by Florin Oprea
Angelo Calvello – Institutional Investor
Dimon’s rant, which was one of many banking titan rants against Bitcoin in recent weeks, was not so much a disavowal of Bitcoin as a strident public defense of the existing investment industrial complex. Frankly, he couldn’t care less about the price of Bitcoin; what he does care about is the continued hegemony of intermediaries.
DNT: Frankly, I kinda missed the stories about Mr. Jamie Dimon. This one is really good and it underlines the true motivation behind the statements of “banking titans” who have tried to protect the most precious thing they have: the domination of financial system. Do you remember “Lord of the Rings” series? …It’ a ”my preciousss” type of attitude…
FAO: Speaking of “strident public defense of the existing investment industrial complex” as Angelo Calvello put it in the article above, here’s another titan, Mohamed El-Erian, the former CEO of PIMCO. He’s back after a previous intervention in a Bloomberg piece 2 months ago (reported here). Something is telling me that Jamie will soon be back too. Oh, btw, Bitcoin just reached $7000…
Yen Nee Lee – CNBC
Bitcoin, despite the large amount of interest it has attracted, has not achieved the kind of stability a currency should possess, Allianz Chief Economic Advisor Mohamed El-Erian said, adding that he agrees with the notion that the cryptocurrency is more of a commodity.
DNT: Check our Archive for more opinions on this topic.
John Detrixhe – Quartz
Bitcoin is growing up. CME Group, the world’s largest derivatives exchange, said yesterday that it will create a futures contract for trading the cryptocurrency, another sign it is becoming a mainstream financial asset like gold or oil. The news sent the bitcoin price soaring to yet another new record, surpassing $6,500 for the first time.
FAO: John Detrixhe, a true connaisseur of the exchange business, talks about yesterday’s main topic – CME’s launch of a Bitcoin futures contract and what it means for the exchange industry.
Alex Frangos – The Wall Street Journal (subscription)
Say you’ve discovered a wad of cash in a secondhand coat or, more appropriately, a wad of virtual bitcoin on the hard drive of a used computer. With the virtual currency up nearly sevenfold against the dollar this year, do you sell or hold?
FAO: The acquisition of Fortress Investment by SoftBank brought the latter a “small” bonus.
DNT: First of all, celebrate! BTC hit $7000!
Samuel Haig – Bitcoin.com
China’s major exchanges have found a legitimate means through which to continue operations despite the Chinese government crackdown on cryptocurrency exchanges.
DNT: Nice and probably efficient move of China’s exchanges.
FAO: As Chinese crypto-exchanges rethink their business models and/or move to friendlier jurisdictions, should we expect more actions from the government? Is China ready to lose more business? We think not!
Clearing houses and CCPs play a pivotal role in managing collateral and counterparty risk, in increasing standardisation and transparency of financial markets, and in the credit enhancement process for clearing banks.
Rachel Rose O’Leary – CoinDesk
The goal of the project is to provide developers with a toolkit that could help them realize the potential of a much-anticipated blockchain privacy tool called zk-snarks.
FAO: Devcon, the Ethereum Foundation developers conference, has begun yesterday. Buterin was the first to present – read more about his plans in the following section.
Rob Wile – Money
It’s been a very good year for Bitcoin, with the cryptocurrency climbing more than 600% to over $6,000. As result, one of Bitcoin’s largest holders appears to now be worth nearly $6 billion.
Laura Shin – Forbes
NextBlock Global is going public in Canada and raising $100 million CAD ($77 million USD), falsely named four blockchain stars as advisors in an investor document.
FAO: Dude! That’s a gross faux pas!
Alyssa Hertig – CoinDesk
What do you do after you’ve created a multibillion-dollar cryptocurrency? A skinny, 23-year-old hacker in a green “Doge” t-shirt gave an answer At ethereum’s flagship conference, Devcon, project creator Vitalik Buterin revealed he has been quietly working on a new long-term plan for the future of the blockchain network. What he called a “modest proposal,” it’s perhaps better described as a three-to-four-year roadmap for ethereum’s technical development.
FAO: Buterin shared his plans for Ethereum at Devcon3. A new solution called “sharding” is proposed as the “likely” solution to the scalability problem. Worth reading!
Sharon Lam – Forbes
At first glance, Indonesia possesses the unique conditions that make it well-poised for bitcoin adoption. As the world’s fourth most populous country, it’s home to a largely cash-based and offline community, and huge swaths of the population—up to 80%— remain unbanked.
Devcon3 – Nov 1-4, 2017 Cancun, Mexico – more here.
Frank Chaparro – Business Insider
Bitcoin blew past $6,900 Wednesday even after the Securities and Exchange Commission warned investors about celebrity endorsements for certain cryptocurrency-based fundraising efforts.
FAO: Looks like nothing can stop it! Right? Hmmm..
Stan Higgins – CoinDesk
E-commerce giant Amazon has registered three cryptocurrency-related web domains, online records show.
Gunjan Banerji – Fox Business
Longtime participants of derivatives markets say starting up a healthy, thriving market for cryptocurrency futures or options could be complicated. They point to issues like how to value bitcoin derivatives and whether there will be enough traders who can consistently post prices.
FAO: Absolutely! It will take time to “accommodate” so many “players”, but what matters is that the course was set.
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News