Bounty And ICO: Bitcoin-News

Multi-Billion Dollar Hedge Funds are Discovering Bitcoin and are Very Optimistic

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Multi-Billion Dollar Hedge Funds are Discovering Bitcoin and are Very Optimistic</div>
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A rapidly growing number of <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">multi-billion dollar hedge funds</span> are beginning to discover bitcoin and the cryptocurrency market.</div>
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Earlier this week, <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Patrick O'Shaughnessy,</span> the <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">manager of $6 billion quant asset management firm O'Shaughnessy Asset Management,</span> revealed in an interview with Business Insider that he was recently introduced to bitcoin and cryptocurrencies by <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Matthew Goetz, a former vice president at Goldman Sachs.</span></div>
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Goetz shared his plans to operate <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">BlockTower Capital,</span> a hedge fund <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">focused on the cryptocurrency market, with Ari Paul, the former portfolio manager for the University of Chicago</span> endowment, and attempted to explain the advantages of <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">bitcoin as a decentralized and peer-to-peer financial network.</span></div>
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Upon first encountering bitcoin and the cryptocurrency market, <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">O’Shaughnessy</span> admitted <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">he had no fundamental understanding of the structure of cryptocurrencies and their technical intricacies.</span> He said in an <a href="http://www.businessinsider.in/A-manager-at-a-6-billion-quant-fund-gives-the-best-intro-to-cryptocurrencies-weve-heard/articleshow/60874936.cms" style="border: 0px; box-sizing: border-box; color: #fa890f; cursor: pointer; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration-line: none; transition: all 0.3s ease 0.1s;" target="_blank">interview:</a></div>
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"He told me he bought a bunch of cryptocurrencies: ether, bitcoin, and litecoin. And I was like, 'What the hell is a cryptocurrency?'"</div>
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Since then, O’Shaughnessy has studied bitcoin and the cryptocurrency market. In a meeting, Paul shared his experience in the cryptocurrency market as a trader and an investor. As the conversation went by, <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">O’Shaughnessy continued to become astounded by cryptocurrencies and decentralized financial platforms they offer as an alternative to the global banking system.</span></div>
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To assist <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">newcomers in the cryptocurrency sector including O’Shaughnessy, Paul, Goetz,</span> and the rest of BlockTower Capital team alongside Naval Ravikant, the CEO of AngelList, Peter Jubber of Fidelity, and Olaf Carlson-Wee, the first employee of Coinbase, produced an audio documentary on the rise of cryptocurrencies and blockchain technology entitled <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">“Hash Power.”</span></div>
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According to a new study conducted by <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">LendEDU,</span> the majority of people in regions like the <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">US that have well-established cryptocurrency exchange markets and industries have heard of bitcoin.</span> The LendEDU research revealed that <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">78.6 percent of Americans</span> have already heard of bitcoin and cryptocurrencies.</div>
<div style="border: 0px; box-sizing: border-box; color: #353535; font-family: Lato, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-numeric: inherit; letter-spacing: 0.52px; line-height: inherit; margin-bottom: 20px; outline: 0px; padding: 0px;">
<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">The mainstream adoption of bitcoin is growing at a steady rate.</span> Although its <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">market cap is still at $68 billion, it is attracting the interests of large-scale investors, traders, and most importantly, institutional investors such as multi-billion dollar hedge funds.</span> Regulated exchanges in matured markets such as the US, Japan, and South Korea are increasingly focused on providing trading platforms that can address the liquidity issue and demand from institutional investors. Gemini, a US exchange, already partnered with Chicago Board Options Exchange, the largest options exchange in the US, to serve institutional and retail traders.</div>
<div style="border: 0px; box-sizing: border-box; color: #353535; font-family: Lato, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-numeric: inherit; letter-spacing: 0.52px; line-height: inherit; margin-bottom: 20px; outline: 0px; padding: 0px;">
<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Tyler Winklevoss, the Chief Executive Officer of Gemini,</span> <a href="http://www.businessinsider.in/A-manager-at-a-6-billion-quant-fund-gives-the-best-intro-to-cryptocurrencies-weve-heard/articleshow/60874936.cms" style="border: 0px; box-sizing: border-box; color: #fa890f; cursor: pointer; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration-line: none; transition: all 0.3s ease 0.1s;" target="_blank">explained:</a></div>
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"Gemini's key concerns in the cryptocurrency ecosystem have always been security, compliance, and regulatory oversight. By working with the team at CBOE, we are helping to make bitcoin and other cryptocurrencies increasingly accessible to both retail and institutional investors."</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 900; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Author : </span>Joseph Young</div>
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Joseph Young is a finance and tech journalist based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering exclusive content, interviews, insights and analysis of cryptocurrencies, innovative and futuristic technologies.</div>
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Multi-Billion Dollar Hedge Funds are Discovering Bitcoin and are Very Optimistic

