Bitcoin and the issue of Trust
Bitcoin (unlike many other cryptocurrencies) does meet many of the requirements of fiat money but as an institution some of its advocates have been doing it few favours. Many members of the general public see Bitcoin as a scam and in order to sell it to these people we must deal with the thorny issue of trust. In order to establish trust I would contend that we, as advocates, should consider changing our emphases to improve stability and thereby increase acceptance. We will have an immersed society when a citizen can pull up at a shop and order a pizza using bitcoins to pay, not as a once....
Related News
Injecting an additional US$65m into the ecosystem would push the market cap up a bit. That said, it is possible the Winklevoss twins will use a part of their own Bitcoin stash for this project. The SEC has published a document on the Winklevoss Bitcoin Trust, which is set to issue its own shares to investors. The primary objective of this Trust is to hold Bitcoin, and the initiative is sponsored by Digital Asset Services, LLC. The name Winklevoss has been synonymous with Bitcoin for quite some time now. Tyler and Cameron Winklevoss launched their own Bitcoin exchange, called Gemini,....
The concept of bankchains is quite appealing to people active in the financial sector, but the inherent issues and questions associated with this tool need to be addressed first. Besides issuing currencies over the bankchain, the ability to issue different products can also be a powerful tool. Even though hardly anyone in the Bitcoin community is in....
A second firm has filed with the US Securities and Exchange Commission (SEC) in a bid to launch a public investment vehicle that would offer exposure to bitcoin. Blockchain technology firm SolidX announced today it has filed a registration statement with the SEC to launch the SolidX Bitcoin Trust. According to the S-1 filing, the trust will issue shares that represent units of ownership in the trust, with SolidX Management LLC acting as the custodian of bitcoin held by the trust. Bank of New York Mellon, in turn, will act as the administrator of the trust and custodian for its cash....
In mining we trust. On the side of the US $1 bill it says "In God, we trust". Because money is all about trust. Trust that it's real, trust that it will remain at a similar value for the duration of the transaction at least, trust that the products are represented honestly. In the past trust that the paper was redeemable in gold, and more recently trust that our dollar will be backed by the "full faith and credit of the US Government". And when that trust is lacking society shuts down. To some extent, the crisis of 2008, in the same manner as the one in 1929 was about the lack of trust.....
EtherIndex LLC, a Wilmington, Del.-based corporation, has registered a trust called the EtherIndex Ether Trust with the Securities and Exchange Commission (SEC), marking the first ether-based trading fund. The trust’s purpose is to give shareholders exposure to the daily change in the U.S. dollar price of ether, minus expenses and liabilities, according to its prospectus. Ether is a digital commodity based on the value token of the Ethereum computer network blockchain. The trust is not actively managed. The trust marks the most recent in a string of digital currency based trading funds.....