Bitcoins would let you transact using an electronic system,
But it could make sense for governments to dump cash and relay on only Digital currency.
Bitcoin Forum
Re: Bitcoin becoming centrally planned: Communist
Wednesday, April 27, 2016
Re: Bitcoin becoming centrally planned: Communist
Re: Bitcoin becoming centrally planned: Communist
Re: What would be the price?
Bitcoin Barcamp
Image by Halans
At that time the stability will be attained by bitcoin and no matter how much will be the price everyone will love it as everyone want to see stability in its price, with that people will have believe on it and so they will not fear to put their money …
Bitcoin Forum
Re: What would be the price?
BoE sees Brexit risks to prices and growth
Carney warns MPs on the likely effects of a 10% drop in sterling
UK News
BoE sees Brexit risks to prices and growth
Re: Bitcoin go to $500
Bitcoin Barcamp
Image by Halans
Quote from: Nameless Coin on April 25, 2016, 06:43:28 PM
Quote from: sadasa on April 25, 2016, 06:00:25 PM
Quote from: romero121 on April 25, 2016, 04:59:52 PM
…
Re: Bitcoin go to $500
German magazine pulls reporter from Turkey ahead of EU summit
BERLIN, March 17 (Reuters) – German magazine Der Spiegel has pulled its Istanbul-based reporter from Turkey out of concern that he is no longer welcome in the country, an embarrassment for Chancellor Angela Merkel as she pushes for an EU cooperation deal with Ankara on refugees.
German magazine pulls reporter from Turkey ahead of EU summit
Virgin speeds up fast broadband rollout
Liberty Global business aims to provide fibre direct to 1m doors
Telecoms
Virgin speeds up fast broadband rollout
Bitcoin Price Inches Towards $470, Will $500 be Next?
Bitcoin has done it again. Since the time of our last price watch piece, the bitcoin price has risen by a whopping $ 11, hitting a four-month high of about $ 468 at press time.
Also read: Bitcoin Price Moves Forward; $ 457 and Rising
Bitcoin Price Continues To Rise
If this isn’t reason enough for bitcoin haters to lose their fear and mistrust after 2015, then it’s plausible to think that there will always be doubters living freely among us. It’s true: you probably can’t convince everyone. After all, Bitcoin underwent quite a roller coaster ride last year, hitting a severe low point and remaining relatively still for quite a period.
But with each new price jump, we can likely expect bitcoin’s present crowd of believers to increase. Six months have passed since bitcoin began showing signs of life again in November, and things don’t seem to be slowing down. The main question now is, “Will Bitcoin soon reach $ 500?” The answer seems fairly certain, granted bitcoin does indeed continue on its current merry path.
Despite the fantastic rise, however, bitcoin enthusiasts seem to be split down the middle, not only in their beliefs, but about what should be done with bitcoin in the future. Where does digital currency stand? What can be done with it? How does digital currency meet mass potential without putting others at risk? There’s a lot of questions that many are still pondering, and the answers aren’t always black and white. So what does one do?
The first group of bitcoin lovers, known simply as Bitcoin Core, seem content with the way things are, and prefer thing stay the same for some time. Their primary goals involve keeping the block size as is and changing the way signatures are stored on the blockchain. The other group, trying to take bitcoin’s expansion in a different direction, would like to see the acceptance and adoption of an alternative blockchain. This new blockchain would be incompatible with the original, and would increase the block size to 2 MB. The group ultimately believes that such a move would give bitcoin a whole new set of users, and adoption would be at an all-time high.
Regardless of which route is taken, both methods present advantages that are sure to add to the value of bitcoin, and preserve its status as the world’s strongest and most volatile digital currency. As a result, one could say a rise to $ 500 and beyond would not be unlikely. The strength behind bitcoin has undoubtedly been proven, and the safety of the blockchain is earning more notice and respect every day. With all his in mind, we can expect bitcoin to not only reach another high in a short period but indeed, have a very severe impact on the growth that occurs in our ever-changing financial structure.
Do you believe the $ 500 mark will be hit soon? Post your thoughts below!
Images courtesy of Desktop-Wallpapers.net, Shutterstock.
The post Bitcoin Price Inches Towards $ 470, Will $ 500 be Next? appeared first on Bitcoinist.net.
Bitcoin Price Inches Towards $470, Will $500 be Next?
Comcast in bid for DreamWorks Animation
Deal worth $ 3bn would bring cartoon hitmaker under same roof as Universal Pictures
Media
Comcast in bid for DreamWorks Animation
Boeing's profit hit by tanker charge
(Reuters) – Boeing Co reported a nearly 9 percent fall in quarterly profit, hurt by an after-tax charge related to the KC-46 aerial refueling tanker it is developing for the U.S. Air Force.
