Bitcoin and Alt Coins Soaring (Again)

Bringing Billions to Blockchain via Quantum Poodles™The World’s First Risk-On Safe-Haven AssetPeter Schiff, the vocal anti-bitcoiner, was recently quoted as stating, “The recent rise of Bitcoin relative to gold in no way proves that bitcoin is a superior store of value. Exuberant investors are flocking to risk assets and shunning safe-havens world-wide. As the riskiest asset of them all, bitcoin is being bought as part of the risk on-trade.”In reality, bitcoin is the world’s first risk-on safe-haven asset. It goes up during traditional boom cycles (due to its S-curve) but it also goes up when investors flock to safe-havens (due to its underlying mathematics). That’s not to say it won’t have its share of bull market corrections where it typically loses around one-third of its value if prior history is any guide. While this sounds sharp, a log plot shows such corrections are small when compared to bitcoin’s overall uptrend during bull markets.For those who may wish to own bitcoin outright instead of through the Grayscale ETNs GBTC and ETHE since they trade at varying premiums, you can now buy bitcoin and other coins with Paypal where they are safely held on Paypal. The counterparty risk is that PayPal goes bankrupt, but these are diminishingly small odds. It’s far more likely that your bitcoin is lost to a centralized crypto exchange getting hacked or the exchange being compromised from a government freeze due to regulatory issues as has happened recently to centralized exchanges Bitmex, Huobi, and OKex. For those who wish to store their bitcoin in an online or cold storage wallet, you have to make sure you don’t get fooled by the many clever phishing scams that can compromise both. You also have to keep track of your wallet’s key phrase which some have been known to misplace. So…