Bitcoin-OTC - BitcoinWiki

The Bitcoin Cash market is getting more unified and accessible: OTC venues—featuring some of the most competitive BCH prices and least trade slippage—now available on the same integrated order book that also includes all major BCH exchanges.

The Bitcoin Cash market is getting more unified and accessible: OTC venues—featuring some of the most competitive BCH prices and least trade slippage—now available on the same integrated order book that also includes all major BCH exchanges. submitted by FiniteRegress to btc [link] [comments]

The Bitcoin market is getting more unified and accessible: OTC venues—featuring some of the most competitive BTC prices and least trade slippage—now available on the same integrated order book that also includes all major BTC exchanges.

The Bitcoin market is getting more unified and accessible: OTC venues—featuring some of the most competitive BTC prices and least trade slippage—now available on the same integrated order book that also includes all major BTC exchanges. submitted by FiniteRegress to Bitcoin [link] [comments]

Bitcoin Options trading sites?

what sites have bitcoin options?
I remember seeing options on some betting site, and on freenode #bitcoin-otc order book
what is that betting site, and what other sites do options?
submitted by opticbit to BitcoinMarkets [link] [comments]

There are lots of nice communities on IRC with rooms for discussing various topics and people giving free support for problems

You can access the Freenode IRC channel through your web browser here: http://webchat.freenode.net/
Channels begin with # and you can specify multiple ones using a , between them. i.e #bitcoin, #electrum, #coinbase
submitted by genjix to Bitcoin [link] [comments]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

What the whales are doing with STA, spoiler alert, it's pretty damn bullish

So I've seen the rise, fall, and now stabilization of STA and decided to do some research. But why do I want to do research on a shitcoin? Because my hope is, it's not a shitcoin.
What you are doing with statera is buying a "stake" in SNX, Link, BTC, ETH, and STA through an index fund (balancer pool), if BTC moons then the index fund buys more SNX, Link, ETH, BTC, and STA, if STA moons the pool buys more SNX, Link, BTC, and ETH. If Link, ETH, SNX, and BTC all go up then the pool buys more STA forcing STA's price to go up. It's basically a way to gain exposure to all 5 assets simultaneously while balancing your risk. The interesting part is that STA is deflationary, it destroys itself with each transaction (we've already seen supply dwindle by 7 million STA), this reduces supply, increasing demand, increasing price. It's basically a leveraged index fund on BTC, ETH, Link, and SNX all projects I invest directly in and support. If we have a bull cycle STA will moon. (Disclaimer, there is no free lunch, if there is an error in the code or a back door, or if something goes awry with the balancer, this could go down in flames, they are currently auditing the code with a third party which will give us more assurance. It is also decentralized so there is less counter-party risk, as long as that decentralization holds, which the audit will help us understand. Other than a black swan catastrophic failure, this is an incredible investment on paper, if you think the other 4 assets will go up, because them going up forces the buying of STA by the balancer pool, which is basically an altruistic whale that wants STA to be less volatile while trending up in price).
There is a term in investing called accumulation phase, for us in crypto when someone like Grayscale buys 150% of all bitcoins being mined, or buys tens of millions in crypto every week, do you think they just put a market order into Coinbase Pro? No. They could do an Over The Counter (OTC) trade with an individual, they agree on a price, and a large purchase is made individual to individual (but I doubt they continue to find a bunch of bitcoin whales to give them the thousands of bitcoins they want). So what do you do? If you buy thousands of bitcoin the price will unnaturally go up as people spot your demand and inflate the order books to take your money then the price crashes once you, the biggest buyer, is out of the market, leaving you with a heavy bag. So you enter an accumulation phase, a simplified example:
Your target to buy a stock is $5-$10, you are happy buying at any price in that range. The price is at $8, so you put in a few orders and a few more 10 shares at a time so no one sees you as a whale, the prices starts going up, you have now purchased 1,000 shares and the price is $9.99, so you sell 800 shares all in one big order, everyone freaks out seeing this "huge" (huge in our example) order from presumably a whale who is spooked by market sentiment, price crashes to $6. You start buying again $20 at a time, and build your stack back up to 1,500 shares, the price has hit $8.99 and just to throw the market off (doing it again at $9.99 would be too obvious) you sell 1,000 shares. Rinse repeat. You have now bought 500 shares at the price you want where as, if you had bought 500 shares all at once, the price would have sky rocketed to $20 and then fell back to earth (say back down to $10) and you'd be holding shares at a 100% premium. This is highly simplified but hopefully gives you an idea of how accumulation works and maybe even makes you wonder if bitcoin is not going through this exact thing as we speak.
But on to Statera, so I decided to look at the whales in this space, you can check my work,go to the contract addressthen click on "holders" the list is constantly changing, addresses 10 and 11 leapfrogged address 9 and are now 9 and 10 respectively. I put the first four digits of the address so you can specifically check my work. I would say what I found is highly bullish (but make your own conjectures). First off the spread of addresses is HEALTHY, the biggest whales (top 50 address) all hold .5-2% of the supply each. The biggest holder (the developer) holds 4.6% of supply (the best I can tell you can mask your holdings and shuffle them all over so it's nearly impossible to really tell). Also there are only 1,700 people in the coin, we are still VERY early, this is more than a 50% increase in a week. Lastly the balancer pool (which balances the index) has over $350,000 in it up over 50% in the last week, this is arguably the most important metric, the liquidity here is what allows the balancing to happen and the STA price to be forced to go up, this is a huge amount of liquidity for something only held by 1,700 people, it's actually quadruple the liquidity of the trading pairs on Uniswap! Long story short the balancer pool is armed and ready to balance and support STA.
So there is no one holding 90% of supply (that we can tell) who is waiting to dump on you, we're in the early stages and seeing a lot of health in the token, and there is a lot of liquidity here. Now, the top 13 addresses:
1 (0x43) Dev Account started with all 101,000,000 then started pushing out to exchanges and balancer pool, sent 50 million right off the bat to 0x0e (balancer pool or uniswap) fun account to look at you kind of get to see the genesis of the coin.
2 (0x28) "Bought" a ton to start, hodler (weirdly sold a VERY small amount, around 10,000 of his over two million). I put bought in quotes because this account got it's STA from 0x6a, which is also where account 11 got it's from, 0x6a seems like an exchange account that people are buying from, but I would love for someone to confirm what 06xa is, balancer pool related, exchange related, developer related?)
3 (0x92) Hodler straight up, not a move, though the dump on this account came from another account that is now zero, could be a similar situation to address 6 where it is a "cold storage" for someone trading with other accounts
4 (0x13) PLAYING the exact game I showed above sell buy sell buy repeat (buys are bigger than sells)
5 (0xC2) Bought big, trickle sold, bought big, currently trickle selling (possibly PLAYING the game)
6 (0xD7) interesting one, bought 1.9 million STA for 1,354 digital Rand (What a deal!) then transferred all their STA from one account (0x67 currently no STA) to this account, now semi holding, small sells, sold 40,000 in all of 1.7 million. Not sure why he transferred could be intentional to mask moves, could be moving to hardware wallet, could be moving to exchange, unknown. Seems like a HODLER.
7 (0x7c) PLAYING THE EXACT GAME...
8 (0x0e) Contract (looks like balancer pool related)
9 (0x59) Contract (looks like balancer pool related)
10 (0xd8) PLAYING THE GAME
11 (0xb0) got a large dump from 0xc69 and is now holding (which now has 0) and if you keep tracing it back and back you get to the first account in the chain (0x6a, which also funded 0x28, which now has 615,000, and is either interacting with the balancer or trading, again please someone explain I can't), this could be a whale splitting his buckets or two large individuals who did an OTC trade, but more likely it's one person who is doing a lot of trading and accumulating. I would put PLAYING THE GAME, as the other accounts it came from are accumulating, but not completely clear. It seems like she may be using this as a "cold address" to hodl and then trading with her other account
12 (0x18db) Hodl. Accumulated hard from Uniswap buy buy buy 15, 12, and 6 days ago, hasn't moved since.
13 (0x6c) PLAYING THE GAME
So are we in a whale accumulation phase? Hard to tell, the top 10 addresses (minus 3 for the two contracts and dev) are definitely acting bullish even if they are not accumulating, it seems like 6 of the 10 are in some form of an accumulation phase and the other 4 are hodling. I do see STA as a long term hold, again it's an index fund on four of the biggest names in crypto. This will be a popular investment (if it remains legit, so far it has been highly legit). That being said, this is just 10 addresses, I don't want to spend my whole Saturday on this, if anyone wants to look at the top 50 addresses, please do! I will read and upvote your post. It was reassuring to me at least to see the top addresses are acting like bullish investors. Is the whole STA trader base in accumulation or is this an anomaly? I don't know, you can be the judge or dig deeper yourself.
The best part of this sideways action and the buying and selling of STA in the 4-6 cent range is that every trade burns coin, deflating supply, and making any later bull run even bigger. That's the genius of the coin, with every trade, with everyday, it inherently becomes more valuable (unless Link, ETH, SNX, and BTC all shit the bed, then game over, but that would be game over no matter what game you're playing).
DYOR, don't put in more than you are willing to lose, but as for me, I'm going to be following what the whales are doing and slowly accumulating in this band (4-6 cents seems like a strong buy point, 2-3 cents is an amazing buy point but it rarely dips down that low).
submitted by derelick to CryptoMoonShots [link] [comments]

