Clif High -OMG 30,000% Gains?!-New Interview & Chats with The Bear –

By far one of my favourite human beings on the planet. This brilliant mind has always been one of my top choices to listen to and it was a pleasure to pick his brain and ask him some questions about our direction as a society. From Omisego to Neo, Populous and Veritaseum and the rest of the crypto currency sphere. The bitcoin and blockchain community at large. We end it all off with the cherry of Antarctica, new technologies and the future developments of Koz and freedom media. I hope we get to sit down and do this again soon! It was a treat and a pleasure.

These are MY ideas, and I am presenting them here for entertainment/analysis purposes ONLY, you MUST do YOUR OWN due diligence before investing in ANY CC’s or digital assets; Understand the Risks.

Rick Rule: Bitcoin to me is all positive…

San Diego, California, Nov 16th 2015: The bit coin was invented by Satoshi Nakamoto in 2008 as a digital form of money but no one truly knows who Satoshi Nakamoto is. Transactions are done through peer to peer networks without the need of a bank making it the first decentralized digital currency. This is a close up photo of several gold plated bitcoins together symbolizing the bit coin market, modern technology, finance, internet, trading, etc.

There’s no better person to give us a realistic, unbiased view of this new investing sphere than Rick Rule, the billionaire Chief Executive Officer of Sprott Global Resources. As a long-time advocate of free markets and decentralization from government control, in his recent interview with Crush The Street Rule says that with a $70 billion market cap, and perhaps more importantly the distributed ledger technology that makes it function, Bitcoin and the blockchain are here to stay.

Bitcoin to me is all positive… I’m a consumer of currencies and currencies are a medium of exchange… and the more competing currencies there are the better it is for consumers of currencies… I use U.S. dollars, I use Canadian dollars, I use gold, I use silver, and from time-to-time I use BitCoin.

The more competing currencies, the better the currency has to perform for the consumer.


If you move beyond the discussion of crypto currencies to a discussion of the distributed ledger, that the distributed ledger is perhaps finally the conjunction between information technology and the broader economy… It is the way you to take control of the ownership of assets, the transfer of assets and the title of assets from governments and deliver them back to the market… that’s truly revolutionary.

Thinking like a trader: I had this conversation with my wife last night

From a Slax chat trading group.

Thinking like a trader: I had this convesation with my wife last night. Because after making yesterdays video she was like: “hey your running out of bitcoin? But don’t you think its going to be worth 100x some day? Why would you sell so much of your BTC?” She was not thinking like a trader.. I see things differently..Heres the thing, a trader grows his account.. You cannot be only thinking in BTC (or Fiat for that matter)… Even if i run out of BTC, im not out of BTC.. Let me explain:

The response:

Lets say you had 1 BTC when it was worth $2000 fiat, and you did nothing.. well today you still only have a 1 BTC balance and its now worth $4,300 Fiat.. So lets say you sell your BTC for $4,300 USTD.. well what do you have? Your account is still worth 1 BTC (or $4,300) its the same.. In trading we can rebuy with one click, so the balances are always interchaingeable .. so your not really out of BTC.. Traders see the pair, all you are trying to do is grow your account size…But i know, It’s hard to get that simple idea straight in your head sometimes.. As an example, yesterday I was selling at 4,400 ..4,500, and then 4,700 (lets call it converting into fiat instead of selling) and today I converted Fiat back into 6 bitcoin (with a nibble) at $4,000 ish and then I sold 2 BTC at 4,350 ish (a few minutes later).. So whats my balance?? well lets just say its higher, whether you calculate that in BTC or Fiat, its much much higher than yesterday.. And what would have been my balance if i did nothing? Lower..

Just because you sell BTC doesnt mean your out of BTC, in order to trade you have to buy and sell. If you only hold, then you only grow when BTC goes up, and you cannot compound your money which Albert Einstein called the eighth wonder of the world…

Albert Einstein
“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”

Food for thought.

Please like and share.

Hackers can now mine cryptocurrency on your PC – Russian cybersecurity firm #Kaspersky

Russian cybersecurity firm Kaspersky Lab has discovered malware which hides inside a computer, mines cryptocurrency and sends it to hackers. The virus is spread through social engineering and adware.
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© Lucas Jackson

Kaspersky Lab has discovered two groups of hackers working in Russia, which have control of 5,000 and 4,000 computers. When installed on a victim’s computer, the malware starts using its hardware like graphic cards to create digital tokens.

“According to analysts, the hacker mining network brings its owners up to $30,000 per month,” the company said.

The most popular currencies are Monero and Zcash; their transactions are difficult to trace due to anonymity.

Kaspersky estimates that the network of 4,000 computers earned over $209,000 in the Monero cryptocurrency. Coinmarketcap values Monero’s market value at $1.7 billion, while Zcash is worth $503 million, making them the 9th and 18th largest digital currencies.

The malware is hard to trace for an ordinary user, who will notice the PC slowing down and heating up, but doesn’t understand why. Users usually download such adware on their own, thinking it’s free software or a key to activate licensed products.

Mining itself is not an illegal process. Moreover, a user can easily install a program and legally use it for mining cryptocurrencies. So, it makes it hard to detect whether a computer was hacked, or its owner voluntarily downloaded the software.

Users on forums have complained that criminals have been using malware to mine cryptocurrencies on victims’ computers for more than two years. They claim Kaspersky Lab reacted only now, as it wants to sell more antivirus software at the peak of popularity of digital money.


