by Florin Oprea
Alexander Osipovich & Gabriel T. Rubin – Wall Street Journal (subscription)
Rob Urban, Camila Russo & Brian Louis – Bloomberg
Futures on bitcoin surged as much as 26% in their debut session on Cboe Global Markets Inc.’s exchange, triggering two temporary trading halts meant to cool volatility. Initial volumes exceeded dealers’ expectations, while traffic on Cboe’s website was so heavy that it caused delays and outages. The website’s problems had no impact on trading systems, Cboe said.
DNT: Now that’s what I call a heavy impact! BTC Futures euphoria has begun!
FAO: Looking forward to seeing its debut on CME too. In a week from now!
Michelle Fox – CNBC
Former market regulator Bart Chilton believes trading bitcoin futures will be safe and could actually help stabilize the cryptocurrency.
Bart Chilton: “They know what they are doing in these markets. CME is the most liquid, diverse traded futures contracts around the world,”
FAO: For all you bitcoin (=progress) haters out there, here’s Bart Chilton discussing its future (s)… oh, and announcing OILCOIN Project...Interesting!
Olga Kharif – Bloomberg (subscription)
Cameron Winklevoss, thought to be one of the largest holders of bitcoin, thinks the cryptocurrency’s blazing gains this year are just the start. He predicts it will rise as much as 20-fold as investors come to view it as an upgrade to gold.
DNT: No wonder..Anyone in this place would say the same. That doesn’t mean it can not happen. Take a tour of our FREE ARCHIVE to see more predictions about BTC. For instance, John McAfee said BTC price target from $500,000 to $1 million by 2020 – details here, Fans’ Section. Michael Novogratz also made a bold prediction about BTC, saying it be at $40,000 at the end of 2018, read here, also in our Fans’ Section.
Olga Kharif – Bloomberg (subscription)
About 40% of bitcoin is held by perhaps 1,000 users; at current prices, each may want to sell about half of his or her holdings, says Aaron Brown, former managing director and head of financial markets research at AQR Capital Management.
FAO: Or they may not…at time of writing BTC is $16,800, up more than 20% in the last 24h (includes the Cboe’s bitcoin futures launch time).
DNT: If you like this topic, we have another story about BTC “whales”, a few lines below, in Opinion Section.
Rebecca Pinnington – Express.co
Major financial exchanges are set to launch bitcoin futures trading in a sign of the cryptocurrency’s shift to the mainstream.The move could prompt Russia to stop using the US dollar to trade crude oil, using cryptocurrency instead. US sanctions have hit Russia’s oil trade particularly hard, as oil is typically traded in dollars.
FAO: Hmm… BTW Bart Chilton announced a project he is currently focusing on, OILCOIN. Check the CNBC video in Fans’ Section.
Alyssa Hertig – CoinDesk
Rather than updating bitcoin’s underlying software (which has proven to be a messy process), Lightning essentially adds an extra layer to the tech, one where transactions can be made more cheaply and quickly, but with, hypothetically, the same security backing of the blockchain.Proposed as far back as 2015, Lightning has progressed gradually over the years, migrating from white paper, to prototype, to more advanced prototype.
Stan Higgins – CoinDesk
The zcash development team is planning a series of network upgrades for next year.
Writing on the zcash blog, co-founder Zooko Wilcox and CTO Nathan Wilcox detailed two milestone upgrades – “Overwinter” and “Sapling” – the latter of which was discussed in a roadmap update earlier this year. According to the post, the goal of next year’s upgrades is to “further upgrade zcash’s performance, security, and usability.”
Nikhilesh De – CoinDesk
Huobi is partnering with SBI to launch a pair of cryptocurrency exchanges. Sometime next year, the two exchanges – dubbed “SBI Virtual Currency” and “Huobi Japan” – will offer yen-denominated cryptocurrency services, according to a statement on Huobi’s website.
