Sports betting with Bitcoin is so much easier than you think
The Complete Guide to Bitcoin Spread Betting & Top 6
Peter Thiel CNBC Video: “I’m Long Bitcoin and Neutral to Skeptical About Almost Everything Else (With Some Exceptions). Bitcoin Best Use Case is Store of Value Similar to Gold. Bet on the Biggest.” March 15, 2018
Peter Thiel CNBC Video: “I’m Long Bitcoin and Neutral to Skeptical About Almost Everything Else (With Some Exceptions). Bitcoin Best Use Case is Store of Value Similar to Gold. Bet on the Biggest.” March 15, 2018
Peter Thiel CNBC Video: “I’m Long Bitcoin and Neutral to Skeptical About Almost Everything Else (With Some Exceptions). Bitcoin Best Use Case is Store of Value Similar to Gold. Bet on the Biggest.” March 15, 2018
Peter Thiel CNBC Video: “I’m Long Bitcoin and Neutral to Skeptical About Almost Everything Else (With Some Exceptions). Bitcoin Best Use Case is Store of Value Similar to Gold. Bet on the Biggest.” March 15, 2018
Peter Thiel CNBC Video: “I’m Long Bitcoin and Neutral to Skeptical About Almost Everything Else (With Some Exceptions). Bitcoin Best Use Case is Store of Value Similar to Gold. Bet on the Biggest.” March 15, 2018
Peter Thiel CNBC Video: Im Long Bitcoin and Neutral to Skeptical About Almost Everything Else (With Some Exceptions). Bitcoin Best Use Case is Store of Value Similar to Gold. Bet on the Biggest. March 15, 2018
Taproot! Everybody wants to have it, somebody wants to make it, nobody knows how to get it! (If you are asking why everybody wants it, see: Technical: Taproot: Why Activate?) (Pedants: I mostly elide over lockin times) Briefly, Taproot is that neat new thing that gets us:
Multisignatures (n-of-n, k-of-n) that are just 1 signature (1-of-1) in length!! (MuSig/Schnorr)
Better privacy!! If all contract participants can agree, just use a multisignature. If there is a dispute, show the contract publicly and have the Bitcoin network resolve it (Taproot/MAST).
Activation lets devs work get back to work on the even newer stuff like!!!
Cross-input signature aggregation!! (transaction with multiple inputs can have a single signature for all inputs) --- needs Schnorr, but some more work needed to ensure that the interactions with SCRIPT are okay.
Block validation - Schnorr signatures for all taproot spends in a block can be validated in a single operation instead of for each transaction!! Speed up validation and maybe we can actually afford to increase block sizes (maybe)!!
SIGHASH_ANYPREVOUT - you know, for Decker-Russell-Osuntokun ("eltoo") magic!!!
OP_CHECKTEMPLATEVERIFY - vaulty vaults without requiring storing signatures, just transaction details!!
So yes, let's activate taproot!
The SegWit Wars
The biggest problem with activating Taproot is PTSD from the previous softfork, SegWit. Pieter Wuille, one of the authors of the current Taproot proposal, has consistently held the position that he will not discuss activation, and will accept whatever activation process is imposed on Taproot. Other developers have expressed similar opinions. So what happened with SegWit activation that was so traumatic? SegWit used the BIP9 activation method. Let's dive into BIP9!
bit - A field in the block header, the nVersion, has a number of bits. By setting a particular bit, the miner making the block indicates that it has upgraded its software to support a particular soft fork. The bit parameter for a BIP9 activation is which bit in this nVersion is used to indicate that the miner has upgraded software for a particular soft fork.
timeout - a time limit, expressed as an end date. If this timeout is reached without sufficient number of miners signaling that they upgraded, then the activation fails and Bitcoin Core goes back to the drawing board.
Now there are other parameters (name, starttime) but they are not anywhere near as important as the above two. A number that is not a parameter, is 95%. Basically, activation of a BIP9 softfork is considered as actually succeeding if at least 95% of blocks in the last 2 weeks had the specified bit in the nVersion set. If less than 95% had this bit set before the timeout, then the upgrade fails and never goes into the network. This is not a parameter: it is a constant defined by BIP9, and developers using BIP9 activation cannot change this. So, first some simple questions and their answers:
Why not just set a day when everyone starts imposing the new rules of the softfork?
This was done classically (in the days when Satoshi was still among us). But this might argued to put too much power to developers, since there would be no way to reject an upgrade without possible bad consequences. For example, developers might package an upgrade that the users do not want, together with vital security bugfixes. Either you live without vital security bugfixes and hire some other developers to fix it for you (which can be difficult, presumably the best developers are already the ones working on the codebase) or you get the vital security bugfixes and implicitly support the upgrade you might not want.
Sure, you could fork the code yourself (the ultimate threat in the FOSS world) and hire another set of developers who aren't assholes to do the dreary maintenance work of fixing security bugs, but Bitcoin needs strong bug-for-bug compatibility so everyone should really congregate around a single codebase.
Basically: even the devs do not want this power, because they fear being coerced into putting "upgrades" that are detrimental to users. Satoshi got a pass because nobody knew who he was and how to coerce him.
Suppose the threshold were lower, like 51%. If so, after activation, somebody can disrupt the Bitcoin network by creating a transaction that is valid under the pre-softfork rules, but are invalid under the post-softfork rules. Upgraded nodes would reject it, but 49% of miners would accept it and include it in a block (which makes the block invalid) And then the same 49% would accept the invalid block and build on top of that, possibly creating a short chain of doomed invalid blocks that confirm an invalid spend. This can confuse SPV wallets, who might see multiple confirmations of a transaction and accept the funds, but later find that in fact it is invalid under the now-activated softfork rules.
Thus, a very high threshold was imposed. 95% is considered safe. 50% is definitely not safe. Due to variance in the mining process, 80% could also be potentially unsafe (i.e. 80% of blocks signaling might have a good chance of coming from only 60% of miners), so a threshold of 95% was considered "safe enough for Bitcoin work".
Why have a timeout that disables the upgrade?
Before BIP9, what was used was either flag day or BIP34. BIP34 had no flag day of activation or a bit, instead, it was just a 95% threshold to signal an nVersion value greater than a specific value. Actually, it was two thresholds: at 75%, blocks with the new nVersion would have the new softfork rules imposed, but at 95% blocks with the old nVersion would be rejected (and only the new blocks, with the new softfork rules, were accepted). For one, between 75% and 95%, there was a situation where the softfork was only "partially imposed", only blocks signaling the new rules would actually have those rules, but blocks with the old rules were still valid. This was fine for BIP34, which only added rules for miners with negligible use for non-miners.
The reasons miners signalled support was because they felt they were being pressured to signal support. So they signalled support, with plans to actually upgrade later, but because of the widespread signalling, the new BIP66 version locked in before upgrade plans were finished. Thus, the timeout that disables the upgrade was added in BIP9 to allow miners an escape hatch.
The Great Battles of the SegWit Wars
SegWit not only fixed transaction malleability, it also created a practical softforkable blocksize increase that also rebalanced weights so that the cost of spending a UTXO is about the same as the cost of creating UTXOs (and spending UTXOs is "better" since it limits the size of the UTXO set that every fullnode has to maintain). So SegWit was written, the activation was decided to be BIP9, and then.... miner signalling stalled at below 75%. Thus were the Great SegWit Wars started.
BIP9 Feature Hostage
If you are a miner with at least 5% global hashpower, you can hold a BIP9-activated softfork hostage. You might even secretly want the softfork to actually push through. But you might want to extract concession from the users and the developers. Like removing the halvening. Or raising or even removing the block size caps (which helps larger miners more than smaller miners, making it easier to become a bigger fish that eats all the smaller fishes). Or whatever. With BIP9, you can hold the softfork hostage. You just hold out and refuse to signal. You tell everyone you will signal, if and only if certain concessions are given to you. This ability by miners to hold a feature hostage was enabled because of the miner-exit allowed by the timeout on BIP9. Prior to that, miners were considered little more than expendable security guards, paid for the risk they take to secure the network, but not special in the grand scheme of Bitcoin.
ASICBoost was a novel way of optimizing SHA256 mining, by taking advantage of the structure of the 80-byte header that is hashed in order to perform proof-of-work. The details of ASICBoost are out-of-scope here but you can read about it elsewhere Here is a short summary of the two types of ASICBoost, relevant to the activation discussion.
Overt ASICBoost - Manipulates the unused bits in nVersion to reduce power consumption in mining.
Covert ASICBoost - Manipulates the order of transactions in the block to reduce power consumption in mining.
Now, "overt" means "obvious", while "covert" means hidden. Overt ASICBoost is obvious because nVersion bits that are not currently in use for BIP9 activations are usually 0 by default, so setting those bits to 1 makes it obvious that you are doing something weird (namely, Overt ASICBoost). Covert ASICBoost is non-obvious because the order of transactions in a block are up to the miner anyway, so the miner rearranging the transactions in order to get lower power consumption is not going to be detected. Unfortunately, while Overt ASICBoost was compatible with SegWit, Covert ASICBoost was not. This is because, pre-SegWit, only the block header Merkle tree committed to the transaction ordering. However, with SegWit, another Merkle tree exists, which commits to transaction ordering as well. Covert ASICBoost would require more computation to manipulate two Merkle trees, obviating the power benefits of Covert ASICBoost anyway. Now, miners want to use ASICBoost (indeed, about 60->70% of current miners probably use the Overt ASICBoost nowadays; if you have a Bitcoin fullnode running you will see the logs with lots of "60 of last 100 blocks had unexpected versions" which is exactly what you would see with the nVersion manipulation that Overt ASICBoost does). But remember: ASICBoost was, at around the time, a novel improvement. Not all miners had ASICBoost hardware. Those who did, did not want it known that they had ASICBoost hardware, and wanted to do Covert ASICBoost! But Covert ASICBoost is incompatible with SegWit, because SegWit actually has two Merkle trees of transaction data, and Covert ASICBoost works by fudging around with transaction ordering in a block, and recomputing two Merkle Trees is more expensive than recomputing just one (and loses the ASICBoost advantage). Of course, those miners that wanted Covert ASICBoost did not want to openly admit that they had ASICBoost hardware, they wanted to keep their advantage secret because miners are strongly competitive in a very tight market. And doing ASICBoost Covertly was just the ticket, but they could not work post-SegWit. Fortunately, due to the BIP9 activation process, they could hold SegWit hostage while covertly taking advantage of Covert ASICBoost!
UASF: BIP148 and BIP8
When the incompatibility between Covert ASICBoost and SegWit was realized, still, activation of SegWit stalled, and miners were still not openly claiming that ASICBoost was related to non-activation of SegWit. Eventually, a new proposal was created: BIP148. With this rule, 3 months before the end of the SegWit timeout, nodes would reject blocks that did not signal SegWit. Thus, 3 months before SegWit timeout, BIP148 would force activation of SegWit. This proposal was not accepted by Bitcoin Core, due to the shortening of the timeout (it effectively times out 3 months before the initial SegWit timeout). Instead, a fork of Bitcoin Core was created which added the patch to comply with BIP148. This was claimed as a User Activated Soft Fork, UASF, since users could freely download the alternate fork rather than sticking with the developers of Bitcoin Core. Now, BIP148 effectively is just a BIP9 activation, except at its (earlier) timeout, the new rules would be activated anyway (instead of the BIP9-mandated behavior that the upgrade is cancelled at the end of the timeout). BIP148 was actually inspired by the BIP8 proposal (the link here is a historical version; BIP8 has been updated recently, precisely in preparation for Taproot activation). BIP8 is basically BIP9, but at the end of timeout, the softfork is activated anyway rather than cancelled. This removed the ability of miners to hold the softfork hostage. At best, they can delay the activation, but not stop it entirely by holding out as in BIP9. Of course, this implies risk that not all miners have upgraded before activation, leading to possible losses for SPV users, as well as again re-pressuring miners to signal activation, possibly without the miners actually upgrading their software to properly impose the new softfork rules.
