CoinMetro 10th August 2018 AMA Notes

VIDEO ARCHIVE OF THE AMA (YOUTUBE)

IN THE NEWS

#1 Intercontinental Exchange Announces Bakkt, a Global Platform and Ecosystem for Digital Assets

• Not too much news here, but what does it mean for CoinMetro in regards to market adoption, utilization, and pulling clients?
• When you think of an exchange, you think of one place where there’s a centralized price for a central asset, usually a stock, then you have brokers who sell that stock.
• We call ourselves an exchange right now, but that term is used because it’s easy to understand.
• We want to be number one in different regions of the world before going global.
• As usual, it’s overall good news for the industry.

#2 SEC delays decision on Bitcoin ETF, price takes another plunge.

• The launching of ETFs will not correlate to higher prices when you really talk from a foundation standpoint. The news release will push retail investors to buy, which will give the market a bump in price. 
• (Regulators gotta delay! Ed.)

#3 Bettergram, crypto version of Telegram with price checker integrated. CM to trial this?

• CM is interested in whitelabeling this and testing to see if it’ll work with the platform. 
• Community is going to be a big piece of this puzzle!

#4 Opera Integrates Crypto Wallet Into Its Desktop Browser

• Chrome already has MetaMask.
• Tech companies gaining adoption isn’t a huge risk, since it’s technical not financial.
• It’s not necessarily newsworthy, but any good news about crypto adoption is good!

#5 SALT expanding to more US states

• Story about a company that’s expanding, broadening horizons. 
• In the US there’s no regulation on a national level, when it comes to cryptocurrency. It’s all state-by-state at this time. It can be quite cumbersome and very expensive.
• It’s a unique use of crypto. (Kevin on SALT- Ed.)
• Hats off to SALT for jumping into the loan business with crypto. 

#6 South Korea: Police Raid Firm Whose Alleged Crypto Scam Promised Investors Shipwreck Gold

• Good on the police. 
• When there’s good actors, it’s a good idea for them to get press. 
• When it’s bad news, and it appears nothing happened to them, it sheds a bad light at the entire industry. 
• However, when a bad actor gets caught and gets punished, it’s a good thing for the industry as a whole.

#7 MLB Players Association Inks Partnership with Crypto Collectibles Startup

• Crypto collectibles are hype driven 
• It’s unique and cool, it’s probably still in the fad realm, but it could take off.
• CoinMetro is definitely looking into, as it’s great for branding

#8 Expanse Co-Founder Says Binance Wanted 400 Bitcoin (BTC) To List Token On Exchange

• CEO Binance, very smart guy on the technical standpoint.
• Binance is lacking in the regulation field. 
• Lots of wash trading, Binance makes money on listing fees. 

#9 Coinbase Trading Limits Boosted

• Initially they didn’t offer it because it was more of a security risk. 
• We’ll have it from day one. 
• Deposit and Withdrawals can have a slight delay (of minutes) to verify. 
• Good on Coinbase, progressing with the tech.

“If you’re sitting waiting for the perfect time in life to do anything in business, you’ll never do it.” - Kevin Murcko, CEO, CoinMetro

REDDIT QUESTIONS

Why have another flash sale?

• Kevin wholeheartedly believes in this business.
• You will always need capital when scaling a business. 
• From an ICO perspective the money is free. 
• From a commercial standpoint, there is great reason to hold another flash sale. 
• Dumping will happen no matter flash sales occur or not. 
• Some people are going to dump because they just want a quick ROI
• If you’re a seasoned investor and you’re looking for the long term, what you’re looking for is for the company to make more money. 
• The decision to make a flash sale is still up in the air, and it may not even be possible.
• As far as vesting is concerned, there will be some adjustments. 
• Exchanges don’t make a lot of money on exchanging. 
• If you’re only looking at the short-term, you will only hurt yourself. 
• The number one goal is to make the company more valuable. 

Does CoinMetro have any marketing plans for China & Russia?

• YES!
• We’re looking for professional ways to do this and maintain that professionalism. 

What do you like/dislike most about the current state of crypto? 

• From a non-regulatory perspective, I like the decentralization and shift of power potential of crypto. 
• Putting on the regulation hat, we’re on the cusp of the change in how people think of money. 
• We can really change the world.

Are you concerned about launching CoinMetro during a bear market?

• Once we go operational the price of ETH is almost meaningless. 
• CoinMetro makes money on volumes. 
• We have financial commitments if we need cash infusions.

If there’s a flash sale, can US contributors purchase?

• Probably not, unless you’re accredited. 
• You would not be able to acquire more during flash sale if you’re unaccredited US contributors.

When Margin Trading?

• Once we launch, but there’s no ETA at the moment. 
• There are some risky elements that need to be ironed out, when it comes to risk management.
• Margin trading is VERY important to CoinMetro.

What are the fees and limits for the pre-paid card?

• That depends on the providers we partner with. 
• Limits probably 5-10k EUR per month, but it depends on the provider.
• The team is working with two companies, one is very expensive and they’re looking at their options.

Will we meet developers? See some of the code?

• We will not release proprietary information
• We’ll release more once the platform is live, and once it makes sense. 

When live beta?

• By the end of September at most. Still on schedule. 

Any thoughts on Elon Musk wanting to take Tesla private?

• The bigger your audience, the less forgiving your audience. 
• Kevin doesn’t have a huge audience so he can go off the rails, so to speak. ;D
• He gets away with what he says because he’s a media darling and the SEC likes him. 

COINMETRO UPDATE

HUGE NEWS!

• CoinMetro has been officially on-boarded in a bank in Estonia, for client funds and operational funds in the SEPA zone, in Euro. 100% on boarded and green lit.
• Also the ability to have an acquiring account to accept credit and debit card deposits, worldwide.
• By the end of September, there’s a liquidity provider that we've dealt with for years in the FX space that will be providing to us on a professional platform the five majors that we're starting with, BTC, BCH, LTC, ETH, XRP against EUR, USD, GBP, JPY. 
• We will have up to 500 BTC in liquidity on every single pair, on day 1 of live trading.
• The team already has funding available via wire transfer and other mechanisms for all of the currencies that will be available at launch. 
• Clients will be able to deposit, trade, and withdraw in a multitude of fiat currencies backed by up to 500 BTC worth of depth in the book at any one time.

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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.