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Putting $400M of Bitcoin on your company balance sheet
Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots. A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC). Today we'll discuss in excrutiating detail why this is not a good idea. When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust. However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:
Is Bitcoin money?
No. Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves: 1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own. As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get. You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there? 2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile. If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point: 3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away. For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast. On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC While the dollar loses value at a predictible rate, BTC is all over the place, which is bad. One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy. If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due. Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.
BTC has a fixed supply, so these problems are built in
Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense. Having control over supply of your currency is a good thing, as long as it's well run. See here Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well. Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money. Let's look at a classic poorly drawn econ101 graph The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand. Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control. It's also a national security risk... The story of the guy who crashed gold prices in North Africa In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca. He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade. This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.
Currencies are based on trust
Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged? The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president. People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all. It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board. For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government." The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.
BTC is not gold
Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value. How do we know that? Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan. Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well. Some people are puzzled at this: we don't even use gold for much! But it has great properties: First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment. Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials. Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans. It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods. To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that. On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Means of Exchange: if people seriously start using BTC to buy pizzas, then this creates a real demand for the currency to accomplish the short-term exchanges. As we saw previously, I'm not personally sold on this one and it's currently a negligible fraction of overall demand.
Criminal uses: Probably the largest inbuilt advantage of BTC is that it's anonymous, and so a great way to launder money. Hacker gangs use BTC to demand ransom on cryptolocker type attacks because it's a shared way for an honest company to pay and for the criminals to receive money without going to jail.
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.
BTC is really risky
One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds. But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:
A critical software vulnerability is found in the BTC codebase, leading to a possible exploitation.
Xi Jinping decides he's had enough of rich people in China hiding their assets from him and bans BTC.
Some form of bank run takes hold for whatever reason. Because BTC wallets are uninsured, unlike regular banks, this compounds into a Black Tuesday style crash.
Blockchain solutions are fundamentally inefficient
Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science. That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale. The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
BTC was estimated to use as much electricity as Belgium in 2019. It's hard to trace where the BTC mining comes from, but we can assume it has a huge carbon footprint.
A single transactions is necessarily expensive. A single transaction takes as much electricity as 800,000 VISA transactions, or watching 50,000 hours of youtube videos.
There is a large necessary tax on the transaction, since those checking the transaction extract a few BTC from it to be incentivized to do the work of checking it.
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
A lot of early Bitcoiners knew this and spoke clearly about it, but somehow as waves of new people came in 2013 where 99% of their experience with money was 'payments' and a lot of scammers and sociopaths started pushing for a massive rates of new adoption beyond what was reasonably possible and a lot of people lost the plot. Short of violent conquest, becoming a world reserve currency fundamentally takes time. Fortunately, most of that attention went to sketchy altcoins that have now lost 90% of their value because their ideas were flawed and the people leading those flawed efforts uh.. had issues: The free market at work I guess.
Meanwhile, a simple check of the history for the scalability FAQ on the core controlled en.bitcoin.it quickly shows this to be the outright lie it is. https://archive.is/gfvBq Also note the continuous presentation of a false dichotomy between store of value and medium of exchange, as payment network vs digital gold whilst completely ignoring the fact that not only are they not a contradiction, they actually rely on each other. nullc your nonsense will not be allowed to fly without comment, and you will not be able to cover up the historical facts of the matter no matter how many times you repeat yourself in censored forums. The internet never forgets, and it's a simple fact of recorded history that you sabotaged the project. EDIT; The fool has seen fit to respond in the original forum and also PM'd me with insults and an insistence that this was a vicious attempt to attack him absent his ability to defend himself because he is now banned on this forum. The truth does not fear investigation and so, the response in question is; https://np.reddit.com/Bitcoin/comments/j7gw09/btc_vs_bch/g8tqgoj/ This response is not new at all, and is just as much a lie as the original comment, and I have directly refuted it before as well; https://np.reddit.com/btc/comments/htss6k/banned_for_lying_on_rbitcoin_when_a_mod_was/fyntoze/ nullc, I repeat my original accusation; you're a lying saboteur and you have no integrity whatsoever. What you did was not an innocent mistake, you are a malevolent actor and the worst thing to have ever happened to bitcoin, period. As for your insinuation that your out of context false quotes were almost certainly from before I ever heard of bitcoin, exactly how much are you prepared to wager that I can't present a key from 2011 to prove that this too, like everything else you say is nothing but complete fucking nonsense?
What r/fatFIRE can learn from the book, Psychology of Money
My favorite author, Morgan Housel, released his new book, The Psychology of Money, last week. In the book, Housel discussed many interesting psychological phenomenon, through the lens of finance. As I flipped through the pages, I started to realize so much of what's happening in fatFIRE are examples of what's discussed in the book. No One's Crazy The book begins with how your personal experiences with money make up maybe 0.000000001% of what's happened in the world, but maybe 80% of how you think the world works. For example, if you were born in 1970, the S&P 500 increased almost 10-fold, adjusted for inflation, during your teens and 20s. That's an amazing return. If you were born in 1950, the market went literally nowhere in your teens and 20s adjusted for inflation. Two groups of people, separated by chance of their birth year, go through life with a completely different view on how the stock market works. Takeaways forfatFIRE: When you read other posts and comments about what stocks to buy, what startups to join, what's the economy going to be like, what's the best asset allocation, etc., remember that is just a single person's point of view. That person may be from a different generation, earns different incomes, upholds different values, keeps different jobs, and has different degrees of luck. And remember, don't be mean to others. A view about money that one group of people thinks is outrageous can make perfect sense to another. Luck & Risk The next chapter discusses the big role luck and risk plays in someone's life. Luck and risk are two sides of the same coin. Examples from the book: Countless fortunes (and mistakes) owe their outcomes to leverage. The best (and worst) managers drive their employees as hard as they can. "The customers are always right" and "customers don't know what they want" are both accepted business wisdom. The line between "inspiringly bold" and "foolishly reckless" can be a millimeter thick and only visible with hindsight. Risk and luck are doppelgängers. Takeaways forfatFIRE: Be careful who you praise and admire. That commenter who joined a unicorn at Series A may look like a genius on the outside, but they may just be lucky and cannot repeat it again. Be careful who you look down upon and wish to avoid becoming. That poster who joined WeWork may look like a fool, but they made the best decision based on the information they had at a time. They took a risk and got unlucky. Therefore, focus less on specific individuals and case studies and more on broad patterns. Furthermore, when things are going extremely well, realize it's not as good as you think -- like the stock market right now. On the other hand, we should forgive ourselves and leave room for understanding when judging failures -- like the stock market in March. Never Enough The hardest financial skill is getting the goalpost to stop moving. It gets dangerous when the taste of having more -- more money, more power, more prestige -- increases ambition faster than satisfaction. Social comparison is the problem here. A rookie baseball players who earns $500k a year envies Mike Trout who has a 12-year, $430 million contract envies a hedge fund manager who makes $340 million a year envies Warren Buffett who had a $3.5 billion increase in fortune in 2018. There are many things never worth risking, no matter the potential gain. Reputation is invaluable. Freedom and independence are invaluable. Friends and family are invaluable. Being loved by those who you want to love you is invaluable. Happiness is invaluable. And your best shot at keeping these things is knowing when it's time to stop taking risks that might harm them. Knowing when you have enough. Takeaways forfatFIRE: When you make a big gain, it's totally okay to take profit, as long as you keep your ambition down and acknowledge the possibility that it may go higher. If that happens, no need to play the would've should've could've game, because it very well might've gone the other way. When you see someone who got 20x return on Shopify or bet big into Ethereum in 2016, remember they may envy the pre-IPO employees at Shopify or the genius who held Bitcoin since 2010. At the end of the day, do not risk more than what's comfortable in your life for the sake of making huge amount of money, because even if you do make it, you may not find it worth it. Tails, You Win Skipping a few chapters to talk about the prominence of tail events. At the Berkshire Hathaway shareholder meeting in 2013 Warren Buffet said he's owned 400 to 500 stocks during his life and made most of his money on 10 of them. Charlie Munger followed up: "If you remove just a few of Berkshire's top investments, its long-term track record is pretty average." In 2018, Amazon drove 6% of the S&P 500's returns. And Amazon's growth is almost entirely due to Prime and Amazon Web Services, which itself are tail events in a company that has experimented with hundreds of products, from the Fire Phone to travel agencies. Apple was responsible for almost 7% of the index's returns in 2018. And it is driven overwhelmingly by the iPhone, which in the world of tech products is as tail--y as tails get. And who's working at these companies? Google's hiring acceptance rate if 0.2%. Facebook's is 0.1%. Apple's is about 2%. So the people working on these tail projects that drive tail returns have tail careers. Takeaways forfatFIRE: When we pay special attention to a role model's successes we overlook that their gains came from a small percent of their actions. That makes our own failures, losses, and setbacks feel like we're doing something wrong. When you accept that tails drive everything is business, investing and finance you will realize that it's normal for lots of things to go wrong, break, fail and fall. If you are a good stock picker you'll be right maybe half the time. If you're a good business leader maybe half of your product and strategy ideas will work. If you're a good investor most years will be just OK, and plenty will be bad. If you're a good worker you'll find the right company in the right field after several attempts and trials. And that's if you're good. Freedom The highest form of wealth is the ability to wake up every morning and say "I can do whatever I want today." The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays. Research has shown having a strong sense of controlling one's life is a more dependable predictor of positive feelings of wellbeing than any of the objective conditions of life we have considered. People like to feel like they're in control -- in the drivers' seat. When we try to get them to do something, they feel disempowered. Rather than feeling like they made the choice, they feel like we made it for them. So they say no or do something else, even when they might have originally been happy to go along. Takeaways forfatFIRE: Most of you probably are working thought-based and decision job, your tool is your head, which never leaves you. You might be thinking about your project during your commute, as you're making dinner, while you put your kids to sleep, and when you wake up stressed at three in the morning. You might be on the clock for fewer hours than you would in 1050. But it feels like you're working 24/7. If this feels like you, and you do not like it, it is totally fine to switch to a job that pays less but gives you more freedom and independence, because freedom and independence are what FatFire is all about. --- I'm only half way into the book, but I can tell this will be one of the best finance book of 2020. If you guys find this useful, happy to come back next week with more insights once I've gotten to the end. I like talking about these things on Twitter too. Edit: here's part 2 and here's a Twitter thread of the best snippets
What r/investing can learn from the book, Psychology of Money
