Ultimate glossary of crypto currency terms, acronyms and abbreviations
Axion - A Global Currency, Built To Serve The People
What is Axion? Per Axion's website:
AXION is the answer to our global financial markets that are on the brink of disaster. The original solution to this impending collapse was Bitcoin, a decentralized peer-to-peer currency. However, since its inception, certain aspects of Bitcoin, such as lack of speed and high fees, have shifted Bitcoin into more of a store-of-value than a currency. Axion is the currency to address that. With a high-interest time-locked savings account, Participants in the Axion Network are rewarded daily.
Rewards people, not the corporate elite
Global & Scalable
How is AXION distributed?
Anyone holding Hex2T (pre-sale) tokens will receive AXION at a rate of 1:1
Hex holders will also receive AXION 1:1, limited at 10M AXION tokens. Hex holders will also be auto-locked for a year, with 2% releasing weekly. More details can be found in the whitepaper. If Hex holders do not claim their AXION tokens, they will become available for purchase in the Daily Auction every week.
The Daily Auction
Putting Tokens and Value into your pocket.
To get Axion, it needs to be claimed by Hex & Hex2T holders, the longer they wait to claim, the more penalties they face. About 2% of their total per week. This 2% is added into a daily auction pool where people can bid using ETH on the Axion tokens within it. If you bid 10% of the ETH on that day, you get 10% of the pool rewards. 80% of the ETH paid in the auction is then used to hyperdrive both the Axion token and the stakers earnings. First, the ETH is used to purchase the tokens, boosting the token price, and then those tokens are distributed to stakers, creating a very strong positive feedback loop.
Axion is on the path to becoming the ideal global currency.
For the first time in history, inflation is increasing the purchasing power of the people within the network. Axion has partnerships lined up to be integrated in online and in-person payment solutions, where you can pay for nearly everything in your every-day life using Axion. The merchants can accept FIAT (converted from Axion), or Axion itself. This is a global movement.
Axion: Built to Scale
500 Billion Initial Total Supply 1:1 Freeclaim ratio for Hex2T and Hex holders 80% of ETH Earned in auctions is used to buy back tokens 8% Annual inflation that goes Directly to stakers 100% of all purchased tokens Are distributed to stakers No Auto-Stake For hex2t holders 100% autostake for hex holders
How to buy:
**Video Tutorials:**Metamask Install – https://www.youtube.com/watch?v=htyEeKNHX5ABuy/Sell Axion (HEX2T) – https://www.youtube.com/watch?v=vYZBOkHIM5k How Do I Buy Axion (HEX2T)? Step One: Purchase Ethereum from your exchange of choice (Coinbase, Binance, etc). You can also purchase Ethereum through Metamask and have it sent directly to your Metamask wallet (More details on this in Step Three). If buying through Coinbase, you’ll have the option to use a linked bank account or a debit card. Funds purchased via linked bank account will have a hold period while the bank transaction clears, funds purchased via debit card will be available for use instantly. Step Two: Install the Metamask desktop browser extension and set up your Ethereum Wallet. You may also install the Metamask app on your Android smartphone and follow the same set up process in the linked video. (Apologies iOS users, the iOS Metamask app has restrictions that disable necessary features, you’ll have to use the desktop browser extension) Step Three: Once you have your Metamask wallet set up and your seed words properly saved, it’s time to deposit Ethereum to your wallet. – If you’ve purchased Ethereum on an exchange such as Coinbase or Binance, you’ll have to copy your wallet address from Metamask and withdraw the Ethereum from the exchange to your Metamask wallet address that you just copied. Be sure to check the wallet address multiple times before sending as transactions can not be reversed. – If you’d like to purchase Ethereum directly through Metamask, you can do so using the Wyre fiat gateway that is integrated into Metamask. Step Four: Now that you have Ethereum in your Metamask wallet, you can head over to our listing on the Uniswap Exchange to purchase Axion (HEX2T). We recommend using Fast GAS to speed up your transactions. You may also have to click on the gear icon in the top right on Uniswap to adjust your slippage limit when buying larger amounts. – If using the Metamask app on Android, you’ll have to access the in-app browser through the menu (three bars top left of app) and paste the provided link. – You will see a “From” input that should have ETH as the selected currency pointing to a “To (estimated)” output that should have HEX2T as the selected currency. The “From” input is the amount of Ethereum you will be spending and the “To (estimated)” output is the amount of HEX2T that you will receive for that amount of Ethereum. – Once you enter the amount of Ethereum you’d like to spend, the button at the bottom of the page should say “Approve”. This “Approve” function allows the exchange to access Ethereum in your wallet, which is necessary to complete this transaction. You’ll click the “Approve” button and the exchange will send a transaction to your wallet, which you will have to confirm. Wait for that Approve transaction to clear and once it does the button should change from “Approve” to “Swap”. – Now that you’ve given the exchange permission to use the Ethereum in your wallet, you can click the “Swap” button. This will send another transaction to your wallet that you’ll have to confirm. Once that transaction clears, you’ll have successfully purchased HEX2T with Ethereum! Side Note: If you can’t see the HEX2T that you’ve purchased in your Metamask wallet’s Asset list, you’ll have to add the token to your Asset list. At the bottom of the Asset list you will see an “Add Token” button, click on that and you’ll see a “Search” and a “Custom Token” tab. Click on the “Custom Token” tab and paste the following address (0xed1199093b1abd07a368dd1c0cdc77d8517ba2a0) into the “Custom Token Address” field, the rest of the info should auto-fill. Then click the “Next” button in the bottom right, and it should display your HEX2T balance, click the “Add Tokens” button and you should now see your HEX2T in your Asset list. **How Do I Sell Axion (HEX2T)?**To sell Axion (HEX2T), you essentially do the inverse of what you did to purchase it.Step One: Head over to Uniswap Exchange and click on ETH in the “From” input, a drop down list will appear and you’ll select HEX2T. In the “To (estimated)” output, click on “Select a Token” and select ETH. To clarify, if you want to sell, HEX2T should be on top, ETH should be on bottom. Step Two: Enter the amount of HEX2T you’d like to sell in the “From” input, the button at the bottom of the page should say “Approve”. This “Approve” function allows the exchange to access HEX2T in your wallet, which is necessary to complete this transaction. You’ll click the “Approve” button and the exchange will send a transaction to your wallet, which you will have to confirm. Wait for that Approve transaction to clear and once it does the button should change from “Approve” to “Swap”. – Now that you’ve given the exchange permission to use the HEX2T in your wallet, you can click the “Swap” button. This will send another transaction to your wallet that you’ll have to confirm. Once that transaction clears, you’ll have successfully sold HEX2T for Ethereum! If at any point you feel that you need help in this process, please do not hesitate to join our fast growingDiscordorTelegram.Once you’re in either of those communities you’ll be able to ask an admin or moderator for assistance.
Their legal proposal is 95% complete, per their Discord announcement - and most likely be finished in the coming days.
10-03 23:35 - 'How do I calculate the entry position for BNB/BTC deal?' (self.Bitcoin) by /u/dev_lurve removed from /r/Bitcoin within 27-37min
''' I know that this questions might not directly relate to Bitcoin, but I am just looking for reddits where I can get help wrt to such questions. Hi guys,
I trade on Binance.
My account currency is BUDS (just want to have the USD-pegged stablecoin as the account currency). I assume that it's always pegged to $1...
My account amount is $1000.
I want to sell BNB/BTC because I believe that the chart is going to go down.
My SL is at 0.0026700, and my entry is at 0.0026340. I want to enter on the spot market. Thus, the SL BTC-wise is 0.0000360.
I want to have the 1% risk exposure to my account (i.e. the exposure for -$10).
(and just fyi I plan to exit at TP = SLx2; and just fyi, I use the mental SL and TP)
How to I calc the actual amount for my order. As far as I understand, I need to first convert the BTC-wise SL distance from BTC to USD, right? I.e. 0.0000360 BTC x 10500 $ = 0.4$. So, I got this part, but I am not getting what my next steps should be.
https://preview.redd.it/6w93e0afttx41.png?width=1400&format=png&auto=webp&s=c00989612ec2d52eb522405e6b6a98bf875e08bb Version 1.3.0 is a powerful update to TkeySpace that our team has been carefully preparing. since version 1.2.0, we have been laying the foundation for implementing new features that are already available in the current version. Who cares about the security and privacy of their assets is an update for you. TkeySpace — was designed to give You full control over your digital assets while maintaining an exceptional level of security, which is why there is no personal data in the wallet: phone number, the email address that could be compromised by hackers — no identity checks and other hassles, just securely save the backup phrase consisting of 12 words.
Briefly about the TkeySpace 1.3.0 update :
Code optimization and switching to AndroidX;
Selecting the privacy mode;
Selecting the recovery method for each currency;
Choosing the address format for Litecoin;
Enhanced validation of transactions and blocks in the network;
Starting with the current update, the TkeySpace wallet can communicate via the TOR network, includes new privacy algorithms, and supports 59 different currencies. https://i.redd.it/kn5waeskttx41.gif Tor is a powerful privacy feature for those who own large assets or live in places where the Internet is heavily censored.
Tor technology provides protection against traffic analysis mechanisms that compromise not only Internet privacy, but also the confidentiality of trade secrets, business contacts, and communications in General.
When you enable TOR settings, all outgoing traffic from the wallet will be encrypted and routed through an anonymous network of servers, periodically forming a chain through the Tor network, which uses multi-level encryption, effectively hiding any information about the sender: location, IP address, and other data. This means that if your provider blocks the connection, you can rest easy — after all, by running this function, you will get an encrypted connection to the network without restrictions. https://preview.redd.it/w9y3ax4mttx41.png?width=960&format=png&auto=webp&s=972e375fc26d479e8b8d2999f7659ec332e2af55 In TOR mode, the wallet may work noticeably slower and in some cases, there may be problems with the network, due to encryption, some blockchain browsers may temporarily not work. However, TOR encryption is very important when Internet providers completely block traffic and switching to this mode, you get complete freedom and no blocks for transactions.
Confidentiality of transactions (the Blockchain transaction)
The wallet can change the model of a standard transaction, mixing inputs and outputs, making it difficult to identify certain cryptocurrencies. In the current update, you can select one of several modes for the transaction privacy level: deterministic lexicographic sorting or shuffle mode.
Mode: Lexicographic indexing
Implemented deterministic lexicographic sorting using hashes of previous transactions and output indexes for sorting transaction input data, as well as values and scriptPubKeys for sorting transaction output data; We understand that information must remain confidential not only in the interests of consumers but also in higher orders, financial systems must be kept secret to prevent fraud. One way to address these privacy shortcomings is to randomize the order of inputs and outputs.
Lexicographic orderingis a comparison algorithm used to sort two sets based on their Cartesian order within their common superset. Lexicographic order is also often referred to as alphabetical order or dictionary order. The hashes of previous transactions (in reverse byte order) are sorted in ascending order, lexicographically.
In the case of two matching transaction hashes, the corresponding previous output indexes will be compared by their integer value in ascending order. If the previous output indexes match, the input data is considered equal.
