FRED now has crypto data

Via David Siegel:

Not much, but it’s a start. The individual series are:

Coinbase Index

Coinbase Bitcoin

Coinbase Bitcoin Cash

Coinbase Ethereum

Coinbase Litecoin


Of more significance in the real world is how the SEC views the matter - 'The world's second-most popular cryptocurrency isn't an investment vehicle, at least according to the Securities and Exchange Commission. William Hinman, the agency's director of the division of corporate finance, said Thursday that ether—the currency that powers the Ethereum network—shouldn't be regulated in the same way as stocks and bonds.

His statements follow similar ones made in April by SEC chair Jay Clayton about bitcoin. Taken together, the two sets of remarks provide the clearest understanding of how the regulatory agency views the cryptocurrency market. In essence, when a cryptocurrency becomes sufficiently decentralized, as the widely popular bitcoin and ether have, the agency no longer views it as a security. In contrast, smaller initial coin offerings, or ICOs, are almost always securities in the SEC's eyes. That distinction matters, because securities are subject to the same regulations as normal stocks.


The SEC's Hinman notably stopped short of declaring that the initial investments made in ether weren't securities. It's possible that investments made early, before the currency became truly decentralized, could still be viewed as traditional investment vehicles. "The director was pretty clear to not be definitive about that activity," says Van Valkenberg, who also suggests that this indicates the people who got in first—and have likely made the most money—could someday face regulation.

Hinman also said that other cryptocurrencies may become "sufficiently decentralized" in the future, to the point where "regulating the tokens or coins that function on them as securities may not be required." But this doesn't mean all cryptocurrencies can evade scrutiny from US regulators. The SEC has held that most so-called token sales and ICOs are likely subject to regulation, because they generally power a single startup's product or application. ICOs are opportunities for investors to purchase the tokens that power a blockchain startup, typically before its product has gone live.'

Far more powerful an arbiter, the IRS, says Bitcoin are commodities.

With the IRS, resistance is futile.

They got the data up before prices of all cryptos shoot the (full) moon* and finally stabilize at the NPV of future cash flows derived from owning crypto.

*A full moon looks like $0 per crypto.

Litecoin is only on Coinbase because its creator, Charlie Lee, was Coinbase's head of engineering for a time and thereby cultivated personal relationships with Coinbase's C-suite that gave his pet project a listing and hence, a price pump. He somewhat infamously sold all his Litecoin near the price peak 6 months ago.

Bitcoin Cash exists because Chinese miners wanted more power over the Bitcoin blockchain. Also because the Bitcoin core team is incredibly socially inept and unable to compromise on scaling solutions.

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