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The 3 Kinds of Cryptocurrency Traders that are Kicking Your Ass

The 3 Types of Cryptocurrency Traders that are Kicking Your Ass

For an investor to outperform the market, someone else must underperform.That is a simple arithmetic fact.
In a fair and regulated environment, investors have equal access to information. Winners and losers are determined by whoever can make a better prediction.
But cryptocurrency is the wild, wild west. Market participants don’t play fair and they can profit at the expense of others.
Here are the three types of traders that are kicking your ass
Insider Traders
Under Rule 10b5–1, the SEC defines insider trading as “any securities transaction made when the person behind the trade is aware of nonpublic material information.” Insider trading is illegal in almost all traditional markets. In a research paper published in 2010, Qin Lei found empirical evidence that insiders were able to consistently beat the stock market.
Over the last year, we’ve seen many high-profile cases of insider trading in the cryptocurrency market.
Coinbase** — The Bitcoin Cash Incident**
On December 19, 2017, Coinbase tweeted it would add Bitcoin Cash to its exchange. But before the announcement was made public, both the trading volume and the price of Bitcoin Cash suspiciously surged.
On March 1, Coinbase was hit with a class action lawsuit. The full court document is available here.
South Korea Financial Supervisory Service (FSS)
Even regulators are being investigated for insider trading. Korean FSS officials knew ahead of time that new cryptocurrency trading restrictions would be put in place. Yet, they still made trades before the announcement.
The chief of the FSS, Choi Hyung-sik, confirmed on Jan. 18 that trading violations had occurred. Despite being caught red-handed, another FSS official responded that there was technically “no code of ethics or conduct for virtual currencies and therefore difficult to issue any punishment.”
The examples mentioned above are just a few high-profile cases. Insider trading runs rampant in the cryptocurrency space. Very often, prices and trading volumes will pump right before an exchange announces a new coin.
To many, insider trading is no longer a surprise but rather something that “just happens” in an unregulated market.
Whales
A whale is simply a colloquial way to describe an investor who is able to manipulate markets by mobilizing large amounts of capital.
Most crypto investors treat whales like the boogeyman. They’ve never had a personal encounter, but swear that whales are responsible for large market swings everywhere.
In some cases there is strong evidence indicating that they are right. Recently, academic research has come out showing that large-scale price manipulation does happen. Here’s an example from 2013, where a single entity was largely responsible for pushing the price of Bitcoin from $150 to $1,000 in two months. Another paper that came out last week shows how large amounts of USDT was used to manipulate Bitcoin prices.
Here are a few techniques whales use to manipulate price.
Stop-loss hunting
Whales intentionally push the price down in order to trigger stop-loss orders.Then they turn around and buy coins from these stop-loss orders for cheap and wait for the market to recover.
This strategy works well for coins with low trading volumes and small order books. With enough coins, whales can push down the price by introducing a slew of market-price sell orders.
To show how this works, let’s imagine a scenario:
The goal is to drive the price down past $100, which may be a psychological breaking point for some people and therefore a likely place for stop-losses.
One can do this by:
  1. Placing a market sell order totaling 10 BTC, to drive the price down from $150 to $110
  2. Keeping the sell pressure on, as investors naturally start selling their holdings.
  3. Watching people’s stop-losses go off at $100 without their knowledge. This drives the price down further.
  4. Buying up all the stop-loss orders at $90 and under.
  5. Waiting for the market to recover before selling the coins.
Short/Long Hunting
This is another form of market manipulation, but one that only exchanges can pull off.
Let’s see how this works on Bitmex for BTC.
The price just has move slightly in the wrong direction to trigger a liquidation. When liquidations happen, the investor loses their entire margin and pays a big fat fee.
Because exchanges know exactly what prices will trigger these liquidations, they have both the capability and financial incentive to engineer price movements using bots.
To be clear, there is no evidence implicating Bitmex. But it is suspicious that low volume trading periods are followed by a furious uptick in volume. When this happens, liquidation tears through leveraged positions, leaving traders with nothing other than a fistful of trading fees.
BitmexRekt tweets these liquidations in real time. You can follow them here.
Spoofing
Another common strategy whales use to manipulate the market is called spoofing. It means to bid or offer with intent to cancel before the orders are filled.The goal of spoofing is to send false signals to investors.
Here’s an example of using this strategy to profit:
This also works in the opposite direction. By placing large sell orders, spoofers can send bearish signals and lure investors into selling their cryptocurrencies at a discount.
Bitfinex’d investigates an entity known as “Spoofy” operating on the Bitfinex exchange.
Wash Trading
The last strategy we’ll cover is wash trading. In a wash trade, an investor takes both buy and sell positions. This may be done in order to:
Usually wash trading is extremely hard to prove, as washed trades look very similar to real trades.
On July 27, however, Bitfinex unknowingly baited wash traders during the Bitcoin (BTC) fork to Bitcoin Cash (BCH). At the time of the fork, all BTC holders were to receive BCH commensurate with the amount of BTC they held.
To accommodate for BTC held in margin positions at the time, Bitfinex had to finesse the numbers. To quote the announcement:
BCH will be distributed to settled bitcoin wallet balances as of the UTC timestamp of the first forking block, which is expected to occur on August 1st, 2017.
The token distribution methodology will be:
  • All BTC wallet balances will receive BCH
  • Margin longs in BTC/USD and margin shorts in XXX/BTC will not receive BCH
  • Margin shorts in BTC/USD and margin longs in XXX/BTC will not pay BCH
  • BTC Lenders will receive BCH
Due to the net amount of BTC committed in margin positions at the time of the fork, the above methodology may result in Bitfinex seeing a surplus or deficit of BCH. As such, we will be resolving this discrepancy in the form of a socialized distribution coefficient. For example, currently, there are more longs than shorts on the platform, causing a distribution coefficient of ~1.091 (Meaning that for each qualifying BTC a user will receive 1.091 BCH). The actual coefficient will be calculated at the moment of the distribution.
These rules turned out to be game-able. Because Bitfinex did not charge BCH to open short positions leading up to the split, one could simply purchase 10 BTC and short 10 BTC. This way, you could collect free BCH without any exposure to BTC price volatility. If BTC drops, the shorts cancel out any loss. If BTC soars, the profits cancel out the short positions.
On July 27, there were more longs than shorts on the platform and the distribution coefficient was 1.091.
However, on August 1, the distribution coefficient moved to 0.7757.
Leading up to the fork, an enormous amount of short positions were created. And instead of prices going down, which is what usually happens when shorts increase so dramatically, prices actually went up.
To make matters even more dubious, shorts dropped by 24,000 on a single tick right after the fork.
The manipulation here was so obvious that even Bitfinex had to acknowledge it. They issued an official statement about the wash trading here.
Pump & Dump Group Executives
So we’ve talked about insider traders and whales.
The final type of traders we’re going to talk about are the pump & dump group executives.
Pump & dump (P&D) is a form of market manipulation that involves purchasing a cheap asset, artificially inflating its price, and then dumping the asset a higher price.
The cryptocurrency market is rife with such groups. Here are just a few:
Here’s howPump & Dumps work
  1. P&D executives find a coin that is easy to manipulate and easy to sell. I.e. A coin with a strong community, advertising potential, small order book, and low trading volume.
  2. Executives secretly accumulate the coin over time while trying not to affect the price.
  3. These executives spread their pump signals to their inner circle members who pay upwards of $300 for the privilege of hearing early signals.
  4. The first wave of pumpers start shilling on signal groups. They tell gullible investors that a pump is about to happen because of “new website updates”, or “new partnership announcements”, generally whatever angle they can spin.
  5. As the price rises, the P&D executives start dumping their coins.
  6. Once the executives are spent, they spread the signal to their paid members to begin dumping the coin.
  7. The price starts falling and like a game of soggy cookie, the slowest players lose.
Cryptomedication wrote a great piece exposing BravadoGroup and several large influencers in the crypto space planning large scale P&Ds.
The reason I single out P&D executives is because they are the only ones that consistently profit. They have the most control and the highest amount of influence.So much so that members are willing to pay $300 for the privilege of being used as pawns. The buyers in signal groups are even worse off. They are falsely led into buying into a promising, undervalued coin, without any knowledge that it will soon be dumped.

So you’re telling me the game is rigged and I’m boned, what should I do?

The simple answer is to stop actively trading.The more you try to time the market, the more you open yourself up to opportunities of getting screwed over.
Speculative trading is a zero-sum game. In order for investors to outperform the market, they require others to underperform the market. In an unfair market, the average investor will more likely lose to people who have an unfair advantage and are gaming the market.
This is why I genuinely believe the average investor should just index the entire market. If you’re in it for the technology and the long-term growth, why bother speculating at all? Just hold a small piece of the entire cryptocurrency market. Indices has been proven to beat 95% professional traders in equity markets over a 15 year-period.
This is why I built HodlBot. It’s an easy way to diversify across the top 20 cryptocurrencies by market cap. It indexes 87% of the entire cryptocurrency market. Every week, your portfolio automatically rebalance so you’re always tracking the top 20 coins. It helps you get some quiet sleep while active traders lie awake, staring at their phones. You can read more about it here.
The best thing about a total market index is that it can guarantee market performance. Active trading, on the other hand, cannot.
I don’t mean to spread FUD by pointing out all the different ways traders are ripping investors off. I just want investors to know what exactly free and unregulated markets really mean. We’re not protected by the SEC or any other sanctioning bodies. While this comes with unbridled freedom and breathing room for rapid innovation, it also means all foul play is fair play.
It’s a brave new world out there filled with all kinds of splendor and danger. If you’re going to take your chances, please make sure you’re prepared.
submitted by haggenballs to BitcoinMarkets [link] [comments]

Major Moon Math Update 2017-11-02

The Calculated Update

Several changes today, aside from the financial changes of consecutive ATH days.
Reddit is giving me more columns now, so I'm using them. Moon Math goes all the way back to July 2011. If we can agree on a price for January 1st, 2011, then I'll adjust to that.
I'm adjusting how the trends are determined in Azop's charts. The full rainbow trend will be updated daily to track with the 2012 CDPR. The 2017 trend will be drawn based on the 2017 CDPR. It's a subtle change, but you'd notice if you followed azop closely. He would adjust these rates periodically, too. I had them fixed at the values of his last post until today.
nannal 2020 and The Nannaling will now be calculated against all 11 columns. So, it's going to be a lot harder to score a 50%. As if it wasn't hard enough.

