"If goods don't cross borders soldiers will" - Frederick Bastiat

"If goods don't cross borders soldiers will" - Frederick Bastiat

The quote above by Frederick Bastiat should be in the forefront of the Brexit negotiators minds,and whilst it has no direct relevance to Cryptocurrencies they are an indication of the way things are going because the currencies are border-less. Bitcoin and similar are the same or will be soon in every country in the world thanks to the internet.

Even pets are getting in on the act -

Image credit International Business Times

Dogecoin  pronounced Doggie-Coin is a new Cryptocurrency alternative to Bitcoin for dog and pet lovers…

What started as a joke meme featuring a likeness of the Japanese Shiba Inu dog to mock the frenzy surrounding Bitcoin, has turned seriously serious into a Bitcoin type alternative currency because of the unexpected growth in interest and followers.

It now has a listing on Bittrex and other Crypto exchanges symbol(doge) with a fast growing capitalization, US $188 million July 2017 but subject to big price volatility, reflecting the uncertainty with Bitcoin and all the new Cryptos.

With over 800 'Me Too' crypto startups  trying to imitate Bitcoin, there will be many big price jumps and falls, successes and failures, before the markets stabilise revealing the survivors for the long term.

Because Cryptocurrency is electronic, using the internet computers and smartphones for transactions, is international, borderless, anonymous, and the world is full of dog lovers, then Doge coin stands a very good chance of continuing its unexpected transformation from a joke dog meme to an international currency.

It’s already accepted at many stores to purchase everything from leashes to an animal DNA test kit… or you could use it to pay for a “dogsitter” when you go on vacation.

Cryptocurrency ATMs are already appearing in shops - see image - There will be pressure on petshops to accept dogecoin for both payment by smartphone and using Crypto tokens issued by ATMs

Image credit  Agora Financial UK Ltd

The pace of change is astonishing, but progress cannot be halted. The Crypto  Genie is out of the bottle.

The best place to learn about Cryptocurrency is at the coal face (No pun intended - err bitcoin is mined - coal face) Join Steemit. Earn and Learn. - http://steemit.com

The above information brought to you by  – http://bitcoin-in.net -  the website for all things bitcoin and cryptocurrencies. Books. Gadgets and Gear. Hardware. Gifts. Clothing i.e ‘Bitcoin Accepted Here’ Tee Shirts, Baseball Caps,Door Signs.

These penny crypto-currencies are HOT

You may have seen previously a post of mine titled  - My friend John Duncan of bit-talk.info just tweeted.

He's done it again and excelled today with a promotion for a new monthly Cryptocurrency newsletter of which he is the Investment Director.

The sales letter itself announcing the launch reveals some exciting news snippets.

At £37 for a year it represents incredible value as you will see in the full sales letter here at this link - http://bit.ly/2uJjb6e

The free bonus cryptocurrency ebooks and videos are worth more than that themselves. This is a screenshot from the letter.

And no I am not an affiliate. I am not being paid to promote this. I just think the revelations will interest many in the Steemit and Blogger community.

The invitation to subscribe letter can be read in full at this link - http://bit.ly/2uJjb6e

Here are some extracts

“These penny crypto-currencies are the hottest market on earth – but they won’t stay this cheap for long.”

Take for example, a penny crypto-currency called Reddcoin…

Reddcoin was specifically created to be used for purchases across the social media networks… like Twitter, Instagram and Facebook.

People love it because they can shop online with enhanced security and complete anonymity.

And in a recent 7-day period, the price of Reddcoin exploded in value by a whopping 1,134%!

That’s enough to turn £20 into almost £227… or £200 into £2,268.

Imagine…

Starting the week with £200…

And then ending the week with £2,268…

All with doing NO EXTRA WORK.

And all simply because you bought Reddcoin at the start of the week… and cashed out 7 days later.

Incredible, right?

Or how about Dogecoin (pronounced Doggie-coin)…

Dogecoin is a new alternative currency for pet lovers…

It’s accepted at a number of stores to purchase everything from leashes to an animal DNA test kit… or you could use it to pay for a “dogsitter” when you go on vacation.

In that same 7-day period, Dogecoin’s value increased by a whopping 267%!

But as exciting as that is, it’s nothing compared to a new alternative currency for folks living in the ‘Big Apple’… called NewYorkCoin.

That’s because the price of NewYorkCoin jumped an amazing 2,871%, OVERNIGHT.

In other words, if you had bought £20 of NewYorkCoin on that Monday… it would have been worth £571 by Tuesday.

But here’s where it gets even better…

The price of NewYorkCoin continued to climb. Prices jumped a staggering 56,606% over just a week … turning every £100 into over £56,606.

And if you had decided to get aggressive… and plunked down £2,000… you would be sitting on over £1.1 million today.

Imagine that!

More than £1,000,000 in profit…

In just one week!

You might not realize this, but there are now over 831 crypto-currencies exchanging hands on the open market.

And more and more traders and businesses have decided Bitcoin and crypto are here for real.Here is picture evidence of that -

Image credit  Agora Financial UK Ltd.

As Bloomberg reports:

“While the record-breaking rally in Bitcoin has captivated markets, demand for other digital coins is surging as companies raise millions in minutes, or even seconds…”

That gives us a rare chance to turn back the hands of time, and get into crypto-currencies that are dumping MILLIONS into the laps of everyday investors.

Go ahead, look it up for yourself after reading this. You’ll find that what I’m telling you is 100% accurate!

That’s how exciting today’s opportunity in penny crypto-currencies truly is…

I could go on and on…

But here’s what you need to know right now…

“These penny crypto-currencies are the hottest market on earth – but they won’t stay this cheap for long.”

Point being, this market is hotter than any traditional investing market you’ve ever known…

Hotter than any government currency…

Hotter than any stock on earth…

You’re already seeing Bitcoin hit record highs. And that’s OK…

Because these other crypto-currencies can go for as little as a few pennies…

That means that even ‘first timers’ can afford to do this without risking much money.

