License to print money... BitCoin?

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November 28th, 2017 at 2:08:25 PM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 108
Posts: 8105
Quote: Fleastiff
bitcoin reported to have hit ten grand.
Ceilings are for cowards.
/.


Keep seeing it try to break thru but nothing yet. Maybe when Asia wakes up.
The man who damns money has obtained it dishonorably; the man who respects it has earned it
November 28th, 2017 at 5:23:35 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 118
Posts: 14654
"A new study claimed this week that close to four million bitcoins have been lost by their owners, which would decrease the existing supply (16.7 million) by almost a quarter and thus raise the scarcity/deflation of BTC.
I seriously suspect that some of the people pumping up Bitcoin over the past week wanted to win personal bets that it would reach $10,000 by the end of the year."

http://fortune.com/2017/11/25/lost-bitcoins/
If you take a risk, you may lose. If you never take a risk, you will always lose.
November 28th, 2017 at 7:49:53 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 824
Posts: 9910
Quote: Evenbob
"A new study claimed this week that close to four million bitcoins have been lost by their owners, which would decrease the existing supply (16.7 million) by almost a quarter and thus raise the scarcity/deflation of BTC.


Well 1 of those 4 million bitcoins are the original ones. Presumably they are held by Satoshi (the Bitcoin creator). If he starts to try and collect his $10 billion then he will be the greatest FONSI artist of all time.

On 18 August 2008, the domain name bitcoin.org was registered. On 22 May 2010, Laszlo Hanyecz made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC. In two months those 10,000BTC would be worth $800. Today they would be worth $100 million.

BTC broke $10,000 early morning of 29 November 2017 and $11,000 a few hours later.

I wonder if Wiz will tell us how many predictions are above $10K in his game. Of course there should be a roll back soon.
December 23rd, 2017 at 12:35:33 AM permalink
petroglyph
Member since: Aug 3, 2014
Threads: 18
Posts: 2941
SNB has to bailout company that makes the paper for Swiss money. http://www.zerohedge.com/news/2017-12-21/unprecedented-intervention-swiss-central-bank-bails-out-firm-prints-swiss-banknotes
Everyone gets thrown from the plane to maintain altitude
December 31st, 2017 at 8:17:46 AM permalink
SOOPOO
Member since: Feb 19, 2014
Threads: 7
Posts: 485
My son, 25 year old computer programmer who makes a good income, has low expenses, (and no debt thanks to dad), told me he bought 1/2 a bitcoin at 10,000, so he has $5,000 invested. I asked him if he plans on selling half when it reaches 20,000, to keep a quarter bitcoin as a 'free ride', and his answer was a well thought out no. He says in around 4 years the difficulty in mining a new bitcoin will increase substantially, and there are a defined maximum number of bitcoins available for mining. He expects the price to reach $100,000 shortly after the mining difficulty increase. He is also aware that his $5,000 has a non zero chance of becoming $0.
December 31st, 2017 at 8:53:16 AM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 824
Posts: 9910
There is no upper limit on the number of $100 bills in circulation.

The print orders (about half of which will be used to replace old notes) are
1.5168 billion for FY2017 (quantity of notes, not dollar value)
1.6704 billion for FY2018

Year $100 banknotes billions in circulation (1996 big headed $100 banknote)
2016 11.5
2015 10.8
2014 10.1
2013 9.2
2012 8.6
2011 7.8
2010 7.0
2009 6.6
2008 6.3
2007 5.7
2006 5.6
2005 5.4
2004 5.2
2003 4.9
2002 4.6
2001 4.2
2000 3.8
1999 3.9
1998 3.2
1997 2.9
1996 2.6

Quote: SOOPOO
There are a defined maximum number of bitcoins available for mining. He expects the price to reach $100,000 shortly after the mining difficulty increase. He is also aware that his $5,000 has a non zero chance of becoming $0.


I don't think that the predetermined maximum number of bitcoins has any bearing on anything. It's not like there are so many paintings of by Leonardo da Vinci. Bitcoins can be subdivided into 10^8 sections.