Multi-Billion Dollar Hedge Funds are Discovering Bitcoin and are Very Optimistic A rapidly growing number of multi-billion dollar h...

ICO: organization, investments and law - ICO event Moscow on September 20

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ICO: organization, investments and law - ICO event Moscow on September 20</div>
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<div style="border: 0px; box-sizing: border-box; color: #353535; font-family: Lato, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-numeric: inherit; letter-spacing: 0.52px; line-height: inherit; margin-bottom: 20px; outline: 0px; padding: 0px;">
<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">On September 20,</span> the <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Russian capital will host ICO event Moscow,</span> where expert community will share experience in ICO conducting and investing.</div>
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ICO event Moscow is a <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">spin-off</span> of Blockchain & Bitcoin Conference, <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">the largest network of events in the CIS dedicated to blockchain and cryptocurrencies.</span> Organizer of the event, the international company <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Smile-Expo,</span> chose the capital of Russia as the venue for the new event, since a special interdepartmental group has been established in the country, discussing amendments allowing ICO to the civil code.</div>
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As part of its activities, experts are working on the legal regulation of crowdfunding and ICO contracts, discussing effective methods for <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">verification of investors,</span> and developing <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">rules for the purchase of tokens</span> for <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">fiat and cryptocurrency.</span></div>
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The conference will feature experts in the field of ICO holding and preparation, as well as experts in investing in cryptocurrency tokens. <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">The speakers are leading Russian consultants on ICO issues, business angels, investors, managers of various companies and marketing experts.</span></div>
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Within the reports, <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">experts will talk about the legal peculiarities of ICO,</span> explain how to distinguish a successful project from a failed one, reveal the nuances of investing in tokens, analyze specific cases of crowdsales and ICO market, as well as give forecasts for the sector development. Guests will be able to communicate with speakers and ask them questions.</div>
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More information about the event is available on the <a href="https://icoevent.ru/en?utm_source=PR_Besedin&utm_medium=anons&utm_campaign=bitconnect" style="border: 0px; box-sizing: border-box; color: #fa890f; cursor: pointer; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration-line: none; transition: all 0.3s ease 0.1s;" target="_blank">ICO event Moscow website.</a></div>
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ICO: organization, investments and law - ICO event Moscow on September 20

ICO: organization, investments and law - ICO event Moscow on September 20 On September 20, the Russian capital will host ICO event...

