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Did A 1988 Economist Magazine Predict A Bitcoin Explosion In 2018?

Did A 1988 Economist Magazine Predict A Bitcoin Explosion In 2018?

Whats even more intriguing about the picture is the fact that the year on the coin reads 2018.Its also interesting to note that the article is discussing a completely new type of currency, a global currency, one that emerges from the ashes of cash. How ironic is it that? Bitcoin and cryptocurrency are now at the forefront of many peoples minds, a response to the current financial ways of the world. It promises to solve many of the damning challenges of fiat currency and the public enslavement that comes from the way our money currently works. Recommended: Check out our CE Podcast episode on Blockchain & Cryptocurrency Currency has always been, not just in my opinion but based on what we see in society, a means to control the human race.It hasalso been used as a tool to further widen the wealth gap, putting most of the resources in the hands of the 1 percent. Will a new form of currency truly begin to solve those issues? Perhaps. This could be the stepping stone in eventually living in a world without currency at all. The 1988 Economist article was likely echoing the financial elites desire for a one world government, or a new world order. This wouldnt be beneficial for humanity as a whole. But Bitcoin represents something different it seems. This is a fantastic fundamental hedge and store value against autocratic regimes and banking infrastructurethat we know is corrosive to how the world needs to work properly. You cannot have Central Banks infinitelyprinting currency, you cannot have folks with misguided and misdirected monetary and fiscal policyIts a con game. Chamath Palihapitiya ( source ) It is well enough that people of the nation do not understand our banking and monetary system, before if they did, I believe there would be a revolution before tomorrow morning. Continue reading >>

Inside An Undercover Bitcoin Sting | Time

Inside An Undercover Bitcoin Sting | Time

This Bitcoin-Trading Family Man Faced Years in Prison. Now Hes Telling His Story Jason Klein in Springfield, Mo., Feb. 28, 2018. When I first got into this, Id have to explain what it was because no one would have any idea, says Jason Klein, as he sips tea at a cafe in the Ozarks on a cold winter day. Now it seems like I could walk up to almost anyone in this room and theyd know. Klein, a small business owner who lives in Nixa, Mo., is talking about bitcoin, a sensational invention that recently turned his life upside down. His story involving undercover federal agents, courtroom drama and a communitys outpouring of support is one he hasnt shared until now. The tale highlights how entrancing this new technology can be, as well as the legal confusion surrounding cryptocurrencies like bitcoin: digital tokens that are minted, essentially, by computers doing puzzles. These days it seems like everyone has gone bananas about cryptocurrencies, which many refer to as crypto (despite the grumblings of prescriptivists). Investors in Silicon Valley are obsessing over the technology that underpins these tokens, known as blockchain; crypto-related startups and hedge funds are popping up one after the other; regulators around the world are on high alert, as cryptocurrencies become more interwoven with financial systems. As prices have soared (and plummeted) over the last year, the fever has spread to Americas living rooms too, where regular people are running up credit card debt to invest in something many of us dont really understand. Its been crazy, Klein says of the hype and what happened to him after he got hooked on bitcoin. When you see something like that explode, go from when I got involved $14 apiece to over $14,000 apiece, thats going to show up on peoples radars, whether Continue reading >>

Its Time Investors Take Stock, But Bitcoin Has A Future, Says Crypto Exchange Founder

Its Time Investors Take Stock, But Bitcoin Has A Future, Says Crypto Exchange Founder

