Bitcoin: Commodity, Store of Value or Digital Currency ...
Bitcoin: Commodity, Store of Value or Digital Currency ...
Bitcoin Has Held Over $10k for Nearly Two Weeks: What ...
Deconstructing the Bitcoin Market Cap by Vinny Lingham ...
Vinny Lingham Says Bitcoin May Blow Through $10K, Test ...
Vinny Lingham: Bitcoin is Close to Being the Global ...
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Many people have strong opinions on Bitcoin, but does anyone really know where the digital currency is going? At Fortune’s recent Brainstorm Finance conference, we put the question “What’s the future of Bitcoin?” to seven CEOs—and one COO. The executives, who lead companies both inside and outside the cryptocurrency space, offered up a series of snappy answers you can watch in the 2 minute and 30 second video above. We’ve also compiled portions of their responses: Hikmet Ersek, CEO of Western Union, who is confronting blockchain companies that claim to challenge his company’s money transfer business: “Blockchain is definitely an interesting processing model. Coins and currencies have to be shipped by central banks—that’s what I believe. It has to be controlled by governments. … Bitcoin I don’t think has a long run.” Sallie Krawcheck, CEO of Ellevest and a former top executive at Bank of America, had a refreshingly direct take: “I have no idea. Anyone else think they know?” Amber Baldet, former blockchain executive at JP Morgan who now runs the blockchain start-up Clovyr: “[Bitcoin] technology is out in the wild and is being learned from and modified and, in some incarnation, the problems that it solves and the things people need from it will stick around.” Jeremy Allaire, CEO of long-established cryptocurrency payment service Circle, said: “The role of Bitcoin is growing as a non-sovereign digital store of value that is private and un-censorable.” Vinny Lingham, CEO of blockchain idea management service Civic: “Some people see Bitcoin as a store of value—everyone should be buying it to hold it and prevent against a global meltdown of governments. Others people believe Bitcoin is meant to be a cryptocurrency for peer-to-peer payments.” The CEO of buzzy credit card start Brex, Henrique Dubugras, said: “I believe it will be a better way to store value in countries where the currency is pretty volatile.” Barry Silbert, the CEO of Digital Currency Group and investor in dozens of crypto startups: “Bitcoin has all the same attributes as gold … What Bitcoin lacks in history and, arguably, cultural significance, it more than makes up in accessibility and utility.” Adam White, COO of the New York Stock Exchange’s crypto venture, Bakkt, had this to say: “What we previously saw only in the domains of sovereign nation states—like money—now via technology and software, we can now do and accomplish in a decentralized way.” * More Details Here
For the price of bitcoin, the summer was anything but smooth. Markets boomed on news of 'the Brexit', tapered off through the long-awaited halving and tumbled on the news yet another exchange had been hacked. Since then, the price has fluctuated between $550 and $600, returning to the "relative" calm observed earlier in the year. But given bitcoin's historical volatility, analysts are already beginning to question what may trigger bitcoin's next big price swing. As we head into the fall and winter months, a diverse set of theories are beginning to emerge about conditions that could either boost the price, or see it return to its 2015 lows. Institutional approval Among the potential triggers cited by analysts, the emergence of a bitcoin exchange-traded fund (ETF), an investment vehicle that generally tracks a basket of stocks or commodities, was perhaps the most often discussed. Many market observers have been watching the status of two proposed ETFs with great interest, but for a while, there wasn't any reason to hope for developments. However, excitement for a potential market first has grown in recent weeks following the July announcement of the SolidX Bitcoin Trust and amid new filings by the Winklevoss Bitcoin Trust. The approval of either could represent a milestone for the bitcoin community, analysts say, as the ETFs would enable authorized participants to issues shares tied to real bitcoin holdings, which could be a catalyst for new liquidity. Daniel Masters, director of Global Advisors Bitcoin Investment Fund (GABI), noted recently that many commodities have enjoyed sharp increases in price and more robust trading activity once ETFs based on the underlying assets hit the market. He wrote in an August blog post: "From the early 2000s onward, there was a proliferation of ETFs covering all manner of commodity interests. In each and every case – for gold, silver, oil, natural gas, platinum, copper and even indices – the advent of the ETFs led to higher prices, more trading volume of futures and cash exchanges and higher levels of commodity futures open interest." Should either