Swedish Coin Collection (2018)
Forget an ETF, Here Is How You Can Invest In Bitcoin
We’ve reasons to believe Tron (TRX) is way better than EOS, here they’re
3 days to go for Tron (TRX) Virtual Machine launch: What you need to know
Stellar (XLM) may take over the Ripple’s XRP place in the market dominance
Institutions Buying and Holding Ripple’s XRP Will Rise in Q3 this Year
Cardano (ADA) is determined to beat Ethereum in the smart contract game
Bitcoin (BTC), Ethereum (ETH) and Ripple’s XRP post-bloodbath predictions
We’ve reasons to believe Tron (TRX) is way better than EOS, here they’re
3 days to go for Tron (TRX) Virtual Machine launch: What you need to know
Pornhub picks PumaPay for recurring Tron (TRX) and Verge (XVG) payments
Stellar (XLM) may take over the Ripple’s XRP place in the market dominance
NEM (NEM) or Ripple (XRP), which cryptocurrency is the best bet right now?
Forget an ETF, Here Is How You Can Invest In Bitcoin
Investors in the United States are eagerly and patiently waiting for the SEC to make a decision on
that has been filed by the CBOE exchange. Many believe that
would be a safer, more regulated option than to dive into crypto through the numerous crypto exchanges. An Exchange Traded Fund (ETF) is a safer option for it is a type of fund that owns the underlying asset – in this case Bitcoin – and divides the ownership of those assets into shares. Shareholders indirectly own these assets and are entitled to a proportion of the profits of the fund and are protected by the law, hence making it safer for individual traders.
The American public has posted over 1,300 comments
from the public on the SEC’s website in support of the ETF best exemplifies why individual investors want it:
satisfies the SEC’s concerns in protecting investors and maintaining fair markets. It is 100% insured and will target institutional investors who are capable of making informed investment decisions. In addition, this ETF will be backed by actual bitcoins. This will reduce concentration of bitcoin by “whales” and further distribution. By opening the market to more investors, an ETF will provide liquidity and transparency to the bitcoin market which will minimize the ability to manipulate the market.”
So what other option do individual US investors have as they wait for a Bitcoin ETF?
recently reported that a Bitcoin Exchange Traded Note (ETN) has been available for purchase on the Nasdaq Stockholm exchange since 2015. ETNs are debt instruments that are backed by their issuers — often a bank — rather than a pool of assets and often focus on esoteric strategies that don’t easily fit in a fund.
And now American investors can purchase this Bitcoin ETN more efficiently from as early as August 22nd, though it will still be listed and regulated in Sweden. The product, called Bitcoin Tracker One, will now be quoted in U.S. dollars under the ticker CXBTF thus helping brokerages to offer it to American investors.
product that the SEC can acknowledge and benchmark in their decision to pass a Bitcoin ETF in the United States.
Ryan Radloff, the CEO of CoinShares Holdings Ltd., the parent of the company that offers the ETN, had this to say with regards to the ETN:
“Everyone that’s investing in dollars can now get exposure to these products, whereas before, they were only available in euros or Swedish krona. Given the current climate on the regulatory front in the U.S., this is a big win for Bitcoin.”
It is also a big win for the US investors who wanted a fully regulated product that has Bitcoin as an underlying asset. An ETN clears the path for
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full
The First ‘Ready Player One’-Style Gaming Multiverse is Forming on the Blockchain
GENEXI Biotech Accelerator. The Platform MVP Release
IOTW Leverages IoT, New Blockchain Algorithm to Help Miners Generate Coins with Electrical Devices
The year is 2038, and many of us have aged a bit. Some of us dudes have accepted our fate as having lesser hair on our scalp. Perhaps
would be a reality by then, and HODLers would be the lucky few who own them. That is because the cryptocurrencies of Bitcoin (BTC), Ethereum (ETH), XRP, Tron (TRX), etc., have blossomed to their full potential and become mainstream investment instruments.
What we are going through now – in 2018 – are growing pains that are sure to separate the so-called ‘weak-hands’ from the long-term HODLers who have seen the future like Doctor Strange in the Marvel Universe.
So let us travel forward 20 years in time and see what our favorite digital assets would be valued at as well as any technical advancements by then.