BIP91, SegWit2X, and The Aftermath
BIP148 inspired countermeasures, possibly from the Covert ASiCBoost miners, possibly from concerned users who wanted to offer concessions to miners. To this day, the common name for BIP148 - UASF - remains an emotionally-charged rallying cry for parts of the Bitcoin community. One of these was SegWit2X. This was brokered in a deal between some Bitcoin personalities at a conference in New York, and thus part of the so-called "New York Agreement" or NYA, another emotionally-charged acronym. The text of the NYA was basically:
Set up a new activation threshold at 80% signalled at bit 4 (vs bit 1 for SegWit).
When this 80% signalling was reached, miners would require that bit 1 for SegWit be signalled to achive the 95% activation needed for SegWit.
If the bit 4 signalling reached 80%, increase the block weight limit from the SegWit 4000000 to the SegWit2X 8000000, 6 months after bit 1 activation.
The first item above was coded in BIP91. Unfortunately, if you read the BIP91, independently of NYA, you might come to the conclusion that BIP91 was only about lowering the threshold to 80%. In particular, BIP91 never mentions anything about the second point above, it never mentions that bit 4 80% threshold would also signal for a later hardfork increase in weight limit. Because of this, even though there are claims that NYA (SegWit2X) reached 80% dominance, a close reading of BIP91 shows that the 80% dominance was only for SegWit activation, without necessarily a later 2x capacity hardfork (SegWit2X). This ambiguity of bit 4 (NYA says it includes a 2x capacity hardfork, BIP91 says it does not) has continued to be a thorn in blocksize debates later. Economically speaking, Bitcoin futures between SegWit and SegWit2X showed strong economic dominance in favor of SegWit (SegWit2X futures were traded at a fraction in value of SegWit futures: I personally made a tidy but small amount of money betting against SegWit2X in the futures market), so suggesting that NYA achieved 80% dominance even in mining is laughable, but the NYA text that ties bit 4 to SegWit2X still exists. Historically, BIP91 triggered which caused SegWit to activate before the BIP148 shorter timeout. BIP148 proponents continue to hold this day that it was the BIP148 shorter timeout and no-compromises-activate-on-August-1 that made miners flock to BIP91 as a face-saving tactic that actually removed the second clause of NYA. NYA supporters keep pointing to the bit 4 text in the NYA and the historical activation of BIP91 as a failed promise by Bitcoin developers.
We have discussed BIP8: roughly, it has bit and timeout, if 95% of miners signal bit it activates, at the end of timeout it activates. (EDIT: BIP8 has had recent updates: at the end of timeout it can now activate or fail. For the most part, in the below text "BIP8", means BIP8-and-activate-at-timeout, and "BIP9" means BIP8-and-fail-at-timeout) So let's take a look at Modern Softfork Activation!
Modern Softfork Activation
This is a more complex activation method, composed of BIP9 and BIP8 as supcomponents.
First have a 12-month BIP9 (fail at timeout).
If the above fails to activate, have a 6-month discussion period during which users and developers and miners discuss whether to continue to step 3.
Have a 24-month BIP8 (activate at timeout).
The total above is 42 months, if you are counting: 3.5 years worst-case activation. The logic here is that if there are no problems, BIP9 will work just fine anyway. And if there are problems, the 6-month period should weed it out. Finally, miners cannot hold the feature hostage since the 24-month BIP8 period will exist anyway.
PSA: Being Resilient to Upgrades
Software is very birttle. Anyone who has been using software for a long time has experienced something like this:
You hear a new version of your favorite software has a nice new feature.
Excited, you install the new version.
You find that the new version has subtle incompatibilities with your current workflow.
You are sad and downgrade to the older version.
You find out that the new version has changed your files in incompatible ways that the old version cannot work with anymore.
You tearfully reinstall the newer version and figure out how to get your lost productivity now that you have to adapt to a new workflow
If you are a technically-competent user, you might codify your workflow into a bunch of programs. And then you upgrade one of the external pieces of software you are using, and find that it has a subtle incompatibility with your current workflow which is based on a bunch of simple programs you wrote yourself. And if those simple programs are used as the basis of some important production system, you hve just screwed up because you upgraded software on an important production system. And well, one of the issues with new softfork activation is that if not enough people (users and miners) upgrade to the newest Bitcoin software, the security of the new softfork rules are at risk. Upgrading software of any kind is always a risk, and the more software you build on top of the software-being-upgraded, the greater you risk your tower of software collapsing while you change its foundations. So if you have some complex Bitcoin-manipulating system with Bitcoin somewhere at the foundations, consider running two Bitcoin nodes:
One is a "stable-version" Bitcoin node. Once it has synced, set it up to connect=x.x.x.x to the second node below (so that your ISP bandwidth is only spent on the second node). Use this node to run all your software: it's a stable version that you don't change for long periods of time. Enable txiindex, disable pruning, whatever your software needs.
The other is an "always-up-to-date" Bitcoin Node. Keep its stoarge down with pruning (initially sync it off the "stable-version" node). You can't use blocksonly if your "stable-version" node needs to send transactions, but otherwise this "always-up-to-date" Bitcoin node can be kept as a low-resource node, so you can run both nodes in the same machine.
When a new Bitcoin version comes up, you just upgrade the "always-up-to-date" Bitcoin node. This protects you if a future softfork activates, you will only receive valid Bitcoin blocks and transactions. Since this node has nothing running on top of it, it is just a special peer of the "stable-version" node, any software incompatibilities with your system software do not exist. Your "stable-version" Bitcoin node remains the same version until you are ready to actually upgrade this node and are prepared to rewrite most of the software you have running on top of it due to version compatibility problems. When upgrading the "always-up-to-date", you can bring it down safely and then start it later. Your "stable-version" wil keep running, disconnected from the network, but otherwise still available for whatever queries. You do need some system to stop the "always-up-to-date" node if for any reason the "stable-version" goes down (otherwisee if the "always-up-to-date" advances its pruning window past what your "stable-version" has, the "stable-version" cannot sync afterwards), but if you are technically competent enough that you need to do this, you are technically competent enough to write such a trivial monitor program (EDIT: gmax notes you can adjust the pruning window by RPC commands to help with this as well). This recommendation is from gmaxwell on IRC, by the way.
This 6 month old Augur V2 video got me excited. I thought I’d share its value proposition, which I feel is currently being overlooked. If you’ve been in the space for some time, you know what Augur is: a decentralized prediction market and the biggest (in ETH)/earliest ICO on Ethereum. Prediction markets allow for better forecasting by leveraging the power of incentivized wisdom of the crowd. V2 will soon launch with a revamped UI, cheap 0x orders and stablecoin integration. It’s set to become the most accessible, fair and open betting platform out there. What you may not realize is its impact in the Defi space. Each market/prediction/question is represented by a token that can be traded in other Defi apps. This gives it incredible flexibility. Consider these possibilities:
DIY Derivative markets - You want to bet on Covid being a threat to the economy. Unfortunately JPOW’s printer is on and it’s pumping the equities markets. Why not create an Augur market that tracks the number of Covid deaths worldwide? What about betting on unemployment rates?
Sports betting - Betfair, Draftkings, Bet360? What about Augur, a provably fair betting alternative with unlimited liquidity that can’t prevent you from betting or run off with your money? More from Joey Krug here
Augur as an oracle - Understandably, everyone’s been raging about decentralized oracles lately; they’re how we merge blockchain and the real world. Need an oracle? Design your own with Augur, use it in your Dapp later.
Polling and futarchy - Incentivized polling has never been so easy. V2 is positioning itself to become a prime resource for the upcoming US elections this fall. Later versions could even be used to direct policy making by introducing conditional markets. I’ll let 2014 Vitalik explain
Bug bounties and smartcontract insurance - Easily insure yourself against smartcontract bugs or use your white hacker skills and pay yourself by designing your own bug bounties.
This synergetic composability gets incredibly interesting when combined with other Defi legos. How about token sets based on bets between the ratios of active addresses on Ethereum vs Bitcoin? Why not make a Uniswap pair between a Real-T token and a bet against Detroit real-estate to hedge your position and gain transaction fees on the side? Tokenomics With growing interest over new Defi tokens, REP will no doubt position itself among the top. It’s one of the few that actually benefits from using a blockchain and has a utility that isn’t just governance related. Staked REP consensus is used to validate markets and collect fees in the process. We’ve seen most successful Defi tokens pick up steam, especially in the past month, as mirrored by their sharp price increases: BNT +200%, KNC +90%, LEND + 70%, MKR +60%, LRC +140%. Augur V1 markets aren’t being used right now since the long awaited V2 is just around the corner. The repeated additional delays in V2’s launch date have kept its price comparatively low. With that in mind, if one believes in the team’s ability to deliver and for Defi to continue growing, REP seems to be an extremely strong long term play. Whether you're a token holder or not, you'll likely see its contribution in many spheres of the Defi world. The above examples only scratch the surface of what it enables. Disclaimer - I own some REP For more info: Augur V2 WhitepaperFinal pre-launch tasksThe Augur Edge by pacific_Oc3an
To all the Bitcoin enthusiast that visit this sub recently
I used to be like you, thinking that there is actually a reason for Bitcoin to have a value. Bragging about its price when it was up. It's an intoxicating feeling, isn't it. I bought Bitcoins in 2013, living through the bubble of 2017 was thrilling, I was dreaming about the price getting up to millions. Nobody can truly understand that feeling when he doesn't live through it. But I sobered up and sold most of them in 2017/2018. After a few years of owning them, I realize that they have no value for me, other than their price. It was the best decision for me. There is no value in BTC overall, it is just a bunch of people who think they can outsmart others and get rich. You know what pushes the price up? Demand? I truly doubt it, this market is very vulnerable to manipulation, the next "halving" is just an excuse for pumping the price up. You bought the "market knows best" nonsense, quite the opposite is right. You actually can make money out of Bitcoin, the same way if you had bought a storage house of toilet paper before the pandemic, therefore by pure speculation. Bitcoin is not an investment, it is a gamble. Ask yourself, is there anything that Bitcoin provides that has a demand in the market. Payment? My debit card is much faster and free of charges. Storage of value? My investment in stock and bonds is much more stable and doesn't get eaten up by inflation like cash. Illegal activities? I would not bet on that one, indeed, everyone can see you activities in the blockchain, it is the perfect record for all the things you ever bought with bitcoins. It is anonymous, as long nobody links you with certain addresses, which can be easily done when someone gains access to your computer. Also, remember that most Bitcoin brokers demand full identification, they can easily make these links.
$100 worth of bitcoin with a $200 deposit of any cryptocurrency at blockfi.
This isn't a referral, but thought I had to tell you all. Blockfi have a halving offer where you receive $100 of BTC for a $200 deposit of any currency at blockfi, including stablecoins. Think you might have to leave it there for a month but clearly worth it. Way better than the $15 I got last week. Link here: https://try.blockfi.com/bitcoin-halving-promo/ EDIT: I thought it would be a good idea to point out some of the ways you can 'double up' with this promotion - AKA getting a bonus on your deposit as well as the $100 BTC. I am not too sure on whether or not you have to do $200 in a single transaction, but I would to be safe. Crypto.com - $50 from a 50MCO stake (~$250). ref | nonref
Use code f6ssgwxujd if prompted!
Crypto.com is my favourite service for crypto purchasing, currently with no fee. With them, you can buy stablecoin with cash and then transfer it directly to blockfi and it works very smoothly. With the ref link above, it unlocks a $50 reward when you decide to stake 50MCO, and becomes available immediately. This also gives you benefits such as cashback and free spotify/netflix, depending on your tier. I'd personally sign up through a ref link just incase you ever decide to stake MCO.
This is possibly the easiest site to buy crypto on. They will give you a £10 BTC Bonus when you buy £100 in BTC. Tiny fees and you can buy the BTC and they will deposit them into your Blockfi account for you. You could send the $200 all through this and then you will receive a code for the bonus.
Probably your safest bet with regard to crypto. Simply buy your crypto through the app and you'll get a bonus, and then can easily send to blockfi. Again i'd recommend doing the $200 transfer all at once to avoid the risk.
