Buy Bitcoin Online: 21+ Trusted Sites (2020)

Bob The Magic Custodian



Summary: Everyone knows that when you give your assets to someone else, they always keep them safe. If this is true for individuals, it is certainly true for businesses.
Custodians always tell the truth and manage funds properly. They won't have any interest in taking the assets as an exchange operator would. Auditors tell the truth and can't be misled. That's because organizations that are regulated are incapable of lying and don't make mistakes.

First, some background. Here is a summary of how custodians make us more secure:

Previously, we might give Alice our crypto assets to hold. There were risks:

But "no worries", Alice has a custodian named Bob. Bob is dressed in a nice suit. He knows some politicians. And he drives a Porsche. "So you have nothing to worry about!". And look at all the benefits we get:
See - all problems are solved! All we have to worry about now is:
It's pretty simple. Before we had to trust Alice. Now we only have to trust Alice, Bob, and all the ways in which they communicate. Just think of how much more secure we are!

"On top of that", Bob assures us, "we're using a special wallet structure". Bob shows Alice a diagram. "We've broken the balance up and store it in lots of smaller wallets. That way", he assures her, "a thief can't take it all at once". And he points to a historic case where a large sum was taken "because it was stored in a single wallet... how stupid".
"Very early on, we used to have all the crypto in one wallet", he said, "and then one Christmas a hacker came and took it all. We call him the Grinch. Now we individually wrap each crypto and stick it under a binary search tree. The Grinch has never been back since."

"As well", Bob continues, "even if someone were to get in, we've got insurance. It covers all thefts and even coercion, collusion, and misplaced keys - only subject to the policy terms and conditions." And with that, he pulls out a phone-book sized contract and slams it on the desk with a thud. "Yep", he continues, "we're paying top dollar for one of the best policies in the country!"
"Can I read it?' Alice asks. "Sure," Bob says, "just as soon as our legal team is done with it. They're almost through the first chapter." He pauses, then continues. "And can you believe that sales guy Mike? He has the same year Porsche as me. I mean, what are the odds?"

"Do you use multi-sig?", Alice asks. "Absolutely!" Bob replies. "All our engineers are fully trained in multi-sig. Whenever we want to set up a new wallet, we generate 2 separate keys in an air-gapped process and store them in this proprietary system here. Look, it even requires the biometric signature from one of our team members to initiate any withdrawal." He demonstrates by pressing his thumb into the display. "We use a third-party cloud validation API to match the thumbprint and authorize each withdrawal. The keys are also backed up daily to an off-site third-party."
"Wow that's really impressive," Alice says, "but what if we need access for a withdrawal outside of office hours?" "Well that's no issue", Bob says, "just send us an email, call, or text message and we always have someone on staff to help out. Just another part of our strong commitment to all our customers!"

"What about Proof of Reserve?", Alice asks. "Of course", Bob replies, "though rather than publish any blockchain addresses or signed transaction, for privacy we just do a SHA256 refactoring of the inverse hash modulus for each UTXO nonce and combine the smart contract coefficient consensus in our hyperledger lightning node. But it's really simple to use." He pushes a button and a large green checkmark appears on a screen. "See - the algorithm ran through and reserves are proven."
"Wow", Alice says, "you really know your stuff! And that is easy to use! What about fiat balances?" "Yeah, we have an auditor too", Bob replies, "Been using him for a long time so we have quite a strong relationship going! We have special books we give him every year and he's very efficient! Checks the fiat, crypto, and everything all at once!"

"We used to have a nice offline multi-sig setup we've been using without issue for the past 5 years, but I think we'll move all our funds over to your facility," Alice says. "Awesome", Bob replies, "Thanks so much! This is perfect timing too - my Porsche got a dent on it this morning. We have the paperwork right over here." "Great!", Alice replies.
And with that, Alice gets out her pen and Bob gets the contract. "Don't worry", he says, "you can take your crypto-assets back anytime you like - just subject to our cancellation policy. Our annual management fees are also super low and we don't adjust them often".

How many holes have to exist for your funds to get stolen?
Just one.

Why are we taking a powerful offline multi-sig setup, widely used globally in hundreds of different/lacking regulatory environments with 0 breaches to date, and circumventing it by a demonstrably weak third party layer? And paying a great expense to do so?
If you go through the list of breaches in the past 2 years to highly credible organizations, you go through the list of major corporate frauds (only the ones we know about), you go through the list of all the times platforms have lost funds, you go through the list of times and ways that people have lost their crypto from identity theft, hot wallet exploits, extortion, etc... and then you go through this custodian with a fine-tooth comb and truly believe they have value to add far beyond what you could, sticking your funds in a wallet (or set of wallets) they control exclusively is the absolute worst possible way to take advantage of that security.

The best way to add security for crypto-assets is to make a stronger multi-sig. With one custodian, what you are doing is giving them your cryptocurrency and hoping they're honest, competent, and flawlessly secure. It's no different than storing it on a really secure exchange. Maybe the insurance will cover you. Didn't work for Bitpay in 2015. Didn't work for Yapizon in 2017. Insurance has never paid a claim in the entire history of cryptocurrency. But maybe you'll get lucky. Maybe your exact scenario will buck the trend and be what they're willing to cover. After the large deductible and hopefully without a long and expensive court battle.

And you want to advertise this increase in risk, the lapse of judgement, an accident waiting to happen, as though it's some kind of benefit to customers ("Free institutional-grade storage for your digital assets.")? And then some people are writing to the OSC that custodians should be mandatory for all funds on every exchange platform? That this somehow will make Canadians as a whole more secure or better protected compared with standard air-gapped multi-sig? On what planet?

Most of the problems in Canada stemmed from one thing - a lack of transparency. If Canadians had known what a joke Quadriga was - it wouldn't have grown to lose $400m from hard-working Canadians from coast to coast to coast. And Gerald Cotten would be in jail, not wherever he is now (at best, rotting peacefully). EZ-BTC and mister Dave Smilie would have been a tiny little scam to his friends, not a multi-million dollar fraud. Einstein would have got their act together or been shut down BEFORE losing millions and millions more in people's funds generously donated to criminals. MapleChange wouldn't have even been a thing. And maybe we'd know a little more about CoinTradeNewNote - like how much was lost in there. Almost all of the major losses with cryptocurrency exchanges involve deception with unbacked funds.
So it's great to see transparency reports from BitBuy and ShakePay where someone independently verified the backing. The only thing we don't have is:
It's not complicated to validate cryptocurrency assets. They need to exist, they need to be spendable, and they need to cover the total balances. There are plenty of credible people and firms across the country that have the capacity to reasonably perform this validation. Having more frequent checks by different, independent, parties who publish transparent reports is far more valuable than an annual check by a single "more credible/official" party who does the exact same basic checks and may or may not publish anything. Here's an example set of requirements that could be mandated:
There are ways to structure audits such that neither crypto assets nor customer information are ever put at risk, and both can still be properly validated and publicly verifiable. There are also ways to structure audits such that they are completely reasonable for small platforms and don't inhibit innovation in any way. By making the process as reasonable as possible, we can completely eliminate any reason/excuse that an honest platform would have for not being audited. That is arguable far more important than any incremental improvement we might get from mandating "the best of the best" accountants. Right now we have nothing mandated and tons of Canadians using offshore exchanges with no oversight whatsoever.

Transparency does not prove crypto assets are safe. CoinTradeNewNote, Flexcoin ($600k), and Canadian Bitcoins ($100k) are examples where crypto-assets were breached from platforms in Canada. All of them were online wallets and used no multi-sig as far as any records show. This is consistent with what we see globally - air-gapped multi-sig wallets have an impeccable record, while other schemes tend to suffer breach after breach. We don't actually know how much CoinTrader lost because there was no visibility. Rather than publishing details of what happened, the co-founder of CoinTrader silently moved on to found another platform - the "most trusted way to buy and sell crypto" - a site that has no information whatsoever (that I could find) on the storage practices and a FAQ advising that “[t]rading cryptocurrency is completely safe” and that having your own wallet is “entirely up to you! You can certainly keep cryptocurrency, or fiat, or both, on the app.” Doesn't sound like much was learned here, which is really sad to see.
It's not that complicated or unreasonable to set up a proper hardware wallet. Multi-sig can be learned in a single course. Something the equivalent complexity of a driver's license test could prevent all the cold storage exploits we've seen to date - even globally. Platform operators have a key advantage in detecting and preventing fraud - they know their customers far better than any custodian ever would. The best job that custodians can do is to find high integrity individuals and train them to form even better wallet signatories. Rather than mandating that all platforms expose themselves to arbitrary third party risks, regulations should center around ensuring that all signatories are background-checked, properly trained, and using proper procedures. We also need to make sure that signatories are empowered with rights and responsibilities to reject and report fraud. They need to know that they can safely challenge and delay a transaction - even if it turns out they made a mistake. We need to have an environment where mistakes are brought to the surface and dealt with. Not one where firms and people feel the need to hide what happened. In addition to a knowledge-based test, an auditor can privately interview each signatory to make sure they're not in coercive situations, and we should make sure they can freely and anonymously report any issues without threat of retaliation.
A proper multi-sig has each signature held by a separate person and is governed by policies and mutual decisions instead of a hierarchy. It includes at least one redundant signature. For best results, 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7.

History has demonstrated over and over again the risk of hot wallets even to highly credible organizations. Nonetheless, many platforms have hot wallets for convenience. While such losses are generally compensated by platforms without issue (for example Poloniex, Bitstamp, Bitfinex, Gatecoin, Coincheck, Bithumb, Zaif, CoinBene, Binance, Bitrue, Bitpoint, Upbit, VinDAX, and now KuCoin), the public tends to focus more on cases that didn't end well. Regardless of what systems are employed, there is always some level of risk. For that reason, most members of the public would prefer to see third party insurance.
Rather than trying to convince third party profit-seekers to provide comprehensive insurance and then relying on an expensive and slow legal system to enforce against whatever legal loopholes they manage to find each and every time something goes wrong, insurance could be run through multiple exchange operators and regulators, with the shared interest of having a reputable industry, keeping costs down, and taking care of Canadians. For example, a 4 of 7 multi-sig insurance fund held between 5 independent exchange operators and 2 regulatory bodies. All Canadian exchanges could pay premiums at a set rate based on their needed coverage, with a higher price paid for hot wallet coverage (anything not an air-gapped multi-sig cold wallet). Such a model would be much cheaper to manage, offer better coverage, and be much more reliable to payout when needed. The kind of coverage you could have under this model is unheard of. You could even create something like the CDIC to protect Canadians who get their trading accounts hacked if they can sufficiently prove the loss is legitimate. In cases of fraud, gross negligence, or insolvency, the fund can be used to pay affected users directly (utilizing the last transparent balance report in the worst case), something which private insurance would never touch. While it's recommended to have official policies for coverage, a model where members vote would fully cover edge cases. (Could be similar to the Supreme Court where justices vote based on case law.)
Such a model could fully protect all Canadians across all platforms. You can have a fiat coverage governed by legal agreements, and crypto-asset coverage governed by both multi-sig and legal agreements. It could be practical, affordable, and inclusive.

Now, we are at a crossroads. We can happily give up our freedom, our innovation, and our money. We can pay hefty expenses to auditors, lawyers, and regulators year after year (and make no mistake - this cost will grow to many millions or even billions as the industry grows - and it will be borne by all Canadians on every platform because platforms are not going to eat up these costs at a loss). We can make it nearly impossible for any new platform to enter the marketplace, forcing Canadians to use the same stagnant platforms year after year. We can centralize and consolidate the entire industry into 2 or 3 big players and have everyone else fail (possibly to heavy losses of users of those platforms). And when a flawed security model doesn't work and gets breached, we can make it even more complicated with even more people in suits making big money doing the job that blockchain was supposed to do in the first place. We can build a system which is so intertwined and dependent on big government, traditional finance, and central bankers that it's future depends entirely on that of the fiat system, of fractional banking, and of government bail-outs. If we choose this path, as history has shown us over and over again, we can not go back, save for revolution. Our children and grandchildren will still be paying the consequences of what we decided today.
Or, we can find solutions that work. We can maintain an open and innovative environment while making the adjustments we need to make to fully protect Canadian investors and cryptocurrency users, giving easy and affordable access to cryptocurrency for all Canadians on the platform of their choice, and creating an environment in which entrepreneurs and problem solvers can bring those solutions forward easily. None of the above precludes innovation in any way, or adds any unreasonable cost - and these three policies would demonstrably eliminate or resolve all 109 historic cases as studied here - that's every single case researched so far going back to 2011. It includes every loss that was studied so far not just in Canada but globally as well.
Unfortunately, finding answers is the least challenging part. Far more challenging is to get platform operators and regulators to agree on anything. My last post got no response whatsoever, and while the OSC has told me they're happy for industry feedback, I believe my opinion alone is fairly meaningless. This takes the whole community working together to solve. So please let me know your thoughts. Please take the time to upvote and share this with people. Please - let's get this solved and not leave it up to other people to do.