Boeing's profit hit by tanker charge
Re: Litecoin is starting to trek upwards
Road to Bitcoin mania
Image by The Real Asset Co.
How did we get to Bitcoin mania? Use our stunning infographic to learn the story of Bitcoin and where the digital currency is headed.
At this tme I am not going to invest in any other currency but only in bitcoin and I think everyone is doing the same that is why the price of other coins are not increasing that much faster as bitcoin is, but I have a plan to invest in other coins aft…
Bitcoin Forum
Re: Litecoin is starting to trek upwards
Re: BTC up eth down jump ship while you can
Quote from: K210 on March 08, 2016, 08:10:16 AM
Eth is down to $ 8 from $ 11 jump ship to bitcoin while you can. Pump is over dump has begun, anyone left in ether is asking to have their money burned.
yeah bitcoin…
Bitcoin Forum
Re: BTC up eth down jump ship while you can
Miners and banks drag down Britain's FTSE
LONDON, April 27 (Reuters) – Britain’s top share index resumed its recent downtrend on Wednesday, with miners coming under pressure on weaker metals prices and Standard Chartered leading the banking…
Miners and banks drag down Britain's FTSE
Re: Do you still believe in bitcoin
Quote from: avw1982 on April 23, 2016, 07:27:48 PM
Quote from: evergrow on April 23, 2016, 06:33:31 PM
Yes I still believe in the idea Bitcoin brought to life!
I basically believe i…
Re: Do you still believe in bitcoin
Stellar Offers Lumens to Bitcoin Holders, Except in Countries on US Sanctions List
Decentralized financial system, Stellar, invites the members of the Bitcoin community to claim their cryptocurrency, Lumens.]]>
CoinTelegraph.Com News
Stellar Offers Lumens to Bitcoin Holders, Except in Countries on US Sanctions List
Re: Japan Officially Recognizes Bitcoin and Digital Currencies as Money
Bitcoin Barcamp
Image by Halans
It is exciting to know that bitcoin is gaining its due recognition.Hope after Japan other countries will follow the suit although unless any country explicitly declare bitcoin illegal,I dont think it is going to make any difference if governments appro…
Bitcoin Forum
Re: Japan Officially Recognizes Bitcoin and Digital Currencies as Money
Re: Bitcoin without Altcoin ?
IFC 2…and the bus station in 民耀街
Image by antwerpenR
民耀街 – Man Yiu Street
If you enjoy my photos, you are welcome to #donate #bitcoin to me at: 1Q2LV3bsxZjRBQoRXAXikpUGPCrNeGSUWc
Quote from: Decoded on April 03, 2016, 08:16:53 PM
Altcoins really don't have a direct connection to bitcoin, and the price has no correlation. I'd say altcoins make no impact on bitcoin.
yes you may right,altcoi…
Bitcoin Forum
Re: Bitcoin without Altcoin ?
Tuesday, April 26, 2016
UPDATE 1-UK Stocks-Factors to watch on April 27
April 27 (Reuters) – Britain’s FTSE 100 index is seen opening down 1 point, unchanged in percentage terms, on Wednesday, according to financial bookmakers, with futures down 0.31 percent ahead of the cash market open. For more on the factors affecting European stocks, please click on
UPDATE 1-UK Stocks-Factors to watch on April 27
Re: Why Banks Hates Bitcoin?
I don't think that banks really hate bitcoin, I think bitcoin is better than banks as you are in full control of your money if you know how to correctly protect them, but regarding the blockchain technology in the near term we should see some big banks…
Bitcoin Forum
Re: Why Banks Hates Bitcoin?
Egyptian satire and slim propaganda text
The country is more repressive than during the rule of Mubarak
Comment
Egyptian satire and slim propaganda text
Re: Signature campaigns and bitcoin price
Simple math, Campaign will pay out about $ 3-$ 5. if Bitcoin worth $ 10000, then each week a person will get about 0.0003btc, that is for about 10-15 posts, so each post will worth about 0.00003 btc.
This is my estimation.
Bitcoin Forum
Re: Signature campaigns and bitcoin price
Re: Bitcoin halving Fever. Nagiipon na din b kau ngaun ng btc sa wallet nyo??
Quote from: grim007 on Today at 03:21:24 AM
mark your calendar on july 2016.. stop investing na ako ngaun and deposit nlng lage ng btc. hehehe
para saan yung halving sir ?
Bitcoin Forum
Re: Bitcoin halving Fever. Nagiipon na din b kau ngaun ng btc sa wallet nyo??
