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submitted by Micro_lite to Bitcoin [link] [comments]

DeFi Glossary - Draft glossary for yEarn Documentation

Hey everyone. I'm one of the many yEarn community volunteers. Besides doing volunteer Tier 1 tech support here at this early stage, I'm also one of the volunteer technical writeengineers for this community project. I write SOPs and procedures as one of my engineer hats at my day job.
This should be helpful for newbies. It's a WIP and a first draft, but I would also appreciate feedback on the current list, and suggestions on new terms that should be included on what we're hoping will be a definitive glossary and reference for the DeFi space.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Algorithm - A set of instructions that follow predetermined commands and rules. Computer algorithms can operate at near lightspeed and have massive speed advantages over manual methods.
Blockchain - An immutable permanent public record or ledger of all transactions during the history of a cryptocurrency coin or token.
Cryptocurrency - A form of digital currency that is protected by powerful encryption algorithms that is represented as a digital coin or token. Cryptocurrency coins are programmed to have a minting, release, reward and distribution system, governance system, and ability to make future changes. These digital coins or tokens include a ledger or blockchain record of all transactions that occur on their respective networks.
DeFi - Decentralized Finance is at its root a set of smart contracts running independently on blockchains such as the Ethereum network, that may or may not interact with other smart contracts and even other blockchains. The goal of DeFi is to enhance the profitability of investors in DeFi systems and networks through the use of automated smart contracts which seek to optimize yields for invested funds.
Ethereum - Bitcoin is the original cryptocurrency but Ethereum, which came later, allows for much more complexity through the use of smart contracts. It is what is called an ERC20 coin, and it has a large number of cryptocurrency coins such as LINK, CRV and YFI that have used this protocol and set of rules to launch their own cryptocurrency coins on the Ethereum network.
Fair Launch - TBD
Financial Primitive - A cryptocurrency based financial generic building block. Financial Primitives are designed to efficiently and reliably perform one task. Financial Primitives may be combined to create smart contracts. These smart contract may even be stacked upon one another in order to implement financial trading strategies.
Insurance Primitive - A term coined by YFI Developer Andre Cronje, this is a tokenized form of insurance represented as yInsure-type tokens. The token itself provides opportunities for investors to be able to provide crypto insurance to any base asset. Andre states: "The design of this system allows any asset that has a financial primitive to be insured, be it a base asset such as DAI, or a composite asset such as aDAI or yDAI." Investors of yInsure provide Liquidity to be used to execute crypto insurance smart contracts. In return, investors hope to provide an insurance service and profit from this service.
Lending Aggregator - A program or set of smart contracts that algorithmically and automatically seeks and chases the best lending rates for depositors to loan out for their coins for a profit.
Primitive - A generic building block.
ROI - Return On Investment. The gains or losses on an investment. For example, doubling your investment worth would be a 100% gain. Losing all of your investment would be a 100% loss. The latter is not recommended and should be avoided at all costs.
Smart Contract - (working on this next)
yEarn - A programatically adjusted lending aggregator. It is also a shorthand name for the yEarn Finance ecosystem.
YFI - The governance token for the yEarn Finance ecosystem and suite of tools. YFI was the first Fair Launch token, meaning that there was no Founder, Venture Capitalist or early investor pre-mining program to privately claim a portion of a coin's supply. YFI was Fair Launched on July 20, 2020 with an intial price of $34.53, according to Coingecko.
yVault - A programatically adjusted lending aggregator, arbitrageur, and optimized yield farmer. yEarn smart contracts are considered simpler and lower risk than their yVault cousins. In comparison, yVault smart contracts are considered more complex and higher risk, but in return they tend to yield higher Returns On Investment.
...lots more to come. I'd love to hear some suggestions about what other terms should be included. Mahalo!
submitted by CryptoOGkauai to yearnfinance [link] [comments]

Blockchain.com Launches Full Turkish Lira Banking Integration as a Native Payment Gateway for Turkey (copied and pasted from bitcoin(dot)com scamsite so no link, sorry).

Blockchain.com Launches Full Turkish Lira Banking Integration as a Native Payment Gateway for Turkey
Blockchain.com has launched a full banking integration for Turkish Lira (TRY) to create a native payment gateway for users to deposit and withdraw Lira on its trading platform. With this development users in Turkey no longer have to incur high fees and conversion rates from third-party payment processors. Turkish traders have consistently been one of the most active countries on the company’s exchange since it launched last Summer.
Native Turkish Lira Gateway
Blockchain.com, the well-known provider of cryptocurrency products with over 40 million wallets created to date, has launched a full banking integration for Turkish Lira (TRY) to create a native payment gateway for users to deposit and withdraw Lira on the Blockchain.com Exchange. Turkish users can now go from account creation to buying crypto without having to use a third-party payment processor. On the trading platform, Turkish people can now deposit, withdraw, and use TRY to buy bitcoin BTC, ETH and USDT and convert their crypto into the fiat currency of their choice.
“Turkey is one of the countries leading the charge to embrace cryptocurrencies, but its traders have only been met with high fees and poor service,” says Peter Smith, Co-founder and CEO of Blockchain.com. “Blockchain.com is dedicated to providing a fair, global market for Turkey’s crypto traders, and setting a new standard for the service they should not only expect, but demand from exchanges.”
Economic concerns regarding the stability of the local fiat pushed cryptocurrency adoption in Turkey to grow faster than in most countries. At the start of the year it was reported that Turkish authorities, alarmed by the rapid spread of cryptocurrencies in the country, are ramping up efforts to introduce greater oversight into the sector.
Local media revealed that regulators are under pressure to increase supervision because of the growing popularity of decentralized crypto assets among Turks. Turkey has an estimated 1 million investors, according to local reports, and a fifth of Turkish respondents in last year’s Global Consumer Survey by Statista said they used or owned crypto, as news(dot)Bitcoin(dot)com reported in June 2019.
Blockchain.com Exchange
Blockchain.com is one of the most trusted companies in the digital assets space, and has raised over $70 million in funding from investors such as Lightspeed Venture Partners and Google Ventures. It is also known for being friendly to the BCH community, integrating the cryptocurrency into its services. About a year ago, for example, the company launched a Bitcoin Cash block explorer that allows users to search for detailed information on specific BCH blocks, check whether a transaction has confirmed, view the balance of a wallet address, monitor market prices, and even watch real-time network transactions.
Recently it launched a retail exchange focused on high speed performance. Since launching in August, the Blockchain.com trading platform has continued to adopt new features and assets. It now supports deposits and withdrawals in Pounds, US Dollars, Euros, and Turkish Lira, and is available in 190 countries. In the last two months, the venue has launched an API for algorithmic traders, listed the crypto project Algorand, and listed the gold-backed token DGLD, increasing its asset offering to 36 live trading pairs.
submitted by castorfromtheva to Bitcoin [link] [comments]

The Great Bitcoin Bull Market Of 2017 by Trace Mayer

By: Trace Mayer, host of The Bitcoin Knowledge Podcast.
Originally posted here with images and Youtube videos.
I just got back from a two week vacation without Internet as I was scouring some archeological ruins. I hardly thought about Bitcoin at all because there were so many other interesting things and it would be there when I got back.
Jimmy Song suggested I do an article on the current state of Bitcoin. A great suggestion but he is really smart (he worked on Armory after all!) so I better be thorough and accurate!
Therefore, this article will be pretty lengthy and meticulous.
BACKGROUND
As I completely expected, the 2X movement from the New York Agreement that was supposed to happen during the middle of my vacation flopped on its face because Jeff Garzik was driving the clown car with passengers willfully inside like Coinbase, Blockchain.info, Bitgo and Xapo and there were here massive bugS and in the code and miners like Bitmain did not want to allocate $150-350m to get it over the difficulty adjustments.
I am very disappointed in their lack of integrity with putting their money where their mouths are; myself and many others wanted to sell a lot of B2X for BTC!
On 7 December 2015, with Bitcoin trading at US$388.40, I wrote The Rise of the Fourth Great Bitcoin Bubble. On 4 December 2016, with Bitcoin trading at US$762.97, I did this interview:

