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Title: Bitcoin Investment Trust Could IPO by October
Post by: king on January 22, 2017, 01:05:05 PM

Bitcoin Investment Trust Could IPO by October
By Kevin Helms -  January 21, 2017 4669 0
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Bitcoin Investment Trust (BIT) wants to be listed on NYSE Arca, according to a registration statement filed Friday with the U.S Securities and Exchange Commission (SEC). This is the second proposed Bitcoin investment trust listing on the exchange. The first, Solidx Bitcoin Trust, has yet to be approved by the SEC. Using Solidx as a model, it could take the Commission until October to make a decision whether to approve or disapprove BIT’s listing.

Also read: SEC Delays Decision on SolidX Bitcoin Trust

As Donald Trump prepared to be inaugurated as the 45th President of the United States on January 20, Barry Silbert filed a registration statement with the SEC seeking an initial public offering (IPO) for his flagship fund BIT. BIT’s shares are to be listed under the symbol GBTC on the NYSE Arca.


“This is an initial public offering of the Trust’s Shares,” BIT’s registration Bitcoin Investment Trust Could IPO by Octoberstatement reads. The shares “are designed to provide investors with a cost-effective and convenient way to invest in Bitcoin.” Grayscale Investments, LLC is the sponsor of the Trust, Delaware Trust Company is the trustee, the Bank of New York Mellon is the transfer agent, as well as the administrator, and Xapo Inc. is the custodian. The annual fee for investors will remain at 2 percent. The proposed maximum offering is $500 million of the Trust’s shares.

Silbert’s Grayscale Investments, LLC simultaneously announced that it “has ceased its ongoing private placement and will no longer issue shares of the Bitcoin Investment Trust through its previous 506(c) private placement.” However, BIT’s shares will continue to be quoted in the secondary market over-the-counter on OTCQX under the symbol GBTC while the registration with the SEC is pending approval. GBTC currently has assets under management of $164.21 million as of the end of December 2016.

Possible Time Frame

A possible time frame for the SEC to either approve or disapprove BIT’s listing on the NYSE Arca can be estimated using Solidx Bitcoin Trust as an example. Solidx originally filed with the Commission to list on the NYSE Arca on July 11,  Bitcoin Investment Trust Could IPO by October2016.

After the company’s initial filing, the next step will be for the exchange to file with the SEC “a proposed rule change to list and trade shares” under NYSE Arca Equities Rule 8.201. For Solidx, the NYSE Arca filed with the SEC on July 13, 2016, which was two days after Solidx filed. Given that BIT’s filing was on a Friday, the NYSE Arca could file with the SEC early next week.

Then the proposed rule change would be published for comments in the Federal Register. This usually happens between two to three weeks after a filing with the SEC. For Solidx, it was published on August 2, 2016, approximately three weeks after filing. That means the proposed rule change Bitcoin Investment Trust Could IPO by Octoberfor BIT should be published in the Federal Register sometime in the second or third week of February.

After publishing in the Federal Register, the Commission has 180 days to issue an order approving or disapproving the proposed rule change. However, it can also extend that period by a maximum of 60 days if necessary, which is a total of 240 days from the publication in the Federal Register. For Solidx, the SEC has already chosen to extend the consideration period as long as it could to March 30, 2017.

For BIT, 180 days from a likely date of publication in the Federal Register would be early August and 60 days after that would be early October.

Likelihood of Approval

The SEC has a habit of delaying making decisions on Bitcoin investment funds as seen by the delay for Solidx, taking the maximum time allowed by the Securities Exchange Act. Recently, Needham & Company, which provides investment coverage of BIT, suggested that the chance of the SEC approving Bitcoin ETFs is very low, at less than 25 percent.

Bitcoin Investment Trust Could IPO by October
President Trump
According to Needham, there is no more extension available for the Commission after the 60 days. The firm also suggested that the Commission may not make a decision by the deadline, in which case “the proposed rule change is automatically approved,” Needham’s report reads. The firm believes this will increase the likelihood of an ETF being approved. Then, there’s the ‘Trump factor.’

The new administration may be more Bitcoin friendly than the previous administration. “We need to undo many regulations which have stifled investment in American businesses, and restore oversight of the financial industry in a way that does not harm American workers,” President Trump recently said.

Do you think the SEC will approve BIT’s listing by October? Let us know in the comments section below.

Images courtesy of WSJ, Wikimedia, Grayscale, SEC, Solidx

There are no bigger Bitcoin believers than the team. That’s why this site is a one-stop-shop for everything you need to get into bitcoin life. A Bitcoin store? Check. Earning bitcoin? Check. Forum discussions? Check. A casino? Yep, we have that too. Prices and statistics?
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on February 05, 2017, 04:43:10 PM

Saturday, 4 February 2017 | MYT 9:39 PM
Bitcoin: Fast lane to billions or bankruptcy?


RECENTLY, a reader of this column emailed me about advice on bitcoin investing. My view is that investing – or rather speculating with Bitcoin – is like currency trading on steroids.

  Let me explain what Bitcoins are and why I think it is unwise to view them as an “investment”.

Bitcoins have been in the news a lot recently as they (once again) exceeded the magical price of $1,000 for a single bitcoin in January of 2017, before dropping below again.

Bitcoins were the best-performing currency of 2016, increasing a whopping 120% in value, far exceeding the 20% gain made by the Russian Rouble and the Brazilian Real.


Bitcoins were created in 2009 by “Satoshi Nakamoto” and despite serious efforts, the real name of the creator is still shrouded in mystery.

Bitcoins are “mined” by computers which perform blocks of calculations.

The reward you receive in bitcoins for a block of calculations, drops by 50% every time 210,000 blocks have been “mined”.

This means that, over time, in order to earn a bitcoin, more and more blocks of calculations will need to be performed.

Due to this exponential rule, the last bitcoins won’t be mined for another 100 years or so (the currency has a limited supply of 21 million bitcoins), but 75% of all bitcoins are already in circulation!

Bitcoins work through the blockchain technology, which contains a public ledger of all bitcoin transactions ever conducted. The public ledger grows as new bitcoins are mined and transactions are conducted.

Many banks experiment with the blockchain technology in order to make their own transactions safer.

The Winklevoss twins – the ones that sued Mark Zuckerberg over who really founded - are betting heavily on Bitcoins. They say it is better than gold and have their own exchange platform.

The value of a Bitcoin is a rollercoaster. Bitcoins are a popular currency for criminals as they are anonymous and easy to transfer across the world.

Recent spikes have also been attributed to India’s demonetisation policy as well as China’s crackdown on corruption as it is a way to hide your money.

Falls in value have been attributed to the theft of bitcoins, fraud committed by bitcoin exchanges (MtGox) and the closure of a number of Bitcoin exchanges (Cointrader, CoinDesk, MonetaGo, Harborly, Crypto-Trader, etc).

Regardless of the above mentioned unpredictable factors which are driving the value of a Bitcoin up or down without notice, the lack of transparency makes it very hard to determine what is going on with the virtual currency and whether it is a bubble or not.

If you look at the graph in the image, it is easy to image winning bigly and losing bigly.

Bitcoins are too much of a lottery and I wouldn’t recommend investing (or rather gambling) with the virtual currency.

Mark Reijman is co-founder and managing director of, dedicated to increasing financial literacy and to help you save time and money by comparing all credit cards, loans and broadband plans in Malaysia.

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on February 22, 2017, 12:12:11 PM

比特幣一度破1100美元 接近歷史新高
 3133点阅   2017年2月22日




Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on February 24, 2017, 10:44:30 AM

218点看 2017年2月24日






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【独家】30股增减各半 买云升东益电子
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on February 27, 2017, 06:24:48 AM

中国难扼杀比特币/Elaine Ou
241点看 2017年2月26日
ELAINE OU (彭博社专栏作家)























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Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on March 04, 2017, 12:42:58 PM

财经  2017年03月04日
比特幣价格 首次超越黄金

比特幣价格 首次超越黄金




比特幣新闻网CoinDesk的「比特幣价格指数(Bitcoin Price Index ,BPI)」显示,比特幣价格从2015年200美元(约890令吉)的低点逐渐回涨,到週五(3日)衝破1280美元(约5701令吉),超过一盎司黄金的1237.73美元(约5513.46令吉)。








Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on March 05, 2017, 08:42:18 PM

名家  2017年03月05日 | 作者:朱冠华 | 专栏:喝茶论势






















Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on March 06, 2017, 06:26:30 AM

1比特币=1盎司黄金 国内炒家疯狂推升“虚拟泡沫”
2017-03-04 00:31 华夏时报 3  收藏
1比特币=1盎司黄金 国内炒家疯狂推升“虚拟泡沫”

华夏时报(公众号:chinatimes)记者 胡金华 上海报道









“虽然中国央行已要求国内比特币交易平台在合规系统升级完成前暂停提现业务,导致这些平台的交易因此遭受重创,不过比特币活动在非正规的场外交易场所再度风生水起。在名为Local Bitcoins的网站上,其用户在该网站通过刊登广告的形式用本币购买或出售比特币。封堵Local Bitcoins可能不是个解决办法,一个原因是投资者可以使用虚拟专用网络(VPN)翻墙接入。此外,许多交易通过不甚知名的网站和微信、QQ等微信息服务进行,而后者已设立自己的支付体系,允许用户建立聊天机器人[股评]来让交易活动自动化。”有业内人士向记者透露。








“一个能从侧面显示出当前比特币市场火爆的现象是,在贸易量和价格持续高位的情况下,比特币的交易积压正令比特币网络几乎达到了它的最大负荷量。我们上传到推特上的比特币区块浏览器数据显示,比特币内存池迎来持续高峰,而那些未经处理的交易正亟待确认。”3月2日,美国硅谷工程师Tony Arcieri对《华夏时报(公众号:chinatimes)》记者表示,“比特币的内存池是未经处理交易的缓冲区,最近突然爆发,目前该系统正处于最大负荷状态,每秒钟平均只能处理4笔交易。”


“很多主要的企业正在购入比特币,以确保他们能快速应对恶意软件加密。自2016年初以来,一种拥有时间锁定系统的比特币勒索软件已变得相当流行。尽管出现了易于访问的云平台,很多公司(特别是大型企业)仍然运行着本地服务器、数据库及计算机来存储重要的数据。这些数据,包括用户的个人信息,客户的财务数据以及公司的机密文件,它们都存储在本地服务器当中,然而,在本地服务器连接到互联网时,会容易受到勒索或恶意软件的攻击。勒索软件的设计者和开发者故意设定了一个时间框架,目的是给受害者施压,让他们支付比特币赎金。很多拥有重要财务或个人数据的大型公司正在建立比特币钱包,并采购一些比特币,以防公司的服务器或电脑遭遇勒索加密而遭受重大损失。”美国信息管理技术公司Nuix的首席执行官Chris Pogue受访时表示。

责任编辑:孟俊莲 主编:冉学东
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on March 09, 2017, 10:08:34 AM

31点看 2017年3月9日








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Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on March 11, 2017, 05:38:05 PM

1196点看 2017年3月11日





比特币这种虚拟货币问世才短短8年,已成颇受部分投资人追捧的替代性投资标的,特别是在中国等面临资本管制的市场。Bloomberg Intelligence分析师指出,在几乎所有资产类别,第1档推出的ETF都会占据大半市场;例如全球最大黄金ETF“SPDR Gold Trust”,持仓规模是第2大“iShares Gold Trust”的4倍。


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Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on March 12, 2017, 08:48:23 AM

The Blockchain Will Do to the Financial System What the Internet Did to Media
Joichi ItoNeha NarulaRobleh Ali
MARCH 08, 2017 UPDATED MARCH 09, 2017

PRINT 8.95

Apple Inc. in 2015

Erik Peterson (A)

Intel Corp.--1968-2003
Even years into the deployment of the internet, many believed that it was still a fad. Of course, the internet has since become a major influence on our lives, from how we buy goods and services, to the ways we socialize with friends, to the Arab Spring, to the 2016 U.S. presidential election. Yet, in the 1990s, the mainstream press scoffed when Nicholas Negroponte predicted that most of us would soon be reading our news online rather than from a newspaper.

Fast forward two decades: Will we soon be seeing a similar impact from cryptocurrencies and blockchains? There are certainly many parallels. Like the internet, cryptocurrencies such as Bitcoin are driven by advances in core technologies along with a new, open architecture — the Bitcoin blockchain. Like the internet, this technology is designed to be decentralized, with “layers,” where each layer is defined by an interoperable open protocol on top of which companies, as well as individuals, can build products and services. Like the internet, in the early stages of development there are many competing technologies, so it’s important to specify which blockchain you’re talking about. And, like the internet, blockchain technology is strongest when everyone is using the same network, so in the future we might all be talking about “the” blockchain.

The internet and its layers took decades to develop, with each technical layer unlocking an explosion of creative and entrepreneurial activity. Early on, Ethernet standardized the way in which computers transmitted bits over wires, and companies such as 3Com were able to build empires on their network switching products. The TCP/IP protocol was used to address and control how packets of data were routed between computers. Cisco built products like network routers, capitalizing on that protocol, and by March 2000 Cisco was the most valuable company in the world. In 1989 Tim Berners-Lee developed HTTP, another open, permissionless protocol, and the web enabled businesses such as eBay, Google, and Amazon.

The Killer App for Blockchains
But here’s one major difference: The early internet was noncommercial, developed initially through defense funding and used primarily to connect research institutions and universities. It wasn’t designed to make money, but rather to develop the most robust and effective way to build a network. This initial lack of commercial players and interests was critical — it allowed the formation of a network architecture that shared resources in a way that would not have occurred in a market-driven system.

The “killer app” for the early internet was email; it’s what drove adoption and strengthened the network. Bitcoin is the killer app for the blockchain. Bitcoin drives adoption of its underlying blockchain, and its strong technical community and robust code review process make it the most secure and reliable of the various blockchains. Like email, it’s likely that some form of Bitcoin will persist. But the blockchain will also support a variety of other applications, including smart contracts, asset registries, and many new types of transactions that will go beyond financial and legal uses.


Business in the Era of Blockchain
How technology is transforming transactions.
We might best understand Bitcoin as a microcosm of how a new, decentralized, and automated financial system could work. While its current capabilities are still limited (for example, there’s a low transaction volume when compared to conventional payment systems), it offers a compelling vision of a possible future because the code describes both a regulatory and an economic system. For example, transactions must satisfy certain rules before they can be accepted into the Bitcoin blockchain. Instead of writing rules and appointing a regulator to monitor for breaches, which is how the current financial system works, Bitcoin’s code sets the rules and the network checks for compliance. If a transaction breaks the rules (for example, if the digital signatures don’t tally), it is rejected by the network. Even Bitcoin’s “monetary policy” is written into its code: New money is issued every 10 minutes, and the supply is limited so there will only ever be 21 million Bitcoins, a hard money rule similar to the gold standard (i.e., a system in which the money supply is fixed to a commodity and not determined by government).

This is not to say the choices Bitcoin currently offers are perfect. In fact, many economists disagree with Bitcoin’s hard money rule, and lawyers argue that regulation through code alone is inflexible and doesn’t permit any role for useful discretion. What cannot be disputed, however, is that Bitcoin is real, and it works. People ascribe real economic value to Bitcoins. “Miners,” who maintain the Bitcoin blockchain, and “wallet providers,” who write the software people use to transact in Bitcoin, follow the rules without exception. Its blockchain has remained resilient to attack, and it supports a robust, if basic, payment system. This opportunity to extend the use of the blockchain to remake the financial system unnerves and enthralls in equal measure.

Too Much Too Soon?
Unfortunately, the exuberance of fintech investors is way ahead of the development of the technology. We’re often seeing so-called blockchains that are not really innovative, but instead are merely databases, which have existed for decades, calling themselves blockchains to jump on the buzzword bandwagon.

There were many “pre-internet” players, for example telecom operators and cable companies trying to provide interactive multimedia over their networks, but none could generate enough traction to create names that you would remember. We may be seeing a similar trend for blockchain technology. Currently, the landscape is a combination of incumbent financial institutions making incremental improvements and new startups building on top of rapidly changing infrastructure, hoping that the quicksand will harden before they run out of runway.

In the case of cryptocurrencies, we’re seeing far more aggressive investments of venture capital than we did for the internet during similar early stages of development. This excessive interest by investors and businesses makes cryptocurrencies fundamentally different from the internet because they haven’t had several decades of relative obscurity where noncommercial researchers could fiddle, experiment, iterate on, and rethink the architecture. This is one reason why the work that we’re doing at the Digital Currency Initiative at the MIT Media Lab is so important: It is one of the few places a substantial effort is being made to work on the technology and infrastructure clear of financial interests and motivations. This is critical.

The existing financial system is very complex at the moment, and that complexity creates risk. A new decentralized financial system made possible with cryptocurrencies could be much simpler by removing layers of intermediation. It could help insure against risk, and by moving money in different ways could open up the possibility for different types of financial products. Cryptocurrencies could open up the financial system to people who are currently excluded, lower barriers to entry, and enable greater competition. Regulators could remake the financial system by rethinking the best way to achieve policy goals, without diluting standards. We could also have an opportunity to reduce systemic risk: Like users, regulators suffer from opacity. Research shows that making the system more transparent reduces intermediation chains and costs to users of the financial system.

The Takeaway
The primary use and even the values of the people using new technologies and infrastructure tend to change drastically as these technologies mature. This will certainly be true for blockchain technology.

Bitcoin was first created as a response to the 2008 financial crisis. The originating community had a strong libertarian and antiestablishment spin that, in many ways, was similar to the free-software culture, with its strong anticommercial values. However, it is likely that, just as Linux is now embedded in almost every kind of commercial application or service, many of the ultimate use cases of the blockchain could become standard fare for established players like large companies, governments, and central banks.

Similarly, many view blockchain technology and fintech as merely a new technology for delivery — maybe something akin to CD-ROMs. In fact, it is more likely to do to the financial system and regulation what the internet has done to media companies and advertising firms. Such a fundamental restructuring of a core part of the economy is a big challenge to incumbent firms that make their living from it. Preparing for these changes means investing in research and experimentation. Those who do so will be well placed to thrive in the new, emerging financial system.

Editor’s Note: The headline on this article has been updated from its original version.

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on March 12, 2017, 08:51:02 AM

time柒月 2016-10-14 11:01:58发布
然而随着时间的推移,传统银行开始表现出对新技术趋势的强大适应能力。对于方兴未艾的新金融技术,传统银行顺势而为,积极发掘和探索将新金融技术与自身业务相结合的渠道,以提高自身原有业务的运营效率。在此方面,区块链技术成为传统银行应对新金融技术竞争的有力武器。在过去的两年中,诸多国际性银行对于区块链的研发应用力度不断增强。最初是单个银行自行研发,如汇丰、花旗、高盛等老牌国际性银行都开始尝试将区块链技术应用于自身系统,以提高营运效率和节省成本。值得注意的是,最近多个国际性银行开始联合研发区域链技术应用,据海外媒体报道,包括瑞银、德意志银行、桑坦德银行以及纽约梅隆银行在内的四家全球性银行和经纪公司毅联汇业(ICAP)已经开始联手研发一种虚拟结算货币——“多功能结算币”(Utility Settlement Coin),用于未来银行间跨境支付和金融交易清算。这四家大银行计划向各国央行推介这一理念,并争取在2018年初将其投入商用。
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on March 14, 2017, 06:59:45 AM

比特币大反弹 收复上周失地
22点看 2017年3月14日




这是对文克莱沃斯(Cameron Winklevoss)和泰勒文克莱沃斯(Tyler Winklevoss)兄弟及其文克莱沃斯比特币信托基金(Winklevoss Bitcoin Trust)一次备受关注的否决,文克莱沃斯兄弟于近四年前首次申请了这种产品。



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多头仓位下降 油库持续上升
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on March 20, 2017, 03:20:34 PM

2017-03-20 14:55




业界有些人士希望提高区块的容量,却引发持续的激烈争辩。支持扩大容量者已组成“Bitcoin Unlimited”,对比特币的区块大小完全不设限,另一派则支持“Bitcoin Core”核心价值,捍卫现状。由于两方都可能赢得足够的支持来封锁对方,一旦双方的版本不相容,目前的比特币将分成两种版本。这种疑虑,也导致比特币的价格大跌。

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on March 23, 2017, 03:12:41 PM

189点看 2017年3月23日



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Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on April 10, 2017, 06:44:53 AM

2848点看 2017年4月9日

(纽约9日综合电)比特币在过去7年中有6年荣登全球表现最佳货币,目前价格约为每个1200美元。不过,Snapchat第1个投资人Jeremy Liew和BLOCKCHAIN执行长史密斯(Peter Smith)认为,比特币离完全发挥潜力还很远,2030年比特币价格可能涨至每个50万美元。

Jeremy Liew和史密斯的论点以大众对比特币兴趣增浓为基础,而以下3点是民众对比特币兴趣增浓的原因:


世界银行的数据显示,过去15年汇至国外的钱几乎增加1倍,目前已达到GDP的0.76%。Jeremy Liew和史密斯说:“把钱汇回家乡的游子已发现比特币是不贵的替代品,我们认为随着比特币知名度上升,以比特币为基础的汇款占比将大增。”


Jeremy Liew和史密斯表示,英国、美国和开发中国家政局不确定性升高,将有助于提高大众对比特币的兴趣。他们说:“我们相信在地缘政治风险上升之际,知名度高、流动性高、移动便利和表现持续优于市场这些特点,将使比特币成为消费者和投资人心中强劲的投资竞争对手。”


Jeremy Liew和史密斯认为,随着全球与智慧手机进一步连结,未来10年非现金交易占比将从15%升至30%。目前全球智慧手机渗透率仅63%,2020年前智慧手机用户预估将增加10亿人。这将使几乎所有人口袋里可能都有1家银行,这应会为比特币带来助益。


Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on April 26, 2017, 06:32:37 AM

Wednesday, 26 April 2017 | MYT 1:44 AM
US regulators to review decision blocking Bitcoin ETF’s listing
Bitcoin presents a new set of risks to investors given its limited adoption and a number of massive cybersecurity breaches affecting bitcoin owners, among others. The Reuters photo shows a bitcoin sticker on the window of a convenience store in Los Angeles.
Bitcoin presents a new set of risks to investors given its limited adoption and a number of massive cybersecurity breaches affecting bitcoin owners, among others. The Reuters photo shows a bitcoin sticker on the window of a convenience store in Los Angeles.
NEW YORK: The US Securities and Exchange Commission plans to review its decision last month to block the listing of the first US exchange-traded fund tracking the digital currency bitcoin, a regulatory filing showed on Tuesday.

