Bitcoin to 500k by 2030

[Bouncer]

Da fuq. Its dumping

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No it's not. It's been very stable since the weekend. Going back and forth in a narrow range. Something big is gonna happen very soon. Way too stable the last few days for Bitcoin.

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[boricuarage79]

Market is scary stable right now. Pump or dump incoming in the next 24 hours.

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Da fuq. Its dumping

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[Bouncer]

Market is scary stable right now. Pump or dump incoming in the next 24 hours.

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[boricuarage79]

The man himself
.give no fucks

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[boricuarage79]

Follow Cz on twitter (owner of Binance) he posts updates there...

https://twitter.com/cz_binance?lang=en

I follow binance

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[Keiser]

Damn nearly had a heart attack when i checked my binance... showed like 700p something satoshis!!...im like.. been hacked...
Check the actual website. Sams shit...

Went on reddit and these dumb fucks are doing a system upgrade, so they down for a few hours..

Phaggots don't have the common courtesy to send an email, but send when money thrown at them

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Follow Cz on twitter (owner of Binance) he posts updates there...

https://twitter.com/cz_binance?lang=en

[boricuarage79]

Damn nearly had a heart attack when i checked my binance... showed like 700p something satoshis!!...im like.. been hacked...
Check the actual website. Sams shit...

Went on reddit and these dumb fucks are doing a system upgrade, so they down for a few hours..

Phaggots don't have the common courtesy to send an email, but send when money thrown at them

Sent from my SM-G950F using Tapatalk

[Keiser]

the average price to mine BTC is around $6500. That means the current price has bottomed out, it wont stay this low for very long. If it does people will stop mining and BTC will be bought up and held. This in turn will drive up the price making it profitable to mine again and up BTC goes again. this is the last major dip before the climb into fall and winter. look at the charts from last year. July - Aug tends to be bullish where June has typically been bearish.

I think I read that for the largest miner in China, the price to mine is $3200. It probably is $6500 in the US.

[Keiser]

Guys, I wasn't expecting this bear market this summer. Nobody was in my groups. However crypto isn't going anywhere and for those of you new to the game this is a great time to buy. You got lucky.

[Bouncer]

ETFs Could Lead Bitcoin Price to $35,000 and It Isn’t Far Away

Road to $35,000: Institutional investors or ETFs

Prominent investors including Ari Paul, the co-founder of BlockTower, a cryptocurrency hedge fund founded by former Goldman Sachs executive, have said that the next mid-term rally will likely be triggered by institutional investors potentially before the end of 2018.

Paul said that the last barrier preventing institutional investors from entering the cryptocurrency market is the lack of trusted custodianship and a suite of institutional cryptocurrency products. Upon the completion of Coinbase’s custodian solutions and the approval of digital asset companies to operate as custodians, institutional investors may enter the cryptocurrency market.

Paul said:

“Institutional money started trickling into cryptocurrency in mid 2017, but it’s been slower than many expected. That doesn’t mean it’s not coming. There are a lot of pieces that need to come together, one big piece being third party custody. Custody isn’t binary. It’s not like Coinbase custody will launch and suddenly every pension will throw $100 million into BTC. It takes time for custody solutions to gain trustworthiness. But, I think we’ll have solid third party custody by September of this year.”

The entrance of institutional investors into the cryptocurrency market isn’t the only way major digital assets like bitcoin can increase massively in value. The emergence of publicly tradable instruments like ETFs could also fuel the next rally, and researchers at IronWood believe that ETFs will be the fuel of the next mid-term rally.

Undoubtedly, the market is in amidst of a bad correction, in fact the third worst correction since 2014. The bitcoin price has fallen 65 percent from their all-time highs and retail investors have started to become more pessimistic in the short-term trend of the market.

But, as it did in 2010, 2014, and 2016, the market is seeing an accumulation period, during which companies start to build products and infrastructures that are necessary to fuel the next rally.

Michael Strutton, the CEO at IronWood, explained in a column that if an ETF is approved by the US Securities and Exchange Commission (SEC), anyone with a 401k, IRA, or an investment account with brokers like Fidelity and Ameriprise Financial can easily invest in the bitcoin market. Strutton noted that the result of a bitcoin ETF could be the price of BTC rising to at least $26,000 and below $44,000. He said:

“If ETFs add 24 million US investors and the upward momentum adds 14 million from the rest of the world, then that adds $84 billion and $336 billion, respectively, to the market cap. Over the past six months, Bitcoin’s market cap has swung from $326 to $110 billion. Adding $420 billion to the market cap could put Bitcoin price range from $26,000 to $44,000.”

