100% Complete Bitcoin Price History Graph + Related Events ...
100% Complete Bitcoin Price History Graph + Related Events ...
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Bitcoin (BTC) price, history charts & useful analytics ...
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Axion - A Global Currency, Built To Serve The People
What is Axion? Per Axion's website:
AXION is the answer to our global financial markets that are on the brink of disaster. The original solution to this impending collapse was Bitcoin, a decentralized peer-to-peer currency. However, since its inception, certain aspects of Bitcoin, such as lack of speed and high fees, have shifted Bitcoin into more of a store-of-value than a currency. Axion is the currency to address that. With a high-interest time-locked savings account, Participants in the Axion Network are rewarded daily.
Rewards people, not the corporate elite
Global & Scalable
How is AXION distributed?
Anyone holding Hex2T (pre-sale) tokens will receive AXION at a rate of 1:1
Hex holders will also receive AXION 1:1, limited at 10M AXION tokens. Hex holders will also be auto-locked for a year, with 2% releasing weekly. More details can be found in the whitepaper. If Hex holders do not claim their AXION tokens, they will become available for purchase in the Daily Auction every week.
The Daily Auction
Putting Tokens and Value into your pocket.
To get Axion, it needs to be claimed by Hex & Hex2T holders, the longer they wait to claim, the more penalties they face. About 2% of their total per week. This 2% is added into a daily auction pool where people can bid using ETH on the Axion tokens within it. If you bid 10% of the ETH on that day, you get 10% of the pool rewards. 80% of the ETH paid in the auction is then used to hyperdrive both the Axion token and the stakers earnings. First, the ETH is used to purchase the tokens, boosting the token price, and then those tokens are distributed to stakers, creating a very strong positive feedback loop.
Axion is on the path to becoming the ideal global currency.
For the first time in history, inflation is increasing the purchasing power of the people within the network. Axion has partnerships lined up to be integrated in online and in-person payment solutions, where you can pay for nearly everything in your every-day life using Axion. The merchants can accept FIAT (converted from Axion), or Axion itself. This is a global movement.
Axion: Built to Scale
500 Billion Initial Total Supply 1:1 Freeclaim ratio for Hex2T and Hex holders 80% of ETH Earned in auctions is used to buy back tokens 8% Annual inflation that goes Directly to stakers 100% of all purchased tokens Are distributed to stakers No Auto-Stake For hex2t holders 100% autostake for hex holders
How to buy:
**Video Tutorials:**Metamask Install – https://www.youtube.com/watch?v=htyEeKNHX5ABuy/Sell Axion (HEX2T) – https://www.youtube.com/watch?v=vYZBOkHIM5k How Do I Buy Axion (HEX2T)? Step One: Purchase Ethereum from your exchange of choice (Coinbase, Binance, etc). You can also purchase Ethereum through Metamask and have it sent directly to your Metamask wallet (More details on this in Step Three). If buying through Coinbase, you’ll have the option to use a linked bank account or a debit card. Funds purchased via linked bank account will have a hold period while the bank transaction clears, funds purchased via debit card will be available for use instantly. Step Two: Install the Metamask desktop browser extension and set up your Ethereum Wallet. You may also install the Metamask app on your Android smartphone and follow the same set up process in the linked video. (Apologies iOS users, the iOS Metamask app has restrictions that disable necessary features, you’ll have to use the desktop browser extension) Step Three: Once you have your Metamask wallet set up and your seed words properly saved, it’s time to deposit Ethereum to your wallet. – If you’ve purchased Ethereum on an exchange such as Coinbase or Binance, you’ll have to copy your wallet address from Metamask and withdraw the Ethereum from the exchange to your Metamask wallet address that you just copied. Be sure to check the wallet address multiple times before sending as transactions can not be reversed. – If you’d like to purchase Ethereum directly through Metamask, you can do so using the Wyre fiat gateway that is integrated into Metamask. Step Four: Now that you have Ethereum in your Metamask wallet, you can head over to our listing on the Uniswap Exchange to purchase Axion (HEX2T). We recommend using Fast GAS to speed up your transactions. You may also have to click on the gear icon in the top right on Uniswap to adjust your slippage limit when buying larger amounts. – If using the Metamask app on Android, you’ll have to access the in-app browser through the menu (three bars top left of app) and paste the provided link. – You will see a “From” input that should have ETH as the selected currency pointing to a “To (estimated)” output that should have HEX2T as the selected currency. The “From” input is the amount of Ethereum you will be spending and the “To (estimated)” output is the amount of HEX2T that you will receive for that amount of Ethereum. – Once you enter the amount of Ethereum you’d like to spend, the button at the bottom of the page should say “Approve”. This “Approve” function allows the exchange to access Ethereum in your wallet, which is necessary to complete this transaction. You’ll click the “Approve” button and the exchange will send a transaction to your wallet, which you will have to confirm. Wait for that Approve transaction to clear and once it does the button should change from “Approve” to “Swap”. – Now that you’ve given the exchange permission to use the Ethereum in your wallet, you can click the “Swap” button. This will send another transaction to your wallet that you’ll have to confirm. Once that transaction clears, you’ll have successfully purchased HEX2T with Ethereum! Side Note: If you can’t see the HEX2T that you’ve purchased in your Metamask wallet’s Asset list, you’ll have to add the token to your Asset list. At the bottom of the Asset list you will see an “Add Token” button, click on that and you’ll see a “Search” and a “Custom Token” tab. Click on the “Custom Token” tab and paste the following address (0xed1199093b1abd07a368dd1c0cdc77d8517ba2a0) into the “Custom Token Address” field, the rest of the info should auto-fill. Then click the “Next” button in the bottom right, and it should display your HEX2T balance, click the “Add Tokens” button and you should now see your HEX2T in your Asset list. **How Do I Sell Axion (HEX2T)?**To sell Axion (HEX2T), you essentially do the inverse of what you did to purchase it.Step One: Head over to Uniswap Exchange and click on ETH in the “From” input, a drop down list will appear and you’ll select HEX2T. In the “To (estimated)” output, click on “Select a Token” and select ETH. To clarify, if you want to sell, HEX2T should be on top, ETH should be on bottom. Step Two: Enter the amount of HEX2T you’d like to sell in the “From” input, the button at the bottom of the page should say “Approve”. This “Approve” function allows the exchange to access HEX2T in your wallet, which is necessary to complete this transaction. You’ll click the “Approve” button and the exchange will send a transaction to your wallet, which you will have to confirm. Wait for that Approve transaction to clear and once it does the button should change from “Approve” to “Swap”. – Now that you’ve given the exchange permission to use the HEX2T in your wallet, you can click the “Swap” button. This will send another transaction to your wallet that you’ll have to confirm. Once that transaction clears, you’ll have successfully sold HEX2T for Ethereum! If at any point you feel that you need help in this process, please do not hesitate to join our fast growingDiscordorTelegram.Once you’re in either of those communities you’ll be able to ask an admin or moderator for assistance.
Their legal proposal is 95% complete, per their Discord announcement - and most likely be finished in the coming days.
I keep hearing "Deflation before massive inflation"
So what can we do about it? Any ideas are welcome. It has a lot of "what if's"... It depends how tax and law play out with it.Historically speaking:
Commodities and things people use every day become expensive,
Luxury goods fall in value.
Inflation wipes out all savings, there is often a rush to spend money while it has value. "Bank runs" and "Bank Bail in's" where the bank will limit your withdraws to prop up the bank temporarily. Sure here the FDIC may insure it, but its nothing if your money is losing value by the hour and it takes months to get it actually into your hands. And many countries have issues with a person holding cash..."You're automatically a drug dealer! >your money is now drug money! >Asset forfeiture" ...I cant count how many times this happens.
People yell " physical gold and silver!" ... yeah, those do hold value well, however the gov does tax that at 26-30% when sold, and will often ban its use in dire times. ....huge grey / pirate area.
Mining stock is the same in the tax range, and nearly anything you "resell", imposed taxes and royalties can be added leaving you high and dry.
Precious metal holdings have been banned in the past, even here in the USA...aka Government confiscation.
Nationalization of Precious metals mines have happened.
Edit: I now realize there are many ways stocks can play out.
Real Estate will raise in value hugely, However so will the taxes, longer contracts at fixed rates benefits the lendee.
Things that you use, if you can stock or invest in it.
-I stock bulk diesel for my cars while following historical averages to buy cheap.
-Rotating food stock
-Extra maintenance items, including the big things like a roof on your home if its coming time. Not joking I have a spare water heater and backup heating options, along with minor parts and filters to fix them. Same with cars and engines, (spark plugs, filters (all different filters), oil, cheap sensors that usually go bad and are only 4-10$ each, 1-2 extra alternator per vehicle, belts, mowing belts, bearings, grease, ... and I've literally had to use everything on that list and reorder.)
Things that directly pay you back or are insurance. Saving money is making money.
-Security, Locks, Alarms, Cameras, people steal.
A deep freezer for instance can stock food you use and buy on sale.
Solar energy and solar heating supplements energy you use anyways
Rainwater can be collected and used rather than buying from a source.
A cooking gadget vs eating out.
Tools and learning to fix things vs hire.
House insulation.-Better insulative windows, and sealing.
Bidet on toilet (lol serious though...)
Your education can be a huge one, not just for prepping but also in your work.
Things that prevent rot, fire, flood / humidity, or failure. Humidity is a silent killer to many preps. (water sump pumps, dehumidifiers, leak prevention, fire extinguishers / sprinklers, )
Things that last and can be resold on the street if need be. This list can be huge, you have to balance it with liquidity, what you use but can also sell before it goes bad / fails.
Honestly and unpopularly, Things that can avoid tax when the price inflates out of control and you wish to sell. The numbers can be so distorted in both price and taxing of income. Eggs for instance, in many countries from Weimar Republic of Germany to Venezuela, increased 15,000%+, So that $15,000 egg / $150,000 dozen that you sold from your chickens gets taxed in the highest tax bracket? (which can go into the 90% range if rules aren't changed for the massive inflation) Taxes usually try raising during this and many companies flee the country, add robots / machines, or downsize as the result of more taxes making work and jobs even more of an issue. .. honestly history shows the whole thing being a cluster-duck in so many ways. Alternative currencies pop up, actual trades happen and go unreported, crime even shifts when things get too bad, again with Venezuela, I read that criminals were moving to other countries because the people were too poor to even make anything robbing! You can also have a business where you write off so many things that you would use anyways. The numbers get... err... odd, play the game.
It is usually around 10 years of chaos before things start "stabilizing." and even then, so much damage has occured.
This is a serious thing that has happened to once prosperous people / civilizations in the past...don't think you're exempt, especially when the numbers are at historical limits in many countries. Invest in yourself and what you use regularly.
For someone not familiar with Bitcoin, the first question that comes to mind is, "What is Bitcoin?" And another common question that is often asked relates to the Bitcoin price. It started out a under 10 cents per Bitcoin upon its introduction in early 2009. It has risen steadily since and has hovered around $4000 per Bitcoin recently. So regarding Bitcoin value or the Bitcoin rate this is a most remarkable appreciation of value and has created many, many millionaires over the last eight years. The Bitcoin market is worldwide and the citizens of China and Japan have been particularly active in its purchase along with other Asian countries. However, recently in Bitcoin news the Chinese government has tried to suppress its activity in that country. That action drove the value of Bitcoin down for a short time but it soon surged back and is now close to its previous value. The Bitcoin history chart is very interesting. Its creator was an anonymous group of brilliant mathematicians (using the pseudonym Satoski Nakamoto) who designed it in 2008 to be "virtual gold" and released the first Bitcoin software in early 2009 during the height of the USA economic crisis. They knew that to have lasting value, it like gold had to have a finite supply. So in creating it they capped the supply at 21 million Bitcoin. Bitcoin mining refers to the process by which new Bitcoin is created. With conventional currency, government decides when and where to print and distribute it. With Bitcoin, "miners" use special software to solve complex mathematical problems and are issued a certain number of Bitcoin in return. A question that then arises is, is Bitcoin mining worth it. The answer is NO for the average person. It takes very sophisticated knowledge and a powerful computer system and this combination of factors makes it unattainable for the masses. This applies even more to bitcoin mining 2017 than in past years. Many wonder, who accepts Bitcoin? This question gets asked in various ways, what are stores that accept bitcoin, what are websites that accept bitcoins, what are some retailers that accept bitcoin, what are some places that accept bitcoin and where can I spend bitcoin. More and more companies are beginning to see the value of accepting cryptocurrencies as a valid payment option. Some major companies that do are DISH network, Microsoft, Expedia, Shopify stores, Newegg, Payza, 2Pay4You, and others.Two major holdouts at this time are Walmart and Amazon. Ethereum is the strongest rival to Bitcoin in the cryptocurrency market and many wonder at the question of Bitcoin vs Ethereum. Ethereum was created in mid-2015 and has gained some popularity but still ranks far behind Bitcoin in usage, acceptance and value. A question that often comes up often relates to Bitcoin scam. This author has a friend who made a purchase from a company that promised 1-2% growth per day. The company website listed no contact information and after a couple months the website simply vanished one day and my friend lost all the money he had invested which was several thousand dollars. One has to know how to buy Bitcoins, how to purchase Bitcoin or how to buy Bitcoin with credit card in order to get started. Coinbase is a very popular site to do this. Their fee is 3.75% and the buying limit is $10,000 per day. This would probably be the easiest way to buy bitcoins. Others would like to buy Bitcoin with debit card. Coinbase also provides this service and has clear step by step instructions on how to proceed with either your debit or credit card. There are those who would like to buy Bitcoin instantly. This can be done at Paxful, Inc. and can be done through W. Union or any credit/debit card. Other common questions that come up are what is the best way to buy Bitcoins, the best way to get bitcoins or where to buy bitcoins online. The easiest way is probably to purchase it through a digital asset exchange like the previously mentioned Coinbase. Opening an account with them is painless and once you link your bank account with them you can buy and sell Bitcoin quite easily. This is quite likely also the best place to buy Bitcoins. One must know what a Bitcoin wallet is and how to use it. It is simply the Bitcoin equivalent of a bank account. It allows you to receive Bitcoins, store them and send them to others. What it does is store a collection of Bitcoin privacy keys. Typically it is encrypted with a password or otherwise protected from unauthorized access. There are several types of digital wallets to choose from. A web wallet allows you to send, receive and store Bitcoin though your web browser. Another type is a desktop wallet and here the wallet software is stored directly on your computer. There are also mobile wallets which are designed for use by a mobile device. A question that occasionally comes up is that of Bitcoin stock or how to buy Bitcoin stock. By far the most common way to proceed in this area is to buy Bitcoin directly and not its stock. There is one entity called Bitcoin Investment trust which is an investment fund that is designed to track the market flow of Bitcoin. Some analysts however are calling this a risky way to become involved in this marketplace. The Bitcoin exchange rate USD is a closely watched benchmark both on a daily basis and long term over the last 8 years since its introduction to the world's financial marketplace. A popular company to receive the most current rate in Bitcoin valuation is XE. They show Bitcoin to USD valuation and also the complete Bitcoin price chart, the Bitcoin value chart and the Bitcoin to USD chart. If you ask, "How much is one Bitcoin?" you will always know from their continuously updated charts. Similar questions that come up in this area relate to the bitcoin rate history, the bitcoin price chart live, the bitcoin to dollar exchange rate, the bitcoin dollar chart and the bitcoin 5 year chart. The previously mentioned website, xe, is also a good source for answers to these questions. Regarding Bitcoin cash, ie. to get USD from selling Bitcoin, Bitwol is one company that enables you to do this. WikiHow is another company that will take you through this process.
