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Practical aspects of algorithmic trading.Bitcoin hedge fund.
Gatis Eglitis, Managing PartnerSergey Troshin, Ph.D., Head of IT Strategy and Operations
Part 3: Bitcoin fund
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EXANTE
1. 2010 - EXANTE ATP & BO, strong IT focus2. 2011 - Maltese brokerage licence3. 2012 - Hedge fund platform & bitcoin fund
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The use of money is all the advantage there is in having money.
Benjamin Franklin
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Money1.Durable2.Portable3.Fungible4.Intrinsic value
1.Store of value2.Medium of exchange
3.Unit of account
Aristotle IV BC
W.S. Jevons XIX AD
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Money history1. before XI BC - barter2. XI BC, China - bronze knives and spades3. VI BC, Lydia - electrum coins4. XI AD, China - paper money5. XXIX AD, Europe - gold standard6. 1944, USA - Bretton Woods system7. 1971, USA - fiat currencies
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Value?
FAITH
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Value!
FAITH
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Digital currencies
1996
1998
2000
2008
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Businesses
Bitcoin
2008 SaToshi NakaMotohttp://bitcoin.org/bitcoin.pdf
Crypto currencies
Exchanges
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Technology
Public-keyCryptograp
hy
Open-source
Decentralization
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Technology
http://visual.ly/bitcoin-infographic
1PC9aZC4hNX2rmmrt
7uHTfYAS3hRbph4UN p
ub
lic key
pri
vate
key
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Mining
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Market
7 day average fromhttp://bitcoinity.org/markets/list
4 day average fromhttp://blockchain.info/pools
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Market
Quaterly average fromhttp://blockchain.info/charts
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RisksLegal Technology Market
Gov’t regulation 51% attack Manipulation
Undefined status Scalability Volatility
Anonymity DDOS attacks Clearing
http://bitcoin.it
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State of the artMoney Tulips Fiat Gold Bitcoin
Store of value * **** ***** ****
Medium of exchange **** **** *** *****
Unit of account * **** ** **
http://bitcoin.org
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Future
Mining
Technology
Exchange
Business
Commodity
Debts &
Loans
Currency
Pension funds
Derivatives
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Although some of the enthusiasm for bitcoin is driven by a distrust of state-issued currency, it is hard to imagine a world where the main currency is based on an extremely complex code understood by only a few and controlled by even fewer, without accountability, arbitration, or recourse.
Francois R. Velde, senior economist (Chicago Fed Letter)
Yep, sounds like the dollar.Reddit commentor
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