Commentary

Erik Hoel
Traders Magazine Online News

Will The Bitcoin Bubble Pop Or Will It Envelop Us All?

Guest contributor Erik Hoel asks the question whether the worst is over for bitcoin holders, or still yet to come, what is yet to come? And why.

Traders Poll

In your opinion, what is the biggest hurdle facing the blockchain?

Cost of implementation

17%

Too many systems available

23%

Not applicable to my business

3%

Uncomfortable with the technology

33%

Nobody else is using it

23%

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January 1, 2003

Instinet/Island Change Capitol Jockeys

By Gregory Bresiger

In a move that surprised some, Peter Rich has been removed as Instinet/Island's chief Washington lobbyist. He will be replaced, in part, by Andrew Goldman, executive vice president. Goldman, along with Instinet General Counsel Paul Merolla, will jointly supervise Instinet/Island's Congressional lobbying efforts.

"Our chief priority is to find the most efficient way to integrate electronic markets into the traditional markets so they can fully and fairly compete," Goldman said. He added that his firm has no particular law or rule it is committed to changing or passing this session, but "wants to educate" regulators and lawmakers on the needs of electronic markets. Goldman's additional duties, along with the departure of Rich, raised eyebrows in the trading community.

"It was unexpected," said one trading industry lobbyist, "because Goldman is an Island guy and the person he replaces is an Instinet guy."

Many people are watching closely to see what happens in the wake of the merger of the new electronic trading giants. The betting among most trading professionals has been that the Instinet culture will override the Island culture. Many have been expecting dramatic changes in the giant ECN, which is so powerful that it has shunned the use of Nasdaq's new trading platform.