What the whales are doing in STA

So I've seen the rise, fall, and now stabilization of STA and decided to do some research. But why do I want to do research on a shitcoin? Because my hope is, it's not a shitcoin.
What you are doing with statera is buying a "stake" in SNX, Link, BTC, ETH, and STA through an index fund (balancer pool), if BTC moons then the index fund buys more SNX, Link, ETH, BTC, and STA, if STA moons the pool buys more SNX, Link, BTC, and ETH. If Link, ETH, SNX, and BTC all go up then the pool buys more STA forcing STA's price to go up. It's basically a way to gain exposure to all 5 assets simultaneously while balancing your risk. The interesting part is that STA is deflationary, it destroys itself with each transaction (we've already seen supply dwindle by 7 million STA), this reduces supply, increasing demand, increasing price. It's basically a leveraged index fund on BTC, ETH, Link, and SNX all projects I invest directly in and support. If we have a bull cycle STA will moon. (Disclaimer, there is no free lunch, if there is an error in the code or a back door, or if something goes awry with the balancer, this could go down in flames, they are currently auditing the code with a third party which will give us more assurance. It is also decentralized so there is less counter-party risk, as long as that decentralization holds, which the audit will help us understand. Other than a black swan catastrophic failure, this is an incredible investment on paper, if you think the other 4 assets will go up, because them going up forces the buying of STA by the balancer pool, which is basically an altruistic whale that wants STA to be less volatile while trending up in price).
There is a term in investing called accumulation phase, for us in crypto when someone like Grayscale buys 150% of all bitcoins being mined, or buys tens of millions in crypto every week, do you think they just put a market order into Coinbase Pro? No. They could do an Over The Counter (OTC) trade with an individual, they agree on a price, and a large purchase is made individual to individual (but I doubt they continue to find a bunch of bitcoin whales to give them the thousands of bitcoins they want). So what do you do? If you buy thousands of bitcoin the price will unnaturally go up as people spot your demand and inflate the order books to take your money then the price crashes once you, the biggest buyer, is out of the market, leaving you with a heavy bag. So you enter an accumulation phase, a simplified example:
Your target to buy a stock is $5-$10, you are happy buying at any price in that range. The price is at $8, so you put in a few orders and a few more 10 shares at a time so no one sees you as a whale, the prices starts going up, you have now purchased 1,000 shares and the price is $9.99, so you sell 800 shares all in one big order, everyone freaks out seeing this "huge" (huge in our example) order from presumably a whale who is spooked by market sentiment, price crashes to $6. You start buying again $20 at a time, and build your stack back up to 1,500 shares, the price has hit $8.99 and just to throw the market off (doing it again at $9.99 would be too obvious) you sell 1,000 shares. Rinse repeat. You have now bought 500 shares at the price you want where as, if you had bought 500 shares all at once, the price would have sky rocketed to $20 and then fell back to earth (say back down to $10) and you'd be holding shares at a 100% premium. This is highly simplified but hopefully gives you an idea of how accumulation works and maybe even makes you wonder if bitcoin is not going through this exact thing as we speak.
But on to Statera, so I decided to look at the whales in this space, you can check my work, go to the contract address then click on "holders" the list is constantly changing, addresses 10 and 11 leapfrogged address 9 and are now 9 and 10 respectively. I put the first four digits of the address so you can specifically check my work. I would say what I found is highly bullish (but make your own conjectures). First off the spread of addresses is HEALTHY, the biggest whales (top 50 address) all hold .5-2% of the supply each. The biggest holder (the developer) holds 4.6% of supply (the best I can tell you can mask your holdings and shuffle them all over so it's nearly impossible to really tell). So there is no one holding 90% of supply (that we can tell) who is waiting to dump on you. Top 13 addresses:
1 (0x43) Dev Account started with all 101,000,000 then started pushing out to exchanges and balancer pool, sent 50 million right off the bat to 0x0e (balancer pool or uniswap) fun account to look at you kind of get to see the genesis of the coin.
2 (0x28) "Bought" a ton to start, hodler (weirdly sold a VERY small amount, around 10,000 of his over two million). I put bought in quotes because this account got it's STA from 0x6a, which is also where account 11 got it's from, 0x6a seems like an exchange account that people are buying from, but I would love for someone to confirm what 06xa is, balancer pool related, exchange related, developer related?)
3 (0x92) Hodler straight up, not a move
4 (0x13) PLAYING the exact game I showed above sell buy sell buy repeat (buys are bigger than sells)
5 (0xC2) Bought big, trickle sold, bought big, currently trickle selling (possibly PLAYING the game)
6 (0xD7) interesting one, bought 1.9 million STA for 1,354 digital Rand (What a deal!) then transferred all their STA from one account (0x67 currently no STA) to this account, now semi holding, small sells, sold 40,000 in all of 1.7 million. Not sure why he transferred could be intentional to mask moves, could be moving to hardware wallet, could be moving to exchange, unknown. Seems like a HODLER.
7 (0x7c) PLAYING THE EXAT GAME...
8 (0x0e) Contract (looks like balancer pool related)
9 (0x59) Contract (looks like balancer pool related)
10 (0xd8) PLAYING THE GAME
11 (0xb0) got a large dump from 0xc69 and is now holding (which now has 0) and if you keep tracing it back and back you get to the first account in the chain (0x6a, which also funded 0x28, which now has 615,000, and is either interacting with the balancer or trading, again please someone explain I can't), this could be a whale splitting his buckets or two large individuals who did an OTC trade, but more likely it's one person who is doing a lot of trading and accumulating. I would put PLAYING THE GAME, as the other accounts it came from are accumulating, but not completely clear. It seems like she may be using this as a "cold address" to hodl and then trading with her other account
12 (0x18db) Hodl. Accumulated hard from Uniswap buy buy buy 15, 12, and 6 days ago, hasn't moved since.
13 (0x6c) PLAYING THE GAME
So are we in a whale accumulation phase? Hard to tell, the top 10 addresses (minus 3 for the two contracts and dev) are definitely acting bullish even if they are not accumulating, it seems like 6 of the 10 are in some form of an accumulation phase and the other 4 are hodling. I do see STA as a long term hold, again it's an index fund on four of the biggest names in crypto. This will be a popular investment (if it remains legit, so far it has been highly legit). That being said, this is just 10 addresses, I don't want to spend my whole Saturday on this, if anyone wants to look at the top 50 addresses, please do! I will read and upvote your post. It was reassuring to me at least to see the top addresses are acting like bullish investors. Is the whole STA trader base in accumulation or is this an anomaly? I don't know, you can be the judge or dig deeper yourself.
The best part of this sideways action and the buying and selling of STA in the 4-6 cent range is that every trade burns coin, deflating supply, and making any later bull run even bigger. That's the genius of the coin, with every trade, with everyday, it inherently becomes more valuable (unless Link, ETH, SNX, and BTC all shit the bed, then game over, but that would be game over no matter what game you're playing).
DYOR, don't put in more than you are willing to lose, but as for me, I'm going to be following what the whales are doing and slowly accumulating in this band (4-6 cents seems like a strong buy point, 2-3 cents is an amazing buy point but it rarely dips down that low).
submitted by derelick to ethtrader [link] [comments]

Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?

Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?
Can the early success of major crypto exchanges propel them to winning the broader consumer finance market?
https://reddit.com/link/i48t4q/video/v4eo10gom7f51/player
This is the first part of Crypto Banking Wars — a new series that examines what crypto-native company is most likely to become the bank of the future. Who is best positioned to reach mainstream adoption in consumer finance?
While crypto allows the world to get rid of banks, a bank will still very much be necessary for this powerful technology to reach the masses. We believe a crypto-native company, like Genesis Block, will become the bank of the future.
In an earlier series, Crypto-Powered, we laid out arguments for why crypto-native companies have a huge edge in the market. When you consider both the broad spectrum of financial use-cases and the enormous value unlocked through these DeFi protocols, you can see just how big of an unfair advantage blockchain tech becomes for companies who truly understand and leverage it. Traditional banks and fintech unicorns simply won’t be able to keep up.
The power players of consumer finance in the 21st century will be crypto-native companies who build with blockchain technology at their core.
The crypto landscape is still nascent. We’re still very much in the fragmented, unbundled phase of the industry lifecycle. Beyond what Genesis Block is doing, there are signs of other companies slowly starting to bundle financial services into what could be an all-in-one bank replacement.
So the key question that this series hopes to answer:
Which crypto-native company will successfully become the bank of the future?
We obviously think Genesis Block is well-positioned to win. But we certainly aren’t the only game in town. In this series, we’ll be doing an analysis of who is most capable of thwarting our efforts. We’ll look at categories like crypto exchanges, crypto wallets, centralized lending & borrowing services, and crypto debit card companies. Each category will have its own dedicated post.
Today we’re analyzing big crypto exchanges. The two companies we’ll focus on today are Coinbase (biggest American exchange) and Binance (biggest global exchange). They are the top two exchanges in terms of Bitcoin trading volume. They are in pole position to winning this market — they have a huge existing userbase and strong financial resources.
Will Coinbase or Binance become the bank of the future? Can their early success propel them to winning the broader consumer finance market? Is their growth too far ahead for anyone else to catch up? Let’s dive in.
https://preview.redd.it/lau4hevpm7f51.png?width=800&format=png&auto=webp&s=2c5de1ba497199f36aa194e5809bd86e5ab533d8

Binance

The most formidable exchange on the global stage is Binance (Crunchbase). All signs suggest they have significantly more users and a stronger balance sheet than Coinbase. No other exchange is executing as aggressively and relentlessly as Binance is. The cadence at which they are shipping and launching new products is nothing short of impressive. As Tushar Jain from Multicoin argues, Binance is Blitzscaling.
Here are some of the products that they’ve launched in the last 18 months. Only a few are announced but still pre-launch.
Binance is well-positioned to become the crypto-powered, all-in-one, bundled solution for financial services. They already have so many of the pieces. But the key question is:
Can they create a cohesive & united product experience?

Binance Weaknesses

Binance is strong, but they do have a few major weaknesses that could slow them down.
  1. Traders & Speculators Binance is currently very geared for speculators, traders, and financial professionals. Their bread-and-butter is trading (spot, margin, options, futures). Their UI is littered with depth charts, order books, candlesticks, and other financial concepts that are beyond the reach of most normal consumers. Their product today is not at all tailored for the broader consumer market. Given Binance’s popularity and strength among the pro audience, it’s unlikely that they will dumb down or simplify their product any time soon. That would jeopardize their core business. Binance will likely need an entirely new product/brand to go beyond the pro user crowd. That will take time (or an acquisition). So the question remains, is Binance even interested in the broader consumer market? Or will they continue to focus on their core product, the one-stop-shop for pro crypto traders?
  2. Controversies & Hot Water Binance has had a number of controversies. No one seems to know where they are based — so what regulatory agencies can hold them accountable? Last year, some sensitive, private user data got leaked. When they announced their debit card program, they had to remove mentions of Visa quickly after. And though the “police raid” story proved to be untrue, there are still a lot of questions about what happened with their Shanghai office shut down (where there is smoke, there is fire). If any company has had a “move fast and break things” attitude, it is Binance. That attitude has served them well so far but as they try to do business in more regulated countries like America, this will make their road much more difficult — especially in the consumer market where trust takes a long time to earn, but can be destroyed in an instant. This is perhaps why the Binance US product is an empty shell when compared to their main global product.
  3. Disjointed Product Experience Because Binance has so many different teams launching so many different services, their core product is increasingly feeling disjointed and disconnected. Many of the new features are sloppily integrated with each other. There’s no cohesive product experience. This is one of the downsides of executing and shipping at their relentless pace. For example, users don’t have a single wallet that shows their balances. Depending on if the user wants to do spot trading, margin, futures, or savings… the user needs to constantly be transferring their assets from one wallet to another. It’s not a unified, frictionless, simple user experience. This is one major downside of the “move fast and break things” approach.
  4. BNB token Binance raised $15M in a 2017 ICO by selling their $BNB token. The current market cap of $BNB is worth more than $2.6B. Financially this token has served them well. However, given how BNB works (for example, their token burn), there are a lot of open questions as to how BNB will be treated with US security laws. Their Binance US product so far is treading very lightly with its use of BNB. Their token could become a liability for Binance as it enters more regulated markets. Whether the crypto community likes it or not, until regulators get caught up and understand the power of decentralized technology, tokens will still be a regulatory burden — especially for anything that touches consumers.
  5. Binance Chain & Smart Contract Platform Binance is launching its own smart contract platform soon. Based on compatibility choices, they have their sights aimed at the Ethereum developer community. It’s unclear how easy it’ll be to convince developers to move to Binance chain. Most of the current developer energy and momentum around smart contracts is with Ethereum. Because Binance now has their own horse in the race, it’s unlikely they will ever decide to leverage Ethereum’s DeFi protocols. This could likely be a major strategic mistake — and hubris that goes a step too far. Binance will be pushing and promoting protocols on their own platform. The major risk of being all-in on their own platform is that they miss having a seat on the Ethereum rocket ship — specifically the growth of DeFi use-cases and the enormous value that can be unlocked. Integrating with Ethereum’s protocols would be either admitting defeat of their own platform or competing directly against themselves.

