65% `Not At All Familiar' With Bitcoin - Google Tracking Study For Coin Center

Today's Bitcoin Lead

It's an interesting read on what the current understanding levels are for America.... sad... but a start... what's sad is that about 13% want the Government to BAN it... and only 16% or so want the Government to keep hands off. Read the news about Bitcoin Awareness Here. It would be interesting to know the demographic breakdown and other data right? Here you go.. and the consumer image of Bitcoin is Not Good and words 

associated with it include fraud and crime - the goal is to move the circles to the upper right.... a long way to go IMO.
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Bitcoin Spew

The Reddhead newsletter had a great history lesson about Bitcoin as Reddcoin celebrated it's first birthday in February.

Happy 1st Birthday Reddcoin!

This week Reddcoin turned 1 year old and members of Reddcointalk and the Reddcoin subreddit lined up to offer their best wishes to the infant cryptocurrency.

With the amount of development work that has gone into the project it is quite easy to forget how very young Reddcoin is. To put things in perspective it is worth taking a quick look at a couple of other currencies, starting with Bitcoin.

Bitcoin - 1st birthday 3 January 2010

Although the Bitcoin Whitepaper was published by Satoshi Nakamoto on 31 October 2008, it was not until 3 January 2009 that the first block of the blockchain - the genesis block - was mined by Satoshi. The first Bitcoin transaction took place on 12 January 2009, between Satoshi Nakamoto and American cryptographer Hal Finney.

On 5 October 2009 the first Bitcoin exchange rate was published byNew Liberty Standard. By calculating the cost of electricity used to generate Bitcoins the rate was set at $1 per 1,309 BTC, making 1 Bitcoin worth less than a tenth of a cent.

On 10 October 2009 the first online chat was set up for Bitcoin when the Bitcoin-dev channel was registered on freenode IRC. Over the course of 2009, before Bitcoin became 1 year old, versions 0.1 and 0.2 of the Bitcoin wallet were released.

And besides the above, nothing much happened. Of course Bitcoin was a new concept that no-one knew about, but it is still striking to see how it all began. To push the point home, the famous 10,000 BTC pizza was not bought until Bitcoin was nearly one and a half, on 22 May 2010!

Euro - 1st birthday 1 January 1999

The Euro was launched on 1 January 1999 in non-physical form (travellers cheques, electronic transfers, banking, etc.) at midnight. At the time of launch the national currencies of participating countries had their exchange rates fixed to one another, as a way to implement unified monetary policy. The Euro did not actually get its own physical notes and coins until three years later, on 1 January 2002.

It appears that even a fiat currency like the Euro was not immune to what cryptocurrency enthusiasts would refer to as a “pump and dump”. Buoyed by high expectations and plenty of optimistic expert opinion, on the first day of trading (5 January) the Euro climbed to US$1.19 as it was rapidly adopted by traders. However the Euro dropped to parity with the dollar by the end of the year, a 16% drop in value that may not seem much compared with cryptocurrency... but it was enough to spur emergency action from the G7 to set up support for the European currency in 2001.

Reddcoin - 1st birthday / public release 2 February 2014

Reddcoin was launched at a time when the cryptocurrency scene was blooming following the huge mainstream attention paid to Bitcoin at the end of 2013. One year on and the majority of the diverse cryptocurrency projects set in motion in 2014 have faded away and been resigned to crypto-history.

Thanks to its team and dedicated community Reddcoin is one of the few projects that continues to forge ahead with innovation and promise for the future.

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More Soon

I'm Up At Bittrex - Portfolio Review

I thought an update was in order - especially since about a week ago I went from down overall in my Bittrex trading of non-bitcoin digital currencies - to UP. The change was the result mostly of a fantastic trade result of one coin - to be revealed at the end of this post. (I may have spilled the beans in an earlier post too.) (Okay it was GameaholicCoin.)

Anyway - Via transfers and stuff with the other exchanges I'm in - my original btc stake at Bittrex was 0.15 btc value (about 50-60 bucks at the beginning) - below is the current btc value as of this posting 11/26 at 10:10 AM eastern (has been as high as 0.180 in last 48 hours) - even with .168 that's up over 10% from the start and well up from the lows around .125

0.1687-0.180 over course of this posting
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Largest Positions And Value/Coins

.03 - Bitcoin, (80% reserved for buys)

.021 Bytecent, (next bitcoin lite?)

ByteCent was crowd-funded at Bittrex - I bought in

.018 PandaCoin (nation coin)

.017 ReddCoin (Reddit's coin)

.013 NavajoCoin (nation coin)

coins above this line I am mostly in an accumulate long term mode

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generally coins below this line I am in trading mode

.008 VertCoin (slow hard trade)

.007 ESportsCoin (love this ones potential)

.005 QuickSilver (profitable for me)

.004 Britcoin (just starting)

.003 WorldWideCoin (losing gamble on BIG name niche)

.003 CraigsCoin (good before, tight range lately)

.003 SyncCoin (expensive loser for me - still holding)

.002 CheckCoin (overbought loser)

.002 CleanWaterCoin
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These posts are so time consuming that I'm posting this part - the `portfolio' is now about 30 coins on Bittrex - trying to find the ones that go up and down - more soon.
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Please check out the various links on this page - you are sure to be entertained.