$5 from $100, plus another $5 for using their card
You get a $5 bonus from Wirex when you sign up and purchase $100 of Crypto, and their service is low-fee. I wouldn't bother with the card personally, there's a £1 a month fee which to me doesn't seem worth it when Crypto.com exists.
EDIT 2: clarification on deposit from u/smokey-12 Update for everyone, I asked about the $200 balance in the terms. They have basically said even if the value falls below the $200 you will still get the bonus, it's based on what you deposited. "No, we will capture the value at the time of the deposit and will credit you accordingly. As long as you satisfied the terms and conditions at the time that you deposited and hold those same funds for the term length."
"The Network Effect is King" - What I have learned after 3 years in crypto (Part 3)
This post is the third post of mine on things I've learned in the 3 years I have been in crypto. So far I have only posted them in the EthFinance daily since I didn't think they were worthy of dedicated posts but I have since figured I may as well post one here and see what you all think. Links to the first two posts are at the bottom. Here’s part 3 of my thoughts and what I have learned after 3 years in the crypto space. Enough with the embarrassing stories for now. Today I’m going to talk about one of the most fundamental rules in emerging technologies. It is very simple and goes as follows.
The network effect is king.
I cannot emphasise this enough. Coming into the crypto space I was already aware of the network effect. Just incase anyone here is unaware of the network effect, some dictionary app built into my MacBook defines the network effect as a phenomenon whereby a product or service gains additional value as more people use it. It’s why everyone uses Facebook Messenger or WhatsApp despite the incredibly invasive data tracking and despite the existence of private, secure, end to end encrypted alternatives such as Signal or Wire which are just as easy to use. Nobody wants to be “that guy” who makes their friends sign up to a new service just to stay in touch with each other (for the sake of helping people take online privacy more seriously, please be “that guy”, I will love you long time). The fact that you can join and have all of your friends already there in the app ready to interact with gives these platforms more value than other platforms which are fundamentally better. Unsurprisingly, crypto is no different. It’s why Bitcoin is still #1. The vast majority of people in crypto have a Bitcoin wallet and most people on the street have heard of Bitcoin even if they don’t know what it is. So if your store wants to accept Bitcoin or your website wants to accept donations, Bitcoin is the most obvious go to since most people will recognise the Bitcoin logo and anyone who owns crypto will almost certainly own some Bitcoin. However, if you display an ETH address, only those who truly delved deep into crypto and understand the advantages of Ethereum will have an Ethereum wallet. Just like how only the more privacy conscious individuals will have heard of or use Signal or Wire for messaging apps. Now here is where the network effect is important for us. As everyone in this sub should know, Ethereum is a turing complete ‘world computer’ whereas Bitcoin is strictly a payment network or digital store of value depending on who you ask. This clearly indicates that Ethereum’s potential market is much larger that Bitcoin’s since it can do what Bitcoin does and has dozens of other use cases like being a global settlement layer, tokenisation of digital and real world assets, insurance, supply chain tracking etc etc. The list goes on. Most importantly, in the field of this ‘world computer’ ultimate use case for blockchain which Ethereum is chasing after, Ethereum has by far the largest network effect.
At the time of writing this, Ethereum’s market cap ($26B) is more than 10x larger than its next largest competitor, EOS ($2.5B).
So what will it take for one of the many Ethereum killers to flip Ethereum? If you ask me, Ethereum’s head start is so large that even if the Ethereum ecosystem were to tear itself apart over a contentious hard fork I still wouldn’t be betting on a competitor to flip Ethereum’s largest fork unless we start to see some real adoption and infrastructure such as DeFi on these ETH killer chains. Ethereum being flipped seems about as plausible as Signal flipping WhatsApp. It’s pretty much a pipe dream. But what about Bitcoin then? Does this mean that Ethereum will never flip Bitcoin either? No, of course not. In fact, Ethereum has already flipped Bitcoin in terms of daily value transfer on the network thanks to stablecoins. As previously mentioned, Ethereum has a larger market to fill, so assuming the success of both Bitcoin and Ethereum, the flippening is almost inevitable. Like smart phones flipping basic mobile phones, it may take a while bit it will happen. It will take more time than many of us expected back in 2017. As mentioned at the beginning, this is part 3 of a series of posts I will be making. You can find part one and part two here.
AMA AT DETECTIVE ID (25/06/2020) Before welcoming any questions, I would like to briefly introduce STATERA PROJECT. Statera is a smart contract deflationary token pegged to a cryptocurrency index fund. By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced fund. Lastly the deflationary mechanics of STA increases the chance for positive price action while decreasing beta (volatility). This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by a third party code audit through Hacken. Q1 : please explain in more detail about Statera, what is the background of this project? and when was it established? The dev of this project had previously created another deflationary token BURN. When the Balancer Labs released the Balancer Protocol, he had an idea to combine the two, deflationary token and a pool of tokens, making the first deflationary index fund. It started in the end of May and on the 3rd iteration, May 29th - a trustless version was launched that we see today. As briefly explained earlier, STATERA or STA is an Index Deflationary Token built on Ethereum blockchain; Index: Contains a token suite of world class leading crypto assests BTC, ETH, LINK, SNX with STA. Deflationary: On every transaction of STA 1% of the transacted amount is sent to 0x address on ethereum, burned forever, thus reducing the circulating supply of STA Index+Deflationary: STA is mixed with BTC, ETH, LINK SNX in a portfolio, backed by liquidity on a protocol known as balancer (balancer.finance) This platform serves as a market maker for the token suit. The Index suite is of equal rate of 20%, that is 20% of BTC, ETH, SNX LINK and STA, Thus, anytime there is an increase in value of any of those coins or tokens, balancer automatically trade them for STA in order to keep the token suit ratio balanced. And anytime there is an increase in the value of STA, the same process applies. while doing this trade, it enables further burning on every transaction, thus facilitating more token scarcity. In addition to this, Statera was deployed with contract finalised, that is, the index suite can not be altered, It is completely out of Dev's control. Q2 : What are the achievements that have been obtained by Statera in 2020? And what goals do you want to achieve in 2020? By this we assume the questionnaire is asking for a roadmap! First, the project is barely a month old, and within just a month, our liquidity has grown from $50,000 to over $400,000 currently above $300,000. Among the things we have accomplished so far is the creation of market value for STA's Balancer liquidity pool token BPT, which is currently over $1000 per one BPT. Regarding what we set to achieve: The future is filled with many opportunities and potentials, currently, we are working on a massive campaign to introduce our product to the outside world. We have already made contact with different and reputable forums and channels regarding marketing and advertisement offers, some which we are currently negotiating, some which we are awaiting response. All we can say for now is that the Team is working hard to make this the Investment opportunity every crypto enthusiast has been waiting for. Statera has the goal of putting cryptocurrency into every portfolio. We believe we have a product that increases the returns of investing in cryptocurrencies and makes it easier to diversify in this space. We have done so much in June: articles, how to videos, completed the audit, tech upgrades like one token liquidity additions, and beginning our many social communities. We have been hard at work behind the scenes but things like sponsorships, features, and media take time, content makers need days if not weeks to develop content, especially the best of the best. We are working tirelessly, we will not disappoint. We have plans for 2020-2025 and will release those in the next month. They are big and bold, you’re going to be impressed by the scale of our vision, when we say “Cryptocurrency in every portfolio” we mean it. In 2020 more specifically we are focused on more media, videos, product offerings, and exchanges. Q3 : What is the purpose of STA token? How can we get STA? The purpose of STA is an investment in the first deflationary index fund. The whole index's value rises from these aspects: 1. The index funds (WBTC,WETH,SNX,LINK) appreciate in value 2. When the index tokens are traded, the pool receives transaction fees - 1% 3. STA burns on transactions, so it's deflationary nature increases its value as the total supply drops 4. Balancer rewards Index holders with BAL token airdrops every week You can invest via the 'Trade' links in stateraproject.com website. Easiest way is to do it using ETH. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit. Q4 : can we as a user do STA mining? The supply of STA doesn't increase anymore, it only decreases due to the burn feature. So there is no way to mine anymore STA. Only way to acquire the tokens is via an exchange. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit. Q5 : The ecosystem of a public chain has a lot to do with the level of engagement and participation of third-party developers. How does Statera support the developers? Not really. Our project is focusing on investment opportunities for the cryptocurrencies. The cryptocurrency tokens that are not used and are just sitting in a wallet can work for you by being added to an index fund and appreciate in value over time. First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem. in addition, Statera is a fully community project now. Paul who is the current team leader was an ordinary member of the community weeks ago, due to his interest and support for the project, he started dedicating his time to the project. Quite a number of community members are also in the same position, while Statera was developed by an individual, it is being built by the entire Statera community Community Questions (Twitter): Q1 From: @KazimKara35 The project tells us that the acquisition and sale of data between participants is protected by code of conduct and how safe is deployed on the blockchain, but how do you handle regulations while operating on a global scale? Statera is decentralized token, similar to other utility crypto tokens and same regulations apply to it as others. his is actually a benefit of our decentralized nature. This isn’t legal advice, however in the past regulating bodies have ruled that the more decentralized a project is, especially from launch, the less likely they are to be deemed a security (see: Ethereum). This means they can be traded more freely and be available on more platforms. We are as decentralized as you can be. The data itself is all secured through the blockchain which has been shown to be a highly secure medium. We do not store any of your data and as long as you follow best practices in blockchain security there are no added security risks of using Statera. We don’t, and literally can’t, hold anymore personal information than is made available in any blockchain transaction. and that "personal information" is more likely than not just your ethereum wallet address, no "real world" data is included in transactions Q2 from: @Michael_NGT353 What is Mechanism you use On your Project sir? Are you Use PoS,PoW or other Mechanism Can you explain why you use it and what is Make it Different? Our token is an ERC-20 token and it's running on the Ethereum blockchain. The Ethereum's POW mechanism is currently supporting the Statera token We run on Ethereum, so we are currently PoW. With ETH 2.0 we will hopefully be PoS this year (hopefully). We use it because ETH has over 100 million addresses and around a million daily transactions. We are currently at about 1,900 token holders, we are just touching the edge of what is possible in this market. We chose the biggest and the best network available right now to launch our product. We think the upside is huge because of this choice. Being the biggest network it is also one of the most secure, no high risk vulnerabilities have been found in Ethereum or in our code (we've had our code audited by a third party, Hacken, and you can read their audit on our Medium page), so we also have security on our side Q3 From : @Ryaaan_Nguyen Can you list some of Statera outstanding features for everyone here to know about? What are the products that Statera is focusing on developing? As mentioned earlier by GC, First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? We touched on this a bit in the question on what makes us special compared to other exchanges. We have created a product that synergizes with Balancer Pools creating a symbiotic relationship that improves the outcomes for users (our product can also synergize with future DeFi products). By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced portfolio (like an index fund with dividends). Lastly, the deflationary mechanics of STA increases the chance for positive price action while decreasing beta. We want to package Statera with assets across the whole cryptocurrency space, with an emphasis on DeFi. We also want everyday people to be able to invest quickly in crypto while also feeling reassured their investment is set up to succeed. We are focused on developing a name brand that people go to first and foremost when investing in crypto: cryptocurrency in every portfolio. This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by the third party code audit. This is a feature in and of itself, some argue that Bitcoin’s true value is in it’s network effect, first mover advantage, and immutability. Statera is modeled on all three of those and has those features in spades. The community now owns our token, the power in that, giving finance and power to the people, is why we are here. Q4 From : @futcek What do you think about the possibility of creating new use cases in DeFi space for existing real world assets by using crypto technology? What role do you see in this creation for Statera? I think my answer above actually answers this perfectly, Statera in and of itself is a “new use case”, a “deflationary index fund” has never existed, I’ll copy and paste the other relevant part: “With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem.” Statera is a way to make your investment more successful, and owning Statera let's you benefit from other people using it to make their investments more successful (a self feeding cycle). Q5 From : @Carmenzamorag Statera's deflationary system is based in that with every transaction 1% of the amount is destroyed, would this lead to lack of supply and liquidity in the long term future? How would that be fixed? The curve of supply is asymptote, meaning that it will never reach zero. The idea is that the deflationary process will slowly decrease the supply of STA, which – combined with a fixed or increaseing demand – will result in STA appreciating in value. Evidently, as the STA token increases in value, the amounts of STA being traded will slowly decrease: The typical investor might buy 10.000 STA at the current rate, but in the future (proportional to an increase in the valueation of STA) this number will tend to decrease, hence the future investor might only buy 1000 STA. This of course results in less STA being burned. Additionally, STA is divisible to the 18th decimal, why – even if the supply was to reach 1 STA – there would be a sufficient supply. Well this would be a question for a Mathematician, and luckily we’re loaded with them (as seen above)! I’ll try to illustrate with an example. 