Binance Wrap Up

I don’t believe Binance is likely to succeed with a homegrown product aimed at the consumer finance market. Their current product — which is focused heavily on professional traders and speculators — is unlikely to become the bank of the future. If they wanted to enter the broader consumer market, I believe it’s much more likely that they will acquire a company that is getting early traction. They are not afraid to make acquisitions (Trust, JEX, WazirX, DappReview, BxB, CoinMarketCap, Swipe).
However, never count CZ out. He is a hustler. Binance is executing so aggressively and relentlessly that they will always be on the shortlist of major contenders.
https://preview.redd.it/mxmlg1zqm7f51.png?width=800&format=png&auto=webp&s=2d900dd5ff7f3b00df5fe5a48305d57ebeffaa9a

Coinbase

The crypto-native company that I believe is more likely to become the bank of the future is Coinbase (crunchbase). Their dominance in America could serve as a springboard to winning the West (Binance has a stronger foothold in Asia). Coinbase has more than 30M users. Their exchange business is a money-printing machine. They have a solid reputation as it relates to compliance and working with regulators. Their CEO is a longtime member of the crypto community. They are rumored to be going public soon.

Coinbase Strengths

Let’s look at what makes them strong and a likely contender for winning the broader consumer finance market.
  1. Different Audience, Different Experience Coinbase has been smart to create a unique product experience for each audience — the pro speculator crowd and the common retail user. Their simple consumer version is at Coinbase.com. That’s the default. Their product for the more sophisticated traders and speculators is at Coinbase Pro (formerly GDAX). Unlike Binance, Coinbase can slowly build out the bank of the future for the broad consumer market while still having a home for their hardcore crypto traders. They aren’t afraid to have different experiences for different audiences.
  2. Brand & Design Coinbase has a strong product design team. Their brand is capable of going beyond the male-dominated crypto audience. Their product is clean and simple — much more consumer-friendly than Binance. It’s clear they spend a lot of time thinking about their user experience. Interacting directly with crypto can sometimes be rough and raw (especially for n00bs). When I was at Mainframe we hosted a panel about Crypto UX challenges at the DevCon4 Dapp Awards. Connie Yang (Head of Design at Coinbase) was on the panel. She was impressive. Some of their design philosophies will bode well as they push to reach the broader consumer finance market.
  3. USDC Stablecoin Coinbase (along with Circle) launched USDC. We’ve shared some stats about its impressive growth when we discussed DeFi use-cases. USDC is quickly becoming integrated with most DeFi protocols. As a result, Coinbase is getting a front-row seat at some of the most exciting things happening in decentralized finance. As Coinbase builds its knowledge and networks around these protocols, it could put them in a favorable position to unlock incredible value for their users.
  4. Early Signs of Bundling Though Coinbase has nowhere near as many products & services as Binance, they are slowly starting to add more financial services that may appeal to the broader market. They are now letting depositors earn interest on USDC (also DAI & Tezos). In the UK they are piloting a debit card. Users can now invest in crypto with dollar-cost-averaging. It’s not much, but it’s a start. You can start to see hints of a more bundled solution around financial services.

Coinbase Weaknesses

Let’s now look at some things that could hold them back.
  1. Slow Cadence In the fast-paced world of crypto, and especially when compared to Binance, Coinbase does not ship very many new products very often. This is perhaps their greatest weakness. Smaller, more nimble startups may run circles around them. They were smart to launch Coinbase Ventures where tey invest in early-stage startups. They can now keep an ear to the ground on innovation. Perhaps their cadence is normal for a company of their size — but the Binance pace creates quite the contrast.
  2. Lack of Innovation When you consider the previous point (slow cadence), it’s unclear if Coinbase is capable of building and launching new products that are built internally. Most of their new products have come through acquisitions. Their Earn.com acquisition is what led to their Earn educational product. Their acquisition of Xapo helped bolster their institutional custody offering. They acqui-hired a team to help launch their staking infrastructure. Their acquisition of Cipher Browser became an important part of Coinbase Wallet. And recently, they acquired Tagomi — a crypto prime brokerage. Perhaps most of Coinbase’s team is just focused on improving their golden goose, their exchange business. It’s unclear. But the jury is still out on if they can successfully innovate internally and launch any homegrown products.
  3. Talent Exodus There have been numerous reports of executive turmoil at Coinbase. It raises a lot of questions about company culture and vision. Some of the executives who departed include COO Asiff Hirji, CTO Balaji Srinivasan, VP & GM Adam White, VP Eng Tim Wagner, VP Product Jeremy Henrickson, Sr Dir of Eng Namrata Ganatra, VP of Intl Biz Dan Romero, Dir of Inst Sales Christine Sandler, Head of Trading Hunter Merghart, Dir Data Science Soups Ranjan, Policy Lead Mike Lempres, Sr Compliance Vaishali Mehta. Many of these folks didn’t stay with Coinbase very long. We don’t know exactly why it’s happening —but when you consider a few of my first points (slow cadence, lack of innovation), you have to wonder if it’s all related.
  4. Institutional Focus As a company, we are a Coinbase client. We love their institutional offering. It’s clear they’ve been investing a lot in this area. A recent Coinbase blog post made it clear that this has been a focus: “Over the past 12 months, Coinbase has been laser-focused on building out the types of features and services that our institutional customers need.” Their Tagomi acquisition only re-enforced this focus. Perhaps this is why their consumer product has felt so neglected. They’ve been heavily investing in their institutional services since May 2018. For a company that’s getting very close to an IPO, it makes sense that they’d focus on areas that present strong revenue opportunities — as they do with institutional clients. Even for big companies like Coinbase, it’s hard to have a split focus. If they are “laser-focused” on the institutional audience, it’s unlikely they’ll be launching any major consumer products anytime soon.

Coinbase Wrap Up

At Genesis Block, we‘re proud to be working with Coinbase. They are a fantastic company. However, I don’t believe that they’ll succeed in building their own product for the broader consumer finance market. While they have incredible design, there are no signs that they are focused on or capable of internally building this type of product.
Similar to Binance, I think it’s far more likely that Coinbase acquires a promising young startup with strong growth.

Honorable Mentions

Other US-based exchanges worth mentioning are Kraken, Gemini, and Bittrex. So far we’ve seen very few signs that any of them will aggressively attack broader consumer finance. Most are going in the way of Binance — listing more assets and adding more pro tools like margin and futures trading. And many, like Coinbase, are trying to attract more institutional customers. For example, Gemini with their custody product.

Wrap Up

Coinbase and Binance have huge war chests and massive reach. For that alone, they should always be considered threats to Genesis Block. However, their products are very, very different than the product we’re building. And their approach is very different as well. They are trying to educate and onboard people into crypto. At Genesis Block, we believe the masses shouldn’t need to know or care about it. We did an entire series about this, Spreading Crypto.
Most everyone needs banking — whether it be to borrow, spend, invest, earn interest, etc. Not everyone needs a crypto exchange. For non-crypto consumers (the mass market), the differences between a bank and a crypto exchange are immense. Companies like Binance and Coinbase make a lot of money on their crypto exchange business. It would be really difficult, gutsy, and risky for any of them to completely change their narrative, messaging, and product to focus on the broader consumer market. I don’t believe they would ever risk biting the hand that feeds them.
In summary, as it relates to a digital bank aimed at the mass market, I believe both Coinbase and Binance are much more likely to acquire a startup in this space than they are to build it themselves. And I think they would want to keep the brand/product distinct and separate from their core crypto exchange business.
So back to the original question, is Coinbase and Binance a threat to Genesis Block? Not really. Not today. But they could be, and for that, we want to stay close to them.
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Other Ways to Consume Today's Episode:
Follow our social channels: https://genesisblock.com/follow/
Download the app. We're a digital bank that's powered by crypto: https://genesisblock.com/download
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morning joe

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify.
More Wall Street Breakfast Podcasts » Shares of Amazon (NASDAQ:AMZN), Alphabet (GOOG, GOOGL), Apple (NASDAQ:AAPL) and Facebook (NASDAQ:FB) - worth nearly $5T in combined market capitalization - added to gains yesterday even as their chief executives defended themselves in Congress against antitrust allegations. The real test will come today, when the Big Tech companies report Q2 results after the market close. On watch will be figures and trends in e-commerce, streaming, advertising, search, app services, social media and cloud computing. Will investors start rethinking the prices that they're paying for the stocks or will their market position during the coronavirus pandemic justify their valuations?
Antitrust hearing roundup
Rep. David Cicilline (D., R.I.), chairman of the House Judiciary Committee's antitrust subcommittee, kicked off the hearing by declaring: "Our founders would not bow before a king. Nor should we bow before the emperors of the online economy." That set the tone of five hours of grilling the Big Tech CEOs over their business practices. On the competition front, the biggest questions centered around Amazon's leveraging of seller data to introduce competing products, as well as the revelation of Mark Zuckerberg's emails about the concept of buying startups in order to "neutralize a competitor."
Traders get busy
Futures are kicking off a packed session in the red, with contracts tied to the Dow, S&P 500 and Nasdaq down about 1%, as Mark Meadows said the White House and Democrats were "nowhere close" on a stimulus deal. Q2 GDP figures today will likely show an annualized contraction of 34.1% last quarter, while the latest weekly unemployment claims are also expected to show an increase to 1.45M, before enhanced federal benefits expire on Saturday. After the close, four of the market's biggest stocks will report earnings within a single hour, in a move that could cause significant volatility in after-hours trading and again on Friday. On the coronavirus front, the U.S. death toll topped 150K, marking the highest official figure in the world.
FOMC meeting
Solid gains for indexes were seen Wednesday as the Fed left interest rates near zero and pledged to maintain stimulative measures. "The path forward for the economy is extraordinarily uncertain, and will depend in large part on our success in keeping the virus in check," Jerome Powell declared. "We're not even thinking about thinking about raising rates and it will take continued support for both monetary and fiscal policy." He also said the Fed "has no intention to buy equities" after recently purchasing corporate and municipal bonds.
Both sides of the Atlantic
Today is not only the busiest day for earnings in the U.S. European firms worth more than $2T, as well as 60 companies in the Stoxx 600 Index, reported Q2 results overnight. Highlights: AstraZeneca (NYSE:AZN) shares rose 3% premarket on strong drug sales, while Shell (RDS.A, RDS.B) shares inched down after narrowly escaping a loss despite a $17B writedown and one of the oil industry's most brutal quarters. Credit Suisse (NYSE:CS) simplified its investment bank structure, AB InBev (NYSE:BUD) booked a $2.5B writedown and Airbus (OTCPK:EADSY) is keeping production rates down until 2022. Over in Asia, Samsung (OTC:SSNLF) announced its Q2 operating profit jumped 23% and forecast demand for mobile devices to recover gradually in next half of the year.
World's biggest smartphone vendor
Huawei has overtaken Samsung (OTC:SSNLF) to become the No. 1 smartphone player in the world, an ambition it has had for several years, after taking second place from Apple (AAPL) back in 2018. The Chinese vendor shipped 55.8M devices in the second quarter, down 5% Y/Y, according to research firm Canalys, while Samsung shipped 53.7M smartphones, a 30% plunge versus the prior year. However, analysts are questioning whether Huawei's position is sustainable given the fact that over 70% of Huawei's sales in the second quarter came from China while its overseas markets took a hit. Go deeper: Qualcomm strikes patent deal with Huawei.
Trade deal targets
By the end of the first half of this year, China had bought about 23% of the total purchase target of more than $170B for goods in 2020, according to Bloomberg, which based its calculations on Chinese Customs Administration data. While trade has increased over the past eight weeks, with Chinese companies booking more than $2.5B in U.S. soy purchases, imports really have to speed up in the second half of 2020 to hit trade deal goals. China may still not violate the deal if it misses the target due to the coronavirus (the trade pact grants flexibility in the event of "a natural disaster or other unforeseeable event").
What else is happening...
'Nowhere close to a deal' on virus relief - Meadows.
Amazon (AMZN) scraps live Reinvent conference in blow to Las Vegas.
Kodak (NYSE:KODK) ahead of itself on generic drug-stoked rally - Barron's.
Dollar drop plays right into these emerging market ETFs' wheelhouse.
Wednesday's Key Earnings Boeing (NYSE:BA) -2.8% posting wider loss, cutting production rates. General Electric (NYSE:GE) -4.4% hit by decline in jet engine business. General Motors (NYSE:GM) -1.7% reporting mixed results. PayPal (NASDAQ:PYPL) +4.1% AH following consensus-beating guidance. Qualcomm (NASDAQ:QCOM) +13.6% AH on FQ3 beats, Huawei settlement. Shopify (NYSE:SHOP) +7% sailing past estimates.
Today's Markets In Asia, Japan -0.3%. Hong Kong -0.7%. China -0.2%. India -0.9%. In Europe, at midday, London -2%. Paris -1.8%. Frankfurt -3%. Futures at 6:20, Dow -0.9%. S&P -1%. Nasdaq -1.1%. Crude -1.6% to $40.63. Gold +0.8% to $1969.20. Bitcoin -2.9% to $10934. Ten-year Treasury Yield -2 bps to 0.56%
Today's Economic Calendar 8:30 GDP Q2 8:30 Initial Jobless Claims 10:30 EIA Natural Gas Inventory 4:30 PM Money Supply 4:30 PM Fed Balance Sheet
submitted by upbstock to Optionmillionaires [link] [comments]

