It seems that the Chinese impact on bitcoin isn't going away anytime soon. Well, that's not technically true. From a fundamental buy and sell perspective, Chinese input is slated to almost completely disappear by September 30. However, the fallout from this is likely to last a little bit longer.
During the evening yesterday, we got a couple of Tweets from some pretty big names in the industry confirming Chinese action.
The first was from Simon Dixon, cofounder of BankToTheFuture, which is invested over $175 million in FinTech:
Both seem to suggest the above-mentioned September 30 deadline and the price of bitcoin is sliding dramatically on the back of each development. At last close, we were sitting just above $3000 apiece.
So what does all this mean in the long run?
Well, if the Chinese market is removed from the equation, which is highly likely given that it will now become incredibly difficult for Chinese individuals to buy and sell bitcoin without exchange, it's also going to remove a large portion of the volatility associated with bitcoin right now. Longer-term, this is good thing. While the Chinese are exiting at the moment, it seems bad, but this is a temporary blip.
Also, consider if the Chinese government should stand mining operations. This will translate to an immediate supply constriction and should serve up some upside momentum. It could even be the catalyst that drives a recovery from current levels.
The bottom line here is that we are seeing markets panic but this is nothing that we haven't seen before. Anybody looking to pick up an exposure at a discount can do so in and around current levels, and while that may be further depreciation to come near term, a bottom will soon be found.
General Introduction of BitConnect coin BitConnect coin is an open source, peer-to-peer, community driven decentralized cryptocurrency that allow people to store and invest their wealth in a non-government controlled currency, and even earn a substantial interest on investment.
BitConnect coin can be bought and sold both online and offline. However, the most popular way is to exchange them on crypto currency sites where you can buy, sell or exchange BitConnect coin for another digital currency or fiat money.
BitConnect- A self regulated Financial system What Determines, Affects, and Influences BitConnect coin Price and BitConnect ecosystem? BitConnect Coin price is a perceived regard for its supply and demand features designed during bitconnect coin algorithm along with bitconnect lending platform. The future value of BitConnect Coin is a result of many aspects coin supply mining and minting algorithm, BitConnect community network, and its features. This guide discusses the most important factors that lead its users to consider BitConnect coin to be valuable as of now and in near future.Read More
Initial Coin Offering The ICO will run for approximately 46 days beginning November 15, 2016 at 11:00:00 GMT and ending on December 31, 2016 at 17:00:00 GMT. After successful BitConnect coin ICO, BitConnect will release the BitConnect coins to the Bittrex and to users who bought coins from BitConnect directly, and open the market for trading.
How are they used? The BitConnect coins are used by bitconnect community members for bitconnect services and to store and invest the wealth in a non-government controlled currency. The BitConnect coins will also be used as payment system on number of BitConnect partner websites.
How are they produced? BitConnect coin uses a special algorithm called the POW/POS to secure the BitConnect Coin network. The moment you acquire BitConnect Coin it becomes an interest bearing asset with 120% return per year through PoS minting. All you have to do to earn with this method is to hold coins in your Bitconnect-QT wallet. In addition to PoS minting, BitConnect coin can be mined with CPU/GPU and does not need an ASIC miner like Bitcoin does.
Download bitconnect coin windows desktop wallet, which allows you to receive BitConnect Coin, store them, and then send them to others. It also allows you to stake BitConnect coin. Desktop client for Linux, and OSX available soon.
The BitConnect Coin will see more innovations and convenience features added. We are pleased to announce that Bitconnect Launching its Official Bitconnect Mining Pool to mine PoW BitConnect block.
BitConnect (BCC) Mining pool is a way for BitConnect coin miners to pool their resources together and share their hashing power while splitting the reward equally according to the amount of shares they contributed to solving a block.
Çin hükümetinin Bitcoin borsalarıyla ilgili olumsuz karar alması ve bununla beraber çıkan söylentiler piyasalarda panik havası yaratmaya devam ediyor. Bitcoin son bir haftada %25 civarında değer kaybederek 3500 USD’lere kadar geriledi.
Gerileme sadece Bitcoin ile sınırlı değil, aynı zamanda Ethereum ve Ripple gibi büyük hacimli kripto paralar da kan kaybetmeye devam ediyor. Ethereum $240, Ripple ise $0.17 seviyelerine kadar düştü.
Piyasalarda oluşan panik devam ederken toplam kripto para piyasa değeri de 150 milyar dolar sevilerinden, 120 milyar dolara kadar geri çekildi.
Oluşan panik havası kısa vadeli alım satım yapanlar için olumsuz şartlar oluştursa da, yeni yatırım yapacaklar için aynı zamanda bir çok fırsatı beraberinde getiriyor. Yüksek sevilerden Bitcoin yatırımı yapmaya çekinenler için önümüzdeki günlerde bolca fırsat olacağını düşünüyoruz.
