Why Goldman Sachs is Wrong About Bitcoin - thecryptoreport.com

Will there be another 2017-like crypto pump ever gonna happen again? My rant on the future of crypto, ICOs, and 2018

Background
I've been getting several messages lately inquiring about my old post from which I borrowed $30k to buy ETH back in May: https://np.reddit.com/ethtradecomments/68oshw/just_borrowed_30k_to_buy_eth_stay_tuned_for_the/
I started typing a long response to someone who asked me whether he thinks there's gonna be another opportunity like ETH in the future (from which I made over 100X returns, buying most between $10 and $100, and cashing out 90% at $1000-$1200)...and I realized I typed so much info that it could be worthwhile to share it with the community.
Before I start my rant though... about the loan I had taken out at the time: don't ever invest in more than you're willing to lose.
Opportunities will always come, in one way or another. Today is crypto, yesterday was flipping houses, before that was penny and internet stocks. But from a crypto standpoint, opportunities in this field are gonna be more rare. Bitcoin, ETH, and other large caps coins are probably done for for a while -- they'll go up in the long run but I don't think we'll see another new parabolic rise of 1000+% gains for a long while. People switched to ICOs after seeing some of the 3-10X gains, but the wild west of unregulated ICOs is starting to lose steam, mostly due to regulatory barriers.
Identifying Fundamental Disruptions
I invested in ETH first at $10 and buying all the way up to $100 (the $30k loan got me ETH at $80 each), and while others were selling for 2x flips, I was able to hold it all the way to $1000+. I think this is important to mention in the context of this post because of the necessity to realize the long-term disruption that lays ahead. At the time, I realized that ETH was about to give altcoins/tokens the ability to be speculated on due to their direct utility association in a tech startup's main business mechanism. I firmly believed that ETH should be worth at nearly as much as, if not at least, BTC in market cap because of this. Prior to ETH, it was just Bitcoins and then all clones/shitcoins. ETH gave rise to ICOs and speculative coins that could be assigned potential business value to it, thereby making crypto markets what it is today. Frankly, the entire crypto market owes ETH, and respectfully BTC of course, for what is today. Note though: I rolled the dice big for ETH, but even my $30k investment at the time was only about a quarter of my savings at the time. So again, don't invest in more than you are willing to lose or sleep soundly at night.
The Future: Increasing Regulation
Anyway, turning to the future. Here's what I think is going to happen. SEC is going shutdown alot of ICOs; they are really cracking down on ICOs claiming to be utilities, even if disguised through airdrops or SAFTs. In fact, just today's WSJ news said SEC issued subpoenas to multiple ICOs and have taken interest in SAFTs for so-called utility tokens. Just like the dot-com bubble, 90%+ of these previous ICOs are gonna tank and fail. We're gonna see a massive correction probably later in 2018, when roadmaps with major expected milestones start missing their deadlines, and a domino effect happens when SEC starts really flexing their muscle and forcing exchanges to go into delisting mode (we already are starting to see this with Bittrex).
But a Hidden Opportunity
So about looking for another crypto pump opportunity.... When the culling happens, the survivors are gonna be as follows. Look for US-based ICOs that have been SEC-compliant from the outset, or at least making a strong effort to do so. Having a legal advisor or team member will be big this year. Don't be afraid of lockups or holding periods if it's for the purpose of being SEC compliant (signs are mentions of Reg CF, Reg D, Reg S, and Reg A+ offerings... you could google these keywords with their company name to see if they have a filing record in SEC's database). See if these ICOs and team leaders had a successful and profitable business in the past, or at least spun out of a profitable company. Also, there's way too much bullshit with partnerships, many which are fake or with useless no/name companies. Next, a lot of these open ecosystem platforms rely on partner companies to attract customers -- but why would companies join when there are no customers, and vice versa. It's all bullshit and often pump and dump shilling. What you want is a closed ecosystem (think Apple iOS) to help consumers navigate the business model. An open ecosystem where customers have to attach their own crypto wallet, blah blah blah, yay decentralization, yeah... well that's all never gonna see mass adoption (think Linux... some hardcore advocates exist, but what layperson actually wants to operate command lines or deep menus all day long and accidentally break their system with one wrong syntax). Look how successful Coinbase has become by simplifying crap. Too much shit is focused on the crypto side and it's like a foreign language to mainstream customers who won't touch it with a ten foot pole. Look for ICOs that are consumer focused rather just have solely an ICO page. It's particularly appealing if they have a self-directing strategy in the form of a tangible product they can sell to generate data or transactions in their ecosystem, which would naturally attract additional customers/companies into their platform.
Examples:
These companies with revolutionary ideas, who are making an effort to be legally compliant and also have a tangible product, are the ones that are gonna survive the mass culling of alts and ICOs later this year. If we ever get our first ICO unicorn (from revenue, not pumped market cap of their token), then it will bring truly mainstream recognition of the crypto markets that will give the traditional stock markets a serious run for their money. I'm not talking about less than 1% of the $70 trillion stock market value of the world -- I'm talking like double digit levels of the entire global stock market. And I bet you it will happen. This is the sorting-out phase of the future -- a shift from old world Wall Street-type money to Silicon Valley. Crypto allows direct investments into technology startups, and tokenization of the actual business transaction mechanism cuts down all the traditional valuation crap dealing with public relations and whatever meta valuation factors. If the business is making sales, then the token is worth something, and that's all that matters. If the business is losing sales, then the token is worth less. Straightforward.
When All The Puzzle Pieces Fit Together
Two more things to note. First: If ETH successfully pulls off scaling through sharding/raiden and drastically reduces gas fees through proof of stake, then it will be fit for enterprise use. ETH's stress tested blockchain with upgrades will facilitate real world adoption (Most of these ERC20 platforms are currently not fit for real adoption due to high gas fees and low TPS). Otherwise, consider hedging into alternative smart contract-, high volume-, low cost-capable platforms with implementation documentation (e.g., Stellar) to potentially get some good gains. Second: A lot of these current crypto exchanges are not registered ATS's (alternative trading systems) that are permitted to trade securities by the SEC, so they can only trade utilities. But SEC is cracking down on these fake-utilities and are deeming them all securities... that's gonna leave these exchanges in the dust. So we're seeing big companies entering this space, Overstock building tZero, Circle/Goldman Sachs acquiring Polo, Cobinhood, etc. They are prepping for ATS compliance, and when legal tokenized securities become tradeable, they will be traded on these platforms... not hot messes like Binance. And they will be user friendly -- gateways for mainstream to invest directly in the tokenized assets of a company's core business model. It's all culminating to the survival of legit companies, mainstream adoption, and these are your clues. Enjoy trading shitcoins while they last, but don't get caught with your pants down bagholding them.
Rant over.
TL;DR Look for coins based on fundamentals and legal compliance so they will survive the massive culling in late 2018 when roadmaps don't meet milestone deadlines
Edit: Grammar, and Readability
submitted by slickguy to CryptoCurrency [link] [comments]

How does the Blockchain Technology Change the Finance?

01 Through Cross-Border Payment , New Asset Types and other Regulatory Compliance Many large banks, central banks, financial institutions, idea banks, inquiry companies and the futurology reasearch laboratory of government committee all raise their questions on this issue.
R3CEV, an organization which is composed of the large banks in the globe, is trying to make explanation on this issue. The Goldman Sachs, McKinsey and Consumers’ Research had been put forward fabulous reports based on this issue, while the UK government, the US senate, Canada, Australia and European Union also carry out related surveys on it.
Many startup companies has made the white paper for the innovation and application of blockchain technologies, among which will mention a larger social issue, “How does this technology change the society?”
Plenty of studies underline the following four major changed fields:
02 The Infrastructure of Cross-Border Transactions
As we all know, the digital revolution has changed the media thoroughly, which will also have influence on the financial industry to some degree. Besides, the financial organizations had been used the computer long before. From 1970s to 1980s, they set the computer as their databases, take advantage of the computer to create the website interface in 1990s and shift their focus on developing the mobile App in 21rst century. However, the digital revolution has little influence on the cross-border transaction. The West Union still remains big problems, since it uses the same business to operation related programs. Like the easy operation of cross-border remittance, the bank still use the complicated infrastructure to operate it.
The information chart below is provided by Richard Gendal Brown, it displays the development of cross-border business infrastructure and intermediary organs from 1970s till now. This structure is the outcome caused by the financial industry applying the high-security protection system on private database.
The Blockchain technology is to construct the direct relation between the financial institutions and does not need the correspondent banking any more. The main product of R3 aims at deal with the business of correspondent banking. Corda is consisted of two vocabulary “accord” and cord. In the case of Corda, the circle is composed by the banks which uses the shared account book and those banks use the shared account book to deal with the transactions, agreement and important documents.
Mr. Brown used to work in the IBM’s Blockchain project and then shift to the R3CEV. The competition between financial organizations can use the universal database to track the implement of transactions, liquidation and clearing without involving any central database or management system. In a nutshell, banks will be able to formalize and protect each other’s digital relationships in the way that were previously impossible to implement. In the description mentioned above, it means that the correspondent banking agreements and the Real Time Gross Settlement, RTGS will be replaced. Transactions can be carried out in the P2P smoothly. Ripple, a private link, is used to solve many of these issues.
c As a Classification Digital Asset
Bitcoin has created some special things: digital property. Before the Bitcoin, word “digital” is not rare. Any digitization stuff can be copied through a click button and it can be proved in the musical industry and album sales.
However, bitcoin does something fancy: it create a digital code that can’t be copied. Therefore, since the invention of the bit character, we have the way to copy the number for the first time, which gives the digital code a kind of value. Until now, the value bitcoin is based on the blockchain to prevent the double cost and fake coin. Concerning this point, the creator of blockchain create the coloured coins as company’s shares. The 'color' of these coins represents the ownership information provided by the private encryption key.
After the permission of U.S. Securities and Exchange Commission, SEC, the online retailer giant Overstock declare that Announced that it will publicly issue company shares on its own blockchain platform. We also saw the emergence of “Initial Coin Offering (ICO)” and “appcoins” (the native cryptocurrency of applications used to assist project development financing). This case are part of blockchain digital asset. Blockchain can be considered as the digital asset as well as the market operation itself. Basically, this digital asset can be regarded as the bearer instrument, a extensive and ingenious application.
04 Management and Market
For the regulators, the blockchain can be a completely transparent and suitable recording system. Once coded, they can also be used to authorize transactions that comply with regulatory filings. For example, banks have strict reporting obligations to institutions such as the Financial Crimes Enforcement Network (FinCEN). As long as the bank approves any transaction that exceeds $10,000, it will need to report it to FinCEN, and FinCEN will store the information as an anti-money laundering database.
06 Clearing and settlement
For the paper world transactions, the time frame for clearing and settlement transactions is usually “T+3” - that is, three days after the transaction.
Through blockchain technology, the entire trading cycle—execution, clearing, and settlement—can occur in the same step. Under digital assets, transactions mean settlement, and mastery of encryption keys and digital ownership, which can reduce post-trade latency and counterparty risk of the other party's non-compliance.
07 Accounting and auditing
Although most databases are snapshots at a certain point in time, the blockchain database is constructed based on its own transaction history. They are a database with context, history, and independent records. This has far-reaching implications for accounting and auditing.
submitted by DigiEx-1 to BlockChain_info [link] [comments]

MỘT HÀNH TRÌNH DÀI CHO MỘT CUỘC CÁCH MẠNG...