Why I think Ren is a game-changer for decentralized finance.

I'm Ken the author of The Weekly Coin newsletter, where every week I highlight high potential lower cap cryptocurrency projects one might have overlooked, the projects listed beyond the first page of CoinMarketCap. The Weekly Coin is merely a jumping-off point for you to do your own research.
If you're interested you can sign up for The Weekly Coin here. No ads, no spam, just the results of my research.
This week in The Weekly Coin we’re highlighting Ren. Ren currently lands on the 77th slot on CoinMarketCap. Yea, it's not hidden in the realms of the 2nd CMC pages and beyond. But, after researching this coin, I think it's a game-changer for DeFi and well, the cryptocurrency world as a whole. Also important to note is that I'm not invested in Ren, no one paid me to write this, and of course, I'm not a financial adviser. 😁
TL;DR
Ren allows the free movement of value between all blockchains and transfer of tokens in zero-knowledge. Unlocking new liquidity and resources to power a new wave of value in the open finance movement. With Ren all decentralized applications can run in secret, preserving the privacy of all users and data. (Renproject.io)

What is Ren?

Ren had humble beginnings as a project called Republic Protocol. Republic Protocol launched in 2017 and had their ICO on February 3, 2018. The platform focused on providing decentralized dark pools. A dark pool is a term used in traditional finance for anonymous over-the-counter (OTC) order books without moving the market (more on dark pools here). Republic Protocol's decentralized dark pools were specially designed to combat OTC trading which is known for their high fees and also to help increase institutional money flow into crypto. The technology behind these decentralized dark pools is called RenVM.
💡 Institutional investors want to get in the game but are staying on the sidelines until crypto has matured and risk is low.
RenVM turned out to be the perfect solution for interoperability between blockchains. This is because in a decentralized dark pool blockchains need to see each other. Republic Protocol then saw how massive this opportunity was and rebranded to Ren.
Ren is the evolution of the technology that underpins RepublicProtocol, in its most useful and general form. It becomes something much bigger than Republic Protocol and will empower developers to build decentralized and trustless applications, with a distinct focus on financial applications. Using our own newly developed secure multiparty computation protocol, all DeFi applications will have access to interoperable liquidity and run in complete secrecy. (Ren —The Evolution of a Protocol)
💡 To dumb it down a bit, Ren is the organization's name, REN is the ERC-20 based token, and RenVM is Ren’s core product.

Token use

To put simply, for now, the REN token is used as a work token. The token is used as a bond to run a Darknode. What is a Darknode?
RenVM is replicated over thousands of machines that work together to power it, contributing their network bandwidth, their computational power, and their storage capacity. These machines are known as Darknodes.
Darknodes communicate with other Darknodes around the world to keep RenVM running. Without them, there is no virtual machine upon which Ren can exist. RenVM uses Byzantine Fault Tolerant consensus algorithms and secure multiparty computations so that Darknodes can be operated by anyone without needing to trust them. This is what makes RenVM — and by extension, Ren itself — decentralized, trustless, and private. (Ren Documentation)
Ok so now we know what a Darknode is but what is REN Tokens used for?
The decentralized network of Darknodes is permissionless, but to prevent the forging of a large number of identities a good behavior a bond of 100,000 REN tokens is required in order to register and run a Darknode. This prevents malicious adversaries from running an unbounded number of Darknodes and overwhelming the network with misbehaving Darknodes. (Ren Documentation)
As stated, to run a Darknode you'll need 100,000 REN. You can liken this to Proof of Stake (PoS) systems in which you stake a certain currency to encourage honest behavior in block production. The benefits of running a Darknode is you will be paid transaction fees. Initially, the fees were paid in REN tokens but now Darknode operators can be paid other cryptocurrencies such as BTC, ETH, ZEC, and other ERC20 tokens.
The REN token is required to run a Darknode but the tokens are not required to use RenVM. Let’s say someone wants to acquire BAT with their BTC using a RenVM enabled DEX; where would they get the REN to preform the transaction? A centralized exchange? That defeats the purpose. A decentralized exchange? They'd need ETH or an ERC-20 token. Idk if you've used Uniswap before but you don't need an Uniswap token to swap, send, or pool. Using the RenVM is similar, you don't need to use the REN token.

Why I think Ren is a game-changer

With around 900 million dollars locked up in DeFi it's no secret that DeFi is booming right now. Go to DeFi Pulse and take a look at which chains all the DeFi applications are being built on, go on. What you'll see is every application is built on Ethereum.
Ethereum has a smart contract platform for business logic, whereas Bitcoin doesn't. You can loan and mint something like DAI without trusting an intermediary, all of this is done on Ethereum. But what if you wanted to use Bitcoin on a DEX to get DAI? Another problem is Ethereum doesn't know Bitcoin exists and vice versa. Ren fixes this. You can trade Bitcoin on a DEX like Uniswap against Ethereum or mint Dai with Bitcoin. Check out this Github repo outlining how to enable BTC and ZEC in Uniswap. As a developer of a decentralized exchange myself, I think this is huge. 🔥
Well you might be saying "We have wrapped Bitcoin", well wBTC isn't actually Bitcoin, it's more like an IOU token or a proxy. An imposter!
Well, you might be saying "We have Atomic Swaps", well Atomic Swaps are slow and a bit annoying and complex. The two parties looking to transact have to send the transaction, wait for confirmation, then send a transaction and then finally wait for a confirmation. What if the internet goes down for a person in the party? What happens if the market gets flooded?
With the RenVM it's only one transaction, it's quick, easy, and you send actual Bitcoin. There is also no need for specialized software. The RenVM takes care of it all. Check out these examples of RenVM in action.
https://youtu.be/7nqTpNt4BD0
https://youtu.be/FfQ5gBbhzlc
Also, check out Ren's Chaos Dex where you can swap SAI (DAI) for BTC or ZEC. For more information on Chaos Dex go here. Idk about you but this stuff blows my mind.
Ren is in talks with dApps in the DeFi space making sure RenVM is aligned with their platforms. There also is documentation and integrations for you to build on RenVM. Ren also has been making great strides recently in inter-blockchain liquidity by recently announcing The Ren Alliance.
The Ren Alliance is a consortium of DeFi companies and/or projects that are helping secure, develop, and utilize RenVM. (Introducing the Ren Alliance)
Also, Important to note is Ren has top tier investors in the likes of FGB Capital, Polychain Capital, and Kenetic Capital. But its headlining investor is crypto giant Huobi, which this past July launched its Huobi Cloud platform for OTC desks. Work is being done and a lot of progress is being made.

Why do we even need Interoperability?

I'm gonna yank the text straight from an article by Capgemini which explains the benefits of interoperability quite nicely.
The blockchain-based networks are being built to offer specific capabilities such as making payments, storing and trading assets and others. However, these capabilities are being offered in isolation where these networks don’t talk to each other and cannot share data. Existing centralized systems have evolved to offer the same capabilities in a more integrated way where these systems are able to run end to end transactions seamlessly making it easier for users.
If blockchain-based networks have to make a strong case for their adoption, they have to be able to work with each other and offer this seamless integration of capabilities to their users.
Strong interoperability would give users a much more useful, user-friendly experience. With this interoperability, users will be able to experience the seamless integration of capabilities being offered by the blockchain-based networks. If we have to hypothesize an example, it would look something like this – User will be able to tokenize the asset (e.g. artwork) over Ethereum based DApp, will be able to transfer the tokenized asset to another address over Cardano, and pay any corresponding transaction fees over the bitcoin network. (Capgemini)
The cryptocurrency space is pretty fragmented at times. There also is a bunch of tribalism. It can be a bit annoying. One coin makes massive efforts over here and another coin is making massive efforts over there. What if we could combine the efforts into one big force of nature? I think we can take over the world. Which, would be, huge.
Idk about y’all but I’m gonna be following the Ren team to see what they come up with. The impact this coin can have could be massive. I think Ren is definitely a coin you should look at.
submitted by Raleigh_CA to CryptoCurrency [link] [comments]

Lessons learned - Crypto and Divorce - In January I was a millionaire thanks to BTC, then my wife divorces me and now I have $30,000 AMA

Crossreferencing u/nanoissuperior He wrote earlier today: https://www.reddit.com/CryptoCurrency/comments/a3n6uw/in_january_i_was_a_millionaire_thanks_to_nano_now/
Title: In January I was a millionaire thanks to Nano, now I have $25,000 AMA

I was replying to his post, but my reply ended up being a bit too large as a reply and steered off-topic, albeit an interesting one. So I decided to make it its own post, because there may be a good lessons to be learned and hoping some will come forward with good information to be shared.
I hope it can help anyone on this sub avoid the costly mistakes that I made. Here it goes: FLAIR: LEGAL (not in the list)
----
u/nanoissuperior are you who I think you are? I won't give out any further identifying clues, but I happen to know someone in the exact same position that could have written that exact same headline. If you read the first paragraph, you'll know if you know me.
The person I know bought Nano really early, based on a tip from a friend. I got in much later. By the time he told me it had already spiked to the $5 range, when I ended up buying. I then sold in the $20's so it was a good buy nonetheless. We were former colleagues at a large, large software company somewhere in the PNW, I left the company to venture out on my own and try to launch some projects I had in mind and relocated overseas for a few years. We lost contact with each other during my time away, but we connected again during the market runup and started exchanging coin information on a daily basis during the big bull run of late 2017. That was a crazy time.... the market trend was a few degrees short of vertical for pretty much all coins!

