EXANTE: Practical aspects of algorithmic trading. Bitcoin hedge fund. SSE Riga lecture 23.01.2014....

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  • 1.Practical aspects of algorithmic trading. Bitcoin hedge fund. Part 3: Bitcoin fundGatis Eglitis, Managing Partner Sergey Troshin, Ph.D., Head of IT Strategy and Operations

2. EXANTE 1. 2010 - EXANTE ATP & BO, strong IT focus 2. 2011 - Maltese brokerage licence 3. 2012 - Hedge fund platform & bitcoin fund 3. The use of money is all the advantage there is in having money.Benjamin Franklin 4. Money 1.Durable 2.Portable 3.Fungible 4.Intrinsic valueAristotle IV BC1.Store of value 2.Medium of exchange 3.Unit of accountW.S. Jevons XIX AD 5. Money history 1. 2. 3. 4. 5. 6. 7.before XI BC - barter XI BC, China - bronze knives and spades VI BC, Lydia - electrum coins XI AD, China - paper money XXIX AD, Europe - gold standard 1944, USA - Bretton Woods system 1971, USA - fiat currencies 6. Value?FAITH 7. Value!FAITH 8. Digital currencies 1998 200819962000 9. Bitcoin2008 SaToshi NakaMoto http://bitcoin.org/bitcoin.pdfExchangesCrypto currenciesBusinesses 10. Technology DecentralizationPublic-key CryptographyOpensource 11. Technology 1PC9aZC4hNX2rmmrt 7uHTfYAS3hRbph4UNhttp://visual.ly/bitcoin-infographic 12. Mining 13. Market7 day average from http://bitcoinity.org/markets/list4 day average from http://blockchain.info/pools 14. MarketQuaterly average from http://blockchain.info/charts 15. Risks LegalTechnologyMarketGovt regulation51% attackManipulationUndefined statusScalabilityVolatilityAnonymityDDOS attacksClearinghttp://bitcoin.it 16. State of the art MoneyTulipsFiatGoldBitcoinStore of value**************Medium of exchange****************Unit of account*********http://bitcoin.org 17. Future Minin gExchan geTechnologyBusine Debts & ss Loans Pension fundsCommodity Currency Derivatives 18. Although some of the enthusiasm for bitcoin is driven by a distrust of state-issued currency, it is hard to imagine a world where the main currency is based on an extremely complex code understood by only a few and controlled by even fewer, without accountability, arbitration, or recourse. Francois R. Velde, senior economist (Chicago Fed Letter) Yep, sounds like the dollar. Reddit commentor 19. Questions? Gatis Eglitis, Managing Partner +356 2015 0000, ge@exante.eu19 20. NEXT GENERATION PRIME BROKER