In 20 years, BTC would have probably experienced a few parabolic moves and peaked at all the predicted levels of $25,000,
, $250,000, $1 Million, etc. These price movements would have even saved John McAfee from
. By then, BTC would be the digital gold and all fiat would have become extinct and displaying in museums next to fuel guzzling Lambos.
More forks of Bitcoin would have emerged by then with each claiming to be the refined version of the original. But the original Bitcoin by Satoshi would be highly sought after by HODLers who believe its value will perhaps reach higher levels above the $1 Million predictions.
The probability of the Ethereum community agreeing to solve scalability issues in 20 years is very high. By then, the network will be processing transactions at speeds that are probably 100 times current levels. The ERC20 token protocol would probably be obsolete and replaced by some other protocol that has fewer vulnerabilities in the smart contracts.
The price of ETH would have crossed the levels predicted at $1,000, $2,000, $10,000 and more. ETH would once again be the best alternative coin to HODL and
apparently merged or acquired Krona Coins , apparently merged or acquired
and any other threat to their ‘global domination.’
would have surpassed the eagerly awaited $10 and done more in gains to levels that have not even been predicted. The monopoly of Ripple software solutions would once again become a cause for concern but not to XRP HODLers who would be reaping the rewards of waiting.
Justin Sun and the Tron foundation would have managed to decentralize the web in 20 years. The digital asset of TRX would have managed to become the gold standard of rewarding musicians, actors and more. By then, the adult film industry would have catapulted TRX to levels that no one imagined due to
will probably have decided to no longer live in the shadows of Big Brother, BTC. Litecoin would have managed to become the preferred digital asset for sending funds through SMS and Telegram messaging through Lite.im.
Also with TokenPay, the Litecoin Foundation would become the Goldman Sachs of crypto banking through the simple fact that they were one of the first to issue crypto debit cards after acquiring a stake at WEB Bank.
In conclusion, and the basis of this futuristic post is to remind crypto-traders and enthusiasts that we are on the cusp of greatness with cryptocurrencies and blockchain technology.
With every new technology that is introduced into the mainstream, there is a reluctance to adopt it immediately for this would be disrupting the ‘Business as Usual’ of doing things. Humans are creatures of habit, and any disruption of that habit is usually met with fear or hostility as we see now.
But 20 years down the line, crypto traders will be flying around in their cars and being glad they kept HODLing.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full
Only two days ago, August 23, the US SEC once again rejected all
requests, this time filed by Direxion and ProShares. Experts claim that the reason behind the rejection is fear of ETFs leading to fraud and market manipulation.
About a month ago, the SEC stated that market manipulation is a real concern, which is why they rejected the Bitcoin ETF request filed by the Winklevoss twins. The twins managed to establish Bitcoin’s values through the use of their crypto exchange, Gemini, which is said to be strictly regulated.
However, this was not enough for the SEC, and the Commission stated that the markets can be relatively easy to manipulate, given the opportunity. Relying on one single exchange to dictate Bitcoin ETFs’ value would be exactly one such opportunity. Bitcoin ETF can potentially lead billions in new capital to the market, and this is too serious an amount, and represents a high risk to the economy, in general.
Prior to the refusal, the twins were convinced that their proposal actually had a good chance to be approved. This was additionally supported by Nasdaq’s involvement, which is the second-biggest stock market in the world.
is involved in Gemini’s operations so that all tradings and the market itself would always remain authentic and completely transparent.
After the SEC rejected the request of the Winklevoss brothers, it received new proposals filed by Direxion and ProShares. Their proposals used CME and Cboe futures markets, which are also very strictly regulated, to try and establish their ETF’s value. However, the SEC found a flaw to this proposal as well and stated that, while CME and Cboe are, in fact, regulated markets, the BTC futures markets are not large enough to be used for establishing the value of ETFs.
According to the government enforcement defense and securities litigation attorney, Jake Chervinsky, the real reason for the SEC rejecting all of these ETFs is the risk of fraud and market manipulation. If the ETF’s design significantly lowers or even prevents these risks, According to the government enforcement defense and securities litigation attorney Krona Coins , these ETFs are not designed in such a way.
