Surprising Facts About Goldman Sachs New Digital Head ...

I am Richie Lai, co-founder of Bittrex, and today I’m joined by some industry colleagues, so you can Ask Us Anything on the Bitcoin Halvening.

My name is Richie Lai, I am the co-founder of Bittrex, one of the longest running cryptocurrency exchanges on earth.
Today I’m joined by a few colleagues and friends to answer your questions about the Bitcoin halving. With the spike in interest in Bitcoin because of the economy, the COVID-19 pandemic, and the halving around the corner, we thought this would be an interesting discussion.
I’ve been involved with Bitcoin since the very early days; mining in 2011, our first bitcoin business in 2012, and finally Bittrex in 2013. Our business now has millions of users and the Bitcoin Halving aka “The Halvening” has been top of mind for everyone recently. As the Halvening approaches, we are working 24/7 to support the increased demand—so ask us anything about the Bitcoin Halving!
By the way, in celebration of the Bitcoin Halvening we are also hosting a reddit giveaway of half of a Bitcoin for someone in the USA, and another half of a Bitcoin for someone outside the USA. Contest details will be shared on Bitcoin shortly.
Joining us today on IAmA:
Richie Lai Co-Founder of Bittrex and lover of Bitcoin
Prior to Bittrex I was at Amazon, Qualys, and Microsoft. I’m a long-time believer in Bitcoin, and avid sports junkie. You might also find me at a stadium in Seattle watching the Seahawks, the Sounders, the new hockey team, or hopefully a basketball team one day.
Find me on reddit @richiela, and on Twitter @richiela.
Proof: https://i.redd.it/xnx2saxh70x41.jpg
Tom Albright CEO Bittrex Global
I’m the chief executive officer and a director of Bittrex Global. We’re an exchange based in Vaduz, Liechtenstein in the heart of crypto valley that utilizes the Bittrex technology platform. Prior to becoming CEO in February 2020, I was general counsel of Bittrex, Inc. I’m at Bittrex Global because I’m passionate about Bitcoin and crypto and how they will change the world.
You can find me on reddit @tomalbrightBG, Twitter @_tom_albright and on LinkedIn.
Proof: https://i.redd.it/sioc5ktl70x41.jpg
Stephen Stonberg CFO & COO Bittrex Global
I am the CFO and COO for Bittrex Global, based in Vaduz, Liechtenstein. I have 20 years in the Traditional Finance and Asset Management industry. Prior to Bittrex Global, I was with Binance doing business development in their global operations. Prior to Binance, I was in the Investment Management Division at Goldman Sachs, a Managing Director at Credit Suisse, J.P. Morgan and Deutsche Bank, and a Partner at Brevan Howard and Winton Capital.
You can find me on reddit @StephenStonberg, Twitter @StephenStonberg, and LinkedIn.
Proof: https://i.redd.it/7cj432nc80x41.jpg
Rahul Sood creator of Microsoft Ventures, co-founder of Unikrn
I am the co-founder of the Esports Entertainment platform Unikrn and a long-time tech entrepreneur.
Unikrn was founded in 2013, and we are backed by Mark Cuban, Ashton Kutcher, Shari Redstone, Liz Murdoch, and many others. I’m here because I love Bitcoin, and my business foundationally uses blockchain technology and we accept multiple cryptocurrencies including Bitcoin. We’re currently experiencing a significant spike in new users due to COVID-19—things are pretty nuts considering traditional sports are on pause and esports are . Besides esports, I’m also a massive Seahawks fan.
You can find me on reddit at @voodooftw, Twitter @rahulsood and on LinkedIn.
Proof: https://i.redd.it/h28qjzri80x41.jpg
submitted by richiela to IAmA [link] [comments]

HUOBI EXCHANGE REVIEW

HUOBI EXCHANGE REVIEW
Huobi is a Singapore-based cryptocurrency exchange. Founded in China, the company now has offices in Hong Kong, Korea, Japan and the United States. In August 2018 it became a publicly listed Hong Kong company.
Recently during early 2019, after crypto communities lost interest in ICOs (Initial Coin Offering) due to many unregistered STOs (Security Token Offering) and other projects whose aim was only to raise the funds. Exchanges adapted and gave a new dimension of the fund raising, IEO (Initial Exchange Offering).
In this regard, exchanges helped the projects by providing them a platform to raise the funds and also helped the retail investors by doing due diligence on the project on behalf of the investors. Best part of this process is, such issued tokens are listed on the same platform and exchanges helped these start ups in the process. This gave a sense of security and helped to maintain integrity with the projects and public investors.
All the top tier exchanges are participating in this movement and named such fund raising as Launchpad, Jumpstart, Spotlight, Startup etc. While Huobi came up with Huobi Prime.
Unlike other exchanges, Huobi Prime has helped varieties of start-ups.
  • It all started with a DAG based blockchain platform, Top Network.
  • A project named after the greatest scientist who made a major impact on the human lives, Newton Project. It is aimed to deliver an infrastructure for the community economy.
  • It is followed by Thunder Core. A blockchain project dreamt of decentralized future and allows anyone to build dApps on their platform.
  • Then Reserve Rights continued the legacy. It’s a protocol for stable currencies with three kinds of tokens RSV, RSR and collateral tokens.
  • Akropolis - a protocol to explore the informal economy and help the people with DeFi. It was one of it’s kind which was competitive enough to seek the help from the Huobi.
  • Later a social digital currency, Emogi secured a place to be the next Prime project.
  • Recently, Whole Network - A consensus, co-creation, and win-win behavioral value network had the opportunity to feature as a 7th Prime project.
However, each of the Prime project is different from the other in the list. One must admit, it is a basket with mixed fruits. From DAG to Currency to dApp platform to stable coin protocol to DeFi protocol to digital currency to blockchain phone. Huobi has covered a rich list of projects in this journey.

https://preview.redd.it/8z08lbq3qls41.png?width=800&format=png&auto=webp&s=34de122d950f32feb46df82cdce290221e1572be

(This chart presents the information based on the price of the each token on 2nd October. However it may vary marginally as price of the cryptocurrencies are volatile in nature)
Trading Options
Many centralized exchanges serve as the sole, centralized market maker. In contrast, Huobi also allows you to trade over the counter (OTC). This means that you can buy and sell cryptocurrencies peer-to-peer on Huobi. Even though this option exists on the exchange, it has yet to gain adoption from traders. Various commenters have said that there is a lack of OTC offers. Still, this is still an innovative technical feature.

If you are a margin trader, Houbi has a separate platform specifically for this. You can access this by going to the margin tab in the header. The amount of leverage you can have varies from coin-to-coin. For example, BTC is around 3x. Compared to other margin trading platforms, this is low. Nonetheless, it is an attractive option for potential users.

In December 2018, Huobi Derivative Market issued BTC contracts and ETH contracts (including weekly, bi-weekly and quarterly, respectively), and flexible leverages, including 1x, 5x, 10x and 20x. In the future, more digital currencies will be issued to meet various investment demands.
Meaning “currency” in Mandarin Chinese, Huobi consistently ranks as one of the world’s top ten largest exchanges by trade volume. In this article, we look at everything you need to know as a potential Huobi user. Let’s examine fees, fund security, customer experience and more.

User Interface and Mobile App

Available on iOS and Android, the Huobi mobile app features most of the functionalities available on the web platform. You can even complete tasks like account registration and verification directly via the app. In Google Play, the Huobi Global app has an average rating of 4.1 stars out of 3,730 reviews. However, in December 2018 and January 2019, some users have said that the Android app won’t let them login due to an error with Captcha. On the Apple App Store, Huobi boasts an average rating of 4.9 stars out of over 4,800 reviews.

Trading Options

Many centralized exchanges serve as the sole, centralized market maker. In contrast, Huobi also allows you to trade over the counter (OTC). This means that you can buy and sell cryptocurrencies peer-to-peer on Huobi. Even though this option exists on the exchange, it has yet to gain adoption from traders. Various commenters have said that there is a lack of OTC offers. Still, this is still an innovative technical feature.

If you are a margin trader, Houbi has a separate platform specifically for this. You can access this by going to the margin tab in the header. The amount of leverage you can have varies from coin-to-coin. For example, BTC is around 3x. Compared to other margin trading platforms, this is low. Nonetheless, it is an attractive option for potential users.

In December 2018, Huobi Derivative Market issued BTC contracts and ETH contracts (including weekly, bi-weekly and quarterly, respectively), and flexible leverages, including 1x, 5x, 10x and 20x. In the future, more digital currencies will be issued to meet various investment demands.

Huobi offers a margin trading option.

Security

Compared to other exchanges, Huobi continues to excel from a security perspective. Many top exchanges suffer from large-scale hacks, with varying results in terms of trading volume afterward. In 2015, a Bitstamp hacker withdrew 12,000 BTC from Huobi. However, this issue did not relate to the security of Huobi. Huobi reported a DDOS attack in 2015 but this did not cause a security breach. According to one review, an individual user lost USDT and EOS on Huobi. This reviewer states that the problem was caused by a technical error with Huobi’s 2FA. One comment suggests that it was the result of a phishing scam.

Huobi claims that its risk controls have been developed by the likes of Goldman Sachs. The exchange stores around 98 percent of funds in cold wallets. Moreover, Huobi now utilizes a decentralized exchange structure to prevent DDOS attacks. The exchange even has a User Protection Fund Initiative. Twenty percent of net revenue that the exchanges gains from trades will go to this fund, which it will use to buy back Huobi Token (HT). It also has a service called Huobi Security Reserve. As part of this, the exchange plans to store 20,000 BTC for insurance. This is a preventative measure that will help Huobi reimburse users in the case of any future hacks.

Huobi Fees

Huobi has a 0.2 percent fee that applies to both market makers and takers for amounts between $0 and $5,000,000 over the course of a 30-day period. In comparison, other top exchanges like Binance have 0.1 percent fees. Meanwhile, GDAX has 0.3 percent fees.

In January 2019, Huobi Global launched a tiered fee structure that significantly reduces fees for higher volume traders. This is relatively competitive when compared to other exchanges. Users also have the option to reduce trading fees on Huobi by becoming a VIP member. This involves paying a monthly payment of HT, which varies depending on the membership level (1-5).

Like most exchanges Huobi has no fees on deposits. However, Huobi does have withdrawal fees and minimums that vary from coin-to-coin. For example, withdrawing Bitcoin (BTC) costs 0.001 BTC, with a minimum withdrawal amount of 0.01 BTC. For Tether (USDT), the flat fee is 5 USDT and minimum withdrawal amount is 20 USDT. Overall, this means that Huobi fees are generally higher than most exchanges for lower withdrawal amounts. A few exceptions exist. For example, TUSD has a withdrawal minimum of $20 but a withdrawal fee of only $2.

Withdrawal Limitations

Similar to many exchanges on the market, Huobi has withdrawal limitations based on various levels of user verification. One thing you will notice is that withdrawal amounts vary greatly depending on your citizenship. For example, if you are a citizen of China, you can’t withdraw any funds as an unverified user or with level 1 verification. This option is only available at level 2 or above. In the United States, the exchange only requires level 1 verification. However, the amounts are relatively low: a daily limit of $2,000 and a monthly limit of $10,000.

Customer Service Experience

Compared to most exchanges, Huobi has above average customer service experience. Customer support is available 24/7, and response times only take two to three hours on average. Many consider this to be a rarity in the space.

