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For the first time ever, the price of one bitcoin has surpassed the price of one ounce of gold. While today's swap can be attributed to a good day for bitcoin (up ~3%) and a bad day for gold (down ~1.3%), the big picture is that bitcoin has more than doubled in the last year (up ~185% from a year ago) while gold is essentially trading exactly at the price it was a year ago. Even though bitcoin and gold are both thought of as alternative assets, they don't usually trade in correlation. Still, it's notable that bitcoin has (at least temporally) surpassed the price of gold. Gold is quite literally the "gold standard" of alternative assets, often used by investors to hedge against potential losses in more traditional assets like real estate and the stock market. |
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| There are no conversations. |
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| cauz |
March 3, 2017, 6:17 p.m. |
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| Sebastian Faulks |
Life can be lived at a remove. You trade in futures, and then you trade in derivatives of futures. Banks make more money trading derivatives than they do trading actual commodities. |
| Frank Gaffney |
Too many countries that do not play by the free trade rules of the World Trade Organization - including, notably mercantilist China and monopolist Saudi Arabia - have been allowed in, to the detriment of both the WTO and the liberal trading environment it is supposed to sponsor. |
| Chiwetel Ejiofor |
This is going to sound completely absurd, but I do sometimes feel like the enjoyment of an awards ceremony or the pride in the finished article hasn't ever surpassed the joy of doing the work, of making it. The doing it is really the bit I'm there for. |
| Ernest Istook |
There's a lot of exaggerated talk about CAFTA, but it's actually a fairly routine trade agreement. Although it involves fairly small nations, they're still more important trade partners than places like Australia or many other larger nations. |
| Sylvia Earle |
Ten percent of the big fish still remain. There are still some blue whales. There are still some krill in Antarctica. There are a few oysters in Chesapeake Bay. Half the coral reefs are still in pretty good shape, a jeweled belt around the middle of the planet. There's still time, but not a lot, to turn things around. |
| Chuck Hagel |
I would not trade America's position in the world - our ledger, our debts and assets - for any country in the world. There isn't a country in the world even close to America. |
| Kazuo Ishiguro |
Even though I spent the first five years of my life in Nagasaki, going to Japan can be really difficult. Even if they know I've been brought up in the West, they still expect me to understand all the subtleties of their culture, and if I get it wrong, it matters much more than if a British person gets it wrong. I find it intimidating. |
| Mitt Romney |
In the richest country in the history of the world, this Obama economy has crushed the middle class. Family income has fallen by $4,000, but health insurance premiums are higher, food prices are higher, utility bills are higher, and gasoline prices have doubled. Today more Americans wake up in poverty than ever before. |
| Lois Capps |
Studies have indicated there is a strong correlation between the shortages of nurses and morbidity and mortality rates in our hospitals. |
| Thomas A. Edison |
I have friends in overalls whose friendship I would not swap for the favor of the kings of the world. |
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i bought $100 worth of bitcoin the other day for the first time. the price rose a bit and the price difference covered the taco bell i just bought.
neat.
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IRS Now Has a Tool To Unmask Bitcoin Tax Evaders
You can use bitcoin. But you can't hide from the taxman. At least, that's the hope of the Internal Revenue Service, which has purchased specialist software to track those using bitcoin, according to a contract obtained by The Daily Beast. The document highlights how law enforcement isn't only concerned with criminals accumulating bitcoin from selling drugs or hacking targets, but also those who use the currency to hide wealth or avoid paying taxes. The IRS has claimed that only 802 people declared bitcoin losses or profits in 2015; clearly fewer than the actual number of people trading the cryptocurrency -- especially as more investors dip into the world of cryptocurrencies, and the value of bitcoin punches past the $4,000 mark. Maybe lots of bitcoin traders didn't realize the government expects to collect tax on their digital earnings, ...
