Topic: The next bitcoin boom phase will be driven by the USA. - page 2. (Read 4186 times)
Even the winklevii don't dare to speak for a price above 40k$ and yet everyone else is dreaming of 1m$ bitcoin...
Or so I suspect, at least.
We've just seen large investments in US-based bitcoin companies by savvy VC firms. Circle and Coinbase are both saying that they're going to make bitcoin easier for people to acquire and use. I'm sure they'll be successful in that, but they're also probably targeting next-gen uses of the blockchain (see Naval Ravikant, Co-founder/CEO of Angellist's "The Internet of Money": http://startupboy.com/2013/11/07/bitcoin-the-internet-of-money/ ). Seeing some real apps along those lines will drive another wave of excitement, and convince yet another slice of the populace that bitcoin has merit and is here to stay.
Along the way, someone is going to solve the money-transmission licensing problem. The reason we don't have any solid US-based exchanges is due to state-by-state MTL requirements, and specifically, the surety-bond coverage requirements for businesses to obtain such licenses. Either Coinbase, Circle, or some new well-funded entity will go through the expensive work of getting the licenses, or start a fund/company that's knowledgeable about bitcoin and willing to underwrite the bond coverage. Solving this problem will lead to much better liquidity in the US, and allow for some of the next-gen services outlined above, as well as advanced trading and hedging.
That leads to the beginning of real integration with Wall St. It seems like they're *starting* to shift from completely mocking bitcoin to dipping their toes in the water. They need *much* better liquidity to do anything significant, but unleashing real US exchange platforms will make that possible. Additionally, vehicles like SecondMarket's Bitcoin Investment Trust are already proving popular, and that trend will continue. The potential issue of near/medium term regulatory uncertainty was removed with last month's senate hearings, and further financial integration and products will come as a result, in due time.
In any event, these things are all inter-related and tend to snowball. The hard parts of getting the ball rolling and reducing regulatory uncertainty have already happened.
China can do what they want; I think it's far more likely that the US ends up housing the most robust and sophisticated bitcoin ecosystem.
We've just seen large investments in US-based bitcoin companies by savvy VC firms. Circle and Coinbase are both saying that they're going to make bitcoin easier for people to acquire and use. I'm sure they'll be successful in that, but they're also probably targeting next-gen uses of the blockchain (see Naval Ravikant, Co-founder/CEO of Angellist's "The Internet of Money": http://startupboy.com/2013/11/07/bitcoin-the-internet-of-money/ ). Seeing some real apps along those lines will drive another wave of excitement, and convince yet another slice of the populace that bitcoin has merit and is here to stay.
Along the way, someone is going to solve the money-transmission licensing problem. The reason we don't have any solid US-based exchanges is due to state-by-state MTL requirements, and specifically, the surety-bond coverage requirements for businesses to obtain such licenses. Either Coinbase, Circle, or some new well-funded entity will go through the expensive work of getting the licenses, or start a fund/company that's knowledgeable about bitcoin and willing to underwrite the bond coverage. Solving this problem will lead to much better liquidity in the US, and allow for some of the next-gen services outlined above, as well as advanced trading and hedging.
That leads to the beginning of real integration with Wall St. It seems like they're *starting* to shift from completely mocking bitcoin to dipping their toes in the water. They need *much* better liquidity to do anything significant, but unleashing real US exchange platforms will make that possible. Additionally, vehicles like SecondMarket's Bitcoin Investment Trust are already proving popular, and that trend will continue. The potential issue of near/medium term regulatory uncertainty was removed with last month's senate hearings, and further financial integration and products will come as a result, in due time.
In any event, these things are all inter-related and tend to snowball. The hard parts of getting the ball rolling and reducing regulatory uncertainty have already happened.
China can do what they want; I think it's far more likely that the US ends up housing the most robust and sophisticated bitcoin ecosystem.
Once regulations hit, wall street can start adding to their portfolios with little risk of government intervention in addition to what you stated. The problem is how long will this take to mature to that point? Right now there is panic in the streets bc some guy dumped 3k coins...
the stock market seems long overdue to pop, as the economy will sooner or later hit a very huge wall. i would guess that bitcoin could possibly reach $100,000/btc by that time.. but the question would be: in an economy with hyperinflation, how much does $100,00 buy you? maybe an xbox one?
Not my intended sentiment, but....lol.
Let's finish the bust first.