As of 26 November 2017, Bitcoin is trading around US$9,250.00. That is an increase of about 2,400% since I wrote the article prognosticating this fourth great Bitcoin bull market. I sure like being right, like usual (19 Dec 2011, 1 Jul 2013), especially when there are financial and economic consequences.
With such massive gains in such a short period of time the speculative question becomes: Buy, Hold or Sell?
FUNDAMENTALS
Bitcoin is the decentralized censorship-resistant Internet Protocol for transferring value over a communications channel.
The Bitcoin network can use traditional Internet infrastructure. However, it is even more resilient because it has custom infrastructure including, thanks to Bitcoin Core developer Matt Corrallo, the FIBRE network and, thanks to Blockstream, satellites which reduce the cost of running a full-node anywhere in the world to essentially nothing in terms of money or privacy. Transactions can be cheaply broadcast via SMS messages.
SECURITY
The Bitcoin network has a difficulty of 1,347,001,430,559 which suggests about 9,642,211 TH/s of custom ASIC hardware deployed.
At a retail price of approximately US$105/THs that implies about $650m of custom ASIC hardware deployed (35% discount applied).
This custom hardware consumes approximately 30 TWh per year. That could power about 2.8m US households or the entire country of Morocco which has a population of 33.85m.
This Bitcoin mining generates approximately 12.5 bitcoins every 10 minutes or approximately 1,800 per day worth approximately US$16,650,000.
Bitcoin currently has a market capitalization greater than $150B which puts it solidly in the top-30 of M1 money stock countries and a 200 day moving average of about $65B which is increasing about $500m per day.
Average daily volumes for Bitcoin is around US$5B. That means multi-million dollar positions can be moved into and out of very easily with minimal slippage.
When my friend Andreas Antonopolous was unable to give his talk at a CRYPSA event I was invited to fill in and delivered this presentation, impromptu, on the Seven Network Effects of Bitcoin.
These seven network effects of Bitcoin are (1) Speculation, (2) Merchants, (3) Consumers, (4) Security [miners], (5) Developers, (6) Financialization and (7) Settlement Currency are all taking root at the same time and in an incredibly intertwined way.
With only the first network effect starting to take significant root; Bitcoin is no longer a little experiment of magic Internet money anymore. Bitcoin is monster growing at a tremendous rate!!

SPECULATION
For the Bitcoin price to remain at $9,250 it requires approximately US$16,650,000 per day of capital inflow from new hodlers.
Bitcoin is both a Giffen good and a Veblen good.
A Giffen good is a product that people consume more of as the price rises and vice versa — seemingly in violation of basic laws of demand in microeconomics such as with substitute goods and the income effect.
Veblen goods are types of luxury goods for which the quantity demanded increases as the price increases in an apparent contradiction of the law of demand.
There are approximately 16.5m bitcoins of which ~4m are lost, ~4-6m are in deep cold storage, ~4m are in cold storage and ~2-4m are salable.
(http://www.runtogold.com/images/lost-bitcoins-1.jpg)
(http://www.runtogold.com/images/lost-bitcoins-2.jpg)
And forks like BCash (BCH) should not be scary but instead be looked upon as an opportunity to take more territory on the Bitcoin blockchain by trading the forks for real bitcoins which dries up more salable supply by moving it, likely, into deep cold storage.
According to Wikipedia, there are approximately 15.4m millionaires in the United States and about 12m HNWIs ($30m+ net worth) in the world. In other words, if every HNWI in the world wanted to own an entire bitcoin as a 'risk-free asset' that cannot be confiscated, seized or have the balance other wise altered then they could not.
For wise portfolio management, these HNWIs should have at least about 2-5% in gold and 0.5-1% in bitcoin.
Why? Perhaps some of the 60+ Saudis with 1,700 frozen bank accounts and about $800B of assets being targetted might be able to explain it to you.
In other words, everyone loves to chase the rabbit and once they catch it then know that it will not get away.
RETAIL
There are approximately 150+ significant Bitcoin exchanges worldwide. Kraken, according to the CEO, was adding about 6,000 new funded accounts per day in July 2017.
Supposedly, Coinbase is currently adding about 75,000 new accounts per day. Based on some trade secret analytics I have access to; I would estimate Coinbase is adding approximately 17,500 new accounts per day that purchase at least US$100 of Bitcoin.
If we assume Coinbase accounts for 8% of new global Bitcoin users who purchase at least $100 of bitcoins (just pulled out of thin error and likely very conservative as the actual number is perhaps around 2%) then that is approximately $21,875,000 of new capital coming into Bitcoin every single day just from retail demand from 218,750 total new accounts.
What I have found is that most new users start off buying US$100-500 and then after 3-4 months months they ramp up their capital allocation to $5,000+ if they have the funds available.
After all, it takes some time and practical experience to learn how to safely secure one's private keys.
To do so, I highly recommend Bitcoin Core (network consensus and full validation of the blockchain), Armory (private key management), Glacier Protocol (operational procedures) and a Puri.sm laptop (secure non-specialized hardware).
WALL STREET
There has been no solution for large financial fiduciaries to invest in Bitcoin. This changed November 2017.
LedgerX, whose CEO I interviewed 23 March 2013, began trading as a CFTC regulated Swap Execution Facility and Derivatives Clearing Organization.
The CME Group announced they will begin trading in Q4 2017 Bitcoin futures.
The CBOE announced they will begin trading Bitcoin futures soon.
By analogy, these institutional products are like connecting a major metropolis's water system (US$90.4T and US$2 quadrillion) via a nanoscopic shunt to a tiny blueberry ($150B) that is infinitely expandable.
This price discovery could be the most wild thing anyone has ever experienced in financial markets.
THE GREAT CREDIT CONTRACTION
The same week Bitcoin was released I published my book The Great Credit Contraction and asserted it had now begun and capital would burrow down the liquidity pyramid into safer and more liquid assets.
(http://www.runtogold.com/images/Great-Credit-Contraction-Liquidity-Pyramid.jpg)
Thus, the critical question becomes: Is Bitcoin a possible solution to the Great Credit Contraction by becoming the safest and most liquid asset?
BITCOIN'S RISK PROFILE
At all times and in all circumstances gold remains money but, of course, there is always exchange rate risk due to price ratios constantly fluctuating. If the metal is held with a third-party in allocated-allocated storage (safest possible) then there is performance risk (Morgan Stanley gold storage lawsuit).
But, if properly held then, there should be no counter-party risk which requires the financial ability of a third-party to perform like with a bank account deposit. And, since gold exists at a single point in space and time therefore it is subject to confiscation or seizure risk.
Bitcoin is a completely new asset type. As such, the storage container is nearly empty with only $150B.
And every Bitcoin transaction effectively melts down every BTC and recasts it; thus ensuring with 100% accuracy the quantity and quality of the bitcoins. If the transaction is not on the blockchain then it did not happen. This is the strictest regulation possible; by math and cryptography!
This new immutable asset, if properly secured, is subject only to exchange rate risk. There does exist the possibility that a software bug may exist that could shut down the network, like what has happened with Ethereum, but the probability is almost nil and getting lower everyday it does not happen.
Thus, Bitcoin arguably has a lower risk profile than even gold and is the only blockchain to achieve security, scalability and liquidity.
To remain decentralized, censorship-resistant and immutable requires scalability so as many users as possible can run full-nodes.
(http://www.runtogold.com/images/ethereum-bitcoin-scability-nov-2017.png)
TRANSACTIONS
Some people, probably mostly those shilling alt-coins, think Bitcoin has a scalability problem that is so serious it requires a crude hard fork to solve.
On the other side of the debate, the Internet protocol and blockchain geniuses assert the scalability issues can, like other Internet Protocols have done, be solved in different layers which are now possible because of Segregated Witness which was activated in August 2017.
Whose code do you want to run: the JV benchwarmers or the championship Chicago Bulls?
As transaction fees rise, certain use cases of the Bitcoin blockchain are priced out of the market. And as the fees fall then they are economical again.
Additionally, as transaction fees rise, certain UTXOs are no longer economically usable thus destroying part of the money supply until fees decline and UTXOs become economical to move.
There are approximately 275,000-350,000 transactions per day with transaction fees currently about $2m/day and the 200 DMA is around $1.08m/day.
(http://www.runtogold.com/images/bitcoin-transaction-fees-nov-2017.png)
What I like about transaction fees is that they somewhat reveal the financial health of the network.
The security of the Bitcoin network results from the miners creating solutions to proof of work problems in the Bitcoin protocol and being rewarded from the (1) coinbase reward which is a form of inflation and (2) transaction fees which is a form of usage fee.
The higher the transaction fees then the greater implied value the Bitcoin network provides because users are willing to pay more for it.
I am highly skeptical of blockchains which have very low transaction fees. By Internet bubble analogy, Pets.com may have millions of page views but I am more interested in EBITDA.
DEVELOPERS
Bitcoin and blockchain programming is not an easy skill to acquire and master. Most developers who have the skill are also financially independent now and can work on whatever they want.
The best of the best work through the Bitcoin Core process. After all, if you are a world class mountain climber then you do not hang out in the MacDonalds play pen but instead climb Mount Everest because that is where the challenge is.
However, there are many talented developers who work in other areas besides the protocol. Wallet maintainers, exchange operators, payment processors, etc. all need competent developers to help build their businesses.
Consequently, there is a huge shortage of competent developers. This is probably the largest single scalability constraint for the ecosystem.
Nevertheless, the Bitcoin ecosystem is healthier than ever before.
(http://www.runtogold.com/images/bitcoin-ecosystem.jpg)(/images/bitcoin-ecosystem-small.jpg)
SETTLEMENT CURRENCY
There are no significant global reserve settlement currency use cases for Bitcoin yet.
Perhaps the closest is Blockstream's Strong Federations via Liquid.
PRICE
There is a tremendous amount of disagreement in the marketplace about the value proposition of Bitcoin. Price discovery for this asset will be intense and likely take many cycles of which this is the fourth.
Since the supply is known the exchange rate of Bitcoins is composed of (1) transactional demand and (2) speculative demand.
Interestingly, the price elasticity of demand for the transactional demand component is irrelevant to the price. This makes for very interesting dynamics!
(http://www.runtogold.com/images/bitcoin-speculation.jpg)
On 4 May 2017, Lightspeed Venture Partners partner Jeremy Liew who was among the early Facebook investors and the first Snapchat investor laid out their case for bitcoin exploding to $500,000 by 2030.
On 2 November 2017, Goldman Sachs CEO Lloyd Blankfein (https://www.bloomberg.com/news/articles/2017-11-02/blankfein-says-don-t-dismiss-bitcoin-while-still-pondering-value)said, "Now we have paper that is just backed by fiat...Maybe in the new world, something gets backed by consensus."
On 12 Sep 2017, JP Morgan CEO called Bitcoin a 'fraud' but conceded that "(http://fortune.com/2017/09/12/jamie-dimon-bitcoin-cryptocurrency-fraud-buy/)Bitcoin could reach $100,000".
Thus, it is no surprise that the Bitcoin chart looks like a ferret on meth when there are such widely varying opinions on its value proposition.
I have been around this space for a long time. In my opinion, those who scoffed at the thought of $1 BTC, $10 BTC (Professor Bitcorn!), $100 BTC, $1,000 BTC are scoffing at $10,000 BTC and will scoff at $100,000 BTC, $1,000,000 BTC and even $10,000,000 BTC.
Interestingly, the people who understand it the best seem to think its financial dominance is destiny.
Meanwhile, those who understand it the least make emotionally charged, intellectually incoherent bearish arguments. A tremendous example of worldwide cognitive dissonance with regards to sound money, technology and the role or power of the State.
Consequently, I like looking at the 200 day moving average to filter out the daily noise and see the long-term trend.
(http://www.runtogold.com/images/bitcoin-price-200dma-nov-2017.png)
Well, that chart of the long-term trend is pretty obvious and hard to dispute. Bitcoin is in a massive secular bull market.
The 200 day moving average is around $4,001 and rising about $30 per day.
So, what do some proforma situations look like where Bitcoin may be undervalued, average valued and overvalued? No, these are not prognostications.
(http://www.runtogold.com/images/bitcoin-price-pro-forma.png)
Maybe Jamie Dimon is not so off his rocker after all with a $100,000 price prediction.
We are in a very unique period of human history where the collective globe is rethinking what money is and Bitcoin is in the ring battling for complete domination. Is or will it be fit for purpose?
As I have said many times before, if Bitcoin is fit for this purpose then this is the largest wealth transfer in the history of the world.
CONCLUSION
Well, this has been a brief analysis of where I think Bitcoin is at the end of November 2017.
The seven network effects are taking root extremely fast and exponentially reinforcing each other. The technological dominance of Bitcoin is unrivaled.
The world is rethinking what money is. Even CEOs of the largest banks and partners of the largest VC funds are honing in on Bitcoin's beacon.
While no one has a crystal ball; when I look in mine I see Bitcoin's future being very bright.
Currently, almost everyone who has bought Bitcoin and hodled is sitting on unrealized gains as measured in fiat currency. That is, after all, what uncharted territory with daily all-time highs do!
But perhaps there is a larger lesson to be learned here.
Riches are getting increasingly slippery because no one has a reliable defined tool to measure them with. Times like these require incredible amounts of humility and intelligence guided by macro instincts.
Perhaps everyone should start keeping books in three numéraires: USD, gold and Bitcoin.
Both gold and Bitcoin have never been worth nothing. But USD is a fiat currency and there are thousands of those in the fiat currency graveyard. How low can the world reserve currency go?
After all, what is the risk-free asset? And, whatever it is, in The Great Credit Contraction you want it!
What do you think? Disagree with some of my arguments or assertions? Please, eviscerate them on Twitter or in the comments!
submitted by bitcoinknowledge to Bitcoin [link] [comments]

