Topic: ★★DigiByte|极特币★★[DGB]✔ Core v6.16.5.1 - DigiShield, DigiSpeed, Segwit - page 1180. (Read 3059020 times)

LedgerX Hopes to Establish First U.S.-Regulated Options Exchange for Bitcoin

A new startup out of New York called LedgerX LLC has recruited big financial-industry names to its board of directors and raised venture funding from Lightspeed Venture Partners, Google Ventures and others to add a dose of legitimacy to the bitcoin market.

LedgerX hopes to become the country’s first bitcoin options exchange with Uncle Sam’s blessing. It submitted applications to the U.S. Commodity Futures Trading Commission, or CFTC, which regulates U.S. futures and options exchanges, in late September to be approved as a derivatives exchange with bitcoin as the underlying asset to be traded, according to LedgerX co-founder and Chief Executive Paul Chou.

Supporters of the company, which was started this year by former Goldman Sachs high-frequency traders and Massachusetts Institute of Technology-educated computer scientists, believe that a U.S.-regulated, U.S.-based options exchange for bitcoin would settle down some of the volatility of bitcoin prices, give existing businesses that store and trade bitcoin an additional means to hedge their bets, and bring financial institutions who haven’t been comfortable with bitcoin so far into the game.

“It’s no different than with corn farmers,” said James Newsome, former chairman of the CFTC and former CEO of New York Mercantile Exchange, who is now on the board of directors at LedgerX. “They’ve got all this corn, the grain markets have been volatile. They could enter into hedging contracts knowing exactly what it’s worth, and not worrying about volatility.”

LedgerX retained Mr. Newsome and his Washington lobbying firm Delta Strategy Group to help persuade the CFTC. Mr. Newsome said that Delta took an equity stake in the company in exchange for reduced rates for the work he does on its behalf. In addition to Mr. Newsome, LedgerX brought on Thomas Lewis, who served as CEO of Ameritrade Holding Corp. for a short stint and who is former CEO of Green Exchange Holdings LLC, to the board.

A CFTC spokesman said that the agency doesn’t comment on pending applications.

“It’s something that I am anxious to see out there,” said Bryan Crohn, chief financial officer at BitPay Inc., speaking generally about the possibility of a regulated bitcoin derivatives exchange and not about LedgerX in particular.

BitPay and others process roughly $2 million to $4 million in bitcoin transactions globally in aggregate every day, Mr. Crohn said. The processor holds the bitcoin and makes money by selling it at a higher price than where it was bought.

“If the price is going down, I have nothing to minimize my downside risk,” Mr. Crohn said. All BitPay can do right now is hold bitcoin and wait for the price to increase, he said.

“Once we have those options, those derivatives available, we would be hiring immediately an experienced trader to do just that,” Mr. Crohn said.

A lot of work is ahead for LedgerX even before it launches, which is why the company has raised $4.5 million in seed and Series A financing. The Series A came this summer led by Lightspeed, according to Mr. Chou and Jeremy Liew, a partner at Lightspeed and a vocal supporter of bitcoin.

Before that, the company received seed funding from Google Ventures, as confirmed by a spokeswoman for that firm. SV Angel and Fenway Summer, a consumer finance advisory and investment firm, also participated in the seed round, Mr. Chou said.

Now that the company has the capital it is trying to persuade the regulators to approve its efforts.

“It is new ground, there is no question,” Mr. Newsome said.

Mr. Newsome said that he has had several meetings with the staff at the CFTC to discuss LedgerX’s applications. (It made two, one for a swap execution facility and the other for a derivatives clearing organization.)

In early October, the CFTC held a meeting to discuss whether the agency has jurisdiction over derivatives contracts that reference digital currencies.

There is some pressure on the CFTC and other regulators to start dealing with bitcoin, Mr. Newsome said. “Whether we like it or not, [bitcoin] is being used by legitimate companies as a form of currency. You can’t keep your head in the sand and act like it doesn’t exist.”

In addition, he said, regulators have a competitive streak to them, which might help LedgerX’s application. “It’s apparent that there’s going to be a regulated derivatives market that develops. Would you prefer that to happen in the U.S., or do you want that to migrate to London, Dubai or Hong Kong?”

Regulators, he said, “have a fear of being left out.”

But getting LedgerX approved isn’t simple. The company would have to prove to the agency that the underlying market, in this case bitcoin, isn’t easily manipulated, Mr. Newsome said. It would have to also show that it is capable of operating an exchange and that it can establish sufficient surveillance of market makers to note when suspicious activity takes place.

