CoinMetro 13th July 2018 AMA Notes

CoinMetro 13th July 2018 AMA Notes


VIDEO ARCHIVE OF THE AMA (FACEBOOK)

IN THE NEWS


#1. Ethereum founder critical on centralized exchanges

  • Kevin agrees that the transformative power of crypto is decentralization. 
  • 90% of ICOs get their money in a private sale. 
  • Regulation is important, in part due to all of the crime going on in the world. 


#2. On the ICCO

  • All token sales are securities, in Kevin’s opinion. 
  • There’s no asset in the world currently that can start as as security on Monday, and turn into a utility token on Wednesday. 
  • Giving shares has many tax and legal implications, and adding things like voting rights adds even more regulatory hoops. 
  • It’s a great idea on paper, but several points of ICCO will be difficult


#3. Trading BTC without a license, local BTC trader sent to prison.

  • This is a case of ridiculous regulation; of a judge applying regulation without truly understanding. 
  • We’re all adults, and you must understand what your risks are. 
  • If you break laws, you’ll suffer consequences.


#4. This week’s hacking victims: Bancor and MEW.

  • MEW has been “hacked this week” for ages. This is due to phishing websites mostly in regards to MEW’s popularity. 
  • Buyer beware, please be careful online and make sure you’re checking the URL. 
  • The CoinMetro team has around 30-40 docs to ensure that they understand how to engage protocols for security and protection, with a focus on preventing social engineering. 


#5. Swiss stock blocker "SIX" starting a digital asset exchange

  • This is good news, partly because Kevin thinks it won’t happen “tomorrow”. 
  • Anybody that brings maturity to the market is a good thing.
  • If we had 400 licenses, we’d be the most valuable exchange in the world.
  • You’ll begin to see a trend starting. 
  • The tokenization of real assets is going to be a great challenge
  • Can you imagine a utility stock? You buy it your favorite stock, say Nike, and you can go into a Nike store and buy shoes with that stock if you want to liquidate it. 
  • You can separate crypto and blockchain, and all the banks are waiting on regulation. 


#6. Binance starting a crypto bank on Malta.


  • Kevin read the licenses and he’s using “license” as loosely as possible.
  • The licenses are horse excrement. 
  • Malta has been courting Binance. 
  • They’ve created an organization in the government who “wrote” these three laws.
  • There’s only one bank in Malta that will get into this game. 
  • They’re going to have to go through the MFSA. 
  • They won’t be able to pass the fit and proper tests


#7. BTC bull run coming soon in light of news of ETFs?


  • We’ve had ETN’s and ETF’s and we’ve had action on Bitcoin and Ethereum for over a year now. 
  • There’s no correlation between a new synthetic product and increase in value. 


ADDITIONAL NOTES

"The problem with most platforms is that you can't have multiple limit orders: CM works on the solution for this which will let you put limit orders on both sides, a buy/sell at different points."

While the product is not out yet, there is no immediate concern about a “crash and burn” of CoinMetro. 


CoinMetro Operating Runway

  • There are funds enough for funding the company for 18 months
  • For a company that hold licenses and has an understanding of the market and has a place in it, there are potential investors in CoinMetro.


Price Aggregator Network 

  • All a price aggregator is, is another matching engine- a book. 
  • We’re going to bring on exchanges to be part of the ECA. (European Crypto Association)
  • Everybody should’ve had this already.
  • The entire market is OTC, when you have a market with no centralized exchange, trades are OTC. 


When is the drop deadline?

  • CM has access to capital that could fund the company for another 1-2 years if that were the case.
  • There is investor interest in CM out there. 
  • CM has around 18 months of runway. 


What do you think about ICO express used for crowdfunding?

  • The team will vet everyone who uses it. 
  • You need to have people that are experienced, you need to pass background checks, and real-world experience. 
  • The team doesn’t need to be large.
  • Kevin would love NGOs there as well. 


Custodial Services

  • Triparte, Bitgo
  • Custodial arrangements for top 5 alt coins through uk regulator. 
  • Custodial solution for governments being prepared in Tallinn, CM is in the talks. 


Do you set reasonable standards for the platform launch?


  • When you set too high standards, you can’t do the work.
  • The engine itself has to be near perfect, as it’s the core of the business and if things go awry on that end it can be very bad. 
  • The front end can be more forgiving, but the team will try to make sure that it’s something they can be proud of building. 


What’s the Ambassador Questionnaire entail?


  • We’ll want to vet you and ensure why you’re interested in the Ambassador program as well as your qualifications. 


The team will create an e-mail address to have coins inquire about being listed on CoinMetro


We’re on schedule for end of Q3. 


Kevin sees CoinMetro becoming a multi-asset service. 

Possibility of another flash sale:

  • There is no final decision before going live about a flash sale
  • Speculating, Murcko adds, a 50:50 chance but only if XCM is immediately tradable
  • If there is one, it will be an internal one, not a public flash sale.


__________________________________________________________________________


Well, that's it for this week's AMA with CoinMetro Founder Kevin Murcko! Please join us next week on CoinMetro's Facebook and YouTube Channels 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.








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