Azops Rainbow Charts

https://imgur.com/a/ZNs55

Full Moon Math Table

Label 30-day Performance 60-day Performance 90-day Performance 2017 - Present Performance 2016 - Present Performance 2015 - Present Performance 2014 - Present Performance 2013 - Present Performance 2012 - Present Performance 2011 - Present Performance July 2010 - Present Performance
From Date 2017-10-02 2017-09-02 2017-08-03 2017-01-01 2016-01-01 2015-01-01 2014-01-01 2013-01-01 2012-01-01 2011-01-01 2010-07-18
Starting Price USD $4,386.88 $4,580.39 $2,794.12 $997.73 $432.00 $312.00 $804.00 $12.50 $5.27 $0.30 $0.09
% Change 152% 146% 239% 668% 1543% 2136% 829% 53322% 126476% 2221769% 7405896%
Doubling in months 1.7 3.8 2.4 3.8 5.8 8.0 15.7 6.6 7.1 5.9 5.6
Doubling Period in Days 51 115 74 115 176 243 476 202 215 179 171
Days in period 30 60 90 304 670 1035 1400 1765 2132 2497 2664
Compounding Daily Periodic Rate 1.40409% 0.63% 0.97% 0.63% 0.45% 0.30% 0.15% 0.36% 0.33558% 0.40% 0.42%
Daily Periodic Rate 1.73% 0.76% 1.54% 1.87% 0.94% 0.53% 0.20% 0.73% 0.66% 0.91% 1.00%
Annual Rate of Investment 632% 277% 562% 682% 344.0% 194.4% 73.6% 266.4% 239.7% 331.9% 364.7%
Over $7,500.00 on 2017-11-10 2017-11-20 2017-11-14 2017-11-20 2017-11-28 2017-12-11 2018-01-19 2017-12-05 2017-12-07 2017-12-01 2017-11-30
Over $8,000.00 on 2017-11-15 2017-12-01 2017-11-20 2017-12-01 2017-12-12 2018-01-02 2018-03-02 2017-12-23 2017-12-26 2017-12-17 2017-12-15
Over $9,000.00 on 2017-11-23 2017-12-20 2017-12-03 2017-12-20 2018-01-07 2018-02-11 2018-05-19 2018-01-25 2018-01-30 2018-01-15 2018-01-12
Over $10,000.00 on 2017-12-01 2018-01-05 2017-12-13 2018-01-05 2018-01-31 2018-03-19 2018-07-28 2018-02-24 2018-03-03 2018-02-11 2018-02-06
Over $50,000.00 on 2018-03-26 2018-09-20 2018-05-29 2018-09-20 2019-01-24 2019-09-14 2021-06-27 2019-05-22 2019-06-26 2019-03-19 2019-02-23
Over $100,000.00 on 2018-05-15 2019-01-09 2018-08-09 2019-01-09 2019-06-28 2020-05-05 2022-09-29 2019-12-03 2020-01-19 2019-09-08 2019-08-07
Over $1,000,000.00 on 2018-10-27 2020-01-12 2019-04-04 2020-01-13 2020-11-22 2022-06-22 2026-12-01 2021-09-10 2021-12-06 2021-04-05 2021-02-04
nannal 's A+ on 2018-05-30 2019-03-24 2018-09-08 2019-03-25 2019-12-28 NEVER!!!! NEVER!!!! NEVER!!!! NEVER!!!! NEVER!!!! 2020-03-31
The Nannaling 54.5% What the shit is this?
nannal 2020 45.5% Read about it
http://moonmath.win
submitted by jarederaj to BitcoinMarkets [link] [comments]

Your Daily Moon Math - 2017-12-15

There's a new 7-day performance column today. That's going to fluctuate wildly. The results of that column are being included in the nannal calculations. The new column should make higher nannal percentages even harder to achieve. Today vs yesterday is a good example of that.
Yesterday the rates of the 7-day performance column were basically identical to the results of the 30-day column. Today, it's showing basically sideways movement. Why is that? The closing prices we're using today came in before the price action we're seeing, and we went sideways for a week.
This week seems to be behaving surprisingly like last week; as if last week was a test run for what we expect to see this week. I'm not sure how much stock I put in repeating weekly fractal patterns, but it has become self-evident that ilovebeans23 fucks:
https://www.reddit.com/BitcoinMarkets/comments/7jgnty/daily_discussion_wednesday_december_13_2017/dr7dcuq
I'm adding a regular blurb to the bottom of the moon math table because a number of people keep asking if they should buy bitcoin based on the Moon Math table or Azop's charts. The answer is no, you should not. You should learn to hunt. Then you should learn to avoid being hunted.
Good hunting.

Azop's Rainbow Charts

Moon Math Table

Label 7-day Performance 30-day Performance 60-day Performance 90-day Performance 2017 - Present Performance 2016 - Present Performance 2015 - Present Performance 2014 - Present Performance 2013 - Present Performance 2012 - Present Performance 2011 - Present Performance July 2010 - Present Performance
From Date 2017-12-07 2017-11-14 2017-10-15 2017-09-15 2017-01-01 2016-01-01 2015-01-01 2014-01-01 2013-01-01 2012-01-01 2011-01-01 2010-07-18
Starting Price USD $16,501.97 $6,635.41 $5,647.31 $3,774.27 $997.73 $432.00 $312.00 $804.00 $12.50 $5.27 $0.30 $0.09
% Change 1.07% 151.36% 195.34% 341.91% 1571.68% 3760.85% 5245.80% 1974.49% 133331.14% 316387.51% 5559530.67% 18532002.22%
Doubling in months 15.0 0.7 1.3 1.4 2.8 4.4 6.2 10.8 5.7 6.1 5.3 5.1
Doubling Period in Days 455 23 38 42 85 135 188 330 174 187 161 155
Days in period 7 30 60 90 347 713 1078 1443 1808 2175 2540 2707
Compounding Daily Periodic Rate 0.1525% 3.12010% 1.82% 1.66% 0.8150% 0.45% 0.37% 0.21% 0.40% 0.37126% 0.43% 0.45%
Daily Periodic Rate 0.1532% 5.05% 3.26% 3.80% 4.53% 5.27% 4.87% 1.37% 73.75% 145.47% 2188.79% 6845.96%
Annual Rate of Investment 56% 1842% 1188% 1387% 1653% 1925% 1776% 499% 26917% 53095% 798909% 2498774%
Over $20,000.00 on 2018-04-12 2017-12-19 2017-12-23 2017-12-24 2018-01-03 2018-05-02 2018-01-30 2018-03-08 2018-01-24 2018-01-28 2018-01-20 2018-01-24
Over $25,190.00 on 2018-09-10 2017-12-26 2018-01-05 2018-01-07 2018-02-01 2018-06-22 2018-04-02 2018-06-26 2018-03-23 2018-04-01 2018-03-15 2018-03-17
Over $31,620.00 on 2019-02-06 2018-01-03 2018-01-17 2018-01-20 2018-03-01 2018-08-12 2018-06-02 2018-10-12 2018-05-19 2018-06-01 2018-05-06 2018-05-06
Over $56,230.00 on 2020-02-19 2018-01-21 2018-02-18 2018-02-24 2018-05-10 2018-12-17 2018-11-05 2019-07-13 2018-10-11 2018-11-03 2018-09-17 2018-09-12
Over $79,430.00 on 2020-10-02 2018-02-01 2018-03-09 2018-03-17 2018-06-22 2019-03-04 2019-02-07 2019-12-24 2019-01-05 2019-02-04 2018-12-06 2018-11-28
Over $100,000.00 on 2021-03-02 2018-02-08 2018-03-21 2018-03-30 2018-07-20 2019-04-24 2019-04-10 2020-04-11 2019-03-04 2019-04-07 2019-01-29 2019-01-18
Over $1,000,000.00 on 2025-04-21 2018-04-23 2018-07-26 2018-08-16 2019-04-28 2020-09-17 2020-12-23 2023-04-11 2020-10-01 2020-12-17 2020-07-16 2020-06-15
nannal 's A+ on NEVER!!!! 2018-02-17 2018-04-05 2018-04-15 2018-09-01 2019-05-23 2019-11-08 NEVER!!!! 2019-11-08 NEVER!!!! 2019-06-23 2019-05-25
The Nannaling 75.0% What the shit is this?
nannal 2020 83.3% Read about it
WARNING: Using Moon Math as a forecasting method is VERY dangerous and VERY tempting. I see no reason why we should expect to see past performance continue indefinitely. Don't make conclusion based entirely on what you see on some random post on reddit. It doesn’t matter how compelling you might find this, it's one lens among many. If this isn't already obvious to you, for the love of GOD, start learning what critical thinking is.
Also, yes, a website is coming someday.
http://moonmath.win
submitted by jarederaj to BitcoinMarkets [link] [comments]

