YOU ARE ONE WHO INVESTIGATES

YOU ARE ONE WHO INVESTIGATES, RIGHT?

DOES THIS DESCRIBE YOU?

You arrive at this blog searching non Bitcoin terms - but - interestingly, you do have an interest in finding out more about Bitcoin. You probably don't know what the term Blockchain means either. Or, that there are over 800 branded "coins" like Bitcoin on the blockchain technology. You know that you would like to know more - but don't know where to start or who to ask. What luck that you are here today. Here's this blogs best advice.................. The sidebar has "Bitcoin" books and "Bitcoin" links - exploring any of these can be helpful for your learning curve....... But, let's say you simply want to get your feet wet - to actually OWN some Bitcoin - and you are simply wanting to know the first steps on obtaining some Bitcoin............. Cool - because it's not hard to do - but - you DO need to know a few things about OWNING Bitcoin...... First things first - Bitcoin in 2017 is totally legit and you are going to have to identify yourself, and verify yourself, to buy OR to "mine" Bitcoin............Next - there is only a place or two to buy Bitcoin at the lowest price - the main company is called Coinbase. Millions of people have Coinbase accounts. MOST people in America buy their first Bitcoin from Coinbase....... Now, interestingly, Coinbase has an interesting "bonus" to those who sign up - and buy their first 100.00 USD of Bitcoin. BUT - the bonus involves USING AN AFFILIATE link to JOIN Coinbase; I'll explain what and why.......First, ONLY IF you use an affiliate link do you get the Coinbase bonus - this is my Coinbase Affiliate Link - https://www.coinbase.com/join/m4ever - IF you use it when you join and then eventually buy your FIRST 100.00 USD of Bitcoin from Coinbase - THEN THEY GIVE YOU 10.00 USD OF FREE BITCOIN - (They Also Reward Me). It's Coinbase's way to welcome American People to Bitcoin.....IF YOU DO NOT USE THE AFFILIATE LINK TO SIGN UP - THEY DO NOT REWARD YOU EVER FOR YOUR FIRST 100 USD - IT'S THAT SIMPLE...DO YOU WANT 10 FREE USD OF BITCOIN... You too will have an Affiliate Link after you join - make sure to share that with your friends when they want to buy their first Bitcoin. Also, when you join Coinbase... You will automatically also have a Bitcoin wallet (and address) - you will need a Bitcoin Wallet to acquire BTC from the only other method of OWNING Bitcoin - to "Mine" it.... Yes, it's true...you really can become a miner................ And, to some people that means REALLY getting into the entire Blockchain scene, learning the language, becoming experts, and eventually buying Mining Equipment...... And, that is fine for some people. BUT...it is time consuming - AND - Bitcoin machines are notoriously "hot and loud" and somewhat expensive to run as they consume lots of electricity.......Which FINALLY brings us to the last quick tutorial for you... the news that you can also RENT "mining" equipment - by buying what is called Hashpower - from a reputable company..... UNFORTUNATELY, reputable mining companies, are few and far between - indeed - I can ONLY recommend the one I am using myself - Genesis-Mining...... they are a long running mining farm with low electricity costs - and over 500,000 people worldwide are already "mining" with them from buying Hashpower contracts. That hashpower is assigned to your rented machines - which "mine" cryptocurrency daily - you are sent your earnings the following day.... at Genesis Mining there are multiple coins to "mine" and you set the mix of coins you "mine" - and you can change your mix at any time. The return on your investment will ultimately depend on the price of Bitcoin and the coins you choose to "mine". Obviously, if you re-invest your returns in buying additional hashpower - your ROI will be quicker. Indeed, after a number of months (less than a year currently) you will be "up" and earning daily bitcoin value indefinitely....it's a longer term view - if a year is to be considered long term. And, like Coinbase, Genesis-Mining also has a "win-win" Affiliate Program for new users - IF you use a PROMO code to buy your "mining contract/Hashpower" - you save 3% on your cost (you pay full price if you don't use the promo/coupon code) - AND - they also provide me a bit of FREE Hashpower for bringing you into the "mining" spectrum. "Mining Contracts" begin at ONLY 30.00 USD,it's a no brainer - Here's my Genesis Mining Code (you can see it in other places on this blog too) lcS0Un - use the code when you sign up. Just click the links, or click the banner at the top of the sidebar. Thanks. Oh - one final thing - the powers that be may DECLINE your perfectly valid Visa card - In Other Words - You May Need To Call Your Bank Or VISA to be able to buy - validate your purchase. It's just one additional way the powers that be want to keep you powerless.

YOUR BITCOIN - MAKES YOU A MICRO-LENDER BANK - CHECK THIS OUT

Tuesday, April 7, 2015

Bitcoin Dreams..... Prior To Sept 2016

I began this post weeks ago... it's a deeper one.... sorry for the lack of posting as I have been active in crypto and have more stories to share beyond this post. Also, this blog is now getting over 1,000 page views a day lately... much traffic from Germany too... thanks.
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Tis the season for Bitcoin `pipe dreams' --- those who fancy that the new currency could again `take off' in a straight upward move in value. But, will that ever happen again... or are there now constraints via the marketplace (including options) to dampen that occurrence. And, what about the coming `halfing' of the block reward in Sept. 2016... will a panic set in then... 3 months before... 6 months before?

And, these pipe dreams I refer to in bitcoin value are not limited to a spike from a couple hundred to 1,500 like before... these are the dreams of each coin worth 50 thousand or even 100 grand or more. BITS of dreams. But, what is it that makes value? Is it literally JUST The value of the electricity? Some interesting ideas are to be found in this very deep look at the value of Bitcoin and the value of the alternative currencies too. http://bravenewcoin.com/news/bitcoins-value-mining/ Indeed, I will be looking deeper now at some of the tenets contained in the article... providing some feedback I've gotten about the article from two coin developers... and examine what value really is... perhaps.

