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      "author": "steemitboard",
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      "title": "",
      "body": "Congratulations @netcashfx! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@netcashfx/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@netcashfx) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=netcashfx)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "body": "Congratulations @netcashfx! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@netcashfx/birthday1.png</td><td>1 Year on Steemit</td></tr></table>\n\n<sub>_[Click here to view your Board](https://steemitboard.com/@netcashfx)_</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n<table><tr><td><a href=\"https://steemit.com/steem/@steemitboard/steemwhales-has-officially-moved-to-steemitboard-ranking\"><img src=\"https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmfRVpHQhLDhnjDtqck8GPv9NPvNKPfMsDaAFDE1D9Er2Z/header_ranking.png\"></a></td><td><a href=\"https://steemit.com/steem/@steemitboard/steemwhales-has-officially-moved-to-steemitboard-ranking\">SteemWhales has officially moved to SteemitBoard Ranking</a></td></tr><tr><td><a href=\"https://steemit.com/steemitboard/@steemitboard/steemitboard-witness-update-2019-01-07\"><img src=\"https://steemitimages.com/64x128/http://i.cubeupload.com/7CiQEO.png\"></a></td><td><a href=\"https://steemit.com/steemitboard/@steemitboard/steemitboard-witness-update-2019-01-07\">SteemitBoard - Witness Update</a></td></tr></table>\n\n> Support [SteemitBoard's project](https://steemit.com/@steemitboard)! **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
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      "author": "netcashfx",
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      "title": "Easy way to support BTC price",
      "body": "Imagine if providers such as coinbase and revolut provide a monthly auto save feature with public figures. That means we will know how much fresh money will be invested each month in BTC. Having this public figure steadily growing will have an enormous confidence impact.  Imagine if we reach monthly 100 millions people publicly saving 100$ a month in BTC. That is 10Bn$ monthly of fresh money. Enough to support a much higher valuation. Don't you agree ?",
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      "parent_permlink": "bitcoin",
      "author": "netcashfx",
      "permlink": "bitcoin",
      "title": "Bitcoin",
      "body": "Why should you care about bitcoin ?\nThat hasn’t happened yet and that seems increasingly less likely but there is still a chance that bitcoin fails. There is also a decent chance that it succeeds and become the most extraordinary investment opportunity you’ll ever witness. A global democratic emergence always underestimated and yet so obvious a posteriori.\n\nIt’s not just about bitcoin and money it is about technology reshaping the world. Whether you like it or not when censorship resistant networks become easy to build and power can no longer be secured by the same people.\n\nBitcoin’s debate draws the line between those who fear and those who welcome freedom.\n\nHow does the blockchain work ?\nAsymmetric cryptography is already everywhere and allows to encrypt, sign and authenticate. If you want to make a currency out of this in a decentralized ledger you’ll need a third-party to verify that you’re not trying to spend money you don’t have. This requires to timestamp all transactions to prevent double spending.\n\nThe revolutionary part of the blockchain is a clever way to overcome the need to have this trusted intermediary by creating a framework where actors have an economic incentive to participate in the proper functioning of the system. It’s called proof-of-work and it is the competition between miners to be first to solve a mathematical problem to earn a reward for adding a block of transactions to the blockchain. That reward is called bitcoin and it is what is exchanged in these transactions.\n\nIf it had no value it wouldn’t be mined and if it’s mined it is because it has value. Since it has value you can use it as a currency.\n\nWhy would it replace gold ?\nGold was king in ancient times and if it is still backed by history it has become a poor mean of exchange and store of value. Physical gold is impractical to use because it is physical and paper gold is not a market you can easily trust. Why would you bother to use a digital currency with the pain of having it properly backed by real gold when you can simply use a secure digital currency backed by abstract gold.\n\nSome people are upset because currently the mining profitability has led to considerable energy consumption but it is worth noting that to maximize profits this energy often comes from places where it is cheap because unused. And it is apparently less than gold extraction which is much more damaging for the environment. Irony is that we already have very large quantities of gold sitting in safe underground storage costly to maintain.\n\nWhat about price and volatility ?\nBitcoin can be worth exactly zero if it stops being exchanged and its value could be also several millions dollars if there is a widespread consensus that it is modern gold. It can also be anything in between and as people are speculating with very different opinion on what it will be tomorrow price can only stay very unstable until it becomes clear if it’s a failure or a massive adoption.\n\nUntil now there has been a structural trend of adoption which for something available in limited quantity makes the price rise exponentially. Adoption is natural because it enables more freedom and this is something that cannot be stopped. Open source software and P2P downloading have been fought but they will never be suppressed.\n\nBitcoin is not perfect and adoption might reverse but in that case it will most likely shift toward competitors.\n\nWhat about altcoins ?