Why are the world’s billionaires buying bitcoin now?

10th April 2018 Harry Hamburg

Crypto prices at the moment are like a lifeboat with a hole in it.

Every few days there is a valiant effort to bail out the water and prices buoy. But then over the next few days, that hole does its work and the boat continues to sink.

To the outside observer just looking at that doomed lifeboat bobbing up and down, it must appear like cryptos are destined to drown.

But if you look out over to the horizon, you’ll see there is a lot more going on. For now is the time the billionaires have come to join the fray.

George Soros set to trade cryptos

If you’re invested in cryptos, you’re now in good company. George Soros, the man who “broke the pound” in 1992 by making “the trade of the century”, has announced he is planning to trade cryptos.

If you’re not familiar with why Soros is so famous in investment circles, this article about the day he broke the Bank of England is definitely worth a read.

As Bloomberg reports:

George Soros called cryptocurrencies a bubble in January. Now his $26 billion family office is planning to trade digital assets.

Adam Fisher, who oversees macro investing at New York-based Soros Fund Management, got internal approval to trade virtual coins in the last few months, though he has yet to make a wager, according to people familiar with the matter.

But he isn’t the only billionaire to take an interest of late.

Rockefeller family buys into crypto

Last week news surfaced that the Rockefeller family has started investing in crypto, too.

As Finance Magnates reports:

The Rockefeller family – another giant of the American financial establishment – is joining the party.

Specifically, the venture capital arm of the Rockefeller Foundation, Venrock, has signed a partnership with Coinfund, a Brooklyn-based cryptocurrency investment fund.

Rockefeller Brothers Inc. was formed in 1946 by Laurance S. Rockefeller, one of Rockefeller senior’s children, to invest in promising businesses. It was renamed to Venrock (venture+Rockefeller) in 1969. It has invested in startups such as Intel and Apple, which are computer companies that some of you may be familiar with.

David Pakman, partner at Venrock, told Fortune: “We wanted to partner with this team that has been making investments and actually helping to architect a number of different crypto economies and crypto token-based projects.”

And one of the other more famous financial families, the Rothschilds, has been quietly buying crypto since last summer.

Rothschilds have owned crypto since last summer

As EconoTimes reported last July:

Rothschild Investment Corporation, one of Chicago’s oldest employee owned investment manager, has invested in digital currency bitcoin via Bitcoin Investment Trust (GBTC), according to the documents sent to the Securities and Exchange Commission (SEC).

According to the details provided, Rothschild Investment Corporation has acquired shares of Bitcoin Investment Trust (GBTC) for $210,000.

Sponsored by Grayscale Investments, the Bitcoin Investment Trust is an open-ended grantor trust based in the U.S. Its shares are publicly quoted securities solely invested in and deriving value from the price of bitcoin. The publicly traded shares officially started trading under the ticker GBTC in 2015.

I suppose the most interesting thing about these stories is, why now?

People with this much power, money and influence (or are the three one and the same?) don’t let the public know they’re doing something unless it’s in their own interest.

So, the question is, why have both the Rockefellers and Soros let on they are buying into crypto within the space of seven days?

Is it all to do with bitcoin’s Lightning Network?

Something big is on the horizon. But what it is, it’s hard to say. Perhaps it has something to do with the progress of bitcoin’s Lightning Network.

As Coindesk reported last month:

A version of bitcoin’s much-anticipated Lightning Network is finally ready for real users.

Announced today, California startup Lightning Labs has officially launched a beta version of its software (LND), making available what investors and project leads say is the first thoroughly tested version of the tech to date. This means that users can now leverage LND to send bitcoin and litecoin to other users, all without settling those transactions on the blockchain.

While this software is one of several seeking to form a combined network that aims to make cryptocurrency transactions faster and cheaper, today’s development effectively takes bitcoin a step closer to new kinds of applications, such as Internet of Things payments and recurring billing.

Lightning Labs hit the headlines because it managed to raise a lot of money from some of the biggest names in tech.

It raised $2.5 million from people such as “Square and Twitter co-founder Jack Dorsey, Square exec Jacqueline Reses, serial-founder-turned investor David Sacks, Litecoin creator Charlie Lee, Eventbrite co-founder Kevin Hartz, BitGo CTO Ben Davenport and Robinhood co-founder Vlad Tenev, along with The Hive, Digital Currency Group and others,” according to TechCrunch.

Well, this progress on bitcoin’s Lightning Network is one possible explanation, but it’s always hard to know with crypto. There is likely something bigger coming.

It’s only a matter of time until Ethereum releases Plasma, which will enable millions, or even billions, of transactions per second. This upgrade is reportedly way ahead of schedule. And when it launches, it will give a whole new world of possibilities for blockchain tech.

