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You know how the very smart coiners love to come here and dare us to short bitcoin if we're so sure it's doomed? Well, this seasoned trader with 10 years experience in leveraged trading did just that. You won't believe what happened!

nah, just kidding, you'll believe it
https://www.reddit.com/Bitcoin/comments/fmfdjq/bitmex_unjust_liquidation/
submitted by leducdeguise to Buttcoin [link] [comments]

Here is how to play the altcoin game - for newbies & champs

I have been here for many previous altcoin seasons (2013,2017 etc) and wanted to share knowedle. It's a LOOONG article.
The evaluation of altcoins (i.e not Bitcoin) is one of the most difficult and profitable exercises. Here I will outline my methodology and thinking but we have to take some things as a given. The first is that the whole market is going up or down with forces that we can't predict or control. Bitcoin is correlated with economic environments, money supply increases, safe havens such as Gold, hype and country regulations. This is an impossible mix to analyze and almost everyone fails at it. That's why you see people valuing Bitcoin from $100 to $500k frequently. Although I am bullish on the prospects of Bitcoin and decentralization and smart contract platforms, this is not the game I will be describing. I am talking about a game where you try to maximize your BTC holdings by investing in altcoins. We win this game even if we are at a loss in fiat currency value. To put it another way:
If you are not bullish in general on cryptocurrencies you have no place in investing or trading cryptocurrencies since it's always a losing proposition to trade in bubbles, a scientifically proven fact. If on the other hand you are then your goal is to grow your portfolio more than you would if holding BTC/ETH for example.

Bitcoin is the big boy

How the market works is not easily identifiable if you haven't graduated from the 2017 crypto university. When there is a bull market everything seems amazingly profitable and things keep going up outgrowing Bitcoin by orders of magnitude and you are a genius. The problem with this is that it only works while Bitcoin is going up a little bit or trades sideways. When it decides to move big then altcoins lose value both on the way up and on the way down. The second part is obvious and proven since all altcoins from 2017 are at a fraction of their BTC value (usually in the range of 80% or more down). Also, when BTC is making a big move upwards everyone exits altcoins to ride the wave. It is possible that the altcoin market behaves as an inversed leveraged ETF with leakage where in a certain period while Bitcoin starts at 10k and ends at 10k for example, altcoins have lost a lot of value because of the above things happening.

We are doing it anyway champ!

OK so we understand the risks and just wanna gambol with our money right? I get it. Why do that? Because finding the ideal scenario and period can be extremely profitable. In 2017 several altcoins went up 40x more than BTC. But again, if you don't chose wisely many of them have gone back to zero (the author has first hand experience in this!), they have been delisted and nobody remembers them. The actual mentality to have is very important and resembles poker and other speculative games:
A certain altcoin can go up in value indefinitely but can only lose it's starting investment. Think about it. You either lose 1 metric or gain many many more. Now that sounds amazing but firstly as we said we have the goal to outperform our benchmark (BTC) and secondly that going up in value a lot means that the probability is quite low. There is this notion of Expected Value (EV) that poker players apply in these kind of situations and it goes like that. If you think that a certain coin has a probability let's say 10% to go up 10X and 90% probability it goes to zero it's an even bet. If you think that probability is 11% then it's a good bet, a profitable bet and you should take it. You get the point right? It's not that it can only go 10X or 0X, there is a whole range of probability outcomes that are too mathematical to explain here and it doesn't help so much because nobody can do such analysis with altcoins. See below on how we can approximate it.

How to evaluate altcoins

A range of different things to take into account outlined below will form our decision making. Not a single one of them should dictate 100% of our strategy.

Basics

It's all about market cap. Repeat after me. The price of a coin doesn't mean anything. Say it 10 times until you believe it. I can't remember how many times I had conversations with people that were comparing coins using their coin price instead of their market cap. To make this easy to get.
If I decide because the sky is blue to make my coin supply 100 Trillion FoolCoins with a price of $0.001 and there is another WiseCoin with a supply of 100 Million and price of $1 then FoolCoins are more expensive. - Alex Fin's Cap Law

Fundamental analysis

This is done usually in the stock world and it means that each company has some fundamental value that includes it's assets, customers, growth prospects, sector prospects and leadership competence but mostly centered in financial measures such as P/E ratios etc. Valuation is a proper economic discipline by itself taught in universities. OK, now throw everything out of the window!.
This kind of analysis is impossible in vague concepts and innovations that are currently cryptocurrencies. Ethereum was frequently priced at the fictional price of gas when all financial systems on earth run on the platform after decades (a bit of exaggeration here). No project is currently profitable enough to justify a valuation multiple that is usually equal to P/E in the thousands or more. As such we need to take other things into account. What I do is included in the list below:

Relative valuation

One of my favorite ways to value altcoins that is based on the same principle in the stock market is to look at peers and decide what is the maximum cap it can grow to. As an example you take a second layer Ethereum solution that has an ICO and you want to decide if you will enter or not. You can take a look at other coins that are in the same business and compare their market caps. Thinking that your coin will outperform by a lot the top coins currently is overly optimistic so I usually take a lower valuation as a target price. If the initial offering is directly implying a valuation that is more than that then there is no room to grow according to my analysis and I skip it. Many times this has proven me wrong because it's a game theory problem where if many people think irrationally in a market it becomes a self-fulfilling prophecy. But since there is opportunity cost involved, in the long run, getting in initial offerings that have a lot of room to grow will pay off as a strategy.

Sector prospects

In 2017 the sexiest sector was platforms and then coins including privacy ones. Platforms are obviously still a highly rated sector because everything is being built on them, but privacy is not as hot as it used to be. In 2018 DEXes were all they hype but still people are massively using centralized exchanges. In 2020 Defi is the hottest sector and it includes platforms, oracles and Defi projects. What I am saying is that a project gets extra points if it's a Defi one in 2020 and minus points if it's a payment system that will conquer the world as it was in 2017 because that's old news. This is closely related to the next section.

Hype

Needless to say that the crypto market is a worse FOMO type of inexperienced trigger happy yolo investors , much worse than the Robinhood crowd that drove a bankrupt company's stock 1200% after they declared bankruptcy. The result is that there are numerous projects that are basically either vaporware or just so overhyped that their valuation has no connection to reality. Should we avoid those kind of projects? No and I will explain why. There are many very good technically projects that had zero hype potential due to incompetent marketing departments that made them tank. An example (without shilling because I sold out a while back) is Quantum Resistant Ledger. This project has amazing quantum resistant blockchain, the only one running now, has a platform that people can build tokens and messaging systems and other magnificent stuff. Just check how they fared up to now and you will get the point. A project *needs* to have a hype factor because you cannot judge it as normal stocks that you can do value investing like Warren Buffet does where a company will inevitable post sales and profitability numbers and investors will get dividends. Actually the last sentence is the most important: No dividends. Even projects that give you tokens or coins as dividends are not real dividends because if the coin tanks the value of the dividend tanks. This is NOT the case with company stocks where you get dollars even if the company stock tanks. All that being said, I would advice against betting on projects that have a lot of hype but little substance (but that should be obvious!).

How to construct your portfolio

My strategy and philosophy in investing is that risk should be proportional to investment capital. That means that if you are investing 100K in the crypto market your portfolio should be very different than someone investing 1K because 10% annual gains are nothing in the latter while they are very significant in the former. Starting from this principle each individual needs to construct a portfolio according to how much risk he wants to take. I will emphasize two important concepts that play well with what I said. In the first instance of a big portfolio you should concentrate on this mantra: "Diversification is the only free meal in finance". In the case of a small portfolio then this mantra is more important: "Concentrate to create wealth, diversify to maintain wealth". Usually in a big portfolio you would want to hold some big coins such as BTC and ETH to weather the ups and downs explained in previous paragraphs while generating profits and keep progressively smaller parts of your portfolio for riskier investments. Maybe 50% of this portfolio could be big caps and 10% very risky initial offerings. Adapting risk progressively to smaller portfolios makes sense but I think it would be irrational to keep more than 30% of a portfolio no matter what tied to one coin due to the very high risk of bankruptcy.

Conclusion

The altseason is supposedly coming every 3 months. Truth is that nobody can predict it but altcoins can be profitable no matter what. Forget about maximalists who are stuck in their dogmas. Altcoins deliver different value propositions and it makes sense because we are very far from a situation where some project offers everything like Amazon and we wouldn't even want that in the first place since we are talking about decentralization and not a winner takes all and becomes a monster kind of scenario! Some last minute advice:
P.S If you find value in reading this and want more weekly consider subscribing to my newsletter here
submitted by aelaos1 to CryptoCurrency [link] [comments]

Noob trader question

Hello guys,
Really happy to be here in the crypto world, im in finance for 10 years, but for some reasons I was always a bit anxious or procrastinating to move some of my cash to crypto until 3 months ago.
Since then it was quite a nice ride because mostly I bought bitcoin and eth at good prices and some other 8 smaller coins, and currently im up 10% on my portfolio, which I know for the crypto veterans is not that much, but im happy with this return.
My question now is for Binance trading, I have on my radar for 3 months a smaller coin, which is currently priced at $0.02000 roughly, I liked the project, their partners, and the potential growth.
My question is about margin / leverage trading, I want to invest $9.000 usd with x3 leverage and I want to know if I buy at $0.02000, at what price my position will be liquidated ?
Also if this coins drops too much, will I owe any money to Binance, because I traded with margin ?
Many thanks, and Im sorry if my question is too noobish for the seasoned crypto traders, but is better to be a fool for 1 day and ask questions, than to regret later :).
Thank you in advance,
Lord C.
submitted by LordCtinx to binance [link] [comments]

Chainlink Price explodes - Reasons for the increase in LINK Price

Chainlink Price explodes - Reasons for the increase in LINK Price
Chainlink (LINK) is currently the most popular Defi project.
The LINK rate has almost doubled in the past 3 weeks and hit a new all-time high of $ 8.48. As a result, the market capitalization rose briefly to over $ 2.5 billion and placed LINK in 8th place at CoinMarketCap.
Of course, many are wondering how such a sharp rise in share prices could occur.
https://preview.redd.it/8c4avufatsa51.png?width=337&format=png&auto=webp&s=5fa98b24c647e46df8fd75333bb62071e7499fbb
Therefore, today we take a closer look at the possible reasons for the strong LINK Pump.
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Basically, there are currently three main factors that have led to the LINK price increase.
This includes the human psychology of pricing, high-profile partnerships, and a generally strong dynamic in the altcoin market.
In addition, the increasing trading volume may have fueled the LINK price increase.

Chainlink pricing

Then on July 6th, the time had come.
The LINK price exceeded its previous record high of $ 5.31 and entered the pricing phase.
This phase leads to FOMO (Fear Of Missing Out) in most markets.
The way up is clear and has no natural resistance that could be identified by technical chart analysis.
Exactly this fact leads to the fact that many speculators get in and fear to miss something, are almost ready to pay any price.
Therefore the current Chainlink price increase could be irrational and encounter a hard correction.
Within the last seven days, after the old all-time high was broken, the price exploded by over 40%, rising from $ 5.31 to $ 8.48.
The LINK price is currently around USD 7.76.
The trading volume of LINK also rose to a level that has not been observed since April 2020.
At that point, the bitcoins price recovered from its strong sell-off to around $ 3,750.
During this period, the demand for cryptocurrencies from retail investors rose by leaps and bounds. Some analysts believe that the LINK price could rise to USD 10 in the next few weeks.
However, this statement should be treated with caution.

Partnerships stimulate business

Over the course of this year, Chainlink has entered into many high-profile partnerships with companies in the crypto sector. Chainlink partnered with Nexo on July 8th. Nexo is a crypto credit company with around 800,000 users. Chainlink is to make its Oracle solutions available to the company. Chainlink co-founder Sergey Nazarov said:
We are excited to bring Chainlink's secure and reliable Oracle solutions to Nexo's popular credit platform so users can independently check the interest rate and collateral rates they should receive on the blockchain.
Over the past two months, Chainlink has partnered with blockchain projects and companies like Matic Network and Hedera Hashgraph. Chainlink was also mentioned in a Google blog post entitled Building hybrid blockchain/cloud applications with Ethereum and Google Cloud.
LINK does not miss a partnership and therefore remains on everyone's lips.
Feels like every major crypto company is already included as a partner. This attracts a lot of attention and thus increases interest in Chainlink.

Altcoin and Defi Momentum bring LINK up

The Altcoin market has shown its strong side in recent weeks. While the Bitcoin price was rather sideways, some altcoins have exploded. Chainlink is just the tip of the iceberg. Many other projects, especially from the Defi Space, were able to grow properly.
DeFi is on everyone's lips and investors are looking for the next “insider tip” to quickly make a few 100%.
The crypto market is becoming increasingly irrational and money is being thrown from one project to the next. It is strongly reminiscent of 2017 and 2018 at the ICO hype.
The strong hype and greed can be felt and makes a timely correction more and more likely.
Many are already talking about an Altcoin Season and are currently seeing LINK and many other Altcoin projects outperforming BTC. How long the situation lasts and whether further profits can be achieved with LINK is in the stars.
But you should keep in mind that Chainlink has increased by over 450% in the last 3-4 months. This could lead to strong correction.
submitted by jakkkmotivator to thecryptobasic [link] [comments]

Ethereum, LINK, and Ren: These 3 altcoins are supposed to beat BTC

Ethereum, LINK, and Ren: These 3 altcoins are supposed to beat BTC
In the past two months, we have seen a significant decline in bitcoin dominance, While the value on May 15 was still 69.60%, it fell to around 62.60% by yesterday's Sunday.
So that means that many altcoins perform better than BTC.
However, in view of the more than 5000 altcoins, the question of which coins should now outperform Bitcoin naturally arises.
The spectrum ranges from the well-known alts such as Ethereum to the new top performers like Chainlink.
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In this article, let's take a look at an analysis by Santiment and see why they think Ethereum (ETH), Chainlink (LINK), and Ren (REN) could beat Bitcoin.