\nThe typical journey is : you try bitcoin and make easily money, you cash out to verify that is possible and you are impressed by the total control you have on your money, you come back bigger because it feels sustainable and safer once you’ve done this before, you become impatient and try too boost your gains with alt coins, you win some money on stuff you don’t believe in and become to greedy, you lose some money on poor projects and become more selective, you understand that everything revolves around bitcoin and maintain a bitcoin portfolio with some smart diversification and you are confident that it’s not insane to allocate a part of your savings to cryptocurrencies.\n\nBitcoin is the digital gold. Some altcoins are decent alternatives or a relevant support for real use cases but most are like contemporary art and Madoff style investment.\n\nIs it a ponzi or a bubble ?\nIt’s not a fraud. It’s open source and transparent. It doesn’t promises or guarantees you anything. It’s not owned or controlled by anybody. It is the first proposition and implementation of digital gold. It’s there and nobody is pushing you to use it. It’s not even greater fool investing because there is a growing number of people and companies working on improving it and on building a sustainable ecosystem around it.\n\nIt’s unfair and creates more inequalities and that is why many will want to “protect” you from bitcoin and cryptocurrencies. Particularly when they have poor knowledge of what it is really.\n\nIf you are convinced it is a bubbly because you feel the FOMO with people with no clue willing to invest you’re partially right. Too much excitement without the underlying adoption will create the conditions to have a good drop but don’t be wrong on the longer term trend behind that.\n\nWhy is it exceptionally cheap right now ?\nBack in june 2017 when the price was around $5,000 the user base was a few dozens millions people and now the price is only about $10,000 with a user base of a few hundreds millions.\n\nWith the January 50% off current market cap is about $bn130 taking into account lost coins. It’s still afforable for a government or a big company to buy a significant stake of the available supply which means that in a very short period of time the price could be multiplied by a factor x.\n\n2017 was a challenging year for bitcoin with a lack of consensus around the forks and issues with scalability and transaction fees. This is on the way to be solved and a lof of money could soon come back.\n\nMany projects involving cryptocurrencies have been started by banks and fintech in 2017 and this is going to strongly support the growth of adoption in 2018.\n\nTo monitor the trend I would advise to follow daily volumes, how are doing exchanges, web traffic statistics, google trends, social activity, opening/closing of services offering access to cryptocurrencies. If the trend reverses it will be obvious and it won’t be worth fighting the crowd but everything let us think the opposite is much more likely.\n\nCan bitcoin goes in hyper deflationary mode ?\nBitcoin adoption is a self fulfilling prophecy. If the crowd believes in it it starts to happen. And as the price rise is parabolic your potential gains are much higher than your potential losses which encourage everyone to put as much as they can. On the long term you start to develop a feeling that everything is losing value when you think with bitcoin as a standard. If you buy an art piece for 1 BTC today it’s likely to be worth a fraction of that at some point in the future. All unnecessary spending performed today might look very expensive tomorrow. There is a possibility that if for some reason there is a real concern on major fiat currencies that we will witness the fear spread quickly and have an extreme price rise on bitcoin. If that happens you’d better have some.",
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      "permlink": "ico-crowdcryptoexchange",
      "title": "ICO CrowdCryptoExchange",
      "body": "https://www.crowdcryptoexchange.com/\n\nCryptoCrowdExchange Introduction\nBackground\n\nICOs have the great benefit of allowing direct crowdfunding from end users to developers. We are seeing the worse with the greediest trying to capture free money and the best with transparent open-source projects focused on end-users. This is where we want to go. We want to offer a top class trading exchange with low fees redistributed to the CEX community.\n\nMost crypto exchanges were built at a time when it was barely conceivable to reach the volumes we are seing today or were built in a rush to secure a piece of the cake. Binance and Kucoin had a tremendous growth and have in a few months disrupted the exchange market without much innovation. It’s a preview of what we can achieve.\n\nOur specificity\n\nWe want to fully align the interest of the founders team and the community by sharing 100% of the trading fees through a token that will be held at 20% by the team. With soft cap of 5mn$ we aim to secure the running of our operations for a year and at the end of which a daily volume of 50mn$ would be sufficient to bring 4mn$ revenue to the exchange and about 15mn$ of profits redistributed to others token holders.\n\nTo compare Binance has reached a 1$bn daily volume in a few months and Kucoin has reached a range of 100–300$mn in 4 months. Both exchanges are extremely profitable and have a coin trading at a market cap above 1$bn. Here is why we think we can gain rapidly market shares:\n\nLow fee : 0.05% commission son buy & sell\nGreat UI compatible with basic and advanced usage\nFantastic token giving access to daily payouts proportional to the volume traded of every asset on the platform.\nOur goal\n\nWe want to get ready for a world were having a bank account won’t be an absolute necessity. Money has already been digitalized but in an inefficient manner. Bitcoin is obviously just the beginning. Here are some ideas to make our platform stand out :\n\nTax efficient structure. The bundling of your trading activity in one custom bond product will give you an average cost and exit price making irrelevant to consider every trade a taxable event.\nHard-wallet security. The nicest feeling with crypto is to have full control of your money. With new innovations such as the lightning network it will become increasingly fast and cheap to transfer cryptos and ideally an exchange should interface directly with your hardware based secure wallet.