Ep 224: Pirate Bay Springs Monero Miner on Website Visitors, Australia Stops Double-Taxing Crypto, DASH Update with Special Guest Joel

Pirate Bay springs website Monero miner on users. Australia stops double-taxing crypto. Micropayment solution for Ethereum announced. Blockchain tech on docket for SEC committee. Plus a DASH update from Darren and special guest Joel from Dash Force News.

We’ve written out short overviews of the topics discussed on today’s show below! Be sure to listen in to the whole podcast to get more information, insights, and thoughts on each of them from Darren, Pedro and JJ!


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Traditional Financial Markets Cryptocurrency Markets
Gold $1,299 Bitcoin (BTC) $3,963
Silver $17.09 Ethereum (ETH) $286
Oil $50.29 DASH $339
Dow Jones 22,412 points Litecoin (LTC) $52.70
30Y UST Yield 2.807% Bitcoin Cash (BCH) $491

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Crypto Market Report 001 and Is Bitcoin a Bubble?

This is the Crypto Market Report brought to you by Neocash Radio dot com.

Is Bitcoin a Bubble? Is this like the dot com boom and bust? A critical look at these ideas and more following the Crypto Market Report.


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Crypto Markets are down across the board.

Bitcoin is seeing sub $2000 prices with Poloniex leading the exchanges on volume with the Ripple and Ether pairings on top. The Poloniex BTC/USDT pairing dropped as low as $1600 earlier today. Koreans are still paying a premium with Korean exchanges showing prices over $2400.

Looking at Ethereum, Korean exchanges are topping the volume charts with 30% the market volume and a price premium of $180. The latest news is that one of the biggest Chinese exchanges Huobi is adding Ether today.

Dash is back under $100 but just as bitcoin and Ethereum, Korean exchanges are trading at $120.

Most other coins and tokens are down 20-45%


There are many like it but I’m linking to a recent Forbes article that begs the question is Bitcoin a Bubble? I will attempt to answer it for bitcoin and crypto currencies at large. No, it is not a bubble. As we discussed in episode 208 of Neocash Radio, what you are seeing is the next stage of mass adoption, not the iphone in every hand stage but an earlier stage. Think the first wave of internet capable phones. You know the 1x years where internet was text based and highly pixelated. That’s the stage that crypto is in now. The User Interface of most clients is unrefined and strictly functional. Just installing the software for some coins requires a modicum of IT knowledge and confidence. It’s rough, it’s sometimes dirty, and it can be challenging but it works. It works so well that we have a massive influx of new users and new money.

The dot com bubble saw a rise in financing for a vast array of internet ideas and solutions. Many of which did not pan out. In that sense this is exactly like the dot com scenario. You have hundreds of blockchains competing for a piece of the future pie. Many of the projects have little more than a minimal viable product. Some have little more than a white paper. Many will fail and several others will usher in a new age of digital humanity.

There are many differences between the dot com era and today. For one, with many blockchains you have a level of transparency that allows anyone to scrutinize every transaction. Secondly, the software is open source and is often reviewed by numerous experts. Third, the core community is a tenacious, intelligent and often unforgiving. Many in the community have seen or felt the sting of a scam, rip off, or simply a bad trade. They will see the red flags and they will shout. There are very few places to hide and the fickle marketplace can giveth just as quickly as it taketh.

As I mentioned in the Crypto Market Report, Coinbase has had a massive influx of new accounts each potentially bringing with it a fiat to crypto transaction. The crypto markets are being flooded with fiat from many as of yet untapped sources like Korea, Japan, and Australia to name a few. JPMorgan, Toyota, and Fidelity are also investing in blockchain technology. This is not a bubble. It is the next wave of mass adoption. This trend will continue. This is my imperfect forward-looking assessment:

  • There will be a surge upward that generates news and attracts new money
  • New traders buy in pushing the trend higher
  • New heights cause a mix of euphoria and trepidation
  • The wave crests – a decline will happen locking most of the money in the market (who wants to sell for a loss right after getting in?)
  • Repeat but now those new traders are seeing gains – some cash out and are replaced by new money, some double up

Its organic, massive, and nigh unstoppable. Welcome to the future.


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Neocash Radio has been at the forefront of crypto currency news coverage since 2013. We are self funded, independent, and the show comes out every Wednesday and runs anywhere from 30 to 60 minutes. We cover all the coins, tokens and chains. Subscribe to our podcast on Google Play Music / iTunes / Soundcloud / Stitcher / iHeartRadio / YouTube / Podcast Addict and more!

Episode 134 – Where in the World is Satoshi Nakamoto?

New Hampshire passed bitcoin regulations. Australian Tax Office raids house of man to steal money, turns out WiReD thinks the guy is Satoshi. China on course to overtake Switzerland for worlds top rice producer. More countries are looking to outlaw cash. GoCoin and Ziftr merge. Occupational licensing costs an average $1000 per American household.

 

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Traditional Markets

Gold down slightly $1075

Silver down $13.89

Oil drops to $35.36

DOW 17,265

30y US Treasuries down 2.8763%

 

Crypto Markets

BTC 435

LTC 3.57

ETH 1.03

 

Bitcoin Difficulty estimated to be above 90 billion after next adjustment.

Bitcoin Regulations in NH

http://bravenewcoin.com/news/new-hampshire-money-transmitter-rule-change-will-include-bitcoin-businesses/

Australian Police Raid house of suspected Satoshi

http://www.reuters.com/article/us-australia-bitcoin-exclusive-idUSKBN0TS0AB20151209#HIKHttHmeRaYKS3L.97

http://www.theaustralian.com.au/business/companies/ato-in-the-hunt-for-possible-bitcoin-founders-stash/news-story/f7efe50bb9ecb0c608d58a902c5a4efe

China on course to surpass Switzerland as top rice producer.  

http://www.rwrreport.com/china-to-overtake-switzerland-as-world-leading-producer-of-rice.html

Sweden to outlaw cash

http://www.businessinsider.com/sweden-has-declared-war-on-cash-2015-12

Higher interest rates in December?  Many Economists think so.

http://www.wsj.com/articles/wsj-survey-economists-are-convinced-fed-will-raise-rates-in-december-1449759601

GoCoin and Ziftr looking to merge

http://www.newsbtc.com/2015/12/10/bitcoin-payment-platform-gocoin-takes-merger-vows-ziftr/

Canada’s Central Bank governor considers negative interest rates.  

http://www.cbc.ca/news/business/stephen-poloz-monetary-policy-1.3355704

Occupational Licensing costs the average American household $1000

http://ij.org/occupational-licensing-costs-the-average-american-household-over-1000/

Episode 99 – Government Censorship and Security

Australia says no to regulating bitcoin, Rand Paul is the first US Presidential Candidate to accept bitcoin for his campaign donations. Overstock is going big on the bitcoin train. PayPal merchants can now accept bitcoin. The Bitcoin Foundation is on the rocks. Police stations are having their files held for ransom. Turkey and Russia are censoring internet content.

putin-better

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Episode 97 – Greece Running Out Of Money

Paybase/paycoin is a scam. OTC Bitcoin Asset GBTC goes live. Greece is running out of money and the US is running out of money…. again! Australia looks to tax bank accounts. The EFF and Fred Wilson weigh in on the New York State BitLicense. Convenience stores Seven Eleven Mexico launch a digital currency.

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