Facts/background/sources (skip if you like):



Thoughts?
submitted by azoundria2 to QuadrigaInitiative [link] [comments]

Daily Roundup | Tuesday, September 29th 2020

Daily briefing of $TSLA news:
Tesla (TSLA) signs lithium supply agreement with North Carolina project, sends stock up 200%
Tesla (TSLA) bull and ARK founder shows where Wall St goes wrong
Elon Musk Talks TSLA Stock, Battery Day Reactions
Blockchain Bites: DeFi Meets NFTs, TSLA Beats Bitcoin in Volatility, Uniswap Breaks $2B
TSLA: Closing a Gap Tells You What's Next
Blockchain Bites: DeFi Meets NFTs, TSLA Beats Bitcoin in Volatility, Uniswap Breaks $2B
Tesla (TSLA) Buying More Land In Austin, Texas, Says Report
Tesla Inc (TSLA) Moves Up For the 2nd Straight Day; in an Uptrend Over Past 90 Days
submitted by productism to TSLA [link] [comments]

All you need to know about Yield Farming - The rocket fuel for Defi

All you need to know about Yield Farming - The rocket fuel for Defi
Source
It’s effectively July 2017 in the world of decentralized finance (DeFi), and as in the heady days of the initial coin offering (ICO) boom, the numbers are only trending up.
According to DeFi Pulse, there is $1.9 billion in crypto assets locked in DeFi right now. According to the CoinDesk ICO Tracker, the ICO market started chugging past $1 billion in July 2017, just a few months before token sales started getting talked about on TV.
Debate juxtaposing these numbers if you like, but what no one can question is this: Crypto users are putting more and more value to work in DeFi applications, driven largely by the introduction of a whole new yield-generating pasture, Compound’s COMP governance token.
Governance tokens enable users to vote on the future of decentralized protocols, sure, but they also present fresh ways for DeFi founders to entice assets onto their platforms.
That said, it’s the crypto liquidity providers who are the stars of the present moment. They even have a meme-worthy name: yield farmers.

https://preview.redd.it/lxsvazp1g9l51.png?width=775&format=png&auto=webp&s=a36173ab679c701a5d5e0aac806c00fcc84d78c1

Where it started

Ethereum-based credit market Compound started distributing its governance token, COMP, to the protocol’s users this past June 15. Demand for the token (heightened by the way its automatic distribution was structured) kicked off the present craze and moved Compound into the leading position in DeFi.
The hot new term in crypto is “yield farming,” a shorthand for clever strategies where putting crypto temporarily at the disposal of some startup’s application earns its owner more cryptocurrency.
Another term floating about is “liquidity mining.”
The buzz around these concepts has evolved into a low rumble as more and more people get interested.
The casual crypto observer who only pops into the market when activity heats up might be starting to get faint vibes that something is happening right now. Take our word for it: Yield farming is the source of those vibes.
But if all these terms (“DeFi,” “liquidity mining,” “yield farming”) are so much Greek to you, fear not. We’re here to catch you up. We’ll get into all of them.
We’re going to go from very basic to more advanced, so feel free to skip ahead.

What are tokens?

Most CoinDesk readers probably know this, but just in case: Tokens are like the money video-game players earn while fighting monsters, money they can use to buy gear or weapons in the universe of their favorite game.
But with blockchains, tokens aren’t limited to only one massively multiplayer online money game. They can be earned in one and used in lots of others. They usually represent either ownership in something (like a piece of a Uniswap liquidity pool, which we will get into later) or access to some service. For example, in the Brave browser, ads can only be bought using basic attention token (BAT).
If tokens are worth money, then you can bank with them or at least do things that look very much like banking. Thus: decentralized finance.
Tokens proved to be the big use case for Ethereum, the second-biggest blockchain in the world. The term of art here is “ERC-20 tokens,” which refers to a software standard that allows token creators to write rules for them. Tokens can be used a few ways. Often, they are used as a form of money within a set of applications. So the idea for Kin was to create a token that web users could spend with each other at such tiny amounts that it would almost feel like they weren’t spending anything; that is, money for the internet.
Governance tokens are different. They are not like a token at a video-game arcade, as so many tokens were described in the past. They work more like certificates to serve in an ever-changing legislature in that they give holders the right to vote on changes to a protocol.
So on the platform that proved DeFi could fly, MakerDAO, holders of its governance token, MKR, vote almost every week on small changes to parameters that govern how much it costs to borrow and how much savers earn, and so on.
Read more: Why DeFi’s Billion-Dollar Milestone Matters
One thing all crypto tokens have in common, though, is they are tradable and they have a price. So, if tokens are worth money, then you can bank with them or at least do things that look very much like banking. Thus: decentralized finance.

What is DeFi?

Fair question. For folks who tuned out for a bit in 2018, we used to call this “open finance.” That construction seems to have faded, though, and “DeFi” is the new lingo.
In case that doesn’t jog your memory, DeFi is all the things that let you play with money, and the only identification you need is a crypto wallet.
On the normal web, you can’t buy a blender without giving the site owner enough data to learn your whole life history. In DeFi, you can borrow money without anyone even asking for your name.
I can explain this but nothing really brings it home like trying one of these applications. If you have an Ethereum wallet that has even $20 worth of crypto in it, go do something on one of these products. Pop over to Uniswap and buy yourself some FUN (a token for gambling apps) or WBTC (wrapped bitcoin). Go to MakerDAO and create $5 worth of DAI (a stablecoin that tends to be worth $1) out of the digital ether. Go to Compound and borrow $10 in USDC.
(Notice the very small amounts I’m suggesting. The old crypto saying “don’t put in more than you can afford to lose” goes double for DeFi. This stuff is uber-complex and a lot can go wrong. These may be “savings” products but they’re not for your retirement savings.)
Immature and experimental though it may be, the technology’s implications are staggering. On the normal web, you can’t buy a blender without giving the site owner enough data to learn your whole life history. In DeFi, you can borrow money without anyone even asking for your name.
DeFi applications don’t worry about trusting you because they have the collateral you put up to back your debt (on Compound, for instance, a $10 debt will require around $20 in collateral).
Read more: There Are More DAI on Compound Now Than There Are DAI in the World
If you do take this advice and try something, note that you can swap all these things back as soon as you’ve taken them out. Open the loan and close it 10 minutes later. It’s fine. Fair warning: It might cost you a tiny bit in fees, and the cost of using Ethereum itself right now is much higher than usual, in part due to this fresh new activity. But it’s nothing that should ruin a crypto user.
So what’s the point of borrowing for people who already have the money? Most people do it for some kind of trade. The most obvious example, to short a token (the act of profiting if its price falls). It’s also good for someone who wants to hold onto a token but still play the market.

Doesn’t running a bank take a lot of money up front?

It does, and in DeFi that money is largely provided by strangers on the internet. That’s why the startups behind these decentralized banking applications come up with clever ways to attract HODLers with idle assets.
Liquidity is the chief concern of all these different products. That is: How much money do they have locked in their smart contracts?
“In some types of products, the product experience gets much better if you have liquidity. Instead of borrowing from VCs or debt investors, you borrow from your users,” said Electric Capital managing partner Avichal Garg.
Let’s take Uniswap as an example. Uniswap is an “automated market maker,” or AMM (another DeFi term of art). This means Uniswap is a robot on the internet that is always willing to buy and it’s also always willing to sell any cryptocurrency for which it has a market.
On Uniswap, there is at least one market pair for almost any token on Ethereum. Behind the scenes, this means Uniswap can make it look like it is making a direct trade for any two tokens, which makes it easy for users, but it’s all built around pools of two tokens. And all these market pairs work better with bigger pools.

Why do I keep hearing about ‘pools’?

To illustrate why more money helps, let’s break down how Uniswap works.
Let’s say there was a market for USDC and DAI. These are two tokens (both stablecoins but with different mechanisms for retaining their value) that are meant to be worth $1 each all the time, and that generally tends to be true for both.
The price Uniswap shows for each token in any pooled market pair is based on the balance of each in the pool. So, simplifying this a lot for illustration’s sake, if someone were to set up a USDC/DAI pool, they should deposit equal amounts of both. In a pool with only 2 USDC and 2 DAI it would offer a price of 1 USDC for 1 DAI. But then imagine that someone put in 1 DAI and took out 1 USDC. Then the pool would have 1 USDC and 3 DAI. The pool would be very out of whack. A savvy investor could make an easy $0.50 profit by putting in 1 USDC and receiving 1.5 DAI. That’s a 50% arbitrage profit, and that’s the problem with limited liquidity.
(Incidentally, this is why Uniswap’s prices tend to be accurate, because traders watch it for small discrepancies from the wider market and trade them away for arbitrage profits very quickly.)
Read more: Uniswap V2 Launches With More Token-Swap Pairs, Oracle Service, Flash Loans
However, if there were 500,000 USDC and 500,000 DAI in the pool, a trade of 1 DAI for 1 USDC would have a negligible impact on the relative price. That’s why liquidity is helpful.
You can stick your assets on Compound and earn a little yield. But that’s not very creative. Users who look for angles to maximize that yield: those are the yield farmers.
Similar effects hold across DeFi, so markets want more liquidity. Uniswap solves this by charging a tiny fee on every trade. It does this by shaving off a little bit from each trade and leaving that in the pool (so one DAI would actually trade for 0.997 USDC, after the fee, growing the overall pool by 0.003 USDC). This benefits liquidity providers because when someone puts liquidity in the pool they own a share of the pool. If there has been lots of trading in that pool, it has earned a lot of fees, and the value of each share will grow.
And this brings us back to tokens.
Liquidity added to Uniswap is represented by a token, not an account. So there’s no ledger saying, “Bob owns 0.000000678% of the DAI/USDC pool.” Bob just has a token in his wallet. And Bob doesn’t have to keep that token. He could sell it. Or use it in another product. We’ll circle back to this, but it helps to explain why people like to talk about DeFi products as “money Legos.”

So how much money do people make by putting money into these products?

It can be a lot more lucrative than putting money in a traditional bank, and that’s before startups started handing out governance tokens.
Compound is the current darling of this space, so let’s use it as an illustration. As of this writing, a person can put USDC into Compound and earn 2.72% on it. They can put tether (USDT) into it and earn 2.11%. Most U.S. bank accounts earn less than 0.1% these days, which is close enough to nothing.
However, there are some caveats. First, there’s a reason the interest rates are so much juicier: DeFi is a far riskier place to park your money. There’s no Federal Deposit Insurance Corporation (FDIC) protecting these funds. If there were a run on Compound, users could find themselves unable to withdraw their funds when they wanted.
Plus, the interest is quite variable. You don’t know what you’ll earn over the course of a year. USDC’s rate is high right now. It was low last week. Usually, it hovers somewhere in the 1% range.
Similarly, a user might get tempted by assets with more lucrative yields like USDT, which typically has a much higher interest rate than USDC. (Monday morning, the reverse was true, for unclear reasons; this is crypto, remember.) The trade-off here is USDT’s transparency about the real-world dollars it’s supposed to hold in a real-world bank is not nearly up to par with USDC’s. A difference in interest rates is often the market’s way of telling you the one instrument is viewed as dicier than another.
Users making big bets on these products turn to companies Opyn and Nexus Mutual to insure their positions because there’s no government protections in this nascent space – more on the ample risks later on.
So users can stick their assets in Compound or Uniswap and earn a little yield. But that’s not very creative. Users who look for angles to maximize that yield: those are the yield farmers.

OK, I already knew all of that. What is yield farming?