During Bitcoin Wednesday on 6 September, 2017 LA Token’s CEO, Valentin Preobrazhenskiy will introduce the concept of asset tokenization for illiquid properties such as real estate, bank loans and works of art. LAToken is a blockchain-based platform for managing the value of these illiquid assets. It launches what it calls a “token sale event” on 22 August, 2017.
Bitcoin’s limited supply, its reputation as the world’s first, best-recognized, most-proven and most widely used blockchain has certainly contributed to its current valuation: as of 12 August, 2017 a single Bitcoin is worth almost 3 times more than a single ounce of gold. Unlike gold, however, bitcoins can be stored, transported and exchanged reasonably quickly and for relatively little cost. LAToken aims to apply the same approach to illiquid assets like buildings and bridges, allowing us to effortlessly buy and sell small fractions of property anywhere in the world.
Valentin Preobrazhenskiy will explain the concept and use some basic examples to show how LAToken executes it with Ethereum smart contracts. Valentin previously founded the home equity marketplace Zalogo which facilitated more than 12000 home equity offers and 1000 transactions in 2016. Before that he was director of one of the world’s largest startup accelerator programs, the Founder Institute, where he mentored P2P marketplaces for Real Estate and Artworks. He is also the leader of the Founders and Developers blockchain community with 1500 participants and more than 50 meetups since 2015.
Earlier in his career he managed the long-short portfolio at Avega Capital which handles hedge funds for equities and derivatives. He was the Director of Research at Marcuard Spectrum for a portfolio worth $180m for Absolute Return and Value funds (long/short equities, Eastern Europe). He also worked for IHS CERA, Sberbank and VTB. He graduated from the New Economic School, studied capital markets at Harvard and Stanford and served as a vice-president of the Harvard Club in Russia. He also launched the Global Education scholarship program for 700+ students.
BitcoinX: Thank you for taking the time to chat with us today. So, tell us who you are and what your position is at LAToken?
LAToken: I am Valentin Preobrazhenskiy, CEO and founder of LAToken. Four years ago, armed with solid experience in trading equities ($200 million portfolio) and building a back office for hedge funds, I started the home equity marketplace Zalogo, where borrowers could get approved loan offers against their property with the lowest possible rates. In 2016 we facilitated more than 12,000 mortgage offers and closed more than 1,000 deals for 35 banks and investors. Several months ago, we decided to implement blockchain into our platform and add new asset classes to our marketplace, optimizing not only the process of reselling loans, but also the outdated processes of investing and borrowing money. That’s how we built LAToken, the first tokenized assets exchange, that allows its clients to sell and buy equities and real assets using cryptocurrency that’s build, not only that – LAToken is one of the few tokens available built on an existing and profitable business.
BitcoinX: Tell us – what is LAToken? What is the main idea behind the project and why did you decide to start it?
LAToken: LAToken is a blockchain platform that tokenizes and makes tradeable assets ranging from equity and debt to real estate and works of art. Our platform unlocks the value of assets, via fractional ownership. If the asset owners need to borrow money, they can quickly get cash by issuing LATokens and selling fractional shares at LAT Exchange, while keeping the actual asset for their use instead of borrowing money and paying interest or renting. And investors get access to wide diversification options across the major asset classes. They also get a chance to buy real assets using cryptocurrency with more transparency and at lower costs. Finally, we eliminate the information asymmetry and fraud: the blockchain technology itself makes trustworthy data available to all the parties of the deal prior to the transaction and thus provides greater certainty of its worthiness, reducing the risks.
BitcoinX: Blockchain technology is expected to alter the landscape and/or create efficiencies in almost every industry. In what ways does your technology address these?
LAToken: LAToken can completely change the way people see value in their assets and invest, so traditional financial services will definitely be disrupted by our technology. And selling fractions of assets via blockchain is a tremendous milestone for previously illiquid markets like real estate, art etc., as LAToken gives a unique opportunity for investors of all sizes to buy fractions and not the entire asset, entering those markets without spending fortunes. I’ll just give you an example: from the begining of the century real estate’s average annual return was around 9%, which is pretty impresive. But you couldn’t enter the market with just couple of thousands of dollars. We change that, giving individual investors a chance to buy tokens backed by those assets and profit from the market grows.
BitcoinX: When and why did you first decide to do an ICO?
LAToken: This April I realized, that we need tens of millions of dollars to build a highly liquid tokenized assets market. As our platform basically aims to expand crypto economy to the multitrillion dollar markets, it is logical to fund it with a public token sale, attracting asset owners and investors, who in conjunction can speed up our growth to a universal marketplace.
BitcoinX: Tell us about what preparation was required to get the project to this point?
LAToken: Back in April we already had a profitable business – a home equity marketplace. And the perspectives for the company were bright: it had proved its efficiency, and the market was huge: in the United States alone it exceeded $400 billion. But I saw a bigger fish to fry right next to our niche – a marketplace for a wide range of tokenized assets. Why limit ourselves with just loans reselling, if we could tokenize and sell almost anything, I thought. We implemented blockchain into our platform and started adding new asset classes. That’s how we built the first tokenized assets exchange, where equities and real assets are going to be traded for cryptocurrencies. We already launched the test trades of tokenized Apple and Amazon shares, and partnered with MyGold, a gold and silver manufacturing company and mint based in New Zealand, to tokenize and list gold at LAT Exchange. Within weeks we’ll add even more asset classes.
