Bitcoin realtime charts for order book, trades and ...
Name a 2017 / 2018 moonshot IEO that was initially popular and is now either dead or ghosting away - I'll start, SVD
SVD is Savedroid. Savedroid was an ICO in 2018 right at the peak of the mania, not quite at the top price wise, but still when greed was insanely high. Now SVD raised an incredible $50 million, for an app that simply automates your saving. That's it. In today's environment I can see that going for maybe $500k or so, IF that. Maybe they could call themselves a Defi food coin instead and get some money in via uniswap. Demand was very high, with all tokens sold in a week. So all it would do is you would set some criteria - say, if I do 10 push ups a day I want to save $1 into BTC, you'll input that and the app would buy the bitcoin with $1. (I have no idea why you couldn't do that manually, but anyway). Things got off to a bad start when on day 1 the CEO, Yassin Hankir decided to pull a "fake exit scam", with a twitter message "thanks guys, over and out" with the website replaced with the message "...and its gone". He then back pedalled and said actually it was a joke and meant to show case other scammy projects. Investors weren't particularly amused, especially as this coincided with the coin listing, causing the price to plunge into the eternal depths of hell faster than Grin Coin or an FTX listing. Well that doesn't really matter because the project seems to have died, with the founder moving onto another project, leaving behind an app that is apparently barely functional, and doesn't even allow ICO investors to use their SVD on the platform. The ICO price was 1 cent - pretty cheap right? Well no, apparently the token price is now $0.0000541 with a daily volume of zero. Market cap it $158k, but no idea how that is calculated. Not exactly a great way to save if you were an investor! Naturally they have been delisted from all but a couple of obscure DEXes and even there volume is dead (this is despite various promises of top exchanges). And the cherry on top - last week the project rebranded as "Trumpbit", a new app that does the same thing (converts your money into BTC) by a certain amount each time Trump tweets. Only problem is people are having trouble moving their funds across from one platform to another, lost email addresses etc. I have no idea what happens if Trump loses the election, maybe it will be come Bidenbit or something. This is of course leaving aside the fact that your $50M ICO has rebranded to a coin named after Trump (not a political comment but a bit of a head scratcher). You can even pop by their reddit sub, where there have been around 4 comments in 1 year, or if you are bold, visit their telegram group to see various howls of outrage and people wondering where their investment has gone. Name and shame your preferred coin of death!
Best Cryptocurrency Multi-Exchange Trading and Portfolio Management Platforms Ranking 2020
Trade on multiple exchanges from a single platform and avoid the hassle of multiple logins, different interfaces, constant tab changing and overall keeping track of balance holdings and trades. https://preview.redd.it/ksar6fkxmfv51.jpg?width=1200&format=pjpg&auto=webp&s=b8629b0f29aefd9546d816413cc82de9656ef7f9 With more than 300 cryptocurrency exchanges today, most traders have to manage multiple exchange accounts. The need for more than one account usually rises because of the variety of offered crypto currency pairs, market liquidity, having to diversify the risk of being hacked, as well as the different trading tools and terms each exchange offers. Trading and keeping track of your portfolios on multiple exchanges is time consuming, inefficient and frustrating. Having to log on different platforms, use different interfaces, keeping track of multiple portfolios and all trading related activities become increasingly difficult with each new account. It would be simple and easy if you could connect all those exchange accounts into a single multi-exchange platform which combines all the data in real time and provides a single interface to control all remote exchange accounts.
A multi-exchange platform allows the traders to connect all their exchange accounts into a single account through the user of API keys generated from the account of each exchange. Once all accounts are connected into a single one, using the exchanges interfaces becomes obsolete. The unified account will now track and combine all portfolios and traders will be able to track prices, order statuses and other data across all exchange accounts from a single interface. In addition, most multi-exchange platforms provide various information tools such as news aggregators, sentiment tools, arbitrage matrix and price alerts. With regards to API keys security, these platforms do not require withdrawal or deposit permissions which limits the possibility of fraud and loss of funds. Finally, multi-exchange platforms do not typically charge additional trading fees and do not require lengthy verification procedures.
The current top platforms
Currently there are a handful of multi-exchange platforms with a variety of services. They range from a simple crypto portfolio tracker to an advanced trading and portfolio management platform. A detailed list of all major multi-exchange platforms and their features can be found here: www.AltXpert.com Here is an overview of the top 9 multi-exchange trading and portfolio management platforms:
Quick list of the most useful data resources in crypto
Compiled by the Messari Research team: Dune Analytics - provides a number of pre-set sector and project specific dashboards on key metrics needed to assess the health of the industry. Create custom dashboards with SQL by directly querying the Ethereum blockchain. Nansen - On-chain analysis providing various sector and project specific dashboards. Specifically useful for tracking behavior of specific ERC-20 movements from exchanges, unique addresses and large holders. Token Terminal - Great for comparing traditional financial metrics like revenue generated by various protocols. Useful for generating relative valuation comparisons. DeFi Pulse - DeFi Pulse’s Total Value Locked (TVL) metric has become the de facto approximation of the size of DeFi, calculated by summing all collateral locked in a given protocol. Etherscan - Ethereum’s tried and true block explorer. Use cases include checking the status of current on-chain transactions, looking through historical transactions, viewing top holders of a certain token, and monitoring gas fees. CoinMetrics - Broad range of on-chain, price, volume, mining, and supply data points for almost all major blockchains. Glassnode - Multi-purpose data provider offering an array of charts and dashboards like “whale watching” chart that shows the number of addresses holding more than 1,000 BTC. IntotheBlock- Another on-chain/market analytics tool great for conducting due diligence. Offers unique charts that show, for example, order book market depth. Skew - The place for derivative data across bitcoin and ethereum futures and options, useful for analyzing crypto market structure during stress tests like Black Thursday. Messari - The core screener tools allow me to keep up with short and long term price movements. The reports we’ve compiled are also great for tracking leading crypto funds. The charting tool is great for tracking year-to-date performance:
Syscoin Platform’s Great Reddit Scaling Bake-off Proposal
https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44 We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution! Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality. Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining. This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.
Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.
Syscoin + Matic Integration
Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both. Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.
Total cost for these 100k transactions: $0.63 USD See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing: ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37) Syscoin price: $0.11 Snapshot of live fee comparison chart Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions. Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.
Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.
The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms. The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.
Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.
Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).
Unique fee-market that is more efficient for microtransaction redemption and settlement
Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
Provides high throughput and secure fulfillment even if blocks are full
Probabilistic and interactive
99.9999% security assurance within 10 seconds
Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.
Syscoin 3.0 White Paper (4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
SHA256 merge mined with Bitcoin
UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
Z-DAG on asset layer, bridge to Ethereum on asset layer
On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.
Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask. Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2. Current supported wallets Syscoin Spark Desktop Syscoin-Qt
Aave - an open source and non-custodial protocol to earn interest on deposits & borrow assets
Akropolis - an undercollateralised lending protocol aiming at DeFi yield optimisation and interest-rate sharing
Atomic Loans - a lending platform that accepts trustless BTC collateral via custom Bitcoin scripts
bZx - a decentralized protocol that enables lending and borrowing for margin trading
Compound - an open-source money market protocol on Ethereum that lets users lend or borrow assets against collateral
DeFiner - a globally available, decentralized lending marketplace to securely borrow and lend digital assets through smart-contracts
Force Protocol - an open financial platform providing a wide range of financial services including lending, banking and stablecoins
Maker - a decentralized credit platform on Ethereum that supports Dai, a stablecoin whose value is pegged to USD and backed in ETH or BAT
Nitrogen Network - a decentralized P2P network for secured loans
Swap Rate - a DeFi interest rate swap tool built on the Opium protocol
Augur - a decentralized oracle and peer-to-peer protocol for prediction markets on Ethereum that lets anyone create a market around the outcome of any real-world event
ACO - a decentralized and non-custodial options trading protocol
Balancer - a non-custodial portfolio manager, liquidity provider, and price sensor
Bancor - a protocol on Ethereum for non-custodial token exchange using pooled liquidity
DeversiFi - a high-speed, non-custodial Layer 2 exchange built with STARKs technology, allowing for 9,000+ tps with deep liquidity, low fees, privacy and speed.
DEX AG - a trading interface that finds you the best price from 11 different DEXes
dYdX - a non-custodial trading platform on Ethereum geared toward experienced traders
Gnosis Protocol - a fully decentralized trading protocol that allows anyone to add any trading token pair
Hegic - an on-chain peer-to-pool options trading protocol built on Ethereum
Helena - a smart contract platform with gamified prediction markets
Jelly Swap - a peer to peer trading tool across different blockchains using atomic swaps
KyberSwap - a permissionless cross-chain atomic swap protocol, enabling trading of tokens across different chains
Leverj - a secure and decentralized high performance plasma based exchange
Local Ethereum - a non - custodial peer-to-peer ETH marketplace featuring end to end encryption and on -chain escrow.
Loopring DEX - a non-custodial Layer 2 DEX built on top of the Looping protocol
Market Protocol - a protocol on Ethereum which offers tokenized leverage trading of any asset through synthetic pricing
MCDEX - a decentralized derivatives trading platform for perpetuals & futures
MerkleX - a decentralized exchange that uses a decentralized clearing network. Merklex allows traders to set limits on what can happen to their funds.
Nuo Network - a non-custodial platform on Ethereum that provides a decentralized debt marketplace. Users can lend, borrow, or margin trade any supported cryptoasset
Ren - a provider of inter-blockchain liquidity for all decentralized applications
Set Protocol - a protocol designed to create, manage, and obtain baskets of tokenized assets
Synthetix - a decentralized platform on Ethereum for the creation of Synths: on-chain synthetic assets that track the value of real-world assets
Tokenlon - a DEX with off-chain matching, and on-chain settlment via 0x
UMA - a decentralized protocol to enable the creation, maintenance, and settlement of financial contracts for any underlying asset
Uniswap - a fully decentralized on-chain protocol for token exchanges on Ethereum that uses liquidity pools instead of order books
Veridex - a Mesh connected 0x relayer with trading, swap and market making tools
Flexa - a payment network that enables merchants to accept digital currencies without the risk of fraud or volatility through off-chain collateralization.
Fuse - a blockchain payment integration for businesses
Request Network - an open network for transaction requests. It allows anyone to create, store and access invoices and receipts in a universal, decentralized network.
Alpha Wallet - a mobile-based wallet built for Dapps. Do everything with only a few taps.
Argent - a secure smart contract wallet built for simplicity, security and usability.
Ash - a wallet interface focused on DeFi asset management powered by Melon Protocol
Atomex - a multicurrency HD wallet with built-in hybrid atomic swap exchange
Coinbase Wallet - a non-custodial, DeFi enabled mobile wallet that lets you securely store your tokens and collectibles
DEXWallet - a mobile wallet for decentralized finance
Eidoo - a non-custodial wallet that allows users to store, exchange and transact cryptoassets with a wide range of DeFi services and tools
Math Wallet - a multi-chain non-custodial wallet with embedded browser functionality and DApp store
Meet.One - a multi-chain DeFi wallet, non-custodial and easy-to-use
Monolith - a decentralised banking alternative, powered by Ethereum
My Crypto - an easy to use app that helps you create, import, and manage all your wallets
My Ether Wallet - a free, easy-to-use and open-source client-side interface that helps you interact with the Ethereum blockchain
Gnosis Safe - a secure way to manage funds and interact with decentralized applications on Ethereum
HB Wallet - a non-custodial DeFi-enabled wallet available on multiple platforms
Poketto - a wallet that you can actually show to your parents
Bamboo Relay - a 0x relayer built to trade, lend, and borrow tokens directly from your wallet.
