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kneehighs

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kneehighs last won the day on April 21 2016

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About kneehighs

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  1. WARNING: LONG POST, but entertaining to read. This is meant for entertainment reasons only. Do what you want with the information. Some really prescient quotes from the January 9, 1988 article in The Economist "Get ready for a world currency" "THIRTY years from now, Americans, Japanese, Europeans, and people in many other rich countries, and some relatively poor ones will probably be paying for their shopping with the same currency. Prices will be quoted not in dollars, yen or D-marks but in, let's say, the phoenix" "As telecommunications technology continues to advance, these transactions will be cheaper and faster still. With uncoordinated policies, currencies can get only more volatile. Alongside that trend is another of ever expanding opportunities for international trade. This too is the gift of advancing technology." "As the next century approaches, the natural forces that are pushing the world towards economic integration will offer governments a broad choice. They can go with the flow, or they can build barricades. Preparing for the phoenix will mean fewer pretended agreements on policy and more real ones. It will mean allowing and then actively promoting the private sector use of an international money alongside existing national monies. That would let people vote with their wallets for the eventual move to full currency union." "The world phoenix supply would be fixed by a new central bank, descended perhaps from the IMF..." The truth is in 1996, the National Security Agency (NSA) founded in 1952, wrote a White Paper titled "HOW TO MAKE A MINT: THE CRYPTOGRAPHY OF ANONYMOUS ELECTRONIC CASH" It was first sent to an MIT mailing list. Later, it was published in the American University Law Review here. SHA 256, the secure hash algorithm used by bitcoin, was also created by the NSA: https://en.wikipedia.org/wiki/SHA-2
  2. I interpreted trading to mean across exchanges, not a medium of exchange. Regarding ease of use, that "decision" will be a process, not an overnight effect. From the publicly traded exchanges: Metropolitan Bank, which is up 40% from it's Nasdaq IPO last month, has a debit card "shift" that enables consumers to spend their btc. From the prepaid debit card industry: BitPay is prepaid debit card that enables spending btc. From the crypto industry: TenX, Monaco, Wirex, and Bitcoin Cash all have debit card systems worked out for release too.
  3. It's because he used Coinbase, which has notoriously slow fiat to btc conversion times. Trading btc to another crypto on exchanges like Binance or Bittrex averages about 10 minutes. Exchanging btc to fiat is even easy on Coinbase. Just sell and Coinbase will lock in the exchange rate at time you ordered the transaction. Then wait 7-10 days. Sometimes using a debit card to turn fiat into btc is fastest. I experimented with bitcoin.com's debit card purchase platform. Had my btc trading within 1-2 hours.
  4. Thanks! I keep my Michael Kors Hamilton riding boots in excellent shape so no need for new boots yet. Here's a good article on the crypto bubble. https://www.inc.com/bill-carmody/understanding-blockchain-bubble.html It's a short read that talks about telegraph, railroad, dotcom, and now blockchain bubbles. Great stuff.
  5. I don't think everyone on the planet will adopt Bitcoin, but it's an entertaining thought. More Alternative Currencies are being released everyday. These are called "Alt Coins" or by professionals "siht* coins". Many new ecosystems will be created around various cryptocurrencies in the coming years. Yes, I converted my crypto to fiat for shoes, lol.
  6. Bravo to this gentleman in Mexico
  7. Speaking of entertainment. Starting tomorrow, things will get really interesting when CBOE starts bitcoin Futures trading. My current 5 take aways. Manipulation will occur towards the expiration of futures contracts, not when the futures first get issued. Volume on bitcoin will increase CME/CBOE isn't focused on layering derivatives on top of derivatives. The purpose of CMOE is originally to protect risk of producers of underlying's like pork bellies, wheat, corn etc. bitcoin miners will benefit from futures I will guardedly watch my holdings 100%
  8. Let the fools overlook the last 8 years of history in a increasingly disrputive technological world. Mt. Gox, Silk Road, NY State Licensing controversy. Crypto survived all that with massive gains. Same boring talking points over and over again. It's not. Monero is. Criminals would find a way to be criminals with fiat money if crypto didn't exist. It's not the tool that is bad. It's the user's actions. Agreed, bitcoin is speculative and volatile. Bitcoin most certainly can not be shut down. That would require shutting down the global internet. To their credit, the CEO and his teammate did a live Facebook video. Their problem was they didn't put their BTC into cold storage. They left them online. That's one way of looking at it.
  9. Australia’s largest Stock Exchange will start using Blockchain: https://www.cryptocoinsnews.com/world-first-blockchain-will-power-australias-biggest-stock-exchange/amp/
  10. You have a right to your opinion. To clarify, this is NOT a fraudulent ponzi scheme: Bitcoin is decentralized. Ponzi schemes are a centralized operation through one control group. Bitcoin will never be shut down. A ponzi can be shut down by the control group instantly. Bitcoins distribution and supply is handled by open source code. Ponzi schemes are secretive and rely on bringing in new participants. The Blockchain allows for complete transparency. Just hop an a bitcoin explorer to trace transactions. Try that with a Madoff scheme. Bitcoin doesn't promise revenue via dividends. Ponzi's do. The growth of blockchain is due to demand from the market. It's so large, it's got a regulated point of entry for institutional money now. The growth of a Ponzi is based on fraudulent promises of dividends. Legally regulated institutional money is now pouring into Bitcoin via CBOE, CME, and NASDAQ futures. Some institutions will apply the Cash and Carry Arbitrage strategy in trading futures too.
  11. That's right. Bitcoin is a deflationary currency b/c only 21 million will ever be minted. That number will never change. And now you have Wall Street money fighting for their share of bitcoin. CoinBase and Gemini just rolled out institutional level storage agreements for BTC. Institutional money (aka Wall Street money) in bitcoin can now be bonded and insured. With the advent of Bitcoin Futures trading on CBOE, CME, and NASDAQ, institutions can now buy bitcoin safely. This will allow an Exchange Traded Fund because ETF's can now buy the futures. Some will apply a trading strategy called cash and carry arbitrage. This where the futures price is greater than the spot price. They sell the Futures contract for 20K and buy bitcoin at 15K and keep the difference. The Early Adopter stage is almost over. IMHO, by the time NASDAQ rolls out bitcoin futures, it will be over. Then it's Wall Street stage. Then it's Main Street (Square Cash) We are at the beginning of an S-curve of the greatest bull market run of all time. Fasten your seat belt and HODL (Hold On for Dear Life).
  12. ALL going to end in tears? Unless one is smart enough to secure gains.
  13. If that happens, there might be a short term correction. Corrections are expected. Personally, I'm always prepared for a correction. Hacking isn't unique to Bitcoin. I really can't believe the naysayers here. Volume is up on Bitcoin so much that even Coinbase.com crashed. Whales upon whales are getting in now. More buyers than sellers.
  14. To simplify. There are a limited number of Bitcoins available: 21 million. 4 million are lost forever. That leaves 17 million. These coins will NEVER INCREASE in number. But the number of users is increasing and will continue to increase geometrically. It's a new paradigm. It's not a bubble. EDIT: I'm keeping my eye on BitIndia, which allows people in India to be their own bank.
  15. Shopify (an e-commerce platform), a publicly traded company on the NYSE , will now enable MONERO transactions for the below mentioned musicians. Shopify already accepts Bitcoin. https://www.forbes.com/sites/laurashin/2017/12/05/cryptocurrency-monero-to-be-accepted-by-45-musicians-such-as-mariah-carey-g-eazy-sia-for-holidays/#3d09d22f7885
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