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Bitcoin (USD) opens at 4am on Saturday, and is available to trade until 10pm on Friday.

(London time) (market holidays permitting).

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What! 

After getting over my initial surprise at this news it is actually quite interesting. The Big Mac and McDonalds has played a part in measuring in economic terms 'purchasing power'.

I think it was in the 80's that the Economist started using what is now till this date called the 'Big Mac Index' which is used as a way of measuring the purchasing power of international currency. I remember studying it in Economics many years ago. 

I would be surprised if it was a cryptocurrency. I will have to check my news feeds after finishing this post. I think 'tokenisation' is coming so this could be just a 'coupon' in digital coin or token form which is the future. 

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What!  yes, that was the reaction on twitter too. But it turned out to be just a promotion for 50 years of the big mac. It was in the 80's that the Economist started the big mac index, be interesting to review the first one and check which countries weren't on it compared to today.

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@Caseynotes, yes indeed.

I am out of the country for a month now on both holiday and business so my posts will be scarce or virtually non existent over the next four weeks. I am leaving for the airport in the next half hour. Will catch up on my return.

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I may have to change my thoughts on crypto, If Paul Krugman thinks they're a terrible idea then perhaps I should be loading up on them after all. The problem remains which one, I still think that there will be one eventual winner and that 'the one' may not even be here yet.

https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-analysis-eth-usd-eys-critical-440-as-paul-krugman-lambasts-crypto-201808010525?utm_source=twitter&utm_medium=post&utm_campaign=socialmedia&utm_content=generic-news

 

cry1.PNG

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 3 minute segment of an interview with Derek Urben CFO of Coinigy with an explanation of the problem with bitcoin and what to look for to signal a future move.  

 

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interesting @Caseynotes. I actually wrote something similar to this which was posted on IG.com regarding ether and the network effect of metcalfe's  law. That looks at the network effect rather than the actual transactional network effect, but the principles are the same. 

Are these the new EPS / EBITDA's of the crypto world? 

https://www.ig.com/uk/forex-news/using-metcalfe_s-law-to-value-cryptocurrencies-180410 

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Why can't i get a simple answer to what a Bitcoin is?   It's so frustrating - all I seem to get is a history on who invnted it, blockchain, wallets and the like - what IS a bitcoin??

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@Bluepowder,

I will try and explain in a simple manner using plain and clear English. 

Bitcoin is what is called a 'Cryptocurrency'. You cannot hold it or feel it. It does not have a physical sense. It is 'digital' and a form of what you could describe as electronic currency. The technology behind it is called 'Blockchain'. If you want to know more about 'Blockchain' then I recommend you read some of my previous posts on this subject area. You may find them useful. It is a 'decentralised digital currency' which basically means that it does not rely on a central bank and can be sent from each user (peer to peer) using Bitcoin's network without the need of any intermediaries. 

On a fundamental level Bitcoin could be described as a token with verification based on Cryptography. What a lot of people forget is that Cryptography has been around for many years. No single institutions like a central bank controls Bitcoin hence it is 'decentralised'. It solves the 'double spending' problem, has limited supply, transactions cannot be reversed and has clear divisibility. 

I will leave it at that. If you search for @TrendFollower and some of my previous posts on Bitcoin and Blockchain that I have posted on the IG Community over the past year or so then it will provide you with more specifics and detail. 

Hope my explanation was easy to understand and helpful. 

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