Down to 20 shopping days left for Christmas. Creeping up too fast for those who haven't started decorating yet or browsing for gifts.
It's the usual daily scuttlebutt on news articles about Bitcoin and cryptos in general. Some days positive, others; not so much.
Dealing with the USD, I received transactions from Diversity Fund and Sanze Profit (I entered via Diversity Fund).
Entering the Christmas Holiday's month, It's been a busy weekend with Black Friday sales continuing in the shops until today and online. Next is Cyber Monday, Dec. 2nd where there will probably be a few billion in total sales raked up. . In 2018, it was just shy of 8 billion for online sales. Wicked.
Bitcoin's slow climb for a few days has stalled for now
While Germany is getting more crypto friendly in 2020, Russia is the opposite with the Bank of Russia supporting a ban on crypto. A ruling by the Russian government is still in the works to decide on that issue.
It's a world of pros and cons when it comes to crypto currency affecting prices on a daily basis, except the more popular Stable Coins.
While China weighed in on the price of Bitcoin this month ... first causing a boost and then later a crackdown on exchanges over there helped bring the price down, there's upbeat news out of Germany where that country is getting more crypto friendly allowing banks to deal with and hold crypto in 2020.
Meanwhile, Bitcoin has been on a steady rise. November hasn't been the best month for crypto this year. See what December brings.
I added some USD to Diversity Fund today and all the ventures listed under the Diversity Fund banner on the right sidebar are performing as advertised, to date.
Kraken , the popular US exchange and trade site that's been expanding and buying up other assets, has a new option for Canadians to fund their accounts ... thru Canada Post. That's new and I haven't heard of or tried that option yet.
Good to see Bitcoin come out of the fog it's been in lately and started a rally today with a gain of over $500 USD so far in the last 24 hours, pulling up other Altcoins with it.
I added some Bitcoin to my crypto wallets from venture cashouts when it was down so liking the double gain today. Could be short lived or start of a decent Bull run.
Just as it's been cloudy here in Nova Scotia for the last few days, Bitcoin has been clouded over this past week with a monthly loss of near 10% in November so far but ... sun and warmer tomorrow and BTC is in the 'green', climbing some at this time. The crypto scuttlebutt is about China causing issues last week, cracking down on illegal exchangers in that countries major cities ... spurring a lot of selling, dropping just below $7000 USD yesterday. Hopefully, that news has drifted off and things have leveled off until next time.
Despite that, BTC has had an overall gain of about 67% up to this point in 2019.
Diversity Fund issued me a quick USD payment today and I've been stocking up on their $50 profit units.
The daily slide continues with the price of Bitcoin in November (-3.84% so far). As BTC slides into my Wallets, I have a few options. I can hodl (crypto jargon for hold long term), swap to a stable coin or convert to USD. Lately I have opted to swap for the stablecoin, PAX (1 to 1 with the USD) as I add to my Wallet rather than lose steady as BTC drops. By using PAX, I can quickly swap back to Bitcoin when it gets back on track and begins gaining in price.
In Blockchain.com, 'swaps' usually take an hour or less with my experience. When I initially joined Blockchain, exchanging was done through Shapeshift.
ShapeShift, a Switzerland based company operating out of the US in Denver, Colorado has introduced it's own coin called, FOX, which provides for free trading on their exchange.
All platform users who sign up get 100 FOX tokens automatically, which, if held, never expire and provide $10 worth of free trading volume per token on a rolling 30-day basis
I was reading an article yesterday that everybody online should be wary of. When you receive an email, even if it's from someone you are expecting to send a message to you or from strangers when it comes to anything involving your personal information or money matters ... and it comes flagged with 'suspicious activity' ... what do you do?
Simply ignore and open it. Not a good idea. There is a reason it was flagged. Stop! and check the senders email first and still don't open it. If you are expecting an email, check with the sender and send a message to verify explaining that you received a flagged email. 'Did you send a message at this time?'
People have lost billions of dollars by simply ignoring a 'suspicious message' flagged email and even Bank employees ignore at times when instructed to send money ... that complacency thing. Scary for sure.
Notice in this article how the sender's email was altered slightly from the original to look authentic.
Be wary and careful out there guys.
My Passive Trades , sent me a 'same day' Bitcoin transaction in my latest withdraw from that venture. Not all sites that Diversity Fund recommends are winners and no investor is a 100% winner all the time (not even Warren Buffet), but MPT was and still is a good pick.
I added a new post on my Fintrek page about Cash ETF's dealing with high interest gains. Just another interesting option to explore.
