Bitcoin bull predicts prices will triple by 2021 — but

LOEx Market Research Report on May 30: If 9200 points is not broken, hold currency to rise and follow the trend

LOEx Market Research Report on May 30: If 9200 points is not broken, hold currency to rise and follow the trend
[Today's Hot Tips]
1. [Early Bitcoin Developer: Satoshi Nakamoto invented the GPU mining code to defend the Bitcoin network]
According to Cointelegraph, according to early Bitcoin developers, Satoshi Nakamoto prepared several versions of GPU mining code to protect Bitcoin from 51% attacks. Early Bitcoin developers who worked with Bitcoin founders in 2010 stated that in order to defend the Bitcoin network, Satoshi Nakamoto had invented the Bitcoin GPU mining technology in advance. Laszlo Hanyecz is famous for making the first Bitcoin transaction in the real world, and he is also praised for inventing Bitcoin GPU mining. However, in an interview, he said that Satoshi not only invented the algorithm before him, but also had several versions of the algorithm.
2. [The number of transactions on the BTC chain increased by 85.96% compared with yesterday]
As of May 29, the number of active BTC addresses was 767,900, an increase of 60.13% from yesterday; the number of transactions on the chain was 280,800, an increase of 85.96% from yesterday; There are 597 large-value transfers on the BTC chain with more than 100 transactions, an increase of 9.94% compared with yesterday. The number of active ETH addresses was 501,700, an increase of 61.73% from yesterday. The World Research Institute believes that there is a positive correlation between the active transactions on the chain and the currency price.
3. [Digital dollar released white paper]
The "Digital Dollar Project" released a white paper on May 28 local time in the United States. As mentioned in the white paper, "digital dollar" is a form of US dollar token that will coexist with existing fiat currencies and commercial bank funds, reflecting the many attributes of tangible currencies. Digital dollars balance personal privacy with the necessary regulatory compliance.
4. [21: 00-9: 00 Keywords: digital dollar project, Amazon patent, French central bank, stock]
  1. The June contract of CME Bitcoin futures closed down 0.94%.
  2. The stock market has outperformed Bitcoin in the past 12 months.
  3. The Digital Dollar Project released a white paper aimed at laying the foundation for the US CBDC.
  4. The US Patent and Trademark Office has approved Amazon's DLT system patent application.
  5. Bank of France spokesperson: An “internal private blockchain” has been established to test the digital euro.
  6. The International Monetary Fund reiterated its opposition to the digital currency of the Marshall Islands.
  7. Governor of the Brazilian Central Bank: The final step will be digital currency.
  8. The Russian crypto community protested against the draft bill that completely bans crypto transactions.
  9. Novi spokesman: Calibra was originally named similarly to Libra. The name was changed to avoid confusion.
[Today's market analysis]
Bitcoin (BTC)In the early hours of this morning, BTC continued to oscillate within a narrow range around 9400 USDT, and then rose slightly. At present, BTC is generally adjusted within a narrow range around 9450 USDT. Some mainstream currencies have rebounded slightly in the early morning after a turbulent downward movement, and they have started to fall again in a short time. BTC is currently reported at 9376.1 USDT at the LOEx Global, a decline of 0.25% in 24h.
https://preview.redd.it/tmhrrp33gu151.png?width=554&format=png&auto=webp&s=d807d18371d39d8a10b0fdd3754cc08bd704a55f
During the daytime yesterday, Bitcoin attacked more than 9,600 points and was blocked to fall back to 9,400 points. From the first wave of BTC to the top, the callback of 8400 points mentioned in the article that the possibility of BTC can be increased to 10,000 points. At that time, when the position was opened to 9600 points, there could be more than 1200 points of income, and the income was considerable. However, this wave is characterized by the fact that the amount of energy has not kept up, and a process of replenishment is required. As long as the callback does not break 9200, it is still a long trend.
Everyone can hold the currency and wait for the rise, have the opportunity to hit 10,000 points again, and follow the trend
Operation suggestions:
Support level: the first support level is 9200 points, the second support level is 9000 integers;
Resistance level: the first resistance level is 9500 points, the second resistance level is 9800 points.
LOEx is registered in Seychelles. It is a global one-stop digital asset service platform with business distribution nodes in 20 regions around the world. It has been exempted from Seychelles and Singapore Monetary Authority (MAS) digital currency trading services. Provide services and secure encrypted digital currency trading environment for 1 million community members in 24 hours.
submitted by LOEXCHANGE to u/LOEXCHANGE [link] [comments]

The Lemonade Stand: A (Head-canon) story of LibUnity

The Lemonade Stand: a LibUnity story
Allies:
Miles Clarence Pinnacle II: Sixteen-year-old heir to Pinnacle Products™, dashing, incredibly driven, lazier than a sack of bricks at anything NOT having to do with $$$, not Jewish, skipped a grade and won’t let anyone forget, dirty™ capitalist™ pig™, somehow likes every genre of music at the same time???, American™ dream, SO. FREAKIN. EXTRA., genuinely wants you to follow your dreams and be happy by spending your entire life acquiring wealth, somehow hasn’t gotten punched yet, “patron of the arts” because Salvator Mundi just sold for $450 mil, “buh-buh-buh-buh-BITCOIN!”, wants to be Elon Musk but unironically, raised by 4chan, “God says no, market sells yes”, duality of man, slacks, button-up shirt, vest, Rollie™, sunglasses, the most pretentious shoes you’ve ever seen
Leslie (couldn’t afford a middle name mate) Jones: “it’s shite being” British-American, one ethnically crooked tooth, can’t find a consistent ideology, Sex Pistols, petty theft, titty pills, anarchism, fan of the Sex Pistols, sailor mouth Victorian taste, likes incorrectly using British slang, listens to the Sex Pistols, “too nice :)”, makes a really good hummus because it’s not her native food, as “free range kid on free range food,” Oi!, 17 “but I’m not like those other wankers,” the same Sex Pistols shirt everyday even though it has a massive hole in the right arm-pit, always wears union jack bandana, two bits over a meter and a half “tall”, messy brown hair, flower skirt, did she mention she likes the Sex Pistols?, light brown eyes, worn-out chucks, bollocks
Mr. Miles Clarence Pinnacle I: America! capitalism, America! sport/s, America! my beautiful family, America! Pinnacle Products™, America!
Mrs. Julie Winter Pinnacle: “Sweety have you tried my homemade casserole? All the girls at Bible study loved it! Do you go to Bible study dear? Oh, you should join us next Sunday! Barbara does such a good job at leading discussion about ʰᵒʷ ᴶᵉˢᵘˢ ᵈᵒᵉˢⁿ'ᵗ ᵃᶜᵗᵘᵃˡˡʸ ᵐᵉᵃⁿ ᵃˡˡ ᵗʰᵉ ʳᵃᵈᶦᶜᵃˡ ᵗʰᶦⁿᵍˢ ʰᵉ ˢᵃʸˢ…
Belligerents:
l e m o n s, first quarter, moral ambiguity, U.S. housing market
Scene 1: Sunny American day in a sunny American neighborhood. Fourteen-year-old Miles Clarence Pinnacle II sets up a shabby lemonade stand (seriously Miles, a lemonade stand? Aren’t you a little too old for this?) (“Money’s money baby 😉”) across the street from a construction site, hawking his newest Pinnacle™ Product™ (or as I like to call it, his newest get-rich-quick scheme) (“Hate the man, not the hustle baby 😉”).
Whatever, let’s just see how the market reacts to his newest… hustle.
Miles: shouting with comical gesticulation Lemonade! Get your lemonade here! Nothing better after a hard day’s work than a nice, tall, refreshing glass of ice cold… ooo, hear those ice cubes tinkling it’s like straight out of a commercial people… and it’s so uh… refreshing, you wouldn’t believe me unless you tried it yourself! And just think gentlemen, this beverage, this… Pinnacle™ of refreshment can be yours, and only yours, for two small payments of $.50. Truly, this miracle of capitalism could only happen in a land as beautiful and free as the U. S. of A. Now, which one of you lucky gentlemen will be the first to try…
Construction worker: gathered around an Igloo™ water cooler Go home Miles, your lemonade sucks.
Miles: indignant Hey! My lemonade does not suck! It’s a Pinnacle™ Product™!
Construction worker: It’s watered down slop is what it is. I’d rather pay five bucks for water than a dollar for your crap.
Miles: dumps out half the glass Care to put your money where your mouth is?
Construction worker: raises his third cup of water Nah I’m good Miles. Got all the water I need for free.
Miles: grumbling Commie cheapskate.
Construction worker: laughs and returns to work
Miles: looking down the street for another other suckers customers. Notices a young “girl??” nonchalantly approaching and gestures they/them over Hey, hey, hey, you, kid!
“Girl” (maybe?): removes quem’s headphones Who, me?
Miles: Well I don’t see any other strapping young men…
Leslie: … women…
Miles: women this side of the sidewalk, do I?
Girl: looks around I… guess not?
Miles: puts his arm around her shoulder cause what’s personal space, right? You’re absolutely right! What’s your name kid?
Leslie: visibly uncomfortable, but Miles hasn’t gotten the customer satisfaction report yet Leslie.
Miles: Well my gender-ambiguous friend, you’ve just walked into the opportunity of a lifetime.
Leslie: playing along I have?
Miles: with dollar signs in his eyes Absolutely! You have the exclusive hono, of having the first glass of my patented™ home m… assembled! glass of Pinnacle Lemonade!™ A once in a lifetime opportunity that can be yours, and only yours, for one small payment of…
Leslie: curtly I’ll try it if you shut up.
Miles: silently steps aside and hands her a glass
Leslie: s i p p
Miles: impatiently Well? How is it? You love it? You love it don’t you? You love it so much you’re speechless.
Leslie: grimacing It tastes like, like…
Miles: the greatest thing you’ve ever…
Leslie: Shite.
Miles: the five stages of grief But, but… it’s a Pinnacle Product™…
Leslie: tosses it out Tastes like watered-down minute-maid mate.
Miles: tries it himself and promptly spits it out. Crashes like the housing market onto the stool, sighing dejectedly Huh…, maybe that’s why I haven’t made first quarter.
Leslie:
Miles: exploiting™ it I won’t be able to make my first bitcoin investment, and this venture capital failure will haunt my portfolio till the end of my days. My credit will take, I’ll be denied a car loan, potentially rendered homeless…
Leslie: rolls eyes anarchically
Miles: applying for an Oscar Well, thanks for the feedback. I guess I’ll go back to putting the depression in Depression, broke, friendless, hopeless…
Leslie: giving into ancap™ tears™ You know, I have a lemon tree in my backyard, I could bring you some fresh lemons to…
Miles: rebounding harder than post-WWII American economy Corner the organic market! Leslie you’re a genius! puts arm around her shoulder again Leslie, Leslie, Leslie, I’m so glad the invisible hand of the market that brought us here together today.
Leslie: economically confused It did?
Miles: As sure as Adam Smith’s law of supply and demand!
Leslie: Who’s Adam Smith?
Miles: … >:(
Leslie: backing away I’ll just, go get those lemons yea?
Miles: frozen like the national unemployment rate ha-ha economic memes so funny She doesn’t know who Adam Smith is. She’s as British as overpriced tea but doesn’t know who Adam Smith is. She probably doesn’t know anything about economics. reflects in smuggling and tax evasion No wonder we revolted.
Leslie: returns laden with lemons (try saying that three times fast) Ok! I’ve got them!
Miles: Now that’s what I call fast food!
Leslie: giggles, dropping all the l e m o n s Oh, sorry sorry!
Miles: scurrying to collect future profit No, that one’s on me, I’m a capital pun maker. I inherited it from my dad.
Leslie: collecting the lemons for common use It’s alright, at least it was funny.
Miles: getting kinda lost in your hazel eyes Leslie, ngl So, uh, wanna come inside and get these squeezed? I mean lemons, squeeze the lemons… you know what I mean.
Leslie: Do I?
Miles: leading her across the street Let’s hope not. C’mon, I’ll introduce you to the folks.
Scene 2: Basically, a Bed, Bath and Beyond kitchen catalog, complete with tiled floor, “Live Laugh Love” signs, and several wine bottles. It’s even got a Golden Retriever named Biscuit. But he’s a good boy yesh you are, yesh you are! Oh yea, and Mr. and Mrs. Pinnacle are here. They’re actually really cool people, if a little American.
Miles: barging through the front door with Leslie in tow Mom! Dad! I’m home!
Dad: putting down the Wall Street Journal Hey-hey-hey sport, how’s the lemonade stand going?”
Miles: with all the false confidence of a failing business We’re venturing into new markets!
Mom: wipes off hands on a dish rag Oh, and you brought a friend over! Would you care to introduce us Miles?
Miles: Oh yea, Mom, Dad this is Leslie, Leslie uh…
Leslie: extending her hand Jones, Leslie Jones. It’s nice to meet you sir, thanks for having me.
Dad: shakes her hand. Notices the Union Jack bandana around her neck and decides to get cultural Don’t mention it mate! We’re happy to have you, just don’t tax our tea am I right? laughs in protectionist economic policies.
Mom: Miles are you and the queen staying for lunch? Or tea, rather? winking at Leslie
Leslie: realizes that Americans have even less subtlety than she expected
Dad: Untaxed of course. laughs in Marshall Plan
Miles: Sorry mom, my partner and I gotta make first quarter.
Dad: First quarter, or the first quarter?
Leslie: chuckles
Dad: finger guns the one person who laughed at his dad joke
Miles: A-ha-ha-ha very funny dad. Just wait until ur next batch of Pinnacle Lemonade™ hits the market. Because you know what’s gonna happen? It’s gonna break the market. And you know why? Because it’s gonna be the best one yet. And you know why?
Dad: Because you attached more quality than name to a product?
Miles: gesturing between himself and Leslie because it was all his idea obviously, We’ve… got a secret ingredient.
Dad: Foreign labor?
Miles: No. I’m talking about the best marketing ploy since $.99, “organic.” Show ‘em your lemons Leslie.
Leslie: blushingly reveals “her” lemons
Dad: Wow, those look fresh, and more importantly, free. “Organic” could work, as long as you’re not false advertising our minute-maid again. Do you have a consistent supply?
Miles: We sure do, right partner?
Leslie: Uh… yea, we sure do.
Dad: getting those proud dad gears turnin’ Well then what’re you waiting for son, time is money!
Mom: Feel free to use the juicer Miles.
Miles: grabs the juicer then opens the back-door Thanks mom! Let’s go out back Leslie and get lemons juiced! (ok I’ll stop)
Mom: gushing as any mother of a friendless child would Oh! It was wonderful to meet you Leslie. You’re so striking I’m surprised I haven’t seen you in the neighborhood before. Do you live nearby?
Leslie: Uh yea I live around here yea.
Mom: Splendid! Then you simply must come to church with us this Sunday! The neighbors are coming over my signature homemade casserole™ and they have two boys you and Miles’ age that...
Leslie: briskly Sorry, my mom and I aren’t big on church.
Mom: without missing a beat That’s fine dear, you don’t have to be a believer to go. Why don’t you meet us here at 8 tomorrow, and we can take you with us?
Leslie: I don’t think…
Mom: places her arm around her shoulder, what’s with Americans and physical contact Splendid! Miles dear, you’ll be sure to introduce Leslie to Hans and Alexy tomorrow, won’t you?
Miles: It’s Oliksey mom, and no they’re weirdos.
Dad: We’re all Americans son.
Miles: Fine. But I don’t think they’re Leslie’s crowd, you know? They’re too… foreign.
Leslie: indignantly I can judge their character myself, thank you very much.
Dad: See that, everybody’s happy except you Miles. Now, don’t you have money to make?
Miles: sweeping her out the door C’mon Leslie let’s goooooo.
Leslie: flustered at Miles’ hand position You’d better watch those mitts chav!
Scene 3: The suburban boonies, an un-mowed backyard. Leslie’s lost count of how many trials and ERRORS Miles has put her through while trying to find the perfect cocktail. She wouldn’t be as pissed if there was actual alcohol in it, but they’re 14 and Miles wants to get into Yale, so he only drinks Old Fashioneds (as if).
Miles: handing Leslie a crystal glass new concoction… whaddya think?
Leslie: pushes the headphones further into her ears Christ, Miles. Do I have to try another one?
Miles: Oh, c’mon please! This one’s the money I’m tellin’ ya.
Leslie: That’s what you said about the last three piss jugs you had me drink.
Miles: All part of the capitalist process my dear. Now, if you please?
Leslie: takes the suspiciously presentable liquid Oh… bollocks.
Leslie: s i p p Hm. Hmm! This is really good! Doesn’t taste like shite this time, what happened?
Miles: Four-parts water, two-parts lemon-juice (not his), half part ice, half part sugar, half part mint, and a pinch, a PINCH of ginger. My dear Leslie I present to you, the first ever Pinnacle Beverages Lmt. Product, “The Mile High. Is what happened. 😊
Leslie: genuinely impressed This is really good Miles, and I’m not taking the piss I’d pay good money for this, and that means a lot coming from me.
Miles: dollars signs for pupils That’s all I needed to hear, which is why… kneels before her
Leslie: blushing like a Victorian aristocrat W-What’re you doing you nuttah!
Miles: takes her hand Leslie, I’m prepared to offer you 15, no, 20% stock in Pinnacle Beverages Lmt.™. We’ll make millions Leslie, millions with your organic stock and my technical know-how.
Mr. Pinnacle (inside): sees his son proposing to the punk queen Looks like he’s making more than a friend out there honey.
Leslie: looks away bashfully Oh yea um,… about that.
Miles: We’ll be on billboards across the country! Commercials on prime-time television! We’ll give Coca-Cola a run for their money, we’ll…!
Leslie: hesitantly Miles…
Miles: checking himself, but not for the right things No, no, you’re right. I shouldn’t get ahead of myself. You were an integral part of this operation and I shouldn’t undercut your contribution, which is why I’m preparing to offer you… retches excuse me, 25% of my company from this day forward. All for the small price of an endless supply of fresh lemons. extends his hand Well friend, what do you say?
Leslie: looks at his outstretched hand in guilt I… I can’t.
Miles: about to cry Please, please don’t make me say 30%, it’ll break my heart.
Leslie: I don’t care about your money, Miles.
Miles: Great! 5% then!
Leslie: shouting I stole the lemons Miles!
Mr. Pinnacle (inside): turning back to his coffee I’ll pretend I didn’t hear that.
Miles: incredulous Y-you’re right. This deal’s so good it’s basically stealing.
Leslie: NO Miles. I stole those lemons from a house down the street. My flat won’t let us grow stuff in our place, so I come here to… you know, bridge the gap.
Miles: pridefully You should’ve told me Leslie. Stealing violates the NAP, but lying violates our friendship.
Leslie: prejudicely Pfft. Morality comes easy to toffs living in a two-story house in the when you live in a two-story house in the burbs.
Miles: sincerely We weren’t born into money Leslie. My dad started as a door to door salesman before opening his own company with my mom. He pulled himself up by his bootstraps with wit, determination, and a modest business loan.
Leslie: rolls eyes impoverishly
Miles: I don’t know who you are, where you come from, your religion, your political ideology or any of that, and I don’t care. I wanna be your friend, and that should be enough.
Leslie: lowering her guard You’d be friends with a two-bit thief like me?
Miles: with reassuring confidence With a resourceful, unscrupulous marketing queen like you? As sure as Rothbard’s critique of central banking I would!
Leslie: Still don’t know what you’re on about but, spits into hand I swear by Sid Vicious’ guitar strings I’ll be your mate if you’ll be mine.
Miles: spits into his hand as well Deal. On one condition.
Leslie: What’s that?
Miles: No more stealing. Not when you’re with me. We’re a team now, and we help each other out right?
Leslie: Fine. Guess now that I’ve got stock in a major beverage company I can only go up from here.
Miles: Only pure profit from here partner!
Leslie: Then let’s shake on it.
Miles/Leslie (simultaneously): shaking hands At 20%, 30%.
Miles/Leslie: 15%, 25%.
Leslie: grips his hand You’re supposed to meet me halfway you greedy pig!
Miles: grips hers back You’re supposed to negotiate better you snotty welcher!
Leslie: grips him harder than the Federal Reserve Halfway Miles, before I unionize.
Miles: surrenders to worker’s rights Fiiiiiine, 20%, final offer.
Leslie: pops his knuckles
Miles: takes his hand back yelping ow ow ow ow ok ok, 25% 25%.
Leslie: smirks like the cocky Brit she is Pleasure doing business with you Miles.
Miles: nursing his credit card hand The pleasures all mine.
Leslie: Wait, if I can’t steal, how’re we gonna get more lemons?
Miles: Well, if we factor in the increased cost of production and labor, we have no choice but to double the price of lemonade then use the excess earnings to re-invest...
Leslie: gathering the remaining batches Yea, yea, yea I get it whatever let’s go.
Miles: watching her with non-economic curiosity Right behind you, friend.
Epilogue
Allies:
Ernst Hansel Gorbach: German-“Bavarian, but there’s only one Germany”-American, son of retired U.S. general and stay-at-home mother, “By the Kaiser!”, the most hardcore Lutheran you’ll ever meet, Aryan poster-boy, bit of a killjoy, surprisingly good singer, “Hitler was a cuck,” would simp for Wagner, slacks and tucked-in button-up shirt, 6’ 2”, “no hand-holding till marriage >:(,” 18, virgin (obviously), rugby, race-realist, HOI4, “wish I was home uniting the German tribes rn”
Belligerents:
Teenage insecurity
Scene 1: Back on the cruel streets of American suburbia.
Leslie: packing up the stand I can’t believe it.
Miles: flipping through the modest stack of money That capitalism works?
Leslie: No, that people bought lemonade for two quid.
Miles: Exactly!
Leslie: scoffs Selfish cock-up.
Miles: shrugs It’s not selfish if people buy it. Speaking of which, here’s your cut.
Leslie: counts it multiple times in disbelief (and poor math skills) Blimey, is this all for me?
Miles: It’s eighteen dollars, Leslie.
Leslie: That’s more than I’ve made all my life! I’m rightly chuffed I am, wait till my mum hears about this!
Miles: smiling I’m glad Leslie, thanks for doing this with me.
Leslie: returning the smile Happy to help Miles! Let me know if you ever wanna do… this… again.
Ernst Hansel Gorbach enters stage right.
Leslie: turns away bashfully after being rendered breathless by Aryan Prime
Ernst “Hans”el Gorbach: stops his bike in front of Miles Picking up the pieces of another failed venture, eh Miles?
Miles: Ackchyualy my dear Hanso, you just missed the opportunity of a lifetime. My newest creation was a tremendous success.
Hans: looking at the shabby remains of a shabby lemonade stand before finally noticing the weird flat-chest I’m sure it was Miles. Who’s your newest sucker partner?
Miles: Oh, this is Leslie, my business partner. Say hello, Leslie!
Leslie: turns around slowly, avoiding his gaze while robotically extending her hand H-hi.
Hans: gives her the once-over before gingerly shaking her dirty hand How do you do.
Leslie: turns away as her cheeks turn into a bed of roses
Miles: oblivious Hanso, I’m telling ya’ man. This stuff we made, perfection man, perfection.
Hans: authoritative snort Is that true, Leslie? Was the stuff actually good this time?
Leslie: Uh, y-yea. It was.
Hans: race realist eyebrow raise I see. Well, I guess I’ll have to try it some time.
Miles: You can try it after church tomorrow. You coming?
Hans: Yea, I’ll be there. Is your friend going too?
Miles: Nah, I don’t think…
Leslie: blurting I’ll be there!
Miles: socially confused But I thought you said…
Leslie: turns around That I wouldn’t miss it for the world? You bet your arse I did!
Hans: momentarily meets her eyes before casually turning away Right. Guess I’ll see you both there.
Miles: Yea, I guess you will. Coming for casserole afterwards?
Hans: getting back on his bike Sure.
Leslie: hot mess I’ll see you there too!
Hans: slow nod Cool. Catch you later Miles. It was good meeting you… uh?
Leslie: Leslie.
Hans: quietly Leslie. See you tomorrow.
submitted by thezeroinGod to Jreg [link] [comments]

