Bitreserve looking to raise $10 million in crowdfunding, plans developers conference

Bitreserve is looking to raise $10 million through its latest crowdfunding campaign. $7 million has been raised thus far, with 51 days left in its campaign.

The startup was started by CNET founder Halsey Minor and states to offer a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term wallet hedging against crypto Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term relative to fiat. Their website also has a transparency page, stating to demonstrate proof of solvency. Also offered are API tools for 3rd party developers, among them exchanges looking to incorporate the transparency features. The company plans on holding a developers conference in the future.

As part of its proof of solvency efforts, Bitreserve says that it will be having an external accounting firm perform audits every 90 days.

Previous plans included merchant integration and investment of client funds in various asset classes.

Minor says the crowdfunding, which is being held on CrowdCube for the UK and Venovate for the US, is meant to supplement other fundraising efforts. He added that campaign is beneficial for the broader public, telling CoinDesk:

"People should have a right to invest in innovation ... there are so many things that are just fundamentally flawed. It's like the finance system is still medieval."

The latest campaign functions as a Series B round, in addition to an earlier round of $5 million, according to product development head Byrne Reese. The company would not disclose the identities of that round's investors.