My favorite author, Morgan Housel, released his new book, The Psychology of Money, last week. In the book, Housel discussed many interesting psychological phenomenon, through the lens of finance. As I flipped through the pages, I started to realize so much of what's happening in investing are examples of what's discussed in the book. No One's Crazy The book begins with how your personal experiences with money make up maybe 0.000000001% of what's happened in the world, but maybe 80% of how you think the world works. For example, if you were born in 1970, the S&P 500 increased almost 10-fold, adjusted for inflation, during your teens and 20s. That's an amazing return. If you were born in 1950, the market went literally nowhere in your teens and 20s adjusted for inflation. Two groups of people, separated by chance of their birth year, go through life with a completely different view on how the stock market works. Takeaways forinvesting: When you read other posts and comments about what stocks to buy, when to sell, what's likely to happen next, what's the best asset allocation, etc., remember that is just a single person's point of view. That person may be from a different generation, earns different incomes, upholds different values, keeps different jobs, and has different degrees of luck. And remember, don't be mean to others. A view about money that one group of people thinks is outrageous can make perfect sense to another. Luck & Risk The next chapter discusses the big role luck and risk plays in someone's life. Luck and risk are two sides of the same coin. Examples from the book: Countless fortunes (and mistakes) owe their outcomes to leverage. The best (and worst) managers drive their employees as hard as they can. "The customers are always right" and "customers don't know what they want" are both accepted business wisdom. The line between "inspiringly bold" and "foolishly reckless" can be a millimeter thick and only visible with hindsight. Risk and luck are doppelgängers. Takeaways forinvesting: Be careful who you praise and admire. That commenter who bought $SHOP at $30 may look like a genius on the outside, but they may just be lucky and cannot repeat it again. Be careful who you look down upon and wish to avoid becoming. That poster who put a bull argument for Luckin Coffee may look like a fool, but they made the best decision based on the information they had at a time. They took a risk and got unlucky. Therefore, focus less on specific individuals and case studies and more on broad patterns. Furthermore, when things are going extremely well, realize it's not as good as you think -- like the stock market right now. On the other hand, we should forgive ourselves and leave room for understanding when judging failures -- like the stock market in March. Never Enough The hardest financial skill is getting the goalpost to stop moving. It gets dangerous when the taste of having more -- more money, more power, more prestige -- increases ambition faster than satisfaction. Social comparison is the problem here. A rookie baseball players who earns $500k a year envies Mike Trout who has a 12-year, $430 million contract envies a hedge fund manager who makes $340 million a year envies Warren Buffett who had a $3.5 billion increase in fortune in 2018. There are many things never worth risking, no matter the potential gain. Reputation is invaluable. Freedom and independence are invaluable. Friends and family are invaluable. Being loved by those who you want to love you is invaluable. Happiness is invaluable. And your best shot at keeping these things is knowing when it's time to stop taking risks that might harm them. Knowing when you have enough. Takeaways forinvesting: When you make a big gain, it's totally okay to take profit, as long as you keep your ambition down and acknowledge the possibility that it may go higher. If that happens, no need to play the would've should've could've game, because it very well might've gone the other way. When you see someone who got 20x return on Amazon or bet big into Ethereum in 2016, remember they may envy the pre-IPO employees at Amazon or the genius who held Bitcoin since 2010. At the end of the day, do not risk more than what's comfortable in your life for the sake of making huge amount of money, because even if you do make it, you may not find it worth it. Tails, You Win Skipping a few chapters to talk about the prominence of tail events. At the Berkshire Hathaway shareholder meeting in 2013 Warren Buffet said he's owned 400 to 500 stocks during his life and made most of his money on 10 of them. Charlie Munger followed up: "If you remove just a few of Berkshire's top investments, its long-term track record is pretty average." In 2018, Amazon drove 6% of the S&P 500's returns. And Amazon's growth is almost entirely due to Prime and Amazon Web Services, which itself are tail events in a company that has experimented with hundreds of products, from the Fire Phone to travel agencies. Apple was responsible for almost 7% of the index's returns in 2018. And it is driven overwhelmingly by the iPhone, which in the world of tech products is as tail--y as tails get. And who's working at these companies? Google's hiring acceptance rate if 0.2%. Facebook's is 0.1%. Apple's is about 2%. So the people working on these tail projects that drive tail returns have tail careers. Takeaways forinvesting: When we pay special attention to a role model's successes we overlook that their gains came from a small percent of their actions. That makes our own failures, losses, and setbacks feel like we're doing something wrong. When you accept that tails drive everything is business, investing and finance you will realize that it's normal for lots of things to go wrong, break, fail and fall. If you are a good stock picker you'll be right maybe half the time. If you're a good business leader maybe half of your product and strategy ideas will work. If you're a good investor most years will be just OK, and plenty will be bad. If you're a good worker you'll find the right company in the right field after several attempts and trials. And that's if you're good. Freedom The highest form of wealth is the ability to wake up every morning and say "I can do whatever I want today." The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays. Research has shown having a strong sense of controlling one's life is a more dependable predictor of positive feelings of wellbeing than any of the objective conditions of life we have considered. People like to feel like they're in control -- in the drivers' seat. When we try to get them to do something, they feel disempowered. Rather than feeling like they made the choice, they feel like we made it for them. So they say no or do something else, even when they might have originally been happy to go along. Takeaways forinvesting: If your job is a thought-based and decision job, your tool is your head, which never leaves you. You might be thinking about your project during your commute, as you're making dinner, while you put your kids to sleep, and when you wake up stressed at three in the morning. You might be on the clock for fewer hours than you would in 1050. But it feels like you're working 24/7. If this feels like you, and you do not like it, it is totally fine to switch to a job that pays less but gives you more freedom and independence, because freedom and independence are ultimate form of wealth. --- I'm only half way into the book, but I can tell this will be one of the best finance book of 2020. If you guys find this useful, happy to come back next week with more insights once I've gotten to the end.
MicroStrategy's $425M BTC investment thesis - "buy something that can either get cut in half or 10x"
Amidst all of the DeFi volatility, drama and excitement, Bitcoin has started to seem rather boring. Its price is more or less flat to where it was a year ago and you can’t even farm Yams with it. While some have started to view Bitcoin as a useless digital rock, someone did find an interesting use case for it. This week, more details surfaced around how MicroStrategy CEO Michael Saylor convinced the board of a publicly traded company to allocate nearly all of the company’s $500M cash position to bitcoin. Michael Saylor Saylor graduated from MIT in 1987 and founded Microstrategy at the age of 24. MicroStrategy is a “Business Intelligence” company, which basically creates software that allows companies to use their own data to drive decision making. Interesting side note - Saylor, like any good 90’s internet entrepreneur, also bought a bunch of internet domains and was the guy who ultimately sold Voice.com to Block.One (EOS) for $30M. MicroStrategy’s’ $500M Problem To most people, having $500 million in cash doesn’t sound like a problem. Up until recently, it wasn’t for large corporations either. There was a time before the ‘08 financial crisis when the risk free rate of return on cash was 5% a year. This means a company could sit on $500M, earn $25M a year for doing nothing, and have cash on hand for a rainy day. Fast forward to today, when the risk free rate of return has plummeted to 0.69% due to loose fiscal policies (money printer go BRRRR) alongside inflating asset prices, and it’s a different story. In Saylor’s own words, “we just had the awful realization that we were sitting on top of a $500 million ice cube that’s melting.” Cash is Trash So what’s a corporation to do with a $500M melting ice cube? It turns out it’s not that easy to unload half a billion dollars in a short amount of time. You could buy back half a billion of your own company’s shares. For a company like MSTR, Saylor estimated that would take 4 years. Time MiscroStrategy didn’t have. You could buy real estate. However, commercial real estate prices have collapsed post COVID while property owners still believe their assets are worth what they were in January. In other words, good luck getting a fair market price. You could buy blue chip equities. Amazon, Apple, Google, Facebook. However, your risk is symmetric. They can each fall 50% just as easily as they can go up 50%. That left Saylor with silver, gold, Bitcoin, and other alternative assets. A move the company announced it was exploring on a July earnings call. A Bold Purchase Saylor ultimately wanted something that could either get cut in half, or go up by a factor of 10. An investment akin to what buying Amazon or Apple in 2012 was. In other words, asymmetric risk. As a student of technological history, Saylor observed that the winning strategy over the last ten years has been to find some kind of “digitally dominant network” that dematerializes something fundamental to society. Apple dematerialized mobile communications. Amazon dematerialized commerce. Google dematerialized the process of gathering information. Something Saylor noted was common to all recent 10X opportunities is buying when they’ve achieved $100B+ marketcaps and are ten times the size of their next biggest competitor. As Bitcoin is the dominant digital network dematerializing money that’s 10x the size of any cryptocurrency competing to be a store-of-value (not counting ETH here), it fit the bill. Making the purchase With the thesis in place, the next thing Saylor had to do was get everyone at MicroStrategy to sign-off on the unorthodox decision. To do this, he simply made everyone go down the same Bitcoin rabbithole that most people in the industry have gone down. He made everyone at the company watch Andreas Antonopoulous videos, read The Bitcoin Standard, watch Eric Vorhees debate Peter Schiff and listen to Pomp and NLW podcasts. With no strong detractors, MicroStrategy turned to execution. They first put $250M to work purchasing 21,454 BTC in August and another $175M (16,796 BTC) in September for a total $425M and 38,250 BTC. What’s fascinating is that MicroStrategy was able to open such a large position without really moving the market or anyone even taking notice. This speaks to just how liquid of an asset BTC has become. To acquire the September tranche of BTC, Saylor disclosed that they traded continuously for 74 hours, executing 88,617 trades of .19 BTC every 3 seconds. One for the history books Skeptics noted that shares of MSTR have been on the downtrend since 2013, as the real reason behind MicroStrategy’s bold move. Regardless, the move has interesting implications for the company’s shareholders. As TBI observed, MicroStrategy is now both a software company and with ⅓ of its marketcap in Bitcoin, a pseudo Bitcoin ETF. At the time of writing, MSTR is up 20% on the week. Only time will tell if history looks back on this move as a brilliant strategic decision or a massive corporate blunder. In the short term, it scores a massive win for Bitcoin’s digital gold investment thesis. Billionaire hedge fund manager Paul Tudor Jones is in. A publicly traded corporation has made Bitcoin it’s primary treasury asset. As CFOs and fund managers around the world undoubtedly take notice, one has to wonder, who’s next? PS - I based a lot of this article on Pomp’s interview with Michael Saylor, which I recommend giving a listen. Original article Source
You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments. It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
Accountable - The public ledger is transparent, all transactions are seen by everyone.
Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works. You can even run a node on a Raspberry Pi.
Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
Low fee scaling - On chain transaction fees depend on network demand and how much priority you wish to assign to the transaction. Most wallets calculate on chain fees automatically but you can view current fees here and mempool activity here. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet.
Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply memorizing a string of words for wallet recovery (while cool this method is generally not recommended due to potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for new users due to ease of use and additional security).
Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage. Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".
Securing your bitcoins
With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger or ColdCard is recommended. Alternatively there are many software wallet options to choose from here depending on your use case.
If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".
Where can I spend bitcoins?
Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.
Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.
The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
one bitcoin is equal to 100 million satoshis
1,000 per bitcoin
used as default unit in recent Electrum wallet releases
1,000,000 per bitcoin
colloquial "slang" term for microbitcoin (μBTC)
100,000,000 per bitcoin
smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki. Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval. Welcome to the Bitcoin community and the new decentralized economy!
Good morning once again! This listing is for items that did not sell during the October 11 Auction (most likely due to BP/fees, or maybe just because the "right" buyer didn't see the auction, who knows) - so you can buy anything you want right here and right now - no buyer's premiums, no additional fees - JUST DISCOUNTS ON EVERYTHING: *FREE shipping for any order over $100. *All the Graded/Slabbed Coins are available at 30% off the listed price guide (which should be accurate, was checked about a month ago.) *Any Sterling Silver non-coin item will be available at MELT (plus shipping.) *EVERYTHING ELSE is 10% off the listed start price. Each lot was individually imaged (front and back) for the auction - so the easiest way for you to see exactly what you're buying is to visit the auction link (the auction is over, so I'm not advertising anything different or advertising an upcoming auction) - so here that is: https://www.auctionzip.com/auction-catalog/HTF-Coins-Silver,-US,-Foreign-more_FYWN25UAV6?page=0&searchWithAll=&size=200&sort= Here is the required "prove you still have the stuff" photo with the username card and today's date: PHOTO Payment: PayPal. I do not have Venmo/Zello/Bitcoin or any other form of digital payment at this time. No notes if using PPFF, please. Thank you. Shipping: I will charge you what it costs me for the USPS label rounded up to the nearest dollar. For First Class that is usually $4, for USPS Priority Mail Flat Rate Small Box it will be $9. I will get you a tracking number right after payment is received and will get your package scanned into the USPS system within 24 hours of receipt of payment. I will offer "Risky Shipping" (via stamped greeting card)at my discretionfor $1 - for single, small coins ONLY.NOTE: These prices are for Continental US shipping only - if you live outside the continental US, shipping will be more expensive. I am still happy to do it under the same rules as above, but just keep in mind it's going to cost more. What do YOU need to do to buy coins from this group: send me a list of which lots you want (for example, I want to buy lots # 51, 52, 53, 54, 55) and I will send you a total. There are too many coins here (plus there are duplicates) so I cannot look up the coins you want by description - just give me lot numbers and it will be much simpler. I'd like to make a simple and polite request - if I have sent you my PayPal information (meaning we've agreed to a deal) please finish it up as soon as you can so I can check you off the list and move on to the next person. This helps make sure you get all the coins we discussed and no one else is in limbo. I will do my absolute best to update the ad as soon as lots sell.