Tattoo artists compete for top awards at international festival
SOCHI, Russia – For more than 60 artists from Russia, Belarus and London it was an opportunity to showcase their skills but for ink enthusiasts the Sochi International Tattoo Festival was all about…
Tattoo artists compete for top awards at international festival
Photo exhibit in Geneva raises new tensions with Turkey
Geneva’s Place des Nations has become ground zero in the latest freedom of expression battle between Turkey and the West. And, as Nathan Frandino reports, the Swiss government is not bending to pressure from Turkey.
Photo exhibit in Geneva raises new tensions with Turkey
Re: How many Bitcoin do you have saved?
Bitcoin Barcamp
Image by Halans
A little amount only because i use it for my daily need like foods, load and anything that i need.
But if i have savings i would like to buy as many as i can .
Bitcoin Forum
Re: How many Bitcoin do you have saved?
Re: Bitcoin replaces the money? Could happen?
Quote
I also do not think that the bitcoin is gonna rise to a major currency to be honest, I think that the bitcoin will at the end die.
Because of banks that makes something similar like the bitcoin.
Because of banks that makes something similar like the bitcoin.
This is what I was thinking before. Sooner…
Bitcoin Forum
Re: Bitcoin replaces the money? Could happen?
Re: The $1 Million Dollar Bitcoin
Bitcoin Barcamp
Image by Halans
Quote from: phreaky on Today at 01:18:56 PM
There is no one million Dollar Bitcoin and I believe that it will never happen and especially not with in 10 years. It is just way to soon for something like that to hap…
Re: The $1 Million Dollar Bitcoin
Jim Chanos, bad news bear, urges market prudence
Prominent short-seller Jim Chanos is probably one of the last true “bad news bears” you will find on Wall Street these days, save for Jim Grant and Nouriel Roubini. Almost everywhere you turn, money managers still are bullish on U.S. equities going into 2014 even after the Standard & Poor’s 500’s 27 percent returns year-to-date and the Nasdaq is back to levels not seen since the height of the dot-com bubble in 1999.
“We’re back to a glass half-full environment as opposed to a glass half-empty environment,” Chanos told Reuters during a wide ranging hour-long discussion two weeks ago. “If you’re the typical investor, it’s probably time to be a little bit more cautious.”
Chanos, president and founder of Kynikos Associates, admittedly knows it has been a humbling year for his cohort, with some short only funds even closing up shop.
But he told Reuters that the market is primed for short-sellers like him and as a result has gone out to raise capital for his mission: “Markets mean-revert and performance mean-reverts and even alpha mean-reverts if at least my last 30 years are any indication. And the time to be doing this is when you feel like the village idiot and not an evil genius, to paraphrase my critics.”
Chanos’ bearish views are so well respected that the New York Federal Reserve has even included him as one of the money managers on its investment advisory counsel. By his own admission, Chanos said he tends to be the one most skeptical on the markets.
Chanos knows bad news when he sees it as he is known as the man who almost single handedly vindicated short sellers by revealing the ongoing fraud at Enron and WorldCom. And he sounded the alarm bell early on struggling computer giant Hewlett Packard. Just last week, he sent shares of CGI Group Inc., the parent of CGI Federal, which is the main contractor behind the U.S. government’s glitch-plagued HealthCare.gov website, under selling pressure after Newsweek revealed that Chanos had placed a major short position.
Chanos spoke about his other shorts including Caterpillar and – yes, just in time for Christmas — coal stocks at the Reuters Global Investment Outlook Summit and even shared some of his observations on the 1 percent and what they owe the rest of us.
On the U.S. stock market
Chanos: “A few years back, I felt the U.S. was the best house in a bad neighborhood for a cliché hackneyed term and certainly there were better places that I think on a macro basis to be short like China. Our thinking is changed on that now. I think that the U.S. market is pretty fully discounting an awful lot of good news. While one can never be precise on markets and that’s not why my clients pay me, we’re finding many more opportunities (on the short side) in the U.S markets than we found a few years ago. The U.S. market at roughly 1,800 on the S&P is trading at 19 times earnings. I am always sort of befuddled because people use a much lower figure on that…we went back and triple-checked trailing 12-month S&P 500 earnings and they are only $ 95. A lot of companies report earnings before the bad stuff and we’re talking about GAAP earnings – actually talking about real accounting earnings – they are only $ 95. So for you to believe that the market is only at 14 times, 15 times next year’s number, you have to make some pretty robust assumptions on earnings growth to get to $ 95 to that $ 120 or $ 125 figure.”
