BTC GBP Chart Bitcoin - British Pound

Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
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With Bitcoin Suddenly Surging, Canaan Stock Is Also Going Up Today

With Bitcoin Suddenly Surging, Canaan Stock Is Also Going Up Today



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perior over different cryptocurrencies?
LATESTBITCOINETHEREUMALTCOINSTECHNOLOGYADOPTIONBLOCKCHAINEVENTSCONTACT
PRESS RELEASEWhy is Bitcoin superior over different cryptocurrencies?Akshay KSPublished a pair of weeks agoon August 12, 2020By Akshay KS
Source: Pixabay
During this technical world, bitcoin is the foremost used digital currency all over the world. However the main question then arises within the minds of the many folks is why bitcoin is considered the foremost superior over other cryptocurrenc Bitcoin Freedom
Bitcoin is that the one method of creating transactions daily as alternative currencies. But it's its options and uniqueness that make it superior. Bitcoin and different currencies are based mostly on the cryptographic algorithms or mathematics that are encrypted, with that the user becomes the owner of the currency. Bitcoin currencies are easily accessible at Bitcoin ATM and online exchange
The main feature of the bitcoin, which makes it superior is that it is the safest option for digital transactions. These will be used for on-line searching and transfer of money too.
There are many alternative blessings to using bitcoin. A number of them are mentioned below
Decentralized and digital
Bitcoin offers the freedom of exchanging the price without representatives that proves helpful in controlling the lower fees and high funds. Bitcoin is that the faster method of transaction than others. It is secure as it is free from theft and frauds and is constant. The main advantage is that bitcoin has its homeowners whereas the bank controls the money.
Makes online looking
Normally, bitcoin will be used for on-line shopping too. Bitcoin is the opposite face of e-wallet, that is created by blockchain technology that is used to store money and will easily pay everywhere digitally. For this reason, it also makes your searching easy by which you'll be able to look from your home solely

Bitcoin is accepted globally at each corner of the planet, which makes it less volatile than local currencies or cash. This feature makes it superior because it enables us to form transactions on-line and across the boundaries
Bitcoin unable the means of tracking cash

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Bitcoin is created by blockchain technology. Blockchain is the sole technology which will either make it or break it. There are many computers which are used to keep up a permanent record of each bitcoin transactions with the help of cryptographic technique. In this approach, it becomes a lot of valuable together with the tracking of the payment. At the same time, there's no method of tracking the cash

While not any transformation method, it will be used over the entire world. It provides the simplest platform for the investment as it is free from the restrictions of governments or banks. It provides an open market and combines the simplest of gold and money.

Bitcoin provides the power to access the balance of the users with a password which is named a personal key. It additionally permits the exchange of values through the web without any middle person. Thus, bitcoin becomes safer, stuffed with privacy, and open to everyone
Unlike cash, it is not possible to form the duplicate quite bitcoin that makes it more efficient. It's protected with the technology of blockchain. Even if anyone tries to form a replica of bitcoin to use it, then the system will automatically reject it as the system recognize it as unknown

Bitcoin Freedom failed to allow two persons to transact on the one price. Once the bitcoin is transferred, its possession is also transferred. So this is the simple approach of maintaining records for any tax functions. It conjointly makes it a easy and healthier metho

Bitcoin is the foremost reliable manner of online transactions. Many questions arise in folks’s minds that are solved on websites like bitcoin revolution. One in all them was the above-mentioned question. Bitcoin provides many facilities, and it comes with more and a lot of blessings which makes it distinctive and special over different cryptocurrencies. It can be preferred as the simplest digital platform for transac


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Benefits and Risks of Trading/Bitcoin trader

Benefits and Risks of Trading/Bitcoin trader

Ought to you jump in and begin using your onerous-mined bitcoins within the markets? Find out the risks and advantages initial.KEY TAKEAWAYS
The market is devoted to trading in the globe's currencies.
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Many brokers currently settle for bitcoin and different cryptocurrencies.
Bitcoin trades benefit from the anonymity and decentralized valuation system the currency represents.
They add a replacement layer of risk trading, exacerbated by the acute volatilityStandard Forex Trade
Before you think about whether to trade using bitcoin, it's helpful to understand how a standaroretrade works.

A forex trade is simply an exchange of 1 currency for an additional at its current rate. Unlike tourists who exchange their home currency for local spending cash, forex traders are trying to form cash off the continual fluctuations in the real value of 1 currency against anothe

Imagine you're an American trader betting that the British pound can lose price compared to the U.S. dollar. This is termed trading on the British pound/U.S. dollar currency pair (GBP/USD).The Impact of Decentralization
The key distinction is that, though forex exchanges would possibly be decentralized, the currencies themselves are backed by central banks in the countries that issue them. It's the duty of those banks to stabilize the value of their currencies and keep them stable
Now think about an example of a forex trade using bitcoin. First, you open a forex trading account with a broker who accepts bitcoins. These embody AvaTrade,one? eToro, and LiteForex.a pair of? You then transfer 2 bitcoins from your digital wallet to the forex broker’s digital wallet.

If you wish to trade using bitcoin, use only a locally regulated forex brokerage. And avoid using leverage till you know what you are doing.
Assuming the present bitcoin to U.S. dollar rate is 1 bitcoin = $seven,500, your deposit of two bitcoins is value $fifteen,00zero. Now, assume that you would like to require an edge in British pounds. If the exchange rate is £zero.five = $one, you may receive £7,500. When it rate changes to 0.45, and you square off your position t.sixty five in your trading account. You have got made a tidy eleven.elevenpercent profit and you're prepared to cash out.




Despite the very fact that your bet on British pounds earned you an eleven.11% profit (from $fifteen,00zero to $16,66six.65), the fluctuation in the bitcoin to U.S. dollar rate suggests that that you sustain a loss of zero.039 bitcoin or about -two.percent. (Initial deposit of 2 bitcoins — 1.961 bitcoins = .039 bitcoin).

However, had the bitcoin to U.S. greenback exchange rate changed to 1 bitcoin = $7,000, you'd realize a benefit from both the forex trade and the bitcoin exchange. You'd have received ($16,66half dozen.65/$7,00zero) = two.381 bitcoins, a profit of nineteen.onepercent.

Increased Unpredictability
This hypothetical example illustrates the large reason to exercise caution when using digital currencies for forex trading. Even the most fashionable and widely used cryptocurrency, the bitcoin, is highly volatile compared to most traditional currencies.

Within the year ending July 24, 20twenty, the value of a bitcoin ranged from $five,532 to $eleven,982
This unpredictability means that that the risks associated with trading forex using bitcoin are that abundant larger
Beyond the exchange rate fluctuations impacting profit and loss, there are other edges and risks to consider before trading forex with bitcoin
Decentralized Vauations: A major advantage of trading forex with the bitcoin is that the bitcoin isn't tied to a central bank. Digital currencies are free from central geopolitical influence and from macroeconomic issues like country-specific inflation or interest rates.
High Leverage: Many forex brokers offer leverage for bitcoin trades. Experienced traders can use this to their profit. However, such high margins ought to also be approached with great caution as they amplify the potential for losses.
Low Deposit Amount: A trader can begin with as little as $twenty five with some bitcoin forex trading firms. A few forex trading companies have even offered promotions sort of a matching deposit quantity. Traders ought to check that the broker is legitimate and appropriately regulated.
Low Cost of Trading: Most forex brokers that settle for cryptocurrency are keeping brokerage costs terribly low to attract new shoppers.
Security: You don’t would like to reveal your bank account or mastercard details to make a bitcoin transaction. This could be a massive advantage in terms of price and monetary security.

No World Boundaries: Bitcoin transactions don't have any international boundaries. A trader primarily based in South Africa can trade forex through a broker based mostly within the United Kingdom. Regulatory challenges could stay a concern, however if both traders and brokers are willing to transact, there aren't any geographical boundaries.
Risks of Trading Forex with Bitcoin
Different Exchange Rates: Bitcoin trades on multiple exchanges and exchange rates vary. Traders must guarantee they understand that bitcoin exchange rates the forex broker can be using.

U.S. Dollar Rate Risk: While receiving bitcoin deposits from clients, almost all brokers instantly sell the bitcoins and hold the quantity in U.S. dollars. Even if a trader will not take a forex trade position immediately when the deposit, he or she remains exposed to the bitcoin-to-U.S. dollar rate risk from deposit to withdrawal.
Danger of Volatility: Historically, bitcoin prices have exhibited high volatility. Within the absence of regulations, volatility will be used by unregulated brokers to their advantage and a trader’s disadvantage. For example, assume the intraday bitcoin rate fluctuates from $five,00zero to $5,300 U.S. greenbacks per bitcoin. For an incoming deposit of two bitcoins, the unregulated broker may apply very cheap rates to credit the trader $10,00zero (2 bitcoins * $five,000 = $10,000). However, once the trader is ready to create a withdrawal, the broker might use rock bottom exchange rate. Instead of the original a pair of bitcoins deposited, the trader receives o
Security Risks Inherent to Bitcoin: Deposited bitcoins are vulnerable to theft by hacking, even from a broker’s digital wallet. To reduce this risk, rummage around for a broker who has insurance protection against theft.


Risk of Leverage: Using leverage is risky for new traders who may not perceive the exposure. This risk is not unique to cryptocurrency forex trading and comes into play in traditional forex transactions still.
Asset Category Mixing: Cryptocurrency may be a different asset class altogether and has its own valuation mechanism. Trading forex with bitcoins primarily introduces a replacement intermediate currency which will impact profit and loss in unexpected ways. Any cash that's not locked down in an exceedingly trader’s base currency is a risk.
Although cryptocurrencies like bitcoin are gaining popularity, there are still several associated risks. In forex trading, dealing in a decentralized currency that provides global transactions with no fees is a bonus. But the tradeoff is actually adding a 3rd currency to what was a trading try
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https://www.cryptoerapro.com/the-bitcoin-trade
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Were you happy with the last evolution of money?

Money over the ages has always been something scarce, beads, shells, gold, whatever, even big currencies like the USD or GBP were just proxies for holding gold. And because different countries had different weights of gold their currencies, all exchange rates were known and fixed? blows my mind!
Anyway, now the USD isn't backed by gold, at some point some president just said "oh yeah by the way, that paper that you were holding in lieu of gold... is no longer exchangeable for any gold"... without a democratic debate or referendum being taken, which to me, that must have been like nationwide theft overnight.
So, that's our money now, no longer based on scarcity, just the authority of our governments, and on average, fiat currencies last less than 30 years... think the USD is about 60 years old in it's current fiat form?
As this subredit is named 'buttcoin', and everyone appears to think cryptocurrencies in general are all scams, has anyone given any thought to what real money should look like? if's it's not going to be something like bitcoin, decentralized (no one in control, cant turn it off) and based on cryptography, what should our new look like now that fiat is currently being printed like monopoly money?
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What is Nexo? / A quick introduction for new users

What is Nexo?
Nexo — Better Than Any Bank Account.
A quick introduction for new users

If you came across the #NEXO Token, it probably means that you are moving in the crypto world - bitcoin, tokens, blockchain, etc.

🔹Nexo (https://nexo.io) provides the world’s first instant crypto credit lines. In a regular bank, as we know them from our lives, we usually borrow money and use a house, an apartment, or another real estate as collateral. Loan approval and processing may sometimes take up to several weeks. Nexo, by contrast, will approve your loan in a matter of seconds and the money will be sent to your account right away.

