rkbabang

I sure hope so. I'm buying more under $9K, under $5K would be ideal.

In a way you don’t really own your Bitcoin in the same way that you own your house or your car. You own bitcoin in the same way you own the cash in your wallet. It is a bearer instrument. With a $100 bill the piece of paper is the instrument, if someone takes it from you they can spend it. With Bitcoin the instrument is your private key. If someone knows your private key they can send your Bitcoin to another address (their own presumably). So if you store your private key on a piece of paper and someone takes it (or even takes a picture of it) then they can access your Bitcoins. If you store your private key on a computer and someone hacks into it they can take your Bitcoins. This is why I think it is dangerous to hold Bitcoins in a 3rd party account Like an exchange or online wallet like Coinbase. You are trusting a company to keep the key safe. I suggest controlling your own keys and keeping them safe yourself. Interesting. Thanks. So the ledger records all the private keys that are out there? So if I transfer my bitcoin to you, my private key becomes invalidated and you get a new one? What is being recorded on the blockchain? Also it is better to think of it as a public address with a private key. Your address is public, that is what you give to other people to send you money and also what you use to check your balance. Think of the private key as a key to unlock your address to enable sending. Ignoring the blockchain for a moment, what using bitcoin is like is imagine a huge room filled with safety deposit boxes. Every box has an address viewable to everyone right on it. Every box has a unbreakable glass door so you can walk around and see what is inside every one. Some boxes may be empty and that is fine. Every box also has a keyhole and a coin slot so that you can put coins in a box without opening it, but you can only get to the coins inside if you have the key. So you might have the key to one box which you can open and take coins and deposit them in another box for which you don’t own the key. Also some boxes might have coins in them, but the key to get into them is lost, so those coins are forever unavailable to the world. Now of course with the actual blockchain you can not only see every public address and the balance in each one, but you can also see the history of the ledger. You can see every transaction ever made since the start of the blockchain.

In a way you don’t really own your Bitcoin in the same way that you own your house or your car. You own bitcoin in the same way you own the cash in your wallet. It is a bearer instrument. With a $100 bill the piece of paper is the instrument, if someone takes it from you they can spend it. With Bitcoin the instrument is your private key. If someone knows your private key they can send your Bitcoin to another address (their own presumably). So if you store your private key on a piece of paper and someone takes it (or even takes a picture of it) then they can access your Bitcoins. If you store your private key on a computer and someone hacks into it they can take your Bitcoins. This is why I think it is dangerous to hold Bitcoins in a 3rd party account Like an exchange or online wallet like Coinbase. You are trusting a company to keep the key safe. I suggest controlling your own keys and keeping them safe yourself. Interesting. Thanks. So the ledger records all the private keys that are out there? So if I transfer my bitcoin to you, my private key becomes invalidated and you get a new one? What is being recorded on the blockchain? Your key once created never becomes invalid, if you send me all your bitcoin, you will have a zero balance, but if someone sends you more bitcoin you will have a balance again. Once an address exists I don’t think there is a way to remove it. You could have a zero balance for 100 years then receive new coins. The blockchain records which addresses currently contain which bitcoins.

You have your choice of meals 1) Dish A prepared by a chef at a small local restaurant. 2) A Delmonico steak from Delmonico’s in NYC. Which is more risky? Of course #1 is more risky, you aren’t even telling me what it is. A small businessman has the potential to make a lot more from his initial investment by investing his time and money into his business, but it is certainly more risky than just sitting back and being a passive investor in BRK.

Just like McAfee got me hoping that Bitcoin doesn’t hit $500k, now you got me hoping that there really are aliens among us.

Very interesting. Could have wide ranging impact on economies, industry, energy usage etc if they could identify what these technologies & materials are. OK, now things are starting to get crazy. We've got everything discussed before....and now there are "materials" coming off/from UFO's? Materials that scientists have no idea what they are and reportedly have strange effects on people? How did these materials come off UFO's? Was it a UFO broken down by the side of the ride and a panel fell off when it took off? OR was it maybe a shootdown? Or was it a crash? This isn't getting more coverage in the papers? If it is indeed true, I would think this would be pretty big news? Of course, we've got a lot of news with maniac perverts and the political circus to capture the public's attention. I don't know what to make of that story at all. I am also surprised it isn't getting more attention.

