Bitcoin price in EUR, USD & GBP - Live Bitcoin (BTC) value ...

Best Bitcoin Platforms for New Zealand Traders

Best Bitcoin Platforms for New Zealand Traders

https://preview.redd.it/8ual3ajbcey51.png?width=1000&format=png&auto=webp&s=4101b150f171882152e58bff7a2fb6665f083312
The cryptocurrency market is heating up again in 2020 and the options available for New Zealand Bitcoin traders for where to trade at are more diverse than ever before.
Now as well as local platforms, there are a number of international platforms that have been breaking into the New Zealand crypto market for the past few years .
We're taking a look at the best Bitcoin platforms for New Zealand traders in 2020, starting with a look at the state of the New Zealand market, before moving on to looking at the international market and its impact this year, and then finished off with a look at the best Bitcoin platforms for New Zealand traders.
What is the State of the New Zealand Market?
Following the last bull run that ended in December 2017, global crypto markets went through a devastating 2-year bear market that saw prices crash throughout that period.
As with the rest of the world, the New Zealand market was no different and also saw large numbers of traders and investors leave the market as they suffered huge losses.
However in 2020 there has been renewed hope that there is a new bull run forming globally, with this seeing the New Zealand market expand rapidly throughout the first half of this year.
New Zealand Using International Platforms More Often in 2020
One trend that has been seen this year is that New Zealand traders and investors are turning towards international trading platforms that are offering higher trade volumes and more opportunities in comparison to the local counterparts.
This is something that has been seen globally and not just within New Zealand, where international trading platforms are moving into many different markets around the world and are growing rapidly as a result.
2020 certainly has been a year for international trading platforms to make a lot of headway into the New Zealand market, with many cryptocurrency users turning towards them this year.
New Zealand Positioned to Become a Global Hub for Cryptocurrency
Something that has become clear over the last year or two is that New Zealand is now positioning itself as becoming one of the new global hubs in cryptocurrency.
In 2020, there are more traders and investors within New Zealand than ever before, with this being largely as a result of the greater exposure of cryptocurrency this year in comparison to others.
As trade volumes and the number of users in New Zealand grow, we are seeing more international platforms turn their attention towards New Zealand and the opportunity that presents.
What are the Best Bitcoin Platforms for New Zealand Traders?
  • PrimeXBT

https://preview.redd.it/ydkcghbdcey51.png?width=1000&format=png&auto=webp&s=3386dba81a45a8aca4315cc56bedbfbfdd47021e
PrimeXBT is the world's largest multi-asset margin trading platform and has grown rapidly over the past few years since it's launch in 2018 to today managing up to $3.6 billion worth of global trade each and every day.
PrimeXBT provides advanced security features such as hardware security modules with rating of FIPS PUB 140-2 Level 3 or higher and cloudflare to mitigate potential distributed denial-of-service (“DDoS”) attacks, with this ensuring that the platform has never been hacked or breached by hackers.
PrimeXBT also offers the lowest fees of any major cryptocurrency trading platform on the market with a low flat rate of just 0.05% applied to all trades, irrespective of the assets being traded or of the size of the trade.
  • Binance

https://preview.redd.it/9x21cyjecey51.png?width=460&format=png&auto=webp&s=fda9e744ae932c2ac093ca74f42ee41d9eab0d99
Binance is another platform that has grown rapidly in the past few years since its launch, with this being as a result of Binance offering a wide range of cryptoassets to trade.
Binance provides an intuitive platform to use in order to interact with global cryptocurrency markets, and also provides a range of powerful tools and features as well.
Binance does charge significantly higher fees than many other trading platforms, and for example, Binance charges anywhere up to 5 times as much as PrimeXBT in order to trade, with this being an important consideration to take into account.
In Summary
In 2020, we have seen New Zealand traders and investors moving towards using international trading platforms as they become more prevalent and as the services that they provide become significantly more advanced than other platforms.
Two good examples of this are the growth of PrimeXBT and Binance within the New Zealand market, with this growth being mirrored in many different areas of the world in 2020 as well.
To learn more about PrimeXBT and Binance, the features and tools they both provide, and the advantages of using these top-tier international platforms in the Bitcoin and cryptocurrency markets, check out PrimeXBT and Binance.
submitted by benebit to CryptocurrencyICO [link] [comments]

New Email from Richard Ells

Hi Everyone!
Well, the last few months have certainly been busy here at Electroneum! I’m sure lots of you have been following our updates on the forum and on social media closely, but we’re delighted to bring you even more great news about what’s happening now and over the next few weeks.
1. We need YOUR help in the BINANCE Community Coin Vote!
2. You can now buy mobile minutes and data top up with ETN in over 140 countries
3. We’ve launched in another huge exchange!
4. AnyTask is now LIVE for all sellers and buyers after fantastic initial success
5. The M1 phone is a hit in Cambodia
1. We’ve been asked by a number of people in our community when we will list on Binance…
Now is the time that you can HELP us achieve a Binance listing by showing them the power of our community! If you can please reply to this Twitter thread with u/Electroneum #ETN you will be helping get us listed on the most popular exchange in the world!
https://twitter.com/binance/status/1231923438534574084
It would be amazing if you could take a few moments of your time to Tweet a reply to vote for ETN to be listed.
2. Electroneum has expanded mobile top up to over 140 countries
In yet another great step towards changing the lives of millions of people, Electroneum has expanded in-app mobile phone airtime and data top-up to over 140 countries reaching nearly 4 billion mobile phone users!
The rollout is following a successful trial
You may know that we’ve been trialling ETN to airtime top up in countries such as South Africa, Turkey, Brazil, Uganda, Tanzania, and Nigeria. Well, following a fantastic initial test period, we’ve rolled it out around the world to a huge list of countries.
We now offer Electroneum users the opportunity to top up using their ETN from a list of 600 major MNOs and MVNOs (mobile virtual network operators). These include almost every large network operator you’ve ever heard of.
This is going to be even more exciting as users continue to earn ETN through AnyTask.com and we give them even more ways to spend. If you haven’t already…There’s now a really good reason to list a task on AnyTask.com.
Meanwhile to top up your airtime and data, simply log into your Electroneum app and select your country from the ‘Top Up’ menu. Don’t forget to let us know what you think in the community forum! Even more countries will be added later!
3. Electroneum is now live on the Biki exchange
We’ve added another fantastic exchange to our list, with Singapore-based Biki! Biki.com opened for deposits at 18:00 GMT +8 on Wednesday, 19 February and trading opens today (25th February) at the same time.
Biki is the fastest growing exchange in the world and we’re one of the fastest growing cryptocurrencies. With AnyTask.com allowing users across the world to earn ETN, relationships with key exchanges like Biki allows an easy way for people and companies to trade that ETN for other cryptocurrencies such as Bitcoin.
The new listing will also be great for increasing awareness of Electroneum to new users in Asia, as well as supporting our joint ongoing commitment to encourage adoption of cryptocurrency around the world.
Biki ETN competition
To celebrate them adding ETN to their awesome exchange, the fabulous team at Biki will be running an exciting giveaway of 5,000,000 ETN in a trading contest. From today at 18:00 GMT +8, users with the highest ETN trading volume will share 5,000,000 ETN in proportion to their total transaction volume. Visit Biki.com for more information.
4. AnyTask Platform Update
As you’ll remember from my last community update, AnyTask.com, the freelancer platform powered by ETN, went live with invited sellers last month and since then, it has gone from strength to strength.
We now have over 100,000 users signed up to the platform. In addition over 1,000 users have successfully listed a task. Some have even seen multiple purchases of their tasks already!
With the success so far, we can now clearly demonstrate the real world use case for ETN and how it can help a huge number of people. They don’t need to have a bank account to reach customers across the world and get paid in ETN for their amazing skills, from social posting, photo editing, logo design, tarot card reading, online teaching, animation and more.
If you have a digital skill, come and sell it on AnyTask.com!
We’ve already seen a great response from our invited sellers, with more and more buyers getting involved in a fairer freelance platform. Now, ahead of schedule, we’ve opened the platform to sellers across to the entire world, so if you have a digital skill, sign up at AnyTask.com and start earning ETN now.
It’s simple, create a profile and list a task, telling us what you’re great at and how much you’d like to be paid. Once we’ve verified your listing, it will be available to buyers from anywhere to request your services and what’s great is there are no seller-fees! Even better, we’ll pay you in ETN, so no longer will not having a bank account mean you can’t be part of the global digital economy!
We are DISRUPTING an already DISRUPTIVE industry! We’ve seen great feedback for sellers offering skills for just one dollar! A fifth of the lowest price on Fiverr. As buyers find this new marketplace, we open earning opportunities all over the world to people who very often earn less than 100 dollars per month.
Our buyer ad campaigns have started
As promised when we started to recruit sellers, we had a beautiful campaign of social and digital advertising lined up, ready to launch, when we had enough tasks listed. These ads are now launched, with some great feedback from our community and fans. You can check out some of our great ads here, and as always, we’d love to hear from our community on any other great ideas for ads that they have. You never know, your idea could come to life in our next campaign.
These ads are helping us to drive hundreds of buyers to AnyTask.com, which means more tasks sold and more ETN earned by our sellers! We will be ramping this to thousands and then tens of thousands!
Showcase your AnyTask skills on video and earn up to 150 US Dollars in ETN!
We want to let our seller’s skills speak for themselves to attract buyers, and what better way to do that than by getting our sellers to create their own videos demonstrating their task?
Not only does this make your profile stand out, as videos attract even more attention, but you could also earn up to 150 US Dollars in ETN. If you’re one of the first 1,000 videos uploaded, we’ll rate your video and reward you with up to 50 US Dollars in ETN. Each user can upload up to three videos to get to that awesome 150 ETN bonus! Check out our community forum post to see what we’re looking for.
5. Electroneum M1 smartphone flies off the shelves in Cambodia
The Electroneum M1 phone was created specifically for users in developing regions. It’s a great, affordable Android phone with features users actually need! And more importantly, straight out of the box, users can enjoy ETN Rewards, so it’s a phone that pays you back.
Now, thanks to our agreement with Cambodia’s fastest-growing MNO, Cellcard, we’ve been able to get the M1 phone into the hands of hundreds of new users across the country, who for many, especially in rural areas, are moving from feature phones to entry-level smart phones. In fact, the handset has been such a hit with users in Cambodia, the first crypto phone manufactured by a blockchain startup has flown off the shelves. The Cellcard and Electroneum collaboration agreement is the first-ever between an MNO and a cryptocurrency and we’re excited to work with such a fantastic company that cares passionately about its users, just like us.
Thank you for taking the time to read this announcement and being part of Electroneum.
Have a great week everyone!

Richard Ells

Founder & CEO, Electroneum
submitted by xterest27 to Electroneum [link] [comments]

Weekly Wrap 17/04

Market News
The economic impact of the global lockdown continues to be felt around the world. A further 5.2 million Americans filed for unemployment, according to the US Labour Department, taking the total to just over 22 million for the month and wiping out a decade of employment gains.
Bitcoin dropped to a two week low as the price neared $6400, with many speculating that it would breach the $6,000 level. However, bears were left disappointed as Bitcoin surged and almost reached $7,200. We will be watching the price for an upside break to $7,400. As expected, due to their high correlations other cryptoassets followed suit, with Ethereum, Chainlink and Binance Coin staging strong rebounds.
The price of gold reached a 7-year high as the price peaked to over $1,740 before falling again to the $1,680 region. The sharp pullback in prices came as the dollar was firmly higher, providing some resistance to the asset’s recent climb. Bulls’ next upside price objective will be a close in June futures above the solid resistance level of $1,750. Meanwhile, the price of oil continues to face severe pressure. Crude oil once again found itself beneath the $20 level, which placed additional stress on the stock market.
The S&P 500, which gained more than 12% last week, has shown relative inconsistency as prices surged and fell throughout this week. Markets closed on Thursday partially higher than the week prior. U.S. futures on Friday will be heavily influenced by President Trump’s announcement as he details plans to reopen the U.S. economy.
Industry News
Other News
submitted by Camaa to InvictusCapital [link] [comments]

Weekly Wrap 17/04

Market News
The economic impact of the global lockdown continues to be felt around the world. A further 5.2 million Americans filed for unemployment, according to the US Labour Department, taking the total to just over 22 million for the month and wiping out a decade of employment gains.
Bitcoin dropped to a two week low as the price neared $6400, with many speculating that it would breach the $6,000 level. However, bears were left disappointed as Bitcoin surged and almost reached $7,200. We will be watching the price for an upside break to $7,400. As expected, due to their high correlations other cryptoassets followed suit, with Ethereum, Chainlink and Binance Coin staging strong rebounds.
The price of gold reached a 7-year high as the price peaked to over $1,740 before falling again to the $1,680 region. The sharp pullback in prices came as the dollar was firmly higher, providing some resistance to the asset’s recent climb. Bulls’ next upside price objective will be a close in June futures above the solid resistance level of $1,750. Meanwhile, the price of oil continues to face severe pressure. Crude oil once again found itself beneath the $20 level, which placed additional stress on the stock market.
The S&P 500, which gained more than 12% last week, has shown relative inconsistency as prices surged and fell throughout this week. Markets closed on Thursday partially higher than the week prior. U.S. futures on Friday will be heavily influenced by President Trump’s announcement as he details plans to reopen the U.S. economy.
Industry News
Other News
submitted by Camaa to cryptotwenty [link] [comments]

US Tax Guide for ETH and other cryptocurrencies

Introduction:  
Greetings, fellow ethtraders! Happy New Year! In the next few months, taxpayers across the US will be filing their 2017 tax returns. As an Enrolled Agent and a ETH/cryptocurrency investor and enthusiast, I wanted to write up a brief guide on how your investments in ETH and other cryptocurrencies are taxed in the US.
 
 
1. Are ETH/cryptocurrency realized gains taxable?
Yes. The IRS treats virtual currency (such as cryptocurrency) as property. That means if you sell ETH, BTC, or any other cryptocurrency that has appreciated in value, you have realized a capital gain and must pay taxes on this income. If you held the position for one year or less, it is a short-term capital gain which is taxed at your ordinary income tax rate. If you held the position for more than one year, it is a long-term capital gain which is taxed at your long-term capital gains tax rate. In most cases, this is 15%, but could also be 0% or 20% depending on your specific ordinary income tax bracket.
 
2. If I sell my ETH for USD on Coinbase but do not transfer the USD from Coinbase to my bank account, am I still taxed?
Yes. The only thing that matters is that you sold the ETH, which creates a taxable transaction. Whether you transfer the USD to your bank account or not does not matter.
 
3. If I use my ETH to buy OMG or another cryptocurrency, is this a taxable transaction?
Most likely yes. See #4 below for a more detailed explanation. If assuming crypto to crypto trades are not able to be like-kind exchanged, then continue on to the next paragraph here.
This is actually two different transactions. The first transaction is selling your ETH for USD. The second transaction is buying the OMG with your USD. You must manually calculate these amounts. For example, I buy 1 ETH for $600 on Coinbase. Later on, the price of 1 ETH rises to $700. I transfer that 1 ETH to Bittrex and use it to buy 37 OMG. I have to report a capital gain of $100 because of this transaction. My total cost basis for the 37 OMG I purchased is $700.
 