Shuffle Mode: mixing (random indexing)
To learn more about how “shuffle mode” works, we will first analyze the mechanisms using the example of a classic transaction. Current balance Of your wallet: 100 TKEY, coins are stored at different addresses: x1. Address-contains 10 TKEY. x2. Address-contains 20 TKEY. x3. Address-contains 30 TKEY. x4. Address-contains 15 TKEY. x5. Address-contains 25 TKEY.
Addresses in the blockchain are identifiers that you use to send cryptocurrency to another person or to receive digital currency.
Let’s look at a similar example: you have 100 TKEY on your balance, and you need to send 19 TKEY. x1. Address-contains 10 TKEY. x2. Address-contains 20 TKEY. x3. Address-contains 30 TKEY. x4. Address-contains 15 TKEY. x5. Address-contains 25 TKEY. You send 19 TKEY, the system analyzes all your addresses and balances on them and selects the most suitable ones for the transaction. To send 19 TKEY, the miners will be given coins with x2. Addresses, for a total of 20 TKEY. Of these, 19 TKEY will be sent to the recipient, and 0.99999679 TKEY will be returned to Your new address as change minus the transaction fee. https://preview.redd.it/doxmqffqttx41.png?width=1400&format=png&auto=webp&s=5c99ec41363fe50cd651dc0acab05e175416006a In the blockchain explorer, you will see the transaction amount in the amount of 20 TKEY, where 0.99999679 TKEY is Your change, 19 TKEY is the amount you sent and 0.00000321 is the transaction fee. The shuffle mode has a cumulative effect. with each new transaction, delivery Addresses will be created and the selection of debit addresses/s that are most suitable for the transaction will change. Thus, if you store 1,000,000 TKEY in your wallet and want to send 1 TKEY to the recipient, the transaction amount will not display most of your balance but will select 1 or more addresses for the transaction.
Selecting the recovery method for each digital currency (Blockchain restore)
Now you can choose the recovery method for each currency: API + Blockchain or blockchain.
Note: This is not a syncing process, but rather the choice of a recovery method for your wallet. Syncing takes place with the blockchain — regardless of the method you choose.
What are the differences between recovery methods?
API + Blockchain
In order not to load the entire history of the blockchain, i.e. block and transaction headers, the API helps you quickly get point information about previous transactions. For example, If your transactions are located in block 67325 and block 71775, the API will indicate to the node the necessary points for restoring Your balance, which will speed up the “recovery” process. As soon as the information is received, communication with the peers takes place and synchronization begins from the control point, then from this moment, all subsequent block loading is carried out through the blockchain. This method allows you to quickly restore Your existing wallet. ‘’+’’ Speed. ‘’-’’ The API server may fail.
This method loads all block headers (block headers + Merkle) starting from the BIP44 checkpoint and manually validates transactions. ‘’+’’ It always works and is decentralized. ‘’-’’ Loading the entire blockchain may take a long time.
Why do I need to switch the recovery method?
If when creating a wallet or restoring it, a notification (!) lights up in red near the selected cryptocurrency, then most likely the API has failed, so go to Settings — Security Center — Privacy — Blockchain Restore — switch to Blockchain. Syncing will be successful.
Enhanced validation of transactions and blocks in the network
Due to the increased complexity in the Tkeycoin network, we have implemented enhanced validation of the tkeycoin consensus algorithm, and this algorithm is also available for other cryptocurrencies.
What is the advantage of the enhanced validation algorithm for the user
First, the name itself speaks for itself — it increases the security of the network, and second, by implementing the function — we have accelerated the work of the TkeySpace blockchain node, the application consumes even fewer resources than before.
High complexity is converted to 3 bytes, which ensures fast code processing and the least resource consumption on your device.
The synchronization process has been upgraded. Node addresses are added to the local storage, and instant synchronization with nodes occurs when you log in again.
Checking for double-spending
TkeySpace eliminates “double-spending” in blockchains, which is very valuable in the Bitcoin and Litecoin networks.
For example, using another application, you may be sent a fake transaction, and the funds will eventually disappear from the network and your wallet because this feature is almost absent in most applications.
Using TkeySpace — you are 100% sure that your funds are safe and protected from fraudulent transactions in the form of “fake” transactions.
The bloom filter to check for nodes
All nodes are checked through the bloom filter. This allows you to exclude fraudulent nodes that try to connect to the network as real nodes of a particular blockchain. In practice, this verification is not available in applications, Tkeycoin — decided to follow a new trend and change the stereotypes, so new features such as node verification using the bloom filter and double-spending verification are a kind of innovation in applications that work with cryptocurrencies.
Updating the Binance and Ethereum libraries
Updated Binance and Ethereum libraries for interaction with the TOR network.
Function — to hide the balance
This function allows you to hide the entire balance from the main screen.
Advanced currency charts and charts without authentication
Detailed market statistics are available, including volumes, both for 1 day and several years. Select the period of interest: 1 day, 7 days, 1 month, 3 months, 6 months, 1 year, 2 years.
In version 1.3.0, you can access charts without authentication. You can monitor the cryptocurrency exchange rate without even logging in to the app. If you have a pin code for logging in, when you open the app, swipe to the left and you will see a list of currencies.
Transaction verification for Tkeycoin is now available directly in the app.
Independent Commission entry for Bitcoin
Taking into account the large volume of the Bitcoin network, we have implemented independent Commission entry — you can specify any Commission amount. For other currencies, smart Commission calculation is enabled based on data from the network. The network independently regulates the most profitable Commission for the sender.
New digital currencies
The TkeySpace wallet supports +59 cryptocurrencies and tokens.
Bitcoins Bitcoins (BTC) the most valuable and talked about cryptocurrency is a digital floating exchange that is most used actively on trades of exchanges. https://preview.redd.it/mtmqalo4fzm41.png?width=1200&format=png&auto=webp&s=bae8e53adb94963b83e9b8137ae6504e576f50a2 Launched in 2009, it is considered to be a digital firm which has grown wildly over the past years, used mostly for online purchases and an investment There are numerous trading platforms and online exchanges that let you trade bitcoin and other cryptocurrencies. But the main thing you have to beware of is trading costs, platform security, and reputation/trust of the bitcoins suppliers. Which place is safe to buy this Bitcoins? Bitcoins, not sponsored by any government. Instead of, you can buy bitcoins from bitcoins mining community or else you can also buy them with dollars or nearly any other currency. As noted, there are few places where you can safely buy this bitcoins CoinBase Coinbase is the largest and most reputed Bitcoin platform functioning in the United States. It is one of the easiest places to start with Bitcoin which offers both an exchange and wallet in one choice. It supports Bitcoin Cash, Ethereum and Litecoin. Once you sign up and connect your bank account, you can easily transfer funds in and out of your account and convert them to Bitcoin and back to dollars at will. You can access it through both the Web app or mobile app. It utilizes two-factor authentication and keeps redundant digital and paper backups of data “in safe deposit boxes and vaults around the world. Coinmama Coinmama has more than one million customers in 188 countries and it functions as a all-in-one exchange and digital wallet that makes it easy to buy Bitcoin and a limited list of additional currencies in the U.S. Dollars or Euros. It has no mobile app, but the website is very high quality \ Robinhood Robinhood initially started as a fee-free stock brokerage and recently expanded into the world of digital currencies. From February 2018, you can buy and sell Bitcoin and other digital currencies completely fee-free on this platform. It supports Bitcoin and Ethereum trades and market data for another 15 currencies. Started its operation in mobile first and recently it added a Web version, so it is best for people comfortable managing money from their phone or tablet. Binance Binance supports a wide range of digital currencies including Bitcoin, Ethereum and its own Binance Coin (BNB). It offers a wide option to trade coins into multiple currencies and supports digital currencies, including EOS, Skycoin, TRON, ICON, Ethereum Classic, Litecoin, Ripple, Stellar Lumens, Bitcoin Cash, plus a bunch of cryptocurrencies. But noted, there are also some bugs reported with this Android mobile app and some users have reported delays withdrawing certain currencies CoinExchange CoinExchange is another low-cost exchange platform as it offers a huge number of coins on its platform, perhaps the biggest lists of coins supported by any platform on this list. On this platform the website looks simple, it comes to the point of security, it is robust and has long-term support for currencies on this platform. Coinbase Pro Coinbase Pro (formerly known as GDAX) looks familiar to those who use Bloomberg terminals or active stock, commodity and option trading platforms. Because GDAX is now part of Coinbase, funds are safe and insured, and the majority of coins are stored in physical form offline to prevent theft. Square Cash Square cash is another mobile app, here you can buy and sell Bitcoin with no fees. Buying and selling free puts this Cash app near the top of the places to buy Bitcoin list. Unlike some digital wallets, you don’t hold your Bitcoin outside of Square, it is held in your Square Cash account on your behalf to sell or withdraw. But if you do want to send your coins to another wallet, Square does offer that feature. Local Bitcoins LocalBitcoins was founded in june 2012 and has set its marketplace from Helsinki, Finland. The site uses an escrow system, and the transfer of bitcoin is made after funds are received in the sellers account. The site is suggested for casual traders seeking more privacy. Paxful Bitcoins Paxful is very popular in the cryptocurrency space. In this platform, you can start immediately with a digital wallet and also you are allowed to buy or sell hassle-free bitcoins. It has both the functions of a website and the mobile apps. Which Is The Correct Time To Buy Bitcoins? To Find out the right time to purchase bitcoins, make use of tools like Bitcoin Wisdom or Cryptowatch. It has a metrics chart which analyse with the other Bitcoin trading sites. These charts will help you understand Bitcoin’s price history across the many global Bitcoin exchanges. #bestplacetobuybitcoin #bitcoinaccount #bitcoinlogin #bitcoinwallet #Bitcoins #Buybitcoin #cryptocurrency #digitalcurrency #paperlesscurrency #paperlessmoney #ethereum #ethereumwallet
Dear Pundians, Thank you for participating in the AMA session with Pundi X co-founder and CEO Zac Cheah. For those of you who may have missed it, the live recording of the AMA session held on July 3 at 10:00 am GMT+8, tackling Q2 progress and addressing questions and concerns by the community members, can be viewed here. A side note that today’s AMA video quality and setting was not ideal. We acknowledge this situation and will make improvement for our next AMA session. You may also find a summary of the Q2 progress presentation as well as all the detail Q&A below. ## Pundi X Q2 2019 Highlights * Pundi X has integrated more public chains into our products. In Q2, we completed integration of Binance Chain. NEM chain is in the work. As of today we’ve launched BNB, the Binance Chain native Coin and XEM, NEM native coin on Pundi X payment platform. We will integrate at least one more public chain in Q3. * The transactions on XPOS for Q2 is 15.5 million in USD, which is close to 300% quarterly growth. The number of transactions is 29,367, which leads to a 11% growth QoQ. * XPOS has successfully received FCC and KC certifications. A new certification for Latin American market is on the way. * To expand XPOS footprint, Pundi X’s integration with a new leading mainstream point-of-sales device is in the work. Stay tuned for the announcement. * Pundi X Open Platform was launched in May, 2019, which now supports ERC20 and BEP2 token listing. Moving forward, we will continue to support tokens from other public chains. * A 3,000 XPASS order from DigiX, a gold-based token, and a 10,000 XPASS order from BitCobie this quarter. * XPOS is spread in use in over 30 countries. We’ve published a map of XPOS location of self-report XPOS merchant directory. You can find a list of selected XPOS merchants at [https://www.pundix.com/products\](https://www.pundix.com/products). * The QoQ growth of XWallet is tremendous at 43%. In the previous quarter, we have less than 20k users, whereas in Q2 we have hit 297k XWallet users. More updates on XWallet: * Supported BNB and NEM tokens; 2FA, face ID, and optimized SMS serviceAvailable on iOS, Android as well as in Samsung Galaxy Store New features coming up in Q3:- DApp integration - Decentralized wallet- In-app crypto payments - Chat service, which will be compatible with a commonly used chat app- f(x) testnet features to be rolled out first in XWallet ## Other notices coming up in Q3 2019 * The Q2 token removal will take place on July 14, 2019, which will involve in total 34 billion of NPXS and NPXSXEM (22 million worth in USD) removal. In the past 365 days, we’ve removed a total of 36.1 million US dollar worth of NPXS and NPXSXEM. Before Q2 removal, the total supply of NPXS ERC20 is 266,962,422,906.53 and NPXSXEM is 95,816,218,929. [See Q1 removal here.](/pundix/recap-of-ama-with-zac-on-july-3-and-q2-report-a23de165dd28) * [NPXSXEM will be ported to Binance Chain from July 20](/pundix/npxsxem-will-be-on-binance-chain-c6485f17726b). * XPhone pre-order will start in late July with a new product name. Stay tuned. Check out the teaser video that we are releasing it across our communication channels. ## Q&A ## On XPOS * **Where are we on official global location of XPOS?