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Kraken Exchange

A place to discuss the Kraken Digital Assets Exchange
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Support page for Kraken Digital Assets Exchange

Support page for Kraken Digital Assets Exchange
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Where can I download historical chart data for different cryptos (Ethereum, Bcash, etc)? /r/Bitcoin

Where can I download historical chart data for different cryptos (Ethereum, Bcash, etc)? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

[uncensored-r/Bitcoin] Where can I download historical chart data for different cryptos (Ethereum, Bcash, etc)?

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[uncensored-r/Bitcoin] Where can I download historical chart data for different cryptos (Ethereum, Bcash, etc)? /r/noncensored_bitcoin

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Quick list of the most useful data resources in crypto

Compiled by the Messari Research team:
Dune Analytics - provides a number of pre-set sector and project specific dashboards on key metrics needed to assess the health of the industry. Create custom dashboards with SQL by directly querying the Ethereum blockchain.
Nansen - On-chain analysis providing various sector and project specific dashboards. Specifically useful for tracking behavior of specific ERC-20 movements from exchanges, unique addresses and large holders.
Token Terminal - Great for comparing traditional financial metrics like revenue generated by various protocols. Useful for generating relative valuation comparisons.
DeFi Pulse - DeFi Pulse’s Total Value Locked (TVL) metric has become the de facto approximation of the size of DeFi, calculated by summing all collateral locked in a given protocol.
Etherscan - Ethereum’s tried and true block explorer. Use cases include checking the status of current on-chain transactions, looking through historical transactions, viewing top holders of a certain token, and monitoring gas fees.
CoinMetrics - Broad range of on-chain, price, volume, mining, and supply data points for almost all major blockchains.
Glassnode - Multi-purpose data provider offering an array of charts and dashboards like “whale watching” chart that shows the number of addresses holding more than 1,000 BTC.
IntotheBlock - Another on-chain/market analytics tool great for conducting due diligence. Offers unique charts that show, for example, order book market depth.
Skew - The place for derivative data across bitcoin and ethereum futures and options, useful for analyzing crypto market structure during stress tests like Black Thursday.
Messari - The core screener tools allow me to keep up with short and long term price movements. The reports we’ve compiled are also great for tracking leading crypto funds.
The charting tool is great for tracking year-to-date performance:
More on using each resource here
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Best Cryptocurrency Multi-Exchange Trading and Portfolio Management Platforms Ranking 2020

Best Cryptocurrency Multi-Exchange Trading and Portfolio Management Platforms Ranking 2020
Trade on multiple exchanges from a single platform and avoid the hassle of multiple logins, different interfaces, constant tab changing and overall keeping track of balance holdings and trades.
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With more than 300 cryptocurrency exchanges today, most traders have to manage multiple exchange accounts.
The need for more than one account usually rises because of the variety of offered crypto currency pairs, market liquidity, having to diversify the risk of being hacked, as well as the different trading tools and terms each exchange offers.
Trading and keeping track of your portfolios on multiple exchanges is time consuming, inefficient and frustrating. Having to log on different platforms, use different interfaces, keeping track of multiple portfolios and all trading related activities become increasingly difficult with each new account.
It would be simple and easy if you could connect all those exchange accounts into a single multi-exchange platform which combines all the data in real time and provides a single interface to control all remote exchange accounts.

Multi-exchange platforms

A multi-exchange platform allows the traders to connect all their exchange accounts into a single account through the user of API keys generated from the account of each exchange.
Once all accounts are connected into a single one, using the exchanges interfaces becomes obsolete. The unified account will now track and combine all portfolios and traders will be able to track prices, order statuses and other data across all exchange accounts from a single interface.
In addition, most multi-exchange platforms provide various information tools such as news aggregators, sentiment tools, arbitrage matrix and price alerts.
With regards to API keys security, these platforms do not require withdrawal or deposit permissions which limits the possibility of fraud and loss of funds.
Finally, multi-exchange platforms do not typically charge additional trading fees and do not require lengthy verification procedures.

The current top platforms

Currently there are a handful of multi-exchange platforms with a variety of services. They range from a simple crypto portfolio tracker to an advanced trading and portfolio management platform. A detailed list of all major multi-exchange platforms and their features can be found here: www.AltXpert.com
Here is an overview of the top 9 multi-exchange trading and portfolio management platforms:

1. CryptoView

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CryptoView is a multi-exchange trading and portfolio management platform equipped with a handful of useful integrations such as various cryptocurrency trading tools, portfolio analytics, a multi-source news aggregator, crypto events calendar and an outstanding multi-charting interface allowing endless customizations. It is an all-in-one solution for traders, crypto enthusiasts and professional fund managers.
CryptoView is a fully functional trading platform allowing you to trade on all major cryptocurrency exchanges from a single secured interface.
https://preview.redd.it/bx3uo5sxnfv51.jpg?width=625&format=pjpg&auto=webp&s=a6422960d15fe2ec8e2ec2c93eb7a148e34a8bb1

2. Bitsgap

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Bitsgap is an аll-in-one crypto trading platform designed to cover cross platform API trading and portfolio management with connection with most popular crypto exchanges and wallets. This multi-exchange cryptocurrency platform offers in addition to the full specter of trading tools the opportunity to use arbitrage trading on main and altcoins.
Integrated charts are powered by TradingView with all the provided drawing tools and technical indicators. Through API connection users can track and manage their entire portfolio at once.
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3. Conigy

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Coinigy is a web based multi-exchange API trading platform combining full scope of trading features such as: advanced trade orders, price alerts, market data overview, crypto news and integrated charts from TradingView. The platform offers connection to more than 25 crypto exchanges and wallets covering most of the main and altcoins.
Single portfolio management is one of the main features of this multi-exchange cryptocurrency platform. Portfolio management across multiple exchanges and wallets can be performed from one unified account.
https://preview.redd.it/na5wvaq7ofv51.jpg?width=625&format=pjpg&auto=webp&s=9a444ccbb4e3efc5664f58d80e189df34913cc57

4. Quadency

https://preview.redd.it/auhy53wbofv51.jpg?width=1622&format=pjpg&auto=webp&s=bbd62b53a0cb5b3d80b61ac714f0f905f5f0f732
Quadency gives the opportunity to trade and manage an entire portfolio across multiple exchanges and trading platforms. By connecting API keys on existing accounts in exchanges and wallets, the users can execute advanced trading orders from one interface. All features combined in this solution makes it an all-in-one crypto trading platform for main and altcoins.
https://preview.redd.it/bhzwjh2dofv51.jpg?width=625&format=pjpg&auto=webp&s=dc80bc047e3c34d3539087686543408406f475ed

5. Crypto Hopper

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Cryptohopperis a multi-exchange trading and automated trading bot platform for cryptocurrencies. It allows its users to automate trading strategies that will trade cryptocurrencies like Bitcoin, Ethereum, Ripple and any other that supported exchanges offers.
Cryptohopperis designed to make traders more efficient by allowing them to copy other traders, automatically analyze the markets, manage all exchange accounts from one place and even use advanced tools like backtesting, market-making, and arbitrage.
https://preview.redd.it/jnwxcrcnofv51.jpg?width=625&format=pjpg&auto=webp&s=db672f248d6367ffdebce1bbf8de0d87a9211e64

6. LCX Terminal

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LCX Terminal brings together real-time and full historical data of all major cryptocurrencies and trading pairs, smart automated and manual trading across all platforms, breaking news desk, social trading signals, powerful analytics and portfolio reporting — all combined in one platform. LCX Terminal cryptocurrency trading software is made for everyday traders as well as professional and institutional investors.
https://preview.redd.it/ffru2g1tofv51.jpg?width=625&format=pjpg&auto=webp&s=77b821d77b017871ffff0dc8d62408aef7a0ca31

7. Hyperlinq

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HyperLinq™ brings institutional-grade software with superior technology for digital assets and cryptocurrencies traders. Allows the users to track crypto assets on any major exchange or wallet through API connection. A simplified portfolio manager for cryptocurrencies and digital assets.
https://preview.redd.it/m3rfcdsyofv51.jpg?width=625&format=pjpg&auto=webp&s=d114c36c6d8798dfff836e8051d451f892e02936

8. Altrady

https://preview.redd.it/c7b0hn13pfv51.jpg?width=1622&format=pjpg&auto=webp&s=0b1e80867b2d01215b6cb7470aa11f3400847056
Altrady is a comprehensive cryptocurrency trading platform. The platform provides full trading information such as price chart, order book, trade history, and depth chart.
It also offers immediate price alerts, portfolio manager, break-even calculator, and customizable trading pages by allowing traders to manipulate widgets to create preferred layout in order to trade comfortably, limit ladder order, gain quick access to market tabs, and integrated market scanners.
https://preview.redd.it/tgl99pu3pfv51.jpg?width=625&format=pjpg&auto=webp&s=6ffb6436bedc39f118313988099991005ab964ae

9. Aurox

https://preview.redd.it/uy5khd87pfv51.jpg?width=1622&format=pjpg&auto=webp&s=7db7651ce4879b50bc46c9fff05f0736e98dac0c
Auroxis a trading terminal that enables traders to supercharge their returns. With its multi-exchange integrated workspaces, Aurox provides a better platform for portfolio management, leads to faster trades and higher results for cryptocurrency investors.
https://preview.redd.it/cwfamzr7pfv51.jpg?width=625&format=pjpg&auto=webp&s=5427f35780a45617bb3b2a9c2abc37492f68ec4c
submitted by altXpert to u/altXpert [link] [comments]

Bitcoin Market— Week of 09/21/2020

Bitcoin Market— Week of 09/21/2020

BTC/USD hourly chart
Last week, the Bitcoin was able to break the $10,600 resistance and stay above $10,200, thus establishing a bullish trend in the short term. The BTC price reached as high as $11,185 and then formed a sideway channel, with support near $10,800.
In order to continue with the bullish trend, the price needs to stay above the current support and break the new resistance at $11,200. Due to the low volatility in the past 2 weeks, the BTC price is not expected to reach $12,000 within this week.
Review of the week:
The CEO of Elitium published an article on Cointelegraph, expressing his views on the future of DeFi. As mentioned in the article, DeFi is the next evolution of the financial system, but there are many factors that affect the future of DeFi. For example, one is Ethereum 2.0 and its attempt to solve the scalability of Ethereum. Its success or failure will affect everything related to the Ethereum blockchain. Another factor is the response of banks and regulators to DeFi. Currently, DeFi must supervise itself as an industry. It must act in an ethical manner and develop solutions, such as insurance, to protect people. Unless we develop and meet these standards, DeFi will not be able to compete with traditional banking systems. There is also that practitioners in crypto industry should educate the public about DeFi and help them understand why this new technology can benefit people’s daily lives. In addition, DeFi alone is unlikely to be adopted on a large scale. Some people simply don’t want to deal with completely decentralized technology.
Disclaimer: The above market commentary is based on technical analysis using historical pricing data, and is for reference only. It does not serve as investment or trading advice.


https://preview.redd.it/zmek7j3r3ho51.jpg?width=260&format=pjpg&auto=webp&s=b2b622d2539e6d78480755a5598618e316db86d1
submitted by Coinviva to Bitcoin [link] [comments]

Complete Guide to CoinBase

Coinbase - The reference platform for investing in cryptocurrencies: here is the complete guide.
Coinbase is currently the most famous website or web platform for trading cryptocurrencies. This is not a classic Exchange but a real Broker that allows you to buy, sell and convert many of the main cryptocurrencies - Bitcoin and Ethereum among others - using traditional currency such as the Euro. In this complete guide to Coinbase we will try to explain all its features in detail.

Founded in 2012 by Brian Armstrong and Fred Ehrsam, it was born as a simple online Bitcoin wallet. Over time it has transformed into a cryptocurrency trading site that now reaches over 33 countries.

Being a broker, registering on the site requires all the necessary steps (KYC) to verify the user who holds the account. By signing up via the following secure link you can immediately earn 10 Dollars which will be credited to you by Coinbase.

Complete Guide to CoinBase
Coinbase as well as an intermediary for the purchase and sale of over 15 cryptocurrencies directly in Euro, also provides a real exchange (crypto exchange site) called Coinbase Pro (ex-GDax): The exchange behaves as a normal stock trading site with purchases and sales in real time with obviously much lower commissions when compared with those of classic trading platforms.

What Coinbase Pro offers.
Coinbase can receive crypto from other exchanges and specifically generates more permanent online wallets that will always remain at your disposal. To all intents and purposes, Coinbase's main task is to act as an archive for its cryptocurrencies for all those who do not want to try their hand at decentralized wallets.

The transfer between Coinbase and Coinbase Pro, for example, will be quick and free (but this does not apply to other exchanges) thus allowing all those who wish to trade between the main cryptocurrencies to be able to avoid expensive passages on other exchanges. Coinbase Pro allows you to exchange a range of cryptocurrencies with each other higher than that of its brother site but at a much lower cost. While on Coinbase the exchange between cryptocurrencies involves the payment of a maximum commission of 2%, on Coinbase Pro the rates fluctuate between 0.15 and 0.25%. Values ​​that will tend to decrease as the volumes traded increase.

The Coinbase account will also allow you to operate on Coinbase Pro. However, an additional request for user verification via Webcam may occur. All these levels of security are obviously necessary to protect customers and comply with the stringent regulations of the various countries in which the company operates.