📷

Thời điểm này của 10 năm trước, sự sụp đổ của Lehman Brothers cùng nền kinh tế thế giới đã khiến cho một ý tưởng về loại tiền tệ thay thế ra đời, nó được tạo ra trên mạng trực tuyến và trong âm thầm.

Ngày 31 tháng 10 năm 2008, bitcoin ra đời và trong 10 năm qua đồng tiền số này đã thu hút được sự chú ý của những coder có quan điểm chống lại các nguyên tắc xã hội và là một cái tên “cửa miệng” xuất hiện trên Phố Wall.
Hôm thứ Sáu, đồng tiền số này đóng cửa ở mức 6300 USD, chỉ là một phần rất nhỏ so với mức đỉnh gần 20.000 USD của tháng 12 năm 2017. Tuy nhiên, giá trị hiện tại của bitcoin vẫn cao hơn rất nhiều so với lần đầu tiên giao dịch và chắc chắn rằng phần lớn các nhà đầu tư vẫn giàu có hơn nhờ nó.
Đi tìm Satoshi
Có lẽ điều dễ gây nhầm lẫn nhất về bitcoin là câu chuyện về nguồn gốc của nó. Bitcoin được phát minh bởi một nhà mật mã học bí ẩn tự xưng là Satoshi Nakamoto. Người này đã viết một cuốn sổ trắng (white paper) vào khoảng một thập kỷ trước, tuyên bố rằng mình là một người đàn ông đến từ Nhật Bản. Tuy nhiên, theo một số suy đoán thì kỹ năng tiếng Anh rất chuyên nghiệp của người này cùng phần mềm bitcoin không được dán nhãn bằng tiếng Nhật, thì điều đó lại không chắc chắn, có thể đây là một người Mỹ, Ai-len hoặc Phần Lan.
Khi bitcoin bắt đầu phổ biến, Satoshi gửi email tới một nhà phát triển bitcoin, nói rằng nhà sáng lập này đã “chuyển sang những lĩnh vực mới”. Sau đó, Satoshi biến mất trên các diễn đàn vào năm 2011 và chuyển giao quyền kiểm soát cho Gavin Andresen, một kỹ sư phần mềm. Tuy nhiên, Satoshi không hề ra đi với bàn tay trắng, người này đã nắm giữ khoảng 1 triệu bitcoin trước khi biến mất. Hiện tại, số tiền đó có giá trị hơn 6,2 tỷ USD.
Theo sổ trắng, mục tiêu ban đầu của bitcoin khá đơn giản, là một phiên bản tiền điện tử ngang hàng cho phép các khoản thanh toán trực tiếp được gửi từ bên này sang bên khác mà không thông qua tổ chức tài chính.
Bitcoin trở nên phổ biến
Đồng tiền số này bắt đầu thu hút được sự chú ý của các diễn đàn trực tuyến và đến năm 2009, 50 bitcoin đầu tiên đã được đào. Quá trình này là một quá trình tiêu thụ năng lượng, được thực hiện trên các máy tính có công suất cao, giải mã các phép tính toán học xác nhận các giao dịch trên cuốn sổ cái. Giao dịch bitcoin đầu tiên diễn ra chỉ hơn một tuần sau đó, được Satoshi “sang tay” cho nhà phát triển phần mềm Hal Finney.
Vài tháng sau, giao dịch thực tế của bitcoin lần đầu tiên đã diễn ra. Ở thời điểm đó, nó không có giá trị thực. Tuy nhiên, ngày 5 tháng 10 năm 2010, một lập trình viên đến từ Jacksonville đã trả một chiếc pizza cho 10.000 bitcoin, cùng đó sử dụng tỷ giá hối đoái mới được thiết lập của bitcoin, là khoảng 25 USD, theo CoinDesk. Nếu vào tháng 10 năm 2018 thì anh này phải trả 63 triệu USD cho chiếc pizza đó.
Đến cuối năm 2010, bitcoin nổi lên như một đồng tiền tệ thật với giao dịch trên điện thoại đầu tiên và có tổng giá trị lên tới 1 triệu USD.
Mt.Gox và Con đường tơ lụa
Mt.Gox đưa bitcoin lên sàn, nhưng không như một số người hy vọng. Sàn giao dịch bitcoin đã được ra mắt vào năm 2010 và 3 năm sau, Mt.Gox xử lý khoảng 70% giao dịch tiền số trên toàn thế giới. Trang web này đã bị hack rất nhiều lần vào năm 2011, khi đó bitcoin đạt mốc 1 USD. Sau đó, sàn tiền ảo này đã bị đóng băng bởi hệ thống ngân hàng của Mỹ do những vấn đề pháp lý. Và đến năm 2013 thì ngừng giao dịch, bị đóng cửa trang web và đệ đơn xin bảo hộ phá sản.
Con đường tơ lụa là một “mối thù” khác đối với bitcoin. Thị trường “dark web” tạo điều kiện thuận lợi cho những vụ mua bán súng, ma tuý và hàng hoá bất hợp pháp khác, hầu hết qua bitcoin. Bitcoin thường được gọi là đồng tiền tệ cho tội phạm, đây là cách bitcoin được phân loại bởi những người nghi ngờ về vị trí của nó trong hệ thống tài chính hiện đại.
Giá trị của bitcoin đã sụt giảm sau khi các quan chức của cơ quan thực thi pháp luật của Mỹ đóng cửa Con đường tơ lụa. Năm 2015, nhà sáng lập của trang web này đã bị kết án tù chung thân. Nhu cầu về bitcoin có thể sẽ cạn kiệt sau khi trang web bị đóng cửa, nhưng trong những năm sau, điều ngược lại lại xảy ra.
Đối với một số người, sự ráo riết của chính phủ trong những năm đó lại tạo cơ hội để mua bitcoin. Nhà đầu tư mạo hiểm Tim Draper là một trong những số đó, ông mua bitcoin sau khi Mt.Gox đóng cửa và gọi nó là “công nghệ tuyệt vời nhất kể từ khi internet ra đời”. Sàn giao dịch tiền số Coinbase mới đây cũng được định giá đến 8 tỷ USD, được thành lập vào khoảng thời gian đó, năm 2012.
Ngoài ra, Overstock.com, Newegg, Expedia, Microsoft, Dish Network, OKCupid, CheapAir và Etsy cũng nằm trong số những công ty chấp nhận thanh toán bằng bitcoin cho một số khoản nhất định.
Từ tháng 3 đến con số 20.000 USD
Đến năm 2017, các nhà đầu tư đã sử dụng bitcoin với mục đích đầu cơ, nhiều hơn là để mua xe hay pizza. Nó còn được so sánh với vàng kỹ thuật số và là một lựa chọn tiềm năng cho khoản đầu tư thay thế, một đồng tiền tệ an toàn trong bối cảnh rối loạn của thị trường chứng khoán.
Năm ngoái, nhiều nhà đầu tư đã bị quan điểm FOMO “điều khiển” – fear of missing out (tạm dịch: sợ rằng mình sẽ bỏ lỡ). Đầu năm ngoái, bitcoin có mức giá dưới 1000 USD và đến tháng 12 đã được giao dịch với hơn 19.000 USD, nâng tổng số lợi nhuận lên 1300%, theo CoinDesk. Mức tăng đó mang đến một kỷ nguyên mới cho các triệu phú tiền số. Tuy nhiên, vào phiên giao dịch hôm thứ Sáu, nó đã giảm hơn 60% so với mức đỉnh và đóng cửa phiên ở mức 6300 USD.
Hợp đồng tương lai
Mức đỉnh của bitcoin làm hài lòng nhiều người, họ hy vọng rằng nó sẽ trở nên phổ biến – một thị trường hợp đồng tương lai. Sàn giao dịch Chicago Mercantile Exchange (CME) đã giới thiệu về giao dịch hợp đồng tương lai của bitcoin sẽ diễn ra vào ngày 17 tháng 12, cùng ngày với thời điểm bitcoin chạm mức đỉnh là 19.783 USD.
Cơn sốt ICO
Khi giá trị của bitcoin leo thang, các đồng tiền số khác và những cách thức gọi vốn được gọi là ICO (lần phát hành token đầu tiên ra sàn chứng khoán tiền số). Token hoặc các đồng tiến số được bán ra thông qua ICO hứa hẹn sẽ nhận được một khoản hời trong tương lai, hoặc như ethereum, được sử dụng để truy cập nền tảng blockchain thực tế. Phương pháp gọi vốn này xuất hiện vào năm 2013 nhưng đã rất phổ biến vào năm ngoái khi nó mang về hàng tỷ USD từ các nhà đầu tư bán lẻ.
Nhờ có ICO, có hơn 2000 đồng tiền ảo đã tồn tại, theo CoinMarketCap.com. Nhiều người đã thất bại ngay từ khi bắt đầu, nhưng toàn bộ vốn hoá thị trường tiền số đã lên đến hơn 200 tỷ USD – bitcoin chiếm hơn một nửa số đó, với mức vốn hoá là 113 tỷ USD.
Hoạt động huy động vốn của ICO đã thu về 12 tỷ USD chỉ trong năm nay, nhiều hơn tổng số thương IPO trên các sàn giao dịch hơn của Mỹ. Rất nhiều trường hợp ICO bị cáo buộc là lừa đảo và được các nhà quản lỹ của Mỹ liên tục cảnh báo.
Đầu năm nay, các công ty công nghệ như Google, Facebook và Twitter đã cấm những quảng cáo tiền số, chỉ ra rằng họ đang nỗ lực để bảo vệ các nhà đầu tư bán lẻ khỏi các trường hợp gian lận.
Phố Wall đang dần chấp nhận
Phố Wall có động thái chậm rãi nhưng chắc chắn sẽ chấp nhận bitcoin là một khoản đầu tư chính thống.
Martin Chavez, CFO của Goldman Sachs, cho biết ngân hàng đang làm việc với những giao dịch bắt nguồn từ bitcoin, được gọi là “non-deliverable forward” (hợp đồng kỳ hạn tiền không giao dịch) do nhu cầu tư khách hàng. Cựu CEO Lloyd Blankflein chia sẻ trên Twitter rằng, Goldman Sachs “vẫn đang suy nghĩ về bitcoin” và ngân hàng “không từ chối/xác nhận”. Ngân hàng này đã thanh toán những hợp đồng tương lai có liên kết với bitcoin do Sàn giao dịch quyền chọn Chicago Board Options Exchange (CBOE) và CME cung cấp từ tháng 5 và đang cung cấp thanh khoản cho khách hàng của các hợp đồng tương lai đó.
Ngành công nghiệp mới này cũng chứng kiến nhiều thương vụ hợp tác giữa Phố Wall và các công ty tiền số. Fidelity cũng đã hợp tác với Coinbase để khách hàng có thể theo dõi số tư tiền số. Nasdaq đã công bố thương vụ hợp tác với sàn giao dịch tiền số Gemini, được thành lập bởi Winklevosses. Thoả thuận này đã cho Gemimi có quyền truy cập vào công nghệ giám sát của Nasdaq để hỗ trợ cung cấp một thị trường và là “thị trường dựa trên những quy tắc” cho các khách hảng riêng của họ.
Có lẽ “phiếu thuận” lớn nhất đến từ các nhà đầu tư của các tổ chức “khét tiếng”.
CIO David Swesen của Yale đã đầu tư vào ít nhất hai quỹ đầu mạo hiểm, trong đó có blockchain và tiền số. Dù những thương vụ đầu tư đó vẫn chưa rõ ràng rằng có phải bitcoin hay không thì đó lại là một dấu hiệu tích cực cho tương lai của ngành công nghiệp này.
Dù có rất nhiều sự quan tâm trong thời gian gần đây, CEC vẫn chưa chấp thuận một quỹ ETF bitcoin. Cơ quan này đã công bố trong một lá thư, chỉ ra “các vấn đề để bảo vệ nhà đầu tư cần phải được kiểm tra” trước khi các nhà tài trợ có thể cung cấp khoản tiền này cho các nhà đầu tư bán lẻ.
Những lời chỉ trích
Một số vị CEO danh tiếng của Phố Wall lại không bị “lay động” bởi bitcoin. CEO của JPMorgan – Jamie Dimon nói đây là một trò gian lận. Warren Buffett đã rất nhiều lần phản đối bitcoin, cho biết đồng tiền số này là một “liều thuốc chuột”. Nhà quản lý quỹ đầu cơ Citadel – Ken Griffin là một trong rất nhiều người đã chỉ ra những điểm tương đồng giữa bitcoin và cơn sốt hoa Tulip trong những năm 1630.
Công nghệ Blockchain
Ngay cả khi bitcoin không tồn tại trong 10 năm nữa, rất nhiều người ở Phố Wall đang cá rằng công nghệ cơ bản của nó vẫn phổ biến.
J.P. Morgan Chase, IBM, Deloitte, Amazon and Facebook nằm trong số những công ty sử dụng công nghệ blockchain riêng dành cho các doanh nghiệp, phần lớn không có liên quan đến tiền số. Trong khi đó, số thương vụ mua lại và sáp nhập của các công ty blockchain và tiền số đã tăng gấp hơn gấp đôi trong năm qua trong bối cảnh bitcoin giảm 54% giá trị.
Giờ đây, các giám đốc điều hành dường như lại trả qua hiện tượng “FOMO” trong công nghệ blockchain giống như các nhà đầu tư bán lẻ vào năm ngoái. Trong một báo cáo của PwC vào tháng 8, 84% các giám đốc điều hành được khảo sát đều cho biết công ty của họ đang “tích cực tham gia” vào công nghệ này.
CNBC
Nguồn: Bitcoin News
submitted by phuochuu to u/phuochuu [link] [comments]