On the Separation of Assets – The Financial Cost of the BSA/LDS Split

This is a follow up report on a report made on May 10, 2018 entitled “A Mormon Divorce – The Ending of a Boy Scout Era by the Numbers”.
“Love is grand; divorce is a hundred grand." ~ Shinichi Suzuki
Overview (tl;dr): On paper, neither the BSA nor the LDS Church should walk away from this split without losing substantial financial assets on both sides; however, further analysis suggests both entities have sufficient war-chests to remain in a strong financial position post-separation:
  • The BSA gets the better part of this deal depending on a number of factors, not least of which includes a surprising increase in membership dues collected post-separation and first dibs to all assets belonging to the dissolved Utah councils – an estimated $50,619,729 depending on how things are actually split up between the BSA and LDS. The BSA will lose out on $220,116/yr in National Service Fees if the three councils dissolve, and continues to struggle in its 10 year decline in magazine sales. Overall contributions and BSA equipment/uniform sales show solid gains, and this combine with total assets of $1,471,984,000 in 2016 leaves the BSA in a strong position to move forward in its mission to prepare young people to make ethical and moral choices over their lifetimes by instilling in them the values of the Scout Oath and Law.
  • The LDS leave behind an estimated $50,619,729 in Boy Scout camps, buildings, and other assets to the BSA in just the act of dissolving three of the five existing Utah BSA Councils. This figure does not take into account the amount of funds the LDS Church as a whole and Mormon families individually have invested in other Local BSA Councils across the nation. This figure also does not take into account the untold tens of millions of dollars it will cost the LDS to replicate youth organization on the same level as the BSA. With this said, the LDS Church collects $8 Billion in tithing each year – $50 million lost plus another $50 million or more invested in creating a new youth organization is a drop in the bucket for the LDS Church and more than worth the expense to create a program better suited to the LDS Church’s international missionary needs.
How is the BSA National Organization Funded?
Funds to support the national organization of the Boy Scouts of America come from registration fees, local council service fees, investment income, Scouting and Boys’ Life magazines, sale of uniforms and equipment, and contributions from individuals. These monies help to deliver the program of the BSA (through four regional service centers and more than 300 local councils) to chartered organizations that use the Scouting program to meet the needs of their youth.
Lets break down each of these funding sources:
Registration Fees
On paper, this is the scariest loss of funding for the BSA National Organization. The BSA membership fee as of Dec. 1, 2017 was $33 a year for both youth AND adults.
With 470,000 Mormon youth exiting the BSA in 2019-2020, the BSA National Organization is looking at losing $15,510,000/yr in membership dues – essentially eclipsing the LDS $50 million loss in just four years.
However, this $15 million figure is misleading for three reasons. (1) It doesn’t account for registered Mormon adults in each Troop who also pay the $33 membership fee; (2) As covered in depth in a prior article and detailed further below, LDS Troops receive a discounted rate on their membership dues; (3) The membership fee was RAISED from $24/scout in 2014 to $33/scout in 2017 by the BSA National Organization in response to an anticipated departure by the LDS Church.
So let’s look at these calculations again in 2014 to 2019 terms:
2014
= ($24 Membership Fee)x(2,419,000 Mormon and non-Mormon Scouts) = $58,056,000 per year in Membership Fees
2019
= ($33 Membership Fee)x(1,871,000 non-Mormon Scouts) = $61,743,000.00 per year in Membership Fees
In the worst case scenario, where (1) 470,000 Mormon scouts all leave at once, (2) the BSA does not add or lose any other non-Mormon scouts (girls, LGBT, or otherwise) to its ranks, and (3) Mormon scouts paid the same dues as everyone else, the BSA still makes $3,687,000 MORE revenue without LDS scouts in its ranks than the organization made with LDS scouts.
However, we know not all 470,000 LDS scouts are leaving at once as some will stick around for a year or more to complete their Eagle Scout Award. We also know LDS scouts do not paid the same dues as everyone, as show by the BSA's own 2014 Financial Statement:
The Boy Scouts of America (BSA), consisting of 280 local councils, continued to deliver an exciting and valuable program to young people in 2014, with approximately 2,419,000 youth members and Explorers registered in individual programs. Approximately 981,000 registered adult leaders provide support to these youth.
Fees decreased in 2014 by $9,934 with the absence of the 2013 National Scout Jamboree fees totaling $32,784. This is offset by a membership fee increase effective January 1, 2014, which led to increased membership revenues despite a decline in membership.
The 2014 Financial Statement reports Revenue generated from Registration (Membership) Fee was $62,732,000 in 2014 with 2,419,000 youth and 981,000 adults.
($24 Membership Fee per youth/adult)x(3,400,000 youths and adults) = $81,600,000
This is $18,868,000 more than revenues reported by the BSA's 2014 Financial Statement - there are approximately 786,167 youths/adults ($18,868,000/$24 Membership Fee) missing from the 2014 Financial Statement. As the Utah BSA Councils stated to the Salt Lake Tribune:
The national BSA normally charges a $24 registration fee for each Scout and adult leader per year. However, a 2015 statement from the three BSA councils in Utah said those fees "are negotiated between the national BSA and the LDS Church. All registration fees are retained at the national BSA level."
Ironically enough, depending on how large a discount on membership fee LDS scouts get, the BSA National Organization may be earning way more revenue from its membership fees with the exit of the LDS and the addition of young women and the LGBT community into its ranks.
Local Council Service Fees
This fee is two parts paid on a yearly basis by each of the 280 Local BSA Councils across the nation.
The first is a fixed charter fee of $1,000 – this fee can be waived if the Local BSA Council turns in its Renewal Application before Mar. 1 of each year.
The second is the National Service Fee. The final amount of this fee is based upon data extracted from the council’s general ledger, and using the following formula:
(1) 2015 professional salaries (account No. 7002) for all funds (all funds being defined as Operating, Capital, and Endowment)
(2) 2015 office salaries (account No. 7003) for all funds (all funds being defined as Operating, Capital, and Endowment)
(3) Calculate the qualifying salaries for use in determining the 2017 national service fee (sum of figures 1 and 2 above)
(4) The council’s national service fee for 2017 is 3.5 percent of the qualifying salaries above* (multiply figure 3 above by .035)
*For those councils that will be charged a national service fee of $40,000 or greater for the year 2016, their fee will increase at the same rate of qualifying salary growth from 2014 to 2015, not to exceed 10 percent.
Examples: (1) If the council’s 2016 national service fee will be $48,783 and the qualifying salaries recorded in accounts 7002 and 7003 increased by 6.2 percent from 2014 to 2015, then the council’s national service fee for 2017 would also increase by 6.2 percent, or be $51,808.
(2) If the council’s 2016 national service fee will be $48,783 and the qualifying salaries recorded in accounts 7002 and 7003 were the same or decreased, the council agrees to and will be invoiced a national service fee of $48,783 for 2017.
The National Service Fee is pegged to the professional and office salaries of those employed in the BSA Local Council – changes in the number of scouts a local council has will not impact the National Service Fee assessed. Hence, across the nation, only Local BSA Councils at risk for closing because they do not serve enough scouts will be impacted.
Currently, only three BSA Councils are anticipated to be at risk of closing:
The BSA National Organization is likely to lose the following yearly revenue generated by the National Service Fee for these three Councils should they be dissolved:
  • GSL = $57,578
  • UNP = $89,166
  • TT = Unknown; Estimated to be average of GSL and UNP -> $73,372
In a worst case scenario, should all three Utah Councils go under, the BSA will lose at most $220,116/yr in National Service Fees due to the LDS split. In 2016, the BSA made $5,994,000 from interest and dividends alone on its investments - $220,116/yr is an easily absorbable loss.
Investment Income
In short, investments are affected by market conditions – not by the internal affairs of a single non-profit. Regardless, a short summary of the BSA’s investments:
Endowment Total
Balance Dec 21, 2015 $250,233,000
Investment return: -
Interest and Dividends $5,994,000
U Gains $20,599,000
Investment Manager Fee ($910,000)
Net investment return $25,683,000
Scouting and Boys’ Life magazines
The BSA National Organization’s flagship magazine is actually one area the BSA could really feel the hurt – nearly ever year Financial Statements were kept, the magazine’s revenue declined until hitting negative in both 2015 and 2016.
While the LDS/BSA split will certainly not help this situation, the BSA magazine has been declining in revenue for the last decade. Clearly the BSA needs to consider either scrapping the magazine entirely or moving to more cost effective options like sending out electronic subscriptions over email to save on printing costs.
Year Magazine Revenue
2005 $2,786,000
2006 $2,742,000
2007 $3,217,000
2008 $2,025,000
2009 $1,928,000
2010 $2,099,000
2011 $957,000
2012 $1,054,000
2013 $903,000
2014 $185,000
2015 ($753,000)
2016 ($2,651,000)
In short, the BSA magazine was an issue before the LDS/BSA split and will continue to be an issue long after the split. Again though, the BSA can temporarily cover this loss in revenue with gains in other areas of the organization – such as $5,994,000 interest gains on investments.
Sale of uniforms and equipment
Unlike the BSA flagship magazine, uniform and trading post sales have nearly tripled from 2005 to 2016, benefiting from a new wave of low overhead online shopping. While it remains to be seen how these sales might be impacted by the loss of 470,000 scouts, the addition of new demographics into the Scouts program means new uniforms and new equipment.
Year Trading Post Sales Revenue
2005 $5,953,000
2006 $4,278,000
2007 $4,108,000
2008 $6,559,000
2009 $4,835,000
2010 $7,702,000
2011 $12,246,000
2012 $8,232,000
2013 $10,495,000
2014 $10,773,000
2015 $14,892,000
2016 $13,367,000
Even in the most extreme situation where 20% loss of membership = 20% loss of Uniform and Equipment revenue, a 20% reduction in 2016 Sales means ($$13,367,000) - ($13,367,000)(0.20) = $10,693,600.00 in 2019 Sales Revenue -> Still better than almost every year up to 2014.
Contributions from Individuals
Individual contributions rose considerably in the 11 years spanning from 2005 to 2016, but at an unpredictable rate. The BSA will certainly be missing out on contributions given by LDS families, but the BSA has such a large endowment ($218,224,000 in invested assets in 2016) that the organization will be able smooth out any transition period between the LDS leaving and new demographics entering.
Year Contributions and Bequests
2005 $8,377,000
2006 $5,191,000
2007 $10,659,000
2008 $15,255,000
2009 $54,431,000
2010 $65,405,000
2011 $61,041,000
2012 $27,030,000
2013 $37,457,000
2014 $54,495,000
2015 $28,191,000
2016 $33,535,000