Thanks to the guide, let's see what the interface shows us.
In this complete guide to Coinbase we also want to clarify the visual aspect. Once inside the site you will find yourself in the Dashboard or Home Page which will show from top to bottom the value of your Portfolio with its historical graph, the list of cryptocurrencies that you decide to keep under observation, a box that shows the 5 heaviest cryptocurrencies in your Portfolio (a pie chart is also available) and a second box with the latest transactions.

In the center of the page there is also the link to register with Coinbase Earn. By subscribing to the waiting list, you will have the opportunity to receive an invitation that will make you earn additional cryptocurrencies simply by following some very short video courses lasting a few minutes.

In addition to the Home Page, there is the Prices page with the listing of all the cryptocurrencies available on Coinbase and a very long list of those not available. By selecting the star on the right you can decide which ones to always keep in the foreground on the home page. Clicking on one of them will open a new screen that will offer a large amount of technical and historical information on the crypto in question as well as a fair number of constantly updated news.
Your funds are well organized.

The Portfolio page will report the amount of the balance in Euro of all the cryptocurrencies deposited on Coinbase. Here you can send and receive crypto to external wallets.
By clicking on Overview you will be sent back to the Prices page just described.
The Safe item, on the other hand, allows you to set aside cryptocurrency at a higher level of security.

Finally, a brief description of the "Make Transactions" item visible at the top right and present in almost all Coinbase pages. By clicking on it in any position you find it on the site, a small screen will open with the items "Buy, Sell, Convert". To purchase, you will first need to associate a payment method to your account. The Credit Card would be the most immediate choice due to its rapidity in crediting if it were not for the high commissions required by Coinbase. We therefore recommend that you be patient and use a normal Sepa standard bank transfer to credit the funds.

Selling your cryptocurrencies on Coinbase, depositing them in your Euro account, is simple and immediate as well as foolproof thanks to the Preview that will always be shown before confirming the transaction. This will involve the payment of a commission between 0.99 and 2.99 Dollars.
Rather high fees due to its wallet nature. For those who love trading, we obviously recommend moving to the Pro version.

The site offers a complete and comprehensive technical support page: https://support.coinbase.com/

We conclude this complete guide to Coinbase with a note on the mobile versions. There are two versions of for smartphones: a standard one called Coinbase Bitcoin Wallet and a personal one called Coinbase Wallet.
This second app allows you to transfer your cryptocurrencies from Coinbase Standard to an encrypted wallet on your smartphone (Coinbase Wallet).
The substantial difference is the following: Coinbase Standard is an online wallet and therefore subject to the remote risk of an external cyber attack while Coinbase Wallet stores the encryption key locally on the phone.

https://play.google.com/store/apps/details?id=com.coinbase.android

https://play.google.com/store/apps/details?id=org.toshi

We remind trading enthusiasts of the availability on our blog of the article dedicated to Exodus Wallet.


If you liked this article and would like to contribute with a donation:

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Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7
Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK
Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI
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By: cryptoall.it Telegram Channel: t.me/giulo75 Netbox Browser: https://netbox.global/PZn5A

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Why Ethereum Problems Make UMI the Flagship Among the New Generation Cryptocurrencies

Why Ethereum Problems Make UMI the Flagship Among the New Generation Cryptocurrencies

https://preview.redd.it/8skuypxp9lj51.jpg?width=1023&format=pjpg&auto=webp&s=ba5a38ba592428f92dc7c1943a780ff127132875
Ethereum cryptocurrency that comes second in terms of capitalization on the crypto market is traditionally seen as fast and profitable. However, over the last few weeks it's had a rough patch. Since early August, the network has had huge queues of transactions pending processing while fees have skyrocketed and surpassed the historical high.
The main issue though is that even fees of a few dollars per transfer don't help get rid of the“traffic jams”. The cause of this is numerous DeFi projects and a huge number of financial pyramids based on the Ethereum platform. Both generate excessive load on the network.
The situation is downright unpleasant, and our users might question whether the UMI network could face a similar challenge? We'd like to assure you it could not. The UMI network is by default protected against these problems — it cannot have “traffic jams”, fees or financial pyramids. But first things first.
How has the Ethereum network ground to a halt?
In its report dated August 4, Arcane Research that provides analysis within the field of cryptocurrency stated that over the previous week the daily size of transaction fees in the Ethereum network has surged up to a record high for over two and a half years. On August 3, the median value #%D0%9F%D1%80%D0%B8%D0%BC%D0%B5%D1%80_%D0%B8%D1%81%D0%BF%D0%BE%D0%BB%D1%8C%D0%B7%D0%BE%D0%B2%D0%B0%D0%BD%D0%B8%D1%8F)of the fee amounted to $0.82, with the overall amount of transaction fees totaling $2 mln. However, it only signaled the start of real problems.
Over the next week, fees continued to grow and by August 11 the median fee value almost doubled equaling $1.57. Larry Cermak, an expert at a big analytical and news-making crypto portal The Block, wrote in his August 15 tweet that over a week the total amount of transaction fees in the Ethereum network totaled $34.5 mln, having surpassed its historical high. Meanwhile, in the Bitcoin network that is seen as too expensive the fees were almost four times lower at $9 mln.
The total fee amount paid by cryptocurrency users over a week:
  • Ethereum — $34.5 mln;
  • Bitcoin — $9 mln;
  • Monero — $2,240;
  • Tezos — $1,876;
  • Cardano — $1,615;
  • XRP — $1,138;
  • BSV — $1,102;
  • Stellar — $1,059;
  • Bitcoin Cash — $1,027;
  • UMI — $0. Let's talk about it a little later.

https://preview.redd.it/z9azd9v6alj51.png?width=1600&format=png&auto=webp&s=25c365d6e14665ecda4a2b8d19b2fc57dd5cde1e
Historical Growth Chart for Ethereum Fees. Source
The existing situation shows that Ethereum is actually not as fast and profitable as commonly cited. Additionally, this could happen to almost any cryptocurrency except UMI that charges no fees whatsoever. We will tell you why.
Why have these problems emerged?
There is nothing unoriginal: the Ethereum network simply can't handle an increased load. Arcane Research analysts consider that a principal cause of this situation is the constantly increasing number of the DeFi ecosystem projects built on the Ethereum blockchain. Their number is growing all the time which causes the overload of the network. As of August 12, the total amount of funds in DeFi applications reached $4.3 billion which is 19.5% higher than that in the past week. At the time of writing this article, the amount surged to $6.21 billion. You can see the current data here. What is the most unpleasant about DeFi protocols is that a lot of them are scam projects.
Which is not the worst part though. There is also another factor that significantly slows down the Ethereum network. There are a lot of pyramid-like projects that are built on the EOS platform and use smart contracts. One of them is SmartWay Forsage, which regularly overloads the network with a large number of transactions, causes traffic jams, and, consequently, leads to increased fees (keep in mind that Ethereum miners choose transactions with a higher commission). Vitalik Buterin, the co-founder of Ethereum, revealed his disapproval of the SmartWay Forsage methodology and asked them to "leave and not pollute Ethereum ecology in the future". However, the project is slow to do this — it continues to deceive users.
This is only the tip of the iceberg of scam projects which abounds on the EOS network –– they continually emerge, work for a while, then go down as scams and are replaced with new ones. This never-ending stream of "investment projects" based on the Ponzi scheme overloads the system. This is the reason why Adam Back, a pioneer of the crypto industry and founder of the technology company Blockstream, equated Ethereum with such infamous projects as Onecoin and Bitconnect. Adam Back's solid dig at Ethereum became the subject of much debate among crypto enthusiasts.
Of course, it all doesn't mean that Ethereum is a bad cryptocurrency. On the contrary, it has a lot of advantages over other coins. But all that has happened exposes Ethereum's faults which must be eliminated. The problem is that they may not be fixable. It is far from certain that the developers will be able to get rid of all the defects as the system has huge scalability problems.
The crypto community has to admit that Ethereum, like other first-generation cryptocurrencies, has issues with capacity, fees, and scalability and is gradually becoming obsolete.
2020 is the time for young innovative cryptocurrencies such as UMI.
UMI is the flagship of new-generation cryptocurrencies.
In real fact, any cryptocurrency could face it. Each cryptocurrency charges fees which typically surge when the network is overloaded or the price is going up. Everyone will remember 2017 when in line with price growth and the network's overload Bitcoin transaction fee reached a high of around $40.
But when it comes to UMI, it works the other way round. The UMI network's advantages are high capacity, no fees, and scaling possibilities. It uses the best and fastest crypto industry solutions and excludes all inefficient methods by default. Smart optimization in combination with the Proof-of-Authority technology operating on the master node basis enables almost instant payments.
At the stage of network testing, an incredibly high capacity was achieved:
  • up to 4,369 transactions per second;
  • up to 262,140 transactions per minute;
  • up to 15,728,400 transactions per hour;
  • up to 377,481,600 transactions per day.
Ethereum processes about 20 transactions per second. It means that the UMI network can process transactions that Ethereum processes over a year in 1 to 5 days — and with no fees.
https://preview.redd.it/rwohnov3alj51.png?width=1125&format=png&auto=webp&s=4329b75c0bd8b7a22276b529f5ca433d17a0874f
The UMI network can process transactions that Ethereum processes over a year in a few days and with no fees. More details
What is more important is that less than 0.001% of the network's overall potential is used now. The UMI network has a lot of reserve capacity and can handle hundreds of thousands of times heavier load. Moreover, with scaling possibilities, UMI can keep up with the times. The UMI code ensures the safe introduction of any upgrades — the network can be easily modified and scaled with cutting edge technology solutions. In other words, traffic jams will never pose a problem for us. UMI will instantly process all transactions, with no fees. Always.
https://preview.redd.it/t0068th0alj51.png?width=544&format=png&auto=webp&s=019f46ec8c093480c4638cf098312a5a146134a8
A real-time speedometer displays the number of transactions processed by the UMI network per second. Link
Additionally, unlike Ethereum and other cryptocurrencies, the UMI's staking smart contract prevents possibilities of any pyramid schemes, meaning eliminates their negative influence. Our staking is completely safe and secured against scammers. Read more about this in our article. Any UMI staking structure could work forever. In other words, you can multiply your coins at a rate of up to 40% per month for an indefinitely long period of time.
UMI doesn't inherit the disadvantages of the first-generation cryptocurrencies. This is an innovative, carefully designed network based on state-of-the-art technologies. UMI is an ambitious step toward the future. And we're making it together right now!
Sincerely yours, UMI team
submitted by UMITop to u/UMITop [link] [comments]

How To Exchange Australian Dollar To PHP

It is not always easy to send money abroad. Use this site to convert the Australian dollar to PHP and transfer funds anywhere in the world. As it has become the demand of our customers to know how to exchange Australian dollar to PHP, we provide high-performance services to give them a facility to exchange prices between any two currencies easily. Bitcoins xchanger is one of the platforms that is giving complete security and affordable services, making it easy to exchange AUD to PHP with the most efficient converters. Get the conversion rates of any currency that you want with the recent market exchange rates.

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Where To Buy Eth To AUD

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Coinviva Bitcoin Market Weekly Report - Week of 10/08/2020

Coinviva Bitcoin Market Weekly Report - Week of 10/08/2020

Coinviva BTC-USD Hourly Chart
The Bitcoin price has been trading within a range last week. The short-term trend has become more bullish with higher lows established in the past couple of days. If the momentum starts to build up in the next day, it is possible that the price would break above the current resistance at $12,000.
The target for the next 2 weeks is $13,000, while the support level is at $11,000.
Disclaimer: The above market commentary is based on technical analysis using historical pricing data, and is for reference only. It does not serve as investment or trading advice.
Review of the week:
Crypto asset manager Grayscale Investments has publicly filed with the United States Securities and Exchange Commission (SEC) on behalf of its Ethereum Trust to become a company reporting to the commission. If this application is successful, Ethereum Trust will become the second platform to achieve the status of a digital currency investment vehicle reporting to the SEC after Grayscale Bitcoin Trust earlier in January. Grayscale hopes to attract more institutional investors into the crypto space with this filing as most of these investors are wary of making investments in instruments that are not registered with the commission. Grayscale said that over one-third of U.S investors have now shown interest in investing in Bitcoin and other crypto assets and this might be a wakeup call for financial advisors to catch up on crypto assets and facilitate the transition of new adopters in the crypto market.
submitted by Coinviva to Bitcoin [link] [comments]