There are two main methods that you can use to reach customer support. First, you can utilize the chat app that is available directly on the Huobi trading platform. Second, you can contact the team at [[email protected]](mailto:[email protected]). If you choose this option, Huobi asks that you use the registered email address associated with your Huobi account and include your user ID.

Huobi Website: https://www.huobi.vc/en-us/topic/invited/?invite_code=3afg5
UID: 134371568
Huobi Indian Community: https://t.me/huobiglobalindia
Huobi Global Community: https://t.me/huobiglobalofficial
submitted by asheroliver to u/asheroliver [link] [comments]

Asia’s Leading Exchanges Team Up Amid Chinese Fcoin Closure

Asia’s Leading Exchanges Team Up Amid Chinese Fcoin Closure

Experts predict further increase in the merge-and-acquisition (M&A) deals in 2020
One of the leading crypto exchanges in South Korea – Bithumb, announced that the company enters into a pivotal cooperation with BitMax, a Singapore-based digital asset trading platform. The joint forces will concentrate on the development of new services and products to expand the global presence for both Bithumb and Bitmax.
The signed on February 17, 2020, Memorandum of Understanding (MoU) between the two companies comes amid extensive competition in the crypto exchange sector. The main goal of the MoU is to battle the competition with the launch of jointly developed services and products. Bithumb and BitMax would share knowledge and technical expertise in the fields of blockchain and IT infrastructure.
George Cao, CEO of Bitmax, commented on the news about the partnership, stating that “product innovations have always been in the core of our institutional trading platform.”
“We are excited about the new partnership, as now we can combine our know-how and technical infrastructure with Bithumb’s deep understanding of the crypto business. We will work side-by-side to create products and services, operable across the ecosystem of both companies”, Cao added.
BitMax, despite founded in 2018, gathered a strong team of Wall Street veterans, including people with prior experience for Bloomberg, Goldman Sachs, Deutsche Bank, and Gemini. Even Greg Cao is the former CIO of Delpha Capital Management.
Bithumb relies on the expertise level of the people at BitMax to further improve its products. BitMax, on the other hand, is one of the top-10 global market players, based on liquidity. The cooperation would enhance Bithumb’s security, as the exchange suffered from at least three hacks during its lifetime.
The partnership comes amid Chinese crypto exchange FCoin shutting down operations, leaving $125 million worth of cryptocurrencies away from its clients. According to Zhang Jian, the founder of FCoin, the company may not pay its users around 13,000 Bitcoin. Despite Jian reassuring clients that the shutdown of the operation is not an exit scam, crypto experts are on the opposite opinion.
Zhang announced that the shutdown is a consequence of a series of data errors, and that “the problem is hard to explain with plain words.”
FCoin is a rather new exchange – it started operations in May 2019. FCoin quickly became a news sensation, reporting record-breaking trading volumes with its innovative “transaction mining” business model. However, several crypto enthusiasts reported that the trading volumes are not real. Some users even accused FCoin of using bots, which “manipulate” prices.
Signals for fraudulent behavior started from the get-go since FCoin distributed half of its native tokens without airdrops or an ICO campaign. Changpeng Zhao, Binance’s CEO, even called FCoin a Ponzi scheme, stating that “FCoin’s founder apparently found a better invention than Bitcoin. However, the large number of data-derived problems that we noticed, as well as dividend and mining returns, would not result in any good.”
During the shutdown, FCoin utilized its risk-control account, further increasing the speculation about FCoin committing and exit scam scenario. However, Zhang wrote that he, personally, would reply to everyone, seeking to withdraw funds. Zhang even mentioned a compensation mechanism from his other projects, but as of press time, there is no evidence of the existence of such businesses.
submitted by Crypto_Browser to CryptoBrowser_EN [link] [comments]

The Manipulation of Crypto 2018, Outlined.

This entire downward trajectory and war on crypto started with Bill Gates, February 28th saying "cryptocurrency kills in a fairly directly way" in a reddit AMA. Previously Bill has been very positive on bitcoin. Microsoft has accepted it for years. It wasn't priced in psychologically as it lingered until March 7th. The day in which there was fake news about a Binance hack which never existed.
CHECK THE PRICES
https://imgur.com/a/1EvzfeR March we had Google banning ads MARCH 14TH. Then you had Facebook ban ads one week. YouTube the next, Twitter the next. Taking their time to suppress further and further.
CHECK THE PRICES
https://imgur.com/a/wCCgfph
https://imgur.com/a/wlwGBuF
Then in May we had Warren Buffett, Bill Gates, and Charles Munger interviewed on CNBC. Attacking relentlessly. It was one of the 1st questions in the interview with 3 very important people in finance as they asked them collectively. If you don't think this was planned, please reevaluate. Interviews with people of this magnitude have pre-written questions that are approved ahead of time. The Federal Reserve openly attacking it publicly in May. Authorities looking into "price manipulation". When the only price manipulation was the actual news about price manipulation.
https://www.bloomberg.com/news/articles/2018-05-24/bitcoin-manipulation-is-said-to-be-focus-of-u-s-criminal-probe
May charts - The interview was May 7th.
https://imgur.com/a/WxIHfnX
After that it was probe "cracking down" on crypto. When they have had tools to track crypto for chain analysis for years. There's been a major piece of FUD news at least once a month for the past 7 months. Look at the charts for correlation. If you see a big dip, you will see there was FUD that day.
South Korea ban MARCH 6TH, South Korea unban, South Korea exchange raids MARCH 11TH. China reiterating their ban. India ban JULY 3RD, India unban, India ban. SEC same cycle (has been + lately). CFTC same cycle. Russia same cycle.
South Korea -
https://cointelegraph.com/news/south-korean-government-bans-officials-from-crypto-holding-and-trading
https://www.coindesk.com/south-korea-may-lift-ico-ban/
https://imgur.com/a/PzrROKg
https://www.coindesk.com/indias-supreme-court-continues-ban-on-cryptocurrency-exchanges/
https://cointelegraph.com/news/is-india-about-to-reverse-its-crypto-trade-ban
https://imgur.com/a/WmsTfFg
https://imgur.com/a/oldr1gr
Now recently the FUD play is coming from banks. JP Morgan (has crypto patents DYOR) is bullish and might offer custodian services. The next month Dimon calls it all a scam. Same from Goldman. Same from Mastercard (has crypto patents DYOR). Same from PayPal (has crypto patents DYOR) and American Express (has crypto patents DYOR).
Mastercard CEO - July 26th.
https://cointelegraph.com/news/mastercard-ceo-calls-anonymous-cryptocurrencies-junk-again
https://imgur.com/a/W3VsvHA
https://www.bloomberg.com/news/articles/2018-06-18/regulated-crypto-custody-is-almost-here-it-s-a-game-changer
AUGUST 4TH -
https://cointelegraph.com/news/jpmorgan-ceo-jamie-dimon-returns-to-bitcoin-bashing-calls-cryptocurrency-a-scam
https://imgur.com/a/gbuYloF
Goldman Sachs FUD - confirmed as fake news.
September 5th -
https://www.cnbc.com/2018/09/05/bitcoin-falls-after-goldman-reportedly-drops-crypto-trading-plans.html
https://imgur.com/a/gGtN16h
Corrective report, it didn't matter considering it was already priced in and everyone was panicked
https://cointelegraph.com/news/goldman-sachs-cfo-recent-reports-about-crypto-trading-desk-are-fake-news
In addition, how many times will we be played by FUDdesk or coin-sell-graph with unnamed sources and unconfirmed reports? Or using "A NYSE trader" as a legitimate source.
https://cointelegraph.com/news/nyse-trader-following-bakkt-launch-bitcoin-is-very-iffy/
Or "An IT worker" today.
https://cointelegraph.com/news/it-analyst-jason-bloomberg-what-im-really-saying-is-shut-down-permissionless-blockchains
How many times are we going to be this stupid? Will this ever end? Go ahead and down vote me into nothing you astro turfing, hired bots. See the bigger picture. All tactical analysis stems from news. News has been controlling the price down to get retail to sell as illustrated. As you can see, centralized institutions have seized power in this space, not surprisingly. Convince me otherwise. Thank you for reading.
submitted by HitWithTheWOWeffect to ethtrader [link] [comments]

Will there be another 2017-like crypto pump ever gonna happen again? My rant on the future of crypto, ICOs, and 2018

Background
I've been getting several messages lately inquiring about my old post from which I borrowed $30k to buy ETH back in May: https://np.reddit.com/ethtradecomments/68oshw/just_borrowed_30k_to_buy_eth_stay_tuned_for_the/
I started typing a long response to someone who asked me whether he thinks there's gonna be another opportunity like ETH in the future (from which I made over 100X returns, buying most between $10 and $100, and cashing out 90% at $1000-$1200)...and I realized I typed so much info that it could be worthwhile to share it with the community.
Before I start my rant though... about the loan I had taken out at the time: don't ever invest in more than you're willing to lose.
Opportunities will always come, in one way or another. Today is crypto, yesterday was flipping houses, before that was penny and internet stocks. But from a crypto standpoint, opportunities in this field are gonna be more rare. Bitcoin, ETH, and other large caps coins are probably done for for a while -- they'll go up in the long run but I don't think we'll see another new parabolic rise of 1000+% gains for a long while. People switched to ICOs after seeing some of the 3-10X gains, but the wild west of unregulated ICOs is starting to lose steam, mostly due to regulatory barriers.
Identifying Fundamental Disruptions
I invested in ETH first at $10 and buying all the way up to $100 (the $30k loan got me ETH at $80 each), and while others were selling for 2x flips, I was able to hold it all the way to $1000+. I think this is important to mention in the context of this post because of the necessity to realize the long-term disruption that lays ahead. At the time, I realized that ETH was about to give altcoins/tokens the ability to be speculated on due to their direct utility association in a tech startup's main business mechanism. I firmly believed that ETH should be worth at nearly as much as, if not at least, BTC in market cap because of this. Prior to ETH, it was just Bitcoins and then all clones/shitcoins. ETH gave rise to ICOs and speculative coins that could be assigned potential business value to it, thereby making crypto markets what it is today. Frankly, the entire crypto market owes ETH, and respectfully BTC of course, for what is today. Note though: I rolled the dice big for ETH, but even my $30k investment at the time was only about a quarter of my savings at the time. So again, don't invest in more than you are willing to lose or sleep soundly at night.
The Future: Increasing Regulation
Anyway, turning to the future. Here's what I think is going to happen. SEC is going shutdown alot of ICOs; they are really cracking down on ICOs claiming to be utilities, even if disguised through airdrops or SAFTs. In fact, just today's WSJ news said SEC issued subpoenas to multiple ICOs and have taken interest in SAFTs for so-called utility tokens. Just like the dot-com bubble, 90%+ of these previous ICOs are gonna tank and fail. We're gonna see a massive correction probably later in 2018, when roadmaps with major expected milestones start missing their deadlines, and a domino effect happens when SEC starts really flexing their muscle and forcing exchanges to go into delisting mode (we already are starting to see this with Bittrex).
But a Hidden Opportunity
So about looking for another crypto pump opportunity.... When the culling happens, the survivors are gonna be as follows. Look for US-based ICOs that have been SEC-compliant from the outset, or at least making a strong effort to do so. Having a legal advisor or team member will be big this year. Don't be afraid of lockups or holding periods if it's for the purpose of being SEC compliant (signs are mentions of Reg CF, Reg D, Reg S, and Reg A+ offerings... you could google these keywords with their company name to see if they have a filing record in SEC's database). See if these ICOs and team leaders had a successful and profitable business in the past, or at least spun out of a profitable company. Also, there's way too much bullshit with partnerships, many which are fake or with useless no/name companies. Next, a lot of these open ecosystem platforms rely on partner companies to attract customers -- but why would companies join when there are no customers, and vice versa. It's all bullshit and often pump and dump shilling. What you want is a closed ecosystem (think Apple iOS) to help consumers navigate the business model. An open ecosystem where customers have to attach their own crypto wallet, blah blah blah, yay decentralization, yeah... well that's all never gonna see mass adoption (think Linux... some hardcore advocates exist, but what layperson actually wants to operate command lines or deep menus all day long and accidentally break their system with one wrong syntax). Look how successful Coinbase has become by simplifying crap. Too much shit is focused on the crypto side and it's like a foreign language to mainstream customers who won't touch it with a ten foot pole. Look for ICOs that are consumer focused rather just have solely an ICO page. It's particularly appealing if they have a self-directing strategy in the form of a tangible product they can sell to generate data or transactions in their ecosystem, which would naturally attract additional customers/companies into their platform.
Examples:
These companies with revolutionary ideas, who are making an effort to be legally compliant and also have a tangible product, are the ones that are gonna survive the mass culling of alts and ICOs later this year. If we ever get our first ICO unicorn (from revenue, not pumped market cap of their token), then it will bring truly mainstream recognition of the crypto markets that will give the traditional stock markets a serious run for their money. I'm not talking about less than 1% of the $70 trillion stock market value of the world -- I'm talking like double digit levels of the entire global stock market. And I bet you it will happen. This is the sorting-out phase of the future -- a shift from old world Wall Street-type money to Silicon Valley. Crypto allows direct investments into technology startups, and tokenization of the actual business transaction mechanism cuts down all the traditional valuation crap dealing with public relations and whatever meta valuation factors. If the business is making sales, then the token is worth something, and that's all that matters. If the business is losing sales, then the token is worth less. Straightforward.
When All The Puzzle Pieces Fit Together
Two more things to note. First: If ETH successfully pulls off scaling through sharding/raiden and drastically reduces gas fees through proof of stake, then it will be fit for enterprise use. ETH's stress tested blockchain with upgrades will facilitate real world adoption (Most of these ERC20 platforms are currently not fit for real adoption due to high gas fees and low TPS). Otherwise, consider hedging into alternative smart contract-, high volume-, low cost-capable platforms with implementation documentation (e.g., Stellar) to potentially get some good gains. Second: A lot of these current crypto exchanges are not registered ATS's (alternative trading systems) that are permitted to trade securities by the SEC, so they can only trade utilities. But SEC is cracking down on these fake-utilities and are deeming them all securities... that's gonna leave these exchanges in the dust. So we're seeing big companies entering this space, Overstock building tZero, Circle/Goldman Sachs acquiring Polo, Cobinhood, etc. They are prepping for ATS compliance, and when legal tokenized securities become tradeable, they will be traded on these platforms... not hot messes like Binance. And they will be user friendly -- gateways for mainstream to invest directly in the tokenized assets of a company's core business model. It's all culminating to the survival of legit companies, mainstream adoption, and these are your clues. Enjoy trading shitcoins while they last, but don't get caught with your pants down bagholding them.
Rant over.
TL;DR Look for coins based on fundamentals and legal compliance so they will survive the massive culling in late 2018 when roadmaps don't meet milestone deadlines
Edit: Grammar, and Readability
submitted by slickguy to CryptoCurrency [link] [comments]