Just look at this snapshot from Tuesday, May 23rd’s biggest percentage gains in these ‘alternative currency’ markets: (See the letter)

As you can see, there were six different penny crypto-currencies that rocketed up over 300% in just 24 hours.

Six different chances to change your life…

Six different chances to grow rich...

In just a single day!

It gets better…

There were 21 crypto-currencies that went up more than 100% on this same day!

That's 21 different chances to double your money in a single 24-hour period!

Ask yourself…

Where else can you find profit opportunities like this?

Well, I'll tell you the answer…

NOWHERE!

To give you an idea of how profitable this situation really is, let's compare this to the biggest gains from stocks trading on Wall Street in the US...

It's not even close.

And that was just from a single day's data.

It's the same scenario day after day.

Now is the time to get in early, bearing in mind investments can go down as well as up so only risk what you can afford to lose, without touching the grocery money.

Be guided to the rapidly changing prices by subscribing to the newsletter at £37 for one year and receive invaluable information regularly and bonus cryptocurrency ebooks and videos. Free.

The letter can be read in full here at this link - http://bit.ly/2uJjb6e

Image credits  Agora Financial UK Ltd

The best place to learn about Cryptocurrency is at the coal face (No pun intended - err bitcoin is mined - coal face) Join Steemit. Earn and Learn. - http://steemit.com

The above information brought to you by  – http://bitcoin-in.net -  the website for all things bitcoin and cryptocurrencies. Books. Gadgets and Gear. Hardware. Gifts. Clothing i.e ‘Bitcoin Accepted Here’ Tee Shirts, Baseball Caps,Door Signs.

To See a Wide Selection of Drones.Accessories.Books.Hardware.Clothing.

Visit – http://onlydrones.net

Bitcoin – The People's Currency – Semi Official

Today I got news that I think is an extraordinary boost for those who believe cryptocurrency is the future.

From an ex US government insider

Dr Pippa Malmgren used to be part of the US Plunge Protection Team. The officially named Working Group on Financial Markets that researched market crashes to learn how to prevent them getting out of hand. It also helped draft statements for policy officials, intended to move markets.

So she’s no conspiracy theorist or alarmist – quite the opposite. She worked at the sharp end of government intervention in financial markets. And these days, that’s all that matters to financial markets.

Dr Malgrens incredibly well-informed past makes this quote from her ‘Macro Voices’ podcast interview rather startling:

"You have got to understand if the size of your debt problem is so big that it can’t be paid off and in fact even inflation, which is the usual way you would seek to default on your debt slowly over time, you can’t get enough inflation generated, then there is one further option. And that is you literally abandon the entire system of money, and accounting. I know that sounds unbelievably radical, but we have seen it happen before”.

There you have it, a currency system reset is now mainstream. Dr Malmgren also tells us how the coming reset will play out:

“Today, we are on the brink of a similar step change, and the way you will do it is you move to electronic money in conjunction with blockchain. Blockchain is the new ledger, and e-money is the new currency.”

She is saying the coming reset will be to a form of cryptocurrency. Probably a selection of national ones, or an international one. Your economic life could soon be running on cryptocurrencies.

It’s no surprise that technology (Internet,Computers,Smartphones,Blockchain) enables financial change. It’s always been the case with every reset. Mining and minting, the printing press, digital currency and now the blockchain. It’s a natural progression.

What is very surprising is that a government insider is telling you the coming reset will be to Cryptocurrencies. That’s a major break.

It used to be radical to say that governments would try to inflate their way out of the impossible amount of debt they’re in. These days it’s not even radical to suggest instead a complete reset of the monetary system to a form of electronic money that the government is busy demonising.

This confirmation from inside government circles certainly puts a lot of what’s going on into perspective.

The Signs are There

The global war on cash, for example. India’s experiment with forcing commerce online is shaping up to be a success after a very turbulent few months. Someone even named their baby GST, after the new Indian version of VAT.

Then there’s Russia’s President Vladimir Putin and his meeting with the developer of Ethereum. Not to mention the many small approvals of blockchain technology for use in financial markets around the world.

But there are plenty of bumps in the road too.

Dr Malmgren identified the longer-term issue at stake if governments do start to utilize cryptocurrency technology.

Who issues, owns and controls the currency?

For now, cryptocurrencies are private initiatives. Although Singapore is testing a government version.

The power to control and mint money is simply too big for governments to give up. It puts their entire revenue base at risk. Not to mention the ability to control the economy.

What sort of privacy goes with a cryptocurrency?

It’s called “crypto” for a reason. And privacy is one of the features making cryptocurrencies so popular to begin with. They’re hard to crack down on.

If two people can transact anonymously over the internet using a token they consider to be of value, then a new cryptocurrency can be born no matter what the government does to try and stop it. The power of cryptocurrencies comes with the feature of decentralisation – what governments fear most.

But, there are many other benefits of the blockchain over and above privacy. It’s certainly superior to government money today.

The opposition’s positions

Standing in opposition to the coming reset are voters. They rather like cash.

And it’s not just in Greece and Italy, where cash and tax avoidance go hand in hand. Germany and Japan, for example, love cash too.

But as Dr Malmgren explained, at some point a reset is needed. And cryptocurrencies offer one option as  the replacement system. You need to understand them to stay one step ahead of the coming reset.

Click on website image above or this link - http://bitcoin-in.net

Shock.Horror - No Bitcoin !

I was surprised this Sunday morning to receive the image below and find no mention or sign of Bitcoin in the payment of the future between countries.

I've copied my comment onto the bottom of the graphic.

The header image above is clickable or click - http://bitcoin-in.net

Drones will be key tools for the Police – A Chief Constable says

Best Drone Buys 2017 - Video
https://youtu.be/ibOuiCfhVGo

These are exciting times as Drones become ever more involved in practically all fields of human endeavor.

