By now your feed is absolutely filled with Bitcoin. All of a sudden the “experts” are coming out of the woodwork. A bunch of people are offering courses. And there’s talk about the “bubble.” [Read more…]
By now your feed is absolutely filled with Bitcoin. All of a sudden the “experts” are coming out of the woodwork. A bunch of people are offering courses. And there’s talk about the “bubble.” [Read more…]
If you write about almost anything on Facebook it will turn up on some time line among your friends and other places.
If you post is popular and gets lots of “Likes” and “Comments” it will turn up even further afield.
If you write a number of posts covering singular topic and it also gets a lot of “Likes” and “Comments” then it will attract the attention of all sorts of people.
These last few weeks I’ve been posting quite a lot on Facebook on the subject of crypto currencies in general and Bitcoin in particular. So I wasn’t too surprised to receive out of the blue a “Friend Request” from someone who describes himself as:
Seems like a nice friendly way to start a conversation, so I slipped over to his Facebook profile to see what he may be about.
Guess what? He is a Network Leader.
It says so on his Facebook Time Line!
Lots of times!
So I told him a little about my career in general including my interest in trading.
Well! What do you know?
So I pop over to the web site for a look around. Quite professional. Contact details and an outline of their products and how wonderful they are. All the usual “buy” signals. I’m not quite sure what Mr Jax means by “it’s a newborn” and “we have the advantage of being on top of the chain”. So on to:
Ah! Is that what he means by “newborn”?
So back to Paul Jax on Facebook.
Next, I do a search on Google. Despite his seemingly impressive credentials, Google can find no reference to a Mr. Griffin Wrights – anywhere.
But Google can find a reference to the address and phone number on the web site.
It’s a former residential property in Dublin, Eire that now houses an office wherein Companies are registered. This means it’s the business’s registered address. It doesn’t mean that anyone from the company actually works there.
So let’s ask another question.
Apparently Vortex Profits Ltd has been trading since 2015 and been on the web since 2017 (which matches the web site registration from who.is).
Mr. Jax says he is an investor with them.
This would indicate Vortex Profits Ltd is an investment company registered with the Bank of Ireland under the Companies Act 2014. There is no mention of this on their web site.
Further, according to Vortex Profits Ltd web site.
So what do I think of Vortex Profits Ltd?
Well, nothing really… They’re a brand new Company, with no history, no track record, no personnel and not registered with the appropriate authorities and having only a registered address.
When I ask Mr. Jax about his investment he says he is “doing great with it”. What does that mean?
What would your answer be?
Pavil Options – If It Looks Like a Turd
Below is the opening story from a New York Times article published February 3, 2005, then pretty much the very TOP of the biggest real estate bubble in history.
But very few people realized at the time that the market was such a bubble, even though it was exhibiting all the classic signs:
Angelina Umansky, a 39-year-old spa owner from San Francisco, was visiting a friend in Miami two weeks ago when she heard about a new condo development downtown.
Hoping to find a vacation home, but worried that others were interested, too, Ms. Umansky arrived at the sales office at 8 a.m. the day after seeing some model units.
About 50 other buyers were already in line. Two hours later, a sales agent summoned her and said she had four minutes to decide which unit to buy. She acted fast, offering $350,000 for a two-bedroom, two-bathroom unit.
Ms. Umansky thinks she got a bargain; when she called on behalf of a friend less than eight hours later, she was told the asking price on a unit like hers had climbed to $380,000, a nearly 9 percent price increase.
A central Florida homebuilder, Transeastern Homes, used to hold sales events at hotels and convention centers.
Prospective customers would spend five minutes looking at a subdivision map before buying. The company would announce price increases – up to 16 a day – over a loudspeaker, putting the crowd into a frenzy.
There are stories of dozens of condo buyers camping overnight in New York City for a chance to buy an incomprehensibly expensive unit.
Fights would break out between agents at showings. Some customers would bribe builders for a chance to buy a unit.
But one of the biggest signs of the top of the real estate market was “investors” flipping pre-constructed condos…
Someone would put a hefty down payment on a condo before the building even started construction.
