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Bitcoin: Additional Suspicious Developments

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Posted by Seeking Alpha

on Wednesday, 27 December 2017 06:40

Screen Shot 2017-12-27 at 6.42.05 AM

Summary

- Tethers are being issued at a pace of 13 billion per year.

- No one knows where the money is, but no one seems to care.

- Bitfinex halted new accounts registrations.

- Bitfinex employee's profile suggests that he or the company is being investigated.

- Tether Limited runs the Bitfinex playbook by imposing redemption minimums, effectively freezing customer funds.

- This idea was discussed in more depth with members of my private investing community, Core Value Portfolio.

In my previous articles, I talked about the surprising correlation between the supply of Tether and the price of Bitcoin. I encourage you to read both of them for some background. In essence, there are good reasons to believe that Tether Limited is issuing Tethers that are not backed by USD as promised in order to purchase Bitcoin through Bitfinex. After examining the flow of Tethers, which originate from Tether Limited and are then subsequently distributed to various other exchange all through Bitfinex, I believe that Tether's correlation to Bitcoin is no simple coincidence.

....continue reading HERE



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Currency

Bitcoin Bubble

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Posted by Bob Hoye & Ross Clark - Institutional Advisors

on Wednesday, 20 December 2017 06:49

 Screen Shot 2017-12-20 at 6.54.47 AMScreen Shot 2017-12-20 at 6.55.32 AM

 

 

 

 

 

 

Bitcoin has been the headline item in recent weeks. Its pace has surpassed the gold and silver run of 1979-80 and the NASDAQ of 1999. But it is not unlike the real high-fliers of the Dotcom mania. A realistic comparison of Bitcoin is best done with Qualcomm of 1999. 

Screen Shot 2017-12-20 at 7.00.11 AM

The key lows in QCOM had been $2.36 in 1998 (42x move to $100), $0.92 in 1994 and $0.40 in 1992 (250x move to $100).

If the next consolidation in Bitcoin holds above $11,000 then we could be looking at a double from the corrective low.



Read more...

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Currency

Martin Armstrong: Bitcoin To Be or Not to Be?

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Posted by Martin Armstrong - Armstrong Economics

on Thursday, 14 December 2017 06:06

BitCoin-1Bitcoin has replaced gold as the hot anti-establishment medium which has been gaining momentum. In light of India canceling their currency, there is a growing position against government currencies. This is certainly part of the entire shift from a Public to a Private Wave on the Economic Confidence Model. The overall confidence in government has been declining significantly on economic and political levels – i.e. the election of Trump, BREXIT, and Merkel collapsing to 32.5%.

In a purely economic sense, Bitcoin is really the medium of exchange in a barter situation. That is what BARTER was all about. It was some object that was recognized as acceptable among a group of traders so it becomes the medium of exchange. The problem with Bitcoin is that it is limited and therefore does not represent a true currency that many expect to compete against the government when there is not enough to go around for everyday use among the people.

....much more HERE

 

....also from Martin:

EU To Restrict Movement of Cash



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Currency

If You Don't Own Any Bitcoin, Read This

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Posted by Chris Martenson

on Wednesday, 13 December 2017 07:25

Wow. Just....wow.

Bitcoin's price has gone 'beyond exponential' this week. As I started working on this article, it shot up 22% -- from $14,000 to $17,000 (hitting an intraday high of over $19,000).

And that's after a mind-blowing upwards rocket ride over the past several months.

I think it's safe to say that the vicious melt-up in price over such a short timeframe has surpassed the expectations of even the starriest-eyed Bitcoin fanboys.

The whole world, especially the 99.99% of us that own zero cryptocurrency, is asking: What happens next? And, What should I do?

Is this insane trajectory going to continue for a lot longer? Do I need to get in now to avoid missing this once-in-lifetime fortune-making opportunity?

Or is this a classic bubble blow-off top? Is this the deadliest time to enter, right before the price implodes?

An Expert's Take

.....continue reading HERE

...also:

Davefairtex, our resident charting expert, notes that his model now shows Bitcoin's level of overvaluation at "nosebleed" levels with a daily RSI of over 98 and the forecaster clearly predicting a reversal:

saupload btc usd forecast day 2



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Currency

Martin Armstrong: Why the Dollar is not Fiat

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Posted by Martin Armstrong - Armstrong Economics

on Tuesday, 12 December 2017 06:41

QUESTION: You have said that coins were still fiat and not tangible hard money. Nobody else has said that. Can you support that statement?

DS

ANSWER: Of course. During the American Colonial period, there was a shortage of silver in particular in Britain. The British imposed restrictions on what coins could be used to pay Americans for anything. That restriction was imposed on silver and gold. Therefore, payment to Americans from Britain was always in copper coins. If Americans wanted to buy something from Britain, it was typically demanded in silver or gold. This was one of the reasons for the American Revolution.

US-Penny-1793-Present

Because of these restrictions, the monetary value of copper coins was twice its actual metal content. All governments produced coins ONLY at a profit, which is called the seignorage........

....continue reading HERE

....also from Martin:

EU Commission v Eurogroup

Most people do not understand that there is the Eurogroup, which is an informal body of finance ministers from the Eurozone member states that are intended to discuss matters relating to their countries’ common responsibilities related to the Euro.  They do not keep any minutes so nothing emerges with respect to policy. There is now a clash building between this Eurogroup and that of the European Commission....

....continue reading HERE



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