What CEOs, Bankers, and Tech Execs Think About a Coming Recession

When the next recession inevitably strikes, how bad will it be?
That was one of the questions we posed to CEOs, bankers, and tech executives on the sidelines of Fortune’sBrainstorm Finance conference in Montauk, N.Y., in mid-June. The query provoked responses ranging from fears of a cataclysmic collapse to calm dismissal of any economic angst.
As the U.S. economy cautiously cheers on 10 years of growth, the longest period of expansion in American history, people are increasingly asking when the boom-times will come to an end. Recent signs of a potential slowdown—the national output of goods and services grew 2.1% last quarter, down from 3.1% in the first quarter, per the Commerce Department—has also raised investors’ unease.
Several CEOs cited global trade issues as a factor contributing to a possible, eventual meltdown. Hikmet Ersek, CEO of Western Union, said that the protectionist political environment, as manifested in trade conflicts under President Donald Trump, is “bad for business.” He noted that “when goods move jobs are created, and when money moves jobs are created,” and he said that policies encouraging such mobility “will definitely hinder recession.”
Greg Becker, CEO of Silicon Valley Bank, echoed Ersek in pinpointing trade issues and a concomitant slowdown in global growth as root causes of an eventual downturn. He described the next recession as likely to be “a self-inflicted wound.”
“It’ll be a perception-created recession,” Becker said. As more people fear an economic pullback, they will “pause spending” and thus, ironically, create the recession they feared, he said.
The possibility of a recession was clearly on people’s minds at Fortune’s financial summit. “We’re all talking about it,” said Lisa Marchese, head of corporate development at American Express. Despite the glum chatter, Marchese remained optimistic that companies and governments have been thinking through “proactive strategies for how to manage in a downturn, as opposed to reactive” ones.
“I think we’re a smarter world for having been through 2008, 2009,” when the last major economic downturn struck, Marchese said. That crisis, generally regarded as the worst economic slump since the Great Depression, precipitated when a housing bubble fueled by subprime mortgages went bust.
Harit Talwar, head of consumer banking at Goldman Sachs, agreed that Wall Street will be better prepared this time around versus a decade ago when many banks needed bailing out to the tune of hundreds of billions of federal dollars. “I do think that the banking industry has more capital—is more well-positioned—today than, perhaps, it has been earlier,” he said.
Marie Wieck, general manager of IBM’s blockchain program, which sells software that tracks food, money, and other assets on so-called distributed ledgers, emphasized how newly developed technologies could counter a downturn. “We are better equipped with A.I. and blockchain and other mechanisms that can actually help us detect volatility more quickly and actually react to it,” she said. Such new technologies can help “detect and prevent—dampen—some of the impacts” on the market, she said.
But not everyone’s vision of the future was so rosy. Patrick Byrne, CEO of online retailer Overstock.com, sounded an ominous note for the years ahead. “I think it will be bad,” he said. “To be honest, I think that ’08 was the hors d’oeuvres course.”
Bryne, a longtime cryptocurrency enthusiast, compared what he expects will happen to the economy to what might happen to a bridge overloaded with too many vehicles. “It’s a little bit like asking me there’s a bridge that was designed to hold 20 cars passing over it at a time and there’s now 100 going over it,” Byrne said. “When’s it going to break? When’s it going to collapse? That’s really your answer.”
“I’m kind of shocked it’s gone on this long,” Byrne continued. “I think that we have deep, deep, structural, architectonic level problems in our economy that will surface.”
* More Details Here
submitted by acerod1 to Business_Analyst [link] [comments]

Never before in the history of Wall Street has a single conference call mentioned the following topics: miscreants, an unnamed Sith Lord he hopes the feds will bury under a prison, gay bathhouses, whether he is gay, does cocaine, both or neither. Mark Cuban(what a surprise from this guy)

Never before in the history of Wall Street has a single conference call mentioned the following topics: miscreants, an unnamed Sith Lord he hopes the feds will bury under a prison, gay bathhouses, whether he is gay, does cocaine, both or neither, and an obligatory 'not that there is anything wrong with that,' phone taps, phone lines misdirected to Mexico, arrested reporters, payoffs, conspiracies, crooks, egomaniacs, fools, paranoia, which newspapers are shills and for who, payoffs, money laundering, his Irish temper, false identities, threats, intimidation, and private investigators. All in 61 minutes."
-Mark Cuban is now short 20,000 shares of Overstock (fuck this guy btw)
Hey guys, I started doing some crazy research and I came upon this company called Overstock.com, basically its a competitor to Amazon but unnlike its competition it also has been accepting Bitcoin since 2014.
"IN FIRST DAY WITH BITCOIN, OVERSTOCK DOES $126,000 IN SALES" (https://www.wired.com/2014/01/overstock-bitcoin-sales/) at around 500 per bitcoin now they are worth now around 1.5m. It then increased to 300k sales per day in Bitcoin. This guys says he was keeping only 50% (I think he was keeping all of it)
This company stock has doubled in the last months, but their valuation is still way off (It has Amazon potential). Backstory: the CEO Patrick Byrne (comes from an "honorable" family, he has a PHD in Philosophy, 3 time cancer survivor) got fucked by corporations like Goldman Sachs during 2008, (he later sued and won against most of the financial coporation that fucked him). He came out explaining the method of how Wall Street(Goldman Sachs and co) manipulated the market by using a technique called "Naked short selling".
Its worth investigating! (https://www.youtube.com/watch?v=BdBe5_8z53A its an 8min explanation, what he says really puts into perspective how crooked this people are) (Also SEC verified that this does happen and a lot) https://www.sec.gov/investopubs/regsho.htm
Basically what they did is put a straw in the financial system that they can suck to get money whenever they want by fucking over smaller companies. Needless to say the press came out saying he was crazy, that it wasnt true, classical defamation campaign by the way, but to be fair he said that a Sith Lord was orquestrating all this (Now I kind of believe him)
So this guy was really fucking pissed and when he heard about Bitcoin he went balls deep! I researched a bit and Overstock investing company "Medici Ventures" has been developing blockchain applications that are incredibly well developed and serve enterprise needs (this are the companies that big investors and companies will use).
You will have a hard time finding this story on the news since they mostly hate Overstock and describe it as a "obscure ecommerce platform" (https://www.cnbc.com/2017/10/17/traders-bet-on-overstock-over-bitcoins-blockchain-technology.html)
If Bitcoin/Ethereum/cyrpto performs like we hope, this is one of the companies that could make Bitcoin and blockchain go mainstream and also hit back real hard at the financial system. (Patrick Byrne personal vendetta)
What do you guys think?
TL;DR:
Overstock stock is worth looking into and basically Wall Street are treacherous pigs that will stop at nothing to get money from anyone weaker than them.
Also, after reading how Wall Street really fights (hard, dirty, illegal and fast), everyone should keep their REAL money in a hardware wallet!
submitted by odracir9212 to ethtrader [link] [comments]

Never before in the history of Wall Street has a single conference call mentioned the following topics: miscreants, an unnamed Sith Lord he hopes the feds will bury under a prison, gay bathhouses, whether he is gay, does cocaine, both or neither. Mark Cuban(who else hates this guy)