Hey, guess what? Now that I think about it, I could have written that same headline myself! In January 2018 I was a Millionaire too! Not with Nano, but thanks to purchasing a good chunk of Bitcoin in 2011 at $1.20 each. I ended up a single digit millionaire with what I had left in Bitcoin around January of 2018.
And, just like you, today, from all that wealth, I have about $30.000 left, with little to show for. Can we call that even? Although my disaster was not caused entirely by market fluctuation; Mine is a more complex story and I am going to mention it, because hopefully, it could serve as a lesson to be learned for any crypto holder out there, so they don't make the make mistake I made: Don't trust anyone. Always be skeptical and watch out for your own interests. Anyhow, here it goes:
After 5 years overseas, I had enough and wanted to come back to the States. My wife stated her preference to stay abroad, but eventually, she conceded albeit reluctantly. We chose a small town in CO to settle, and landed in November of 2017. We had plans to settle down and considered purchasing a home with my/our new fortune, based on the market price during that period. At the same time, I was also hesitant about the inherent tax payments due caused by such large liquidation. I was trying to have to pay taxes as far away as possible. So, I decided to wait till New Year's Eve and started liquidating my crypto on January 1st, 2018 right after midnight. This way, I would have 16 months (till April, 2019) to pay any capital gains taxes, and I was confident at the time that the market would give me that for free, especially at the pace that it was going. I have been an early adopter and have since then acquired the high levels of verification and trading limits per week, with many exchanges, but for a large sum like this, I needed several separate transactions, over the course of several weeks, especially wanting to do it with a US-based exchange that was linked to a US bank accounts, to avoid overseas wire transfers, meaning more fees. (Yes, I did look at all OTC options, but for reasons not relevant to the story, I couldn't make it happen, so I had to use the traditional Exchange channels for asset liquidation).
My wife and I, initially had some fundamental disagreements on the gross amount to be spent and the type of property we should be purchasing. I wanted a smaller place, with a denser, younger community, where there'd be kids our son's age for him to play. She insisted that we should go big; we had been traveling for so many years, and we had not been able to call any of our past residences our home. It was time to settle and nest; She convinced me that we should own a property of our own that we would be proud of living in for years. One that we could own outright and would not easily outgrow. We ended up splurging and purchased in cash two luxury cars for ourselves and set our sights on a large dream house in the city's Golf & Country Club, free and clear, for us and our two kids. I don't even play golf, nor do I even like it, but, if it makes her happy and it is within the safe margins of making it happen, I figured, why not? My concerns were largely financial and the numbers were adding up. It was a bit tight against my personal safe margins, but, at the same time, I was imagining to never have to make, or even have to think about, a car or home mortgage payment ever again! Bitcoin is on a roll and there is no sign of it stopping. Fine. Let's do it, before I change my mind.
Now, I admit I was extremely lucky with choosing the time of when to sell the assets. I had no clue the market would take a dive in February, and so it seemed to many that I had timed the market perfectly, selling most of my coins in the first two weeks of January of 2018. Many called me a genius for selling at the very top, as if I had some sort of wisdom to know when it would drop; the truth is much less flattering; it was nothing but dumb luck, based on me wanting to pay taxes in 2018 and defer to 2019. Awesome, well done! Yeah? well, slow down, son, not so fast.
So, I gather the 7-digit lumpsum in January 2018 and we write a check for the full amount at closing in February on the property of her dreams. A property that could easily be showcased on a luxury Real Estate magazine cover. Also, remember we had just moved back to the United States with just a few suitcases each from overseas. We had no furniture, kitchenware, curtains, TV's, bed sheets, winter clothing and so many other essential things that one usually purchases over time, but which we now had to purchase all at once. Not a problem, Bitcoin had dropped slightly but still well above $15k, I believe, at the time. And, earlier, in January, I had diligently taken this expense into account and effortlessly set aside a small fortune for equipping such a large house with everything we would ever need, brand new. It seemed we were protagonists of one of the Home Makeover Shows.
Finally, after working day and night, prepping the house non-stop for days and when every piece of furniture had finally arrived, been unpacked and carried to its corresponding room, it seemed most of the essentials were in place and the hard work was done. I longed for pouring myself a Scotch and to finally sit down and enjoy the fruits of my labor. I head downstairs to the dedicated walk-in, cigar-humidor / wine / Scotch cellar in the basement and grab the better bottle of Whisky of the few bottles of Scotch that I had bought earlier in the week. On my way up, I remember feeling a sense of calm, combined with a glow of excitement and this undescribable profound inner peace, all at once. This was such a rare, natural, non-drug induced high that I had never experienced. It felt so good! This sense of accomplishment of achieving that one thing I had been chasing and longing for my entire life. I had expected I would be chasing this goal for the next 15-20 years, and yet, here it was. No, where I was, was even better than expected! A place where not even my parents, who still have to make their monthly mortgage payments. I had done it! With a smile from ear to ear, I take a deep breath of relief and while looking around the property, I think to myself: "It's perfect, everything is in place and I can finally call this our home. We are so lucky and we are going to live a great life. A life that few can only dream of. So many concerns will be lifted and become redundant. Everything will be better. I'll start a fire in one of our two fireplaces and I am going to begin enjoying my semi-retired life with the first sip of my drink. That will be the official start of our new life".
I head over to the kitchen to get a glass and some ice cubes, while I struggle to find which one is the freezer among the many drawers in the kitchen. It was then when I notice a handwritten note placed front and center on the kitchen counter. It is from my wife and read: "There is no easy way to say this, so I am just going to say it..... I want to legally divorce [ ...]". It continued saying that she had taken our son, and had unequivocally decided to leave me. She had already filed the paperwork for divorce and that I should expect to be served in the morning.
My bliss had lasted less than 5 minutes and in less than two seconds, it turned dark, somber and I saw it all crumbling down in front of me. Like a long-awaited rocket launch, years in preparation, which then unexpectedly explodes on the launch pad during the countdown. My stomach, heart and everything in my body just sank and melted into one ball of poison in my core. I felt like throwing up. I was completely blindsided; she had played the game all along, not giving me the slightest hint of what was being concocted in the background. She had already engaged with her lawyers weeks beforehand. Her mother was already in town from another state to help out with I don't know what. I had been gaslighted and was threatened by her that I needed to see a psychiatrist due to a change in my temper that I had supposedly developed - my temper was awesome: with BTC at that price? Everything was perfect! But I obeyed and went anyhow (this would later fit her story that she had to leave with the child because she feared for her safety due to my supposed temper for which I was under treatment, therefore, I must have this temper problem, see?). Also, the purchase of the overpriced home also seemed clearly premeditated: Price was the main driver of the decision making; not location, demographics, taxes, etc. It was the wrong neighborhood for us (people much older than us, retired, golfers and no kids the same age as our son to play with). Our house happened to also be the most expensive in the neighborhood. I can see it all so clearly now.
See, your crypto coins on the blockchain, are not within the US court's jurisdiction (or, at least, it's quite debatable - a gray area - ask me for the seed and I can tell you that I may have the seed, or that I may not have the seed, I may have the wrong seed, I may have forgotten it, I may have lost it - you can't prove I did not forget, or lost it, etc). However, once it is in FIAT in a bank, or invested in a property, the courts can rule on the asset(s), freeze, disburse or order a sale of the property, etc. It's done all the time.
Also, the coins were technically mine, and by definition private property (not to be divided during the divorce) as they were acquired before the marriage. I could not prove its origins (I bought many of them via direct messaging members on Bitcointalk.org and mining rather than exchanges, so no records, receipts or nothing to prove otherwise: the big exchanges like BitStamp and Coinbase didn't start operations till 2013, if I m not mistaken. Instead, I would talk to one of the forum members offering coins we'd agree on a price, I'd send a check to wherever the individual seller instructed me to (Russia, Bulgaria, Japan, UK. etc) and the coins would be deposited to whatever address I provided. Yes, it was quite crude at the time.
However, once I converted my coins to cash and used that cash to buy a property for the benefit of the family, it became common property and thus she then had rights to a portion of it when divided between the two parties should a divorce occur - which ended up being almost 3/4 of all assets.
I was robbed in broad daylight. By the one person, I trusted with my life. The one you should trust with your life. Your life partner. And while I was in complete denial, trying to bargain, I waited too long to obtain good legal representation. When I finally ended up getting a lawyer, I was quite distraught and I clearly did not do the proper research and this resulted in a less than stellar performance and detrimental to me at many key steps in the process. I had to switch legal representation right before mediation and I can't blame my new lawyer either, as (s)he did not have the required time to catch up on all the details, (s)he did his/her best, but I was ultimately strongarmed into conceding my soon-to-be-ex-wife to let her return to the house, in exchange to obtain 50% of my son's custody, with serious and strict clauses I had to abide by. So, I had to move out, find a hole in the wall in a student apartment, pay my rent and pay our kids pre-school, while she lives grandiose, without monthly payments in the country club, till the house sells, which will likely be in the spring of next year. Nice!
Due to my delay, legal mishandling and somehow every other element in her favor, she inexplicably ended up with around 3/4 of the worth of all assets, free and clear, no taxes due. Mind you, she has never financially contributed, nor made a single $ during our entire marriage. She has never worked and had $0 in her pocket when we married. She didn't even have a checking account, well in her thirties. She is no dummy; she is street smart, knows how to manipulate people, get her way with flirting and charm, while I am more intellectual and book smart. and She beat me hands-down. She is walking away with a sum of, not quite 7 figures, but close.
With what I am left with from the sale of the house, I am responsible to pay for all the capital gains taxes from the liquidation to the IRS, which are due in April 2019. I don't expect there to be more left over than the estimated $30k mentioned above.
Hate the market all you want, I made peace with the market and am keeping busy at hating my ex for a while for putting me in the same situation. She tripped me 1 yard before the finish line and pushed me in the prickly bushes, to cross it by herself. Go figure. When I am done hating her, I'll get back to rebuilding my life again from scratch. I am not worried, I have done it before. Just pissed, I was so close and that I was so naive to not see it coming.
Sorry, I am not meaning to hijack the thread, just wanted you to know that others may have lost more than just "free" money; money we didn't really have to work for. We were the lucky ones. It is what I keep telling myself to stop me from jumping off a bridge.
PS - Woah: Sorry for the wall of text; I was just going to write the first paragraph and ended up venting about my current situation. I know, I should take this issue to /depressed, /exes or /whereisthenearestbridgeIcanjumpfrom.
Hopefully, this can be a lesson to those holding crypto and some can learn what NOT to do. I learned the hard way and was left with nothing. Don't be a nice guy. Don't trust anyone with your crypto. Anyhow, I am sure either our vigilant subreddit bot, or one of the mods will remove my post for not adhering to rule, and if not, I am sure that you fine people will downvote me to hell. Go ahead. Take away from me the little Karma I left too! Thanks!

