Bitcoin Goes Public?


#1

Just got an email from crowdability:
"Bitcoin Goes Public
By: Wayne Mulligan

Bitcoin’s had a rough go of it lately.

In November 2013, the digital currency traded at nearly $1,000.

Today, it trades at about $250 — that’s a 75% plunge.

Could two major events in the coming weeks serve as catalysts to propel bitcoin’s price higher?

Possibly…

But as you’ll learn in a minute, we’ve identified an even better way for you to profit from bitcoin’s potential.

Growing Pains

If you wanted to buy bitcoin today, you’d go to an online “bitcoin exchange.”

These exchanges are just websites – and while they’re useful for small trades, they lack the level of technology and compliance functionality that institutional investors like JP Morgan or Goldman Sachs require.

As just one example of a compliance “mishap,” look at what happened to Tokyo-based Mt. Gox:

Mt. Gox used to be the largest bitcoin exchange on the planet.

Then, late last year, Mt. Gox was suddenly forced to declare bankruptcy.

It soon admitted that more than $409 million in customer funds were lost.

A Noble Partnership

But now, thanks to a recent partnership between the NASDAQ and a New York-based company called Noble Markets, everything is set to change for the better.

The NASDAQ has agreed to license Noble Markets its core securities exchange technology. Noble Markets will use this technology to power a sophisticated new bitcoin exchange.

Noble is headed up by an industry veteran named John Betts. Formerly, Betts spearheaded the development of electronic trading platforms at Goldman Sachs, Morgan Stanley and UBS.

Once this new exchange is launched, many folks believe that individual investors might find the confidence to enter (or re-enter) the bitcoin market – and it’s possible that institutions might finally start getting involved, too.

If this scenario plays out the right way, this potential influx of new capital could provide a substantial near-term catalyst for higher bitcoin prices.

But there’s also another short-term catalyst that could cause bitcoin prices to go higher…

Bitcoin Goes Public

Next week, a new bitcoin fund is set to begin trading.

It’s called the Bitcoin Investment Trust, and it will trade under the symbol “GBTC.”

The fund currently holds over $100 million in bitcoin.

It will allow investors to speculate on the price of bitcoin – and they won’t even need to hold the underlying currency.

Technically, GBTC isn’t considered an ETF (it’s more like a closed-end fund), but it will be the industry’s first exchange-traded vehicle that tracks the digital currency.

Many are calling it “bitcoin’s golden moment” – the moment when bitcoin finally goes mainstream.

A Better Way to Play Bitcoin

While either of these announcements might cause an upswing in bitcoin’s price, we’ve identified what we believe is a better way to play the digital currency trend…

The excerpt below is from a recent research report we published on this unique opportunity:

"There are two ways to make money during a “gold rush.”

Mine for gold, or sell picks and shovels.

History has shown that you can make money doing both…

But selling picks and shovels provides solid returns with less risk.

To employ the “picks and shovels” strategy with bitcoin, you’d invest in one
of the hundreds of companies that have cropped up to service this explosive,
new market – from new bitcoin exchanges, to secure applications that store
their value.

If you believe in the long-term potential of bitcoin, but can’t stomach the
short-term volatility, this is precisely where you should be looking for
opportunities."

In this research report, we provide readers with a specific investment idea they can use, right now, to invest in a basket of these bitcoin “picks and shovels” companies.

And to thank you for being a loyal Crowdability reader, we’re giving you access to this report today, for free.

You can view this report in its entirety here »

We hope you enjoy it.

Please send us your feedback and questions in the comments below this article.

Happy investing."

-Any thoughts on this greatly appreciated- Cryptosmack out /waiting for replies


#2

Thanks for sharing! This made me smile:

In November 2013, the digital currency traded at nearly $1,000.
Today, it trades at about $250 — that’s a 75% plunge.

The author forgot to mention that BTC was trading at $24 not long before it’s marathon to $1,000. Funny how people always tend to take the highest value ever when drafting up a price comparison.


#3

I Know right :slight_smile: or someone could say it was simple a market correction what ever the hell that means lol


#4

The bit that gets me is the author of this piece is still appealing to the get rich quick crowd, looking for any reason or excuse to trumpet the adoption of BTC as a reason it’s value could sky rocket.

Which, of course, would lead to another burst bubble.

Give me a stable (enough) price, any time, and I’ll be happier. I also suspect that a stable price would do far more to aid adoption than another huge jump in value, which would only bring in and hurt a further round of speculators and would probably put back adoption by another year or two.

Imho. :slight_smile:


#5

i shared, because i get a lot of these “insider resource reports” in various types of marketing, all aimed to just snatch your hard earned money leveraging your desire to grow your income by their “guesses”, at best, for what is going to happen in any new industry.
Wolves in sheeps clothing i tell ya~JG


#6

The Winklevi are starting their own exchange, Gemini. BTW cryptosmack is right. It only takes two bars to make a trend, and there are a lot of bars in a year. In the 1990’s I phoned in over 1500 real-money S&P 500 futures trades and ended up losing $30,000 to the pit vipers.


