Putting $400M of Bitcoin on your company balance sheet
Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots. A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC). Today we'll discuss in excrutiating detail why this is not a good idea. When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust. However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:
Is Bitcoin money?
No. Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves: 1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own. As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get. You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there? 2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile. If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point: 3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away. For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast. On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC While the dollar loses value at a predictible rate, BTC is all over the place, which is bad. One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy. If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due. Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.
BTC has a fixed supply, so these problems are built in
Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense. Having control over supply of your currency is a good thing, as long as it's well run. See here Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well. Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money. Let's look at a classic poorly drawn econ101 graph The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand. Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control. It's also a national security risk... The story of the guy who crashed gold prices in North Africa In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca. He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade. This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.
Currencies are based on trust
Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged? The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president. People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all. It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board. For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government." The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.
BTC is not gold
Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value. How do we know that? Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan. Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well. Some people are puzzled at this: we don't even use gold for much! But it has great properties: First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment. Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials. Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans. It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods. To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that. On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Means of Exchange: if people seriously start using BTC to buy pizzas, then this creates a real demand for the currency to accomplish the short-term exchanges. As we saw previously, I'm not personally sold on this one and it's currently a negligible fraction of overall demand.
Criminal uses: Probably the largest inbuilt advantage of BTC is that it's anonymous, and so a great way to launder money. Hacker gangs use BTC to demand ransom on cryptolocker type attacks because it's a shared way for an honest company to pay and for the criminals to receive money without going to jail.
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.
BTC is really risky
One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds. But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:
A critical software vulnerability is found in the BTC codebase, leading to a possible exploitation.
Xi Jinping decides he's had enough of rich people in China hiding their assets from him and bans BTC.
Some form of bank run takes hold for whatever reason. Because BTC wallets are uninsured, unlike regular banks, this compounds into a Black Tuesday style crash.
Blockchain solutions are fundamentally inefficient
Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science. That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale. The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
BTC was estimated to use as much electricity as Belgium in 2019. It's hard to trace where the BTC mining comes from, but we can assume it has a huge carbon footprint.
A single transactions is necessarily expensive. A single transaction takes as much electricity as 800,000 VISA transactions, or watching 50,000 hours of youtube videos.
There is a large necessary tax on the transaction, since those checking the transaction extract a few BTC from it to be incentivized to do the work of checking it.
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
The Reddit Bake-Off, Reddit-wide tokenization, and where NANO fits in the future of digital exchange.
I first learned about Bitcoin from a person I met at an interview in late 2017. My primary interest was Bitcoin, but at the time I saw how much profit early Ethereum adopters yielded and I envied them for finding such a successful project in its early stages. My first investment in cryptocurrency was Litecoin. I was attracted to the fact that, although it was essentially the same as Bitcoin, it was faster and slightly less expensive. I dove in and I got rekt. As time went on I began to do research on different coins. I found Binance and started exploring alts. I'd look at the Binance chart, pick a coin, Google it, read their whitepaper (since I didn't understand the code, eventually I just judged a whitepaper by its aesthetic), and ultimately I would end up on their subreddit. That's how I found CryptoCurrency. At some point in my journey, a new wave of confidence entered the market. People started talking in the Daily about a new coin that appeared on some weird exchange whose named I had never heard. They said it was instant and free and that it was the absolute epitome of what Bitcoin was meant to be. Countless users suggested this coin would absorb the entire market cap of Bitcoin. Its name was strange, RaiBlocks (XRB). I had bought in around $20 at the time the price went from $0-38 in a couple of weeks. Everyone was enthusiastic about the bull run, but it was the technology and its potential for worldwide application that people were excited about most. Welp, some bad press and a couple of years later and we are now in the depths of obscurity and any mention of NANO in the Daily on CryptoCurrency, the same sub that birthed its popularity in the first place, is chastised. I sadly watched as NANO lost its clout and with it its price. Eventually, BrainBlocks died, which was my favorite project of all, and I exited completely. I even removed NANO from my watchlists because I knew if I saw it I would buy back in. NANO fell off my radar entirely for about 4 months while I dove head first into DeFi. However, last night I saw the charts looking favorable for a breakout, so I re-entered. Then today as Bitcoin pumped and every other alt dumped, NANO miraculously jumped. I figured the trading bots still oddly tie NANO to Bitcoin and after seeing NANO as the only successful coin in a sea of red, I came back. I also thought maybe the developers knew something we didn't, and the price was increasing before something big was about to happen, but that's just wishful thinking. Right now, the most exciting corner of the cryptocurrency space is far and away the fact that Reddit is now heavily involved in the future of cryptocurrency integration:
As an experiment, Reddit has begun given tokens to posters/commenters at two subreddits for upvoted content: Moons and Bricks at CryptoCurrency and FortNiteBR, respectively.