Well, February 22nd makes it one whole year. I think that's deserving of a top level post, right? Here are screenshots of the Mint Trends, which has every single expense from the past year categorized. I've added comments on each page. Expenses Overview Auto Expenses Food Expenses Home Expenses Utility Expenses Tax Expenses Healthcare Expenses Entertainment Expenses Main takeaways, my total expenses for the year was $37,700, but I'm going to dismiss about $15,000 of that as "one time" expenses from paying off my car and my furniture loan. A more reasonable number for my annual spend is $22,700. With my car payment gone, my highest expense category is Food, averaging $500 per month. This has room for improvement. Healthcare will look artificially low last year because of taking Tax Credits up front. This year I am not and will be paying $325 per month for health insurance. At ~$4000 per year, this puts healthcare at nearly 20% of my total expenses. Nothing else is particularly interesting. That $22,700 figure is a reasonable real-world number for me, but for future planning I'd still inflate that to $25,000 just to have more wiggle room. I may look into traveling this year, which would add some expense. Investments: Vanguard Investments: (All in VTSAX)
Traditional IRA: $299,000 -> $348,000
Roth IRA: $14,500 -> $18,150
Brokerage: $18,400 -> $22,900
Total Rollup: $331,800 -> $389,100. ~17% return
Other LTCG holdings: $145,000 -> $291,000 (other investment accounts and bitcoin) HSA Investment Account: $6000 -> $7400, with another $1700 in the "cash" holdings of the HSA. $9000 cash in Money Market & Checking Account. Finances Going Forward I had earned income last year so I didn't start my Roth Conversion Ladder last year. This year I decided I will be converting the $12,400 standard deduction + $9600 of the first tax bracket for a nice round $22,000 converted. Yes I'll owe a little bit of taxes, but it sets up my Roth with $22k in 5 years which should cover the majority of my expenses. And with $350k currently in tIRA and converting $22,000 per year, I won't be able to chew through it all before actual retirement age. I have about $20k from an old stock purchase plan that unlocks come April, which I will be selling and likely moving over to my money market account to shore up my "cash" holdings. My plan is to not really tap any of my "normal" investment accounts for as long as possible. I've been deferring to selling Bitcoin if I need to move some cash over. Last year I sold 3 bitcoin, one for $9300 in June, and then two at the end of December (for tax year Capital Gains reasons) for $7300 each. These were all LTCG at 0% taxed. AGI for last year is around $35,000. The Living Part: There's all the boring expenses and financial stuff. Now for the ever painful question that my beloved Grandmother loves to ask, "But gosh, what do you do with all of your time! I can't imagine being retired at your age!" Step 1, restful sleep. During my working career I lived off 6 hours of sleep every day. It made for exhausting weekends trying to "make it up." And luckily I'm not a generally stressful person or else it'd have been worse. But now I go to bed when I'm tired, and whenever I naturally wake up, I get up. This can lead to VERY weird hours since I'm often an extreme night owl. But I generally get 9-10 perfect restful uninterrupted dream-filled hours of sleep. I'm betrayed by my "Food Expense" breakdown, but I really am cooking more and eating better. I drink a lot of coffee and water at home and generally try to eat only one meal per day, but sometimes lunch and dinner. I don't normally eat breakfast, just have coffee when I wake up. And did I mention how much less painful it is to go grocery shopping when it's in the middle of the day and everyone's at work. It's so nice. I spend a lot of time on reddit browsing my front page, and I check out the YouTubers I follow that post daily, then check out any of the irregular posters. Depending on how much good stuff there is, this could go on for a few hours. I have a lot of hours playing video games. I tend toward puzzle games or building games (Factorio, Satisfactory) because they scratch that itch in my engineering brain. There are times at night where I'll spend hours on this website: https://www.puzzle-sudoku.com/ and play Sudoku or Nonograms or any of the other puzzle types on the bottom of the page. I'm doing my best to watch every single last show on Netflix. It's a daunting task, though it's surprising how often I drift back toward watching the same smattering of Star Trek: The Next Generation episodes rather than try something new. But I try and take recommendations and work my way through shows. And Podcasts! The joy of joys is when I come across a new-to-me podcast that has a huge backlog. I found a great ST:TNG rewatch podcast that had 108 episodes already done. I spent like 2 months watching the episode of TNG then immediately listening to their podcast about that episode, repeat repeat repeat. I'm currently working my way through The Adventure Zone, I'm on episode 46 of 155 with them. And they keep advertising the other podcasts The McElroys do so I'm sure I'll roll into one of those next. For many people podcasts are background noise, but I'll often just sit on the couch and concentrate on just listening the podcast. Outside of home, I can't wait for the weather to get nicer so I can go on more walks. Being a night owl I like going for walks at night. I live near our city center so I'm within blocks of city hall, the main library branch, and the fountain / park. I jump at any opportunity to hang out with friends. It's just about every weekend that we are getting together to hang out and play board games. Like I mentioned in one of the breakdowns, I've started to play D&D with my buddy and his wife. I'd never played before but he's been DMing for years (but hasn't had a group for 10+ years now). He's glad to be playing again, his wife loves it, and it's super convenient for them to stay home with the 5 month old daughter. (And baby gets to hang out with Uncle Oracle.) I get together with former co-workers every few months to keep in touch with them. One in particular I have a standing every-2-month bar date with. I remind them every so often that if they want to go out to lunch ever to just call me. Personal History Just a quick personal history in closing. I was an automotive engineer working for OEMs and Tier 1 suppliers in the Metro Detroit area. In the 2008 downturn I lost my job and was unemployed for 2 years and ended up getting my house foreclosed in 2010. By the time i got a job in March of 2010 I was basically at $0. I had a tiny amount in an 401k, had about $20,000 in credit card debt from being unemployed. But then I got a very well paying engineering job ($108k annual and eligible for time-and-half overtime). I kept living like I was unemployed, spent as little as possible and saved as much as possible. Through my parents I secured a mortgage on a nice 1 Bed / 1 Bath 900 sq ft condo. I paid off my CC debt in less than a year and kept banking cash and maxing my 401k every year. I heard about bitcoin in early 2013 (from a guildmate in World of Warcraft, believe it or not) and jumped on board. All time bitcoin price chart (log scale) for those unfamiliar with the history. I got in before the first spike to $1000 in December of 2013, and kept buying throughout the downswing in 2014 / 2015. In 2017 I sold 5.6 BTC for a total of $6000 and paid off the last of my student loans and my car, then a few months later I sold 4.25 BTC for $6700 and paid off the last of my condo mortgage. So in May of 2017 I was officially debt free and had a net worth of about $200,000. Then in the fall of 2017 was when bitcoin exploded. I knew I had to take profits here. Every time the price went up 10% I sold another bitcoin. $7500, $9000, $10700, $13000, $15500, $18600. I sold all the way up. I ended up selling about $100,000 in bitcoin that year and I pushed most of it into my Roth IRA and Brokerage accounts. Then I really started thinking about FIRE in early 2018. Started doing the math, tried to see what my expenses would be, and thought I'd give it ago. I've told myself from day 1 that I'd give this trial a solid 2 years. If I don't feel good about it, or the money doesn't seem right, then I'll still only be 40 years old and could (IMO) easily jump right back into an engineering gig. So I targeted early 2019 so I could frontload my 401k for two months, grab the annual bonus, then peace out. TL:DR: 38, FIREd, Money's looking right, Life is feeling right, everything is fine
Hope everyone is having a good ass day today. This might be long. Please upvote so others are more likely to see in their feeds. I have really wanted to start sharing my other forms of trading with you guys. I trade forex and did well this week betting on usd strength against the safe haven currency Japanese yen. I’m also invested at $2,200 into a crypto currency called cindicator. I have 392,197 shares. Trying to get to 700,000 for access to their highest tier of trading indicators. I’ve followed this company for a long ass time and their product is great. If the price gets back to its high of $0.37, it’s a 6,959% profit for me. I’m expecting it to hit AT LEAST a dollar during this next bull run due to cnd/btc charts. Crypto currencies are similar to pennystocks in their volatility. I also have very good evidence that bitcoin is about to start moving up very rapidly. The halving event that pushed it up to $20,000 just happened again two weeks ago. I and probably everyone else are expecting $100,000 bitcoin by October 2021 due to bitcoin stock to flow model. That indicator was designed by some billion dollar hedge fund manager and its accuracy is something I’ve never seen before. Please read the bottom half where it explains how that indicator works. Truly impressive. I’m also learning how to trade SPY options, and I just made my first winning trade after a week of losing by buying SPY 298c 5/29 So my question is, are you interested in learning other forms of trading? By order of difficulty, we’d start with crypto currency. Mainly bitcoin and a handful of others. It’s pretty straightforward until you get into cold storage. Then forex which is complicated, and options further down the line after I understand them fully. Or if the consensus is forex or options, we’ll start there. My main goal in Reddit is to make you guys better traders/ investors. One of my next personal goals is to get my series 7 and 65 licenses and do this shit professionally. I’ve done the math, and if my average return in forex at ~10% per month stays consistent, managing $5,000,000 in client money and charging 20% would mean I make $80,000 a month. I’m currently building my trading history on Oanda as the first step in this process. So if you start seeing me in suits and ties on my streams, you’ll know what’s up. Let me know if you’re interested. I’m not sure how I would do it. Maybe just include [BTC] in my headlines about crypto currency stuff when I post so that it’s easy to skim over for those not interested. I don’t want to start an isolated subreddit or anything like that.
