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Subject:  Re: OT-Bitcoin Date:  11/5/2017  1:47 AM
Author:  sdsaavedra Number:  268321 of 279113

[off topic]
Thanks DoesMIWork! I'm thinking your btc holdings are doing pretty well.

Mark Cuban's take [just 1 man's opinion...]: " when it comes to blockchain — a decentralized ledger used to record and verify transactions — Cuban said he’s a big fan. But when it comes to bitcoin BTCUSD, +0.11% ethereum and other cryptocurrencies, he said it would be a struggle to see them become real currencies because only a limited number of transactions can be done.

“So, it’s going to be very difficult for it to be a currency when the time and the expense of doing a transaction is 100 times what you can do over a Visa or Mastercard, right?” asked Cuban, adding that really the only value of bitcoin and ethereum is that they are just digital assets that are collectible.

“And in this particular case, it’s a brilliant collectible that’s probably more like art than baseball cards, stamps, or coins, right, because there’s a finite amount that are going to be made, right? There are 21.9 million bitcoins that are going to be made,” he said.

Cuban said initial coin offerings — fundraising for new cryptocurrency ventures — “really are an opportunity,” and he has been in involved in UniCoin, which does ETrade and Unikrm, which does legal sports betting for Esports and other sports outside the United States.

But he and Bass [a co-interviewee] both commented about how the industry needs regulating, with Bass noting that ICOs have raised $3 billion this year, and $2 billion going into September. While many are “actually going to do well,” so many are just completely stupid and frauds,” he said.

“It’s the dumb ones that are going to get shut down,” agreed Cuban.

One problem: “There’s nobody at the top that has any understanding of it,” he added, referring to the Securities and Exchange Commission.

Cuban ended the interview with some advice on where to invest now. He said for those investors not too knowledgeable about markets, the best bet is a cheap S&P 500 SPX, +0.31% fund, but that putting 5% in bitcoin or ethereum isn’t a bad idea on the theory that it’s like investing in artwork."

Other developments...shorts are getting into GBTC perhaps responsible in part for the narrower NAV spread...seem to have gotten squeezed toward the end of last week as btc jumped...again. Also exchanges have filed for btc futures trading, & "Two ETF sponsors filed for funds related to blockchain, bitcoin’s foundational technology" [won't hold btc itself]

I have no idea what all this means....
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