** Zac: We have made a map on our official website that merchants can self report and feature their locations. It’s at [https://www.pundix.com/product\](https://www.pundix.com/product). We’ll be increasing and updating the map once we have permission form the merchants to update their locations. * **The marketing from pundi has shifted from 100,000–700,000 xpos units by 2021 to 100,000. I understand the bear market has affected this but please share the strategy moving forward to hit your goal. How do you feel about hitting this goal?** Zac: The 100K XPOS target has always been the initial goal and it’s stated in our whitepaper. And we are still working on achieving the goal by the end of 2021. Part of our growth strategy is to also explore the possibility to port our platform to traditional POS manufacturers to increase the adoption, which is ongoing at the moment. * **1 year ago you sent 5000 XPOS somewhere. When, at least half of them, will be working? 3 year target was 100,000 by 2021. Now we have only 150 units, how do you expect to reach this goal?** Zac: Yes, we have shipped thousands of XPOS to over 30 countries in the world. The 150 you’ve mentioned are the featured merchants which are published on the map. The active XPOS devices are deployed over 33 countries and we are actively talking to B2B partners to have higher wholesale and big deployments. * **How many XPOS are live and used?** Zac: We have gone through a very serious bear market, and some of the initial inbound requests for XPOS are not delivered. However, we are working slowly but surely with our Business Development team to not just roll-out into individual buyers, such as what we did on Pizza Day, but also to B2B partners. With the certifications approved, that will also help us to officially roll out to some of the key markets. Individual merchants can use XWallet collection feature to accept crypto payment with QR code. For the merchants who have physical offline storefronts, they can use XPOS to enable the instant crypto transaction seamlessly. Moreover, as mentioned previously, we are exploring the integration on leading traditional POS terminal so that their distributors have option to enable crypto transaction feature. As for the challenge to adopt XPOS, it is the regulatory compliance in different countries. For this, our legal team think ahead and encourage our merchants to complete KYC. I must be very honest to say the activation takes longer time than we expect but it will be worth at the end. * **What’s the average number of transactions per xpos in use?** Zac: The transaction number has increased very well. The number of each XPOS differs, due to the frequency of using crypto currency to purchase item or crypto assets. There’s no standard answer to this, but overall we see the transaction number and volume are going up. * **How do you plan to reach the target of 100,000 by 2021?** Zac: One of the challenges that we have is regulatory compliances in different countries. There are certain markets that do not allow crypto currencies and some require a clear approval for us to deploy XPOS. We are working on both challenges by talking to governments and applying for certifications. So how we plan to reach 100,000 XPOS user by 2021 is to work with distributors, B2B partners on a government / business level, and with existing POS companies to integrate our software solution into the system. * **We understand as there was bear market and hence Xpos usage demand was low. Are you guys seeing growth of Xpos usage with current market conditions. Can you guys put some statistics comparison like last 30 days Xpos usage vs any month from bear market usage?** Zac: It is very clear that as we moved out from the bear market, the demand for XPOS has been increasing. As we’ve shared just now both the transaction number and volume of Q2 have beaten Q1. We’ll be able to share more transaction numbers once we receive approval from our XPOS merchants. One exciting thing is that, with the listing of different tokens, we also see users using these tokens as a way to transact on XPOS, which means we will be having more ways to transact and this is a growth point for XPOS. * **When will there be more details for XPHONE and XPOS HANDY?** Zac: For XPOS handy, we have finished production and it will be released in Q3 * **When will the iOS version of XWallet and XPOS be fully translated to other languages?** Zac: Right now, the XWallet has Traditional Chinese, Korean, Spanish, German and English. With the latest version update, it now includes Portuguese. XPOS also comes with many languages and we hope to finish with more language, either working with professionals or volunteers. If you’re interested in volunteering, please contact us. * **When will the Merchant back office have Product Registration and SKU id ability and also integrate with other POS software?** * **When will the top-up feature go away for XPOS to allow liquidity for XPOS** Zac: We constantly update features in XPOS and merchant backend to make it easier for distributors and merchants to use. We understand that one of the ways for mass adoption is to enhance our distributor management system. With that, the distributors can manage manay XPOS at one time with different merchants. Please stay tuned as we announce more and more functions of this feature. ## On Dubai * **When will we see the deployment of the XPOS in Dubai?** * **Can we spend NPXS on the Dubai XPOS?** Zac: As with all big projects there are a lot of moving parts, that includes working very closely with the local government, in Dubai’s case, the Credit Bureau of the Finance Ministry. Things are progressing for the Dubai project but due to confidentiality agreements with the parties involved, we cannot reveal much. All we can say is that we and our Dubai partners are working hard to have XPOS roll-out in the Dubai market and the UAE. We are also discussing aggressively with Dubai partners whether to include crypto assets in the XPOS in Dubai. That clearly will involve local compliance and legal for that to happen. * **Your system upgrades expect merchants to have downtime on their XPOS terminals, can you explain if you plan to run a business why this would be considered feasible (specially at the rate you have been doing your upgrades)?** Zac: Yes, the benefit / strength of the XPOS is that most of the updates can be done on the fly. For example, when we have a token update on our XPOS where developers submit their tokens on Open Platform, the updates of this token are on the fly, which means that once we approve the token on our Open Platform, it will automatically appear on XPOS without any software updates. The great thing that we believe about XPOS is not just the support of crypto assets, but also the ability to update most things on the fly, which means that whenever we have a good feature or a new token, the updates will be done instantaneously. * **Can you guys arrange at least a community voting which is the next blockchain we would like to see next in XPOS? Voting will help to prioritize to chose the projects.** Zac: One of the reasons why BNB is being listed on the XPOS is simply because of its popularity and also our user demand, in a way that we are already answering to our community’s request. Right now, our main focus is getting all the tokens submitted on Open Platform to be listed on the XPOS. The submission process includes legal and compliance valid, so our legal and compliance teams are working hard to make sure that we have more tokens to roll out onto Open Platform, which means that they will be on XPOS, XWallet, and XPASS. As to a specific voting mechanism, we’d like to consider that and hopefully we’ll be able to run a specific voting for the chain which users would like to see. * **While comparing Xpos handy to Square POS devices at least with mobile it’s very cheap like under $30 and easy to use. When can we expect such light weight and cheaper version for XPOS? Is team working on such devices ?** Zac: There are different POS companies around the globe and pour focus is to work with these POS companies with our software, so that a crypto sales feature will be part of the existing POS system. The more support of crypto asset usage using our software on existing POS, the better it is for global adoption. We actually strongly believe that the pricing of our POS system is competitive in the market. And one of the great features of the XPOS is that the merchants will not need not to pay a certain percentage to existing acquirer but to be able to earn certain percentage from each transaction. That is the key differentiator for merchant to want to adopt this. * **From the website with some of the key Countries for XPOS adoption looks great. However, the concern is for Venezuela, there is no reference link like the others have. Can you guys add the link with details to clear the ambiguity?** Zac: Let’s give a little bit more patience so that we can actually release more information about our Venezuelan partnership. The good news is that we expect concrete news from Venezuela in the coming 2 weeks. So stay up-to-date about our Venezuelan roll out on XPOS, the best way is to subscribe to our telegram group for Venezuela. ## On Partnerships * **Are there some major partnership in the works? I’m also interested in how you do immediate transactions? Do you anticipate scaling issues?** Zac: The way XPOS is being designed is that when you use your crypto assets to purchase, it will have instantaneous confirmation because the action is an off-chain process. An on-chain action happens when a user who owns crypto assets in our system transferring the assets out of the Pundi X ecosystem to their own wallets; or to transfer crypto assets in Pundi X from an off-chain to a private wallet, which we will have very soon on XWallet itself. That is why we are able to handle scaling. When a person wants to use crypto currency to buy a coffee, the transaction will happen instantaneously. For specific partnership, especially with B2B partnership, we oblige to the NDA that we have signed. But if you follow us closely, you’ll know that we go to different parts of the world, talking to major companies to try to land more deals so that NPXS usage will increase dramatically. * **Any big partnerships for making xphone or using the software for xBlockchain?** Zac: These partnerships are also subjected to NDA, so please be patient for us to release more news. * **When will XPOS have approval to process Visa and MasterCard payments?** Zac: We have met representatives from these players including some of the key management people. They are obviously looking into crypto currency attentively, and we hope that there’s something we can do with MasterCard and/or Visa. This is something that the community has suggested and we agree fully. Please allow us with some time to work on this. We have also showcased XPOS to the CEO of MasterCard. For what or when will anything happen, please wait for our official announcement. * **What’s the status on Quantum fund and their contribution or involvement with Pundi’s project?** Zac: We announced last year that we are creating a fund to invest in projects beneficial to our ecosystem. We’ve identified some interesting projects, and we have invested in at least 1 project. The reason why we’re investing in that project is because of the services that it will bring onto the Pindi X ecosystem. So the purpose of the investment of the companies is that these companies in turn will benefit on our ecosystem. This is our key consideration. The team has evaluated the projects that will benefit the Pundi X / Function X ecosystem. Vic and his team will be able to reveal more details on the companies we have invested in and how they will contribute to our ecosystem in Q3. * **Recent update on NPXSXEM is highly ambiguous as mentioned that it will be now BEP token and later once FX goes live it will get back to Fx platform. Why you guys had so rush to use Binance chain only for few months? Isn’t you guys switching to much in a short time span?** Zac: Liquidity and utility have been an issue for NPXSXEM. Due to the design philosophy and the limit of token that can be created on NEM’s smart contract, we are only able to create a small number of tokens on NPXSXEM. By moving into the Binance chain for NPXSXEM, the BEP2 token version will be able to support all the NPXSXEM tokens, which means that we’ll migrate and also be able to make sure all the NPXSXEM tokens are under the same contract address. We believe with the strong liquidity, we will be able to give our NPXSXEM token holders a good reason of what the token holders have been waiting for. We hope to bring NPXSXEM to match the level of NPXS. * **When #XRP?** Zac: Our OpenPlatform is a currency agnostic platform, which means that we will work on integrating public chain as well as tokens that are most requested by the users. We’ll also be looking into the listing of different tokens that are being mentioned by the community. As said, we will have at least one more public chain integration in Q3, perhaps even more. * **Are you as a company going to try and connect with libra? If they have said they want to be a payment remittance service, have Square, PayPal, Visa on board I as an investor would prefer you try to join them rather than beat such large competitors** Zac: Of course, we’ll be delighted to work with Facebook and also the Libra coin. Pundi X and XPOS is a currency agnostic / currency neutral platform, if there’s opportunity to list Libra coin or work with Facebook in different ways to promote crypto currency adoption, we’ll certainly look into that and work on reaching out to them. ## On Trading * **Can you confirm during AMA, Pundi team is not involved with any trading with their own token like selling over time to manage the fund to run the company.