In sport, business, exploration, hobbies. And more. This website's aim is to keep up with ever advancing technology and bring stories of existing use in business and leisure fields, and reveal new trends and ideas which keep bubbling up.

The Drone market, understandably, is Booming. It is such an exciting new versatile invention for leisure interests and a valuable multi industry work tool,with aircraft in use and being developed for a wide range of activities.

image credit www.les-drones.com

UAVs (Unmanned Aerial Vehicles) are already used for policing, security surveillance work , and firefighting, they are even used by many companies to check on hard to reach assets, such as piping and wire-work, adding an extra layer of safety and security.

Drones are also used for surveying of crops, counting animals, crowd control, and new uses are being discovered daily.

Drones are changing the way many industries are run, and also enabling an increasing number of businesses to become more efficient. Drones help to increase safety and save lives.

They can alert the relevant authorities of someone in trouble, in need of help, and give the exact location. Forest fires and natural disasters can be monitored.

 They're not about all work and no play. Drones have become a hobby for many people around the world.

In the US, recreational use includes Drone Racing . Officially Organised and Controlled events are legal; however, the owner has to take some precautions before attempting to fly.

The aircraft must adhere to certain guidelines.For example, the device cannot be more than 55 pounds. The drone should also avoid being used in a way that will interfere with airport operations, and if a drone is to be flown within five miles of an airport, the airports traffic control tower must be made aware beforehand.

 (Note -This is a rapidly changing industry as also is it's technology and regulation.
You should check for updates for your aircraft choice before purchase, as well as the flying regulations for the area where you intend to fly)

 Drone Racing Hits the Forests of France 

 If you go down to the woods today you’re sure of a big surprise. That’s because Drone Racing is taking off in a big way in France.

 Airgonay is a French based club that specialises in fast moving gadgets and action packed activities.

They’ve developed a new form of remote-controlled fun with racing drones. Using High Tech controls the racers compete around a course weaving in and out of trees in a sport that could be straight from a Star Wars film scene.

Drone Racing video - over 12 Million views

It's fast and furious and nerves of steel are needed to get over the finish line

 You want a Drone? You are not alone! It is thought that approximately one million drones and unmanned aerial vehicles were purchased last Christmas.

 Luckily for you,there is a great guide at www.onlydrones.net detailing exactly what you need to consider as well as the prices on the market at the time of publishing.

First consider- what will it will be used for? Is it your first drone to gain experience? Are you a professional that flies drones on a regular basis This will have a big input on what you should buy and the price.

Also, will it be used mainly outside, or inside as well. The main things for consideration are quality, features, value, ease of use.

Make sure you take all four factors into consideration, For example, if you are a beginner, ease of use. A drone that is fairly easy to fly and keep in the air. Once you have considered the above, prices will vary depending on your answers.

DJI is one of the most well-known company-s when it comes to quad-rotors and has a great reputation. The ‘Phantom 4’ is their most popular product and in many people’s opinion, the best.

DJI Phantom 4 You can currently find this particular drone at around $1499. With Free Shipping. Tax Included. The Phantom 4 offers live HD streaming, 20 megapixel photos, a detailed app as well as 30 minutes’ flight time.

It is easy to fly making it perfect for beginners. Control Range 7KM. Speed 72 KM/H. Video resolution 4K 60fps. Sensor Range 30 m (3) Obstacle Sensing 5 Direction

Also from DJI is the ‘Inspire 1’ which offers many of the same features and more. This quad-rotor is twice as big and twice as fast as the Phantom 3 and also includes a 360-degree camera that can be rotated independently from the aircraft.

As a result ,it is the perfect drone for specialists in photography and video. This model is the choice for many search and rescue organisations and is available for just under $3000. Despite the price, this drone remains fairly easy to fly as with most DJI products.

 An alternative to the DJI, the Yuneec Q500 4K offers something slightly different. As the name suggests, the camera shoots 4k video and is also detachable from the quad-rotor so can be used as a handheld device.

The company isn’t as well-known as DJI but they still offer a great drone and one that should be considered at around $1300. Don’t be over-awed by the many choices available, use it to your advantage Once you have it clear in your mind what you want, you will find many options that range from less than $100 to $2000+.

You can also find drones with flight for around 5 minutes and up to 30 minutes. Drones come in all shapes and sizes.

It is enjoyable just looking at the exciting choices,letting the imagination run wild, fantasizing what you will do,what new inspirations will spring to mind flying your new aircraft.YES !

 If just imagining is exciting - It will go to another level actually controlling your own wonderful flight machine.So treat yourself.You deserve it. There are many more to look at,study specifications,watch flight demo videos at - onlydrones.net

http://onlydrones.net

To be taken to the Drone Show click image or link

Why The Banks Don't Like Bitcoin !

There are many more people who haven't heard about Bitcoin than have, especially the ones who do the day to day shopping and who will be needed to embrace the idea if the currency is to become part of the everyday scene. But we’ll need to see the words on this mug much more in everyday view for that to happen.

Bitcoin mug available from http://bitcoin-in.net

The irony is that  natives of Africa with their smart phones are more aware of this new coin than citizens of more advanced countries simply because the ‘Have Nots’ are usually more alert and alive to opportunities.

Those more content with their lot use phone technology to look at what their favorite celebrity is doing first.

Bitcoin and cryptocurrency is big news with financial traders and journalists, mainly for trading and betting the price movement on the exchanges. But it cannot achieve the growth predicted until it is being regularly and widely used for buying goods and services as well.

And that is the stumbling block. chicken or egg first.

Shops and businesses especially in the west are cautious, but they will have to make the first move in my view and install facilities to accept the bitcoin tokens that will be issued by ATMs on the High Street. So banks too will have to be early adapters.The main access to Bitcoins of course will be over the internet.

And the tokens issued at ATMs I understand  will be downloaded to smart phones for spending in the shops. Practically everyone in the world will have a smart phone soon, if they haven’t already, including children for their pocket money. And knowing children and computers they will be ahead of the game and showing the adults. The writer of this book obviously hasn’t got children.

