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TokenClub Bi-Weekly Report — Issue 114（5.4–5.17）
https://preview.redd.it/kkhj7agzz5251.png?width=875&format=png&auto=webp&s=f47007e7923d8f40d98e3ba7d08a31c3729a0bd3 Hello everyone, thank you for your continued interest and support. In the past two weeks, various tasks of TokenClub have been progressing steadily. The product development and community operation progress this week are as follows: 1. TokenClub Events 1)TokenClub & 499Block reached strategic cooperation in live broadcasting On May 28th, TokenClub and 499Block reached a strategic cooperation to jointly build a live broadcast ecosystem in the vertical field of blockchain. 2)520e events When 520 comes, TokenClub launches live interactive interaction. During the event, participate in interactive questions in the live broadcast room or forward the live poster to Twitter and the telegram group, and upload a screenshot to have the opportunity to extract 520, 1314 red envelope rewards https://preview.redd.it/apyee28406251.png?width=1080&format=png&auto=webp&s=9c9798db931ad6611d6c258907120610ae11ff11 3)Text version of live content is abailable on Medium In order to better understand the live broadcast of TokenClub by overseas communities, we translated the live broadcast content into English and uploaded it to TokenClub’s Medium official account, so that the community’s small partners can view it. https://preview.redd.it/hhmu3pl506251.png?width=1080&format=png&auto=webp&s=fae9d42dcdee9d079219d1ffe612fc573bad01e8 4)Preview: TokenClub’s self-media grandma is invited to participate in the golden financial theme live event From May 29th to June 4th, Golden Finance will hold a five-day live broadcast of the theme of “Finding Double Coins”. Grandpa Coin will express his views on June 3, welcome to pay attention. 2.TokenClub Live 1) Summary Recently, Binance Co-founder He Yi, TRON founder Sun Yuchen, Hobbit HBTC founder Ju Jianhua, OSL chairman Dave, BlockVC founding partner Xu Yingkai, Outlier Ventures founder amie Burke, Bitribe founder SKY, CryptoBriefing CEO Han Kao , Huarai Group / Vice President, Global Market and Business Leader Ciara, Guosheng Securities Blockchain Research Institute Sun Shuang, Tongtongtong Research Institute CEO Song Shuangjie, Jin Tiancheng Law Firm Senior Partner Yu Bingguang, Binance China Jiang Jinze, principal researcher of Blockchain Research Institute, Meng Yan, vice president of Digital Asset Research Institute, co-founder of Primitive Ventures & director of Coindesk advisory board-Dovey Wan, founding partner of Genesis Capital & co-founder of Kushen Wallet Ocean Liao Yangyang, Binance C2C-Kathy, Binance OTC-Coco, Binance Contract & Options-Justin, Binance VIP-Jennifer, Binance Broker-Jess, Binance Mining Pool-Denny, Harbin Institute of Technology Blockchain Research Executive Deputy Director Xu Zhifeng, dForce founder Yang Mindao, Mars Finance co-founder Shang Silin, Cobo & Yuchi co-founder Shenyu, well-known investor Xu Zhe, CasperLabs CEO Mrinal Manohar, CasperLabs co-founder Scott Walker, Chairman of Rock Tree Omer Ozden, Nova Club incubation team leader & Waterdrop Capital partner Zheng Yushan, Rolling Stone miner founder Alex Lam, BitUniverse coin founder Chen Yong, Odaily Planet Daily founder and CEO Mandy Wang Mengdie, Binance stablecoin BUSD project responsible Helen Tu and senior expert of TokenClub blockchain and cryptocurrency investment strategy-Zao Shen talks with you about blockchain things ~ On May 18, Block 101 Binance Key Account Manager Luna talked to Primitive Ventures co-founder, non-profit bitcoin development fund Hardcore Fund executive director, and Coindesk advisory board director-Dovey Wan, to understand “C and C How is the Goddess of Crypto Assets made? “Dovey Wan shared with us on asset allocation, investment judgment, entrepreneurship, DCEP, etc. https://preview.redd.it/0dsry36906251.png?width=1080&format=png&auto=webp&s=a7f6f4b852547d2e43114f81a981f7aa6ea10f61 On May 19, Block 101 Yingge talked with Sun Zeyu, the founding partner of Genesis Capital and co-founder of Kushen Wallet, to share the theme of “Blockchain Investment Experience”. This investor, who is rated as “reliable” by insiders, recommends that novices try not to touch contracts, do not stay overnight even when making contracts, be alert to risks, refuse gambling, and rationally analyze investments. On May 20th, 499Block ’s two-year birthday carnival “Global Hot Chain, Keeping Together for Every Year” celebration was held in the TokenClub Live Room. The cross-border AMA Solitaire + popular day group anchor live video sharing, including Binance Co-founder He Yi, TRON founder Sun Yuchen, Hobbit HBTC founder Ju Jianhua, OSL chairman Dave, BlockVC founding partner Xu Yingkai, Outlier Ventures founder amie Burke, Bitribe founder SKY, CryptoBriefing CEO Han Kao, Huobi Group / Vice President Global Markets and Dozens of blockchain leaders from home and abroad, such as Ciara, the business leader, all appeared on the scene, and 499Block became a popular beauty angel group to help the interactive host. https://preview.redd.it/ga6ey51b06251.png?width=1280&format=png&auto=webp&s=d94cc1a03640538ec1e99443c8cbb7a5e77596de On May 20, Sun Shuang, senior researcher of Guosheng Securities Blockchain Research Institute, Song Shuangjie, Jin Tong, CEO of Tongzhengtong Research Institute were jointly invited by Lingang Xinyefang, Lingang Innovation Management School, and Binance China Blockchain Research Institute. Tian Bingguang Senior Partner Yu Bingguang, Binance China Blockchain Research Institute Chief Researcher Jiang Jinze, Vice President of Digital Assets Research Institute Meng Yan, and many experts talked about the “Critical Digital RMB DCEP” in the live broadcast, one A feast of intertwined thoughts is worth watching again! On May 21st, Ocean Liao Yangyang, the founder of Block 101 Seven Seven Dialogue Force Field, focused on the “big enlightenment era of digital assets”, Ocean shared with us his entrepreneurial experience, the first pot of gold, public chain, currency circle and Analysis of the current market. Regarding the future of Bitcoin, Ocean feels that he can work hard towards the direction of digital gold and become a substitute or supplement for gold. He is determined to see more, because the ceiling of the entire industry is very high, and he still cannot see its end point. The index level is rising, far from being over. On May 22, “In the name of the Pizza Festival, we came to a different live broadcast” Bringing Goods “”, which was organized by the girls in the 101-day group of the block: June 6, July 7, Sisi, Yingge, Qianjiangyue , Dialogue: Binance First Sister, Binance C2C-Kathy, Binance OTC-Coco, Binance Contract & Options-Justin, Binance VIP-Jennifer, Binance Broker-Jess, Binance Mining Pool-Denny. We have explained to us one by one about C2C, OTC, contract options, etc. If you are interested, please move to the live room. https://preview.redd.it/a9am0j5e06251.png?width=1080&format=png&auto=webp&s=7f8d0e80492027a000d4e719ec727b56cc27d94f On May 22, Block 101 Sisi Dialogue Xu Zhifeng, executive deputy director of the Blockchain Research Center of Harbin Institute of Technology, shared the theme: “Strategy of Great Powers: Seizing New Highlands of Blockchain Technology”. He expressed his views on his own currency circle experience, entrepreneurship, blockchain technology, DECP, etc. Xu Zhifeng is very optimistic about the future development of blockchain. He said: “Ten years later, blockchain will become a very common industry. We are the Internet industry and have never changed.” On May 23, the old Chinese doctor Zao Shen from the coin circle went online ~ The theme of this issue: If you want to be short, you must be able to sing first, and if you want to be long, you must be patient. If the meal is not fragrant, the game is not good, and the happiness of the past has drifted into the distance, just because the daily reading is still a loss, and the head is hurt. Don’t panic, the old Chinese doctor Zao Shen of the currency circle will adopt the Trinity Interventional Therapy and precise care to regenerate life. Don’t move quickly to the live room to see what “therapy” is. On May 25, Block 101, July 7th conversation with dForce founder Yang Mindao, talked about “DeFi opportunities and challenges.” Yang Mindao believes that the four biggest benefits of DeFi are: programmability; non-custodial nature; non-licensing; composability. He believes that the current public chain market is seriously homogenized, and the most promising public chain is Ethereum. Ethereum is the best and largest in terms of developer group, ecology, and technological evolution, and can absorb the advantages of each public chain. At the same time, he is also extremely optimistic about DeFi, “DeFi application value is gradually verified, and the value of this type of token will gradually become more prominent.” On May 26th, Mars Finance co-founder Shang Silin Hardcore Dialogue Cobo & Yuchi co-founder Shenyu and well-known investor Xu Zhe. The trend of “financialization” in the digital asset industry is becoming more and more obvious, and the friends of miners need to master more and more skills. Unveiling the mystery of hedging for everyone. On May 26th, Nova Superstar Dialogue Phase 13 focused on the Silicon Valley star project CasperLabs, specially invited CasperLabs CEO Mrinal Manohar, CasperLabs co-founder Scott Walker, Rock Tree chairman Omer Ozden, and Nova Club incubation team leader Water Capital Partners Zheng Yushan, discuss CasperLbs together. On May 26, Block 101 Sisi talked with the founder of the Rolling Stone Miner, Alex Lam, and took us into the “post-worker life” of a PhD in finance. Alex shared the reasons for entering the coin circle, the first pot of gold, mining, pitted pits, investment experience and opportunities in the digital currency industry. Alex said: Bitcoin exceeds US $ 100,000, and it will be in the second half of next year or the year after. On May 27th, Block 101 Yingge talked with BitUniverse founder Chen Yong and shared the theme: “Who” needs grid trading. Chen Yong mainly introduced the currency trading tool of Bitcoin. In his view, grid trading has changed an investor’s concept-from stud into a batch of positions and positions. Regarding the price of Bitcoin, Chen Yong believes that the price of Bitcoin may reach one hundred thousand dollars around 2030. On May 28, Block 101 Binance Mining Pool Wu Di talked to Mandai Wang Mengdie, founder of Planet Daily Odaily, to learn more about the process of “media entrepreneurs marching into the blockchain from venture capital circles”. Mandy believes that the core competence in the media industry is high-quality original content, which is the most basic but difficult to stick to. The initial focus of entering the mixed media industry of the dragon and dragon is to focus and amplify value. On May 29th, Block 101 Qianjiangyue Dialogue Hellen Tu, the project leader of Binance Stablecoin BUSD project, talked with everyone about the stablecoin “Life and Death”, Hellen shared the stablecoin in detail, and published his own the opinion of. For details, please move to the live room. On May 30th, Zaoshen came to share the theme: Dongfeng blowing, bullets flying, unlimited chase? In this issue, Zao Shen shared with you the recent international financial situation and various major events in the United States in the past week, which extended to the impact on the currency circle and answered various questions about investment strategies. Friends who want to know more details can move to the live room of Zao Shen. 3.TokenClub operation data -Live data: 13 live broadcasts in the past two weeks, with over 800,000 views. TokenClub hosted a total of 870 live broadcasts with a total of 45.06 million views. -Binary trade data: In the past two weeks, guess the rise and fall to participate in a total of 1268 times, the amount of participation exceeded 2 million TCT. At present, it is guessed that the rise and fall function has participated in a total of 1.11 million times, with a cumulative participation amount of 498 million TCT. -Chat data: In the past two weeks, a total of 19271 messages have been generated. A total of 4.85 milliom messages have been launched since the function was launched. -Mini-game data: The mini-game has participated in a total of 4212 times in the past two weeks. A total of 1,66 million self-functions have been online. -Cut leeks game data together: Since the game was launched, the total number of user participation in the game was 962612 TCT total consumption was 6,27 million gift certificate total consumption was 15,95million and TCT mining output was 161496. -TokenClub KOL data: Over the past two weeks, the total reading volume of the BTCGrandpa article has been viewed by more than 300,000 people. -Social media data: At present, the number of Weibo official accounts is 18033 and the number of Twitter followers is 1332 and we have opened the official Medium account this week, welcome to follow. -Telegram official group data: In the past 2 weeks, there were 238 chats in the group, and the total number of Telegram official groups is currently 2906. -Medium data: Medium official account u/TokenClub has published 5 excellent articles, official announcements and updates are published in English, welcome to follow. 4.Communities 1)Overseas Community TokenClub held an event for forwarding Twitter and telegram group chats for overseas users. Bitcoin halved in less than two weeks, overseas users are more active in the telegram group, and some friends are more concerned about Binance Block 101 live broadcast, aggregation exchange, TCT usage and other issues, the administrator responded in time.On May 12th, when Bitcoin was halved, TokenClub organized a forwarding Twitter, telegram group chat prize event and participating in a live question asking interactive prize event for overseas users. There are many live broadcast events in the near future. The live broadcast poster information will be released to overseas users as soon as possible. The follow-up TokenClub will translate and broadcast high-quality live broadcast content to Twitter and Medium. Bitcoin halved, overseas users are more active in the telegram group, and some partners are more concerned about block 101 live broadcast, bitcoin future price trend, TCT usage and other issues, the administrator responded in time in the group. https://preview.redd.it/2nrknnyo06251.png?width=1080&format=png&auto=webp&s=fb98b385c0caf7e65c7b3b2bb1edd782ec126905 2)Domestic community Sweet Orange Club Weekly News Last Friday, a holiday, the community opened the red envelope rain event, and brought a sincere gift to everyone while relaxing in the holiday. At the same time, it also sent the most sincere blessings to all mothers in the community on Mother’s Day. Thank you for your long-term support and help to the Orange Club community. Hundred-day scheduled investment event (Phase II) The fourth week of the second 100-day fixed investment plan held this week has been awarded, and everyone is still very active in this event. This week, the Bitcoin halving market was also opened in advance. The small partners participating in the fixed investment should now have a certain floating win, so we adopt the correct cycle investment strategy to believe that it can bring unexpected benefits to everyone. Sign in the lottery. On the evening of May 3rd and May 10th, TCT Fortune Free Academy carried out the 51st and 52nd week sign-in sweepstakes, and rewarded the small TCT partners who had always insisted on signing in. In these two sign-in sweepstakes, the lucky friends received 20–180TCT as a reward. In addition, during the lucky draw, the college friends also actively expressed their opinions on the topic of this year’s bull market. The Leek Paradise Community Conference will continue as usual every Sunday at 20:00. During the conference, members will discuss recent hot topics, including gifts and blessings for Mother ’s Day, and the halving of Bitcoin everyone is paying attention to. At the end, the friends in the group also showed a rare enthusiasm at the first sight. It seems that the market still affects the mood. The members routinely started a red envelope rain to cheer for the participating partners and encourage everyone to maintain patience and confidence. Of course, at the same time, we are encouraging ourselves to see the community meeting next week. Come on! TokenClub volunteer community, sign in red envelopes every day, as long as you sign in every day, you can get good benefits, friends join us quickly! In the past two weeks, the community has conducted active partners. Volunteer community: Change to the currency circle consultation and pass the analysis of Grandma Coin and Panda analysts, support TokenClub in action, and continue to vote for TCT. In the last month, we have worked hard to learn the rain god’s strategy. We have doubled the coins in our hands. The community WeChat group has recently injected fresh students. We look forward to more people joining! Volunteer community, will continue to work hard for TokenClub TCT has been listed on Binance、Okex、Gate.io、ZB-M、MXC、Biki、Coinex、BigOne、Coinbene、Cybex、SWFT、Loopring、Rootrex etc. TokenClub website: www.tokenclub.com Telegram：https://t.me/token\_club