The Decade in Blockchain — 2010 to 2020 in Review

2010

February — The first ever cryptocurrency exchange, Bitcoin Market, is established. The first trade takes place a month later.
April — The first public bitcoin trade takes place: 1000BTC traded for $30 at an exchange rate of 0.03USD/1BTC
May — The first real-world bitcoin transaction is undertaken by Laszlo Hanyecz, who paid 10000BTC for two Papa John’s pizzas (Approximately $25 USD)
June — Bitcoin developer Gavin Andreson creates a faucet offering 5 free BTC to the public
July — First notable usage of the word “blockchain” appears on BitcoinTalk forum. Prior to this, it was referred to as ‘Proof-of-Work chain’
July — Bitcoin exchange named Magic The Gathering Online eXchange—also known as Mt. Gox—established
August —Bitcoin protocol bug leads to emergency hard fork
December — Satoshi Nakamoto ceases communication with the world

2011

January — One-quarter of the eventual total of 21M bitcoins have been generated
February — Bitcoin reaches parity for the first time with USD
April — Bitcoin reaches parity with EUR and GBP
June — WikiLeaks begins accepting Bitcoin donations
June — Mt. Gox hacked, resulting in suspension of trading and a precipitous price drop for Bitcoin
August — First Bitcoin Improvement Proposal: BIP Purpose and Guidelines
October — Litecoin released
December — Bitcoin featured as a major plot element in an episode of ‘The Good Wife’ as 9.45 million viewers watch.

2012

May — Bitcoin Magazine, founded by Mihai Alisie and Vitalik Buterin, publishes first issue
July — Government of Estonia begins incorporating blockchain into digital ID efforts
September — Bitcoin Foundation created
October — BitPay reports having over 1,000 merchants accepting bitcoin under its payment processing service
November — First Bitcoin halving to 25 BTC per block

2013

February — Reddit begins accepting bitcoins for Gold memberships
March — Cyprus government bailout levies bank accounts with over $100k. Flight to Bitcoin results in major price spike.
May —Total Bitcoin value surpasses 1 billion USD with 11M Bitcoin in circulation
May — The first cryptocurrency market rally and crash takes place. Prices rise from $13 to $220, and then drop to $70
June — First major cryptocurrency theft. 25,000 BTC is stolen from Bitcoin forum founder
July — Mastercoin becomes the first project to conduct an ICO
August — U.S. Federal Court issues opinion that Bitcoin is a currency or form of money
October — The FBI shuts down dark web marketplace Silk Road, confiscating approximately 26,000 bitcoins
November — Vitalik Buterin releases the Ethereum White Paper: “A Next-Generation Smart Contract and Decentralized Application Platform
December — The first commit to the Ethereum codebase takes place

2014

January — Vitalik Buterin announces Ethereum at the North American Bitcoin Conference in Miami
February — HMRC in the UK classifies Bitcoin as private money
March — Newsweek claims Dorian Nakamoto is Bitcoin creator. He is not
April — Gavin Wood releases the Ethereum Yellow Paper: “Ethereum: A Secure Decentralised Generalised Transaction Ledger
June — Ethereum Foundation established in Zug, Switzerland
June — US Marshals Service auctions off 30,000 Bitcoin confiscated from Silk Road. All are purchased by venture capitalist Tim Draper
July — Ethereum token launch raises 31,591 BTC ($18,439,086) over 42 days
September — TeraExchange launches first U.S. Commodity Futures Trading Commission approved Bitcoin over-the-counter swap
October — ConsenSys is founded by Joe Lubin
December — By year’s end, Paypal, Zynga, u/, Expedia, Newegg, Dell, Dish Network, and Microsoft are all accepting Bitcoin for payments

2015

January — Coinbase opens up the first U.S-based cryptocurrency exchange
February — Stripe initiates bitcoin payment integration for merchants
April — NASDAQ initiates blockchain trial
June — NYDFS releases final version of its BitLicense virtual currency regulations
July — Ethereum’s first live mainnet release—Frontier—launched.
August — Augur, the first token launch on the Ethereum network takes place
September — R3 consortium formed with nine financial institutions, increases to over 40 members within six months
October — Gemini exchange launches, founded by Tyler and Cameron Winklevoss
November — Announcement of first zero knowledge proof, ZK-Snarks
December — Linux Foundation establishes Hyperledger project

2016

January — Zcash announced
February — HyperLedger project announced by Linux Foundation with thirty founding members
March — Second Ethereum mainnet release, Homestead, is rolled out.
April — The DAO (decentralized autonomous organization) launches a 28-day crowdsale. After one month, it raises an Ether value of more than US$150M
May — Chinese Financial Blockchain Shenzhen Consortium launches with 31 members
June — The DAO is attacked with 3.6M of the 11.5M Ether in The DAO redirected to the attacker’s Ethereum account
July — The DAO attack results in a hard fork of the Ethereum Blockchain to recover funds. A minority group rejecting the hard fork continues to use the original blockchain renamed Ethereum Classic
July — Second Bitcoin halving to 12.5BTC per block mined
November — CME Launches Bitcoin Price Index

2017

January — Bitcoin price breaks US$1,000 for the first time in three years
February — Enterprise Ethereum Alliance formed with 30 founding members, over 150 members six months later
March — Multiple applications for Bitcoin ETFs rejected by the SEC
April — Bitcoin is officially recognized as currency by Japan
June — EOS begins its year-long ICO, eventually raising $4 billion
July — Parity hack exposes weaknesses in multisig wallets
August — Bitcoin Cash forks from the Bitcoin Network
October — Ethereum releases Byzantium soft fork network upgrade, part one of Metropolis
September — China bans ICOs
October — Bitcoin price surpasses $5,000 USD for the first time
November — Bitcoin price surpasses $10,000 USD for the first time
December — Ethereum Dapp Cryptokitties goes viral, pushing the Ethereum network to its limits

2018


January — Ethereum price peaks near $1400 USD
March — Google bans all ads pertaining to cryptocurrency
March — Twitter bans all ads pertaining to cryptocurrency
April — 2018 outpaces 2017 with $6.3 billion raised in token launches in the first four months of the year
April — EU government commits $300 million to developing blockchain projects
June — The U.S. Securities and Exchange Commission states that Ether is not a security.
July — Over 100,000 ERC20 tokens created
August — New York Stock Exchange owner announces Bakkt, a federally regulated digital asset exchange
October — Bitcoin’s 10th birthday
November — VC investment in blockchain tech surpasses $1 billion
December — 90% of banks in the US and Europe report exploration of blockchain tech

2019

January — Coinstar machines begin selling cryptocurrency at grocery stores across the US
February — Ethereum’s Constantinople hard fork is released, part two of Metropolis
April — Bitcoin surpasses 400 million total transactions
June — Facebook announces Libra
July — United States senate holds hearings titled ‘Examining Regulatory Frameworks for Digital Currencies and Blockchain”
August — Ethereum developer dominance reaches 4x that of any other blockchain
October — Over 80 million distinct Ethereum addresses have been created
September — Santander bank settles both sides of a $20 million bond on Ethereum
November — Over 3000 Dapps created. Of them, 2700 are built on Ethereum
submitted by blockstasy to CryptoTechnology [link] [comments]

Mockit's List of Accomplishments

Mockit's List of Accomplishments

Please be aware most of these things were accomplished simply by Mr. Marshall Long (owner aka Luckey) and Esq. Lionel Iruke (legal advice and Head of Int. Business). Although it should be noted that others like FlexMyBuns and paid caster Izzail were crucial in standing by and supervising many of these actions.

