Bitcoin ATM - North Vancouver station

Bitcoin ATMs Face Possible Ban in Vancouver as Crypto-Related Crime Rate Increases

Bitcoin ATMs Face Possible Ban in Vancouver as Crypto-Related Crime Rate Increases submitted by All-Stocks to AllStocksNetwork [link] [comments]

QuadrigaCX: A history of suspicious activity

This is a compilation of everything suspicious I found with Quadriga. Please let me know if there’s anything incorrect or missing

Early History (2013-2017)
All account fundings are considered to be purchases of QuadrigaCX Bucks. These are units that are used for the purposes of purchasing Bitcoin or other cryptocurrencies. QuadrigaCX Bucks are NOT Canadian Dollars. Any notation of $, CAD, or USD refers to an equivalent unit in QuadrigaCX Bucks, which exist for the sole purpose of buying and selling Bitcoin and other cryptocurrencies.
QuadrigaCX is NOT a financial institution, bank, credit union, trust, or deposit business. We DO NOT take Deposits. We exist solely for the purposes of buying and selling cryptocurrencies.

Banking troubles throughout 2018

Period leading up to Gerry’s death

Gerry’s death and announcement

Chain analysis of the crypto trapped in cold storage

Formal Active Investigations

References:
Quadriga’s History
CCN Article listing suspicious activity
Court Documents
submitted by crashcow51 to QuadrigaCX2 [link] [comments]

Vancouver: Selling Bitcoin for Cash

If anyone looking to buy Bitcoin for Cash in the Vancouver area please let me know. This is jamesderrick from Localbitcoins.com I have bee verified since 2014 on LBC. I do commercial mining as well as Blockchain software development. Some of you might even be on this forum I have traded with 👍
PM me or Call/text for a faster response at 778---859---8644.
Always have the best rates compared to any exchange or ATM. Also 100x less the head aches.
Will show you Proof of coin first.
Available usually 24/7. Welcome to meet anywhere public or even the banks (oh the irony) where ever is comfortable for you.
On a side note:
Besides from the trading part, I have a Vancouver telegram chat with 150 ish crypto locals 👍. We talk about everything from in Blockchain from trading to mining etc. Or just general help no spam or shilly project posting or you will be booted this is just a very informative group of ppl helping in the local community.
@Rallytradechat T.me/rallytradechat
submitted by derrickf86 to BitcoinCA [link] [comments]

Most efficient way to spend money in Southeast Asia?

I'm leaving Montreal in a week to travel in Southeast Asia for the next 6 months.
It looks like the most efficient solution is to bring US$100 bills:
I've looked into many different solutions:
What's the cheapest way to get 50 x US$100 bills in Montreal? Are there better alternatives?
submitted by miguelos to PersonalFinanceCanada [link] [comments]

Why I believe we're on the cusp of the 3rd great Bitcoin bubble

We've recovered from the last crash
You might think it's a bit early (based on the time frame for the last recovery), but things are looking a lot different than in 2011. I would suggest its because the last bubble popped prematurely due to Mt. Gox's failure of a trading engine.
Interest in buying Bitcoins has gone up to its highest point since the last bubble.
There's a similar spike in general interest. Partly helped along by the Silk Road news.
The network is being used at the same rate as during the last bubble.
The Bitcoin ATM story (see below) is causing Bitcoin to trend in Canada on Google (was #1 for a bit). The $27 story (see below) will almost certainly cause a large spike worldwide in Google trends once they're updated up to yesterday.
Lots and lots of new businesses now accept Bitcoins
One legitimate criticism of Bitcoin last year was the lack of places to spend them. We basically just had Alpaca Socks, Reddit and Wordpress, we've grown a lot since then!
Charities and others are taking donations
The first Bitcoin I ever spent was to donate to Wikileaks. More and more places are setting up Bitcoin donation buttons, because why not?
The $27 story is going massively viral
I think the attention this story is getting took a lot of us by surprise. We're thinking "of course if you bought Bitcoins in 2009 you're rich" and it didn't make much of a splash. But to the rest of the world it's a very novel and interesting story.
The first Bitcoin ATM has been installed
Easier way for people acquire Bitcoins with cash. Lots of free publicity. More machines are on their way and will generate more and more news.
Institutional money is coming
Afraid with the price at $200 that it will be hard to find enough moms and pops to keep money coming in faster than miners are selling? Don't be, there are individuals out there with a net worth higher than the entire Bitcoin ecosystem.
Interesting new developments
Cool things that didn't exist before the last bubble (as far as I remember).
Governments are explicitly saying it's not illegal
More and more governments are either saying Bitcoins are legitimate currency, or releasing guidelines for exchanges to comply with anti-money-laundering laws.
New generation of exchanges
Mt. Gox's terrible trading engine was a huge factor in the last crash. They couldn't keep up with all the new interest.
This time around there are more exchanges in more countries, and not a single point of liquidity.
submitted by DTanner to Bitcoin [link] [comments]

Three Laws of BTC Bull and Bear Cycle and Its Applications — Freezing Point Forecast — One

Three Laws of BTC Bull and Bear Cycle and Its Applications — Freezing Point Forecast — One
📷
https://preview.redd.it/ithso6k9w7531.jpg?width=750&format=pjpg&auto=webp&s=e87d53120d9cc645b080c070afc5f9b402d56bf3
TOKEN Roll x FENBUSHI DIGITAL
Analyst: Song Shuangjie
Special Adviser: Shen Bo Rin
Guide:
The fourth price-rising cycle of BTC might commence around May 2019. The mainstream institutions join the game and ETF might be the driving force of the fourth round of price cycle.
Summary:
BTC has undergone three rounds of price cycles. ‘It is different this time’ has always been a terrible lesson for investors. The tokens, typical represented by BTC, are special in nature to other financial products, which makes it easily get mistaken that BTC will go up straightly and never decline. When the cycle power works, the asset price, which was thought to create a different history, will collapse. There are 3 major rules of the BTC price cycle:
A. BTC price cycle is closely related to its halving cycle. A complete BTC price cycle lasts for about four years. The price-rising section will commence one year ahead of the time before the output is halved. The BTC output was halved for the first time at the end of November 2012, and before that the BTC price touched the bottom in November 2011. The BTC output was halved for the second time in July 2016, as the BTC price touched the bottom in August 2015. As you can see, each time BTC output halving, is the start of a price-rising cycle, and the price speeding up begins with it.
B. BTC price fluctuation range decreases as market value increasing. The BTC’s (in circulation) market value varies with its price fluctuations, which means BTC’s price rising makes its market value increases, and the price fluctuation range decreases. It is similar to the historical process of other asset classes. During the first price cycle, the price of BTC rose by 10636 times which was the biggest gain, and the maximum drawdown was declined by 93.76%. During the second price cycle, the price of BTC rose by 623 times, and declined by 83.93% maximum. During the third price cycle, BTC rose by 98.57 times at most, the maximum declining has not been confirmed yet.
C. The innovation led by BTC is constantly evolving and more and more approved by the mainstream. From BTC to Altcoin, from Altcoin to Crowdsale, there are iconic innovations and applications in every price cycle. In the first cycle, the birth and gradual application of BTC was a landmark event. In the second cycle, with the re-emergence of BTC in 2013, the tide of the Altcoins was rampant, and a large number of Altcoins appeared. In the third cycle, Crowdsale began to be popular around the world, and many websites started to provide Crowdsale's news and discussion forum. Since 2017, Crowdsale has dominated the blockchain investment, far exceeding VCs and corporate investment. With the development of blockchain technology, the evolution of digital certification, the improvement of practitioners' awareness, and the evolution of government regulation, the innovation led by BTC has evolved and is more approved by the mainstream.
The third round of the price cycle might come to an end around May 2019, and followed by the fourth round of price cycle. The maximum rise in the BTC's fourth price-rising cycle will be smaller than last three cycles. BTC's increasing market value demands more capital. Digital token shall embrace supervision to absorb more institutional funds. ETF will be a viable solution. In the future, it will shift from Crowdsale to ETF, and from deregulation to embracing supervision.
Risk Tips: ETFs have put capital amount into this market less than that we expected. Quantum computer technology is advancing by leaps and bounds
Content
1 The First Round of Price Cycle .
2 The Second Round of Price Cycle
3 The Third Round of Price Cycle
4 Three Major Rules of BTC Price Cycle
4.1 BTC price cycle is closely related to its halving cycle
4.2 BTC price cycle is closely related to its halving cycle
4.3 BTC-led innovatioized by the mainstream
5 The new journey of BTC will Start in May 2019
List of Graphs
Graph 1: BTC Price Trend in The First Price Cycle (in USD)
Graph 2: BTC price trend in the second round of price cycle (in USD)
Graph 3: The number of tokens in 2013 has increased significantly Graph 4: BTC price trend in the third round of price cycle (in USD)
Graph 5: VIX index and BTC price are negatively correlated
Graph 6: Crowdsale has dominated blockchain investment since 2017 (millions of US dollars)
Graph 7: A large number of Crypto Funds were established in recent years.
Graph 8: ETH price trend (in USD)
Graph 9: ETH price is positively related to the size of Crowdsale financing
Graph 10: Lightning network capacity continues to grow
Graph 11: The number of lightning network channels continues to grow
Graph 12: The global Crowdsale growth rate slows down in 2018 .
Graph 13: Crowdsale’s fundraising has started to decline since 2018 .
Graph 14: Significant growth in venture capital in the blockchain sector in 2018
Graph 15: BTC block reward trend reduction
Graph 16: BTC price cycle and halving mechanism (in USD)
Graph 17: BTC market value scale trend increase
Graph 18: BTC price fluctuations become smaller
Graph 19: Admission to mainstream institutions has continued since the end of 2018
Graph 20: The third round of the price cycle may be completed around May 2019
Graph 21: The current stage of the price cycle has been probable more than half, and the downside space is limited
History doesn't repeat itself, but it does rhyme. --Mark Twain
‘It is different this time’ has always been a terrible lesson for investors. The tokens, typical represented by BTC, are special in nature to other financial products, which results in producing an idea, in some investors’ mind, that the price of BTC will go up straightly and never decline. When the cycle power works, the asset price, which was thought to create a different history, will collapse. No matter it is the A-share market of 2007 or the one of 2015, or any ‘bubble time’ in human history, the cycle power played its role. As far as BTC is concerned, its price has also experienced three rounds of cycles.
In addition, when the asset price is in a dark period of continuous decline and weak rebound, the power of the cycle also works. As long as it is a valuable asset, its price will eventually bounce back from the bottom. Opportunities have always been there, if you have an asset with high potential in hand. In the dark moments before dawn, the more you are afraid, the more you will be confused. At this time, you have to believe in the value investing. ‘Be fearful when others are greedy and be greedy when others are fearful’, not the other way around. That means, we shall invest reversely, buying undervalued assets gradually in the bottom region of price decline cycle; selling overvalued assets gradually in the top region of price-rising cycle; and following the trend in other time region of the cycle.
1 The First Round of Price Cycle
The first round of BTC price cycle lasted for 610 days, from March 2010 to November 2011, and in this cycle, BTC price rise rate was the highest of BTCs three price cycles.
The price rise stage of the first round of price cycle, from March 2010 to June 2011, lasted for 447 days. The starting price was 0.003 USD/piece, and the highest price was 31.91 USD/piece, the rise rate reached 10,636 times. The price decline section of the first round of price cycle, from June 2011 to November 2011, lasted for 163 days. In this price decline section, the starting price of BTC was $31.91 per piece, and the lowest price was $1.99 per piece. The decline rate was 94%.
On May 22, 2010, the famous BTC Pizza dealt. Laszlo Hanyecz from Jacksonville, FL, bought two pizzas with 10,000 BTCs. Each price ofBTC is less than 0.01US dollars.
In the first round of the price cycle, there is no explicit positive or negative factors causing BTC's price huge fluctuation. Fluctuations are more like in a “natural” situation. Before the first BTC bubble bursted in November 2011, its price was in a trend of increasing. The reason of rise was that the price base of BTC was very low. With the understanding of BTC gradually getting better, the demand increased, and then, the price rose. For example, June 2011, WikiLeaks and some organizations began accepting BTC donations.
https://preview.redd.it/ol9mlz0kw7531.png?width=688&format=png&auto=webp&s=7f76ac24ef02d785f56c8a770be745cfeddbb1e7
2 The Second Round of Price Cycle
The second round of BTC price cycle lasted for 1377 days, from November 2011 to August 2015, and in this cycle, the price of BTC exceeded gold for the first time.
The price rise stage of the second round of price cycle, from November 2011 to November 2013, lasted for 743 days. The starting price was $1.99 USD/piece, and the highest price was 1,242 USD/piece, the rise rate reached 623 times. The price decline section of the second round of price cycle. From November 2013 to August 2015, lasted for 634 days. In this price decline stage, the starting price of BTC was 1,242 USD per piece, and the lowest price was 199.57 USD per piece. The decline rate was 84%.
At the second price cycle, the range of application of BTC has been greatly expanded. In November 2012, WordPress began to accept BTC; and in October 2013, the world's first BTC ATM was deployed in a coffee shop in Vancouver where customers could buy and sell BTC. In November 2013, the University of Nicosia announced accepting BTC for tuition, the university's chief financial officer called it "gold of tomorrow"; In addition to some underground economy and gray economy began to accept BTC, BTC is also getting closer to daily life.
The success of BTC popularized altcoins. The first type of altcoin LTC (Litecoin) was created in October 2011, and it is the time when the BTC price came to the end of price decline. In 2011, Namecoin and SwiftCoin were born successively. In 2012, Bytecoin and Peercoin were issued, however, BTC was still in the stage of rising slowly from the bottom, and the market was not hot. Along with the re-emergence of BTC in 2013, the tide of the altcoins is rampant, and a large number of altcoins are issued. According to CoinMarketCap data, there were 66 kinds of altcoins at the end of 2013, while there were less than 10 at the beginning of the year.
The safe-haven properties of BTC are widely approved. BTC was a choice for people in many countries that are in crises. The residents flocked to BTC, hoping to maintain assets value through BTC. This phenomenon has occurred many times during the European debt crisis. For example, in early 2013, in order to get the bailout, the Cyprus government imposed taxes on deposits and imposed strict capital controls. In order to prevent property from shrinking, the Cypriot people rushed to bank runs and exchanged their currencies for BTC. The price of BTC quickly rose from 30 something to 265 US dollars.