#7

i think we are still a good 3-5 years out before main stream acceptance, lets face it, this is still the wild wild west, and until measures are in place, we so called “settlers” are not going to get the type of oversight, and trust we need to go at this full scale. Its mainly why i am actively working on a POI algo, since i believe that we can and will create something that has complete interlocking, sorta AI like intelligence that sniff out the liars or ill gotten gains within the system. I just dont believe in bigger govt is all, think its already treading in personal space, but time tells all and i actually commend the Winklevi, someone has to do it, just like POI


#8

I think you’re probably about right, there is still a lot of time before we see what we could refer to as mainstream acceptance…each of us is doing what we can, with what we know, to set the foundations and roll out the infrastructure that’ll mke that possible though :slight_smile:


#9

There is an idea to make the system that could accept cryptocurrency for shops.
With easy integration and registration without any documents.
Let’s start with Bitcoins, but we’re going to expand services to the other cryptocurrencies.

How do you think, will this kind of measure support the expansion of the Bitcoin to the wider audience? Do you personally need this kind of a service?


#10

What system are you referring to? I’m always interested to hear what people have got in the pipeline regarding rolling out infrastructure, as, gods know, there isn’t enough of that happening yet.


#11

I meant some billing for online shops and etc. Taking in mind the implementation simplicity and low rates to make it much more easy to add BTC/LTC/… payment options.


#13

Ahh, I see now :smile:

There’s a good bit of competition now between various payment processors, which is a good thing, and most if not all of them allow merchants to decide to keep some of their xbt as crypto instead of converting it for their local fiat. The options you mention though, while being very simple to implement for us that know how it works, are still foreign, alien and scary to folks that don’t get in to it too much, and that’s more what’ll hold merchants back from using it imo. Education is the key there :slight_smile:

Nice to meet you too, welcome to the forum :smile:

Reg the number of devs and coders here, don’t worry, not everyone here can mash keyboards, there’s a whole variety of folk here with a massive variety of skills and knowledge and insight. For my part, I can barely tie my own shoelaces without dribbling, but I like to blag my way through conversations :slight_smile:

Now that sounds interesting. A bank in a grocery store, offering bitcoin wallet integration. Where about are you in the world? Roughly speaking, of course. No need to hand over your address lol

There’s effort being put in to rehabilitating bitcoins image in the public eye as we speak…as for people getting used to it…yeah, that’s still a bit of an issue. Imo, there needs to be ways to simplify it to the point anyone can use it, safely and without needing to figure anything out. Talk of private keys, public keys, multisig transactions, blockchains and backing up wallet.dat files is enough to terrify most people out of even trying. Unless they’ve got a pretty fundamental reason for their interest, it’s that sort of thing which still acts like a major barrier to entry. That said, there’s also work being undertaken to make using bitcoin possible in such a way that people may never even know that that’s what they’re using. It just takes so damned long.

A cautionary note (keeping in mind this is just my opinion) - while it could go up again, I think there’s fair reason to believe that it’s current price range, where it’s been sat for quite a while, is actually just enough for it to be worth while mining, any higher and we’d see more data centers coming back on line, mining and dumping for profit, dampening any price increases.

I think the chance to make a good deal of easy cash from mining is probably gone and the future lies in providing services that utilise bitcoin and build on the eco system. Building the infrastructure that’ll help make this a globally accepted method of payment is probably the best bet to earn money from it over the next year or two, I reckon.

That said, I could be wrong, but that’s where my thoughts lead me at the moment :slight_smile:

The ones which seem most popular are the ones which work towards providing people with anonymity. I personally don’t think alts will overtake bitcoin (there’s others here who feel differently) as any features which are truly useful and beneficial can and likely will be built in to the core bitcoin protocols over the coming years, despite the fact that doing so would be a massive headache now. Sidechains, if they are ever implemented, would basically allow for bitcoin to adopt any characteristic of any other alt, so anything which the alt scene is working on now is probably going to be snatched up and built on top of the big daddy of the crypto world.

Again, just my opinion, others here probably would disagree with me :slight_smile:


#15

[quote]NEW YORK, May 11, 2015 (GLOBE NEWSWIRE) – Nasdaq (Nasdaq:NDAQ) today announced plans to leverage blockchain technology as part of an enterprise-wide initiative. Nasdaq will initially leverage the Open Assets Protocol, a colored coin innovation built upon the blockchain.

