In September, this decentralized exchange (DEX) overtook Coinbase in trading volume:
A) UniswapB) AaveC) CompoundD) Both A and B Scroll down for the answer.
Ranking and September Winners and Losers
2020 Top 10 Rank Lots of movement this month: six out of the Top Ten changed positions in September. BCH climbed one from #6 to #5 and BNB made a big move from #10 to #6. Going the opposite direction were BSV, EOS, and Tezos, dropping one, two, and four places respectively. The big story though, at least for anyone who’s been watching crypto for a while, was the ejection of Litecoin from the Top Ten. In just 30 days, LTC fell five places from #7 to #12. For some context, Litecoin’s absence from the Top Ten is a Top Ten Experiment first. It is also the first time since CoinMarketCap has tracked crypto rankings that Litecoin has not has not held a spot in the Top Ten. Drop outs: after nine months of the experiment, 30% of the cryptos that started 2020 in the Top Ten have dropped out. LTC, EOS, and Tezos have been replaced by ADA,LINK, and most recently, DOT. September Winners – Winner, singular: BNB was the only crypto to finish in the green, finished up +25% for the month, and gained four places in the rankings. A very good month for Binance Coin. September Losers – Tezos was the worst performing crypto of the 2020 Top Ten portfolio, losing nearly a third of its value, down -31% for the month. LTC also had a bad month, losing -24% and dropping out of the Top Ten. Since COVID-19 has hammered the sporting world, let’s be overly competitive and pit these cryptos against each other, shall we? Here’s a table showing which cryptos have the most monthly wins and losses nine months into the 2020 Top Ten Crypto Index Fund Experiment: Wins/Losses ETH is in the lead three monthly Ws, followed by Tether and Tezos with two wins each. Even though it is up +79% since January 1st, 2020, BSV has the most monthly losses: it has been the worst performing crypto of the group four out of the first nine months in 2020.
Overall update – ETH maintains strong lead, followed by BNB. 100% of Top Ten are in positive territory.
Ethereum remains firmly in the lead, up +187% on the year. Thanks to a strong month for BNB and a weak month for Tezos,Binance Coin has overtaken XTZ for second place, and is now up +109% in 2020. Discounting Tether (no offense Big-T), EOS (+4%) is the worst performing cryptocurrency of the 2020 Top Ten Portfolio. 100% of the cryptos in this group are in positive territory.
Total Market Cap for the cryptocurrency sector:
The overall crypto market lost about $35B in September, ending the month up +85% since the beginning of this year’s experiment in January 2020. Despite a rough month, this is the second highest month-end level since the 2020 Top Ten Experiment started nine months ago.
Monthly BitDom - 2020 BitDom ticked up slightly this month, but is still lower than it has been for most of the year. As always, a low BitDom reflects a greater appetite for altcoins. For context, the BitDom range since the beginning of the experiment in January 2020 has been roughly between 57% and 68%.
Overall return on investment since January 1st, 2020:
After an initial $1000 investment on January 1st, the 2020 Top Ten Portfolio is now worth $1,536, up +56%. This is the best performing of the three Top Ten Crypto Index Fund Portfolios, but not by much: the 2019 Top Ten came in at +54% in September. Here’s the month by month ROI of the 2020 Top Ten Experiment, hopefully helpful to maintain perspective and provide an overview as we go along: Monthly ROI - 2020 Top Ten Even during the zombie apocalypse blip in March, the 2020 Top Ten has managed to end every month so far in the green (for a mirror image, check out the all red table you’ll find in the 2018 experiment). The range of monthly ROI for the 2020 Top Ten has been between a low of +7% in March and high of +83% in August. So, how does the 2020 Top Ten Experiment compare to the parallel projects?
Taken together, here’s the bottom bottom bottom line for the three portfolios: After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, the combined portfolios are worth $3,340 ($238+ $1,538 +$1,564). That’s up about +11% for the three combined portfolios, compared to +31% last month. Here’s a table to help visualize the progress of the combined portfolios: Combined ROI - UP +11% That’s a +11% gain by buying $1k of the cryptos that happened to be in the Top Ten on January 1st, 2018, 2019, and 2020. But what if I’d gone all in on only one Top Ten crypto for the past three years? While many have come and gone over the life of the experiment, five cryptos have started in Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC (Big L, no pressure, but if you don’t claw yourself back in the Top Ten by January 2021, you’re out of the club). Let’s take a look: Three Year Club At this point in the Experiments, Ethereum (+104%) would have easily returned the most, followed by BTC (+77%). On the other hand, following this approach with XRP, I would have been down nearly a third at -31%. So that’s the Top Ten Crypto Index Fund Experiments snapshot. Let’s take a look at how traditional markets are doing.
Comparison to S&P 500
I’m also tracking the S&P 500 as part of my experiment to have a comparison point to traditional markets. The S&P slipped a bit from an all time high in August and is now up just +5% in 2020. Over the same time period, the 2020 Top Ten Crypto Portfolio is returning about +56%. The initial $1k investment in crypto is now worth about $1,563. That same $1k I put into crypto in January 2020 would be worth $1050 had it been redirected to the S&P 500 instead. That’s a $513 difference on a $1k investment, one of the largest gaps in favor of crypto all year. But that’s just 2020. What about in the longer term? What if I invested in the S&P 500 the same way I did during the first three years of the Top Ten Crypto Index Fund Experiments? What I like to call the world’s slowest dollar cost averaging method? Here are the figures:
$1000 investment in S&P 500 on January 1st, 2018 = $1260 today
$1000 investment in S&P 500 on January 1st, 2019 = $1350 today
$1000 investment in S&P 500 on January 1st, 2020 = $1050 today
So, taken together, here’s the bottom bottom bottom line for a similar approach with the S&P: After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,660. That $3,660 is up +22%since January 2018, compared to a +11% gain of the combined Top Ten Crypto Experiment Portfolios over the same period of time. That’s an 11% swing in favor of the S&P 500 and breaks a two month mini-streak of wins from the Top Ten crypto portfolios. For those keeping track or unable to see the table above: that’s seven monthly victories for the S&P vs. two monthly victories for crypto. The largest gap so far was a 22% difference in favor of the S&P back in June.
September saw losses for both traditional and crypto markets, but crypto got hit harder. What can we expect for the rest of 2020? The Neverending Year is entering the final quarter and is not finished with us yet: a lot can and will happen in the remaining months. More volatility is no doubt to come as we enter the final stretch of a truly unpredictable and exhausting year. Buckle up. Stay healthy and take care of yourselves out there. Thanks for reading and for supporting the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for the original 2018 Top Ten Crypto Index Fund Experiment and the 2019 Top Ten Experiment follow up experiment.
https://preview.redd.it/8ual3ajbcey51.png?width=1000&format=png&auto=webp&s=4101b150f171882152e58bff7a2fb6665f083312 The cryptocurrency market is heating up again in 2020 and the options available for New Zealand Bitcoin traders for where to trade at are more diverse than ever before. Now as well as local platforms, there are a number of international platforms that have been breaking into the New Zealand crypto market for the past few years . We're taking a look at the best Bitcoin platforms for New Zealand traders in 2020, starting with a look at the state of the New Zealand market, before moving on to looking at the international market and its impact this year, and then finished off with a look at the best Bitcoin platforms for New Zealand traders. What is the State of the New Zealand Market? Following the last bull run that ended in December 2017, global crypto markets went through a devastating 2-year bear market that saw prices crash throughout that period. As with the rest of the world, the New Zealand market was no different and also saw large numbers of traders and investors leave the market as they suffered huge losses. However in 2020 there has been renewed hope that there is a new bull run forming globally, with this seeing the New Zealand market expand rapidly throughout the first half of this year. New Zealand Using International Platforms More Often in 2020 One trend that has been seen this year is that New Zealand traders and investors are turning towards international trading platforms that are offering higher trade volumes and more opportunities in comparison to the local counterparts. This is something that has been seen globally and not just within New Zealand, where international trading platforms are moving into many different markets around the world and are growing rapidly as a result. 2020 certainly has been a year for international trading platforms to make a lot of headway into the New Zealand market, with many cryptocurrency users turning towards them this year. New Zealand Positioned to Become a Global Hub for Cryptocurrency Something that has become clear over the last year or two is that New Zealand is now positioning itself as becoming one of the new global hubs in cryptocurrency. In 2020, there are more traders and investors within New Zealand than ever before, with this being largely as a result of the greater exposure of cryptocurrency this year in comparison to others. As trade volumes and the number of users in New Zealand grow, we are seeing more international platforms turn their attention towards New Zealand and the opportunity that presents. What are the Best Bitcoin Platforms for New Zealand Traders?