A more-than-three-year effort by investors Cameron and Tyler Winklevoss to convince the SEC to allow it to bring the Bitcoin ETF to market stalled when the agency’s staff ruled against them in March.

Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government.

A fund holding the currency could bring more professional investors to the asset and push its price higher.

Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments.

Bitcoin traded up 1.7% at US$1274.99 earlier on Tuesday. The digital currency has rebounded after initially plunging following the SEC’s initial decision calling the digital currency market “unregulated.”

CBOE Holdings Inc’s Bats exchange had applied to list the ETF and appealed to the commission to review its staff’s decision. The exchange did not immediately respond to a request for comment. - Reuters

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 03, 2017, 11:18:07 AM

341点看 2017年5月3日









Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 05, 2017, 06:50:42 AM


国内发布于 2017年05月4日 • 最后更新 8 hours ago • 报导:黄俊南、陈淑珊
虚拟货币新趋势 金钱游戏借机招客















Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 05, 2017, 10:42:21 AM

430点看 2017年5月5日








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Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 09, 2017, 03:30:30 PM

2017-05-09 15:06





Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 10, 2017, 08:30:38 AM

Business NewsHome > Business > Business News
Wednesday, 10 May 2017 | MYT 6:52 AM
Bitcoin surges to all-time high above US$1,700
"We have an influx of new capital in the space and that capital goes back and forth among crypto-assets and bitcoin," said Chris Burniske, blockchain products leader at ARK Invest in New York, which manages exchange-traded funds.  "Bitcoin is still the main liquidity provider in the market and people use it to buy other crypto-assets."
"We have an influx of new capital in the space and that capital goes back and forth among crypto-assets and bitcoin," said Chris Burniske, blockchain products leader at ARK Invest in New York, which manages exchange-traded funds. "Bitcoin is still the main liquidity provider in the market and people use it to buy other crypto-assets."
NEW YORK: Digital currency bitcoin hit a record high on Tuesday as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology.

Blockchain, the underlying technology behind bitcoin, is a financial ledger maintained by a network of computers that can track the movement of any asset without the need for a central regulator

Bitcoin hit a record $1,760.40 on the BitStamp platform and was last at $1,747.89, up 6 percent on the day. So far this year, bitcoin has surged nearly 80 percent. Bitcoin's market capitalisation on Tuesday soared to $52.5 billion, according to data from

Aside from being an asset that can be traded on exchanges like stocks and bonds, bitcoin has become a mode of payment for some retailers, such as, and a way to transfer funds without the need for a third party.

"We have an influx of new capital in the space and that capital goes back and forth among crypto-assets and bitcoin," said Chris Burniske, blockchain products leader at ARK Invest in New York, which manages exchange-traded funds.

"Bitcoin is still the main liquidity provider in the market and people use it to buy other crypto-assets."

That said, Minneapolis Federal Reserve Bank President Neel Kashkari has been sceptical about bitcoin's outlook, noting that blockchain has more potential for being adopted in the future than the digital currency itself.

"I think sentiment has shifted in the markets, in the Fed," Kashkari said at a technology conference in Minneapolis on Tuesday.

Still, a big part of bitcoin's recent surge is the increase in demand for other digital currencies being sold in so-called "initial coin offerings," or ICOs. Under ICOs, blockchain start-ups sell their tokens directly to the public to raise capital without any regulatory oversight.

At least 40 start-ups have launched an ICO this year, according Smith + Crown data.

"For the first time in financial history, founders can access capital from both large and small investors armed with nothing more than a slick website," said Arthur Hayes, chief executive at crypto-currency derivatives trading platform BitMEX.

Analysts say the foundation for bitcoin's gains was set last July in a process called "halving," in which rewards offered to bitcoin miners shrink. That has constrained bitcoin's supply.

Bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and clear the transaction is rewarded with new bitcoins. - Reuetrs
Stocks , Earnings , Forex , Investing , Markets

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Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 11, 2017, 05:10:40 PM

Bitcoin crosses $1,800 for the first time adding $3 billion in market cap in just four days
Bitcoin crossed $1,800 for the first time on Thursday.
The rally in bitcoin has been driven by a number of factors such as positive noises from policymakers as well as the legalization of the cryptocurrency in Japan.
Debate over the future of the underlying technology of bitcoin continues.
Arjun Kharpal   | @ArjunKharpal
1 Hour Ago
Bitcoin surpassed $1,800 on Thursday to a fresh record high, rising more than $100 in just two days, driven by comments from policy makers and positive noises around the future of the cryptocurrency.

The price of the digital currency was trading at around $1,824 by early morning in London, according to Coindesk's bitcoin price index. It breached $1,700 for the first time on Tuesday.

Since Monday, the market capitalization of bitcoin has risen over $3 billion to $29.53 billion. The price of bitcoin has soared 81 percent since the start of the year.

The latest price driver was comments from Minneapolis Federal Reserve Bank President Neel Kashkari. The policymaker talked up the potential of blockchain – the technology that underpins bitcoin.

George Frey | Getty Images
"I would say I think conventional wisdom now is that blockchain and the underlying technology is probably more interesting and has more potential than maybe bitcoin does by itself," Kashkari said at a technology conference, according to Reuters.

His comments are the latest in a growing number of officials that have supported bitcoin and blockchain technology, helping to bring it more into the mainstream.

Japan legalized the cryptocurrency as a payment method recently and this has led to a greater amount of bitcoin being bought with yen, which is helping to support the price.

At the same time, Russia, one of the strongest opponents of bitcoin is seeking to regulate the digital currency.

In the U.S., Cameron and Tyler Winklevoss proposed an exchange-traded fund (ETF), which would have allowed large institutional investors to get in on bitcoin. However, the Securities and Exchange Commission (SEC) rejected the application, but they are now reviewing their original decision, stoking hope that it might get a second chance.

Such positive noises have led to some experts, such as Aurelien Menant, founder and CEO of Gatecoin, a regulated blockchain assets exchange based in Hong Kong, to suggest that the price of bitcoin could hit $3,000 by the end of the year.

Meanwhile, within the bitcoin community, a debate has been raging about the future of the technology that underpins bitcoin. Transactions in bitcoin are taking longer than they have done before because of a backlog in the system. Some community members proposed a solution that could have led to a process known as a "hard fork", leading to two separate bitcoin currencies. Such concerns have abated however with an alternative solution being put forward.

Read this article for a full recap and explanation of the debate and why it matters to th
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 17, 2017, 06:59:19 AM

2017-05-16 19:19










同时,报道指东京Coincheck将推出比特币的固定利率存款,俄罗斯及印度政府亦有意让虚拟货币合法化,以及今年已有逾40家新创企业进行创新融资方式ICO(Initial Coin Offering),令比特币也跟着炙手可热。








Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 17, 2017, 02:07:53 PM

Business NewsHome > Business > Business News
Wednesday, 17 May 2017 | MYT 11:03 AM
All about bitcoin, the mysterious digital currency

NEW YORK: As the hackers behind the global ransomware attack demand payment in bitcoin, here is a look at the basics behind the electronic currency.

Why are hackers using bitcoin?

The digital currency bitcoin has emerged as a favourite tool for hackers demanding a ransom for a simple reason: You can start accepting bitcoin anywhere in the world without having to reveal your identity.

For criminals, this makes bitcoin much more attractive than systems like Western Union, which generally require customers to provide identification before opening an account and receiving transferred money.

Click on the link for more:
Banking , Corporate News , Technology

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 17, 2017, 02:09:22 PM

All about bitcoin, the mysterious digital currency
 A collection of bitcoin tokens.
A collection of bitcoin tokens. PHOTO: BLOOMBERG
PUBLISHEDMAY 16, 2017, 10:30 AM SGT
NEW YORK - As the hackers behind the global ransomware attack demand payment in bitcoin, here is a look at the basics behind the electronic currency.


The digital currency bitcoin has emerged as a favourite tool for hackers demanding a ransom for a simple reason: You can start accepting bitcoin anywhere in the world without having to reveal your identity.

For criminals, this makes bitcoin much more attractive than systems like Western Union, which generally require customers to provide identification before opening an account and receiving transferred money.


Bitcoin is a digital token that can be sent electronically from one user to another, anywhere in the world.

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Bitcoin is also the name of the payment network on which the bitcoin digital tokens move. (Some people differentiate between Bitcoin capitalised, as the token, and bitcoin lowercase, as the network.)

Unlike traditional payment networks like Visa or American Express, no single company or person runs the bitcoin network. Instead, it is a decentralised network of computers around the world that keep track of all bitcoin transactions, similar to the decentralised network of servers that makes the Internet work.

Bitcoin mining computers in Bitfury's mining farm near Keflavik, Iceland. PHOTO: REUTERS
Because there is no central authority running bitcoin, no one has the authority to force new users to reveal their identities. The network was designed this way to create a currency and a financial network outside the control of any government or single company.

The computers that join the network and track bitcoin transactions are motivated to do so by the new coins that are released to the network every 10 minutes and are given to one of the computers helping to track the transactions and maintain the network.


A Bitcoin ATM at the Staten Island Ferry's Whitehall Terminal in New York. PHOTO: NYTIMES
There are companies in most countries that will sell you bitcoins in exchange for the local currency.

In the United States, a company called Coinbase will link to your bank account or credit card and then sell you the coins for US dollars. Opening an account with Coinbase is similar to opening a traditional bank or stock brokerage account, with lots of verification of your identity needed.

A Bitcoin paper wallet with QR codes and a coin.
Related Story
Few victims are paying hackers because using bitcoin is hard

For people who do not want to reveal their identities, there are services like LocalBitcoins that will connect local people who want to buy and sell bitcoins for cash, generally without any verification of identity required.

To start accepting bitcoins is even easier. One needs only to create a bitcoin address, which can be done anonymously by anyone with Internet access.

The price of bitcoin fluctuates constantly and is determined by open-market bidding on bitcoin exchanges, similar to the way that stock and gold prices are determined by bidding on exchanges.


All bitcoin transactions are recorded on the network's public ledger, known as the blockchain.

Law enforcement or financial authorities can sometimes use the blockchain to track transactions among criminals. But as long as the criminals do not associate a real-world identity with their bitcoin address, they are generally safe.

Complicating matters further, there are increasingly sophisticated bitcoin laundering services, known as tumblers, which mix large quantities of transactions together in order to make it harder for the authorities to track the transactions.

Where it can get more difficult for hackers is when they want to convert the bitcoins they have received into a traditional national currency.

Most companies that convert bitcoins to dollars in the United States require that their customers provide identification. If a criminal registered with a company like that, it would be relatively easy for the police to track them down.

But there are many bitcoin exchanges outside the United States that do not require customers to register with a real-world identity.

LocalBitcoins also makes it easy to find someone in any city around the world who will meet you in person and pay cash for bitcoins without requiring any identification - a sort of Craigslist for bitcoin exchanges. It is also getting easier to buy goods online using bitcoins, without ever converting the digital currency into dollars or euros.


A Bitcoin sign is seen in a window in Toronto. PHOTO: REUTERS
The price of bitcoin has recently hit a high above US$1,800 (S$2,516).

Like gold, the price of bitcoin has always been driven by the scarcity of the digital tokens. When bitcoin was created in 2009, it was determined that only 21 million coins would ever be created.

Technology investors have purchased coins and pushed up the price out of a belief that the tokens and the system will be a sort of global digital currency and financial network for the future.

While real-world transactions have been slow to take off, bitcoin has continued to be popular for black market uses like ransomware and online drug markets like the Silk Road and its successors.

The corporate world has also taken interest in the technology that enables bitcoin, especially its decentralised financial network and the blockchain, the global ledger where all bitcoin transactions are recorded.

Many banks are making big bets that real-world financial transactions will one day be run on networks similar to bitcoin, which can operate more quickly, efficiently and securely than traditional financial networks.

There are now many competitors to bitcoin, like Ethereum, and their value has also been pushed up by growing interest in the bitcoin technology. But bitcoin has remained the largest so-called cryptocurrency and is generally the one that people use to buy and sell other cryptocurrencies.


Bitcoin was introduced in 2008 by a shadowy creator going by the name of Satoshi Nakamoto, who only communicated by e-mail and social messaging.

While several people have been identified as likely candidates to be Satoshi, as the creator is known in the world of bitcoin, not one has been confirmed. So the search for Satoshi has gone on.

Satoshi created the original rules of the bitcoin network and then released the software to the world in 2009.

Whether it is he, she or they, Satoshi largely disappeared from view two years later. Anyone can download and use the software, and Satoshi now has no more control over the network than anyone else using the software.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 19, 2017, 08:29:48 PM

226点看 2017年5月19日











Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 21, 2017, 10:55:49 AM

110点看 2017年5月21日





Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 22, 2017, 03:14:47 PM

Business NewsHome > Business > Business News
Monday, 22 May 2017 | MYT 1:27 PM
Bitcoin options exchange raises US$11.4m in funding

NEW YORK: Ledger Holdings, the New York-based parent company of bitcoin options exchange LedgerX, said on Monday it closed $11.4 million in funding led by Miami International Holdings Inc and China's Huiyin Blockchain Venture Investments.

The funding supports LedgerX's plan to operate a regulated exchange and clearing house for bitcoin and other digital currencies.

LedgerX is awaiting regulatory approval from the Commodity Futures Trading Commission to operate the first U.S. regulated exchange and clearing house for bitcoin options. On approval, participating institutions can use the LedgerX platform to obtain and hedge bitcoin using exchange-traded and centrally cleared options contracts.

"In the short term, these investments will further our application to become a regulated exchange and clearing house for bitcoin options," Paul Chou, chief executive officer of LedgerX LLC, said in a statement.

"In the long term, these strategic investors will help us enter additional marketplaces and territories," he added.

Chou sits on the CFTC's Technology Advisory Committee.

Miami International Holdings is the parent company of Miami International Securities Exchange LLC and MIAX PEARL LLC, two fully electronic options trading exchanges.

MIAX Options lists and trades options on more than 2,600 multi-listed classes. Huiyin Blockchain Venture is a subsidiary of investment conglomerate Huiyin Group.

LedgerX earlier raised $1.5 million from funders led by Google Ventures and Lightspeed Venture Partners.

Bitcoin is a virtual currency that can be moved like money around the world quickly and anonymously without the need for a central authority. It hit a record high over the weekend, with one unit of bitcoin trading above $2,000 on the BitStamp platform. - Reuters
Banking , Forex

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Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 23, 2017, 06:51:13 AM

History is Made: Bitcoin Prices Top $2,000 to Set New All-Time High
May 20, 2017 by Charles Bovaird

Markets  •  News  •  Bitcoin  •  Markets News

The price of bitcoin surpassed $2,000 for the first time in history today, pushing the cryptocurrency to a fresh, new record amid rising trader interest.

The currency's price rose as much as 2.62% during the session, according to CoinDesk's Bitcoin Price Index (BPI) to hit a press time high of $2,019. By rising above $2,000, bitcoin's price has surged more than 100% this year and nearly 125% since hitting an annual low of $891.51 in late March.

Now that the the digital currency has surpassed this key, psychological level of $2,000, it could experience some significant tailwinds, according to several analysts who spoke with CoinDesk.

High hopes

Arthur Hayes, co-founder and CEO of leveraged digital currency platform BitMEX, told CoinDesk that should bitcoin prices "convincingly" surpass $2,000, "the rate of price appreciation will accelerate dramatically".

Charles Hayter, co-founder and CEO of CryptoCompare, also weighed in on the importance of this price level, stating:

"As a psychological level, bitcoin hitting $2,000 is an important milestone and will generate further interest that could boost the price further."

Speaking of interest, analysts generally agreed that bitcoin's rise above $2,000 could spur significant attention from the media. Hayes offered similar sentiment, stating that a sustained rise above $2,000 would prompt every major financial media outlet to cover bitcoin.

In spite of all this visibility, Hayter cautioned that sometimes, the "lack of sophistication" that goes along with mainstream media coverage "can be dangerous as it snowballs momentum."

Interestingly enough, Google Trends data has thus far shown that online searches for the word "bitcoin" have still not recovered to the all-time high they set in December 2013, but they are getting closer. While a figure of 100 represents the highest point for these searches, the metric stood at 85 at the time of report.

While many agreed that bitcoin's rise above $2,000 would spur greater media coverage, the factors that drove the currency's price above this level seemed a bit more complex.

Growing trader interest

One development that has coincided with bitcoin's sharp price gains over the last several months is the rising interest of traders, as measured by trading volume at major exchanges. Earlier this month, both Kraken and Poloniex announced that they were experiencing surging transaction activity.

Kraken indicated that on 5th May, trading volume across all digital assets surpassed $178m, setting an all-time high and beating the prior record by 25%.

Poloniex expressed similar sentiment, saying in a statement that:

"We have never seen such enthusiasm for trading blockchain tokens as we have in the past few months. Since January, we've seen an increase of more than 600% active traders online and regularly process 640% more transactions than we did merely [four] months ago."

Another factor that has helped drive bitcoin prices is the rising influence of Japan in the bitcoin markets, where the technology is now regulated. The Japanese yen is the single largest currency being exchanged for bitcoin, accounting for more than 45% of the money flow into bitcoin at the time of report, according to CryptoCompare data.

The US dollar came in a relatively distant second, making up approximately 30% of the money flowing into bitcoin, according to additional CryptoCompare figures.

This increase in the use of the Japanese yen comes after Japan moved to formally recognize bitcoin as a legal method of payment starting 1st April. The country's lawmakers enacted legislation that both classified the cryptocurrency as a type of prepaid payment instrument and also caused it to fall under anti-money laundering and know-your-customer rules.

Scaling dilemma fades

Bitcoin prices have even been rising sharply in spite of the cryptocurrency's ongoing scaling dilemma, an ongoing issue with its transaction capacity that members of the bitcoin community have been trying to resolve.

Developers could address this problem by increasing block size, increasing the number of transactions that can fit into an individual block through Segregated Witness, or both. Thus far, the bitcoin network has failed to rally the support needed to bring about any such changes.

Still, bitcoin markets seem unhindered by the scaling dilemma, and Hayes spoke to this development:

"It appears the scaling issue is forgotten. The positive momentum and publicity continues to attract new capital into bitcoin."

Rocket icon via Shutterstock

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 23, 2017, 11:56:10 AM

2017-05-23 10:59




比特币于2009年首度推出,至2010年5月22日首度公开交易,当时一名比特币“矿工”Laszlo Hanyecz共花了一万枚比特币买了两块Pizza,是史上首宗以比特币作为支付货币的交易,故这天亦被市场称为“比特币Pizza日”(Bitcoin Pizza Day)。

若以现市价计,该两块Pizza共值2163.36万美元(约9300万令吉),但Laszlo Hanyecz当时认为,每枚比特币的市值只有仅0.3美仙。不过,时至今日,比特币的价格已急速飙升,根据Coindesk估算,目前比特币的总市值已突破600亿美元大关。



Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 24, 2017, 06:50:35 AM

133点看 2017年5月23日





受到新型筹资方式——首次代币发行(initial coin offering)的带动,虚拟货币整体迎来了新一波投机性投资。



Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 25, 2017, 02:07:51 PM

410点看 2017年5月25日







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Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 25, 2017, 06:54:04 PM

主页 > 财经 > 国际 > 比特币强涨 飙破2400美元
235点看 2017年5月25日






Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 26, 2017, 06:38:31 AM

If you bought $100 of bitcoin 7 years ago, you'd be sitting on $75 million now
The price of bitcoin hit a fresh record high on Monday nearing $2,200.
Monday also marks the seventh anniversary of Bitcoin Pizza Day, which is widely considered to be the first transaction using the cryptocurrency.
If you bought $100 worth of bitcoin on May 22, 2010, you'd be sitting on around $72.9 million today.
Arjun Kharpal   | @ArjunKharpal
Monday, 22 May 2017 | 12:51 PM ET
    Bitcoin's big rally pushes prices to record highs 
Monday, 22 May 2017 | 2:53 PM ET | 01:54
Monday marks the seven-year anniversary of Bitcoin Pizza Day – the moment a programmer named Laszlo Hanyecz spent 10,000 bitcoin on two Papa John's pizzas.

More important than the episode being widely recognized as the first transaction using the cryptocurrency is what it tells us about the bitcoin rally that saw it break through the $2,100 and $2,200 marks on Monday.

Bitcoin was trading as high as $2,251.61 midday Monday, hitting a fresh record high, after first powering through the $2,000 barrier over the weekend, according to CoinDesk data.

