Cyber Currencies – Bitcoin Futures and Venezuela’s New Cyber Currency
Today with Marc Chander, Head of Global Currency Strategy at Brown Brothers Harriman we focus on some significant news for cryptocurrenies. Bitcoin future contracts are set to start trading before the end of the year with the CME and CBOE. We discuss the nuances between margin and futures. We also look at the recent announcement out of Venezuela and the adoption of a cyber currency backed by the Country’s resources.
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Bankers Have No Empathy ! You will see How day will steel the Children of the Little Bit’s Off Bitcoins and LTC and ,,,,,, Day Have Flat the Price today and will start to Corrupt the hole Price ! GOD Helpe US !
Laws Change Fast For Bankers to ( Robe ) ! Government and Police and Lawyers ! You will GO TO ! https://www.youtube.com/watch?v=H4rc5ZuVOvg
interesting ……..Debt topic…….Debt is a sin., charging and collecting interest on a loan is a sin.
Debt is not a sin, but charging interest is.
I stand correct…….thanks for the correction……, but, I think the commentator said that…. 🙂
correct to corrected……..
Romans 13:8-1021st Century King James Version (KJ21)
8 Owe no man anything, but to love one another, for he that loveth another hath fulfilled the law.
To END ! A little RAINT ! https://www.youtube.com/watch?v=b4hqfj-AiQY
I was looking into opening of crypto accounts and ti looks like a minefield of cyber identity disclosures (especially in the UK with their ridiculous money laundering regulations just meant to hurt the little people) and being trapped in a new and terrifying matrix. How simple things were with good old cash, to go into a store and buy a bottle of water or a cafe and buy lunch. What a nightmare world we are entering.
Coinbase ordered to report 14,355 users to the IRS
Anyone moving more than $20,000 on the platform is subject to the new order
https://www.theverge.com/platform/amp/2017/11/29/16717416/us-coinbase-irs-records
and just were did they get that order………..
I.R.S. issued regulations a few days ago. I did post a reference at the time.
Just a thought, should the world or country actually move to bitcoin, whats a person to do once he runs out? where would he get more if nobody pays wages in bitcoin?
Does somebody make another crypto and everyone mines it for income?
How would an economy actually work?
B,
I can’t see many countries giving up their independence with regards to currency; they will want to create their own digital currency, rather than adopt Bitcoin as their national currency.
Energy use is going to be a problem in future, unless we see modification to blockchain technology. I do not doubt we will see better developments in the future, wherein selective miners only store select sections of the chain at a time to reduce energy consumption.
b, watch and see what will happen in Venezuela, they are adopting Bitcoin, it’s called basket weaving 101. Try anything until the plebs revolt at the stupidity of it all, it’s a socialist currency something for nothing, Amen. DT
Venezuela is not adopting Bitcoin but their own blockchain currency.
They will just screw that up also………..
Why would anyone buy a Venezuelan backed crypto, as opposed to bitcoin…..
Unless looking at the barrel of a gun was involved.
Unofficially, Bitcoin is used in Asia, Zimbabwe and other African countries, Eastern Europe.
Bitcoin is a bit of a pain for everyday use because it is slow (minutes) and has a fee for conversion to fiat.
It could get used, but what happens when there are no more to be had?
wouldnt the economy stop dead?
I dont see bitcoin lasting as a currency, sure, for awhile for a few people, but I cant see it for a whole country.
A country is going to have to have its own currency.
I think I have to agree with you….b
“Wreaking Havoc” – HP Installs System-Slowing Spyware On Its PCs Without Consent
On the heels of Lenovo’s massive $3.5 million fine for preinstalling adware on laptops without users‘ consent, Hewlett-Packard is jumping in with both feet when it comes to installing spyware on its PCs without the consumer’s permission.
Venezuela also wishes to eliminate the power of the US with regard to their currency.
An internationally distributed ledger currency, of limited quantity, would render the US powerless to place sanctions on their currency.
Ira Epstein gives the lowdown on Bitcoin futures:
https://www.youtube.com/watch?v=gXbs6hCOk6Y&feature=youtu.be&t=45
Of course, for the rest of the world (i.e. Not the USA) people have been able to trade futures of bitcoin for some time.
Off Topic:
The spineless Prime Minister of the UK was absolutely shown to be useless by the First MInister of Northern Ireland. Thank goodness Arlene Foster (DUP leader) put her foot down or the UK would have been broken up by Juncker.
Off Topic: Frau Merkel is almost as spineless as May.
Merkel is offering money to Syrian economic migrants to leave Germany voluntarily.