🔹THERE ARE 3 WAYS YOU CAN RECEIVE YOUR MONEY:
  1. Instantly withdraw your loan in USDT
  2. Directly in your personal bank account, usually takes one business day (the maximum is 3 days). Nexo supports 45 currencies and 200 countries worldwide
  3. The Nexo Card - Nexo’s card allows users to instantly spend from their credit line for all sorts of expenses without selling their crypto. https://nexo.io/nexo-card?referral=T286Y7V&refSource=copy

- Interest rates from 5.9% to 11.90% https://medium.com/nexo/improved-nexo-staking-policy-for-credit-line-discounts-9b896cc34b93
- Loan amounts from $500 to $2 million
- Installment calendar = you can repay anytime you want - regularly, irregularly - it's up to you. You pay interest only for the days you have used the loan
- You have 1 year to repay the loan, if you do not repay it, the loan will be automatically extended for another year

🔹Nexo ACCEPTS:
#BTC #ETH #LTC #BCH #BNB #NEXO #EOS #XRP #XLM #PAXG (additional assets will be added) as collateral for your loan and helps you keep your assets and their ability to increase in value without the having to sell them

Nexo helps you with your tax situation.
https://medium.com/nexo/how-to-ease-your-crypto-tax-burden-f3f536c098d8
With Nexo you can enjoy your crypto wealth today without selling your assets.
The first crypto bank

🔹EVALUATION OF YOUR ASSETS:
  1. Fiat: EUR GBP USD
  2. Stable coins: #USDT #DAI #USDC #PAX #TUSD
  3. Crypto: #BTC #ETH #XRP #LTC #BCH #XLM #EOS - in preparation.
- Yield up to 8% compounding interest per year.
- The income is credited to you daily.
- No deposit commitment.
- No deposit fees.
- No withdrawal fees

🔹#NEXO TOKEN - 3in1
The #NEXO Token and its benefits for the token holder:
  1. Dividends - passive income - Nexo shares 30% of its profits with #NEXO Token holders in the form of dividends
(The previous dividends were paid out in 2018 and 2019 and amounted to a total of roughly $3,300,000)
  1. Discounts and Bonuses
With Nexo, you can stake #NEXO Tokens to receive the following bonuses
50% discount on accrued interest via staking of #NEXO Tokens
25% bonus interest on deposited assets
  1. Exchange tradability
Possibility to earn on the rising price of the #NEXO Тoken.

🔹FACTS:
- On December 15, 2018 Nexo distributed the first dividend 7 months after opening in the amount of $ 900,000 / 4.80% ROI
- On August 15, 2019, Nexo distributed a second dividend of $ 2,400,000 / 12.72% ROI
- NEXO made a net profit of $ 11,000,000 in its first 14 months of operation
- NEXO has brokered loans of $ 2,500,000,000 since the launch of the www.nexo.io platform
- Nexo registers 750,000 platform users
- The Nexo Wallet App is now available for all iOS and Android
- Nexo has $100 million insurance of all custоdial assets stored with the world’s leading crypto custodian BitGo.

🔹IN PROCESS:
- Dividend payment No.3
- Credit card with 2% cash-back
- Other benefits of #NEXO Token
- New assets will be added to the platform
- Regular dividends / several times a year
- Affiliate program
- Website redesign
- Stock exchanges
----------------------------------------------
🇬🇧 NEXO Official Telegram
https://t.me/nexofinance
🔊 Notification channel:
https://t.me/nexonews
Statistics of #USDT loans
https://nexostatistics.com
----------------------------------------------
Update in English from 8.6.2020
submitted by rasto1973 to Nexo [link] [comments]

Large-scale updates of Tkeycoin. What’s next? — listing on the crypto exchange. Are you with us?

Large-scale updates of Tkeycoin. What’s next? — listing on the crypto exchange. Are you with us?

https://preview.redd.it/ojtx6mauve151.png?width=700&format=png&auto=webp&s=8dd727076d495d4b624a307775e64ae83ce31c76
Hello, everyone, It’s been a long time since you heard our team, someone thought we were gone, someone was waiting, and someone disappeared himself.
All this time we have worked hard to bring you good news. We will tell you what we have prepared for you, what events will be soon, what you can use right now and what else will be new in the year. And so, let’s go!

Preparing for listing on the exchange

The pandemic period played into the hands of the entire team and we managed to build beauty in our services. In anticipation of the exchange, the team tidied up the sites and services and connected new tools. First of all, we paid attention to the preparation of all services for a foreign audience, taking into account its mentality.
New sections, localizations, nice things, and much more to ensure the most efficient use of the TKEY resource. In addition to the new tabs, the services that we will talk about in this material, there is a special page for representatives of the exchange with the necessary documentation for listing — https://tkeycoin.com/en/documentation/.

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Full localization

Already today the official website tkeycoin.com available in 5 languages: Russian, English, Korean, Chinese (Simplified), Chinese (Traditional).

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We made adjustments to the Russian and English versions of the site, including support for Korean and Chinese for each section of the site. Professionals in their field, native speakers translated and adapted the information as it should be, and we, in turn, structured and framed it properly. So welcome!

https://preview.redd.it/hcnhws2zve151.png?width=700&format=png&auto=webp&s=30b53c5c4f3c192c39518f66941dcfdfc5b420f5
We will update language support for the site, and soon it will include support for all languages that are available in the mobile app.

QR Codes for Asian Audience


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Our friends and residents of Asian countries actively use QR codes in their lives, both when paying in stores and when working with websites. QR codes are used almost everywhere when renting a car or bike, we just open the phone, scan and the mode of transport becomes available for use, anything is available for rent, even a battery, even an umbrella.
“It was a hot May day. Seven-year-old Wang Jiaozui came out of school and saw his grandfather, who came to pick him up. He was standing in the sun, and his shirt was soaked with sweat. Jiaozui invited the grandfather to buy a cold Cola in the shop, but he forgot her purse at home. It turned out that this is not important — the boy took his grandfather’s smartphone and called the payment app with a QR code on the screen.” ©
What to say if QR codes are used even to identify entire farms. By pasting QR codes on farm buildings and then scanning them, government inspectors can quickly figure out who owns the building and whether its owners are violating any laws.

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We must be on the trend! Now a special library generates QR codes for the desired page, any tab on the site tkeycoin.com in Chinese and Korean-accompanied by a QR code that leads to the requested page: fast, convenient, and simple.
https://preview.redd.it/73rscop3we151.png?width=700&format=png&auto=webp&s=c83229e56d612450370b43b06910225701454c60
Providing this opportunity to our colleagues and future users of Tkeycoin from Asia is a friendly approach and most importantly, a strategic step on our part. After implementing QR codes, we are undoubtedly drawn into the convenience of this function, which we recommend to You:) If you like it, we will make QR codes on the Russian and English versions of the site.

Buying and withdrawing cryptocurrency to a Bankcard


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On the site, you can now buy Bitcoin for pound, dollars, euro, and any other currency. This is a powerful automated service for instant exchange of fiat currencies for cryptocurrencies. The system works around the clock and seven days a week, allowing everyone to conduct exchanges at any time of the day and in the shortest possible time.
Withdrawal to a Bank card will be available until the end of the month, we finish the details, the page is available now, and the withdrawal itself will be activated during this week. You can buy Bitcoin, Ethereum, or any other currency right now.

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These features are the future for the function of purchasing any product or service for TKEY at any point of sale, which will form the basis of the mobile app, quickly, conveniently, and most importantly, observing the letter of the law.
All we do is build an Empire that is being built before your eyes. Every service and product is connected, so any update promises the appearance of even more cool and effective features than before.

Buying cryptocurrency for pound, dollars, euros, and other currencies

At the end of February, we told you that we are working on building a payment service that will include the provision of services: buy cryptocurrencies, sell a cryptocurrency, withdraw cryptocurrency to Bank cards, etc.
This day has come, now you can buy Bitcoin (BTC), Ethereum (ETH), Tether USDT, Basic Attention Token (BAT), Algorand (ALGO), Tron (TRX), OKB (Token Okex.com).

https://preview.redd.it/1pm2cnv8we151.png?width=700&format=png&auto=webp&s=69473d2e5ed1b8dc75189362b46906752be29895
The purchase is available in any currency: Russian ruble, US Dollar, Euro, British pound, Ukrainian hryvnia, Indonesian rupiah, South Korean won, Japanese yen, Turkish Lira, Argentine peso.
As you can see, the currency corridors are quite extensive, which allows you to make exchanges fast and at a favorable rate. Just choose the right pair to exchange or buy, available fiat currencies: RUB, USD, EUR, GBP, UAH, IDR, KRW, JPY, TRY, ARS, available cryptocurrencies: BTC, ETH, BAT, USDT, ALGO, TRX, OKB.
Even if this wide list does not include the currency you want to buy, such as Bitcoin or USDT, it’s okay — the service will automatically convert your currency into the payment currency and the Bank will make the exchange. Exchanges take place within 1–3 minutes, it is enough to pass quick verification once, which allows you to work with a volume of > 15,000 euros per month.

https://preview.redd.it/0ln5uttawe151.png?width=700&format=png&auto=webp&s=35de9e413db35bb53f39332aa4197cd54a3e211c

Exchange of cryptocurrencies for pound, dollars, euros, and withdrawal of Bankcard

In addition to the fact that you can now easily buy a cryptocurrency for fiat currencies, pound, dollars or any other, during this week we will finish work on the withdrawal to a Bank card and you can easily withdraw your profit to the card, the most important thing is that this is a completely legal method, and all operations pass through banks and jurisdictions where work with digital assets is legalized.
This means that when you buy or make a withdrawal to the card, you get legal funds that are credited to you by the Bank or payment system.
If you are used to working with effective tools that work in a new way, or rather correctly and legally, then this service is for you. Fast crediting, easy exchange, a large selection of currency pairs, that’s what the company is betting on.
We work with the most reliable third-party partners to make your cryptocurrency process easy and convenient, and most importantly safe for You. The service supports plastic and virtual Bank cards VISA, MasterCard, MIR, and other payment systems for fast payment processing.

https://preview.redd.it/x1jnm1ccwe151.png?width=700&format=png&auto=webp&s=f86fc353ad5f207db8d233821204b521ba0b3d0e
On the exchange page, you can choose any currency pair to exchange in the opposite direction, for example, GBP to BTC or USD to BTC. Choose a suitable pair for exchange, available fiat currencies: RUB, USD, EUR, GBP, UAH, IDR, KRW, JPY, TRY, ARS, available cryptocurrencies for exchange: BTC, ETH, BAT, USDT, ALGO, TRX, OKB.
How it works
When buying cryptocurrency for the first time, your Bank reserves (holds) the requested amount, then this amount is transferred to the authorization waiting state. As soon as the Bank freezes the fiat funds, the service fixes the exchange rate at the time of creating the application, reserves the cryptocurrency, and provides you with 30–40 minutes to complete verification. After successful verification, the service charges cryptocurrency to the wallet.

Quick verification

Verification takes 2–3 minutes and requires only one time to perform operations every day. The “Know Your Customer” (KYC) procedure is necessary to exchange cryptocurrencies for fiat currencies.

