============================================
THE ELECTRO-CRYPTO CURRENCIES ARE UNPRECEDENTED.
IT WOULD BE STUPID TO COMPARE IT WITH THE HISTORY OF PAPER CURRENCIES BECAUSE ALL PAPER CURRENCIES OF THE PAST WERE SUBJECT TO EMBARGOES, SANCTIONS, BOYCOTT, PROHIBITION, REGULATIONS, SABOTAGE BY MAFIA GOVERFNMENTS.
ELECTRO-CRYPTOS ARE MERELY RESISTING ALL OUT ATTEMPTS OF SABOTAGE BY THE MOST POWERFUL MAFIA BANKERS.
UP TO NOW, BITCOIN SEEMS TO BE SABOTAGE PROOF.
============================================
Tyler Durden's picture
by Tyler Durden
Dec 7, 2017 11:27 AM
And now the giveback...Bitcoin is down $3000 from its $19,600 highs...but is still up 30% on the day
Bwuahahaha... $19k
After tagging $19,697, Bitcoin prices tumbled to $17,900...
Prices
For those keeping track, this is how long it has taken the cryptocurrency to cross the key psychological levels:
$0000 - $1000: 1789 days
$1000- $2000: 1271 days
$2000- $3000: 23 days
$3000- $4000: 62 days
$4000- $5000: 61 days
$5000- $6000: 8 days
$6000- $7000: 13 days
$7000- $8000: 14 days
$8000- $9000: 9 days
$9000-$10000: 2 days
$10000-$11000: 1 day
$11000-$12000: 6 days
$12000-$13000: 17 hours
$13000-$14000: 4 hours
$14000-$15000: 10 hours
$15000-$16000: 5 hours
$16000-$17000: 2 hours
$17000-$18000: 10 minutes
$18000-$19000: 3 minutes
Coinbase is struggling to keep up...
Coinbase
✔
@coinbase
We are currently experiencing record high traffic. This is resulting in some customers having slow performance or issues logging into their http://Coinbase.com accounts. We are actively working to resolve this as quickly as possible.
2:07 PM - Dec 7, 2017
Coinbase - Buy/Sell Digital Currency
Coinbase is a secure online platform for buying, selling, transferring, and storing digital currency.
coinbase.com
214 214 Replies 236 236 Retweets 490 490 likes
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* * *
Update: $18,000, that is all!
* * *
Update: WTF! $17,000...
We do note that GDAX pricing appears to be at a significant premium to several other exchanges.
* * *
Update: Bitcoin just surpased $16,000... speechless...
* * *
In the last 36 hours, Bitcoin has blasted through $12,000, $13,000, $14,000, and now $15,000 levels in an unprecedented 28% surge...
With a market cap of around $250 billion, Bitcoin is bigger than Proctor & Gamble and approaching the size of Wal-Mart as the 12 biggest 'company' in the S&P 500.
As CoinTelegraqph reports, the price is likely being driven by news of the imminent launch of Bitcoin futures trading. CBOE will be launching their futures market this coming Sunday, December 10, with CME Group following on December 18. Nasdaq plans to launch futures trading in the summer of 2018 and Japan’s Tokyo Financial Exchange is preparing to launch futures trading as well.
Bloomberg has announced that brokerage firms TD Ameritrade and Ally Invest will be offering Bitcoin futures trades to their clients. Even J.P. Morgan Chase may follow suit, despite CEO Jamie Dimon’s infamous views on the digital currency.
GDAX, Coinbase’s digital currency exchange, has been leading the rally all day. The price on GDAX is currently about $500 ahead of other Western Bitcoin exchanges. The likeliest - and most bullish - explanation is that Coinbase is the easiest way for new Bitcoin investors to get involved. Consequently, when GDAX leads the charge as it has today, it probably means new “retail” investors are fueling the rally.
Meanwhile, as CoinDesk reports, Ron Paul wants to know: would you take $10,000 in bitcoin, cash or something else?
The former U.S. Congressman from Texas is currently holding a poll on his official Twitter account that asks in which form they would take $10,000 from a "wealthy person". The catch: you can't get rid of it for 10 years.
Paul – who earlier this year called for the U.S. government to "stay out" of bitcoin – put the question to his more than 650,000 followers, asking if they would take $10,000 in the form of bitcoin, dollars, gold or 10-year U.S. Treasury Bonds. The result thus far – one hour remains in the poll at press time – indicate that of the more than 70,000 responses, 54 percent expressed support for bitcoin.
Gold took the second-highest amount with 36 percent, followed by a mere 8 percent for the 10-year bonds. Just 2 percent indicated that they would take the Federal Reserve Notes if offered.