Mr. Liew, of Lightspeed, said he realizes it’s risky to put money into a company pre-launch whose business model is centered on getting government approval in a sector that has gotten none. “It’s venture risk,” Mr. Liew said. “It’s possible that it doesn’t work out, but you find the people who have the best possible chance to do it.”

CORRECTION 10/27/14: This story was changed to correct that LedgerX has submitted applications to the U.S. Commodity Futures Trading Commission to  become the U.S.’s first bitcoin options exchange. A previous version of this article said the company was attempting to be the first bitcoin futures exchange.

Read my post second above.
Unfortunately, we got to the bottom atm, this is the lowest ever from the creation of the coin.
So this is one reason to buy

So, what's up with mining?

Haven't been able to mine a single DGB since the weekend. Cryptopoolmining is apparently off line, on Birds Pool I have over a million "dead". I'm using SHA for DGB but can't seem to find a working pool.

Apologies if this has been discussed, just got back from vacation and haven't had a chance to catch up in the forums yet...

why price so down???

I'm willing to make a german translation and also to take care of the multilingual configuration of Drupal (I'm a Drupal professional). But before I invest time in this project I want to see it's worth it by getting more information about the "good things around the corner for DGB" and their status. This is the 3rd time I'm asking and still have no answer...

The most important reason is that DGB does not seem interesting to investor... Not yet any marketing or advertising...
It just seemed to them like any other coin around maybe more minable options involved...

Therefore, not much buy walls but those inflated coins come to be dumped so results in price drop...
If this is the rate in next 2 weeks we will see 12-13 Sats unless an interesting news came up.

I think there is nothing wrong with the current inflation rate, rather than reducing it, we should let people use DGB around the world including china, do the right thing like marketing, advertising, then this amount of DGB will not be enough for the world... Now you see bitcoin is just not enough....

PS: If the reward is halved, I would not mind though. It can be good in the long run. If it should be done anyhow, then should be done in the next update.
We should not really play a lot with the main core of the coin too much... The investors may run away due to radical decisions on the coin.


BTER.COM should add DGB... That might help a lot.

Nothing, it says right after clicking the .APK file this
Package installer stopped.

As you see i downloaded the apk file 4 times.

I also downloaded a new .apk installer
Edit: I'm now trying to download a android emulator to get android on my windows

Digibyte, I can't install the new android wallet.
android 4.4.2  Samsung S5

Thank you all for the input & suggestions!

We will be making the logo slightly darker and we will be doing away with the google translate display on the website. In the coming weeks we will setup bounties for website translations to different languages. But before we do that we need to get DigiByte mining under control & sorted out. We are planning to do several things to make mining easier for people.

We want to get the mining guides up on the new site ASAP! In order to do this we need to get the most up to date information for each algorithm. So to help us do this please help us list the best mining software for each algo.

Sha256
GPU/ASIC: Cgminer 4.7 http://ck.kolivas.org/apps/cgminer/ (does this support GPU still on sha256)?
CPU: Should we even bother?

Scrypt
GPU/ASIC: CGMiner 3.7.2 (last version to support scrypt) http://ck.kolivas.org/apps/cgminer/old/3.7/
CPU: https://bitcointalksearch.org/topic/an-even-more-optimized-version-of-cpuminer-poolers-cpuminer-cpu-only-55038
What are people using for Scrypt ASICS?
bfgminer??

Skein
GPU: reorder cgminer 3.7.3 https://github.com/reorder/cgminer_skein
GPU: SPH-sgminer https://bitcointalksearch.org/topic/ann-sph-sgminer-multi-coin-multi-algorithm-gpu-miner-added-marucoin-475795
CPU:https://bitcointalk.org/index.php?topic=322828.0   (this would get you some good information)

Qubit
GPU:SPH-sgminer https://bitcointalksearch.org/topic/ann-sph-sgminer-multi-coin-multi-algorithm-gpu-miner-added-marucoin-475795
CPU: minerd?

Groestl
GPU: SPH-sgminer https://bitcointalksearch.org/topic/ann-sph-sgminer-multi-coin-multi-algorithm-gpu-miner-added-marucoin-475795
CPU: Minerd?
NVIDIA: Any suggestions?

Lets get the most up to date list possible. Please repost & list the miners you use.

I can do the Dutch translations.

I'm going to do some research about the mining software.