Live Blogging Canaccord Blockchain Day

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anthony [12:47]
Live blogging the Canaccord thing here

[12:48]
Met some Bitcoin Teller Machines up front, CEO is a friend.
Apparently they use Gemini exchange and is despirate to shorten the cash-to-bitcoin time because it takes 5 days for them

[12:49]
He is talking to some miners to get fresh coins to reduce transaction fees

[12:49]
Now Hive is presenting

[12:49]
Some insane amount of GPU power in Iceland and Sweden

[12:51]
No sign of Michael

[12:51]
But will look for Christine since she just spoke

[12:53]
Now Hive guy is talking about some basic economics of mining. He has a different interpretation of validating blocks than I do

[12:53]
In his world only miners do validation

[12:55]
Hive has 44MW of power consumption

[12:56]
He just talk about not able to forecast

[12:56]
The price and difficulty of mining in the future

[13:01]
Hive recognize revenue when coin is mined, then mark inventory to market for financial reporting

[13:05]
"We have no AML requirements. Buyers who deal with us do not need to do AML checks"

[13:08]
Now a whole bunch more miners are in a panrl

[13:08]
Hive, Hyperblock, Atlas Cloud, Blockvest, Epic Blockchain, Fortress Blockchain

[]
One of them is an ASIC chip designer


anthony [13:38]
I left to talk to this guy Alex Sterk who started UBIQ

[13:39]
Which is a clone of Ethereum

[13:39]
So you get smart contracts for much less processing fee


anthony [13:45]
Some guy calls himself a Bitcoin OG

[13:46]
Now they are talking about transaction fees

[13:46]
It will be apparently the first time today they talk about Lightning Networks


anthony [13:54]
Lol guy sitting next to me has coinmarketcap opened

[13:57]
Finally they are talking about the options and custody issues

[14:00]
Blah blah

[14:00]
ETF 's are coming, that's a lot of sentences to day that

[14:02]
"Bitcoin is highly liquid already" he is trying to get an ETF that's GBTC based

[14:02]
Dude is GBTC

[14:03]
They apparently did a dividend from selling  Bitcoin Cash fork

[14:03]
$200 million's worth

[14:04]
"what would happen when all Bitcoin is mined?"

[14:04]
Answer: the transaction fees will make up for it

[14:05]
Hyperblock earlier disclosed that they make almost half their revenue from fees

[14:08]
Gray-scale guy: we offer 3 long only trusts

[14:08]
Bitcoin, Ethereum Classic, Zcash

[14:09]
You can buy directly from them as accredited investor

[14:09]
One year holding period on ETC and ZCH trusts

[14:10]
May 2018 they will try to take ZCH

[14:10]
Public

[14:12]
They will offer 7 NAV based crypto trusts

[14:12]
Then one basket
-----

[14:14]
He doesn't think Bitcoin is either store of value or transaction network

[14:14]
Its both

[14:15]
Yep, Bitcoin OH's can be caught wearing a suit or a tir

[14:16]
Coin square is an exchange, Einstein is up next

[14:17]
Coinsquare has 55 employees in Toronto

[14:20]
They said more and more women are opening accounts, though he didn't give a figure

[14:22]
Coinsquare has crazy EBIDTA

[14:23]
Looking to grow internationally

[14:24]
Insane amount of fees

[14:24]
Deposit , withdrawal, spread, commission

[14:24]
Wtf

[14:25]
They offered a Coinsquare Wealth product

[14:26]
For >$25k clients

[14:26]
They get personal account manager

[14:27]
They have 100,000

[14:27]
Customers

[14:28]
New site redesign of their app increased conversion by 400%

[14:28]
Omg they make so much money

[14:29]
20% active users

[14:30]
Coinsquare doesn't think of itself as an exchange

[14:30]
They think they are a financial institution

[14:31]
Coinsquare doesn't use cloud

[14:31]
Not even CloudFlare

[14:32]
CEO - Cole Diamond

[14:32]
They have their own mining co

[14:33]
6473008590

[14:33]
cdiamond@coinsquare.io

[14:34]
Starting next month they will be adding ripple then one coin per month

[14:34]
They bank with secret

[14:34]
:p

[14:35]
They will get into ETF

[14:35]
And has hires people to make financial products

[14:35]
Crap I hope they are hiring

[14:36]
They have to find liquidity

[14:36]
From other exchanges

[14:37]
Because they have $4MM / day

[14:37]
Trading demand (edited)

[14:38]
Ok I found Mike and Christine!

[14:39]
@gordon  they are at the back of the room

[14:39]
----

[14:39]
Next up is OTC Exchange

[14:42]
Very geeky exchange

[14:42]
Message for institutional trading

[14:45]
They claim to have ability to eliminate counter party risk

[14:45]
Which I didn't think you need additional tech

[14:47]
"multi dimensional blockchain"

[14:48]
These guys .... Lots of jargon

[14:50]
Anyway they are looking more and more like Ripple (edited)

[14:50]
Except they claim to be faster and no XRP


anthony [15:01]
Einstein is up

[15:02]
Lol my question to OTCNX took up the entire question time

[15:02]
"why does Superman trade at night?

[15:02]
Crypto-nites

[15:04]
"we have lots of Fintech experience" bank experience, etc

[15:04]
Profitable since day 1

[15:05]
Nice

[15:05]
Wtf is CAMLO?