A user was even able to bridge Moons and Bricks to equivalent tokens on the xDai Network (xMOON and xBRICK), and are literally tradable. For example, I earned 425 moons last month and I bridged them to xMOON and traded them for ETH on Honeyswap. I earned ERC-20 tokens from Reddit, bridged them to another network, and sold them. This, ladies and gentlemen, is not only the beginning of the tokenization of Reddit. This is going to be the beginning of tokenization of everything. NANO is faster and feeless. An infinite number of blockchains can be created on the block lattice. A community member even generated a Moons to NANO converter, right? My question is: Is it possible for NANO to bridge ERC-20 and ERC-677 tokens from the Ethereum network to NANO sidechain equivalents. Fore example, NANOETH, NANOLINK, etc.? Why can't NANO participate in the Bake-Off and develop a protocol that bridges NANO and other tokens via sidechains? Is it possible to create a token for every single subreddit and have them run simultaneosly the NANO network? Why isn't NANO in the discussion for this and why haven't we entered the Bake-Off? Is this not the best use case for NANO and the best place to implement the protocol? To be quite honest, I am back because I think NANO will succeed in some way and I imagine the developers have a plan for marketing with the next hype wave in cryptocurrency. However, if that is not the case, then this project is missing a serious opportunity to become a part of perhaps the single most important incoming disruptor in the cryptocurrency space and economics, err, soon-to-be tokenomics of our society. People once thought this coin would absorb the entire market cap of Bitcoin, but it's been 3 years and other projects have gained traction and now the spotlight is on Ethereum. Yes, there will never be another coin as fast or as free as NANO, but there needs to actually be use for it for it to become valuable and have a place in the future. Thanks for reading! tl;dr - Reddit is tokenizing all subreddits and is actively hosting a competition in order to try to find the solution to Ethereum scaling, called the Bake-Off. I want to know if it is possible for NANO to participate in the Reddit Bake-Off and use its protocol to tokenize Reddit.
Future of cryptocurrencies? [all alts are staying low after the bubble; what will happen in the future?]
I am a content marketer and writer, and I used to write about crypto around 2 years ago. Then I migrated into writing about SEO and digital marketing.
I currently have the customer who wants me to write extensively about cryptocurrencies. I love this niche a lot, and I am currently migrating back into writing about it.
However, I am seeing that all alts are staying at the same level - at pretty much very low levels, as compared to the peak level during the bubble stage - without any major changes after the bubble burst. At the same time, I am seeing that BTC is going through some kind of the bigger cycle of its own, i.e. it hasn't gone back to 1K or something like that, i.e. it moves its standard cycle and it hasn't gone as low as other alts have.
The customer wants me to write about all things about cryptocurrencies (exchanges, wallets, trading strategies, mining, mixers, etc.), and I am into this. But the point is that alts aren't showing the upward movements, and I am feeling that I am entering a pretty decaying niche here (but the customer pays good money as this is my day job here). At the same time, I am very interested in this niche, and I might want to start trading cryptocurrencies in a couple of months (like, daily trading, with the budget of 100$ and good money management (i.e. I will not invest more than 100$ and I will have good stop losses and take profits - if I fail, I fail)).
it's just that I am feeling that I am missing a certain important piece of the picture here as to explaining to myself why the alts haven't come back. What is this stage that the alts are currently going through? Are people still buying physical wallets, going on exchanges and using crypto-related services? Or, is the niche not active at all?
PSA: Enable Tor as a simple way to make your node reachable.
Become one of the 10% of node operators that receive incoming connections. Installing bitcoin core is easy, and with pruning it really isn't the space sink it is characterized as. Even a modest computer can complete the initial block download (IBD) and become a full node. But what some users (90%) find a bit more challenging, is how to become a listening node. Listening nodes are an important part of the network, and are simple enough to enable. I can think of 4 ways to do it:
Operate on an OS and Network that support uPnP, allowing bitcoin to open the ports for you.
Subscribe to a VPN that allows you to open ports through their service.
Manually configure your OS and network to forward port 8333 and 18333.
Run Tor and direct bitcoin to listen through it.
I'll discuss #4. Obviously #1 or #2 are easier, but require a VPN subscription or uPnP enabled HW. And if you live in a dorm or don't control the network, Tor may be the only free option available. As a bit of background, bitcoin supports three networks that your node can listen on:
IPv4 - This is the "legacy" internet that most are used to
IPv6 - A not so new upgrade allowing trillions of addresses instead of billions
Tor) - A privacy network allowing encrypted traffic to remain anonymous
Obviously, the more you enable, the better, but here are the basic steps for Tor in broad strokes. If you have any questions post them here and I'll see if we can't help you out:
Record the hostname: type .\HiddenService\hostname as
Add the bitcoin.conf options suggested below
Restart the bitcoin-qt program
(Optional) Activate the bitnodes crawler at https://bitnodes.io/nodes/-8333/
It may take a while for your node to show up on bitnodes. I've found the check button sometimes has trouble with onions. Of course you don't need to do it, but it can provide a simple way to check status once your on the list.