Eh, I'm not terribly interested in the short/medium term.
Heh... Well, the probability of getting to full success-case (which is a lot less than $1m/btc) is not 1.0, so I do like to ponder the process.
+100 LMAO!
Awesome Movie! FUCK YEEAAAH!!
Let's finish the bust first.
Eh, I'm not terribly interested in the short/medium term.
agreed.
Let's finish the bust first.
Eh, I'm not terribly interested in the short/medium term.
Let's finish the bust first.
Once regulations hit, wall street can start adding to their portfolios with little risk of government intervention in addition to what you stated. The problem is how long will this take to mature to that point? Right now there is panic in the streets bc some guy dumped 3k coins...
I think the regulations have mostly already "hit". In the hearings, all agencies said they *already* have the legislative tools necessary to regulate bitcoin, and that it basically boils down to complying with existing AML/KYC/BSA stuff. The only thing left that's potentially relevant for Wall St. is classification as a currency or commodity. Shasky noted at the hearings that the IRS is actively working on explicitly defining tax consequences for bitcoin-related activity, which will likely involve weighing on the currency/commodity distinction (as silly as it is, obv) in some form or another. That may not fully answer the question, but it's a start. Not even sure how relevant it is (from Wall St's perspective), as long as the tax-treatment is clear.
Or so I suspect, at least.
We've just seen large investments in US-based bitcoin companies by savvy VC firms. Circle and Coinbase are both saying that they're going to make bitcoin easier for people to acquire and use. I'm sure they'll be successful in that, but they're also probably targeting next-gen uses of the blockchain (see Naval Ravikant, Co-founder/CEO of Angellist's "The Internet of Money": http://startupboy.com/2013/11/07/bitcoin-the-internet-of-money/ ). Seeing some real apps along those lines will drive another wave of excitement, and convince yet another slice of the populace that bitcoin has merit and is here to stay.
Along the way, someone is going to solve the money-transmission licensing problem. The reason we don't have any solid US-based exchanges is due to state-by-state MTL requirements, and specifically, the surety-bond coverage requirements for businesses to obtain such licenses. Either Coinbase, Circle, or some new well-funded entity will go through the expensive work of getting the licenses, or start a fund/company that's knowledgeable about bitcoin and willing to underwrite the bond coverage. Solving this problem will lead to much better liquidity in the US, and allow for some of the next-gen services outlined above, as well as advanced trading and hedging.
That leads to the beginning of real integration with Wall St. It seems like they're *starting* to shift from completely mocking bitcoin to dipping their toes in the water. They need *much* better liquidity to do anything significant, but unleashing real US exchange platforms will make that possible. Additionally, vehicles like SecondMarket's Bitcoin Investment Trust are already proving popular, and that trend will continue. The potential issue of near/medium term regulatory uncertainty was removed with last month's senate hearings, and further financial integration and products will come as a result, in due time.
In any event, these things are all inter-related and tend to snowball. The hard parts of getting the ball rolling and reducing regulatory uncertainty have already happened.
China can do what they want; I think it's far more likely that the US ends up housing the most robust and sophisticated bitcoin ecosystem.
We've just seen large investments in US-based bitcoin companies by savvy VC firms. Circle and Coinbase are both saying that they're going to make bitcoin easier for people to acquire and use. I'm sure they'll be successful in that, but they're also probably targeting next-gen uses of the blockchain (see Naval Ravikant, Co-founder/CEO of Angellist's "The Internet of Money": http://startupboy.com/2013/11/07/bitcoin-the-internet-of-money/ ). Seeing some real apps along those lines will drive another wave of excitement, and convince yet another slice of the populace that bitcoin has merit and is here to stay.
Along the way, someone is going to solve the money-transmission licensing problem. The reason we don't have any solid US-based exchanges is due to state-by-state MTL requirements, and specifically, the surety-bond coverage requirements for businesses to obtain such licenses. Either Coinbase, Circle, or some new well-funded entity will go through the expensive work of getting the licenses, or start a fund/company that's knowledgeable about bitcoin and willing to underwrite the bond coverage. Solving this problem will lead to much better liquidity in the US, and allow for some of the next-gen services outlined above, as well as advanced trading and hedging.
