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January 23rd, 2018- In This Issue:

Price Alert Bitcoin Climbs Above $11,000

We were at the Bitcoin Conference in Miami last week with over 4000 people and some of the smartest minds in the country and one thing was unanimous a belief in Bitcoin and the Blockchain and the belief that it is unstoppable it was a fantastic event full of great people.

Here are pictures of the conference if anyone is interested just click the link.  

We believe you should take advantage of the 25% discount on Bitcoin and we  expect to see a rally in the near term s o if you have additional funds to invest, now might be the best time to add to your holdings.

As always, buy the dips, hold on to your bitcoins for as long as you can and spread the word. Tell your friends, your relatives and anyone else who will stand around long enough to listen about Bitcoins, believe me you will be doing them a huge favor.

Visit BitvestIRA for information on using your IRA to invest in bitcoin at 20% below spot price. Or call us directly with any questions at 1-844-BIT-VEST (1-844-248-8378)

'One Bitcoin Will Be Worth $1 Million,' Cryptocurrency Pioneer Tells PayPal CEO

Dan Schulman, chief executive of PayPal, talks with bitcoin pioneer Wences Casares about bitcoin, blockchain and fintech in a  Facebook interview . Casares, a serial entrepreneur, has launched startups across South America and the United States, not the least of which is bitcoin wallet startup Xapo, which he currently leads. Casares is also  a member  of the PayPal board. Schulman touts Casares as one of the foremost authorities globally on bitcoin and blockchain.

Bitcoin & Blockchain Changing the World

Schulman pointed to the bitcoin price, which at the time of the interview was trading at $14,800, clairvoyantly predicting that the price could change even as he spoke. Bitcoin and blockchain have captured people's attention because they view it as an "interesting experiment," said Casares. "If it works out, it could change the world more than the internet changed it," he added.

Bitcoin Believer

Argentinian-born Casares has distinct memories from his childhood of his family losing everything, thrice. He characterizes those memories as "emotional" and "social" rather than economic, and points to the Argentinian government as having triggered events that led to the fallout - hyperinflation, for instance. It was two steps forward and three steps back for his family as a result of government activity, even confiscating bank accounts.

His childhood experience, coupled with an awareness of the world's unbanked citizens without the luxury of the US dollar, seems to have shaped his belief in bitcoin. "It was the first time that I could see technology solving that problem for good," he said. As a result, he's pledged the rest of his career and is staking his reputation on it. He is pulling for the bitcoin experiment to succeed because if it does, we'll have a much better world than we have today, he said.

Instant, Fee- Free Bitcoin Payments: The Lightning Network Just Had Its 'Pizza Transaction'

On Saturday, Reddit user btc_throwaway1337  posted  a picture of an AR300M VPN Router and revealed that he or she had purchased it from TorGuard using the LN mainnet.

As CCN reported, TorGuard began accepting LN payments for its VPN service earlier this month, even though LN software has not yet received its long-anticipated release and is currently only meant to be used on the testnet.

This pseudonymous Reddit user, though, contacted TorGuard customer support and asked if the company would accept LN payments for physical products, too. After receiving an affirmative reply, the customer purchased the router.

"I'm just your average BTC enthusiast, who had a bit of extra time last weekend," the customer said. "It was all quick, easy, painless, and most importantly: instantaneous and fee-free!"

The user added that his or her payment channel had also been used to rout several transactions made by the small but growing number of mainnet LN users.

However, the user cautioned that because the LN is still officially in testing, anyone who uses it should realize that they could lose funds or encounter other bugs.

"Mainnet is still caveat emptor! I went down the rabbit hole fully willing to lose my BTC. I got lucky, others may not!," the LN user said.

A Historic Moment for the Lightning Network

Nevertheless, the purchase is a historic moment for LN adoption, as it appears to represent the first time that an LN payment has been used to purchase a physical item. Many Reddit users compared it to the famous " pizza transaction," which occurred on May 22, 2010, and represented the first time that bitcoins changed hands in a real-world transaction.

This LN pioneer, however, is not content with the comparison. As of press time, he or she was attempting to coordinate an  actual LN pizza purchase.

"Rumor has it, I'm on LN mainnet. I will 100% pay for two pizzas if any of you can help facilitate the transaction. PM me!," the user said.

Bitcoin price to SKYROCKET: Expert has 'no doubt' Bitcoin will reach over $100,000

CEO of Shopin Eran Eyal said he has "no doubt"  bitcoin will reach a value of beyond $100,000 in the future. 

Mr Eyal said it is important to separate bitcoin from other types of cryptocurrencies such as ethereum or  Ripple. He said each cryptocurrency has its own "business model" to differentiate from one another. 

Speaking on  CNBC, Mr Eyal said: "I have no doubt that bitcoin is going to reach well-beyond $100,000. Have a look at how it has climbed over the past. 

"I think it's important not to just look at it at this moment in time but also to look at it historically at what has happened around the world.

"I mean, look in the United States, bitcoin exchanges were shut down three times. What we are seeing here is really government's taking a knee and taking a moment to understand the ramifications for their specific culture."

