A Bold Prediction? Maybe more like an investor’s Opportunity. Feel the fear in the “markets” today? How will you use that fear?
An immediate 25% drop in price = a discounted buying opportunity. … in ANY nominally-utilized asset class. But especially in immutable worldwide currencies.
Today the markets dropped (crashed?) over 10%. Bitcoin crashed down 25%+ (it’s currently still dropping as I write this and more than half of where it was 30 days ago). Oil is dirt cheap at under $30 per barrel – I bought premium gasoline for $2.79 per gallon.
So, what have you done? Did you let fear motivate you to sell some of your stocks? Or hoard a few groceries in your cupboard? That’s ok. I don’t judge anyone for these things. These kind of fear responses are what sometimes saves us in a tough spot. But I do want to use your answer to help motivate you. To allow you to use your fear for something that benefits you. Now is your chance to use that fear for a longer term investment without fear – or without as much as you may have previously had when the market was at all time highs, or #bitcoin was at $10k or $20,000. Or before this new virus gripped our nation… Just do one thing today. Invest in something today.
Anything. I don’t care what, as long as the price today is at least 10% less than it was yesterday. I’ll start with whatever pennies I can scrounge together from a few Apple shares I sold. Then I’ll invest a little more time with my twin daughters, looking them in the eye and just being present. What will you invest in today? #BTC?, #bitcoin?, #Litecoin?, #Apple ($AAPL)?, #microsoft?, you name it. Just do it. #blockchain companies, currencies, – not hand sanitizer unless you’re going to make your own.
On that note, maybe today is a great day to start your own business.
I told you it’s a good day. You may just be able to look back on it and say that.
Yes, it’s true. Anyone who wants to can get in on some Bitcoin at a potential giant discount to market. Well… only those with already deep pockets, that is.
Here’s what the US Marshals .Gov site posted just this week.
Washington – U.S. Marshals Holding Bitcoin Auction Approximately 4,040 bitcoins to be sold. $200,000 deposit required by Feb 12, 2020. Contact U.S. Marshals Office of Public Affairs (703) 740-1699
That’s right, The U.S. Marshals are auctioning approximately 4,040 bitcoins “in connection with various federal criminal, civil and administrative cases” their press release reads.
In order to bid, potential bidders must complete all registration requirements by Feb. 12 and submit a $200,000 deposit (in U.S. dollars of course) which is required to simply participate, though all bidders except for the winner will have their deposits returned according to the release. Pre-registered bidders are the only ones whose bids will be accepted, and those bidders will be a part of a 6-hour “Sealed-bid” bidding session on February 18th.
According to the USMarshals.gov site, the winning bidder will be notified Feb. 18, also implying that only one bidder will win and thus there is only one Lot consisting of all 4,000+ $BTC up for auction. #Hodlers of #BTC during the climb of 2017 may remember other US government auctions of seized Bitcoin, all but solidifying that the #cryptocurrency was legitimized by the US Marshals and more importantly by the Internal REvenue Service (#IRS) simply by the nature of a government entity selling and receiving US dollars for the asset. Here again, and recognizing that the IRS has since 2016, offered taxation guidelines for owners of the currency to submit taxes on profits, the crypto seems to be legitimized as a tradable asset in their guidelines and dockets.
Further details on the auction are available posted on the site and in the press release at www.usmarshals.gov/assets/2020/febbitcoinauction. According to the site, the Department of Justice Asset Forfeiture Program is a key component of the federal government’s law enforcement efforts to combat major criminal activity by disrupting and dismantling illegal enterprises, depriving criminals of the proceeds of illegal activity, deterring crime and restoring property to victims. The U.S. Marshals Service plays a critical role in identifying and evaluating assets that represent the proceeds of crime as well as efficiently managing and selling assets seized and forfeited by the DOJ.
Now, it seems to us there are just a few more questions that arise here than are answered.
Does the IRS, thus the US government still consider Bitcoin an asset?
Does the one-bidder-takes-all model seem fair to you or average US citizens or does it favor hedge funds, whales, and institutional money only?
Should the auction be broken down into varying lot sizes allowing for average retail consumers to be a part of a government auction, one that their tax dollars help fund?