Background on Marshall's Achievements

Background on Lionel's Achievements

Their Combined Recent Ventures

Both of these swell guys came together to embolden mockit, but also setup ranx.gg (whom those involved with haven't been payed yet due to those pesky Costa Ricans), and the TOTALLY-NOT-A-PUMP-AND-DUMP-SCHEME eboost.
But outside of these ventures, I'd like to list some of the AMAZING things this group of people has done for the RL scene.
Hint Hint: The sarcasm ends here. If any honorable, important parties are interested, I can share proof of literally everything on the following list, but I refuse to name sources to protect the identies of those involved (most of which were victims of these acts or first party witnesses and I refuse to let those people be bothered again).

Let's start from the beginning.

 

Once again, these things are mostly indicative of Lionel and Marshall (Luckey). These things may not (and most likely do not) represent the organization as a whole.

 
Edited for grammar
 
A reguraly updated copy of this post will be kept up at Fuccbois.com/mockit for those who wish to see the list grow as time progresses...
submitted by A_Lovely_Badger to RocketLeague [link] [comments]

Cryptocurrency Investors

Hello! My name is Mihail Kudryashev, I am a frontend engineer at Platinum. We are a an international STO/IEO/ICO/POST ICO consulting, promotion and fundraising company with huge experience in STO and ICO marketing and best STO blockchain platform in the world! Learn more about it: Platinum.fund Our company gained popularity after launching the world’s number one online university with only practical knowledge on crypto economics. Now you can learn how to create and develop your own ICO and STO, how to market your campaign and make it super successful. Who are cryptocurrency investors? What drives people to invest in cryptocurrency? Read the extract of the UBAI lesson to get all the answers.
Introduction to the Investors §2
In 2017, the total cryptocurrency market capitalization was approaching $850B which begs the question:
Why are investors turning to cryptocurrencies?
A survey by Blockchain Capital indicated that at least 30% of millennials would rather invest in bitcoin than invest in traditional stocks. Cryptocurrency investors, like traditional investors, expect a return at least proportionate to the risk they take. Due to the fundamental lack of regulation, incredible volatility and astronomical relative risk, many cryptocurrency investors expect to earn meteoric returns. Returns in the ranges of multiples from 200% to 1000%.
Let us first begin by examining the kinds of people who invest in cryptocurrency, and then let’s see the reasons why each of them is investing in this relatively new market.
Types of Investors
The “Newbie” Cryptocurrency Investor
This investor is just starting out. They probably have not had any significant experience in any form of investing before and bitcoin is their first experience. They have heard about people making incredible returns from cryptocurrency investing, or some aspect of the entire blockchain and crypto revolution attracts them, and they decide they want to invest too.
Unfortunately, most of the newbie investors will end up losing their money, primarily because of one specific misconception; they think cryptocurrency investing is an easy way to make huge profits. “ “Types of Investors §2
“Gambler” or “Get Rich Quick” Investor
This is the second class of cryptocurrency investor, and is actually not really an investor at all.
This type of person is out to make a fortune as fast as possible. They will fall for whatever sweet-sounding scheme they hear. They love ideas that promise to double or triple their investment quickly. Like the Newbie, they do not understand how cryptocurrencies work, and they don’t care. The difference between this kind of investor and the successful individual or professional investor is that the gambler does not care about the management of risk, or about the timing of trades.
They place their money on the table, and they hope it will make a good return. They are gambling rather than creating an investment thesis and executing a well-thought out strategy. They might even have an infectious positive attitude, but unfortunately it is not backed by knowledge or the due diligence required to be a successful investor.
A good example of this style of thinking, outside of cryptocurrency, is high yield investment plans (HYIPs) that promise to multiply an investors capital by a certain factor. This is not to say that all HYIP programs are scams, but a good number of them are. Most importantly, the investors who flock into such plans have similar characteristics to that of the Get Rich Quick investor in that they will not take the time to learn about the field in which they are investing. They are just looking for fast money and an overnight success. “ “Types of Investors §3
Short Term Traders (Day/Swing Traders)
Short term traders must, without a doubt, be the most knowledgeable investors if they are going to succeed at their chosen profession. They have, or they should have, studied the art and science of trading more thoroughly than other people. This is the kind of investor who has taken the time to learn about cryptocurrencies and the markets on which they trade. Short term traders create deliberate and timed strategies in an attempt to profit from fast market movements. Maybe many of the short term traders started off as Newbies, but these are the individuals who took the time and effort to learn about the market. They wanted to know what they were doing. These are the people who survived and thrived to grow into the type of trader that they want to be.
Interestingly, the Day Trader does not attach emotion to any given coin. They do not need to believe in the sustainability/whitepapevision/road map, etc. of the project they are buying into at any particular time. They just need to be confident about the direction and timing of the potential price movement of the coin. “ “Types of Investors §4
Long Term Investors/ Hodlers
A great majority of successful cryptocurrency investors can be most properly classified as Long Term Investors, or HODLers in true crypto terminology. These are investors who understand quite a bit about cryptocurrency and blockchain technology and believe in the sustainability of the coins in which they are investing.
Think of the first few investors who bought bitcoin in the early days and years, when it was still deep under the radar for most people. These are the people who believed in the blockchain and cryptocurrency revolution. They didn’t sell their bitcoin for fast profit, although they had many chances to do so. They knew what they were doing, holding for the long term. These early investors and HODLers enjoyed astronomical growth all the way up to 2016 and 2017. But to be a long-term holder despite all the bad news and negative factors surrounding this brand new asset class, they must have really believed that bitcoin and the blockchain were going to change the world. This belief can only be established through study and research about the blockchain industry and the specific currencies and tokens in which you are going to invest.
Follow up and learn more on www.ubai.co!” “Types of Investors §5
Sophisticated/Professional Investors
These are experts in cryptocurrency investing. They most likely have a background in other forms of trading and investing, such as in stocks, bonds or options etc. They may also be earning fees by investing or managing money for other people.
The Iconomi fund managers are a good example. Each Fund Manager manages an array of digital assets. Investors might choose Iconomi because it offers a platform for the investor to allocate funds to specific fund managers, with the ability to swap between managers instantly if the investor desires to do so.
Each fund manager selects a number of coins in which they wish to trade or invest, with specified time horizons, short or long term. Investors can buy into the array of mutually held coins. This allows investors to utilize the knowledge and experience of professional fund managers to trade an allocated pool of capital, hopefully generating returns greater than the individual investor would be able to produce on his own.
The fund managers are motivated by the fees and commissions they earn, and perhaps a performance-linked bonus. You can certainly be properly classified as a Sophisticated Investor without any need to be a fund manager for other peoples’ money. But a professional fund manager has the ability to trade with a larger pool of capital, manage complicated risk, and diversify trading strategy to generate various streams of income. “ “Between Countries
A particular country’s participation in cryptocurrencies largely has to do with the legal regulations about blockchain projects and crypto currency investment in that jurisdiction.
When China banned the use of cryptocurrency, most Chinese nationals had to withdraw their investments. Many other countries have also placed bans on the use or trade of cryptocurrencies. Countries like Japan that have allowed the use of cryptocurrencies have witnessed a significant rise in cryptocurrency investments as a result. Japan and South Korea are home to several high-traffic cryptocurrency exchanges, meaning that a notable proportion of their population is investing in cryptocurrencies.
Another way to look at cryptocurrency investment demographics is to look at the bitcoin ATMs present in each country. The United States of America is the leading country, followed by Canada and then the United Kingdom.
According to a report by Google trends, the five top countries interested in bitcoin are: South Africa, Slovenia, Nigeria, Colombia and Bolivia.
Remember, cryptocurrency demographics can be a little tricky due to the anonymity involved. Many people may be afraid to participate in surveys, especially when their governments have placed legal restrictions on cryptocurrency investing.
The main point the research seems to validate is that the demographics of the cryptocurrency investor base is diverse. While the average investor may be a white or Asian male between the ages of 26-30 with at least a university degree, the entire investor base is so much larger than that. Many big investors are likely to be significantly older, and have connections and businesses in the traditional economy as well. “ “Notable Investors in Cryptocurrency
While many people have made fortunes from cryptocurrency investing, a handful of them stand out as being particularly remarkable. We will take a more detailed look at some of the biggest investment success stories to see how they did it and learn about their investing strategy.
The Winklevoss Twins
After being awarded their settlement from the lawsuit against Facebook, the Winklevoss twins decided to invest a significant portion of their money in Bitcoin. They invested $11million of the $65million they received. At that time, the price of a single bitcoin was about $120.
This high-risk investment paid off handsomely and they became the first publicly known Bitcoin Billionaires, perhaps owning more than 1% of the total bitcoin in circulation. In an interview with Financial Times in 2016, the twins jointly said that they consider “Bitcoin as potentially the greatest social network because it is designed to transfer value over the internet”. They also pointed out that compared to gold, bitcoin has equal or greater foundational traits of scarcity and portability. “ “Notable Investors in Cryptocurrency §2
Michael Novogratz
A self-made billionaire ex-Goldman Sachs investment banker, Novogratz has invested more than 30% of his fortune in cryptocurrency. In 2015, he announced a $500million cryptocurrency hedge fund, including $150million of his own money. Novogratz believes that “the blockchain, the computer code that underpins all cryptocurrencies, will reshape finance, just as the internet reshaped communication”.
The investment thesis of Mr. Novogratz is similar to that of the Winklevoss twins. He has taken and maintains a long-term position while he trades in and out of short term moves, based on his fundamental belief in the potential and likely application of the underlying blockchain technology. By starting an investment fund in addition to his other cryptocurrency related ventures, he is demonstrating a strong fundamental grasp of the technology, including its applicability and impact across so many industries. Slide
Barry Silbert
In December 2014 after the US Marshal’s office seized 50,000 bitcoins from the Silk Road, Barry Silbert purchased just 2,000 of those bitcoins at $350 per coin. A few years later of course, those coins were worth millions of dollars.
Barry is the founder and CEO of the Digital Currency Group (DCG) a cryptocurrency investment firm. Barry also made significant profits from Ethereum Classic, purchasing the coin in its very first days. He has invested in over 75 bitcoin related companies, including CoinDesk. As founder of the Digital Currency Group, Barry endeavors to support bitcoin and blockchain companies and accelerate the development of the global financial system. “ “Directly through Exchanges
Step One: Register on a reputable cryptocurrency exchange
To start investing, you first need to register on a reputable cryptocurrency exchange where you can buy bitcoin and other cryptocurrencies. Binance is a good exchange to use in this lesson. While it may or may not be the best, it is currently the largest, and they provide a very supportive layout and customer service department.
You should remember, to buy most altcoins (cryptocurrencies other than bitcoin), you specifically need to use an exchange like Coinbase or Kraken that allows you to convert fiat currency into cryptocurrency. From there, if you want to trade altcoins not listed on that exchange, you will have to transfer your BTC or ETH to a larger exchange like Binance, and buy the altcoin you want, using whichever trading pair that is best suited (BTC and ETH pairs are most common).
As we have already explained, if you are buying Bitcoin or any cryptocurrencies, you should invest in a wallet to safely store your coins. It is not advisable to store your BTC or other crypto on the exchanges for too long, due to hacking and other risks. “ “Directly through Exchanges
Step Two: Determine your Strategy
There are different ways to invest. You need to find a strategy that works for you and your specific set of skills. The value of a cryptocurrency is not defined by a formula or something out a textbook. If everyone was able to calculate the actual value of a share of stock, for example, or a bond, or other tradeable asset, then the price on an open market exchange would never move. Buyers and sellers would know exactly how much the asset is worth, so there would be no reason to sell lower or buy higher than the actual value.
You need to come up with your own ideas and strategies to take advantage of market moves. Sometimes you will have a position that is contrary to the general market. Other times you might be trading in agreement with a majority of other market participants. Investors are basically separable into one of two groups of thinkers. Contrarian investors go against the crowd, swimming against the current; Momentum investors ride the wave feeling secure in the majority. Being different can be good or it can be bad. You do not always want to necessarily get caught up in the most crowded trade. “ “Things to keep in Mind
Bitcoin Futures
We need to mention the bitcoin futures market as another potential way to invest. Toward the close of 2017, Bitcoin started trading on two fully recognized and well-established futures markets; the Chicago Board Options Exchange (CBOE), and the Chicago Mercantile Exchange CME.
The key quote from the exchanges was “because the futures can be traded on regulated markets, it will attract investors, making the market liquid, stabilizing prices and it will not suffer from low transaction speeds of Bitcoin Exchanges.”
For a risk averse investor, this offers a safer entry into cryptocurrency investing. A futures contract commits its owner to buy or sell the underlying asset, BTC, at a set price, and at a set date in the future. The investor in the futures contract does not actually own the underlying asset, but rather is trading on fluctuations in the price of the asset over a certain timeframe, as specified in the futures contract. “ “Things to keep in Mind §2
Common Pitfalls We cannot conclude this lesson without one more look at the common pitfalls a new cryptocurrency investor should avoid.
The problem areas are: -Falling for scams by failing to carry out due diligence. -Relying solely upon self-acclaimed crypto gurus and experts. If you want to trade, you must understand how to read news and charts for yourself. -Too much Greed. Not taking profit when you should. It is better to take a 20% gain, than wait for a 100% gain, only to lose it all in the end. -Lacking an investment strategy or exit plan. -Not sticking to your investment plan or strategy. -Allowing emotions to rule your decisions. Chasing your losses. -Investing what you cannot afford to lose.
And finally, some time-tested wisdom from Wall Street: Bulls make money. Bears make money. Pigs get slaughtered every time. (Don’t be greedy!)
We cannot overemphasize the risk involved in cryptocurrency investing. The potential to make huge gains over a short period of time does not come without risk. There is no doubt that significant players in the global financial markets are entering the cryptocurrency markets too. We are likely to witness more and more government authorities trying to regulate cryptocurrencies, hopefully to the overall benefit of a healthy market. It seems safe to say we will see cryptocurrencies become more mainstream due to the intense interest from the traditional financial industry and institutional investing community all over the world. What are better ways to successfully invest in cryptocurrencies? Which pitfalls should you avoid? Learn all on successful ICOs and STOs after reading the full lesson: UBAI.co How to start your STO/ICO campaign in 2019? Contact me via Instagram, Facebook, LinkedIn to know more about our education: Facebook LinkedIn Instagram
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Released List of Satoshi Roundtable Attendees Gathering this Weekend