1% of 100 million is 1 million, 1% of 10 million is 100,000. As we go down in supply the burn is less by volume. What also happens at lower supply is higher prices (supply and demand economics). So those 1 million tokens burned may be worth $20,000, but by the time overall supply is at 10 million those 100,000 tokens may also be worth $20,000 or even more. This means you transact “less”, if you want to buy 1 Ether now with Statera you need 8,900 STA which would burn 89 tokens. If Statera is worth $100 you only need 2.32 statera (.023 tokens burned). Along with this proportional and relative burn decrease, tokens are 18 decimals long, so even when we get to 1 token left (which mathematically would take decades if not centuries, but that is wholly dependent on usage), you are still left with 10 to the 18th power, or one quintillion “tokens”. So it’s going to take us a while to have supply issues :) Nuked Phase (3rd Part) Q) What is your VISION and Mission? Our working mission and vision: Mission: Provide every investor with simple and effective ways to invest in cryptocurrency. Decrease volatility and increase positive price pressure in cryptocurrency investments. Lower the barrier to entry for more advanced investment tools. Be a community focused and community driven cryptocurrency, fully decentralized by every meaning of the word. Vision: We aspire to put “cryptocurrency in every portfolio”. We envision a world where finance is given back to the people and wealth building strategies withheld only for affluent individuals are given to all. We also strive to create an investment environment based on sound monetary policy and all the power that comes with a sound asset. Q) What are the benefits of STA for its investors in long term? Does STA have Afrika as an important area for its expansion? We have ties to Africa and see Statera as a way for anyone and everyone to invest in cryptocurrency. The small marketcap of statera makes it's price low and it's upside massive. Right now if you wanted to be exposed to the price action of four cryptocurrencies (BTC, ETH, Link, SNX) Statera is a way to gain that exposure in a way that has a huge upside, compared to the other four assets, there are risks in investing in any small cap but with those risk come outsized rewards (not investment advice and all answers are solely my opinions 😊) Q) In the long run, why should we trust and follow STATERA? How do you raise awareness and elimination of the doubts of investors / partners / customers?. You're really asking "How do I trust myself and other crypto investors" The project is FULLY decentralized, it is now in the hands of the community. We would venture a guess that the community wants their investment to succeed and be worth more in the future, so you are betting on people. wanting to make themselves money on their own investment. This is a pretty sure bet. The community being active and engaged is key, and we have short term and long term plans to ensure this happens Q) No one can doubt the strength of #Statera. But can you tell us some of the challenges and difficulties you're presently facing? How can you possibly overcome them? We're swinging outside our weightclass, we don't see litecoin or SNX, or any other crypto product as our competition. Our competition is NASDAQ, Fidelity, etc. We want to provide world class financial instruments that only the wealthy have access to in the traditional world to everyone. Providing liquidity, risk parity, being paid to provide liquidity, unique value propositions, are all things we want to bring to everyone. However we are coming up in a hectic space, everyday their is fud and defamation on the web, but that is the sandbox we chose to play in and we aren't grabbing our ball and going home. We can tell you that we will not disappoint and fighting all the fud that comes along with being a small and upstart project only fuel our fire. Building legitimacy is our largest challenge and looking at our audit, financial report, and some things you will see in the coming weeks, we hope you see we are facing those challenges head on. Q) What is the actual uniqueness of #Statera.??? Can you guys please explain tha advantages of #Statera over other projects.?? When we launched there were no other products like ours. There are now copies, and we wish them the best, but we have the best product, hands down. Over the next couple weeks this will become apparent, if it hasn't already, also a lot of the AMA answers dug deeper into our unique value proposition, especially the benefits we provide to Balancer Pools which shows the benefits we would provide for any index fund. We are a tool to improve cryptocurrency investing Q) Fragmentation, layering and cross-chain are three future solutions for high-performance blockchains. Where is Statera currently? What are the main reasons for taking this direction? We operate on the Ethereum chain, as it upgrades our services and usability will upgrade. We are working on UI and more user friendly systems to onboard people into our ecosystem Q) How STATERA plan to make room and make this project known in the world of crypto, full of technology and full of new projects very good in today's market? We think we have a truly innovative product, which - when first understood - appeals to most investors. Whether you want a high-volatility/medium-risk token like STA or whether you are more conservative and simply just plan on adding to the Statera pool BPT (which is not nearly as volatile but still offers great returns). We plan on making Statera known to the crypto world through a marketing campaign which slowly will be unravelled in the comming days and weeks. If interested, you can check out an analysis of the different investment options in the Statera ecosystem in our first financial report: https://medium.com/@stateraproject/statera-financial-reports-b47defb58a18 Q) Hello, cryptocurrencies are very volatile and follow bitcoin ... and does this apply to Statera? or is there some other logic present in some way? is statera token different from a current token? Are you working on listings on other exchanges? Currently uniswap is somewhat uncomfortable for fees. We are also on bamboo relay, saturn network, and mesa. Statera will be volatile like all cryptocurrency, this is a small and nascent space. But with the deflationary mechanic and balancer pool, over time, as marketcap grows it will become less volatile and more positively reactive to price. Q) Security is one of the most essential characteristics for a project to get reputation. How can #Statera Team assure to their community that users assets and investments will stay safe from unwanted agents? We have been third party audited by the same company that worked with VeChain to audit their code. Our code has been shown to be bulletproof. Unless Ethereum comes up with a fatal security flaw there is nothing that can happen to our contract (there is no backdoor, no way for anyone to edit or adjust the smart contract). Q) Many investors see the project from the price of the coin. Can you give us advantages why Statera is so suitable for long-term investment? and what makes Statera different from other similar projects? Sometimes the simplest solutions are the most effective. A question you can ask is “What if this fails”? But you can also ask, “What if this succeeds”? Cryptocurrency is filled with asymmetric risks, we think if you look into the value proposition you will find that there is a huge asymmetric risk/reward in Statera, and we will make that even clearer in our soon to be released litepaper. You are on the ground floor of a simple but highly effective solution to onboarding people into defi, cryptocurrencies, and investing. Our product reduces volatility and increases gains (decreases beta and increases alpha in investor terms), which is highly attractive in any investment. The down side is there but the upside outweighs it exponentially (asymmetric risk) Q) What your plans in place for global expansion, are Statera focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this? We have reached out to influencers in other countries and things are in the works. We have also translated documents and are working on having them in at least 4 languages by the end of July. We were founded globally, our team is global, and we are focused on reaching all 7 billion people. Q) Now in the cryptofield everyday there are new projects joining in the Blockchain space. They are upgraded, Well-established and coming up with innovative technology. How Statera going to compete with them? What do you think, one day Statera will become useless And will be lost into the abyss of time for not bringing any new technology? We are the first of our kind, no one had a deflationary index fund before us. Index funds will be the future of crypto (look at the popularity of etfs and indexes in the traditional markets). We are a tool to make your index function better and pay you more. As long as people care about crypto index funds they will care about the value STA brings to that. We have an involved and long term plan to reach dominance over a 5 year span, this is not a flash in the pan, big things coming Q1. You say that the weight and proportions of your tokens are constant. So how have you managed to prevent market price speculation from generating hypervolability in your token price? Do you consider yourselves a kind of stablecoin? Q2. How many jurisdictions allow the use of Stratera products and services? Are they available for Latin America? @joloroeowo The balancer ensures an equal ratio of 20% amongst the five tokens included in our fund. This, however, does not imply that the tokens are stable. Rather, the Balancer protocol helps mitigating price fluctuations. Q) How can I as a Statera participant participate in liquidity mining, and receive BAL as reward? What are the use cases of $STA token, and how are users motivated to buy and hold long term? The easiest way is to go to stateratoken.com and click trade then BPT. You can also buy all five tokens and click on portfolio then add liquidity. Balancer is working on a simpler interface to add liquidity with one token, we are waiting on them. I think we explained the use cases above Q) What do you plan have for global expansion, is Statera currently focused solely on the market? Or is it focused on building and developing or acquiring customer and user or partnership relationships? Can you explain it? We are currently working on promoting the project and further develope our product, making it lucrative for more new investors to join our pool and invest in the STA token. Q1) Statera have 2 types of tokens, so can you tell me the differences between STA and STAC ? What are their uses cases? Is possible Swap between them? Q2) Currently the only possible Swap or "exchange" possible is Uniswap, so you do have plans to list the STA token into a more Exchanges? STAC is obsolete, we only have STA and BPT (go to our website and click on trade) stateratoken.com BPT gives you more diversification and less risk, STA gives you more volatility and more chance for big gains. Q2 we are on multiple exchanges (4), bamboo relay, saturn, and mesa we do have plans for future exchanges but the big ones have processes and hoops to jump through that can't be done so quickly Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future? Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product Q) Do you plan to migrate to other platforms like Tron, BinanceChain, EOS, etc. if it is feasible?? Migrating our current contract is not. Starting new offerings on those other chains could be possible, they aren't on our radar currently but if the community requests them we are driven by our community Q) ETH Blockchain is a Blockchain have many token based in it, i have used ETH blockchain long time and i see it have big fee and need much time to make a transcation so Why you choose to based STA in ETH blockchain not other like Bep2 or Trc20 ? Simply: 100 million addresses, 1 million transactions a day. The more users we have the more we will benefit our community. We hope ETH 2.0 scaling will fix the problems you mention. Q) No one achieve anything of value on its own, please can you share about Statera present and future partnerships that will drive you to success in this highly congested crypto space? We have a unique product that no one else has (there are people who have copied us). We can't announce our current and future partnerships yet, but they will be released soon. Our future hopes of partnerships are big and will be key to our future, know we are focused on making big partnerships, some you may not even be thinking about. Q) According to the fact that your algorithm causes 1% of each transaction to be destroyed, I would like to know, then, how you plan to finance yourself as a project in the long term? The project is now in the hands of the community and we are a team of passionate people volunteering to help promote and develope the Statera ecosystem. But then, how do we afford running a promo campaign? We have lots of great community members donating funds that goes to promoting the project. In other words, the community helps financing the project. And so far, we have created a fantastic community consisting of passionate and well-educated people! Q) There are many cryptocurrency startups were established by talent teams, but they got problem in raising capital via token sales due to many factors as bear market, bankrupt etc. This leaded their potential startups fail. So how will Statera break these barriers and attract more funds from outside crypto space? We are community focused and community ran. When you look at centralized cryptocurrencies you can see the negative of them (Tron, ADA, etc.) We believe being fully decentralized is the true power position. You the owner of statera can affect our future and must affect our future. This direct ownership means people need to mobilize and organize to push us forward, and it is in their best self interest to do so. It's a bet on our community, we're excited about that bet Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future? Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product Q) Why being a hybrid of a liquidity pool and an index fund? What are the main benefits about this? By being a liquidity pool the exchange side of the pool (balancer also functions as an exchange) gives you added liquidity for more effortless, effective, and cheaper rebalancing. You also benefit from getting paid the fee when people use the exchange AND getting paid BAL tokens that are worth $15-20 USD. These are not benefits you get with an index fund, meanwhile the liquidity pool rebalances just like an index fund would Q) Which specific about technology and strategy of #STA that make you believe it will be successful and what does #STA plan do to attract more users in the upcoming time? I think the idea behind Statera is truly ingenious. We have made an index fund, which investors are highly(!) incentivised to invest in, namely because the ROI, so far, has been huge. An increase in the pool liquidity (index fund) indirectly translates into an increase in the price of STA, why we think the STA token - combined with its deflationary nature - will increase in the long run. The mechanism behind this is somewhat complex, but to better get an understanding of it, I suggest you visit our medium page and read more about the project: https://medium.com/@stateraproject
What is your personal financial strategy and vision of Gridcoin?