                                                             Bitcoin Book available from httphttp://bitcoin-in.net

The ‘Its a Bitcoin Bubble’ stories haven't helped

In early 2016, bitcoin developer Mike Hearn dramatically announced that bitcoin had failed. The blame fell on rampant censorship in China and  Bitcoin community in-fighting over how to speed up handling the growing volume of transactions.

 A few months later, TransferWise CEO Taavet Hinrikus declared in an interview that bitcoin was dead.

Bitcoin is a currency that dies a hundred times a day, hence the yo yo ing price.

But despite all the knocking and predictions of doom, bitcoin’s value rose 125%, in 2016 making it the years top performing currency.

In early 2017, the price of one bitcoin soared past the $1,000 per Bitcoin mark. Despite a dramatic example on January 5th of the cryptocurrency’s notorious volatility – when its value dropped $200 in a single hour – bitcoin has since enjoyed relative stability at around $1.500 per bitcoin.

With respectable giants like Microsoft, Wholefoods and Save the Children deciding to accept bitcoin, the digital currency may now start to move up the ladder of respectability, away from its tag as the currency of crooks and criminals.

It is also being considered as a viable payment option for ecommerce websites in 2017?

And so it should. Its ideal peer to peer transacting, individual bitcoin wallet to individual bitcoin wallet, or individual bitcoin wallet to shop or company bitcoin wallet, so it cuts out credit card and bank charges.

The Banks are not going to like that.

Already they are softening their image in preparation for much needed proper competition, with the announcement that credit card surcharges are to be dropped. It was released as a government order, but the fact that there were no protests or squeals of interference would  suggest that it is a bank initiative

Crypto currency is the natural bedfellow for the Internet Computer and Smart Phone age. Made for each other. Its time has come. 

Banking will have to adjust adapt and change to meet the challenge of progress,just as other major industries like steel, coal, publishing and the shopping high street have done or are doing.

There are signs that trade organizations are now waking to the possibilities. The UK Business Forums user DEFCON1 thinks so and says  “It's getting harder to just ignore this trend as it becomes more popular and more mainstream,” he writes in the thread.

“While it’s not huge at the moment, the signals look like that's set to change and the concept could take off. 

Bitcoin integration also allows vendors to avoid the standard 2-4% charge of credit card transactions - with charges from third party BTC ( BTC The Financial Exchange Symbol for Bitcoin) vendors standing at around 1% - and the payment usually takes less than ten minutes to process. An immediate financial win for a small business.”

And as Adam White, Coinbase’s director told Entrepreneur:

“Small businesses, on average, are paying higher credit card fees than Walmart. Large businesses can negotiate lower credit card transaction fees. Small shops can’t. Bitcoin will level the playing field”

For those looking to trade internationally, bitcoin is universal. Its borderless, so another area for savings. Exporters will not have to deal with multiple currencies, exchange rates and expensive cross-border fees.

There’s no doubt, as DEFCON1 admits, that bitcoin has had some bad press. Yet with the security of ordinary currency also regularly compromised, he says he’d be happy to accept bitcoin for his business, but would manage the risk by “not holding too many to begin with". Above all, he’s interested in differentiating his business in a competitive market.

A final word in a comment received about the above article -

"Interesting article. We already accept Bitcoin for small transactions (for the reasons outlined above). I personally love the idea of the blockchain, cryptography and decentralised cryptocurrencies and the influence they could have on industries worldwide."

The best place to learn about Cryptocurrency is at the coal face (No pun intended - err bitcoin is mined - coal face) Join Steemit. Earn and Learn. - http://steemit.com

The above information brought to you by  – http://bitcoin-in.net -  the website for all things bitcoin and cryptocurrencies. Books. Gadgets and Gear. Hardware. Gifts. Clothing i.e ‘Bitcoin Accepted Here’ Tee Shirts, Baseball Caps,Door Signs.

To See a Wide Selection of Drones.Accessories.Books.Hardware.Clothing.

Visit – http://onlydrones.net

Still a tad confused - Amazon have you covered -

- 

Bitcoin could reach $ 5000 per 1 bitcoin soon ( Its around $2000 region this morning Sunday July 16 2017)

The Bitcoin price swing is a bit like this  -

https://www.facebook.com/DogsTodayMagazine/videos/10155498707954642/

I decided to have a small dabble.(Mad reckless fool).Transferring 40 Steemdollars  (which is also a cryptocurrency)10 days ago from my Steemit article writing rewards account into Bitcoin . It is easier and without a transaction charge transferring from one crypto to another.

I understand Coinbase are accepting purchases by credit and debit cards now,otherwise bank transfers using Seba are expensive at present.

Another example where Bitcoin will shake banks out of their hitherto 'charge what we like' cosy existence.

See the change, the wrong way, in my bit of Bitcoin in a week -

Stock research analyst Ronnie Moas said he bought bitcoin this weekend and thinks it could reach $5,000 per Bitcoin within a year.

"$5,000 could happen in a few months. It's only starting to gain traction right now," Moas, founder of Standpoint Research, told CNBC in a phone interview Wednesday. "It's starting to spread like wildfire right now."

He pointed out that since only 21 million bitcoin can ever exist, increasing demand for the digital currency will naturally drive its price up. ( My note - Don't panic! As you will see in picture of my account 1 Bitcoin goes to 8 decimal places).They are the cents or pence of Bitcoin and called Satoshis after the Bitcoin inventor Satoshi Nakamoto)

Image credit Time Magazine

Bitcoin briefly tripled in value this year, hitting a record $3,025.47 on June 11, according to CoinDesk. The digital currency traded Wednesday near $2,600, still more than double its Dec. 31 2016 price of $968.

"This is not something I could keep my hands off of," Moas said. "What would be more painful than losing [money in cryptocurrencies] is not acting."