I learned many lessons, but here are some key ones [IANAL - any crypto-educated AL opinion appreciated here, thanks] :
- Understand the concept of private property - property you acquire before getting married. INAL - this depends on the state legislation, but it is hard to prove with crypto, especially if you obtained your crypto through foreign exchanges, outside of legal jurisdictions, the petitioner might not understand or willing to invest in obtaining subpoenas and requests to businesses operating overseas, as this may result costly.
- Get a lawyer who understands, or is willing to understand crypto, its benefits of being somewhat unreachable and how that can work for you. Don't let them shortchange you with: "well, let's just convert the rest to cash, because that I understand" type of reasoning.
- If you do go to mediation, the above applies as well. This arbitrator or mediator needs to be one that understands the intrinsic details of crypto - for example, during the ATH, I bought 6 digits worth in $USD of Stellar. I used the very first version of the software, supporting Stellar on my hardware device, and put it all in a cold storage wallet somewhere around January. I routinely checked on my coins on the blockchain and they are there. A few months later, I try to access my account and the device returns a different public address, which contains 0 funds. I am still trying to debug this issue with the manufacturer, but the fact is that I was accused of hiding these coins or negligence and was demanded that I paid half of what was lost. or not lost, out of my pocket for money that I didn't have access either. I tried to explain it in the simplest terms, there are risks involved with using first come software. There is no 1800 number, mo tech support. no CEO, no, you can't call the BBB and complain, etc and no one seemed to be able to understand, nor willing to either. It became a huge roadblock for which I had to concede, not cash, but a concession, I was not wanting to concede. The petitioner leaned on the fact that I was either wilfully cheating or stupid enough to lose the coins and managed to create enough doubt in my character and integrity and there was nothing rational I could explain that she, or anyone else in the room would understand. Perhaps mutually contracting a seasoned crypto expert that can offer a neutral view and give his/her opinion might be worth considering. Andreas, where were you when I needed you? :)
- Other examples were some coins I had bought in 2012 and gifted to some of her family's kids. I was holding these, till they would turn 16 for them to pay themselves their college, or so I told them. These coins were demanded back by the petitioner. Ok, I suggested that I would send them, but with a CHECKLOCKTIMEVERIFY value with a block height of let's say,10 years from now, out of fear that she would spend the coins and the kids would never know (they are toddlers). No one understood what I was talking about, I was made out the crazy one, I gave up, sent her the coins, unlocked and, just as I expected, within 20 minutes of receiving them, she spent $1200 worth of it (for a flight, I think). If you are the only one speaking your language, no one is willing to listen or make an effort to understand you.
- It appears my coins were private property, which means, that I acquired them before the marriage and in case of divorce, if I have not moved them or used them for the common good of the marriage, then they remain mine. However, I liquidated them and cash ended up in my checking account to be used to buy groceries, cars and eventually a house, and it is then that they became common property. Only once they landed in my checking account on which she is named on. It appears that had I taken proper legal precautions with documentation, or a company/trust, where that money would have gone, instead of my checking accounts, elsewhere, I would have still been able to be the legal proprietor of the resulting cash. I can't quite remember the details, but it as something that was explained to me afterward, and I honestly think I just tuned it out, because it made me sick to know I could have held on to my wealth. Perhaps a lawyer can chime in? Again, much of the lack of information and every misstep taken was because of dealing with people that are accustomed to traditional assets and will not deviate from it. Crypto is different and is treated differently. It is so important to know the strengths and weaknesses when going into litigation about something that people don't understand.
- Some more I can think of, but this post is getting way out of hand in size. Feel free to comment/suggest your own and I'll add more to the comments.

Credits to: u/nanoissuperior Thanks for your post, it inspired me to write this one. Anyone, any karma you feels needs to go his way, for providing the source of inspiration, please give to O-OP.

TL;DR: Wife, having contributed $0 during entire marriage, waited until I cashed out all my crypto at the top of the bull market in January 2018, for a nice seven-figure amount, and then immediately divorced me for the money.

Edit: added TL;DR
submitted by mijalis to CryptoCurrency [link] [comments]

WaykiChain CEO Gordon Gao: What is WaykiChain doing now?

WaykiChain CEO Gordon Gao: What is WaykiChain doing now?
https://preview.redd.it/i6sd5ax60ow41.jpg?width=1200&format=pjpg&auto=webp&s=8d4171bd4831ce2cfd6fa0bd9b598888d3a100cb
Recently, there have been many thoughts on the development direction of blockchain and WaykiChain. I have found some certainty in the world of uncertainty. How does WaykiChain understand the development of the public chain? What is WaykiChain development direction based on these understandings? What should the community expect and pay attention to? I will share with you the answers to these questions.
How does WICC increase prices?
WICC is the basic digital currency on the WaykiChain public chain. According to its white paper, when this coin was issued in the early period, more than 70% of the chips were in circulation in the secondary market This is a relatively high proportion, comparing to most of blockchain projects. This high circulation ratio is like a double-edged sword. The disadvantage is that foundation has relatively weak control over its value in the secondary market. It is also difficult to manipulate the price to create some false market value to deceive the public. The advantage is that WICC can have a wide range of coin holders and community members. Meanwhile, more coin holders mean that when WICC is found to have price increase expectations, such expectations will be spread by the population, which can result in a large-scale network effect. In 2018, WaykiChain relied on this network effect to make a big hit in the market. At that time, the number of WICC holders was about 100,000 (WICC holders in exchange).
However, the communities merely brought by price increase expectations are not sustainable. Those people came because of profit, and they will leave because of no profit. Those who made money or lost money on WaykiChain will scold after the currency price fell. In the bear market, it is almost difficult for people to have confidence in altcoins. It is difficult for people to invest in your long-term future with real money no matter what expectations they receive. Then, how to make WICC valuable in this bear market? We can conclude by the nature of price increases, which is fewer people selling and more people buying.
Staking economy is an effective way to achieve“few people selling”. This kind of gameplay is not widely used in the traditional field as it is in the crypto circle.
Most of Staking’s gameplay is to give you a dollar profit to make you unwilling to sell your 100 dollar coins. This approach may have a positive effect in the short term, but in the long term, it is no different from the Ponzi scheme. The other method is the DeFi. In DeFi, people need to collateralize their coins and get something that can bring value to them. For example, mortgage lending. When you are unwilling to sell your coins and lack money, the CDP mortgage lending system can meet your needs. At this time, the WICC in your hand becomes a “ticket” to participate in the CDP mortgage lending system. The collateralization generated by this real demand is often solid because such users are less likely to quit fast. Because they benefit from WaykiChain and believe this kind of service will generate value, so it is not a zero-sum game. In the end, most of the people here are winners, so they cherish their chips.
Once there are more users, there should be more reasons for them to buy more continuously. The reason for most people who buy token is nothing more than to see some good news which can be predicted. Halving is predicted, so there was a decent run at the start of the year. The World Cup was also a prediction and it is a piece of good news for betting-related blockchain. This prediction of a high degree of certainty in time can prompt a frenzied influx. But other than this quadrennial prediction(Halving or World Cup) of events, what expectations do you have for the community?
The first is the technical aspect. A good technical public chain can attract more developers, and more developers can build more business models and have more imagination.
To realize the expectation of the business model, users should value the future business growth of your current track and the most direct promotion of the economic model after the growth. For example, the growth of the mortgage lending business. The total collateral of WICC gets bigger ->Less liquidated WICC ->WICC’ s unit price raises with the demand stays the same. Or growth in mortgage lending->WGRT destruction becomes more numerous->WGRT’s unit price raises. This business model creates a rigid value in a currency.
Finally, there comes the marketing ability, the user toned to trust that you are able to attract more investors at some point in the future. All financial activities generate bubbles, and how big an asset you end up with depends both on how much beer you have and how much bubble you can pour. If building business value is about brewing, marketing, and storytelling, it’s about pouring beer out of the bubble.
About liquidity
When it comes to liquidity, some people’s understanding of liquidity of a coin is to be listed on more exchanges, some people know a bit about some financial markets, so they say liquidity is the depth of the order book. I recently get some inspirations from David in Coinbase. Liquidity can be measured by the time you spend to convert an asset to purchase power.
Cash is with the best liquidity, as it is almost equal to purchasing power. Property is less liquid because there are very few situations where you buy something directly from the house. Usually, you will have to turn it into cash and buy something else. So there’s a long period between when you decide to sell the house and when you get the money, and the longer that period is, the less liquid it is. USDT is relatively liquid because OTC transactions, which is a mature market in the current situation, allow people to convert the USDT into fiat money in minutes.
Note that the above mentioned is to turn assets into purchasing power, rather than cash out. These two are essentially different. For example, if I want to purchase some service from a crypto media, I often use Eth, BTC, USDT, not cash. So I don’t need to sell off my digital currency to exchange cash, but directly pay it, which becomes purchasing power. From this perspective, any merchant accepting digital currency payments is enhancing the liquidity of the digital currency. Because he shortens the time it takes for assets to become purchasing power.
As I said before, the keyword of the Internet fights is traffic, and the keyword of digital currency is liquidity. Much of what WICC does is to increase liquidity. Listing on Exchange shortens the time for WICC to transform into the purchasing power of other digital currencies. In real application scenarios, many people are reluctant to undertake the risk of digital currency fluctuations. They only like to denominate in fiat currency, so WUSD (stablecoin) that is generated by collateralizing WICC has better potential than WICC to become purchasing power. Huatong Security accepts WUSD as a payment method to buy HK/US Pre-IPO stocks shortens the time when some people want to convert WUSD into the purchasing power of Hong Kong and US stocks (In the normal process, this user must first sell, exchange fiat currency, and then open an account to buy Hong Kong and US stocks). The new project WaykiX shortens the time required to transform WICC into the purchasing power of investing in various assets around the world.
Bitcoin’s technology has not been greatly updated since its inception, but its value remains the leader because of its liquidity. Similarly, in my opinion, the market value of USDT has soared because liquidity is becoming more and more mature. WaykiChain’s future development is also inseparable from liquidity.
About Defi
As mentioned above, liquidity is important. If you want to improve liquidity, you can cash out first and use cash to purchase most of things you want. However cash out itself is not what a project expects, because it will dump the price when a lot of people doing that. Therefore, collateralizing assets, generating stablecoins, and then enabling stablecoins to generate purchasing power has become a perfect model, which is the essence of WaykiChain 3-Token Economy Model.
Regarding purchasing power, first we need to know what users want to buy. Many public chain projects, including WaykiChain, have begun to explore what kind of products and services that users want to buy. For example, betting products, value-added game services, or even e-commerce. All of these end up with nearly no results. As speculators’ paradise, the cryptocurrency circle usually care about borrowing money to make money. So, there is nothing more interesting for them than lending and making money. These people may not have the need to play games or buy things, but they must have the demand to make money. Therefore, finance must be the right direction for blockchain projects. WaykiChain will all in DeFi for at least the next two years.
Many people say that WUSD is a stablecoin, so it needs to be compared with USDT. Rather than emphasize WUSD itself, I would rather like to say that WaykiChain ’s CDP is a lending system and service, and WUSD is just a stable value certificate. I am more concerned about the capacity of the CDP lending business itself, and whether it can provide users with the value of lending. As for when WUSD can become a freely circulating currency, it will take a long time to see how much purchasing power is endowed. Maybe at first, WUSD could buy WICC, WGRT, then the index of various global assets, then other digital currencies, then some Hong Kong stocks and US stocks, and finally maybe you can buy two packs of snacks with WUSD downstairs.
Simple preview of the new product WaykiX, users can trade all kinds of global assets, including digital currencies, indices, stocks, commodity futures, and even contracts. We have high expectations for this product because we feel it can meet the “purchase” needs of most existing community users. This product learns from the Synthetix project and adds some local elements of WaykiChain, including the technical security reinforcement, as well as the improvement of the economic model and the risk resistance level.
Someone asked, Ethereum has a complete DeFi ecosystem, and there are countless projects to start a business together. Why does WaykiChain have the power to fight with Ether? I would like to share a few points. The DeFi of Ethereum is aimed at users of Ethereum. We are currently targeting WaykiChain users. There is no conflict at present. In addition, DeFi seems to have a variety of patterns. It is nothing more than the four major categories of deposits, loans, liquidity, and derivatives. Our current developer community is not as prosperous as Ethereum, so WaykiChain uses a point-to-face model to first construct the core and head of DeFi to ensure quality and safety. When it can form a minimum closed-loop, and then let developers support those long-tail applications. Although it is a bit contrary to the concept of decentralization, we believe that this is an indispensable process for the implementation of the blockchain public chain。
About community
I mentioned three directions in the first chapter on how to create the value of WaykiChain, the first is technology, the second is business model and applications, and the third is the marketing model and bubble.
In fact, a healthy blockchain community is also attracted by these three parts of value, a core developer community, some coin holders with business needs, and a group of speculation or investors. To achieve the top five public chains in the world, these three groups must be huge.
WaykiChain attracts the core developer community through the leading technology mechanism and the friendliness of public chain development. This is the reason why WaykiChain has invested a lot of resources in the technical level of the public chain.
WaykiChain continues to create value for currency holders to meet their needs through the DeFi business.
And eye-catching marketing methods to attract investors and speculators when market conditions improve and new market capital are sufficient.
The bull market is short while the bear market is long. In the bear market, WaykiChain needs to continue to play at the table in a way with a high winning rate. These are my personal opinions. Welcome to discuss more with me.
submitted by Waykichain to WICCProject [link] [comments]