Dca.land - an automated & decentralized dollar cost averaging tool
DDEX - Decentralized Margin TradingTrade with leverage and earn passive income in DeFi
DeBank - an all-in-one DeFi wallet with on-chain DeFi stats
DeFi Saver - an easy to use management portal for MakerDAO CDPs and compound protfolios
DeFi Snap - a simple dashboard that helps visualize all DeFi assets and liabilities
dForce Network - a decentralized finance protocol, starting with the first synthetic indexed stablecoin - USDx
Dharma - a peer-to-peer marketplace on Ethereum for non-custodial lending and borrowing of cryptocurrencies built on an extensible open source protocol
EasyCDP - an interface for MakerDAO that vastly simplifies the process of opening and managing a CDP
FiatDex Gateway - a simple browser-based interface to interact with the FiatDex protocol which allows users to trustlessly swap fiat to crypto
Frontier - a mobile interface integrating all DeFi Protocols and Wallets, enabling users to Track, View & Manage positions in real-time without giving away their private keys
InstaDApp - an intuitive interface on top of the MakerDAO protocol that’s optimized for users lacking advanced technical or financial experience
iearn.finance - a simplified aggregator that optimizes lending into the highest yielding protocols
Melon - an open-source, community-run protocol for asset management on Ethereum. Melon lets users create, manage, and invest in decentralized funds composed of ETH and ERC20s
Totle - a decentralized liquidity provider where you can swap and transfer tokens while automatically getting the best prices from decentralized exchanges
Unspent - a dashboard for all crypto and open finance activity: investing, trading, lending & borrowing
Zerion - an easy to use trustless banking interface utilizing popular DeFi protocols
0x - a protocol for p2p exchange of tokenized assets. ZRX is the governance token that allows to vote on protocol upgrades, and earn liquidity rewards shared by liquidity providers.
Ampleforth - a digital-asset-protocol for smart commodity-money.
Augmint - a smart contract platform that issues stable tokens targeted 1:1 to the EUR backed by collateral
Betoken - An open crypto fund managed by code and meritocracy
Connext - a non-custodial layer 2 payment-channel technology that enables off-chain, instant payments with low (or zero) transaction costs, helping scale the Ethereum network and paving the way for use cases like micropayments
DAI - a decentralized stablecoin soft-pegged to the US Dollar
DFOhub - an Ethereum-based Research & Development project that provides a framework for DFO's, on-chain companies with proprietary assets and voting tokens as programmable equities
EPNS - a service that allows dApps, Smart Contracts & Services to send push notifications to their users in a decentralized way
Lightning Network - a Layer 2 protocol on top of Bitcoin that seeks to improve scalability by moving small and frequent transactions off-chain, allowing for fast peer-to-peer transactions and low fees.
Liquidity Network - a Layer 2 scalability solution that enables gas-less, near-instant trustless transactions & token swaps
Loom Network - a DPOS layer 2 scaling solution that allows developers to run large-scale applications on top of Ethereum
Loopring - an open source protocol for decentralized exchanges designed to provide matching-as-a-service, and its orders are unidirectional and do not differentiate takers and makers giving complete control to traders
mStable - a single standard unifying stablecoins swapping and lending that also reduces friction and fragmentation
Neutral - a meta-stablecoin system built using a basket of multiple stablecoins to generate a lower volatility token with a reduced risk profile
Nest - a decentralized and transparent price oracles network
Nexus Mutual - a decentralized insurance platform where people can share risk particularly against smart contract bugs, failure or other black swan events
Opyn - an insurance and risk management layer for DeFi
PhishFort Protect - a crypto open source browser plugin that protects users in the DeFi space from phising
pToken - a trustless and trasparent 2-way peg to teleport tokens across blockchains, without friction
rDAI - a DeFi primitive that splits principal and interest in DeFi investments, and streams accrued interest to chosen addresses
Reserve - a decentralized stablecoin protocol enabling global and frictionless payments
Tokentax - an easy to use cryptocurrency & DeFi taxes calculator
USDx - USDx is a decentralized and synthetic indexed stablecoin introduced by dForce. USDx's underlying stablecoins include USDC, TUSD and PAX
WBTC - an ERC20 token that is backed 1:1 by bitcoin.
xDai - an Ethereum sidechain with 5-second block times, low gas prices, and a native token that’s also called xDai.
0x Tracker - a trade explorer for 0x protocol and decentralized ERC20 token price index
Coin Interest Rate - a dashboard showcasing borrowing and lending rates for USDC and DAI
DefiScan - a read-only DeFi profile explorer for Compound, Uniswap, and SpankChain
Etherscan - a block explorer and muti-purpose analytics platform for Ethereum
Eth Gas Station - a consumer oriented metrics & analytics platform for the Ethereum gas market
Loan Scan - a dashboard showing the best rates to earn passive income or lowest rates to borrow crypto
UniswapROI - a calculator to help you analyze your investments in Uniswap and find the best liquidity pools
Whois0x - a database of wallet addresses and their linked social media accounts that also provides easy to understand DeFi stats for each address
Defi Nerd - a lending & borrowing reviews and rates comparison ressource for crypto assets
DeFi Prime - a list of the best Decentralized Finance Products
Defi Rate - a trusted resource for DeFi research, news and interviews with a strong focus on lending rates
EthHub Weekly Newsletter - a trusted resource on all things Ethereum
Chris Blec - a collection of demos for various DeFi products, targeted to beginner & intermediate users.
Into the Ether Podcast - a podcast focusing on all things related to Ethereum, the leading blockchain for decentralized applications.
Wyre Podcast - a podcast where Thomas Scaria interviews founders of top DeFi projects twice a month. Giving insight to their business as well as the technical challenges that they have overcome.
Bankless - the ultimate guide to crypto finance written by Ryan Sean Adams
DeFi Tutorial - a newsletter focused on teaching and educating readers about DeFi with hands on video tutorials
DeFi Value - a place to better understand and evaluate Decentralized Finance
DeFi Weekly - a weekly in-depth review of technical achievements within decentralized finance
Dose of DeFi - a weekly newsletter that specializes in deep dives on topics in the space
EthHub Weekly Newsletter - a collection of the week's Ethereum and cryptocurrency news curated by the founders of EthHub
The Defiant - a curated list of daily news in the DeFi space explained and conensed down to a digestable level by Camila Russo
Concourse Open Community - an open community of builders, enthusiasts and researchers working towards a free, bountiful and decentralized future for everyone
Dai para principiantes - a spanish-first Dai and Defi educational website, tutorials & active community
DeFi Nation - a DeFi-oriented community featuring discussions, walk-throughs, Q&A calls and more
Ethereum Italia - an Ethereum focused community in Italy with a strong presence on all social media
Hola DeFi - a DeFi product directory for the Spanish-speaking community
Established in 2018, MXC has become a one-stop service provider. It is now able to provide users spot, margin, contract, leveraged ETF, Index Products, Contract, PoS Staking, OTC services. It emerges as one of the fastest growing exchanges in the world. In 2019, the daily trading volume of MXC took 5% of the world’s digital market. Besides, leveraged ETF products on MXC took lion share in the world of the same kind of products based on data from CryptoRank. On top of that, It obtained regulation-compliance licenses in many countries, like U.S., Canada, Australia, etc. and is able to carry out digital asset service in these countries. https://preview.redd.it/xmdorlqtjt951.png?width=1298&format=png&auto=webp&s=b791ee9dc47ff43cca9bf281cacbc05a61fa2632 In the aspect of OTC trading, MXC established partnership with Simplex, a European regulation-compliance payment company, and Banxa, a legal payment company in South-east Asia, allowing users to use Visa and Mastercard to buy cryptocurrencies, like BTC, ETH, etc. directly. In the aspect of spot trading, MXC now support over 200 trading pairs. In addition to the top market cap coins and token, it has listed many high-quality DeFi projects, like COMP, MKR, SNX, KNC, LEND, REN, BNT, IDEX, SWTH, OKS, RUNE, KAVA, BAL, UMA, etc. as well as projects of Polkadot ecosystem, like KSM, EDG, PCX, RING, etc. In the aspect of margin trading, MXC supports the largest number of margin pairs among all exchanges across the globe, with 2 – 10x leverage available. The automatic loan and repayment functions are available. With the coming of the upgraded margin system, the depth, price difference, loan efficiency and matching efficiency have greatly updated. In the aspect of leveraged ETF, MXC, learned from traditional financial products, introduced in re-balance system, so there’s no liquidation risks in buying leveraged ETF products. Leveraged ETF tracks the changes of the underlying assets with 3x leverage. “3L” products refer to 3x long, while “3S” products 3x short. Now it 3x leverage for 29 cryptocurrencies, including BTC, BCH, BSV, DASH, ZEC, ATOM, XTZ, ALGO, etc. In the extreme market on March 12, 2020, BTC plummeted a high of 52.36% and the ordinary 3x leverage products for BTC plunged by 157.08%. However, with the re-balance system, the BTC3L product on MXC decreased by 92.96%, lower than the ordinary 3x leverage products and protect the interest of users in some extent. Furthermore, in the following market, the BTC3L product rose by 236%, higher than the 167.41% of ordinary 3x leverage product. The leveraged ETF once became the label of MXC, "Huobi's OTC, OKex’s contract, MXC’s ETF and Binance's spot." The popularity of leveraged ETFs has attracted many exchanges to follow suit. In terms of index products, MXC officially launched index products under the ETF zone, including decentralized storage asset index, mainstream cryptocurrency index, DeFi asset index, public chain index, 2020 halving cryptocurrency index. MXC index products are similar to traditional financial fund products, and each index product is composed of multiple constituent cryptocurrencies. According to the announcement, the MXC Index product will be adjusted according to the average daily turnover ratio of the previous 30 days, that is, the proportion of the component cryptocurrency will be adjusted. If the target does not meet the representativeness and investability, the index may be removed from the product. Decentralized storage combination components are STORJ, LAMB, GNX, BLZ; mainstream currency combination, components are BTC, ETH, LTC, EOS, ETC, BCH, BSV, XRP; DeFi asset components are KNC, ZRX, KAVA, NEST; Public chain combination, the components are TRX, VET, NEO, QTUM, BTM, ONT, IOST; halving index components are BTC, ETC, BCH, BSV, ZEC, DASH. Index products can help users not miss the bull market. Any one of the constituent cryptocurrencies increase, the user can make gains. Secondly, it can help avoid the risk of a single cryptocurrency’s plunging. In addition, it can also help save investment time and improve investment efficiency. In terms of contract transactions, MXC upgraded the contract trading system and launched a new version of the contract in June this year. MXC contract trading currently supports free adjustment of 1-100x leverage multiples. In the isolated margin mode, users can still adjust the leverage multiples after opening a position, and support isolated margin conversion to cross margin, which can help users pursue the market with all their strength. It supports users to place stop profit and stop loss orders at the same time, while occupying only one margin. It supports Post Only (Maker only) and IOC (Immediately or cancel all) strategies. Under Post Only (Maker only), the user will not immediately place an order on the market when placing an order, to ensure that the order is always Maker (pending order), saving handling fees. IOC function, that is, if the order cannot be fully executed, the rest will be cancelled. For example, the BTC price index of MXC selects the bitcoin spot prices of 6 exchanges, namely: Coinbase, Bitstamp, Binance, Huobi, OKEx, Bitfinex. If the spot price of an exchange deviates from the median of all exchanges by ±3%, the spot price of the exchange is calculated according to the median of ±3%. Use reasonable prices for liquidation, which are based on index prices. In addition, underlined proper nouns on the webpage, as long as the mouse points up, the corresponding explanation will be displayed, which is convenient for users to understand. In terms of PoS pools, MXC supports three types of PoS: Saving, Staking and Lending. Among them, PoS saving does not need to lock assets, and holding assets can obtain income.