4. If I use my ETH to buy OMG or other cryptocurrency, could that be considered a tax-free like-kind exchange?
Probably not. The new tax law says that like-kind exchanges only pertain to real estate transactions. This was done with Section 13303, which replaced “property” with “real property” for all of Section 1031 (page 72 near the bottom). My personal interpretation:
In 2018 and going forward, cryptocurrencies can definitely not be like-kind exchanged.
In 2017 and before, it is a very gray area. I personally am not taking the position that they can be like-kind exchanged, because if the IRS went after a taxpayer who did this, the IRS would probably win and the taxpayer would owe taxes, interest, and probably penalties on every single little gain made from trading one cryptocurrency for another.
Here is a great interpretation of why trading cryptocurrency for cryptocurrency is probably not a like-kind transaction.
In my opinion, the biggest factor is that like-kind exchanges must be reported on Form 8824 and not just ignored. Therefore, if a taxpayer is claiming like-kind exchanges on crypto to crypto exchanges, he or she would have to fill out a Form 8824 for each individual transaction of crypto to crypto, which would be absolutely cumbersome if there are hundreds or thousands of such trades.
Here is another article about like-kind exchanges.
Here is the American Institute of CPAs' letter to the IRS, dated June 10, 2016, asking them to release guidance on whether crypto to crypto can be like-kind exchanged or not. The IRS has not responded to the letter.
 
5. How do I calculate the realized capital gain or loss on the sale of my cryptocurrency?
The realized gain or loss is your total proceeds from the sale minus what you purchased those positions for (your cost basis). For example, you bought 1 ETH for $300 in June of 2017. In December of 2017, you sold that 1 ETH for $800. Your realized gain would be $800 - $300 = $500. Since you held it for one year or less, the $500 would be a short-term capital gain taxed at your ordinary income tax rate.
 
6. Which ETH's cost basis do I use if I have multiple purchases?
The cost basis reporting method is up to you. For example, I buy my first ETH at $300, a second ETH at $530, and a third ETH at $400. Later on, I sell one ETH for $800. I can use:
FIFO (first in first out) - cost basis would the first ETH, $300, which would result in a gain of $500.
LIFO (last in first out) - cost basis would be the third ETH, $400, which would result in a gain of $400.
Average cost - cost basis would be the average of the three ETH, $410, which would result in a gain of $390.
Specific identification - I can just choose which coin's cost basis to use. For example, I can choose the second ETH's cost basis, $530, which would result in the lowest capital gains possible of $270.
 
7. If I end up with a net capital loss, can I claim this on my tax return?
Capital gains and capital losses are netted on your tax return. If the net result of this is a capital loss, you may offset it against ordinary income on your tax return, but only at a maximum of $3,000 per year. The remaining losses are carried forward until you use them up.
 
8. What is the tax rate on my capital gains?
If long-term, the tax rate is 0%, 15%, or 20%, depending on your ordinary income tax bracket. If short-term, the tax bracket you’ll be in will depend on your total income and deductions. The ordinary income tax brackets are 10%, 15%, 25%, 28%, 33%, 35%, and 39.6% in 2017 and 10%, 12%, 22%, 24%, 32%, 35%, and 37% in 2018 and going forward.
Here are the 2017 and 2018 ordinary income tax brackets.
Here are the 2017 and 2018 long-term capital gains tax brackets.
Here is a detailed article on how the calculation of long-term capital gains tax work and how you can take advantage of the 0% long-term capital gains rate, if applicable.
 
9. If I mine ETH or any other cryptocurrency, is this taxable?
Yes. IRS Notice 2014-21 states that mining cryptocurrency is taxable. For example, if you mined $7,000 worth of ETH in 2017, you must report $7,000 of income on your 2017 tax return. For many taxpayers, this will be reported on your Schedule C, and you will most likely owe self-employment taxes on this income as well. The $7,000 becomes the cost basis in your ETH position.
 
10. How do I calculate income for the cryptocurrency I mined?
This is the approach I would take. Say I mined 1 ETH on December 31, 2017. I would look up the daily historical prices for ETH and average the high and low prices for ETH on December 31, 2017, which is ($760.35 + $710.12) / 2 = $735.24. I would report $735.24 of income on my tax return. This would also be the cost basis of the 1 ETH I mined.
 
11. Can I deduct mining expenses on my tax return?
If you are reporting the income from mining on Schedule C, then you can deduct expenses on Schedule C as well. You can deduct the portion of your electricity costs allocated to mining, and then you depreciate the cost of your mining rig over time (probably over five years). Section 179 also allows for the full deduction of the cost of certain equipment in year 1, so you could choose to do that if you wanted to instead.
 
12. If I receive ETH or other cryptocurrency as a payment for my business, is this taxable?
Yes. Similar to mining, your income would be what the value of the coins you received was. This would also be your cost basis in the coins.
 
13. If I received Bitcoin Cash as a result of the hard fork on August 1, 2017, is this taxable?
Most likely yes. For example, if you owned 1 Bitcoin and received 1 Bitcoin Cash on August 1, 2017 as a result of the hard fork, your income would be the value of 1 Bitcoin Cash on that date. Bitcoin.tax uses a value of $277. This value would also be your cost basis in the position. Any other hard forks would probably be treated similarly. Airdrops may be treated similarly as well, in the IRS' view.
Here are a couple more good articles about reporting the Bitcoin Cash fork as taxable ordinary income. The second one goes into depth and cites a US Supreme Court decision as precedent: one, two
 
14. If I use ETH, BTC, or other cryptocurrency to purchase goods or services, is this a taxable transaction?
Yes. It would be treated as selling your cryptocurrency for USD, and then using that USD to purchase those goods or services. This is because the IRS treats cryptocurrency as property and not currency.
 
15. Are cryptocurrencies subject to the wash sale rule?
Probably not. Section 1091 only applies to stock or securities. Cryptocurrencies are not classified as stocks or securities. Therefore, you could sell your ETH at a loss, repurchase it immediately, and still realize this loss on your tax return, whereas you cannot do the same with a stock. Please see this link for more information.
 
16. What if I hold cryptocurrency on an exchange based outside of the US?
There are two separate foreign account reporting requirements: FBAR and FATCA.
A FBAR must be filed if you held more than $10,000 on an exchange based outside of the US at any point during the tax year.
A Form 8938 (FATCA) must be filed if you held more than $75,000 on an exchange based outside of the US at any point during the tax year, or more than $50,000 on the last day of the tax year.
The penalties are severe for not filing these two forms if you are required to. Please see the second half of this post for more information on foreign account reporting.
 
17. What are the tax implications of gifting cryptocurrency?
Small gifts of cryptocurrency do not have a tax implication for the gift giver or for the recipient. The recipient would retain the gift giver's old cost basis, so it could be a good idea for the gift giver to provide records of the original cost basis to the recipient as well (or else the recipient would have to assume a cost basis of $0 if the recipient ever sells the cryptocurrency).
Large gifts of cryptocurrency could start having gift and estate tax implications on the giver if the value exceeds more than $14,000 (in 2017) or $15,000 (in 2018) per year per recipient.
Here's a good article on Investopedia on this issue.
An important exception applies if the gift giver gives cryptocurrency that has a cost basis that is higher than the market value at the time of the gift. Please see the middle of this post for more information on that.
 
18. Where can I learn even more about cryptocurrency taxation?
Unchained Podcast: The Tax Rules That Have Crypto Users Aghast
IRS Notice 2014-21
Great reddit post from tax attorney Tyson Cross from 2014
 
19. Are there any websites that you recommend in helping me with all of this?
Yes - I have used bitcoin.tax and highly recommend it. You can import directly from an exchange to the website using API, and/or export a .csv/excel file from the exchange and import it into the website. The exchanges I successfully imported from were Coinbase, GDAX, Bittrex, and Binance. The result is a .csv or other file that you can import into your tax software.
I have also heard good things about cointracking.info but have not personally used it myself.
 
20. Taxation is theft!
I can't help you there.
 
 
That is the summary I have for now. There have been a lot of excellent cryptocurrency tax guides on reddit, such as this one, this one, and this one, but I wanted to post my short summary guide on ethtrader which hopefully answers some of the questions you all may have about US taxation of ETH and other cryptocurrencies. Please let me know if you have any more questions, and I’d be happy to answer them to the best of my ability. Thank you!
Regarding edits: I have made many edits to my post since I originally posted it. Please refresh to see the latest edits to my guide. Thank you.
 
Disclaimer:
The information contained within this post is provided for informational purposes only and is not intended to substitute for obtaining tax, accounting, or financial advice from a professional.
Any U.S. federal tax advice contained in this post is not intended to be used for the purpose of avoiding penalties under U.S. federal tax law.
Presentation of the information via the Internet is not intended to create, and receipt does not constitute, an advisor-client relationship. Internet users are advised not to act upon this information without seeking the service of a tax professional.
submitted by Nubboi to ethtrader [link] [comments]

Interview with a few whales

I'm not going to tell you what they hold beside BitCoin because thats how my client got rich in the first place. This way I don't get accused of shilling or making shit up . I'm trying to bring everyone here the truth about how whales think. Or at least how some whales think.
One of my clients got me into Crypto. Him and his friends are whales. They were early BitCoiners , my client being the biggest one who purchased a $21,000,000 apartment building in Jersey City with Bitcoins when they were $700 each. He essentially paid 10 times as much for that building. However my client is worth over 250million . Collectively his buddies are worth over a Billion. He helped me with my first investment over a year ago. I blindly listened to him about ripple, and it paid off big time for me. This is the same guy who was urging me to buy Ant Shares(Neo) with my newly acquired riches from ripple back in July. I didn't listen because I was happy . Fuck me , I should've. I would definitely been a milionare by now. Whatever.
After finally getting a hold of my client to discuss crypto. (Its been a few months since we talked). He invited me out for drinks with him and his friends at a place in JC to discuss maintenance contracts at their properties. They wanted a new contract that was cheaper than who they were with now. We also tslked about Crypto!
They were all whales. Most of them were rich off regular investments in Stocks , and some came from wealthy families, and only him and one other person were once nobodies who struck it rich off Crypto. My client is only 36. I service all of his properties for heating and sir conditioning , and now I service his friends. 
We discussed a lot here, I took notes,
1. They all sell when one of their holdings pumps, then re buy after it dips.
No surprise there. Even little guys like me do that.
But they don't sell all of it, they usually sell off about 10%- 25% depending on the situation.
2. They are not short term holders.
When they believe in something , they stick to it long term. They only sell to re buy back the same thing, and increase their position.
**3. They keep about 10% of their holdings on exchanges.
Yes you heard that right. They have millions scattered on different exchanges. For quick liquidity.
The exchanges they trust the most are Kraken , and Binance.
The rest is kept in a mix of Hard wallets, paper wallets(not mew), mobile wallet (bread), and ledger nanos.
Some of their ledger nanos, and paper wallets are stored in actual banks.
4. They rarely/never join ICOs
They believe ICOs are only for suckers, or investors on the inside. 9 times out of 10 it dumps once its released. No surprise there.
Some however join IPOs, and have acted as angel investors. They said this is the only reason they would participate in an ICO but so far have not.
5. They don't want the market to dip
They would rather see Bitcoin stay up or stay the same price. They say that's when they make the most money. They say they have no intention of making the price drop. However, they do contribute to the price dropping when selling off their liquid holdings during dips, but usually re buy shortly after.
6. Market Manipulation/price supression
I had to ask several questions of what they think
All of their colleagues , and associates are long term holders in both stocks, crypto currencies, and real estate.
Can they manipulate the market if they wanted to?
Yes they can, but they said "we are being watched". Their BTC addresses are audited , and tracked. If they got caught they could be in alot of trouble. They say, It falls under the same category of pump and dump schemes.
would they do it if they were allowed No, it only hurts the market, and deters adoption. Its a tricky game. They also own a couple of firms dealing with clients holdings. Its against their interests. The most money to be made is when the market is in good shape.
Do big banking institutions buy crypto currencies, and if so , are they involved in market manipulation?
Yes, of course they buy crypto currencies. Any market you can think of, the banks have a piece. A few of our clients are banking institutions, mostly smaller banks, but we have clients who work for bigger banks such as JP Morgan who are heavily involved.
Manipulation ? No, like us they make the most money when the market is up. The more people involved, the more profits, but they do take advantage of bad news such as the banning usage of Credit card transactions, but they are just following protocol. They have heavy restrictions when using credit to buy stocks, or uses for gambling such as at a casino.
how do they take advantage of the bad news for banning CCs for crypto
The legal way, they release the news first, then sell immediately after. Its illegal to sell off before they release news that effect the markets. Its considered insider trading, but believe me, they are first at the table to sell off, and the first to buy after the dip.
wouldn't you consider that an unfair advantage?
Yes and No. Its totally legal, but like we said, they are first to the table to sell, and they have an advantage to sell at the best time. There should be a 1 day waiting period but its very complicated.
do some people get the word on the inside and sell before the news anyway?
most certainly, but not on the wide scale that you might think. For instance it could be a regular clerk working for the bank that has small holdings, and they will sell. The big guys always wait until the news is released first.
you said you believe individulas/ larger institutions in other countries are heavily involved in manipulation. What type of people?
Hedge fund managers , criminal organizations, maybe some governments of smaller countries, and institutions heavily involved in derivitives markets are most likely the culprit.
how's so?
They make tons of money off the market. They don't care about regular people. Securing in the lowest buy price possible is the main goal. They know they can secure in selling BTC at prices for $10,000 per , and then dip the price of BitCoin to $7000. Then repeat. There's Billions to be made in the Derivitives(futures) market. They might have insider information which is going to cause a temporary drop of $1000 . it might last 2 weeks, and they will capitalize on that opportunity to make contracts, then they will buy it back from the same people for cheaper off the market, then sell on the market after it pumps. Its a vicious destructive cycle.
So how do criminals msnipulste the msrket?
Spreading negative fake rumors of a ban is the easiest way, theres even some smaller news agencies that are muscled into releasing this news, its complicated . We all know it happens, but these people can't really be stopped. These arent the type of people you want to mess with. There is too many powerful people involved and will most likely get away with everything they do. Thats why the worlds futures market is 10 times what the world produces in a year.
wait, but if they keep doing this, then eventually crypto will just die off right?
No not exactly. If they let it die then theres no more money to be made off of it . there's a limit. They will let it rise again before they start manipulating it.
how much money do you think was already made off futures?
Not sure, but More money than the total market worth is now.
so back to bankers buying crypto. So basically banking institutions are seemingly publically against crypto currencies but they are actively buying?
Yes haha, like we said. Most statements released to the public are just following protocol. They speak as a corporation, not as individuals.
7. Do you ever get insider tips?
Yes of course, but not like you may think. For instance we might get news of a project being almost complete , and we know they will release the news so we will buy some, and sell the news after the pump. However we aren't dumping millions into the rumor. A couple hundred thousand is good enough. Money is money.
so buying the rumor and selling the news is true?
Yes entirely.
9. Is crypto a threat to our monetary system? We have been asked this several times. No, at least not ours. Most people are in it so they can cash out for fiat. Its as big as a threat as stocks are. Which is not a threat. People love their fiat, and so do we. Can you imagine recieving your pay check in BitCoin then having it lose value on a rumor right before you go to spend it?
10. Will stocks go crypto one day?
Yes we believe stocks will eventuslly become digital coins, there are many people currently working on it, but it will be subject to the same regulation stocks are hence the SEC imposing regulations on exchanges who hold securities. There's already platforms for this very reason. But Its going to take a few years . theres too many security issues at the moment. The last thing we need is someone hacking, and minting stocks . It would be a disaster .
What about poloniex?
Yes for sure. They are looking to be the biggest one for crypto s classified as securities.
so this is good news for the entire market?
Yes and no. There's too many shit coins that exist even in the top 100. Only a handful will actually be used for everyday transactions. Not all will die, but they aren't going to give the returns most people think. The rise of legit tokens will bring fall to all the worthless Crypto s that dont even have a working platform. The stock markets went through this once during the dot com boom. All you needed was a good website, and an Idea. Not All, but some Crypto s are doing the same exact thing, and a lot of people who own them, and shill them are going to be very disappointed and lose alot of money
11. What's the best way to know if a crypto will thrive in the future
They should have at least a working prototype that proves the idea can work, and very beneficial once complete. The ones that are already widely used will most likely survive. Larger existing platforms that issued tokens for utility on their platforms are also very good holds as long as the companies that do so continue to expand. Just like companies on the stock market. You will always see returns when they are expanding. Its when they stop expanding is when its time to move on. Bitcoin while not a company is expanding in adoption. It has alot more room to grow.
The end. So you see, not all whales are manipulating the market. Its most likely against their interest to suppress the market.
And just like us, they have the same theories of whos manipulating the market .
Yes banks are assholes. They go public against it, then buy when its low. This is why you should take bad news with of grain of salt.
submitted by JuicySpark to CryptoCurrency [link] [comments]