… more question below, but first…
We’d love to hear your thoughts. Noting some of these concerns however, in a more detailed read of the most recent updates on the site, it turns out there are 4 total lots up for auction, each of varying size. AND, to the sured delight of the #twitterati and the #cryptotwitter followers, WHERE and WHO each of these lots was seized from is now listed on the US Marshals site (and below).
FEB 18 AUCTION includes seized assets as outlined below:
United States v. Tyler Lee Ward et al., (Case No. 18-cr-438) United States v. Ryan Farace (Case No. 18-cr-00018) United States v. Matthew Lee Yensan (Case No. 17-cr-00303) United States v. Alexandre Cazes, et al., (Case No. 17-cv-00967)
United States v. Ronald L. Wheeler, III (Case No. 17-cr-377)
United States v. Konrads Voits (Case No. 17-cr-20689)
United States v. Seth Bangert (Case No. 19-mj-00073)
United States v. Donte L. Gibson, et al. (Case No. 18-cr-094)
United States v. Gal Vallerius (Case No. 17-cr-20648)
United States v. Darcy Wedd (15-cr-00616)
United States v. Sky Justin Gornik (17-cr-2796)
United States v. Matthew Mulford (Case No. 19-cr-028)
This sealed bid auction for 4,041.58424932 Bitcoin separated into four series:
Series A (5 blocks of 500 Bitcoin) and
Series B (10 blocks of 100 Bitcoin) and
Series C (10 blocks of 50 Bitcoin) and
Series D (1 block of 41.58424932 Bitcoin).
You will not have the opportunity to view other bids. You will not have the opportunity to change your bid once submitted.
Final questions for this reader…
4. If the deposit was not a concern, would you buy Bitcoin from the U.S. Government? If so what’s the right amount, or too much?
5. Is this yet anothe rway for the US Gov to make money at the ‘expense’ of its people while making it harder and harder for US citizens to own, purchase or pay taxes on the same asset?
6. What questions does this all bring up for you, good Hodler?
Nelson Wells is a CEO, a single dad of twin daughters, a cryptocurrency hodler, a believer in the long term world-redefining power of blockchain. Reach out & follow him at Clermont1
(Today 2020) Well, I wrote the following article over a year ago, mid March of 2019, and my numbers were mostly spot on. For the month of April 2019, Bitcoin’s price averaged $4,836.79. Here just 4 days from the halving bitcoin is at $9,433.16 according to Coin Market Cap, and almost exact doubling in price from one year ago despite it’s large dip to the $3,000’s just weeks later in May of 2019.
The top countdown clock counts down to the actual halving at the 210k block late May 11, early May 12th. The bottom clock was my year-out prediction of a price doubling as we approached the halving with a peak price just 3-5 days prior to halving. I’d say it’s right on the money. Now let’s see if my prediction of a slight correction comes as non-Hodlers sell off near $10k and BTC price stagnates for 8 months as it did after the previous halving just before it ran up new bull market highs straight through 2017.
Who’s gonna call me out, correct me or give me that “Atta-Boy, Nelson” down below? shhhh, I predict no one. We have a damned pandemic on or hands and minds. Best of luck and love to you all, friends. These are strange times indeed. – I”m out. – Nelson
Original article of March 2019.
Our Bitcoin halving countdown clock is on and counting backwards to May 7, 2020, the date I predict the price of Bitcoin will be doubled it’s current $4,800 average and just 4-5 days prior to the point when the blockchain will reach the next halving. I predict $BTC will be more than double its year previous price per coin at that point and if similar to the previous halving in 2016 the price will correct by 15%+/- for the following months. [Share our clock or copy our code and embed it yourself]
If you’d like to see the countdown clock from respected exchange company, Binance, you may do so here, https://www.binance.vision/halving. Binance predicts the having will occur 3 days later than my prediction on May 10, 2020.
Atlanta Digital Currency Fund’s chief investment officer, Alistair Milne, has said that the block reward halving of Bitcoin could push the price of the dominant cryptocurrency to massive gains in the next 12 months, or any 12 month period leading up to the halving.
