CoinMetro 12th October 2018 AMA Notes

VIDEO ARCHIVE OF THE AMA (YOUTUBE, FACEBOOK)

IN THE NEWS

#1. Crypto hedge funds are reaching record levels this year

• Not too surprising.
• The fact that the crypto market has fallen and we’re sitting on lows we haven’t seen in “ages”, people tend to think that these things repeat themselves.
• “I don’t think this trend will continue for too long”.

#2. Google Ad Reveals Search Giant's “Feelings” On Bitcoin And Crypto

• Google released a video that poked fun at the electricity costs of mining. 
• Obviously these are first iterations, and it won’t be the model of future blockchains. 
• Thumbs ups to Google for having a good sense of humor.

#3. Crypto Exchange YoBit Starts Pump Scheme on Random Coins

• “They should add a jail time calculator”.
• This is bad for the industry as a whole. 
• This is definitely on the “dumb sh*t category.”
• Terrible for the industry because it gets negative press coverage, among other things. 
• Slap someone at YoBit for Kevin. 

#4. A War-Torn Country in Syria Will Use Crypto to Power an Anarchist State  

• Not a good thing.
• “I wish it wasn’t in the news.”

#5. Crypto Industry on ‘Brink of an Implosion,’ Researcher Says

• Cyclical demand.
• The word “researcher” is like the word “expert” in crypto. 
• “I don’t agree with the article”
• It’s a volatile market.

#6. PayPal for Crypto: Up to 25,000 Online Stores in Germany May Accept Digital Money in 2019

• They call this Digital Money. No.
• BAKKT, IBM, Starbucks - 10:17
• The use case for Bitcoin for transactions has already been proven. 
• It’s a PR stunt. 

#7. OmiseGO staff receiving death threats

• It leads to a Twitter post, and Kevin couldn’t find any additional info. 
• Hopefully they stop getting death threats.

#8. Bitfinex banking partner HSBC - will it last

• Bitfinex like every business has had issues throughout their business. 10:20
• They probably have a “do whatever we want” clause on their contract. 
• HSBC has a colorful industry of dealing with all kinds of industries. 

#9. Regulations in the U.K. could take another 2 years - says expert

• Another expert on the panel, right?
• The full brunt of regulation will probably take longer than two years. 

REDDIT QUESTIONS

Updates on the flash sale using fiat

• Probably not using fiat. 
• If there’s a flash sale, it’ll be held in Hong Kong and CM doesn’t have a cash license.
• Chatrooms live sometime at the end of the Q4. 

Day 1 Top 5 Coins Update

• Banking has changed a bit from vetting every token to not wanting to list any token.
• Banks to whatever they want.
• The team is in talks with two other partner banks in Germany, and there are some mechanisms in place that would allow for this to remain the same.

What is the minimum XCM qualifier for the Top Tier of the AirDrop family?

• The team is thinking around 50,000 EUR Value, as a tentative number. 

IBAN Wallet

• 1st iteration is through a banking partner. It’s a white label through the bank. 
• Negotiations are still ongoing, and we’re close to finalizing. 
• Licensing is not required with this method. 
• "I wouldn’t even swim to Malta."

Exchanges Voting

• It’s great for marketing, but not so good from a regulatory perspective. 
• We could pre-vet token projects to ensure they’re compliant, and let XCM hodlers vote.

Hansecoin

• Special guest appearance from Hansecoin team, Dr. Chris Kacher and Axel Jacob.
• Dr. Kacher has a lot of experience from the early days of the internet, working in the investment advisory industry.
• He also worked with Vitalk Buterin of the Ethereum network.
• Definitely worth the watch!

Bitcoin as a Savings Instrument

• CM will have a “dust” converter, any small amounts of crypto can be bundled together and exchanged.
• This may be possible with the debit card product, but we have to verify that partner banks support it. 

Why does the Estonian site say that your project will launch in Spring 2019?

• The FULL SUITE of products are scheduled for Spring 2019.

CoinMetro Podcast

• We’ll be switching from AMAs to Podcasts soon. 
• The team will be having more guests.

CoinMetro Updates

• No plans to move away from Estonia
• XCM: As a utility token, there is no reason to mint the token until the platform is ready. 2 to 3 days before the platform is launched, we’ll mint, and distributed the moment the exchange is live. 
• Competitors- there are a few competitors that are acquiring licensing in Estonia. 

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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!

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