Déjà vu all over again
Chanos: “I recall pretty vividly in 2007 at the top people were saying that ‘Well, the markets weren’t that expensive.’ And yet, we had a little bit of a dislocation following that. Of course, everybody will say, ‘Yeah but the markets could go to whatever…because it did in 2000.’ If you want to use as your benchmark, a once-in-a-lifetime, mainly the Nasdaq as your guidepost what is cheap or not, Good luck. We’re at the same kinds of levels we’ve been at in ’07 and in other periods where the markets had some difficulty. Having said that, the Fed is going to stay easy for a long time, so they tell you, so people are taking that as a given. But there are other some other signposts that are a lot different from four years ago.
Back then, you saw very little (stock) issuance, now issuance is picking up very, very quickly. We see three-four-five spot secondaries every night beyond the IPO market. You’re seeing hedge funds scrap the short side – and in some cases, bring out long-only funds. That was a hallmark of 2007 as well. In 2009, everybody wanted tail risk protection. I haven’t heard about tail risk protection in probably 18 months. We’re back to a glass half-full environment as opposed to a glass half-empty environment. If you’re the typical investor, it’s probably time to be a little bit more cautious. It doesn’t mean the market can’t go a lot higher. And as I say, we’re pretty much in our short-only business always defacto hedged but the risks are getting out there. And even in some stocks we’re you’re beginning to see research reports now stretched out and tell you the stock is reasonably priced based on 2020 estimates, most people can’t really forecast much beyond a few months — and we’re seeing more and more of those kinds of reports where stocks are justified based on some enormous growth way, way out into the future. And to some extent Fed policy fosters that because of the low interest rates people feel that they can be confident in predicting out reasonably high multiples with no hiccups going out in the future.”
You love art, so what do you make of the surge in Sotheby’s shares?
Chanos: “At Sotheby’s basically it goes from 10 to 50 seemingly in every cycle since the late 80s. There are some reasons for that — contemporary art is what I call ‘socially acceptable conspicuous consumption.’ So in any case, but it’s sort of an interesting point that every time we seem to see some sort of excess somewhere in the marketplace, Sotheby’s runs to 50 and then collapses to 10 and then runs right back to 50 and collapses to 10. It’s done that four times since the late 80s. And now we’ve seen the latest ramp to 50. And who knows.
Again, it’s more to me an indicator of what the 1% is doing than anything else.”
Are we in a hedge fund bubble?
Chanos: “I think hedge fund fees are probably still in a bubble although I would point out that the reality is that the days of 2-20 are kind of well behind us and even a lot of shops that charge that effectively make a lot less.
Also, the investors have gotten a lot more sophisticated. Ten years ago, if you were dealing with a pension fund you really dealt with a consultant, by and large. And they were the gate keepers and if they liked you, then you get put on a list. Nowadays you really deal directly with the clients. They all have staff that are pretty sophisticated.”
Are you raising money now for your funds?
Chanos: “We think now is a good time to do it. Now I think is not a bad time to be raising capital for what we do. When we got a rough going in the mid-90s, that was exactly the time to raise capital. It is counterintuitive and a lot of hedge funds don’t do it. But markets mean-revert and performance mean-reverts and even alpha mean-reverts in at least my last 30 years are any indication and the time to be doing this is when you feel like the village idiot and not an evil genius, to paraphrase my critics. And I think that’s the time as I say when everybody wanted tail risk insurance back in ‘09, we were pushing our hedge fund more than our short fund. And now I think the short fund actually makes more sense for institutional investors.
At this point I think it is prudent for people to think about hedging off some of their market exposure and that is exactly when they don’t wanna do it.”
On Caterpillar
Chanos: “One of our views is that we think the commodity super cycle has peaked. But the problem in saying that is that most analysts and investors have a very short time frame in looking at that. We took a look at the publicly-traded mining companies with one of our brokers and we went back and looked at all of their capital spending going back to the early 90s in the mining area and capital spending in the mining area is roughly 50% equipment and 50% the cost of digging the hole. And it’s pretty amazing what you see, that from 1991-2001, basically capital spending in the entire mining industry went from $ 5 billion a year to $ 15 billion a year. That’s about an 8-9% compounded growth rate. And then, the China boom came and then from ’01 to 2012, annual capital spending in the mining industry went from $ 15 billion a year to $ 145 billion a year! Which is a 24% compounded rate of return. It went from an arithmetic function to a geometric function in the post-millennium and it’s come off a little bit from that peak now. When you understand just what a massive boom we have had in digging holes in the ground globally to fill this voracious demand in China in building these cities and people say, ‘Oh, well, Caterpillar in the down cycle earned 4-5-6 bucks. Caterpillar used to lose money in the down cycles and that’s when it was basically only a duopoly in 80s and early 90s. Now, you have five, six or seven players in that market and all basically working on the assumption that the hockey stick chart is sort of the new normal and if we ever revert to the mean because China stops building one new city seemingly every every weekend, I think that a lot of equipment guys got has a lot of extra capacity and returns are going to be a lot lower than investors think. That’s the basic thesis.”