Speaking of KO it better get Nestea on the blockchain soon if it wants to compete. You wouldn't want to be in a market where all the other teas are on the blockchain but yours.

http://www.independent.co.uk/news/world/americas/pentagon-ufo-alloys-program-recover-material-unidentified-flying-objects-not-recognise-us-government-a8117801.html?amp&__twitter_impression=true

I hope Warren Buffet changes the name of his company to "Berkshire Blockchain", in seconds it will be the most valuable company in the world leaving Apple in the dust. Unless of course Apple changes its name to Apple Blockchain. Its pretty amazing actually. Even stranger IMO is XIN, highlighted a couple days ago by a fairly well respected author on SA, with real assets, profitability, a dividend, and supposedly blockchain technology partnerships with 58.com and IBM... barely budging 10%. Went long yesterday for a swing trade but it seems like people only want crappy, worthless companies to invest in. Assets, profits, earnings, dividends, blah, blah, blah, but the word "Blockchain" isn't in its name.

I hope Warren Buffet changes the name of his company to "Berkshire Blockchain", in seconds it will be the most valuable company in the world leaving Apple in the dust. Unless of course Apple changes its name to Apple Blockchain.

https://ca.reuters.com/article/businessNews/idCAKBN1EE02J-OCABS Down 20% intraday before eventually closing down 4.5% on the day, & suggestions that some of the punters are exiting …… “However, for Japanese retail investors who are estimated to account for 30 to 50 percent of bitcoin trade worldwide, a more worrying warning may have come from a Japanese day trader guru known as Cis. The individual trader, who claims to own 21 billion yen ($186 million) in assets, tweeted over the last 24 hours that he had sold cryptocurrencies.” Maybe Makoto reads this board? …. “The listing of two bitcoin futures makes it easier for institutional players to trade bitcoins. Futures also enable players to go short on bitcoins, which was difficult without liquid futures,” said Makoto Sakuma, researcher at NLI Research Institute in Tokyo. SD I noticed that Bitcoin Cash went up while Bitcoin was going down. This drop coincided with Coinbase adding Bitcoin Cash. It could just be people moving some money around. $ flowing out of the high price Bitcoin & into the lower price Bitcoin Cash, is a sign that the retail demand/liquidity of Bitcoin is slowing; retail is seeking cheaper alternates. Problem is that Bitcoin is driving the tide, so as the Bitcoin tide ebbs; all boats fall - including the price of Bitcoin Cash, Etherium, etc. Hence either sell now & buyback later, or short via the futures/options markets for very high premiums. The 'trading' game has changed, and the professionals are now at the table. Nothing wrong in that, but either know what you're doing or be as least as good as they are. SD The only problem with your theory is that ETH was hitting all time highs at that same moment. I'm not worried about the so-called "professionals". I've held my own against them in the stock market over the years and I will hold my own against them in crypto as well. I am focused long term and aren't worried about this quarter or next which is the exact opposite point of view from the vast majority of the "professionals".

The neverending quest for a free lunch continues. TANSTAAFL!

In a way you don’t really own your Bitcoin in the same way that you own your house or your car. You own bitcoin in the same way you own the cash in your wallet. It is a bearer instrument. With a $100 bill the piece of paper is the instrument, if someone takes it from you they can spend it. With Bitcoin the instrument is your private key. If someone knows your private key they can send your Bitcoin to another address (their own presumably). So if you store your private key on a piece of paper and someone takes it (or even takes a picture of it) then they can access your Bitcoins. If you store your private key on a computer and someone hacks into it they can take your Bitcoins. This is why I think it is dangerous to hold Bitcoins in a 3rd party account Like an exchange or online wallet like Coinbase. You are trusting a company to keep the key safe. I suggest controlling your own keys and keeping them safe yourself.

https://ca.reuters.com/article/businessNews/idCAKBN1EE02J-OCABS Down 20% intraday before eventually closing down 4.5% on the day, & suggestions that some of the punters are exiting …… “However, for Japanese retail investors who are estimated to account for 30 to 50 percent of bitcoin trade worldwide, a more worrying warning may have come from a Japanese day trader guru known as Cis. The individual trader, who claims to own 21 billion yen ($186 million) in assets, tweeted over the last 24 hours that he had sold cryptocurrencies.” Maybe Makoto reads this board? …. “The listing of two bitcoin futures makes it easier for institutional players to trade bitcoins. Futures also enable players to go short on bitcoins, which was difficult without liquid futures,” said Makoto Sakuma, researcher at NLI Research Institute in Tokyo. SD I noticed that Bitcoin Cash went up while Bitcoin was going down. This drop coincided with Coinbase adding Bitcoin Cash. It could just be people moving some money around.

https://srsroccoreport.com/gold-mining-industry-fuel-costs-explode-in-a-decade/

Sold 85% of my MKL today and bought more BAM.