They had no intention of ever living there. They just wanted to flip to another buyer at a higher price, often just a few weeks later, when the building was slightly further along in construction.
According to the Times, a 1,000-unit Miami condo building sold out in 36 hours back in 2004. At least 50% of the buyers were flippers.
This is the type of behavior that happens in a mania– people stop buying assets because of the investment’s strong fundamentals. They have no intention to hold. They just want to flip quickly and make easy money.
Instead of pre-constructed condos, however, today’s flippers are participating in the most frenzied sector in the market: Initial Coin Offerings (ICOs).
If you’re not familiar, an ICO is a way for a business to raise capital from investors.
Unlike traditional ways of raising capital, though, like venture capital funds or angel investors, businesses raise capital through an ICO by selling a digital “token”.
These tokens sometimes represent ownership in the business. But more often than not, the tokens confer nothing more than a prepayment for the company’s product or service.
ICOs are sort of like crowdfunding meets crypto-finance.
Imagine that you’re surfing your favorite crowdfunding site and come across a business selling some new Lego toy.
You pay $20 to pre-order the Lego toy, becoming one of the company’s many crowd funders.
With an ICO, the company would issue you a token, representing that you are entitled to one of its Lego toys at some point in the future (presuming they ever get around to making them).
These tokens trade actively in the market; speculators buy and sell these tokens, and prices have been rising at an unimaginable pace.
So it would be like taking your Lego toy token, and then re-selling it at 10x the price you paid only a few days later.
Is the Lego toy really 10x more valuable? Probably not. But this is common among ICOs.
Because of these huge returns, ICOs are attracting more and more speculators looking to make a quick buck.
Most have no idea what they’re buying, or why. They don’t care about the fundamentals of the business. Or the risk. They’re flippers.
Now hedge funds are starting to flip ICOs too.
Consider the recent ICO by messaging app Kik Interactive. The company raised around $100 million from over 10,000 contributors.
A group of early investors – including Blockchain Capital, Pantera Capital and Polychain Capital – invested $50 million in a Kik presale before the ICO.
And they received a 30% discount on the token price.
These early investors can sell 50% of their stake ($25 million) at any time – locking in a more than $10 million profit.
In addition to flipping, ICOs are getting so frothy that even celebrities are starting to endorse them.
Floyd Mayweather (the boxer) posted a photo of himself on a private jet in front of piles of $100 bills saying “I’m gonna make a $hit t$n of money on August 2nd on the Stox.com ICO.”
Paris Hilton told the world she was looking forward to participating in the LydianCoin ICO (whose founder happens to be facing jail time).
These are all signs of an extraordinary, massive bubble.
As with all bubbles, there are certainly some legitimate, well-managed businesses whose tokens might actually be worth something.
But at the same time there’s limitless garbage out there masquerading as investments.
This bubble might persist for years. Or months. Or days. No one knows.
We only know that, at some point or another, bubbles always burst.
Keep that in mind if you find yourself chasing the next hot ICO. Make a calculated decision whether or not it’s worth the risk. And recognize that there’s a decent chance you could lose your entire investment.
Today I got a new friend request on Facebook.
After I’d accepted the request, he sent me a message:
Nice and polite… friendly greeting. Followed by…
Sending me a Friend Request on Facebook and then asking me “What do you do?” always alerts me.
Then Alert number 2 comes along
So I pop over to the web site to see what is there.
Meanwhile, back on Facebook…
Well, that’s strange… According to Mr Hensley’s Facebook page, he describes himself…
Now I know you could be self employed and at the same time hold a position within a company, nothing altogether strange about that. But as I’d asked him about a personal trader, I’d have thought he would have volunteered the information.
Also, he mentions a competitor company (why?), but doesn’t seem to understand how that company works. So I press on…
Co-Founder is Alfred Wudens. Who are the other founders?
