3 AUDIOBOOK COLLECTIONS

6 BOOK COLLECTIONS
Bitcoin is a revolutionary new concept—a
digital currency of thenew era, not relying
on any bank or government, which started
few years ago as an open source project
on www.bitcoin.org. It was considered by
many as just another creation of Internet
geeks before it took the financial world by
storm this year and was suddenly raised to
the ranks of major world currencies.
And if you jump in fast, you can be one
of those who‟ll reap all the benefits.

Remember, the early

bird catches the worm!

Embrace the new e-currency, free of

any government and bank limitations.

Bitcoin is an absolutely new revolutionary concept: digital

currency of a new era, product of an open source project
created by Japanese geek Satoshi Nakamoto, called
“Bitcoin: A Peer-to-Peer Electronic Cash System”.

A purely peer-to-peer version of electronic cash allows online payments to

be sent directly from one party to another without going through financial
institutions like banks and government control.

Bitcoin puts an end to Banking system parasites: Forget the ridiculous

bank wire fees and commissions.
 Bitcoin is taking over the world!

It was created in 2009 as an online currency that

isn‟t controlled by the U.S. Federal Reserve or any
other central authority and just in August of last
year, the exchange rate for
one Bitcoin was $10. This may seem high
untilyou realize that today,
one Bitcoin is worth roughly $250 !

While you may think Bitcoin

is solely a digital currency,it
is already taking over the world
with thousands offline ATM
machines that let you exchange
Bitcoin for traditional cash!
 Since Bitcoin is a currency, you can use it in exactly the same way
you use any other electronic money: you open a digital wallet that can
be installed on your computer or on your mobile phone and you use
this wallet to pay or receive money. This is as safe (or maybe even
safer) than any other digital wallet, it uses cryptography with public and
private keys and all the yada-yada that guarantees security of all your
electronic transactions; for example, for credit card payment or home
banking.
If you are a safety geek, I can assure you, I have not ever heard about
any fraud that resulted from interception and cracking a transaction
secured in this way. Most of the computer crimes are related to breaching
credit card storage systems (which simply does not exist in this case) or
simply intercepting a user typing or other manipulations on the user‟s
own computer via various malware
(this type of interception can only be excluded on the user level by
properly securing one‟s computer).

The advantages of Bitcoin stem from the fact that your transactions do
not pass through any central office, bank, etc. The transactions take
place between two persons and involve the entire network to approve its
validity. No banks mean that the cost of transaction is kept very low. On
top of that, your account cannot be frozen, it will not depend on failing
banks, bad credit history etc. Opening an account does not require any
prerequisites. Just your email address is enough.

Nowadays, you can use Bitcoin for almost everything:

purchase music, software, hosting, video games,
betting, auctions like eBay... You can even rent
apartments and buy houses using Bitcoin!

Nobody expected Bitcoin to gain

this much traction, but it is taking
over the world faster than you
might think.
Sounds too good to be true? It is true!
That is why more and more retailers worldwide already sell Bitcoin.
Nowadays, you canspend your bitcoinson everythingfrom Amazon
vouchers and T-shirts to apartment rentals in Berlin. If you have your
own internet business, you can accept Bitcoin too. That is easy.
Moreover, you can trade your bitcoins exactly the same way you can
trade euros or dollars and gain money on its rate fluctuations. Just
recently, a worldwide electronic money and online payment system
WebMoney, which has more than 11 million users, started processing
bitcoins. Besides purses nominated in US dollars,
Euros or Russian roubles, you can also open a WMX-purse nominated in
bitcoins and use it to exchange bitcoins against other currencies or to
buy goods or services.

What is Bitcoin? How does it work? How to make money with it?

This is what this book is about.

Spoiler:

By the end of our ebook, you will learn how you can profit
with Bitcoin on Autopilot!
Introduction
Almost a year ago, January 2014, the price of one bitcoin stood at $913,
down slightly after reaching an all-time high of over $1,200 earlier in
December. The new cryptocurrency came a long way from trading
below $4 just two years ago. Major online and offline retailers are
starting to add the new currency as a payment method. But what
exactly is bitcoin?

According to a recent Bloomberg poll, only 42 percent of Americans

correctly identified bitcoin as a virtual currency. Six percent thought it
was an iPhone app.

Bitcoin is a peer-to-peer digital currency launched in 2009 by „‟Satoshi

Nakamoto‟‟. Satoshi worked on the project alone for 2 years before
releasing the code to the public. He disappeared shortly after creating
the cryptocurrency, but before leaving he posted the now infamous
quote:

‘’It might make sense just to get some in case it catches on’’

Satoshi Nakamoto, January 17th, 2009.

What’s so special about Bitcoin?

Bitcoin is a cryptocurrency and a new and unique financial vehicle,

unlike anything the world has ever seen. It‟s called a cryptocurrency
because it uses cryptography to control the creation and transfer of
money. Despite the name, there is no physical coin to speak of, Bitcoin
is a completely electronic form of money.

Bitcoin solves the so called „‟double spending problem‟‟ present with

digital goods. For example, if I have an mp3 file or an ebook on my
computer, I can freely copy that file a thousand times and send it to a
thousand different people. For a digital currency, the possibility for
unlimited copying would mean a quick hyperinflationary death. Bitcoin
solves this by maintaining a peer to peer network and recording each
transaction in a public ledger called the block chain. Say I send 1 bitcoin
from my bitcoin address to my friend John. The bitcoin network records
that transaction in the block chain and I no longer have possession of
that bitcoin. The coin „‟moved‟‟ from my bitcoin wallet to John‟s wallet.

What‟s so special about Bitcoin? There are many arguments on

whether the new virtual currency will succeed or fail. We will not get into
this nor discuss the politics behind the project. Our concern is strictly
with the profit opportunities provided by this new payment phenomenon.
In the next few pages on the new digital currency we will outline our
thoughts from the perspective of a trader and a potential investor in this
upcoming market.

Bitcoin Basics

Bitcoin is a peer-to-peer virtual currency. This means that in order for a

transaction to occur, no middle men or central authority is needed. You
can send any amount of bitcoins to anyone living anywhere in the world,
completely eliminating the need for traditional third parties like banks or
money transmitters. The cryptocurrency also allows the bypassing of
capital and AML restrictions.

In order to send or receive bitcoins, all you need to have is a bitcoin

address and internet access. You only need to be online long enough
for the transaction to process. Similarly to traditional bank accounts, you
can receive bitcoins to your bitcoin address even if you‟re offline. When
you want to „‟collect‟‟ your coins however, you‟ll have to find an internet
connection.