Huobi Exchange Review

A HISTORY OF HUOBI
Huobi was founded in 2013 by their current CEO and chairman, Leon Li. Li’s background includes having attended Tshingua University, specializing in Automation. Before starting the Huobi Group, Li spent time as a computer engineer at Oracle. In December of 2013, Huobi was named as the largest digital asset exchange operating in China. 2017 saw Huobi extend their limbs into Korea, Singapore, and Japan.
Currently, Huobi has headquarters of various financial sectors based in: Singapore; South Korea; Japan; Australia; Indonesia; Russia; Argentina; Thailand; and China. The company has strived to give customers not only a great exchange, but a great resource for any service one may need. Despite the many difficulties faced with Chinese government in regards to cryptocurrency laws, Huobi has managed to adapt to the changes and thrive globally, eventually branching off into various sectors including venture capital, a cryptocurrency wallet project, and a division dedicated to working with mining pools.

HUOBI'S PLATFORM
spot trading : Huobi offers several different platforms to serve any customer’s needs. For starters, Huobi offers a standard spot trading platform that operates similarly to many other spot trading platforms in the industry. The platform features a multi-timeframe chart, a depth chart, and integration with TradingView (including their tools). Customers are able to view the order book and the asset trading history, as well as their own personal order history. Limit orders, Market orders, and Stop-Limit orders are all available options for traders.
margin trading : For the trader that prefers to trade with a little more volume or risk, Huobi offers a Margin trading platform. Customers can apply for loans through Huobi to trade a greater quantity of cryptocurrencies and profit from the price spread. The original loan must be paid back, and accounts can be liquidated if the risk ratio falls below 110% (calculated as: [(Loaned Amount + Tradable Balance) Total Asset] / [(Interest Payable + Loaned Amount)] x 100%.) Traders can margin trade with Bitcoin; Ethereum; XRP; Litecoin; Bitcoin Cash; and EOS. These assets can be traded with USDT or BTC.
futures trading : Huobi also offers a Futures trading platform. While margin trading can be risky, trading contracts is said to be very high-risk. With that being said, Huobi offers Weekly, Bi-Weekly, and Quarterly contracts in Bitcoin; Ethereum Classic; Ethereum; EOS; Litecoin; Bitcoin Cash; XRP; TRX; and Bitcoin SV.
OTC(P2P) - The OTC, or over-the-counter, section of Huobi offers potential buyers and sellers a way to move large quantities of coins without exposure to the fickle exchange market. Certified merchants can register here, and slippage can be minimized by matching buyers and sellers directly instead of creating market orders.


HUOBI APPS
While you do have the online trading interface, Huobi does have computer programs and mobile apps that you can use.
I found that the PC programmes were more functional as they did not have to rely on the PC browser and were hence much faster. They also have better charting and you are in more control of your trading parameters. These programs are available on Windows and Mac devices.
However, if you are a trader that is always on the go, that is where the Huobi mobile apps come in. These were developed for the main exchange but you can switch to the derivative markets on the futures and swaps platform.
This was a pretty well designed application and you have one-touch ordering as well as some basic charting functionality. The app is available in iOS and Android and you can head on over to the respective app stores to get a sense of the feedback.


EXCHANGE SECURITY
Huobi operates a hot and cold wallet storage procedure. This means that they keep the vast amount of their coin holdings in an offline environment away from hackers. They then have a smaller percentage in “hot” wallets with multisig capability.
They also operate a decentralized server structure around the world which can ensure uptime irrespective of whether one of the servers goes down. You can think of this as effective load balancing.
Finally, they have anti DDoS measures in place. We all know that crypto exchanges are prime targets for Denial of Service attacks and it can be quite frustrating when these are perpetrated in peak market times.


IS HUOBI TRUSTWORTHY?
Huobi, like many exchanges in the space, has had, at one time, some shady history, but for the most part, has managed to maintain a clean reputation. Historically, Chinese exchanges have shown to operate in accordance with different standards, with many exchanges having to suffer at the will and whim of the Chinese government. Some of the controversy Huobi has seen in the past has been a result of this (particularly with the Chinese ban on ICO tokens). It should be noted that in 2017, the exchange did invest into “wealth-management products” using idle customer funds. This sort of activity shouldn’t be taken lightly.
However, with that being said, the exchange continues to turn over a large amount of volume. For the most part, the exchange can be considered a trustworthy platform to trade popular and exotic cryptocurrencies. This does not mean it is entirely safe to store user funds on the exchange, as the exchange (or the user funds) can be susceptible to risk at any given moment. No matter how comfortable one may be with the internet, one should always remember that the internet is not as safe as many would like to believe. Huobi does have measures in place in the unfortunate event that an account is breached, and if verifiable, the customer may be able to retrieve lost funds.
A unique feature offered on Huobi is their Official Media Authenticator. This essentially lets users enter the URL of a content channel to see if the channel is authentic. A feature like this, while seemingly simple, could save anyone from potentially losing their funds due to a scam or phishing website.


HUOBI REVIEW VERDICT
Huobi Global offers a signficant host of features to its users and has maintained its credibility over a long period of time. This is largely one of the main reasons it a ranked as a top 4 exchange by liquidity as its users trust their funds there.
After establishing itself in Asia, Huobi is trying to branch out and take on other areas of the globe which is great news for Western traders. Additionally, the Huobi prime platform could provide some great opportunities for the exchange users moving forward.

Huobi Website: https://www.huobi.com/topic/invited/?invite_code=q7g23
Huobi Indian Community: https://t.me/huobiglobalindia
Huobi Global Community: https://t.me/huobiglobalofficial
submitted by chamithasro to u/chamithasro [link] [comments]

Deribit (For Derivatives) Support Number ------+1(855) 266-9652---these transactions are submitted to the exchange for execution and clearing.


Deribit (For Derivatives) Support Number ------+1(855) 266-9652
📷

Block trades are privately negotiated, principal-to-principal transactions in futures or options, or spreads and combinations of the two, that exceed certain minimum quantity thresholds. Once traders agree on a price, these transactions are submitted to the exchange for execution and clearing.

In existing financial markets, institutional traders prefer this method of transacting when they believe that there is insufficient liquidity in the order book to execute a large trade at a specific price in a single transaction. In other words, block trades reduce slippage and minimize impact on the market price since the transaction is negotiated away from the order book.

Cryptocurrency derivatives exchange Deribit and Paradigm, the first institutional-grade OTC communication platform, have launched a joint workflow solution for institutional crypto-derivative traders. This partnership represents the next step in catering to growing institutional demand for crypto derivatives and launches the world’s first multi-instrument block-trading solution offered by a crypto-derivative exchange. Block trading on Paradigm is currently live with some of the most renowned institutional trading firms.

This new block-trading solution will enable institutions to directly negotiate crypto-derivative trades with counterparties of their own choosing, via chat on Paradigm. Once agreed, the trade information will automatically be submitted to Deribit for execution and clearing.

Previously, no other exchange has offered a block-trading facility for crypto derivatives. Instead, institutional traders privately negotiated large trades via Telegram or Skype and then manually coordinated execution on Deribit’s order book. This approach exposed traders to a significant amount of execution-related market risk, especially for spread and combination trades.

In addition to the automated blocking functionality, Paradigm also provides an exceptional suite of institutional trading tools. Some of the most desired tools include automated RFQs, a full audit trail, a directory of potential counterparties and the ability to “approve” specific counterparties before a trading relationship is initiated with them. This workflow offers institutions the opportunity to conduct their own due diligence on counterparties in order to satisfy their own regulatory requirements and firm policies. A full set of features on Paradigm can be found below.

“For the first time, institutions that trade crypto derivatives in large volumes can negotiate privately on the Paradigm platform, after which the trade will be automatically executed, margined and cleared at Deribit and displayed on the public tape as a block trade, eliminating any execution risk associated with the order book” said XBTO Group’s CEO Philippe Bekhazi. “When excellent companies operating in a similar space work together by leveraging relationships and sharing ideas, everyone wins – including, most importantly, the end user.” XBTO Ventures is an investor in both Paradigm and Deribit.

Crypto-derivative block trading on Deribit will be available both through the Paradigm system and directly via Deribit’s API. Traders will have access to block trades in Bitcoin (BTC) or Ethereum (ETH) backed futures and options, including spreads and combinations of the two products.

The Paradigm platform is accessible to professional traders, by invitation only. Interested parties should submit a request here or join Paradigm’s Telegram channel for more information. Access is restricted to applicants who have been approved by Paradigm following its internal review process. A full list of territories where Paradigm may not be accessed can be found here. At this time, Paradigm may not be accessed by U.S. persons or IP addresses.
submitted by coinbasesupportnsd to u/coinbasesupportnsd [link] [comments]

Deribit Customer Customer Support Number ------+1(855) 266-9652---//////


Deribit (For Derivatives) Support Number ------+1(855) 266-9652
📷

Block trades are privately negotiated, principal-to-principal transactions in futures or options, or spreads and combinations of the two, that exceed certain minimum quantity thresholds. Once traders agree on a price, these transactions are submitted to the exchange for execution and clearing.

