Blockchain Daily News – Edition 80, 25.10.2017
October 25, 2017
Blockchain Daily News – Edition 82, 27.10.2017
October 27, 2017

Blockchain Daily News – Edition 81, 26.10.2017

Blockchain Daily News

by Florin Oprea

Edition 81, 26.10.2017

Fans’ Section

Bitcoin Is ‘Bubblish’ But Blockchain Attractive, Chinese Investment Banker Says

Ryan Browne – CNBC

Fan Bao, CEO of investment bank China Renaissance:

Bitcoin is not as attractive as the distributed ledger technology that underpins it

I think we have to separate bitcoin from the blockchain

I think blockchain is very exciting technology, probably the most disruptive technology in our industry, the financial services industry.

DNT: Are these types of statements a surprise for anybody?  No? You can say it again! …”separate bitcoin from the blockchain” is the main purpose of this fast-growing army.

So, let’s resume this assault with the words of french writer François de La Rochefoucauld: “Self-interest makes some people blind, and others sharp-sighted”.

FAO: They, the “cryptoverse’s” true fans, won’t get tired of saying the same thing, again and again, and we promise we won’t get tired of spotting them all and publishing their thoughts.

Fan Bao uses (a kind of) diplomacy here. Maybe because he’s coming from Bitcoin’s biggest market? His words were: (Bitcoin is) “getting a little bit bubblish”. Hmmm, let’s try to translate:

“is getting” – means “it wasn’t, until now”?,

“Bubblish” – means “it’s almost a bubble” – so it’s not?

We came across this famous Chinese saying: “近水知鱼性, 近山识鸟音jìn shuǐ zhī yú xìng, jìn shān shí niǎo yīn – Near to rivers, we recognize fish, near to mountains, we recognize the songs of birds. It is very important to make on-the-spot investigations”

“Of Course It’s A Bubble”: Ethereum Cofounder Joe Lubin Isn’t Worried About A Crash

Dave Gershgorn – Quartz

For Wall Street analysts and investors trying to figure out whether cryptocurrencies like bitcoin and ether are destined to deflate, Ethereum co-founder Joseph Lubin has an answer for you: yes.

DNT: An example of raw sincerity…

FAO: Lubin also said: “These bubbles bring attention, they bring value into the ecosystem. That value is recognized by software developers and business developers, and they create fundamental value and projects that grow the new architecture.”

And we have another Chinese saying: “人心齐,泰山移 rén xīn qí, tài shān yí – When people work with one mind, they can even remove Mount Taishan

NYU’s ‘Dean Of Valuation’ Says He’ll Be ‘OK’ With The Price Of Bitcoin If He Can Use It To Buy And Sell

Evelyn Cheng – CNBC

Wall Street’s “dean of valuation” Aswath Damodaran said that bitcoin’s price could be justified if it is widely usable as a currency for daily transactions.

DNT: Now, this is a totally different type of approach. A practical one. For Damodaran BTC “is not an asset, but a currency”.

Exchanges & Trading Venues

Two Indonesia Bitcoin Payments Platforms Shut Down

Antonia Timmerman  – Deal Street Asia

Bitcoin payment platforms Toko Bitcoin and Bitbayar have closed down following recent announcements made by Bank Indonesia – which stated that it will not recognize bitcoin as a means of payment.

DNT: The side effects of central banks policy are starting to appear…

Korea’s Largest Cryptocurrency Exchange ‘Upbit’ Starts Providing Open Beta Services

Yoon Yung Sil – Business Korea

Korean fintech company Dunamu Inc., which operates a popular securities trading app called Kakao Stock, announced that it has started providing an open beta service for a cryptocurrency exchange called “Upbit”.

Cryptocurrency Service Platform COBINHOOD Completes Successful ICO, Prepares For Zero Fee Exchange Launch

PR Newswire

COBINHOOD announced the completion of its ICO. The platform has successfully raised 10 million USD equivalent ETH through ICO.


How QUOINE Will Help Cryptocurrencies Reach $200 Trillion Market Cap

Avi Mizrahi – Finance Magnates

Mike Kayamori, co-founder and CEO of QUOINE, talks about solving one of the biggest issues for cryptocurrencies and ICOs.

FAO: QUOINE LIQUID aims to create the “World Book”, a global order book, to provide global liquidity in cryptocurrencies. Take that Jamie….


Japan Brings Cryptocurrencies In From The Cold

Emiko Terazono – Financial Times (subscription)

As cryptocurrencies draw both greater interest and scrutiny in countries from the US to Switzerland, Japan has quietly become one of the largest hubs for trading bitcoin.

DNT: Meanwhile in Japan…

FAO: The “cryptoverse’s” undisputed champion.

Bitcoin Is a Commodity Not A Currency, Says South Korean Central Bank Chief

Wolfie Zhao – CoinDesk

The head of South Korea’s central bank has ruled out classifying bitcoin as a currency, arguing that cryptocurrencies are a form of commodity instead.

DNT: A few lines above, we had a different opinion from Aswath Damodaran, Wall Street’s “dean of valuation”. So, what is BTC: a currency, a commodity/asset?  Or both?  Who’s right? Personally, I think it can be both. Send us your thoughts.

Startups, Accelerators & Hubs

City Of Tokyo Announces Blockchain Startup Accelerator

Stan Higgins – CoinDesk

Tokyo is organizing a new blockchain-focused startup accelerator, set to officially start in January. Tokyo Metropolitan Government is working with Japanese think tank Nomura Research Institute on the “Blockchain Business Camp Tokyo,” the third iteration of a series of accelerator programs that have focused on emerging technologies.

DNT: “Meanwhile in Japan 2”.

FAO: Decebal’s comment sounds like a movie title. Yeah, it’s a Sci-Fi. Japan is “light years” away from any other country in the world…so what else can they do in the future?


Wall Street Strategist Tom Lee Recommends Risky Over-The-Counter Bitcoin Trust

Evelyn Cheng – CNBC

A well-respected Wall Street stock strategist is increasing his bets on bitcoin. Fundstrat’s Tom Lee told clients in a report that the Bitcoin Investment Trust, trading under the GBTC ticker, is an “attractive” buy.

FAO: Ahem, said what?

Other news

I Spent A Day Trying To Pay For Things With Bitcoin And A Bar Of Gold

Emmanuel Ocbazghi, Graham Flanagan & Sara Silverstein – Business Insider (video)

In an effort to fairly compare gold and bitcoin in this vein, we went out into the world to see how easy it was to spend both in everyday transactions. It turns out it isn’t easy to spend either.

DNT: Very useful story on a hot topic: store of value vs. medium of exchange. What can we really do with BTC & Gold? Find out in a 2 minutes and 33 seconds video. Or you can read the text.


Bitcoin Matters Not Just Blockchain

Daniel Roberts – Yahoo Finance

There’s a paradox inherent in raving about blockchain but disparaging bitcoin, since the two originated together.


FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News