Survivors of market disasters: In this disaster, some people actually made money
There is no need to repeat the tragic market. Various historical figures are present, and they all reveal a signal: this disaster is like an earthquake with no warning signs. The victims are everywhere, and the survival is a fluke. But in this disaster, there are still people who make money. If you still have the impression, on August 23 of last year, there was a problem with Amazon AWS 'server in Japan, which caused the products using the region's services to be affected to varying degrees, including the cryptocurrency trading platform. After discovering a problem with Binance using AWS, the user's deposit and withdrawal were suspended, but the trading platform using the Binance Quotation API failed to take timely measures, resulting in loopholes in market makers' strategies. That day, while Bitcoin was still steadily maintained at 10,000 USD, some users bought Bitcoin at a unit price of 0.32 USD, and when there was almost no fluctuation in the market, they used the mistake of the server to add western food for the night. A bottle of champagne. In this disaster after 5 months, some people still use the environment to find a way to survive. Ethereum 0 dollar purchase? A $ 0 purchase of Ethereum happened on March 13. The market plummeted, many mortgagors' positions were exploded, and ETH fell from $ 180 to less than $ 100 without resistance. The decentralized Defi market that depends on the value of ETH is naturally not immune, such as the MakerDAO platform. MakerDAO's borrowing logic is that users over-collateralize ETH to lend USD stablecoin DAI, but when the value of ETH fell rapidly, a large number of loans fell below the threshold and the system had to be liquidated. In other words, the user's loan was not repaid. Mortgage of ETH is also not available. So MakerDAO has a bad debt, the amount exceeds USD 4 million. In order to repay this bad debt, MakerDAO chooses to auction the collateral, that is, ETH, BAT, etc., and uses the stable currency DAI to bid. They need to use the auction proceeds to obtain repay loan. Under normal circumstances, such auctions are not too accidental. The feeding system reports the current price of ETH, and the bidders will probably trade at a price slightly lower than the market price. However, the background of this auction is the market's plunge. The transaction caused investors to intensive operations, which blocked the Ethereum network. It takes far more than usual gas fees to allow the miners to confirm the transfer as soon as possible. According to the browser, on the morning of the 13th, if only 44 gwei is used, the transfer confirmation time on the Ethereum network will take 72958 seconds, which is 20 hours. The MakerDAO debt auction on the Ethereum network has also been affected. The blockage of the network has prevented bidders with low gas costs from bidding in time, which caused participants to bid 0 DAI / ETH to drop the hammer. It can also be seen from the transaction records that the auction of 0 DAI was indeed successful. These lucky bidders only paid a transfer fee of US $ 1 and transferred 0 amount to obtain an ETH worth US $ 122 at the time. These people are undoubtedly fortunate. The external environment helped them to become the only game participants. The exchange of $ 1 for $ 120 and a profit of 11900% was much higher than the odds of players who risked bottom-swinging in fluctuations. However, from another perspective, MakerDAO's auction is to use the DAI obtained from the auction to pay off debts. However, due to network congestion, this situation has caused several free gifts, and MakerDAO's debt repayment is even worse. Pick up goods by luck If it is said that MakerDAO launches the auction, it is a helpless action of the team under extreme conditions. Bidders still need a bit of technical barriers to participate, but there is nothing to worry about, and there is almost no difficulty and cost. On the evening of March 12, investors discovered that the LINK / USDT trading pair of the Binance trading platform experienced a short-term flash collapse and once fell to the bottom 0.0001 USD. What's going on? Twitter netizens then asked Zhao Changpeng about the matter, and the latter's response was a shock. It turned out that someone had already launched the LINK trading pair as early as Binance, that is, on January 16 last year, a low was hung within 8 seconds after the real-time trading was opened. Price list, but it has not been closed because no fool will sell it at this price. Unexpectedly, more than a year later, this pending order was sold "strangely". "At that time we had no price range restrictions. We will not cancel user orders." Zhao Changpeng said that the platform will not deny this order because the operation is completely reasonable. It will not be rolled back for various reasons. In other words, even if LINK has experienced a large decline recently, at the current price of 2.3 US dollars, the profit of this transaction will exceed 2 million US dollars. US dollars, then he instantly won nearly 5 million US dollars. The cost of 100 dollars, the income of 2.4 million dollars, a real profit. In fact, similar examples of this kind of luck are not rare in the crypto industry. Except for Binance and the previous examples, BitMex and OKEx have also experienced similar situations, and more than once. For example, on December 6, 2017, Binance's XRP / BTC trading pair experienced a breakdown of the list. In a very short period of time, the XRP price was oversold to 0.0000002 BTC, which is basically negligible. On January 29, 2018, the price of the ADA contract on BitMEX also fell to 0.00000005 US dollars, which was also nearly 0; another trading platform, OKEx, also saw a large amount of 0.002 USD on January 14, 2018. Case, according to the official statement at that time, "a certain trader" quickly sold a large amount of ETH through market orders within 12 minutes. Interestingly, at the time, some people analyzed that "a certain trader" was actually an official market-making robot, and "a large amount" of 100 million Ethereum was eventually sold for 20 dollars. However, for ordinary people, if you want to encounter this kind of opportunity for leak detection, unless you are bored and place an order in advance, such a price is fleeting, and you ca n’t seize the opportunity simply by hand speed. In fact, at present, many trading platforms have actually adopted corresponding price amplitude filters, which specify the maximum / minimum price range of pending order prices. Oolong trading is very rare. Even if luck hits and catches up, it is very likely that the platform will intervene and the transaction will be rolled back. This situation has not happened before. Only this time, the trader who had placed an order on Binance for more than a year, even if he successfully leaked and successfully withdrew the coin, it can only be said that he hit the Grand Canal. Safe moving of bricks Buying a certain kind of token on a crypto trading platform, and then selling the token to another trading platform, earning the price difference is a moving brick in the crypto circle. Moving bricks has been an arbitrage behavior since the birth of the transaction. It belongs to a very old business. Arthur, the founder of BitMex, who now operates a trading platform, and Xu Mingxing of OKEx, were once members of the army of moving bricks. . This kind of brick moving was the most prosperous at the end of 2017. At that time, trading platforms such as Bithumb in South Korea also called the "Kimchi premium" due to the price difference between other platforms. Moving bricks is a kind of risk-free arbitrage. Players use energy to gain profits, although the single profit is not much. However, with the maturity of trading robots and quantitative trading teams, the spread of tokens between multiple regions or platforms is often wiped out in a matter of seconds. Therefore, the profit margin of manually moving bricks is now very small. Of course, it is not to say that there is no opportunity. Such an opportunity to make money is indeed hidden under the volatile market. "Buy at a low price and sell at a high price, this is simply the most secure way to make money in a plunging market!" Investors are excited about cryptography. Starting at 6:30 pm on March 12, cryptocurrencies have experienced sharp fluctuations, while Binance and Huobi When the bitcoin spread between the three trading platforms and OKEx was the largest, it even reached more than 700 US dollars. The discerning player quickly discovered the opportunity, "For half an hour, I made more than 10,000 with a principal of 20,000 yuan. Such an opportunity is usually not available." Buy and sell orders executed by the above investors at almost the same time, with a spread of nearly $ 450 When it comes to moving bricks, time is money. It is definitely too late to shuttle between multiple trading platforms. Many investors have now transferred the "battlefield" to the platform that focuses on aggregated trading. "The aggregated trading platform integrates the depth of multiple platforms. As long as there is a price difference between supported platforms, users only use One account can be bought and sold on multiple platforms, and it can be operated in a few seconds. "Wu Ling, who seized the opportunity from the extreme market in these two days, made nearly 50,000 by moving bricks in just a few hours. Yuan, the principal is no more than tens of thousands of yuan. It is understood that there are already multiple platforms targeting the aggregate trading business on the market, and the opportunity to move bricks does not often appear, unless similar to the extreme market appearing in the past few days, or some unique tokens, there may be soaring and plunging. Opportunities, as a whole, are not met a few times a year, and they are fleeting. However, whether it is MakerDAO auctions, ultra-low-priced pending order transactions, or arbitrage moving bricks under the new situation, these opportunities to make money are actually small probability and cannot be used as conventional investment methods. These seemingly easy profits are in the end a few people. Many people are trapped in extreme quotes in stuns. Most investors have no assets left on the trading platform overnight. Maybe this also makes many investors lose confidence in the industry, but in fact, in the face of such a market, after finishing our mood, we are more learning from changes. Learn the reasons for this disaster, learn the logic of the main control panel, learn what signals were ignored before the disaster, and prepare for the next time. At the same time, we can also see the development of the industry. For example, when all centralized trading platforms are down, DEX can still be implemented despite various problems. I hope that everyone still has confidence in the blockchain and cryptocurrency industries. Finally, I would like to remind everyone that the recent market changes are unpredictable. Please pay attention to risks and exercise caution.
This thing is long af and I'm on of those guys now...
Hey guys. One last big dramatic post, even though it feels kind of awkward now since I had no idea I'd attract as much attention as I did with the one yesterday. But a few people asked directly what happened and I feel like I ought to do this. (u/trb0x, u/NefariousNaz) The amount of self-reflection and encouragement I received was astonishing. And u/jtnichol thank you for the gold! I’ve got a lot of respect for you as a moderator and you’ve been great pulling the sub together this last few weeks especially. So I was going into the field for drill (National Guard Reserves US) and I wasn't going to have an opportunity to sell a little peth at a time and edge my liquidation down as u/TheRealDatapunk suggested. When I got back today I saw the amazing reactions to my post and saw that the PETH/Eth ratio changed slightly to put my liquidation at 184.xx. As you guys may have seen, we went to 185.01 on Binance. I took advantage of this bounce to drop the liquidation price again to 165 by selling PETH bit by bit, I'll probably try to lower it further tonight, but I’ve made my peace with getting squeezed out if it happens. It still feels horrible to sell Eth for less than half my avg cost, but it is what it is. I feel lucky (For now, although I know we are likely to keep dropping), and also awful for other people that got squeezed so far. u/JakovTheJakovasaur, u/BakedEnt, u/richyboycaldo, I hope you guys made it I really do. It got me thinking: Part of what grew Bitcoin into what it is today was the community. And this sub is a stellar (no pun intended) example of that. We're a community. We talk about the latest toys like Augur or God's Unchained, debate the politics of issuance and such, and provide support and advice for one another. We are all here because we saw the same thing and recognized its’ value. These losses suck. We may love the tech but we all invested for the money. Like I said this has been a hard lesson, but even if ETH continues to tank and never recovers to ATH (I still know it can, but if it doesn’t…) then we’ll still be a community of people enthralled by the evolution of this wonderful protocol, and the crypto space in general. The ecosystem won’t die because the price can’t hit 1000 again. Looking through the sub I can’t see how any but the most desperate and sadistic trolls would really be entertained considering how well people have been handling their liquidations and supporting one another. We are not undignified, we are not a laughing stock, because we knew what we were getting ourselves into when we signed up for this roller-coaster. I just want to emphasize again how blown away by what an amazing community this is, and I’m right there with all y’all with heavy losses. To answer u/91143fd7dc4a5c4e7e74 My loss so far is in the five-figure range. And is (was) most of my savings. It is more than some of you, and less than others. I’m young and inexperienced. It isn’t the end of the world for me, and it isn’t for any of you either. Don’t let anyone make you feel bad about taking the gamble and putting your money where your beliefs were. Even if it only turned out to be a costly lesson. Take the lesson to heart. Be careful with leverage, diversify (Not just in coins, mind you), never assume you know how far the market “can” go, don’t dismiss the bears entirely, be scrutinizing about the timing of your investment, and don’t FOMO even if you think what you see is cheap. This isn’t your only opportunity to achieve wealth in life, and wealth isn’t all there is to life anyway. I think I am still gonna prowl the sub every so often, but I’m definitely taking a break. Anyone that actually read all of this I hope you got something out of it, and l wish you the best! (Even the shorters…good game.)
Nobody asked but here's what I'm holding at the moment.