11 1973 Proof Set $9.00 12 1973 Proof Set $9.00 13 1974 Proof Set $9.00 15 1975 Proof Set $9.00 17 1975 Proof Set $9.00 18 1975 Proof Set $9.00 19 1975 Proof Set $9.00 20 1975 Proof Set $9.00 21 1975 Proof Set $9.00 22 1975 Proof Set $9.00 23 1975 Proof Set $9.00 24 1975 Proof Set $9.00 25 1975 Proof Set $9.00 26 1975 Proof Set $9.00 27 1976 Proof Set $9.00 28 1976 Proof Set $9.00 29 1977 Proof Set $6.00 30 1977 Proof Set $6.00 31 1977 Proof Set $6.00 32 1977 Proof Set $6.00 33 1978 Proof Set $6.00 34 1978 Proof Set $6.00 35 1978 Proof Set $6.00 36 1978 Proof Set $6.00 37 1978 Proof Set $6.00 38 1975 Proof Set $9.00 51 Toner US Type Set 1 $55.00 52 Toner US Type Set 2 $30.00 53 Toner US Type Set 3 $30.00 54 1949 S Franklin Half UNC KEY DATE $40.00 55 1949 S Franklin Half UNC KEY DATE $40.00 59 1949 S Franklin Half UNC KEY DATE $40.00 60 1976 D Eisenhower Dollar UNC MINT CELLO $4.00 64 1977 D Eisenhower Dollar UNC MINT CELLO $4.00 65 Toner US Type Set 4 $25.00 66 Toner US Type Set 5 $30.00 67 1953 D Franklin Half UNC FULL BELL LINES $25.00 68 Toner US Type Set 6 $65.00 70 1936 Mercury Dime Doubled Die Obverse HIGH GRADE $30.00 73 1955 Roosevelt Dime UNC TONED $8.00 75 1955 S Roosevelt Dime UNC TONED $5.00 76 1955 S Roosevelt Dime UNC TONED $5.00 78 World Silver - Canada 1913 25 Cents $5.00 80 1956 Roosevelt Dime UNC TONED $8.00 81 1958 D Roosevelt Dime UNC TONED $5.00 83 1964 Roosevelt Dime UNC TONED $3.00 84 1964 Roosevelt Dime UNC TONED $3.00 85 World Silver - Canada 1906 10 Cents $3.00 89 1928 S/S Standing Liberty Quarter Rainbow Toned $20.00 90 1974 D Eisenhower Dollar UNC MINT CELLO $4.00 94 France - 1865 BB 5 Centimes $1.00 95 Illinois Governer Otto Kerner Inauguration Medal $4.00 96 1928 S "Inverted MM" Standing Liberty Quarter $35.00 113 Type Coin Lot $50.00 114 50 Indian Head Cents, Mixed Dates & Conditions $40.00 115 50 Indian Head Cents, Mixed Dates & Conditions $40.00 116 50 Indian Head Cents, Mixed Dates & Conditions $40.00 117 75 Indian Head Cents, Mixed Dates & Conditions $60.00 154 1958 Type B Washington Quarter UNC $12.00 156 1956 Washington Quarter UNC RAINBOW TONED $15.00 158 Denmark - 1921 5 Ore $2.00 159 1968 D Kennedy Half UNC TONED $10.00 160 1958 Type B Reverse Washington Quarter UNC $15.00 162 1959 Type B Reverse Washington Quarter UNC $12.00 163 1959 Type B Reverse Washington Quarter UNC TONED $15.00 166 1960 Type B Reverse Washington Quarter UNC $12.00 167 1960 Type B Reverse Washington Quarter UNC $12.00 170 1875 Indian Head Cent $3.00 171 1963 Type B Reverse Washington Quarter UNC TONED $15.00 172 1963 Type B Reverse Washington Quarter UNC TONED $15.00 173 1964 Kennedy Half Mint Clip Error $15.00 175 1964 D Washington Quarter UNC TONED $12.00 179 Stag Beer Wooden Nickel "Fair on the Square" $1.00 180 The TV Shop Slidell, LA One Wooden Buck $1.00 185 St Helena - 1981 25 Pence (Crown Sized) $3.00 190 1996 D Kennedy Half UNC MINT CELLO $2.00 191 State of Missouri Sesquicentennial Medal $2.00 193 State of Missouri Sesquicentennial Medal $2.00 194 State of Missouri Sesquicentennial Medal $2.00 199 1974 D Kennedy Half Dollar DDO UNC $35.00 200 Star Wars Episode III Limited Edition Token/Medal $3.00 253 1978 D Kennedy Half Dollar UNC from Mint Set GEM BU TONED $40.00 255 World Silver - Switzerland 1953 1/2 Franc $3.00 256 1979 Kennedy Half Dollar UNC from Mint Set GEM BU TONED $15.00 257 1986 D Kennedy Half Dollar UNC from Mint Set GEM BU TONED $30.00 258 1986 D Kennedy Half Dollar UNC from Mint Set GEM BU TONED $15.00 259 1954 S Washington Quarter UNC $15.00 260 1957 Washington Quarter UNC TONED $15.00 261 1963 Type B Reverse Washington Quarter UNC TONED $30.00 262 1999 D Kennedy Half Dollar UNC from Mint Set GEM BU PROOFLIKE $10.00 265 Panama - 1975 Proof 5 Centesimos in OGP cello $1.00 266 1971 D Eisenhower Dollar "Talon Head" Obverse Die Clash / "Moon Line" Reverse Die Clash UNC TONED $20.00 269 Maybrook NY Golden Jubilee Good For 10 Cent Wooden Nickel $1.00 270 Maybrook NY 1975 Golden Jubilee 25 Cent Wooden Nickel $1.00 271 World Silver - Australia 1939 Sixpence $4.00 272 1974 Eisenhower Dollar UNC RAINBOW TONED $20.00 274 1957 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 275 1974 D Eisenhower Dollar UNC RAINBOW TONED $15.00 276 World Silver - Australia 1920 Shilling $8.00 277 1959 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 278 2010 S Buchanan Presidential Golden Dollar from Proof Set with Doubled Edge Lettering $10.00 279 1960 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 280 World Silver - Australia 1943 Shilling $8.00 281 1961 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 282 2011 S Johnson Presidential Golden Dollar from Proof Set with Doubled Edge Lettering $10.00 286 1963 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 287 1983 Lincoln Cent DDO FS-101 $40.00 288 1964 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 289 1983 Lincoln Cent DDO UNC $40.00 290 1983 Lincoln Cent DDO UNC GEM BU $75.00 291 1964 D Washington Silver Quarter UNC TONED $10.00 292 2000 "Wide AM" Lincoln Cent UNC $20.00 293 1960's Terre Haute, IN Sesquicentennial Wooden Nickel $1.00 294 .999 Silver 1 oz MLB Mike Piazza Limited Edition Silver Proof Round $30.00 295 1964 "The American Indian - America's First Pioneer" 1 oz .999 Silver Round $30.00 296 "Winter Scenes" Sterling Silver Art Round $25.00 297 Illinois "Illiniwek" Mascot Sterling Silver Art Round TONED $25.00 298 1982 Buffalo NY Sesquicentennial Wooden Nickel $1.00 299 1958 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 300 1959 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 351 1960 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 352 Denmark - 1950 5 Ore KEY DATE $25.00 353 1961 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 357 1990 Rappahannock Area Coin Club Wooden Nickel $1.00 359 1962 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 360 Old Time Wooden Nickel Co Support Our Troops Wooden Nickel $1.00 361 1963 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 362 Switzerland - 1874 B 5 Rappen $40.00 363 1964 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 366 1957 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 368 1958 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 370 1959 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 371 Great Britain - 1920 1/2 Crown NICE $60.00 372 New Zealand - 1942 1/2 Crown $35.00 373 1960 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 374 Sudan - 1972 50 Ghirsh UNC $4.00 375 1961 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 377 Clear Lake, IA Perkins Wooden Nickel $1.00 378 Lake of the Woods 40th Anniversary Bimetallic Token $1.00 379 1962 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 380 Great Britain - 1981 25 New Pence UNC $3.00 383 Guyana - 1970 1 Dollar UNC $3.00 384 New Zealand - 1953 1 Crown $5.00 385 Illawarrra Numismatic Association Membership Discount Wooden Nickel Token $1.00 386 San Juan Quality Royale Casino Token $1 Face Value $2.00 388 Artisan Silverworks Temecula, CA Wooden Nickel $1.00 390 1963 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 393 Netherlands East Indies - 1945 S 1 Cent UNC $2.00 394 1964 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 395 1957 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 396 Netherlands Antilles - 1965 2.5 Cents UNC TONED $10.00 397 Virginia Numismatic Association Encased Cent $3.00 398 Netherlands - 1921 1/2 Cent BETTER DATE $3.00 399 Netherlands - 1922 1/2 Cent BETTER DATE $5.00 400 1958 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 451 1959 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 452 Belgium - 1902 1 Centime $1.00 453 Netherlands Antilles - 1959 1 Cent UNC $4.00 454 Belgium - 1901 1 Centime $2.00 455 Canada - 1930 5 Cents NICE $8.00 456 Canada - 1930 5 Cents NICER $10.00 458 Canada - 1948 5 Cents $1.00 461 Barbados - 1973 Proof 5 Cents in OGP $1.00 462 Barbados - 1973 Proof 1 Dollar in OGP $1.00 463 Barbados - 1973 Proof 25 Cents in OGP $1.00 464 Barbados - 1973 Proof 10 Cents in OGP $1.00 465 World Silver - Canada 1882 H Ten Cents $10.00 466 World Silver - Canada 1886 Ten Cents $15.00 467 2009 P Lincoln Cent "Formative Years" Doubled Die Reverse Book High UNC $2.00 469 Trinidad & Tobago - 1973 Proof 10 Cents in OGP $1.00 470 World Silver - Canada 1899 Ten Cents $8.00 471 Trinidad & Tobago - 1973 Proof 1 Cent in OGP $1.00 472 British Virgin Islands - 1974 Proof 10 Cents in OGP cello $1.00 473 Trinidad & Tobago - 1973 Proof 50 Cents in OGP $1.00 474 World Silver - Canada 1908 Ten Cents $4.00 476 British Virgin Islands - 1973 Proof 1 Cent in OGP $1.00 477 Netherlands - 1906 1 Cent NICE $1.00 478 British Virgin Islands - 1973 Proof 25 Cents in OGP $1.00 479 1961 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 480 Barbados - 1980 Proof 25 Cents in OGP cello $1.00 481 1962 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 482 Panama - 1976 Proof 5 Centesimos in OGP cello $1.00 483 Panama - 1976 Proof 10 Centesimos in OGP cello $1.00 484 Netherlands - 1912 1/2 Cent NICE $3.00 485 1963 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 486 1964 Type B Reverse Washington Silver Quarter (starts at melt) $5.00 488 Netherlands East Indies - 1921 