On Coal
Chanos: “We’re very bearish on coal for a variety of reasons. I think it’s the flipside of the shale gas boom in the U.S. But you’re even beginning to see some movement shockingly in China to cut back on burning coal because, let’s face it, the pollution issue there…I think that it’s still cheaper in the European markets and Asian markets to burn coal than natural gas but that’s because natural gas is $ 10-12 and $ 14-16 in Asia. There’s more and more coal being mined similar to this boom, so the supply keeps coming. In the U.S., there’s additional issues and that is, the EPA is on the case here pretty diligently — on top of the real substitution effect that natural gas has. We’re pretty much short all the leveraged coal companies with one exception, which is one of our hedges. But you can assume pretty much that we are short all of the leveraged coal companies. If you look at the numbers in the coal companies, these are companies, really, some of them in financial distress or about to be.”
Bill Gross, manager of the world’s largest bond fund, urged fellow members of the “privileged 1 percent,” earning the highest incomes, to support higher U.S. taxes on carried interest and capital gains to help the economy. (Carried interest refers to a large portion of the investment gains realized by private equity managers and executives at some venture capital firms, real estate and hedge funds.)
Your thoughts on carried interest & the 1 percent
Chanos: “I think it will ultimately go away. At some point, it’s going to be raised. I don’t know when. I’m shocked it’s lasted this long. But at the end of the day, it seems to me that the concept of – and make no mistake about it, we’ve been very public on this – that carried interest is fee income — no ifs, ands or buts about it. It is fee income. If I run money in a partnership, and I run money in a managed account, and I run the pari passu which I do, and one of them reallocates the profit partnership at the end of the year based on performance, the other actually pays me a fee based on the same exact performance, you’re telling me that one is capital gains and the other is income? It’s ridiculous. The fact that this loophole has stayed open for this long tells you a lot about the process in Washington and it does about economics.”
Jim Chanos, bad news bear, urges market prudence
GUEST BLOG: Edge over the markets and do you have it?
This is a guest post from author and former hedge fund manager Lars Kroijer. The piece reflects his own opinion and is not endorsed by Reuters. The views expressed do not constitute research, investment advice or trade recommendations.
Most literature or media on finance today tells us how to make money. We are bombarded with stock tips about the next Apple or Google, read articles on how India or biotech investing are the next hot thing, or told how some star investment manager’s outstanding performance is set to continue. The implicit message is that only the uninformed few fail to heed this advice and those that do end up poorer as a result. We wouldn’t want that to be us!
What if we started with a very different premise? The premise that markets are actually quite efficient. Even if some people are able to outperform the markets, most people are not among them. In financial jargon, most people do not have edge over the financial markets, which is to say that they can’t perform better than the financial market through active selection of investments different from that made by the market. Embracing and understanding this absence of edge as an investor is something I believe is critical for all investors to understand.
Consider these two investments portfolios:
A) S&P500 Index Tracker Portfolio like an ETF or index fund
B) A portfolio consisting of a number of stocks from the S&P 500 – any number of stocks from that index that you think will outperform the index. It could be one stock or 499 stocks, or anything in between, or even the 500 stocks weighted differently from the index (which is based on market value weighting).
If you can ensure the consistent outperformance of portfolio B over portfolio A, even after the higher fees and expenses associated with creating portfolio B, you have edge investing in the S&P 500. If you can’t, you don’t have edge.
At first glance it may seem easy to have edge in the S&P500. All you have to do is pick a subset of 500 stocks that will do better than the rest, and surely there are a number of predictable duds in there. In fact, all you would have to do is to find one dud, omit that from the rest and you would already be ahead. How hard can that be? Similarly, all you would have to do is to pick one winner and you would also be ahead.
Although the examples in this piece are from the stock market, investors can have edge in virtually any kind of investment all over the world. In fact there are so many different ways to have edge that it may seem like an admission of ignorance to some to renounce all of them. Their gut instinct may tell them that not only do they want to have edge, but the idea of not even trying to gain it is a cheap surrender. They want to take on the markets and outperform as a vindication that they “get it” or are somehow of a superior intellect or street-smart. Whatever works!
The Competition
When considering your edge who is it exactly that you have edge over? The other market participants obviously, but instead of a faceless mass, think about whom they actually are and what knowledge they have and analysis they undertake.
Imagine the portfolio manager – let’s call her Susan – of the technology-focused fund for a highly rated mutual fund/unit trust who like us is looking at Microsoft.
