The power players of consumer finance in the 21st century will be crypto-native companies who build with blockchain technology at their core.
The crypto landscape is still nascent. We’re still very much in the fragmented, unbundled phase of the industry lifecycle. Beyond what Genesis Block is doing, there are signs of other companies slowly starting to bundle financial services into what could be an all-in-one bank replacement. So the key question that this series hopes to answer:
Which crypto-native company will successfully become the bank of the future?
We obviously think Genesis Block is well-positioned to win. But we certainly aren’t the only game in town. In this series, we’ll be doing an analysis of who is most capable of thwarting our efforts. We’ll look at categories like crypto exchanges, crypto wallets, centralized lending & borrowing services, and crypto debit card companies. Each category will have its own dedicated post. Today we’re analyzing big crypto exchanges. The two companies we’ll focus on today are Coinbase (biggest American exchange) and Binance (biggest global exchange). They are the top two exchanges in terms of Bitcoin trading volume. They are in pole position to winning this market — they have a huge existing userbase and strong financial resources. Will Coinbase or Binance become the bank of the future? Can their early success propel them to winning the broader consumer finance market? Is their growth too far ahead for anyone else to catch up? Let’s dive in. https://preview.redd.it/lau4hevpm7f51.png?width=800&format=png&auto=webp&s=2c5de1ba497199f36aa194e5809bd86e5ab533d8
The most formidable exchange on the global stage is Binance (Crunchbase). All signs suggest they have significantly more users and a stronger balance sheet than Coinbase. No other exchange is executing as aggressively and relentlessly as Binance is. The cadence at which they are shipping and launching new products is nothing short of impressive. As Tushar Jain from Multicoin argues, Binance is Blitzscaling. Here are some of the products that they’ve launched in the last 18 months. Only a few are announced but still pre-launch.
Binance is well-positioned to become the crypto-powered, all-in-one, bundled solution for financial services. They already have so many of the pieces. But the key question is:
Can they create a cohesive & united product experience?
Binance is strong, but they do have a few major weaknesses that could slow them down.
Traders & Speculators Binance is currently very geared for speculators, traders, and financial professionals. Their bread-and-butter is trading (spot, margin, options, futures). Their UI is littered with depth charts, order books, candlesticks, and other financial concepts that are beyond the reach of most normal consumers. Their product today is not at all tailored for the broader consumer market. Given Binance’s popularity and strength among the pro audience, it’s unlikely that they will dumb down or simplify their product any time soon. That would jeopardize their core business. Binance will likely need an entirely new product/brand to go beyond the pro user crowd. That will take time (or an acquisition). So the question remains, is Binance even interested in the broader consumer market? Or will they continue to focus on their core product, the one-stop-shop for pro crypto traders?
Controversies & Hot Water Binance has had a number of controversies. No one seems to know where they are based — so what regulatory agencies can hold them accountable? Last year, some sensitive, private user data got leaked. When they announced their debit card program, they had to remove mentions of Visa quickly after. And though the “police raid” story proved to be untrue, there are still a lot of questions about what happened with their Shanghai office shut down (where there is smoke, there is fire). If any company has had a “move fast and break things” attitude, it is Binance. That attitude has served them well so far but as they try to do business in more regulated countries like America, this will make their road much more difficult — especially in the consumer market where trust takes a long time to earn, but can be destroyed in an instant. This is perhaps why the Binance US product is an empty shell when compared to their main global product.
Disjointed Product Experience Because Binance has so many different teams launching so many different services, their core product is increasingly feeling disjointed and disconnected. Many of the new features are sloppily integrated with each other. There’s no cohesive product experience. This is one of the downsides of executing and shipping at their relentless pace. For example, users don’t have a single wallet that shows their balances. Depending on if the user wants to do spot trading, margin, futures, or savings… the user needs to constantly be transferring their assets from one wallet to another. It’s not a unified, frictionless, simple user experience. This is one major downside of the “move fast and break things” approach.
BNB token Binance raised $15M in a 2017 ICO by selling their $BNB token. The current market cap of $BNB is worth more than $2.6B. Financially this token has served them well. However, given how BNB works (for example, their token burn), there are a lot of open questions as to how BNB will be treated with US security laws. Their Binance US product so far is treading very lightly with its use of BNB. Their token could become a liability for Binance as it enters more regulated markets. Whether the crypto community likes it or not, until regulators get caught up and understand the power of decentralized technology, tokens will still be a regulatory burden — especially for anything that touches consumers.
Binance Chain & Smart Contract Platform Binance is launching its own smart contract platform soon. Based on compatibility choices, they have their sights aimed at the Ethereum developer community. It’s unclear how easy it’ll be to convince developers to move to Binance chain. Most of the current developer energy and momentum around smart contracts is with Ethereum. Because Binance now has their own horse in the race, it’s unlikely they will ever decide to leverage Ethereum’s DeFi protocols. This could likely be a major strategic mistake — and hubris that goes a step too far. Binance will be pushing and promoting protocols on their own platform. The major risk of being all-in on their own platform is that they miss having a seat on the Ethereum rocket ship — specifically the growth of DeFi use-cases and the enormous value that can be unlocked. Integrating with Ethereum’s protocols would be either admitting defeat of their own platform or competing directly against themselves.
The crypto-native company that I believe is more likely to become the bank of the future is Coinbase (crunchbase). Their dominance in America could serve as a springboard to winning the West (Binance has a stronger foothold in Asia). Coinbase has more than 30M users. Their exchange business is a money-printing machine. They have a solid reputation as it relates to compliance and working with regulators. Their CEO is a longtime member of the crypto community. They are rumored to be going public soon.
Let’s look at what makes them strong and a likely contender for winning the broader consumer finance market.
Different Audience, Different Experience Coinbase has been smart to create a unique product experience for each audience — the pro speculator crowd and the common retail user. Their simple consumer version is at Coinbase.com. That’s the default. Their product for the more sophisticated traders and speculators is at Coinbase Pro (formerly GDAX). Unlike Binance, Coinbase can slowly build out the bank of the future for the broad consumer market while still having a home for their hardcore crypto traders. They aren’t afraid to have different experiences for different audiences.
Brand & Design Coinbase has a strong product design team. Their brand is capable of going beyond the male-dominated crypto audience. Their product is clean and simple — much more consumer-friendly than Binance. It’s clear they spend a lot of time thinking about their user experience. Interacting directly with crypto can sometimes be rough and raw (especially for n00bs). When I was at Mainframe we hosted a panel about Crypto UX challenges at the DevCon4 Dapp Awards. Connie Yang (Head of Design at Coinbase) was on the panel. She was impressive. Some of their design philosophies will bode well as they push to reach the broader consumer finance market.
Early Signs of Bundling Though Coinbase has nowhere near as many products & services as Binance, they are slowly starting to add more financial services that may appeal to the broader market. They are now letting depositors earn interest on USDC (also DAI & Tezos). In the UK they are piloting a debit card. Users can now invest in crypto with dollar-cost-averaging. It’s not much, but it’s a start. You can start to see hints of a more bundled solution around financial services.
Let’s now look at some things that could hold them back.
Slow Cadence In the fast-paced world of crypto, and especially when compared to Binance, Coinbase does not ship very many new products very often. This is perhaps their greatest weakness. Smaller, more nimble startups may run circles around them. They were smart to launch Coinbase Ventures where tey invest in early-stage startups. They can now keep an ear to the ground on innovation. Perhaps their cadence is normal for a company of their size — but the Binance pace creates quite the contrast.
Institutional Focus As a company, we are a Coinbase client. We love their institutional offering. It’s clear they’ve been investing a lot in this area. A recent Coinbase blog post made it clear that this has been a focus: “Over the past 12 months, Coinbase has been laser-focused on building out the types of features and services that our institutional customers need.” Their Tagomi acquisition only re-enforced this focus. Perhaps this is why their consumer product has felt so neglected. They’ve been heavily investing in their institutional services since May 2018. For a company that’s getting very close to an IPO, it makes sense that they’d focus on areas that present strong revenue opportunities — as they do with institutional clients. Even for big companies like Coinbase, it’s hard to have a split focus. If they are “laser-focused” on the institutional audience, it’s unlikely they’ll be launching any major consumer products anytime soon.
Coinbase Wrap Up
At Genesis Block, we‘re proud to be working with Coinbase. They are a fantastic company. However, I don’t believe that they’ll succeed in building their own product for the broader consumer finance market. While they have incredible design, there are no signs that they are focused on or capable of internally building this type of product. Similar to Binance, I think it’s far more likely that Coinbase acquires a promising young startup with strong growth.
Other US-based exchanges worth mentioning are Kraken, Gemini, and Bittrex. So far we’ve seen very few signs that any of them will aggressively attack broader consumer finance. Most are going in the way of Binance — listing more assets and adding more pro tools like margin and futures trading. And many, like Coinbase, are trying to attract more institutional customers. For example, Gemini with their custody product.