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Due to the lack of supervision, BTC is often affected by negative events, which makes the market confidence in the danger of collapsing. In October 2013, the FBI seized approximately 26,000 BTCs from the Silk Road website, causing the BTC price to collapse to 110 US dollars. On December 5, 2013, the People's Bank of China banned the use of BTC by Chinese financial institutions, which made the price of BTC declined. In February 2014, Mt. Gox, the largest BTC exchange at the time, said that 850,000 BTCs of its customers were stolen, worth nearly 500 million US dollars, and BTC prices fell nearly half, from 867 to 439 US dollars.
The emergence of a large number of altcoins caused market bleeding. Since 2014, the number of altcoins has exploded. By August 2015, the number has reached 556, resulting in diversion of funds and market expansion. On May 1, 2013, BTC accounted for 94.29% of the market value of all tokens, and the market value of other tokens except the top 10 tokens was about 1%. By August 25, 2015, the proportion of BTC is about 83%, and the other tokens account for 4%, which is obvious.
No matter how magical token is, it is still a kind of asset. The mean return of value is a basic common sense of investment. The value will pull the price back to it, just like the gravity. The risk increases with the price rises, and the value appears when the price declines. In the rising section of this cycle, the price of BTC rose by 623 times, which is a great rise rate. When the price is too high, and the potential return in the future is insufficient, the attractiveness to new investors will fall, and the old investors will leave and look for more lucrative assets. Once the power of trend investors exhausted, the trend will reverse.
3 The Third Round of Price Cycle
The third round of price cycle of BTC is not over and is currently in the downward phase of the cycle. The price increased from August 2015 and lasted for 845 days till December 2017. The starting price of the price-rising cycle BTC was 199.57 USD/piece, and the highest price was close to 20,000 USD/piece. The rise rate is up to 99 times. Since December 2017, the price started to decline. The price has fallen to the lowest 3,191.30 US dollars up to now, a drop of 84%.
BTC networks expanded rapidly, and BTC has gained increasing recognition among legislators and traditional financial companies. Studies have shown that by November 2013, the commercialization of BTC is no longer driven by the underground economy, but by legitimate businesses. During this price cycle, people from more countries can get in touch with, select, trade and use BTC on a daily basis. In January 2016, Bitcoin computing capacity reached 1 exahash/S for the first time; In March 2016, the Japanese cabinet acknowledged that BTC has a function similar to real money. In 2017, Norway's largest online bank Skandiabanken integrated BTC accounts. In December 2017, Chicago Mercantile Exchange (CME) officially launched BTC futures, which is an important step for BTC to take toward mainstream investment. In October 2018, Fidelity launched its independent subsidiary Fidelity Digital Asset Services to provide digital asset services to institutional customers. In December 2018, the first round of financing was completed by the token exchange Bakkt launched by the Intercontinental Exchange. In February 2019, Nasdaq officially launched - Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX)- two indexes. The pension fund of US invests in the encryption fund, the mainstream organization is accelerating, and the relevant infrastructure is gradually improved.
BTC has become a risky asset. Under the current “three lows” environment - low interest rates, low spreads and low volatility, investors are seeking high returns, which leads to excessive financial risk behaviors and complacency, investors' risk appetite, and high leverage tools and the acceptance of high-risk products has increased, arbitrage transactions have prevailed, liquidity mismatches have been severe, and the overall market is fragile. As the results we can see that, the price of BTC is increasingly correlated with the VIX index (Chicago Options Exchange Volatility Index). A lower VIX index indicates that investors expect less volatility, while a higher VIX indicates higher expected volatility. The lower VIX index indicates that investors are optimistic about S&P 500, while the higher VIX means that investors are uncertain about the market outlook. When market volatility declines, investors buy stocks and other types of risk assets, when the market volatility rises, investors sell risky assets.
Risk assets will be dumped when risk appetite reduces panic market. BTC bid farewell to the nature of safe-haven assets and become a risky asset. Since December 2017, with the decline of the VIX index, the price of BTC rises, and the price of BTC is negatively correlated with the VIX index. At the beginning of 2018, the VIX index skyrocketed and BTC fell rapidly. In October 2018, the global market risk aversion trend increased, the VIX index went up, and the BTC price also fell sharply.

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Crowdsale has become the main financing method in the blockchain field. Crowdsale was born in the second round of the price cycle, Mastercoin did the world's first Crowdsale in July 2013. In 2014, Ethereum also raised funds through Crowdsale, when the price of ETH was less than 0.22 USD per piece. After 2016, when it is in the third price cycle, Crowdsale is popular around the world, and many websites began to provide information and discussion communities for Crowdsale. From a global perspective, Crowdsale has dominated the blockchain investment since 2017, far exceeding VCs and corporate investment. In 2017, Crowdsale raised 7.4 billion US dollars, and in the first half of 2018, Crowdsale Raised 12 billion US dollars.
The Crypto Fund emerged. Along with the Crowdsale boom, a large number of Crypto Funds were created. The number of Crypto Funds newly established in 2017 was nearly 200, far exceeding the total amount of the Crypto funds created in previous years, which fully demonstrated that, with the rise in the price of the token, the enthusiasm of funds to blockchain field is high.

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The rise of blockchain 2.0, the Crowdsale tide pushed ETH up nearly 10,000 times. In the third round of the BTC (Token) price cycle, the biggest star is not BTC, but ETH. Crowdsale after 2016, issued tokens mainly through Ethereum, which represented the rise of ETH in the blockchain 2.0 era. Crowdsale prosperity boosted the rise of ETH. On January 13, 2018, the price of ETH rose to a peak of 1,432.88 US dollars per piece, which is 6512 times rise rate comparing to its initial price.
The ETH price has a significant positive correlation with the growth rate of Crowdsale financing. The growth rate of Crowdsale financing decreased by 69.23% in 2015, the price of ETH decreased by 66.30% in the same year. In 2016, the growth rate of Crowdsale financing increased by 2737.5%, and ETH increased by 753.74%. In 2017, the growth rate of Crowdsale financing increased by 3,159.91%, and ETH rose by 8809.91%.

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Plan for public blockchain performance improvement emerged, and significant progress were made in lightning network. With the popularization of blockchains, the congestion of BTC and other public chains has gradually emerged, and performance has become one of the bottlenecks in the blockchain industry. In 2018, the performance-improvement plan of the public blockchain emerged. Improvements were made to the difference in blockchain logical architecture, including on-chain capacity expansion schemes by improving consensus mechanism and sharing, and off-chain capacity expansion schemes by status channel, sidechain, off-chain computing, and Layer 0 expansion scheme that enhance the scalability of the blockchain by optimizing the underlying data transmission protocol of the blockchain. Since the main net of BTC lightning network goes live, the number and capacity of channels have been increasing. As of March 10, 2019, the capacity has reached 790 BTC, and the number of channels has reached 35,464.