** Zac: All the wallet addresses of the team holdings are disclosed and transparent. This is one of the first things that we did after ICO. Hence, our token holdings are transparent and everyone can monitor our fund transactions. Also, we have strict internal financial regulation and compliance, shows that we are here to build a long-term project. The best way to make NPXS or the NPXSXEM to rise is real daily life use case. * **When will you stop manipulating NPXS chart?** Zac: Our focus has always been and will be building great products. The more product usage, the demands for NPXS and NPXSXEM will increase. Let’s address again that, Pundi X the company is NOT involved in any manipulation of the NPXS price. There are trading teams, market makers, financial institutions that profit from the drop and rise of token prices in the crypto market. The good thing about NPXS is that we have managed to create a high liquidity by listing on 40+ exchanges and having global trades and demand from all over the world. We hope this and coupled with the fact that we are a solid product and roll out the use cases, the demand of NPXS will only continue to rise and will be able to deter any of the traders or speculators there is for NPXS. These traders gain profit from manipulating tokens whether BTC or other tokens. In fact, the traditional financial markets have similar challenges as well. What I want to stress is that, we at Pundi X, do NOT speculate or manipulate the price. We work very hard to create demands for NPXS and as a company, it is only beneficial for us to see the prices of NPXS and NPXSXEM rise. * **Can we please address the elephant in the room which is the Binance bot with huge sell walls and buy walls causing huge distress and concern among users?** Zac: First, I cannot confirm nor deny that whether Binance has a bot. I think this is something that you need to ask Binance. We need to work with Binance because Binance has one of the biggest liquidities, if not the greatest liquidity, for NPXS. The best way to counter manipulators is to create more use case, more demand and more acceptance of our tokens. * **Why on almost all exchanges do you not offer a USDT trading pair?** Zac: We have USDT trading pairs on Bittrex, Bittrue, and more. In addition, we have fiat pairs in Korean Won, IDR, INR, and Turkish liras. We will continue to work on adding trading pairs for NPXS to make it more liquidate. * **Why don’t you offer a stable coin sell and purchase on the xpos to help with adoption? Places in Africa with volatile currencies would go crazy for this.** Zac: It’s a great observation. This is a request that’s been asked from many users. We’re working on stable coin listing on XPOS and hopefully it’ll come soon. Stable coin requires a greater compliance and legal validate, which we have been working on since months ago and we hope to have the stable coin up in XPOS soon. * **When will you add an active tracker for coin burn, whether its measured in usd, NPXS or whatever you choose. The community has been asking for this on twitter, reddit and telegram for this entire year.** Zac: It will be hard for us to have a daily tracker of the coin burn, but what we might be able to work on is a tracker which have shown all of the tokens that have been removed from the usage. Thank you for giving us this great suggestion and we will work on it in some form. Zac: Our token supply has always been specified in our white paper, and as promised in our white paper, we will continue to remove tokens through usage and use cases, which we’re working on all the time. * **Price movement. When will NPXS go to which price?** Zac: We cannot comment on the change of the price. Our focus is on building products. We hope by doing that the NPXS value will go up. Again, there’s no way that we can comment on the price. **I believe that burning tokens every 14 weeks keeps the price suppressed and will only lead to huge pumps and dumps. Imo, If the burns were more frequent, the price would move organically.** Zac: We continue removing tokens quarterly per advised by our legal and compliance team. **Is it mandatory npxs swap? What happens for token we have in binance?** Zac: No it’s not a mandatory NPXS swap for FX. **How many NPXS or NPXSXEM was converted?** Zac: In Q2, we will remove 29B NPXSXEM and 9B NPXS. ## On XWallet * **Why not put in XWallet like the place where we can buy and sell like restaurants and shops?** Zac: You are correct. In fact, if you look at XWallet, there is a merchant feature, whereby you can register as a merchant. By becoming a merchant, you will be able to print out your QR code and stick it on your restaurant. People are able to make payment through this QR code. This will act like a mini-XPOS. * **In addition to that having multiple different blockchain in XWallet will increase the XWallet adoption. Hence, we would like to see aggressive game plan and execution from the team and would like to hear that** Zac: That’s a great suggestion. Every day we want to increase use cases for XWallet. In fact, our XWallet update is one of the most frequent in the market. Within 5 months, we have over 10 updates on iOS and Google Play. This does not include soft update which happens every several days. In my view, the effort is very tremendous. * **Is there any plan to add Swap option within XWallet so that people can trade the coins within XWallet?** Zac: Yes, there’s such plan and in fact there is an upcoming feature that people will be able to use coins in XWallet to exchange into other things. The exact form and format have not been reviewed. We hope to share more when we have concrete example. But what you suggested is what we are planning for months ago. * **When will XPOS and XWallet have fiat on ramps?** Zac: This is a good question. It’s not only involved with regulatory compliance but also involved the technical part. This is also something we are planning for months. Once approved, hopefully we are able to support fiat currency on ramps and off ramps on XWallet. **On Others*\* * **How is the internal organization doing? Currently how many employees work for Pundi? Currently how many job positions are open?** Zac: Pundi X has grown tremendously. We are now having over seven offices around the globe. I’m sitting in the Singapore office. We have office in Jakarta, Taiwan, Tokyo, Shenzhen, São Paulo and London. These are the places we have physical offices and house approximately 100 full time employees of Pundi X. The positions open from Pundi X are legal associate in Singapore and other offices. We are looking for more R&D people, especially in Taiwan. We are looking at marketing and PR people in different parts of the world. And we are looking for POS distributors. As a POS distributor, you will work with our business development team and also our technical team to roll out many XPOS which you have a network to control in your local market. * **Would you consider removing the KYC to allow u.s. holder to stake and be rewarded?** Zac: We would love to have more users, including US. However, our compliance and legal advisors have not allowed us to accept US holders to stake and be rewarded. I’m sorry to say that but this is after serious consideration to make such a decision. In fact, it is a very hard decision because we have healthy user base in the US. will continue to monitor the situation in the different markets and be compliant. There are also ways to be rewarded when using XWallet service without KYC. We are looking into to explore more on this and launch new features. Hopefully we are able to bring the beta version for you to test this week or next. **On XPhone*\* * **Where are we on pre-sale announcement of Xphone? It was highlights of Q2 goal. If we are getting delay, that’s ok. But at least community will have some clarification why it’s getting late and when approximately it coming?** Zac: Pre-sale order will start this month. It’s likely the end of July. Pre-sale will take place in different channel including the official website and XWallet. Apart of our own channel, the pre-sale will go live on a 3rd party channel. People will be able to pre-order crypto either in crypto or in fiat. * **Can you discuss in AMA, is participants can pay with Crypto or Credit/debit card or in both ways?** Zac: As a crypto company, we prefer payment in crypto, but fiat, Visa, MasterCard, and other traditional payment methods will be accepted on different pre-order channels. Stay tuned for pre-order which will happen in late July. * **Will the Xphone be open to purchase in all regions of the world?** Zac: Yes, pre-orders will be able to be done on-line, and products will be shipped from our offices to users in different parts of the world. * **Will the blockchain mode on the Xphone be operable during the testnet or will this function not work until mainnet?** Zac: XWallet and XPhone are the first channel and avenue for Function X testnet, so once the testnet is operateble, we will start to engage certain services on XWallet and XPhone into Function X testnet, and ultimately into mainnet. Slowly but surely. * **Does Xphone have hard protective cover,extra Sim slot, also is it enhanced with ip68 water rating?** Zac: XPhone will not be waterproof, so please do not submerge XPhone into water. XPhone will definitely be eavesdrop-proof because we’re using a blockchain mode, only you and you control your own conversation. * **Which country accept the Xphone?** * **Will I also be able to use the SIM-card?** * **The blockchain modus will work in every country (what in the absense of nodes)?** * **Will the XPhone I buy now support updates in the future?** Zac: People from any country will be able to buy XPhone on-line. You will be able to use a SIM for we have built a SIM slot. Wherever you are, the XPhone can be turned on to become a node. Will XPhone support future updates? Yes, of course. Just like the XPOS, we support silent update. It will be like how we support XPOS, many updates. The updates will always be supported on XPhone. **On Function X*\* * **When is the detail white paper coming for FunctionX? Why the team is very resistive to have well documented white paper? We need scientific approach and well documentation on FunctionX to have developers to be more involved.** Zac: Yes, developer involvement is a key criterion of the growth of Function X. We have done 2 things, one is that we have set up Function X Foundation which is led by David Ben Kay and will involve third party adviser and board members. Second, we have set up a developer relations team led by one of our own members as well. This team will work on creating developer documents, developer demos and sample, so that excellent developers can tap into working with Function X resources. The first version of developer documentation is ready in English and Chinese. We are still polishing up the documents and hopefully to release them soon. We are also working with third party developers, and are engaging at least 2 third party developer companies, so that we can help create their services on Function X and also XWallet. We are hoping to showcase a smooth and usable service to the audience, we think this is the key criterion of the Function X growth. Thank you for this suggestion. We need to update more often on github developer documentation as well. As for the white paper, we did not have one per se because Function X did not do an ICO. But we will continue to update our white paper and include not only technical details, but also details on the chain and how we can get more developers and users so that the future hardware will be added as a node and you will be rewarded financially, at least through our ecosystem genesis fund. Please stay tuned and there are a lot of things going on in the company. Each and one of us is working hard. * **Why does the FX ecosystem need a decentralized OS?** Zac: The mantra of Function X is decentralization and having private control of your data. A full private control of your data comes with a decentralized system not just in transmission of your data, but with the operating system built fully for decentralization , which includes a transmission protocol replacing http. The apps uploaded into Function X will be decentralized as well as the data that is stored on the app, which means that how BitCoin or crypto assets are verified on different nodes will also be part of the way we store data and content. The decentralized OS is key to fulfilling a decentralized environment for a more private and free usage. * **What about FX are you most excited about?** Zac: We are actually creating a shift of how people view of blockchain and how decentralization is not just about transacting commercial commodity, but also data, including your identity, are all decentralized. That is what we are most excited about. The only way for us to achieve this is to have developer support, for we need the developers to build on the foundation we have to offer those exciting services. * **We understand that developing a new blockchain is time consuming. As a community we are in a dark space to understand where exactly the development of FX right now.** Zac: We are working hard on creating the testnet and eventually the mainnet. For the latest updates of Function X, what I can encourage you to do is to go on and subscribe to the Function X telegram group where discussions are made. We have formed the Function X Foundation and created the developer relations team, so that the Function X progress will go smoother and with more partnership from outside, whether it’s developers, third party companies, teleco, etc. * **When FX goes live on the mainnet, will FX coin be used to stake and earn NPXS? how will staking work on that new mainnet?** Zac: The NPXS/NPXSXEM staking will last till March 9, 2020 as announced. What we are committed is to create more use cases. For FX tokens, the use cases will be focusing on the Function X Chain and the use cases on Function X that include DApp on Function X and different hardware/software services. * **When fx testnet will be available?** Zac: First I would like to thank you for your constant support. In Q3, we plan to open Function X testnet so that we will be migrating and creating certain use cases that can be used on Function X testnet, starting with our own XWallet. Which means, the XWallet will migrate some features into Function X testnet, and slowly followed by our other Pundi X products, including XPhones, XPASS, Open Platform and Function X own developer related products from third parties.