torrc file: (replace c:\windows with the proper path as needed)
Change to C:\Windows\ServiceProfiles\LocalService\AppData\Roaming
Log notice file \tor\service.log
Bridges may be needed if the Gov't shuts down Tor exit nodes. Get Bridges by
DDDD - The Rise of “Buy the Dip” Retail Investors and Why Another Crash Is Imminent
In this week's edition of DDDD (Data-driven DD), I'll be going over the real reason why we have been seeing a rally for the past few weeks, defying all logic and fundamentals - retail investors. We'll look into several data sets to see how retail interest in stock markets have reached record levels in the past few weeks, how this affected stock prices, and why we've most likely seen the top at this point, unless we see one of the "positive catalysts" that I mentioned in my previous post, which is unlikely (except for more news about Remdesivir). Disclaimer - This is not financial advice, and a lot of the content below is my personal opinion. In fact, the numbers, facts, or explanations presented below could be wrong and be made up. Don't buy random options because some person on the internet says so; look at what happened to all the SPY 220p 4/17 bag holders. Do your own research and come to your own conclusions on what you should do with your own money, and how levered you want to be based on your personal risk tolerance. Inspiration Most people who know me personally know that I spend an unhealthy amount of my free time in finance and trading as a hobby, even competing in paper options trading competitions when I was in high school. A few weeks ago, I had a friend ask if he could call me because he just installed Robinhood and wanted to buy SPY puts after seeing everyone on wallstreetbets post gains posts from all the tendies they’ve made from their SPY puts. The problem was, he actually didn’t understand how options worked at all, and needed a thorough explanation about how options are priced, what strike prices and expiration dates mean, and what the right strategy to buying options are. That’s how I knew we were at the euphoria stage of buying SPY puts - it’s when dumb money starts to pour in, and people start buying securities because they see everyone else making money and they want in, even if they have no idea what they’re buying, and price becomes dislocated from fundementals. Sure enough, less than a week later, we started the bull rally that we are currently in. Bubbles are formed when people buy something not because of logic or even gut feeling, but when people who previously weren’t involved see their dumb neighbors make tons of money from it, and they don’t want to miss out. A few days ago, I started getting questions from other friends about what stocks they should buy and if I thought something was a good investment. That inspired me to dig a bit deeper to see how many other people are thinking the same thing. Data Ever since March, we’ve seen an unprecedented amount of money pour into the stock market from retail investors. Google Search Trends \"what stock should I buy\" Google Trends 2004 - 2020 \"what stock should I buy\" Google Trends 12 months \"stocks\" Google Trends 2004 - 2020 \"stocks\" Google Trends 12 months Brokerage data Robinhood SPY holders \"Robinhood\" Google Trends 12 months wallstreetbets' favorite broker Google Trends 12 months Excerpt from E*Trade earnings statement Excerpt from Schwab earnings statement TD Ameritrade Excerpt Media cnbc.com Alexa rank CNBC viewership & rankings wallstreetbets comments / day investing comments / day Analysis What we can see from Reddit numbers, Google Trends, and CNBC stats is that in between the first week of March and first week of April, we see a massive inflow of retail interest in the stock market. Not only that, but this inflow of interest is coming from all age cohorts, from internet-using Zoomers to TV-watching Boomers. Robinhood SPY holdings and earnings reports from E*Trade, TD Ameritrade, and Schwab have also all confirmed record numbers of new clients, number of trades, and assets. There’s something interesting going on if you look closer at the numbers. The numbers growth in brokers for designed for “less sophisticated” investors (i.e. Robinhood and E*Trade) are much larger than for real brokers (i.e. Schwab and Ameritrade). This implies that the record number of new users and trade volume is coming from dumb money. The numbers shown here only really apply to the US and Canada, but there’s also data to suggest that there’s also record numbers of foreign investors pouring money into the US stock market as well. However, after the third week of March, we see the interest start to slowly decline and plateau, indicating that we probably have seen most of those new investors who wanted to have a long position in the market do so. SPX daily Rationale Pretty much everything past this point is purely speculation, and isn’t really backed up by any solid data so take whatever I say here with a cup of salt. We could see from the graph that new investor interest started with the first bull trap we saw in the initial decline from early March, and peaking right after the end of the crash in March. So it would be fair to guess that we’re seeing a record amount of interest in the stock market from a “buy the dip” mentality, especially from Robinhood-using Millennials. Here’s a few points on my rationalization of this behavior, based on very weak anecdotal evidence
They missed out of their chance of getting in the stock market at the start of the bull market that happened at the end of 2009
They’ve all seen the stock market make record gains throughout their adult lives, but believing that the market might be overheated, they were waiting for a crash
Most of them have gotten towards the stage of their lives where they actually have some savings and can finally put some money aside for investments
This stock market crash seems like their once-in-a-decade opportunity that they’ve been waiting for, so everyone jumped in
Everyone’s stuck at their homes with vast amounts of unexpected free time on their hands
Most of these new investors got their first taste in the market near the bottom, and probably made some nice returns. Of course, since they didn’t know what they were doing, they probably put a very small amount of money at first, but after seeing a 10% return over one week, validating that maybe they do know something, they decide to slowly pour in more and more of their life savings. That’s what’s been fueling this bull market. Sentiment & Magic Crayons As I mentioned previously, this bull rally will keep going until enough bears convert to bulls. Markets go up when the amount of new bullish positions outnumber the amount of new bearish positions, and vice versa. Record amounts of new investors, who previously never held a position in the market before, fueled the bullish side of this equation, despite all the negative data that has come out and dislocating the price from fundamentals. All the smart money that was shorting the markets saw this happening, and flipped to become bulls because you don’t fight the trend, even if the trend doesn’t reflect reality. From the data shown above, we can see new investor interest growth has started declining since mid March and started stagnating in early April. The declining volume in SPY since mid-March confirms this. That means, once the sentiment of the new retail investors starts to turn bearish, and everyone figures out how much the stocks they’re holding are really worth, another sell-off will begin. I’ve seen something very similar to this a few years ago with Bitcoin. Near the end of 2017, Bitcoin started to become mainstream and saw a flood of retail investors suddenly signing up for Coinbase (i.e. Robinhood) accounts and buying Bitcoin without actually understanding what it is and how it works. Suddenly everyone, from co-workers to grandparents, starts talking about Bitcoin and might have thrown a few thousand dollars into it. This appears to be a very similar parallel to what’s going on right now. Of course there’s differences here in that equities have an