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submitted by Quippykisset to peaceCorpsCoding [link] [comments]

Sign up for Voyager trading app and get $25 in BTC!

Voyager is a new trading app that intends to offer commission-free trading of least fifteen different cryptocurrencies, including bitcoin (BTC) and Ethereum (ETH). It hopes to differentiate its service by offering more access to different exchanges and thus better liquidity and pricing. Sounds like “smart order routing” when it comes to stocks. This means it will compete with the Robinhood app, which also offers free trades for both stocks and certain cryptocurrencies.
I’m not a Bitcoin expert. I’m checking into this company because it is offering $25 in free Bitcoin to anyone who signs up early, and another $25 for each person that you refer to sign up (up to 100 people). As far as I can tell, it seems like a legit start-up with real venture capital funding and real (rich) people backing it. You can build up referrals now and claim the early bonus, but the app is not live yet so you can’t actually open an account yet to claim the credit. Right now, they just want your name and e-mail.
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Here is my $25 BTC referral link, thanks if you use it. After you sign-up and confirm your e-mail, check your e-mail again and you should be given your own referral link to share with friends.
submitted by Diggity_McG to Referral [link] [comments]

Please read our Frequently Asked Questions (FAQ)

What is layer protocol?
The Layer Protocol is a borderless reputation and incentive system that unifies sharing economy companies across the world, creating a next-generation, decentralized global authority of user behavior reputation. Layer seeks to be the decentralized credit scoring agency of the future. Read more from Whitepaper.

When is the token generation event?
The TGE is scheduled for Q3-2018. We'll be releasing our detailed Q3 roadmap shortly. Please have patience.

What currency is the token value pegged to?
The token value is pegged to USD. Exact price in ETH is yet to be announced. 1 LRX = 0.0375 USD.

When will whitelisting be available?
No set date for whitelisting, however it will precede the Token Generation Event (TGE) which is scheduled for Q3 2018.

How many team members?
The team has 9 members.

Where is the Layer Protocol team from?
The team is based in Silicon Valley, United States. The Layer Foundation is based in Switzerland. For more information about team members please see our official website.

Who will use the platform?​
The platform will be used by companies in the sharing economy where there is a need for a reliable database of its users reputation.

When and which exchanges will the project list on?
The project is not listed anywhere, because token sale is not completed yet. We can't give out any details on exchange listings prior to simultaneous announcement from us and the exchange(s).

Where can we find the roadmap?
Here's our roadmap for the next 6 months: https://medium.com/layerprotocol/the-layer-protocol-roadmap-9a5b372c39af

Why rebrand from Pin Protocol? What changes were made?
We rebranded Pin Protocol to Layer Protocol because of a similar-name scam project named “Pincoin” . We didn’t want to be associated with that project in any form. New name was the only change. More info here.

What is Spin and how is it associated with Layer Protocol?
Spin has been one of the fastest-growing and most talked-about companies in Silicon Valley in 2018, and this is how most of the community knows about Layer. The co-founders of Spin started Layer, and have been pretty vocal about this when talking about Layer. Layer came about as it solves a crucial problem for Spin, and also because it has compelling potential independently as a decentralized reputation protocol for other platforms. The continuing rapid growth of Spin drives more adoption and distribution for Layer.

Who are your Partners?
Origin Protocol - Origin is a protocol for creating sharing economy marketplaces using the Ethereum blockchain and IPFS. More about the partnership here.
Insight Network - Layer Protocol is partnering with Insights Network to be its KYC solution, providing an efficient, streamlined process for identity verification. Effective immediately, users can complete KYC verification for Layer Protocol on the Insights Network. Link to medium post.
Quantstamp - Quantstamp will audit Layer Protocol's ICO and protocol smart contracts in the near future. Link to medium post about the partnership.
MedChain - Medchain is the leading blockchain Electornic Health Record platform. You can read about the partnership here.
No Rest Labs - No Rest Labs is the premium blockchain development firm, that has significantly contributed to top tier projects including Lendroid, WeTrust, Aimedis, and tagMonkey, and are the minds behind five open-source blockchain tools: MouseXplore, MouseKYC, MouseSDK, MouseWallet, and MouseUtility.
MouseBelt - The world’s first full-service blockchain accelerator. Read the medium post here.
Spin - Spin provides your community with dockless scooter-share to get you where you need to go—whether you’re commuting to work, going to class, running errands on the weekends or exploring your city. With Spin, you’re free to roam.