Coinbase and Binance have huge war chests and massive reach. For that alone, they should always be considered threats to Genesis Block. However, their products are very, very different than the product we’re building. And their approach is very different as well. They are trying to educate and onboard people into crypto. At Genesis Block, we believe the masses shouldn’t need to know or care about it. We did an entire series about this, Spreading Crypto. Most everyone needs banking — whether it be to borrow, spend, invest, earn interest, etc. Not everyone needs a crypto exchange. For non-crypto consumers (the mass market), the differences between a bank and a crypto exchange are immense. Companies like Binance and Coinbase make a lot of money on their crypto exchange business. It would be really difficult, gutsy, and risky for any of them to completely change their narrative, messaging, and product to focus on the broader consumer market. I don’t believe they would ever risk biting the hand that feeds them. In summary, as it relates to a digital bank aimed at the mass market, I believe both Coinbase and Binance are much more likely to acquire a startup in this space than they are to build it themselves. And I think they would want to keep the brand/product distinct and separate from their core crypto exchange business. So back to the original question, is Coinbase and Binance a threat to Genesis Block? Not really. Not today. But they could be, and for that, we want to stay close to them. ------ Other Ways to Consume Today's Episode:
https://preview.redd.it/sxiftidp8cz41.png?width=1343&format=png&auto=webp&s=645584b9971068f347f80b63016bf229e45b0bbf Hello everyone, thank you for your continued interest and support. In the past two weeks, various tasks of TokenClub have been progressing steadily. The product development and community operation progress this week are as follows: 1. TokenClub Events 1)Binance blockchain live streaming program “Block 101” joins TokenClub APP TokenClub teamed up with Binance “Block 101” to host a series of live broadcast events. In the past two weeks, the big brothers such as the CEO of Feixin, Cobo co-founder Shenyu, and IOST co-founder Terry visited the TokenClub live broadcast room. See live summary. “Block 101” is a live broadcast of dialogues launched by Binance New Media Marketing Team, hosted by Jiayi, Anna, Liuliu, Yingge, Sisi, Qiqi, Doris, etc. Here will invite entrepreneurs in the industry, investment giants, opinion leaders, trading bulls or ordinary people with stories. Every Monday to Friday, with you in the TokenClub live room. https://preview.redd.it/2ftnirwq8cz41.png?width=1080&format=png&auto=webp&s=88f45a13ad522f8d5139a703cbf2f337720907f2 https://preview.redd.it/qubkprdr8cz41.png?width=690&format=png&auto=webp&s=878a619dc582b7c2bb6d660395be4b350cb74983 2)Participate in poster forwarding, draw red envelope prize When Bitcoin halves, TokenClub launches a poster forwarding red envelope campaign. On the day of the event, forward the poster to Twitter and the telegram group, and upload a screenshot to have the opportunity to extract the TCT red envelope award ~ 3)Participate in live streaming interactive questions and win mysterious gift events From May 11th to May 15th, TokenClub launched a live question and prize draw event. During the event, watch the block 101 live broadcast and interact with questions during the live broadcast, you will have the opportunity to get a mysterious gift from TokenClub. https://preview.redd.it/rcx8yett8cz41.png?width=1080&format=png&auto=webp&s=4e2541c0d893e20725c54d76ad96634a79cfb8fd 3)TokenClub’s self-media Bilaoye was invited to participate in AMA a. On May 7th,Bilaoye was invited by UPChain to conduct an AMA with the theme of “Half Countdown, Where Will the Market Go” in the Chains community. AMA article link: http://public.tokenup100.com/page/article.html?articleId=f1db8c6bfaa94886bbdd863ec9908252&from=timeline&isappinstalled=0 b. On May 8th, Bilaoye was invited by Golden Finance to conduct an AMA with the theme “Bitcoin Breaks Over US $ 10,000 and Will Do This in Half”. Review link: https://m.jinse.com/live/topic?id=11813&from=singlemessage&isappinstalled=0 C. On May 14, Bilaoye was invited by Cailu Finance to conduct an AMA with the theme of “Correct Postures for Depositing Money” in the Cailu community.Review link: https://preview.redd.it/47prnpkv8cz41.png?width=1080&format=png&auto=webp&s=5baa2e06ec09ecdd60adb609bac247333059c016 2.TokenClub Live 1) Summary Recently, Feng Yuqing, the director of Yicai Global America, the first Chinese reporter to interview Buffett, the organizer & host of the First Financial New York Forum; a world-renowned financial expert, a professor of finance at the Cheung Kong Graduate School of Business, and the director of the finance department -Cao Huining; ARPA founder Felix, SWFT Blockchain one-stop currency exchange cross-chain platform operation in Greater China & BD leader-Ye Fei, mining big man Binxin Mining CEO “Feige”, contract emperor co-founder Xiaoding, AlchemyPay co-founder Shi Xiang, financial expert & first-line trader Xu Zhe, Huobi Key Account Manager-Xiaotong, Roark Group & Bitribe & 499 Block founder sky, Cobo co-founder Shenyu, DappReview CEO Niu Fengxuan, IOST co-founder Terry; and TokenClub blockchain and cryptocurrency investment strategy senior expert-Zao Shen talks with you about the blockchain ~ On May 6, Block 101 Sisi Dialogue Felix, the founder of the hard-core technical team on the blockchain, ARPA Felix, the theme is “The Wall Street Battle of the Wall Street Elite”. In this live dialogue, the resume is dazzling. , The young man who was free to switch between “Yangchun Baixue” and “earthed gas” from the team’s initial heart chat to his investment strategy to the judgment of the entire currency market, his fanaticism of rock seems to explain a series of “adventure” options- — Longing for a more free and innovative world. https://preview.redd.it/7fahx79x8cz41.png?width=1080&format=png&auto=webp&s=b0282a4fb4730d2898b15326d42e0460a3b92f10 On May 6th, TokenClub invited the one-stop SWFT Blockchain currency exchange cross-chain platform Greater China operation & BD leader-Ye Fei as a guest to “Jingjing at 8 o’clock” live broadcast, bringing us “flash exchange in the future block The theme of “Chain Payment Ecosystem” is shared. Mr. Ye made a detailed interpretation of SWFTC, and revealed the development plan of SWFTC, and exchanged questions and answers with fans enthusiastically. https://preview.redd.it/27thi7cy8cz41.png?width=1080&format=png&auto=webp&s=df20cc7176e671942d85edf6b0790c0b8020663f On May 7th, Block 101 Luna talked to the CEO of the mining industry, who is most familiar with KTV, Kexin Mining, “Fei Ge”. Liu Fei talked to Bin An Luna, he counted his mining “stepping on the pit road” “, Talking about halving the market and investment experience, talking to the second half, wearing a red Polo shirt, he began to persuade everyone to learn more in the KTV in Beijing at night, and recommended books. https://preview.redd.it/4nhtp1sz8cz41.png?width=1080&format=png&auto=webp&s=03b8e1da731eefd1d57f65e3d1fa337e7eaafd66 On May 8, the TokenClub live column-”Professor had an appointment” shared the theme: “BOC crude oil treasure and financial derivatives market”. In this issue, Professor Cao invited the first U.S. Global Director of the United States, the first Chinese reporter to interview Buffett, the organizer & host of the First Financial New York Forum, and Columbia University Master of International Relations Feng Yuqing to share with guests on Chain, digital currency financial derivatives market, etc. have done a detailed exchange analysis. https://preview.redd.it/4zgaxsw09cz41.png?width=1080&format=png&auto=webp&s=a88fc93057a631cc152b225dfb186385abaffbd6 On May 8th, block 101 was led by Binance BD’s head Li Jiayi, who talked about contract emperor co-founder Xiao Dingdang. He is an old code farmer who is known for his futures contract operations. He wrote a 10-year code, and the front end Everyone is familiar with it, and it is hard to say anything on the line of speech. Frankly, he talked from his fortune history to the story of the endless number of contract circles, and shared his trading iron law with everyone: there must be a stop loss; must practice more and try more. https://preview.redd.it/90hyrg639cz41.png?width=1080&format=png&auto=webp&s=ded092ee130fa72d7b38e2ee9ca9b4d67d382c71 On May 9th, Zaoshen is coming ~ The sharing theme of this issue is: The Yangtze River will push back and forth, and one wave will be more than one wave. Speaking of the “Houlang” hot event, Zao Shen mainly analyzed the halving market with everyone in detail, to see how many opportunities there are and what strategies to choose. Soul asked: How much money did you make in this wave of quotes? https://preview.redd.it/dwh2ojp49cz41.png?width=1080&format=png&auto=webp&s=466850dcc4d01e49872b144e49369c859256a67c On May 11, Block 101 was discussed by Binance Qiqi Dialogue AlchemyPay co-founder Shi Xiang, the former vice president of Zhongan Technology and the founder of Micro Index shared with you the experience of dealing with overseas regulators: supervision is not actually strong Groups, regulation will strike you because you are worried about doing bad things, but as long as you are willing to actively communicate, regulation usually gives a tolerance period. For more content, please move to the live room. https://preview.redd.it/grgnfkw59cz41.png?width=1080&format=png&auto=webp&s=83afa9faf03d4da0b26fc85f9e0c562127ca9f83 May 12, Exclusive: Huobi Global & Knowing Daniel Interpretation of “Physical Currency, Debt Currency to Encrypted Digital Currency”. The key account manager of Huobi Global has a conversation with financial expert and front-line trader Xu Zhe, talking about physical currency, debt currency and encrypted digital currency. Work is tired enough, the market is already exciting enough, pick Xu Da Tucao various currencies, teach you to return all the money. The value of the young lady’s face is a feeling of emotion. https://preview.redd.it/8vsehsc79cz41.png?width=1080&format=png&auto=webp&s=b305df0b0c51b339ef109d8041da4ae05a7f7fd0 On May 12, Block 101 was founded by Binance Thinking, the founder of Roark Group, Bitribe, and 499Block. Sky, a science and technology man from Tsinghua University and MIT, has the title of “Coin Circle Zheng Kai”. Sky said that starting a business in the blockchain industry is like drifting in the turbulent Amazon River. If you do n’t believe that you will eventually reach the sea, you will be thrown off. Sky believes that Bitcoin is essentially a consensus based on time. Halving is like escaping the monsters, and each level increases the consensus. https://preview.redd.it/gc9mgni89cz41.png?width=1080&format=png&auto=webp&s=2842c60a520c27993f8b4d1c611e112514352482 On May 13th, Block 101 Luna talked to F2Pool and Cobo co-founder Shenyu, and talked about the “new” story of Bitcoin. Leo ’s Godfish talked to us about the monopoly of computing power, mining pool operations, halving and Cobo ’s future development goals. He said that 80–90% of personal assets are Bitcoin, and about 10% of Ethereum and other Strange coins from mining. It is called “the first segment of the coin circle” because “more pits are filled, so in the end each pit becomes a stalk.” https://preview.redd.it/rga6ean99cz41.png?width=1080&format=png&auto=webp&s=243c7aae2d8144621e913f3c8615465eea1d42e4 On May 14, Niu Fengxuan, CEO of DappReview, talked about “how ordinary people make money through Dapp”. Niu Fengxuan graduated from Fudan and Stanford. He is a serious game enthusiast. He has written many in-depth game evaluations and is an early participant of Dapp. He said that many people think that the biggest application of blockchain is speculation, but the technology ultimately serves products and applications. In the long run, if blockchain can really bring changes and innovations to the world technically, then it must be C-side users should feel it in a more friendly way in other fields. https://preview.redd.it/zx38u5qa9cz41.png?width=1080&format=png&auto=webp&s=da5a65164e1ee8a3b91e446bdce8c5c7e905990f On May 15th, Block 101 Yingge talked to IOST co-founder Terry and talked about “The Blockchain Ideal of Princeton Schoolmaster”. Terry told us about his sad history, happy history, and experience and experience of mining from college mining to graduate school to entrepreneurship, talked about the development direction of the blockchain market, and interacted with fans. https://preview.redd.it/uats2yqb9cz41.png?width=1080&format=png&auto=webp&s=aba5587f0a96b0e31b3b205ea0d7a48a03664dd5 On May 16th, senior expert Zao Shen brought a live broadcast on the theme of “Depth Is Insufficient In Operation, How To Play With Crash”. In this live broadcast, in addition to analyzing the macro level of the economy, Zao Shen also focused on sharing The specific operation skills emphasized the principle of buying and selling, and finally commented on the hot events such as the recent Federal Reserve announcement that it will not fall to negative interest rates. 