Bits and Pieces
Trending Topics Fake volume goes away in China, Mempool, Segwit vs BU
Coinbase Co-Founder Exits
I speculate a little on what’s happening with coinbase. I think there could be an aquisition this year, as soon as there’s some decision on the IRS thing. In the show, I detail how and why I think is likely to acquire them. Coindesk Article
BitFlyer Commercials on YouTube
BitFlyer has three youtube videos that each have 1 million views. I think these are the most watched bitcoin videos on the planet. YouTube Channel
I walk through some of the recent events with China and the PBOC. The fallout of this event is going to be people seeing that the Emperor has no clothes, meaning that China has the same or less true volume than the rest of the world. Chinese volume has been a point of contention in bitcoin since 2013. Here from a Mar 2014 CoinSummit, Bobby Lee of BTCC discusses these problems. Dan Morehead also in clip.
Chinese exchanges have gone to 0.2% fees. Volumes has already started to get to a new equilibrium.
Bitcoin’s Hashrate and Difficulty are Exploding Higher
Japan’s GMO Internet Group to Start Wallet and Exchange Services
GMO Group, the Google of Japan, released their plans to compete in the bitcoin wallet and exchange arena. This is gigantic news and should be added to the list of fundamentals for 2017. They estimate the bitcoin market in Japan to be worth $8.7 billion in the next few years. To expand that, they could be expecting $100 billion market global market for bitcoin. Which is a 6x increase from current prices.
Ethereum Classic Investment Trust
This is a Gray Scale Investment vehicle. Barry Silbert is setting up this Ethereum Trust similar to his Bitcoin Investment Trust open to accredited investors only. Ethereum Classic is the currency in the Trust not Ethereum Hard Fork.
Bitcoin Unlimited is an Altcoin
In the show I discuss a transcript of the Chief Scientist of BU in the Core Slack Channel. It’s pretty good, and once again shows the technical deficit of BU. This is the PasteBin provided by @WhalePanda I think.
Bitcoin Gambling, Calvin Ayer, Founder of Bodog Says Bitcoin About to Takeover
2016 was a huge year for bitcoin and online gambling. It’s hands down the hottest topic in online gambling.
Governments want that activity to take place in their currency, so they can track it, and benefit from it. Gambling is YUGE for a medium of exchange, it can’t be overstated. Some of these industries like gambling, porn or sex workers, and drugs are THE most formative industries when it comes to a medium of exchange. Whether you like those activities or not that is the case.
Governments know they can’t route this activity out completely, but they can earn money off the control. Just like the drug war, the war on gambling and the war on sex work, is a racket for governments. Bitcoin is a weapon in this war.
(would just like to mention, gold cannot be used as a weapon, it’s a passive store of value)
Renegade Investor on twitter