Layer Protocol Team

Core Team
Euwyn Poon - Co-Founder - Euwyn is entrepreneur, lawyer and software engineer who has been involved in the blockchain industry for 5 years. In 2014, he co-founded Delta, one of the first projects to offer interest-bearing Bitcoin accounts, which was backed by Y Combinator, Initialized Capital and Winklevoss Capital. He has spoken at CoinSummit London and Inside Bitcoins and has been featured on Bloomberg, Wall Street Journal, New York Times, Forbes, Vice, CNBC and Fox Business News. https://www.linkedin.com/in/euwyn/

Derrick Ko - Co-Founder - Derrick is a senior software engineer and product manager, and is also the Co-founder & CEO of Spin, an electric scooter sharing company serving over 50 markets in the US. Previous experience includes Lyft, Kicksend, Pivotal Labs and is a Y Combinator alumni. https://www.linkedin.com/in/derrickk/

Zaizhuang Cheng - CTO & Co-founder - Zaizhuang is a senior software engineer, previously lead engineering at Disqus and built a Singapore based startup Yum. He is also CTO at Spin. https://www.linkedin.com/in/zaizhuang/

Galen Danziger - External CTO - Galen has been a CTO of many successful startups in Silicon Valley, participated in 500 startups program with tagMonkey and is a CTO in No Rest Labs, an software development company providing development services in the blockchain space. Lead the development for Lendroid. https://www.linkedin.com/in/galen-danziger-83877179/

Patrick McLain - External DevOps - Patrick is the leader of Blockchain accelerator MouseBelt, and leads the operations at No Rest Labs, providing development team along with Galen to Layer Protocol. Previously also went through 500 startups program with tagMonkey alongside Galen.

Advisors
Shayne Coplan - Founder & CEO of TokenUnion
https://www.linkedin.com/in/shaynecoplan/
Michael Ma - General Partner at Liquid 2 Ventures
https://www.linkedin.com/in/michaelma8/
Dmitry Grishin - Co-founder of Grishin Robotics, Mail.ru (DST)
https://en.wikipedia.org/wiki/Dmitry_Grishin
Josh Fraser - Co-founder of Origin Protocol
https://www.linkedin.com/in/joshuafrase
Matthew Liu - Co-founder of Origin Protocol
https://www.linkedin.com/in/matthewliu/
Gee Chuang - Co-founder of Ink Protocol and Listia
https://www.linkedin.com/in/geechuang/
Kenzi Wang - General Partner at AU21, a blockchain fund
https://www.linkedin.com/in/kwang2/
David Chen - Former Partner at Lightspeed
https://www.linkedin.com/in/dchen/


Token metrics:
Token Total Supply: 1,000,000,000 LRX
The hard cap is $15M
There is no soft cap
Token Allocation: 40% token sale, 15% team and advisors (2 year vesting), 30% company reserve (growth of team, build core partner network, user acquisition and control economics), 15% community (onboard partners, nodes and community growth)
Usage of Funds: 40% User Acquisition, 20% BD and Partnerships, 10% Operations and Overheads, 30% Engineering

How do I stay up to-date on announcements and updates?
Please check our Telegram announcements channel for latest updates. You may also wish to stay up-to-date on other Layer Protocol progress/news through the official blog on Medium https://medium.com/layerprotocol

Project links:
Website: https://layerprotocol.com/
Telegram Group: https://t.me/layerprotocol
Telegram ANN: https://t.me/layerprotocolannouncements
Twitter: https://twitter.com/LayerProtocol
Medium: https://medium.com/layerprotocol
Whitepaper: https://docsend.com/view/esxs96z


submitted by Synotiv to LayerProtocol [link] [comments]

Weekly Blockchain Finance News

AB Int’l acquired iCrowdU, Blank check Megalith files for USD 150m IPO, Boldface header, Deepbrain airdrops USD 3m, GSR upsizes tZero investment to USD 400m, Petroteq arranges debt for equity swap, World Bank mandates CBA for first blockchain bond, CoinBase poached Amazon’s Tim Wagner and Q2 VC investment report
The Blockchain finance newsletter gets readers up to date on the latest funding news and related issues.
• Mergers and acquisitions
AB International, the Hong Kong, China-based tech focused investment firm, said it acquired blockchain-backed crowdfunding startup iCrowdU. The company raised its stake to a controlling 51% from the original 11%. AB International filed its most recent 10-Q late in the US after sacking senior executives in May.
• Filings
Megalith Financial Acquisition, the New York City-based blank-check company seeking to buy financial technology companies, said it is raising USD 150m from the initial public offering of 15m shares at USD 10.00 each. The company identified blockchain as one area of management expertise.
• Funding
Libra, the New York City-based cryptoasset services company, said it raised USD 15m in a Series B led by an unidentified family office in Europe. The company provides back-office services.
Audius, the San Francisco, California-based blockchain company focused on the music industry, said it raised USD 5.5m in a Series A led by General Catalyst and Lightspeed. The company sees itself as a rival to SoundCloud.
Lambda, the Singapore-based blockchain data storage company, said it is raising up to USD 5m in a token crowdsale.
tribeOS, the Hamilton, Bermuda-based blockchain company focused on advertising, said Bitmain invested USD 3m. Bitmain, the Beijing, China-based cryptocurrency mining equipment maker, is likely to soon file for an initial public offering, according to a Fortune report last week. The company raised USD 400m in a pre-IPO financing led by Sequoia Capital, according to a China Money report in June citing local media.
Deepbrain Chain, the Singapore-based blockchain company focused on AI research, is airdropping USD 3m, according to a Bitsonline report.
Sagewise, the Long Beach, California-based blockchain contractual dispute services firm, said it raised USD 1.25m in a seed round led by Wavemaker Genesis.
True Nature, the Atlanta, Georgia-based developing healthcare related software applications, said it filed a shelf for a USD 6m equity financing with GHS Investments. The products the company develops may carry blockchain encryption.
Overstock.com, the Salt Lake City, Utah-based online retailer, said its blockchain subsidiary tZERO raised the amount of financing it was receiving from Hong Kong-based GSR Capital to USD 404m. Overstock said in June tZERO was raising USD 160m.
Vemanti, the Newport Beach, California-based investment holding company, said it invested an unspecified amount in Chopp, the grocery delivery company operating in Vietnam. Blockchain, AI and machine learning are sectors Vemanti says it focuses on.
Petroteq Energy, the Sherman Oaks California-based company developing blockchain technology for use in the oil and gas industry, said it arranged two debt for equity swaps worth about USD 400,000.
Late last month, the company said it was raising USD 1.8m from the sale of shares and warrants, and applied to uplist to the Nasdaq. Earlier in July Petroteq said it was raising USD 202,000 from 11 investors.
The World Bank, the Washington DC-based multilateral lender, said it mandated Commonwealth Bank of Australia to arrange what it says is the world’s first blockchain-based bond.
Initial coin offerings going more towards accredited investors, according to a Bloomberg report.
Other deals included Universal Protocol Platform, Genetic Technologies, and OMAAT
• Legal & Regulatory
South Korea’s recently established Blockchain Enterprise Promotion Association is pushing the government to establish the island of Jeju as a cryptocurrency hub, according to a Cryptovest report. Crypto Currency News’ take is here. The Indian government and Tech Mahindra plan to develop a blockchain district in the city of Hyderabad, according to an Asia Times report.
• People
Coinbase, the San Francisco, California-based cryptocurrency trading platform, said it hired Amazon’s Tim Wagner as vice-president of engineering unit. Last week it hired Jeff Horowitz as chief compliance officer. Horowitz was head of compliance at Pershing, a unit of custody, clearing and settlement firm BNY Mellon.
Also this week, Facebook’s head of blockchain David Marcus resigned from the Coinbase board of directors as the social media giant deepens its engagement with the distributed ledger space, according to a Business Insider report. Coindesk’s take on the story is here.
KeyoCoin, the Los Angeles, California-based blockchain company focused on the travel industry, brought Shrei Kaiserman in as a bitcoin advisor as it moves closer to the launch a travel rewards token, according to a BlockTribune report. Kaiserman started an investment and advisory firm, Maco.la, that has focused on the blockchain industry.
SharesPost, the San Francisco, California-based trading platform, said it hired Nick Grabowsk as chief technology officer. Grabowski joins from Charles Schwab, where he was a vice-president of application architecture and R&D. He will work on integrating cryptocurrency and blockchain securities into the SharesPost platform, which started as a secondary trading venue for private technology firms.
SharePost raised USD 15 million in a Series C in June led by LUN Partners and Kenetic Capital.
Sidley Austin, the New York City-based law firm, said it hired Lilya Tessler to head its blockchain and fintech in the securities & derivatives enforcement and regulatory group. She was previously co-head of the blockchain and fintech group at McDermott, Will & Emery.
AlphaPoint, the New York City-based blockchain services firm, said it hired Srikant Manda as chief information security officer. He previously led security architecture and engineering teams at Juniper Networks and Fortinet.
The hire marks the fourth executive AlphaPoint has brought in since May. Last week it appointed Fisher Cataliotti partner Katya Fisher to the board of directors. The law firm is focused on blockchain, cybersecurity, cryptocurrency and artificial intelligence.
AlphaPoint, which is developing corporate auditing software, hired Kristin Boggiano as chief legal officer in July. She was most recently senior regulatory counsel at Guggenheim Asset Management.
In June, the company hired former Nasdaq executive Michael Schmidt as chief human resources officer and raised USD 15m in a Series A from Galaxy Digital Ventures. Ether Capital, the Toronto, Canada-based blockchain investment firm, said it’s forming an advisory board with Ethan Buchman, chief technology officer and co-founder at Cosmos Network, and Panashe Mahachi, co-founder of L4 and Scanate. Other hires included Grant Thornton, CENTRI, Blockchain Power Trust, DigitalTown, Hut 8 Mining, Data443 Risk Mitigation,
• Data
Cryptofinance Conference data shows traditional VCs edging more deeply into blockchain investing, according to a The Next Web report.
Trading, financial services and infrastructure accounted for the most venture capital investment in blockchain companies, at roughly 17% each, in the second quarter of this year, according to a report from Outlier Ventures.
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Everyday Blockchain News:Former Federal Reserve Governor Supports ‘FedCoin’ Project

