Stories
Slash Boxes
Comments

SoylentNews is people

posted by Fnord666 on Monday November 05 2018, @08:21AM   Printer-friendly

Submitted via IRC for Bytram

Fidelity just made it easier for hedge funds and other pros to invest in cryptocurrencies

Fidelity has a long history of dealing with enterprise security, as well as public and private key cryptography to make sure it isn't part of that statistic. Its custody solution will include vaulted "cold storage," which involves taking the cryptocurrency offline, and multilevel physical and cyber controls, among other security protocols that have been created leveraging Fidelity's security principles from other parts of the business.

"You might look at the crypto world and say, 'Wow, is this a new thing?' but we've been managing key materials for a long time," Jessop said. "We took our learnings in how to run enterprise security, then through our exploration of bitcoin and some of the people we've hired, quickly developed some of the crypto native expertise and federated the two of those things."


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 0) by Anonymous Coward on Monday November 05 2018, @10:24PM (1 child)

    by Anonymous Coward on Monday November 05 2018, @10:24PM (#758226)

    If you ignore the bits and watch the dollars, crypto-currency bears a lot of resemblance to a pyramid scheme: Those who get in early reap ridiculously huge rewards, those who get in later get something, those who get in late lose big-time.

    This is the same as any investment. It is just that with cryptos you havent been "protected" from the early phases (possibility of making craploads of money) by the government. Don't worry, more laws are coming to fix this oversight soon.

    https://en.wikipedia.org/wiki/Accredited_investor [wikipedia.org]

  • (Score: 2) by Thexalon on Tuesday November 06 2018, @12:35AM

    by Thexalon (636) on Tuesday November 06 2018, @12:35AM (#758287)

    There's a big difference between cryptocurrency and startup investing: Where is the value of the investment coming from?
    - If you invest in a startup, you either lose your money (99% of the time), or you make money (1% of the time) because the startup creates a product that sells well enough to keep the business afloat and pay dividends, get a buyout, or an IPO. The business in question also has real assets that can be sold off in the event of bankruptcy, like desks and computers and such.
    - If you invest in cryptocurrency, you either lose your money, or you make money because somebody else thinks cryptocurrency is a good investment. There's no product behind it, though, only the investment opportunity. That makes it behave a lot more like a pyramid scheme than a real investment.

    --
    The only thing that stops a bad guy with a compiler is a good guy with a compiler.