Getty Images
On May 22, 2010, Hanyecz asked a fellow enthusiast on a bitcoin forum to accept 10,000 bitcoin for two Papa John's Pizzas. At the time, Hanyecz believed that the coins he had "mined" on his computer were worth around 0.003 cents each.

Bitcoin mining involves solving a complex mathematical solution with the miner being rewarded in bitcoin. This is how Hanyecz got his initial coins.

The cryptocurrency has many doubters as it continues to be associated with criminal activity, but it has still seen a stunning rally. Here are two facts, on Bitcoin Pizza Day, however, that highlight this:

While being worth $30 at the time, Hanyecz pizzas would now cost $22.5 million at current bitcoin prices.
If you bought $100 of bitcoin at the 0.003 cent price on May 22, 2010, you'd now be sitting on around $75 million.
A number of factors have been driving the rally:

Recently passed legislation in Japan that allows retailers to start accepting bitcoin as a legal currency has boosted trading in yen, which now accounts for over 40 percent of all bitcoin trade
Political uncertainty globally has driven demand for bitcoin as a safe haven asset
A debate within the bitcoin community about the future of the underlying technology behind bitcoin known as the blockchain has been taking place. There was fear at one point this could lead to the creation of two separate cryptocurrencies but those worries have largely subsided with an alternative, more palatable option now being put forward.
For an in-depth look at the factors driving bitcoin, click here.

Bitcoin has rallied over 120 percent year to-date.

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 26, 2017, 04:57:49 PM

2017-05-26 16:20




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比特币周二以来大涨25%,主要因为代表56家企业的数位货币集团(Digital Currency Group)在纽约开会达成标准化协议。



Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 28, 2017, 03:12:03 PM

1160点看 2017年5月28日





Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 30, 2017, 12:25:55 PM

Bitcoin's rapid surge raises reasons to question latest frenzy

May 30, 2017 11:51 am MYT
NEW YORK (May 30): Bitcoin’s astronomical rally has cryptocurrency bulls feeling vindicated. Not so fast, skeptics say.

The digital currency’s more than 100% surge in the past two months looks eerily familiar, argue the bears, pointing to November 2013, when the price quintupled in short order to top US$1,000 for the fist time. By Valentine’s Day it was worth around half that, and spent the better part of the next two years languishing below US$500.

Then it absolutely exploded — jumping more than US$1,400 in two months. At its height last week, one bitcoin could buy about two ounces of gold. Its champions touted the arrival of blockchain into the mainstream, the coin’s underlying technology which they say can lift the poor out of poverty and make transactions more secure, inexpensive and efficient.

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But signs of a top have emerged, detractors warn. On May 25, bitcoin surged more than US$300 to a record only to turn tail and close little changed. The US$600 round trip was the biggest daily swing in its history. It then slumped 8% the next day. Bitcoin was at US$2,253 in Asia on Tuesday. For bears, that kind of volatility shows the asset’s unreliability as a store of value.

Here are some other reasons why they warn caution is warranted:

Safety Questions

This month’s ransomware attacks serve as a reminder that bitcoin is still beloved by hackers and criminals because of its anonymity. The cryptocurrency plunged in 2014 after Tokyo-based Mt. Gox — then the largest bitcoin exchange — said it had been breached and then filed for bankruptcy. Its value sank again in August 2016 after hackers stole about US$69 million from Hong Kong-based Bitfinex. The exchange has since repaid its customers.

Scaling Debate

The bitcoin community has been split for more than a year on how to upgrade its blockchain. The time and fees necessary to verify transactions have climbed to record highs, making it more difficult for businesses to use the currency as a means of payment. While bitcoin executives have said that 2017 might be the year the cryptocurrency really starts to scale, others aren’t so sure.

Last week, more than 50 companies signed a pact to speed up transactions, but ideological differences have prevented similar agreements — like the one reached last year in Hong Kong — from actually being implemented. The much-touted SegWit upgrade was also released in October, but only a third of the community has embraced it. If the latest proposal fails to gain traction and the deadlock continues, digital currency users may dump bitcoin in favor of alt-coins that offer better blockchains.

Rival Digital Currencies

As the surge sends the cryptocurrency world into a frenzy, it can be easy to lose sight of the bigger picture. While bitcoin’s value has increased more than 100% since the beginning of the year, its slice of the pie has shrunk as its digital cousins steal some of the spotlight. There are an estimated 700 rivals, according to Ron Quaranta, chairman of the Wall Street Blockchain Alliance.

Bitcoin dominated about half of the overall digital currency market as of Friday, down from around 85% in February, according to data from Meanwhile, Ethereum’s share increased to about 20%. Some token fans aren’t sweating it though, as they say bitcoin’s potential demise doesn’t really matter as long as another digital currency takes hold.

Not Recognised By Governments

The general public doesn’t understand bitcoin, and many regulators still don’t either, which makes it tough to regulate. In 2015, New York started issuing controversial licenses to cryptocurrency companies, but only three had been issued as of mid-January, according to Coinbase, as many startups couldn’t afford the costs of applying.

In January, the Financial Industry Regulatory Authority asked the public for help identifying the potential risks of blockchain. Two months later, bitcoin plummeted after the US Securities and Exchange Commission rejected a proposal by the Winklevoss twins for a publicly traded fund based on the digital currency.

In a report last week about blockchain in China, analysts at Sanford C. Bernstein wrote that while the technology could benefit Chinese banks, it’s unlikely to start a financial revolution.

"We believe blockchain application is more likely to be evolutionary rather than revolutionary in developing countries like China," the analysts said. "Aside from the conservative regulatory attitudes toward financial innovations, the constraint of confidentiality and performance of blockchain technology would make it best positioned to be enterprise-oriented rather than consumer-end."

Bubbles Burst

Whether it’s Holland’s tulip-bulb craze in the 17th century or the Internet-stock frenzy of the late 1990s, history shows that markets self correct. Speculative markets usually run out of steam at some point. Determining the trigger is always the hard part. Given the breathtaking run in bitcoin as of late, some say it’s tough to believe the oft-cited mantra that this time is different.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 30, 2017, 04:09:20 PM

2017-05-30 14:55





Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on May 30, 2017, 06:27:54 PM

Bitcoin is outperforming major assets but hedge funds are still staying away from the cryptocurrency
Bitcoin's price has rallied as much as 180 percent this year but hedge funds are still nervous about investing.
One hedge fund veteran told CNBC that the industry doesn't "know enough about it".
But there has been rising interest from investors in other bitcoin products on the market.
Gemma Acton   | Arjun Kharpal
3 Hours Ago
Bitcoin hit an all-time high last week, marking a year-to-date rally of 180 percent and potentially stellar returns for those who bet on the cryptocurrency, but it appears hedge funds are still not ready to touch the asset class.

The lighter supervision and more sophisticated client base enjoyed by hedge funds, as well as their ongoing search for market-beating alternative sources of return, provide just some reasons why such vehicles would be expected to venture more boldly into the booming but narrowly understood market for cryptocurrencies.

Indeed, bitcoin's rally has far outpaced the S&P 500 index, which is up 7.9 percent year-to-date, and the NASDAQ which has seen around a 15 percent rise. In the currency space, the euro has risen nearly 6 percent year-to-date against the dollar, while sterling is up around 4.2 percent. The euro and pound are the best performing major currencies so far this year.

Yet aside from dedicated vehicles set up with a sole or majority focus on trading cryptocurrencies, many hedge funds are still very reluctant to dip a toe into the asset class.

"To be honest, I just don't know enough about it," said a 16-year hedge fund portfolio manager veteran, who preferred to remain anonymous because he didn't want to publicly reveal investment strategy. This reflected the view of several people whom CNBC spoke to via phone and in person. Restrictive investment guidelines set internally was another reason cited by multiple managers.

Hedge funds' reluctance to invest really boils down to concerns over volatility, security and perception, according to Louis Gargour, founder of alternative asset manager LNG Capital.

 People attend a Bitcoin conference in New York. (File photo).   Here are three big risks to the bitcoin rally: Trader 
Thursday, 25 May 2017 | 5:30 PM ET | 04:25
"Bitcoin's extreme volatility doesn't sit well with managers working on a risk-adjusted return basis. Furthermore, there are valid concerns that digital currency assets can be hacked or stolen. Finally, there's a perception that bitcoin remains a niche, retail investment that does not yet demonstrate sufficient quality to be seriously considered for many reputable institutions," says Gargour who has 25 years' of corporate bond experience and had experience at several of the biggest Wall Street names before starting his own fund.

There's also the issue of reassuring investors, added Gargour, who says clients are vastly more comfortable with knowing their money is invested in tangible or institutionalized assets, such as gold or equities.

A catalyst which could change the way cryptocurrencies are perceived and potentially open the floodgates for more hedge fund money is if the largest global banks provide services such as settlement for them.

"Clearing banks need to adopt these crytocurrencies as payment methods to pique widespread institutional interest," suggested Gargour, adding that its ease of transfer could indeed make it a preferable alternative for banks to the cumbersome process of wiring money.

With the firmer reassurance of such institutional backing, cryptocurrencies could then look more interesting to a broader investor base as potentially an alternative source of available credit risk.

Rising investment interest

Despite the current reluctance for hedge funds to get involved with bitcoin, there's a growing move to try to open up the cryptocurrency world to institutional investors. Cameron and Tyler Winklevoss, known for their lawsuit against Facebook founder Mark Zuckerberg, have been trying to get regulatory approval for a bitcoin exchange-traded fund (ETF). The U.S. Securities and Exchange Commission rejected the initial application but is now reviewing the decision after an appeal. If such a product were approved, it could make bitcoin more palatable for hedge funds to invest.

A stack of bitcoins stand on top of U.S. one dollar bills.
Chris Ratcliffe | Bloomberg | Getty Images
For now, there are ways to trade bitcoin through investment products. Companies like Global Advisors have a bitcoin fund that is listed on The International Stock Exchange on the Channel Islands (an archipelago in the English Channel), and Daniel Masters, a director at the company said that there has been rising interest from investors.

Global Advisors also has two exchange-traded notes (ETNs) listed on the NASDAQ OMX in Sweden. These allow people to buy a product that tracks the bitcoin price. Masters said that there has been large interest from major brokers buying the ETN on behalf of clients, showing a rising interest in bitcoin investment products.

"The interest is just going stratospheric," Masters told CNBC in a recent phone interview.

"If you look at the brokers we are now getting to participate, it's coming from over a dozen different sources."
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 01, 2017, 07:04:17 AM

Bitcoin could hit $100,000 in 10 years, says the analyst who correctly called its $2,000 price
Bitcoin could make up 10 percent of the $5 trillion average daily volume in the foreign exchange market in 10 years, according to Saxo Bank analyst Kay Van-Petersen.
Its market capitalization could grow to $1.75 trillion which would make each bitcoin worth $100,000.
Arjun Kharpal   | @ArjunKharpal
17 Hours Ago
 Bitcoin could hit $100,000 in 10 years, says the analyst who correctly called its $2,000 price   Bitcoin could hit $100,000 in 10 years, says the analyst who correctly called its $2,000 price 
9 Hours Ago | 01:02
Bitcoin's price has the potential to hit over $100,000 in 10 years, which would mark a 3,483 percent rise from its recent record high, an analyst who correctly predicted the cryptocurrency's rally this year told CNBC on Tuesday.

In December, Saxo Bank published its annual report called "Outrageous Predictions" with one of the forecasts calling for bitcoin to hit $2,000 in 2017. At the time the note was published, bitcoin was trading at around $754, so the target price represented a 165 percent rise. Bitcoin hit $2,000 on May 20.

But now, Kay Van-Petersen, the analyst behind the call, is looking long term and sees a big rise ahead for bitcoin.

How will bitcoin hit $100,000

Here's how he came up with his price target in 10 years.

Van-Petersen is assuming cryptocurrencies in general – not just bitcoin – will account for 10 percent of the average daily volumes (ADV) of fiat currency trade in 10 years. Foreign exchange ADV currently stands at just over $5 trillion, according to the Bank for International Settlements.

Ten percent of $5 trillion is $500 billion. This is the ADV that cryptocurrencies could have. Bitcoin will account for 35 percent of that market share, which would that $175 billion of the $500 billion figure, he said. This would mean that $175 billion worth of bitcoin would be traded every day

Getty Images
Also, Van-Petersen then implies that bitcoin's market capitalization would be ten times the average daily volume, giving a figure of $1.75 trillion for the market cap. The current figure is around $37.8 billion, according to data from industry website CoinDesk.

Bitcoin has a limited supply of 21 million which is expected to be reached by the year 2140. In 10 years, the analyst thinks that there will be 17 million bitcoin in circulation, up from the current 16.3 million figure.

If the potential 17 million of bitcoins in supply is divided by the $1.75 trillion market cap estimate, then each bitcoin would be worth just over $100,000.

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Bitcoin 'not a fad'

Van-Petersen – who owns bitcoin – emphasizes that this is a rough calculation but that his growth predictions could be "conservative" given that in the year 2013 alone, bitcoin's price grew over 5,000 percent. The analyst said that cryptocurrencies will survive in the long run.

"This is not a fad, cryptocurrencies are here to stay," Van-Petersen told CNBC in a phone interview.

"There will emerge two to three main ones. Bitcoin will be one of those. And the reason is the first-mover advantage, the scale and the pioneering."

 Bitcoin surges 11% to all-time high above $2,700; Has now doubled in May   Bitcoin surges 11% to all-time high above $2,700; Has now doubled in May 
Thursday, 25 May 2017 | 11:20 AM ET | 00:35
Van-Petersen's views are not the official view of Saxo Bank, the analyst said.

Bitcoin's bad reputation

The bitcoin industry has had its fair share of problems and reputational damage. The digital currency has often had an image of being used for illegal means such as buying drugs online. The collapse of Mt.Gox in 2014, once the world's largest bitcoin exchange, is still fresh in the minds of users. Some members of the exchange are still waiting for compensation.

More recent issues include some exchanges not allowing people to withdraw their money in fiat currency. On top of this, the view of bitcoin as a currency for criminals is still prevalent after the major WannaCry ransomware cyberattack saw hackers lock peoples' files and ask for bitcoin in exchange to unlock them.

Still, Van-Petersen says that the industry is still extremely young and big improvements will come. A few factors will boost bitcoin adoption including better wallets, easier methods to buy the digital currency, use of it for money transfers in areas like remittances, as well as citizens of countries with volatile economies and currencies buying it.

"Volumes are going up, volatility is going down. A lot of people talk about the volatility, but if you are in Zimbabwe or Venezuela, this volatility is nothing. This is the interesting thing to me. I think in the West, a lot of people view it is as speculative, but emerging markets will get it, their needs will be different," Van-Petersen added.

While Van-Petersen is offering one way to value bitcoin in the future, others say that there are other factors to take into consideration.

"It's one way of slicing the pie to try and predict future prices which always relies on a lot of assumptions," Charlie Hayter, CEO of industry website CryptoCompare, told CNBC by email.

"Equating volumes to price value is one method of attempting a valuation, but it doesn't take into account the fundamentals of the ecosystem."

The fundamentals of what bitcoin is capable of from a technical point of view and how regulation is molded around its use will determine its value too, Hayter added.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 02, 2017, 03:50:46 PM

Business NewsHome > Business > Business News
Friday, 2 June 2017 | MYT 3:12 PM
Fretting over savings, Mrs Watanabe turns to bitcoin

TOKYO: Long the preserve of geeky enthusiasts, bitcoin is going mainstream in Asia, attracting Mrs Watanabe - the metaphorical Japanese housewife investor - South Korean retirees and thousands of others trying to escape rock-bottom savings rates by investing in the cryptocurrency.

Asia's moms and pops, already regular investors in stock and futures markets, have been dazzled by bitcoin's 100% surge so far this year. In comparison, the broader Asian stocks benchmark has gained 17% over the same period.

Even after a tumble from last week's record US$2,779.08 high, bitcoin rose more than 60% in May alone - driven higher in part by investors in Japan and South Korea stepping in as China cooled after a central bank crackdown earlier this year.

Over the last two weeks, and encouraged by Japan's recognition of bitcoin as legal tender in April, exchanges say interest has jumped from the two countries. Bitcoin trades at a premium in both, due to tough money-laundering rules that make it hard for people to move bitcoin in and out.

"After I first heard about the bitcoin scheme, I was so excited I couldn't sleep. It's like buying a dream," said Mutsuko Higo, a 55-year-old Japanese social insurance and labour consultant who bought around 200,000 yen (US$1,800) worth of bitcoin in March to supplement her retirement savings.

"Everyone says we can't rely on Japanese pensions anymore," she said. "This worries me, so I started bitcoins."

Asia has proved fertile ground for bitcoin due to the region's thriving retail investment culture, where swapping investment tips is already common. China, Japan and South Korea are home to several of the world's busiest cryptocurrency exchanges, according to a ranking by CoinMarketCap.

"Right now, it's a form of speculation, like stocks," said Park Hyo-jin, a 27-year-old South Korean who owns around 3 million won (US$2,700) of bitcoin. "I don't think anybody in South Korea buys bitcoin to use it."

The risks, though, are rising too. Bitcoin is largely unregulated across Asia, while rules governing bitcoin exchanges can be patchy.

In Hong Kong, bitcoin exchanges operate under money service operator licences - like money changers - while in South Korea they are regulated similar to online shopping malls, trading physical goods. Often there are no rules on investor protection.

Park and Higo were drawn into bitcoin by friends. Others are attracted through seminars, social media groups and blogs penned by amateur investors.

Noboru Hanaki, a 27-year-old Japanese web marketer and bitcoin investor, said his personal finance blog gets around 30,000 page views each month. The most popular post is an explanation of bitcoin, he said, noting that when the bitcoin price surged last month, readership of the article doubled.

Rachel Poole, a Hong Kong-based kindergarten teacher, said she read about bitcoin in the press, and bought five bitcoins in March for around HK$40,000 (US$5,100) after studying blogs on the topic. She kept four as an investment and has made HK$12,000 tax-free trading the fifth after classes.

"I wish I'd done it earlier," she said.

Not everyone's making money.

The bitcoin frenzy has spawned scams, with police in South Korea last month uncovering a US$55 million cryptocurrency pyramid scheme that sucked in thousands of homemakers, workers and self-employed businessmen seduced by slick marketing and promises of wealth.

Seminars in Tokyo, Seoul and Hong Kong promote similar multi-level marketing schemes that require investors to pay an upfront membership fee of as much as US$9,000. Members are encouraged to promote the cryptocurrency and bring in new members in return for some bitcoins and other benefits.

One such Tokyo scheme offered members-only shopping websites that accept bitcoin, 24-hour assistance for car and computer problems, and bitcoin-based gifts when a member gets married, has a baby - or even dies, according to marketing materials seen by Reuters.

Leonhard Weese, president of the Bitcoin Association of Hong Kong and a bitcoin investor, warned amateur investors against speculating in the digital currency.

"Trading carries huge risk: there is no investor protection and plenty of market manipulation and insider trading. Some of the exchanges cannot be trusted in my opinion."

Some larger exchanges have voluntarily adopted security measures and compensation guarantees, according to their websites, although there are dozens of smaller platforms operating more or less unchecked.

In South Korea, the Financial Services Commission (FSC) has set up a task force to explore regulating cryptocurrencies, but it has not set a timeline for publishing its conclusions, an official there said.

In Japan - where memories are still fresh of the spectacular 2014 collapse of Mt. Gox, the world's biggest bitcoin exchange at the time - the Financial Services Agency (FSA) said it supervises bitcoin exchanges, but not traders or investors.

"The government is not guaranteeing the value of cryptocurrencies. We are asking for bitcoin exchanges to fully explain the risk of sharp price moves," an FSA official said.

Some professional investors say bitcoin can be a useful hedge to help diversify a portfolio, but investors should be cautious.

"This is an extremely volatile and innovative asset class," said Pietro Ventani, managing director of APP Advisers, an asset allocation strategy firm. - Reuters

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 03, 2017, 09:20:44 PM

What is blockchain? CNBC explains staff   | @CNBC
18 Hours Ago
    What is Blockchain? 
Thursday, 30 Mar 2017 | 2:13 PM ET | 04:44
If you've heard of bitcoin, you've probably also heard of the technology underlying it: The blockchain.

A blockchain is a global online database that anyone with an internet connection can use. Unlike traditional databases — which are typically owned by big institutions — a blockchain doesn't belong to anyone; and with an entire network of people monitoring it, cheating the system by faking documents, transactions and other information is nearly impossible.

Curious to know how it works? Watch CNBC's Tom Chitty explain it.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 08, 2017, 06:52:08 AM

年涨两倍 再触新高
472点看 2017年6月7日



















作为回应,投资者开始增持比特币,包括廉价航空Peach、能源公司Nippon Gas Co.在内的多家日本企业,也开始接受比特币支付。


Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 11, 2017, 06:37:43 AM

NationHome > News > Nation
Saturday, 10 June 2017 | MYT 5:25 PM
Bitcoin users told to be vigilant of cyber attacks


SERDANG: Following the recent ''WannaCry'' ransomware cyber attack, which blackmailed computer users worldwide, those dealing in digital currencies such as Bitcoin need to be more vigilant and keep their accounts secure.

Network security expert Assoc Prof Dr Zuriati Ahmad Zukarnain said although Bitcoin operates using two key types - public and private - to make transactions, the private key could be hacked by third parties using highly capable quantum computers.