https://preview.redd.it/ydkcghbdcey51.png?width=1000&format=png&auto=webp&s=3386dba81a45a8aca4315cc56bedbfbfdd47021e PrimeXBT is the world's largest multi-asset margin trading platform and has grown rapidly over the past few years since it's launch in 2018 to today managing up to $3.6 billion worth of global trade each and every day. PrimeXBT provides advanced security features such as hardware security modules with rating of FIPS PUB 140-2 Level 3 or higher and cloudflare to mitigate potential distributed denial-of-service (“DDoS”) attacks, with this ensuring that the platform has never been hacked or breached by hackers. PrimeXBT also offers the lowest fees of any major cryptocurrency trading platform on the market with a low flat rate of just 0.05% applied to all trades, irrespective of the assets being traded or of the size of the trade.
https://preview.redd.it/9x21cyjecey51.png?width=460&format=png&auto=webp&s=fda9e744ae932c2ac093ca74f42ee41d9eab0d99 Binance is another platform that has grown rapidly in the past few years since its launch, with this being as a result of Binance offering a wide range of cryptoassets to trade. Binance provides an intuitive platform to use in order to interact with global cryptocurrency markets, and also provides a range of powerful tools and features as well. Binance does charge significantly higher fees than many other trading platforms, and for example, Binance charges anywhere up to 5 times as much as PrimeXBT in order to trade, with this being an important consideration to take into account. In Summary In 2020, we have seen New Zealand traders and investors moving towards using international trading platforms as they become more prevalent and as the services that they provide become significantly more advanced than other platforms. Two good examples of this are the growth of PrimeXBT and Binance within the New Zealand market, with this growth being mirrored in many different areas of the world in 2020 as well. To learn more about PrimeXBT and Binance, the features and tools they both provide, and the advantages of using these top-tier international platforms in the Bitcoin and cryptocurrency markets, check out PrimeXBT and Binance.
Monthly Nano News: December 2019 + Year Recap Special
This is what NANO has been up to lately. I don't think I lie if I say it has been quite an amazing year! See you soon and happy new year! Something nice is coming soon that I have been working on for a while, stay tuned..
Useful Info: MTI official URL Link: ➡️https://mymticlub.com/ Click on ‘Member Login’ Bitcoin Mirror Trading UK Invite Link (Telegram) ➡️ https://t.me/joinchat/AAAAAFac2S2fqT_FFJ6ZoA Official MTI Telegram Group ➡️https://mymticlub.com/telegram Official MTI Youtube Link ➡️ https://www.youtube.com/channel/UC96zVhuCPm83_HwGTJZ3x0A Bitcoin Mirror Trading UK Facebook Invite Link ➡️ https://www.facebook.com/groups/278604083278752/?ref=share Bitcoin Mirror Trading UK Subreddit Link ➡️ https://www.reddit.com/MTIUK/ Useful Info: WHERE DO YOUR FUNDS GO? When you add funds to MTI, the BTC you sent to MTI's BTC Wallet physically gets sent to the BROKER to be traded and remains there until you request a withdrawal to your BTC wallet. ⚠️ Remember, no funds are ever physically in the backoffice - the backoffice just REFLECTS the funds you have and allows you to request the movement thereof. ACTIVATION WALLET All BTC Deposits come into your MTI account via the Activation Wallet but gets AUTOMATICALLY transferred to the Trading Pool. P2P transfers from another member's account come into your account via the Activation Wallet but ... ❌ does NOT automatically go into the Trading Pool which means it will NOT be traded until you ... ✅ MANUALLY move it to the Trading Pool. TRADING POOL Only approved BTC Deposits from external BTC Wallets and Daily Trading Bonuses get added automatically to the trading pool. ⚠️ Note: ONLY the funds that are in the Trading Pool will get traded. INCOME WALLET ALL bonuses earned from referring members and building a team, ie. Referral Bonuses, Binary Bonuses and P1/P2 Leadership Bonuses go to INCOME WALLET - it does NOT automatically get added to the trading pool. Referral Bonuses (allocated when your direct referral makes a qualifying deposit) and Binary Bonuses (allocated weekly on Saturdays) have a 7 day waiting period and will reflect in your income wallet's pending balance and after the 7 day waiting period will appear in your income wallet's available balance. P1/P2 bonuses are paid each Saturday and are available immediately and will reflect in your income wallet's available balance. ⚠️ Note: Funds that are in the Income Wallet will NOT be traded, which means it is NOT growing unless it is in the Trading Pool. Whatever is in the available income wallet balance can be: ✅ manually transferred to Trading Pool to grow ✅ transferred to another member via P2P ✅ withdrawn to BTC wallet to be spent, sold or deposited back into MTI 🤑 WALLET TRANSACTION HISTORY All bonuses earned and movement of funds can be seen as "journal entries" under Wallet, Wallet Transaction History. EXCHANGES HOW TO's:
White Paper, Miner, Pizza … | "Old Objects" in the Cryptocurrency Museum
https://preview.redd.it/giu1ssilga151.jpg?width=900&format=pjpg&auto=webp&s=41510785ccdc0d99544ec74229f62427d1c0ce3e Museum has played the role of a time recorder. Talking about bitcoin, more than ten years has passed since the creation of it. Although it is uncomparable to the stock market with a hundred years of history, during the ten years, in the different stages of the development of bitcoin and blockchain have continuously poured in geeks, miners, speculators, newbies, leaving keywords such as sudden rich, myth, scam, belief, revolution, etc. There are also many “old objects” with stories in the “Museum” of the cryptocurrency realm. On Museum Day, let ’s review the stories brought by these “old objects”. The First Digital Currency White Paper — Bitcoin White Paper On Oct. 31, 2008, Satoshi Nakamoto released the Bitcoin white paper — A Peer-to-Peer Electronic Cash System in the cryptographic mail group where he belongs, and Bitcoin was born since then. A white paper is a document that explains the purpose and technology used in cryptocurrency. Usually a cryptocurrency uses the white paper to help people understand what it provides, and it is also an important information channel for investors to understand a project. Therefore, the level of the white paper affects people’s confidence towards the coin. In a word, in the cryptocurrency and blockchain industry, the value of a white paper is equivalent to that of a standard financing speech. The white paper plays a vital role in this emerging market. The First Public Bitcoin-Physical Transaction — Pizza Since Satoshi Nakamoto mined the Bitcoin genesis block on January 3, 2009, Bitcoin has only been spread among the small crowd and has not realized its value. Not until May 22, 2010, Bitcoin enthusiast “Laszlo Hanyecz” bought a pizza coupon worth $25 with 10,000 bitcoins. This is the first public bitcoin-physical transaction. Bitcoin has its price with 0.3 cents per bitcoin. This day has also become the famous “Bitcoin Pizza Day” in Bitcoin history. Bitcoin as the imagination of the financial system has more practical significance. The tenth anniversary is coming. How will you commemorate it? Will you buy a pizza? The First Digital Asset Exchange — Bitcoinmarket.com After the birth of Bitcoin, in addition to mining, the only way to get Bitcoin in the early days was to conduct transactions on forums or IRC (commonly known as Internet Relay Chat). However, this method involves both long transaction time and great security risk. In March 2010, the first digital asset exchange — Bitcoinmarket.com launched. However, due to lack of liquidity and transaction depth, it disappeared soon after its establishment, but Bitcoinmarket.com opened the era of the operation of the cryptocurrency realm exchange 1.0. On June 9, 2011, China’s first Bitcoin exchange — Bitcoin China (BTCChina) launched. Its founder, Yang Linke, translated Bitcoin into Chinese “比特币” for the first time. In 2013, China’s bitcoin trading entered the golden age, and exchanges sprung up. China monopolized more than 90% of the world’s bitcoin transactions. Now, if the top three exchanges Binance, Huobi Global, OKEx are the Exchange 2.0, then the index exchange represented by 58COIN called the 3.0 version, leading the trend. The First Generation of High-Performance Miner — ASIC Miner When Satoshi Nakamoto created Bitcoin, the only way to get it is to use computers (including home computers) to mine, mainly relying on the CPU to calculate. However, as the value of digital currencies such as Bitcoin has become higher and higher, mining has become an industry with the competition is getting fiercer, accompanied by increasing difficulty of mining. Therefore, hardware performance competition starts. In July 2012, the genius Jiang Xinyu (Internet nickname is “Friedcat”) from the junior class of the University of Science and Technology declared at the forum that he could make ASIC miners (chips). As far as mining computing power is concerned, ASICs