1/2 Cent NICE KEY DATE $12.00 490 British Virgin Islands - 1974 Proof 1 Cent in OGP $1.00 491 Denmark - 1920 10 Ore Doubled Die Obverse (date) $5.00 492 India - 2010 10 Rupees UNC $1.00 494 British Virgin Islands - 1974 Proof 5 Cents in OGP cello $1.00 495 France - 1946 C 5 Francs $3.00 497 World Silver - Canada 1874 H 25 Cents $8.00 498 British Virgin Islands - 1974 Proof 10 Cents in OGP $1.00 499 France - 1952 5 Francs KEY DATE $10.00 500 France - 1946 5 Francs $1.00 551 Switzerland - 1906 1 Rappen BETTER DATE $10.00 552 World Silver - Switzerland 1963 1 Franc NICE $5.00 553 Switzerland - 1902 2 Rappen KEY DATE FIRST YEAR $15.00 554 Panama - 1975 Proof 1 Centesimo in OGP $2.00 555 Panama - 1975 Proof 10 Centesimos in OGP $3.00 556 Panama - 1976 Proof 10 Centesimos in OGP $2.00 557 Switzerland - 1910 2 Rappen BETTER DATE $10.00 558 2009 P Lincoln Cent "Formative Years" Doubled Die Reverse Book Low UNC $2.00 559 Panama - 1975 Proof 25 Centesimos in OGP $2.00 561 Panama - 1975 Proof 5 Centesimos in OGP $2.00 562 Panama - 1976 Proof 5 Centesimos in OGP $4.00 568 Panama - 1974 Proof 5 Centesimos in OGP cello $1.00 570 France - 1889 A 5 Centimes $1.00 572 Panama - 1973 Proof 1/10 Balboa in OGP $1.00 573 France - 1854 D 5 Centimes $1.00 574 Barbados - 1973 Proof 1 Cent $1.00 575 Panama - 1973 Proof 1/4 Balboa in OGP $1.00 576 France - 1862 K 5 Centimes $1.00 577 1934 Washington Quarter Medium Motto NICE $15.00 579 Liberia 1941 2 Cents NICE $6.00 580 World Silver - Denmark 1874 25 Ore $6.00 581 Liberia - 1974 Proof 5 Cents in OGP $1.00 583 France - 1856 BB 5 Centimes $1.00 584 Liberia - 1974 Proof 10 Cents in OGP $1.00 585 Mexico Mint Set 1965 (includes silver) $5.00 587 Mexico Mint Set Mixed Dates (includes silver) $5.00 588 France - 1863 K 5 Centimes $2.00 590 France - 1855 D 5 Centimes $1.00 593 France - 1854 K 5 Centimes $1.00 594 Bahamas - 1970 Proof 1 Cent in OGP $1.00 595 France - 1853 D 10 Centimes $1.00 596 France - 1856 K 10 Centimes $1.00 599 France - 1854 W 10 Centimes $1.00 600 2009 P Lincoln Cent "Formative Years" Doubled Die Reverse Book Low UNC $2.00 651 2009 P Lincoln Cent "Formative Years" Doubled Die Reverse Book Low UNC $2.00 652 2009 P Lincoln Cent "Formative Years" Doubled Die Reverse Book Low UNC $2.00 653 2009 P Lincoln Cent "Formative Years" Doubled Die Reverse 012 UNC $2.00 654 2009 P Lincoln Cent "Formative Years" Doubled Die Reverse 012 UNC $2.00 655 2009 P Lincoln Cent "Formative Years" Doubled Die Reverse 012 UNC $2.00 658 World Silver - Austria - 1868 10 Kreuzer $2.00 660 World Silver - Canada 1916 25 Cents $6.00 661 Greece - 1959 10 Drachmai UNC $10.00 663 World Silver - Canada 1921 25 Cents $8.00 664 World Silver - Canada 1921 25 Cents $8.00 666 2009 P Lincoln Cent "Formative Years" Doubled Die Reverse 001 UNC $2.00 667 2009 P Lincoln Cent "Formative Years" Doubled Die Reverse 002 UNC $2.00 670 Barbados - 1973 Proof 1 Cent and 5 Cents in OGP (two coins) $1.00 671 Barbados - 1973 Proof 10 Cents and 25 Cents in OGP (two coins) $1.00 672 Cayman Islands - 1974 Proof 5 Cents and 10 Cents in OGP (two coins) $1.00 673 Bahamas - 1973 and 1974 Proof 1 Cents in OGP (two coins) $1.00 674 Bahamas - 1973 and 1974 Proof 5 Cents in OGP (two coins) $1.00 675 Switzerland - 1921 10 Rappen NICE $8.00 676 Switzerland - 1936 2 Rappen KEY DATE $5.00 677 World Silver - Switzerland 1955 1/2 Franc BETTER DATE $4.00 679 1982 Silver Proof George Washington Commemorative Half Dollar in OGP $11.00 680 1982 Silver Proof George Washington Commemorative Half Dollar in OGP $11.00 681 1982 Silver Proof George Washington Commemorative Half Dollar in OGP $11.00 682 1982 Silver Proof George Washington Commemorative Half Dollar in OGP $11.00 684 World Silver - Saint Thomas & Prince Island (Sao Tome et Principe) 1951 2 1/2 Escudos LOW MINTAGE $25.00 685 1986 Proof 2 CoinStatue of Liberty Set (Silver Dollar and Clad Half) in OGP $22.00 686 1986 Proof 2 CoinStatue of Liberty Set (Silver Dollar and Clad Half) in OGP $22.00 687 Bahamas - 1976 Proof 25 Cents in OGP $1.00 689 Two French Notgeld Tokens $2.00 690 1986 Proof 2 CoinStatue of Liberty Set (Silver Dollar and Clad Half) in OGP $22.00 691 Two French Notgeld Tokens $2.00 692 1986 Proof 2 CoinStatue of Liberty Set (Silver Dollar and Clad Half) in OGP $22.00 693 Mexico - 1954 5 Centavos UNC $3.00 694 World Silver - Japan 1932 50 Sen $6.00 695 Mexico - 1966 20 Centavos UNC $5.00 696 1986 Silver Proof Statue of Liberty Dollar in OGP $20.00 697 World Silver - Canada 1929 10 Cents $3.00 698 1986 Silver Proof Statue of Liberty Dollar in OGP $20.00 699 Mexico - 1973 20 Centavos UNC $6.00 700 World Silver - Canada 1948 10 Cents $3.00 751 1986 Silver Proof Statue of Liberty Dollar in OGP $20.00 752 Mexico - 1955 5 Centavos $1.00 753 Mexico - 1955 5 Centavos $1.00 755 Canada - "Heads and Tails" RCM Mint Booklet with 1968 Mint Set $5.00 756 Four Canada 1991 UNC Cents (4 coins) in OGP CELLO $1.00 757 Four Canada 1991 UNC 5 Cents (4 coins) in OGP CELLO $1.00 759 Four Canada 1991 UNC 10 Cents (4 coins) in OGP CELLO $2.00 760 Philippines - 1975 Proof 10 Cents in OGP $1.00 761 Nepal 1974 Proof Set LOW MINTAGE $3.00 762 Philippines - 1975 Proof 5 Cents in OGP $1.00 766 Four Canada 1991 UNC 50 Cents (4 coins) in OGP CELLO $4.00 767 Four Canada 1991 UNC 1 Dollar (4 coins) in OGP CELLO $7.00 768 Belize 1974 Uncirculated Specimen Set in OGP $25.00 771 Jamaica - 1976 Proof 1 Cent in OGP $1.00 773 1961 Silver Proof Washington Quarter DEEP CAMEO $10.00 774 1964 D Washington Quarter UNC TONED $8.00 775 1961 Silver Proof Washington Quarter DEEP CAMEO $10.00 776 1974 P Kennedy Half Dollar UNC MINT CELLO $2.00 777 Poland - 2014 2 Zlotych UNC $2.00 778 Two Mixed World Coins $1.00 779 1959 Silver Proof Washington Quarter DEEP CAMEO $10.00 780 1956 Silver Proof Washington Quarter $6.00 781 1956 Silver Proof Washington Quarter $6.00 782 Two Mixed Tokens $1.00 783 1976 P Kennedy Half Dollar UNC MINT CELLO $2.00 785 1956 Silver Proof Washington Quarter $6.00 787 1941 S "Large S" Lincoln Wheat Cent $1.00 789 1953 Silver Proof Washington Quarter NICE $20.00 794 2011 S Silver Proof Glacier Quarter $6.00 795 St Pierre & Miquelon - 1948 1 Franc UNC $8.00 796 2013 S Silver Proof Great Basin Quarter $6.00 800 1995 Lincoln Cent Doubled Die Obverse $20.00 851 1971 Lincoln Memorial Cent NGC MS67RD (Price Guide $195) 852 1971 Jefferson Nickel NGC MS66 6FS (Price Guide $125) 853 1946 S Roosevelt Dime NGC MS67FT (Price Guide $95) 854 World Silver - Egypt AH1293 (Year 10; 1884) 10 Qirsh $12.00 856 1965 Roosevelt Dime NGC MS67 FULL TORCH (Price Guide $750) 857 1965 Washington Quarter NGC MS66 (Price Guide $30) 858 1971 Washington Quarter NGC MS66 (Price Guide $50) 859 1971 D Washington Quarter NGC MS67 (Price Guide $65) 860 1963 D Franklin Half Dollar NGC MS65 FULL BELL LINES (Price Guide $190) 861 1971 D Kennedy Half Dollar NGC MS67 (Price Guide $120) 862 1971 P Eisenhower Dollar NGC MS65 (Price Guide $80) 863 1825 Half Cent NGC VG10BN (Price Guide $85) 864 1939 S Jefferson Nickel PCGS MS65 Rev 1940 (Price Guide $90) 865 1943 P Silver Jefferson Nickel DDO (Doubled Eye) NGC XF45 (Price Guide $75) 866 1941 D Jefferson Nickel NGC MS66 5 Full Steps (Price Guide $40) 867 1941 D Jefferson Nickel NGC MS67 5 Full Steps (Price Guide $175) 868 2011 S Silver Proof Chickasaw Quarter $6.00 869 2013 S Silver Proof White Mountain Quarter $6.00 870 1943 D Jefferson Nickel Old NGC MS67 (Price Guide $90) 871 1956 D Jefferson Nickel NGC MS65 TONED (Price Guide $20) 872 1956 D Jefferson Nickel NGC MS65 TONED (Price Guide $20) 873 1958 Proof Jefferson Nickel NGC PF69 (Price Guide $110) 874 1978 D Jefferson Nickel NGC MS66 5 Full Steps (Price Guide $60) 875 1945 S Micro S Mercury Dime NGC MS66 (Price Guide $140) 876 1946 S/S Washington Quarter RPM-002 NGC MS65 (Price Guide $75) 877 1946 S/S Washington Quarter RPM-002 NGC MS65 (Price Guide $75) 878 1947 S/S Washington Quarter RPM-001 NGC MS66 (Price Guide $285) 879 1950 Washington Quarter DDR NGC MS66 (Price Guide $150) 880 1957 Washington Quarter Type B Reverse PCGS MS66 (Price Guide $110) 881 1958 Washington Quarter Type B Reverse NGC MS65 (Price Guide $100) 882 2013 S Silver Proof Fort McHenry Quarter $6.00 883 1959 Washington Quarter Type B Reverse NGC MS64 (Price Guide $40) 884 1959 Washington Quarter Type B Reverse NGC MS64 (Price Guide $40) 885 1959 Washington Quarter Type B Reverse NGC MS64 (Price Guide $40) 886 Canada - 1962 "Hanging 2" 1 Cent UNC $8.00 887 1959 Washington Quarter Type B Reverse NGC MS65 (Price Guide $55) 888 1959 Washington Quarter Type B Reverse NGC MS65 (Price Guide $55) 889 1959 Washington Quarter Type B Reverse NGC MS65 (Price Guide $55) 890 1959 Washington Quarter Type B Reverse NGC MS65 (Price Guide $55) 891 1959 Washington Quarter Type B Reverse NGC MS65 (Price Guide $55) 892 1960 Washington Quarter Type B Reverse NGC MS65 (Price Guide $65) 893 1960 Washington Quarter Type B Reverse NGC MS64 (Price Guide $50) 894 1960 Washington Quarter Type B Reverse NGC MS64 (Price Guide $50) 896 1960 Washington Quarter Type B Reverse NGC MS65 (Price Guide $65) 897 1960 Washington Quarter Type B Reverse NGC MS65 (Price Guide $65) 898 1960 Washington Quarter Type B Reverse NGC MS65 (Price Guide $65) 899 1962 Washington Quarter