Its time investors take stock, but bitcoin has a future, says crypto exchange founder Its time investors take stock, but bitcoin has a future, says crypto exchange founder Dave Chapman says interest in cryptocurrencies is rising from institutions, including private banks, many of whom are acting on demand from their clients PUBLISHED : Friday, 06 April, 2018, 7:34am Chinas yacht makers make comeback by selling superyachts The hype around cryptocurrencies may be breaking. ICOs initial coin offerings where tokens are offered up in support of blockchains, have increased dramatically. The extent of the hype is underlined by Taobao vendors offering ghostwriting services for ICO whitepapers, according to a recent South China Morning Post report. Regulators have fired warning shots and sounded notes of encouragement to the cryptocurrency/ICO market. China banned ICOs, stating that some 90 per cent were fraudulent. Hong Kongs Securities and Futures Commission recently halted the ICO of Black Cell Technology, whose token, KROPS, purports to create a single market for all farmers and consumers. And yet, the Peoples Bank of China the mainlands central bank is reportedly interested in developing a sovereign cryptocurrency. Jurisdictions in Europe and Japan are keen to host cryptocurrency exchanges and business, and institutional interest is growing. DaveChapman, a Hong Kong-based cryptocurrency entrepreneur, says the vast majority of cryptocurrencies are junk estimating that just 10 per cent of the 2,000 or so coins out there are worth investing in. That said, in Chapmans view, youd be crazy to ignore them. Everyone says crypto is so bad, but theres no difference between this and any other time when people have gone into something (new), Chapman says. Is it new? Yes. Does it need Continue reading >>

Bitcoin May Be Beat By These Cryptocurrencies In Coming Months | Fortune

Bitcoin May Be Beat By These Cryptocurrencies In Coming Months | Fortune

In the past, when cryptocurrencies such as Bitcoin have split in two, it was as if money fell from the sky. Take Bitcoins August fork, for instance. Mathematically speaking, one split in half results in two halves. But instead of adhering to that set of logic, that particular fork resulted in one plus a little extra. So while the price of Bitcoin hovered around $2,750, the price of its forked coin, Bitcoin Cash, traded initially at $200 . Thus, investors who owned Bitcoin woke up the next day with one Bitcoin Cash for each Bitcoin they owned, and all the wealthier for it. Such forks are one way to get cryptocurrency airdrops, or apparently free digital coins distributed to users that meet certain criteria. And its a phenomenon some cryptocurrency investors have chased in recent months in the hopes of profits. As Fundstrats Thomas Lee notes, that interest is enough for tokens with upcoming forks to maybe do well. Notably, Lee calls for investors to generally stay out of smaller cryptocurrencies, and stick with giants of the space. Tokens with upcoming forks and airdrops have outperformed bitcoin by 4.8% since the peak of altcoins, wrote Lee in a note Thursday. We identify six major forks/airdrops in next 90 days, which could support interest in these tokens. Here are the scheduled forks and airdrops Lee highlighted: Continue reading >>

Bitcoin Magazine - Nasdaq.com

Bitcoin Magazine - Nasdaq.com

Bitcoin Magazine is the worlds first and foundational digital currency publication, covering the innovative ideas, breaking news and global impact at the cutting-edge intersection of finance, technology and Bitcoin. Published by BTC Media, the online publication serves a daily international readership from its headquarters in Nashville, Tennessee. For more information and all the breaking news and in-depth reports on Bitcoin and blockchain technology, visit BitcoinMagazine.com. Enter up to 25 symbols separated by commas or spaces in the text box below. These symbols will be available during your session for use on applicable pages. Select the background color of your choice: Select a default target page for your quote search: Please note that once you make your selection, it will apply to all future visits to NASDAQ.com. If, at any time, you are interested in reverting to our default settings, please select Default Setting above. If you have any questions or encounter any issues in changing your default settings, please email [email protected] . You have selected to change your default setting for the Quote Search. This will now be your default target page; unless you change your configuration again, or you delete your cookies. Are you sure you want to change your settings? Please disable your ad blocker (or update your settings to ensure that javascript and cookies are enabled), so that we can continue to provide you with the first-rate market news and data you've come to expect from us. Continue reading >>

