Secondmarket to launch a New York-based Bitcoin Exchange.
In the midst of all this noise about mt.gox dying, some good news. Secondmarket is launching a real US based Bitcoin exchange. LINK. Finally, the professionals are taking over. No more magic the gathering incompetence. It's gonna be a new era in Bitcoin trading for everyone!
SecondMarket to launch first New York-based Bitcoin exchange - "These members are expected to include Wall Street banks and well-funded Bitcoin startups. Non-member firms or individuals would not be allowed to trade -- at least at the outset -- but likely could do business via the member firms."
TLDR: Bitcoin will win in the end and volatility is not an issue.
It seems like the most common argument I see against bitcoin is the day to day volatility makes it a bad currency. Even though it still has all the features built in necessary to be used as a transactional currency I agree that at this point it is still too volatile. This talk does a good job of explaining the growth cycle of bitcoin and why this volatility is to be expected and will settle down over time. Bitcoin has to grow in market cap by several orders of magnitude before it can really be a stable store of value and that takes time but I believe it will happen because it has better characteristics of money than anything else that exists currently. That is all it needs, to be slightly better than current money and over time it will be adopted just like how gold took over for thousands of years as the most trusted form of money because it was the only thing that had the fundamental characteristics of money. Currently it would be better to think of bitcoin as a commodity, as it grows volatility is decreasing and eventually it will level off once it has reached market saturation and there are better exchanges for liquidity and arbitrage in place (Second Market, Fortress, ETF, etc.). Once it has reached market saturation it should be relatively stable as compared to other fiat currencies (USD, EUR, CNY, etc.). Some core features of bitcoin that make it different (and better) than any other currency on the planet; 1) Open source - The full bitcoin source code is posted on github and available to anyone for review. It is an open source protocol just like TCP/IP, HTTP, SMTP, etc. that anyone can contribute to and improve. This means bitcoin is highly adaptable and flexible and can be improved over time and have new features integrated into it. Eventually people will be using bitcoin without even realizing it, just how they use the protocols I just mentioned whenever they access a webpage or send an email. 2) Decentralized - I would invite you to watch this segment by Chris Odom on the relation between bitcoin and bittorrent. Basically bitcoin cant be shut down because there is no central point of failure. 3) Deflationary & Divisible - Bitcoin is hard coded at a limit of 21,000,000 bitcoins ever and each bitcoin can be divided into 100,000,000 units. That means that each unit has the ability to expand to hold a near endless amount of value and since there is a hard cap on the total supply the demand is what dictates the price of individual units. 21,000,000 may seem like a lot of but if bitcoin were to take over just 10% of the value of gold (not to mention remittances, wealth storage, tax havens, dark markets, etc.) it would have to swell to well above $10,000 or even $100,000 per unit. It really is a modern day gold rush because there is only so much that will ever exist. It really takes weeks of research to fully understand what makes bitcoin a better form of money. I have done my best to break it down and simplify it but there is really so much more to it (I haven't even discussed the fact that it opens up automated contracts, direct property transfer, zero trust voting, autonomous corporations, etc. etc. etc. there is a whole world of potential that was never before possible because people couldn't figure out zero trust systems. This problem has been solved and the world will never be the same, you cant uninvent bitcoin just like you cant uninvent the internet, the car or the nuclear bomb. It exists now and there is no going back). If it is something that interests you I would highly recommend digging deeper as I have only scratched the surface. If not, feel free to ignore it, it will keep doing its thing behind the scenes, slowly (or maybe very very quickly) chipping away at the current model.
SecondMarket Holdings, a New York firm that facilitates investments in privately held companies, is planning a U.S.-based regulated exchange for bitcoin investors, the company's founder and chief executive, Barry Silbert, said on Tuesday. Silbert said the new exchange will be modeled after the New SecondMarket made an announcement that it would get into the bitcoin exchange business earlier this year, and this is a new landing page to attract accredited investors through its website. Bitcoin price today is $13,073.32 USD with a 24-hour trading volume of $23,603,626,066 USD. Bitcoin is up 0.48% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $242,210,721,011 USD. It has a circulating supply of 18,527,100 BTC coins and a max. supply of 21,000,000 BTC coins. You can find the top exchanges to trade Bitcoin listed on our crypto exchanges page ... Barry Silbert, founder and CEO of New York-based alternative investment marketplace SecondMarket, has confirmed he will be spinning off the entity’s bitcoin businesses into a separate organization dedicated to the exchange of digital currencies, and that this new business aims to be operational by this summer.. Silbert told CoinDesk that he will serve as CEO of the as-yet-unnamed entity, and ... Bitcoin Futures Exchange CME Is Seeing New Highs The Chicago Mercantile Exchange has overtaken BitMEX on the Bitcoin futures open interest charts. Binance is still king when it comes to daily trading volume. By Decrypt Staff. 3 min read. Oct 23, 2020 Oct 23, 2020. Bitcoin. Bitcoin is the largest cryptocurrency by market cap. Image: Shutterstock . In brief. BitMEX is slipping in the Bitcoin ...
Bitcoin: Bubble or Boom? (Jeremy Allaire, Barry Silbert, Olaf Acker) DLD14
Educate yourself on how to trade Bitcoin correctly, just like I have done. If you take all 3 levels, the last level is jaw-dropping as you will learn how to buy stocks for free. Get a $50 discount ... Private company stock is far and away SecondMarket's most high profile class of available assets. Founder and CEO Barry Silbert shares SecondMarket's background in serving as an exchange for ... South Korean bitcoin exchange Youbit hacked for second time this year, files for bankruptcy. SecondMarket is a registered broker-dealer (Member FINRA, MSRB and SIPC). SecondMarket was recently selected as a 2011 Technology Pioneer by the World Economic Forum in Davos, Switzerland. For ... A talk about bitcoins with Jeremy Allaire (Circle), Barry Silbert (SecondMarket/Bitcoin Investment Trust), moderated by Olaf Acker (Booz digital). DLD (Digital-Life-Design) is a global network on ...