I for one am looking forward to the securitization/tokenization of student loans
When are token default swaps coming?
Our path to listing SEC-regulated crypto securities
111–120 of 156 posts
Re: Our path to listing SEC-regulated crypto securities
#112This sounds great until people realize that only qualified investors will be allowed to trade security tokens.
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Re: Our path to listing SEC-regulated crypto securities
#113Earlier quoted context omitted.
You have something like a 1 in 4 billion chance of entering a valid bitcoin address if you made a typo, whether it's "one letter wrong" or some other combination of changes (there's a 32 bit checksum). So actually this never happens.
Does a BTC address that does not exist cause an error or does it go into oblivion until someone happens to generate a key that matches it?
Goes into oblivion. How would you send funds to a newly created address if that wasn't the case? The bitcoin network doesnt know which addresses are ready to be used on the network and which aren't since there isn't any setup the address does with the network prior to being operational.
Re: Our path to listing SEC-regulated crypto securities
#114Earlier quoted context omitted.
It requires fiat banking less than you might think, depending on what you are doing and what jurisdiction you are in. I am in Argentina. I don't personally do it, but I know a lot of people that live on cryptocurrency salaries (not "crypto gains" but actual money paid to them periodically in a cryptocurrency). I find your last statement extremely unlikely. I think Ethereum has a pretty solid utility story (and I'm de…
You need fiat banking to cash in and cash out. You are at the mercy of the fiat banking stakeholders. You can create any crypto currency but if nobody can buy it with cash or sell it for cash, it's worthless. SEC has already announced they are looking at Ethereum as security, insiders have already sold according to rumours, because they are being targeted by the SEC- Turns out if you sell tokens with expectation of i…
You don’t need fiat, you can sell your startup shares for AAA bonds, both denominated in ETH. Treat the bonds like a checking account.
Technically you could buy coffee with a fractional share of a goat or similar. Once a critical mass of securities are tokenized, we enter essentially the “Infinite Currencies” phase of money where there’s no difference between assets and currencies in terms of ease of spending.
Re: Our path to listing SEC-regulated crypto securities
#115Has the SEC classified crypto coins yet as securities or commodities?
apart from saying that bitcoin isn't a security, no. Just yesterday this infuriatingly vague video came out https://www.youtube.com/watch?v=8YtZJRUak8E
But they refused to actually say if any specific coin was/wasn't a security besides bitcoin.
Re: Our path to listing SEC-regulated crypto securities
#116>> This step forward is being made possible by our acquisition of a broker-dealer license (B-D), an alternative trading system license (ATS), and a registered investment advisor (RIA) license. Great sentence in the press release. My thought was that someone (obviously would be Coinbase given their massive amounts of funding) was out looking for a BD. But they went a step further with the ATS and RIA licenses. Coinbas…
I wonder what the account requirements are for a BD. Will they have to deny services to foreigners and kids?
I do not believe there is any US regulation that denies brokerage accounts to foreigners or minors. If they do, it may be an independent decision by brokerage firms simple because they don't want to deal with the extra paperwork.
Being a BD means a whole ton of paperwork, compliance and regulation. You have to abide by KYC and AML rules (Know Your Client and Anti-Money Laundering). People in charge of accounts need to become registered reps and take 1 of the Series Exams administered by FINRA. I imagine there will be some changes to incorporate crypto into the licensing.
Re: Our path to listing SEC-regulated crypto securities
#117Earlier quoted context omitted.
Tzero (overstock.com) did the same thing last year so Coinbase isn’t even the first to do this in the crypto space.
tZERO looks like it's raising money from investors. That seems a bit different than listing SEC regulated crypto currencies. https://www.startengine.com/tzero?no_newsletter=1 > The tZERO token will pay 10% of adjusted gross revenue to token holders on a quarterly basis, subject to board approval and the conditions outlined in the offering memorandum I want to compete with Angels and VC's for investment in early stage…
They bought a broker dealer and ats prior to their current capital raise. They want their token to be the first of many sec regulated crypto assets on their regulated exchange.
Re: Our path to listing SEC-regulated crypto securities
#118Re: Our path to listing SEC-regulated crypto securities
#119Earlier quoted context omitted.
>we can go back to building valuable companies Like what? >with a whole new way of funding them. What's wrong with US Dollars?
Crypto securities don't replace the US dollars. They replace the shares you're buying when you invest in a company. You are welcome to use US dollars for that if you want. Chances are depending where the companies are based, getting the money in USD to them could be tricky though. What company people are going to build is anyone's guess, but mine is that there's going to be a lot of them. Silicon Valley is only but a…
Why would I want a crypto token instead of shares, though? With shares, I have ownership in the company, and I have a number of rights. With a token, I have precisely squat.
Re: Our path to listing SEC-regulated crypto securities
#120Earlier quoted context omitted.
>we can go back to building valuable companies Like what? >with a whole new way of funding them. What's wrong with US Dollars?
>What's wrong with US Dollars? Its controlled by the Federal Reserve which is partly controlled by the government. Basically your USD is worth what the central bank says they are worth. A new war? Your dollar loses value. Out of control debt? Print more money. Bitcoin has 21,000,000 solutions ever ever ever.
Uh, the US is at war now in Afghanistan and until 2011 was at war in Iraq. The USD is fine.
If WWIII breaks out, I’m betting the Internet (in its current open and international form) will be an early casualty. How’s that going to work out for bitcoin exactly?