"Quantum computers are able to create a 'large factorisation' and can detect the public and private keys used in Bitcoin transactions.

"The threat is when the 'private key' is sniffed by third parties, they are free to make transactions using a hacked account as the 'private key' proves the ownership of a Bitcoin address (used to send and receive the currency)," she told Bernama.

Last month, the "WannaCry" ransomware affected hundreds of thousands of users worldwide, locking access to the files on their computer, and then requesting Bitcoin payments to unlock them.

Zuriati said the Bitcoin's private key was used to keep safe the Blockchain, a public digital database which keeps records on all bitcoin transactions.

Zuriati, a lecturer at Universiti Putra Malaysia's Communication Technology and Networking department, said if the third party managed to hack the private key, they could have access to the value of Bitcoin in a hacked account.

She said studies showed that the use of digital currency had become popular in Malaysia as payment transactions were more convenient than using credit cards, besides being secure, fast and cheap.

In an effort to enhance the safety of Bitcoin, Zuriati said the Russian Quantum Centre had suggested that each account's blockchain is coupled with Quantum Key Distribution (QKD) and ''post-quantum cryptography''.

In this way, she said the ''peer-network'' architecture used in Bitcoin system would be more secure, thus preventing the private key from being stolen by third parties.

The Bitcoin currency was created by a computer expert using the pseudonym Satoshi Nakamoto, and it operates independently of any central bank, allowing transfers by electronic means without middlemen for free.

While the value of currency is typically backed with gold or silver, Bitcoin is backed with mathematical calculations.

The currency has become popular because central banks of countries cannot control a person's financial affairs, and it has become one of the preferred mode of transactions for small businesses

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 12, 2017, 02:48:33 PM


Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 12, 2017, 02:59:25 PM

 IN 2008, 1 USD=1300 BITCOIN

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 12, 2017, 06:07:42 PM

 IN 2008, 1 USD=1300 BITCOIN


In 9 yrs,

1US$ investment in bitcoin is

3.9 mil US$ now.

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 12, 2017, 06:37:55 PM

Bitcoin bulls runs wild as cryptocurrency surges above $3,000
Bitcoin traded above $3,000 for the first time, helped by increased demand from Asia-based investors.
The cryptocurrency climbed to an all-time high Sunday of $3,012.05, according to CoinDesk.
Bitcoin has now more than tripled in value since trading at $968 on Dec. 31, and has gained nearly 30 percent in June alone.
Evelyn Cheng   | @chengevelyn
12 Hours Ago
 These are the unexpected winners of the cryptocurrency craze   These are the unexpected winners of the cryptocurrency craze 
Friday, 9 Jun 2017 | 5:55 PM ET | 01:40
Bitcoin traded above $3,000 for the first time on Sunday, continuing this year's massive surge and helped by increased demand from Asia-based investors.

After trading in a range for the last week, bitcoin climbed to an all-time high Sunday of $3,012.05, according to CoinDesk.

On Chinese exchanges such as BTCC, the currency traded about $40 to $60 above that price. Last week, several major Chinese bitcoin exchanges allowed customers to resume withdrawals of the cryptocurrency, after halting withdrawals in early February amid scrutiny from the People's Bank of China.

Source: CoinDesk

The digital currency has had a stellar year, rising by more than 200 percent and easily outperforming stock market benchmarks like the S&P 500 index and the Nasdaq composite in 2017. The cryptocurrency has now more than tripled in value since trading at $968 on Dec. 31, and has gained nearly 30 percent in June alone.

Bitcoin in 2017

Source: CoinDesk

Brian Kelly, CEO and founder of BKCM and a CNBC contributor, told CNBC this week that the cryptocurrency was "in the first years of what is likely to be a multi-year bull market. Of course there will be corrections and even crashes along the way, but bitcoin is here to stay."

A contributing factor to bitcoin's recent surge is growing demand from Asia. In addition to the China factor, Japanese interest has risen ever since the government approved bitcoin as a legal payment method in April.

Investors also plowed more money into the currency after Minneapolis Federal Reserve President Neel Kashkari commented on the blockchain technology behind bitcoin, saying it "has more potential than bitcoin itself."

—CNBC's Fred Imbert contributed to this report.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 12, 2017, 06:39:46 PM

Bitcoin hits $1,000 for the first time
by Adrianne Jeffries  Nov 27, 2013, 10:49am EST
bitcoin 1020 (casascius)
The virtual currency Bitcoin, a decentralized form of money that approximates cash on the internet, has never been worth more. The price of a single bitcoin has soared above $1,000 on Mt. Gox, one of the main exchanges where the currency is bought and sold. As of this writing, the price is $1,020 on Mt. Gox but is averaging closer to $945 on other exchanges. This means the total market is worth around $11.4 billion.

Bitcoin has seen several massive price hikes before which were all followed by crashes to varying degrees, but this is the most extreme yet. The valuation comes as several major events have boosted confidence in Bitcoin's viability as a universal currency. Those include the closure of Silk Road, the illegal drug bazaar that initially gave the currency a bad name; the currency's first Congressional hearing; and its rising popularity in China.


The market price of Bitcoin over the last 60 days. (

The currency has also attracted investors from Silicon Valley and elsewhere, who are putting real-world money into Bitcoin-related startups in addition to buying it up themselves.


The price was around $200 on October 27th, meaning the currency has increased almost five times in value in just one month. Sound like a bubble inflated by greedy speculators? It probably is. But that doesn't mean the four-year-old experimental currency won't be around for a long time.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 12, 2017, 06:42:53 PM

Business in the age of Ethereum
Business in the age of Ethereum
 Blockchains are the new Linux, not the new internet
Blockchains are the new Linux, not the new internet
 Even the world’s largest bitcoin exchange couldn’t handle this week’s cryptocurrency boom
Even the world’s largest bitcoin exchange couldn’t handle this week’s cryptocurrency boom
Browse more...
 mt.gox  money  bitpay
Bitcoin just surged past $2,000 for the first time
Posted May 20, 2017 by Jon Russell (@jonrussell), Fitz Tepper (@fitztepper)
Next Story

The world’s most popular cryptocurrency is now worth over $2,000 per coin.  That’s according to a range of bitcoin exchanges, including Coinbase and Kraken. That valuation puts the total market cap of bitcoin — the total number of coins in circulation — at $32.92 billion.

Bitcoin has been on a tear this year, as this chart from Coindesk shows.

Bitcoin first broke the $1,000 valuation mark way back in 2013, but a combination of factors — including the implosion of then-top exchange Mount Gox — saw the currency drop in value. Support from financial institutions trialed bitcoin and blockchain-based services, and a general stability following new regulation in China, saw bitcoin return to the $1,000 mark again at the end of last year. Since then, its valuation has continued to grow consistently through 2017.

When we wrote about bitcoin (and ethereum) hitting all-time highs back at the end of April, you could buy a bitcoin coin for $1,343. Now, some three weeks later, the valuation is up 50 percent. The price of a coin rose 12 percent over the past week alone.

But bitcoin isn’t the only cryptocurrency on the rise. Ripple, the centralized currency that is aiming to be a settlement protocol for major banks, has surged more than 10x, or 1000% in under a month making it now the second most valuable cryptocurrency (only behind bitcoin) in circulation.

Similarly, ethereum, a cryptocurrency designed to function as a blockchain-based computing platform for developers, is now trading $130 per coin with a total market cap of just under $12B, which represents a a little more than a 2x increase over the last month.

The result of these increases is that bitcoin no longer constitutes the majority of the market cap for all cryptocurrencies. Today the total market cap of bitcoin represents just 47% of total cryptocurrencies – up until a few months ago it consistently hovered around 80%.

Why have these other cryptocurrencies been performing so much better than bitcoin? Some say it’s because of bitcoin’s scaling issue. The currency has grown so large that the network is having trouble quickly confirming transactions unless users attach hefty fees for minors. And while the problem can be fixed with solutions like SegWit or Bitcoin Unlimited, the most powerful miners (who effectively control the codebase of bitcoin) haven’t been able to come to a consensus on which new protocol to implement.

While increases of 10x in a month would typically be an obvious sign of a bubble, it’s a little different with cryptocurrencies because no one really knows how much they should be worth. Unlike a company there are no assets or revenues we can use to assess a predictable valuation. So in one sense, a total cryptocurrency market cap of $70B is insane – considering there is no tangible value behind it.

But on the other hand, if (any of) these cryptocurrencies actually replace or supplant a global store of value like gold, then $70B is nothing. For example, the total estimated value of all gold mined is around $8.2 trillion USD. Meaning that right now all cryptocurrencies put together don’t even equal 1% of the world’s gold reserves. Similarly, there is currently about $1.5 trillion USD in circulation, meaning that all cryptocurrencies today are still worth less than 5% of USD in circulation.

The currency is in unchartered waters at $2,000, but some * believe it has the potential to reach $10,000 (or more). To achieve this the community would likely have to sort out the scaling issue, which would give investors confidence that bitcoin’s infrastructure be able to support it as it grows.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 13, 2017, 06:38:49 AM

Monday, 12 June 2017 | MYT 6:44 PM
Bitcoin price triples since start of year to break through US$3,OOO
The price hit an unprecedented US$3,108, three times the US$985 it was worth early this year.
The price hit an unprecedented US$3,108, three times the US$985 it was worth early this year.
HONG KONG: The price of bitcoin recorded a new high, soaring to break through US$3,000 on Monday, buoyed by rising enthusiasm for the world’s most popular cryptocurrency.

The price hit an unprecedented US$3,108, three times the US$985 it was worth early this year.

Trading of the virtual currency in China picked up again after the country’s major bitcoin exchanges officially resumed withdrawal services in June.

Volumes in China rebounded to above 30 per cent of all global bitcoin trading on Monday from about 10 per cent in late May, but still far below the 80 per cent it accounted for a year ago.

“Bitcoin trading in China started to become active again after the cryptocurrency trading platforms resumed withdrawals this month,” said Xiao Lei, a bitcoin expert and chief analyst with online gold trading platform G-banker. “The resumption triggered a short-term price rally.”

OKCoin, China’s largest bitcoin exchange, officially resumed withdrawals for its traders on May 31. Huobi and BTCC, other major bitcoin exchanges in the mainland, followed suit by announcing the coin withdrawals would again be available for all of their users.

The price rebounded, jumping to US$2,400 immediately after the announcement.

In February, China’s three largest bitcoin exchanges put a stop to withdrawals of the cryptocurrency as the government took measures to cool the market after the unprecedented price rally.

“I think the easing of China’s regulation [the resumption of withdrawals] is one of the factors to drive the digital currency price to jump above US$3,000,” said Xiao.

“However, I believe the participation of global cryptocurrency enthusiasts, especially those from developed countries such as Japan and Korea, contribute much to the robust rise of the bitcoin price.”

The price climbed above US$2,000 for the first time in Japan in late May and the country’s trading volume accounted for 50 per cent of the global total.

The market was buoyed by increasing demand from Japanese investors when BITPoint Japan, the company behind Peach Aviation, announced it would accepted bitcoin for ticket purchases and planned to allow other Japanese retailers to accept the digital currency.

However, the Japanese government has also tightened the rules, stipulating that bitcoin exchanges should register with the state and comply with know-your-customer and anti-money-laundering regulations after the price rally.

“I do not see any sign of traders’ appetite for the digital currency abating and the price of bitcoin may remain robust if more and more overseas investors become involved in the industry,” said Xiao.

“The biggest uncertainty in this industry is the possible tightening of rules by China’s government, who always take measures to curb the overheated market.” - South China Morning Post

Read more at$3ooo/#QFzSWO5rAEQtA8Hu.99
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 14, 2017, 07:01:52 AM

财经 > 国际 > 比特币如坐过山车 首破3000美元后骤挫
372点看 2017年6月13日








Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 16, 2017, 06:59:15 AM

Can gold investors ignore the hype and emotion? See Cycle of Emotions chart - Hope phase now ...

The Fed is Pulling the Plug On the Market (For Now)
by Phoenix Capital... - Jun 15, 2017 9:25 AM
What you or I think about this doesn’t matter: we’re not in charge of Fed policy.

Bitcoin Plunges To 2-Week Lows On Triple-Whammy Of Concerns

Tyler Durden's picture
by Tyler Durden
Jun 15, 2017 8:32 AM
After ralying over 80% in the last month, Bitcoin prices are tumbling (down 25% from record highs to 2-week lows) as cryptocurrencies face uncertainty on three fronts.



As iBankCoin reports, investors are spooked over recent cyberattacks, uncertainty surrounding a Bitcoin platform upgrade, and proposed legislation which adds cryptocurencies a list of reportable assets under existing anti-money laundering laws.

Cyber attack

As CNBC reports, major bitcoin exchanges were hit with multiple cyberattacks this week. Bitfinex, the largest U.S. dollar based bitcoin exchange, announced it was under ‘distributed denial-of-service’ attacks (DDOS) which slowed the service down.  The attacks come at a time when consumer interest in bitcoins have also led to heavier than normal traffic on the exchanges, compounding the attacks.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 16, 2017, 11:28:45 AM

主页 > 财经 > 国际 > 比特币大起大落 价格暴跌18%
371点看 2017年6月16日







Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 19, 2017, 06:42:36 AM



In relief rally, bitcoin jumps more than 20% from June low
In less than three days, bitcoin bounced more than 20 percent from its low of the month.
Developers appeared to reach some agreement on a technological upgrade that threatened to divide bitcoin in two.
Bitcoin remains more than 150 percent higher year-to-date.
Evelyn Cheng   | @chengevelyn
Saturday, 17 Jun 2017 | 4:29 PM ET
Denarium Bitcoins.
Adam Jeffery | CNBC
Denarium Bitcoins.
Bitcoin quickly bounced back from the lows of June, amid improved sentiment about the future of the digital currency.


Bitcoin traded higher Saturday near $2,680, up more than 20 percent from a June low of $2,185.96 hit Thursday that had erased gains for the month, according to CoinDesk.

Worries about overexuberance in digital currencies overall and heated debate among developers about how to upgrade bitcoin's technology weighed on its price.

"A proposal was accepted to merge the two upgrade methods, making them compatible," Brian Kelly, a CNBC contributor and founder of BKCM, which runs a digital assets strategy, said Friday. "So we have seen a relief rally on this progress."

Kelly added that the latest development "reduces the threat of a coin split, but we are not out of the woods yet. The miners still need to agree to this merged upgrade."

Bitcoin one-week performance

Source: CoinDesk

Bitcoin development fight

Bitcoin's future relies on a network of developers, who have announced two incompatible methods for upgrading the digital currency system: BIP148 and SegWit2x. Both are set to go into effect later this summer, and their potential for dividing bitcoin in two has ramped up uncertainty among investors.

This week, a developer named James Hilliard announced a proposal that would make the two upgrades compatible, and SegWit2x developers said Friday they would adopt Hilliard's idea, according to Bitcoin Magazine.

Bitcoin remains more than 150 percent higher year-to-date, while another digital currency called ethereum has skyrocketed more than 4,000 percent this year and came closer this week to topping bitcoin in market value.

A slew of other major events in the digital currency world rocked bitcoin as well after it topped $3,000 for the first time last Sunday.

Adding to worries of overexuberance, money flooded cryptocurrencies as Bancor raised a record $153 million Monday in a process called an "initial coin offering." Separately, IOTA began trading Tuesday on Bitfinex in a record debut that sent its market value to $1.5 billion.
Meanwhile, the largest U.S. dollar-based bitcoin exchange Bitfinex and a smaller BTC-e exchange reporteddistributed denial-of-service, or DDoS, attacks.
Wall Street took note of bitcoin's meteoric rise this week, with Morgan Stanley issuing a report on bitcoin's blockchain technology and Goldman Sachs saying in a technical analysis of bitcoin's price that it should fall slightly.
Evelyn Cheng CNBC
Evelyn Cheng
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 23, 2017, 08:27:29 PM

Trump: Mueller And Comey's BFF Status 'Very Bothersome'
by ZeroPointNow - Jun 23, 2017 1:08 AM
"The point is this - he's not independent"

The Left Melts Down After Trump Declares: 'There Are No Comey Tapes'
by The_Real_Fly - Jun 22, 2017 10:56 PM
The biggest meltdown since Trump took two scoops.
Former State Dept And CIA Employee Arrested, Charged With Federal Espionage
by ZeroPointNow - Jun 22, 2017 7:13 PM
"Your object is to gain information, and my object is to be paid."
Is Bitcoin Money?

Tyler Durden's picture
by Tyler Durden
Jun 23, 2017 5:00 AM
Authored by Valentin Schmid via The Epoch Times,

Up 158 percent against the U.S. dollar this year, bitcoin is now the best-performing currency. Many are confused as to how this mathematical protocol can be worth more than $2,600, and why it keeps going up. The short answer: Bitcoin is money, just a little better and cheaper than the alternatives.

If you don’t understand money, you cannot understand bitcoin. For most of us, money is the U.S. dollar, the fiat currency of the United States issued by the Federal Reserve and maintained by the commercial banking system.

But even this system is confusing. Most people don’t hold Federal Reserve notes anymore; they hold money in checking accounts or use their credit cards to buy things. This is electronic fiat money, stored on the servers of banks like JPMorgan Chase and Bank of America.

This type of money is a great medium of exchange. Because the state mandates the acceptance of fiat money by all commercial actors, you can pay everywhere with dollars and, as a bonus, the prices of consumer goods seldom change more than a few percent per year.

Other attributes that make the dollar useful as a medium of exchange are its divisibility, recognizability, and indestructability—at least in electronic form—and the ease with which it can be exchanged.


However, there is a problem with the dollar as a medium of exchange over time. Since the creation of the Federal Reserve in 1913, the dollar has lost about 95 percent of its purchasing power. This devaluation is hardly visible over the course of days, months, and even years, but it is painfully felt over the span of decades.

So it’s hard, if not impossible, to exchange the same value over time with the U.S. dollar, and investors need to expose themselves to other assets to protect purchasing power. This is a general problem of fiat currencies and bank money, which are both prone to mismanagement by the state and banks, mostly because they can be reproduced at will. More dollars chasing the same amount of goods leads to rising prices.

Value Over Time

This is the reason why people have traditionally resorted to gold to protect themselves from monetary inflation. Gold is also easily recognizable, divisible, durable, and concentrates a lot of value in little space. One troy ounce now costs about $1,250.

However, its uses as legal tender have been limited since the demise of the true gold standard at the beginning of the 20th century, and it is not easily transferred in physical form like the electronic dollar. Furthermore, its price is relatively volatile when measured in dollars in the short term, and the IRS collects tax on gains in dollars, making gold even less exchangeable.

But gold cannot be replicated at will and therefore is a better way of exchanging value over time. One dollar bought almost 20 bottles of Coca-Cola in the 1930s. It now buys less than one. One ounce of gold bought 700 bottles of Coke in the 1930s; it now buys almost 800.

Decentralized Electronic Money

Once one understands that money needs to be able to exchange value in time and space, it is easier to see why bitcoin is so attractive.

Although it cannot handle as many transactions as the banking system, it is relatively easy and cheap to transfer. Hundreds of thousands of businesses and individuals voluntarily accept bitcoin as payment. Its mathematical properties are recognizable, infinitely divisible, and indestructible.

As a medium of exchange, mainly because of legal tender laws, bitcoin is not as widely accepted as the dollar or other fiat currencies, but it is easier to transfer than gold and it is also subject to taxation.


In the long term, bitcoin has similar properties to gold because it cannot be replicated at will and the number of coins is limited to 21 million. This means that bitcoin is better than the dollar for transferring purchasing power through time.  It is similar to gold, although gold has a far longer track record.

Its decentralized management is another factor making it attractive for people who distrust fiat currency and the banks.

Cheap Alternative

Given that bitcoin is better than gold in the short term and much better than the dollar in the long term across the dimensions we have described, it’s not surprising that people chose to diversify their money holdings into this independent currency due to frustration with the mismanagement of fiat money and manipulation of gold prices.

There is another reason why bitcoin is attractive as a currency. Despite its record high in dollar terms, it is still cheap in aggregate. All Bitcoins are only worth $43 billion. All gold ever mined is worth around $7.5 to $10 trillion, although estimates vary. As for the U.S. dollar, just the M2 measure of bank money, including checking accounts, puts its worth at $13.5 trillion.

If bitcoin were to establish itself as an alternative currency and store of value alongside gold and the dollar, a total valuation of $1 trillion would not be inconceivable. That’s $47,600 per coin.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on June 29, 2017, 01:58:23 PM

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Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on July 01, 2017, 02:56:04 PM



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The puzzling rise of bitcoin

THE stratospheric rise in the price of bitcoin is fodder for conversation the world over.

Most people talking about it are puzzled by this phenomenon; wondering how real it is, how they have missed out on it, and whether a new great big bubble has been created only to soon explode. Others reckon that a sea change of currencies sans regulation is in the offing.

Seven years ago, one bitcoin was worth almost nothing at US$0.003. Today, that one bitcoin is worth more than US$2,500.

To put things in perspective, bitcoin’s value has multiplied 879,999 times since 2010.

So, what are people actually buying?

A bitcoin trader points out that many are looking to “hoard” bitcoins.

“Of course, you can spend bitcoins to purchase items at places where they are accepted. But a lot of traders are buying on speculation because the supply of bitcoin is limited,” the trader says.

There are 21 million bitcoins available, and so far, almost 70% of them have been “mined” from the Internet.

And because of the steep increase in bitcoin value, some associate it with the word “bubble”.