Ron Paul
✔
@RonPaul
A wealthy person wants to gift you $10,000. You get to choose in which form you'll take the gift. But there's a catch: You must keep the gift in the form that you choose, and you can't touch it for 10 years.
In which form would you take the gift?
6:38 PM - Dec 5, 2017
2%Federal Reserve Notes
36%Gold
54%Bitcoin
8%10 Year US Treasury Bond
70,513 votes • Final results
1,007 1,007 Replies 3,800 3,800 Retweets 3,737 3,737 likes
Twitter Ads info and privacy
Speaking with TheStreet in October, Paul conceded that he's no expert on cryptocurrencies (back in 2014, he argued that bitcoin wasn't "true money"). That said, he voiced his support for cryptocurrency in the most recent interview, arguing that it lends credence to the emergence of alternative currencies against the U.S. dollar.
And while Bitcoin's eye-popping price movements have some observers saying the market is in bubble territory, Naval Ravikant, the co-founder of AngelList, while he's not ruling it out entirely, holds a less alarmist view.
"Money is a bubble that never pops," he said at yesterday's Token Summit II in San Francisco.
He told attendees:
"It's a consensus hallucination."
And speaking to the newfound attention to bitcoin, Ravikant said people are interested in growing the wealth that they have. With most savings accounts returning zero these days – as central banks conduct what Ravikant called their "grand money printing experiment" – the general public is looking for alternative places to store their money and watch it grow.
Bitcoin and other protocols seem to offer that, as even the less-developed cryptocurrencies are showing substantial returns.
"I think people are looking to solve their money problems," he said.
Additionally, Coindesk notes that the former chairman of the U.S. Federal Reserve, Alan Greenspan, has joined the many financial luminaries to recently criticize bitcoin's value.
Speaking to CNBC, Greenspan compared bitcoin to that of an early American form of money called "Continental currency" that came into use in 1775 and had become worthless by 1782. The paper-based legal tender was used at the time of the American Revolution and was not backed by a commodity such as gold.
Noting that bitcoin will likely suffer similar fate, Greenspan said that a "significant share" of Continental currency was still used to create "real goods and services," even though it had no ultimate worth.
He continued:
"Bitcoin is really a fascinating example of how human beings create value, and is not always rational ... It is not a rational currency in that case."
Greenspan's comments come as the value of a bitcoin is soaring beyond most expectations, having gained thousands of dollars in value in the last two days.
And in response to that...
===========================================
Bitcoin Barrels Above $16,000 - Greenspan: "It's Not Rational"
===========================================
FREE CURRENCY+TRADE+BARTER LIKE BEFORE THE KHAZARIAN MAFIA TOOK OVER BY FORCE WITH EMBARGOES, SANCTIONS, REGULATIONS, BOYCOTT OVER GOLD.
THIS IS WHAT THE CRYPTOS CAN ENABLE, REAL FREE TRADE BYPASSING THE ARMED TO THE TEETH MAFIA IN CHARGE.
THIS IS RATIONAL. THE PAPER CURRENCY PONZI FRAUD BY THE APE ARTIFICIAL INTELLIGENCE IS IRRATIONAL.
REAL WORLD, TRUTH IS CONSCIENCE.
PAPER PONZI CURRENCIES ARE ARTIFICIAL INTELLIGENCE BY THE UNCONSCIUSNESS.
===========================================
Tyler Durden's picture
by Tyler Durden
Dec 7, 2017 5:13 AM
265
SHARES
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Update: Bitcoin just surpased $16,000... speechless...
For those keeping track, this is how long it has taken the cryptocurrency to cross the key psychological levels:
$0000 - $1000: 1789 days
$1000- $2000: 1271 days
$2000- $3000: 23 days
$3000- $4000: 62 days
$4000- $5000: 61 days
$5000- $6000: 8 days
$6000- $7000: 13 days
$7000- $8000: 14 days
$8000- $9000: 9 days
$9000-$10000: 2 days
$10000-$11000: 1 day
$11000-$12000: 6 days
$12,000-$13,000: 17 hours
$13,000-$14,000: 4 hours
$14,000-$15,000: 10 hours
$15,000-$16,000: 5 hours
* * *
In the last 36 hours, Bitcoin has blasted through $12,000, $13,000, $14,000, and now $15,000 levels in an unprecedented 28% surge...
With a market cap of around $250 billion, Bitcoin is bigger than Proctor & Gamble and approaching the size of Wal-Mart as the 12 biggest 'company' in the S&P 500.