The research analyst said he invested a few hundred U.S. dollars each in bitcoin, ethereum and another digital currency called litecoin through Coinbase.com. After he releases a 40-page report on cryptocurrencies in the next few weeks, Moas said he plans to invest more in them.

The research analyst's view on bitcoin joins the optimistic views of others on Wall Street. On Sunday, Goldman Sachs' technical analyst Sheba Jafari said in a note that bitcoin could rise as high as $3,915.

Full article by  Ronnie Moas here - article web address

http://www.cnbc.com/2017/07/05/bitcoin-could-nearly-double-and-reach-5000-soon-says-standpoint-research.html

WATCH: Here's what sets Ethereum apart from its rival Bitcoin  - A video By Evelyn Cheng CNBC. 

There is a short Barclays ad video before the Ethereum v Bitcoin video.

http://www.cnbc.com/video/2017/06/23/heres-what-sets-ethereum-apart-from-its-rival-bitcoin.html

You may like to watch a more detailed video about 'The Blockchain' here -

The Blockchain.Massively Simplified  - Video

https://youtu.be/k53LUZxUF50

I enjoyed this Video - The speaker Richie Etwaru is accomplished and easily commands attention.Demonstrating in an interesting way with slides and comparisons the basic idea of the Blockchain and how it will play a dominant role in the future.

The best place to learn about Cryptocurrency is at the coal face (No pun intended - err bitcoin is mined - coal face) Join Steemit. Earn and Learn. - http://steemit.com

The above information brought to you by  – http://bitcoin-in.net -  the website for all things bitcoin and cryptocurrencies. Books. Gadgets and Gear. Hardware. Gifts. Clothing i.e ‘Bitcoin Accepted Here’ Tee Shirts, Baseball Caps,Door Signs.

To See a Wide Selection of Drones.Accessories.Books.Hardware.Clothing.

Visit – http://onlydrones.net

Bitcoin & Ethereum Cryptocurrency Millionaires Might Be Attracting Attention From Regulators

image credit Bitcoin.com

Just recently Bitcoin.com has been covering the ongoing case between the U.S. tax agency, the IRS and its dealings with the cryptocurrency exchange Coinbase. However, bitcoiners are not the only ones being observed by taxation officials as regulators are growing concerned about ethereum traders this year accumulating millions of dollars in gains in a pseudo-anonymous manner.

The IRS Narrows Data Request to Coinbase Users with Transactions in cryptocurrencies For $20,000 or more

ETH Trader Tells the Public He Netted Over $200 Million in Gains This Year

According to a recent report from Bloomberg, a cryptocurrency trader started bragging online that he made a cool $283 million by investing $55 million into ethereum. The pseudo-anonymous trader revealed his ETH address showing the public his 413 percent profit accumulated this year.  

Full article here - http://bit.ly/2v2LFYj

The best place to learn about the currency is at the coal face (No pun intended - err bitcoin is mined - coal face) Join Steemit. Earn and Learn. - http://steemit.com

The above information brought to you by  – http://bitcoin-in.net -  the website for all things bitcoin and cryptocurrencies. Books. Gadgets and Gear. Hardware. Gifts. Clothing i.e ‘Bitcoin Accepted Here’ Tee Shirts, Baseball Caps,Door Signs.

To See a Wide Selection of Drones.Accessories.Books.Hardware.Clothing.
Visit – http://onlydrones.net

We used to hold up 'Hello Mum' signs behind Celebrities.Now its 'Buy Bitcoin'.

When  USA Federal Reserve Chair, Janet Yellen, was speaking  the other day about the problems with the cash we use every day - a man standing behind held up  a 'Buy Bitcoin' sign - See the image below -

Image Credit Bloomberg

The identity of bitcoin sign guy hasn’t been revealed. But CNBC reported that he’s made nearly $15,000 from his clever stunt. How?

People sent him fractions of Bitcoin (called Satoshis) to his bitcoin wallet. According to coindesk.com, “As of press time, that address has garnered 6.32570673 BTC, an amount worth just under $15,000 at current prices.

While most of the transactions involved, numbering 556 according to Blockchain.info, were small in scale, one notable contribution was for 1 Bitcoin. (Exchange  Symbol BTC.” I.E  approx $2500)

The crypto revolution is a cheerful one so far. When you have hundreds of people sending in fractions of a bitcoin, it’s a little like when you chuck a coin in the guitar case of a busker on the Southbank. It’s all in good fun.

But the “crypto revolution” itself is a serious and earnest rebellion against a financial and monetary system controlled by the government.

Don’t think the monetary establishment is idle in the face of this revolutionary crypto threat. While bitcoin and the cryptos harry the flanks of the Fed, the war on cash continues on other fronts. It’s a kind of “Axis of Cashless” between central banks, academics and corporations who have a vested interest in consigning cash to the hellfire of history.

Take Visa. Its CEO Jack Forestell says it wants to “put cash out of business”. The company is willing to put its… er… plastic where its mouth is. It will pay small businesses to abandon cash. According to The Wall Street Journal

Visa Inc. has a new offer for small merchants: take thousands of dollars from the card giant to upgrade their payment technology. In return, the businesses must stop accepting cash. The company unveiled the initiative on Wednesday as part of a broader effort to steer Americans away from using old-fashioned paper money.

 Visa says it is planning to give $10,000 apiece to up to 50 restaurants and food vendors to pay for their technology and marketing costs, as long as the businesses pledge to start what Visa executive Jack Forestell calls a “journey to cashless.”

De-cashing is defined as the gradual phasing out of currency from circulation and its replacement with convertible deposits. This initiative does not in any way target the abolition of money as an institution, but is, rather, a sweeping reduction of the role of currency, its cash component, in favour of transferrable deposits, its non-cash component.

The monetary authorities in many countries have already taken steps towards de-cashing. These steps include abolishing large denomination bills, imposing ceilings on cash transactions, introducing declaration requirements on the carriage of cash in and out of the country, reporting requirements for cash payments exceeding a specified amount, and even taxing cash transactions.