What Can We Expect in the Halving Market? 58COIN Exchange Beauty Executive Gives the Answer
What are the effects of the third Bitcoin halving? How to view the relationship between mining pools and exchanges? Is the contract a road of no return? What is the future trend of digital currency? Q1: What does 58COIN expect from this Bitcoin halving? Xiao Bei: On the macro level, reduction in the bitcoin production shows a more stable signal to the market. May 12th is the third halving in bitcoin’s history, before it, however, the daily production plunged from 1800 to 900, a reduction of around 30,000 bitcoins in a month. The selling pressure reduced significantly, which leaves the root impact on the gradual stability of the market. The reduction not only brought us a bull market with a sustainable and long-lasting effect but greater opportunities as well. As an exchange, it should better improve itself and render stable and quality products to users. Currently, 58COIN’s mining pool ranks the top 5 in the world. After the reduction, based on the principle of survival of the fittest, the superior resources will be allocated to a larger and more stable mining farm, and the steady recovery of computing power is also anticipating. Q2: As an exchange, why does 58COIN occupy more than 10% of the overall bitcoin’s computing power? Xiao Bei: At present, our computing power share is about 7.8%, ranking among the top five in the world. Our recent goal is to have a stable computing power share of more than 10%. The mining pool provides the main non-trading BTC source for the exchange, increases the supply of BTCs on the market, and injects liquidity into the market. The top ten exchanges are expected to receive more than 70% of the bitcoin in the mining pool, so all major exchanges have begun to layout the mining pool to compete for BTC. 58COIN has reorganized the layout and started the operation of the new mining pool (58COIN& 1THash) in 2019. We have a mature operation team with more than 6 years’ experience, and hope to better link the upstream and downstream industries in the next stage. This is also an important step in the strategic development of high-quality exchanges. Q3: For an exchange, liquidity and redemption abilities are the absolute reflection of the user's sense of security. How does 58COIN ensure these two abilities that users care most? Xiao Bei: In terms of liquidity, first of all, our registered users have exceeded 3 million, which provides sufficient trading liquidity and depth. Secondly, our matching transaction service with constantly upgraded technology and algorithm ensures that each matchmaking time is in the microsecond level, and easily achieve system 10,000-level throughput performance. Concerning the redemption ability, non-trading digital assets held by the exchange serves as the foundation. The advantages of 58COIN's mining pool have accumulated abundant platform reserves for us. As of now, our risk reserve has exceeded 3.6 billion yuan. Besides, the Exchange integrates account opening, transaction matching, and liquidation, and plays an important role in the secondary market. Most exchanges lack a high-quality intelligent risk control system, a comprehensive anti-money laundering mechanism, and insufficient open and transparent information disclosure and supervision. There may be acts of forgery of trading volume, joint price manipulation with the project party, and other actions that harm the interests of investors. If the liquidity itself is not good enough, the situation mentioned above is more likely to occur. Q4: Which section does 58COIN values most? Contract Trading or Spot Transactions? What is the biggest advantage of trading contracts on 58COIN? Xiao Bei: Both spot and contract boast their own advantages, separately lie in the exchange value through hoarded coins, and flexible use of fluctuations. 58COIN as the main contract exchange, contract trading is definitely our focus. In terms of spot, it is mainly based on mainstream currencies. Compared with spot trading, the two-direction trading mechanism is more flexible. Also, leverage can increase the utilization rate of funds and amplify the profit, which is suitable for users with fewer funds to trade. The biggest advantage of contract transactions, in addition to the just mentioned abundant platform reserves, complete risk control and huge user base, there are several points related to the user's vital interests:
The lowest fee in the industry. For example, the handling fee of the perpetual contract is: “Taker 0.03%, Maker 0.015%”;
The fixed maintenance margin of 0.5%;
No funding fees. We have made every effort to reduce the principal consumption in each exchange, thus greatly lower the risk of liquidation;
The platform insurance funds bear the full debt loss, and users do not have to worry about apportioning any risks.
In addition, the contract can also maintain the value of the existing mainstream spot of the user to minimize the risk of depreciation caused by spot fluctuations. It is worth mentioning that in terms of wallet, we implement multi-level and multi-dimensional security risk control strategies such as hot and cold wallet isolation, multi-signature authorization, and regularly change of hot wallet addresses. Meanwhile, a manual verification process was added to ensure the safety of the assets. Since its establishment, there has never been any wallet accident, wallet stolen, or the loss of coin incidents. Q5: In the contract transaction, what advice does 58COIN give to novice users? Xiao Bei: Firstly, please remind that contract is not a devil, it is just a tool. What we should do is to make good use of the tool to make profits. Secondly, the purpose of the investment is to withdraw, and suggestions are shown below: 1. Invest with the spare funds at hand; 2. In the spot transaction, hoard coins in the bear market and exchange in the bull market, do not follow the trend of buying in the bull market; 3. In the contract, set up operation points and positions, and perform secondary operations according to market conditions. (Do not be greedy) 4. Make a risk response plan during the investment process, such as a sufficient margin, value preservation plan, etc. Finally, we must keep in mind: when doing spot transactions, choose assets with good liquidity in a way to get away from manipulation projects, risky exchanges, etc. 58COIN provides detailed descriptions for each business line, novice users should read them carefully before using. Besides, each contract trading page is designed with a calculator to help provide trading references to users before investment. Q6: What are the new plans of 58COIN? Xiao Bei: First of all, we will remain a sophisticated attitude in technology, risk control, and product experience, offering a stronger guarantee for users' transactions; second, we will further improve the ecological layout of 58COIN, from increasing investment in mining pools, gradually optimizing the hot and cold wallet system, enabling entities, focusing on community construction, etc., with better technical upgrades and preparations, to ensure that the entire 58COIN ecology can better link the upstream and downstream industries, providing our users with a more stable ecological background; We will launch some online activities in the near future, covering basic knowledge, candlestick chart learning, and industry analysis. We look forward to making joint efforts with our users in learning and making progress. Q7: What does 58COIN want to say about the future cryptocurrency market? Xiao Bei: The real big bonus in the cryptocurrency market has not yet been released, and Bitcoin has more imagination space than gold in the future. The cryptocurrency market is stepping toward a diversified, professional, and tangible direction, requiring more high-quality industries participation and landing. Though it is currently the fastest-growing field, financial attributes should not be the only factor entitled to cryptocurrencies, the future market should be more integrated and serve the real economy, such as the Internet of Things, financial systems, and personal privacy. For more details, please log in to www.58ex.com or download our app: https://wap.58ex.com/?locale=en. Website: https://www.58ex.com/ Twitter: https://twitter.com/58_coin Facebook: https://www.facebook.com/coin.58COIN Telegram: https://t.me/official58 Medium: https://medium.com/@58coin_blog/
8 times of online appreciation, only GFS will rise in 2020
https://preview.redd.it/dftun04vml451.png?width=724&format=png&auto=webp&s=f0c667cbc5d0de39f0bf113e9941b0c7f9cb072f GFS over 8 times in two weeks! With the continuous improvement of blockchain technology status, digital currency is being sought after by investors, bitcoin, Ethereum and other major mainstream currencies are rising, the certificate GFS of Forbes, the blockchain 4.0 cross chain protocol system, has also broken by $0.8, and the GFS online has increased by more than 8 times in less than two weeks, becoming the best investment target worthy of 2020! ■ global financial market downturn, digital currency is good The financial market in 2020 can be described as double hot and cold days, with a sudden outbreak of a new crown epidemic and frequent black swans. In March, the U.S. stock market fused four times in 10 days, the Brazilian stock index fused, the Canadian S & P / TSX stock index fused, the crude oil futures fell to a negative number, and the panic of investors spread in the financial markets of various countries. On the other hand, through a series of major events such as the Fed's interest rate cut, the global outbreak, and the stock market circuit breaker, the risk aversion of digital currency is becoming more and more obvious. In terms of supervision, under the favorable national policies of the United States, Singapore, Japan, India and other countries, the digital currency is being sought after by investors. ■ GFS up to 800%, or the first 100 times in 2020 All of the above have laid the foundation for a new round of bull market of digital currency, with major mainstream currencies rising one after another. In 2020, the well deserved king of digital assets is cross chain commercial blockchain Forbes, whose token GFS has been online for less than two weeks, has risen more than eight times, surpassing all mainstream digital assets. The rise of GFS is nothing more than normal. A good digital asset, in addition to having excellent technology, its blockchain itself must solve practical problems, as an incentive means of digital assets to have value. Bitcoin provides a secure and stable decentralized bookkeeping system, while BTC, as the digital asset of bitcoin blockchain, is used as bookkeeping fee, so BTC can be the number one in digital currency. BTC has a stable use and use scenario, and the rise is natural. ■ Growth Logic of GFS From a technical point of view, Forbes brings a brand-new blockchain financial ecology, which creates a truly usable cross chain ecology, helps traditional industries, especially the financial industry, realize chain reform, and makes various commercial applications run smoothly on Forbes. The core technology of Forbes is cross chain. Great projects must have great genes. Forbes is co sponsored by cryptopunk members and some Wall Street practitioners. As we all know, Nakamoto, the initiator of bitcoin, is from cryptopunk forum. In addition, Wikileaks founder Assange is also from cryptopunk. Forbes team recognized that in the current blockchain field, due to the status quo of isolated islands between chains, the blockchain financial business could not be carried out. Cross chain is the top priority. From the strategic layout shown in the Forbes white paper, GFS clearly has long-term investment value. At present, GFS has created typical applications including: Forbes cross chain protocol, dpoc mining machine, Forbes Global Mining pool, one-stop digital asset storage management wallet Forbes wallet, etc. Any of these combined with the cross chain technology breakthrough of Forbes will give birth to a new and solid landing to realize the benign circulation of GFS in the ecosystem. In the future, the great ecosystem of blockchain business application will be built on the basis of Forbes, including but not limited to decentralized exchanges, blockchain securities market, supply chain, payment management consumption application, lending, food, clothing, housing and so on. ■ infinite GFS potential, thousands of times of value At present, the global financial assets have encountered black swan, and the overall market is relatively low. However, Forbes' new ecosystem across the region has demonstrated its ability to resist risks. As one of the most anticipated projects in 2020, GFS has obvious advantages over other projects. First of all, GFS is not a one click token. As the fuel consumed in the cross chain process, GFS uses dpoc, a common algorithm for hard disk mining. The total amount is constant 21 million, no additional issue is allowed! No team pre excavation! GFS is 100% mineral currency, and the biggest feature of mineral currency is the anchoring mining cost. For example, the current price of bitcoin is 8500u. A large part of the reason is that the mining machine, power and other costs are 7000u. The digital currency with the support of calculation is really valuable. Secondly, we should mention the ecological application of GFS. According to the project white paper, GFS's main uses are:
Main chain gas. It's easy to understand that any node transferring money on the GFS blockchain needs to pay gas just like bitcoin, which is a long-term demand. As Forbes blockchain involves cross chain, transfer between main networks is indispensable, and the daily gas fee is absolutely not low.
Cross chain gas, that's great. To initiate cross chain transfer, cross chain transaction and cross chain data transmission on Forbes, the nodes need to pay part of GFS as cross chain gas. Many Xiaobai don't understand the value of cross chain landing. Let's give a random example: the exchange. At present, the exchange is generally centralized, and it needs to pay a handling fee for one purchase and one sale, which is very high (22-55). Therefore, several large domestic exchanges have made a lot of money. However, if the cross chain transaction is decentralized through Forbes' cross chain system, the handling fee only needs to be paid once, and the fee is only 1 / 100 to 1 / 1000 of the current fee, which will bring a revolution to the exchange from abroad. How much revenue will Forbes get from this alone? Let alone the handling fees of financial derivatives such as futures and options. The realization of cross chain is likely to unify the encrypted financial market. Think of Ethereum, because of the creation of smart contracts, the price has doubled 10000 times in five years. How about cross chain GFS? I can't imagine.
DAPP fees, it is self-evident that DAPP will replace the centralized app in the future. The reason why DAPP can't develop now is obvious. It can't cross the chain! Can DAPP over Ethernet be switched to EOS? Can users on both sides use the same set of account books? No, it needs to be solved by Forbes cross chain protocol. Similarly, Forbes charges a small fee for GFS. But in such a large market, there is definitely a lot of money.
