Garrick Hileman

Garrick Hileman Believes Next Bitcoin Bull Run Will be Fueled by Central Banks Buying “Digital Gold” - Bitcoin Exchange Guide

Garrick Hileman Believes Next Bitcoin Bull Run Will be Fueled by Central Banks Buying “Digital Gold” - Bitcoin Exchange Guide submitted by ulros to fbitcoin [link] [comments]

Trump’s Trade War May Be Driving Chinese Investors to Bitcoin

As the Chinese yuan falls in value due to factors like the ongoing trade war with the U.S., there are signs that locals are increasingly moving funds into bitcoin.

According to a Bloomberg analysis of prices over 30 days, the negative correlation between the yuan and bitcoin has fallen to a record low in the last seven days.

While previously the Chinese government has sought to keep the value of its national currency above 7 CNY to the dollar, last month the yuan was allowed to slide below that level, dropping to its lowest for 10 years. The move was reportedly in response to U.S. President Donald Trumps threats in early August to impose a 10 percent tariff on Chinese imports.

That the drop in yuan value is causing a flight by Chinese investors is backed up by exchange data. Bloomberg spoke to Dr. Garrick Hileman, research director at Blockchain and CoinDesk contributor, who said that bitcoin prices on exchanges such as Huobi that cater more to Chinese traders are trading at a premium.

https://www.coindesk.com/trumps-trade-war-may-be-driving-chinese-investors-to-bitcoin
submitted by FastSellerService to BitcoinInfo [link] [comments]

Crypto Industry is Betting Big on the Future of Stablecoins

Crypto Industry is Betting Big on the Future of Stablecoins

https://preview.redd.it/x3i0kbnavuk21.jpg?width=1000&format=pjpg&auto=webp&s=24e5620b93f0895f510c60b25533b14e754754ce
When merchants started introducing bitcoin and similar digital currencies as one of their payment methods, they quickly encountered a significant problem: price volatility.
There were instances like a luxury item dealership, which used to accept bitcoins for their products but saw the value their Ferrari cars jump by almost 33% during a test run. The company, dubbed as The White Company, later joined the popular trend of launching a “stablecoin,” a hybrid of blockchain and fiat money, which promised to protect its balance sheets from subtle influences.

WHAT IS STABLECOIN?

Rather than fluctuating on the whims of traders’ speculation, a stablecoin is a new blockchain-enabled breed that is characteristically pegged to stable real-world assets, from commodities to currencies. For instance, users can purchase one stablecoin for a dollar, and can also redeem it later for the same price, thus eliminating the notorious crypto price swings.
The stablecoin industry became popular in the wake of 2018’s crypto crash. The depression saw the market’s leading cryptocurrencies like Bitcoin and Ethereum losing 80-90% of their capitalization within a year. A majority of retail investors, who were holding these volatile crypto assets, decided to exchange them for stablecoins as a part of their risk management strategy. Once the volatility settled, traders were redeeming their stablecoins for digital currencies, as well as fiat currencies to exit the crypto market on minimized losses.

INBOUND INVESTMENTS

Stablecoins are not exciting as speculative assets, mainly because their backers supply only the portion that they can back against a stable real-world asset. They are highly attractive tools when it comes to retaining the qualities of blockchain-enabled payment networks for, say, remittance and hedging.
The institutional players have begun to realize the potential of stablecoins. As of November, the total investments made into the stablecoin space has touched $3 billion, per Stable Report, a crypto research group. It has led to the introduction of more than 120 stablecoin projects this year.
Winklevoss Twins, for instance, launched a stablecoin for their Gemini bitcoin exchange in September. Circle, a Goldman Sachs-backed crypto group, also partnered with a US bitcoin exchange Coinbase to launch a USD Coin.

DUE DILIGENCE

Almost every new player in the stablecoin market is coming with their audit reports in hand, a record that verifies that the company that intends to issue its stablecoins has sufficient assets to back them. Some coin projects have even introduced features that allow them to freeze or delete coins to tackle money laundering acts.
Popular stablecoin project Tether, meanwhile, has garnered criticism for refusing to get its balance-sheets audited by an independent party. It has enabled a whole new competition to flourish in response, which includes more modern stablecoin projects like TrueUSD, Paxos, and Maker, in addition to Gemini Dollar and USD Coin (as discussed above).
As the regulatory watch improves and companies begin to take due diligence seriously, 2019 could prove to the year of stablecoins. Advocates believe that in the long term, almost all the traditional industries would want to integrate a stablecoin solution.
“Insurance, lending . . . these are some of the categories that could start to grow into the trillions,” Garrick Hileman, head of research at Blockchain crypto wallet company, told FT.
Social media giant Facebook has already announced that it would introduce a stablecoin to power p2p payments on its WhatsApp messenger.
Featured image from Shutterstock.
https://www.ccn.com/crypto-industry-is-betting-big-on-the-future-of-stablecoins
submitted by dForceProtocol to u/dForceProtocol [link] [comments]

