How He Built A Bitcoin Empire

How a simple college kid from Germany had his life turned upside down by the ‘rush for gold’ of the 21st century.

Marco is the 27-year-old CEO of the largest bitcoin mining company in the world, Genesis Mining. Trained as a mathematician, he dropped out of university to pursue his business idea. Today, Genesis Mining boasts 300,000 daily customers, and prides itself of having created one of the most sustainable and profitable business models in the Bitcoin Cloud mining world.

This talk was given at a TEDx event using the TED conference format but independently organized by a local community.

How He Built A Bitcoin Empire

Founded in 2013 by 27-year-old Marco StrengGenesis Mining stands as the largest bitcoin cloud mining company in the world. Boasting more than 300,000 daily customers, the startup has grown to become a global power that employs over 100 full-time staffers from all parts of the world.

Prior to developing the idea for Genesis Mining, Streng was on pace to become a mathematician, dropping out of college amidst his training to pursue his business idea full-time. Streng would eventually team up with two unlikely entrepreneurs and began incubating a concept that would eventually reshape how today’s digital generation makes purchases and accumulates wealth.

Boot-strapping from the start, as the growth of the company began to accelerate, venture capitalists began expressing interest in funding the startup, but the founding team decided against taking outside investment. Instead, the team turned to using profits to fuel growth, which is a very uncommon tactic for hyper-growth startups.

MARCO STRENG – CO-FOUNDER AND CEO, GENESIS GROUP

How He Built A Bitcoin Empire Coming from mathematics, Marco Streng became involved with Bitcoin by studying emerging and self-organising networks. He has taken part in the community since its earliest days and has invested in several Bitcoin related startups so far. He is also co-founder and CEO of Genesis Mining, the leading cloudmining service, which enables users to mine Bitcoin, Litecoin and other crypto-currencies in the cloud.

 

Bitcoin Where the Laws of Mathematics Prevail

In this talk, Andreas speaks about Bitcoin as a system of commerce that is the culmination of decades of research into cryptography and digital currencies, and how it achieves digital scarcity through proof-of-work and decentralized consensus. He argues that Bitcoin is powerful because it is where the laws of mathematics prevail to deliver robust security, financial autonomy, and censorship resistance.

This talk took place on July 7th 2017 at a Bloktex event hosted by the Wisma BeeOn Group in Kuala Lumpur, Malaysia:

Bitcoin Where the Laws of Mathematics Prevail

Andreas M. Antonopoulos

For the past 22 years, Andreas has advised hundreds of organizations on emerging technologies and trends, and developed business strategies for the efficient and effective use of technology. An early pioneer who saw the potential of the Internet in 1988, Andreas helped many businesses harness new processes to take advantage of the rapid developments in open source, open standards and open networks.

In 1990, Andreas started teaching on various IT topics in private, professional and academic environments. Andreas honed his speaking skills in front of audiences ranging in size from five executives in a boardroom to thousands of people in large conferences. With more than three hundred speaking engagements under his belt he is considered a world-class and charismatic public speaker and teacher.

Andreas is a generalist who is well-versed in many diverse technology subjects. With experience ranging from hardware and electronics to high level business consulting, he combines authority and deep knowledge with an ability to make complex subjects easy to understand. He often brings a fresh perspective to a topic with surprising insights and his ability to identify underlying principles and connections between different topics. More than 175 of his articles have been published in print and syndicated worldwide.

As an entrepreneur, Andreas has launched five companies, with great success as well as some important lessons. Some of those companies still flourish today.

Andreas is also an early pioneer in the open source software space. Starting with 386BSD in 1991 and then Linux in 1992 (version 0.95), he participated in the launch of the open-source phenomenon into mainstream use. He has contributed code to and project managed a number of open source projects.

Andreas is active in many important social causes and organizations using technology to promote free speech, open and transparent networks, open governments, social justice, human rights and citizen empowerment.

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Mon…

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bi…

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitc…

Bitcoin The New Gold

Top Wall Street strategist expects bitcoin to be the best asset through year-end

  • Fundstrat’s Tom Lee tells CNBC he expects bitcoin to be the best performing asset class through the end of this year.
  • Bitcoin has already more than tripled in value this year.
  • Lee expects growing institutional investor demand from the launch of bitcoin derivatives will help drive the digital currency’s price higher.