The design of CBDC's suggests that the IV of a digital currency should be pretty much at parity with its fiat equivalent - roughly 1 CBDC = $1 fiat. Add maybe a 25-100% premium for anonymity and avoidance of transaction fees, and a Bitcoin is intrinsically worth more - how much more depends on the capital controls & overall level of corruption of the nation you're trading in (ie: worth a lot in a Zimbabwe, but not so much in a Canada). Obviously not what many want to hear. SD SD I always appreciate your posts, but I think you are wrong on this. There is no need for CB to issue a blockchain currency. Why would anyone use it? You can already do cashless transactions with your nations currency. There are credit cards and debit cards and apple pay, bank wires, etc... The point of public blockchains is the trust issue. It is that you don't have to trust any CB or other institution. A CB controlled blockchain is missing the entire point all together. There is no value in doing it at all. Sure a country could set this up and require people to use it, but that wouldn't diminish the value of true cryptocurrencies in any way, because that is really nothing truly different than the situation we are already in today.

Nice post. I would add, I think there's a lot of over-thinking going on in this thread, with all due respect. I think there's a real chance Bitcoin has staying power ( periodic plunges aside). It could be as simple as this: https://www.nytimes.com/2017/12/18/opinion/bitcoin-boom-technology-trust.html?_r=0 Thank you for posting this. I think the author nailed it. Right down to his last statement saying that Bitcoin could be the Netscape of this generation. In the end it might not be Bitcoin itself that survives, but something out of this class of technology (or its descendants) is going to change the world, of that I'm sure.

I know about search bots, but would that account for hundreds of views to a single page in minutes? There is no need for google to load the page more than once (unless it changes). I can't think of 100 search engines, are there that many? Maybe there are a lot of other people/companies/government agencies/aliens who are crawling/indexing the web for whatever reason. I don't know.

I haven't done this, but maybe keep an eye out for companies that add "Blockchain" to their name.

You choices here is not when to participate. Yes it may be a lot safer to come in after the 'crash'; but you will be injecting NEW cash, and THINK you know everything - when in fact, you will have zero investment experience with the technology. Whereas your counterpart will be both using HOUSE money, AS WELL AS their investment experience in the technology. Materially less risk, and significantly better prepared to deal with it - is this really the position you want to be in? Yes in your early days there WILL be losses, it's why it is called tuition. SD Good point. Another thing to consider is that, while I think mattee2264 is exactly correct, I also think that we haven't even seen most of the bubble yet. The institutional money has barely started to come in and we haven't yet seen the pension funds and endowments, nor central banks start investing and I think we will see all of that before this crashes. You will see a mania that makes the tech bubble pale in comparison. My prediction is that yes the bubble will pop eventually and we may see a 90% reduction in price, but that even after that 90% reduction in price it might still be higher than it is today. For example BTC=$500,000 pre crash and $50,000 post crash (or even with a 95% reduction it would be $25,000) then taking another 10 years to reach $500,000 again.

That’s like saying you are going to buy up all the gold in the world for it’s current market cap. Do you know what would happen to the price if you tried? You’d send the market cap of crypto into the 100s of trillions. And once you did own all the gold or all the crypto the only thing you could do is sell/spend it for a lot less then you bought it for. Unless you like starring at your blockchain or fondling your cube.

Just hilarious. And things still don't get out of hand. CoBF at its best! S&M on CoBF! Maybe we need a new section for that.

You are correct. I think the word "blockchain" is becoming a trendy buzz word and you will see companies trying to get in on the hype with "blockchain based" this and "blockchain based" that in order to boost their stock price, but a private blockchain where you have to trust the people who control it is nothing but an inefficient database. If it isn't running on a public distributed blockchain then it isn't safe. To answer your first question right now most companies running on public blockchains (or planning to) are using Etherium. There is also IOT, ADA, EOS, NEO, and soon to be released Tezos, which support this kind of thing. Blockchains such as BTC, BCH, LTC, DASH, BTG, XMR, etc ... are just currencies. There is also Ripple which is only a currency and a private blockchain which I think will be valueless long term for the reasons that you enumerated (you have to trust Ripple the company). There is going to be a lot of money thrown at a lot of valueless things for a long time based on hype, buzzwords, and outright fraud before people in general understand this stuff.

Maybe a very small % of the bulls actually understand the technology. Most people are just jumping on the hype... recently had a friend (kind of a stoner, never invested in his life, does some football gambling) tell me he's concidering going into bitcoin as it seems like a guaranteed investment. ;D Based on the number of investors many of which just jumped in the last month and own very little you are correct, but weighted by the number of coins owned SnarkyPuppy is correct.