The Two Sides Of The Bitcoin Debate Are Saying The Same Thing

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The Two Sides Of The Bitcoin Debate Are Saying The Same Thing</div>
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The debate as to how bitcoin is going to navigate the path to mainstream acceptance and widespread use is not quite as foggy as it once was but – if the last few weeks have told us anything – then the fog may be lifting but there are still plenty of twists and turns ahead. <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">The situation in China is far from abating and is likely to continue to worsen near term.</span></div>
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According to recent reports, <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">the Chinese government is now taking steps to stop Chinese bitcoin </span>executives from leaving the country (exactly why remains to be seen – there's a good chance it's something to do with policymakers' expectations that it's the execs that have the largest holdings) and reports suggesting that we'll likely see some sort of mining ban remain in place.</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Jamie Dimon</span> compounded the action with his statement on bitcoin's fraudulent status.</div>
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Today, CNBC has <a href="https://www.cnbc.com/2017/09/20/us-bank-ceos-are-likely-very-afraid-of-bitcoin-says-wealth-advisor.html" style="border: 0px; box-sizing: border-box; color: #fa890f; cursor: pointer; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration-line: none; transition: all 0.3s ease 0.1s;" target="_blank">reported</a> on the comments of <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Rainer Michael Preiss,</span> executive director at Taurus Wealth Advisors.</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">His opinion on the matter-</span></div>
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“Anyone that runs a very large bank will right now be very understandably afraid of bitcoin and the blockchain.”</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">His reasons for it:</span></div>
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"The concerns are about the fractional reserve banking system, and the balance sheet of the Federal Reserve at $4.5 trillion, where the Fed officially refuses an audit," he said. "On the other hand, on the bitcoin blockchain, you have an audit everyday because it's open-sourced."</div>
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So he has rooted his argument in the transparency that bitcoin allows and the inconvenience of this transparency for a large entity like the fed. That sort of falls completely in contrast to the banks' argument for a ban – <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">that bitcoin doesn’t offer the transparency and auditability to ensure avoidance of fraud.</span></div>
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So that's two sides of the equation, former saying that the other is afraid of transparency issues and the later saying that it's concerned about transparency issues and what that might mean for the general public.</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 900 !important; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Author : </span>Jack Dean</div>
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Jack has worked in the cryptocurrency industry for 5 years now as a reporter. His experience is predominately in banking, while he also has a keen interest in the forex world. His daily output is read by thousands of readers globally.</div>
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The Two Sides Of The Bitcoin Debate Are Saying The Same Thing

The Two Sides Of The Bitcoin Debate Are Saying The Same Thing The debate as to how bitcoin is going to navigate the path to mainstre...