 

Bitcoin The New Gold

Bitcoin will likely outperform stocks and bonds the rest of the year, according to the first major Wall Street strategist to issue a report on the digital currency.

“I think bitcoin is an underowned asset with potential for huge institutional sponsorship coming,” Fundstrat co-founder Tom Lee said Wednesday on CNBC’s “Fast Money.”

“It has a lot of characteristics that are very similar to gold that I think will make it ultimately attractive as an alternate currency,” he said. “It’s a good store of value.”

Bitcoin The New Gold

Here’s Lee’s outlook on bitcoin given on the show into year-end:

Gold or bitcoin? Bitcoin?

“Yes.”

Would you rather own bitcoin versus a basket of U.S. stocks?

“Between now and year end it’s easily bitcoin.”

Will bitcoin be the best performing asset?

“Yes.”

Lee published a report in early July outlining the potential for bitcoin to rise above $20,000 and potentially reach $55,000 by 2022. Formerly the top stock strategist at JPMorgan and a perennial favorite of big institutional investors, Lee was also one of the few on Wall Street to predict that a Donald Trump win in last year’s election would cause stocks to rally, not fall like most had seen.

Lee sees another reason for optimism about bitcoin.

“Institutions have to directly buy the coin today through a broker, but both the CBOE and the CFTC have opened up options futures trading, so I think it’s going to grow in holdings,” he told CNBC.

In the last month, the Chicago Board Options Exchange said it plans to offer bitcoin futures by early next year, while the U.S. Commodity Futures Trading Commission approved a digital currency trading firm called LedgerX to clear derivatives.

Bitcoin For Beginners

Andreas M. Antonopoulos is a security expert, author, public speaker and entrepreneur who has become one of the most well-known and well-respected figures in bitcoin. He is the author of two books: “Mastering Bitcoin”, published by O’Reilly Media and considered the best technical guide to bitcoin and “The Internet of Money”, a book about why bitcoin matters. (See Bio Below)

This is the first part of a talk Andreas gave on February 22nd 2017 at the inaugural Bloktex Conference pre-event, hosted at Technology Park in Kuala Lumpur, Malaysia. In these videos Andreas breakdown the mystery of Bitcoin and is an ideal overview on Bitcoin for Beginners.

BitCoin For Beginners

Blockchain For Beginners

This is the second part of the talk Andreas gave on February 22nd 2017 at the inaugural Bloktex Conference pre-event, hosted at Technology Park in Kuala Lumpur, Malaysia.

Andreas M. Antonopoulos

For the past 22 years, Andreas has advised hundreds of organizations on emerging technologies and trends, and developed business strategies for the efficient and effective use of technology. An early pioneer who saw the potential of the Internet in 1988, Andreas helped many businesses harness new processes to take advantage of the rapid developments in open source, open standards and open networks.

In 1990, Andreas started teaching on various IT topics in private, professional and academic environments. Andreas honed his speaking skills in front of audiences ranging in size from five executives in a boardroom to thousands of people in large conferences. With more than three hundred speaking engagements under his belt he is considered a world-class and charismatic public speaker and teacher.

Andreas is a generalist who is well-versed in many diverse technology subjects. With experience ranging from hardware and electronics to high level business consulting, he combines authority and deep knowledge with an ability to make complex subjects easy to understand. He often brings a fresh perspective to a topic with surprising insights and his ability to identify underlying principles and connections between different topics. More than 175 of his articles have been published in print and syndicated worldwide.

As an entrepreneur, Andreas has launched five companies, with great success as well as some important lessons. Some of those companies still flourish today.

Andreas is also an early pioneer in the open source software space. Starting with 386BSD in 1991 and then Linux in 1992 (version 0.95), he participated in the launch of the open-source phenomenon into mainstream use. He has contributed code to and project managed a number of open source projects.

Andreas is active in many important social causes and organizations using technology to promote free speech, open and transparent networks, open governments, social justice, human rights and citizen empowerment.

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Mon…

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bi…

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitc…

Bitcoin Worth As Much As $55,000?