Broadly, yield farming is any effort to put crypto assets to work and generate the most returns possible on those assets.
At the simplest level, a yield farmer might move assets around within Compound, constantly chasing whichever pool is offering the best APY from week to week. This might mean moving into riskier pools from time to time, but a yield farmer can handle risk.
“Farming opens up new price arbs [arbitrage] that can spill over to other protocols whose tokens are in the pool,” said Maya Zehavi, a blockchain consultant.
Because these positions are tokenized, though, they can go further.
This was a brand-new kind of yield on a deposit. In fact, it was a way to earn a yield on a loan. Who has ever heard of a borrower earning a return on a debt from their lender?
In a simple example, a yield farmer might put 100,000 USDT into Compound. They will get a token back for that stake, called cUSDT. Let’s say they get 100,000 cUSDT back (the formula on Compound is crazy so it’s not 1:1 like that but it doesn’t matter for our purposes here).
They can then take that cUSDT and put it into a liquidity pool that takes cUSDT on Balancer, an AMM that allows users to set up self-rebalancing crypto index funds. In normal times, this could earn a small amount more in transaction fees. This is the basic idea of yield farming. The user looks for edge cases in the system to eke out as much yield as they can across as many products as it will work on.
Right now, however, things are not normal, and they probably won’t be for a while.

Why is yield farming so hot right now?

Because of liquidity mining. Liquidity mining supercharges yield farming.
Liquidity mining is when a yield farmer gets a new token as well as the usual return (that’s the “mining” part) in exchange for the farmer’s liquidity.
“The idea is that stimulating usage of the platform increases the value of the token, thereby creating a positive usage loop to attract users,” said Richard Ma of smart-contract auditor Quantstamp.
The yield farming examples above are only farming yield off the normal operations of different platforms. Supply liquidity to Compound or Uniswap and get a little cut of the business that runs over the protocols – very vanilla.
But Compound announced earlier this year it wanted to truly decentralize the product and it wanted to give a good amount of ownership to the people who made it popular by using it. That ownership would take the form of the COMP token.
Lest this sound too altruistic, keep in mind that the people who created it (the team and the investors) owned more than half of the equity. By giving away a healthy proportion to users, that was very likely to make it a much more popular place for lending. In turn, that would make everyone’s stake worth much more.
So, Compound announced this four-year period where the protocol would give out COMP tokens to users, a fixed amount every day until it was gone. These COMP tokens control the protocol, just as shareholders ultimately control publicly traded companies.
Every day, the Compound protocol looks at everyone who had lent money to the application and who had borrowed from it and gives them COMP proportional to their share of the day’s total business.
The results were very surprising, even to Compound’s biggest promoters.
COMP’s value will likely go down, and that’s why some investors are rushing to earn as much of it as they can right now.
This was a brand-new kind of yield on a deposit into Compound. In fact, it was a way to earn a yield on a loan, as well, which is very weird: Who has ever heard of a borrower earning a return on a debt from their lender?
COMP’s value has consistently been well over $200 since it started distributing on June 15. We did the math elsewhere but long story short: investors with fairly deep pockets can make a strong gain maximizing their daily returns in COMP. It is, in a way, free money.
It’s possible to lend to Compound, borrow from it, deposit what you borrowed and so on. This can be done multiple times and DeFi startup Instadapp even built a tool to make it as capital-efficient as possible.
“Yield farmers are extremely creative. They find ways to ‘stack’ yields and even earn multiple governance tokens at once,” said Spencer Noon of DTC Capital.
COMP’s value spike is a temporary situation. The COMP distribution will only last four years and then there won’t be any more. Further, most people agree that the high price now is driven by the low float (that is, how much COMP is actually free to trade on the market – it will never be this low again). So the value will probably gradually go down, and that’s why savvy investors are trying to earn as much as they can now.
Appealing to the speculative instincts of diehard crypto traders has proven to be a great way to increase liquidity on Compound. This fattens some pockets but also improves the user experience for all kinds of Compound users, including those who would use it whether they were going to earn COMP or not.
As usual in crypto, when entrepreneurs see something successful, they imitate it. Balancer was the next protocol to start distributing a governance token, BAL, to liquidity providers. Flash loan provider bZx has announced a plan. Ren, Curve and Synthetix also teamed up to promote a liquidity pool on Curve.
It is a fair bet many of the more well-known DeFi projects will announce some kind of coin that can be mined by providing liquidity.
The case to watch here is Uniswap versus Balancer. Balancer can do the same thing Uniswap does, but most users who want to do a quick token trade through their wallet use Uniswap. It will be interesting to see if Balancer’s BAL token convinces Uniswap’s liquidity providers to defect.
So far, though, more liquidity has gone into Uniswap since the BAL announcement, according to its data site. That said, even more has gone into Balancer.

Did liquidity mining start with COMP?

No, but it was the most-used protocol with the most carefully designed liquidity mining scheme.
This point is debated but the origins of liquidity mining probably date back to Fcoin, a Chinese exchange that created a token in 2018 that rewarded people for making trades. You won’t believe what happened next! Just kidding, you will: People just started running bots to do pointless trades with themselves to earn the token.
Similarly, EOS is a blockchain where transactions are basically free, but since nothing is really free the absence of friction was an invitation for spam. Some malicious hacker who didn’t like EOS created a token called EIDOS on the network in late 2019. It rewarded people for tons of pointless transactions and somehow got an exchange listing.
These initiatives illustrated how quickly crypto users respond to incentives.
Read more: Compound Changes COMP Distribution Rules Following ‘Yield Farming’ Frenzy
Fcoin aside, liquidity mining as we now know it first showed up on Ethereum when the marketplace for synthetic tokens, Synthetix, announced in July 2019 an award in its SNX token for users who helped add liquidity to the sETH/ETH pool on Uniswap. By October, that was one of Uniswap’s biggest pools.
When Compound Labs, the company that launched the Compound protocol, decided to create COMP, the governance token, the firm took months designing just what kind of behavior it wanted and how to incentivize it. Even still, Compound Labs was surprised by the response. It led to unintended consequences such as crowding into a previously unpopular market (lending and borrowing BAT) in order to mine as much COMP as possible.
Just last week, 115 different COMP wallet addresses – senators in Compound’s ever-changing legislature – voted to change the distribution mechanism in hopes of spreading liquidity out across the markets again.

Is there DeFi for bitcoin?

Yes, on Ethereum.
Nothing has beaten bitcoin over time for returns, but there’s one thing bitcoin can’t do on its own: create more bitcoin.
A smart trader can get in and out of bitcoin and dollars in a way that will earn them more bitcoin, but this is tedious and risky. It takes a certain kind of person.
DeFi, however, offers ways to grow one’s bitcoin holdings – though somewhat indirectly.
A long HODLer is happy to gain fresh BTC off their counterparty’s short-term win. That’s the game.
For example, a user can create a simulated bitcoin on Ethereum using BitGo’s WBTC system. They put BTC in and get the same amount back out in freshly minted WBTC. WBTC can be traded back for BTC at any time, so it tends to be worth the same as BTC.
Then the user can take that WBTC, stake it on Compound and earn a few percent each year in yield on their BTC. Odds are, the people who borrow that WBTC are probably doing it to short BTC (that is, they will sell it immediately, buy it back when the price goes down, close the loan and keep the difference).
A long HODLer is happy to gain fresh BTC off their counterparty’s short-term win. That’s the game.

How risky is it?

Enough.
“DeFi, with the combination of an assortment of digital funds, automation of key processes, and more complex incentive structures that work across protocols – each with their own rapidly changing tech and governance practices – make for new types of security risks,” said Liz Steininger of Least Authority, a crypto security auditor. “Yet, despite these risks, the high yields are undeniably attractive to draw more users.”
We’ve seen big failures in DeFi products. MakerDAO had one so bad this year it’s called “Black Thursday.” There was also the exploit against flash loan provider bZx. These things do break and when they do money gets taken.
As this sector gets more robust, we could see token holders greenlighting more ways for investors to profit from DeFi niches.
Right now, the deal is too good for certain funds to resist, so they are moving a lot of money into these protocols to liquidity mine all the new governance tokens they can. But the funds – entities that pool the resources of typically well-to-do crypto investors – are also hedging. Nexus Mutual, a DeFi insurance provider of sorts, told CoinDesk it has maxed out its available coverage on these liquidity applications. Opyn, the trustless derivatives maker, created a way to short COMP, just in case this game comes to naught.
And weird things have arisen. For example, there’s currently more DAI on Compound than have been minted in the world. This makes sense once unpacked but it still feels dicey to everyone.
That said, distributing governance tokens might make things a lot less risky for startups, at least with regard to the money cops.
“Protocols distributing their tokens to the public, meaning that there’s a new secondary listing for SAFT tokens, [gives] plausible deniability from any security accusation,” Zehavi wrote. (The Simple Agreement for Future Tokens was a legal structure favored by many token issuers during the ICO craze.)
Whether a cryptocurrency is adequately decentralized has been a key feature of ICO settlements with the U.S. Securities and Exchange Commission (SEC).

What’s next for yield farming? (A prediction)

COMP turned out to be a bit of a surprise to the DeFi world, in technical ways and others. It has inspired a wave of new thinking.
“Other projects are working on similar things,” said Nexus Mutual founder Hugh Karp. In fact, informed sources tell CoinDesk brand-new projects will launch with these models.
We might soon see more prosaic yield farming applications. For example, forms of profit-sharing that reward certain kinds of behavior.
Imagine if COMP holders decided, for example, that the protocol needed more people to put money in and leave it there longer. The community could create a proposal that shaved off a little of each token’s yield and paid that portion out only to the tokens that were older than six months. It probably wouldn’t be much, but an investor with the right time horizon and risk profile might take it into consideration before making a withdrawal.
(There are precedents for this in traditional finance: A 10-year Treasury bond normally yields more than a one-month T-bill even though they’re both backed by the full faith and credit of Uncle Sam, a 12-month certificate of deposit pays higher interest than a checking account at the same bank, and so on.)
As this sector gets more robust, its architects will come up with ever more robust ways to optimize liquidity incentives in increasingly refined ways. We could see token holders greenlighting more ways for investors to profit from DeFi niches.
Questions abound for this nascent industry: What will MakerDAO do to restore its spot as the king of DeFi? Will Uniswap join the liquidity mining trend? Will anyone stick all these governance tokens into a decentralized autonomous organization (DAO)? Or would that be a yield farmers co-op?
Whatever happens, crypto’s yield farmers will keep moving fast. Some fresh fields may open and some may soon bear much less luscious fruit.
But that’s the nice thing about farming in DeFi: It is very easy to switch fields.
submitted by pascalbernoulli to Yield_Farming [link] [comments]

Weekly Update: 2gether has 40k users, $BOMB on Uniswap, Ghost data service, Constellation State of the Union…– 5 Jun - 11 Jun'20

Weekly Update: 2gether has 40k users, $BOMB on Uniswap, Ghost data service, Constellation State of the Union…– 5 Jun - 11 Jun'20
Hey everyone! This is Part IV of VI from our May-June update catchup series (5 Jun - 11 Jun'20):