Satoshi Roundtable II
This weekend a group of blockchain and bitcoin industry leaders gather again for the Satoshi Roundtable (satoshiroundtable.org) retreat. Participants in the second Satoshi Roundtable include developers, CEOs, investors, adopters and influencers from the blockchain and bitcoin world.
The retreat is limited to approximately 75 attendees and designed to encourage organic, participant-driven discussion free of the distractions of a conference.
Sessions include several topics of overall blockchain interest and a roundtable discussion on bitcoin capacity.
Please provide any suggestions you have for areas of discussion/ focus.
Partial list of confirmed participants:
Gabriel Abed, CEO, Bitt Charles Allen, CEO, BTCS Gavin Andresen, MIT / Bitcoin Foundation Adam Back, President, Blockstream David Bailey, CEO, yBitcoins Mike Belshe, CEO, BitGo Patrick Byrne, CEO, Overstock / T0 Michael Cao, CEO, zoomhash Dave Carlson, CEO, Mega Big Power Daniel Castagnoli, CCO Exodus Sam Cole, CEO, KNC Miner Matt Corallo, Core Developer Luke Dashjr, Core Developer Anthony Di Iorio, CDO-Toronto Stock Exchange, Founder-Ethereum/Decentral/Kryptokit Joe Disorbo, CEO, Webgistix Jason Dorsett, Early Adopter Evan Duffield, FoundeLead Scientist, Dash Andrew “Flip” Filipowski, Partne Co-Founder, Tally Capital Thomas France, Founder, Ledger Jeff Garzik, Founder, Bloq Yifo Guo, Tech Develope Early Adopter David Johnston, Chairman, Factom Samy Kamkar, Super Hacker Alyse Killeen, Partner, Venture Capital Investor Jason King, Founder, Unsung Mike Komaransky, Cumberland Mining Peter Kroll, Founder, bitaddress.org Bobby Lee, CEO, BTC China, Vice-Chairman of the Board, Bitcoin Foundation Charlie Lee, Director of Engineering, Coinbase/Founder of Litecoin Eric Lombrozo, Founder, Ciphrex Corp / Developer Marshall Long, CTO, Final Hash Matt Luongo, CEO, Fold Jake Mazulewicz, Ph.D. JMA Associates (guest speaker) Human performance researcher Halsey Minor, CEO, Uphold / Founder of CNet Alex Morcos, Hudson Trading/ Core Developer Neha Narula, MIT, Director of DCI – Digital Currency Initiative Dawn Newton, Co-Founder, COO, Netki Justin Newton, Founder CEO, Netki Stephen Pair, Co-FoundeCEO, BitPay Inc. Michael Perklin, President, C4 – CryptoCurrency Certification Consortium / Board Member, Bitcoin Foundation Alex Petrov, CIO, BitFury Phil Potter, CFA, Bitfinex Francis Pouliot, Director, Bitcoin Embassy, Board Member, Bitcoin Foundation JP Richardson, Chief Technical Officer, Exodus Jamie Robinson, QuickBt Jez San, Angel Investor Marco Santori, Partner, Pillsbury Scott Scalf, EVP/Head of Tech Team, Alpha Point Craig Sellars, CTO, Tether Ryan Shea, Co-Founder, One Name Greg Simon, CEO & Co-Founder Ribbit! Me / President, Bitcoin Association Paul Snow, CEO Factom, Texas Bitcoin Conference Riccardo Spagni, Monero Nick Spanos, Founder, Bitcoin Center NYC Elizabeth Stark, Co-Founder & CEO, Lightning Marco Streng, CEO, Genesis Mining Nick Sullivan, CEO, ChangeTip Paul Sztorc, Truthcoin Michael Terpin, CEO, Transform Group Peter Todd, Core Developer Joseph Vaughn Perling, New Liberty Dollar Roger Ver, CEO, Memory Dealers / Bitcoin.com Aaron Voisine, CEO, Breadwallet Zooko Wilcox, CEO, Z Cash Shawn Wilkinson, Founder, Storj Micah Winkelspecht, CEO, Gem
Also, representatives from Blockchain, Bain Capital Ventures, Mycelium, Fidelity Investments and others.
submitted by bruce_fenton to Bitcoin [link] [comments]