intrinsic value, although many of them have gone way above what they should be intrinsically worth, and the vast majority of retail investors don’t understand how to value companies. Then, during December, when people started thinking that the market was getting a bit overheated, some started taking their profits, and that’s when the prices crashed violently. This flip in sentiment now look like it has started with equities. SPY daily Technical Analysis, or magic crayons, is a discipline in finance that uses statistical analysis to predict market trends based on market sentiment. Of course, a lot of this is hand-wavy and is very subjective; two people doing TA on the same price history can end up getting opposite results, so TA should always be taken with a grain of salt and ideally be backed with underlying justification and not be blindly followed. In fact, I’ve since corrected the ascending wedge I had on SPY since my last post since this new wedge is a better fit for the new trading data. There’s a few things going on in this chart. The entire bull rally we’ve had since the lows can be modelled using a rising wedge. This is a pattern where there is a convergence of a rising support and resistance trendline, along with falling volume. This indicates a slow decline in net bullish sentiment with investors, with smaller and smaller upside after each bounce off the support until it hits a resistance. The smaller the bounces, the less bullish investors are. When the bearish sentiment takes over across investors, the price breaks below this wedge - a breakdown, and indicates a start of another downtrend. This happened when the wedge hit resistance at around 293, which is around the same price as the 200 day moving average, the 62% retracement (considered to be the upper bound of a bull trap), and a price level that acted as a support and resistance throughout 2019. The fact that it gapped down to break this wedge is also a strong signal, indicating a sudden swing in investor sentiment overnight. The volume of the break down also broke the downwards trend of volume we’ve had since the beginning of the bull rally, indicating a sudden surge of people selling their shares. This doesn’t necessarily mean that we will go straight from here, and I personally think that we will see the completion of a heads-and-shoulders pattern complete before SPY goes below 274, which in itself is a strong support level. In other words, SPY might go from 282 -> 274 -> 284 -> 274 before breaking the 274 support level. VIX Daily Doing TA is already sketchy, and doing TA on something like VIX is even more sketchy, but I found this interesting so I’ll mention it. Since the start of the bull rally, we’ve had VIX inside a descending channel. With the breakdown we had in SPY yesterday, VIX has also gapped up to have a breakout from this channel, indicating that we may see future volatility in the next week or so. Putting Everything Together Finally, we get to my thesis. This entire bull rally has been fueled by new retail investors buying the dip, bringing the stock price to euphoric levels. Over the past few weeks, we’ve been seeing the people waiting at the sidelines for years to get into the stock market slowly FOMO into the rally in smaller and smaller volumes, while the smart money have been locking in their profits at an even slower rate - hence an ascending wedge. As the amount of new retail interest in the stock market started slowed down, the amount of new bulls started to decline. It looks like Friday might have been the start of the bearish sentiment taking over, meaning it’s likely that 293 was the top, unless any significant bullish events happen in the next two weeks like a fourth round of stimulus, in which case we might see 300. This doesn’t mean we’ll instantly go back to circuit breakers on Monday, and we might see 282 -> 274 -> 284 -> 274 happen before panic, this time by the first-time investors, eventually bringing us down towards SPY 180. tldr; we've reached the top EDIT - I'll keep a my live thoughts here as we move throughout this week in case anyone's still reading this and interested. 5/4 8PM - /ES was red last night but steadily climbed, which was expected since 1h RSI was borderline oversold, leaving us to a slightly green day. /ES looks like it has momentum going up, but is approaching towards overbought territory now. Expecting it to go towards 284 (possibly where we'll open tomorrow) and bouncing back down from that price level 5/5 Market Open - Well there goes my price target. I guess at this point it might go up to 293 again, but will need a lot of momentum to push back there to 300. Seems like this is being driven by oil prices skyrocketing. 5/5 3:50PM - Volume for the upwards price action had very little volume behind it. Seeing a selloff EOD today, could go either way although I have a bearish bias. Going to hold cash until it goes towards one end of the 274-293 channel (see last week's thesis). Still believe that we will see it drop below 274 next week, but we might be moving sideways in the channel this week and a bit of next week before that happens. Plan for tomorrow is buy short dated puts if open < 285. Otherwise, wait till it goes to 293 before buying those puts 5/5 6PM - What we saw today could be a false breakout above 284. Need tomorrow to open below 285 for that to be confirmed. If so, my original thesis of it going back down to 274 before bouncing back up will still be in play. 5/6 EOD - Wasn't a false breakout. Looks like it's still forming the head-and-shoulders pattern mentioned before, but 288 instead of 284 as the level. Still not sure yet so I'm personally going to be holding cash and waiting this out for the next few days. Will enter into short positions if we either go near 293 again or drop below 270. Might look into VIX calls if VIX goes down near 30. 5/7 Market Open - Still waiting. If we break 289 we're probably heading to 293. I'll make my entry to short positions when we hit that a second time. There's very little bullish momentum left (see MACD 1D), so if we hit 293 and then drop back down, we'll have a MACD crossover event which many traders and algos use as a sell signal. Oil is doing some weird shit. 5/7 Noon - Looks like we're headed to 293. Picked up VIX 32.5c 5/27 since VIX is near 30. 5/7 11PM - /ES is hovering right above 2910, with 4h and 1h charts are bullish from MACD and 1h is almost overbought in RSI. Unless something dramatic happens we'll probably hit near 293 tomorrow, which is where I'll get some SPY puts. We might drop down before ever touching it, or go all the way to 295 (like last time) during the day, but expecting it to close at or below 293. After that I'm expecting a gap down Monday as we start the final leg down next week towards 274. Expecting 1D MACD to crossover in the final leg down, which will be a signal for bears to take over and institutions / day traders will start selling again 5/8 Market Open - Plan is to wait till a good entry today, either when technicals looks good or we hit 293, and then buy some SPY June 285p and July 275p 5/8 Noon - Everything still going according to plan. Most likely going to slowly inch towards 293 by EOD. Will probably pick up SPY puts and more VIX calls at power hour (3 - 4PM). Monday will probably gap down, although there's a small chance of one more green / sideways day before that happens if we have bullish catalysts on the weekend. 5/8 3:55PM - SPY at 292.60. This is probably going to be the closest we get to 293. Bought SPY 290-260 6/19 debit spreads and 292-272 5/15 debit spreads, as well as doubling down on VIX calls from yesterday, decreasing my cost basis. Still looks like there's room for one more green day on Monday, so I left some money on the side to double down if that's the case, although it's more likely than not we won't get there. 5/8 EOD - Looks like we barely touched 293 exactly AH before rebounding down. Too bad you can't buy options AH, but more convinced we'll see a gap down on Monday. Going to work on another post over the weekend and do my updates there. Have a great weekend everyone!