can be tens of thousands or more higher than the same-generation CPUs and GPUs. At the beginning of 2013, Zhang Nanqian (Pumpkin Zhang), a suspended doctoral student from the Beijing University of Aeronautics and Astronautics, developed the ASIC miner and named it “Avalon”. In June 2013, the Friedcat’s miner USB was finally released, and it maintained 20% of the computing power of the entire network. At the end of 2013, Wu Jihan, used the tens of millions yuan earned from Friedcat through investment, worked together with Jenke group, to develop the Antminer S1. Since then, the miner manufacturer Bitmain began to enter the stage of history. It is no exaggeration to say that Friedcat and Zhang Nangeng have opened the domestic “mining” era. The Birthplace of China’s Bitcoin — Garage Coffee It is not only the “old objects” that record history, but also a place that everyone in the cryptocurrency realm aspires to. Guo Hongcai once said, “Without no The Garage Café, there will be no cryptocurrency realm today. Since it is a very mysterious place that all waves of people from the café joint together to create today’s digital asset industry. ▲ In March 2013, American student Jake Smith successfully purchased a cup of coffee at The Garage Café with 0.131 bitcoins. This move attracted the attention of CCTV, and it conducted an interview. Indeed, The Garage Café is the world ’s first entrepreneurial-themed coffee shop. It has been legendary since its establishment in 2011. The Garage Cafét is not only the core coordinate on China’s Bitcoin map, but also the birthplace of the Chinese cryptocurrency circle, where digital asset realm tycoons including Guo Hongcai, Zhao Dong, Li Xiaolai, Li Lin have made their ways. The development of digital currency is only 11 years old. Through these “old objects”, we review the various stories of this wave of technology together, hoping to help you understand the development process of the digital currency field. Meanwhile, I also remind all practitioners to use history as a mirror and forge ahead. Website: https://www.58ex.com/ Twitter: https://twitter.com/58_coin Facebook: https://www.facebook.com/coin.58COIN Telegram: https://t.me/official58 Medium: https://medium.com/@58coin_blog/
A REMINDER = why BSV is being delisted by the exchange community
this is what mr CSW ( the wanna be satoshi ) was saying to roger ver ... ( nov 2018 , before the fork ) . CSW and CAYRE were nothing but saboteurs and terrorists we , the community , acted patiently and saw the price of BCH plummet thanks to CSW and CAYRE selling to scare the investors. they did financial harm to bitmain by crashing the price. yet, we as community , stuck on and took it all and never complained ,, "" CSW's email to RVer https://ethereumworldnews.com/craig-wright-to-roger-ver-you-are-my-enemy-you-have-fcking-no-idea-what-that-means/
“If you want a war…I will do 2 years of no trade. Nothing.In the war, no coin can trade.If you want ABC, you want shitcoins, welcome to bankruptcy.It was nice knowing you.Bitcoin will die before ABC shits on it. I will see BCH trade at 0 for a few years. Will you?Side with ABC, you hate bitcoin, you are my enemy. You have fucking no idea what that means.You will.I AM Satoshi. Have a nice life. You will now discover me when pissed off.And, no. You Could have had proof. Your choice.Fuck you,Craig” ""
this is nothing but sick , psycho behavior . the lawsuits are nothing but hollow threats to smear and harrass respected industry leaders like ver etc . CZ binance and other exchanges have done the right thing here and shown this scammer the mirror. you sow what you reap ... RIP BSV
The Market will not recover the way you want it to.
Hey guys, long time lurker, first time poster to CryptoCurrency. I've been giving Crypto a lot of thought, and had a good look at myself in the mirror when btc started nosediving from 11k. At that point in time I thought 11k was the bottom, and tried to catch a falling knife. Recently, I took a break from looking at the graphs daily, because I realized my mood would always be affected by the giant red bars on my phone. So I deleted my Binance app. Since then I've had time to reflect on Crypto, reflecting on what enthralled me when I first got in. I came to several conclusions. It has completely changed my outlook and re-adjusted my expectations on crypto-currencies in general. Since then, I have cleared away my desire for the green bars, and my misgivings that this is something that would make me the Laurens Bancroft of the 21st century. What came in to replace these thoughts are below, shared with you. 1) Herd mentality hurts us more than it hurts them. I come in contact with 3 kinds of people in my life, and these can be categorized into 3 different groups: People who want to see Crypto succeed, people who don't, and people who don't care about Crypto. I was part of the initial group at first, and now I've come to realized that in order for Crypto to succeed, we cannot exclude the people who don't care, and the people who don't want Crypto to succeed. They are an integral part of how Crypto is going to make it in this world, and we cannot ignore them. We cannot be an elitist club of people who think ourselves as a Master-race that will eventually trump all. I came to this conclusion during Chinese new years, at a dinner table with relatives. The conversation slowly swung around what all of us had achieved during the year of 2017, and I had said that I was an avid follower and investor of Cryptocurrency. My relatives were shocked. Some of them tried to dissuade me from investing, others listened with interest with what I had to say. It was then I realized a common denominator among them, it was that they don't understand. They don't understand how blockchain can change our world, they don't understand how block-lattice technology has the potential be the ultimate weapon against corruption, they don't understand how Cryptocurrency can bring humanity to places never ventured before. But they are interested. Over the period of the dinner I slowly but surely watered the plant that is now their newfound interest, answering questions to the best of my ability, but at the same time not critiquing their beliefs. I do not talk about the banks, I do not talk about politics, I talked about the wonders of Bitcoin, and the benefits that can be had with it. 2) Adoption incentives. Unlike many of the inventions that have come to advance humanity, the benefits of Cryptocurrency cannot be felt by myself, or by you. Not in the short term anyway. The effects of Crypto will not be felt in a drastic way, but instead, gradually change events that were normally out of our control. We humans adopt things quickly if they are either one of 2 things, they improve our standard of living immediately(e.g getting a car or computer), or provide an immediate incentive(e.g. credit card frequent flyer points). Crypto is neither of them, and that is why it is a long uphill battle to convince someone to take on Crypto, when all it seems to do is add on more trouble for them. Being centralized has a thing going for it; few people can make decisions to create incentives for a small loss, in order to exploit an even bigger gain. In Crypto, no one is able to do this, and won't be able to without a centralised figure making decisions for us small guys. No one seems to have a viable solution to this, which brings me to my 3rd point. 3) Moon boys. We all want to be on the ride to the next moon, the FOMO is strong, the memes sustain us, and every piece of news directly affects whether we see a red bar or a green bar. Now the feeling is subsiding, and all that is left is pump and dumps that out of our control. As a normie that doesn't have the power to control these events, I can only watch as the price gets manipulated. But this is what I signed up for. I believe that I'm not just holding an ordinary piece of money. I'm holding the future. I am holding the blood, the sweat and the tears of thousands that came before and thousands that will come after, because I believe in them, I believe in the idea, and most of all, I want that future, for me and for my descendants that will come after me. This isn't just about me, it's about advancing mankind. I believe in a future where Crypto will make the world a fair place for all, a world where corruption and power don't belong to someone we are forced to vote for, that my voice can be heard among the billions. Crypto doesn't align with my monetary objectives anymore, it aligns with me politically. This leads to my conclusion. I know that the recent drops have hurt us all, but it's time to look past it. I think it is time to look at what we are holding on to. Is it for the money? Is it the stubbornness? Are we truly here just to take fiat from others at a suitable time? If you manage to find your reason for holding on, I think your resolve be will strengthened. I look at my Crypto from time to time, and all I see is the hard work of the people who have created something amazing, and I feel honored to be part of this journey. And I will continue investing as much as I can, be it money or time, to further this project.