[OC] Nineteen thousand

“Whiskey and water. Leave the bottle.”
The bartender produced the required glassware along with a flask of amber fluid, but made no move to open it and continue the procedure. After a few seconds of letting him stare at me, I sighed and dug out a bitcoin spear, twirling it between my fingers letting it drop onto the counter. The bartender performed a magic trick and made it disappear into a reader, eyebrows threatening to climb off his bald head at the number of zeroes on the tiny screen. Cash on the barrelhead always trumped whatever initial impression I made when walking into a new place.
Quick as a wink the previous bottle was replaced with something a bit more top shelf - probably from his private stash - along with a bowl of cashews and dried wasabi peas. I didn’t care, top shelf was probably more than I deserved. Not that I was about to turn down the wasabi peas, mind you - they just weren’t the reason I came here. I was here to drink.
And drink I did. A lot. A sip of whiskey each for those that marched in didn’t make it back out. Nineteen thousand brave men and women who went to the wall and held it, held it hard, just so that the rest of the world could keep on living. Heros each and every one of the, the best and finest soldiers I had ever served with.
All dead. All dead. All because they followed me.
The face that stared back at me from the mirror over the bar looked nothing like the man I remembered. This one had a haunted look of someone who had seen too much and couldn’t sleep afterwards. A man who drank to excess in an effort to forget and was failing miserably at it, but kept trying anyways. A man that led his troops into battle and wound up most of them killed. A man who stumbled out of the war zone, gathered up what was left, and led the charge back in. A man who sacrificed the finest men and women on the planet, but got the job done and lived to talk about it.
I hated the man that looked back at me. I hated the fact he had been showered with medals and commendations and called a goddamn hero. He - I - didn’t deserve any of it. The ones that did got nothing but their name on a wall and an email full of platitudes to their families back home. A pittance to remember someone like Private Alimah Kerr, screaming as she unloaded her service weapon into the face of the thing that was chewing her leg off. Or Specialist Robert Hue who stood his ground as the aliens advanced, refusing to yield until he too disappeared under a wave of slobbering blue-green flesh before finally detonating his remaining grenades.
The finest Humanity had to offer. And nobody to remember them but me and a handful of others that had walked away and then paraded in front of the media. Bastards, each and every one of us. Especially me.
Survivor's guilt, they called it. The shrinks tried to convince me that I wasn’t at fault, but I knew better. They hadn’t been there, up close and personal with the aliens that came pouring through the gateway, howling and screaming for Human blood. Every single last one of them a whirling murder machine, all legs and claws and teeth, a dripping nightmare from the depths of hell. The good thing was they died just as easy as we did - only there was a lot more of them.
The gateway had been yet-another attempt to create a working FTL system. In that regard, it is was a roaring success - and if the creator had survived the initial incursion, he would have won a Nobel Prize. Instead he became xeno chow along with rest of the scientists. The idiot never considered that there might be something waiting for us on the other side, ready to jump through and start fucking things up. Without thinking, he just opened a goddamn doorway to hell and invited the bastards in, leaving the rest of us to fight our way towards the portal and slam the thing shut before something worse came through.
We won, of course. But it was a victory bought and paid for dearly, one bloody step at a time.
I continued to drink, mentally calling out names with each sip. Victoria Smith. Mark Belzar. Sigivald Elwin. Andy Paz. I had memorized each of the nineteen thousand I led into battle and then left behind. Good men and women. I wish I could count myself among them. Instead I was left with nothing but their names and a fat bank account, courtesy of early retirement. That, and the memory of how I had took them right up to the gates of hell and told them to keep going. Their great commanding officer, the one they looked up to and expected to bring them home, safe and sound. But in the end, I wound up escorting them right to the gates of hell. If it made any difference I was right there with them, every step of the way. Lead from the front was always my motto. Do as I do, like this, here, you try. They loved me for it, and I loved them back, all of them. One big trigger-happy family.
I waved at the bartender for another bottle, and he swapped out the empty one for me, setting another decanter of water next to it. I refreshed my glass and snorted at the label. “None Better” it proclaimed, in flowing gold script, winner of the ‘52 international. Perhaps. I couldn’t tell - it all went down the same, burning a line from my mouth to my gut like a tracer bullet. The soft bloom of warmth when it hit was a welcome relief, dulling the pain. If only it could dull the memory of what happened.
We had been out doing maneuvers - mostly a show of force to remind everyone that the UN was serious about keeping the peace - when we got an alert indicating a hostile force at a nearby research complex. The day had been going good and I was pleased with how the troops were performing and gave the order to re-task and take back the facility. I assumed it was yet another terrorist action, a bunch of fucking losers following some jackass who thought he was the seconding coming and wanted to prove it by blowing shit up and lopping off heads. What those guys hope to accomplish by all of that is beyond me. Still, they always seemed to be able to gather supporters from those that had nothing else better to do. I guess vague promises of a glowing afterlife was better than dirty villages and crappy TV.
On the surface it seemed like a run-of-the-mill op, just like all the others that we’ve been doing since the UNSOF was formed. Somehow the insurgents had managed to slip in and take over the lab before anyone noticed - which meant overwatch had been slacking off and needed a kick in the ass. I figured it would all be over pretty soon and the grunts could look forward to some well-deserved R’n’R afterwards while us command-types filled out paperwork. Just another day at the office, one step closer to retirement and that 30-foot boat I’d been daydreaming about. A little shock and awe and everything would be right on our corner of the world. Give the kids something to bullshit the starry-eyed civvies with back in town, maybe enough to impress the locals to come back their place and get all sticky together. I was just glad we mandated strict birth control, religious and cultural affiliations be dammed.
The first indication it was not a terrorist group was when the incursion team breached the outer doors and started screaming. The whirling mass of death that came storming out tore into the team like a starving man at a buffet. To their credit, they stood their ground and gave as good as they got until backup arrived and provided supporting fire, splattering the shit out of whatever it was before recovering our dead and wounded.
I gave the order to move in and secure the facility, assuming that whatever had torn Alpha team to ribbons was some unsanctioned animal experiment that got loose. It was only after we lost both Bravo and Charlie did we realize it wasn’t animals we were dealing with but a whole new life form, one that really enjoyed snacking on humans. By the time the rest of the division showed up to provide much-needed support we were down to less than a hundred functioning soldiers and had nothing to show for it.
The UNSOF trained and outfitted some of the best soldiers on the planet, and we were experts at enforcing the peace or dealing with the odd armed insurgent, but an actual alien invasion was a little outside of our bailiwick. But we were also never one to back down from a fight, especially one where the fate of the world hung in the balance. The extra firepower allowed us to force our way through the swarms of aliens that just kept coming and coming. Sergeant Iva Magdalene joked with Private Sam Lammert that it was like some sort of video game and wondered if there was a boss level. That was the last coherent thing I heard from her team, screaming and the sound of gunfire saturating the radio channel shortly afterwards.
The bar was starting to fill up, the afternoon working class crowd shouldering their way in and talking loud. Friends backslapping each other, yapping about sports or the latest movie or how the new foreman was an idiot. I ignored them and stayed on my perch, nailed there by a continual supply of whiskey and spicy dried peas. I blinked and the empty bottle magically replaced itself, the bartender swapping it out as he moved by. I took that as a good sign and poured myself another, sipping it as I mentally counted out the names.
Afonso Lefteris. Castor Theudemar. Rodrigo Neely. Arcadia Frantziska. Coco Yana. Lesha Teagan. Dan Dorin. Cassandra Goldburg. All gone, just names on a wall somewhere now, destined to be part of a school field trip where bored kids stand around and fidget as their teacher tries to jam some history between their dirty ears. Not one of those kids or their teacher will care Cassandra wrote dirty Harry Potter vampire fan fiction, Rodrigo had been studying to be a lawyer, or that Dan moonlighted as a classical guitarist. Each one had a future and a life ahead of them that was wiped out when I sent them off to die.
And every last one of them went willingly. Confident, strong, proud. A credit to the uniform. A uniform I no longer felt that I had the right to wear.
I set my empty glass down with exaggerated care, uncertain of where the tabletop was, my enhanced liver working overtime to process the influx of alcohol. The thunk told me I had made it successfully, and I let go of the glass and stared into it, the slowly collapsing film of whiskey that clung to the side a reminder of the gateway at the epicenter of the invasion.
The egg-shaped device looked like wet glass, the distortion rippling between complicated armatures keeping the field open. It had taken six hours of constant fighting, some of it hand-to-hand, before we gained access to the chamber housing the gateway. Behind us we had left a trail of bodies, both ours and theirs, some of them stacked three deep. The stench of death mixed with the smell of cordite and burnt railgun coils. I had lost track of my own weapon some point, picking up a discard and using that instead. The stock was crusted in dried blood, some of it mine, most of it alien where I had used it as a club. My continual requests for more support and heavy equipment were being shuffled around and put off, nobody willing to believe the reports being sent in. Those of us on the ground were resolved to end this here and now, holding the first, last, and only line of defence between Humanity and the growling alien mob.
By this point we had all gotten pretty good at figuring out what the alien’s weak points were - head shots fucked them up pretty good, but they’d just barrel along until you took out the heart-thing located in their ass. Someone told me later they were like bees, putting their vital bits in back and responding to a queen. I stopped eating honey right after that.
Being more efficient at killing was not that helpful when the enemy force seemed to have an unlimited supply of bodies to throw at us. At some point we were going to run out of ammo - we had been scavenging what we could off of our dead comrades, exhaustion and terror keeping us from feeling bad about it. I kept sending soldiers out in twos and threes to search the surrounding areas and bring back what they could. Sometimes they came back missing a team member. Sometimes they didn’t come back at all.
I added them to the list of dead that I was responsible for and kept pushing forward.
The bartender came over and gave me a look, judging if I was at the point where he should consider cutting me off. I held out my hand to show that it was steady - surgeon's hands, my mother called them - and nodded, my fancy liver having already dealt with the booze. He reluctantly complied and poured a drink for me from a new bottle - my third, I think - before moving down the bar to take care of someone else.
I kept drinking and counting off the names.
Our first clue we were getting closer to the center of the invasion was a change in the mix of xeno types. Before it was just nasty critters that would attack en-masse, but these were more upright and started to sport weapons of their own. They also started to show a level of unit cohesion that was downright disturbing. We figured out pretty quickly that they were also responsible for directing the mass of smaller xenos, so killing them became a top priority. Same general body layout as the rest, so popping a round in their ass worked wonders.
By this time we had finally figured out what the hell this place was and command had bought into our doomsday scenario - but were seemingly incapable of making a decision on what to do about it. I lost three men - Williams, Carine, and Renáta - as I hunkered down and got into a screaming match over the vidphone with a four-star general who had never seen live action before. It was only until I broke off to club a snarling mass of alien flesh that tried to eat my face did they get the message how dire the situation was. Nuclear weapons were off the table - even if we could get the release codes, the fallout would poison a large chunk of valuable farmland and wreck the underlying aquifer. The only available units with bunker busters or MOABs were hours away, about the same time as any heavy artillery that could punch through the walls.
That left us with jack and shit, along with a dwindling number of functional soldiers who were running short on ammo and adrenaline.
So we did what we were trained to do - we kept fighting.
And kept dying.
My upgraded liver had finally done its job and processed most of what I drank into hydrogen and energy, feeding a process that cracked the rest into more base components my body could use. Very little alcohol actually made it into my bloodstream, and what did was filtered out quickly and excreted in the normal manner. The upshot was I could generally keep drinking for as long as my bank account held out - which these days meant practically forever.
One side effect of the upgrades is that I tend to sweat more than normal when I drink, which is hell on my clothing and contributes to the sad state of my personal hygiene. I honestly don’t care - that’s what laundry service is for. As for the smell, it kept the seats next to me clear, which let me focus on more important things. Like drinking and remembering the dead.
So when someone invaded my personal space by sitting down and greeting me by name, I was totally unprepared.
Fuck. Robbie.
The promised support was going to be a long time in coming - most of what we needed were scattered around maintaining the peace or on a ship somewhere. Nobody expected some idiot to throw a complete division of troops and material into a meat grinder and then ask for more.
We knew we were in the right area when we killed a dozen of the Walkers - what we started calling the upright fighters - all stationed around a hanger-like door that had been forced open from the inside. A quick peek around the corner showed the room inside was filled with critters of various sizes, all milling around the gateway that kept pooping out more. I could see a dozen or more Walkers arranged in front of it, gathered in a loose circle and waving their hand-things around in some sort of ritual fashion. I didn’t know if they were holding a seance and talking with Great Uncle Charley or just discussing the weather, and frankly I didn’t care - I just wanted them out of the way of our objective. Once we shut the gateway down I was certain that all of our problems would be solved and we could call it a day. Maybe even get out this in time for dinner.
“Eugen, Pyotr. Take a squad each and scout left and right of our position. Look for power conduits big enough to power that thing. Sing out if you run into trouble. Go.” Two dozen men and women scampered off without a second thought. “Mansel. You and yours hold here with me. The rest, fan out and grab whatever ammo you can find. Return in five minutes.” Sixty soldiers ran down the hallways in groups of sevens and eights to find whatever they could, coming back within the allotted time. One ran into a pack of xenos and used up what ammo they had, returning empty handed. We parceled out everything the best we could. I kept as many railgun coils as I could carry and handed the rest to Robbie, who had the other functioning railgun. The rest were armed with upgraded SAR29’s and were ready for blood.
Pyotr called in saying they had found a power cable that looked promising - it was certainly big enough and had warnings in six languages. Eugen hadn’t reported in and wasn’t responding to coms. I was hoping it was just because their radio was broken or the signal was blocked, but we all knew in our guts they were gone. More names to add to the list of brave men and women I had sent off to die.
I ordered Pytor to cut the cable, which should shut down the gateway and prevent the aliens from bringing in any more reinforcements. As soon as that happened we were going to storm the room and kill every last stinking xeno. No survivors, and no Geneva convention to tell us different.
It sorta kinda worked.
“Whatcha drinking, Colonel?” Robbie asked me, as if everything was normal and it was just another day in the neighborhood. The rest of the bar hooted and hollered, someone sinking a clever shot on the pool table.
“Whiskey. Get’cher own,” I growled back, taking a drink and pretending to ignore his presence. I was in no mood to share, particularly not with him. “And I’m retired.”
The last time I had seen Robbie he was missing a hand along with a chunk of his face. The surgeons had done a good job on patching him back together. Hell, they had done a good job on everyone that made it out, myself included. They had to - if they showed the world what it really took to beat back an alien invasion, recruitment numbers would plummet to near zero. So broken bones were set, mangled limbs and organs were repaired or replaced, plastic surgery was scheduled. The scars were erased, but for some of us, they went too deep for any amount of medical care to fix. On the surface we looked and acted human, but inside some of us were more plastic and ceramic and high-tech gear than flesh and bone. But we looked good on TV, which is what really mattered.
Robbie signaled for a beer, which the bartender obliged. “Put it on his tab,” he said, jerking a thumb at me. “He doesn’t mind.”
“What do you want, Robbie?” I asked, waving a hand at the bartender to say it was okay. “Not like we parted friends last time I checked.” Words were exchanged, most of them heated. We didn’t come to blows, but damn near could’ve.
“Things change. You were angry, blaming yourself for everything that happened.” Pointing at the line of empty bottles, he added, “looks like you still do.” I grunted in agreement and continued to drink. Robbie wouldn’t shut up and kept at it. “Still doing that thing where you go over the names of everyone that didn’t make it out?” I turned my head slowly towards Robbie, fixing him with a hostile stare. It was his turn to ignore me and he blathered on. “What’s the count again? Oh yes, nineteen thousand. I hear they are going to make a documentary. Want to be in it? They can use a sad sack of shit. Be right up your alley.” He shut up and took a drink from his beer, not realizing the amount of control it took not to punch his smug face in.
I thought he was done talking but he started right back up again. “Believe it or not, I have been and always will be your friend. Maybe you forgot that, but I never did. Which is why when you walked away I didn’t, even if I wanted to. Someone had to stick around and pick up the slack. So while you’ve been drinking more than humanly possible and blaming yourself, I - we’ve - have been figuring out what happened.”
“I know what happened. We went in and got blown to hell,” I answered, lifting my glass. “Most of a division wiped out on my orders. But we got the job done.”
Robbie hit me with a sucker punch. “Who said the job was done?”
Pytor’s team took down the power cable as ordered and we came in guns blazing. The gateway was going crazy from all of the ordinance flying around and its power supply being interrupted, but it wasn’t shutting down. Either there was a secondary conduit somewhere or a backup generator providing juice. I had a momentary worry that whatever ritual the Walkers had been doing was keeping it open, but they wasted no time in jumping into the fray, dispelling that notion.
Our first order of business was taking the Walkers out - without them providing guidance, the rest of the xeno swarm should be easy. Great idea, but they weren’t going down without a fight.
Robbie and I fought back-to-back, railguns close to overload as we fired round after round, punching through aliens four at a time. The rest of the remaining company of soldiers burned through ammo like it was going out of style. Someone yelling “grenade!” caused us all to duck, the bang of it going off followed by the whistling sound of shrapnel and someone screaming. Turns out it was me. A chunk of metal made it past my armor and lodged in my gut, tearing things up pretty bad.
“Power souce!” I called out, doing my best to ignore the pain and stay upright. “Find the goddamn power source!”
And incoherent shout drew my attention to Corporal Mahmud Paz, who was pointing at a unit mounted on the far side of the bay that was being guarded by three Walkers and a bunch of their pets. That looked like a fine place to have some target practice, and anyone who wasn’t directly engaged with staying alive moved in closer.
Before we got there something came through and started to tear us a new asshole. Robbie and I ganged up on it and turned it into Swiss cheese, but not before it had wiped out twenty men and women we couldn’t afford to lose.
“We’re fucked!” he gasped, the side of his face that wasn’t hamburger pale from blood loss. I was inclined to agree, but wasn’t ready to throw in the towel just yet.
“No we’re not,” I said with confidence I didn’t really have, eyes tracing the line of wrist-thick cables going from the generator to the arms of the still-functioning gateway. “There. Hit it there,” I ordered over the command channel, lighting up a junction with the laser targeting system. I followed through by reloading a coil and chunking off rounds, the railgun rapidly warming up in my hands, heading towards a critical overload.
The remaining troops did the same, just as the Walkers realized they were about to be cut off from whatever hell they called home and broke ranks to try and stop us. Robbie’s railgun failed after five more rounds, the final shot warping the barrel and exploding, taking his right hand with it. The rest of us kept firing, spraying and praying we’d finally punch through and hit something important.
Eventually we did.
“Of course I am. Shut the gateway down, killed all the xenos, exfil’d back to base. World saved, all that jazz.” I took a big slug of whiskey and poured some more, skipping the water this time around. “You were there as I recall. Didn’t look as good as you do now.”
“The miracle of modern medicine. So here’s the deal. We managed to salvage the research and rebuild the gateway. Now hold on, lemme finish. Smaller this time, lower power, double isolation chamber, failsafes, the works. Just big enough for some probes to go through without being detected. Guess what we found?”
“Your virginity?”
“Close, but no cigar. Worlds. Hundreds of worlds. And on all of them, dead civilizations, wiped out by the sames bastards that attacked us. Research managed to translate some of what they found and figured out that every time a species build a gateway, these things come through and wipe them out.”
“But not us,” I grunted.
“But not us. And it gets better.” Robbie looked around and leaned over slightly before continuing in a lower voice, like he was imparting some great secret. “We found their home world.”
The Walkers and their remaining pets tore into us just as the power junction let go, causing the gateway to collapse in a soundless explosion of light and fury. The best part was that it sent the aliens reeling, making them easy pickings. By the time our reinforcements arrived we had bandaged our wounded and crawled out of the rubble, seventy three survivors out of a division of almost twenty thousand.
Fresh air never smelled so good.
I fully expected to be court-marshaled for taking such devastating losses and not calling for a retreat. Instead what I got was commendation after commendation, so many they had to create new combos just so I wouldn’t run out of chest area to display them all. I suspected that it was all a put-up job, but couldn’t get anyone to admit it. Everyone kept telling me how great I was and how I had done the impossible against incredible odds. I had so much smoke blown up my ass I thought I would get lung cancer. After a while I couldn’t take it anymore and turned in my paperwork and resigned, leaving the uniform and the job behind - the only thing I had known for most of my adult life.
I never did buy that boat.
“Explain,” I ordered, giving Robbie my best Don’t Fuck With Me glare. He pretended it didn’t work on him but answered anyways.
“Just like I said. We found the planet they come from. Easy, too. If you don’t know enough to plan ahead the gateway naturally lands there, like a default setting. Then our buddies swarm through, kill everyone, and leave. Lather, rinse, repeat. Break the laws of physics, get eaten.”
“Well that sucks,” I observed, taking a pull from my glass. “But you never answered my question, Robbie. What do you want?”
“We - I - want you. We’re building a bigger gate, one that can send a division or three through. We want to take the fight to them, wipe them out for good before they can do the same to another species. Give the rest of the universe a chance to get off their own rocks and make something of themselves.” Robbie cleared his throat before continuing, “but we need a leader. One that can make the hard choices even if it tears him up inside. One that keeps going and going, putting his ass on the line every single day and inspiring others to do the same. One who knows how to fight these things and win. No matter what it takes. No matter what it costs him personally.”
Robbie put his hand on the top of my glass, and forced it back down to the counter top. “How about it, Colonel? Wanna get some payback? Maybe make those names of yours mean something other than an excuse to wallow in your self-pity?” I didn’t say anything and stared at the reflection of the man in the mirror. “Don’t do it for me. Hell, don’t do it for yourself. Do it for them. For the nineteen thousand. Make their deaths be more than just names on a wall somewhere or a glass in your hand. Don’t walk away this time and hide in a bottle,” he pleaded, hand still covering mine and holding the glass of liquid memory eraser on the countertop.
As I watched, my reflection shifted for a moment, showing me the man I used to be. A man deeply ashamed at what he had become - a drunk, a loser. A man that thought there might be something still inside worth saving, who had never really given up on either of us or what we had once believed in. A man who wanted a second chance to make up for his mistakes.
“Weapons?” I asked, my voice quiet and lost in the background noise of the bar. I had hoped Robbie didn’t hear, but they must have fixed his ears, too.
“New SAR31’s. Better fire control, larger magazines, bigger punch. Railguns have been improved, too. No more losing fingers,” he said, waving his replacement hand around, the synthflesh blending seamlessly into his wrist. “Got some prototype plasma casters that look promising, if you want’em.”
“Armor?” louder this time. No use pretending any more.
“Dragonskin v8. Interlocking plates. Takes a licking and keeps on ticking. Carry weight has been dropped by half, more flexible. Think chainmail that’ll stop a rocket.”
I stared at the mirror. “Resupply? Air support?”
“Done and done. Trust me, I was your XO for six years before you walked away. I know what you’re going to ask before you ask it. We’re locked, cocked, and ready to roll. Only thing missing is you. The key part to the whole shebang.”
I drummed my fingers on the countertop, trying to think of something to trip him up, and give me an excuse to say no. The bottles called out to me, and I really wanted to get back to my drinking. I finally played my ace card and said, “fine, but I want Kitty,” referring to the best damn sniper I had ever had the pleasure to work with. The last time I spoke to her she was happily retired and living on a beach, having traded in her scope for an endless supply of cabana boys and surfers. She was out for good, no way in hell Robbie had managed to lure her back in.
Robbie threw back his head and laughed, attracting the attention of the entire bar and proving me wrong. “Deal! She’s tanned, toned, and ready to kick ass. Even brought some promising new recruits with her. So what do you say Colonel, ready to get back to work? Maybe bring some peace to the universe, make a real difference again?”
The names were a silent presence, floating around in the back of my mind. I realized in that moment of pure absolute clarity that I had been wrong, so very wrong. The names of the men and women that had followed me to hell and stayed there were not a burden or a curse but a blessing. They had not been dragging me down or holding me back - I had. They were there to lift me up, keep me going, push me forwards. Knowing each one of them had been an honor, and I would never forget their sacrifice.
I shoved Robbie’s hand off the glass and tossed it back before standing up and giving the mirror the evil eye. My reflection looked back at me, pleased for the first time in ages. I made a silent vow to carry the memories of those men and women to the farthest reaches of the universe and make their deaths count by tearing the xeno homeworld down, brick by bloody brick, until the galaxy was free from the threat they posed. I could feel the names, all nineteen thousand of them, milling around, tired of excuses and eager to get on with it.
Nineteen thousand. Plus one more.
Mine.
submitted by j1xwnbsr to HFY [link] [comments]