Epic Cash AMA Recap with CryptoDiffer Community

CryptoDiffer team Hello, everyone! We are glad to meet here: Max Freeman (@maxfreeman4), Project Lead at Epic Cash Yoga Dude (@Yogadude), PR&Marketing at Epic Cash Xenolink (@Xenolink), Advisor at Epic Cash
Max Freeman Project Lead at Epic Cash Thanks Max, we are excited to be here!
Yoga Dude PR&Marketing at Epic Cash Hello Everyone! Thank you for having us here!
Xenolink Advisor at Epic Cash Thank you to the CryptoDiffer team and CryptoDiffer community for hosting us!
CryptoDiffer team Let`s start from the first introduction question: Q1: Can you introduce yourself to the community? What is your background and how did you join Epic Cash?
Yoga Dude PR&Marketing at Epic Cash
Hello! My background is Marketing and Business Development, I’ve been in crypto since 2011 started with Bitcoin, then Monero in 2014, Ethereum in 2015 and at some point Doge for fun and profit. I joined Epic Cash team in September 2019 handling PR and Marketing.
I saw in Epic Cash what was missing in my previous cryptos — things that were missing in Bitcoin and Monero especially.
Xenolink Advisor at Epic Cash
Hello Cryptodiffer Community, I am not an original co-founder nor am I a developer for the Epic Cash project. I am however a community member that is involved in helping scale this project to higher levels. One of the many beauties of Epic Cash is that every single member in the community has the opportunity to be part of EPIC’s team, it can be from development all the way to content producing. Epic Cash is a community driven project. The true Core Team of Epic Cash is our community. I believe a community that is the Core Team is truly powerful. EPIC Cash has one of the freshest and strongest communities I have seen in quite a while. Which is one of the reasons why I became involved in this project. Epic displayed some of the most self community produced content I have seen in a project. I’m actually a doctor of medicine but in terms of my experience in crypto, I have been involved in the industry since 2012 beginning with mining Litecoin. Since then I have been doing deep dive analysis on different projects, investing, and building a network in crypto that I will utilize to help connect and scale Epic in every way I can. To give some credit to those people in my network that have been a part of helping give Epic exposure, I would like to give a special thanks to u/Tetsugan and u/Saurabhblr. Tetsugan has been doing a lot of work for the Japanese community to penetrate the Japanese market, and Japan has already developed a growing interest in Epic. Daku Sarabh the owner and creator of Crypto Daku Robinhooders, I would like to thank him and his community for giving us one of our first large AMA’s, which he has supported our project early and given us a free AMA. Many more to thank but can’t be disclosed. Also thank you to all the Epic Community leaders, developers, and Content producers!
Max Freeman Project Lead at Epic Cash
I’m Max Freeman, which stands for “Maximum Freedom for Mankind”. I started working on the ideas that would become Epic in 2018. I fell in love with Bitcoin in 2017 but realized that it needs privacy at the base layer, fungibility, better scalability in order to go to the next level.
CryptoDiffer team
Really interesting backgrounds I must admit, pleasure to see the team that clearly has one vision of the project by being completely decentralized:)
Q2: Can you briefly describe what is Epic Cash in 3–5 sentences? What technology stands behind Epic Cash and why it’s better than the existing one?
Max Freeman Project Lead at Epic Cash
I’d like to highlight the differences between Epic and the two highest-valued privacy coin projects, Monero and Zcash. XMR has always-on privacy like Epic does, but at a cost: Its blockchain is over 20x more data intensive than Epic, which limits its possibilities for scalability. Epic’s blockchain is small and light enough to run a full node on cell phones, something that is in our product road map. ZEC by comparison can’t run on low end devices because of its zero knowledge based approach, and only 1% of transactions are fully private. Epic is simply newer, more advanced technology than prior networks thanks to Mimblewimble
We will also add more algorithms to widen the range of hardware that can participate in mining. For example, cell phones and tablets based around ARM chips. Millions of people can mine Epic that can’t mine Bitcoin, and that will help grow the network rapidly.
There are some great short videos on our YouTube channel https://www.youtube.com/channel/UCQBFfksJlM97rgrplLRwNUg/videos
that explain why we believe we have created something truly special here.
Our core architecture derives from Grin, so we are fortunate to benefit on an ongoing basis from their considerable development efforts. We are focused on making our currency truly usable and widely available, beyond a store of value and becoming a true medium of exchange.
Yoga Dude PR&Marketing at Epic Cash
Well we all have our views, but in a nutshell, we offer things that were missing in the previous cryptos. We have sound fiscal emission schedule matching Bitcoin, but we are vastly more private and faster. Our blockchain is lighter than Bitcoin or Monero and our tech is more scalable. Also, we are unique in that we are mineable with CPUs and GPUs as well as ASICs, giving the broadest population the ability to mine Epic Cash. Plus, you can’t forget FUNGIBILITY 🙂 we are big on that — since you can’t have true privacy without fungibility.
Also, please understand, we have HUGE respect to all the cryptos that came before us, we learned a lot from them, and thanks to their mistakes we evolved.
Xenolink Advisor at Epic Cash
To add on, what also makes Epic Cash unique is the ability to decentralize the mining using a tri-algo model of Random X (CPU), Progpow (GPU), and Cuckoo (ASIC) for an ability to do hybrid mining. I believe this is an issue we can see today in Bitcoin having centralized mining and the average user has a costly barrier of entry.
To follow up on this one in my opinion one of the things we adopted that we have seen success for , in example Bitcoin and Monero, is a strong community driven coin. I believe having a community driven coin will provide a more organic atmosphere especially when starting with No ICO, or Premine with a fair distribution model for everyone.
CryptoDiffer team
Q3: What are the major milestones Epic Cash has achieved so far? Maybe you can share with us some exciting plans for future weeks/months?
Yoga Dude PR&Marketing at Epic Cash
Since we went live in September of 2019, we attracted a very large community of users, miners, investors and contributors from across the world. Epic Cash is a very international project with white papers translated into over 30 languages. We are very much a community driven project; this is very evident from our content and the amount of translations in our white papers and in our social media content.
We are constantly working on improving our usability, security and privacy, as well as getting our message and philosophy out into the world to achieve mass adoption. We have a lot of exciting plans for our project, the plan is to make Epic Cash into something that is More than Money.
You can tell I am the Marketing guy since my message is less about the actual tech and more about the usability and use cases for Epic Cash, I think our Team and Community have a great mix of technical, practical, social and fiscal experiences. Since we opened our YouTube channels content for community submissions, we have seen our content translated into Spanish, French, German, Polish, Chinese, Japanese, Arabic, Russian, and other languages
Max Freeman Project Lead at Epic Cash
Our future development roadmap will be published soon and includes 4 tracks:
Usability
Mining
Core Protocol
Ecosystem Development
Core Protocol
Epic Server 2.9.0 — this release improves the difficulty adjustment and is aimed at making block emission closer to the target 60 seconds, particularly reducing the incidence of extremely short and long blocks — Status: In Development (Testing) Anticipated Release: June 2020
Epic Server 3.0.0 — this completes the rebase to Grin 3.0.0 and serves as the prerequisite to some important functional building blocks for the future of the ecosystem. Specifically, sending via Tor (which eliminates the need to open ports), proof of payment (useful for certain dex applications e.g. Bisq), and our native mobile app. Status: In Development (Testing) Anticipated Release: Fall 2020
Non-Interactive Transactions — this will enhance usability by enabling “fire and forget” send-to-address functionality that users are accustomed to from most cryptocurrencies. Status: Drawing Board Anticipated Release: n/a
Scaling Options — when blocks start becoming full, how will we increase capacity? Two obvious options are increasing the block size, as well as a Lightning Network-style Layer 2 structure. Status: Drawing Board Anticipated Release: n/a
Confidential Assets — Similar to Raven, Tari, and Beam, the ability to create independently tradable assets that ride on the Epic Blockchain. Status: Drawing Board Anticipated Release: n/a
Usability
GUI Wallet 2.0 — Restore from seed words and various usability enhancements — Status: Needs Assessment Anticipated Release: Fall 2020
Mobile App — Native mobile experience for iOS and Android. Status: In Development (Testing) Anticipated Release: Winter 2020
Telegram Integration — Anonymous payments over the Telegram network, bot functionality for groups. Status: Drawing Board Anticipated Release: n/a
Mining
RandomX on ARM — Our 4th PoW algorithm, this will enable tablets, cell phones, and low power devices such as Raspberry Pi to participate in mining. Status: Needs Assessment Anticipated Release: n/a
The economics of mining Epic are extremely compelling for countries that have free or extremely cheap electricity, since anyone with an ordinary PC can mine. Individual people around the world can simply run the miner and earn meaningful money (imagine Venezuela for example), something that has not been possible since the very early days of Bitcoin.
Ecosystem Development
Atomic Swaps — Connecting Epic to other blockchains in a trustless way, starting with ETH so that Epic can trade on DeFi infrastructure such as Uniswap, Kyber, etc. Status: Drawing Board Anticipated Release: n/a
Xenolink Advisor at Epic Cash
From the Community aspect, we have been further developing our community international reach. We have been seeing an increase in interest from South America, China, Russia, Japan, Italy, and the Philippines. We are working on targeting more countries. We truly aim to be a decentralized project that is open to everyone worldwide.
CryptoDiffer team
Great, thank you for your answers, we now can move to community questions part!
Cryptodiffer Community
You have 3 mining algorithms, the question is: how do they not compete with each other? Is there any benefit of mining on the GPU and CPU if someone is mining on the ASIC?
Max Freeman Project Lead at Epic Cash
The block selection is deterministic, so that every 100 blocks, 60% are for RandomX (CPU), 38% for ProgPow (GPU), and 2% for Cuckoo (ASIC) — the policy is flexible so that we can have as many algorithms with any percentages we want. The goal is to make the most decentralized and resilient network possible, and with that in mind we are excited to work on enabling tablets and cell phones to mine, since that opens it up to millions of people that otherwise can’t take part.
Cryptodiffer Community
To Run a project smoothly, Funding is very important, From where does the Funding/revenue come from?
Xenolink Advisor at Epic Cash
Yes, early on this was realized and in order to scale a project funds are indeed needed. Epic Cash did not start with any funding and no ICO and was organically genesis mined with no pre-mine. Epic cash is also a nonprofit community driven project similar to Monero. There is no profit-driven entity in the picture. To overcome the revenue issue Epic Cash setup a development fund tax that decreases 1% every year until 2028 when Epic Cash reaches singularity with Bitcoin emissions. Currently it is at 7.77%. This will help support the scaling of the project.
Cryptodiffer Community
Hi! In your experience working also with MONERO can you please clarify which are those identified problems that EPIC CASH aims to develop and resolve? What’s the main advantage that EPIC CASH has over MONERO? Thank you!
Yoga Dude PR&Marketing at Epic Cash
First, I must admit that I am still a huge fan and HODLer of Monero. That said:
✅ our blockchain is MUCH lighter than Monero’s
✅ our transaction processing speed is much faster
✅ our address-less blockchain is more private
✅ Epic Cash can be mined with CPU (RandomX) GPU (ProgPow) and Cuckoo, whereas Monero migrated to RandomX and currently only mineable with CPU
Cryptodiffer Community
  1. the feature ‘Cut Through’ deletes old data, how is it decided which data will be deletes, and what are the consequences of it for the platform and therefore the users?
  2. On your website I see links to download Epic wallet and mining software for Linux,Windows and MacOs, I am a user of android, is there a version for me, or does it have a release date?
Max Freeman Project Lead at Epic Cash
  1. This is one of the most exciting features of Mimblewimble, which is its extraordinary ability to compress blockchain data. In Bitcoin, the entire history of a coin must be replayed every time it is spent, and comprehensive details are permanently stored in the blockchain. Epic discards spent transaction inputs and consolidates outputs, storing neither addresses or amounts, only a tiny kernel to allow sender and receiver to prove their transaction.
  2. The Vitex mobile app is great for today, and we have a native mobile app for iOS and Android in the works as well.
Cryptodiffer Community
$EPIC Have total Supply of 21,000,000 EPIC , is there any burning plan? Or Buyback program to maintain $EPIC price in the future?
Who is Epic Biggest competitors?
And what’s makes epic better than competitors?
Xenolink Advisor at Epic Cash
We respect the older generation coins like Bitcoin. But we have learned that the supply economics of Bitcoin is very sound. Until today we can witness how the Bitcoin is being adopted institutionally and by retail. We match the 21 million BTC supply economics because it is an inelastic fixed model which makes the long-term economics very sound. To have an elastic model of burning tokens or printing tokens will not have a solid economic future. Take for example the USD which is an inflating supply. In terms of competitors we look at everyone in crypto with respect and also learn from everyone. If we had to compare to other Mimblewimble tech coins, Grin is an inelastic forever inflating supply which in the long term is not sound economics. Beam however is an inelastic model but is formed as a corporation. The fair distribution is not there because of the permanent revenue model setup for them. Epic Cash a non-profit development tax fund model for scaling purposes that will disappear by 2028’s singularity.
Cryptodiffer Community
What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?
Yoga Dude PR&Marketing at Epic Cash
Since we are a community project, we have many developers, in addition to the core team.
Our plans for Global expansion are simple — we have advocates in different regions addressing their audiences in their native languages. We are growing organically, by explaining our ideology and usability. The idea is to grow beyond needing a fiat bridge for crypto use, but to rather replace fiat with our borderless, private and fungible crypto so people can use it to get goods and services without using banks.
We are not limiting ourselves to one particular demographic — Epic Cash is a valid solution for the gamers, investors, techie and non techie people, and the unbanked.
Cryptodiffer Community
EPIC confidential coin! Did you have any problems with the regulators? And there will be no problems with listing on centralized exchanges?
Xenolink Advisor at Epic Cash
In terms of structure, we are carefully set up to minimize these concerns. Without a company or investors in the picture, and having raised no funds, there is little scope to attack in terms of securities laws. Bitcoin and Ethereum are widely acknowledged as acceptable, and we follow in their well-established footprints in that respect. Centralized exchanges already trade other privacy coins, so we don’t see this as much of an issue either. In general, decentralized p2p exchange options are more interesting than today’s centralized platforms. They are more censorship resistant, secure, and privacy-protecting. As the technology gets better, they should continue to gain market share and that’s why we’re proud to be partnered with Vitex, whose exchange and mobile app work very well.
Cryptodiffer Community
What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment?
Max Freeman Project Lead at Epic Cash
Because our blockchain is so light (only 1.16gb currently, and grows very slowly) it is naturally well suited to become a decentralized mobile money standard because people can run a full node on their phone, guaranteeing the security of their funds. Scalability in Bitcoin requires complicated and compromised workarounds such as Lightning Network and light clients, and these problems are solved in Epic.
With our forthcoming Mobile Mining app, hundreds of millions of cell phones and tablets will be able to easily join the network. People can quickly and cheaply send money to one another, fulfilling the long-envisioned promise of P2P electronic cash.
