Venture capital investors have invested in Bitcoin $50 million and lost a pair of socks

In 2014, the Studio Planet Money venture capitalist Ben Horowitz argued about the fate of Bitcoin with financial columnist Felix Salmona.

Ben Horowitz, invested his time in Facebook and Twitter invested $ 50 million in startups related to Bitcoin. He believed that Bitcoin will change the world and will fully conquer the market of online shopping.

Felix salmon, financial blogger and cryptomathic, held the opposite view. He published an essay called “the Bitcoin bubble that will surely burst.” Horowitz wrote a commentary to the essay in which the author proposed to make a bet on the future of Bitcoin.

The two forces met in the Studio of Planet Money (NPR) and made a bet of five years. The confidence of Ben Horowitz was based on the understanding that Bitcoin is a major technological achievement, due to which people will be cheaper and easier to buy and sell things through the Internet.

According to Ben, how do I shop on the Internet — basically, using credit and debit cards — is a problem for many enterprises whose business is based on such sales. First, enterprises have to pay the companies making the credit card a Commission of about 2.5% of everything they sell. For some companies it very much. In addition, according to Ben, the company issuing credit cards deny some law-abiding customers because they are considered potential fraud.

Felix was skeptical about the success of Bitcoin. In particular, he was troubled by the fact that the number of bitcoins is limited. And it should mean that over time Bitcoin will become more valuable. In other words, deflation is inevitable. The rising price of Bitcoin will make it inconvenient for shopping on the Internet.

Ben and Felix agreed to meet after the survey, which will give Planet Money an independent company to find out whether the Americans Bitcoin for online purchases. If more than 10% of respondents answered in the affirmative — Ben will win, otherwise the winner will be Felix. The stakes in this dispute have become socks from Alpaca wool, which in 2014 could be bought for bitcoins.

Planet Money recently announced the winner. According to the results of an independent survey among 900 Americans, only 3% of respondents have used the cryptocurrency for payment of online purchases in the last month. Felix salmon won the dispute and a pair of lovely socks.

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JP Morgan: Investors turn to cryptocurrency, only if you lose faith in other assets

Analysts at investment Bank JP Morgan Chase speak about Bitcoin is not as bright as its CEO Jamie Dimon. Recognizing a low correlation cryptocurrency with any other reserve asset, they nevertheless believe that investors pereorientirovanija on cryptocurrencies only in case will be implemented “dystopian scenario”.

Post-capitalist dystopia, according to a note by JP Morgan to clients of the Bank, is a combination of several factors, including the loss of confidence to all primary reserve assets such as us dollar, Euro, yen or gold, and the existing system for payments service in General. Only in this case investors will start to accept Bitcoin and cryptocurrency as a tool of hedging of risks.

Arguments in favor of crypto-currencies as such a tool is the low correlation of the behavior of the stock market and traditional markets. Despite all attempts to find some connection in the behavior of Bitcoin and other assets, evidence to suggest that such a relationship exists, is still there, I believe JP Morgan.

High, which can be say — a little hint at the relationship with individual indicators, such as the index of emerging markets, than in the past year, said Tom Lee of Fundstrat Global Advisors.

However, in the investment Bank believe that overestimate the resemblance isn’t worth it. The behavior of the cryptocurrency, they take off in 2017 and fall 2018, has the most similarities with the cycles of other assets at different times. Something similar happened with gold in the early 1970s, with the Nikkei in the 1980s, and with the shares of American it companies in the 1990s, experts say.

Interestingly, almost a year ago, the same JP Morgan in its report argued that investors refrain from investing in cryptocurrency is not due to the fact that waiting for the implementation of the “dystopian scenario”, and in the absence of a simple and the usual tools. Such as exchange traded funds, or ETFs, which the Bank called “the Holy Grail” for the stock market.

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Having failed with the ETF, the Winklevoss brothers offer retail investors a new product

Cameron and Tyler Winklevoss can serve as an example sports. After an epopee with their request to open a bitcoin ETF, rejected by the Commission on securities and exchanges (USA), and lost the appeal, the founders of crypto currency exchange Gemini not left trying to attract the attention and money of retail investors.

Tyler and Cameron Winklevoss against the backdrop of universal recession and depression, a record increase the state of their crypto currency exchange, has recently moved to a new office, demonstrate confidence and are filled with a variety of plans. Even an unfortunate misfire in ETFs has forced them to abandon the idea to bring in the cryptocurrency industry unskilled retail investors.

Instead of ETF attention this category of investors proposed mobile application and new cryptocurrency Fund. Application the product is more versatile because it is equipped with options both for the clients of the exchange with experience, and new users, which can help, for example, easily and quickly pass the KYC procedure.

But the new Fund Cryptoverse, users can also access the application is more for beginners. As in many other similar products, we are talking about the Fund with reference to a basket of exchange traded coins. This is Bitcoin, ether, Litecoin, zcash for and recently added Bitcoin to Cash.