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Note: The Unique channel refers to the channel that is directly connected to the node for the first time, and the Duplicate channel refers to the channel between the nodes that have been connected.
The standardization of the token is promoted. On January 22, 2018, South Korea required all BTC dealers to disclose their identity, thereby prohibiting anonymous trading of BTC. During the first quarter of 2018, Facebook, Google and Twitter prohibited the promotion of Crowdsale, while the US Securities and Exchange Commission investigated a large number of Crowdsale projects, and issued bans to some Crowdsale projects. Regardless of the government's attitude towards the token, it is committed to incorporating the token into the regulatory framework for legal compliance.
The Crowdsale bubble bursted and the magical story is no longer magical. According to incomplete statistics, in 2017, 871 Crowdsale were completed in the world. These projects involved directions as distributed analogous Facebook, twitter, amazon, and next-generation public chain (blockchain 3.0), etc. These projects have raised a large amount of funds, but the actual operating is worrying. The promotion of the project dissipated a large amount of funds, but the actual development progress was far less than expected, resulting in the market's expectation failure and the diversion of funds from the mainstream token. Superimposed the impact of more and more negative news, technical adjustment requirements and market sentiment fluctuation. The market enters a negative cycle, as the decline begins.

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In 2018, there has been rapid growth in venture capital in the blockchain sector, indicating that venture capital still have good expectations about the application and future prospects of the blockchain. According to Coindesk data, the risk investment in the blockchain sector in 2018 reverse the decline of 2017, year-on-year increase of 257%, and the total amount for the year 2018 reached 3.1 billion US dollars.

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BTC peaked first. In terms of time, in the third round of the price cycle, the first to peak is BTC, which reached 19,870.62 USD per piece in December 2017. The peak of ETH happened later than BTC, in January 2018. EOS did not peak until April. The important reason for BTC to peak first is that the amount of funds needed to support the BTC market value scale is the largest. When the market’s ability to carry on is not enough, it is inevitable for the price of BTC to react first.
4 Three Major Rules of BTC Price Cycle
The price cycle of BTC has obvious regularity, and some unchanging factors determine the price fluctuation of BTC.
4.1 BTC price cycle is closely related to its halving cycle
One full BTC price cycle lasts approximately four years. In the first round of price cycles, the measure of time span is not reliable because of the availability of BTC trading prices. The second round of the price cycle lasted for 1,377 days, from November 2011 to August 2015, about four years.
The price-rising cycle of BTC is closely related to its halving period, and the price-rising cycle starts one year before each halving. At the end of November 2012, the first production of BTC was halved, that is, the number of BTC generated by each block was 25, and in November 2011, the price of BTC has bottomed out, and the halving of BTC is one year after the second price-rising cycle. In July 2016, production of BTC was halved the second time, that is, the number of BTC generated by each block was 12.5. In August 2015, BTC had already bottomed out, and BTC's production was reduced again one year after the third price-rising cycle started.

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BTC output halving blows the horn of each price-rising cycle, and the price speeding up begin. Although it is not BTC output halving that brings the price-rising cycle, but the halving of BTC output significantly reduced the growth rate of BTC supply, speeding up the rise of BTC price and the price-rising cycle. From November 2011 to November 2012, before the halving of BTC output, BTC increased by 6.74 times in one year. From November 2012 to November 2013, BTC price increased by 99.57 times. In the third price-rising cycle, BTC price rose by a maximum of 2.87 times in about 11 months before the production cut. After halving, BTC price rose by a maximum of 29.73 times in about 11 months.

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4.2 BTC price cycle is closely related to its halving cycle
The change in the market value scale of BTC (circulation) is mainly caused by its price fluctuations, and has little to do with the changes in the total amount of BTC output. According to CMC data, by April 28, 2013, the total amount of BTC that had been mined was about 11.18 million pieces, which is more than 53% of the total amount of BTC of 21 million pieces. The halving mechanism of BTC also accelerated the marginal decline of BTC total growth rate. Compared with the amount of BTC already mined, the new supply of BTC is very insignificant. In addition, the volatility of BTC prices far exceeds the volatility of BTC's total output, and the market value of BTC fluctuates with its price.
The market value of BTC has increased in trend. Because of the trend of BTC price-rising, the number of BTC total output has also increased in one direction, and the market value of BTC has increased in the long run. According to CMC data, on April 28, 2013, BTC's market value in circulation was only 1.5 billion US dollars. By the peak of the third price-rising cycle, the market value increased to 326.1 billion US dollars, and the current market value also reached 113.8 billion US dollars, increased by 74.87 times.
The price volatility of BTC is gradually getting smaller. With the increasing of BTC market value in trend, the BTC market is becoming more and more mature, more and more accepted by the public, more and more professional organizations are participating, the compliance operation is becoming mainstream, and the BTC price volatility is decreasing. Similar to the historical process of other asset classes, and the same thing is repeated again and again. In the first price cycle, the price of BTC increased by 10636 times, and the fell by 93.76% maximum. In the second price cycle, the price of BTC increased by 623 times, and fell by 83.93% maximum. In the third price cycle, the maximum increase of BTC price was 98.57 times, and the biggest decline has not been confirmed

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4.3 BTC-led innovation continues to evolve and is more and more recognized by the mainstream
From BTC to Altcoin, from Altcoin to Crowdsale, there are iconic innovations and applications in every price cycle. In the first cycle, the birth and gradual application of BTC was a landmark event. In the second cycle, with the re-emergence of BTC in 2013, the tide of the Altcoins was rampant, and a large number of Altcoins appeared. In the third cycle, Crowdsale began to be popular around the world, many websites started to provide Crowdsale's news and discussion forum. Since 2017, Crowdsale has dominated the blockchain investment, far exceeding VCs and corporate investment.
The original intention of Nakamoto to create BTC is to establish a more efficient means of trading that can be electronically transferred in a safe, verifiable and non-tamperable form. During the early days of bitcoin and blockchain development, this drove the development of most applications of BTC and blockchain. However, with the development of blockchain technology, the evolution of digital token, the recognition of practitioners, and the evolution of government regulation, the changes led by BTC continue to evolve and gain more mainstream recognition.
More and more countries recognize that the blockchain reflects its unique value in many fields. The government has gradually incorporated digital token into regulation, and mainstream institutions are increasingly recognizing BTC. In 2017, the Chicago Mercantile Exchange (CME) officially launched BTC futures, as BTC took an important step toward mainstream investment, improving the accessibility of BTC to traditional financial institutions. In March 2017, Cameron's Cliveworth and Taylor W. Crawworth brothers attempted to submit an application to the US Securities and Exchange Commission for BTC ETF (transactional open-ended index fund). Although on September 22, 2018, US Securities and Exchange Commission rejected nine BTC ETF applications, the approval of BTC ETF application is a high probability event in the long run. With the continuous improvement of related infrastructure and the gradual maturity of the market, the pace of institutional entry has shown signs of acceleration. Since the end of 2018, news about the organization of encrypted assets by mainstream institutions has continued.

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5 The new journey of BTC will Start in May 2019
The fourth price-rising cycle of BTC will start in May 2019, and mainstream institutions will enter the market, while ETF may become the core trend of the fourth round of BTC price cycle.
From the perspective of supply, the third halving of BTC begins around May 21, 2020. The price-rising cycle of BTC is closely related to its halving period. The price-rising cycle starts about one year before halving. From this perspective, the BTC price-rising cycle may be opened around May 2019.

https://preview.redd.it/29dzwhwtw7531.png?width=695&format=png&auto=webp&s=7e69a27442cd093611027fd067cb4bbd784cb2b0
From the time dimension, the complete BTC price cycle lasts for about four years. The third round of the price cycle, which started in August 2015, will be completed around August 2019, and the fourth round of the price cycle of BTC will begin thereafter. Considering that the data in the second round of the price cycle is more reliable, only the second round of price cycle data is used as the measurement standard, the complete price cycle is 1377 days, about 3 years and 9 months, and the third round price cycle may end around May 2019.
Combined with the previous two BTC price cycles, the downturn phase of the current price cycle has been probably more than half, and further downside space is limited. In the first two rounds of the price cycle, the duration of the downlink phase is less than the duration of the uplink phase. The duration of the third phase of the price cycle has been confirmed (845 days), while the duration of the downturn phase has been more than half of the upstream phase (450 days). From the first two rounds of the price cycle, the rapid decline in prices occurred in the early stage of the downtrend phase. The price fluctuations of BTC in the second half of the downturn phase have been significantly reduced. The BTC price declines reached 61% in the first half and 74% in the second round of the price cycle, and the corresponding maximum declines in BTC were 94% and 84% respectively. In the current round of the price cycle, the biggest drop has reached 84%, so take it from now, even if the price is further down, the downside space is already limited.
https://preview.redd.it/kra7vduuw7531.png?width=684&format=png&auto=webp&s=4f1eda32d42a15b4e34ebfa5dbdaee78065ab110
Note: The data of the third round of the price cycle and the total duration are up to March 12, 2019.
From the price dimension, the downside space of the current round of BTC prices is limited, and the maximum increase of BTC's fourth price-rising cycle will become smaller. In the first price cycle, the price of BTC increased by 10636 times, and fell by 93.76% maximum. In the second price cycle, the price of BTC increased by 623 times, and fell by 83.93% maximum. In the third price cycle, the maximum increase of BTC price was 98.57 times, and the biggest decline has not been confirmed. On February 6, 2018, BTC fell to a minimum of 3,191.30 US dollars per piece, drop by 84.07%, has reached the low of second round of price cycle, from the perspective of price adjustment, BTC price downside has been more limited. The maximum increase in the fourth price-rising cycle of BTC will be smaller.
From the perspective of risk, after a year of continuous adjustment, BTC prices have fully fallen, risks have been gradually released, and investor’s risk appetite has risen to create favorable conditions for BTC prices to stabilize. Beginning at the end of December 2018, the VIX index has fallen, and now it has reached 15 or below. The investor's risk appetite has gradually picked up, creating favorable conditions for the BTC price to rise stably.
Last but not least, from the perspective of capital, the mainstream institutions accelerated their entry and many positive signals were released. With the continuous improvement of related infrastructure and the gradual maturity of the market, the pace of institutional entry has shown signs of acceleration. Since 2018, on the one hand, the entry of mainstream institutions can bring incremental funds to the entire market, on the other hand, it also contributes to the formal development of the entire industry.
The value of the BTC's market value in circulation continues to increase, and the digital token embraces regulation. It is expected that the ETF will be the core trend in the fourth price cycle. As the value of the BTC and digital token market increases, their use will be more tied-up to legitimate use than illegal activities. According to the US Drug Enforcement Administration (DEA) data, only 10% of the current BTC transactions is related to illegal activities and 90% is used for legal transactions. BTC's increasingly large market value requires more financial support. Digital token will embrace supervision to absorb more funds, and ETF will be a viable solution. In the future, there is going to be an evolution from Crowdsale to ETF, from regulation to embrace supervision.
Note:
Although in this report, we try to predict the bottom and time of Token, especially BTC, by using time and space cycle, we would like to tell investors that it is very dangerous to invest basing on a specific dot and time. An investment shall base on the assessment of the value of the token.
Here are our suggestions: 1. Do not try to predict the market. Mistakes are liable to happen when you try to predict market harshly. 2. Feel the cycle. Cycle is always there, because of the constant human nature;3. Be with a good Token, which will bring you more chance to win. 4.Keep valuation in mind. The most important thing in value investing is to keep the valuation in mind. If the price is reasonable, everything is getable. The key is the difference between price and value (Absolute valuation method is not available with Token because of its specialty. However, a relative valuation method can be applied. Please refer to Token Toll’s report series).
Notions:
For some reasons, some definition in this report are not very defined, such as: Token, Digital Token, Digital Currency, Currency, Crowdsale, etc.
If you have any questions, be free to call us to discuss with us.