Russia is Trying to Build a Major Bitcoin Mining Industry to Compete With China

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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhFVA1cKTqEF0VUVIxoosdZXrFs-HJ2r3isrxGfBmZjy8NPvgTBBvF5KI9Ol3TDlSdM2g9ITu8VOrLQOqrMX9Vl34pSsd9y7Dz-rHXvJh6dEGTeYK0q6vwxi4-fg3KJ25Wh8_5TPMyxUHQ/s1600/1505997147_9193380393_4F361bzN2y.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="370" data-original-width="600" height="394" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhFVA1cKTqEF0VUVIxoosdZXrFs-HJ2r3isrxGfBmZjy8NPvgTBBvF5KI9Ol3TDlSdM2g9ITu8VOrLQOqrMX9Vl34pSsd9y7Dz-rHXvJh6dEGTeYK0q6vwxi4-fg3KJ25Wh8_5TPMyxUHQ/s640/1505997147_9193380393_4F361bzN2y.jpg" width="640" /></a></div>
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Russia is Trying to Build a Major Bitcoin Mining Industry to Compete With China</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Alexander Drozdenko,</span> the governor of the Russian Leningrad region, has <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">encouraged bitcoin miners to create, develop and deploy</span> mining centers in Leningrad at the third annual Energy of Opportunities conference.</div>
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Local news publications including <a href="https://news.bitcoin.com/russian-governor-cryptocurrency-miners-mining-farms-leningrad/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications" style="border: 0px; box-sizing: border-box; color: #fa890f; cursor: pointer; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration-line: none; transition: all 0.3s ease 0.1s;" target="_blank">47News reported:</a></div>
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“Production sites that are being released during the construction of new power units of the Leningrad nuclear power plant will be available for new residents as early as 2018.”</div>
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Earlier this year, several trusted sources including <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Bloomberg</span> revealed that <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Russian President Vladimir Putin’s Internet advisor has been planning to launch an initial coin offering (ICO) campaign for a project called Russian Miner Coin (RMC)</span> with a long-term vision of competing with the Chinese bitcoin mining industry and large-scale bitcoin mining equipment manufacturers such as Bitmain.</div>
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At a news conference, <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Putin’s aide Dmitry Marinichev announced</span> his plans to raise over <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">$100 million</span> to establish a bitcoin mining center and a manufacturing line to produce <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">ASIC miners.</span> He stated:</div>
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“Russia has the potential to reach up to 30 percent share in global cryptocurrency mining in the future.”</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Marinichev further emphasized the importance of Russia’s cheap electricity and explained that with lower costs, Russian mining centers</span> would be able to compete with key players in the global bitcoin mining industry like Bitmain.</div>
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However, analysts remained skeptical regards to the model of <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">RMC</span> and <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">the vision of Marinichev as Bitmain has recently raised $50 million from leading venture capital firms IDG and Sequoia.</span> In an interview with Bloomberg, Bitmain representatives revealed that the company is valued at several billion dollars, which if true, would make <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Bitmain the most valuable company in the global bitcoin industry ahead of Coinbase.</span></div>
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It will be a <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">challenge both financially and technologically for new companies like RMC </span>to compete with Bitmain even with massive capital because Bitmain has remained as the leading bitcoin mining equipment manufacturer in the global mining market for the <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">past three years </span>and to create a replica of a mining equipment manufacturing line would require <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">hundreds of millions of dollars.</span></div>
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But, RMC and the Russian mining industry could compete with China if the Chinese government decides to heavily regulate and restrict the bitcoin mining industry. Although key figures such as <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Bitmain co-founder Jihan Wu</span> have noted in the past that a ban on bitcoin mining in China is highly unlikely, recent reports suggest the Chinese government is actively considering the potential of restricting its bitcoin mining sector.</div>
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If China does restrict bitcoin mining operations and provides a difficult <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">ecosystem for local miners, regions like Russia</span>could evolve into a major bitcoin mining market especially with the help of the government and with efficient regulations. While it is unlikely that the Chinese government will restrict its mining market, if emerging mining equipment manufacturers and miners in Russia can match the Chinese market in terms of technology and hashpower, there exists a possibility of Russia evolving into a major mining market in the future.</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 900 !important; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Author : </span>Joseph Young</div>
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<span style="color: white; font-family: inherit; font-style: inherit; font-variant-caps: inherit; font-variant-ligatures: inherit; font-weight: inherit; letter-spacing: 0.52px;">Joseph Young is a finance and tech journalist based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering exclusive content, interviews, insights and analysis of cryptocurrencies, innovative and futuristic technologies.</span></div>
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Russia is Trying to Build a Major Bitcoin Mining Industry to Compete With China

Russia is Trying to Build a Major Bitcoin Mining Industry to Compete With China Alexander Drozdenko, the governor of the Russian Le...