Santiment underlines the feeling of the Altcoin season

First of all, the Santiment report presented is about a so-called short-term outlook.
This means that all statements refer to a short-term period. And for this short-term period, the analysis company now sees the altcoins ETH, Link, and REN at the forefront.
The report begins with a brief summary of the situation.
While the Bitcoin price is largely still in the price range of $ 9,000 - $ 9,500, many altcoins, in particular, have seen strong increases.
Santiment sees the greatest potential here at Chainlink (LINK).

Chainlink as a winner in front of Ethereum and REN

In the report presented, Santiment uses 3 indicators to assess the short-term situation of the altcoins. Chainlink sees this in the first place.
In addition to the positive indicators, the company also attests to the token based on the Ethereum Blockchain a bullish signal through the use in the context of China's National Blockchain Service Network (BSN).
After this news was published on July 8, the LINK course saw strong growth.
Let's take a quick look at the chart:

https://preview.redd.it/azgvkypdosa51.png?width=1170&format=png&auto=webp&s=8045a983e858fa8d0551253064f7df6946492fc6
We can see from the 30-day chart that the price of Chainlink rose from around USD 4 to USD 6 at the beginning.
This makes LINK one of the best performers of the past 30 days.

Ethereum and REN are further candidates

In addition, the company says that they see Ethereum and REN as additional candidates for outperformance. As already mentioned, 3 indicators were considered for this.
Now let's take a look at the ones behind it. Then, of course, we also look at the values ​​for the individual altcoins.
NVT, DAA and Sentiment Volume Consumed as indicators
The first indicator examined is the Network Value to Transactions Ratio (NVT).
This is a metric that relates the volume of transactions divided by the number of coins/tokens in circulation to market capitalization. This is done over a period of time. In our case, that's the 3-day average.
The second indicator is the daily active addresses in relation to price divergence. Simply put, the price dynamic is set in relation to the number of active addresses.
You can find more information here. The third parameter is called Sentiment Volume Consumed. This is about the measured “sentiment” on Twitter.
Now let's look at the ratings for Bitcoin, Ethereum, LINK, and REN.
The company assigned a numerical value of 0-10 for each indicator, which varies between maximum bearish (0) and maximum bullish (10).

LINK before Ethereum, REN, and Bitcoin: the results

Let's start with the top dog Bitcoin. BTC received only a value of 2 for the indicator NVT. The DAA value was 5 and the value for Sentiment Volume Consumed was 6.5. This gives a total value of 4.5, which Santiment sees as a neutral rating.
Ethereum itself receives 5 points for NVT, 8 points for DAA, and 7.5 for SVC. This results in a total value of 6.8. Santiment rates this as bullish. Ethereum got the second-best total after Chainlink.
LINK itself received 9 points in the NVT area. 5.5 points were awarded for DAA and 7 points for SVC. This gives a value of 7.2.
REN received 8 points in NVT, 7.5 in DAA, and only 3.5 in SVC. This gives a total value of 6.3, which is still bullish overall.
Conclusion: Short-term outperformance possible
Santiment's report shows that the 3 cryptocurrencies Ethereum, Chainlink, and Ren offer the short-term potential to outperform the top cryptocurrency Bitcoin. However, it is important to understand that these figures only give a short-term outlook and therefore do not constitute a long-term trading recommendation.
submitted by jakkkmotivator to thecryptobasic [link] [comments]

Altcoin VS Bitcoin: Battle For Dominance After The Halving

Before we begin, let us hop onto the same page and understand what bitcoin dominance is.

WHAT IS BITCOIN DOMINANCE?

Bitcoin Dominance is simply the market share of bitcoin in the cryptocurrency market determined by market capitalization(Circulating Supply x Price). Bitcoin is by far the largest cryptocurrency by market capitalization and a top contributor in trading volume.
Bitcoin Dominance ratio can be derived from dividing market cap of bitcoin over the sum of the cryptocurrency market cap as a whole. As the dominance represents a ratio of market share, bitcoin dominance is often affected by the performance of altcoins. Therefore, as shown in figure 1 below, the Bitcoin Dominance dropped dramatically at the time ICOs gained popularity where Ethereum almost overtook Bitcoin in market cap.

Figure 1 - Source: coinmarketcap.com

BTC HALVING - AFFECT ON DOMINANCE

As market capitalization is calculated by the circulating supply and price, it is logical to assume that the dominance will gradually fall over time as the rate bitcoin issuance has dropped by half.
However, as shown in figure 2, the Bitcoin Dominance is still maintaining its stance at approximately 67~68%. It is in great interest by many cryptocurrency enthusiasts to see where the dominance will be heading. As the supply rate has dropped, the only way the dominance can be maintained is through the increase in bitcoin price.

Figure 2 - Source: coinmarketcap.com
As of May 11, the date of the 3rd halving, the price of bitcoin has continuously demonstrated an upward trend which was a key factor in maintaining the dominance level.

Figure 3 - Source: coinmarketcap.com
Leading up to the halving, the Bitcoin tweet dominance (shown in Figure 4) also hit its highs since the 2017 bull-run.
Figure 4 - Source: The Tie

ALTCOIN PERFORMANCE

As mentioned above, another factor to consider is the Altcoin performance or the so called "alt-season". Although Bitcoin strongly stands as the main crypto asset across the world, there are many altcoin fans that are waiting for the "alt-season" to come. Now with a major event for Bitcoin out of the way, what influence will this have in the altcoin market?
Furthermore, many institutions and governments are also leveraging altcoin protocols to issue their own cryptocurrencies to add efficiency and innovation to existing systems. These initiatives will bring greater reach to the general public, meaning more demand. Shown in figure 5, over the past month, the so called whales have been discovered stacking up with several key altcoins in their wallets.

Figure 5 - Source: Santiment
Below are some upcoming events for Altcoins and also institutional use cases
Altcoin Events
Institutional Use Cases
Now that the halving is over yet ongoing, uncertainty still remains on how the cryptocurrency space (including dominance) will be reshaped. Will we see another alt-season like the one back in 2017? or is everyone keeping their bitcoins in their pockets?
submitted by MyCoinStory to cryptomining [link] [comments]

Risk Management in Crypto Trading

Risk Management in Crypto Trading
Author: Gamals Ahmed, CoinEx Business Ambassador
Financial risk management is one of the most controversial topics in trading. Traders want to reduce the risk and potential loss, but on the other hand, these traders also want at the same time to get the best profits. It is known that in order to obtain greater returns, you also need to take greater risks.
Some may consider trading an entertaining and difficult pastime, but everyone should be aware that the most important aspect of trading is risk management.

What are the different risk management techniques used in trading?

Long-term trading
Stock market traders use historical data to make long-term strategic business decisions. The long-term cryptocurrency strategy depends on current activity, and you will be more inclined towards hopeful information rather than reliable information and more suitable for cryptocurrencies.
Short term trading
Short-term traders benefit from the volatile cryptocurrency market by using swing trading when the price differs in short bursts of movement.
Technical Analysis
Technical analysis of cryptocurrencies requires research into project that affect the market based on price and volume data available through analytical technology.
Fundamental analysis
Traders often look to blogs and information sites and study the whitepaper for cryptocurrencies or cryptocurrency community forums.
https://preview.redd.it/bcdhftsba0351.jpg?width=864&format=pjpg&auto=webp&s=4763c03a2d5ecaa082cfa78ed3693c0d7e1186e0

Why should you stick to risk management?

You can get a series of successful deals based on good luck. You can also get a series of bad deals that depend on luck and feel.
It even happens to successful, experienced professional traders that they lose 10 trades in a row. Without risk management, this could result in your capital loss and final exit. The most important goal in trading is to stay in the market and preserve your capital. As long as you are in the market, you can recoup your losses.
If you lose 10% of your capital, this means that you must make a profit of 11.1%. If your budget is $ 1,000 and you lose $ 100 ( ~ to 10%), you’ll have $ 900. $ 100 is 11.1% of that.
This means that losses hurt more than profits of the same size. This becomes worse with more losses. If you lose 50% of your capital, you must double your money to offset the loss.
The new trader’s rule for managing at most risk is 1% of the capital for each trade. If you lose 10 deals in a row (which is unlikely) and lose 1% each time, how much do you have left? Still 90%.
If you risk 2%, what remains for you after losing 10 recurring deals is only 81% of the capital. You have to make 11% or 23% profit to make up for it. Even if you lose 100 deals in a row with a 1% risk management plan in hand, you still have 37%.
A seasoned trader may use 2% occasionally. A trader who risks 10% disappears quickly.
You might be wondering, if I decide to follow risk management with just 1% in the deal, does this mean that I can only invest 1% of the capital for each transaction? No. This is the ratio for determining the maximum acceptance of a loss from a single trade.
Initial decisions
I assume you know your total capital, no matter if it is $ 100 or $ 1 billion. The main point is to have a specific budget available. Do not use borrowed money, which you have to repay in a deadline. Do not use money you need in the future. If you are emotionally attached to this money, these emotions will make you feel stressed. You want to be a successful trader and not an emotional gambler.
The next step is to find a deal. It does not matter if you do this daily and trade specific currencies or not. You have tools like fundamental and technical analysis to research deals. Immediately before entering into a trade, there is a basic calculation that must be performed:
Determine the entry price, stop loss and the amount of risk.
Well, the risk is easy. We already know that we will choose 1%.
The entry price is also easy. It could be the current market price or the limit you set for your order.
Now, stop loss: it is necessary to know and set the stop loss before entering a trade. Another rule is that you are not allowed to adjust your stop loss afterward to accept more losses.
How to determine the stop loss? Technical analysis is the only method available regardless of the random selection of something. Perhaps you will use something like “beyond the next support level (or resistance)” or “the other side of the trend line we just broke”.
Now we have the four components of risk management: budget size, entry price, stop-loss and risk-taking. The time to use the calculator.
The size of the deal
Now to find out how much money you are allowed to invest in this deal.
Transaction Size = (Risk Size * Budget) / (Entry Price — Stop Loss)
For example: If you have a budget $ 1,000 and want to buy bitcoin for $ 2,300 with a stop loss $ 2,200 and a risk 1%, then this means: The deal size is (1% * $ 1,000) / ($ 2,300 — $ 2,200) ) = $ 10 / $ 100 = 0.1.
So in this example you are allowed to buy 0.1 Bitcoin units for this trade.
You must make this account before every trade! Even if you do, you will encounter errors sometimes, but risk management will help you to preserve your capital. Courage will shout at you to take greater risks, because you are very sure of your prediction. But always remember, to succeed you must stick to your stop loss and strategy.
Setting goals
Before entering into a position, you must also have a target price in mind for sale. The risk must be doubled. If you risk 1% of your capital, the potential profit must be 2–3% of your capital. If the goal for profit is equal to stopping the loss, you must stay away from trading and ignore this deal.
This does not mean that you will always reach or lose your goal. You are allowed to manually track stop loss or exit early. However, the goal should be possible given the volatility of the market you are in.
Level of risk
Well, I got away from the plan and ignored your strategy. The deal entered without due diligence. whatever. How much risk did you just take?
You know your budget, entry price and deal size. You must quickly define the next stop loss. How much risk?
Risk = (Trade Size * (Entry Point — Stop Loss)) / Budget
For example, I bought 0.3 bitcoin at a price of $ 2,500 with a budget of $ 1,000. Stop loss is $ 2345. This means that the risk is (0.3 * 155 dollars) / 1000 dollars = 4.64%.
Risk reduction
Now for some good things that can’t be used practically, however, the concepts are sound. Why the reader may ask 1% risk? Is it just a rule? Is there an ideal ratio? In theory, yes there is. We can use the Kelly standard. The formula is simple:
Risk = p-((1-p)/r
Getting those variables P and R is difficult. You have to know your profit rate, which is the number of times your goals are reached. You also need a profit-to-loss ratio, which is the average profit per trade.
For example, if you earn 47% of the time and 117% of your average capital, then the ideal risk is 1.7%.
In practice you don’t really know this specifically or variables p and r, so I recommend sticking to 1% as the basis for risk management.

