The Great California Coin Rush

 

traders, prospectors, miners & hysteria on the trail in the new Wild West

San Francisco, 2017

'It's all the same, only the names have changed" -Jon Bon Jovi

"Old World money is being supplanted by a new form of exchange that exists on a different plane than fiat. A growing group of nouveau riche will control much of the new Wild West." -Son of Satoshi

 

The mainstream media loves the Coin Rush, just like it loved the Gold Rush. Both stories received attention early in their development. The coverage can be described as biased or confused, at best. The community knows there are financial evolutions in progress, though may not know much about what is happening. The lack of good reporting has shrouded these 'Rushes' in lore and legend, rather than a coherent narrative.

Current societal beliefs about the legitimacy of earning money during the Coin Rush are similar to old beliefs about the Great California Gold Rush. When opportunities emerge, people who do not partake, sometimes feel left behind. 

They protect themselves with simple short beliefs, delegitimizing the opportunity. Sentiment such as "that's not a real job" "that's not a real way to make money" "that's not real money" go spoken or unspoken, latent or conscious. Walking away from what is tried and true generally comes with odious warnings from those resistant to change.

Hysteria rules among those trading, mining and prospecting.  Generally overstating their own earnings and the true value of coins. Eventually, out group members find convenient ways to enter the fray, balancing out the runaway optimism. Prices are established by our collective beliefs of what the coin should be worth.

The best way to collect another's money is the promise of more money. Buying a goldmine for $5,000 in 1850, potentially worth millions, is like filling a room full of AMD processors and a small staff. AMD, you get the gold medal. A modern equivalent of the NorCal Gold Rush real estate market.

Security and safety are major issues which permeate both time periods. Hardware storage wallets have been back ordered since February '17. Most traders have given their most private data to more than five new companies. There will be data breaches and lots of learning about secure coin storage over the next few years of the Coin Rush.

Most of the high crime of the Coin Rush is digital, though a new kind of stagecoach pistol robbery is in the works. Market commentators, like Cedrick Dahl of Palo Alto, make videos from their own homes about their own wealth. Some group will eventually rob an investor and have the investor's funds disappear onto a Monero account. A robbery scenario would also be a profitable hoax for someone like Cedrick to participate in. 

Finally, the gambling of the Wild West saloon halls never really went away. The west love gambling. Poker is still massive. The rush you get logging into an exchange like Poloniex with 500 or 1000 dollars to spend is greater than anything the Poker world has to offer. (Smart investors are being smart investors. They are holding on for the long term on the right projects.) There is a segment within the coin community that has taken gambling and betting to new heights, with instant trade exchange platforms and underground betting websites.

Sold some ETH...it's OK

The community must not blame people for selling their coins at high turns in the market. They arent stupid. They arent all disobeying the rules of a long holdings game. They simply don't have the cash to pay rent and reality bites.

I sold some ETH last night and felt let down about it, but now have options.

It's rare to find people low on cash, high on coin because of the BitPay Visa card & other convenient app options. 

 

Starting the Evergreen of Coins

What we see today is unprecedented with prices hitting all-time highs. The dream has come true so to say. Buying ETH early created many young home buyers. Unstoppable -

Besides winning on the financial front, it has proven difficult to infect enough fake news bias onto the topic of ETH/BTC to sway the populace. Apple is now accepting coin, Dash, as well as roughly 8 other big name companies accepting coin transactions. 

Of course, there's the BitPay Visa debit card which makes things convenient. That partnership between BitPay and Visa alone speaks volumes. 

 

The Importance of Names and Definitions

Digital currency markets have allowed themselves to be branded pejoratively whether intentionally or not. There is an interest in alternative personalities to brand using titles that reflect secrecy or criminality, for instance the Silk Road referencing kind of off-grid illegal trading.

There is also an interest to make these currencies synonymous with criminality in an effort to marr their reputation. Crypto and Dark Net could just as easily be sold on secure access and privacy. Instead, the nomenclature is spooky. Ether and Ethereum are awful names for a currency that should represent safety, privacy and innovation. Ether is something evaporating before your eyes, not a verbal representation of financial holding.

Cold Storage aka Hard wallets: One will always need it

Hard wallets aka cold wallets is this tangible device that makes us, humans, feel comfortable that we have that money. Do we need it?

Of course, it's always needed no matter what level of knowledge you have for coins. Either you're starting off with investing or using it for savings, cold wallets are needed. Why, because we must always be prepared for any events if anything happens with our coins. Also, it's that comfort that you have your money safely stored in the tip of your hands.

Do you agree?

 

 

 

Vitalik Buterin, Ethereum co-founder, Is Alive & Well

& so is ETH.

 

The digital currency news and entertainment community is so starved for a story, they are attributing a natural currency stabilization period after ETH topping out @420usd, to a death hoax rumor re: Vitalik. 

When prices hit all time highs, there is a market correction for at least the next week or two. Watch stock or currency markets to better understand the coin world.

ETH Price This Week

There is no real reason ETH should be dipping down to the $200s - or Is there?

Much speculation is being made with ETH prices dipping low.

Remember, we can buy coins based on how much we can afford. You don't have to buy coins by units. You'll gain or lose, no matter when and what type of coin you buy. It's a matter of how you'll use it. To save, invest, or for payments.

Noobs constantly check their coin prices because they see it as never ending lotto. But when you really think about it, these will always go up and down. 