Bitshares has gone ahead to the forefront of the battle to regulate cryptocurrencies. The Securities and Exchange Commission has been reviewing Ethereum and Bitcoin to determine what differentiates a crypto token acting as a security. Many crypto exchanges are in a mad rush to submit the proper forms to get SEC approval and some are pulling out of the U.S market completely. The subject of cryptocurrencies as a security, commodity or currency is being debated for many of the top 100 cryptos. In the U.S., regulators like SEC and DOJ are being careful to research and classify cryptos, blockchains, ICOs and exchanges on an individual basis. Enter Dan Larimer, with a clear vision of building towards a massive section of the decentralized exchange market. Legal issues would prove to be nothing if the cryptocurrency exchange is competitive. Bitshares is based on a delegated Proof-of-Stake verification system and the blockchain technology of the network is revolutionary.
Benefits of Bitshares
Transaction speed: Bitshares’ blockchain offers transaction speeds of less than 5 seconds to conclude. Decentralization: The Bitshares exchange is fully decentralized which ensures users are protected. Hacking is impossible and the cryptocurrency is seen as highly reliable. Minimum commission: Bitshares offers special solutions that make transactions in the system very fast and cheap. One of the main goals in the development of the BTS cryptocurrency was to reduce transaction fees. Real value: Bitshares is not like other cryptocurrencies that are not backed by anything. Bitshares comes with the benefits of the trading platform as well as its services. Thus, predicting the value of assets is much easier than for example, Bitcoin. Increased throughput of the system: The trading platform’s technical capabilities allow for more than 10,500 transactions per second. Bitcoin, on the other hand, can conduct no more than 7 financial transactions per second. https://preview.redd.it/ad4s8l7bcnx31.png?width=1080&format=png&auto=webp&s=1c77f313c78114aca4fd0a6f5cbb36a0fa88b00e
Breakdown of BTS
The total supply of Bitshares is 3,600,570,502 BTS with the price peaking on January 2, 2018, at $0.907259. BTS cannot be mined. It is regarded as a legacy coin because it existed long before most exchanges and is responsible for the concept of crypto trading pair. Bitshares is the first delegated Proof of Stake blockchain and is governed by community-elected delegates. Bitshares runs a referral rewards program to drive mass adoption. At the moment, opening a Bitshares account is free, but a lifetime members account costs $100 and comes with 80% fee discounts. Also, lifetime members earn $80 for referring another Lifetime member. BTS coins cannot be mined. Tokens can be created on the Bitshares network and can be converted to BTS, then converted to BitAssets, which are tied to real-world markets. bitUSD, bitEUR, and bitCNY are based on real-world fiat currencies, U.S. Dollar, Euro, and Yuan, respectively. Meanwhile, bitGOLD and bitSILVER are based on gold and silver prices. People in volatile markets such as South America where hyperinflation is rife will enjoy the stability this crypto option provides at a time local fiat currency is struggling.
What is BitAsset?
Online exchanges are centralized and databases are stored on servers only the exchange can control. To use their services, you must first create verified accounts which often involves scanning an ID. Bitcoin and altcoins are still relatively new and this is why they suffer wild swings from time to time. This essentially necessitates converting crypto coins into a stable asset, usually USD. This need is served by exchanges as they allow users to buy and sell crypto coins by converting to and from fiat currencies like USD, EUR, YUAN, and so on. Bishares’ answer to this is BitAsset. A BitAsset is a coin pegged to a real-world asset. Its value is a mirror of the value of the real-world’s asset. For instance, the BitAsset BitUSD mirrors the value of USD. This means BTS can be converted into BitUSD, and BitUSD to BTS without exiting the blockchain.
How to Buy and Store BitShares (BTS)
BTS can be bought and sold on several crypto exchanges which include Binance, HitBTC, Huobi, OpenLedger, CoinEgg, and Poloniex. However, the coin is not offered by many. Most of the active work is done on lesser-known sites. One in particular is zb.com, which executes transactions in the BTS/ZB pair reaching over $600,000 in total. Still, on the same platform, the BTS/USDT pair is traded for only $300,000 in total. More than $5 million BTS is traded every day in trading pairs with BTC, ETH, and USDT. Bitshares can be stored through the official Bitshares wallet.
Difference Between BitShares and Other Cryptocurrencies
The key difference Bitshares has with other cryptocurrencies is that it is based on Delegated Proof of Stake. Other systems utilize confirmation of financial transactions involving miners. However, rather than pay millions to people for this, the BTS team thought differently. Special delegates are called on to confirm financial transactions. These delegates are selected by the holders of the coin. In theory, anyone with a Bitshares account can become a delegate. There are currently 101 delegates in total. Each delegate can sign at most 1% of transactions. For Bitcoin, most financial transactions are confirmed by 4–5 major users. If you aren’t satisfied with your delegate, you can refuse his services and choose another delegate.
Crypto investment can be really profitable, but with profit comes danger. In financial services, transparency is the watch-word, and while the other cryptos aim to redefine banking, BTS is focused on Wall Street. It remains to be seen whether it is a kill shot or they will both learn to live together.
Atomic Wallet Coin is SHOCKINGLY Undervalued ~750k Market Cap
Hey, /cryptomoonshots! Its my first post here (woo!) I’ve been lucky enough to have found QNT and LTO from this subreddit. I’ve found a third project that looks extremely interesting and I’d like to share my research here. My background is in digital marketing and this project stood out to me, especially from a marketing and biz dev perspective, which I’ll share below. Feel free to correct the record if I’ve posted anything incorrect and I will update it (I’m a human being, I make mistakes, okay!) Additionally, the CEO is constantly answering questions on Telegram!
The project is Atomic Wallet Coin. $AWC
Market cap is ~750k at the time of writing this
1 AWC = $0.075
Circulating supply is ~10M
40k active users
Currently only available to trade on IDEX
TL;DR IS AT THE BOTTOM. ALWAYS DYOR. NOT FINANCIAL ADVICE.
WHAT IS ATOMIC WALLET?