How to get a bitcoin address

Like we mentioned previously, in order to send or receive bitcoins you

will need to have a bitcoin address. You can get a bitcoin address either
by downloading the bitcoin client or by getting an online wallet. The two
most popular btc clients are Bitcoin-qt and Multibit. The main difference
between these two clients is in the size of the block chain that needs to
be downloaded. If you decide to go with Bitcoin-qt, have at least 10
Gigabytes free space on your hard drive for the block chain. As Bitcoin-
qt is the „‟official‟‟ bitcoin client, if you can spare 10 GB, go for this
option. Here‟s a page that has step by step instructions on installing
Bitcoin-qt.

Multibit is a lightweight version of the bitcoin client. You can read more
about it here.

Where are my bitcoins stored?

But where are the bitcoins actually stored? After you install one of the
two clients above, you can find your bitcoins in a file called wallet.dat. If
you use windows this file will be located in the application data section.
If your computer gets stolen or lost and you haven‟t made a copy of the
wallet.dat file you will lose your bitcoins. It is always recommend to
backup this file.
The bitcoins can also be stored in online wallets. There are specialized
websites that offer bitcoin wallet services. However due to these sites
being a frequent target for hackers, keeping bitcoins in online wallets is
not recommended when you can easily store them offline on your
computer. Wallets can be useful for storing small sums of bitcoins so
that you can make quick online purchases. Some of the more popular
wallet services are Blockchain and CoinKite.

Btc exchanges are a somewhat safer place for your bitcoins compared
to online wallets because they keep most coins in what is known as
”cold storage”. Usually over 90% of the bitcoins deposited on an
exchange are kept offline. A small 5 to 10% reserve is kept onsite for
immediate redemption purposes. There are plenty of guides online on
how to store/secure bitcoins, go over them. It‟s always safer to take
care of this process yourself then to trust a third party with a substantial
amount of bitcoins.

Bitcoin Advantages

Bitcoin has several advantages compared to traditional money

transmitting services. We already mentioned two of these above, the
elimination of the need for third parties and the bypassing of restrictions.

Another major plus of the new cryptocurrency is the very low cost for
sending and receiving bitcoins. While it is possible to send transactions
completely free of charge, it is recommended to pay the small fee in
order to speed up the sending process.

The fee amount depends on the data size of the transaction. A typical
transaction is 500 bytes and carries a fee of 0.0001 BTC. At current
prices of $250 per bitcoin, this amounts to a charge of 2.50 cents.

Because the fee is completely dependent on a transaction‟s data size

and not on the number of bitcoins being sent, a $10 transfer will carry
the same fee as a $10 Million transfer. The fee will take a 0.25% piece
of a $10 transfer but that same fee will only take 0.00000025% of a 10
Million transfer.

Bitcoin offers benefits to merchants as well, as transactions that involve

the digital currency are secure and irreversible. Without the risk of fraud
or fraudulent chargebacks, merchants can offer their products at a
discount thereby generating more sales or pocket the difference
themselves. In addition, with card processors out of the picture,
merchants can save on the percentage cut taken by Visa / MasterCard.
Bitcoin and transparency

The picture above shows some of the recent large transactions

recorded in the block chain. The first transaction is for 205 BTC, the
equivalent of $51,250 at today‟s prices. The long lines of letters and
numbers you see in the pic are bitcoin addresses. A bitcoin address
consists of 27-34 alphanumeric characters, beginning with the number 1
or 3. You can have as many addresses as you want, they‟re free and
easy to generate.

Notice that there is no name that goes along with the bitcoin address.
This is what outside observers mean when they say „‟ Bitcoin is
anonymous‟‟. Bitcoin is in fact „‟pseudo anonymous‟‟. While all bitcoin
addresses and transactions are public, the holders of those addresses
remain hidden.

The only thing that can be discerned by looking at the block chain is that
address 1XXxxxXXXxxxxxxXX sent 100 Bitcoins to address
3XXxxxXXXxxXXxxXX at a certain time. Who sent the coins, the reason
for sending, and the users location is not revealed.

However, keep in mind that as soon as you connect your bitcoin

address to your real identity (for example, by purchasing bitcoins online
or in a face to face meeting), the pseudo anonymity provided by bitcoin
is lost. There are ways to regain the lost anonymity but that is beyond
the scope of this introductory article.
Buying Your First Bitcoin

But how can you actually get a hold of a bitcoin? The easiest way to
acquire bitcoins is to buy them at an online exchange. There are three
major bitcoin exchanges, each of them with their own unique properties
and a different fee structure.

Bitstamp.net

If you‟re European, Bitstamp is your best bet to get some bitcoins at a

low cost. The company is based in Slovenia, part of the EU. Deposits by
SEPA are free, withdrawals are charged a fixed 0.90€ fee once the
funds are converted to Euros. Because Bitstamp only offers trading in
BTC/USD (Bitcoin versus the US Dollar) all Euro transfers are
immediately converted to Dollars. If you want to withdraw by SEPA, you
have to convert your funds back to Euros.

The fee structure favours big traders and market makers. The basic fee
for new accounts starts at 0.5% and goes all the way down to 0.2% if
you trade over $150,000 in one month.
Yes forex traders, you heard that right, the LOWEST fee structure is 0.2
percent. The 0.2% charge is per side, so you will get hit with this fee
whenever you buy or sell bitcoins.

Luckily, the spread between the bid and the ask price is very low, most
of the time ranging between 1 and 2 dollars. At a current bitcoin rate of
$250, this amounts to an added cost of 0.1 to 0.25%. You only pay the
spread if you want to enter a trade right away with a market order. If you
placed a limit order to buy and you‟re willing to wait until someone
wants to sell, you can purchase your bitcoins at a small discount at the
bid and later sell them at the ask, pocketing the spread in the process.