After a bit of a clear up of my accounts this is what I'm left with. I only invest pocket change so I have small amount of all these, but here they are in descending value of holdings. Bitcoin First bought in 2016. Didn't consider it an investment, just wanted to see how it worked. Link This was a moonshot that paid off. I sold about half as the price pumped recently, but still have enough to make it my 2nd largest hold. Ethereum I stayed away from this for a while as I always thought scaling problems would prevent it from really taking off. Now I trust that those nerds will figure it out, so decided to get some. Got in earlier this year and have seen good gains. Nano This was (I think) my first alt, back when it was RaiBlocks. I bought in around $0.30. Unfortunately i was too greedy and inexperienced to lock in the gains when it rose 10,000% so although I made good margins from this it could have been a lot better. I've lost confidence in the project as I don't think a peer-to-peer currency works without a stable price. I'm holding onto a bit because you never know. BNB I had some of this to cover my Binance fees. As it got close to $10 I got some more. I don't know much about it but I'm glad to have it. XLM I bought this because the team involved were impressive and it seemed like a good project. I sold most of it for BTC early this year which proved to be a lucky move. I'm not hopeful that this will go anywhere. I think it's the only thing I've lost money on apart from a couple of very small moonshot purchases. ENJ I liked the sound of this as it had a solid use case. I sold a lot at various points on it's recent pump. I'm holding onto some on the chance that we hear big news like integration into a popular game or a partnership with a big developer. Moonshots I hold small amounts of SENT, MKR, BAT, QNT, TRTL, VIDT. In most cases I'm hoping they'll land on a major exchange and pump. Then I'll re-assess.
Hashrate: went from 54 to 76 PH/s, the low was 50 and the new all-time high is 100 PH/s. BeePool share rose to ~50% while F2Pool shrank to 30%, followed by coinmine.pl at 5% and Luxor at 3%. Staking: 30-day average ticket price is 95.6 DCR (+3.0) as of Sep 3. During the month, ticket price fluctuated between a low of 92.2 and high of 100.5 DCR. Locked DCR represented between 3.8 and 3.9 million or 46.3-46.9% of the supply. Nodes: there are 217 public listening and 281 normal nodes per dcred.eu. Version distribution: 2% at v1.4.0(pre) (dev builds), 5% on v1.3.0 (RC1), 62% on v1.2.0 (-5%), 22% on v1.1.2 (-2%), 6% on v1.1.0 (-1%). Almost 69% of nodes are v.1.2.0 and higher and support client filters. Data snapshot of Aug 31.
Obelisk posted 3 email updates in August. DCR1 units are reportedly shipping with 1 TH/s hashrate and will be upgraded with firmware to 1.5 TH/s. Batch 1 customers will receive compensation for missed shipment dates, but only after Batch 5 ships. Batch 2-5 customers will be receiving the updated slim design. Innosilicon announced the new D9+ DecredMaster: 2.8 TH/s at 1,230 W priced $1,499. Specified shipping date was Aug 10-15. FFMiner DS19 claims 3.1 TH/s for Blake256R14 at 680 W and simultaneously 1.55 TH/s for Blake2B at 410 W, the price is $1,299. Shipping Aug 20-25. Another newly noticed miner offer is this unit that does 46 TH/s at 2,150 W at the price of $4,720. It is shipping Nov 2018 and the stats look very close to Pangolin Whatsminer DCR (which has now a page on asicminervalue).
www.d1pool.com joined the list of stakepools for a total of 16. Australian CoinTreeadded DCR trading. The platform supports fiat, there are some limitations during the upgrade to a new system but also no fees in the "Early access mode". On a related note, CoinTree is working on a feature to pay household bills with cryptocurrencies it supports. Three new OTC desks were added to exchanges page at decred.org. Two mobile wallets integrated Decred:
Coinomiadded Decred to their Android and iOS wallets. In addition to the Apple App Store and Google Play you can download the APK directly. Coinomi features an integrated cryptocurrency exchange and is the first company to offer a mobile Decred wallet.
Reminder: do your best to understand the security and privacy model before using any wallet software. Points to consider: who controls the seed, does the wallet talk to the nodes directly or via middlemen, is it open source or not?
Bit Dialsannounced DCR support via GloBee at their bitdials.eu luxury boutique. Their separate supercar and classic car shop bitcars.eu also accepts DCR, either via GloBee or with manual invoicing in case of privacy concerns.
Targeted advertising report for August was posted by @timhebel. Facebook appeal is pending, some Google and Twitter campaigns were paused and some updated. Read more here. Contribution to the @decredproject Twitter account has evolved over the past few months. A #twitter_ops channel is being used on Matrix to collaboratively draft and execute project account tweets (including retweets). Anyone with an interest in contributing to the Twitter account can ask for an invitation to the channel and can start contributing content and ideas there for evaluation by the Twitter group. As a result, no minority or unilateral veto over tweets is possible. (from GitHub)
Meetup in Puebla City, Mexico, organized by @elian. (photo, slides, missed in July issue)
@joshuam discussed Decred and decentralized organizations with Craig Laundy, Federal Minister for Small Business, the Workplace, and Deregulation with the Australian Government, at @YBFVentures. (photos)
Meetup at @TheBlockCafe in Lisbon, Portugal. @mm presented "Decred 101 - Governance with Skin in the Game" and @moo31337 talked about Decred's 2018 roadmap. (photos: 123)
Meetup in Taipei, Taiwan. @morphymore made a short intro of Decred and noted: "After the talk, many have approached to tell me that they literally don’t hear of Decred until today, and are interested in finding out more about the merit of a hybrid consensus system.". Longer report here, some photos and a video are here.
@eSizeDave introduced Decred to the SILC Undergraduate Program students at @YBFVentures. (photo)
OKEx Global Meetup Tour in Ho Chi Minh City, Vietnam. @joshuam gave a brief presentation covering the history of Decred, how the project functions, and the importance of governance. Afterwards he joined a panel discussion and spoke about Decred's incentives for long term viability. (video, video, photo)
Blockchain Futurist Conference in Toronto, Canada. @zubairzia0 noted: "Devs and the community were held in high regard for the people who knew about decred ... one positive thing I remember was someone defending us saying 'Decred does not need a booth', I believe that comment was reflective of the quality of projects being showcased at the conference.". (photo)
Meetup at @YBFVentures in Melbourne, Australia. @joshuam discussed Decred with Graham Stuart, U.K. Minister for International Trade. (news, photos)
Small meetup with Jackson Palmer in Melbourne, Australia. (photo)
Hawthorne Street Fair in Portland, USA. Raedah Group was out answering questions about crypto and Decred. (photos)
Blockchain APAC in Melbourne, Australia. @joshuam joined a panel discussion with reps from banking, university and ISO/TC 307. @eSizeDave reports: "This enterprise conference was indeed a whole lot better than I expected. The presentations were actually full of very worthwhile information from credible people, articulated aptly to a very government, academic, and corporate crowd, who genuinely took on board valuable insights. Good to know some of these key people are Decred holders and stakers as well. I got to use the entire day to speak directly with some of the most pivotal personalities in this particular populace. Ongoing relationships have been built and strengthened.". (photos: 123)
For those willing to help with the events:
BAB: Hey all, we are gearing up for conference season. I have a list of places we hope to attend but need to know who besides @joshuam and @Haon are willing to do public speaking, willing to work booths, or help out at them? You will need to be well versed on not just what is Decred, but the history of Decred etc... DM me if you are interested. (#event_planning) The Decred project is looking for ambassadors. If you are looking for a fun cryptocurrency to get involved in send me a DM or come talk to me on Decred slack. (@marco_peereboom, longer version here)
One private work channel was successfully migrated to Matrix.
Stylish room avatars were set.
@Haon has prepared a short guide to help new Matrix users get started and join the Decred rooms.
A thread was started to discuss changes to Decred jargon with the intent to make it more consistent and accessible to newcomers. The question whether changing "official" terminology requires stakeholder approval was touched in this thread and in #documentation.
Project fund transparency and constitution were extensively discussed on Reddit and in #general.
Pre-proposal to use Politeia to approve Politeia as a legitimate decision-making tool for Decred.
Reddit: substantive discussion about Decred cons; ecosystem fund; a thread about voter engagement, Politeia UX and trolling; idea of a social media system for Decred by @michae2xl; how profitable is the Obelisk DCR1. Chats: cross-chain trading via LN; plans for contractor management system, lower-level decision making and contractor privacy vs transparency for stakeholders; measuring dev activity; what if the network stalls, multiple implementations of Decred for more resilience, long term vision behind those extensive tests and accurate comments in the codebase; ideas for process for policy documents, hosting them in Pi and approving with ticket voting; about SPV wallet disk size, how compact filters work; odds of a wallet fetching a wrong block in SPV; new module system in Go; security of allowing Android app backups; why PoW algo change proposal must be specified in great detail; thoughts about NIPoPoWs and SPV; prerequisites for shipping SPV by default (continued); Decred vs Dash treasury and marketing expenses, spending other people's money; why Decred should not invade a country, DAO and nation states, entangling with nation state is poor resource allocation; how winning tickets are determined and attack vectors; Politeia proposal moderation, contractor clearance, the scale of proposals and decision delegation, initial Politeia vote to approve Politeia itself; chat systems, Matrix/Slack/Discord/RocketChat/Keybase (continued); overview of Korean exchanges; no breaking changes in vgo; why project fund burn rate must keep low; asymptotic behavior of Decred and other ccs, tail emission; count of full nodes and incentives to run them; Politeia proposal translations and multilingual environment. An unusual event was the chat about double negatives and other oddities in languages in #trading.
DCR started the month at USD 56 / BTC 0.0073 and had a two week decline. On Aug 14 the whole market took a huge drop and briefly went below USD 200 billion. Bitcoin went below USD 6,000 and top 100 cryptos lost 5-30%. The lowest point coincided with Bitcoin dominance peak at 54.5%. On that day Decred dived -17% and reached the bottom of USD 32 / BTC 0.00537. Since then it went sideways in the USD 35-45 / BTC 0.0054-0.0064 range. Around Aug 24, Huobi showed DCR trading volume above USD 5M and this coincided with a minor recovery. @ImacallyouJawdy posted some creative analysis based on ticket data.
StopAndDecrypt published an extensive article "ASIC Resistance is Nothing but a Blockchain Buzzword" that is much in line with Decred's stance on ASICs. The ongoing debates about the possible Sia fork yet again demonstrate the importance of a robust dispute resolution mechanism. Also, we are lucky to have the treasury. Mark B Lundeberg, who found a vulnerability in atomicswap earlier, published a concept of more private peer-to-peer atomic swaps. (missed in July issue) Medium took a cautious stance on cryptocurrencies and triggered at least one project to migrate to Ghost (that same project previously migrated away from Slack). Regulation: Vietnam bans mining equipment imports, China halts crypto events and tightens control of crypto chat groups. Reddit was hacked by intercepting 2FA codes sent via SMS. The announcement explains the impact. Yet another data breach suggests to think twice before sharing any data with any company and shift to more secure authentication systems. Intel and x86 dumpsterfire keeps burning brighter. Seek more secure hardware and operating systems for your coins. Finally, unrelated to Decred but good for a laugh: yetanotherico.com.
About This Issue
This is the 5th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here. Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research. Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack. Contributions are welcome too. Some areas are collecting content, pre-release review or translations to other languages. Check out @Richard-Red's guide how to contribute to Decred using GitHub without writing code. Credits (Slack names, alphabetical order): bee, Haon, jazzah, Richard-Red and thedecreddigest.
After analysing the entire Top100 and possible competitors outside of the Top100, I have built my 2018 100x portfolio
Last week I posted a comprehensive summary of all top 100 coins, the first of its kind, at least I don’t know another site that has a similar summary, that’s why I made it in the first place. While putting the summary together, I noticed that all coins can be categorized into only 12 markets. I also received a lot of comments and was able to use the feedback to further improve all description and 700 parameters to get as close to factual descriptions as possible. https://www.reddit.com/CryptoCurrency/comments/8a8lnwhich_are_your_top_5_favourite_coins_out_of_the/ This was all done with the goal in mind to find a portfolio that can go 100x through 2018. The portfolio is based on 3 factors.
Bitcoin will go up by 4x ($32,000) until the end of 2018 amassing a total market cap of 3$ trillion. At this point, Bitcoin will be worth $500M, and altcoins $2,5 trillion, placing Bitcoin dominance at 18%. Currently, it is at 39%.
The fact that altcoins go up at a much higher rate than Bitcoin. The smaller the market cap, the more an altcoin will go up, e.g. BNTY ($8M) will probably go up 200x to $160M, PRL ($50M) 100x to $5B, Nano ($1b) 30x to $30B, while Bitcoin goes up 4x. That's why it is much better to invest in Altcoins than in Bitcoin. Sure, Altcoins also go down much more than Bitcoin, but this portfolio is a year long hold.
The most important rule is not to invest more money than you can afford to lose. The second most important rule in investing is to diversify your investments into high rish (crypto, startups), medium risk (stock options, index funds) and low risk (real estate, pension) assets also while diversifying into different markets, so that not all eggs are in one basket, since some markets might die out and some will take off big time. You want to not be affected as much by dying markets, but you also want to definitely be in the successful markets. We are doing the same thing in our crypto portfolio, where we have at least 1 coin in all 12 markets. The market cloud computing was excluded, because it is rather small and uncertain.
For that reason, the portfolio is divided into approximately
25% High risk high return coins, which yield a return from 20x if they fail to deliver -1000x if they deliver or from a $10M market cap to a $200M-$10B market cap
50% Medium risk medium return coins, which yield a return from 50x if they underperform -200x if they deliver or from a $100M market cap to a $5B-$20B market cap
25% Low risk low return coins, which yield a return from 10x if they fail to deliver - 100x if they deliver or from a $1B market cap to a $10B-$100B market cap
You may ask, Nano, BNB, IOTA, VeChain will have a $100B market cap? Yes, this will happen if the Nano and/or IOTA network does what it's supposed to, because they will be faster, have no fees and use almost no energy to run and possibly replace Bitcoin. This can only happen if Nano and IOTA are able to process 100,000 TPS without losing decentralization and security. However, if they do as promised, Bitcoin will have to innovate very quickly to keep up. This also largely depends on how well the Lightning Network is able to scale up TPS, 50,000 TPS is good and will make Bitcoin able to keep Nano and IOTA in check, but with less TPS, it will be more problematic.