Atomic Wallet is a non custodial crypto wallet for desktop and mobile. Users can exchange and buy 300+ cryptocurrencies from a single interface. The wallet can perform cross-chain atomic swaps. It’s an exchange built into a wallet. Shapeshift and Changelly are partnered with Atomic to add additional currency swap pairs + fair rates. Fiat/crypto gateway is supported directly through the app. Atomic has over 40,000 monthly active users and boasts 150k+ downloads. The project is one of the first to migrate over to Binance chain. They are currently in the process of getting listed on Binance DEX. Half of their supply will remain ERC-20 and the other half migrated to BEP-2. https://twitter.com/cz_binance/status/1119047237076541440 https://twitter.com/atomicwallet/status/1119242545706434560 https://github.com/Atomicwallet http://atomicwallet.io
20 FULL TIME EMPLOYEES AND CEO WITH PREVIOUS TRACK RECORD
traffic statistics for atomicwallet.io [pic] Atomic Wallet has an A+ marketing team. Here’s a quick snapshot of how well atomicwallet.io is performing (see above). They’ve gone from 0 to 95k unique visitors per month in well under one year. Purely from Google search traffic. This doesn’t include traffic from Twitter, Facebook, and other sources. It also was during the worst bear market in crypto history, when these search terms would be at a low. Let’s see how Atomic Wallet measures up against some well-known sites: myetherwallet.com 802k/mo Ripple.com 580k/mo Ledger.com 401k/mo Exodus.io 172k/mo Coinmama.com 165k/mo Shapeshift.io 149k/mo Electrum.org 125k/mo Atomicwallet.io 95k/mo Freewallet.org 70.9k/mo Trustwallet.com (Binance owned) 24k/mo Atomic Wallet has virtually caught up to or exceeded many of it’s competitors in terms of traffic in well under a year. Turning this traffic into downloads/new users is child’s play. It’s one of the reasons this company with 20+ employees is already profitable in just a few short months. So, how is this site getting so many visitors? Here are a few search terms that Atomicwallet.io ranks on page 1 for on Google. Open up a new tab, visit Google.com and see for yourself! “EOS wallet” “ETH wallet” “BNB wallet” “Buy Bitcoin” “Ethereum wallet” “XRP wallet” “Ripple wallet” “DASH wallet” +27,100+ additional search terms that bring in a total of 94,700 visitors per month. Purely. from. Google. Search. traffic statistics for atomicwallet.io [pic]
Atomic’s website does a thorough job of explaining the tokenomic details of the $AWC coin. The tokenomics mirror the standard use-cases you would expect from an exchange token (Bibox, KCS, etc.) The CEO recently expressed his interest in adding staking rewards for AWC holders. He is also exploring the idea of having IEO-type listings for Atomic Wallet users/holders in the future. New projects could theoretically debut directly on their platform and be traded against $AWC, similar to how Bitmax runs IEOs. Currently, 90% of the circulating supply is locked up and Konstantin has announced his intention to buy back and burn tokens with company profits. Here are a few of the use cases for $AWC:
Staking rewards for holders
Discount on exchange services
Discount on buying crypto with bank card
Extra features for trading desk service
Dedicated support managers
Payment for coin listings
Affiliate and bounty rewards
The team is looking to make $AWC directly tradeable from the app in the future. With thousands of new Atomic Wallet users per month, this is an incredibly exciting feature. https://atomicwallet.io/token
Atomic Wallet will grow to an active user base in the millions. Every crypto holder needs a wallet. Atomic provides a user-friendly wallet for newbies getting their feet wet in crypto. Most newbs aren’t going out and buying a LedgeTrezor right away. Building an exchange directly into the wallet provides a safe and easy way to trade crypto assets. The number of cryptocurrency users and addresses are growing exponentially. Atomic wallet was created during the bear market. They are perfectly positioned to take a massive share of the increasingly competitive crypto wallet market during a bull market/alt coin season. In my opinion, they’re on track to be the #1 desktop/mobile multi-crypto wallet. As someone who is experienced in search engine/digital marketing, these guys have an ace marketing team. Even beating or ranking just below Coinbase for many competitive Google search terms in just a few short months. I have zero doubts that they will blow past every single one of their roadmap goals, especially as Bitcoin continues to climb in value and more people start buying crypto. Despite short term fluctuations in price, Atomic will continue to onboard thousands of new users every single month. The traffic numbers don’t lie. The Google search rankings don’t lie. Atomic will need to be wise about how they monetize this traffic. The company is already profitable. The CEO is well connected and has proved he is highly competent in creating and successfully running a crypto exchange. I have a lot more info to share about this project if there is interest, I’ll post a part 2 or a follow-up in the comments. A profitable company of this caliber with 20 full-time employees isn’t justified at a ~$750k market cap. https://atomicwallet.io/roadmap-for-2019 https://medium.com/@mccannatron/12-graphs-that-show-just-how-early-the-cryptocurrency-market-is-653a4b8b2720
Market News Another week of impressive price action in the crypto markets as Bitcoin broke above $9000 and continued to trend higher, kicking the weekend off near $9800 and maintaining strong yearly performance amongst a wave of positive crypto news. Binance Coin (BNB) was this week’s largest gainer in the top 10, looking strong with a +14% gain and ending the week near $38. The rest of the altcoin market mirrored the positive crypto sentiment with every coin in the top 10 settling in positive territory. Industry News
Hashrate: went from 54 to 76 PH/s, the low was 50 and the new all-time high is 100 PH/s. BeePool share rose to ~50% while F2Pool shrank to 30%, followed by coinmine.pl at 5% and Luxor at 3%. Staking: 30-day average ticket price is 95.6 DCR (+3.0) as of Sep 3. During the month, ticket price fluctuated between a low of 92.2 and high of 100.5 DCR. Locked DCR represented between 3.8 and 3.9 million or 46.3-46.9% of the supply. Nodes: there are 217 public listening and 281 normal nodes per dcred.eu. Version distribution: 2% at v1.4.0(pre) (dev builds), 5% on v1.3.0 (RC1), 62% on v1.2.0 (-5%), 22% on v1.1.2 (-2%), 6% on v1.1.0 (-1%). Almost 69% of nodes are v.1.2.0 and higher and support client filters. Data snapshot of Aug 31.
Obelisk posted 3 email updates in August. DCR1 units are reportedly shipping with 1 TH/s hashrate and will be upgraded with firmware to 1.5 TH/s. Batch 1 customers will receive compensation for missed shipment dates, but only after Batch 5 ships. Batch 2-5 customers will be receiving the updated slim design. Innosilicon announced the new D9+ DecredMaster: 2.8 TH/s at 1,230 W priced $1,499. Specified shipping date was Aug 10-15. FFMiner DS19 claims 3.1 TH/s for Blake256R14 at 680 W and simultaneously 1.55 TH/s for Blake2B at 410 W, the price is $1,299. Shipping Aug 20-25. Another newly noticed miner offer is this unit that does 46 TH/s at 2,150 W at the price of $4,720. It is shipping Nov 2018 and the stats look very close to Pangolin Whatsminer DCR (which has now a page on asicminervalue).
www.d1pool.com joined the list of stakepools for a total of 16. Australian CoinTreeadded DCR trading. The platform supports fiat, there are some limitations during the upgrade to a new system but also no fees in the "Early access mode". On a related note, CoinTree is working on a feature to pay household bills with cryptocurrencies it supports. Three new OTC desks were added to exchanges page at decred.org. Two mobile wallets integrated Decred:
Coinomiadded Decred to their Android and iOS wallets. In addition to the Apple App Store and Google Play you can download the APK directly. Coinomi features an integrated cryptocurrency exchange and is the first company to offer a mobile Decred wallet.
Reminder: do your best to understand the security and privacy model before using any wallet software. Points to consider: who controls the seed, does the wallet talk to the nodes directly or via middlemen, is it open source or not?
Bit Dialsannounced DCR support via GloBee at their bitdials.eu luxury boutique. Their separate supercar and classic car shop bitcars.eu also accepts DCR, either via GloBee or with manual invoicing in case of privacy concerns.
Targeted advertising report for August was posted by @timhebel. Facebook appeal is pending, some Google and Twitter campaigns were paused and some updated. Read more here. Contribution to the @decredproject Twitter account has evolved over the past few months. A #twitter_ops channel is being used on Matrix to collaboratively draft and execute project account tweets (including retweets). Anyone with an interest in contributing to the Twitter account can ask for an invitation to the channel and can start contributing content and ideas there for evaluation by the Twitter group. As a result, no minority or unilateral veto over tweets is possible. (from GitHub)
Meetup in Puebla City, Mexico, organized by @elian. (photo, slides, missed in July issue)
@joshuam discussed Decred and decentralized organizations with Craig Laundy, Federal Minister for Small Business, the Workplace, and Deregulation with the Australian Government, at @YBFVentures. (photos)
Meetup at @TheBlockCafe in Lisbon, Portugal. @mm presented "Decred 101 - Governance with Skin in the Game" and @moo31337 talked about Decred's 2018 roadmap. (photos: 123)
Meetup in Taipei, Taiwan. @morphymore made a short intro of Decred and noted: "After the talk, many have approached to tell me that they literally don’t hear of Decred until today, and are interested in finding out more about the merit of a hybrid consensus system.". Longer report here, some photos and a video are here.