State of ETFs

The Winklevoss twins, who currently oversee a major cryptocurrency exchange based in the US called Gemini, are working on their own exchange-traded fund (ETF) called Coin. SolidX, who had their ETF turned down by the SEC last year, has partnered with VanEck to increase its chances of being approved by the SEC.

Eric Balchunas, an ETF analyst at Bloomberg, said that a collaboration with VanEck, an ETF manager that oversees 70 ETFs and $45 billion, could pay off and drastically increase the probability of a bitcoin ETF being approved by the US government.

https://www.newsbtc.com/2018/06/25/r...isnt-far-away/

[Bouncer]

the average price to mine BTC is around $6500. That means the current price has bottomed out, it wont stay this low for very long. If it does people will stop mining and BTC will be bought up and held. This in turn will drive up the price making it profitable to mine again and up BTC goes again. this is the last major dip before the climb into fall and winter. look at the charts from last year. July - Aug tends to be bullish where June has typically been bearish.

[boricuarage79]

$17 Billion Deleted From Cryptocurrency Market in 24 Hours as Ethereum Falls 7%
Bitcoin price
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The cryptocurrency market has recorded a loss of over $17 billion in the past 24 hours, triggered by the loss of major cryptocurrencies including Bitcoin, Ethereum, Ripple, Bitcoin Cash, and EOS.

EOS recorded the largest loss amongst major digital assets, demonstrating a loss of more than 10 percent overnight. Ethereum, Bitcoin Cash, Litecoin, Stellar, and Cardano fell behind EOS, falling by just over 7 percent.



What Triggered the Sell-Off?
On previous reports, CCN noted that the cryptocurrency market is still in a bear cycle and that it had only initiated a corrective rally, not a bull rally. In mid-June, the market seemed more stable than any other period throughout the past two months. But, the unforeseen hacking attack of Bithumb, South Korea’s largest cryptocurrency exchange, terminated the corrective rally of the market and led major cryptocurrencies to a short-term decline.

Prior to the Bithumb hack, the cryptocurrency market had shown significant momentum, as Bitcoin rebounded from $6,300 to $6,700. But, the breach of the most widely utilized digital asset trading platform in South Korea, the third biggest cryptocurrency market behind the US and Japan, led investors to panic, even though the outcome was not particularly detrimental.

On June 21, CCN reported that Bithumb confirmed $30 million was stolen from its hot wallet and has started to cooperate with the Korea Internet and Security Agency, a sub organization of the Ministry of Science and ICT, to minimize its losses. The Bithumb team stated that the $30 million figure could decrease in the future, as KISA and Bithumb security experts initiate various recovery efforts.

“After the incident occured on June 20, Bithumb quickly followed the procedure to immediately report [the] incident to KISA announcing that about 35 billion Korean Won worth amount of cryptocurrency was stolen. However, as we undergo recovery process on each cryptocurrency, the overall scale of damage is getting reduced. Hence, we expect that the overall damage will be less than the amount we initially expected,” the Bithumb team said.

Bithumb also confirmed that with company funds, valued around $450 million, the exchange will be able compensate its investors fully with ease, as the stolen amount only accounted for around 6 percent of company funds.

Hence, the end result of the Bithumb security breach was not detrimental to the point of triggering a 6 percent cryptocurrency market correction. Rather, it was the end of an optimistic short-term corrective rally triggered by Bithumb that led the cryptocurrency market to experience a minor correction.

Where Ethereum Goes Next
Ethereum experienced the biggest loss amongst major cryptocurrencies today alongside EOS, and given that smaller cryptocurrencies and tokens follow the trend of BTC and ETH, the short-term trend of ETH is important to observe.

Various momentum indicators indicate neutral zone for ETH. The Relative Strength Index (RSI) of ETH is at 40.5 and the MACD of ETH is demonstrating a buy signal. But, a neutral signal for ETH, in a strong downward trend, could mean that its decline could be prolonged to the higher end of the $400 region, from the current price of ETH at $503.

[boricuarage79]

Thursday marked a historic day for bitcoin, as the flagship cryptocurrency made its first appearance in an opinion published by the US Supreme Court.
The case,*Wisconsin Central Ltd. v. United States, did not involve bitcoin’s regulatory or legal status. Rather, it examined whether employee stock options represent taxable compensation under the Railroad Retirement Tax Act of 1937.
That may seem like an unlikely place for a discussion of bitcoin to appear, however, as justices noted in both the majority and dissenting opinions, the case forced them to consider a fundamental question that has also taken on a renewed importance in the decade following the publication of the Bitcoin whitepaper: “What is money?”
Ultimately, the 5-4 majority ruled that employees should not be taxed for exercising stock options since the action does not constitute “money remuneration.”
However, writing in a dissenting opinion, Justice Stephen Breyer argued for a “broader understanding of money” and said that stock options should be classified as taxable compensation.
Breyer’s opinion, which included a citation to*Money: The Unauthorized Biography — From Coinage to Cryptocurrencies, used bitcoin as an example of the changing nature of money and theorized that “perhaps one day employees will be paid in Bitcoin or some other cryptocurrency.”
He wrote (citations omitted):