Elaborating on Datadash's 50k BTC Prediction: Why We Endorse the Call

As originally published via CoinLive
I am the Co-Founder at CoinLive. Prior to founding Coinlive.io, my area of expertise was inter-market analysis. I came across Datadash 50k BTC prediction this week, and I must take my hats off to what I believe is an excellent interpretation of the inter-connectivity of various markets.
At your own convenience, you can find a sample of Intermarket analysis I've written in the past before immersing myself into cryptos full-time.
Gold inter-market: 'Out of sync' with VIX, takes lead from USD/JPY
USD/JPY inter-market: Watch divergence US-Japan yield spread
EUUSD intermarket: US yields collapse amid supply environment
Inter-market analysis: Risk back in vogue, but for how long?
USD/JPY intermarket: Bulls need higher adj in 10-y US-JP spread
The purpose of this article is to dive deeper into the factors Datadash presents in his video and how they can help us draw certain conclusions about the potential flows of capital into crypto markets and the need that will exist for a BTC ETF.
Before I do so, as a brief explainer, let's touch on what exactly Intermarket analysis refers to:
Intermarket analysis is the global interconnectivity between equities, bonds, currencies, commodities, and any other asset class; Global markets are an ever-evolving discounting and constant valuation mechanism and by studying their interconnectivity, we are much better positioned to explain and elaborate on why certain moves occur, future directions and gain insights on potential misalignments that the market may not have picked up on yet or might be ignoring/manipulating.
While such interconnectivity has proven to be quite limiting when it comes to the value one can extract from analyzing traditional financial assets and the crypto market, Datadash has eloquently been able to build a hypothesis, which as an Intermarket analyst, I consider very valid, and that matches up my own views. Nicolas Merten constructs a scenario which leads him to believe that a Bitcoin ETF is coming. Let's explore this hypothesis.
I will attempt to summarize and provide further clarity on why the current events in traditional asset classes, as described by Datadash, will inevitably result in a Bitcoin ETF. Make no mistake, Datadash's call for Bitcoin at 50k by the end of 2018 will be well justified once a BTC ETF is approved. While the timing is the most challenging part t get right, the end result won't vary.
If one wishes to learn more about my personal views on why a BTC ETF is such a big deal, I encourage you to read my article from late March this year.
Don't Be Misled by Low Liquidity/Volume - Fundamentals Never Stronger
The first point Nicholas Merten makes is that despite depressed volume levels, the fundamentals are very sound. That, I must say, is a point I couldn't agree more. In fact, I recently wrote an article titled The Paradox: Bitcoin Keeps Selling as Intrinsic Value Set to Explode where I state "the latest developments in Bitcoin's technology makes it paradoxically an ever increasingly interesting investment proposition the cheaper it gets."
However, no article better defines where we stand in terms of fundamentals than the one I wrote back on May 15th titled Find Out Why Institutions Will Flood the Bitcoin Market, where I look at the ever-growing list of evidence that shows why a new type of investors, the institutional ones, looks set to enter the market in mass.
Nicholas believes that based on the supply of Bitcoin, the market capitalization can reach about $800b. He makes a case that with the fundamentals in bitcoin much stronger, it wouldn't be that hard to envision the market cap more than double from its most recent all-time high of more than $300b.
Interest Rates Set to Rise Further
First of all, one of the most immediate implications of higher rates is the increased difficulty to bear the costs by borrowers, which leads Nicholas to believe that banks the likes of Deutsche Bank will face a tough environment going forward. The CEO of the giant German lender has actually warned that second-quarter results would reflect a “revenue environment [that] remains challenging."
Nicholas refers to the historical chart of Eurodollar LIBOR rates as illustrated below to strengthen the case that interest rates are set to follow an upward trajectory in the years to come as Central Banks continue to normalize monetary policies after a decade since the global financial crisis. I'd say, that is a correct assumption, although one must take into account the Italian crisis to be aware that a delay in higher European rates is a real possibility now.
![](https://coinlive.io/ckeditor_assets/pictures/947/content_2018-05-30_1100.png)
Let's look at the following combinations: Fed Fund Rate Contract (green), German 2-year bond yields (black) and Italy's 10-year bond yield (blue) to help us clarify what's the outlook for interest rates both in Europe and the United States in the foreseeable future. The chart suggests that while the Federal Reserve remains on track to keep increasing interest rates at a gradual pace, there has been a sudden change in the outlook for European rates in the short-end of the curve.
While the European Central Bank is no longer endorsing proactive policies as part of its long-standing QE narrative, President Mario Draghi is still not ready to communicate an exit strategy to its unconventional stimulus program due to protectionism threats in the euro-area, with Italy the latest nightmare episode.
Until such major step is taken in the form of a formal QE conclusion, interest rates in the European Union will remain depressed; the latest drastic spike in Italy's benchmark bond yield to default levels is pre-emptive of lower rates for longer, an environment that on one hand may benefit the likes of Deutsche Bank on lower borrowing costs, but on the other hand, sets in motion a bigger headache as risk aversion is set to dominate financial markets, which leads to worse financial consequences such as loss of confidence and hence in equity valuations.
![](https://coinlive.io/ckeditor_assets/pictures/948/content_2018-05-30_1113.png)
Deutsche Bank - End of the Road?
Nicholas argues that as part of the re-restructuring process in Deutsche Bank, they will be facing a much more challenging environment as lending becomes more difficult on higher interest rates. At CoinLive, we still believe this to be a logical scenario to expect, even if a delay happens as the ECB tries to deal with the Italian political crisis which once again raises the question of whether or not Italy should be part of the EU. Reference to an article by Zerohedge is given, where it states:
"One day after the WSJ reported that the biggest German bank is set to "decimate" its workforce, firing 10,000 workers or one in ten, this morning Deutsche Bank confirmed plans to cut thousands of jobs as part of new CEO Christian Sewing's restructuring and cost-cutting effort. The German bank said its headcount would fall “well below” 90,000, from just over 97,000. But the biggest gut punch to employee morale is that the bank would reduce headcount in its equities sales and trading business by about 25%."
There is an undeniably ongoing phenomenon of a migration in job positions from traditional financial markets into blockchain, which as we have reported in the past, it appears to be a logical and rational step to be taken, especially in light of the new revenue streams the blockchain sector has to offer. Proof of that is the fact that Binance, a crypto exchange with around 200 employees and less than 1 year of operations has overcome Deutsche Bank, in total profits. What this communicates is that the opportunities to grow an institution’s revenue stream are formidable once they decide to integrate cryptocurrencies into their business models.
One can find an illustration of Deutsche Bank's free-fall in prices below:
![](https://coinlive.io/ckeditor_assets/pictures/946/content_2018-05-30_1052.png)
Nicholas takes notes of a chart in which one can clearly notice a worrying trend for Italian debt. "Just about every other major investor type has become a net seller (to the ECB) or a non-buyer of BTPs over the last couple of years. Said differently, for well over a year, the only marginal buyer of Italian bonds has been the ECB!", the team of Economists at Citi explained. One can find the article via ZeroHedge here.
![](https://coinlive.io/ckeditor_assets/pictures/953/content_2018-05-30_1451.png)
Equities & Housing to Suffer the Consequences
Nicholas notes that trillions of dollars need to exit these artificially-inflated equity markets. He even mentions a legendary investor such as George Soros, who has recently warned that the world could be on the brink of another devastating financial crisis, on lingering debt concerns in Europe and a strengthening US dollar, as a destabilizing factor for both the US's emerging- and developed-market rivals.
Ray Dalio, another legend in the investing world and Founder of Bridgewater Associates, the world’s largest hedge fund, "has ramped up its short positions in European equities in recent weeks, bringing their total value to an estimated $22 billion", MarketWatch reports.
Nicholas extracts a chart by John Del Vecchio at lmtr.com where it illustrates the ratio between stocks and commodities at the lowest in over 50 years.
As the author states:
"I like to look for extremes in the markets. Extremes often pinpoint areas where returns can be higher and risk lower than in other time periods. Take the relationship between commodities and stocks. The chart below shows that commodities haven not been cheaper than stocks in a generation. We often hear this time it is different” to justify what’s going on in the world. But, one thing that never changes is human nature. People push markets to extremes. Then they revert. "
![](https://coinlive.io/ckeditor_assets/pictures/954/content_2018-05-30_1459.png)
Bitcoin ETF the Holy Grail for a Cyclical Multi-Year Bull Run
It is precisely from this last chart above that leads Nicholas to believe we are on the verge of a resurgence in commodity prices. Not only that but amid the need of all this capital to exit stocks and to a certain extent risky bonds (Italian), a new commodity-based digital currency ETF based on Bitcoin will emerge in 2018.
The author of Datadash highlights the consideration to launching a Bitcoin ETF by the SEC. At CoinLive, our reporting of the subject can be found below:
"Back in April, it was reported that the US Securities and Exchange Commission (SEC) has put back on the table two Bitcoin ETF proposals, according to public documents. The agency is under formal proceedings to approve a rule change that would allow NYSE Arca to list two exchange-traded funds (ETFs) proposed by fund provider ProShares. The introduction of an ETF would make Bitcoin available to a much wider share of market participants, with the ability to directly buy the asset at the click of a button, essentially simplifying the current complexity that involves having to deal with all the cumbersome steps currently in place."
Nicholas refers to the support the Bitcoin ETF has been receiving by the Cboe president Chris Concannon, which is a major positive development. CoinLive reported on the story back in late March, noting that "a Bitcoin ETF will without a doubt open the floodgates to an enormous tsunami of fresh capital entering the space, which based on the latest hints by Concannon, the willingness to keep pushing for it remains unabated as the evolution of digital assets keeps its course."
It has been for quite some time CoinLive's conviction, now supported by no other than Nicholas Merten from Datadash, that over the next 6 months, markets will start factoring in the event of the year, that is, the approval of a Bitcoin ETF that will serve as a alternative vehicle to accommodate the massive flows of capital leaving some of the traditional asset classes. As Nicholas suggests, the SEC will have little choice but to provide alternative investments.
Bitcoin as a Hedge to Lower Portfolios' Volatility
Last but not least, crypto assets such as Bitcoin and the likes have an almost non-existent correlation to other traditional assets such as stocks, bonds, and commodities, which makes for a very attractive and broadly-applicable diversification strategy for the professional money as it reduces one’s portfolio volatility. The moment a Bitcoin ETF is confirmed, expect the non-correlation element of Bitcoin as a major driving force to attract further capital.
Anyone Can Be Wrong Datadash, But You Won't be Wrong Alone
Having analyzed the hypothesis by Nicholas Merten, at CoinLive we believe that the conclusion reached, that is, the creation of a Bitcoin ETF that will provide shelter to a tsunami of capital motivated by the diversification and store of value appeal of Bitcoin, is the next logical step. As per the timing of it, we also anticipate, as Nicholas notes, that it will most likely be subject to the price action in traditional assets. Should equities and credit markets hold steady, it may result in a potential delay, whereas disruption in the capital market may see the need for a BTC ETF accelerate. Either scenario, we will conclude with a quote we wrote back in March.
"It appears as though an ETF on Bitcoin is moving from a state of "If" to "When."
Datadash is certainly not alone on his 50k call. BitMEX CEO Arthur Hayes appears to think along the same line.
On behalf of the CoinLive Team, we want to thank Nicholas Merten at Datadash for such enlightening insights.
submitted by Ivo333 to BitcoinMarkets [link] [comments]