In existing financial markets, institutional traders prefer this method of transacting when they believe that there is insufficient liquidity in the order book to execute a large trade at a specific price in a single transaction. In other words, block trades reduce slippage and minimize impact on the market price since the transaction is negotiated away from the order book.

Cryptocurrency derivatives exchange Deribit and Paradigm, the first institutional-grade OTC communication platform, have launched a joint workflow solution for institutional crypto-derivative traders. This partnership represents the next step in catering to growing institutional demand for crypto derivatives and launches the world’s first multi-instrument block-trading solution offered by a crypto-derivative exchange. Block trading on Paradigm is currently live with some of the most renowned institutional trading firms.

This new block-trading solution will enable institutions to directly negotiate crypto-derivative trades with counterparties of their own choosing, via chat on Paradigm. Once agreed, the trade information will automatically be submitted to Deribit for execution and clearing.

Previously, no other exchange has offered a block-trading facility for crypto derivatives. Instead, institutional traders privately negotiated large trades via Telegram or Skype and then manually coordinated execution on Deribit’s order book. This approach exposed traders to a significant amount of execution-related market risk, especially for spread and combination trades.

In addition to the automated blocking functionality, Paradigm also provides an exceptional suite of institutional trading tools. Some of the most desired tools include automated RFQs, a full audit trail, a directory of potential counterparties and the ability to “approve” specific counterparties before a trading relationship is initiated with them. This workflow offers institutions the opportunity to conduct their own due diligence on counterparties in order to satisfy their own regulatory requirements and firm policies. A full set of features on Paradigm can be found below.

“For the first time, institutions that trade crypto derivatives in large volumes can negotiate privately on the Paradigm platform, after which the trade will be automatically executed, margined and cleared at Deribit and displayed on the public tape as a block trade, eliminating any execution risk associated with the order book” said XBTO Group’s CEO Philippe Bekhazi. “When excellent companies operating in a similar space work together by leveraging relationships and sharing ideas, everyone wins – including, most importantly, the end user.” XBTO Ventures is an investor in both Paradigm and Deribit.

Crypto-derivative block trading on Deribit will be available both through the Paradigm system and directly via Deribit’s API. Traders will have access to block trades in Bitcoin (BTC) or Ethereum (ETH) backed futures and options, including spreads and combinations of the two products.

The Paradigm platform is accessible to professional traders, by invitation only. Interested parties should submit a request here or join Paradigm’s Telegram channel for more information. Access is restricted to applicants who have been approved by Paradigm following its internal review process. A full list of territories where Paradigm may not be accessed can be found here. At this time, Paradigm may not be accessed by U.S. persons or IP addresses.
submitted by supportnumberw to u/supportnumberw [link] [comments]

Deribit (For Derivatives) Support Number ------+1(855) 266-9652 . Once agreed, the trade information will automatically be submitted to Deribit for execution and clearing.


Deribit (For Derivatives) Support Number ------+1(855) 266-9652


Block trades are privately negotiated, principal-to-principal transactions in futures or options, or spreads and combinations of the two, that exceed certain minimum quantity thresholds. Once traders agree on a price, these transactions are submitted to the exchange for execution and clearing.

In existing financial markets, institutional traders prefer this method of transacting when they believe that there is insufficient liquidity in the order book to execute a large trade at a specific price in a single transaction. In other words, block trades reduce slippage and minimize impact on the market price since the transaction is negotiated away from the order book.

Cryptocurrency derivatives exchange Deribit and Paradigm, the first institutional-grade OTC communication platform, have launched a joint workflow solution for institutional crypto-derivative traders. This partnership represents the next step in catering to growing institutional demand for crypto derivatives and launches the world’s first multi-instrument block-trading solution offered by a crypto-derivative exchange. Block trading on Paradigm is currently live with some of the most renowned institutional trading firms.

This new block-trading solution will enable institutions to directly negotiate crypto-derivative trades with counterparties of their own choosing, via chat on Paradigm. Once agreed, the trade information will automatically be submitted to Deribit for execution and clearing.

Previously, no other exchange has offered a block-trading facility for crypto derivatives. Instead, institutional traders privately negotiated large trades via Telegram or Skype and then manually coordinated execution on Deribit’s order book. This approach exposed traders to a significant amount of execution-related market risk, especially for spread and combination trades.

In addition to the automated blocking functionality, Paradigm also provides an exceptional suite of institutional trading tools. Some of the most desired tools include automated RFQs, a full audit trail, a directory of potential counterparties and the ability to “approve” specific counterparties before a trading relationship is initiated with them. This workflow offers institutions the opportunity to conduct their own due diligence on counterparties in order to satisfy their own regulatory requirements and firm policies. A full set of features on Paradigm can be found below.

“For the first time, institutions that trade crypto derivatives in large volumes can negotiate privately on the Paradigm platform, after which the trade will be automatically executed, margined and cleared at Deribit and displayed on the public tape as a block trade, eliminating any execution risk associated with the order book” said XBTO Group’s CEO Philippe Bekhazi. “When excellent companies operating in a similar space work together by leveraging relationships and sharing ideas, everyone wins – including, most importantly, the end user.” XBTO Ventures is an investor in both Paradigm and Deribit.

Crypto-derivative block trading on Deribit will be available both through the Paradigm system and directly via Deribit’s API. Traders will have access to block trades in Bitcoin (BTC) or Ethereum (ETH) backed futures and options, including spreads and combinations of the two products.

The Paradigm platform is accessible to professional traders, by invitation only. Interested parties should submit a request here or join Paradigm’s Telegram channel for more information. Access is restricted to applicants who have been approved by Paradigm following its internal review process. A full list of territories where Paradigm may not be accessed can be found here. At this time, Paradigm may not be accessed by U.S. persons or IP addresses.
submitted by Lopsided-Support to u/Lopsided-Support [link] [comments]

Deribit (For Derivatives) Support Phone -- Number ------+1(855) 266-9652Get help Now


Deribit (For Derivatives) Support Number ------+1(855) 266-9652
📷

Block trades are privately negotiated, principal-to-principal transactions in futures or options, or spreads and combinations of the two, that exceed certain minimum quantity thresholds. Once traders agree on a price, these transactions are submitted to the exchange for execution and clearing.

In existing financial markets, institutional traders prefer this method of transacting when they believe that there is insufficient liquidity in the order book to execute a large trade at a specific price in a single transaction. In other words, block trades reduce slippage and minimize impact on the market price since the transaction is negotiated away from the order book.

Cryptocurrency derivatives exchange Deribit and Paradigm, the first institutional-grade OTC communication platform, have launched a joint workflow solution for institutional crypto-derivative traders. This partnership represents the next step in catering to growing institutional demand for crypto derivatives and launches the world’s first multi-instrument block-trading solution offered by a crypto-derivative exchange. Block trading on Paradigm is currently live with some of the most renowned institutional trading firms.

This new block-trading solution will enable institutions to directly negotiate crypto-derivative trades with counterparties of their own choosing, via chat on Paradigm. Once agreed, the trade information will automatically be submitted to Deribit for execution and clearing.

Previously, no other exchange has offered a block-trading facility for crypto derivatives. Instead, institutional traders privately negotiated large trades via Telegram or Skype and then manually coordinated execution on Deribit’s order book. This approach exposed traders to a significant amount of execution-related market risk, especially for spread and combination trades.

In addition to the automated blocking functionality, Paradigm also provides an exceptional suite of institutional trading tools. Some of the most desired tools include automated RFQs, a full audit trail, a directory of potential counterparties and the ability to “approve” specific counterparties before a trading relationship is initiated with them. This workflow offers institutions the opportunity to conduct their own due diligence on counterparties in order to satisfy their own regulatory requirements and firm policies. A full set of features on Paradigm can be found below.

“For the first time, institutions that trade crypto derivatives in large volumes can negotiate privately on the Paradigm platform, after which the trade will be automatically executed, margined and cleared at Deribit and displayed on the public tape as a block trade, eliminating any execution risk associated with the order book” said XBTO Group’s CEO Philippe Bekhazi. “When excellent companies operating in a similar space work together by leveraging relationships and sharing ideas, everyone wins – including, most importantly, the end user.” XBTO Ventures is an investor in both Paradigm and Deribit.

Crypto-derivative block trading on Deribit will be available both through the Paradigm system and directly via Deribit’s API. Traders will have access to block trades in Bitcoin (BTC) or Ethereum (ETH) backed futures and options, including spreads and combinations of the two products.

The Paradigm platform is accessible to professional traders, by invitation only. Interested parties should submit a request here or join Paradigm’s Telegram channel for more information. Access is restricted to applicants who have been approved by Paradigm following its internal review process. A full list of territories where Paradigm may not be accessed can be found here. At this time, Paradigm may not be accessed by U.S. persons or IP addresses.
submitted by Even-Initiative to u/Even-Initiative [link] [comments]

Order Book Indicator Secrets To Make Better Trades! - YouTube Bitvalex - Bitcoin and Crypto OTC trading for large orders ... Bitcoin & Cryptocurrency OTC Markets The Inside Story Trading Bitcoin - Let's Get an Update of $BTC Order Book w/ Joe Saz Bitcoin & Cryptocurrency OTC Orders Explained - Part 1 ...

OTC (n): Over-the-counter is a fancy way of saying “decentralized trading”. Orders are not listed on a public order book. Clients can trade with each via broker without anyone else knowing ... It is present on #bitcoin (general discussion), #bitcoin-core-dev (bitcoin information queries), #bitcoin-otc (facilitate over-the-counter trading, with the OTC order book and OTC web of trust), and a number of other channels. You can also PM commands to gribble and it will PM back. Bitcoin OTC Brokers – Buying Large Amounts of Bitcoin. By: Ofir Beigel Last updated: 10/9/20 The standard methods used by most people for buying Bitcoin aren’t always suitable for high volume purchases, due to high transaction fees and a limited supply on Bitcoin exchanges.. Moreover, some investors wish to stay under the radar and not drastically affect Bitcoin’s price by placing ... The Bitcoin-OTC project is a marketplace for people to conduct over-the-counter trading in bitcoin. It is located in various IRC channels on the freenode IRC network: . Trading in the market is facilitated by the gribble bot, which takes care of maintaining the outstanding order book, as well as a web of trust user rating system.All trades are conducted between users directly, without any ... OTC trades are conducted privately without the use of a public order book. This provides privacy to the clients, but it also allows for the movement of large amounts of bitcoin without disrupting markets or moving the price of bitcoin excessively. Why OTC Trading Makes Sense

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Order Book Indicator Secrets To Make Better Trades! - YouTube

How Large OTC Orders Work - Part 2 In this video I sit down with Caleb and Brown CEO Prash to discuss Bitcoin buying conditions in the OTC cryptocurrency market. Firstly, thanks for watching I ... This video is unavailable. Watch Queue Queue. Watch Queue Queue This is the first video in a series that tackles how to interpret order flow and use it to trade profitably. Trading Order Flow/Market Sentiment on the Bitco... Let me know what you thought about this training in the comments! 👇SUBSCRIBE TO JAMESON'S YOUTUBE CHANNEL NOW!👇 http://bit.ly/jamesonbrandon #1 Way to Grow Y... Trading Bitcoin - Let's Get an Update of $BTC Order Book w/ Joe Saz 👉 Subscribe so you don't miss the next one: http://bit.ly/2QKVDdV Check below for even...

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