As an investor, it’s important to ask a few key questions. Bitcoin Standard tokenomics of disinflation and a fixed supply are well proven over a decade now. We follow this model exactly, with a permanently synchronized supply from 2028, and 4 emission halvings from now until then, with our first one in about two weeks. Beyond that, we can apply some simple logical tests. What is more valuable, money that can only be used in some cases (censorable Bitcoin based on a lack of fungibility) or money that can be used universally? (fungible Epic based on always-on privacy by default). Epic is also poised to be a more decentralized and therefore resilient network because of wider participation in mining. Epic is designed to be Bitcoin++ Privacy, Fungibility, Scalability
Cryptodiffer Community
Q1. What are advantages for choosing three mining algorithms RandomX+, ProgPow and CuckAToo31+ ?
Q2. Beam and Grin use MimbleWimble protocol, so what are difference for Epic? All of you will be friends for partners or competitors?
Max Freeman Project Lead at Epic Cash
RandomX and ProgPow are designed to use the entirety of a CPU / GPU’s unique processing capabilities in a way that other types of hardware don’t work as well. You can run RandomX on a GPU but it doesn’t work nearly as well as a much cheaper CPU, for example. Cuckoo is a “memory hard” algorithm that widens the range of companies that can produce the hardware.
Grin and Beam are great projects and we’ve learned a lot from them. We inherited our first codebase from Grin’s excellent Rust design, which is a better language for community participation than C++ that Beam currently uses.
Functionally, Mimblewimble is similar across the 3 coins, with standard Confidential Transactions, CoinJoin, Dandelion++, Schnorr Signatures and other advanced features. Grin is primarily ASIC-targeted, Beam is GPU-targeted, and Epic is multi-hardware.
The biggest differences though are in tokenomics and project structure. Grin has permanent inflation of 60 coins per block with no halvings, which means steady erosion of value over time due to new supply pressure. It also lacks a steady funding model, making future development in jeopardy, particularly as the per coin price falls. Beam has a for-profit model with heavy early inflation and a high developer tax. Epic builds on the strengths of these earlier mimblewimble projects and addresses the parts that could be improved.
Cryptodiffer Community Some privacy coin has scalability issues! How Epic cash will solve scalability issues? Why you choose randomX consensus algorithem?
Xenolink Advisor at Epic Cash
Fungibility means that you can’t distinguish one unit of currency from another, in example Gold. Fungibility has recently become a hot issue as people have been noticing Bitcoins being locked up by exchanges which may of had a nefarious history which are called Tainted Coins. In example coins that have been involved in a hack, darknet market transactions, or even processing coin through a mixer. Today we can already see freshly mined Bitcoins being sold at a premium price to avoid the fungibility problem Bitcoin carries today. Bitcoin can be tracked by chainalysis and is not a fungible cryptocurrency. One of the features that Epic has is privacy with added fungibility, because of Mimblewimble technology, Epic has no addresses recorded and therefore nothing can be tracked by chainalysis. Below I provide a link of an example of what the lack of fungibility is resulting in today with Bitcoin. One of the reasons why we chose the Random X algo. is because of the easy barrier of entry and also to further decentralize the mining. Random X algo can be mined on old computers or laptops. We also have 2 other algos Progpow (GPU), and Cuckoo (ASIC) to create a wider decentralization of mining methods for Epic.
Cryptodiffer Community
I’m a newbie in crypto and blockchain so how will Epic Cash team target and educate people who don’t know about blockchain and crypto?
What is the uniqueness of Epic Cash that cannot be found in other project that´s been released so far ?
Yoga Dude Pr&Marketing at Epic Cash
Actually, while we have our white paper translated into over 30 languages, we are more focused on explaining our uses and advantages rather than cold specs. Our tech is solid, but we not get hung up on pure tech talk which most casual users do not need to or care to understand. As long as our fundamentals and tech are secure and user friendly our primary goal is to educate about use cases and market potential.
The uniqueness of Epic Cash is its amalgamation of “whats good” in other cryptos. We use Mimblewimble for privacy and anonymity. Our blockchain is much lighter than our competitors. We are the only Mimblewimble crypto to use a unique cocktail of mining algorithms allowing to be mined by casual miners with gaming rigs and laptops, while remaining friendly to GPU and CPU farmers.
The “uniqueness” is learning from the mistakes of those who came before us, we evolved and learned, which is why our privacy is better, we are faster, we are fungible, we offer diverse mining and so on. We are the best blend — thats powerful and unique
Cryptodiffer Community
Can you share EPIC’s vision for decentralized finance (DEFI)? What features do EPIC have to support DEFI?
Yoga Dude PR&Marketing at Epic Cash
We view Epic as ideally suited to be the decentralized digital reserve asset of the new Private Internet of Money that’s emerging. At a technology level, atomic swaps can be created to build liquidity bridges so that wrapped Epic tokens (like WBTC, WETH) can trade on other networks as ERC20, BEP2, NEP5, VIP180, Algorand and so on. There is more Bitcoin value locked on Ethereum than in Lightning Network, so we will similarly integrate Epic so that it can trade on networks such as Uniswap, Kyber, and so on.
Longer term, if there is market demand for it, thanks to Scriptless Script functionality our blockchain has, we can build “Confidential Assets” (which Raven, Tari, and Beam are all also working on) that enable people to create tokenized assets in a private way.
Cryptodiffer Community
If you could choose one celebrity to promote Epic-cash, who that would be?
Max Freeman Project Lead at Epic Cash
I am a firm believer that the strength of the project lies in allowing community members to become their own celebrities, if their content is good enough the community will propel them to celebrity status. Organic celebrities with small but loyal following are vastly more beneficial than big name professional shills with inflated but non caring audiences.
I remember the early days of Apple when an enthusiastic dude named Guy Kawasaki became Apple Evangelist, he was literally going around stores that sold Apple and visited user groups and Evangelized his belief in Apple. This guy became a Legend and helped Apple become what it is today.
Epic Cash will have its OWN Celebrities
Cryptodiffer Community
How does $EPIC solve scalability of transactions? Current blockchains face issues with scalability a lot, how does $EPIC creates a solution to it?
Xenolink Advisor at Epic Cash
Epic Cash is utilizing Mimblewimble technology. Besides the privacy & fungibility aspect of the tech. There is the scalability features of it. It is implemented into Epic by transaction cut-through. Which means it allows nodes to remove all intermediate transactions, thus significantly reducing the blockchain size without affecting its validation. Mimblewimble also does not use addresses like a BTC address, and amount of transactions are also not recorded. One problem Monero and Bitcoin are facing now is scalability. It is evident today that data is getting more expensive and that will be a problem in the long run for those coins. Epic is 90% lighter and more scalable compared to Monero and Bitcoin.
Cryptodiffer Community
what are the ways that Epic Cash generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?
Max Freeman Project Lead at Epic Cash
There is a block subsidy of 7.77% that declines 1.11% per year until 0, where it stays after that. As a nonprofit community effort, this extremely modest amount goes much further than in other projects, which often take 20, 30, even 50+ % of the coin supply. We believe that this ongoing funding model best aligns the long term incentives for all participants and balances the compromises between the ends of the centralized/decentralized spectrum of choices that any project must make.
Cryptodiffer Community
Q1 : What are your major goals to archive in the next 3–4 years?
Q2 : What are your plans to expand and gain more adoption?
Yoga Dude Pr&Marketing at Epic Cash
Max already talked about our technical plans and goals in his roadmap. Allow me to talk more about the non technical 😁
We are aiming for broader reach in the non technical more mainstream community — this is a big challenge but we believe it is doable. By offering simpler ways to mine Epic Cash (with smart phones for example), and by doing more education we will achieve the holy grail of crypto — moving past the fiat bridges and getting Epic Cash to be accepted as means of payment for goods and services. We will accomplish this by working with regional advocacy groups, community interaction, off-line promotional activities and diverse social media targeting.
Cryptodiffer Community
It seems to me that EpicCash will have its first Halving, right? Why a halving so soon?
Is a mobile version feasible?
Max Freeman Project Lead at Epic Cash
Our supply emission catches up to that of Bitcoin’s first 19 years after 8 years in Epic, so that requires more frequent halvings. Today’s block emission is 16, next up are 8, 4, 2, and then finally 0.15625. After that, the supply of Epic and that of BTC stay synchronized until maxing out at 21m coins in 2140.
Today we have a mobile wallet through the Vitex app, a native mobile wallet coming, and are working on mobile mining.
Cryptodiffer Community
What markets will you add after that?
Yoga Dude PR&Marketing at Epic Cash
Well, we are aiming to have ALL markets
Epic Cash in its final iteration will be usable by everyone everywhere regardless of their technical expertise. We are not limiting ourselves to the technocrats, one of our main goals is to help the billions of unbanked. We want everyone to be able to mine, buy, and most of all USE Epic Cash — gamers, farmers, soccer moms, students, retirees, everyone really — even bankers (well once we defeat the banking industry)
We will continue building on the multilingual diversity of our global community adding support and advocacy groups in more countries in more languages.
Epic Cash is More than Money and its for Everyone.
Cryptodiffer Community
Almost, all cryptocurrencies are decentralized & no-one knows who owns that cryptocurrencies ! then also, why Privacy is needed? hats the advantages of Private coins?
Max Freeman Project Lead at Epic Cash
With a public transparent blockchain such as Bitcoin, you are permanently posting a detailed history of your money movements open for anyone to see (not just legitimate authorities, either!) — It would be considered crazy to post your credit card or bank statements to Twitter, but that’s what is happening every time you send a transaction that is not private. This excellent video from community contributor Spencer Lambert https://www.youtube.com/watch?v=0blbfmvCq\_4 explains better than I can.
Privacy is not just for criminals, it’s for everyone. Do you want your landlord to increase the rent when he sees that you get a raise? Your insurance company to raise your healthcare costs because they see you buying too much ice cream? If you’re a business, do you want your employees to see how much money their coworkers make? Do you want your competitors to trace your supplier and customer relationships? Of course not. By privacy being default for everyone, cryptocurrency can be used in a much wider range of situations without unacceptable compromises.
Cryptodiffer Community
What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment?
Xenolink Advisor at Epic Cash
Epic Cash can be used as a Private and Fungible store of value, medium of exchange, and unit of account. As Epic Cash grows and becomes adopted it can be compared to how Bitcoin and Monero is used and adopted as well. As Epic is adopted by the masses, it can be accepted as a medium of exchange for store owners and as fungible payments without the worry of having money that is tainted. Epic Cash as a store of value may be a good long term aspect of investment to consider. Epic Cash carries an inelastic fixed supply economic model of 21 million coins. There will be 5 halvings which this month of June will be our first halving of epic. From a block reward of 16 Epic reduced to 8. If we look at BTC’s price action and history of their halvings it has been proven and show that there has been an increase in value due to the scarcity and from halvings a reduction of # of BTC’s mined per block. An inelastic supply model like Bitcoin provides proof of the circulating supply compared to the total supply by the history of it’s Price action which is evident in long term charts since the birth of Bitcoin. EPIC Plans to have 5 halvings before the year 2028 to match the emissions of Bitcoin which we call the singularity event. Below is a chart displaying our halvings model approaching singularity. Once bitcoin and cryptocurrency becomes adopted mainstream, the fungibility problem will be more noticed by the general public. Privacy coins and the features of fungibility/scalability will most likely be sought over. Right now a majority of people believe that all cryptocurrency is fungible. However, that is not true. We can already see Chainalysis confirming that they can trace and track and even for other well-known privacy coins today such as Z-Cash.
Cryptodiffer Community
  1. You aim to reach support from a global community, what are your plans to get spanish speakers involved into Epic Cash? And emerging markets like the african
  2. How am I secure I won’t be affected by receiving tainted money?
Max Freeman Project Lead at Epic Cash
Native speakers from our community are working to raise awareness in key markets such as mining in Argentina and Venezuela for Spanish (Roberto Navarro called Epic “the holy grail of cryptocurrency” and Ethiopia and certain North African countries that have the lowest electricity costs in the world. Remittances between USA and Latin American countries are expensive and slow, so Epic is also perfect for people to send money back home as well.
Cryptodiffer Community
Do EPICs in 2020 focus more on research and coding, or on sales and implementation?
Yoga Dude PR&Marketing at Epic Cash
We will definitely continue to work on research and coding, with emphasis on improved accessibility (especially via smartphones) usability, security and privacy.
In terms of financial infrastructure will continuing to add exchanges both KYC and non KYC.
Big part of our plans is in ongoing Marketing and PR outreach. The idea is to make Epic Cash a viral sensation of sorts. If we can get Epic Cash adopters to spread the word and tell their family, coworkers and friends about Epic Cash — there will be no stopping us and to help that happen we have a growing army of content creators, and supporters.
Everyone with skin in the game gets the benefit of advancing the cause.
Folks also, this isn’t an answer to the question but an example of a real-world Epic Cash content —
https://www.youtube.com/watch?v=XtAVEqKGgqY
a challenge from one of our content creators to beat his 21 pull ups and get 100 epics! This has not been claimed yet — people need to step up 🙂 and to help that I will match another 100 Epic Cash to the first person to beat this
Cryptodiffer Community
I was watching some videos explaining how to send and receive transactions in EpicCash, which consists of ports and sending links, my question is why this is so, which, for now, looks complex?
Let’s talk about the economic model, can EpicCash comply with the concept of value reserve?
Max Freeman Project Lead at Epic Cash
In V3, which is coming later this summer, Epic can be sent over Tor, which eliminates this issue of port opening, even though using tools like ngrok.io, it’s not necessarily as painful as directly configuring the router ports. Early Lightning Network had this issue as well and it’s something we have a plan to address via research into non-interactive transactions. “Fire and Forget” payments to an address, as people are used to in Bitcoin, is coming to Epic and we’re excited to develop functionality that other advanced mimblewimble coins don’t yet have. We are committed to constant improvement in usability and utility, to make our money system the ease of use leader.
We are involved in the project (anyone can join the Freeman Family) because we believe that simply by choosing to use a form of money that better aligns with our ideals, that we can make a positive change in the world. Some of my thoughts about how I got involved are here: https://medium.com/epic-cash/the-freeman-family-e3b9c3b3f166
Max Freeman Project Lead at Epic Cash
Huge thanks to our friends Maks and Vladyslav, we welcome everyone to come say hi at one of our friendly communities. It is extremely early in this journey, our market cap is only 0.5m right now, whereas the 3 other mimblewimble coins are at $20m, $30m and $100m respectively. Epic is a historic opportunity to follow in the footsteps of legends such as Bitcoin and Monero, and we hope to become the first Top 5 privacy coin project.
Xenolink Advisor at Epic Cash
Would like to Thank the Cryptodiffer Team and the Cryptodiffer community for hosting us and also engaging with us to learn more about Epic. If anyone else has more questions and wants to know more about EPIC , can find us at our telegram channel at https://t.me/EpicCash .
Yoga Dude Pr&Marketing at Epic Cash
Thank you, CryptoDiffer Team, and this wonderful Community!!!
Cryptodiffer TEAM
Thank you everyone for taking your time and asking great questions
Thank you for your time, it was an insightful session
Spread the love
submitted by EpicCashFrodo to epiccash [link] [comments]

