My Analysis of the Bitfinex Pitch
Full disclosure: I created the BFX Trust to help larger Bitfinex creditors convert to equity as I believe that adversity & misfortune often present golden investment opportunities. I do not work for, nor am I paid by Bitfinex. My actions are independent and based on my own judgement and desire to see the whole Bitcoin […]
Continue readingBitcoin – The Non-Systemic Asset
By 2020, Global assets under management (i.e. directly within the financial system) will exceed $102 Trillion. Roughly one third of this figure will be pension funds alone. As illustrated in 2008/09, the financial system is intertwined with such complexity that knock on effects are nearly impossible to predict. Movements in ‘fair value’ of assets can swing with […]
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Why Bitcoin’s Illicit Image is Temporary
Until fairly recently, most media attention on Bitcoin has centered around its use on the Dark Web, thefts/hacking/blackmail and generally painted a picture that it is somehow in itself illicit and ‘dirty money’. Many well-educated people still believe those interested in Bitcoin must be involved in something of questionable morality. Last week I was in […]
Continue readingBitcoin: We Are Here
This all feels so familiar. A new technology, huge media attention, hysteria … followed by a price collapse and the majority saying ‘this is the end’. Let us consider Amazon. Floated in 1997 at ~$2. One year later, the price peaked at nearly $17. Even with stock splits, Amazon’s price per share reached a peak […]
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