I started the 2020 year by totally ignoring what is a blockchain, or a cryptocoin. And once I started Qwant-ing (alt Google) it, it was a matter of a few days that I learned how to CPU and GPU mine. I even got a SHA-256 ASIC warming up my flat. Of course, the more I learned about Bitcoin and other PoW coins, the worse I was feeling about the incredible waste of energy with such useless hashes and the consequences of the greedy speculation against the "smaller" coins. So I got rid of the ASIC and while looking at the web for alternative coins using PoS or similar, I found this project, in which I really get identified. Now I'm a happy math and astronomy cruncher. It's just amazing, to be crunching and at the same time, getting rewarded. There are plenty of things to contribute to this project, and I feel really motivated to get further involved into it. Now my question concerns the "money" side, the financial stuff. Of course Gridcoin is not Bitcoin, although it seems that Gridcoin has a long story behind. I see potential, mostly due to the very active community, the increasing interest in Distributed Computing (and thus the eventual popularity of the Proof-of-Research concept) and the "seriousness" of this project. But the perpetual inflation and the apparent lack of significant volume exchanges might underestimate its value, strictly speaking of the markets dynamics. The growing scarcity and popularity of the mainstream coins might also be pushing this coin out of the radar of most of the people, explaining the actual stagnancy of the GRC market. And so, here is where I ask to you: what is your vision of Gridcoin? Do you (personally) bet everything for this project, in terms of investments (GRC-only wallets) and computational resources? Or do you diversify your portfolios, speculating as well in another cryptos/stocks? I'd really like to hear from you, to know if you're interested (or not) in the money side of the project, and, for the affirmative case, to know why you're here and why you want to stay here. Thank you for your attention and your feedback!
edit - I came up with a far better title: Why I YOLO on LLOY I have held my Vanguard for three years and since then had read a few books (albeit badly) that inspired me to take some risks: Armchair economist, Freakonomics, Thinking Fast Thinking Slow, 80/20 Principle, Algebra of Happiness, Smarter Investing, somewhat through Intelligent Investor but it's a slow read. I had never experienced picking individuals and foolishly it was something which I wanted badly enough to open with AJBell this FY. Tbh I regret it so if you're already happy with your Vanguard offerings then I can't say I'm happy to own individual picks now. Hopefully I'll get onto the psychology of why later. So why did I pick LLOY? I'm not going to say that I'm ecstatic about it. It was painful to push the button on it. I am extremely bearish (in life not just investing!), this comes from being a millennial, and I am certain that there is a government/company waiting just around the corner to overcharge me for goods and services. I did do some quick maths from the tiny fraction my pea brain gleamed from Intelligent Investor: Assets - 1065.871bn Liabilities - 1000.070bn Long Term Debt - 143.312bn 1065.871 - (1000.070 + 143.312) = 1065.871 - 1143.382 = -77.511 Lloyds really doesn’t appear to be a good buy. But I did so anyway… Somewhat probably from thing's I've not fully understood from Intelligent Investor! Banks are out of favour. They have been out of fashion as long as I can remember.
The financial crisis. The government bailout, which when you look at it now has Barclays comment of 'never took a Govt. bailout' isn't as good after learning that LLOY bought HBOS after being strong-armed by the Govt. for them to learn that there was some weird accounting going on.
PPI Scandal - no idea how this got so out of control. It was an amazingly American style campaign that went on as far as reclaiming it went. It very much reminded me of when I was a child and would forever see compo ads on the telly.
The FinTech new banks. I have nothing bad to say about this bunch I love them, they are doing the lords work. The industry definitely needs shaking up, I remember the days where my banking app mandated a different keyboard from my Android phone for security purposes, fantastic way to 1. freak people out and 2. ruin the usability of your application. The innovation of usability and access which these FinTech's bring is fantastic. But I'm not going to take a loan out with them, my parents aren't going to be able to take a mortgage out with them, and my parents definitely won't get an account over and above their brick banks. When switching becomes even more effortless nobody will probably be with the same bank for more than a year.
Go on why did you buy it despite all this then? Intelligent Investors advice when looking for value is to find companies which are out of fashion but still adequately ran (probably a better word there for adequately). This isn't the 2008 financial crisis - we aren't in this mess because the Banks released a deadly virus. But that doesn’t mean that LLOY wasn't heading for failure before this. The stock was performing badly before this storm. The profits we're lower than expected but they had the PPI bill to pay. The bank is led by António Horta-Osório - he has led the bank since 2011, nearly 10 years of service. He even took time off for his mental health before it was cool to do so! They're even reducing their emissions by 50% by 2020. Forget Elon, this guy is as fellow kids as they come. I'm not worried about the FinTech's yet. I have a few fintech accounts and they're great. I rolled out my joint account in a few clicks. I use it for all my spending. One thing which I think the FinTechs will do better with is getting extremely rich data on their customers spending habits and will therefore be able to sell this to aggregators for a higher price. LLOY have a £3bn digital transformation project which should be completing next year, we'll have to see what they have come up with. (you can tell I started to give up here) LLOY is the leader in the Mortgage market. They even have the Tesco portfolio! Should the country not be able to afford their mortgage bill, I just can't see the government letting it all go. They helped fund this BTL nation through their mortgage interest write offs at the time when rental yields were far higher and so were interest rates! There won't be anyone around to buy the repossessions, all the elderly are dead from Corona, and the youth don’t have any money to buy the houses. I don't think prices can go down to the point at which GenX/Mil can pay for them regardless. The next Govt. handout I can see is an enforced mortgage readjustment by the Govt. to the lenders for as long as borrowers need. There is probably far more which might back this up, but that doesn’t matter because the answer is that this was a risky buy, I have no doubt there is 10 fold more rationale behind not buying this. Just look at the guy the other day who was selling his WH, 200% what a lucky sole, their website was absolute garbage in a time when everyone is betting online! Anyway finally, the psychology behind why I should have stayed with VG. There are no purchase fees! When I buy through AJ and I see that there is a £10 dealing fee I feel a loss. This is mentioned heavily in investment books but I want to talk about the psychology behind it. In Thinking Fast Thinking Slow there is lots of talk about how we as humans react to loss, there are lots of studies mentioned in the book and it is fascinating. The essential take-home point here is that we as humans see loss completely different to gains. You can feel ecstatic finding £5 on the floor but feel a huge sense of dread when a scooter taxi rips you off by £5 in Vietnam and you think about it for the rest of your life! If you can gleam one thing from the Bitcoin culture its HODL!
Alright guys, Ive been working on this for a while and a post on here by a guy describing his portfolio here was the final kick in the ass for me to put this together. I started writing this to summarize what Im doing for my friends who are beginners, and also for me to make some sense of it for myself Hopefully parts of it are useful to you, and also ideally you guys can point out errors or have a suggestion or two. I'm posting this here as opposed to investing or canadianinvestor (blech) because they're just gonna tell me to buy an index fund. This first section is a preamble describing the Canadian tax situation and why Im doing things the way that I am. Feel free to skip it if you dont care about that. Also, there might be mistake regarding what the laws are here so dont take my word for it and verify it for yourself please. So here in Canada we have two types of registered accounts (theres actually more but whatver). There is the TFSA "Tax Free Savings Account", and RRSP "Registered Retirement Savings Account" For the sake of simplicity, from the time you turn 18 you are allowed to deposit 5k (it changes year to year based on inflation etc)in each of them. That "room" accumulates retroactively, so if you haventdone anything and are starting today and you are 30 you have around 60k you can put in each of them. The prevailing wisdom is that you should max out the TFSA first and you'll see why in a minute. TFSA is post tax deposits, with no capital gains or other taxes applied to selling your securities, dividends or anything else. You can withdraw your gains at any time, and the amount that you withdraw is added to the "room" you have for the next year. So lets say I maxed out my TFSA contributions and I take out 20k today, on January of next year I can put back in 20k plus the 5 or whatever they allow for that year. You can see how powerful this is. Theres a few limitations on what is eligable to be held in the TFSA such as bitcoin/bitcoin ETFs, overseas stocks that arent listed on NYSE, TSX, london and a few others. You can Buy to Open and Sell to Close call and put options as well as write Covered Calls. The RRSP is pre-tax deposits and is a tax deferred scheme. You deposit to lower your income tax burden (and hopefully drop below a bracket) but once you retire you will be taxed on anything you pull out. Withdrawing early has huge penalties and isnt recommended. You are however allowed to borrow against it for a down payment as a first time home buyer. The strategy with these is that a youngperson entering the workforce is likely to be in a fairly low tax bracket and (hopefully) earns more money as they get older and more skilled so the RRSP has more value the greater your pre-taxincome is. You can also do this Self Directed. Its not relevant to this strategy but I included it for the sake of context. Non registered accounts ( or any other situation, such as selling commercial real estate etc) is subject to a capital gains tax. In so far as I understand it, you add all your gains and losses up at the end of the year. If its a positive number, you cut that number IN HALF and add it to your regular pre-tax income. So if I made 60k from the dayjob and 20k on my margin account that adds up to 70k that I get taxed on. if its a loss, you carry that forward into the next year. Theres no distinction between long term and short term. Also physical PMs are treated differently and I'll fill that part in later once I have the details down. The reason why all that babble is important is that my broker Questrade, which isnt as good as IB (the only real other option up here as far as Im aware) has one amazing feature that no other broker has: "Margin Power" If you have a TFSA and a Margin account with them, you can link them together and have your securities in the TFSA collateralise your Margin account. Essentially, when it comes to the Maintenance Excess of the Margin Account QT doesnt care if its in the TFSA *or* the Margin! You can see how powerful this is. ------------------------------------------------------------------------------------------------------------------------------------------------ So as you can tell by the title, a lot of this is heavily inspired by Chris Cole's paper "The Allegory of the Hawk and the Serpent". You can read it here: https://www.artemiscm.com/welcome#research Between it, his interviews and my mediocre options skills at the time my mind was blown. Unfortunately I didnt know how to do the Long Volatility part until after the crash in March but I've since then had nothing but time to scour the internet and learn as much as I could. The way I interpret this isnt necessarily "what you should have right now", but what abstracted model they were able to backtest that gave them the best performance over the 90 years. Also, a lot of my portfolio I already had before I started trying to build this. As such my allocations dont match the proportions he gave. Not saying my allocations are better, just showing where they are at this time. I'm going to describe how I do Long Volatility at the end rather than the beginning since the way *I* do it wont make sense until you see the rest of the portflio. Physical PMs 22% I'm not sure wether he intended this to be straight up physical gold or include miners and royalty streaming companies so I will just keep this as physical. I consider Silver to be a non-expiring call option on gold, so that can live here too. I am actually *very* overweight silver and my strategy is to convert a large portion of it to gold (mostly my bars) to gold as the ratio tightens up. If youre into crypto, you can arguably say that has a place in this section. If an ETF makes sense for part of your portfolio, I suggest the Sprott ones such as PHYS. Sprott is an honest business and they actually have the metal they say they have. If you have enough, you can redeem your shares from the Royal Canadian Mint. The only downside is that they dont have an options chain, so you cant sell covered calls etc. Simple enough I suppose. One thing to bear in mind, there is a double edged sword with this class of assets. They're out of the system, theyre nobody's business but your own and theres no counter party. That unfortunately means that you cant lever against it for margin or sell covered calls etc. You can still buy puts though (more on that later) Commodity Trend (CTA) 10% https://youtu.be/tac8sWPZW0w Patrick Ceresna gave a good presentation on what this strategy is. Until I watched this video I just thought it meant "buy commodities". A real CTA does this with