Bali News and Views Editors Comments:
Bit coin bubble may have burst
I've been saying for some months now that the Bitcoins were going to crash.
Over a thousand Facebook friends have unfriended me because they were too ignorant to see that "Bitcoins is a fraud". According to Jamie Diamon, Head of Jp Morgan, Chase.
Two months ago I said : "If you thought about buying Bitcoins, think again. If you bought them and have a handsome profit don't be greedy, take your profit. If you bought and have minor losses, I would sell out now"
As always, do not take actions based on my opinion. I do not have a crystal ball and certainly have made a lot of mistakes in my life. Fortunately most of my investment recommendations over the last 20 years have been profitable especially Bali real estate.
Last Friday a major Bitcoins Index crashed 16 % or more.
From a technical standpoint it may have formed a huge M sell signal, which as every seasoned trader such as myself knows is a major sell signal.
With almost every second Facebook advertisement: seducing you into buying Bitcoins or other cryptocurrency it is sucking in the moms and pops and ignorant investors around the world.
They are jumping in with little or no knowledge of what they are buying.
Because of these foolish investors there's always a chance it may have several more surges before it crashes.
When it crashes I believe this could be one of the biggest investment crashes of my lifetime, perhaps taking 80% or even 100% of ignorant investors money.
I must admit I was even tempted to buy on recent major corrections but why take a risk when we have made up to several thousand percent returns on Bali real estate the last 15 years.
See More Below "Bitcoin price: Cryptocurrency plummets $1000 ahead of bitcoin gold split".
According to PT. B.A.L.I., Bali's leading real estate expert for the past 13 years, who have thousands of satisfied clients, this is the “Second best time to purchase Bali Real Estate this century”.
I've been saying for some months now that the Bitcoins were going to crash.
Over a thousand Facebook friends have unfriended me because they were too ignorant to see that "Bitcoins is a fraud". According to Jamie Diamon, Head of Jp Morgan, Chase.
Two months ago I said : "If you thought about buying Bitcoins, think again. If you bought them and have a handsome profit don't be greedy, take your profit. If you bought and have minor losses, I would sell out now"
As always, do not take actions based on my opinion. I do not have a crystal ball and certainly have made a lot of mistakes in my life. Fortunately most of my investment recommendations over the last 20 years have been profitable especially Bali real estate.
Last Friday a major Bitcoins Index crashed 16 % or more.
From a technical standpoint it may have formed a huge M sell signal, which as every seasoned trader such as myself knows is a major sell signal.
With almost every second Facebook advertisement: seducing you into buying Bitcoins or other cryptocurrency it is sucking in the moms and pops and ignorant investors around the world.
They are jumping in with little or no knowledge of what they are buying.
Because of these foolish investors there's always a chance it may have several more surges before it crashes.
When it crashes I believe this could be one of the biggest investment crashes of my lifetime, perhaps taking 80% or even 100% of ignorant investors money.
I must admit I was even tempted to buy on recent major corrections but why take a risk when we have made up to several thousand percent returns on Bali real estate the last 15 years.
See More Below "Bitcoin price: Cryptocurrency plummets $1000 ahead of bitcoin gold split".
Free Bali Real Estate Seminars:
According to PT. B.A.L.I., Bali's leading real estate expert for the past 13 years, who have thousands of satisfied clients, this is the “Second best time to purchase Bali Real Estate this century”.
They cite the fact that clarification of real estate laws for foreigners allowing them to obtain control for more than a normal lifetime and up to 70% bank financing is creating a huge new demand for Indonesian and Bali Real Estate.
Coupled with the fact that Bali Real Estate has just undergone the first correction in modern history with prices down as much as 50 % this has set the stage for *increases of 20% to 100 % the next three to five years.
Free Bali Real Estate Seminars:
Whether you are a buyer, seller, broker, agent,investor, lessor or renter you can benefit from attending one of our two free Real Estate Seminars in Bali this month.