Billionaire investor Mark Cuban had said earlier this month that he thought bitcoin was in a “bubble”, yet he acknowledged then that there is value in the blockchain technology behind the digital currency.

One can perhaps relate the sudden hype surrounding bitcoin to “Tulipmania”, an episode in Dutch history in 1636-1637 where the price of tulip bulbs was propelled by speculators to dizzying heights.

Eventually, the bubble burst and the price of tulip bulbs crashed. The price collapsed not because of the high price of tulips, but because there was no intrinsic value in a tulip bulb.

To be sure, the bubble theory can be applied to all assets. Today, some commentators argue that global equities and the housing markets in some places are in bubble territory. The Dow Jones Index, for instance, has been hitting new highs in the last eight years.

In the case of bitcoin, it can actually be used to buy goods and services, although within limited scope. That scope is expanding. Traders of bitcoin argue that its attractiveness lies in the potential of it becoming a global currency, as well as the technology behind the cryptocurrency.

While banknotes or fiat money may not have intrinsic value, it is backed by governments and central banks that tend to exert control over the value of their currencies to keep it at desired levels. And that could be the reason why pure cash is not necessarily a good long-term investment.

Back in 2010, there was not much you could do with bitcoins. A famous example is the story of a university student who bought a pizza using 10,000 bitcoins.

Today, cryptocurrencies are starting to make their way into mainstream usage. A recent example is when the Japanese government announced that bitcoins are accepted as legal payment.

After the news broke, bitcoin’s price continued to hit new highs.

While the supply of bitcoin is limited (which explains its steep rise), it is not the only cryptocurrency available. There are more than 900 cryptocurrencies on the Internet. Many are being launched by initial coin offerings (ICOs), a process akin to an initial public offering of companies, minus all the regulation that comes with the latter. Cryptocurrency is decentralised digital money in cyberspace and not created by central banks.

Besides bitcoin, other increasingly popular cryptocurrencies include ethereum and litecoin.

Ethereum’s price has gone up more than 5,000% since the beginning of the year.

However, after peaking at US$391 in mid-June, the ethereum price has dropped more than 40% to US$291 a unit. In other words, cryptocurrencies tend to have volatile prices. Hence, it may not be the investment choice of everyone.

Going back to the story of Tulipmania, investors who had bought at the peak lost the most when the price came crashing down. Will the same happen with investors of cryptocurrencies?

It is hard to tell. The Economist recently wrote that ICOs could generate intriguing inventions and that fans hope that they will give rise to decentralised upstarts taking aim at today’s oligopolistic technology giants such as Amazon and Facebook.

However, the publication also said that this could be a dangerous way of generating innovation because of a potential crash in cryptocurrency prices. It balanced the view, though, with this: in the case of cryptocurrencies, such risks seem limited, as investors are aware of the risks and it is a fairly self-contained system, calling it a healthy bubble.

Related story:

The dawn of cryptocurrency

bitcoin , bubble , tulip

Read more at :D
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on July 01, 2017, 03:09:09 PM



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The dawn of cryptocurrency


Not regulated: An employee demonstrating the usage of a bitcoin automated teller machine (AT M) at BITPoint Japan Co headquarters in Tokyo. In Malaysia, the trading of bitcoins and other cryptocurrencies remains largely an unregulated activity. – Bloomberg
Not regulated: An employee demonstrating the usage of a bitcoin automated teller machine (AT M) at BITPoint Japan Co headquarters in Tokyo. In Malaysia, the trading of bitcoins and other cryptocurrencies remains largely an unregulated activity. – Bloomberg
Can bitcoin and ethereum challenge the traditional world of fiat currencies?

THEIR price may be volatile, they may be used by a few rogue elements and lack traceability, yet cryptocurrencies such as bitcoin are all the rage now.

Going by some reports, there are more than 900 cryptocurrencies based on blockchain technology today, but the market is led by the main ones such as bitcoin and ethereum.

Bitcoin has risen by some 771% over the last three years to hit an all-time high of US$2,871 recently. Notably, it started seven years ago at a value of almost nothing. Newcomer ethereum has seen its price spike by more than 5,000% year-to-date.

The interest of many Malaysians has been piqued, wondering if they should jump on the bandwagon. The talk is that there are a few Malaysians who have become bitcoin millionaires, as they had invested in them early. Some are bitcoin miners, a process of verifying transactions in the system, which pays in bitcoins.

But cryptocurrencies lie largely in a grey area of the law. Their actual usage is limited. So, why are people rushing to buy them?

“It is mostly (buying on) speculation and to some extent a hedging mechanism,” says an investor.

A much-written phrase on the Internet today is this: “If you bought US$5 of bitcoin seven years ago, you’d be US$4.4mil richer”. A single bitcoin was then worth a quarter-of-a-US cent.

Investors can buy these currencies through exchanges spread across the globe, including some in Malaysia.



One such exchange is called Luno, which describes itself as a global company with a local presence. On its website, it says you can buy bitcoins by transferring money into its Maybank or CIMB accounts. It provides a price list of its bitcoins and charges a fee to buy and sell bitcoins via its exchange.

Another is CoinHako, a Singapore-based cryptocurrency exchange that allows the trading of bitcoin and ethereum.

Its CEO and co-founder Yusho Liu says it started the exchange three years ago, after discovering that there was no easy way to trade in these currencies in this part of the world. Malaysian users can use the ringgit to purchase these cryptocurrencies on this exchange. CoinHako charges a fee of 0.9% for every transaction and RM2 for every withdrawal into ringgit or Singapore dollars, which will take two days to process. However, CoinHako places a trading limit of RM30,000 per user per day.

Liu says there are more than 10,000 Malaysian users of his exchange to date.

The app also allows users to use their bitcoins stored in the CoinHako wallet to buy goods and services in outlets where they are accepted.

Given that there are not that many outlets that accept bitcoins, Liu points out that a cafe called Jeq In The House in Section 17, Petaling Jaya, accepts bitcoins. The legality of these exchanges, though, is not clear.



In Malaysia, the trading of bitcoins and other cryptocurrencies remains largely an unregulated activity.

On Jan 2, 2014, Bank Negara issued this statement: “The bitcoin is not recognised as legal tender in Malaysia. The central bank does not regulate the operations of bitcoin.

“The public is therefore advised to be cautious of the risks associated with the usage of such digital currency.”

It has not issued further statements on the matter. This essentially means that Malaysians buying and selling bitcoins are doing so at their own peril. They have no claim against the authorities if the value of their bitcoins one day plummets, or the exchange in which they store their cryptocurrencies is shut down or gets hacked.Most countries have yet to determine the legality of bitcoin.

The philosophy behind cryptocurrencies

So, are bitcoins and cryptocurrencies a huge threat to traditional finance? To be sure, while a lot has been written about this digital currency, they still do not make up a huge amount of value. Bitcoin, the biggest of them, has a total market capitalisation of a mere US$42.3bil (RM181bil). In comparison, the market capitalisation of Malayan Banking Bhd alone is RM101bil, while Apple Inc’s market value is almost 18 times bigger than bitcoin’s at US$749bil.

There are some notable peculiarities about cryptocurrencies and the technology of blockchain that enables them.

For one, its creator and participants love the idea that this is a currency (if you can even call it that) that is solely based on the principles of supply and demand, minus the involvement of any central governing authority.

A second key aspect is that it is a secure set-up, the blockchain technology not only being immutable but also close to impossible to be hacked.



“My bet is that bitcoin is here to stay. It has been about eight years now, and no one has been able to hack it and no governing body has been able to shut it down,” quips one ethereum investor who spoke on the condition of anonymity.

Still, there is frenzied growth in cryptocurrencies. The total market capitalisation of cryptocurrencies now stands at around US$100bil and bitcoin’s market share has slipped down to around 40%.

Initial coin offerings (ICO) or new issuances of cryptocurrencies are spiking up, unnerving regulators.

This year alone, some 65 ICOs have raised US$500mil. There is at least one surfacing from Malaysia.

Some observers are beginning to draw parallels between the concept of ICOs and the many unauthorised investment schemes that have sprouted up in Malaysia which have been red-flagged by the central bank this year such as JJ Global Network, JJ Poor To Rich, JJPTR and MBI International Sdn Bhd.

But while some of these schemes had issued digital currencies, none of them operated on blockchain technology and thus cannot be said to be in the same category, cryptocurrency enthusiasts argue, adding that any digital currency not running on blockchain is open to manipulation by the issuers.

It has been reported that the US Securities and Exchange Commission is taking a hard look at the use of ICOs and how they might be a tool to circumvent securities laws.

Another troubling aspect of bitcoin is the increased reported usage of this currency by rogue elements. This is due to the anonymity element in its usage.

For example, the recent ransomware crisis impacting parts of the world saw its perpetrators demanding ransom in bitcoin. Other reports indicate payments for illegal goods and services that take place in the “dark web”.

The dark web is described as a part of the Internet only accessible through special software that allows users to remain anonymous and untraceable. It is also a place where a plethora of illegal transactions take place, such as the buying and selling of drugs.

“Anyone can use bitcoins, for good and for bad,” notes one investor, adding, however, that “so it is with other currencies such as your ringgit and US dollar”.

The difference then is the fact that illegal usage of a certain country’s currency enables that country’s authorities to take action. But no one presides over bitcoins and cryptocurrencies.

Another concern is the lack of anti-money laundering (AML) and know-your-customer (KYC) application in the buying and selling of bitcoins.

It is understood that a number of exchanges trading in bitcoins do try to implement this in their systems, but there is no standardisation of this and no central authority overlooking it.

Another concern is the unreported outflow of money. For example, a Malaysian buyer of bitcoins could cash out his bitcoins in an overseas exchange, and do so likely at a much higher value.

Bitcoin transactions are also tax-free at the moment, at least in Malaysia, considering that the authorities do not deem it a currency or an asset.

But some authorities are beginning to legitimise the use of bitcoin. Japan, for example, has recognised the cryptocurrency as a payment method, while the Philippines is recognising bitcoin exchanges as remittance companies.

Still, investing in the highly-priced bitcoin today takes some nerve. But consider this: an analyst called Kay Van-Petersen of Saxo Bank is now forecasting that the price of bitcoin could touch US$100,000 apiece in 10 years’ time.

It may seem outrageous, but Van-Petersen had in late 2016 (when the price of bitcoin was at the US$750 range) correctly predicted that the price would surpass US$2,000 in 2017.

The high price of bitcoin isn’t dissuading some investors. Ben Jern, a former radio DJ, has been actively investing in bitcoin and bought RM5,000 worth of the cryptocurrency when it was priced at around US$400 last year.

He sees investing in bitcoin as investing in technology. “I am making a bet that this technology will be widely used in the future. So, I’m not griping about its value and neither am I selling my bitcoins at these prices.”

Related story:

The puzzling rise of bitcoin

bitcoin , etherium , crytocurrency

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on July 01, 2017, 03:13:32 PM



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Tuesday, 20 June 2017
Bitcoin is digital gold – but will you buy a sandwich with it?

“The biggest thing is are people willing to pay in bitcoin?” Wu said. “The reality is that most of our customers are other businesses and other businesses don’t use bitcoin.”
“The biggest thing is are people willing to pay in bitcoin?” Wu said. “The reality is that most of our customers are other businesses and other businesses don’t use bitcoin.”
LONDON: For digital-marketing agency, taking bitcoin for payment was easy enough, all co-founder Roger Wu had to do was obtain a digital wallet. To promote the move in 2014, he even penned a blog post for Forbes explaining the decision.

The number of transactions the New York-based firm has made since? Zero.

“The biggest thing is are people willing to pay in bitcoin?” Wu said. “The reality is that most of our customers are other businesses and other businesses don’t use bitcoin.”

Even as the euphoria over bitcoin reached a fever pitch last week as the price surged to almost US$3,000, slow transaction times and inertia are helping to prevent it from achieving widespread usage. Adoption has slowed, according to Morgan Stanley, after a slew of companies from Microsoft Corp to Expedia Inc initially trumpeted its use, and hurdles remain when it comes to longer-term viability.

“We see few reasons for consumers to use bitcoin over a credit/debit card given that paying online with bitcoin represents a marginally more inconvenient way to pay,” Morgan Stanley analysts wrote in a 33-page report released on June 13. Processing costs for bitcoin and other digital currencies are likely to grow, they said.

Time Inc and Dell Inc said they’ve stopped accepting the cryptocurrency, with the computer maker citing low usage. When website content management system Wordpress stopped taking bitcoin in 2015, founder Matt Mullenweg said usage was “vanishingly small,” adding that it was initially incorporated for philosophical reasons, not commercial ones.

Still, there’s plenty of evidence the price surge has helped boost bitcoin’s use – albeit from a low base.

Payment processor BitPay said its now handling about US$2mil in transactions a day, up almost threefold from April 2016. Coinbase’s volume has doubled since the start of the year. Inc, an online discounter, said it’s been handling around 100,000 bitcoin transactions per week, up from about 30,000 when it first added the payment method in 2014.

Yet somewhat paradoxically, there’s the question of whether its status as a red-hot asset is compatible with being a stable method of payment.

There’s the issue of volatility. This year has seen bitcoin surge and plunge by as much as 19% over the course of a day. As transactions rise, processing them is also becoming slower and more expensive because of a cap on the data the bitcoin blockchain can process – an issue whose resolution has spurred bitter infighting within the development community.

And probably most importantly, bitcoin isn’t recognised as legal tender. The US Internal Revenue Service has ruled that bitcoins are property, while regulators treat it as a commodity.

Most big businesses take bitcoin through payment processors such as BitPay and Coinbase. When a consumer makes a purchase via those platforms, he or she will pay at a conversion rate based on the latest bitcoin price.

The processors then convert the bitcoin immediately and pass the fiat currency to the seller, essentially removing all exposure to bitcoin’s volatility.

For merchants, Coinbase charges nothing for the first US$1mil and 1 percent of transaction values afterward. That compares with Visa Inc’s roughly 2% interchange rate and almost 3% charged by PayPal Holdings Inc.

The process is more complicated for shoppers. Unless your digital wallet is already on the platform that’s processing the payment, transferring bitcoins incurs a transaction fee, which can vary depending on its size, how quickly you want it processed and network conditions.

The median transaction fee was US$2.10 on June 15, compared with an all-time high of nearly US$3 reached earlier this month, according to BitInfoCharts.

Sonny Singh, BitPay’s chief commercial officer, said bitcoin is more useful in emerging economies where trust in local currencies is weaker and credit cards are less cWhile greater usage remains in question, there are often some unexpected benefits for merchants who’ve embraced bitcoin.

Since the Roast of Sherwood added a Coinbase wallet six weeks ago, it has averaged five bitcoin or ether transactions each week, according to Lee Galloway, who runs the sandwich stall with his father in a bustling street market along London’s Whitecross Street.

“For a few small payments we’ve taken, it’s a large amount of publicity,” the 32-year-old said.

“If we’re taking large amounts of cryptocurrency payments, I’ll probably have to re-address and re-look at the entire issue, but I can’t imagine that happening any time soon.” – Bloomberg

Career , bitcoin

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on July 01, 2017, 03:15:09 PM



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Wednesday, 14 June 2017 | MYT 12:23 PM
Morgan Stanley says Bitcoin needs regulation to keep rising


NEW YORK: While Morgan Stanley is high on the blockchain technology that underpins bitcoin, analysts at the investment bank are a bit more cautious when it comes to the surge in the price of the virtual currency.

“The rapid appreciation of cryptocurrencies has elicited many inbound phone calls to both our banks and tech teams,” the firm wrote in a report titled 'Blockchain: Unchained’ that was released Tuesday.

“Possible explanations include investors in search of uncorrelated risk assets and technologists looking for incremental security. But governmental acceptance would be required for this to further accelerate, the price of which is regulation.” - Bloomberg
Markets , Bitcoin , cryptocurrencies

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on July 07, 2017, 08:12:10 PM



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Friday, 7 July 2017 | MYT 7:09 PM
Bitcoin can be an asset but not currency: China central bank adviser


Many governments around the world are still mulling how to regulate and classify bitcoin. — Reuters
Many governments around the world are still mulling how to regulate and classify bitcoin. — Reuters
SHANGHAI: Virtual currencies like bitcoin are assets but bitcoin in itself does not have the fundamental attributes needed to be a currency that could meet modern economic development needs, a Chinese central bank adviser said.

Sheng Songcheng, adviser to the People's Bank of China (PBOC), made the comments in an interview with financial magazine Yicai published late July 6.

"Bitcoin does not have the fundamental attributes needed to be a currency as it is a string of code generated by complex algorithms.... But I do not deny that virtual currencies have technical value and are a type of asset," he said.

His comments come after the Chinese central bank increased scrutiny of the country's bitcoin exchanges earlier this year, a move that prompted the companies to stop margin lending, introduced trading fees and issue rules to rein in users.

Many governments around the world are still mulling how to regulate and classify bitcoin, whose value surged in June to hit a record just shy of US$3,000 (RM12,894.90). China has classified it as a "virtual good".

Squaring in on bitcoin, Sheng said expectations that bitcoin supply would be capped in the year 2140 would make it difficult for it to become a medium of exchange that could meet modern economic development needs as money supply should be related to economic needs.

He also said that Chinese monetary authorities should study issuing a central bank virtual currency that it could regulate and run properly. — Reuters

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on July 12, 2017, 03:09:12 PM


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Will Bitcoin tear itself apart?

July 11, 2017 18:26 pm MYT

(July 11): It’s time for bitcoin traders to batten down the hatches.

The notoriously volatile cryptocurrency, whose 160 percent surge this year has captivated everyone from Wall Street bankers to Chinese grandmothers, could be headed for one of its most turbulent stretches yet.

Blame the bitcoin civil war. After two years of largely behind-the-scenes bickering, rival factions of computer whizzes who play key roles in bitcoin’s upkeep are poised to adopt two competing software updates at the end of the month. That has raised the possibility that bitcoin will split in two, an unprecedented event that would send shockwaves through the US$41 billion market.

While both sides have big incentives to reach a consensus, bitcoin’s lack of a central authority has made compromise difficult. Even professional traders who’ve followed the dispute’s twists and turns aren’t sure how it will all pan out. Their advice: brace for volatility and be ready to act fast once a clear outcome emerges.

“It’s a high-stakes game of chicken,” said Arthur Hayes, a former market maker at Citigroup Inc who now runs BitMEX, a bitcoin derivatives venue in Hong Kong. “If you’re a trader, there’s a lot of uncertainty as to what happens. Once there’s a definitive signal about what will be done, the price could move very quickly.”

Behind the conflict is an ideological split about bitcoin’s rightful identity. The community has bitterly argued whether the cryptocurrency should evolve to appeal to mainstream corporations and become more attractive to traditional capital, or fortify its position as a libertarian beacon; whether it should act more as an asset like gold, or as a payment system.

The seeds of the debate were planted years ago: To protect from cyber attacks, bitcoin by design caps the amount of information on its network, called the blockchain. That puts a ceiling on how many transactions it can process — the so-called block size limit — just as the currency’s growing popularity is boosting activity. As a result, transaction times and processing fees have soared to record levels this year, curtailing bitcoin’s ability to process payments with the same efficiency as services like Visa Inc.

To address this problem, two main schools of thought emerged. On one side are miners, who deploy costly computers to verify transactions and act as the backbone of the blockchain. They’re proposing a straightforward increase to the block size limit.

On the other is Core, a group of developers instrumental in upholding bitcoin’s bug-proof software. They insist that to ease blockchain’s traffic jam, some of its data must be managed outside the main network. They claim that not only would it reduce congestion, but also allow other projects including smart contracts to be built on top of bitcoin.

But moving data off the blockchain effectively diminishes the influence of miners, the majority of whom are based in China and who have invested millions on giant server farms. Not surprisingly, Core’s proposal, called SegWit, has garnered resistance from miners, the most vocal being Wu Jihan, co-founder of the world’s largest mining organization Antpool.

“SegWit is itself a great technology, but the reason it hasn’t taken off is because its interest doesn’t align with miners,” Wu said.

Still, after previous counter-proposals championed by Wu fell through, miners last month agreed to compromise and support SegWit, in exchange for increasing the block size. Wu says the plan will alleviate short-to-medium term congestion and give Core enough time to flesh out a long-term solution. That proposal is what is known as SegWit2x, which implements SegWit and doubles the block size limit.

“You can think of the SegWit2x proposal as an olive branch,” said Wu.

Support for SegWit2x has reached levels unseen for previous solutions. About 85 percent of miners have signaled they are willing to run the software once it’s released on July 21, and some of bitcoin’s largest companies have also jumped on board.

The unprecedented level of endorsement is partly prompted by anxiety of bitcoin losing its dominant status to ethereum, a newer cryptocurrency whose popularity has soared thanks to its ability to run smart contracts and its more corporate-friendly approach.

Still, hardliners say that after more than two years of bitter arguments, a split would let people part ways to explore different visions, even if prices crash.

Some of Core supporters are pushing a separate agenda called UASF (user activated soft fork). Starting from Aug 1, it will reject transactions not compliant with SegWit. If a majority of miners do not adopt SegWit by then, two versions of bitcoin would come into existence, triggering a currency split.

“It’s moderates versus extremists,” said Atlanta-based Stephen Pair, chief executive officer of BitPay, one of the world’s largest bitcoin wallets. “It depends on how much a person values the majority of people staying on one chain at least for a little while longer, versus splitting and allowing each pursuing their own vision for scaling.”

Many Core developers continue to reject SegWit2x because they see its development and implementation as being too rushed, which they say could undermine the software underpinning bitcoin.