[dev] Scottish Bitcoin Conference 2014

So the big thing for me this week has been attending the first Scottish Bitcoin Conference. It’s been really interesting to find out what’s going on in the Bitcoin and altcoin space in general, and an excellent opportunity to meet and network. This week’s news will primarily involve my notes from the conference; note that I do not necessarily agree with all points stated (or even most), these are just the parts I thought was interesting.
First though, 1.8 is now out, and you need to upgrade in order to be on the correct fork after block 371337. Patrick & I spent several hours on Sunday doing a large-scale stress test on the testnet, and it all looks rock solid. I started up 12 relay nodes, 2 mining pools (one mining LTC and DOGE, one DOGE only) and a desktop client in addition to the existing infrastructure in place, and then pointed rented rigs at each of the mining pools in an attempt to cause a fork. Meanwhile, Patrick generated up to 100 transactions a minute (10 times the normal load on production), and ran his own mining rig. Everything worked smoothly, with no problems arising, which is extremely positive.
Back to the conference, and apologies this is going to be a bit rambly as I’m in a rush right now. There conference consisted of a full day of talks on a wide range of topics including economy, investment, regulation, services, etc.
Probably the most exciting part for most of the Dogecoin community was that I had an opportunity to talk to Wouter Vonk BitPay about altcoin adoption, and while certainly no timeline was suggested, BitPay are open to the idea and the main concern raised was that market volume needs to be enough to handle the sort of trade volume they see. A lot of BitPay’s customers opt to exchange directly through to conventional currencies rather than hold cryptocurrencies, and BitPay needs to know they can exchange the coins they receive into conventional currency. For scale, BitPay cleared €7mil in transactions in 2013, and €26mil in 2014 so far.
I’ll follow up with Wouter in the next couple of days, perhaps see if there’s scope for adoption by smaller merchants only, and offer our assistance if they want to adopt Dogecoin. The other takeaway from this was that they were really interested to know what our volume through existing payment processors is like, as well as general volume. Market research and business intelligence data gathering are therefore things we need to be looking at more (and I’ll touch on those later).
Talking of trading, volatility was discussed in a number of the talks, and I personally found it interesting that while volatility scares off western users, it reportedly attracts Chinese users. One presenter suggested that volatility drives trading and that traders are required to bring money into the market; I agree with the first statement but disagree with the second (traders provide liquidity, but tend to remove value from the market in terms of their profits, rather than adding it).
Garrick Hileman gave a talk on the economic context of Bitcoin, and here the scale of other digital currencies is also interesting as a comparison for the current market cap of Dogecoin and scope for future growth. The now defunct Beenz apparently attracted $100m in VC funding. Compare with the current market cap of Dogecoin at $10m and hopefully it’s clear just how much room there is for Dogecoin to grow. Garrick’s talk also touched on inflation, and at the current time over 70 countries have an inflation rate above 5% (the predicted peak inflation rate for Doge once the main mining period ends).
Lastly, there was a really interesting talk from Lui Smyth of Coinjar about who Bitcoin early adopters are, and I wanted to look at gathering some comparable statistics for Dogecoin. The Bitcoin users surveyed tend to have a median age of 30, 60% have never mined (up from 50% in 2013), and the majority are not libertarian (although the libertarian groups have adopted Bitcoin in a big way).
So, I’d like to gather some data on who uses Dogecoin and how you use it. I’ve put together an anonymous survey at https://www.surveymonkey.com/36QB3BX - if you could complete whichever questions are you comfortable with, it would be greatly appreciated. Results in aggregate will be stored indefinitely and used for marketing purposes. No personally identifying information is retained by the survey setter (myself).
submitted by rnicoll to dogecoin [link] [comments]

Is Bitcoin Money?

@GarrickHileman explains where Bitcoin and money differ when viewed hierarchically
https://medium.com/@JeanYoung1/mosaic-network-ceo-dr-garrick-hileman-at-chathamhouse-9b82583160b4
submitted by 4everyoung1 to BitcoinToken [link] [comments]

UK government mulls Bitcoin regulation

This is the best tl;dr I could make, original reduced by 59%. (I'm a bot)
Anti-money laundering regulations should be updated to include Bitcoin and other virtual currencies, the UK Treasury has said.
Bitcoin expert Dr Garrick Hileman, a research fellow at the University of Cambridge, said that in jurisdictions such as New York, crypto-currency is already subject to tighter regulation.
"Organised criminal groups have been early adopters of crypto-currencies to evade traditional money laundering checks and statutory regulations," said Det Supt Nick Stevens, from the Serious and Organised Crime Command.
"We also intend to update regulation to bring virtual currency exchange platforms into anti-money laundering and counter-terrorist financing regulation," he added.
"People need to be clear this is not an official currency. No central bank stands behind it, no government stands behind it," he told the BBC last week.
US twins Cameron and Tyler Winklevoss are reported to have become the world's first Bitcoin billionaires, having invested $11m in the currency in 2013.
Summary Source | FAQ | Feedback | Top keywords: crypto-currency#1 regulation#2 currency#3 Bitcoin#4 criminal#5
Post found in /worldnews, /BitcoinUK, /Bitcoin, /btc, /AutoNewspaper, /BBCauto and /BitcoinAll.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

UK Parliament mulls regulation as London Police say Drug Dealers are using Bitcoin ATMs to launder money.