Yosma's Cheerful Cassowary beat Eva's Bright Beetle in a quick finale to win this week's Parena which had a massive $PAR pot thanks to a generous donation from Tony. Gamer Boy’s “Random Gk” and “Renewal from January” quizzes in Tiproom were fun as always. Plus, there were 10k $PAR in prizes. Cool! Charlotte’s “Mega Trivia” got everyone scratching their heads. CoD Mobile gamers were in for an epic time this week with Tavo hosting a tournament with a 3k $PAR pot in the Parachute War Zone. Two-for-Tuesday slid into the "rap, reggae and reggaeton" mode this week. Click here to listen to the playlist. Thanks Sebastian for setting it up! If you have been around for a while, you’ll know that Clinton’s charity, For Living Independence, does some amazing work. So the next time you shop on Amazon, don’t forget to show some love though AmazonSmile.
Cap and crew made their voices heard in NYC this week in solidarity with George Floyd
Congratulations to 2gether for crossing the 40k user mark this week. A new way for account top ups was introduced as well. This week’s CEO email covers news on the latest UX and the 2GT token. Youtuber Funontheride featured the email in his video. Filippo Angeloni covered the latest updates in his newest video as well. Founder Savador Casquero wrote about crypto staking in an Investing.com article. MakerDAO covered the 2gether card in its blog post on crypto debit cards. Following the XIO dApp update from last week, Citizens brainstormed about the UI this week. Citizens also talked about some of their contrarian beliefs in crypto. Bomb community started a Uniswap rewards program. Voyager raised USD 2.1M through a private placement from investors such as Streamlined Ventures, Susquehanna, Market Rebellion etc. Their stock has seen some enormous growth this year too. CEO Stephen Ehrlich shared his thoughts on the crypto market in a recent Bloomberg article. The team also took inputs from the community on which crypto to list next. John McAfee announced a Ghost cell phone data service to be released in September. Check out how the eSIM will work from the sneak peek video. The list of supported phones is mentioned here. And hope you had good fun in ParJar Gaming while winning some cool $ESH. A new set of upgrades were pushed to the Fantom Wallet. For the latest technical update on the project, click here. This week, I also wrote a Hackernoon article (with my co-author Rohit) exploring projects which had unique variations to Proof-of-Stake for their chain consensus. Among the projects featured were Fantom, COTI and Harmony. Jeff from Uptrennd will be speaking at the LA Blockchain Summit in October this year. The winners of the Blockchain Awards were announced. The newest Opacity release allows expired accounts to be revived within 2 months of expiry.
Fantom, Harmony and COTI take up a tiny but growing slice in the global staking pie
Catch up on the latest District0x weekly update and dev update from here and here respectively. The Q1 2020 report was released as well. The project is still sitting on a healthy crypto asset base of USD 4M+. Hydro team shared a guide to choosing a prepaid debit card program manager. Their PaaS report was also covered by Finovate this week. A new research page for featuring all of Hydro’s fintech research material was released. The successful applicants of the Project Hydro Decentralization Ambassador Program (which started in May) were voted upon this week and 7 DAs were elected. Silent Notary, Ubikiri and IDL integrations were completed this week with Silent Notary now appearing in Applications section of Ubikiri. A roundup of the latest updates was published as well. Sentivate founder Thomas Marchi sat down for an interview with MineYourBiz Monday’s NrdGrl007. Mycro announced that Chaia.io will be hosting a campaign on the Mycro Hunter App soon. SelfKey’s Data Breach compendium was updated this week. And if you’re a Product Designer looking for remote work, don’t forget to check out this opening at SelfKey. What next for Constellation? Watch the Constellation Network State of The Union to find out. Their educational group Startdust Collective made a brand video and a high level explainer article on the HyperGraph Transport Protocol. Pynk is thinking about doing a global crowdfunding campaign as opposed to one that is restricted to certain countries only. In light of this, the Pynk Crowd Wisdom was put to work to find out the best way to go about this.
Results of the Project Hydro DA Elections
Wibson’s latest app update was covered by Cointelegraph and Europe World News. Click here to catch up on this week’s detailed work thread from the Harmony project. A recent Harmony ecosystem is the SmartStake dashboard to check staking stats. Sprout Wallet now supports core utilities of HRC20 tokens. The team sat down for an AMA with Binance India and KuCoin this week. Next week they will be doing another AMA with the larger Binance community. Some insights about the Harmony grants were shared in this week’s community call. Read up on Intellishare founder Raymond Xiong’s thoughts on DAOs which he shared as part of a speaker panel at the 2020 Digital Innovation Project Exchange Conference. The team also published a post on how they aim to solve the DeFi congestion. The TestNet is expected to arrive soon as well. After the latest livestream of DI-RECT’s concert which saw ~10k attendees, GET Protocol announced that they will be facilitating tickets to the follow-up show as well. A recap of the COTI journey was published to mark the one-year anniversary of the project and the occasion was celebrated with a fun trivia. DoYourTip community voted to have liquidity rewards for pooling $DYT on Uniswap.

And with that, it’s a wrap! See you again with another update. Ciao!
submitted by abhijoysarkar to ParachuteToken [link] [comments]

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

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



By signing up, you may receive emails concerning CoinDesk products and you agree to our terms & conditions and privacy policSTER ON THE SITE
We need all users to enroll on our platform to access the Bitcoin Trader platform. The sign up method is easy and solely takes a couple of minutes. You'll be able to forever contact our customer service team if you wish helpour Bitcoin Trader account for our trading robot to position trades on your behalf. We tend to need all users to possess a minimum of $250 in their account before accessing our web trader platform. This quantity is enough to require positions price lots of thousands of dollars when using leverage.

https://preview.redd.it/e63kae9rz9j51.png?width=3116&format=png&auto=webp&s=eeb8869dbccb0fca7c64d3c91f83cebcdb446e84
You do not would like any expertise to trade with the Bitcoin Trader app. We tend to are ninety nine.99percent automatic, that means that live trading involves terribly little manual input. Moreover, we tend to offer comprehensive guides and tutorials to help users set up a live trading account.
ognized by the US Trading Association as the foremost profitable crypto robot in 20twenty. Whereas results rely on market conditions, a number of our traders have seen profits of more than four
What is the minimum deposit withBitcoin freedom
You'll be able to trade with us by depositing just $250. The additional you deposit, the more earning potential you have in a very single day. However, we have a tendency to encourage our users to begi
We have a tendency to are tested and verified by prime trading review sites. Our trading platform is cutting-edge. Moreover, we have a tendency to operate in collaboration with highly reputable brokers. We have a tendency to work absolutely transparently and publish all the data that users need to get started with our trading robot
The Bitcoin Trader trading platform is internet-based mostly and accessible through all major browsers on desktop and mobile. You can also install an HTML5 version of our net-trader on any mobile device. We tend to are coming up with to release native apps for Android and iOS by the top of the year.
Bitcoin Trader is a trading robot powered by cutting-edge AI technology. We have a tendency to have a possible daily return on investment of up to four hundredp.c. We have a tendency to have over five thousand reviews on TrustPilot, and at least 90percent of our reviewers are happy with our platformn
Are there hidden fees with Bitcoin Trader?
Our fees are fully transparent. You can download a listing of trading fees from the platform’s management dashboard. We have a tendency to only charge a little commission on profits earned through our trading robot
We have a tendency to settle for registrations from over a hundred thirty countries across the world. Most of our purchasers are from the UK, the US, some elements of Africa, and Asia. We have a tendency to are on the market in your country if you can access our Bitcoin Trader website while not employing a VPN.

We aim to assist normal people reap important returns from cryptocurrency trading. With us, you get exposure to over forty five Bitcoin contracts for variations (CFDs). Common crypto pairs you'll trade with us embrace BTC/USD, BTC/GBP, BTC/EUR, and BTC/XRP.

1) Register: Registering with the Bitcoin Trader app is straightforward. Scroll to the high of this page and submit the specified details through the registration kind.

We require users to verify your phone range and email, since this is often what you'll use for multi-factor authentication. Yet, our partner brokers verify the identity of all users per regulators’ understand your customer (KYC) requirements.

a pair of) eposit: You wish to deposit a minimum of $250 US to trade with the Bitcoin Trader software. We tend to depend on our partner brokers to facilitate transactions, and all of our partners are absolutely regulated by government authorities. With regulated brokers, you'll rest simple knowing that your funds are safe.
You'll fund your account through wire transfer, MoneyGram, Western Union, FasaPay, Visa, MasterCard, Neteller, WebMoney, and Skrill.


three) Trading Education and Demo: We have a tendency to are an auto-trading robot, however we have a tendency to do enable our users some level of management, especially when it comes to risk management. Consequently, our Bitcoin Trader official website encourages you to travel through our trading education section to familiarize yourself with the chance management process.
Our highly intuitive demo platform ought to additionally facilitate your observe trading with the robot before you begin trading during a live account Bitcoin Freedom

The platform needs that you just define the trading conditions for the robot and activate the live trading session button. We have a tendency to encourage you to depart the robot running throughout the day within the background. You'll be able to let it run unmonitored for up to eight hour
We tend to have recently been nominated as the most profitable robot for BTC trading in 20twenty. Moreover, we are one of the trading robots that has been extensively covered by mainstream media. Bitcoin Trader has thousands of reviews on client feedback platforms
Bitcoin Trader was one amongst the primary robots to use high-frequency trading techniques to BTC trading. The robot was founded in 2015, nearly two years before the crypto boom in 2017.
Bitcoin Trader uses AI and ML to create sense of big knowledge, which allows it to trade with high accuracy.
Our trading platform became an on-line sensation in mid-2017, and it has maintained its popularity since then. Bitcoin Trader is the simplest possibility for many beginner and experienced traders.
Bitcoin Trader allows you to earn a daily profit of up to $1,00zero by investing simply $250. That’s a potential return on investment of up to four hundredpercent.
Do celebrities recommend the Bitcoin trader software?

https://preview.redd.it/6i2yjm7sz9j51.jpg?width=1280&format=pjpg&auto=webp&s=b94d3dd01aaff2d7d4230f81176913586c729aef
We tend to are highly widespread and hence a prime target for celebrity gossip. There are viral rumours that we have a tendency to have been endorsed by Elon Musk, Richard Branson, and Jeff Bezos.

Elon Musk – The founder of SpaceX has invested in Bitcoin and expressed interest in artificial intelligence, however he has not invested employing a trading robot.
Richard Brandson – Branson is another celebrity alleged to own invested using Bitcoin Trader. While it's true that he loves Bitcoin and blockchain technology, he hasn’t endorsed any trading robot.
Jezz Bezos – Bezos is also a big fan of emerging technologies, however he hasn’t shown any interest in BTC trading through revolutionary robots like Bitcoin Trader.

You ought to never build an investment decision based mostly on whether or not a star has endorsed or invested in it. Bitcoin Trader has been tested and licensed by specialists.

The verdict about Bitcoin Trader
We tend to are a prime-rated crypto trading robot with nice reviews on sites like TrustPilot and ForexPeaceArmy. Moreover, we have been recognized as legit and profitable by authoritative bodies like the US Trading Association.

We have a tendency to are always striving to offer the most effective to our users by regularly improving our trading platform. Our team of experts analyzes feedback from users to work out what features will create a a lot of seamless trading experience. We tend to operate in complete transparency, having partnered with some of the world’s most reputable brokers.

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

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

https://preview.redd.it/4vpws3gtz9j51.jpg?width=1280&format=pjpg&auto=webp&s=179af0fcc33f85322d48b6be65fce2e4442c6cd6
Bitcoin is created by blockchain technology. Blockchain is the sole technology which will either make it or break it. There are many computers which are used to keep up a permanent record of each bitcoin transactions with the help of cryptographic technique. In this approach, it becomes a lot of valuable together with the tracking of the payment. At the same time, there's no method of tracking the cash

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

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

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

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


BITCOINADOPTIONABOUT USMEET THE TEAMCAREERADVERTISE WITH USCONTACT USTERMS AND CONDITIONSPRIVACY POLICYPARTNERS
Disclaimer: AMBCrypto US and UK Market's content is informational in nature and is not meant to be investment advice. Buying, trading or selling crypto-currencies ought to be considered a high-risk investment and every reader is advised to do their due diligence before making any decisions.
People, businesses, and developers: get the support you would like with our straightforward

Browse the FAQ'sn news, CoinDesk is a media outlet that strives for the very best journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Sign up with Bitcoin Trader nowadays to start out earning potentially thousands of greenbacks in profits daily from an initial investment of just $250. We tend to are a high-rated automated trading robot that's accessible and easy for all to use. By trading with Bitcoin Trader, you'll start generating a lot of investment income than ever beforeBitcoin Freedom

“After simply some months trading with Bitcoin Trader, I’ve made a lot of than $ten,00zero and finally understand what it’s like to measure the dream. I’m saving up my profits to quit my job and spend a year traveling.”

“I’ve been a member of Bitcoin Trader for only 47 days. But my life has already modified! Not solely have I created my 1st $1,000, however I’ve also met a number of the most incredible folks in the process. Thanks, Bitcoin Trader!”

“I used to speculate on my own, but now that I’ve used Bitcoin Trader I would never return to my recent broker. Bitcoin Trader takes manner less work and that i’ve already created thousands of greenbacks in profits in simply a few months.
“Two weeks ago, I got laid off. With no choices left, I thought my life was over. Now I’m making a lot of cash than I made at my job every and each day. Thanks, Bitcoin Trader!”

With the Bitcoin Trader software, you can probably build up to $one,500 daily from a deposit of $250. We tend to are powered by artificial intelligence technology to confirm that you just get a win rate of more than 98p.c under the right market conditions. The US Trading Association has nominated our Bitcoin Trader as the most profitable crypto trading robot on the market.
We have invested in the globe’s best trading technologies. These include the factitious intelligence subsets of natural language processing, deep learning, and machine learning. Bitcin Trader depends on these technologies to derive insights from huge data and market news.
The Bitcoin Trader app has won nearly fifteen coveted awards since launching in 2016. These include the most Profitable Robot 2020 award by the American Trading Association, the simplest Robot in Trading Technologies 2019 award, and the most Profitable Crypto Robot in 2018 Award. We have a tendency to price our customers and are contin
https://www.cryptoerapro.com/bitcoin-freedom/
submitted by cryptoerapro to u/cryptoerapro [link] [comments]

Ethereum 2.0 update is just around the corner: plans and opinions

Recently, Ethereum (ETH) has shown a rise and managed to bypass Bitcoin in terms of the price increase. This is due to the upcoming technical update, which should increase the value of both the Ethereum network and cryptocurrency.