10 important facts about the project 📋

10 important facts about the project 📋
Every day more and more people get acknowledged about the project. Nevertheless, many do not have time to keep track of all the information that is published.
Now let us tell in order the most important facts and a short history of Roobee.

https://preview.redd.it/ek093481gx431.jpg?width=1400&format=pjpg&auto=webp&s=a493333c44e3816e18bb1d799254017c991b3f2e

Fact number one. Roobee’s story began in 2017.

The history of Roobee began in 2017, at the same time the domain Roobee.io was registered. (https://prnt.sc/ny3nsw)
As you can see, it has been more than a year and a half since the domain registration to the iEO launch. During this time, a lot of work has been done: Market research, platform modeling, development, packaging, etc.

Fact number two. Roobee team.

Team of the project — is one of the key parameters for rating any startup.
When creating Roobee, the team was also one of the key point for us.
Currently, a team of more than 30 people who previously worked at Goldman Sachs, JPMorgan, Lloyds Banking Group, Barclays, Lazada, Sumitomo Mitsui Banking Corporation, Banca Intesa and other big-name companies are working on the development of the project.
More information about Roobee team in this post: https://medium.com/roobee-invest/international-market-specialists-in-roobee-team-3a66eb611380

Fact number three. Operating Licenses

Operating licenses for the storage and exchange of cryptocurrencies in the EU have been obtained:
◉ Providing services of exchanging a virtual currency against a fiat currency;
◉ Operating as a financial institution;
◉ Service of trust funds and companies;
◉ Providing a virtual currency wallet service.
We are planning to continue in obtaining all the licenses and permissions required by the applicable legislation to effect legitimate activities within the territory of different countries.

Fact number four. A community of 300,000 potential Roobee users.

We have formed an active community of private investors (more than 300,000 people), who can become users of Roobee platform in the nearest future.

Fact number five. Crypto whales believe in the project.

August 2018

During the pre-seed funding round in 2018, an anonymous crypto-millionaire under the nickname “200Mtrader”, who had previously made a fortune of $200 million by trading cryptocurrencies invested in Roobee $4.5 million.
An anonymous trader nicknamed by Bloomberg as “200Mtrader” gave an interview to CCN. He explained why he decided to invest $4.5 million in Roobee 📝
“I only invest in projects that can reach a capitalization of $1bn within the time frame of 5 years. I see this potential in Roobee project, that’s why I invested $4.5 million into this blockchain-based investment platform.”, explains the investor.
Read the interview here: https://www.ccn.com/the-crypto-bear-market-wont-last
Forbes , marketwatch, and Reuters wrote about it.

April 2019.

$1 Million from the top-250 Bitcoin whales.
One of top-250 Bitcoin whale wallets (over 7000 BTC) has closed first stage of $1 mln private round IEO instantly.
The $1 million (200 BTC) transaction was sent by him via transit wallet to the Roobee’s wallet with the message “In Roobee I Trust” 👍
“I see the same potential in Roobee that I saw in Binance at the time. Roobee has a target on an actual problems of millions of people around the world and has great potential for development in the next years. I will hold Roobee token, just as I hold BTC, BNB, EOS and other cryptocurrencies that can grow greatly according to my calculations. “, explains the investor
You can see what Bloomberg wrote about it here: bloomberg
The whale entered a long term position through buying tokens. He hasn’t received his tokens so far. A huge lock up period was set on his tokens as well as gradual defrosting.

Fact number six. The first mentions about Roobee in media.

On December 28, 2018 the article about Roobee was published on the Forbes website: How An International Investment Platform Secured Substantial Investment In A Falling Market

Fact number seven. More than 145 mentions about Roobee in media.

On the whole, there were more than 145 publications about Roobee in media, including the most famous and reputable ones.
There are unique articles, as well as the reprints of previous ones.
Members of our community collected the selection of mentions regarding Roobee in media with confirmations. You can see it here, follow the link 📝
https://medium.com/roobee-invest/media-about-roobee-7026b856fa5d
We propose you to read the materials,☝️that appear regularly in an information field.

Fact number eight. Roobee in social media.

Only in 2019 we started to develop our community regarding Roobee. But the emphasis on the layout design of the platform as well as on the back end development remained.
Now, when we’ve started international expansion and tokensale, we created some accounts on different platforms, in order to have more opportunities to communicate with you in various forms.
Subscribe and follow the news about the project:
Telegram | Chat | Twitter |Facebook | Reddit | Medium | Instagram

Fact number nine. IEO

IEO of Roobee tokens was successfully finished on the Bitforex and EXMO exchanges.

Bitforex.

The first two rounds of Roobee tokens IEO were held on Bitforex.
• The first round was held on May, 13.
• The second round was held on May, 18.

EXMO.

Roobee tokens IEO was successfully finished on EXMO exchange

Fact number ten. Roobee.

Roobee — is an investment platform developed on blockchain, that will open an easy access to the world of investments for each person.
It will be possible to create your investment portfolio in a few minutes with the help of Roobee intellect, questionnaire and analysis of a person by photo. And with one button you can send funds to all selected instruments from the portfolio.
It is possible to invest even from 10$, getting access to already selected instruments all over the world (from crypto to stock and venture markets), including instruments with a large entrance threshold.
Blockchain in roobee will allow you to build the service on the principles of security and transparency of operations. You will be able to see transparent historical statistics for each investment instrument in which you intend to invest.
The entire Roobee team shares the idea of the service and strives to open a simple path to the world of investment for millions of people

We look forward to your support on the way 🙌

submitted by Roobee_io to u/Roobee_io [link] [comments]