\nEasy UI. Crypto trading is becoming mainstream and has to be more intuitive and accessible by providing assistance and clarity when placing orders. Poor knowledge has to be offset to prevent people from wasting money because of nonstrategic orders. Small transparent algorithms should be easily accessible to optimize orders.\nTransitioning toward open-source and be open to enhancements from the community.\nWorking on the decentralization of exchange by providing a framework to allow wallets to agree on a price on the exchange and realizing the transaction outside of the platform.\nThe Sale\n\nThe team has not been made public yet and we are not yet accepting any money but welcome questions and ideas. We have opened preregistration and pledge for a private sale happening when the team is announced to get enough funds to make a successful ICO. Exact conditions are yet to be determined depending on the interest we see. Soft cap will be around 5$mn and hard cap is likely to be in the 10-20$mn range.",
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      "permlink": "why-it-is-rational-to-be-long-crypto-for-2018-let-s-take-the-following-three-scenarios",
      "title": "Why it is rational to be long crypto for 2018. Let’s take the following three scenarios",
      "body": "Why it is rational to be long crypto for 2018. Let’s take the following three scenarios: \n\nCrash with -70% (Crypto was just a bubble)\nStagnating -20 ; + 20 % \nSimilar or better growth than 2017 x30\n\nIf you have no idea on probabilities of each case let’s assume it’s ⅓ each. That makes an expected return of x10. Everyone in crypto knows there is a strong bias toward crypto adoption. It is a self fulfilling prophecy. If a growing number of people recognize crypto as a new store of wealth it will become a store of wealth.\n\nIn case of something goes wrong you can track data such as exchange volumes or web traffic (for example https://www.alexa.com/siteinfo/coinmarketcap.com) to make sure the trend is still strong. Currently coinmarketcap.com is #44 in US and #145 in the world with a daily time on site of more than 9 minutes which is more than google, youtube, twitter, wikipedia, nytimes …\n\nOn top of that you have free advertising everywhere\n\nIf you reassess the probabilities of the scenarios you could see, you can note that worst case is monitorable and that best case is more likely because it is a self fulfilling prophecy.\nPrices are strongly correlated to adoption. A -50% with growing traffic figures is a compelling entry point while an increase in prices with decreasing volume is a bad sign.\n\nOf course there are risks, you can have your money stolen on an exchange, a coin affected by a hack, but if you learn how to mitigate your risk by good practices you are exposing yourself to the best performing asset class ever.\n\nAs it became a mass market an increasing large portion of participants will stay with a poor understanding and expose themselves to the worst coins while if you do some research you’ll be able to understand that everything revolves around bitcoin which is the safe haven and you can choose better coins with some insight. \n\n(For instance there will always be a natural demand for privacy coins such as Monero/Zcash, Platforms coins such as Ethereum/NEO/Stratis will be bought because applications are being built on top of it, Exchange coins with dividends such as KCS have a real value by creating a revenue, Crowdfunding social decentralized network coins such as Steemit/Musicoin have a chance to be widely adopted. And of course bitcoin is the main entry point and the main trading pair. Its dominance can decrease when most altcoins are in bubble mode but that is the only coin with a very certain future.) \n\nConversely new hot coins built for hype are very dangerous. (Bitcoin cash does nothing new but attempt to steal bitcoin hashing power, Bitconnect is a ponzi, Qtum, Tron, Cardano are benefiting of undifferentiated influx but will have to deliver to keep these relative valuations) \n\nIcos are dangerous because it’s an easy way to scam but they will also facilitate emergence of innovation. It just became easy for a team of developer to bring an application on the world market without going through the tough job of getting financing. Most of what you see right now will disappear but some will stay.",
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      "author": "netcashfx",
      "permlink": "bullish-writing-on-bitcoin-post",
      "title": "Bullish writing on bitcoin post",
      "body": "Please help me to improve these posts:\n\nhttps://steemit.com/bitcoin/@netcashfx/bitcoin-hyperdeflation-can-t-be-stopped-nocoiners-will-suffer\n\nhttps://steemit.com/bitcoin/@netcashfx/better-to-be-convinced-late-than-never\n\nEasier to read on medium:\n\nhttps://medium.com/@netcashfx",
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      "permlink": "re-netcashfx-bitcoin-hyperdeflation-can-t-be-stopped-nocoiners-will-suffer-20180112t115554699z",
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      "body": "Pretty nice read :) \n\nBitcoin is currently losing dominance (now at around 33% ) but it was the trigger that started all. I think it will lose the #1 spot sooner or later... but definitively is here to stay.\n\n I think that 100.000$/BTC is achievable within 2 years from now (probably less seeing the growth rate that we had this 2017). \n\nCheers,",
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      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://medium.com/@netcashfx/nayez-pas-peur-d-acheter-du-bitcoin-63efc77a9c31",
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      "permlink": "re-netcashfx-n-ayez-pas-peur-d-acheter-du-bitcoin-20180110t011749255z",
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      "body": "Excellent!!! \n\nEst ce que la technologie aura raison de la pauvrete? Rien qu' en la rendant virtuelle? D' une virtualitee portant sa valeur de l' usage de sa representation digitale, une sorte de pauvrecoin soutenu et propage par les masses des pauvres qui l' utiliseront comme moyen de paiement...? Un pauvrecoin qui pourra nous liberer tous nous autres pauvrecons de l occupation perpetuelle par la dette... Ne serait ce qu' un miracle technologique...",