Top 5 Secrets For New Bitcoin Investors

While Bitc0in investing can be intimidating for those just getting their feet wet, there are several tips that newcomers can use to maximize their chances of success.
By following the top five tips listed below, investors can boost their chances of meeting their goals.
1) Do Your Homework
First and foremost, investors just getting started with Bitcoin need to do their homework.
"The more you understand the better off will be," stated Pawel Kuskowski, CEO & co-founder of Coinfirm, a blockchain and regulatory technology firm.
He emphasized that "bitcoin offers a unique and rare opportunity, but needs to be treated accordingly."
As a result, more than one expert encouraged newcomers to dive into Bitcoin's underlying technology.
"If you have any technical bent whatsoever, take 10 minutes to leaf through the original 2008 Satoshi white paper," stated crypto fund manager Jacob Eliosoff.
"It's only 8 pages, legible and an inspiring work of genius!"
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Lucas Geiger, founder and CEO of Wireline, offered similar guidance, stating that investors should be sure to have a strong grasp of the blockchain, the distributed ledger system that underlies all digital currencies.
"This may seem obvious, but I think the first thing is take time to understand the blockchain," said Geiger. "I say this strongly, because few people will do this."
"If you don't have a high level understanding of how a blockchain stores secure data (such as coins), then you are investing in the equivalent of tulip bulbs," he added.
Since learning about Bitcoin can take time, newer investors might benefit significantly from working with a mentor, emphasized Adam Nestler, CEO of Kudos, a decentralized protocol for building a fair service economy.
"Find a trusted person or resource that you can engage with to ask questions in order to understand the nuances of your investment in a safe environment," he said.
Be careful when investing in digital currencies. Shutterstock
2) Proceed With Caution
Risk is inherent to investment, and investors should keep in mind that digital currency is in a very early stage of development when compared to similar asset markets like the stock or bond markets.
"This is still an extremely high-risk space," emphasized Eliosoff. "Don't invest money you can't afford to lose!"
While these considerations can be quite helpful, some experts provided more specific guidance.
"Start small, and invest a small portion of your capital," suggested Marshall Swatt, a serial entrepreneur.
Tim Enneking, managing director of Crypto Asset Management, offered tips for entering positions.
"Don’t chase Bitcoin prices. Decide on a entry point and stick with it," he said. "With Bitcoin, you’re almost always right in terms of foreseeable price action – it’s your timing that might be off. So, be patient, and let the Bitcoin price come to you."
Once Bitcoin has reached the right price, Enneking suggested that investors refrain from buying their Bitcoin all at once. Instead, they should "stage in and stage out," meaning they should invest a little at a time, wait for a bit, and then invest some more.
Effective diversification can prove highly beneficial. Shutterstock
3) Diversify Effectively
Over the last several years, Bitcoin has produced some very impressive gains, and media outlets have developed a steady stream of stories about "Bitcoin millionaires."
While these stories might tempt an investor to put all their money in Bitcoin, keep in mind that no investment professional would advise an individual to put all their eggs in one basket.
When creating a diversified portfolio, investors could consider altcoins, more traditional assets such as stocks and bonds, or both.
The basic idea behind diversification is creating a portfolio where a decline in one component will correspond with an equal gain in another.
For example, let's say an investor has a simple portfolio, consisting of equal amounts of Bitcoin, Ether, Litecoin, Ripple and Bitcoin Cash.
If one digital currency falls 10%, then ideally, another digital asset will rise by the same amount.
Oliver Isaacs, a tech entrepreneur, emphasized that if an investor set up a diversified crypto portfolio and Bitcoin's price suddenly fell to $0, they would still be able to invest because their altcoins would still have value.
"Hedge Against Volatility and don’t put all of your eggs in one basket," he stated. "Much like investing in the stock market or FX, you should diversify your funds as a risk management technique."
When picking out altcoins to incorporate into portfolios, investors need to be careful, emphasized Robin Bloor, senior VP of strategy & communications for software provider Algebraix Data.
"There are a vast number of other active cryptocurrencies (hundreds)," he noted. "Remember that most of them can be thought of as start-ups and most start-ups fail.
As a result, conducting thorough due diligence is crucial, stressed Bloor.
"You need to research the business model in detail for any coin or token you are considering and then carry out due diligence - in terms of current funding, pedigree of the leadership team, original technology, marketing plans, product plans, product maturity and so on," he stated.
Wallets can be a very safe place to hold your digital tokens. Shutterstock
4) Keep Your Coins In Wallets
While exchanges are a great place to purchase digital currencies, they may not be the best place to hold such assets.
"Don't store coins on an exchange," emphasized Eliosoff. "In Bitcoin's short history many, many exchanges have gotten hacked," he noted.
"It's fine to buy on an exchange like Coinbase, but then move your coins into an online wallet like https://blockchain.info/wallet/, a mobile wallet like Jaxx or Coinomi, or create a paper wallet - all free and pretty easy," said Eliosoff.
Investors can take further action to manage risk by using both hot wallets (online) and cold wallets (offline), emphasized Matthew Unger, founder and CEO of iComply Investor Services inc.
"Just like you keep some cash in your wallet, some in your bank account and perhaps the really valuable stuff in a safe, you need to manage digital currencies in the same way," he stated.
Volatility is very common in the crypto markets. Shutterstock
5) Prepare For Volatility
The digital currency markets are notoriously volatile, and there are several strategies that investors can use to manage the inevitable price fluctuations.
One strategy, diversification, is covered earlier in the article.
Another strategy, buy and hold, has been advocated by a great many financial gurus, including legendary investor Warren Buffett.
"Buy-&-forget is the right strategy for most investors," stated Eliosoff.
"Resist the temptation to make short-term bets, to 'sell at the top', to get in at the cheapest price," he said. "Most people who try this stuff underperform simple buy-&-hold."
Gavin Yeung, founder and CEO of digital asset management firm Cryptomover, offered a similar point of view.
"We at Cryptomover believes that a passive investment style will outperform active strategies in the long term," he stated. "Not only is passive investing inexpensive and simple, it also lowers trading fees leading to much lower operating expenses."
Disclosure: I own some Bitcoin and Ether.
submitted by Orozu26 to u/Orozu26 [link] [comments]

With all the good news, and increasing development in the bitcoin ecosystem, why is the price so low?

1) Fact : Most of the mining ( production of bitcoin ) is in China. 2) Fact : Chinese citizens are legally discouraged and disabled from investing in bitcoin. 3) Fact : Whenever there is a large cache of bitcoins for sale ( us marshall tender ) it is bought out. 4) Fact : Development of the bitcoin ecosystem and major future bitcoin companies is in the USA.
Fact number 3 tells us that there is a latent pool of funds waiting to be invested into bitcoin but any movement by these funds in acquiring bitcoins on the open market will drive up the price considerably. Best strategy is to short and acquire gradually.
Fact number 1 and 2 tells us that the chinese miners are at a disadvantage as they do not have a home market. When they did the price reached $1000. If this situation changes we can expect to see the moon guys celebrating. Most of the trading on the chinese market is algo trading with very little real net volume movement in bitcoins. I believe much of the sales of bitcoins are done through agents in foreign countries (localbitcoins) and direct person to person trade.
Fact number 4 is that every man and his dog who knows about bitcoin is bullish long. If bitcoin was a stock like Uber or AirBnB the price will be reflect it's future potential. That it is not, opens itself to many conspiracy theories.
For the majority of us, it represents the best opportunity to get into this exciting new technology at such low prices. It is actually at the marginal cost of mining.
Lets hope the chinese do not open up their markets too soon or start developing their own future bitcoin companies like Alibaba. Either of these events will change the status quo.
submitted by phanpp to Bitcoin [link] [comments]

[Table] IAmA: I'm Patrick Byrne, a pro-freedom supporter of cryptocurrency and school vouchers, early critic of Wall Street, three time cancer survivor, journalist at DeepCapture.com, and CEO and founder of Overstock.com. AMA!

Verified? (This bot cannot verify AMAs just yet)
Date: 2014-05-02
Link to submission (Has self-text)
Questions Answers
What would you say to other CEOs and decision makers who are hesitant to utilize bitcoin? It depends upon what their hesitancy is.
There are business reasons to do it: save on transaction fees, eliminate fraud and charebacks, etc. There may be business reasons not to do it as well, such as the risk of volatility (but this concern can be obviated by trading out of Bitcoin immediately upon receipt, a service that the firms like Bitpay, Coinapult, and Coinbase all offer, I believe).
But if they are pro-freedom, they should want to get behind it on principle alone. Ghandi said, "Be the change you wish to see in the world."
Hi Patrick, do you have any thoughts on where the economy is heading? Are we truly in a recovery as the powers that be suggest? Do you have examples you see in business that say one way or the other? No we are not in a recovery. We have re-inflated a bubble and called it a recovery.
The government lies to us about the stats. Think of it this way: assume Alleged GDP (that is, "Nominal GDP") is growing at 3%. Inflation is calcualted to be 2%. So Real GDP is growing 3% - 2% = 1%. That is the basic equation. However, what if they are lying about inflation? Imagine it were really 5%? Then the truth, God's-eye-only view would be 3% - 5% = -2%. That is, if inflation is understated, then growth is overstated. I think this is likely the case. I think we are in a shallow dive that they are trying to make look like a level or small climb. See John Williams' site Shadow Government Statistics for more.
The Fed's policies are all about driving up asset prices (homes, stocks) in order to create a wealth effect. Your 401k goes from being worth $300,000 to $500,000. You think, "Gosh I made $200,000! I'll go out and spend $50,000 of it."
The Snoop Dogg Overstock commercial was awesome! When can we expect to see more ads from him? Thanks. It was even more fun hanging out with the guy for four hours. He is one smaaart dude. He asked me more intelligent questions about our business than any of the 80 or so VCs with whom I ever dealt. No kidding.
Also, he rolls a mean cigar.
Shouldn't the government be spending our tax dollars on putting wall street guys who caused the financial crisis in jail (instead of making them pay fines) ? Not one of them has ever been criminally convicted. But I do think the government should put more resources into policing Wall Street. The last I checked, the SEC budget was about $800 million. I think it was around the size of the budget for the Denver police force. It should be about 10X that. However, they should unplug the SEC and ship it to the DOJ. The only thing that scares these guys on Wall Street is an orange jumpsuit, and only the DOJ can issue those.
Patrick, What was your evolution toward being "pro-freedom" like? Were you always so? Was there some event that turned you in that direction? I grew up in New England and thought of myself as a Yankee Republican. Then the Republicans went crazy getting worked up over things that are none of the government's damn business. The old man with whom i sued to build stone walls in Vermont, Earl Barre, taught me that government should pave the roads, run the Post Office, and stay the hell off my porch. I think he must roll over in his grave to see the kinds of things Republicans care about today.
My friend, mentor, and teacher Milton Friedman used to say, "I'm a small-l libertarian and a small-r republican." Sounds right.
PS Thanks for seizing the term. We have a lot of people in our society who call themselves "progressives". If they can hijack the word "progress" I can hijack the word "freedom".
Hello Patrick, Thank you for doing this. Do you know when Overstock.com will be accepting bitcoin for international shipment? I've been waiting this for months! (I'm in Canada) Working on it now. Phase II was getting so we could issue credits back in Bitcoin. I think it came live last week. Phase III will be accepting it internationally. Should happen late summer +/-.
Hi Patrick! You've gotten a lot of praise for accepting Bitcoin, I think its great. But I'm curious what you've found to be the biggest challenge or drawback with accepting this new form of currency. What is something new merchents need to keep in mind before accepting bitcoin? It has been unbelievably seamless.
Coinbase made it easy. But Bitpay and Coinapult do as well, I hear.
Once integrated, it has not demanded an ounce of effort.
Where do you see Bitcoin in 1 year? What about 5? Or 10? I have no theories as to valuation.
Adoption... I would imagine SpaceCash (of one flavor or another) will gradually increase until you see 2-3% of transactions occur within it. If that day ever comes, it will leap quickly to 15-30%. (Lots of things are like that in life, rates of HIV infection in the adult population being one of them, for example.)
What percentage of transactions (# or revenue) are paid for in Bitcoin on Overstock.com? Tiny. <.1%
Did you ever reveal who the "Sith Lord" is??? Inquiring minds want to know! It was an amalgam of two people. 1) Steven A. Cohen of SAC Capital (hence, all my references to "someday I am going to sack up and tell the world...")
2) Michael Milken, who, I believe, is the Hannibal Lecter of the financial world. Read Den of Thieves. Since he was let out of prison (on his 98 count indictment) he spent a lot of money burnishing his image, but he is a really bad guy.
Is naked short selling still a problem? What do you see currently as the biggest risks to our financial system? "Is naked short selling still a problem? " Not so much, or at least, not as obviously as previously.
"What do you see currently as the biggest risks to our financial system?" Chains of title. You think you own something because you have some paperwork that says you do. However, in the central clearing systems of our economy there is slop. The slop was designed in as a way of providing fault tolerance. However, crooks figured out how to game that slop and create circumstances where more than one person thinks he owns the same thing.
