Bitcoin (BTC) is back at it's highs today.  Tomorrow is FDay for BTC - Fork Day. Why is BTC at it's highs the day before the fork?  Is this a case of buy the rumor and sell the news?  Or, is this a case of the market showing satisfaction that the fork process is expected to go well and the BTC price is about to explode to the upside? There's a well know saying in trading of "Buy the rumor, Sell the news".  It has proven itself to be true over and over again.  Very often good news is already figured into the price of an equity and when that good news actually becomes true, the equity then drops because the anticipation of the event has passed. Is that the case now with BTC?  Should we be looking to sell BTC as soon as the fork is implemented on Aug 1st, 2017 at 7:20 AM CT?  Or, is the price being held back by the fork and once the fork goes smoothly it is going to take off. To make things more difficult there is an alternate explanation for th...

Everywhere you turn in Crypto World everyone is talking about August 1st.  What to do, what to do. I've read several article that are supposedly "the whole story behind the BTC scalability choice" and each one I read says a different thing.  I'm not sure if that is because they really don't know what they are talking about, or if it is because things continue to change and by the time one article goes to press times have changed enough for the next article.  It seems to be a little of both. I distill it down to this.  There was great, warranted fear that consensus would not be made and there could be a real ugly hard fork of BTC this Summer.  Well the very good news is that did not happen.  Consensus was reached and Segwit is in the process of being implemented.  BIP 91 kicked in last week. So that leads us to August 1st and "Bitcoin Cash", or BCC.  On August first is is very possible a portion of the BTC crowd will enable a fork of the co...

What does the recent SEC opinion mean?  Well, each case is different so make sure you ask your attorney, but I will tell you how I interpret it. I am in the process of an ICO and have met with our attorneys on this. My/Our interpretation is, if you do an ICO where you are offering ownership of the company, then that falls under the jurisdiction of the SEC. It doesn't matter if you are selling your ownership positions for Fiat currency or for Crypto currency, it is still an offering and therefore is subject to all the rules and regulations of security offerings. If, on the other hand, you are just selling tokens and those tokens can be used to access your product, then the SEC "ruling" doesn't apply to you. In this scenario think of the token sale as selling Gift Certificates instead. The SEC does not regulate the sale of Gift Certificates any more than the regulate the sale of any other product.  So if your ICO is selling tokens that have nothing to do with owner...

When people ask me how I store my coins, I explain that I keep my high volume coins (meaning I may trade them) in my "Exchange" account, and I keep my buy-and-hold coins in either a PC based wallet or on my KeepKey. A Keepkey is a USB hardware device that you plug in to your USB port to transfer to and from, and when not in use you store it in a safe place, such as a locked drawer or a home safe.  Keepkey is not the only hardware wallet out there.  In fact Ledger makes a very good wallet, but they are constantly sold out and the wait list is often months to get one. The reason I store them the way I do is for security. I don't trust online wallets to keep my coins as safe as I can when I store them locally.  Just this week there was a hack of the ETC online wallet site "ClassicEtherWallet.com".  The hackers used social engineering to get control of the site and made off with user's coins.  You can Google for more info on that or see a summary here: h...

How much lower will we go?  Isn't that the question to which we'd all like the answer. On my June 24th post I said that I didn't like the absence of strength in the recovery and it looked like we might go lower before we get a real recovery rally underway.  Well, it looks like that is what is going on.  There's no telling how much lower it will go before it recovers, but it will recover at some point.  Should you cash out and wait for a low before buying back in?  Maybe, but I'd recommend against it.  Most of the time it will recover very quickly and you'll be caught on the sidelines.  Then you don't want to buy into a rally so you are waiting for it to crash again so you can get in, and if it doesn't crash you are left out of the recovery.  If you aren't in for the recovery you've guaranteed your losses.  But, it is your money, you have to decide how much you can take before you want to sit it out for a while and wait for it to stabilize. ...