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Kevin Warsh, a former U.S. Federal Reserve governor, recently told The New York Times the Fed should give serious consideration to releasing a government-sponsored cryptocurrency — commonly called a “FedCoin.”
Warsh is among a group of investors in Basis, formerly Basecoin, a cryptocurrency designed with an algorithmic central bank that will keep the price stable.
Warsh, was a Fed governor from 2006 to 2011 and was a leading contender to become its chairman last year.
Had he returned to the Fed, Warsh said he would have assigned a team to explore a “FedCoin.” He does not see such a coin replacing cash, but he views it as a way to conduct monetary policy when the next crisis occurs. He noted that most central banks believe cryptocurrency assets are prone to fraud and investor losses.
A distinguished visiting fellow at the Hoover Institution at Stanford, Warsh said blockchain technology would be helpful for enabling the transfer of trillions of dollars between banks.
The Bank of England and the Monetary Authority of Singapore are already exploring such a concept.
Fed Chairman Jerome Powell said in his November confirmation hearing that blockchain could have “significant applications in the wholesale payments part of the economy.”

A Peculiar Role For Crypto?

Cryptocurrency would make an unusual role for a central bank controlled currency, the New York Times article observed.
Since central banks largely focus on maintaining the stability of money’s value, cryptocurrency would be ill-suited as an exchange medium, given is volatility.
Central banks also focus on enabling law enforcement to contain crimes that cryptocurrencies are used for, such as money laundering, fraud and tax evasion.
It would also be a twist if a technology supported by those who are motivated by distrust of central banks became a tool for those very banks.
The central banks considering blockchain technology do not share the more anarchist impulses of some cryptocurrency enthusiasts, the article noted. But Warsh argues that if people believe that digital currencies in some form are the future of money, the central banks should view them as more than a novelt.

Why He Supports The Concept

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If the next generation of cryptocurrencies are more similar to money than to gold and would be a reliable unit of account versus being a speculative asset, Warsh said he would not want someone to take such a monopoly away from him.
If cryptocurrency enthusiasts are correct that the technology could provide a better way to conduct routine transactions, the central banks are the institutions with the most to lose.
Basis has already raised $133 million in a private placement. Backers besides Warsh include Bain Capital Ventures, GV, Stanley Druckenmiller, Lightspeed, Foundation Capital, Andreessen Horowitz, Wing VC, NFX, Valor Capital, Zhenfund, INBlockchain, Ceyuan Ventures, Sky9 Capital and others.
Basis’ goal is to marry the benefits of cryptocurrency with centrally controlled fiat currency. Central banks mitigate volatility via monetary policy. They expand and contract the money supply. Cryptocurrencies, by contrast, have a fixed supply, which fosters volatility that makes them an unreliable form of payment.
Basis brings the benefits of cryptocurrency without the volatility, said its chief executive, Nader Al-Naji. Basis would be distributed to those participating in the system, thereby decentralizing monetary expansion. Should it accomplish its goal, Basis will benefit the efficiency of developing nations’ economies, said Al-Naji.
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Crypto Morning Highlights

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An investment client asked about Bitcoin, here is my memo response

What are Bitcoin, How do Bitcoins Work and Why Should We Care? November 24, 2013
Below is an actual email I sent to one of my top clients, who is a global business leader, when we were discussing Bitcoin today.
— I’ve removed any confidential information and I think the content makes for a decent and informative article about how Bitcoins work.
[I realize some technical details -- such as Bitcoin mining-- are not fully explained - this was because I wrote this for a specific person based on the style that person prefers.]
Hi ____,
(Excuse the long note, it will answer the questions you asked and also fully equip you for cocktail /water cooler conversations which I GUARANTEE will come up!)
Bitcoin works by allowing direct transfer of money/ coins peer to peer anywhere in the world…the rational for the price increase is due to supply and demand and increasing signs of this being a real and viable thing.
It’s fascinating.
HOW A very complex computer program on a shared network creates (to be mined) the digital “coins”which are basically a series of numbers….each one is unique.
WHAT These digital coins can be easily transferred, converted to USD, EUR, CNY or used to purchase tens of thousands of goods online. (Every major hacker and academic has attempted to counterfeit, hack or find flaws and numerous papers have been written which say it won’t likely happen due to the way the code is written and open source and other details.)
This has created a completely decentralized global currency instantly transferable and untrackable.
The idea of digital currency came about in the 80s — five years ago Bitcoins started — at first very experimental with tech geeks buying pizzas etc and traded at around .22 then a dollar each.
RISE IN VALUE When Cyprus collapsed, Bitcoin had it’s first major surge as it was seen by some as a gold-like alternative but with easy transport across borders. It was also seen as a black market facilitator due to its decentralized nature with underground goods reaching hundreds of millions in sales.
WINKLEVOSS Shortly afterwards, the Winklevoss twins (VCs and Facebook lawsuit winners) bought about $90 million worth or 1% of Bitcoin. Winklevoss targets a $400B market cap for Bitcoin (from $7-9b today) (someone else appears to have bought $150 mm worth this week, it’s unknown who)
CHINA / BAIDU As the price reached $100 and $200, China became interested — it’s in the news there daily now.
The massive Chinese state internet company Baidu announced they will accept Bitcoin as a form of payment. It’s unlikely Baidu would do this without the tacit approval of the Chinese government (who also knows this is a slight toward the USD which is not overt)
US Senate hearings this month were surprisingly favorable and unlikely to lead to attempts at heavy-handed regulation. (Which is logistically nearly impossible given the de-centralized nature, you would have to shut down the internet to stop it entirely)
The China interest and US hearings brought Bitcoin past the $700-800 mark in very volatile trading. (Mkt cap of 7-9 billion USD)
ACCESS /DEMAND There is only one major exchange in the US – called MtGox — it is plagued by delays from tens of thousands of applications for new accounts….just processing wires takes a week or more and an AML check takes 30 days due to backlog.
The main broke exchange in China received an investment from Lightspeed Venture Partners and China is getting something like 60,000 inquiries a day.
WHY I think Bitcoin is transformative for a few reasons:
Almost a year ago I had a conversation about Bitcoin with —-deleted——- [a leading Venture Capitalist. Basically he's interested in the space, we are looking for ways to participate]
Since then, especially based on China, I’ve become more convinced.
We are talking about global access now….. when else have Chinese citizens and EU and US been able to buy the same investment on the same platform? We know the significance of Chinese savings and interest in non fiat currency….as well as the transformative power of decentralized collaborative networks….as well as the risks in conventional global fiat currency.
Clearly if we talk in terms of it replacing even a tiny fraction of real global currency it is a huge deal…..too much in the air for that, but I think access and interest alone can bring it to a value somewhere around AAPL or the $400B the Winkelvoss twins target….this is still a small drop compared to real currency numbers but would place Bitcoin at $30-40,000 per coin.
Risks are high, it is very volatile….one article shared at [major firm] says it will be back down to $250 by months end. It can return to thin air and head back down to a penny. I thought government regulation was the largest risk but the Senate has missed that boat…unless some major event creates a compelling national need, they are unlikely to try now…toothpaste is out of the tube. So now the biggest risk is whether this is real or not….this is why China and Virgin etc. are significant.
[deleted specific recommendations particular to this person etc.]
Let me know if you want me to look at ____ XYZ – we should participate.
That’s my two cents worth! (Or .00000023 Bitcoin worth)
-Bruce
Bruce Fenton President and Managing Director, Atlantic Financial Inc.
W
submitted by Arabiansands to Bitcoin [link] [comments]

Price of bitcoin is 3.5x the price of silver, crash probably would have been avoided if we had a good exchange... sorry, how is it failing? (articles attached - VC's know better than you, silly.)