Bitstamp has largely avoided the deposit and withdrawal problems that
plague many bitcoin exchanges. With a lack of regulation on the
upcoming virtual currency and its checkered past, many financial
institutions remain reluctant to get involved with processing bitcoin
related transactions. You can deposit funds in USD, EUR, GBP and
CHF. US clients are accepted.
Coinbase.com

Coinbase is probably the easiest and safest way to purchase bitcoins in

the U.S. Unlike BitStamp, Coinbase is not an exchange. They act as a
counter-party to all customer trades, you buy or sell your bitcoins
directly to Coinbase. The buy/sell fee is 1% on top of the buy/sell
spread. The bid/ask is usually close to BitStamp where the firm gets its
liquidity from. For example, the current bid is at $244.48 and the current
ask is $247.07. In addition to this, the firm has daily limits on the amount
of bitcoins bought/sold. These limits are not applied on the individual
level. Basically Coinbase has a set amount of bitcoins that it is willing to
buy or sell every day. During times or high volatility, users may not be
able to buy/sell bitcoins until Coinbase decides to „‟refill‟‟ their stock.
Here‟s a good explanation on this issue from their Customer Support:

‘’The limit you’re seeing is Coinbase’s daily limit being reached, not your
personal limit. Sometimes the Coinbase site itself will run into a daily
rolling limit on purchases or sales if there is an exceptional amount of
activity in the bitcoin markets. We put up this temporary pause to make
sure that we have enough funds to accommodate the transfer orders
being created. This should be a rare exception rather than the general
rule however. There is no specific time of the day where this limit starts
– it’s on a 24 hour rolling basis. It might be best to check in at 6am or
7am Eastern Standard Time tomorrow. Sorry for any inconvenience this
has caused you – we know this can be frustrating. This is something
we’re working on as we speak.’’
Coinbase claims that over 97% of all customer funds are stored offline
in bank vaults to prevent theft or loss. If you live in the States, you can
easily link your bank account to Coinbase to facilitate quick and easy
bank transfers.

BTC-E.com

If you‟re a forex trader, BTC-E is probably the easiest exchange to get

into. The company offers its own MetaTrader platform. The instrument
comes with a leverage of 3 to 1 and the ability to short bitcoin. Shorting
is not an option at Bitstamp. You can still sell any bitcoins you already
own at these exchanges but you won‟t be able to short bitcoin outright.

The fees on MetaTrader are slightly higher, 0.3% per side compared to
0.2% if you used btc-e‟s web interface. If you‟re a forex trader btc-e
might strike you as the best option of the three. But alas, nothing is as
straightforward in bitcoin world.

No one knows who the real owners behind btc-e are. Apparently the
headquarters of the company are in Bulgaria and the support staff is
more familiar with Russian then with English, but the rest is a mystery.
The company operates a complicated deposit and withdrawal process
that relays the money through several banks and payment processors
before depositing them to your account. If you plan to deposit on BTC-
E, make sure to follow their deposit instructions to the letter. Because
the deposits go through a web of banks, tracking down a lost deposit is
near to impossible.

On the plus side, the company does offer deposit and withdrawal by
several popular e-wallets like Webmoney, PerfectMoney, Ukash and
Paypal (withdrawal only $500 minimum). According to user reviews,
deposits and withdrawal by these methods are a lot faster and smoother
compared to bank wires.

BTC-E does accept US clients. However, starting from the middle of

December 2013, the company stopped processing US dollar wires or
any wires connected to a US bank. Here is an email reply to a
customer‟s question on this: „‟We don‟t accept international wire
transfers from US Citizens or from US Banks. All transfers from US
Citizens or US Bank will be refused by bank.‟‟

Other ways to purchase bitcoins

Aside from the exchanges, you can also buy bitcoins on ebay and
similar auction sites. Keep in mind that due to the possibility for
chargebacks and fraud, bitcoin and other cryptocurrencies trade at a
premium on ebay. Face to face meetups are another option to acquire
bitcoins. Checklocalbitcoins.com for bitcoin sellers and buyers near your
area. Always exercise caution when doing an offline exchange. Meet
during the daytime and in places with a lot of people around. If possible,
bring a friend.

We‟ll leave the choice of where to buy your first bitcoin up to you, we
hope that our presentation relayed enough information to help you
make an informed decision. It all depends on your needs and
requirements. Some exchanges are better for trading, others have
superior banking relations with bankwire deposit and withdrawal
options.

Leveraged Bitcoin Trading

In this section we‟ll go over several options for trading bitcoin on margin.
We‟ll also outline the options to short the virtual currency. Before we go
any further, a caution is in order. Bitcoin prices are highly volatile. Prices
rose from a low of 195.50 on November 1st to a high of 1,090 by
November 30th 2013. From here, the btc price crashed to a low of 420
on December 18th, only to go back up and retest the 1,000 level in
January of last year. One bitcoin is currently worth 247.88 on btc-e. The
chart below demonstrates this volatility.
Unlike major forex currency pairs which barely move 1 percent per day,
bitcoin prices can rise or fall over 30 percent in a single day. If you know
how to trade, you don‟t really need any leverage to make money with
bitcoin. With that caution out of the way, let‟s get down to business and
go over some of the options for leveraged btc trading.

We already wrote about one of the more competitive options for

shorting bitcoin and leveraged trading, BTC-E. The Bulgarian exchange
offers the popular MetaTrader platform with 3 to 1 leverage, shorting
capability and a low fee of 0.3 percent per side.

AVA Trade

AVA Trade is a forex broker that offers bitcoin trading through a CFD.
Two bitcoin CFDs are available, Bitcoin Mini and Bitcoin Weekly. The
Bitcoin Weekly CFD has a 20 to 1 leverage and expires every Friday at
21:00 GMT. The Bitcoin Mini only has a 2 to 1 leverage but doesn‟t
expire. Both contracts are using data from BTC-E and AVA Trade adds
around 10$ premium on top of the exchange spread.
Here‟s a snapshot of AvaTrade‟s MT4.

A major flaw of both contracts is the inability to trade them during the
weekend. Bitcoin trading is completely decentralized and doesn‟t rely on
a network of banks for executing trades thus there is no set open and
closing time. Unlike forex which trades 24/5, bitcoin trades 24/7 (except
on AvaTrade). As can be seen on the chart, large gaps are frequent on
AVA Trade‟s Bitcoin CFD due to this policy. AvaTrade does not accept
US clients at this time.

Etoro.com

Etoro.com is one of the latest forex brokers to offer bitcoin trading.