As CoinTelegraqph reports, the price is likely being driven by news of the imminent launch of Bitcoin futures trading. CBOE will be launching their futures market this coming Sunday, December 10, with CME Group following on December 18. Nasdaq plans to launch futures trading in the summer of 2018 and Japan’s Tokyo Financial Exchange is preparing to launch futures trading as well.
Bloomberg has announced that brokerage firms TD Ameritrade and Ally Invest will be offering Bitcoin futures trades to their clients. Even J.P. Morgan Chase may follow suit, despite CEO Jamie Dimon’s infamous views on the digital currency.
GDAX, Coinbase’s digital currency exchange, has been leading the rally all day. The price on GDAX is currently about $500 ahead of other Western Bitcoin exchanges. The likeliest - and most bullish - explanation is that Coinbase is the easiest way for new Bitcoin investors to get involved. Consequently, when GDAX leads the charge as it has today, it probably means new “retail” investors are fueling the rally.
Meanwhile, as CoinDesk reports, Ron Paul wants to know: would you take $10,000 in bitcoin, cash or something else?
The former U.S. Congressman from Texas is currently holding a poll on his official Twitter account that asks in which form they would take $10,000 from a "wealthy person". The catch: you can't get rid of it for 10 years.
Paul – who earlier this year called for the U.S. government to "stay out" of bitcoin – put the question to his more than 650,000 followers, asking if they would take $10,000 in the form of bitcoin, dollars, gold or 10-year U.S. Treasury Bonds. The result thus far – one hour remains in the poll at press time – indicate that of the more than 70,000 responses, 54 percent expressed support for bitcoin.
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Gold took the second-highest amount with 36 percent, followed by a mere 8 percent for the 10-year bonds. Just 2 percent indicated that they would take the Federal Reserve Notes if offered.
Ron Paul
✔
@RonPaul
A wealthy person wants to gift you $10,000. You get to choose in which form you'll take the gift. But there's a catch: You must keep the gift in the form that you choose, and you can't touch it for 10 years.
In which form would you take the gift?
6:38 PM - Dec 5, 2017
2%Federal Reserve Notes
36%Gold
54%Bitcoin
8%10 Year US Treasury Bond
70,513 votes • Final results
1,004 1,004 Replies 3,770 3,770 Retweets 3,707 3,707 likes
Twitter Ads info and privacy
Speaking with TheStreet in October, Paul conceded that he's no expert on cryptocurrencies (back in 2014, he argued that bitcoin wasn't "true money"). That said, he voiced his support for cryptocurrency in the most recent interview, arguing that it lends credence to the emergence of alternative currencies against the U.S. dollar.
And while Bitcoin's eye-popping price movements have some observers saying the market is in bubble territory, Naval Ravikant, the co-founder of AngelList, while he's not ruling it out entirely, holds a less alarmist view.
"Money is a bubble that never pops," he said at yesterday's Token Summit II in San Francisco.
He told attendees:
"It's a consensus hallucination."
And speaking to the newfound attention to bitcoin, Ravikant said people are interested in growing the wealth that they have. With most savings accounts returning zero these days – as central banks conduct what Ravikant called their "grand money printing experiment" – the general public is looking for alternative places to store their money and watch it grow.
Bitcoin and other protocols seem to offer that, as even the less-developed cryptocurrencies are showing substantial returns.
"I think people are looking to solve their money problems," he said.
Additionally, Coindesk notes that the former chairman of the U.S. Federal Reserve, Alan Greenspan, has joined the many financial luminaries to recently criticize bitcoin's value.
Speaking to CNBC, Greenspan compared bitcoin to that of an early American form of money called "Continental currency" that came into use in 1775 and had become worthless by 1782. The paper-based legal tender was used at the time of the American Revolution and was not backed by a commodity such as gold.
Noting that bitcoin will likely suffer similar fate, Greenspan said that a "significant share" of Continental currency was still used to create "real goods and services," even though it had no ultimate worth.
He continued:
"Bitcoin is really a fascinating example of how human beings create value, and is not always rational ... It is not a rational currency in that case."
Greenspan's comments come as the value of a bitcoin is soaring beyond most expectations, having gained thousands of dollars in value in the last two days.
And in response to that...
===============================================
Banks Issue Last Minute Warning About Risks Of Bitcoin Futures, Ask Regulator For Review
Tyler Durden's picture
by Tyler Durden
Dec 7, 2017 10:10 AM
6
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As we countdown to the launch of bitcoin futures trading on the CBOE (10 December) and CME (18 December), the big banks – via the Futures Industry Association - have suddenly got cold feet about the risks. We don't blame them, somebody's going to get hurt, the only question is who. The banks are worried it could be them. The FIA’s “primary” members include all of the usual suspects like JPM, Goldman, Citi, Bank of America, Morgan Stanley, etc. The risk they are most concerned about relates to clearing houses which, ultimately, they stand behind. The problem, of course, boils down to Bitcoin’s volatility, something we flagged after the CME announced circuit breakers early last month.