Ms. Peggy Stack and Mr. Lee Davison from The Salt Lake Tribune wrote an interesting article back in August on a topic generating much discussion with the Boy Scouts and Latter-Day Saints Wards – how badly will the BSA be hit financially for losing approximately 20% of its members in 2020 when the LDS Church officially parts ways with the Boy Scouts? In short, the Ms. Stack and Mr. Davison come to the conclusion any split will…
…have dire financial consequences for BSA. The LDS Church is far and away the nation's largest Scouting sponsor, serving 437,160 boys in 37,933 troops.
In 2013, more than a third (37 percent) of troops were LDS sponsored, accounting for 18 percent of the BSA's 2.4 million total membership (Mormon troops, while more numerous, tend to be smaller in size).
An LDS Church withdrawal also could ruin the three Scout councils in Utah, which say between 96 percent and 99 percent of their members are in Mormon units.
In Utah, the three councils say they have a combined 320,000 registered Scouts and adult leaders, the vast majority of whom are Mormon. Losing them could bring big financial blows to Scouting.
For example, the national BSA normally charges a $24 registration fee for each Scout and adult leader per year. The fee just for Mormon youths would cost $10.5 million a year. However, a statement from the Utah councils says those fees "are negotiated between the national BSA and the LDS Church. All registration fees are retained at the national BSA level."
In Utah, the Orem-based Utah National Parks Council says 99 percent of its Scouts are in LDS units. The Salt Lake City-based Great Salt Lake Council says 98 percent of its Scouts are. And the Ogden-based Trapper Trails Council says 96 percent of its youths are in Mormon-sponsored units.
Each year, the LDS Church supports a "Friends of Scouting" drive to ask members for donations to boost the local Scout councils — money which could disappear if the faith leaves. The Utah National Parks Council says the Friends of Scouting push provides 43 percent of its budget; the Trapper Trails Council says it generates 36 percent; and the Great Salt Lake Council receives 34 percent of its money from the effort. "The large majority of Friends of Scouting funds come from LDS units," according to the joint statement from the councils.
Questions also arise about what may happen to the many Scout camps in Utah if the LDS Church exits the organization.
In response to Salt Lake Tribune questions, the local councils wrote, "All camp properties are either owned by the council or are leased properties from the Forest Service. Each council is a 501(c)3 corporation separate from the Boy Scouts of America or any other council. The properties would continue to serve Scouting and the needs of religious and other youth groups in our communities."
There is a lot to unpack in this article. We have already covered facts concerning BSA's suprsingly solid financial footing despite loosing 20% of its membership. Let’s next focus on what Local BSA Councils are and what happens when Local BSA Councils dissolve.
BSA Organization and Local BSA Councils in Utah
The Organization of the Boy Scouts of America is a topic that requires a post of its own (conveniently found here!). In short, the BSA is run by a National Executive Council that, among other functions; develops program; sets and maintains quality standards in training, leadership selection, unforming, registration records, literature development, and advancement requirements; and publishes Boys' Life and Scouting magazines.
The National Executive Council does not attempt to administer directly the more than 150,000 registered Boy Scout units (troops, packs, venturing crews, etc.). To achieve this, each year, the National Council issues a charter to an autonomous organization called a Local Council. The United States and its territories is divided into local councils. Local councils are usually not-for-profit private corporations registered within the State in which they are headquartered.
The State of Utah actually has five Local BSA Councils - not three - however, The Salt Lake Tribune can be forgiven for this slight accounting error because: (1) the Great Southwest Council (GSW) is headquartered in Albuquerque, New Mexico, and provides Scouting to 7,260 youth in northern New Mexico, northeast Arizona, Utah south of the Colorado River, and the Durango and Mesa Verde areas of Colorado; and (2) the Snake River Council (SN) serves a number of Scouts in Idaho, Nevada, and Utah.
There are three Utah based BSA Councils who are composed of between 96% - 99% Mormon youth and focus only on the State of Utah:
Of these five Local BSA Councils, only GSL, UNP, and TT are at risk of dissolving in 2020 once the Latter-Day Saints Church officially splits from the BSA. Both GSW and SN have enough geographic dispersment and diversity of membership to survive the split relatedly unscathed.
So what would happen if a Local BSA council suddenly dissolved?
Well fortunately the Boy Scouts of America have been around for nearly 120 years as a national youth organization, and in this time plenty of Local BSA Councils have come and gone. Hence, the BSA National Executive Council has had plenty of time to develop and enact procedures for what happens to Local BSA Councils when they dissolve:
BSA Rules and Regulations; III. Local Councils
Council or Unit Assets Upon Dissolution
Consistent with the Bylaws, in the event of the dissolution of a council or the revocation or lapse of its charter, the Executive Committee may, at its option, authorize the National Council to assume charge of the affairs of the council and continue operation pending reorganization or reestablishment of the council or wind up the business of the council. All funds and property in the possession or control of such council must be applied to the payment of the council’s obligations. Any surplus funds or property may thereafter be administered as deemed to be in the best interests of Scouting.
In the event of the dissolution of a unit or the revocation or lapse of its charter, unit funds and assets must be used to first satisfy any outstanding unit obligations. Any remaining assets obtained with funds raised in the name of Scouting must be redeployed for Scouting use in the local area. Any assets obtained with funds from the chartered organization or parents of registered members may be redeployed as agreed upon by the chartered organization and local council.
Any property or funds acquired by the National Council upon the dissolution of a Scouting unit or local council will be administered so as to make effective, as far as possible, the intentions and wishes of the donors.
Real Estate
Except as hereafter provided with respect to incorporated local councils, the title to all real estate acquired for a unit or local council must be vested in a bank or trust company, in trust for the use of the unit or local council in accordance with the wishes of the donor with the provision that if such property cannot be utilized in such a manner, and title does not revert to the donor, that title or beneficial use of the property must nonetheless be for the benefit of Scouting in the local area.
Any incorporated local council may hold title to real property in its own name provided that in the event of the dissolution of the unit or council or the revocation or lapse of its charter said trustee or trustees will, after satisfying any claims against such unit or council to which such real estate may be subject, convey said property or, if sold, pay the net proceeds of such sale to the Boy Scouts of America, which may hold or use said property or funds for the benefit of Scouting in such locality or elsewhere if there is not suitable opportunity to use said property or funds in such locality. Any incorporated local council holding title to real property in its own name must ensure that its certificate or articles of incorporation expressly provide for the conveyance of such property or the net proceeds from the sale thereof to the Boy Scouts of America in the event of the dissolution of the local council or the revocation or lapse of its charter in a manner consistent with this provision.
Restricted Funds
Restricted funds received by a unit or local council must in all cases be held (a) in trust by either a corporate trustee for a bank or trust company, the National Boy Scouts of America Foundation, or the Boy Scouts of America Endowment Master Trust; or (b) in the Boy Scouts of America Commingled Endowment Fund LP for the use of the unit or the local council, in accordance with the wishes of the donors, with the provision in the statement of the conditions governing the administering of the funds that in the event of the dissolution of the unit or council or revocation or lapse of its charter said funds will, after any claims against said funds are satisfied, be turned over to the Boy Scouts of America for use by the Boy Scouts of America for the benefit of Scouting in such locality and for the specific purposes for which the fund was granted. If there is no suitable opportunity for the use of said funds in such locality, they may be used elsewhere.
This is A LOT to unpack, but here are the highlights;
Registration
  • Every Local BSA Council across the US is registered as a separate 501(c)3 corporation separate from the Boy Scouts of America or any other council. Every Council owns assets and liabilities separate from the BSA parent organization.
  • However (and this is very important), every Local BSA Council, including all five Councils in the State of Utah, are legally bound to the rules and provisions as laid out by the BSA Executive National Committee. These rules clearly spell out the actions that will be taken once a Council is dissolved, including the BSA’s right to all of the Council’s property and most of the Council’s assets.
Steps Taken Upon Utah Council Dissolution
  • (1) National Committee will step in and take control of all Utah Local BSA Councils under threat of dissolution. The Committee will do everything in its power to keep the Local Councils alive including moving remaining scouts to other troops or other councils in extreme cases. You can already see this process starting with the GSL Council here.