Unfortunately, the product is not very suitable for day trading as you can
only enter and exit the market four times per day. It uses the BitStamp‟s
data feed as a price reference. You can read more about Etoro‟s bitcoin
offer here. Here‟s a snapshot of their bitcoin CFD in action:
Unfortunately despite having a dedicated US part of the site (link
to http://www.etoro.com/usa) , eToro doesn‟t seem to accept US clients
at this time. Here‟s a part of the Q&A section that deals with this
question: „‟As part of our ongoing optimization process currently
underway in the US, we have temporarily suspended our service.
Therefore, at this time we will not be accepting new clients or funds
from existing US customers. While you‟re here, you are welcome to
continue experiencing eToro through our practice mode, which will stay
available and free to all.‟‟‟

Btc.sx

Btc.sx offers a 10 to 1 leveraged product based on BitStamp‟s data

feed. Similarly to Ava Trade, Btc.sx adds around 10$ to the spread at
BitStamp. You will need a deposit of at least 0.01033 of a bitcoin in
order to trade at Btc.sx. At current bitcoin prices of $250, this amounts
to around 2.5$. Btc.sx is dually incorporated in England and Singapore.
The exchange currently accepts only bitcoin deposits, no fiat currency
deposits are allowed.
The pic above shows a bitcoin long position. Btc.sx has several
restrictions that make trading with leverage problematic. The exchange
doesn‟t support moving the stoploss after entry. When contacted about
this, their support team told us that „‟this feature will be implemented in
the next few months‟‟. Our question is why isn‟t it already implemented?

As you can see on the picture, you can only set the stoploss as a
distance from the current price (in the pic this is set as 50 points). The
default is 88 points below entry. This is exactly where my stop was, 88
points below 935 at 847. There is a trailing stoploss option but despite
my best efforts, I couldn‟t make it work. So essentially, once you set
your stoploss on Btc.sx, you‟re stuck with it.

The high rollover cost also makes leveraged trading at Btc.sx

problematic. The currency rollover cost for my position was 0.0094 of a
bitcoin, that‟s 8.8 US Dollars, far too high for a 1,000 usd position in my
opinion. Because the company only allows deposits and withdrawals in
bitcoin, it has largely avoided the US Dollar deposit/withdrawal issues
encountered by other btc exchanges. Btc.sx does allow US clients.

Bitcoin Options

Besides CFDs, the new cryptocurrency has also helped spawn a new
options market. Currently several companies are in the business of
offering Bitcoin options. Anyoption.com is one of the more established
option houses that offers trading in the virtual currency. You can bet on
rising or falling bitcoin prices. Anyoption.com is not an option for US
clients, the company doesn‟t accept USA traders at the moment. Here
are some of the current btc options on offer.
Predictious

Predictious.com is a betting websites that matches buyers and sellers

and doesn‟t price the options themselves. Besides betting on bitcoin‟s
demise or rally, you can also try to predict the next winner of the Oscars
or bet on which party win control the US Senate after the 2014
elections. Currently the site takes bitcoin deposits only. Predictious
does accept US clients.
What Drives Bitcoin Prices?

Regulation

Regulation and other actions by government entities has one of the

biggest impacts on the price of bitcoin. The US and Chinese
governments are the ones to watch. Somewhat favorable comments by
US lawmakers in November and December of last year underpinned the
bitcoin rally.

At a Senate committee hearing last month a Justice Department official

said that „‟bitcoins can be a legal means of exchange‟‟. The new
cryptocurrency can be exploited by „‟malicious actors‟‟ and should be
subject to „‟rules to protect people‟‟, the agency added.

Increased bitcoin purchases from China and the adoption of the

currency by Chinese online businesses were another driver that helped
push the BTC/USD price from 195.5 at the start of November to a high
of $1090 30 days later. Baidu, the biggest Chinese search engine
started to offer payments in bitcoin. The chart below shows the
remarkable November rally.

November rally

The silence of the Chinese authorities was seen as a subtle acceptance

signal by market participants. The situation didn‟t last long however. On
December 7th, The People‟s Bank of China barred financial institutions
from buying or selling virtual currency or Bitcoin related products. The
Bank also demanded that businesses stop with the practice of pricing
their products in Bitcoins. BTC/USD opened the day at $906.50 on
BTC-E. After the news hit the wires, bitcoin prices crashed from to a low
of $551 in only 9 hours, a fall of 39%.
December 7th is marked with a yellow rectangle on the chart above.
After a small dead cat bounce to $970 in the next few days, bitcoin
prices resumed their decline. BTC/USD marked an interim low of $420
US dollars for one bitcoin on December 18th.

Increased Adoption and an Expanding Marketplace

At the start of 2012, one bitcoin was worth exactly $4.72. One year later
a piece of the new currency could buy you a book on amazon ($13.51).
On January 1st 2014, buying a single bitcoin would set you back $806.

With the 2008 financial crisis still fresh in people‟s minds, most wrote off
Bitcoin‟s rising price as just another „‟bubble‟‟. But what a lot of people
failed to grasp is why the price is going up. While speculation and
betting on higher prices certainly played their part in the process, a
major reason behind the gains is very simple, increased adoption of the
cryptocurrency.

According to BitPay, a Bitcoin Payment Service Provider, as of

November 2013 there are over 14,000 merchants currently accepting
bitcoins. Two years ago this number stood at few hundred. The number
of transactions facilitated by Bitpay increased tenfold in 2014 and
crossed the 50,000 mark in November. The payment processor said
that 6,296 bitcoin transactions occurred on Black Friday last year, up
from only 99 transactions the year prior.

Some of the notable adopters as of late include Richard Branson‟s

Virgin Galactic. You can now buy a private flight into space with your
bitcoins. Zynga, the facebook games platform, offered the bitcoin
payment option to players in “FarmVille 2”, “CastleVille” and other
games. Major adult websites are also starting to accept the new
currency as a means for payment.

All of these developments point to one thing. The Bitcoin marketplace is

expanding at an astounding rate of growth. The businesses and
individuals that embrace this new phenomenon will have a leg up over
their competition going forward.

Usage in outlawed activities

The third biggest fundamental driver of bitcoin prices is the increased
(or decreased) usage in activities outlawed by governments. Bitcoin‟s
pseudo anonymity has facilitated dealings in anything from the
purchase of contraband like illegal drugs or weapons to bypassing
capital and investment restrictions and tax avoidance. Government
crackdown on these activities tends to suppress the price of bitcoin.

A notable example of this was FBI‟s shutdown of the „‟Silk Road‟‟

marketplace. The website had over 10,000 products for sale, 70% of
which were drugs that are illegal in most countries.
Around 340 different varieties of drugs were offered on the site. The site
functioned as an „‟Ebay for drugs‟‟, connecting buyers with sellers and
not doing any dealing themselves.