Having taken a gamble on bitcoin futures, which are set to begin trading by the end of the year, the CME is now seeking to avoid the consequences of what has emerged as both the cryptocurrency's best and worst selling point: its unprecedented volatility…While the CME already uses daily vol limits on most other markets, including crude, gold and market futures, to temporarily halt trading when price swings get out of control, the CME has never before dealt with something like bitcoin
In June, Bloomberg showed how Bitcoin’s 30-day volatility had risen to 100%, which was comparable (at the time) with one of the most volatile financial instruments they (and we) could probably think of - a three-times levered ETF in junior gold miners.
The CME has proposed three trading limits for Bitcoin futures, 7%, 13% or 20% up or down from the previous day’s closing price. The first two thresholds, for 7% and 13% moves, are “soft” limits, which would trigger a two-minute pause in trading of bitcoin futures. The 20% limit would be a hard stop after which trading would be halted. In the first ten months of Bitcoin trading in 2017, Coindesk calculated there had been 69 days in which Bitcoin moved at least 7%, 11 days in which it moved 13% and two days in which it moved 20%. In fact, we had another 20% intra-day move on 29 November 2017.
As the Financial Times reports, the banks – via the Futures Industry Association – is sending a letter to the CFTC which it will publish today.
The world’s largest banks are pushing back on the introduction of bitcoin futures, raising concerns with US regulators that the financial system is ill-prepared for the launch of the contracts as the value of the volatile cryptocurrency has soared. On Wednesday, the price of bitcoin climbed to a fresh record high of more than $14,000. Institutional investors have been keen to trade the asset but only via a regulated market.
However, the planned launch in the next 10 days of futures contracts by the Chicago exchanges CME Group and CBOE Global Markets, given a green light from the Commodity Futures Trading Commission last week, has prompted a backlash among the major brokers who backstop trading across the industry. The Futures Industry Association, the main futures industry lobby group, plans to send a letter to the CFTC that will be published on Thursday.
We could be forgiven for thinking this is all very “last minute”. The CME announced its launch of Bitcoin futures trading back in October and had been canvassing opinion from market participants, including the banks, for months beforehand. The FT confirms that it was seen a draft of the FIA’s letter in which the latter states that the introduction of Bitcoin futures “did not allow for proper public transparency and input”. This is self-evident, resulting from the launch of futures trading contracts being fast-tracked by all parties after Bitcoin’s price rose parabolically this year. As part of this fast track process, the CME and CBOE adopted a “self-certified regime” for the contracts, meaning that the normal regulatory oversight didn’t take place. As the FT notes, the FIA is belatedly calling for a review.
Using it (self-certified regime) for “these novel products does not align with the potential risks that underlie their trading and should be reviewed”, the draft reads. The CFTC warned last week during its approval process that the emerging cryptocurrency markets were largely unregulated and the agency had “limited statutory authority”. “It is also our understanding that not all risk committees of the relevant exchanges were consulted before the certification to launch these products,” the letter added.
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Getting into the “nitty gritty”, even though the banks have been discussing the specification of the contracts for about six months (according to the CME), as the moment of truth approaches, they’ve “zeroed in” on the fragility of clearing houses. With so much Bitcoin trading occurs on other exchanges and outside the hours of CME/CBOE (even if they trade Sundays), the banks have realised their vulnerability.
Futures brokers are worried they will bear the brunt of the risk associated with bitcoin futures, because the margin that backstops the contract is placed in a clearing house. Clearing houses stand between two parties in a trade, managing the risk to the rest of the market if one side should default. They are mutually funded in part by banks to guard against the failure of their largest members. Several brokers among the top 10 largest providers have privately confirmed to the Financial Times that they will not clear the products immediately.
One clearing broker said that it would be open-minded about cryptocurrencies, as they were US dollar products, but only if they were “properly controlled and regulated”. However he added: “We’d still be on the hook in a worst-case scenario as we are exposed as members of the clearing house.”
Sometimes “old heads” are useful in these circumstances. Speaking on Bloomberg TV, Royal Bank of Scotland Chairman, Howard Davies, said he would advise the CME and CBOE against launching Bitcoin futures.
