IamA CEO of an *existing* New York City bitcoin exchange Coinsetter. AMA!
With all the fanfare surrounding institutional Wall Street bitcoin exchanges today, I thought people might be interested if we opened up to the community about our product and experiences. Ask me anything! Proof it's me: https://twitter.com/borntobank/status/558640392112197632 PS: I'm already afraid of what will be asked ;) Jaron Lukasiewicz Coinsetter CEO
SOMN is severely undervalued and has potential for huge returns, here's why.
Hello all! I'm really excited about this project and this coin. I believe there are some very important factors that make this coin stand out to me as an undervalued option with a lot of room to grow. Since Golem (GNT) is SOMN’s main competitor I am going to focus mainly on their growth and capital gains as a sort of benchmark for what SOMN can attain. SOMN is focused on making a product first and then marketing and they have a solid highly experienced team behind it. The time to look into the currency is now and not after it explodes, and here is why:
1. Current Market Capital As of writing (Dec, 11, 2017) this crypto has a market cap of 61 million. For comparison, Golem (GNT) their main competitor, has a market cap of 260 million. Why is this important? It shows there is a lot of potential interest (nearly 5x) in this space already. 2. Medium Supply Amount The circulating supply of SOMN is currently 359.6 million, just under half of Golem’s circulating supply. The total supply for both coins mirror this as well, with SOMN at 444 million total, to Golem’s 1 billion. Why is this important? Less coins in circulation means higher value per coin. In the event that SOMN simply reaches Golem’s market cap of 260 million, the value per SOMN coin would equal 73 cents (17 (current value) x 4.3). If SOMN breaks 1 billion in market cap the coin would be valued at about $2.56 from the current 17c value. Now, with all the hype surrounding Bitcoin, you may think $2.62 isnt that much, but remember, in the event that SOMN breaks 1 billion, that would be a 1639% return. Furthermore, for Bitcoin to break that same amount of returns it would need be valued at $272,000 per coin (16,612 x 16.39) and have a market cap of 4.5 Trillion USD. Which is more likely? Bitcoin breaks $4.5 Trillion, or SOMN reaches $1 Billon? Caveat: SOMN and BTC serve two different functions in the Cryptocurrency space. BTC is a store of value, SOMN is a decentralized super-computer network that harnesses user’s computer power. SOMN will never be valued in the trillions, but it doesn’t need to be, the whole point of this post is the massive current undervalue of this coin and room for profit. If you’re fine going long on a coin that isn’t really that useful and has its value derived solely by hype then by all means, go long on Bitcoin; just be aware of the tremendous risk you are putting yourself at and the fact that you’re already late to the party. 3. Sleek website This one may seem minor, but at this time having a sleek and well-designed website is important. As they say, first impressions matter. In this case, it shows competency in a team and professionalism in a project. Like many of you here, I have visited a lot of crypto sites, and SOMN’s website is among my favorites. Sleek, clean, and professional, I like it. 4. Strong team The team is experienced. One of my biggest fears when investing in a coin is that I am throwing money into a group or project without any experience backing it up. SOMN’s team is composed of several very experienced members in the Ethereum, blockchain, and Cloud spaces, as well as having advisors from LISK (Max Kordek), DecentraNet (Simone Giacomelli), Coinsetter (Jaron Lukasiewicz), and other projects. (There are links at the bottom that reference the team members.) 5. Large market Golem is SOMNs main competitor, as mentioned earlier they have over 4x the market cap of SOMN circulating in their coins. There is already four-times the interest in this specific crypto space and neither Golem, nor (especially) SOMN, have “moonshot” yet, so who knows where the ceiling is. Furthermore, both projects aim to provide their respective decentralized computational power towards a variety of projects; from rendering CGI/video, mining, scientific projects, neural networks, and any other scenario where massive computational power can be applied. The market that SOMN is targeting is estimated to have a volume of over $300 billion by 2020 and will only grow from there. 6. Competitor is already expensive (already valued at nearly $300 million) This point is more of an opinion, I have no issue with Golem, but I think there are a few valid arguments that can be made at this time. Golem is, as mentioned earlier, much more expensive to buy into, thus the profit margin is significantly lower. If you’re invested into these projects to make money that point should speak for itself. Additionally (and this is somewhat minor), Golem’s website looks amateurish and outdated. If new users were to look at both sites which would leave a better first impression? https://golem.network/index.html or https://sonm.io/ TL;DR: SOMN provides a very lucrative and potential huge return on investment (over 1600% if it reaches 1 billion market cap. The vast majority of people investing in the cryptocurrency are doing it to get rich. If that is your objective then you need to be ahead of the curve. Buying into a coin after it already moonshot is not the answer, you need to beat the hype (and do your homework!) There are a lot of scam coins out there, projects with limited usage, or very high circulating coin supply. SOMN stands out to me strong option that is undervalued in the super-computer space and larger Cryptocurrency space. Buying into it now is ideal because there efforts are focused on producing a product instead of marketing as opposed to a lot of other coins where they are putting the cart before the horse. Sources: https://bitcointalk.org/index.php?topic=1845114.0 (March 2017) https://medium.com/@EthereumRussian/ico-review-of-sonm-snm-tokens-on-ethereum-blockchain-c59486751cf (JUNE 2017) https://sonm.io/https://coinmarketcap.com/currencies/sonm/#marketshttps://coinmarketcap.com/currencies/golem-network-tokens/https://www.youtube.com/watch?v=PMYYA3htne4
Coinsetter email announcement, works with Coinbase.com
In order to make funding your Coinsetter account even easier, we're excited to announce a new rebate program we're offering to Coinsetter's US customers. Here's the good news: you can now use Coinbase ACH transfers to buy bitcoins for free and fund your account on Coinsetter! More specifically, we'll refund your fees for bitcoins you buy through Coinbase. We're excited about this program because it allows users to completely bypass interacting with international banks on deposits and withdrawals. Best of all, the ACH-linked deposits you make on Coinsetter through Coinbase are now entirely free through this offer. Here's how it works:
Go to Coinbase. If you have not yet done so, create an account. Otherwise, log into your existing Coinbase account.