The FBI shut down Silk Road on 2 October 2013. The alleged chief
operator of the site, Ross William Ulbricht (also known as Dread Pirate
Roberts) was charged with alleged murder for hire and narcotics
trafficking violation. The agency confiscated over 26,000 bitcoins from
different accounts on Silk Road, worth approximately 3.6 million US
Dollars back then. Twenty days later, the FBI reported that they had
seized 144,000 BTC thought to belong to Ulbricht.

The chart above shows the bitcoin market‟s reaction to the website‟s
shutdown and the subsequent btc confiscation. Bitcoin prices
plummeted from 123.95 to a low of 75.20 on the news. The market
didn‟t take long to recover however as most took the plunge as an
opportunity to buy some cheap bitcoins. Prices were back to 118 two
days later.

The second yellow rectangle on the charts marks the FBI‟s

announcement of the large btc confiscation. The prospect of an US law
enforcement agency holding a large chunk of bitcoins spooked markets.
The BTC/USD took a dive from 195.20 to a low of 152.49 on the news.
But as can be seen on the chart, the spike lower was again used by
investors to gabble up coins at a bargain.
It is interesting to note that a major bitcoin rally started right after the
Silk Road shutdown, somewhat dispelling critics arguments that the
virtual currency was mainly used as a tool for facilitating drug trafficking.
In the months following the site‟s closure, several major online and
offline businesses started accepting bitcoins. These include major US
retailers like Overstock.com and Tiger Direct. The CEO of
Overstock.com reported that the company logged more than 800
purchases using Bitcoin on the first day they started offering the new
payment solution, totalling $130,000. The company estimates that
Bitcoin buyers have made $500,000 in purchases in the first 14 days
since the new payment option was offered.

But what about the supply side?

Traders with experience in other commodity markets are probably

asking themselves why the supply topic is placed last in an article that
goes over the drivers of bitcoin prices. The reason is because when it
comes to bitcoin, the supply doesn‟t have much of an impact on the
price. This is because the supply is constant and known beforehand
and SHOULD therefore be already priced in. Situations like finding a
huge oil field that significantly depresses oil prices is not possible with
bitcoin. Let me explain.

The supply of bitcoins grows by the process called “mining” bitcoins.

The supply is expected to increase by 10% in 2014 after going up
11.11% last year. The rate of block creation is 6 per hour with each
block worth 25 bitcoins (around 25k USD). If more mining power goes
online and the block generation increases to 7 blocks per hour for
example, the so called “mining difficulty” will go up until the 6 blocks per
hour average is reaffirmed. On the other hand if miners generate less
coins then the difficulty will go down making it easier to generate new
coins. You can read more about the supply of bitcoins here.

Wall Street Bitcoin Forecasts

With the mark of drug trafficking of the record, the new cryptocurrency
was also starting to attract the attention of Wall Street. Wedbush
Securities, a little known analyst firm put a forecast of around $98,500
on the price of one bitcoin. The analysts expect bitcoin to rise by 10 to
100 times its current value as the new technology partly replaces
traditional payment processors and money transmitters. Bank of
America Merrill Lynch wasn‟t as optimistic in its forecasts. The Bank‟s
analysts predict a maximum „‟fair‟‟ estimate of bitcoin of $1,300.

The Winklevoss twins told CNBC that a $400 Billion market cap for BTC
would be a “small bull case scenario‟‟. With around 12 Million bitcoins
currently in circulation, to reach that market cap one bitcoin has to be
worth a fantastic $40,000. The brothers are major investors in bitcoin
after getting rich from an early investment in Facebook.

The largest potential for „‟disruption‟‟ to the current status quo lies in
taking a chunk out of the payment processors market. Visa and
MasterCard are estimated to take a 2 to 3 percent cut of every card
transaction. By using bitcoin instead, merchants stand to improve their
bottom line by at least 2 percent. In addition, because bitcoin
transactions are irreversible, there is no possibility for chargebacks and
fraud. This reduces the costs of operation by another several
percentage points.

Another area „‟ripe‟‟ for disruption is the money transfer market. The
market is currently dominated by large players like Western Union and
MoneyGram, WU for example can earn upwards of 10 percent per
transaction on international remittances. By comparison, a bitcoin
transaction shouldn‟t cost more than 5 percent even after accounting for
all exchange and bank wire fees for both the buyer and the seller on
each side of the remittance. If no fiat currency is involved, sending and
receiving bitcoins is almost free and costs 0.0001 btc regardless of the
amount. This is around 9 cents at current btc prices.

Additional Bitcoin Resources

There are plenty of resources online where you can learn more about
bitcoin and its unique properties. Here are some of the major websites
that can help you speed up the learning process.

Weusecoins.com Provides simple instructions for setting up your first

bitcoin wallet and purchasing bitcoins.

The Bitcoin Wiki. Plenty of articles on any bitcoin related topic that
range from securing your wallet, dealing with scams, mining bitcoins, to
a list of online and offline businesses that accept the new currency.

Bitcointalk.org The main bitcoin forum. Use it only after you‟ve got the
basics down by following the previous two links. Use this resource to
ask questions about more advanced topics.

Bitcoincharts is the most popular website for following the current

bitcoin price. The site provides a rundown of all major btc exchanges by
volume. You can also arrange the markets to only display the Euro or
the Japanese Yen versus bitcoin on the different exchanges. Like the
name says, the website also offers charts with several popular technical
indicators. The choice of timeframes ranges from 1 minute all the way to
the Weekly TF. Plus, you get to see the current market depth at the
different exchanges.
Bitcoinity.org Another popular charting resource, very similar to
Bitcoincharts. Recently switched to mBTC pricing, 1 mBTC = 0.001
BTC. They still offer the option to display prices in BTC instead.

CoinDesk.com Coindesk provides daily news on bitcoin and other

cryptocurrencies.

DC Magnates focuses on news about different digital currencies

including bitcoin. It was launched by the same team from Forex
Magnates, a popular forex industry news website that many of our forex
readers are probably familiar with.

Places to spend your bitcoins

The following three sites provide an interactive map of bitcoin

merchants near your area.

 http://bitcoin.travel/
 http://www.bitcoinmaps.org/
 http://coinmap.org/

https://en.bitcoin.it/wiki/Trade Provides a long list of bitcoin merchants.