Testing the Tide | Monthly FIRE Portfolio Update - June 2020
We would rather be ruined than changed. -W H Auden, The Age of Anxiety This is my forty-third portfolio update. I complete this update monthly to check my progress against my goal. Portfolio goal My objective is to reach a portfolio of $2 180 000 by 1 July 2021. This would produce a real annual income of about $87 000 (in 2020 dollars). This portfolio objective is based on an expected average real return of 3.99 per cent, or a nominal return of 6.49 per cent. Portfolio summary Vanguard Lifestrategy High Growth Fund – $726 306 Vanguard Lifestrategy Growth Fund – $42 118 Vanguard Lifestrategy Balanced Fund – $78 730 Vanguard Diversified Bonds Fund – $111 691 Vanguard Australian Shares ETF (VAS) – $201 745 Vanguard International Shares ETF (VGS) – $39 357 Betashares Australia 200 ETF (A200) – $231 269 Telstra shares (TLS) – $1 668 Insurance Australia Group shares (IAG) – $7 310 NIB Holdings shares (NHF) – $5 532 Gold ETF (GOLD.ASX) – $117 757 Secured physical gold – $18 913 Ratesetter (P2P lending) – $10 479 Bitcoin – $148 990 Raiz app (Aggressive portfolio) – $16 841 Spaceship Voyager app (Index portfolio) – $2 553 BrickX (P2P rental real estate) – $4 484 Total portfolio value: $1 765 743 (+$8 485 or 0.5%) Asset allocation Australian shares – 42.2% (2.8% under) Global shares – 22.0% Emerging markets shares – 2.3% International small companies – 3.0% Total international shares – 27.3% (2.7% under) Total shares – 69.5% (5.5% under) Total property securities – 0.3% (0.3% over) Australian bonds – 4.7% International bonds – 9.4% Total bonds – 14.0% (1.0% under) Gold – 7.7% Bitcoin – 8.4% Gold and alternatives – 16.2% (6.2% over) Presented visually, below is a high-level view of the current asset allocation of the portfolio. [Chart] Comments The overall portfolio increased slightly over the month. This has continued to move the portfolio beyond the lows seen in late March. The modest portfolio growth of $8 000, or 0.5 per cent, maintains its value at around that achieved at the beginning of the year. [Chart] The limited growth this month largely reflects an increase in the value of my current equity holdings, in VAS and A200 and the Vanguard retail funds. This has outweighed a small decline in the value of Bitcoin and global shares. The value of the bond holdings also increased modestly, pushing them to their highest value since around early 2017. [Chart] There still appears to be an air of unreality around recent asset price increases and the broader economic context. Britain's Bank of England has on some indicators shown that the aftermath of the pandemic and lockdown represent the most challenging financial crisis in around 300 years. What is clear is that investor perceptions and fear around the coronavirus pandemic are a substantial ongoing force driving volatility in equity markets (pdf). A somewhat optimistic view is provided here that the recovery could look more like the recovery from a natural disaster, rather than a traditional recession. Yet there are few certainties on offer. Negative oil prices, and effective offers by US equity investors to bail out Hertz creditors at no cost appear to be signs of a financial system under significant strains. As this Reserve Bank article highlights, while some Australian households are well-placed to weather the storm ahead, the timing and severity of what lays ahead is an important unknown that will itself feed into changes in household wealth from here. Investments this month have been exclusively in the Australian shares exchange-traded fund (VAS) using Selfwealth.* This has been to bring my actual asset allocation more closely in line with the target split between Australian and global shares. A moving azimuth: falling spending continues Monthly expenses on the credit card have continued their downward trajectory across the past month. [Chart] The rolling average of monthly credit card spending is now at its lowest point over the period of the journey. This is despite the end of lockdown, and a slow resumption of some more normal aspects of spending. This has continued the brief period since April of the achievement of a notional and contingent kind of financial independence. The below chart illustrates this temporary state, setting out the degree to which portfolio distributions cover estimated total expenses, measured month to month. [Chart] There are two sources of volatility underlying its movement. The first is the level of expenses, which can vary, and the second is the fact that it is based on financial year distributions, which are themselves volatile. Importantly, the distributions over the last twelve months of this chart is only an estimate - and hence the next few weeks will affect the precision of this analysis across its last 12 observations. Estimating 2019-20 financial year portfolio distributions Since the beginning of the journey, this time of year usually has sense of waiting for events to unfold - in particular, finding out the level of half-year distributions to June. These represent the bulk of distributions, usually averaging 60-65 per cent of total distributions received. They are an important and tangible signpost of progress on the financial independence journey. This is no simple task, as distributions have varied in size considerably. A part of this variation has been the important role of sometimes large and lumpy capital distributions - which have made up between 30 to 48 per cent of total distributions in recent years, and an average of around 15 per cent across the last two decades. I have experimented with many different approaches, most of which have relied on averaging over multi-year periods to even out the 'peaks and troughs' of how market movements may have affected distributions. The main approaches have been:
An 'adjusted income' approach - stripping out the capital gains components of Vanguard funds to reach an estimate of underlying income generation, both across the entire investment period, and during the sharpest low of the Global Financial Crisis
A long-term asset class approach - relying on long-term historical data on averages of the income produced by various asset classes
A 'tax method' approach - this derives an income estimate as a percentage of the portfolio by drawing on taxable investment income totals from tax return records
Simple historical rolling average - this is a rolling three-year measure, based on the actual distributions record of the portfolio
Average distribution rate approach - this method uses a long-term average of annual distributions received as a percentage of the total portfolio since 1999
Each of these have their particular simplifications, advantages and drawbacks. Developing new navigation tools Over the past month I have also developed more fully an alternate 'model' for estimating returns. This simply derives a median value across a set of historical 'cents per unit' distribution data for June and December payouts for the Vanguard funds and exchange traded funds. These make up over 96 per cent of income producing portfolio assets. In other words, this model essentially assumes that each Vanguard fund and ETF owned pays out the 'average' level of distributions this half-year, with the average being based on distribution records that typically go back between 5 to 10 years. Mapping the distribution estimates The chart below sets out the estimate produced by each approach for the June distributions that are to come. [Chart] Some observations on these findings can be made. The lowest estimate is the 'adjusted GFC income' observation, which essentially assumes that the income for this period is as low as experienced by the equity and bond portfolio during the Global Financial Crisis. Just due to timing differences of the period observed, this seems to be a 'worst case' lower bound estimate, which I do not currently place significant weight on. Similarly, at the highest end, the 'average distribution rate' approach simply assumes June distributions deliver a distribution equal to the median that the entire portfolio has delivered since 1999. With higher interest rates, and larger fixed income holdings across much of that time, this seems an objectively unlikely outcome. Similarly, the delivery of exactly the income suggested by long-term averages measured across decades and even centuries would be a matter of chance, rather than the basis for rational expectations. Central estimates of the line of position This leaves the estimates towards the centre of the chart - estimates of between around $28 000 to $43 000 as representing the more likely range. I attach less weight to the historical three-year average due to the high contribution of distributed capital gains over that period of growth, where at least across equities some capital losses are likely to be in greater presence. My preferred central estimate is the model estimate (green) , as it is based in historical data directly from the investment vehicles rather than my own evolving portfolio. The data it is based on in some cases goes back to the Global Financial Crisis. This estimate is also quite close to the raw average of all the alternative approaches (red). It sits a little above the 'adjusted income' measure. None of these estimates, it should be noted, contain any explicit adjustment for the earnings and dividend reductions or delays arising from COVID-19. They may, therefore represent a modest over-estimate for likely June distributions, to the extent that these effects are more negative than those experienced on average across the period of the underlying data. These are difficult to estimate, but dividend reductions could easily be in the order of 20-30 per cent, plausibly lowering distributions to the $23 000 to $27 000 range. The recently announced forecast dividend for the Vanguard Australian Shares ETF (VAS) is, for example, the lowest in four years. As seen from chart above, there is a wide band of estimates, which grow wider still should capital gains be unexpectedly distributed from the Vanguard retail funds. These have represented a source of considerable volatility. Given this, it may seem fruitless to seek to estimate these forthcoming distributions, compared to just waiting for them to arrive. Yet this exercise helps by setting out reasoning and positions, before hindsight bias urgently arrives to inform me that I knew the right answer all along. It also potentially helps clearly 'reject' some models over time, if the predictions they make prove to be systematically incorrect. Progress Progress against the objective, and the additional measures I have reached is set out below. Measure Portfolio All Assets Portfolio objective – $2 180 000 (or $87 000 pa) 81.0% 109.4% Credit card purchases – $71 000 pa 98.8% 133.5% Total expenses – $89 000 pa 79.2% 106.9% Summary The current coronavirus conditions are affecting all aspects of the journey to financial independence - changing spending habits, leading to volatility in equity markets and sequencing risks, and perhaps dramatically altering the expected pattern of portfolio distributions. Although history can provide some guidance, there is simply no definitive way to know whether any or all of these changes will be fundamental and permanent alterations, or simply data points on a post-natural disaster path to a different post-pandemic set of conditions. There is the temptation to fit past crises imperfectly into the modern picture, as this Of Dollars and Data post illustrates well. Taking a longer 100 year view, this piece 'The Allegory of the Hawk and Serpent' is a reminder that our entire set of received truths about constructing a portfolio to survive for the long-term can be a product of a sample size of one - actual past history - and subject to recency bias. This month has felt like one of quiet routines, muted events compared to the past few months, and waiting to understand more fully the shape of the new. Nonetheless, with each new investment, or week of lower expenditure than implied in my FI target, the nature of the journey is incrementally changing - beneath the surface. Small milestones are being passed - such as over 40 per cent of my equity holdings being outside of the the Vanguard retail funds. Or these these retail funds - which once formed over 95 per cent of the portfolio - now making up less than half. With a significant part of the financial independence journey being about repeated small actions producing outsized results with time, the issue of maintaining good routines while exploring beneficial changes is real. Adding to the complexity is that embarking on the financial journey itself is likely to change who one is. This idea, of the difficulty or impossibility of knowing the preferences of a future self, is explored in a fascinating way in this Econtalk podcast episode with a philosophical thought experiment about vampires. It poses the question: perhaps we can never know ourselves at the destination? And yet, who would rationally choose ruin over any change? The post, links and full charts can be seen here.
\This post has been written by Hedgehog, an MCS influencer and one of Korea's famous cryptocurrency key opinion leaders.* https://preview.redd.it/bbpp5xnhqph51.png?width=1024&format=png&auto=webp&s=a20d1f5bafd59fa278e1ed677a510f505efd77df #Be_a_Trader! Greetings from MCS, the derivatives trading platform where traders ALWAYS come first. Cryptocurrency traders are realizing valuable profits through intense trading in their own way. The strategy I am going to share with you is not complicated and may not be the best strategy, but it is a way to trade Bitcoin that is 100% profitable.
🎯 Bitcoin Trading Strategy with 100% Profitability
https://preview.redd.it/k2g3j0ajqph51.png?width=1300&format=png&auto=webp&s=f51122288180606dd46c3a4b0cfc7af2ebd844d0 Once MCS traders have a complete understanding of funding fees, you can start trading Bitcoin with 100% profit. This trading strategy is called the 1x Short Strategy. Due to the nature of the Bitcoin perpetual contract inverse product, if I take a 1x short position, my bitcoin quantity will vary depending on the bitcoin price, but strangely my assets will remain constant. In this situation, if you receive funding fees, you will continue to accumulate huge interest. If you are new to the 1x short strategy, you may have not resonated with the details above. I will now explain the details one by one below.
👉 How Can My Assets Be The Same When The Bitcoin Quantity Fluctuates?
https://preview.redd.it/svtr2hwjqph51.png?width=1386&format=png&auto=webp&s=3a252e579956ea055ee3d97e270191b0edb20526 The above chart is a shows the BTC profit and loss when entering the 1x short position with 1 BTC at 10,000 dollars (blue line) and holding 1 BTC as it is (red line). When 1 BTC is held as it is, the amount of BTC does not change depending on the price change. However, if I took a 1x short position with 1 BTC for 10,000 dollars, my BTC profit or loss will fluctuate as shown in the in the blue line according to the change in BTC price. You don't have to worry too much if a 1x short position generates BTC profit or loss. Let's look at the chart below. https://preview.redd.it/3vclmzhkqph51.png?width=1388&format=png&auto=webp&s=9a45d517a0264e8d215d94e4ca95877e8514630a In the chart above, the blue line is a position of 1x short with 1 BTC at 10,000 dollars, and the red line is just holding 1 BTC. In this chart, you can see how the value of the asset changes according to the price change. In a glance, you can see that the value of 1 BTC changes according to the price changes. Surprisingly, the blue 1x short position line stays stable in value. I believe that the more experienced MCS traders realized why the value of the 1x short remained constant. However if you encountered this for the first time, it may be a little difficult to understand. For everyone who did not completely understand, I will explain the 1x short strategy with an example.
💡 Example: Suppose Hedgehog has 1 BTC in his MCS account and the current BTC price is $10,000. Hedgehog entered 10,000 short contracts with 1x leverage at $10,000 using 1 BTC as margin. Then this can be organized as follows. Hedgehog's Original Capital = 1BTC Hedgehog's Original Fiat Capital = $10,000 Over time, the price of Bitcoin has reached $15,000. Many traders believe that for a short position, if the price increases, there will be a loss. However there is an exception for 1x short positions. Hedgehog's BTC quantity and asset value can be summarized as follows. Short Position PNL Equation = (1/Average Closing Price - 1/Average Entry Price) * Quantity As time has passed, the Bitcoin price is assumed to be $15,000, so the average end price = $15,000 Since Hedgehog entered 10,000 short contracts at $10,000 with 1x leverage, average entry price = $10,000, contract quantity = 10,000 contracts If substituted, (1/15000 - 1/10000) * 10000 = -0.33333333BTC Hedgehog's loss in BTC is -0.33333333 BTC. Hedgehog's current BTC Holdings = 1BTC - 0.33333333BTC = 0.66666667BTC Hedgehog's Asset Value = 0.66666667BTC * $15,000 = $10,000.00005
Wait What‼️ Although the amount of BTC decreased, the price of bitcoin increased by the amount of lost BTC, and the asset value of Hedgehog remained the same.‼️ It is the same in the scenario when the bitcoin price falls. In the case of a 1x short position, if the bitcoin price falls, the amount of BTC increases accordingly, but the bitcoin price decreases, so the asset value of Hedgehog remains at about $10,000. Do you now understand how the 1x short strategy freezes the asset value? Let's move onto the 2nd question.