If Mr. Hensley had done his homework he’d have known I spent some years living in Bristol. I can forgive his misspelling of Bridge Road, but he doesn’t seem to know that Bridge Road is a quiet, leafy, residential road in one of the more affluent parts of Bristol. Hardly the sort of street where one would expect to find the head office of an international company – maybe Mr. Wudens also works from home.
And as for this illustrious co-founder, despite its power and reach Google can find no such person – anywhere.
Meanwhile, to trade investments in
Of course, none of this information is available on the web site. So…
Yes, the web site also says they’ve been trading since 2013. But a quick who.is search shows the domain registered first on 17 November 2016 – and only registered for 1 year. Hardly what you’d expect from a prestigious, international company of good standing.
Now if you’d really like to develop a passive income with an established company that has over 8 years of automated trading experience and now using Bitcoin, CLICK HERE
Related ===> Networking Leader From San Francisco
Earlier today in Sri Lanka’s Colombo International Airport, a passenger was arrested by local authorities and found to have stuffed nearly $30,000 worth of gold into his rectum.
That’s nearly 1 kilo of gold. In his ass.
The gold had been carefully wrapped in plastic and included four small bars and multiple chains of jewelry.
Airport police were tipped off when they noticed the 45-year old man “walking suspiciously.”
Curiously this was not even close to the first incident of rectal gold smuggling in Sri Lanka. Just last week another passenger was found with 314.5 grams of gold stuffed inside her rectum.
Gold, of course, has a long history of value and marketability, going back to ancient civilizations that disappeared thousands of years ago. Archaeologists have unearthed dozens of graves, some of which date back more than 6,000 years, containing gold artifacts.
It is, by far, the oldest form of money that is still in existence today.
And it is a form of money. Despite you and I not being able to pay for a Starbucks coffee with gold, governments and central banks continue to hold the metal as part of their official international reserves.
Gold has also long been considered a traditional “safe haven”. When the world goes crazy, the gold price spikes.
In the days after the 9/11 attacks 16 years ago, for example, the gold price shot up 33%. In the first few days of the Global Financial Crisis in September 2008, the gold price rose more than 20%.
Every time North Korean tests a missile, the gold price goes higher.
In May 2013, for example, the North Korean missile test sent gold rising $54. Even earlier this year, North Korea’s missile test in April sent the gold price rising nearly $40.
Yet now, despite the prospects of war on the Korean peninsula being at the highest levels in decades, the gold price is actually falling.
This is totally backwards.
It’s not just the gold price, either. Physical demand for precious metals has also been lower in 2017, given the US mint’s dramatic 67% decline in sales earlier this year.
And the World Gold Council has also reported steep declines in gold demand so far in 2017– 18% in Q1 and 10% in Q2, most notably due to reduced demand from gold ETFs.
This trend makes sense given what we see in the news… or rather, don’t see. Have you noticed that no one really talks about gold anymore?
Gold commentary used to be a staple in financial media. Now the winds seem to have shifted – it’s all about crypto currency.
Cryptocurrency is definitely exciting. And with such absurd gains, it’s no wonder that alt coins, like Bitcoin, has been dominating headlines.
Just last week we received a payment to our bank account in the UK; the wire transfer originated in the United States, yet took three days to arrive.
Along the way, the banks took around $500 in fees. Around $150 of that was the wire transfer fees charged by the sending bank, receiving bank, and correspondent bank, plus another $40 in fees charged by SWIFT, the international payment messaging service.
On top of that, the sending bank charged a fat fee to convert the funds from dollars to pounds sterling even though we explicitly instructed them to NOT convert.
Then the receiving bank charged another fat fee to fix the mistake and convert the funds back from pounds to dollars.
A crypto currency payment over the blockchain, on the other hand, would have taken minutes… maybe an hour or two at most. And cost less than $1.
As we’ve posted in the past, the crypto market is full of volatility. But the underlying technology is still revolutionary and highly disruptive.
(Not to mention our friends in Sri Lanka don’t have to cram any bitcoins into their rectums…)
But crypto’s power and potential is not in conflict with gold. Both represent a decentralized form of money. Both represent an alternative to the banking and monetary system.