Type B Reverse PCGS MS65 (Price Guide $110) 951 1963 Washington Quarter Type B Reverse PCGS MS65 (Price Guide $130) 952 1963 Washington Quarter Type B Reverse NGC MS65 (Price Guide $130) 953 Philippines - 1944 D/D 20 Centavos NGC AU58 RARE Variety (Priced at $55) 954 1942 Walking Liberty Half DDR NGC AU58 (Price Guide $100) 955 1942 Walking Liberty Half DDR PCGS MS67 GEM (Price Guide $6,000) 956 1953 D Franklin Half Bugs Bunny PCGS MS64FBL (Price Guide $170 957 1954 D Franklin Half Bugs Bunny PCGS MS64FBL (Price Guide $100) 958 1954 D Franklin Half Bugs Bunny PCGS MS64FBL (Price Guide $100) 960 1974 D Kennedy Half DDO PCGS AU58 (Price Guide $35) 961 1977 D Kennedy Half DDO NGC AU58 (Price Guide $175) 962 1977 D Kennedy Half DDO NGC AU58 (Price Guide $175) 963 1977 D Kennedy Half DDO NGC MS61 (Price Guide $250) 964 1977 D Kennedy Half DDO NGC MS62 (Price Guide $350) 965 1977 D Kennedy Half DDO ANACS MS63 (Price Guide $100) 966 1977 D Kennedy Half DDO NGC MS65 (Price Guide $250) 967 1977 D Kennedy Half DDO NGC MS65 (Price Guide $250) 968 1885 O Morgan Dollar NGC MS63 TONED (Priced at $100 due to toning) 969 Sterling Silver Cup Engraved "Johnny" 53.3 grams 971 Sterling Silver Cigarette Case Engraved "CML" 67.5 grams 972 2010 S Silver Proof Mount Hood Quarter $6.00 974 2011 S Silver Proof Olympic Quarter $6.00 976 2010 S Silver Proof Yosemite Quarter $6.00 977 1964 D Washington Quarter BU NICE $5.00 978 1959 D Washington Quarter BU NICE $5.00 979 Sterling Silver Tongs 19.1 grams 980 Sterling Silver Tongs 19.0 grams 981 1984 P Kennedy Half Dollar UNC MINT CELLO $2.00 982 1979 P Kennedy Half Dollar UNC MINT CELLO $2.00 983 1959 D Washington Quarter BU NICE $5.00 984 1959 D Washington Quarter BU NICE $5.00 985 France - 1919 10 Centimes NICE $2.00 986 1953 S Silver Washington Quarter NICE $8.00 987 France - 1945 C 5 Francs $2.00 988 France - 1945 C 5 Francs $2.00 989 Sterling Silver Spoon Engraved "Eugene 1892" 10.0 grams 990 France - 1946 C 5 Francs $3.00 991 France - 1946 C 5 Francs $3.00 992 France - 1946 C 5 Francs $3.00 993 France - 1946 C 5 Francs $3.00 994 1964 D Washington Quarter BU NICE $5.00 995 Sterling Silver Spoon Engraved "1893" 10.0 grams 998 1964 Washington Quarter BU NICE $5.00 999 1962 Washington Quarter BU NICE $5.00
[WTS] Satori Chunks, Maples leafs with animals and hockey on them, regular ass maple leafs, phils
howdy! https://imgur.com/a/gpJjB0h 2017 RCM Lynx : $29 2012 RCM Cougar: $29 2010 RCM Vanc Olympics: $29 2015 RCM Great horned owl : $29 2017 RCM peregrine falcon : $29 2014 CMLs: 4 Avail $28.50 each 2015 CMLs: 3 avail $28.50 each 2016 CML: $28.50 1988 CML : $28.50 (Side toning) 2 milky philharmonics: $28 each (all of the above may have some milk spots) mint Tube of 25 2013 CMLS: $712 (only opening for sigma verification...minty!) Satori Chunks (made by me) 76g: 2 avail $76 67g; $67 58g: $58 60g: $60 2ozt: $62.20 Paypal F&F no comments, venmo, and bitcoin. Trusted and established members can pay with Check, MO, or discreet cash at my discretion. Shipping is $4.50 for first class bubble mailer with tracking. $8 for priority flat rate box Thanks for looking! Please give me a follow on Instagram Satori_Precious_Metals if so inclined
[WTS] Koala's, Privy Maples, ASE's, Vintage PG&G Bar & More!
PROOF I accept Paypal F&F, Zelle, USPS MONEY ORDER &Bitcoin Cash (BCH) only. 5oz Minimum - ALL are in Capsules and in BU condition. A bulk deal can be made if the whole lot is purchased at once. These are my more semi-numismatic lot. Price's set lower than any online source available. 10x 2013 Koala's (Still in capsules & Wrapping) - 35$ ea / 330$ for the lot. 10x 2015 ASE's - 30$ ea. 10x 2016 Silver Britannia's - 27$ ea 10x 2016 Noah's Arks - 27$ ea - 6 Left. 10x 2016 Somali Elephants - 28$ Ea. 4x 2008 BU Maple Leafs - 27$ Ea. 10x 2016 Wolf Privy Maple's - 32$ Ea. 8x 2016 Bear Privy Maple's - 30$ Ea. 2x 2017 Cougar Privy Maple's - 28$ Ea. 1x VINTAGE 10oz Prospector Gold & Gems Bar - 280$ MINIMUM ORDER OF 5oz. These will ship USPS Flat Rate. Buyer pays shipping & signature service! Sigs required! Free Shipping if you buy 50oz or more.
Operation Mockingbird - remember that time when Bitcoin was peer-to-peer electronic cash?
Do you remember what it was like in 2013 and earlier when Satoshi / Gavin were running the project and the goal was more users, merchants and scaling? Do you remember that time when the exciting projects were getting merchants to accept Bitcoin for payments, wallet apps, and maps of businesses and people that used and accepted Bitcoin as money? Do you remember that time when the MIT digital currency initiative (sponsored by Jeffrey Epstein and his mysterious intelligence agency "investment money"), MasterCard, and Western Union all invested in Blockstream who suddenly consolidated control of the Bitcoin development group, smearing and attacking anyone who wouldn't get on board? Remember that time that Theymos, who had been pro-Bitcoin scaling suddenly had a personality change and started censoring and banning anyone who talked about scaling bitcoin from the two largest discussion platforms, bitcoin talk dot org and r\bitcoin? Remember that time when fake Bitcoin celebrities with marketing teams behind them started appearing out of nowhere with the view that we shouldn't increase the capacity of Bitcoin so more people can use it? Remember that time that countless NPC's changed the community's narrative from peer-to-peer electronic cash with the goal of merchant and user adoption to "digital gold" or some kind of digital tulip ponzi scheme that's too expensive to use for day-to-day currency? Remember that time when the miners, now consolidated in CCP controlled China, suddenly voted against their own best-interests, and decided to run software that rate-limits Bitcoin to 5 transactions per second, despite overwhelming community opposition? Pepperidge Farm remembers. This is Operation Mockingbird folks, just a 21st Century version of it. So was SegWit, BSV/CSW, and now this IFP bullshit from Amaury.
How long would it take for BCH to gain more hashwork than BTC?
The numbers here come from fork.lol, starting with this quote from the total work tab:
Just for fun, the approximate total number of SHA256 hashes needed to produce the work: 4889616525911055258773094400.
I'm going to assume that's accurate. As of the time I took the info, fork.lol indicated the total work for the two chains is as follows:
BTC total work: 1138452.56 (trillions) BCH total work: 86510.08 (trillions)
If you add up the total work of the two chains, then BTC's total work reflects 92.94% of the combined total work and conversely the BCH total work is 7.06% of the combined total. Multiplying the fork.lol total estimated number of SHA256 hashes to obtain the total work by those percentages means that it took an estimated 4.54 x 1027 hashes to get the total BTC work, and 3.45 x 1026 hashes to get the total BCH work. Assuming a total BTC chain freeze, it would take an estimated 4.20 x 1027 SHA256 hashes for the BCH total work to equal the current BTC total work. The fork.lol hashrate tab indicates that the combined average estimated hashrate (7 day) for BCH and BTC is approximately 9.382 x 1019 hashes/second. Multiplying the network hashrate per second by 60 seconds and then multiplying by 60 minutes and then multiplying by 24 hours yields an estimated total network hashrate of 8.1 x 1024 hashes/day. If we simply divide the total SHA256 hashes needed to replicate the difference between the BTC total work and the BCH total work, it would take 518 days for BCH to catch a frozen BTC chain. That is to say, if BTC never mined another block, it would take 17 months for BCH to catch up with BTC's current chain work as of today. Thats a pretty simplistic number, and hashrate seems to constantly increase. If we assume total network hashrate increases 0.2% per day, compounded (over 100% annualized), then it would take a mere 422 days for BCH to generate the same chain work as BTC currently has. I have made a few graphs, as I have been following this metric for a long time. This one is the number of days it would take BCH to catch BTC vs. date. You can see that in October of 2018, it would have only taken BCH 135 days to catch BTC if the hash rate was unchanged, and only 98 days with constantly increasing hash rate. The gap between the two has widened in recent months because hash rate keeps increasing in fact, which amplifies the effect. This one reflects BCH's chain work as a percentage of the combined BTC and BCH chain work. Obviously, at the time of the chain split (August 1, 2017), BCH and BTC had exactly equal chain work, so it would have represented 50% of the total chain work. Since then, it has declined as a percentage to the single digits, with no sign that the logarithmic trend will slow any time soon. I didn't chart the full decline (only since September of 2018), but by putting in the 50% at August 1, 2017, it does look like the decline has slowed slightly. This makes sense since the BCH chain work as a % of the combined BTC and BCH work should be approaching an asymptote that reflects the current BCHBTC price ratio, reflected as a percentage (right now that would be at 2.54%).