The wiki page showcases different categories of businesses. You can
find anything from major retailers like Overstock and Target to forex
brokers accepting bitcoin deposits and bitcoin specific stock and options
markets.

https://en.bitcoin.it/wiki/Category:Games Bitcoin‟s pseudo anonymity

helped trigger a revival in the games of chance industry. This wiki page
provides a selection of places where you can gamble away your
bitcoins. Includes card games, dice rolls, poker sites and online casinos.

Bitcoinstore.com One of the first websites to offer bitcoin purchases.

Gyft.com By using bitcoins to buy gift cards from Gyft.com you can get
3% back. The selection of gift cards incudes major retailers like
Amazon, GameStop, Target, Wholefoods and a lot more.
How to trade Bitcoin smartly:

Technical analysis primer

You now know that bitcoins behave like usual shares or currencies. It
means you can apply all the powerful methods of technical analysis
— that‟s the collection of tools that was developed for professional
traders and have made many of them astonishingly rich. Of course, you
need to be smart (and, if you are reading this book, you definitely are!)
to outsmart the market and the brave. And, we have to add the usual
disclaimer: only invest money that you can afford to miss. Never invest
borrowed money as you might end in deep trouble otherwise.

What is the idea of technical analysis in a nutshell? —It is very

simple. You can gain much more for your investment if you do not
just sit and wait, but rather use the cyclic character of price
evolution and sell your stock (here bitcoins) when the price is high and buy
them again when the price is low. To do it properly, you need to determine
the trend and find the right moments when the trend is reversed.
Trend is your friend
Let us start with determining the trend. The easiest thing to do is to use a
moving average. That is a very simple approach that you can try in your
Excel spread sheet in a matter of minutes. I will show you how. The point
is that the price always fluctuates. Your averaging algorithm has to
smooth the fluctuation sufficiently, on one hand, while still showing you
the changes in the trend as soon as they occur (this property is called
responsiveness). Obviously, these two requirements are orthogonal,
and you need to balance them. Simple moving average (SMA) involves
just taking the price for a given day, add to it the prices at a given number
of previous days and divide the sum by the total number of days. So, the
value of every point of your SMA graph is (I take here an average over 10
days):

SMA10
1
pi 10 ( pi pi1... pi9)
The problem with this sort of averaging is that you take into account
equally the today price and the prices that happened many days ago.
As a result, your SMA10 curve predicts tomorrow‟s price mainly based
on the prices from several days ago. For such a volatile currency as
Bitcoin, this
is not a very good idea. To
correct for that, you can take
more recent price values with a
higher weight in your
averaging. The simplest
realization of the weighted
moving average (WMA) would
be just to account for the most
recent price twice. Or, for our
SMA10, we can
multiply the current day Bitcoin pricing Feb-June 2013 together with
price by 10, the previous day simple (SMA) and exponential moving
by 9 and so on averages (EMA). Note that EMA reacts faster
1 to the pricing changes.
piWMA10  (10 p 9 p
i i1
 ...  1p
i9
)
55
Another very commonly used approach is called exponential moving
average (EMA). It works like an integrator or low pass digital filter. It is
calculated recursively, so to calculate today‟s EMA, we need to know the
EMA from yesterday and today‟s closing price:

EMA10 2   2 p EMA10
pi  pi   1   i1
10  1  10  1 

When we calculate the first point long-long time ago we can simply
approximate EMA with SMA. If you compare EMA and SMA, you can notice
that EMA reacts faster to the changes in trend, while SMA better reflects the
average prices. The choice between them is your preference. You can also
think about some other smart ways to make an average.

All these functions are easy to implement in Excel or any other software of
your choice. I took some historic data from BTC-e and applied these
averaging methods to obtain trend lines.

Spoiler Alert:

Sounds like really complicated geek stuff? How about trading on

Autopilot with Bitcoin robot? By the end of our ebook, you will
learn how you can profit with Bitcoin on Autopilot without need
for any manual math crunching!
Trend signals: patterns and crossovers
Well, what can you learn from the moving averages? First, we can find
the trend: if our EMA or SMA goes down, the long-term trend is falling,
if it goes up, we have a long-term uptrend.

How can we determine when the uptrend changes into a

downtrend? Our averages can help us here as well using a
technique called “double crossover”. If we plot, for instance
EMA10 and EMA50, the point where EMA10 crosses above EMA50
indicates a crossover to rising trend and is called “golden cross”. If
EMA10 crosses below EMA50, this is a “dead cross” signaling the
beginning of a bearish market. Another type of signal can be created
when the actual price crosses the average, “price crossover”.

The crossover techniques are very useful when a long term trend
exists. If the price is volatile, it might create many false alarms.

Useful indicators can be obtained by drawing support and

resistance lines. These lines are defined by traders‟
psychology(greed, first of all) and represent the issue of supply and
demand. Support is the level at which buyers take control over the
market and prevent prices from falling further down. On contrary, at
the resistance level, sellers take control over the prices and prevent
them from rising higher. Breaking through support or resistance lines
often signals the beginning of a different trend. The drawing below
ill¬ustrates commonly occurring patterns and shows predicting power
of support and resistance lines.
Bollinger Bands: trend and volatility
Another very useful technical analysis tool was suggested by John
Bollinger and is called Bollinger bands. Bollinger bands define a
channel with the width proportional to the current market volatility
around the moving average trend line. Typically we take 20-
days simple moving average and step up and down two standard
deviations from it. So, we calculate

1
piSMA20  ( pipi1 ... pi19 ) and
20
1  2   2   2 
 pi pi  pi19
 p
 ... pi



SMA 20 SMA 20 SMA 20

STDi   pi i1 
20  

and draw three lines on the chart (see figure). Here is a short list of
predictions you can draw from the Bollinger bands:

• If band tightens as the volatility shrinks, you can expect a sharp

price move to follow;

• A price move that starts at one band usually carries to the other
one;

• When price moves outside of the band (provided the band itself
is not falling or rising steeply), the current trend will usually
continue.
Momentum indicators: a timely warning
So far, we‟ve only talked about techniques based on trends. They are
extremely useful, but most of the time, they identify a change in
trend after it has already happen. An early warning about exhaustion of
the current trend can be obtained with rate-of-change or momentum
indicators. The most commonly used one is the Relative Strength
Indicator (RSI). To calculate it, you need to find an AverageGain and
Average Loss during a certain period, typically 9 or 14days, take a
ratio of them

RS  Average Gain Average Loss

and then calculate

RSI  100 100 (1  RS)

So, if losses and gains are equal, the RSI is equal to 50, if no gains
have occurred during the period, RSI is 0, or if the gains are
overwhelming it tends to 100. The rule of thumb is that if RSI
reaches 70, the RSI is overbought and the trend will shortly change
downwards. This is a high probability sell signal. On contrary, RSI level of
30 indicates an oversold condition and the trend is expected to change
upwards shortly. This could be a good opportunity to buy. However, I
advise you not to take decisions based solely based on
a single indicator, in particular, RSI. Always combine it with Trend
analysis.