It’s not a competition between gold and Bitcoin.
As a colleague hase said, I own gold for all the “I don’t knows.”
Will the US and North Korea go to war? I don’t know.
Will the US default on its enormous (and growing) $20+ trillion debt? I don’t know.
Will the central bank be able to expertly engineer the unwinding of its $4.5 trillion balance sheet and raise rates from historic lows without triggering any consequences whatsoever in financial markets? I don’t know.
By being 100% in dollars (or euros, pounds, renminbi, etc.), you are effectively saying,
“Yes, I do. I know exactly what’s going to happen in the future. Everything is going to be fine forever, so I don’t need to hedge myself even one bit.”
That’s a pretty lofty bet.
Gold and crypto are both cut from the same cloth… and one trait they have in common is that they’re both for the “I don’t knows”.
This is not a question of either, or.
The answer is both.
We grow our Bitcoin using automated trading software (even when we sleep) Click Here to Learn More
In 1869, a 48-year old Jewish immigrant from the tiny village of Trappstadt in Germany’s Bavaria region hung a shingle outside of his small office in lower Manhattan to officially launch his new business.
His name was Marcus Goldman, and the business he started, what’s now known as Goldman Sachs, has become the preeminent investment bank in the world with nearly $1 trillion in assets.
They didn’t get there by winning any popularity contests. [Read more…]
My Facebook friend Dorothea Carney asked me to give my take on Bitcoin vs Etherium and asked whether I preferred one of these alt coins over another. That’s a simple question to ask, but it’s not easy to answer.
Without getting over complicated, this is my best shot.
The simplest take I can give you on this is to compare crypto currencies or “Alt coins” (as they are becoming known) to ordinary to gardening tools.
Both these tools are used for digging and apply the laws of physics in the form of leverage to enable the user to lift and move clods of earth from one part of the garden to another.
The spade is pretty much limited to digging holes or a trench with straight even sides.
The fork can also be used for digging holes, but because it has multiple prongs the holes don’t have such even sides. On the other hand it’s also useful for breaking up clods of earth and leveling the soil. And again, because of it’s multiple prongs it can be used for turning compost and lifting straw, etc. So it’s more versatile, though in some respects not as strong as a spade
Both these tools are used for storing data and apply mathematics in the form of cryptography to enable the user to move value from one part of the internet to another via a blockchain (distributed ledger).
Bitcoin is pretty much limited to transferring one type of data in a form that is known as a “store of value” – more commonly “money”. As a result various financial institutions around the world are beginning to introduce financial instruments (derivative, futures etc.). The irony here is that Bitcoin is directly negotiable, so it will trade outside of the exchanges as a proxy based on its spot price. This feed back loop will prove that the more valuable it becomes the more valuable it will become.
So in these respects, Bitcoin is like a garden spade
To understand Ethereum it’s helpful to understand how the internet works.
Today, our personal data, passwords and financial information are all largely stored on other people’s computers – in clouds and servers owned by companies like Amazon, Facebook or Google. Even this post is stored on a server controlled by a company that charges me to hold this data should it be called upon.
This setup has a number of conveniences, as these companies deploy teams of specialists to help store and secure this data and remove the costs that come with hosting and up time.
But with this convenience, there is also vulnerability. As we’ve learned, a hacker or a government can gain unwelcome access to your files without your knowledge, by influencing or attacking a third-party service – meaning they can steal, leak or change important information. And nothing you ever post on Facebook belongs to you – NOTHING.
Brian Behlendorf, creator of the Apache Web Server, has gone so far as to label this centralised design the “original sin” of the Internet. Some like Behlendorf argue the Internet was always meant to be decentralised, and a splintered movement has sprung up around using new tools, including blockchain technology, to help achieve this goal.
Ethereum is one of the newest technologies to join this movement.
So while bitcoin aims to disrupt the likes of PayPal and online banking, Ethereum has the goal of using a blockchain to replace internet third parties — those that store data, transfer mortgages, effect contracts and keep track of complex financial instruments.
So in these respects, Ethereum is like a garden fork – it’s more versatile.