https://preview.redd.it/bjnu2hjvw7531.png?width=698&format=png&auto=webp&s=43df46d8337c63a52b8a7089ed5e24360f3b281d
submitted by Token_Roll to u/Token_Roll [link] [comments]

The Regulatory/Legal Environment

Hello! My name is Daria Volkova and I am the Head of Platinum Legal Department. Our team believes that these are exciting times for the crypto market. We supported more than 100 clients, created and promoted their STO and ICO campaigns, got from an idea to funding in a matter of 2.5 months! See the full list of our services: Platinum.fund We are more than proud to present our education project. The UBAI can help you to learn specifics about cryptocurrencies and blockchain technologies. Learn all about ICO avenues and opportunities, plug into the world of trading cryptocurrency markets, become an expert in scam projects, promoting ICOs and STOs, launching your own campaigns and many more! What are the different cryptocurrency regulations in major countries? Find the answer after reading this article.
Cryptocurrency Regulations across Major Countries
Cryptocurrency and the blockchain industry may seem sufficiently exciting and attractive to you now. After all, you are taking the time and effort to study this course. You may be planning to work in cryptocurrency and the blockchain industry. Of course, we want to encourage you and help you proceed toward your goal. But it is also important you understand the regulations guiding the blockchain industry to help keep yourself out of trouble.
This year, in particular, seems to be the year in which a lot of countries are looking to finally coalesce the regulations relating to the blockchain industry into a workable legal framework. Some countries are more accommodating to cryptocurrency and blockchain technological innovations while others are still more cautious. We will examine how each major country is forming their own regulatory framework for the blockchain industry.
Canada
Cryptocurrencies are not considered legal tender in Canada. This was clearly expressed by the country’s Financial Consumer Agency (FCA). Canada, like the US, has yet to clearly define or legislate a framework surrounding cryptocurrencies. But Canada still appears to be among the most transparent of countries for the nation’s interpretation and enforcement of the law surrounding cryptocurrencies (aside from Switzerland). For the time being, Canada has clearly stated its reluctance to adopt cryptocurrency as a legal tender, due to its high volatility. “ “The United States of America (USA)
There are certain laws regarding transactions in virtual currency in the US today but there is still no comprehensive legal framework. The Commodity Futures Trading Commission currently regulates virtual currencies as commodities. The CFTC is the first US regulator to allow for public cryptocurrency trading. The Securities and Exchange Commission requires registration of any virtual currency traded in the US if it is classified as a security (e.g. by the Howey test).
The regulatory authorities have not yet formulated or offered a coherent framework for regulations regarding cryptocurrencies. Typical of most legislators and regulatory agencies in the US, the Securities and Exchange Commission (SEC) has intensified its focus on the pressing need for comprehensive regulation. And it seems everyone is waiting for the right catalyst to coalesce into a usable set of legal guidelines that can protect the investing public and also allow for blockchain and cryptocurrency innovation as well.
If cryptocurrency becomes a form of legal tender in the US, there will likely be stringent laws on its use. However, if cryptocurrency is treated like a security, cryptocurrencies would be regulated under securities law as interpreted by the SEC. Present securities laws place a large number of limitations on who is able to buy securities, how they are traded, and how to ensure transparency in the flow of information relevant to investors. Also note that non-US investors may experience their own difficulties getting a license to trade cryptocurrencies in the country. “ “Japan
Japan has always been one of the most positive and forward-thinking nations regarding cryptocurrencies and the blockchain. Of course, they were cautious at first, and they knew no more than anyone else in government, which means they literally knew nothing. But they took time to research, learn, and develop an approach to regulate the industry without killing it. The official policy is clear: Protect the public interest, but also encourage the growth of the industry with a legal framework that allows for innovation in blockchain and cryptocurrencies.
China
The situation in China is a sad one. The country has been taking increasingly strict actions to discourage and outlaw any activity related to the blockchain industry. China has banned ICOs, frozen all accounts associated with cryptocurrency, stopped bitcoin miners and even ordered a nationwide ban on all forms of cryptocurrency trading.
China has the strictest laws against cryptocurrency. Yet, despite that fact, as of 2017, 50% of the world’s mining population was from China! If you are involved with the cryptocurrency industry it is strongly advised to stay away from China, and avoid transactions with Chinese business because of the unpredictable and negative legal framework.
“ “The United Kingdom & European Union
Brexit is scheduled to take place in March 2019, yet the UK and the EU still remain united in their regulatory attitude toward cryptocurrencies. There are also reports that the UK and EU are planning to end anonymity for cryptocurrency traders.
The UK and EU are both trying to control all the scams and frauds. They are working with cryptocurrency platforms to stop or at least report all suspicious transactions. This adds a degree of regulatory burden on the exchanges as well as increasing the associated compliance costs. Cryptocurrencies are extremely volatile. They are a high-risk investment. Governments across Europe are greatly concerned about the possibility of both retail and sophisticated investors losing a lot of money.
This has led to a situation similar to that in the US. The regulatory authorities have not yet formulated or offered a coherent framework for regulations regarding cryptocurrencies. There is an intense focus on the pressing need for comprehensive regulation. And everyone is waiting for the right catalyst to coalesce into a usable set of legal guidelines that can protect the investing public and allow for blockchain and cryptocurrency innovation as well. We certainly hope for intelligent and effective legislation from all the major countries. “ “Accommodating & Unaccommodating Countries
Below is a list of countries we have not specifically covered, but they have each taken an active position on a regulatory framework for cryptocurrencies. The following countries are either supportive or at least neutral toward cryptocurrencies:
-Switzerland. -Australia. -Nigeria. -Ghana. -South Africa. -Singapore.
Countries with the most stringent and negative cryptocurrency regulation:
-Venezuela. -South Korea. -India. -Russia.
Did you know?
It is not uncommon to see Bitcoin and other cryptocurrency ATMs throughout Japan.
Exchange robberies and hacks like MtGox, and the recent loss of $530 million NEM coins have led to serious debate in the Japanese government. The industry needs to provide a secure and manageable solution to these problems. Voluntary self-regulation and close cooperation with regulatory authorities is the most favored solution. It seems the regulators are working hard behind the scenes right now leading the industry in the desired direction in typical Japanese fashion. “ “Blockchain Industry Regulations in the USA
Based on the information received from the Columbia Science and Technology Law Review, there was a variety of responses from different government bodies about blockchain regulations. The regulators responses ranged from indifference to suspicion, and to positive expectation and excitement.
The US government has tremendous constitutional power to regulate business and industry, including of course the blockchain industry if it so desires. But basically, the federal government has been relatively indifferent and has even refused to speak on blockchain regulations despite the interest of various federal agencies. As of 2017, eight states in the US were working on bills promoting the use of cryptocurrency and blockchain technologies. It is even reported that a few states have actually begun the final steps before voting and passing legislation into law.
On April 3, 2018 Arizona introduced a law allowing corporations to hold and share data on the blockchain. The governor, Doug Ducey, put forward the legislation after the state began accepting signatures and smart contracts recorded on the blockchain as legally valid documentation. In 2017, Delaware was the first state to pass legislation allowing for shares of stocks to be legally traded on the blockchain.
Other notable developments have occurred in the US at the state or local level. Vermont makes use of blockchain as evidence in trials. Chicago uses blockchain to maintain real estate records. New York is currently evaluating four bills for the application of data storage on the blockchain. “ ” Blockchain Regulations in Europe
The entire European Union has approached blockchain with a positive and welcoming attitude. The EU has taken the position that they want to actively encourage innovation. This philosophy could support the development of cryptocurrencies in two ways:
-Encouraging the exploration of uses testing the impact and effect of the laws in a way that allows for a more finely-tuned and sophisticated understanding for all parties involved.
-Giving entrepreneurs the confidence that their target markets will be more trusting of their solution since they are operating with the explicit legal support of the state.
This approach, along with the EU’s scope as the regulator of 28 different countries, will encourage growth across the entire crypto ecosystem, and may end up transforming Europe into one of the most desirable destinations for blockchain development. Entrepreneurs are likely to move to the EU bloc to access the rich vein of available talent, as well as the positive and supportive laws.
The EU has actually disclosed through its executive arm that it is working on the use of blockchain for distributed ledger based projects. EU officials have constantly stated they are looking for ways to support more innovation with distributed ledger technology. The European Commission said it was “”actively monitoring Blockchain and DLT developments”” and has work in progress to explore “”DLT benefits and challenges as well as fields for application in financial services””.
The official press release stated that the commission clearly wants to “”pilot projects to foster decentralized innovation ecosystems and help reshape interactions between consumers, producers, creators and among citizens, businesses and administrations to the end benefit of society””. “ “Blockchain Regulations in Europe §2
Switzerland has gradually become the favored hub for cryptocurrency and blockchain development in Europe. This position has been enhanced through a Swiss non-profit blockchain and cryptographic technology ecosystem known as the Crypto Valley Association.
The Crypto Valley Association has begun working on the development of an ICO Code of Conduct to take advantage of the ban imposed by China on token crowd sales. They are hoping to capture the Chinese and Asian entrepreneurs searching for a new home.
Other countries are not as accepting of this new DLT technology and have even gone as far as classifying it as illegal and immoral behavior. There have been hyperbolic concerns most notably from China that cryptocurrencies will destabilize world financial markets.
There are various pilot projects and efforts to prove the benefits of cryptocurrencies and the blockchain industry currently being tested all across Europe. Yet even now they are barely scratching the surface of the full potential of the blockchain.
Country-by-Country Cryptocurrency Adoption
Citizens of countries all over the world have varying attitudes about cryptocurrency. These attitudes and sentiments can be very significant to the future adoption of cryptocurrencies because politicians and regulators tend to act in consideration of the collective opinion of the public. Some countries were more accommodating at first but then became stricter, despite positive public interest, basically saying they are still not sure about the possible consequences and benefits of the technology. “ “Country-by-Country Cryptocurrency Adoption
Estonia
Surprisingly enough this small Baltic nation has gained a reputation for being quick to accept technological innovation. Estonia has a tech-friendly government eager to accommodate the innovative use of cryptocurrency in fields ranging from blockchain technology for healthcare and banking services; and even granting citizens the right to become what is known as “e-Residents”.
As e-Residents, Estonian citizens and businesses are provided with digital business authentication. It is also one of the first countries to employ the use of a blockchain-based e-voting service that enabled people to become shareholders of NASDAQ’s Tallinn Stock Exchange.
This fascinating and highly innovative country is now host to a number of Bitcoin ATMs and startups, like Paxful. They are cryptocurrency friendly, and cryptocurrency user friendly as well. Estonia also has highest internet penetration rates in the world.
Estonia may be a fine place to consider basing your ICO due to the friendly legal and regulatory environment.
This and a lot more you can learn on our website: www.ubai.co! “ “Country-by-Country Cryptocurrency Adoption
The United States of America
The USA is the world’s dominant superpower, and it should come as no surprise that it has the highest number of cryptocurrency users in the world. It also has the highest bitcoin trading volume and the highest number of bitcoin ATMs.
Powered by Silicon Valley, which is home to a lot of cryptocurrency and blockchain startups, the US stands at the forefront of all things relating to cryptocurrency worldwide. Many other nations are planning to follow the US lead concerning cryptocurrency regulations. This means the USA will serve as the testing ground for cryptocurrency and crypto-regulation in the years to come. This is likely where the future regulatory framework will take shape.
Bitcoin in particular has shown massive growth in the US. This can only be interpreted as a strong tailwind for a positive regulatory environment because the population at large supports blockchain technology.
For the moment, due to regulatory paralysis and the resultant legal vacuum, ICOs are strongly advised against raising funds or basing operations in the US. The SEC has been particularly strict in its enforcement of securities and investment law which require an ICO to do an oppressive amount of compliance work. “ “Country-by-Country Cryptocurrency Adoption
Denmark
When it comes to technological advancements and the standard of living of its citizens, Denmark is among the world leaders. It is considered one of the most developed countries in the world. It is also at the forefront of countries looking to reduce the use of cash money and advance to the use of 100% digital currency. As such, sentiment among the general public and political sphere actively supports the adoption of cryptocurrencies as a means of payment. The only question left is which particular cryptocurrency system to adopt. It is still unclear whether bitcoin is the one, or BTC will mainly just be accepted as a means of exchange. There are also discussions in Denmark about when to redesign its national financial system; this would be a “world first”, and a radical leap forward for cryptocurrencies.