  • (2) If the Local BSA Council cannot be saved, then the Councils will be permanently shuttered. Now here is where things get really interesting – all Local BSA Council assets and liabilities are turned over to the BSA Executive Council. These assets are first used to pay off all outstanding debt carried by the Local BSA Council. The remaining assets “raised in the name of Scouting” will be kept by the BSA Executive Council, while assets “obtained with funds from the chartered organization or parents of registered members may be redeployed as agreed upon by the chartered organization and local council.”
  • Real Estate - Any buildings and land owned outright by Local BSA Councils is first used to pay off outstanding liabilities. After this, the buildings and land is turned over to the BSA Executive Committee to be given over to other BSA Local Councils. If no other Councils can make use of the property or land, the real estate is sold off and the funds are kept by the BSA to deploy to other Local Councils across the nation. This will be important when we examine the Financial statements of Utah Local BSA Councils next.
So now that we have an idea of the process each Local BSA Council must go through if it dissolves, lets look at what assets and liabilities two Utah BSA Councils have which, at least on paper, will be turned over to the BSA:
GREAT SALT LAKE COUNCIL CONSOLIDATED FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION - 2016
CONSOLIDATED STATEMENT OF FINANCIAL POSITION ASSETS
CURRENT ASSETS 2016 USD AMOUNT
Cash and cash equivalents $3,845,891
Accounts receivable $25,779
Pledges receivable $84,365
Note receivable $91,456
Inventories $117,699
Due from (to) other funds -
Deferred activity expenses $1,011,094
Prepaid expenses $46,379
Note receivable from subsidiary -
TOTAL CURRENT ASSETS 5,222,663
NON-CURRENT ASSETS 2016 USD AMOUNT
Note receivable, less current position $746,432
Cash restricted to investment L/B/E $456,392
Land/Buildings/Equipment, net $17,084,440
Due from (to) other funds -
Note receivable from subsidiary -
Long-term investments $5,571,352
Investments in subsidiary -
Deferred income taxes $33,400
Other assets $4,290
TOTAL NON-CURRENT ASSETS $23,896,306
TOTAL ASSETS $29,118,969
LIABILITIES
CURRENT LIABILITES 2016 USD AMOUNT
Current position of long-term debt $205,625
Accounts payable $639,138
Accrued expenses $54,610
Custodial accounts $85,079
Deferred income $1,153,079
Other current liabilities -
TOTAL CURRENT LIABILITES $2,137,531
LONG-TERM DEBT, net of current position $2,202,476
OTHER NON-CURRENT LIABILITES $1,643,304
TOTAL LIABILITES $5,983,311
What do these numbers mean?
In 2020, approximately 72,844 Mormon scouts (98% of the GSL) will walk away from the GSL leaving approximately 1,487 non-Mormon scouts behind. The BSA National Executive Committee will take over the GSL, and take control of $29,118,969 in assets and $5,983,311 in liabilities that the Latter-Day Saints Church walks away from. Lets look at some interesting things the LDS Church is leaving behind (at least initially and according to the BSA Bylaws) to the Boy Scouts:
  • $84,365 Monetary Pledges from mostly Mormon Scout Families in 2016
  • $17,084,440 in Land, Buildings, and Leaseholds in 2016; This figure includes construction costs for the Thomas S. Monson Lodge which amounted to $6,229,000. It is likely the lodge will retain its name when it is initially turned over to the BSA as seen in past cases of councils dissolving. It also includes 564.82 acres purchase the on the East Fork of the Bear River from the State of Utah Schools and Institutions Trust Lands Administration (“SITLA”), as well as the Federal lease ownership of Camp Steiner. Additionally, Hinckley Scout Ranch and Millcreek Canyon Camps will be initially retained by the BSA.
  • The following Money Market Accounts, Treasury Notes, Corporate Bonds, and Real Estate Trusts:
INVESTMENTS 2016 USD AMOUNT
Money Mkt Accounts $900,822
Fixes Income Securities: -
U.S. Treasury Notes $117,964
Corporate Bonds $50,326
Mortgage Backed Gov Sec $287,747
Mutual Funds: -
Domestic $735,224
International $696,577
Equities: -
Domestic $1,099,311
International $628,107
Real Estate Investment Trusts $478,477
Alternative Investments $576,767
TOTAL $5,571,352
It goes without saying this level of professional investment is really really unique to find in a Local BSA Council. I honestly have never seen anything like this – though I do come from a poor and tiny Local BSA Council.
On a side note, “Alternative Investments” is accounting slang for things like Bitcoin – so it is pretty humorous to think there is a remote possibility that scouting in Utah could be funded in part by Bitcoin.
  • The following land restrictions:
“The Council owns two parcels of land, which have permanent restrictions on them. The Council’s Headquarters is on a piece of land that was given to the Council as long as it is used as the Scout Headquarters. The property’s restriction was removed in 2016 through the Council’s payment of $1,590,000 to the holder of the restrictions. The other restricted property is the Bear Lake Camp in Rich County, Utah, which represents approximately 289 acres that was given to the Council to use strictly as a Boy Scout Camp.”
  • The purchase of the Council Headquarters land in 2016 to remove the Boy Scout restriction is an interesting move. This move was made around the same time the LDS Church began to take active measures to claw back as much as it could from Local BSA Councils around the US before announcing a split in 2018. No matter what happens with this split, the LDS will lose Bear Lake Camp to the BSA.
Summary of GSL Council Dispersal of Assets and Liabilities
$29 million in assets is at stake for both the BSA and the LDS in the termination of just one BSA Council. It is clear from a legal standpoint all assets and liabilities will be initially turned over to the BSA in an attempt to salvage the GSL Council. It is also clear that should these efforts fail, approx. $6 million in assets will be sold off to cover the existing debt. From this point forward, the BSA has legal claim to all the property holdings of the GSL Council and can choose to retain this property or sell some, all, or parts of these properties to the LDS or other organizations. The only certainty from a real estate perspective is that the BSA will retain ownership of Bear Lake Camp due to deed restrictions as well as the Federal lease for Camp Steiner. What will happen to other non-real estate assets is less clear, but the language of the BSA bylaws asserts the BSA will make a determination which assets to keep and which to return or sell back to the LDS.
UTAH NATIONAL PARKS COUNCIL - 2014
In the interest of type space, time, and because Hinton & Burdick are awful awful people for inverting their Financial Statement, I will not be inserting this F/S into the post. I left the link above to the UNP Financial Statement if anyone wants to go hog wild. [2014 is the newest F/S posted]
Big take aways after reviewing the 2014 UNP Financial Statement:
  • Total Assets in 2014: $17,275,633; Total Liabilities: $734,307
  • $2,941,642 invested in Securities and REIT
  • $244,838 in total contributions
  • $10,731,547 in Land, Buildings, and Equipment
  • $124,500 in Scout Camp land is permanently earmarked for the BSA
  • $3,241,341 in total endowments
There isn’t really much more that can be said for the UNP that wasn’t already covered by our discussion of GSL. In short, the BSA will initially retain all assets and liabilities of the UNP, and should the UNP resolve, $734,307 in assets will be liquidated to cover existing debt. The remaining $10,731,547 is legally owned by the BSA with some, part, or all of these holdings being either retained or sold off the LDS or other third party interests. Part of the remaining $5,809,779 will either be retained by the BSA as it was raised for the purpose of scouting, while an unknown portion will be returned to the LDS Church.
Unfortunately after an exhaustive search online, no Financial Statements for TT could be found.
Roughly Estimating the Final Cost to the LDS from the BSA Split
So how much does the Latter-Day Saints Church lose by parting ways with the Boy Scouts? Well a rough estimation can be made with the following assumptions in mind:
  • (1) Assuming the LDS Church will either lose control of all land held by the BSA Councils or will have to buy the land back; [In reality some land will be gifted or donated back to the Church by the BSA]. Either way, all assets found in the “Land, Buildings, and Equipment” ledger of both Financial Sheets will be given to the BSA. GSL = $17,084,440 [Real-Estate (RE)]; UNP = $10,731,547 [RE]
  • (2) Assuming all liabilities are paid off by non-real estate assets dollar for dollar; [In reality, there will be a cost to manipulating assets and debts in a short term]. **GSL = $6,051,218 [Total Assets (TA) - Liabilities (L) - RE]; UNP = $5,809,779 [TA – L – RE]
  • (3) Assuming remaining assets are equally split between BSA and the LDS Church; [In reality, it is unknown how much of the remaining assets the BSA will retain after covering debt and securing real estate]. **GSL = $3,025,609 [$6,051,218 / 2]; UNP = $2,904,890 [$5,809,779 / 2]
  • This puts total LDS losses from the GSL ($20,110,049) and UNP ($13,363,437) at $33,746,49.
  • It is not unreasonable to assume TT will exact similar loses on the LDS Church as did GSL and UNP despite having no available Financial Statement. For this reason, the average of GSL and UNP was taken as the losses exacted by TT. Hence, TT = $16, 873,243 [$33,746,49 / 2].
It is from these assumptions we can arrive at a ball park figure of the LDS Church surrendering $50,619,728 in assets to the BSA in just the dissolution of three Utah BSA Councils.
This figure does not account for the substantial investment the LDS Church has put into other BSA Councils across the US, or the invest Mormon families have made in paying for Scouting uniforms, campouts, membership fees, and other costs. This figure also does not take into account the $50 million or more it will take to replicate a youth organization on the same scale as the Boy Scouts.
With this said, Bloomberg reports the Mormon Church collects $8 Billion a year in tithing alone from its wards around the world - $50 million lost plus another $50 million or more invested in creating a new youth organization is a drop in the bucket for the LDS Church and more than worth the expense to create a program better suited to the LDS Church’s international missionary needs.
submitted by Zfriske to BSA [link] [comments]