FAO: Here’s a thought: can anyone calculate the cryptoverse’s expansion speed? You can use (bitcoin wallet provider) Blockchain’s data, see below…
Oscar Williams-Grut – Business Insider
Blockchain, the world’s biggest provider of bitcoin wallets, saw a huge surge in new sign-ups last week as bitcoin’s price skyrocketed. Blockchain CEO Peter Smith said in an email to investors that the company “added half a million new sign-ups this week alone.”
DNT: Whoa..no need for further comments…As I already said, BTC in already mainstream.
Lucas Matney – TechCrunch
The CEO of Coinbase is urging users to be responsible about their investments. “We also wanted to remind customers of some of the risks associated with trading digital currency,” CEO Brian Armstrong wrote. “Digital currencies are volatile and the prices can go up and down.”
DNT: Armstrong also warned about possible breaches in accessing Coinbase services that “may become degraded or unavailable during times of significant volatility or volume”.
Shotaro Tani – Nikkei Asian Review
R3 believes distributed ledger can change global finance for the better.
Camila Russo, Katia Porzecanski – Bloomberg (subscription)
The cryptocurrency craze suddenly doesn’t seem so crazy in countries that know a thing or two about hyperinflation.
Emily Parker – MIT Technology Review
It is trying. But the cryptocurrency is bigger than any country, even the one where it has been most popular.
Andy Mukherjee – Bloomberg (subscription)
The seminal financial event of this year, the current decade, and possibly our generation is here: Futures trading in bitcoin has begun. But the derivative that would really damp the current crypto frenzy and make digital tokens a speculator-friendly — if not investment-worthy — commodity, currency, tulip, or whatever, isn’t futures. It’s options.
FAO: A matter of time!
Robin Harding – Financial Times (subscription)
The Japanese exchange at the heart of bitcoin’s recent surge has said its investors are fuelling the cryptocurrency’s feeding frenzy as they buy in with leverage up to 15 times their cash deposit. Yuzo Kano, CEO of bitFlyer, said that the liquidity on his Tokyo-based exchange – which has an 80% share of bitcoin trading in Japan and 20-30% of the global market – was deep enough to handle even the biggest market movements
Sean Williams – The Motley Fool
The IOTA foundation announced the release of its Data Marketplace that utilizes its “blockless” blockchain. This blockchain-based marketplace will allow businesses to sell data in an effort to create incentive for the sharing of data that would otherwise be wasted. Five brand-name businesses have already signed up to test the two-month demo, including software giant Microsoft, Cisco Systems, Samsung, Volkswagen, and Fujitsu.
Jared Blikre – Yahoo Finance
Bitcoin prices are booming, but the market is a hot mess right now. The cryptocurrency soared as high as $19,230 according to Coinbase. Or was the high $16,672, as Yahoo Finance’s official bitcoin price index says it was? The fact is, the cryptocurrency is straining under the weight of a sluggish, outdated infrastructure — just as it’s about to go mainstream.
Allana Akhtar – Money.com
Just as bitcoin trading hit record highs hackers made off with nearly $70 million from a major cryptocurrency-mining service NiceHash. The Slovenia-based company announced the security breach on its Facebook page and stopped operations for 24 hours.
FAO: Discusses last week’s “NiceHack”, oops, sorry, NiceHash hack.
Robin Wigglesworth – Financial Times (subscription)
The bitcoin mania is spilling over into semi-related, niche areas of the broader financial markets, where a clutch of cryptocurrency funds, blockchain companies and digital currency groups have rocketed in value.
Ken Hanly – Digital Journey
In the context of bitcoin trading the term “whale” is used to refer to players with big money who, according to some, by their actions may “make waves” in the bitcoin market by their huge size and their motions.
Elaine Ou, Julie Verhage – Bloomberg (subscription)
A Q&A between Julie Verhage, a blockchain engineer and Bloomberg View columnist and Elaine Ou – who covers markets for Bloomberg News, on crypto-assets and the resources involved in bitcoin mining.
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News