He also said that the SEC was not satisfied with the two institutions’ efforts to only rely on the futures markets. This is due to the fact that the majority of BTC trading still goes down in unregulated exchanges and markets. This makes the BTC futures markets too small, as well as unable to provide enough information regarding the market participants’ identities.
market grows, and regulated financial institutions expand enough to create bigger futures markets, the SEC might change its mind regarding the ETFs backed by derivatives. However, for now, the SEC has no intention to approve marked-backed futures in the US. Even so, many believe that the ETFs filed by Cboe and VanEck have the highest chance to actually be approved in a relatively short period, which remains to be seen.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full
As most crypto exchanges are having a hard time retaining business,
is posting record profits that are yet to be declared but will be highlighted below. Looking at the recent analysis of Coinbase, we find that the popular American exchange is having a hard time maintaining a customer base during a bear market. The exchange has experienced a plunge in the volume of 83% since the highs of December and January.
, Coinbase’s volume in July was around $3.9 Billion in trades as compared to $21 Billion back in January during the crypto bull run.
The only exchange that has partially survived the bear market from the above report is
. The exchange’s numbers in July stood at $11.3 Billion in July and those of OKEx reaching levels of $2.9 Billion. We can blame the general decline in trade volume on regulatory uncertainty, constant FUD,
as well as a natural market decline after an impressive rally.
BitMEX was launched in 2014 but did not become popular in the crypto-verse up until around June this year, when traders realized they could make a killing
. The exchange offers perpetual contracts as well as futures contracts. The continuous contracts do not have an expiring date and have a funding rate that occurs every 8 hours. Futures contracts on the platform are settled at the contract’s settlement price.
This, in turn, means you can short the digital assets of Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH),
, EOS, Litecoin (LTC) and Tron (TRX) no the platform. This then opens the floodgates for potential market manipulation from someone or an organization that knows what they are doing.
The terms and conditions for using BitMEX indicate that trading is prohibited in a few countries. One country stands out: the United States. Evidence of this can be seen in the terms and conditions for use which
“…that trading access to or holding positions BitMEX is prohibited for any person that is located in or a resident of the United States of America, Québec (Canada), Cuba, Crimea and Sevastopol, Iran, Syria, North Korea, Sudan, or any other jurisdiction where the services offered by BitMEX are restricted.”
Could it be they are avoiding SEC scrutiny and the long arm of the American Law? Perhaps the financial instruments on BitMEX would not hold water with the SEC.
Profits, Expensive Offices, and Billionaire Founders
in Hong Kong in a move that raises more questions as to how much in profits the exchange is making by offering the unique trading instruments on their platform. The exchange will occupy the 45th floor of the Cheung Kong Center. Their average leasing expenses will add up to around $500k per month.
To add to the question as to how much the exchange is making in profits, Ben Delo, a co-founder of BitMEX, was recently been named Britain’s youngest Bitcoin Billionaire aged at just 34.
The Billion dollar question that now arises is how much is BitMEX making in profits?
In the case of Binance, the exchange has stated that it is eyeing $1 Billion in profits for the year of 2018. Binance does not use the extra leverage instruments on BitMEX, but it has attracted a majority share of global traders. Checking coinmarketcap.com, we find that the daily trade volume of BitMEX is three times that of Binance.
BitMEX vs. Binance trade volume. Source, coinmarketcap.com
Doing the math from the daily trade volume of both exchanges, BitMEX could be targeting $3 Billion in profits at the end of this year or even more.
Therefore, the question as to whether they are getting the funds to rent the best office space in Hong Kong can now be answered. We can also understand how Ben Delo is a Bitcoin Billionaire.
However, there is still the unanswered question as to why trading in the United States is prohibited and as to whether the exchange has protection measures for their users against market manipulation.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full
We’ve reasons to believe Tron (TRX) is way better than EOS, here they’re
Here’s Why Verge (XVG) Could Overtake Monero (XMR)
Why TRON (TRX) is as Promising as the Original Cryptocurrency
Stellar (XLM) may take over the Ripple’s XRP place in the market dominance
3 days to go for Tron (TRX) Virtual Machine launch: What you need to know
Electroneum (ETN): The hidden gem of crypto markets
Ripple’s XRP might conquer the cryptoverse in the third quarter of the year
0 Reviews:
Post Your Review