Blockchain to Buy Bitcoin Trading Platform: CEO

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March 4 (Bloomberg) -- Nic Cary, CEO of, the world's most popular bitcoin website, annouced plans to buy Bitcoin trading platform RTBTC on "Market Makers." (Source: Bloomberg)

We have conducted our second acquisition in 10 weeks.

We have partnered with clark moody, one of the first bitcoin adopters.

He started building charts a few years ago and recently dabbled in a high-performance trading platform.

We have made this acquisition 100% in bitcoin, we are very excited to announce that we will be merging the -- real time trading platform into the world's most popular iphone and ipad app, zeroblock.

For enthusiasts, this is exciting news.

Where you able to do this cheaper than you could have before, with the recent issues with bitcoin?

We do the acquisitions a few weeks ago.

We don't worry about price fluctuations on a day-to-day basis.

Everyone at block chain is in for the long haul.

What is the name of the company?

Rtbtc, real-time bitcoin trading.

It allows traders to buy and sell bitcoin.

We will implement a real-time newsfeed into the platform.

It launched in 2013 in june and it has traded $150 million in transactions.

You mentioned the transaction is taking place in bitcoin.

I might as well ask you, how many bitcoin?

Of the details are exclusive but we all -- we do all of our transactions in bitcoin.

We have been trying to get our head around how big that this business is.

We know how much that mount has lost --we can have a number but give us an idea of how big this deal is?

These deals are getting bigger because there is so much innovation happening in this space.

We are excited to have tools for traders who deserve professional level service and that is one thing you will see coming from us.

When you are doing these transactions in bitcoin, and you are setting a certain value, i assume that yesterday -- now that the price has bounced back, you see a lot of volatility right now.

Explain a little bit about how you are valuing this in bitcoin.

Is this against the currency or is this purely bitcoin?

We do value it against the currency today and the terms of the deals being structured provide a little insurance against any form of volatility, just if you were to buy a company in euros.

We may do several different payments over a. of time -- period of time just in case people are uncomfortable.

I am very bullish on bitcoin, it is i think it is one of these great decentralized opportunities.

If you look back at paypal in 1999, it had a lot of the same problems.

I would like to understand from you, what are the problems that you think needs solving right now in this business, to make it a little bit more palatable to risk averse people.

He just liked you on facebook.

That is a really wonderful question.

I think the challenge this year is for everyone in bitcoin to build beautiful software.

Everyone uses e-mail but don't understand how it worked under the cover.

They use that because they understand it helps them send messages to everyone in the world, for free and that is the promise of bitcoin.

Just like in the 1900s when henry ford invented the car, a lot of people did not know how to drive yet and there were no off ramps or on reps or highways.

That is happening in bitcoin a little bit.

Things are getting better and we are building amazing services and products to re-create a financial industry that is in desperate need of innovation.

Nick, people say there is strong and his potential in all bitcoin world, but now you are -- there is strong potential in an all bitcoin world but you are moving from this and other currencies, is this right?

Blockchain and zeroblock will be the front for many exchanges, our company will never touch -- you may have trading platforms on top of nasdaq or the new york stock exchange, brokers use those services.

This is kind of like a trading aggregator, does that make sense?

Like a consolidated order book.

Where is the financial opportunity?

The real value is in the underlying trading prep or -- platform.

How do you make money?

You have instant news and also do trading.

That is what we are involved with as well.

We do trading, but we also have a platform that is not an aggregator.

Is it the idea that you can bring a number of the coin-related services under one roof?

That is definitely what we do here at bloomberg because there are so many ways of values being added, in one place, people may do more business with you than they may want to do with a single-service provider on his own?

You could definitely say that.

When we launch more and more exchanges on zeroblock, institutional traders will be able to visit and trade across any exchange and we will support mobile trading on zero block, the most popular android app for bitcoin.

I wanted to ask, explain to me why you have been having trouble with apple lately.

Explain to us a little bit about what happened to the app in the app store?

That was a setback of three weeks ago but it was not that unanticipated.

Apple has taken a fairly hostile stance against bitcoin services so far, they don't want people to send or receive bitcoins.

Information services like zero block are ok.

We are building a world-class

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