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As you understand, you need to pass verification 1 time, regardless of whether you withdraw funds or buy currency, after passing verification, all services are available to You without any further confirmation.

New currency

Support for other currencies, including TKEY, will be added gradually and highlighted through service updates. As for the TKEY exchange, it will become available in exchange services after listing on the exchange. Listing on an exchange allows you to automate the exchange process, link the necessary services, and most importantly, the exchange provides liquidity, which is key when we talk about exchanging for a particular currency.
We will tell you more about the operation of the service and its advantages, chips, in a separate material dedicated to the withdrawal and purchase of cryptocurrencies for fiat currencies, as well as touch on various banking issues and tell you how you can combine the SWAP service for more efficient exchange and withdrawal to the card.

Charitable activity

By making an exchange or purchase of cryptocurrency, you help children and people who need our help. We deduct 0.1% of the profit from each transaction to charity funds.
This is the fastest and most comfortable way of charity, which allows you to bring together people who are not indifferent to other people’s problems. TKEY enables people to do good deeds, and the resulting turnover profit of 0.1% is sent to charity funds every month. Together with You, we create new opportunities for people in need who need help — “Big things have small beginnings”.
How does it work?
You have made an exchange or purchase operation, the company has accumulated the volume of these operations for a month->the company has chosen a charity Fund->sent funds to the charity Fund’s account. Priority charity funds are children’s aid funds. You can always suggest a candidate for a particular Fund by sending a message to [[email protected]](mailto:[email protected]).
Why do we write Funds and not a Fund?
This is the first launch of the service, so depending on the monthly volume, we will focus on distributing funds to one charity or several. For example, if we have accumulated $ 10,000, we can distribute $ 5,000 to 2 funds. if we have accumulated $ 100, it is logical that we will only send this amount to 1 Fund. With the development of the service, we will be able to focus on several funds, which we will actively help due to the received volume.

New sections, improvements for existing services

Menu logic and site structure

The menu logic has been revised. now more items are available on the menu and they are divided into sections. Navigation through the sections has become much easier and more convenient. for some sections, QR codes are available for Russian and English-speaking audiences, and for representatives of Asian countries, all sections are available by QR code.

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TKEYSPACE Promo Page

New blocks were added, the entire page was fully localized and is available in Chinese, Korean, English and Russian, and QR codes were added for easy navigation for the Asian audience.

Documentation for the exchange

We have already mentioned that there is a section for exchanges with the necessary documentation for listing, now it is available in English. In the next updates, it will be translated into Russian, Chinese (Traditional and Simplified), and Korean.

Market Data (Coin Data)

The market data section has been optimized for mobile apps. Charts are expanded and optimized page borders for most mobile devices, and you can search for cryptocurrencies and tokens that interest you.

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FAQ

Added answers to frequently asked questions in various sections of the site, You can find the information directly on the section page, for example, TKEY-QT, SWAP or Core. Right on the page there is a FAQ section, in which we disclose answers to questions, for example: How are You going to solve the scalability problem, or why did you choose Phoenix as the logo and symbol of the project, or how do you exchange cryptocurrency for pound or dollars? As you can see, you can get answers to different questions, depending on the topic of the site section.

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Footer

For convenience, the site’s footer has been expanded and new sections (quick tabs) are included, which are also available in the QR-code format. In addition to various details, the footer is now accompanied by the company’s coat of arms — the Phoenix, which is the symbol of the entire community, the Phoenix Alliance.

https://preview.redd.it/xija83vjwe151.png?width=700&format=png&auto=webp&s=dd7ce476b53ebe2a891d32231725650bac7ba181

Page 404

Added page 404, which is also an integral part of the site. now when you go to a non-existent site page, all the necessary menu items are fully available to us, which will quickly Orient You and direct you to the desired section.

https://preview.redd.it/i8f7qi9lwe151.png?width=700&format=png&auto=webp&s=02449b35c631bcb0667336edb4f912cbcf1dfb58

What is waiting for us in the nearest future?

In addition to various improvements, connecting services, our team has been working every day on other main areas of the Tkeycoin project, which are already being prepared for the next release and we will tell you what updates, what plans, events, and what else will be interesting this year.

Online conference with management

An online conference in question-answer format will be organized. The main task of the conference, in addition to questions and answers, is to discuss plans, talk about new directions, touch on issues of legislation, and analyze current issues of users.
The online meeting format will allow you to get feedback and discuss a large number of issues in a short time. Questions related to technical support and other questions that can be answered through the administration will not be discussed.
The meeting involves the development, constructive, and suggestions from users for further development of the Tkeycoin project. If you are interested in participating in the conference, you can also make business proposals during it, please use the time to your advantage. We work for you.

New content: reports, new categories, useful information

Based on user feedback, we introduce new categories to our content plan:
Reports This section will be accompanied by information about the work done by the team for the month, the format of submission — abstracts, highlights. This format will help establish feedback between users and developers.
Question-answer
In addition to the content that we produce ourselves, users have questions that arise during the process of working with the project’s services, as well as during interaction with the project itself. To avoid making guesses and making up stories, we have introduced the question-answer category.
Users ask questions in comments, and the company prepares answers based on the questions and they are published in the post. Depending on the number of questions, the post generates all the answers, or the post is divided into parts if the number of questions for the past period was the largest. In addition to asking questions, you can make suggestions to the project, for example, about new features or directions.
This format also builds feedback and helps to improve all services. the most important thing is that it can not only help us but also you, as the offer and questions will help you focus on the tasks that the end-user wants to see.

TKEY-POOL (Tkeycoin pool)

We are completing the work and debugging of the official pool for Tkeycoin, this is a completely new approach for mining Tkeycoin. The pool will feature higher performance and stable architecture, a light interface, and objective commissions.
A pool is a highly loaded system that works 24/7/365, it turns out that such a product hides a sufficient number of lines of code and, most importantly, is built on a reliable architecture that can withstand +50000–100000 miners, not to mention the number of connected devices for this number of miners.
A cryptocurrency pool is a combination of the hardware power of many miners at once to increase the probability of finding a block. The reward for a block obtained by the pool is distributed among all participants.
The TKEY pool is developed taking into account the features of the Tkeycoin blockchain, including multi-blockchain, transaction model, hashing, blocks, and other nuances that are an upgrade of the blockchain among others. Together with the pool, the TKEY network is being tested: high loads, attacks, and other tests that show positive results, proving that the TKEY blockchain can work under any loads and is protected from attacks.
Our task was to: 1. Stable system for handling high loads; 2. Adaptation pool for any software; 3. Connecting any hardware for mining cryptocurrency Tkeycoin; 4. Fair remuneration calculation; 5. Security.
The main goal is for any user, regardless of the software and hardware used, to be able to connect to Tkeycoin mining via a pool. The first releases will be accompanied by a simple user-friendly interface, easy connection, instructions for various mining programs that can be connected.
In future releases, we will optimize the operation of the pool, add new features, as well as tracking functions and other nice things. any suggestions from miners and the community are interesting to us and will be implemented, so do not hesitate to send your suggestions after the launch.

TKEYSPACE updates


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Work on the TkeySpace mobile app is also not standing still. We will soon release updates for TkeySpace on Android and iOS.
This release is a complete transition to the most stable version of the mobile wallet. This means that after the update, even with the largest changes, the user will not need to completely reinstall or restore to use the new features, as before, just update the app via the AppStore or GooglePlay.
Between the previous update has been a sufficient amount of time, on average, updates are released once a month. This update will be one of the major ones. We are finishing work on the code to prepare the app for the new features that will be available this year. Besides, we are improving the app’s logic, data processing speed, optimizing the code, restoring order, and preparing for the global market.

Exchange, purchase of cryptocurrency and withdrawal to the Debit/Credit Card


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In addition to pleasant optimizations, the app will display the exchange and withdrawal to a Bankcard, tab with an optimized page for exchange, withdrawal, and the purchase will be available directly in the mobile app. This upgrade will also capture the cryptocurrency exchange SWAP page, which can be evaluated after the update. Other features and new features will be announced by the developers immediately after the release.

SWAP Update

The development team is finishing work on optimizing the SWAP service. Regardless of updates, it is available in working mode 24/7/365. The team is working on improving the operation, optimizing the page, changing the interfaces, improving navigation, and speeding up query processing. This update is also among the upcoming ones, along with the pool, mobile wallets, and other news that will excite.

Network Statistics

In the network statistics section, there are several sections that will be fixed — this is the hash rate of the network and the volume of Tkeycoin. Now the volume of Tkeycoin is displayed by mTKEY, and the graph itself indicates M TKEY, the user may incorrectly understand the volume of transactions in the network, so, given the current volume, it is advisable to switch the display to TKEY, and in the future switch to mTKEY for large volumes.
TKEY is divided into cryptograms (CryptoGramm, cgr), uTKEY (keys), and mTKEY. 1 TKEY = 100 000 000 cryptograms. 1 mTKEY = 100,000 cryptograms. 1 TKEY contains 1000 mTKEY. 1 mTKEY = 0.00100000 TKEY 1 uTKEY =100 cryptograms 1 TKEY contains 1,000,000 utkeys. 1 uTKEY (keys) = 0.00000100 TKEY 1 cgr = 0.00000001 TKEY

Cryptocurrency Exchange

This issue has become the cause of mass discussions, disputes, investigations, the subject of memes, kitchen, and online conversations, that just did not happen, that TKEY is not taken anywhere, someone made guesses that we are waiting for everyone to run away, or TKEY is a world conspiracy and around some actors, you can write a book or shoot a great series, not worse than Breaking Bad.
Jokes, jokes, but the question is serious. Since the 4th quarter of last year, the company has been actively working on the issue of listing, prepared the necessary platform for this, held several meetings, negotiations, released the necessary products, figured out various transfers of funds to the blockchain, worked out many small things, many major issues that were behind the scenes. Everything is ready, and it’s time to start soon. This will be a surprise, believe it or not, and we will meet you on the stock exchanges :)

What other plans does the company have?

Enabling payment at retail outlets

After entering the exchange, we will actively engage in connecting payments to implement them and link them to TKEY. The plan, strategy, and legal component are ready.

Payment development

This implies the development of payments and services that will expand the use of digital currencies in the commercial sphere. Application on the territory of Russia will depend on the Federal law on the CFA, in any case, we plan to analyze the law, after its release, to find a legal way to implement payments based on blockchain and digital assets. Therefore, until the law is released, we are keeping this initiative in the future, and we will work on other jurisdictions that will support it.
We left some plans behind the scenes, because they will make the greatest impact on the market and the value of our asset, and this — likes silence.

What useful materials will be released soon?

How to effectively use the SWAP service together with the exchange and purchase of cryptocurrency from a Bank card?

We will tell you in detail how to use these 2 services, how to save on payments and purchases, how to exchange tokens that are very difficult to exchange, how to quickly get money for them to the card, and much more.

The law CFA

Our opinion about the law of cryptocurrencies in Russia, what to pay attention to, what to prepare for, how to act if there is a complete ban. Let’s talk about legal nuances and banking practices.