"I’m not quite sure that they know enough about what the underlying is, about the nature of the supply and demand of the underlying. I think it would be a very risky move for them in reputation terms. This is irrational exuberance. This is a very, very unusual market, that shows we’re not in a normal two- way trading market. Blockchain is much more interesting. The idea of a distributed ledger, which makes transactions and payment systems much cheaper and faster in real time is a good one. Blockchain, I think, has got life in it.”
Thomas Peterrfy, the founder, Chairman and CEO of Interactive Brokers (the one who fronts the company’s slightly irritating TV ads) is one of the “giants” of electronic trading in US financial markets. The FT noted Interactive Brokers' stance.
”Thomas Peterffy, a pioneer of electronic trading and head of Interactive Brokers, has warned that the introduction of bitcoin futures into a clearing house could increase systemic risk. On Wednesday Interactive said its clients would be unable to short the bitcoin futures market because of the extreme volatility of bitcoin.
It looks like the banks have realised Peterffy might be right in limiting trading of Bitcoin futures.
=========================================
Bitcoin Blasts Through $15,000 - "It's A Consensus Hallucination"
=====================================
THE AVATAR, THE INVERTED CHAKRA TRIANGLE AWAKENS AND SPINS LIKE A SPINNING TOP.
SHREDS PAPER CURRENCY LIKE PAPER IN REALITY IS.
=====================================
Tyler Durden's picture
by Tyler Durden
Dec 7, 2017 5:13 AM
60
SHARES
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In the last 36 hours, Bitcoin has blasted through $12,000, $13,000, $14,000, and now $15,000 levels in an unprecedented 28% surge...
For those keeping track, this is how long it has taken the cryptocurrency to cross the key psychological levels:
$0000 - $1000: 1789 days
$1000- $2000: 1271 days
$2000- $3000: 23 days
$3000- $4000: 62 days
$4000- $5000: 61 days
$5000- $6000: 8 days
$6000- $7000: 13 days
$7000- $8000: 14 days
$8000- $9000: 9 days
$9000-$10000: 2 days
$10000-$11000: 1 day
$11000-$12000: 6 days
$12,000-$13,000: 17 hours
$13,000-$14,000: 4 hours
$14,000-$15,000: 10 hours
With a market cap of around $250 billion, Bitcoin is bigger than Proctor & Gamble and approaching the size of Wal-Mart as the 12 biggest 'company' in the S&P 500.
As CoinTelegraqph reports, the price is likely being driven by news of the imminent launch of Bitcoin futures trading. CBOE will be launching their futures market this coming Sunday, December 10, with CME Group following on December 18. Nasdaq plans to launch futures trading in the summer of 2018 and Japan’s Tokyo Financial Exchange is preparing to launch futures trading as well.
Bloomberg has announced that brokerage firms TD Ameritrade and Ally Invest will be offering Bitcoin futures trades to their clients. Even J.P. Morgan Chase may follow suit, despite CEO Jamie Dimon’s infamous views on the digital currency.
GDAX, Coinbase’s digital currency exchange, has been leading the rally all day. The price on GDAX is currently about $500 ahead of other Western Bitcoin exchanges. The likeliest - and most bullish - explanation is that Coinbase is the easiest way for new Bitcoin investors to get involved. Consequently, when GDAX leads the charge as it has today, it probably means new “retail” investors are fueling the rally.
Meanwhile, as CoinDesk reports, Ron Paul wants to know: would you take $10,000 in bitcoin, cash or something else?
The former U.S. Congressman from Texas is currently holding a poll on his official Twitter account that asks in which form they would take $10,000 from a "wealthy person". The catch: you can't get rid of it for 10 years.
Paul – who earlier this year called for the U.S. government to "stay out" of bitcoin – put the question to his more than 650,000 followers, asking if they would take $10,000 in the form of bitcoin, dollars, gold or 10-year U.S. Treasury Bonds. The result thus far – one hour remains in the poll at press time – indicate that of the more than 70,000 responses, 54 percent expressed support for bitcoin.
Gold took the second-highest amount with 36 percent, followed by a mere 8 percent for the 10-year bonds. Just 2 percent indicated that they would take the Federal Reserve Notes if offered.
Ron Paul
✔
@RonPaul
A wealthy person wants to gift you $10,000. You get to choose in which form you'll take the gift. But there's a catch: You must keep the gift in the form that you choose, and you can't touch it for 10 years.
In which form would you take the gift?