Syscoin Platform’s Great Reddit Scaling Bake-off Proposal
https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44 We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution! Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality. Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining. This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.
Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.
Syscoin + Matic Integration
Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both. Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.
Total cost for these 100k transactions: $0.63 USD See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing: ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37) Syscoin price: $0.11 Snapshot of live fee comparison chart Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions. Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.
Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.
The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms. The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.
Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.
Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).
Unique fee-market that is more efficient for microtransaction redemption and settlement
Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
Provides high throughput and secure fulfillment even if blocks are full
Probabilistic and interactive
99.9999% security assurance within 10 seconds
Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.
Syscoin 3.0 White Paper (4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
SHA256 merge mined with Bitcoin
UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
Z-DAG on asset layer, bridge to Ethereum on asset layer
On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.
Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask. Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2. Current supported wallets Syscoin Spark Desktop Syscoin-Qt
10-07 17:06 - 'There's no need for the hassle of peer to peer unless you need anonymity. It's actually pretty easy, I found buying Bitcoin easier (not to mention far more profitable) than contributing to the Roth IRA I set up. / **Bitcoin...' by /u/paperraincoat removed from /r/Bitcoin within 0-7min
''' There's no need for the hassle of peer to peer unless you need anonymity. It's actually pretty easy, I found buying Bitcoin easier (not to mention far more profitable) than contributing to the Roth IRA I set up. Bitcoin 101 Show the wife a chart of Bitcoin versus the S&P500 over the past ten years. Buy small amounts of Bitcoin off of a reputable exchange, and transfer them to a hardware wallet ([Trezor]1 , [Ledger]2 , [Coldcard]3 ) that you (and you alone) have the seed for. Wait for each amount to clear to your wallet before buying again. Wait years, at least a halving cycle, which has historically seen 10-20x returns. Ignore the drama, 60% price crashes, exchanges hacked, China outlawing it, wanna-be shitcoin forks, 'we're the next Bitcoin' altcoins claiming they're a worldwide blockchain learning computer or whatever and governments telling you it isn't safe, or too volatile and that you should totally switch back to the fiat we printed $5 trillion of this year alone, no, inflation shouldn't be a problem because (hand waving Keynesian technobabble) etc. To sell, transfer small amounts back to the exchange, and again, make sure they clear in your bank account before transferring again. Pay your taxes. Pay off your house, travel, take up golfing, i.e. retire in comfort. ''' Context Link Go1dfish undelete link unreddit undelete link Author: paperraincoat 1: w*llet**re*or*io/#/ 2: s*op.*e*ge**com/p*o*ucts/ledg*r-na*o*s 3: cold*ardwal*e*.co** Unknown links are censored to prevent spreading illicit content.
09-28 23:05 - 'Online Degree™ in Cryptocurrency & Trading (Blockchain Council)' (self.Bitcoin) by /u/lwilson747 removed from /r/Bitcoin within 0-7min
''' Crypto colleagues, this Online Degree™ in Cryptocurrency & Trading is an online program with the provision of concise and effective comprehension of Cryptocurrency & trading. Cryptocurrency is a global phenomenon that has been proved as a revolutionary headway in the journey of currency evolution. Skill-based training modules include: Introduction to Blockchain (private vs public), 2) Introduction to Bitcoin (units, purchasing, regulations, mining, block explorer, forks, variations, trading, vocabulary, peer to peer network), 3) Introduction to Cryptocurrency (anatomy, famous cryptocurrencies, pricing, mine cryptocurrencies, ICOs, trading, psychology, tools & platforms, chart analysis, Candlestick charts, market predictions), 4) How to Trade (exchanges, secure wallets, ERC20 tokens, risk & rewards, trend analysis), 5) Online Degree and Trading Exam (100 question exam, 60% score needed to pass, 3 attempts, manual assistance available). Enroll today at: [link]1 Much career success, Lawrence E. Wilson - Cryptocurrency. Blockchain and FinTech Academy (CBF) ''' Online Degree™ in Cryptocurrency & Trading (Blockchain Council) Go1dfish undelete link unreddit undelete link Author: lwilson747 1: fxo*c**9mPx Unknown links are censored to prevent spreading illicit content.