Mr Eyal said all cryptocurrencies are different. He used the example of  ethereum  and said it is a platform for building "exciting technologies". 

He said it is "impossible" to look at bitcoin and ethereum and compare one to the other because "they are not both apples". 

Bitcoin is a cryptocurrency not controlled by a single administrator and can be used to buy things worldwide electronically. 

Bitcoin And Gold: An Inverse Relationship


There appears to an inverse relationship between Bitcoin and gold: one moves up, the other moves down; one moves down, the other moves up.

Based on Elliott Wave analysis, Bitcoin appears to have made a new low and is poised for a move up in the coming week.

The Bitcoin Investment Trust is a margin-free instrument that is traded on the OTC and allows traders with a set strategy to take advantage of Bitcoin's extreme volatility

Gold appears to be heading into a bearish period which suggests you should sell gold.
Based on my analysis, you should buy Bitcoin and sell gold in the coming week.

Based on my analysis, you should buy Bitcoin and sell gold in the coming week.

As I was reading the last report I published in Seeking Alpha on January 8, 2018, "Bitcoin: A Trader's Dream" and the commentaries, I could not help but take a look at the relationship of Bitcoin and gold since the inception of the Bitcoin futures market on December 10, 2017. What I found is a very interesting relationship between the price of Bitcoin and gold as an inter-market relationship.

What we have seen with the Bitcoin phenomenon is the creation of a virtual currency which has established itself as a major asset. When you take a look at the amount of capitalization it has taken away from the market, either in gold and silver or stocks and bonds - we really don't know from where - close to a $1 trillion has gone into Bitcoin. The increase in the price of Bitcoin has outdone almost anything in history. What I find interesting is that when you analyze what has taken place, it has demonstrated what can happen to the actual price structure of an asset in a free enterprise environment that is not controlled by central banks or a government. It has put into question the actual discovery process of fair values in any asset across the board, including gold, silver, stocks, bonds, and every other asset. You can look at other assets and begin to see that these assets have been a product of major manipulation over the past 90 years at least. The difference is that technology now is breaking down the veil of that manipulation and is allowing the public to see what can be done with this amazing technology behind Bitcoin which really is the source of the tremendous demand for cryptocurrency: Blockchain technology.

Coinbase Overshoots 2017 Revenue Goal By 66% Making $1 Bln, Rejects Further VC Funding

America's largest cryptocurrency exchange  Coinbase  reportedly made $1 billion in revenue in 2017, overshooting its 2017 revenue forecast of $600 mln by 66 percent,  Recode reports , citing "industry sources." According to Recode, despite the peaked interest of outside investors, the company remains private and does not allow stock to be traded on secondary markets.

The platform was swamped by an influx of new users looking to set up trading accounts as Bitcoin entered a massive bull run in November, 2017. Following the announcement of Bitcoin futures launch early that month on CME, Coinbase saw 100,000 new users sign up in just 24 hours.

Although Bitcoin's long bull run ended in the  week leading up to Christmas, its rise to an all time  high of $20,000 in mid-December saw Coinbase make massive revenues through trades on its platform.

The cryptocurrency exchange makes revenue by charging fees for fiat to crypto conversions via its Buy/Sell feature and for trades on its  GDAX exchange.

Investors clawing for stake in Coinbase

The success of Coinbase has not gone unnoticed by investors and venture capitalists. According to Recode's report, shares in the company are being sought out on a number of fronts.

However, Coinbase shareholders have been told not to sell their shares to outside parties. Doing so would constitute a breach of policy, Coinbase told Recode in a statement:

"As a private company, Coinbase does not allow trading of stock on secondary markets for a variety of reasons, including the fact that there is not full and equal information available to the market. We will take appropriate action if we find people have sold Coinbase shares in violation of our agreements not to do so."

Nasdaq 'investigating' bitcoin futures that are different to rivals, CEO says

The  Nasdaq is assessing how to offer cryptocurrency futures in a way that none of its competitors have so far managed, the CEO of the stock exchange told CNBC Tuesday.

Adena Friedman confirmed earlier reports that the  Nasdaq is looking into bitcoin futures , but did not give a timeline for a launch or if it will definitely happen. Though her comments suggest that the development of a product is indeed happening.

"We are continuing to investigate the idea of a cryptocurrency futures (contract) with a partner and we continue to look at the risk management around that, making sure we are putting the right protocols in place, making sure there's proper demand, and that the contract is different from what's already out there," Friedman told CNBC.

Rivals the Cboe and CME Group have both  launched bitcoin futures contracts  in the past few months. But speaking during an interview at  The Sanctuary in Davos , Switzerland, Friedman said that the Nasdaq will offer a different type of contract.

The Nasdaq CEO explained the Cboe and CME offerings operate by tracking the price of bitcoin and operate in reference to its future price. But, the Nasdaq wants to offer a contract different from what Cboe and CME Group have.

"What we might look at is more of a total return futures, so it's a little bit of a different construct," she said, adding that it meant it was "more of an investment than a tracking stock." This suggests the product might track a spot rate rather than any future price

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