Find Out Why Institutions Will Flood the Bitcoin Market

As originally written via CoinLive: (improved reading experience)
Back in 2017, the blockchain industry experienced an unprecedented interest which ended in what is often referred in financial terms as “irrational exuberance”, with a large portion of the rally led by retail-type investors flooding the market to ultimately chase prices at illogically hefty levels based on the infancy stage of the technological advancements and its implementations.
That rise was too fast too quick and eventually, in early January 2018, the bubble-like move came to an abrupt end. The question now is, what will it take for another sustainable bull run to materialize? At CoinLive, we will inspect the key missing pieces of the puzzle. In this article, we will investigate the ever-growing list of evidence that shows why a new type of investors, the institutional ones, looks set to enter the market in mass.
The two critical impediments for the ‘smart money’ to have been on the sidelines are clearly identifiable. Firstly, it has to do with custodianship, in other words, having formal mechanisms that allow the safe storage of the asset. Secondly, the regulation around the crypto market must be clarified with clearer guidance.
When it comes to the first missing piece of custodianship, the NY Times recently helped shed a light on where we are headed. The influential newspaper reported that ICE (Intercontinental Exchange), which is the parent company behind the NY Stock Exchange (NYSE), is working confidentially in the implementation of swap contracts for banks and large investors that will be settled with the physical delivery of Bitcoin.
For ICE to even consider this idea it means that the problem of legal custodianship is being worked out so that the backing and security of Bitcoins by the NYSE will be in place. This will open the floodgates to a whole new market, where the King of cryptos and other digital assets down the road become available to a much wider and more influential customer base. We are certainly at a stage where institutions have recognized that Bitcoin is “too big to ignore”.
What’s also important is that by using a swap contract, the trading of Bitcoins will be oversight under the existing regulatory framework of the Commodity Futures Trading Commission, hence less regulatory uncertainty.
As a reminder, the CFTC is headed by J. Christopher Giancarlo, who is a proclaimed pro-blockchain endorser after his popular appearance in front of a U.S. Senate hearing on blockchain technology last February, where he famously said: “We owe it to this generation to respect their interest in this new technology.”
Moreover, earlier this year, Boston-based State Street, the world’s second-largest custody bank with around £24tn in assets under custody and administration, came out to announce that safeguarding clients' digital assets could be a service they are looking to provide a solution in the near future. If confirmed, it would represent a major move as it sets a precedent as the first global bank to provide custodianship services for crypto-related investments.
While Bitcoin is not serving its initially intended purpose as a widely used method of payments (for now), it has found another appeal as a store of value that is uncorrelated to any other asset class, hence it has an exceptional use as a hedging strategy for multi-billion dollar portfolios to help reduce the overall volatility.
Other stories strengthening the notion of institutional capital set to come into the cryptoverse include the news that Goldman Sachs will be trading futures contracts linked to Bitcoin’s price as an initial step, only to gradually transition into a more direct trading of buying and selling actual Bitcoins.
Find our recent article where we explain why Goldman Sachs trading Bitcoin is such a big deal.
Even the chief executive of Nasdaq, Adena Friedman, recently said considerations were being given to set up a virtual-currency exchange should the needed regulatory framework be resolved.
Additionally, we have seen a growing trend of senior-level executives at institutional firms flocking off the safety of their well-established positions to venture into blockchain-related jobs. We include a few articles with evidence below:
Goldman Sachs Executives are Moving to Cryptocurrency Hedge Funds
Mike Novogratz Makes Goldman VP the COO of His Crypto Company
Coinbase Hires Ex-Barclays Director to Expand Its Institutional Client Base
Commonwealth Bank CFO to Lead Block.one as President and COO
The migration in job positions from traditional financial markets into blockchain comes as no surprise and quite frankly, it appears to be a logical and rational step to be taken, especially in light of the new revenue streams the blockchain sector has to offer.
Proof of that is the fact that Binance, a crypto exchange with around 200 employees and less than 1 year of operations has overcome Deutsche Bank, which has more than 100,000 employees and over 150 years of history, in total profits. What this communicates is that the opportunities to grow an institution’s revenue stream is formidable once they decide to integrate cryptocurrencies into their business models.
Another piece of the puzzle, even if occurring behind closed doors, is the consideration to launch a Bitcoin ETF. Back in April, it was reported that the US Securities and Exchange Commission (SEC) has put back on the table two Bitcoin ETF proposals, according to public documents. The agency is under formal proceedings to approve a rule change that would allow NYSE Arca to list two exchange-traded funds (ETFs) proposed by fund provider ProShares.
The introduction of an ETF would make Bitcoin available to a much wider share of market participants, with the ability to directly buy the asset at the click of a button, essentially simplifying the current complexity that involves having to deal with all the cumbersome steps currently in place.
More evidence of the emergence of institutions playing a more dominant role in the blockchain industry is the unprecedented interest to amass Bitcoins in the OTC (Over the Counter Market). We perceive this trend as directly linked store Bitcoin as a store of value. This article by Bloomberg should give you a taste of what's happening behind the scenes: The Wealthy Are Hoarding $10 Billion of Bitcoin in Bunkers.
As ConLive recently tweeted: "Our network of Insiders telling us between 5000-10.000 BTC are being sold every week OTC by Chinese BTC miners to Israeli buyers - Wall Street type - as they look to accumulate a big hand in BTC. “
![](https://coinlive.io/ckeditor_assets/pictures/868/content_2018-05-15_0957.png)
Lastly, one of the most critical missing piece is the subject of global regulations. Back in March, Mark Carney, the head of Bank of England and the chief of the Financial Stability Board of G20 stated that “crypto-assets do not pose risks to global financial stability at this time.” That caused a temporary relief in the crypto sphere as the risk of a regulatory backlash was removed for the time being until July, the month when more clarity will be provided.
The chair of the Argentina Central Bank, Federico Sturzenegger, on his role of sitting the G20 summit, said that members showed a unifying view on the need of cryptocurrencies to be supported by a more sound regulatory framework. The policy-maker, however, made it clear that they first need to examine the cryptocurrencies universe to gather the necessary data before proposing regulations.
“In July we have to offer very concrete, very specific recommendations on, not ‘what do we regulate?’ but ‘what is the data we need?” Sturzenegger said.
To sum up, the improvements in custodianship solutions, along with more clarity by the G20 committee, which is set to provide less uncertainty for institutional investors’ involvement, is a recipe for a renewed bull wave, this time of institutional capital, to shake up the crypto space.
At CoinLive, we will not venture into the timing, as that is quite irresponsible trying to pretend we have a "crystal ball" to determine when moves will occur. We just simply look at the big picture and try to connect the dots by first breaking down the latest developments to then draw some conclusions. Never forget, markets should always be approached as a numbers' game, and while nothing is certain, we just attempt to envision and inform on scenarios with the highest likelihood.
submitted by Ivo333 to BitcoinMarkets [link] [comments]

GOLDMAN SACHS: BITCOIN IS EXPECTED TO RISE TO $ 13,971 IN THE SHORT TERM

Goldman Sachs Investment Bank sent a letter to its clients stating that in the short term, Bitcoin is expected to rise to $ 13,971.
https://icolink.com/ico-news/goldman-sachs-bitcoin-is-expected-to-rise.html
The letter that was sent to the bank's customers said that in the short term Goldman Sachs expects to see the growth of the first cryptocurrency to $ 13,971. The name of the analyst who prepared this forecast is not indicated.

#icorating #iconews #icolink #cryptonews #Binance #icolisting #ICO #btc #ETH #wallet #Goldman #Sachs #price #13900 #insidejob #finanalyst
submitted by ICOlinkICO to u/ICOlinkICO [link] [comments]

BCH Massively Overvalued? Very Bearish

Spike in price
In general, I would argue that the cryptocurrency market has retraced the vast majority of the speculatively driven bubble of 2017, leaving us very near if not at the bottom of this bear movement. For the past few weeks, the entre market as a whole has been consolidating, forming levels of support.
Recently, Bitcoin Cash is an asset of particular interest, not only because this is an asset we are very bullish in the long term, but even more so because the market has propelled on the false pretences of a chain split.
📷
The diagram above shows the price action for Bitcoin Cash over the past week. At the beginning of the week, from 31st October to 2nd November the asset was reportedly trading sideways between the $410 and $425 region.
If we now turn our attention to the past 4 days to be specific, we see that on 2nd November the asset began rallying. Volumes, shown by the vertical black lines, increased sharply and price followed suit.
The main catalyst for this bull run coincides with the anticipated chain split. There have been several different factors at play which have caused this unjustified bullish movement migrating beyond the $600 region.
Binance Announcement
The main catalyst causing the rally, in my opinion was the announcement made by Binance exchange.
📷
As shown above, Binance released a statement that they will be supporting the hard fork on 2nd November causing massive surges in volume and price. In my opinion this is a strategic move by Binance as if they are the only exchange that announces their support, BCH volumes will bleed from other exchanges into binance, increasing their volumes regardless of a chainsplit. This is the huge misconception in my opinion.
After noticing this, Coinbase seen followed suit.
Coinbase Announcement
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As per the announcement above, Coinbase also released a statement on 4th stating that they will be support the upcoming BCH fork. Analysing the chart showing BCH price action also shows bull pumps on this date too.
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The table above shows the total volume traded using BCH over the past week. As we can see on 2nd November there was a huge increase in volume, increasing over 100% from the previous day. Furthermore, on 4th November BCH volumes further increased nearly 300% from the previous days, showing the impact of Coinbase also supporting the fork.
The next area of analysis should concern other reasons why there could have been a price increase, independent of the announcements made by Binance and Coinbase.
BTC Vs BCH
Some would argue the price of BCH could surge over the anticipation of negative news associated with BTC - As the assets are considered somewhat substitute goods. I don’t think this is the most compelling of arguments as there is mainly bullish news upcoming for BTC.
  1. Baakt exchange
Baakt exchange is scheduled to go live on 12th December. This is massive for the community as it could act as the reassurance traditional institutional investors need in order to safely enter the space, using the trusted Goldman Sachs as their “Cryptocurrency prime brokers”.
  1. ETF
The ETF is a decision in which has drawn the attention of the entire cryptocurrency community. An approval could very much be the catalyst for Bitcoin breaching ATHs and heading toward the $50,000 and $100,000 benchmark commonly spoken of in the space.
📷
The graph above demonstrates Bitcoin’s dominance. As we see the ATLs of January 2018 and a revisit of these level in July 2018, the Bitcoin ETF played a huge part in increasing Bitcoin’s dominance. If we now explore the difference in market conditions from July to present, there hasn’t been any significant development work by Bitcoin developers, nor has there been friendly regulatory framework - quite the opposite actually with RBI and PBOC. Consequently it would be sensible to assume Bitcoins dominance is at circa 50% due to the ETF largely.
  1. Hashing power
📷
The chart above shows Bitcoin’s hashing power alongside that of Bitcoin Cash. Exploring the chart we see the hashing power of BTC increasing on 2nd November and 4th November. We can therefore rule out the idea of a shift in hashing power from BTC blockchain to BCH blockchain as a reason causing the increase in the price of BCH.
  1. Mining profitability
📷
The chart above shows the profitability of mining Bitcoin Cash compared to mining Bitcoin. As we can see, it currently more profitable for miners to mine Bitcoin instead of Bitcoin Cash. Therefore, there would be no monetary incentive of mining which could have led to miners switching to BCH that can in turn positively affect the BCH price.
As a conclusion, it is sensible to associate the BCH spike in price with the announcements made by the two exchanges. This leaves me with certainty anticipating a fall in the price of BCH.
Why the price of BCH is overvalued for the bear market
As proven, the surge in both volume and price of Bitcoin Cash was solely caused by the consecutive announcements shown above. Therefore as soon as the Bitcoin Cash screenshot is taken, we will see large sell offs in the asset, causing price depreciations, just as we have experienced with all other Bitcoin forks. People are purely incentivised to buy an asset before it hard forks just to attain the free money that comes with it.
The next reason why I believe there is large appetite for a impactful sell off, possibly even greater than the pump we have seen over the past week is because of the nature of this split. There is NO replay protection implemented as of yet. Now, with there being no replay protection exchanges aren’t willing to list the forked asset as replay attacks pose a huge risk. If we now reminisce on Binance and Coinbase expressing their support for the fork, we can ask ourselves why would they support if there’s no replay protection? The simple answer and most feasible answer is There wont be a chain split which can be subject to replay attacks.
Now let's explore the case of replay protection being added and there is a chain split, creating another token. Should this happen, given the current market sentiment, people will undoubtedly sell off. The first reason why they would sell of is because it will provide them with profitability, meaning they reconfigure their portfolios, purchasing assets currently undervalued, and the second reason being they will now anticipate a sell off from those who simply purchased BCH just for the fork.
Lastly, following our meeting with CSW and SS, we know that nChain and CoinGeek are collectively supportive of low BCH prices, as according to SS it will bankrupt Jihan far sooner than nChain. As the fork commences, It wouldnt surprise me if we see further selling pressure.
Technical Analysis
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Exploring the Bitcoin Cash weekly chart above, we see a very significant resistance level at $660. This tells us that it is very hard for price to penetrate this level to the upside.
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Breaking this down into the daily chart, we see this level a little clearer. The daily chart produced a wick which failed to pierce the resistance zone, clearly testing the level and failing to brakethrough.
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Lastly, the 4hr chart above shows a bearish engulfing candle. This is a strong indication of bearish momentum signifying further movement to the downside.
submitted by StephenIerotheou to Bitcoincash [link] [comments]

Current State & The Future Of Digital Assets From Ariel Ling, BitMax COO.