At these seminars PT. B.A.L.I’s Canadian President, Lawrence, a 21 yr. Bali resident who is married to Azizah, a fully Licenced Notaris will review the most recent real estate laws for Indonesians and Foreigners in detail.
Then they will also discuss the Past, Present, and Future of Indonesian Bali Real Estate.
Free Seminar Schedule:
Bali, Emerald Villas, Jl. Karangsari, # 5, Sanur, Bali, Indonesia.
(1) Thursday Nov. 30th.. 6:30 PM - 7:30 PM.
OR
( 2) Saturday Dec. 2nd.. 2:00 PM - 3:30 PM.
Seminar Topics:
At these seminars you will learn about:
§ The Past, Present and Future of Bali and Indonesian real estate.
§ Why a recent official clarification of foreign ownership laws allows foreigners to totally control Indonesian properties for up to 80 years without leases?
§ Why Indonesian banks will now lend money on Indonesian Real Estate to foreigners, therefore proving leverage and additional huge profits?
§ How to avoid legal problems and make sure a property is solid.
§ How to avoid complicated real estate laws affecting Indonesians married to foreigners.
§ Why this is the second best time to buy this century.
§ Where are the best locations to buy for maximum profits?
§ What type of properties will offer the best investment potential of *10% to 20 % per year?
§ Discover how you can sell your Asian property fast for the highest prices and lowest commissions on the brand new “Best Asia Real Estate” web site designed after the largest most successful real estate site in America with high tech search features.-.
§ An opportunity for a free listing on B.A.R.E.
§ First Class Beachfront property at almost 50% discount.
§ A Quality 5,000 m2 Bali Hotel with12 bungalows, 3 pools and Restaurant for only $588,000.
§ Low cost properties with Luxury Villas starting as low as $138,000 for a three bedroom 650 m² 3 bedroom, 4 bath with private 9 mtr. Pool.
§ Ridiculously low priced ocean view building lots starting as low as $25,000 for 500 m².
Limited Seating:
Free Parking. Seating is very limited for these free seminars so please avoid disappointment and make reservations ASAP.
For Reservations Email:seminarsptbali@gmail.com
Tel: Office: 62-361- 284069 or
Bahasa English 62-8123814014 –
Bahasa Indonesia or 62-8123632177
________________________________________________________________________________________
BITCOIN prices took a blow today, falling below £5,328.46 ($7,000) just days before a planned software update will release bitcoin gold.
By SEBASTIAN KETTLEY
18:03, Fri, Nov 10, 2017 | UPDATED: 18:13, Fri, Nov 10, 2017
Mohamed El-Erian: Bitcoin is a disruptive technology
Bictoin prices fell by £761.21 ($1,000) in just over 48 hours after strong performance at the start of the week.
The crypto token opened today at £5,440.19 ($7,146.78), according to CoinDesk, before peaking at £5,579.71 ($7,330.06).
On Wednesday, the popular digital currency flared to an unprecedented price of more than £5,937.43 ($7,800) in the wake of the cancelled Segwit2x update.
The plummeting price comes on top of a hard fork that took place a few weeks ago, and will now come into effect with a new token known as bitcoin gold (BTG).
RELATED ARTICLES
18:03, Fri, Nov 10, 2017 | UPDATED: 18:13, Fri, Nov 10, 2017
Mohamed El-Erian: Bitcoin is a disruptive technology
Bictoin prices fell by £761.21 ($1,000) in just over 48 hours after strong performance at the start of the week.
The crypto token opened today at £5,440.19 ($7,146.78), according to CoinDesk, before peaking at £5,579.71 ($7,330.06).
On Wednesday, the popular digital currency flared to an unprecedented price of more than £5,937.43 ($7,800) in the wake of the cancelled Segwit2x update.
The plummeting price comes on top of a hard fork that took place a few weeks ago, and will now come into effect with a new token known as bitcoin gold (BTG).
RELATED ARTICLES
Bitcoin price: How much is a single bitcoin worth?