ETF receive approval, bitcoin could enjoy a notable increase in liquidity. It was this variable that Du Jun, co-founder of Chinese exchange Huobi, singled out as potentially driving the digital currency's price higher. "Bitcoin's liquidity depends on the future of bitcoin's value and investors' expectation to a large extent," Du said. Technical improvements Yet another potential boost for the bitcoin price could come in the form of a long-awaited resolution to the "scaling" debate. Currently, blocks of transactions on the bitcoin blockchain have a storage size of just 1MB. As this puts a limitation on the number of transactions the network can process (and therefore, some argue, adoption), there has been a sometimes messy and contentious drive in the community to change it. But due to the tricky specifics of how a change to this hard-coded limit would need to be enacted, no consensus has yet been reached. Still, that doesn't mean solutions aren't on the way, the most notable of which is Segregated Witness (SegWit), an upgrade that recently saw a preliminary code release. While promising for the network, though, analysts seemed less enthusiastic about SegWit’s potential impact on bitcoin prices. Cryptocurrency investment fund manager Jacob Eliosoff, for example, said investors have likely already priced in the coming change as it was announced in December and originally expected to be deployed in April. "SegWit's release seems too gradual and widely expected (not to say overdue) to really bump the price," Eliosoff said. Tim Enneking, chairman of investment manager EAM, struck a similar tone, adding: "I don’t think SegWit will have anything more than an incremental and marginal impact on BTC prices, at least in the short term." Post-Halving pressures In one of the more unique claims, investor and entrepreneur Vinny Lingham singled out the halving of rewards on the bitcoin network as a potential influence. The prediction may be surprising given that a planned technical change the reduced the mining reward from 25 BTC to 12.5 BTC took place earlier this summer, largely without fanfare. But while bitcoin prices experienced little change this July, Lingham asserts its true impact has not yet been felt. In the next two-to-four weeks, forces resulting from the shift could cause the digital currency to surge, he said. As detailed in a recent post, miners who aren't turning enough profit, he contends, may soon be forced to buy bitcoin from exchanges, an event he said was likely to trigger a "short squeeze", or a sharp increase in the price based on the lack of available supply. He wrote in May: "It’s the same as selling crops in the futures market and then being hit by a storm that wipes out half of your fields. The only way, technically, that this doesn’t happen, is if the price doubles on halving day (it won’t)." Financial (in)stability Finally, some predicted bitcoin's next major price event would be dependent on the stability of the global financial system. Traders have repeatedly flocked to the digital currency in times of crisis, leading many market observers to label it a risk-off asset or even a "digital gold" that appeals during times of economic stress. In the past, bitcoin has benefitted from situations such as the 'Brexit', as well as during periods of economic volatility in Greece and Cyprus. It remains debatable how much of these increases is based on real capital flight, but there is still widespread belief that such events could come to be a powerful influencer going forward. Huobi's Du spoke to this matter, telling CoinDesk that when the global financial system experiences volatility, investors will "look for more safe-haven investments" like bitcoin. Another variable remains government responses to the digital currency. If major countries accept bitcoin, analysts said, it will affect both the currency's trading activity and value. Source: coindesk.com If you are interested on bitcoin trading visit our website Houbi.com. We are one of the largest BTC-USD, BTC-CNY trading platform in the world. HUOBI OFFERS FREE BTC-CNY/LTC-CNY TRADING, 24*7 CUSTOMER SERVICES AND SECURE PROTECTION FOR USER ASSETS. Welcome to trade on HUOBI.COM! 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Propy - Revolutionary Global Property Store with Decentralized Title Registry