The world is going more mad…………
CryptoKitties shows everything can — and will — be Tokenized
TROND VIDAR BJORØY@TRONDBJOROY DECEMBER 4, 2017
“If you’re following the crypto space, you’ve probably heard about CryptoKitties over the last week. The Ethereum-based cat-trading game launched last week and quickly became the highest spender of gas, bringing Ethereum to a new all-time high number of transactions. Currently, more than 10 percent of the network’s total transactions are created by players who, combined, have already spent millions of dollars worth in Ether on digital cats, clogging up the Ethereum network worse than most ICOs do.”
“The company announced today that it is increasing its kitten birthing fee in order to slow down the transaction rate.”
https://venturebeat.com/2017/12/04/cryptokitties-shows-everything-can-and-will-be-tokenized/
I missed that one……..cat’s,meow……..
This is so ridiculous! 😮
Comedy?
Crooked Hillary……
The WHO inspects Chinese drug manufacturers about once every 14 years.
The FDA inspects US drug manufacturers about once every 2.5 years.
Which do you think provides safer vaccines?
I wonder how much of a kick-back Hillary got.
This could be good news to miners:
QUITO, Ecuador (AP) — Ecuador has agreed to pay $337 million to ConocoPhillips-subsidiary Burlington Resources five years after a ruling that the South American nation illegally expropriated valuable oil assets.
5 years from now egg prices might drop?
JEFFERSON CITY, Mo. (AP) — More than a dozen states banded together Monday to ask the U.S. Supreme Court to block a California law requiring any eggs sold there to come from hens that have space to stretch out in their cages.
In a lawsuit filed directly to the high court, the states allege that California’s law has cost consumers nationwide up to $350 million annually because of higher egg prices since it took effect in 2015. The lawsuit argues that California’s requirements violate the U.S. Constitution’s interstate commerce clause and are pre-empted by federal law.
Egg prices in California are already more than twice Indiana; more like 3x
Some strange happened about year 2000.
Historically Margin Debt used to lag the stock market, but since 2000 it has changed:
A cyber currency controled by VEN dictator MADURO will be worthless as he and his friends have already stolen huge sums of money from black market operations. Some officer will depose him . Thats how chavez got in power. Pray Scott
Time to Dump Mueller…….
http://www.zerohedge.com/news/2017-12-04/kunstler-why-doesnt-trump-fire-robert-mueller-now
If a short etf comes out the we will be able to short this.
LONDON (AP) — Ireland has struck a deal with Apple to collect up to 13 billion euros ($15 billion) in back taxes and hold it in an escrow account pending an appeal before the European Court of Justice.
The government said in a statement Monday that an agreement had been reached “in relation to the framework of the principles that will govern the escrow arrangements.”
The European Commission had ordered Ireland to collect the money after concluding that two Irish tax rulings allowed Apple to pay less tax than other businesses — thus giving them an unfair advantage. The Commission ordered Ireland to collect back taxes for the years 2003-2014, which it estimated to be as much 13 billion euros plus interest.
Spain just dropped extradition requests for Catalonian parliament members in exile in Belgium, and also allowed 6 other members out on bail from Spanish prison.
Next Catalonian vote on December 21.
Posturing around North Korea escalates:
https://www.ndtv.com/world-news/video-of-chinas-fighter-jets-shows-fight-for-control-with-us-in-this-area-1783221
House Speaker Paul Ryan accused the DOJ and FBI of “stonewalling” the House Intelligence Committee’s wide-ranging subpoena related to the “Trump dossier,” along with the fact that the FBI appears to have willfully tried to conceal the reason for Strzok’s reassignment from the committee.
Mueller and Comey……on verge of being exposed for cover ups………
Interesting things happening in Venezuela:
Yesterday US90 million was moved out of Venezuela via Bitcoin.
Government responds by saying it will confiscate private wallets.
CFS comment: Good luck with that, if you don’t think there has not been further transfers over onto wallets not issued by Venezuelan exchanges.
You seriously think anyone with any money in Venezuela trusts the Government!
It is, however, typical of Marxist regimes to become more oppressive until they fail.
Govt. wants all the money…….the politicians want the money…….they just do not want the sheeple to have any money.
A blast from the past:
William Perry, adviser (Sec. Def.) to JFK, Discusses Nuclear war likelihood.
Silver……………$16.14………headed to below $16………..
I just bought another 250 oz, averaging down in cost.
I am waiting for 15.50………..
silver stealers.net…………….
silver going nowhere until CME is out of business, along with Comex and CFTC……
Yes, I like buying into the Silver miners while sentiment is continuing to fall along with the pricing. Likely a bit more short-term pain, for longer term gain.
Buy when there’s blood in the streets…..
Not going to be any blood left………… cuts by a thousand razor blades….
Ha! That is how it feels every day when I go look at more portfolio of PM miners. Thank goodness for the Uranium miners & battery metals miners doing OK lately.