[15:06]
Doing a lot of in person verification

[15:07]
Chief Anti money laundering officer (edited)

[15:07]
Lol

[15:08]
They charge 10% deposit fee and proud of it

[15:09]
Holy f--k  1% commission on top

[15:09]
30,000 users

[15:09]
$100k profit per day

[15:10]
OMG

[15:10]
They have branches!

[15:10]
Apparently their customers are older than expected!

[15:11]
Getting out of Gold and into Crypto

[15:11]
F--k yeah!

[15:11]
Taking advantage of old people

[15:12]
$14 MM revenue last month

[15:12]
Omg

[15:12]
No churn

[15:13]
24/7 customer support bilingual

[15:13]
Once again they don't use cloud / venders

[15:14]
They built almost everything

[15:14]
Themselves

[15:14]
With such fees and margins, finding liquidity is easy

[15:15]
They are one of the few companies that can do credit card deposit and withdrawal

[15:16]
They claim to have API's

[15:17]
Haha they sell Christine

anthony [15:33]
Anyway @thomasbbeattie we made contact with Leighton their operations guy

[15:33]
He said we have a corporate account

[15:34]
So I'll find him again


anthony [15:39]
Now panel is talking about enterprise blockchain dev

[15:43]
"if at the end of the day, you just rebuilt your business on blockchain, you are missing the point"

[15:44]
"If all you want to be a centralized rent seeker, someone will build around you."

[15:45]
Now some guy is talking about Bell hack

[15:45]
He is talking about encryption at rest I think


anthony [15:58]
Snoozed out on enterprise stuff

[15:58]
Now Mogo is up

[15:59]
They are promoting a privacy protection app

[16:00]
MogoCrypto this quarter

[16:00]
If they make as much money as Einstein and Coin Square , I think I need to buy their stock

[16:01]
They are getting into mining too

[16:04]
Postmedia / Mogo deal is sooooo weird

[16:04]
CAC <$20

[16:05]
500k users

[16:05]
$40MM cash balance, fwiw

[16:14]
They say they are not a miner but they do a lot of mining

[16:14]
Symbol KASH on TSXV

[16:15]
Looking to do 40MW of mining next year

[16:16]
-----

[16:19]
This is going to be lost in the sea of notes: people are quitting their jobs to work on Lightning Network

[16:20]
https://twitter.com/jb55/status/955907586980630528
William Casarin ⚡@jb55
I'm stepping down as CTO at Monstercat to work on the Lightning Network full time. Exciting times!

Twitter
Today at 12:58 PM

[16:21]
-----

[16:21]
Anyway HashChain guy is talking about how he has to mine multiple chains

[16:23]
I wish I had his map of where the cheapest electricity is n the world is

[16:23]
The HashChain guy thinks he can use his mining power to do E-discovery

[16:25]
Apparently there is an ICO movie on Netflix

[16:25]
And the HashChain guy is in it

[16:26]
DMG Blockchain is up now

[16:26]
They had a deal with Mogo

[16:26]
DMGI symbol

[16:27]
On TSX V

[16:30]
These DMGI guys are talking about permissions blockchains

[16:30]
They just jumped the shark for me

[16:31]
They think it makes them money to run other people's private chains

[16:32]
They have a Japanese mining pool

[16:32]
They got paid $3MM to mine someone's blocks.

[16:33]
He doesn't think people can go to home Depot to make a mining data center

[16:35]
They sell analytics

[16:35]
And forensics

[16:35]
50% of all blockchain trading happens in Japan

[16:36]
Its a land grab right now, Mining

[16:39]
He said miners are not regular hardware so you need expertise

[16:44]
Bitcoin is so profitable the power cost doesnt matter anymore

[16:44]
So its a matter of actual power available

[16:44]
And how much up time you have

[16:46]
Apparently there are provincial programs that offers subsidies to power

anthony [16:51]
Next up Crypto Global
[16:51]
Love their video of data center being built
[16:55]
They spend 50% of income on more mining power
[16:56]
And diversify 25% of their earnings
[16:57]
It appears New Foundland is the cheapest
Province in Canada for power
[16:58]
Hardware return rollover is 5 months
[17:00]
Hey built their own wallet
[17:01]
Symbol: CPTO
[17:01]
TSXV
[17:01]
They will be spamming ads on radio and internet

anthony [17:07]
Yay the ICO panel I've been waiting for is finally up
[17:08]
IComply is a noticible absence
[17:09]
Interesting that Lisa calls ICO non-dilutive financing
[17:10]
I think giving up your future revenue is an even bigger hit (edited)
[17:13]
Dude claims that most blockchain activities is Steem and Bitshares
[17:13]
I think he is being trumpish
[17:16]
ICO is mostly junk
[17:16]
Duh
[17:19]
Lisa thinks we haven't found the ceiling on ICO's yet
[17:21]
This Blockchain Intelligence guy is creepy (edited)
[17:22]
She thinks a new wave of Bitcoin based ICO's are coming
[17:23]
Lol "merge mine" "side chain"
[17:23]
Good thing the crowd is thining out
[17:27]
Price prediction $30k
[17:28]
Bitcoin is the gateway drug
[17:28]
To get into Tokens
[17:29]
Guy is saying that using Bitcoin is like commuting in a tank
[17:29]
This is the exeBlock guy (edited)
[17:31]
Lol people are using Bitcoin history to predict price at the end of the year