Spoiler Alert:

If you are not into manual trading, why not let an automated
Robot trade for you? How about trading on Autopilot with a
Bitcoin robot? By the end of our ebook, you will learn how you
can profit with Bitcoin on Autopilot without need for Math stuff!
Elliott Wave Principle
Now we will learn about some simple methods to predict future trend
development (of course, with a certain degree of probability). How can
it be done? Of course, we cannot see into the future, we cannot
predict hurricanes, server crashes, law suits or hacker attacks.
However, the point is that the evolution of prices depends largely on
traders‟ psychology; and the behavior of a large number of people is
statistically predictable.

A very common method is the Elliott Wave Principle. Back in 1939,

observing natural patterns, R.N. Elliott noticed that all cyclical
movements occur in some sort of waves, related to Fibonacci
numbers. The most common
pattern is the so-called “Five-wave
pattern”. Three out of five waves
(marked 1, 3, 5) follow the trend,
while two others (2 and 4) are
countertrend interruptions. These
interruptions are apparently a
requisite for the trend to occur.
Typically, this five-wave rise is followed
Elliott Five-Wave pattern
by a three-wave downward correction
forming an eight-wave
cycle. Interestingly this pattern has a
so-called “fractal” structure, in other
words, it repeats itself on different
scales. If we, for instance, zoom in on
waves 1 and 2, we can expect to see a
complete eight-wave cycle again. So,
the cycles occur on a very different
time scale and, by analyzing American
stock exchange Elliott could discern
nine degrees of waves,
from a long-term Grand Cycle down to very short-term Subminuette. The
figure shows schematically Elliott Wave for a bullish market, but a similar
pattern (now, with a main trend downwards) will occur for a bearish
market as well.

By following Elliott Wave, you can predict the next move of the market
and, for instance, foresee the trend change. Two typical patterns
indicating weakness of a bullish market are shown below: truncated
fifth wave and diagonal triangles.

Elliott Waves Principle and Golden Ratio

Another dimension of the Elliott Waves Principle is the Fibonacci
sequence. This sequence, in which the sum of two adjacent numbers
produces the next element of the sequence, has been known to
mathematicians for hundreds of years: 1, 1, 2, 3, 5, 8, 13, 21,… and so
on to infinity. This sequence is ubiquitous in Nature and present on all
scales from our DNA to the galaxies. One of its features is that the ratio
of two subsequent terms approaches 1.618, the famous
Golden Ratio. Coming back to the Elliott Waves, so-called
Fibonacciretracements help to identify areas of support and
resistance. Forexample, a sharp correction commonly tends to retrace
around 0.618 of the preceding wave, while sideways correction often
retraces 0.382 of the previous impulse wave. The Golden Ratio is also
present as a ratio of the impulse waves, which are often related as
equality, 1.618, or 2.618 ratios.

Elliott Waves Principle offers you a formidable arsenal for forecasting

market movement, but you should always remember that we always talk
about probabilities. If the market moves beyond the predicted pattern,
meaning that your conclusion is wrong, then the funds at risk should be
reclaimed immediately.

The science and practice of Elliott Waves is very rich and many
observations have been made since the time they were first
discovered. If you are interested, you can find a wealth of resources on
internet. The web site of Elliott Wave International is a good starting
point.

Your own trading system?

Based on technical analysis knowledge, you can develop your
trading system. The first thing you need to set is the timeframeof
your investment. If you can invest a large chunk of money, your
preference will be a long-term investment. Long-term technical
analysis produces more clear results since you can filter out all these
day-to-day price fluctuation and look at long-term trends. If you cannot
afford this, it is better to try medium and short range investments. This
is a complicated task and I would advise you to start with a long-term
technical analysis first, prove your ideas and predictions using
historical data, and only then focus on a shorter timeframes. The next
task of your trading system is to define the
entry point. The first thing here is to determine the long-term trend.It is
not advisable to open any position if the trend is downwards. The last
and the most important task of you trading system is to define the exit
point. You need to decide for yourself when you want to secure your
profit (Take Profit level) and also place StopLoss level in the case
when market starts to move in the oppositedirection.

Spoiler Alert:

You can develop your own system OR ... why not let an
automated Robot trade for you? How about trading on
Autopilot with a Bitcoin robot? By the end of our ebook, you
will learn how you can profit with Bitcoin on Autopilot without
need to develop a system yourself!
Let us try analyzing a real Bitcoin chart!
Now we know enough to apply some basic technical analysis and try to
make a forecast. You already know enough to make a qualified
decision. I use the data downloaded from BTC-e.You can not only plot
the Bitcoin price and volumecharts on this web site but also get the
entire set of data by clicking
“Load raw data”. Following the recipes in the previous sections, we did
some calculations in MS Excel and plotted the last few months of data
together with EMA10, EMA50 and Bollinger Bands.

According to the Bollinger band behavior, we observe tightening of

the band which could indicate a forthcoming change in trend. Indeed,
the support line was broken on May 26th followed by a downwards
price crossover on May 31st and a “dead cross” on Jun 6th. We
could therefore conclude that the current Bitcoin trend
is downwards. The market can possibly find support at around $100,
but the data is inconclusive so far. The advice to a short-term
investor would be to wait and not to enter the market at this moment in
time.
Technical analysis tools and resources
Your primary resource
in this respect is BTC-
e,you can select the
required set of Bitcoin
data and plot major
technical indicators, as
shown in the figure
below. By pressing load
raw data, you can
obtain a complete set of
Bitcoin data, day-by-
day, including open,
close, high, and
low prices, as well as
volume in BTC and Bitcoin charts at BTC-e
USD.