Bitcoin was at it's current price (90 USD currently) literally less than a month ago, which was up (correct me if I'm wrong, bit fuzzy on the dates) something like 900% of the beginning of the year.
If it wasn't for gox going down, who knows what it would be at right now? Yeah the bubble had to pop sometime, but this bubble wasn't even caused by the over-valuing of BTC (dotcom) or a surge in excess supply (real estate). It was literally caused by a lack of faith in the exchange sites that caused a panic sell that in turn cause an insane wide spread terrorizer effect (can someone say higher education?).
Anywho, I watched my investment go up to tens of thousands (in b4 the news!) then back down to a few thousand, but I'm still a blind believer in the potential of disruption that bitcoin really has. I'm holding [while trading]!
If not anything else - when in doubt, just know that Lightspeed Ventures, Andresseen Horowitz, FF Angel, and Kleiner Perkins probably know slightly more than you do.
Techcrunch: http://techcrunch.com/2013/04/11/bitcoin/
Venturebeat: http://venturebeat.com/2013/04/11/mt-gox-is-the-biggest-hurdle-to-bitcoins-legitimacy/
Cheers, good luck to all. You haven't "lost your fortune" - bitcoin still exists, anything can happen.
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VC Firm Raises $1.8 Billion for Startup Investments Including Cryptocurrency

VC Firm Raises $1.8 Billion for Startup Investments Including Cryptocurrency
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Lightspeed Venture Partners, a venture capital (VC) firm and early investor in Snap Inc., has raised $1.8 billion for startup investments including cryptocurrency projects.
As it eyes a business expansion to Southeast Asia, where the digital currency ecosystem thrives like no other region, the VC player is likely to fund a number of promising cryptocurrency products there.
Snapchat Investor Lightspeed Has Billion Dollar Wallet to Invest in Cryptocurrency Projects
The early backer of Snapchat’s creator Snap is having approximately $1.05 billion of the $1.8 billion new funding earmarked for a separate fund to invest in more mature companies, instead of its traditional approach of funding early-stage firms.
The company’s upcoming expansion to Southeast Asia will include investments in cryptocurrency, among other areas such as biotechnology and new TV streaming services, according to partners at Lightspeed, who added they will have to invest repeatedly in companies they already backed as startups stay private for longer.
“That trend has only been increasing over time, and as a result, our funds have been getting bigger over time as well,” said partner Jeremy Liew.
Lightspeed hired a new partner, ex-Insight Venture Partners Brad Twohig, to help lead the firm’s growth investments. Lightspeed has returned $2.7 billion to investors since the start of 2017, which has become an uncommon scenario among the VC industry as venture-backed tech companies increasingly delay their initial public offerings (IPOs).
In the last five years, Lightspeed-backed companies have held 17 IPOs, about half of which have occurred since the start of 2017, including messaging app Snapchat.
“If you point to one moment in time for the firm it was probably the Snap IPO. But really, it’s a decade of hard work and it all came to fruition at the same time.”
Lightspeed Venture Partners are no strangers to blockchain and the cryptocurrency market. Jeremy Liew said last year that demand for Bitcoin et al. will continue to grow as the world continues to move towards instability, in terms of geopolitics and military interventions. Citizens will eventually look for alternatives to official currencies, especially in countries in the Middle East, South America, and Eastern Europe, where political instability and inflation are common.
Lightspeed has recently invested in the ICO of Telegram, which raised more than $1.7 billion in its presale. Due to its massively successful presale, Telegram revealed that it will no longer initiate a public ICO. Lightspeed Ventures made its first token investment ever when it backed Basis in April 2018. Developed by Intangible Labs and backed by other big names such as Andreessen Horowitz, Bain Capital Ventures, and Google Ventures, Basis is a stable coin that will be built on the Ethereum blockchain.
Source
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Gwyneth Paltrow Joins Bitcoin Wallet Abra as Advisor - Bitcoin News

This is the best tl;dr I could make, original reduced by 65%. (I'm a bot)
Bitcoin wallet startup Abra has announced that actress and entrepreneur Gwyneth Paltrow has joined its team as an advisor.
Gwyneth Paltrow, an actress well known as Tony Stark's girlfriend Pepper Potts in Marvel's Iron Man and the Avengers series, has joined Abra as an advisor after being chosen by CEO Bill Barhydt during an episode of the Apple's Planet of the Apps.
Airing his episode on Tuesday, the Shark Tank-style series from Apple Music allowed Barhydt to pitch his Bitcoin-based global money transfer app to a panel of four "Entrepreneur advisors," including Paltrow.
Barhydt spent three months working on the filming of the show since late 2016, which wrapped up in early 2017, he detailed on the Abra blog.
Sitting beside Paltrow, the two Facetimed with Chesky, who advised Barhydt to "Focus on making a product that a core group of people love before worrying too much about scaling." According to the CEO, the advice has "Really stuck with me and has helped guide our decision-making at Abra over the last few months."
After working together for a few weeks, Barhydt and Paltrow presented the Abra app to four venture capitalists at Lightspeed Capital.
Summary Source | FAQ | Feedback | Top keywords: Barhydt#1 Paltrow#2 Abra#3 app#4 advisor#5
Post found in /Bitcoin, /BitcoinAll and /CryptoCurrency.
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The first investor in Snapchat explains why the bitcoin rally is just getting started

This is the best tl;dr I could make, original reduced by 9%. (I'm a bot)
Uncertainty about governments could make cryptocurrency like bitcoin an even more in-demand commodity, said Lightspeed Venture Partners partner Jeremy Liew."Bitcoin and the other digital currencies, they all really see a lot of benefit in times of political and economic instability," Liew said to CNBC. "Fundamentally when a citizen doesn't have faith in their currency of their country, then they are looking for alternatives, and a digital alternative like bitcoin becomes much more compelling in those circumstances."
Lightspeed co-led the first venture round in Blockchain, a bitcoin wallet, in October 2014.
Liew said in parts of the Middle East, Africa, South America and Eastern Europe, concerns over the government being overthrown or persistent long-term currency inflation have been driving bitcoin's increasing valuation.
A bitcoin is valued at a little over $2,800 as of Tuesday afternoon, according to Coindesk.
While there are other cryptocurrencies like ethereum, Liew points out it's currently valued at just a fraction of bitcoin's market cap.
"If you're going to be an investor in anything, you want to be where the most trading volume is happening, and right now that's happening in bitcoin," he said.
Summary Source | FAQ | Feedback | Top keywords: bitcoin#1 Liew#2 currency#3 Venture#4 more#5
Post found in /Bitcoin and /BitcoinAll.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
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Abine launches 'Bitcoin Anywhere'. Spend bitcoin anywhere online.

Abine launches "Bitcoin Anywhere" (a new beta service)
Coinbase users can spend Bitcoin anywhere online
Abine, the online privacy company, today announced a new beta service designed to help Bitcoin users more fully participate in online commerce. The invite-only beta will enable Bitcoin to Abine Masked Card purchases at any merchant. As the Bitcoin economy goes mainstream, there is an increasing need to be able to use Bitcoin at more places, provided that spending is ultimately compliant and is for legitimate e-commerce purposes. “What we aim to achieve is to assess consumer demand for a purchasing experience that balances innovation, convenience, compliance, and security,” said Andrew Sudbury, Abine co-founder and CTO.
To signup for the beta program: https://dnt.abine.com/#blurbitcoin
The beta program is limited to users of the popular Coinbase Bitcoin wallet and users must also use Abine’s Blur premium service (Blur lets anyone control their passwords, payments, and privacy). By linking Blur together with a Bitcoin wallet, a more accepted and more contextual Bitcoin-based e-commerce experience is possible.
Abine plans to share the results of the beta program with key Bitcoin companies, influencers, and regulators in order to inform the ecosystem about the potential for broadening the pace of Bitcoin acceptance – from beyond the 85,000 merchants who accept Bitcoin payments today.
Everyone wants to know how Bitcoin would fare if it were more widely accepted by merchants. Leading VC’s who have invested in Bitcoin like Andreesen Horowitz, Lightspeed, Index, and Khosla Ventures are ultimately betting that consumers will come use Bitcoin if it is accepted more broadly. Similarly, the big Bitcoin startups like Coinbase, Circle, Bitpay, Bitfury, and Xapo are betting on wide acceptance catalyzing mainstream use.
Blur with Bitcoin
Blur -Abine’s password, payments, and privacy solution- goes beyond Bitcoin wallets to give users other simple ways to be more private and secure online. With one click or finger tap, Blur generates a new email address, strong unique password, and or one-time use secure credit card (masked card) that is sent to the site or merchant instead of the consumer’s real private information. Consumers thereby remain in full control of their real personal info while still being able to interact normally with popular web sites and services. Blur also automatically blocks hundreds of tracking companies from secretly collecting detailed data about what people do daily online.
Blur comes in free and premium versions (Premium costs less than $4 per month). Blur premium service includes a new private phone number, unlimited new masked credit cards, as well as the ability to add and sync unlimited mobile devices to an account for one subscription price. To download and use Blur immediately, visit www.abine.com.
About Abine
Abine is the online privacy company. Abine has for years been committed to providing consumers with innovative and comprehensive privacy solutions meant for everyday web users. Abine’s solutions have been trusted by over 25 million people worldwide to protect and control their passwords, payments, privacy, and identity. Get Blur.
Contact
We’re very excited about this launch and believe it is just what the marketplace needs. With this integration, Coinbase users will be able to use Bitcoin to make purchases at any online retailer - something not possible before now. This is a step in the right directions for consumers, bitcoin, and secure payments and we hope you don’t miss out on covering this opportunity. If you are a journalist, we would love for you to cover this story, and if you'd like I can help you set up some time to speak with our CEO, Rob Shavell, or CTO Andrew Sudbury to discuss this launch in more detail. Please contact [email protected] for more information.
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How Come VCs are Missing the Blockchain Epoch?