6:38 PM - Dec 5, 2017
2%Federal Reserve Notes
36%Gold
54%Bitcoin
8%10 Year US Treasury Bond
70,513 votes • Final results
984 984 Replies 3,713 3,713 Retweets 3,652 3,652 likes
Twitter Ads info and privacy
Speaking with TheStreet in October, Paul conceded that he's no expert on cryptocurrencies (back in 2014, he argued that bitcoin wasn't "true money"). That said, he voiced his support for cryptocurrency in the most recent interview, arguing that it lends credence to the emergence of alternative currencies against the U.S. dollar.
And while Bitcoin's eye-popping price movements have some observers saying the market is in bubble territory, Naval Ravikant, the co-founder of AngelList, while he's not ruling it out entirely, holds a less alarmist view.
"Money is a bubble that never pops," he said at yesterday's Token Summit II in San Francisco.
He told attendees:
"It's a consensus hallucination."
And speaking to the newfound attention to bitcoin, Ravikant said people are interested in growing the wealth that they have. With most savings accounts returning zero these days – as central banks conduct what Ravikant called their "grand money printing experiment" – the general public is looking for alternative places to store their money and watch it grow.
========================================
Largest Crypto-Mining Exchange Confirms It Was Hacked, $62 Million In Bitcoin Stolen
Tyler Durden's picture
by Tyler Durden
Dec 6, 2017 3:38 PM
1.2K
Update: as @MillionsBitcoin points out....
View image on Twitter
View image on Twitter
Bitcoin Millionaire
@MillionsBitcoin
NiceHash wondering where your stolen bitcoins are? Here they are
4736 $btc stolen$usd Value: 62,729,994#bitcoin #BTC #NiceHash #bitcoinmining #Hacked
8:00 PM - Dec 6, 2017
10 10 Replies 108 108 Retweets 129 129 likes
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... the total amount of bitcoins stolen from Nice Hash is 4736, or just over $62 million, and they have ended up at the following address:
* * *
Earlier
As Bitcoin explodes higher on what now appears to be constant demand out of South Korea, there were unconfirmed (at least until recently) reports that Nice Hash, the largest crypto-mining marketplace, has been hacked with over 4,000 bitcoins worth over $50 million stolen.
David Gerard
@davidgerard
NiceHash has suffered a completely unpredictable and unforeshadowed cut and run^W^W^Whack, so much for the home miners and their extensive graphics card collections https://www.reddit.com/r/NiceHash/comments/7hy6tp/looks_like_the_end_of_nicehash_how_much_did_you/ … https://steemit.com/nicehash/@quatar/nicehash-outage …
1:24 PM - Dec 6, 2017
Nicehash outage — Steemit
No one is really talking about it yet. But rumors at around 4am pst on the nicehash discord are stating Nicehash may… by quatar
steemit.com
5 5 Replies 22 22 Retweets 34 34 likes
Twitter Ads info and privacy
Visits to the website over the past 13 hours were greeted with the following maintenance notice.
NiceHash
@NiceHashMining
Dear NiceHash user, our service is currently under maintenance.
We are sorry for the inconvenience and please stay tuned for updates.
Thank you for your understanding.
5:52 AM - Dec 6, 2017
201 201 Replies 62 62 Retweets 177 177 likes
Twitter Ads info and privacy
According to TweakTown, there are some posts by people saying that NiceHash transferred all of the BTC sitting in miners' wallets into a single wallet before NH fully went down.
6 Dec
NiceHash
@NiceHashMining
Dear NiceHash user, our service is currently under maintenance.
We are sorry for the inconvenience and please stay tuned for updates.
Thank you for your understanding.
Bonus Legit
@LegitBonus
Why is my nicehash wallet zero? I checked the transactions on a 3rd party website and my balance was zeroed out.
11:58 AM - Dec 6, 2017
9 9 Replies 6 6 Retweets 1 1 like
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If NiceHash were hacked, then it makes sense that the hacker pushed all of the Bitcoin into a single wallet and then transferred it to their own wallet. There's no way of getting it back if that's the case, and if that is indeed the case, there's no way NiceHash can restore money to miners' wallets. If we're talking about $50 million or more, it's going to hurt, bad.
Earlier, WklTribune reported that they've been in contact with NiceHash CEO Andrej Nabergoj, who said that NiceHash is "assessing the situation and working with the authorities. We'll have a public statement shortly".
And then, moments ago NiceCash confirming there was a security breach:
NiceHash
@NiceHashMining
Here is our official PRESS RELEASE about the security breach!https://www.reddit.com/r/NiceHash/comments/7i0s6o/official_press_release_statement_by_nicehash/ …
6:23 PM - Dec 6, 2017
Official press release statement by NiceHash • r/NiceHash
Unfortunately, there has been a security breach involving NiceHash website. We are currently investigating the nature of the incident and, as a...
reddit.com
515 515 Replies 552 552 Retweets 401 401 likes
Twitter Ads info and privacy
From the release:
Unfortunately, there has been a security breach involving NiceHash website. We are currently investigating the nature of the incident and, as a result, we are stopping all operations for the next 24 hours.