KYC is absolutely not acceptable for MakerDAO!

I've heard that founder of MakerDAO is not strictly against KYC. I have a message to whole community and specifically to a founder of MakerDAO Rune Christensen. I will explain using concrete examples why having KYC in MakerDAO is a grave mistake and it will lead to MakerDAO fork.
Many people in the first world never actually understand why financial privacy and financial inclusion is important. Even people (in the first world) who seemingly supportive of such ideas are not able to provide any concrete examples of why it's actually important.
Unfortunately, I was born in a "wrong" country (Uzbekistan) and I experienced first hand what financial exclusion actually means. I know first hand that annoying feeling when you read polite, boilerplate rejection letter from financial institution based in first world. So I had to become practical libertarian. I'm going to give you concrete examples of financial discrimination against me. Then I'm going to explain fundamental reasons why it happens. And finally, I'm going to explain my vision for DAI.
Back in 2005, I lived in Uzbekistan. I had an idea to invest in US stocks. I was very naive and I didn't know anything about investing, compliance, bank transfers, KYC etc. All I knew is nice long term charts of US stocks and what P/E means. I didn't contact any US brokerage but I checked information about account opening and how to transfer money there. I approached local bank in Uzbekistan and asked how to transfer money to Bank of New York. Banker's face was like - WOW, WTF?!?! They asked me to go to private room to talk with senior manager. Senior manager of local bank in Uzbekistan asked me why I wanted to transfer money to US. They told me that it's absolutely impossible to transfer money to US/EU and pretty much anywhere. I approached nearly every local bank in the town and they told me the same.
In 2012, I already lived in Moscow and acquired Russian citizenship. I got back to my old idea - investing in US stocks. I called to many US brokerages and all of them politely rejected me. Usually when I called I asked them if I can open an account with them. They told me to hold on line. After long pause, I was able to speak with "senior" support who politely explain me that Russia in their list of restricted countries and they can't open an account for me. Finally, I was able to open an account with OptionsXpress. Next challenge was to convince local Russian bank to transfer money to US. Back then in 2012, I was able to get permission to do so. So you might say - is this happy end?
Fast forwarding US brokerage story to 2017, OptionsXpress was acquired by Charles Schwab. I was notified that my OptionsXpress account will be migrated to Charles Schwab platform. In 2017, I already lived in the Netherlands (but still having Russian citizenship). I wasn't happy with my stupid job in the Netherlands. I called Charles Schwab and asked if I quit my job in the Netherlands and have to return to Russia, what will happen with my account. Schwab told me that they will restrict my account, so I can't do anything except closing my account. So even if I was long term customer of OptionsXpress, Charles Schwab is not fully okay with me.
Going back to 2013, I still lived in Russia. I had another idea. What if I quit my job and build some SAAS platform (or whatever) and sell my stuff to US customers. So I need some website which accept US credit cards. I contacted my Russian bank (who previously allowed me to transfer money to OptionsXpress) about steps to make in order to accept US credit cards in Russia. I've been told explicitly in email that they won't allow me to accept US credit cards under any circumstances.
Back then I still believed in "the free west". So I thought - no problem, I will just open bank account abroad and do all operations from my foreign account. I planned vacation in Hong Kong. And Hong Kong is freest economy in the world. Looks like it's right place to open bank account. I contacted HSBC Hong Kong via email. Their general support assured me that I can open bank account with them if I'm foreigner. I flew to Hong Kong for vacation and visited HSBC branch. Of course, they rejected me. But they recommended me to visit last floor in their HQ building, they told me that another HSBC branch specializes on opening bank accounts for foreigners. I went there and they said minimum amount to open bank account is 10 mil HKD (1.27 mil USD). Later I learned that it's called private banking.
When I relocated to the Netherlands, I asked ABN Amro staff - what's happen with my bank account if I quit/lose my job in the Netherlands and have to return back to Russia. I've been told that I can't have my dutch bank account if I go back to Russia even if I already used their bank for 2+ years.
I still had idea that I would like to quit my job and do something for myself. The problem is that I'm Russian citizen and I don't have any residency which is independent from my employment. So if I quit my job in the Netherlands, I have to return back to Russia. I wanted to see how I would get payments from US/EU customers. I found Stripe Atlas, it's so exciting, they help you to incorporate in US, and even help with banking, all process of receiving credit card payments is very smooth. But as usual in my case, there is a catch - Russia in their list of restricted countries.
Speaking of centralized compliance-friendly (e.g. KYC) crypto exchanges. This year I live and work in Hong Kong. Earlier this year, I thought it would be nice to have an account at local crypto exchange in Hong Kong so I can quickly transfer money from my bank account in Hong Kong to crypto exchange using FPS (local payment system for fast bank transfers). What could go wrong? After all Hong Kong is freest economy in the world, right? I submitted KYC documents to crypto exchange called Weever including copy of my Hong Kong ID as they requested. They very quickly responded that they need copy of my passport as well. I submitted copy of my Russian passport. This time they got silent. After a few days, they sent me email saying that Russia is on the US Office of Foreign Assets Control sanction list, so they just require me to fill a form about source of the funds. I told them that the source of my funds is salary, my Hong Kong bank can confirm that along with my employment contract. They got very silent after I sent them a filled form. After a week of silence I asked them - when my account get approved? They said that their compliance office will review my application soon. And they got very silent again. I waited for two or three weeks. Then I asked them again. And I immediately got email with title - Rejection for Weever Account Opening. And text of email was:
We are sorry to inform you that Weever may not be able to accept your account opening application at this stage.
Exactly the same situation I had with one crypto exchange in Europe back in 2017. Luckily I have accounts at other crypto exchanges including Gemini, one of most compliance obsessed exchange in the world. Although I don't keep my money there because I can't trust them, who knows what might come into head of their compliance officer one sunny day.
By the way, I'm living and working outside of Russia for quite a few years. The situation with crypto exchanges is much worse for those who still living in Russia.
I give you a few other examples of financial discrimination is not related to troubles with my Russian citizenship.
Back in 2018, I still lived in the Netherlands. I logged in into my brokerage account just to buy US ETFs as I always do - SPY and QQQ. I placed my order and it failed to fill. I thought it's just a technical problem with my brokerage account. After a few failed attempts to send buy orders for SPY and QQQ, I contacted their support. What they told me was shocking and completely unexpected. They said I'm not permitted to buy US ETFs anymore as EU resident because EU passed a law to protect retail investors. So as a EU resident I'm allowed to be exposed to more risk by buying individual US stocks but I'm not allowed to reduce my risk by buying SPY because ... EU wants to protect me. I felt final result of new law. By the way, on paper their law looks fine.
And the final example. It's a known fact that US public market become less attractive in recent decades. Due to heavy regulatory burden companies prefer to go public very late. So if successful unicorn startup grows from its inception/genesis to late adoption, company's valuation would be 3-5 orders of orders of magnitude. For example, if valuation of successful company at inception is 1 Mil USD, then at its very latest stage it's valuation would be 10 Bil USD. So we have 10'000 times of growth. In the best case scenario, company would go public at 1 Bil USD 5-10 years before reaching its peak 10 Bil USD. So investors in private equity could enjoy 1000 fold growth and just leave for public only last 10 fold growth stretched in time. In the worst case scenario, company would go public at 10 Bil USD, i.e. at its historical peak. But there are well known platforms to buy shares of private companies, one of such platforms is Forge Global. You can buy shares of almost all blue chip startups. You can even invest in SpaceX! But as always, there is a catch - US government wants to protect not just US citizens but all people in the world (sounds ridiculous, right?). US law requires you to have 1 Mil USD net worth or 200'000 USD annual income if you want to buy shares of non-public company. So if you are high-net worth individual you can be called "accredited investor". Funny thing is that the law intends to protect US citizens but even if you are not US citizen and never even lived in US, this law is still applies to you in practice. So if you are "poor loser", platforms like Forge Global will reject you.
So high-net worth individuals have access and opportunity to Bitcoin-style multi-magnitude growth every 5-10 years. Contrary to private equity markets, US public markets is low risk/low return type of market. If you have small amount of capital, it's just glorified way to protect yourself from inflation plus some little return on top. It's not bad, US public market is a still great way to store your wealth. But I'm deeply convinced that for small capital you must seek fundamentally different type of market - high risk/high return. It's just historical luck that Bitcoin/Ethereum/etc were available for general public from day one. But in reality, viral/exponential growth is happening quite often. It's just you don't have access to such type of markets due to regulatory reasons.
I intentionally described these examples of financial discrimination in full details as I experienced them because I do feel that vast majority of people in the first world honestly think that current financial system works just fine and only criminals and terrorists are banned. In reality that's not true at all. 99.999% of innocent people are completely cut off from modern financial system in the name of fighting against money laundering.
Here is a big picture why it's happening. There are rich countries (so called western world) and poor countries (so called third world). Financial wall is carefully built by two sides. Authoritarian leaders of poor countries almost always want full control over their population, they don't like market economy, and since market forces don't value their crappy legal system (because it works only for close friends of authoritarian leader) they must implement strict capital control. Otherwise, all capital will run away from their country because nobody really respects their crappy legal system. It only has value under heavy gun of government. Only friends of authoritarian leader can move their money out of country but not you.
Leaders of rich countries want to protect their economy from "dirty money" coming from third world. Since citizens of poor countries never vote for leaders of rich countries nobody really cares if rich country just ban everyone from poor country. It's the most lazy way to fight against money laundering - simply ban everyone from certain country.
Actually if you look deeper you will see that rich countries very rarely directly ban ordinary people from third world. Usually, there is no such law which doesn't allow me to open bank account somewhere in Europe as non-EU resident. What's really happens is that US/EU government implement very harsh penalties for financial institutions if anything ever goes wrong.
So what's actually happens is that financial institutions (banks, brokerages etc) do de-risking. This is the most important word you must know about traditional financial system!
So if you have wrong passport, financial institution (for example) bank from rich country just doesn't want to take any risks dealing with you even if you are willing to provide full documentation about your finances. It's well known fact that banks in Hong Kong, Europe, US like to unexpectedly shutdown accounts of thousands innocent businesses due to de-risking.
So it's actually de-risking is the real reason why I was rejected so many times by financial institutions in the first world!!! It's de-risking actually responsible for banning 99.999% of innocent people. So governments of rich democratic countries formally have clean hands because they are not banning ordinary people from third world directly. All dirty job is done by financial institutions but governments are well aware of that, it's just more convenient way to discriminate. And nobody actually cares! Ordinary citizens in rich countries are never exposed to such problems and they really don't care about people in third world, after all they are not citizens of US/EU/UK/CH/CA/HK/SG/JP/AU/NZ.
And now are you ready for the most hilarious part? If you are big corrupt bureaucrat from Russia you are actually welcome by the first world financial institutions! All Russian's junta keep their stolen money all across Europe and even in US. You might wonder how this is possible if the western financial system is so aggressive in de-risking.
Here is a simple equation which financial institution should solve when they decide whether to open an account for you or not:
Y - R = net profit
Where:
Y - how much profit they can make with you;
R - how much regulatory risk they take while working with you;
That's it! It's very simple equation. So if you are really big junta member from Russia you are actually welcome according to this equation. Banks have special name for serving (ultra) high-net worth individuals, it's called private banking. It's has nothing to do with the fact that bank is private. It's just fancy name for banking for rich.
So what's usually happen in real world. Some Estonian or Danish bank got caught with large scale money laundering from Russia. European leaders are ashamed in front of their voters. They implement new super harsh law against money laundering to keep their voters happy. Voters are ordinary people, they don't care about details of new regulations. So banks get scared and abruptly shutdown ALL accounts of Russian customers. And European voters are happy.
Modern money laundering laws are like shooting mouse in your house using bazooka! It's very efficient to kill mouse, right?
Now imagine world without financial borders. It's hard to do so because we are all get so used to current status quo of traditional financial system. But with additional effort you can start asking questions - if Internet economy is so global and it doesn't really matter where HQ of startup is located, why they are all concentrated in just a few tiny places like Silicon Valley and ... well, that's mostly it if you count the biggest unicorns!
Another question would be - why so many talented russian, indian, chinese programmers just go to the same places like San Francisco, London and make super rich companies like Amazon, Google, Facebook, Apple to get even richer? If all you need is laptop and access to internet, why you don't see any trade happening between first and third world?
Well actually there is a trade between first and third world but it's not exactly what I want to see. Usually third world countries sell their natural resources through giant corporations to the first world.
So it's possible to get access to the first world market from third world but this access usually granted only to big and established companies (and usually it means not innovative).
Unicorns are created through massive parallel experiment. Every week bunch of new startups are created in Silicon Valley. Thousands and thousands startups are created in Silicon Valley with almost instant access to global market. Just by law of large numbers you have a very few of them who later become unicorns and dominate the world.
But if you have wrong passport and you are located in "wrong" country where every attempt to access global market is very costly, then you most likely not to start innovative startup in the first place. In the best case scenario, you just create either local business or just local copy-paste startup (copied from the west) oriented on (relatively small) domestic market. Obviously in such setup it's predictable that places like Silicon Valley will have giant advantage and as a result all unicorns get concentrated in just a few tiny places.
In the world without financial barriers there will be much smaller gap between rich and poor countries. With low barrier of entry, it won't be a game when winner takes all.
Whole architecture of decentralized cryptocurrencies is intended to remove middle man and make transactions permissionless. Governments are inherently opposite to that, they are centralized and permissioned. Therefore, decentralized cryptocurrencies are fundamentally incompatible with traditional financial system which is full of middle mans and regulations (i.e. permissions).
Real value of crypto are coming from third world, not the first world. People are buying crypto in rich countries just want to invest. Their financial system and their fiat money are more or less already working for them. So there is no immediate urgency to get rid of fiat money in the first world. So the first world citizens buying crypto on centralized KYCd exchanges are essentially making side bet on the success of crypto in third world.
Real and natural environment of cryptocurrencies is actually dark OTC market in places like Venezuela and China.
But cryptocurrencies like Bitcoin and Ethereum have a big limitation to wide adoption in third world - high volatility.
So the real target audience is oppressed (both by their own government and by first world governments) ordinary citizens of third world countries yet they are least who can afford to take burden of high volatility.
Right now, Tether is a big thing for dark markets across the world (by the way, dark market doesn't automatically imply bad!). But Tether soon or later be smashed by US/EU regulators.
The only real and working permissionless stable cryptocurrency (avoiding hyped word - stablecoin) is DAI.
DAI is the currency for post-Tether world to lead dark OTC market around the world and subvert fiat currencies of oppressive third world governments.
Once DAI become de-facto widespread currency in shadow economy in all of third world, then it will be accepted (after many huge push backs from governments) as a new reality. I'm talking about 10-20+ years time horizon.
But if MakerDAO chooses the route of being compliance friendly then DAI will lose its real target audience (i.e. third world).
I can not imagine US/EU calmly tolerate someone buying US stocks and using as a collateral to issue another security (i.e. DAI) which is going to be traded somewhere in Venezuela! You can not be compliance friendly and serve people in Venezuela.
Facebook's Libra was stupidest thing I've seen. It's extremely stupid to ask permission from the first world regulators to serve third world and create borderless economy. Another stupid thing is to please third world governments as well. For example, Libra (if ever run) will not serve Indian, Chinese, Venezuelan people. Who is then going to use stupid Libra? Hipsters in Silicon Valley? Why? US dollars are good enough already.
submitted by omgcoin to MakerDAO [link] [comments]