What is going on in the financial world ?. Is it any wonder that more and more people are getting nervous about the actions surrounding cash. De cashing as its called, without any clear explanation.

This unease almost certainly prompted the 'Buy Bitcoin' placard. To put money out of reach of bank and government control.

The best place to learn about the currency is at the coal face (No pun intended - err miners - coal face) Join Steemit. Earn and Learn. - http://steemit.com

The above information brought to you by  – http://bitcoin-in.net -  the website for all things bitcoin and cryptocurrencies. Books. Gadgets and Gear. Hardware. Gifts. Clothing i.e ‘Bitcoin Accepted Here’ Tee Shirts, Baseball Caps,Door Signs.

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Create a Bitcoin Bank with a $2 USB Drive

Friend John Duncan tweeted - How to create a secure bitcoin wallet with an inexpensive USB drive.

There are multiple ways to store bitcoins offline, using either a paper wallet or hardware options from companies like Trezor, Opendime, Ledger, and Keepkey. However, bitcoin users can also create a bitcoin wallet on a far cheaper USB thumb drive as well to store coins offline.

The link to the website with full details on how to create a secure bitcoin wallet with an inexpensive USB drive is at the bottom of this article The site is a wealth of articles and cryptocurrency news,so well worth a look.

There are a few different wallets you can download for this particular operation, but for this walk through, we will use an Electrum wallet. Other lightweight bitcoin clients used should follow a similar installation process.

Download the installer to the USB drive folder.

The first thing you want to do is download the Electrum wallet to your computer. The software can be used on Mac OS, Windows and Linux systems and takes only a few minutes to download. The next step after downloading the wallet software is to install it directly on the USB drive. It’s not the best idea to use the USB thumb drive for any other applications, and the drive should be utilized solely as a bitcoin wallet, but of course, that’s optional.

This link will take you to the article on the bit-talk website- http://bit.ly/2tfjSSq

The best place to learn about the currency is at the coal face (No pun intended - err miners - coal face) Join Steemit. Earn and Learn. - http://steemit.com

The above information brought to you by  – http://bitcoin-in.net -  the website for all things bitcoin and cryptocurrencies. Books. Gadgets and Gear. Hardware. Gifts. Clothing i.e ‘Bitcoin Accepted Here’ Tee Shirts, Baseball Caps,Door Signs.

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Anarchy ? No Thank You !

       Image Credit Joshua Earle

I know how bitcoin is going to change the world and free us from the slavery and grasping demands of greedy government and banks. Every post, page and article with Bitcoin in the title is telling me that.

It's nonstop. Like a stuck gramophone record. Paragraph after paragraph of what it will do and no mention of what it can’t. No system is perfect so there will be shortcomings. Perfection is something to strive for and is the motivator of improvement.

That there are so many crypto currency versions already is proof of that. Everyone thinks they can build a better mousetrap.

Much is made of Bitcoin not being able to lend, so cannot cause debt, which of course plagues most advanced nations today. Banks have lost their way and moved far from their simple origins. To act as middleman in collecting from savers then lending to borrowers for investment in enterprise and job creation.

We would not enjoy the level of comfort and lifestyles we have today without bank loans financing growth. The problem was, regulations governing loans became too lax, and greed fuelled by the introduction of bonus systems took off.

New products to sell to enhance the bonus pot were constantly created leading to the selling of bad mortgage bundles which led to the subprime mortgage scandal, the banking crisis, and the birth of Bitcoin.

We’re told cryptocurrency will solve all the things the public doesn't like about the present system. The invasion of privacy. The currency manipulation. The transaction costs. I read it will liberate us from government interference and slavery! Because of the internet and blockchain our rulers will be helpless to stop it.

Legislating against the use of currency other than those approved and controlled by national governments will be side stepped by operating from more accommodating countries, courtesy of the world wide web.

I know all of that, and there's much I like about it. Who doesn't fancy the thought of liberation and freedom to do what they like. But its fantasy. Its anarchy, which I’ve seen defined as not believing in rulers or government.

So a free for all in which the strong and selfish will always take from the weak. That has been the base instincts of humans since creation. We are not all born with equal strength so anarchy is a licence for thugs.

 Far better to have rogues that we elect robbing us, because at the end of their term they can be changed. Elected power is better than power taken by force in the vacuum of anarchy.

And what about things the people do like about the way their lives run. I’ve seen no mention of that in anything I've read. People like having schools ,teachers, police doctors and nurses and all the order of a civilised society which have evolved from anarchy.

Oh yes - we’ve done anarchy. We started in that state. Didn’t like it, chose progress instead. Those yearning for anarchy can find places on this planet where it still reigns today! Do we really want to go backwards ? The sensible thing is to carry on improving what we’ve built over thousands of years, not destroy it to start again with lawlessness - Baby and bathwater come to mind ?

Having rubbish collected and lives not blighted by gangs roaming untroubled by law enforcement. All the tools that make life tolerable and provided by government. The alternative to elected government is gang warfare and mob rule with no option of protest or mechanism to effect peaceful change.

I think the government will run their own crypto currency and most citizens being law abiding will opt for that. Yes, their privacy will not be the same as with private cryptos, but they realise if they want order and comfort it must be paid for.

I repeat. Better to have elected robbers doing the robbing because they can be  changed. The alternative is warring gangs ruling through fear, intimidation and protection rackets.

The system is flawed. All systems are. But what we have is the least worst.

Government run crypto will be the best of both worlds. The benefits that a modern state provides its citizens and the convenience and competition that the crypto will bring.

The fact that it is a universal currency gives the option when travelling to a foreign country of avoiding currency transaction charges. Transactions should be cheaper where banks are not involved. Greater competition should also keep costs down and banks will have to change their attitude and compete or perish.

Banks with discipline and the right unselfish desire to serve a community have a part to play. This is evident by the fact that citizens of African countries without banks are overjoyed that they can access them thanks to the spread of smart phones.