That leads to the beginning of real integration with Wall St. It seems like they're *starting* to shift from completely mocking bitcoin to dipping their toes in the water. They need *much* better liquidity to do anything significant, but unleashing real US exchange platforms will make that possible. Additionally, vehicles like SecondMarket's Bitcoin Investment Trust are already proving popular, and that trend will continue. The potential issue of near/medium term regulatory uncertainty was removed with last month's senate hearings, and further financial integration and products will come as a result, in due time.
In any event, these things are all inter-related and tend to snowball. The hard parts of getting the ball rolling and reducing regulatory uncertainty have already happened.
China can do what they want; I think it's far more likely that the US ends up housing the most robust and sophisticated bitcoin ecosystem.
Once regulations hit, wall street can start adding to their portfolios with little risk of government intervention in addition to what you stated. The problem is how long will this take to mature to that point? Right now there is panic in the streets bc some guy dumped 3k coins...
I think it will be driven by Cyprus and the bitcoin bank there.
Or so I suspect, at least.
We've just seen large investments in US-based bitcoin companies by savvy VC firms. Circle and Coinbase are both saying that they're going to make bitcoin easier for people to acquire and use. I'm sure they'll be successful in that, but they're also probably targeting next-gen uses of the blockchain (see Naval Ravikant, Co-founder/CEO of Angellist's "The Internet of Money": http://startupboy.com/2013/11/07/bitcoin-the-internet-of-money/ ). Seeing some real apps along those lines will drive another wave of excitement, and convince yet another slice of the populace that bitcoin has merit and is here to stay.
Along the way, someone is going to solve the money-transmission licensing problem. The reason we don't have any solid US-based exchanges is due to state-by-state MTL requirements, and specifically, the surety-bond coverage requirements for businesses to obtain such licenses. Either Coinbase, Circle, or some new well-funded entity will go through the expensive work of getting the licenses, or start a fund/company that's knowledgeable about bitcoin and willing to underwrite the bond coverage. Solving this problem will lead to much better liquidity in the US, and allow for some of the next-gen services outlined above, as well as advanced trading and hedging.
That leads to the beginning of real integration with Wall St. It seems like they're *starting* to shift from completely mocking bitcoin to dipping their toes in the water. They need *much* better liquidity to do anything significant, but unleashing real US exchange platforms will make that possible. Additionally, vehicles like SecondMarket's Bitcoin Investment Trust are already proving popular, and that trend will continue. The potential issue of near/medium term regulatory uncertainty was removed with last month's senate hearings, and further financial integration and products will come as a result, in due time.
In any event, these things are all inter-related and tend to snowball. The hard parts of getting the ball rolling and reducing regulatory uncertainty have already happened.
China can do what they want; I think it's far more likely that the US ends up housing the most robust and sophisticated bitcoin ecosystem.
We've just seen large investments in US-based bitcoin companies by savvy VC firms. Circle and Coinbase are both saying that they're going to make bitcoin easier for people to acquire and use. I'm sure they'll be successful in that, but they're also probably targeting next-gen uses of the blockchain (see Naval Ravikant, Co-founder/CEO of Angellist's "The Internet of Money": http://startupboy.com/2013/11/07/bitcoin-the-internet-of-money/ ). Seeing some real apps along those lines will drive another wave of excitement, and convince yet another slice of the populace that bitcoin has merit and is here to stay.
Along the way, someone is going to solve the money-transmission licensing problem. The reason we don't have any solid US-based exchanges is due to state-by-state MTL requirements, and specifically, the surety-bond coverage requirements for businesses to obtain such licenses. Either Coinbase, Circle, or some new well-funded entity will go through the expensive work of getting the licenses, or start a fund/company that's knowledgeable about bitcoin and willing to underwrite the bond coverage. Solving this problem will lead to much better liquidity in the US, and allow for some of the next-gen services outlined above, as well as advanced trading and hedging.
That leads to the beginning of real integration with Wall St. It seems like they're *starting* to shift from completely mocking bitcoin to dipping their toes in the water. They need *much* better liquidity to do anything significant, but unleashing real US exchange platforms will make that possible. Additionally, vehicles like SecondMarket's Bitcoin Investment Trust are already proving popular, and that trend will continue. The potential issue of near/medium term regulatory uncertainty was removed with last month's senate hearings, and further financial integration and products will come as a result, in due time.
In any event, these things are all inter-related and tend to snowball. The hard parts of getting the ball rolling and reducing regulatory uncertainty have already happened.
China can do what they want; I think it's far more likely that the US ends up housing the most robust and sophisticated bitcoin ecosystem.
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