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Bitcoin's Price Was Artificially Inflated Last Year, Researchers Say
A concentrated campaign of price manipulation may have accounted for at least half of the increase in the price of Bitcoin and other big cryptocurrencies last year, according to a paper released on Wednesday by an academic with a history of spotting fraud in financial markets. From a report, first shared to us by reader davidwr:
The paper by John Griffin, a finance professor at the University of Texas, and Amin Shams, a graduate student, is likely to stoke a debate about how much of Bitcoin's skyrocketing gain last year was caused by the covert actions of a few big players, rather than real demand from investors. Many in...
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Silk Road investigator gets more jail time for second Bitcoin theft
A Secret Service agent already convicted to 71 months in prison for swiping Silk Road Bitcoins will get another two years for a separate Bitcoin theft, Reuters reports. Shaun Bridges pleaded guilty to stealing 1,606 Bitcoins -- worth around $360,000 at the time and now valued at over $11 million -- from a Bitcoin wallet controlled by the Secret Service. The theft was discovered when the agency tried to return some of the coins after they were seized from the European BitStamp exchange.
That sounds crazy, but there's more. B...
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Russian Shipwreck Allegedly Carrying $130 Billion In Gold Has Been Rediscovered
An anonymous reader quotes a report from Popular Mechanics:
A salvage company has located the remains of a Russian warship lost during the the Russo-Japanese War. The battle-damaged cruiser Dmitrii Donskoi was scuttled off the coast of Korea in 1905, reportedly carrying a cargo of gold worth an estimated $130 billion in today's dollars. An international consortium of companies plans to salvage the gold.
According...
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I have expanded my crypto investments! Now I own bitcoin, bitcoin cash and ethereum which are going up from 10%-30% a day. I only own small amounts but its neat and I cant wait to spend them on something
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Bitcoin Mining Heats Home For Free In Siberia (qz.com)
Quartz has published a video on YouTube about two entrepreneurs who have figured out how to heat their homes for free by mining bitcoin. The "miner" -- that is, the machine mining the bitcoins -- warms up liquid that is then transferred to the underfloor heating system. The cottage has two miners, which bring in about $430 per month from processing bitcoin transactions -- all while keeping the 20 square meter space warm.
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Bitcoin Becomes Legal Payment Option In Japan, Prices Spike
A bill to amend Japan's Banking Act has finally come to fruition, recognizing Bitcoin and other cryptocurrencies as legal tender. The bill has far-reaching repercussions for the digital currency world as well as the way that cryptocurrencies can be traded and exchanged. The Banking Act was modified after a long process of debate and dialog which saw proponents of digital currencies arguing on their behalf. Now, after months of discussion, the bill has come into effect as of the beginning of April. Section 3 of the bill has been modified to including wording on virtual currency and is being called the Virtual Currency Act, according to reporting by Brave New Coin. Digital currencies like Bitcoin have finally received definition and recognition as a means of payment by the Japanese government. The Banking Act's Payment Services ...
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Understanding how buy and sell walls work, and why they indicate the opposite of what you think they do. This is market 101 stuff, but I think a lot of people don't understand this, so I'm going to help explain it.
I'm going to help explain this phenomena, because this is how big players enter or exit a market. This is how they create the liquidity they need, while eliminating the slippage which they don't want. I've had a few people lately that completely didn't understand this, and I figured there could be a lot of new investors (not just crypto, but market investors) that could benefit from a thorough explanation of this maneuver.
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Did Elon Musk Create Bitcoin?
EditorDavid 5 hours ago 108
An anonymous reader quotes CryptoCoinsNews: It should be no surprise that the elusive hunt for Satoshi, often referred to as the father of Bitcoin, has led to the theory that Elon Musk has been hiding a big secret from all of us. Sahil Gupta, a computer science student at Yale University and former intern at SpaceX, believes just this... Bitcoin was written by someone with mastery of C++, a language Musk has utilized heavily at SpaceX. Musk's 2013 Hyperloop paper also provided insight into his deep understanding of cryptography and economics...
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