Regulators from Japan, Sweden and Singapore came together at the Singapore FinTech Festival to talk about what they've learned in the journey of …
**On Today’s Episode Of The Cryptoverse:** Coinbase CEO Brian Armstrong made an official statement to clarify the team’s stance and viewpoint on hard fork contingency involving Bitcoin Unlimited. The news segment begins at 6:30 Today’s episode is sponsored by TunnelBear. the simple VPN app that makes it easy to browse the web privately and enjoy […]
The post Coinbase Declines to Sign Bitcoin Unlimited Rejection Letter (The Cryptoverse #234) appeared first on Digital Money Times.
**On Today’s Episode Of The Cryptoverse:**
Coinbase CEO Brian Armstrong made an official statement to clarify the team’s stance and viewpoint on hard fork contingency involving Bitcoin Unlimited.
The news segment begins at 6:30
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Since then, the first cryptocurrency firm to be granted a derivatives clearing organization (DCO) license by the CFTC has posted a $1 million day, …
Correlations between traditional finance and cryptocurrency are not hard to find these days. Investors want exposure to Bitcoin but without most of the risks. Speculation on the Bitcoin price is their main objective first and foremost. New investment vehicles on Switzerland’s Six Exchange AG may provide the solution people have been asking for. It allows … Continue reading Six Exchange AG Offers New Speculative Certificate for Bitcoin Price Watchers
The post Six Exchange AG Offers New Speculative Certificate for Bitcoin Price Watchers appeared first on NEWSBTC.
Correlations between traditional finance and cryptocurrency are not hard to find these days. Investors want exposure to Bitcoin but without most of the risks. Speculation on the Bitcoin price is their main objective first and foremost. New investment vehicles on Switzerland’s Six Exchange AG may provide the solution people have been asking for. It allows investors to profit if the Bitcoin price dips while limiting loss risk at the same time.
Betting on the Bitcoin price is always a major gamble. Some people may call it “investing”, but it is gambling of the purest kind. Enough shorts against Bitcoin can easily trigger a price decrease. However, there is always a certain risk associated with this process, as cryptocurrency markets are unpredictable. Two Swiss companies have come together to create a new mainstream solution. Their product can be traded on Six Exchange AG. It provides investors with “bearish” opportunities. Rest assured there will be some great interest in this product moving forward.
A New Mainstream Speculative Bitcoin Price Vehicle
More specifically, the demand for Bitcoin certificates is increasing. This is especially true in Switzerland, for some unknown reason. While speculation on price increases is common, the market can swing the other way as well. Giving investors an option to hedge their positions or go short in a mainstream fashion is pretty interesting. Vontobel AG claims this is the best decision given current market demand. An interesting approach, although the success remains to be determined.
Providing this opportunity to regular investors is pretty significant. It will introduce more people to the world’s leading cryptocurrency as well. If all of these people go short, the momentum may turn against Bitcoin. It may not impact the price right away, though. Given the price gains during 2017, opening a short seems logical. Then again, the Bitcoin price set a new all-time high earlier this week. A very unpredictable market to take advantage of, that much is certain.
The most interesting aspect is the limited loss potential. This new vehicle has a multi-month maturity. At the same time, investors can exit early like any other instruments. It remains to be seen how much interest there will is in this new product, though. Initial feedback seems to be positive, which is to be expected. We see more crossovers between traditional finance and Bitcoin these days. That can only be considered to be a positive trend, all things considered.
Header image courtesy of Shutterstock
The first ever LedgerX long-term bitcoin futures option pegs the cryptocurrency price at $10,000 by next December.
LedgerX just initiated its first long-term bitcoin futures option.
Called a Long-Term Equity Anticipation Security (LEAPS), the trade was matched by the platform this morning and is set to expire on December 28, 2018.
Under the terms of the deal, the buyer has the right to buy bitcoin at a price of $10,000 at that date, or almost a 30 percent premium on today’s price.
Yet, because the buyer only makes money if the price is more than $10,000 (called the strike price), the investment can be seen as a reflection of the level of confidence that the price will reach that level by the agreed upon date.
Such long term futures options have long been seen in the industry as a much needed sign of maturity, and could in part help pave the way for even more institutional money to enter the space.
In an exclusive interview with CoinDesk, LedgerX CEO Paul Chou sought to position the milestone as just the first of many more before the cryptocurrency market can truly be considered mature.
„There will be, I expect, a lot more trades down the line. This is the first one, but it at least gives you the first guess from different institutional traders as to what bitcoin’s dynamics will look like from now until 2018.“
The trade option was listed by LedgerX late Friday night, and to Chou’s surprise, two institutional investors agreed to the terms of the deal just one day later.
Under the terms, the buyer agreed to a price of $2,250.25 for the trade, meaning the seller collects that money if the price is less that $10,000 by the end of next year, and the buyer gets to purchase bitcoin at the strike price if it is higher.
Unlike a futures swap however, the buyer is not obliged to purchase the asset.
„If the price goes to zero, you don’t have to pay $10,000 for it,“ Chou said. „But if a year from now it’s at $20,000, then you can exercise your options.“
Based on LedgerX’s own calculations (made using the Nobel-prize winning Black-Sholes financial markets model), the startup believes there is a 25 percent chance that bitcoin will reach that level in the allotted time.
