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.“
It’s the decimal points. I think it’s eight places (hence “bit” in Bitcoin.). That hasn’t changed since day 1. Although many people don’t understand how divisible it is.
HODL is slang in the cryptocurrency community for holding a cryptocurrency rather than selling it. A person who does this is known as a Hodler. It originated in a December 2013 post on the Bitcoin Forum message board by an apparently inebriated user who posted with a typo in the subject, “I AM HODLING.” It is often humorously suggested to be a backronym to “hold on for dear life”.
In crypto currencies all of the ledgers are public. It would not be treated any differently than who has access to bank accounts and wire transfers.
I have to chuckle at the belief in the propaganda that cryptos are used for illegal things. The last audit indicated it was less than 1/3% of transactions were suspect.
You cannot touch a $100 bill without getting cocaine residue on your hands.
There are some that say HODL = Hold On for Dear Life.
“Couldn’t you say the same thing about any publicly traded stock, since it also has limited shares that billionaires could snap up?? “
no, you can’t say the same thing at all, because the corporation and it’s productive assets such as factories and ownership of raw materials are still productive assets contributing to economic activity regardless of who owns the stock.
should a few gazillionaires end up owning all the bitcoins, the result is the same thing as if they had bought up the complete supply of pictures by some famous artists such as Van Gough and displayed them in their living rooms only for their own personal pleasure ...
Well then that would be because math is racist. But I will concede if BTC does somehow gain in popularity it is going to confuse a lot of people. Burger, fries and a coke - that'll be 0.0001165 BTC please.
That’s only $6.70. Lol.
:-)
Yep, that’s the Tuesday early bird special price at my favorite local burger joint.
But I forgot to include the 9.125% sales tax.
thank you for this post. The letter that this company did to its shareholders is remarkable. Really worth reading.
congrats!
I believe in ETH. We shall see, of course.
Thanks!
if either of you have the appetite to research and weigh in, would value your opinion.
this is sort of bringing an ethereum like ecosystem...to BTC.
CD, I am unfamiliar with this.
I’ll have to read a bit.
We’ve entered an accelerated age for DeFi.
Early still, but mind-blowing. And already too big to know it all.
I am pondering the possibility of launching a VC fund to invest in these companies more directly. It’s a huge opportunity as this unfolds.
BTC is the gold standard...
agreed, please keep us in the loop. willing to participate in that!!
If I get to that point, I’ll update you by private mail 👊🏼
awesome
Hold On for Dear Life
Definitely a level of volatility you have to get used to
What I do notice are the precious metals dealers who now accept Bitcoin.
Yep....APMEX does. And, Etherium.
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