Buterin: plans and forecasts

Vitalik Buterin claimed the Ethereum 2.0 protocol update, which will change the Ethereum consensus mechanism to Proof-of-stake (PoS), is still planned to be introduced in July.
The update, also referred to as Serenity, has been delayed several times. Initially, the launch of Ethereum 2.0 was scheduled for January 3, 2020 – the day of the 11th anniversary of Bitcoin, but the developers decided to postpone it to the middle of 2020. Later the developers said that the update would be deployed on July 30, 2020 – the day of the fifth anniversary of the launch of Ethereum.
At the Consensus: Distributed conference, the father founder of Ethereum said that the Ethereum 2.0 test network had been already launched, and the first stages of implementation began in early May 2020. Buterin also noted that many Ethereum development groups were working on scaling initiatives that would be implemented shortly after a successful release of PoS.
These include well-known methods, such as sharding, which splits the nodes of the global network into segments, so that each group of nodes has the same bandwidth as the current network of Ethereum. Buterin additionally mentioned new scaling solutions that are currently being tested.
One of them is the Optimistic Rollup second-stage solution, which “theoretically may be scaled to more than 1,000 transactions per second” even inside the current Ethereum network.

Ethereum blockchain expansion

The founder of the Ethereum ecosystem hints that the update will significantly affect the price. In one of the Reddit threads, Buterin stated the Ethereum Classic blockchain could merge with the Etherium 2.0. This would add approximately $975 million to capitalization, which would certainly have a positive effect on price increases.
The price of Ethereum shows stable growth, it reached $245 on June 24, 2020. Summary in “Technicals” for a 1-month period shows strong Ethereum BUY action. Also, the planned ETH burning mechanism will further reduce the supply of coins in the market. Accordingly, the rate of the second cryptocurrency will grow.
The increase of the ETH rate should also be facilitated by the fact that now it has become much easier for retail beginner investors to use fiat currencies to purchase cryptocurrencies.

Experts say

The forecasts of the crypto community experts contribute a lot into the opinion “Ethereum is a good investment”:
“From a developer’s perspective, Ethereum is the most famous blockchain in which most smart contracts and decentralized applications are deployed,” – said Damien Brener, founder, and CEO of OpenZeppelin.
According to the co-founder and head of Kenetic Capital, Jehan Chu, even though the update has been developed for 5 years, during this time not a single cryptocurrency was able to take the position of Ethereum.
“Ether continues to be the second-largest cryptocurrency, and its recent price spike demonstrates the long-term confidence of traders in its market position,” – Chu stated.
submitted by CoinjoyAssistant to ethinvestor [link] [comments]

IOTA funds were stolen (3.49Ti ~500k$) on 12th March 2020 after network relaunch [longread]

Hey CC comunity!
First of all, sorry for posting it a bit late I have some serious changes in my lifestyle and business due to Coronavirus situation in the world. For those who are infected I wish to get well soon and all the rest to stay safe and to stay home.
Here is my short story:On March 12th I made similar but short post regarding my stolen IOTA in the sub IOTA. First of all I met around 50% downvotes, I don’t know why but it seems that IOTA’s community don’t want to see posts regarding stolen IOTA, I got a lot of critics for using Trinity wallet instead of hardware and so on. But I see nothing strange using desktop wallet and it doesn’t matter whether it is IOTA Trinity or Bitcoin QT or Ethereum wallet unless in has strong manually typed password, VPN connection and some other security things. Or maybe IOTA’s community was afraid of unwanted bad attention during that market crash that day. So because of that experience I decided to make a post here at CC.
Some short reminder of what happened before my funds got stolen (https://status.iota.org)
Some news:https://www.coindesk.com/iota-foundation-suspends-network-probes-fund-theft-in-trinity-wallethttps://cointelegraph.com/news/iota-foundation-investigates-funds-allegedly-stolen-from-trinity-walletshttps://www.theblockcrypto.com/post/55955/iota-foundation-funds-stolen-users-of-trinity-wallet
If you don’t want to read that news here are some facts with timestamp:
February 12th 2020 - 18:55
As a precaution we ask you to keep your Trinity wallet closed for now.
February 12th 2020 - 19:20
After initial investigation we decided to turn off the Coordinator to make sure no further theft can occur until we find out the root cause of these thefts. (Lets say: “blockchain stopped”)
February 14th 2020 - 17:50
We have found the exploit.
February 15th 2020 - 00:50
After successfully identifying the attack on Trinity through a third-party integration
February 17th 2020 - 02:23
We have just released a safe version of Trinity Desktop to allow users to check their balance and transactions. This version (1.4.1) removes the vulnerability announced on 12th February 2020. (I’ve installed this particular version)
February 21st 2020 - 18:43
ACTION MAY BE REQUIRED TO PROTECT YOUR TOKENS IN TRINITY.
February 24th I left my country for some working trip
February 26th 2020 - 13:10
We are currently in the testing phase of the migration tools, once testing completes the tools will be audited by a external party. If this all goes well we are aiming to release these tools later this week.
February 29th 2020 - 19:15
The Seed Migration Tool is now available.
March 6th 2020 - 15:17
REMINDER: You have until 5PM (UTC), Saturday, 7th March to migrate your seed.
I’m still out of the country but I’m pretty sure I’m safe coz I’ve installed 1.4.1 wallet which removes the vulnerability.
March 8th 2020 - 18:15
The migration period has ended.
I got back to my country
March 10th 2020 - 16:45
We are aiming to resume value transactions around 5PM CET today.
March 10th 2020 - 18:15
The network coordinator has resumed operation. (Let’s say “blockchain restarted”)
Now my turn:
My balance by that time (https://imgur.com/EJiB6it)
March 10th
I’ve decided to send my IOTA to exchange until I buy Hardware wallet and sort it out how it worksTest transaction to exchange 5Gi:JQ9DZPGUFLBJTLDLIKQBWLUBOXJULKIQFSWKNYVFIHETSZJOTGRYEZZELE9BZFVUEBGATEITPDTXXHZVD
It took exchange 24 hours to credit it to my balance…
March 11thFirst large transaction to the exchange (~23% of my net holdings of IOTA) 1Ti9YGGTHDKARCBVEPWUYURYEAKSKUNITGCGKSCJRXBVKHLBHEXXTNAWOFNPOBGHG9IKCZRABFNBJHVWNZIZ
All over again… 24h to credit it to my balance.
March 12th
I’ve opened my Trinity wallet and found out that money were stolen 3.4TiPOUBLIDSDZSNLKYBHVDAAEGVKGZ9PGKCBKRGUKEKIUQGSEWZNBQCHLLKIAZKEYHJVGJD9GYHT9JJNY9VW
screenshot of transaction with stolen IOTA (https://imgur.com/DtXbjOs)
All performed transactions (https://imgur.com/M8Qj2jC)
Same day I’ve made first post on reddit to get some attention to the happened situation. At the same time I’ve start to search for some technical support through over official telegram groups:
iotatangle
(https://imgur.com/McmrF3L)I’ve send a message where I’ve stated that my funds were stolen after network relaunch. Got some response from user Basti he invited me to another group with general discussion.screen shot 1 (https://imgur.com/hvDuoQA)screen shot 2 (https://imgur.com/MewdNm5)
Our short dialogue continued at the general discussion group iotacafe
(https://imgur.com/e9ErcPW) Where Basti introduced me to the IOTA Foundation member Antonio Nardella (https://imgur.com/WxZRk8N)
Before I started my conversation with Antonio I decide to get some information about him. I’ve found a Medium post with some welcoming words to Antonio Nardella.
(https://imgur.com/KK4zoOv) telegram(https://imgur.com/VquNCpi) medium
Seems legit.
Of course I couldn't be 100% sure it was him but the information he asked for wasn’t really sensitive so decided to share all I knew and all I did.
(https://imgur.com/X3Ha02Q) He also mentioned a wallet integrated service MoonPay, whether I used the wallet with this service or not and it didn’t matter if I used the service it self.
I’ve informed him that I used 1.4.1 wallet which was recommended to install on February 17th 2020(https://imgur.com/iZdNcm7)
When he gathered all the necessary information regarding loss of funds he took the time for sending this information for investigation team.
After a long awaited answer I got the same day this:
“Hello, I was informed that the loss of tokens is associated to the person/team responsible for the Trinity wallet attack via a third-party dependency from Moonpay.
As suggested on https://status.iota.org/, please file a report with the local police and to cite the following case number when doing so: LKA Berlin, Center for Cybercrime, case number: 200213-1717-i00290.”(https://imgur.com/Gov1v0i)
So, reinstalling the wallet didn't help me to avoid the loss of funds.
Well if my funds are proved to be stolen then it means - yes, I’ve used the Trinity wallet between the December 17th 2019 and the February 17th 2020. And yes, I wasn’t able to make seed transition during the given period. I was out of the country starting form Feb 24th till March 8th. I can even proove it with my border passing stamps… You know I didn’t use to take 4.5Ti with me just in case I would need an urgent seed transition. Could you imagine thousands of people with their multimillion Bitcoin holdings carrying private keys everyday with them just in case they would need seed transition… The funds were stolen not by my mistake but IOTA developers/foundation/etc (lets say IOTA team) mistake.
At the end of my story I want to take your attention to the fact that I didn’t compromise my PC neither wallet nor password nor seed. All my fault was for using the desktop wallet… How can you imagine your user without using your software/services/etc… I want to publicly call IOTA team (especially mr David Sonstebo) to cover not only those which were to happen back in the Feb 2020 but all the loses which were caused by that wallet vulnerability. (https://www.coindesk.com/iota-founder-personally-refunding-hack-losses-to-safeguard-projects-remaining-reserve)
Thanks for reading and thanks for your time!
submitted by blockchainified to CryptoCurrency [link] [comments]

PayPal and Venmo May Add Cryptocurrency Support

The well-known and respected PayPal payment system and its Venmo mobile payment service are likely to provide the ability to buy and sell various tokens with their system tools. This innovation is expected in the next quarter.

What happened

CoinDesk talked to an unnamed, but in their opinion, reliable source. They said PayPal would add functions that will allow any member of the system to buy, sell, and even store cryptocurrency with. To provide the ability to conduct these operations, the payment system will cooperate with cryptocurrency exchanges. The exact list of these exchanges as well as the list of cryptocurrencies is unknown, but it can likely be Coinbase and Bitstamp.
At the end of 2018, Coinbase, the largest cryptocurrency exchange in the U.S., made available the option of fiat currencies withdrawal to a PayPal account without any fee.
Hunter Horsley, CEO at BitwiseInvest, believes the launch of cryptocurrencies support by PayPal and Venmo in the 3rd or 4th quarters of 2020 is quite real. In addition, he is optimistic and compares impressive PayPal figures with other close companies:

The historical change in PayPal's attitude towards blockchain and cryptocurrencies

In mid-August 2017, Bitcoin outperformed PayPal in market capitalization for the first time. At the beginning of 2018, PayPal CEO Dan Schulman declared that Bitcoin is not an effective way to transfer value. Therefore, PayPal does not intend to support Bitcoin as a payment tool on its site. At least until the moment of widespread distribution of cryptocurrencies. At the same time, he paid tribute to the blockchain: he did not exclude the use of distributed registry technology in a number of areas PayPal deals with: from real estate contracts to financial services.
In spring 2019, PayPal mentioned it had already tested the possibility for merchants to accept Bitcoin for payment, but so far the company is extremely wary of this and continues to study it.
It is noteworthy that the founder of PayPal Peter Thiel conducts active venture activities in the cryptocurrency sector. This refers to assistance to the Blockfolio project and the Harbor startup from the Founders Fund, where he is the main partner.
In spring 2020, the company placed the vacancy of a blockchain expert who would counteract financial crimes. Also, PayPal is searching for a blockchain developer for the company's research department and a technical director for crypto development.
Also, in spring 2020, PayPal CTO Sri Shivananda shared an opinion that for the success of cryptocurrencies, people must clearly understand their advantages. The client, he said, will be followed by business.
All the above-mentioned makes it possible to believe PayPal will start operations with cryptocurrencies by the fall or the end of the year.
submitted by CoinjoyAssistant to u/CoinjoyAssistant [link] [comments]

Ethereum 2.0 update is just around the corner: plans and opinions

Recently, Ethereum (ETH) has shown a rise and managed to bypass Bitcoin in terms of the price increase. This is due to the upcoming technical update, which should increase the value of both the Ethereum network and cryptocurrency.