The Case for XRP in 2018

Cryptocurrencies have grown exponentially not only in price this past year but also in public awareness and popular attention. The novel feeling to an emerging financial and technological market is reminiscent of the rise of the Internet with its innovative potential. In turn, a heightened collective societal awareness of this new innovative potential has led to a change in the nature of the market dynamics of cryptocurrencies. As Heisenberg’s Uncertainty Principle posits, “The observation of a phenomenon changes the phenomena itself.” The observation of thousands of young millennials, and now middle-aged investors, will only accelerate the rise of cryptocurrencies as times goes on.
Today, we are seeing the real-world effects of a newfound intrigue into cryptocurrencies. This new interest is causing a narrowing of the divergence between truth and fiction over accurate knowledge about cryptocurrencies. The force drawing this gap narrower each day is an increased dissemination of truthful information that has generated legions of individual investors into new cryptocurrency markets; in particular, Ripple’s XRP.
As the public expands its understanding of Ripple’s XRP, the capital inflow from both individual and institutional investors combined will likely grow to levels that will exponentially grow the liquidity of XRP and, as a byproduct, its price.
Here, in this report, I will provide an overview and analysis of Ripple’s XRP and the implications Q4 2017 and the year 2018 and beyond hold for the future of XRP and its price.
THE CONCEPT: WHAT IS XRP?
XRP is the digital asset used by Ripple to offer financial institutions an option for liquidity to conduct cross-border payments. It is predominantly used for Ripple’s solution for the minimization of liquidity costs. In contrast to most other cryptocurrencies, XRP’s application here features a real-world applicability that extends to real-world transactions. It is used for the xRapid solution provided by Ripple, and is the only one of the three solutions Ripple offers (The others are xCurrent and xVia) that employs the use of XRP.
THE RATIONALE: WHY XRP?
There is a myriad of factors that distinguish XRP from other cryptocurrencies and establish it as a forerunner to what may become the dominant cryptocurrencies in the years that lie ahead.
Cost: Comparatively, XRP has the lowest cost per transaction at $0.0004. In contrast, BCH is $0.26, LTC is $0.37, DASH is $0.64, ETH is $0.96, and BTC is $28.23.
Scalability: XRP can handle over 1,500 transactions per second whereas BCH can handle 24 per second, LTC can handle 56 per second, DASH can handle 10 per second, ETH can handle 16 per second, and BTC can handle 24 per second.
Speed: XRP can conduct transactions at a rate of 3 seconds per transaction, BCH at a rate of 58 minutes per transaction, LTC at 17 minutes per transaction, DASH at 15 minutes per transaction, ETH at 2 minutes per transaction, and BTC 1 hour and 6 minutes per transaction.
XRP’s availability is ever-expanding. It is currently available on over 50 exchanges including Bitstamp, Bithumb, Bittrex, Binance, Bitfinex, Kraken, and Poloniex. The volume of XRP availability is, in addition, in an expansionary phase. The primary location of exchange volume is concentrated in Asia; in particular, South Korea. However, as mainstream media attention increases, so will American interest as well. There already have been tell-tale signs indicative in news outlets that have covered Ripple recently in the wake of XRP’s rise in CNBC, Bloomberg, Forbes, Investopedia, and Yahoo Finance.
Simply consider the mania generated by the media attention to Bitcoin. Repetitive news stories featured on CNBC, Bloomberg, CNN, CBS, and other mainstream media news outlets. Countless articles disparaging it as a bubble and hailing it as a force that could deconstruct the financial apparatus governed by the Federal Reserve and other central banks. Now, consider the results of media attention directed towards the substantive information behind XRP. Once news segments and articles are shown and written that illustrate the comparative superiority of XRP to other cryptocurrencies, then the viewers and readers will likely flock to XRP in pursuit of acquiring a tried, tested, and proven cryptocurrency with real-world usage.
In turn, a virtuous circle intensifying capital inflow to XRP is predictable and probably to occur. We can expect FOMO to rise and a number of oscillations up and down for the price to unfold. Nevertheless, the price of XRP is bound to not only remain but rather accelerate its demonstrated upwards price trajectory pushing us to new heights.
Additionally, if the collective fear among cryptocurrency investors materializes, that is, if new regulations are imposed on our activities, then Ripple is stand to likely gain. Dr. Nassim Nicholas Taleb, a scholar and risk analyst writes about a concept called “Antifragility.” Antifragility is a term used to describe things that gain from disorder. Considering Ripple’s ties to financial institutions and regulators, it wouldn’t be too far-off to speculate that XRP is positioned to gain if such a black swan event were to occur.
FURTHER REASONS TO ADVANCE THE CASE FOR XRP:
Financial institutions, renown investors, and accomplished financiers have already taken notice of XRP. Former Federal Reserve Chairman Ben Bernanke has advocated on Ripple’s behalf. Zoe Cruz, former president for institutional securities and wealth management at Morgan Stanley and former global head of fixed income, commodities, and foreign exchange has joined Ripple’s Board of Directors. She has been named to Forbes list of Most Powerful Women for three years straight.
Perhaps most notably, a consortium of 61 banks – organized by SBI Ripple Asia – will be adopting Ripple’s technology to settle transactions between its members with the eventual goal of applying XRP to usage. Mr. Yoshitaka Kitao, the CEO, Executive Chairman, and President has publicly stated, “Forget about bitcoin, we’re all in on XRP!” In fact, SBI has already confirmed that XRP will be put in usage in Spring 2018. If successful, expect the price to reflect it.
Moreover, TechCrunch Founder Michael Arrington has, as of November 2017, announced a $100 million XRP hedge fund. His efforts have already raised $50 million which will engender a ripple effect of new large net-worth individual and institutional investors. The entity will be called Arrington XRP Capital and new information about its activities are set to be released in the months that lie ahead.
Also, David Schwartz, Ripple’s Chief Cryptographer, has said that there are two major “household” companies (Not financial institutions) that will be announced in Q4. This is likely to provide a substantial boon to XRP.
Finally, the Chief Technology Officer of Ripple, Stefan Thomas, has said that in 2018 there will be a “big push on XRP.” For years, Ripple has kept a relative silence in expressing the superiority of XRP. 2018 will be different. 2018 is bound to be Ripple’s year. I expect the price to rise as high as $10 and as low as $4.
At any rate, this report only scratches the surface of Ripple and XRP’s potential. For far more nuanced and in-depth analysis and information, I suggest reading from Ripple firsthand at www.ripple.com and perusing the best blog on XRP itself at https://xrphodor.wordpress.com/
To the moon, we go.
SOURCE: https://cellardoorway.com/2017/12/24/the-case-for-ripples-xrp-a-brief-overview/
submitted by OttoVonBismarck- to Ripple [link] [comments]

BitMax.io & Lambda Joint AMA

BitMax.io & Lambda Joint AMA
George Cao :Let’s welcome lambda team . Xiaoyang and Lucy
Lambda: Hello friends from BitMax ~~ I am Lucy Wang, Co-founder and CMO of Lambda. I am very happy to e-meet with you here and thx for George's invitation. I on behalf of Lambda wish all of you a merry Christmas and prosperous new year in 2019
George Cao: Great. I am a bit surprised to see a big volume day yesterday Christmas. Seems our users didn’t take a break even on holidays :)
Lambda: I'd like to take this opportunity to introduce myself first, I have over 14 years of progressive career development with global leading enterprise software / service organizations as well as VC-backed start-up ventures, including HP, Oracle, and SAP. Before Lambda I was CMO/GM at two enterprise SaaS start ups in China backed by top VCs.
And my partner Mr. He Xiaoyang, who is the founder of Lambda, he is a well-known expert in infrastructure and open source software in China. Prior to Lambda, he was the co-founder of OneAPM, a fast-growing infrastructure software focusing on ITOM (IT operation management) in China. OneAPM is known as the “New Relic or AppDynamics of China” and the company has received strong VC backing from Matrix Partners, Chengwei Capital, and Qiming Venture. Prior to his entrepreneur experiences, Mr. HE worked at BEA as a R&D software engineer. In addition, Mr. HE is also a blogger with strong following in China and some of his articles have been published by major media such as Forbes China, 36Kr, Sina, etc.
Lambda idea was born at the end of year 2017 and the product development started from the beginning of 2018. Now let me talk about Lambda idea and what we do
Lambda, is the leading decentralized infrastructure project providing secure, reliable, and infinitely scalable decentralized storage network that enables data storage, data integrity check, security verification, and marketplace for storage-related services on the Lambda Chain Consensus Network.
In recent years, there have been frequent data leakage problems in major Internet platforms at home and abroad, and even business giants such as Facebook and Marriott have not been spared. Returning the value of data to data owners is an inevitable trend in line with human pursuit of freedom. The block-chain technology with P2P features provides an opportunity for this, and this area will be highly valued by the industry in the next few years. Lambda is the only provider of block-chain storage infrastructure projects in China. It is sometimes referred as “File-coin of China”or “File-coin 2.0”.our vision is to return the value of data to the data owner, with this vision in mind, our mission is to promote the decentralization of the Internet, with the goal of creating a storage infrastructure for the next generation of block-chain.
After the Lambda project launch in early 2018, it has received strong support by well-known strategic and financial investors including Bitmain, Viking Capital, FBG Capital, Bluehills, Zhen Fund, FunCity Capital, Ceyuan Digital Fund, BlockVC, INBlockChain, DATA Foundation, Bitcoin World, Reflextion Capital, etc. To date, Lambda has received investment funding in excess of $10M.

https://preview.redd.it/ynaos7rps2721.png?width=1267&format=png&auto=webp&s=77360b7cdf06c288e8c25675f94f5fb9d3d02137
n all the existing decentralized storage projects that are aiming to give a solution to this problem worldwide, Lambda is the first ever to announce its LPDP ( Lambda Provable Data Possession )
George Cao: I see we share several investors in common, So 2019 q1-q2 will be a big milestone for lambda
Lambda: Provable Data Possession (PDP) and Proofs of Retrievability (POR) are critical to efficient decentralized data storage and its implementation, which is the essential difference between centralized network projects and real decentralized storage. Prior to Inter-planetary
File System (IPFS), Lambda launched its minimum viable product (MVP) of core functions in the third quarter of 2018, and has been continuously upgrading and optimizing this in block-chains in a multi-role environment.
File-coin is our main competitor, here is a chart shows the progress comparison FYI

