Blockchain Report — 9/3/2018
Summary:Fundstrat Global Advisors Managing Partner Believes ETH Futures Are Bad For Ethereum But Good For Bitcoin; Economist Nouriel Roubini Calls Blockchain “Useless” And Refers To All ICOs As “Scams”; 42% Of Top 50 Universities Offer At Least One Cryptocurrency Related Class
Fundstrat Global Advisors Managing Partner Believes ETH Futures Are Bad For Ethereum But Good For Bitcoin

According to Bitcoinist, Tom Lee believes that ethereum futures trading will alter the prices within the market. Tom Lee is a managing partner at Fundstrat Global Advisors. Lee predicts that Ethereum will follow the same price trajectory as Bitcoin when BTC futures were introduced.
When BTC futures were introduced in 2017, Bitcoin rose to a new all-time high before suddenly taking a nosedive in price. Now Bitcoin is down more than 60% from its mid-December 2017 all-time high. ETH futures trading will provide an opportunity for bears to short Ethereum. Lee clarified his views by saying:
“Since December of this year, if one was bearish on any aspect of crypto but did not want to own the underlying, they could short BTC. They can now short ETH, means the net short on BTC in futures would fall.”
It’s important to point out that futures offered by the CBOE are cash-settled. That means there is no transfer of the underlying asset.
Economist Nouriel Roubini Calls Blockchain “Useless” And Refers To All ICOs As “Scams”

According to Forbes, Nouriel Roubini said at a Blockshow Conference in Las Vegas that blockchain is nothing but a scam. “There has been a total collapse this year in the cryptocurrency game…It’s a crypto apocalypse.” Roubini then began to heavily criticize Bitcoin, saying: “Bitcoin is not money. To be money it would need to be a unit of account, means of payment, and a stable source of value and purchasing power…Bitcoin is none of these. Other cryptos are worse.”
He then called decentralized “a total myth”, and clarified the statement by saying that cryptocurrency miners, exchanges, developers, and wealth are all centralized.“Today’s digital systems are used by millions of people per day, and have nothing to do with blockchain.”
Roubini then pointed out that “the top five mining pools control 70% of all mining”. Places like Russia, China, and Belarus dominate the cryptocurrency world. Roubini then referred to the Gini coefficient, a formula that calculates the distribution of wealth across a population from 0% (everybody equally wealthy) to 100% (one person has all the wealth.). The Gini coefficient for Europe is about 50%. North Korea’s Gini Coefficient is 86%. Bitcoin’s Gini coefficient is about 88%.
42% Of Top 50 Universities Offer At Least One Cryptocurrency Related Class

According to Cointelegraph, a study done by the cryptocurrency exchange Coinbase found that 42% of the world’s top 50 universities have at least one class on either cryptocurrency or blockchain. The study was jointly conducted by Coinbase and survey company Qriously. Together they interviewed 675 U.S. college students and reviewed courses at 50 international universities.
Of the 172 classes reviewed in the study, 15% were offered by economics, finance, law and business departments. 4% of the classes were in social science departments. Blockchain and cryptocurrency-related courses are most popular in the United States. Only five out of the 18 universities reviewed from outside of the United States offer at least one class on these topics.
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