The Bitcoin Group #69 – BitFinex Hacked, Lawsky Steps Down, Block Size & Wall Street Bitcoin





New York Soon to Unveil Fresh Bitcoin Licensing Rules

New York’s bitcoin cop Ben Lawsky steps down

Bitcoin Core Developers Disagree on Proposed Block Size Increase to 20MB

Nasdaq Signals Confidence in Bitcoin, Not Just the Blockchain

Goldman and IDG Put Million to Work in a Bitcoin Company

Silicon Valley banks on Bitcoin as a way to overtake Wall Street

NYSE Gives Bitcoin a Serious Leg to Stand On

First Bitcoin-based security starts trading on Nasdaq Nordic

The Oregon Trail Generation: Life before and after mainstream tech

then Questions and Answers from the Audience! 

and Predictions!

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  1. bitfinex was openly and honest and did explain what happend.. ofcourse couldn't give all details.. but looks like one of their vps (or whatever they run) got hacked.. some how..   they did find the hack through monitoring tools, they did prepare for such an event to run a new hotwallet in a few hours.. …. good job on bitfinex.. it's a calculated risk.., this is how it should be done.. and hope you learn even more after this on how to even get better.

  2. I have a prediction. I think this year long bitcoin price decline is over. Yes I think bitcoins have finally bottomed. I also think when the next financial implosion rolls around (probably around January of 2016), bitcoins are going to start looking like a safe haven compared to the crashing financial markets, declining real estate prices, banks and brokerages going bankrupt and governments seizing money from citizens as they did in Cyprus. I'm not saying it will happen over night but increasingly, starting around January, I predict that it will begin to happen. 

    If you want financial advice from a diesel mechanic like me, I recommend getting out of real estate, stocks and such and putting money into bitcoins and Silver. 
    Following my own advice I'm selling my paid off rental condo and dumping it all into my house mortgage. Then I'll take my surplus monthly income and divide it between bitcoins and silver. Before the 2008 recession I bought silver. Then I waited for the property values to bottom out. Then in 2012 it looked like they had so I cashed in half my silver for a 14k down payment on my house. I made about 8000 in profit on silver when I bought my bank owned house. Then over the last 3 years the house went from 160k to 233 according to the tax man. So 73k on the house plus 8k for the silver increase is 81k. And during the last 3 years my rental condo went from 54k to a net (after tax, after real estate agent commission of 91k) to 91k is an increase of 37k. So just by taking advantage of the boom bust cycle since 2006 I have about 118 thousand dollars more than I would have if I just farted around like everyone else. 

    I'm not blathering about this money because I want to look cool. I'm using these numbers as an example of a strategy that works. So take it from me (even though I'm not a financial advisory, LOL). Get out of real estate, get out of stocks, and buy silver (that's almost a sure thing since silver almost always goes up during economic recessions, and we're headed into another one right now). Bitcoins however aren't a sure thing but if they take off as I suspect they will, you'll get a profit that's vastly more impressive than silver will deliver. Silver went up 270% during the last recession but bitcoins could perform vastly better than that. But then again some kind of disaster could happen that wipes them out. It's a risk but the rewards could be staggering if what I expect to see happens.