This is the best tl;dr I could make, original reduced by 59%. (I'm a bot)
Anti-money laundering regulations should be updated to include Bitcoin and other virtual currencies, the UK Treasury has said.
Bitcoin expert Dr Garrick Hileman, a research fellow at the University of Cambridge, said that in jurisdictions such as New York, crypto-currency is already subject to tighter regulation.
"Organised criminal groups have been early adopters of crypto-currencies to evade traditional money laundering checks and statutory regulations," said Det Supt Nick Stevens, from the Serious and Organised Crime Command.
"We also intend to update regulation to bring virtual currency exchange platforms into anti-money laundering and counter-terrorist financing regulation," he added.
"People need to be clear this is not an official currency. No central bank stands behind it, no government stands behind it," he told the BBC last week.
US twins Cameron and Tyler Winklevoss are reported to have become the world's first Bitcoin billionaires, having invested $11m in the currency in 2013.
Summary Source | FAQ | Feedback | Top keywords: crypto-currency#1 regulation#2 currency#3 Bitcoin#4 criminal#5
Post found in /BitcoinMania, /technology and /CoinTelegraph.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

In honor of Bitcoin $1,000*, here's a list of Mt. Gox's valued customers (*Price is not reflective of the actual value of bitcoin)

I've compiled a list of Mt. Gox's "valued customers" from its twitter stream. Ask yourself if a legitimate company would have a similar stream and lack of customer support.
It's time to put Mt. Gox out to pasture. They were a phenomenal innovator, but it's now just a dangerous exchange.
Note: I'm on this list, too.
GMolenkamp, LaunchByte, 01101O10, MADinMelbourne, LondonBTCMeetUp, DuhHamza, snail365, AntoineSL, IIIPROIII, jordandegeus, DClark2014, Pirucho, harmvanderven, gtklocker, jamesjcousins, djbooth007, EnumaElish, jonnyhsy, abelevii, baihk, matsimo, RusselDalton, lifemanifesto, strip911, user16782173, vurbinaporrero, ActlHumanBeings, ch25061, PatrickAgut, AsherWolf, trader_bitcoin, fuckspacedrumma, bitcomsec, CryptoDirect, BravoCrazy, apap100, jujueyeball, sinonevero, Christopherglaw, cryptosecurity, mowheeler, yuri_koval, panatha192, hyph3nx, twobitidiot, AegisFS, elreystadesnudo, B2Benb2, mvanhorn, SiliconPM, BitcoinZilla, kaizen7, CElston, LamassuBTC, ansgarjohn, Arganaut, frizbninja, milto117, angrymofo, ZagaloZ, yugz777, BTCguess, fsbtnews, danicellero, evilthought, kazanture, RenegadeMinds, daniellauhlig, zhenghaox, speed2606, klinthoufy, anarcoin, TConspiracyChef, Sanelino, supershares, alexisvos, NoEyeSquareGuy, DHQNgo, jaysu, simonhopper, elreystadesnudo, B2Benb2, JoeCroninSHOW, Unguided, iZoo3y, cpmccurdy, RvZwiggelaar, hilldoc, doctorzaius, jasonmcbeath1, patrickakerman, LABLEVI, tcomfb, mvanhorn, SiliconPM, Trancez0r, AirBoyNoises, _CharlieHaley, nipponese, frenki07, Pimpmycoin, SpaceCashApp, biatch0r, Sturgeongroup, JamesGMorgan, BitcoinZilla, kurtvarner, NeverLoseVision, RvZwiggelaar, japes, bphillab, Kf_Lenz, salojc2006, btcdrak, bitcoinsandwich, Heidern2, SpikeeeN, rexuslexus, BorderedHessian, mechanimal82, simonhopper, walidjsanchez, nughaud, sfaigan, chen_mingming, liberaleco, tiagofaia22, Cryptowhore, Sabelo_Maduna, OpenECommunity, Peercoin_Info, BitcoinSachs, darzin, matth3wpeng, ltbitcoin, idiot, ridreis, AlanRHooper, TConspiracyChef, RedScareBot, wr, TheTommyD, nataliew2, koinsmart, Nysedaytraders, leetwitbc, _amckenna, SFBitcoinTaxi, stuwyatt, zapnap, NHLaundryKing, TiberiKo, CUSSBRO, dantoml, Coinboard, jongold, atef_drira, TVeleckovik, Supreme_Mentor, DeusExJuice, Bitcoin_Bum, _ShaSoftware, VestaTrader, BitcoinFound, Nicky_PoohBear, TiberiKo, NHLaundryKing, zapnap, JamesLiamCook, Bitcoin, awillmobbs, hlopez, Bobmuffins, TheCryptoEdge, kadrkn, Zubinezu, bitcointxt, aikordek, joerodr, BitcoinPosse, adambailey27, DanJones79, CephasSerhat, CrazyLittle, hodortargaryen, alienshooter99, TConspiracyChef, SamiGhazali, trutherbot, stuwyatt, dan72ros, arjunsethi, dennishegstad, TaoOfSatoshi, keithsaltojanes, trader_bitcoin, MattFinn2, TVarmy, killhamster, jebus911, mdp2031, VestaTrader, josealivivas, KatsuHenrikki, jerroenbakker, kingtytankhamen, TomHashemi, BullionBaron, B_Acro, BitcoinSignal, dragonfire1024, Eddie_Catflap, andrewroyer, divinejudge1, KatsuHenrikki, kingtytankhamen, atef_drira, jerroenbakker, The_BitCoiner, Truex, TomHashemi, Rkpools, krellis, _J4n37, josealivivas, JohnDaugherty86, SPC_Bitcoin, nlcondit, SFBitcoinTaxi, pushingtin, riisacoff, sidragon, WILLWONGX, ASampei, upal, chrimm, belsito, mowheeler, VestaTrader, BitChangeClub, BlueJayKay5, GeckoFawkes, coljac, conspirologorg, WelfareWTF, subimage, LtdData, cointhink, TopBitcoinSites, kazfavs, pushingit, launchticker, finansakrobat, Birmav, davewalter81, jdebunt, onefix, jameve13, Ric0tjuh, ASampei, BELADOZZAS, SumOfCoins, iZoo3y, JohnDaugherty86, ActualAdviceBTC, Protossscs, iamheff, upal, mach1monorail, ASampei, Fontasee, Sea_Devil, davidpate8, selqeni, buuddha77, 845151320lwq, M0ssein, MasterOfCoins, ianatha, macbrainpro, KeatonRaser, wdaniels, bneiluj, leetwitbc, IMGoldMine, TheRichDouche, alansuspect, TConspiracyChef, cryptfolio, leejaew, Crockoduck1, DJCrizCray, sovereignmonkey, HoodSavior, CephasSerhat, anonymous6844, dillweedrules, macbrainpro, VelocityCoin, throwinabanana, cryptonic27, prettybinladen, kadrkn, ianatha, igorclark, BitcoinTitan, Bitcoin_Altcoin, BitcoinZilla, somanhuang, Harry_Dillema, BitcoinMayhem, Coincamp, ASampei, Frank_Craft, D3Markets, dogecoinpark, FoxyVo, BeerlyWeedz, youflavio, inVIINCEable, JackCrypto, trakout, FlavienCharlon, somanhuang, LakesAdam, myselfbtc, prathswoop, jamel_rwb, jsblokland, somanhuang, cryptoron, simonhopper, Eleonorwjmg, trakout, keremkacel, D_Roch, KBurkowicz, bitcoinrocks, samueloakford, TheLawrenceDude, DaveHaroldson90, FlavienCharlon, jimmyhomma, GjertGjersund, martijngonlag, LakesAdam, KingCyberJacob, bitcomsec, flix1, GarrickHileman, bitcoinpotato, DCG_Crew, fotoroll, DesperateTrader, mrebola, irwm1, rdawood007, KratosMtOlympus, JustusRanvier, CryptoConner, alejanfm, mulligan, litovskaya, JffrLabel, TConspiracyChef, yeahfro, elreystadesnudo, OLAnewscast, iheartubuntu, cryptocnews, fak3r, wombleswyrd, Jason, ZacCoffman, heri, wdaniels, adv4nced, ws, dragonfire1024, strongnuclear, BitcoinZen, ericcogen, NeverLoseVision, Qwahchees, icrewuh60, ketchupandbeer, dorongrinstein, bitinturst1, Datavetaren, OpenECommunity, trutherbot, wowaname, kinoti, altcoinpumper, MikevHoenselaar, EddieDrysdale, VinceintheBay, jebus911, LaurentSartran, JohnRMeese, bratt, leewalton69, JustCosm, isellbitcoins, JeffWalker82, TKutrada, sethgoldin, pietrosperoni, CryptoCartel, jrtaff, FrentzelJ, AboutBIT, Cryptonauta, BlankSteve, BitcoinSignal, BitMillionaire, markhankins1982, BitVestors, Chaits, stephenlb, triplepundit, RuneBloodstone, onbitcoin, newsBTCdotcom, BitcoinKitty, cryptoeconomist, BitcoinSitesOrg, RenaudDenis, matthewmascioni, guitarlife2012, ezra802, jimmyhomma, PennyGaff, Zubinezu, Stevie2747, Tiraspol, Ripplesync, BitcoinSignal, KrakenTrader, daitken4, ycopfiles, aprilthemoo, cirobrandao, TheBTCG, JackCrypto, spyn, KristinPaget, kponseel, rdawood007, symantec, KristinPaget, dan72ros, cryptocoinmedia, fightcopytrolls, packmatt73, GabrielVisser, zhongfu, Rentadesker, kponseel, lammatha218, vadipp, MagnoxZhan, neo1607, OvRonda, feufy78, spyn, PennyGaff, dkoletic, TheBTCG, Bitcoin_Watcher, ZLOK, selqeni, KristinPaget, ortelius, rlhead3890, NickFrey, wandgrab, TomBandetta, KristinPaget, jsblokland, torbahax, Liberationtech, raulriera, Curious_Heather, MendzappJames, JffrLabel, kornstar11, RealmDweller1, LatestBTC, AmelDedic1987, PaulCapestany, btcdotcom, atswartz, Asher_Wolf, coinsultants, MrOf4343, BitcoinGain, BitcoinCEX, skelly_boy, fmisle, wendydiaz73, RNR_0, Puunk, feufy78, cryptopense, ActualAdviceBTC, h4rd3z, Cellcote, JBintcliffe, DuhHamza, SatoshiNakam, Johnny5Eu, Abbott, sea, farhannow, julianor, OTBCNews, gerryhays, altcap, InterdasGlobal, zachtratar, RBenadon, dylanized, myproviderbv, dkasper, sergiocovelli, ePubMATIC, calmcdn, TheBitcoinWife, nicr9, TConspiracyChef, BuyQuark, hehersontan, luketpembroke, torontofixit, grimnar1, PharmaTradr, kponseel, doltek, jimmyhomma,TCVisionary, DRoch, 