JP Morgan Might Not Be Telling The Whole Truth About Its Stance On Bitcoin

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JP Morgan Might Not Be Telling The Whole Truth About Its Stance On Bitcoin</div>
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During mid to late last week, two things dominated the news in the bitcoin space – <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">China and JP Morgan.</span> The former, and likely the larger input of the two, rested on the Asian giant's actions as far as establishment of policy is concerned in the region. Specifically, the closing down of exchanges by the end of this month and – what now appears to be – the concurrent <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">closing down of mining operations and peer-to-peer setups.</span></div>
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JP Morgan entered the picture when it's <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">CEO Jamie Dimon</span> decided to label bitcoin as a <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">fraud</span> and a scheme that is almost certain to, and we are quoting here, blow up eventually. While this isn't as fundamentally impactful as a <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Chinese exchange and mining ban,</span> it did serve to compound sentiment in the space, especially among the fringe adopters (the involvement of many of which has served to push price up over last couple of months) and put a strong downside weight on market capitalization.</div>
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Fast forward to the start of <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">this week,</span> however, and the <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">picture becomes a little less clear.</span></div>
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It's now transpired that not only is J.P. Morgan handling bitcoin related transactions for its clients, but <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">it is also in the market for a blockchain technician to join its forces.</span></div>
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So, the bitcoin transactions are rooted in what is called <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">XBT,</span> an exchange traded note that's designed to track the underlying price of bitcoin and that, in doing so, affords speculators the opportunity to pick up an exposure to bitcoin and its <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">volatility without actually having to buy BTC.</span></div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">JPMorgan is facilitating these transactions.</span></div>
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Sure, there is an argument that the company is just serving as a market-maker between third-party buyers and sellers and, sure, <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">when questioned on the matter there is no doubt that Dimon will maintain this angle, but the question remains – if it is against the rules to trade bitcoin at JP Morgan and if the CEO has said he will fire anyone that does (because they are stupid – his words) then it begs the question why an entity like this is one telling the industry one thing while allowing its clients to do another.</span></div>
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Jack has worked in the cryptocurrency industry for 5 years now as a reporter. His experience is predominately in banking, while he also has a keen interest in the forex world. His daily output is read by thousands of readers globally.</div>
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JP Morgan Might Not Be Telling The Whole Truth About Its Stance On Bitcoin

JP Morgan Might Not Be Telling The Whole Truth About Its Stance On Bitcoin During mid to late last week, two things dominated the n...

Prominent Wealth Advisor: US Banks Feel Threatened by Bitcoin

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Prominent Wealth Advisor: US Banks Feel Threatened by Bitcoin</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Rainer Michael Preiss,</span> the executive director at Taurus Wealth Advisors, stated in an interview with CNBC that US-based banks and their CEOs feel threatened by the growing adoption and popularity of bitcoin.</div>
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Earlier this month, <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Jamie Dimon, the CEO of JPMorgan, the world’s largest investment bank with a $332 billion market cap,</span> was criticized by both the banking industry and cryptocurrency sector for his baseless condemnation of bitcoin. At a banking conference hosted by <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Barclays,</span> Dimon claimed that bitcoin is a fraud and that the government must close down the bitcoin network.</div>