Susan and and her firm have easy access to all the research that is written about Microsoft including the 80 page in-depth reports from research analysts from all the major banks including places like Morgan Stanley or Goldman Sachs that have followed Microsoft and all its competitors since Bill Gates started the business. The analysts know all of the business lines of Microsoft, down to the programmers who write the code to the marketing groups that come up with the great ads. They may have worked at Microsoft or its competitors, and perhaps went to Harvard or Stanford with senior members of the management team. On top of that, the analysts speak frequently with the trading groups of their banks who are among the market leaders in the trading of the Microsoft shares and can see market moves faster and more accurately than almost any trader.
All research analysts will talk to Susan regularly and at great length because of the commissions her firm’s trading generates. Microsoft is a big position for her fund and Susan reads all the reports thoroughly – it’s important to know what the market thinks. Susan enjoys the technical product development aspects of Microsoft and she feels she talks the same language as techies, partly because she knew some of them from when she studied computer science at MIT. But Susan’s somewhat “nerdy” demeanour is balanced out by her “gut feel” colleague, who see bigger picture trends in the technology sector and specifically sees how Microsoft is perceived in the market and ability to respond to a changing business environment.
Susan and her colleagues frequently go to IT conferences and have meetings with senior people from Microsoft and peer companies, and are on first name basis with most of them. Microsoft also arranged for her firm to visit the senior management at offices around the world, both in sales roles and developers, and Susan also talk to some of the leading clients.
Like the research analysts from the banks, Susan’s firm has an army of expert PhD’s who study sales trends and spot new potential challenges (they were among the first to spot Facebook and Google). Further, her firm has economists who study the US and global financial system in detail as the world economy will impact the performance of Microsoft. Her firm also has mathematicians with trading pattern recognition technology to help with the analysis.
Susan loves reading books about technology and every finance/investing book she can get her hands on, including all the Buffett and value investor books.
Susan and her team know everything there is to know about the stocks she follows (including a few things she probably shouldn’t know, but she keeps that close to her chest), some of which are much smaller and less well researched than Microsoft. She has among the best ratings among fund managers in a couple of the comparison sites, but doesn’t pay too much attention to that. After doing this for over twenty years she knows how quickly things can change and instead focuses on remaining at the top of her game.
Does Susan have edge?
Do you think you have edge over Susan and the thousands of people like her? If you do, you might be brilliant, arrogant, the next Warren Buffett or George Soros, be lucky, or all of the above. If you don’t, you don’t have edge. Most people don’t. Most people are better off admitting to themselves that once a company is listed on an exchange and has a market price, then we are better off assuming that this is a price that reflects the stock’s true value, incorporating a future positive return for the stock, but also a risk that things don’t go do plan. So it’s not that all publicly listed companies are good – far from it – but rather that we don’t know better than to assume that their stock prices incorporate an expectation of a fair future return to the shareholders given the risks. We don’t have edge.
When I ran my hedge fund I would always think about the fictitious Susan and her fund. I would think of someone super clever, well connected, product savvy yet street-smart who had been around the block and seen the inside stories of success and failure. And then I would convince myself that we should not be involved in trades unless we clearly thought we had edge over them. It is hard to convince yourself that this is possible, and unfortunately even harder sometimes for it to actually be true.
Investing without edge
For someone to accept that they don’t have edge is a key “aha” moment in their investing lives, and perhaps without knowing it at first, they will be much better off as a result. At this point you are hopefully at least considering a couple of things:
1. Edge is hard to achieve and it is important to be realistic about if you have it.
2. Conceding edge is a sensible and very liberating conclusion for most investors. It makes life lot easier (and wealthier) to acknowledge that you can’t better the aggregate knowledge of a market swamped with thousands of experts that study Microsoft and the wider markets.
Once you have conceded edge you are unfortunately not done. In fact you have only arrived at the starting point and started your journey as an investor who has conceded edge. There is every change that you will be a far wealthier investor as a result of this.
For the edgeless investor it makes sense to pick the most diversified and cheapest portfolio of world equities and combining that with some government and potentially corporate bonds through cheap index tracking products that suit your risk and tax profile. Do this while considering your non-investment assets/liabilities, time horizon of investment, and a few other things, and you are doing extremely well. Once you embrace that you don’t have edge it is fortunately pretty intuitive and really not that difficult to put together a simple and powerful investment portfolio. More on that in the next blog!
Lars Kroijer is the author of “Investing Demystified – How to Invest Without Speculation and Sleepless Nights” from Financial Times Publishing. He founded hedge fund Holte Capital, where he was CEO, in 2002. You can follow him on @larskroijer.
GUEST BLOG: Edge over the markets and do you have it?