Updated FAQs for newcomers

TL:DR: Don't bother mining if you want to get rich yo. You're way too late to the party.
Welcome to the exciting and often stressful world of bitcoin! You are wondering what looks like a once in a lifetime opportunity to get rich quick. Of course you guys probably heard about this "mining" process but what is this?
Simply put, a bitcoin mining machine that performs complicated calculations and when deemed correct by the network, receives a block which contains 25 bitcoins (XBT). This is how bitcoins are generated. So your brain instantly thinks, "Holy shit, how can I get on this gold rush?"
Before you proceed further, I would like to explain the concept of mining further. Bitcoin is limited 21m in circulation. It is coded to release a certain number of blocks at a certain time frame, ie: this year the network will release close to 500,000 bitcoins. What this means is that the more people (or specifically the amount of mining power) mine, the less each person gets. The network tries to keep to this time frame through the process of difficulty adjustments which makes the calculations harder and this happens every 2 weeks. So every 2 weeks, you get less bitcoins with the same hash rate (mining power) based on what the difficulty changes are. Recently, the changes have been pretty staggering, jumping 226% in 2 months. You can see the difficulty changes here.
Now, why are these changes so large?
A bit of a simple history. Bitcoin's algorithm runs on SHA-256. This algorithm can be solved using many hardware, from CPU to GPU and dedicated hardware (Application Specific Integrated Circuits). When bitcoin first started, mining on CPU was a trivial process, you can pretty much earn 50 XBT (the block size then) every few hours between Q1 and Q2 of 2010.
In late 2010, due to the difficulty increase that is reducing the effectiveness of CPU mining, people started to harness GPU mining. Only AMD GPU's architecture design are better optimized for bitcoin mining so this is what the community used. Immediate improvements of more than 10x was not uncommon.
In time of course, GPUs reached their limit and people started to build dedicated. In the same vein as the CPU to GPU transition, similar performance increase was common. These ASICs can only perform SHA-256 calculation so they can be highly optimized. Their performance mainly depends on the die size of the chips exactly like CPU chips.
In general, think of bitcoin mining's technological advancement no different to mining gold. Gold panning (CPUs) vs pickaxes (GPUs) vs machinery (ASICs) and we are still in the ASIC mining race.
ASIC mining started with ASICMiner and Avalon being first to the market, both producing 130nm and 110nm chips. The technology are antiquated in comparison to CPUs and GPUs which are now 22nm with 14nm slated for Q1 next year by Intel but they are cheap to manufacture and with performance gains similar to the CPU to GPU transition, they were highly successful and popular for early adopters. At that point in time since there were less competing manufacturers and the low batch runs of their products, miners became really rich due to the slow increase in difficulty.
The good days came to an end mid August with an unprecedented 35% increase in difficulty. This is due to existing manufacturers selling more hardware and many other players coming onto the market with better hardware (smaller die). Since die shrinking knowledge and manufacturing process are well known along with a large technological gap (110nm vs 22nm), you get an arms race. Current ASIC makers are closing in on our technological limit and until everyone catches up, the difficulty jumps will be high because it is just too easy to get a performance increase. Most newer products run at 28nm and most chips are not well optimized, so it will be around another 6 to 9 months before we see hit a hard plateau with 22nm or 14nm chips. The estimated time frame is because manufacturing chips at 22nm or 14nm is a more difficult and expensive task. In the meantime most manufacturers will probably settle at 28nm and we will reach a soft plateau in about 3 months.
Now, you might ask these questions and should have them answered and if you have not thought about them at all, then you probably should not touch bitcoin until you understand cause you are highly unprepared and probably lose lots of money.
No. If you have to ask, please do not touch bitcoin yet. You will spend more on electricity cost than mining any substantial bitcoin. Seriously. At all. A 7990 would produce a pitiful 0.02879 XBT (USD $14 @ $500/XBT exchange rate) for the next 30 days starting 23 Nov 2013 at 35% difficulty increase.
And if you think you can mine on your laptop either on a CPU or GPU, you are probably going to melt it before you even get 0.01 XBT.
Probably not because you probably forgot that GPUs and CPUs produce a ton of heat and noise. You can try but I see no point earning < $20 bucks per month.
No, because your machine will probably not mine as much as buying bitcoins. This situation is called the opportunity cost. While you can still make money if XBT rise in value, it is a fallacy.
IE: if you start mining on 1 Dec 2013, a KnC Jupiter running at 450Gh/sec (KnC lies as not all chips run at 550Gh/sec) will yield you a total revenue of 9.5189 XBT with a profit of 0.7859 XBT in profit by 30th Jan 2014 at a constant difficulty increase of 35%. The opportunity cost is: 8.5910 XBT @ USD $580/XBT with USD $5,000 which is the cost of a KnC Jupiter. This is the best you can earn and it's a bloody optimistic assumption because:
The only circumstances where you will earn money is when XBT exchange rates is so high that it makes the opportunity cost pales in comparison. Unfortunately this is not the case. If XBT stabilized at 900/XBT today (20 Nov 2013) then we might have a good case.
The risk is just generally not worth it. Unless you have at least a hundred thousand and can make a contract with a manufacturer for a lower cost, do not bother. Just wait until the arms race is over then you can start mining.
Okay, go buy an AsicMiner USB Block Erupter. They are cheap and pretty fun to have.
Sure, just read the answer below on who NOT to go for. You are doing bitcoin a service by securing the network and you have our (the users') gratitude.
You can check out the manufacturers and their products below along with a calculator here.
If you still insist on buying, do not to go for BFL. Their track record is horrid and borderline scammish. KnC fucked up a lot with defective boards and chips. Personally, I think CoinTerra is the best choice.
Alternatively, you can go on the secondary market to buy a delivered product. You can get a better deal there if you know how to do your "return on investment (ROI)" calculation. Personally, I will go for a 45%-50% difficulty increase for the next 3 months for my calculations and a 2% pool fee.
However, most products on ebay are sold at a cost much higher than it should. bitcointalk.org is a cheaper place because everyone knows what are the true value is so you will find less options. If you are unclear or need assistance, please post a question.
I actually do not use any of the pools recommended to the left because I think they lack features.
My favourite is Bitminter (Variable fees based on features used; max 2%). It has all advanced features for a pool, very responsive and helpful owner on IRC. Variable fees is good for those who do not need a large feature set, even with all features turned on, it is still cheap.
Eligius (0% fees) has high value for money but lacks features. It has anonymous mining which might be attractive to certain subset of people but not for others. Many other community member and I disagree highly with the opinions of the owner on the direction of bitcoin. I do use his pool for now but I do so only because I share my miners with a few partners and anonymous mining allows us to monitor the machines without using an account. Bitminter uses only OpenID which is problematic for me.
BTC Guild (3% fees) is another big pool and is fully featured and does charge a premium for their fees. That said, they are the most stable of the lot. I do use them but do so only because my hoster uses them for monitoring. I try not to use them because a pool with a very large hash rate (they are the largest) presents a large vulnerability to bitcoin's network if compromised.
All of them pay out transaction fees.
submitted by Coz131 to BitcoinMining [link] [comments]

How I overcame my gaming addiction.

Hello, today begins my new life challenge, one that I have been planning for a long time now. I am a 21 year old Canadian guy who is studying Software Engineering at University. My grades, as of now, are average given that my CGPA is 3.3/4.3 (B+ average OR 77-79%). I strongly believe that online video games has had a negative impact on my ambition, my academics and my overall life. I would like to share, with you guys, my action plan to quit gaming ,my thoughts, and hopefully help or inspire someone.

My Gaming History

After reading a couple of posts in this sub-reddit, I have always been curious about what games or consoles the authors were addicted to. I think that it can help the readers relate more.  

My Gaming Play Times

I only listed the games where I spent more than 50 hours or that I could calculate the number of hours played. For this reason, all the games in older consoles are not listed.  
Game Playtime
Dota 2 1526 hours (64 days)
Modern Warefare 2 50 days approx.
Runescape 50 days approx.
Black Ops 25 days approx.
League of Legends 537 hours (22 days)
Call of Duty 4 20 days approx.
Fallout 3 400 hours (17 days)
Steam Games (excluding ones on this list) 371 hours (15 days)
Monster Hunter Freedom 2 200 hours (8 days)
Counter Strike Source 133 hours (6 days)
TOTAL HOURS 6647 (277 days)
 
Analysis  
It is shocking to me that I wasted AT LEAST 277 days of my life playing video games and as of now, I did not benefit in any way from it. It's quite the opposite; gaming screwed up my eye sight (- 4.00 prescription), got me out of shape, and all that time was quick pleasure without long term benefits. If I had worked all that time for the minimum wage (assume CND $10), I could have earned theoretically $66,460. Also, if I had studied or worked out, I bet I would not be writing this post.  

My Thoughts of Gaming

As of now, September 2016, I believe that some video games are a work of art, while others are just made for pure profit. I know that a handful of people can make a living out of video games using platforms such as Twitch and YouTube. Additionally, professional gamers can earn millions of dollars in competitions. However, that is not my case what so ever. When it comes to me, gaming is a waste of time, since I do not gain any benefits other than forget about the things that I should be doing. I also used to get this weird feeling of regret every night after I spent all day gaming. Every night I would say "tomorrow I will be productive", but the next day my urge of gaming brings me back to my pc to game all day. That cycle repeated so many times. Don’t take me wrong, gaming has a bright future with the constant technology improvements such as VR, and a growing industry. I felt like buying a new gaming rig after watching the Battlefield 1 trailer for the first time. I am glad that I didn't. I don’t consider gaming with moderation a bad activity. I just cannot control myself, so the problem is me.