Top Wall Street strategist sees bitcoin ‘cannibalizing’ gold, worth as much as $55,000

  • Bitcoin has more than doubled in value this year and last traded near $2,540.
  • Widely followed strategist Tom Lee said in a report that his model shows bitcoin could rise to a range of $20,000 to $55,000 in the next five years.
  • The report is a first from a major Wall Street strategist on the digital currency

Bitcoin Worth As Much As $55,000?

 

First major Wall Street strategist weighs in on bitcoin, sees it worth as much as $55,000  

Fundstrat’s Tom Lee on Friday became the first major Wall Street strategist to formally lay out his views on bitcoin.

The digital currency could be worth as much as $55,000 by 2022, Lee said in a report titled “A framework for valuing bitcoin as a substitute for gold.”

“We believe one of the drivers [of bitcoin] is crypto-currencies are cannibalizing demand for gold,” Lee said in the report. “Based on this premise, we take a stab at establishing valuation framework for bitcoin. Based on our model, we estimate that bitcoin’s value per unit could be $20,000 to $55,000 by 2022.”

Bitcoin traded near $2,540 on Friday. The digital currency has more than doubled in value for the year, and high interest prompted a Goldman Sachs technical analyst, a team of Morgan Stanley analysts and Citi researchers to issue reports on bitcoin or the blockchain technology behind it in the last few months.

However, Lee is the first widely followed market strategist to issue a report dedicated to predicting bitcoin’s price. Lee also happens to be the most bearish strategist on U.S. stocks currently. He was JPMorgan Chase’s chief equity strategist from 2007 to 2014 before co-founding Fundstrat Global Advisors, where he is managing partner and head of research.

The strategist’s case for bitcoin is a basic supply-and-demand story, similar to the argument other proponents of bitcoin use when playing up its future as “digital gold.”

Gold’s market value of $7.5 trillion is exponentially greater than bitcoin’s $41 billion. But Lee pointed out the precious metal’s supply “is surging as mining soars to all-time highs,” while the number of available bitcoins is rapidly approaching its inherent 21 million-coin limit.

Bitcoin Worth As Much As $55,000?

“A simulation shows that this will slow even further to less than 1.5% growth by ~2020, meaning bitcoin supply will grow even slower than gold,” Lee said.

Bitcoin is also theoretically a better way to store value, proponents contend, since governments can easily decrease a currency’s worth by printing more of it.

The constraints on bitcoin’s supply and the potential worth of the digital currency mean there will be high demand for a limited product, driving up the price. Bitcoin has already surged from below $1,000 on Dec. 31 to briefly top $3,000 in June.

Lee also expects investors could look at bitcoin as a substitute for gold, and his model shows the digital currency could be valued at $20,300 by 2022. Adding more variables to the model puts the value of bitcoin in five years in a potential range of $12,000 to $55,000.

“In other words, substantial upside exists in owning cryptocurrencies here,” Lee said.

He also expects central banks will consider buying the digital currencies if the total market value tops $500 billion. Including bitcoin and its rival ethereum, the value of all cryptocurrencies hovers around $100 billion, according to CoinMarketCap.

“In our view, this is a game changer, enhancing the legitimacy of the currency and likely accelerating the substitution for gold (by investors),” he said.

Lee noted a Bloomberg news report that central banks have looked into the possibility of owning digital currencies.

In March, Federal Reserve Governor Jerome Powell cautioned in a speech about the potential challenges for a central bank to issue a digital currency, including privacy.

To be sure, digital currencies such as bitcoin often swing wildly and operate in unregulated markets. While the lack of regulation is what has attracted many buyers, many consider bitcoin the “Wild West.” Three years ago, Mt.Gox, the largest bitcoin exchange then, filed for bankruptcy and said it lost 750,000 of its users bitcoins and 100,000 of the exchange’s own.

The future of bitcoin is also in question. This summer, the digital currency could split if developers don’t agree on the same system to upgrade bitcoin.

Lee acknowledged bitcoin’s volatility in his report, noting that annualized bitcoin volatility is 75 percent, “substantially higher than gold’s 10%. But as noted, gold’s volatility approached 90% from 1971 to 1980 as the U.S. abandoned the gold standard — hence, we expect this to improve over time.”