Fractional reserve banking without a reserve requirement.
Nice to see you on Reddit, Mr. Byrne. I like Schiff. Opponents say, "Even a broken watch is right twice per day." But he shares my Austrian views.
Here is my question. Peter Schiff and many others think that a collapse of the dollar is imminent. What do you think about that? And what impact this collapse will have on digital currencies like Bitcoin? Yogi Berra said something to the effect, "Anything that cannot go on forever won't." We are living on borrowed time in many ways. However, it is like seeing a bridge built for 10 cars, that now has 80 driving across it. Will it collapse? I have no idea. I thought it would ahve collapsed at 20.
Did you have better experiences at Stanford, Cambridge, or Dartmouth? Which school influenced you the most, both culturally and intellectually? The day I got to Dartmouth I swore to myself that while I was there I would never enter a church, a party, or a fraternity. never did. Never had a single beer with anyone in college, went to a party, anything. I was a total grind. I did play football two years, then split, went to Asia, mucked around, came back just to graduate.
Cambridge - Marshall Fellow - Did a Master's in moral philosophy but was mostly an invalid, and spent my time with a handful of people, just reading for two years. Was in the uber-Lefty envornment of King's College (where the British traitors come from). When I got there I was Left-Curious, but when I split I was into Sowell and Milton Friedman.
Stanford - PhD They were great to me. I was an invalid there as well for much of the experience. Started in mathematical logic, ended up doing stuff in development economics, jurisprudence, and political philosophy. As a grad student my major influences were the other grad students, with whom one forms close bonds. Martin Jones (Oberlin?) and Taylor Carmen (Barnard?). Ask them.
What convinced you to damn the torpedoes and what other examples, successful or not, can you give of this full speed ahead orientation with respect to your life? So that has focused my mind tremendously. Lot of things I want to get done, and none of them have to do with knuckling under to the Combine. In fact, they largely have to do with blowing up the Combine. (Gold star to the first who can say where the expression "Combine" comes from.)
Combine = "Our Benefactors" in the half-life universe. HL3 confirmed! One Flew Over the Cuckoo's Nest.
Organised crime on Wall St -- Can you elaborate? Yes. Wall Street started to be infiltrated by Organized Crime. It sttarted with Michael Steinhardt in the 1970's (his dad, Sol Steinhardt, was the biggest Mob fence in America, and went to Sing Sing, from whence he put his son Michael through Wharton, who then started what was arguably the first hedge fund in 1968, funded over time by cash from his dad's cronies.)
Google "Operation Uptick": the largest Mob arrest in US history was 120 goons from around Wall Street.
The Gambinos and Genovese fought over Wall Street in the 1990s. The Genovese won. Wherever Genovese are, there is Russian Orgnized Crime (the Genovese sponsored the Russian OC into the US like you or I would sponsor a family from Laos). See "Red Mafiya."
Anywhere you see "bucket shops" you are seeing OC.
I also work as an editor and journalist at DeepCapture.com, which explores this subject in hundreds of posts.
Mr. Byrne, No opinion on such companies.
What is your take on companies that operate solely in Bitcoin (i.e. Blockchain, Bitcoinstore.com, etc)? Are you offering your employees to take a percentage of their salary in Bitcoin? Not offering it to employees yet, but there is always the year-end bonus to consider!
Thank you for doing this AMA, and thank you for your activism and conviction you have shown over the years! Hindsight is 20/20, what is one decision that you would make, or wouldnt make, if you had to start Overstock.com all over again? When someone is dishonest, do not try to cajole or coach them. Get rid of him.
Hello patrick first i will like to say thank you for all you do. i have 3 questions 1. who are your favorite philosopher's and what book on philosophy do you recommened for enlightenment? Who are your favorite philosopher's and what book on philosophy do you recommened for enlightenment?
I admire tesla as a person and for his work, have you heard of the keshe foundation? where do you stand on free energy? I admire tesla as a person and for his work, have you heard of the keshe foundation? where do you stand on free energy? NO THOGHTS.
Will the criminal cabal who runs the united corporation of america fail? Will the criminal cabal who runs the united corporation of america fail? I'M WORKING ON IT, I'M WORKING ON IT.
I'm a computer programmer, so I'd like to ask a technical question if it's not a secret - what do you use for source control? Ironically enough: Subversion.
As a successful entrepreneur, what advice would you give to someone just starting up their own (tech) company? Calculate how much capital it is going to take to start your business, and how many years. Then square both those numbers.
I'd like to thank you for the nice red lounge chairs I got from Overstock. I was able to get a good price for them at a garage sale later. My question is how do you ensure a stable inherent value in cryptocurrency? Unlike Gold, which is a tangible thing, or a Federal Reserve Note which has value simply because the government says it does, with something like Bitcoin how can it retain value and trust without some "official" endorsement and tie in to a national currency? - if you DID tie it to something like the dollar.. then what would be the point? Right. Some say that Bitcoin is a figment of someone's imagination. But as I said on Fox or CNN or something recently (search my name on Youtube, you'll find it), I would be happy to debate the metaphysical properties of Bitcoin versus whatever the metaphysical properties are of those 65 billion figments Janet Yellen createde last month.
An opponent would say that those 65 billion figments are backed by the taxing authority of the US government. To which I respond: But if that taxing authority is tapped out (which it obviously is, otherwise we would not be in the fiscal state we are as a country) then those 65 billion things are backed by... nothing. At least there are a limited number of Bitcoin figments!
You have previously mentioned in a interview with Forbes that you are very intersted in a "Bitcoin version of the stock market" and having the ability to conduct more than just simple transactions via a blockchain. I am a bit confused about what you are asking. My fight with Wall Street came about because I became convinced in 2004 that the market's mechanisms for clearing and settling trades had been corrupted by bad elements. It all started there. Hence, the peer-to-peer aspect of Bitcoin et. al. deeply attracats me.
NXT - the first second generation cryptocurrency is doing this with it's new features being launched in the upcoming weeks and months. Have you looked into it and / or considered accepting it for overstock? I do not know NXT, but I am interested in finding (and even potentially investing in) efforts to create a peer-to-peer capital market. In fact, if a good solution emerges, you might even see Overstock be the first issuer of a stock or bond in such a market, just to help things get going! (Incidentally, we were the first to do a Dutch auction IPO, for precisely that reason.)
Clearly bitcoin has the potential to rid the world of much corruption. Have you thought of publicly endorsing it in this manner. Because most people do not understand the countless benefits that this technology has to offer to our society. All our new commercials end with a "Now Accepting Bitcoin" under the logo. Look for them.
Your top executives (Stormy Simon, Johnathan Johnson, Dave Nielsen) make $350K a year in salary, while Amazon pays their around $160K. This information is made public in SEC fillings. How is your executive compensation determined? One must look at cash and non-cash together.
When and from whom have you first heard of Bitcoin, and what was your first reaction? About two years ago I read a short piece about it in Wired, or Fast Company (perhaps). It struck a bell, from my computation studies at Stanford. I was also struck by how it has properties similar to gold's.
Edit: I also want to thank you for pioneering the way with cryptocurrencies and exposing Wallstreet corruption. Your work is very much needed and greatly appreciated! However, I think the crowdfunding movement is spectacular, and might be considered as well.
You mentioned the term bust out in your presentation on Ecomonic Warfare. You taught that an example of this was the S&L crisis. Where do you see the next bust out occurring? I don't know. Wherever you see an industry get over-leveraged, I suppose. Look for whatever sector has the most cronies of Michael Milken: thta would be a good guess.
I've heard from multiple sources that the stock market is due for a major retraction this year because its been artificially propped up by the FED's QE. Your thoughts? It is true that the Fed is propping it up, but they are not going to stop. They cannot stop lest we slide back into a deeper recession/depression.
However, eventually reality has a way of happening.
Remember, we used to refer to "The Great War" before we learned enough to start numbering them. The same will be true someday of "The Great Depression".
What do you think of the issues cryptocurrencies have been having in terms of security (Mt Gox "break-in", Flexcoin, etc all)? Will people ever be able to overcome their bias of Bitcoin or will it need to rebrand as a more secure currency or more user friendly to gain wider acceptance? So did Target.
It won't "rebrand" deliberately because there is no owner. It will morph and evolve to be better and better. I suspect that as other currencies develop traction, Bitcoin will harvest their better attributes and make them its own. However, switching costs are not too high... Other currencies may fare well.
I admire your position and fight for school vouchers, now that charter schools have become more common, do you feel that charter schools can replace the need for school vouchers? Charter schools are less controversial but not as readily available due to the lottery system. 1) Backpack funding (e.g., Oakland) - Send your kid to any public school in the district that you want, and the funds travel with him (in his "backpack" so to speak). Something like Henry Ford saying, "You can buy a Model T in any color you want as long as it's black." But it's a start.
2) Charter schools - As you say, these have momentum.
3) Vouchers (or their economic equivalent, tuition tax credits). These create the most freedom of all the methods.
Thanks for doing this Mr. Byrne. I was curious if overstock held a small % of the btc from purchases or is it all automatically sold on the market? 10%.
Sorry if this has been mentioned already but how would you suggest the community as a whole informs the general public about bitcoin? Obviously mainstream media isnt doing a great job since their main focus are the negative stories relating to bitcoin since thats what sells. Like Ho Chi Minh, make it a war of the ants against the elephants.
My company's CEO thinks there are more important things to take care of rather than bitcoin payments. What would you say to him? Beat the rush.
Hi Patrick! I'd just like to say it's great working here at Overstock. Would you rather fight 100 duck-sized horses or 1 horse-sized duck? Having been nibbled to death by a duck, I would rather fight the horses of whatever size.
What do you like about Utah and what do you do for fun here? What do you like about Utah and what do you do for fun here? BUILD OVERSTOCK.
Any chance the Ostk benefits would include more than the Snowbird pass discount? Maybe more resorts discounts benefits? Any chance the Ostk benefits would include more than the Snowbird pass discount? Maybe more resorts discounts benefits? NO. WOULD RATHER JUST PAY THE CASH.
I'm sorry that you contracted cancer numerous times, do you have any ideas about what caused it? Also, Bitcoin :-} Nope. Just lucky I guess.
What was the last thing you bought from overstock.com? A book about Camille Claudel, I think.
What the fuck was the deal with Snoop? Stormy just wanted to meet the guy, so you waste MILLIONS on an ill-fated promotion that is so at odds with your brand? You mean this? Link to www.youtube.com
Note our appearance in his video: Link to www.youtube.com
It has 2.5 million hits. Seems to have struck a chord for some.
What are you, racialist?
"three time cancer survivor" Did you grow up under power lines? Or did you just like the way lead-based paint tasted? Some guys just get lucky.
Related note: Seriously, no one is out to get you! Quit moving your damn office every three months! 3) I move my office because we are a flexible, agile environment. Sounds like that was something you could not grasp during your tenure here.
Do you know who's behind the Satoshi twitter account? No.
I work over at castle and I challenge you to a game of ping pong. You're on.
My paycheck against yours?
(Joke: I don't get paychecks, I believe.)
Truly. The beautiful thing about bitcoin is that we can all be a small part of this change. The peer to peer aspect makes it truly pro-freedom. True dat.
Thank you for accepting bitcoin Patrick. I've made several purchases on Overstock instead of Amazon because of it. Thanks. Spread the word! We took a chance by taking it. Help make it pay off by getting more people to think like you.
(Notice Amazon recently dissed Bitcoin? They do not want to appear as Me-too'ers.)
Hello Mr. Byrne, I became a strong believer in several ways. 1) As a grad student at Stanford I studied computation thory, which underlies public key encryption, and so when cryptocurrencies came along it was not as magical-sounding to me as it might have been. 2) I am a proponent of the Austrian School of Economics, which, in general, eschews fiat currency in favor of a gold standard. The goal is not really the gold standard, however: the goal is to have a form of money that is intrinsically limited. Bitcoin et. al. accomplishes that. In addition, cryptocurrencies are SpaceCash (a word I think I just made up) that can be beamed across the galaxy! (Henceforth in my answers I will use "SpaceCash" top refer to all cryptocurrencies.)
Clearly bitcoin and other cryptocurrencies have the potential to change how our world does money for the better. What made you such a strong believer in bitcoin, and how would you spread this knowledge to other CEOs like yourself.
It's my understanding that since Overstock.com uses a Coinbase to facilitate the transaction Overstock does not sit on any Bitcoin; just the cash after the fact. Correct. Acutally, I think we are accumulating 10% of what gets spent with us in Bitcoin, as Bitcoin.
Just want to say you sound like a really cool mega rich person. Thanks. If so, it helps that I was a really cool person before I became a rich guy.
Last updated: 2014-05-06 21:05 UTC
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[Table] IAmA: I am Jeffrey Sachs, Professor and Director of the Earth Institute at Columbia University. I’ll be teaching a free online class on sustainable development starting this month. Ask me anything!