3.TokenClub operation data -Live data: 13 live broadcasts in the past two weeks, with over 600,000 views. TokenClub hosted a total of 835 live broadcasts with a total of 44.25 million views. -Binary trade data: In the past two weeks, guess the rise and fall to participate in a total of 1060 times, the amount of participation exceeded 2 million TCT. At present, it is guessed that the rise and fall function has participated in a total of 1.11 million times, with a cumulative participation amount of 496 million TCT. -Chat data: In the past two weeks, a total of 28,950 messages have been generated. A total of 4.83 milliom messages have been launched since the function was launched. -Mini-game data: The mini-game has participated in a total of 7,830 times in the past two weeks. A total of 1,66 million self-functions have been online. -Cut leeks game data together: Since the game was launched, the total number of user participation in the game was 954,364 TCT total consumption was 6,27 million gift certificate total consumption was 15,53 million and TCT mining output was 160,48. -TokenClub KOL data: Over the past two weeks, the total reading volume of the BTCGrandpa article has been viewed by more than 300,000 people. -Social media data: At present, the number of Weibo official accounts is 17,972 and the number of Twitter followers is 1310, and we have opened the official Medium account this week, welcome to follow. -Telegram official group data: In the past 2 weeks, there were 310 chats in the group, and the total number of Telegram official groups is currently 2971. -Medium data: Medium official account u/TokenClub has published 1 excellent articles, official announcements and updates are published in English, welcome to follow. 4.Communities 1)Overseas community TokenClub held an event for forwarding Twitter and telegram group chats for overseas users. Bitcoin halved in less than two weeks, overseas users are more active in the telegram group, and some friends are more concerned about Binance Block 101 live broadcast, aggregation exchange, TCT usage and other issues, the administrator responded in time.On May 12th, when Bitcoin was halved, TokenClub organized a forwarding Twitter, telegram group chat prize event and participating in a live question asking interactive prize event for overseas users. There are many live broadcast events in the near future. The live broadcast poster information will be released to overseas users as soon as possible. The follow-up TokenClub will translate and broadcast high-quality live broadcast content to Twitter and Medium. Bitcoin halved, overseas users are more active in the telegram group, and some partners are more concerned about block 101 live broadcast, bitcoin future price trend, TCT usage and other issues, the administrator responded in time in the group. https://preview.redd.it/msi423re9cz41.png?width=1080&format=png&auto=webp&s=f0c453445cea34b8cba807e8bfa237dabfe9fb24 2)Domestic community Last Friday, a holiday, the community opened the red envelope rain event, and brought a sincere gift to everyone while relaxing in the holiday. At the same time, it also sent the most sincere blessings to all mothers in the community on Mother’s Day. Thank you for your long-term support and help to the Orange Club community. The third week of the second 100-day fixed investment plan held this week has been awarded. The participation of this event is still quite positive. This week, the bitcoin halving market was also opened in advance. If it starts according to the first day The small partners participating in the fixed investment should now have a certain floating win, so we adopt the correct cycle investment strategy to believe that it can bring unexpected benefits to everyone. On May 9th and May 16th, TCT Fortune Free Academy carried out red envelope party activities as scheduled. In the event, in addition to GF red envelopes, students were reminded that there may be a callback risk after the pie halving, and short-term profits are available. On the evening of May 3rd and May 10th, TCT Fortune Free Academy carried out the 51st and 52nd week sign-in sweepstakes, and rewarded the small TCT partners who had always insisted on signing in. In these two sign-in sweepstakes, the lucky friends received 20–180TCT as a reward. In addition, during the lucky draw, the college friends also actively expressed their opinions on the topic of this year’s bull market. The Leek Paradise Community Conference will continue as usual every Sunday at 20:00. During the conference, members will discuss recent hot topics, including gifts and blessings for Mother ’s Day, and the halving of Bitcoin everyone is paying attention to. At the end, the friends in the group also showed a rare enthusiasm at the first sight. It seems that the market still affects the mood. The members routinely started a red envelope rain to cheer for the participating partners and encourage everyone to maintain patience and confidence. Of course, at the same time, we are encouraging ourselves to see the community meeting next week. Come on! TokenClub volunteer community, sign in red envelopes every day, as long as you sign in every day, you can get good benefits, friends join us quickly! In the past two weeks, the community has conducted active partners. TCT has been listed on Binance、Okex、Gate.io、ZB-M、MXC、Biki、Coinex、BigOne、Coinbene、Cybex、SWFT、Loopring、Rootrex etc. TokenClub website: www.tokenclub.com Telegram：https://t.me/token\_club TokenClub App download QR code https://preview.redd.it/59o55ojn9cz41.png?width=560&format=png&auto=webp&s=b3b3f69f59d6f25c87319d7e9331435e36e27ba7
A couple of years ago in the early months of the 2017, I published a piece called Abundance Via Cryptocurrencies (https://www.reddit.com/C\_S\_T/comments/69d12a/abundance\_via\_cryptocurrencies/) in which I kind of foresaw the crypto boom that had bitcoin go from $1k to $21k and the alt-coin economy swell up to have more than 60% of the bitcoin market capitalisation. At the time, I spoke of coming out from “the Pit” of conspiracy research and that I was a bit suss on bitcoin’s inception story. At the time I really didn’t see the scaling solution being put forward as being satisfactory and the progress on bitcoin seemed stifled by the politics of the social consensus on an open source protocol so I was looking into alt coins that I thought could perhaps improve upon the shortcomings of bitcoin. In the thread I made someone recommended to have a look at 4chan’s business and finance board. I did end up taking a look at it just as the bull market started to really surge. I found myself in a sea of anonymous posters who threw out all kinds of info and memes about the hundreds, thousands, tens of thousands of different shitcoins and why they’re all going to have lambos on the moon. I got right in to it, I loved the idea of filtering through all the shitposts and finding the nuggest of truth amongst it all and was deeply immersed in it all as the price of bitcoin surged 20x and alt coins surged 5-10 times against bitcoin themselves. This meant there were many people who chucked in a few grand and bought a stash of alt coins that they thought were gonna be the next big thing and some people ended up with “portfolios” 100-1000x times their initial investment. To explain what it’s like to be on an anonymous business and finance board populated with incel neets, nazis, capitalist shit posters, autistic geniuses and whoever the hell else was using the board for shilling their coins during a 100x run up is impossible. It’s hilarious, dark, absurd, exciting and ultimately addictive as fuck. You have this app called blockfolio that you check every couple of minutes to see the little green percentages and the neat graphs of your value in dollars or bitcoin over day, week, month or year. Despite my years in the pit researching conspiracy, and my being suss on bitcoin in general I wasn’t anywhere near as distrustful as I should have been of an anonymous business and finance board and although I do genuinely think there are good people out there who are sharing information with one another in good faith and feel very grateful to the anons that have taken their time to write up quality content to educate people they don’t know, I wasn’t really prepared for the level of organisation and sophistication of the efforts groups would go to to deceive in this space. Over the course of my time in there I watched my portfolio grow to ridiculous numbers relative to what I put in but I could never really bring myself to sell at the top of a pump as I always felt I had done my research on a coin and wanted to hold it for a long time so why would I sell? After some time though I would read about something new or I would find out of dodgy relationships of a coin I had and would want to exit my position and then I would rebalance my portfolio in to a coin I thought was either technologically superior or didn’t have the nefarious connections to people I had come across doing conspiracy research. Because I had been right in to the conspiracy and the decentralisation tropes I guess I always carried a bit of an antiauthoritarian/anarchist bias and despite participating in a ridiculously capitalistic market, was kind of against capitalism and looking to a blockchain protocol to support something along the lines of an open source anarchosyndicalist cryptocommune. I told myself I was investing in the tech and believed in the collective endeavour of the open source project and ultimately had faith some mysterious “they” would develop a protocol that would emancipate us from this debt slavery complex. As I became more and more aware of how to spot artificial discussion on the chans, I began to seek out further some of the radical projects like vtorrent and skycoin and I guess became a bit carried away from being amidst such ridiculous overt shilling as on the boards so that if you look in my post history you can even see me promoting some of these coins to communities I thought might be sympathetic to their use case. I didn’t see it at the time because I always thought I was holding the coins with the best tech and wanted to ride them up as an investor who believed in them, but this kind of promotion is ultimately just part of a mentality that’s pervasive to the cryptocurrency “community” that insists because it is a decentralised project you have to in a way volunteer to inform people about the coin since the more decentralised ones without premines or DAO structures don’t have marketing budgets, or don’t have marketing teams. In the guise of cultivating a community, groups form together on social media platforms like slack, discord, telegram, twitter and ‘vote’ for different proposals, donate funds to various boards/foundations that are set up to give a “roadmap” for the coins path to greatness and organise marketing efforts on places like reddit, the chans, twitter. That’s for the more grass roots ones at least, there are many that were started as a fork of another coin, or a ICO, airdrop or all these different ways of disseminating a new cryptocurrency or raising funding for promising to develop one. Imagine the operations that can be run by a team that raised millions, hundreds of millions or even billions of dollars on their ICOs, especially if they are working in conjunction with a new niche of cryptocurrency media that’s all nepotistic and incestuous. About a year and a half ago I published another piece called “Bitcoin is about to be dethroned” (https://www.reddit.com/C\_S\_T/comments/7ewmuu/bitcoin\_is\_about\_to\_be\_dethroned/) where I felt I had come to realise the scaling debate had been corrupted by a company called Blockstream and they had been paying for social media operations in a fashion not to dissimilar to correct the record or such to control the narrative around the scaling debate and then through deceit and manipulation curated an apparent consensus around their narrative and hijacked the bitcoin name and ticker (BTC). I read the post again just before posting this and decided to refer to it to to add some kind of continuity to my story and hopefully save me writing so much out. Looking back on something you wrote is always a bit cringey especially because I can see that although I had made it a premise post, I was acting pretty confident that I was right and my tongue was acidic because of so much