Tuesday 1st April

BITCOIN

Satoshi Nakamoto

Satoshi is a genius … every single objection you can come up with has been anticipated. Conceptually Bitcoin is as bullet proof as anything I’ve ever seen – Marc Andreessen, Andreessen Horowitz

 

Visa & MasterCard

Walmart suing Visa is the largest endorsement ever for bitcoin. If I was running money for very aggressive accounts I would be scaling into #Bitcoin and platform and shorting MasterCard and Visa – Howard Lindzon

 

Tax

Once Zerocoin is folded into the reference client all the IRS bluster will be moot. People will report what they want to and nothing else. – Beautyon

Used to find myself on pins & needles worried about regulatory agencies affecting bitcoin. Now I laugh at the notion. – Rey Poullard

 

 

ALTCOINS

Ethereum

You still on your 30 day no spend? – Tom Hashemi

I’m a free man when it comes to trading, but I’m saving for the ether IPO – TwoBitIdiot

 

Counterparty

What’s gotten me excited about Counterparty is the possibility to crowdfund a project with bitcoin and be able to pay dividends (in bitcoin) to investors using the blockchain alone.

No need to wait for kickstarter.com to accept BTC and approve each venture, because we can have pure peer-to-peer investment and return right now. – cantonbecker

 

 

EQUITIES

Russia

The average large cap stock in Russia now has a price/earnings ratio of just 5.32 (compared to 17.20 for the S&P 500 in the US).

Plus the average price / book ratio in Russia is just 0.62. Peanuts.

Look at Gazprom as an example, which has a price/book ratio of about 0.33 and a P/E ratio of 2.33.

Gazprom’s market cap is roughly $80 billion. But it’s NET assets are worth about $260 billion. Plus the company generates a whopping $33 billion per year in profit.

This means (theoretically) that if you had an extra $80 billion laying around, you could buy Gazprom, sell off the assets, and put $180 billion in your pocket.

If you prefer to keep things uncomplicated, there are a number of ETFs which exclusively hold Russian stocks, like the SPDR S&P Russia Fund (RBL) – Simon Black

 

South Korea

For all the concern over military tension between North and South Korea, stock investors are starting to bet the countries are headed toward reunification.

Shinyoung Asset Management this month opened the first South Korean fund focusing on equities that would benefit from a unified peninsula.

South Korean President Park Geun Hye said in January that combining the North’s natural resources with the South’s high-tech economy would create a “bonanza”.

Unification “is inevitable before this decade is over,” – Jim O’Neill, the former chairman of Goldman Sachs Asset Management

Investor Jim Rogers, the Singapore-based chairman of Rogers Holdings, says the two Koreas may combine within five years. “Once the war discount disappears, all South Korean shares will go up.” – Sharon Cho

 

 

COMPANIES

Gyft

The single most important business in the cryptoeconomy is Gyft – Bryce Weiner

I wish I could go long Gyft. Adding Walmart is huge. Bitcoin can be used almost anywhere now. – TwoBitIdiot

 

Uber, Lyft, AirBnB

Los Angeles city officials somewhat humorously decided to “ban” Uber, Lyft, and Rideshare (a similar service); the companies just ignored the rule.

AirBnB was banned in Portland. As usual, New York City is a role model for how eager lawmakers are to side with special interests – the city charged a man with a $40,000 fine last year for renting out his apartment with AirBnB.

Change is simply proving too big a pill to swallow for many city officials and hotel lobbies. But there is much cause for hope. Most people are rightly outraged by the indefensible anti-competitive actions taken against innovative firms.

Cronyism may have been a competitive political strategy for a very long time, but the status quo is being challenged, and the continued successes of Uber, Lyft, and AirBnB are just the beginning. – Veronique de Rugy

 

U.S Firms Have Leading Profit Share of  World’s Top 2,000 Companies

U.S. power hasn’t declined — it has globalized.

American firms particularly dominate the technological frontier, including a whopping 84 percent of the profit share in computer hardware and software (despite China becoming the largest PC market in the world in 2011)

* 89 percent of the health care equipment and services sector.

* 53 percent of pharmaceuticals and biotechnology.

* An incredible 42 percent of the world’s millionaires are American (as opposed to 4% Chinese)

* More than 40 percent of the world’s household net wealth is based in America.

The extent of American dominance is stunning. – Sean Starrs

 

 

PLACES

The Isle of Man

The Isle of Man seems to be setting itself up as a hub for bitcoin-related businesses.

Long renowned as a safe and compliant financial centre, the cachet of an Isle of Man base is highly desirable and in the wake of the FSC decision, two well-known bitcoin exchanges have already incorporated on the island, have established facilities and are recruiting staff.

Eric Benz of the UK Digital Currency Association has said that up to 15 further exchanges may now seriously consider basing operations on the island.

Many see the Isle of Man as a logical centre of digital currency activity and the excess of power and concentration of financial talent on the island make it a serious contender. – Robert Paul Davis

 

Small Independent States

With an 89 percent majority, the voters of Venice have elected to leave Italy. In practice, what this really means is that the Venetians plan to no longer send tax revenues to Rome.

Apparently, the Venetians, who inhabit the historical capital of one of humanity’s richest and most successful republics, wish to no longer subsidize the famously-corrupt bureaucrats in Rome.

In a 2004 interview, Hans-Hermann Hoppe spoke on the advantages of small independent (and wealthier) countries:

To the contrary, the greatest hope for liberty comes from the small countries: from Monaco, Andorra, Liechtenstein, even Switzerland, Hong Kong, Singapore, Bermuda, etc.; and as a liberal one should hope for a world of tens of thousands of such small independent entities. Why not a free independent city of Istanbul and Izmir, which maintain friendly relations with the central Turkish government, but which no longer make tax payments to the latter nor receive any payments from it, and which no longer recognize central government law but have their own Istanbul law or Izmir law.

Secession also promotes monetary integration and would lead to the replacement of the present monetary system of fluctuating national paper currencies with a commodity money standard entirely outside of government control. In sum, the world would be one of small liberal governments economically integrated through free trade and an international commodity money such as gold. It would be a world of unheard of prosperity, economic growth, and cultural advancement.

Ryan McMaken

 

 

THE SINGULARITY

NYT quote in 1997: “It may be a hundred years before a computer beats humans at Go”. Took 16 years. http://www.newyorker.com/online/blogs/elements/2014/03/the-electronic-holy-war.html – Balaji S. Srinivasan, Andreessen Horowitz

 

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