Natives with no education and little to eat have wireless access unthinkable just a few years ago. More Africans have smart phones than have basic toilet facilities and running water.

But that is about to change. Rapid growth in trade and living standards are predicted as banks prime the pumps of native enterprise with start-up loans. It is the combination of the internet and access to bank loans that will transform the hitherto deprived into a growing market force that will benefit us all.

That is how banks started and what they are best at. They must get back to their roots and the competition of Crypto taking over much of the bank transaction business will see to that.

Despite flying the flag for elected government and reformed banks above, I’m no big fan of either. I’ve had run ins with both. But I am a realist. I couldn’t have started or grown my business without bank loans. It would have taken forever to save the money necessary. Bitcoin doesn’t do loans. Banks do. There is a role for both.

The best place to learn about the currency is at the coal face (No pun intended - err miners - coal face) Join Steemit. Earn and Learn. - http://steemit.com

The above information brought to you by  – http://bitcoin-in.net -  the website for all things bitcoin and cryptocurrencies. Books. Gadgets and Gear. Hardware. Gifts. Clothing i.e ‘Bitcoin Accepted Here’ Tee Shirts, Baseball Caps,Door Signs.

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Top 10 Cryptocurrency Questions and Answers!.Guest Post

Guest Post By Jerry Banfield originally posted on Steemit .com

Top 10 Cryptocurrency Questions and Answers!

31 minutes ago

jerrybanfield64 in bitcoin

Learn and understand cryptocurrencies in just a few minutes from the basic questions to advanced answers unlocked the hard way by experience! Would you read this post for answers to the top 10 questions I see about digital currencies like Bitcoin and Steem or watch the live video at https://www.youtube.com/jerrybanfield to ask questions as I live stream this and answer more questions in addition to these top ten which I see most frequently?

Top 10 Cryptocurrency Questions and Answers!

1.     What are cryptocurrencies like Bitcoin, Steem, Ethereum, and Litecoin? Digital currencies such as Bitcoin and Steem are like electronic money issued and managed by users. Servers setup by entrepreneurs and companies handle all the transactions while exchanges like Coinbase and Bitstamp allow changing fiat currency like USD to cryptocurrencies like Bitcoin which provides the real value. Bitcoin is currently accepted as payment for goods and services on thousands if not millions of websites worldwide with continuing adoption every day. Cryptocurrencies are also a popular choice for the black market because of relative anonymity and ease of use compared to using credit cards and bank accounts. Digital currencies are also very popular in countries like China where moving wealth out of the national economy and into the global market is difficult.

2.     How is the value of a cryptocurrency determined and where can I see it? https://coinmarketcap.com/ has a list of cryptocurrencies ranked by the value of 1 unit of that currency times the cost on an exchange to buy it which equals the market capitalization. For example, 1 Steem today is worth $1.56 on Poloniex and Bittrex as I write this. With 235,749,278 STEEM available, that means in theory to buy every Steem at the market price today would cost $1.56 times 235,749,278 which equals a total market capitalization of $368,544,488. As you can see these numbers are all really fiction because the price moves all the time as does the quantity available meaning no one is going to actually be able to buy all the Steem in the world with $368 million. Still, the market capitalization gives a rough estimate of the total value today of a digital currency.

3.     What are the most exciting reasons to become involved with digital currencies? With the ability to transfer money in just 3 seconds to anyone in the world with a Steemit wallet without any fees, digital currencies like Steem make sending and receiving money 10 times easier than using wire transfers, PayPal, or Western Union. Digital currencies are just like cash meaning for merchants receiving payments this way guarantees you actually get the money whereas with processing credit cards using Stripe or PayPal there is no guarantee the customer actually paid because of the ability to easily to a chargeback with almost no chance for the merchant to win. I believe that money in the future will be primarily transacted from user to user with digital currencies meaning that buying even a little bit today may be the biggest investment opportunity going forward and an ideal retirement plan!

4.     Worst part about using cryptocurrencies? Lose your password or make a mistake in the transaction and you lose it just the same as if you lost your wallet or mailed cash to the wrong address. Cryptocurrencies can be extremely unforgiving when it comes to making mistakes because many wallets are only locked with a password with no hope of getting back in if the password is lost. To make matters worse, they are relatively easy to steal compared to say robbing a bank. For example if your wallet is unlocked on your computer or your account is open, anyone that has physical access to your computer and knows how to make the transaction could easily clean your whole wallet out with a few clicks the same as they could taking the cash out of your wallet. Law enforcement at less than the NSA level is not likely to be able to help out either unless the thief is sloppy beyond belief because it is easy to move any cryptocurrency through some kind of anonymous transaction that makes tracking it nearly impossible to those without access to the real time global electronic monitoring system which no one is going to allow use of to track down some stolen cryptocurrency! Fortunately Steem has both account recovery and Steem Power both of which make it significantly more difficult to instantly clean out an entire account. That said, I have seen at least one Steemit user accidentally send as much as $200,000 to the wrong account and thankfully the user that received it is giving it back in exchange for a 5% fee offered by the sender! Read more at https://steemit.com/steemit/@ravensw/steem-whale-accidentaly-send-a-lot-of-steem-by-mistake-to-no-name-user-ouch. Ironically the ease of losing cryptocurrencies is also likely to drive the value up!