Well, I was a couple days off (wrong) with my little reversal call but it looks like it is here now. I bought SILJ today at 10.11 and picked up more IPT yesterday at .28….
SILJ:
http://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=0&dy=13&id=p38214049697&a=554125514
Been adding a bit to some Silver miners and will continue to do so over the next week or 2.
Here are the 16 I’m going with in my personalized ETF the for Q1 Run: (there are about a dozen more I like but this is plenty and I’ll likely get it down to a dirty dozen or bakers dozen by the PDAC).
* Silver Stocks
Americas Silver Corp
Endeavour Silver
Silvercorp Metals Inc
Excellon Resource Inc
Impact Silver Corp
Avino Silver & Gold Mines
Santacruz Silver
Alexco Resource Corp
Aurcana Resources
Kootenay Silver Inc
Bayhorse Silver
Dolly Varden Silver
Silvercrest Metals
Defiance Silver
Brixton Metals
Klondike Silver
I like several of those.
If we actually get a pop in the 1st quarter, I may like a few of them as well. 🙂
Cheers amigo!
The waiting is no fun but I still don’t see any evidence that the next big move up is in jeopardy.
I’m glad to see signs of fear in the action today as that will help the possibility that an important low might be happening within weeks, not months. For now, I think we’ll see at least a decent bounce.
IPT got stuffed back down below fork resistance today. Let’s see how it closes…
http://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=1&mn=1&dy=22&id=p32068693791&a=531781930
Yes, sentiment and prices have been bearish, but this was expected going into mid Dec tax loss selling and prior to the FOMC meeting 12-13th for the Fedbabble rate hike. It is the same thing that happened in Dec of 2015 and Dec of 2016.
Thanks for the IPT charts showing where the support is, and I want to see how things look at the end of the week and open on Monday on the 11th. If there is a final despair washout in these miners then that’s where I’ll deploy my remaining 2017 dry powder.
There’s a lot more support at .24 – another 10%+ lower…
http://stockcharts.com/h-sc/ui?s=IPT.V&p=W&yr=7&mn=7&dy=22&id=p63766861465&a=529157338
Dare I say, at spanky’s levels.
Dan, spanky mentioned a lot of levels including going back to 11 cents. If you can find that exchange, you’ll see that I never had an issue with the possibility of it hitting .24 and it had nothing to do with what was bothersome about spanky.
Fwiw, I now have almost 20 times more IPT than I did in May.
CME………Circle Jerks………..
http://www.zerohedge.com/news/2017-12-04/cme-unveils-weirdest-chart-ever
Very interesting looking article, but will take some focused attention…
The Dow broke out versus the miners the other day but, to me, it looks like an opportunity to sell the former and buy the latter…
DIA:GDX
http://stockcharts.com/h-sc/ui?s=DIA%3AGDX&p=D&yr=1&mn=0&dy=0&id=p51332723787&a=561197322
Man, Is that ever a weird hysteresis loop:
We live in weird times…..
very weird times………
Failed Breakout Leads To Breakdown In Gold Miners
by @Goldfinger on December 5, 2017
https://ceo.ca/@goldfinger/failed-breakout-leads-to-breakdown-in-gold-miners
Ganns………out with hopes of a triple gain, based on historical data.
WallStreetJournal……………..ask MUELLER to step DOWN…..ha, ha,
http://www.zerohedge.com/news/2017-12-05/wall-street-journal-slams-too-conflicted-mueller-should-step-down
Mueller and Comey…….going to jail………cover up…….Trumped
Director of the FBI at that time was Robert Mueller. Robert Comey, who replaced Mueller as FBI director, was a member of the HSBC board of directors. The case was settled by Loretta Lynch, who then was U.S. Attorney for the Eastern District of New York.
Mr. Mueller’s media protectorate argues that anyone critical of the special counsel is trying to cover for Mr. Trump.
But the alleged Trump-Russia ties are the subject of numerous probes – Mr. Mueller’s, and those of various committees in the House and Senate. If there is any evidence of collusion, Democrats and Mr. Mueller’s agents will make sure it is spread far and wide.
Yet none of this means the public shouldn’t also know if, and how, America’s most powerful law-enforcement agency was influenced by Russia or partisan U.S. actors. All the more so given Mr. Comey’s extraordinary intervention in the 2016 campaign, which Mrs. Clinton keeps saying turned the election against her. The history of the FBI is hardly without taint.
Deputy Attorney General Rod Rosenstein, who appointed Mr. Mueller, is also playing an increasingly questionable role in resisting congressional oversight. Justice has floated multiple reasons for ignoring House subpoenas, none of them persuasive.
The Bankers Gangsters take over ! Electronic Money is the Prison the World Order Need ! Wak Up !!!!! Western World Day will Put you in a Electronic Control Freak Computer indentety !!!!!!!! Don’t you feel it ???