All coins are on Binance or KuCoin, except Saga and Sumo, which are on Cryptopia. All coins and their weights are listed on the second tab of my excel spread sheet: https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=1597706888 High risk high return 21%: 20x-1000x ($200M-$3b) These coins are supposed to have one 1000x-er coin among them. Ideally, you don’t want too many coins in here, because these coins are very early in development or unproven, so they could fizzle out and not give you a good return. However, you also don’t want too few coins in here, because you definitely want to catch the 1000x-er. 3 coins is most probably the sweet spot between having enough coins to catch a 1000x-er and havong not too many coins, so that even if you catch a 1000x-er, you only have 3% of your investment in it and it doesn’t return much. You could potentially add a 4th coin, but I didn’t find any other coin with a >$10M market cap that has very high potential and is in a strong market. Ideally, you want to exactly catch one 1000x-er, because it will make up for 50% of the returns of your portfolio. However, you don’t want to have more 1000x-ers to catch than 1, because there is no difference to only catching 1 with 8% invested in it to catching 2 with 4% each invested, only that the latter is much harder. Realistically speaking, you might catch a 200x-er among these coins, if you’re lucky, a 1000x-er.
8% BNTY is a platform where you can earn money through finding bugs, a bug bounty. BNTY soon wants to expand into “bounties” for gigs, like on fiverr or freelancer.com.
7% Sumo is a privacy coin, similar to Monero.
6% Saga is a stable coin out of the 6 that currently exist but with a tiny market cap besides Maker, DGD, USDT, Havven, Carbon. For risk mitigation, they are backed by Ycombinator and their team is comprised of Stanford graduates.
Medium risk medium return 55%: 20x-200x ($2B-$20B) These are the backbone of the portfolio, all legit projects with a product out already, a strong team, strong community and a potent market. All of these coins will probably make a 20x return and some a 100x-200x, possibly PRL, GAS and ENJ, that’s why they have more weight than the others.
10% PRL is in the decentralized data storage market as Siacoin, Gbyte, Maidsafecoin, Storj, only that it has a 5x smaller market cap and that it actually makes the storage useful by allowing people who store other people’s files to renounce ads and instead make their money through storing files.
13% Gas is an investment in NEO. It has been rumoured that GAS market cap will surpass NEO’s. For that reason, it is the same as investing in NEO, LISK, ARDR, etc. only that is has a 10x smaller market cap
9% ENJ is the investment in the gaming market. Enjin has a platform with already 15 million players and has already finalized a partnership with Minecraft
7% Enigma is privacy for smart contracts on Ethereum
6% Req is in the currency and liquidity exchange market just as QASH, Loopring, Cryptonex, bitshares, Kyber network, Bancor, ZRX, Achain, only that Req has probably the strongest community of all and is also more feature rich
7% Steem is the investment in social network coins. Steem can possibly replace reddit and already has an alexa rank of 1,000.
3% PIVX is the investment in privacy coins. PIVX has slightly superior technology than Monero at a 10x smaller market cap.
Low risk low return 24%: 10x-50x ($10B-$50B) These are the safest bets with a working product, a large community and among the most potential within the top100. Out of these, BNB is probably the safest bet of all, because it is directly tied to Binance, the exchange that has made it as the undisputed number 1 exchange due to excellent professionalism, transparency and intelligent leadership.
8% Vechain The most popular coin of all probably right now. Vechain is a supply chain platform
4% Nano Probably the fastest and most lightweight cryptocurrency right now with instant transactions, zero fees and one millionth the energy use of Bitcoin due to it’s 3rd generation blockchain, the block lattice.
7% IOTA Similar to Nano with instant transactions, zero fees, very low energy thanks to its 3rd generation blockchain the tangle. While it has bigger potential than Nano, it also still has some bugs and security issues to work out.
All in all, the high risk coins are expected to include 1 1000x coin, which would be achieved with Sumo going to only $3B, BTNY $8B or Saga to $4B. Since probably only one of these coins make it, the rest will probably perform somewhere around 100x, thus yielding a 200x return. Medium risk coins are expected to have 2 coins out of 8 to perform at 200x, which would make them go from around $100m to $20B. The rest will probably perform somewhere around 50x, thus yielding a 100x overall return. Low risk coins are expected to have 1 coins out of 4 to perform at 50x, which would make them go from around $1B to $50B. The rest will probably perform somewhere around 20x, thus yielding a 30x overall return. The high risk coins will probably give a 200x return including 1 1000x-er with a bit of luck, the medium risk coins 100x return with probably 1 or 2 200x-ers and the low risk coins possibly 30x with 1 50x with a bit of luck. This gives us a total return of 2000.21(42%) + 1000.55(55%) + 30*0.24(7.2%) = 104x. In case, we don't catch a 1000x-er in the high risk coins, the total return would be 1000.21(21%) + 1000.55(55%) + 30*0.24(7.2%) = 66x. To sum it up, I don’t know if Bitcoin will go 2x, 3x or 5x. However, it is not unlikely for Bitcoin to do this. Maybe it will even go up 20x like in the last bull run, maybe 30x. Maybe the total market cap will be $10 trillion in 2019, no one knows. You would have called me crazy last year if I had said that bitcoin will go from $1,000 to $20,000 within 12 months. Now, we are in the same situation again and there will probably several more 20x bull runs with a 70% correction. It has happened plenty of times before and it will happen again. The last bull runs were
Want to relay my recent experience to help other canucks entering the cryptocurrency scene. I wanted to invest 100K in both main coins and some alt coins. Depositing that amount can’t be done using ETF/bank-transfeetc. – the only reasonably quick way is to wire funds. For wires, most exchanges have a percentage based deposit fee – something that makes absolutely no sense to me. Whether you wire 1K or 1MM, the amount of work for the exchange is identical, so it should be a flat fee. Deciding on an exchange is more complicated than that though: each one has their own rules for minimums/maximums, trading fees, supported coins, holding periods, and withdrawal fees. They also can vary greatly on the amount of time verification takes. One thing to note is that pretty much all exchanges don’t charge a fee for inbound crypto transfers. 2 months ago I signed up for 10 exchanges (Coinbase/GDAX, Binance, Coinsquare, Kraken, ezBTC, QuadrigaCX, Bitfinex, Gemeni, Bittrex, Poloniex) and was verified on 7 of them (I’m still in queue for Gemeni, Bittrex, and Poloniex). Verification times gave me what I thought was a decent indicator of the level and quality of support I would receive. Of these exchanges, some have what I believe to be relatively high trading fees (Gemeni .25%, Bittrex, .25%, ezBTC .30%, QuadrigaCX .50%) vs lower maketaker fees (GDAX 0/.3%, Binance .1/.1%, Gitfinex .1/.2%, Coinsquare .1/.2%, Kraken .16/.26%). Still others have high percentage based wire fees. And finally, there’s a big disparity between withdrawal fees: free on some exchanes, vs fixed rate based on the coin for others, vs Coinsquare’s insane fixed 0.0025 BTC regardless of what coin or the amount being withdrawn. So here are some observations on the exchanges. Please note that the below is not a reflection on any of the people who work at the exchanges. I’m sure they are working as hard as they can and are doing their best. It’s just my experience. It’s also not financial advice. Also, I’m only human so feel free to offer corrections or better advice. Coinsquare: amazingly fast verification time, and for very large deposits seems to likely be the best option as they will let you speak to a human being by phone and will waive the deposit fee (I didn’t know this until later though). I excluded them because of their high 0.5% percentage based deposit fee and their crazy high withdrawal fee. They also only have support for 6 coins. QuadrigaCX: I had a terrible initial experience with QuadrigaCX’s support, so I immediately excluded them. They have high trading fees and there are many complaints of support tickets being ignored or having extremely lengthy wait times. They have a crazy high 1% percentage based CAD wire fee, but offer free USD wires. Note that they only support wires for large amounts. GDAX/Coinbase: Loads of good reviews, but only has support for 4 coins. Seems like they also don’t have a fee for crypto withdrawals. You also can’t seem to wire CAD or USD funds directly to GDAX. I think you may have to wire USD funds to Coinbase and then transfer them over to GDAX (for free). Kraken: I created an account but the verification page just appeared blank for me. After a few days, their support team got back to me telling me that they had a bug and that I needed to create a new account using a different email address and try again. That worked. I decided to use them as they seemed like the best all-around alternative. I was impressed with their support response (they gave me an answer that worked and responded in days as opposed to weeks), they offer a no-fee inbound CAD wire, support 16 coins, and have low (though not free) crypto withdrawal fees. They have also been around a while and have a good reputation (They were picked to handle MtGox claims). Wiring funds to them was a hair-raising experience though. You basically need to send your funds to an unknown bank in Tokyo, Japan. Kraken also has two slightly different sets of wire instructions: one that is on their website, and the other that their support folks send out. Only one of them mentions that you should tell your bank not to use an intermediary that will convert your currency. If you do things properly, and are lucky, you end up only paying ~$40 in fees. But chances are, you don’t, and end up paying 4%! (see https://www.reddit.com/BitcoinCA/comments/7rd6k8/fees_when_sending_to_krakencom/). You also have no idea how much the fees will be until the money finally shows up in your account. That’s tremendously unsettling. Luckily my bank branch manager was familiar with crypto currency wires and helped me do things properly. But, the wire took over 2 weeks to show up (Jan 18th), and Kraken support is so overloaded that they didn’t’ respond, despite me escalating my support ticket several times. I eventually had to resort to a reddit post to get a response to my support ticket. I gave support my wire receipt and answered lots of additional questions to help them try to “locate” it. Perhaps the worst part of my entire experience was that while my wire was being located, the entire crypto market tanked by 50%...and no one would respond to my support ticket…I felt helpless. A Kraken support rep a few days ago said that they are handing >50K new user registrations per day and have >20K new support tickets per day. I feel they should turn off new user registrations until they are capable of servicing existing customers. This is what their competitors have done. I found it disheartening to learn that the only way to get a response to my support ticket was to complain via social media --- many others have found the same. While I was waiting for my wire to appear Kraken had a >48h outage. Prior to the outage, the site was almost unusable as you’d receive constant 50x errors (I found this out prior to wiring my funds). After the outage, I find that their site is still barely usable. Pages take 10-15 seconds to load and when they do load many times they display errors so you have to continually retry until things work. At the end of the day though, they did come through for me: my wire arrived safely. So with my funds in Kraken, I tried to use them to purchase crypto. But no matter what I tried, none of the CAD dollar trading pairs would appear. I logged out and back in a few times and 15 minutes later, it suddenly started appearing. With the flakiness in Kraken’s platform, I had no choice but to transfer everything to a more stable and faster exchange: Binance: These guys have their shit in order. Super simple site navigation once you get used to it, fast verification times, blazingly fast website and trading engine, more than 50 coins supported, etc. But, they don’t support fiat – you must use one of the other exchanges to buy crypto with fiat and then transfer in your crypto. Gotta say it again: everything is super fast. Not just the page loads, but also trading, email confirmations, and withdrawals. Trading takes a bit of getting used to as you aren’t really buying or selling crypto…you are instead “trading” one crypto coin for another. Depending on the coin you want to purchase, you might have to trade your coin for BNB (binance’s own coin) and then trade BNB for the coin you desire. Be Your Own Bank: One final word of advice. Binance is awesome, but don’t trust anyone as despite everyone’s best intentions: no matter how secure a platform is, it can and will be hacked. As soon as you have done your shopping, transfer your coins off to your own wallet. This is why withdrawal fees are important. You might be asking: in hindsight, if I had to do it all over again, what would I do differently? To wire CAD funds I would try to use Coinsquare if it’s a big amount (after re-reading other people’s recent reviews). For USD wires, I might try using Gemeni, but I still haven’t been verified by them and have been waiting for almost 2 months. Before using either I would re-test how long it takes for a support ticket to be responded to. If you do wire funds, don't wire an exact round amount like "10,000.00", instead I would wire "10,070.45" so that it's easier to locate if things go wrong. Once the account has been funded I wouldn’t hesitate to transfer everything to another exchange if I wasn’t happy with the platform, the number of coin offerings, or quality of service I was receiving: you can always come back when things improve. Things change so quickly so not sure how helpful this will be…just wished I had known some of the above before starting.