Yeah, it’s another one of “those”. But honestly, after being in the game for long enough, you end up developing an eye for the good coins. Not the “good” ones, the GOOD ones. Believe it or not, research and common sense is the name of the game!
A little bit more about me: I come from a business & logistics management background. I started investing in cryptocurrencies and trading a little more than six months ago. As a person, I am very detail oriented and I’ve been researching all kinds of cryptos, for hours a day, for the past six months. The more I researched, the more I learned, the more I became hungry for knowledge, and therefore the more i researched. From trading to cryptocurrency basics, their economics, their political implications, the technology revolution they represent, the human psychology aspect as well as emotional trading behaviours (FOMO, FODO, etc.), all of it!
I’ve purchased Ethereum at 150$ (when I first started in crypto). Then NEO back when it was still AntShares and trading under 3$. Gas (Antcoin back then) at 30c, OMG when it was sub-1$, and ETP at exactly a dollar (selling it later at 5$). This was all before I even knew how to do a basic margin trade & was still in the process of learning about crypto (and while tether still had a “reasonable” market cap! LOL)
My approach is pretty simple when it comes to crypto. I split coins into seven main categories:
-Store of Value (BTC) -Payment (DASH, BCH, LTC) -Pure Anonymity and/or Evil Stuff (XMR) -Platform/platform’ish (ETH, NEO, LISK, CARDANO, ETP, Iota, Factom and the likes) -Shitcoins (99% of ERC20 tokens) -Absolute Shitcoins (Boolberry, Embercoin et al.) -Fee Split / Dividend Coins
That last category is my favorite. While I do strongly believe in diversification (10% store of value, 10% payment, 5% anonymity, 25% platform in my case), I always have a “lean” towards coins that make business sense. Coins that derive their value directly from the amount of usage the platform gets (Factom, for example). Coins such as NEO, BNB, Kucoin, Coss, ICN, TenX and the likes, basically coins that either have a direct “dividend-paying” property (NEO generating gas, Kucoin/Coss awarding holders with a % of the exchange’s trading fees) or an indirect “dividend paying” property such as BNB, ICN, TenX using quarterly profits to buy back their own coins and burn them, thus raising the value of the rest of the coins in circulation over time.
Now let’s look at market caps of these direct and indirect “dividend” coins.
Neo: 2.3B TenX: 246M Binance: 200M Iconomi: 155M Kucoin: 44M (68M at ath, not too long ago) Coss: 5M
You see that odd one there with only 5M market cap? Yeah. That’s the great buy right now. That’s the x10, x20 or even x30 that most people haven’t realized yet. That’s also the “dividend coin” you can scoop a ton of while it’s on the cheap, and make massive recurring revenue from as the exchange solidifies and evolves.
What is COSS? COSS stands for Crypto One Stop Solution. They’re a Singapore based cryptocurrency exchange with an amazing team that’s currently expanding. They aim at becoming the “One Stop” solution for crypto, meaning A) an exchange, B) a payment gateway for merchants to accept crypto payments, and probably sometime in the future C) crypto debit/credit cards. They offer their own coin (COSS coin), and holders of this coin receive 50% of the trading fees generated by the exchange (more on this later).
Now, what a lot of people still don’t realize in crypto, you don’t invest in the bigger market cap coins expecting to make a killing (“the moonshot”). Sure, they’ll bring you nice long term growth as the whole market matures, and that’s where you want to diversify and solidify your portfolio, solid coins with a purpose. But what if you want more thrill? An actual opportunity to “moon”? You find a project that makes business sense, that has at least a working product, and a good team. Buying NEO at 2.5B market cap? You missed the boat, it was a dollar a few months ago and already went x60 (“mooned”), and now stabilized at roughly x38. OMG had it’s x10-15 already. BNB as well. Their market caps are big, and a lot of buying needs to happen to even double in price.
Antshares (NEO) back then was a steal at 1, 2 and 3$. It was a huge risk, with huge rewards. They didn’t even have a product other than their blockchain. No dApp running or even being built on it, no english resources to even figure out how to code on it and deploy a smart contract, no marketing, hell we didn’t even know if Da Hongfei was still alive. All it was is a Chinese based smart contract platform, with an innovative dBFT concensus algorithm. It was a 100M market cap coin that early adopters believed in, and essentially invested in when it was not much more than a website and a blockchain. Look where it’s at now, with more than a dozen dApps being built on it, a solid team of roughly 10 devs, with the NEO council also funding City of Zion (team of 20+ NEO devs). NEO has grown into an incredible community, and is now launching coding dApp contests left and right, with the latest one in partnership with Microsoft china & offering half a million dollar’s worth in prizes.
NEO holders get rewarded with GAS on a daily basis. When NEO gets further adoption, all fees such as registering an asset, deploying a contract, changing an asset, etc. will be redistributed to NEO holders as well on a pro rated basis. Only transaction fees are not, as those will go out to MasterNodes. If you got yourself a thousand NEO’s back when they were a dollar or two a piece, you’re now generating 7 gas per month. That’s roughly 161$ USD per month, on a recurring basis, at current gas prices, out of a 1000$ investment. That’s a whopping 16.1% PER MONTH on original investment, and not even counting the fact that you pretty much made 37000$ profit on the NEO’s themselves. Today? Well, you gotta dish out 38000$ to buy a thousand neos and make 161$ per month, basically bringing you 0.4% per month on original investment.
Same with bitcoin. Early adopters that got it at pennies. It just hit $10K USD a piece. For every 30 cent spent purchasing bitcoin in 2009, you’d have $10K USD in the bank account. Invested 3$? 100K. Invested 30$? 1M.
Ethereum? From a dollar to half a grand now.
Moral of the story? Early adoption pays off. History repeats itself, and it will continue to do so. Bitcoin was digital money for nerds, ethereum was a cool project that nobody really gave a crap about until they got EEA which showed credibility (early adopters of eth had a great vision, I’ll give them that!). Neo was chinese vaporware. What do they all have in common? Their.Early. Adopters. Made. A. Killing.
Look where they stand now. Look where a lot of coins stand now. Even a lot of ERC20 tokens that don’t even really have a reason to exist have market caps over 100M. And for what? They don’t reward you with anything other than price increasing because more people buy (greater fool theory)? They don’t reward you with dividends from the project/platform itself? Their value isn’t derived directly from the amount of usage it gets (a la Factom, PaulSnow you genius.)? They still don’t even have a minimum viable product to show? When you ask yourself why does it need a coin, and the answer is either “uhh…” or “oh it grants you voting rights” (that nobody gives a crap about, let’s be honest), you should reconsider your investment strategy. Cause I can tell you a lot of people don’t know what the hell they’re doing, and they’d be better off diversifying in the top 5 or 10 coins and holding than investing in the shitcoinfest that crypto has become.
And that’s why COSS is a pretty buy right now. You’re investing in a platform that’s already up and running, not a whitepaper or vaporware. Hell even Eth and Neo were riskier investments for early adopters. Let’s go over the cons first:
It’s ugly. The UI sucks. It doesn’t have API’s yet, meaning there’s no bots to create liquidity, and therefore low volume. It’s been fudded to death by KuCoin shills (and their referral links you’ve seen everywhere a month ago). Charts are horrible
That’s about it. Whenever you read up about coss, those are the cons you’ll find. But what about the pros? Well, all of this is in the process of being fixed, as we speak.
Singapore has lax laws about cryptocurrencies and issued a statement it does not feel the need to regulate them. It’s securing exclusive ICO’s already despite being a tiny exchange, and has mentioned being able to secure from 4 to 6 per month. The team listens to the community’s feedback and takes it seriously. This is Gold. One of the first things they were criticized about was trying to do too many things at once (an exchange, a payment gateway, a full one-stop solution for crypto, etc.) and they’ve taken the community’s advice and decided to focus solely on the exchange for now and build it properly, before branching out to the rest. “Better excel at one thing and build from there, than be mediocre at multiple things at once” Also following community feedback, they are implementing trading promotions “a la Binance”. Part of the total supply of COSS tokens will be donated to charities (the community votes to who they go). First of all, that’s just plain nice. Secondly, I find it pretty damn cool that we donate this for good causes, and they basically keep “generating” income from it. It’s basically like a “perpetual donation” on behalf of COSS and all of its users, and definitely will make a lot of people feel good about using the exchange. Thirdly, this pretty much guarantees millions of COSS tokens are going to be in perpetual “HODL” mode, essentially taking them off the market. They will be implementing a FIAT gateway sooner than later. We all know FIAT gateways are game changers. They are constantly hiring. The team growing is definitely a good sign. They are revamping the overall UI and charts, once again following the community’s advice, and the proposed new look is fantastic! Check it out here, as well as other great announcements: https://medium.com/@runeevensen/coss-io-7379b7628d93EDIT: It has been brought to my attention that there is a UI upgrade scheduled for tomorrow (Dec. 3rd), although it isn't clear if it's a minor one or the actual major overhaul, might wanna keep an eye out on that! They are upgrading the matching engine and releasing API’s soon to allow bots to create liquidity and significantly raise the trading volume. Unlike KuCoin, the revenue split (COSS token holders) will always receive 50% of the fees, whereas kucoin will start decreasing it in 4-6months and it will bottom out at 10-15% The revenue split from trading fees is controlled by a DAO, meaning the COSS team cannot arbitrarily decide to change it later down the line, unlike KuCoin where the control over the fee split is centralized and they decrease it as they please. The DAO model also avoids it being labeled a security. First of all, those aren’t really “dividends” as dividends would require them to calculate income minus expenses to determine profit, and then distribute this profit to shareholders, and obviously that’s a legal nightmare. With the DAO model, you don’t get a percentage of the “profits”, you get a revenue split from the exchange fees, and it’s done by clicking a “distribute” button which makes a call to the smart contract and distributes your coins. COSS itself is not giving you anything COSS is still in Beta. It has a tiny market cap. Now’s the time to pick it up, not when it’s out of beta and has become successful, or you’ll be in another Antshares/NEO situation. A ridiculously small move from 5M to 50M in Mcap and that’s x10, a move from 5M to 150M (still under binance levels) and that’s x30. In the long run, COSS aims to be more than just an exchange. Holders of the token, who currently get 50% of the exchange’s trading fees, will also get 50% of other fees charged from coss. This includes their eventual payment gateway. Merchants around the world wishing to accept crypto payments will be able to use COSS’s gateway and COSS will charge a 0.75% fee per transaction. We, as COSS holders, also get 50% of that. You believe crypto is the future and going mainstream? Well your COSS will entitle you to the revenue generated by tens of thousands, if not hundreds of thousands of businesses accepting crypto payments via COSS Point-Of-Sale. COSS also mentioned that all other COSS “fee generating” products to come will all be subject to the same DAO/50% split. Logically, If they have 1) The trading platform, and 2) the payment gateway, then the third step is solving the problem of spending the crypto in places that don’t accept direct crypto payment, AKA a crypto credit/debit card. Well, guess what? Users of such cards will be charged a small fee as well when their crypto is being converted to fiat in real time for payment at a gas station. We as COSS holders are, again, getting 50% of that fee. As you can see, this is a coin that makes business sense to invest in. Unless you really, reaaaaaally care about a coin being the “Future of decentralized prediction markets” or “the future of decentralized dating” or the “decentralized gambling coin” and whatnot. Smart money is smart. It's only a matter of time before savvy investors discover this coin.