In addition to the application of GFS, the mining pool has the function of early securities pass, that is, holding GFS would like to have the mining pool income dividend, what is the point? Bitcoin. At present, the number one digital asset is a solid hard currency.
https://preview.redd.it/p56gxe2fnl451.png?width=1307&format=png&auto=webp&s=c2dde5f4df4dca8a3e98967b8b26538660a034fa Not to mention the influence of cross chain stable currency kusd and the high-speed growth brought by the small amount of circulation in the early stage of the project. Forbes will land on at least 10 secondary market exchanges in 2020, according to officials. In 2021, it will be listed in one of the three exchanges. At present, one of the three exchanges has reached in-depth cooperation with Forbes. The global ecosystem on the chain, as well as the real industry in the distribution, have become the support of GFS value. Therefore, GFS currently shows a far higher yield than other currencies. According to the professional estimates of rating agencies, the growth rate of GFS this year is about 180 - 900 times. It is worth noting that, according to the latest official news, the Forbes miner alliance plan has been launched. In the early nodes, Forbes mining pool can be set up, free participation in computing lease, zero cost mining and GFS reward can be obtained. It only needs to mortgage a certain amount of deposit, and the deposit is returned through the smart contract every day, and the income of 2.8 times the amount of deposit is obtained. To form a group of miners, you can also get corresponding recommendation rewards. Within two weeks after the launch, it has soared more than 8 times, representing that Forbes cooperative enterprises and communities are all optimistic about its future performance. In fact, Forbes technology has been highly recognized by global communities, nodes, global mining pools and head exchanges. The popularity of Forbes is expanding step by step. Forbes has ignited the enthusiasm of the community and investors. The liquidity in the ecosystem is developing well, and its value is expected to be thousands of times. 2020, Forbes, only up!
White Paper, Miner, Pizza … | "Old Objects" in the Cryptocurrency Museum
https://preview.redd.it/giu1ssilga151.jpg?width=900&format=pjpg&auto=webp&s=41510785ccdc0d99544ec74229f62427d1c0ce3e Museum has played the role of a time recorder. Talking about bitcoin, more than ten years has passed since the creation of it. Although it is uncomparable to the stock market with a hundred years of history, during the ten years, in the different stages of the development of bitcoin and blockchain have continuously poured in geeks, miners, speculators, newbies, leaving keywords such as sudden rich, myth, scam, belief, revolution, etc. There are also many “old objects” with stories in the “Museum” of the cryptocurrency realm. On Museum Day, let ’s review the stories brought by these “old objects”. The First Digital Currency White Paper — Bitcoin White Paper On Oct. 31, 2008, Satoshi Nakamoto released the Bitcoin white paper — A Peer-to-Peer Electronic Cash System in the cryptographic mail group where he belongs, and Bitcoin was born since then. A white paper is a document that explains the purpose and technology used in cryptocurrency. Usually a cryptocurrency uses the white paper to help people understand what it provides, and it is also an important information channel for investors to understand a project. Therefore, the level of the white paper affects people’s confidence towards the coin. In a word, in the cryptocurrency and blockchain industry, the value of a white paper is equivalent to that of a standard financing speech. The white paper plays a vital role in this emerging market. The First Public Bitcoin-Physical Transaction — Pizza Since Satoshi Nakamoto mined the Bitcoin genesis block on January 3, 2009, Bitcoin has only been spread among the small crowd and has not realized its value. Not until May 22, 2010, Bitcoin enthusiast “Laszlo Hanyecz” bought a pizza coupon worth $25 with 10,000 bitcoins. This is the first public bitcoin-physical transaction. Bitcoin has its price with 0.3 cents per bitcoin. This day has also become the famous “Bitcoin Pizza Day” in Bitcoin history. Bitcoin as the imagination of the financial system has more practical significance. The tenth anniversary is coming. How will you commemorate it? Will you buy a pizza? The First Digital Asset Exchange — Bitcoinmarket.com After the birth of Bitcoin, in addition to mining, the only way to get Bitcoin in the early days was to conduct transactions on forums or IRC (commonly known as Internet Relay Chat). However, this method involves both long transaction time and great security risk. In March 2010, the first digital asset exchange — Bitcoinmarket.com launched. However, due to lack of liquidity and transaction depth, it disappeared soon after its establishment, but Bitcoinmarket.com opened the era of the operation of the cryptocurrency realm exchange 1.0. On June 9, 2011, China’s first Bitcoin exchange — Bitcoin China (BTCChina) launched. Its founder, Yang Linke, translated Bitcoin into Chinese “比特币” for the first time. In 2013, China’s bitcoin trading entered the golden age, and exchanges sprung up. China monopolized more than 90% of the world’s bitcoin transactions. Now, if the top three exchanges Binance, Huobi Global, OKEx are the Exchange 2.0, then the index exchange represented by 58COIN called the 3.0 version, leading the trend. The First Generation of High-Performance Miner — ASIC Miner When Satoshi Nakamoto created Bitcoin, the only way to get it is to use computers (including home computers) to mine, mainly relying on the CPU to calculate. However, as the value of digital currencies such as Bitcoin has become higher and higher, mining has become an industry with the competition is getting fiercer, accompanied by increasing difficulty of mining. Therefore, hardware performance competition starts. In July 2012, the genius Jiang Xinyu (Internet nickname is “Friedcat”) from the junior class of the University of Science and Technology declared at the forum that he could make ASIC miners (chips). As far as mining computing power is concerned, ASICs can be tens of thousands or more higher than the same-generation CPUs and GPUs. At the beginning of 2013, Zhang Nanqian (Pumpkin Zhang), a suspended doctoral student from the Beijing University of Aeronautics and Astronautics, developed the ASIC miner and named it “Avalon”. In June 2013, the Friedcat’s miner USB was finally released, and it maintained 20% of the computing power of the entire network. At the end of 2013, Wu Jihan, used the tens of millions yuan earned from Friedcat through investment, worked together with Jenke group, to develop the Antminer S1. Since then, the miner manufacturer Bitmain began to enter the stage of history. It is no exaggeration to say that Friedcat and Zhang Nangeng have opened the domestic “mining” era. The Birthplace of China’s Bitcoin — Garage Coffee It is not only the “old objects” that record history, but also a place that everyone in the cryptocurrency realm aspires to. Guo Hongcai once said, “Without no The Garage Café, there will be no cryptocurrency realm today. Since it is a very mysterious place that all waves of people from the café joint together to create today’s digital asset industry. ▲ In March 2013, American student Jake Smith successfully purchased a cup of coffee at The Garage Café with 0.131 bitcoins. This move attracted the attention of CCTV, and it conducted an interview. Indeed, The Garage Café is the world ’s first entrepreneurial-themed coffee shop. It has been legendary since its establishment in 2011. The Garage Cafét is not only the core coordinate on China’s Bitcoin map, but also the birthplace of the Chinese cryptocurrency circle, where digital asset realm tycoons including Guo Hongcai, Zhao Dong, Li Xiaolai, Li Lin have made their ways. The development of digital currency is only 11 years old. Through these “old objects”, we review the various stories of this wave of technology together, hoping to help you understand the development process of the digital currency field. Meanwhile, I also remind all practitioners to use history as a mirror and forge ahead. Website: https://www.58ex.com/ Twitter: https://twitter.com/58_coin Facebook: https://www.facebook.com/coin.58COIN Telegram: https://t.me/official58 Medium: https://medium.com/@58coin_blog/
05-23 11:54 - 'Global IoT Chip Market – Industry Analysis and Forecast (2019-2026)' (self.Bitcoin) by /u/AjayMaximze removed from /r/Bitcoin within 2-12min
''' [Global IoT Chip Market]1 is expected to reach USD XX Billion by 2026 from USD 7.54 Billion in 2018 at a CAGR of XX % Industry Analysis and Forecast 2026 [link]2 This is a comprehensive global report focused on the current and future prospects of the IoT chip market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. An in-depth analysis of past trends, future trends, demographics, technological advancements, and regulatory requirements for the IoT chip market has been done in order to calculate the growth rates for each segment and sub-segments. Global IoT Chip Market2 Internet of Things (IoT) is internetworking of physical and virtual objects, that enables physical and virtual devices to relate to each other through cloud technology in order to exchange data and information. With enhanced technological advancements and collecting dependence on technology, IoT concept is expected to have an encouraging future. Hardware components of IoT include a processor, sensor, connectivity IC, memory device and the logic device. The Internet of Things (IoT) can happen with the traditional processor, sensor and other hardware components, but several concerns, including low power requirements and wireless support, have driven the evolution of platforms designed for its applications. Additionally, accumulation investments in the IoT industry to develop new IoT-based products are expected to generate demand for more IoT chips. IoT chips are being used in numerous devices and applications of various industries. Applications of IoT chips include wearable devices, healthcare, consumer electronics, and several others. The key purpose to implement IoT enabled devices is to improve safety, comfort, and efficiency of work. IoT also helps in better decision making and as result of which increases productivity. Majorly, growth in healthcare and automotive sector is directly driving the market of IOT Chip market globally. Growth in the new segment of the transportation and automotive domain is driving the demand; the new segment includes the addition of connected car product line which follows intelligent transportation system (ITS) with the advancement of the Internet on Thing (IOT) technology. The retail industry is forecasted to reach the market of IOT while becoming the leading industry in IOT usage. The other key factors that lift the market growth of IOT Chip worldwide is its capacity to process and manage a massive amount of data which is generated by the devices or gadgets. China is a major country driving the growth in the APAC region. China is developing its own individual and exciting IoT, combining its desirable economies of scale with innovative original devices and services that meet the specific needs of Chinese consumers and companies. China proves to offer economies of scale for IoT, which is unmatched by any other single country. Also, China has established an inter-agency council in 2013 to coordinate the government’s policy and action on IoT. Thus, China is a key force for the APAC region. Key players operated in market includes Intel Corporation, Qualcomm Incorporated, Texas Instruments Incorporated, Mediatek Inc., Microchip Technology Inc., Samsung Electronics Co. Ltd, STMicroelectronics NV, Cypress Semiconductor Corporation, Silicon Laboratories Inc., Telit Communications PLC, Nordic Semiconductor ASA, Semtech Corporation, Marvell Technology Group Ltd, AMD, Whiznets, Arduino, ARM Holdings PLC., Atmel Corporation, Electric Imp, Freescale Semiconductor, Nvidia, Renesas Electronics, NXP Semiconductors N.V., Huawei Technologies Co., Ltd. (China), Advanced Micro Devices, Inc. Advanced Micro Devices, Inc. Scope of Global IoT Chip Market: Global IoT Chip Market, by Hardware: • Memory Device • Processor • Sensor • Connectivity IC • Logic Device Global IoT Chip Market, by Application: • Healthcare • Consumer Electronics • Industrial • Wearable Devices • Building Automation • BFSI • Automotive & Transportation • Agriculture • Oil & Gas Global IoT Chip Market, Geography: • North America • Europe • Asia Pacific • Middle East & Africa • Latin America Key players operated in Global IoT Chip Market includes: • Intel Corporation • Qualcomm Incorporated • Texas Instruments Incorporated • Mediatek Inc. • Microchip Technology Inc. • Samsung Electronics Co. Ltd • STMicroelectronics NV • Cypress Semiconductor Corporation • Silicon Laboratories Inc. • Telit Communications PLC • Nordic Semiconductor ASA • Semtech Corporation • Marvell Technology Group Ltd • AMD • Whiznets • Arduino • ARM Holdings PLC. • Atmel Corporation • Electric Imp • Freescale Semiconductor • Nvidia • Renesas Electronics • NXP Semiconductors N.V. • Huawei Technologies Co., Ltd. • Advanced Micro Devices, Inc • Advanced Micro Devices, Inc. Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Contact info: Name: Vikas Godage Organization: MAXIMIZE MARKET RESEARCH PVT. LTD. Email: [email protected] [link]3 ''' Global IoT Chip Market – Industry Analysis and Forecast (2019-2026) Go1dfish undelete link unreddit undelete link Author: AjayMaximze 1: www.*ax**ize*a**e*r**e*rch.com/ma***t-r*por*/global-iot*chip-ma*ket/16*3/ 2: *r*vi*w.re*d.*t/*g6l**kz4i05**png?w*dth=470&*mp*f*r*at=png&auto=w**p&**p;s=f8656*ee2*d0c81d8*13*3*d492***7**6a4ed1* 3: Website:www.maximizemarketresearch.com Unknown links are censored to prevent spreading illicit content.