09-26 01:25 - 'Looking For 1 More Person To Join Our Trading Mastermind Group.' (self.Bitcoin) by /u/Bensetera removed from /r/Bitcoin within 0-9min
''' Hi I am looking to fill 1 out of 5 spaces in a day and swing trading Mastermind group. For some information on Mastermind groups check out this link: [link]1 . The Mastermind series will be a set of 10 meetings of 1.5 hours each once a week. The series will run from the 13th of October until the 15th of December. At this stage the meetings are tentatively scheduled for Tuesdays at 6:30pm - 8pm (AEDT) At the meetings each member of the group will get 15 minutes allocated to them to use as they wish. The goal of the meeting will be to get honest feedback and to provide accountability towards working towards your trading goals. I have experience in running a Mastermind group not related to trading for several months. If you are interested, the requirements to join the Mastermind group will be to commit to attending the Mastermind meeting each week. It would need to be a priority in your calendar. Some optional activities that will be organised during the series as the need for them arises are:
Group market analysis.
Discussions about fundamentals.
Deep dive into record keeping systems.
Group trade analysis.
Group strategy troubleshooting.
Risk management analysis.
Occasional social / fun events.
The way the meetings and group will be organised will be with a google drive, slack and the meetings will be hosted on Zoom. We can help you get used to any of these programs, they are easy to use. As long as you have a basic understanding of trading and reading candlestick charts I would encourage you to apply. The main thing you will need is a desire to become a full time profitable trader. If you are only testing out the idea of being a trader this group might not be for you. Either comment below or Pm me with the below template. Expression of interest template: Name: Country: Time Zone: How much experience you have in trading: What you trade: Additional comments: --- Example expression of interest: Name: Ben. Country: Australia. Time Zone: AEDT (GMT+11). How much experience you have in trading: 5 Months. What you trade: Cryptocurrency spot and futures. Mostly BTC, ETH, ADA, LTC, ATOM, XTZ, ETC, LINK, THETA. Additional comments: I have been trading as a team with 1 other person for the last 5 months. We have been meeting 5 days a week for those 5 months. Working together has been really beneficial for us. We hope that you will experience the same benefits that we have enjoyed. ''' Looking For 1 More Person To Join Our Trading Mastermind Group. Go1dfish undelete link unreddit undelete link Author: Bensetera 1: ww*.t*esuc**ssa***ance.com/wh*t*is-*-**stermi*d-group* Unknown links are censored to prevent spreading illicit content.
09-07 17:55 - 'Bitcoin Market— Week of 09/07/2020' (self.Bitcoin) by /u/Coinviva removed from /r/Bitcoin within 573-583min
''' [ ]1 BTC/USD hourly chart The Bitcoin price had a volatile week, which started off with reaching $12,000 and then quickly dived to $10,000 within 2 days, as the stock market experienced a big drop in the beginning of September. The BTC price settled at around $10,250 the moment. As seen in the hourly chart, a sideway channel has formed and there is some support at $10,000, possibly due to profit taking by the short sellers. If the BTC price becomes volatile again and drops below $10,000, it would indicate a bearish market and could test the next support level, which is at $9,000. Disclaimer: The above market commentary is based on technical analysis using historical pricing data, and is for reference only. It does not serve as investment or trading advice. [link]2 ''' Bitcoin Market— Week of 09/07/2020 Go1dfish undelete link unreddit undelete link Author: Coinviva 1: *re*i*w.r**d.it/fjy*27*tool51.png?wid*h*1149*amp;f*rm*t**n*&*auto=web*&a**;*=03b3c8782*08*072f*318f48*d1*56c*4*d0***b 2: p*eview.*edd*it/*6*ytzb*p*l*1.*p**width*260*am*;*orma*=*jpg&*mp*auto*web*&a*p;s=b9*42f50*f8f**0f4e76efdb96**e0dbee7*b*a3 Unknown links are censored to prevent spreading illicit content.
09-03 06:47 - 'Bitcoin Market— Week of 08/31/2020' (self.Bitcoin) by /u/Coinviva removed from /r/Bitcoin within 4179-4189min
''' [ BTC/USD hourly chart ]1 Last week, the Bitcoin price bounced to $11,847, which formed a lower high compared to the previous week. It then dipped to $11,137 and formed a double bottom two days later. It slowly climbed to $11,600 and resumed the upward trend after breaking the resistance at $11,600. The current price is at $11,724. If the BTC price is able to hold above $11,600, it has a chance to break above the previous high at $11,847 and test $12,000 again. The chart indicates that there is a strong support near $11,150 where the double bottom pattern was formed. Review of the week： Hayden Adams, the founder of the decentralized trading protocol Uniswap, tweeted that Uniswap’s 24-hour trading volume was higher than Coinbase for the first time in history. Uniswap’s 24-hour trading volume was US$426 million while Coinbase Pro’s 24-hour trading volume was US$348 million. Crypto analyst Joseph Young commented that it is unbelievable that who would have thought a year ago that a decentralized exchange (DEX) would exceed the trading volume of Coinbase. The explosive growth of DeFi in the past year is inseparable from the greed of human nature. YFI founder Andre Cronje at this year’s Smart Contract Summit said: “the reason there is such a massive influx of money right now is because people are making money in insane amounts, and people are snapping up and selling governance tokens (assets designed to allow people to make decisions on DeFi protocals) to promote the explosion of DeFi. However, this is not the sustainable development part of DeFi. When the “greedy phase” is over, valuable protocols in the DeFi field (such as Synthetix, Compound and Chainlink) will still exist.” Disclaimer: The above market commentary is based on technical analysis using historical pricing data, and is for reference only. It does not serve as investment or trading advice. [link]2 ''' Bitcoin Market— Week of 08/31/2020 Go1dfish undelete link unreddit undelete link Author: Coinviva 1: pre*iew*r*dd.it/s34*1***yak51.png?***th=*150&fo**at=*n**am*;**t**webp&*=5e2*ab0378e61e**75c8*2268*9*3def66d9*6*e 2: pr*vie***edd.*t*nrce0*4v*a*51*png?w*d**=*00*amp**o*ma*=p*g*amp;auto=we***a*p;s=2*38f5dc0d33*823ba16952*7fd021**d6a647e9 Unknown links are censored to prevent spreading illicit content.