For the past decade, the FAANG stocks have been unstoppable. By FAANG, I'm referring to: Facebook Amazon Apple Netflix Google, which is a subsidiary of Alphabet Over the trailing 10-year period, the benchmark S&P 500 is up 200%, while the FAANG stocks have delivered an average return of 1,263%. Note that this includes Facebook's 591% return since its initial public offering in 2012. FAANGs have been so popular because of their industry-specific domination and exceptional growth rates. But after more than a decade, even the FAANGs are maturing. As the U.S. and global economy transform in the wake of the coronavirus disease 2019 (COVID-19) pandemic, a new set of superstar stocks appears ready to step into the spotlight. Investors, say goodbye to the FAANG stocks and hello to TIPS. The T stands for Teladoc Health Over the next decade, we're going to witness an incredible push toward precision medicine. Rather than leaning on one-size-fits-all treatments, we'll see individual treatment plans take over. Lower costs and patient/physician convenience will dominate the conversation. These trends suggest that telemedicine giant Teladoc Health (NYSE:TDOC) has truly unlimited upside. Many folks will point out that COVID-19 has been a big catalyst -- and that's 100% true. Total virtual visits more than tripled during the second quarter, with physicians and hospitals wanting to keep at-risk patients out of their offices as much as possible. But this growth story has been evolving for years. With Teladoc on track for $1 billion in sales in 2020 (a 75% compound annual growth rate since 2013), and insurers enjoying the lower cost burden associated with virtual visits, Teladoc's game is still in the very early innings. Its growth story is about to get even more exciting. Teladoc is in the process of acquiring applied health signals company Livongo Health (NASDAQ:LVGO) for $18.5 billion in a cash-and-stock deal. Livongo's solutions rely on artificial intelligence and send its members tips and nudges that lead to lasting behavioral changes. Livongo has doubled or nearly doubled its diabetes member count in each of the past three years. When Teladoc and Livongo become a single company, it could well have tenfold upside over the next decade. The I stands for Intuitive Surgical To really drive home the importance of precision medicine, I'm doubling down on exposure to medical-device innovation with Intuitive Surgical (NASDAQ:ISRG), the developer of the da Vinci surgical system that aids a variety of soft tissue surgeries. Why Intuitive Surgical? To begin with, it has what looks to be an insurmountable market share advantage in surgical-assisted systems. As of the end of June, Intuitive Surgical had installed 5,764 of its da Vinci systems worldwide -- far more than all of its competitors combined. This has allowed the company to build rapport with hospitals and surgical centers. It also doesn't hurt that these machines cost anywhere from $0.5 million to $2.5 million, making it unlikely that its clients will ever switch to a competitor. This is also a company built to generate juicier operating margins over time. During the 2000s, the da Vinci system made up the lion's share of Intuitive Surgical's sales. Unfortunately, the margins on these highly intricate machines aren't that great, but as the installed base of da Vinci systems has grown, so has the percentage of sales tied to servicing and procedure-specific instruments. These are much higher-margin sales segments poised to grow throughout the 2020s. There's plenty of opportunity for Intuitive Surgical to grow its share in various soft tissue surgical indications. The company offers double-digit growth potential for a long time to come. The P stands for Pinterest In the years to come, popular social media and e-commerce sites are going to have a field day. That's why it's smart for investors to buy into Pinterest (NYSE:PINS), which offers exceptional growth potential on both fronts. Though it's difficult to maintain user growth over a long period of time in the social media space, this hasn't phased Pinterest. In the June-ended quarter, it tallied 416 million monthly active users (MAU), which is up a cool 116 million MAU from the year-ago period. While COVID-19 keeping people in their homes has certainly encouraged increased screen time, the really noteworthy statistic is that Pinterest has seen more than 90% of its MAU growth come from international markets. On the downside, international users offer much lower revenue per user than MAUs in the United States. However, Pinterest more than doubled its average revenue per international user in 2019. It's these overseas users that offer Pinterest sustainable double-digit growth potential. There's also the company's push into e-commerce. Since Pinterest provides a platform for its users to share what products and interests matter to them, it makes sense to connect small businesses to these presumably motivated shoppers. The company is focused on user convenience and maintaining engagement. It could well become a popular e-commerce destination in the years to come. The S stands for Square Finally, investors will want to own preeminent fintech stock Square (NYSE:SQ) to take advantage of ongoing innovation in the payment space. You're probably familiar with or have used one of Square's point-of-sale devices at some point. Between 2012 and 2019, the gross payment volume on Square's seller ecosystem surged from $6.5 billion to $106.2 billion. That's a compound annual growth rate of 49%. Traditionally, Square's point-of-sale devices, loans, and analytic tools have been targeted at small businesses. But what's interesting is just how many medium-sized and large businesses have been using its seller ecosystem of late. Through the first two quarters of 2020, 52% of the GPV came from businesses with an annualized GPV of at least $125,000. Since the company's seller ecosystem is based on merchant fees, attracting bigger businesses can lead to significant sales revenue. Yet what's really exciting Wall Street and investors about Square is the company's peer-to-peer payment platform Cash App. User growth has been phenomenal, with MAUs increasing from 7 million at the end of 2017 to 30 million by June 2020. Approximately 7 million of these MAUs are also using Cash Card, a traditional debit card that links to a users' Cash App balance. Cash App represents the evolution of financial payments, and it gives Square so many ways to make money. Cash App generates merchant fees, transfers fees, and even revenue from investments and bitcoin exchange. Cash App gives Square genuine 10-bagger potential. Forget FAANG, folks, and say hello to TIPS.
Hello visitors and subscribers of scams! Here you will find a master list of common (and uncommon) scams that you may encounter online or in real life. Thank you to the many contributors who helped create this thread!
If you know of a scam that is not covered here, write a comment and it will be added to the next edition.
Caller ID spoofing It is very easy for anyone to make a phone call while having any number show up on the caller ID of the person receiving the phone call. Receiving a phone call from a certain number does not mean that the person/company who owns that number has actually called you. Email spoofing The "from" field of an email can be set by the sender, meaning that you can receive scam emails that look like they are from legitimate addresses. It's important to never click links in emails unless absolutely necessary, for example a password reset link you requested or an account activation link for an account you created. SMS spoofing SMS messages can be spoofed, so be wary of messages that seem to be from your friends or other trusted people.
The most common scams
The fake check scam (Credit to nimble2 for this part) The fake check scam arises from many different situations (for instance, you applied for a job, or you are selling something on a place like Craigslist, or someone wants to purchase goods or services from your business, or you were offered a job as a mystery shopper, you were asked to wrap your car with an advertisement, or you received a check in the mail for no reason), but the bottom line is always something like this:
The scammer sends you a very real looking, but fake, check. Sometimes they'll call it a "cashier's check", a "certified check", or a "verified check".
You deposit the check into your bank account, and within a couple of days your bank makes some or all of the funds available to you. This makes you think that the check is real and the funds have cleared. However, the money appearing in your account is not the same as the check actually clearing. The bank must make the funds available to you before they have cleared the check because that is the law.
For various and often complicated reasons, depending on the specific story line of the scam, the scammer will ask you to send someone some of the money, using services like MoneyGram, Western Union, and Walmart-2-Walmart. Sometimes the scammer will ask for you to purchase gift cards (iTunes, Amazon, Steam, etc) and give them the codes to redeem the gift cards. Some scammers may also give you instructions on how to buy and send them bitcoins.
Within a couple of weeks, though it can take as long as a month, your bank will realize that the check you deposited was fake, and your bank will remove the funds that you deposited into your account and charge you a bounced check fee. If you withdrew any of the money from the fake check, that money will be gone and you will owe that money to the bank. Some posters have even had their bank accounts closed and have been blocked from having another account for 5 years using ChexSystems.
General fraudulent funds scams If somebody is asking you to accept and send out money as a favour or as part of a job, it is a fraudulent funds scam. It does not matter how they pay you, any payment on any service can be fraudulent and will be reversed when it is discovered to be fraudulent. Phone verification code scams Someone will ask you to receive a verification text and then tell you to give them the code. Usually the code will come from Google Voice, or from Craigslist. In the Google version of the scam, your phone number will be used to verify a Google Voice account that the scammer will use to scam people with. In the Craigslist version of the scam, your phone number will be used to verify a Craigslist posting that the scammer will use to scam people. There is also an account takeover version of this scam that will involve the scammer sending a password reset token to your phone number and asking you for it. Bitcoin job scams Bitcoin job scams involve some sort of fraudulent funds transfer, usually a fake check although a fraudulent bank transfer can be used as well. The scammer will send you the fraudulent money and ask you to purchase bitcoins. This is a scam, and you will have zero recourse after you send the scammer bitcoins. Email flooding If you suddenly receive hundreds or thousands of spam emails, usually subscription confirmations, it's very likely that one of your online accounts has been taken over and is being used fraudulently. You should check any of your accounts that has a credit card linked to it, preferably from a computer other than the one you normally use. You should change all of your passwords to unique passwords and you should start using two factor authentication everywhere. Cartel scam You will be threatened by scammers who claim to be affiliated with a cartel. They may send you gory pictures and threaten your life and the lives of your family. Usually the victim will have attempted to contact an escort prior to the scam, but sometimes the scammers target people randomly. If you are targeted by a cartel scam all you need to do is ignore the scammers as their threats are clearly empty. Boss/CEO scam A scammer will impersonate your boss or someone who works at your company and will ask you to run an errand for them, which will usually be purchasing gift cards and sending them the code. Once the scammer has the code, you have no recourse. Employment certification scams You will receive a job offer that is dependent on you completing a course or receiving a certification from a company the scammer tells you about. The scammer operates both websites and the job does not exist. Craigslist fake payment scams Scammers will ask you about your item that you have listed for sale on a site like Craigslist, and will ask to pay you via Paypal. They are scamming you, and the payment in most cases does not actually exist, the email you received was sent by the scammers. In cases where you have received a payment, the scammer can dispute the payment or the payment may be entirely fraudulent. The scammer will then either try to get you to send money to them using the fake funds that they did not send to you, or will ask you to ship the item, usually to a re-shipping facility or a parcel mule. Craigslist Carfax/vehicle history scam You'll encounter a scammer on Craigslist who wants to buy the vehicle you have listed, but they will ask for a VIN report from a random site that they have created and they will expect you to pay for it. Double dip/recovery scammers This is a scam aimed at people who have already fallen for a scam previously. Scammers will reach out to the victim and claim to be able to help the victim recover funds they lost in the scam. General fraudulent funds scams The fake check scam is not the only scam that involves accepting fraudulent/fake funds and purchasing items for scammers. If your job or opportunity involves accepting money and then using that money, it is almost certainly a frauduent funds scam. Even if the payment is through a bank transfer, Paypal, Venmo, Zelle, Interac e-Transfer, etc, it does not matter. Credit card debt scam Fraudsters will offer to pay off your bills, and will do so with fraudulent funds. Sometimes it will be your credit card bill, but it can be any bill that can be paid online. Once they pay it off, they will ask you to send them money or purchase items for them. The fraudulent transaction will be reversed in the future and you will never be able to keep the money. This scam happens on sites like Craigslist, Twitter, Instagram, and also some dating sites, including SeekingArrangement. The parcel mule scam A scammer will contact you with a job opportunity that involves accepting and reshipping packages. The packages are either stolen or fraudulently obtained items, and you will not be paid by the scammer. Here is a news article about a scam victim who fell for this scam and reshipped over 20 packages containing fraudulently acquired goods. The Skype sex scam You're on Facebook and you get a friend request from a cute girl you've never met. She wants to start sexting and trading nudes. She'll ask you to send pictures or videos or get on webcam where she can see you naked with your face in the picture. The scam: There's no girl. You've sent nudes to a guy pretending to be a girl. As soon as he has the pictures he'll demand money and threaten to send the pictures to your friends and family. Sometimes the scammer will upload the video to a porn site or Youtube to show that they are serious. What to do if you are a victim of this scam: You cannot buy silence, you can only rent it. Paying the blackmailer will show them that the information they have is valuable and they will come after you for more money. Let your friends and family know that you were scammed and tell them to ignore friend requests or messages from people they don't know. Also, make sure your privacy settings are locked down and consider deactivating your account. The underage girl scam You're on a dating site or app and you get contacted by a cute girl. She wants to start sexting and trading nudes. Eventually she stops communicating and you get a call from a pissed off guy claiming to be the girl's father, or a police officer, or a private investigator, or something else along those lines. Turns out the girl you were sexting is underage, and her parents want some money for various reasons, such as to pay for a new phone, to pay for therapy, etc. There is, of course, no girl. You were communicating with a scammer. What to do if you are a victim of this scam: Stop picking up the phone when the scammers call. Do not pay them, or they will be after you for more money. Phishing Phishing is when a scammer tries to trick you into giving information to them, such as your password or private financial information. Phishing messages will usually look very similar to official messages, and sometimes they are