MyTower: A One Stop Solution for all of your Corporate Lighting Needs
https://preview.redd.it/9t9i0z19e7y31.png?width=1280&format=png&auto=webp&s=d8e3a92aa467a35a3777dd0907c190f0109b71c9 Are you a contractor, a project manager, or a consultant looking for a quality LED lighting solutions for your next tower project? We know the difficulties you face while you deal in this industry mainly because of the hectic sourcing process, trust deficiency between you and the retailers, and not to mention the expensive and inefficient payment process. The pricing being another of your concerns, of course! It is a general understanding that big projects involve the gruelling process and big funds allocation. The costs of everything that goes with the stages of building, designs, and lighting are excessively extravagant. Add to this, you need expertise in the LED lighting as there are certain specifications that no non-specialist can easily understand, and consequently, that may result in getting the wrong product at a high price. Enter BuyAnyLight (BAL) MyTower, a dedicated protocol explicitly created to facilitate the LED light sourcing process for tower projects. It offers features that make it a perfect solution for industry players such as project owners, consultants, and contractors. The BAL MyTower Protocol uses an AI-Powered matching engine that utilizes machine learning-based algorithms to ensure that the buyer’s demands are presented before the right manufacturer while taking care of quality and pricing. Moreover, it adds trust into the payment process by acting as an Escrow, meaning that your payments remain secured until and unless you have received what you had ordered. Going Beyond Lighting BAL MyTower protocol offers the utmost expertise in LED product acquisition. It ensures that clients get the best value for their money in the shortest possible time while also making sure the most competitive prices for corporate customers. Moreover, it provides you free of cost consultation from industry experts, so you can be sure that you are getting the most cutting-edge solution on the market. More reasons to consider signing-up for BAL MyTower Package? • Trustless payments enabled escrow • You pay only when you have confirmed all of the products and the design • Free of cost Lux Calculation and Design Consultation from industry experts • Free of cost-registration and proposals • Round the clock dedicated experts for all your LED lighting queries The BuyAnyLight team’s experience throughout the years and in-depth technical expertise will save you money and will give you the most effective lighting solution. If you have any questions, feel free to have a Live Chat with us on the website or leave us an email. Visithttps://buyanylight.com Check ourLinkedInprofile Join our growingTelegramCommunity Give us a Follow onTwitter,Instagram,Reddit, andFacebook Subscribe to ourYouTubechannel Join our discussions atBitcoinTalkandGitHub
New PrimeBit WebTrader, Tether accounts, and USDT Pairs
For the last months, we’ve been working on a completely new trading app. It’s ready. At the moment we are running the final tests, and it looks like the planned release date is safe. From mid-March, when you go to app.primebit.com you’ll land on the new PrimeBit WebTrader. You can log into your account with the same email and password. After logging in you can manage your DEMO and LIVE accounts using either the slide-in menu in the top left corner or the drop-down menu in the top right corner of the app. The new PrimeBit WebTrader is faster and provides a much better user interface. In a single view you get:
The chart with technical tools and indicators. You can customize the chart’s layout and save the configuration. You can easily make a snapshot of the chart and share it
A quick look into the current market Depth and Order book
Your Open Orders, Pending Orders, Orders History, Fills History, and Balance History
Finally, in the right-hand window, you get all the actions grouped together. You can get all the information about the position you want to open with the PrimeBit calculator, open orders, adjust the leverage, and add funds.
We are sure you are going to love it.
Tether accounts and trading pairs
With the new PrimeBit update we also introduce new Tether accounts. Apart from funding your trading account with Bitcoin, you can also use USDT for deposits and withdrawals. Here’s why you may consider it:
Keeping your funds in Bitcoin works great when the value of the cryptocurrency goes up. However, the Bitcoin price has been very volatile, and many traders don’t want to add another layer of uncertainty to their strategies. Tether is a stable coin pegged to the dollar, which makes its price much steadier.
Tether popularity is growing very fast. You can easily exchange it with any cryptocurrency or fiat many on multiple exchanges. You can also make direct payments with USDT.
We support both Omni and ERC-20 Tether protocols. The first is based on Bitcoin tokenization and the second run on Ethereum, which makes the transfers much faster than with Bitcoin accounts.
Additionally, as of March 3, you’ll get access to new Tether trading pairs: BTCUSDT, ETHUSDT, LTCUSDT. If you still want to trade with MetaTrader 5 (MT5) apps or the old WebTrader, they are still going to be available. You can access them through the slide-in menu. We’ll keep you up to date with more news before the upcoming update.
Incentives：The Ultimate Significance of Blockchain
Will blockchain subvert the modern company system? What is the significance of blockchain technology in the future, why can Bitcoin be hyped for over ten years and still have such strong vitality? It is impossible to know what the future world will look like without studying these issues in depth. The Cornerstone of Decentralization From monarchy to republic, planned economy to market economy, both have proved a history of decentralization, and the cornerstone of decentralized development is the incentive mechanism. From the vast history of humankind, it is not difficult to see that those very successful countries must have created more advanced incentive mechanisms. For example, the "Joint-Stock Company", a social incentive mechanism that changed human destiny, once created the first marine empire, the Netherlands. The Dutch East India Company, considered to be the first truly joint-stock company in humankind, reached its peak in 1637, with a market value of 7.2 trillion U.S. dollars - nearly seven times higher than Apple. Once the "shareholding" company was created on the earth, the hype over "stocks" began to be rooted in human genes. In 1711, the British Nanhai Co., Ltd. was established. By 1719, the share price of the South Sea Company had risen from £128 at the beginning of the year to more than £1,000 in July. The speculators included more than half of the lawmakers, and even the king could not help but tempted to subscribe for shares worth 100,000 pounds. Of course, the stock price of the South Sea eventually broke, falling from more than £1,000 to around £100. We call it the "South Sea Bubble". Isaac Newton also participated in this hype, and expectedly, ended up losing a lot. “I can calculate the motions of heavenly bodies, but not the madness of people”. Isaac Newton, 1720 Although the South Sea bubble burst, the rise of joint-stock companies in Britain has brought great strength to its colonial expansion and the industrial revolution. Later, France learned it soon. In 1716, it adopted a similar approach to the United Kingdom and gave the "Mississippi" company the right to sell stocks. By mid-1719, the stock price of the Mississippi company had risen for 13 consecutive months, and the stock price had risen from 500 The river rose to more than ten thousand rivers, an increase of more than 20 times. But Mississippi's stock price eventually broke down in 1721 and finally fell back to 500 Rivels. History has called the “Mississippi Bubble”. In the 19th century, the United States began to rise, and there were endless bubbles in rubber company stock prices and railway company stock prices. In the 20th century, the U.S. manufacturing stock price bubble broke out, including IBM and Texas Instruments, which can drive the price-earnings ratio to more than 80 times within a year, but fell back to 20-30 times a year later; In the 1990s, another high-tech stock bubble burst in the United States. Apparently, the rise of a country is accompanied by the birth of a new incentive mechanism, or the high use of certain incentive mechanisms as an inevitable hype. The rise of the Netherlands was accompanied by the prosperity of the shares of the Dutch East India Company and the birth of the world's first stock exchange in Amsterdam; the colonial expansion of the United Kingdom and France and the industrial revolution were accompanied by the stock price bubbles of the South Sea and the stock prices of joint-stock companies such as the Mississippi bubble, and then the development of joint-stock companies. The United States has become a world hegemon, where it has been accompanied by stock price bubbles again and again. However, except for "shareholding" companies, is there any other incentive mechanism for the development of the human economy? Blockchain May Provide a Different Answer The reason why joint-stock companies have a strong incentive mechanism is that in the past 300 years, humans have mainly focused on production problems. It requires a strong system to stimulate production. Joint-stock companies make capital and professionals more relevant. Combining with the national law as a guarantee (the monarch cannot override the law), so that those who own the shares can continue to obtain benefits, this form of shares has become an unchallenged consensus in the market, mobilizing the entire market to invest resources All its potential. On the other hand, suppose that the shares you own may be deprived of violence at any time. Who would be willing to invest and who would desperately risk innovation? Therefore, the creativity stimulated by the shareholding system has caused mankind to stagnate the economic aggregate for thousands of years and began to rise linearly. Many people think that this is the credit for the industrial revolution, but the industrial revolution itself has not separated from the main body of the company. However, since the development of the human economy, its needs have changed. Although human needs for material are still very strong, there is greater demand for distribution systems and new incentive mechanisms that break national boundaries. Joint-stock companies can still play an important role, but behind a joint-stock company is the state, which is a specific or even exclusive legal system. If the guarantee of a specific legal system is lost, the stock will lose its wealth attribute and the incentive mechanism will be Invalid. The blockchain will further promote the logic of the shareholding system. The blockchain can allow the subject matter of equity to exceed the limits of specific countries, that is, it can be transferred and bought and sold without the protection of any national law. Undisputed consensus system. For example, the subject matter of blockchain equity such as Bitcoin has reached a global consensus and has produced incredible incentives. The price “bubble” is similar to the various stock price bubbles after the birth of the shareholding system, indicating a new Arrival of incentives. It can be said that the blockchain we understand now is just a technology, so it is still very narrow in terms of its development and use. This was like the East India Company, the South China Sea Company, and the Mississippi Company. At that time, it was used only for the government and the king to solve debt problems and distribute wealth from colonial robbery. It did not expect the role of the shareholding system in the history of human development.