1HandsomeHustla, TheLawrenceDude, OWSBuenosAires, pessimism, George_Hahn, darylmander, igorclark, StephyFinance, miguelsantosw, Coinboard, FrankoCurrency, btccharity, anjiecast, L2GStar, kwamgee, litecoindude, DragonPitch, DGSchesser, MichealKennedy, malin_mar, cryptofolio, AllenEstrin, GnomishMath, SPC_Bitcoin, metamatterNL, moultontyler, FIAT_Poop_Shoot, vineetsonkar, SimranDevs, capaday79, justinfondriest, growlhero, FontasBTC, NINK, RL_Betatester, microcable, LitecoinToday, gregorymunten, sndrptrs, FaireGlobalLLC, SharkWipf, DanishPuss, Azyouknow, irijiri, PeterOdeus, daitken4, Orbixx, lammatha218, Cee_Bgm, kingfaraone, Beccas43, D15RUPT, MelissaLeeCNBC, flibbr, PerryJLucas, LitecoinBoy, pizzaindex, JimmyBarge, El_Mono1958, BrianKellyBK, thesurfer68, cryptohamster, AndyBarrick, deuceocho28, joar79, yuri_koval, therealhaxwell, BTCGeek, xiffy, PhilBoscarino, AaronvanW, ml_gardner, Cryptocoinbiz, ThinkBig, AlvaroBurgos23, bearpig, SteveClement, AndrewDeichler, KavaKauboi, eforcems, jaimefdezcaro, FeliciaQiKim, 212onise, hoxy313, fdefoy, FunkyJamma, lopp, BitcoinDayTrade, btcdrak, zaamhain, ManFmNantucket, markgongloff, NekotTheBrave, wtrnl, AlaricSystems, irwm1, solwatts, ranhatty, FaireGlobalLLC, DeMoralizer25, BuyQuark, waveride2, ranhatty, BitcoinHotMom, frank600, filmanthropos, jvanek1, bbtm64, levifig, irwm1, cstaketoki, aaguileravega, RuanBeukes, Emeka89, Uzocho, eekygeeky, MichealKennedy, BitcoinSachs, solwatts, zovanei, adambreckler, Cryptominer1, NickBeardShow, reverendcaptain, lammatha218, PlayBaseGames, Dear Valued Customer, NabiIaHolicisMe, israeldavidoliv, timstoop, blacksun1, BitMate, BTCESpec, FaireGlobalLLC, thesurfer68, holidaynova, rowiro, mrebola, FdhJose, htjyang, JonnyPhun, thegonan, RippleLounge, XRPTalk, heromanjay, evanzenker, fmisle, markmcan, tristan_winters, frenki07, DomjEspo, b_rossi, LTCInformation, Coinflipkens, CoinMarketCap, JoakimHaage, NWBitcoin, pizzaindex, FaireGlobalLLC, aaronyarm, thesurfer68, Grundoko, NekoArc, JudeBurger, airmatic20, ruan1219, evula, ordnanceelf, levifig, WhipeeDip, wowaname, Koudemort, NewsBitcoin, _OpeniX, Adult, khaaanah, TheRealSajad, tensafefrogs, Willyum727, reicher001, TravisPatron, iarvin, TweetsFromRichy, MrBBrown, KryptoKoolio, SithIlluminati, ahonentj, arrewinki, seangraf, trish_regan, DavidEGrayson, AcclaimDan, SteveStreza, SamForty, WebEspy, corbetter, BitcoinLessons, pagobit, SteveElsewhere, yugz777, Adam_CE, NickBeardShow, ranhatty, ChrisRobinsonYo, SavneetS, notopk, Jason_Rowley, brucecat, chinaboysu, BitcoinLinksNet, BitcoinContract, CPython314, Turkoglu53, ristonojonen, matticane, TVeleckovik, gatorshoosiers, CeoCHN, lickthepig, khurramc, apap100, TheAtomSea, EntropyExtropy, iWeyer, JerseyITGuy, jzipdamonsta, lopp, vidicbojan, btcglea, EnumaElish, NinjaCubed, JackCrypto, CryptoPumpNDump, DCMJ2014, AndrewDEvans, StickerTraders, jgarzik, JosephLandesman, BitcoinAltcoin, Sturgeongroup, Spooky_Nick, nixberger, Kphelpz, kryptokash, QuickBT, SolaceNow, therealhaxwell, owocki, jamesarosen, RajivVarma, cajici, al676, CrystalBall6, Liberationtech, ws, computerxpds, raahil190, MisterSinakoteh, Redcoatwright, NicoDAgris, 18_0152_u, mikeyavo, SamAsante, coinalytics, AMLG23, KristeeKelley, OFC_videos, PromptLondon, rekkd, JackCrypto, CodeForBitcoins, T3rr0rByte13, dasnut1, TConspiracyChef, OTBCNews, SteelValleySpec, Bitcoinity, bitcoinpotato, Jipe, El_Mono1958, Bit_Prof, T3rr0rByte13, JohnRMeese, mattdrayer, Johnny_0o, rraposo, BryceWeiner, RCasatta, RBenadon, KcChano, FreeDumb_News, OFC_videos, TroyLumpkin, davidgilmer, PokerCapitalist, Btcboogie, niksthehacker, _OpeniX, BryceWeiner, guiabitcoin, MarcdeVerdelhan, newsBTCdotcom, iheartubuntu, macaskill Bitcoinkenner, PharmaTradr, funkyoubitch, FinanceTed, Hugues_Maynie, DunningKruger, BitcoinDayTrade, tucaminoingles, Chronic_Inc, Hoefgeest, BryceWeiner, Bitcoinkenner, mmeijeri, brucecat, kenhorn, chee1bot, BitstampSupport, Colin4ward, willsta4me, Stalast, sh4t, Ernestinetnsf, khaaanah, Awzum_JC, DeRuilcentrale, KavaKauboi, GreenPirate_org, MisterSinakoteh, BitcoinDayTrade, PharmaTradr, FlyingRich, goqobuo, TheGARVdotcom, Reddoxxx, btcdefender, BobsBitcoins, BitcoinKinetics, Spooky_Nick, CaptnThundrCunt, 7alazouun, josephzamudio2, postkneejerk, TheBigEasyofOz, TheBigEasyofOz, davidjtwit, sharpcode, _dvgc, Jetjumper, peterverhaar, rmurph17, atghiphop, Cryptanalytics, Cryptanalytics, djtBMX, BrianHousman, AustenAllred, m52go, BTConsulter, SirBitsALot, PokerCapitalist
submitted by twobitidiot to Bitcoin [link] [comments]