5.     Which cryptocurrency is best to buy today? The best cryptocurrency to buy is one we are willing to hold onto even if it goes down. For example, I believe in Steem enough that I am willing to hold it even if it goes down 99% and would start buying more of it if the price dropped. I have no intention of selling and am continuing to invest for the long term because of the supportive and energized group of users we have on Steemit! One of the most expensive mistakes I made starting out with buying Bitcoin, Ethereum, and other altcoins was to buy with the belief that it should go up and therefore make me money. When it actually went down, I got into fear and anger because the real reason I had purchased was just to make money which obviously was not working out in the short term as the price dropped. Naturally I could only take this pressure so long and sold down low to "cut my losses" which also cut all my profits when I sold over 30 Bitcoin at around $200 in 2015 after a year of buying it and hoping to make money. Buying into any cryptocurrency with the expectation it should make money quickly is a guaranteed way to be miserable because even if it goes up, then the pressure is on as to when to sell? I am currently only buying Steem and investing in Steem going forward because I believe in the community of users of which I am a part. With fiat currencies, the government issuing the money and the people using it determine the value. Would it be a good idea to buy into whatever country's currency was hot today or recently up or had the best features? Obviously that would be a huge risk. The same with digital currencies. Just buying in on hype or to make money will produce little joy even if the price goes up. Buying in with the intention to become a long term user of that currency and to participate in its development and growth is the best opportunity. Therefore, I suggest and am practicing only investing in digital currencies where I am willing to go through the good times and bad regardless of the price. Steem is where I am today and where I plan to stay indefinitely!

6.     When to sell a cryptocurrency? Before Steem I was all in an another altcoin and really excited about it. When I first bought the price was low and made payments to me every week just for holding it. As I tried to participate in the community over the next several months, I was consistently met with a mix of excitement and hostility. When I began talking openly about this, the negative emotions won over in the community and in me. Originally I had invested and been happy to hold no matter what the price which quickly went up after I bought it. After months of frustration in trying to be of service in helping that cryptocurrency grow, I suddenly found myself staring at the price charts with fear. I was back to only seeing the currency as a way to make money and I knew it was time to exit because I now no longer cared if I missed out on the profits from a price increase while having the price go down had become completely unacceptable. I sold everything just before the price doubled again but still made 7 dollars for every dollar I invested. In other words, when the digital currency became a means to an end of making money instead of an investment I was excited about, I sold it because why have my money tied up in something I no longer care about? I used about one third of what I sold to invest in Steem and am extremely grateful for this experience today because I learned how to make a graceful exit. Could I have made more money by holding the other currency longer? Sure. Is the point of investing purely to make money? No because the point of investing is to use money to do some good in the world and if there is no joy from investing, there is no good in it either.

7.     Where are the best websites to use for changing fiat like USD and EUR to digital currencies like Bitcoin, Ethereum, Litecoin, and Steem? I use Coinbase.com with Bitstamp.net as my next best option for buying and selling Bitcoin, Ethereum, and Litecoin to USD because I can make direct transfers from my bank account and quickly move Litecoin into an exchange where I can then buy anything else. If you would like to try Coinbase, would you sign up with my link at https://www.coinbase.com/join/53f220834b1a7fd652000013 because Coinbase will give us each $10 for you using my link?

8.     What exchange is working the best today to buy altcoins? Bittrex.com is where I am buying and selling most of my Steem and Steem Dollars into Bitcoin because the transactions complete in about half an hour total from sending SBD to Bittrex to having USD in my Coinbase wallet. For buying into Steem, the reverse is true where I can have my USD changed into Steem in my wallet at the best rate in about thirty minutes. Poloniex is what I used previously but many users have been unable to make withdrawals leaving me to suspect a crash is coming.

9.     When to invest? The ideal strategy to me seems to be to invest consistently over time because this minimizes the impact of volatile prices. For example, if you decide you want to invest in Steem but are not sure if the price will be up or down later, buying in every month instead of all at once is often an ideal way to go forward because if the price goes down, you get a better deal next time. If the price goes up, you got a good deal buying in initially. If you feel the price is absolutely a great deal today, then buying in all at once can be a good strategy when combined with an ongoing investment plan to continue buying more in the future. I bought into Steem all at once to begin and then bought more as the price dropped right after I bought it. Today the price is up more and I am grateful just by making posts I am continuing to invest more as an author. If the price takes a serious drop below a $1, I will begin buying in again with cash in addition to my author rewards because I believe the price will be over $10 in a few months. In summary, investing over time is ideal because it helps account for the up and down prices more effectively.

10.    How about day trading crypto? While profits are possible trading cryptocurrencies, so are losses. My first year involved me spending hundreds of hours trading Bitcoin with a result of losing over $5,000 with nothing to show for it. Simply trading digital currencies is very similar to gambling because no one really knows what is going to happen next although anyone can guess! While I was lucky to do nothing expect lose money when I started, the worst thing that can happen is to get lucky right away and get a big ego about what an amazing cryptocurrency trader we are. The predictable result then is increasing the volume and risks in trades with eventually losing everything with again nothing to prove to anyone that we learned anything except a story. If you are not aware of how the very top traders and companies rig the game to wipe out ordinary traders, then the odds are stacked against winning just as much as going to the casino. I struggled with a gambling addiction not because I lost all the time but because sometimes I did win big but mostly lost. The night I turned $10 into almost a thousand in college was followed by years of gambling compulsively with most nights resulting in losing all my money and occasionally turning a few dollars into a thousand. Cryptocurrency trading is the same. The systems are setup at the highest level to capitalize on the ups and downs with almost no risk and are great for consistently taking money from ordinary traders like me when I thought I was smarter than everyone else while allowing just enough good things to happen so the game continues to be played. Avoid trading on all levels or risk the consequences of losing a lot of time and money overall even if initially or occasionally big success comes.

Thank you for reading this and I hope it was helpful!

If you have more questions, would you please contact @jerrybanfield on http://steemit.com

If you would like me to make more posts like this, would you please upvote this post because it will help me continue making Steemit my "real job"?

Love,
Jerry Banfield

The best place to learn about the currency is at the coal face (No pun intended - err miners - coal face) Join Steemit. Earn and Learn. - http://steemit.com

The above information brought to you by  – http://bitcoin-in.net -  the website for all things bitcoin and cryptocurrencies. Books. Gadgets and Gear. Hardware. Gifts. Clothing i.e ‘Bitcoin Accepted Here’ Tee Shirts, Baseball Caps,Door Signs.

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