*These questions are sourced directly from Telegram Q: When you say RenVM is Trustless, Permissionless, and Decentralized, what does that actually mean? A: Trustless = RenVM is a virtual machine (a network of nodes, that do computations), this means if you ask RenVM to trade an asset via smart contract logic, it will. No trusted intermediary that holds assets or that you need to rely on. Because RenVM is a decentralized network and computes verified information in a secure environment, no single party can prevent users from sending funds in, withdrawing deposited funds, or computing information needed for updating outside ledgers. RenVM is an agnostic and autonomous virtual broker that holds your digital assets as they move between blockchains. Permissionless = RenVM is an open protocol; meaning anyone can use RenVM and any project can build with RenVM. You don't need anyone's permission, just plug RenVM into your dApp and you have interoperability. Decentralized = The nodes that power RenVM ( Darknodes) are scattered throughout the world. RenVM has a peak capacity of up to 10,000 Darknodes (due to REN’s token economics). Realistically, there will probably be 100 - 500 Darknodes run in the initial Mainnet phases, ample decentralized nonetheless. Q: Okay, so how can you prove this? A: The publication of our audit results will help prove the trustlessness piece; permissionless and decentralized can be proven today. Permissionless = https://github.com/renproject/ren-js Decentralized = https://chaosnet.renproject.io/ Q: How does Ren sMPC work? Sharmir's secret sharing? TSS? A: There is some confusion here that keeps arising so I will do my best to clarify.TL;DR: *SSS is just data. It’s what you do with the data that matters. RenVM uses sMPC on SSS to create TSS for ECDSA keys.*SSS and TSS aren’t fundamental different things. It’s kind of like asking: do you use numbers, or equations? Equations often (but not always) use numbers or at some point involve numbers. SSS by itself is just a way of representing secret data (like numbers). sMPC is how to generate and work with that data (like equations). One of the things you can do with that work is produce a form of TSS (this is what RenVM does). However, TSS is slightly different because it can also be done *without* SSS and sMPC. For example, BLS signatures don’t use SSS or sMPC but they are still a form of TSS. So, we say that RenVM uses SSS+sMPC because this is more specific than just saying TSS (and you can also do more with SSS+sMPC than just TSS). Specifically, all viable forms of turning ECDSA (a scheme that isn’t naturally threshold based) into a TSS needs SSS+sMPC. People often get confused about RenVM and claim “SSS can’t be used to sign transactions without making the private key whole again”. That’s a strange statement and shows a fundamental misunderstanding about what SSS is. To come back to our analogy, it’s like saying “numbers can’t be used to write a book”. That’s kind of true in a direct sense, but there are plenty of ways to encode a book as numbers and then it’s up to how you interpret (how you *use*) those numbers. This is exactly how this text I’m writing is appearing on your screen right now. SSS is just secret data. It doesn’t make sense to say that SSS *functions*. RenVM is what does the functioning. RenVM *uses* the SSSs to represent private keys. But these are generated and used and destroyed as part of sMPC. The keys are never whole at any point. Q: Thanks for the explanation. Based on my understanding of SSS, a trusted dealer does need to briefly put the key together. Is this not the case? A: Remember, SSS is just the representation of a secret. How you get from the secret to its representation is something else. There are many ways to do it. The simplest way is to have a “dealer” that knows the secret and gives out the shares. But, there are other ways. For example: we all act as dealers, and all give each other shares of our individual secret. If there are N of us, we now each have N shares (one from every person). Then we all individually add up the shares that we have. We now each have a share of a “global” secret that no one actually knows. We know this global secret is the sum of everyone’s individual secrets, but unless you know every individual’s secret you cannot know the global secret (even though you have all just collectively generates shares for it). This is an example of an sMPC generation of a random number with collusion resistance against all-but-one adversaries. Q: If you borrow Ren, you can profit from the opposite Ren gain. That means you could profit from breaking the network and from falling Ren price (because breaking the network, would cause Ren price to drop) (lower amount to be repaid, when the bond gets slashed) A: Yes, this is why it’s important there has a large number of Darknodes before moving to full decentralisation (large borrowing becomes harder). We’re exploring a few other options too, that should help prevent these kinds of issues. Q: What are RenVM’s Security and Liveliness parameters? A: These are discussed in detail in our Wiki, please check it out here: https://github.com/renproject/ren/wiki/Safety-and-Liveliness#analysis Q: What are the next blockchain under consideration for RenVM? A: These can be found here: https://github.com/renproject/ren/wiki/Supported-Blockchains Q: I've just read that Aztec is going to be live this month and currently tests txs with third parties. Are you going to participate in early access or you just more focused on bringing Ren to Subzero stage? A: At this stage, our entire focus is on Mainnet SubZero. But, we will definitely be following up on integrating with AZTEC once everything is out and stable. Q: So how does RenVM compare to tBTC, Thorchain, WBTC, etc..? A: An easy way to think about it is..RenVM’s functionality is a combination of tBTC (+ WBTC by extension), and Thorchain’s (proposed) capabilities... All wrapped into one. Just depends on what the end-user application wants to do with it. Q1: What are the core technical/security differences between RenVM and tBTC?A1: The algorithm used by tBTC faults if even one node goes offline at the wrong moment (and the whole “keep” of nodes can be penalised for this). RenVM can survive 1/3rd going offline at any point at any time. Advantage for tBTC is that collusion is harder, disadvantage is obviously availability and permissionlessness is lower. tBTC an only mint/burn lots of 1 BTC and requires an on-Ethereum SPV relay for Bitcoin headers (and for any other chain it adds). No real advantage trade-off IMO. tBTC has a liquidation mechanism that means nodes can have their bond liquidated because of ETH/BTC price ratio. Advantage means users can get 1 BTC worth of ETH. Disadvantage is it means tBTC is kind of a synthetic: needs a price feed, needs liquid markets for liquidation, users must accept exposure to ETH even if they only hold tBTC, nodes must stay collateralized or lose lots of ETH. RenVM doesn’t have this, and instead uses fees to prevent becoming under-collateralized. This requires a mature market, and assumed Darknodes will value their REN bonds fairly (based on revenue, not necessarily what they can sell it for at current —potentially manipulated—market value). That can be an advantage or disadvantage depending on how you feel. tBTC focuses more on the idea of a tokenized version of BTC that feels like an ERC20 to the user (and is). RenVM focuses more on letting the user interact with DeFi and use real BTC and real Bitcoin transactions to do so (still an ERC20 under the hood, but the UX is more fluid and integrated). Advantage of tBTC is that it’s probably easier to understand and that might mean better overall experience, disadvantage really comes back to that 1 BTC limit and the need for a more clunky minting/burning experience that might mean worse overall experience. Too early to tell, different projects taking different bets. tBTC supports BTC (I think they have ZEC these days too). RenVM supports BTC, BCH, and ZEC (docs discuss Matic, XRP, and LTC). Q2: This are my assumed differences between tBTC and RenVM, are they correct? Some key comparisons: -Both are vulnerable to oracle attacks -REN federation failure results in loss or theft of all funds -tBTC failures tend to result in frothy markets, but holders of tBTC are made whole -REN quorum rotation is new crypto, and relies on honest deletion of old key shares -tBTC rotates micro-quorums regularly without relying on honest deletion -tBTC relies on an SPV relay -REN relies on federation honesty to fill the relay's purpose -Both are brittle to deep reorgs, so expanding to weaker chains like ZEC is not clearly a good idea -REN may see total system failure as the result of a deep reorg, as it changes federation incentives significantly -tBTC may accidentally punish some honest micro-federations as the result of a deep reorg -REN generally has much more interaction between incentive models, as everything is mixed into the same pot. -tBTC is a large collection of small incentive models, while REN is a single complex incentive model A2: To correct some points: The oracle situation is different with RenVM, because the fee model is what determines the value of REN with respect to the cross-chain asset. This is the asset is what is used to pay the fee, so no external pricing is needed for it (because you only care about the ratio between REN and the cross-chain asset). RenVM does rotate quorums regularly, in fact more regularly than in tBTC (although there are micro-quorums, each deposit doesn’t get rotated as far as I know and sticks around for up to 6 months). This rotation involves rotations of the keys too, so it does not rely on honest deletion of key shares. Federated views of blockchains are easier to expand to support deep re-orgs (just get the nodes to wait for more blocks for that chain). SPV requires longer proofs which begins to scale more poorly. Not sure what you mean by “one big pot”, but there are multiple quorums so the failure of one is isolated from the failures of others. For example, if there are 10 shards supporting BTC and one of them fails, then this is equivalent to a sudden 10% fee being applied. Harsh, yes, but not total failure of the whole system (and doesn’t affect other assets). Would be interesting what RenVM would look like with lots more shards that are smaller. Failure becomes much more isolated and affects the overall network less. Further, the amount of tBTC you can mint is dependent on people who are long ETH and prefer locking it up in Keep for earning a smallish fee instead of putting it in Compound or leveraging with dydx. tBTC is competing for liquidity while RenVM isn't. Q: I understand correctly RenVM (sMPC) can get up to a 50% security threshold, can you tell me more? A: The best you can theoretically do with sMPC is 50-67% of the total value of REN used to bond Darknodes (RenVM will eventually work up to 50% and won’t go for 67% because we care about liveliness just as much as safety). As an example, if there’s $1M of REN currently locked up in bonded Darknodes you could have up to $500K of tokens shifted through RenVM at any one specific moment. You could do more than that in daily volume, but at any one moment this is the limit.Beyond this limit, you can still remain secure but you cannot assume that players are going to be acting to maximize their profit. Under this limit, a colluding group of adversaries has no incentive to subvert safety/liveliness properties because the cost to attack roughly outweighs the gain. Beyond this limit, you need to assume that players are behaving out of commitment to the network (not necessarily a bad assumption, but definitely weaker than the maximizing profits assumption). Q: Why is using ETH as collateral for RenVM a bad idea? A: Using ETH as collateral in this kind of system (like having to deposit say 20 ETH for a bond) would not make any sense because the collateral value would then fluctuate independently of what kind of value RenVM is providing. The REN token on the other hand directly correlates with the usage of RenVM which makes bonding with REN much more appropriate. DAI as a bond would not work as well because then you can't limit attackers with enough funds to launch as many darknodes as they want until they can attack the network. REN is limited in supply and therefore makes it harder to get enough of it without the price shooting up (making it much more expensive to attack as they would lose their bonds as well). A major advantage of Ren's specific usage of sMPC is that security can be regulated economically. All value (that's being interopped at least) passing through RenVM has explicit value. The network can self-regulate to ensure an attack is never worth it. Q: Given the fee model proposal/ceiling, might be a liquidity issue with renBTC. More demand than possible supply?A: I don’t think so. As renBTC is minted, the fees being earned by Darknodes go up, and therefore the value of REN goes up. Imagine that the demand is so great that the amount of renBTC is pushing close to 100% of the limit. This is a very loud and clear message to the Darknodes that they’re going to be earning good fees and that demand is high. Almost by definition, this means REN is worth more. Profits of the Darknodes, and therefore security of the network, is based solely on the use of the network (this is what you want because your network does not make or break on things outside the systems control). In a system like tBTC there are liquidity issues because you need to convince ETH holders to bond ETH and this is an external problem. Maybe ETH is pumping irrespective of tBTC use and people begin leaving tBTC to sell their ETH. Or, that ETH is dumping, and so tBTC nodes are either liquidated or all their profits are eaten by the fact that they have to be long on ETH (and tBTC holders cannot get their BTC back in this case). Feels real bad man. Q: I’m still wondering which asset people will choose: tbtc or renBTC? I’m assuming the fact that all tbtc is backed by eth + btc might make some people more comfortable with it. A: Maybe :) personally I’d rather know that my renBTC can always be turned back into BTC, and that my transactions will always go through. I also think there are many BTC holders that would rather not have to “believe in ETH” as an externality just to maximize use of their BTC. Q: How does the liquidation mechanism work? Can any party, including non-nodes act as liquidators? There needs to be a price feed for liquidation and to determine the minting fee - where does this price feed come from? A: RenVM does not have a liquidation mechanism. Q: I don’t understand how the price feeds for minting fees make sense. You are saying that the inputs for the fee curve depend on the amount of fees derived by the system. This is circular in a sense? A: By evaluating the REN based on the income you can get from bonding it and working. The only thing that drives REN value is the fact that REN can be bonded to allow work to be done to earn revenue. So any price feed (however you define it) is eventually rooted in the fees earned. Q: Who’s doing RenVM’s Security Audit? A: ChainSecurity | https://chainsecurity.com/ Q: Can you explain RenVM’s proposed fee model? A: The proposed fee model can be found here: https://github.com/renproject/ren/wiki/Safety-and-Liveliness#fees Q: Can you explain in more detail the difference between "execution" and "powering P2P Network". I think that these functions are somehow overlapping? Can you define in more detail what is "execution" and "powering P2P Network"? You also said that at later stages semi-core might still exist "as a secondary signature on everything (this can mathematically only increase security, because the fully decentralised signature is still needed)". What power will this secondary signature have? A: By execution we specifically mean signing things with the secret ECDSA keys. The P2P network is how every node communicates with every other node. The semi-core doesn’t have any “special powers”. If it stays, it would literally just be a second signature required (as opposed to the one signature required right now). This cannot affect safety, because the first signature is still required. Any attack you wanted to do would still have to succeed against the “normal” part of the network. This can affect liveliness, because the semi-core could decide not to sign. However, the semi-core follows the same rules as normal shards. The signature is tolerant to 1/3rd for both safety/liveliness. So, 1/3rd+ would have to decide to not sign. Members of the semi-core would be there under governance from the rest of our ecosystem. The idea is that members would be chosen for their external value. We’ve discussed in-depth the idea of L<3. But, if RenVM is used in MakerDAO, Compound, dYdX, Kyber, etc. it would be desirable to capture the value of these ecosystems too, not just the value of REN bonded. The semi-core as a second signature is a way to do this. Imagine if the members for those projects, because those projects want to help secure renBTC, because it’s used in their ecosystems. There is a very strong incentive for them to behave honestly. To attack RenVM you first have to attack the Darknodes “as per usual” (the current design), and then somehow convince 1/3rd of these projects to act dishonestly and collapse their own ecosystems and their own reputations. This is a very difficult thing to do. Worth reminding: the draft for this proposal isn’t finished. It would be great for everyone to give us their thoughts on GitHub when it is proposed, so we can keep a persistent record. Q: Which method or equation is used to calculate REN value based on fees? I'm interested in how REN value is calculated as well, to maintain the L < 3 ratio? A: We haven’t finalized this yet. But, at this stage, the plan is to have a smart contract that is controlled by the Darknodes. We want to wait to see how SubZero and Zero go before committing to a specific formulation, as this will give us a chance to bootstrap the network and field inputs from the Darknodes owners after the earnings they can make have become more apparent.