identical. If you are ever required to login to a different account in order to use a service, you should be incredibly cautious. The blackmail email scam part 5: https://old.reddit.com/Scams/comments/g8jqnthe_blackmail_email_scam_part_5/ PSA: you did not win a giftcard: https://old.reddit.com/Scams/comments/fffmle/psa_you_did_not_win_a_gift_card/ Sugar scams Sugar scammers operate all over the internet and usually come in two varieties: advance-fee scams where the scammer will ask for a payment from you before sending you lots of money, and fake check style scams where the scammer will either pull a classic fake check scam, or will do a "bill pay" style scam that involves them paying your bills, or them giving you banking information to pay your bills. If you encounter these scammers, report their accounts and move on. Google Hangouts Google Hangouts is a messaging platform used extensively by all kinds of scammers. If you are talking with someone online and they want you to switch to Hangouts, they are likely a scammer and you should proceed with caution. Publishers Clearing House scams PCH scams are often advance-fee scams, where you will be promised lots of money after you make an initial payment. You will never need to pay if you win money from the real PCH. Pet scams You are looking for a specific breed of puppy, bird, or other pet. You come across a nice-looking website that claims to be breeding them and has some available right now - they may even be on sale! The breeders are not local to your area (and may not even list a physical location) but they assure you they can safely ship the pet to you after a deposit or full payment. If you go through with the payment, you will likely be contacted by the "shipper" who will inform you about an unexpected shipping/customs/processing fee required to deliver your new pet. But there was never any pet, both the "breeder" and the "shipper" are scammers, typically operating out of Africa. These sites are rampant and account for a large percentage of online pet seller websites - they typically have a similar layout/template (screenshot - example) If you are considering buying a pet online, some easy things to check are: (1) The registration date of the domain (if it was created recently it is likely a scam website) (2) Reverse image search the pictures of available pets - you will usually find other scam websites using the same photos. (3) Copy a sentence/section of the text from the "about us" page and put it into google (in quotes) - these scammers often copy large parts of their website's text from other places. (4) Search for the domain name and look for entries on petscams.com or other scam-tracking sites. (5) Strongly consider buying/adopting your pet from a local shelter or breeder where you can see the animal in person before putting any money down. Thanks to djscsi for this entry. Fake shipping company scams These scams usually start when you try to buy something illegal online. You will be scammed for the initial payment, and then you will receive an email from the fake shipping company telling you that you need to pay them some sort of fee or bribe. If you pay this, they will keep trying to scam you with increasingly absurd stories until you stop paying, at which point they will blackmail you. If you are involved in this scam, all you can do is ignore the scammers and move on, and try to dispute your payments if possible. Chinese Upwork scam Someone will ask you to create an Upwork or other freelancer site account for them and will offer money in return. You will not be paid, and they want to use the accounts to scam people. Quickbooks invoice scam This is a fake check style scam that takes advantage of Quickbooks. The blackmail email scam The exact wording of the emails varies, but there are generally four main parts. They claim to have placed software/malware on a porn/adult video site, they claim to have a video of you masturbating or watching porn, they threaten to release the video to your friends/family/loved ones/boss/dog, and they demand that you pay them in order for them to delete the video. Rest assured that this is a very common spam campaign and there is no truth behind the email or the threats. Here are some news articles about this scam. The blackmail mail scam This is very similar to the blackmail email scam, but you will receive a letter in the mail. Rental scams Usually on local sites like Craigslist, scammers will steal photos from legitimate real estate listings and will list them for rent at or below market rate. They will generally be hesitant to tell you the address of the property for "safety reasons" and you will not be able to see the unit. They will then ask you to pay them a deposit and they claim they will ship you the keys. In reality, your money is gone and you will have no recourse. Craigslist vehicle scams A scammer will list a vehicle on Craigslist and will offer to ship you the car. In many cases they will also falsely claim to sell you the car through eBay or Amazon. If you are looking for a car on Craigslist and the seller says anything about shipping the car, having an agent, gives you a long story about why they are selling the car, or the listing price is far too low, you are talking to a scammer and you should ignore and move on. Advance-fee scam, also known as the 419 scam, or the Nigerian prince scam. You will receive a communication from someone who claims that you are entitled to a large sum of money, or you can help them obtain a large sum of money. However, they will need money from you before you receive the large sum. Man in the middle scams Man in the middle scams are very common and very hard to detect. The scammer will impersonate a company or person you are legitimately doing business with, and they will ask you to send the money to one of their own bank accounts or one controlled by a money mule. They have gained access to the legitimate persons email address, so there will be nothing suspicious about the email. To prevent this, make contact in a different way that lets you verify that the person you are talking to is the person you think you are talking to. Digit wallet scam A variation of the fake check scam, the scammer sends you money through a digital wallet (i.e. Venmo, Apple Pay, Zelle, Cash App) along with a message claiming they've sent the money to the wrong person and a request to send the money back. Customer service for these digital wallets may even suggest that you send the money back. However, the money sent is from a stolen credit card and will be removed from your account after a few days. Your transfer is not reversed since it came from your own funds. Cam girl voting/viewer scam You will encounter a "cam girl" on a dating/messaging/social media/whatever site/app, and the scammer will ask you to go to their site and sign up with your credit card. They may offer a free show, or ask you to vote for them, or any number of other fake stories. Amateur porn recruitment scam You will encounter a "pornstar" on a dating/messaging/social media/whatever site/app, and the scammer will ask you to create an adult film with hehim, but first you need to do something. The story here is usually something to do with verifying your age, or you needing to take an STD test that involves sending money to a site operated by the scammer. Hot girl SMS spam You receive a text from a random number with a message along the lines of "Hey babe I'm here in town again if you wanted to meet up this time, are you around?" accompanied by a NSFW picture of a hot girl. It's spam, and they'll direct you to their scam website that requires a credit card. Identity verification scam You will encounter someone on a dating/messaging/social media/whatever site/app, and the scammer will ask that you verify your identity as they are worried about catfishing. The scammer operates the site, and you are not talking to whoever you think you are talking to. This type of scam teases you with something, then tries to make you sign up for something else that costs money. The company involved is often innocent, but they turn a blind eye to the practice as it helps their bottom line, even if they have to occasionally issue refunds. A common variation takes place on dating sites/dating apps, where you will match with someone who claims to be a camgirl who wants you to sign up for a site and vote for her. Another variation takes place on local sites like Craigslist, where the scammers setup fake rental scams and demand that you go through a specific service for a credit check. Once you go through with it, the scammer will stop talking to you. Another variation also takes place on local sites like Craigslist, where scammers will contact you while you are selling a car and will ask you to purchase a Carfax-like report from a specific website. Multi Level Marketing or Affiliate Marketing You apply for a vague job listing for 'sales' on craigslist. Or maybe an old friend from high school adds you on Facebook and says they have an amazing business opportunity for you. Or maybe the well dressed guy who's always interviewing people in the Starbucks that you work at asks if you really want to be slinging coffee the rest of your life. The scam: MLMs are little more than pyramid schemes. They involve buying some sort of product (usually snake oil health products like body wraps or supplements) and shilling them to your friends and family. They claim that the really money is recruiting people underneath you who give you a slice of whatever they sell. And if those people underneath you recruit more people, you get a piece of their sales. Ideally if you big enough pyramid underneath you the money will roll in without any work on your part. Failure to see any profit will be your fault for not "wanting it enough." The companies will claim that you need to buy their extra training modules or webinars to really start selling. But in reality, the vast majority of people who buy into a MLM won't see a cent. At the end of the day all you'll be doing is annoying your friends and family with your constant recruitment efforts. What to look out for: Recruiters love to be vague. They won't tell you the name of the company or what exactly the job will entail. They'll pump you up with promises of "self-generating income", "being your own boss", and "owning your own company." They might ask you to read books about success and entrepreneurs. They're hoping you buy into the dream first. If you get approached via social media, check their timelines. MLMs will often instruct their victims to pretend that they've already made it. They'll constantly post about how they're hustling and making the big bucks and linking to youtube videos about success. Again, all very vague about what their job actually entails. If you think you're being recruited: Ask them what exactly the job is. If they can't answer its probably a MLM. Just walk away.
You should generally avoid answering or engaging with random phone calls. Picking up and engaging with a scam call tells the scammers that your phone number is active, and will usually lead to more calls. Tax Call You get a call from somebody claiming to be from your countries tax agency. They say you have unpaid taxes that need to be paid immediately, and you may be arrested or have other legal action taken against you if it is not paid. This scam has caused the American IRS, Canadian CRA, British HMRC, and Australian Tax Office to issue warnings. This scam happens in a wide variety of countries all over the world. Warrant Call Very similar to the tax call. You'll get a phone call from an "agent", "officer", "sheriff", or other law enforcement officer claiming that there is a warrant out for your arrest and you will be arrested very soon. They will then offer to settle everything for a fee, usually paid in giftcards. [Legal Documents/Process Server Calls] Very similar to the warrant call. You'll get a phone call from a scammer claiming that they are going to serve you legal documents, and they will threaten you with legal consequences if you refuse to comply. They may call themselves "investigators", and will sometimes give you a fake case number. Student Loan Forgiveness Scam Scammers will call you and tell you about a student loan forgiveness program, but they are interested in obtaining private information about you or demanding money in order to join the fake program. Tech Support Call You receive a call from someone with a heavy accent claiming to be a technician Microsoft or your ISP. They inform you that your PC has a virus and your online banking and other accounts may be compromised if the virus is not removed. They'll have you type in commands and view diagnostics on your PC which shows proof of the virus. Then they'll have you install remote support software so the technician can work on your PC, remove the virus, and install security software. The cost of the labor and software can be hundreds of dollars. The scam: There's no virus. The technician isn't a technician and does not work for Microsoft or your ISP. Scammers (primarily out of India) use autodialers to cold-call everyone in the US. Any file they point out to you or command they have you run is completely benign. The software they sell you is either freeware or ineffective. What to do you if you're involved with this scam: If the scammers are remotely on your computer as you read this, turn off your PC or laptop via the power button immediately, and then if possible unplug your internet connection. Some of the more vindictive tech scammers have been known to create boot passwords on your computer if they think you've become wise to them and aren't going to pay up. Hang up on the scammers, block the number, and ignore any threats about payment. Performing a system restore on your PC is usually all that is required to remove the scammer's common remote access software. Reports of identity theft from fake tech calls are uncommon, but it would still be a good idea to change your passwords for online banking and monitor your accounts for any possible fraud. How to avoid: Ignore any calls claiming that your PC has a virus. Microsoft will never contact you. If you're unsure if a call claiming to be from your ISP is legit, hang up, and then dial the customer support number listed on a recent bill. If you have elderly relatives or family that isn't tech savvy, take the time to fill them in on this scam. Chinese government scam This scam is aimed at Chinese people living in Europe and North America, and involves a voicemail from someone claiming to be associated with the Chinese government, usually through the Chinese consulate/embassy, who is threatening legal action or making general threats. Chinese shipping scam This scam is similar to the Chinese government scam, but involves a seized/suspicious package, and the scammers will connect the victim to other scammers posing as Chinese government investigators. Social security suspension scam You will receive a call from someone claiming to work for the government regarding suspicious activity, fraud, or serious crimes connected to your social security number. You'll be asked to speak to an operator and the operator will explain the steps you need to follow in order to fix the problems. It's all a scam, and will lead to you losing money and could lead to identity theft if you give them private financial information. Utilities cutoff You get a call from someone who claims that they are from your utility company, and they claim that your utilities will be shut off unless you immediately pay. The scammer will usually ask for payment via gift cards, although they may ask for payment in other ways, such as Western Union or bitcoin. Relative in custody Scammer claims to be the police, and they have your son/daughtenephew/estranged twin in custody. You need to post bail (for some reason in iTunes gift cards or MoneyGram) immediately or the consequences will never be the same. Mexican family scam This scam comes in many different flavours, but always involves someone in your family and Mexico. Sometimes the scammer will claim that your family member has been detained, sometimes the scammer will claim that your family member has been kidnapped, and sometimes the scammer will claim that your family member is injured and needs help. General family scams Scammers will gather a large amount of information about you and target your family members using different stories with the goal of gettimg them to send money. One ring scam Scammers will call you from an international number with the goal of getting you to return their call, causing you to incur expensive calling fees.