Increasing the “transactions per second” of a blockchain may not sound all that important. But it’s one of the main hurdles to “mainstream adoption” as people like to say.

As we repeatedly hear: Visa processes around 2,000 transactions per second on average, whereas bitcoin is stuck around 8.

Well, Lightning Network will vastly increase that. And as I said, Ethereum’s Plasma network will allow transactions per second in the millions, dwarfing Visa’s 56,000 per second max.

Whether blockchain is being used for payments, computing, shipping, supply chain, storage… anything, the ability the ability to process millions of transactions per second will be game-changing.

Both bitcoin and Ethereum are working on this transactions-per-second problem right now, and they are both very close to solving it.

Perhaps all these billionaires are just seeing the writing on the wall.

Until next time,

Merits Of Deciding On Weight Loss Hypnosis Virginia

By James Patterson

In this competitive world being overweight is considered to be threatening as it may lead to diseases in future. A lot of gyms are being opened to cater to a healthy living lifestyle. People choose to use different methods to cut on their weight but with this method, it is guaranteed to be natural as it includes exercise plans and safe eating. Underneath are merits of deciding on weight loss hypnosis Virginia.

Immunity can be difficult to have in your body if you have bad eating habits. Consumption of healthy foods helps your body resist certain sicknesses as you are strong. This form of losing mass helps you be in no doubt about your appearance and always have a positive outlook on everything. Acceptance starts from within so if you are light and healthy you end up feeling better about yourself.

This method is the mind body and soul. Being in constant check-up of yourself puts you in a position to manage it. Therefore, you could easily choose what is best and what works for you perfectly. You can always be in a good supervision of yourself. If you are unable to control your healthy lifestyle then weight problems are bound to happen.

You will end up having a positive look at diets and exercises instead of seeing them as a burden. Diets have been perceived as tiresome to people who do not have a close idea of what it entails. This process will help you know what diet really involves and what is needed. Therefore, in the long run, you will end up viewing it as a relief that helps you solve a problem that you have.

Guarantees you of safety to your body. You will lot of money in future to purchase drugs and visiting hospitals for fear of diseases attacking you. Some of these diseases are brought about using artificial methods that bring about side effects that at some point can be incurable. As a result, leading to depression. But if you consider the natural way no regrets will follow later.

It can be a total healing process to various people with drug abuse. Eating healthy and meditating needs you to have clean blood. For that reason use of certain drugs like alcohol and cigarettes needs to stop for you to have better results. It may be challenging but with constant practice of following a strict plan may lead you to drop some of the drugs that you are in steady use of.

It also makes you to be in control. It helps you have a lot of options as a result of broad thoughts. You end up making a decision on what is wrong and right making you settle for the best answer you arrive on. By this, your exercises and meal plans come first at it has become a habit and among the likes.

Lastly, some of the beliefs like you cannot lose mass makes one have a mentality of always losing opportunities. This process works in a way that enables you to have that positive mind towards achieving. That is the ultimate method as it is natural and you are guaranteed no side effects in the future. It will bring out that healthier side of you and ensure that you are always in your right moods all the time.

About the Author:

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Advantages Of Getting Reiki Virginia

By Karen Bell

The market is getting big every single day. More dealers are getting into the sector and thus coming up with better and efficient ways of meeting the demands of their customers all over the region. Coming up with the best Reiki Virginia can be quite demanding and thus you need to consider a good sum of things when getting the best dealer.

The entity you will be trading with has to be branded in the right manner. Some of those people now operating in that market have created a good image. They have done so by simply offering the level of labor needed by a wide range of persons. As a client you should consider firms of that manner.

The institution has to be equipped in right manner. Some of the goods which are now being used in this market are outdated and thus do not meet the standards which are in place. When you are getting the best firm to offer you the labor you should ensure all the goods it use are modern and thus are able to offer the right standards of labor.

The institution you will be doing business with has to be staffed in the right manner. Some people who are now working in this region do not offer the level of labor being demanded by most of the dealers. Because of that most of the people who are dealing with such firms always end up losing huge sum of money.

Various clients are now willing to spend different amount of cash when getting the labor. The rates being charged at this moment tend to differ and thus you can now get the labor you need without the need of spending a lot. By so doing you will end up saving a huge amount of cash.

The market has gotten big over the years because of a wide range of reasons. By so doing it has created many jobs to young persons who were unemployed in the past years. The accessibility of jobs has reduced the number of people who are engaging in crime so as to make a living. Apart from that the region has been recording economic growth due to the high number of people who are participating in economic activities.