Current State & The Future Of Digital Assets From Ariel Ling, BitMax COO.
Ariel Ling, co-founder and COO of BitMax, has shared her thoughts on the current state of digital assets and what to expect in the next years, what retail investor should take into account when buying any cryptocurrencie and the key factors that drive the value of the token/coin.
Ariel Ling, BitMax COO
Why, when and how have you started your crypto journey?
I started my crypto journey at the beginning of 2018 when my long-time friend, the co-founder and CEO of BitMax.io, Dr. George Cao “pulled” me out of the traditional Wall Street and asked me to join him in launching this exciting venture. Three main drivers are 1) to learn more about blockchain technology and its transformational applications in different industries; 2) to leverage in-depth traditional finance expertise to improve overall crypto trading and exchange market structure for better efficiency and transparency; 3) to have a chance to work with a talented and driven team who share similar vision, passion and conviction to build a top global digital asset trading platform as well as a wonderful organization from good to great!
If your friend will ask you: should I consider cryptocurrencies as investment opportunity? What will be your answer? Will you recommend any specific digital asset?
Coming from traditional finance perspective, I would explain my thoughts process from three angles — 1) types of crypto or digital assets as the foundation for understanding; 2) whether they, are more for short-term trading or mid-term investment 2) what are elements for investment valuation and decision-making so our friends can assess and make decision for themselves.
First, in general there are three types of digital assets:
  • Major currency / coin-type like Bitcoin, ETH, XRP, Litecoin, etc. and stable coins;
  • Security-type tokens representing some equity or debt rights of underlying projects;
  • Utility tokens for usage on specific blockchain platform or network.
Each type represents different type of opportunity and risk.
Second: is digital asset good for trading or investment? due to the nascent nature and very short history of market development with most of retail investors’ participation and lack of proper regulatory framework globally, there are quite some market manipulation, speculation and fraud activities in the current market, causing significant volatility and investors loss across all types within very short period of time. This made it very hard for any investors to assess the real valuation and momentum drivers behind those large swings. So at this point, I would think with its high volatility and risk, digital asset in general is more of very short-term trading product than investment vehicle. From liquidity perspective, major currency/coin-type will have more market depth across exchanges, hence more suitable for short-term trading-focused strategies.
Third, from traditional investment perspective, it is critical to assess digital asset investing from valuation and fundamental perspectives, such as business model, future growth, economic return vs. person’s risk tolerance and investment objectives. For major coins, especially Bitcoin itself with its longest history among all the digital assets, have started to provide certain payment function similar to fiat currencies in certain countries. Hence, there are more interesting dynamics to the Bitcoin investing based on one’s view of Bitcoin usage over mid-term horizon and the relative valuation vs its production (mining cost) especially with the price down to 3,500–3,650 USD. For security-type or utility tokens, the performance over short-to-medium term really comes down to combination of intrinsic value of underlying blockchain projects and token economics. Similar to Internet in 1990s, blockchain technology projects are still at the early stage of development and looking for meaningful and applicable use cases to bring real economic benefit from the economics and business model perspective, so it becomes very difficult to apply traditional finance valuation and assess the real intrinsic value of those projects. Recent market crash has brought many of those tokens down to near zero value. So the investment in those tokens are extremely high risk and everyone should be really careful and prudent in the evaluation of any specific projects for the decision-making and risk protection.
What is the story behind BitMax? Who are the foundefounders? When it was founded?
Q1 2018, Dr. George Cao and I founded Global Digital Mercantile (GDM), global operator of digital asset platforms, including BitMax.io based on Singapore for overseas markets and North America’s trading platform aiming for the first half of 2019. BitMax.io started public beta testing mid July, 2018, and was officially launched later mid August. On November 18th , we launched our mining mechanism, the industry very first transaction-mining & reverse-mining mechanism, which has made us the industry leading third-generation cryptocurrency exchange — after first generation of traditional exchanges like Binance, Gemini, Coinbase, etc. and 2nd generation of transaction-mining ones like FCoin, Bitthumb, etc.
Just a quick introduction of my partner. Dr. Cao studied Computer Science in the University of Science and Technology of China, and earned his PhD degree from the University of Chicago. Dr. Cao was the Founder and the Chief Investment Officer of Delpha Capital Management, LLC., New York, specializing in trading equity, ETFs and commodity future products in all major exchanges across the globe. He is also the founder and managing partner of Whitestone Investment Group, a New York based venture fund that invests in a large variety of startup companies that are in the high tech, fintech, big data and medical area. Before founding Delpha Capital, Mr. Cao worked at the Equity Division of Barclays Capital in both the New York and London offices. During that period, he oversaw equity electronic trading in the U.S., European and Asian markets. Prior to Barclays, he researched and traded U.S. equity as a Portfolio Manager at Knight Capital Group.
For me, I have built more than 18-year extensive experience in strategic planning, business development, financial risk management and regulatory implementation across major trading asset classes (Equity, FX, and Fixed Income) at several top global banks. Previous to jumping into digital asset trading, I ran USD liquidity and investment product for top financial institutions and corporate clients at tier-one global investment bank. Before that, I ran US Broker Dealer as COO and head of Business Development for Germany 2nd largest bank. Earlier from 2007 to 2012, I was global equity trading COO across Lehman Brothers and Barclays Capital, building out trading franchise and market making businesses globally. I have four degrees — graduated top of class from Nankai University with two Bachelor degrees in Finance and English Literature and got my MBA from NYU and Master of Mass Communication from University of Georgia.
Where is Bitmax located? Are you a distributed team or do you have an office to work together? How many people work for Bitmax?
Our global team of 50 members are based off two main location — New York with 20 members, including all the founding members, and Beijing with 30 members.
Would you be so kind to introduce briefly the core team members?
Both George and I are very proud of our 10-member founding team. Similar to us, they are all from Wall Street top firms like Morgan Stanley, Deutsche Bank, Goldman Sachs, Bloomberg, and top high-frequency hedge funds with deep experience in the fields of financial engineering research and development of large-scale quant trading infrastructure. Our educational background span across multiple prestigious institutions including Columbia University, University of Chicago, Carnegie Mellon University, and New York University in the United States, as well as Peking University and Tsinghua University in China. So one special thing about BitMax.io is that very few exchanges in the crypto trading space are built by solid team like ours with strong traditional finance mindset and trading background.
You’ve started BitMax during market downtrend in pretty competitive environment. What is your value proposition? Why traders should switch to BitMax?
I think BitMax.io is actually very special in this market, and our team is very proud of what we have built in the short period of six months. There are at least three reasons I think traders should chooseBitMax.io:
  • It’s our real-word professional trading experience and expertise;
  • It’s is our platform, resilient, high volume quantitative-trading platform;
  • It’s is our top-quality customer-centric strategy.
First of all, as I mentioned in the last question, architected by a group of Wall Street veterans, BitMax.io builds upon the core value of blockchain, transparency and reliability, and delivers high-quality client services and trading experience through its innovative trading platform.
Second, our quant-driven tech platform. Our development members were all from high frequency and quantitative systematic trading shops. They definitely make sure the platform was resilient and it can actually handle billions of volume during the design and build. The platform resilience and scalability were fully being tested when we launched the transaction mining and reverse-mining. The first day, we actually had, within the first 24 hours, the trading volume of 1.6 billion in notional; and our system didn’t flinch, didn’t slow down, and didn’t shut down. This is very rare in any of today’s exchanges where you can frequently see the slowdown, the crash, and very slow user responses, especially with transaction mining exchanges.
Third, what we are extremely proud of and all the users can see, is our 24/7 customer services built upon the core Wall Street client-centric concept. Besides our customer support team who never sleep, George actually stands behind the platform almost 24/7 answering questions from the customers, seeking solutions for their issues, and providing the most responsive customer service for the entire crypto trading space.
BitMax CEO, George Cao, is often seen in official Telegram group answering different questions.
We constantly remind our team: customer first. When we design a product, when we launch a system, and when we look at user needs, we all look from customers’ perspective, from how we can protect the users. When we look at primary listing, we only select the high-quality projects because we want our users to have the best investment and trading experience on BitMax.io.
Are you satisfied with the current results of BitMax? Is transaction mining model giving expected volume? What is the % of traders using this model?
We are very pleased with current business development and delivery results from client acquisition and trading perspectives.
On the business development side, we completed the global setup for both 50-member team organization and comprehensive legal entity structure from Asia to North Americas in 2018, which laid down foundation and paved way for 2019 business expansion especially with US.
Since our platform launch in mid Aug, we successfully started Industry FIRST transaction mining and reverse-mining exchange and built out the most active global communities and users within four months in the bear market, with registered users more than 95k; average daily active traders more than quadrupled since the start of transaction mining; average daily trading volume of $465mm through the month of January and February in 2019. Those are extremely promising under this tough market condition.
From the composition of trading volumes, there are two parts — transaction mining which grows exponentially; second is organic, the regular trading which has experienced healthy increase as well because of all the listing activities and all the incentives we have. The regular trading takes about 5% of total trading volume, which is very good for an exchange which was launched in August and running right into the bear market.
What are the key factors that drive the value of the token/coin?
From traditional finance /investment view token economics is really a balance act between business / economic model and exchange market force, driven by three factors: intrinsic value and sustainability, supply and demand, and liquidity and depth.
First, from a traditional finance perspective, we need to look at the intrinsic value, the economic valuation behind a project. How does this project make money? Do they really have fundamentals? Do they really have a viable business model? Do they really have a solid user base for future growth? For example, our exchange business model is very simple. We are exchange; People trade on our platform. The more they trade, the more transaction fee the exchange collect — the revenue source. The exchange will last when people keep trading on the platform and the transaction revenue generated covers the operating cost of running an exchange.
Second, it is the supply and demand of token on the market — who will buy and for what purpose; who will sell and under what scenarios. For major currency coins like Bitcoin, people might buy and sell for potential investment or use in actual payment processing. For other types of token, it is more driven by short-term trading pattern and profit taking. So it is extremely important to set up certain token mechanism to support the equilibrium of supply and demand like how Central Banks manage the supply of currency in circulation through monetary policies.
Third, when the market force comes in, it comes down to the liquidity and depth. Exchange is about liquidity and market depth. That means there has to be enough of trading volumes at each pricing level for each token. For BitMax.io, we have very sophisticated market making model that is similar to Designated Market Maker model of New York Stock Exchange. We focus on providing liquidity and maintaining a fair and orderly market for those token listings who agree to engage our market making services.
Every exchange is looking for good projects in order to become a premiere market for this new asset. Can you name some projects that impressed you recently (even if you are not discussing possible listing with them)?
BitMax.io has strict listing requirements in order to identify high-quality projects for our users. Very proud that we have listed five industry star projects in the last several weeks, with more in the pipeline. All of them have the following attributes that made them successful — viable and profitable business model, growing user bases, strong community support, and comprehensive funding sources.
One of the shining examples is European project named LTO Network listed mid Jan. Its price has been steadily rising since then, as more and more people get to know their business model and more project support comes into the market place to buy the tokens — It uses blockchain technology to streamline a lot of legal processing for one of EU governments, which is very easy to understand its economic value from a revenue perspective. This is simply what people need to see eventually, clean and clear from business economic model perspective.
Let’s imagine a crypto market in 5 or 10 years. Can you make any prediction what the market will look like? What customers will expect from exchange in 5–10 years?
Based off my long-time experience in traditional trading, especially how equity market evolved last twenty years, I would imagine maturing market structure and entrance of institutional investors are key mandatory and healthy development of digital asset market.
First, As the market develops and expands globally, traditional institution participation is a must, in order to upgrade and strengthen the overall market structure and maturity, making it more transparent and resilient, and most importantly enabling the real broad-base adoption of digital assets. Most institutional investors, such as mutual fund, pension fund and other financial institutions, hold the majority of world investment assets, not individual retail investors. Only when those big guys join the market, will there be real revolutionary improvement and expansion of the digital asset just like any other financial markets.
Second, I would expect the market to become more structured with major building blocks for transparent trade life cycle processing and separate risk analytics supporting services. Current crypto trading market is very fragmented with exchanges taking on different roles of trading, wallet management, custodian, etc. Also the lack of clear and consistence regulation on market structure has led to many aspects of market inefficiency — inconsistent liquidity and depth, wide spread, high transaction cost, high volatility, speculation, etc. This definitely hampers the broader adoption of digital assets from institutional investors.
Forward looking, multi-tier structure under some level of regulatory framework with clear guidance is required for future maturing market. Similar to security market, there should be at least three layers of different and independent roles: the role of broker dealer to handle the client relationship with good KYC/ AML processes, retail clients, other financial institutions, blockchain players and to take client order as agent or dealer; the role of exchange to focus on listing and trading — liquidity provision and order matching; the role of clearing house to provide clearing and settlement and custodian on custody of assets with proper control and independence. It is very clean and clear with good check and balance in place.
What are the key challenges for 2019?
During our 2018 business planning, we clearly view 2019 to continue being full of challenges with market uncertainty from both asset price and valuation as well as regulatory development globally. In prep for that and further growth of our platform, we have laid out the following four main strategic objectives and they are all well underway:
  • To launch North America trading platform for high networth and institutional clients. With North America being heavily regulated market, there are two aspects of our plan — First is to leverage a trust structure to facilitate the major coin trading with fiat, and the second is broker-dealer license application with potential for securitized tokens pending regulatory guidance in place.
  • To enhance BitMax.io platform and reach global top-tier exchange. We will continue listening to our users and working hard to enhance user interface and experience by upgrading website vs. other competitors for better client retention.We will continue leading product innovation among the competitors with margin trading (successfully launched in mid Feb) and then derivative to attract new clients.
  • Relent focus on implementation and expansion of current business lines — listing, Market Making, marketing advisory services to grow current revenue base; and further seek new revenue opportunity through North America platform while maintaining cost discipline.
  • we are always on the lookout in terms of exchange alignments, acquisition target, and any business partnership from different aspects of the value chain.
When do you expect a market recovery or next bull run? What are the factors that will influence the start of the market recovery?
With current market crash or correction, there are two possibilities from trading perspective — recovery depending on whether this is a V down or U curve. The U curve occurs when the market collapses, it takes a longer time for market to find the bottom and struggle to rise up. The V down is like a quick collapse — dropping down very fast and reaching the bottom, and then, with some catalyst event, either catalyst from market structure, or catalyst from the market expansion itself, suddenly it gives a boost and bounces right back up.
For market recovery, besides all the investment and economics elements I’ve discussed above, I believe one critical factor is the regulatory development especially clear guidance from key regulatory bodies of those major financial markets such as US, UK, EU, etc. on those key building blocks I mentioned in the maturing market structure. Once those in place, more traditional institutional investors will be ready to get in and hence boost the liquidity and valuation of the digital assets. That is the new beginning of digital assets being accepted as part of Main Street investment globally.