What is Propy ? Propy is proposing a new decentralized global real estate market with a unified real-time transaction interface approaching the functionality and speed of electronic stock market exchange platforms. It will allow real estate assets to become liquid while providing users with greater control and protection of their property rights to those provided by the government in whose jurisdiction the real estate asset is located. Propy is building a new ecosystem of token holders, brokers, governments and end users incentivized to support the transition to a seamless, secure and globally recognized P2P transaction ecosystem. Our Story Our Journey with Propy began when we realized that real estate transactions are incredibly slow, with poor price discovery mechanisms. The real estate market is a $217 trillion market that is highly centralized and balkanized. There are no international standards or comprehensive technology for electronic property rights transfers. Each country maintains its own registry and establishes national (or local) rules for property deed registration and transfers. Legacy land registry systems were developed to handle local investors but they are ill equipped to handle international value and ownership transfer. This leads to a less than optimal experience for many people on both sides of the marketplace. We realized that the problems laid out above could be solved by smart contracts that execute real estate ownership transfer, combined with a sleek user interface to allow for engagement with the blockchain, and a defined protocol to ensure transactions occur in compliance with local regulations. So we started developing Propy Registry: a blockchain endowed with a suite of smart contracts to track and execute real estate transactions according to regional regulations, as well as PRO: a utility token that would be required for asset transfer and other on-chain events. The Propy Process : How does Propy Work? Propy’s development team has designed a real estate transaction tool powered by smart contracts. The Propy transaction tool combines solutions from legal, Blockchain and payments industries. By using Ethereum, Propy allows each party including the broker, buyer, seller and title agent/notary - to sign off on a transaction using a private key within the existing legal framework. The scope of our current prototype is to be narrowed to prioritize for the fast adoption in one of our first markets in the US. It complies with the existing legal framework we will further refer to the US legislation and particularly the legacy and flows in California relative to real estate purchases. Under the Propy “end goal” model, every single step of the transaction, from the initial property reservation, through the signing of the purchase agreements, to the delivery of the title deeds, would be recorded on blockchain and executed with smart contracts. However, we also recognize the significant limitations of blockchain technology and are building a multi-stage solution to be gradually phased in over time. The Propy team works actively on several fronts to ensure that we are building the correct solution that can solve real problems while also complying with all regulations. PRO: The Propy Utility Token The PRO token is built on the ERC20 token standard to allow for both simple integration into users’ wallets.. During the token sale, a fixed amount of PRO is created. Afterwards, no more shall be minted. PRO is required for interaction with the Propy Registry. Specifically, if a user wants to change ownership of a title or register a new title, then the transaction fee for writing that data to the blockchain must be paid in PRO. Additionally, Propy Utility Token holders receive the right to vote on the price of those transaction fees, and voting power is proportional to the PRO owned. Propy will distribute PRO to governments and similar institutional clients, allowing them to engage with Propy Registry. Tokens paid for writing data to the Propy Registry are stored in a special fees smart contract on the Ethereum blockchain. These aggregated amounts of tokens are added to the network growth pool, explained below. The fees contract generates a token distribution snapshot every month and distributes fees for the quarter according to the snapshot. The snapshot is stored in the blockchain, so anyone can verify that PRO from fees were distributed correctly. Here are some statistics of the Token structure and distribution:
Total Supply: 100,000,000
Initial Sale Price per PRO Token: $1
Token Type: Utility Token
Token sale distribution: 35% - token sale / 35% - network growth / 15% - donations / 15% - development team
35% of the tokens will be distributed over period of time to achieve network growth, particularly to potential homebuyers and brokers so they join Propy as well as to governments to incentivize them to make the first amount of ownership transfers at Propy Registry. Token Sale: Propy will be holding its first ever token sale on July 25th! Don’t miss out on this once in a lifetime opportunity to be a part of Propy’s global property store! Revenue generation Now you are probably wondering, how will Propy generate revenue via its title registry platform? Propy has a very simple and scalable business model. When a property is purchased, Propy takes a small percentage (starting from 0.2% and averaging 1%) of the final purchase price. Propy charges brokers per transaction. The payment is initially processed in fiat and cryptocurrencies will be phased in for the jurisdictions where possible. With the market for all