As Bitcoin continues to tank for now, there's not much to cheer about as the value in 'wallets' drops. I think there was a hope BTC would go on another steady climb headed for the new year bringing other Altcoins up with it but I don't see that happening at this time.
Meanwhile, in the stock markets, things are rosy so far, compared to the end of 2018 ... even with worries about the economy and trade woes with China. However, there is one comparison between the crypto and stock markets, things can change for the good or worse in a hurry.
Stable coins are looking good now to keep funds on par with the USD or a country's currency where they can be exchanged for BTC when there is a Bull run.
There's not a lot of movement with Bitcoin these days. I'd like to see a sustained Bull run but not in the cards currently. Telegram is back in the news with it's token, Gram ... asking the court that the US SEC played foul and to drop their block. Not sure how that will work out, going head to head with a US department. Doesn't usually end well. Won't know about that until February of 2020.
The impeachment process is under way against Trump. Republicans have the majority when it comes to vote. Will they back him despite all the issues piling up?
Diversity Club sent me USD and I purchased once again. Only new thing is that Sunday is a day off for processing withdrawals. Otherwise ... business as usual.
Remembrance Day in Canada
Veterans Day in the United States
Bitcoin is taking a dive in price so far today. During these times I'm thinking 'Trade' low and sell high (or when a possible daily peak occurs). What triggered this sudden drop is unknown at this time but educated guesses usually follow on the crypto news. The recent high occurred on October 28th ... $9578 USD and BTC has been dipping ever since.
Sanze Profit , I joined via Diversity Fund, issued me a quick USD payment.
Tax ... in a couple months and in the new year, some folks are thinking about tax time once again. Investors usually plan ahead for the impact their stock earnings may have.
With Crypto, I read a month or so back, the IRS has added a form for reporting crypto income as if tax prep wasn't complicated enough. In Canada, the CRA says you should report any income not included in the tax slips (T4's for example) including crypto. Still kind of a grey area but knowing the CRA, they will address that more in the coming years. For example, if an individual sold Bitcoin for cash and routed the funds to their bank account. Stands to reason, that's income. So, lots of calculatin' for those with multiple sources of income from the stock and crypto markets.
California on fire again, Trump and the impeach proceedings, Canada's Federal Liberals with a minority government attempting to cut a deal with other parties to get their policies passed are among top stories these days. Lots of news.
In Crypto land, a second exchange in British Columbia had gone toast and BC SEC agents have taken over Einstein Crypto Exchange to sort things out and hopefully return 'coin'/funds to members to the tune of around 16.3 million CAD.
It's wise if your looking at exchanges/wallet providers to search the top listed in the world, how long they have been operating, their market cap and any issues such as frequent Hacks, missing coin or any funny business. To date, Coinbase, Blockchain.com/The Pit and Kraken have been excellent with my experience.
While the top coin in the crypto market share, Bitcoin ... stays below $9500 USD, Telegram has made available it's TON wallet for 'testing' despite the holdup with the US SEC and a possible settlement in February of 2020. Initial investors bought gram above the 30 cent range. Next year, these investors hope for a smooth launch and a boost in the price of the gram for gains on their investments.
Diversity Fund sent me USD funds and had a previous week's gain of 8.2%. A tad higher than normal to celebrate 3 years online.
Here in Nova Scotia, it's quite the start to November with near 20 degrees C. We're getting spoiled before the coldest part of the winter starts in a couple months.
Bitcoin ... now that crypto outfits are offering different invest options as well as the traditional 'Trade', they are only so good as their 'scripts' and 'security'. If there are script errors, which happened yesterday with 2 sites that lowered the price of Bitcoin by mistake (down $1500 USD in one), that sets off a panic in selling all over the world if not corrected quickly. Shouldn't happen but have to expect that now with the crypto market where there are so many competing sites with flaws in their programming. A similar incident happen a few weeks back causing a big drop in the BTC price.
The BTC in my Wallet grew this morning from a payment via My Passive Trades.
In the crypto world it's all about China these days as they brought in a new cryptography law and encouraging Blockchain development. Korea has also followed suit. Trading has been illegal in China since 2017 but investor interest is currently high over Blockchain related companies.
For sure it will be highly regulated in China and government controlled which is the 'norm' now around the world compared to back when Blockchain and Bitcoin were the 'wild west' of Fintechs.
It's a time to be be careful out there as well where there's daily news of scams with the odd one caught that didn't get away plus the hacker leeches that are on the hunt daily to steal someone's or some company's wallet(s) full of 'coins' either thru a cellphone. laptop or desktop.
Halloween is approaching and then it will be full bore into Christmas with the retail and online shopping sites.
