Author Topic: Game: Convince the skeptic - Bitcoin  (Read 3799 times)

Fat Pitch

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Re: Game: Convince the skeptic - Bitcoin
« Reply #10 on: November 21, 2017, 01:44:02 PM »
"If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry." -Satoshi Nakamoto

Worked from 5 cents to $8.3k
Where Seeking Out Risk Adjusted Return is our Passion!


SharperDingaan

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Re: Game: Convince the skeptic - Bitcoin
« Reply #11 on: November 21, 2017, 02:08:44 PM »
Bitcoin inflation pays for the miners, up to the design limit of 21M coin; thereafter there is supposedly no inflation because miners are paid in cash (via token that the digital wallet already possesses). As we get closer to 21M total coin - the rate of inflation (miner fees) supposedly declines to zero. Under the current plan.

The coin was designed for use an alternate 'medium of exchange' - but is actually used as an asset; and will be even more so, as soon as bitcoin options, futures, and syndicated loans become available. Most folks would argue that 21M coin will be insufficient for the need, and that the design limit will need to increase to something a lot bigger. Inflation.

Bitcoin at USD 50,000 is achievable because the supply of bitcoin for sale is very limited relative to the demand; and as with a BRK share, few can afford to purchase. The solution is a share split that creates more affordable Baby BRK's - for Bitcoin, a material increase in the design limit. 

All fiat currencies get inflated, & it is largely why we create them - Bitcoin just does it a different way.

SD

         

SharperDingaan

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Re: Game: Convince the skeptic - Bitcoin
« Reply #12 on: November 21, 2017, 02:14:19 PM »
"If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry." -Satoshi Nakamoto

Worked from 5 cents to $8.3k

Sir, "if you have to ask the price, you can't afford it.  :)
May we suggest that 'other' alternative currency across the street from us"

SD


bargainman

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Re: Game: Convince the skeptic - Bitcoin
« Reply #13 on: November 22, 2017, 02:27:02 PM »

Bitcoin at USD 50,000 is achievable because the supply of bitcoin for sale is very limited relative to the demand; and as with a BRK share, few can afford to purchase. The solution is a share split that creates more affordable Baby BRK's - for Bitcoin, a material increase in the design limit. 

All fiat currencies get inflated, & it is largely why we create them - Bitcoin just does it a different way.

SD

       

you don't need to purchase whole units.  Satoshi units will do.
https://en.bitcoin.it/wiki/Satoshi_(unit)

Value^2

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Re: Game: Convince the skeptic - Bitcoin
« Reply #14 on: March 27, 2018, 11:49:31 PM »
Small-cap Longfin soars 2,000% after acquiring blockchain company Longfin Corp. CEO Venkat Meenavalli Interview  ;D

Here is article related to Longfin.

By March LongFin had become one of the largest companies by market capitalisation outside of the traditional American stock indexes, valued at $2.8bn.
https://ftalphaville.ft.com/2018/03/23/1521820767000/FTSE-Russell-gets-in-a-tangle/


« Last Edit: March 28, 2018, 12:04:29 AM by Value^2 »

Value^2

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Re: Game: Convince the skeptic - Bitcoin
« Reply #15 on: June 09, 2019, 07:26:31 AM »
Small-cap Longfin soars 2,000% after acquiring blockchain company Longfin Corp. CEO Venkat Meenavalli Interview  ;D


Update:

Longfin CEO indicted on securities fraud charges


The chief executive of Longfin Corp, a US small-cap that listed in 2017 at the height of the blockchain mania, was indicted on Wednesday on federal securities fraud charges.

Venkata Meenavalli, 49, was accused of falsely reporting $66m of “phony revenue” using fraudulent documents and third-party entities he controlled. The sales amounted to almost 90 per cent of the company’s 2017 revenue.
“Longfin reported as revenue millions of dollars of commodities ‘transactions’ which were actually sham, round-trip events,” the US attorney’s office for the district of New Jersey alleged in an indictment. Mr Meenavalli called himself a “global techno entrepreneur” and a “financial wizard” when Longfin went public in December 2017. The company’s shares jumped more than 1,000 per cent just days after it floated when Longfin announced it was buying a blockchain company.
Prosecutors on Wednesday claimed the company’s filings after its float included false revenue. They claimed Longfin “did not engage in any revenue-producing cryptocurrency transactions, and did not use the blockchain to empower any solutions”. The Securities and Exchange Commission suspended trading in the stock in April 2018 and the company said the following month it was delisting.

The SEC also filed civil fraud charges against Mr Meenavalli on Wednesday. It accused him of conducting a “fraudulent public offering” by falsely stating Longfin was operated in the US and alleged he committed accounting fraud. The SEC previously accused Mr Meenavalli and several others with a scheme involving the illegal distribution of company shares.
The US securities regulator said Longfin and Mr Meenavalli were not represented by defence counsel. Mr Meenavalli could not be immediately reached. A spokesman for the US attorney’s office said Mr Meenavalli was in India.

https://www.ft.com/content/ee91aaa2-87ce-11e9-97ea-05ac2431f453