There is also a large number of Bitcoin blogs of which I would

particularly mention Bitcoin charts and analysis on
http://afbitcoins.wordpress.com/and forum athttp://bitcointalk.org

I can‟t help but mention Metatrader4 here. It is currently the most

popular trading tool on the Forex market. The program is actually a
terminal that connects you to the up-to-date information on the prices. A
wealth of technical tools is included into this incredibly powerful program
as well as a built-in macro language and the ability of automated trading.
You can also see the historic data, plot different trend lines and
indicators, place orders and set automatic stop-loss and take-profit limits
and many other things, all within
a small program. Although it is not yet possible to trade Bitcoin on
Forex (we hope this possibility will be provided shortly), established
currency pairs can be traded with bitcoins on Bit4X. This site also offers a
demo-account using Metatrader 4 together with a British trading firm,
VenetFX. To start trading, you need to register by sending an email to the
web-site support team and deposit 10 BTC on your account.

Here is a screen shot of Metatrader 4 window:

The panels showing real-time data on currency pairs can be

conveniently resized, type of graph, timing and other parameters can be
adjusted individually for each graph (in the example, I re-scaled
GBP/USD graph to show daily information starting from Dec. 2011 and
added two trend lines EMA 10 (red) and EMA50 (blue)). To help you
with predicting the trends, Fibonacci levels as well as a large number of
other technical indicators can be added to the graphs.

Spoiler Alert:

Too complicated? If you are not into manual trading, why not
let an automated Robot trade for you? How about trading on
Autopilot with Bitcoin robot? In the next chapter, you will learn
how you can profit with Bitcoin on Autopilot without the need
for any complex stuff!
 Automated Bitcoin trading?
How Can You Profit with Bitcoin?
Just a few years ago, the only way to profit was through so-called
“Mining”.

This is the “Hard Way”, for which you receive coins by helping the system to
verify secure transactions. This process requires a lot of computational
power, typically multi-core CPU system or specialized Bitcoin miners.
The algorithm is designed in such a way that mining becomes more and
more complex and less and less profitable with time.

Mining days are over!

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To make it even better, Bitcoin is decentralized. No one owns it...

it‟s like the Internet... you can shut down a machine but you can`t kill
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So, no matter how hard a government might try to put it down...

they cannot succeed!

The bottom line to EARN them, however, is that...

 Why Does
the BitCoin Robot Work?

Bitcoin is a young The higher the market No leverage trading: You The Robot is analyzing
growing market. volatility, the higher the are trading only on your the prices in all Bitcoin
Relatively small amount profit. During volatile own money without exchange marketplaces
of Bitcoin exchange months, the profit can taking Huge leverage in real time, exploiting
marketplaces ensure reach up to 100% per from the brokers like in the gaps and using
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during the trading day, months, it gives a stable to lose all your money is to take advantage of
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advantage of. 10-20% per month. opportunities.

How Does It Work?

Simply open an account Activate our Robot and let it Withdraw profits.
with one of the trusted trade for you!
Bitcoin trading exchange Choose between a simple
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Deposit an initial amount pre-installed VPS version:
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browser-based members
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This is not a forex Robot or MT4 based indicator B.S. It`s a custom
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 What’s Behind
the Bitcoin Robot Trading Engine?
When it comes down to technology and IT
developments, hats off, nothing comes close to
Russian brains!

We united our efforts with a team of the brightest

Bitcoin traders and programmers from Russia.

Don‟t get me wrong though. It‟s hard to be a pioneer

in the field. It‟s even harder to develop the first fully
automated system in the new market.

Yes, it was not easy. Over 2 years in development,

plenty of trial and error.

We really wanted to perfect it. Over 127,199 lines of

code. Sleepless nights and betatests in private
groups.
 FAQ:
1. If the Robot wins money, who loses it? Does the Bitcoin
exchange lose money if I win and eventually ban my trading?
Good question. No, the Bitcoin exchange market does not lose any
money due to your profitable trading. In fact, it is gaining a lot of
money because they charge 0.4% commission on every trade. For
example, yesterday their exchange volume was $512,213 , which
means +10 BTC commission made. The losers are other human
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manually or just pay too much when buying Bitcoin!

It‟s harsh but money is not produced from thin air. It comes from
losers that don‟t have advanced tools like our Bitcoin Robot and
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2. How much money do I need to start? Thousands of dollars??

No, you can start as low as $100. This is the main advantage of
Bitcoin trading, the entry limit is very low.

3. Is it risky? Can I lose the deposit?

You are trading only on your own money without taking huge
leverage from the brokers like in Forex, meaning the risk of losing all
your money is small to non-existent.

4. Will it provide 100% winning trades?

100% winning systems are impossible, so don‟t be fooled by so

called “Get Rich scams” promising that.
Obviously, our Robot is not a crystal ball and you will have some
losing as well as winning trades. The goal is to make a solid net
profit monthly.

4. Do I have to keep my computer ON all the time or buy a

VPS server like with forex?
You can choose between two options. The most affordable Silver plan
comes with Windows based software which trades from your own
computer. Similar to you trading Forex on Metatrader4 on your
computer. So it must be on at all times during trading.

If you choose the Gold Plan, the Robot comes fully preinstalled in
your web browser based members area! Nothing to setup or
configure. It‟s completely human error-free & 100% autopilot.

5. What if my internet connection gets interrupted

during trading?
No problem. The Robot will resume trading from the point it left and
catch up on the trades.

However, if you experience constant internet connection issues in your

area, it‟s safer and more profitable to use the Gold plan where the
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5. What if many people trade it, will it become less effective?

No. The beauty of Bitcoin trading Robot algorithm is that it uses a

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This way Robot stays effective even if many people trade it

independently.
6. Is it better than Forex?

Yes. Less risky. More profit. No broker spreads or ridiculous

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7. Do you trade it yourself? If it is so good, why would you

sell it?
Yes, we do trade it and you saw the live trading proof. Why do we sell
it? We could probably write something hypocritical here, that we want to
make everyone rich and happy, but I will be honest with you. We are
just greedy. If you have an opportunity to make more money, will you
pass it by? The amount of traders using the Robot does not affect its
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It‟s like when people invented the plane; nobody drives such long
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The world has changed. And so have the tools!

 Here is what
I want you to do next:
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The future is one step away from you.
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 It’s time for you to take action
and secure your spot.
Remember, the early bird catches the worm.

You already missed the early founding Bitcoin days with mining
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To be a successful money maker, you need to stray off the beaten paths... and
THIS is your chance now! Who knows what will happen in a year from now?
What if everyone owns Bitcoins by then and the market volatility sinks?
Thousands of people are buying Bitcoin everyday... you can get ahead of them
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By the time the gold rush is over, you could have earned tens of thousands of
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Sincerely,
the Bitcoin Automated

Trading Development Team

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