Never before in the history of Wall Street has a single conference call mentioned the following topics: miscreants, an unnamed Sith Lord he hopes the feds will bury under a prison, gay bathhouses, whether he is gay, does cocaine, both or neither, and an obligatory 'not that there is anything wrong with that,' phone taps, phone lines misdirected to Mexico, arrested reporters, payoffs, conspiracies, crooks, egomaniacs, fools, paranoia, which newspapers are shills and for who, payoffs, money laundering, his Irish temper, false identities, threats, intimidation, and private investigators. All in 61 minutes."
-Mark Cuban is now short 20,000 shares of Overstock (fuck this guy btw)
Hey guys, I started doing some crazy research and I came upon this company called Overstock.com, basically its a competitor to Amazon but unnlike its competition it also has been accepting Bitcoin since 2014.
"IN FIRST DAY WITH BITCOIN, OVERSTOCK DOES $126,000 IN SALES" (https://www.wired.com/2014/01/overstock-bitcoin-sales/) at around 500 per bitcoin now they are worth now around 1.5m. It then increased to 300k sales per day in Bitcoin. This guys says he was keeping only 50% (I think he was keeping all of it)
This company stock has doubled in the last months, but their valuation is still way off (It has Amazon potential). Backstory: the CEO Patrick Byrne (comes from an "honorable" family, he has a PHD in Philosophy, 3 time cancer survivor) got fucked by corporations like Goldman Sachs during 2008, (he later sued and won against most of the financial coporation that fucked him). He came out explaining the method of how Wall Street(Goldman Sachs and co) manipulated the market by using a technique called "Naked short selling".
Its worth investigating! (https://www.youtube.com/watch?v=BdBe5_8z53A its an 8min explanation, what he says really puts into perspective how crooked this people are) (Also SEC verified that this does happen and a lot) https://www.sec.gov/investopubs/regsho.htm
Basically what they did is put a straw in the financial system that they can suck to get money whenever they want by fucking over smaller companies. Needless to say the press came out saying he was crazy, that it wasnt true, classical defamation campaign by the way, but to be fair he said that a Sith Lord was orquestrating all this (Now I kind of believe him)
So this guy was really fucking pissed and when he heard about Bitcoin he went balls deep! I researched a bit and Overstock investing company "Medici Ventures" has been developing blockchain applications that are incredibly well developed and serve enterprise needs (this are the companies that big investors and companies will use).
You will have a hard time finding this story on the news since they mostly hate Overstock and describe it as a "obscure ecommerce platform" (https://www.cnbc.com/2017/10/17/traders-bet-on-overstock-over-bitcoins-blockchain-technology.html)
If Bitcoin/Ethereum/cyrpto performs like we hope, this is one of the companies that could make Bitcoin and blockchain go mainstream and also hit back real hard at the financial system. (Patrick Byrne personal vendetta)
What do you guys think?
TL;DR:
Overstock stock is worth looking into and basically Wall Street are treacherous pigs that will stop at nothing to get money from anyone weaker than them.
Also, after reading how Wall Street really fights (hard, dirty, illegal and fast), everyone should keep their REAL money in a hardware wallet!
submitted by odracir9212 to btc [link] [comments]

[uncensored-r/CryptoCurrency] Will there be another 2017-like crypto pump ever gonna happen again? My rant on the future of cry...

The following post by slickguy is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/812fmy
The original post's content was as follows:
Background
I've been getting several messages lately inquiring about my old post from which I borrowed $30k to buy ETH back in May: https://np.reddit.com/ethtradecomments/68oshw/just_borrowed_30k_to_buy_eth_stay_tuned_for_the/
I started typing a long response to someone who asked me whether he thinks there's gonna be another opportunity like ETH in the future (from which I made over 100X returns, buying most between $10 and $100, and cashing out 90% at $1000-$1200)...and I realized I typed so much info that it could be worthwhile to share it with the community.
Before I start my rant though... about the loan I had taken out at the time: don't ever invest in more than you're willing to lose.
Opportunities will always come, in one way or another. Today is crypto, yesterday was flipping houses, before that was penny and internet stocks. But from a crypto standpoint, opportunities in this field are gonna be more rare. Bitcoin, ETH, and other large caps coins are probably done for for a while -- they'll go up in the long run but I don't think we'll see another new parabolic rise of 1000+% gains for a long while. People switched to ICOs after seeing some of the 3-10X gains, but the wild west of unregulated ICOs is starting to lose steam, mostly due to regulatory barriers.
Identifying Fundamental Disruptions
I invested in ETH first at $10 and buying all the way up to $100 (the $30k loan got me ETH at $80 each), and while others were selling for 2x flips, I was able to hold it all the way to $1000+. I think this is important to mention in the context of this post because of the necessity to realize the long-term disruption that lays ahead. At the time, I realized that ETH was about to give altcoins/tokens the ability to be speculated on due to their direct utility association in a tech startup's main business mechanism. I firmly believed that ETH should be worth at nearly as much as, if not at least, BTC in market cap because of this. Prior to ETH, it was just Bitcoins and then all clones/shitcoins. ETH gave rise to ICOs and speculative coins that could be assigned potential business value to it, thereby making crypto markets what it is today. Frankly, the entire crypto market owes ETH, and respectfully BTC of course, for what is today. Note though: I rolled the dice big for ETH, but even my $30k investment at the time was only about a quarter of my savings at the time. So again, don't invest in more than you are willing to lose or sleep soundly at night.
The Future: Increasing Regulation
Anyway, turning to the future. Here's what I think is going to happen. SEC is going shutdown alot of ICOs; they are really cracking down on ICOs claiming to be utilities, even if disguised through airdrops or SAFTs. In fact, just today's WSJ news said SEC issued subpoenas to multiple ICOs and have taken interest in SAFTs for so-called utility tokens. Just like the dot-com bubble, 90%+ of these previous ICOs are gonna tank and fail. We're gonna see a massive correction probably later in 2018, when roadmaps with major expected milestones start missing their deadlines, and a domino effect happens when SEC starts really flexing their muscle and forcing exchanges to go into delisting mode (we already are starting to see this with Bittrex).
But a Hidden Opportunity
So about looking for another crypto pump opportunity.... When the culling happens, the survivors are gonna be as follows. Look for US-based ICOs that have been SEC-compliant from the outset, or at least making a strong effort to do so. Having a legal advisor or team member will be big this year. Don't be afraid of lockups or holding periods if it's for the purpose of being SEC compliant (signs are mentions of Reg CF, Reg D, Reg S, and Reg A+ offerings... you could google these keywords with their company name to see if they have a filing record in SEC's database). See if these ICOs and team leaders had a successful and profitable business in the past, or at least spun out of a profitable company. Also, there's way too much bullshit with partnerships, many which are fake or with useless no/name companies. Next, a lot of these open ecosystem platforms rely on partner companies to attract customers -- but why would companies join when there are no customers, and vice versa. It's all bullshit and often pump and dump shilling. What you want is a closed ecosystem (think Apple iOS) to help consumers navigate the business model. An open ecosystem where customers have to attach their own crypto wallet, blah blah blah, yay decentralization, yeah... well that's all never gonna see mass adoption (think Linux... some hardcore advocates exist, but what layperson actually wants to operate command lines or deep menus all day long and accidentally break their system with one wrong syntax). Look how successful Coinbase has become by simplifying crap. Too much shit is focused on the crypto side and it's like a foreign language to mainstream customers who won't touch it with a ten foot pole. Look for ICOs that are consumer focused rather just have solely an ICO page. It's particularly appealing if they have a self-directing strategy in the form of a tangible product they can sell to generate data or transactions in their ecosystem, which would naturally attract additional customers/companies into their platform.
Examples:
  • https://www.epigencare.com/ico - Selling a 23andMe-like skincare test to generate skincare profiles, then seeing how product ingredients affect the profiles. Then skincare companies can target their products to customer profiles through their recommendation engine, and present them as personalized solutions in the customer's test report.
  • https://holo.host/ico/ - Creating a new blockchain 3.0 that allows you store full websites and databases directly on the blockchain (instead of just transaction data), in order to allow decentralized hosting via peer-to-peer internet. They're selling small server boxes or software so you get paid crypto for cloud hosting (and apps and sites needing hosting pay the hosts).
These companies with revolutionary ideas, who are making an effort to be legally compliant and also have a tangible product, are the ones that are gonna survive the mass culling of alts and ICOs later this year. If we ever get our first ICO unicorn (from revenue, not pumped market cap of their token), then it will bring truly mainstream recognition of the crypto markets that will give the traditional stock markets a serious run for their money. I'm not talking about less than 1% of the $70 trillion stock market value of the world -- I'm talking like double digit levels of the entire global stock market. And I bet you it will happen. This is the sorting-out phase of the future -- a shift from old world Wall Street-type money to Silicon Valley. Crypto allows direct investments into technology startups, and tokenization of the actual business transaction mechanism cuts down all the traditional valuation crap dealing with public relations and whatever meta valuation factors. If the business is making sales, then the token is worth something, and that's all that matters. If the business is losing sales, then the token is worth less. Straightforward.
When All The Puzzle Pieces Fit Together
Two more things to note. First: If ETH successfully pulls off scaling through sharding/raiden and drastically reduces gas fees through proof of stake, then it will be fit for enterprise use. ETH's stress tested blockchain with upgrades will facilitate real world adoption (Most of these ERC20 platforms are currently not fit for real adoption due to high gas fees and low TPS). Otherwise, consider hedging into alternative smart contract-, high volume-, low cost-capable platforms with implementation documentation (e.g., Stellar) to potentially get some good gains. Second: A lot of these current crypto exchanges are not registered ATS's (alternative trading systems) that are permitted to trade securities by the SEC, so they can only trade utilities. But SEC is cracking down on these fake-utilities and are deeming them all securities... that's gonna leave these exchanges in the dust. So we're seeing big companies entering this space, Overstock building tZero, Circle/Goldman Sachs acquiring Polo, Cobinhood, etc. They are prepping for ATS compliance, and when legal tokenized securities become tradeable, they will be traded on these platforms... not hot messes like Binance. And they will be user friendly -- gateways for mainstream to invest directly in the tokenized assets of a company's core business model. It's all culminating to the survival of legit companies, mainstream adoption, and these are your clues. Enjoy trading shitcoins while they last, but don't get caught with your pants down bagholding them.
Rant over.
TL;DR Look for coins based on fundamentals and legal compliance so they will survive the massive culling in late 2018 when roadmaps don't meet milestone deadlines
Edit: Grammar, and Readability
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Subreddit Stats: ethtrader top posts from 2016-12-11 to 2018-03-28 14:09 PDT

Period: 472.46 days
Submissions Comments
Total 995 184897
Rate (per day) 2.11 391.02
Unique Redditors 592 22569
Combined Score 787834 1865594