BitcoinX: What makes this project especially exciting for ICO participants? What makes them want to join?
LAToken: LAToken intends to unlock the value of currently illiquid assets worth $517 trillion. We estimate, that the turnover of asset-backed tokens may exceed $1 trillion by 2025, and LAT may be the next cryptocurrency to emerge in popularity driven by its usability on the platform. It is also well-positioned to become one of the most stable and popular cryptocurrencies for the real economy.
BitcoinX: Where are you in the actual development phase of the project?
LAToken: As I mentioned, LAToken platform is operational, allowing to tokenize assets, list them for sale and trade on the LAT exchange. Tokenized Apple and Amazon shares are already tradable at LAT Exchange. And trading of tokens backed by commodities, real estate and works of art will be launched within weeks. To develop our platform further, we start a Public token sale on August 22. There will be four rounds with the proceeds used for tokenization and trading development of the key asset classes: Round 1 – Equity, Round 2 – Real estate, Round 3 – Debt and commodities, Round 4 – Illiquid assets (e.g. works of art). Round 1 is limited to 25 000 000 LATs offered at 0.001 Ether. The price for the following rounds will be higher.
BitcoinX: After a successful ICO, what is the timeline for coming to market?
LAToken: We will launch the tokenized trades in 2018. After that we will launch an app constructor, that allows to build applications on LAT platform tailored specific asset classes, legal requirements and investors underwriting procedures. The Apps would be sold and purchased at LAT App store. By 2020 LAT Exchange aims to become the leading platform for trading tokenized assets.
BitcoinX: Are you focused in any specific geographic areas?
LAToken: At this time we are available for non-US investors. We already have partners tokenizing assets in New Zealand, France, England etc, including a Gold producer, a castle, famous paintings and even an entire company. However, we are currently available for non-US investors, as the turnover of the tokens would be restricted in the US jurisdiction. LAToken is working with regulatory authorities and our legal team DLA Piper to expand presence.
Çinli yetkililerin Bitcoin borsalarını yasaklamasıyla kripto para piyasası alt üst oldu. CoinMarketCap verilerine göre bitcoin 3200 doların altına inerek dipleri gördü ve birkaç gündür süren düşüşünü sürdürdü. Altcoin’lerin de bitcoin’in izinden gitmesiyle piyasa kıpkırmızı bir hâl aldı ve kripto yatırımcılarının eli kolu bağlandı. Piyasada ise birbirinden farklı görüşler hakim.
Kripto para cüzdanı Jaxx’ın kurucu ve CEO’su Anthony Diioro, Çin’in yasak kararının giderek büyük kripto para ekosisteminde ‘kısa süreli bir hapşırıktan’ ibaret olduğunu savundu. Diioro, giderek globalleşen ve sınırların kalktığı dünyada kişiler arasındaki değer akışını veya bireysel özgürlükleri engellemeye çalışanların uzun vadede ‘başarısız’ olacağını kaydetti ve ekledi: “Hükümetler bu şekilde davranarak yeni sektörler yaratma ve gerçek değer inşa etme fırsatını kaçırabilir.”
Bitcoin cüzdanı ve debit kartı sağlayıcısı Crypto CEO’su George Basiladze de Diioro gibi düşünüyor. Çin yasağının geçici bir duraklama getirdiğini ifade eden Basiladze, kripto paralar ve blockchain’li finansal hizmetler için tünelin ucunun aydınlık olduğu görüşünde.
“Çin’de katılacağımız konferans ve toplantıları iptal ettik. Ülke halkının platformumuzdaki faaliyetlerini de şimdilik durdurma kararı aldık.”
Çin’de diğer kripto paraların da yasaklanabileceğini kaydeden Preobrazhenskiy, diğer ülkelerin de yasak kervanına katılabileceğine dikkat çekti.
Blockchain araştırmacısı ve danışmanı Tone Vays ise Çin’in borsalara lisans alma zorunluluğu getirebileceğini belirterek yasağın uzun vadede bitcoin’den çok ethereum’u etkileyeceği tespitinde bulundu.
BnkToTheFuture.com CEO’su Simon Dixon, düşüşün bitcoin’de yaşanan baloncuk için ‘gerekli’ bir inme dönemi anlamına geldiğini kaydetti. Tıpkı Dixon gibi blockchain danışmanı Kaushik Ghosh da Çin’in kararını bir süre sonra tekrar gözden geçireceğini düşünüyor.
Öte yandan Çinli kripto parası borsası BTCC, hükümetin kararının ardından 30 Eylül’den itibaren kripto işlemlerini durduracağını, ancak madenciliğe devam edeceğini duyurdu.