Nixa Man Guilty Of Bitcoin Scheme Talks To Time

Nixa Man Guilty Of Bitcoin Scheme Talks To Time

Nixa man guilty of bitcoin scheme talks to Time Time published the story about Jason Klein of Nixa on Thursday. Nixa man guilty of bitcoin scheme talks to Time Time published the story about Jason Klein of Nixa on Thursday. Check out this story on news-leader.com: A link has been sent to your friend's email address. A link has been posted to your Facebook feed. To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Welcome to our new and improved comments, which are for subscribers only. This is a test to see whether we can improve the experience for you. You do not need a Facebook profile to participate. You will need to register before adding a comment. Typed comments will be lost if you are not logged in. Please be polite. It's OK to disagree with someone's ideas, but personal attacks, insults, threats, hate speech, advocating violence and other violations can result in a ban. If you see comments in violation of our community guidelines , please report them. Nixa man guilty of bitcoin scheme talks to Time Brooke Crum , [email protected] Published 2:35 p.m. CT March 2, 2018 | Updated 8:26 p.m. CT March 2, 2018 Buying with bitcoin can be as easy as tapping your phone, though there is a learning curve. Bitcoin miner fees have dropped markedly this year, and advocates say congestion issues are being solved by new technologies. (Feb. 27) AP A Nixa entrepreneur who pleaded guilty in May toconducting an illegal money transmitting business by exchanging bitcoin for cash without a license recently told his story to Time magazine . Jason R. Klein exchangedbitcoins with undercover federal agents who gave him thousands of dollars incash on five separate occasions in 2015 and 2016, the News-Leader previously reported. It's not illegal to Continue reading >>

What Is The Best Time To Buy Bitcoin? When To Sell Bitcoin? | Money

What Is The Best Time To Buy Bitcoin? When To Sell Bitcoin? | Money

After a brutal start to the year for cryptocurrency investors , Bitcoin bounced back big time in April. As of April 1, each unit of Bitcoin was selling for $6,816, roughly one-third of the value that Bitcoin hit at its peak (near $20,000) last December. At the end of April, though, Bitcoin was worth roughly $9,300. Thats an increase of 36% during the month. In other words, if you bought $1,000 worth of Bitcoin at the start of April, youd be $360 richer right now. (All of the Bitcoin values in this story come from the cryptocurrency info site Coindesk .) When is the best time to buy Bitcoin in general? Well, its impossible to predict the future performance of any investment, and cryptocurrencies are especially volatile and unpredictable. So figuring out exactly when to buy and sell Bitcoin is essentially a guessing game. Still, its interesting to look back at the extraordinary fluctuations in Bitcoin prices over the last half-year, when its been up nearly 50% over the course of one month, down close to 40% in another. What was the best recent month for buying Bitcoin ? We were curious about which period would have been best (and worst) for a theoretical short-term investor who scooped up some Bitcoin at the beginning of the month and unloaded it by months end. Here are the numbers: As you can see, November 2017 was the best time in the last six months for a theoretical investor to buy and sell Bitcoin over one months time. If youd invested $10,000 in Bitcoin at the beginning of last November, you would have been up $4,700 by the end of the month. On the flip side, January and March were both stinkers for Bitcoin, when the cryptocurrencys value declined 32% and 36%, respectively. Even though the data above reveals some of Bitcoins steep ups and downs, they dont show the Continue reading >>

What Is Bitcoin? The Complete Wired Guide | Wired

What Is Bitcoin? The Complete Wired Guide | Wired

The cryptocurrency represents amazing technological advances. But bitcoin has a way to go before it's a a true replacement for, or even adjunct to, the global financial system. Bitcoin is a digital currency. Like other currencies, you can use it to buy things from merchants that accept it, such as Overstock.com, or, as is more often the case, hold on to it in hopes that it will increase in value. Unlike traditional currencies, which rely on governments and central banks, no single entity controls bitcoin. Rather, it is supervised by a worldwide network of volunteers who maintain computers running specialized software. As long as people run bitcoin software, the currency will keep working, because everything needed to keep it working is stored in a distributed ledger called the blockchain . And even though it's all digital, bitcoin is scarce. Its most wild-eyed proponents believe bitcoin's decentralized, cryptographic approach to currency can yield a host of benefits: limiting central bankers ability to damage economies by printing too much money; eliminating credit-card fraud; bringing the unbanked masses into the modern economy; giving people in unstable economies a safe place to park their money; and making it cheap and easy to transfer funds. But bitcoin has yet to realize these goals, and critics argue it may never live up to the hype. When you send or receive bitcoin, your bitcoin software, referred to as a wallet, records the transaction in the blockchain. The blockchain is maintained by, and distributed across, the roughly 200,000 computers running bitcoin software. If someone tries to alter the ledger to make it look like they have more bitcoin than theyre supposed to, the tampering will be apparent because it won't match the other copies of the blockchain. Peo Continue reading >>