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      "body": "To say we are still on a gold standard, is laughable. Its obvious bitcoin was engineered to replace the fiat we have. The bankers and goverment want currency that is traceable, etc. \n\nSome people think Saotoshi is a real guy, maybe he is, or maybe he is several real guys- who work for an alphabet agency, or perhaps it is an AI. \n\nI dont care if you \"work with\" saotoshi over the computer, you dont know exactly who it is, no one does. \n\nNot to mention the timing of BTC, right after the debt fueled financial crisis? Look at teh markets now, no sign of slowing down, until they drop. But thats what the banks are planning on, thats what they always do. \n\nThen everything will move to crypto",
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      "permlink": "re-brandonfrye-win-steemit-dollars-sbd-with-your-comments-20180110t002200476z",
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      "body": "Thank. It's interesting because I try to get some view on the few posts I have done after working for a while. Like this one: https://steemit.com/bitcoin/@netcashfx/bitcoin-hyperdeflation-can-t-be-stopped-nocoiners-will-suffer",
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      "permlink": "re-netcashfx-re-exxodus-why-cryptocurrencies-are-like-casino-chips-20180110t002017838z",
      "title": "",
      "body": "Steem etiquette 101....you don't do that!!! Especially when you don't even up-vote. Wow, SMDH.",
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      "author": "netcashfx",
      "permlink": "re-netcashfx-re-raymmo-the-crypto-revolution-20180110t001954099z",
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      "body": "and a more philosophical one: https://steemit.com/bitcoin/@netcashfx/bitcoin-hyperdeflation-can-t-be-stopped-nocoiners-will-suffer",
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      "parent_permlink": "bitcoin",
      "author": "netcashfx",
      "permlink": "bitcoin-hyperdeflation-can-t-be-stopped-nocoiners-will-suffer",
      "title": "Bitcoin hyperdeflation can’t be stopped. Nocoiners will suffer",
      "body": "Bitcoin hyperdeflation can’t be stopped. Nocoiners will suffer.\n\n![](https://steemitimages.com/DQmd2SVsRmEgyJgTnBMvb1B1LouVoQgThtgn1xHLVvs1Bau/image.png)\n\nWhy should you care about bitcoin ? You might think it will not affect you but you might also be underestimating it. Bitcoin has been chosen to replace gold standard and you can do nothing about it. If from outside it looks like a bubble waiting to burst, once you are inside you might see things differently. The opportunity to be part of such an experience does not occur often. It’s not too late and if you stay aside you’ll probably never understand it.\n\nGold has been around for quite some time and if it’s being challenged by bitcoins it is because things are different. If you think it’s not ask yourself how much the word has changed in the last 50 compared to the last 2000 years. History is driven by technical progress and technical progress is accelerating. A blink of an eye and you are living in a new world where socialization and parenthood is digitalized. You’ve been replaced by a robot smarter than you. You’ll not be trusted to drive a car. You’ll use the chip in your brain to order things that will be dropped from the sky. Stock market will keep crashing but things really becomes different.\n\nThe big picture is difficult to see. We used to think that everything had already been studied by great minds but things get more complex and there is now so much to learn that we don’t know anymore who are the great minds. We are in uncharted territory and it has become hazardous to judge new things via analogies with similar things from the past. Bitcoin isn’t anything like a stock market or tulip mania. It’s much more than that and worth more than peremptory judgement.\n\nThe institution in charge of money could have anticipated digitalization and made a new money suited to our economies. But they are stuck in the last century and bitcoin filled an empty space soon after it became technically possible. Things from the past have to evolve or they get replaced. You have to have an open mind of bitcoin. It’s a sign of change. Nobody understands it. When you think you do it becomes something bigger. It has exceeded all expectations and we might have seen nothing yet.\n\nTectonic movements are reshaping our society and bitcoin is a sign of this. Shifts of power are inevitable. Those in charge of taxes and regulation are trying to keeps thing under control but a new world is being built and it is escaping from their grasp. The power is moving towards those who know how to use technology.\n\nBitcoin was possibly intended to be a scam. Blockchain uses cryptography in a clever way that allows to remove the traditional need of a trusted party in guaranteed exchanges. The inventor took advantage of this to create something he called a P2P electronic cash. It’s been so successful that he might be soon the richest and most famous person in the world and yet we know virtually nothing about him and there is a good chance we never know.\n\nWe cannot be so sure about his benevolent intention because it was designed in a way to be unfairly rewarding for early adopters. It’s like a ponzi scheme in which everything is disclosed in advance and you have everybody’s consent. Of course you have to stimulate adoption with a reward but it was done in way too excessive to be sustainable except that history has proven that to be wrong. It was actually key to its success.\n\nBitcoin is not a fad but blockchain might be one. Blockchain has been around for a while and we have not yet seen any essential use case. It might be useful but it’s not something that will make us a lot more efficient or productive anytime soon. It was a good way to rationalize the excitation about bitcoin but the excitation was all about the price not about the technology. Blockchain has been a good excuse to bring attention but judging it relatively to the level of excitation is misleading.