Top Submitters' Top Submissions

  1. 44976 points, 68 submissions: AutoModerator
    1. [ETH Daily Discussion] - 14/Jun/2017 (2926 points, 8485 comments)
    2. [ETH Daily Discussion] - 15/Jun/2017 (1960 points, 8597 comments)
    3. [ETH Daily Discussion] - 13/Jun/2017 (1764 points, 5212 comments)
    4. [ETH Daily Discussion] - 12/Jun/2017 (1358 points, 12903 comments)
    5. [ETH Daily Discussion] - 24/May/2017 (1345 points, 9454 comments)
    6. [ETH Daily Discussion] - 23/May/2017 (1241 points, 6398 comments)
    7. [ETH Daily Discussion] - 30/May/2017 (1141 points, 9056 comments)
    8. [ETH Daily Discussion] - 25/May/2017 (1019 points, 8164 comments)
    9. [ETH Daily Discussion] - 10/Jun/2017 (1001 points, 7984 comments)
    10. Daily Discussion [Serious] - 17/Jun/2017 (910 points, 2930 comments)
  2. 16379 points, 1 submission: Pracy_
    1. Everytime Bitcoin drops (16379 points, 358 comments)
  3. 11940 points, 4 submissions: Justjoshmygosh
    1. Welcome to ethtrader new people, let me save you some time (7350 points, 369 comments)
    2. This is NOT the end (2076 points, 197 comments)
    3. Welcome BACK to ethtrader (1969 points, 112 comments)
    4. Hello again, ethtrader... looks like I have some work to do (545 points, 10 comments)
  4. 11915 points, 2 submissions: _Mido
    1. Here you go (9778 points, 318 comments)
    2. How I felt this week (2137 points, 232 comments)
  5. 8919 points, 5 submissions: leafac1
    1. Would You Like to See Reddit Accept ETH as a Means to Pay for Gold? (3187 points, 196 comments)
    2. Most Popular Story on CNBC Tech: 'Bitcoin’s main rival Ethereum hits a fresh record high' (2476 points, 181 comments)
    3. Tweeted today: Casper (Proof of Stake) testnet is coming. (2106 points, 232 comments)
    4. Ethereum just processed 0.46% of Visa's total tx per day. And it did so without Ethereum Dapps using scaling solutions. (625 points, 78 comments)
    5. Perspective: It seems many are currently unaware that ETH will have a lower inflation rate than BTC (and BTC-Forks) come Proof of Stake & beyond. (525 points, 136 comments)
  6. 8899 points, 6 submissions: sopun
    1. Stocks VS Crypto (2259 points, 53 comments)
    2. Bitconnect, Davorcoin and other scams continue being advertised on Coinmarketcap. We should take a stand as a community and push out these people who made a career out of scamming innocents (2228 points, 149 comments)
    3. A shitcoin ICO called Prodeum just exitscammed millions of dollars from investors and left them only this message on their ICO website (1543 points, 200 comments)
    4. Trevon James erased 39 of his YouTube videos promoting BitConnect yesterday. Looks like he starts getting worried about the class action lawsuit against him (1364 points, 223 comments)
    5. Tron's TRX whitepaper raises more red flags than a workers parade in Soviet Union (1124 points, 235 comments)
    6. Charlie Lee retweet: "Wow! How absurd! Tron whitepaper is mostly stolen copy & paste!" (381 points, 109 comments)
  7. 8699 points, 7 submissions: econoar
    1. Ethereum is now processing more transactions a day than all other cryptos combined. (4027 points, 476 comments)
    2. Today, Ethereum has processed 50% more txs than BTC. Ethereum currently has 17 pending TX and BTC has 45k. It takes $0.006 to move Ether in less than 20 seconds. (1411 points, 282 comments)
    3. Visa, IBM, Microsoft and USAA have all posted jobs in the past week looking for Ethereum developers (865 points, 47 comments)
    4. Goldman-Backed Startup Circle Launches No-Fee Foreign Payments Service. Built on Ethereum. (852 points, 86 comments)
    5. Etheremon is completely centralized and the owners can withdrawal all the funds from the contract. (665 points, 387 comments)
    6. On average, it's 59x cheaper to send an Ethereum transaction than a Bitcoin transaction. (484 points, 31 comments)
    7. Ethereum dapps expected to launch very soon. (395 points, 131 comments)
  8. 7472 points, 12 submissions: DCinvestor
    1. Personal Finance Rules for Being an Effective Holder (1303 points, 238 comments)
    2. Will Proof of Stake turn ETH into the best Store of Value coin? (1074 points, 142 comments)
    3. What can the earlier days of Bitcoin teach us about holding Ethereum? (626 points, 152 comments)
    4. How to Survive Crypto Investing (in this market, or in any market) (614 points, 121 comments)
    5. The Most Important Crypto Theses for 2018 (and my current feelings on this market) (604 points, 323 comments)
    6. A Re-evaluation of Ethereum as Long Term Investment (versus new market entrants) (593 points, 136 comments)
    7. It's time for investors to pursue quality, and to stop chasing shit (505 points, 89 comments)
    8. Coinbase is trending #1 on the Apple App Store (504 points, 39 comments)
    9. Switching from BTC to ETH (445 points, 219 comments)
    10. Is Ethereum Dead? Ask the Developers, not the Traders (424 points, 120 comments)
  9. 7445 points, 6 submissions: ScienceGuy9489
    1. New price target $1,000 (2996 points, 504 comments)
    2. I heard you guys miss me, looks like we're only going up from here (2102 points, 652 comments)
    3. Technical Analysis, Liftoff Due June 16th (755 points, 1034 comments)
    4. I predicted the last two liftoffs, the next one is by May 24th. (727 points, 534 comments)
    5. I predicted the last 3 liftoffs, this is a situation update (504 points, 460 comments)
    6. I predicted the last 3 lifts offs, the next one is by May 29th (361 points, 470 comments)
  10. 7410 points, 11 submissions: BeerBellyFatAss
    1. Bitfinex now trades all pairs against ETH. It’s time for Binance and the rest of the exchanges to do so as well. (2257 points, 220 comments)
    2. Number of Users on Coinbase Surpasses Number of Brokerage Accounts at Charles Schwab (822 points, 63 comments)
    3. Omise signed an agreement on the development of a national ID utilizing the ETDA and block chains of Thailand government agencies! We will continue to work on a number of projects that utilize block chains! (789 points, 113 comments)
    4. Catalonia Considering Cryptocurrency Post-Independence, Advised By Ethereum Creator (507 points, 74 comments)
    5. Germany’s Largest Bitcoin Trading Platform Will Soon Add Etheruem (499 points, 46 comments)
    6. Olaf Carlson - On Bloomberg Technology (12/01) - Ethereum to Surpass Bitcoin Market Cap by YE 2018 - Great Interview! (483 points, 150 comments)
    7. Casper is Pretty Close, Sharding Number One Priority Says Vitalik Buterin (467 points, 79 comments)
    8. "Ethereum, which I think just touched $500 or is getting close, could be triple where it is as well" - Michael Novogratz (446 points, 106 comments)
    9. Ethereum was a safe haven from yesterday's cryptocurrency sell-off — and not for the first time (416 points, 45 comments)
    10. GOLDMAN: 'It's getting harder for institutional investors to ignore cryptocurrencies' (372 points, 35 comments)
  11. 7378 points, 5 submissions: EthTrader_Mod
    1. [ETH Daily Discussion] - 22/May/2017 (4029 points, 10547 comments)
    2. Daily Discussion [Serious] - 16/Jun/2017 (1359 points, 4550 comments)
    3. [ETH Daily Discussion] - 28/May/2017 (684 points, 3361 comments)
    4. [ETH Daily Discussion] - 04/Jun/2017 (654 points, 3894 comments)
    5. [ETH Daily Discussion] - 29/May/2017 (652 points, 4675 comments)
  12. 7075 points, 13 submissions: Mr_Yukon_C
    1. This is what leadership looks like -- I present to you, CFTC Chairman Giancarlo (831 points, 45 comments)
    2. Millennials are afraid stocks are too risky, so they're investing in crypto (787 points, 240 comments)
    3. OmiseGo Becomes the First Ethereum Unicorn With a Market Cap of $1 Billion (760 points, 157 comments)
    4. AMERICANS: Kill bill 1241 • ethereum (697 points, 66 comments)
    5. Microsoft – Decentralized Digital Identities and Blockchain – The Future as We See It. [Building on Ethereum] (643 points, 87 comments)
    6. Scaling Ethereum to hundreds to thousands of transactions per second - TODAY! (513 points, 47 comments)
    7. Brian Armstrong (Coinbase CEO): "Bitcoin still has a black mark against it if you look at what big banks or more traditional folks in law enforcement think. Ethereum has a blank slate, and that is a chance to reach a mainstream audience." (471 points, 121 comments)
    8. Joseph Lubin: 5.6bil requests a day for @infura_io, >280k downloads for @trufflesuite, and a jaw-dropping 1 million installs for @metamask_io (455 points, 83 comments)
    9. Alpha Casper FFG Testnet Instructions - HUGE! (420 points, 54 comments)
    10. The 0x team donated ~$12,000 to Etherscan and ~$22,000 to MyEtherWallet (399 points, 28 comments)
  13. 6809 points, 8 submissions: thepipebomb
    1. CNBC: Why buy Ethereum? (1519 points, 146 comments)
    2. CNBC - "I love Ethereum, I think Ethereum is the one to own here." (1240 points, 158 comments)
    3. CNBC: This is an incredible buying opportunity for Ethereum (989 points, 181 comments)
    4. Please boycott Vinny Lingham's Civic ICO (896 points, 200 comments)
    5. Pantera Capital Quantitative Researcher: By 2020 Ethereum's market cap will be 10x higher than Bitcoin's (745 points, 155 comments)
    6. When is $10,000 per ETH realistic? (504 points, 491 comments)
    7. Brian Kelly of CNBC on investing in Ethereum (496 points, 131 comments)
    8. Kevin O'Leary: NYC hotel wants to use a $400 million cryptocoin offering to sell ownership like a stock (420 points, 135 comments)
  14. 6621 points, 11 submissions: jtnichol
    1. Joseph Lubin on Twitter: "#Bitcoin = A single app. #Ethereum = An entire app store. Thanks for having me on @BloombergTV, always a pleasure. https://t.co/LXKX8cF8BR" (1209 points, 89 comments)
    2. Microsoft helps launch world’s first blockchain-based investment product: settled on the public Ethereum chain. (923 points, 84 comments)
    3. This room feels like Q4 2016 all over again (768 points, 264 comments)
    4. Massive heap of rhetoric. But it needs to be said. (544 points, 239 comments)
    5. Friday Donut Day. (535 points, 53 comments)
    6. We're rocketing up in subscribers. Wow! (+1,160 subscribers today; 164% trend score) • TrendingReddits (519 points, 58 comments)
    7. Vitalik Buterin on Twitter: Plasma implementations are already happening (490 points, 77 comments)
    8. Unlisted Video Message just for Ethtrader - Thanks for helping someone on Reddit yesterday struggling with life. (475 points, 80 comments)
    9. For all the drama lately I've made you some comfort food. I love you Ethtrader. Whale sized BLT's with a quart of Bloody Mary. (390 points, 87 comments)
    10. Vitalik Buterin on Twitter: "Scalability research and development subsidy programs: https://t.co/PwbkdUHbZS" (387 points, 40 comments)
  15. 6224 points, 7 submissions: Butta_TRiBot
    1. Vitalik Buterin: If all that we accomplish is lambo memes and immature puns about "sharting", then I WILL leave. (2170 points, 434 comments)
    2. Vitalik Buterin: In my opinion, the current sharding spec as described is already good enough to get us to thousands of transactions per second (1549 points, 191 comments)
    3. Inflation rate will go down by ~90% with Casper and Sharding (3 ETH block reward -> 0.22ETH) (694 points, 217 comments)
    4. "Casper Testnet up right now and Sharding will come sooner than you think" - Karl Floersch [41:02] (507 points, 45 comments)
    5. Vitalik on Wechat: We have started developing a test version of Ethereum with sharding using python (447 points, 79 comments)
    6. The reason I invested in Ethereum - motivated developers who even spend their free time explaining the tech (433 points, 79 comments)
    7. Congrats to @naterush1997 and @dannyryan for releasing v0.2 of the cbc Casper prototypes, last night! (424 points, 43 comments)
  16. 6206 points, 1 submission: PaulieVideos
    1. Dips are just happy little accidents (6206 points, 214 comments)
  17. 6106 points, 2 submissions: moneyfink
    1. It's one of the biggest moments of your life... what to wear? (5607 points, 487 comments)
    2. Reminder: HODL and don't be like this guy (499 points, 84 comments)
  18. 5355 points, 4 submissions: shouldbdan
    1. Every day I check the price when I wake up (3047 points, 105 comments)
    2. Me reading the daily during downtrends (810 points, 78 comments)
    3. A thank you, to everyone working countless hours to solve the scaling problem (758 points, 112 comments)
    4. HODLing Bitcoin vs HODLing Ether (740 points, 70 comments)
  19. 5075 points, 4 submissions: antiprosynthesis
    1. ETH price has just entered the bottom of a new channel. Next level of resistance well over $2,000. (2055 points, 493 comments)
    2. The Ethereum blockchain now processes about as much USD value as all other blockchains combined, including Bitcoin. (1296 points, 135 comments)
    3. ETH price in one year: between $700 and $14,000, averaging around $3,500. (1056 points, 543 comments)
    4. Legally Binding Smart Contracts? 9 Law Firms Join Enterprise Ethereum Alliance (668 points, 122 comments)
  20. 4617 points, 1 submission: shadow_op
    1. I'm a longterm hodler, but even i hate this sub sometimes. (4617 points, 292 comments)
  21. 4602 points, 6 submissions: brantlymillegan
    1. Seinfeld gives trading advice in a bear market (1142 points, 94 comments)
    2. Let's be honest, this is most of us here on /ethtrader... (1106 points, 63 comments)
    3. The Flippening is back on: 51.9% ETH/BTC mk ratio and climbing! (1024 points, 141 comments)
    4. The most popular trade on ShapeShift right now is BCH to ETH (519 points, 52 comments)
    5. Jerry & George give /ethtrader advice to traditional traders (434 points, 58 comments)
    6. The most popular trade on ShapeShift right now is BTC -> ETH (377 points, 43 comments)
  22. 4558 points, 5 submissions: CallMeGWei
    1. Ethereum's µRaiden - Bitcoin is Falling Behind (1206 points, 191 comments)
    2. Crypto: The Wrong Bubble? (1162 points, 484 comments)
    3. ICOs: Avoid The Lemons (849 points, 69 comments)
    4. Vitalik Buterin: To be clear, the operative word here is "all". No, I won't stop or slow working on crypto just because price memes and stupid jokes exist... (751 points, 88 comments)
    5. CryptoKitties slows Ethereum down... temporarily... (590 points, 75 comments)
  23. 4395 points, 5 submissions: jonesyjonesy
    1. Upvote if you think ethtrader should create a community rating service for ICOs (1931 points, 173 comments)
    2. Only a matter of time before people wake up and realize the gravity of Circle acquisition. Leaked photo reveals Poloniex is now 1) ATS certified and 2) the first ever US regulated crypto exchange. Amazing milestone for crypto's quest towards regulatory acceptance (819 points, 164 comments)
    3. Hey guess what? Gox caused the 2018 crash. Here's how. (693 points, 240 comments)
    4. EthTrader's reaction when they see ScienceGuy is back posting liftoff predictions (529 points, 48 comments)
    5. To anyone who is doubting EOS is offloading their ETH for fiat (423 points, 297 comments)
  24. 4321 points, 3 submissions: c0mm0ns3ns3
    1. UPVOTE if you're sick of KRAKEN's performance! (3011 points, 369 comments)
    2. How about we get Vitalik NOT on Joe Rogan etc. and leave him alone (762 points, 74 comments)
    3. Dear Exchanges, it's time to unpair everything from Bitcoin! (548 points, 138 comments)
  25. 4102 points, 1 submission: DAXEEY
    1. Literally.. (4102 points, 164 comments)
  26. 4027 points, 1 submission: saintmax
    1. Ethereum is UP since last month! Can we get this post to all to show everyone the tides are turning quickly (4027 points, 194 comments)
  27. 3903 points, 3 submissions: PhiStr90
    1. Enterprise Ethereum Alliance Becomes World’s Largest Open-source Blockchain Initiative (2690 points, 312 comments)
    2. Hewlett Packard Enterprise and 47 Organizations Join 200-Member Strong Enterprise Ethereum Alliance (846 points, 113 comments)
    3. Ethereum is now for the first time the blockchain with highest mining incentive or simply put 'the most secured' (367 points, 52 comments)
  28. 3811 points, 3 submissions: onenessup
    1. "If you are new to #blockchain (s) and you wonder which of the top 100 from coinmarketcap will win - you should realize that 43 of those 'coins' are ON the Ethereum blockchain." (2557 points, 167 comments)
    2. Casper (Proof of Stake) Code was Published Today by Vlad Zamfir (899 points, 249 comments)
    3. Germany's Largest Crypto Exchange To Begin ETH/EUR Trading (355 points, 36 comments)
  29. 3772 points, 3 submissions: Jimmyl101
    1. TWICE IN THE SAME DAY??? (2179 points, 151 comments)
    2. HE'S BACK (1102 points, 71 comments)
    3. Please consider posting more memes. (491 points, 68 comments)
  30. 3743 points, 3 submissions: Hiphopsince1988
    1. Ethereum & the Hodlors that love them (2420 points, 282 comments)
    2. Metcalfs Law has 97% Correlation to ETHUSD Since 2015. Puts ETH value at $8,000 (960 points, 213 comments)
    3. Tweet: Bank of America Demo using its Ethereum app at Microsoft (363 points, 48 comments)
  31. 3677 points, 6 submissions: barthib
    1. Updated fact list: why Ethereum will be the most successful blockchain network (1028 points, 229 comments)
    2. The Ethereum Foundation just released an impressive list of 2017 achievements and work to flourish in 2018 (802 points, 30 comments)
    3. Overstock lets customers pay with more than 40 cryptocurrencies, including ETH (672 points, 111 comments)
    4. At the end of the year, the first official European investment fund in cryptocurrencies launches (ETH, BTC, LTC, ...) (423 points, 49 comments)
    5. Today is important in the History of cryptocurrencies. Miners earn now more money by securing Ethereum than Bitcoin. (378 points, 42 comments)
    6. Chairman of Fair Trade Commission of South Korea: Whether cryptocurrency investment is excessive speculation or not, the risk is on the investor, and thus the government should not outright ban economic activity because it is risky. That's for the individual investors to decide. (374 points, 20 comments)
  32. 3600 points, 1 submission: GHOSThit
    1. It happened! $1234.56! (3600 points, 147 comments)

