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The Genesis Block – 2013 Mid-Year Bitcoin Review

The Genesis Block – 2013 Mid-Year Bitcoin Review:

https://docs.google.com/viewer?url=http://thegenesisblock.com/wp-content/uploads/2013/07/TGB-Bitcoin-Mid-Year-Review-and-Outlook-4.pdf

This report from The Genesis Block (@TheGenesisBlock) covers the major events from the first half of 2013 and what to look out for in the months ahead.  Excerpts:

“The one outlier in the global bitcoin trading story so far in 2013 has been CNY, with a meteoric rise from near obscurity at 1% in January to more than 6% of global volume at the end of June. This was largely attributable to a brief documentary about bitcoin aired on state-run CCTV.”

“Volatility has presented a number of exceptional arbitrage opportunities for traders. As macro events and news from different exchanges create unique trading dynamics, the price differential across exchanges can become quite significant.”

“As a smallmarket, bitcoin is still heavily influenced by individual micro events, but traders are clearly paying attention to major macro headlines as well.”

“We are also aware of three VC-backed exchanges currently in development.”

“The initial ASICMiner IPO was in August 2012 [raised] over $100,000 for initial ASIC production. As of this writing, shares are trading at 4.25 BTC each, providing initial shareholders a 4,250% return in 8 months and netting IPO investors millions of dollars in gains.”

“The US has unquestionably been the least accommodating with regards to virtual currency regulations. Throughout the rest of the globe, government responses have ranged from deferment to outright encouragement so far this year.”

“We expect more and larger retail players to enter the space, helping the value of the market continue to grow steadily.”

 – http://thegenesisblock.com/bitcoin-mid-year-review-and-outlook
 – http://bit.ly/1aJhEQs (PDF)  (Flash-based PDF Viewer)

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