How one big bang sent China to the fringes of the bitcoin universe

Then the Chinese government announced in early September that it was banning ICOs, a crowdfunding approach widely used by cryptocurrency and blockchain start-ups. It also said trading in bitcoin would cease on exchanges in China by the end of this month to limit risks to investors. Transactions evaporated and prices plunged, eroding China’s share of the global bitcoin marketplace. While players in China continue to fear for the future of cryptocurrencies in the country, investors elsewhere have shrugged off Beijing’s ban and sent bitcoin prices back to the highs of early September just before the clampdown – underscoring China’s waning influence in the area. “For now, China as a market for crypto-tokens is out of the picture,” Thomas Glucksmann, from Hong Kong-based exchange Gatecoin, said. Chinese investors fume over Beijing’s bitcoin crackdown
Some Chinese exchanges said they were considering setting up shop overseas but Glucksmann said foreign ICOs and exchanges would find it difficult to solicit interest from the mainland. “[That’s] because China is blocking access to websites of foreign exchanges. And foreign ICO founders want to avoid any backlash from regulators in China especially if the environment in China becomes more welcoming in the future,” he said. While the authorities have put a ban on trading, Chinese individuals are still free to own or “mine” cryptocurrencies. According to data from virtual currency software platform Blockchain.info, China accounts for about 70 per cent of the world’s bitcoin mining power – computer server farms that tap into cheap electricity to solve the complex mathematical problems that underpin bitcoin. Garrick Hileman, a research fellow from the Cambridge Centre for Alternative Finance in Britain, said the authorities were careful not to kill off mining, the “goose that lays the golden egg”. “Mining is the key infrastructure asset in China, not the exchanges, not the liquidity,” Hileman said. “This is quite significant and it may speak to the future trajectory of Chinese regulation.” China’s bitcoin miners in limbo after Beijing shuts down exchanges
In the meantime, some Chinese “miners” could be forced into bankruptcy as they struggle to cash out their virtual coins into yuan to pay their bills. Without exchanges, miners could be forced to turn to shadowy swaps over social messaging apps or other marketplaces. “The result would be a more geographically distributed mining industry where the hashing [or processing] power is not concentrated among a handful of firms in China,” Glucksmann said. However, the jury is still out on the broader future of cryptocurrencies. This week, Kenneth Rogoff, former chief economist at the International Monetary Fund, dismissed the bitcoin rally as a bubble and forecast it to crash. Then last week, IMF managing director Christine Lagarde said it would be unwise to dismiss virtual currencies, and encouraged central bankers to being open to “fresh ideas and new demands as economies evolve”. Hileman said there is equal opposing forces at play in the debate. “A lot of people are taking some comfort in some of these developments and shrugging off the negative ones. Possibly the correct interpretation is the positive news has outweighed the negative so far,” he said.
submitted by vicky_hi to bitcointrend [link] [comments]