But there are other possible reasons for the lack of Blockchain support by VCs. A major force behind VC objection to blockchain technology is called ICO, or Initial Coin Offering. ICOs are a blockchain, token-based fundraising alternative that is quickly becoming popular, making VCs and their traditional, slow, and sometimes heavily taxing process completely redundant. ICOs not only simplify the investment process, but also provide ways for startups to share equity and other benefits with their investors, their users, suppliers, and the entire community around them. In that light, ICOs are filling the financing gap that VCs and other investors are leaving behind.
So far, 2017 is the breakthrough year for ICOs as $1.73 billion has been raised by startups using token sales, and ICO fundraising is forecasted to reach $1.8 billion by October. Notable ICOs include those of Tezos ($208M), EOS.IO ($200M), Bancor ($153M), and Status ($95M), as well as about 60 token sales in total. Have the investors made a profit? It depends, but the total market cap for all Altcoins (Cryptocurrency excluding Bitcoin) has risen from $2.2B on January 1st to roughly $71B yesterday. This is an increase of over 3200%, so yes, some investors are definitely happy.
For unbiased ICO reviews go to Coin.best. For unbiased research reports on startup companies go to Zirra
But Blockchain technology extends way beyond ICOs and even digital coins. Leaving currency aside, blockchain turned out to be a viable system of value sharing with no need for a trusted third party, such as a bank, or any centralized system. Blockchain can be used as a trusted digital ledger for an infinite selection of applications: it can be used as the infrastructure of a digital wallet, a voting system, or a platform that authenticates identity, ownership or certification, or certifies the traces of a supply chain. Microsoft and Intel have developed their blockchain frameworks for enterprises and financial institutions such as Citigroup and Bank of America has been investing in blockchain startups.
Yet VCs are not buying. Is it moral bias? Fear from the impact of ICOs? Seeing something the others don’t or simply “staying behind the curve”? It’s difficult to tell. Fact is, VCs are not aligning behind blockchain, leaving a vacuum that quickly fills up while posting possibly the biggest gamble for the future of their own ventures.
How alienated are VCs from the blockchain industry? According to a recent study by CB Insights, traditional equity-based investment (non-ICO) in blockchain companies hit in the second quarter of 2017 their lowest point since 2013, to 16 financing rounds. However, these 16 rounds totaled in $232 million, which was actually as high as the entire VC investment in self driving cars in the entire first half of the year.
But VCs were just a small part of that picture. Almost half ($107 million) of the VC-based quarterly funding for blockchain companies went to the banking consortium R3, which was actually funded by the largest financial institutions such as Bank of America, Citigroup, Barclays, Credit Suisse, HSBC and tech giants such as Intel. Another $40 million went to the Bitcoin-based digital wallet Blockchain, from cryptocurrency-oriented investors such as Digital Currency Group, and mainstream VCs such as Lightspeed and Mosaic.
As the graph below shows, top VCs are hardly in the blockchain game, hesitant to invest in more than one or two companies per quarter altogether around blockchain technology. Only a portion invested in more than one company in the space in total. Notable VCs Lightspeed, Union Square, and Andreessen Horowitz each hold an average of five portfolio companies in the blockchain and bitcoin space.
So, who are the most dedicated investors in bitcoin and blockchain technology? The leaders are cryptocurrency-dedicated funds and hedge funds such as Digital Currency Group, Blockchain Capital, Pantera, Fenbushi Capital and Future Perfect. They are joined by a small group of innovative VCs ,managed by partners who are keen to cryptocurrencies such as Marc Andreessen (Andreessen Horowitz), Fred Wilson (Union Square), and Tim Draper (Draper Associates).
Blockchain is not waiting for VCs to enter the game. It is exploding. Here are 3 major signals for this:
1.ICOs are exploding: In the meantime, it seems like everyone but VCs have joined the blockchain party. The ICOs were the ones who took the bigger bulk of business press attention in the second quarter, raising about $750 million for 60 companies. However, VCs and other institutional investors were not among the investors, as long as ICOs are not regulated and are outside the charter of investment given to general partners by their limited partners.
2.Cryptocurrency, not just Bitcoin, is experiencing great momentum. The graph below tells the story. Bitcoin is barely the whole picture. Other blockchain-based cryptocurrencies such as Ethereum and Ripple are on the rise. This graph shows the total market capitalization for the top seven cryptocurrencies excluding Bitcoin:
Here, Ethereum and Ripple can be seen gaining more and more market share of the entire cryptocurrency market:
3.Enterprises are pouring in: Technology corporations and financial institutions didn’t wait for the VCs to come and adopted their solutions for blockchain-based decentralized networks. Among tech giants, leaders Microsoft and Intel have been pushing blockchain agendas for internal use among their customers, which are mainly big companies. Earlier this week, Intel and Microsoft joined forces to launch Coco, a blockchain framework for business that processes about 1,600 transactions per second, 1000X more than comparable blockchain frameworks, such as Ethereum consortium. The new platform uses Ethereum-based smart contracts and enables confidentiality and security over the network with the aid of other distributed ledger systems. With Coco, fashion retailers, for example, might form a blockchain consortium to verify authentic designer merchandise, and track delivery, payments, and stock inventory.
Earlier in 2015, Microsoft announced a cloud-based blockchain developer environment for Azure, its cloud platform. Since then, the company has partnered with numerous blockchain technologies such as HyperLedger Fabric, R3 Corda, Quorum, Chain Core, and BlockApps. Competitor Amazon made a similar move, partnering with blockchain investment firm Digital Currency Group to offer an experimentation environment for startups and developers and partnering with a few blockchain companies on its AWS cloud platform. Google too is in the game, although not directly, investing through its VC in Ripple, the third largest cryptocurrency after Bitcoin and Ethereum, and in Blockchain, a bitcoin wallet startup.
At least two large-scale blockchain projects are permissioned by global enterprises: Open-source project Hyperledger, established by the Linux Foundation, is partnered with Intel, J.P Morgan, SAP, Fujitsu, Accenture, Daimler, and R3. Many of these organizations are also a part of the Ethereum Alliance, with the addition of enterprises such as Microsoft, BBVA, Credit Suisse and more.
So, to sum up, why are VCs so afraid of blockchain? There are quite a few reasons for this:
Fear of the impact ICOs have on traditional VC business: VCs have sustained many threats, from family offices taking up innovation, crowdfunding, and private equity firms digging into investing in startups directly. But never has the danger been so clear and imminent as with ICOs. In the long term, ICOs as a funding vehicle for start-ups could rival the traditional VC model. Blockchain tokens issued by start-ups during an ICO are a more liquid asset than any stock in a private company held by VCs. In the current situation, venture capital funds are an illiquid asset class, and they have to wait 7-10 years to realize their results and measure the IRR. But blockchain tokens are immediate and can disclose a company’s momentum in real time. Naturally, VCs would feel suspicious regarding a real-time investment model that challenges them. Also, ICO might bring to the table another new kind of investor, making deals less exclusive than what they used to be, on a scale that crowdfunding hasn’t done yet. On the other hand, this will demand disclosure by startups of performance indicators in the public domain. In that way, GPs and LPs will have a clearer idea of the performance of their portfolio. Inability to separate blockchain as an infrastructure for businesses from Bitcoin and ICOs: Blockchain is a technology concept that can turn over industries. It is a secured and distributed electronic ledger, which allows all transactions – such as payments, loans, and contracts- to be tracked in real time. Bitcoin is a coin that can be used for digital transactions, and ICOs are a method for raising money using the offering of digital coin based tokens. Most VCs will not even go so far as understanding these nuances, not to mention acting rationally upon each of these sectors. Inconvenient Regulation: Last month the SEC declared blockchain tokens to be considered securities, rather than assets. This decision puts the U.S in an inferior position relative to countries such as Switzerland and Singapore that treat blockchain tokens as assets. In order to attract investors and make the ICO process easier, U.S blockchain companies might list in those countries, or else use regulation S and D exemptions with the SEC in order to raise funds. That limits American funding to a mere 99 accredited investors, but does not limit global investments. Few exits and high rate of failure: As an immature discipline, Bitcoin and blockchain companies not only have a poor history of exits, but also a high rate of failure. According to research focused on cryptocurrency investments listed on the Coindesk database, 14% of a total number of VC-backed blockchain and Bitcoin companies went bankrupt or were sold in a fire sale. 85% of them were focused on Bitcoin. The numerous M&As in the business mainly concentrated around Bitcoin exchanges, and do not seem to be related to VCs. Blockchain was unscalable and not business oriented until recently: Putting aside cryptocurrency mining, which consumes a lot of energy, blockchain frameworks are not efficient enough for business applications. Ethereum, for example, processes around 16 transactions per second. However, Microsoft has recently showcased a blockchain framework that processes 1,600 transactions per second. Inability to create a monopoly: Investor Peter Thiel once said that “entrepreneurs starting a company should aim for monopoly and avoid competition.” However, the idea behind blockchain, a decentralized and public network, is intolerant to monopolies. Investing in ICO is still dangerous: In the current situation, direct investment in ICOs entails perils for VCs besides regulation. This includes a complicated process of cashing out (of a digital coin), currency’s high volatility, the high cost of capital in due diligence, and a reduced defensibility in the case of a large investment, according to a paper by Lerer Hippeau investment firm. How Can VCs Get Involved with Blockchain?
It might be a little too late for VCs to join the blockchain revolution. The original early stage cherry-picking model of VCs calls for identifying a revolutionary technology before anyone else, rather than jumping on an already moving wagon.
In addition to traditional equity investment in blockchain-oriented companies, VCs can act prudently, starting with new and creative formations. For instance, they can raise blockchain dedicated funds or hedge funds, re-contracting their LPs regarding the new rules of the game, such as raising a part of the fund through ICO or investing in liquidated securities such as cryptocurrency tokens.
Another option is to invest in the economy created by an ICO, or in its token adoption, rather than buying tokens in the ICO itself. This can be done by providing money, real estate, computing power, guidance or support to developers that are building on top of the blockchain protocol.
We at coin.best provide unbiased ICO reviews through an objective analysis and rating system, allowing blockchain investors to better understand the ICO market
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Bitcoin Price Rally is Just Getting Started, Says LightSpeed Venture's Partner - NEWSBTC