Verified? (This bot cannot verify AMAs just yet)
Date: 2014-01-15
Link to submission (Has self-text)
Questions Answers
Professor Sachs thank you so much for doing this AMA. I've always argued that if agricultural subsidies were cut around the world it would be more effective in lifting people from poverty than all aid combined. It seems that lately developing countries have also gotten into the ag subsidy trap. Is it possible we've reached a point where reducing global ag subsidies might hurt the poor more than it helps them? There is a lot of use of open source, and a lot more on its way. Free apps. IT-based service delivery. Some really great stuff. I think the classrooms will also be transformed through online curricula.
Hello Dr. Sachs, I was wondering if you could respond briefly to a few questions I have had for awhile. I was in the military and deployed overseas when I read the Shock Doctrine and could verify everything that she claimed when I was in the Middle East. I have since been discharged and I pursued an Economics degree during which I took an Economic Development course. In the course, we reviewed your new and refined writings/theories and I had also wished to ask you these questions: 1) What is your retort to what Naomi Klein so succinctly documented about Free Market reforms and the subsequent repression to maintain them the world over. “The idea is to get the guys heart beating again. And it’s a bloody mess. But you don’t have any choice.” Do you still hold to this rational? 2) In your revamped understanding, you state that it is immoral to experiment because you would be withholding funds from a given population, but how do you reconcile this as an academic who is trying to solve poverty without the faintest idea of what works because of a lack of data? Secondly, do you not see that the big push is a logical fallacy if the only reason as to why it could fail is from there not being enough? Thanks for asking. I don't think that Naomi Klein understood my own work and ideas (which by the way are all on the record). She lumped me, for some reason, with extreme free-market economists, which I am obviously not. I've been concerned with social justice from the very start of my work, and therefore argued for debt cancellation and social spending in Bolivia, for example. She overlooked all of those complexities, to make her story line go smoother. I certainly agree with much of what she wrote in general, but she did not depict my own ideas and approaches accurately.
Do you believe that, if our basic instinct as humans is to adapt and survive, then the most logical course of action to tackle the 'big issues' we face is to harness the power of greed within an acquisitive framework of business? I.e. the Triple Bottom Line approach, using models to create multiple value effects yet based on the inherent need to further one's position to create security and success. In short, can or must greed be good? I think that starting with "human nature" is right (as did Aristotle, by the way). But we are more than greed. We are a mix of greed, compassion, honesty, cheating, and much more. Humanity in all its complexity. Therefore, greed (markets) are one motivator, but so too is morality a crucial key to success.
I read 'The End of Poverty' and I have to say, I am a huge fan of that book. I often cite your work to support ideas like that sweat-shops aren't necessarily the evil they're portrayed to be. Since the book, how much, in you eyes, has changed in the world? Do you feel like leaders sat up and took notice? Also, from your perspective, what is going well or not so well with the US economy? The most important thing that's happened since 2005 is that the idea of ending extreme poverty has actually begun to take hold. People see the success of China in ending poverty, the start of real poverty reduction in Africa, and the power of the new ICT technologies. Because of this optimism, the World Bank Development Committee voted in April to take on the goal of ending extreme poverty globally by 2030. So the idea is there, step by step.
ending extreme poverty globally by 2030. So the idea is there, step by step. O.o rly? sounds like a dream to me. I live in Uruguay and with the corrupt government we have i doubt we could make such a thing. I'm seriously thinking in move to another country. I thought that Uruguay was doing better in governance. You don't think so?
Hi Professor Sachs- I just wanted to say that I've read some of your work and I really admire it. I was wondering how you would respond to some of William Easterly's arguments, such as that made in "Democracy and Good Government", where he claims that there is an inherent contradiction in giving money to sitting governments (which is in and of itself a political act) and expecting them to reform. Also, it seems in a lot of your work that you believe that governments will work in the interest of their people, rather than for themselves. What is it that has drawn you to that conclusion so firmly? What do you believe will happen to the villages of the Millennium Village projects once the project term ends? To what extent are measures being made to equip government officials with the skills they may need to govern? I believe that aid can be designed in ways that promote accountability and transparency. This is how the Global Fund has worked most of the time. It's been a good and successful model. Yes, we should promote a high degree of transparency. Remember that much of the corruption starts from the side of the rich countries and their companies.
Hello from Western Australia. Thanks for offering this online course! Practical questions: (hope I did not just overlook pertinent info on main page). a) a course book is mentioned - what book is that? Is it referring to the 'free, online text'? b) Will the times of the various video hang-outs be at various times of the day - to cater to the from around the world crowd? c) Will the weekly video links remain active for the rest of the course, once they are up? Thanks. All the details will be available once the course Link to www.coursera.org goes live on January 21. a) Yes, the course book will be a free, online text on sustainable development to accompany the class b) Exactly – the times of the video hangouts will vary in order to accommodate as many time zones as possible, and the specific times will be posted ahead of time. They will be conducted in English, Spanish, French, Hindi, and Chinese. c) Yes, the links will remain active for the rest of the course once they are posted. Please do tune in to the class, more information will be up once it is live next Tuesday!
If automation moves to the point where sweat shops are no longer needed for the labor intensive goods produced in developing countries, do the people of developing countries have a real alternative to becoming serfs? The question of how automation, robotics will affect development is crucial and UNSOLVED. I will discuss it in class. There is as yet too little thinking about this.
Dr Sachs, there's a growing movement in international development to study impact empirically, and a good amount of the evidence coming back so far has shown ineffectiveness in many aid projects. Your book posits that this is because we are not investing enough in the projects we have, while other theorists (like Easterly) would rather invest in different projects. Do you think there is a middle road in this discussion for sustainable development? And how far do you think empirical studies can be trusted when so much of developmental success is context-specific? We need to be smart in our aid policies, using knowledge, experience, and EXPERTISE outside of economics (such as in public health). The Global Fund to Fight AIDS, TB, and Malaria, and GAVI are examples of aid success. We should measure and evaluate programs, but use methods that are appropriate to the circumstances. There is too much of a one-size-fits-all strategy to evaluation these days (too much on randomized trials, excluding other means of evaluation).
I saw you in "Commanding Heights" and learned that you advised several countries face their staggering economies. Quite amazing! Thanks for doing this AMA! Do you see need for the US and EU to face the trouble their currencies are in, especially after measures taken since 2007/8? Have you had time to dive into bitcoin and what are your thoughts? You know, I've worked on currencies for 30 years but not yet on Bitcoin, but many (many!!!) people have been asking me about Bitcoin recently, so I need to start my own education on it. Sorry to be a laggard!
My name is Nikolas Tsaousis. I'm from Cyprus Professor ill follow your course on line and i have questions 1.How many times in the week the lectures it will take place and when? 2.Can we have access to the videos at any time because we are +7h EST time? 3.The interactions can happen verbally or only by text in the time of the lectures? 4.Who we are going to add in Hangout TAs to place our questions? 5.All the information's they will send to us by mail so we have the correct sides? Personal quest: On 20 of January I'm flying back to my country from USA and still up 21st GTM time 19:00 i reach Cyprus how I will be able to follow lecture 1? Glad to hear you’ll be following! All the logistical information regarding the posting schedules, etc, will be up on the coursera course page (Link to www.coursera.org once the course goes live next Tuesday January 21. The videos will be posted weekly, every Tuesday. Once the lecture videos are online they will stay up for the duration of the course, so you can watch whenever you’d like. There will be weekly google hangout videos with myself and the course staff, where you can submit any questions; the details of how to join will be on the website. Even if you can’t join at the time, you can go back to watch the videos later. There will also be discussion boards, and I’m looking forward to answering more of your questions and having interesting discussions there! The information will all be available on the coursera website, and you will also receive email updates if you’re registered.
I'm fascinated by the new environmental technologies like billboards pulling drinking water from the air, or Mexico City's smog eating paint. What technology do you look at as having great potential? Probably the single most important breakthrough in recent years has been the dramatic decline in price of photovoltaics, which have fallen by a factor of 100X since 1977. 1 Watt of PV now costs less than $1 dollar. This will make possible an enormous upscaling of solar power in many parts of the world.
How do you think microfinance (and microcredit in particular) can help alleviate poverty? Is that of any help to the poorest people, or only tho those slightly above that level? Microfinance is a proven useful tool, but not a single magic solution. it can help households to start small business and to smooth income fluctuations. Some people thought it was a single panacea, but alas, it's not powerful enough for that.
What's your take on the Affordable Care Act? How do you think it compares to a single payer approach, as seen in Canada and the UK? Give me single-payer ANY DAY!!! It's the lobbies that block it.
Why are you not devaluing education through free courses? As an economist, I would think you'd be very wary of removing price signals from any product, especially one with so much investment as a college-level course. I am thrilled that anybody can join in my lectures through an online experience. The marginal cost of that is essentially zero, so I'm happy to be supplying that "service" to anybody that's interested.
Public Health advancements stand out among the successes of the Millennium Development Goals. Does the international community’s recent failure to raise the bare minimum $5 billion for the Global Fund indicate that global health will not factor prominently in the Sustainable Development Goals? The Global Fund is still trying to close the $5 billion. I'll be speaking with several governments over the next few weeks as well to help close the deal. The name of the game is PERSISTENCE. It takes time to convince governments!!!
Dear Prof Sachs, thank you for doing this AMA. If I understand correctly you once stood in favour of big-package approach to development, rather than very targeted randomized trial, which due to their narrower focus, have the benefit of being easier to evaluate (they can be randomized). Where would you stand today on this debate? What do you think of the Banerjee-Duflo approach to development? I think we have many ways to knowledge, and should limit ourselves to things that fit randomized trials. That would be an arbitrary and unnecessary barrier to tacking great challenges. That's the point I've been making, e.g. regarding public health. I'm happy to say that the evidence on public health is supporting the ambitious agenda. There is a place for RCTs (randomized controlled trials) but only one place among many methods.
As many borders in Africa were established in Europe in the 19th century, do you think that an AU/UN guided attempt to re-draw borders peacefully (and democratically) would increase the overall cohesive structure of most nations on the continent? The borders are often very arbitrary, carving Africa up into 54 countries on the continent itself, plus islands. The carving has left 14 landlocked countries (I believe that's the number), plus incredibly arbitrary divisions of ethnic groups, spread across countries. Yet solving this by redrawn borders is probably not feasible. More feasible is to increase economic and social integration in Africa, so that borders matter much less. Also, more investment in good transport infrastructure!!!
Which country teaches sustainable development in schools? Is this an effective way to know the importance of this topics for the world? How can we do it? When the world adopts Sustainable Development Goals in 2015, we should all work to ensure that SD and the SDGs are taught in all schools as part of the curriculum. This will be an important step in global problem solving!
Hi Jeffrey, I had the pleasure of taking a class from Lisa Cook at MSU, and we actually studied a paper you two wrote together. My question is how would you recommend oil rich countries in Africa harvest their resources without degrading their environment? Do you think that's even a likely achievement? Oil development can be done effectively, with the money used for true development. It requires far more transparency of financial flows, far more policing of environmental abuses, and far more long-term policy planning. I am working with several governments to try to stop the resource curse and turn it into a resource blessing.
What will happen to the Millennium Villages after the MDG's expire? Will the program be sustained at its current level or are there any plans for expansion? The MVs will be evaluated at the end of 2015, and we will make course corrections and improvements as needed in several national programs underway to scale up the MV model. So the basic notion of using community-based rural development will continue past 2015, for sure. It's working in many powerful ways, but will have even clearer evidence in 2015 on many important detailed issues.
Hi Professor Sachs, believe it or not I'm writing this from Nairobi! I'm a Columbia College senior, and I've been spending the past week here at the CGC getting to see some of the great work that's being done with the MVPs. Great to hear from you. (I'm in Moscow now, myself). So good that you are visiting the CGC.
My question is what your goals are for this course, and what you think students stand to gain from taking it? The course will offer an intro to the marvelous field of SD. And as I'll explain, I believe that Sustainable Development will be a central theme of our age, and especially for your generation. A world of 8-9 billion people will need to learn how to live productively and peacefully together, and at peace with the planet itself. That will be the subject of the course.
What would you consider to be basic steps, it even crucial steps, that those of us living in the industrialized work should pursue to lessen our drain on global resources? We need to focus on ending the environmental damage were causing. This means, for example, converting our energy system from fossil-fuel dependence (oil, coal, and gas) to low-carbon sources, such as hydro, solar, wind, and in my view, some nuclear power (though that one, of course, is the most controversial). It also means changing agricultural patterns that deplete soils and groundwater.
Hi Professor, thanks for doing this. What role would you say access to family planning has on alleviating poverty at the aggregate level? Also its impact on sustainable development? Full disclosure: I am looking into doing an MSc dissertation on this topic over the summer. Family planning is very important. Development success has almost always depended (in part) on a voluntary reduction of high fertility rates. When fertility is reduced, then each child is able to get a better start in life. Economists call this the "quality-quantity" tradeoff in number of children in a poor household. Many countries in Africa still have fertility rates even above 5 children in poor households, and the poor parents are unable to provide adequate nutrition, healthcare, and education for such a large number of children.
What would you consider to be the strategies to end poverty while increasing sustainable development in third world countries? I think that the key to ending poverty and increasing sustainable development is "investment-led growth," with investments in people (health, nutrition, education, training), plus investments in infrastructure (such as low-carbon energy), plus investments in "smart" systems using information technologies.
Does the Millenium Development do any work within the United States to alleviate the poverty that goes unrecognized or undereported? The Earth Institute, which I am very honored to direct at Columbia University, is beginning several projects right here in NYC. Some of them involve, for example, using a community-health-worker model to reach underserved populations. Also, scaling up public health screening in NYC schools.
There's been a push over the past few years to "buy American" (wares made in America). To me, this goes against Globalization (a trend that would ultimately make the world a the manufacturers and drive down prices). Whats your stance on the protectionist attitude and buying only made in America wares? This kind of protectionism is especially damaging, and is seen by poor countries are a kind of "cheating." How are they supposed to develop if the rich-country markets are closed to them?!
Water is often a scarce commidity in very poor areas. Do you see any possibilities of treating salt water to make it potable and/or so that it can be used for irrigation? Also, how do you see water scarcity leading to violence in areas with little or no rain? There are many technologies to recycle water, or desalinate, or to use mildly saline water in some cases. Yet the local specific are crucial. Water scarcity can absolutely lead to poverty, famine, and conflict. The evidence is very clear on that.
I know you taught Dambisa Moyo at some point. What's your take on her argument "DEAD AID" regarding Africa? Unlike Dambisa Moyo, I believe that aid is needed and can be organized effectively and respectfully. I am very happy with the successful scale up of aid for public health in the past decade. It has saved millions of lives and helped to promote economic development.
What is the most extreme, ridiculous proposal you've ever seen to fix climate change that is just crazy enough to work? It sometimes seems that the most "ridiculous" idea is that the governments actually agree to do something, and do IT. 21 years later, that's not yet happened. The goal now is for a comprehensive agreement in Paris at the 21st meeting of the signatories of the climate change agreement (COP21, so called), to take place in December 2015. Working now towards success of that.
What do you recommend to switch to a career in sustainable dev? Located in NYC, already in a masters program, but having trouble being useful. Thx! The great thing about SD is that many fields can contribute -- business, law, public health, social worker, nursing, medicine, etc. So if you've got some good Masters skills, that's a great start to searching out some opps in business, government, or NGOs.
Prof. Sachs, what do you think is the best way to engage companies so that they contribute to the sustainable development of the countries where they work? Each company should have a sustainability division and a code of good conduct. Companies should not create damage to the communities where they operate, or to the planet, EVEN if such behavior is "legal." Companies have responsibilities not only to shareholders but to stakeholders (communities, workers, suppliers, customers, and the planet!)
Are you pesimistic about the european future because of the aging population and its impact in the economy and sustainability, or not? Ricardo from Spain. I'm optimistic about Europe (and love European culture, cities, and heritage). I'm also not against aging. :-) I believe that Europe still has the best model of social democracy, combining high productivity with social justice and environmental protection. Yet clearly some EU institutions and processes really need fixing!
Hi Professor, thanks for the AMA. I've spent time working with World Bank employees on several projects. While not going into specics, do you think change must be instituted through large institutions such as World Bank? Our political system is inherently disabled in many ways abroad, and it seems that economics are the key force at play and will remain the major motivator in developing a sustainable future. Thoughts? The World Bank can play an important leadership role, and I know that the new World Bank President Jim Kim is committed to doing so. I'll do my best to help the institution fulfill its new commitment to work to end extreme poverty by 2030.
Prof. Sachs, it's always fascinating to read the endless retorts you and William Easterly have on the subject of development economics. Aside from what we're exposed to in numerous essays, how would you describe your relationship with him? There are days when I'm happier and days when I'm less happy. We're colleagues and friends, but sometimes I'm simply amazed (and not happy) when he declares that "aid has failed." This is simply NOT RIGHT!!! :-)
What is your opinion of lifelong learning and its potential to eradicate poverty? Lifelong learning, including online courses!!!, will be the way of the future. I'm in Moscow today, and the Deputy Prime Minister said exactly that too. Good news.
Dear Prof. Sachs, will you address the discussions about switching from the classical economic growth paradigm to a transition period towards a way down? thanks from Brazil. Yes, we will talk about new growth paradigms, certainly!
What do you think are the most important aspects that we need to take up in the United Nations post-2015 development agenda? The key is to establish a set of Sustainable Development Goals (SDGs) that cover all three major areas of sustainable development: economic development (including the end of poverty); social inclusion and lower inequality; and environmental protection. I'm hoping for a set of 10 concise SDGs to help guide the world during 2015-2030.
Dear prof. Sachs. I wonder if you consider the following case a "resource curse" Since the end of WWII, Greece (actually its elites) has received various money injections. Marshal Plan, "Jacques Delors" assistance, EEC and EU money, and €300bn on cheap loans. We have a situation with of great malfunctioning of institutions and citizens having no trust in them. We also have countless fraud cases, as well as a largely destroyed production base, since all our growth was on imports with borrowed money. Would you consider easy money as kind of a resource curse? I love Greece, I have to say. Gift to the world. Beautiful country, wonderful culture (and food!), unbelievable history, great friends. But alas, soft governance, corruption for too long, and now a harsh crisis that Germany should do more to ease. I am a believer that Greece would recover much faster if the government puts forward a clear growth strategy to motivate export-led growth and new business startups.
Why subjects relating to Sustainable Development are not part of the curriculum of the primary schools, high school and universities; if we know that is toward that direction to which we have to go? We have to start from schools to change our paradigm about development. What is your opinion about this gap? I am hoping that the world will have Sustainable Development Goals (SDGs) for the years 2015-2030, and that schools at ALL levels from primary to post-graduate will teach age-appropriate curricula about SD. You are right!
Greetings and thanks for offering what promises to be a fascinating course! My question would be: what do you see as the biggest global challenges to implementing Sustainable Development and where do you see the most inspiring innovations that look like they might overcome those challenges and where do you see the UN within this framework? Thanks. Have a look at the website for the UN Sustainable Development Solutions Network (www.unsdsn.org) to have a look at the report to UN Secretary General Ban Ki-Moon (Link to unsdsn.org) That describes, I hope, a good summary of the SD challenges will be discussing in class!
What role do you see art play in a sustainable society? Art plays a vital role for the health of the soul, for our wellbeing, which is a key purpose and part of Sustainable Development!
Your book "economics for a crowded planet" was the reason I went to study economics at university! My question is how would you go convincing corporations that are fixed on increasing the value of their stocks, to actually care about the environment? Many companies are already on side I'm happy to say. They see the future, and also the need to protect their reputations. Many CEOs actually want to do good. We still have to get more oil companies on board, that's for sure. And we need a sound regulatory policy in any event.
Dr Sachs, I am a fan of your works that I have read (The End of Poverty and The Price of Civilization) and wanted to thank you for taking the time to do this and for generally forwarding developmental economics around the world. My question is: if you could instantaneously achieve any one of your development goals which would you choose and why? I'd start with the health goals, since those are life and death. And then (or simultaneously) the hunger goal (obvious reason) and then education. Of course once people are alive and properly nourished, education becomes the KEY!
Dr. Jeffrey Sachs, First hand, I thank you for this opportunity to join you in learning from someone as knowledgeable as yourself, its a great honor for me. Im from Costa Rica, in 2006 I was honored with an opportunity to pursue an undergraduate degree at DePaul in business management. The first book I read was ¨The End of Poverty.¨ I used it throughout my college years for multiple papers and still consider it one of the best I have ever read. Where can this additional knowledge that I will acquire through your course take me? I am unemployed right now and wish to work for the private or public sector in matters related to finance-banking and sustainable development, can you help with this? How may we network an employment opportunity abroad or in Costa Rica? How may I assist you for future educational matters? Is there an opportunity to use my country as a hub for projects of this caliber? Thanks for writing, and joining the class. We can all learn from Costa Rica, which has had some very innovative successes in the "green economy." In general, I believe that Sustainable Development offers job opportunities in all sectors: government, business, and civil society (NGOs). Good luck!
Do you see the world shifting to a more eastern centred focus? By this I mean, the BRICS and the rising economic powers of the east will rise high enough to not be so dependant on the west? This could also values, like suggested by Kishore Mahbuban. Yes, the center of gravity of the world economy is tending to shift from the North Atlantic, where it's been for centuries, to the Indian Ocean and the Pacific Basin. The rise of China is a great game changer, together with the economic strength of Japan, Korea, Singapore, and others.
Professor Sachs the third world countries are in the developing rute. But they are doing this as India and China did it: sacrificing the natural resources. What are the options to new nations in order to have a real sustainable development? One key is to use the new information and communications technologies to the maximum, and to use renewable energy -- especially solar power and wind power -- to the maximum. Technology will be crucial for sustainable leapfrogging.
Thank you for your dedication and persistence! And thank you for this course - I am very excited to participate in this collaborative intention. For a number of years I have been exploring what I call Transformational Global Leadership, defined as "the ability to generate fulfillment of a seemingly impossible vision for every human being.". What are your thoughts on the need for new models of leadership designed to deal with current global challenges? Yes, we need transformational leadership, and can look at great examples in history: the fight against slavery, the fight against colonialism, the fight for civil rights, the fight against apartheid, the fight for human rights, and so on. In each case, bold, clear, powerful leadership played a key role.
When the government or culture in an area does not support elimination of poverty, have you seen other ways to make substantial progress, or is the government/leadership really the key to success or failure? Government is necessary. The tools of policy (taxes, regulation, public subsidies of science, public investment) are indispensable. They are not the only things that matter, but without government, broad-based and sustained development is not really possible. Of course, governments do not need to be perfect. Thank goodness!!!
What is the active participation expect from third world countries which are rich with biodiversity, in achieving millennium development goals? The countries rich in biodiversity (e.g. Costa Rica, Ecuador, Brazil, Indonesia, Kenya, Rwanda, etc.) hold that biological heritage for all the world. We should helping those countries, including with financial assistance through the Global Environment Facility (GEF) to preserve and protect the biodiversity.
Do you thing we can use some indigeneous vision as "Good living" to adapt them as sustainability solutions ? Yes, the question of "good life" or "happiness" is essential. Please see the 2013 World Happiness Report (online), which discusses this approach.
Last updated: 2014-01-19 18:27 UTC
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THE STOCK MARKET IS BOUNCING! How Long Will It Last?...

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