TKEY blockchain

In this material, we will talk about the blockchain, analyze the issues of the system, expand the questions on attacks, payment processing, and touch on the system of multiple chains. The article suggests your suggestions, perhaps someone will have ideas that we will implement in the chain.
At the end,
Don’t forget to ask questions in the comments or send suggestions to [[email protected]](mailto:[email protected]) we will be happy to respond and consider your requests for any of our services. Collaboration, feedback, help us make the whole platform better.
Thank you for being with us! Until new meetings, stay tuned for news, updates, because the most unexpected news comes spontaneously.
submitted by tkeycoin to Tkeycoin_Official [link] [comments]

End of day summary - 08/12

The Dow fell 391.00, or 1.49%, to 25,896.44, the Nasdaq lost 95.73, or 1.2%, to 7,863.41, and the S&P 500 declined 35.95, or 1.23%, to 2,882.70.
The stock market fell more than 1% on Monday, as uncertainties about the global economy continued to push investors away from risk assets and into safe-haven assets like U.S. Treasuries and gold. The S&P 500 fell 1.2%, which was comparable to the declines in the Nasdaq Composite (-1.2%) and Russell 2000 (-1.2%). The Dow Jones Industrial Average lost 1.5%.
U.S. corporate and economic news was sparse on Monday, which helped attention focus on the government protests in Hong Kong, the political instability in Italy and Argentina, and the lack of improvement in U.S.-China trade relations. Economists from Goldman Sachs added to the sour mood, stating that they are not expecting a U.S.-China trade deal before the 2020 presidential election.
In other words, Monday featured plenty of negative-minded speculation, although it was understandable given the amount of negative developments around the world and the lack of good news. Perhaps the most startling development in the capital markets was the persistent decline, and compression, in U.S. Treasury yields.
This compression in yields not only hit investor sentiment but was also affected the S&P 500 financials sector (-1.9%), which led all 11 S&P 500 sectors in losses. Banks typically rely on healthy net interest margins to boost profit and facilitate lending activity. The other rate-sensitive sectors -- real estate (-0.3%) and utilities (-0.3%) -- outperformed but still finished lower.
An inversion of the 2-10 spread is widely viewed as a recession indicator, although an inversion does not necessarily predict one.
Markets in Argentina were reeling on Monday after President Mauricio Macri, who is known for being pro-business, lost a primary election on Sunday. Argentina's peso had weakened about 25% against the dollar in early trading amid investor concerns about the potential return to power of Argentina's Peronist movement under Alberto Fernandez and his running mate, former president Cristina Kirchner. Fernandez has pledged to undo many of Macri's market-friendly policies and the surprising primary results has been followed by sharp slides for many stocks linked to Argentina that trade in New York, including MercadoLibre (MELI), Banco Macro (BMA), Despegar.com (DESP), Grupo Financiero Galicia (GGAL), Loma Negra (LOMA), Pampa Energia (PAM), Telecom Argentina (TEO), YPF (YPF) and Arcos Dorados (ARCO).
Among the notable gainers was ROKU, after Needam analyst Laura Martin raised its price target to $150 saying Netflix “has the most to lose. Also higher was AMGN, which gained 6% after a United States District Court judge in New Jersey ruled on Friday in the company's favor in a patent fight with NVS. Shares of MU were on the rise in late trading on Monday as the company's CFO said that "demand has come back".
Meanwhile, CPB was in focus after Sky News reported that Valeo Foods Group is in advanced talks to acquire Campbell's Kettle Foods operations in the U.K. and Ireland. The deal, which could be reached in the coming days, is expected to be worth more than GBP50M, according to Sky. The news comes after Campbell Soup announced earlier this month that it signed an agreement to sell Arnott's and other international operations to KKR for $2.2B in cash.
Additionally, New York Attorney General Letitia James said via Twitter that Oregon has joined her state's lawsuit to block the merger of TMUS and S. James added in the tweet that the coalition involved in the suit includes 16 states. A New York AG spokesperson told Dealreporter last week that the office was in talks with a "handful" of other states that were considering whether to sign onto the lawsuit.
In Asia overnight, stocks were mostly higher, with the China CSI 300 rising 1.8%, while Japan’s Nikkei 225 added 0.4%. Hong Kong’s Hang Seng Index HSI meanwhile lost 0.4%. European stocks were trading lower Monday, down 0.2%, as measured by the Stoxx Europe 600.

Currency

The U.S. dollar index was roughly flat on Monday and sterling and the euro saw a modest rise as the foreign exchange market fell into an August lull, a traditionally quiet trading period with many investors and traders on vacation.

Treasury

U.S. Treasuries spent the Monday session in a steady advance, pressuring the 30-yr yield to a fresh low for the year while the 10-yr yield approached its low from last week. The daylong rally was not fueled by a particular news catalyst but was rather a function of disappointment over the lack of an improvement in the official relationship between China and the United States.
The spread between the 2-yr and 10-yr yields narrowed to six basis points, as demand for longer-dated tenors continued to climb amid growth concerns. The 2-yr yield fell five basis points to 1.58%, and the 10-yr yield fell ten basis points to 1.64%. The U.S. Dollar Index declined 0.1% to 97.43.

Commodity

Oil prices rose on Monday despite worries about a global economic slowdown and the ongoing U.S.-China trade war, which has reduced demand for commodities such as crude.
Corn and soybean futures both fell sharply Monday after the U.S. Department of Agriculture's August production estimates projected larger-than-expected crops following an extremely wet spring that severely delayed corn planting, followed by dry conditions across much of the Midwest. Corn for December delivery CZ19 on the Chicago Board of trade fell 25 cents to $3.9275 a bushel, a decline of 6%. November soybeans SX19 dropped 11.5 cents, or 1.3%, to $8.8075 a bushel. The report estimated that U.S. farmers would produce 13.9 billion bushels of corn, down 4% from last year but larger than analysts had expected. Soybean production is forecast to fall 19% from last year to 3.68 billion bushels.

Crypto

YTD

  • Nas +18.5%
  • Spoos +15.0%
  • Rusell +10.8%
  • Old Man +11.0%

What's tomorrow?

  • Investors will receive the Consumer Price Index for July on Tuesday.
Summary scraped from the interweb. Took 0.11 seconds.
submitted by hibernating_brain to thewallstreet [link] [comments]

Some crazy, awesome math for you guys

bitcoin, bitcoin, bitcoin
Halves every 4 years.
Price is function of demand, with consistent demand, and no speculation or outside influence, price grows at 19% per year.
1 -> 2 -> 4 -> 8 is a 19% rate of growth.
Volatility is the two-way function of price.
Bitcoin is computationally fixed, more predictable than Gold, Fiat, or any other asset known to man - fixed at 19%, with flat demand, flat counter-party influences, 100% unalterable, 100% auditable, 100% known.
Regardless of opinion, Bitcoin is more fixed and unalterable, at 19% annualized growth, than any other major store of wealth, in existence, ever - everything flat, society goes linear.
What is also fixed? Time. X.
Bitcoin is Time when graphed.
Meaning, all volatility is due to either change in demand or change in outside influence, never, ever a change in Bitcoin - it is the pole upon which Archimedes stands.
Now let's think of the counterpoint, and how Bitcoin is used. For this we will get deep and practical. Bitcoin is not mana, you don't buy a little every day (that is dumb) : Bitcoin is a bank, a reserve. You buy a bunch of it, and devy it out as you deplete. So every new buyer of Bitcoin has some scaling function, whereby savings transfer into Bitcoin, until Maxed, and then if Income < Costs, they pinch out to deplete.
The importance here is 19% is inferior to VC moneybags investing, the purchase of tools, the hiring of a tutor, or the micro-investing into side-hustles; but for the passive, index investor, it reigns supreme.
Now let's get deeper. The square root of Bitcoin is South America, Africa, Asia, and the island nations - the colonialized, and oppressed.
Is it America, is it Europe, is it Communist? Unimportant - it could be the distablization brought on by nature: in any country in which localized Fiat is untrusted, it is setup to pay tribute to a colonial power (such as propagation of USD), or run risk of being debased.
The cost of a 51% attack is X, reward more than. Imagine outsiders bring war to Iraq to remove a dictator and acquire oil. In such a case, currency gets debased, commerce halted, and it is the unintentional consequence of a side-quest. People of Iraq live and die, accidentally trampled without malice or profit.
Bitcoin saves that.
Now if colonization is an objective, and part of the business plan for say the US government is to destabilize Argentina, Turkey, or whatnot - with the hope either they choose to propagate USD, or they pay USD men to provide "insurance" and if not their money gets debased - kinda like a mob, everyone needs a bit of mafia in their life, if only to discourage future suitors.
In the event Bitcoin is known, a tortured society can collectively starve-off profits; making those that make money by charging a Colonial Management Fee, make less. Less expectation, less investment. All peoples within a danger zone for rapid debasement can optionally support a known mafioso, Bitcoin, or in the event the destabilization is a cause of nature, their nearest sovereign-currency provider (EU, US, GBP).
Once one currency is debased, it is unwise for a population to 'invest' in its replacement. Either it could be contrived, or at a minimum it is untested. Investing in ones local currency should be done at a minimum "whatever you can afford to lose", if it faces significant risk of debasement, or conversely could be used as a hidden-payoff to mobsters. Alternatively one can think of holding local speculative currency as a 'charitable giving', of sorts.
Here, Bitcoin is merchandising.
Here, Bitcoin is daily spending.
The wealth of this customer is paltry, the need sudden, and excessively sharp. They are a refugee - but unlike a migrational refugee, they can flee 'over the internet' so to speak. So, if ones supply chain remains intact, in theory one could swap Debased Dollar for Bitcoin, without any economic loss - loss in the progress of things, stalling of good transfers, services rendered, etc - this is not possible with USD, EU, GBP - sovereign dollars require approval - you got to pay a fee, get a license, ask permission, beg approval to use currency of outside sovereigns.
And what is your boss to think if you go cheating on him with USD? Maybe USD don't want to get into that mess. Maybe USD wants to allow a grace period post-breakup so that Angry X Dictator don't get the wrong idea.
But not Bitcoin.
Now this utility, or function of Bitcoin - Bitcoin is a first-mover into any population experiencing currency destabilization.
But, we got a problem. Bitcoin is volatile, both up and down. This customer must sell daily, and must purchase suddenly, unexpectedly - price can not be a factor.
So now you are seeing the two-sides of the coin of value.
One is shook demand from localized destabilization, and the second is a savings vehicle for the passive investor.
Those in shook need to minimize downside risk and high merchant utility, while those into passive saving move large amounts in, slowly, locking it down for a 4 year holding cycle.
Thus, savers can benefit those in distress by focusing on stabilizing price, into 4-year cycles, while those in distress can benefit themselves and reduce global tension by avoiding 'puppet currencies' of no material strength.
19% is the flat demand growth rate - 0% population growth, 0% inflation, 0% raises, arrested technological progress, if cost-of-thriving index stays flat, along with cost of living, and Bitcoin demand stays fixed, and price if perfectly predicted, Bitcoin grows at 19%, annually.
If one presumes a combined population + tech development + inflation of more than 0, then Bitcoin grows more. But this is misleading... Bitcoin consumes $6.5 Bil annually at a $10,000 value.
This is a fixed number, not a percentile.
If one says Monetary Growth is 5%... of 20 Trillion, then that is 1 T more dollars. Monetary Growth does not increase war, but it does increase funding for passive investments, like Bitcoin - for the Savers, Bitcoin is a luxury good; like 401k percentages or vacationing.
You buy Bitcoin with the expectation of 100% rate of return per US Presidential Cycle (19% per annum).
If New Money is saved in Bitcoin at a rate of 1%, then a 1 T increase is a $10 B increase in demand, stabilizing at over a 100% increase in price.
So we got:
A fixed amount of Old Money, moving into Bitcoin for passive investing with expected rates of 19% - this is done slowly, with a 4 year horizon. This money has extended time preference and sophistication, allowing it to stabilize price.
And then we got a % of New Money, which is more like a luxury good, that moves into Bitcoin with a leveraging of easily 100 to 1. This money would be highly volatile, as it would be most like to come out all-at-once after a negative experience from a short trial.
And lastly, one has the distressed, who have but a short time to learn about Bitcoin, buy Bitcoin, and have every merchant with whom they interact with accept Bitcoin - to achieve peace. For them, mild fluctuations are like a grocery store increasing their prices 8x over a year, and USD is off-limits - Bitcoin is a necessity, must be instantly accessible, and must be instantly spent.
Downward movement of 10% in any given month, or any given week, might prove hazardous for business. Prices, and exchange rates, could still be established in USD, but the actual exchange of value can occur in Bitcoin.. Remember, it is not USD Bitcoin is replacing, but Debased Economies Off-limits to USD - refugees, who want to build instead of migrate, and couldn't before without transferable money.
Bitcoin fell 80% in 1-year, which can destroy a business, but a New Money investor of 2-years should of at most lost only 50%, and presumably after 4-years they should up - and all Old Money investors should be up, if not partly cashed out with 1,000% returns.
So now we got this weird dynamic where as Bitcoin becomes less negatively volatile annually, it becomes more attractive for New Money, and as it becomes less volatile monthly, it becomes more attractive for the distressed - this new demand creates prices jumps, benefiting Old Money, whose responsibility it is to sell and rebuy intelligently to amplify profits, but also in order to increase the long-term usefulness of Bitcoin.
For the coming US Presidential Cycle, we may aim to reduce total negative volatility from 80% to 50%, over a multiyear period and monthly negative volatility from 60% to 30%.
The more linear the growth, the more exponential the demand.
Old Money must strive to stabilize the price of Bitcoin, both for themselves and for the hurting.
Creating price stability within Bitcoin is charity.
It is Kindness. It is a social love.
If anyone reads that, hope they enjoyed the journey.
Bitcoin 1776
submitted by Bitcoin1776 to Bitcoin [link] [comments]