Economia (March 2014) realistic opinion article

Hey guys, I read this article just this morning in Economia.
Here's a link to the 'e-magazine':
http://viewer.zmags.com/publication/adff9b38#/adff9b38/32
EXTRACT:
'Bitcoin is the secret to a safer, more efficient financial system' Garrick Hileman
The internet currency Bitcoin is surrounded by uncertainty. Is it a speculative bubble? Is it as anonymous as is claimed? Can it be used to purchase the legendary White Widow marijuana or hire a hit man? But these questions divert attention from far more important discussions about Bitcoin's potential to drive financial innovation.
Bitcoin has transcended partisan ideologies. Nobel laureate economist Paul Krugman and US Tea Party icon Ron Paul are diametrically opposed on virtually every issue but Bitcoin (both dislike it). Yet Bitcoin's opponenets should ask how the groundbreaking ideas that underlie it could be applied to reforming the global financial system. Although the 2008 financial crisis exposed profound institutional shortcomings, subsequent regulatory safeguards, like the 2010 Dodd-Frank Act in the US and the Basel III, have failed to bring about transformation. Likewise, protest movements such as Occupy Wall Street, aimed ultimately at reforming the culture of finance, have delivered mixed results.
The fact is no one, except a small coterie of financial insiders who have benefited from taxpayer-financed bailouts, should be satisfied with the current system, not least because another crisis, accompanied by more bailouts, can be expected in the near future.
While the exact timing of the next meltdown is unknown, one thing is certain: consideration of what kind of financial system we need would be incomplete without Bitcoin. The technology behind it could not only help to reduce risk by creating safeguards shielding the payments system from unpredictable financial activities; it could also bolster growth.
Financial institutions act as matchmakers, linking investors, borrowers and savers, and recording what people own and owe. In exchange for these services they are generously compensated. So, to ask whether bankers' pay is fair is really to ask how much value is created by financial matchmaking - and there is no simple answer. By allowing a greater proportion of an economy's wealth to be channeled toward investment and other productive economic activities, a more efficient financial services industry boosts growth. Given the high costs of financial systems that are antiquated, costly and inefficient, the smaller the financial system, the better off everyone else will be.
Profit seeking is also a factor in the inefficiency of the world's financial system. While British authorities recently announced the transfer of physical cheques would be abolished, a two-day cheque-clearing delay will remain. As scanned images of cheques could be processed electronically almost instantaneously, the delay can be explained only by "float" - the interest earned by holding onto money for as long as possible.
Float is one of the ways the financial services industry extracts resources from the economy. The 3-5% charge levied by credit card companies adds up to several hundred billion dollars in profits. Fees for wire transfers and currency exchange can climb to 10% per transaction. The innovations pioneered by Bitcoin eliminate the fees, delays and inefficiencies lining the pockets of the financial services industry. Ahead of US Senate hearings last November, former Federal Reserve Chairman Ben Bernanke wrote to senators saying Bitcoin may "hold long-term promise, particularly if the innovations promote a faster, more secure, and more efficient payment system".
Bitcoin, with its capacity for anonymity, could make the global financial system more secure. At the same time it offers an alternative tore of value, and its use as a medium of exchange is steadily growing. But perhaps the most exciting innovation offered by Bitcoin is the "Blockchain" - peer-to-peer software that keeps a record of all transactions and a tally of who owns what. The Blockchain serves the "ledger" function of banks, but at a fraction of the cost.
Bitcoin marks a return to a community-based approach to money and banking, with financial services more closely connected to the people. Large, monolitic third-party managers, like "too big to fail" banks", would be cut out. With software like the Blockchain powering a new financial architecture, "the people" would effectively become the bank.
Bitcoin and its ecosystem are maturing, and only time will tell if its current price is a speculative bubble. But the innovations pioneered by Bitcoin could play a transformative role in building a safer, less expensive and more effective financial system.
I think it's well written and takes a realistic view on the potential of both Bitcoin and the technology that it uses. While it does only talk about Bitcoin for a short amount of time, it highlights the issues with the current financial system and what Bitcoin could do to remedy some of its vices.
submitted by comfortman to Bitcoin [link] [comments]

