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SS: what do i know about bitcoin ?? well i do happen to know a little bit about bitcoin. i have been watching it for a year now. when i say watching it i mean watching all the news and the prices just like i do with gold and silver. i sometimes don’t say anything about some things until is the right time. not sure if this is the right time or not really.

SS: what is bitcoin crashed from it’s highs at over $1000 down to $200 ?? that is probably a question on everyones mind. well for one thing 1600 new bitcoins enter the market daily through mining. have a look at the inflation in bitcoin:

3600 mined coins a day = 25200 bitcoins mined a week
25200 mined coins a week = 1310400 bitcoins mined a year

SS: some will argue that new bitcoins entering the market do not have an effect. i don’t know for sure whether they do or not. however there will only be 21M bitcoins…ever. once 21M bitcoins are mined then that is all the bitcoins that will enter circulation. 13,747,900 bitcoins are in circulation today as of this writing. we are currently mining 1,310,400 bitcoins a year…….until 2016 when the reward halving will happen. ATM the reward for mining bitcoins is 50 bitcoins per block solved and after 2016 that reward will be halved.

SS: is this the reason for the bitcoin slump ?? i am not sure about that. it could be the bitcoin bears and bearwhales who have been shorting bitcoin using leverage. it could be a combination of the two. however bitcoins can sometimes move very fast when it decides to move.

SS: the purpose of this blog is to shine a light upon bitcoin before anyone decides to buy bitcoins based upon my tweets or anything what i am doing. here are the very basics: …… A: only buy what you can afford to lose. B: do not leave your coins on an exchange that you do not need on the exchange. C: keep all coins in ‘cold storage’ that do not need to be on an exchange. ……. those are my three main rules for bitcoin. you must follow these rules or your risk is much greater.. if you cannot handle those three rules then you should maybe buy gold and silver instead. or go buy stocks and other paper @ATH’s . buy high sell low.

SS: if you are a whale … bearwhale or bullwhale … you need to be careful… there are many whales out there who got bitcoins early and others who bought loads of them because they have a lot of money. a whale can move the market but there are the ‘four punch raiders’ who love to slaughter the whales. especially bear whales. i know because i have seen it more than once happen. i have seen the bear whale below be slain and others like him. if you are a bear whale then all fundamentals (the hammer time) suggest that you will be caught in a massive short squeeze by the ‘four punch raiders’ .. save yourself the grief from the news like the news below … and you should know by now what time it is .. “when is blood in the streets it’s time to buy” .

NYSE Completes Minority Investment in Coinbase Released : 20 January 2015 NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, announced today that its wholly-owned subsidiary, The New York Stock Exchange, has made a minority investment in Coinbase, a leading bitcoin wallet and platform with over 2.1 million consumer wallets, 38,000 merchants and 7,000 developers.

THE SLAYING OF BEARWHALE Hallowed Day – On October 6, 2014, one of the grandest and most brutal struggles ever to grace the tapestry of international crypto-finance occurred. The day before, after several weeks of sinking prices had capitulated in a bear assault, the enemy’s most formidable foe emerged. It was a beast rumored to exist, but never seen in its natural, grotesque form. The BearWhale, a mighty creature with a 30,000 BTC ask wall (roughly $10 million), stormed out onto the battlefield. Bulls small and large were crushed under its immense weight. The very Spirit of Bitcoin could be felt buckling beneath the pressure of this immense market soul-crusher. But Bitcoin was not broken that day. A grueling struggle ensued, and over the course of several hours, the entire BearWhale ask wall was demolished, satoshi by satoshi. The vigilant light of a future without fiat inspired the bull soldiers to conquer this foe, or die trying.

Bitcoin prices are collapsing almost as quickly as they originally skyrocketed. The average price of Bitcoin fell below $200 on Wednesday, continuing a months-long decline that has pushed prices back down to the lowest level since October 2013. The recent drop comes on the heels of the news that Bitstamp, a bitcoin exchange, reported that its wallets were compromised and had to temporarily shut down services. Bitcoin prices fell below $300 last week and continued to skid. (Mashable Screenshot)

The price of Bitcoin may be dropping, but funding continues to roll in for startups working with the digital currency. Coinbase , a startup that provides a digital wallet for buying, selling and storing bitcoins, announced Tuesday that it raised $75 million in a Series C funding round from a list of big name investors including, in a symbolic boost of confidence, the New York Stock Exchange. The company said in a statement, “Today’s fundraise gives us solid growth capital to continue driving mainstream, global adoption of Bitcoin.” (Mashable Screenshot)

A mock Bitcoin is displayed on a table in an illustration picture taken in Berlin January 7, 2014. REUTERS/Pawel Kopczynski

Should we blame bitcoin for illegal activity? Naomi Brockwell and E.J.Fagan debate. More from “Trust” Thursday, 9pm ET on Fox Business. (Fox Business Screen Capture)

A mock Bitcoin is displayed on a table in an illustration picture taken in Berlin

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