Why am I quitting?

The main reason why I am quitting gaming is for a better future. If I continue gaming at this frequency, I will regret it later when my friends start getting married, landing nice jobs, starting companies or buying houses. The numbers that are on the table were shocking to me, and I was quite ashamed to be honest. I hesitated to post them, but I did to help you guys realize how many hours we waste on gaming. I am happy that I still have control of my life and that I realized this before something happened.  
Another reason is because I am starting to feel old when I play online games. I don’t like the feeling that I get when I play online video games, and there are 11-12 year old kids in the same lobby as me. I feel as though I am wasting my life. There are also new activities that I want to try, such as video editing and vloging. I think that I spent enough time gaming (see the table above), and it is time to move on.  
I am just glad that I realized how many hours, I have wasted and that it is not too late now. Hopefully, I also helped one of you guys realize that you were in the same sinking boat.

My Action Plan

I think that in order to quit gaming, you must have a strong action plan.

My Plans For the Future

I intend to do activities/changes that will benefit me in the future. I will list a few the activities that I plan to do before Summer 2017.  
submitted by fabri_jinga to StopGaming [link] [comments]

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fee,.,0.15,.,bitcoins,.,0 25,.,bitcoins,.,0.05,.,bitcoin,.,in euro,.,bitcoin,.,2.0,.,0.1,.,bitcoins,.,0.21,.,bitcoins,.,bitcoin,.,1st august,.,bitcoin,.,1 million,.,bitcoin,.,101,.,bitcoin,.,10 year chart,.,bitcoin,.,10000,.,bitcoin,.,148,.,,.,bitcoin,.,10 year prediction,.,bitcoin,.,100k,.,bitcoin,.,100 dollars,.,bitcoin,.,10 years ago,.,1,.,bitcoin,.,in gbp,.,1,.,bitcoin,.,in pounds,.,1,.,bitcoin,.,in £,.,1,.,bitcoin,.,to dollar,.,1,.,bitcoin,.,in inr,.,1,.,bitcoin,.,to euro,.,1,.,bitcoin,.,in gdp,.,1,.,bitcoin,.,in eur,.,1,.,bitcoin,.,to myr,.,1,.,bitcoin,.,in sterling,.,bitcoin,.,2010,.,bitcoin,.,2017,.,bitcoin,.,2020,.,bitcoin,.,2018,.,bitcoin,.,2009,.,bitcoin,.,2013,.,bitcoin,.,21 million,.,bitcoin,.,2012,.,bitcoin,.,2014,.,2,.,bitcoin,.,to usd,.,2,.,bitcoin,.,price,.,2,.,bitcoin,.,to inr,.,2,.,bitcoin,.,wallets,.,2,.,bitcoins to dollars,.,2,.,bitcoins free,.,2,.,bitcoins a month,.,2,.,bitcoin,.,qt,.,bitcoin,.,2 year chart,.,bitcoin,.,2 paypal,.,bitcoin,.,3000,.,bitcoin,.,31st july,.,bitcoin,.,3 confirmations,.,bitcoin,.,3.0,.,bitcoin,.,3 year chart,.,bitcoin,.,3 month chart,.,bitcoin,.,300,.,bitcoin,.,365 club,.,bitcoin,.,3000 usd,.,bitcoin,.,30 confirmations,.,3,.,bitcoins in gbp,.,3,.,bitcoins,.,3,.,bitcoins to usd,.,3,.,bitcoin,.,in euro,.,3,.,bitcoin,.,to eur,.,bitcoin,.,3 unlimited,.,bitcoin,.,3 day chart,.,bitcoin,.,3 address,.,bitcoin,.,4000,.,bitcoin,.,4chan,.,bitcoin,.,4 billion,.,bitcoin,.,401k,.,bitcoin,.,4 backpage,.,bitcoin,.,43,.,bitcoin,.,40000,.,bitcoin,.,4k,.,bitcoin,.,4 year chart,.,bitcoin,.,48,.,4,.,bitcoins,.,4,.,bitcoins to usd,.,4,.,bitcoins in gbp,.,4,.,bitcoin,.,to eur,.,bitcoins 4 backpage,.,bitcoin,.,4 igaming,.,bitcoin,.,4 u,.,bitcoin,.,4 november,.,bitcoin,.,4 cash,.,bitcoin,.,5 year chart,.,bitcoin,.,51 attack,.,bitcoin,.,500,.,bitcoin,.,5 year,.,bitcoin,.,500 000,.,bitcoin,.,5000,.,bitcoin,.,50000,.,bitcoin,.,5 year price,.,bitcoin,.,5 years ago,.,bitcoin,.,5 year forecast,.,5,.,bitcoins in pounds,.,5,.,bitcoins,.,5,.,bitcoins to usd,.,5,.,bitcoin,.,free,.,5,.,bitcoin,.,in euro,.,bitcoin,.,5 years,.,bitcoin,.,5 minutes,.,bitcoin,.,5 min,.,bitcoin,.,5 unlimited generator,.,bitcoin,.,666,.,bitcoin,.,6 months,.,bitcoin,.,6 confirmations,.,bitcoin,.,6 month chart,.,bitcoin,.,6000,.,bitcoin,.,60 minutes,.,bitcoin,.,6 confirmations time,.,bitcoin,.,6 month price,.,bitcoin,.,6 years ago,.,bitcoin,.,60 day chart,.,6,.,bitcoin,.,network confirmations,.,,.,
submitted by besterse to BestCryptoPlatform [link] [comments]

Bitpaction says hi!

2018, we are coming with an opportunity
The famous physicist Dorian S. Nakamoto introduced the concept of blockchain, then he created the BitCoin based on this all-new technology, which is independent from any initial institution. The total amount of BitCoin has been limited at 21,000,000 permanently also provides it scarcity. From the very first trading of BitCoin with a price of 0.0769 cents at the year 2010 to the highest price of 20,000 dollar at December the 17th 2017, the increasing in 7 years reached 26,000,000 times.
At November 2011, Charlie Lee initiated the project LTC. Its online trading price at January 2013 was 0.075 dollars, and it reached its highest price so far 330 dollars at December 2017, there was 4400 times rise in 5 years;
At July 2014, Vitalik Buterin initiated project ETH. Its online trading price at August 2015 was 2.5 dollars, and it breakthrough the price 900 dollars at December 2017, there was 350 times rise in 3 years.
At August 2016, the object NEO from Da Hongfei started the second stage of Crowd-funding with the price 0.15 dollars. It got online to trade at September 2016, and it reached 150 dollars at the end of 2017, there was 1000 times rise in one and a half years.
At August 2017, Sun Yucheng, AKA “disciple of Jack Ma”, initiated project TRON. Its increasing reached 33 times after got online to trade in only one month.
As it can be seen the blockchain technology has been widely used, its relevant projects founded at every corner in the world. At present time the blockchain is considered as the revolutionary core technology and trend of next generation after steamer,electric power and internet.
If says steamer has released the productive force of the society, electric power has solved the basic demands of the society, internet has changed the methods for information exchanges of the society, then as the machine to create the credence, the blockchain might change the methods for value exchange of the society entirely.
Due to the massive increasing of the blockchain digital currency market, a considerably group of people get rich overnight, and it still attract more and more investments into this field.
Although the blockchain technology accepted extensively as it develops, the barbarous growth of the exchange, lack of regulatory system, trade platform without long-term plan and the uneven standards of technological capacity, still make the trade experiences not so satisfactory. The digital asset trade is a 24-hour trade and these is no price limiting mechanism(PLM) like the stock trade. It might happen that you would suffer a great losses when you enjoy the vacation with your family while the significant changes were happening in this volatility market. Such complains were normally to be noticed at many relevant cyber communities.
Bitpaction is coming for this purpose, commit ourselves to build the first global intelligence exchange, to create a automatic global integrated asset platform which is original, much simpler, and more intelligence. To assist the investors to choose investments options wisely are our core value.
simplify Even you are a beginner who just heard about the digital asset, probably still in the process of study, and it would not be a problem at all. We have experienced user experience master, collaborate with the most professional digital asset expert, such combination would lead the trade process to achieve a greater simplicity. You could accomplished your extraordinary investment by a gently touch on your smart phone or website, while another hand hold a cup of coffee.
original Created by us, truly service fee feedback. At anytime,the minimum price of each BPS your are holding would not go lower than 0.76 USDT. We would calculate the amount of the service fee you have spend at Bitpaction(as USTD), and meanwhile, you could use the BPS to exchange the USDT maximum 50% to your service fee amount with the current price at anytime. If the current price of BPS lower than 0.76 USTD, the BPS in your hand can still be considered with the price 0.76 USTD to complete the exchange.
Intelligence The special surplus stop-loss point function was provided. Log in Bitpaction, you could set a increasing or decreasing figure for a particular digital asset in your personal center. The selling or buying would automatically triggered when this particular digital asset reaches or exceeds the figure you have set. This function could protect your investments efficiently without your attention, whether your are in asleep, travel, or with your family.
The future A recycling system with good benefits would bring more retribution and confidence to the investors. After further success, we would plan to add the trade mode for globalization, and integration with entity resources, to become a diversified comprehensive investment trading platform. We have drawn up a series of project, and gained stage achievement already. Our destiny is not only to create a professional digital assets trade platform, with to assist every investor gaining profit, we could link the stores both online and offline, to expand the market for the BPS, to open the business close loop, finally to make people’s lives easier by use Bitpaction, is our core aim to reach.
submitted by foodbig to bitpaction [link] [comments]