Risk Management Tips for Cryptocurrency Investment

1. You should never risk more than you can afford to lose.
However, this error is very common, especially among Crypto traders who are just starting out. The Crypto market is very difficult to predict, so traders who want to invest more than they can actually put themselves at risk of market and losing their money.
2. Don’t trade by all of your capital at same time.
Anything can affect the Crypto market. The smallest news can affect the price of a particular currency in a negative or positive way. Instead of trade with everything you own”, it is better to follow a more moderate path and trade reasonable amounts of your capital.
3. Improve your risk management performance
Fortunately, there are several ways to help avoiding these mistakes and avoid loss. You must have a well-tested trading plan that includes all the details of managing financial risk in Crypto. The trading plan should be practical — and you should be able to follow its steps easily. Experts recommend that it is better to focus on high-probability deals.
Crypto trading involves a high degree of risk, so it is essential that you be disciplined in all of your financial transactions. You should also be able to pay extra attention to your past mistakes, and practice trading activities in a demo account first. The time and effort you spend in creating a trading plan is often considered a major investment that helps you achieve a profit-able future.
4. Control your emotions and risk management
As a Crypto trader, you need to be able to control your feelings and emotions towards your open, future, and closed positions as well! If you cannot control your feelings, you will not be able to reach a position where you can make the profits you want to trade. Market sentiment can often trap traders in volatile positions in the market. This is one of the most common market risk for Crypto trading. Those with stubborn nature tend not to do well in the Crypto market.
These types of traders tend to wait too long to exit the trade. When a trader realizes his mistake, he must leave the market as soon as possible, to take the least possible loss. Waiting too long can cause you to lose a large portion of your capital. Once you exit the deal, you need to be patient and re-enter the market when it presents a real new opportunity.
5. Basic concepts in risk management
To reduce the financial market risk for trading Cryptocurrency, you will need to remember some of the basic points mentioned below:
The evaluation of money changes, and often affects companies and individuals participating in global stock exchanges.
Liabilities, assets and fund flows are affected by changes in exchange rates.
By trading small amounts of your capital and monitoring market movements, you will be able to see these concepts take hold throughout your daily trading sessions.
6. Important tips for developing a risk management plan model
Below is a series of simple tips that you can consider and include in the financial risk management plan model when trading Crypto, which may help you reduce trading losses associated with market risks:
1. Stop losses
Trading without a stop loss is like driving a car without braking at full speed — it won’t end well. Likewise, once your stop loss is set, you should never lower it. There is no point in having a safety net in place if you are not going to use it properly.
The goal of stopping a loss is to limit the size of the potential loss in order to be able to in-crease your total profits, and what needs to be done on the other side is to set profit-taking orders as well!
2. Do not link all your investments in one place
This applies to all types of investment, and Crypto is no exception. Crypto should be part of your portfolio, but not complete it. Another way that you can expand it is to invest or trade more than one crypto coin.
3. The general trend is your companion
You may have made the decision to be a long-term trader, with plans to keep these deals for an extended period of time. However, regardless of the deal you ultimately decided to take, you should not resist current market trends or movements. There will always be strong players in the market, and the best way to keep up with them is to absorb such changes and follow the general trend, and change your strategies to reflect this.
4. Keep teaching yourself
The best way to learn the financial risk management system in Crypto and become an efficient and successful Crypto trader is to know how the market works. However, as we mentioned earlier, the market is constantly changing, so if you want to stay ahead of your game, you have to be always ready to learn new things and update yourself about market changes.
5. Use the plug-in
To advance in Crypto, you may want to use some trading software that can help you settle your choices. However, these systems are not ideal, so it is best to use them as a consulting tool, and something to refer to rather than use as a basis for making business decisions.
6. Limiting the use of leverage
It can be very tempting to use leverage to make big profits. However, this can make it easy for you to lose a huge portion of your capital, too. So do not support the use of giant leverage. All it takes is one quick change in market direction, and you can easily delete your entire trading account.
Crypto risk management is not difficult to understand and implement. But in order to invest in any financial instruments, whether it be bonds, exchange-traded funds, stocks, contracts for the difference in prices or cryptocurrencies, you need to acquire advanced knowledge in the field of risk management. The hard part is having enough self-discipline to adhere to the rules of this risk management plan as the market moves against your positions.
The content is for opinion sharing only and should not be relied upon to make any investment decisions.
submitted by CoinEx_Institution to Coinex [link] [comments]

ALTCOIN(ETH) VS BITCOIN: BATTLE FOR DOMINANCE AFTER THE HALVING

ALTCOIN(ETH) VS BITCOIN: BATTLE FOR DOMINANCE AFTER THE HALVING
Before we begin, let us hop onto the same page and understand what bitcoin dominance is.
WHAT IS BITCOIN DOMINANCE?
Bitcoin Dominance is simply the market share of bitcoin in the cryptocurrency market determined by market capitalization(Circulating Supply x Price). Bitcoin is by far the largest cryptocurrency by market capitalization and a top contributor in trading volume.
Bitcoin Dominance ratio can be derived from dividing market cap of bitcoin over the sum of the cryptocurrency market cap as a whole. As the dominance represents a ratio of market share, bitcoin dominance is often affected by the performance of altcoins. Therefore, as shown in figure 1 below, the Bitcoin Dominance dropped dramatically at the time ICOs gained popularity where Ethereum almost overtook Bitcoin in market cap.

Figure 1 - Source: coinmarketcap.com
BTC HALVING - AFFECT ON DOMINANCE
As market capitalization is calculated by the circulating supply and price, it is logical to assume that the dominance will gradually fall over time as the rate bitcoin issuance has dropped by half.
However, as shown in figure 2, the Bitcoin Dominance is still maintaining its stance at approximately 67~68%. It is in great interest by many cryptocurrency enthusiasts to see where the dominance will be heading. As the supply rate has dropped, the only way the dominance can be maintained is through the increase in bitcoin price.
Figure 2 - Source: coinmarketcap.com
As of May 11, the date of the 3rd halving, the price of bitcoin has continuously demonstrated an upward trend which was a key factor in maintaining the dominance level.
Figure 3 - Source: coinmarketcap.com
Leading up to the halving, the Bitcoin tweet dominance (shown in Figure 4) also hit its highs since the 2017 bull-run.
Figure 4 - Source: The Tie
ALTCOIN PERFORMANCE
As mentioned above, another factor to consider is the Altcoin performance or the so called "alt-season". Although Bitcoin strongly stands as the main crypto asset across the world, there are many altcoin fans that are waiting for the "alt-season" to come. Now with a major event for Bitcoin out of the way, what influence will this have in the altcoin market?
Furthermore, many institutions and governments are also leveraging altcoin protocols to issue their own cryptocurrencies to add efficiency and innovation to existing systems. These initiatives will bring greater reach to the general public, meaning more demand. Shown in figure 5, over the past month, the so called whales have been discovered stacking up with several key altcoins in their wallets.
Figure 5 - Source: Santiment
Below are some upcoming events for Altcoins and also institutional use cases
Altcoin Events
  • Ethereum 2.0
  • Theta Mainnet
  • Zilliqa - Zilon v2.0 Release
  • Kyber Network - KyberDAO Launch
Institutional Use Cases
  • Reddit - Ethereum Based Cryptocurrency Engagement Reward
  • Visa - Files many patents on Cryptocurrency
  • Libra - Singapore State Investor Temasek Joins Libra
Now that the halving is over yet ongoing, uncertainty still remains on how the cryptocurrency space (including dominance) will be reshaped. Will we see another alt-season like the one back in 2017? or is everyone keeping their bitcoins in their pockets?
submitted by MyCoinStory to ethtrader [link] [comments]

Bithumb Global Launches Smart Tokens

Bithumb Global Launches Smart Tokens

https://preview.redd.it/2t3q7lwh6n251.png?width=1024&format=png&auto=webp&s=f4c921706f12e2209883a7b4dc603216da2d1bfc
At Bithumb Global, we have always endeavored to create a digital assets ecosystem that is not only secure but also friendlier. In line with this philosophy, we have now launched Smart Tokens on our trading platform. The Smart Token that was initially launched was the BTCS (1x short Bitcoin), which users can benefit from during bear market conditions. The opening price of each smart token is $100usdt.
Apart from BTCS, Bithumb Global exchange’s platform has listed other new Smart Tokens like LTCS, XRPS, and ETHS, corresponding to Litecoin, Ripple and Ethereum tokens, respectively. All these tokens work on similar principles. Users can have access to this service either through the Bithumb Global app or our website.
https://preview.redd.it/f253adaj6n251.png?width=1400&format=png&auto=webp&s=f2d8b401edc835f93b118308f4f0c9d5cd7abe78
Moreover, these are far less risky than derivatives and other leveraged tokens. These do not have any risk of blowing up; they do not come with an expiry date since they are a spot product. The holders of these Smart Tokens will be able to liquidate these anytime on the secondary market.
The Nature of the Bithumb Global Smart Tokens
The Smart Tokens are primarily tradable assets. We have designed them to give the users leveraged access to certain underlying assets, like BTC, ETH, or XRP. Nevertheless, the BTCS tokens are designed to be much easier to operate than the conventional processes of handling margin trading or short selling positions. We have made the entire process easy and seamless and have spared the user all the details and the tedious process, along with the high fees and substantial risks involved in the sophisticated trading processes.
The transaction fee for Smart Tokens is 0.1% and it has a daily management fee of 0.05%, which is very low. And the holding cost, therefore, becomes minimal.
https://preview.redd.it/4e1qn5rl6n251.png?width=840&format=png&auto=webp&s=e1075534bedaa1e19ed19ef9d978b08a2fbb15d6
The non-crypto counterpart of the Bithumb Global’s Smart Tokens is Exchange Traded Funds (ETFs). These allow investment in a certain set of stocks. This makes them more easily tradable, although they might contain a diverse set of financial instruments and commodities. They are also similar to mutual funds in terms of their structure. But unlike Mutual Funds, ETFs, as the name suggests, are traded through the exchanges.
Many leveraged tokens are on the blockchain and therefore can be traded on different markets but the Bithumb Global Smart Tokens being off-chain are to be traded within our exchange platform. While this reduces the liquidity of the tokens, it increases their stability and makes them immune to distress selling and other shocks.
A rebalancing mechanism is required for the smooth functioning of the Smart Tokens. These mechanisms are run by algorithms that help the system maintain the target leverage, which is 1x for all the Smart Tokens. The algorithm acquires or gets rid of additional positions in order to meet the target leverage at any point in time when the leveraged exposure is higher or lower than the target leverage. Being implemented through an algorithm, this is a very transparent process, which does not need to be driven by any human intervention. The change in the basket is also made public after the rebalancing.
https://preview.redd.it/qcxwr80o6n251.png?width=1400&format=png&auto=webp&s=55bd02700997aae70e14e6d7c0b366be4098bb1d
But there arises one important question in this respect; about how safe will a person’s holdings remain post a balancing event? While it is very safe, in certain dramatic market events there can be some risk of the users’ holdings getting highly devalued because of this market crisis, which is true for any tradable asset in the financial markets. However, in the case of a leveraged token, not only are the profits leveraged but so are the risks.
Cost-Benefit Analysis of Smart Tokens: Is This the Financial Product You Need?
If you are looking to invest in crypto, but do not know the nitty-gritties of the market, a Smart Token might be the right product for you. If you are not a full-time investor and are looking for only a short time investment, Smart Tokens can leverage the value and opportunities of crypto assets for investment. But for a long-term investment, due to all the charges, and the rebalancing mechanism it might not be worth the risk. Therefore, prior knowledge about the risks involved in the products needs to be considered by all prospective investors before investing in the Smart Tokens.
Nevertheless, for the amateur and the newbie, the opportunities outweigh the risks by far. Our expert team is dedicated to selecting the best basket of investment and designing the algorithm in a way, that the investors have the best outcomes possible in all market situations. In this respect, this is a perfect product for anyone trying to acquire a short or medium term, short selling position in crypto assets. And even for long term investment, a seasoned investor by taking note of the minute details of the product can land a long-term gain.
submitted by BithumbGlobal to BithumbGlobal [link] [comments]

ALTCOIN VS BITCOIN: BATTLE FOR DOMINANCE AFTER THE HALVING

ALTCOIN VS BITCOIN: BATTLE FOR DOMINANCE AFTER THE HALVING
Before we begin, let us hop onto the same page and understand what bitcoin dominance is.

WHAT IS BITCOIN DOMINANCE?

Bitcoin Dominance is simply the market share of bitcoin in the cryptocurrency market determined by market capitalization(Circulating Supply x Price). Bitcoin is by far the largest cryptocurrency by market capitalization and a top contributor in trading volume.
Bitcoin Dominance ratio can be derived from dividing market cap of bitcoin over the sum of the cryptocurrency market cap as a whole. As the dominance represents a ratio of market share, bitcoin dominance is often affected by the performance of altcoins. Therefore, as shown in figure 1 below, the Bitcoin Dominance dropped dramatically at the time ICOs gained popularity where Ethereum almost overtook Bitcoin in market cap.

Figure 1 - Source: coinmarketcap.com

BTC HALVING - AFFECT ON DOMINANCE

As market capitalization is calculated by the circulating supply and price, it is logical to assume that the dominance will gradually fall over time as the rate bitcoin issuance has dropped by half.
However, as shown in figure 2, the Bitcoin Dominance is still maintaining its stance at approximately 67~68%. It is in great interest by many cryptocurrency enthusiasts to see where the dominance will be heading. As the supply rate has dropped, the only way the dominance can be maintained is through the increase in bitcoin price.

Figure 2 - Source: coinmarketcap.com
As of May 11, the date of the 3rd halving, the price of bitcoin has continuously demonstrated an upward trend which was a key factor in maintaining the dominance level.