Do YOU believe Milne’s claim and basis? If so tell me why, and if not, let’s hear it. Personally, I believe the greatest gains to Bitcoin’s value will come in the 12-24 months AFTER the halvening event. By the way, what this date represents simply is the day the “reward” for mining one full block of Bitcoin on the blockchain will drop from 12 BTC to 6.5 BTC per block which miners get to keep for creating that block. This is how miners create “income” by running their very expensive computers 24-7 and racking up the electricity bills that go along with such “hash power.”
The halving occurs each time Bitcoin’s block height reaches 210,000 blocks, or approximately every 4 years. See the chart below from Binance for an outline of when havings occur and what rewards change to.
According to an article in CCN Friday March 8, 2019 titled, “Bitcoin’s Impending ‘Halving’ Could Spark Meteoric Price Boom,” the impending ‘halving’ could lead to these massive gains.
Bitcoin’s May 2020 halving could lead to a meteoric price boom for the flagship cryptocurrency. | Source: REUTERS / Dado Ruvic / Illustration / File Photo
Bitcoin’s Impending ‘Halving’ Could Spark Meteoric Price Boom
A block reward “halving” in Bitcoin is referred to as the mechanism that decreases the amount of Bitcoin generated by miners after mining a block.
On the Bitcoin network, the blockchain, miners solve complex cryptographic problems using computing power to process transactions, which are then placed in blocks to form a blockchain.
To compensate miners, every block generates a fixed number of Bitcoin to “pay” the miners for serving the community and running the nodes which create the blocks, and this “mine” the cryptocurrency “coin.”
The block reward, or fee to miners, of the Bitcoin network decreases by half for every 210,000 Bitcoin mined. Traditionally, a block reward halving like this has led the price of Bitcoin to rally because it reduces the rate in which new BTC is produced.
As Bitcoin nears its fixed 21 million supply, the scarcity of the digital asset increases, which boosts the price and the demand from the market.
Historically, the Bitcoin price has tended to move a year before the block reward halving. While a few analysts claim that the halving is already priced in, the numbers show that it gradually gets priced over time, and even accelerates, as the cryptocurrency approaches its halving date.
See the related article by cryptocurrency author Joseph Young of Bitcoin Analysis, Bitcoin Price News at CCN.com
Meanwhile, leave me your comments and thoughts on where (and why) you think Bitcoin, Litecoin, Ethereum and other cryptocurrencies are headed into 2020 and beyond.
Yes, here below is some new video of the Midengine (mid-engine?) Corvette Running Around California, captured and edited by none other than the venerable Raphael Orlove. Chevrolet has officially tagged it the C8 vette, and they’ve even so much as labeled the #C7 #Corvette Stingray as “the Final Edition” as witnessed at Horsepower Obsessed.
The Midengine Corvette is already burdened with the curse of being an expensive American car. That means it will go on auction early in its production run, and Boomer money will pile onto it and relegate the thing to “collector” status before a tire ever hits the road.
Are you one of these guys who’d like to snatch one up and let it sit (mostly) and gain value? If so, we don’t judge, just tell us below! Inquiring minds wanna know.
Regardless, from a driver’s standpoint, the car shouldn’t be trapped in a garage. It shouldn’t be forced to live out its life in a climate-controlled prison, waiting for the day that it can come back up at Barrett-Jackson with LOW MILES EARLY SERIAL NUMBER NUMBERS MATCHING COLLECTOR’S EDITION.
I say this because here’s a collection of a pre-production prototypes out in the snow and slush and sleet on a twisting California mountain road, the kind of place a traditional Corvette driver would look at and resolve to stay inside and grouse about while soaking in the hotel hot tub… – see more by Raphael Orlove
For the full article go to Jalopnik and share and give Orlove and Jalopnik some car enthusiast love.
I don’t claim the rights to this article or any post from other sites; I’m simply a fan and enthusiast myself who likes to share and get word out on rare, collectible, unique, or otherwise hard to find or appreciating well-loved cars that are classics or soon-to-be-classics. Occasionally I post them here at nelson-wells.com .
For other Classic car info or posts on Pontiac GTO’s, E39 BMW’s, Bimmer wagons, or too many timeless classic Toyota Land Cruisers, see my other posts below or on my blog. – Nelson Wells, Athens, GA