About Bitcoin Magazine - Bitcoin Magazine

About Bitcoin Magazine - Bitcoin Magazine

Bitcoin Magazine is the oldest and most established source of news, information and expert commentary on Bitcoin, blockchain technology and the digital currency industry. Since 2012, Bitcoin Magazine has provided analysis, research, education and thought leadership at the intersection of finance and technology. Bitcoin Magazine strives to present accurate, timely and relevant material to the Bitcoin and blockchain communities. We are passionate about Bitcoin, cryptocurrencies and blockchain technology and are keen to share news about the people, companies and technological developments that are changing our world. Whether our readers are new to the space or blockchain-savvy developers, investors or entrepreneurs, we aim to inform and enlighten them with quality stories that meet our stringent editorial and journalistic standards, featuring both the highs and the lows of the cryptocurrency industry. Bitcoin Magazine is owned by BTC Media LLC , which is the media and publishing subsidiary of BTC Inc. BTC Media also publishes yBitcoin, Lets Talk Bitcoin and Distributed. Bitcoin Magazine is the first publication devoted exclusively to Bitcoin. Founders Mihai Alisie and Vitalik Buterin, the creator of Ethereum, published their first issue in May, 2012 and later joined forces with Orlando, Florida-based Coin Publishing LLC to produce 22 issues. BTC Media acquired Bitcoin Magazine in 2015. Who is Bitcoin Magazines editorial staff? Bitcoin Magazine has a dedicated editorial staff that is independent of BTC Medias other commercial properties. How does Bitcoin Magazine choose which stories to cover or publish? The editorial staff accepts stories and story pitches entirely on their journalistic merits, timeliness, relevance and interest to the publications readership in the crypt Continue reading >>

This Is What Happens When Bitcoin Miners Take Over Your Town

This Is What Happens When Bitcoin Miners Take Over Your Town

The Friday Cover is POLITICO Magazine's email of the week's best, delivered to your inbox every Friday morning. By signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time. Patrick Cavan Brown for Politico Magazine This Is What Happens When Bitcoin Miners Take Over Your Town Eastern Washington had cheap power and tons of space. Then the suitcases of cash started arriving. EAST WENATCHEE, WashingtonHands on the wheel, eyes squinting against the winter sun, Lauren Miehe eases his Land Rover down the main drag and tells me how he used to spot promising sites to build a bitcoin mine, back in 2013, when he was a freshly arrived techie from Seattle and had just discovered this sleepy rural community. The attraction then, as now, was the Columbia River, which we can glimpse a few blocks to our left. Bitcoin miningthe complex process in which computers solve a complicated math puzzle to win a stack of virtual currencyuses an inordinate amount of electricity, and thanks to five hydroelectric dams that straddle this stretch of the river, about three hours east of Seattle, miners could buy that power more cheaply here than anywhere else in the nation. Long before locals had even heard the words cryptocurrency or blockchain, Miehe and his peers realized that this semi-arid agricultural region known as the Mid-Columbia Basin was the best place to mine bitcoin in Americaand maybe the world. The trick, though, was finding a location where you could put all that cheap power to work. You needed an existing building, because in those days, when bitcoin was trading for just a few dollars, no one could afford to build something new. You needed space for a few hundred high-speed computer servers, and also for the heavy-duty cooling system t Continue reading >>