https://preview.redd.it/ewmyh9tqs2721.png?width=1267&format=png&auto=webp&s=cddc52a6d613196f6c0cbf870da42a5b82a8aaa6
For those who have interest to know more about Lambda's technical innovations, they can be find in our keep updating FAQ document posted on Medium, and I copied her FYI
1.Innovatively designed the Validator role which provides verification service for storage proof and the Validator replaces storage miner as the full-time storage proof result verifier, this greatly improves the performance of the storage and retrieval system.
2.In response to the limitations of the PDP algorithm, Lambda innovatively created a consensus network on the block-chain and used the validators role to replace the "TPA" in the PDP algorithm.
3.Innovatively modified the PDP algorithm from synchronous to asynchronous communication, which greatly reduces the communication traffic for Challenge in the system. Use of chain data as a random seed for storage miners to issue Challenge themselves addresses the randomness of TPA challenges.
4.Innovatively upgraded the PDP algorithm from periodic verification to a verification set generated by the miners to submit the verification result at one time, and fully realize the Proof-Of-Space-Time verification.
on top of all the technical, Lambda creates a consensus network where data can be stored, storage space can be rented on the basis of a marketplace built on block-chain.
In the Marketplace, the transaction process is: storage miners pledge hard disk sectors to the consensus network, and place orders and sell their own storage space in the Marketplace; storage users initiate purchase requests, complete the matching of storage requests through the Marketplace, and store data in the space of the storage miners.
Different from other block-chain applications, Lambda is a storage mining project, we have miners mine on Lambda network. Earn LAMB tokens by contributing on the network, and users who have data storing requirements pay Lamb tokens to purchase services accordingly.
The price of Lamb token not only rely on the exchanges but also supported by our miners who are doing works on the network.
There are four roles in the Lambda mining network: storage miners (providers of storage space), verification miners (ensuring the integrity and security of data and packaging transactions), retrieval miners (providing download bandwidth), and users (storage buyers). 1024 verification miners promoted from storage miners constitute the Lambda-chain consensus network. So you will see three types of miners serve our users from all over the world.
The key milestones we are looking at is the launch of test-net, where miners can start mining and earn testing Lamb tokens, the date will be around end of Jan. 2019 and main network will go live in Q2, 2019, most likely in Apr.
Regarding our partnership, In the academic field, we have established a strategic partnership with Beijing Institute of Technology (BIT), which is well known in China for its engineering and computer science research programs, to conduct research into centralized storage.
In the commercial field, Lambda has established a strategic collaboration with IOST, a well-known public blockchain project, and Perlin, a super computing platform, and started to conduct pilot projects for decentralized application (DAPP) companies such as DATA and BCV. Lambda also has close ties to many leading Internet data centers (IDCs) in China. They join the Lambda network as miners and take advantage of their surplus server capacity to engage in the Lambda network ecology.
Q: Will the rest of the code be open sourced? If so when ?
Lambda: we have released the codes of core function module, the test net codes will be released gradually in Jan. pls stay tuned with our official github
Q: What can Lamb tokens be used for?
Lambda: Lambs are tokens in the Lambda ecosystem, which are mainly used in the following scenarios:
A. Users of services in the Lambda ecosystem have to pay with Lambda tokens.
B. Providers of storage services in the system have to pledge a certain number of tokens.
C. Verification nodes in the system have to pledge a certain number of tokens.
D. Verification nodes can obtain a certain number of tokens as accounting rewards.
E. Storage nodes get a certain number of tokens based on their storage capacity and their service level agreements (SLAs).
F. Other roles in the Lambda ecosystem can also obtain a certain number of tokens based on their contributions.
Q: What more incentives does miner gets to mine or rent storage on Lambda?
Lambda: every miner stars from storage miner on Lambda network, they get paid by providing storage space, when their business getting bigger, system will select the top 1024 storage miners and promote them to validator, who will get block generation rewards from system.
Q: how are the 1024 miners selected? Doesn't this become more centralised?
Lambda: we did a survey to the Chinese miners, they mainly fall into two groups, either are waiting FileCoin to go live with purchased mining machine idle at home or they are doing hard drive or graphic cards mining, which has a high requirement to the hardware standard. To mine on Lambda, you need a mining machine ( computer ) that has big storage space ( because the bigger the higher probability you'll be promoted to be a validator ) and the connection to the internet
Q: How much is initial supply?
Lambda: Lambda did two rounds of fund raising, private investors have a lock up terms of 2+4+4 meaning the first 20% of tokens will only be released 2 months listing on exchange. so on the day one listing till 2 months there will be only around 0.5% initial circulation, and after 2 months, 5% in total. in addition to that, as we are recruiting miners to join our network, actually ppl have been in a situation where they can't wait to mine on our testnet. with the mining mechanism we have, miners need to buy Lamb token to get their mining work started, because a certain amount of pledge need to be made
Q: What partnership will lambda and bitmax have in the future?
Lambda: We value the way BitMax doing things and care about projects, we feel like we found the right exchange to be listed, in particular an initial listing. we will work with BitMax and do some joint campaigns to boost the community
George: We have great chemistry with lambda team.
Q: And are you still primary list in there, I heard the list was delay? Is it related to Huobi?
Lambda: you are right, it is related to Huobi, but one thing you can be assured of is that our initial listing on BitMax wont change, but most likely a joint listing with Huobi.
Q: what about the time of primary list?
Lambda: we will primarily list very soon, we are targeting end of this week, now we are in the middle of some technical integration with Huobi
George: We can assure everyone that our team will do our best to protect our investors and serve our listing projects. The promise does not change whether or not if we co-list with huobi.
Q: We get reward to mine ? Any incentive? For testnet
Lambda: Yes, you have two ways obtain Lamb tokens, buy from exchange and earn more from mining, but firstly you have to buy Lamb on BitMax haha. Are you asking the reward from testnet by mining on it? yes, you will get test Lamb token, and they can be redeemed to Lamb token with a ratio that will be specified shortly. on Lambda official website www.lambda.im, we have whitepaper, besides that we also have economic whitepaper to explain how the lambda economic system runs, on Dec. 28 we will launch our yellow paper where we will demonstrate the detailed technical realization and all the parameter setting for mining on Lambda
Q: What are the implications if a miners rig goes offline or they decide to stop?
Lambda: If miners rig goes off, they will not get the reward from the corresponding generated block, if they do cheating there will be punishment from the system, and if they decide to quit, the pledge will be returned
Q: Lambda planning to have own FS?
Lambda: Yes, FS and consensus network is separate. validators and marketplace are on the consensus network, while Files are in the File System.
Q: Is Lambda GDPR friendly?
Lambda: yes, we are
Q: Hi can u explain what’s the requirements of decentralized data . Do You think big companies will like to use lambda services .... or it’s for medium level enterprises as big companies will go for their in house system with their reliable nodes ...
Lambda: this is a good question, from I seeing it, ppl call out the protection of privacy, it is a trend and it takes steps. Lambda has two big groups of prospects users, one is DAPPs, another is the general industries such as big data, AI, IoT, Games, Financial, etc, as long as they need massive data storage demand, Lambda has the opportunity, data storage is expensive, especially when we are talking about big data, a lot of companies will value the cost in this area very much. currently we have lighthouse customer like DATA, BCV, VVshare, in the very near future, a game that is developed by Lambda team will also go live on Lambda network. from the BD perspective, Lambda will create a satellite network ( you can take it as channel network ) to bring us customers, we have a few reaching out to us already
Q: Why suddenly launched on Huobi
George Cao: I believe lambda team has its own consideration. Projects esp in bear market are facing pressures from different parties. Investors users exchanges. Not everything is under projects control. What we can do as an exchange is to stand by our partners and fully support them down the road
Lambda: thx for the answer
Q: I think you have made a great choice working with bitmax. Bitmax have really helped push new
coins and their site in general with good PR, marketing and reward/airdrop promotions
Lambda: strongly agree with you
Q: GDPR has taken over the EU and the UK so that is very important
Lambda: you are right, so we see to be GDPR friendly, which is one of our differentiator from FileCoin
Q: Being GDPR friendly , European market is a go for lambda
Lambda: I have this plan to develop European market by having a Raspberry program, it is still in planning.
George Cao: Let’s take a last question and move to lambda community:) And as usual we will pick 3 best questions. We will send out 1000 800 and 500 btmx. @lambda do you want to pick 3 questions ?
Q: Recent partnerships are interesting , can you tell us about coming q1 2019 both in terms of technical and marketing developments ?
Lambda: from Marketing side, we are focusing on Chinese miners community and potential European market ( like I said still in construction ) Korean market is another, and US market to go along our compliance path, Lambda has been strictly abide by the regulations. from technical side, the most important task we are targeting is the main network launch as planned
George Cao: Thanks everyone for your time. It’s a great ama as usual. We do have the best community. We will pick 3 winners and we will announce here after we finish ama in lambda community
Lambda: thank you all for your time to participate the AMA, I had a great time with you, see you friends and have a nice day.
George Cao: Hello everyone, Merry Christmas:)
Lambda: Hello Lambdos. Today we have George, the founder of BitMax to join us for the AMA. Let's give him a warm welcome to do a introduction of BitMax
George Cao: I am George Cao, founder of bitmax. I am happy to take the opportunity to talk to everyone here. Thanks to the lambda team. Let me start with a brief introduction about us.
Bitmax.io (btmx.io) is an exchange founded by a group of Wall Street veterans. Unlike most projects, we are kinda of old :) core team are in their 30ish - 50ish. The 10 founding member have combined of 150 years of Wall st experience. I have 10+ yrs of high frequency trading experience therefore I know the trading system well. That’s why our match engine can handle 400k tps per second vs huobi 1000 tps. We want to build an exchange that is transparent, robust, and efficient. While our system is the best in class, we offer the lowest trading fees. We believe the current high commission will not sustain and we will see consolidating of the exchanges with better depth and liquidity and lower commission. We are happy to partner with lambda, one of the best projects in 2018. We are committed to serve the project and the community. Alright, I am ready to take questions. Anything you can ask, as tough as you want :)
Q: Haha nice platform.
George Cao: Thanks. We are young as a platform but we are working to deliver the best
Q: I see reverse mining is new , I used many other mining exchange but all have normal mining . How does reverse mining works?
George Cao: Reverse mining is an innovative approach that helps the exchange and the project in several ways. 1) the concept of reverse mining is by providing liquidity to the exchange, you get a rebate and deduct out tokens from your account of the same valued. You can think of a otc sell our. 2) the benefit is it removes lots of sell pressure from the secondary market. And provides a strong support for the token price. 3) it introduces lots of liquidity to the exchange and benefits all traders
Q: The BTMX used in reverse mining are locked forever?
George Cao: Yes so the total number of tokens are always reducing your
Q: I've really been enjoying using the bitmax exchange so far especially with the low fees and data usage rewards. Does the exchange plan to bring in a shorting function in the near future?
George Cao: Yes we will have margin and futures trading
Q: It was supposed to December right ?
George Cao: We postponed our margin to Jan. The reason is we want to be more careful on protecting margin call protections.
Q: Margin trading and futures is important for BTMX price to drive up
George Cao: Totally agree
Q: Does BitMax have any activities on New Year's Day?
George: We do have multiple promotional events. Including but not limited to airdrops. Please visit our website and stay tuned
Q: I saw the whitepaper of bitmax, can you talk more about your dividends the formula is really hard for me ?
George Cao: Sure 80% of our commission goes to our fee pool. 1/180 of the total pool will be distributed daily. As long as you are a token holder, the current rate we pay is over 100% annually
Q: Oh I see, so the dividends will be smooth, great idea.
George Cao: Yes unlike other mining exchanges have huge volatility on div we smooth our curve
Q: I've also heard there is a mobile app in the works, is this likely to be released in the near future?
George Cao: Almost done. Beta version is in testing
Q: What about the north American, will it be available in the future?
George Cao: We more cleared our legal path for fiat trading in us. Q1 2019 we will launch in the us
Q: Great news I think this will bring a big volume.
George Cao: Yes agree. Our team is excited as well
Q: With promotional Airdrops that require a certain amount of the BTMX token to be held such as The lamb one that has taken place on the exchange this week. Are tokens that are locked for data usage or in cards taken into account when balance screenshots are taken?
George Cao: Yes we will take that into account
Q: When will be the private sale tokens be released ?
George Cao: As soon as we mined 90m we will start to release
Q: So let me get this right .. you give us FREE BTC and ltc and even Lambda EVERYDAY if we hold BTMX and agree to share our data
George Cao: Free usdt btc eth
Q: Wow. In a bear market, Free btc is the best thing ever
George Cao: We share revenue with our users, 90% is usdt. Not sure if you like it:)
Q: also consider adding coins like ADA and few from top 30. People need more coins
George Cao: We are adding stellar and zcash soon
Q: I heard they are insured Unless we give password to someone hehe
George Cao: Yes we are using custodian service
Q: George are our funds SAFU with you? Exchange insurance? I would say it is With the industry giants backing this exchange
George Cao: Sequoia matrix bitmain fbg dhvc are our equity investors
Q: What’s to stop People dumping BTMX token after free btc Or stop capital investor dumping on retailer
George Cao: They get it every day. Why would they dump? All equity investors can not sell on secondary market. They can only to reverse mining
Q: Will margin allow reverse mining instead of normal mining?
George Cao: Not initially
Q: People do irrational things when btc moves Or whales dumping, I heard there was a lock up token or something. To stop this
George Cao: We required lock our tokens to get rewards. You can request to unlock at anytime but it takes 24 hours to process
Q: Binance is developing DEX any plans for BitMax ?
George Cao: Not anytime soon we have a looong to do:)
Q: It's good you have dex in mind , with improved scalability in future maybe bitmax can build good dex
George Cao: Agree
Q: Retail investors are important , George knows it haha
George Cao: We care most of retails
Q: It would help if they also burned or locked tokens up
George Cao: Yes we permanently locked
Q: Seems you have everything thought of.. but how about moving to Malta?
George Cao: We priority US. Once us is clear pretty much everywhere is clear
Q: Doesn’t any exchange cover US right now?
George Cao: Coinbase but they have 0 international coverage and 0 client service
Q: What sort of systems are in place for abnormal/suspicious activity on the exchange?
George Cao: We prohibit self trading. For unusual trading behavior we ban the account and as for explain in the first violation. For continued violations we permanently ban the account
Q: can we get a glimpse of mobile application ?
George Cao: There is a beta version you can use but we are keep improving
Q: What are the precautions taken to prevent wash trading ?
George Cao: We have pre trade and post trade checksums. E.g we don’t just scan one account. We check or related account
Q: Will market orders and stop-loss orders be available in the future?
George Cao: Yes we are working on it
Q: what do you think of lambda project and community
George Cao: Lambda is definitely one of the best projects this year. We have been working with lambda for months and have lots of respect ion for the team. Community is also great very well organized. I didn’t talk much but I joined lambda tele group for a while. Great interaction
Q: So the trading starts at 8 pm ETC?
George Cao: It’s postponed. Please stay tuned for announcements
Lambda: We will make announcement giving out time and new date.
Q: when please? It's also more professional to be able to give dates and respect them
Lambda Cao: we are working hard and aiming the date of Dec. 29, pls stay tuned, thank you
George: Unfortunately bitmax and lambda don’t have 100% control of the date and time. Huobi is holding the ball
Lambda: The listing dates have been postponed and we don't want to give out a random date. I request you to have patience and wait for official announcement
Lambda: we will try everything to protect retails interest
Q: Can’t let houbi just arrive late to the party?
Lambda: in the long run we may need Huobi to help us better protect us all
George Cao: We trust lambda team can make the best decision for all investors
Q: Have you been busy with listing recently? Anything else?
George Cao: We have been working 24 hours a day including Chris eve :) Listing and app and margin and lots of new improvements
Q: Why would we need huobi with bitmax on our side.
George Cao: Trust me we are as upset. However as an exchange our mission is to serve projects and investors. Please join us in fully supporting any decision lambda team made. We have 100% confidence in lambda
Q: Are you familiar with the REKTbot and SYSTEM OVERLOAD problems at bitmex
George Cao: Yes but still bitmex is the best place to trade future compare with okex
Q: Slap that Hayes fool when bitmax start margin and futures..
George Cao: Haha i don’t want to declare war with them. Let’s be a bit patient :)
Q: Could bitmax handle That volume and not system overload
George Cao: We are 100% confident
George Cao: Alright i have to run for another meeting. It’s been a great ama. Thanks everyone. For any trading related questions please contact our client support. We promise to get in touch in 5 mins 7/24. Thank you all!
Lambda: thank you for participation, have a nice day!
submitted by BitMax_Support to BitMax [link] [comments]

Daily analysis of cryptocurrencies 20191102 (Market index 50 — Neutral state)

Daily analysis of cryptocurrencies 20191102 (Market index 50 — Neutral state)

https://preview.redd.it/skq8bar2r6w31.png?width=1920&format=png&auto=webp&s=7c2fae20cd1d9d670104ddb87c6cc80c5bbb345f

Crypto Custody Firm Xapo Initiated 5 Whale Transfers On Nov 1 Citing data from the Bejijing-based blockchain security company Chainsguard, the Bitcoin network witnessed multiple whale transfers on Nov 1. At 21:10:38 UTC on Nov 1, Xapo, a Bitcoin custody service provider, has conducted five whale transfers with the largest amount within one transfer marking up to 20,000 BTC. The total number of moved BTC in these transfers records 65822.01. Many of these BTC originated from the transfers of 4,999 to 10,000 BTC collected by Xapo on the Bitcoin chain at 19:19:49 and 19:32:12 on the same day. One of the main BTC sources initiated by the address starting with 37whD5 was crypto exchange Bitstamp. Previously, the above-mentioned exchange announced that its custodian would change to BitGo. Otherwise, Bitstamp had a great transfer with more than 110,000 BTC involved on October 15. At 20:53:20 on Nov 1, the wallet address beginning with 3AdpZc initiated a transfer of 5000 BTC to the exchange Poloniex. After analysis, the source can be traced back to the coins accumulated by Poloniex in March 2016. Generally speaking, the whale transfer carried out by institutions comes from the needs of business or customers. Sometimes, it is only the planned wallet management.
Utah To Facilitate Voting For Disabled Individuals Through Blockchains Recent reports indicate that blockchain technology will soon be used in Utah, as part of a trial project meant to allow disabled individuals to cast their votes. To put things into perspective, the local council and government of Utah have decided to allow blockchain-based voting via smartphones in the upcoming municipal election that will take place in November. The platform that disabled voters will be using for this election represents the result of a fruitful partnership between the Utah Country Elections Division, the National Cybersecurity Centre, Tusk Philanthropies and Voatz, a local voting app development company.
Ethereum To Increase The Blocksize By 8x Ethereum is partially addressing the many complexities of sharding by simply increasing the blocksize from the equivalent of about 1MB every ten minutes to circa 8MB. Danny Ryan, the Ethereum 2.0 coordinator, publicly said: “We are making the blocks bigger based on recent research on safe block size and propagation times, so the data availability of the system is still > 1MB/s so you can still get similar scalability gains when doing things like ZKrollup and OVM.” ZK rollups are a hybrid scaling method that combines on-chain security and second layer networks through smart contracts and zero knowledge methods. OVM is the Optimistic Virtual Machine from Plasma, with both being more sort of on top of Ethereum’s public blockchain.

During the first quarter of the year, Bitcoin was trapped inside a tight trading range, where major players began buying the fear of retail crypto investors and accumulating the asset at the lowest possible prices.
Starting in the second quarter, the first-ever crypto asset rocketed up from that trading range, and went on a parabolic rally that didn’t stop until Bitcoin met former bear market resistance at $14,000 where it was rejected.
After three consecutive red monthly candles in a row, October closed green and kept a potential bull flag formation on monthly price charts intact, giving bulls hope that the crypto asset’s 2019 rally isn’t totally finished.
Review previous articles: https://medium.com/@to.liuwen

Encrypted project calendar(November 2, 2019)

Kambria (KAT): 02 November 2019 VietAI Summit 2019 Kambria joins forces with VietAI for the annual VietAI Summit, with top experts from Google Brain, NVIDIA, Kambria, VietAI, and more! ABBC Coin (ABBC): 02 November 2019 One-on-one Servicer “Users will be provided with a new one-on-one service platform on Saturday.”

Encrypted project calendar(November 3, 2019)

Waltonchain (WTC): 03 November 2019 Premining Application End “Application for SMN & GMN $WTA pre-mining ends at 17:00 on Nov. 3 (UTC+8).”

Encrypted project calendar(November 4, 2019)

Stellar (XLM): 04 November 2019 Stellar Meridian Conf. Stellar Meridian conference from Nov 4–5 in Mexico City. Cappasity (CAPP): 04 November 2019 Lisbon Web Summit Lisbon Web Summit in Lisbon, Portugal from November 4–7. Aion (AION): 04 November 2019 CASCON x EVOKE 2019 CASCON x EVOKE 2019 from Nov 4–6 in Toronto. ThoreNext (THX): 04 November 2019 Migration/Swap Begins “4 Nov 2019 Migration/Swap/Issuance start Check Your email 1st Nov To facilitate a streamlined Process, we will use proprietary software…” Ocean Protocol (OCEAN): 04 November 2019 Blckchn for Science Party “Join us on Monday for bottles and (data) models at the official Blockchain for Science afterparty at @betahaus Factom (FCT): 04 November 2019 Grant Deadline “Have an idea you’ve been itching to build using #FactomProtocol? Apply for a grant (the deadline is November 4th):” Winding Tree (LIF): 04 November 2019 HackTravel London HackTravel London from November 4–6 in London.