Top Commenters

  1. csasker (9957 points, 970 comments)
  2. OperationNine (9563 points, 506 comments)
  3. cyoreligion (9218 points, 516 comments)
  4. thepipebomb (9182 points, 494 comments)
  5. jtnichol (8874 points, 741 comments)
  6. econoar (8732 points, 669 comments)
  7. Nooku (8475 points, 442 comments)
  8. DCinvestor (8394 points, 425 comments)
  9. cutsnek (7614 points, 521 comments)
  10. antiprosynthesis (7103 points, 843 comments)
  11. Mr_Yukon_C (5748 points, 473 comments)
  12. dillllllzzzzz (5707 points, 426 comments)
  13. oldskool47 (5688 points, 414 comments)
  14. IRefuseToGiveAName (5461 points, 427 comments)
  15. loveYouEth (5369 points, 288 comments)
  16. subdep (5231 points, 326 comments)
  17. laughncow (5071 points, 372 comments)
  18. ruvalm (4955 points, 290 comments)
  19. ethacct (4937 points, 340 comments)
  20. skYY7 (4929 points, 297 comments)
  21. Libertymark (4810 points, 954 comments)
  22. shouldbdan (4809 points, 291 comments)
  23. blog_ofsite (4609 points, 408 comments)
  24. OM3N1R (4549 points, 314 comments)
  25. Enigma735 (4504 points, 478 comments)
  26. pinastri (4457 points, 305 comments)
  27. myownman (4334 points, 402 comments)
  28. WeLiveInaBubble (4201 points, 342 comments)
  29. aItalianStallion (4162 points, 307 comments)
  30. jezzaccc (4116 points, 310 comments)
  31. ninethirtyone (4075 points, 346 comments)
  32. leafac1 (3826 points, 206 comments)

Top Submissions

  1. Everytime Bitcoin drops by Pracy_ (16379 points, 358 comments)
  2. Here you go by _Mido (9778 points, 318 comments)
  3. Welcome to ethtrader new people, let me save you some time by Justjoshmygosh (7350 points, 369 comments)
  4. Dips are just happy little accidents by PaulieVideos (6206 points, 214 comments)
  5. It's one of the biggest moments of your life... what to wear? by moneyfink (5607 points, 487 comments)
  6. I'm a longterm hodler, but even i hate this sub sometimes. by shadow_op (4617 points, 292 comments)
  7. Literally.. by DAXEEY (4102 points, 164 comments)
  8. [ETH Daily Discussion] - 22/May/2017 by EthTrader_Mod (4029 points, 10547 comments)
  9. Ethereum is now processing more transactions a day than all other cryptos combined. by econoar (4027 points, 476 comments)
  10. Ethereum is UP since last month! Can we get this post to all to show everyone the tides are turning quickly by saintmax (4027 points, 194 comments)

Top Comments

  1. 1709 points: Blactory's comment in Everytime Bitcoin drops
  2. 1351 points: deleted's comment in It's one of the biggest moments of your life... what to wear?
  3. 1298 points: dwy0818's comment in Been in a coma for 23 days, about to check my portfolio
  4. 1170 points: Butterfly_Lags's comment in New price target $1,000
  5. 1110 points: mikewirkijowski's comment in Here you go
  6. 1053 points: phigo50's comment in My wife just talked me out of selling $10,000 eth
  7. 953 points: PcChip's comment in Vitalik Buterin: If all that we accomplish is lambo memes and immature puns about "sharting", then I WILL leave.
  8. 869 points: deleted's comment in Ethereum is UP since last month! Can we get this post to all to show everyone the tides are turning quickly
  9. 832 points: BroKing's comment in It's one of the biggest moments of your life... what to wear?
  10. 829 points: khalo_'s comment in Welcome to ethtrader new people, let me save you some time
Generated with BBoe's Subreddit Stats (Donate)
submitted by subreddit_stats to subreddit_stats [link] [comments]