the Bitpaction says hi

2018, we are coming with an opportunity
The famous physicist Dorian S. Nakamoto introduced the concept of blockchain, then he created the BitCoin based on this all-new technology, which is independent from any initial institution. The total amount of BitCoin has been limited at 21,000,000 permanently also provides it scarcity. From the very first trading of BitCoin with a price of 0.0769 cents at the year 2010 to the highest price of 20,000 dollar at December the 17th 2017, the increasing in 7 years reached 26,000,000 times.
At November 2011, Charlie Lee initiated the project LTC. Its online trading price at January 2013 was 0.075 dollars, and it reached its highest price so far 330 dollars at December 2017, there was 4400 times rise in 5 years;
At July 2014, Vitalik Buterin initiated project ETH. Its online trading price at August 2015 was 2.5 dollars, and it breakthrough the price 900 dollars at December 2017, there was 350 times rise in 3 years.
At August 2016, the object NEO from Da Hongfei started the second stage of Crowd-funding with the price 0.15 dollars. It got online to trade at September 2016, and it reached 150 dollars at the end of 2017, there was 1000 times rise in one and a half years.
At August 2017, Sun Yucheng, AKA “disciple of Jack Ma”, initiated project TRON. Its increasing reached 33 times after got online to trade in only one month.
As it can be seen the blockchain technology has been widely used, its relevant projects founded at every corner in the world. At present time the blockchain is considered as the revolutionary core technology and trend of next generation after steamer,electric power and internet.
If says steamer has released the productive force of the society, electric power has solved the basic demands of the society, internet has changed the methods for information exchanges of the society, then as the machine to create the credence, the blockchain might change the methods for value exchange of the society entirely.
Due to the massive increasing of the blockchain digital currency market, a considerably group of people get rich overnight, and it still attract more and more investments into this field. Although the blockchain technology accepted extensively as it develops, the barbarous growth of the exchange, lack of regulatory system, trade platform without long-term plan and the uneven standards of technological capacity, still make the trade experiences not so satisfactory. The digital asset trade is a 24-hour trade and these is no price limiting mechanism(PLM) like the stock trade. It might happen that you would suffer a great losses when you enjoy the vacation with your family while the significant changes were happening in this volatility market. Such complains were normally to be noticed at many relevant cyber communities.
Bitpaction is coming for this purpose, commit ourselves to build the first global intelligence exchange, to create a automatic global integrated asset platform which is original, much simpler, and more intelligence. To assist the investors to choose investments options wisely are our core value.
simplify Even you are a beginner who just heard about the digital asset, probably still in the process of study, and it would not be a problem at all. We have experienced user experience master, collaborate with the most professional digital asset expert, such combination would lead the trade process to achieve a greater simplicity. You could accomplished your extraordinary investment by a gently touch on your smart phone or website, while another hand hold a cup of coffee. original Created by us, truly service fee feedback. At anytime,the minimum price of each BPS your are holding would not go lower than 0.76 USDT. We would calculate the amount of the service fee you have spend at Bitpaction(as USTD), and meanwhile, you could use the BPS to exchange the USDT maximum 50% to your service fee amount with the current price at anytime. If the current price of BPS lower than 0.76 USTD, the BPS in your hand can still be considered with the price 0.76 USTD to complete the exchange.
Intelligence The special surplus stop-loss point function was provided. Log in Bitpaction, you could set a increasing or decreasing figure for a particular digital asset in your personal center. The selling or buying would automatically triggered when this particular digital asset reaches or exceeds the figure you have set. This function could protect your investments efficiently without your attention, whether your are in asleep, travel, or with your family.
The future A recycling system with good benefits would bring more retribution and confidence to the investors. After further success, we would plan to add the trade mode for globalization, and integration with entity resources, to become a diversified comprehensive investment trading platform. We have drawn up a series of project, and gained stage achievement already. Our destiny is not only to create a professional digital assets trade platform, with to assist every investor gaining profit, we could link the stores both online and offline, to expand the market for the BPS, to open the business close loop, finally to make people’s lives easier by use Bitpaction, is our core aim to reach.
submitted by foodbig to u/foodbig [link] [comments]

[uncensored-r/BitcoinMarkets] Your Daily Moon Math - 2017-12-15

The following post by jarederaj is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ BitcoinMarkets/comments/7k1bo7
The original post's content was as follows:
There's a new 7-day performance column today. That's going to fluctuate wildly. The results of that column are being included in the nannal calculations. The new column should make higher nannal percentages even harder to achieve. Today vs yesterday is a good example of that.
Yesterday the rates of the 7-day performance column were basically identical to the results of the 30-day column. Today, it's showing basically sideways movement. Why is that? The closing prices we're using today came in before the price action we're seeing, and we went sideways for a week.
This week seems to be behaving surprisingly like last week; as if last week was a test run for what we expect to see this week. I'm not sure how much stock I put in repeating weekly fractal patterns, but it has become self-evident that ilovebeans23 fucks:
https://www.reddit.com/BitcoinMarkets/comments/7jgnty/daily_discussion_wednesday_december_13_2017/dr7dcuq
I'm adding a regular blurb to the bottom of the moon math table because a number of people keep asking if they should buy bitcoin based on the Moon Math table or Azop's charts. The answer is no, you should not. You should learn to hunt. Then you should learn to avoid being hunted.
Good hunting.

Azop's Rainbow Charts

Moon Math Table

  • Closing Price: 16,678.89 USD
Label 7-day Performance 30-day Performance 60-day Performance 90-day Performance 2017 - Present Performance 2016 - Present Performance 2015 - Present Performance 2014 - Present Performance 2013 - Present Performance 2012 - Present Performance 2011 - Present Performance July 2010 - Present Performance
From Date 2017-12-07 2017-11-14 2017-10-15 2017-09-15 2017-01-01 2016-01-01 2015-01-01 2014-01-01 2013-01-01 2012-01-01 2011-01-01 2010-07-18
Starting Price USD $16,501.97 $6,635.41 $5,647.31 $3,774.27 $997.73 $432.00 $312.00 $804.00 $12.50 $5.27 $0.30 $0.09
% Change 1.07% 151.36% 195.34% 341.91% 1571.68% 3760.85% 5245.80% 1974.49% 133331.14% 316387.51% 5559530.67% 18532002.22%
Doubling in months 15.0 0.7 1.3 1.4 2.8 4.4 6.2 10.8 5.7 6.1 5.3 5.1
Doubling Period in Days 455 23 38 42 85 135 188 330 174 187 161 155
Days in period 7 30 60 90 347 713 1078 1443 1808 2175 2540 2707
Compounding Daily Periodic Rate 0.1525% 3.12010% 1.82% 1.66% 0.8150% 0.45% 0.37% 0.21% 0.40% 0.37126% 0.43% 0.45%
Daily Periodic Rate 0.1532% 5.05% 3.26% 3.80% 4.53% 5.27% 4.87% 1.37% 73.75% 145.47% 2188.79% 6845.96%
Annual Rate of Investment 56% 1842% 1188% 1387% 1653% 1925% 1776% 499% 26917% 53095% 798909% 2498774%
Over $20,000.00 on 2018-04-12 2017-12-19 2017-12-23 2017-12-24 2018-01-03 2018-05-02 2018-01-30 2018-03-08 2018-01-24 2018-01-28 2018-01-20 2018-01-24
Over $25,190.00 on 2018-09-10 2017-12-26 2018-01-05 2018-01-07 2018-02-01 2018-06-22 2018-04-02 2018-06-26 2018-03-23 2018-04-01 2018-03-15 2018-03-17
Over $31,620.00 on 2019-02-06 2018-01-03 2018-01-17 2018-01-20 2018-03-01 2018-08-12 2018-06-02 2018-10-12 2018-05-19 2018-06-01 2018-05-06 2018-05-06
Over $56,230.00 on 2020-02-19 2018-01-21 2018-02-18 2018-02-24 2018-05-10 2018-12-17 2018-11-05 2019-07-13 2018-10-11 2018-11-03 2018-09-17 2018-09-12
Over $79,430.00 on 2020-10-02 2018-02-01 2018-03-09 2018-03-17 2018-06-22 2019-03-04 2019-02-07 2019-12-24 2019-01-05 2019-02-04 2018-12-06 2018-11-28
Over $100,000.00 on 2021-03-02 2018-02-08 2018-03-21 2018-03-30 2018-07-20 2019-04-24 2019-04-10 2020-04-11 2019-03-04 2019-04-07 2019-01-29 2019-01-18
Over $1,000,000.00 on 2025-04-21 2018-04-23 2018-07-26 2018-08-16 2019-04-28 2020-09-17 2020-12-23 2023-04-11 2020-10-01 2020-12-17 2020-07-16 2020-06-15
nannal 's A+ on NEVER!!!! 2018-02-17 2018-04-05 2018-04-15 2018-09-01 2019-05-23 2019-11-08 NEVER!!!! 2019-11-08 NEVER!!!! 2019-06-23 2019-05-25
The Nannaling 75.0% What the shit is this?
nannal 2020 83.3% Read about it
WARNING: Using Moon Math as a forecasting method is VERY dangerous and VERY tempting. I see no reason why we should expect to see past performance continue indefinitely. Don't make conclusion based entirely on what you see on some random post on reddit. It doesn’t matter how compelling you might find this, it's one lens among many. If this isn't already obvious to you, for the love of GOD, start learning what critical thinking is.
Also, yes, a website is coming someday.
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

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