Tether Printing Press In High Gear, Issuing $400 Million in Four Days (news.bitcoin.com)

Bitcoin has had a rocky week to say the least. At its lowest point, the cryptocurrency dipped to $ 9,200 before a rising green candle sent it scurrying back into the safety of five figures. That candle was sparked by the release of $ 100m worth of tethers – surrogate US dollars – and was followed by another $ 100m issued for the next three days in a row. Tethers are propping up the bitcoin market right now, but what happens when the music stops? Should regulators wade in or Tether shut


Bitcoin Wallet Maker Ledger Raises $75 Million for Security Push

Bitcoin is the largest cryptocurrency, and with its growing importance there's been a wave of dedicated hedge funds and established players planning on setting up trading desks for digital currencies. Still, some security issues need to be sorted out, and volatility is a concern — bitcoin tumbled below …
Google Alert – bitcoin

Bitcoin startup NiceHash has a new CEO just weeks after hackers stole $63 million from the company

The cryptocurrency mining startup NiceHash has replaced its CEO just weeks after a hacker stole $ 63 million worth of bitcoin from the company. Marko Kobal, the company's ousted CEO, will sell his stake in NiceHash to an outside investor. Investor funds will also be used to reimburse NiceHash users …
Google Alert – bitcoin

Simulating a Decentralized Lightning Network with 500,000 payments, 0.01% fee per hub and 10 Million Users: 100% success (99.9986%)

I repeated Diane Reynolds' simulation, as described here, using her program. The only change I made was that instead of having "11 different fee policies evenly distributed among users", each node simply asks for 0.01% fee (= value x 0.0001) to route a transaction. Some of the 11 fee policies were quite complicated, like "trying to make channels more balanced".

Here are the main results:

Payments attempted: 500,000

Fee as a percentage of the payment 0.175

Routing failed: 7

Routing failed for bigpayments: 3

Routing failed for midsizedpayments: 1

Routing failed for micropayments: 3

Average lengths of routes: 17.5

So the payment failed for only 0.0014% of the payments. Note that for the last 100,000 payments, routing failed only once (1 midsizedpayment) and from 100,000 to 500,000 only 3 times (1 big, 1 midsize, 1 micro). The average total fee for a payment makes sense, as 0.01% x 17.5 hubs = 0.175% total fee. I didn't realize the program stopped after 500,000 payments and will now try to run it for more payments.

submitted by /u/sumBTC
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Bitcoin – The Currency of the Internet

How to HODL : Just lost a million dollars in bitcoin, didn’t blink an eye

This is a throwaway account for obvious reasons.

I've recently seen some posts about people getting mortgages on their house to buy bitcoin, then losing a bunch of money in a recent price correction, and get rekt.

I don't know if these stories are true or not, but I think we can all agree such behavior is pretty irresponsible.

However, it got me thinking. During the most recent market correction in bitcoin I saw my net worth plunge by a million dollars in a matter of days.

And I didn't even worry for a moment.

Which got me thinking, maybe not everyone has this insight because they don't have a million dollars worth of bitcoin to even lose; on paper or not.

The main point I wanted to make is this.

If you invested say $ 10,000 in bitcoin. And that's all of your extra money in the world. And it was really hard to come by. And if you experience a major market correction, and see your investment drop to say $ 5,000, it can freak you the heck out.

It can cause you emotional pain and distress, anxiety and worry.

What all of that is telling you is that you violated rule #1 of bitcoin. Don't invest more than you are willing to lose.

If you can throw $ 10,000 at bitcoin, wait five years, and make a singular bet on a binary outcome, then that is perfectly reasonable behavior.

However, if you throw $ 10,000 of your hard earned money, that if you lose will devastate you, then you are doing it wrong. I won't even talk about how stupid it is to borrow money to invest.

Personally, I invested in bitcoin over the course of many years, and over those years and on multiple occasions, I pulled some profit out.

Today, whatever bitcoin I have remaining, has a cost basis of effectively zero. If I woke up tomorrow and bitcoin went to zero, I could fairly and honestly say, "I made a lot of money off of bitcoin" and be good with the outcome.