How I (almost) Made Millions In Bitcoin

How I (almost) Made Millions In Bitcoin

What to know about the crypto-craze before it implodes. Its a lazy Sunday morning away from my family, Im sitting in a hotel room in Montreal, and Ive got $160,000 in my pocket. Or, rather, my pocket. Im staying in the neighborhood known locally as the McGill Ghetto, thanks to its proximity to the citys famous university. My room is large with a kitchen and living area but not fancy. The money is tied up in cryptocurrency and Im not ready to cash out. With a few mouse clicks, I could liquidate my positions and transfer the proceeds (minus fees) into my bank account overnight. After paying capital gains tax, Id have six figures in legally earned legal tender. But heres the rub: Twenty-four hours earlier, my portfolio was worth less than $80,000. Overnight, one particular cryptocurrency a low-cap privacy coin called Verge caught fire with the Asian markets. By the same time tomorrow, that $80,000 might evaporate. Or it may double again. 6 People on How They Spent Their Bitcoin Fortunes Welcome to the wild world of cryptocurrency, an impossibly young global financial market that runs 24 hours a day, seven days a week. Especially in recent months, the media has become feverish over bitcoin, ethereum, and Initial Coin Offerings, as breathless reporters publish stories of college seniors turned millionaires thanks to tiny investments made during their freshman years. The reality is far less romantic. For every 1,000-times windfall, thousands more investments have gone south, wiping out trading accounts and nest eggs. As a bitcoin enthusiast since 2013 and casual crypto trader since 2015, Ive had my share of euphoric wins and heart-crushing losses. But Im also a grown man with a family I dont Google sports cars when Im ahead; my dreams involve 529 plans and down payments. And Continue reading >>

A Sidelined Wall Street Legend Bets On Bitcoin

A Sidelined Wall Street Legend Bets On Bitcoin

A Sidelined Wall Street Legend Bets on Bitcoin Michael Novogratz is searching for redemption in cryptocurrencies. Michael Novogratz calls himself the Forrest Gump of bitcoin, citing his luck at being in the right place at the right time. A Sidelined Wall Street Legend Bets on Bitcoin Michael Novogratz is searching for redemption in cryptocurrencies. Michael Novogratz calls himself the Forrest Gump of bitcoin, citing his luck at being in the right place at the right time. Audio: Listen to this story. To hear more feature stories, download the Audm app for your iPhone. Michael Novogratz was in a good mood. It was the thirtieth reunion of Princetons class of 1987, and the on-again, off-again billionaire was getting a lot of respect. I want to hit you up about something, a two-star general said. Those are the freshest kicks, a young bro in a dressing gown observed, complimenting Novogratzs black patent shoes with orange piping and matching tassels. (Its all about peacocking, Novogratz later told me, of his sartorial extravagance.) He huddled with Joseph Lubin, a former roommate and one of the co-founders of the hit cryptocurrency platform Ethereum. It was a warm June day, last year, and the Princetonians were amiably crushing cans of Bud amid chants of Tiger, tiger, tiger, sis sis sis, boom boom boom, ah! The alumni parade, known as the P-rade, started to wind through the neo-Gothic campus, its mob of participants marching past signs for a symposium entitled Can America Still Lead? As we joined the P-rade, we heard shouts of Novo! Novo! Novo! He stopped by a gaggle of young wrestlers, all of whom seemed monumentally drunker than the rest of Princetons populationa notable distinction. Novogratz, formerly the captain of the colleges wrestling team, slapped a half-naked man o Continue reading >>