ALTHOUGH, keep in mind, the calculations above take into consideration an average trading fee of 0.2% and while this fee is accurate right now, it will most likely average 0.1% once API’s are released and liquidity/market maker bots start operating on the platform. Also, the calculations above do NOT take into consideration that in 4 years from now, there will be 200M (hard cap) COSS tokens on the market. HOWEVER, these calculations also do not take into consideration that by then, COSS will have a fully up and running payment gateway, crypto credit cards, and other revenue-generating products such as a crowdfunding platform, smart contract deployment platform, etc. that are also generating revenue for COSS holders.
All in all, if all goes as planned, the payment gateway/cards/other products will negate the additional COSS tokens released in the market as well as the average trading fee of 0.1%, and therefore the numbers presented in the excel docs will remain sensibly the same. Also, if crypto really takes off in the mainstream, then the revenue split to coss holders from the payment gateway & credit card spending could very well double, triple or quadruple all the numbers you’re seeing in these excel sheets, and that’s on the low end. Remember, the exchange only charges 0.2% (0.1% average once we have bots) out of which we get half, but the payment gateway on the other hand charges a flat 0.75% (7.5x the what the exchange’s fee), out of which COSS holders get half. This could be a massive revenue driver, easily surpassing the exchange itself, and honestly if at that point in time this coin is NOT valued at 3B+ (I mean, even ethereum classic is over that right now..), then I’ll just give up on the whole notion of logical thinking.
Quick example, assuming in 4 years 50M in gateway processing daily (18B yearly), 0.375% of that would be 187.5K USD daily for COSS holders. With 200M Coss tokens total supply, if you hold 10K coss you’d generate 9.375$ per day (65$ per week, 282$/mo.), and that’s purely from the gateway (totally excluding the exchange revenue, crowdfunding revenue, credit card revenue, etc.).
If you have 100K coss you’d generate 93.7$/day, 650$/week, 2820$/mo, again purely from the gateway.
If you’d rather assume more conservative figures (let’s say 25M in daily gateway processing on COSS, all around the globe, or 9B yearly), then simply divide these figures by half. If you wanna go balls to the walls, double them (100M daily, 36B yearly). Play around, have fun with the numbers! To keep things in perspective, square has processed 50B’s worth of transactions in 2016. Therefore I believe using 9B, 18B and 36B for our calculations isn’t too far fetched, and actually pretty reasonable.
Anyway, to sum this up, no matter how you look at it, COSS is an extremely promising project with huge potential, and actually has working math (and a working beta!) behind it. It’s only a matter of a month or two before they’re out of their Beta, have upgrades to their UI and engine, and start really growing from there. The team listens to the community, which is super important, and they’re working on a multitude of revenue streams, out of which not only them, but all coss holders will benefit from, fifty fifty.
Their crowdfunding platform will be a competitor to indiegogo, gofundme, kickstarter, and they’ll have a small percentage fee (50% of which goes to COSS holders). The crypto Point-Of-Sale will be a competitor to Square and the likes (50% revenue to COSS holders). The crypto credit card (also 50% revenue to COSS holders). It is truely an admirable project. Shovel manufacturers made a killing during the gold rush, and COSS is positioning itself as the shovel manufacturer in the crypto adoption gold rush. This is a coin that makes sense to invest in, it is ultra tangible, and will give greater returns than any type of “decentralized [insert function here]” type coins.
On a personal note: Honestly, I believe this is the proper way to ICO, by NOT giving people worthless tokens that only go up in value due to speculation (looking at you, 99% of ERC20 tokens). Let investors guide you, let them reap 50% of the rewards as THEY are the ones funding you. This’ll keep the investors interested in the project, and every single one of them will have a direct incentive to vouch for your product. It’s only right for the investors to get rewarded with something tangible, I’d take that any day over a speculative shitcoin who’s only purpose was to put money in the project’s founders pockets
Quoted directly from said link:“For those that are most interested in discussions regarding the trading price of COSS. Please have in mind that when we entered our token sale, our clear sales message was a 3–5 year road-map, and not a 3–5 months pump and dump. We are a small team, doing our utmost to deliver and all we ask is for you to continue to give us feedback and also for you to give us some time to deliver. *That being said. We still aim to be out of BETA as soon as possible with a new engine for the exchange in Q1 2018. New UI should be in place well before that.** Once we feel we have this in place we will roll out massive marketing campaigns to attract users and increased volume. So although we have a 3–5 year road-map ahead, you should expect to see 2018 being “our year”. The 3–5 year plan is more on the complete roadmap when we proudly can call ourselves a one-stop solution. For now it is all about the exchange, and there we will see rapid changes over the coming weeks/months.”*
All in all, i’d like to thank the COSS team for actually caring about their investors, keeping them in the loop, listening to their feedback and giving them a unique and tangible opportunity. I’d also like to thank all the other COSS investors, who see a huge potential in this project and support the team, and lastly, all of you crypto-heads for reading through!
Happy hodling, and hopefully see you all at 500M+ market cap by late 2018 :)
-Some random guy on Reddit.
PS: Not investment advice. Always do your due diligence. Also, if you’d like, you can join the discussion at /cossIO
Friendly reminder: ETH is the quickest way to get your funds on the COSS exchange, and COSS/ETH pair has 4x the volume of the COSS/BTC pair.
Weekly Update: Mycro on ParJar, PAR on MetaMorphPro, new customer for Resolvr, 1UP on IDEX... – 19 Jul - 25 Jul'19
Heya everyone, looks like we are in for another round of rapid catch ups on the weekly updates. Haha. Here's another exciting week at Parachute + partners (19 Jul - 25 Jul'19): In honour of our latest partnership with Silent Notary, this week we had an SNTR Parena. Richi won the finale to take home a cool share from the 1.5M SNTR pot. The weekly Parena had a 100k PAR pot. McPrine took home the lion’s share by beating Ken in a closely fought finale. In 8 months since ParJar started, we are now at 12k users, 190k transactions and 200+ communities. Cap says: “…to put it into perspective - June 18th we were around 100k transactions and 9 k users. A month later we’ve added 3k new users (33% growth) and 80,000 new transactions”. Freaking amazing! And thank you for the shoutout aXpire! MYO (Mycro) was added to ParJar this week. And their community started experiencing the joys of tipping. Lolarious work by @k16v5q5! Last week MetaMorphPro did a Twitter vote to list new projects. Turns out Parachuters did PAR a solid. Woot woot! The first ever official TTR shirt is already live in the Parachute shop. Alexis announced the start of a shirt design contest to add to the TTR shirt inventory. Ian’s art quiz in TTR this week saw 25k PAR being given away to winners. Victor’s quiz had another 25k PAR pot for the winners. And Unique’s Math quiz in TTR was a 50k PAR extravaganza. All in all, 100k PAR won in quizzes in TTR this week. Sweet! Cryptonoob (Tom) set up a survey this week for “..for people who are interested in Crypto but don't know where to start..” for his work on the Parachute app UX. We all know how much Gian loves the reality show Big Brother. So we saw a new take on his Tuesday fun events. Mention your favourite reality show and what it’s all about to get some cool PAR. Yay! A PAR coaster makes its way from design to final product in @k16v5q5’s workshop Chris’ Golf tourney contest resulted in no winners since there were no correct guesses. So he decided to give out fun prizes instead: like Jason for coming last, Win for a “hilariously bad guess” of 100 strokes for the champions total score etc. Haha. However, there were a few top prize winners as well. LordHades, with a tournament score of 1968, took home 50k PAR as grand prize. Neat! Ali, Hang, Clinton and Tony came in close at 2nd to 5th positions. Congrats! And with that, Chris announced the start of another contest: Premier League Challenge for Parachuters (Entry code: x0zj2d) with an entry fee of 5000 PAR each. Prize pool yet to be announced. Jason is still in the lead this week in the Big Chili Race at 47 cm. Not much change either in the other plants. Slow week at Chili land. Ric getting in on that sweet Parachute merch Last week we shared that AXPR got listed on Binance Dex. The ERC20-BEP2 conversion bridge went live this week. Learn how to convert your ERC20 tokens to the BEP2 variant from the available how-to guides (article/video/gif). To mark the occasion, aXpire gave away a ton of BNB in an easter egg contest plus a 1% AXPR deposit bonus to folks who started using the bridge. Remember, we had mentioned that the reason for the weekly double burn of AXPR will be revealed this week? Well here it is. Resolvr onboarded a new client: HealthGates. More fees, more burn. Read more about it here. Woot! Victor hosted a trivia like every week on Friday at aXpire for 1000 AXPR. 10 questions. 100 AXPR each. Nice! Catch up on the week that was at aXpire from their latest video update. 2gether was selected as one of the top 100 most innovative projects by South Summit this week. Cryzen now built a Discord-Telegram chat bridge so that anything posted in either platform gets cross posted on the other. The latest WandX update covers the dev work that’s been going on for the past few weeks – support for Tezos wallet, staking live for Tezos, Livepeer and Loom etc. 2gether on South Summit’s honour roll BOMB community member rouse wrote a quick script on how to identify and avoid common crypto scams. Have a read. As BOMB says, “Stay vigilant and always verify”. Last week's giveaway for the top lessons shared by entrepreneurs had so many good entries that the final list was expanded to 19 winners. Awesome stuff! Zach’s latest article on the difference between BOMB and BOMBX explores both the basic and the more complex distinctions. Switcheo’s introductory piece on hyperdeflationary tokens also talks at length about the BOMB project. Zach also announced the start of the Telegram Takeover Challenge this week – get new communities to experience ParJar and BOMB and earn some cool BOMB tokens in return. Win win! In preparation for the integration of the SMS feature in the Birdchain app, the team released an article on some key statistics. Here’s a video from Birdchain CEO Joao Martins discussing the feature. The latest Bounty0x distribution report can be found here. Also, check out a shoutout to the platform in this NodesOfValue article on bounty hunting opportunities. Start of beta testing for SMS feature in Birdchain The ETHOS Universal Wallet now supports Bitcoin Cash and Typerium. Following ETHOS’ listing on Voyager, it will also become the native token on Voyager. Switch continued its PR campaign with cover pieces on Yahoo, CCN and DDFX this week. Altcoin Buzz has a section on its site named “Community Speaks” where members of a crypto community share updates on a project they support. This week, Fantom was featured in this section. V-ID is the latest project using Fantom’s ERC20-BEP2 bridge for listing on Binance Dex. Big props to FTM for opening it up to other projects. FTM got listed on Probit and Airswap. FTM can also now be used as collateral for borrowing on the Constant platform. The Fantom Foundation joined the Australian Digital Commerce Association which works on regulatory advocacy in blockchain. This was also a perfect setting for the Fantom Innovation Labs team to attend the APAC Blockchain Conference in Sydney. Here’s a report. In this week’s techno-literature, have a read of the various Fantom mainnets and the TxFlow protocol by clicking here and here respectively. Another proposed token utility of ETHOS Uptrennd’s 1UP token was listed on IDEX this week. To put it simply, the growth at Uptrennd Twitter has been explosive. Check out these numbers. Awesome stats! This free speech vs fair pay chart shared by Jeff explains why the community backs the platform. About 96% of 1UP issued this week has been used to level up on Uptrennd. Want a recap of the latest at Uptrennd? Click here. Crypto influencer Didi Taihuttu and his family (The Bitcoin Family) joined the platform this week. Congrats once again to Horizon State for making it to the finals of The Wellington Gold Awards. Some great networking opportunities and exposure right there. If you have been lagging behind on HST news, the latest community update covers the past month. We had also mentioned last week that Horizon State is conducting a vote for The Opportunities Party in New Zealand. Here’s a media report on it. Catch up on the latest at District0xverse from their Weekly and Dev updates. The Meme Factory bot was introduced this week to track new memes and marketplace trends on Meme Factory. The HYDRO article contest started last week was extended to the 27th. 50k HYDRO in prizes to be won. Noice! Hydrogen got nominated as a Finalist to the 2019 FinXTech Awards. HYDRO was also listed on the HubrisOne wallet this week. And finally, here’s a closer look at the Hydro Labs team. The folks who make the magic happen. Sup guys! The Parachute Big Chili Race Update – Jason at 1st, Sebastian at 3rd And with that, we close for this week at Parachute and partners. See you again with another weekly update soon.