“To suggest a hard fork happen significantly faster than even the most minor of changes in recent history is irresponsible and dangerous,” said Matt Corallo, a Core contributor and former co-founder of Blockstream, which stands to benefit from SegWit.

Below is an outline of the main events that could unify or divide bitcoin:

* By July 21: SegWit2x software is released and supporters begin using it.
* July 21 to July 31: The community monitors how many miners deploy SegWit2x:
* If more than 80 percent deploy it consistently, that should signal community-wide adoption of SegWit and the avoidance of a split, at least for now.
* But if a majority do not deploy, expect anxiety within the community to grow as the focus shifts to the Aug 1 deadline.
* Aug 1: UASF is deployed by its supporters, who begin checking if bitcoin transactions are compliant with SegWit.

If a majority of miners still do not deploy SegWit2x or otherwise accept SegWit, and if UASF supporters do not back down, then two versions of bitcoin’s blockchain could come into existence: a UASF-backed one where only SegWit transactions are recognized, and another where all trades — SegWit and non-SegWit — are recognized.

If a split occurs, bitcoin will likely begin existing on both blockchains in parallel, resulting in two versions of the cryptocurrency. Expect traders to quickly re-price the value of both, likely leading to massive volatility.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on July 21, 2017, 08:32:26 PM

【狂人預言】防毒之父John McAfee大膽預言:比特幣將在3年内升超50萬美元
【狂人預言】防毒之父John McAfee大膽預言:比特幣將在3年内升超50萬美元
By Presslogic on 20 Jul 2017

防毒之父John McAfee素來言行出位,而對於大熱的虛擬貨幣比特幣(Bitcoin)也有其一套獨特見解。他日前就在其個人Twitter上預測比特幣價格將會在3年内飆升至50萬美元。

Bitcoub's low of $1,800+ yesterday simply could not be maintained. In the long term Bitcoin moves above $500,000 within three years. Bets?
— John McAfee (@officialmcafee) 2017年7月17日


I have a doctorate in point-set-topology. It predicts BC at $2,431,013 in 3 years. other math systems - between $1,900,000 and $2,600,00.

— John McAfee (@officialmcafee) 2017年7月17日



BusinessFocus現長期徵稿。歡迎各投資界、商界人士、來稿交流對各種經濟、投資、物業、商業議題的獨特看法。如蒙投稿,請寄,另請附上不多於100字個人簡介及近照一張。 文章一經採用將由BusinessFocus編輯部潤飾,更會開設個人專欄。
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on August 06, 2017, 07:31:03 AM


比特幣再创新高 突破3000美元大关
財经 最后更新 2017年08月5日 17时44分
比特幣再创新高 突破3000美元大关

比特幣(Bitcoin)近年逐渐成为投机人士喜欢的平台,而且价格不断上升,,最近终於突破 3000 美元(1.2万令吉)关口,创下歷史新高!

在主要比特幣交易所如 Coinbase 和 Kraken 等网站,1 BTC 已经超越 3000 美元,而在 5 月的时候还只是 2000 美元(8555令吉),可见近月价格暴涨的幅度甚大。

据《TechCrunch》今次突破 3000 美元关口之后,比特幣的总市值已经超过 500 亿美元(2138.7亿令吉),相当惊人。


比特幣价格 首次超越黄金
4日 • 5月前
中国大妈出手  比特幣再飆升
20日 • 一年前
2日 • 一年前
9日 • 一年前
比特幣诈骗 3千港人损13亿
8日 • 2年前

由於现时每个比特幣的运算速度已经太慢,於是已经出现分支 「比特幣现金」(Bitcoin Cash)作为比特幣的分割化版本,使用同一个区块链(Blockchain)所以可以互换,不过暂时不是所有交易所都支援这个新幣种,其价格亦相当浮动,市场態度观望。






比特幣为中本聪在2009年发明的加密虚擬货幣,透过电脑运算(俗称「挖矿」/ Bitcoin mining)发行。由於其將交易数据纪录在区块链上,由成千上万台电脑(被称作节点)共同管理,因此和区块链一样具备透明、不可篡改、去中心等特性。



Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on August 08, 2017, 06:34:20 AM

Bitcoin’s incredible rise is no secret.

Today it touched an all-time high of $3,400.

Had you bought just $1,000 worth of Bitcoin back in 2010, you’d be sitting on an over $100 million fortune today.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on August 08, 2017, 06:46:07 AM


国內 最后更新 2017年08月7日 21时51分






多年斗爭白费 英迪拉抨漠视权益
7日 • 8小时前
撤回婚姻法 女律师协会:修正案没违宪
7日 • 8小时前
7日 • 8小时前
7日 • 8小时前
赋权航委会 向乘客征费
7日 • 8小时前

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on August 14, 2017, 02:40:55 PM

The Star Online


Business NewsHome > Business > Business News
Monday, 14 August 2017 | MYT 1:20 PM
Bitcoin rises to new heights

HONG KONG: Bitcoin soared past US$4,000 for the first time on growing optimism faster transaction times will hasten the spread of the cryptocurrency.

The largest digital tender jumped to a peak of US$4,125.17 on Monday, a gain of 15% since Friday, after a plan to quicken trade execution by moving some data off the main network was activated last week. The solution - termed SegWit2x - had been so contentious that a new version of the asset called Bitcoin Cash was spun off earlier this month in opposition.

The split grew out of the tension between growing demand for the virtual currency and some of the design features that had fueled that popularity -- the decentralised verification procedures that ensured against hacking and government oversight. While this month’s confrontation ended up as little more than a speed bump in bitcoin’s more than 300% rally in 2017, concerns remain around the capacity to increase transaction volumes.

“Up until now a lot of people didn’t really believe bitcoin could go any higher until the scaling issue is resolved,” said Arthur Hayes, Hong Kong-based founder of bitcoin exchange BitMEX. “With this actually being implemented on protocol, theoretically the amount of transactions that can be processed at a reasonable speed is going to be much higher, so a lot of people are very bullish about bitcoin now.”

Because of a cap on the amount of data processed by bitcoin’s blockchain, transactions started to slow as its popularity boomed. The community was then divided between the SegWit2x solution backed by a group of developers and another supported by miners that sought a larger increase in the block size. The latter then became Bitcoin Cash.

Bitcoin Cash, whose price has retreated since peaking right after its birth, has neither disrupted its progenitor’s operations nor undercut its appeal.

While SegWit2x has garnered enough support for activation, challenges remain. Its next stage involves doubling the block size to 2Mb some time in November, a possibility that’s still mired in debate. Reduced support could thwart this step, with some arguing that Bitcoin Cash -- with a block size of 8Mb - has obviated the need for another “hard fork” to upgrade the bitcoin again, Hayes said.

The cryptocurrency’s staggering price surge has bolstered related businesses. Digital currency exchange Coinbase Inc. announced Thursday it’s received a US$100 mil investment. The supply of bitcoin is capped at 21 million, compared with 16.5 million that had been mined as of Saturday, according to

“People are starting to price in the consumer demand from Coinbase’s US$100mil fund-raising round,” said Justin Short, London-based founder of trading platform Nous. “That’s a lot of advertising budget. Every US$1mil of marketing brings new demand, which increases the price as the supply is limited by design.” - Bloomberg

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on August 15, 2017, 04:01:04 PM

After calling latest surge above $4,000, Standpoint's Ronnie Moas raises bitcoin forecast to $7,500
The stock researcher issued a $5,000 price target on bitcoin in late July, and raised that by $2,500 on Monday after the digital currency's surge to a record high over the weekend.
Moas expects the market value of digital currencies to jump from around $140 billion to $2 trillion, and bitcoin to rise alongside that increase.
Moas said he never held any of the stocks he issued reports on, but now all of his investments are in digital currencies.
Evelyn Cheng   | @chengevelyn
Published 17 Hours Ago  | Updated 14 Hours Ago
 Standpoint's Ronnie Moas raises bitcoin forecast to $7,500   Standpoint's Ronnie Moas raises bitcoin forecast to $7,500 
14 Hours Ago | 00:50
Longtime stock researcher Ronnie Moas raised his price target on bitcoin by $2,500 on Monday after the digital currency hit all-time highs over the weekend.

"What's happening is the floodgates are opening," Moas, founder of Standpoint Research, said in a phone interview with CNBC on Monday. "I believe there are hedge funds and very deep-pocketed individuals going into this now, really hundreds of millions of dollars."

Moas first laid out his views on bitcoin's potential in early July and issued a formal report at the end of last month with a price target of $5,000 for next year.

He told clients Monday he now expects bitcoin to hit climb nearly 80 percent from the weekend's records to $7,500, and maintained the digital currency could surge to $50,000 in 2027 — representing a 28 percent annual compounded growth rate.

Bitcoin three-month performance

Source: CoinDesk

After bitcoin's uneventful split into bitcoin and bitcoin cash on Aug. 1, bitcoin has soared more than 40 percent to all-time highs.

Bitcoin climbed 5 percent Monday morning to a record high of $4,321.08, more than quadruple in value for the year, according to CoinDesk. At that price, the digital currency has gained about 50 percent in August.

As institutional investor interest in bitcoin grows, Moas expects digital currencies to become part of "strategic reserves" and "asset allocation models in the near future." He also said people in foreign countries will likely want to buy digital currencies as a more stable alternative to their national currencies.

"You can't look at this as a normal situation," he said. "We're in an industry that will probably go from $140 billion to $2 trillion and the bitcoin price will probably move with that."

The total market value of more than 800 digital coins listed on has climbed from around $20 billion at the start of this year to about $140 billion on Monday. Bitcoin accounts for about half of that value.

Year-to-date change in global value of digital currencies

Source: CoinMarketCap

Another digital currency, ethereum, traded 1 percent higher near $307, according to CoinDesk. Ethereum has shot up more than 3,000 percent this year.

Bitcoin cash, an alternative version of bitcoin supported by a minority of developers, held steady near $300, according to CoinMarketCap.

Moas told CNBC that 100 percent of his investments are in digital currencies, with the majority in bitcoin and ethereum. He said he never invested in the stocks he issued reports on.

He added in his Monday note to clients:

"Any way that I look at these numbers, my forecasts are looking conservative. It looks to me as though we are at the same point in the adoption curve as we were in 1995 when we went from one million internet users to ten million. The following year the Netscape browser came online and we went from 10 million users to hundreds of millions of users overnight.

I expect that within a couple of years we will have between 50 and 100 million cryptocurrency users -- up from approximately ~10 million today. We only have 0.15% market penetration right now -- if that goes to 2% or 3% we will get to the $50,000 price target that I set at the beginning of July."

To be sure, many note that bitcoin remains like the Wild West compared with the established Wall Street market.

"People should understand they're not dealing with the NYSE right now. There's no regulation, there's no face that you can attach to these exchanges," Moas told CNBC, noting his digital currency holdings are spread across five exchanges.

Bitcoin lost more than half its value in 2014 as Mt.Gox, then the largest exchange by far, said it lost about 850,000 bitcoins (worth about half a billion U.S. dollars at the time) and filed for bankruptcy.

This July, the U.S. Department of Justice alleged in an indictment that a "sizeable portion" of the Mt.Gox losses were deposited in accounts controlled, owned and operated by an exchange called BTC-e and a Russian national named Alexander Vinnik. Vinnik was arrested in late July.

— Reuters contributed to this report.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on August 18, 2017, 11:46:17 AM


The Star Online


Tech NewsHome > Tech > Tech News
Friday, 18 August 2017 | MYT 8:00 AM
Forget oil, Russia goes crazy for cryptocurrency


Marinichev's virtual currencies mining farm operates in a former Soviet-era car factory warehouse in Moscow. — AFP Relaxnews
Marinichev's virtual currencies mining farm operates in a former Soviet-era car factory warehouse in Moscow. — AFP Relaxnews
Standing in a warehouse in a Moscow suburb, Dmitry Marinichev tries to speak over the deafening hum of hundreds of computers stacked on shelves hard at work mining for crypto money.

"The form of currency we are used to is about to disappear," predicts the 42-year-old entrepreneur, who also works as President Vladimir Putin's adviser on Internet matters.

Marinichev is one of Russia's leading crypto-businessmen at the helm of operations in this facility larger than a football pitch located in a former Soviet-era car factory, which collects virtual money on the accounts of its clients.

Individuals, or firms like Marinichev's, provide the computing power to run the so-called blockchain which records the world's virtual money transactions. In return for providing that service they receive virtual money, of which bitcoin is the most popular, as payment – a process bitcoiners call "mining".

Mining farms like this represent a growing craze in Russia for bitcoin and other virtual currencies not backed by governments or central banks that are increasingly used for goods and services on the Internet.

The hunt for virtual currencies is accessible "to anyone who may be hardly familiar with computer science," Marinichev said. "It's no more complicated than buying a cellphone and connecting to a mobile network."

The practice has become so popular in Russia that computer stores in the country have run out of graphic and video cards developed for gamers but are used by bitcoin miners to boost the processing power of their home computers.

Marinichev this week unveiled a more sophisticated setup, inviting investors to pitch in US$100mil (RM429.9mil) to join a mining club and develop a Russian mining chip called Multiclet through his startup.

Benefit of long winters

"The explosion of virtual currency value has made mining profitable enough to make it a professional activity," said Sergei, a 29-year-old computer scientist who runs half a dozen graphics cards plugged into the electrical grid of the company where he works.

He launched his mining operation in March, when the value of bitcoin and its main competitor ethereum, created by Russian-Canadian Vitalik Buterin, reached record heights on the currency's exchange.

Since the beginning of 2017, bitcoin has quadrupled in value, surpassing US$4,000 (RM17,170) at the weekend, while ethereum experienced a rise of 4,500% to hit a record of US$374 (RM1,605) in June, later falling to US$268 (RM1,150) in August.

While the assembly of a mining operation is easy enough, it consumes a large amount of electricity, which can reach the equivalent of several households' needs.

"All my friends who were interested in Bitcoin or ethereum built their devices and plugged them into their corporate networks, and I did the same," Sergei said. "Others cut into the municipal electrical cables."

Russia has a competitive advantage as an environment for mining, as Marinichev points out in a brochure for prospective investors: electricity here costs just 1.3US cents (5.58sen)  per kilowatt hour while long winters save money on cooling systems.

Not an absolute evil

Authorities in Russia were long suspicious of virtual money but have now come to recognise it as a force. A new bill is set to be debated this autumn which aims to regulate the possession and creation of crypto currency in the country.

The legal foundation for virtual money has so far been non-existent in Russia and it is associated with illicit activities like hacking and used to purchase drugs on the dark web.

"There is now an understanding at the highest level in the country that virtual currencies are not an absolute evil but a possible good, especially for the economy," said Marinichev.

Putin in early June even held a meeting at an economic forum with Buterin, the 23-year-old creator of ethereum, who lobbied the Russian president to expand the currency's use in Russia.

Last year, Russia's largest banks tested the platform for some of their transactions. The country's central bank even pondered development of a "national virtual currency".

Though at all-time-high in August at US$116bil (RM497.9bil) , the global cryptocurrency market is still quite young, volatile and prone to speculation.

Bitcoin, for example, lost almost a third of its value between mid-June and mid-July, before gaining it back over the course of a week. Since then, it has been regularly breaking records.

"The rush to virtual money is not a fad or a fleeting phenomenon. The virtualisation of our lives is a market process that has gone on and will continue," Marinichev said.

In a sign of the times, several cafes and restaurants in Moscow this summer began to accept payments in virtual currencies. — AFP Relaxnews

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on September 02, 2017, 12:07:12 PM

Bitcoin Surge To New Record Highs Above $4800 Amid Renewed ETF Hope

Tyler Durden's picture
by Tyler Durden
Sep 1, 2017 2:24 PM
Bitcoin has surged to a new record high this morning over $4850 amid increased debt ceiling anxiety, continuing demand from South Korea and Japan amid the North Korea chaos, a potential short squeeze, and renewed hopes of SEC approval of a Bitcoin ETF.

The six biggest virtual currencies are all higher today...

NOTE - Litecoin and Veritaseum are among the day's best performers.

Bitcoin is now up 165% from pre-Fork-anxiety lows in late July...


Trending Articles
"What The F*ck!": Rescued Woman Blasts CNN For Exploiting…
Earlier today, CNN anchor Rosa Flores apparently chose the wrong mom to exploit in her futile effort to boost CNN…
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Bloomberg's Eric Balchunas notes that Dalia Blass is set to head the SEC Division of Investment Management - which regulates, among other things ETFs. What is of note is that she is a lawyer at Ropes & Gray - the same form representing the Winklevoss twins Bitcoin ETF case. This has prompted excitement that a 'proper' (not GBTC, see below), Bitcoin ETF may be sooner than expected.

As CoinTelegraph reports, the SEC famously rejected two Bitcoin ETF proposals earlier this year, citing largely unregulated markets. They did leave themselves an out, however. The Commission indicated that in the event that a regulated futures market for Bitcoin were developed, they might reconsider. Not long ago, the Commodity Futures Trading Commission (CFTC) gave LedgerX permission to create such a futures market. The SEC agreed to hear an appeal from the Winklevoss twins earlier this year, but few watchers expected the twins to receive a different answer.

With Blass at the helm and regulated futures markets being developed, however, this could change.

Some have argued that the recent rise in the price of cryptocurrencies is driven by anxiety over the debt ceiling in the US...

And also of note, as Alistar Milne notes, there are now more open short Bitcoin positions than longs on Bitfinex, potentially causing a short squeeze...

*  *  *

Finally we note that not everyone is buying into Bitcoin...

First, GBTC (Bitcoin Investment Trust) - which we have discussed numerous times (here and here most recently) - made some headlines overnight as it topped $1000 (implying a $10,000 price for Bitcoin) and Citron's Andrew Left went on CNBC and explained why he was short...


The reaction this morning was an immediate dump (but buyers came right back in)...


Despite still trading at over 100% premium to NAV...

Aditionally, CoinTelegraph reports that David Ader, chief macro strategist at Informa Financial Intelligence, is now trying to show how Bitcoin's gains resemble that of the Nasdaq Telecommunications Index before the tech bubble burst.

An overly frothy market

Placing Bitcoin’s growth chart over that of the Nasdaq Telecommunications Index, and its subsequent rise, Adler is surmising that Bitcoin has hit the same peak and thus should be ready to plummet in a similar style.

Nasdaq reached its peak in 2000 before a monumental crash and for Adler, the similarities are there for Bitcoin’s run to this most recent all time high.

"This is the price chart for an overly frothy market, in my opinion. I just don't see anything quite as comparable to this in bubblelicious terms," said Ader, a former top-rated bond market strategist.

"I think it's going to come to a sorry ending," Ader said. "I don't know anybody who's actually used a Bitcoin for any purpose legal or otherwise. This looks like an overly frothy market and frothy markets lose their froth."
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on September 04, 2017, 01:19:50 PM

Kelly Looks to Oust Omarosa from White House for TRIGGERING Trump with News
by The_Real_Fly - Sep 2, 2017 1:53 PM
Kelly's main advisor is Leon 'Deep State' Panetta.

Infuriating: Police Arrest on Duty Nurse For Refusing to Break Law
by TDB - Sep 1, 2017 11:38 AM
The police did not have a warrant. The police did not have probable cause. The man was not under arrest. The unconscious patient could not consent.

Cryptocrash: Bitcoin Tumbles To Pre Korea-Missile-Launch Level After Topping $5000

Tyler Durden's picture
by Tyler Durden
Sep 2, 2017 1:55 PM
Shortly after topping $5,000 (according to several exchanges), Bitcoin began to tumble dramatically - now down almost $500 - erasing all the post-North-Korea missile anxiety gains
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on September 05, 2017, 08:30:47 PM

Bitcoin tumbles as PBoC declares Initial Coin Offerings illegal

September 05, 2017 19:23 pm MYT
(Sept 5): Bitcoin tumbled the most since July after China’s central bank said initial coin offerings are illegal and asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to the burgeoning market for digital token sales.

The People’s Bank of China said on its website Monday that it had completed investigations into ICOs, and will strictly punish offerings in the future while penalizing legal violations in ones already completed. The regulator said that those who have already raised money must provide refunds, though it didn’t specify how the money would be paid back to investors.

It also said digital token financing and trading platforms are prohibited from doing conversions of coins with fiat currencies. Digital tokens can’t be used as currency on the market and banks are forbidden from offering services to initial coin offerings.

“This is somewhat in step with, maybe not to the same extent, what we’re starting to see in other jurisdictions — the short story is we all know regulations are coming,” said Jehan Chu, managing partner at Kenetic Capital Ltd. in Hong Kong, which invests in and advises on token sales. “China, due to its size and as one of the most speculative IPO markets, needed to take a firmer action.”

Bitcoin tumbled as much as 11.4 percent, the most since July, to US$4,326.75. The ethereum cryptocurrency was down more than 16 percent Monday, according to data from Coindesk.

ICOs are digital token sales that have seen unchecked growth over the past year, raising US$1.6 billion. They have been deemed a threat to China’s financial market stability as authorities struggle to tame financing channels that sprawl beyond the traditional banking system. Widely seen as a way to sidestep venture capital funds and investment banks, they have also increasingly captured the attention of central banks that see in the fledgling trend a threat to their reign.

The central bank’s Monday directive made no mention of cryptocurrencies such as ether or bitcoin.

There were 43 ICO platforms in China as of July 18, according to a report by the National Committee of Experts on the Internet Financial Security Technology. Sixty-five ICO projects had been completed, the committee said, raising 2.6 billion yuan.