04-06 20:13 - 'George Soros set to trade cryptocurrencies - Bloomberg' (self.Bitcoin) by /u/BitcoinAlways removed from /r/Bitcoin within 204-214min

'''
[link]1
(Reuters) - George Soros's $26 billion hedge fund is planning to trade cryptocurrencies, Bloomberg reported on Friday, months after the billionaire investor called the virtual currency a bubble.
Adam Fisher, who oversees macro investing at the New York-based Soros Fund Management, got internal approval to trade digital assets in the last few months, though was yet to make a wager, the report [link]2 said, citing people familiar with the matter.
A Soros representative declined to comment.
The financial world has been divided about betting on bitcoin , a digital token.
Billionaire Warren Buffett and JPMorgan's Jamie Dimon have said they will not invest in cryptocurrencies, while Wall Street banks Morgan Stanley and Goldman Sachs have been open to clearing bitcoin futures.
Last year, Soros's hedge fund took an 8.99 percent stake in Overstock.com Inc to become the third-largest shareholder in the online retailer. The shares of the company surged when its unit held an initial coin offering.
'''
George Soros set to trade cryptocurrencies - Bloomberg
Go1dfish undelete link
unreddit undelete link
Author: BitcoinAlways
1: https://uk.finance.yahoo.com/news/george-soros-set-trade-cryptocurrencies-bloomberg-143403707--sector.html 2: https://www.bloomberg.com/news/articles/2018-04-06/george-soros-prepares-to-trade-cryptocurrenceis
submitted by removalbot to removalbot [link] [comments]

As Some Firms Defy SEC, Overstock Is Set to Cash in on "Wild West" ICOs

The Securities and Exchange Commission roiled the blockchain industry last week when it announced that so-called Initial Coin Offerings are considered securities offerings. While some firms are embracing a strategy of open defiance, vowing to push ahead with their planned ICOs without registering them, at least one former innovator in the blockchain arena sees the new rulings as a boon for its nascent cryptoasset trading platform, according to CoinDesk.
Overstock.com, one of the first major US companies to embrace blockchain technology, believes the regulations could drive business to its cryptoasset trading platform known as T-0. Overstock cemented its status as a blockchain innovator back in December 2015 when it raised $2 million by offering a small tranche of Overstock corporate bonds on its platform. The offering, which received approval from regulators, created the first blockchain-based financial securities to trade in the US.
Since then, the company has been quietly building out its platform while waiting for US regulators to create a framework for legally offering and trading blockchain securities. And now the day it has long been waiting for has finally arrived, according to CoinDesk. “…earlier this week, tØ got the news it had been waiting for when the SEC finally published the results of a landmark report in which it clearly laid out its rationale for why some tokens are still securities. Moreover, the report clarified that, once a token issued in an ICO has been deemed a security, only national securities exchanges like Nasdaq and some alternative trading systems (ATSs) are permitted to be involved in the trading.” Overstock.com started building its T-0 blockchain-based trading platform in the spring of 2015, when it purchased a stake in an alternative trading system. Now, the company believes its system is ready for the mass market, and hopes to receive permission from the SEC to traffic in ICOs in the coming months. “Moreover, the report clarified that, once a token issued in an ICO has been deemed a security, only national securities exchanges like Nasdaq and some alternative trading systems (ATSs) are permitted to be involved in the trading.” According to CoinDesk, Overstock CEO Patrick Byrne has long hoped to build a platform that would allow trading in stocks and bonds backed by the blockchain. The platform’s name, T-0, is derived from Byrne’s claim that blockchain-backed transactions are inherently superior to the current system because, in theory, these trades will settle instantly, instead of taking up to three days to clear. However, many competitors, including some of the world’s largest financial institutions, are quickly catching. Earlier this month, Goldman Sachs was awarded a patent for its own crypto trading system called “SETLCoin.” Those who are only now becoming acquainted with Byrne’s story might wonder: What inspired a guy who built a billion-dollar business selling furniture and other household goods to try and revolutionize how financial securities are traded? Byrne was initially inspired to try and disrupt the world of high finance after Overstock was nearly destroyed by “naked” short sellers, or speculators who sell a company’s shares short without first procuring the securities. The incident inspired Byrne to use the blockchain to cut out everyone who stood in the way of buyers and sellers, as CoinDesk explains. Still, the question of whether it’s legal to trade blockchain-based stocks and bonds remains murky. However, there’s been at least one important breakthrough recently. Last month, the Delaware legislature passed a landmark amendment that opened the door to blockchain-backed stock trading on a massive scale – a decision that could significantly impact Overstock’s business. “One possible explanation for the relatively few compliant blockchain capital raises is uncertainty about the legality of recording stock ownership on a distributed ledger, according to Andrea Tinianow, founder and director of the state-run Delaware Blockchain Initiative. Using technology that tØ's parent company invested in last week, made by New York-based Symbiont, Delaware has just signed into law a series of amendments that Tinianow has said will remove much of that uncertainly for firms incorporated in her state. "We've got the regulatory framework for blockchain shares," said Tinianow. "Now the SEC is coming in with federal guidance and it’s a natural fit." In another major regulatory accomplishment, the Commodity Futures Trading Commission recently approved the creation of the first clearinghouse for cryptocurrency options, a decision that could entice sophisticated investors like hedge funds and CTAs to increase their exposure to bitcoin, as we reported earlier this month. “US regulators aren’t yet comfortable with bitcoin ETFs (although a quad-levered S&P ETF is just fine for mom and pop), but apparently options and swaps are another story. This week, the CFTC took a bold step forward in terms of granting institutional investors access to the bitcoin market, approving the creation of the first SEF or Swap Execution Facility. Previously, traders who wished to place bets in bitcoin derivatives markets were forced to operate in markets that were strictly OTC. But now the agency has issued a registration order to LedgerX, granting it status with the CFTC as a Swap Execution Facility, in the process approving bitcoin options trading.” While Overstock has a long history of working with regulators, some companies are effectively choosing to rebel against the SEC’s ruling that all ICOs marketed in the US must be registered, according to Reuters. “Technology companies looking to raise money by issuing digital coins are moving forward with their plans despite a U.S. regulator's decision that their offerings may be subject to tough securities laws. On Tuesday, the SEC decided that tokens issued through the ICOs can be considered securities, meaning they would fall under laws that require disclosures and are subject to regulatory scrutiny to protect investors, unless a "valid exemption" applies.
Some industry participants and analysts had thought such a decision would have a chilling effect on the ICO market. But 20 new ICOs were announced since the SEC's decision, with more than 120 scheduled to launch this year, according to ICO tracker tokendata.io.
Representatives of Rivetz and ICOBox, which plan to launch tokens over the next few weeks, told Reuters they are pushing through with their offerings.” According to Reuters, ICOs have raised more than $1 billion in capital this year as companies launched more than 900 new coins.
"We were kind of annoyed when these ICOs started taking off. They weren't getting approval, it was the Wild West. We thought long and hard about doing our own ICO ... But we held off, going down the regulatory road," T-0 President Joseph Cammarata told CoinDesk.
ICOs are similar in principal to stock offerings in that investors bid up the price of tokens associated with companies they believe will grow profits. However, the paucity of information about many of these companies – some of which have been unmitigated frauds that essentially took investors’ money and ran - makes valuing them nearly impossible.
Hackers have plagued the cryptocurrency investment community since its early days, so it’s little surprise that they’re already started looting ICOs – a security problem that could potentially drive more customers to OverStock’s platform if it can provide enhanced security. As we reported earlier this month, hackers stole $7 million in investors’ funds from CoinDash, a blockchain startup focusing on "cryptocurrency social trading and portfolio management platforms.” Bloomberg notes that hackers have stolen more than $40 million from ICOs.
submitted by moefarms to icocrypto [link] [comments]

Why the feds should sell their DPR bitcoin to institutional investors

After nearing the $1000 threshold once again, the price of bitcoin corrected yesterday and now trades around $815. But with the spate of recent positive news re merchant adoption (Overstock, Zynga, maybe Netflix), institutional interest (Fortress / Pantera), and regulatory wins (India, US - see Tid Bits), it’s hard not to like Bitcoin in 2014.
There is only one piece of news that seems to be applying downward pressure on Bitcoin prices. And I believe that news is being wildly misinterpreted. Yesterday, TechCrunch broke a story on the arrest of another one of the Silk Road moderators in Ireland, but buried the lead:
*In related news, the millions of dollars in bitcoin seized by the FBI from Ross Ulbricht and the first Silk Road, currently stored in a set of online wallets, appears to be on the move. A source in the U.S. Justice Department said that “authorities” have access to the Ulbricht’s bitcoin cache and may be selling it off for less volatile currencies in the next few weeks. Ulbright has given the U.S. government the private keys to the bitcoins.
“The reason for selling is that the Government has lost faith in the value of bitcoin and does not want to deal with the volatility of the currency,” the source said.*
The prospect of a government firesale spooked many people within the Bitcoin community, and rightly so. Yet while a rapid wholesale of the seized Silk Road assets would overwhelm the market and send the price of bitcoin crashing, it’s hard to imagine the government acting so foolishly. Say what you want about our dear leaders, but you can bet your ass that they will be careful when cashing in $115 million worth of found money (market rate for the ~144,000 seized bitcoins). They have two much better options. The first obvious solution is to wind down the position gradually…maybe 1000 BTC per day, and deal with the ensuing near-term volatility. Within less than six months, they could take their gains without breaking the market.
There is also a second, better option that has been neglected: if the federal government has indeed lost faith in the value of bitcoin (which is an insanely ironic claim given QE 1-infinity) and desires a quick disposal of its assets, it might do well to consider an institutional sale. If 2014 proves to be the year of the institutional investor in Bitcoin, the feds are a big seller in a sellers market. There could already be plenty of interested parties with the liquidity to make such a large scale asset purchase. Dan Primack at Fortune broke news before New Year’s about the $150 million bitcoin-related fund that Fortress Investment Group is forming with Pantera capital. Is it really that unlikely that a trading desk at Goldman Sachs, JPMorgan, BofAML, Citi, Morgan Stanley, etc. buys a similar stake? If that is a possibility, then Wall Street is in the complementary “buy” position to the feds’ ”sell” position.
Moreover, you have have to believe that in the event of an auction like this, the feds would be tipping their hand when it comes to their anticipated regulatory stance on Bitcoin. ”It’s a legal commodity, Wall Street…fire away!” The enormity of a federal asset sale to institutional investors cannot be understated from a legislative perspective, either. If Wall Street starts making money within the Bitcoin ecosystem, they could call off the lobbying dogs that would otherwise work to impede Bitcoin’s progress within the existing regulatory framework.
submitted by twobitidiot to Bitcoin [link] [comments]

Overstock Begins Trading Its Stock Via the Bitcoin Blockchain (wired)