Figure 3 - Source: coinmarketcap.com
Leading up to the halving, the Bitcoin tweet dominance (shown in Figure 4) also hit its highs since the 2017 bull-run.
Figure 4 - Source: The Tie

ALTCOIN PERFORMANCE

As mentioned above, another factor to consider is the Altcoin performance or the so called "alt-season". Although Bitcoin strongly stands as the main crypto asset across the world, there are many altcoin fans that are waiting for the "alt-season" to come. Now with a major event for Bitcoin out of the way, what influence will this have in the altcoin market?
Furthermore, many institutions and governments are also leveraging altcoin protocols to issue their own cryptocurrencies to add efficiency and innovation to existing systems. These initiatives will bring greater reach to the general public, meaning more demand. Shown in figure 5, over the past month, the so called whales have been discovered stacking up with several key altcoins in their wallets.

Figure 5 - Source: Santiment
Below are some upcoming events for Altcoins and also institutional use cases
Altcoin Events
  • Ethereum 2.0
  • Theta Mainnet
  • Zilliqa - Zilon v2.0 Release
  • Kyber Network - KyberDAO Launch
Institutional Use Cases
  • Reddit - Ethereum Based Cryptocurrency Engagement Reward
  • Visa - Files many patents on Cryptocurrency
  • Libra - Singapore State Investor Temasek Joins Libra
Now that the halving is over yet ongoing, uncertainty still remains on how the cryptocurrency space (including dominance) will be reshaped. Will we see another alt-season like the one back in 2017? or is everyone keeping their bitcoins in their pockets?
Either way, these uncertainties can be traded on derivatives exchanges like MyCoinStory.com where traders can go long or short depending on which way they think the prices will move.
Trade on MCS!
Traders ALWAYS come first on MCS
Thank you.

MCS Website: https://mycoinstory.com/ MCS Official Twitter: https://twitter.com/mycoinstory_mcs MCS Official Facebook: https://www.facebook.com/MyCoinStory.official MCS Telegram Chat: https://t.me/mycoinstory_EN MCS Official Blog : https://blog.mycoinstory.com
submitted by MyCoinStory to MyCoinStory [link] [comments]

ALTCOIN VS BITCOIN: BATTLE FOR DOMINANCE AFTER THE HALVING

Before we begin, let us hop onto the same page and understand what bitcoin dominance is.

WHAT IS BITCOIN DOMINANCE?

Bitcoin Dominance is simply the market share of bitcoin in the cryptocurrency market determined by market capitalization(Circulating Supply x Price). Bitcoin is by far the largest cryptocurrency by market capitalization and a top contributor in trading volume.
Bitcoin Dominance ratio can be derived from dividing market cap of bitcoin over the sum of the cryptocurrency market cap as a whole. As the dominance represents a ratio of market share, bitcoin dominance is often affected by the performance of altcoins. Therefore, as shown in figure 1 below, the Bitcoin Dominance dropped dramatically at the time ICOs gained popularity where Ethereum almost overtook Bitcoin in market cap.
Figure 1 - Source: coinmarketcap.com

BTC HALVING - AFFECT ON DOMINANCE

As market capitalization is calculated by the circulating supply and price, it is logical to assume that the dominance will gradually fall over time as the rate bitcoin issuance has dropped by half.
However, as shown in figure 2, the Bitcoin Dominance is still maintaining its stance at approximately 67~68%. It is in great interest by many cryptocurrency enthusiasts to see where the dominance will be heading. As the supply rate has dropped, the only way the dominance can be maintained is through the increase in bitcoin price.

Figure 2 - Source: coinmarketcap.com
As of May 11, the date of the 3rd halving, the price of bitcoin has continuously demonstrated an upward trend which was a key factor in maintaining the dominance level.

Figure 3 - Source: coinmarketcap.com
Leading up to the halving, the Bitcoin tweet dominance (shown in Figure 4) also hit its highs since the 2017 bull-run.
Figure 4 - Source: The Tie

ALTCOIN PERFORMANCE

As mentioned above, another factor to consider is the Altcoin performance or the so called "alt-season". Although Bitcoin strongly stands as the main crypto asset across the world, there are many altcoin fans that are waiting for the "alt-season" to come. Now with a major event for Bitcoin out of the way, what influence will this have in the altcoin market?
Furthermore, many institutions and governments are also leveraging altcoin protocols to issue their own cryptocurrencies to add efficiency and innovation to existing systems. These initiatives will bring greater reach to the general public, meaning more demand. Shown in figure 5, over the past month, the so called whales have been discovered stacking up with several key altcoins in their wallets.

Figure 5 - Source: Santiment
Below are some upcoming events for Altcoins and also institutional use cases
Altcoin Events
Institutional Use Cases
Now that the halving is over yet ongoing, uncertainty still remains on how the cryptocurrency space (including dominance) will be reshaped. Will we see another alt-season like the one back in 2017? or is everyone keeping their bitcoins in their pockets?
submitted by MyCoinStory to Crypto_General [link] [comments]

ALTCOIN VS BITCOIN: BATTLE FOR DOMINANCE AFTER THE HALVING

ALTCOIN VS BITCOIN: BATTLE FOR DOMINANCE AFTER THE HALVING
Before we begin, let us hop onto the same page and understand what bitcoin dominance is.

WHAT IS BITCOIN DOMINANCE?

Bitcoin Dominance is simply the market share of bitcoin in the cryptocurrency market determined by market capitalization(Circulating Supply x Price). Bitcoin is by far the largest cryptocurrency by market capitalization and a top contributor in trading volume.
Bitcoin Dominance ratio can be derived from dividing market cap of bitcoin over the sum of the cryptocurrency market cap as a whole. As the dominance represents a ratio of market share, bitcoin dominance is often affected by the performance of altcoins. Therefore, as shown in figure 1 below, the Bitcoin Dominance dropped dramatically at the time ICOs gained popularity where Ethereum almost overtook Bitcoin in market cap.

Figure 1 - Source: coinmarketcap.com

BTC HALVING - AFFECT ON DOMINANCE

As market capitalization is calculated by the circulating supply and price, it is logical to assume that the dominance will gradually fall over time as the rate bitcoin issuance has dropped by half.
However, as shown in figure 2, the Bitcoin Dominance is still maintaining its stance at approximately 67~68%. It is in great interest by many cryptocurrency enthusiasts to see where the dominance will be heading. As the supply rate has dropped, the only way the dominance can be maintained is through the increase in bitcoin price.
Figure 2 - Source: coinmarketcap.com

As of May 11, the date of the 3rd halving, the price of bitcoin has continuously demonstrated an upward trend which was a key factor in maintaining the dominance level.

Figure 3 - Source: coinmarketcap.com
Leading up to the halving, the Bitcoin tweet dominance (shown in Figure 4) also hit its highs since the 2017 bull-run.
Figure 4 - Source: The Tie

ALTCOIN PERFORMANCE

As mentioned above, another factor to consider is the Altcoin performance or the so called "alt-season". Although Bitcoin strongly stands as the main crypto asset across the world, there are many altcoin fans that are waiting for the "alt-season" to come. Now with a major event for Bitcoin out of the way, what influence will this have in the altcoin market?
Furthermore, many institutions and governments are also leveraging altcoin protocols to issue their own cryptocurrencies to add efficiency and innovation to existing systems. These initiatives will bring greater reach to the general public, meaning more demand. Shown in figure 5, over the past month, the so called whales have been discovered stacking up with several key altcoins in their wallets.

Figure 5 - Source: Santiment
Below are some upcoming events for Altcoins and also institutional use cases
Altcoin Events
  • Ethereum 2.0
  • Theta Mainnet
  • Zilliqa - Zilon v2.0 Release
  • Kyber Network - KyberDAO Launch
Institutional Use Cases
  • Reddit - Ethereum Based Cryptocurrency Engagement Reward
  • Visa - Files many patents on Cryptocurrency
  • Libra - Singapore State Investor Temasek Joins Libra
Now that the halving is over yet ongoing, uncertainty still remains on how the cryptocurrency space (including dominance) will be reshaped. Will we see another alt-season like the one back in 2017? or is everyone keeping their bitcoins in their pockets?
submitted by MyCoinStory to btc [link] [comments]

Bitzbase Crypto Investment

Bitzbase is an online cryptocurrency broker which aids both experience and inexperienced traders make profits from the cryptocurrency world. We offer a platform for cryptocurrency Investment. With the intuition of our renowned data analyst who steadily monitor the index market chart, we offer different packages with interest percentages
Trading Bitcoin is relatively easy, but nobody wants to record loses in whatever line of business especially when you have little experience. This is why Bitzbase has dedicated specialists with over 10 years experience in this field who work tirelessly to make sure our clients record zero or minimal loses.

How Bitzbase Works

At Bitzbase, we believe in the future of digital assets and the importance of their role in enhancing the current financial system. By having access to unbiased
information and proven strategies, anyone can leverage this opportunity and capitalize on it. The content created here at Bitzbase is the result of countless hours of research and years of experience. Content that is available at your fingertips to assist anyone and everyone; from beginners to seasoned traders/investors, to achieve their desired outcomes.
Bitzbase reduces the risk of losing by making sure you make profits through margin trading. Instead of doing the regular trade and sweating to make wins, we do the sweating for you and help you manage the risks.
All you need to do is to make deposit of amount you intend to begin with in BTC. You make profits based on how much you deposit depending on your investment plan (ie with $1000 deposit you earn 2% daily for the starter plan). Trades should run for about 14days before first withdrawal can be initiated, or a long term invest of $5000 and above can run up to 4months at 3% daily.
How to get started https://www.bitzbase.com/funding
Investing your Bitcoin with Bitzbase reduces the risk of losing Bitcoin due to drop in price, by making sure you make profits through margin trading. Instead of sweating to make wins, Bitzbase does the sweating for you and help you manage the risks.
All you need to do is make deposit of amount you intend to begin with. You make profits based on how much you deposit (ie with $1000 deposit you earn 2% daily ). Afterwards, proceeds can be withdrawn promptly, or a long term invest of $5000 and above can run up to 4months of 3% daily.
We are committed to being a driving force in the cryptocurrency trading revolution by increasing adoption of this innovative technology around the world. Using our streamlined trade listing process, we will advance new, innovative cryptocurrency projects that could potentially transform the way goods, services and operations are managed globally.
submitted by Bitzbase to u/Bitzbase [link] [comments]

Is there such a thing as "alt season"? Was there ever?

I had some requests to post this from the Daily to a separate post:
This post is going to discuss alts, but only in the context of their ratios, and contains useful information for those who are trading BTC against alts either short or long, with the objective of acquiring more BTC.
I made a spreadsheet of the top 10 alts, leaving out USDT and BNB. The dataset I used is the all time historical data from CMC for each coin. I am posting some conclusions from it comparing their BTC ratios over a long term
The tl;dr:
  1. every alt checked has a median negative return in terms of its BTC ratio (even the ones with lifetime BTC ratio gains);
  2. every alt shows ~80 to 87% loss of BTC ratio from all time high (BSV is an outlier. Do you really think it won't keep falling?);
  3. The above two points are related, and taken together mean that, on average, each day you are more likely than not to lose BTC value in every alt examined;
  4. as a corollary from the above, the fact that some alts haven't given up 100% of their BTC gains means that the days they do increase, they increase disproportionately, but not all alts do this, and none of the alts have done so since their respective ATH;
  5. the timing of the ATH's indicates there was no alt season. What actually happened was a series of pump and dumps brought on by the ICO craze. The fact that some peaked well before the BTC ATH, and some peaked well after, combined with how quickly they collapsed, indicates there was no "season. By the time ETH was at ATH, XRP was already down 55% from its ATH. By the time BCH was peaking, ETH was already down 67% from its ATH. When XLM and TRX peaked, BCH was already down 34% from its ATH (just 14 days later!). When EOS was hitting its ATH, XLM was down 19% and TRX was down 29%.
  6. Leaving aside LTC and BSV as outliers (too early and too late respectively), "alt season" ran:
My conclusion is that alts will have pump and dumps from time to time, but almost without exception decrease in value relative to Bitcoin. This makes them a very poor indicator for those looking to trade the ratios to acquire more BTC. The pump will come out of nowhere and fade away just as fast. Missed opportunities can quickly turn what would have been a profitable flip into a massive loss.
Similarly, the unpredictability of these pumps makes leveraged shorts dangerous as fuck. Very few readers can survive their short going under water by 300 or 400%. There seems to be a lot of long term profit in BTC in shorting these things, but tight stops and willingness to reexamine the market is crucial.
If you can catch the right pump and abandon your alt before it dumps, you can increase your BTC stack. The time frame for doing so is small. If you can catch the right pump and short the shit out of it, you could make a ton of BTC.
If a coin has a major (200% pump), every pump after that one is less than the previous.
Alt season was never really a thing, and is simply a by-product of having thousands of shitcoin ICOs all entering the market at the same time. The timing of the pumps among the coins doesn't even line up well with anything.
My theory: alt coins will generally have unpredictable temporary breakouts to historic ATH on the BTC ratio. After the breakout they will continue their gradual slide from ATH to 0BTC.
There is no evidence to suggest that the coins that reached significant ATH and withdrew more than 80% will ever see another such pump again.
ETH
XRP
BCH
LTC
EOS
BSV
XLM
TRX
submitted by NotGonnaGetBanned to BitcoinMarkets [link] [comments]

