What you wanted to know about Bitcoin but were afraid to ask
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#Chain
#Bitcoin
What you wanted to know about Bitcoin but were afraid to ask
Abstract:
The value (market capitalization) of Cryptocurrencies has surpassed one trillion dollars while Christine Lagarde, the head of European Central Bank (ECB), has stated that Bitcoin is not a currency and China has made transactions in Bitcoin illegal. Warren Buffett claims that Cryptos are one of the biggest financial scams and will end in tears with investors losing millions of dollars.
"Cryptocurrencies basically have no value and they don't produce anything. They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem. In terms of value: zero." — CNBC, February 2020
On the other hand proponent of Bitcoin call these critiques Luddites who do not understand technology and internet and how information technology is transforming many aspects of our lives including financial transactions, investments and savings. Billionaire Peter Theil the co-founder of Paypal and Palantir speaking at the Bitcoin 2022 summit in Miami, made headlines as he doubled down on his uber bullish outlook for Bitcoin while mocking Warren Buffett, Bill Gates, Larry Fink, and Jamie Dimon.
In this talk, I will discuss in non-technical terms the underlying technology, i.e., Blockchain and cryptography, upon which Bitcoin and other cryptos rely and the way Bitcoin eco system functions. I will also examine the price volatility of Bitcoin and some of its economic and financial ramifications.
Speaker's short bio:
Dr. Dehnad is on the faculty of Financial Engineering of Columbia University and Department of Finance and Risk Engineering of New York University. He was Assistant General Manger and head of Analytic and Quantitative Trading and CoHead of Hedge Fund Group at Samba Financial Group (previously Saudi-American Bank) where he initiated use of Big Data and Data Mining to develop trading strategies. Before joining Samba, he was a Managing Director in the Structured Credit Products at CITIGROUP in charge of Exotic Credit Trading. Previously, he was head of Fixed Income Derivatives Structuring and New Products.
Dr. Dehnad received his PhD. in Mathematics from University of California , Berkeley , After receiving his second Doctorate from Stanford University , he joined AT&T Bell Labs where he published the book “Quality Control and Taguchi Method.”
He started his career on Wall Street at the program trading firm of D.E. Shaw. Later he joined the Derivatives Marketing and Trading of Chase Manhattan Bank.
Date and Time
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- Date: 14 Jul 2022
- Time: 11:00 AM to 12:05 PM
- All times are (UTC-04:00) Eastern Time (US & Canada)
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- Co-sponsored by This talk is sponsored by Life Member Affinity group of NJ coast section
- Starts 13 July 2022 03:19 PM
- Ends 14 July 2022 11:19 AM
- All times are (UTC-04:00) Eastern Time (US & Canada)
- No Admission Charge
Speakers
Dr. Dehnad
Topic:
What you wanted to know about Bitcoin but were afraid to ask
The value (market capitalization) of Cryptocurrencies has surpassed one trillion dollars while Christine Lagarde, the head of European Central Bank (ECB), has stated that Bitcoin is not a currency and China has made transactions in Bitcoin illegal. Warren Buffett claims that Cryptos are one of the biggest financial scams and will end in tears with investors losing millions of dollars.
"Cryptocurrencies basically have no value and they don't produce anything. They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem. In terms of value: zero." — CNBC, February 2020
On the other hand proponent of Bitcoin call these critiques Luddites who do not understand technology and internet and how information technology is transforming many aspects of our lives including financial transactions, investments and savings. Billionaire Peter Theil the co-founder of Paypal and Palantir speaking at the Bitcoin 2022 summit in Miami, made headlines as he doubled down on his uber bullish outlook for Bitcoin while mocking Warren Buffett, Bill Gates, Larry Fink, and Jamie Dimon.
In this talk, I will discuss in non-technical terms the underlying technology, i.e., Blockchain and cryptography, upon which Bitcoin and other cryptos rely and the way Bitcoin eco system functions. I will also examine the price volatility of Bitcoin and some of its economic and financial ramifications.
Biography:
Dr. Dehnad is on the faculty of Financial Engineering of Columbia University and Department of Finance and Risk Engineering of New York University. He was Assistant General Manger and head of Analytic and Quantitative Trading and CoHead of Hedge Fund Group at Samba Financial Group (previously Saudi-American Bank) where he initiated use of Big Data and Data Mining to develop trading strategies. Before joining Samba, he was a Managing Director in the Structured Credit Products at CITIGROUP in charge of Exotic Credit Trading. Previously, he was head of Fixed Income Derivatives Structuring and New Products.
Dr. Dehnad received his PhD. in Mathematics from University of California , Berkeley , After receiving his second Doctorate from Stanford University , he joined AT&T Bell Labs where he published the book “Quality Control and Taguchi Method.”
He started his career on Wall Street at the program trading firm of D.E. Shaw. Later he joined the Derivatives Marketing and Trading of Chase Manhattan Bank.
His latest book on “Block chain Investors’ Manual” was published in 2020
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Agenda
11:00 AM Introduction of speaker
11:05AM talk by Dr. Kosrow Dehnad
12:00 noon - End of talk followed by Q & A
What you wanted to know about Bitcoin but were afraid to as