Hello! My name is Slava Mikhalkin, I am a Project Owner of Crowdsale platform at Platinum, the company that knows how to start any ICO or STO in 2019. If you want to avoid headaches with launching process, we can help you with ICO and STO advertising and promotion. See the full list of our services: Platinum.fund I am also happy to be a part of the UBAI, the first educational institution providing the most effective online education on blockchain! We can teach you how to do ICO/STO in 2019. Today I want to tell you how to sell and transfer cryptocurrencies. Major Exchanges In finance, an exchange is a forum or platform for trading commodities, derivatives, securities or other financial instruments. The principle concern of an exchange is to allow trading between parties to take place in a fair and legally compliant manner, as well as to ensure that pricing information for any instrument traded on the exchange is reliable and coherently delivered to exchange participants. In the cryptocurrency space exchanges are online platforms that allow users to trade cryptocurrencies or digital currencies for fiat money or other cryptocurrencies. They can be centralized exchanges such a Binance, or decentralized exchanges such as IDEX. Most cryptocurrency exchanges allow users to trade different crypto assets with BTC or ETH after having already exchanged fiat currency for one of those cryptocurrencies. Coinbase and Kraken are the main avenue for fiat money to enter into the cryptocurrency ecosystem. Function and History Crypto exchanges can be market-makers that take bid/ask spreads as a commission on the transaction for facilitating the trade, or more often charge a small percentage fee for operating the forum in which the trade was made. Most crypto exchanges operate outside of Western countries, enabling them to avoid stringent financial regulations and the potential for costly and lengthy legal proceedings. These entities will often maintain bank accounts in multiple jurisdictions, allowing the exchange to accept fiat currency and process transactions from customers all over the globe. The concept of a digital asset exchange has been around since the late 2000s and the following initial attempts at running digital asset exchanges foreshadows the trouble involved in attempting to disrupt the operation of the fiat currency baking system. The trading of digital or electronic assets predate Bitcoin’s creation by several years, with the first electronic trading entities running afoul of the Australian Securities and Investments Commission (ASIC) in late 2004. Companies such as Goldex, SydneyGoldSales, and Ozzigold, shut down voluntarily after ASIC found that they were operating without an Australian Financial Services License. E-Gold, which exchanged fiat USD for grams of precious metals in digital form, was possibly the first digital currency exchange as we know it, allowing users to make instant transfers to the accounts of other E-Gold members. At its peak in 2006 E-Gold processed $2 billion worth of transactions and boasted a user base of over 5 million people. Popular Exchanges Here we will give a brief overview of the features and operational history of the more popular and higher volume exchanges because these are the platforms to which newer traders will be exposed. These exchanges are recommended to use because they are the industry standard and they inspire the most confidence. Bitfinex Owned and operated by iFinex Inc, the cryptocurrency trading platform Bitfinex was the largest Bitcoin exchange on the planet until late 2017. Headquartered in Hong Kong and based in the US Virgin Island, Bitfinex was one of the first exchanges to offer leveraged trading (“Margin trading allows a trader to open a position with leverage. For example — we opened a margin position with 2X leverage. Our base assets had increased by 10%. Our position yielded 20% because of the 2X leverage. Standard trades are traded with leverage of 1:1”) and also pioneered the use of the somewhat controversial, so-called “stable coin” Tether (USDT). Binance Binance is an international multi-language cryptocurrency exchange that rose from the mid-rank of cryptocurrency exchanges to become the market dominating behemoth we see today. At the height of the late 2017/early 2018 bull run, Binance was adding around 2 million new users per week! The exchange had to temporarily disallow new registrations because its servers simply could not keep up with that volume of business. After the temporary ban on new users was lifted the exchange added 240,000 new accounts within two hours. Have you ever thought whats the role of the cypto exchanges? The answer is simple! There are several different types of exchanges that cater to different needs within the ecosystem, but their functions can be described by one or more of the following: To allow users to convert fiat currency into cryptocurrency. To trade BTC or ETH for alt coins. To facilitate the setting of prices for all crypto assets through an auction market mechanism. Simply put, you can either mine cryptocurrencies or purchase them, and seeing as the mining process requires the purchase of expensive mining equipment, Cryptocurrency exchanges can be loosely grouped into one of the 3 following exchange types, each with a slightly different role or combination of roles. Have you ever thought about what are the types of Crypto exchanges?
Traditional Cryptocurrency Exchange: These are the type that most closely mimic traditional stock exchanges where buyers and sellers trade at the current market price of whichever asset they want, with the exchange acting as the intermediary and charging a small fee for facilitating the trade. Kraken and GDAX are examples of this kind of cryptocurrency exchange. Fully peer-to-peer exchanges that operate without a middleman include EtherDelta, and IDEX, which are also examples of decentralized exchanges.
Cryptocurrency Brokers: These are website or app based exchanges that act like a Travelex or other bureau-de-change. They allow customers to buy or sell crypto assets at a price set by the broker (usually market price plus a small premium). Coinbase is an example of this kind of exchange.
Direct Trading Platform: These platforms offer direct peer-to-peer trading between buyers and sellers, but don’t use an exchange platform in doing so. These types of exchanges do not use a set market rate; rather, sellers set their own rates. This is a highly risky form of trading, from which new users should shy away.
To understand how an exchange functions we need only look as far as a traditional stock exchange. Most all the features of a cryptocurrency exchange are analogous to features of trading on a traditional stock exchange. In the simplest terms, the exchanges fulfil their role as the main marketplace for crypto assets of all kinds by catering to buyers or sellers. These are some definitions for the basic functions and features to know: Market Orders: Orders that are executed instantly at the current market price. Limit Order: This is an order that will only be executed if and when the price has risen to or dropped to that price specified by the trader and is also within the specified period of time. Transaction fees: Exchanges will charge transactions fees, usually levied on both the buyer and the seller, but sometimes only the seller is charged a fee. Fees vary on different exchanges though the norm is usually below 0.75%. Transfer charges: The exchange is in effect acting as a sort of escrow agent, to ensure there is no foul play, so it might also charge a small fee when you want to withdraw cryptocurrency to your own wallet. Regulatory Environment and Evolution Cryptocurrency has come a long way since the closing down of the Silk Road darknet market. The idea of crypto currency being primarily for criminals, has largely been seen as totally inaccurate and outdated. In this section we focus on the developing regulations surrounding the cryptocurrency asset class by region, and we also look at what the future may hold. The United States of America A coherent uniform approach at Federal or State level has yet to be implemented in the United States. The Financial Crimes Enforcement Network published guidelines as early as 2013 suggesting that BTC and other cryptos may fall under the label of “money transmitters” and thus would be required to take part in the same Anti-money Laundering (AML) and Know your Client (KYC) procedures as other money service businesses. At the state level, Texas applies its existing finance laws. And New York has instituted an entirely new licensing system. The European Union The EU’s approach to cryptocurrency has generally been far more accommodating overall than the United States, partly due to the adaptable nature of pre-existing laws governing electronic money that predated the creation of Bitcoin. As with the USA, the EU’s main fear is money laundering and criminality. The European Central Bank (ECB) categorized BTC as a “convertible decentralized currency” and advised all central banks in the EU to refrain from trading any cryptocurrencies until the proper regulatory framework was put in place. A task force was then set up by the European Parliament in order to prevent and investigate any potential money laundering that was making use of the new technology. Likely future regulations for cryptocurrency traders within the European Union and North America will probably consist of the following proposals: The initiation of full KYC procedures so that users cannot remain fully anonymous, in order to prevent tax evasion and curtail money laundering. Caps on payments that can be made in cryptocurrency, similar to caps on traditional cash transactions. A set of rules governing tax obligations regarding cryptocurrencies Regulation by the ECB of any companies that offer exchanges between cryptocurrencies and fiat currencies It is less likely for other countries to follow the Chinese approach and completely ban certain aspects of cryptocurrency trading. It is widely considered more progressive and wiser to allow the technology to grow within a balanced accommodative regulatory framework that takes all interests and factors into consideration. It is probable that the most severe form of regulation will be the formation of new governmental bodies specifically to form laws and exercise regulatory control over the cryptocurrency space. But perhaps that is easier said than done. It may, in certain cases, be incredibly difficult to implement particular regulations due to the anonymous and decentralized nature of crypto. Behavior of Cryptocurrency Investors by Demographic Due to the fact that cryptocurrency has its roots firmly planted in the cryptography community, the vast majority of early adopters are representative of that group. In this section we cover the basic structure of the cryptocurrency market cycle and the makeup of the community at large, as well as the reasons behind different trading decisions. The Cryptocurrency Market Cycle Bitcoin leads the bull rally. FOMO (Fear of missing out) occurs, the price surge is a constant topic of mainstream news, business programs cover the story, and social media is abuzz with cryptocurrency chatter. Bitcoin reaches new All Timehigh (ATH) Market euphoria is fueled with even more hype and the cycle is in full force. There is a constant stream of news articles and commentary on the meteoric, seemingly unstoppable rise of Bitcoin. Bitcoin’s price “stabilizes”, In the 2017 bull run this was at or around $14,000. A number of solid, large market cap altcoins rise along with Bitcoin; ETH & LTC leading the altcoins at this time. FOMO comes into play, as the new ATH in market cap is reached by pumping of a huge number of alt coins. Top altcoins “somewhat” stabilize, after reaching new all-time highs. The frenzy continues with crypto success stories, notable figures and famous people in the news. A majority of lesser known cryptocurrencies follow along on the upward momentum. Newcomers are drawn deeper into crypto and sign up for exchanges other than the main entry points like Coinbase and Kraken. In 2017 this saw Binance inundated with new registrations. Some of the cheapest coins are subject to massive pumping, such as Tron TRX which saw a rise in market cap from $150 million at the start of December 2017 to a peak of $16 billion! At this stage, even dead coins or known scams will get pumped. The price of the majority of cryptocurrencies stabilize, and some begin to retract. When the hype is subsiding after a huge crypto bull run, it is a massive sell signal. Traditional investors will begin to give interviews about how people need to be careful putting money into such a highly volatile asset class. Massive violent correction begins and the market starts to collapse. BTC begins to fall consistently on a daily basis, wiping out the insane gains of many medium to small cap cryptos with it. Panic selling sweeps through the market. Depression sets in, both in the markets, and in the minds of individual investors who failed to take profits, or heed the signs of imminent collapse. The price stagnation can last for months, or even years. The Influence of Age upon Trading Did you know? Cryptocurrencies have been called “stocks for millennials” According to a survey conducted by the Global Blockchain Business Council, only 5% of the American public own any bitcoin, but of those that do, an overwhelming majority of 71% are men, 58% of them are between the ages of 18 and 35, and over half of them are minorities. The same survey gauged public attitude toward the high risk/high return nature of cryptocurrency, in comparison to more secure guaranteed small percentage gains offered by government bonds or stocks, and found that 30% would rather invest $1,000 in crypto. Over 42% of millennials were aware of cryptocurrencies as opposed to only 15% of those ages 65 and over. In George M. Korniotis and Alok Kumar’s study into the effects of aging on portfolio management and the quality of decisions made by older investors, they found “that older and experienced investors are more likely to follow “rules of thumb” that reflect greater investment knowledge. However, older investors are less effective in applying their investment knowledge and exhibit worse investment skill, especially if they are less educated and earn lower income.” Geographic Influence upon Trading One of the main drivers of the apparent seasonal ebb and flow of cryptocurrency prices is the tax situation in the various territories that have the highest concentrations of cryptocurrency holders. Every year we see an overall market pull back beginning in mid to late January, with a recovery beginning usually after April. This is because “Tax Season” is roughly the same across Europe and the United States, with the deadline for Income tax returns being April 15th in the United States, and the tax year officially ending the UK on the 6th of April. All capital gains must be declared before the window closes or an American trader will face the powerful and long arm of the IRS with the consequent legal proceedings and possible jail time. Capital gains taxes around the world vary from jurisdiction to jurisdiction but there are often incentives for cryptocurrency holders to refrain from trading for over a year to qualify their profits as long term gain when they finally sell. In the US and Australia, for example, capital gains are reduced if you bought cryptocurrency for investment purposes and held it for over a year. In Germany if crypto assets are held for over a year then the gains derived from their sale are not taxed. Advantages like this apply to individual tax returns, on a case by case basis, and it is up to the investor to keep up to date with the tax codes of the territory in which they reside. 2013 Bull run vs 2017 Bull run price Analysis In late 2016 cryptocurrency traders were faced with the task of distinguishing between the beginnings of a genuine bull run and what might colorfully be called a “dead cat bounce” (in traditional market terminology). Stagnation had gripped the market since the pull-back of early 2014. The meteoric rise of Bitcoin’s price in 2013 peaked with a price of $1,100 in November 2013, after a year of fantastic news on the adoption front with both Microsoft and PayPal offering BTC payment options. It is easy to look at a line going up on a chart and speak after the fact, but at the time, it is exceeding difficult to say whether the cat is actually climbing up the wall, or just bouncing off the ground. Here, we will discuss the factors that gave savvy investors clues as to why the 2017 bull run was going to outstrip the 2013 rally. Hopefully this will help give insight into how to differentiate between the signs of a small price increase and the start of a full scale bull run. Most importantly, Volume was far higher in 2017. As we can see in the graphic below, the 2017 volume far exceeds the volume of BTC trading during the 2013 price increase. The stranglehold MtGox held on trading made a huge bull run very difficult and unlikely. Fraud & Immoral Activity in the Private Market Ponzi Schemes Cryptocurrency Ponzi schemes will be covered in greater detail in Lesson 7, but we need to get a quick overview of the main features of Ponzi schemes and how to spot them at this point in our discussion. Here are some key indicators of a Ponzi scheme, both in cryptocurrencies and traditional investments: A guaranteed promise of high returns with little risk. Consistentflow of returns regardless of market conditions. Investments that have not been registered with the Securities and Exchange Commission (SEC). Investment strategies that are a secret, or described as too complex. Clients not allowed to view official paperwork for their investment. Clients have difficulties trying to get their money back. The initial members of the scheme, most likely unbeknownst to the later investors, are paid their “dividends” or “profits” with new investor cash. The most famous modern-day example of a Ponzi scheme in the traditional world, is Bernie Madoff’s $100 billion fraudulent enterprise, officially titled Bernard L. Madoff Investment Securities LLC. And in the crypto world, BitConnect is the most infamous case of an entirely fraudulent project which boasted a market cap of $2 billion at its peak. What are the Exchange Hacks? The history of cryptocurrency is littered with examples of hacked exchanges, some of them so severe that the operation had to be wound up forever. As we have already discussed, incredibly tech savvy and intelligent computer hackers led by Alexander Vinnik stole 850000 BTC from the MtGox exchange over a period from 2012–2014 resulting in the collapse of the exchange and a near-crippling hammer blow to the emerging asset class that is still being felt to this day. The BitGrail exchange suffered a similar style of attack in late 2017 and early 2018, in which Nano (XRB) was stolen that was at one point was worth almost $195 million. Even Bitfinex, one of the most famous and prestigious exchanges, has suffered a hack in 2016 where $72 million worth of BTC was stolen directly from customer accounts. Hardware Wallet Scam Case Study In late 2017, an unfortunate character on Reddit, going by the name of “moody rocket” relayed his story of an intricate scam in which his newly acquired hardware wallet was compromised, and his $34,000 life savings were stolen. He bought a second hand Nano ledger into which the scammers own recover seed had already been inserted. He began using the ledger without knowing that the default seed being used was not a randomly assigned seed. After a few weeks the scammer struck, and withdrew all the poor HODLer’s XRP, Dash and Litecoin into their own wallet (likely through a few intermediary wallets to lessen the very slim chances of being identified). Hardware Wallet Scam Case Study Social Media Fraud Many gullible and hapless twitter users have fallen victim to the recent phenomenon of scammers using a combination of convincing fake celebrity twitter profiles and numerous amounts of bots to swindle them of ETH or BTC. The scammers would set up a profile