Top 4 regulated crypto exchanges to trade in this year

https://financialreport24.com/2464/top-4-regulated-crypto-exchanges-to-trade-in-this-yea

Top 4 regulated crypto exchanges to trade in this year

Regulation and license are two most crucial factors to check out while looking for a crypto exchange. Unregulated exchanges can’t be trusted for safe trading as these can always take illicit and fraudulent means given the lack of regulations. Thus, when you will check out a crypto exchange, make sure its website or whitepaper clearly mentions about its regulation status. If you don’t find any such data, consider a red flag. Are you in quest of a regulated crypto exchange? Check out the article below as it offers a brief on the top regulated crypto exchanges you can count on.
HitBTC
Founded in 2013, the platform claims to be the “best advanced crypto exchange” in the world. The exchange is under regulation and is all set to launch its licensed subsidiary soon in Japan. HitBTC operates with a state of the art matching algorithm and the exchange is solely for crypto-to-crypto trading. Although the platform does not support fiat currency yet users here are able to purchase BTC with credit card
Huobi
Huobi is a China-based crypto exchange that is registered in Republic of Seychelles. It’s headquarter is in Singapore and the exchange also has multiple offices across Korea, Japan, Hong Kong and the USA. Huobi operates with various versions. There is its OTC portal which allows fiat-to-crypto trading without any kind of fees. You also have Huobi Pro which is meant for crypto-to-crypto trading for advanced traders. The Pro version extends round the clock customer service.
Decoin
Decoin is a fast rising crypto exchange and it also has its own native coin by the name of DTEP. You will be relieved to know the company is regulated and licensed by Estonian Financial Intelligence Unit. Decoin promises easy trading for both new and seasoned traders. DTEP holders have access to discounted trading fees and the exchange’s unique revenue sharing program. As per the program, Decoin shares 20% of its revenue with its coin holders. Decoin has taken strict security measures and stores 97% of its assets in cold wallet. The remaining assets are backed by insurance.
BitMEX
BitMEX is especially built for dedicated crypto traders. The platform continuously processes more than 2 billion USD in transactions in 24-hour period. One of the most unique aspects of the portal is that it extends leveraged contracts (perpetual contracts and futures contracts) which are sold and purchased with Bitcoin. BitMEX is registered in Republic of Seychelles.
submitted by DECOINio to u/DECOINio [link] [comments]

BankDex ICo

Cryptocurrency exchanges are one of the most vital applications of the Blockchain industry. The capability of accessing crypto assets, trading them and securely storing them away from the bad actors are a huge responsibility that goes beyond the expectations of a conventional exchange. While some of the pioneers in Fintech and Blockchain financial services have managed to explore the crypto world with élan, many have fallen prey to the inherent and vicious cycle of fraud attacks.
In this blog, we take a look at the top centralised competitors of our BankDex decentralised multicurrency exchange and analyse how it fares better than its counterparts.
Even after 10 years since the conception of the first crypto asset, the debate — centralised vs decentralised is still on. The primary distinction between a centralised and decentralised exchange lies in ownership. Although the concept of centralised exchanges have been in existence since long, decentralised exchanges (a model created with the advent of crypto assets and an immutable, transparent ledger) is relatively new. BankDex integrates the best of both concepts on its cross chain platform, enabling a smooth and fast trading experience to its users.
Blockchain allows the creation of a market place for the exchange of assets without oversight or permission and keeping track of the asset ownership without the help pf a third party. The advantages and limitations of the exchanges lay within the bounds of 5 distinct areas namely — anonymity, fees, fiat to crypto transfer, ownership and liquidity. Before we analyse the benefits of BankDex over the top centralised exchanges in market, let’s have a brief look at the working of a centralised exchange.
Centralisation in Cryptocurrency Exchanges
Today, the blockchain industry acts as the marketplace for exchanges that take the role of a trusted third party in asset transfer or exchange. To be more specific, centralised exchanges act as the custodian of user funds, unlike decentralised exchanges were the assets are completely held by the clients themselves. A traditional centralised exchange holding its client’s fiat, crypto assets or both is considered both as a custodian as well as an exchange. Besides, the exchanges which provide functionalities such as margin trading function on lines of a prime broker as well.
Some of the most popular exchanges in the market like Binance and Coinbase are centralised in nature. They act as the conventional gateway to the crypto world. For many, having a cryptocurrency exchange hold their funds is not a problem. However, the same cannot be said of all, especially the institutional investors. Centralised custody in these exchanges often presents the threat of counter party risks.
Working of a centralised exchange
When you deposit funds in a centralised exchange, you are actually giving it money, that is the digital assets in your account or wallet is transferred directly into the bank account or the wallet associated with the exchange. The balance seen in the exchange account or wallet is essentially produced as the result of the database entry which is updated by the cryptocurrency exchange. The funds in the exchange are mingled together with the fund of the exchange. The cryptocurrency exchange is the lone source of trust with regards to the balance of the clients.
The present day cryptocurrency trade is structured in such a way that certain companies hold billions of dollars’ worth of cryptocurrencies of customers. The counterparty risk with is one of the main concerns in crypto trading platforms are centralised by companies that hold the funds, execute trades and trade, finance & leverage for conducting trade on self-owned accounts on the platform. As mentioned earlier, the cryptocurrency exchange platform is the only source of truth for the funds of the exchanges.
The cryptocurrency markets have always urged for three main concepts:
· The funds should be held by appropriate entities only. These entities, be it banks or custodians should be able to keep these assets from theft or loss. Decentralization rose in popularity mainly due to this aspect. In decentralized exchange, the fund is held under the custody of the trader and there is no involvement from any third party.
· Counterparty risks should be centralised or handled by any selected and dedicated entity. No conventional exchange takes these risks upon themselves and are usually handled by clearing houses which may not be competent authority to ensure security. BankDex overcomes this problem through its decentralised solutions.
· The need of a trust less solution. The market needs to implement a trading platform similar to the Bitcoin network that ensures a trustless interaction between the entities involved in the transaction. This will ensure that an investor pays the accurate price and is not cheated or subjected to fraud by the other participants in a trading lifecycle.
The BankDex decentralized multicurrency exchange implements these concepts to create a trading platform that is secure, simple and is accessible by both beginners and seasoned traders.
For more information : https://medium.com/@bankdex.org/the-bankdex-advantage-a-comparison-of-bankdex-with-top-centralised-exchanges-d675f3f4989e
submitted by Joygalz to BankdexICO [link] [comments]

The BankDex Advantage: A Comparison of BankDex with Top Centralised Exchanges

Cryptocurrency exchanges are one of the most vital applications of the Blockchain industry. The capability of accessing crypto assets, trading them and securely storing them away from the bad actors are a huge responsibility that goes beyond the expectations of a conventional exchange. While some of the pioneers in Fintech and Blockchain financial services have managed to explore the crypto world with élan, many have fallen prey to the inherent and vicious cycle of fraud attacks.
In this blog, we take a look at the top centralised competitors of our BankDex decentralised multicurrency exchange and analyse how it fares better than its counterparts.
Even after 10 years since the conception of the first crypto asset, the debate — centralised vs decentralised is still on. The primary distinction between a centralised and decentralised exchange lies in ownership. Although the concept of centralised exchanges have been in existence since long, decentralised exchanges (a model created with the advent of crypto assets and an immutable, transparent ledger) is relatively new. BankDex integrates the best of both concepts on its cross chain platform, enabling a smooth and fast trading experience to its users.
Blockchain allows the creation of a market place for the exchange of assets without oversight or permission and keeping track of the asset ownership without the help pf a third party. The advantages and limitations of the exchanges lay within the bounds of 5 distinct areas namely — anonymity, fees, fiat to crypto transfer, ownership and liquidity. Before we analyse the benefits of BankDex over the top centralised exchanges in market, let’s have a brief look at the working of a centralised exchange.
Centralisation in Cryptocurrency Exchanges
Today, the blockchain industry acts as the marketplace for exchanges that take the role of a trusted third party in asset transfer or exchange. To be more specific, centralised exchanges act as the custodian of user funds, unlike decentralised exchanges were the assets are completely held by the clients themselves. A traditional centralised exchange holding its client’s fiat, crypto assets or both is considered both as a custodian as well as an exchange. Besides, the exchanges which provide functionalities such as margin trading function on lines of a prime broker as well.
Some of the most popular exchanges in the market like Binance and Coinbase are centralised in nature. They act as the conventional gateway to the crypto world. For many, having a cryptocurrency exchange hold their funds is not a problem. However, the same cannot be said of all, especially the institutional investors. Centralised custody in these exchanges often presents the threat of counter party risks.
Working of a centralised exchange
When you deposit funds in a centralised exchange, you are actually giving it money, that is the digital assets in your account or wallet is transferred directly into the bank account or the wallet associated with the exchange. The balance seen in the exchange account or wallet is essentially produced as the result of the database entry which is updated by the cryptocurrency exchange. The funds in the exchange are mingled together with the fund of the exchange. The cryptocurrency exchange is the lone source of trust with regards to the balance of the clients.
The present day cryptocurrency trade is structured in such a way that certain companies hold billions of dollars’ worth of cryptocurrencies of customers. The counterparty risk with is one of the main concerns in crypto trading platforms are centralised by companies that hold the funds, execute trades and trade, finance & leverage for conducting trade on self-owned accounts on the platform. As mentioned earlier, the cryptocurrency exchange platform is the only source of truth for the funds of the exchanges.
The cryptocurrency markets have always urged for three main concepts:
· The funds should be held by appropriate entities only. These entities, be it banks or custodians should be able to keep these assets from theft or loss. Decentralization rose in popularity mainly due to this aspect. In decentralized exchange, the fund is held under the custody of the trader and there is no involvement from any third party.
· Counterparty risks should be centralised or handled by any selected and dedicated entity. No conventional exchange takes these risks upon themselves and are usually handled by clearing houses which may not be competent authority to ensure security. BankDex overcomes this problem through its decentralised solutions.
· The need of a trust less solution. The market needs to implement a trading platform similar to the Bitcoin network that ensures a trustless interaction between the entities involved in the transaction. This will ensure that an investor pays the accurate price and is not cheated or subjected to fraud by the other participants in a trading lifecycle.
The BankDex decentralized multicurrency exchange implements these concepts to create a trading platform that is secure, simple and is accessible by both beginners and seasoned traders.
For more information : https://medium.com/@bankdex.org/the-bankdex-advantage-a-comparison-of-bankdex-with-top-centralised-exchanges-d675f3f4989e
submitted by Bethmotel to BankdexICO [link] [comments]

[ECON] The Great Redemption

[M] Apologies for reposting this, but on my end the post kept disappearing for some reason, and I doubt anyone else could see it.
—————
[Central Bank of Chile](https://www.bcentral.cl/web/central-bank-of-chile/home), Augustinas 1180, Santiago de Chile

The Road to Redemption

January 9th, 2022
Following the collapse of Lehman Brothers on September 15th, 2008, the international financial fabric was torn apart into an existential crisis. Threatened by the "Great Recession", the global ruling class was forced into taking decisive action. Most Governments opted to bail out the banks, driven by their mantra of "too big to fail". Elsewhere, financial authorities and Central Banks opted to do the unthinkable by letting the market collapse.
In the wake of the global recession, a plethora of financial reforms were carried out. Some economists revisited the concept of doing away with fractional reserve banking altogether, with Iceland nearly leading the way. Most conventional politicians, meanwhile, opted to enact some of the most complex regulatory legislation in financial history, adding over eleven thousand pages to the bureaucratic burdern in the process.In the meantime, the regular "bloke on the street" had finally had enough and clamoured for change.
Today, nearly fifteen years later, "recession" has once again become the name of the game. With the European economy entering a state of contraction and German commercial banks facing imminent collapse, the global economic system is on the edge of being subjected to the worst economic crisis in recorded history. And while the Bundestag has already **recommitted itself to a bailout, others have yet to respond to the impending financial meltdown.
Although Chile and the rest of Latin America are somewhat isolated and thus shielded from the "European dumpster fire", the Government is keenly aware that the situation could quickly take a turn for the worse. As such, the Ministry of Finance and the Central Bank of Chile have decided to embark on what they call "The Great Redemption". And although financial reform is contrary to the Allende Administration's strictly interim nature of governance, the President believes that the State has an inherently entrenched obligation to protect its citizens from suffering at the hands of the financial system. "The old continent has finally met its end", an increasingly aged and fragile Allende told the New York Times. "And in this new world order, Chile leads the way."

Hard-coded Monetarism

Following the global financial and subsequent European sovereign debt crisis, the European Central Bank embarked on a "Quantitative Easing" program of monumental proportions. While "Super Mario's" money printing machine allowed for Keynesian contra-cyclical spending, the long-term consequences of the ECB's continued buyback program have seemingly far outstripped the benefits. Negative interest rates have become standard practice across the Eurozone, and Christine Lagarde's continuation of her predecessor's policies has effectively led to the loss of the continent's ability to undertake monetary policy. Meanwhile, "inflation's ugly twin" is threatening to put a halt to consumer spending, potentially throwing more oil on the continental-sized dumpster fire.

