Good that should be a lesson to everyone, keep your cryptos off the exchange. Its the whole point to crypto, you control your crypto, not an exchange, not some law breaking bank, not the government...you control it.
More and more people are adopting bitcoin as more and more wallets continue to open it up. Ive told you guys this, Bitcoins price follows its adoption, as adoption goes up the prices follows, it lags behind however it will follow like any other technology that gets mass adopted. You are right though, the investment market is limited, Bitcoin and crypto have not reach early adoption stages, its still very, very small. https://www.blockchain.com/en/charts/my-wallet-n-users
You are right people don't work like that in regards to your first statement, however thats why its going to be a long haul until people do work like that. Bitcoin is a deflating currency, not an inflating one which is going to make it different in regards to people actually spending. We do live in world though where most people don't have any savings and spend their whole paychecks, so while Bitcoin value would go up as more people adopt it, which would be an incentive for people to actually save and hold on, rather than spend, but again most people cannot save money, so that would be a huge change to, obviously that would stagnant economic growth if people didn't spend. I am not denying the deflationary issue may prevent bitcoin from being the global currency, it might shift it to just being a store of wealth, which it wasn't intended to be originally. Bitcoin would be a lot more stable though however if it was mass adopted, which could solve that problem. Know one knows though. You bring up Gold. Bitcoin however can be sent to someone anywhere in the world in seconds, can gold do the same? Do people accept gold as a payment? Bitcoin can, Gold however, is much more complicated and transportation/security of gold is also expensive. Its obviously a store of wealth, Bitcoin can be used as a store of wealth as well. Bitcoin I can secure on a wallet and send it to anyone in the world or pay someone for a service within seconds. Gold is still gold, and gold is still the gold standard, however Bitcoin can do things that gold can't do, and they are both different, and it would be wise to have both. To your last statement, digital or not....ok if we do reach a point where Fiat is digital (there are countries already that are moving away from cash and are going digital payments), do you believe people would rather hold the digital fiat that is an inflating currency on a bank account or the crypto that has finite supply that you hold the keys to and no bank is involved, that is deflating currency? As cyber world continues to develop, banks have been repeatedly targets of successful hacks.....to date, no crypto wallet has been hacked.
Abra exchange is now allowing you to buy stocks/etf's with Bitcoin: https://cointelegraph.com/news/abra-wallet-introduces-bitcoin-investment-option-for-stocks-and-etfs The State of Wyoming passed a bill that recognizes crypto officially as money: https://cryptodaily.co.uk/2019/02/w...ampshire-and-indiana-following-a-similar-path Ohio allows you to pay your taxes in Bitcoin now: https://qz.com/1474124/the-people-of-ohio-can-now-pay-taxes-in-bitcoin/ The foundation and fundamentals of Bitcoin continue to grow.
I thought that they were off the exchange and had their own passwords. However, the guy that was running the exchange kicked the pail and even with their own offline passwords in cold storage these people can't access their money because he took the password to the exchange itself with him. That's the way I understood it, correct me if I'm wrong. I still don't really quite understand it but it just sounds like a huge Ponzi Scheme to me. EDIT & P.S.: I read another article about it and to me the above appears to be the case but I could be wrong.
Ill explain it; the cold wallet that the coins were on, was the cold wallet the owner of the exchange used to store some of the crypto that was from the exchange on. Only a 1/3rd of the coins were on the cold wallet, the rest were on the hot wallet, AKA the exchange where cyrptos were being bought and sold. The people who left their coins on the exchange, made the mistake, YOU DO NOT leave your crypto on exchanges, you leave them on your own personal cold wallet. The owner was 30 years old and died of Chrons disease.....bizarre. The whole purpose of crypto is for you to posses, your money. Not have a bank hold onto it, or some other form of custody (Example would be an ETF where you would buy the Bitcoin ETF, but not actually have hold onto the Bitcoin). Its not a ponzi scheme, because no one is guaranteeing you any sort of returns.
On purchases you still already have to pay taxes, however many likely do not. Taxes on crypto in general are very confusing.
JPMorgan has made its coin that will run on blockchain. https://www.coindesk.com/jpmorgan-moving-its-in-house-crypto-to-real-world-trials-report
This is just for institutional investors to facilitate cross border transactions and real time settlement--not for consumer transactions. At least not yet.
Bitcoin showing the most bullish signs since since the bear market started. $1000 surge over night, breaking through all sorts of resistance levels.
The NASDAQ is testing bitcoin trading, also appearing on TDAmeritrade and ETRADE. Technically speaking the bottom appears to be in, it continues to replicate 2015, actually slightly ahead in the time frame, however another dip should come before the big move up begins. I believe we will see at least $4200 one more time. Also sticking with Tim Drapers prediction, $250,000 by 2022
Bitcoin up 100% from the bottom and remains bullish, despite Bitfinex being investigated by the NY AG over tether, and Binance getting hacked 7,000 Bitcoin. https://bitcoinmagazine.com/articles/binance-hacked-40m-ceo-backpedals-recoup-block-reorganization/
Bitcoin rises to $8k, up 150% from the bottom, its unprecedented rise has happened much sooner than in 2015, definitely expecting a correction, but the bull market toward $100k+ is now on. Also Ebay, Whole Foods, Starbucks, Lowes, Gamestop etc all accepting Bitcoin now. https://i.imgur.com/4M6jCaG.jpg
Yeah, it basically shows that Bitcoin is moving MUCH sooner than it did in 2015. I thought the accumulation period was going to last just as long as it did in 2015, it didnt, but I do think the interest is high again in Bitcoin. I also believe there was A LOT of money sitting around, waiting, and waiting to buy the bottom, so when Bitcoin got that $1000 price spike in April out of nowhere, a lot of people FOMO'd in and its been going on since. Know one really know whats going on TBH though, no one predicted it, and the fact that it went through $6000 so easily which was historically the largest resistance in Bitcoin history, its really been a shock. I would expect at least a dip to $6000 at some point but sometime Bitcoin does what no one expects.
Bitcoin halving officially a year away, the supply created will be cut in half as demand is increasing for Bitcoin.