Buterin: plans and forecasts

Vitalik Buterin claimed the Ethereum 2.0 protocol update, which will change the Ethereum consensus mechanism to Proof-of-stake (PoS), is still planned to be introduced in July.
The update, also referred to as Serenity, has been delayed several times. Initially, the launch of Ethereum 2.0 was scheduled for January 3, 2020 – the day of the 11th anniversary of Bitcoin, but the developers decided to postpone it to the middle of 2020. Later the developers said that the update would be deployed on July 30, 2020 – the day of the fifth anniversary of the launch of Ethereum.
At the Consensus: Distributed conference, the father founder of Ethereum said that the Ethereum 2.0 test network had been already launched, and the first stages of implementation began in early May 2020. Buterin also noted that many Ethereum development groups were working on scaling initiatives that would be implemented shortly after a successful release of PoS.
These include well-known methods, such as sharding, which splits the nodes of the global network into segments, so that each group of nodes has the same bandwidth as the current network of Ethereum. Buterin additionally mentioned new scaling solutions that are currently being tested.
One of them is the Optimistic Rollup second-stage solution, which “theoretically may be scaled to more than 1,000 transactions per second” even inside the current Ethereum network.

Ethereum blockchain expansion

The founder of the Ethereum ecosystem hints that the update will significantly affect the price. In one of the Reddit threads, Buterin stated the Ethereum Classic blockchain could merge with the Etherium 2.0. This would add approximately $975 million to capitalization, which would certainly have a positive effect on price increases.
The price of Ethereum shows stable growth, it reached $245 on June 24, 2020. Summary in “Technicals” for a 1-month period shows strong Ethereum BUY action. Also, the planned ETH burning mechanism will further reduce the supply of coins in the market. Accordingly, the rate of the second cryptocurrency will grow.
The increase of the ETH rate should also be facilitated by the fact that now it has become much easier for retail beginner investors to use fiat currencies to purchase cryptocurrencies.

Experts say

The forecasts of the crypto community experts contribute a lot into the opinion “Ethereum is a good investment”:
“From a developer’s perspective, Ethereum is the most famous blockchain in which most smart contracts and decentralized applications are deployed,” – said Damien Brener, founder, and CEO of OpenZeppelin.
According to the co-founder and head of Kenetic Capital, Jehan Chu, even though the update has been developed for 5 years, during this time not a single cryptocurrency was able to take the position of Ethereum.
“Ether continues to be the second-largest cryptocurrency, and its recent price spike demonstrates the long-term confidence of traders in its market position,” – Chu stated.
submitted by CoinjoyAssistant to u/CoinjoyAssistant [link] [comments]

Cryptomarketing in 2020: successful application of strategies from MLM and the beauty industry

Cryptomarketing in 2020: successful application of strategies from MLM and the beauty industry

Cryptomarketing in 2020: successful application of strategies from MLM and the beauty industry
Over the past decade, the crypto-industry has proven to be a unique industry with a specific audience, which requires a no less specific approach. In this regard, in 2020, the advertising activity of crypto companies is significantly different from that to which banks and various financial companies resort. Industry leaders prefer not to rely on traditional online advertising on Facebook, Instagram and YouTube. They follow a different path: they work with bloggers (opinion leaders and influencers), rely on MLM marketing referral programs and actively organize various contests and sweepstakes with generous prize pools. The CoinDesk portal claims that crypto marketing this year is strikingly reminiscent of marketing in the beauty industry, and here it is no less effective.

General concept

Michelle Fan, a blogger with a million YouTube subscribers, is using the same techniques to spread skin care life hacks and the idea of financial freedom through bitcoins. Moreover, she assures that the leaders of the crypto industry, like her, use marketing schemes from the beauty industry, even if they themselves do not know about it.
Both areas prefer to use the DTC (Direct to Customer) business scheme, independently creating and then promoting and selling goods / services, working as closely as possible with the community. Sales are built through aggregated retail platforms like Amazon, Etsy and Shopify, or even through accounts in popular social networks.
Industry leaders in developing countries often resort to the latter option, where large sites like Amazon simply don’t work or aren’t popular. For example, Michelle Haber, a bitcoin maximalist from Libya, made it clear in CoinDesk’s comment that social networks and chats are today the most effective way to distribute goods / services in crypto topics. He said that local traders in order to “educate” the audience help buy hardware wallets, selling them through groups on social networks. Buying yourself Trezor or Ledger in another way is often simply impossible.

Work with opinion leaders

Michelle Fan is not the only person from the crypto-community who notices the similarities with the beauty industry. So, Maria Paula Fernandez, who actively uses the services of the DeFi sector and is seriously interested in the topic of skin care, gave the CoinDesk portal a similar comment.
She notes that in both cases, society has become accustomed to relying on the opinion of society itself, rather than trusting the views of the world’s leading media. Therefore, in both sectors, the so-called influencers are very popular — opinion leaders and bloggers who disseminate information among their audience on YouTube, Instagram, TikTok and other social networks, receiving a reward for this.
Crypto-companies very often, like firms from the beauty industry, provide their products to opinion leaders for review and further “instruction” of their subscribers. Maria Paula Fernandez does not see anything shameful in this. Observing the experience of bloggers, subscribers begin to acquire a kind of crypto-education and disseminate the information through the word of mouth. Thus, the crypto-community grows.
The most successful bloggers over time can count on sponsorship from one or another crypto company.
For example, the podcaster Marty Bent, whose show is now funded by Unchained Capital and Square, the developer of Cash App, witnessed this scenario. The latter, by the way, in addition to Bent sponsor also podcast Joe Rogan and rapper Lil B.
Many other large companies, including the Kraken exchange, have resorted to this strategy. They are just as interested in sponsoring reputable content creators who promote products among loyal subscribers. The U.S. exchange sponsors the Reckless VR crypto start-up, founded by Udi Wertheimer for crypto-conferences in virtual reality, and the famous podcast Peter McCormack, who launched his own media brand Defiance last year. Having started his career as a hobby, McCormack turned it into a business of his life, thanks to which he earned about $1 million for 2019.
With all this, working with bloggers is a great opportunity to enter foreign markets. This is understood at Crypto.com, where they use opinion leaders to attract the Russian-speaking and Turkish-speaking community. Does this approach give a result? Judge for yourself: over the past six months, the number of startup users has doubled and currently stands at more than 2 million people.

Referral Bonuses and MLM Marketing

The development of products within the community often turns into MLM marketing strategies, which require the presence of referral bonuses and bonuses “in depth” — favorite schemes of cosmetic brands. They use a multi-level reward system for attracting partners, where you can usually get a bonus not only for personally invited, but also for “friends of friends and their friends”. Thus, opinion leaders who distribute crypto products often receive a portion of the funds that people invited by them will pay for the product / service.
The relevance and effectiveness of the trend is confirmed by the fact that these methods are not shy to use not only crypto start-ups, but also top cryptocurrency companies, widely known throughout the industry. A prime example is SatoshiLabs, a company that manufactures and distributes Trezor wallets. The head of communications, Iva Fizerova, confirmed that she is actively resorting to “affiliate marketing” with bloggers as an alternative to paying them for direct advertising.
No less vivid examples are the largest crypto exchanges Binance and Gemini, which managed to succeed not without the help of referral systems copied from the multi-level marketing campaigns Avon and Mary Kay, which they have been using for decades.
Instagram blogger Chjango Unchained has been earning good bonuses for several months running after posting a referral link to Gemini on her profile. When her subscribers register on the exchange and buy cryptocurrencies worth more than $100, she receives $10 in BTC. According to her, she is doing a good deed. The blogger wants people who are interested in her opinion on digital money to start their crypto path on Gemini, and not, for example, on Coinbase, because the latter charges “crazy commissions”.
Referral system bonuses are a typical phenomenon for many crypto companies, and successful bloggers are happy to use this. A prime example is Michael Gu, known by the pseudonym Boxmining. It has been distributing information about digital money since 2012, having gathered an audience of more than 200,000 subscribers on YouTube and more than 3,500 participants in Telegram chat during this time.
Despite the fact that the manufacturer of hardware wallets Ledger does not sponsor its activities, it places referral links in the video descriptions and collects voluntary donations from subscribers. As you might guess, he feels rather well. At the same time, he emphasized that user activity during the coronavirus pandemic is only growing, especially after YouTube began to put sticks in the wheels of the creators of crypto-content.

Gifts, contests and sweepstakes

Making a small gift is a great way to introduce an audience to a new product. In the cryptocurrency market, this has long been relevant.
Coin creators eagerly carry out airdrops and bounty campaigns, allowing the crypto community to test the new coin. A similar approach is popular in the beauty industry. Samplers of perfumes and branded magazines with smells have led many girls to buy full-fledged versions of the fragrance.
In addition to the cryptocurrency developers themselves, a similar approach is also used by cryptocompanies of a different direction, which cannot conduct airdrops due to their technical features (for example, this is true for manufacturers of hardware wallets). Therefore, they organize more classic contests and sweepstakes. For example, they play a wallet for reposting on social networks or videos published on YouTube.
It is noteworthy that cryptobrands in this area are even more active than cosmetics manufacturers. They work not only with trusted bloggers with many subscribers, but also help to become less “untwisted” users. Therefore, they periodically assist them in organizing draws in order to attract subscribers who could potentially become new customers.
Iva Fizerova from SatoshiLabs confirmed that Trezor manufacturers periodically help users attract new followers through the distribution of gifts. Moreover, this approach brings excellent results. By working with the community this way, they have managed to sell hundreds of thousands of wallets. But most importantly, a reputation of the brand has formed around the product, warmly received by the audience. And this effect is so strong that the company simply does not see the point in spending money on traditional expensive advertising.
Most importantly, despite all the problems of 2020, including the coronavirus pandemic, which seriously hit the global economy and, accordingly, people’s wallets, demand for products did not fall. This approach remains effective, while the percentage of successful conversions in traditional advertising has probably decreased. Fizerova noted that over the past three months they have recorded a steady increase in demand for goods. Moreover, they even had to solve delivery problems, if only the buyers got the desired devices in a timely manner.
A similar approach and results are observed with other manufacturers of hardware wallets. Thus, Rodolfo Novak, co-founder of Coinkite, confirmed the growth in demand for products, despite the pandemic. Working with the community is their main marketing strategy, because it really gives results. Over the past three years, they donated about 50 wallets to YouTube reviewers. Novak is proud that their “users help other users.” According to him, this approach allows you to sell products at a lower price, since the cost of goods does not include high costs for familiar marketing campaigns.

Are marketing strategies effective? More than

The cryptocurrency market relies on marketing strategies that have established themselves in the beauty industry, which in the new field are no less effective. Maximum performance is achieved with a killer combination of all three of the above methods. It’s about when the founders of cryptocompanies themselves become opinion leaders. Just look at Changpen Zhao, the head of Binance, or Justin Sun, the project manager of TRON. Both entrepreneurs are bloggers with a huge army of subscribers and are personally engaged in the promotion of their brands, regularly rewarding their audience with pleasant gifts.
It’s easy to guess why industry leaders rely mainly on this type of marketing. Advertising products in the traditional way is expensive, especially for startups, behind which there are still no attractive products with a good reputation. But more importantly, crypto products are quite complex in themselves, so they often need detailed explanations, which are difficult to implement in the framework of traditional advertising. Agree that selling a bottle of Fanta with a new taste is much easier than a hardware cryptocurrency wallet, especially since most people don’t understand what it is.
On top of that, regular advertising is complicated by the fact that media giants regularly block crypto content.
In such a situation, marketing borrowed from the beauty industry seems to be the most acceptable and most effective option. By focusing their marketing budgets on opinion leaders and working with the community, cryptocompanies achieve the desired result, even taking into account the coronavirus pandemic. The crypto community is getting bigger and stronger every day. But the best part is that this growth cannot be stopped.
Subscribe to our Telegram channel
submitted by Smart_Smell to Robopay [link] [comments]

Ethereum 2.0 update is just around the corner: plans and opinions

Recently, Ethereum (ETH) has shown a rise and managed to bypass Bitcoin in terms of the price increase. This is due to the upcoming technical update, which should increase the value of both the Ethereum network and cryptocurrency.