The growth of e commerce is now being recorded all over the planet. More people are now getting online than in the past years. Most of the people who are now seeking for the entities have been going online. This is mainly due to the fact that it is efficient and reliable. A client does not have to go through a good number of middle men when getting the best dealer.

The government is also benefiting a lot from this sector in numerous ways. It is making a good sum of cash from this market. It has been doing that by putting in place fees and taxes. This is one of the many ways in which the government is trying to regulate the market in this region. The cash being made by the body is now being used to offer various utilities and goods to citizens.

About the Author:

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Advantages Of Smoking Hypnosis Virginia

By Melissa Lee

Some people out of ignorance find it difficult to invest their effort in trying to quit. The consequences of smoking can be deadly. However, stopping the addiction is not always something that is easy. Some have tried using prescribed medication while others have opted to choose nicotine patches. However, the best remedy to stop smoking is through smoking hypnosis Virginia. This trend is becoming popular with each day for several reasons as explained.

The best reason as to why people will prefer this technique is because it handles the situation from a different approach that makes it unique. The method approaches the problem by dealing with the emotional and psychological features of the effects of such an addiction. The other methods approach the situation from a physical angle. They major their focus on the reasons as to why they started the habit in the first place.

The technique is also a drug free therapy. All other methods use medications and other devices as a form of treatment. However this is not the case with this therapy. On the contrary the method uses natural treatment thus does not require any medication. It is necessary to understand the root of the problem instead of using harsh medication through using positive suggestions, the therapist can be able to reprogram the mind and convince them to quit the habit.

This is the best solution to stop the addiction. This is because it offers permanent solutions, unlike others that offer temporary solutions. The use of pills and nicotine patches is not a guarantee that the person will overcome the addiction. Using this procedure will include a 6-week therapy after which the patient quits the habit permanently. While attending the sessions the therapist tries to fix the victim through positive thinking. They explain the effects of cigarettes.

The process also involves the pattern of a mind. Through the therapy sessions, the victim can directly effect on their habitual patterns and the subconscious mind. The victims are in an altered state of awareness making it possible to make other suggestions. Most smokers smoke out of their habit and not because it is a necessity. However undergoing the treatment offers an opportunity to change their thinking patterns.

Another advantage is that the victims are completely relieved from the tobacco cravings. Most of these discussions are always tailored depending on the person. During the consultations, the practitioner will try to identify the major reasons why they smoke and try to use positive suggestions that will help reduce the craving. The practitioner can also reveal the annoying habits of an addiction thereby discouraging the habit.

This procedure is also affordable. This is because it does not require the use of medication that needs money to purchase. They also provide immediate and permanent results. It also does not require a lot of time to acquire treatment.

The fact that the form of treatment is natural it is evident that the process does not have any side effects to the user. They do not use any form of medication that will have effects on the body of a victim.

About the Author:

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Budgeting Do's & Don'ts By Robert Jain

By Jason McDonald

Budgeting is when someone calculates how much money they spend versus what they bring in, before creating a strategy to ensure that the former doesn't exceed the latter. This is a common practice, not only among those that are careful with money but people that are considerably wealthy as well. Budgeting allows you to save money, but there are a few ways to go about it well. Here are some do's & don'ts offered by Robert Jain.

DO make use of spreadsheets. In the digital age we live in, recording your data in notebooks is a thing of the past. Instead, you should go on your computer so that you can track your expenses with spreadsheets. Not only will these keep your data organized, but you'll be able to pull them up from anywhere courtesy of the cloud. This is just one of many budgeting tips that names like Bobby Jain can offer.

DON'T immediately gravitate toward wants instead of needs. One of the biggest challenges of budgeting is deciding what's a need and what's a want. Office supplies like computers and notebook are often seen as needs. Luxuries like new cars and restaurant trips are regarded as wants. While it probably goes without saying, needs should be prioritized. By doing so, you will be able to save more money in the long term.

DO keep yourself covered for worst-case scenarios. As you budget, you should set money aside to be placed in an emergency account. This can be used for any situation that unexpectedly occurs, like a broken bone or any health complication you may think of. An emergency account can help you cover the costs without you having to pay out of pocket. You may find yourself overspending otherwise, so build your emergency account as soon as possible.

DON'T create a budget unless you plan on reviewing it. As a matter of fact, this is one of the most important aspects of budgeting, no matter how much you make. Once you've recorded your spendings for the month, go back and review them. Have you been staying within your limits? Are there areas to be improved upon? By asking yourself these questions during the review process, budgeting will become that much easier.

About the Author:

Please contact Bob Jain for further details related to what you've just read.. Check here for free reprint license: Budgeting Do's & Don'ts By Robert Jain.