Towards a Cashless Society

Following the introduction of Bitcon in the wake of the global financial crisis, digital cryptocurrencies have promised to dramatically reshape our moodern conception of money. After having watched privately-sanctioned digital coinage wax and wane for several years, Central Bankers across the globe have increasingly started calling for a public alternative. The dangers of private digital fiat money became abundantly clear when social media behemoth Facebook announced it would issue its own global cryptocurrency), with the Bank for International Settlements publicly denouncing the notion of digital currency being monopolised by private actors. The French and German Governments quickly followed suit, striking a major blow to the Libra.

Privatisation with a Human Face

Founded in 1953 by President Carloz Ibañez del Campo, the Bank of Chilean State is the country's third largest bank. BancoEstado has been ranked Latin America's safest bank since 2012, and the 48th safest bank in the world and 6th in the Southern Hemisphere since 2015. BancoEstado - whicich is rated AA3 by Moody's - is furthermore the only bank to service all of the country's communes, while being the sole financial service provider in theseventy-seven of the most remote Chilean localities.

Premium Insurance

Other Measures

The Chilean Government hopes - above all - that its willingness to undertake radical reforms will serve to inspire Euuropean Governments and Central Banks into being ambitious in their response to the continet's economic issues. At the same time, the Chilean financial sector is expected to become one of the world's most innovative, competitive and dynamic payments markets, continuing the country's reputation as Latin America's "Shining Star".Only time will tell whether or not these reforms will actually bear their fruits.

Footnotes

  • 1 - Based on a quote by Milton Friedman.
  • 2 - Customer support, mobile and internet banking, etc
  • 3 - I based this figure on the 2018 Annual Report, where on page 46 it states that the bank's total consolidated assets total more than $40 billion dollars. The figures I gave in terms of revenue are based on the subsequent economic growth, the willingness of Chileans to gain ownership of the bank for nationalist reasons, and on thee fact that both Peter_j_ and ForestChapel valued the bank at $50 billion in previous seasons. Please feel free to provide me with imput as I'm not very well vested in corporate valuations.
  • 5 - This is based on the so-called Bibby Plan, which is briefly described on the deposit insurance wikipedia page, as well as on basic econoics.
  • 6 - Regulations regarding the creation of a new bank will be adressed in a separate post.
[M] Much of the stuff in this post is based on recommendations by the Sustainable Finance Lab, a high profile Dutch financial think tank. As such, some of the stuff in this post might be a bit out of place considering the vastly different nature of the Dutch financial sector. Most of it should still be universally applicable, though.
submitted by TheForgottenVanGogh to GlobalPowers [link] [comments]

The BankDex Advantage: A Comparison of BankDex with Top Centralised Exchanges

The BankDex Advantage: A Comparison of BankDex with Top Centralised Exchanges
Introduction
Cryptocurrency exchanges are one of the most vital applications of the Blockchain industry. The capability of accessing crypto assets, trading them and securely storing them away from the bad actors are a huge responsibility that goes beyond the expectations of a conventional exchange. While some of the pioneers in Fintech and Blockchain financial services have managed to explore the crypto world with élan, many have fallen prey to the inherent and vicious cycle of fraud attacks.
In this blog, we take a look at the top centralised competitors of our BankDex decentralised multicurrency exchange and analyse how it fares better than its counterparts.
Even after 10 years since the conception of the first crypto asset, the debate — centralised vs decentralised is still on. The primary distinction between a centralised and decentralised exchange lies in ownership. Although the concept of centralised exchanges have been in existence since long, decentralised exchanges (a model created with the advent of crypto assets and an immutable, transparent ledger) is relatively new. BankDex integrates the best of both concepts on its cross chain platform, enabling a smooth and fast trading experience to its users.
Blockchain allows the creation of a market place for the exchange of assets without oversight or permission and keeping track of the asset ownership without the help pf a third party. The advantages and limitations of the exchanges lay within the bounds of 5 distinct areas namely — anonymity, fees, fiat to crypto transfer, ownership and liquidity. Before we analyse the benefits of BankDex over the top centralised exchanges in market, let’s have a brief look at the working of a centralised exchange.
Centralisation in Cryptocurrency Exchanges
Today, the blockchain industry acts as the marketplace for exchanges that take the role of a trusted third party in asset transfer or exchange. To be more specific, centralised exchanges act as the custodian of user funds, unlike decentralised exchanges were the assets are completely held by the clients themselves. A traditional centralised exchange holding its client’s fiat, crypto assets or both is considered both as a custodian as well as an exchange. Besides, the exchanges which provide functionalities such as margin trading function on lines of a prime broker as well.
Some of the most popular exchanges in the market like Binance and Coinbase are centralised in nature. They act as the conventional gateway to the crypto world. For many, having a cryptocurrency exchange hold their funds is not a problem. However, the same cannot be said of all, especially the institutional investors. Centralised custody in these exchanges often presents the threat of counter party risks.
Working of a centralised exchange
When you deposit funds in a centralised exchange, you are actually giving it money, that is the digital assets in your account or wallet is transferred directly into the bank account or the wallet associated with the exchange. The balance seen in the exchange account or wallet is essentially produced as the result of the database entry which is updated by the cryptocurrency exchange. The funds in the exchange are mingled together with the fund of the exchange. The cryptocurrency exchange is the lone source of trust with regards to the balance of the clients.

https://preview.redd.it/rypvqfuirj731.png?width=624&format=png&auto=webp&s=29b6b77fb1c6baab85d307c9bc37500cef72ae36
The present day cryptocurrency trade is structured in such a way that certain companies hold billions of dollars’ worth of cryptocurrencies of customers. The counterparty risk with is one of the main concerns in crypto trading platforms are centralised by companies that hold the funds, execute trades and trade, finance & leverage for conducting trade on self-owned accounts on the platform. As mentioned earlier, the cryptocurrency exchange platform is the only source of truth for the funds of the exchanges.
The cryptocurrency markets have always urged for three main concepts:
· The funds should be held by appropriate entities only. These entities, be it banks or custodians should be able to keep these assets from theft or loss. Decentralization rose in popularity mainly due to this aspect. In decentralized exchange, the fund is held under the custody of the trader and there is no involvement from any third party.
· Counterparty risks should be centralised or handled by any selected and dedicated entity. No conventional exchange takes these risks upon themselves and are usually handled by clearing houses which may not be competent authority to ensure security. BankDex overcomes this problem through its decentralised solutions.
· The need of a trust less solution. The market needs to implement a trading platform similar to the Bitcoin network that ensures a trustless interaction between the entities involved in the transaction. This will ensure that an investor pays the accurate price and is not cheated or subjected to fraud by the other participants in a trading lifecycle.
The BankDex decentralized multicurrency exchange implements these concepts to create a trading platform that is secure, simple and is accessible by both beginners and seasoned traders.
BankDex vs Popular Centralised Exchanges: A Comparison Analysis

https://preview.redd.it/oj5atmhsrj731.png?width=653&format=png&auto=webp&s=3e9ff4fd587d8d86d866254d15e53a4d5bb19625

https://preview.redd.it/aot9wbptrj731.jpg?width=650&format=pjpg&auto=webp&s=463f8985b03781f10fe643da0564f530a033474a

https://preview.redd.it/yzo9qezurj731.jpg?width=648&format=pjpg&auto=webp&s=c79d2854a1765a899d9763490ecd0774306339e8
submitted by hussnill to ico [link] [comments]

Daily analysis of cryptocurrencies 20191021(Market index 37 — Fear state)

Daily analysis of cryptocurrencies 20191021(Market index 37 — Fear state)

https://preview.redd.it/fvnsi6vuvvt31.jpg?width=1080&format=pjpg&auto=webp&s=41a8a6f3ddccb300af619e212cdaa8fa371e415d

Huawei Filed Patent Application For Blockchain-Based Settlement Citing information from Tian Yan Cha, a tool for commercial surveys, Huawei has filed a patent application for blockchain-based settlement. Per the application form, the patent can be used to verify the original data sent from the client end and settle the generation process from data to bills.
Korean Firms To Launch Trial Version Of All-In-One ID Verification App By End Of 2019 South Korean mobile carriers, smartphone makers, and financial firms, including Samsung Electronics, Hyundai Card, Shinhan Bank, etc. have joined hands to launch a decentralized ID service, named Initial, on a trial basis this year. The new service will essentially verify an individual’s identity without tangible documents like graduation or employment certificates, and enable taking out loans or applying for jobs, through a single mobile App. This is the second endeavor to launch a mobile identity verification system using blockchain technologies, after a similar effort by the Korea Financial Telecommunications & Clearings Institute.
China’s State Council To Strengthen Blockchain-Powered Regulation On Bills, Entertainment, And Healthcare China’s State Council addressed the need for stricter regulation on sectors of bills, entertainment, and healthcare in the Enhanced Regulation Guidance published recently, which points out the benefits and importance of leveraging nascent technologies, such as blockchain, big data, IoT, cloud computing, AI, etc. The Guidance explains that technologies like blockchain can reduce regulatory costs, minimize interference, and maximum effects of regulation. According to the State Council, blockchain, as a critical technology, is a natural fit for the regulatory frameworks, it can facilitate with the integration of regulatory infrastructures, offer reliable and timely transaction status, and improve information transparency.

Encrypted project calendar(October 21, 2019)

KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money. Horizen (ZEN): 21 October 2019 Sidechains Alpha Release Horizen releasing the alpha version of industry first decentralized and unfederated sidechains. Horizen (ZEN): 21 October 2019 Updated Whitepaper Horizen releasing an updated whitepaper. Kuverit (KUV) : IDAX will list #Kuverit (KUV) and open trading for KUV/BTC trading pair. is going to be listed on 21 Oct, at 10:00 am (UTC+8). VRD/VRD Chain: VRD Chain (VRD) WBF Exchange will launch VRD/ETH trading pairs in the open area on October 21st at 10:00. MKMaker: MakerDAO (MKR) WBF Exchange will launch the MKUSDT trading pair in the open area on October 21st at 16:00. H56/H56 Token: H56 Token (H56) OEx International Station will be launched on October 21st at 14:30. NAUC/Nautical Coin: The Nautical Coin (NAUC) BiKi platform will open NAUC recharge and withdrawal at 14:00 on October 21, and open the NAUC/USDT transaction pair at 14:00 on October 24th. Celer Network (CELR): 21 October 2019 AMA “Come and join our AMA on Monday, OCT 21 at 7PM(PST).” Ankr (ANKR) : 21 October 2019 Moscow Meetup “This Monday, Oct 21, we are co-hosting a meetup with @Binance in Moscow!” Ethereum Classic (ETC): 21 October 2019 AMA @ETCCooperative Executive Director @BobSummerwill will participate in an AMA held by @GuardaWallet Nebulas (NAS): 21 October 2019 Community Fund Vote “The time has come for the community to decide what to do with the remaining community fund containing 34 million $NAS.” Hype Token (HYPE): 21 October 2019 Limited HYPE NFT Badges Level 5 & 6 NFT Badges has been released. As part of HYPE Token’s community rewards program, you can collect super rare NFT badges! IOST (IOST): 21 October 2019 Weekly Summary “Here’s a quick summary of the week of 14th Oct 2019 by @iostWatch

Encrypted project calendar(October 22, 2019)

ZRX/0x: The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22. Locus Chain (LOCUS): 22 October 2019 Public Test Begins Public test runs for three days from October 22nd to October 24th. IOTA (MIOTA): 22 October 2019 EclipseCon Europe Next week, join Lewis Freiberg, our Director of Ecosystem, to learn how to build an ecosystem around IoT focused distributed ledgers. TRON (TRX): 22 October 2019 TRC20-USDT Bonanza “… @Huobiglobal . Deposit #TRC20- #USDT, enjoy APR up to 30%, starting from 00:00, Oct, 22 to 00:00, Nov, 1, 2019(SGT).” PCHAIN (PI): 22 October 2019 Ama with Founder & CEO “Jeff Cao PCHAIN founder & CEO, will host an AMA on 22nd Oct at 11:00 PM (UTC+8) in the @Binance_DEX Telegram.” iExec RLC (RLC): 22 October 2019 AMA “Tuesday 22 October 2019. You can ask the team anything you want until Thursday 17 October.”