Quote: SOOPOO
He is also aware that his $5,000 has a non zero chance of becoming $0.


I sincerely doubt that value will go back to zero.
January 22nd, 2018 at 11:25:04 AM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 118
Posts: 14654
"Ripple price LIVE: XRP loses $6.5BILLION today as Ripple, bitcoin and Ethereum plunge
RIPPLE is plummeting in value today, its price dropping by more than $6.5billion since 5am this morning."

I know a guy online who switched his
business to cryptocurrency last month.
You can find him trying to hang himself
in his garage..
If you take a risk, you may lose. If you never take a risk, you will always lose.
March 30th, 2018 at 1:20:34 PM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 54
Posts: 6060
Now there is Bit Coin Mining - Lite.
You still mine bitcoins on some server but it don't cost no arm and leg to do it.
April 30th, 2018 at 3:38:17 AM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 54
Posts: 6060
Norway's first Private City (police, fire, garbage, electricity all privately owned) has accepted over twenty-seven different types of Big Coin currencies.
April 30th, 2018 at 5:14:43 AM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 824
Posts: 9910
Quote: Fleastiff
Norway's first Private City (police, fire, garbage, electricity all privately owned) has accepted over twenty-seven different types of Big Coin currencies.


What is a private City? In Norwegian

Liberstad accept the following Crypto-currencies as donations
BITCOIN
LITECOIN
DASH
ETHEREUM
ETHEREUM CLASSIC
RIPPLE
DOGECOIN
BITCOIN CASH
BITCOIN GOLD
PIVX
MONERO
VERGE
BITCONNECT
NAMECOIN
ZCASH
NEM
BITCOINPLUS
PEERCOIN
ZENCASH
FEATHERCOIN
BITCOINDARK
DIGIBYTE
STRATIS
POTCOIN
DENARIUS
MONACOIN
BLACKCOIN
VERTCOIN
PINKCOIN
NOVACOIN
SIACOIN
STELLAR
BYTECOIN
IOTA
EOS
FLORINCOIN
OMNI

============================================
This Norwegian free city seems more aimed at Scandinavian residents. Electronic Residency in Estonia is aimed more at Russians and Americans who want to bank and do other things in the European Union.

https://en.wikipedia.org/wiki/E-Residency_of_Estonia
https://e-resident.gov.ee/

Quote: Eeva Haaramo

https://www.zdnet.com/article/borderless-banking-estonias-e-residents-can-now-open-accounts-without-going-there/

Borderless banking: Estonia's e-residents can open accounts without going there
Estonia is expanding its digital residency with a new business banking scheme.
By Eeva Haaramo for Estonia Uncovered | May 31, 2017

Estonia has made headlines with its e-residency initiative, which lets anyone become a virtual resident of its 'digital nation' and set up an EU-registered company. Now these businesses can also open bank accounts without ever setting foot in the Baltic country.

"Improving access to banking has been a key priority of the e-residency program during its beta phase of development," Kaspar Korjus, Estonia's e-residency program director, tells ZDNet.

With crowds of new e-citizens and hundreds of new companies, Estonia's e-residency project has exceeded expectations in its first year.

"A lot of work has taken place to ensure this new option is suitable for e-residents and fully complies with regulations for Estonian companies."

The benefits of e-residency include full access to Estonia's public digital services and the right to start and run an EU company remotely. But opening a bank account has still required a physical visit.

This extra step is now removed following a collaboration with Finnish fintech company Holvi, which allows e-residents to establish online business current accounts from almost anywhere. Exceptions are the US and countries on the Financial Action Task Force's blacklist.

Holvi rose to prominence by offering a smart banking service for small-scale entrepreneurs, integrating digital banking, bookkeeping, and invoicing. The e-residents package includes an EU international bank account number, or IBAN, and business MasterCard.

"This is a new market segment for us and has required some investment in technology and support," says Holvi CEO Antti-Jussi Suominen. "[But] the basic feature set of our service is the same."
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