Expert Briefing: State of Bitcoin 2015 презентация

State of Bitcoin 2015

State of Bitcoin 2015

01/01/2013 01/02/2013 01/03/2013 01/04/2013 1/05/2013 1/06/2013 1/07/2013 1/08/2013 1/09/2013 1/10/2013 1/11/2013 1/12/2013

State of Bitcoin 2015

State of Bitcoin 2015

Source: CoinDesk Bitcoin Price Index, daily data collected at 00:00 UTC
www.coindesk.com/price

31st Dec Close $319.70
2nd Mar $258.88
YTD Δ -19.0%
2nd Mar Market Cap $3.6bn

2015 YTD Price Summary

High (6th Jan) $951.39
Low (30th Dec) $309.87
2014 Δ -67.4%
Average $526.92
Median $501.63

2014 Price Summary

Payment Processing

Wallets

Mining

Financial Services

Exchanges

Infrastructure

Universal

Source: CoinDesk

Mining companies go bankrupt

Aquifer LLC

Bitcoin mining firm CoinTerra files for chapter 7 bankruptcy

Hong Kong's MyCoin disappears with up to $387 million

Note: Numbers of stories obtained by searching ‘bitcoin’ on respective publishers’ websites, Q1 2015 number of news coverage calculated by run rate

Sources: respective publishers’ websites

Bitcoin Core 0.10 gives developers simplified network consensus access

Blockchain number of wallets passes 3 million

As Big as the PC and Internet?

“

”

State of Bitcoin 2015

$75m

$30.5m

(Series A) October 2014

(Series C) Jan 2015

Source: CoinDesk (www.coindesk.com/bitcoin-venture-capital/)

State of Bitcoin 2015

Sources: CoinDesk (www.coindesk.com/bitcoin-venture-capital/), CrunchBase

The Universals

2013

2014

Source: most popular items purchased through Purse.io by November 2014

Trashbags

Coffee Grinder

Infant Formula

Home Goods

Bluetooth Speaker

Digital Camera

Playstation

Consumer
Electronics

**The revenue is Time Inc. FY 2013 revenue

Sources: CoinDesk, Coinbase, BitPay, companies’ annual reports

44K

38K

Sources: Coinbase and BitPay

140,000 Bitcoin-Accepting Merchants Forecast by End of 2015

State of Bitcoin 2015

Sources and notes: total current merchants based on data from Coinbase and BitPay. Historical Coinbase data provided by BitcoinPulse. BitPay historical data between new merchant press release announcements of 10,000 (16th Sep 2013), 20,000 (13th Jan 2014) and 30,000 (28th May 2014), respectively, calculated using linear interpolation.

Source: CoinDesk (http://www.coindesk.com/bitcoin-venture-capital/)

$27.5m funding

$10.0m funding

$9.0m funding

$5.0m funding

Reasons banks hesitate on bitcoin:
bigger risks
higher costs
more work
Low ROI
regulatory pressure
prohibited by regulators

Source and note : Blockchain.info, 2015 quarter one wallet number is calculated by run rate

Approximately 12 Million Bitcoin Wallets Forecast by End of 2015

State of Bitcoin 2015

R2 = 0.971

Sources and notes: total wallets based on data from Blockchain.info, MultiBit, Coinbase, Andreas Schildbach (Android Bitcoin Wallet developer). Historical Coinbase data provided by BitcoinPulse.

State of Bitcoin 2015

The view that bitcoin would be quickly supplanted by DarkCoin or another theoretically more anonymous altcoin for black market use appears to be unfounded

Source: Wired http://www.wired.com/2014/09/agora-bigger-than-silk-road/

Agora, which is larger than Silk Road 2.0, only accepts bitcoins

State of Bitcoin 2015

Source: CoinMarketCap data as of 27th Feb 2015

BitAssets – allowing traders to hedge against bitcoin's fluctuations

Alternative blockchain to bitcoin’s

Decentralised social messenger

Bringing smart contracts to market

Source: CoinDesk

Source: CoinBase

New York’s BitLicense regulatory proposal widely regarded as a possible framework for other jurisdictions.
Ben Lawsky announced the latest revisions to the draft BitLicense in mid-December.
Clarified and narrowed which players in the digital currency industry would be required to obtain a BitLicense.
Fewer disclosure and record-keeping requirements for transactions.
The proposed record-keeping requirement for licensees reduced from 10 to seven years.
Broader range of financial assets (that includes virtual currency) that can be counted towards licensees' capital requirements.

Ben Lawsky

Source: CoinDesk

UK’s George Osborne

New York vs
London

UK Chancellor George Osborne has announced he is looking to make the UK attractive to bitcoin startups and capital
Startups like Epiphyte have already relocated from NY to seemingly friendlier London

Consumer Protection

HMRC (HM Revenue & Customs) and FCA

Taxation

Prevention of money laundering

Financial Conduct Authority (FCA) 

No regulation on digital currencies and no intention of doing so.

No formal obligation from HMRC. But Registering as an MSB brings a firm under the UK's anti-money laundering (AML) regulations.

HMRC

VAT on bitcoin purchase withdrawn. HMRC considering how best to tax bitcoin.

… bitcoin may help it leapfrog credit cards

State of Bitcoin 2015

BMPI Regional Distribution - Top 30

BMPI Regional Distribution - Top 10

State of Bitcoin 2015

Cristina Fernández de Kirchner’s Argentina is #1

State of Bitcoin 2015

Bitcoin is Unlike Any Previous
Alternative Currency

State of Bitcoin 2015

FinTech
$3b invested in 2014

$0.3b invested in 2014

100 Deals

Biggest Deal $31m

216
Deals

Biggest Deal
$150M