Blockchain Daily News – Edition 87, 03.11.2017
November 3, 2017
Blockchain Daily News – Edition 89, 07.11.2017
November 7, 2017

Blockchain Daily News – Edition 88, 06.11.2017

Blockchain Daily News

by Florin Oprea

Edition 88, 06.11.2017

Fans’ Section

Goldman CEO Sees Bitcoin In The ‘New World’

Darryn Pollock – The Cointelegraph

Don’t Pooh Pooh Bitcoin: Goldman Sachs Chief

Harje Ronngard – Money Morning

At the moment it’s hard to see how bitcoin isn’t a bubbly asset. Investors are buying into the coin with the hope that prices will continue to rise and sell their holdings for a handsome profit. But of course this wasn’t what bitcoin was created for.

Lloyd Blankfein, Goldman Sachs Group chief: “I read a lot of history, and I know that once upon a time, a coin was worth $5 if it had $5 worth of gold in it. Now we have paper that is just backed by fiat…Maybe in the new world, something gets backed by consensus.

FAO: Clever words from a clever man. Not the first time Blankfein talks about Bitcoin (more here). Maybe other people in the financial industry should at least stop talking and start listening/learning.

Deutsche Bank: We May Be Looking At ‘The Start Of The End Of Fiat Money’

Thomas Colson – Business Insider

Deutsche Bank isn’t known for its gold bugs, but that hasn’t stopped its strategist Jim Reid from writing a paper that discusses “the start of the end of fiat money.”

FAO: “Blasphemy!” some would cry out loudly…

Citibank’s UK Brokerage Platform Offers Access To Ether ETNs

Tanzeel Akhtar – The Street

The UK brokerage platform of Citibank, Citigroup’s consumer division, is offering clients access to Ether exchange traded notes, according to XBT Group, a Sweden-based company that is providing the cryptocurrency investing platform.    

FAO: Oh my…they are offering what? Would love to hear Jamie Dimon talking about this…

One Of The Biggest Bitcoin Bulls On Wall Street Just Turned Cautious

Arie Shapira – Bloomberg (subscription)

First Wall Street Strategist To Embrace Bitcoin Is Now ‘Cautious’

Evelyn Cheng – CNBC

The only major Wall Street strategist with an official price forecast for bitcoin turned “cautious” as the digital currency soared above $7,000 to record highs.

We are “cautious short-term on bitcoin,” Fundstrat co-founder Tom Lee said in a report. He said bitcoin has gained far more than fundamentals warrant right now.

FAO: It was a pretty wild move in Bitcoin’s price last week, don’t you think? Earlier this year, in September, Tom Lee said he sees Bitcoin surging another 600% in 5 years.

If You Follow Us You Will Make Money’: How Bitcoin Is Marketed To The Masses

Kadhim Shubber – Financial Times (subscription)

The rapid increase in value of Bitcoin and another cryptocurrency, Ethereum, as well as a frenzy of fundraising through “initial coin offerings”, has attracted everyone from thoughtful technologists to chancers hoping to make a quick buck and ordinary people who feel like they might miss out on the fortune of a lifetime.

DNT: First I thought this is a simple PR story…But, in fact, it’s a true story about how PR and direct marketing can work in the world of cryptos.

Cryptocurrencies

China’s Central Bank Is Developing Its Own Digital Currency, Even As It Bans Bitcoin And Private Cryptos

Sarah Dai – SCMP

China’s central bank is conducting research to issue the country’s own sovereign digital currency, a move in parallel with similar efforts ongoing in Russia, even as the government has doubled down on banning the use and exchange of bitcoin and other cryptocurrencies.

FAO: Yao Qian, People’s Bank of China (PBOC): “The development of digital economy needs central bank-issued electronic currency more than ever. It’s crucial to speed up the research and issuance.”

Yeah, if you don’t want to lose control (and taxes) of the digital economy it’s crucial to issue your state crypto…ASAP…

DNT: Why this does not surprise me? I think instead of “even as it bans BTC” we rather should say: that is why it banned it! Don’t you agree?

Exchanges & Trading Venues

China’s Bitcoin Exchanges Are Shifting Business Models

Wolfie Zhao – CoinDesk

Some of China’s top bitcoin exchanges are now shifting to the over-the-counter (OTC) market in the wake of a crackdown by regulators in the country.

FAO: More about China’s shapeshifting “cryptoverse”…

DNT: Of course they do…More on this topic in our Archive.

SEC More Likely To Approve Blockchain ETFs Than Bitcoin ETFs

Tanzeel Akhtar – The Street

Two ETF Sponsors File For Funds Related To Blockchain, Bitcoin’s Foundational Technology

Ryan Vlastelica – Market Watch

Two different companies filed for what would be the first exchange-traded fund to track the blockchain ecosystem on Thursday, in a bid to offer investors exposure to one of the most hotly watched new technologies in years.

FAO: Another sample of the “blockchain good, bitcoin bad” attitude…

Vendors

Trust No One: Ethereum Smart Contract Security Is Advancing

Alyssa Hertig – CoinDesk

Everyone here is a target for attack. Be paranoid.

That’s how Ethereum Foundation security lead Martin Swende ended his deep-dive lecture on smart contract security at Devcon3.

FAO: Ethereum security was also on the list of topics at Devcon3.

DNT: I’ll be the shadow of your shadow…

Zk-Snarks Everywhere: Ethereum Privacy Tech Hits Tipping Point

Rachel Rose O’Leary – CoinDesk

Despite his reservations, the crowd scrambled for seats as zcash researcher Andrew Miller took to the stage at Devcon3.  

Public Blockchain Projects Lack Proper Funding, Ethereum Co-founder Has Ideas

Pascal Thellmann – The Cointelegraph

Vitalik Buterin, the co-founder of Ethereum, has been an outspoken critic of the lack of funding for public open-source projects. In a day and age where ICOs are raising more money than traditional venture capitalism, a need has arisen for alternative funding models for projects that contribute to community.

BitPeople

Why Is Blockchain A big Deal? Big Enough That It’s The New Rage At US Business Schools

SCMP

US business schools are strengthening training in the software that underlies digital currency bitcoin, a technology expected to be a game changer in many industries.

Blockchain’s Explosive Growth Pushes Job Skills Demand To No. 2 Spot

Lucas Mearian – Computerworld

Blockchain developers now rank second among the top 20 fastest-growing job skills, and job postings for workers with those skills have more than doubled this year.

FAO: The natural consequences of an accelerating expansion of the “cryptoverse”.

Other news

Bjork’s Latest Album Available With Bitcoin, Other Cryptocurrencies

Jon Buck – The Cointelegraph

Known for embracing all things edgy, musician Bjork has announced that her latest album, Utopia, will be available for purchase through cryptocurrencies. The artist will accept Bitcoin, Litecoin, DASH, and AudioCoin.

FAO: How cool is that?

DNT: An example to be followed by other musicians/artists.

Opinion

Bitcoin Is On The Same Path As Every Bubble In History

Tom  Stevenson – The Telegraph

FAO: Yeah, but people are still trading tulip bulbs and tech shares, aren’t they?

Data Is The Real Cryptocurrency Big Corporations Cannot Get Enough Of

Philip Aldrick – The Times (subscription)

There is another, modern means of exchange that is anything but worthless and yet, unlike Bitcoin, seems to have no value. It’s data. Your data, my data, everyone’s data. In a world where so much comes for nothing, from satellite navigation to photographs, we are paying in data.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News