combating of shills on /biz/ but despite the fact I was wrong about the timing I stand by much of what I wrote then and want to expand upon it a bit more now. The fork of the bitcoin protocol in to bitcoin core (BTC) and bitcoin cash (BCH) is the biggest value fork of the many that have occurred. There were a few others that forked off from the core chain that haven’t had any kind of attention put on them, positive or negative and I guess just keep chugging away as their own implementation. The bitcoin cash chain was supposed to be the camp that backed on chain scaling in the debate, but it turned out not everyone was entirely on board with that and some players/hashpower felt it was better to do a layer two type solution themselves although with bigger blocks servicing the second layer. Throughout what was now emerging as a debate within the BCH camp, Craig Wright and Calvin Ayre of Coin Geek said they were going to support massive on chain scaling, do a node implementation that would aim to restore bitcoin back to the 0.1.0 release which had all kinds of functionality included in it that had later been stripped by Core developers over the years and plan to bankrupt the people from Core who changed their mind on agreeing with on-chain scaling. This lead to a fork off the BCH chain in to bitcoin satoshis vision (BSV) and bitcoin cash ABC. https://bitstagram.bitdb.network/m/raw/cbb50c322a2a89f3c627e1680a3f40d4ad3cee5a3fb153e5d6d001bdf85de404 The premise for this post is that Craig S Wright was Satoshi Nakamoto. It’s an interesting premise because depending upon your frame of reference the premise may either be a fact or to some too outrageous to even believe as a premise. Yesterday it was announced via CoinGeek that Craig Steven Wright has been granted the copyright claim for both the bitcoin white-paper under the pen name Satoshi Nakamoto and the original 0.1.0 bitcoin software (both of which were marked (c) copyright of satoshi nakamoto. The reactions to the news can kind of be classified in to four different reactions. Those who heard it and rejected it, those who heard it but remained undecided, those who heard it and accepted it, and those who already believed he was. Apparently to many the price was unexpected and such a revelation wasn’t exactly priced in to the market with the price immediately pumping nearly 100% upon the news breaking. However, to some others it was a vindication of something they already believed. This is an interesting phenomena to observe. For many years now I have always occupied a somewhat positively contrarian position to the default narrative put forward to things so it’s not entirely surprising that I find myself in a camp that holds the minority opinion. As you can see in the bitcoin dethroned piece I called Craig fake satoshi, but over the last year and bit I investigated the story around Craig and came to my conclusion that I believed him to be at least a major part of a team of people who worked on the protocol I have to admit that through reading his articles, I have kind of been brought full circle to where my contrarian opinion has me becoming somewhat of an advocate for “the system’. https://coingeek.com/bitcoin-creator-craig-s-wright-satoshi-nakamoto-granted-us-copyright-registrations-for-bitcoin-white-paper-and-code/ When the news dropped, many took to social media to see what everyone was saying about it. On /biz/ a barrage of threads popped up discussing it with many celebrating and many rejecting the significance of such a copyright claim being granted. Immediately in nearly every thread there was a posting of an image of a person from twitter claiming that registering for copyright is an easy process that’s granted automatically unless challenged and so it doesn’t mean anything. This was enough for many to convince them of the insignificance of the revelation because of the comment from a person who claimed to have authority on twitter. Others chimed in to add that in fact there was a review of the copyright registration especially in high profile instances and these reviewers were satisfied with the evidence provided by Craig for the claim. At the moment Craig is being sued by Ira Kleiman for an amount of bitcoin that he believes he is entitled to because of Craig and Ira’s brother Dave working together on bitcoin. He is also engaged in suing a number of people from the cryptocurrency community for libel and defamation after they continued to use their social media/influencer positions to call him a fraud and a liar. He also has a number of patents lodged through his company nChain that are related to blockchain technologies. This has many people up in arms because in their mind Satoshi was part of a cypherpunk movement, wanted anonymity, endorsed what they believed to be an anti state and open source technologies and would use cryptography rather than court to prove his identity and would have no interest in patents. https://bitstagram.bitdb.network/m/raw/1fce34a7004759f8db16b2ae9678e9c6db434ff2e399f59b5a537f72eff2c1a1 https://imgur.com/a/aANAsL3) If you listen to Craig with an open mind, what cannot be denied is the man is bloody smart. Whether he is honest or not is up to you to decide, but personally I try to give everyone the benefit of the doubt and then cut them off if i find them to be dishonest. What I haven’t really been able to do with my investigation of craig is cut him off. There have been many moments where I disagree with what he has had to say but I don’t think people having an opinion about something that I believe to be incorrect is the same as being a dishonest person. It’s very important to distinguish the two and if you are unable to do so there is a very real risk of you projecting expectations or ideals upon someone based off your ideas of who they are. Many times if someone is telling the truth but you don’t understand it, instead of acknowledging you don’t understand it, you label them as being stupid or dishonest. I think that has happened to an extreme extent with Craig. Let’s take for example the moment when someone in the slack channel asked Craig if he had had his IQ tested and what it was. Craig replied with 179. The vast majority of people on the internet have heard someone quote their IQ before in an argument or the IQ of others and to hear someone say such a score that is actually 6 standard deviations away from the mean score (so probably something like 1/100 000) immediately makes them reject it on the grounds of probability. Craig admits that he’s not the best with people and having worked with/taught many high functioning people (sometimes on the spectrum perhaps) on complex anatomical and physiological systems I have seen some that also share the same difficulties in relating to people and reconciling their genius and understandings with more average intelligences. Before rejecting his claim outright because we don’t understand much of what he says, it would be prudent to first check is there any evidence that may lend support to his claim of a one in a million intelligence quotient. Craig has mentioned on a number of occasions that he holds a number of different degrees and certifications in relation to law, cryptography, statistics, mathematics, economics, theology, computer science, information technology/security. I guess that does sound like something someone with an extremely high intelligence could achieve. Now I haven’t validated all of them but from a simple check on Charles Sturt’s alumni portal using his birthday of 23rd of October 1970 we can see that he does in fact have 3 Masters and a PhD from Charles Sturt. Other pictures I have seen from his office at nChain have degrees in frames on the wall and a developer published a video titled Craig Wright is a Genius with 17 degrees where he went and validated at least 8 of them I believe. He is recently publishing his Doctorate of Theology through an on-chain social media page that you have to pay a little bit for access to sections of his thesis. It’s titled the gnarled roots of creation. He has also mentioned on a number of occasions his vast industry experience as both a security contractor and business owner. An archive from his LinkedIn can be seen below as well. LinkedIn - https://archive.is/Q66Gl https://youtu.be/nXdkczX5mR0 - Craig Wright is a Genius with 17 Degrees https://www.yours.org/content/gnarled-roots-of-a-creation-mythos-45e69558fae0 - Gnarled Roots of Creation. In fact here is an on chain collection of articles and videos relating to Craig called the library of craig - https://www.bitpaste.app/tx/94b361b205196560d1bd09e4e3b3ec7ad6bea478af204cabfe243efd8fc944dd So there is a guy with 17 degrees, a self professed one in a hundred thousand IQ, who’s worked for Australian Federal Police, ASIO, NSA, NASA, ASX. He’s been in Royal Australian Air Force, operated a number of businesses in Australia, published half a dozen academic papers on networks, cryptography, security, taught machine learning and digital forensics at a number of universities and then another few hundred short articles on medium about his work in these various domains, has filed allegedly 700 patents on blockchain related technology that he is going to release on bitcoin sv, copyrighted the name so that he may prevent other competing protocols from using the brand name, that is telling you he is the guy that invented the technology that he has a whole host of other circumstantial evidence to support that, but people won’t believe that because they saw something that a talking head on twitter posted or that a Core Developer said, or a random document that appears online with a C S Wright signature on it that lists access to an address that is actually related to Roger Ver, that’s enough to write him off as a scam. Even then when he publishes a photo of the paper copy which appears to supersede the scanned one, people still don’t readjust their positions on the matter and resort back to “all he has to do is move the coins or sign a tx”. https://imgur.com/urJbe10 Yes Craig was on the Cypherpunk mailing list back in the day, but that doesn’t mean that he was or is an anarchist. Or that he shares the same ideas that Code Is Law that many from the crypto community like to espouse. I myself have definitely been someone to parrot the phrase myself before reading lots of Craig’s articles and trying to understand where he is coming from. What I have come to learn from listening and reading the man, is that although I might be fed up with the systems we have in place, they still exist to perform important functions within society and because of that the tools we develop to serve us have to exist within that preexisting legal and social framework in order for them to have any chance at achieving global success in replacing fiat money with the first mathematically provably scarce commodity. He says he designed bitcoin to be an immutable data ledger where everyone is forced to be honest, and economically disincentivised to perform attacks within the network because of the logs kept in a Write Once Read Many (WORM) ledger with hierarchical cryptographic keys. In doing so you eliminate 99% of cyber crime, create transparent DAO type organisations that can be audited and fully compliant with legislature that’s developed by policy that comes from direct democratic voting software. Everyone who wants anonymous coins wants to have them so they can do dishonest things, illegal things, buy drugs, launder money, avoid taxes. Now this triggers me a fair bit as someone who has bought drugs online, who probably hasn’t paid enough tax, who has done illegal things contemplating what it means to have that kind of an evidence ledger, and contemplate a reality where there are anonymous cryptocurrencies, where massive corporations continue to be able to avoid taxes, or where methamphetamine can be sold by the tonne, or where people can be bought and sold. This is the reality of creating technologies that can enable and empower criminals. I know some criminals and regard them as very good friends, but I know there are some criminals that I do not wish to know at all. I know there are people that do horrific things in the world and I know that something that makes it easier for them is having access to funds or the ability to move money around without being detected. I know arms, drugs and people are some of the biggest markets in the world, I know there is more than $50 trillion dollars siphoned in to off shore tax havens from the value generated as the product of human creativity in the economy and how much human charity is squandered through the NGO apparatus. I could go on and on about the crappy things happening in the world but I can also imagine them getting a lot worse with an anonymous cryptocurrency. Not