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Back to Basics: What Is Money?

on January 29, 2019

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Bytom Is Connecting Physical and Digital Assets - [BTC Media Sponsor]

Assets of all stripes have long been recognized for their value in building wealth, paying debts and meeting both short- and long-term commitments. But now, with the exponential growth of computing power and big data, the value of strictly digital assets has all but eclipsed the traditional physical assets that were long the cornerstone of personal wealth. As such, there is a growing need for projects that can connect the worlds of traditional physical assets and cutting-edge digital ones, thus providing the best of both worlds. A key player in this movement to move real-world assets into the digital world is a project known as Bytom . With an eye on rapid advancements taking place in the world of blockchain technology and artificial intelligence, this nearly 2-year-old project aspires to become the collision point between the old and new school. Bytom is a blockchain protocol of multiple byte assets that serves as an engine for the exchange and interaction of real-world assets. ...

London’s ETC Group to List Centrally Cleared Bitcoin ETP on Deutsche Börse’s Xetra

A UK-based financial services company will list a centrally cleared bitcoin exchange-traded product (ETP) on Deutsche Börse’s Xetra electronic trading market later this month. In a statement released on June 9, Etc Group said the contract, known as Bitcoin Exchange Traded Crypto (BTCE), tracks the price of BTC and is 100% physically backed by the cryptocurrency. One BTCE is equivalent to 0.001 bitcoin, less fees, it said, allowing the holder of each unit of the derivative a claim on a specific amount of bitcoin. Redeemable in either BTC or cash, the ETP will be distributed and marketed on a platform operated by Hanetf, a European Union-approved private issuer of exchange traded funds. “With BTCE, we are transporting bitcoin into the fold of mainstream, regulated financial markets,” Bradley Duke, chief executive officer of Etc Group, said in the statement, without giving a date on the planned listing. “Investors get the benefits of trading and owning bitcoin through a regulated...

VanEck Says Bitcoin Miners Face $50 Billion Funding Gap In AI Pivot

Bitcoin miners racing into AI hosting may be facing a much bigger capital problem than the market appreciates, with VanEck warning that the sector could need $50 billion in near-term funding to execute the pivot. TL;DR VanEck estimates a $50 billion near-term funding gap. The long-term capital need is estimated at $221 billion. Only 25% of leased capacity has reportedly been physically delivered, highlighting execution risk. The AI Pivot Is Expensive Bitcoin miners have increasingly promoted AI hosting and high-performance computing as a way to diversify revenue after the halving. The pitch is attractive: miners already have power relationships, sites and infrastructure experience. But VanEck’s analysis suggests the conversion is far from simple or cheap. The verified source packet says VanEck estimates a $50 billion near-term capital gap and a $221 billion long-term capital need. Those figures highlight the difference between announcing an AI pivot and actuall...

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Back to Basics: What Is Money?

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