Weekly Update: 10k ParJar users, PAR on Mercatox, BOMB Announcement, FTM on OKEx... – 28 Jun - 4 Jul'19
Hiya folks! With this update we will be totally caught up with the latest Parachute weekly. Whew! Told ya it will be fun. Thanks for sticking by. Here’s your week at Parachute (28 Jun – 4 Jul’19): ParJar crossed 10k users this week (with 120k total transactions till now). The growth is real! PAR got listed on Mercatox as well. The first Cex listing. Woot! Remember how well researched Benjamin’s BOMB metrics reports were? You are in for a treat. He made a deep dive report on the PAR token metrics as well. Enjoy! CoinsOnFire’s review of Parachute is out too. Have a read! Cap’s Parachute journey article was translated to Spanish by Roberto. The milestone items for July are pargas, new projects, more coverage. Cap announced a competition to design a logo for the Parachute News/Announcement channel. Tons of solid entries. 300k PAR were given out to the top picks. Pedro’s logo was simple yet clear in its message and was the winner of the comp with it becoming the Ann channel logo. Great work on the logos, guys! These look super fresh Ice and Chris rocking that Parachute swag The latest ParJar feature allows you to see price of any coin/token/USD/CAD/EUGBP/PLN/RUB amount to another coin/token/USD/CAD/EUGBP/PLN/RUB. So if you want to see price of 5000 PAR in AXPR or USD, just type /convert 5000 PAR AXPR or /convert 5000 PAR USD. Try it out in PM with the bot. Ketan won this week’s Parena and laid claim to the lion’s share of the 100k PAR pot. Victor’s trivia this week in ParJar was on Animals. 10 questions, 50k PAR. Dayum! Ian hosted an art quiz in ParJar as well. Another 50k PAR given out. The OG Parachute items were finally phased out of the parachute shop this week. Check out the latest gear that arrived in the shop. The Big Chili Race Standings as on 2-July Alexis receiving one of the last shipments of the OG gear aXpire submitted its proposal to be listed on Binance Dex this week. The 100k monthly AXPR burn can be tracked here. Weekly update video is up as well. Have a look. Co-Founder of Huddl, Vishal Karir, wrote about BOMB as deflationary gold in an article on scarce assets. Jason Choi, researcher at The Spartan Group, talked about two "fascinating & underexposed economic experiments in crypto" in a tweet thread this week. One of them was BOMB. Benjamin’s latest BOMB Report is out as well. You can also watch him elaborate on it in this video. Remember, the BOMB video contest that has been ongoing for a few weeks now? Here’s a compilation of 100 submissions. The winners have been selected. A new market stats dashboard will be going live soon. And finally, don’t forget to mark your calendars for July 15th. Zachary will be announcing the next big step for BOMB. This chart from Benjamin’s report seems to back up BOMB’s core idea Horizon State was featured in the blockchain showcase series by Micky News with a detailed background on the project and where they are heading. HST got added to the FlashCoin mobile wallet and its P2P marketplace. The Hydro Pay app’s official video was released this week. Plus, check out the latest app updates here, here and here. The project was also covered in a publish0x article about 3 promising projects in H2 2019. HYDRO has taken the lead in a vote-for-listing competition to get listed on ChangeNOW. Read more about DeFi and how Molecule is a positive force in the DeFi space in Hydro’s article. In District0x-verse, read up on the latest from the District Weekly. Meme Factory’s newest meme contest is underway. Hearthstone fans, don’t forget to catch the gameplay recording of Game of Memes (which uses Meme Factory assets for game cards). Project Manager Alexander wrote about the journey of Meme Factory so far in his blog article. Meme Factory's dankest meme as of 4th July :p Fantom’s FTM token was listed on OKEx, OKEx Korea and Bittrex International this week. If you’ve been living under a rock for the first half of 2019, CMO Michael Chen’s got your back. His half yearly recap article covers all things Fantom. Michael's presentation at ZKLux#1 was featured in Sikoba's blog post. PaperCoins’ review of Fantom was published this week. Check it out! The team also had an AMA with the latest partner, Xangle. Click here for the transcript. Opacity (and Hydro Pay) were added to dApp browser on dapp.com. June recap for Opacity was out this week. Bounty hunters, have a read of the weekly Bounty0x distribution report. Bloom partnered with the platform to provide Bloom verified accounts for Bounty0x users. Bloom verified accounts are more trustworthy and hence get access to higher value bounties compared to unverified accounts. Bloom takes data privacy seriously 1UP will be seeing a major burn of its tokens in the near future. Read more about the updated tokenomics here. Another project will get a chance to be reviewed in detail for free by Uptrennd. Voting started this week. Have a question to ask Enjin CTO Witek Radomski? Uptrennd will be interviewing him soon and your question could make it to the interview. The ETHOS Universal Wallet turned 1 this week. Happy Birthday! Switch’s press releases went live simultaneously on Reuters, The Merkle, Bitcoin PR Buzz, Coinspeaker, Blockmanity and ZyCrypto. ESH was listed on Mercatox and ZooomEx. One of the coolest features on Switch is the option to buy gift cards with altcoins. Catch up with the latest at Switch from their update article. In Birdchain news, get an early preview of the of the SMS feature on the app and its testing snapshots. Details of the 2gether referral program were released this week. Here’s a link for Spanish speakers. And with that, it’s a wrap for the rapid catch up series and for this week at Parachute. Thank you again for being here and God Bless Parachute! See you again with another update. Ciao!
https://preview.redd.it/6in97egosnx31.png?width=800&format=png&auto=webp&s=d2e4d1b052b295cb3da49f604fab7a6113321210 I wrote this lecture on the methodology of successful trading, and more specifically on tactics, strategies, subtleties and recommendations, based on 2 years of work on Bitmex, Binance, Gate, Okex bitcoin cryptocurrency exchanges in real combat conditions. Guided by this technique, I managed to earn 500% in excess of the deposit for 7 days of trading (i.e. I increased the deposit amount by 5 times!). These are not fairy tales, but reality, that is, confirming statistics of exchange transactions on the account of the crypto-exchange.
I believethat the knowledge provided in this course will help a beginner tomaster successful tradingonly if the course is not only read, but also outlined. It will be important to follow punctually, commenting on your actions in your notes.
In separate consultations, I could give personal instructions on the nuances of technical analysis on various timeframes, signals on entry points, information on trade automation software (algorithmic trading robots), and other tools useful in the work of a trader. But, despite a lot of additional software, my experience has shown that the most effective speculation model on the cryptocurrency and stock exchange, which everyone chooses for themselves based on practical experience, is directly in the online trading mode on exchange terminals. Each exchange is good in its own way, but also has its drawbacks. I chose the best solution for myself and am sure that this is temporary. Perhaps in the future there will be more progressive decentralized exchanges with good liquidity and they will replace the existing platforms managed by market leaders. Various digital designations, such as: — in what percentage of the deposit do you enter into a particular transaction; — where to put stop limit or market (Market) (market) orders (and whether to place them at all), where to exit the transaction and how. Again, I note that all the selected values are usually individual and depend both on the time trading intervals (TimeFrame) (1m 3m 15m 1h 3h 4h 6h 1 d 1w 1m) and on the deductible amount of the bet in % percentage of the amount of your deposit. It is important to remember that trading in the cryptocurrency market is a high-risk investment activity that everyone chooses and carries out at their own risk. Remember that with a big bet on the whole, as they say, a patty, and even with 100x-500x leverage, you risk losing your entire deposit right away. An exchange machine or a well-tuned and trained professional broker robot does not cost anything to go against the trend with a tidbit — easy prey. Do not be hamsters i.e. naive simpletons — do not merge the deposit into zero due to elementary greed, incontinence, ardor and other factors that contradict the qualities that a professional trader needs to succeed in trading, namely: cold-bloodedness, endurance, accuracy, punctuality, tact, quick reaction , the ability to quickly enter numbers and timely press the desired buttons.
You ask me: “Hey … guy, you are so smart … I wonder how much you earned from trading or how much you earn or why you don’t do it yourself … why do you need competitors?” — I will answer you: it is no secret that AI (artificial intelligence) has been working on the exchange for a long time and it is constantly improving, but this still does not prevent a person from continuing to beat him. I hope that in the future this trend will not stop otherwise — we have disappeared. And as regards competition — do not worry so much for me, because there is still a trading idea, program or terminal that I have not yet implemented and not reported in this guide after its publication and, perhaps, it will not deprive me of future trading opportunities.