👉 But Receiving Funding Fees For Short Position Isn't Guaranteed
Cardano is a Blockchain project, also called 3rd generation Blockchain because of its scientific philosophy, designed and developed by a team of worldwide scientists and engineers. The aim of the project is to develop a technology that is secure, flexible and scalable and can therefore be used by many millions of users. In contrast to other projects, Cardano pursues a policy that seeks to reconcile the needs of the user with those of the regulatory authorities, combining privacy with regulation. Cardano’s vision is that the project will lead to greater global financial integration for all people by providing all people with open access to fair financial services. Cardano wants to create a technological platform on which financial applications can be developed and executed. It has basically great similarities with Ethereum. Cardano is a platform such as Ethereum, EOS or NEO that enables the creation of new tokens and decentralized applications (dApps) and smart contracts. From a technical point of view, however, there are major differences which we will discuss later. The cryptocurrency of Cardano is ADA. Like any crypto currency, ADA allows the user to send assets within the Cardano network seamlessly over the Internet in a secure and fast manner. You can find the current price of ADA on our chart page.
Cardano was founded by Ethereum co-founders Charles Hoskinson and Jeremy Wood after both left the Ethereum project after a disagreement over further development. While the later Cardano founders wanted to create a commercial enterprise behind Ethereum, Vitalik Buterin’s group was able to assert itself by setting up a charitable foundation behind the project. Logically, Hoskinson and Wood founded a company, Input Output Hong Kong (IOHK), to manage Cardano’s research and development. Between September 2015 and January 2017, Cardano conducted a public ICO that raised a total of 62 million US dollars. About two thirds of all Ada tokens were sold. Cardano was officially launched on 29 September 2017. Currently the project is still in its bootstrap era (“Byron”). In the bootstrap era, when people buy or sell Ada, the transaction is automatically delegated to a pool of trusted nodes that manage the network. They do not receive block rewards in this phase of the project. IOHK is currently working on numerous improvements and features. The next phase “Shelley” is to be introduced in 2019. In this phase, the project will grow into a fully decentralized and autonomous system. This will be followed by the “Goguen” era, in which the integration of smart contracts is planned. This is followed by the “Basho” phase, which is intended to improve performance, and finally the “Voltaire” phase, which is intended to add a treasury system and a governance model (“Liquid Democracy”). The complete roadmap can be seen here.
The organization behind Cardano
As already written, Charles Hoskinson has decided to found the company IOHK in order to guarantee a coordinated and planned development of the project. IOHK is responsible for the design, development and maintenance of the Cardano platform until 2020. In addition, however, there were originally two other institutions that took care of the Cardano project: Emurgo and the Cardano Foundation, based in Switzerland. Emurgo is a Japanese company that is also currently pushing partnerships with other commercial companies and organizing Cardano’s business development. In particular, the Cardano Foundation was entrusted with administrative tasks. Otherwise the Foundation was responsible for public relations, trademark law, lobbying and cooperation with governments and regulators. In October 2018, however, there was a break between IOHK/ Emurgo and the Cardano Foundation. Among other things, Hoskinson has accused the Cardano Foundation under the direction of Michael Parsons of inaction. As a result IOHK and Emurgo decided to take over the tasks of the foundation.
Cardano: 3rd generation blockchain
Charles Hoskinson has recognized that 2nd generation blockchains still have many open problems to be successful in the long run. These are in particular scalability, interoperability and sustainability. Cardano has (partly) developed new concepts and technologies for this purpose.
In terms of scalability, there are three challenges for Cardano:
Transactions per second (TPS)
Network / Bandwidth
Transactions per second
The Transactions per Second (TPS) measure how many transactions per second can be written to a block. According to Hoskinson, however, this is only part of the problem of scaling. While Bitcoin 3-7 TPS and Ethereum 10-20 TPS create, this is far from enough to host millions of users. The solution to this problem is Cardanos Ouroboros Proof-of-Stake algorithm, which we will discuss later.
A further challenge is the network, which will also have an exponentially increasing demand for network resources with millions of users as the demand increases with the number of transactions. The demand will grow in size regions of several hundred terabytes or even exabytes. Therefore, it will be impossible to maintain a homogeneous network topology in which each node forwards each transaction and message. Not every node will have the necessary resources. To solve this problem, Cardano intends to use a technology called RINA.
Since the blockchain has to store the data forever, there will be an enormous and constantly growing amount of data to be scaled (“Data Scale”). The problem is obvious. If every node has to keep a complete copy of the entire blockchain, this will not be possible for every node from the point of view of resources. The solution is that not every node needs all data. The solution approaches therefore include in detail:
Charles Hoskinson believes that there will not be a single crypto currency to be used in the future. Therefore Cardano aims at enabling the different blockchains to communicate with each other. Cardano’s vision is to create an “Internet of blockchains” in which there is no intermediary. A solution to this problem should be for Cardano, Sidechains. The concept has been around in crypto space for quite some time. Simply put, sidechains are parallel blockchains that can communicate with the main blockchain. In addition, Cardano tries to comply with all existing compliance rules: KYC (Know Your Customer), AML (Anti Money Laundering), ATF (Anti Terrorist Financing). In order for this to work, Cardano provides metadata to each transaction.
According to Hoskinson, sustainability is the most difficult challenge. Basically, it means that continuous developments must be carried out on the system. This requires financial resources. Both a patronage and an ICO do not make sense for Hoskinson. Patronage leads to centralization, while ICOs provide short-term resources for the ecosystem, but at the same time produce a new, useless token. For this reason, Cardano is oriented towards Dash’s treasury system. Each time a block is added to the block chain, a portion of the rewards is added to the Treasury. If funds are needed for development, they can be allocated. To this end, Cardano has developed a governance model (“liquid democracy”) in which stakeholders can vote on a proposal for the distribution of funds.
Ada: Ouroboros Proof-of-Stake
Similar to Ethereum’s future proof-of-stake (PoS) “Casper”, Cardano also relies on a PoS. This means that there are no miners within the Cardano network responsible for validating transactions. A new proof-of-stake algorithm called Ouroboros was developed for Cardano. The basic difference between Ouroboros and Ethereum’s Casper or other similar algorithms is how block premium recipients (validators) are selected. The core idea of the Ouroboros Proof of Stake is that a node is selected to create a new block with a probability proportional to the total number of Ada. This means that the more Ada a stakeholder has, the more he can earn over time. In principle, each node with an Ada credit balance greater than 0 is referred to as a “stakeholder”. When a node is selected to create a new block, it is called a slot leader. The slot leader writes the transactions into a block, signs this block with his secret key and publishes the block in the network. A fundamental problem in this electoral process is randomness. To achieve this, Cardano uses a Multiparty Computation (MPC) approach in which each voter independently performs an action called coin tossing (Coin-Fllipping Protocol).
New Lands, or New Eyes? | Monthly FIRE Portfolio Update - April 2020
The real voyage of discovery consists not in seeking new landscapes, but in having new eyes. - Marcel Proust, Remembrance of Things Past This is my forty-first portfolio update. I complete this update monthly to check my progress against my goal. Portfolio goal My objective is to reach a portfolio of $2 180 000 by 1 July 2021. This would produce a real annual income of about $87 000 (in 2020 dollars). This portfolio objective is based on an expected average real return of 3.99 per cent, or a nominal return of 6.49 per cent. Portfolio summary Vanguard Lifestrategy High Growth Fund – $697 582 Vanguard Lifestrategy Growth Fund – $40 709 Vanguard Lifestrategy Balanced Fund – $76 583 Vanguard Diversified Bonds Fund – $110 563 Vanguard Australian Shares ETF (VAS) – $174 864 Vanguard International Shares ETF (VGS) – $31 505 Betashares Australia 200 ETF (A200) – $215 805 Telstra shares (TLS) – $1 625 Insurance Australia Group shares (IAG) – $7 323 NIB Holdings shares (NHF) – $5 904 Gold ETF (GOLD.ASX) – $119 458 Secured physical gold – $19 269 Ratesetter (P2P lending) – $12 234 Bitcoin – $158 360 Raiz app (Aggressive portfolio) – $16 144 Spaceship Voyager app (Index portfolio) – $2 435 BrickX (P2P rental real estate) – $4 471 Total portfolio value: $1 694 834 (+$127 888 or 8.2%) Asset allocation Australian shares – 40.9% (4.1% under) Global shares – 21.7% Emerging markets shares – 2.2% International small companies – 3.0% Total international shares – 26.9% (3.1% under) Total shares – 67.8% (7.2% under) Total property securities – 0.3% (0.3% over) Australian bonds – 4.5% International bonds – 9.9% Total bonds – 14.4% (0.6% under) Gold – 8.2% Bitcoin – 9.3% Gold and alternatives – 17.5% (7.5% over) Presented visually, below is a high-level view of the current asset allocation of the portfolio. Comments This month featured a sharp recovery in the overall portfolio, reducing the size of the large losses experienced over the previous month. The portfolio increased by over $127 000, representing a growth of 8.2 per cent, which is the largest month-on-month growth on record. This now puts the portfolio value significantly above the levels of a year ago. [Chart] The expansion in the value of the portfolio has occurred due to an increase in Australian and global equities markets, as well as substantial increases the price of Bitcoin. This is effectively the mirror image of the simultaneous negative movements last month. From a nadir of initial pessimism in late March, markets have generally moved upwards as debate continues about the path of a likely economic recession and recovery from Coronavirus impacts over the coming year. [Chart] First quarter distributions from the Australian and Global Shares ETFs (A200, VAS and VGS) were received this month. These were too early to fully reflect the sharp economic activity impacts of the Coronavirus and lockdown period on company earnings. Despite this, they were significantly down on a cents per unit basis on the equivalent distributions last year. Totalling around $2700, these distributions formed part of new contributions to Vanguard's Australian shares ETF (VAS). The rapid falls in equity have many participants looking forward to a return to normalcy, or at least more open to the pleasing ideas that nerves have been held in a market fall comparable to 2000 or 2008-09, and that markets now represent clear value. As discussed last month, there should be caution and some humility about these questions, if some historical perspective is taken. As an example, the largest global equity market in the world - the United States - remains at valuation levels well above those experienced in previous market lows. Portfolio alternatives - tracking changes under the surface A striking feature of the past year or so has been the expansion of the non-traditional or 'alternatives' components of gold and Bitcoin as a proportion of the overall portfolio. Currently, when combined these alternative assets form a greater part of the portfolio than at any point over the past two years. The chart below shows that since January 2019 the gold and Bitcoin component of the portfolio has lifted from around its long term target level of 10 per cent, to now make up over 17 per cent of the portfolio. In the space of the last four months alone, it has lifted from 13 per cent. [Chart] With no purchases of either gold or Bitcoin over the period, the growth in the chart is the result of two reinforcing factors: A substantial fall in the value of the equity portfolio - reaching nearly $200 000 since the recent February market peak has naturally and mathematically led to a commensurate increase the proportion of other assets. Increases in the value of gold and Bitcoin - have also played a role with a total appreciation of around $150 000 across the two assets over the past 16 months. In fact, the value gold holdings alone have increased by over 40 per cent since January last year. Further appreciation of either gold or Bitcoin prices, particularly if any further falls in equity markets occur, could easily place the portfolio in the same position as experienced in January 2018. At that time these alternative assets made up 1 in every 5 dollars of the portfolio, an unusual, and in that case temporary phenomenon. This represents a different portfolio and risk exposure than that envisaged in my portfolio investment plan. Yet, equally it is critical to recall what the circumstances would likely be for this to arise. Simultaneously high gold and Bitcoin prices are more likely to occur in a situation of severe capital market dislocation, or falling confidence. On the other hand, should confidence and equity market growth be restored, both of these portfolio components could fall back to lower levels. It is difficult to tell which state of the world will eventuate, a key reason for diversification across asset types. United States government debt is already at record levels - equivalent in real terms to levels last seen when it emerged out of the Second World War - despite no similar national effort having being undertaken. Future inflation can potentially partly manage this burden, however, the last sustained episode of persistently high inflation rates during the decade of the 1970s spelt negative real returns. Where investors expect future inflation or financially 'repressive' policies of inflation exceeding interest rates, the economic growth required to 'grow out' of debt can be affected. At this point, my inclination is to address this circumstance gradually through time by re-balancing of distributions and new contributions, rather than to realise capital gains by selling assets at one, or several, points in time. Chasing down the lines - falling average spending in lockdown Since the implementation of lockdown restrictions, average credit card expenditure has fallen by nearly 30 per cent. This has taken credit card expenditure to lower than any similar period in the past six years. Partly as a result of this - as the chart below shows - a new development is occurring. The previously fairly steady card expenses line (red) is now starting to bend down towards, or 'chase', the rolling average distributions line (in blue). [Chart] The declining distributions line is a result of some previous high distributions gradually falling outside of the data 'window' for the rolling three-year comparison of distributions and expenditure. This intriguing picture will probably change before a cross-over occurs, as lockdown restrictions ease, and as the data feeding into the three year average slowly changes over time. Progress Progress against the objective, and the additional measures I have reached is set out below. Measure Portfolio All Assets Portfolio objective – $2 180 000 (or $87 000 pa) 77.7% 104.6% Credit card purchases – $71 000 pa 94.8% 127.6% Total expenses – $89 000 pa 76.0% 102.3% Summary Last month market volatility theoretically took progress down to below most of my financial independence benchmarks on an 'All Assets' (i.e. portfolio and superannuation assets) basis. This position has reversed this month. As markets have recovered and with additional spare time in the lockdown period, I have continued to seek out and think about different perspectives on the history and future of markets. Yet it must be recognised that there is a natural limit to the utility of these ponderings. The shape of the future is always uncertain, and in this world, confident comparisons and analogies with past events can be perilous. Comparisons with past periods of financial market crises miss the centrality of government action as a causal influence on the path of virus affected economies and markets. A virus and recovery is not the same as a global financial crisis originating in housing finance markets addressed through monetary and fiscal stimulus. Most developed country governments have quickly applied the same, if not larger versions of responses as applied in the global financial crisis, a distinguishing step that also makes analogies with the great depression era problematic. Similarly, a pandemic is not hitting and interacting with the shattered economic and health systems of the 1918-19 Spanish flu. Overlaying all of this is the imperfect and partially disconnected relationship between the economy today, and equity markets that discount and focus on the future. This makes all history's lessons more than usually caveated and conditional. One avenue for managing through these times is to focus on what does not change - the psychological difficulty of accepting alterations in financial circumstances and the capacity of markets movements to cruelly surprise us in both timing and direction. One of the best texts to read to get a sense of both of these in such times is Benjamin Roth's A Great Depression Diary. This tells of the day-by-day changes observed in everyday urban life and investment markets, from the point of view of an American small retail investor living through the times. This month also saw the exciting news that Pat the Shuffler and Strong Money Australia are combining efforts to produce a new podcast. Speaking of which, Big ERN's reflections on the current implications of sharemarket market movements for seekers of financial independence have been filled with insight and wisdom. This interesting piece (video) - the latest in a 'virus' market series - from New York University's Professor of Finance Aswath Damodaran on asset performances through the past few months - is a more technical and detailed discussion of how markets have re-priced businesses and profits. Finally, the recently released Hmmminar interview series provides a more heterodox set of speakers and ideas on current markets, presented by Grant Williams. Unlike predicting the future, seeking out different perspectives on it is perhaps the easiest it has ever been in history. While it is not always possible to change the course taken, it is possible to look at the same horizon with new eyes. The post, links and full charts can be seen here.