Buterin: plans and forecasts

Vitalik Buterin claimed the Ethereum 2.0 protocol update, which will change the Ethereum consensus mechanism to Proof-of-stake (PoS), is still planned to be introduced in July.
The update, also referred to as Serenity, has been delayed several times. Initially, the launch of Ethereum 2.0 was scheduled for January 3, 2020 – the day of the 11th anniversary of Bitcoin, but the developers decided to postpone it to the middle of 2020. Later the developers said that the update would be deployed on July 30, 2020 – the day of the fifth anniversary of the launch of Ethereum.
At the Consensus: Distributed conference, the father founder of Ethereum said that the Ethereum 2.0 test network had been already launched, and the first stages of implementation began in early May 2020. Buterin also noted that many Ethereum development groups were working on scaling initiatives that would be implemented shortly after a successful release of PoS.
These include well-known methods, such as sharding, which splits the nodes of the global network into segments, so that each group of nodes has the same bandwidth as the current network of Ethereum. Buterin additionally mentioned new scaling solutions that are currently being tested.
One of them is the Optimistic Rollup second-stage solution, which “theoretically may be scaled to more than 1,000 transactions per second” even inside the current Ethereum network.

Ethereum blockchain expansion

The founder of the Ethereum ecosystem hints that the update will significantly affect the price. In one of the Reddit threads, Buterin stated the Ethereum Classic blockchain could merge with the Etherium 2.0. This would add approximately $975 million to capitalization, which would certainly have a positive effect on price increases.
The price of Ethereum shows stable growth, it reached $245 on June 24, 2020. Summary in “Technicals” for a 1-month period shows strong Ethereum BUY action. Also, the planned ETH burning mechanism will further reduce the supply of coins in the market. Accordingly, the rate of the second cryptocurrency will grow.
The increase of the ETH rate should also be facilitated by the fact that now it has become much easier for retail beginner investors to use fiat currencies to purchase cryptocurrencies.

Experts say

The forecasts of the crypto community experts contribute a lot into the opinion “Ethereum is a good investment”:
“From a developer’s perspective, Ethereum is the most famous blockchain in which most smart contracts and decentralized applications are deployed,” – said Damien Brener, founder, and CEO of OpenZeppelin.
According to the co-founder and head of Kenetic Capital, Jehan Chu, even though the update has been developed for 5 years, during this time not a single cryptocurrency was able to take the position of Ethereum.
“Ether continues to be the second-largest cryptocurrency, and its recent price spike demonstrates the long-term confidence of traders in its market position,” – Chu stated.
submitted by CoinjoyAssistant to ethereum [link] [comments]

Why Global Deflation May Not Be Bad News for Bitcoin

Contrary to expectations, bitcoin could see a positive performance during a possible bout of global deflation if it acts not just as an investment asset, but as a medium of exchange and a perceived safe haven like gold. The top cryptocurrency by market value is widely considered to be a hedge against inflation because its supply is capped at 21 million and its monetary policy is pre-programmed to cut the pace of supply expansion by 50 percent every four years. As such, one may consider any deflationary collapse as a price-bearish development for bitcoin. Talk of deflation began earlier this month after the U.S. reported massive job losses due to the coronavirus outbreak. The prospects of a deflationary collapse have strengthened with this week’s oil price crash. “The oil price rout will send a deflationary wave through the global economy,” tweeted popular macro analyst Holger Zschaepitz on Tuesday. Read more: First Mover: What the Oil Price Collapse Means for Bitcoin’s Halving Valuation Cash typically becomes king during deflation because the drop in the general price levels boosts the monetary unit’s purchasing power, or the ability to purchase goods and services. “Unlike inflation, when people try to get out of the dollar because it’s losing value, during deflation people are more comfortable with the dollar because its value is going up,” said Erick Pinos, ecosystem lead for the Americas at the public blockchain and distributed collaboration platform Ontology. The rush for cash, however, may not have a substantially negative impact on bitcoin’s price because deflation would also boost the purchasing power of the cryptocurrency. “While the price per coin may stagnate during a period of aggressive economic deflation, the inherent buying power of the currency will actually rise, possibly quite significantly,” said Brandon Mintz, CEO of the bitcoin ATM provider Bitcoin Depot. As time goes on and people become more comfortable with digital assets, the average person begins to see Bitcoin as a legitimate viable alternative to gold.** The uptick in the purchasing power will likely draw greater demand for bitcoin, as the cryptocurrency is already used as means of payment. “Hundreds of thousands of businesses, brands and merchants do accept the ‘digital gold’ as payment, and thousands more every day are realizing the benefits of diversifying their revenue stream and accepting bitcoin as payment for their goods and services,” said Derek Muhney, director of sales and marketing at Coinsource, the world’s leader in Bitcoin ATMs. Moreover, the cryptocurrency’s appeal as a medium of exchange is likely to continue strengthening with the growing prevalence of technology in consumers’ everyday lives caused by the coronavirus pandemic.
##Digital gold ##
Ever since its inception, bitcoin has been dubbed “digital gold.” Like the yellow metal, the cryptocurrency is durable, fungible, divisible, recognizable and scarce. Both assets share features that fulfill Aristotle’s call for a currency to be practical and functional. Bitcoin has actual utility as the means of payment, which gold lacks, according to Coinsource’s Muhney. “As time goes on and people become more comfortable with digital assets, the average person begins to see Bitcoin as a legitimate viable alternative to gold. Thus, it’s reasonable to assume that during a period of deflation bitcoin would perform well like gold has in the past,” said Erick Pinos, America’s ecosystem lead at the public blockchain and distributed collaboration platform Ontology. Read more: Looking for a Safe Haven Digital Asset? Try Gold Hence, gold’s performance during the previous bouts of deflation could serve as a guide for bitcoin investors. Historical data shows gold performs well during deflation, which includes a sharp rise in financial stress and increased risk of corporate defaults; highly levered companies tend to go bust during deflation because their revenues fall while their debt service payments remain the same. Of course, gold’s shine is particularly bright during periods of inflation as well. As in periods of sizable deflation, inflation brings a set of price distortions that shake-up income statements and economies. A commonly-used measure of stress is the “Ted spread” or the difference between the three-month U.S. interbank rate and the three-month T-Bill rate. Ted SpreadSource: St. Louis Fed Research“Massive spikes in the Ted spread in the 1970s were accompanied by a sharp rise in gold. The Ted spread also rose sharply in the early 1980s; in 1987 in the wake of the stock market crash and during the global financial crisis of 2007-2009 – both also periods of stronger gold prices,” according to Oxford Economics’ research note. Gold’s performance in stress periodsSource: Oxford ResearchThe real or inflation-adjusted price of gold rose an average 33 percent per annum in the 1970s, 18 percent in 1980s and 15.8 percent in 2000. Underscoring all of the scenarios is that a sudden rise in economic stress usually fuels a global dash for cash, forcing investors to sell everything from stocks to gold. However, once economic uncertainty starts settling, people again start looking for safe havens. “During the Great Recession, while gold initially declined alongside other equities, it found its footing and rallied faster than stocks recovered,” Ontology’s Pinos told CoinDesk. The Ted spread spiked as high as 4.6 following the collapse of Lehman Brothers in August 2008. Gold fell from $920 to $680 per troy ounce in the August to October period, as investors treated the yellow metal as a source of liquidity, but still ended that year with 5.5 percent gains. More importantly, it rallied by 24 percent in 2009 and went on to hit a record high above $1,900 in 2011. Read more: First Mover: Bitcoin Jumps as Fed Assets Top $6.5T and Traders Focus on Halving The yellow metal’s recent price gyrations suggest history may be repeating itself. As the Ted spread rose from 0.11 to 1.42 in the four weeks to March 27, gold fell from $1,700 to $1,450 yet is now trading near $1,725 per ounce, having hit a 7-year high of $1,747 ten days ago. Bitcoin, too, was treated as a source of liquidity last month, as evidenced from the near 40 percent drop to levels under $4,000 seen on March 12. Since then, however, the cryptocurrency has risen by nearly 85 percent to $7,500. If gold’s historical data and the recent market activity is a guide, then the path of least resistance for bitcoin appears to be on the higher side.
##Unprecedented stimulus to undermine fiat currencies ##
Both the U.S. government and the Federal Reserve have unleashed massive amounts of liquidity into the system over the past few weeks to contain the economic fallout from the coronavirus pandemic. Notably, the Fed is running an open-ended asset purchase program and its balance sheet has already risen to record highs above $6.5 trillion. Meanwhile, central banks from New Zealand to Canada have slashed rates to zero and have recently announced bond purchase programs. What’s more, the amount of fiscal stimulus announced by 22 countries in March is equivalent to 75 percent of the global gross domestic product (GDP), according to JPMorgan. However, most governments and central banks appear to have run out of ammo. Hence, if the coronavirus pandemic continues to spread or leads to corporate defaults, investors may lose trust in traditional finance and look for alternatives like bitcoin and cryptocurrencies in general. Moody’s Analytics recently warned of the heightened risk of corporate defaults in the oil and gas sector across the globe, and weakness in entertainment and leisure giving way to pressure on consumer durables. “The willingness to fight deflation should bode well for bitcoin,” said Richard Rosenblum, head of trading at GSR. Meanwhile, Ashish Singhal, CEO and founder of the cryptocurrency exchange Coinswitch.co, said, “In a deflationary scenario, the chances of negative interest rates are high, and users would want to move their existing assets into more stable assets like bitcoin to prevent loss in their asset value.” Interest rates are already set below zero across Europe and in Japan and are hovering at or near zero in other advanced countries. Further, with central banks willing to do whatever it takes to defeat deflation, the real yield or inflation-adjusted returns on bonds are likely to remain negative or meagerly positive at best. As a result, zero-yielding assets like gold and bitcoin may attract more buyers. Bank of America’s analysts noted earlier this week that the stimulus frenzy amid the coronavirus pandemic would put pressure on the currencies and send gold to $3,000 by October 2021. While bitcoin could perform well during deflation, bitcoin and cryptocurrencies have seldom tracked macro developments on a consistent basis in the past. “Blockchain-based currencies are really their own beasts,” said Bitcoin Depot CEO Brandon Mitz. DisclosureRead MoreThe leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Source: https://thedailyblockchain.news/2020/05/24/why-global-deflation-may-not-be-bad-news-for-bitcoin/
submitted by iMakeWebsites4u to daily_blockchain_news [link] [comments]

China’s Rainy Season Is Coming. This Time Bitcoin Miners Aren’t Investing

China’s Rainy Season Is Coming. This Time Bitcoin Miners Aren’t Investing

Image: Unsplash
Spring is usually a welcome time of year for bitcoin mining businesses in China. The upcoming rainy season brings excessive hydropower, making electricity cheap and mining more profitable ... all else equal.
This year, however, two key variables have changed, upending the calculus for operators of mining facilities and for miners themselves in the world’s hub for this activity.
After recovering from March’s brutal selloff, bitcoin’s price has been stagnating around $7,000. As a result, mining farms that offer hosting services are struggling to find enough customers to fill capacity.
Further, the standstill comes just before the network’s halving event, due in less than 20 days, which will put further pressure on revenues in the multibillion-dollar bitcoin mining industry.
he situation presents a conundrum for miners: whether to buy new, more powerful equipment; and if not, when to switch off older models, and when to switch them on again. The winning move will depend on how things play out after the halving, which is far from certain.
“If bitcoin’s price doesn’t go up post-halving, then who’s going to buy new equipment to fulfill this capacity?” said Huang Fangyu, co-founder of ValarHash, the company behind the mining pool 1THash, which owns facilities primarily for self-mining in Sichuan and sells cloud mining contracts.
Read more
Originally published by Wolfie Zhao Apr 23, 2020 at 04:30 UTCUpdated Apr 23, 2020 at 16:27 UTC Coindesk
submitted by kjonesatjaagnet to JAAGNet [link] [comments]

Why we won't have a long term bear market, and how to systematically pick your future investments in crypto

With so much uncertainty right now it would be a good time to take some time to go over what happened recently and how to invest moving foward. We've seen a peak bubble at around 850 billion total market cap in the first week of January, consolidated down to $750 billion and have now just experienced a 40% correction.

What's happening now and how bad will it get?