This is an automatic summary, original reduced by 77%.
Online retailer Overstock.com has become the first publicly traded company to issue stock over the internet, distributing more than 126,000 company shares via technology based on the bitcoin blockchain.
The online retailer and its free-thinking CEO, Patrick Byrne, view the blockchain as a way of significantly streamlining not only stock exchanges like the NASDAQ, but all sorts of other capital markets.
To satisfy regulators, the company drove the blockchain shares through a broker and various other middleman that typically accompany a stock offering-yet another sign that this young technology is still a long way from overhauling Wall Street.
Many others have joined a blockchain-focused consortium called R3. The company behind the NASDAQ has explored blockchain technology as a way of tracking the exchange of shares in private companies.
The momentum isn't all in the same direction: Goldman Sachs and three other big-name players recently pulled out of R3. The move towards the blockchain has slowed after an initial frenzy, which was driven largely by a fear of "Disruption," says Rick Stinchfield, head of technology at Finadium, the financial consulting firm that closely follows the progress of blockchain technology on Wall Street.
Today, the company actually moved the stock into investor accounts, including 126,565 shares traveling via tØ's blockchain technology.
Summary Source | FAQ | Theory | Feedback | Top five keywords: blockchain#1 stock#2 technology#3 market#4 company#5
Post found in /Bitcoin, /btc, /technology, /Futurology, /news, /BTCNews and /BitcoinAll.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

PWC accepts payment in BitCoin via WSJ

By Steven Russolillo Nov. 30, 2017 5:16 a.m. ET Accounting firm PricewaterhouseCoopers said it accepted a payment in bitcoin for its advisory services, its first in a virtual currency.
The announcement Thursday came at a hot time for cryptocurrencies, as bitcoin this week blasted through $11,000 for the first time. The rally has prompted questions over whether the currency is a true store of value that can be widely used in transactions, or merely a day trader’s plaything.
PwC in Hong Kong said that it accepted the payment because it is increasingly working with startups in the city involved in cryptocurrencies and blockchain, the open-ledger technology that processes bitcoin transactions by logging them on a public record. The firm also noted its advisory work in areas such as initial coin offerings, cryptos exchanges and crypto funds.
Investment manias throughout the centuries have ranged from tulips to tech stocks to housing; is bitcoin different? Image/Video: Daniel Epstein
“This decision helps illustrate how we are embracing new technology and incorporating innovative business models across our full range of services,” Raymund Chao, chairman of PwC Asia-Pacific, said. “It is also an indication that bitcoin and other established cryptocurrencies have now developed into more broadly accepted forms of settlement.”
PwC joins a small but growing list of established companies that accept digital currencies for payments, including software giant Microsoft Corp., online retailer Overstock.com Inc. and satellite-television operator Dish Network Corp.
But it appears to be the first of the Big Four accounting firms to embrace virtual currencies. Representatives from Deloitte Touche Tohmatsu, Ernst & Young and KPMG weren’t immediately available for comment.
Bitcoin recently traded at $10,248. It has surged more than 950% this year, turning from a curiosity for techies to a hot topic among mainstream investors. But over the years it has proved incredibly volatile, declining more than 50% eight times since 2011.
Other financial Institutions starting to warm to virtual currencies include Goldman Sachs Group Inc., which is weighing a trading operation dedicated to them, and exchange operators CME Group Inc. and CBOE Global Markets Inc., which plan to launch bitcoin futures contracts. Nasdaq Inc. also plans to launch bitcoin futures in the first half of 2018.
A bitcoin futures market would allow investors to hedge their exposure to the sharp price moves.
Write to Steven Russolillo at [email protected]
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06-20 18:02 - 'Move Over, Bitcoin. Ether Is the Digital Currency of the Moment.' (self.Bitcoin) by /u/Adnankhattak removed from /r/Bitcoin within 0-4min

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A virtual currency called Ether has been growing alongside Bitcoin in the last year to $35 billion, compared with Bitcoin’s $43 billion.
Source: Coinmarketcap.com | By The New York Times
The price of Bitcoin has hit record highs in recent months, more than doubling in price since the start of the year. Despite these gains, Bitcoin is on the verge of losing its position as the dominant virtual currency.
The value of Ether, the digital money that lives on an upstart network known as Ethereum, has risen an eye-popping 4,500 percent since the beginning of the year.
With the recent price increases, the outstanding units of the Ether currency were worth around $34 billion as of Monday — or 82 percent as much as all the Bitcoin in existence. At the beginning of the year, Ether was only about 5 percent as valuable as Bitcoin.
The sudden rise of Ethereum highlights how volatile the bewildering world of virtual currency remains, where lines of computer code can be spun into billions of dollars in a matter of months.
Bitcoin, the breakout digital currency, is also hitting new highs — one Bitcoin was worth $2,600 on Monday. But the Bitcoin community has struggled with technical issues and bitter internal divisions among its biggest supporters. It has also been tainted by its association with online drug sales and hackers demanding ransom.
Against this backdrop, Ether has been gaining steam. The two-year old system has picked up backing from both tech geeks and big corporate names like JPMorgan Chase and Microsoft, which are excited about Ethereum’s goal of providing not only a digital currency but also a new type of global computing network, which generally requires Ether to use.
In a recent survey of 1,100 virtual currency users, 94 percent were positive about the state of Ethereum, while only 49 percent were positive about Bitcoin, the industry publication CoinDesk said this month.
If recent trends continue, the value of Ethereum’s virtual currency could race past Bitcoin’s in the coming weeks. Virtual currency fanatics are monitoring the value of each and waiting for the two currencies to switch place, a moment that has been called “the flippening.”
“The momentum has shifted to Ethereum — there is no doubt about that,” said William Mougayar, the founder of Virtual Capital Ventures, which invests in a variety of virtual currencies and start-ups. “There is almost nothing you can do with Bitcoin that you can’t do with Ethereum.”
Even though most of the people buying Ether and Bitcoin are individual investors, the gains that both have experienced have taken what was until very recently a quirky fringe experiment into the realm of big money. The combined value of all Ether and Bitcoin is now worth more than the market value of PayPal and is approaching the size of Goldman Sachs.
Investors buying Ether are placing a bet that people will want to use the Ethereum network’s computing capabilities and will need the currency to do so. But that is far from a sure thing. And real-world use of the network is still scant.
Bitcoin, on the other hand, has made inroads into mainstream commerce, with companies like Overstock.com and Expedia accepting Bitcoin for purchases, along with the black-market operators who use the currency.
The fact that there are fewer real-world uses for Ethereum has many market experts expecting a crash similar to the ones that have followed previous run-ups in the price of Bitcoin and other virtual currencies. Even during recent pullbacks, though, the value of Ether has generally continued to gain on Bitcoin in relative terms.
Ethereum was launched in the middle of 2015 by a 21-year-old college dropout, Vitalik Buterin, who was born in Russia and raised in Canada. He now lists his residence, jokingly, as Cathay Pacific Airlines because of his travel schedule.
The Ether he holds has made him a millionaire many times over, but he has generally avoided commenting on the price increase in Ether.
Mr. Buterin was inspired by Bitcoin, and the software he built shares some of the same basic qualities. Both are hosted and maintained by the computers of volunteers around the world, who are rewarded for their participation with the new digital tokens that are released onto the network each day.
Because the virtual currencies are tracked and maintained by a network of computers, no government or company is in charge. The prices of both Bitcoin and Ether are established on private exchanges, where people can sell the tokens they own at the going market price.
But Ethereum was designed to do much more than just serve as a digital money. The network of computers hooked into Ethereum can be harnessed to do computational work, essentially making it possible to run computer programs on the network, or what are referred to as decentralized applications, or Dapps. This has led to an enormous community of programmers working on the software.
One of the first applications to take off was a user-led venture capital fund of sorts, known as the Decentralized Autonomous Organization. After raising over $150 million last summer, the project crashed and burned, and appeared ready to take Ethereum with it.
But the way that Mr. Buterin and other developers dealt with the problems, returning the hacked Ether to users, won him the respect of many in the corporate world.
“It was good to see that there is governance on Ethereum and that they can fix issues in a timely manner if they have to,” said Eric Piscini, who leads the team looking into virtual currency technology at the consulting firm Deloitte.
Many applications being built on Ethereum are also raising money using the Ether currency, in what are known as initial coin offerings, a play on initial public offerings.
Start-ups that have followed this path have generally collected Ether from investors and exchanged them for units of their own specialized virtual currency, leaving the entrepreneurs with the Ether to convert into dollars and spend on operational expenses.
These coin offerings, which have proliferated in recent months, have created a surge of demand for the Ether currency. Just last week, investors sent $150 million worth of Ether to a start-up, Bancor, that wants to make it easier to launch virtual currencies. If projects like Bancor stumble, Ether could as well.
Several big companies have also been building programs on top of Ethereum, including the mining company BHP Billiton, which has built a trial program to track its raw materials, and JPMorgan, which is working on a system to monitor trading.
Over the last few months, over 100 companies have joined the nonprofit Enterprise Ethereum Alliance, including global names like Toyota, Merck and Samsung, to build tools that will make Ethereum useful in corporate settings.
Many of the companies using Ethereum are building their own private versions of the software, which won’t make use of the Ether currency. Speculators are betting that these companies will eventually plug their software into the broader Ethereum network.
There is, though, also the possibility that none of these big trials come to fruition, and the current excitement fizzles out, as has happened many times in the past with Bitcoin after big price surges.
“I hope this is the year where we start to close the gap between the speculative value and the actual value,” Mr. Mougayar said. “There is a lot at stake right now.”
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Move Over, Bitcoin. Ether Is the Digital Currency of the Moment.
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Author: Adnankhattak
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News that Square is dabbling in bitcoin sparked a frenzy that lifted the company's stock by 24% in the span of 10 calendar days. The bitcoin pop proved fleeting for Square though. Bitcoin prices have been on fire in recent weeks, and Overstock.com Inc (NASDAQ: OSTK) has been along for the ride. At 9:01 a.m., a trader bought 1,000 call options with a $12.50 strike price ... In 2015, Coinbase, the bitcoin and ether exchange, is reported to have filed for nine patents, sparking a discussion that the company was attempting to create a monopoly over bitcoin services. Whether or not Goldman Sachs ends up using the patents remains to be seen as the USPTO could essentially reject the applications from the company. Bitcoin is one of the most popular cryptocurrencies out there, and it continues growing each year. The digital currency world has become popular for online transactions and enhanced security. However, some remain skeptical. Goldman Sachs recently held a briefing with investors where leaders discussed the crypto world with clients. The results, though, were not what crypto-enthusiasts were ... News; Goldman Sachs Criticizes Bitcoin, Winklevoss Twins Hit Back; Goldman Sachs Criticizes Bitcoin, Winklevoss Twins Hit Back The bank pointed out the involvement of cryptos in Ponzi schemes and dark markets. Arnab Shome News (CryptoCurrency ) Thursday, 28/05/2020 12:17 GMT+2 2020-05-28T10:17:34+00:00 2020-05-29T16:22:05+00:00. Photo: Reuters. Share this article. Finance Magnates ...

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Goldmann Sachs CEO is Open to Bitcoin - YouTube

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