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EXANTE: Practical aspects of algorithmic trading. Bitcoin hedge fund. SSE Riga lecture 23.01.2014. Part3.

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Lecture of Sergey Troshin, Ph.D., Director at EXANTE, covers history, technology and market of bitcoin, an innovative payment network and a new kind of money, which is usually called cryptocurrency.
The recording is available at the following link: https://www.youtube.com/watch?v=8JToXHeqElA. Enjoy and share the video!

Published in: Economy & Finance
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EXANTE: Practical aspects of algorithmic trading. Bitcoin hedge fund. SSE Riga lecture 23.01.2014. Part3.

  1. 1. Practical aspects of algorithmic trading. Bitcoin hedge fund. Gatis Eglitis, Managing Partner Sergey Troshin, Ph.D., Head of IT Strategy and Operations Part 3: Bitcoin fund
  2. 2. EXANTE 1. 2010 - EXANTE ATP & BO, strong IT focus 2. 2011 - Maltese brokerage licence 3. 2012 - Hedge fund platform & bitcoin fund
  3. 3. The use of money is all the advantage there is in having money. Benjamin Franklin
  4. 4. Money 1.Durable 2.Portable 3.Fungible 4.Intrinsic value 1.Store of value 2.Medium of exchange 3.Unit of account Aristotle IV BC W.S. Jevons XIX AD
  5. 5. Money history 1. before XI BC - barter 2. XI BC, China - bronze knives and spades 3. VI BC, Lydia - electrum coins 4. XI AD, China - paper money 5. XXIX AD, Europe - gold standard 6. 1944, USA - Bretton Woods system 7. 1971, USA - fiat currencies
  6. 6. Value? FAITH
  7. 7. Value! FAITH
  8. 8. Digital currencies 1996 1998 2000 2008
  9. 9. Businesses Bitcoin 2008 SaToshi NakaMoto http://bitcoin.org/bitcoin.pdf Crypto currencies Exchanges
  10. 10. Technology Public-key Cryptography Open- sourceDecentralization
  11. 11. Technology http://visual.ly/bitcoin-infographic 1PC9aZC4hNX2rmmrt 7uHTfYAS3hRbph4UN
  12. 12. Mining
  13. 13. Market 7 day average from http://bitcoinity.org/markets/list 4 day average from http://blockchain.info/pools
  14. 14. Market Quaterly average from http://blockchain.info/charts
  15. 15. Risks Legal Technology Market Gov’t regulation 51% attack Manipulation Undefined status Scalability Volatility Anonymity DDOS attacks Clearing http://bitcoin.it
  16. 16. State of the art Money Tulips Fiat Gold Bitcoin Store of value * **** ***** **** Medium of exchange **** **** *** ***** Unit of account * **** ** ** http://bitcoin.org
  17. 17. Future Minin g Technology Exchan ge Busine ss Commodity Debts & Loans Currency Pension funds Derivatives
  18. 18. 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
  19. 19. Questions? Gatis Eglitis, Managing Partner +356 2015 0000, ge@exante.eu 19
  20. 20. NEXT GENERATION PRIME BROKER

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