Another fascinating thing is that the Danish Central Bank has declared BTC as a non-currency; meaning its use is not subject to the country’s currency regulations. Some of the top bitcoin startups and exchanges such as CCDEK have their foundations in Denmark.
With its open market and encouraging regulatory framework, Denmark might very well rival Switzerland in Western Europe for the position of the continent’s preeminent ICO and blockchain industry hub. “ “Country-by-Country Cryptocurrency Adoption
Sweden
Sweden is quite similar to Denmark, for its social and demographic climate, and also for the government’s desire to eliminate cash. The Swedish Riksbank recently introduced negative interest rates. This can cause a spike in the demand for coins in the near future as citizens look for the best way to preserve their wealth. Negative interest rates like we have seen in Europe and Japan also, actively corrode savers’ wealth because people are actually paying a percentage of their savings to the central bank to hold their cash, in addition to losing out to inflation at the same time.
Sweden has taken the boldest step yet in all of continental Europe to legalize cryptocurrency. The country legalized the use of BTC and other cryptocurrencies as a means of payment by official public declaration. It is however expected that exchanges should file for a license in accordance with AML/CTF and KYC regulations.
Sweden is also home to a number of cryptocurrency startups such as the Safello Bitcoin exchange, and Stockholm-based KnCMiner. The gradually increasing trading volume of cryptocurrency has been a good indicator of the country’s appreciating demand for cryptocurrencies. “ “Country-by-Country Cryptocurrency Adoption
The Netherlands
The Netherlands is quite fascinating in its own right. How can a country not be referred to as Bitcoin-friendly when it can boast about having its own “Bitcoin City”? There are over 100 merchants that sell goods that can be purchased with cryptocurrency in Bitcoin City.
There are no regulations restricting the use of BTC in the Netherlands under the Act on Financial Supervision of the Netherlands. This explains why a lot of startups, BTC ATMs, and even a Bitcoin Embassy can be found in the heart of Amsterdam (the capital of Netherlands).
The friendly climate for cryptocurrency has led to a lot of very active bitcoin communities across the nation hosting regular meetups and other events. The country’s banking sector has been looking to incorporate BTC and blockchain to reduce costs and improve banking technology. The Netherlands is also a popular location for many important bitcoin conferences and bitcoin companies such as BitPay.
The Netherlands is increasingly becoming a prominent place for ICOs and blockchain related businesses to base their operations. “ “Country-by-Country Cryptocurrency Adoption
Finland
Well-known as the home of Nokia, Finland has constantly been at the forefront of technological innovation, just like its other Scandinavian neighbors. The Finnish Central Board of Taxes (CBT) has even gone as far as classifying bitcoin as a financial service, exempting it and cryptocurrency purchases from the VAT. What more could be better for Bitcoin?
Finland also boasts a significant number of BTC ATMs despite its small population. The capital of Helsinki alone is reported to have 10 ATMs for BTC. The country is also home to top exchanges such as FinCCX and Bittiraha.fi. As of January 2016, the most expensive bitcoin sale took place in Finland. It involved the sale of a Tesla Model S worth over €140,000 at Auto-Outlet Helsinki Oy.
Canada
Canada is home to a variety of bitcoin startups and ATMs. It is considered to be more favorable toward cryptocurrencies than the USA. The country has two cities on its eastern and western coasts, Toronto and Vancouver, that are recognized as “Bitcoin hubs”.
Canada has a vibrant cryptocurrency community and is home to startups such as Decentral, the Vanbex Group and a large number of merchants who accept cryptocurrencies as payment. Vancouver is known to have over 20 ATMs while Toronto is well-known for holding large cryptocurrency conferences.
There has been constant growth in cryptocurrency trading volume in the country. Canada might be the best location in North America to base an ICO or operate a blockchain business due to its supportive regulatory environment and a rich ecosystem for cryptocurrency, with human talent, ATMs and other tools, etc. “ “Country-by-Country Cryptocurrency Adoption
United Kingdom
The UK is one of the absolute top financial hubs in the world. It is also a center of innovation. There are a large number of bitcoin and blockchain related startups, BTMs and active communities. All of the previously listed crypto-friendly features make the UK a very desirable environment for bitcoin. The UK has identified the inevitable need for a new payment solution and is gradually bracing itself for a widespread adoption of cryptocurrency in the future. There are even a few local pubs that accept BTC as a means of payment.
It is also interesting to note that the Bank of England has been closely monitoring bitcoin technology and has requested ideas from citizens on the improvement of its monetary system. Bitcoin is presently seen as “private money” where VAT is imposed from suppliers of goods and services that accept cryptocurrency as payment. Profits and losses incurred from cryptocurrency trading are also subject to capital gains tax, just as in the US.
In the UK, it has become increasingly clear that BTC can be part of a bigger story, and the trading volume indicates steady growth. There are not clear laws against cryptocurrencies at the present time. But the lack of regulatory momentum suggests we may see more positive developments soon. One thing to keep in mind, while the Brexit is still in progress, the British government may be more likely to legislate on non-core issues. “ “Country-by-Country Cryptocurrency Adoption
Australia
The major banks in Australia have been quite hostile toward bitcoin, but at least the country has removed the burden of “double taxation” on cryptocurrency. This was good news to the local business community because blockchain startups had begun to leave the country as a direct result of unfavorable taxation and closure of bank accounts.
The use of BTC still remains unregulated, there is no law or regulation restricting the use of cryptocurrencies by Australian citizens. Cryptocurrencies are regarded as a form of property in Australia, and purchases with BTC, for example, are referred to as “barter”.
The Australian Securities Exchange (ASX), you will remember, is transitioning its CHESS verification system to a blockchain solution that should go live at the beginning of 2019. Cryptocurrencies in Australia are seen a lot like they are in the US. Topics like the imposition of capital gains tax, concern about securities law, the legal debate about using cryptocurrency as payment for goods and services, etc., are all problematic for regulators. While the general population is quite comfortable and supportive of cryptocurrencies and blockchain solutions, at the present it is not a high priority for the government to legislate or regulate. “ “Taxation and Cryptocurrency
Tax is of course one of the most important factors in financial matters on both a personal and corporate level. Taxes greatly influence investment decisions and returns, regardless of industry or size. It is one of the first things every individual or group considers before investing. Notably, in Australia and the USA, cryptocurrency gains are treated as capital gains and taxed at up to 50% of the return.
Some countries have low cryptocurrency taxes specifically to encourage the blockchain industry. By offering a more competitive tax rate, countries are implicitly supporting cryptocurrency and actively trying to offer a better return profile than other countries. We will discuss the different taxation regimes in a wide range of countries so you can ascertain the financial advantages and disadvantages of a variety of locations.
Belarus
Belarus charges 0% in taxation until 2023. That exemption is specifically for cryptocurrency exchanges and transactions. This has been done to help Belarus build a special economic zone, referred to as ‘HTP Belarus’. Their goal is to have an economic zone strong enough to compete with the likes of Silicon Valley.
The government of Belarus has also declared smart contracts as legal documents. Anyone looking to set up a blockchain company or a cryptocurrency startup should seriously consider Belarus. It has a supportive regulatory and legal environment which actively encourages the blockchain industry and does not impose punitive taxes upon those inside the industry.
“ “Taxation and Cryptocurrency
Portugal
Any and all personal income received from cryptocurrency transactions is tax-free in Portugal at the present moment. Income from cryptocurrency trading is categorized as something legally different from traditional income or capital gains.
The Portuguese government stated clearly that any kind of sale of cryptocurrency does not fall under capital income or capital gain. If an individual is however found to be carrying out professional activity, or any business activity related to cryptocurrencies, that is a different matter and such income will be subject to taxation.
From a personal perspective, Portugal is one of the leading countries where an individual can carry out their cryptocurrency transactions and enjoy a decent standard of living in the same country too. However, for ICO and Blockchain businesses it is not recommended to base your operations in Portugal.
China
China is famous the world over for being home to some of the largest cryptocurrency mines and many active cryptocurrency investors; yet at the same time China makes it illegal to conduct any cryptocurrency related business or investment.
But China still has an especially attractive environment for investors. Hong Kong runs on a policy of zero VAT or capital gains tax so it is easy to recommend you base your business there. Hong Kong also stands out as a major financial hub in the heart of Asia. “ “Taxation and Cryptocurrency
Netherlands
Actually, Netherlands was the first country to make use of a non-zero tax rate policy for cryptocurrencies. So, it may seem reasonable to expect a discouraging tax situation. But the fact is, Netherland’s tax policy is rather advantageous for cryptocurrency. They have a very simple, low-tax regime.
Cryptocurrency assets need to be declared with the total assets owned by an individual at the beginning of the year to assess their value. Cryptocurrency gains will be taxed at the highest tax bracket for capital income of just around 5%. The Netherlands is strongly recommended as a good country to work and live in, from both a personal and corporate perspective.
Germany
Germany is the economic center of the EU. This makes it a great place to start a cryptocurrency or blockchain company. Financial technology has been thriving there for more than ten years, and Germany has favorable cryptocurrency laws too.
Bitcoin and cryptocurrency assets have a 0% tax when used in making payments due to no VAT levied for making payments with BTC, because there is no “value added” through cryptocurrency as a fiscal product.
Germany offers a moderately compelling case for both blockchain business and individuals. While the tax rate on income at the company level is not competitive, the ability to pay for services in crypto as well as hold cryptocurrency assets and sell them at zero percent taxation rate is compelling. “ “Where to Base Your ICO
Let’s talk about the countries that are most accommodating with regard ICOs. Start-up ICO companies, like any company, essentially require three key principles for operation. The first is a sound legal and regulatory framework wherein the rule of law is preserved and business encouraged. The second is the ability to hire or acquire talented individuals to work at the firm. The third and final is the tax system and access to associated financial systems in order to allow the enterprise to succeed.
Estonia
This country is, perhaps surprisingly, widely referred to as the most digital society in the world. Estonians are known to be pathfinders deeply involved in setting up an efficient, secure, and transparent internet ecosystem.
The country ranks first when it comes to the number of ICOs per inhabitant. It has an incredibly supportive tax regime, actually among the most competitive in the world, as well as a deep pool of talent across all areas of the digital spectrum. Estonia offers possibly the most supportive and friendly regulatory and legal framework in the world for an ICO. This, in combination with a zero percent tax rate at both a personal and corporate level, combine to make Estonia one of the single most appealing locations from which you can launch and operate your ICO. “ “Where to Base Your ICO
Singapore
Singapore is another important regional hub in Asia for its strong rule of law as well as low taxation. The country offers one of the highest standards of living in the world. It is centrally located in the heart of Asia, so it easy to travel and recruit talent from surrounding countries. At the present there are not any specific regulations targeting the blockchain industry, but it is one of the world’s largest countries by funds raised for ICOs. It has a competitive tax regime in combination with strict AML and KYC. All of these factors make Singapore Asia’s leading location to launch and base an ICO.
The regulatory situation around the world may seem rather complicated. That is because it is. Laws and regulations are changing rapidly all over the world. And the regulatory framework is the most significant point of concern for a startup ICO. You should carefully study not only the current regulations surrounding your particular venture and how its tokenomics affects its classification, but you also need a reasonable sense of where the country is likely to be six months or a year later. Ideally you would base your ICO in a country that is supportive now, and all timeframes into the future with a competitive and legally sound tax system.
Where to Base Your ICO
Slovenia
Slovenia has recently transformed itself into the leading destination for blockchain technology in Europe. The government of Slovenia has placed a strong emphasis on the study of blockchain technology in public administration, and there has been an amazing success rate for ICOs in Slovenia. While the Slovenian government is a leader in terms of adopting cryptocurrencies, its rate of taxation is still considered quite high at 19%, even though that is still lower than other European countries. ICOs are considered to be normal business activities where you are taxed based on the funds received from an ICO less the expenses of doing business.
Switzerland
Switzerland is trying to remain relevant for the blockchain industry and for ICOs. The Swiss finance ministry is actively trying to attract investors to the country. Switzerland is considered a very important crypto location due to fact it was home to four of the largest ICOs in the world. The country is also very attractive to investors because of its friendly regulations and digital expertise. The taxation and regulatory environment is extremely secure and positive towards the cryptocurrency and blockchain industry in general.
Are there successful ICOs that have originated from the specific countries considered? Read the full article to get the answer! UBAI.co
Learn more about our STO and ICO marketing services right now! Contact me via LinkedIn: LinkedIn
submitted by UBAI_UNIVERSITY to u/UBAI_UNIVERSITY [link] [comments]

