Here's a coherent summary of the 2016-06-16 #Blocktalk episode focusing on Cabbage.Tech:
#Blocktalk - A Comprehensive Review of Cabbage.Tech (2016-06-16)
This episode of #Blocktalk provides a detailed look at Cabbage.Tech (CAB), a cryptocurrency initially focused on agricultural payments. The show features an investor with 27 years of experience in trading and investment banking (Stitsky) alongside "Jimmy," a key figure in the project's development. The discussion spans the project’s origins, business model, and potential.
Main Topics:
- Cabbage.Tech's Origins & Purpose: Initially designed for agricultural payments to avoid merchant chargeback issues, the project has evolved. The name "cabbage" originated as slang for money.
- Investment & Business Model: The investor is providing capital and support to Cabbage.Tech's founder, James, with plans to incorporate the company multiple times in New York, navigate MSB regulations, and potentially launch an exchange.
- Market Comparison & Potential: Comparisons are drawn to the early days of Nasdaq, with aspirations to create a market-making facility. The project aims to leverage peer-to-peer functionality.
- Bitcoin Adoption & Challenges: Discussions include the importance of convenient on-ramps like CoinSource ATMs and the challenges of onboarding clients.
- Market Cap & Speculation: The episode acknowledges Cabbage.Tech's current low market cap ($25,000-$30,000) and the speculative nature of its value, while defending trading activity.
Key Quotes:
- "Drawing parallels between the early days of Nasdaq and the current cryptocurrency market."
- "Bitcoin is like Google or Microsoft within the blockchain space."
- "We're anti-Wall Street, despite my background."
People Mentioned:
- Stitsky (investor)
- James (Cabbage.Tech founder)
- Jimmy (project lead)
- Luke Williams (mentioned humorously)
Bitcoin Price:
- Mentioned as being initially purchased around $100.
The episode also touches on the importance of branding, referencing a 90-day quiet period similar to companies going public, and acknowledges the logo's imagery was photoshopped. The displayed Bitcoin wallet balance was clarified as a development wallet. Marketcap.com was mentioned. The sponsors for the show were Coinergy and Starcoin.