Encrypted project calendar(October 23, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.” BTC/Bitcoin: The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th. Cardano (ADA) and 1 other: 23 October 2019 WBS Dubai “One of a kind gathering of 500+ curated & pre-qualified investors, CEOs, CIOs, CTOs, Heads of Blockchain, Chief Digital Officers CloakCoin (CLOAK): 23 October 2019 (or earlier) CloakCoin Competition “CloakCoin competition : solve the CloakCoin ENIGMA transaction, 3rd round.” Loom Network (LOOM): 23 October 2019 Singapore Meetup “Unstack the Stack Series: Loom Network” from 6:30–8:30 PM (SST). BTGS/Bitdog: ZG.COM will open the BTGS currency and coin transfer business at 14:00 on October 23, and open the BTGS/USDT transaction pair on October 23 at 18:18. Waltonchain (WTC): 23 October 2019 Transfers Suspended “$WTC deposits and withdrawals on #TaibiExchange will be suspended from 00:00 Oct 22 (UTC+8) and are estimated to resume at 15:00 Oct 23

Encrypted project calendar(October 24, 2019)

BCN/Bytecoin: Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24. Horizen (ZEN): 24 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. ANT/Aragon: Aragon (ANT) Aragon Network will hold the theme “DAO: ICO and DeFi next step” in Hong Kong on October 24th? DATA/Streamr DATAcoin: Streamr DATAcoin (DATA) Streamr Network Technology Exchange and Project Development Conference will be held in London on October 24th. Lisk (LSK): 24 October 2019 Coding Workshop — Berlin “During this workshop you will acquire the skills to create custom transactions with the Lisk Alpha SDK using Node.js.” BTU Protocol (BTU): 24 October 2019 Africa IT Expo “Our co-founder @vidal007 will be speaking at upcoming @africa_aitex [African IT Expo] held in #Rabat #Morocco on 24th of October.” Matrix AI Network (MAN): 24 October 2019 YouTube AMA YouTube AMA from 3PM, October 24 (GMT+8). Utrum (OOT): 24 October 2019 AtomicDex Listing “We are pleased to announce that Utrum coin OOT is getting listed on Komodo Platform Decentral Exchange — AtomicDEX. “

Encrypted project calendar(October 25, 2019)

ADA/Cardano: Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25. Crypto.com Coin (CRO): 25 October 2019 Live AMA with CEO “Live AMA with our CEO @Kris_HK on @cryptocom’s Twitter next Friday, 25 October, 11AM HKT.” GST/GSTCOIN: GSTCOIN(GST)LBank will be online GST on October 25, 2019 at 16:00 (UTC+8), open trading pair: GST/USDT, GST/ETH.

Encrypted project calendar(October 26, 2019)

KAT/Kambria: Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS. BTC/Bitcoin: CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th Horizen (ZEN): 26 October 2019 (or earlier) ZEN 2.0.19 Upgrade Zen 2.0.19 upgrade at block #610000, which is expected around October 26.

Encrypted project calendar(October 27, 2019)

ICON (ICX): 27 October 2019 Money 20/20 USA Event Money 20/20 USA in Las Vegas from October 27–30.

Encrypted project calendar(October 28, 2019)

LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28 ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th Stellar (XLM): 28 October 2019 Protocol 12 Upgrade Vote Horizon v0.22.0 has been released, which supports Protocol 12. This gives everyone ample time to prepare for the Protocol 12 upgrade vote Celsius (CEL) and 3 others: 28 October 2019 Litecoin Summit “…The Litecoin Summit offers two fun, jam-packed days with something for everyone.” XFOC (XFOC): The IDAX platform will be online XFOC and will open the XFOC/USDT trading pair at 13:00 on October 28. MEDIUM (MDM): The IDAX platform lists MDM and will open MDM/BTC trading pairs on October 28th at 15:00. ZB/ ZB Blockchain: The “2019 Hamburg Intercontinental Dialogue Conference” hosted by ZB.com will be held from October 28th to November 9th at the Four Seasons Hotel Hamburg, Germany. BQT (BQTX): 28 October 2019 Down for Maintenance BQTX.com will be down for maintenance on the 28th of October from 7 to 12am UTC.

Encrypted project calendar(October 29, 2019)

BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st. ICON (ICX): 29 October 2019 Decentralization “As a result, the decentralization schedule of the ICON Network has been changed from September 24, 2019 to October 29, 2019.” Ark (ARK): and 10 others 29 October 2019 WCC 2019 Second annual Blockchain and Cryptocurrency Technology event, World Crypto Conference (WCC), October 29th — October 31, 2019. Insifa (ISF): 29 October 2019 Prototype Alpha “We from Insifa have decided to be more open. Our Prototype will be developed in scrum. This means new releases every two weeks.”

Encrypted project calendar(October 30, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.” TRON (TRX): 30 October 2019 SFBW19 Afterparty “TRON Official SFBW19 Afterparty from 7–10:30 PM in San Francisco.” Horizen (ZEN): 30 October 2019 Horizen Quarterly Update Join our first Quarterly Update on October the 30th at 5 PM UTC/ 1 PM EST. Deeper look into Engineering, BD, Marketing, and more. Aeternity (AE): 30 October 2019 Hardfork “The third hardfork of the æternity Mainnet is scheduled for October 30, 2019.” Valor Token (VALOR): 30 October 2019 Transaction Fees Resume “It’s September and the SMART VALOR Platform is still waiving transaction fees for all members, until October 30th!” Aragon (ANT): 30 October 2019 Singapore Meetup “Aragon on DAOs and DeFi” from 6:30–8:30 PM. Kambria (KAT): 30 October 2019 Outliers Hashed Awards Outliers Hashed awards from October 30–31. Ethereum Classic (ETC): 30 October 2019 Cohort Demo Day “ETC Labs hosts it’s 2nd Cohort Demo Day. Learn about the companies and project being accelerated through the Ethereum Classic ecosystem.”

Encrypted project calendar(October 31, 2019)

Spendcoin (SPND): 31 October 2019 (or earlier) Cross Ledger Mainnet “Cross Ledger Mainnet Release and SPND Token Swap,” during October 2019. Spendcoin (SPND): 31 October 2019 (or earlier) Blkchn University Beta “Blockchain University Beta goes live,” during October 2019. Stellar (XLM): 31 October 2019 (or earlier) Minor Release “We will have 6 Minor Releases in 2019; one each in February, March, May, June, August, and October.” Bitcoin SV (BSV): 31 October 2019 (or earlier) BSV Conference Seoul No additional information. Seele (SEELE): 31 October 2019 (or earlier) Public Network Mainne launch has been moved to Oct 31 . Howdoo (UDOO): 31 October 2019 (or earlier) Howdoo Live on Huawei Howdoo begins its exciting partnership with Huawei with listing as a featured app starting in October. Chiliz (CHZ): 31 October 2019 (or earlier) App Soft Launch Soft launch of Socios App by end of October. Dent (DENT): 31 October 2019 (or earlier) Loyalty Program “Afterburner loyalty program launch for all 21,6 Million mobile #DENT users will be in October!” IceChain (ICHX): 31 October 2019 (or earlier) Wallet Release IceChain releases wallet during October. Chiliz (CHZ): 31 October 2019 (or earlier) New Partnerships New sports and new teams joining Socios (+more updates and events) will be announced in the upcoming weeks. Horizen (ZEN): 31 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. PCHAIN (PI): 31 October 2019 (or earlier) New Website No additional information. IOST (IOST): 31 October 2019 (or earlier) New Game on IOST “Eternal Fafnir, a new role-playing game developed by INFUN is coming to you in Oct.” Achain (ACT): 31 October 2019 Mainnet 2.0 Launch “… The main network is officially scheduled to launch on October 31.” Mithril (MITH):31 October 2019 Burn “MITH burn will take place on 2019/10/31 2pm UTC+8. “ Aergo (AERGO): 31 October 2019 (or earlier) Aergo Lite V1.0 Release AergoLite, which brings blockchain compatibility to billions of devices using SQLite, released during October 2019. TE-FOOD (TFD): 31 October 2019 (or earlier) Complementary Product “Development of a new, complementary product with a new partner, which we hope to be launched in September-October.” Edge (DADI): 31 October 2019 (or earlier) Full Open Source Code base for the network fully open-sourced in September or October. BlockStamp (BST): 31 October 2019 (or earlier) ASIC Miner Prototype In orderr to ensure BlockStamps continued decentralization, we will release a BST ASIC miner for testing. Perlin (PERL): 31 October 2019 (or earlier) SSA Partnership “Perlin has partnered with the Singapore Shipping Association to create the International E-Registry of Ships (IERS)” Skrumble Network (SKM): 31 October 2019 (or earlier) Exchange Release “3rd dApp: Exchange Release,” during October 2019. EDC Blockchain (EDC): 31 October 2019 (or earlier) Blockchain Marketplace “As you already know, our ECRO blockchain marketplace is ready for release, and will open to the global community in October!” BlockStamp (BST): 31 October 2019 (or earlier) ASIC Miner Prototype In orderr to ensure BlockStamps continued decentralization, we will release a BST ASIC miner for testing. XinFin Network (XDCE): 31 October 2019 Homebloc Webinar “XinFin — Homebloc Webinar 2019” from 9–10 PM. Akropolis (AKRO): 31 October 2019 (or earlier) Alpha Release “Delivers the initial mainnet implementation of protocol. All building blocks will be united to one product.” Hyperion (HYN): 31 October 2019 (or earlier) Economic Model The final version of the HYN Economic Model launches in October.

Encrypted project calendar(November 1, 2019)

INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019. VeChain (VET):”01 November 2019 BUIDLer Reunion Party BUIDLer Reunion Party in San Francisco from 8–11 PM. uPlexa (UPX): 01 November 2019 Steadfast Storm — PoS/PoW split (Utility nodes ie. master nodes) — Upcoming Anonymity Network much like TOR — Privacy-based DApps — Reduced network fees. Enjin Coin (ENJ): 01 November 2019 MFT Binding “ICYMI: On Enjin Coin’s 2nd anniversary (November 1), Enjin MFTs will be bound to hodlers’ blockchain addresses…” Auxilium (AUX):01 November 2019 AUX Interest Distribution Monthly interest distribution by Auxilium Interest Distribution Platform for coinholders. Also supports charity. Havy (HAVY):01 November 2019 Token Buyback “Havy tokens buyback, Only in 1 exchange between Idex, Mercatox & Hotbit. The exchange depends on the most lower sell wall.”

Encrypted project calendar(November 2, 2019)

Kambria (KAT): 02 November 2019 VietAI Summit 2019 Kambria joins forces with VietAI for the annual VietAI Summit, with top experts from Google Brain, NVIDIA, Kambria, VietAI, and more!

Encrypted project calendar(November 4, 2019)

Stellar (XLM): 04 November 2019 Stellar Meridian Conf. Stellar Meridian conference from Nov 4–5 in Mexico City. Cappasity (CAPP): 04 November 2019 Lisbon Web Summit Lisbon Web Summit in Lisbon, Portugal from November 4–7.

Encrypted project calendar(November 5, 2019)

Nexus (NXS): 05 November 2019 Tritium Official Release “Remember, Remember the 5th of November, the day Tritium changed Distributed Ledger. Yes, this is an official release date.” NEM (XEM): 05 November 2019 Innovation Forum — Kyiv NEM Foundation Council Member Anton Bosenko will be speaking in the upcoming International Innovation Forum in Kyiv on November 5, 2019.

Encrypted project calendar(November 6, 2019)

STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.

Encrypted project calendar(November 7, 2019)

XRP (XRP): 07 November 2019 Swell 2019 Ripple hosts Swell from November 7th — 8th in Singapore.

Encrypted project calendar(November 8, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Encrypted project calendar(November 9, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.
https://preview.redd.it/25yzdn8yvvt31.png?width=504&format=png&auto=webp&s=31b4e04dfff879aff9ee1327bbabea4c989861e4

This past week, we saw mostly bearish moves in bitcoin below the $8,200 support area against the US Dollar. BTC price even settled below $8,000 and the 100 hourly simple moving average. However, the $7,800 area acted as a strong support. As a result, BTC started a decent recovery above the $8,000 resistance area and the 100 hourly SMA. Moreover, there was a break above a contracting triangle with resistance near $8,000 on the hourly chart.
More importantly, the price surpassed the main $8,200 resistance area (as discussed in the weekly forecast). Finally, the price traded above the $8,250 level and tested the $8,300 zone. A high was formed near $8,305 and the price is currently consolidating gains. An immediate support is near the $8,200 level or the 23.6% Fib retracement level of the recent recovery from the $7,884 low to $8,305 high.
Additionally, there is a short term breakout or bullish continuation pattern forming with resistance near $8,250 on the same chart. If there is an upside break above $8,250, bitcoin price could continue to rise towards the $8,300 and $8,350 resistance levels. The next key resistance on the upside is near the $8,400 level.
Review previous articles: https://medium.com/@to.liuwen

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A New Era For Crypto Tracking of Crypto Assets

A New Era For Crypto Tracking of Crypto Assets
Blockchain and cryptocurrency technology has rapidly expanded its global presence, creating conflict and excitement within the financial and technology industries. This rapid growth of investors, new coins, stablecoins, currencies, companies, businesses, miners and the entire ecosystem is a complex and dizzying puzzle of moving parts.
In the beginning, the industry faced challenges such as difficult onboarding for new users, speed and scalability, nefarious scandals, security breaches and a major lack in government regulations. However many of these challenges have been solved with solutions such as the Lightning Network for speed, KYC process for easy and verified new crypto investors and a lot more regulation from the IRS and government regulatory bodies.
Now while these new solutions have paved a path for crypto to penetrate a more mainstream audience and acceptance, for users, investors and businesses they face the daunting task of crypto tracking and asset management.
https://preview.redd.it/xa69jf4cd3x31.jpg?width=321&format=pjpg&auto=webp&s=1904e81e6b33aa00f525684a5906b39a1db70d58
The most difficult challenges for today’s crypto investors and businesses:
  • Early and amateur investors that own small to large volumes of crypto but remain unaware of how to manage their assets safely, securely and are ill-prepared to handle taxation or accounting for themselves.
  • The growing list of coins and digital assets continues to rise, and this is accompanied by constantly changing valuations and speculation. For amateurs and even professional investors, there are very few capable tools for tracking assets.
  • Technology is regarded as the savior of crypto-asset tracking and management, yet most investors are either unaware of available tools, nor do they feel the need to leverage such solutions. This creates challenges for accounting and tax professionals.

