Long awaited from investors who believe the old world has just another asset called bitcoin one of the most regulated exchanges in the world Coinbase has just fulfilled their ICO. And of course Coinbase is part of the Digital Asset Group, founded by Berry Silbert, who once was crying for regulations in Bitcoin in the New York hearing before the BitLicense was established.
Meanwhile Coinbase was acquiring Xapo one of Europe largest Exchanges based in Suisse and with other investments it nearly hold 1/3 of all Bitcoins in circulation. That doesn’t make it easier. You can only send away 2 Bitcoins a day and if more you have to file and name where you will send the funds to. No keys, no coins will be the hardest stand for investors of the IPO because Coinbase is not unhackable. Last triggering of some hacking groups enfolded loopholes and other flaws. A hack will definitely kill the value of the stock and shred it.
But on the other for those who believe Bitcoin real value has to grow for capital gain reasons of institutional investors, this is a big game. Expecting in the next two month Bitcoin will perhaps bypass $US 70,000 and skyrocket.
Meanwhile against all odds another report of crime in Crypto Report shows only 1% of all crime was related to Bitcoin. A new group called “Crypto Council for Innovations” shaped by Coinbase, Fidelity and Square brought this report alive (https://info.chainalysis.com/n/NTAzLUZBUC0wNzQAAAF8cWTQCERdmDXJPB46bUwI7GMla1-PKXBJkGs23JbvZrNfIEhPng2YwGzeYH-VbB0gagb5ihY=) By the way Chainanalysis a company tracking all Bitcoin Activities 24/7 and self-proclaimed long arm of the law fighting “misuse” of Bitcoin is part of the Berry Silbert Group and of course the new Crypto Council.
It seems the old world tries really hard to manage people giving their IDs away for nothing and underdog the principles of Bitcoin.
For those who actually own Bitcoin great times ahead. Since we know the world loves to be regulated and treated the price of Bitcoin will gain more. But do the resources really used for fighting poverty, building a new economy without banking service, driven by the user community? For sure not, if the Crypto Council in. This is only the stealth mode of the new world. Keep in mind: Bitcoin was created not to include financial service authorities.
Written by : Prof. (Dr.) h. c. Joerg Molt