Dollar Bloodbath Continues Across Asia, Gold Tops Election-Night Spike Highs


Tyler Durden's picture

Having plunged by the most in 6 months during the US day session, the dollar is continuing to get pounded across AsiaPac with Hong Kong Dollar and Yuan surging. Gold is extending gains, breaking above the spike highs from election night…

The Dollar Index is in free fall…This is the 7th straight down day for the USD Index…


There is not much support below here…


Driven by widespread selling across Asia… The last 3 days have seen the biggest collapse in the dollar since the start of January.


With the Hong Kong Dollar exploding higher (and 12mo forwards signaling expectations of a major collapse in the US dollar, breaking the Hong Kong peg)…


Offshore Yuan is spiking higher against the dollar…


But all Asian currencies are surging against the dollar tonight…


And gold is spiking back above the election night highs…


Did President Trump’s “we don’t need no stinking debt ceiling” decision finally break the back of dollar hegemony?

Or is this the market calling The Fed’s bluff and forcing them to hike rates to defend the dollar – and by doing so losing all data-dependent credibility (whatever is left)?



US Lawmakers Seek Tax Exemption for Bitcoin Transactions Below $600

Unveiled today, the measure, if passed, would create a de minimis exemption for cryptocurrency payments below $600 after December 31 of this year. Put more simply, transactions involving a cryptocurrency below that threshold wouldn’t trigger a capital gains liability.

As the text of the bill states:

“Gross income shall not include gain from the sale or exchange of virtual currency for 5 other than cash or cash equivalents….[if the amount of gain excluded from gross income under subsection (a) with respect to a sale or exchange shall not exceed $600.”

In an interview with CoinDesk, Jerry Brito, executive director of the DC-based nonprofit Coin Center – which helped advocate for and organize the bill – compared the move to one taken previously by Congress to create an exemption for purchases made using foreign currency.

“What we have done with this bill is do something very similar, to create a de minimis exemption for small purchases.”

As for the prospects of the bill in a Congress beset by Republican infighting and looming fights over the federal government’s funding and ability to borrow, Brito struck a cautiously optimistic tone, pointing to the ongoing effort to reform the US tax system as aligning with the goals of the new bill.

“This should be unobjectionable to members of the Congress,” he said.

The full text of the bill can be found below:

CTFA by CoinDesk on Scribd

Who Owns Bitcoin?





San Diego, California, Nov 16th 2015: The bit coin was invented by Satoshi Nakamoto in 2008 as a digital form of money but no one truly knows who Satoshi Nakamoto is. Transactions are done through peer to peer networks without the need of a bank making it the first decentralized digital currency. This is a close up photo of several gold plated bitcoins together symbolizing the bit coin market, modern technology, finance, internet, trading, etc.

Financial markets are determined by supply and demand factors, as well as information on who owns an asset and who wants to buy that asset. This of course relies on market transparency, as traders and insiders watch what hedge funds and pension funds are doing with their equity holdings.

Bitcoin is obviously slightly different as the digital currency is transparent – but anonymous.

Bitcoin ownership is not transparent

While transactions and the movement of Bitcoin is open and available on the ledger, the name behind those transactions is anonymous, just a string of usually untraceable letters and numbers.

This of course makes it a bit more difficult to determine who owns Bitcoin, and where money is moving or staying, but this is seen as a positive for the digital currency.

In this digital world where cybercrime and hacking is always around the corner, those with sizeable investments in Bitcoin would prefer to remain anonymous so as to not set a target on their backs – additionally, they can spread the wealth across a number of wallets.

Bamboozling the IRS

Of course, not being able to tie mass fortunes down to certain individuals makes it frustrating for financial regulators trying to keep tabs on money for legal and illegal uses.

The IRS has had to rely on the trust of Bitcoin users in declaring taxable gains, but when in 2015 only 802 individuals claimed profits or losses in relation to Bitcoin transactions, it was clear that anonymity was being abused.

However, there are motions in play to help governmental institutions to track users and their Bitcoin, but it’s being met with resistance.

The Bitcoin rich list

The website BitcoinRichList, suggests that the top 100 Bitcoin addresses own around 17 percent of all Bitcoins.

This figure stood closer to 20 percent in August 2016, so one can assume that the ensuing 800 percent rally in prices since then has seen some larger holders taking profits amid increased and broadening participation.

Breaking the anonymity

Of course, while it’s easy to hide behind the anonymity afforded by Bitcoin, many come out and show off proudly their investments in the digital currency.

The biggest names in the business that are loud and proud are Cameron and Tyler Winklevoss, who once said they owned one percent of all Bitcoins. That would be around 1.65 mln at the current level that has been mined.

It is also believed that the mysterious creator of Bitcoin, Satoshi Nakamoto, who is rumored to have over one million coins, has spread his coins across wallets.

The other big players in Bitcoin include those involved in its creation, mining, or exchanges of the digital currency.

Names like Tony Gallippi, the Chairman of virtual currency processor Bitpay, who is said to have $20 mln invested in Bitcoin, or Dave Carlson, a software engineer who set up Bitcoin mining company MegaBigPower.


China Trolled us – To legalize ICOs?

China ICO story not over

Bitcoin has also reversed its previous losses, continuing to trade at around $4600 as of press time from lows of $4008 earlier in the week.

NEO had received mixed support following the events, with commentators eagerly awaiting reactions from developers as to how the platform would continue operating under a ban or future restrictions.

The latest information from the PBoC meanwhile suggests the story is not over for ICOs in China, and that a regulated environment could surface. This, as witnessed earlier this year, would be a similar approach to that taken by Chinese regulators to cryptocurrency exchanges.

“This current ban is a ‘stop’ but not a ‘forbidden,’” a source close to regulators told a Chinese TV station in an interview.