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However, shortly after his statement, <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">CNBC analyst and trader Brian Kelly</span> criticized Dimon for his lack of knowledge in the structure of bitcoin and the contradiction of his own arguments on bitcoin. At the conference, Dimon explained that bitcoin has only been proven to be useful in regions like <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Venezuela that have poor banking infrastructures</span> because people can use bitcoin and its decentralized network to circumvent governments.</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Kelly noted that Dimon directly contradicted his comments</span> on the possibility of governments shutting down bitcoin because as Dimon himself admitted, bitcoin is being used to circumvent governments and existing banking systems.</div>
<div style="border: 0px; box-sizing: border-box; color: #353535; font-family: Lato, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-numeric: inherit; letter-spacing: 0.52px; line-height: inherit; margin-bottom: 20px; outline: 0px; padding: 0px;">
<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">On CNBC’s Fast Money, <a href="https://www.cnbc.com/video/2017/09/13/heres-what-traders-made-of-jamie-dimons-bitcoin-comments.html" style="border: 0px; box-sizing: border-box; color: #fa890f; cursor: pointer; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration-line: none; transition: all 0.3s ease 0.1s;" target="_blank">Kelly explained:</a></span></div>
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“I think Jamie Dimon is wrong. One, the genie is out of the bottle here. And also, Dimon talked about how governments are going to shut it down. Bitcoin is designed to go around governments. That is exactly what it was designed for and you are starting to see that. Jamie even said in his comments that if you are in Venezuela, it might be good to use bitcoin to go around the government, which is exactly the point.”</div>
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Banks and executives of leading financial institutions fear bitcoin because it has the potential to operate as an alternative system to the global financial network which a small group of banks control. Unlike fiat money or conventional assets, bitcoin cannot be regulated, censored and manipulated. <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">The decentralized nature of bitcoin renders the very existence of banks and financial institutions useless through its peer-to-peer protocol.</span></div>
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"Of course, if you run a very large U.S. bank, most probably you are afraid of blockchain and bitcoin. The concerns are about the fractional reserve banking system, and the balance sheet of the Federal Reserve at $4.5 trillion, where the Fed officially refuses an audit. On the other hand, on the bitcoin blockchain, you have an audit everyday because it's open-sourced,” <a href="https://www.cnbc.com/2017/09/20/us-bank-ceos-are-likely-very-afraid-of-bitcoin-says-wealth-advisor.html" style="background-color: transparent; border: 0px; box-sizing: border-box; color: #fa890f; cursor: pointer; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration-line: none; transition: all 0.3s ease 0.1s;" target="_blank">said Preiss.</a></div>
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It is important to acknowledge the argument presented by Preiss on the open-sourced ecosystem of bitcoin because as security expert <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">John McAfee stated in a response to Jamie Dimon,</span> bitcoin cannot be a fraud if every piece of information and data about bitcoin can be easily accessed through its blockchain network. <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">“It costs $1000 to mine 1 bitcoin. What does it cost to print US dollar? which one is the fraud?,” said McAfee.</span></div>
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McAfee to JPMorgan CEO Dimon: it costs $1000 to mine 1 bitcoin. What does it cost to print US dollar? which one is the fraud?<a class="PrettyLink hashtag customisable" data-query-source="hashtag_click" data-scribe="element:hashtag" dir="ltr" href="https://twitter.com/hashtag/bitcoin?src=hash" rel="tag" style="background-color: transparent; color: #2b7bb9; outline: 0px; text-decoration-line: none;"><span class="PrettyLink-prefix">#</span><span class="PrettyLink-value">bitcoin</span></a></div>
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As <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">bitcoin continues to become adopted and embraced as a safe</span> haven asset and digital currency by major institutional <str style="box-sizing: border-box; outline: 0px;">investors, professional traders and the general public, more banks and financial institutions will fear and feel threatened by bitcoin, which is a positive indicator of growth.</str></div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 900; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Author : </span>Joseph Young</div>
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<span style="color: white; font-family: inherit; font-style: inherit; font-variant-caps: inherit; font-variant-ligatures: inherit; font-weight: inherit; letter-spacing: 0.52px;">Joseph Young is a finance and tech journalist based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering exclusive content, interviews, insights and analysis of cryptocurrencies, innovative and futuristic technologies.</span></div>
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Prominent Wealth Advisor: US Banks Feel Threatened by Bitcoin