While this is the first LEAPS financial instrument matched by New York-based LedgerX, they’ve been conducting increasingly high trade volumes since their soft launch a month ago.
As reported by CoinDesk, LedgerX traded $1 million in bitcoin derivatives its first week of trading, ending Oct. 20.
Since then, the first cryptocurrency firm to be granted a derivatives clearing organization (DCO) license by the CFTC has posted a $1 million day, a $1.6 million day and on November 15, a record $2.6 million day.
Since LedgerX listed the LEAPS option at 5:30 Friday evening, Chou says they saw an additional $500,000 traded before midnight. „That’s for a holiday week too,“ he said. „So we were shocked.“ He estimates the company has conducted approximately $16 million in notional bitcoin transactions to date.
While the startups numbers seem to indicated active early interest, legacy institutions such as the Chicago Mercantile Exchange (CME Group) and the Chicago Board Options Exchange (CBOE) have both recently revealed their own similar plans.
Though Chou hopes to maintain his first-mover advantage, he said there’s no hard date to launch into full operation. Rather, his team wants to make sure the platform scales well beyond the 1 million messages it sends per day before this milestone. He says he’d be „surprised if that takes „more than a month,“ concluding:
„But it might be sooner.“
Crystal ball image via Shutterstock
The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at firstname.lastname@example.org.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
Blockchain business in Slovenia: laws, opportunities, and prospects. How beneficial is the country’s environment for investors and startup organizers? Is this ecosystem developed, and what do the laws say? These issues will be revealed by speakers of Blockchain & Bitcoin Conference Slovenia. Among the invited speakers: Jure Pirc, the President of Blockchain Association … Continue reading An International Blockchain & Bitcoin Conference will take place in Slovenia!
The post An International Blockchain & Bitcoin Conference will take place in Slovenia! appeared first on NEWSBTC.
Blockchain business in Slovenia: laws, opportunities, and prospects. How beneficial is the country’s environment for investors and startup organizers? Is this ecosystem developed, and what do the laws say? These issues will be revealed by speakers of Blockchain & Bitcoin Conference Slovenia.
Among the invited speakers:
- Jure Pirc, the President of Blockchain Association Slovenia
- John Collins, Head of Red Flag USA – Global communications and strategic consultancy
- Yuri Sidorovich, the Managing Partner and Forensic leader for Deloitte’s Adriatic Region
- Matjaž Slak, Evaluations Team Lead at Cofound.it
- Vit Jedlicka, President of Liberland
- Aleks Bozhinov, Business Coach. Serial Entrepreneur. Ex-Googler
The conference will allow participants to discuss stages of the blockchain and cryptocurrency acceptance in Slovenia, prospects of their integration in various business, financial, and government control areas, as well as the legal regulation.
One of conference novelties is a startup speech: each participant of the innovation exhibition will be able to make a brief presentation of their projects in the conference room. It is an excellent opportunity for startups to be heard and for investors to find prospective projects for investing.
The conference will include a panel discussion about the blockchain regulation in Slovenia. Guests will be able to listen to opinions of government officials, leaders of the Blockchain Association of Slovenia, and consulting company specialists.
Date of the event: December 12.
Venue: Dunajska cesta 18, 1000 Ljubljana, Slovenia (Ljubljana Exhibition and Convention Center)
Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.
The post Internet Archive Enables Donations With Zcash, Bitcoin Cash And Bitcoin appeared first on CryptoCoinsNews.
Since cryptocurrency relies on the Internet, cryptocurrency users have an interest in supporting a free and secure Internet. Internet Archive, a non-profit created to build an Internet library, gives cryptocurrency users a way to protect their holdings by donating to the organization.
As a non-profit created to build an Internet library that offers permanent access to historical collections in digital format, Internet Archive has announced that it is now accepting donations in Bitcoin Cash and Zcash, in addition to bitcoin, which it has been accepting since 2012, according to the organization’s blog.
Internet Archive states on its website that donations will help ensure that the Web is free, secure and backed up for all time.
User Request Drove Decision
The decision to accept Bitcoin Cash was driven by a tweet from UKcryptocurrency, an organization that provides guidance on cryptocurrency and secures cryptocurrency with cryptography, to accept Bitcoin Cash. The link was active within hours of the request.
Bitcoin Cash was created as a bitcoin hard fork and was launched on Aug. 1, 2017 by miners and developers who wanted to ensure bitcoin could scale properly.
Zcash offers both selective transparency and privacy on all transactions. Users have the option of using a transparent address or a shielded address that keeps the sender, receiver and amounts private.
Donation Addresses Listed
The Internet Archive Bitcoin Cash address is 12PRZjrLo5yqnHMmUCtPUse4kCyuneby3S.
The Internet Archive Zcash address is t1W6JqMECmbqmDGZ9uLSXWQZ6EgxFkfuty8.
The Internet Archive bitcoin address is 1Archive1n2C579dMsAu3iC6tWzuQJz8dN.
Internet Archive encourages developers to add media to its site, and to consume and repurpose media and metadata. Items on Internet Archive are directories or folders of files that include originally uploaded content, including text, video, audio, etc., in addition to any derivative files Internet Archive creates from the originals and the metadata that describes the item.
Overstock board member, Jonathan Johnson, has revealed the top five U.S. states that most frequently conduct purchases using cryptocurrency.