February 10th from NYC: We are finally joined by others and I finally got my Audio/Video straight :). Here is the TL;DR:
0:01:00 – China Looking to Add KYC/AML and Frozen Bitcoin Withdrawals: This is not surprising to me. I have said a while ago that the regulation in China will get out of hand they will be looking to freeze/confiscate bitcoin of foreigners. For now it has not got that far but if you are not Chinese and you should really think about having your bitcoin there. In fact you should not have anyone holding your private keys. Since there are no laws on insider trading, I’m not surprised
0:14:00 – Estonian Company Creating a Blockchain for NATO: This story is kind of silly and BraveNewCoin did a very bad job investigating this. First of all Gaurdtime is claiming to be a Blockchain company since 2007. They apparently have also built a Blockchain for Health Care and this claim needs to be investigated. If they are claiming it’s immutable, how is it being accomplished? Is it PoW? What is most likely is that they know what they are doing and just using the Buzzword Blockchain cause that’s what everyone wants.
0:25:00 – Japan Crates a BitLicense and Polish Exchange Scams Users: I’m not surprised Japan is putting in crazy regulation as it is that kind of society and they are also over reacting to Mt. Gox. As for some Polish exchange running away with bitcoin, sorry for your loss and welcome to Bitcoin!
0:37:00 – Winklevoss ETF: I once again talk about the stupidity of the Winkevii ETF. I do not think it will be approved, and I do not think it should be approved and here is why:
1. Who is going to hold the private keys? This is a major issue and will create a giant honey pot of coins at risk of internal or external hackers.
2. This opens the door for infinite number of Bitcoin ETF, not to mention immediate filing of Scam/Shit Coin ETF’s like Ethereum and OneCoin
3. This also creates a major attack vector for a Government to confiscate the bitcoin underling the ETF under its jurisdiction.
The Wall Street Journal also pointed out an interesting conflict of interest point:
“I don’t believe there’s any ETF that trades in the U.S. where a single entity is the sponsor of the ETF, the provider of reference price for the underlying asset and the custodians of underlying asset, and that is what the Winklevosses are proposing,” says Mr. Bogart
BONUS: I spend the last few minutes of the video talking about the price…. I’m Bullish