Days late and dollars short

A few weeks ago I mentioned that one on my loans on BTC pop was in default. Well just the other day I finally received a insurance payout. I invested 0.00386900 but I got  back  .00143100 instead, the biggest issue is the loan was due just a little more than a week after it was created on 07/07/2016. But because it defaulted, I wasn’t paid until the insurance payout came, just a few days ago. So my money was tied up for a long time and generated no interest. So I lost money, and I lost the opportunity to make interest on my money. But this is all part of the risk of lending to people.

The insurance system uses collateral held by the borrower to help guarantee repayment of the loan. This loan was insured using shares of POP, which is stock in BTCpop. There are a few other stocks offered on BTCpop, but in my opinion POP is probably the best. After all, my biggest worry is that BTCpop might go the way of Mt. Gox. If it did, all of the securities would become worthless. But, none POP shares also have the risk that the company itself will go under, in other words, they can become worthless in two different ways.

Well, I guess this Ivan fellow hasn’t given me any money. But at least he gave me a ok story. This is the loan, if you wanted to see it for yourself.

I just tested my link and you need an account to view it. Fortunately, you can sign up free here.

Failed bitcoin reporter

I guess it's a good thing this blog isn't my primary source of income, otherwise I would be in trouble. Here are two stories of me attempting to do some reporting and things not going so well. I decided to try to find Hash Ocean’s old office in San Francisco. On Google, the address is 199 Leidesdorff St, San Francisco, CA 94111. But I went there and didn't find it.

This is where the 100 buildings should be. But there is only a sandwich shop. So I must've done something wrong.

About a year ago on empleopled I saw a picture of a bitcoin ATM. I thought it was cool so I wanted to take a picture of it. I moved to San Jose, where the mall is, and I decided to check it out. But I explored all over the mall and couldn't find it.  I'm moving away again for school, but I guess I will have to wait for another year until I come back to San Jose to try again. I also tried to contact the photographer, but wasn’t able to. Here is a link to the photo.

Once more into the exchange

Once more into the exchange

I decided to check out http://www.btc38.com/ as an earthcoin exchange. WolfessStudios mentioned it before on /r/earthcoin. Signing up was quite simple; I simply logged in using my facebook. Finding the actual earthcoin exchange, however, took a minute. There isn’t a search function so you have to visually search for it.

First you need to click BTC list. Then, scroll to the bottom of the list and you will see EAC/BTC

Now I need to figure out what prices to trade at. The market looks busier than I remember it being when I traded EAC/BTC on cryptsy.

Earthcoin is out of this world

It looks like my favorite earthcoin faucet is now offline. http://earthcoin.cyanrainbow.com/faucet

This wasn’t my favorite faucet in general by a long shot, but it was the only decent earthcoin one. I guess I might need to find a new one. But in my experience, it's actually better to just use a bitcoin or dogecoin faucet and just exchange them for whatever speculative alt coins you want. Before I do any of this, I probably need to find my earthcoin wallet. It's on my computer somewhere.

In fact, it looks like its 63th in terms of market cap( It was actually 57th when I first wrote this article)! Which is crazy.

Like always, check out the faucets I do use. In a future post I will write about exchanging your bitcoin for earthcoin!

Possible Price explanation

As you may know, bitcoin news has been in abundance the past weeks, from the halving event to a bitcoin ETF possibly getting sec approval.

In addition, Brexit has brought into question a once safe haven currency, and possibly affected the safe haven status of the euro. After all, what might happen to the euro if Francexit and all the other new -exits, happen?

All of these events seem to be playing a role in the price of bitcoin. In addition, many bitcoiners say that Chinese investors are another driving factor of price. The Chinese government manipulates the price of the Yuan to help maximize their exports. A cheaper Yuan means more demand for Chinese goods. At the same time, this means that everyday people in China have lost value as the currency they hold is worth less than it was before.

I have updated my faucets page and support me page! Check them out, they have some nice ways to help me make money and ways fr you to make some money as well.

"sendo litoshi to bitcoin account"

Using some of my blog analytics I noticed someone found my blog using the phrase “sendo litoshi to bitcoin account”. I was quite baffled by this. What does sendo even mean ( By the way, litoshi is like a satoshi, but for bitcoin, in other words, its 0.00000001 of a litecoin)? So I decided to google it and attempt to find my blog. I didn’t find it, instead I found another blog on blogspot. So I clicked on that, perhaps creating or perpetuating some kind of cycle.

The blog is kind of similar to my own, except it's in Portuguese and it reads like one massive post.


Anyways, for a quick plug, I have updated my faucets page and support me page! Check them out, they have some nice ways to help me make money and ways for you to make some money as well.

Months late and a few dollars short.

You might think blogging about cryptocurrency is all fun and games. Well, that's not always the case. I have lost some money in the past, but I may have lost some more again.

One of my loans on btcpop may default.  It is now quite a few days late. I had one loan that was about 3 or 4 days late, but this one is now 5 days late and the borrower hasn’t been heard from in a few days. Fortunately, I never lend much money out to one person at one time. I diversify my loans over time and over people. This way, if one person defaults, which may be the case, it's not the end of the world. I have other loans that will probably be repaid and I will come out ok. I also diversify over time, I don't make many loans at once. This way, if the P2P bitcoin loans industry hits a problem, I don't lose all my money either.

In addition to being a few bucks short, I am behind the times on my cryptocurrency news. Ethereum is apparently the number two coin in terms of market cap ($ 971,423,765 as of the time of this article). I heard about it quite a while ago, but I didn’t think that it would really grow into what it became. I was wrong. It did become something big, and now I will probably have to report on it. Ethereum is quite different from bitcoin in a few ways. One, it is not merely a digital currency. Ethereum is primarily like a digital computer; it enables people to create contracts that execute code under certain conditions. Ethereum also differs technically from bitcoin. In addition, Ethereum had a substantial premine.

More information is available here. This is a bitcoin site I recently started to follow.