Link to your bank account to Coinbase and buy bitcoins.
Transfer bitcoins from Coinbase to Coinsetter. Make a transfer to your Coinsetter deposit address.
Send your Coinbase receipt to [email protected] and expect to see rebate credited to your Coinsetter account within 1-2 days.
For users who fund their account by purchasing bitcoins on Coinbase and transferring them to Coinsetter, we will now fully refund your purchase fees for deposits of 1 to 100 BTC. Additional details on the program can be found at http://www.coinsetter.com/coinbase-rebate. Best, Jaron Lukasiewicz Coinsetter CEO
Businesses and market makers now have access to margin and shorting, as well as the ability to minimize capital held on a bitcoin exchange
NEW YORK, NY (January 12, 2015) – Coinsetter, the Wall Street institutional-level bitcoin exchange, today announced it will begin offering margin trading and post-trade settlement to select business customers. Post-trade settlement allows customers to place trades on Coinsetter’s order book before making a deposit. This structure allows customers to trade without holding large balances on an exchange, limiting their exposure to third-party risks. In addition, the new program allows market makers to short bitcoin on Coinsetter’s exchange. In the aftermath of security breaches that weaken the infrastructure of the bitcoin market, New York City-based Coinsetter is introducing a new way to mitigate risks for well-capitalized businesses–a group that represents the majority of capital holdings on bitcoin exchanges. After depositing collateral in the form of bitcoin, Coinsetter will allow select businesses to buy and sell bitcoin on margin, settling balances after trades are executed. This model is aligned with the settlement method of exchanges in other markets on Wall Street. Jaron Lukasiewicz, CEO of Coinsetter, said: “We have been testing a post-trade settlement offering with select business customers since December, and its value is apparent. Coinsetter’s business customers, many of whom represent important institutions in the bitcoin space, can now access liquidity without having to worry about bitcoins being hacked or USD holdings becoming tied up. The program also helps growing companies reduce their working capital burdens.” In addition to post-trade settlement for businesses, Coinsetter’s designated market makers will now be able to take short positions on bitcoin. These additions expand upon an already robust feature lineup for professionals, including FIX 4.4 API connectivity, low latency and attractive pricing. Designated market makers may also be eligible to participate in Coinsetter’s Market Maker Equity Incentive Program, through which Coinsetter has opened 10% of its equity. “The experienced team at Coinsetter is committed to providing clients with the most advanced bitcoin exchange in the world. The features announced today raise the bar even further.” Lukasiewicz added. “Our top priority remains security, and all users benefit from Coinsetter’s Securicoin® technology. Bitcoins held in the Securicoin® system are contained in highly protected offline wallets that never directly touch the internet. Furthermore, a human is always involved to verify the validity of each withdrawal.” About Coinsetter Founded in 2012, Coinsetter is Wall Street’s leading bitcoin exchange for firms and individuals. Recently added to the CFTC-regulated Tera Bitcoin Price Index, Coinsetter’s New York-based exchange offers high uptime, low latency trade execution, enterprise bitcoin security by Securicoin®, deep liquidity and attractive pricing. Visit www.coinsetter.com to learn more.