A HISTORY OF HUOBI Huobi was founded in 2013 by their current CEO and chairman, Leon Li. Li’s background includes having attended Tshingua University, specializing in Automation. Before starting the Huobi Group, Li spent time as a computer engineer at Oracle. In December of 2013, Huobi was named as the largest digital asset exchange operating in China. 2017 saw Huobi extend their limbs into Korea, Singapore, and Japan. Currently, Huobi has headquarters of various financial sectors based in: Singapore; South Korea; Japan; Australia; Indonesia; Russia; Argentina; Thailand; and China. The company has strived to give customers not only a great exchange, but a great resource for any service one may need. Despite the many difficulties faced with Chinese government in regards to cryptocurrency laws, Huobi has managed to adapt to the changes and thrive globally, eventually branching off into various sectors including venture capital, a cryptocurrency wallet project, and a division dedicated to working with mining pools. HUOBI'S PLATFORM spot trading : Huobi offers several different platforms to serve any customer’s needs. For starters, Huobi offers a standard spot trading platform that operates similarly to many other spot trading platforms in the industry. The platform features a multi-timeframe chart, a depth chart, and integration with TradingView (including their tools). Customers are able to view the order book and the asset trading history, as well as their own personal order history. Limit orders, Market orders, and Stop-Limit orders are all available options for traders. margin trading : For the trader that prefers to trade with a little more volume or risk, Huobi offers a Margin trading platform. Customers can apply for loans through Huobi to trade a greater quantity of cryptocurrencies and profit from the price spread. The original loan must be paid back, and accounts can be liquidated if the risk ratio falls below 110% (calculated as: [(Loaned Amount + Tradable Balance) Total Asset] / [(Interest Payable + Loaned Amount)] x 100%.) Traders can margin trade with Bitcoin; Ethereum; XRP; Litecoin; Bitcoin Cash; and EOS. These assets can be traded with USDT or BTC. futures trading : Huobi also offers a Futures trading platform. While margin trading can be risky, trading contracts is said to be very high-risk. With that being said, Huobi offers Weekly, Bi-Weekly, and Quarterly contracts in Bitcoin; Ethereum Classic; Ethereum; EOS; Litecoin; Bitcoin Cash; XRP; TRX; and Bitcoin SV. OTC(P2P) - The OTC, or over-the-counter, section of Huobi offers potential buyers and sellers a way to move large quantities of coins without exposure to the fickle exchange market. Certified merchants can register here, and slippage can be minimized by matching buyers and sellers directly instead of creating market orders. HUOBI APPS While you do have the online trading interface, Huobi does have computer programs and mobile apps that you can use. I found that the PC programmes were more functional as they did not have to rely on the PC browser and were hence much faster. They also have better charting and you are in more control of your trading parameters. These programs are available on Windows and Mac devices. However, if you are a trader that is always on the go, that is where the Huobi mobile apps come in. These were developed for the main exchange but you can switch to the derivative markets on the futures and swaps platform. This was a pretty well designed application and you have one-touch ordering as well as some basic charting functionality. The app is available in iOS and Android and you can head on over to the respective app stores to get a sense of the feedback. EXCHANGE SECURITY Huobi operates a hot and cold wallet storage procedure. This means that they keep the vast amount of their coin holdings in an offline environment away from hackers. They then have a smaller percentage in “hot” wallets with multisig capability. They also operate a decentralized server structure around the world which can ensure uptime irrespective of whether one of the servers goes down. You can think of this as effective load balancing. Finally, they have anti DDoS measures in place. We all know that crypto exchanges are prime targets for Denial of Service attacks and it can be quite frustrating when these are perpetrated in peak market times. IS HUOBI TRUSTWORTHY? Huobi, like many exchanges in the space, has had, at one time, some shady history, but for the most part, has managed to maintain a clean reputation. Historically, Chinese exchanges have shown to operate in accordance with different standards, with many exchanges having to suffer at the will and whim of the Chinese government. Some of the controversy Huobi has seen in the past has been a result of this (particularly with the Chinese ban on ICO tokens). It should be noted that in 2017, the exchange did invest into “wealth-management products” using idle customer funds. This sort of activity shouldn’t be taken lightly. However, with that being said, the exchange continues to turn over a large amount of volume. For the most part, the exchange can be considered a trustworthy platform to trade popular and exotic cryptocurrencies. This does not mean it is entirely safe to store user funds on the exchange, as the exchange (or the user funds) can be susceptible to risk at any given moment. No matter how comfortable one may be with the internet, one should always remember that the internet is not as safe as many would like to believe. Huobi does have measures in place in the unfortunate event that an account is breached, and if verifiable, the customer may be able to retrieve lost funds. A unique feature offered on Huobi is their Official Media Authenticator. This essentially lets users enter the URL of a content channel to see if the channel is authentic. A feature like this, while seemingly simple, could save anyone from potentially losing their funds due to a scam or phishing website. HUOBI REVIEW VERDICT Huobi Global offers a signficant host of features to its users and has maintained its credibility over a long period of time. This is largely one of the main reasons it a ranked as a top 4 exchange by liquidity as its users trust their funds there. After establishing itself in Asia, Huobi is trying to branch out and take on other areas of the globe which is great news for Western traders. Additionally, the Huobi prime platform could provide some great opportunities for the exchange users moving forward. Huobi Website: https://www.huobi.com/topic/invited/?invite_code=q7g23 Huobi Indian Community: https://t.me/huobiglobalindia Huobi Global Community: https://t.me/huobiglobalofficial
Understanding Tether: Why it accounts for a substantial part of the crypto market cap and why its the #1 outstanding issue in crypto markets today
In this post I will go in-depth on:
How Tether got to be what it is today
Why Tether's market cap is a lot more than 0.5% of the total market cap for crypto you see on CoinMarketCap
Tether printing timing
What could happen to the market if Tether is found to not be backed by reserves
Tether is incredibly important to the cryptocurrency market ecosystem and I've noticed far too few people understand what is going on. Very little actual discussion of the 2nd biggest crypto by volume happens here and whenever someone starts a discussion they most often got slapped for "FUD". Tether themselves recently hired the major New York based PR firm 5W to spread positive information online and take down critics, I'm sure some of their operatives are probably on Reddit. But its absolutely critical you understand the risks behind Tether and especially now with the explosion in reserve liability, breakdown in relationship with banks and their auditor and recently announced subpoena.
What exactly is Tether and what happened so far?
Tether is a cryptocurrency asset issued by Tether Limited (incorporated in the British Virgin Islands and a sister company of Bitfinex), on top of the Bitcoin blockchain through the Omni Protocol Layer. It is meant to give people a "stablecoin", for example a merchant who accepts bitcoin but fears its volatility could shift bitcoin into tether, which can be easier to do than exchanging bitcoin for dollars. Recently they've also added an Ethereum-based ERC20 token. Tether Ltd claims that each one of the tokens issued is backed by actual US dollar (and more recently Euro) reserves. The idea is that when a business partner deposits US dollars in Tether’s bank account, Tether creates a matching amount of tokens and transfers them to that partner, it is NOT a fractional reserve system. Tether makes the two following key promises in its whitepaper on which the entire premise is build:
Each tether issued will be backed by the equivalent amount of currency unit (one USDTether equals one dollar). Professional auditors will regularly verify, sign, and publish our underlying bank balance and financial transfer statement.
Tether is centralized and dependent on your trust of Bitfinex/Tether Limited, and that the people behind it are honest people. For the new entrants to this market it will be greatly beneficial understand the timeline of Tether and their connection to Bitfinex. A brief timeline:
Bitfinex operators Phil Potter and CFO Giancarlo Devasini set up Tether Limited in the British Virgin Islands, but told the public that Bitfinex and Tether are completely separate. Throughout 2015 and 2016, the amount of Tether stays relatively flat.
In August 2nd, 2016, the second-largest digital currency exchange heist in history happened, when Bitfinex lost nearly 120,000 bitcoin. Bitfinex never revealed full details of the hack, but BitGo (the security company that had to sign off on the transactions) claims its servers were not breached.
Just 4 days after the hack Bitfinex “socializes” its losses from the theft by announcing a 36 percent haircut for almost all of its customers. In return, customers receive BFX tokens, initially valued at $1 each.
Two weeks after the hack Bitfinex announces it has hired Ledger Labs, to investigate the theft and perform a financial audit of its cryptocurrency and fiat assets. The public nevers sees the results of the investigation, and months later, Bitfinex admits it never actually hired Ledger Labs to perform an audit to begin with.
In May 2017, after long standing calls for an actual audit, Bitfinex hires Friedman LLP to "complete a comprehensive balance sheet audit."
November 7, 2017: Leaked documents dubbed “Paradise Papers” reveal Bitfinex and Tether are run by the same individuals.
November 19, 2017: Tether is hacked, with 31 million USDT suddenly disappearing. Tether Limited reacts to this by creating a hard fork.
December 4, 2017: Right after hiring the PR firm 5W to help improve their image, Bitfinex hires law firm Steptoe & Johnson and threatens legal action against critics.
December 6, 2017 - CFTC issues a subpoena to Tether and Bitfinex. This news isn't made public until the end of January.
December 21, 2017 : Without making any formal announcement, Bitfinex appears to suddenly close all new account registrations. Those trying to register for a new account are asked for a mysterious referral code, but no referral code seems to exist.
After a month of being closed to new registrations, Bitfinex announces it is reopening its doors, but now requires new customers to deposit $10,000 before they can begin trading.
Friedman LLP completely cut ties with Tether on January 27, 2017.
Most common misconception: Tether is only a small part of the total market cap
One of the most common misconception people have about cryptocurrencies is that the "market cap" amount they see on CoinMarketCap.com is actually the amount of money that is invested in each coin. I often hear people online dismiss any issue with tether by simply claiming its not big enough to cause any effect, saying "Well Tether is only $2.2 billion on CoinMarketCap and the market is 400 billion, its only 0.5% of the market". But this misunderstands what market capitalization for cryptocurrency is, and just how different the market cap for Tether is to every other token. The market cap is simply the last trade price times the circulating supply. It doesn't take into account the order book depth at all. The majority of Bitcoin (and most coins) are held by those who either mined or purchased for a very low price early on and simply held on as very small portions of the total supply was rapidly bid up to their current price. An increase in market cap of X does NOT represent an inflow of X dollars invested, not even close. A 400 billion dollar market cap for crypto does NOT mean that there is 400 billion dollars underwriting the assets. Meanwhile a 2 billion dollar Tether market cap means there should be exactly $2 billion backing up the asset. Nobody can tell for sure exactly how much money has been invested in cryptocurrency market, but analysts from JPMorgan found that there was only net inflow of $6 billion fiat that resulted in $300 billion market cap at the time. This gives us a roughly 50:1 ratio of market cap to fiat inflow. Prominent crypto evangelist Julian Hosp gives the following estimate: "For a cryptocurrency to have a market cap of $1 billion, maybe only $50 million actually moved into the cryptocurrency." For Tether however the market cap is simply the outstanding supply, 2.2 billion USDT is actually equal to 2.2 billion USD. In order to get $50 USDT you have to deposit $50 real U.S. dollars and then 50 completely new tokens will be issued, which never existed before on the market. What is also often ignored is that Bitfinex allows margin trading, at a 3.3x leverage. Bitfinexed did an excellent analysis on how tether is entering Bitfinex to fund margin positions There are $2.2 billion in Tether outstanding and the current market cap of the entire market is $400 billion according to CoinMarketCap. You can actually calculate Tether as a % of total fiat invested in the market according to the JP Morgan estimate, the following table outlines for a scenario of no margin lending and 15/25% of tether being on a 3.3x leverage margin account:
Fiat Inflow/Market Cap Ratio
Tether as % of total market (no margin)
Tether as % of total market (15% on margin)
Tether as % of total market (25% on margin)
JP Morgan estimate (50:1)
Even without any margin lending Tether is underwriting the worth of about 27.5% of the cryptocurrency market, and if we assume only 25% was leveraged out at 3.3x on margin we have a whole 43% of the market cap being driven by Tether inflow. A much better indicator on CoinMarketCap of just how influential Tether is actually the volume, its currently the 2nd biggest cryptocurrency by volume and there are even days where its volume exceeds its market cap. What this all means is that not only is the market cap for cryptocurrencies drastically overestimating the amount of actual fiat capital that is underwriting those assets, but a substantial portion of the entire market cap is being derived from the value of Tether's market cap rather than real money. Its incredibly important that more new investors realize that Tether isn't a side issue or a minor cog in the machine, but one of the core underlying mechanisms on which the entire market worth is built. Ensuring that whoever controls this stablecoin is honest and transparent is absolutely critical to the health of the market.
