Bitcoin Blog a1

Wednesday, August 16, 2017

Approaching Moon?

I’m off on vacation right now, so I don’t have much time to report, but Bitcoin’s price is going crazy. It is over $4,000 at the time of writing this.  In addition, interest rates on margin lending is quite low, meaning the market isn’t confident that Bitcoin will lower in price. Which might mean there is still potential for upward movement. Here we can see margin loan supply on Polo:

Here is another more mainstream article on Bitcoin; however, it does seem to get some information wrong. In particular, it implies that hacking the blockchain is the same thing as hacking a particular exchange, which is totally incorrect. In addition, its criticism that “Bitcoin values are purely dependent upon holders having faith they will continue to have value” is something all currency share. The US dollar has no value except the value that people give to it, and likewise if people universally stopped accepting USD it would lose its value as well.

Also, I made a new page for my ebook, check it out here

Monday, August 7, 2017

Russia and Bitcoin News

I always found it interesting that a large portion of my Audience is from Russia, especially considering Bitcoin's questionable legal status there. I recently found this article on Bitcoin in Russia. Which talks about a few interesting points I did not know. For a preview of some, it appears the Kremlin was interesting in making its own digital currency as well as the idea that Russia is becoming more accepting of Cyprocurrencies. Anyways, enjoy!

Sunday, July 30, 2017

Where should I put my Bitcoin for the fork?

As I mentioned in my last post, there is a possible hard fork in Bitcoin coming up on August 1st. So where should you keep your bitcoin during this fork? Coinbase and many, if not most, exchanges will not honor btcc or bcc or alternative chains. Well, not btcpop they believe the market will determine the best chain and they will credit their users with bcc. Some other services like Xapo are doing something similar. However, due to their invasive privacy questions, I can’t recommend them.

It seems people have caught onto this trend as there is a huge shorting demand for Bitcoin right now on Polo. Polo has margin trading where you can sell bitcoin you don’t own or, more likely in this case, hold it in your wallet during the fork and get BTC and BCC.

I also have two small things I discovered this week. One is a new exchange opening up that is offering tokens to new users, check them out here.

And the other is a game where you can earn dogecoin. Despite my best efforts, I wasn’t able to actually earn any dogecoin… Other players kept eating me and taking it. So it's an interesting idea and game, maybe check it out. It's a bit like a mutliplayer pac-man.

Thursday, July 20, 2017

Bitcoin and the Fed, Plus Possible Fork?

On the 12th, while Janet Yellen was testifying to congress, a bitcoin enthusiast held up a sign saying “buy bitcoin.”

In another post, we can see he included a bitcoin address. I don’t know why he did this. It seems like a cheap trick to make a little money. Regardless, someone has taken this to the next level and created a downright scam. Here on Reddit, someone photoshopped the bitcoin address, and replaced it with what we can only assume is their own bitcoin address.

Also, there are some interesting things happening with a possible fork, here is one of the bitcoin blogs I follow for more. Read my past article on this topic here. The gist is that a fork may happen on August 1st, but probably not. Either way, I would make sure you have your bitcoin in your wallet in time for the fork. If the fork goes through, to my understanding, you will basically have those coins in two blockchains. Now, this doesn’t mean the value of your BTC and alternative chain BTC will double, but it would be like having two different cryptocurrencies.

Tuesday, July 11, 2017

Video: Mt. Gox Memories

Kind of cute little video I found on youtube, enjoy!

To end, George Santayana once said,  "Those who cannot remember the past are condemned to repeat it."

Friday, July 7, 2017

Short update: Reddit News

I haven’t had much time to report on Cryptocurrency news lately (and I probably won’t for another month or so), but here are some interesting things I have found lately. Apparently Bithumb, a large cryptocurrency exchange, was hacked. Here is a Reddit link to learn more.

Also on the subject of Reddit, here is a list of the top cryptocurrency subreddits.  You might notice number 1 and number 6 are both Bitcoin related. This is due to a raging battle between two ideologies. /R/Bitcoin is known to censor opposing points of view, they don’t allow people to discuss Segwit or Bitcoin unlimited (read more on this here). /R/BTC doesn’t seem to censor differing opinions. The BTC community also complains about the hostility found on /R/Bitcoin. I personally have experienced that too (As well as people who think they understand economics, but really don't).   

Lastly, here is a link to an interesting thread in Reddit about which coins people don’t own and why. Sometimes is difficult to get real criticism and this might be a good place to get some.

Friday, June 23, 2017

Don’t use Yobit

As you may have noticed, lately my blog has been getting a lot of spam comments. I just want to make it clear I don’t endorse these websites or products. In fact, I recommend staying away from many of them.

Specifically, I contacted the support team at Yobit, one of the worst spammers. It looks like it is just some guy with an affiliate link, but the company was unwilling to do anything about it. In addition, the support team clearly does not speak English as a first language. In short, stay away from Yobit. Support is lacking and they empower spammers.