08-31 07:46 - 'You can use a p2p exchange: / [[link]] / Long term price charts are the place to start: / [[link]] / [[link]] / If anyone wants a 17 minute crash course on Bitcoin economics than these 2 articles are excellent- / [[link...' by /u/Leading_Zeros removed from /r/Bitcoin within 504-514min
''' You can use a p2p exchange: [[link]21 Long term price charts are the place to start: [[link]22 [[link]23 If anyone wants a 17 minute crash course on Bitcoin economics than these 2 articles are excellent- [[link]24 [[link]25 If you have a few more minutes read these 2 articles : [[link]26 [[link]27 For the ten-thousand foot view of where Bitcoin fits into the history of money, check out this article series: [[link]28 AUDIO: [[link]29 If you are ready to go down the rabbit hole of knowledge Learn more here – [[link]30 [[link]31 [[link]32 [[link]33 [[link]34 [[link]35 [[link]36 [[link]37 [[link]38 [[link]39 Any questions just ask here or on [BitcoinBeginners]20 ''' Context Link Go1dfish undelete link unreddit undelete link Author: Leading_Zeros 1: ky*n*t.me/ 2: ww**look**to**tcoin.com/**ar**/b**coin-logarit*mi*-gr*wth-*urve/ 3: d*gi*al***n*t/btc/s2fx 4: *edi***com/*jim*y*ong/why*bitcoin**s-differe***e17b**3fd947 5: m*dium*com*@ji*my*ong/why*b*tc*in-w*rks-fe32**9a**f5 6: m*diu*.co*/@vijay**yap**i/*h*-bu**ish-cas*-for-b**coin*6ecc8bdecc* 7: *e**um.c*m/the-*i*coi*-times**itco**-*nd*the-tyranny-*f*t**e-scarc*ty-1d15*0d*d8b0 8: medium*co*/*b*eedl*ve22*money-*****in-and-time-*art-1-of-*-b**6b*03*c0* 9: a*cho*.f*/*he*ryp**conomy*episod*s****ey--Bi*coin-*-Ti*e*--*y-*o*ert*Breedlove-e9avia 10: ww**lopp.***/bitco*n-informa*ion.**ml 11: www.lopp*net/l*gh*nin**inf*rm**ion*ht*l 12: *0ho**so*bitcoin.c*m/ 13: naka*o*o*ns*itute.org*me*poo** 14: wtf*appe**din*971*co*/ 15: *ww.bitco*naudi**ook.co** 16: whatis**ne*.inf*/ 17: *itco*n-r*s***ces.com/ 18: w*w*bitcoin1*1.cl*b* 19: 2*les*ons.*om* 20: ww*.reddi*.*o****BitcoinBeginner*/ 21: ky**o**me/]^^1 22: www.loo**n*obitc*in.c***ch*r*s/bi*c*in-l*ga**thmic-gr*w*h-curve/]*^2 23: digita*ik.*et*btc/*2*x]^^* 24: **d**m*com/@*immy**ng**h*-bitcoin-i**differ*nt-*17b81*fd947]^^4 25: me**um.com/@**m*ysong/w**-bitcoin-*orks-fe328*9***f5]*^* 26: *e*i*m.com/@vija*boy*pati/the*bulli*h-c**e*for-bit**in-*ecc8*d**c1**^6 27: med*um*co**th*-*i*c*in-time*/bitc*in*a*d-t**-ty*anny-o*-tim**scarc*ty*1*1550*fd8b0]^^7 28: me**u*.com**b*e*dlove22/m*ney-*itc*in-and-tim*-*art*1-o****b4f6bb036**4]^^8 29: a*ch*r.*m/*hecryp*ocon*my/epis****/M*ney--Bitc**n---T*me---by-Ro*er*-Bre*dl**e-e9avi**^^* 30: w*w.lopp.net/b**c**n-i*fo*mation.h*ml]^**0 31: *ww.lop*.net/lightni*g-i*f*r*at**n.**ml]^*11 32: *0h*u*sofbitco*n.com/]^*1* 33: n*ka**t**nst*tute.org/memp*ol/]**13 34: *tfh*ppene*i**971.c*m/*^^14 35: *ww*b*tcoina*di*bo*k*com/]*^15 36: w*at*smon*y*i*fo*]^^16 37: bi*c*in*re*ources.c**]^^17 38: www.bitcoi*1**.clu**^^*8 39: 21l*s*ons.c*m]^^*9 Unknown links are censored to prevent spreading illicit content.
Binary Options Review; Best Binary Options Brokers
Binary Options Review; Best Binary Options Brokers We have compared the best regulated binary options brokers and platforms in May 2020 and created this top list. Every binary options company here has been personally reviewed by us to help you find the best binary options platform for both beginners and experts. The broker comparison list below shows which binary trading sites came out on top based on different criteria. You can put different trading signals into consideration such as using payout (maximum returns), minimum deposit, bonus offers, or if the operator is regulated or not. You can also read full reviews of each broker, helping you make the best choice. This review is to ensure traders don't lose money in their trading account. How to Compare Brokers and Platforms In order to trade binary options, you need to engage the services of a binary options broker that accepts clients from your country e.g. check US trade requirements if you are in the United States. Here at bitcoinbinaryoptionsreview.com, we have provided all the best comparison factors that will help you select which trading broker to open an account with. We have also looked at our most popular or frequently asked questions, and have noted that these are important factors when traders are comparing different brokers:
What is the Minimum Deposit? (These range from $5 or $10 up to $250)
Are they regulated or licensed, and with which regulator?