Murmurs of the Sea | Monthly Portfolio Update - March 2020
Only the sea, murmurous behind the dingy checkerboard of houses, told of the unrest, the precariousness, of all things in this world. -Albert Camus, The Plague This is my fortieth portfolio update. I complete this update monthly to check my progress against my goal. Portfolio goal My objective is to reach a portfolio of $2 180 000 by 1 July 2021. This would produce a real annual income of about $87 000 (in 2020 dollars). This portfolio objective is based on an expected average real return of 3.99 per cent, or a nominal return of 6.49 per cent. Portfolio summary Vanguard Lifestrategy High Growth Fund – $662 776 Vanguard Lifestrategy Growth Fund – $39 044 Vanguard Lifestrategy Balanced Fund – $74 099 Vanguard Diversified Bonds Fund – $109 500 Vanguard Australian Shares ETF (VAS) – $150 095 Vanguard International Shares ETF (VGS) – $29 852 Betashares Australia 200 ETF (A200) – $197 149 Telstra shares (TLS) – $1 630 Insurance Australia Group shares (IAG) – $7 855 NIB Holdings shares (NHF) – $6 156 Gold ETF (GOLD.ASX) – $119 254 Secured physical gold – $19 211 Ratesetter (P2P lending) – $13 106 Bitcoin – $115 330 Raiz* app (Aggressive portfolio) – $15 094 Spaceship Voyager* app (Index portfolio) – $2 303 BrickX (P2P rental real estate) – $4 492 Total portfolio value: $1 566 946 (-$236 479 or -13.1%) Asset allocation Australian shares – 40.6% (4.4% under) Global shares – 22.3% Emerging markets shares – 2.3% International small companies – 3.0% Total international shares – 27.6% (2.4% under) Total shares – 68.3% (6.7% under) Total property securities – 0.2% (0.2% over) Australian bonds – 4.8% International bonds – 10.4% Total bonds – 15.2% (0.2% over) Gold – 8.8% Bitcoin – 7.4% Gold and alternatives – 16.2% (6.2% over) Presented visually, below is a high-level view of the current asset allocation of the portfolio. Comments This month saw an extremely rapid collapse in market prices for a broad range of assets across the world, driven by the acceleration of the Coronavirus pandemic. Broad and simultaneous market falls have resulted in the single largest monthly fall in portfolio value to date of around $236 000. This represents a fall of 13 per cent across the month, and an overall reduction of more the 16 per cent since the portfolio peak of January. [Chart] The monthly fall is over three times more severe than any other fall experienced to date on the journey. Sharpest losses have occurred in Australian equities, however, international shares and bonds have also fallen. A substantial fall in the Australia dollar has provided some buffer to international equity losses - limiting these to around 8 per cent. Bitcoin has also fallen by 23 per cent. In short, in the period of acute market adjustment - as often occurs - the benefits of diversification have been temporarily muted. [Chart] The last monthly update reported results of some initial simplified modelling on the impact of a hypothetical large fall in equity markets on the portfolio. Currently, the actual asset price falls look to register in between the normal 'bear market', and the more extreme 'Global Financial Crisis Mark II' scenarios modelled. Absent, at least for the immediate phase, is a significant diversification offset - outside of a small (4 per cent) increase in the value of gold. The continued sharp equity market losses have left the portfolio below its target Australian equity weighting, so contributions this month have been made to Vanguard's Australian shares ETF (VAS). This coming month will see quarterly distributions paid for the A200, VGS and VAS exchange traded funds - totalling around $2700 - meaning a further small opportunity to reinvest following sizeable market falls. Reviewing the evidence on the history of stock market falls Vladimir Lenin once remarked that there are decades where nothing happen, and then there are weeks in which decades happen. This month has been four such weeks in a row, from initial market responses to the coronavirus pandemic, to unprecedented fiscal and monetary policy responses aimed at lessening the impact. Given this, it would be foolish to rule out the potential for other extreme steps that governments have undertaken on multiple occasions before. These could include underwriting of banks and other debt liabilities, effective nationalisation or rescues of critical industries or providers, or even temporary closure of some financial or equity markets. There is a strong appeal for comforting narratives in this highly fluid investment environment, including concepts such as buying while distress selling appears to be occurring, or delaying investing until issues become 'more clear'. Nobody can guarantee that investments made now will not be made into cruel short-lived bear market rallies, and no formulas exist that will safely and certainly minimise either further losses, or opportunities forgone. Much financial independence focused advice in the early stages of recent market falls focused on investment commonplaces, with a strong flavour of enthusiasm at the potential for 'buying the dip'. Yet such commonly repeated truths turn out to be imperfect and conditional in practice. One of the most influential studies of a large sample of historical market falls turns out to provide mixed evidence that buying following a fall reliably pays off. This study (pdf) examines 101 stock market declines across four centuries of data, and finds that:
Large falls can lead to strong rebounds - After large falls of up to 50 per cent, the probability of a large rebound is higher.
Future returns after large market falls are generally positive - Returns following such a severe crash are systematically higher than otherwise.
Smaller market falls, however, may accurately signal poor future returns - Smaller declines (10-20 per cent) are more likely to be followed by further declines, although the strength of the relationship is weaker and less consistent.
Even these findings should be viewed as simply indicative. Each crisis and economic phase has its unique character, usually only discernible in retrospect. History, in these cases, should inform around the potential outlines of events that can be considered possible. As the saying goes, risk is what remains after you believe you have thought of everything. Position fixing - alternative perspectives of progress In challenging times it can help to keep a steady view of progress from a range of perspectives. Extreme market volatility and large falls can be disquieting for both recent investors and those closer to the end of the journey. One perspective on what has occurred is that the portfolio has effectively been pushed backwards in time. That is, the portfolio now sits at levels it last occupied in April 2019. Even this perspective has some benefit, highlighting that by this metric all that has been lost is the strong forward progress made in a relatively short time. Yet each perspective can hide and distort key underlying truths. As an example, while the overall portfolio is currently valued at around the same dollar value as a year ago, it is not the same portfolio. Through new purchases and reinvestments in this period, many more actual securities (mostly units in ETFs) have been purchased. The chart below sets out the growth in total units held from January 2019 to this month, across the three major exchange trade funds holdings in the portfolio. [Chart] From this it can be seen that the number of securities held - effectively, individual claims on the future earnings of the firms in these indexes - has more than doubled over the past fifteen months. Through this perspective, the accumulation of valuable assets shows a far more constant path. Though this can help illuminate progress, as a measure it also has limitations. The realities of falls in market values cannot be elided by such devices, and some proportion of those market falls represent initial reassessments of the likely course of future earnings, and therefore the fundamental value of each of those ETF units. With significant uncertainty over the course of global lock-downs, trade and growth, the basis of these reassessments may provide accurate, or not. For anyone to discount all of these reassessments as wholly the temporary result of irrational panic is to show a remarkable confidence in one's own analytical capacities. Similarly, it would be equally wrong to extrapolate from market falls to a permanent constraining of the impulse of humanity to innovate, adjust to changed conditions, seek out opportunities and serve others for profit. Lines of position - Trends in expenditure A further longer-term perspective regularly reviewed is monthly expenses compared to average distributions. Monthly expenditure continues to be below average, and is likely to fall further next month as a natural result of a virus-induced reduction of shopping trips, events and outings. [Chart] As occurred last month, as a function some previous high distributions gradually falling outside of the data 'window' for the rolling three-year comparison of distributions and expenditure, a downward slope in distributions continues. Progress Progress against the objective, and the additional measures I have reached is set out below. Measure Portfolio All Assets Portfolio objective – $2 180 000 (or $87 000 pa) 71.9% 97.7% Credit card purchases – $71 000 pa 87.7% 119.2% Total expenses – $89 000 pa 70.2% 95.5% Summary This month has been one of the most surprising and volatile of the entire journey, with significant daily movements in portfolio value and historic market developments. There has been more to watch and observe than at any time in living memory. The dominant sensation has been that of travelling backwards through time, and revisiting a stage of the journey already passed. The progress of the last few months has actually been so rapid, that this backwards travel has felt less like a set back, but rather more like a temporary revisitation of days past. It is unclear how temporary a revisitation current conditions will enforce, or exactly how this will affect the rest of the journey. In early January I estimated that if equity market fell by 33 per cent through early 2020 with no offsetting gains in other portfolio elements, this could push out the achievement of the target to January 2023. Even so, experiencing these markets and with more volatility likely, I don't feel there is much value in seeking to rapidly recalculate the path from here, or immediately alter the targeted timeframe. Moving past the portfolio target from here in around a year looks almost impossibly challenging, but time exists to allow this fact to settle. Too many other, more important, human and historical events are still playing out. In such times, taking diverse perspectives on the same facts is important. This Next Life recently produced this interesting meditation on the future of FIRE during this phase of economic hardship. In addition, the Animal Spirits podcast also provided a thoughtful perspective on current market falls compared to 2008, as does this article by Early Retirement Now. Such analysis, and each passing day, highlights that the murmurs of the sea are louder than ever before, reminding us of the precariousness of all things. The post, links and full charts can be seen here.