“This is a positive move given the rapid proliferation of low quality and possibly fraudulent coin sales promising the moon,” said Emad Mostaque, London-based co-chief investment officer at Capricorn Fund Managers Ltd. “There is tremendous value in the model but we need to see more separation of high quality, ethical offerings versus those seeking to circumvent securities law for a quick buck.”

A cross between crowdfunding and an initial public offering, ICOs involve the sale of virtual coins mostly based on the ethereum blockchain, similar to the technology that underpins bitcoin. But unlike a traditional IPO in which buyers get shares, getting behind a startup’s ICO nets virtual tokens — like mini-cryptocurrencies — unique to the issuing company or its network. That means they grow in value only if the startup’s business or network proves viable, attracting more people and boosting liquidity.

Greater scrutiny

That’s a big if, and the profusion of untested concepts has spurred talk of a bubble. The US Securities and Exchange Commission signaled greater scrutiny of the sector when it warned that ICOs may be considered securities, though it stopped short of suggesting a broader clampdown. The regulator reaffirmed its focus on protecting investors, however, and said issuers must register the deals with the government unless they have a valid excuse.

The vast amount of money amassed in a short span of time has also attracted cyber criminals, with an estimated 10 percent of money intended for ICOs looted away by scams such as phishing this year, according to Chainalysis, a New York-based firm that analyzes transactions and provides anti-money laundering software.

Chu of Kenetic Capital said he believes China will likely eventually allow token sales, but only on approved platforms, and may even vet projects individually.

“I think they will allow the sale of tokens in a format which they deem safe and more measured,” he said.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on September 06, 2017, 06:58:06 PM

Business NewsHome > Business > Business News
Wednesday, 6 September 2017 | MYT 4:16 PM
Seventy-eight billion reasons why bitcoin's the new gold


COULD bitcoin be the next gold?

The idea has a lot of intuitive appeal. Gold bugs and bitcoin fetishists tend to share a deep distrust of fiat currency and the nation state, an impregnable bullishness about their favored asset class, and an obsessive attention to details of market movements combined with a blithe disinterest in bigger-picture issues.

The idea has become particularly popular as the value invested in bitcoin and other cryptocurrencies has marched upward over the past year.

 Even after this week's selloff, prompted by China declaring initial coin offerings illegal, the value of all cryptocurrencies in circulation is around $155 billion, according to

That may sound small compared to the $7.8 trillion notional value of the world's 187,200 metric tons of gold.

At the same time, it's already about a tenth the value of the 40,000 tons of yellow metal used for investment as bullion bars and coins, and has overtaken the amount held in gold exchange-traded funds.

 At more than $78 billion, Bitcoin alone isn't far from overtaking the $90 billion-odd invested in all gold ETFs.

There are two main reasons to doubt bitcoin's viability as an investment. One is an engineering issue: Its creaky infrastructure is likely to be a turn-off for all but the hobbyist fringe. Another is more philosophical: Digital currencies have no fundamental value, so have no place in a portfolio.

Both objections are weaker than you might think.

Take infrastructure. It's certainly true that bitcoin's operations are surprisingly clunky. Just confirming a single transaction typically takes more than an hour or longer -- it briefly took more than a day at one point last month, according to software company

Having said that, financial markets are generally built on similar Rube Goldberg foundations. It's comically difficult for ordinary investors to buy an actual barrel of crude oil, as Tracy Alloway of Bloomberg News found out a few years back.

The economist John Maynard Keynes, according to one possibly apocryphal story, once measured up the storage capacity of the chapel of King's College, Cambridge after coming perilously close to having to take delivery of a month's worth of the U.K.'s wheat supply.

Completing transactions in the real world is often so clunky that some banks are already exploring using, um, blockchains instead.

What makes markets investable for the most part is not their physical foundations, but the superstructure of derivatives contracts, exchanges and clearing houses built on top.

To date, the world of bitcoin exchanges has been the wild west. When Mt. Gox filed for bankruptcy in 2014, it said it had lost 850,000 coins worth more than $450 million. Another $70 million-odd was stolen in a hack of Bitfinex last year.

The likes of Deribit and Bitmex have been offering bitcoin futures and options for some time, but major institutional investors are only going to participate if they think the clearing and settlement process is rock-solid and the exchange itself reliably solvent.

Change on that front is imminent. The Chicago Board Options Exchange is planning to start offering cash-settled bitcoin futures by next April, CNBC reported last week.

 Trading platform LedgerX LLC last month won regulatory approval from the U.S. Commodity Futures Trading Commission to act as a clearing house for derivatives settled in digital currencies.

The ability to short or take leveraged positions in digital currencies could open them to a far wider array of investors.

What, though, is the value of a digital currency?

It's a fair question, but one that could equally be leveled at gold. Since Richard Nixon ended the fixed $35 an ounce convertibility of gold in 1971, its value has risen at times (the 1970s, the 2000s) and fallen at others.

The best argument to justify investing in gold these days is not that it's an eternal “store of value” but that its very weirdness makes it special:

According to modern portfolio theory, you should buy the shiny stuff not for its superior investment returns , but because it doesn't correlate much to other asset classes such as stocks, bonds and commodities.

However, while gold did exhibit weak or negative correlations to returns on the S&P 500 for much of the 1980s and early 1990s, it's been positively correlated for extended periods since then. During gold's 2012 run-up, the two moved more or less in tandem.

If gold deserves investment dollars because its inconsistent correlation with equities helps diversify portfolios, the same argument can be made for bitcoin, too.

Digital currencies may be as vulgar as the original barbarous relic, but neither is going away any time soon. If that makes investors in both look less like seers and more like problem gamblers betting on where a fly will land -- well, welcome to financial markets.

If you'd bought gold and the S&P Index and reinvested your dividends at almost any time since the index began calculating total returns in stocks would have outperformed if you held them to the present.

Gold has outperformed over the past year, and can do so over short time periods, since its greater volatility frequently results in sharper upwards and downwards moves.

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

David Fickling is a Bloomberg Gadfly columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.


Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on September 11, 2017, 09:06:00 PM


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After previously slamming Bitcoin and other digital currencies as “not real”, “fad”, and “a pyramid scheme”, billionaire traditional investor Howard Marks made a spectacular U-turn on his views on the new financial technology in his latest memo to Oaktree Clients.


In his July memo, Howard Marks explored the world of cryptocurrencies and leveled heavy criticism at them. However, after receiving significant backlash from various media outlets for his ‘dinosaur’ views and lack of understanding of the new financial technology, Marks decided to revisit the topic to get ‘enlightened’ and ‘educated’ on the subject. In his new September memo, he claims that Bitcoin partisans encouraged him to think of Bitcoin as a currency – a medium of exchange – rather than as an investment asset.

The billionaire investor acknowledged his ‘mistake’ as he had been looking at Bitcoin the wrong way, and humbly conceded that much of the arguments he made against the cryptocurrency were applicable to the dollar as well. Marks subsequently made the case for qualifying Bitcoin as a currency and concluded that although he sees no reason why Bitcoin can’t serve as a currency and “become an accepted medium of exchange”, he warned against getting caught up in the hype and buying it with the sole view of making money off it
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on September 13, 2017, 07:05:03 AM

JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
"It's worse than tulip bulbs. It won't end well. Someone is going to get killed," Dimon said.
Bitcoin fell to trade around its session lows after Dimon's comments.
Dimon's criticism comes at a time when some well-known figures on Wall Street are starting to embrace the cryptocurrency.
Fred Imbert   | @foimbert
Published 5 Hours Ago  | Updated 2 Hours Ago
 Jamie Dimon: Governments look at bitcoin as a novelty   Jamie Dimon: Governments look at bitcoin as a novelty 
3 Hours Ago | 01:45
JPMorgan Chase CEO Jamie Dimon took a shot at bitcoin, saying the cryptocurrency "is a fraud."

"It's just not a real thing, eventually it will be closed," Dimon said Tuesday at the Delivering Alpha conference presented by CNBC and Institutional Investor.

Dimon joked that even his daughter bought some bitcoin, looking to cash in on a trend that has seen it soar more than 300 percent this year.

"I'm not saying 'go short bitcoin and sell $100,000 of bitcoin before it goes down," he said. "This is not advice of what to do. My daughter bought bitcoin, it went up and now she thinks she's a genius."

In an appearance at a separate conference earlier in the day, Dimon said bitcoin mania is reminiscent of the tulip bulb craze in the 17th century.

"It's worse than tulip bulbs. It won't end well. Someone is going to get killed," Dimon said at a banking industry conference organized by Barclays. "Currencies have legal support. It will blow up."

Dimon also said he'd "fire in a second" any JPMorgan trader who was trading bitcoin, noting two reasons: "It's against our rules and they are stupid."

Bitcoin fell to its session lows after Dimon's comments. As of 3:01 p.m. in New York, bitcoin traded at $4,106.23, down 2 percent.

Dimon's criticism comes at a time when some of the most well-known figures on Wall Street are starting to embrace the cryptocurrency. Fundstrat's Tom Lee said he sees bitcoin surging to $6,000 next year and value investor Bill Miller reportedly owns bitcoin.

 Bitcoin is the 'most crowded trade' right now   Bitcoin is the 'most crowded trade' right now 
7 Hours Ago | 00:53
Even Dimon's own bank, JPMorgan, has reportedly begun a trial project using blockchain as it tries to cut trading costs. Blockchain is the technology behind bitcoin.

Bitcoin has already soared 315 percent this year.

Earlier on Tuesday, Dimon warned about further declines in trading revenue for the banking giant.

Dimon said third-quarter trading revenue will drop about 20 percent on a year-over-year basis. Dimon also said the bank may not give intra-quarter guidance in the future.

JPMorgan's stock fell off its session highs on the comments, but remained up 1.4 percent on the day.

This comes just a day after Citigroup CEO John Gerspach issued a similar warning. On Monday, Gerspach said Citi's trading revenue could fall 15 percent, citing low market volatility.

2017 has been the calmest market in decades. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, hit its lowest level in more than 20 years earlier this year.

The second quarter was also a weak one for JPMorgan's trading unit as revenue fell 14 percent during the period on a year-over-year basis.

Dimon will also be speaking later Tuesday at the Delivering Alpha conference in New York.

--With reporting by Wilfred Frost and Jeff Cox
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on September 13, 2017, 02:33:29 PM

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 $4623 Th  $4303 Fr  $4284 Sa  $4234 Su  $4201 Mo  $4145 Tu $NaN Now
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19 hours ago | Sterlin Lujan | 29383 | 65
Why Bitcoin is Not a Bubble
The internet is replete with people referring to bitcoin as a “bubble.” They are spreading fear, uncertainty, and doubt galore. They believe bitcoin’s high price spells impending doom, but their criticisms move beyond mere skepticism. It seems like they just hate cryptocurrency. Yet many of these * do not fully grasp bitcoin…or even economics.

Also read: BTC-e Exchange Comes Back Online With Limited Functionality

For anyone unfamiliar with what a bubble is, investopedia refers to it as an asset driven by unwarranted, but exuberant, market behavior. It is basically a hike in price that has resulted in a lie or “false truth” about the actual value of an asset, and therefore presages a massive selloff.

People are Confused About Bitcoin
Bitcoin is Not a Bubble

Commentators like Peter Schiff and others have routinely said bitcoin is a “bubble,” and that it will collapse any moment. They make these claims, but do not seem to understand how bitcoin works. Everyone sees headlines like this all over the internet: “Bitcoin is a false truth, warns analyst,” and this CNBC article, “Bitcoin’s nearly five-fold climb in 2017 looks very similar to tech bubble surge.” There is even a site dedicated to collecting these FUD and clickbait claims the mainstream media repeats.

In a recent Chicago Tribune op-ed article called “Why Investors Should be Wary of Bitcoin,” writer Gail MarksJarvis, also compared the bitcoin boom to various historical bubbles:

Do you remember the housing crash of 2008, when the innocents who bought homes thinking they’d make a fortune on soaring prices ended up losing 30 percent on plunging home values? Do you remember the technology stock bubble of early 2000? Until the technology bubble burst, people were euphoric about the pioneers of the fledgling Internet in the 1990s, and figured the gains in technology stocks would never end.
She went on to say that bitcoin is not special or different in this regard. She implied it is a “volatile bubble” that could burst at anytime and leave investors gasping for air. Her comparisons — and all comparisons mentioned — are erroneous, though. The currency is not comparable to any of the aforesaid history lessons.

Bitcoin is Special
Bitcoin is special. It is not a company that could lose profitability and fail. It is certainly not a speculative real estate scam that could crumble as a result of government and bank-induced chicanery. Bitcoin is another animal.

Bitcoin is Not a Bubble

Its value is not increasing because of marketplace lies. It is increasing because it is a life-changing financial invention. It is increasing because more people are adopting it. The “network effect” is in full swing.

It is true investors are rabid to get on board and this excitement is causing bitcoin’s price to explode, but do not confuse this with an artificially inflated bubble based on a “false truth.” In accordance with the network effect, the more people that continue to get involved with bitcoin, the higher the price will climb.

Basic Economics

Bitcoin is also growing as a result of basic economics. The supply is limited to 21 million units and this necessarily makes bitcoin a scarce asset. When things are scarce and people want those things, their value will ultimately rise. Supply and demand at work.

Thus, when economics and the network effect intermingle, you have a recipe for explosive growth within an asset. Bitcoin is not some new version of the 17th century tulip bulb. It is a groundbreaking advancement in accounting and money.

Bubbles versus Technological Failures
With that said, this does not mean Bitcoin is guaranteed to succeed. The price could be affected if something bad were to happen to the protocol that underlies it. If this kind of event ever occurred, people would certainly lose faith in bitcoin and its price would collapse.

Bitcoin is Not a Bubble

However, this is not the same thing as an artificially hiked price or “bubble.” It is the result of a technological or community failure, but not a market failure. For instance, Bitcoin just upgraded to Segwit. However, Segwit does not necessarily align with Satoshi Nakamoto’s vision that Bitcoin should be a scalable, peer-2-peer cash system. Instead, it turns bitcoin into a settlement layer, which could do harm to the currency.

This illustration is not intended to spread panic. I am just saying bitcoin is susceptible to failures and crashes. It is just that these potential crashes are not the result of a “bubble.” They would occur because the community failed to make bitcoin economically viable. In either case, many people hope Segwit will work over the long run and that there will not be a technological failure.

Point being: if people want to call bitcoin a bubble, they ought to explain why exactly it is, instead of incompetently comparing it to past bubbles that do not share any characteristics with bitcoin other than a big price tag. If bitcoin were a bubble, it would be the largest one humankind has ever witnessed (not counting the 6,000-year old gold bubble, of course). But that is unlikely. It is more likely that bitcoin is just an amazing creation. Its value and potential dwarfs any fintech idea heretofore imagined, and the blockchain communities are just getting started.

Bitcoin is Not a Bubble

Why do people believe bitcoin is a bubble? How big will bitcoin actually grow? Let us know in the comments section below.

Images courtesy of Shutterstock
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on September 16, 2017, 09:29:42 AM


中国停止交易 比特幣暴跌逾90%
財经 最后更新 2017年09月15日 08时37分
中国停止交易 比特幣暴跌逾90%






11日 • 4天前
比特幣再创新高 突破3000美元大关
5日 • 一月前
比特幣价格 首次超越黄金
4日 • 6月前
中国大妈出手  比特幣再飆升
20日 • 一年前
2日 • 一年前
美国华尔街对比特幣持保留態度。摩根大通(JPMorgan )执行长戴蒙(Jamie Dimon)批评比特幣是场「骗局」,若旗下有员工买进比特幣,他会立刻开除。


Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on October 05, 2017, 12:06:04 PM

‘Nasi kerabu’ stall cashes in on Bitcoin trend
Wednesday, 4 Oct 2017

by sira habibu


Keeping up with the times: Safiin and Azizah showing a plate of their ‘nasi kandar’ at their stall.
Keeping up with the times: Safiin and Azizah showing a plate of their ‘nasi kandar’ at their stall.

KOTA BARU: A humble nasi kerabu stall in the backwaters of Kelantan is the latest to jump onto the virtual currency hype by offering customers the option to pay in Bitcoins.

Jijah’s NK Stall in Kampung Pauh, Badang, located about 25km south-west of the city here, is on the global map of merchants willing to accept the digital cryptocurrency.

Retired army personnel Safiin Mohamed, 65, who introduced the digital payment system at his wife Azizah Derahman’s stall recently, said he believes Bitcoins will be the future medium of exchange.

However, he lamented that the bitcoin fad has yet to catch on here, saying the stall only got eight transactions in two months.

“This is because the value of Bitcoins keeps appreciating fast,” he said, saying one Bitcoin was now worth RM18,701 compared to RM23 four years ago.

“Although customers need only pay 0.00025 in Bitcoin for a packet of nasi kerabu with grilled fish worth RM5, most still prefer paying cash,” he said.

Safiin said those using virtual currency need not fear being robbed.

“One does not need to carry cash, and only needs to scan the QR code from our mobile devices to make payment. Buy, scan and leave without fear of being robbed,” he said.

The enterprising villager said he learnt all about Bitcoins from Google.

“If we do not keep up with future trends, we will be left behind,” he added.

International Monetary Fund managing director Christine Lagarde said recently that virtual currencies have the potential to replace traditional notes in the coming decades.

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on October 13, 2017, 06:40:36 AM

Search Quotes, News & Video

Bitcoin leaps to record above $5,300
The price of bitcoin hit an all-time high of $5,386.23.
This was above the cryptocurrency's previous all-time high of $5,013.91 hit on September 2
Speculation that China could reverse the ban of cryptocurrency exchanges is driving sentiment
Arjun Kharpal   | @ArjunKharpal
Published 14 Hours Ago  Updated 58 Mins Ago
 Bitcoin just hit a new all-time high above $5,100   Bitcoin just hit a new all-time high 
8 Hours Ago | 00:52
Bitcoin hit a new record high Thursday with rising investor interest causing a rally for the price of the cryptocurrency.

Bitcoin climbed 11 percent to an all-time high of $5,386.23, according to data from industry website Coindesk. This surpassed the previous high of $5,013.91 hit on September 2.

With Thursday's gains, bitcoin is now up around 454 percent year-to-date.

Several digital currency enthusiasts pointed to increased investor interest in bitcoin ahead of a scheduled split in November. When bitcoin split into bitcoin and bitcoin cash in August, bitcoin investors at the time received an equal amount of bitcoin cash. However, not all digital currency exchanges immediately supported the offshoot currency.

Other major digital currencies mostly rose as well. Ethereum traded mildly higher around $305. Bitcoin cash, the offshoot of the original bitcoin, traded slightly higher around $316.

Bitcoin year-to-date performance

Source: CoinDesk

Investors also appear to have shrugged off much of the negative news from regulators around bitcoin.

Last month, Chinese regulators banned cryptocurrency exchanges with some of the largest in the country shutting down operations. The government also banned initial coin offerings (ICOs), a way for cryptocurrency start-ups to raise money through issuing tokens.

But reports have emerged in the last few days that trading in the world's second-largest economy could resume. A report by, citing Chinese state-owned news company Xinhua, said that bitcoin trading will likely resume with more regulation. This could include new licensing and anti-money laundering regulations to be implemented by exchanges.

"Speculators are bullish on bitcoin's value with the anticipation of China's reintegration with global crypto markets," Aurelien Menant, CEO of cryptocurrency exchange Gatecoin, told CNBC by email on Thursday.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on October 22, 2017, 07:37:00 AM


比特幣升破6000美元 今年涨幅逾500%
財经 最后更新 2017年10月21日 12时42分
比特幣升破6000美元 今年涨幅逾500%






比特幣创新高破5千美元 今年已暴涨400%
13日 • 一星期前
比特幣捲土重来 价位突破4000美元大关
19日 • 一月前
中国停止交易 比特幣暴跌逾90%
15日 • 一月前
11日 • 一月前
比特幣再创新高 突破3000美元大关
5日 • 2月前

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on November 03, 2017, 08:35:02 AM

Bitcoin pushes past US$7k mark
Thursday, 2 Nov 2017

4:33 PM MYT

HONG KONG: Bitcoin climbed past US$7,000 for the first time, breaching another milestone less than one month after it tore through the US$5,000 mark.

Spot pricing for bitcoin climbed as much as 7.1% to a high of US$7,045.46 before pulling back slightly to US$6,968.25 at 7.45am in London. The cryptocurrency is up as much as 640% this year and is now worth more than US$100bil.

The digital currency got new impetus this week after CME Group

 Inc, the world’s largest exchange owner, said it plans to introduce bitcoin futures by the end of the year, citing pent-up demand from clients. The move will give the software-created asset some regulatory cover that is expected to attract more buyers - Bloomberg

Read more at$7k-mark/#gJR2WcASRfV3wM6I.99
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on December 04, 2017, 08:32:42 PM
With the debate over its bubble status still raging, the flagship cryptocurrency continued its march higher on Monday, solidifying above US$11,000 and bringing its climb this year to more than 1,000%. With market tracker putting the total value of all bitcoins in circulation at US$190bil, it’s come a long way from August, when one coin could buy you a hefty supply of avocados.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: king on December 07, 2017, 12:33:06 PM

Bitcoin rises above US$14,000 on Bitstamp to record high
Thursday, 7 Dec 2017

10:27 AM MYT

TOKYO: Bitcoin soared to a record high of US$14,047.40 on Thursday, continuing its surge from below US$1,000 at the beginning of the year.