Neither the application nor even a special Fund available to its users, are not something revolutionary new — like instruments. But it’s a pretty iconic item to Gemini, still fokusirovka on the development of technology and infrastructure based on institutional investors.

“Development of products based on individual approach to the needs will be largely trend-2019,” — said Tyler Winklevoss.

The brothers emphasize that the decline in the market they are not particularly scary and are confident that their business will survive this crisis.

“For many years we have built a Gemini, and the course did not play a role. Bitcoin was worth $ 200. Last year it was more of an anomaly, a deviation from the norm,” said Cameron Winklevoss.

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Information portal for investors launches service for job search in cryptosphere

Information portal for cryptocurrency investors, ICO Bazaar, will soon launch a platform to search for potential talents in the cryptocurrency sphere. The official release is scheduled for the end of August, and, reportedly, over 300 companies are ready to provide the applicants with about a thousand jobs.

The platform will be free for candidates and employers get a month free trial, available before the official launch. Future payment for using the platform is not yet known, but it will be comparable to current market rates:

“We expect from our customers reviews about trial period to help us determine the future value of services”

Some of the ICO team has already used the platform to find new talents, among them Orca Alliance, and Oxygen Trade Token Modern Agency.

Explaining his decision to launch a new service, the team ICO Bazaar told about the sharply worthwhile for talent needs:

“Every ICO project has 2-3 open positions, and, as we see, they are all listed on ICO Bazaar, also there is a huge demand for talent in the field of blockchain. We investigated and found that the demand for blockchain-specialists in 2017 have increased by 115%, and the market there is a shortage of professionals, both technical and content experts.”

Earlier this year we reported that, although interest in cryptocurrency work peaked in December 2017, and then began to decline, requests for blockchain position remained high. The top ten necessary skills included: developer, recruiter, programmer, Senior IT Director of Digital Strategy & Innovation, Java developer, C # developer, senior QA engineer, architect solutions and proposals, senior designer and finally project Manager.

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Institutional investors are buying XRP at a record low price

CEO Ripple brad Garlinghouse says that the investors on wall street are buying XRP at a record low price.

During a session of questions and answers, which was held live on YouTube Arlinghaus said that in the next quarterly report will be published all the details about how many XRP were sold to institutional investors.

As always, we will publish a quarterly report, from which it becomes clear how great the interest in XRP by institutional investors.

Arlinghaus drew attention to the openness of Ripple that the company owns 60% of the total XRP, of which about 91% are currently blocked.

Ripple will continue to focus on solving real problems, and transparency. We are creating a more transparent ecosystem. And in this we have succeeded more than the other players of the cryptocurrency market. For example, nobody knows how Ethereum is in the hands of large investors. We’re just more transparent in this regard.

With regard to institutional investment in the cryptocurrency space in General, Arlinghaus said that it seems that the big players start to show interest.

The ICE announcement about the launch of cryptocurrency platform Bakkt, I think, points to a General direction. I think that there will be more players and this is a good sign. This indicates the maturation of the industry. We see that the major participants in the market, I think it’s a big step forward.

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ERC-20 tokens become available for institutional investors

Prime Trust, a small financial company from USA which played a significant role in creating stibal koina on the basis of Stellar, said about going out on the custody services market.

The company, without much fanfare, began to offer services for cold storage of bitcoins back in mid-July, and next week will announce a new service – cold storage of any token on the basis of ethereum (standard ERC-20).

Such services are in demand by institutional investors who, despite the current bear market, begin to work on the cryptocurrency markets, but don’t want to worry about the security of private keys and/or are required by law to hire the services of certified companies for storage assets.

This niche has attracted many major players in the financial market of the United States. Among them are giants such as Northern Trust, Goldman Sachs and Intercontinental Exchange (ICE), owner of the new York stock exchange. Cryptocurrency startups such as Coinbase, BitGo and Ledger, are also active in this market.

But Prime Trust said that the fact that they are a startup gives them certain advantages:

It’s a trillion companies from the Fortune 100 is very rigid.

Scott Purcell CEO claims that his company will be first to offer services for custodial storage token ERC-20.

Purcell says that his team managed to solve the “huge technical issue” after talking with the developers of the standard ERC-20 in the conference in Barbados.

We have made a technical breakthrough and now we can easily provide storage of any token ERC-20 (along with BTC and ETH, of course).

In theory it’s simple, but in practice this is very difficult to achieve due to the different nuances of each token, therefore, no one does. Still no one did.

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Only 2% of American investors own bitcoins, but 26% “intrigued” with this asset

The results of the survey Wells Fargo/Gallup published July 27, indicate that only two percent of American investors invested in bitcoin, but 26 percent of them expressed extreme interest in the asset.

An online survey was conducted from 7 to 14 may 2018 among the American investors with assets of more than US $ 10,000 in stocks, bonds or mutual funds. The results show that the vast majority of investors who have heard about bitcoin in the near future will be to invest in the cryptocurrency, and 72 percent said that “they are not interested in buying bitcoins”.