CryptoDiffer teamHello, everyone!We are glad to meet here:Max Freeman (@maxfreeman4), Project Lead at Epic CashYoga Dude (@Yogadude), PR&Marketing at Epic CashXenolink (@Xenolink), Advisor at Epic Cash Max Freeman Project Lead at Epic Cash Thanks Max, we are excited to be here! Yoga Dude PR&Marketing at Epic Cash Hello Everyone! Thank you for having us here! Xenolink Advisor at Epic Cash Thank you to the CryptoDiffer team and CryptoDiffer community for hosting us! CryptoDiffer teamLet`s start from the first introduction question:Q1: Can you introduce yourself to the community? What is your background and how did you join Epic Cash? Yoga Dude PR&Marketing at Epic Cash Hello! My background is Marketing and Business Development, I’ve been in crypto since 2011 started with Bitcoin, then Monero in 2014, Ethereum in 2015 and at some point Doge for fun and profit. I joined Epic Cash team in September 2019 handling PR and Marketing. I saw in Epic Cash what was missing in my previous cryptos — things that were missing in Bitcoin and Monero especially. Xenolink Advisor at Epic Cash Hello Cryptodiffer Community, I am not an original co-founder nor am I a developer for the Epic Cash project. I am however a community member that is involved in helping scale this project to higher levels. One of the many beauties of Epic Cash is that every single member in the community has the opportunity to be part of EPIC’s team, it can be from development all the way to content producing. Epic Cash is a community driven project. The true Core Team of Epic Cash is our community. I believe a community that is the Core Team is truly powerful. EPIC Cash has one of the freshest and strongest communities I have seen in quite a while. Which is one of the reasons why I became involved in this project. Epic displayed some of the most self community produced content I have seen in a project. I’m actually a doctor of medicine but in terms of my experience in crypto, I have been involved in the industry since 2012 beginning with mining Litecoin. Since then I have been doing deep dive analysis on different projects, investing, and building a network in crypto that I will utilize to help connect and scale Epic in every way I can. To give some credit to those people in my network that have been a part of helping give Epic exposure, I would like to give a special thanks to u/Tetsugan and u/Saurabhblr. Tetsugan has been doing a lot of work for the Japanese community to penetrate the Japanese market, and Japan has already developed a growing interest in Epic. Daku Sarabh the owner and creator of Crypto Daku Robinhooders, I would like to thank him and his community for giving us one of our first large AMA’s, which he has supported our project early and given us a free AMA. Many more to thank but can’t be disclosed. Also thank you to all the Epic Community leaders, developers, and Content producers! Max Freeman Project Lead at Epic Cash I’m Max Freeman, which stands for “Maximum Freedom for Mankind”. I started working on the ideas that would become Epic in 2018. I fell in love with Bitcoin in 2017 but realized that it needs privacy at the base layer, fungibility, better scalability in order to go to the next level. CryptoDiffer team Really interesting backgrounds I must admit, pleasure to see the team that clearly has one vision of the project by being completely decentralized:) Q2: Can you briefly describe what is Epic Cash in 3–5 sentences? What technology stands behind Epic Cash and why it’s better than the existing one? Max Freeman Project Lead at Epic Cash I’d like to highlight the differences between Epic and the two highest-valued privacy coin projects, Monero and Zcash. XMR has always-on privacy like Epic does, but at a cost: Its blockchain is over 20x more data intensive than Epic, which limits its possibilities for scalability. Epic’s blockchain is small and light enough to run a full node on cell phones, something that is in our product road map. ZEC by comparison can’t run on low end devices because of its zero knowledge based approach, and only 1% of transactions are fully private. Epic is simply newer, more advanced technology than prior networks thanks to Mimblewimble We will also add more algorithms to widen the range of hardware that can participate in mining. For example, cell phones and tablets based around ARM chips. Millions of people can mine Epic that can’t mine Bitcoin, and that will help grow the network rapidly. There are some great short videos on our YouTube channel https://www.youtube.com/channel/UCQBFfksJlM97rgrplLRwNUg/videos that explain why we believe we have created something truly special here. Our core architecture derives from Grin, so we are fortunate to benefit on an ongoing basis from their considerable development efforts. We are focused on making our currency truly usable and widely available, beyond a store of value and becoming a true medium of exchange. Yoga Dude PR&Marketing at Epic Cash Well we all have our views, but in a nutshell, we offer things that were missing in the previous cryptos. We have sound fiscal emission schedule matching Bitcoin, but we are vastly more private and faster. Our blockchain is lighter than Bitcoin or Monero and our tech is more scalable. Also, we are unique in that we are mineable with CPUs and GPUs as well as ASICs, giving the broadest population the ability to mine Epic Cash. Plus, you can’t forget FUNGIBILITY 🙂 we are big on that — since you can’t have true privacy without fungibility. Also, please understand, we have HUGE respect to all the cryptos that came before us, we learned a lot from them, and thanks to their mistakes we evolved. Xenolink Advisor at Epic Cash To add on, what also makes Epic Cash unique is the ability to decentralize the mining using a tri-algo model of Random X (CPU), Progpow (GPU), and Cuckoo (ASIC) for an ability to do hybrid mining. I believe this is an issue we can see today in Bitcoin having centralized mining and the average user has a costly barrier of entry. To follow up on this one in my opinion one of the things we adopted that we have seen success for , in example Bitcoin and Monero, is a strong community driven coin. I believe having a community driven coin will provide a more organic atmosphere especially when starting with No ICO, or Premine with a fair distribution model for everyone. CryptoDiffer team Q3: What are the major milestones Epic Cash has achieved so far? Maybe you can share with us some exciting plans for future weeks/months? Yoga Dude PR&Marketing at Epic Cash Since we went live in September of 2019, we attracted a very large community of users, miners, investors and contributors from across the world. Epic Cash is a very international project with white papers translated into over 30 languages. We are very much a community driven project; this is very evident from our content and the amount of translations in our white papers and in our social media content. We are constantly working on improving our usability, security and privacy, as well as getting our message and philosophy out into the world to achieve mass adoption. We have a lot of exciting plans for our project, the plan is to make Epic Cash into something that is More than Money. You can tell I am the Marketing guy since my message is less about the actual tech and more about the usability and use cases for Epic Cash, I think our Team and Community have a great mix of technical, practical, social and fiscal experiences. Since we opened our YouTube channels content for community submissions, we have seen our content translated into Spanish, French, German, Polish, Chinese, Japanese, Arabic, Russian, and other languages Max Freeman Project Lead at Epic Cash Our future development roadmap will be published soon and includes 4 tracks: Usability Mining Core Protocol Ecosystem Development Core Protocol Epic Server 2.9.0 — this release improves the difficulty adjustment and is aimed at making block emission closer to the target 60 seconds, particularly reducing the incidence of extremely short and long blocks — Status: In Development (Testing) Anticipated Release: June 2020 Epic Server 3.0.0 — this completes the rebase to Grin 3.0.0 and serves as the prerequisite to some important functional building blocks for the future of the ecosystem. Specifically, sending via Tor (which eliminates the need to open ports), proof of payment (useful for certain dex applications e.g. Bisq), and our native mobile app. Status: In Development (Testing) Anticipated Release: Fall 2020 Non-Interactive Transactions — this will enhance usability by enabling “fire and forget” send-to-address functionality that users are accustomed to from most cryptocurrencies. Status: Drawing Board Anticipated Release: n/a Scaling Options — when blocks start becoming full, how will we increase capacity? Two obvious options are increasing the block size, as well as a Lightning Network-style Layer 2 structure. Status: Drawing Board Anticipated Release: n/a Confidential Assets — Similar to Raven, Tari, and Beam, the ability to create independently tradable assets that ride on the Epic Blockchain. Status: Drawing Board Anticipated Release: n/a Usability GUI Wallet 2.0 — Restore from seed words and various usability enhancements — Status: Needs Assessment Anticipated Release: Fall 2020 Mobile App — Native mobile experience for iOS and Android. Status: In Development (Testing) Anticipated Release: Winter 2020 Telegram Integration — Anonymous payments over the Telegram network, bot functionality for groups. Status: Drawing Board Anticipated Release: n/a Mining RandomX on ARM — Our 4th PoW algorithm, this will enable tablets, cell phones, and low power devices such as Raspberry Pi to participate in mining. Status: Needs Assessment Anticipated Release: n/a The economics of mining Epic are extremely compelling for countries that have free or extremely cheap electricity, since anyone with an ordinary PC can mine. Individual people around the world can simply run the miner and earn meaningful money (imagine Venezuela for example), something that has not been possible since the very early days of Bitcoin. Ecosystem Development Atomic Swaps — Connecting Epic to other blockchains in a trustless way, starting with ETH so that Epic can trade on DeFi infrastructure such as Uniswap, Kyber, etc. Status: Drawing Board Anticipated Release: n/a Xenolink Advisor at Epic Cash From the Community aspect, we have been further developing our community international reach. We have been seeing an increase in interest from South America, China, Russia, Japan, Italy, and the Philippines. We are working on targeting more countries. We truly aim to be a decentralized project that is open to everyone worldwide. CryptoDiffer team Great, thank you for your answers, we now can move to community questions part! Cryptodiffer Community You have 3 mining algorithms, the question is: how do they not compete with each other? Is there any benefit of mining on the GPU and CPU if someone is mining on the ASIC? Max Freeman Project Lead at Epic Cash The block selection is deterministic, so that every 100 blocks, 60% are for RandomX (CPU), 38% for ProgPow (GPU), and 2% for Cuckoo (ASIC) — the policy is flexible so that we can have as many algorithms with any percentages we want. The goal is to make the most decentralized and resilient network possible, and with that in mind we are excited to work on enabling tablets and cell phones to mine, since that opens it up to millions of people that otherwise can’t take part. Cryptodiffer Community To Run a project smoothly, Funding is very important, From where does the Funding/revenue come from? Xenolink Advisor at Epic Cash Yes, early on this was realized and in order to scale a project funds are indeed needed. Epic Cash did not start with any funding and no ICO and was organically genesis mined with no pre-mine. Epic cash is also a nonprofit community driven project similar to Monero. There is no profit-driven entity in the picture. To overcome the revenue issue Epic Cash setup a development fund tax that decreases 1% every year until 2028 when Epic Cash reaches singularity with Bitcoin emissions. Currently it is at 7.77%. This will help support the scaling of the project. Cryptodiffer Community Hi! In your experience working also with MONERO can you please clarify which are those identified problems that EPIC CASH aims to develop and resolve? What’s the main advantage that EPIC CASH has over MONERO? Thank you! Yoga Dude PR&Marketing at Epic Cash First, I must admit that I am still a huge fan and HODLer of Monero. That said: ✅ our blockchain is MUCH lighter than Monero’s ✅ our transaction processing speed is much faster ✅ our address-less blockchain is more private ✅ Epic Cash can be mined with CPU (RandomX) GPU (ProgPow) and Cuckoo, whereas Monero migrated to RandomX and currently only mineable with CPU Cryptodiffer Community
the feature ‘Cut Through’ deletes old data, how is it decided which data will be deletes, and what are the consequences of it for the platform and therefore the users?
On your website I see links to download Epic wallet and mining software for Linux,Windows and MacOs, I am a user of android, is there a version for me, or does it have a release date?
Max Freeman Project Lead at Epic Cash
This is one of the most exciting features of Mimblewimble, which is its extraordinary ability to compress blockchain data. In Bitcoin, the entire history of a coin must be replayed every time it is spent, and comprehensive details are permanently stored in the blockchain. Epic discards spent transaction inputs and consolidates outputs, storing neither addresses or amounts, only a tiny kernel to allow sender and receiver to prove their transaction.
The Vitex mobile app is great for today, and we have a native mobile app for iOS and Android in the works as well.