Cool news! We reached 100 Bitcoin ATMs worldwide.

Number of Bitcoin machines increases quite fast nowadays. We reached the first milestone of 100 ATMs installed (at least the ones which I found on internet). And this is all in less than 8 months, assuming the first one was installed in the end of October 2013 in Vancouver. Btw looks like Vancouver is the city with most Bitcoin ATM installations as of today. Hope other cities will take this as an example.
Bitcoin ATM locations could be checked on the map. Also there are nice charts about the growth rate of Bitcoin ATM installations per different vendors.
Hope the site would be useful for tracking the locations of Bitcoin ATMs. Any feedback and new locations messages would be really appreciated!
submitted by CoinATMRadar to Bitcoin [link] [comments]

Bitcoin ATM Global Market Overview

Bitcoin ATM Global Market Overview
Bitcoin ATM Global Market Overview
By DOBI ATM

The BitLicense aroused a big buzz when the a big ATM operator Coinsource announced its granting of BitLicnese, a virtual currency trading license for cryptocurrency trading service; As reported from Cointelegraph, it took 3 years to be granted since the first application to New York Financial Securities(NYFS).
This obviously indicates the advancing development of Bitcoin ATM industry since the first Bitcoin ATM came out in Vancouver, Canada on 29th October 2013.

Overall Global Data

After about 5 years development, bitcoin ATM industry sees increase in market capital and maturity.
Bearish Bitcoin price meet downturn though, Bitcoin ATM is growing continuously in installation, capital, distribution and the manufacturer.
The latest statistic from CoinatmRadar( the biggest bitcoin ATM data research institution) reported that there are 3949 bitcoin ATMs in total worldwide until Nov. 05, 2018. Although increasing speed declines with the sluggish bitcion market, we can still see 1849 ATMs increased with 89% growth rate from 2079 ATMs to 3927 in 2018. Now, the crypto ATMs installation speed rises to 6 machine per day. It’s estimated to reach a figure of $16.3 million of market capital in 2018

https://preview.redd.it/drmennyhpow11.png?width=660&format=png&auto=webp&s=4187176abc3f5d892911085a894fb5cc40d089c7

Industry:Continuous Increase in installation, profit, manufacturers

Distribution of bitcoin ATMs across Continents:


The wide awareness of bitcoin and cryptocurrency promote the bitcoin ATM adoption cross the world.
It’s no strange that North America and Europe share the large percentage since the economic and population provide the best environment for the use of bitcoin ATM by the majority.

https://preview.redd.it/3vu1hoyipow11.png?width=648&format=png&auto=webp&s=d0bc39d87d17032f5f7fd3e16ed46e0320d2788b
A study conducted by MarketsandMarkets reported that the Bitcoin ATM market will see annual growth of 54% between 2018 to 2023, when the whole industry is forecast to reach $145 million.

Incredibly Increasing High Profit When Emerging Market’s Struggling

In bitcoin ATM, the profit is mainly from transaction fee with an average of 7%-10% both in buy side and sell side. It’s reported a bitcoin ATM machine comes with $10k to $30k transaction a month with the highest reaching to $100k. The average transaction is 130 times per machine per month. Coindesk even reported Lamassu's survey of $1,000–$3,000 each month earning which equates to annual earnings for ATM operators of between $12,000 and $36,000 per unit.

Increasing Bitcoin ATM Manufacrture:

The growing awareness of bitcoin also attracted many investors into Bitcoin ATM business. The biggest bitcoin ATM tracking Radar coinatmRadar reveals 42 typical bitcoin ATM manufacturers and 31 Bitcoin ATM service operators globally. DOBI ATM, as the biggest bitcoin ATM manufacuter in Chinawas also listed.
It’s a newly but of great potential to in digital currency payment solution.
It’s obviously seen from the market share below that Genesis Coin, General Bytes, Lamassu, BitAccess and Coinsource dominant the industry, though. Some newly manufacturer startups also see great potential.

https://preview.redd.it/uhxd302kpow11.png?width=525&format=png&auto=webp&s=687460579650812e21808a736231931baf193855
DOBI ATM as highly potential newcomers is striving to provide everyone easy access to buy ans sell bitcoin in hardware solution and software development.
Supported by the a capital group , Currently there’s over 200 business-to-business operators worldwide and now is the biggest Bitcion ATM manufacurer in China

Ending

Seeing from the whole cryptocurrency industry chain, there are mining, digital currency exchange, crypto wallet, media and services field, token release company and payment field. Cryptocurrency exchange functions most important for its huge power in liquidity and profitability.
There’s no doubt the blockchain technology will overturn the whole world revelutionary after 10 year’s development since the release of Bitcoin Whitepaper by Satoshi Nakamoto.; And no one would suspect the financial role cryptocurrency is playing, especially in payment field.
Bitcoin ATM can both work as an alternative for exchange and payment solution for daily life. It surely see great market confidence.
DOBI ATM still holds that only project with practical solution in real world that survives at last.
Bitcoin ATM just helps the adoption of wide use of bitcoin in daily payment among the ordinary.
Let’s witness how the cryptocurrency and bitcoin ATM industry expand.
submitted by DOBI-ATM to DOBIATM [link] [comments]

Another Beginners Bitcoin Experience

Hey guys,I just wanted to share my venture into Bitcoin because, as I know from experience, I really found reading about the actual experiences of others helpful. There is an absolute wealth of information in these online Bitcoin communities that can be very technical and confusing to a beginner.
I've chosen to use both Blockchain and Electrum as my wallets.
Blockchain, since it is purely an online wallet, I use to hold a small amount of my BTC. I find it convenient to use for transactions and quick transfers since I can use it on my iPhone, Android tablet and PC. However I don't hold all of my BTC in there because from my understanding, it is at some level of risk to be lost or stolen by both outside attackers and the insiders of the website. I think of it as my 'checking' account.
Electrum is what I use as my 'savings' account since it has many more options built into it. Rather than your BTC living on a remote server, they live on your local device's HDD. Your private keys are NOT shared with any remote servers (like they are with Blockchain) and the private key store on your device is encrypted. Also, when generating a wallet with a device connected to the internet, it creates a 'seed' (essentially a 128bit string of random words) that you can use to recover your wallet should your HDD corrupt. Additionally, for added security, you can create your wallet on an OFFLINE device which allows you to then take your private keys and store them on the media of your choosing (USB stick, external HDD, etc). This is beneficial as your private keys are never exposed to an online attack (just make sure you store that USB drive in a safe place!). Electrum is not available on iOS.
As for actually purchasing BTC, I am fortunate enough to live in Vancouver which is home to the world's first ATM. If anyone, locals or otherwise, want to know more about it or how to use it, feel free to leave a comment or PM. At a high level, it creates a personal account for you and authenticates using your palm print. You then have the option to purchase or sell BTC. To purchase, you select the dollar amount first. Then it gives you an option to either let it automatically create a paper wallet for you on the spot (so you don't even have to use either of what i have listed above) or you can scan in the public QR code of your own wallet and have the money transferred directly in. Now when you scan the QR code (on this machine or any other device that is transferring you funds) it will display your wallet's public key. I've gotten in the habit of validating that the first and last 4 characters of my key match up, to make sure my Bitcoins are going to the right place! Based on some simple math, I've found that this machine charges a ~3% commission above the market rate.
As for online exchanges, unfortunately I don't have much advice in that area since I have yet to use one and the best one for you may depend on the country you live in. However, if I ever need to use an online exchange I would sign up with CAVirtex and/or Bitstamp.
Anyways, to wrap this up I hope that even one person found this helpful. And if anyone would like to correct or expand upon anything I've said above, PLEASE DO! I'm happy to be a part of this community and will share any future learnings. I've actually met a few real-life Bitcoin'ers at the coffee shop hosting the ATM (including the owner of the ATM itself!) and all were very friendly and eager to share information. Here's hoping BTC is here to stay!
submitted by mp_bitcoin to Bitcoin [link] [comments]

Has there ever been something as international as BTC that had a meteoric rise followed by a huge crash?