\n\nBitcoin has a great power of attraction and it’s never ending. It started in a universe with geeks, drug dealers, hackers and worse. Not something you can expect to go mainstream. But as it grows so does its power of attraction. It went through hard times but ever more people fall in love with bitcoin and everybody has its own story. It can be the lack of trust in institutions and people managing them. The feeling that they don’t deserve the right to manipulate money because it always ends up in a mess. The fear of growing debts illegitimately affecting you. The need for more privacy and freedom. The geeks taking over the world. Everyone has something.\n\nHyperdeflation\nBitcoin is very good at selling dreams but it’s also very good at something which is very real : a fast rising price. It’s even accelerating which means it takes less time every time the price double. It sounds too good to be true but it’s really happening and it has been perfectly designed for that.\n\nBitcoin has no intrinsic value and price is purely driven by supply and demand. The supply is arbitrarily fixed. It has been quickly released at the beginning to reward people running the infrastructure then rewards have been halving regularly to stop inflation and let the price rise.\n\nDemand creates a virtuous circle: more people wants to buy bitcoin, there is pressure on the circulating supply, the price rises more, this attracts more people and it keeps going on. The supply is being split in smaller fractions which are spread among the participants and stored with different time horizons. Some are not careful enough and coins are being lost. As the market strengthen you feel more confident to keep the coins for longer which reduce the supply and stimulate the price. You are stuck in an hyper deflationary market.\n\nIf you have heard about hyperinflation, it is the exact opposite. Here is the tale of hyperdeflation: Bitcoin price keeps accelerating. You are scared to loose your virtual gain and you want to cash out to lock it. You are now confident it is real but the price keeps going up and you don’t see anything coming to stop this. You feel as if you were losing money and you fear to miss out. You are ready to pay a premium to make your come back as you really don’t want this to keep going without you. It’s to difficult to take advantage of dips and tops. You already had your lesson and you do what everybody advises to do. HODL!\n\nThen you perception changes. You started with bitcoin worth pennies and you end up with Satoshis (fractions of bitcoins) worth valuable items. An iPhone is about 0.05 BTC. And if you hodl more who knows what you will be able to afford tomorrow ?\n\nYou perception changes even more as you become frustrated to see your savings lose value and you’re being tempted to convert them in bitcoins because you’re more confident and bitcoin feels safer than cash which is constantly losing value.\n\nYou’re not worrying about moving prices because you’re not spending you money anyway. You are rewarded for not spending as everything gets cheaper. The most ridiculous price predictions aren’t crazy anymore.\n\nUntil now price rise has been backed by a strong growth of the number of participants but as confidence grows a mania could start and the bitcoin price could reach irrational levels. So irrational that it could wipe out a weak currency. If you are in a small country with a currency relatively small compared to bitcoin every body could stop using it.\n\nCan this be stopped ? It has been a bumpy ride because you technical issues could have broken the system but it had enough time to evolve in something robust to support massive adoption. With no intrinsic value there cannot be surprises on the reality of what you are buying. Ethereum was a challenger promising a better technology but now that it is quite clear that people are buying bitcoin just for the price appreciation it has found its success in niche market. Its biggest success is an auction market on crypto kitties instead of digital coins.\n\nRegulation is seen as the biggest threat but there is no switch off button. Some countries have tried to ban bitcoins and if it is quite effective it is also hard to justify. Bitcoin has become big and banning it means trying to erase a considerable amount of wealth and turn this thing into a giant ponzi where an unjustified redistribution of wealth from a mass market to insiders is legally enacted. That would be outrageous especially if it happens in a democracy.\n\nIt’s far too late for this to happen and regulation cannot be much more than taxing and going after criminal activity. Forbidding speculation on digital currencies when you allow it on almost everything else including gold will just make it come back under a different name.\n\nIn fact the real risk is bitcoin being broadly accepted. Doomsayers have spread the FUD (Fear, uncertainty and doubt) to slow bitcoin. They don’t like it because they think they have understood it and that they have missed it. They have been calling bitcoin a bubble forever. They kept saying that there was no more gains to be made and that it was an unattractive gamble. As often with something which is not compatible with your mindset you keep being wrong until you accept to open your eyes.\n\nAnd you have to be open minded to understand bitcoin. We have never seen a market like this before. It’s not something localized with participants sharing similarities. It is the broadest market ever and it’s still exploding. People from all over the world with any kind of wealth or interests are participating together in the same market at different times of the day. What is the power of a crowdedness in such situation ? Does it still have an effect ?\n\nIf something having an effect on the price is happening somewhere it will be seen as an opportunity somewhere else. There are too many participants to let the price drop. As the market grows price drops are becoming shorter and weaker. And there is still so much potential left, so many people already in and waiting to build confidence, so many people outside frustrated waiting for an opportunity. And then you have businesses, banks, funds, pension and governments that might have no other choice than participating.