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Thursday, 17 July 2014 00:00

Veritaseum's UltraCoin Peer to Peer Value Trading Prototype Client Is Now Available for Download Featured

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UltraCoin Public Info Deck 1.0 1

Above is a screenshot of the Veritaseum UltraCoin client performing a swap of a bitcoin British pound forex pair for GLD (the gold ETF). This is interesting stuff, eh? Something you definitely couldn't do at your local investment bank without setting up an expensive (as in 2-12%) OTC swap in which you can't get out of until you start losing. 

Consider this an example of what I consider the power of Bitcoin to be. To put this accomplishment into perspective, the vast majority of all of the big Wall Street bank (Goldman, JP Morgan, Morgan Stanley, etc.) clients don't have access to 60,000 products, and if and when they do, it's at prices that are several multiples of what you can achieve via exposures with this download. We have essentially taken the entire trading capabilities of the big Wall Street banks, converted them into D-I-Y software and facilitated peer to peer trading through the blockchain - dramatically reducing risk, inefficiencies and increasing autonomy. Keep this in mind when someone tells you the primary value of Bitcoin is payment processing. Download the wallet for Windows and Mac here. Get your test coins here (live BTC prototype will be available in 24 hours wherein you can test it with real money).

UltraCoin JPM for GOOG swap Here is an unique swap that sells Google exposure for JP Morgan exposure. If that's not unique and interesting enough as it is, notice the amount of the trade. You can do $5 million trades or .1 BTC (at today's price, roughly $62.39) trades, and do so profitably.

Here's the result of that 5 minute trade. Also visible is the encapsulation of the spread between paper gold (GLD ETF) and physical gold (or at least a future for said gold)...

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I invite all to chat with me and my CTO in my suite at the Chicago Drake hotel this Saturday evening (7 pm) over sushi and wine as we discuss and play with the UltraCoin wallet. It's a pure bitcoin wallet (no sidechains, alt coins, or off chain transactions) that can trade exposure to over 58,000 tickers (global equities, currencies, cryptos, forex pairs, commodities, bonds, futures, options, indices, etc.). If you're interested in coming by to chat (it's informal, just me and my tech guy in a suite - but I have room for everyone), email me [reggie at ultra-coin.com].
The app is quite flexible, and is capable of not just exposure trading, but peer to peer zero trust letters of credit, zero trust P2P lending, and micropayments. 

Here is an example of how we could have used the app to save Harvard Univ. a bundle: How Veritaseum's UltraCoin Technology Could Have Saved Harvard Over $1 Billion! http://ultra-coin.com/index.php/homes/item/41-how-veritaseum-s-ultracoin-technology-could-have-saved-harvard-over-1-billion
Reggie Middletons UltraCoin challenge to take any side of any trade - all takersReggie Middletons UltraCoin challenge to take any side of any trade - all takers paper gold vs sot goldShort Tesla Long Ford - UltraCoinUltraCoin going short 30 yr treasury rates and long 2 yr treasury futures

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