cross-border real estate deals amounting to $340bn, the addressable market for Propy is more than $3.4bn annually. Future of Propy Currently, the first iteration of the Propy DApp (which includes a centralized interface and decentralized smart contracts running in the backend) partly decentralizes the existing real estate market . It reduces reliance on a number of intermediaries required for transactions involving US-based properties and eliminates the risk of fraud. But Propy aims for a transition over time toward a pure P2P decentralized system). We like to call it P2P2: Peer-to-Peer Property Purchase. Based on our 12 years of cross-border property transaction experience, we anticipate emerging markets, hungry for investment and less encumbered by entrenched interests, will see the quickest transitions to a pure peer-to-peer framework. Propy has already begun the process of accelerating this transition across multiple metropolitan markets. As a first product developement step Propy has released the listing platform in the form of an iOS app and web-site into production and tested it with early adopters. We recognize the significant challenges of technology adoption and are building a multi-stage solution to be gradually phased in over time. The Propy team works actively on several fronts to ensure that we are building the correct solution that can solve real problems while also complying with all regulations. We aim to help propel real estate into the ecommerce era and revolutionize the industry by creating an interconnected network of token holders, brokers, governments and end users. Brokers and real estate corporations will use the system to more easily access foreign buyers and to close transactions instantly and securely online. Governments will be able to use this technology to demonstrate the transparency of their real estate market and enhance their attraction of foreign investors and consumers – buyers and sellers - will be able to trade real estate assets in real time faster, cheaper and more securely. We welcome your interest and support to make this dream a reality. Meet the Team! Natalia KaraynevaCEO and Founder Bio: Ms. Karayaneva has over 12 years of experience in real estate development. She has a Masters degree in Sustainable Urban Development form Oxford University and founded her first company at 19. Andrey ZamovskyiChief Blockchain Architect Bio: Mr. Zamovskyi is the founder and CEO of Ambisafe, a full ICO service provider, managing many successful ICOs such as Polybius, Taas and Chronobank. Alexander VoloshynCTO Bio: Mr. Voloshyn has 14 years of experience working for Apple and Ubisoft in executive technical positions . He specializes in mobile development and cybersecurity . Maria AngelovaCFO Bio: Ms. Angelova is the former CFO of BNP Paribas , one of the largest international banks in the world, present in 75 countries with over 30 million customers John WongBusiness Development in China Bio: Mr.Wong is the former VP of Wells Fargo San Francisco, one of the largest banks in America and has experience as a real estate investment manager. He is also the portfolio manager for Oberweis funds in China. Denitza TyufekchievaBusiness Development In Europe Bio: Ms. Tyufekchieva is a blockchain advocate who has founded the real estate platform for The Eastern Europe Region Our main advisory board has also been finalized! Michael Arrington from TechCrunch - Michael is the founder of TechCrunch, the world’s leading technology media property covering the latest tech news from Startups to reviewing the newest Tech products. David Kottke from Apple Inc. - Davis is one of the first employees at Apple Inc and one of the original members of the Macintosh development team. Vinny Lingham form Civic - Vinny is the CoFounder and CEO of Civic, an identity protection and management startup that has a decentralized blockchain structure to help business protect and control their identities . David Cowan form Bessemer Venture Partners - David is a partner at Bessemer with a diverse portfolio of founding startups all around the world from Singapore to New Zealand and launching the firm’s practices in cloud infrastructure, consumer tech, cyber-security and space tech. Mike Costache from d10e - Mike is the Co-chair at d10e, the leading conference on Decentralization. Bruce Cahan from Stanford University - Bruce is the Consulting Professor at Stanford’s School of Engineering and a Distinguished Scholar at mediaX. Jeremy Gardner from Blockchain Capital - Jeremy is the Entrepreneur in Residence at Blockchain capital, the first VC fund entirely dedicated to the Blockchain ecosystem and the cofounder of Augur. We are very excited to be working with such an exemplary and experienced advisory board! Bounty Campaign We have just launched our Bounty campaign! PROPY offers a total 2% of all tokens released during the token sale for all bounty campaigns. As a reward participants are to receive PROPY tokens. 10% of the bounty pool to be allocated to this campaign. Register now and we will contact you soon to discuss your participation! Get Social with Us! Website Twitter Facebook Telegram: t.me/propy BitcoinTalk CoinTelegraph