futures also so aside from the way he showed, there are two other ETFs that are worth looking at. COM - This is an explicit trend following ETF that follows a LONG/FLAT strategy instead of LONG/SHORT on a pile of commodity futures. So if they get a "sell" signal for oil or soybeans they sell what they have and go to cash. COMT- Holds an assortment of different month futures in different commodities, as well as a *lot* of various related shares in producers. Its almost a one stop shop commodities portfolio. Pays a respectable dividend in December If you want to break the "rules" of CTA, and include equities theres a few others that are also worth looking at KOL- This is a coal ETF. The problems with it are that a lot of the holdings dont have much to do with coal. One of them is a tractor company. A lot of the companies are Chinese so theres a bit of a red flag. Obviously Thermal Coal, the kind used for heating and powerplants isnt in vogue and wont be moving forward...but coking coal is used for steel manufacturing and that ain't going anywhere. The dividend is huge, pays out in December. A very very small position might be worth the risk. Uranium- I'm in URA because thats the only way for me to get exposure to Kazatoprom (#1 producer), which is 20% of the holdings. The other 20% is Cameco (#2 producer)and then its random stuff. Other than that I have shares in Denison which seems like its a good business with some interesting projects underway. I'm still studying the uranium space so I dont really have much to say about it of any value. RSX- Russia large caps. If you dont want to pick between the myriad of undervalued, high dividend paying commodity companies that Russia has then just grab this. It only pays in December but it has a liquid options chain so you can do Covered Calls in the meantime if you want. NTR- Nutrien, canadian company that was formed when two others merged. They are now the worlds largest potash producer. Pretty good dividend. They have some financial difficulties and the stocks been in a downtrend forever. I feel its a good candidate to watch or sell some puts on. I'm trying to come up with a way to play agriculture since this new phase we're going to be entering is likely to cause huge food shortages. EURN and NAT- I got in fairly early on the Tanker hype before it was even hype as a way to short oil but I got greedy and lost a lot of my gains. I pared down my position and I'm staying for the dividend. If you get an oil sell signal, this might be a way to play that still. Fixed Income/Bonds 10% Now, I am not a bond expert but unless youre doing some wacky spreads with futures or whatever... I dont see much reason to buy government debt any more. If you are, youre basically betting that they take rates negative. Raoul Pal of Real Vision is pretty firm in his conviction that this will happen. I know better than to argue with him but I dont see risk/reward as being of much value. HOWEVER, I found two interesting ETFs that seem to bring something to this portfolio IVOL- This is run by Nancy Davis, and is comprised of TIPS bonds which are nominally inflation protected (doubt its real inflation but whatever) overlayed with some OTC options that are designed to pay off big if the Fed loses control of the long end of the yield curve, which is what might happen during a real inflation situation. Pays out a decent yield monthly TAIL- This is a simpler portfolio of 10yr treasuries with ladder of puts on the SPX. Pays quarterly. Equities 58% (shared with options/volatility below) This is where it gets interesting, obviously most of this is in mining shares but before I get to those I found some interesting stuff that I'm intending to build up as I pare down my miners when the time comes to start doing that. VIRT- I cant remember where I saw this, but people were talking about this as a volatility play. Its not perfect, but look at the chart compared to SPY. Its a HFT/market making operation, the wackier things get the more pennies they can scalp. A 4% dividend isnt shabby either. FUND- This is an interesting closed end fund run by Whitney George, one of the principals at Sprott. He took it with him when he joined the company. Ive read his reports and interviews and I really like his approach to value and investing. He's kind of like if Warren Buffett was a gold bug. Theres 120 holdings in there, mostly small caps and very diverse...chicken factories, ball bearings all kinds of boring ass shit that nobody knows exists. Whats crucial is that most of it "needs to exist". Between him, his family and other people at Sprott they control 40% or so of the shares, so they definitely have skin in the game. Generous dividend. ZIG- This is a "deep value" strategy fund, run by Tobias Carlisle. He has a fairly simple valuation formula called the Acquirer's Multiple that when he backtested it, is supposed to perform very well. He did an interview with Chris Cole on real Vision where he discusses how Value and Deep Value havent done well recently, but over the last 100 years have proven to be very viable strategies. If we feel that theres a new cycle brewing, then this strategy may work again moving forward. I want to pause and point out something here, Chris Cole, Nassim Taleb and the guys at Mutiny Fund spend a lot of effort explaining that building a portfolio is a lot like putting together a good basketall team. They need to work together, and pick up each others slack A lot of the ETFs I'm listing here are in many ways portfolios in and of themselves and are *actively managed*. I specifically chose them because they follow a methodology that I respect but I can't do myself because I dont have the skill, temperament or access to. The next one is a hidden gem and ties into this. I'm not sure how much more upside there is in this one but man was I surprised. SII- Sprott Inc. I *never* see people listing this stock in their PMs portfolios. A newsletter I'm subscribed to described this stock as the safest way to play junior miners. Their industry presence, intellectual capital and connections means that they get *the best* private placement deals in the best opportunities. I cant compete with a staff like theirs and I'm not going to try. I bought this at 2.50, and I liked the dividend. Since then they did a reverse split to get on the NYSE and like the day after the stock soared. When it comes to mining ETFS I like GOAU and SILJ the best. None of their major holdings are dead weight companies that are only there because of market cap. I dont want Barrick in my portfolio etc. SGDJ is a neat version of GDXJ. Aside from that my individual miners/royalty companies are (no particular order) MMX SAND PAAS PGM AUM AG MUX RIO- Rio2 on the tsx, not rio tinto KTN KL Options/Volatility: varies So this is where we get to the part about options, Volatility and how I do it. I started out in the options space with The Wheel strategy and the Tastytrade approach of selling premium. The spreads and puts I sell, are on shares listed above, in fact some of those I dont hold anymore. Theres tons of stuff on this in thetagang and options so I wont go into a whole bunch (and you shouldnt be learning the mechanics from me anyway) but theres one thing I want to go over before it gets wild. If I sell a Cash Secured Put, from a risk management perspective its identical to just buying 100 shares of the underlying security. You are equally "Short Vol" as well, it just that with options its a little more explicit with the Greeks and everything. But if I use my margin that I was talking about earlier, then I can still collect the premium and the interest doesnt kick in unless Im actually assigned the shares. But if I sell too many puts on KL or AG, and something happens where the miners get cut down (and lets be real, they all move together) my margin goes down and then I get assigned and kaboom...my account gets blown up So what I need to do, is balance out the huge Short Vol situation in my portfolio, be net Long Vol and directly hedge my positions. Since the overwhelming majority of my equities are all tied to bullion this is actually a very easy thing to do. Backspreads https://youtu.be/pvX5_rkm5x0 https://youtu.be/-jTvWOGVsK8 https://youtu.be/muYjjm934iY So I set this up so the vast majority of my margin is tied up in these 1-2 or even 1-3 ratio put spreads that *I actually put on for a small credit*, and roll them every once in a while. I run them on SLV, and GDX. I keep enough room on my margin so I can withstand a 10% drawdown before it sets off the long end of the spreads and then I can ride it out until it turns around and we keep the PM bull market going. Theres another cool spread I've been using, which is a modified Jade Lizard; if already hold shares, I'll sell a put, sell a covered call, and use some of the premium to buy a longer dated call. Ive been running this on AG mostly. I have a few more spreads I can show you but Im tired now so it'll have to wait for later. As I said multiple times, I do intend to trim these miners later but now isnt the time for that IMO. I'm also monitoring this almost full time since I have an injury and have nothing better to do until I heal :p
Crypto-Powered: Understanding Bitcoin, Ethereum, and DeFi
Until one understands the basics of this tech, they won’t be able to grasp or appreciate the impact it has on our digital bank, Genesis Block. https://reddit.com/link/ho4bif/video/n0euarkifu951/player This is the second post ofCrypto-Powered— a new series that examines what it means forGenesis Blockto be a digital bank that’s powered by crypto, blockchain, and decentralized protocols. --- Our previous post set the stage for this series. We discussed the state of consumer finance and how the success of today’s high-flying fintech unicorns will be short-lived as long as they’re building on legacy finance — a weak foundation that is ripe for massive disruption. Instead, the future of consumer finance belongs to those who are deeply familiar with blockchain tech & decentralized protocols, build on it as the foundation, and know how to take it to the world. Like Genesis Block. Today we begin our journey down the crypto rabbit hole. This post will be an important introduction for those still learning about Bitcoin, Ethereum, or DeFi (Decentralized Finance). This post (and the next few) will go into greater detail about how this technology gives Genesis Block an edge, a superpower, and an unfair advantage. Let’s dive in… https://preview.redd.it/1ugdxoqjfu951.jpg?width=650&format=pjpg&auto=webp&s=36edde1079c3cff5f6b15b8cd30e6c436626d5d8
Bitcoin: The First Cryptocurrency
There are plenty of online resources to learn about Bitcoin (Coinbase, Binance, Gemini, Naval, Alex Gladstein, Marc Andreessen, Chris Dixon). I don’t wanna spend a lot of time on that here, but let’s do a quick overview for those still getting ramped up. Cryptocurrency is the most popular use-case of blockchain technology today. And Bitcoin was the first cryptocurrency to be invented.
Bitcoin is the most decentralized of all crypto assets today — no government, company, or third party can control or censor it.
Bitcoin has two primary features (as do most other cryptocurrencies):
Send Value You can send value to anyone, anywhere in the world. Nobody can intercept, delay or stop it — not even governments or financial institutions. Unlike with traditional money transfers or bank wires, there are no layers of middlemen. This results in a process that is much more cost-efficient. Some popular use-cases include remittances and cross-border payments.
A few negative moments in Bitcoin’s history include the collapse of Mt. Gox — which resulted in hundreds of millions of customer funds being stolen — as well as Bitcoin’s role in dark markets like Silk Road — where Bitcoin arguably found its initial userbase. However, like most breakthrough technology, Bitcoin is neither good nor bad. It’s neutral. People can use it for good or they can use it for evil. Thankfully, it’s being used less and less for illicit activity. Criminals are starting to understand that transactions on a blockchain are public and traceable — it’s exactly the type of system they usually try to avoid. And it’s true, at this point “a lot more” crimes are actually committed with fiat than crypto. As a result, the perception of bitcoin and cryptocurrency has been changing over the years to a more positive light. Bitcoin has even started to enter the world of media & entertainment. It’s been mentioned in Hollywood films like Spiderman: Into the Spider-Verse and in songs from major artists like Eminem. It’s been mentioned in countless TV shows like Billions, The Simpsons, Big Bang Theory, Gray’s Anatomy, Family Guy, and more. As covid19 has ravaged economies and central banks have been printing money, Bitcoin has caught the attention of many legendary Wall Street investors like Paul Tudor Jones, saying that Bitcoin is a great bet against inflation (reminding him of Gold in the 1970s). Cash App already lets their 25M users buy Bitcoin. It’s rumored that PayPal and Venmo will soon let their 325M users start buying Bitcoin. Bitcoin is by far the most dominant cryptocurrency and is showing no signs of slowing down. For more than a decade it has delivered on its core use-cases — being able to send or store value.
At this point, Bitcoin has very much entered the zeitgeist of modern pop culture — at least in the West.
When Ethereum launched in 2015, it opened up a world of new possibilities and use-cases for crypto. With Ethereum Smart Contracts (i.e. applications), this exciting new digital money (cryptocurrency) became a lot less dumb. Developers could now build applications that go beyond the simple use-cases of “send value” & “store value.” They could program cryptocurrency to have rules, behavior, and logic to respond to different inputs. And always enforced by code. Additional reading on Ethereum fromLinda XieorVitalik Buterin.
Because these applications are built on blockchain technology (Ethereum), they preserve many of the same characteristics as Bitcoin: no one can stop, censor or shut down these apps because they are decentralized.
Just as tokens grew in popularity in 2017–2018, so did online marketplaces where these tokens could be bought, sold, and traded. This was a fledgling asset class — the merchants selling picks, axes, and shovels were finally starting to emerge.
I had a front-row seat — both as an investor and token creator. This was the Wild West with all the frontier drama & scandal that you’d expect.