If you think  digital  currencies are a good idea, hold on and be in it for the long run.

Are we ready for DAPPS ? ( decentralized applications)

Anybody thinking about all the DAPPS (decentralized applications) that are being created and implemented?  These DAPPS are being developed as we speak and pretty soon they'll be readily available software like any other softwares. ETH will be the exclusive currency of use.

Society will need time to familiarize the use, as how we did with credit cards.  Remember the Diners Club card when it was first used in the 1950s?  Then the credit card was normalized in the 1960s with American Express. The first five years 2017-2022 will be an evolutionary period for the financial sector.

Shaking Up User Confidence, ETH Price Drop

 There is little that the enemies of digital currency can do to offset this wave. They are limited in their ability to upset digital currency momentum and shake user confidence.

Selling large amounts to drive prices down is one way. Another is to sabotage exchange platforms.

The community can respond to both these issues simply by buying low and using a hardware device wallet. 

Coinbase PR Campaign, Distraction Campaign

 Ladies and Gentlemen, step right up. What I'm about to tell you is both mind blowing & market shattering. I'm calling Coinbase's bluff.

They can't handle the amount of volume coming their way. Instead of manning up and admitting it, they're using it as an opportunity to cleverly self promote in a most disingenuous way.

Today the price of Ethereum on GDAX went down to $13, but did it really?  The answer is NO. They admit that NO transactions actually transpired at that low rate. It was 13 in number only for promotional purposes. 

They did this in April as well, putting the price of BTC @ six cents while they were down for maintenance. 

Forex Trading With No License, Tons of Opportunity

You can't call it day-trading when the market is open 24/7 ! 

Talk about a wild west market situation, this is unreal.

Ok, you will still need a license to do foreign exchange currency trading. Though, the striking similarities between the alt coin and major currency markets allows us to make educated guesses. 

On the trading platform Poloniex, users trade coin-to-coin with no fees. There are many emerging alt currencies to choose from on Poloniex. 

Imagine a situation where a currency valued @ .50 cents is about to get a big bump. You trade your Ether or Bitcoin for the emerging currency and let that .50 cents become $1.25 and then trade again, coin to coin back to your original currency, gaining more than twice as much holding. 

This past week, a coin to coin trade of Ethereum @ 400 to Litecoin @ 27 would have nearly doubled your stack with LTC now @ 50.

Coinbase "Offline" During the Recent Bitcoin 3K Milestone

When coin daily volume is off the chain, as we've seen recently, some of these platforms (ESPECIALLY COINBASE) go offline due to self described "tech updates" & such. They really can't handle the volume & currently have no customer service dept.

The feeling of not having access to your coins during an unprecedented period of market strength is unsettling. It makes some first timers paranoid and shakes up their confidence in the big concept of alt currency.

Prices aren't going to drop dramatically like the 1k milestone, we have enough users to reproduce the community and buy back in. But, many different platforms could lose users if the market decides to drop coin related 3rd parties and use the big banks new digital currency transaction platforms.

The banks are moving in aggressively

http://www.nasdaq.com/article/are-banks-ready-to-embrace-blockchain-technology-cm798599

How will this play out ?

Zuckerberg's Triumph Story Comes Further Undone

The Winklevii defeated the FB narrative & are now challenged by a FB-like exchange company, Coinbase/GDAX. This is round 2, and even though they didn't win at the Olympics, these brothers still have the championship belt!

Compared to Gemini, Coinbase/GDAX charge higher basic coin price, user fees and have longer pending transaction times.

Coinbase has already shared user information with the Federal Government. The Winklevii have given the public many indicators that they are libertarian ideologues in it for the long run with loads of cash. 

Use Gemini exchange and support these champs !!!

https://gemini.com/

 

 

Where is digital currency taking us?

"This technology has the potential to disrupt a whole host of industries from financial services to manufacturing, supply chain management, and to health care records, by infusing transparency and trust in traditionally closed systems." as stated by Congressman M. Burgess (TX) at the March 2016 Hearing of the Committee on Energy and Commerce.

Are we ready for this change? Let's step back and evaluate how these technologies are developed. Technology is moving quicker than humanity can sit and enjoy their coffee. The lifecyle of a cellphone is about 6 months. 49% of consumers are upgrading their cellphones within 1 year (reconanalytics.com). As we become more mobile, people are replacing their personal computers (PC) to laptops, tablets or iPads. In the finance world, we have credit cards and iPays that allows us to pay goods with a swipe of the card.

Now, with the development and mainstreaming the use of digital currency, new solutions called decentralized applications (DAPPS) are live or in development to support not only the digital currency, but also industries, such as travel, finance, insurance, etc. Check out State of Dapps, https://dapps.ethercasts.com/. One must understand the digital currency and its impact because, the mushroom just bloomed with DAPPS.

If you’re new to the decentralized and open source community, let’s start with Open Source Initiative (www.opensource.org). In order for one to understand, the formula= share, open, humble, and innovate.

World Coin Index - Family of Coins worldwide

See the family of coins in World Coin Index (www.worldcoinindex.com).  We all know that Bitcoin (BTC) -13.69%, was first and foremast of the coins. Since inception, popular and stable coins are now available. You can find these coins in the World Coin Index. This page will help you assess the inventory coins world-wide. If you need some research on a coin, click on the name and it will provide the coin profile.