\n\nI don’t believe in bitcoin taking over the world, I never really believed in bitcoin though I kind of like and dislike it, but we don’t see anything that is going to stop this. Until somebody gives me a scenario I cannot not have an exposure to this. That would feel like having a huge financial risk. If someone explains me how this thing is going to end with a credible scenario I’d be more than happy to free myself from the bitcoin mania but for now I feel forced to put in it everything I can afford to lose.\n\nIt is too irrational to say it’s going to drop just because you’ve heard of tulips mania and stock market crashing. We are consciously collectively ruining our planet but we can’t find a consensus to stop it. How could we be able to stop bitcoin ? Wouldn’t it be ironical to successfully tackle the bitcoin issue without making any significant progress on life threatening issues ?\n\nFred for Netcash.\n\nFollow me on https://twitter.com/NetCashFx\n\nTips Btc: 1GpdcaUucCSDsFaQhAguGB4Rxz9nCePogc",
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      "body": "yes I have a quite different view as well: https://steemit.com/bitcoin/@netcashfx/better-to-be-convinced-late-than-never",
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      "body": "Thanks. Can you let me know what you think of my article ? https://steemit.com/bitcoin/@netcashfx/better-to-be-convinced-late-than-never",
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      "title": "N’ayez pas peur d’acheter du bitcoin.",
      "body": "N’ayez pas peur d’acheter du bitcoin.\n\n![](https://steemitimages.com/DQmadEuBmGPUwpZhRhGoX4vNmqjKCXm8LBzmujkC3s6zqGp/image.png)\n\nLe bitcoin et les cryptomonnaies sont un phénomène exceptionnel. L’approche simpliste est de penser que si la bulle n’a pas éclatée c’est uniquement parce que le monde est rempli d’imbéciles qui n’ont pas eu assez d’argent pour investir et perdre en bourse.\n\nIl est naturel de se méfier de l’engouement frénétique que suscite le bitcoin mais tout aussi important de se méfier du sentiment de déjà-vu et d’un jugement péremptoire car ce qu’on observe c’est le début d’un phénomène d’adoption et une expérience enrichissante combinant de nombreux facteurs qui en disent long sur notre société. Technologie, économie, sociologie, politique.\n\nIl est compréhensible que certains ne souhaitent pas s’y intéresser mais ce n’est pas une raison de chercher à propager la défiance sans même apprendre ou comprendre. Cela ressemble a une promotion implicite de l’idée que tout système permettant à des classes mois favorisées de s’enrichir relativement par rapport aux classes les plus aisées serait nécessairement mauvais ou impossible. Mais la technologie a peut-être déjà changé la société bien plus qu’on ne veut se l’admettre et le potentiel de création de richesse est bien plus fort avec un clavier et une souris qu’avec une toile et un pinceau.\n\nCar c’est de cela qu’il s’agit. Le bitcoin est une création de richesse sur la base de la confiance qui s’est construite autour de son usage et de sa valeur future. Son transfert correspond à une déplacement d’argent. La progression du troc de bitcoin n’est pas un danger pour l’économie du moment que la rupture de confiance qu’on lui accord n’engendre pas le déclenchement d’une cascade de rupture de contrats. Nous sommes encore loin d’avoir une économie qui commencerait à être dépendante du bitcoin. Les dettes insoutenables, elles, sont un danger bien plus réel, un cancer incurable.\n\nLe bitcoin n’est pas si révolutionnaire. Tout ce qui est fait avec du bitcoin peut-être fait autrement. Chercher un consensus pour l’interdire est difficilement justifiable et devrait logiquement engendrer une cascade d’interdictions. Le bitcoin a bien des défauts de jeunesse comme par exemple sa consommation énergique absurde ou le fait qu’il permette un enrichissement stimulant mais disproportionné qui engendre de la jalousie. Mais le bitcoin et la technologie l’ayant rendu possible (blockchain) sont perfectibles et de cela a déjà procédé un élan de créativité extraordinaire qui pourrait peut-être porter un jour ses fruits.\n\nBien malins ceux capables d’en anticiper toutes les conséquences mais la balance penche plus du côté de l’innovation que de celui d’une planète qui serait menacée par le gaspillage énergétique de la blockchain. Nous n’avons pas eu besoin de cette technologie pour faire ce travail. Il est sans doute dans l’intérêt général d’avoir une attitude bienveillante et d’encourager l’émergence de cryptomonnaies consensuelles plutôt que de s’enfermer dans une condamnation idéologique de la spéculation qui déjà à l’oeuvre à tous les niveaux dans la société.\n\nLe meilleur moyen pour comprendre ce phénomène c’est de le vivre et j’encourage sans le moindre remord tout le monde à acheter au moins une cryptomonnaie ne serait-ce que pour se sensibiliser au déplacement de l’économie physique vers le digital et des risques qui y sont associés. Si vous avez peur que tout ceci disparaisse du jour au lendemain, c’est une raison de se précipiter. Vous risquez plus de passer à côté d’une expérience enrichissante que de perdre de l’argent.\n\nBien sûr ce n’est pas un appel a une prise de risque démesurée. Pour investir de façon responsable, il faut rester diversifié et ajuster son exposition en fonction du risque et de sa compréhension. Pour commencer, vous pouvez considérer que la cryptomonnaie peut être suspendue ou qu’elle peut vous être subtilisée et que votre compréhension des choses est lacunaire. Si vous avez entendu que c’est une fraude, demandez-vous quelle est votre espérance de gain par rapport à un ticket de loto estampillé avec des étoiles et soit dit en passant ne semble déranger personne alors qu’il est difficile de défendre son utilité sociale.\n\nAprès avoir appris a utiliser la double authentification, placé des ordres dans un carnet, et transféré vos bitcoins dans un portefeuilles avec une paire de clés asymétriques, votre confiance se renforcera tout comme celle des gens avec qui vous aurez partagé votre expérience. Comme la valeur du bitcoin augmente par le jeu de l’offre et la demande, en achetant du bitcoin vous contribuez marginalement à son appréciation. Si vous décidez ensuite de passer sur une cryptomonnaie alternative vous contribuerez marginalement à l’amélioration du bitcoin. Il existe aujourd’hui plus de 1000 cryptomonnaies et il s’en crée encore presque tous les jours, ce qui permet des possibilité de gains plus importantes pour des prises de risques plus importantes.