@eSizeDave introduced Decred to the SILC Undergraduate Program students at @YBFVentures. (photo)
OKEx Global Meetup Tour in Ho Chi Minh City, Vietnam. @joshuam gave a brief presentation covering the history of Decred, how the project functions, and the importance of governance. Afterwards he joined a panel discussion and spoke about Decred's incentives for long term viability. (video, video, photo)
Blockchain Futurist Conference in Toronto, Canada. @zubairzia0 noted: "Devs and the community were held in high regard for the people who knew about decred ... one positive thing I remember was someone defending us saying 'Decred does not need a booth', I believe that comment was reflective of the quality of projects being showcased at the conference.". (photo)
Meetup at @YBFVentures in Melbourne, Australia. @joshuam discussed Decred with Graham Stuart, U.K. Minister for International Trade. (news, photos)
Small meetup with Jackson Palmer in Melbourne, Australia. (photo)
Hawthorne Street Fair in Portland, USA. Raedah Group was out answering questions about crypto and Decred. (photos)
Blockchain APAC in Melbourne, Australia. @joshuam joined a panel discussion with reps from banking, university and ISO/TC 307. @eSizeDave reports: "This enterprise conference was indeed a whole lot better than I expected. The presentations were actually full of very worthwhile information from credible people, articulated aptly to a very government, academic, and corporate crowd, who genuinely took on board valuable insights. Good to know some of these key people are Decred holders and stakers as well. I got to use the entire day to speak directly with some of the most pivotal personalities in this particular populace. Ongoing relationships have been built and strengthened.". (photos: 123)
For those willing to help with the events:
BAB: Hey all, we are gearing up for conference season. I have a list of places we hope to attend but need to know who besides @joshuam and @Haon are willing to do public speaking, willing to work booths, or help out at them? You will need to be well versed on not just what is Decred, but the history of Decred etc... DM me if you are interested. (#event_planning) The Decred project is looking for ambassadors. If you are looking for a fun cryptocurrency to get involved in send me a DM or come talk to me on Decred slack. (@marco_peereboom, longer version here)
One private work channel was successfully migrated to Matrix.
Stylish room avatars were set.
@Haon has prepared a short guide to help new Matrix users get started and join the Decred rooms.
A thread was started to discuss changes to Decred jargon with the intent to make it more consistent and accessible to newcomers. The question whether changing "official" terminology requires stakeholder approval was touched in this thread and in #documentation.
Project fund transparency and constitution were extensively discussed on Reddit and in #general.
Pre-proposal to use Politeia to approve Politeia as a legitimate decision-making tool for Decred.
Reddit: substantive discussion about Decred cons; ecosystem fund; a thread about voter engagement, Politeia UX and trolling; idea of a social media system for Decred by @michae2xl; how profitable is the Obelisk DCR1. Chats: cross-chain trading via LN; plans for contractor management system, lower-level decision making and contractor privacy vs transparency for stakeholders; measuring dev activity; what if the network stalls, multiple implementations of Decred for more resilience, long term vision behind those extensive tests and accurate comments in the codebase; ideas for process for policy documents, hosting them in Pi and approving with ticket voting; about SPV wallet disk size, how compact filters work; odds of a wallet fetching a wrong block in SPV; new module system in Go; security of allowing Android app backups; why PoW algo change proposal must be specified in great detail; thoughts about NIPoPoWs and SPV; prerequisites for shipping SPV by default (continued); Decred vs Dash treasury and marketing expenses, spending other people's money; why Decred should not invade a country, DAO and nation states, entangling with nation state is poor resource allocation; how winning tickets are determined and attack vectors; Politeia proposal moderation, contractor clearance, the scale of proposals and decision delegation, initial Politeia vote to approve Politeia itself; chat systems, Matrix/Slack/Discord/RocketChat/Keybase (continued); overview of Korean exchanges; no breaking changes in vgo; why project fund burn rate must keep low; asymptotic behavior of Decred and other ccs, tail emission; count of full nodes and incentives to run them; Politeia proposal translations and multilingual environment. An unusual event was the chat about double negatives and other oddities in languages in #trading.
DCR started the month at USD 56 / BTC 0.0073 and had a two week decline. On Aug 14 the whole market took a huge drop and briefly went below USD 200 billion. Bitcoin went below USD 6,000 and top 100 cryptos lost 5-30%. The lowest point coincided with Bitcoin dominance peak at 54.5%. On that day Decred dived -17% and reached the bottom of USD 32 / BTC 0.00537. Since then it went sideways in the USD 35-45 / BTC 0.0054-0.0064 range. Around Aug 24, Huobi showed DCR trading volume above USD 5M and this coincided with a minor recovery. @ImacallyouJawdy posted some creative analysis based on ticket data.
StopAndDecrypt published an extensive article "ASIC Resistance is Nothing but a Blockchain Buzzword" that is much in line with Decred's stance on ASICs. The ongoing debates about the possible Sia fork yet again demonstrate the importance of a robust dispute resolution mechanism. Also, we are lucky to have the treasury. Mark B Lundeberg, who found a vulnerability in atomicswap earlier, published a concept of more private peer-to-peer atomic swaps. (missed in July issue) Medium took a cautious stance on cryptocurrencies and triggered at least one project to migrate to Ghost (that same project previously migrated away from Slack). Regulation: Vietnam bans mining equipment imports, China halts crypto events and tightens control of crypto chat groups. Reddit was hacked by intercepting 2FA codes sent via SMS. The announcement explains the impact. Yet another data breach suggests to think twice before sharing any data with any company and shift to more secure authentication systems. Intel and x86 dumpsterfire keeps burning brighter. Seek more secure hardware and operating systems for your coins. Finally, unrelated to Decred but good for a laugh: yetanotherico.com.
About This Issue
This is the 5th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here. Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research. Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack. Contributions are welcome too. Some areas are collecting content, pre-release review or translations to other languages. Check out @Richard-Red's guide how to contribute to Decred using GitHub without writing code. Credits (Slack names, alphabetical order): bee, Haon, jazzah, Richard-Red and thedecreddigest.
Market News Another week of impressive price action in the crypto markets as Bitcoin broke above $9000 and continued to trend higher, kicking the weekend off near $9800 and maintaining strong yearly performance amongst a wave of positive crypto news. Binance Coin (BNB) was this week’s largest gainer in the top 10, looking strong with a +14% gain and ending the week near $38. The rest of the altcoin market mirrored the positive crypto sentiment with every coin in the top 10 settling in positive territory. Industry News
‘Youngest Bitcoin Millionaire’ Willing to Stake it All on Metal Pay
https://preview.redd.it/f2hdpngkljh31.png?width=2000&format=png&auto=webp&s=5cc57b932f5e950203aec3cabcd9e686a6f9c585 Metallicus, the startup behind the peer-to-peer payments platform Metal Pay, received an undisclosed angel investment from the youngest bitcoin millionaire, Erik Finman. In partnership with Metal Pay CEO Marshall Hayner, the two look to develop the first “all-in-one” cryptocurrency banking platform, which includes a 17 digital asset exchange, a digital bank and a payments application with social features similar to Venmo. Founded in September, Metal Pay has processed approximately $11 million in total payments from nearly 130,000 registered users across 38 states. On a monthly basis, the company processes $1 million in crypto or fiat for around 30,000 active users, according to Hayner. Finman staked a modest amount of bitcoin to finance the development of the banking and exchange ecosystem, he said, which currently holds approximately $2 million in crypto and fiat on the platform. Though Finman is willing to put in his entire “400 something” bitcoin fortune to fund Metal Pay’s growth, the 20 year old told CoinDesk. “We’re looking to beat bitcoin,” Finman said. “I’ve been a bit back and forth in the past (‘crypto is dead’/ ‘resurrect Bitcoin’) but have found in recent months, especially, that the bitcoin community is super fragmented. And the actual usability for bitcoin is minimal,” Finman said. This project is an attempt to move beyond the siloed developments within the crypto industry and become a usable financial tool, he said. Hayner agrees, and said crypto has grown to mirror “the existing financial industry,” rather than the open-source community where he found his footing in “the days when you could still mine BTC on a MacBook.” Before Metal’s founding in 2016, Hayner helped build Stellar, Dogecoin and Block.io. The company previously received $3 million in funding from G2 Ventures, Gateway and Shapeshift CEO Erik Voorhees.