submitted by BitMax_Support to BitMax [link] [comments]

In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018

Developments in Financial Services

Regulatory Environment

General News


submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Daily analysis of cryptocurrencies 20191002(Market index 39 — Fear state)

Daily analysis of cryptocurrencies 20191002(Market index 39 — Fear state)

https://preview.redd.it/tj7i5cek95q31.png?width=1440&format=png&auto=webp&s=1b0873b8203bebb9fda398400b020e38d05ef7ed

David Marcus: WSJ’s Report Is Untrue, First Wave Of Libra Association To Be Formalized As reported earlier, Visa (V.N), Mastercard Inc (MA.N) and other key financial partners may reconsider their involvement in Facebook Inc’s cryptocurrency, Libra. David Marcus, the Facebook blockchain lead who co-created Libra, took to Twitter to deliver his opinions as follows: He stated, the first wave of Libra Association members will be formalized in the weeks to come. Change of this magnitude is hard and requires courage. It will be a long journey, according to him. “For Libra to succeed, it needs committed members, and while I have no knowledge of specific organizations plans to not step up, commitment to the mission is more important than anything else,” he said. He continued, the part of WSJ’s article suggesting they weren’t on top of, or didn’t share detailed information about how to secure Libra and protect the network against illegal activity is categorically untrue. “The tone of some of this reporting suggests angst, etc… I can tell you that we’re very calmly, and confidently working through the legitimate concerns that Libra has raised by bringing conversations about the value of digital currencies to the forefront,”
Russian Ministry Of Finance Proposes 3 Legal Categories For Cryptocurrencies Russia’s Ministry of Finance is considering the possibility of regulating cryptocurrencies into three distinct legal categories. The move would allow the country to regulate the industry much easier. According to Deputy Finance Minister Alexei Moiseev, the proposed categories are: technical tokens, virtual assets, and digital financial assets.
India’s Airpay Partners With InstaReM To Develop International Payments Solutions While India’s entry into the crypto-landscape seems sluggish at best, Mumbai-based Airpay Payment Services has set out to create a merchant-centered international payments solution in collaboration with InstaReM. As per the official announcement, Mumbai-based Airpay Payment Services, India’s only omni-channel payments platform, has announced a partnership with InstaReM, one of the world’s fastest-growing digital cross-border payments companies, to launch “FX Payment,” an international payments solution for its merchants.”
Former Blackrock And Goldman Sachs Senior Executive Joins Blockchain As General Counsel Cryptocurrency wallet provider Blockchain.com has brought on a Blackrock and Goldman Sachs veteran, called Howard Surloff, as its general counsel to lead the company’s legal and compliance teams. According to Surloff’s LinkedIn, the Wall Street veteran has worked at Blackrock for 12 years, first serving as the deputy general counsel and then leading the investment management firm’s iShares and Index division as global chief operating officer.

Encrypted project calendar(October 02, 2019)

BNB/Binance Coin: The 2019 DELTA Summit will be held in Malta from October 2nd to 4th. The DELTA Summit is Malta’s official blockchain and digital innovation campaign. BTC/Bitcoin: The B.Tokyo 2019 conference will be held in Tokyo from October 2nd to 3rd. CAPP/Cappasity: The Cappasity (CAPP) London Science and Technology Festival will be held from October 2nd to 3rd, when the Cappasity project will be attended by the Science and Technology Festival.

Encrypted project calendar(October 03, 2019)

ETC/Ethereum Classic: The 2019 Ether Classic (ETC) Summit will be held in Vancouver on October 3–4 ANT/Aragon: Aragon (ANT) is the AGP for the new mandatory community review period, with a deadline of October 3.

Encrypted project calendar(October 04, 2019)

KNC/Kyber Network: Kyber Network (KNC) will update the maxGasPrice parameter in the Kyber Network contract from 100 gwei to 50 gwei within 2 weeks after October 4.

Encrypted project calendar(October 05, 2019)

Ontology (ONT): Ony Ji will attend the blockchain event in Japan on October 5th and explain the practical application based on the ontology network. BNB/Binance Coin: The Binance Coin (BNB) Oasis Game Hackathon will be held on October 5th in Bangalore, India, and will be hosted by Binance Labs, Matic Network, Cocos-BCX, Celer Network, Marlin Protocol.

Encrypted project calendar(October 06, 2019)

SPND/ Spendcoin: Spendcoin (SPND) will be online on October 6th

Encrypted project calendar(October 07, 2019)

GNO/Gnosis: Gnosis (GNO) will discuss the topic “Decentralized Trading Agreement Based on Ethereum” will be held in Osaka, Japan on October 7th. Kyber and Uniswap, Gnosis and Loopring will attend and give speeches.

Encrypted project calendar(October 08, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Encrypted project calendar(October 09, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.

Encrypted project calendar(October 10, 2019)

INB/Insight Chain: The Insight Chain (INB) INB public blockchain main network will be launched on October 10. VET/Vechain: VeChain (VET) will attend the BLOCKWALKS Blockchain Europe Conference on October 10. CAPP/Cappasity: Cappasity (CAPP) Cappasity will be present at the Osaka Global Innovation Forum in Osaka (October 10–11).

Encrypted project calendar(October 11, 2019)

OKB/OKB: OKB (OKB) OKEx series of talks will be held in Istanbul on October 11th to discuss “the rise of the Turkish blockchain.”

Encrypted project calendar(October 12, 2019)

BTC/Bitcoin: The 2019 Global Mining Leaders Summit will be held in Chengdu, China from October 12th to 14th.

Encrypted project calendar(October 14, 2019)

BCH/Bitcoin Cash: The ChainPoint 19 conference will be held in Armenia from October 14th to 15th.

Encrypted project calendar(October 15, 2019)

RUFF/RUFF Token: Ruff will end the three-month early bird program on October 15th KAT/Kambria: Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15. BTC/Bitcoin: The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th.

Encrypted project calendar(October 16, 2019)

BTC/Bitcoin: The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th. MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16. ETH/Ethereum: Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades. QTUM/Qtum: Qtum (QTUM) Qtum main network hard fork is scheduled for October 16.

Encrypted project calendar(October 18, 2019)

BTC/Bitcoin: The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decision HB/HeartBout: HeartBout (HB) will officially release the Android version of the HeartBout app on October 18.

Encrypted project calendar(October 19, 2019)

PI/PCHAIN Network: The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19. LINK/ChainLink: Diffusion 2019 will be held in Berlin, Germany from October 19th to 20th

Encrypted project calendar(October 21, 2019)

KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money.

Yesterday, there was a nice upside correction in bitcoin above the $8,200 resistance against the US Dollar. The BTC/USD even settled above $8,200 and the 100 hourly simple moving average. Moreover, the price surpassed the $8,400 resistance level. However, the bulls struggled near the key $8,500 resistance area. As a result, the price topped near the $8,540 level and recently started a downward move.
It broke the $8,400 support area, plus the 23.6% Fib retracement level of the last leg from the $7,653 low to $8,539 high. Moreover, there was a break below an ascending channel with support near $8,275 on the hourly chart of the BTC/USD pair. The pair tested the $8,200 support area and the 100 hourly simple moving average. If there are more downsides, the price could test the $8,100 support area.
Besides, the 50% Fib retracement level of the last leg from the $7,653 low to $8,539 high is also near the $8,100 level. Any further losses may perhaps drag the price towards the $8,000 handle. The 61.8% Fib retracement level of the last leg from the $7,653 low to $8,539 high is also near $7,992. If the price settles below $8,000, there could be additional losses towards the $7,500 support.
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Why I'm going all in on Qash during this correction