\n\nCe qui rends ces cryptomonnaies si attractive c’est que l’offre, c’est-à-dire la quantité de monnaie en circulation, est généralement arbitrairement fixée et une adoption croissante de leur usage engendre mécaniquement une forte hausse du prix ce qui en stimule encore plus l’adoption. C’est un cercle vertueux ou vicieux qui s’emballe. Cela n’a rien à voir avec un mécanisme où la monnaie c’est d’abord de la dette et où la dette se rembourse avec plus de dette. Le bitcoin c’est un univers hyperdeflationiste où l’on est inciter à ne pas dépenser ses bitcoins car ils prennent de la valeur trop rapidement. Oui c’est bien cela la folie à laquelle on vous met en garde. Attention, vous risquez de gagner trop d’argent si vous transformez vos liquidités dont la valeur baisse structurellement en bitcoins dont la valeur augmente mécaniquement. Ah j’aurais du acheter cette bouteille de vin, ce tableau, cet appartement, ce bitcoin.\n\nIl y a différentes attitudes par rapport à cet emballement. La première serait de regarder vers le passé et de penser que la hausse est si inconcevable qu’elle ne peut perdurer et que c’est curieux que la bulle n’ait pas encore éclaté. Cela est déjà en fait arrivé plusieurs fois dans l’existence du bitcoin à la différence que par le passé l’adoption était très localisée et donc facilement perturbable alors aujourd’hui la pénétration a commencé à se faire mondialement dans toutes les classes sociales et pour arrêter un phénomène de cette ampleur il faudrait qu’il se passe quelque chose d’exceptionnel ce qui n’est jamais impossible. Il faut bien se rentre compte qu’un marché de cette nature c’est quelque chose qui n’a jamais existé auparavant, ni de près ni de loin.\n\nLa deuxième attitude est de regarder en avant et de voir le long chemin qu’il reste à parcourir. Si l’adoption actuelle représente des millions de personnes, c’est essentiellement des petits investisseurs dont beaucoup sont encore en phase d’apprentissage et de prise de confiance. Beaucoup d’observateurs qui petit à petit se laissent convaincre de l’irréversibilité du mouvement et tous les poids lourds notamment de la finance commencent à peine à rentrer. On vous proposera peut-être un jour de mettre dans votre assurance vie un peu de cryptomonnaie pour vous prémunir de l’inflation. Et derrière il y a encore les gouvernements et banques centrales qui semblent trop d’un autre siècle pour participer, mais ceux-là devront bien se moderniser un jour.\n\nLa dernière attitude est de croire qu’il y a des acteurs qui ne toléreraient pas de voir des bouleversements dans la structure pyramidales des revenus alors qu’il devient de plus en plus possible de se retrouver tout en haut rien que par la maîtrise des nouvelles technologies. Mais s’attaquer au bitcoin pour le détruire c’est faire disparaître une masse de richesse et acter définitivement les transferts ayant déjà eu lieu. Ce qui voudrait dire que seulement quelques uns, dont des criminels, se seraient enrichis sur le dos de la masse, une sorte de vol validé par le pouvoir pour empêcher un enrichissement de la masse. S’y opposer sera un processus douloureux et certainement voué à l’échec. Le point de non retour a probablement déjà été franchi. Le monde a bien changé, notamment les rapports de force, il suffit d’observer le comportement de la jeunesse pour s’en rendre compte. Nous sommes dans un état de révolution permanente où le fossé entre les générations est de plus en plus important.\n\nSi nombreux sont ceux convaincus qu’il faut être fou pour épargner dans de l’or digital parce qu’il est invisible il faut garder son sang froid et voir cette barrière de compréhension comme l’opportunité de se positionner assez tôt. Il est plus que rationnel d’améliorer sa diversification avec des actifs ayant des couples rendement-risque aussi attractif plutôt que de s’exposer à en souffrir dans de l’immobilier ce qui provoque aujourd’hui une souffrance sociale certaine pour peu d’espérance de gain. Mais on vous dira que la pierre c’est génial et que c’est stable et on la taxera autant qu’on peut parce que vous ne pouvez pas vous en débarrasser facilement.\n\nL’exposition optimale aux cryptomonnaie n’est certainement pas zéro tout comme ce n’est pas un all-in dans une cryptomonnaie farfelue. Si le bitcoin était un pari extrêmement spéculatif avant qu’il ne devienne mainstream c’est aujourd’hui la plus sûre des cryptomonnaie car c’est le point d’entrée de la masse et ce n’est plus un marché de niche. C’est le plus grand et divers marché ayant jamais existé, pratiquement chaque individu sur la planète est un investisseur potentiel. Le fait que le bitcoin soit assimilable à de la pure spéculation qui peut profiter à n’importe qui et surtout aux jeunes, c’est peut-être plus noble que de la spéculation avec sous-jacent qui créent des soucis tels que la difficulté d’accès au logement, les conséquences de la profitabilité à tout prix (non respect des salariés, des consommateurs, de la santé, de l’environnement, …), pousser des entreprise à la faillite, crise financière,… Quand on parle de mania dans tous les journaux on peut prendre un peu de recul et se demander où est vraiment la mania ?\n\nNous sommes dans un monde qui devient si différent du passé que toutes les analogies deviennent de plus en plus hasardeuses et s’il ne faut jamais oublier que l’histoire tends à se répéter, plutôt de se focaliser sur conséquences que sont les bulles et les tulipes il faudrait peut-être se pencher plus sur ceux qui en sont à l’origine. Des intelligences brillantes qui pensent en groupe sont souvent à l’origine de désastres. Le bitcoin sera peut-être un échec magistral, mais il risque fort de n’être que l’aiguille qui a force de grossir va finir par faire éclater la bulle dans laquelle vivre ceux qui le méprisent le plus. Le bitcoin n’est pas une répétition de l’histoire, il a toujours été sous-estimé et il faut bien reconnaître que nos esprits sont un peut étroit pour tout comprendre de l’émergence de phénomènes dans un monde d’une complexité incommensurable.",