Lots of businesses around the world are experimenting with Ethereum to see how it might be applied in their particular field or discipline, which means it’s not so easily understood by the masses, ergo, demand is not so great.
Bitcoin is more like money than any other money. The masses think they understand money, ergo, demand is big and getting bigger.
As with my original comparison, there are many other garden tools that employ applied physics and there are many other Alt coins being introduced that use applied mathematics in the form of cryptography. At some time in the future I would expect that something will supersede Bitcoin, just as paper did with gold.
However, gazing into my crystal ball I would expect that Bitcoin will remain the favoured “currency” for a while yet. Just don’t ask me: “For how long?”
The financial landscape is changing with governments and banks recognising that a new unified currency is needed throughout the world.
Crypto-currencies have been on the market for around 8 years now with Bitcoin being the pioneer of the first fully decentralised currency.
It was created as a unified global currency to take control away from traditional institutions and give it back to the people.
Today Bitcoin is the most recognised and valuable premier currency in this digital market.
Satoshi Nakamoto released Bitcoin to the world on 9th January 9th 2009.
On 6th February 2010 Bitcoin was officially accepted as an exchange currency.
On July 12th 2010 Bitcoin value increased tenfold from $0.008/BTC to $0.080/BTC.
Today, Bitcoin is valued at around $2,800 per coin!
You may have seen on TV recently that Crypto-currency is set to take over the financial world and become the currency of our future.
This brings about an opportunity for us all this ever-growing market with global demand.
Crypto-currencies may be new to some, but it is without doubt the future of bartering – the use of digital currency instead of traditional money.
We have been working with an established fully automated Crypto-currency trading system for the last 4 m0nths where you can enjoy the benefits of over 460% return over 12 months.
We have received a return on capital of approximately 1% per working day – every working day, 5 days a week, without fail.
This does not include any increase in the changing value of Bitcoin. The value of Bitcoin is increasing rapidly with more than 300% increase in the last 24 months and it’s expected to continue its growth over the coming months, so your profit could be even greater than expected.
In pure financial terms
$1,000 over 12 months = $4,600+
$10,000 = £46,000+
Now that is far better odds that leaving your money in a bank.
If you would like to know more, click on the button below and watch the video.
There is no denying the fear that presently concerns those who hold Bitcoin as to whether the crypto currency might fork on August 1st. This is currently playing havoc with the price of bitcoin.
Many speculate the currency is in a bubble. But generally currency bubbles are created by central banks who expand and contract the money supply. Clearly the volatility and large price swings in the crpto currency markets worry many people, often because this is the first time they are experiencing what it is like to trade in a truly free market.
Added to which, most amateur investors make their decisions based on emotion – “fear” and “greed” being the most prevalent.
When the value of an asset begins to fall, that’s when panic sets in among the amateurs and they sell. It’s also the time that the professional, seeing bargain prices (and having confidence in the future potential) will buy.
The corollary being that when prices begin to rise, amateurs jump on the band wagon wanting to enjoy the upward rise; whilst the professional will sell – so taking profit.
I’ve heard many people say that they are waiting for an asset to reach the “bottom” before buying; or waiting for the price to reach its “peak” before selling.
Think about it.
When the price of an asset has reached its lowest in a cycle, who would be selling?
When a price has reached its highest, who would be buying?
So if Bitcoin is about to fork, or you’re uncertain as to what to do, the simple answer for the amateur is to safely hold.
Two important words there: Safely and Hold
Watch this short video by Andreas Antonopoulos on How to Secure Your Bitcoin
Meanwhile, for the next week or so I will continue to let the Expert Advisor (robot software) that manages a portion of my crypto currency portfolio continue the excellent job that it has been doing.
Long may it continue!
If you want to learn more about this robot software managing my Bitcoin, go to Earn Bitcoin
Sixteen years ago I wrote on my personal travel blog, “Australia sucks”. Not because I have anything against my colonial cousins, far from it… in fact My First Wife and I spent some considerable time considering whether we might like to spend the rest of our lives there.