Encrypted project calendar(November 5, 2019)

Nexus (NXS): 05 November 2019 Tritium Official Release “Remember, Remember the 5th of November, the day Tritium changed Distributed Ledger. Yes, this is an official release date.” NEM (XEM): 05 November 2019 Innovation Forum — Kyiv NEM Foundation Council Member Anton Bosenko will be speaking in the upcoming International Innovation Forum in Kyiv on November 5, 2019. TomoChain (TOMO): 05 November 2019 TomoX Testnet “Mark your calendar as TomoX testnet will be live on Tuesday, Nov 5th!” aelf (ELF): 05 November 2019 Bug Bounty Program Ends On Oct 24th, 2019 aelf’s biggest bug bounty will launch with a large reward pool. The event will run for almost 2 weeks. ICON (ICX): 05 November 2019 Seoul Meetup “We are pleased to announce that the ICON x Steem DApp SEOUL MEETUP will be held in the ICON Lounge on November 5th.” Utrust (UTK): 05 November 2019 Lisbon Meetup “We’re hosting a meetup for anyone interested in blockchain & crypto adoption! Industry leaders like Cointelegraph, BetProtocol & others…” Siacoin (SC): 05 November 2019 Zurich Meetup “Join us Tuesday, Nov 5th in Zurich for a Sia meetup with CEO David, and devs Chris and PJ at @impacthubzurich.” OKB (OKB): 05 November 2019 Simulation USDT Futures “NEW LAUNCH: The much-awaited $USDT-Margined Futures Trading will soon be available on #OKEx… Simulation launching Nov 5”

Encrypted project calendar(November 6, 2019)

STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th. KIM/Kimcoin: Kimcoin (KIM) Bitfinex will be online at KIM on November 6, 2019 at 12:00 (UTC). Nebulas (NAS): 06 November 2019 Burn Deadline “Be sure to read this announcement & burn your $NAT by November 6th, 3:00p.m. (UTC+8, Beijing time).” Power Ledger (POWR): 06 November 2019 Book Launch ATTN Perth Power Ledger community, we will be hosting renowned economist Ross Garnaut at our WA office for the launch of his latest book…

Encrypted project calendar(November 7, 2019)

XRP (XRP): 07 November 2019 Swell 2019 Ripple hosts Swell from November 7th — 8th in Singapore. BTC/Bitcoin: Malta The A.I. and Blockchain summit will be held in Malta from November 7th to 8th. Waves (WAVES): 07 November 2019 Joins Odyssey “#Waves is joining Odyssey… We’re kicking off on Nov. 7 at Polaris…” Komodo (KMD) and 1 other: 07 November 2019 Block Party Amsterdam Block Party Amsterdam in Amsterdam from 17:30–22:00. Horizen (ZEN): 07 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

Encrypted project calendar(November 8, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th. IOTX/IoTeX: IoTex (IOTX) will participate in the CES Expo on November 08 TOP (TOP): 08 November 2019 Mainnet Launch “So excited to announce that on November 8th, TOP Network will officially launch the mainnet…” OKB (OKB): 08 November 2019 OKEx Talks — Valencia “Meet us at our next OKEx Talks in Valencia on 8 Nov with speaker Gustavo Segovia @sepu85 who will look at the benefits of creating

Encrypted project calendar(November 9, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland. HTMLCOIN (HTML): 09 November 2019 (or earlier) Mandatory Wallet Update Mandatory Wallet Update: there will be a soft fork on our blockchain. This update adds header signature verification on block 997,655.

Encrypted project calendar(November 11, 2019)

PAX/Paxos Standard: Paxos Standard (PAX) 2019 Singapore Financial Technology Festival will be held from November 11th to 15th, and Paxos Standard will attend the conference. Crypto.com Coin (CRO): and 3 others 11 November 2019 Capital Warm-up Party Capital Warm-up Party in Singapore. GoldCoin (GLC): 11 November 2019 Reverse Bitcoin Hardfork The GoldCoin (GLC) Team will be “Reverse Hard Forking” the Bitcoin (BTC) Blockchain…” Horizen (ZEN): 11 November 2019 (or earlier) Horizen Giveaway — Nodes Horizen Giveaway — Win Free Node Hosting! Entries before November 11th.

Encrypted project calendar(November 12, 2019)

BTC/Bitcoin: The CoinMarketCap Global Conference will be held at the Victoria Theatre in Singapore from November 12th to 13th Binance Coin (BNB) and 7 others: 12 November 2019 CMC Global Conference “The first-ever CoinMarketCap large-scale event: A one-of-a-kind blockchain / crypto experience like you’ve never experienced before.” Aion (AION) and 17 others: 12 November 2019 The Capital The Capital conference from November 12–13 in Singapore. Loom Network (LOOM): 12 November 2019 Transfer Gateway Update “If you have a dapp that relies on the Transfer Gateway, follow the instructions below to make sure you’re prepared.”

Encrypted project calendar(November 13, 2019)

Fetch.ai (FET): 13 November 2019 Cambridge Meetup “Join us for a @Fetch_ai #Cambridge #meetup on 13 November @pantonarms1.” Binance Coin (BNB) and 5 others: 13 November 2019 Blockchain Expo N.A. “It will bring together key industries from across the globe for two days of top-level content and discussion across 5 co-located events…” OKB (OKB): 13 November 2019 Dnipro, Ukraine- Talks Join us in Dnipro as we journey through Ukraine for our OKEx Cryptour on 11 Nov. Centrality (CENNZ): 13 November 2019 AMA Meetup “Ask our CEO @aaronmcdnz anything in person! Join the AMA meetup on 13 November in Singapore.” OKB (OKB): 13 November 2019 OKEx Cryptotour Dnipro “OKEx Cryptour Ukraine 2019 — Dnipro” in Dnipro from 6–9 PM (EET).

Encrypted project calendar(November 14, 2019)

BTC/Bitcoin: The 2019 BlockShow Asia Summit will be held at Marina Bay Sands, Singapore from November 14th to 15th. Binance Coin (BNB): and 4 others 14 November 2019 BlockShow Asia 2019 BlockShow Asia 2019 at Marina Bay Sands Expo, Singapore from November 14–15. Basic Attention Token (BAT): 14 November 2019 London Privacy Meetup “If you’re in London on Nov. 14th, don’t miss our privacy meetup! The Brave research team, our CPO @johnnyryan, as well as @UoE_EFI Horizen (ZEN): 14 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. IOTA (MIOTA): 14 November 2019 Berlin Meetup From Construction to Smart City: IOTA, Maschinenraum & Thinkt Digital will explain, using concrete use cases, how to gain real value from.. Dash (DASH): 14 November 2019 Q3 Summary Call “Dash Core Group Q3 2019 Summary Call — Thursday, 14 November 2019” NEO (NEO): 14 November 2019 NeoFest Singapore Meetup “Glad to have @Nicholas_Merten from DataDash as our host for #NeoFest Singapore meetup on 14th Nov!”

Encrypted project calendar(November 15, 2019)

TRON (TRX): 15 November 2019 Cross-chain Project “The #TRON cross-chain project will be available on Nov. 15th” Bluzelle (BLZ): 15 November 2019 (or earlier) CURIE Release CURIE release expected by early November 2019. Zebi (ZCO): 15 November 2019 ZEBI Token Swap Ends “… We will give 90 days to all the ERC 20 token holders to swap out their tokens into Zebi coins.” OKB (OKB): 15 November 2019 OKEx Talks — Vilnius “Join us for a meetup on 15 Nov (Fri) for our 1st ever Talks in Vilnius, Lithuania.”

Encrypted project calendar(November 16, 2019)

Bancor (BNT): and 2 others 16 November 2019 Crypto DeFiance-Singapore “Crypto DeFiance is a new global DeFi event embracing established innovators, financial market disruptors, DApp developers…” NEM (XEM): 16 November 2019 Developer’s Event “BLOCKCHAIN: Creation of Multifirma services” from 10:50 AM — 2 PM.

Encrypted project calendar(November 17, 2019)

OKB (OKB): 17 November 2019 OKEx Talks — Lagos Join us on 17 Nov for another OKEx Talks, discussing the “Life of a Crypto Trader”.

Encrypted project calendar(November 18, 2019)

Maker (MKR): 18 November 2019 MCD Launch “BIG changes to terminology are coming with the launch of MCD on Nov. 18th Say hello to Vaults, Dai, and Sai.”

Encrypted project calendar(November 19, 2019)

Lisk (LSK): 19 November 2019 Lisk.js “We are excited to announce liskjs2019 will take place on November 19th. This all day blockchain event will include…”

Encrypted project calendar(November 20, 2019)

OKB (OKB): 20 November 2019 OKEx Cryptour Odessa Ukr “Join us in Odessa as we journey through Ukraine for our OKEx Cryptour!”

Encrypted project calendar(November 21, 2019)

Cardano (ADA): and 2 others 21 November 2019 Meetup Netherlands (AMS) “This meetup is all about how to decentralize a blockchain, the problems and differences between Proof-of-Work and Proof-of-Stake…” Cappasity (CAPP): 21 November 2019 Virtuality Paris 2019 “Cappasity to demonstrate its solution for the interactive shopping experience at Virtuality Paris 2019.” Horizen (ZEN): 21 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. OKB (OKB): 21 November 2019 OKEx Talks — Johannesburg “Join us the largest city of South Africa — Johannesburg where we will host our OKEx Talks on the 21st Nov.” IOST (IOST): 22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key tech. OKB (OKB): 22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “

Encrypted project calendar(November 22, 2019)

IOST (IOST): 22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key tech OKB (OKB): 22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “

Telegram: https://t.me/Lay126
Twitter:https://twitter.com/mianhuai8
Facebook:https://www.facebook.com/profile.php?id=100022246432745
Reddi:https://www.reddit.com/useliuidaxmn
LinkedIn:https://www.linkedin.com/in/liu-wei-294a12176/
submitted by liuidaxmn to u/liuidaxmn [link] [comments]

