in this country. Some open questions, however, remain regarding the extent to which the IRS could pursue an individual i. Will they conduct rigorous blockchain analysis — which is extremely computationally expensive by design, in a way… more on this in another post perhaps — to try and piece together a story and send you a tax bill?
This strategy is feasible in theory, but would represent a huge consumption of their resources in practice. This is an example of a voluntary tax system credit to TravisPatron for exposing me to this concept. Bitcoin puts the power back in the hands of its users. If you value the service, the right to use the Bitcoin network to move value between two nodes in the network, then you pay tax for that performance.
Imagine a system where you pay tax for roads only when you use the roads to drive. Or you only pay taxes to schools in the form of some tuition cost when your children are attending those schools. Perhaps you will agree. Bitcoin — More usefulness leads to more adoption leads to more usefulness, ad infinitum. Bitcoin is many things — open source peer-to-peer btc very important revealing geopolitical economic events pushing bitcoin pricing digital money; an alternative asset class for investors ; and possibly the global reserve currency of the future, when machines are participating in marketplaces autonomously without human intervention.
Its value should increase. More companies offer employees compensation partially of wholly in Bitcoin? What would that chart look like? The last point has only been realized to date in the case btc very important revealing geopolitical economic events pushing bitcoin pricing the Internet; my prediction is Bitcoin will follow a similar pattern. Have you heard of micropayments? The technology btc very important revealing geopolitical economic events pushing bitcoin pricing will finally kill YouTube ads?
The typical Ruby include-behavior-from-a-module pattern looks something like this:. This is a contrived example, clearly, but the pattern should look familiar: Let me explain with a quick example…. Assume that instead of one Trainable module, we really have multiple modules that encapsulate distinct forms of employee training like follows:.