Bitcoin often gets labeled as Tulip Mania 2.0, but the Tulip mania was almost solely in Netherlands, or at most Europe. Beanie Babies, while a ludicrous comparison, was mostly confined to America. Dot.Com bubble was centered in America, and at most first world countries since it had world-wide investors.
However, has there ever been a "bubble" on something this international?
The majority of money in Bitcoin right now is CNY (thegenesisblock.com/wp-content/uploads/2013/11/currency-distribution.png).
The fastest growth in the third quarter was Brazil. (http://www.reddit.com/Bitcoin/comments/1p6y5a/brazil_the_country_with_the_highest_growth_rate/)
America is #1 for Bitcoin nodes, followed by China, then Germany.
Bitcoin has pretty wide adoption in Canada; Vancouver has the only--one other might have opened in Texas but can't remember--brick and mortar shop to buy Bitcoin, plus the Bitcoin ATM.
Russia is one of the mining centers of the world.
Is their an apt comparison for something that has gained such worldwide adoption--and we still have a long way to go--that has then collapsed?
submitted by wudaokor to Bitcoin [link] [comments]

Bitcoin: A BIT of a problem

My name is Joe Average. I am the 80% of people who found out about bitcoin. I found out last week that an ATM for a new type of special currency is being released in my hometown, Vancouver BC Canada. Like many others, I'm still clueless about bitcoin, despite spending my halloween weekend researching it, trying to find out whether it's a trick or a treat (sorry I had to).
In this post, I'll list what I know about it, then list the thoughts, problems, and barriers that I, and probably 80% of the population, feel about bitcoin. These things are probably most relevant to those of you bitcoin enthusiast that have a vested interest in the success of the currency/commodity, because the general public represents a population that will influence the capacity that bitcoin can have in society.
Bitcoin has many advantages. Here are the advantages that I came across in forums and news articles: -free from government influence -zero bank fees -limited resource, naturally appreciating value -relatively anonymous -intangible, convenient to carry -irreversible transactions
And here are some problems, starting from the most relevant one which probably everyone thinks of right off the bat:
1-Bitcoin or cash? Why should I bother using bitcoin? Dozens of local merchants in my area are accepting bitcoin. Wow that's great! Now I can spend 2 hours acquiring bitcoin from a private, ungoverned, unregulated exchange (more on that later) and buy a medium belgium hot chocolate from waves (great drink by the way). Paying with card or cash? No ma'am, I'm paying with BITCOIN big teethy smile, eyebrows up and down several times Ok, bust out the ipad or whatever, spend 15 minutes waiting for the cashier to grab her ipad, unlock the screen, get a network connection at coffee shop network speeds, tap the bitpay app or w/e, load the app, scan my qr code, wait for the transaction to verify, blah blah blah, meanwhile, big ass line up forms behind me and I'm the big asshole who decided to pay with bitcoin instead of cash.
Okay, in all fairness, I'm probably being ignorant to some bitcoin app out there that cuts this whole process down from 15 minutes to just 5 minutes, the time it takes to verify transactions. But if I have to use an app, that probably costs money. So now my $4.50 dark belgium hot chocolate now costs $4.65 + 5 minutes of my life.
Hmm maybe I'll just 1) whip out some cash 2) whip out my visa card and pay it off right away so I don't incur interest fees 3) pay for it with debit, my bank doesn't charge me debit fees for using my card
2-Sending bitcoin So let's say what appeals to me is that bitcoin replaces Western Union, bank transfers, etcetc. I want to send $4,000 to Alice and Bob of ABC Co., payment for their work as hypothetical people in every accounting example I've ever read. For that amount, I'd have to pay >$100 in service fees from a money company. Or I could save myself >$100 by using bitcoin instead.
Okay great! Where do I start? Download a wallet. Done, nice. Next step, synchonize 208 weeks of ledger. Great.. oh, hang on. It's been 4 hours and I've downloaded 3 weeks. What the fuck?! How long does this take.. it doesn't even tell me how long it will take or how big the file is! computer left running overnight Awesome, just 2 more nights to go then I'll be fully syncrhonized. 2 days later hard-drive is maxed out? I needed a new one anyways. 4 days and a 500GB SSD later Now I have my wallet ready to use. Time to purchase some bitcoin!
So I purchase bitcoin, send it to Bob and Alice, and since they own ABC Co., a massive enterprise, they employ an IT guy, and he is the only guy in the company who will ever understand how to securely use bitcoin. He's behind 2 juniper firewalls (for redundancy), we VPN tunnel'd the payment code over with the pass, that way I know it went to him and nothing's been compromised. Because once the funds are sent out, it's gone, there is no insurance. Which brings me to my next point:
Bottom line: requires a lot of time to SAFELY and SECURELY send bitcoin, FEE-FREE. But that's okay because I have nothing better to do. If I had kids, errands, work, non-IT hobbies to do, $40-$100 might be worth the time it takes me to research the process of sending bitcoin out properly.
3-Bitcoin wallet services There's a whole list of companies emerging to take podium position in the race of the bitcoin wallet services world. Besides setting up a bitcoin exchange (which anyone can do in their basement), bitcoin wallets are the next biggest thing in bitcoin.
In the digital world, about 3 companies take podium position in a certain thing. Like Android/Apple/Blackberry for cell phones, Windows/Apple/Linux, Chrome/Firefox/IE, etc etc. Right now, for digital bitcoin wallets, everyone's competing to be one of those 3 major companies that everyone will use. Companies like coinbase.
These companies cost money. Coinbase has a pretty impressive talent pool. Let me introduce them to you:
Barry Kwok- Holy shit, this guy has a Masters in Engineering?! No seriously, this guy is a master of engineering. He built teams of 5 to 50 people at Google (fucking google man!). This guy is the first guy on the list, how much does he make? I'd have to guess $120k
Craig Hammell- This guy built OK Cupid. I know a guy who uses that shit to get laid, it really works, so OK cupid is probably a well-established company. Because of Craig's success with OK cupid, and the fact he looks that young, I'd say he probably doesn't make that much, just a modest $90k
Olaf Carlson-Wee- Olaf does rock-climbing, enough said. $95k
Fred Erhsam- Traded at Goldman Sachs. $150k
Charlie Lee- Invented Litecoin, worked on google chrome, google play, and youtube. $120k
Brian Armstrong- This guy has experience with Fraud Prevention. Don't know why they hired him, because as everyone's been saying, you can't fraud bitcoin. Since they don't need him, he's probably an intern.
Let's run some quick numbers: Total cost of salaries: $575,000/year Other expenses including dividends to investors: $3m/year
So this company has $3.6m a year to allocate to their consumer base of 329k of wallets, and 12k merchants. That is roughly $10.56/year per wallet or merchant. (realistically, the portion of cost between wallets and merchants would be not be split equally, and of course all these figures are pulled straight from thin air, however, this is reddit, not forbes).
That is a very low amount compared to using VISA which costs merchants $0.25/transaction+monthly service fee. As we can see, bitcoin is a great! Save some money.
But here's the problem: people fraud banks all the time. That costs money. Somebody puts $10k in their digital wallet, loses it, they're going to be pissed off. They'll start demanding it back from coinbase. The day coinbase pays 1 guy $10k compensation, the day they'll have to pay everyone that loses money like that, and that $3-mil figure I gave above will be much higher, and the fees everyone has to pay will go up. If coinbase doesn't compensate, then people will be reluctant to use bitcoin for anything other than small transactions.
This means bitcoin will not have the capacity to be adopted by regular people, like me. Either I lose big chunks of money at a time, when my digital wallet gets hacked, goes missing, frauded, etc, or I lose it in smaller chunks and frequency which is similar to a bank.
So digital wallet services are just like banks. Wait, I thought the bitcoin guys were saying banks were a bad thing?
4-Inflation vs Deflation I see a lot of bitcoin enthusiasts talking economics, which really angers me. You should read some of the things they say "inflation is bad, bitcoin actually deflates, so its good" "the government can't fuck with bitcoin, so its good" "bitcoin good, so it's good". If you're a bitcoin enthusiast and discussed bitcoin economics, you probably need to trade your internet credit for some college credits. Because seriously, that is some retarded shit. For example:
Inflation is bad, bitcoin deflates = good / The gov't can't fuck with bitcoin so it's good No. Inflation is good, yes I said it and you can quote me on that. Inflation allows job creation through lowering interest rates which encourages people and businesses to buy things. When stuff is bought, things happen. And jobs are required to make things happen. So when the government sees that "hey, our economy ain't doin too well, how bout we print some of ye ol' fashioned paper dolla bills" that's a strategic move to lower the unemployment rate and increase GDP.
The US is in shambles right now for reasons beyond inflation. The #1 reason why is labour costs too much in the US. Shaquila and Billy Bob don't want to work in a factory for $12/hr, they're too in love with hollywood and liberty, thinking they're entitled to a high paying comfortable job. Half of America thinks like that. But guess what, the Chinese don't, they're happy to pick up where Shaquila and Billy Bob left off. And because of the economies of scale thanks to their large population, that ignited over night, and now the US is left with a population that doesn't want to work. There's also a bunch of other reasons like going to war, etc, but that's debatable because there's a cost/benefit of going to war (own all the oil rigs out east to pay for things because you lazy fucks can't be bothered to make money with elbow grease).
The point is, mind fuck #1, inflation is a solution to a problem that's not related to money.
On the other side of the coin, deflation IS a bad thing.
Deflation, which bitcoin is designed to do, means that there will be fewer amounts of money to spend over time. That increases the price of things. That's good for people who are holding on to bitcoin. This encourages people to spend with bitcoin less, and save more. Mind fuck #2, saving money is bad, because it reduces GDP. It reduces the need for companies like coinbase to develop and create a product for spending bitcoin in the first place. So the more bitcoin deflates, the more its value goes up, the less people spend bitcoin on shit, the less merchants see a point in accepting bitcoin, the less merchants use bitcoin, the less people buy bitcoin, then bitcoins value goes down.
5-Limited supply of bitcoins This title should read Diminishing supply of bitcoins, but it would then be misinterpreted without an explanation. Bitcoins don't diminish, they are simply unaccounted for. Meaning, if you have bitcoins, and forget the password, it is gone forever. And in case you didn't know, people are human, making them prone to mistakes. Forgetting, etc. So, over time, enough people will lose bits and pieces of bitcoin here and there. That's going to add up over the long run. Units of measure will start going to miliBits, Microbits, ultra micro bits, ultra ultra micro bits. etc. Kind of like fiat currency, it can inflate to be infinitely large, and with bitcoin, infinitely smaller.
6-Exchanges and trading When Silk Road went down, bitcoin went up. First, naturally and by way of economics, fewer bitcoin = increased value. The Silk Road guy had $26-million USD worth of bitcoin, more than enough bitcoin to raise the market price. Followed by that, we have news, and hype, which drove higher. Then the fact prices are going up, makes a nice news article, which drives it up even more. When prices went up because of the news, incentive went up. Now the prices are so high, some people have made fortunes off of it. And that makes the news too, which drives it up again even higher.
That's a great incentive if you're a bitcoin investor. Hey, the winklevoss twins have 1% of bitcoin, all you miners go use your mining pools to break into the winklevoss account and delete the fuck out of their bitcoin wallets and backup, so you can raise the market value.
Just kidding. That's a lot of work. You know what's easier? This:
1) Start your own bitcoin exchange, no fees 100% free. 2) People will start trading on it. 3) ???? 4) Profit!
Actually step 3 isn't a mystery, you set the fucking price level to whatever you want it to be. And because it's 100% unregulated, unsanctioned, not tied to any commodities, no authority, no referee, no consortium, you can do whatever the fuck you want on it.
Without authority, believing that the prices on the bitcoin exchange is set naturally by way of price and demand is like believing in religion. You just have to believe.
Of course with public exchanges, there is some level of corruption involved, but that's why people get arrested and shit. Using bitcoin exchanges doesn't have that level of protection, and it never will. You think the governments own law enforcement is going to go after guys corrupting a private stock exchange, which trades a currency that negatively impacts their own fiat currency? Unless the government is somehow benefiting from bitcoin, which it won't by design, the police will simply have a good laugh at that.
In conclusion, there's so many flaws that I can see with bitcoin. But bitcoin enthusiasts will say otherwise. If I jumped on the bitcoin train 3 years ago, I'd probably do the same thing as you: make up some backwards economic reasoning it'll succeed, some backward political reason, etc.
So Dear Bitcoin, you just don't make enough sense to us, the general population, for us to adopt you. A great substitute for currency in the underground world, but you just don't fit with us here on the mainstream. And if you did fit, you'll end up being regulated just like currency, so what's the point? You're the same shit as my cash or cards. Fuck off. -Joe Average
submitted by smoothboi69 to Bitcoin [link] [comments]