Consensus Network EP36: Buy, Borrow and Die: Bitcoin Style

Catch the full episode: https://www.consensusnetwork.io/podcastepisodes/2019/10/5/ep36-buy-borrow-and-die-bitcoin-style-1
Buck: Welcome back to the show everyone. Today my guest on Wealth Formula Podcast is Zack Prince. He's Founder and CEO of BlockFi. BlockFi bridges the gap between blockchain and the basic financial products that you're used to including interest-bearing accounts and loans. Zack, welcome to Wealth Formula Podcast. I think you we might have had you on before as a Consensus Network replay but first time on Wealth Formula Podcast specifically, so welcome.
Zac: Yeah, excited to be here, Buck. Thanks for having me. And it's good to chat with you again
Buck: Yeah so remind me how you got into this you know Bitcoin stuff in the first place, I mean you were as I understand you were a traditional finance guy right so where did the blockchain part come in?
Zac: Sure so I was I was working at a company in the FinTech world that provided data and technology solutions to institutional investors that wanted to participate in some of the new online lending platforms, whether they were real estate platforms or consumer lending platforms, and I kind of became the FinTech guy amongst my friend group and people would ask me you know should I invest in these real estate deals on fund rise or buy loans from Lending Club and I started writing a blog to share the information more efficiently with my friends basically and I started expanding a little bit writing about Robo advisory and some other things that were going on in the FinTech space and that's what led me to Bitcoin, and this is back in early 2015. I didn't start BlockFi until 2017 because I started following the market in the background, still working in traditional financial services in FinTech and then in early 2017 it started to feel like mainstream adoption was starting to happen in the crypto ecosystem. I'm started going to some meetups in New York City because at a certain point my wife said Zac, you're talking about crypto all the time and you're talking to me about it and I don't want to talk about it so you should find some other people to talk about this with. And the meetup composition started to change and in 2016 when I started going to these meetups it was the early crypto adopters you know libertarians, computer scientists and then in early 2017 I started to see some venture capitalists, some guys who had just left their job at Wall Street still wearing a suit, some more entrepreneurs and it was a really exciting time in the ecosystem, things like the Enterprise Ethereum Alliance were getting announced which had participation microsoft and a lot of other you know fortune 500 companies and I had started to believe in it. I was drinking the kool-aid a little bit so I decided to find a way to get involved in the space full-time and that's what led me to start BlockFi.
Buck: So I have to imagine that the response you got from the traditional finance people around that time when you started talking about the blockchain space and when you started being more and more involved with that was probably not a very positive response initially or did you did you experience some of that sort of you know rejection initially to what you were doing?
Zac: Yeah absolutely. But you know throughout my career this is now kind of the third emerging technology industry that I've worked in. I was originally an advertising technology starting like you know 15 years ago and I was in FinTech specifically the online lending side of FinTech which in its early days was called peer-to-peer lending and now in crypto. So having to do a lot of education explain it you know why something isn't crazy and it might work and here's why and here's the value proposition and here's what it is, I've gotten very used to that and comfortable with it. But yeah there were a lot of people who are like you know I've heard Bitcoin is only used by drug dealers and money launderers. I've heard that I'm supposed to care about blockchain and not Bitcoin. And you know at BlockFi we’re providing financial products into the market so it's a heavily regulated business so we also had to communicate with regulators. We had to explain to state regulators, federal regulators why what we were doing with Bitcoin and other cryptos than when you're doing these same types of things with assets that they're more familiar with.
Buck: So when you were talking to people back in, I don't know I guess 2016/17 and it's not a long time ago, it's only two years ago, but I have to imagine that the response or the you know the approach that people take to you when you speak to investors is very different. Has it become more mainstream in that regard for you know for big money investors?
Zac: It's absolutely become more mainstream you know the end of 2017 Q3/Q4. Point was going on that parabolic run it started to get covered everywhere, I mean it was on CNBC every day it was in Bloomberg New York Times Wall Street Journal. If you were paying attention to the financial industry and markets you heard about Bitcoin at that time if you hadn't heard about it before. So from a baseline of awareness perspective it got a lot better and then in 2018 you had a number of positive developments for the sector including one that I think is probably the most noteworthy which is that Bitcoin futures were listed on the CME the institutional investor perspective that's massive. You now have a well regulated well known super trustworthy venue where you can get exposure to this asset class, you also had companies like Grayscale bringing products to the market which are accessible to certain types of investors and their low bridge accounts and you started to see some adoption from companies like FinTech companies like Robin Hood and Square making Bitcoin available on their platforms. So the conversation has absolutely changed a lot and it's become less about whether or not this is something that's going to continue to exist whether or not it's something that was just a bubble and is going to die and now it's more about ok how is it going to get used how big could it get what are the interesting applications of it and what could have potentially disrupt in the traditional financial ecosystem.
Buck: So you know we had obviously following this you know pop in 2017, you know I actually like you kind of really got into this early 2017 so timing was pretty good I guess now regards. Good or bad depending how you look at it but I was there before before the parabolic move. And then we have you know then we followed this up with a crypto winter and and you know who knows if we're done with it, I guess we certainly are much better off than we were. You know a unit buddy it's funny Zac I don’t know if you remember this but I was about to, we'll talk about BlockFi specifically in a minute but, I was about to use BlockFi for borrowing because I like this idea of borrowing you know collateralized debt and collateralized debt on assets and buying something else. So I was about to do it and then Bitcoin lost a clip and I was like literally and I remember I was just emailing with somebody somebody over there and I was like sorry dude I guess I just sold it, I just sold all that Bitcoin I had and you sent one email back to me and it said “capitulation” but it you know and so now we're looking back at these we go down from 3,000 back up you know been sort of flirting around this 10,000 and it seems like we're kind of maybe that we're stuck there, maybe we're kind of out of winter, maybe we're in a holding pattern but it seems like to me that since that two years not only is the awareness increase but the development of the ecosystem itself is so much further advanced than it was in 2017. Is this an unusual case where the technology and maybe even the infrastructure is actually outpacing the price?
Zac: You know it's really hard to say. I would argue that in some ways it's typical. In other industries that showed a lot of promise where investors could you know participate maybe a little bit ahead of the adoption curve you saw crazy price run ups with the tech bubble and you know ‘99-2000 being the one that's kind of top of mind in recent memory and then on the other side of things, are we behind where the price should be now? It's really hard to say because this is kind of like a commodity type asset built on a payment network and valuing that is challenging and there's not a perfect model for for doing it today. It's not as easy as something that's cashflow producing but I'm incredibly bullish. I'm on record as saying at the beginning of this year that Bitcoin has only had one year in its 10-year existence where it had a lower low than the year before and parted this year around the low price for 2018 and I predicted that we would in the year had a higher price than where we started the year pretty soon and now we're up and you know around 300 percent from where we started the year. As that happens in investing is people frequently look at things on a year-to-year performance basis and when people are looking at Bitcoin even if all we do is stay around 10 K from here when they're looking at how Bitcoin performed rather than other relative to other assets at the end of 2019 it's probably going to look fantastic. And you also have an event coming up and in the summer of next year called The Halvening where basically the supply that's produced by miners is going to get cut in half and so if you believe in the stock the flow type models of valuation for Bitcoin that is usually a very big driver of price appreciation.
Buck: I believe May of 2020, right?
Zac: That's right.
Buck: In May of 2020. Can you just talked a little bit about that just so people know because people hear about it, I've been talking about it but I don't think that it really explained it.
Zac: Yeah and you know I'm not I'm not a computer scientist so I can explain it in a you know in a very simple…
Buck: No one else here is either.
Zac: So basically the way that new Bitcoin is created is through this process called mining. And it's analogous to mining gold except instead of finding a place in the earth where gold exists and then getting your trucks and mining equipment and digging it out of the ground, the way bitcoin is mined is using this computer program and there is now specialized computer hardware that's built specifically and optimized for mining Bitcoin. And you have this network of machines around the world where the input is energy into the mining hardware and the output is new Bitcoin and those miners are what provides the power for the payment network a Bitcoin to run and when we say that there is this event called The Halvening, what that basically means is that the output that's built into the Bitcoin program that the miners are receiving as their payment for contributing energy to the network, is going to get cut in half. So the miners are going to have the same you know relative input but the amount that they're receiving is going to get cut in half for that input. This should, if the demand side for Bitcoin remains equal, it should drive up the price and historically Bitcoin has had three of these Halvening events in its lifetime so far I believe and around each Halvening you have seen you know six months before or six months after a pretty material run up in price.
Buck: Yeah so it also goes along with that sort of that the entire idea that Bitcoin unlike you know other assets including gold is it's a deflationary asset ultimately and and that's one of the things that makes that happening really significant. Apart from and I have one more question before we get to block five which is apart from the Halvening, you know thing that's happening, what is maybe the biggest development or upcoming thing that's coming up that makes you the most bullish on the future of Bitcoin or blockchain in general?
Zac: Sure so I think I wouldn't actually point to any one specific thing, I would point to two broad trends. So one is institutional adoption and participation in the asset class and the other is better ramps for retail participation into the asset class and just focusing here you know on the US market because it really is an international story but just in the US market. In September we should have Bakkt launching their futures platform. Bakkt is owned by ICE, the Intercontinental Exchange, and there's a big core difference between their futures and the current futures that are available on the CME in that futures on Bakkt platform are going to be physically settled so that means that actual Bitcoin is going to be needed to facilitate the trading on Bakkt’s platform which does not happen on CMEs exchange so that's that should be a very positive catalyst in terms of demand for physical Bitcoin that could have an impact on the price. Also on the institutional side this year I believe earlier this year, the first pension fund made an investment into an asset management vehicle that was focused on investing in Bitcoin and private equity opportunities in the Bitcoin and blockchain sector. So that will be a trend.
Buck: Which pension fund was it?
Zac: It was in North Carolina so I think it was like the North Carolina Firefighters and the group that raised the money from them was Morgan Creek Digital it’s actually invested in BlockFi by Anthony Pompliano Twitter and Mark Yusko so that's on the institutional side. And then on the retail side you've seen FinTech companies like Square and Robin Hood offer Bitcoin trading to their users. But soon you will also have companies like TD Ameritrade E-Trade and others offer Bitcoin to their users sometimes be a partnership sometimes because they've built it directly. You also at some point might see progress made in terms of an ETF getting approved that would give retail investors in the US market exposure to Bitcoin in a really easy and familiar way. All of those things are tremendously positive catalysts and the caliber of people working on them only continues to increase. Talent was attracted into the sector very, very rapidly these days.
Buck: You know one question that leads me to is that all of this is happening with Bitcoin for the most part. Are alt coins in your opinion is that market coming back or is that something that we're gonna see probably select you know group of tokens projects emerge and then the rest will kind of just get left in the dust, what do you think?
Zac: I mean I'll tell you exactly what I'm doing with my portfolio and then I'll provide a bit more color. So my asset allocation in the crypto side of my investing is I'm like 90% Bitcoin 5% Ethereum and 5% B&B; which is the Binance right. So I'm super bullish on Bitcoin. I think that you know there's a chance that Ether makes a comeback specifically I think that a lot of the stable coins that have been launched have been built on Ethereum if you're not familiar with stable coins it's basically the concept of a dollar but on a blockchain which could be really really powerful because it creates the opportunity for the delivery of US dollar denominated financial services at a global scale not using the traditional banking rails. And then B&B; I mean Binance is the biggest and most successful exchange they have a history of innovating, creating new products, going fast and so I'm taking a bit of a flyer with them but I'm 90% Bitcoin. I don't think that I'm not bullish on any of the other all coins frankly I struggle to see you know the big upside I have heard whispers in the community that there's kind of like a new wave of altcoins 3.0 might emerge, you know could see some some good returns similar to what some of the ICOs did in 2017 but it's not an area of focus for me. So that's my view.
Buck: Yeah let's talk about BlockFi. Remind us exactly what BlockFi is.
Zac: Sure so we're a wealth management platform for crypto investors. Today we have two products that we offer. One product is analogous to a savings account from a traditional bank where you're able to earn interest on your holdings except on BlockFi, the assets instead of being dollars are bitcoin and Ether and we don't have FDIC insurance so it's not exactly the same risk profile as a savings account at a bank, but conceptually you're able to hold Bitcoin and an account with BlockFi and earn interest on it paid in Bitcoin every month. That's one product that we have. The second product that we have which you are alluding to earlier offers our clients the ability to borrow dollars secured by the value of their cryptocurrency and it's analogous to a securities backed loan or a liquidity access line in the traditional world except instead of securities we're taking Bitcoin or other digital assets as collateral and lending it rates as low as four point five lending USD that rates as low as four point five percent a year.
Buck: I wanna pick these apart a little bit if you don't mind. In terms of this savings account first of all is it just bitcoin or is it bitcoin, Ethereum?
Zac: We actually support three assets in the interest account currently Bitcoin, Ether and GUSD which is the stable coin from Gemini.
Buck: Got it. And talk about the interest because it's not one flat interest rate right it's different depending on how much cryptocurrency actually is held?
Zac: Correct so there's a tiered interest rate structure. Currently on Bitcoin for balances up to ten Bitcoin, we offer a six point two percent annual yield and for balances above ten Bitcoin it's a 2.2 percent annual yield. On Ether, for balances up to two hundred Ether it's a 3.3 percent annual yield and balances above two hundred Ether is 0.5% annual yield and for GUSD the stable coin it's an eight point six percent interest rate with no tier so yeah those are the different rates.
Buck: Why did, I mean was it just a matter of like an issue with people dumping like a thousand Bitcoin and trying to get six you know 6% of that, was it just too hard to you know make that a long-term part of the business model or why did the higher levels end up changing to a lower rate?
Zac: Sure so I wanted to function of market conditions and to it's a function of supply and demand. So we launched the interest account in March of this year. We were just starting to come out of the bear market and one of the things that happened as we switched from being in a bear market to being in a bull market is the futures switched from being in backwardation to contango which basically means that our institutional borrowers the groups that we lend to that enable us to pay the rate to depositors had less of a need they had less demand to borrow and they were willing to pay lower rates to borrow crypto than they were when we were building and planning to launch this product. The second thing that happened is we were surprised to the upside in terms of the level of interest that we received from depositors and especially depositors with very large sums of cryptocurrency. So to give you an example you know within a day or two of making the product available publicly, we had a number of groups that were depositing 5, 10, 15, 20 million dollars worth of Bitcoin and so the supply-demand that we have to manage is, the amount that we have on deposit relative to the size of this market that will borrow Bitcoin size of the market that will borrow Bitcoin is partially a function of market sentiments partially a function of number of trading venues and the liquidity profile and it's partially a function of you know BlockFi’s efforts in terms of sales and client development relationship management. So the supply side got a little bit ahead of the demand side on deposit and how much there was available to borrow so we made a few tweaks. We want to keep the 6%, 6.2% rate on Bitcoin available to as many people as possible for as long as possible so that's why we went with the tiered structure where we made it available on balances up to 10 and reduced it for balances above that.
Buck: Got it and the interest on that, when you say 6.2 percent that six point like it's all denominated in Bitcoin, you're not paying cash out right?
Zac: Correct so to use round numbers to provide an easy example you start on January first with a hundred Bitcoin in an account, by the subsequent January first you will have 106 point 2 Bitcoin in your account.
Buck: Yeah and that that's kind of neat too because then you're you know you're also getting potentially the upside of that you know I mean they made 6% but if you if you're really bullish on the market you could be potentially looking at a lot more than 6% on your money. How about in terms of the, is there like a you know do you do it sort of a month-to-month or six month or month you know year-long contracts for these things?
Zac: It's month-to-month. So the rates are subject to change on a monthly basis. We provide notifications at least a week in advance before the end of one month on what the rates will be for the subsequent month and people are able to you know withdraw any time without penalty. We reserve up to 7 days to process withdrawals but we've never taken more than one business day to process a withdrawal so they're pretty quick but not instant for security reasons and yeah it's pretty flexible.
Buck: How about the lump in the lending side how does how does that work? So now I've got like 10 Bitcoin and so I would deposit that I guess and you guys I understand that maybe that that goes into like a Gemini account or something, is that still how it works?
Zac: Correct so we have a partnership with Gemini for custody. So when you log into a BlockFi account you'll have a deposit address. When you send Bitcoin to that deposit address it actually goes directly into storage with Gemini. Gemini was the first custodian in the crypto sector to receive insurance against cyber hacks on their platform. They were also the first custodian to get to complete a SOC 2 compliance audit and they have a really long track record of custody billions of dollars worth of crypto without ever having any issues. So it goes directly to Gemini and then you're able to interact with block-wise platform to take any actions that you might deem necessary. So you can view your interest payments you can withdraw you can deposit more you can also take out a loan. So in terms of taking out a loan, if you have ten Bitcoin that's worth roughly a hundred thousand US dollars at this point in time, you can borrow up to fifty percent of that value in a US dollar loan which can be funded be a wire or stable coin and then the structure of those loans is that you make interest-only payments on the amount that you borrowed throughout the duration and you can prepay at any time without penalty.
Buck: And what's the typical you said it was four point six.
Zac: We have interest rates as low as four point five. The interest rates on borrowing USD vary according to your initial loan to value ratio. So if you have a hundred thousand dollars worth of Bitcoin we actually have three loan-to-value ratio options. You can borrow at a 50 percent initial loan-to-value ratio which would mean you're borrowing 50k, the interest rate on that will be eleven point two five, if you borrow thirty five percent of the value so 35k the interest rate is seven point nine, and if you borrow twenty five percent of the value of the interest rate is four point five percent per year.
Buck: Got it. In terms of you know the technical, so you basically pay that on a month-to-month basis and then in terms of contracts, are those also month-to-month loans or how does that work?
Zac: Those are one-year term loans well now it's the ability to renew without repaying the principal at the end of the term at current rates and our rates for those loans have always come down so far. So it's a one-year term loan BlockFi committed for a year at that rate your payments stay the same but you can prepay at any time without penalty.
Buck: Right. When do you do when would you do an actual sort of I guess a cap will call like what loan-to-value because you can go up to say you're borrowing at you know you're borrowing at the lowest rate you know you're at 4.5% you're borrowing see you know just for round numbers 100 Bitcoin you borrowed or you said 10 Bitcoin hundred thousand dollars but you only borrowed twenty-five thousand dollars at four point five percent, what if Bitcoin you know loses 50 percent of its value then what happens?
Zac: Well you wouldn't have a margin call based on on that example. If your loan to value ratio hits 70 percent that's when we have a margin call and the way the margin call works is our clients have the option to either post more collateral, pay down the loan using USD or some of the collateral that's posted for the loan or take no action. If they take no action there's a 72-hour window where we'll wait to see if the price recovers, if it does then no action is required, if the price keeps going down further then we will initiate a partial collateral sale to rebalance that LTV to a healthy level at the end of that window.
Buck: So in terms of the clients that you see doing this kind of stuff, I mean who are you seeing borrowing because you don't have a cap I mean you can on the borrow side, I mean and the rates don't really change like if you're depositing a hundred Bitcoin you're getting the same rate differences as somebody who's depositing ten for borrowing right?
Zac: That's right.
Buck: So who are the people who are putting I mean what are these businesses that are putting are using these loans who are the typical clients?
Zac: Sure so it's a mix of retail and corporate. On the retail side we actually did a survey recently on use cases and the number one use case about a third of our borrowers expressed is that they were using the funds that they borrowed to start a business, which we were really excited about. So the other popular use cases were investing in real estate, investing in other types of traditional assets like stocks and bonds, home improvement, larger purchases, vacations were all used cases, paying down higher cost debt was another use case, and then on the corporate side the loans are used for operating capital. So we have some mining companies that borrow from BlockFi. Other types of companies who you know maybe have crypto denominated inventory like exchanges or crypto ATM businesses our frequent borrowers from BlockFi and our loan sizes rearranged from you know as low as five thousand dollars all the way up to seven figures. So it's a pretty diverse group of borrowers.
Buck: So recently it sounds like you guys partnered with another company called Casa. What is Casa and I guess how does that benefit both companies?
Zac: Sure. So Casa is a leader in fighting self sovereign storage solutions for cryptocurrency owners so if you're alone that owns Bitcoin and to use a gold analogy. If you want to own gold but you keep it in your vault or in your backyard you want to have physical possession of it yourself if you want to do that same type of custody with Bitcoin. Casa has a solution that makes that really easy. Our partnership with Casa provides mutual benefits to clients on either side. So Casa clients are able to receive some discounts in terms of accessing BlockFi products and vice-versa BlockFi clients are able to receive discounts in terms of accessing kasam products and over time we'll build some things in to the user experience specifically on Casa’s platform that will make it you know a bit more seamless to interact with BlockFi products while you're on their platform. In general that partnership strategy is something that you'll see more of we think there are in the ecosystem that are specializing in areas that BlockFi's not focused on and doing things where we can provide benefits to clients on both sides is a win-win for us then and our clients.
Buck: Last thing I want to ask you about, last time I spoke to you, you had talked about the idea of potentially Bitcoin backed credit cards meaning like you know getting Bitcoin back instead of miles or dollars back. You guys any closer to that, because I definitely want one of those cards.
Zac: I'm so glad you brought it up. We're definitely closer, but we're not you're not going to have the card until like Q3 of next year probably. It's getting worked on, these things you know for better or worse they take a long time launching a credit program is no small feat you know we're working on it. We've identified some of the key partners that we'll be working with to bring that product to market it is going to happen and I share your sentiment like I wish I had it now.
Buck: Yeah seriously that'd be great. Well listen it was great talking you. So it's BlockFi.com and it's spelled like block and then fi and tell us you know tell us the process of doing is pretty simple okay how long does it take to apply for these things…
Zac: Yeah I mean nothing takes any time really. So you could come in and start earning interest and get a loan from us all in under five minutes. And we also have a client service team that's super responsive in in terms of communication however you want to communicate with them, over email, over the phone, over text message so you know don't don't hesitate to reach out to us. We're also on twitter. My twitter handle is BlockFiZac and our company twitter handle is @therealBlockFi so we're very active on those platforms and happy to chat with you there as well.
Buck: Zac Prince, thank you very much for being on Wealth Formula Podcast today.
Zac: Thanks for having me, Buck, I appreciate it.
Buck: We’ll be right back.
submitted by Buck_Joffrey to u/Buck_Joffrey [link] [comments]