to say that I don’t think there shouldn’t be an anonymous cryptocurrency. If someone makes one that works, they make one that works. Maybe they get to exist for a little while as a honeypot or if they can operate outside the law successfully longer, but bitcoin itself shouldn’t be one. There should be something a level playing field for honest people to interact with sound money. And if they operate within the law, then they will have more than adequate privacy, just they will leave immutable evidence for every transaction that can be used as evidence to build a case against you committing a crime. His claim is that all the people that are protesting the loudest about him being Satoshi are all the people that are engaged in dishonest business or that have a vested interest in there not being one singular global ledger but rather a whole myriad of alternative currencies that can be pumped and dumped against one another, have all kinds of financial instruments applied to them like futures and then have these exchanges and custodial services not doing any Know Your Customer (KYC) or Anti Money Laundering (AML) processes. Bitcoin SV was delisted by a number of exchanges recently after Craig launched legal action at some twitter crypto influencetalking heads who had continued to call him a fraud and then didn’t back down when the CEO of one of the biggest crypto exchanges told him to drop the case or he would delist his coin. The trolls of twitter all chimed in in support of those who have now been served with papers for defamation and libel and Craig even put out a bitcoin reward for a DOX on one of the people who had been particularly abusive to him on twitter. A big european exchange then conducted a twitter poll to determine whether or not BSV should be delisted as either (yes, it’s toxic or no) and when a few hundred votes were in favour of delisting it (which can be bought for a couple of bucks/100 votes). Shortly after Craig was delisted, news began to break of a US dollar stable coin called USDT potentially not being fully solvent for it’s apparent 1:1 backing of the token to dollars in the bank. Binance suffered an alleged exchange hack with 7000 BTC “stolen” and the site suspending withdrawals and deposits for a week. Binance holds 800m USDT for their US dollar markets and immediately once the deposits and withdrawals were suspended there was a massive pump for BTC in the USDT markets as people sought to exit their potentially not 1:1 backed token for bitcoin. The CEO of this exchange has the business registered out of Malta, no physical premises, the CEO stays hotel room to hotel room around the world, has all kind of trading competitions and the binance launchpad, uses an unregistered security to collect fees ($450m during the bear market) from the trading of the hundreds of coins that it lists on its exchange and has no regard for AML and KYC laws. Craig said he himself was able to create 100 gmail accounts in a day and create binance accounts with each of those gmail accounts and from the same wallet, deposit and withdraw 1 bitcoin into each of those in one day ($8000 x 100) without facing any restrictions or triggering any alerts or such. This post could ramble on for ever and ever exposing the complexities of the rabbit hole but I wanted to offer some perspective on what’s been happening in the space. What is being built on the bitcoin SV blockchain is something that I can only partially comprehend but even from my limited understanding of what it is to become, I can see that the entirety of the crypto community is extremely threatened as it renders all the various alt coins and alt coin exchanges obsolete. It makes criminals play by the rules, it removes any power from the developer groups and turns the blockchain and the miners in to economies of scale where the blockchain acts as a serverless database, the miners provide computational resources/storage/RAM and you interact with a virtual machine through a monitor and keyboard plugged in to an ethernet port. It will be like something that takes us from a type 0 to a type 1 civilisation. There are many that like to keep us in the quagmire of corruption and criminality as it lines their pockets. Much much more can be read about the Cartel in crypto in the archive below. Is it possible this cartel has the resources to mount such a successful psychological operation on the cryptocurrency community that they manage to convince everyone that Craig is the bad guy, when he’s the only one calling for regulation, the application of the law, the storage of immutable records onchain to comply with banking secrecy laws, for Global Sound Money? https://archive.fo/lk1lH#selection-3671.46-3671.55 Please note, where possible, images were uploaded onto the bitcoin sv blockchain through bitstagram paying about 10c a pop. If I wished I could then use an application etch and archive this post to the chain to be immutably stored. If this publishing forum was on chain too it would mean that when I do the archive the images that are in the bitstragram links (but stored in the bitcoin blockchain/database already) could be referenced in the archive by their txid so that they don’t have to be stored again and thus bringing the cost of the archive down to only the html and css.
Following up on my other post which shared only a few high level points I thought people would be interested in, here's a more in-depth summary of the meetup. THIS IS VERY LONG! I don't really have a TL;DR beyond my other short highlight thread, but I think there are some other high level summaries. This is for those who want a very thorough recap of what was discussed. I'm happy to update this with anything shared in the comments which I remember and think is additive to the summary, definitely didn't catch every single thing. I'm leaving out a few talking points/questions that either 1) I didn't totally catch, 2) provided no incremental information or 3) were just bad questions (there were some). Sunny's Speech Sunny began with a history of blockchain, from the bitcoin whitepaper to the first few alt coins to the advent of Ethereum. He then went on to discuss the extent to which these various stages involved meaningful/useful innovation: original alt coins did not, ethereum of course did, but is heavily flawed for enterprise use. He then went on to discuss what those primary flaws are and how VeChain is trying to solve them (scalability, governance, cost, etc.) He noted that technology is not blockchain's biggest obstacle, it's adoption. He talked about how, although some people will tell him to "get lost or something" he doesn't really believe in full decentralization. I think his point was that although it's nice in theory, it just isn't really practical, and it's a bad approach in particular for trying to get this new blockchain technology adopted in the mainstream. This goes back to something he said in another interview at some point - you can't just come in with totally new, radical technology outside the existing framework and replace everything that exists from the outside. You have to start within the existing framework, show people what's possible, and then change the system from the inside out. He went on to discuss what he sees as problems with some of the existing projects. Talked about how projects in the top 20 have ecosystems worth 2 billion dollars, hold hundreds of millions of dollars worth of their own tokens to be used for the project's development etc., but they don't have a CFO. He thinks that should concern people. I don't remember exactly where it fit in the narrative, but he discussed valuation/speculation. He pointed out that they have a number of their university research partners trying to work out token valuation models. He made a general point that more utility should equal more value, the implication being VeChain will have more real utility (and should therefore have more value) than any other blockchain. They had a slide showing some calculations and pointed out that if you look at the known metrics, the dividends, etc., the price of Google's stock is 85.7% speculation. Only $161 of it's $1,128 value (at the time they ran these numbers) can be tied to the current value. For Tencent, it's 93.5% speculation. He jokingly pointed out that in crypto it's about 99.99%, but I think one of the unspoken points here is that it's silly to think that on mainnet launch speculation about the future value is going to go away and you'll just have token value based on current Thor production. That isn't how markets or valuation work. He then basically mocked people complaining about the code not yet being open source, and there being no whitepaper - the people who think these are red flags and that the project might be a 'scam'. As if PwC and DNV GL didn't do extensive diligence. On this point, I'll quote GarzyWarzy from another thread: "Sunny mentioned that the crypto community as a whole doesn’t seem to appreciate the level of reputational risk that these multi billion dollar enterprise partners take by publicly backing a blockchain startup (“what do people think would happen if PwC backed us and we failed in 6 months?”). As an investment banker who deals extensively with corporate governance issues and every type of business risk imaginable, I will add my two cents that this risk is massive and that is it a clear sign of extensive diligence and extreme trust in the VeChain team to execute their business plan for developing their ecosystem. Always remember, “it takes many years to build a reputation, and seconds to ruin it”." I'm a corporate lawyer and couldn't agree with this more. The people who think a whitepaper (which they likely wouldn't even understand) is more reassuring than the endorsement by DNV GL, PwC, Draper and Breyer (who would never, ever make such an investment without extensive due diligence) have no idea how things work in the corporate world. DNV GL and PwC are recommending VeChain to clients, and Draper and Breyer have made investments through their funds, where they have a fiduciary duty to the investors in those funds. The amount of diligence that occurs before taking those reputational and legal (negligence, breach of fiduciary duty, etc.) risks is truly exhaustive. Back to adoption, Sunny went on to compare blockchain to TCP/IP, as he's done in the past. Most people use email every day, but do they care about TCP/IP? Of course not. Blockchain will be the protocol infrastructure for things people use every day, whether they know it or not. At this point, continuing to talk about adoption and use cases, he mentioned that they signed a top 3 insurance company in China as a client, and he also mentioned a CRM use case that's in the works. He said the whitepaper will be out in a few days, and will explain a lot of what they're doing/what they're trying to do, and what some of the use cases are. They are focused on developing as many practical use cases as possible - this is how you get adoption. Once the use cases are defined, you can start "developing killer dApps" in relation to them. I think this is, to some degree, a subtle shot at Ethereum - his point here being that developing lots of dApps on a platform doesn't really mean much unless those dApps actually relate to a practical, defined real world use cases which ensures they will be used and adopted. The whitepaper took so long because, in Sunny's words, his "english sucks" and after he wrote it, his teams needed to double, triple, and quadruple review/edit/refine what he wrote so that it is in professional english. Back to adoption, he stated there are around 13/14 crypto projects they are working with who intend to use VeChain (either porting over from Ethereum or launching an ICO on the platform. More on this in the Q&A section). One of them is a company that already generates $50 million/month in revenue and want to 'blockchain-ize' their business. He pointed out here this is a company that isn't just interested in padding their coffers - they have money, that isn't an issue. These are the types of projects they like to work with. They aren't interested in being a 'shitcoin generator' (this was said by Sunny in the Q&A and got a laugh and round of applause). Last point on this, he noted that BitOcean is taking so long because the "Japanese government are being assholes". That's a direct quote. Sunny is hilarious. I can't overstate how likable he is - he comes off as a down to earth, cool, funny and easy going guy. Kevin's Speech Next, Kevin spoke. This was a short update on authority nodes and the mainnet. He mentioned that most projects have masternodes as basically a marketing tool, they aren't that meaningful or necessary. VeChain's authority masternodes are essential to the