FREE Deposits For New Users on Coinsetter! (ends tomorrow at 2pm ET)
Hey all, With a number of exchanges experiencing technical issues today, it seems many bitcoin traders are looking for alternatives that can sustain serious trading. If you're among this group and haven't yet tried Coinsetter, now is your chance! We have decided to eliminate deposit fees for customers that make their first deposit on Coinsetter of $10,000 or more until tomorrow at 2pm ET. Deposits are absolutely free for the next 18 hours. You can create an account at www.coinsetter.com. We hope you'll pair your free deposit with our free margin trading capabilities, allowing you to trade bitcoin with up to 5x leverage. Happy trading, Jaron Lukasiewicz Coinsetter CEO PS: Feel free to email me if you have any questions! [email protected]
Email; We've been working hard at Coinsetter to improve our platform based on feedback from you and other users. Today I'm happy to announce a series of updates that we've released today. Here are some key new features:
Market order sizes of any dollar amount
Interactive charts provided by Coinstackr
Fixed issue preventing users from closing small fractional positions
Better UI with easy to read dollar and bitcoin balances up to 8 decimals
Trading speed and latency improvements
Faster order book integration with Bitstamp
Enhanced user notifications for invalid login attempts
Performance enhancements to all web pages
Various security enhancements
New API features:
Ability to log into API and website at the same time
Timestamps added to market data feeds
Ability to call VWAP quote for a given quantity
Access to greater depth of order book
I'm confident you'll love the new and improved Coinsetter. Even better, our team of 12 Wall Street bitcoiners isn't done yet. We'll be releasing other great features over the next few weeks! Best, Jaron Lukasiewicz Coinsetter CEO
Help us create the best bitcoin trading platform out there!
Hey Reddit, I usually try not to comment too commercially, but I believe that everyone here can make a big difference in helping us get funding for Coinsetter, which is a Los Angeles-based bitcoin forex trading platform that we're launching in beta later this month. A couple of companies have tried to do this before, and we're committed to being the company that finally does it right. In addition to building our platform (you can see screenshots at the link below), we're also raising seed capital on AngelList. We've already been contacted by a few exciting investors and have meetings scheduled with them, but by attracting 100+ "followers" we can raise our profile to be seen by thousands of investors. With just a little help from the bitcoin community, we have a very good chance of being successful in raising seed capital and building our company with a solid foundation. If you're interested in learning more about us and helping us out, you can "follow" Coinsetter's page on AngelList at https://angel.co/coinsetter. Additionally, you can learn more about our team and give us feedback on what you'd like to see us incorporate into our platform in the forum we have going on Bitcointalk at https://bitcointalk.org/index.php?topic=141638.0. I really appreciate everyone reading this and for your support! Best, Jaron Lukasiewicz CEO | Coinsetter
Coinsetter - New transparent bitcoin forex trading platform intro/feedback
Hey everyone, I come from a heavily financial background (I was previously an investment banker and in private equity at J.P. Morgan and other companies), and I thought the people in this forum would be interested to learn about the US-based bitcoin forex trading platform we're launching in a few weeks. We have a thread going on bitcointalk.org where you can learn more about us and see some screenshots, and I'd love to get feedback from the community before we go into beta. We are working hard to be the company that does this right. I look forward to hearing from everyone! Here is our thread on bitcointalk: https://bitcointalk.org/index.php?topic=141638.0 Jaron Lukasiewicz CEO | Coinsetter
In August 2016, fresh faced entrepreneur Jaron Lukasiewicz returned from his six month vacation on the West Coast, enough time to reflect on his tenure as one of the more technologically-minded members of the Bitcoin fraternity who exited the industry following the sale of successful New York-based Bitcoin exchange Coinsetter (acquired by Kraken) in January last year in what has been widely ... Bitcoin has been facing unusually strong selling pressure throughout the past few hours, which appears to be coming from multiple large mining pools This caused the price of BTC to... Cole Petersen 8 hours ago; Bitcoin Plunges Below $11,000 as Selling Pressure from... After facing some slight turbulence yesterday, Bitcoin incurred a massive rush of selling pressure today that sent its price ... Coinsetter CEO, Jaron Lukasiewicz, describes 2014 as bitcoin's year of Maturity & Growth and outlines how 2015 is geared up to be a year of Strength. Jaron Lukasiewicz Jul 4, 2017 An early bitcoin startup CEO looks back on the evolution of regulation in the US, arguing it has had a lasting negative impact on the industry. About Jaron Lukas -- 5X entrepreneur -- Get free access to my digital books and audio program for startup founder mindset improvement here. I started a YouTube channel! watch here. Book Free Strategy Call. Pro tip: listen to my free audio course. It will change your life. Some call me a startup thinkboi, others say I'm a wise sage. Whatever it actually is, I've built businesses and helped ...
Jaron Lukasiewicz - CoinSetter, Yoni Assia - eToro, Luzius Messier - Bitcoinfund.ch and GatisEglitis - Exante discuss Bitcoin as an asset class. The chair of the panel is Gary Hileman -LSE. Jaron Lukasiewicz is founder and CEO of Coinsetter, the only New York-based bitcoin exchange. In this lively discussion, Jaron gives his outlook on the price of bitcoin, working near Wall Street, a... Background Tell us who you are, your background, and the background of your team. Are you a trader ? Do you trade BTC/crypto actively ? What products have you used in the past or currently use? Do ... Jaron Lukasiewicz is the CEO and Founder of Coinsetter, an ECN exchange and bitcoin trading platform. Listen as Jaron discusses his background, his journey into bitcoin, and the reasons why he's so... Learn more at www.coinsumm.it Bitcoin as an asset class? Panel with Yoni Assia, eToro, Luzius Meisser, Bitcoinfund.ch, Gatis Eglitis, Exante, Jaron Lukasiewicz, Coinsetter Moderated by Garrick ...