Day: September 7, 2018

Coinbase plots to become the New York Stock Exchange of crypto securities

The future of Coinbase looks something like the New York Stock Exchange. That’s according a vision laid out by CEO Brian Amstrong who was interviewed on stage at TechCrunch Disrupt in San Francisco today.

Coinbase is known for being the most popular exchange for converting fiat currency into crypto — most of the largest traded exchanges are crypto-to-crypto — but he foresees a future in which it plays host to a growing number of cryptocurrencies as it becomes standard for companies to create their own token, which runs alongside equity as an alternative investment system.

“It makes sense that any company out there who has a cap table… should have their own token. Every open source project, every charity, potentially every fund or these new types of decentralized organizations [and] apps, they’re all going to have their own tokens,” Armstrong said.

“We want to be the bridge all over the world where people come and they take fiat currency and they can get it into these different cryptocurrencies,” he added.

Brian Armstrong (Coinbase) says crypto regulation will result in the next version of the stock market #TCDisrupt pic.twitter.com/2kyxAmhPSZ

— TechCrunch (@TechCrunch) September 7, 2018

That tokenized future could see Coinbase host hundreds of tokens within “years” and even potentially “millions” in the future, according to Armstrong. That’s a big jump on the five cryptocurrencies that it currently supports today, and it would make it way larger than financial institutions like the New York Stock Exchange, which is actually a Coinbase investor and is getting into Bitcoin, or the NASDAQ.

One of the critical pieces of making this vision a reality is, of course, regulation. This week at Disrupt, others in crypto space have argued that a lack of clarity around crypto regulation is costing the U.S. as innovation and startups are being developed in overseas markets. As the founder of a U.S.-based crypto startup that is valued at over $1 billion and is hiring hard, Armstrong doesn’t subscribe to that thesis but he did admit that there is “a big open question” over whether the majority of the new rush of tokens he foresees will be securities or not.

Still, Coinbase has made moves to add security tokens to its portfolio with the acquisition of a securities dealer earlier this year.

“We do feel a substantial subset of these tokens will be securities,” he said. “Our approach has always been to be the most trusted [exchange] and the easiest to use. So we want to be the legal compliant place where you can start to trade these tokens that are classified as securities.”

“Web 1.0 was about publishing information, web 2.0 was about interaction and web 3.0 is going to be about value transfer on the internet because now the web has this native currency and so applications can be built that instantly tap into this global economy on the internet,” Armstrong added.

How international can crypto become? The Coinbase CEO thinks that the total number of people in the crypto ecosystem can reach one billion within the next five years, up from around 40 million today.

You can watch the full video from Armstrong’s interview below.

Note: The author owns a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.

The Little-Known Tips For Writing The Perfect Essay

Nearly 2 in 5 high school students lack the English skills needed to complete a college course. This results in most college graduates lacking the writing proficiency needed to get a job, a fact echoed by nearly half of hiring managers.

Most professors agree that essays aren’t just about writing skills or sharing what you’ve learned. Professors describe essay writing as an essential step in the learning process, taking what you’ve learned through reading and coursework, analyzing and synthesizing that knowledge into a clear opinion or idea, and crafting a piece of writing that clearly communicates your thesis.

In short, writing papers helps train you to think and argue.

Writing a perfect essay requires critical thinking skills, reading proficiency, written communication skills, and the ability to organize your thoughts into a clear and concise narrative. Most of us don’t enjoy writing essays, but knowing how to do it right will make a huge difference in your schooling and in your career.

How To Write The Essay

essay writing

Before you get started with your essay, you have to do some prep work. This is one good way of starting to know how to improve your essay writing skills.

Know The Different Types of Essays

Review any requirements laid out by your professor or editor, including the scoring rubric or assignment scope. Read any examples provided by the professor or editor. You might even want to take notes and make yourself a checklist of what to include in your final draft.

One of the best ways to get a good understanding of the assignment is to be familiar with the different types of essays and when to write each type:

Narrative Essays: Tell a real-life story
Expository Essays: Explain or define a topic
Persuasive Essays: Convince the reader to believe or do something

Develop Your Topic

Now that you know what’s expected for the assignment, you’ll need to pick a topic. Sometimes, your professor may determine this for you. If that’s not the case, you need to spend some time narrowing the topic to a more manageable focus.

The best topics should be broad enough to find plenty of supporting information while narrow enough for the essay to delve deep into.

When deciding how narrow the topic should be, always consider the length of your assigned essay. Shorter essays can deeply analyze a single small aspect of the topic while longer essays may need to address how a few aspects work together to form the whole.

As you develop your topic, explore background information from your textbook and class notes and begin to look for supporting research. You’ll need to pick a topic with plenty of good source materials available. Your background research will also help you develop a working thesis. This is a draft version of the essay’s thesis, which you can refine and revise as you conduct further research.