ecosystem. You can not become an authority node if you can not meaningfully contribute to growing the ecosystem. There is no room for negotiation on this. They aren't interested in having random people running validating authority nodes for profit and nothing else. As far as the application process, they received over 100 applications and are expecting more (authority node application and monitoring process will be ongoing to make sure VeChain has the best authority nodes possible and that each node is continuing to fulfill all of its obligations). As far as the applicant pool, they were about 71% enterprise, 29% individual. About 52% China, 23% America, then a mix of HK, Singapore, Japan, and others. He then addressed the mainnet. Internal testing is done, they are now moving on to the public alpha testing, which is by invite only and is not the open source phase. This phase starts today and includes a number of professional firms auditing the code: PwC's cybersecurity team, secureware.io, Slow Mist, and Hosho. They will also be putting a bug bounty on Hacken eventually, finding a critical vulnerability could get you up to 2000 VEN tokens. This private testing will go on for a few weeks, before the public testing begins in early June which involves the code becoming open source - as of now, they expect it to start in the first week or two of June. Then, he announced the 1 VEN to 100 VET token split. The example he gave was talking to friends about buying Bitcoin - some responded "it's already $8000, I can't buy a bitcoin I can't afford it". Kevin would respond, well actually you can buy .001 bitcoin if you want... and then they'd lose interest. I think what he's getting at is they want to be prepared for years down the road when demand is enormous - they don't want people dealing in fractions. Yes, I'm also sure they are aware of the implications for this in terms of price and the attractiveness of a 5 cent token verses a 5 dollar token. I don't deny that. Look at fucking Tron. The Q&A Session Someone asked about how the authority nodes will be monitored. Kevin explained there will be a dedicated team for this. They are serious about having the highest quality authority nodes and holding them to the standards they expect. There will be a quarterly review process, and any issues will be brought to the Steering Committee, which may decide to remove/replace an authority nodeholder if they aren't contributing and fulfilling their obligations. He noted that the whitepaper will include a thorough section on their governance model. Question about it being difficult, currently, for companies (especially in the west) to find out how to contact them and work with them. What are VeChain's plans in terms of a business development team, marketing, etc. Sunny explained that while obviously they'll have an internal BD team, and this is being built out, they also want to heavily leverage the resources of the community. In a way, the community will be a giant business development team, and they will create standard toolkits for the community to use to market/introduce VeChain to people in the first instance. The guy then asked what if I got you Pfizer - that's enormous, what's my incentive? Sunny responded there will be rewards in VET tokens for bringing them clients. I don't remember what the exact question was, but it was noted at this point that although the private, consortium chain is an Ethereum fork, the mainnet was built from scratch and is not an Ethereum fork. They did intentionally use the Ethereum Virtual Machine, though, so that Ethereum dApps can be easily ported over to VeChain. It sounds like they expect this to happen quite a bit. They also talked about how they went through the web3 libraries and 80% will be able to work directly with VeChain. They want interoperability, compatibility, and ultimately, an easy transition for Ethereum developers and dApps. Someone asked about them building out their own IoT business or letting others do the IoT work. Sunny talked about how he believes IoT is the way to connect blockchain to the physical world. There was a story not worth sharing about why they initially acquired an IoT team, but he gave this example: when Apple first released the app store and the ability to develop, nobody knew how or used it. So, Apple built the apps themselves and basically showed everybody what was possible and how to do it by example. So too will VeChain take this approach. They are partnering with IoT manufacturers and developing some of their own IoT solutions, and they'll continue to do this, but the point isn't to dominate IoT. They are showing the world by example what can be done in terms of IoT on the VeChain platform, and they ultimately want people/enterprises to be able to create their own value and their own IoT solutions on the VeChain blockchain. Anyone who wants to do so will be able to. Question about enterprises buying once the enterprise pool runs out - what happens if enterprises aren't comfortable doing what all of us have done (wiring money to a fiat gateway exchange, buying bitcoin/ethereum, moving it to binance, buying in the market, transferring out of binance, etc.). Kevin isn't really worried about this. They are talking to exchanges and service providers about it, they're talking to Circle about fiat pairing, etc., but realistically Kevin can see that exchanges are becoming more advanced and that ultimately they will be institutionalized in a way that basically just mitigates this concern. Question about storage of VET tokens after mainnet. There will be a mobile wallet launch at the exact same time. This mobile wallet will 1) facilitate the token swap from VEN to VET (most people will probably do this on exchanges, but eventually you'll be able to do it in the mobile wallet if you missed doing it on an exchange), 2) have a module that shows you what kind of node you are, 3) automatically receive your generated Thor, and 4) eventually allow you to hold other ERC-20 tokens. They also mentioned that although they're talking to ledger, etc. they are developing their own hardware wallet. Kevin explained this is essential for enterprises serving as authority nodes or holding large amounts of VET. They aren't going online and ordering a ledger and setting it up. VeChain needs to be able to provide this service and assurance for them, and they will. This is why these guys are lightyears ahead in terms of enterprise adoption. They've thought about these things. Question about 'competitors' like Waltonchain. First, Sunny goes "who?" and Kevin goes "what's Waltonchain?" But then Sunny went on by saying the "right" thing - there are no competitors in such a fledgling industry. He would love to hold hands with the other blockchain projects trying to do good things, and walk into the future together. He thinks projects can learn from each other and help each other. They aren't trying to crush competitors or beat anyone or anything like that. However, Sunny also jokingly asked "Seriously, why do people think Waltonchain is our competitor? We are what, 15th biggest project, and they are...?" He also went on to say that he is judging some competition or tech demo later this month on the 26th-28th, and that Waltonchain is the demo product. He thinks this is sort of funny, but also said if their product is great and the demo is good, there is no reason he wouldn't support them, vote for them, etc. Question about Breyer and Draper relationships. Draper is invested in many cryptocurrency projects and many companies, has tons of connections, and he gives VeChain a way of talking to all of those projects/companies. Breyer was the one who set them up with the research team at a Chinese university, he was the link to Circle to discuss fiat onramps, etc. The connections these guys bring are tremendous. I should note here that in a small group conversation with Kevin during the networking portion after the speeches, which was initiated by GarzyWarzy (perhaps he can elaborate further), he confirmed that Breyer and Draper are both meaningfully invested in tokens, not just equity of the technology portion of the company. Some clown actually used up time to ask "is CCK here?" Sunny said someone asked him this at Harvard also, and he was absolutely adamant that he doesn't know who this person is or how they are getting the information they have. He did not comment on it beyond that. He clearly thought it was a dumb question and said seriously that once and for all, he really doesn't know who it is. Question about how many projects will be running on the mainnet day 1. Sunny said it's hard to say for sure, but that there are currently between 20 and 25 use cases deployed on the consortium chain, all of which will be moved over in the first few months. He also mentioned the 15ish crypto projects that will be moving over to or launching on the platform, and the fact that their client pipeline is now over 250. He transitioned a bit from this point to discuss how they "don't want to be a shitcoin generator". If you come to them with a project that is just an ICO with a whitepaper and no product, no proof of concept, etc., they're not going to want you to launch that. They would rather invest in you if they think you're a good project, help you develop those things, prove out what you're trying to do, then help you launch a serious ICO or dApp with a real use case. Again, they are all about practical use cases, this is the path to adoption. That said, the project will be open source ("you guys asked for open source, so") there will be some shitcoins, it's unavoidable. I think that covers most of what I remember. Hope you all enjoy!
Nauticus — An independent cryptocurrency ICO review from thecoinradar.com
Nauticus — An independent cryptocurrency ICO review from thecoinradar.com An independent cryptocurrency ICO review from thecoinradar.com Overview In a climate where blockchain technology is constantly evolving and the digital economy takes the world by storm, a new very ambitious project emerges from Melbourne, Australia. Nauticus strives to establish itself as one of the market leaders by enhancing the cryptocurrency exchange eco-system and simplifying the global crypto / fiat payment process. Nauticus is a project with 6 clear stages to implement over the next 5 years. Their clearly defined milestones in their roadmap demonstrate a clear goal to become a leading enterprise within the crypto space over the coming years. At its heart the Nauticus vision is to create ‘Better banking and eCommerce using blockchain technology.’ We ask the question: will they be able achieve their goals and most importantly, is the Nauticus ICO a worthy investment? Nauticus aims, goals, vision & roadmap In their first year Nauticus aims to provide a high speed, secure currency exchange with the goal of becoming a one stop shop for the consumer to trade a vast array of fiat and cryptocurrency options. A distinctive feature of the exchange is to enable users from all over the globe to pair their local currency against 100+ of the biggest cryptocurrencies. Nauticus will focus on high liquidity with low transaction fees. An impressive 7 fiat currencies pairing will be available on launch with a further 16 planned in total and then 300 cryptocurrencies. At the heart of their business is a clear goal to create a simplified interface designed with the average consumer in mind. Nauticus hopes to help simplify the trading process for new users by, “Making Bitcoin as easy as ordering a pizza”. The crypto and fiat exchange is targeted to launch in mid-2018 with one of their pilot features being a mobile app that utilises facial recognition and biometric data to enhance security. The app aims to make the payment processes easier for all users across the globe by simplifying sending money to friends or services through their easy, consumer friendly wallet. In 2019 Nauticus turns its attention to creating an environmentally friendly mining center, focusing on energy efficient equipment, renewable energy and promoting sustainable projects. The profits from the mine will be used to support subsequent expansion in the following years. By 2020 Nauticus then plans to move into the eCommerce sector, simplifying payments by allowing the buyer to pay in a variety of different fiat and crypto options and very importantly ensuring transaction fees are incredibly low. By 2023 they will have established a Merchant payment platform, integrated with the big data industry, have a global KYC verification system and an ICO Gateway for new projects. Value of project / Use case The pioneering feature of the project when it is launched this summer will be the 6 Fiat currencies pairs active on the platform. Nauticus will be the first in the