Welcome to a red day ladies and gents. If you are new, don't panic and just remember Bitcoin always bounces back.
I've seen a few posts here about Qash already but here is why I'm going all in during this fire sale. I've never gone all in and I don't advise you do it but I feel like this is worth making an exception for. This post is for educational purpose.
Qash is a new cryptocurrency designed to solve the liquidity problem in crypto. It may seem like they are appearing out of nowhere, but they've been working hard under the radar since 2014. They are already partnered with 4/5 of the top exchanges (Bittrex being the only exchange not included and it was Qash's decision not to work with them). Basically they will combine the order books of the top exchanges so it is made into one world book. Liquidity (especially in altcoins) is one of the biggest problems in crypto right now especially with institutional money coming in. Qash is going to be the medium for large amounts of money to enter crypto. They are also backed by the Japanese Government!
Team
The team and list of investors blows away any project in cryptocurrency right now. Just listening to the CEO Mike Kayamori speak about Qash makes me very excited to see where this project will go. Check out the AMA he did on Youtube and his vision for Qash if you are interested. Here is his Linkedin where you can see he was Senior VP at SoftBank and CIO of GungHo Asia.
He speaks of how he wants to make Qash a "global cryptocurrency" that people actually spend and not just hoard. He also sees Qash as a top 3 cryptocurrency. It is currently trading at $1.20 and has a market cap of ~$420m with 350m circulating supply. This is a lot for just finishing the ICO but I do not see Top 10-15 as unreasonable for this coin, giving it a 3-10x potential upside. If they are as successful as it sounds like they will be I think Top 3 as the CEO says is easily reachable.
Other notable team members are the CTO Mario Gomez Lozada who was CTO of Merill Lynch in Japan, CFO Katsuya Konno who also spent 8 years at SoftBank Group, and CSO Ray Hennessey who spent 5 years at Deutsche Bank, 10 years at Goldman Sachs, 5 years at Merill Lynch, and Morgan Stanley. Note there are several other members who also have years of experience at the worlds top banks but I think you get the point that this team is truly exceptional. They all have VC background and have every connection imaginable to make this project a success.
Investors
Taizo Son: Founder of GungHo and brother of the richest man in Japan.
Jihan Wu: Founder of Bitmain, one of the largest if not the largest cryptocurrency mining manufacturers in the world.
Exchanges
Right now they are only on Gate.io, Qryptos, and Quoine (Gate being the easiest way for US buyers). It is confirmed that they will be listed on Bitfinex and CEX tomorrow November 30th. Qash will also be listed on Binance on Dec 1st. Historically these exchanges tend to boost the price of a coin quite nicely so that is the reason I'm stocked up now. The holders of this coin are serious investors, they will not be selling just because bitcoin is down 10% and I would anticipate a huge influx of new buyers once it hits these new exchanges and people learn about the project.
Please note none of this should be considered financial advice but I hope this is educational because it is still very early. I watched OMG blow up from $1.20 as it was relatively unknown to everyone but once it started getting some traction it blew up and I think Qash is in the exact same spot. See you guys in a few days lol
submitted by mar7y to CryptoCurrency [link] [comments]

Crypto Rollercoaster: Explaining the Recent Market Performance

https://www.ccn.com/crypto-rollercoaster-explaining-the-recent-market-performance/
Just when it appeared that the cryptocurrency market was about to bottom out just a fortnight ago (with Bitcoin reaching a reported 14-month volatility low), the market subsequently started displaying indicators of a directional shift.
Last week however, we saw a short-term appreciation in value. In typical crypto fashion it was just as rapid if not more so than the recent decline and Bitcoin, in particular, was observed to have exceeded “a key resistance level at $7,000 after breaking out of the $6,800 mark… crucial for the short-term recovery of Bitcoin.”.
Right now however, we are looking at what some mainstream media organisations have described as an ominous price-crash: if not full-blown ‘meltdown’.

Causation Between News and Value?

The reasons for the crash – like many before – are likely plenty, such as the theory of market manipulation by wealthy crypto-barons, amongst other interested parties.
Just looking at the news recently, we can identify a handful of reported events and moments which might have contributed, coincided with or preceded this rapid deppreciation in value. They include:

Looking at the Market

The large fall in value could be considered either a correction or a short relief. Either way, it is fair to say that if the market were to return to a more positive trajectory: we could expect the collective growth to be reflective year-over-year, exponentially.
Coinschedule (an “ICO listing and cryptocurrency portal”) recorded $3.695 billion total funds raised in 217 from 209 ICOs. By compairson, the same site records 500% times more investment this year (up until August 2nd, 2018) – with $17.489 billion gathered from 686 ICOs so far.
It is still important to bear in mind the sobering fact that a great number of ICOs and cryptocurrencies fail.

Additional Studies and Observations

Cezary Graf (AKA Crypto Poland) is a Polish blockchain enthusiast who recently shared a tweet which featured an image which depicted where ‘Bitcoin & The Crypto’ as a collective industry would place in Statista’s list of ‘The 100 largest companies in the world by market value in 2018 (in billions of U.S. dollars)‘.

Graf’s post only provided information from the first page and 10 entries of Statista’s list. This suggests that the total industry value is comparable with the likes of Apple, Alphabet, and Amazon (The Big A’s) – whose combined value is over $2471.1 billion.

Veering beyond these pages however and considering cryptocurrency’s overall market value has surpassed $262,5 billion. Comparatively it would fit it closer to 17th place – best resembling the following trio of financial industry giants.
Statista isn’t the only organization to perform and curate in-depth analysis of blockchain and the cryptocurrency investment market.
Back in 2017, PricewaterhouseCoopers (AKA PwC) performed an investigation into the same criteria – entitled ‘Global Top 100 Companies by Market Capitalisation, 31 March 2017 Update’ with similar results.

The Market Future & ICOs as a ‘Bubble’

Some of the great issues, conversely, plaguing the crypto market include fraudulent and scam ICOs: as well as honest projects which simply offer little to no value to justify their price or existence.
This is in addition to (and arguably supported by) an almost universal lack of effective regulations or standards to prevent such tokens, and has led to some going as far as to call ICOs an ‘investment bubble’.
If true, the space will prove unsustainable if it continues on its current trajectory: a claim which has been thrown around by those in the industry since at least the end of 2017. If, however, things continue as they are right now then we are likely to enjoy a profitable end of 2018.

Court of the Crypto Kings

No matter the market status: the value of many a cryptocurrency lies in their viability and practical effectiveness of their end-goals, and means of achieving them.
Bitcoin of course is the original cryptocurrency and has established its value through its integrity (public whitepaper and open-source nature), as well as it’s practical effectiveness and the rate of adoption it has enjoyed upon implementation.
Ethereum is arguably one of the most successful challengers to the BTC throne so far. The project helped to instigate the now-prevalent ‘Blockchain As A Service’ (BaaS) sector, and offers a platform upon which new utility tokens can be constructed – powered by ‘Ether’.
Lightning Bitcoin is an example of the new market contenders. One of many which offer a direct and highly competitive alternative to many of the key features associated with Bitcoin. According to their website: ‘LBTC’s utilitarian value as a tradeable currency is boosted by its speed and low-cost transaction fees.

Looking at New Securities

Security Tokens’ comprise a much newer field, which has been quoted to have contributed to the major crypto-crash back in January 2018. The first of these digital securities contracts were sold in December of the previous year and expired the following month – and thus, correlated with the market drop.
There has been a lot of news regarding security tokens over the past year, including attempts to either regulate or otherwise ensure a level of safety with regards to risk and fraud prevention, as well as protection of funds. These efforts come from a combination of governments and independent projects and organizations.
MOBU is one of these projects and seeks to utilize a proprietary utility token (the eponymous ERC20 ‘MOBU’) to power its “end-to-end solution for ICOs to launch compliant security tokens on the blockchain.”. Features of MOBU cited include KYC / AML compliance integration, enforced and maintained through Ethereum based smart-contracts.
This is in addition to what they call the “MOB20 protocol will define a set of commands that a compliant security token should implement.”

submitted by stutterisland13 to LightningBTC [link] [comments]