EB128 - Jed Mccaleb: Stellar And The Vision Of An Open Financial System
When Jed McCaleb discovered Bitcoin, there didn’t even exist an online marketplace to trade the cryptocurrency yet. The experienced founder who had earlier started file sharing site eDonkey, acted fast and started the first Bitcoin exchange MtGox which he later sold to now-infamous Mark Karpeles. Jed later founded the pioneering Ripple project before leaving to start Stellar.
We discussed his journey through the industry and the ambitious plans Stellar has to create an open financial system that will give access to financial services to a much broader spectrum of humanity.
Topics covered included:
- Jed’s early involvement in the industry and founding of MtGox and subsequently Ripple
- Why Jed left Ripple and started Stellar
- How Ripple and Stellar differ
- The Stellar Consensus Protocol
- Why the organization behind Stellar is a non-profit foundation
- Stellar’s focus on developing markets and Nigeria in particular
- The role and distribution of Stellar’s currency Lumen
Links mentioned in this episode:
- Stellar Website
- Stellar Consensus Protocol
- Bitcoin-Lumen Giveaway
- Stellar Graphic Novel
- Digital Gold by Nathaniel Popper
Sponsors:
- Ledger Nano: Smart card security for your Bitcoins – Get 10% off your first order when you use the code EPICENTER at ledgerwallet.com.
Show notes
YouTube
SoundCloud
Epicenter Bitcoin is hosted by Brian Fabian Crain, S?ƒbastien Couture & Meher Roy.
- Visit our website
- Subscribe to our newsletter
The Let’s Talk Bitcoin Network
EB128 - Jed Mccaleb: Stellar And The Vision Of An Open Financial System
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Quote from: JayJuanGee on Today at 09:26:11 PM
Quote from: rafanadal on Today at 09:20:54 PM
Seriously guys , what's with all the celebration 
, even if btc doubles or triple…
, even if btc doubles or triple…Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
1965 Men's & Women's Fashion Ad, Baracuta Rainwear, Playboy Advert
Some bitcoin playboy images:
1965 Men’s & Women’s Fashion Ad, Baracuta Rainwear, Playboy Advert
Image by classic_film
Vintage 1960s magazine advertisement, Baracuta Rainwear for men and women, 1965
Tagline:
"What is the Baracuta Lion doing at Pier 92?"
Playboy magazine, September 1965 – Vol. 12 No. 9
Fair use/no known copyright. If you use this photo, please provide attribution credit; not for commercial use (see Creative Commons license).
Girls of Playboy Golf Casting Call & VIP Players Party at Ocean Club
Image by Urban Mixer
Mauricio Galvez and Stacy Gibson – Ocean Club, SABLE entertainment, Mauricio E. Galvez and Michael Woo present this Official PLAYBOY exclusive Girls of Playboy Golf Casting Call & VIP PLAYERS PARTY – read more at www.urbanmixer.com
1965 Men's & Women's Fashion Ad, Baracuta Rainwear, Playboy Advert
Re: GGFANTASY.COM - bitcoin DAILY FANTASY SPORTS | Free and GPP soccer contests!
Weak game today with MC – RM, and no Ronaldo either, I wonder how many risked and took him in their teams anyway 
Bitcoin Forum
Re: GGFANTASY.COM - bitcoin DAILY FANTASY SPORTS | Free and GPP soccer contests!
Bitcoin Trading Holding To $470 Resistance
Bitcoin price continues consolidating to resistance at $ 470 (Bitstamp) and 3000 CNY. Technical analysis looks at the significance of these levels and what they suggest for trend. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $ 29 discount using the code […]
The post Bitcoin Trading Holding To $ 470 Resistance appeared first on CCN: Financial Bitcoin & Cryptocurrency News.
News – CCN: Financial Bitcoin & Cryptocurrency News
Bitcoin Trading Holding To $470 Resistance
Bankrupt SunEdison to sell part of its Chile assets to Colbun
SANTIAGO, April 26 (Reuters) – Solar developer SunEdison Inc , which filed for Chapter 11 bankruptcy protection on Apr. 21, has agreed to sell two energy projects in Chile to power company Colbun for…
Bankrupt SunEdison to sell part of its Chile assets to Colbun
Brave’s Bitcoin Browser ‘Full Steam Ahead’ Despite Publisher Uproar
A cease-and-desist letter hasn’t stopped Brave Software from releasing ad-replacing tech or altering its bitcoin plans.
CoinDesk
Brave’s Bitcoin Browser ‘Full Steam Ahead’ Despite Publisher Uproar
Overstock's Judd Bagley: Crypto is in our DNA, No Reason to Worry
CoinTelegraph spoke to Judd Bagley, Overstock’s Director of Communications, about the company’s continuing support for Bitcoin and cryptocurrency.]]>
CoinTelegraph.Com News
Overstock's Judd Bagley: Crypto is in our DNA, No Reason to Worry
Re: increasing bitcoin price
Quote from: BlackPanda on Today at 02:43:37 PM
buy bitcoin as much as possible this time. invest all your money. next week you can get a tremendous advantage. bitcoin increasingly ascending and will not fall back.