Importantly, our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. We are working to verify the precise number of BTC taken.
Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days. In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency.
We are fully committed to restoring the NiceHash service with the highest security measures at the earliest opportunity.
We would not exist without our devoted buyers and miners all around the globe. We understand that you will have a lot of questions, and we ask for patience and understanding while we investigate the causes and find the appropriate solutions for the future of the service. We will endeavour to update you at regular intervals.
============================================
The Latte Index: Using The Impartial Bean To Value Currencies
==============================================
THE ANCIENT AND SIMPLE SOLUTION TO CURRENCIES: WEIGHTS AND MEASURES.
THERE IS NO INFLATION IN WEIGHTS AND MEASURES. ONLY FOR THE FACT THAT IT IS ANTI-MAFIA.
==============================================
Tyler Durden's picture
by Tyler Durden
Dec 7, 2017 2:45 AM
Like any other market, there are many opinions on what a currency ought to be worth relative to others.
With certain currencies, that spectrum of opinions is fairly narrow. As an example, for the world’s most traded currency – the U.S. dollar – the majority of opinions currently fall in a range from the dollar being 2% to 11% overvalued, according to organizations such as the Council of Foreign Relations, the Bank of International Settlements, the OECD, and the IMF.
For other currencies, the spectrum is much wider. The Swiss franc, which some have called the world’s most perplexing currency, has estimates from those same groups ranging from about 13% undervalued to 21% overvalued.
As VisualCapitalist's Jeff Desjardins notes, such a variance in estimates makes it hard to come up with any conclusive consensus – so in today’s chart, we refer to a more caffeinated and fun measure that also approximates the relative value of currencies.
THE IMPARTIAL BEAN
The “Latte Index”, developed by The Wall Street Journal, uses purchasing-power parity (PPP) – comparing the cost of the same good in different countries – to estimate which currencies are overvalued and undervalued.
In this case, the WSJ tracked down the price of a tall Starbucks latte in dozens of cities around the world. These prices are then converted to U.S. dollars and compared to the benchmark price, which is a tall Starbucks latte in New York City (US$3.45).
Courtesy of: Visual Capitalist
The Latte Index is mostly for fun, but it’s also broadly in line with predictions made by the experts.
For example, the price of a latte in Toronto, Canada works out to US$2.94, which is about 14.8% under the benchmark NYC price. This suggests that relative to the USD, the Canadian dollar is undervalued. Interestingly, estimates from the aforementioned sources (BIS, OECD, CFR, IMF) have the Canadian dollar at being up to 10% undervalued – which puts the Latte Index not too far off.
Given the wild range of estimates that exist for currency values, using the relative cost of a cup of joe might be as good of a proxy as any.
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Bitcoin Explodes Above $14,000 - Korean PM Fears "Serious Pathological Phenomena"
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THE END OF THE MAFIA PAPER WORLD POWER.
PAPER CURRENCIES BEING SHREDDED LIKE PAPER.
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Tyler Durden's picture
by Tyler Durden
Dec 6, 2017 5:54 PM
Well that escalated quickly...
Just a few hours ago, Bitcoin surged above $13,000 and now, on notable volume, it has reached the stunning $14,000 level... up 20% today...
The real surge began at 1715ET...
For those keeping track, this is how long it has taken the cryptocurrency to cross the key psychological levels:
$0000 - $1000: 1789 days
$1000- $2000: 1271 days
$2000- $3000: 23 days
$3000- $4000: 62 days
$4000- $5000: 61 days
$5000- $6000: 8 days
$6000- $7000: 13 days
$7000- $8000: 14 days
$8000- $9000: 9 days
$9000-$10000: 2 days
$10000-$11000: 1 day
$11000-$12000: 6 days
$12,000-$13,000: 17 hours
$13,000-$14,000: 4 hours
As Bitcoin has soared, it appears traders have sold other cyrptocurrencies to chase it as Ether has dropped in sync..
One of the regions in the world with the most active Bitcoin community is South Korea where so many Koreans have embraced bitcoin that the prime minister recently warned that cryptocurrencies might corrupt the nation’s youth.
As Bloomberg reports, while neighboring Japan hosts more transactions by some measures, Korea punches far above its weight: In the 24-hour period through Wednesday evening in Seoul, about 21 percent of the world’s bitcoin trades on fee-charging venues involved the Korean won, according to Coinmarketcap.com. The country accounts for about 1.9 percent of the world economy.