Bitcoin is holding around the mid 9 grand USD so far today. Predictions are varied and I figure BTC is staying higher after the China news. Personally, I think China's motives are about prepping for their own digital coin coming soon and wonder if that will eventually shake up the Trade and Oil business in the future with the underlying USD.
Diversity Fund ... over 3 years in operation now after their mid October anniversary. Meanwhile, I received a USD payment and maxed out my $25 positions (20% gain each at expiry). I moved on to buying the $50 spots with the 25% profit each.
For Bitcoin holders, last week ended with a big spike of around $1600+ USD after China's President Xi welcomes more opportunity for the 'blockchain' and China is passing a new 'Cryptography' law to spur interest in crypto within his country. Always expect the unexpected with the 'coins'.
On my Tickers and Trending page I got sort of a Timeline update going on about the Facebook Libra and the Telegram 'GRAM' sagas where they hit a wall with the US Feds making these mega rich outfits rethink and delay launches for their 'coins'.
Bitcoin fell somewhere around a thousand US dollars in value starting a couple days ago, with the most of the drop happening yesterday in about 15 minutes. It appears BTC has bottomed out once again and beginning to climb in value some today.
In the last Canadian election, it was about the Liberals and the 'guy with the nice hair', Justin Trudeau.
With the federal election held yesterday, the Liberals won again under Prime Minister Trudeau but with a minority Government this time.
Into the crypto market comes a growing mix of investments like Futures and an interesting mix of Forex/Crypto trading. ETF's in the US continue to be denied by the Feds but some will eventually be legal.
Exchanges and Wallet providers offering a 'savings type' interest rates on a member's Bitcoin either for set terms or cashable.
Lots of investment options for the 'coins' these days.
Big Investor completed Bitcoin withdrawal transactions to my external Wallet this morning.
Here's a decent article about what's happening with Bitcoin at 18 million coins 'mined' ...
The Vote for the next Federal Government will be held tomorrow across Canada. The ruling Liberal party has a slight edge over the Progressive Conservative party in the polls so far.
Some speculators figure Bitcoin & Altcoins are moving (or not moving) with the times such as the economic slowdown in the US and China dragging other countries down with them. The issues with Brexit. Probably the news about possible dominating tokens coming but hung up by regulations until next year such as Libra and GRAM.
That 'keep it in cash for now' mindset with a lot of investors is keeping things fairly quiet.
My Passive Trades increased my profit margin with a Bitcoin payment sent yesterday.
Coinbase was one of the 15 companies that attended the first 'charter signing' meeting for Libra (Facebook's coin) in Geneva. Apparently, the entry fee is 10 million and the Libra Association plans to have a hundred joined in the future before the planned launch next year.
Coinbase will host Libra I'm sure if all goes well. Thailand has already welcomed the Facebook coin to their country.
With more Coinbase news, Bermuda is accepting the USD Coin (USDC) as tender for paying taxes, etc.
A sign crypto is being more widely accepted as this market ages with the aim to move currencies quick and with low fees.
Meanwhile, Bitcoin fell in price so far today from around $8300 USD.
Sanze Profit sent me USD yesterday in quick fashion operating for over three months. Another site I joined via Diversity Fund.
Happy Thanksgiving Canada
In the NHL, the Montreal Canadiens with a few new faces are at 6 points out of a possible 10 in 5 games to start the season. They look to improve on that point total tomorrow night at Tampa Bay.
Federal elections are heating up here in Canada with no clear winner in the polls at this time between the ruling party Liberals and the PC's.
Bitcoin has gone from a near flat line in Trading for awhile to spikes like getting shocked from a pair of defibrillator paddles but mainly hanging on to where it was yesterday in price.
October Thanksgiving Sunday
Bitcoin had a spike in the last 24 hours to just shy of $8500 USD for an improvement in price. BTC is the 'original' coin and remains highest in Market Cap.
For those who are Bitcoin fans, could be good news to keep it's place as top coin where more big name sponsors of Facebook's Libra have dropped out such as Visa, MasterCard and eBay. As I mentioned yesterday, Telegram's GRAM is also on hold for now in the US. Unsure about Internationally at this time and
how it will play out with these two mega rich outfits is a mystery.
A rare time where being rich for the owners isn't opening the doors they want ... yet.
Everything after Bitcoin is essentially a copy cat in different forms and blockchain/ledger types with huge companies now like Facebook attempting to take over not only the crypto market place but cause ripples thru world banking in general. The reason governments are wrapping it in red tape and throwing up road blocks.
Back to the USD and Diversity Fund sent me a same day payment as I continue to build on my positions with that venture.
Approaching mid October and the long Thanksgiving weekend here in Canada, the weather remains mild with more rainy days lately.