Crypto CurrencyBizopps

cryptocurrencybizopps search service bridges the gap between the users and businesses by helping users find relevant providers of services quickly, while helping businesses listed in cryptocurrencybizopps database to market their offerings. cryptocurrencybizopps aims to make life simple for our users and to help business grow for our service firms customers. Cryptocurrencybizopps have 100 M+ satisfied users worldwide.
http://www.cryptocurrencybizopps.com/
So, we are helping our visitors to choose the best Crypto currency opportunity. Our visitors are people who are looking for best Crypto opportunities in the world. Here in this section we have listed the top crypto opportunities to choose from. Ranking has been given on the basis of surveys and public interest. And provide fast, reliable and comprehensive information to our users. We provide Cryptocurrency market cap rankings, Crypto currency charts, and more.
To offer a representative Crypto Companies lists and compare them based on public interest. Even closed companies will still generate residual searches by people looking for historical info on the company. We are also Providing breaking cryptocurrency news focusing on Bitcoin, Ethereum, NEO, ICOs, prices, blockchain technology, and smart contracts.
We think this information is of general interest to people involved with MLM and home based businesses. investing in cryptocurrency is different than investing in a regular stock. Companies often post their own press releases and say things like 'Number One MLM in the Country' or claiming they have the most public 'buzz' about their products or service. Public interest through search engine queries is very difficult to manipulate. Public interest does not in any way represent the quality of the company, just the general buzz and penetration into the market by name recognition and general interest.
submitted by acclevantnew321 to u/acclevantnew321 [link] [comments]

Crypto CurrencyBizopps

cryptocurrencybizopps search service bridges the gap between the users and businesses by helping users find relevant providers of services quickly, while helping businesses listed in cryptocurrencybizopps database to market their offerings. cryptocurrencybizopps aims to make life simple for our users and to help business grow for our service firms customers. Cryptocurrencybizopps have 100 M+ satisfied users worldwide.
http://www.cryptocurrencybizopps.com/
So, we are helping our visitors to choose the best Crypto currency opportunity. Our visitors are people who are looking for best Crypto opportunities in the world. Here in this section we have listed the top crypto opportunities to choose from. Ranking has been given on the basis of surveys and public interest. And provide fast, reliable and comprehensive information to our users. We provide Cryptocurrency market cap rankings, Crypto currency charts, and more.
To offer a representative Crypto Companies lists and compare them based on public interest. Even closed companies will still generate residual searches by people looking for historical info on the company. We are also Providing breaking cryptocurrency news focusing on Bitcoin, Ethereum, NEO, ICOs, prices, blockchain technology, and smart contracts.
We think this information is of general interest to people involved with MLM and home based businesses. investing in cryptocurrency is different than investing in a regular stock. Companies often post their own press releases and say things like 'Number One MLM in the Country' or claiming they have the most public 'buzz' about their products or service. Public interest through search engine queries is very difficult to manipulate. Public interest does not in any way represent the quality of the company, just the general buzz and penetration into the market by name recognition and general interest.
submitted by acclevantnew321 to u/acclevantnew321 [link] [comments]

Bubble

TL;DR Bitcoin isn't in one, but almost certainly ICOs are.
Just spent the day trying to learn to code on solidity. having near-zero programming experience, it was a struggle. but one of the more interesting aspects was the number of people at the event who wanted to learn how to ICO. A lot. A few already had pages up - followcoin.io
Ugh.
There is a wave of mediocre ICOs that has already been washing over us. and it's only (in the near term) going to get worse. I work at one of the biggest "digital asset" companies and we get dozens of emails a week about (shitty) new ICOs.
In a way it's a tribute to bitcoin's brilliance. And Ethereum's. Truly groundbreaking efforts - thank you Satoshi! thank you Vitalik! Nearly all of these ICOs are a pale shadow, but the only reason they can exist and get any attention at all is because of bitcoin.
My point: There will be a pullback at some point. who knows when, but when it happens it will very likely affect bitcoin. at least in the short term. I still believe we're headed to $10k (and beyond...) but it'll get rocky again at some point.
Stages of adoption.
and to be part of something so young, so new.
Like so many of you, I believe this crypto revolution that we've been watching is the birth of something major, something amazing.
I've loved learning about it together - thank you! I'm grateful to all of you for adding your expertise and opinions. It's great to be a part of this with you :)
And a flash back to one of my favorite moments of the last few years, watching bitcoin break away from the bear - https://www.reddit.com/BitcoinMarkets/comments/3wwjnl/daily_discussion_tuesday_december_15_2015/cxzwoga/
submitted by bitvote to BitcoinMarkets [link] [comments]

Huobi Exchange Review

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

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


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


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


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


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

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

We're Going Down To A Market Cap of ~$420bn (Volumetric Observations)

This is a very basic take from a volumetric analysis of Bitcoin. Data dates back from yesterday, but today's confirms this prediction.
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. DO YOUR OWN RESEARCH. THIS IS JUST ME SHARING MY OWN. Hopefully to kill some of the unnecessary FUD out here.
I'll go briefly over the following points:
  1. How we call this prediction for BTC.
  2. Extrapolation to global market cap and other cryptos.
  3. What it means for the crypto space.
  4. Why this information should help you.
Note: I'm not a native english speaker so please forgive in advance any approximation in terminology. Hopefully you can correct my words rather than criticize (assume it's logically correct but using the wrong words, before bashing. I'll humbly accept any criticism too, the point is to discuss.)

1. Volumetric Analysis

Observe this chart, especially the horizontal volume bars on the right, relating to pricing: https://i.imgur.com/ePOS4Ag.png
(Source: Trader of Futures, Published on Jan 29, 2018 on YouTube, link at the bottom. You can watch the video if you want more details about volumetric charts).
Most people look at Technical Analysis from a price standpoint (candles, etc), but this is more backward-looking than forward. In essence it shows what has happened, not what is about to happen.
From a volume standpoint though, you can effectively characterize two very important aspects of a given value:
You can see very clearly that BTC is dull right now over January (horizontally), there's not much incentive to upset the current (downward) trend. Down moves are strong, comparatively to consolidations (horizontal/up moves).
You can also identify the following support levels:
Notice how the volume is much bigger below 8.4k than it is above: this is strong sign that many people are comfortable buying below 8.4k, indicating that there are little chances we go below (everything will be bought). This is currently the strongest next support level for BTC.
Notice also how it's much, much bigger below $5k: reasonably we can assume that BTC cannot move lower. If we break the 5k barrier, it will be bought almost instantly in the $4k-$5k range.
It's all intuition and sentiment, but given the current situation of cryptos (see 3. below), it is very likely that we will go down to 8.4k. It is also very likely that we'll pick back up after that.
Currently, there is resistance around $12k. To break above that level, we'd need volume (horizontally, a push up with enough weight). We'll see how it goes once this bear phase becomes bull again. It's hard to know when the shift back up will happen, but I'd expect in February, and breaking past $12k in March or so.

2. Extrapolation to global market cap and other cryptos (top 25)

Based on prices from yesterday, a dip to $8.44k for BTC would be about 0.85 its price when I took the values (9913 at the time).
It seems that the market is vastly correlated to BTC globally, so if we simply assume a linear move for the market globally, here's what we can expect:
https://i.imgur.com/nJb5Uiw.png
In blue, a 0.85 dip. In pink, a 0.51 dip down to $5k-ish.
Again, it's very likely we will hit the blue values. It's possible, although rather unlikely we'll hit the pink ones.
For any value that's not in this chart, just multiply your coin's current value ×0.85 to get a feel of how much lower it will likely go.
For a more thorough price prediction, we should look at volumes (in pricing, Y-axis) of each cryptocurrency. I don't have time to do that, but you can and would therefore identify the proper support levels for each coin. I assumed here that it's overall "about good enough" to get a feel.

3. The crypto space right now

This is the most subjective part of this post so I'll just echo general sentiment.

