Exuberance and idiocy….

Tuesday 26th September 2017

Exuberance and idiocy….

John McAfee is probably the most extreme example of a bitcoin bull that we’ve seen to date….

It was less than 3-months ago that the anti-virus software mogul promised to eat his own genitalia on national television if the cryptocurrency failed to hit $500,000 inside of 3-years….

That’s quite a stake the man’s slapped down. McAfee must be outrageously confident or reckless to the point of insanity….

Or, just maybe, he has chips on the table and is prepared to do whatever it takes to ramp up the bitcoin price….

  • The prize for playing fast and loose….

At the time, bitcoin needed to rise some 22,636% to hit McAfee’s ambitious target and to spare his manhood the indignity of prime-time amputation and consumption….

12-weeks after McAfee made his solemn promise on Twitter (one we intend to hold him to, by the way), bitcoin is up around 40%….

It had been higher still, but the recent correction took steam out of the system….

Prices have partially recovered, but first thing Monday morning bitcoin was at $3759.45 – still 25% below the all-time high-water mark achieved on September 1st….

There’s a long way to go to $500.000.… Click here to read more

BitCoin – down but not out….

Tuesday 19th September 2017

BitCoin – down but not out….

For the last couple of years, the bitcoin story has revolved around one theme and one theme only – price….

What price was bitcoin back in the day? What price is it today? What price will it be tomorrow?

The price of bitcoin had been climbing sharply….

Between July 16th and September 1st, the price of the cryptocurrency had risen more than $3000.00 to a high of $4950.72 – a spectacular rise of 255%….

Last week the bitcoin price fell off a cliff – falling all the way back down to $2981.05 on Friday.

It did not represent the end of the world. It did not – as some news sources suggested – represent the end of bitcoin either.

It was just a correction – a timely reminder that prices can fall just as swiftly as they can rise.

Even so, those bus drivers, nurses and ironworkers we reported on last week will be wondering how such a good thing went wrong so quickly.

But, in the world of money, an awful lot can happen in a few short days….

  • A hammer blow delivered in Beijing….

It started in Beijing….

The Chinese authorities had already outlawed initial coin offerings the previous week – describing them as a form of illegal fundraising….… Click here to read more

What championship boxers can teach us about cryptocurrencies….

Tuesday 12th September 2017

What championship boxers can teach us about cryptocurrencies….

Mike Komaransky is 38-years-old – and retired….

How did he pull that off? In a word – bitcoin….

This professional trader began trading cryptocurrencies in 2010. The stellar gains in his portfolio over the last couple of years enabled him to give up work this summer….

He’s tight-lipped about the extent of his gains. But they clearly amount to a life-changing sum.

Komaransky has shipped his family to the south of France where they can look forward to a life of sun-drenched leisure….

  • Preaching the bitcoin gospel…. 

Roger Ver bought 25,000 bitcoins at $1 per coin back in 2011….

Ver was attracted to the idea of a new currency that no individual or government could manipulate….

Such was the fervor of his advocacy for the cryptocurrency that people started to refer to him as ‘bitcoin Jesus’….

Ver has since sold his 25,000 bitcoins for the grand sum of $30 million….

As far as bitcoin is concerned, Ver saw the light, kept the faith and the high-flying market has delivered him into the promised land….

  • Success stories abound….

Komaransky and Ver sensed the way the wind would blow early-doors and they were swift to act.… Click here to read more