Prominent Wealth Advisor: US Banks Feel Threatened by Bitcoin Rainer Michael Preiss, the executive director at Taurus Wealth Adviso...

The Two Sides Of The Bitcoin Debate Are Saying The Same Thing

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<div class="lead" style="border: 0px; box-sizing: border-box; color: #353535; font-family: Lato, sans-serif; font-size: 20px; font-stretch: inherit; font-variant-numeric: inherit; letter-spacing: 0.52px; line-height: 28px; margin-bottom: 20px; outline: 0px; padding: 0px;">
<span style="letter-spacing: 0.52px;">The Two Sides Of The Bitcoin Debate Are Saying The Same Thing</span></div>
<div style="border: 0px; box-sizing: border-box; color: #353535; font-family: Lato, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-numeric: inherit; letter-spacing: 0.52px; line-height: inherit; margin-bottom: 20px; outline: 0px; padding: 0px;">
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<div style="border: 0px; box-sizing: border-box; color: #353535; font-family: Lato, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-numeric: inherit; letter-spacing: 0.52px; line-height: inherit; margin-bottom: 20px; outline: 0px; padding: 0px;">
The debate as to how bitcoin is going to navigate the path to mainstream acceptance and widespread use is not quite as foggy as it once was but – if the last few weeks have told us anything – then the fog may be lifting but there are still plenty of twists and turns ahead. <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">The situation in China is far from abating and is likely to continue to worsen near term.</span></div>
<div style="border: 0px; box-sizing: border-box; color: #353535; font-family: Lato, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-numeric: inherit; letter-spacing: 0.52px; line-height: inherit; margin-bottom: 20px; outline: 0px; padding: 0px;">
According to recent reports, <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">the Chinese government is now taking steps to stop Chinese bitcoin </span>executives from leaving the country (exactly why remains to be seen – there's a good chance it's something to do with policymakers' expectations that it's the execs that have the largest holdings) and reports suggesting that we'll likely see some sort of mining ban remain in place.</div>
<div style="border: 0px; box-sizing: border-box; color: #353535; font-family: Lato, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-numeric: inherit; letter-spacing: 0.52px; line-height: inherit; margin-bottom: 20px; outline: 0px; padding: 0px;">
<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Jamie Dimon</span> compounded the action with his statement on bitcoin's fraudulent status.</div>
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Today, CNBC has <a href="https://www.cnbc.com/2017/09/20/us-bank-ceos-are-likely-very-afraid-of-bitcoin-says-wealth-advisor.html" style="border: 0px; box-sizing: border-box; color: #fa890f; cursor: pointer; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration-line: none; transition: all 0.3s ease 0.1s;" target="_blank">reported</a> on the comments of <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Rainer Michael Preiss,</span> executive director at Taurus Wealth Advisors.</div>
<div style="border: 0px; box-sizing: border-box; color: #353535; font-family: Lato, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-numeric: inherit; letter-spacing: 0.52px; line-height: inherit; margin-bottom: 20px; outline: 0px; padding: 0px;">
<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">His opinion on the matter-</span></div>
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“Anyone that runs a very large bank will right now be very understandably afraid of bitcoin and the blockchain.”</div>
</blockquote>
<div style="border: 0px; box-sizing: border-box; color: #353535; font-family: Lato, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-numeric: inherit; letter-spacing: 0.52px; line-height: inherit; margin-bottom: 20px; outline: 0px; padding: 0px;">
<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">His reasons for it:</span></div>
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"The concerns are about the fractional reserve banking system, and the balance sheet of the Federal Reserve at $4.5 trillion, where the Fed officially refuses an audit," he said. "On the other hand, on the bitcoin blockchain, you have an audit everyday because it's open-sourced."</div>
</blockquote>
<div style="border: 0px; box-sizing: border-box; color: #353535; font-family: Lato, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-numeric: inherit; letter-spacing: 0.52px; line-height: inherit; margin-bottom: 20px; outline: 0px; padding: 0px;">
So he has rooted his argument in the transparency that bitcoin allows and the inconvenience of this transparency for a large entity like the fed. That sort of falls completely in contrast to the banks' argument for a ban – <span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">that bitcoin doesn’t offer the transparency and auditability to ensure avoidance of fraud.</span></div>
<div style="border: 0px; box-sizing: border-box; color: #353535; font-family: Lato, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-numeric: inherit; letter-spacing: 0.52px; line-height: inherit; margin-bottom: 20px; outline: 0px; padding: 0px;">
So that's two sides of the equation, former saying that the other is afraid of transparency issues and the later saying that it's concerned about transparency issues and what that might mean for the general public.</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 900; line-height: inherit; margin: 0px; outline: 0px; padding: 0px;">Author : </span>Jack Dean</div>
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Jack has worked in the cryptocurrency industry for 5 years now as a reporter. His experience is predominately in banking, while he also has a keen interest in the forex world. His daily output is read by thousands of readers globally.</div>
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The Two Sides Of The Bitcoin Debate Are Saying The Same Thing

The Two Sides Of The Bitcoin Debate Are Saying The Same Thing The debate as to how bitcoin is going to navigate the path to mainstr...

Bounty And ICO

Multi-Billion Dollar Hedge Funds are Discovering Bitcoin and are Very Optimistic

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JP Morgan Might Not Be Telling The Whole Truth About Its Stance On Bitcoin

Prominent Wealth Advisor: US Banks Feel Threatened by Bitcoin

The Two Sides Of The Bitcoin Debate Are Saying The Same Thing

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