BITCOIN TRANSCENDS NOVELTY STATUS - pretty good basic article about where Bitcoin is from the POV of a mainstream investment advisor.

This is from an awesome investment newsletter that can be seen at consensus-inc.com (it is in the payed section so I can't link it here. Instead, I copied and pasted the entire article below)
BITCOIN TRANSCENDS NOVELTY STATUS
Prepared by Andy Waldock
(November 13, 2013) The United States has tripled its balance sheet since 2008 and Great Britain has quadrupled theirs in the same timeframe. Theoretically, the growth in the currency base should be accompanied by a corresponding decrease in the purchasing power of our Dollars and Pounds. Many of us who've worked diligently for years trying to manage our personal budgets and build up our personal stores of wealth find the governments' actions downright criminal. This is the scenario that's drawn billions into the gold market. We've been taught that gold is the first choice alternative investment for fighting inflation and maintaining the value of our savings. This week, we revisit an alternative to gold as a hedge against inflation and currency debasement: the Bitcoin.
I published a piece on the Bitcoin in June of 2011 titled, "The World's Strongest Currency." Many viewed this as a passing novelty at best or, the next .com bubble. At worst, people saw it as the international street criminals' Swiss bank accounts. Bitcoin is an Internet currency that is traded globally for goods and services and can be cashed out in the physical currency of your choice. It is, "mined" on individual computers that are placed, by anyone, on the network. The mining is basically using your computer to solve an equation. The equations get harder and harder through time. This ensures that the supply of Bitcoins grows at a stable rate. The publicly validated equations place more Bitcoins into circulation by the people who've mined them. The number of Bitcoins currently stands near 12 million. The next equation and number of coins in circulation are all publicly available in real time.
When we published the first piece in June of 2011, Bitcoins were trading near $14 per Bitcoin with 6.6 million Bitcoins in circulation for a market cap around $92 million. The Bitcoin mining equation is public information. It's always known how many are in circulation as well as the growth rate. Furthermore, the total number of Bitcoins will be limited to 21 million by the equation itself. These are the currency controls lacking in today's global economy. The proof lies in the adoption and acceptance rate of Bitcoins, which is growing exponentially. The current Bitcoin market is 12 million Bitcoins at $400 each for a market capitalization of $4,800,000,000. This places it between Exxon Mobil and Apple in market value.
This leads to the .com bubble argument. There's no question this market is extremely volatile. Let's put the volatility in context before Bitcoin is dismissed and demonstrate why it isn't a fad. The S&P 500 declined by more than 50% in four months during the housing crash and has more than doubled, reaching all time highs since. The European Central Bank just cut their interest rates in half and gold is nearly 40% off of its highs. The world we live in is a volatile place. I'd argue that we haven't seen this much change in the political/economic/social aspects of this world since World War 2. I'd argue further that it is precisely this volatility that has made Bitcoin a globally accepted alternative form of payment at both the retail and business-to-business levels.
Bitcoin has clearly passed the novelty stage. EBay as well as Amazon accept them. They're even beginning to show up as an ATM. The first ever Bitcoin ATM was recently installed in Vancouver and it processed more than $100,000 in transactions in its first week. This is no ordinary ATM. There are financial controls on Bitcoin just like normal currencies. In Canada for instance, they are only allowed to exchange $3,000 per day without filing anti-money laundering documents. I recently visited Mt. Gox.com, the leading Bitcoin exchange and found their registration requirements to be every bit as stringent as the ones we face in the commodity futures markets. This degree of regulation continues to add validity to the Bitcoin system rather than hindering its growth.
We live in a world of fiat currencies subject to monetary adjustments or downright manipulations that many of us have no say in. Frequently, the decisions that are made for us negatively impact the very foundation that we've worked so hard to build. Bitcoin is a known quantity in a world full of unknowns. It travels globally without the processing fees of PayPal, Western Union or the banking industries. In fact, the current banking systems' loss of processing fees is both a boon to Bitcoin business as well as the reason for the most vocal arguments against it. After all, JP Morgan has to recoup the $8 billion they've received in regulatory fines over the last two years somehow, right?
November 13, 2013 Andy Waldock Commodity & Derivative Advisors, LLC P.O. Box 484 Sandusky OH 419-624-0777 commodityandderivaiveadv.com
submitted by NotTheDude to Bitcoin [link] [comments]

Feathercoin ATM demonstration Bitcoin ATM in Vancouver ATM Bitcoin Machine - Lamassu BITCOIN ATM OPENS IN HONG KONG - Get your Bitcoin in cash: World's second Bitcoin ATM Europe's 'first' Bitcoin cash machine unveiled

The map is provided by Google and shows the exact locations of the closest Bitcoin ATM’s to you. About Bitcoin ATM’s. Bitcoin is a growing digital currency and the interest around it is getting bigger and bigger, the bitcoin machine helps users and investors buy and sell cryptocurrency and exchange it with cash, you can use the ATM for bitcoins to get your own now. An ATM that converts bitcoins to Canadian dollars and vice versa opened for business in a Vancouver coffee shop today, marking a world first. The kiosk, located inside Waves Coffee House at Howe ... Bitcoin ATMs — Why Vancouver doesn't want them. Bitcoin ATMs are proliferating, like rabbits. There are now 5,000 of them around the globe. Vancouver, a city that has already felt the sting of failed crypto exchange QuadrigaCX, wants nothing to do with them. June 14, 2019 by Amy Castor. Business is booming for Bitcoin ATMs. The standalone machines, which allow almost anyone to buy bitcoin ... Bitcoin ATM – Atm in North Vancouver, BC – 93 Lonsdale Avenue, North Vancouver, British Columbia. Read verified and trustworthy customer reviews for Bitcoin ATM or write your own review. Contact Info. Categories: ATM Machines in North Vancouver, ATM Machines in British Columbia: Province: British Columbia : City: North Vancouver, BC : Postal code: V7M 2E5 : Address: 93 Lonsdale Avenue ... John Russell, co-founder of Robocoin, works out the kinks of what is being billed as the world's first Bitcoin ATM at a coffee shop in Vancouver, Tuesday, Oct. 29, 2013.

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Feathercoin ATM demonstration

Robocoin's first Bitcoin ATM launched in Vancouver in October, and after a month of operation, transactions have totaled 1 million Canadian Dollars ($942,000) in total transactions, according to ... A Swedish company has launched what it claims is Europe's first Bitcoin ATM. The machine allows people to exchange cash in their country's currency to Bitcoins on their mobile wallet. BITCOIN ATM Makes BUYING and SELLING BITCOIN SIMPLE Manufacturer Lamassu is ending 2013 on a high. The company has just announced the sale of its 100th bitcoin ATM, and more than 120 orders. Using the new Bitcoin ATM in Waves Coffee Vancouver - Duration: 1:19. radioimaging 80,002 views. 1:19 . World's first ever Bitcoin ATM unveiled in San Diego - Duration: 1:46. ABC 10 News 31,119 ... Bitcoin Cash CEO Roger Ver Coinbase Price Prediction & BCH Giveaway ... Using the new Bitcoin ATM in Waves Coffee Vancouver - Duration: 1:19. radioimaging 80,001 views. 1:19. Toronto's first ...

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