Bitcoin price: Latest bitcoin value charts as price hits record high
BTG aims to keep most properties of the bitcoin protocol, but will disallow the use of specialised chipsets in the mining process.
These forks are very bad for bitcoin
Sol Lederer, Loomia
Bitcoin gold is now scheduled to arrive at 7pm GMT on Sunday November 12 – not November 1, as it was originally planned.
The token's backers said in a statement: "We are extremely grateful for the community around the world who have been contributing hash power to our testnets; besides patiently testing their own mining process, they allow exchanges, pools, wallet developers, and all other service operators to implement and test their support of BTG so that the bitcoin gold community can have a full suite of services at launch time."
In a similar split to bitcoin cash earlier in August, all current users of the cryptocurrency will be credited with a number of BTG tokens equal to their bitcoin stash.
Bitcoin price: Latest bitcoin value charts as price hits record high
BTG aims to keep most properties of the bitcoin protocol, but will disallow the use of specialised chipsets in the mining process.
These forks are very bad for bitcoin
Sol Lederer, Loomia
Bitcoin gold is now scheduled to arrive at 7pm GMT on Sunday November 12 – not November 1, as it was originally planned.
The token's backers said in a statement: "We are extremely grateful for the community around the world who have been contributing hash power to our testnets; besides patiently testing their own mining process, they allow exchanges, pools, wallet developers, and all other service operators to implement and test their support of BTG so that the bitcoin gold community can have a full suite of services at launch time."
In a similar split to bitcoin cash earlier in August, all current users of the cryptocurrency will be credited with a number of BTG tokens equal to their bitcoin stash.
COINDESK Bitcoin price: The crypto token plummeted after a week of strong performance
In the few months that is has been alive, bitcoin cash has already managed to amount a market cap volume of £10,546,618,870.19 ($13,855,093,020).
But the creators of bitcoin gold have faced criticism, mostly for choosing to withhold one per cent of the currency's volume.
Unlike bitcoin, the new token was created in advance of being open-sourced to the public.
BTG's creators have argued that this move simply aims to pay the development team for their work.
Users will be able to redeem their coins after the cryptocurrency is launched.
Everything you need to know about bitcoinMon, October 30, 2017
How to buy bitcoin: Everything you need to know about cryptocurrency wallets and bitcoin cash.
PLAY SLIDESHOW
Some have also criticised the need for a bitcoin derivative in market already over-saturated by crypto tokens.
Sol Lederer, blockchain director at Loomia, said in an statement: "These forks are very bad for bitcoin.
"Saturating the market with different versions of bitcoin is confusing to users, and discredits the claim that there are a limited number of bitcoins — since you can always fork it and double the supply."
There are currently more than 1,200 different tokens in existence according to CoinMarketCap. Most of them do not even reach a tenth of a dollar in price.
In the few months that is has been alive, bitcoin cash has already managed to amount a market cap volume of £10,546,618,870.19 ($13,855,093,020).
But the creators of bitcoin gold have faced criticism, mostly for choosing to withhold one per cent of the currency's volume.
Unlike bitcoin, the new token was created in advance of being open-sourced to the public.
BTG's creators have argued that this move simply aims to pay the development team for their work.
Users will be able to redeem their coins after the cryptocurrency is launched.
Everything you need to know about bitcoinMon, October 30, 2017
How to buy bitcoin: Everything you need to know about cryptocurrency wallets and bitcoin cash.
PLAY SLIDESHOW
Some have also criticised the need for a bitcoin derivative in market already over-saturated by crypto tokens.
Sol Lederer, blockchain director at Loomia, said in an statement: "These forks are very bad for bitcoin.
"Saturating the market with different versions of bitcoin is confusing to users, and discredits the claim that there are a limited number of bitcoins — since you can always fork it and double the supply."
There are currently more than 1,200 different tokens in existence according to CoinMarketCap. Most of them do not even reach a tenth of a dollar in price.
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