A summary of QASH and why I believe it will serve a pivotal role in the growth of the cryptocurrency market worldwide.

SIDE NOTE: DO NEVER EVER LEAVE YOUR CRYPTOCURRENCIES ON QRYPTOS & QUOINE. WITHDRAWAL TAKES SEVERAL DAYS AND IN SOME CASES LONGER THAN A WEEK LATELY. MANY PEOPLE HAVE BEEN HAVING HUGE TROUBLES
 
DISCLAIMER: I'm not affiliated with this project in any way. Don't take this as actual investment advice at face-value, but rather a comprehensive summary I put together based upon my own findings, research, and personal insight about the project. As always, if you do wish to invest, please DYOR beforehand and make your investments based upon your own assessment of the project.
 
 
The token is called QASH (by QUOINE) and it essentially serves as the financial utility and payment token for QUOINE's upcoming Liquid+ platform and all services which it provides. I haven't actually seen much talk going on about this anywhere, and to me, it's sort of baffling how seemingly under-the-radar this has been flying, given the problem that it's going to be solving in the cryptocurrency space.
 

The Problem

The platform that they've built is super intriguing to me as a cryptocurrency trader due to the fact that it's aiming to fundamentally solve a huge, yet often overlooked problem in this space: illiquidity. This really excites me because in my personal experience (and I'm sure for many others on this sub who are stuck trading with minor currencies), attempting to purchase BTC, ETH, or other tokens with a fiat currency like say, GBP, is just downright painful and usually ends up in an immediate loss since there are significantly fewer buyers and sellers in the relevant GBP markets than say, USD markets - and thus the market price can tend to slip easily in either direction even with relatively small trade amounts (as a result of high spreads).
 

The Solution: Liquid+

Now imagine the case whereupon this problem doesn't exist — where anyone around the world, whether it be individuals, institutional investment, businesses, etc., would always be able to have immediate access to highly liquid cryptocurrency markets, and not be subject to an inherent disadvantage simply by virtue of the specific fiat currency they're using to trade with or one particular exchange that they're trading on.
 
This is a landscape which the Liquid+ platform will be able to render to the cryptocurrency economy, and what I think solving this problem will ultimately mean is that we'll start to see a much more global influx of individuals and institutions coming into the cryptocurrency space because a massive, worldwide liquidity pool will have been created through the Liquid+ platform. Essentially, the platform will enable minor currencies such as the Rupee, Peso, Pound Sterling, Thai Baht, whatever it is you name it — to be traded with on the same level of liquidity that a major currency (e.g. USD) does. This is the function of what they're calling the "World Book".
 

World Book

The World Book essentially is a global aggregation of orders sourced from many different cryptocurrency exchanges (i.e. "liquidity silos"). Orders which are placed from within any of the connected exchanges can be simultaneously published into the Liquid+ platform and be matched with orders from a completely separate exchange. What's even more fascinating about this is that these matched orders aren't even necessarily required to be of the same trading pair.
 
So for instance, a trader who intends to make a btc-yen trade can be automatically matched up with another trader making a totally separate trade say, eth-euro, just by virtue of the world book internally executing a two-step transaction in order to "hop" from the euro trade to the yen trade. It's important to note that this entire process all happens seamlessly and is transparent to the end-user. Each trader would see every other traders' orders denominated in their preferred quote currency (even though the orders may actually be based on a different quote currency on the other side), meaning that the world book is "currency-agnostic" amongst all orders.
 
Performance-wise, the platform is deemed to be capable of handling over a million of these orders / FX-conversions per second, and is built upon a set of already established and tested technologies developed by QUOINE. As a result, much of the platform is actually already in place, and the integration work with many of the world's largest cryptocurrency exchanges are already underway or have been completed.
 
Additionally, here's a great explanation of what the World Book can do as described by Andre Pemmelaar, who is one of the architects of the platform. Further high level explanation by QUOINE CEO Mike Kayamori.
 
Another important point to note on this is that there's generally a big incentive for exchanges to participate in this World Book, as it will be able to funnel in substantially more trading volume from the markets of other exchanges.
 
In my mind, the World Book will no doubt be an absolute game changer to this space when it hits. However, there's another equally, if not more substantial component to the platform:
 

Prime Brokerage

Liquid+ will act as a Prime Brokerage service, and it will be the first of its kind in the cryptocurrency space (by which QUOINE is officially licensed by the JFSA, one of the strictest regulators in the world). One way you can think of it, is that this could effectively make Liquid+ into the Goldman Sachs or Morgan Stanley equivalent of the cryptocurrency space, and it's in fact aiming to become the platform upon which major hedge funds and institutional investors around the world will prefer to leverage in order to mitigate counter-party risk (such as a particular exchange getting hacked and losing funds), manage and move large amounts of fiat capital, as well as take advantage of the globally sourced liquidity pool provided by the world book.
 
To me, it makes perfect sense to have integrated, seeing as many of the major reputable exchanges around the world will have already been interconnected through the Liquid+ platform. Ultimately, it means individuals as well as major institutions coming into this space will no longer be required to deal with the pain of managing numerous individual accounts across multiple exchanges and transferring funds between each. Instead, Liquid+ allows its users to be provided with direct market access to the liquidity and trading pairs yielded by all associated exchanges in a single platform, and on a single account. By now, you can probably start to imagine just how attractive this is going to be for the major institutional players coming into this space, and on an international scale.
 

User-Generated Trading Strategies

Another intriguing feature is that once the QASH blockchain is implemented, the platform will be able to facilitate the authoring of custom-written automated trading strategies and algorithms by any of its users (including individuals as well as institutions), utilizing a variety of mainstream programming languages. These strategies can then be published to the platform and shared amongst other users. The profits yielded by these trading strategies are subject to fees which are then paid back in QASH to the authors of those strategies.
 

QASH Token Value Proposition

The value of the QASH token is proportional to the scale of its utility and velocity of usage. For starters, QASH can be used for payment on the Liquid+ platform for everything including trading fees, fees on profit from automated trading strategies (as described above), fiat / crypto credit lending, and for all other services that it renders. QASH can also be used as payment on QUOINE's other products: Quoinex and Qryptos. Additionally, users who elect to pay using QASH on these platforms do so at a discounted rate on fees.
 
Another important point to note here is that QASH will be used to fuel payment for all services rendered by the Prime Brokerage. So for instance when institutions start to utilize the platform, it means that this money will start to flow through the QASH token as well.
 
But I think perhaps the bigger and longer-term value proposition for QASH is the fact that it's striving to become the "Bitcoin or Ethereum of the financial services industry", meaning widespread adoption of QASH as the preferred cryptocurrency for use in financial institutions. As more and more of these institutions seek to gain a foothold in the blockchain space, they're going to be looking for cryptocurrencies that maintain trustworthy backing and have the appropriate governmental regulation / security frameworks set in place. QASH aims to fulfill this role and is in fact officially approved as a cryptocurrency by the Japanese government. Moreover, QUOINE is the only cryptocurrency exchange company which is audited by a "Big Four" accounting firm.
 
QASH is initially built upon the ERC-20 token standard, but will eventually migrate to its own blockchain by Q2 2019. As opposed to Ethereum, the blockchain will incorporate sophisticated tools and services which are geared specifically toward usage in the financial services industry (read more about these here). Having this inherent support for many financially related functions will be paramount for wider adoption as a token of preference, as QASH seeks to bridge the gap between traditional finance and the cryptocurrency economy.
 
With adoption by the financial services industry, the value of the QASH token can then be expected to continue increasing as a result of its ever expanding utility and usage.
 
Additionally, here's an explanation of the QASH blockchain as described by Andre.
 

Brief Company Background (QUOINE)

QUOINE is a profitable and established FinTech company (over 250 years of combined FinTech experience) who have built Quoinex, one of the top ranking exchanges in the world by volume, as well as Qryptos, a token-to-token asset exchange and ICO platform. Quoinex is one of the largest fiat-to-crypto exchanges in the world with $12 Billion in annual transactions. They are the first global cryptocurrency firm in the world to be officially licensed by the Japan Financial Services Agency (License 0002) and has as a "Big Four" external auditor.
 

Leadership

What gives me confidence that QASH may succeed in becoming widely adopted by financial institutions is that the company is lead by those with strong financial leadership. QUOINE's executives hail from the financial services industry, many of whom have served executive positions at some of the biggest financial institutions in the world.
 
Detailed information about the executives and board directors can be found on the Liquid+ website (or in the whitepaper) so I won't list them all out here for the sake of conciseness, but many of them come from executive positions at major institutions including:
 
 

QASH / Platform Investors

Again, a full detailed list can be found on the Liquid+ website. Investors in the platform and QASH ICO include those who have executive leadership roles at companies such as:
 
 
Additionally, Mike had announced in his video AMA a few other notable investors in the ICO who aren't listed on the website:
 
 

Liquidity Partners

The platform of course needs a lot of liquidity partners from around the world participating in order for the system to function worthwhile. Andre discusses their numerous liquidity partnerships in this video, so I'll simply summarize:
 
 

Other Tidbits & Speculation

 

TL;DR

QASH, in the long-run, ultimately aims to become the standard preferred cryptocurrency used by financial institutions worldwide, the value of which is derived from the scale of its utility and widespread usage. The QASH token is also used to fuel payment for fees and services in QUOINE's trading platforms, one of which is an upcoming platform called Liquid+.
 