I'm playing with 'house money' at this point. It's like I went into the casino, won a few big hands, pocketed my original wager with some profit, and then just kept playing. Maybe I win big, maybe I go home empty handed, but no matter what happens I came out ahead.

So, just a couple of weeks ago when bitcoin began to approach the $ 20,000 mark, I owned over $ 2.8 million dollars worth of bitcoin on paper; on paper.

After the recent flash crash of a few days ago, it was under $ 1.8. I 'lost' a million dollars in literally a couple of weeks.

And, at no point, did I feel anxiety or concern.

For a number of reasons, but the main one is that I'm not risking more than I'm willing to lose. If bitcoin goes to zero, I will live with that. I have taken enough money 'off the table' by now that I am already financially independent, so the remaining amount I have in bitcoin is just 'gravy'.

I know that these 'crashes' are really just traders trying to prey on the fears of newbies to shake out weak hands.

I've seen it all before and I will see it again. Literally nothing changed with bitcoin fundamentals. It was just traders trying to manipulate people with emotion.

I won't gauge the success/failure of my remaining bitcoin investment based on what Roger Ver tweets or based on some trader dumping his coins on the market.

Wake me up in five years. I will either by very happy with my investment or, most likely, it will have gone to effectively zero. And, as I said, I'm good with either outcome.

So…why post this? I mean, this doesn't really help newbies. They don't have millions invested. They have probably still invested money that they are afraid to lose. They probably aren't financially independent or playing with house money.

Here is why I think it is important.

I'm not the only one.

Anyone who managed to accumulate and hold 100 bitcoin or more over the past five years is a pretty grizzled veteran.

We can remember when someone dumping 10,000+ bitcoin on the market was a 'whale'.

Today a whale is, what, 100 bitcoin?

Soon it will be, what, 10 bitcoin?

The point is that these tricks of trying to use scare tactics to get people to dump out of fear diminish in power over time.

Sure, you will always be able to scare the newbie but, then again, the newbies don't actually hold that much bitcoin either.

The veteran holders who are in this thing to the bitter end are not going to be so easily manipulated. Not by traders and not by attacks by the likes of Roger Ver.

We aren't going anywhere. If we wanted to sell some our our stash, chances are we already have. The rest we are going to let ride.

Telling me that fees are going to rise. Or that bitcoin cash is the 'real bitcoin' or that <insert your alt-coin here> is the real thing, none of that matters to us. If we were going to cheat on our bitcoin wife for some sleazy alt-coin, we would have done it a long time ago.

We believe in the bitcoin network and the current roadmap we are on. If you don't, chances are you have long since left and gone elsewhere.

Prying our bitcoin out of our hands through scare tactics, DDOS attacks, social media attacks, fee attacks, none of that is going to work. We are here to stay for the long haul.

submitted by /u/bitcoinholder123
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Bitcoin – The Currency of the Internet

Feds moving quickly to cash in on seized bitcoin, now worth $8.4 million

Given Bitcoin's incredible rise in price over the last year, the sale is likely to result in the highest number of dollars of any forfeited cryptocurrency associated with a criminal bust. In 2014, nearly 30,000 bitcoins that once belonged to the notorious Silk Road website were sold to Tim Draper, a well-known …
Google Alert – bitcoin

Muslim clerics just declared that owning bitcoin was compatible with Islam. A saudi just opened another $100 million dollar bitcoin fund as a result. The new flood of money coming in will dwarf all previous inflows.

Muslim clerics just declared that owning bitcoin was compatible with Islam. A saudi just opened (correction: Kuwaiti Is just opening) another $ 100 million dollar bitcoin fund as a result. The new flood of money coming in will dwarf all previous inflows.

Edit: source http://archive.fo/kkV6m

Kuwaiti supposedly opeing new fund https://m.youtube.com/channel/UCQA-iX6ITOCRPvsZjeRyjlg

submitted by /u/azzazaz
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Bitcoin – The Currency of the Internet