…
…
Re: increasing bitcoin price
Privacy Vs. National Security: Debate Over Encryption Ban Takes a New Turn in the US
Active discussions over Encryption ban take a new turn as the US Intelligence Committee Leaders release Discussion draft of Encryption bill. Bitcoin community members ring alarm bells. ]]>
CoinTelegraph.Com News
Privacy Vs. National Security: Debate Over Encryption Ban Takes a New Turn in the US
Bitcoin Price Breaks $450 as Global Markets Turn Positive
The price of bitcoin broke past $ 450 this week, as markets rallied in response to perceived progress surrounding the network’s block capacity dilemma.
CoinDesk
Bitcoin Price Breaks $450 as Global Markets Turn Positive
Mitsubishi car tests flawed for decades
Japan’s sixth-largest automaker admits using wrong methodology in home market since early 1990s
Transport
Mitsubishi car tests flawed for decades
[2016-04-26]ECB experiments with technology behind bitcoin
ECB experiments with technology behind bitcoin – Mersch
The European Central Bank is doing "experimental work" with the same ledger technology that underpins virtual currency bitcoin. But it needs further research before considering adopt…
Bitcoin Forum
[2016-04-26]ECB experiments with technology behind bitcoin
Bitcoin Wallets Vulnerable To Opt-in Replace-by-fee Double Spend Attacks
The topic of transaction fees has been kicked around a few times in the world of Bitcoin, but the question remains whether or not wallets are ready to deal with opt-in replace-by-fee. Several exchange platforms have taken the necessary steps to detect opt-in replace-by-fee situations, but more efforts are needed.
Also read: Follow My Vote Launches Kickstarter For Blockchain Voting Project
Bitcoin Wallets Are Not Ready For Opt-in Replace-by-fee
It will come as a big surprise to find out a lot of most popular Bitcoin wallet solutions in existence have some serious flaws regarding security, as well as detecting double-spends. Especially this latter part is of particular worry, as a double-spend attack puts the recipient at risk of never obtaining their money.
A recent blog post by Peter Todd shows how all of the wallets tested do not even warn users about a potential double-spend, but most of them also fail at warning WHEN a double-spend has happened. This is an unacceptable scenario for the Bitcoin ecosystem in its current stage, as users have little to no protection when it comes to using some of the most common wallets. With the recent addition of opt-in replace-by-fee, it seems wallet developers have not taken the potential repercussions into account.
But it did not end there, as Peter Todd also mentioned how one in two tested Bitcoin wallets can be easily double-spent. Although these types of attacks usually require a fair bit of technological know-how, this was not necessary during this test. In fact, no knowledge whatsoever will still result in a 100% success rate, The other half of the wallets only had a 25% success rate, but it is still rather worrying.
Luckily, some of the merchant payment providers have started implementing additional security measures to detect potential double-spend attacks. The detection of opt-in replace-by-fee will allow these platforms to check whether or not incoming transactions are followed by the same operation at a higher fee, creating a double-spend.
That being said, the key issue remains that a simple double-spend Python script can let users actually broadcast multiple transactions with different fees. Users who want to experiment with this opt-in replace-by-fee “functionality” should be able to add the necessary code into their mobile Bitcoin wallet software in a matter of days.
Without proper opt-in replace-by-fee detection, Bitcoin wallets will never be able to distinguish whether or not a double-spend will occur. The test run by Peter Todd and his team shows how the tested wallet solutions are all vulnerable to these types of attack, although some tweaking might be needed for particular wallets. Only Mycelium on Android seems to detect a double-spend, but only after the second transaction has received its first network confirmation.
Are you concerned about the lack of double-spend detection tools in most popular Bitcoin wallets? Let us know in the comments below!
Source: Peter Todd
Images courtesy of Shutterstock, Bitckerz
The post Bitcoin Wallets Vulnerable To Opt-in Replace-by-fee Double Spend Attacks appeared first on Bitcoinist.net.
Quarter Copper Coins-3 Pack
bitcoin - click on the image below for more information.
- 3 Total Copper Rounds
- 3 Total Ounces of Copper
- Coins are Quarter Design
- 3 Coin holders come standard
bitcoin
All Rounds Come in Nice, New, Coin, holders
Quarter Copper Coins-3 Pack
Click on the button for more bitcoin information and reviews.
Bitcoin Wallets Vulnerable To Opt-in Replace-by-fee Double Spend Attacks
Subscribe to:
Posts (Atom)