world to offer such a service. By providing these pairs and simplifying the usability process, Nauticus targets to ease the adoption for the average user. The hope is that by providing an easy to use entry into the digital payment world they will be able to encourage adoption and become a leader in growing the ecosystem of modern payment methods. By summer 2019 the goal is to offer over 300 cryptocurrencies and an incredible 16 fiat currency options. This will thrust Nauticus into the limelight and highlights one of their clear unique selling points. The mobile app is one of the core features of Nauticus, they have their target firmly set on creating a global society, supporting transactions no matter where you are in the world and what currency you hold. The target is to allow the user travel anywhere and be able to pay with whatever currency they have stored in the exchange. The software behind the mobile app will then convert and transact immediately into the required payment method. The target of this is to help encourage the world to unite into one big digital eco-system and remove boundaries prevalent in our current system. Nauticus aims to create a one stop shop for global payments that is quick, reliable and extremely versatile no matter where you are in the world. Unlike many other ICO projects in the current space the Nauticus token has a clear value and use case. Like Binance coins or Kucoin tokens, the Nauticus coin has a genuine use on their exchange platform. ICO investers will almost immediately be able to use their Nauticus coins once the cryptocurrency / fiat exchange is launched. Users will be encouraged to hold the tokens as a 50% discount is provided on trading fees if the Nauticus coin is held in a user’s wallet. Hype At the time of writing the Nauticus ICO was in the final stage of its main sale. It has a very impressive 362,100 registered users, it has well surpassed its soft cap and is looking like it will hit the 2nd 16M milestone soon. The Nauticus team are active on social media promoting their project. Their telegram group has an above average user base exceeding 10,000, with a twitter following of a similar size. #Nauticus is currently being tweeted between 400–500 times a day and there is a general excitement surrounding the project within circles that are aware of its existence. Promotion from social media influencers and hype from YouTube reviewers has been relatively small compared with other popular ICOs active at the moment, but this shouldn’t detract from its pull in the community. Review sites such as WiserICO, ICOmarks and ICObench have reviewed the project very favourably and the project has excelled in a tough climate for ICOs (March-April 2018). Team The company was established by CEO Bryan Ng and COO Jonathan Chang. Whilst young, they have both setup previous successful businesses and have had experience with past blockchain projects. Further down the list, whilst the team is not all star, the team is large, experienced in the right fields and are very capable of delivering. Whilst the team has very good advisors, it is a shame to see these positioned ahead of the actual team on their site. Whilst advisors are somewhat important, it’s slightly disheartening seeing these pushed ahead of the actual team who will be driving the business forward. From watching an interview on Youtube, you can see the passion both founders have for the project. There is a clear air of transparency, both explain the project well and both seem eager and confident to establish their selves within the blockchian world. Respectably the Nauticus founders are also very ethically minded, pledging to use profits to bring improve living standards for those in developing countries, to protect the environment and to give away a possible 41% of the coins to charity. Token Metrics It is good to see that the project has clearly put some thought into their token metrics to benefit those investing at ICO stage. Private sales have a six month lock in feature to prevent bonus dumps and 90% of all tokens are in the hands of the general public. It is important for investors to be aware that the token sale has rewarded early investors in the form of bonuses and has been operating with a referral program. A 30% bonus existed for presale investors and an extra 5% for large investors. Giveaways in the form of a 100 free tokens were awarded for signing up, as well as 200 tokens for each referral. However, what is important to recognise is that any free tokens awarded from promotions will be untradeable for two years — a great way to protect early investors. Finally, although the project looks likely to sell out over the coming weeks, it is important to recognise that any unsold tokens will be burned at the end of the ICO. Summary Nauticus is a project that has high a real desire to make progress evolving our global digital ecosystem. It has a bold 5 year plan that if they succeed with, will push Nauticus forward as one of the pioneers of innovation in the blockchain space. Its unique features give Nauticus the ability to separate itself from other platforms, however, it will clearly face a lot of competition from the well-established cryptocurrency exchanges dominating the market. In addition to this it will also come up against the likes of Ethos and Bread as user friendly universal mobile wallets / fiat gateways. As well as fighting competition against payment focused projects such as Crypterium, Metal, BitPay, Monaco and TenX to name but a few. With great ambition also comes risk. Nauticus will not only have to be determined to achieve all 6 goals outlined in their roadmap, it may also come up against challenges navigating around government loopholes when implementing certain areas of the project. Despite these issues Nauticus is a relatively low risk investment with the potential to grow over the next few years if adoption is achieved. If we compare the Nauticus coin to similar projects such as Binance, the potential is obvious. With the correct nurturing of their Australian based team and successful marketing / implementation, there is real opportunity for Nauticus to thrive as a pioneer in secure crypto banking, payments and eCommerce as both a short and long term investment. Final rating to be revealed on www.thecoinradar.com Josh Herbert (TheCoinRadar) To find out more about Nauticus please follow the links below: Website (https://www.nauticus.io) Whitepaper (https://cdn.nauticus.io/NauticusWhitepaperOfficial.pdf)
Binance is a cryptocurrency exchange with CEO Mr. Changpeng Zhao, who previously founded the Fusion Systems in 2005, in Shanghai. In 2013, Changpeng Zhao joined Blockchain.info to be the third member of the wallet team of the cryptocurrency. He has also worked at OKCoin as a CTO for about a year. OKCoin is a cash trading platform between digital assets and fiat and. The company, Binance was founded in China, but after its servers and the head office were moved out of China and Japan before the Chinese government banned the cryptocurrency trade in Sept. 2017. The company had established some offices in Taiwan by March 2018. In January 2018, Binance was the largest encrypted exchange platform with a great market capitalization of the NBB worth $ 1.3 billion. In August 2018, Binance and three other major exchanges raised $ 32 million for a certain stable coin project. This idea of stable coins is really to provide cryptocurrency with the absence of the notorious volatility of well-known digital assets or Bitcoin. How advantageous is it to use the Binance Trading Bot? Before using a product or service, you have to make you what they offer will tie with your personal desires and wants. That is why we are looking at the strong holds of the Binance Trading Bot. " Strong Team: Led by Changpeng Zhao, The Binance Trading Bot team have experience in both wall-street and crypto finance. The team also have a reputation or track record of successful startups under the company's belt. " Proven Products: The underlying Binance platform has been deployed on 30+ exchanges already. The platform supports all devices and has multiple languages, which offers an amazing user experience. " Superior Technology: As seen in the preceding paragraphs, the matching engine (certified) of the platform is capable of processing 1,400,000 orders per second, making Binance one of the fastest exchange in the market today. " Industry Resources: Binance has solid relationships with industry leaders. If you simply look at the list of investors and advisors who are willing to stand behind the platform, you will be amazed. Most of their partners have assets with Ethereum, Ethereum Classic, GoChain, POA Network, VeChain, Tron, Wanchain, Callisto, ICON, Bitcoin, Litecoin, Bitcoin Cash, TomoChain, etc. " In the Binance Academy, there is a course entitled "Crypto. Made Simple". Here you are offered the possibility to learn blockchain and cryptocurrency on your schedule and completely free. How to transfer Bitcoin to your Bittrex account from another platform? Here we will explain how to perform Bittrex trading, transferring bitcoins into your e-wallet and How to Buy Bitcoin on Bittrex. However, it is important to mention that this operation is only possible for crypto-currencies available on the Bittrex platform. " To begin, you will first need to create your account on the Bittrex website. Therefore, this part assumes that you have 1 at your disposal, and that it is provided in bitcoins on another platform of your choice. " Thereafter, you will need to connect to Bittrex, then go into your wallet, by clicking in particular on the menu Wallet. Then you will need to click on the "+" icon to the left of the bitcoin. This maneuver allows you to note the address of your electronic wallet. You will need to enter this address in the window that will appear on your screen, under Bittrex. After this transaction, the amount transferred should appear in the "pending" column of your wallet. This simply means that the transfer is not instantaneous. However, you do not have to worry because the site is reliable. " Before going there, you have to first of all buy Bitcoin/Ethereum. Make sure that you have already bought Bitcoin or ETH from your crypto exchange locality that accepts your currency. In the crypto world, Ether and Bitcoin are the biggest coins that are represented in local currency; Even buying the available 1,300+ altcoins requires the use of either BTC or ETH, and most often you cannot buy altcoins using your own local currency. A popular exchange might be Coinbase. Beginners easily use this, but it has relatively higher fees. On the other hand, you can look for Local Bitcoin- that is a peer-to-peer marketplace. Know more about Altcoin trading Bot. " Now, with the transfer now complete, you will be able to use your bitcoins to invest in the altcoins available on Bittrex. However, be careful to indicate the address that will be provided by the platform, without making mistakes. In addition, it is not possible for you to transfer a currency other than the one that corresponds to the address you created. For example, you will not be able to make an ETH deposit on your BTC wallet. Ethereum can handle many more transactions than Bitcoin, which significantly speeds up transfer and confirmation times. On average, you usually wait for some minutes for your Ethereum transfer to process, but the Bitcoin transfers usually take hours. Moreover, transfer fees might be much lower with ETH than with BTC. " Next step, you make a deposit of your base currency. You can presently deposit the BTC or ETH you purchased from your local switch into your new Bittrex account. You will now use the base currency to get the altcoins you want. Wondering how to deposit your coins on Bittrex? Please do follow these steps.
Log in and click on Wallet in the upper right corner of the website.
Find the wallet in which you will be depositing.
Click on the arrow beside the wallet.
Click on "new address" to generate your address.
Be sure to read the deposit instructions if available. Some coins require the sending of a minimum amount before being credited. Some coins will require a memo / message / tag /payment. This means that you must send the coins to the certain address provided and attach this memo / message / tag / payment to the deposit area so that the coins can be routed or directed to your account. If you fail to attach this, you risk losing these funds.
You can send your coins to the web address provided. Be sure to send only the same type of coins to the address. This means that if you have generated a BTC address, you drop BTC there and not another type of coin. If you deposit another type of coin, the address you generated may permanently lose these coins.