Binance — now the world’s largest crypto exchange —was launched during this time. They along with many others (especially from Asia) made it really easy for speculators, traders, and degenerate gamblers to participate in these markets. Similar to other financial markets, the goal was straightforward: buy low and sell high. https://preview.redd.it/tytsu5jnfu951.jpg?width=600&format=pjpg&auto=webp&s=fe3425b7e4a71fa953b953f0c7f6eaff6504a0d1 That period left an embarrassing stain on our industry that we’ve still been trying to recover from. It was a period rampant with market manipulation, pump-and-dumps, and scams. To some extent, the crypto industry still suffers from that today, but it’s nothing compared to what it was then.
While the potential of getting filthy rich brought a lot of fly-by-nighters and charlatans into the industry, it also brought a lot of innovators, entrepreneurs, and builders.
The launch and growth of Ethereum has been an incredible technological breakthrough. As with past tech breakthroughs, it has led to a wave of innovation, experimentation, and development. The creativity around tokens, smart contracts, and decentralized applications has been fascinating to witness. Now a few years later, the fruits of those labors are starting to be realized.
I know that for the hardcore crypto people, what we covered today is nothing new. But for those who are still getting up to speed, welcome! I hope this was helpful and that it fuels your interest to learn more. Until you understand the basics of this technology, you won’t be able to fully appreciate the impact that it has on our new digital bank, Genesis Block. You won’t be able to understand the implications, how it relates, or how it helps. After today’s post, some of you probably have a lot more questions. What are specific examples or use-cases of DeFi? Why does it need to be on a blockchain? What benefits does it bring to Genesis Block and our users? In upcoming posts, we answer these questions. Today’s post was just Level 1. It set the foundation for where we’re headed next: even deeper down the crypto rabbit hole. --- Other Ways to Consume Today's Episode:
We have a lot more content coming. Be sure to follow our channels: https://genesisblock.com/follow/ Have you already downloaded the app? We're Genesis Block, a new digital bank that's powered by crypto & decentralized protocols. The app is live in the App Store (iOS & Android). Get the link to download at https://genesisblock.com/download
Online gambling legislation and regulation. Starting your own gambling product.
Mobile gambling If you plan to develop an app with the ability to deposit and withdraw real money, then such a product automatically falls into the category of gambling and you will need to license your business for successful operation. Mobile and Web Based Apps So let’s talk about the different kinds of online gambling apps available on web and mobile. We’ll be covering both free-play gaming apps and real money casino app games you can find for iOS, Android devices and web browsers. Mobile gambling is more common for poker, casino, bingo, and skill games. They have advantages in terms of a low barrier to enter the market, instant liquidity, product knowledge, and marketing expertise, minimal infrastructure costs, and the ability to bring a brand to the market quickly. Consequently, this form of gambling does not sit neatly with jurisdictional boundaries. Multiple gambling opportunities are available, including betting on various events and markets, in a relatively simple format. Gambling products can also be integrated into betting on television shows or virtual racing and sports games as well as offering lotteries, bingo, poker and casino games. Most Popular Gambling Apps Sports betting, casino, poker and lotteries are the most popular forms of online gambling. However, other forms are available too. These include the following: Bingo, slot machines, different card games, roulette and other game of chance. One of the best things about online gambling and betting apps is the number of choices you have.
Betting means making or accepting a bet on the outcome of a race, competition, or other event or process, the likelihood of anything occurring or not occurring, or whether anything is or is not true. Today most sports betting is done via mobile-friendly sites and apps.
Today most sports betting is done via mobile-friendly sites and apps.
The introduction of live betting for sports like soccer and tennis means that bettors who are sitting inside stadiums watching games can now pick up their mobile devices and find real-time betting value with the best sports gambling apps. This has really unlocked a door to the future of sports gambling and the popularity of online gambling apps.
Many sites offer free poker, where no real money is wagered, although in some cases players can accumulate credits that can be exchanged for prizes. This is the case why people are going to play for real money. There is an ongoing debate over whether poker should be classified as a game of chance or skill. The parameters of legal poker playing are still unclear and differ between jurisdictions. Since you are not gambling with money, I’m pretty sure under the law it’s just a video game for now.
Blackjack is the game of choice to many high-rollers and do you know why? Because blackjack is a challenging, logic and skill-based game where your thinking, strategy, and calculations determine the outcome of the game.
Bingo is one of the most popular and socially accepted games in the world. Bingo is a traditional form of gambling that has seen considerable innovation in recent years. It is also the only form of gambling recognized in the Gambling Act that does not have a specific statutory definition, the Act providing simply that “bingo” means “any version of that game, irrespective of by what name it is described”. Bingo must be played as an equal chance game. For game to be classed as “bingo” it must meet the Act’s definition of “equal chance gaming” (as opposed to casino gaming). Thus, it: must not involve playing or staking against a bank, and must be a game in which the chances are equally favorable to all participants in the sense that each ticket or chance has the same probability of success as any other. Licensed bingo is a well-regulated and socially responsible form of gambling that takes place in a safe environment. Many sites offer multiple forms of bingo with different features, types of games, and costs of play. These sites often cater specifically for women and some research suggests that they may appeal to markets who would not typically engage in traditional forms of gambling.
Slot machine is one of the most beloved game among the gambling community and it has been a part of the industry for a long time. They provide fun and entertainment and their simplicity allows gamers to start playing at once. This can play out in different ways depending on the machine you’re playing. For instance, there’s Pick a Fortune, a five-reel, 20 line game that puts players right in the studio of a television game show, including the potential to play a Deal or No Deal-style bonus round. A super trend over the past few years is mobile-friendly slot games. These apps and websites were developed to enable players to enjoy their favorite games on their smartphones at any time. Another dominant slot trend is licensed branded slots that are based on popular movies, television, and musicians. Virtual Money vs Real Money Let’s find out the difference between social gambling and real money gambling, as well as the differences between gambling through apps and gambling through a web browser. It can be quite confusing trawling through all the casinos, slots, and lotteries available, both through your mobile web browser as well as through mobile app stores, in the form of downloadable apps.
The main difference between virtual money and real money gambling is that the in-game virtual currency in social games and gambling-type games is used only like credits that are not paid out as winnings or anything given to player in cash, making these games exempt from gambling regulations.
Virtual money is loaded on user game accounts via in-app purchases in mobile applications or the game balance funding from a card via web based applications.
Real money gambling
Real money gambling via your mobile device is only allowed in countries where laws have been passed that allow for this type of gambling online, or there are no laws in place that prevent it. The payment systems are the legal way of services payment in the gambling app, performing as the intermediary between the gambling facility and the client. With their help, users replenish deposits and withdraw funds to personal accounts in financial institutions. If the application uses the payment system of a well-known brand, that gives players additional confidence in the resource. Nowadays, there is a wide range of payment systems, some of which operate all over the world, other systems are oriented towards the citizens of one or several countries. A number of services accept money of different world currencies, while others allow currency transactions of one state only. What is an Online Gambling Licensing The internet has a global audience, there’s no single piece of legislation that covers the legality of online gambling for the entire world. Mobile gambling doesn’t typically accept customers from every single country in the world. It often focuses on certain specific regions.
Instead, most countries have their own local laws that deal with the relevant legal and regulatory issues.
Ultimately, questions of legality all go back to the location of the casino or where the website operates out of. In closed regulatory systems, such as Italy, France, and the Netherlands, licenses, and advertising rights are limited to domestic providers, which must be located within their country’s geographical boundaries and these are only permitted to offer some types of products. Some jurisdictions, for example, Norway, Sweden, and Canada legalize and regulate online gambling, but this is limited to a single site that is owned by the government. Under such an approach, the government becomes the operator and regulator and all revenues are returned to the government. Remote gambling is generally permitted. That means that an operator that is licensed may provide gambling services to citizens in the country via all forms of remote communication (and using equipment that may be located in the country or abroad). Equally, a remote operator may be licensed to offer gambling services to citizens in any jurisdiction in the world using equipment located in the country. The law provides that, for each type of gambling (betting, gaming, and participating in a lottery), there will be two forms of license available: remote and non-remote forms (land-based). If you provide facilities for remote gambling, online or through other means, and advertise to consumers you will need a license from the licensing jurisdictions or local licensing authorities. Before an online gambling site signs up its first customer, before it accepts its first bet before the first card is dealt, it must be licensed by a recognized governmental entity.
Certain regions in the world have specific legislation in place that allows them to license and regulate companies that operate online gambling sites or provide industry services (such as the supply of gaming software). These regions are referred to as online gambling jurisdictions or licensing jurisdictions.
Depending on what type of entertainment you are going to implement in your internet establishment, you will have to apply for the corresponding permissions. Online gambling laws in Europe vary from one country to the next. The industry is well regulated in some countries and less so in others. There are several online gambling jurisdictions located in Europe. Some of these are members of the European Union (EU), and thus subject to the various rules and regulations of that body, while others are independent. Each of these jurisdictions has an authority that’s responsible for approving gambling sites for licenses that enable them to offer their services legally. They also regulate their licensees. Countries that Provide Gambling Licensing Today there are lots of licensing jurisdictions located all over the world and offering different terms for their customers. Depending on the country, licenses can be local, international (distributed in several countries), have a different set of documents for registration, costs of registration and further support, various operating conditions and other special details.
Which gambling license is both internationally recognized?
The government of Ireland offers casino operators, software, and service providers in the gambling industry, with a gambling license that allows gambling operators to conduct business related to casino, lotto, and other gaming-related activities. Ireland Gambling License is one of the most popular license for online casinos worldwide. Ireland has long been recognized as one of the preferred locations for Online Gambling operators to base their operations. This success has been due to a combination of factors, such as a progressive legislative system, political stability, first-rate telecommunications facilities, and a well established financial services industry. A wide range of gambling sites operates out of Ireland including sports betting, casino sites, poker, bingo, and more. In stark contrast, the UK is the largest regulated market for online gambling in the world, and corporations are already comfortable exploiting the intersections of gambling and gaming, betting in-play, social gaming, Bitcoin, financial trading and spread betting, betting exchanges, e-sports and, most profitably, mobile gambling. 40% and 60% of online gambling in the UK took place in Gibraltar.
Europe is home to the following online gambling jurisdictions: Alderney, Gibraltar, Isle of Man, Malta. Malta is currently the country that is most accommodating to gambling companies, and the license offers whitelisted online gambling in sports and casino games in many European territories. But takes an extreme amount of time in paperwork and background checks. Also, you pay 5% of all your gross profit to the EU.
Among countries offering gambling licensing services, the attention should be paid to Curaçao jurisdiction, which is considered to be one of the most promising for the online gaming business.
Curaçao Internet Gaming Association (also known as Curaçao eGaming) is both a regulator and a licensor, and its licensing works worldwide except Curaçao itself, USA, France and Netherlands. Using Curacao as an example, let us examine in detail the process of obtaining a license, the necessary documents and expenses. How to get a License on Curaçao
Documents necessary for company registration:
bank account confirmation;
documents proving payments for utility services.
After the company is registered, an operator can apply for the license providing the following documents:
a document certifying the right of domain possession;
description of games planned to be used in the project;
a list indicating countries of potential operation;
illustration of server locations to be used in the project;
a copy of the agreement with a software provider.
Gambling license cost:
Bank account opening $1000
Company registration $3600
Company management per year $3600
Application processing fee $1000
License fee per year $4800
Equipment/software fee starting from $1500
Server maintenance per year $6000
Apart from that pay for technical support and maintenance every year. The entire license issuing process takes between 2-4 weeks. Curacao Internet Gaming Association (CIGA) also has the power to review a license and, if it finds that an operator has breached a license condition, has the power to impose a range of sanctions including revocation of the license. Apple and Google Gambling Rules You’ll be surprised at the limited number of real money gambling app options available on the AppStore and Google Play Store. Most real money casino gaming is done through gambler’s mobile web browsers and not through mobile gambling apps that you’ll find for iPhone and Android phones. Apple allows online gambling applications in a few forms, and not just in places where it is explicitly permitted. They do not allow any payments through the applications – those have to be done on the websites. Apple has far stricter developer guidelines for iOS apps than Google does for Android apps, so it’s fine to assume that whatever you choose to download from iTunes is usually safe, secure, and meets a certain standard.