with a near identical handle to a famous figure in the tech sphere, such as Vitalik Buterin or Elon Musk. And then in the tweet, immediately following a genuine message, follow up with a variation of “Bonus give away for the next 100 lucky people, send me 0.1 ETH and I will send you 1 ETH back”, followed by the scammers ether wallet address. The next 20 or so responses will be so-called sockpuppet bots, thanking the fake account for their generosity. Thus, the pot is baited and the scammers can expect to receive potentially hundreds of donations of 0.1 Ether into their wallet. Many twitter users with a large follower base such as Vitalik Buterin have taken to adding “Not giving away ETH” to their username to save careless users from being scammed. Market Manipulation It also must be recognized that market manipulation is taking place in cryptocurrency. For those with the financial means i.e. whales, there are many ways in which to control the market in a totally immoral and underhanded way for your own profit. It is especially easy to manipulate cryptos that have a very low trading volume. The manipulator places large buy orders or sell walls to discourage price action in one way or the other. Insider trading is also a significant problem in cryptocurrency, as we saw with the example of blatant insider trading when Bitcoin Cash was listed on Coinbase. Examples of ICO Fraudulent Company Behavior In the past 2 years an astronomical amount of money has been lost in fraudulent Initial Coin Offerings. The utmost care and attention must be employed before you invest. We will cover this area in greater detail with a whole lesson devoted to the topic. However, at this point, it is useful to look at the main instances of ICO fraud. Among recent instances of fraudulent ICOs resulting in exit scams, 2 of the most infamous are the Benebit and PlexCoin ICOs which raised $4 million for the former and $15 million for the latter. Perhaps the most brazen and damaging ICO scam of all time was the Vietnamese Pincoin ICO operation, where $660million was raised from 32,000 investors before the scammer disappeared with the funds. In case of smaller ICO “exit scamming” there is usually zero chance of the scammers being found. Investors must just take the hit. We will cover these as well as others in Lesson 7 “Scam Projects”. Signposts of Fraudulent Actors The following factors are considered red flags when investigating a certain project or ICO, and all of them should be considered when deciding whether or not you want to invest. Whitepaper is a buzzword Salad: If the whitepaper is nothing more than a collection of buzzwords with little clarity of purpose and not much discussion of the tech involved, it is overwhelmingly likely you are reading a scam whitepaper. Signposts of Fraudulent Actors §2 No Code Repository: With the vast majority of cryptocurrency projects employing open source code, your due diligence investigation should start at GitHub or Sourceforge. If the project has no entries, or nothing but cloned code, you should avoid it at all costs. Anonymous Team: If the team members are hard to find, or if you see they are exaggerating or lying about their experience, you should steer clear. And do not forget, in addition to taking proper precautions when investing in ICOs, you must always make sure that you are visiting authentic web pages, especially for web wallets. If, for example, you are on a spoof MyEtherWallet web page you could divulge your private key without realizing it and have your entire portfolio of Ether and ERC-20 tokens cleaned out. Methods to Avoid falling Victim Avoiding scammers and the traps they set for you is all about asking yourself the right questions, starting with: Is there a need for a Blockchain solution for the particular problem that a particular ICO is attempting to solve? The existing solution may be less costly, less time consuming, and more effective than the proposals of a team attempting to fill up their soft cap in an ICO. The following quote from Mihai Ivascu, the CEO of Modex, should be kept in mind every time you are grading an ICO’s chances of success: “I’m pretty sure that 95% of ICOswill not last, and many will go bankrupt. ….. not everything needs to be decentralized and put on an open source ledger.” Methods to Avoid falling Victim §2 Do I Trust These People with My Money, or Not? If you continue to feel uneasy about investing in the project, more due diligence is needed. The developers must be qualified and competent enough to complete the objectives that they have set out in the whitepaper. Is this too good to be true? All victims of the well-known social media scams using fake profiles of Vitalik Buterin, or Bitconnect investors for that matter, should have asked themselves this simple question, and their investment would have been saved. In the case of Bitconnect, huge guaranteed gains proportional to the amount of people you can get to sign up was a blatant pyramid scheme, obviously too good to be true. The same goes for Fake Vitalik’s offer of 1 ether in exchange for 0.1 ETH. Selling Cryptocurrencies, Several reasons for selling with the appropriate actions to take: If you are selling to buy into an ICO, or maybe believe Ether is a safer currency to hold for a certain period of time, it is likely you will want to make use of the Ether pair and receive Ether in return. Obviously if the ICO is on the NEO or WANchain blockchain for example, you will use the appropriate pair. -Trading to buy into another promising project that is listing on the exchange on which you are selling (or you think the exchange will experience a large amount of volume and become a larger exchange), you may want to trade your cryptocurrency for that exchange token. -If you believe that BTC stands a good chance of experiencing a bull run then using the BTC trading pair is the suitable choice. -If you believe that the market is about to experience a correction but you do not want to take your gains out of the market yet, selling for Tether or “tethering up” is the best play. This allows you to keep your locked-in profits on the exchange, unaffected by the price movements in the cryptocurrency markets,so that you can buy back in at the most profitable moment. -If you wish to “cash out” i.e. sell your cryptocurrency for fiat currency and have those funds in your bank account, the best pair to use is ETH or BTC because you will likely have to transfer to an exchange like Kraken or Coinbase to convert them into fiat. If the exchange offers Litecoin or Bitcoin Cash pairs it could be a good idea to use these for their fast transaction time and low fees. Selling Cryptocurrencies Knowing when and how to sell, as well as strategies to inflate the value of your trade before sale, are important skills as a trader of any product or financial instrument. If you are satisfied that the sale itself of the particular amount of a token or coin you are trading away is the right one, then you must decide at what price you are going to sell. Exchanges exercise their own discretion as to which trading “pairs” they will offer, but the most common ones are BTC, ETH, BNB for Binance, BIX for Bibox etc., and sometimes Tether (USDT) or NEO. As a trader, you decide which particular cryptocurrency to exchange depending on your reason for making that specific trade at that time. Methods of Sale Market sell/Limit sell on exchange: A limit sell is an order placed on an exchange to sell as soon as (also specifically only if and when) the price you specified has been hit within the time limit you select. A market order executes the sale immediately at the best possible price offered by the market at that exact time. OTC (or Over the Counter) selling refers to sale of securities or cryptocurrencies in any method without using an exchange to intermediate the trade and set the price. The most common way of conducting sales in this manner is through LocalBitcoins.com. This method of cryptocurrency selling is far riskier than using an exchange, for obvious reasons. The influence and value of your Trade There are a number of strategies you can use to appreciate the value of your trade and thus increase the Bitcoin or Ether value of your portfolio. It is important to disassociate yourself from the dollar value of your portfolio early on in your cryptocurrency trading career simply because the crypto market is so volatile you will end up pulling your hair out in frustration following the real dollar money value of your holdings. Once your funds have been converted into BTC and ETH they are completely in the crypto sphere. (Some crypto investors find it more appropriate to monitor the value of their portfolio in satoshi or gwei.) Certainly not limited to, but especially good for beginners, the most reliable way to increase your trading profits, and thus the overall value and health of your portfolio, is to buy into promising projects, hold them for 6 months to a year, and then reevaluate. This is called Long term holding and is the tactic that served Bitcoin HODLers quite well, from 2013 to the present day. Obviously, if something comes to light about the project that indicates a lengthy set back is likely, it is often better to cut your losses and sell. You are better off starting over and researching other projects. Also, you should set initial Price Points at which you first take out your original investment, and then later, at which you take out all your profits and exit the project. That should be after you believe the potential for growth has been exhausted for that particular project. Another method of increasing the value of your trades is ICO flipping. This is the exact opposite of long term holding. This is a technique in which you aim for fast profits taking advantage of initial enthusiasm in the market that may double or triple the value of ICO projects when they first come to market. This method requires some experience using smaller exchanges like IDEX, on which project tokens can be bought and sold before listing on mainstream exchanges. “Tethering up” means to exchange tokens or coins for the USDT stable coin, the value of which is tethered to the US Dollar. If you learn, or know how to use, technical analysis, it is possible to predict when a market retreatment is likely by looking at the price movements of BTC. If you decide a market pull back is likely, you can tether up and maintain the dollar value of your portfolio in tether while other tokens and coins decrease in value. The you wait for an opportune moment to reenter the market. Market Behavior in Different Time Periods The main descriptors used for overall market sentiment are “Bull Market” and “Bear Market”. The former describes a market where people are buying on optimism. The latter describes a market where people are selling on pessimism. Fun (or maybe not) fact: The California grizzly bear was brought to extinction by the love of bear baiting as a sport in the mid 1800s. Bears were highly sought after for their intrinsic fighting qualities, and were forced into fighting bulls as Sunday morning entertainment for Californians. What has this got to do with trading and financial markets? The downward swipe of the bear’s paws gives a “Bear market” its name and the upward thrust of a Bull’s horns give the “Bull Market” its name. Most unfortunately for traders, the bear won over 80% of the bouts. During a Bull market, optimism can sometimes grow to be seemingly boundless, volume is rising, and prices are ascending. It can be a good idea to sell or rebalance your portfolio at such a time, especially if you have a particularly large position in one holding or another. This is especially applicable if you need to sell a large amount of a relatively low-volume holding, because you can then do so without dragging the price down by the large size of your own sell order. Learn more on common behavioral patterns observed so far in the cryptocurrency space for different coins and ICO tokens. Follow the link: UBAI.co If you want to know how do security tokens work, and become a professional in crypto world contact me via Facebook to get all the details: Facebook
A long story and lesson about trusting people and managing expectations
So I'm not sure I'd you guys will enjoy this story or if it will just be removed but I currently need to vent because well this happened. And I've lost alot of faith in people. If you don't feel like reading the whole thing I tried to put a TL;DR in each paragraph. Trading- So to kindof preface the story, I am a young guy that is very interested in all things finance such as investing/trading. Because of this I got involved into the Foreign Exchange market(Forex) at the beginning of 2016 and I got very lucky going from $200 to ~$15,000 in 6 months and then unluckily went from ~$15,000 to $0 in less than a minute. So while I was trading this I still worked my normal job(military) and at this job people knew I was trading and doing quite well, they'd frequently ask where I'm at with my trading. So when I lost everything I still thought I will trade again but I'll wait until the new year of 2017. -TL;DR- 2016- Young, like finance, made alot of money, lost all of it and plan to try again. First half of 2017- So during my trading in 2016 I had offered to alot of people at work that I would teach them or show them how to trade. At the time I really just wanted to have someone at work to talk about trading because all I really had was Reddit for Forex talk. So in 2017 I start up again and one of the Civilians I work with decides he wants to join me in trading (most military jobs have civilian slots where they do basically the same thing but get paid 2-3x more, in this case retired mil now civilian). So I help him get setup very excitedly because I finally have someone to talk about trading with he also says he will put in ~$200 to start with as well. So I think oh awesome I can teach you better since our accounts will be the same, so I trade by myself talking to let's call him Civ about trading consistently for about 3-4 weeks. One day suddenly Civ says "hey I put money into my account what are we trading today?" So obviously I'm like "awesome today I'm gonna trade this pair and I think it's a good setup" Civ says OK I put a trade in. So I go about my day and I don't see him until around the end of the day and our trade did go well, I had made about $45 on my at the time $130 account so I'm pretty happy at this point. So I see Civ and he's like super happy and this was our conversation Civ- "wow that was a good trade man" Me-"Yeah pretty good return for a day" Civ- "So how much did you make today?" Me- "I made $45 so like 40ish% pretty sweet" Civ- "man I made a little over $70,000" yes that is $70,000 Me- "....What the fuck? But how?" Civ- "well I kindof put in close to $75,000!" Me- "but even if you scaled up how did you make almost 100%?" Civ- "well I kindof just put in a trade as if I had $200,000 in the account, and then I did another one" So at this point I'm just completely blown away that he just made double what I make in a year in under 8 hours, but after the complete shock and awe wears off I'm legitimately happy for him because I helped in the trade but it definitely made my $45 feel like nothing. So to speed this story up what I just said above actually happens about 3 more times to the point where he makes over $140,000 thanks to the trades that I let him know about. But eventually I start to seriously resent him cause his true character starts to show in a series of events. First he starts to claim the trades were all his idea never even giving me credit, second he never even thanks me for helping him make 4 times as much as I get a year. Third he Basicly tries to rub it in my face a few times throughout this mess saying things like "you should put more money in so you can make more" or "just put half you paycheck in" which is pretty much impossible considering I'm a young E3 at the time and I don't have just money to blow. And fourth he tries to throw me under the bus multiple times for things I didn't do at work. Now here comes in Dirtbags 1 and 2 these two are the worst enlisted personnel I've ever seen but are basically protected by Civ he always stands up for them to higher ups and keeps them from getting in trouble by blaming others for there mistakes and they know this(They will be important later on). There is alot of icing on the cake as far as these 3 but I'm not gonna make this story any longer than it has to be. TL;DR- Help Civ make shitloads of money, Civ shits on me and starts a Sortof witch hunt after me, no longer trade with Civ. Civ in a nutshell- now this Summary of who Civ is isn't really important to the story(skip if ud like) but I felt a need to explain this guy so that people have an understanding of who I'm dealing with. Civ is Basicly a true narcissist he encompasses every meaning of the word. At work he chooses favourites and actively tries to ruin the careers of everyone that isn't his favourite and he's one of those people that laughs about everything he says, he does this so that he can decide based on your reaction if he wants it to be a joke or be serious since every "joke" is in a somewhat demeaning tone. He knows nothing about saving or investing in fact he actually gambles everyday via online poker or fantasy football, during football season hes openly said he gambles over $500 a day since he "wins quite frequently". He's a 45 year old man with a family and kids but he expects invites too all the house parties that people at work have and if he doesn't he has a legitimate hissy fit where I've seen him actually curse people out about how he will no longer invite anyone else to do anything with him(he doesn't do anything tho). He tries to be the guy at work thats "just so cool you gotta be friends with him" but there's a few of us who see straight through his lies and BS. TL;DR- Civ=Narcissistic man child with a gambling problem. Second half of 2017- So I no longer really talk to Civ we talk work related stuff here and there at this point I know he's very two faced and selfish so I avoid him because I can see straight through it. In around July we have a conversation about the up and coming Crypto currencies I tell him I don't really have any idea how to judge if they will keep going up or not. Supposedly Civ buys 0.30-0.40 a Bitcoin(BTC) not sure the price he got it at. Around this time he was pestering me for trades everyday which at this point I'd lost what I put in so I was no longer trading. But when I'd tell him that he took it personally kindof as if I owe him more trades(wtf right?) So I just basically ignore his asshole tones and go about my day. Around this time Civ gets out of Forex he tells me he withdrew over $240,000. Also tells me he never told his wife he made anything and that she thinks he only has like $2,000 in the account(more signs of a gambling addiction). FAST FORWARD to about 2-3 weeks ago- At this point I really don't care about Civ being ungrateful of all the money I've made him and in my life im getting hardcore into crypto currencies. I see BTC hit an insane high of over $18,000 and I see Civ the next day and ask about the BTC he bought he says he's still got it not paying attention to BTC at all tho so I tell him about it and how it could be a time to get out and get into something else so he says OK and that he will look into it. Next day Civ says hey I got out what should I do with it I want to keep it in Crypto, so I tell him about Litecoin and how it's cheaper and promising so he buys 55 Litecoin. (Why am I still helping this guy right? I have no idea) FAST FORWARD to this week- Litecoin explodes to $335 a coin when Civ got in at $90 a coin so he makes about $18,000. I'm pretty happy for him because I called another good investment even tho my little $350 crypto account hardly moved, at this point I don't expect anything from Civ because I expect he's still two faced. This time I actually show him the Litecoin price at work and he's super happy and actually thanks me so I'm like wow that's surprising. But then proceeds to tell co-worker's that he did this on his own (of course). Civ then asks