In crypto land, Outfits should now know they have to register in the United States when introducing a new coin or run into 'trouble' with the US SEC, specially being used as a security.
The US SEC is raking in a ton of cash in fines after investigating these type of crypto based businesses that don't go through the register process.
Telegram has a stop order now issued by the SEC where in the US alone, 1 billion of their token GRAM was sold. They'll have to pay a huge fine I'm sure and file the proper paper work, if they follow through.
Coinbase is all set to introduce the GRAM set for the 31st of October but there could be a delay now.
Just before that, 24 million dollars in fines in a settlement for Block.One and their coin, EOS.
“We have repeatedly stated that issuers cannot avoid the federal securities laws just by labeling their product a cryptocurrency or a digital token. Telegram seeks to obtain the benefits of a public offering without complying with the long-established disclosure responsibilities designed to protect the investing public.”
Big Investor revisited. The venture continues to send me Bitcoin payments to add to my gains. My usual approach is to fund with around 50% of what I get paid specially after I'm in profit.
How things have changed with flying these days. When I used to book a flight, I know I was allowed two suitcases not over 50 pounds each and could pick my seat online or when I got to the airport.
These days, hmmm ... that flight is cheaper than it used to be. Great!
Before paying, I always go through the motions to see what the total is. When booking a seat, I clicked on the available window seat I wanted. Not happening until I pay a fee twice for going and coming. And, they don't have to honor that seat with no refund for the seat fees at the discretion of the flight crew. So, when you arrive at the airport now, they select a seat for you if you didn't pay the fee. If your a couple or family on a holiday, more than likely be sitting apart.
Ok, that's new and nuts. All luggage is also a fee. Pay going and pay again for coming back. Suddenly that cheap fare is not a deal anymore. Just to be aware so your not wondering why your getting triple billed plus the airport fees on top.
Apparently this has become a cash cow for airlines using this structure. The ol' hidden fees behind the initial price trick.
Bitcoin started moving up yesterday bring up other Altcoins with it. Looks good in the crypto wallet.
Looks like Facebook is scrutinizing certain types of Biz's and the people who Admin/Monitor 'Groups'. Requesting information to see if all is kosher with them.
Perhaps a cleansing on their part where the US Gov't continues to probe their operations since the past member data 'selling' issue came up plus extra pressure with their new coin 'Libra' launch that PayPal recently stepped out of as a 'backer'. Who needs unwanted government watchdogs and G Men sniffing around in their business eh.
Diversity Fund is nearing 3 years in operation this month. Only a hand full of ventures in that category can duplicate that milestone without a hitch.
Starting the first full week in October, the crypto scene remains fairly flat still if your a Trader or bought Bitcoin when it was up around 10 grand USD until the 23rd of September when it went into a rapid decline in price.
Usually after BTC bottoms out, like it is now ... a 'Bull run' occurs driving the price back up but not happening this time. Because of this current trend, trading on exchanges is probably in lower volumes causing outfits like Coinbase (Coinbase Pro only) and Kraken to hike trading fees some.
This caused some backlash on fee hikes from customers where trading margins are smaller for now and fees are suddenly getting higher, cutting into any gains made. Hopefully that will reverse soon for those involved.
I enjoy Trading but where there's an uncertainty where 'coins' are heading these days, I hold and wait.
The NHL season is underway and My Boys, the Montreal Canadiens lost a close one in OT to Carolina to start their season. Gained a point and now off to Toronto to play the Toronto Maple Leafs next on Saturday.
Coinbase is now offering an interesting option for US based members. Holding the stable coin, USD Coin (equal to 1 USD each) earns an interest rate of 1.25% yearly. The Coinbase Blog article 'Here' explains the details.
Works similar to a Bank, Yearly percentage, calculated daily and added monthly. Considering your average bank is around .05% per year.
The weather remains mild here in Nova Scotia where I can take off the light coat by mid day. T Shirt weather then until the sun goes down.
Bitcoin has moved up some to start October but that looks like a 'high' for now. Bulls and Bear in a tug of war these days.
This Fall ... in the crypto world, Bitcoin has a history of moving up at a steady rate in the fall but things are different this year. More legislation and the FOMO, Fear Of Missing Out needle is stuck on low in that scale for now.
In the Stock world, everything was going rosy in 2018 until last fall where an unexpected down market dragged down a lot of stocks depending on the category causing the usual panic selling. The rebound was quick though heading into 2019.
This fall, some may feel that fear coming on again and sell, not wanting a repeat but with the equities, the calm and those that ride out these dips come out ahead where a rebound has always happened.
But as always, that's based on history and may not happen before Christmas.