CoinMetro 19th October 2018 AMA Notes



AmaZix Staff



Kevin's back for another round of AMA questions, asked by you: Passengers on the CoinMetro express!

VIDEO ARCHIVE OF THE AMA (YOUTUBE, FACEBOOK)





IN THE NEWS





#1. Austria to use Ethereum Blockchain in €1Billion Bond Issuance

They’re not using Ethereum to price the bonds or tokenizing them, rather using the blockchain to track the bonds.

It’s a good case for the blockchain!

This is a government organization trying to find the most benign use case for blockchain.

The actual tokenization of bonds would be much more interesting, although a new blockchain may be necessary as Ethereum is currently too slow.





#2. Bitcoin Surges to $7,500 on Bitfinex Due to Tether Implosion, Real Price $6,700

Obviously Bitfinex did a lot of Tether volume.

This is all OTC- that’s why the word exchange is kind of a misnomer.

An exchange has a centralized pricing hub.

With the shakeups, a lot of people sold Tether to BTC.

There is no price discovery, and in a normal marketplace this wouldn’t happen.





#3. AARP Tells Retirees that Bitcoin is Mainly Used by ‘Bunch of Criminals’

Nobody knows who invented Bitcoin, whether it's one person or a bunch of them.

What they’re perpetuating is that the initial use cases were involved in some criminal activity.

All the alphabet agencies WISHED that more nefarious actors used crypto.

It shows you not just the immaturity of the crypto industry in general, but how people look at the industry.

They make up nonsense and they print it.





#4. Major Exchanges are Delisting Coins as some Platforms Begin to Falter

Regulation is tightening and at a faster pace.

(Regulation seems like the Agents in the Matrix chasing Neo)

“2019 is going to be the year of regulation” — Kevin Murcko

“Easiest way to be compliant quickly, is to dump the sh*t coins.”





#5. Barclays puts its cryptocurrencies project 'on ice'.

Barclay’s has probably stopped work on 50 different projects.

Big banks invest a lot of money into R&D.

Most of these projects don’t make it topside.

Barclay’s is so vocally against crypto, but they’re still researching it.





#6. Fifth Largest Crypto Exchange Huobi Lists Four USD-Backed Stablecoins, Following OKEx

“Stablecoins are a bandaid”.

Exchanges can’t get fiat licenses and use this as temporary measure.

There are uses for stable coins on the backside for liquidity reasons.

Ripple is the closest thing for the use case of needing fast settlements.

(Kevin’s take on stable coins is definitely worth a watch! Ed.)





#7. Bakkt COO: Crypto Market Is Shifting, Institutions Will Enter

No news here- the market has to adapt or it dies.

Either it shifts, and institutions come in, or it dies.

If you’re a believer of blockchain, that’s the only option.





#8. Coinbase Opens Office in Ireland as Part of Brexit Contingency Plan

In the US, there have been two cases where the CFTC has spoken about blockchain.

Coinbase has the money, but they can’t apply it until they need the license.





#9. Cryptocurrency Needs More Regulation than other Commodities: Fmr. CFTC Chair

When you look at other asset classes, they’re classified as specific asset classes.

Assets are also classified differently based on different jurisdictions.

We’ve never had an asset that can be many things at once.













Airdrop, Airdrop Family.

“Can’t clarify details on Airdrop family yet, because we’re still working them out.”

There was some confusion in regards to people that didn’t participate in the token sale.

Potential solutions.





CoinMetro micro investing?

We have talked about having a “dust button”, which allows you to convert small amounts of crypto into other tokens simply.

Having that transfer into an ETCF or TAM could be an option.

This was brought up at one of our meetings a few weeks ago.





Debit Cards US/CAD

It's very onerous to get debit cards.

There are providers that will provide other currencies, but in most cases the issuance is in the EU only.

At first it’ll be the Euro and eurozone only.

We have to grow to see it happen, as it’s quite an onerous process.





Any reason Bitcoin Cash isn’t traceable in the beta anymore?

No specific reason, the team is still developing the platform and quirks may occur.





Ripple Updates

With some of our liquidity providers, we need to settle balances quickly and Ripple lets you do this.

The team will have an update in the following weeks, in regards to both Ripple and XRapid.

This will open up a lot of good relationships with banks, which is great news for CoinMetro.





CoinMetro Timeline

We don’t have investors, we have contributors. We’re not a security.

There have been delays, but the product’s quality is the end goal, in addition to regulatory compliance.

Our token model is solid- one that is directly correlated to demand and volume.

CoinMetro is not well known yet, in part because we’re not live and the risk of our reputation because of this, is very low.

“We appreciate your support, as many of us have very big stakes into the business as well.”





CoinMetro Academy

The first lessons have been completed.

The next step is to get the GUI for the Academy ready.





Beside Hansecoin are there more projects lined up for the ICO Express?

Yes, we’ll be releasing more details in the future.

Our vetting will be difficult.





FXPig, TAMs, ETCFs

FXPig was indeed designed to be small and niche.

TAM is PAM for tokens.

















AMA LIVE QUESTIONS:





“I think Binance will fail” - Kevin Murcko

We will be reaching out to US regulation agencies.

LATAM/Asia: CM has an office in Mexico. Asia/Pacific, we’re looking at Australia.

API details - we have a websocket API, it’s done but not documented yet.

Fiat Currencies for launch: EUR in the SEPA zone, credit cards that will allow worldwide access to EUR/USD/GBP at launch.

CM/FXPig merger - there’s no planned date at the moment.













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Well, that's it for this week's AMA with CoinMetro Founder Kevin Murcko! Please join us next week on CoinMetro's Facebook at 2PM GMT for another round and make sure you submit your questions to the CoinMetro Subreddit!

As always, we're available to answer any questions you may have on our Telegram Group 24/7.