Cryptocurrency Investors

Hello! My name is Mihail Kudryashev, I am a frontend engineer at Platinum. We are a an international STO/IEO/ICO/POST ICO consulting, promotion and fundraising company with huge experience in STO and ICO marketing and best STO blockchain platform in the world! Learn more about it: Platinum.fund Our company gained popularity after launching the world’s number one online university with only practical knowledge on crypto economics. Now you can learn how to create and develop your own ICO and STO, how to market your campaign and make it super successful. Who are cryptocurrency investors? What drives people to invest in cryptocurrency? Read the extract of the UBAI lesson to get all the answers.
Introduction to the Investors §2
In 2017, the total cryptocurrency market capitalization was approaching $850B which begs the question:
Why are investors turning to cryptocurrencies?
A survey by Blockchain Capital indicated that at least 30% of millennials would rather invest in bitcoin than invest in traditional stocks. Cryptocurrency investors, like traditional investors, expect a return at least proportionate to the risk they take. Due to the fundamental lack of regulation, incredible volatility and astronomical relative risk, many cryptocurrency investors expect to earn meteoric returns. Returns in the ranges of multiples from 200% to 1000%.
Let us first begin by examining the kinds of people who invest in cryptocurrency, and then let’s see the reasons why each of them is investing in this relatively new market.
Types of Investors
The “Newbie” Cryptocurrency Investor
This investor is just starting out. They probably have not had any significant experience in any form of investing before and bitcoin is their first experience. They have heard about people making incredible returns from cryptocurrency investing, or some aspect of the entire blockchain and crypto revolution attracts them, and they decide they want to invest too.
Unfortunately, most of the newbie investors will end up losing their money, primarily because of one specific misconception; they think cryptocurrency investing is an easy way to make huge profits. “ “Types of Investors §2
“Gambler” or “Get Rich Quick” Investor
This is the second class of cryptocurrency investor, and is actually not really an investor at all.
This type of person is out to make a fortune as fast as possible. They will fall for whatever sweet-sounding scheme they hear. They love ideas that promise to double or triple their investment quickly. Like the Newbie, they do not understand how cryptocurrencies work, and they don’t care. The difference between this kind of investor and the successful individual or professional investor is that the gambler does not care about the management of risk, or about the timing of trades.
They place their money on the table, and they hope it will make a good return. They are gambling rather than creating an investment thesis and executing a well-thought out strategy. They might even have an infectious positive attitude, but unfortunately it is not backed by knowledge or the due diligence required to be a successful investor.
A good example of this style of thinking, outside of cryptocurrency, is high yield investment plans (HYIPs) that promise to multiply an investors capital by a certain factor. This is not to say that all HYIP programs are scams, but a good number of them are. Most importantly, the investors who flock into such plans have similar characteristics to that of the Get Rich Quick investor in that they will not take the time to learn about the field in which they are investing. They are just looking for fast money and an overnight success. “ “Types of Investors §3
Short Term Traders (Day/Swing Traders)
Short term traders must, without a doubt, be the most knowledgeable investors if they are going to succeed at their chosen profession. They have, or they should have, studied the art and science of trading more thoroughly than other people. This is the kind of investor who has taken the time to learn about cryptocurrencies and the markets on which they trade. Short term traders create deliberate and timed strategies in an attempt to profit from fast market movements. Maybe many of the short term traders started off as Newbies, but these are the individuals who took the time and effort to learn about the market. They wanted to know what they were doing. These are the people who survived and thrived to grow into the type of trader that they want to be.
Interestingly, the Day Trader does not attach emotion to any given coin. They do not need to believe in the sustainability/whitepapevision/road map, etc. of the project they are buying into at any particular time. They just need to be confident about the direction and timing of the potential price movement of the coin. “ “Types of Investors §4
Long Term Investors/ Hodlers
A great majority of successful cryptocurrency investors can be most properly classified as Long Term Investors, or HODLers in true crypto terminology. These are investors who understand quite a bit about cryptocurrency and blockchain technology and believe in the sustainability of the coins in which they are investing.
Think of the first few investors who bought bitcoin in the early days and years, when it was still deep under the radar for most people. These are the people who believed in the blockchain and cryptocurrency revolution. They didn’t sell their bitcoin for fast profit, although they had many chances to do so. They knew what they were doing, holding for the long term. These early investors and HODLers enjoyed astronomical growth all the way up to 2016 and 2017. But to be a long-term holder despite all the bad news and negative factors surrounding this brand new asset class, they must have really believed that bitcoin and the blockchain were going to change the world. This belief can only be established through study and research about the blockchain industry and the specific currencies and tokens in which you are going to invest.
Follow up and learn more on www.ubai.co!” “Types of Investors §5
Sophisticated/Professional Investors
These are experts in cryptocurrency investing. They most likely have a background in other forms of trading and investing, such as in stocks, bonds or options etc. They may also be earning fees by investing or managing money for other people.
The Iconomi fund managers are a good example. Each Fund Manager manages an array of digital assets. Investors might choose Iconomi because it offers a platform for the investor to allocate funds to specific fund managers, with the ability to swap between managers instantly if the investor desires to do so.
Each fund manager selects a number of coins in which they wish to trade or invest, with specified time horizons, short or long term. Investors can buy into the array of mutually held coins. This allows investors to utilize the knowledge and experience of professional fund managers to trade an allocated pool of capital, hopefully generating returns greater than the individual investor would be able to produce on his own.
The fund managers are motivated by the fees and commissions they earn, and perhaps a performance-linked bonus. You can certainly be properly classified as a Sophisticated Investor without any need to be a fund manager for other peoples’ money. But a professional fund manager has the ability to trade with a larger pool of capital, manage complicated risk, and diversify trading strategy to generate various streams of income. “ “Between Countries
A particular country’s participation in cryptocurrencies largely has to do with the legal regulations about blockchain projects and crypto currency investment in that jurisdiction.
When China banned the use of cryptocurrency, most Chinese nationals had to withdraw their investments. Many other countries have also placed bans on the use or trade of cryptocurrencies. Countries like Japan that have allowed the use of cryptocurrencies have witnessed a significant rise in cryptocurrency investments as a result. Japan and South Korea are home to several high-traffic cryptocurrency exchanges, meaning that a notable proportion of their population is investing in cryptocurrencies.
Another way to look at cryptocurrency investment demographics is to look at the bitcoin ATMs present in each country. The United States of America is the leading country, followed by Canada and then the United Kingdom.
According to a report by Google trends, the five top countries interested in bitcoin are: South Africa, Slovenia, Nigeria, Colombia and Bolivia.
Remember, cryptocurrency demographics can be a little tricky due to the anonymity involved. Many people may be afraid to participate in surveys, especially when their governments have placed legal restrictions on cryptocurrency investing.
The main point the research seems to validate is that the demographics of the cryptocurrency investor base is diverse. While the average investor may be a white or Asian male between the ages of 26-30 with at least a university degree, the entire investor base is so much larger than that. Many big investors are likely to be significantly older, and have connections and businesses in the traditional economy as well. “ “Notable Investors in Cryptocurrency
While many people have made fortunes from cryptocurrency investing, a handful of them stand out as being particularly remarkable. We will take a more detailed look at some of the biggest investment success stories to see how they did it and learn about their investing strategy.
The Winklevoss Twins
After being awarded their settlement from the lawsuit against Facebook, the Winklevoss twins decided to invest a significant portion of their money in Bitcoin. They invested $11million of the $65million they received. At that time, the price of a single bitcoin was about $120.
This high-risk investment paid off handsomely and they became the first publicly known Bitcoin Billionaires, perhaps owning more than 1% of the total bitcoin in circulation. In an interview with Financial Times in 2016, the twins jointly said that they consider “Bitcoin as potentially the greatest social network because it is designed to transfer value over the internet”. They also pointed out that compared to gold, bitcoin has equal or greater foundational traits of scarcity and portability. “ “Notable Investors in Cryptocurrency §2
Michael Novogratz
A self-made billionaire ex-Goldman Sachs investment banker, Novogratz has invested more than 30% of his fortune in cryptocurrency. In 2015, he announced a $500million cryptocurrency hedge fund, including $150million of his own money. Novogratz believes that “the blockchain, the computer code that underpins all cryptocurrencies, will reshape finance, just as the internet reshaped communication”.
The investment thesis of Mr. Novogratz is similar to that of the Winklevoss twins. He has taken and maintains a long-term position while he trades in and out of short term moves, based on his fundamental belief in the potential and likely application of the underlying blockchain technology. By starting an investment fund in addition to his other cryptocurrency related ventures, he is demonstrating a strong fundamental grasp of the technology, including its applicability and impact across so many industries. Slide
Barry Silbert
In December 2014 after the US Marshal’s office seized 50,000 bitcoins from the Silk Road, Barry Silbert purchased just 2,000 of those bitcoins at $350 per coin. A few years later of course, those coins were worth millions of dollars.
Barry is the founder and CEO of the Digital Currency Group (DCG) a cryptocurrency investment firm. Barry also made significant profits from Ethereum Classic, purchasing the coin in its very first days. He has invested in over 75 bitcoin related companies, including CoinDesk. As founder of the Digital Currency Group, Barry endeavors to support bitcoin and blockchain companies and accelerate the development of the global financial system. “ “Directly through Exchanges
Step One: Register on a reputable cryptocurrency exchange
To start investing, you first need to register on a reputable cryptocurrency exchange where you can buy bitcoin and other cryptocurrencies. Binance is a good exchange to use in this lesson. While it may or may not be the best, it is currently the largest, and they provide a very supportive layout and customer service department.
You should remember, to buy most altcoins (cryptocurrencies other than bitcoin), you specifically need to use an exchange like Coinbase or Kraken that allows you to convert fiat currency into cryptocurrency. From there, if you want to trade altcoins not listed on that exchange, you will have to transfer your BTC or ETH to a larger exchange like Binance, and buy the altcoin you want, using whichever trading pair that is best suited (BTC and ETH pairs are most common).
As we have already explained, if you are buying Bitcoin or any cryptocurrencies, you should invest in a wallet to safely store your coins. It is not advisable to store your BTC or other crypto on the exchanges for too long, due to hacking and other risks. “ “Directly through Exchanges
Step Two: Determine your Strategy
There are different ways to invest. You need to find a strategy that works for you and your specific set of skills. The value of a cryptocurrency is not defined by a formula or something out a textbook. If everyone was able to calculate the actual value of a share of stock, for example, or a bond, or other tradeable asset, then the price on an open market exchange would never move. Buyers and sellers would know exactly how much the asset is worth, so there would be no reason to sell lower or buy higher than the actual value.
You need to come up with your own ideas and strategies to take advantage of market moves. Sometimes you will have a position that is contrary to the general market. Other times you might be trading in agreement with a majority of other market participants. Investors are basically separable into one of two groups of thinkers. Contrarian investors go against the crowd, swimming against the current; Momentum investors ride the wave feeling secure in the majority. Being different can be good or it can be bad. You do not always want to necessarily get caught up in the most crowded trade. “ “Things to keep in Mind
Bitcoin Futures
We need to mention the bitcoin futures market as another potential way to invest. Toward the close of 2017, Bitcoin started trading on two fully recognized and well-established futures markets; the Chicago Board Options Exchange (CBOE), and the Chicago Mercantile Exchange CME.
The key quote from the exchanges was “because the futures can be traded on regulated markets, it will attract investors, making the market liquid, stabilizing prices and it will not suffer from low transaction speeds of Bitcoin Exchanges.”
For a risk averse investor, this offers a safer entry into cryptocurrency investing. A futures contract commits its owner to buy or sell the underlying asset, BTC, at a set price, and at a set date in the future. The investor in the futures contract does not actually own the underlying asset, but rather is trading on fluctuations in the price of the asset over a certain timeframe, as specified in the futures contract. “ “Things to keep in Mind §2
Common Pitfalls We cannot conclude this lesson without one more look at the common pitfalls a new cryptocurrency investor should avoid.
The problem areas are: -Falling for scams by failing to carry out due diligence. -Relying solely upon self-acclaimed crypto gurus and experts. If you want to trade, you must understand how to read news and charts for yourself. -Too much Greed. Not taking profit when you should. It is better to take a 20% gain, than wait for a 100% gain, only to lose it all in the end. -Lacking an investment strategy or exit plan. -Not sticking to your investment plan or strategy. -Allowing emotions to rule your decisions. Chasing your losses. -Investing what you cannot afford to lose.
And finally, some time-tested wisdom from Wall Street: Bulls make money. Bears make money. Pigs get slaughtered every time. (Don’t be greedy!)
We cannot overemphasize the risk involved in cryptocurrency investing. The potential to make huge gains over a short period of time does not come without risk. There is no doubt that significant players in the global financial markets are entering the cryptocurrency markets too. We are likely to witness more and more government authorities trying to regulate cryptocurrencies, hopefully to the overall benefit of a healthy market. It seems safe to say we will see cryptocurrencies become more mainstream due to the intense interest from the traditional financial industry and institutional investing community all over the world. What are better ways to successfully invest in cryptocurrencies? Which pitfalls should you avoid? Learn all on successful ICOs and STOs after reading the full lesson: UBAI.co How to start your STO/ICO campaign in 2019? Contact me via Instagram, Facebook, LinkedIn to know more about our education: Facebook LinkedIn Instagram
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We do however see Goldman Sachs mentioned on a regular basis within crypto news, notably during an announcement that saw the launch of USDC, an Ethereum ERC-20 based stablecoin that was launched by Circle very recently. Circle, is a firm that is backed by both Goldman Sachs and Coinbase, hence where the association lies here. Binance list USDC Goldman Sachs’ awaited cryptocurrency trading desk should also launch this year, while Nasdaq already supports cryptocurrency exchanges. All of these factors indicate a real move of Bitcoin into mainstream finance, and into the highly-regulated world of identity checks and third-party mediators that it was created to avoid. 2018 closed with the banking sector in a bear market and the worst ... Pal stands as a hedge fund manager and former employee of Goldman Sachs, and had done an interview with Jerry Hall on the “1-on-1” show. Pal held the prediction that Bitcoin-based ETFs is all ... News Surprising Facts About Goldman Sachs New Digital Head, That You Don’t Know . By Sara K Follow on Twitter Send an email August 7, 2020 Updated on September 4, 2020 , 8:51 am. 0. Highlights. Goldman Sachs’s U-Turn with Digital currencies has stunned everyone. A 22-year-old Wall Street Veteran, says, Bitcoin could be rehypothecated. A new head of Digital Asset at Goldman Sachs is a ... Upon hearing that Goldman Sachs was making Bitcoin the subject of a client call directly relating to inflation, many industry observers jumped to the conclusion that the news could only be positive for Bitcoin and institutional adoption. YouTuber Omar Bham (Crrrrypt0) commented on the client call: Goldman Sachs has reportedly agreed to settle with the U.S. government over its role in a corrupt Malaysian government investment fund, which is one of the firm's worst scandals since the ... Hey Goldman Sachs, 2014 just called and asked for their talking points back. Bitcoin was declared a commodity by the CFTC in 2015 in the Coinflip order…so yea it's an asset whose price is set by supply and demand. Just like gold. Just like oil. It's a commodity. — Cameron Winklevoss (@winklevoss) May 27, 2020 Goldman Sachs GS, along with Wall Street banking rival JPMorgan JPM, has a mixed history with bitcoin. After cheering bitcoin's epic 2017 rally to around $20,000 in 2017, Goldman Sachs "betrayed ... Goldman Sachs has warned that the U.S. dollar may lose its status as the world's reserve currency. The investment bank is bullish on gold as fears over governments debasing their fiat currencies ... Goldman Sachs and Korea Post. Earlier this week, Bloomberg reported that the South Korean postal service is actively seeking an understanding of cryptocurrencies. The president of Korea Post, Kang Seong-ju, said that he had spoken about cryptocurrencies with David Solomon, a Goldman Sachs chief effective, at a New York meeting.

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BREAKING: Goldman Sachs JUST Scheduled a MASSIVE Bitcoin ...

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