me what he should do now. So at this point I just think well whatever I'm used to this and I'm never getting anything out of this so what's one last investment that I give him gonna hurt right? So I tell Civ about other altcoins on Binance.com and how he needs to get a Binance account to get to them instead of his Currently Coinbase account so he is like okay cool. NOW IT GETS FUCKING INTERESTING- so I tell Civ to get a Binance account and what Coins could be big here soon and he says he will make an account. Remember that Binance has a referral system going on and so I look into it and see that Binance would give me 50% OF WHAT HE DEPOSITS AS A REFERRAL REWARD AND IM FINALLY GONNA GET SOME SORT OF REWARD FOR ALL THE MONEY I'VE HELPED HIM MAKE AND IT WON'T COST HIM ANYTHING. It hits me like a freight train that if he uses my referral code I can get potentially $8,000 into my little coin account. I start to get excited BUT then remember who I'm dealing with so first I sent him my referral code and he says "cool no problem" then I start to think shit what if he forgets to put the code in so I text him again but this time IFU by saying "Hey if you have any questions let me know just don't forget to put in my Referral code cause I get free BTC lol" .....TIFU by showing a narcissist how to fuck someone over....AGAIN. So on the Binance referral page it shows you the first few letters of the person's email that used the referral and how much commission you have made from said person. Civ says he's going to make an account on Binance that night I say OK cool. That night my referral page gets one attached email that doesn't have letters I'm expecting so I'm kindof confused then I remember Civ is a 45 year old Neckbeard gamer so he likely had a wierd email address. No big deal, I see Civ next day at work and ask him how his account setup went (usually takes a few days) he says great and that DIRTBAG #2 also wants to get into crypto so he gave DB2 my referral code. .... Wait a minute the email attached to my account was actually DB2s because the first letters are his Initials of his name no doubt about it. But I don't think this is wierd at the time I carry on through out my week. UNTIL TODAY(Yes an actual TIFU) I see Civ at work (this is three days after he was supposed to setup his account and it still hasn't popped up on my referral list) and he says "I'm actually gonna not put money in to anything without doing research" this to me is wierd because for the last year he's made over $155,000 by literally doing no research and just listening to me. So I say cool whatever good idea. Meanwhile I'm also weirded out by how DB2 has not talked to me about crypto at all since using my referral code and he's been in this extremely happy mood lately so I'm like wtf is going on? Since I had taught DB2 Forex less than a year ago and he had the IQ of a house fly this strikes me as extremely odd compared to when I taught him last he wouldn't stop asking questions. BUT THEN IT HIT ME today when I got home I checked my referrals again because I was still pretty excited for $8,000 and how much it will help me and my wife with Christmas this year and then seeing that he hasn't popped up on the referral list it dawned on me. When I exposed that I would get free BTC to Civ he took it upon himself to have DB2 create an account on Binance and use my referral code so that I would think this was Civ meanwhile Civ put in DB2s referral code giving DB2 $8,000 and then he proceeds to lie to me. Going into investigative mode after calming down from an absolute rage I text DB2 knowing he literally knows Zero about crypto and my hypothesis being very very plausible I go to the weakest link directly and that's the low IQ DB2 and I start to talk to him about crypto first he says he has a Binance account with a bit of coins so I ask him what's next and he tells me he needs to get a coinbase account...... Which is Basicly the only way to put money into crypto so I ask him how he put money in before if he wasn't using coinbase and he says "I think it was Coinable.com" So I continue the conversation about crypto trying to get more of a clue of what Coins he owns he of course lists the exact list I gave Civ earlier that week . At this point I'm about 98% sure my hypothesis is correct and that I work with two of the most narcissistic people I've ever met. BUT THEN I get confirmation in the form of DB2 Being so clueless about crypto because he explains that he has "about 0.23 of BTC" which is roughly $4,000 which I know DB2 Does not have due to the fact that he recently totaled his 4th car this year. So Civ had DB2 create an account on Binance in order to give DB2 $8,000 in free money and to avoid giving me a single dime even tho I'm the one that's helped him make over $155,000 this year and then continues to lie to me thinking that I'm to stupid to figure this out. This is the single most fucked up thing I've ever personally seen happen to someone, and of course that someone is myself. Also to clarify the $8,000 does not come out of Civs pocket it comes out of Binances pocket as a thank you to getting people on their site so literally wouldn't cost Civ a dime. TL;DR(FULL) I help a narcissistic piece of shit make over $155,000 in a year and he avoids giving me anything in return at all at all costs. Now myself personally I made the mistake of putting myself in Civs shoes, you have a 21 year old guy at work that helps you make over a years salary and so I thought oh I'd totally being super appreciative and buy him lunch or maybe dgive him less than 1% of what he just earned you but this is where I really fucked up. In starting to put myself in his shoes I started to just completely resent Civ and everything about him because I started to feel like I deserve something. In the Forex community there are people who will trade your money for you or give you signals and those people can make lots of money either % returns of each trade or $ amounts for each signal. Looking back I shouldof come up with a Sortof contract after that first trade with Civ but at the time I didn't know what kindof person he really was. I'm posting it here because it's kindof a lesson I've now learned on not to trust people to be decent to you in return when it comes to investing/trading I've learned that as you guys have probably seen or know about how certain people get extremely inflated ego when it comes to trading/investing. And if your ever in a situation where you could make someone alot of money just do yourself a favour and draft a small document of how that person should give you about 10% of what they make. That alone should tell you what you need to know about the person is how they react to signing a contract like that. Take it from a practically broke Enlisted member who just made a well off guy way more cushioned.
Our most recent AMA with CEO William Heyn discussing key topics, including his experiences and vision, FX Trading and more!
AMA with CEO William Heyn “Good Morning fellow, TIOnauts, Bill here, getting ready to answer your questions in the upcoming AMA I wanted to get an early start by addressing one big question we have been getting. It is always a bit unsettling when a big name leaves a company's board, we understand. However, please remember, there is a lot more to being on a corporate board than just advising a company on its business path. There are meetings, board votes, board minutes and so on, all of the things that the public doesn't see that directors do - and spend a lot of time on. But let's be honest about what you all want from a big player like Chien, you want him to be involved in advising the company and helping us move forward and grow, right? Do you care if he is going to cast a vote to second the board motion to approve the minutes from the last board meeting? So as we have said, Chien is going to stay involved as an advisor, he is just letting go on some of the more mundane aspects of being a board member. As most of you know, Chien is a rock star and we are lucky to have had him on the board for the last year, now he is going to spend some of his time on other things - most importantly Forbes Crypto, which directly benefits trade.io - but he is still going to be involved in the strategic direction of the company.” Q. how much trade.io own from Forbes?A. Hi Pacimaker, got it, thanks for the question, so all I can say is that it is a meaningful amount - beyond that I am not at liberty to say Q. Bill what are your thoughts on both trade.io for 2019 & the crypto market in general?A. Thanks for the question CB, so I mentioned in my first letter that I am a market optimist, I feel that crypto in general will find its natural bottom and come back. As for trade.io, we are looking forward to a great year with lots of things to develop and improve Q. What are the changes in the company strategy with the recent changes in trade.io management and the crypto market as well?A. I don't think that we have changed a lot in the company strategy, we just have some new faces to help move the company forward as we see best Q. Why do much dump? Just because of Chien Lee?A. You got me Ironfist - I don't know why anyone would be dumping - it sure wasn't me Q As trade.io is into many initiatives it is good to know how much already spent and how much they have reserves. A. Agreed and understood, please keep faith, we are committed to transparency and openness, we are in good shape for now, but some things we need to keep a little quiet on - so no exact number just yet Q. Hope it won't seem too negative but I'm wondering if in the future the company will try more to consider the optics of moving around the big names. Maybe the news that Mr Presissler was stepping down could have been done at the same time as this latest announcement to get it all over with instead of pulling off the band-aid much slower. A. Thanks for the question, so you are completely right, optics are important, and I think you will believe me when I say if there was a way for it to be less painful we would have found it but in these cases we need to be transparent - so for example, waiting a significant amount of time after I took over just to make it one announcement with Chien wouldn't have been responsible. Krisoffer added “Thanks guys, I appreciate the answer. But as you know, a lot of people might just see the headlines and make decisions based on that, that was my concern. But thank you!” Bill “Agreed Kristoffer, but we need to balance being as transparent as possible with what is easy, right?” Jim P added: “Agreed, but we are still working closely with Bill. We are in constant communication.” Q. Who do you think is the most difficult thing to be done now?A. So, I'm not sure my fingers would take the typing of the full list here, lots to be done, but in general, I look at it like this, trade.io is growing up, companies go through stages and we are entering a new one, we have grown so fast and done so many great things we need to take stock now and see what is working and what is not going exactly as planned and then adjust - very typical for a company of this stage Q. Is the Forex platform planned before the end of this year? A. That is planned for Q1 2019 Q. Bill, what was your previous experience in the management of startups like trade.io? You look like to me like a SP500 guy.....that’s the reason of my question. A. I'm not ashamed to admit were talking about my favorite subject now (me) - So Carlos, boiling it down to the most relevant, I left Merrill Lynch in 2001 after working there and at JP Morgan and Morgan Stanley and founded my own investment bank, just me and a computer. I have built that up over the last 17 years into a full service registered investment bank - so I have done lots of other startups in the past but I think that is most relevant Q. So u are better than Jim? A. Pacimaker - Jim and I have been friends for nearly 30 years... you trying to break that up? Kidding aside, Pacimaker, Jim and I have worked together for almost 20 years now Q. How are things going to be any different with you as CEO as opposed to Jim? A. We have different skill sets and have always used them in conjunction with each other on projects, just like now. Between the two of us, Jim is an idea and inception guy, he is brilliant with coming up with new ideas, launching them and getting them through their first stages. I am more of the second stage development guy. Once the company is up and running that's where I can add value. I'll admit, not nearly as exciting as what Jim does but we feel what trade.io needs at this stage. Q. Do you think at some time trade.io will focus also on Advertise itself on communities whose tokens are listed here? Ex: OMG, BAT etc.... I personally asked this in their TG group and they seemed neither aware that we are listing their tokens. A. So many of these tokens are already listed on other exchanges, we are working to differentiate ourselves by offering more product, the LP, FX trading etc., we need to get these up and running first Q. Okay the exchange is getting pretty damn good, now I feel like it’s time to be innovative like setting up a "crypto/forex university" where folks are drawn to and can learn and communicate and plan the future together, is there a timetable for the "learn platform"? And what are your main marketing strategies? A. Something like this? Preview Preview Q. Is this accessible somewhere already? A. No we are still developing it. It's in the pipeline and I didn't want to share until it was further along (within a few weeks of deployment) but I figured since you asked now is as just a good of time as any. Q. Where u can see trade.io in next 3 months? A. So three months, you have seen all of the timelines and things we are planning to roll out so I won’t repeat them - but more importantly within three months we will have taken stock of the company - like I have said, what is going well, what, if anything isn't and we will hopefully have fixed or being on the way to fixing everything that we can. Q. Why did you take this challenge? A. Got it, thanks Carlos, I love challenges, so that's easy, this is what I like to do, help build new companies, so this challenge is right up my alley. Why this one as opposed to others? I genuinely believe that DLT is going to upend the finance world that I have been a part of for decades, I want to be a part of that Q. Good morning Bill. I think one pressing question on everyone's mind, is the state of finances of the company. We see not much trading going on, so obviously no revenue there, and we don’t have any idea of the other areas making profit... The bear market can be long and drawn out, and those companies that can weather the storm, will prosper obviously. Question is straightforward.... do you feel comfortable that trade.io is in a position to continue operating for 6 more months under current conditions? A. Hi Dustin, good morning, and thanks for the question. Easy answer is yes, I'm comfortable that we are good to go for 6 months and beyond, the bear market is rough on all of us but our reserves are just fine. But this is always something we focus on, every day making sure that we are keeping operations running Q. One other thing I know everyone wants an explanation of: is how the liquidity providers work on the exchange. We see lots of small trades by bots that appear as wash trading, which is one thing trade.io has always been against.. Can you give a brief explanation of how that works? A. Sure, very briefly, as you know the market markers are there to create liquidity and orderly markets - just like the old time guys on the floor of the NYSE, right? So while it may look like a wash, it should only be liquidity and matching - keeping the market moving. That's the market theory, if you want more of the technical aspects of how they work I might have to leave that for our tech guys Q. Great... I know it is a major question for everyone, and to understand how that works would be a great help A. From Jim P market makers are there to create an orderly market, and provide a minimal level of liquidity. That’s what ours are doing. We are not manipulating the tape, fake buy walls or sell walls, spoofing, or inflating with millions of fake volume like many others. Q. Bill Do you think the future is the STO’s? A. So the STO question is a good one, and really boils down to all of the regulatory issues out there, as the markets have changed and regulations have been maturing I do think that STO's will be part of the path forward - basically between the ICO and the traditional IPO, but there is a lot of evaluation left to do and regulations are changing Thank you all, I do have to run, it has been a pleasure talking with you all this morning (for me), I look forward to working with you all going forward Q. Do we have any bombastic announcements to the short and mid terms??? A) We always may have some surprises, but for now we’re focused on executing the initiatives outlined in https://howsitcoming.trade.io in a timely manner. Q: According to Jim Preissler, trade.io had plans to dual-list traditional stocks on our exchange at some point in the future. There isnt much talk about it anymore. Is that something that we could expect next year? A) Yes, the goal has always been having a multi-asset platform; we are still hopeful that we will have this running in 2019, but do not have a specific timeline yet. Q: What coins will be available for depositing on FX platform of trade.io in first time? A) Ethereum, Bitcoin, TIOx with reduced commissions for TIOx users. Q: When will fiat be available for depositing on FX platform? A) Targeting early Q1 2019 Q: Why hasn't the company endorsed and advertised trade.io into communities of the Tokens that we are listing (BAT, OMG etc...)? Thx A) There is no specific reason, and I agree we need to do a better job of doing this going forward, as it gains more exposure to to trade.io and TIOx. Q: Hi Mr. William Heyn. May I know when does the "Stop Limit" function to be added into our platform? As a trader, I believe that becoming more important as trading in the downtrend market now. A) Targeting Q1 2019 Q: Will the launch of forex be a beta or Full version? A) We’re expecting full version, with standalone FX sites to be up in early Q1 2019. Q. Will trade.io become dex in the future? A) Possibly, but its not on our timeline at this point. Q. What do you think of the idea to take another fast token as the base like XRP or maybe even something like nano? That would still be pretty unique… A) Something we are considering. Q. When we can use TIOx to get discount when we trade( same like BNB)? A) TIOx is used for the LIquidity Pool, and can be used on the FX platform, once released, for discounted commissions. Q. Any news about that stores where TIOx should be implement this year? A) We will be starting with our NEST shared workspaces where TIOx can be used for payment and significant discounts. Q. What is the reason trade.io list so hard ERC- 20? A) We’re starting to ramp up roll outs of tokens, as you witnessed last week, we added 4 new ERC-20’s including a stable coin. New chains are on the horizon, as well, as can be seen in our timeline. Q. My question is related to trading competitions. Lastly we added MITH token but at the same time Binance added the same with trading competition. Then how new traders will be attracted towards trade.io? Not a single trading competition since exchange launch! A) I’ve already spoken to the team about the trading competition and agree its needed, and have given them directives to launch a trading competition in Q1 of 2019. Q. December-Q1 sounds like an amazing month with lots of good stuff, but do you have a rough time-frame for when the exchange will be able to accept fiat? That's a feature I'm really looking forward to. A) Q1 as well, as you noted there is a lot that I have the team working on, with tight timelines, as I want to see progress in a fairly short amount of time. Q. But what is not fair is they are using the API is open to these and not to the other traders? These are trade.io or third party partners? A) API will be open for everyone, very, very shortly.