Liquid+ is a novel platform which I think will change the landscape of the cryptocurrency space. It builds a single massive global liquidity pool called the World Book which allows minor fiat currencies (e.g. Rupee, Peso, GBP, etc.) to trade crypto with the same liquidity that a major fiat currency (e.g. USD) does, significantly reducing losses due to high spreads, and ultimately provides the liquid on-ramp necessary for many potential untapped markets worldwide.
 
The platform also features a Prime Brokerage service (first of its kind in crypto) which will allow users direct market access to many exchanges throughout the world without the hassle of having to manage accounts on each, which mitigates counter-party risk. The Prime Brokerage service will be an attractive vehicle upon which major institutional investors will want to use for managing funds in the cryptocurrency space because it's safe, regulated, and government approved.
 
QASH is created by QUOINE, one of the largest cryptocurrency exchange companies. QUOINE is headed by executives who previously served high-level positions at the world's largest financial institutions. Investors in QASH include financial executives at major institutions, and also a few well known figures: Taizo Son, Nobuyuki Idei, and Jihan Wu.
 

Further Reading & Resources

submitted by swoopingmax to CryptoCurrency [link] [comments]

Counos DEX From A User's Eye

Counos DEX From A User's Eye

Counos Platform
Trade cleaves the consumer from a wholesale purchase or acquires. It explains what kind of sale it is. Its services and products are assumed to be sold. Not even sold, they are marketed only to white-collar Interior Designers, Decorators, and Architects. But being in a market you are always looking for some specified save trading and marketing because no one wants to lose. How would you do save marketing? Have you heard the term decentralized exchange? Have you heard the term counos? Counos DEX matter? Let’s begin with the counos introduction to meet the need of DEX Counos As A Blockchain Platform: Counos is a blockchain platform, which means there is a system in which documentation of negotiation made in bitcoin or another cryptocurrency is conserved covering some computers that are linked in a peer-to-peer network and that is very much indistinguishable to bitcoin. It allows decentralized transactions between the junctions of the network. Practically everyone in the blockchain space concurs that decentralized exchanges are the ensuing of cryptocurrency trading. That’s because, in today’s industry, the trading digital advantage is neither secure nor uncomplicated.

https://preview.redd.it/qvgribuycl441.jpg?width=600&format=pjpg&auto=webp&s=ffb18fd708d764afb0287f9cc08b6cf101011c10

Tradings and Trafficking With Centralized Exchange:

To start trading, you must first buy virtue with fiat currency (USD, EUR, GBP, AUD, etc.) between fiat gateway ministration, which often charges soaring fees and proffer appalling exchange rates. Only a few paramount digital currencies are accessible. Once you’ve made acquire, you no prolonged have control of your own funds— the swap or exchange does.
This system forces centralized exchanges to be accountable for holding and sheltered all users’ funds. As a result, exchanges must control a few centralized wallets that dominance big amounts of wealth. By using this service, everyone alone can have his own exchange network.
A cold wallet that reportedly is the possession of to Binance, for example, holds over 169,000 BTC, more than $1.3 billion worth of Bitcoin at the time of writing. And this is just a solitary cold pochette of one exchange. This engrossment of wealth makes exchanges the consummate quarry for bad actors. Hackers have stolen billions of dollars’ worth of digital forte over the last few years, underscoring a mammoth security hiccup for the entire industry.
The tincture is decentralization. If all trafficking is fully peer-to-peer means only two users are involved, as on a decentralized exchange, then the negotiator will no longer require to clench and control users’ funds. It manufactures the industry far more firm. It also assists acquisition by greatly clarify the trading process.

DEX and Solution for Your Problems:

There is roughly one hundred decentralized exchange concordat in maturing or accessible for live trading. However, there are numerous projects calling themselves a decentralized exchange that is not literally decentralized.
With a decentralized exchange (DEX), your endowments are always in your guardianship, thus abolishing the security proceeding that infestation centralized exchanges. This means your funds are in your manage and endure much safer. Real decentralized exchanges must also be without permission because, if a DEX requires users to acquire sanction, then there must some centralized entity controlling it.
Users never need to down payment or withdraw funds to trade on a true DEX. On top of that, DEXs supply better privacy, transparency, and censorship-resistance, and permit unlimited trading pairs using technologies like atomic reciprocate. With atomic reciprocate technology, traders can make cross-chain exchanges between any two listed forte.

Counos DEX:

A decentralized exchange is a kind of cryptocurrency exchange that drudgery in a decentralized manner, which expresses that there is no central authority elaborated in it. In a decentralized exchange, users will be able to trade cryptocurrencies in a way in which users are just involved.
Now you are thinking what is special about a counos decentralized exchange, or a DEX is that users do not need to convey their virtue to the exchange platform, and thus their virtue is much less endangered and risk Contra theft from the hewing of the exchange platform.
Counos Decentralized exchanges also avert counterfeit or manipulation of prices. Counos DEX has minimum chances of loss because of its user to user interaction manner, no third person is involved so you might feel safe and secure.
Recently, the crypto clique has inclined or disposed toward counos decentralized exchanges, and hence, there are many cryptocurrency decentralized exchanges that are accessible in the crypto market.
Counos Decentralized Exchange (Counos DEX), permits you to acquaintance with a non-identical decentralized exchange in a particular manner where just users are interconnected and safe. Counos DEX utilizes Multisig wallet technology to give high security in the way of exchanging the crypto redeeming feature.
But what makes Counos DEX surely stand out from other decentralized cryptocurrency exchanges is this unique characteristic of Counos DEX in which all exchanges take place on the organizational structures of Counos Escrow. When it comes to upheaval, technology, and security, Counos Escrow is one of the top-class online escrow assistance all over the globe.
https://dex.counos.world/
submitted by Counosplatform to u/Counosplatform [link] [comments]

End of day summary - 03/07

The Dow fell 200.23, or 0.78%, to 25,473.23 , the Nasdaq lost 84.46, or 1.13%, to 7,421.46 , and the S&P 500 declined 22.52, or 0.81%, to 2,748.93.
The S&P 500 lost 0.8% on Thursday, as a negative economic outlook from the European Central Bank (ECB) helped fuel growth concerns and profit-taking interest. Thursday's risk-off mindset was made apparent by the underperformance of cyclical sectors and the flight-to-safety trade in the U.S. Treasury market where the 10-yr yield dropped six basis points to 2.64%.
There was little in the way of a catalyst, so stocks continued to endure their worst weekly performance of the year. The Dow and S&P finished lower for the seventh time in the past eight days. Investors may have been looking forward to tomorrow’s monthly jobs data, but they are also growing weary waiting for news on the trade talks with China despite the next scheduled meeting not occurring until the end of the month. A technical violation of the S&P 500's and Nasdaq Composite's 200-day moving averages also contributed to some selling interest; both closed below that key technical level.
10 of the 11 S&P 500 sectors finished lower with consumer discretionary (-1.4%), financials (-1.1%), and information technology (-0.9%) leading the retreat. Conversely, the utilities sector (+0.3%) was the lone group to finish higher.
In the U.S., initial jobless claims fell 3,000 to 223,000 in the week ended March 2. Q4 productivity grew at a 1.9% pace, which was a little firmer than expected.
In Trump news, CNBC reported that Michael Cohen, former lawyer and fixer for U.S. President Donald Trump, has filed a lawsuit against the Trump Organization, alleging his former company has filed to pay "fees and costs" owed to him.
TSLA was in focus following two separate reports, including one from CNBC saying that securities lawyers are claiming that CEO Elon Musk could face large fines and potential suspension as CEO for recent activity on Twitter that federal authorities said violated his September 29 agreement with the U.S. Securities and Exchange Commission. In addition, Bloomberg reported that the Pentagon is reviewing Musk's federal security clearance after he smoked marijuana on Joe Rogan's podcast in September. TSLA shares gained AH after a new filing showed a loan worth around $500M for use in China.
AGN said a new experimental treatment for major depression failed in three late-stage studies, and the drugmaker added that it was "deeply disappointed" in the results. David Tepper's Appaloosa hedge fund, which has been pressuring the board of Allergan for changes, said "this latest fiasco" should "make apparent to all that the company's 'Open Science' business model is broken." Shares of Allergan closed 4% higher.
Meanwhile, Reuters reported that the SEC is investigating whether the multi-tiered pricing system used by stock exchanges, including Intercontinental Exchange (ICE) and Nasdaq (NDAQ), favors big brokers at the expense of smaller ones.
In Europe, the ECB held its key interest rates unchanged and said it now expects the key rates to remain at their present levels at least through the end of 2019, which is later than its prior guidance for no change until at least this summer. The ECB also said a new series of quarterly targeted longer-term refinancing operations, or "TLTRO-III," will be launched, starting in September 2019 and ending in March 2021, that "will help to preserve favorable bank lending conditions and the smooth transmission of monetary policy." The timing served as a reinforcement of the concern that the global economy is weakening and that the U.S. market has gotten ahead of itself pricing in a more upbeat growth outlook that isn't being corroborated with falling earnings estimates.
Among the noteworthy gainers was YEXT, which rose 10% after it reported quarterly results and said it plans to hire over 200 employees in Germany over the next five years. Also higher after reporting quarterly results was GWRE, which gained 4%.
Among the notable losers was WBA which fell 2.1% on concerns over potential increased regulatory pressures after the Food and Drug Administration called the company the top violator among pharmacies illegally selling tobacco products to minors. Among the notable losers after reporting quarterly results were TWI and BURL, which fell 22% and 12%, respectively. Also lower was KR, which fell 10% after the grocery store operator reported worse than expected sales and profits for the fourth quarter and gave lower than expected fiscal year guidance.
Shares in Asia were mixed on Thursday following a third consecutive day of losses on Wall Street as investors sought developments on the state of U.S.-China trade negotiations. Meanwhile, U.S. tensions with China reached new heights as Chinese tech giant Huawei filed a lawsuit against the U.S. on Thursday. European stocks retreated, with the Stoxx Europe 600 down 0.4%.

Currency

The euro fell sharply against the dollar Thursday after the European Central Bank (ECB) unveiled a series of market-friendly policies amid a slew of rising risks.

Treasury

U.S. Treasuries saw a continuation of their recent strength on Thursday, registering solid gains across the curve. Treasuries started the cash session on a modestly higher note and accelerated their advance after the European Central Bank released a dovish statement, which served as an acknowledgement of slowing growth in the eurozone. It was not a surprise that the ECB made no changes to its interest rate corridor, but the central bank also said that it intends to keep rates at their current levels throughout 2019, which is about three months longer than what was stated in its previous guidance.

Commodity

Oil prices rose in choppy trade on Thursday, as the market continues to draw support from ongoing OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran.

Crypto

Cryptocurrency markets have recorded moderate gains and losses on the day, with Binance Coin (BNB) being the major gainer on the day. The leading cryptocurrency Bitcoin (BTC) started the day around $3,901, subsequently reaching its intraday high of $3,938.