Most Recent Buys And Sells

In many respects this blog will be an on-going diary of my moves and understanding of the Virtual Currency Marketplace

Most Recent Buys 

Bought 25K ReddCoin at 0.00000010 (11/13) 0.025 BTC

Bought 675 RETKCoin at 0.00000370 (11/12)  0.025 BTC

Bought 160 ExclusiveCoin at 0.00001615 (11/12) 0.025 BTC

Bought 60 QuickSilverCoin at 0.00004200 (11/12) 0.025 BTC

Comment

I continued my uninterrupted buying of Reddit's coin at the new lowest price yet - lowering/averaging my other buys at 13,12, and 11. I discovered RETK coin and will use it as a trade coin as I've already done with Exclusive coin - previously buying and the selling it for a profit. Finally, an `expensive' buy with QuickSilver which I will also use as a trade coin most likely.

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Some of the links below - might be of interest?

BIT BARF - TODAY'S BITCOIN AND DIGITAL CURRENCY - STEW

11/12/14 - As you can see via the sidebar - Bitcoin and indeed nearly all Digital Currencies are having a very good day... Bitcoin has rebounded from the low 300's within the past week to well over 420 today. Indeed, one of the fun things about Dental Floss Tycooning is that your currencies may be worth more or less than the BTC value and STILL BE WORTH more USD..... the BTC replacing the USD in essence.

All that said, this Analyst a stock trading pro with all kinds of graphics about trends... says the trendline UNLESS it stays above 420 (HMM) isn't good... looks like we covered that short term rally he says was possible in his analysis about THIS week. That said, I'd say the digital currency market is NOT exactly like the stock market and that the `currencies' have a MUCH shorter `memory' of pattern... let's say. Indeed, I'm finding slowly what works.... seemingly... and just on general marketing terms a few things can be said...... have a coin with a good positioning AND a built in potential `retailish' marketplace of those interested in the NAME or concept.

For example, REDDCoin has the built in audience of REDDIT users.... destin to go up in size and enthusiastic and Bitcoin strong too. Over the long haul.... you will probably do very well with this still CHEAP coin... and one of the FEW that will probably survive that have chosen the MASS `available' market positioning (those currencies with BILLIONS available). (Compare to BTC's 13 million.) The `pot' coins if carefully chosen represent the same idea of a built in retail market and targeted brand users of product.... Compare those names with NOBLECoin.... are you Noble? Are a category of folks identified with being NOBLE... well perhaps... you get my drift... that is how you need to look at this.... IMO.
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@ this moment the Dental Floss Tycoon Account

began with 0.152 (after transfer, including bluetrade set up)

now at 0.123

not all are keeping up with the over 20% daily increase in Bitcoin today.

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More Soon

Fifty Buck Dental Floss Tycooning - Part Two

This is the on-going account of the approximately 50 USD (via Bitcoin for trading 0.15 Bitcoin when begun) trading account in virtual currencies - offered at Bittrex. All readings 11/7/14 @6pm.

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Today's Patter

As you have read, the first moves into this exchange was just a few days ago to acquire a portfolio heavy in the `marijuana names' before the election - assuming a general win for pot. The Coin result was mixed but one Coin - the SativaCoin - has been tanking nearly the entire time due to low trading volume and folks getting out at any price. I guess I will find out what happens when one owns such a Coin. Perhaps. (as trading volume has picked up, perhaps saving it in the exchange). Still can't find a price to get back into ExclusiveCoin (sold out at profit already).

Now, to make it easy for myself - I've been buying a Coin in amounts of either 0.01, 0.005, or 0.0025 Bitcoin value. That way, I can generally easily know where I stand with a Coin since the investment. Understand the even the 0.01 BTC is worth only 3.50 USD or so (when I started). IF that is understandable - here's what the Dental Floss Tycoon Coin Portfolio looks like right now.

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The starting 0.157 BTC

is now

0.140 BTC

OWN THESE

@ values shown - @# of Coins

ReddCoin - 0.099 - 76K

NobleCoin - 0.0023 - 19K

UFOCoin - 0.0014 - 16K

PotCoin - 0.013 - 2K

CraigsCoin - 0.0025 - 1.4K

NavajoCoin - 0.052 - 1.3K

GanjaCoin - 0.003 - 500 

(0.05start + sold additional 0.05 at loss)

CannabisCoin - 0.094 - 400

(doubled up today from 200 coins)

Solar Coin - 0.80 - 400 (1/2 for sale)

VertCoin - 0.011 - 60

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OWN- 100%UP FOR TRADE

SativaCoin - 0.0053 (0.01 start) - 15K

CheckCoin - 0.0029 (0.005 start) - 200

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BITCOIN - DRY POWDER

0.066

0.017 (in reserve for active buys/BIDS)

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ACTIVE BIDS INCLUDE

ShadowCashCoin

GamerCoin

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0.49 true dry powder

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today's purchases included

NobleCoin*

NavajoCoin*

VertCoin (re bought for trade - new cycle)

ReddCoin (doubled up)

CannabisCoin (doubled up)

*first time ever was today

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All you need is some peoples currency - Bitcoin - to begin to have the same kind of fun. Buy Your First Bitcoin Here Via Coinbase. (this is where I bought my first and store 0.15 outside of my trading account). I add tiny amounts to Coinbase regularly.

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Remember, if you sign up for the FREE Bitcoin daily - at the links on this page - remember to use BS in your member name to let me know how you got there.