Early birds don’t know how to catch the worm

When most new cryptocurrency investors begin to get involved it is usually with the help of a more experienced friend or organization that helps to guide them along the process. Yet, the guidance abruptly ends at the most crucial point. New investors may now have their first bitcoin that is stored in their crypto wallet - but where do they go from there? How can they begin tracking the value of their assets?
The onboard process into crypto is not deemed simple, and once inside, there is still a distinct learning curve for these rookie investors. However, these can be anyone from young teens, to highly intelligent but less tech-savvy individuals. Both require easier means to access, track and manage their new crypto assets. Now as these investors begin to buy more coins, from more places, this problem only compounds into more complex webs of crypto assets, coins, portfolios, wallets and more. A conundrum in need of technological solutions.
We will save this for later, but most of these early or new investors may not even realize that the most important component of successfully tracking your cryptocurrencies is the ability to be prepared when it comes to tax season, as those who neglect to pay, will start to face the wrath of the IRS.

More crypto coins, more crypto problems

According to CoinMarketCap there are over 1,600 different crypto coins in existence. Moreover, there are over 300 cryptocurrency exchanges worldwide for buying, selling or trading crypto. Without including crypto wallets, crypto ATMs, crypto mining operations and dozens of other verticals, it's easy to understand the sheer volume and range of digital crypto assets that people can own.
While the allure of owning a deluxe crypto portfolio is nice, it can also create intricate crypto accounting and tax challenges, especially for new or inexperienced investors. For businesses, they too face the same challenges but with an even larger burden and cost to account for. The volatile swings of value based on speculation mean prices rise and fall all the time - but when you need to track your assets or calculate your profit & loss, that deluxe portfolio for an investor is a nightmare for their accountant or tax practitioner.
To better understand, the Blox Crypto Accounting Report found that most CPA’s were suffering to effectively do their job due to lack of completed reports, historical records, and a wild web of crypto activity, transactions, and asset movement.
submitted by CryptoHamstereu to u/CryptoHamstereu [link] [comments]

Buying in China and selling in USA. The New American Dream | My Story

Hi entrepreneur I've followed this sub for quite a while, I enjoy the (rare) good posts, and I'd like to tell my story and hope you takeaway some useful knowledge. I was a 2009 college graduate, so I didn't even have a chance to join the workforce in any meaningful way. Entrepreneurship is just natural to me and I hope I can sustain it over a lifetime
My entrepreneur journey began selling football tickets during college at U of Florida. Imagine an 18-year old white kid standing next to the veteran scalpers and hawking tickets. It was the best experience I could imagine. I think of it as rejection therapy Learning to not be afraid of a 'no' is a very important part of being an entrepreneur. After college, I started buying and selling tickets online using TicketMaster and Stubhub. Selling tickets could be its own thread, it's such an interesting space. There are fortunes being made buying tickets to in-demand events online. It's just rather tedious (imagine entering 50,000 captcha phrases a year) Also, scalping tickets online doesn't provide 'value' to anyone. I read the domain parking thread today and it makes me proud to be making money by delivering value, not withholding it for profit.
I grew tired of tickets and decided to visit a friend in China. I stayed for 6 weeks and bought some watches to bring back for gifts. One watch was especially cool and people asked about it everywhere I went. I got back in touch with my friend in China (who was just teaching English at the time) and he traced it back to a supplier. I thought I needed an investopartner so I contacted the only rich guy I knew and he gave me $4,000 to be my 50/50 partner. I ordered 800 watches for $3 each, and paid some guy $3,000 to make me a website.
Lesson 1 DON'T SPEND MORE THAN $300 ON YOUR FIRST WEB PRESENCE
I scrapped that site in less than a month and built my own on Shopify. If you can operate your facebook page, you can setup a Shopify account, it's stupid easy. I set the price at $65.
Lesson 2 PRICE HIGH
It gives you so many advantages. Better customers, less returns, room for wholesale/distributors, and a higher perceived value. Anyway, I created a fun brand around this. We did fun photoshoots, ran contests in the community (facebook ads were really cheap back then), and we really gained some customers. In a stroke of good luck, I got in touch with a Groupon rep and they agreed to run a deal for my watches. I was one of the first products to run on Groupon. (Remember, Groupon was mainly for services like spas and meals at the time) This went well initially, and they slated me for a Black Friday national deal. They sold 7,000 of my 'deals' in 3 days. Turns out my supplier back in China was just a trade company, and he couldn't pull off a deal of my size on his 'credit' He almost completely screwed up the whole deal, and it was literally one of the lowest points of my life. In the end, I fulfilled about 70% of the orders successfully, and the other 30% basically told me I ruined their Christmas and got refunds. Funny thing was, Groupon still paid me out the entire amount even though there were almost 2,000 really upset customers (an omen that Groupon did not have their house in order and had their own crash coming) This company was called TIKKR by the way. The site is still up but I'm not really in business anymore. I might try to revive it someday. But I could see the writing on the wall. There were at least 50 companies I knew of that sold the exact same watch, including Walgreens which sold it without a brand name for $4.99. I dropped my price and got what I could out of it, but I needed a new idea. Also I had returns and warranties like mad and it cost me a ton of cash, the watches were just cheap...
I honestly don't remember how it came about, but I became aware of bamboo sunglasses being a thing. I was approached by my China friends to start something together. We were hanging out in Chicago that summer (2012 I think) which happened to be Groupon headquarters. I had a friend who worked there, and he got me access to their sales floor so I just kind of hung around and bothered people until I found the girl who sold fashion accessories.
Lesson 3 To get that big break, sometimes you just have to hang around until something happens to you. Not sure if that really qualifies as a legit 'lesson' but whatever.
I got her to agree to run us on a national scale. She told us to prepare 10,000 units for sale. I don't know how, but we got $180,000 together between 3 partners . The China guys, the Groupon insider, and me. (Actually I do know how, I used my TIKKR money with a big boost from Bank of Mom. Hi mom!) The China guys handled production, I handled branding, marketing, and everything else and the Groupon guy was the Groupon guy. I came up with Woodies (and I even bought Woodies.com for $4,000 from some Canadian dude who was selling hockey stick chairs) The idea came from the old Woodie station wagons where the frame was made from wood. I rented a few cars for the photoshoots I was obsessed with Ashley Sky at the time and I had the crazy idea to hire her for a photoshoot. I contacted her people and to my amazement, she was only like $600 for a day and she had 100k instagram followers! I figured we would make that money back with one post from her. The Groupon sale went live and we sold like 4,000 instead of 10,000.
Lesson 4 Be optimistic in general, but be realistic when it comes to forecasts.
I can't remember how many times I had a deal setup where I was like, yea I'm going to pay off all my student loans with this deal. It was usually mildly successful, but after all the bills were paid off, I wasn't as far ahead as I thought I would be. It reminds me of the Old Man and the Sea. You land this HUGE deal, but by the time you drag it to shore, a bunch of little things have brought it back to size. Overhead, customer service time, returns/warranties, new orders, customs fees, shipping really add up. So with that 'poor' sales showing, the China guys ran into their own cash-flow problems. Groupon guy and I were forced to buy them out basically. But we had a real business with real customers and we were rolling. We now had $140,000 capital base after paying off the China guys, not enough for a big order, so I noticed Kickstarter was really blowing up, and thought I could bridge our cash-flow with a blockbuster kickstarter campaign. This is where things get pretty interesting. I got it in my head I wanted to hire Kendall Jenner for this campaign. Somehow I tracked down her modeling agency and eventually her direct manager. They quoted me $100,000 for the day. I created a Pinterest board and sent it to her and asked if she would do it for $25,000 plus a bunch of incentives and they said YES! I was completely thrown off and not sure what to do. I ran some projections and thought that I could make up most of that money if we raised a lot of kickstarter money. I hired Ashley Sky, Damaris Aguiar, Kendall Jenner, Aygemang Clay, Lyall Aston photographed it, Sagette Van Embden videoed it, Lina Palacios styled it, Mary Guthrie was hair and makeup. It was a giant production. I couldn't believe it. I flew everyone out to Malibu, CA using Southwest Airlines buddy passes! Imagine Ashley Sky and Damaris Aguiar (so hot) standing at the Southwest ticket counter like wtf is standby? I'm over here sweating bullets hoping we don't get stuck in New Orleans and I look like a fraud. Actually I fought those type of feelings a lot during this period.
Lesson 5 Don't ever put yourself down.
Entrepreneurship is a crazy, improvisational dance. Sometimes I would look around at my competition and think they had it figured out, they were following a plan, they were 'professionals' and I was just doing my best to pretend. That's BS, we're ALL making it up as we go! Don't put this process on a pedestal, fake it til you make it! Anywho, I rent out a Malibu HQ using Airbnb and rented a van for the day. I still can't help but laughing when I remember this scene: I'm driving a large van with Kendall Jenner, Ashley Sky, Damaris Aguiar, and some bros, in the mountains of Malibu, I'm driving kind of fast around the curves because we're late for the call time I set for us. I'm wearing a captain's hat because that was my thing during that time. and Kendall's manager scolded me for taking the turns too fast. Fun times
Here is how the campaign turned out
So, I got Kendall to agree to Instagram/tweet/facebook the kickstarter campaign, but what I didn't realize is kickstarter is not mainstream and it just didn't convert. I raised like $30,000 in revenue against a cost of like $70,000. I can't say whether I would do it again given hindsight. It has led to great brand recognition because Kendall has kind of blew up and become a mega celebrity. AND her management let me write that contract so I have rights to those photos forever. One tweet by her got me close to 20,000 email subscribers which has been a stream of income ever since. (Shoutout Mailchimp!) *Monkeyrewards fyi Since then, I've been trying to come up with new designs, build on the brand, and leverage the list that came from Kendall Jenner's gravity to make sales. It's pretty seasonal, coming mostly during the summer and Christmas season. I have some big plans for 2015, but I have to keep them quiet for the time being, maybe there will be a follow-up post this next year
All that was a year ago and Woodies has had some good times and some slow times. I got into wood watches which have been really good sellers. I started selling on Amazon *affiliate, which has been a great boost to the bottom line.
Keep in mind that during this whole time I barely took a paycheck, and moved back in with mom in Tulsa, OK during a dry spell. I don't spend a lot of money, I have zero savings (except for a few Bitcoins) I actually travel most of the year, I'm in Thailand right now writing this to you. So to summarize, I've been an entrepreneur for a long time, and my success is best characterized by a few BIG wins, and mostly small, gradual losses. In between, my life has been great, I get to travel, work remotely, perform autonomous, creative work, do photoshoots with hot models, and learn a lot about myself and the world around me. I wouldn't trade it back and I'm optimistic about he future
Tech that makes all this possible:
Shipwire & Amazon FBA (Amazon FBA > Shipwire if you're wondering)
All Google Products: Gmail, Google Drive, Google Forms, Analytics
Xero for accounting
Shopify for e-commerce
[Fiverr](Fiverr.com) to boost online reviews
Alibaba for finding suppliers. Once you find them, visit them, and invest in a relationship with them
Mailchimp for Email marketing (the best thing going in my opinion)
Flexport for freight forwarding, definitely changing the game
Other takeaways:
Wholesale business and international shipping are both great if you like to waste huge amounts of time chasing small amounts of money. Stick to domestic until you're really big-time.
Never commit to big upfront costs. Always start small and test
Have a solid accounting system and data management system. It'll come in handy when you need it
I've got to shout out my friend and one-time employee Joanna (she just started OnceBitten ) I was rarely as productive as when I had someone else keeping me accountable and adding great ideas and hard work to the process. I guess the lesson is if you're going to hire somebody, make sure they're really, really good and pay them well
Things I haven't quite solved yet:
Customer Service management (I hate answering emails for real)
Taxes
CRM like Salesforce or something (is this necessary guys?)
I could go on, but I think this is enough. If you're still reading this, I'll answer questions if anyone wants to ask about business in China, solo-travel, branding, ecommerce, etc I'm not an expert in many things, but I know a little bit about a lot
See you at the Beach!
Cory Stout, Owner Woodies
A couple shout-outs: My other entrepreneur homies doing big things! RevelryDresses(group orders of sorority dresses)
OtisandEleanor(bluetooth speakers from bamboo)
OriginalGrain(wood watches, prob better than mine :) )
edit: Just want to say I'm enjoying hearing from you all. I'm doing solo travel right now, so it's nice to connect with other entrepreneurs out there
submitted by sigmaschmooz to Entrepreneur [link] [comments]

Stop using 100x leverage like DEGENERATE GAMBLERS! (How to Margin Trade RESPONSIBLY) Leveraged Bitcoin Trading with AVATrade How to Trade Bitcoin with Kraken using Leverage - YouTube How to Trade Bitcoin With Leverage (the Right Way) Met Leverage Traden op Binance  Doopie Cash  Bitcoin & Crypto

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Stop using 100x leverage like DEGENERATE GAMBLERS! (How to Margin Trade RESPONSIBLY)

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