First of all you should realize that there is a January Dip that happens every year, when we see a roughly 20-30% decline around mid January. This year its been much more severe though for several additional factors that have compounded on top.
Different theories exist on why this happens (its actually the mirror opposite of the "January Effect" that happens in the US stock market), but the two major theories are:
1) Asian markets pull into fiat because of Asian New Year spending needs
2) People in the US sell in January to defer their capital gains tax liability an extra year
While this cyclic event has lead to a healthy correction in the last few years, this year we got these new factors making more fear as well:
So in essence we got a storm of scary news along with the usual cyclic downturn. Currently I don't see this as being a systematic crash like Mt.Gox was that would lead to a long term bear market because the fundamental ecosystem is still intact, and I suspect that after about a month we should consolidate around a new low. All the exchanges are still operational and liquid, and there is no breakdown in trust nor uncertainty whether you'll be able to cash out. What range the market trades in will all depend how Bitcoin does, right now we've already broken below 10K but I'm seeing a lot of support at around $8000, which is roughly where the long term MA curve settles. We don't know how bad it will get or what the future will bring, but as of right now we shouldn't be in a bear market yet.
What should you do if you recently entered the market?
If you did buy in the last few months at or near ATH, the very worst thing you can do now is sell in panic and lose your principal. You shouldn't have more money in crypto than you can afford to lose, so it shouldn't be a problem to wait. You have to realize that 30% corrections in crypto are relatively common, just last fall we had a 40% flash correction over more China fears. Unless there is a systematic breakdown like we had during Mt.Gox, the market always recovers.
The other worst thing you can do is unload into Tether as your safety net. If there is one thing that could actually cause a long term destruction of trust within the cryptocurrency investment ecosystem, its Tether having a run up on their liabilities and not having enough reserve to cover the leverage. It would not only bring down exchanges but lead to years of litigation and endless media headlines that will scare off everybody from putting fiat in. I don't know when the next Mt.Gox meltdown will occur but I can almost guarantee it will involve Tether. So stay away from it.
What should long term investors do?
For long term holders a good strategy to follow each year is to capture profit each December and swallow the capital gains taxation liability, park a reserve of fiat at Gemini (whose US dollar deposits are FDIC-insured) and simply wait till around late January to early February to re-enter the market at a discount and hold all year until next December. You can keep a small amount in core coins in order to trade around various Q1 opportunities you anticipate. Others may choose to simply do nothing and just keep holding throughout January which is also a perfectly fine strategy. The cyclical correction usually stabilizes toward late January and early February, then we see a rise in March and generally are recovered by end of April. Obviously this decision whether to sell in December to profit on the dip and pay tax liability or to just hold will depend on your individual tax situation. Do your own math sometime in November and follow suit.
Essentially revaluate your positions and trim your position sizes if you don't feel comfortable with the losses.

How to construct your portfolio going forward

Rather than seeing the correction as a disaster see it as a time to start fresh. If you have been FOMO-ing into bad cryptos and losing money now is a time to start a systematic long term approach to investing rather than gambling.
Follow a methodology for evaluating each cryptocurrency
Memes and lambo dreams are fun and all, but I know many of you are investing thousands of dollars into crypto, so its worth it to put some organized thought into it as well. I can't stress enough how important it is to try and logically contruct your investment decisions. If you follow a set methodology, a checklist and template you will be able to do relative comparisons between cryptocurrencies, to force yourself to consider the negatives and alternative scenarios and also sleep comfortably knowing you have a sound basis for your investment decisions (even if they turn out to be wrong).
There is no ideal or "correct" methodology but I can outline mine:
1) Initial information gathering and filtering
Once I identify something that looks like a good potential investment, I first go to the CoinMarketCap page for that symbol and look at the website and blockchain explorer.
  • Critically evaluate the website. This is the first pass of the bullshit detector and you can tell from a lot from just the website whether its a scam. If it uses terms like "Web 4.0" or other nonsensical buzzwords, if its unprofessional and has anonymous teams, stay away. Always look for a roadmap, compare to what was actually delivered so far. Always check the team, try to find them on LinkedIn and what they did in the past.
  • Read the whitepaper or business development plan. You should fully understand how this crypto functions and how its trying to create value. If there is no use case or if the use case does not require or benefit from a blockchain, move on. Look for red flags like massive portions of the float being assigned to the founders of the coin, vague definition of who would use the coin, anonymous teams, promises of large payouts...etc
  • Check the blockchain explorer. How is the token distribution across accounts? Are the big accounts holding or selling? Which account is likely the foundation account, which is the founders account?
  • Read the subreddit and blogs for the cryptocurrency and also evaluate the community. Try to figure out exactly what the potential use cases are and look for sceptical takes. Look at the Github repos, does it look empty or is there plenty of activity?
2) Fill out an Investment Checklist
I have a checklist of questions that I find important and as I'm researching a crypto I save little snippets in Evernote of things that are relevant to answering those questions:
  • What is the problem or transactional inefficiency the coin is trying to solve?
  • What is the Dev Team like? What is their track record? How are they funded, organized?
  • Who is their competition and how big is the market they're targeting? What is the roadmap they created?
  • What current product exists?
  • How does the token/coin actually derive value for the holder? Is there a staking mechanism or is it transactional?
  • What are the weaknesses or problems with this crypto?
3) Create some sort of consistent valuation model/framework, even if its simple
I have a background in finance so I like to do Excel modeling. For those who are interested in that, this article is a great start and also Chris Burniske has a great blog about using Quantity Theory of Money to build an equivalent of a DCF analysis for crypto.
Here is an Excel file example of OMG done using his model. You can download this and play around with it yourself, see how the formulas link and understand the logic.
Once you have a model set up the way you like in Excel you can simply alter it to account for various float oustanding schedule and market items that are unique to your crypto, and then just start plugging in different assumptions. Think about what is the true derivation of value for the coin, is it a "dividend" coin that you stake within a digital economy and collect fees or is it a currency? Use a realistic monetary velocity (around 5-10 for currency and around 1-2 for staking) and for the discount rate use at least 3x the long term return of a diversified equity fund.
The benefit is that this forces you to think about what actually makes this coin valuable to an actual user within the digital economy its participating in and force you to think about the assumptions you are making about the future. Do your assumptions make sense? What would the assumptions have to be to justify its current price? You can create different scenarios in a matrix (optimistic vs. pessimistic) based on different assumptions for risk (discount rate) and implementation (adoption rates).
If you don't understand the above thats perfectly fine, you don't need to get into full modeling or have a financial background. Even a simple model that just tries to derive a valuation through relative terms will put you above most crypto investors. Some simple valuation methods that anyone can do
  • Metcalfe's Law which states that the value of a network is proportional to the square of the number of connected users of the system (n2). So you can compare various currencies based on their market cap and square of active users or traffic.
  • Another easy one is simply looking at the total market for the industry that the coin is supposedly targeting and comparing it to the market cap of the coin. Think of the market cap not only with circulating supply like its shown on CMC but including total supply. For example the total supply for Dentacoin is 1,841,395,638,392, and when multiplied by its price in early January we get a market cap that is actually higher than the entire industry it aims to disrupt: Dentistry.
  • If its meant to be just used as just a currency: Take a look at the circulating supply and look at the amount that is in cold storage or set to be released/burned. Most cryptos are deflationary so think about how the float schedule will change over time and how this will affect price.
Once you have a model you like set up, you can compare cryptos against each other and most importantly it will require that you build a mental framework within your own mind on why somebody would want to own this coin other than to sell it to another greater fool for a higher price. Modeling out a valuation will lead you to think long term and think about the inherent value, rather than price action.
Once you go through this 3-step methodology, you'll have a pretty good confidence level for making your decision and can comfortably sit back and not panic if some temporary short term condition leads to a price decrease. This is how "smart money" does it.
Think about your portfolio allocation
You should think first in broad terms how you allocate between "safe" and "speculative" cryptos.
For new investors its best to keep a substantial portion in what would be considered largecap safe cryptos, primarily BTC, ETH, LTC. I personally consider XMR to be safe as well. A good starting point is to have between 50-70% of your portfolio in these safe cryptocurrencies. As you become more confident and informed you can move your allocation into speculative small caps.
You should also think in terms of segments and how much of your total portfolio is in each segment:
  • Core holdings - BTC, Ethereum, LTC...etc
  • Platform segment - Ethereum, NEO, Ark...etc
  • Privacy segment - Monero, Zcash, PivX..etc
  • Finance/Bank settlement segment - Ripple, Stellar...etc
  • Enterprise Blockchain solutions segment -VeChain, Walton, WABI...etc
  • Promising/Innovative Tech segment - Raiblocks, IOTA, Cardano...etc
You should also think about where we are in the cycle, as now given so much uncertaintly its probably best to stay heavily in core holdings and pick up a few coins within a segment you understand well. If you don't understand how enterprise solutions work or how the value chain is built through corporations, don't invest in the enteprise blockchain solutions segment. If you are a technie who loves the technology behind Cardano or IOTA, invest in that segment.
Think of your "circle of competence"
This is actually a term Buffet came up with, it refers to your body of knowledge that allows you to evaluate an investment. Think about what you know best and consider investing in those type of coins. If you don't know anything about how supply chains functions, how can you competently judge whether VeChain or WaltonChain will achieve adoption?
This where your portfolio allocation also comes into play. You should diversify but really shouldn't be in much more than around 12 cryptos, because you simply don't have enough competency to accurately access the risk across every segment and for every type of crypto you come across. If you had over 20 different cryptos in your portfolio you should probably think about consolidating to a few sectors you understand well.
Continually educate yourself about the technology and markets
If you aren't already doing it: Read a bit each day about cryptocurrencies. There are decent Youtubers that talk about the market side of crypto, just avoid those that hype specific coins and look for more sceptical ones like CryptoInvestor. If you don't understand how the technology works and what the benefits of a blockchain are or how POS/POW works or what a DAG is or how mining actually works, learn first. If you don't care about the technology or find reading about it tedious, you shouldn't invest in this space at all.

Summing it up

I predicted a few days ago that we would have a major correction in 2018 specifically in the altcoins that saw massive gains in Decemebeearly January, and it seems we've already had a pretty big one. I don't think we'll have a complete meltdown like some are predicting, but some more pain may be incoming.
Basically take this time to think about how you can improve your investment style and strategy. Make a commitment to value things rather than chasing FOMO, and take your time to make a decision. Long term investment will grant you much more returns as will a systematic approach.
Take care and have fun investing :)
Edit March 2018: Lol looking back I'm regretting starting the title with "Why we won't have a long term bear market" now, I was more karma whoring with that catchy title than anything. We recovered up to 11K from this post, but then crashed again hard later in February-March because of a slew of reasons from Tether subpeona to unforseen regulatory issues.
submitted by arsonbunny to CryptoCurrency [link] [comments]

The Facts About 02How Can I Buy Bitcoin? - CoinDesk ... Chatting with CoinGecko Founder - Crazy Story, Success ... How To Use Coinbase To Buy and Sell Bitcoin - Full ... Coinbase Buy Guide: How To Buy Bitcoin On Coinbase For ... Rothschilds Buy Bitcoin !, OKEx Founder Xu Held in Police ...

Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more. Based in the USA, Coinbase is available in over 30 countries worldwide. Bitcoin buy MicroStrategy, ... replacing rival co-founder Micree Zhan. CoinDesk’s Wolfie Zhou has reported Zhan was ousted from the company last October but regained control earlier this year ... Jordan Tuwiner Founder, Buy Bitcoin Worldwide. Bitcoin ATMs can be the fastest way to purchase bitcoin if you’re lucky enough to have one in your area. Here's a map to help you out. Some brokers offer instant buys with bank transfer, credit card, or debit card. 4. Exchange Rate. There is no official Bitcoin price. Use our price index to see the average price of Bitcoin across all major ... How Litecoin Cash works. Litecoin Cash was founded in December 2017 by a team with no ties to the original Litecoin project. It was first announced on February 3, 2018, in the bitcointalk forum, with the developers announcing that Litecoin Cash would hard-fork away from the Litecoin blockchain at block 1,371,111.. LCC uses bitcoin’s SHA-256 algorithm for mining purposes to create new tokens ... Zhan Ketuan, the formerly-ousted Bitmain co-founder who returned to power earlier this month, is proposing a share buyback to end the firm's internal war.

[index] [13930] [44580] [43899] [33689] [50608] [43712] [21498] [11093] [33960] [50103]

The Facts About 02How Can I Buy Bitcoin? - CoinDesk ...

I compare Bitcoin to other heavy regulated such as organic food and guns. Also to things that are down right illegal. Also to things that are down right illegal. Patrick Likes Bitcoin uploaded a ... SatoshiTango founder Matias Bari talks to CoinDesk’s Diana Aguilar about building in South America and managing economic uncertainty in Argentina's current market crisis. Is it time to buy Bitcoin now? Seasoned investor Jeff Dorman explains why now is always the right time to buy Bitcoin. He discusses a strategy of dollar cost averaging, as well as technical ... 🔵 Join Coinbase Here + get $10 of Free Bitcoin: https://www.coinbase.com/join/5907c318879035083aa43147 In today's Coinbase buy tutorial I walk you through ho... We are speaking to Bobby Ong - COO and Co-Founder of CoinGecko. CoinGecko is a monster that is growing like never before. We talk about their journey, Bitcoi...

#