The token economy or economy tokenization? For the last six months a lot has been said on this topic... My 2 satoshis on the topic. Do you have to tokenize any project to be efficient, or this is simply a passing du jour? Even in some advanced countries ICOs have no legislative framework to act within, whereas in other countries people are not afraid to invest into token projects and become millionaires overnight. Token issuers carry out cutting edge projects — cutting through all the credit organization red tape. Let us brush up on our vision of token economy and its modus operandi. According to Pablo Moreno de la [email protected]: “We call ‘tokenomics’ the design of a token and the set of rules of the economic ecosystem where it will be used. The key idea is that through a design based on game theory and incentives, the use of the token becomes desirable by all stakeholders of the ecosystem: clients, suppliers and the sponsors of the token.” The key concepts of the new economy are the well-known terms: blockchain, cryptocurrency (Bitcoin, Ethereum, Altcoin), mining, hash, token (equity tokens and utility tokens), ICO (TGE), smart contracts… Maybe we could just to call its cryptoeconomy, or blockchain-economy as they are the base of the concept — cause token is just a by-product, an encrypted record in a decentralized distributed database. Behind each token there is a project. Behind every project is a team. And the team needs The Plan. I guess token should be an example of “the chase is better than the catch” and actually get incorporated into some feasible long-term plan. Mind this — I do not want the new economy to be regulated to death. The fact is: each ICO is to be followed by the implementation of the project according to plan. It's really important for the token (unless it is a scam) to integrate into the common economic realm and start circulation outside of its project. Thus decentralization and independence of the token from the project, its infusion into as many fields of interchange as possible, guarantees its longevity. You really want to see your token fly even after the parent project's conclusion! Maybe that is why Bitcoin goes up? Some of bitcoin killers are dead and gone whereas bitcoin is reaching new highs... Ildar Mukhametzhanov states the same: “It’s crucially important to implement the token usage in day-to-day market. Our token is going to be used as a payment system for a range of services. Blockchain database of customers and service providers will ensure the timely and proper work of the platform. It means that you will never have to google again.” What is more important — Idea or Team? Vitalik Buterin clearly stated that the Team goes first. From classical economics we know that different types of teams are required for different stages of BD (business development). Startup would benefit profit from managers with one set of strong points and day-to-day business — from managers with a different mindset! Tezos ICO tells a similar story: Greed of the few can ruin it all for everyone... And I should remind you that there are some founders whose only interest in project is fund raising. But they were off with such a good start... And their project had such a nice blockchain (idea)! So a blockchain project can actually be snake oil. If we analyze most ICO projects, picking at random from any ICO tracker, we will see that there are dozens of projects piggybacking blockchain. Well, every family has its black sheep! Vitalik Buterin also voiced his reasoning on this topic: “Tokens of many projects have no real value, and their only goal is to attract money.” Let us ask ourselves a question — is blockchain the requirement for a new project? “The cost to setup a virtual currency, with the security of mining, processing of transactions and the need for a team of cryptographers is prohibitive for most companies, even if only from an economies of scale perspective (every company does not have to run a blockchain). Luckily today, with the advent of token technology, this becomes more straightforward and cheaper by building on top of pre-existing crypto infrastructure”. (Vinny Lingham, co-founder and CEO of Civic ). He is seconded by Vitalik:“If your team is scam, please don't do ICO.” That was his first idea. His second idea is: If your token is not irreplaceable — replaced by ether. Blockchain is a more-or-less trustworthy medium for not only for financial transactions (thus pusing banks to the curb), but a solid choice for creation and storage of various databases:
classical stock exchanges securities;
insurance claims and payments;
fines for any offences;
copyright for all art forms;
digital identification documents (especially for refugees);
personal health record...
