Chicago RIA Talks Bitcoin

Note from the Publisher:  Bill Uliveri of Chicago-area RIA Cenacle Capital Management (and a longtime friend of our CEO from the trading floors in Chicago) shares with us some insight into why he personally invests in Bitcoin, and how he believes blockchain is the financial technology of the future.  By the way, for those interested in learning more about all of the digital currencies out there, check out https://www.whattomine.com/.

By Bill Uliveri-Principal, Cenacle Capital

“Ever since I placed my first stack of FORTRAN punch cards in the IBM card reader I was hooked on disruptive technology.  My dream of becoming a vacuum tube repairman in the late 1970’s was disrupted by chips mounted on green and copper lined circuit boards. 

Knowledge of computers proved to be an easy transition in 1981, to becoming a pit trader at the Chicago Board Options Exchange (CBOE) since computers were used in calculating Black Scholes option pricing models. 

What I find most interesting about Bitcoin is that, in my opinion, it’s really a proof of concept for a decentralized, encrypted accounting ledger. It permits parties to transfer secure blocks of information which is verified in a world-wide disinterested, virtual public arena.

It reminds me of being a ‘market-maker’ on the trading floor, since traders were totally agnostic, disinterested parties only wanting to ‘mine”’ buy and sell orders from their own inventory. We didn’t care if a hedge fund, bank or insurance company used options. We had no agenda but to trade; or in this case, to mine.

While the alt-currency world is too new for prudent investment of retail assets, I believe blockchain technology, without a doubt, will disrupt every financial services industry making it more profitable, efficient and secure.  It may be like LASER technology which corrects vision, cuts steel, or surgically removes cancer. It touches every life, but profiting from it in a singular fashion has been elusive. “