In 2011, I went all-in into bitcoin.As I described in a blog post at the time, I took all my savings and my entire credit line and put it into the fledgling currency, once I had realized its disruptiveness, and I did so at about $3 valuation (to simplify events a bit).People mocked me relentlessly.I tend to be good at predicting events five years out that the large majority considers unforeseeable black swans.I’ve done so twice now for particular high-profile events: once when founding the Pirate Party – which was a “career ending decision” according to some colleagues, until I had succeeded wildly in what I had set out to do, sending people to the European Parliament on basically no budget using a novel set of leadership techniques.The other time was when I predicted the massive breakthrough of cryptocurrency in 2011, and said I predicted bitcoin to increase in value hundredfold-to-thousandfold over the next three to four years.(Do note that the actual breakthrough has not happened yet.)

In both these cases, people basically said I was mad, even though I made no secret of going all-in into bitcoin — I’m not the “haha, I got rich five years ago with my secret method” type of person.Rather, I announced to the entire world that I was going all in, and being very specific about my reasons, giving anybody who wanted the ability to copy my actions.(A lot of people did; I get people coming up to me today saying I got them into bitcoin with these posts.Good for us, good for all of us.)A key to these kinds of high-risk decisions, of course, is to trust your own intelligence and judgment when you know you’re going against the grain and against common wisdom.If you try to do something halfway, it’s the equivalent of taking the average between two sidewalks and walking in the middle of the road.I quickly lost count of how many times various well-meaning people told me to “sell and collect profits and come out ahead” – but that simply wasn’t the analysis I had made.

Most people didn’t even try to be well-meaning, but instead had fun at and mocked my decision to go all-in outright.To illustrate this, this is the highest-voted comment — not a random comment, but the highest-voted comment — from the Reddit thread six years ago when I announced I was going all in.Particularly note that this is a comment made by, and voted to the top, by bitcoin enthusiasts.It’s quite funny in hindsight, actually, that even the people who were most devoted to the technology expressed themselves like this at the time.In any case, as a followup to the original post, I just wanted to highlight that it reached the target I predicted.I was, as people say, right on the money.Or maybe I should say that bitcoin reached the first target I predicted.Today, I refrain from making predictions for bitcoin until scaling is properly resolved with good engineering, and the obstructing company Blockstream has been kicked out of the community; the currency really has no future until this event has taken place as Blockstream has negated all the utility I originally pointed out through insanely tone-deaf non-business, but cryptocurrency as a whole remains extremely disruptive, be it the first-mover variant (bitcoin) or a second-mover variant.

If you love Blockstream and/or Bitcoin Core, but started doing so after I went all-in, I would urge you to consider the rational possibility that my analysis holds water this time too.bitcoin itu untuk apa(Oh, and the market cap total for cryptocurrency just hit a hundred billion US dollars.ethereum conversionAnd it’s still just the beginning.king of bitcoin pdfWhen cryptocurrency is ready, it won’t make sense to measure it in US Dollars any longer.)litecoin price riseMarkets Weekly is a column analyzing price movements in the global digital currency markets and the technology's use case as an asset class.track bitcoin transaction id

The hype surrounding Zcash faded in the week through 3rd November, with the new digital currency's prices suffering sharp declines early in the week.mil anuncios bitcoinOn its 28th October launch, the ZEC/BTC currency pair reached roughly 3,300 BTC (more than $2m), but fell to below a value of 1 BTC by 30th October, Poloniex figures reveal.first bitcoin lawsuitThe pair then mounted a recovery, rising to 3.58 BTC on 31st October, followed by another sharp drop to 1.29 BTC by 4th November.6 ths bitcoin minerMarket analysts reported that this was the result of a decline in trader interest as supply for the new token, at first exceedingly rare, increased.bitcoin eth walletPetar Zivkovski, director of operations for Whaleclub, noted that Zcash now needs to "find its utility, grow a developer network and develop a support network" before it can be taken more seriously.

"Its market cap is just a few million dollars and there is so little supply that price discovery has not yet happened."But while the digital currency’s supply is low for the time being, it is "increasing quickly", according to Arthur Hayes, co-founder and CEO of leveraged bitcoin trading platform BitMEX.He went on to speculate as to how a new influx of ZEC will affect price going forward, telling CoinDesk he believes a bubble in the market is deflating."By year end, I expect the price of Zcash to be below 0.10 BTC," he said.ZeroHedge, citing Bloomberg sources, reported that China's government is looking into potential capital controls for bitcoin.An article appearing on Bloomberg Terminal also provided similar reporting.Zivkovski weighed in on how this development (combined with a handful of market factors) could drive a notable downward movement."This catalyst combined with smart money eager to cash in on the multi-month price rise and a highly leveraged long market ... caused the sharp declines we witnessed today and yesterday," he said.

While these variables provided a reasonable explanation for bitcoin’s price movements, more than one market observer expressed skepticism about the rumor that the Chinese government was looking into imposing capital controls on bitcoin."I don't think even China could successfully implement capital controls on bitcoin," said bitcoin hedge fund operator Jacob Eliosoff."It would be like banning sending prime numbers."He added that: "What they could do much more easily is shut down the Chinese exchanges."Hayes told CoinDesk that he doesn’t place "any truth" in the rumor involving the Chinese government placing restrictions on the trading and ownership of bitcoin.He further voiced his doubts about such a policy change, as any such move "would be made very clearly through official channels."Beyond that, he asserted that the size of bitcoin’s market cap means that the digital currency is "not a relevant channel for money escaping China."After moving lower in the first half of the week, prices for tokens on the alternative ethereum blockchain, ethereum classic (ETC) remained calm, even though market observers voiced concerns about the technology's long-term viability.

More than one expert has expressed concerns that ethereum classic, which came into existence when the original ethereum blockchain experienced a hard fork, might have a hard time remaining viable in the long-term.Zivkovski asserted that ethereum classic lacks both a support network and a "thriving" developer community, though there are signs the group is becoming better organized.Eliosoff took a different view, emphasizing that digital currencies need potential users, and he sees "zero evidence of a user base eager for ETC."However, Hayes provided a more optimistic assessment of the blockchain and its potential, stating that there are "very many committed" people and organizations involved with the digital currency, especially in China.As a result, he offered a bullish prediction for the currency."I think ETC is due for a pop in price," he told CoinDesk."It will happen when the majority of people believe it has died."Roller coaster image via Shutterstock The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.