As Korean policy makers grow increasingly worried that the mania has gone too far, the nation could become a focus for bitcoin traders around the world. Korea’s top financial watchdog, which briefly roiled cryptocurrency markets with its ban on initial coin offerings in September, said this week that it has “grave concerns” about overheated speculation and has formed a task force with other government bodies to increase supervision.
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While it’s unclear what measures will emerge from Korea’s cryptocurrency task force, the government seems intent on acting. The tax authority is considering a levy on cryptocurrency trading gains, Yonhap News reported on Tuesday, while Prime Minister Lee Nak-yon warned last month that cryptocurrencies could become gateways to pyramid schemes and other illicit activity if left unchecked.
“If we let things continue, I feel some serious pathological phenomena could occur,” Lee said.
Bitcoin’s stateless status appeals to some Koreans who’ve grown wary of keeping their savings in a country that shares a border with Kim Jong Un’s increasingly belligerent regime in North Korea, according to Kwak Keumjoo, professor of psychology at Seoul National University.
“People want to take comfort in something outside and beyond the country,” Kwak said.
Finally, we note that growth continues as Coinbase CEO today noted they currently have 220 customer service reps and will add 400 next year:
"it's very difficult to keep up with the user influx."
As CoinTelegraph reports, since China, Russia, and a few others cracked down hard on Bitcoin, it has been relatively quiet on the regulations front as Bitcoin has continued to soar unbridled. However, the head scratching on how to regulate continues.
The next fear, for Former Fortress Hedge Fund Manager Michael Novogratz, is that Bitcoin’s continued rise and prominence in the mainstream media could reawaken the regulation beast.
However, Novogratz still feels that Bitcoin is difficult to regulate and it will be hard for governments to make an impact immediately. Novogratz, who has been outspoken on Bitcoin for some time now, claiming it could be a bubble, but one to profit from has his concerns now.
"I've got concerns that if price movements go higher, we're going to get more regulation," Novogratz said.
“But I think it's hard to shut down. ... I don't think that's a probability."
"One of the big risks out there right now is that prices are moving so fast that regulators are going to get nervous," he added.
"I could legitimately see Bitcoin go $13,000, $14,000, $20,000, $25,000 and see somebody balk."
Novogratz adds:
"We're in a speculative frenzy. Period. Stop. How long can it go? Who knows," Novogratz said. "What's interesting about this is it's global."
Another reason that Bitcoin has hit such heights must also be attributed to it finding its identity. Many were scratching their heads as to what Bitcoin is - a currency or an asset - but recent changes have set it straight.
"Bitcoin is winning out as digital gold," Novogratz explained.
"I don't think it's going to be a currency... Nothing that volatile is going to be a currency."
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North Korean "Ghost Ship" Arrivals In Japan Surge
Tyler Durden's picture
by Tyler Durden
Dec 6, 2017 11:35 PM
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Large numbers of North Korean fishing boats are washing up along the Japanese coast, some of which have contained decaying corpses.
Winds and water currents push dozens of boats onto Japan's northern coasts annually. Rickety North Korean fishing boats are particularly vulnerable because they lack the sturdiness and equipment to return home.
But the alarming pace over the past few weeks has prompted Japanese authorities to step up patrols.
In November of this year alone, 28 of the so-called "ghost ships" were discovered by Japanese authorities with 42 people who claim to be fishermen found alive.
18 bodies have also been recovered so far.
As Statista's Niall McCarthy notes, the grim discoveries suggest that the situation in North Korea is becoming desperate with sanctions and food shortages likely driving fishermen further out to sea to secure bigger catches.
Infographic: North Korean
You will find more statistics at Statista
So far this year, 64 "ghost ships" have washed up along the Japanese coast and last year, the number was 66. 2013 was a particularly bad year with 80 vessels discovered by Japanese authorities.
Compartilhada originalmente por H George Tavakoli - 1 comentário
he REAL reason we go further into debt each year is not just incompetence in DC, but because there's not enough federal income to both run a country AND to give those lobbying Congress EVERYTHING they want.
And, be assured, those lobbying Congress will always be the priority, being that they fund campaigns; line Congress members' pockets; employ Congress members' families; and offer Congress members 7-digit salaries to be become lobbyists when they finally, after decades, leave Congress..
The only way Congress will represent the people is when Congress is no longer a career!
With the second option of Article 5, we can impose term limits on Congress and there's nothing they can do to stop us!
Get involved! Sign the petition on the website! Volunteer to help!
www.termlimitsforuscongress.com
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