I hope we're all having fun with garlicoin. I put together a small guide for anyone who is interested in getting into trading crypto in general.
(This guide will not help you set up a wallet or mining for garlicoin. You can find that information on the official Discord or the offical website listed in the sidebar on the right.) There's a buttload of coins out there. Some of them were made for fun, like garlicoin, or are unlikely to see the development they need to provide a use for the coin. A lot more are already in use in various ways or look to have a promising future. There's really no obvious rallying point for new people getting into crypto. If you want to discover this world, most sincerely, you may want to start by lurking on /CryptoCurrency. There are a lot of new people dipping their toes in crypto right now, and many have the same questions. Seriously, lurking on /CryptoCurrency will do you a lot of good. That said, if you want to trade crypto currencies, the steps toward making that possible are quite simple. There are, in short, four things you need to do (And the fourth is optional). 1. You need to get your hands on some crypto. Mining is really bloody slow for any coin that is already populaworth any meaningful amount of money, so you almost have to buy some crypto with 'real'/fiat money. There are a few exchanges that do accept normal money, but importantly the exchanges you want to spend most of your time on don't. In short, laws and regulations are a lot more stringent for exchanges that let you trade with normal money, so most exchanges don't. But as I said, a few do. The biggest exchange that takes normal money is Coinbase. I must disclose however that I have never used them. I used a competitor called Bitpanda. Using Bitpanda was a quick and painless experience for me, so I do recommend them, however the googles tell me that they charge 1.5% more in fees than Coinbase do, so I'll leave that choice up to you. What you want to do is pick an exchange, create an account, and then get verified. Regardless of the exchange you pick, you are pretty much going to have no choice but to show them your ID. The governments of the world get awfully interested in any company that accepts large amount of 'real' money in exchange for magical Internet buckaroos. Getting verified makes it a lot harder for you to hide your money for tax/divorce/inheritance purposes, so please don't go into this with the intention of trying to deceive your government. Once you are verified, you will be able to purchase your first coins (except garlicoin, the trebuchet of cryptos, which we'll all get to mine together). Now, you will find that there aren't a lot of options. Depending on the exchange, you are likely to be able to buy Litecoin, Ethereum, Bitcoin, and maybe one or two others. Bitcoin is the most famous, of course, but in preparation for step two, you may want to choose one of the other coins your exchange offers, since they have lower transaction/moving fees. Lastly for this step, remember, you absolutely do not need to buy whole coins. You can buy a tenth of a coin if you want. Everyone in crypto thinks the market is going to continue to grow, but it could crash at some point and not recover for years, so... Don't invest money you can't afford to lose or lock up for a long time. And especially do not take out any loans. Jesus Christ, do not take out any loans. 2. Move your money to the main exchanges. You have some crypto! Woo! Unfortunately, the exchanges that accept normal money kinda suck for trading. The fees they charge are way higher than the fees on the main exchanges, and they only deal in a few different coins. So basically, they are only good for moving normal money into crypto and vice versa. So what you want to do now is you want to move the coin you bought to one of the main exchanges. The most popular one bar none for crypto/crypto trading is Binance. Binance has had to close the registration of new accounts for a while recently, but as of a few days ago registrations are back up. There are a lot of competitors to Binance. The one that grew the most during Binance's registration closure was Kucoin. There are dozens of others, but they tend to have much lower trade volumes. It's entirely up to you where you go, but these two may be a good starting point. Binance is the largest and has the most trade, and many coins to choose between, while kucoin has some promising looking small coins that are not yet on Binance. Among the smaller other exchanges you will find dozens and hundreds of even smaller and more unknown coins, but many of these may be actual shit coins that will slowly fade away and die, and any money invested in them will just be lost. Of course, no doubt there are many nuggets of gold out there too. So whichever exchange(s) you go with, and whichever coins you decide to trade for, do some research first. This goes ten times over on the smaller exchanges, but is important even on Binance and Kucoin. Whichever exchange(s) you go with, go your funds/asset page, find the deposit wallet address for the coin you have and withdraw from your first exchange and send to that address. Do not send to the wrong address. Do not send Bitcoin (BTC) to an Ethereum (ETH) address. If you do, that money is lost forever. Yes, really. 3. Trade. There are two main ways of trading crypto, and most of us do a little bit of both and fall somewhere on the spectrum in between. These two are hodl and daytrading. Daytrading is the same as in stocks. All coins tend to go up and down a bit every day. Back and forth. So if you are lucky or patient enough, chances are you could for example buy a coin at $2 apiece, then sell them for $2.1, then buy again at $2... Of course, this is basically gambling, and the coin you bought at $2 could go down to $1.5. But if you put some effort in you can usually come out ahead. The other way is to 'hodl', which is just a meme name for picking a promising coin and hold on to it come hell or high water, because you think that in the long run it's going to increase greatly in value. Holding on to a favoured coin is often the smartest thing to do, because if the coin really has value, sooner or later more and more people will think so too and the price will rise. Ethereum for example is worth about $1000 per coin now, but it started out trading for under a dollar. It's important to remember that ultimately, the price of a coin is 'supposed' to reflect how useful it is. Every coin has some function it is supposed to fill, whether that be the increased privacy offered by privacy coins or enabling other coins to act through them, or competing with ads for website revenue generation or what have you. A lot of people are in crypto to make money speculating, but the foundation upon which all of that rests is the belief that most of these coins have actual, real world applications, either now or on the horizon. You forget this at your peril. /CryptoCurrency has plenty of discussions about the different coins out there, and just about every coin has its own dedicated subreddit where everyone on it is convinced that their coin has a bright future. A lot of them are right, too. But it's important to remember that the people on those subs are self selected for believing in the coin, and it's always a good idea to try to understand why others don't love the coin. Ultimately the best way to determine whether a coin has good potential is to 1. read the white paper (Most people don't, but they really should...), and 2. look up the team behind the coin (Most people don't, but they really should...). The shortcut is to just absorb the general mood on the various crypto subs and other crypto communities, but if you rely entirely on that you'll be surprised every time the community in general is surprised. Knowledge is a very important edge, whether you want to daytrade or hodl, and it's a tool a lot of people don't have. On the other hand, the mere fact that a lot of people believe in a coin is often enough to (temporarily) raise its price even if the coin is ultimately doomed to fail. So ride that wave if you wish, but at that point you're pretty much just gambling. Odds on the crypto market are better than at casinos, but even so. Be careful. And if you enjoy yourself, do take the time to get to know some of the coins. Really, it's fun and interesting and can save/make you a lot of money. Even if you're just in it for money, it's still the smart thing to do. 4. Decide where you want to keep your coins. You have two choices. You can keep your money on exchanges, or you can withdraw your coins and store them in a wallet. Personally I don't have all that much money, and I am content to have it spread out on a few different exchanges. However, a lot of of people are not comfortable leaving their coins on exchanges, because if it is hacked or goes under those coins are easily lost. This is unlikely to happen, especially on the bigger exchanges, but there is no doubt that getting your own wallet is safer. Different coins require different wallets, but a little bit of googling and double checking crypto forums can easily find a wallet that will work for your coin. The only downsides to keeping coins in your own wallet is that there is a (usually small) fee to withdraw coins from exchanges, and if you later want to trade your coin for something else it'll take a while to transfer it back to an exchange. ...And that's it, really. I will list a little bit of advice below, but this is all you 'need' to know to get started.
Be really, really, really sure that you use the right addresses when you send coins. Sending Bitcoin (BTC) to an Ethereum (ETH) address will result in you losing that money forever. There is no bank to call up and do a charge back. The exchanges can't help you. Nobody can undo your mistake if you send money into the void. So make damn sure you are sending your coins to the right address.
There are real scams out there. We are still in the early days of crypto, and it's pretty lawless much of the time. If someone is explaining to you how to send your coins around, and then give you an address to send to, that's not your address. That's theirs. And if you send them your money, it becomes theirs now, and good luck finding a random stranger on the Internet to press charges against. There are also coins that are never going to amount to anything, and if someone convinces you to buy one, that money is gone. There are scams out there. Before you do anything with your money, check around a bit and try find out if a lot of people think there's a scam involved. Sometimes it isn't entirely clear whether something is a scam or not, but in general you want to err on the side of caution. A good example of this is Bitconnect, a company that offers you easy money if you invest your crypto with them. It's not 100 percent clear that they are defrauding people, because all they are doing is offering really, really good interest rates and growing their user base, but their interest rates are so good that almost everyone in crypto is confident that sooner or later they will be unable to pay those interest rates, either because they run out of new customers with whose money to pay the interest for older customers, or because the crypto market will grow too slowly to sustain their growth no matter how large their customer base grows.
No, seriously, don't invest money you can't afford to lose. We are in the wild west here, and a market down turn or a scam can end up costing you a good chunk or even all of the money you put in. By all means spread your money out between multiple coins on multiple exchanges/wallets, but even then, it is very possible that you will end up losing money. Crypto in general has been going up, up and up, but even so there are plenty of coins that have gone up, down, up, and then down down down. Oyster Pearl is a coin I thought looked really promising, and I still think it is, but in the last few weeks it's taken me from 60 cents per coin to four dollars and back down under 2. That's a net increase, but I assure you, it hurt when it fell by half. It hurt a lot. And some people bought in at $4 and lost half their investment in a few days.
That's the end of the guide. If you found this guide helpful, I would really appreciate if you used my referral links when signing up for exchanges. There is no downside for you in doing so, but the exchanges (pretty much all of them) give a small bonus if people sign up with your referral codes. So while I'm including my referral codes, the sites are the ones I use myself, and the ones I genuinely think are the best around. As I said above, I have not used Coinbase. If you wish to use Bitpanda for your initial coin purchase my link is here. For the main exchanges, my Binance link is here, and my Kucoin link is here. Alternatively you can find these sites on google. My Binance referral code is 11598073, and my Kucoin code is 1wHub. You can of course sign up for all these sites without using my referral codes, but if you found this guide helpful I would be grateful if you used them. ...Anyway. That is largely it. That's my guide for getting started in crypto. I can't stress enough that you'll want to take it slow. If $100 is a lot of money for you, start with $10, trade a little, get the hang of it. There's no substitute for personal experience. If you want to invest more, it's even more important that you take it slowly. ...Sorry for the long post, but I wanted to be thorough. Best of luck. Welcome to crypto trading! I'm happy to answer questions. I'm by no means among the most knowledgeable about crypto on reddit, but I'm enthusiastic, and I should know enough to be able to answer most questions a complete beginner may have.
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