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Bitcoin price falls but doesn’t flatline

Those not looking at the Bitcoin markets lately will either gasp or smile. Bitcoin, down from its all time high of around $19,000, is now floating at $6,785 as of this writing. To many this means that either the Bitcoin experiment is over or, to many more, that it has just begun.

There are plenty of folks who will have been hurt by this crash. I was speaking with a Romanian entrepreneur about his friend who bought BTC on a credit card only to find that he is wildly underwater. The volatility is also frightening to folks who might have gotten in on the last run up only to find themselves back at the start. I pity the poor waiter who a friend saw making Bitcoin trades at $18,000 during his shift. I hope he sold.

But there are no signs that the cryptocurrency train is stopping. Startups around the world are all examining – and doing – ICOs. Plenty of early crypto miners and buyers still have enough cash to play around in all sorts of ways. Bitcoin naysayers like R3 are figuring out that bankers didn’t want to hear “blockchain, not bitcoin” after all once they realized that bitcoin, like their beloved equities and commodities, was just another place for them to play.

And people are still active in the market. That’s important. As this Coindesk analysis notes, the markets will be deeply volatile during this stretch and could remain so as risk-taking buyers snap up coin on the downswing.

Don’t believe me? This is the seven day trading volume for almost all of the exchanges.

Ultimately these moves make up one of the most interesting forms of intergenerational and international wealth transfer we’ve ever seen. Whereas this wealth transfer once came in the form of inheritances and joint ventures, cryptocurrencies enable an almost instantaneous partners ship between the old and young and the near and far. It’s a fascinating economic time and I doubt it will let up any time soon.

Sometimes the price goes up, sometimes it goes down. That’s the best advice any smart person can give anyone in any market. However, the signs point less to a flatline and more to a gut-wrenching EKG full of ups and downs. The patient, however, is not dead yet.

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Startup funding hasn’t changed much in the past decade. Funderbeam is an interesting company trying to turn everything upside down using a marketplace approach, a modern syndication system and a blockchain-based platform. I’m excited to announce that Funderbeam founder and CEO Kaidi Ruusalepp will come to TechCrunch Disrupt Berlin. The first boom of venture capital of the 1980s changed everything in the tech industry. Countless of tech startups managed to get funding, grow and make money down the road. Without venture capital firms, some of the biggest tech firms out there just wouldn’t be around. Arguably, convertible notes and accelerators turned startups into a mainstream phenomenon. It became much easier to get seed funding and some sort of mentorship. But it hasn’t changed much since then. Funderbeam has some ambitious goals as the company wants to change everything by adding more transparency and liquidity into private funding. Funderbeam combines multiple products into one. As a startup, you can use Funderbeam to raise your next funding round. Funderbeam acts as a marketplace so that angel investors can invest in your startup. As a business angel, you can invest in a syndicate. The startup is also building a secondary market so that early investors in a company can sell shares to newer investors. And Funderbeam also compiles all its data on startups to create a database of financial information on startups. Buy your ticket to Disrupt Berlin to listen to this discussion and many others. The conference will take place on November 29-30. In addition to fireside chats and panels, like this one, new startups will participate in the Startup Battlefield Europe to win the highly coveted Battlefield cup. Kaidi Ruusalepp Founder & CEO, Funderbeam Founder and CEO of Funderbeam, the global funding and trading platform of private companies built on blockchain. Funderbeam combines three stages of investor journey into one: startup analytics, investing, and trading on the secondary market. Powered by blockchain technology, the marketplace delivers capital to growth companies and on-demand liquidity to investors worldwide. Member of Startup Europe Advisory Board at European Commission. Kaidi is a former CEO of Nasdaq Tallinn Stock Exchange and of the Central Securities Depository. Co-Founder of Estonian Service Industry Association. The first IT lawyer in Estonia, she co-author of the Estonian Digital Signatures Act of 2000 — landmark legislation that enables secure digital identities and, in turn, the country’s booming electronic economy. Kaidi was named as an Entrepreneur of a Year in 2018 by the Playmakers Technology Award and as a Person of a Year in 2016 by the Estonian IT and Telecommunication Association. Co-author of #Foundership Playbook and mentor of various girls and women in tech initiatives.

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