Cryptodiffer Community $EPIC Have total Supply of 21,000,000 EPIC , is there any burning plan? Or Buyback program to maintain $EPIC price in the future? Who is Epic Biggest competitors? And what’s makes epic better than competitors? Xenolink Advisor at Epic Cash We respect the older generation coins like Bitcoin. But we have learned that the supply economics of Bitcoin is very sound. Until today we can witness how the Bitcoin is being adopted institutionally and by retail. We match the 21 million BTC supply economics because it is an inelastic fixed model which makes the long-term economics very sound. To have an elastic model of burning tokens or printing tokens will not have a solid economic future. Take for example the USD which is an inflating supply. In terms of competitors we look at everyone in crypto with respect and also learn from everyone. If we had to compare to other Mimblewimble tech coins, Grin is an inelastic forever inflating supply which in the long term is not sound economics. Beam however is an inelastic model but is formed as a corporation. The fair distribution is not there because of the permanent revenue model setup for them. Epic Cash a non-profit development tax fund model for scaling purposes that will disappear by 2028’s singularity. Cryptodiffer Community What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Yoga Dude PR&Marketing at Epic Cash Since we are a community project, we have many developers, in addition to the core team. Our plans for Global expansion are simple — we have advocates in different regions addressing their audiences in their native languages. We are growing organically, by explaining our ideology and usability. The idea is to grow beyond needing a fiat bridge for crypto use, but to rather replace fiat with our borderless, private and fungible crypto so people can use it to get goods and services without using banks. We are not limiting ourselves to one particular demographic — Epic Cash is a valid solution for the gamers, investors, techie and non techie people, and the unbanked. Cryptodiffer Community EPIC confidential coin! Did you have any problems with the regulators? And there will be no problems with listing on centralized exchanges? Xenolink Advisor at Epic Cash In terms of structure, we are carefully set up to minimize these concerns. Without a company or investors in the picture, and having raised no funds, there is little scope to attack in terms of securities laws. Bitcoin and Ethereum are widely acknowledged as acceptable, and we follow in their well-established footprints in that respect. Centralized exchanges already trade other privacy coins, so we don’t see this as much of an issue either. In general, decentralized p2p exchange options are more interesting than today’s centralized platforms. They are more censorship resistant, secure, and privacy-protecting. As the technology gets better, they should continue to gain market share and that’s why we’re proud to be partnered with Vitex, whose exchange and mobile app work very well. Cryptodiffer Community What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment? Max Freeman Project Lead at Epic Cash Because our blockchain is so light (only 1.16gb currently, and grows very slowly) it is naturally well suited to become a decentralized mobile money standard because people can run a full node on their phone, guaranteeing the security of their funds. Scalability in Bitcoin requires complicated and compromised workarounds such as Lightning Network and light clients, and these problems are solved in Epic. With our forthcoming Mobile Mining app, hundreds of millions of cell phones and tablets will be able to easily join the network. People can quickly and cheaply send money to one another, fulfilling the long-envisioned promise of P2P electronic cash. As an investor, it’s important to ask a few key questions. Bitcoin Standard tokenomics of disinflation and a fixed supply are well proven over a decade now. We follow this model exactly, with a permanently synchronized supply from 2028, and 4 emission halvings from now until then, with our first one in about two weeks. Beyond that, we can apply some simple logical tests. What is more valuable, money that can only be used in some cases (censorable Bitcoin based on a lack of fungibility) or money that can be used universally? (fungible Epic based on always-on privacy by default). Epic is also poised to be a more decentralized and therefore resilient network because of wider participation in mining. Epic is designed to be Bitcoin++ Privacy, Fungibility, Scalability Cryptodiffer Community Q1. What are advantages for choosing three mining algorithms RandomX+, ProgPow and CuckAToo31+ ? Q2. Beam and Grin use MimbleWimble protocol, so what are difference for Epic? All of you will be friends for partners or competitors? Max Freeman Project Lead at Epic Cash RandomX and ProgPow are designed to use the entirety of a CPU / GPU’s unique processing capabilities in a way that other types of hardware don’t work as well. You can run RandomX on a GPU but it doesn’t work nearly as well as a much cheaper CPU, for example. Cuckoo is a “memory hard” algorithm that widens the range of companies that can produce the hardware. Grin and Beam are great projects and we’ve learned a lot from them. We inherited our first codebase from Grin’s excellent Rust design, which is a better language for community participation than C++ that Beam currently uses. Functionally, Mimblewimble is similar across the 3 coins, with standard Confidential Transactions, CoinJoin, Dandelion++, Schnorr Signatures and other advanced features. Grin is primarily ASIC-targeted, Beam is GPU-targeted, and Epic is multi-hardware. The biggest differences though are in tokenomics and project structure. Grin has permanent inflation of 60 coins per block with no halvings, which means steady erosion of value over time due to new supply pressure. It also lacks a steady funding model, making future development in jeopardy, particularly as the per coin price falls. Beam has a for-profit model with heavy early inflation and a high developer tax. Epic builds on the strengths of these earlier mimblewimble projects and addresses the parts that could be improved. Cryptodiffer Community Some privacy coin has scalability issues! How Epic cash will solve scalability issues? Why you choose randomX consensus algorithem? Xenolink Advisor at Epic Cash Fungibility means that you can’t distinguish one unit of currency from another, in example Gold. Fungibility has recently become a hot issue as people have been noticing Bitcoins being locked up by exchanges which may of had a nefarious history which are called Tainted Coins. In example coins that have been involved in a hack, darknet market transactions, or even processing coin through a mixer. Today we can already see freshly mined Bitcoins being sold at a premium price to avoid the fungibility problem Bitcoin carries today. Bitcoin can be tracked by chainalysis and is not a fungible cryptocurrency. One of the features that Epic has is privacy with added fungibility, because of Mimblewimble technology, Epic has no addresses recorded and therefore nothing can be tracked by chainalysis. Below I provide a link of an example of what the lack of fungibility is resulting in today with Bitcoin. One of the reasons why we chose the Random X algo. is because of the easy barrier of entry and also to further decentralize the mining. Random X algo can be mined on old computers or laptops. We also have 2 other algos Progpow (GPU), and Cuckoo (ASIC) to create a wider decentralization of mining methods for Epic. Cryptodiffer Community I’m a newbie in crypto and blockchain so how will Epic Cash team target and educate people who don’t know about blockchain and crypto? What is the uniqueness of Epic Cash that cannot be found in other project that´s been released so far ? Yoga Dude Pr&Marketing at Epic Cash Actually, while we have our white paper translated into over 30 languages, we are more focused on explaining our uses and advantages rather than cold specs. Our tech is solid, but we not get hung up on pure tech talk which most casual users do not need to or care to understand. As long as our fundamentals and tech are secure and user friendly our primary goal is to educate about use cases and market potential. The uniqueness of Epic Cash is its amalgamation of “whats good” in other cryptos. We use Mimblewimble for privacy and anonymity. Our blockchain is much lighter than our competitors. We are the only Mimblewimble crypto to use a unique cocktail of mining algorithms allowing to be mined by casual miners with gaming rigs and laptops, while remaining friendly to GPU and CPU farmers. The “uniqueness” is learning from the mistakes of those who came before us, we evolved and learned, which is why our privacy is better, we are faster, we are fungible, we offer diverse mining and so on. We are the best blend — thats powerful and unique Cryptodiffer Community Can you share EPIC’s vision for decentralized finance (DEFI)? What features do EPIC have to support DEFI? Yoga Dude PR&Marketing at Epic Cash We view Epic as ideally suited to be the decentralized digital reserve asset of the new Private Internet of Money that’s emerging. At a technology level, atomic swaps can be created to build liquidity bridges so that wrapped Epic tokens (like WBTC, WETH) can trade on other networks as ERC20, BEP2, NEP5, VIP180, Algorand and so on. There is more Bitcoin value locked on Ethereum than in Lightning Network, so we will similarly integrate Epic so that it can trade on networks such as Uniswap, Kyber, and so on. Longer term, if there is market demand for it, thanks to Scriptless Script functionality our blockchain has, we can build “Confidential Assets” (which Raven, Tari, and Beam are all also working on) that enable people to create tokenized assets in a private way. Cryptodiffer Community If you could choose one celebrity to promote Epic-cash, who that would be? Max Freeman Project Lead at Epic Cash I am a firm believer that the strength of the project lies in allowing community members to become their own celebrities, if their content is good enough the community will propel them to celebrity status. Organic celebrities with small but loyal following are vastly more beneficial than big name professional shills with inflated but non caring audiences. I remember the early days of Apple when an enthusiastic dude named Guy Kawasaki became Apple Evangelist, he was literally going around stores that sold Apple and visited user groups and Evangelized his belief in Apple. This guy became a Legend and helped Apple become what it is today. Epic Cash will have its OWN Celebrities Cryptodiffer Community How does $EPIC solve scalability of transactions? Current blockchains face issues with scalability a lot, how does $EPIC creates a solution to it? Xenolink Advisor at Epic Cash Epic Cash is utilizing Mimblewimble technology. Besides the privacy & fungibility aspect of the tech. There is the scalability features of it. It is implemented into Epic by transaction cut-through. Which means it allows nodes to remove all intermediate transactions, thus significantly reducing the blockchain size without affecting its validation. Mimblewimble also does not use addresses like a BTC address, and amount of transactions are also not recorded. One problem Monero and Bitcoin are facing now is scalability. It is evident today that data is getting more expensive and that will be a problem in the long run for those coins. Epic is 90% lighter and more scalable compared to Monero and Bitcoin. Cryptodiffer Community what are the ways that Epic Cash generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ? Max Freeman Project Lead at Epic Cash There is a block subsidy of 7.77% that declines 1.11% per year until 0, where it stays after that. As a nonprofit community effort, this extremely modest amount goes much further than in other projects, which often take 20, 30, even 50+ % of the coin supply. We believe that this ongoing funding model best aligns the long term incentives for all participants and balances the compromises between the ends of the centralized/decentralized spectrum of choices that any project must make. Cryptodiffer Community Q1 : What are your major goals to archive in the next 3–4 years? Q2 : What are your plans to expand and gain more adoption? Yoga Dude Pr&Marketing at Epic Cash Max already talked about our technical plans and goals in his roadmap. Allow me to talk more about the non technical 😁 We are aiming for broader reach in the non technical more mainstream community — this is a big challenge but we believe it is doable. By offering simpler ways to mine Epic Cash (with smart phones for example), and by doing more education we will achieve the holy grail of crypto — moving past the fiat bridges and getting Epic Cash to be accepted as means of payment for goods and services. We will accomplish this by working with regional advocacy groups, community interaction, off-line promotional activities and diverse social media targeting. Cryptodiffer Community It seems to me that EpicCash will have its first Halving, right? Why a halving so soon? Is a mobile version feasible? Max Freeman Project Lead at Epic Cash Our supply emission catches up to that of Bitcoin’s first 19 years after 8 years in Epic, so that requires more frequent halvings. Today’s block emission is 16, next up are 8, 4, 2, and then finally 0.15625. After that, the supply of Epic and that of BTC stay synchronized until maxing out at 21m coins in 2140. Today we have a mobile wallet through the Vitex app, a native mobile wallet coming, and are working on mobile mining. Cryptodiffer Community What markets will you add after that? Yoga Dude PR&Marketing at Epic Cash Well, we are aiming to have ALL markets Epic Cash in its final iteration will be usable by everyone everywhere regardless of their technical expertise. We are not limiting ourselves to the technocrats, one of our main goals is to help the billions of unbanked. We want everyone to be able to mine, buy, and most of all USE Epic Cash — gamers, farmers, soccer moms, students, retirees, everyone really — even bankers (well once we defeat the banking industry) We will continue building on the multilingual diversity of our global community adding support and advocacy groups in more countries in more languages. Epic Cash is More than Money and its for Everyone. Cryptodiffer Community Almost, all cryptocurrencies are decentralized & no-one knows who owns that cryptocurrencies ! then also, why Privacy is needed? hats the advantages of Private coins? Max Freeman Project Lead at Epic Cash With a public transparent blockchain such as Bitcoin, you are permanently posting a detailed history of your money movements open for anyone to see (not just legitimate authorities, either!) — It would be considered crazy to post your credit card or bank statements to Twitter, but that’s what is happening every time you send a transaction that is not private. This excellent video from community contributor Spencer Lambert https://www.youtube.com/watch?v=0blbfmvCq\_4 explains better than I can. Privacy is not just for criminals, it’s for everyone. Do you want your landlord to increase the rent when he sees that you get a raise? Your insurance company to raise your healthcare costs because they see you buying too much ice cream? If you’re a business, do you want your employees to see how much money their coworkers make? Do you want your competitors to trace your supplier and customer relationships? Of course not. By privacy being default for everyone, cryptocurrency can be used in a much wider range of situations without unacceptable compromises. Cryptodiffer Community What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment? Xenolink Advisor at Epic Cash Epic Cash can be used as a Private and Fungible store of value, medium of exchange, and unit of account. As Epic Cash grows and becomes adopted it can be compared to how Bitcoin and Monero is used and adopted as well. As Epic is adopted by the masses, it can be accepted as a medium of exchange for store owners and as fungible payments without the worry of having money that is tainted. Epic Cash as a store of value may be a good long term aspect of investment to consider. Epic Cash carries an inelastic fixed supply economic model of 21 million coins. There will be 5 halvings which this month of June will be our first halving of epic. From a block reward of 16 Epic reduced to 8. If we look at BTC’s price action and history of their halvings it has been proven and show that there has been an increase in value due to the scarcity and from halvings a reduction of # of BTC’s mined per block. An inelastic supply model like Bitcoin provides proof of the circulating supply compared to the total supply by the history of it’s Price action which is evident in long term charts since the birth of Bitcoin. EPIC Plans to have 5 halvings before the year 2028 to match the emissions of Bitcoin which we call the singularity event. Below is a chart displaying our halvings model approaching singularity. Once bitcoin and cryptocurrency becomes adopted mainstream, the fungibility problem will be more noticed by the general public. Privacy coins and the features of fungibility/scalability will most likely be sought over. Right now a majority of people believe that all cryptocurrency is fungible. However, that is not true. We can already see Chainalysis confirming that they can trace and track and even for other well-known privacy coins today such as Z-Cash. Cryptodiffer Community
You aim to reach support from a global community, what are your plans to get spanish speakers involved into Epic Cash? And emerging markets like the african
How am I secure I won’t be affected by receiving tainted money?
Max Freeman Project Lead at Epic Cash Native speakers from our community are working to raise awareness in key markets such as mining in Argentina and Venezuela for Spanish (Roberto Navarro called Epic “the holy grail of cryptocurrency” and Ethiopia and certain North African countries that have the lowest electricity costs in the world. Remittances between USA and Latin American countries are expensive and slow, so Epic is also perfect for people to send money back home as well. Cryptodiffer Community Do EPICs in 2020 focus more on research and coding, or on sales and implementation? Yoga Dude PR&Marketing at Epic Cash We will definitely continue to work on research and coding, with emphasis on improved accessibility (especially via smartphones) usability, security and privacy. In terms of financial infrastructure will continuing to add exchanges both KYC and non KYC. Big part of our plans is in ongoing Marketing and PR outreach. The idea is to make Epic Cash a viral sensation of sorts. If we can get Epic Cash adopters to spread the word and tell their family, coworkers and friends about Epic Cash — there will be no stopping us and to help that happen we have a growing army of content creators, and supporters. Everyone with skin in the game gets the benefit of advancing the cause. Folks also, this isn’t an answer to the question but an example of a real-world Epic Cash content — https://www.youtube.com/watch?v=XtAVEqKGgqY a challenge from one of our content creators to beat his 21 pull ups and get 100 epics! This has not been claimed yet — people need to step up 🙂 and to help that I will match another 100 Epic Cash to the first person to beat this Cryptodiffer Community I was watching some videos explaining how to send and receive transactions in EpicCash, which consists of ports and sending links, my question is why this is so, which, for now, looks complex? Let’s talk about the economic model, can EpicCash comply with the concept of value reserve? Max Freeman Project Lead at Epic Cash In V3, which is coming later this summer, Epic can be sent over Tor, which eliminates this issue of port opening, even though using tools like ngrok.io, it’s not necessarily as painful as directly configuring the router ports. Early Lightning Network had this issue as well and it’s something we have a plan to address via research into non-interactive transactions. “Fire and Forget” payments to an address, as people are used to in Bitcoin, is coming to Epic and we’re excited to develop functionality that other advanced mimblewimble coins don’t yet have. We are committed to constant improvement in usability and utility, to make our money system the ease of use leader. We are involved in the project (anyone can join the Freeman Family) because we believe that simply by choosing to use a form of money that better aligns with our ideals, that we can make a positive change in the world. Some of my thoughts about how I got involved are here: https://medium.com/epic-cash/the-freeman-family-e3b9c3b3f166 Max Freeman Project Lead at Epic Cash Huge thanks to our friends Maks and Vladyslav, we welcome everyone to come say hi at one of our friendly communities. It is extremely early in this journey, our market cap is only 0.5m right now, whereas the 3 other mimblewimble coins are at $20m, $30m and $100m respectively. Epic is a historic opportunity to follow in the footsteps of legends such as Bitcoin and Monero, and we hope to become the first Top 5 privacy coin project. Xenolink Advisor at Epic Cash Would like to Thank the Cryptodiffer Team and the Cryptodiffer community for hosting us and also engaging with us to learn more about Epic. If anyone else has more questions and wants to know more about EPIC , can find us at our telegram channel at https://t.me/EpicCash . Yoga Dude Pr&Marketing at Epic Cash Thank you, CryptoDiffer Team, and this wonderful Community!!! Cryptodiffer TEAM Thank you everyone for taking your time and asking great questions Thank you for your time, it was an insightful session Spread the love
Bitcoin 11 Years - Achievements, Lies, and Bullshit Claims So Far - Tooootally NOT a SCAM !!!!