Any real money casino in the iTunes app is required to have proper licensing and permissions before Apple will approve the app for use or downloads. While Google Play is technically regulated, it is much more loose in what can be hosted.
Gambling, gaming, and lotteries can be tricky to manage and tend to be one of the most-regulated offerings on the App Store. Apple has rules for apps that support real money wagering, including sports betting and poker. Those apps and lotteries must have necessary licensing and permissions in the locations where the App is used, must be geo-restricted to those locations, and must be free on the App Store, and Apple rate even simulated gambling apps as appropriate only for users 17-years-old and up.
Google keeps the reigns tight. To be able to successfully upload apps to the Google Play store, developers need to have a valid license for the specific countries they are targeting and comply with their regulations. The app must be free to download and must prevent under-age users from gambling in the app. As a final precaution, all gambling apps are required to display prominent information regarding responsible gambling practices. This brings its policy in line with the Apple App Store. Countries where gambling is illegal It is also important to remember that while gambling is growing rapidly in many places, in others it is totally or partially prohibited. As well as in the majority of the US, sports betting is illegal in India, Pakistan, and China, three of the largest gambling markets in the world. Most countries have rules against gambling. Almost all Islamic countries prohibit gambling of every kind, but many turn a blind eye to online gambling or simply do not have regulations in place for this grey area. In the United Arab Emirates, however, any kind of gambling is prosecuted. National lotteries are the only legal forms of wagering on the Asian country’s mainland. Cambodia, North Korea strictly forbids online and offline gambling amongst its own citizens but allows tourists to participate in these activities. Qatar is the strictest country of all when it comes to gambling laws. All forms of gambling activities are considered illegal, and even sports betting is not permissible. Starting your own gambling product Numerous online casino platforms in the market offer fantastic casino games like bingo, poker, roulette, and many more.
If you have an idea, but don’t know where to start, we advise you begin with a Minimal Viable Product (MVP) to pilot your proof of concept for investors. MVP spotlights your core features and lets your investors know there are bigger and better things to come.
For MVP you do not need a large team, just a few people are enough to create a fully functioning prototype. In the case of successful numbers of your prototype, the further development of a full-fledged product will require more team, resources and time, however you will be sure that your development and your costs will pay off.
ℳonero possesses every characteristic of Sound Money: durability, portability, divisibility, uniformity, limited supply, and acceptability.
There have been many forms of money in history, but some forms have worked better than others because they have characteristics that make them more useful. The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability . Let's compare two examples of possible forms of money:
A cow. Cattle have been used as money at different points in history.
ℳonero equal to the value of one cow.
Let's run down our list of characteristics to see how they stack up.
Durability A cow is fairly durable, but a long trip to the market runs the risk of sickness or death for the cow and can severely reduce its value. Units of ℳonero cannot deteriorate or become broken in any way. It exists digitally within a decentralized peer-to-peer network which has no central point of failure.
Portability. While the cow is difficult to transport to the store, ℳonero can be easily be transferred wherever an internet connection is available.
Divisibility. A unit of ℳonero is practically infinitely divisible, up to 12 decimal places. A cow, on the other hand, is not very divisible.
Uniformity. Cows come in many sizes and shapes and each has a different value; cows are not a very uniform form of money. Because accounts and transactions are encrypted, every unit of ℳonero is essentially freshly minted currency and thus treated equally.
Limited supply. In order to maintain its value, money must have a limited supply. While the supply of cows is fairly limited, if they were used as money, you can bet ranchers would do their best to increase the supply of cows, which would decrease their value. The supply, and therefore the value, of ℳonero is established by code agreed upon by the network participants so that the amount of money created is known and controlled.
Acceptability. Even though cows have intrinsic value, some people may not accept cattle as money. In contrast, as ℳonero adoption grows, people will be more than willing to accept your ℳonero. ℳonero can also be exchanged on numerous currency exchanges for any major currency in the world.
Well, it seems "udderly" clear at this point that ℳonero is a much better form of money than cattle. Apply these same properties to other currencies like gold, USD, or Bitcoin and see how they stand up against ℳonero. Is gold portable? Is there a limited supply of US Dollars? Is every unit of bitcoin uniform? You will come to realize why ℳonero is perfectly sound money, the likes of which has never been seen before.  Functions of Money, The Federal Reserve Bank; The Economic Lowdon Podcast (2020)
I have been making money online since 2015. There are so many ways that I can't remember them all, but here is a list of most of them - including the most significant ones. Hope this helps you somehow. As I'm from Canada, many of these (but not all) are for Canadians. From highest-earning to lowest, for your convenience:
Instead of telling the whole story of each method, and since you care most about the highest-earning opportunities, let's discuss those and if anyone has questions about something not mentioned in this post - don't hesitate to ask, I'm happy to explain.
This is by far my biggest earner. Basically, back in mid 2017, I realized that the crypto market was starting another bull run. I had previously learned that it was possible to make money advertising for companies by adding their custom signature to my account profile so that each post contains links to their website/products underneath it. They paid a lot more back then, because Bitcoin was only valued at around $700-1,000 when I started. This forum also doesn't care about having multiple accounts - in fact, it's fully allowed. Some people have hundreds of accounts. Therefore, I quickly searched the web for people selling their accounts... and bought a bunch of decently-ranked ones such that I was able to post full-time essentially, making up to $5/post which only takes a minute or two. The best campaign I joined is one called DeepOnion, which paid almost $30,000 in about 1 month!!! All I had to do is make 10 posts a week per account, and they deposited their coin to my wallet. After it was added to an exchange, the price quickly rose and one night my portfolio value went from $3,000 to over $20,000. I sold literally at the peak! I also made money from Bitcoin paying campaigns (they pay in BTC as opposed to their token/coin). Another big score was a campaign called ATLANT, where I made well over $20,000 ...however, didn't sell my tokens and now they are worth a fraction of that. Oh well. With the above said, I don't recommend doing this anymore, as the forum is filled with 3rd world spammers who realized that it was possible to make big money a couple of years ago, and now they have bots spamming constantly and applying to campaigns and such. I haven't posted there in a long time, probably over 6 months, because it wasn't worth it anymore. It was great while it lasted.
Notice how most of my earning comes from crypto? :p Well, I found a high-ranking Reddit post about Bitcoin that was ranked in the top 3 on Google for multiple good long-string keywords. In other words, many people (I'm talking hundreds) were finding it on a daily basis. I got my comment to the top spot, which includes an affiliate link and so over 5,000 people ended up signing up and I made a lot from it. My estimate is about $10,000 USD equivalent (pays in BTC daily), although could be more.
This is the same deal as Slickdeals, as explained below. However, after SD banned my accounts, since I had a high-karma Reddit account, I realized that my clients might be interested in advertising in "deals" subreddits (mostly Amazon, although it varied). Sure enough, they were and I got paid up to $300 for a single post in popular subreddits.
This is an app that pays you to lose weight. There are a few different types of challenges, including personal, individual and team challenges. The personal challenge is the one I am currently focusing on, as I bet $125/mo over 12 months ($1500), and if successful, stand to win $4,900 or $3,400 profit. I started at 360 pounds, and must weigh out at 180 pounds or less after 1 year to win. (I know, it's lots of weight to lose, but there is tons of money at stake.) If you join using my referral link, you get $40 added to your prize and I also get $40. By the way, most people who join make a mistake of betting too much or too little. For example, you might get the same winnings by betting $100/month or $500/month, because the algorithm caps out at a certain amount. With that said, use this calculator to get the exact amount that you should bet to maximize your ROI (click on "Calculate a Healthy Wager"). I didn't know about this before signing up, and ended up betting more than I had to make the same amount (although only $12).
I had a startup similar to Groupon, and had made a few Slickdeals accounts because of that. One day while driving, it occurs to me that people might be willing to have me post on SD using my account since the traffic is so high. Well, I drove straight to the library and posted my Skype contact on about 30 threads on Warrior forum, and that same night I was getting contacts from China and it never stopped. This was way back in 2015, and I had 3 accounts and made $20 per post. I was doing about 1 post/day and sometimes getting $5 to do upvotes as well. All-in-all, after contracting out someone on Fiverr to automate the whole thing, my accounts ended up getting banned and that was that.
During the hoverboard craze of 2015, I made a couple of rudimentary sites and managed to sell about 12 in total, making about ~$100 profit per sale, and selling the sites for $750 and $250 respectively for about $2,000 in total profit. This is the first time I used YouTube as a marketing medium, specifically paid product placement, which you can see here. This video sold 4 boards & I sold the site for $250, and the board cost about $350, so it was a good deal in the end. Well, that about sums up my online earning history. I'm sure there are (many) other ways I've earned a buck, but simply don't remember them all. Again, don't hesitate to ask any questions you may have and I am more than happy to answer. Thanks for reading. Edit: it's great to see that this post is interesting to many people My best suggestions to make fast, easy money are the following:
Growing Hydroponic Lettuce this is a new one to me, but I recently started growing lettuce and not only is it super enjoyable, but it's much more cost-effective than buying it from the store. Checkout this video which shows how. All that is needed is a container with some 2 or 3 inch holes, some "net cups" to hold the lettuce in, and some liquid nutrients which are available on Amazon.
Coinberry (non-ref) I literally signed up, verified my account and got the bonus within an hour. There is a 3 day hold to withdraw funds, but it's an easy $20 and they also give an extra $10 "customer appreciation bonus" after your first deposit, so you get $30 total.
HealthyWage (non-ref) If you need to lose weight anyway, then you might as well get paid while doing so. I recommend doing a minimum amount of weight-loss over 6 months, to make it easier on yourself. When you signup with my link, we both get $40.
Dietbet no ref link, but this is a really good earner. I make about $200/month with it by playing in 9 games simultaneously.
Honeygain (non-ref) this one is entirely passive, and I highly recommend it. Simply download the app and you make money for browsing online, without doing anything else. I make about $50/year with just my phone. When you signup with my link, we both get $5.
Crypto.com (non-ref) this is a legit cryptourrency site that gives you $50 when you sign up & deposit $250. I know it's legit, because I just signed up a few days ago and already got my bonus. Simply buy their crypto in the app with your credit card & stake it for 6 months, and they give you $50.
Bitcoin Value and Price to use their substantial resources to make bets that bitcoin’s price will move in the opposite direction. as fundamental issues typically take a long time to resolve. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. ETX Capital. ETX Capital supports cryptocurrency spread betting with Bitcoin, Ethereum, Bitcoin Cash, Ripple, and Litecoin. The Bitcoin daily spread is 50 pips (variable) while the Ethereum daily spread With bitcoins, a person in California can send $20,000 USD worth of value to a person in Russia in a matter of seconds, for FREE. In comparison: Paypal would cost about $600, and take a few seconds. Credit card would cost about $600 and take a few days, to a week, or more. Bank wire would cost about $40, and take one or two days. In today’s Bitcoin marketplace, the value can climb and fall hundreds – even thousands – of dollars in a few hours. Even standard spread bets are priced at -105 or -106 instead of the At the time of his prediction, bitcoin traded above $14,000. The cryptocurrency slumped below $4,000 by the end of 2018, and it's now trading at about $5,200 . 2.
Bitcoin charts are finally lined up and btc price is primed for a breakout. After waiting and tracking this bitcoin symmetrical triangle since the beginning of May, Bitcoin price finally enters ... Cointelegraph covers everything Bitcoin, bringing you the latest news, prices, breakthroughs, and analysis, with emphasis on expert opinion and commentary from the digital currency community ... 2018 for bitcoin wasn’t something we expected, but there is the reason why it happened what it happened. Bitcoin was in the bubble in 2017, it skyrocketed by 1,800% reaching its all time high ... Bitcoin.. IS THIS The Reversal You've Been Waiting For?! July 2020 Price Prediction & News Analysis - Duration: 39:55. Krown's Crypto Cave 8,382 views The next bull cycle for bitcoin (BTC) may bring its price up about 2 to 5 times the price seen during the previous all-time high from December 2017, meaning it could jump to USD 40,000 - USD ...