This is how the article begins: RED is my emphasis
Bitcoins Value: Mining
Posted by Adam Hayes on 15 March 2015 | Comments
In my previous article empirical research analyzing the data from a number of cryptocurrencies found that value formation occurred at the margin. In other words, it is how many units of a cryptocurrency can be found over some interval with a given amount of mining effort. What's more is that because only Bitcoin has practical use-value for real world applications, a rational, profit-motivated miner will only mine for an altcoin if they can earn effectively more BTC/day than directing their hashing power at Bitcoin directly. As a result, altcoins find themselves always offered in the Altcoin/BTC marketplace and have the tendency to fall in price over time relative to Bitcoin. In fact, this is what has been observed in the market: over the past six months Litecoin is down 41%; Dogecoin -25%; Peercoin -50%; Reddcoin -50%; Namecoin -43%; Nextcoin -40%;  Blackcoin -91%; and so on. The Altcoin200 Index, a BTC-denominated market-cap weighted index of the largest 200 cryptocurrencies excluding Litecoin and Ripple is down over 20% since the start of the year.
So the first point is the seemingly downward trend compared to the last 6 months in the pricing of the alt market (after it's EXPLOSION into existence... so perhaps not really a fair correlation) as it finds A RELATIVE value for coins beyond their `trading value'.... Indeed I highlight the above saying that ONLY Bitcoin has `real world applications'..... as IMO that isn't true and a number of coins can now be spent and used in a variety of manners. 
And, additionally IMO... some will be finding a value outside of a direct tie to exchanging for bitcoin (but everything is interchangable of course). I think of coins that are moving into the banking arena and such. Other coins for gaming... others for perhaps a Nation such as Maza coin... or even the various niche coins that might serve a noble purpose or two.
The marginal cost, in the case of Bitcoin, is energy. Because miners cannot (yet) pay for their electricity costs in BTC, the dollar- (or euro or yuan etc.) price of electricity becomes an important variable. The energy efficiency of the mining hardware is also important, as it determines how much electricity will be consumed per unit of mining power. Today, the world average price of electricity is somewhere around 12.5 to 13 cents per kilowatt-hour (kWh), and the average efficiency for an ASIC mining rig deployed today is around 0.9 – 1.0 watts per GigaHash/second (or Joules per GigaHash). Knowing these two values, a miner can determine their cost of production per day:
$cost/day = ($price per kWh x 24 hr/day x W per GH/s) x (GH of mining rig / 1000)
It is the average cost across the entire network of miners which regulates the marginal cost for mining. There will be individual mining operations with very low cost of electricity, perhaps in Iceland, or with the latest cutting edge energy-efficient hardware. There will also be miners still running obsolete equipment or in regions with very high electricity cost in hopes that the price of Bitcoin will one day increase sufficiently to cover their daily operating losses. What matters is the average.
This fine article then goes on to point out the seemingly direct price correlation currently to the price o BTC and the price of electricity... not taking into account that the `median' price may not be where BTC is being produced and that therefore many other assumptions get called into question about the ultimate value. But without question slowly the move to efficiency and low production takes place... making the market even more valid and profitable.
The article later continues with:
This is only an objective calculation, and a reasonable explanation of why the actual market price trades consistently above this value is that there exists a number of subjective motivations for mining that also confer value. There is certainly a speculative premium, and many miners hoard either all or part of their production. The assumption in the objective production model is that all miners bring their product to market for sale each day, which is certainly not the case for everybody. Individual decision makers may undertake mining even at a loss if they believe that there will be a large enough potential upside at some point in the future. Others may be drawn to the anonymity or decentralized nature of Bitcoin.
Bingo the `objective' production model assumption is NOT true and is too much of a basis for this total speculation about the ultimate value.

BITCOIN IS HEADED TO $548.00 on 9/2016?
BUT IS ARMAGEDDON COMING?
Unlike most commodities where the supply can change quickly to accommodate fluctuations in demand, the supply of bitcoin is hardwired at a steady rate of one block every ten minutes with the difficulty setting adjusting up and down to maintain that linear rate of production through time. If miners are not able to supply enough new coins to meet an influx of new demand, the market price can see increases while the cost of production remains largely the same –  inducing more miners to increase their mining efforts. This will cause the difficulty to increase, raising the cost of production until presumably a new break-even level is reached.
One final insight that could have sizable consequences for the objective value of bitcoin relates to the block reward amount and how changes in it will impact BTC/day production. When bitcoin was launched, each block mined was composed of 50 bitcoins. That amount is set to halve every four years, and in 2012 the block reward became 25. The block reward will again halve to 12.5 bitcoins per block, expected mid-September, 2016, and will again in the year 2020 and so on. If we refer to the illustrative example above and substitute a 12.5 BTC block reward for the current 25, the expected BTC/day' becomes half of 0.010604, which is 0.0005302 per 1,000 GH/s. Given that new BTC/day', the break-even price for a bitcoin increases to $548.30, holding all else constant (the difficulty and cost per day remains the same). If the market price of bitcoin does not increase in turn, it will suggest that the break-even efficiency will also decrease by half. This could have the effect of eliminating all but the most efficient producers all at once.
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So alot could be coming in regards to the value and pricing of Bitcoin... meanwhile... some say things such as will BTC go to 100,000 or will 1000 coins go to 1000? The stuff dreams are made of Bitcoin Dreams.
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More BTC Links Worthy Of Your Read
Mazacoin gets mentioned
100,000.00 Pipedream?
is this to be the NEW standard? (I like it)
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Thanks For Your Readership
MORE VERY SOON

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