The cryptocurrency was last up 2.94% at US$14,030.00 at the Luxembourg-based Bitstamp exchange. - Reuters

Read more at$14000-on-bitstamp-to-record-high/#kAsvOyQhbY6SFPrF.99
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: jjwong on December 07, 2017, 06:14:30 PM
the biggest uncertainty about bitcoin
1.  buying at the peak
2.  tiba x2 your bitcoin stored somewhere (btw you where?) gone missing by the the guardian of your coin. It happen today ..50 millions worth of bitcoin stolen, according to the "banker" who safe keep your coins
3. the "bank" may just tipu tipu that your wallet kena hacked. he may be the mastermind. After all one coin is 14000usd x 4.1=57400 rgt
4. if bitcoin got such good security feature,foolproof as the propanganda claim, how come the pencuri can sell it and not be detected.
5. one fine day ,you wake up, and the coins and many 14k usd worth of it ,is no longer around like tulip flower. and the marketing genius (wolves) gave you all the coins and he keep the 200billions usd cash. and the tulips? it suddenly dissappear.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on January 10, 2018, 10:33:15 PM
Billionaire investor Warren Buffett is confident the cryptocurrency story will end in tears, but he isn't putting any money on it. "In

terms of cryptocurrencies generally, I can say with almost certainty that it will come to a bad ending," the Berkshire 

Hathaway BRK.A, +0.11% BRK.B, +0.14% chairman and chief executive told CNBC  in an interview. Buffett said that if it were

possible to buy a five-year put option "on every one of the cryptocurrencies" he would do so,
but that he would never "short a

dime's worth" of any of them outright. Buffett also said he had no interest in trading bitcoin futures XBTF8, -5.95% BTCF8, -6.64%

The bitcoin spot price BTCUSD, -5.11% was off 4% at $13,982.65, far off the all-time high above $19,000 it hit in mid-December.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on January 14, 2018, 12:01:48 PM
SUBANG Jaya Municipal Council (MPSJ) has finally put an end to the bitcoin mining activity conducted illegally in two residential properties in Puchong.  :phew: :phew: :phew:
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on January 14, 2018, 12:03:52 PM
KUALA LUMPUR: Luno, a globally-recognised cryptocurrency exchanger based in London, said today that its bank account in Malaysia has been frozen by the Inland Revenue Board, pending an investigaton relating to tax matters.

As such, it has not been able to process deposits or withdrawals in the country over the past few weeks. The account is held under the name of its local entity, BitX Malaysia.

 :sweat: :sweat: :sweat:
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on January 14, 2018, 09:25:47 PM
Bank Indonesia (BI) has previously said that cryptocurrencies were not recognized as a legal medium of exchange, so that they could not be used as a means of payment in Indonesia.  :( :( :( :(
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on January 15, 2018, 08:25:20 PM
WASHINGTON: Dominant digital currency bitcoin should not be allowed to become the Swiss bank account of the modern era used to hide illicit activity, Treasury Secretary Steven Mnuchin said Friday.

Mnuchin pledged to work with other governments, including within the Group of 20, which includes the world's major economies, to monitor the activity of those who invest heavily in the cryptocurrency.

"One of the things we will be working with the G20 on is making sure that this doesn't become the Swiss numbered bank account," he said at a conference, referring to the famously secretive accounts used by some to hide ill-gotten gains.

"We want make sure that bad people can't use this currency to do bad things."
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on January 16, 2018, 08:28:57 PM
LONDON: Bitcoin slid as much as 14 percent on Tuesday to hit a four-week low below $12,000, as fears grew of a regulatory crackdown after reports that South Korea's finance minister had said banning trading in cryptocurrencies was still an option.



 South Korean news website Yonhap reported that Finance Minister Kim Dong-yeon had told a local radio station that the government would be coming up with a set of measures to clamp down on the "irrational" cryptocurrency investment craze.

 Bitcoin slid on the news, trading as low as $11,730 on the Luxembourg-based Bitstamp exchange, down 13.6 percent on the day.

 The latest tumble leaves bitcoin more than 40 percent down from the record highs of around $20,000 reached in mid-December, wiping about $125 billion from its "market cap" - the price of bitcoin multiplied by the total number of bitcoins that have been "mined", or released into the market. - Reuters

 :'( :'( :'(
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on January 17, 2018, 08:23:57 AM
SYDNEY: Bitcoin had lost a quarter of its value in early Asian trading on Wednesday as fears grew of a regulatory crackdown after reports that South Korea's finance minister said banning trading in cryptocurrencies was still an option.
Bitcoin was last down 25 percent at $10,182.00 on the Luxembourg-based Bitstamp exchange. - Reuters
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on January 19, 2018, 07:16:03 PM
KUALA LUMPUR: The Securities Commission (SC) and Bank Negara Malaysia have warned the public against initial coin offering (ICO) schemes which may involve activities that are subject to laws administered by both agencies.

“Carrying on such activities without proper authorisation is an offense.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on January 19, 2018, 07:18:15 PM
Bitcoin falls below $10,000 as virtual currency bubble deflates.

The bitcoin balloon oredi got punctured ?  :'( :'( :'(
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on January 19, 2018, 07:20:01 PM
Regulators in the United States have continued to crack down on smaller virtual currencies like Bitconnect, which has been described as a Ponzi scheme by many in the industry.  8) :( :S
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: DR KIM on January 19, 2018, 08:54:30 PM
Bitcoin falls below $10,000 as virtual currency bubble deflates.

The bitcoin balloon oredi got punctured ?  :'( :'( :'(

ARgghhhhhhhhhhhhhhh   :sweat: :'( :headbang:
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on February 02, 2018, 06:02:48 PM
Kicking off a fresh wave of selling, India’s finance minister Arun Jaitley came down hard on cryptocurrencies Thursday, as he said the government does not see them as a form of legal tender, according to media reports.

Addressing Parliament during an annual budget announcement, he said Indian officials would “take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system.”
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on February 06, 2018, 11:53:15 PM
Noted economist Nouriel Roubini thinks the price of bitcoin is going to zero.   :'( :'( :'(
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on February 07, 2018, 06:00:05 PM
Get Ready for Most Cryptocurrencies to Hit Zero, Goldman Says   :'( :'( :'(
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: DR KIM on February 07, 2018, 06:14:26 PM
Get Ready for Most Cryptocurrencies to Hit Zero, Goldman Says   :'( :'( :'(

OLY BEWARE.....roasted to dead rat :phew:
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: Teosh on February 10, 2018, 11:10:09 PM
Bitcoin price LIVE: BTC rises as optimists return to predict $50,000 coin at 2018 end

Bitcoin has risen $2,000 in just over a day
BITCOIN is now back above the $8,000 mark and predictably the optimists have returned with some BTC believers predicting that the market cap will hit $1 trillion with BTC itself hitting $50,000 by the end of this year.
PUBLISHED: 09:56, Thu, Feb 8, 2018
UPDATED: 12:53, Fri, Feb 9, 2018
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: Teosh on February 10, 2018, 11:11:23 PM
Bitcoin price LIVE: BTC rises as optimists return to predict $50,000 coin at 2018 end

Bitcoin has risen $2,000 in just over a day
BITCOIN is now back above the $8,000 mark and predictably the optimists have returned with some BTC believers predicting that the market cap will hit $1 trillion with BTC itself hitting $50,000 by the end of this year.
PUBLISHED: 09:56, Thu, Feb 8, 2018
UPDATED: 12:53, Fri, Feb 9, 2018
too optimists .... Sudah rugi teruk till brain cannot function well izzit :sweat:
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: Teosh on February 10, 2018, 11:13:03 PM

国行翻底 大马不禁虚擬幣

(吉隆坡10日讯) 国家银行总裁丹斯里莫哈末依布拉欣宣佈,政府將在本月公佈虚擬货幣的概念文件,將这类货幣的运作模式曝光。

他说,到时,包括比特幣(bitcoin)、以太幣( ethereum)、瑞波幣(ripple)在內的虚擬货幣,无论是幕后推广者、流通及营运手法,都会摊在阳光下。





Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: DR KIM on February 11, 2018, 09:43:27 AM
.... Sudah rugi :headbang: teruk till brain cannot function well izzit :sweat:

arghhhhh  MISSING

OLY   - take note  :devil: >:D

 :giggle: :D.....ON   BITTER  COIN


BITTER COIN  :sweat: :phew:  :D
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: jjwong on February 11, 2018, 11:11:49 AM
Bitcoin price LIVE: BTC rises as optimists return to predict $50,000 coin at 2018 end

Bitcoin has risen $2,000 in just over a day
BITCOIN is now back above the $8,000 mark and predictably the optimists have returned with some BTC believers predicting that the market cap will hit $1 trillion with BTC itself hitting $50,000 by the end of this year.
PUBLISHED: 09:56, Thu, Feb 8, 2018
UPDATED: 12:53, Fri, Feb 9, 2018
1 TRILLION?  That will make bitcoin many times bigger than GDP of moany countries.
what is in bitcoin? just a number. Is it worth 1 trillion?
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: Teosh on February 11, 2018, 10:53:37 PM
Bitcoin: Utter pipedream
Saturday, 10 Feb 2018

by lin see-yan - what are we to do?

I JUST returned from a meeting of the Asian Shadow Financial Regulatory Committee in Bangkok.

The group comprises Asian academic experts on economics and finance. Their role is to monitor the state of the world economy and the workings of its financial markets in the light of existing and prospective policies; and draw lessons and give advice on vital public policy issues of current interest to regulators and market practitioners to make the world a better place.

The group comprises 23 professors from 14 countries, coming from a diverse group of universities and think-tanks, including the universities of Sydney and Monash, and of Fudan, Hong Kong and Sun-Yat-Sen in China, Universitas Indonesia, universities of Tokyo and Hitotsubashi, Yonsei and Korea universities, Sunway University, Massey University in New Zealand, University of the Philippines, Singapore Management University, National Taiwan University, Chulalongkorn University and NIDA Business School, University of Hawaii and University of California at Davis, University of Vietnam, and Tilburg University in the Netherlands.

They examined key issues surrounding the theme: “Cryptocurrencies: Quo Vadis?” focusing on the role and activities of the flavour of the month, bitcoin. At the end of it all, they issued the following statement:

“Cryptocurrencies in general, and bitcoin, in particular, have been receiving considerable press of late, driven mainly by wide swings in value in the cryptocurrency exchanges. There are now in excess of 2,500 products considered to be cryptocurrencies and in the last three weeks alone their combined market value has plummeted from US$830bil to US$545bil as of today, of which US$215bil is attributed to bitcoin and bitcoin cash.

To keep this in perspective, however, Apple Inc has a market value of US$880bil as of today. Market value measures the equity value of a business – or what investors are willing to pay for its future profits.Unlike enterprises, however, bitcoin has no business, no intrinsic value, no cash flows, no profit and loss statement, and no balance sheet. It is a speculative instrument.

Cryptocurrencies, including bitcoin, are not considered currency today because they are not a universal means of payment, nor a stable store of value, nor a reliable unit of account. Buyers purchase on the basis that these cryptocurrencies would rise in value. While market value has been the main focus of the current interest, the more important issues are around the role of cryptocurrencies both as financial assets, and the role they can play in transaction settlements, and their implications, if any, on financial stability.

While there is much interest in cryptocurrencies, especially bitcoin, the volume of transactions remains very small currently. For example, total US dollars (cash) in circulation amount to US$1.6 trillion as of today. M3 (broad money) is valued by the Federal Reserve at US$14 trillion. Total US economy assets in 2016 were valued at US$220 trillion. So why the fascination with cryptocurrencies? Supporters of Bitcoin claim it to be a superior store of value to fiat money issued by central banks because its supply is limited by design and therefore cannot be debased. In addition, the technology behind bitcoin, called the Blockchain, provides anonymity to its players. That is why it is a favourite with money launderers, tax evaders, terrorists, drug smuggler, hackers, and anyone who wants to evade the rule of law. Many people who use cryptocurrencies assert that they pay minimal transaction costs mainly because it avoids the cost of financial intermediation.

Still, there is large potential for capital gains because of the wide volatility of its price movement. This is the main driving force behind the popularity of cryptocurrencies like bitcoin. However, there are high risks involved including extreme volatility and opaque, unregulated exchanges that are prone to cyberattacks.

Authorities and regulators worry about bitcoin because they fear it is a bubble. In the event of a bust, investors in bitcoin – they are many, spread over various continents and countries – will be hurt; and they exert pressure on governments to regulate this business in order to protect investors.

In addition, they worry about the impact – in the event that cryptocurrency trading becomes a significant element in maintaining financial stability – in terms of the impact on the transmission of monetary policy and on its effects on the banking system, and most of all, on systemic risk, if any.

Authorities have responded in different way. In South Korea, new regulations today require banks and exchanges to identify who their customers are, imposing greater transparency in the conduct of the cryptocurrency business. On the other hand, Japanese authorities are more liberal. They only require the registration of companies engaged in this business at this time.

Many other authorities, including those in the US, are adopting a wait-and-see attitude while studying the issues, recognising that there may be a role for them to introduce some regulatory measures in the event that the volume and price volatility of cryptocurrency transactions become more and more significant.

In the meantime, government and tax authorities feel uneasy about the impact on revenue collection. Other regulators are worried about crowdfunding through ICOs (initial coin offers). Authorities in a number of countries, including the US, have introduced measures to regulate the issue of new ICOs to ensure that investors are provided with the necessary information before making such investments.

At the same time, central banks in many countries are looking into the desirability and possibility of issuing their own digital currencies, including to counter privately-issued cryptocurrencies.


1. Bitcoin came into prominence because of an apparent lack of confidence in fiat currency. It is imperative that governments and central banks continue to give priority to (i) protecting the integrity of their currencies; (ii) designing policies to contain inflation to prevent it from debasing the currency; and (iii) strengthening their mandate to promote financial stability over financial development, if needed (including ensure fintech development does not undermine confidence). Also, in cases where authorities do not have the power to regulate the cryptocurrency business, they should actively seek such authority where appropriate.

2. Monetary authorities should be open to creating digital currencies rather than confining their money supply to notes, coins and deposits. But they should do so in a transparent manner and only after careful consultation and study.

3. It is the role of government to warn their citizens and investors about the high risk involved, and ensure transparency in bitcoin activity, and not to unduly introduce more and more regulations that will stifle innovative initiatives. Blockchain technology, for example, does have other useful applications apart from the issue of its use in the creation of digital currency.

Investor protection

As we see today, bitcoin and the other cryptocurrencies are not currencies. Mostly, they reflect speculative activity. Hence, investing and transacting in them involve high risks. It is imperative that investors realise this and approach investing in cryptocurrencies with great caution and with as much information as is available to help them manage these risks.

Investors must fully understand that cryptocurrency prices need not necessarily always rise, particularly because they have no intrinsic value, they could just as easily fall. So investors beware: Caveat emptor.”


The following developments are noteworthy:

> Columbia’s Prof N. Roubini (Dr Doom) claims bitcoin is not a currency. Few price anything in bitcoin. Not many retailers accept it (even bitcoin conferences don’t accept it as payment). And it’s a poor store of value because its price can fluctuate 20%-30% a day. Worse, he labelled it “the mother of all bubbles” because its claim of a steady-state supply is “fraudulent”.

It has already created thee similar currencies: Bitcoin Cash, Litecoin and Bitcoin Gold. Together with the hundreds of such other currencies invented daily, this creation of money supply is debasing the currency at a much faster pace than any major central banks ever did. Furthermore, bitcoin’s claimed advantage is also its Achilles’s heel – for, even if it actually did have a steady supply of 21 million units, it is not a viable currency because the supply won’t track potential nominal GDP growth; hence, prices will become deflationary – the kind of phenomenon that economist Irving Fisher believed caused the Great Depression.

Indeed, the head of the European Central Bank had since declared to the European Parliament that cryptocurrencies are unregulated and “very risky assets. Their price is entirely speculative”. That’s not what we want or need. It’s a pity the FOMO (fear of missing out) of many retail investors will end them in a wild goose ride!

> Over its nine-year history, bitcoin has had five-peak-to-trough falls of more than 70% each. The recent decline offers a dose of reality to new investors – bitcoin dropped to a low US$7,850 on Feb 2 for the first time since November 2017 – crashing 60% from the high of nearly US$20,000 in mid-December. Sentiment has shifted dramatically this year.

On Feb 5, it fell another 4% to US$7,524. Also, the fledging market has taken a number of blows: Facebook has since banned advertisements on it (for being misleading); US Securities and Exchange Commission has accused some latest ICOs as “outright scams”; US and UK largest banks have put up “road-blocks” to financing bitcoins; and the recent Japanese hack theft of 523 million crypto-XEM (worth US$500mil) brought back memories of Mt Gox, which collapsed after a similar hack in 2014.

> Arbitrage traders (buying where it’s cheap and reselling where it is dear) have been active – taking advantage of price differentials in multiple places and different times. They call it “capturing the arb”. Hedge funds, high frequency traders and even amateur enthusiasts are giving it a shot. Price divergences can be due to glitches or network traffic jams. In South Korea, exchanges quote abnormally wide prices reflecting high investors’ demand for bitcoin in the face of strict capital controls – giving rise to a “Kimchi premium” (of as high as 50% above US price; now down to 5% as price disparities are swiftly traded away).

> Concern over cryptocurrency activity is spreading beyond China, Japan, South Korea and India. This prompted the governor of the Bank of England, who also chairs the Global Financial Stability Board, to voice his unease over the anonymity embedded in blockchain technology underlying their use, especially for illicit activity (including money laundering). He disclosed that it would be on the agenda at the next G20 meeting. Tax authorities have also expressed concern over the under-reporting of capital gains tax.

> Bitcoin futures trading on Chicago’s CME and CBoE exchanges have been slow to catch fire – at the pace of a “slow walk”.

What then, are we to do

Reality check: Bitcoin is proving that cryptocurrencies can erase wealth as fast as they create it. In January 2018 alone, it wiped off US$45bil from its US$200bil in market value generated in all of 2017 – the biggest one-month loss in US dollar terms in its short history. Since then, more value is being lost. For most economists and finance experts, they don’t represent an investable asset – there are liquidity issues, safety issues, exchange issues; most of all, they have no intrinsic value.

Can’t realistically put a fix on their fair value. They are for speculators who are prepared to lose everything. Of course, its something else for those who use them for illicit activity (home to criminals and terrorists), including money laundering. Anonymity means you are potentially closing a chain, while at somewhere along it had some illicit activity that cannot see the light of day.

Fair enough, these concern regulators. But we shouldn’t lose sight of the huge range of opportunities presented by the underlying technology – a view shared by many in relation to raising the efficiency of payment systems. Regulators are right to want to regulate crypto but also, continue to encourage innovation on blockchain. As I see it, so far in 2018, bitcoin has been a total dud. The list of factors driving its decline is growing, especially rising regulatory clampdown occurring around the world.

So, the cryptocurrency market has fallen on tougher times. For sure, Bitcoin has been highly profitable for many investors. Indeed, there continues to be strong interest among millennials.

Bottom line: the year so far has been terrible for bitcoin. But the fundamental positive story for crypto appears to remain intact. Protecting consumers should make it harder for charlatans to sell digital dust. There is a point where it goes from “buying on the dip” to “catching a falling knife”. Only time will tell. So, beware!

NB: Following global regulatory crackdown, bitcoin’s price has on Feb 6 fallen to a low of US$5,947, wiping out over US$200bil so far this year. Bitcoin’s market cap is now US$109bil, about one-third of the total crypto market (that’s down from 85% this time last year). The Bank for International Settlements (banker to central banks) has now condemned bitcoin as “a combination of a bubble, a Ponzi scheme and an environmental disaster” (refers to huge amounts of electricity used to create it) and warns it can even become a “threat to financial stability”.

Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: ahbah on February 19, 2018, 11:06:18 PM
Cryptocurrencies are a nascent asset class and could fall violently at any time, the founder of blockchain network Ethereum warned on Saturday.
"Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time," Vitalik Buterin said on Twitter. "Don't put in more money than you can afford to lose."

Buterin added: "If you're trying to figure out where to store your life savings, traditional assets are still your safest bet."
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: Teosh on February 24, 2018, 01:33:46 AM
    比特幣暴跌 难挡ICO热潮

(纽约23日讯)继去年12月创出歷史高位后,比特幣和其他许多数码货幣在最近几个月里暴跌,但这並没有浇灭市场对首次代幣发行(initialcoin offerings,简称ICO)的热情。

研究及数据公司Token Report表示,今年ICO融资规模已达16.6亿美元左右,新上线的ICO项目约有480个,当中已结束融资的只有126个。



Token Report创始人兼首席执行员默尔(Galen Moore)在最新发表的报告中写道,ICO活动短期內不会放缓。

Token Report记录的融资活动只包括已关闭的ICO,意味著Telegram和Block.one这两只规模最大的ICO没有被纳入统计,这两只ICO的融资总额已超过20亿美元,而且还在攀升。

Telegram是运营一款流行在线通讯应用的私营公司。该公司在ICO中已融资8.5亿美元。Block.one去年夏天启动ICO,並且將持续至今年6月份。该公司首席执行员布墨(Brendan Blumer)称,已筹资逾15亿美元。
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: Dasmianor on April 22, 2019, 04:57:00 PM
Variations in the content can not be read without any interpretation.
Title: Re: Bitcoin Investment Trust Could IPO by October
Post by: GRAHAMO on July 26, 2019, 06:04:43 PM
Decent, need to accomplish something like this with mine.