So, the instructions that I follow in the process of trading cryptocurrencies on the exchange terminal in online mode.
It is necessary to wait for the moment of the entry point. You need to enter the deal only then, you feel it and foreseen it in advance according to the levels of the daily period.
It is necessary to carefully weigh their capabilities, ie to consider funds, understanding that futures trading (with leverage) leads to greater risks of liquidation / margin call (MarginCall).
During growth, you need to fix profit and try to sell at a pullback. It is always possible to re-enter a deal, but it is unlikely to return lost profits, instead, you can get several hours of dead weight in the price movement opposite from the planned direction.
It is very important to have cost control, namely, the timely Stop Limit (stop trade order) + sliding Stop Loss (the same thing, only with insurance against a sharp price movement).
It is easy to understand the wave component and accept the movement by levels — press exit buttons in time at 2% and + 10% according to the 1 to 5 principle (we risk one part of the deposit against 5). The Pareto effect has not been canceled: 20% activity, gives 80% effectiveness.
To work with Japanese candles, the ability to draw support levels and resistance lines is enough, but this is not enough for a professional, because the presence of modern advanced indicators, such as MACD, SRSI, Ichimoku Cloud / Signal, horizontal and vertical volume indicator and so on, is very important. Everyone chooses for themselves the indicator that brings more profit to a certain trading range. But remember — the main criterion for success is an understanding of the laws of the market and trade by market. Perhaps this applies to the field of extrasensory perception, metaphysics, and other obscure and hard to prove phenomena and sciences, but one way or another — intuition is clear and has a place to be.
In no case should you enter into short-term breakthrough deals on minute trading with market uncertainty. The situation where minute fluctuations may seem like reversal movements is often quite misleading. If you are in a pose (bull — for growth / long or bear — for fall / short) do not retreat and the market will not slow you to please you with profit. Often, a stock price feed / the same chart manipulates the minds of players, displaying false breakdowns and minute movements, on the basis of which you can not rely on a trend change (this lie is especially evident in minute time intervals / timeframes). In such cases, make decisions only at fundamental levels. On the hourly chart you will see a more truthful picture, because globally, on markets other than minute timeframes, the market is less susceptible to momentary manipulations. This knowledge will give you firmness in the intention and decision-making to remain in the chosen position and not to respond to minor market manipulations. During the day, you may repeatedly wish to unreasonably enter into such transactions, but remember that in this case you will be guaranteed to drain the deposit. Remember — the market from the middle of the trend will go up up or down and hit the stop limit order placed by you (if you play with a large leverage not for your money), after which it will go in the right direction you have chosen. Although in general the situation is banal — you are led by the nose like thousands as well as you. The only true method is to use common sense and avoid uncertainty when trying to enter a pose. A historical analysis of prices, the frequency of ranges (delta) of ups and downs, the degree of volatility and fundamental approaches — to help you. I also want to add that success is in your hands and it consists in the realization of the need not to merge a deposit under any circumstances.
You cannot leave the market unattended, the alarm of the price change alarm is not in your favor or without a stop limit at a reliable exchange platform (broker).
Once again I repeat, you must be prepared in advance for the fact that the market is deceiving and unexpected movements can often occur and your task is to secure your funds with a stop on the market or to fix profit by a floating stop or a fixed stop limit.
Risk management — the basis of success in trading when trading with leverage (margin trading). It is usually recommended to go into a deal at 2% of the deposit with x leverage and stop from profit in the ratio of 1 to 5. What does this mean and why is this risk / profit sharing technique so important?It is necessary to clearly calculate probabilistic lumbago in order to avoid elimination. I recommend you not to rush into bets, but to take a sheet of paper and bargain virtually in order to understand whether your calculations were correct. A virtual game is worth nothing, but it will save you money and keep the deposit safe and sound.
The wave theory assumes entry into the transaction after completion and a clear change in the previous trend based on signals and the news background, incl. experience of the current subject of trade — the operator pushing the buttons. For example, in the absence of price movement in the direction of the RSI indicator, analysis of all time frames with indicators, fibonacci levels, correction degree phase, time of day in time zones, stock and commodity market readings.
It is important, before starting trading, test the presence of a manipulator on the market using the method of high rates. If you are looking for an entry into a major deal in a few weeks, keep in mind that a stop with a loss can be a significant amount in the money equivalent that you are ready to lose, and if the deal does not take place in your favor, you must set yourself up in advance for what it should be. Because a successful trader is not one who regularly guesses successful transactions, but one who successfully completes one out of five transactions according to risk management and the calculation of the leverage calculator in accordance with the chosen strategy.
A lost position can be closed without waiting for the reverse restoration of the bidding process, thus manually participating in the balance adjustment or by setting a stop limit order in advance or after the bid in case of further decline or growth.
There is an assumption that at the end of the working day, with a likely depreciation, traders convert stocks into fiat (money), which contributes to a depreciation, but this is not accurate)
Incorrect entry into the transaction. How important is it to exit an unsuccessful transaction as early as possible or at the first rollback to change the direction of the trend or wait to determine a new entry point.
The presence of two accounts on the exchange terminal is possibleand desirable in order to be able to remain in a winning position regardless of the success of the initially selected trading direction (a technique requiring careful verification by personal experience with a clear definition of the margin leverage and % of the entry into the transaction from the deposit balance to minimize the risk of loss).Successful trading does not consist in the ability to conclude as many successful trades as possible, but in minimizing losses.
Technology is improving and strategies are changing. Before entering a transaction, it is necessary to carefully analyze the current market situation using a comparative analysis, studying the general news background (guided by the ***“buy for expectations — sell on the news”***postulate), detecting a flat (sideways), determining the level of instrument volatility (gold, oil, funds , bitcoins / cryptocurrencies — digital coins, etc.)
Immediately put a stop — is a guarantee of success or a drain of the deposit? After all, how to cope with their own feelings and not get into anxiety about a successful or unsuccessful transaction? The gradual entry scheme works well.
Coins. We look at the trading delta with the help of a robot scanner and make a decision based on all the above criteria in the course. It has been noticed that amateurs buy coins in the hope of growth. Remember, the market for altcoins is not growing now.
A favorable time for earning is at the time of a flat, which usually occurs after the rising flag or the implementation of a bull pennant figure, etc. It will be more clear to observe the schedule in real mode and make the required notes in your own mind.
On the cryptocurrency market, some laptop microprocessors are heated and the fan turns on at peak times. This indicates the beginning of a sharp movement and is a signal to enter the deal. Therefore, you can not only observe the behavior of the market, but now also listen (this is my personal note, it is unlikely that you will find such information somewhere else, as they say — an exclusive / VIP signal;)).
You can still write a lot about time, how much can or should be spent on the monitor, on which timeframes to trade and which strategies to follow, but everyone should choose this independently and preferably, under the guidance of a specialist, because what is applicable to one is to the other — contraindicated.
In fact, any market situation should be beneficial for you due to successful risk management*!*For successful online trading, it is very important to use candlestick and technical analysis*, which help to more accurately determine the entry point to the transaction (purchase or sale).*You cannot act at random when the market is hard to predict and often ready to follow your footsteps.If you lose, then I do not recommend immediately going to recoup*, because trade should ultimately be break even. In ardor, you are likely to enter into an unsuccessful deal and lose even more than before. This situation will make you very sad, so do not make this mistake. She is famous.*Use amodern powerful laptop or desktop computer with a convenient side numeric keypad, a large screen and a convenient manipulator (mouse)so that when you press the buttons you have as little physical braking and stops as possible.Practice in advance to work in the browser on the exchange terminal without making a deposit on futures trading from the exchange wallet. This training practice will reduce your losses.
Hello from Ukraine, Kramatorsk city ( “War is peace / freedom is slavery [and] ignorance is strength.”) Reslav Cryptotrader (if you need find me look around — me be i near ;). To be continued… http://twitter.com/reslav1 P.S.: Nowadays, money strives to be counted more and more. Using the information technology of databases with indexes, it has become possible to automatically and instantly capture and display the information that was previously collected by entire departments of the state within a month and after manual entry was displayed on the screens of industrial monitors and public television. The era of the Internet has come, the time of the accessibility and decentralization of information. Today we see stock chart quotes of stock prices of leading world companies online. Everyone has the opportunity to invest their money in these stocks and earn on the difference in exchange rates of their value. A speculative market was formed on this basis, where leaders appeared who were able to act most efficiently and, accordingly, earn money. Many specialists are studying the nature of success in speculative markets. Many works on methods of achieving success in trading are morally obsolete due to the emergence of new technologies for calculating and controlling the money supply, for example, such as Bitcoin. After all, back in 2009 for 1309.03 BTC they gave 1 dollar. Today 1 BTC costs $ 9,000. This is due to the fact that since the appearance of bitcoin has never been hacked and the technology has shown its reliability and consistency, as a measure of the money invested in it. I will not go into the details and subtleties of Bitcoin technology, but I will note one thing — this is cryptographic software that was used in the banking sector as Swift payments, but transformed into a P2P peer-to-peer network of private computers, as a result, like Bittorent, it became public, hard controlled, commons. Bitcoin provides for a complexity bomb, which complicates each year, and therefore makes it more expensive, its limited production, and this is one of the main reasons for its rise in price. As well as the fact that Bitcoin is convenient for storing funds, as it is liquid and it can be easily sent without quantity restrictions and with high transaction (transfer) speed. All details about Bitcoin are available in open sources and you can find out everything about it on the Internet, as well as the alternative coin market (altcoins / coins), such as Ethereum, USDT (dollar tokens confirmed by a US company with real dollars in bank accounts) etc. Around this market of bitcoin cryptocurrencies, the same speculative matrix (network / exchange) arose as around ordinary currencies and created such a strong competition for traditional assets that many governments adopted it and began to use and implement technologies that arose in their turn base. Cryptocurrencies or blockchain (cryptographic chain / blocks / chain) began to be introduced in public sectors of the economy for calculating and controlling public commons, such as electricity, land, etc. Further, on the basis of this market, the need for regulation arose and the US authorities were very worried about the uncontrolled development of technology, on the basis of which a news background (negative or positive) arose, which powerfully affects cryptocurrency rates. In the era of information, this network began to act as a money pump, skillfully pumping money from the hands of inept speculators into the pockets of experienced traders. As a result of reading a lot of books, watching various telecasts in the industry of bitcoin trading analytics, I came to the conclusion that successfully trading cryptocurrencies is akin to art and as statistics have shown, only 20% in 2–3 years are able to consistently earn money, and of which, in turn, only 2 -3% become billionaires. I bring to your attention a technique by which you can enter the ranks of these 20% successful traders and possibly, jointly, open the door to those notorious 2–3% successful traders who are fortunate enough to touch the notorious golden fleece and discover the world of unlimited financial opportunities. All knowledge is available in open sources and collected by me in the book “Basics of Bitcoin Trading from Reslav” (2019), most of them are available.
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