My Analysis/predictions of a bunch of Cryptos

I have been in crypto technically for 2+ years but, since last spring gotten very into it. Here is my opinion on a bunch of coins. I know I don't know everything about crypto, but I also know nobody (except maybe Satoshi) can say for sure how this will play out. Here's my analysis(half-assed bullshit guesses). Yea I'm very bullish.
BTC The king. I think it has the best likelihood of mass adoption. Wales want to see liquidity before they jump in. But more importantly they want to see big marketcap. They don't want to be a huge % of a market and not be able to pull out if it drops. I think there will be a tipping point in the near future where all of a sudden major financial companies start to pour in investments and millionares/billionares dump tons of money in. Wales are what takes us to 50-100k per coin. Also at a critical mass of marketcap the stigma of "betting on bitcoin" will turn to "putting it in bitcoin". Still too early to call a winner, but once they dive in it might be too late for other coins to top it. The tech that is massively adopted is not always the best. Yea there are fees, but it is still better than a wire transfer.
Jan 1 2018: 12050 April 1 2018: 16800
ETH Very strong. Accurately valued imo. I think it might go down a bit in the next year or so to 280 and stay, but I also think it will only take a few very successful Dapps for it to explode. Good leader too. I think the move to POS is great and I think the people behind it are very dedicated and pumped.
Jan 1 2018: 310 April 1 2018: 750
LTC- solid coin. Stability and a good leader. It could become the silver to the gold. I see it continuing to be very high volume.
Jan 1 2018: 72 April 1 2018: 105
BCC- No idea.
XRP- maybe great for a short term gain but I see major problems for it long term. I know a lot of people here don't like it because they think it's centralized but that's not why I don't like it. To me the problem is that for the "product" they offer to banks they can easily face competition and lose. There are already other coins that do similar things.
Jan 1 2018: .23 April 1 2018: .40
NEM Cool idea. I really like their coin and PoI. I think this coin has a chance of being massively adopted. The only problem is that they don't market much and don't get hype going. If they saw another big 20% burst I think they would snowball and more people would look up what they were about. They have small volume which isn't good, but I think it is because those who are in it see it as the best tech.
Jan 1 2018: .25 April 1 2018: .85
NEO Another coin that could be massively adopted. I don't see it going down too much anytime soon. After all the China FUD it only took a small hit and is still in the top 10. If China endorses it or has some kind of statement that can be interpreted as pro NEO I think it will explode. I like their model and how gas works with the POS. You can't go wrong with this one.
Jan 1 2018: 42 April 1 2018: 115
**DASH- PIVX is better in EVERY way.
IOTA- I think many can agree that this is the biggest question mark. I think it is the riskiest coin, but also potentially could see the most incredible gains. If the ball starts rolling with this and if they every get to the point where they can remove the coordinator I think it's lights out. GG. The question imo is can they get to that point while still being relevant and while people still believe in them. They have to get many people using the coin before they can get to that point.
Jan 1 2018: .62 April 1 2018: 1.8
XMR (monero) Awesome coin. Honestly I think this the safest bet. It has one of the most passionate communities and a good visible leader who understands his role is replaceable. The fungibility factor is SOOOOOO under valued and I wish more coins took this part more seriously. I like that there is no rich list. This coin seems to 2x all the time. The community has the "ask not what Monero can do for you but what you can do for Monero vibe"
Jan 1 2018: 195 April 1 2018: 405
QTUM, OMG, CARDANO all seem solid, but I haven't looked into them enough.
Bitconneeeeeeeeeeeect Not feelin it.
Jan 1 2018: 380 April 1 2018: .380
LISK- I think Lisk is awesome and will pop up to 12 by spring. JS is one of the most popular languages and its users are growing. At the end of the day it's the developer that makes widespread adoption. The easier it is for them to make apps for the block chain, the faster people can adopt it. DPOS imo is pretty cool. The people behind it seem really motivated and imo they have a cool logo and easy to remember name.
Jan 1 2018: 8.14 April 1 2018: 14.01
ARK I'm not gonna pretend to understand how smart bridges work, but I think they will go up. Their team seems professional and passionate and I like DPOS.
Jan 1 2018: 3.01 April 1 2018: 7.22
ZCASH Better off with XMR or PIVX. The tweet their boss gave was pretty telling. I have a bad vibe about them.
Stellar lumens IDK. Seems a lot like ripple
Jan 1 2018: .09 April 1 2018: .112
Stratis Better off with LISK or NEM imo
Jan 1 2018: 6.11 April 1 2018: 7.18
EOS I don't really understand this coin yet
MonaCoin Japan's coin. I think NEM is better because I like their POI and the fact they have been around longer. I don't think a coin can win off just strong patriotism/nationalism unless it is directly/officially endorsed by their gov't or issued (doubt that will happen)
Jan 1 2018: 4.42 April 1 2018: 6.44
PIVX Great coin. Their dev team sets targets and hits them. ZEROCOIN + super fast transactions are hard to beat. One of the most ideal coins with a community that's very passionate.
Jan 1 2018: 4.12 April 1 2018: 10.87
Decred One of the best long term coins. They have a good team and one of the smartest roadmaps. If crypto ever gets to maximal adoption you are basically talking about universal self governance and decred has a lot of foresight with their voting system. The down sides are that it's kinda complex and a lot to read though. New comers to crypto already have enough on their plate.
Jan 1 2018: 39.55 April 1 2018: 58.86
Steem Cool idea. I don't think its going away. At the same time I wouldn't buy this unless you like using the platform
Jan 1 2018: 1.02 April 1 2018: 3.31
Augur /Gnosis cool ideas. I see more competition coming for them. The draft kings and predictit markets are already huge. it's just a matter of showing the base how to use the platform
Jan 1 2018: 21.05 April 1 2018: 38.07 Jan 1 2018: 75.33 April 1 2018: 80.60
Binance I think this will pop up. Binance already has some of the lowest fees and BNB is functional already.
Jan 1 2018: 4.22 April 1 2018: 8.64
*Vertcoin/Grostle * I think people think because it's asic resistant it's more decentralized, but I think that's only is true in early stages. If it catches on people will figure how to rig many GPUs together and mine that way. I think they will be pumped and dumped again. I think they are the new DGB VTC: Jan 1 2018: 8.94 April 1 2018: 10.20
Populous/tenx Haven't looked into it enough but have heard good things
Salt I think Salt is a great. I think they might face more competition later, but if they can be stable and reliable, people will use their services and the price will keep going up.
Jan 1 2018: 5.44 April 1 2018: 10.91
Golem Big gamble. One coin that has tremendous upside(10x) but could also fade into obscurity. It faces a lot of competition but it seems like given it's niche function it has a strong following. The Devs for this I think are good. This is a very ambitious project. Who knows maybe 1 day a super AI will run on it.
Jan 1 2018: .34 April 1 2018: .81
Factom/Civic Great ideas. I really hope one of them becomes widely accepted/adopted. FCT
Jan 1 2018: 22.47 April 1 2018: 10.87
BAT Another great idea. I hope it does well. I like trying out new browsers
Sia/Storage I think these could moon but you will have to wait a while. I like Sia a bit better.
Sia > 1 dollar 2019
ZEN/VERG/ZCOIN Great on privacy. I'm not as big on POW and I think MONERO might have too much of a head start but these coins are unique. It's still early for any of them to become top dog
Byteballs cool Idea. I like IOTA better. Raiblocks might be better than both. but they are small and not on many exchanges. And as you can tell from the quality of this post I am too lazy to sign up for some new exchange right now.
Why so Bullish? You already know Where should ppl put money? Banks... almost no interest. If they raise interest rates they could crash the market. Either way $ will be printed in mass. Bonds..... terrible rates give me a break Stocks..... Market will probably go up but could crash any time. Not as liquid as crypto (I can't buy a computer with stock on robinhood). The whole point of stocks used to be owning a part of a company and having a say. That part of the value of a stock is long gone and diluted with these mega corps and everyone just hopes for capital gains. We all know where to go for gains. gold/silver... maybe. Crypto... Sky is the limit. It will soak up all the money that people hide, new money from the young kids in tech sectors, old money who want to pass crypos to their kids, and any sector that see's the benefit of it.
Best of luck to everyone out there.
submitted by AnotherAceTeeHummR34 to CryptoCurrency [link] [comments]

Why Is Bitcoin So Low? Bitcoin Price Bottom, Tokenized Future & Multi Billion Crypto Custody Bitcoin Eyeing $13K  Binance BTC Token  Nouriel vs Facebook GlobalCoin Binance Coin Price Predictions & News! Bitcoin Ethereum Litecoin Ripple Binance Technical Analysis chart BEST Bitcoin Price Forecast EVER!! THIS GUY got EVERYTHING Right so far!!! Bitcoin Halving Bull Run? Binance Launches Bitcoin Mining Pool - BitPay BUSD - Kim Jong Un BTC Stash Bitcoin Price Jumps, Massive Power Grab, Binance In China, Ripple + Santander & Games On Tezos (BNB) Binance Coin Price Prediction 2020 & Analysis Here’s What Could Propel Bitcoin to $7K  BTC Price After Halving, Coronavirus and Decentralization

Binance Launches its Mining Pool – Claims Lowest Costs Changpeng Zhao, the CEO of Binance, recently delivered a tweet that Binance is launching the beta version of its mining pool, and he claims that it will provide the lowest fees in the industry. Zhao announced: "The first block ever mined by the @Binance Mining Pool. Still in closed-beta ... A massive sell order of 6,500 BTC was placed on Binance with the lowest fill price being $12,100. While this caused a serious drop in the price of the cryptocurrency, which fell from $12,600 to $12,100 in less than 15 minutes, the order has already been filled in its entirely and the price had started to recover at the time of writing. We also have the cryptocurrency price change from the past 24 hours, 7 days and 30 days. Bitcoin is currently the top cryptocurrency so we compare each of the cryptocurrencies on the list to Bitcoin. We also have the cryptocurrency trade volume that have been traded at exchanges (Coinbase, Binance, etc.) over the past 24 hours. However, November saw bitcoin’s price plummet to a new low –its lowest price in over 18 months. As at today, bitcoin has lost more than 83 percent of its value at the beginning of the year when it was priced at over $19k. Some analysts have compared the price drop to NADAQ’s woeful performance at the height of the dotcom bubble fallout ... The highest price Bitcoin ever reached (Bitcoin all-time high) until today was $20,089 on December 18th 2017. How does Bitcoin Price Change? Bitcoin’s price refers to the last transaction conducted on a specific exchange. That’s why you’ll see different “prices” on different exchanges. For example, since Bitstamp has different exchanges going on than Coinbase Pro, each of these ... Bitcoin’s price and hashrates are reaching new heights. Make the most out of it. Learn how you can increase your Bitcoin profits by more than 2 BTC in just three months by joining Binance Pool. What Makes Bitcoin Mining Profitable? Bitcoin’s price has surged over the past few days; it’s at the $12,700 level as of publishing time. We’re ... Bitcoin News. Google News Bitcoin; Bitcoin.com; Cryptocoins Exchanges. Coinbase ; Kraken ; CEX.IO; Binance Buy Bitcoin At Binance + 20% Lifetime Discount On All Fees. Follow the Bitcoin price in dollar, euro and Pound sterling . In the above widget you can see the current Bitcoin price. By default, it is set to show you the period over the past 30 days (1M). The current Bitcoin value is shown in USD, EUR and GBP on top of the chart. You can also see how the BTC price has performed over the course ...

[index] [11625] [7058] [11395] [14833] [17487] [11329] [11873] [15753] [3893] [11223]

Why Is Bitcoin So Low? Bitcoin Price Bottom, Tokenized Future & Multi Billion Crypto Custody

Bitcoin Price Jumps, Massive Power Grab, Binance In China, Ripple + Santander & Games On Tezos ... Low Interest & Binance Delistings - Duration: 1:02:22. The Modern Investor 12,078 views. 1:02:22 ... The Bitcoin price did correct lower and traded below the $6,500 support area. The bears were able to push the price below the 23.6% Fib retracement level of the upward move from the $5,850 swing ... Today reviews (bnb) binance coin crypto price analysis prediction for 2020. ... How I Made +40% PROFIT Trading Bitcoin In 1 DAY!!! (Binance Futures) - Duration: 13:00. The Right Trader 4,085 views ... Binance Pool’s first product offering will be Bitcoin mining, using a FPPS payment method. - BitPay Partners With Binance to Support BUSD Payments Around the World Bitcoin Ethereum Litecoin Ripple Binance Technical Analysis chart ... Bitcoin 2021 Price Targets REVEALED! March 2020 Price Prediction & News Analysis - Duration: 56:53. Krown's Crypto Cave 14,499 ... Some information about Binance, its native cryptocurrency Binance Coin, related news and my price predictions. What are your thoughts about these price predictions and the information contained ... Visit LEDN to check out getting a bitcoin-backed loan! https://platform.ledn.io/join/0a00cca3dd61dea5909c95cd41f41685 CALGARY BTC Basics Class https://www.ev... URGENT: BITCOIN GOLDEN CROSS - OPPORTUNITY OF LIFETIME (btc crypto live news price analysis today ta - Duration: 54:15. Crypto Crew University 35,952 views 54:15 Why Is Bitcoin So Low? Bitcoin Price Bottom, Tokenized Future & Multi Billion Crypto Custody Bitcoin Price Bottom, Tokenized Future & Multi Billion Crypto Custody The Modern Investor

http://binance-review.forex-forum.space