Online shopping scams
THE GOLDEN RULE OF ONLINE SHOPPING: If it sounds too good to be true, it probably is. Dropshipping An ad on reddit or social media sites like Facebook and Instagram offers items at huge discounts or even free (sometimes requiring you to reblog or like their page). They just ask you to pay shipping. The scam: The item will turn out to be very low quality and will take weeks or even months to arrive. Sometimes the item never arrives, and the store disappears or stops responding. The seller drop-ships the item from China. The item may only cost a few dollars, and the Chinese government actually pays for the shipping. You end up paying $10-$15 dollars for a $4 item, with the scammer keeping the profit. If you find one of these scams but really have your heart set on the item, you can find it on AliExpress or another Chinese retailer. Influencer scams A user will reach out to you on a social media platform, usually Instagram, and offer you the chance to partner with them and receive a free/discounted product, as long as you pay shipping. This is a different version of the dropshipping scam, and is just a marketing technique to get you to buy their products. Triangulation fraud Triangulation fraud occurs when you make a purchase on a site like Amazon or eBay for an item at a lower than market price, and receive an item that was clearly purchased new at full price. The scammer uses a stolen credit card to order your item, while the money from the listing is almost all profit for the scammer. Instagram influencer scams Someone will message you on Instagram asking you to promote their products, and offering you a discount code. The items are Chinese junk, and the offer is made to many people at a time. Cheap Items Many websites pop up and offer expensive products, including electronics, clothes, watches, sunglasses, and shoes at very low prices. The scam: Some sites are selling cheap knock-offs. Some will just take your money and run. What to do if you think you're involved with this scam: Contact your bank or credit card and dispute the charge. How to avoid: The sites often have every brand-name shoe or fashion item (Air Jordan, Yeezy, Gucci, etc) in stock and often at a discounted price. The site will claim to be an outlet for a major brand or even a specific line or item. The site will have images at the bottom claiming to be Secured by Norton or various official payment processors but not actual links. The site will have poor grammar and a mish-mash of categories. Recently, established websites will get hacked or their domain name jacked and turned into scam stores, meaning the domain name of the store will be completely unrelated to the items they're selling. If the deal sounds too good to be true it probably is. Nobody is offering brand new iPhones or Beats or Nintendo Switches for 75% off. Cheap Amazon 3rd Party Items You're on Amazon or maybe just Googling for an item and you see it for an unbelievable price from a third-party seller. You know Amazon has your back so you order it. The scam: One of three things usually happen: 1) The seller marks the items as shipped and sends a fake tracking number. Amazon releases the funds to the seller, and the seller disappears. Amazon ultimately refunds your money. 2) The seller immediately cancels the order and instructs you to re-order the item directly from their website, usually with the guarantee that the order is still protected by Amazon. The seller takes your money and runs. Amazon informs you that they do not offer protection on items sold outside of Amazon and cannot help you. 2) The seller immediately cancels the order and instructs you to instead send payment via an unused Amazon gift card by sending the code on the back via email. Once the seller uses the code, the money on the card is gone and cannot be refunded. How to avoid: These scammers can be identified by looking at their Amazon storefronts. They'll be brand new sellers offering a wide range of items at unbelievable prices. Usually their Amazon names will be gibberish, or a variation on FIRSTNAME.LASTNAME. Occasionally however, established storefronts will be hacked. If the deal is too good to be true its most likely a scam. Scams on eBay There are scams on eBay targeting both buyers and sellers. As a seller, you should look out for people who privately message you regarding the order, especially if they ask you to ship to a different address or ask to negotiate via text/email/a messaging service. As a buyer you should look out for new accounts selling in-demand items, established accounts selling in-demand items that they have no previous connection to (you can check their feedback history for a general idea of what they bought/sold in the past), and lookout for people who ask you to go off eBay and use another service to complete the transaction. In many cases you will receive a fake tracking number and your money will be help up for up to a month. Scams on Amazon There are scams on Amazon targeting both buyers and sellers. As a seller, you should look out for people who message you about a listing. As a buyer you should look out for listings that have an email address for you to contact the person to complete the transaction, and you should look out for cheap listings of in-demand items. Scams on Reddit Reddit accounts are frequently purchased and sold by fraudsters who wish to use the high karma count + the age of the account to scam people on buy/sell subreddits. You need to take precautions and be safe whenever you are making a transaction online. Computer scams Virus scam A popup or other ad will say that you have a virus and you need to follow their advice in order to remove it. They are lying, and either want you to install malware or pay for their software.
Chinese Brushing / direct shipping If you have ever received an unsolicited small package from China, your address was used to brush. Vendors place fake orders for their own products and send out the orders so that they can increase their ratings. Money flipping Scammer claims to be a banking insider who can double/triple/bazoople any amount of money you send them, with no consequences of any kind. Obviously, the money disappears into their wallet the moment you send it.
How the US Elections Have and Will Impact the Price of Bitcoin
What Happened to the Price of Bitcoin in 2012 and 2016?
Presidential elections in the United States happen every four years — and it's interesting to note that they follow the same cycle as Bitcoin halving events. Let's begin by taking a look at how Bitcoin fared in the past two U.S. elections. Back in 2012, when the crypto assets space was immature and in a very nascent phase, BTC was fairly muted when Barack Obama secured a second term, and stubbornly hovered around the $10.90 mark. Fast forward to November 2013, one year on from his re-election, and Bitcoin had surged by 2,221% to hit $253. However, it would be foolish to suggest that Obama had anything to do with this. President Donald Trump's arrival in 2016 was much more interesting. When the result was first confirmed, Bitcoin shot up by 3.8% — from $709 to $736. Back then, the short-term surge was linked to the fact that Trump's victory took the stock market by surprise — and created uncertainty and volatility internationally. This resulted in demand for safe haven assets, and Bitcoin is regarded as one of them. Shortly before the result was announced, crypto hedge fund manager Jacob Eliosoff had told Coindesk: "[If Trump wins] it would be an epic disaster in a bunch of respects — economic, geopolitical, democratic — and in the fear and chaos Bitcoin would be a defensive asset people could turn to."
How Will the U.S. Election in 2020 Affect Bitcoin?
The million-dollar (ahem, the 100 BTC) question is how digital currencies will react to the result this time. This presidential election is unusual for the markets because of how the coronavirus pandemic is dominating the news cycle. COVID could also end up affecting the speed of the result because of the volume of mail-in ballots. It's highly possible that Bitcoin could remain fairly muted throughout the election if the result is clear. But here's a disclaimer: the outcome is shaping to be anything but. Normally, the result is called by U.S. news networks in the early hours of the morning that follows the vote. But some experts are warning that ballots could take days or weeks to process this time around. All of this would create uncertainty for the U.S. dollar and the stock market, and this could contribute to a surge in demand for the likes of Bitcoin and Ethereum. Donald Trump has also suggested that he may challenge the result of the upcoming U.S. election if he believes it is rigged. This would also spook the stock market, and again would work in the favor of cryptocurrencies and precious metals. As you can see, the overarching theme here is certainty. Digital assets are unlikely to move much if there's a clear result and a peaceful transition of power — but expect turbulence if things start to get messy in Washington. It is important to stress that not everyone agrees with this idea. Recent Bitcoin news has cast doubt on whether the cryptocurrency is the safe haven asset that everyone says it is — and some analysts argue that BTC is more closely correlated to the stock market than we think. In this scenario, we could see Bitcoin move in step with equities as they digest the news. Although Wall Street thinks a Trump win is unlikely, a second term for the Republicans is regarded as the preferable option in financial terms because of how Trump favors tax cuts. Irrespective of who wins, there's going to be no shortage of crypto news...and there are so many questions to answer. Will the Fed finally start looking into CBDCs in a meaningful way? Will a stimulus package be approved? Are interest rates going to go negative? Will the USD weaken? Will Bitcoin return to its all-time high of $20,000 and embark on a new bull run? The rollercoaster ride for cryptocurrencies is far from over. https://coinmarketcap.com/alexandria/article/how-us-election-could-influence-bitcoin-prices
Bitcoin USD price, real-time (live) charts, bitcoin news and videos. Learn about BTC value, bitcoin cryptocurrency, crypto trading, and more. A Bitcoin wallet can be a lot safer than a bank account. Cypriots learnt this the hard way when their savings were confiscated in early 2013. This event was reported as causing a price surge, as savers rethought the relative risks of banks versus Bitcoin.. The next domino to fall was Greece, where strict capital controls were imposed in 2015. Bitcoin history for 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019. Bitcoin price chart since 2009 to 2019. The historical data and rates of BTC ... Editor’s Note: Check out Kitco’s full 2014 coverage. (Kitco News) - It has been a wild year for bitcoin and although the currency has been around for the last five years, 2013 is when most ... Price of Bitcoin monthly in euros 2016-2020; Level of interest in use of Bitcoin for internet purchases in the U.S. 2013; Leading benefits of using Bitcoin as a means of payment in the U.S. 2013
Bitcoin Price $75K ‘Within Weeks’? Recovery Mimics 2013 700% Bull Run BTC Will Shatter $520K
Donate: 1piwo7t59rr4SR78CWpYJpt5WM6iCy11Y Bitcoin ChinaEvent Timelapse 05.12.2013 - Bitstamp Price from bitcoinity.org Original files available on request. Video shows the Bitcoin Price Journey from 2013-2018. Video shows Bitcoin price journey on 1Day chart. Pleasant to watch. Subscribe my channel for knowledge and fun in crypto. Nonetheless, comparing today’s Bitcoin market with that of 2013 is all but impossible. At the time, Mt. Gox was the only major exchange, itself imploding to cause a massive price crash. Many ... http://bitcoinprice.tech/is-the-bitcoin-price-drop-over/ Bitcoin Price Drop Bitcoin reached its all time high in November of 2013, briefly nearing $1,200 USD... Close. This video is unavailable.