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      "parent_author": "",
      "parent_permlink": "bitcoin",
      "author": "netcashfx",
      "permlink": "bitcoin-s-wealth-is-not-a-threat",
      "title": "Bitcoin’s wealth is not a threat.",
      "body": "![](https://steemitimages.com/DQmNtWLson1yr5bNehvcaEjejnGe3n8Q8yQpW6roDXeuR3T/image.png)\n\nHave you ever seen one asset which is listed on a niche market and that has so much success that it becomes traded worldwide by any kind of people at any time ?\n\nThis asset is Bitcoin and its economics are basic if you forget about technology which is just what made its existence possible. Just remember that it’s open source and that everybody can have an easy and free access to a deep understanding of technicalities.\n\nIt’s supply and demand equilibrium and confidence. Supply has been arbitrarily fixed though the total quantity has not been fully released yet. Hence it’s mostly about demand and confidence and with supply out of the equation it’s not a story of something going down.\n\nIf bitcoin was worthless there would be no demand and we would not be talking so much about it. There must be some value and this value is mostly about confidence. You exchange cash for bitcoins because you have some confidence it’s in your interest.\n\nIf few people were using bitcoins you wouldn’t be confident to move all your savings but just a little bit of trust can make you start using it and that helps confidence grow which makes bitcoin more valuable and the demand increase until the price reach a new equilibrium level attracting more attention. It’s hyperdeflation and I wrote another article about it.\n\nHaving no intrinsic value is actually a strength because you can’t lose what you never had and that clarify who you are.\n\nCan you assess bitcoin risk ?\n\nIf demand and confidence are self-sustaining price will keep rising until demand is peaking unless something happens to break confidence or force demand to decrease. Bitcoin has grown up a lot and past a point when a major shift in confidence is hard to imagine. Breaking confidence would require something extreme but not impossible and that is precisely why you’re being advised to always stay diversified and exposed accordingly to your understanding.\n\nUnderstanding of bitcoin is still extremely poor and that makes it an excellent opportunity. For many people bitcoin came such as a surprise that they want to see in it another Tulip mania because they don’t want to feel that they can be greatly outsmarted by anybody. They live in their own bubble and bitcoin is the needle.\n\nBitcoin can still go down sometimes but everybody has a price at which he is ready to buy and that puts the minimum value always higher.\n\nSuppressing demand is something wanted by Nocoiners. Finding a way to say stop would mean that some leaders agree to willingly destroy wealth to turn this story into a forced redistribution scheme from nobodies to lucky ones including criminals. That is never going to happen and once this is understood this will suppress more fear and let the price rise higher.\n\nYou’re being told that bitcoin is the most speculative investment but bitcoin is not an investment. It’s not volatile because it’s risky like a stock that has an uncertain price but it’s volatile because people are ready to pay a premium to secure enough of it. It’s an insurance against it becoming the most perfect store of value so far.\n\nBitcoin is not a threat to our economies, it’s not a legal tender. It’s just money changing hands and backed by something you consent to believe in. It’s wealth created out of nothing and backed by confidence pretty much like if you were selling new paintings.\n\nIt’s fair to let this market develop because it says much about what needs to be done to improve real economy. Bitcoin is not perfect but undeniably powerful and instead of rejecting it we should let it evolve and try to learn from it. I do believe the price is going way up from where it is now but when most people you know tell you the opposite and you are not able to convince them that means bitcoin is still bigger than you and you have to accept it with humility. It’s not just about bitcoin itself it’s about everyone as a society in an era of permanent revolution.\n\nhttps://twitter.com/netcashfx",
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      "parent_author": "steemittiger",
      "parent_permlink": "live-now-how-to-100x-your-bitcoin-in-2018-with-bitcoins-wealth-club",
      "author": "netcashfx",
      "permlink": "re-steemittiger-live-now-how-to-100x-your-bitcoin-in-2018-with-bitcoins-wealth-club-20180110t000239107z",
      "title": "",
      "body": "you're link does not work. Please let me know what you think of my view: https://steemit.com/bitcoin/@netcashfx/better-to-be-convinced-late-than-never",
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      "parent_author": "hackethics",
      "parent_permlink": "kucoin-best-crypto-exchange-to-date",
      "author": "netcashfx",
      "permlink": "re-hackethics-kucoin-best-crypto-exchange-to-date-20180110t000143505z",
      "title": "",
      "body": "I made a quick profitability calculation here: https://steemit.com/crypto/@netcashfx/kucoin-is-a-nobrainer\nPlease let me know what you think",
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    {
      "parent_author": "investingtips",
      "parent_permlink": "my-investment-plan-for-cryptocurrencies-currently",
      "author": "netcashfx",
      "permlink": "re-investingtips-my-investment-plan-for-cryptocurrencies-currently-20180110t000016118z",
      "title": "",
      "body": "Hi, bitcoin is the standard and the parabolic move is not going to stop. Agree on Ethereum (Neo and stratis for same reasons) and Monero (as well as Zcash for same reason).  KCS is one to consider with huge payouts from the trading fees. It's actually generating revenue and is one of the best call ever in crypto. Regarding bitcoin can you let me know what you think of my article ?",
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