Posted on 03/21/2021 10:03:35 AM PDT by aMorePerfectUnion
On Monday (March 8), Norwegian industrial giant Aker ASA announced that it had “established Seetee AS (‘Seetee’), a new company dedicated to investing in projects and companies throughout the Bitcoin ecosystem.”
In its press release, Aker said that Seetee, which will “keep all its liquid investable assets in bitcoin” and is “initially capitalized with NOK 500 million”, will focos on the following activities:
“investing in and owning bitcoin” “joining the Bitcoin and broader blockchain community and establishing partnerships with leading players” “launching Bitcoin verification operations” “building and investing in innovation projects and companies in the Bitcoin and blockchain ecosystem”
Aker says to “accelerate its initiatives”, Seetee will “actively partner with other companies”. One of those strategic partnerships is with Blockstream. This collaboration will “initially focus on mining operations and be further developed by building on Blockstream’s unique strengths in blockchain technology and Aker’s industrial legacy and capability set.”
Øyvind Eriksen, President and CEO of Aker ASA, had this to say:
“With the launch of Seetee, the Aker Group makes another move into software and fintech. We are very excited about the industrial opportunities that will be unlocked by Bitcoin and blockchain technology, and want to contribute forcefully to that effort. These technologies have the potential to reduce frictions in our day to day lives, enhance the security of our digitally driven economies, and unlock new business models for innovation. We look forward to addressing these and other applications together with Blockstream and other partners.“
And Adam Back, Co-founder and CEO of Blockstream, stated:
“It’s exciting to see Aker dive into the Bitcoin ecosystem with enthusiasm. We will be working closely with Seetee on Bitcoin mining and sidechain projects that benefit Aker’s group of companies and we expect that their rich experience in leveraging global power infrastructure will prove to be a valuable asset to the Bitcoin industry.“
Xactly, which is why "a handful of billionaires and corporations" wouldn't have it in their best interest to do so. Self interest is what keeps participants looking out for the health of the entire system. Like what actual "free markets" do, unlike centrally controlled markets geared toward a half-dozen large conglomerates in each industry (e.g., Amazon, Walmart, CNN, NBC, Chase, BankofAmerica, etc.).
I own half a dozen now, and probably three times that number over the years. Besides BTC, there are over 1,000 other cryptocurrencies to choose from, if any one of those begins to outperform BTC.
lol
Yes. Nice alternative conversion of crypto when it runs its cycle and corrects
I believe it is 21 million and each one divisible by 100million. I am not sure how keeping everything in a BTC playground works since it can not increase the supply via loans and Interest. Only the value can change.
Well there are many voices out that that consider BTC more as a “store for value” than anything commercial. Like virtual gold or something.
I know there are 1000s of alt coins out there, but only a very small number of them today have any real following. Most of them trade on the etherium network; with ETH (ether) being the most prevalent currency. I do have a small number of ETH in a couple wallets somewhere. Maybe worth something in dollar terms, but not life changing money. One of those shoulda/woulda/coulda things when I had the chance I just nibbled when I shoulda gone whole hog.
All said, there is a great future for blockchain tech, and BTC being the first and biggest in value it gets the headlines. I think that will change. They even now have etherium tokens that trade on parity with dollars, and one that trades with parity to BTC. Ultimately blockchain technology will change nearly all kinds of transactions. The battle for the coins is something else.
When I realized I could’ve bought BTC for less than a cent a coin, I decided to get a stake in the DeFi coins selling for under a buck.
I bought anywhere from 250 - 2,000 coins in each.
We own about 18 other crypto now, in addition to BTC/ETH
Most up well over 100% in a few months and one up over 500% so far.
It will only take one home run to pay for all I invested in this endeavor …And have a great profit.
Most are connected to the Ethereum blockchain.
You make your choices and pay your $.
The divisible by 100 million is news to me. Unless you mean the decimal places in which case yes I know? Or did they change the code to allow for them to split some time in the future? I thought the code was already written to reverse-split the coins, down from 21 million to 10.5 million.
The only problem I see is that bitcoin works on block chain and the QFS does not. So if we do indeed move to the QFS I don’t see how the crypto currency gets absorbed. Hard to know.
Please add me..
Yep, just don't keep all of your eggs in one basket. :)
I've learned a lot over the years. Sometimes the hard way. And still have a LOT to learn. I started out trading commodities, then moved to stocks. Now I dabble with crypto, having mined many in the past. The system I use now is pretty basic. I trade the swings while trying not to get trapped. Or if I do, I don't have too much in any one pot, so, I can afford to wait for prices to adjust and still have enough reserves to continue to trade at whatever level the price happens to be at. Seems to work for me, anyway. I run the numbers on occasion and so far, I'm ahead of the holders - though buying and holding is by far the easiest way to earn a profit, if you manage to sell at the right time.
I missed a huge run in OMG by selling too early about a week ago. But hey, I made some nice pocket change.
How will the accountants verify debits and credits?
I see lots of White Collar crime possibilities.
“Can I ask how did you do that? TD Ameritrade doesn’t seem to have it yet.”
Get the Coinbase app. Then you’re off and running.
Something about this story is sketchy....
Done! You’re an insider now and will receive 100 BTC for being one of the first 100 to join the Crypto Ping List!
(Just kidding)
There are only about 3 million left to be mined. It is assumed that as more institutions buy into Bitcoin that the average amount per wallet will drop...and that more entities will be holding.
Also, a corporation can create more shares, or even different classes of shares. Bitcoin is fixed. It cannot be changed.
Coinbase. Probably the easiest method in the US.
Bitcoin and etherium are two very different systems, used for very different things. Bitcoin brings with it the public ledger and scarcity. Etherium is the base for many other digital currencies, and the foundation for digital contracts.
They should coexist quite well for some time to come.
True.
Coinbase has advantages:
Easy
90% in cold storage
Insurance
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