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Ask the experts - #IGCryptoChat - SUBMIT YOUR QUESTIONS

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#IGCryptoChat

DWZmWNwWkAA_U7-.jpgHi all - I'm happy to announce that we are gearing up to broadcast our second IGTV Live Crypto Chat, this Thursday 22nd of February, and we want your questions! Add any question you would like in the comments section below and we will try and pass on as many as possible. Price action, regulation, intervention, or the future of blockchain... anything! 

 

The experts 

Brett Scott is the author of The Heretic’s Guide to Global Finance: Hacking the Future of Money, and a regular contributor to The Guardian, New Scientist, Wired Magazine, and CNN. A former broker, he’s presented on financial inclusion and blockchain systems at the EU Parliament and International Monetary Fund (IMF) events.

 

Derin Cag is the co-founder of Blockchain Age, a digital data consultancy for blockchain technology. He’s a regular speaker at conferences on the implications of the fourth industrial revolution, blockchain technology and cryptocurrencies.

 

You can read the full article here. Please add any questions you would like to ask our guests in the Comments section below. I will be collating these questions up until 4pm on Thursday and passing them onto our panel, but please get your questions in as soon as possible so you don't forget. 

 

The video will be available after the event, so if you can't make it not to worry. I'll update the Community as and when it is published. 

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To bring this to as many peoples attention as possible I'm just going to tag the last few community posters who have commented on cryptocurrencies on Community over the last few days / weeks. Please see the post above for more info :)

 

                   

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One reason is the wild disparity of outlook as to where cryptocurrencies will fit into the financial landscape of the future.

Another is that 'the crowd' has joined the market, often with borrowed money, and they are very very jittery.

 

Bitcoin has 'pretty much failed' as a currency, Bank of England boss Mark Carney declares.  

 

(33 hours ago)

 

 

(today)real2.PNG

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But everyone has a view in the market, irrespective of crypto or other asset?

 

I would have thought it’s more down to no one knowing how to value them, thin liquidity, poor on / off ramps for fiat, and algos auto trading against BTC...

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Thin liquidity and poor ramps for sure, the market took off on crowd intervention (not just normal retail) who are not using algos, the pros were very late to the party. All the while central bankers and governments have been totally disparaging and have tried to talk down crypto and erect road blocks at every turn, the fickle crowd read the headlines and either rush to rejoin or rush to cover, it's a bit like watching a tennis match.

 

(See the advert attached to the article  :smileysurprised:)

 

https://cointelegraph.com/news/study-22-of-bitcoin-investors-used-borrowed-money-for-trading-not-recommended

 

cred1.PNG

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wrote:

We all know they are, but WHY are crypto markets so volatile?

Thanks  - I'll put this message to the team. It will be interesting to see their views on this as itcan be answered from a number of different perspectives (fundamental make up of the order book, speculative investment by 'the herd' as caseynotes pointed out, or a number of other potential factors). Thanks!

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,

 

This article is a bit misleading depending on your perspective.

 

It states 22% of Bitcoin investors used borrowed money for trading. For example, I have traded Bitcoin using IG's spread betting facility and as a result have traded Bitcoin but never actually acquired it. It is the physical purchase and sale of the digital asset, Bitcoin, that moves the price either up or down. So the 22% who borrowed money did not use it to physically acquire Bitcoin but to merely speculate on the price movement. I suppose this is a dangerous form of leverage!

 

Of these 22% they may only account for say 1% of the total Bitcoin market in terms of quantity and value of Bitcoin. It is reported that 1000 people control 40% of the Bitcoin market. It is these people who move the Bitcoin price.

 

The other question is how have Coin Telegraph (Don't get me wrong, I look at their articles daily) have acquired this information? How credible is their reporting and how accurate are their sources? Do they hold any hard evidence of such statistics?

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,

 

I have the following questions:

 

  • In their personal opinion, what are the best UK listed investments investors can make to gain serious and meaningful exposure to Blockchain?

 

  • I have invested in Coinsilium, KR1 (formerly known as Kryptonite 1 PLC) and Vela Technologies PLC. Vela has a stake in BTL which is listed on the Toronto Stock Exchange and is one of the top Blockchain businesses in the world. What are their opinions on these three Blockchain related investments?

 

  • Will Blockchain be adopted by central banks and will cryptographically secured digital currencies become a reality in the future?

 

  • UK overseas territory, Gibraltar, is playing a very proactive role in attracting and encouraging blockchain startups, ICO's and businesses related to cryptocurrencies. What are their thoughts on this?

Apologies, James. I have only just seen this and cobbled something together very quickly due to time constraints. I look forward to seeing what these two have to say. I hope they provide real value and offer something meaningful that we all can use to help us make future investing and trading decisions.

 

TrendFollower

 

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Yes ,  true, thinking about it all spread betters are trading on borrowed money but the best bit was the advert sponsoring the article that encouraged loading up your credit card to buy bitcoin, wonderfully paradoxical given the context of the piece.

 

There are two lines of thought, this all reminiscent of the classic story of the elevator boy giving stock tips circa 1920's, but is also reminiscent of tales of market movers looking to get in after the event, won't buy high, so drive price down first then buy. Only the future can confirm the present.

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What are the three biggest risks to crypto?

 

What are the three biggest potential positive drivers to crypto?

 

Will there be an ether etf?

 

Why do people care so much about an American etf on bitcoin when there are others throughout the world? (Sweden etf)

 

The only reason bitcoin hasn’t been squashed by the US is because it hasn’t proven to be in direct competition with the USD. If it ever does, will bitcoin be in risk?

 

Is USDT a legitimate concern?

 

And yeh like above, cos this guys a broker - what are the market reasons on why crypto is so volatile

?

 

 

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,

 

In case you are interested. I have posted this before but I invest in both Bitcoin and Ether via XBT Provider One funds in SEK (Swedish Krona) and EUR currencies. I use Hargreaves Lansdown as IG do not offer these products. These products are great to invest for a longer time period.

 

These are ETN's which are Exchange Traded Notes. Of course one must be mindful of counterparty risk. They track the price of Bitcoin and Ether like an ETF does. It is the US who are behind as they offer no such product. The only and closest product they have is Grayscale's Bitcoin Investment Trust and there were times when this was trading far too high compared to its NAV. The premium was far too high for my liking based on the risk profile of Bitcoin.

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,

 

Thanks for this. I have just watched it on the Twitter link.

 

I think it was far better than the first one a few weeks back. However, these can still be far better and there is always room for improvement but a step in the right direction.

 

 

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I can see the value for someone who has little knowledge and experience in Blockchain. However, if you are well versed in Blockchain and read / research it then I am not so sure. For this to add real meaningful value it should be able to assist an investor in making investment decisions which is simply does do on any level.

 

I think it is very vague and merely scratches the surface. It is ideal for beginners and is worth a watch for them. 

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