[dev] Scottish Bitcoin Conference 2014

So the big thing for me this week has been attending the first Scottish Bitcoin Conference. It’s been really interesting to find out what’s going on in the Bitcoin and altcoin space in general, and an excellent opportunity to meet and network. This week’s news will primarily involve my notes from the conference; note that I do not necessarily agree with all points stated (or even most), these are just the parts I thought was interesting.
First though, 1.8 is now out, and you need to upgrade in order to be on the correct fork after block 371337. Patrick & I spent several hours on Sunday doing a large-scale stress test on the testnet, and it all looks rock solid. I started up 12 relay nodes, 2 mining pools (one mining LTC and DOGE, one DOGE only) and a desktop client in addition to the existing infrastructure in place, and then pointed rented rigs at each of the mining pools in an attempt to cause a fork. Meanwhile, Patrick generated up to 100 transactions a minute (10 times the normal load on production), and ran his own mining rig. Everything worked smoothly, with no problems arising, which is extremely positive.
Back to the conference, and apologies this is going to be a bit rambly as I’m in a rush right now. There conference consisted of a full day of talks on a wide range of topics including economy, investment, regulation, services, etc.
Probably the most exciting part for most of the Dogecoin community was that I had an opportunity to talk to Wouter Vonk BitPay about altcoin adoption, and while certainly no timeline was suggested, BitPay are open to the idea and the main concern raised was that market volume needs to be enough to handle the sort of trade volume they see. A lot of BitPay’s customers opt to exchange directly through to conventional currencies rather than hold cryptocurrencies, and BitPay needs to know they can exchange the coins they receive into conventional currency. For scale, BitPay cleared €7mil in transactions in 2013, and €26mil in 2014 so far.
I’ll follow up with Wouter in the next couple of days, perhaps see if there’s scope for adoption by smaller merchants only, and offer our assistance if they want to adopt Dogecoin. The other takeaway from this was that they were really interested to know what our volume through existing payment processors is like, as well as general volume. Market research and business intelligence data gathering are therefore things we need to be looking at more (and I’ll touch on those later).
Talking of trading, volatility was discussed in a number of the talks, and I personally found it interesting that while volatility scares off western users, it reportedly attracts Chinese users. One presenter suggested that volatility drives trading and that traders are required to bring money into the market; I agree with the first statement but disagree with the second (traders provide liquidity, but tend to remove value from the market in terms of their profits, rather than adding it).
Garrick Hileman gave a talk on the economic context of Bitcoin, and here the scale of other digital currencies is also interesting as a comparison for the current market cap of Dogecoin and scope for future growth. The now defunct Beenz apparently attracted $100m in VC funding. Compare with the current market cap of Dogecoin at $10m and hopefully it’s clear just how much room there is for Dogecoin to grow. Garrick’s talk also touched on inflation, and at the current time over 70 countries have an inflation rate above 5% (the predicted peak inflation rate for Doge once the main mining period ends).
Lastly, there was a really interesting talk from Lui Smyth of Coinjar about who Bitcoin early adopters are, and I wanted to look at gathering some comparable statistics for Dogecoin. The Bitcoin users surveyed tend to have a median age of 30, 60% have never mined (up from 50% in 2013), and the majority are not libertarian (although the libertarian groups have adopted Bitcoin in a big way).
So, I’d like to gather some data on who uses Dogecoin and how you use it. I’ve put together an anonymous survey at https://www.surveymonkey.com/36QB3BX - if you could complete whichever questions are you comfortable with, it would be greatly appreciated. Results in aggregate will be stored indefinitely and used for marketing purposes. No personally identifying information is retained by the survey setter (myself).
submitted by rnicoll to dogecoindev [link] [comments]

Interviews #Empodera2019: Garrick Hileman, Head of Research at Blockchain.com The Blockchain Academy Interview - Garrick Hileman EB61 – Garrick Hileman: CoinDesk's State of Bitcoin 2015, Ecosystem Grows Despite Price Decline Interview w/ Dr. Garrick Hileman on Gold and Bitcoin ...

According to Garrick Hileman, Bitcoin’s next bull run could be triggered by central banks storing digital gold. Banks Could Help Bitcoin Recover Its Price During a conversation at AltFi Podcast, Hileman, the head of research at Blockchain.com and research associate with the LSE, explained that banks stockpiling Bitcoin could end up in a price increase for Bitcoin . Bitcoin News With the Ban Gone, India Is Likely to Enhance Its Crypto Presence. It was reported recently that India had removed the crypto ban it initially instilled in the year 2018. Economist Garrick Hileman from the University of Cambridge says that data now shows that central banks are active in their interest in blockchain technology and many are trialing it for a variety of different cases, including new central bank digital currency, new payment systems and records management. He argues: “If you’re a central bank providing critical infrastructure – payment ... Garrick Hileman Bio; Research; Teaching; Policy and Academic Conferences; Speaking; Media; Consulting; Contact ; Thursday, September 27, 2018. State of Stablecoins report released. Update: the 2019 State of Stablecoins report, which at 140-pages significantly expands on the earlier-2018 report described below, has now been released. Download the full report and slides and read th e summary ... Garrick Hileman is the head of research at Blockchain.com, the leading provider of cryptocurrency solutions and creator of the world’s most popular crypto Wallet and the Blockchain.com Exchange. You can read more of his analysis and research on Twitter @GarrickHileman and @Blockchain.

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Interviews #Empodera2019: Garrick Hileman, Head of Research at Blockchain.com

Dr Garrick Hileman is one of the world’s most-cited cryptocurrency and blockchain technology researchers. He developed and taught the first UK class on blockchain technology at the University of ... Dünya'nın En Güvenli Borsasından Altın Tokenı Al: http://bit.ly/dgldSATINAL Sağ alttaki CC butonundan Türkçe Altyazıları açmayı unutmayın! Garrick Hocam ... Interview with Garrick Hileman (University of Cambridge and London School of Economics, LSE) about Bitcoin & Blockchain after the event entitled "Blockchain Disruption Summit" held at Palazzo ... We were very fortunate to be joined by the man who compiles the State of Bitcoin Report, Garrick Hileman. As an economic historian at the London School of Economics and a frequent contributor to ... A wide-ranging overview of the state of the digital currency economy and blockchain technology from CoinDesk's lead analyst and economic historian at the London School of Economics, Garrick. A ...

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