Two main concerns with Tether
The primary concerns with Tether can be split into two categories:
Tether issuance timing - Does Tether Ltd issue USDT organically or is it timed to stop downward selling pressure?
Reserves - Does Tether Ltd actually have the fiat reserves at a 1:1 ratio, and why is there still no audit or third party guarantee of this?
Does Tether print USDT to prop up Bitcoin and other cryptocurrencies?
In the last 3 months the amount of USDT has nearly quadrupled, with nearly a billion being printed in January alone. Some people have found the timing of the most recent batch of Tether as highly suspect because it seemed to coincide with Bitcoin's price being propped up. https://www.nytimes.com/2018/01/31/technology/bitfinex-bitcoin-price.html This was recently analyzed statistically:
Author’s opinion - it is highly unlikely that Tether is growing through any organic business process, rather that they are printing in response to market conditions. Tether printing moves the market appreciably; 48.8% of BTC’s price rise in the period studied occurred in the two-hour periods following the arrival of 91 different Tether grants to the Bitfinex wallet. Bitfinex withdrawal/deposit statistics are unusual and would give rise to further scrutiny in a typical accounting environment.
https://www.tetherreport.com I'm still undecided on this and I would love to see more statistical analysis done, because the price of Bitcoin is so volatile while Tether printing only happens in large batches. Simply looking at the Bitcoin price graph over the last 3 months and then the Tether printing its pretty clear there is a relationship but it doesn't seem to hold over longer periods. Ultimately to me this timing isn't that much of an issue, as long Tether is backed by US dollars. If Bitfinex was timing the prints then it accounts to not much more than an organized pumping scheme, which isn't a fundamental problem. The much more serious concern is whether those buy order are being conducted on the faith of fictitious dollars that don't exist, regardless of when those buy orders occur.
This engagement does not contemplate tests of accounting records or the performance of other procedures performed in an audit or attest engagement. Our procedures performed are not for the purpose of providing assurance...In addition, our services do not include determination of compliance with laws and regulations in any jurisdiction.
They state right from the beginning that this is a consultancy job (not an audit), and that its not meant to be assurance to third parties. Doing a consultancy job is just doing a task asked by your customer. In a consultancy job you take information as true from the client, and you have no mandate to verify whether your customer's claims are true or not. The way they checked is simply asking Tether to provide them the information:
All inquiries made through the consulting process have been directed towards, and the data obtained from, the Client and personnel responsible for maintaining such information.
Tether provided a screenshots of twp bank balances. One of these is in the name of Tether Limited, and while the other is a personal account of an individual who Tether Limited claims has a trust agreement with them:
As of September 15, 2017, the bank held $60,919,810 in an account in the name of an in individual for the benefit of Tether Limited. FLPP obtained an engagement letter for an interim settlement plan between that individual and Tether Limited and that according to Tether Limited, is the relevant agreement with the trustee. FLLP did not evaluate the substance of the letter and makes no representation about its legality.
Even worse is that later on in Note 1, they clearly claim that there is no actual evidence that this engagement letter or trust has any legal merit:
Note 1: FLLP makes no representations about sufficiency or enforceability of any trust agreement between the trustee and the Client
Essentially what this is saying is that the trust agreement may not even be worth the paper it’s printed on. And most importantly… Note 2:
“FLLP did not evaluate the terms of the above bank accounts and makes no representations about the clients ability to access funds from the accounts or whether the funds are committed for purposes other than Tether token redemptions”
Basically Tether gave them a name of an individual with $60 million in their account according to a screenshot, Tether then gave them a letter saying that there is a trust agreement between this individual and Tether Limited. They also have account with $382 million but no guarantee that this account holds to any lien or other commitments, or that it can be accessed. Currently Tether has 2.2 billion USDT outstanding and we have absolutely no idea whether this is actually backed by anything, and the long promised audit is still outstanding.
What happens if its revealed that Tether doesn't have its US dollar reserves?
According to Thomas Glucksmann, head of business development at Gatecoin: "If a tether debacle unfolds, it will likely cause quite a devastating ripple effect across many of the exchanges that see most of their volumes traded against the supposedly USD-backed cryptocurrency." According to Nicholas Weaver, a senior researcher at the International Computer Science Institute at Berkeley: "You could see a spike in prices in tether-only bitcoin exchanges. So, on those exchanges only you will see a run up in price compared to the bitcoin exchanges that actually work with actually money. So you would see a huge price diverge as people see that only way they can turn tether into real money is to buy other cryptocurrency then move to another exchange. That is a bank run." I definitely see the crypto equivalent of a bank run, as people actually try to secure their gains an realize that this money doesn't actually exist within the system:
If traders lose confidence in it and its value starts to drop, “people will run for the door,” says Carlson, the former Wall Street trader. If Tether can’t meet all its customers’ demand for dollars (and its Terms of Service suggest that in many cases it won’t even try), tether holders will try to snap up other cryptocurrencies instead, temporarily causing prices for those currencies to soar. With tether’s role as an inter-exchange facilitator compromised, investors might lose faith in cryptocurrencies more generally. “At the end of the day, people would be losing substantial sums, and in the long term this would be very bad for cryptocurrencies,” says Emin Gun Sirer, a Cornell professor and co-director of its Initiative for Cryptocurrencies and Smart Contracts. Another concern is that Bitfinex might simply shut down, pocketing the bitcoins it has allegedly been stockpiling. Because people who trade on Bitfinex allow the exchange to hold their money while they speculate, these traders could face substantial losses. “The exchanges are like unregulated banks and could run off with everyone’s money,” says Tony Arcieri, a former Square employee turned entrepreneur trying to build a legally regulated exchange.
Tether-enabled exchanges will see a massive spike in Bitcoin and cryptocurrency prices as everyone leaves Tether. Noobs in these exchanges will think they are now millionaires until they realize they are rich in tethers but poor in dollars.
Exchanges that have not integrated Tether will experienced large drops in Bitcoin and alts as experienced investors flee crypto into USD.
There will be a flight of Bitcoin from Tether-integrated exchanges to non-Tether exchanges with fiat off-ramps. Exchanges running small fractional reserves will be exposed, further increasing calls for greater reserves requirements.
The exchanges might slam the doors shut on withdrawals.
Many exchanges that own large balances of Tether, especially Bitfinex, will likely become insolvent.
There will be lawsuits flying everywhere and with Tether Limited being incorporated on a Carribean Island whose solvency and bankruptcy laws will likely ensure they don't ever get much back. This could take years and potentially push away new investors from entering the space.
We can't be 100% completely sure that Tether is a scam, but its so laiden with red flags that at this point I would call it the biggest systematic risk in the crypto space. Its bigger than any nation's potential regulatory steps because it cuts right into the issue of trust across the entire ecosystem. Ultimately Tether is centralizing one of the very core mechanics of the cryptocurrency markets and asking you to trust one party to be the safekeeper, and I really see very little reason to trust Bitfinex given their history of lying and screwing over their own customers. I think that Tether initially started as a legit business to facilitate the ease of moving money and avoiding regulations, but somewhere along the lines greed and/or incompetence took over (something that seems common with Bitfinex's previous actions). Right now we're playing proverbial hot potato, and as long as people believe that Tether is worth a dollar everything is fine, but as some point the Emperor will have to step out from hiding and somebody will point out they have no clothes. In the long term I really hope once Tether collapses we can move on and get the following two implemented which would greatly improve the market for all investors:
Actual USD fiat pairings on the major exchanges for the major currencies
Regulatory rules on exchange reserve requirements
I had watched the Bitconnect people insist for the last 2 years that everything about Bitconnect made perfect sense because they were getting paid daily. The scam works until one day it suddenly doesn't. Tether could still come clean and avoid all of this "FUD" by simply getting a simple review of their banking, they don't even need a full audit. If everything was legit with Tether, it would be incredibly easy to have a segregated bank account with the funds used solely to back up Tether, then have an third party accounting firm simply review the account and a bank reconciliation statement then spend a few hours in contact with the bank to ensure no outstanding liabilities are held on that balance. This is extremely basic stuff, it would take a few hours to set up and wouldn't take a lot of man-hours for a qualified account to do, and yet they don’t do it. Why? Why hire a major PR firm and spend god knows how much money to pay professional PR representatives to attack "FUD" online instead? I think I know why.
Bitcoin price today is $13,157.97 USD with a 24-hour trading volume of $23,730,036,740 USD. Bitcoin is up 1.33% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $243,779,373,909 USD. It has a circulating supply of 18,527,131 BTC coins and a max. supply of 21,000,000 BTC coins. You can find the top exchanges to trade Bitcoin listed on our ... Bitcoincharts provides real-time CNY price data of the OKCoin exchange including charts, orderbook and more. BITCOIN CALCULATOR. Understand what Bitcoin is, how it works and where to buy some to invest with. Bitcoin is different than any currency you’ve used before, so it`s very important to understand some key points. You can use them to send or receive any amount of money, with anyone, anywhere in the world, at very low cost. Bitcoin payments are impossible to block, and bitcoin wallets can’t ... You can use it as Bitcoin ROI Calculator. Market Cap: $266b. 24H Vol: $136b. btc dominance: 62.39%. Oct 26, 2020 ; Login ... StableCoins Have Become A Safe Bet in The Volatile Crypto Market And A Fuel For DeFi. Bitbond STO - First of its Kind German Security Token Offering . Real-Estate Giant That Owns World’s Tallest Building Burj Khalifa Plans an ICO. The Money Circle Platform, FundChain ... Bitcoin was originally invented by an unknown person or group under the pseudonym Satoshi Nakamoto and released as open-source software in 2009. Bitcoin has long been the face of cryptocurrency, and research produced by the University of Cambridge estimates that in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, with most of them using Bitcoin.
CLICK HERE FOR MORE INFO: https://rebrand.ly/forex33 And start earning in the Forex Market Now! In our growing international business setting, there are busi... Test Scanning my Stainless Steel Bitcoin Wallet BITCOIN PRICE , BITCOIN FUTURE in doubt http://youtu.be/eO-yrpQpIT8 What is NAMECOIN BITCOIN'S First Fork htt... Maximum daily profits proved using my crypto trade calculator Net Profit: $671.88 ROI: 38.98% Must watch video: https://www.youtube.com/watch?v=Xc9TwWJZoWM&l... Please subscribe to this channel and click the bell for updates. Use the State block to direct a downstream message when one of a collection of possibilities... Bitcoin price breaks out bullish on the short term as btc tests a key trendline on the bitcoin charts. In this short btc technical analysis today, we look at btc price on the hourly chart and ...