You will find more tips on How to Trade on Bittrex. " The fourth step in performing an exchange on Bittrex is to choose the market in yourbase currency. There are 3 markets in Bittrex:
These markets are represented by the common base currencies used to purchase a wide variety of available altcoins. If you have deposited the BTC as the base currency, go to the Bitcoin market and choose an altcoin of your choice to buy using Bitcoin. If you instead deposited ETH, choose the altcoins of your choice on the Ethereum market. Note that the same rules might apply with Cryptocurrency Trade Bot. " The fifth step is, you define Purchase Orders. Enter the details of your purchase orders in the "Buy" box under the trading section. It is not mandatory to buy exactly 1 unit of Cryptocurrency because they are very divisible. You can buy / sell all the amounts you want, depending on your budget. So you can even buy 0.000001 Bitcoin without worrying! Assume you are selling Aragon and being paid in Bitcoin. o Units: The amount / quantity of coins you're willing to buy. Here, the amount of Monero to buy is 2.50. o Bid: The price you want to pay on a Monero unit. In this example, the price you are willing to pay for 1 Monero is 0.42100972. o Type: This type consists of a called "limit" or "conditional" order. The "Limit" order defines the maximum price (as indicated in "Bid") that you are ready to buy. This ensures that you will not pay more than 0.42100972 ETH for 1 Monero. o Total: The overall amount of the base currency (the ETH) that you will give up in exchange for the total number of altcoins you wish to purchase. Otherwise, this is the total cost of getting Monero in your reference currency, ETH. " Last step: store all the coins in a wallet The safest way to store your coins is to have your personal wallet. Although you automatically have a wallet when you open an Exchange account (wallet hosted by Exchange), you will not have control over the private and public keys. Having control of your keys means having control over your coins. The exchanges work as a bank; you trust a third party service provider for the security of your coins. But, there is a probability that the exchange will close or be pirated, leading in a loss of coins (typical example: Mount Gox exchange). Given the lack of regulatory frameworks on stock exchanges and cryptocurrencies as a whole, as well as the early childhood of the sector, the best way to protect your coins is to have total control over your coins. You can only have total control by having your personal wallet. Additional information: Under the "Bid" price, there are 3 types of Offers: o Last: Last price at which the last exchange took place o Bid: The highest price that a buyer is willing to pay for the coin, which is considered the first order in the "Order Book" section under "Bid". o Ask: The lowest price a seller will want to sell, the first order in the "Order Book" section, under "Ask". If you had to create your own orders by entering the "Bid" amount, this will not apply to you. Strong affiliates of Bittrex With Bittrex, you will have the possibility to trade on one of the world's most active crypto exchanges. That is the Poloniex Trading Bot. The USD Coin is now trading on Poloniex. To throw more light on this, USDC is a fully supportive US dollar stablecoin. USDC is the bridge between trading on cryptocurrency exchanges and dollars. It is possible to get the USDC using dolla rs via the Circle web app and then transfer it into Poloniex. Plus, trading in ETH, BTC, and USDT pairs is now available, and new trading pairs will soon be added! But is it the best free crypto trading bot? There are a lot of trading ideas and platforms online, but the one thing to note is that, there are a lot of risks in online trading in general. The crypto market is unstable and highly volatile; sometimes prices or values go up and other times, they do down. This happens all the time, and it is a matter of hours. The prices alternate every day and night, and so as humans, it is difficult to keep up with all the fluctuations. That is why is necessary to have Automated Cryptocurrency Trading on Poloniex. Poloniex is a very large exchange platform which provides a solid, reliable and secure space to exchange cryptocurrencies. A Poloniex trading bot is a mechanism to automatically trade on the Poloniex cryptocurrency exchange. Digital currency trading that has been automated will save you both time and money. As Peter Cochrane once said, "The world is divided into two kinds of people, those who spend a great deal of time saving money, and those who spend a great deal of money saving time." Cryptocurrency exchanges on the Poloniex platform is a great deal for real-time results. The service is fashioned to automate trade on diverse cryptocurrency exchanges. It also has a user-friendly interface that will help create and configure trading bots. . Selecting a Bittrex Trading Bot There are some things to look for when a Bittrex trading bot. This is said because there might be imposters or unreliable systems who might pretend they offer Bittrex. So, here are the facts to look into to know the Best Bittrex Trading Bot. They are what makes the Bittrex platform unique. " A good Bittrex trading bot is supposed to have a custom-built good trading engine. This engine should be designed as one that can be scalable and ensures that orders given are executed in real-time. " We have spoken extensively on how Bittrex is more secured. But one thing not to leave out is the fact that it must have fast deposits and withdrawals. Here, we look at efficiency and how those working on the platform allow automated monitoring. This is generally to provide users with the fastest experience in transactions available nowadays. For this to be concrete, the platform does regular updates on trade, the balance and wallet information. " Driving Innovation. Bittrex is also committed to supporting users of both new and established blockchains. In a bit to help drive innovation in the unbeatable blockchain industry, the Bittrex system provides its users with a growing selection of digital tokens and blockchain technologies. Also, a rigorous review process is done to all new digital tokens that are listed on the Bittrex trading platform. " Bittrex is also committed to complying with all the current U.S. regulations that ensure the prevention, detection and remediation of unlawful behavior by some customers. The same commitment to compliance is force upon virtual currency developers when using the services of other companies or even the Bittrex trading platform. Characteristics of the Bittrex Trading Platform ¢ Intellectual approach: The platform uses a built-in strategy to configure actions of bots. Bots will decide themselves when they can buy or sell your coins. And when you compare the decision taken by the platform, you will see that you would have either taken the same decisions or even taken more likely to fail decisions. Also get to know more about Bittrex bot github. ¢ Works with no limits: Since we are talking here about artificial intelligence, the number of trade bots are limited only by the number of cryptocurrency pairs on the exchange. But there are flexible settings that allow you to plan the necessary actions you need. Plus, there is the ability to be connected by the API. Who should get into Trading Bots? " Trading bots can help people ensure that they are always interacting with the market, even in times when they are physically or emotionally unable to do so. That is the beauty of using this artificial intelligence, but be sure to use the Best Crypto Trader Bot, so as not to get into the hands of fraudsters. " They can also help remove some of the stress and emotions often found in financial markets, including the crypto market. Nonetheless, Trading bots are really not for everyone, and it is not everyone that needs them. Casual investors for instance are not the first target of trading bots and especially if your intention is just to buy and keep Bitcoins, then, trading bots are probably not the right investment for you. " Moreover, if you are not familiar with creating real financial strategies or a competent programmer, then trading bots may not be for you, or learn more about Best Automated Crypto Trading Bot. However, if you have some knowledge on the issue with some ability to overcome these above obstacles, a trading bot can be a valuable tool to monitor and gain traction in the Bitcoin market. As seen in this article, we have taken a tour to Trading Bot, Bittrex trading bot, Binance Trading Bot, we have taken a concrete example of having a transaction on Bittrex with BTC and ETH, and finally, how artificial intelligence could be more efficient than humans when it comes to trading online. Bittrex Bots
idap.io is an International Digital Asset Platform, which aims to provide a complete Derivatives Ecosystem for Crypto Assets, offering Futures, calendar & butterfly spreads, options, and swaps among major trading products. idap.io exchange also supports spot trading, P2P lending and ETFs. Additionally, it is providing an ICO venture fund with a focus on retail investors. idap.io platform provides a Point-and-Click Ladder based Trading Interface through its Desktop Application. Its simulator tool aids beginners in learning futures trading. IDAP token holders will get 50% discount in trading and management fees if paid in IDAP tokens. https://preview.redd.it/onv0r0fbnh821.jpg?width=748&format=pjpg&auto=webp&s=0818ee47c078973328f19f38ecd8d0c8f8d151a2 Step-by-Step Guide:
idap.io is an International Digital Asset Platform, which aims to provide a complete Derivatives Ecosystem for Crypto Assets, offering Futures, calendar & butterfly spreads, options, and swaps among major trading products. idap.io exchange also supports spot trading, P2P lending and ETFs. Additionally, it is providing an ICO venture fund with a focus on retail investors. idap.io platform provides a Point-and-Click Ladder based Trading Interface through its Desktop Application. Its simulator tool aids beginners in learning futures trading. IDAP token holders will get 50% discount in trading and management fees if paid in IDAP tokens. https://preview.redd.it/wjszeffllh821.jpg?width=748&format=pjpg&auto=webp&s=e52c389bac56953ca207fddba16093f742fd8be5 Step-by-Step Guide:
idap.io is an International Digital Asset Platform, which aims to provide a complete Derivatives Ecosystem for Crypto Assets, offering Futures, calendar & butterfly spreads, options, and swaps among major trading products. idap.io exchange also supports spot trading, P2P lending and ETFs. Additionally, it is providing an ICO venture fund with a focus on retail investors. idap.io platform provides a Point-and-Click Ladder based Trading Interface through its Desktop Application. Its simulator tool aids beginners in learning futures trading. IDAP token holders will get 50% discount in trading and management fees if paid in IDAP tokens. https://preview.redd.it/feqn1aiujh821.jpg?width=748&format=pjpg&auto=webp&s=b6f76ae3c817e68ba2a9806f42a849687c292351 Step-by-Step Guide:
Bitcoin accounts for the majority of the volumes at nearly 29%, followed by Ripple. 2. OKEx. OKEx follows Binance with a 24-hour trading volume of just over $1 billion. Like Binance, Bitcoin is the most widely traded digital currency on this exchange as well with almost 30% of the overall volumes. The next most traded platform on OKEx is EOS ... Circle Invest App is an all new crypto trading platform that offers users with unique benefits such as: Custodial accounts; Zero commissions; Good liquidity rates; Multiple cryptocurrency support. In its current iteration, the app supports Bitcoin core, ethereum, bitcoin cash, ethereum classic, and litecoin. Circle Invest App Features Bitcoin Billionaire Review: The Verdict! Based on our test and in-depth analysis, Bitcoin Billionaire seems reliable and it claims to allow investors of any kind, be it beginners or advanced, to ... IMPORTANT: As of December 7th 2016 Circle no longer allows the option of buying or selling Bitcoins through their services.They are now referring all of their customers to Coinbase.. Probably the biggest competition in the Bitcoin marketplace today lies within Bitcoin exchanges, the most dominant being Coinbase and Circle. Today I’ve decide to test out these 2 exchanges head to head and see ... The new Circle app aims to be a Coinbase competitor by the looks of the user interface as the platform has a lot of similarities. See also: How to Buy Bitcoin When You’re Underage. Sponsored Links. The Circle Invest App On Testflight. Just recently we were sent an invitation code to give the new Circle Invest app a test, so we decided to give our readers a sneak peek before the official ... Circle Reviews: ‘So Quick, So Easy, So Fun’ The UK-based wallet provider, which made the news in December after CEO Jeremy Allaire announced a move away from Bitcoin, is already suspected of being party to fake reviews. “Circle makes sending money so quick, so easy, so fun,” an example suspect review posted to Reddit begins.. Another describes the app as “Easy peasy lemon squeezey.” Additional Review by Editorial Team Finally, our editorial team checks all apps in our best 10 list one by one to make sure these apps are of the highest quality. If you are interested in learning more about our process, find out here. 7M+ Apps & Games; 895 Apps & Games Related to Bitcoin; Best 10 Bitcoin Apps; Learn how our ranking system works Close 4. Crypto App - Widgets, Alerts, News ... Bitcoin society app review recently recovered my investments trading bitcoins with this company. Overview Reviews About. Exchanges that promise heavy discounts socety bitcoin use this strategy to lure in unsuspecting victims. There is no organisation regulating it if you loose money you loose it So i advice people not to fall for this and all the victims to come together and march against it ... Exchanges such as Bitfinex, Binance, and Coinbase all have excellent mobile apps, but not all platforms are as accommodating. Earn.com. Earn.com is an Android and iOS app that lets you earn ... Circle Invest is the latest foray into cryptocurrency for the Goldman Sachs-backed company that recently acquired crypto exchange Poloniex. The investment app will allow users to instantly buy Bitcoin, Ethereum, Litecoin, Bitcoin cash and Ethereum Classic, with more tokens to come.
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