Research & Analysis

Essays are built on what you read and good research is the core of the perfect essay. Remember to pick credible sources (and cite them) and stick to recent publications that aren’t too biased. As you read, take notes so you can refer back to them.

Tips for note taking:

  • Record key elements that back up an author’s argument
  • Keep a list of terms to look up
  • Note questions to follow up on
  • Summarize what you’ve read at the end of each chapter or article
  • Always write notes in your own words, so you won’t accidentally plagiarize
  • Let your notes sit for a few days to give yourself a fresh perspective

Writing & Revising

Once you’ve completed your research, it’s time to start writing your essay. Consider your working thesis: is it still consistent with the evidence? Does it need to be broader or narrower?

Revise your working thesis into a 1 or 2-sentence thesis statement. Use words like “although” or “because” to indicate how ideas are related.

Begin your essay with an attention-grabbing fact or a rhetorical question. Then, give a brief overview of the topic before ending your first paragraph with your thesis statement.

Your introduction should let readers know what you’re talking about as well as your thesis, but save your arguments for the body of your essay.

The body of your essay should have a well-organized structure: chronological, cause-and-effect or ordered by complexity. Always conclude with a brief summary of your main points, restate your thesis, and end with a compelling final statement.

Get more tips for essay writing in this infographic:
How to Write the Perfect Essay like a PhD
Source: Online PhD Degrees

The post The Little-Known Tips For Writing The Perfect Essay appeared first on Dumb Little Man.

Goldman CFO: the story about us dropping Bitcoin trading was ‘fake news’

It sometimes feels like the price of Bitcoin rises and falls on the turn of a speculative dime, and yesterday we saw one such moment come to pass, when it was reported that Goldman Sachs was planning to drop a plan to build a Bitcoin trading platform, causing the price of the cryptocurrency to crash. But today, at TechCrunch Disrupt, the CFO of Goldman Sachs described the story as “fake news,” and said that in fact the bank is still considering how to offer services that involved physical Bitcoin, but that it has not yet set a timeline for it.

“I was in New York yesterday and I was co-chairing our risk committee, and I saw the news article,” said CFO Marty Chavez, referring to the report yesterday. “It wasn’t like we announced anything or that anything had changed for us… I never thought I’d hear myself actually use this term, but I’d really have to describe that as fake news.”

As Chavez described it, Goldman Sachs had been building a Bitcoin trading platform modelled on a commodities futures trading platform, where there is never any Bitcoin traded, but more the promise of how the currency might move.

“Our institutional clients said, ‘We would love for you to clear these new Bitcoin-linked futures contracts offered by the exchanges,’ so we’ve been doing that, and then clients since May [started to ask], ‘We would like for you also to provide us liquidity and trade the principal as principal the futures contracts, not just clear them,’ and so we’ve been doing that, the next stage of the exploration, what we call ‘non-deliverable forwards.’

“These are derivatives, over the counter derivatives,” he continued. “They’re settled in U.S. dollars and the reference price is the Bitcoin U.S. dollar price established by a set of exchanges, the same one that’s referenced in the futures contracts, and we’re working on that now because the clients wanted physical Bitcoin — something tremendously interesting and tremendously challenging. From the perspective of custody, we don’t yet see an institutional grade custody cases custodian solution for Bitcoin.”

While companies like Coinbase are trying to tap into that demand by offering custodial services aimed squarely at institutional money, but Goldman itself still has no timeline for when its own offering might be ready.

“We’re interested in having that exist, and it’s a long road and so I would just be speculating. Maybe someone who was thinking about our activities here got very excited that we would be making markets as principal and physical Bitcoin, and as they got into realizing that that’s part of the evolution but it’s not here yet.”

Bitcoin — and the crypto market generally — suffered significant price losses this week off the back of reports of Goldman’s aborted plans, but that wasn’t the sole trigger. Reuters also reported that EU is looking into regulating crypto and is preparing a report that proposes to regulate exchanges and ICOs.

Bitcoin hit a record valuation of nearly $20,000 in January, and it has struggled to return to those highs during the rest of this year. The cryptocurrency was priced at $6,536 at the time of writing, some way short of a months-long high of $8,266 on July 26, according to information from Coinmarketcap.com.

Lime just dropped some serious e-scooter drama

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E-scooters can really rile people up — whether it’s cities trying to contain the onslaught of the mini motorized vehicles, or celebs such as actor-turned-venture-capitalist Ashton Kutcher fighting for their rights at a tech conference, it seems we are a nation divided.

And sometimes, it’s the scooter companies that can get all hot and bothered.

Take Lime, for example. Last week, the San Francisco Municipal Transit Agency shut down any aspirations the scooter-share company had of operating in the city, instead giving two newer companies, Scoot and Skip, permits to test scooters within the city for the next year.  Read more…

More about Uber, San Francisco, Scooters, Lime, and Tech