However there are several operating blogging platforms and social networks. Use in logistics: supply chain tracking. Some online shopping sites are powered by the blockchain. One can even create a voting system on blockchain thus eliminating even the distant possiblility of vote data tampering. "Blockchain technologies are changing the way the world functions and tokens appear to be yet another killer app, for now. If we’re able to move land registry & title deeds, identity, commodities and stocks to the blockchain, we will succeed in making the world far more efficient and secure. I believe this is just the beginning of the co-founder and CEO of Civic). So, to sum it all up, the token economy will help us to create our Brave New World, for better or worse. It means we will be sitting on Big Brother's lap all the time though...
A blog by Vinny Lingham. Sign in. A blog by Vinny Lingham. ... and if businesses cannot be assured that the Bitcoins they received the previous day will help them replenish their stock, then they will be unwilling to accept it and risk their livelihoods. ... Bitcoin has come a long way since the highly volatile early days, for a number of ... Vinny Lingham, CEO at Civic.com and bitcoin analyst who has offered insightful analysis and accurate price predictions for bitcoin over the past few years, stated that bitcoin has proven its worthiness as a digital commodity. It was evident that traders and investors used bitcoin as a digital commodity as an alternative to traditional assets. Vinny Lingham Interview: Scaling, Securities and Bitcoin Extremism April 24, 2018 clublaura_e7xtqv One of bitcoin’s leading luminaries, Vinny Lingham has an opinion on everything and an uncanny ability to sense market movements, earning him the moniker of Bitcoin Oracle. Civic CEO Vinny Lingham forecast the Bitcoin price to remain below $5000 for at least three to six months this week as sentiment throughout the industry Bitcoin price will remain under $5000, said Civic CEO, Vinny Lingham, who expects at least three to six more months of 'crypto winter.' According to Civic CEO, Vinny Lingham, Bitcoin’s immediate future does not hold any amazing economic growth, rather it seems as though the currency is destined to largely remain ‘range-bound’ for the coming 6 months (during which the premier alt-asset could even slide below the $3,000 mark). Speaking about the ongoing financial crisis on CNBC’s Fast Money, Lingham implied many times ...
Blockchain Interviews with Vinny Lingham, Co-Founder and CEO of Civic
Scaling Cryptocurrencies: Bitcoin & Bitcoin Cash, A Tale of Two Coins The gold market (Store of Value) is estimated at $7 trillion and the currency market (Medium of Exchange) is over $100 trillion. Consensus 2018 Civic's Vinny Lingham and Anheuser-Busch debut crypto beer vending machine - Duration: ... Why Civic CEO Lingham Reduced His Exposure to Bitcoin ... My 3 Stock Portfolio ... Here Vinny takes us through the creation and design of Bitcoin and explains how its technology and concept can be expanded to influence so much more that jus... What's the significance of Bitcoin? Is it money or does it mean something larger for our lives? Vinny Lingham, Gyft CEO, explains the history of money, how to scale trust and the underlying ... Aug.31 -- Vinny Lingham, Civic co-founder and chief executive officer, explains why he reduced his exposure to Bitcoin. He speaks with Bloomberg's Caroline Hyde on "Bloomberg Technology."