That's right folks, it's that time again for the annual review of how Bitcoin is going: all of those claims, predictions, promises .... how many have turned out to be true, and how many are completely bogus ??? Please post / link this on Bitcoin (I am banned there for speaking the truth, so I cannot do it) ... because it'a way past time those poor clueless mushrooms were exposed to the truth. Anyway, without further ado, I give you the Bitcoin's Achievements, Lies, and Bullshit Claims So Far ... . Bitcoin Achievements so far:
It has spawned a cesspool of scams (2000+ shit coin scams, plus 100's of other scams, frauds, cons).
Many 1,000's of hacks, thefts, losses.
Illegal Use Cases: illegal drugs, illegal weapons, tax fraud, money laundering, sex trafficking, child pornography, hit men / murder-for-hire, ransomware, blackmail, extortion, and various other kinds of fraud and illicit activity.
Legal Use Cases: Steam Games, Reddit, Expedia, Stripe, Starbucks, 1000's of merchants, cryptocurrency conferences, Ummm ????? The few merchants who "accept Bitcoin" immediately convert it into FIAT after the sale, or require you to sell your coins to BitPay or Coinbase for real money, and will then take that money. Some of the few who actually accept bitcoin haven't seen a customer who needed to pay with bitcoin for the last six months, and their cashiers no longer know how to handle that.
Contributing significantly to Global Warming.
Wastes vasts amounts of electricity on useless, do nothing work.
Exponentially raises electricity prices when big miners move into regions where electricity was cheap.
It’s the first "currency" that is not self-sustainable. It operates at a net loss, and requires continuous outside capital to replace the capital removed by miners to pay their costs. It’s literally a "black hole currency."
It created a new way for people living too far from Vegas to gamble all their life savings away.
Spawned "blockchain technology", a powerful technique that lets incompetent programmers who know almost nothing about databases, finance, programming, or blockchain scam millions out of gullible VC investors, banks, and governments.
Increased China's foreign trade balance by a couple billion dollars per year.
Helped the FBI and other law enforcement agents easily track down hundreds of drug traffickers and drug users.
Wasted thousands if not millions of man-hours of government employees and legislators, in mostly fruitless attempts to understand, legitimize, and regulate the "phenomenon", and to investigate and prosecute its scams.
Rekindled the hopes of anarcho-capitalists and libertarians for a global economic collapse, that would finally bring forth their Mad Max "utopia".
Added another character to Unicode (no, no, not the "poo" 💩 character ... that was my first guess as well 🤣)
Provides an easy way for malware and ransomware criminals to ply their trade and extort hospitals, schools, local councils, businesses, utilities, as well as the general population.
~~Bitcoin is "striking fear into the hearts of bankers, precisely because Bitcoin eliminates the need for banks. ~~, Mark Yusko, billionaire investor and Founder of Morgan Creek Capital, https://www.bitcoinprice.com/predictions/
"A bitcoin miner in every device and in every hand."
"All the indicators are pointing to a huge year and bigger than anything we have seen before."
"Bitcoin is communism and democracy working hand in hand."
"Bitcoin is freedom, and we will soon be free."
"Bitcoin isn't calculated risk, you're right. It's downright and painfully obvious that it will consume global finance."
"Bitcoin most disruptive technology of last 500 years"
"Bitcoin: So easy, your grandma can use it!"
"Creating a 4th Branch of Government - Bitcoin"
"Future generations will cry laughing reading all the negativity and insanity vomited by these permabears."
"Future us will thank us."
"Give Bitcoin two years"
"HODLING is more like being a dutiful guardian of the most powerful economic force this planet has ever seen and getting to have a say about how that force is unleashed."
"Cut out the middleman"
"full control of your own assets"
"reduction in wealth gap"
"cannot print money out of thin air"
"Why that matters? Because blockchain not only cheaper for them, it'll be cheaper for you and everyone as well."
"If you are in this to get rich in Fiat then no. But if you are in this to protect your wealth once the current monetary system collapse then you are protected and you'll be the new rich."
"Theres the 1% and then theres the 99%. You want to be with the rest thats fine. Being different and brave is far more rewarding. No matter your background or education."
"NO COINERS will believe anything they are fed by fake news and paid media."
"I know that feeling (like people looking at you as in seeing a celebrity and then asking things they don't believe until their impressed)."
"I literally walk round everyday looking at other people wondering why they even bother to live if they don't have Bitcoin in their lives."
"I think bitcoin may very well be the best form of money we’ve ever seen in the history of civilization."
"I think Bitcoin will do for mankind what the sun did for life on earth."
"I think the constant scams and illegal activities only show the viability of bitcoin."
"I think we're sitting on the verge of exponential interest in the currency."
"I'm not using hyperbole when I say Satoshi found the elusive key to World Peace."
"If Jesus ever comes back you know he's gonna be using Bitcoin"
"If this idea was implemented with The Blockchain™, it would be completely flawless! Flawless I tell you!"
"If you're the minimum wage guy type, now is a great time to skip food and go full ramadan in order to buy bitcoin instead."
"In a world slipping more and more into chaos and uncertainty, Bitcoin seems to me like the last solid rock defeating all the attacks."
"In this moment, I am euphoric. Not because of any filthy statist's blessing, but because I am enlightened by own intelligence."
"Is Bitcoin at this point, with all the potential that opens up, the most undervalued asset ever?"
"It won't be long until bitcoin is an everyday household term."
"It's the USD that is volatile. Bitcoin is the real neutral currency."
"Just like the early Internet!"
"Just like the Trojan Horse of old, Bitcoin will reveal its full power and nature"
"Ladies if your man doesnt have some bitcoin then he cant handle anything and has no danger sex appeal. He isnt edgy"
"let me be the first to say if you dont have bitcoin you are a pussy and cant really purchase anything worldwide. You have no global reach"
"My conclusion is that I see this a a very good thing for bitcoin and for users"
"No one would do such a thing; it'd be against their self interests."
"Ooh lala, good job on bashing Bitcoin. How to disrespect a great innovation."
"Realistically I think Bitcoin will replace the dollar in the next 10-15 years."
"Seperation of money and state -> states become obsolete -> world peace."
"Some striking similarities between Bitcoin and God"
"THANK YOU. Better for this child to be strangled in its crib as a true weapon for crypto-anarchists than for it to be wielded by toxic individuals who distort the technology and surrender it to government and corporate powers."
"The Blockchain is more encompassing than the internet and is the next phase in human evolution. To avoid its significance is complete ignorance."
"The bull run should begin any day now."
"The free market doesn't permit fraud and theft."
"The free market will clear away the bad actors."
"The only regulation we need is the blockchain."
"We are not your slaves! We are free bodies who will swallow you and puke you out in disgust. Welcome to liberty land or as that genius called it: Bitcoin."
"We do not need the bankers for Satoshi is our saviour!"
"We have never seen something so perfect"
"We must bring freedom and crypto to the masses, to the common man who does not know how to fight for himself."
"We verified that against the blockchain."
"we will see a Rennaisnce over the next few decades, all thanks to Bitcoin."
"Well, since 2006, there has been a infinite% increase in price, so..."
"What doesn't kill cryptocurrency makes it stronger."
"When Bitcoin awake in normally people (real people) ... you will have this result : No War. No Tax. No QE. No Bank."
"When I see news that the price of bitcoin has tanked (and thus the market, more or less) I actually, for-real, have the gut reaction "oh that’s cool, I’ll be buying cheap this week". I never knew I could be so rational."
"Where is your sense of adventure? Bitcoin is the future. Set aside your fears and leave easier at the doorstep."
"Yes Bitcoin will cause the greatest redistribution of wealth this planet has ever seen. FACT from the future."
"You are the true Bitcoin pioneers and with your help we have imprinted Bitcoin in the Canadian conscience."
"You ever try LSD? Perhaps it would help you break free from the box of state-formed thinking you have limited yourself..."
"Your phone or refrigerator might be on the blockchain one day."
The banks can print money whenever they way, out of thin air, so why can't crypto do the same ???
Central Banks can print money whenever they way, out of thin air, without any consequences or accounting, so why can't crypto do the same ???
It's impossible to hide illegal, unsavory material on the blockchain
It's impossible to hide child pornography on the blockchain
All Bitccoins are the same, 100% identical, one Bitcoin cannot be distinguished from any other Bitcoin.
The price of Bitcoin can only go up because of scarcity / 21 million coin limit. (Bitcoin is open source, anyone can create thir own copy, and there are more than 2,000+ Bitcoin copies / clones out there already).
immune to government regulation
"a world-changing technology"
"a long-term store of value, like gold or silver"
"To Complex to Be Audited."
"Old Auditing rules do not apply to Blockchain."
"Old Auditing rules do not apply to Cryptocurrency."
Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
2013-11-27: ""What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar [27-Nov-2013], services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
2018-12: Listen up you giggling cunts... who wants some?...you? you want some?...huh? Do ya? Here's the deal you fuckin Nerds - Butts are gonna be at30 grandor more by next Christmas  - If they aren't I will publicly administer an electronic dick sucking to every shill on this site and disappear forever - Until then, no more bans or shadow bans - Do we have a deal? If Butts are over 50 grand me and Lammy get to be mods. Deal? Your ole pal - "Skully"u/10GDeathBoner, 3-Feb-2018 https://www.reddit.com/Buttcoin/comments/7ut1ut/listen_up_you_giggling_cunts_who_wants_someyou/
2018-12: "Bitcoin could be at$40,000by the end of 2018, it really easily could", Mike Novogratz, a former Goldman Sachs Group Inc. partner, ex-hedge fund manager of the Fortress Investment Group and a longstanding advocate of cryptocurrency, 21-Sep-2018, https://www.youtube.com/watch?v=6lC1anDg2KU
2018-12: Bitcoin will end 2018 at the price point of$50,000, Ran Neuner, host of CNBC’s show Cryptotrader and the 28th most influential Blockchain insider according to Richtopia,https://www.bitcoinprice.com/predictions/
View live Bitcoin / Euro chart to track latest price changes. Trade ideas, forecasts and market news are at your disposal as well. Historical data for the Bitcoin prices - Bitcoin price history viewable in daily, weekly or monthly time intervals. Bitcoin history for 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019. Bitcoin price chart since 2009 to 2019. The historical data and rates of BTC ... Bitcoin (BTC) price based on hundreds of cryptocurrency exchanges. Charts, ranks, volume, ROI, ATH, EMA & other analytics - everything you may need. Watchlist, alerts & price levels predictions - use or lose. Market Info. Total Cap 361B + 6.56B (1.85%) 24h Volume 23.2B-668M (2.8%) BVI 54.33-17.46 (24.32%) BITEX 101.95 + 1.93 (1.93%) BTC dominance 67.02%. Bitgur news Now you can follow us on ... The block reward was decreased for the second time in Bitcoin's history, resulting in a new reward of 12.5 bitcoins per mined block. The automatic 50% drop continued Bitcoin's original design to gradually decrease the number of newly created bitcoins until the block reward ends completely, which is estimated to occur in the year 2140.
There are some important signals on a chart of bitcoin that very few people are watching right now. What does it mean for BTC? We explain in this video. For more on Bitcoin visit: https://www ... Incredible BITCOIN Price Movement 2009 to 2017 ..what will be his next step...? More Information https://www.cryptooos.com/ Buy Bitcoin(Lambo) here https://c... URGENT: BITCOIN GOLDEN CROSS - OPPORTUNITY OF LIFETIME (btc crypto live news price analysis today ta - Duration: 54:15. Crypto Crew University 36,543 views 54:15 This video shows the historical chart of Bitcoin/USD starting year 2010 to 2019. Source: https://info.binance.com/en/currencies/bitcoin Please subscribe for ... Bitcoin Price Evolution - Chart Time-lapse 2010 - 2020 Music: Bisiesto - Hiracutch (Music promoted by Audio Library)