Some people have a clear interest for cryptos to go down temporarily

Now that the crypto market has been somewhat legitimized, more and more people want in. They're not willing to buy at ATH obviously, so many are waiting. Others already in are taking profits as they see/saw this bear coming. It's all normal and a factual expectation of any market soaring high, then pausing a bit before going much higher if the underlying fundamentals are good.
The crypto scene right now is a bit of both, good and bad fundamentals (from the tech which is good but mostly beta/alpha, to the use-cases and general legal environment which is uncertain for now and therefore more on the bad sides of things, until such time we clear these unknowns).
Basically, whales are now waiting for the right time to enter. This is our $8.4k support level, as long as there's no major event to upset it (war, stock market crash, basically any macroeconomic bomb).

The somewhat official Bitcoin (BTC) is currently falling out of favor

Versus other cryptos, BTC dominance over the market went from 66% to 33% in a month. It's a huge loss of dominance that it's very unlikely to recover. Many people are already predicting that Ethereum (ETH) will soon take it over.
People also realized that BTC was no more viable as a "peer-to-peer electronic cash system" (words taken from Satoshi Nakamoto in the white paper) and that many other cryptos could be valid candidate. The space is in tremendous innovation, it's a really before-early-adopter phase right now.
Internally regarding Bitcoin itself, there is also much controversy due to forks over fundamental disagreements (namely Bitcoin Cash BHC) and a questionable new direction taken by self-proclaimed official caretakers of BTC (namely "Blockstream").
This is the reason for the feud between Bitcoin (BTC) and btc (BCH). I won't go into it here, but let's just say that overall it's a bit of shitshow that doesn't reflect good upon any bitcoin fork right now, and that appearances can be very, very deceiving, willingly or not from their respective promoters. Personally, I've been flabbergasted at what I've discovered, and I'm pretty sure it will be a big bomb if it ever reaches the attention of major media (it probably won't though).
Basically, BTC is falling out of favor fast from the general public, and this is causing the general crypto market as a whole to pause, reflect, and probably evolve, but that's never as smooth as it seems.
My personal prediction is that the top 3 coins a year from now may possibly not include any bitcoin(s).

Tether, Bitgrail, Bitconnect: time to do some cleaning

These are just examples of FUD-inducing events (some would say with good reasons!) that keep nagging this space with pains that keep it volatile and uncertain.
It's not clear at all when the crypto market will become suitable enough for the real mainstream to enter, not even questioning its use cases for now. But there are thresholds in security, trust, compliance that we have yet to pass with flying colors.
Again, this is causing more uncertainty. Since it's very hard to pinpoint the exact reasons for a surge up or a fall down in value of crypto-values, market actors are taking a stance back before making their bigger moves. Ergo, wait, see what's what.

South Korea, China and the USA are to make big legal moves

We don't know yet what will the legal situation be 6 months from now. What's sure is that official authorities have taken a big deep look at cryptos now, and Asia is by far the biggest investor especially in the mainstream. We're nowhere near that level in the west, although the importance of the USA in the global economy amplifies its decisions from a media standpoint.
Europe is also making moves, although as usually these days, it's a bit of an old dwarf versus Asia and America; its rather conservative population is unlikely to make massive moves (a notable exception is Switzerland for its relative independence from the EU).
This is again more general uncertainty, especially in Korea and China, that begs investors to wait a bit before they move. Hence, the bear is making its run. Big money, the kind that has a clear interest for a lower price, isn't doing anything to stop that trend (see first point).

Big, real, good projects take time

If you look at the development roadmaps and expectations from big projects team members (ETH, NEO...), you'll see that they expect to meet certain very important milestones (notably in scaling) by 2019 or even 2020. We're not there yet for general mainstream VISA-threatening adoption, guys. We still have A LOT of work to do.
Did I already mention that this market needs time?

4. What this information all means for you, how does this help?

Obviously the most important parts were 1. and 2. regarding your investments.
You now have a clearer picture of where we're going, most likely. You can anticipate how much your values will drop if they keep going down. So you can now arm yourself with patience, knowing that it is to be expected.
A bear market sometimes makes casualties, in the form of values (coins, companies, entire sectors...) that had no solid-enough grounds. There are bankruptcies, some teams/projects get bought. Others earn their legitimacy, too.
Don't panic. Just rationalize your investments:
  • Are the projects you support solid? It's not about being big (top 25) or small (in the high hundreds on CMC...), it's about being good, realistic, solving problems. It's about having people that can deliver on their objectives (track record, experience, behavior with other actors and on social media). I have more confidence in some rank 1,000-ish cryptos in my portfolio than some top 25.
  • How deep are their pockets? Dedicated their team? Can they withstand a month or even year-long bear market? Can they keep the payroll going until there's money coming in, i.e. a valid product? How timely is their product versus the chances of adoption? (this is why I insisted on making part 3. above).
You can't necessarily know the real answer to all these questions unless you're an insider, but some projects are better than others at making these unknowns known. Trust your intuition. If something feels off to you, it probably is to some degree. Question is, how comfortable are you supporting them with your own money?

Final words

Expect the dip to continue.

Until you see a market cap of ~420 billions, it's just the natural continuation of current volumes. It's OK, you already know (now...) what it means in terms of numbers in your portfolio. You wouldn't be here in the first place if you weren't ready for dips in-between highs.
If we break below that, sub-$400bn, then chances are we'll be heading for a 50%-ish dip, down to ~250bn. It's OK, too. Don't panic sell. Just be brutally honest with yourself before that, to let go of projects that you don't really believe in (moonshots ICOs and over-hyped coins), remain confident as ever in the ones you trust to see the light eventually.
This is a long term game, we're before early adoption in terms of tech.
There will be many such dips before we get there.
But we'll get there, eventually. That's what we all believe. And we have solid grounds for that belief, it's not faith, it's an educated guess based on how this world and business works.

If you want to double in (buy more), look at volumes to get a general bearing on your favorites.

Look at volumes on your coins. On the general market. Look how big people are moving, not just how high/low a given value is moving (it could be very low volumes and mean not much, if anything at all).
Don't be the sucker that only looks at candles. Spoiler: good traders don't really care for candles. Price analysis. TA. This is all just a reflection of the past. Volume is where it's at to anticipate moves, and you can only mix that with experience and intuition for the market. That's what investing on markets means.
You should never invest in something you don't understand, in a company or project you can't judge for yourself. For instance I understand tech, so I'm comfortable investing in Silicon Valley tech companies. But I know shit about retail even though I read Sam Walton's and Jeff Bezos biography. So I don't invest in those. If you invest in crypto, you should at least know a bit about crypto-tech itself, and you should know about the industry your particular projects are targeting.
None of this post is financial advice (I'm not qualified for that). But this is my only investing advice for you: know what these guys you're giving money to are doing. Be able to have an opinion about their goals, how it fits in the real world.
That's it, peeps. Already long enough I guess.
I'm hoping some nice fellow redditor can make a guide to volumetric analysis on tradingview.com or something.
Have a great day.
Link to the video that inspired me to make this post: https://youtu.be/DMFK6_gA_H4

EDIT: QUICK UPDATE 2018-02-02 10:44 UTC

We're now standing right above the support level for [email protected]$8.4K-ish (Y-axis volume profile). So far this estimation seems to be about right. [disclaimer: it's not just me, several people called this a month ago, I'm actually late to this party.]
  • Answering comments about graph analysis of any kind:
Remember, it's not only graph analysis: a good part of guesstimating markets is just that, guessing, based on intuition/sentiment/experience, whatever you call it. The news do matter, so do the fundamentals (the tech, the target market/sector's readiness for adoption of products (aka S-curve), the legal environment, etc.). Part 3 in this post is mostly why I drew such conclusions from the volume profile, and why I ultimately felt we were going down (and could still go lower). This doesn't change my general feeling that cryptos are here to stay and will be a major part of the economy in the 2020's. Nonetheless, volume profile is a strong indicator of future performance, unless major event —extrinsic (e.g. global crash/war etc.) or intrinsic (e.g. bad fork, legal issues, etc.), for a period about as long as the retracing (here, 4 months, so whatever you infer from these charts above could only go as far as April or so). I feel the market is too new and volatile to infer much further from graphs, after that it's only sentiment.
  • Back to our chart:
We broke below the average growth line from early October (white line + "!" on this graph). I don't think it's very significant, but some people would, so I included it. Notice we only have 2 strong lows to draw this, one (middle) is weak-ish.
There's a big buy wall underneath our current $8.4K support level, so chances are we'll rebound. If we do break below however, we're headed towards the yellow arrow/line ($5K, $250bn market cap or lower if other cryptos keep falling below BTC, and they very well might in average if this is a sanitizing event —which is very much needed for the sanity of this space, imho). Looking at the overall ordered volumes (horizontally), the current fall isn't very much sustained however, about average, indicating a dull movement upset only by previous volume profiles as we speak. An influx of good news could reverse it. Otherwise... brace yourselves.
Edit 2018-02-02 23:30 UTC: the market seems to have stabilized around $410 bn.
Edit 2018-02-07 13:05 UTC: We've hit a low of $270~280 bn, BTC tried the $6K level but bounced. News from the USA seems to have a positive effect, possible recovery ongoing (it's an integral part of the way we read these charts today). Volumes are stronger than ever on this rising trend. We may still see a bigger dip or two but general trend imho looks to be upwards.
We are currently testing a resistance level around $8500 for BTC. (Next one above is 12K-ish and then there's no foreseeable bound. Below we sit above a direct fall to $5.5K).
Edit 2018-02-09 01:50 UTC: We're not in the clear yet, imho. The sentiment is still bearish. There are signs of bulls waiting to come in but we're testing a rather strong resistance level kicking off around $8,400. Below the current $8K price, we do have to confirm or find a floor before we bull back up (last support on Feb 6th was at $6K, history shows a support level around 5,400 (from Nov 12) but volume profile suggests we could test slightly below, $5K support from mid Oct).
I am still observing this market before making another post. I'm about half confident that we're seeing the last bears.
Right now I don't have anything else to say to you other than what I'm personally doing: I'm holding, not buying this dip just yet; waiting to see a second confirmation of the support level in the $5K~6.5K range (i.e. support level). I want to make a most educated decision in the aftermath of this crash. I plan to buy in just after the bull market resumes, once I've had several (at least two) possible confirmations (might be RSI, might be volumes, might be some news/sentiment, might be just a textbook 'W' too).
On the way up, regardless of when it happens, we still have to retest several resistance levels: $12.2K, 13K, 14.6K. BTC is very uncomfortable for some reason around $12K, so I expect turmoil in these areas.
Here's my non-professional advice for crucial times: don't be too hasty. Don't panic over 20% when your end game is 200% or ten times that. Don't fear of missing out by a day or even a week when you're in for years... Many (educated) people still believe $30K~40K for BTC by year's end to be a rather conservative estimate. I concur. So who gives a f--k about $2K more or less now? ; )
Edit 2018-02-12 20:20 UTC:
This time, the volume profile I outlined 11 days ago was rather spot on.
I'm still observing the market honestly, we're in a bit of a horizontal move right now. We did stretch almost to $250bn in the dip, but it seems $420bn really is/was the consolidation average box. It's hard to predict which way it's gonna break out in the short term. (for more info, see "Bitraged" videos on YouTube, they really nail it in their current videos, lots of educational value too; I really like their channel).
What's sure is that, everyday we spend at this market cap is all the more ground to "validate" this $420bn value; in other words as we accumulate historical volume at this level, it means that the crypto market really is worth it (increasingly certainly not less). That's a reassuring sign imho.
I think the real consolidation will happen later this year, probably at a higher market cap, when "good" coins/projects start siphoning the "bad" ones. Big finance involvement (and their many audits, reports, evaluations, etc. destined to their major customers) will sort out the market hopefully more rationally than it is today. I expect this to slowly be reflected on rankings like CMC.
Regarding Q2-Q3, there are increasingly many more signs that the future looks bright overall. However I'm thinking that the involvement of big financial institutions (FI) will likely result in much more regulation and therefore the death of many not-so-fantastic projects/coins, and some exchanges as well. I hope this will truly be the year of decentralized exchanges, so that we have an alternative to big FI's exchanges (I personally would use both, for different purposes).
Personally I'm regrouping my assets around projects I really really trust, those with a promising basis and already established demand (e.g. fiat-to-crypto gates, or crypto management solutions for the mainstream), while planning on investing in some hot-shot ICOs during Q1.
Thanks again for all your comments and pms, I very much appreciate the discussion.
submitted by ikkei to CryptoCurrency [link] [comments]