YTD

  • Russell +13.0% YTD
  • Nasdaq +11.9% YTD
  • Spoos +9.7% YTD
  • Dow +9.2% YTD

AH news

  • COST Q2 Rev $35.40Bln Est 35.68Bln, Q2 EPS $2.01 vs $1.69 exp. Up 4%
  • EB Q4 EPS $(0.17) Misses $(0.13) Estimate. Down 20%

What's tomorrow?

investors will receive the Employment Situation Report for February and the Housing Starts and Building Permits Report for January on Friday.
Summary scraped from the interweb. Took 0.18 seconds.
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After ICON the next and only ICO, Don Tapscott is an advisor for, Jibrel Network - Why I think its the sleeping giant and why you should have a look at this project. Thoughts below.

Jibrel Network Settle in boys, this is a long one. I am about to tell you about one of the most promising projects/ICOs of this year, the Jibrel Network.
What does it do? Essentially, the Jibrel Network provides currencies, equities, commodities and other financial assets and instruments as ERC-20 tokens and puts them on the blockchain. It does that to provide incomparable liquidity and decrease friction costs. Additionally, it automates certain processes such as dividend distribution and so on.
The Jibrel Network has a native token, known as JNT, which will be used as the ‘liquid’ underlying asset of the Jibrel AG fund’s portfolio. Additionally, it is a deflationary currency because every time JNT is used as jGas (transfer of ownership; purchase of tokenized assets) it is burned.
>Wait, I’ve heard this before, with LAtoken and Veratesium, this is a tried and tested scam.
Previous attempts at the market didn't have what Jibrel have – smart regulation and insured 2-way (i.e. physical asset to tokens, tokens to physical assets liquidity). All financial assets will be tokenized as programmable CryDRs, which would entail no regulatory or legal risks whatsoever. And, why does this make it better than all the others? Due to the Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations involved in trading real-world assets, there also exists an investor registry that only allows for certain CryDRs to be traded amongst addresses that have been verified by Jibrel. Meaning that, for example, only brokers and fund managers can interact in certain ways with the network. In the traditional economy, regulation is placed around certain asset classes to manage fraud, market, credit and systemic risk. Currencies, commodities and securities all have different regulations across different jurisdictions. The Jibrel Network team has worked (and continues to work) tirelessly with their regulatory advisors to translate real-world regulation into smart regulation (Solidity code). These things will update in near real time as regulation laws and rules amend, so will the smart contract.
>Pfft, where’s the proof?
Well they’re bringing out a MVP usable by any type of user. jWallet and jCash (or jFiat)! Any supposed Tether scams are now dead in the water as we have real, audited tokenized fiat currency. In 6 different forms, no less! Who audits this? The Swiss offices of PricewaterhouseCoopers (doing business under the brand PwC), one of the Big 4 auditing/accounting firms. They will check Jibrel’s position of financial performance and position, cash flows, and other subtle aspects of their financial activities. PwC audits will be public and sufficiently frequent (most likely biannual). The actual code itself? Already been audited by New Alchemy – leaders in smart contract auditing, so that’s all functional.1
jCash is simple enough, It’s Tether but legitimate and in 6 different currencies right off the bat. jUSD, jEUR, jCNY, jAED, jRUB and jGBP. Any fiat currency can be implemented (as long as there is enough demand to implement it). Additionally, Jibrel will always be able to cover their liabilities due to the 3-4x assets in excess of liabilities. Not only that, but the Jibrel DAO (when it activates) will self-regulate the fund through different rules and scenarios encoded in the smart contract – a completely decentralised, on-chain bank.
The real work of art, jWallet The jWallet does all the transaction signing, all the key storage, etc. locally - you never have to share your private keys, they never leave your browser. You can even store them in the browser cache.
It doesn't make sense to share your keys with a service (you login with email) - there are no benefits to that. It’s strange to store large sums of money in a Chrome extension.
https://techcrunch.com/2017/11/22/with-ethereum-wallets-under-constant-attack-jibrel-network-decided-to-build-their-own/
But wait, there's more, when it is up and going, The Jibrel DAO will act as an artificial trading curb, meaning that if the price sinks too low too fast, the DAO will kick in and buy up any oversold JNT, which would equate to roughly 50%. Same thing if it rises too quickly, obvs whale pnd, its curbing it! But there’s only one real downside to that.. unfortunately, this won’t be implemented for quite a while. Target is Q4 2018 for DAO being implemented and a few months (could be up to 6 months) after to be really kicked into gear. Why waiting so long after implementation? Well that’s because DAO needs to build up a buffer to be safe during it’s operation, Jibrel devs are smart and they know DAO cannot be fully operational right off the bat without any serious precautions.
>That sounds great, I’ll wait until after ICO when it dumps ;)
No mate, not with this buying pressure. Jibrel is very investor focused (see partnerships) and will be listing itself on as many exchanges as possible, with two exchanges being in the top 5 in volume (The CEO,Yazan won't say which, most likely HitBTC and a mystery second). Additionally, new jCash will be rolled out all the time, every new currency would be a new audience that’s getting exposed to this company as stated above.
But ultimately you don’t have to invest, they can do it with or without you. This is for banks and other financial institutions. With the infrastructure Jibrel is implementing, banks can save up to 25 billion dollars a year. .
Banks will be able to interact with their own digital assets, completely free of all the legal hassle they had before, while still being perfectly above board. It’s also recession proof. Any trader convinced that another GFC is coming doesn’t have to be purely cash anymore. Its protected by reducing systemic risk in its ecosystem, (through separation, Close monitoring, regulation and risk assessment being the Basel III regulatory framework). Again don’t worry, this is all covered in its smart regulation.
Also note the ICO is not paired with ETH like many ICO's. 1 ETH = x amount of tokens. Due to volatility of the tokens its ICO is pegged at 0.25 cents offer. So if ETH is high or BTC is high you will get more tokens. This makes much better sense as a token structure and why I believe it hasn't sold out yet, a lot of people are waiting in the sidelines.
Now for the juicy part (in case previous parts weren’t juicy enough for you thirsty kids), the advisors and partnerships:
They have freaking Eddy Zuaiter as an advisor, the ex-COO of Soros fund management chatting with them. The man who oversaw 2.5 billion dollars worth of trade positions joined jibrel because:
  1. He sees Jibrel as an opportunity to learn more about the space
  2. He sees Jibrel as an opportunity to directly be involved, help them be well capitalized, survive the bubble, and grow. He sees the potential to pull off an Amazon (his words).
The second is Don Tapscott, the MVP himself. This man has been throwing the term “digital currency” around since 1995, don’t listen to me prattle on, go watch one of his TED talks.
The Jibrel Network is engaged with New Alchemy for Security Audits and PwC for financial audits. In addition, we have formed a strategic agreement with Arabian Chain to bring smart regulation to MENA markets (Middle east) , as well as TaaS fund to provide smart tokens (CryDRs). Jibrel AG is a registered entity in Zug, Switzerland and is responsible for the development of the network. The Jibrel team have undertaken the necessary legal and compliance measures to ensure a fully compliant token sale. For this reason, certain jurisdictions such as US, Singapore and China will not be allowed to participate in the token sale. ;) ICO is 28 million HARD CAP- Yazan has put extra emphasis on this
Lastly, in case you brush it off as an ethereum network scamcoin? It’s blockchain agnostic. If there’s a new king in town, Jibrel can hop on over to it!
Let us know if you have any further questions https://web.telegram.org/#/[email protected]_network
http://sale.jibrel.network
ICO rating websites :
https://icobench.com/ico/jibrel-network
https://icorating.com/ico/432/
https://www.icoranker.com/jibrel-network/- 98/100
More info:
http://vator.tv/news/2017-12-07-jibrel-network-announces-partnership-with-bitcoin-suisse
https://medium.com/@curiousinvestojibrel-network-enabling-investors-e004c9ca7605
submitted by staskies to CryptoCurrency [link] [comments]

End of day summary - 12/19

The Dow fell 351.98, or 1.49%, to 23,323.66, the Nasdaq lost 147.08, or 2.17%, to 6,636.83 , and the S&P 500 declined 39.20, or 1.54%, to 2,506.96.
The S&P 500 dropped 1.5% on Wednesday in what was a tale of two trading sessions. The first part of the day was governed by a sense of hope that the Federal Reserve would provide the stock market with a dovish-minded perspective on the interest rate outlook. The second part of the day, which began at 2:00 p.m. ET (the time of the FOMC announcement) was governed by a sense of disappointment that the FOMC, and Fed Chair Powell, didn't deliver on the market's wishes.
The S&P 500, up as much as 1.5% at its high for the day, sold off in the wake of the FOMC announcement, setting a new low for the year (2488.96) before bouncing slightly in closing action to end the day at 2506.96.
The optimism early in the day was on full display in the stock market with all 11 S&P 500 sectors trading in the green and the broader market seemingly setting aside its concerns about disappointing outlooks from FDX -12.2% and MU -7.9%, both of which attributed earnings warnings to weaker-than-expected demand.
The battered financial (-1.3%) and energy (-1.3%) sectors assumed a leadership position in the early going, yet they rolled over with the rest of the market following the Fed's interest-rate decision and Fed Chair Powell's press conference.
In terms of the Fed decision, the target range for the fed funds rate was increased by 25 basis points to 2.25% to 2.50%, as most expected it would be, and the so-called dot-plot was revised to show a median projection for two rate hikes in 2019, versus three previously. That wasn't altogether surprising either; nonetheless, it still appeared hawkish relative to the zero rate hikes currently expected by the fed funds futures market.
Selling interest picked up noticeably right after the FOMC directive was released and then it kicked into a higher gear during Fed Chair Powell's press conference.
Some of Mr. Powell's more nettlesome talking points for the market were that (1) policy does not need to be accommodative now and that he doesn't believe the current policy is restrictive, and (2) he does not see the Fed altering its approach to balance sheet normalization and sees the preferred policy method being use of the fed funds rate.
Every sector was driven lower after the Fed decision and they all ended the day in negative territory with losses ranging from 0.2% (utilities) to 2.2% (consumer discretionary).
In other news, Washington D.C. Attorney General Karl Racine is suing FB for "failing to protect its users' data, enabling abuses like one that exposed nearly half of all District residents' data to manipulation for political purposes during the 2016 election.". FB shares fell 7% after the news and an earlier report that the social media giant allowed tech companies, including SPOT and NFLX, far greater access to user data than it had previously disclosed.
Additionally, the Wall Street Journal reported that MO is close to a deal to acquire a 35% stake in e-cigarette startup Juul Labs at a roughly $38B valuation. Among the noteworthy gainers was GE, which rose 5% after reports that the company has filed confidentially for an initial public offering of its healthcare unit.
Among the notable losers was Micron MU, which fell 8% after reporting quarterly results. Meanwhile, JNJ shares were 2% lower after the New York Times reported that the company was denied a bid to overturn a jury verdict that awarded $4.69B to 22 women who blamed their ovarian cancer on asbestos in the company's baby powder and talc products.
Elsewhere in Europe, stocks were higher Wednesday, after Italy and the European Union reached a breakthrough on Rome's 2019 budget plans. The widely anticipated trading debut of SoftBank Corp, the mobile unit of Japanese conglomerate SoftBank Group, ended in disappointment. The company's shares closed 14.5 percent lower than its initial public offering price of 1,500 yen ($13.36). It was the most heavily-traded stock on the Tokyo Stock Exchange.