Crypto meets conventional
The two took a “crypto-agnostic” approach when building the system and have worked actively with regulators. Metal Pay is partnered with Arkansas-based Evolve Bank and Trust to provide FDIC insured deposit accounts. As the platform develops, Evolve will help Metal Pay introduce a number of financial products associated with conventional banking services. In 2018, Hayner also developed a proof of processed payment as a means of distributing MTL tokens native to the platform. The proof reaches consensus and validates transactions conducted on Metal Pay. Instead of a mining reward, however, the counterparties receive up to 5 percent of the transaction volume in MTL, which, “for consumers, is construed as cash back,” said Hayner. These rewards, called Pop can be converted into fiat, sent to another Metal Pay user, or held as an investment. MTL holders are rewarded in additional ways. For instance, those that “hold over 10,000 MTL on an average spot price between Binance, Kraken and Bittrex,” will not be charged fees. Further, Hayner said the company intends to offer free trading on MTL specific pairs and fee-less options for merchants following the introduction of Metal Merchant. Metal Pay looks to gain market validation in a crowded field of payment apps like Venmo and Cash App. Hayner recognizes the difficulty in attracting non-crypto users, and is working to build an application that passes industry muster first. He said:
“Bitcoin is flawed, but only in the way the Ford Model T was flawed, the concept of a car will live on and constantly be improved upon, hopefully it builds upon the existing model and there is always room for Ford, Toyota, Mazda, BMW, Tesla even!”
REMINDER: The XRB market has been consistently manipulated downwards over the past two weeks. The fundamentals of the coin have not changed!
Most of you already know this, but I would almost argue this should be stickied for those who don't. Just like the whole cryptocurrency market, XRB has been manipulated downwards over the past several weeks, by whales using sell walls to discourage the bullish growth we were seeing through December. I believe they are taking advantage of the current low volume and the node/exchange issues the currency is facing and using that as smoke and mirrors as they institute sell wall after sell wall to push the price downwards inorganically, accumulating all the cheap XRB on the way down. To the casual observer, this coin is bearish. The crypto market in general is bearish, so so not many newcomers are entering the market right now. Looking at the Google Trends searches for XRB and RaiBlocks are pretty staggering, but there are similar trends going on with cryptocurrency and Bitcoin. Nothing has changed with the fundamentals of this coin- we all knew there would be scaling issues at some point, and it's great to know that the devteam has been working so hard on fixing those issues. It's fair to reason Binance has also been waiting patiently on these issues to be resolved before adding the coin. Are the whale's accumulating specifically for the Binance release? Are they true believers in the technology who want to take care of their FOMO while they still can? I'm not sure- but I do have faith in this coin and the current downtrend gives me confidence, when I look at the mechanics of it.
New Report Illustrates The Problem With Cryptocurrency Exchanges
In light of the very recent 104-page Bitwise report that examined fake volumes on cryptocurrency exchanges, it is relevant to address one of the primary problems of cryptocurrency exchanges - transparency. The relationship between exchanges, token issuers, and sites that cover market caps and exchange volumes is well-established as dubious for retail investors in a market rife with volatility already. The most striking consequence of the three-pronged relationship, is the absurd volumes of many cryptocurrency exchanges. For context, Bitwise’s paper was actually submitted to the SEC as a comment, and cited that although Bitcoin spot market and arbitrage strength have ‘improved dramatically,’ Bitwise reiterated how 95 percent of exchange volume is likely fake or due to wash trading. Their conclusion was mirrored by analysis from The Block, who to a certain extent, agreed that fake volumes among crypto exchanges are rampant (up to 86 percent exchange volume) but not as significant as Bitwise’s earlier report. Bitwise does reveal how Bitcoin’s spot market is much more efficient than many observers realize, but the main takeaway in the context of endemic exchange problems, is their conclusion that only 10 exchanges have real trading volumes. Bitwise analyzed economic and non-economic trading, among more than 80 exchanges by scraping live trading data from them, determining that 73 of the 83 evaluated exchanges failed at least one of their tests for real trading volume. Bitwise reported their findings as "10.5 billion dollars out of the 11 billion dollars in reported daily volume (or - 95%) is either fake or wash trading." The Block’s analysis of 48 cryptocurrency exchanges used a different approach, that honed in on monthly website traffic to exchanges over the course of six months using SimilarWeb. Of all the exchanges they analyzed, Binance and Coinbase led the way with 185 million and 143 million visitors over the 6-month period, respectively. This is not surprising, as data furnished by the Blockchain Transparency Institute (BTI) and Bitwise support the notion that Binance and Coinbase are among a select group of popular exchanges with real volume. However, The Block disagreed with part of the approach Bitwise took in its study, detailing how Bitwise ignored the real volumes on hundreds of exchanges that they believe have fake volumes. Examining cryptocurrency exchange volume is clearly very challenging, but the conclusion we can draw from both Bitwise and The Block is that wash trading and fake volumes continue to persist at a concerning scale. One of the reasons that might make a crypto exchange influence numbers, is the effect of data aggregation websites like CoinMarketCap, which prove invaluable distributors of potential investors to new exchanges looking to bring in more volume. The higher a new exchange appears on the listing site, the more likely investors are to check it out, creating a positive feedback loop for the exchange’s volume at the expense of transparency for investors. At the peak of the un-regulated ICO phase, it was reported that some listing fees for ICOs on exchanges reached millions of dollars. While the incentives for newer and smaller exchanges to engage in inflated reporting and wash trading are manifest, some of the downstream consequences are not as widely understood - particularly regarding the solvency of exchanges. While the supposed exit scams, fake volumes, and solvency problems of cryptocurrency exchanges may seem like an unfixable problem, that’s becoming an obsolete notion. Numerous exchanges and outside projects are targeting increased transparency in the ecosystem. Whether it be self-regulation via revenue reporting, proof of reserves, or custodial protocols, transparency among crypto exchanges is poised to improve. For investors, knowing which exchanges to trade on ultimately depends on self-education and understanding which exchanges are legitimate and which are not. Websites such as BTI and Nomics provide data-driven metrics for real volumes on exchanges, detailing any inconsistencies between metrics like website traffic and reported volumes. BTI even supplies in-depth reports on exchanges to avoid and their ‘Wash Trade Status,’ which provides their percentage of overall volume as likely being wash traded. Proof of solvency presents a= problem of its own for exchanges. For example, an exchange may not want to publicly report revenue or other fiscal details due to fear of competition taking advantage of their transparency - a reasonable concern on their part. ArpaChain relies on a cryptographic technique called ‘secure multi-party computation,’ which allows multiple participants to compute a function without revealing their independent inputs. In the context of exchanges, that could mean exchanges joining forces to self-regulate, and to expose that they are solvent beyond a precise threshold without revealing the exact financial details of each exchange. Kraken provides comprehensive details on their ‘Proof-of-Reserves’ audit process to give investors assurances of the exchange’s solvency. Similarly, ‘Proof-of-Reserves’ is the name of a proposed protocol by Blockstream for standardizing solvency proofs with Bitcoin. Some solutions simply bypass the problem of solvency altogether. Arwen Protocol uses atomic swaps to circumvent the need to deposit crypto assets on a centralized exchange. Instead, funds are stored via a combination of on-chain escrows and off-chain atomic swaps - the assets are never stored on the exchange, so there is no need to fret a fractional-reserve system working behind the scenes. Propositions for scaling Bitcoin also include the concept of ‘Bitcoin banks,’ and at least, exchanges or financial institutions that unmask risk to users - with varying consequences and roles to play in the ecosystem. While it is evident that the current lack of transparency of cryptocurrency exchanges is a significant problem, it is not a dilemma without hope for improvement. Navigating the underbelly of the cryptocurrency exchange environment is challenging and full of risk, but at least investors and observers are increasingly armed with better tools to discern the truth for themselves - giving power to the maxim of “don’t trust, verify.” All that said, you should not see this article is a recommendation to invest, buy or sell cryptocurrencies. Is it still a very fragile and unregulated market. Do your research.