According to the survey, despite the fact that 96% of investors have heard about bitcoin, “only about three out of 10 investors (29%) said that they have some knowledge about digital currencies,” 67% said that they had heard about them but do not understand the subject well enough.

Despite the fact that initially bitcoin was supposed to be used as money, its high volatility made it “more popular as an investment with a good risk reward ratio”. The results of the survey show that 75% of respondents believe that investing in bitcoin is a “very risky” and 23% believe it is “somewhat risky”.

A study conducted in February showed that 8 percent, or about 26 million Americans who have already purchased the cryptocurrency.

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Coinbase announced the launch of services in custodial storage for institutional investors

The largest cryptocurrency exchange and wallet in the US, Coinbase announced the beginning of providing custodial services for institutional investors.

At the end of 2017 Coinbase has announced its plans to the custodian and direction on the project “Coinbase Custody”. Thus, the company sought to solve the “number one problem” for institutional investors.

Coinbase already is the Keeper of the cryptocurrencies of its customers amounting to more than $ 20 billion, but the new service will be implemented through an independent broker-dealer Electronic Transaction Clearing (ETC), which is a member of FINRA, and all operations which comply with the standards of SEC.

Thus, institutional investors have access to the custodian services for the storage of cryptocurrency in accordance with all standards of the Commission on securities and exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA).

This means that institutional investors from the US and Europe can now store your cryptocurrency assets in Custody Coinbase, which currently supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Coinbase says it plans to add new assets and also make your services available to Asian investors before the end of the year.

The company claims that Coinbase Custody applies a range of security measures, including the “network separation cryptocurrency assets,” “Autonomous, multi-segmented and geographically distributed transaction protection”.

It is reported that, along with cold storage wallets that have yet to be approved by regulators, the company plans to use “safe, separated hot wallets” to provide greater freedom of action of investors.

Coinbase Custody is the first project of such level-oriented cryptocurrency investors.

The company actually tries to become a broker-dealer is in full compliance with SEC standards, thanks to the recent acquisition of firms in financial services, as well as the desire to obtain a Federal banking licence

Coinbase has also recently announced its plans to exit the Japanese market of cryptocurrencies.

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50% coins Metronome, cryptocurrency Jeff garzik’s, was in the hands of three investors

Former Bitcoin Core developer, Jeff garzik’s, during the ICO project Metronome had sold almost half of the available tokens only to three investors.

Data from blockchain Ethereum confirmed holding a giant transaction that caused the outrage of potential investors who failed to buy tokens.

Metronome was first announced Bloq, garzik’s development of the blockchain, in October 2017, when the cryptocurrency market was in the early stages of a parabolic rally in the fourth quarter. Metronome (MET), according to supporters, was to become the first cryptocurrency focused on “institutional class.”

The developers decided to limit the emission of 10 million tokens Metronome, of which 8 million were available during the ICO. The rest were kept company Bloq. The sale was carried out by holding the “downward price” auction in which the price per token is reduced with time.

However, complaints in social networks began to appear even before the end of the sale (June 25):

“In the last minutes there was a very large whales,” commented one Reddit user, showing three transactions, about 3.3 million tokens. One of the “whales” has acquired almost 2 million tokens per transaction.”

While garzik’s Blog and have to comment on ICO, criticism is amplified more and more, focusing on the discontent of garzik’s structure “vast majority” altcoins, of which he himself said a few years ago.

ICO often come under fire because of discrepancies in the distribution of tokens and bad sales management. The developers of the project Civic in July of last year even distributed their tokens through a randomized queue, trying to avoid the “whales”.

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The number of women investors in bitcoin has doubled since the beginning of the year

Over the last six months the number of women considering investing in crypto currencies has increased from 6% to 13%, according to the newspaper City A. M.

The material is based on the market research conducted by the British cryptocurrency exchange London Block Exchange, which shows that cryptocurrency is the most popular among women, Millennials, among whom approximately one fifth are willing to invest in them.

The study also clearly demonstrates the difference in how invested men and women, and women profess a more strategic approach, because they are 50% less likely than men to suffer from the “fear of missed opportunities” (FOMO). In addition, the study shows that women are more prone to cooperation than men because they are twice as likely to consult family and friends about their potential investment in comparison with men, who statistically prefer to “go it alone”.

Earlier studies conducted cryptocurrency exchange etoro show that until recently the industry was dominated by men: men accounted for 91.5% of all investors, women accounted for only 8.5%.

However, a senior analyst at the London Block Exchange Agnes de Royer believes that this trend may change. For словамCity A. M., Royer said:

Still there is a common misconception that cryptocurrencies is a game for men, but we see over the last few months only on our exchange have registered hundreds of women and some of the most inspiring and knowledgeable investors, which lead the industry for a women.

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