Beyond The Bitcoin Bubble

Beyond The Bitcoin Bubble

Credit Photo illustration by Delcan & Company. Balloons by Jenue & Laura Ortega. Yes, its driven by greed but the mania for cryptocurrency could wind up building something much more important than wealth. layer innocent nothing argue pottery winner cotton menu task slim merge maid The sequence of words is meaningless: a random array strung together by an algorithm let loose in an English dictionary. What makes them valuable is that theyve been generated exclusively for me, by a software tool called MetaMask. In the lingo of cryptography, theyre known as my seed phrase. They might read like an incoherent stream of consciousness, but these words can be transformed into a key that unlocks a digital bank account, or even an online identity. It just takes a few more steps. On the screen, Im instructed to keep my seed phrase secure: Write it down, or keep it in a secure place on your computer. I scribble the 12 words onto a notepad, click a button and my seed phrase is transformed into a string of 64 seemingly patternless characters: 1b0be2162cedb2744d016943bb14e71de6af95a63af3790d6b41b1e719dc5c66 This is whats called a private key in the world of cryptography: a way of proving identity, in the same, limited way that real-world keys attest to your identity when you unlock your front door. My seed phrase will generate that exact sequence of characters every time, but theres no known way to reverse-engineer the original phrase from the key, which is why it is so important to keep the seed phrase in a safe location. That private key number is then run through two additional transformations, creating a new string: 0x6c2ecd6388c550e8d99ada34a1cd55bedd052ad9 That string is my address on the Ethereum blockchain. Ethereum belongs to the same family as the cryptocurrency Bitcoin, who Continue reading >>

How To Buy And Sell Bitcoin For Beginners

How To Buy And Sell Bitcoin For Beginners

How to Buy and Sell Bitcoin for Beginners We get a local cyrptocurrency expert to help explain blockchain for us blockheads. Digital currencies have had a hell of a first quarter, and its barely February. Bitcoin and by extension nearly all other cryptocurrencies soared to record highs at the end of 2017, before plummeting two-thirds in value. As I write this, the price of one Bitcoin is hovering around $8,000; not the $20,000 peak around Christmas, but a far cry from the $0.08 it was trading at in the middle of 2010. As ofpress timethe value is just over $11,000, representing a 28 percent increase over the lastweekbut a 12-pluspercentdipover the past month. Such volatility is often cited as one of the major hurdles for prospective Bitcoin investors, but probably the largest can be summed up in a single question: To help explain the what and how of cryptocurrencies, we spoke with Mark DAgostino, CEO of Grid+ , a company tasked with using blockchain software and a dedicated digital currency to more efficiently manage energy consumption in the home. DAgostino previously worked as a consultant for various financial firms in Manhattan including several Fortune 500 companies before joining ConsenSys , a company Crains recently profiled as the brains behind the cryptocurrency Ethereum. (Grid+ spun directly out of ConsenSys.) Bitcoin is a digital-only form of currency developed to allow anyone to transact over the Internet without having to rely on banks or other middlemen. Remember how annoying it was to try and split a bill before everyone you knew had Zelle/QuickPay/PayPal/Venmo/etc.? Now imagine if you could just send money the way you send an email or an MP3, without having to rely on these other companies. Blockchain is the software that makes this system possible. When Continue reading >>

Bitcoin

Bitcoin

Add this topic to your myFT Digest for news straight to your inbox Prosecutors accuse traders of embezzling customers digital assets Concerns grow that these volatile currencies could leave banks in trouble A thought experiment featuring the Winkleveii. Bank thinks ambitions for Quorum arm more readily achieved as standalone Reserve-backed Saga designed to win approval of financial and political establishment Officials seek balance between encouraging new technologies and risking reputation Card company happy to look at use of digital currencies issued by central banks The tenacity of bitcoin reflects dissatisfaction with current payment systems Vasant Prabhu says extent of speculation has been a real shock As corporate fundraising evolves, investors need greater protection Price of bitcoin falls 5 per cent on crackdown, which will also hit ICOs and CFDs Led by city youth, old-school investors are turning to digital alternatives Digital token reveals the weakness of our current payment systems Public might flee private lenders to refuge of the state in digital bank run Luck begins to wane once electricity and hardware costs are factored in EBA suggests preventing banks from holding digital coins rather than regulating asset Mt Gox is going to crash the bitcoin market twice, arent they? Bitcoin has created billionaires but questions remain over the sustainability of a rash of new cryptocurrencies Regulator sanctions 7 operators after finding loose compliance and poor training Popular digital coin wallet signals move into asset management Mark Carney rejects outright ban, saying innovation must be allowed Markets data delayed by at least 15 minutes. THE FINANCIAL TIMES LTD 2018. FT and Financial Times are trademarks of The Financial Times Ltd. The Financial Times and its Continue reading >>

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