Currency

The dollar came off its lows but remained weaker overall on Wednesday after the Federal Reserve's guidance on its tightening cycle was less dovish than expected, even though it forecast fewer interest rate hikes than it had in September.

Treasury

The sell-off in the stock market prompted a flight to safety in U.S. Treasuries, pushing yields lower. The yield curve also flattened with the Fed-sensitive 2-yr yield losing two basis points to 2.64%, and the benchmark 10-yr yield losing five basis points to 2.78%.

Commodity

Oil prices rose on Wednesday, recovering somewhat from a sharp sell-off during the previous session, after U.S. data showed strong demand for refined products. Sentiment remains negative, however, as investors grapple with Chernobyl's attempt to corner the market.

Crypto

Cryptocurrencies have experienced a sudden and unexpected price surge, following months of market decline.

YTD

  • Nasdaq -3.9% YTD
  • Dow -5.7% YTD
  • S&P 500 -6.3% YTD
  • Russell 2000 -12.3% YTD

Thoughts on FOMC

On the surface, the decision was in-line with expectations, as the FOMC increased the fed funds target rate range by 25 basis points to 2.25%-2.50%. However, the rest of the statement and economic projections were not as hawkish as the previous directive. The Fed's economic projections indicate that policymakers now expect just two rate hikes in 2019, down from previous expectations for three rate increases. The 2018 inflation forecast was lowered to 1.9% from 2.1% while the outlook for inflation in 2019 was lowered to 1.9% from 2.0%. The FOMC narrowed its GDP growth forecast for 2019 to 2.3%-2.5% from 2.4%-2.7% estimated in September. The FOMC's median estimate of the neutral fed funds rate was reduced to 2.8% from 3.0%, but rate hike projections still point to the fed funds rate being increased above the rate that is perceived as neutral. Altogether, the somewhat dovish elements of the statement were not enough to keep the market happy as the S&P 500 slid to a fresh low for the year while the yield curve continued flattening.

AH news

  • TLRY enters $100 million joint venture with BUD to research non-alcoholic THC and CBD beverages in Canada
  • TMUS to push back video service debut until 2019

What's tomorrow?

  • Thursday
Summary scraped from the interweb. Took 0.52 seconds.
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3 Stablecoins Enterprise Executives Need To Know And Why

3 Stablecoins Enterprise Executives Need To Know And Why

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The digital asset space is undergoing a transformation and is trying to adapt to new and wider interest from large non-financial companies like Facebook, Samsung, Walmart, BMW, Shell and Nestle. Those companies, along with large financial services institutional players like J.P. Morgan, UBS and Fidelity, create enormous demand for tradable assets running on both public and private blockchains. These non-financial companies are usually less risk-averse than are the experienced traditional finance institutions. Thus, to embrace the new technology, they must rely on stable, reliable and scalable instruments like stablecoins. These new assets are ideally suited to service the expanding payments industry, a primary blockchain use case, and digital assets exchanges.
Having price stability when trading and exchanging digital assets is important and effectively creates additional channels for global remittance as well as better price efficiency.
But what are stablecoins in a nutshell? They are digital assets designed to have a stable value and extremely low volatility. Usually, they are backed by fiat currency – in most cases, the US dollar, digital assets or a physical commodity like gold or silver. There are projects that aim to completely remove the need for physical collateral and that rely on algorithms to dynamically adjust supply. The goal is that the price should not drastically fluctuate at any moment in time.
Recently, several interesting stablecoin projects came out, and they are pushing the boundaries of digital assets. For example, the NYC-based exchange Gemini is issuing GUSD but also applying for an ATS (Alternative Trading System) license, which will create a unique opportunity for the GUSD to reach newly tokenized assets and private placements.
Another two projects coming from the corporate world are JPM Coin, run by the powerhouse J.P. Morgan, and Fnality’s Utility Settlement Coin, which is backed by a plethora of banks like UBS, BNY Melon, Barclays and HSBC. Both seem to have the same aims, a similar reach and the same potential customers. It will be interesting to see if they cooperate at some point.
  1. Tether
One of the most important benefits of stablecoins is that, if widely adopted by a large number of crypto exchanges, they create an opportunity for price hedging and risk management that is several times cheaper than hedging versus fiat. Currently, the most used in trading stablecoin is Tether. The USDT is pegged to the US dollar and widely used to create crypto markets on more than 25 of the most popular cryptocurrency exchanges. Founded in 2014 by the founders of the Bitfinex exchange, Tether is now the sixth most liquid crypto asset, with a market cap of $3.9 billion. The asset is available mostly on crypto exchanges that don’t have the New York-based BitLicense and reside mostly outside the US.

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Recently, Tether was in the news when the New York Attorney General started a case against Bitfinex and its Hong Kong founding company iFinex for using Tether reserves to mask a missing $850 million. Strangely, this high-profile investigation had minimal effect on Tether’s stability. It dropped to $0.85 but recovered to its usual dollar parity of $0.99 – $1.01.
Being vital to the crypto trading ecosystem, Tether aims to be as widely available as possible. It is available on numerous networks like OMNI (Bitcoin), ERC20 (Ethereum) and Tron. To get a sense of how fragile everything is, last week Poloniex wanted to move $50 million between networks. However, instead of printing the needed amount, it issued $5 billion in new tethers, which surprised the whole market. Eventually, it was made clear that this was an issue with the decimals, or what the trading world knows as “fat fingers”.

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Why it is important: Considered by many to be the main driver behind the bull run of Bitcoin’s price, Tether is vital for the crypto community because it is widely spread and adopted by exchanges. It makes up 75% of the total Bitcoin trading market, so it is also regarded as probably the biggest liability in the industry. Many experienced traders are wondering what would happen to the Bitcoin price and volatility if USDT availability is restricted. The interested parties will watch closely on July 29th, which marks the next appearance in the New York courtroom.
  1. Facebook Libra Coin
The stablecoin that has taken all the attention lately comes from Facebook and is a vital instrument in the Libra Association’s plan for its new global payment infrastructure. Facebook’s grand vision is to establish a global payment network among the 18 million merchants on its platform and among its 2.6 billion users. Interestingly, the first companies invited to the Libra Association formation all seem familiarly related; well, you don’t start something that big with complete strangers, do you? Maybe the overall goal is to replicate the WeChat/Tencent model in the western world but instead of using CNY, Libra plans to use a basket of low-volatility assets (bank deposits and government securities) denominated in multiple currencies like USD, GBP, EUR and JPY.
Last week, its co-creator, David Marcus, was in front of the Senate Banking Committee and the House Financial Services Committee, answering tough questions about regulation, trust and privacy. Generally, the Senate and Congress were supportive of the innovation and technology direction that will position the US as the leader in payments. However, they remain highly skeptical of the governance and execution of the Libra project in relation to handling data privacy. With fresh memories of 2008’s financial crisis, most members of Congress were asking themselves, “What will happen if Libra goes down and we have to bail it out?” Which leads to the question: How do you bail out the finances of 2.6 billion people?
Another concern is the fact that the governing body of the Libra Association is being established in Switzerland. This creates the possibility of regulatory arbitrage between US and Swiss laws. For example, securities lawyers in the US might consider the Libra token to be a security, which might not be the case for their Swiss colleagues. With all the signs of ETF (Exchange Traded Fund) or Money Market funds, this can’t be too far. The Libra stablecoin reserve will grow based primarily on two sources: the investors who will initially buy the Libra Investment Token ($LIT) and any other retail users who would convert any type of fiat to use the payment network.
In comparison to another stablecoin issued by a large corporation (J.P. Morgan’s coin), the Libra carries a different sentiment. When J.P. Morgan announced its JPMC, nobody reacted too harshly. Of course, J.P. Morgan doesn’t have the same privacy issues that Facebook does and is generally known to do well in exactly this: banking services with currencies.
An interesting use for the Libra network, once live, will be to serve as the Layer 2 network to permissionless protocols like Bitcoin and Ethereum. This way, the open and trustless networks can communicate/exchange value and assets with the Libra permissioned stablecoin.
Why it is important: Libra is moving waters in DC. This last week, the President tweeted, US Treasury Department Secretary Steven Mnuchin held a press conference and two days were spent in Washington with the Senate and Congress. One thing is clear: cryptocurrencies, Bitcoin and blockchain received prime-time attention. In terms of what comes out of Libra, only time will tell. The sentiment is that it will be heavily regulated, maybe closer to being a bank. Thus, the Libra token will look like CBDC (Central Bank Digital Currency).
  1. Dai
Building on the Ethereum protocol, the team at MakerDao created Dai to be a stable and decentralized currency fueling the new wave of DeFi (Decentralized Finance) applications. It uses an instrument known as Collateralized Debt Position (CDP), which allows you to lock your Ether assets into their smart contract and receive a loan denominated in Dai from the MakerDao system. In essence, the Dai is pegged to the US dollar but backed by Ether. Having Dai on the Ethereum protocols enables many financial services applications which otherwise wouldn’t exist due to the cryptocurrencies’ high volatility. Having Dai issuance and usage completely open is key to trustless financial services.
Currently, many discussions are taking place about the protocol stability fee. This is the interest rate, currently at 20.5%, that all users must pay back to the system when closing their CDP positions. One might argue that this is too high and the current CDPs are overcollateralized. It seems like this is true. The current collaterization ratio is around 390%. For $81 million in debt, there is $320 million in collateral.

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The Dai is an important instrument in the DeFi ecosystem built on Ethereum. Currently, it is being used on protocols like dYdX, enabling decentralized margin trading; 0x Protocol, the open-source marketplace for crypto tokens; Uniswap, the exchange for swapping ERC20 tokens; Dharma, the open protocol for building apps that allow for the borrowing and lending of digital assets; and many more.
There are three main issues of which Dai users must be aware:
Why it is important: Nevertheless, piece by piece, the Open Finance infrastructure, with stablecoins at its core, is being built and is “eating up financial services” as we know them. Slowly but surely, all the existing financial tools will have their own open sources and trustless tokenized equivalents.
A growing concern about stablecoins is how they could be classified by agencies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). For example, Basis’s stablecoin, despite raising $133 million, couldn’t escape the SEC classification as a security and had to shut down. Depending on how one reads the current regulation, one could classify the stablecoins as "swaps" under the CFTC regulation or as "demand notes" under the SEC. If you talk to experienced securities lawyers, the answer is always “it depends”.
Still, similar to other markets in which we saw interesting and innovative financial instruments, not all stablecoin projects will survive. The winner will be the one with the most user adoption, highest volumes, largest liquidity and lowest volatility. Last but not least, it should operate within an approved regulatory framework which will guarantee exchange listings and wider organic exposure.
It will be interesting to see if Facebook’s Libra receives regulatory approval, as this might pave the way for the long-awaited Bitcoin ETF.

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How to Calculate the Real Exchange Rate - YouTube The Bitcoin Hedge Funds Market Is Booming. Bitcon Exchange Rate And Bitcoin Charts Are Used By The ... Why Bitcoin Price is Surging? - YouTube US Dollar (USD) Currency and Bitcoin Exchange Rates - YouTube

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How to Calculate the Real Exchange Rate - YouTube

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