“Moreover, what we view as money has changed over time. Cowrie shells once were such a medium but no longer are; our currency originally included gold coins and bullion, but, after 1934, gold could not be used as a medium of exchange; perhaps one day employees will be paid in Bitcoin or some other type of cryptocurrency. Nothing in the statute suggests the meaning of this provision should be trapped in a monetary time warp, forever limited to those forms of money commonly used in the 1930’s.“

Justices Ruth Bader Ginsburg, Sonia Sotomayor, and Elena Kagan joined Breyer in his dissent.
While Thursday marked the first instance of the word “bitcoin” being included in a Supreme Court opinion, it’s unlikely to be the last. In fact, cryptocurrency’s perceived association with drug trafficking and other criminal activities could make a prominent appearance in a case whose petition is currently pending before the Court.
As CCN*reported, Ross Ulbricht — operator of now-defunct dark web marketplace Silk Road — has appealed his conviction to the Supreme Court, arguing that the government violated his Fourth and Sixth Amendment rights during the investigation and sentencing (he is serving a life sentence without parole).
While the Supreme Court has not yet said whether it will hear Ulbricht’s case, legal expert Tom Goldstein has said that there is a “reasonable chance” that the constitutional questions raised by Ulbricht’s petition would earn a hearing from the Court “in an appropriate case.”


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[Bouncer]

Why Central Banks Are Fearful of Bitcoin

Central banks have no love lost for Bitcoin and cryptocurrencies. Even though some positive things are happening, the overall sentiment remains predictably rather negative. The validity of cryptocurrencies and their decentralized technologies are still in question, especially by banks. It isn’t the first time central banks feel the need for Bitcoin to have a central body giving the currency any real value.

Determining the Value of Bitcoin

A lot of people and institutions struggle with determining the value of Bitcoin. A decentralized form of money which isn’t centrally issued or controlled poses many different challenges. Moreover, it also raises the question as to whether or not this form of money can ever have any tangible value. Although Bitcoin has a market price, it tends to fluctuate quite regularly.

For central banks, this is a clear indicator Bitcoin is too volatile. There have certainly been many ups and downs along the way over the past nine years. Every year, it seems there is a bearish trend prior to the Bitcoin price spiking upward again. Throughout 2018, that bearish trend has become very apparent, reducing the value of one Bitcoin by nearly two-thirds in the process.

Compared to gold, Bitcoin is a lot more volatile. At the same time, it is evident gold has also lost some appeal when it comes to investing, even though it is still a decent store of value. Some people have also attributed that label to Bitcoin, even though it is clearly too volatile to carry that burden. That said, the value of Bitcoin has held its own quite well compared to a year ago, as it is still quite a bit higher compared to June 19th of 2017. At that time, one BTC had a value of around $2,500.

The “Need” for a Central Body

One of the discussions that comes to the surface quite often is the lack of centralization in Bitcoin. More specifically, there is no central developer, company, bank, or government, responsible for maintaining the world’s leading digital currency. It is a very different take on the entire concept of money, and one central banks still struggle with today. Finance is, for banks, all about trust – we have no choice but to trust them with our money. Bitcoin, on the other hand, is completely trustless, and therein lies the threat to banks which profit on the finances of others.

In fact, some experts go as far as claiming Bitcoin is an existential threat to central banks, even referring to it as “The Napster of Money”. Additionally, it is an alternative to traditional banking. That doesn’t necessarily mean it will succeed, but it poses an interesting concept. The peer-to-peer nature of Bitcoin should not be overlooked either. Even so, it is safe to say the Bitcoin price has simply gotten ahead of how far the technology has come over the years.

All of this creates a very interesting future for cryptocurrencies. The ‘changing of the guard’ in finance will happen sooner or later. No one knows if cryptocurrencies will succeed in that regard, or will remain investment vehicles for speculators first and foremost. Until Bitcoin’s technology matures, it will not be used as a traditional currency all that much. Thankfully, things are improving in this regard, courtesy of the Lightning Network, among other things. Other faster blockchains and cryptocurrencies already exist and they put banking technology in the dark ages.

https://www.newsbtc.com/2018/06/19/c...fraid-bitcoin/

[boricuarage79]

indeed.. the stocks are slumping and dow erasing 2018 gains.

the beginning of the crypro era is emerging