This is the best tl;dr I could make, original reduced by 50%. (I'm a bot)
Bitcoin still holds the distinction of being one of the best-performing assets of 2017, despite its recent drop in price, which has since then recovered.
While people continue to wonder whether Bitcoin's current price trend is a bubble or not, one person says that the cryptocurrency is just getting started and will soon reach new heights mostly driven by the people's need to have an alternative investment.
According to Jeremy Liew, a partner at Lightspeed Venture Partners, the demand for Bitcoin and other cryptocurrencies will continue to grow in the coming days as the world continues to move towards instability, in terms of geopolitics, military interventions, etc.
The steadily growing currency inflation in many countries has increased the risk of an economic meltdown, which will also play a crucial role in driving the demand for Bitcoin.
The current status of Venezuelan economy stands proof of the connection between Bitcoin demand and high rates of inflation.
There have been many price predictions in the recent days that puts Bitcoin's price anywhere between $5000 to $1 million in a span of 3-5 years.
Summary Source | FAQ | Feedback | Top keywords: Bitcoin#1 cryptocurrency#2 price#3 demand#4 alternative#5
Post found in /Bitcoin, /btc, /BitcoinAll and /CryptoCurrency.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
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Ripple Labs’ Grand Plan to Build a Global Payment Protocol

It’s no coincidence that Ripple Labs was formed in 2012 to be a part of a payments revolution.
In 2013, the price of bitcoin hit a high that many had not thought possible, creating a sentiment that new and distributed technologies could change the global financial order on a fundamental level.
This enthusiasm is the driving force behind Ripple, and one of the reasons that it has already raised $6.5m in angel and seed funding from the likes of Andreessen Horowitz, Google Ventures and Lightspeed Venture Partners.
The company says it has raised capital in its early stages because it aims to build the best global payment protocol, and it needs to hire talented people to do so.
“You need a big team,” explained Ripple CEO Chris Larsen. “If this is really going to be a global protocol, it needs that [team].”
http://www.coindesk.com/ripple-labs-grand-plan-build-global-payment-protocol/#
submitted by bitkeef to Ripple [link] [comments]

NYDFS Virtual Currency Public Hearing Video Links

The New York Department of Financial Services held a Virtual Currency Hearing on Jan 28-29 2014.
You can view the videos for the 2-day talks here: http://www.totalwebcasting.com/view/?id=nysdfs
But, if you'd prefer to download the mp4 files directly, you can find them here:
Day 1, Panel 1
Day 1, Panel 2
Day 2, Panel 1
Day 2, Panel 2
Day 2, Panel 3
Sorry for the mediafire links (and awful CAPTCHAs) -- suggest an alternate host that would be preferable.
Here is the information for each panel on both days:

NYDFS PUBLIC HEARING REGARDING VIRTUAL CURRENCIES :: January 28-29, 2014

Panel 1 Day 1- The Investor Perspective: The Future of Virtual Currencies
Panel 2 Day 1- Virtual Currencies and Regulation in an Evolving Landscape
Panel 1 Day 2- Law Enforcement and Virtual Currencies
Panel 2 Day 2- Virtual Currency Commerce and Consumer Protections
Panel 3 Day 2- The Academic View on Virtual Currencies
edit: formatting
submitted by TKRSRY to Bitcoin [link] [comments]

David Chen of Lightspeed Ventures visits Plug and Play Bitcoin BRAND NEW BITCOIN MINERS And Set UP! - Gmod DarkRP LIFE 44 ... Jeremy Liew, Lightspeed Venture Partners Lightspeed Ventures Closes Over $4 Billion to Fund Entrepreneurs SmartMoney Silicon Valley:Venture Capital Bitcoin Crowdfunding Angel Investing #smartmoneysv

Tracking Bitcoin news and the incredible adoption of Bitcoins! Tag Archives: Lightspeed Venture Partners. 22 Bitcoin Companies Issued Subpoena by New York Department of Financial Services. August 13, 2013 News. Like this? Share it. 22 Companies Called to New York to Answer Questions about Bitcoin. The New York State Department of Financial Services has subpoenaed 22 companies in an effort to ... Lightspeed Venture Partners is set to become the latest addition to Silicon Valley’s growing interest in blockchain endeavors. The top-tier VC firm is now explicitly investigating how to create a new cryptocurrency investment project. Lightspeed has a specific focus on investments centered on enterprise technology, consumer, and cleantech markets. The Bitcoin News – Bitcoin and Blockchain News. News. Breaking Bitcoin News; Bitcoin News; Tutorials. What is Bitcoin? Who is Satoshi Nakamoto? Bitcoin White Paper – Satoshi Nakamoto; How does Bitcoin Mining work? Set up a wallet ; What is Ethereum? What is the Blockchain? What is a Hard Fork? What is a Soft Fork? Crypto Price Charts; Home Bitcoin News Bitcoin Price Rally is Just Getting S ETF NEWS; STRIKE PRICE-CRYPTO; GLOBAL MACRO; FIXED INCOME; FINTECH-BLOCKCHAIN; PEOPLE PROFILES; INSIDER TIPS. Content Sponsorship; TOP TWEETS; Tag Archives: LightSpeed Ventures bitcoin. People Profiles, Strike Price, Tech Talk. The 1st Regulated Bitcoin Bourse? Frmr Goldman Sachs Algo Trader Pitches LedgerX as a Regulated Exchange . January 28, 2015 MarketsMuse Staff Reporter Leave a comment ... Bitcoin Price Rally is Just Getting Started, Says LightSpeed Venture’s Partner – NEWSBTC. Posted on June 22, 2017 by 1 Bitcoins. 1 Bitcoins. Bitcoin News and Search. 1 News -24 7 News -24 7 Bitcoin -1 Search. Search for: submitted by /u/slacker-77 : 1 Bitcoins. Bitcoin News and Search. 1 News -24 7 News -24 7 Bitcoin -1 Search. Search for: Posted in Bitcoin News, News, Reddit Tagged 247 ...

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David Chen of Lightspeed Ventures visits Plug and Play Bitcoin

Crypto Capital Venture is big on tracking bitcoin and litecoin market in particular. The general premise of technical analysis videos on Crypto Capital Venture is that although Bitcoin price and ... David Chen, Associate Partner at Lightspeed Venture Partners, stopped by Plug and Play on Wednesday, April 9th, 2014 to help the startups involved in Plug and Play Bitcoin, a startup accelerator ... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Barry Eggers, Founding Partner, Lightspeed Venture Partners & Randy Pond, CFO, Pensando Systems sit down with theCUBE's Jeff Frick for Welcome to the New Edg... Lightspeed's Liew on his new e-commerce venture and Facebook's crypto roll ... Lightspeed Ventures' Liew on Snap and Celebrity-Backed Startups - Duration: 5 :35. Bloomberg Technology 1,364 views ...

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