My experiences as new investor are mirroring the overall market. Scrambling to Value as small and mid-caps continue to tumble.
Being new to this market feels like riding a roller coaster, which I'm sure is not news to anyone. But over the past few weeks I feel like I'm seeing some distinct trends in the markets that mirror my own experiences, and hopefully can give some insight to the future. Like a lot of people, I only bought in recently, around the time BTC was leading the national news cycle. But due to the barriers to entry, there was a pronounced delay from when I made the decision to invest and when I could actually put any money in play. The most established Fiat-Crypto exchanges were experiencing 5-10 day delays for new accounts to get verified and funded. So even though Millions upon Millions of new $ were being committed to Crypto in the last week of December, little of that was hitting the market until Jan 2nd-4th. And when it was, it was coming in through somewhat inexperienced traders like me, who were initially buying the big-cap newsworthy coins (BTC, ETH, XRP) because that's what they had heard about. Within a few days, I began discovering more Crypto trading resources and exchanges, and information sources like CoinMarketCap and /CryptoCurrency. On Dec 26th, I didn't even know there were legitimate cryptocurrencies out there besides ETH, BTC, and ZEC, and by Jan 2nd I was trading RaiBlocks on BitGrail for fucks sake. I also made some dumb moves, by chasing micro-priced coins. Everything was going up, and some of the $0.000x coins were popping for 5x, 10x. The strategy of spreading your portfolio in the 10-20 lowest coins on Binance/Kucoin and waiting for one of them to go 10x was a pretty solid move for a few days there. But as quickly as everything was turning to gold, it turned the corner and went to shit. And I'm not surprised at all because the people who had been holding those micro-coins knew they were worthless, so they dumped it before newbies like me knew what hit us. Since it was the BTC surge, and the ensuing news cycle that built this run, now that those factors are reversed, it is naturally leading to a reversal of the trend. BTC goes from $20k to a new support level of $13k-$14k. A word search for "Bitcoin" on either CNN.com or BBC.co.uk no longer appears in any headlines. The fire underneath the market is gone. Unless those factors flip again, we are not going to see a swift recovery of the past week's losses, especially not for the small-cap and shillcoins that only benefited from the market surge, not their own fundamentals. I for one, am not on board with all those saying "buy back now, its not a correction, its a discount!" I see the Global Crypto Market Cap continuing to fall, maybe by another 10-20%, before stabilizing and staying flat until the next major shake-up. But for me the silver lining is that there are now thousands (maybe millions) of new players on the field, like me. Many of us are younger, internet-savvy, and eager to learn and participate in the growing movement. Once this correction has run its course, I believe there will be much more established fundamentals emerging in the market. People will still pump and dump, like they have for generations with stocks, bonds, tulips, orange juice futures, etc. but currencies that have real-world uses and fundamentals will rise and fall in value predictably along with the market's interpretation of them, just like wall street does with publicly traded companies. And just because the total market cap is contracting, does not mean all coins will be losers. I don't think there is very much fiat currency actually leaving the system, its just being panic-traded out of speculative coins back into more established currencies at more reasonable prices. If people like me are the model for a new generation of Crypto-traders, then here is what I'm doing as a reaction to the crash.
1: Get out of any project that doesn't have a real-world use today, or a major development milestone within the next week or two. Get out of any "decentralized currency" coin besides the top 5.
2: Focus on a baseline established currency (BTC, ETH are easiest) and re-calibrate my thinking to maximize my BTC balance, instead of my USD balance. Not that BTC is the only reasonable currency of exchange, but until something changes, its still the safest and most stable.
3: Think global, and actively seek the latest and best information. Just because the US is cooling down doesn't mean China, Korea, Japan, India, Russia, Europe, Singapore, Vietnam may not be heating up. And know which coins get boosted by which news.
4: For Blockchain/Crypto projects, stay up to date on news and development. Try to get on their Slack, follow their Twitter, get on Telegram. And don't fall in love with them. If there is a competitor with a better product, better team, faster dev, or cheaper price, make the smart move.
5: There will be another run. It won't be as big, it may not last as long, and it may not happen for a while, but it will come. So be ready with some cash to throw around, a solid strategy to get in, and more importantly a plan to get back out on the other end.
General info and list of exchanges for STASIS EURS (EURS)
STASIS is a revolutionary step towards combining the vast potential of the cryptocurrency market with the stability and reliability of traditional currencies. EURS token is a virtual financial asset that is designed to digitally mirror the EURO on the condition that its value is tied to the value of its collateral. This allows it to curb the extreme volatility inherent to many cryptocurrencies. Its compatibility with the traditional financial system allows professional investors to access the cryptocurrency market similar to how they operate in traditional financial systems. We provide three verification streams to ensure the sufficiency and transparency of the balances for all STSS accounts: Daily statements based on statements from the counterparty; Quarterly verification by a Big Four company; Verification by a Big Four company on demand of an onboarded entity. STASIS Wallet now available on IOS and Android How it works We created a tokenized version of the euro that captures the benefits of blockchain technology and traditional finance. Most prospective cryptocurrency holders are subject to considerable counterparty risk, extreme volatility of the cryptocurrency markets, and liquidity shortages. With EURS, we aim to provide solutions to these risks. KNOW MORE Transparency exchanges illustration For exchanges By listing EURS, cryptocurrency exchanges obtain a promising stable token, which may be attractive to customers such as financial institutions and other professional investors as well as a payments instrument alternative to the traditional financial infrastructure. KNOW MORE Transparency advisory illustration GR & Advisory In 2017, many governments recognized blockchain-related businesses as a source of substantial future tax revenues and started competing as blockchain-friendly legal infrastructures. The team behind STASIS intends to invest all of their experience to develop a comprehensive legal framework for asset digitalization. KNOW MORE Roadmap Exante creates world’s first Bitcoin fund Bitstamp partnership Alpha generation through arbitrage opportunities and derivatives on BTC ePayments partnership Acquisition of minority stake in Bitfinex Сollaborations with several jurisdictions to introduce stable coin legal framework STASIS Book published Consulted several Governments on digital assets STASIS legal concept created Contributed to Virtual Financial Assets Act on Malta STASIS Wallet with ETH/EURS exchange released Community token concept created EURS emission BTC/EURS Wallet integration EURS listing on digital assets exchanges STASIS Community Token (SCT) airdrop Institutional grade counterparty in ecosystem (ISDA) STASIS Wallet custom ERC-20 token support Our team Gregory Klumov Gregory Klumov CEO & Founder Vyacheslav Kim Vyacheslav Kim CFO Anatoliy Knyazev Anatoliy Knyazev CTO Konstantin Orlov Konstantin Orlov CLO Paula Pandolfino Paula Pandolfino Stasis Foundation Martin Bruncko Martin Bruncko Stasis Foundation Team Our team consists of IT and finance experts with fintech backgrounds. The EURS issuer is advised by highly skilled third-party professionals with international experience in investment, asset management, legal, accounting, regulatory, and business development. EXCHANGE LIST Binance Huobi Kucoin Bibox Qryptos Satoexchange BIGone Bitrue Bilaxy Bit-Z Linkcoin SECURE WALLET Ledgerwallet Trezor
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