In its first application expected later this year, Nasdaq will launch blockchain-enabled digital ledger technology that will be used to expand and enhance the equity management capabilities offered by its Nasdaq Private Market platform. Nasdaq’s blockchain technology will offer efficient, fully-electronic services that facilitate the issuance, transfer, and management of private company securities. Fredrik Voss, Vice President at Nasdaq, has been named the company’s Blockchain Technology Evangelist to lead the strategic development of this initiative for Nasdaq. [/quote]

http://www.nasdaq.com/press-release/nasdaq-launches-enterprisewide-blockchain-technology-initiative-20150511-00485


[SCAM] GAWMiners, Paybase, ZenCloud
#16

Yeah, there’s definitely a lot of major attention been thrown that way now, and there’s a lot of money being put in to it, so with so much vested interest there’s going to be a lot more people being switched on to bitcoin. A lot of the current money going in is investing in infrastructure and services which should make it more userfriendly. Who knows, maybe when there’s enough simple to use solutions more people might buy in and eventually we could indeed end up with higher unit value :smile:

It’d be interesting to find out. Did you ask them about their offering? If not, next time you’re there, find out what you can and let us know over here, there’s a few folk that’d be fascinated by developments like that :slight_smile:


#18

Yeah heard about it before. Nice thing if you want to do BTC wallet extreme.

Funny enough “this” is how the Bildenberg group envisions the future.


#19

its all fun and games until some street thug is cutting you open or chopping off limbs to get your wallet


#20

This is going to change marriages!!! Multi signature wallets in each spouse’s body and they have to AGREE on every purchase from that account!


#21

Agreed but then again it would be your stupid if you told anyone :wink:

Yeah right… divorces should be fun too…


#22

It definitely coincides with their supposed NWO campaign, but I think they probably had something different in mind for their one-world-government one-world-currency. Bitcoin is either going to stay anonymous and decentralized, or it’s going to die.

With the way they are using the actual encrypted transactions as the main factor for security (as well as the storage on the www) and how unfathomably large the blockchain has become, there’s no way that it can die. It is invincible in it’s www fortress. What are the financial institutions going to do about the anonymity? What if they never do anything because they can’t? They’ve been in debate over that issue for over a year now, with no ideas. I think they have been beating a dead donkey. Bitcoin now has it’s own slot on the NYSE (NYXBT). And though everyone refers to it as ‘cryptocurrency’, ‘currency’, ‘digital currency’, It’s written into the public trading view as a commodity, and not a currency, based on the way it behaves.

"From NextWeb Insider 2015:

In an interview with Wall Street Journal, [Oliver Bussmann, group chief information officer of Swiss bank UBS] said: “I believe — and this is my personal view — that blockchain technology will not only change the way we do payments but it will change the whole trading and settlement topic.”

Bussman believes that blockchain technology has the potential to trigger “massive” simplification of banking processes and cost structure. He added: “When somebody with a strong brand and security level establishes it as a reliable service, then the whole industry will follow. That is my personal prediction.”

Banks are getting undressed

The total service offerings of banks are stripped by the so called FinTechs. Or ‘unbundled’ as the VC’s from Silicon Valley like to say. Parts of the bank are turned into stand-alone products that are delivered to the consumer at a scale and cost that no traditional bank can match.

This unbundling happens on two fronts. Top-down there are FinTechs that piggy back on the traditional payments and transaction solutions for fiat currencies. On top of these networks they focus on, “enhancing customer experience, increasing convenience and streamlining the process of using bank and card payment networks.”

The downside of this development is that banks loose their ability to manage customer experiences by themselves. Banks are moving to the bottom of the value chain.

Bottom up FinTechs meanwhile are threatening the market from a cryptocurrencies-point of view. They not only bring finance and technology together, but also reinvent the entire financial system."

Financial institutions will have no choice but to embrace decentralization and anonymity. Pretty much takes care of the whole NWO thing. Take that, Illuminatti! As for the whole ‘mark of the beast’ thing?..Come on, people, Santa Claus and the Easter bunny AND the Tooth Fairy all know that’s a bunch of crazy talk.

Publicly, Bitcoin is reaching more people–by a factor of God knows what–who have never heard of it and absolutely love it, than there are cumulatively who have known about it and are inhibited by it’s dark origins. This is because the technology being used is an innovative breakthrough of a caliber along the lines of the wheel, sliced bread, and the internet itself.

I would seriously recommend reading that whole article as well as the referenced WSJ articles. There’s some seriously lucrative sh^t about to hit the fan, and if you’re paying attention you just might get some on you.


#23

Yes they do, of course. Bitcoin is not an option because it’s beyond their control. It would have to be a currency the world banks can control and I doubt that people would be able to “mine” it. It wouldn’t surprise me though if it gets build on the blockchain protocol or something similar.

As for NASDAQ, it’s rather exciting to see them venturing into the open assets protocol. I can see this functioning very well on the stock exchange since NASDAQ has the funding to setup and maintain the network with plenty of nodes and basically instant tx confirmation.

Financial institutions will have no choice but to embrace decentralization and anonymity. Pretty much takes care of the whole NWO thing.

Won’t happen. Our monetary system is build on debt. If we all were to pull all the cash (we allegedly own) from our bank accounts the monetary system would collapse. This is why certain groups in Germany are for example pushing for the move away from paper money since the debt in the system can continue to inflate for decades to come, paper money can’t.