Cryptocurrencies and the circle of competence

A quick note to investors that believe the intrinsic value of bitcoin is 0 because they can't do a DCF on it: this isn't the place to argue with me about it. I suggest you read a bit more about what it actually is (hint: not a currency). I've defended its value in plenty of other posts on this sub. It's a $40+ billion market, so at least a few people agree with me. I welcome you to short the crypto of your choice if you think it's worth nothing. This is a post for folks that believe that cryptocurrencies have at least some discernible value and are considering investing in them.
If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter. – Warren Buffett
Given the tripling of the cryptocurrency market cap in the last few months and the 3- to 10-fold increases in virtually every major altcoin, cryptocurrencies like Ethereum and of course Bitcoin have been getting a stunning amount of attention in the press and on this subreddit recently.
If you follow the cryptocurrency world closely, you know that there have been a huge amount of dubious ICOs (initial coin offerings) on the market recently. It's an explosive time in crypto.
It's also a frustrating time for many long term bitcoiners and crypto fans, because we're faced with a barrage of questions from outsiders who see the returns and want to buy in to the "next big thing" and make a quick buck. This is a warning to those people.
Everyone is a genius is a rising market. It's hard to go wrong these days in crypto. Even coins of dubious merit like Ripple, Dogecoin, Stellar, NEM were pumped 5 times without any fundamental change. Speculators/investors have thrown money at crypto indiscriminately and efficient markets have 100% broken down. The altcoin pump right now is roughly comparable to the Dot Com crisis of the early 2000s.
  1. New tech promises to change the world
  2. Investors jump in on hype and promises
  3. A surge of IPOs (ICOs) occurs to capitalize on this
  4. "Greater fool" traders pile in, thinking they can make money even if the underlying is unsound
  5. Analysts claim "this time is different" while seasoned old hands refuse to participate
  6. Tech is proven not to be as developed as everyone thinks, market tanks
  7. Select few decent companies survive, all the trash is destroyed
  8. Tech eventually fulfills expectations, 10 years later, but none of the investors from the early days make money on it
However, canny (and skeptical) investors can still make money on crypto, as cryptocurrencies are inevitable, and will continue to expand and proliferate, even when the altcoin crash comes.
Something to realize first of all is that the crypto market is heterogeneous. It has straightforward cryptocurrencies (bitcoin, litecoin, dash, monero), smart-contract cryptos (ethereum, ethereum classic) and a whole bunch of crypto tokens that follow dedicated platforms (golem, augur, steem). Not mentioned are ripple and stellar because they aren't really cryptocurrencies at all.
The investing theses for all of these categories is radically different. The measure of success for a currency or store of value is adoption, merchant use, low volatility, a large network, and real world acceptance as something worth owning. Bitcoin has this right now, which is why it's more than 50% of the ecosystem, and none of its competitors are even close. Monero, Zcash, and Dash are a special case in that they try and make transactions anonymous and privacy, allowing for use cases on the darknet markets, for instance.
The tech underlying bitcoin is essentially sound, although it is having a scalability crisis, which you should read about. It can't right now serve as a currency which will buy you a cup of coffee - the transaction fees are too high. However if you want to send $200,000 from Mexico to Indonesia or China to the Philippines, you can do it within 20 minutes, and with fees of a few dollars. And if you want to store your wealth in a vault that is totally secure, and cannot be debased by a central bank, bitcoin is a good bet. This is highly relevant to folks in India that just had cash abolished, to Venezuelans, to Argentines, to Cypriots, to Nigerians, anywhere local currencies are weak and volatile. The potential value of a competing cryptocurrency lies in whether it can improve materially on bitcoin, whether it means incorporating off-chain scaling (segwit with litecoin), making it more private and fungible (monero), automating governance (decred), and so on.
Then there are cryptoassets that incorporate smart contracts. These – ethereum and its derivatives – exploded when the SEC denied the Bitcoin ETF back in march and bitcoiners got worried and started diversifying. This is the market segment that is highly risky, even by crypto standards, in my opinion. Ethereum is a protocol that allows contracts to self-enforce. Programming power to run the contracts is paid for with ethereum. Two parties agree to a contract, and it then self-executes. It's secured by a decentralized computing network of ethereum miners, so the contracts cannot be shut down by a government or corporation. It's pretty clever. Last year, a $150+ million contract was drawn up with ethereum, which would act like a venture capital fund, picking good investments just based on the votes of the token holders. This was called a Decentralized Autonomous Organization, and it was hacked before it could do anything. Well, it was exploited based on the code and so the exploit was totally "fair" given that the contract was meant to be inevitable, once agreed to. However, the creators of Ethereum didn't like the idea of losing $50 million, so they decided to collectively agree to amend the rules of the protocol itself (violating "Code is Law"), and jump onto a new one, which they would also call Ethereum, although it was really Ethereum 2.0. Some people got upset by this, because they thought that immutability and not arbitrarily rolling back the code was more important than some investors losing money because of poorly written code. They created Ethereum Classic, which is the original Ethereum chain. This wasn't what the Ethereum 2.0 folks thought would happen, but it did happen, so there are two competing Ethereum chains now.
Eventually, lots of decentralized apps were funded, via tokensales. A development team would say: "we're going to use ethereum to create a decentralized cloud computing/AI/prediction/gambling/timestamping/social media network." And then investors would buy the tokens, expecting that eventually the dev team would deliver, and the tokens would be in demand, since they would be required to use the network. It's a bit like buying in-game-currency when the game is announced, anticipating that the game would be wildly popular and you'd be able to sell it on later at a profit or acquire it cheaply to buy in-game items later on. However, many of us think that the promises are a bit extravagant, and that investors in these ICOs are probably going to lose money. The incentives aren't well aligned. Founders can just not deliver and run off with the money, and there's no regulatory body to enforce that. And for Ethereum more broadly, many people are worried that the turing-completeness of the language will mean it will face serious threats and unforeseeable hacks, like with the DAO. Finally, Ethereum has increased from around $20 to $90 in a matter of months, which raises the question of whether a) the market realized its true value or b) it was pumped on speculation. There's a huge set of unknowns with a smart contract currency, and virtually none of the promised dapps are up and running right now, and the ones that are haven't really attracted large userbases or delivered. This is because the tech is in its infancy, and the developers are still learning how to use it properly. So we won't know if these sorts of decentralized networks are even possible to create on the timelines that investors are expecting. Therefore, ethereum investors buying it on the promise of the realization of this tech in the near future are almost guaranteed to be disappointed. Additionally, ethereum is making the switch to the largely untested Proof of Stake algorithm, which will change incentives that secure the network. This brings me to my key point:
Stay within your circle of competence. You can grow your circle – slowly. Cryptoassets are almost impossibly complex to grasp with just a cursory look. Investing in them requires weeks of reading and a very skeptical view.
The above was an introduction to cryptocurrencies, the different ones on offer, and why investing in ethereum is not the slam dunk everyone thinks it is. This portion of the post will tell you about the kind of due diligence you need to do if you want to invest, rather than speculate, in crypto.
The first thing to mention is that passive investing in crypto has historically been a terrible strategy. Just buying bitcoin almost always outperformed. This was due to the poor set of altcoins, and the size of bitcoin's almost insurmountable network effect. This sort of changed in March and April when bitcoin's dominance went from 80% to ~50%, and it remains to be seen if this will persist or not. But the point is, buying the index is usually an awful strategy in crypto, particularly because there are so many truly awful projects out there.
So what does it take to invest responsibly in cryptocurrencies? It requires at least a basic understanding of three disciplines: public-private key cryptography; programming, and how open-source projects function; and economics, particularly game theory and the quantity theory of money. This is why is is so difficult to apprehend easily: because very few people actually boast a sincere understanding of these three topics. I certainly don't.
You need to be able to determine whether the tech is actually going anywhere, and whether the task the developers have set themselves is possible or realistic. You need to know how open source networks are governed, and which models strike the best balance between efficiency of decision-making and fair consensus. You need to be able to measure the inflation schedule of the cryptocurrency, and see whether your coins are going to inflated away. You need to be able to make plausible guesses about the potential market for the crypto and estimate future values. Note that the payoff structure is not equity-like. It's more like early stage venture capital, or buying loss-making biotech companies. Here's my checklist of questions to answer, ordered by importance:
  • Does the project offer a significant improvement over its nearest competitor, or a reasonable chance of success in its stated aim? Is there a demand for this project? Does it have a concise and reasonable goal? (Narrower goal: higher likelihood of success).
  • Is the development team competent? Are they committed to the coin? What's their track record? Is is an active dev team? Do they have a roadmap for the future? Are they transparent about goals?
  • How is the development team funded? Is the currency corporate-backed? Is the funding transparent? Was the coin significantly premined? (Usually bad) Are developers paid via iterative community project crowdfunding? (Usually good).
  • What is the governance structure of the currency? Who holds ultimate control over decisionmaking? How are decisions made? Are they transparent? Are mining/developer incentives aligned?
  • Does the asset have acceptance and use today? Does it have a functioning use case? If it doesn't, does it have a decent chance of being accepted?
  • Has the asset's "market cap" tripled or quintupled in the last few months? Was this based on any fundamental changes (new software releases, etc) or just speculation?
  • What are the transaction volumes like? (Hint: divide market cap by monthly averaged daily on-chain tx volume to find a consistent ratio) What's the ratio of on-chain transaction versus exchange speculation? Has price gone up independent of transaction volumes?
  • How long has the asset been around? Think of the Lindy effect. Older is usually better.
  • What's the community like? Is there censorship? Does it have an active subreddit? Do the developers answer questions? Are they accessible? How big is the github community? (Hint: you can divide market cap by github commits to find a comparable ratio).
  • Are you psychologically able to hold this coin in a 90% downturn? Is this a high conviction thesis or are you betting on being able to sell it to a greater fool?
How long did it take you to learn about investing in equities? Reading balance sheets, running DCF and DRI models, figuring out how to value a stock based on comparables? Years? How many mistakes did you make before you figured out how to be responsible?
Cryptos are an asset class that is both radically different from anything that has existed before. They are also incredibly heterogeneous, as I argued above. It also leads to cultism – so bitcoiners generally take a dim view of ethereum, and vice versa. Monero fans generally don't like dash, and so on. You have to keep your mind open to understand new opportunities as they arise, and to stop yourself becoming too mentally invested in your project of choice. The vast majority of projects will fail within 5 years, so becoming overly certain of the success of one will probably devastate you. If you can stay balanced, stay honest about your crypto's chances of success and adoption, not get tunnel vision, and not take overly risky positions, you have a good chance of not losing everything. Remember the payoff structure. Heavily rightward skewed. A ton of cryptos earn no return and a select few earn an absurd (1,000-10,000x) return.
None of this is necessary if you just want to invest randomly in one of the top ten cryptos. That's the strategy of 95% of investors today. Pick a coin and go. If it's not bitcoin, I can pretty much guarantee you'll lose money. The newer, the worse.
I've not made an effort to convince you that cryptos have intrinsic value. If you've made it this far, you probably think they're worth something at least. However, they're probably not worth as much as the market is pricing them at right now. Especially not those in the ethereum family. I'm not going to tell you what to invest in, because that would defeat the purpose of this post. I'm telling you to do your due diligence before blindly buying a crypto. And that due diligence on ethereum is as complex and difficult as Tesla or Amazon DD. And that your skills in equity valuation are pretty much useless in this asset class. My circle of competence doesn't extend to options or lean pork futures, so I don't touch those. I suggest that until you really feel comfortable in crypto, you don't buy randomly.
Summative thoughts:
  1. Investing in crypto is hard
  2. 90% of people that invest at market peaks will lose money
  3. You have to extremely skeptical and invest in high-conviction positions
  4. Cryptos are exhibiting bubbly behavior right now, it's a pretty bad time to pick one out
  5. Cryptos are nothing like equities but they do have real value
  6. Cryptos are the future, but almost none of these coins will survive 10 years
  7. The older the better
  8. Governance is key
  9. These are speculative positions, only invest what you can tolerate losing
  10. You can make money investing in cryptos
  11. Passively investing in cryptos doesn't work
  12. It's a winner takes most market, there won't be 1 crypto that wins. There will be different cryptos for different use cases.
edit: deleted chart with probabilities of success because of subjectivity and oversimplification.
edit2: I've been overwhelmed with PMs so bear with me. also, please forgive any spelling errors on this post. I wrote it in one frenzied sitting.
edit3: I knew I would get a fair amount of resistance from ethereum investors (even though I attempted to keep my post as balanced as possible) but I was unprepared from the breathtaking volume of spam and diversity of attacks. One particular user has made 30 comments in this thread. I don't have a stake in ETC, period. The post is 3000 words long and most of it is about how to properly do your due diligence in a crypto. if ethereum fares poorly by standard due diligence metrics, then perhaps your issue is deeper than one post on /investing.
final edit: there have been some broken-hearted ethereum fans very busy organizing brigades against this post, and attacking me personally, and so on. It's all very incovenient. I can tell that I struck a nerve. This post isn't really about ethereum - it's about how to do research in crypto, and why you can't expect to profit handsomely without that due diligence. I mentioned ethereum because there are 3 or 4 breathless posts on here a day about its stunning gains and whether it's worth investing in. My answer: read about it first, from a diverse set of sources. A final note: I do not own any ethereum classic, I have never owned ethereum classic. I brought it up because it is part of the ethereum story, and an example of what happens when you have a contested hard fork. I do hope that ethereum succeeds, I am just cautioning against over exuberance.
submitted by isrly_eder to investing [link] [comments]

CRAZY BITCOIN CHART PREDICTS A 3 YEAR BULLRUN from NOW!!! BITCOIN, LITECOIN, ETHEREUM UPDATE ON THE 1 WEEK CHART!! HOW I'M PLAYING THIS MARKET RIGHT NOW! BITCOIN READY TO MAKE ITS MOVE!?!? BTC TA charts, Crypto price prediction, analysis, news, trading BITCOIN : ETHEREUM : July-5 : Update Technical Analysis Chart BITCOIN: The ONE Chart BTC Whales DON'T Want YOU to SEE!! Simpsons Explain Crypto

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CRAZY BITCOIN CHART PREDICTS A 3 YEAR BULLRUN from NOW!!!

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