Can I open a Demo Account?
Is there a signals service, and is it free?
Can I trade on my mobile phone and is there a mobile app?
Is there a Bonus available for new trader accounts? What are the Terms and
Who has the best binary trading platform? Do you need high detail charts with technical analysis indicators?
Which broker has the best asset lists? Do they offer forex, cryptocurrency, commodities, indices, and stocks – and how many of each?
Which broker has the largest range of expiry times (30 seconds, 60 seconds, end of the day, long term, etc?)
How much is the minimum trade size or amount?
What types of options are available? (Touch, Ladder, Boundary, Pairs, etc)
Additional Tools – Like Early closure or Metatrader 4 (Mt4) plugin or integration
Do they operate a Robot or offer automated trading software?
What is Customer Service like? Do they offer telephone, email and live chat customer support – and in which countries? Do they list direct contact details?
Who has the best payouts or maximum returns? Check the markets you will trade.
The Regulated Binary Brokers Regulation and licensing is a key factor when judging the best broker. Unregulated brokers are not always scams, or untrustworthy, but it does mean a trader must do more ‘due diligence’ before trading with them. A regulated broker is the safest option. Regulators - Leading regulatory bodies include:
CySec – The Cyprus Securities and Exchange Commission (Cyprus and the EU)
FCA – Financial Conduct Authority (UK)
CFTC – Commodity Futures Trading Commission (US)
FSB – Financial Services Board (South Africa)
ASIC – Australia Securities and Investment Commission
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Particl Marketplace is a decentralized marketplace for trading goods and services. Every installation becomes an independent node of this network and is helping to distribute it. Payments are made private and anonymous under the aid of its own cryptocurrency named PART. It utilizes CT and RING CT for privacy. Furthermore, it shares the as most secure comprehended privacy technologies from the industry-leading electronic currency Monero and makes its security features available on the Bitcoin codebase. Additionally for the metadata needed to list products and to let users communicate with each other an encrypted protocol named SMSG is utilized. Only corresponding parties are able to decrypt its content. This benefits the marketplace to be able to scale.
Problems Particl Marketplace solves
The use-cases and problems getting solved are multidimensional.
Saving money for its participants
No revenue share fee, no final value fees (sales commissions), no payment processing fees, no subscription fees, no participation fees, no value based listing fees, instant settlement -no retention of payments for vendors
Free markets, no censorship, self governance, no product-listing manipulations
Privacy and security first
No user-data, no data misuse, scam and fraud protection with two-party escrow system, custom storefronts with custom access-rules, protection of supply chains & intellectual property, DDoS protection
Enable untapped markets
Empowering and protecting companies to make OTC (Over the counter) deals with unknown/untrusted business partners of any industry, without the risk of being scammed. Of course this is not limited to companies.
08-24 02:15 - 'I would like to validade an idea' (self.Bitcoin) by /u/Positive_Turbulence removed from /r/Bitcoin within 727-737min
''' Hi, I'm a software developer and I would like to validade an idea and get some feeback from the community regarding a particular website I'm thinking of. Do you think you would use/visit a website that uses artificial intelligence to forecast the price of Bitcoin? Sort of like a weather forecast site, but for crypto. The site would also bring together the latest news and maybe apply some sentiment analysis on the news text, so that you can have a feel of the market for that day at a glimpse without having to dive into heavy technical graphs and charts. Something like this: (mock) [link]1 If you think this is a good idea, would you let me know? Your feedback is very much appreaciated. ''' I would like to validade an idea Go1dfish undelete link unreddit undelete link Author: Positive_Turbulence 1: p*ev*ew**edd.i*/*0uuh*blcri51.pn*?w***h=1**5&*mp;f**ma*=*ng&am*;auto*we*p&*s=*7*f4*52bf14ad4de83cbb***10afe*6*0411aab Unknown links are censored to prevent spreading illicit content.
08-19 18:15 - 'PSA: Watch out for girls from Tinder who like fashion, investing and other random things. HAPPENING TO ME TOO RIGHT NOW :(' (self.Bitcoin) by /u/IfUDontKnowNowUKnow9 removed from /r/Bitcoin within 29-39min
''' This is my first time on reddit so bare with me. I saw this post " [PSA: Watch out for girls from Tinder who like fashion, hiking, investing and other random things.]1 " and thought I'd share what is currently happening to me. The short:The website is Mareix I put $4K in an ICO called GEP ( Genesis Earnings Paction Chain). I have to wait until Oct 15 to withdraw due to a subscribe end countdown. They even have a Whitebook pdf attached to the page. It would of been $5K but I was able to get $1k back by telling them "If this is real then I should be able to get money out that I didn't invest yet". Below is the LONG VERSION on how I got here. I was visiting Las Vegas this past July 2020 and looking on Tinder to see whos around. I found this Chinese girl by "Alisa". We match but don't talk for a week. [link]4 When I get back home to New York, we start sending messages. She is from Hong Kong. She says she used to know a beauty salon and started investing with the help from her Uncle. "I have my own beauty salon and my own investment income". "Before I was a beauty salon, I was a model". I let statements like this slide because I give foreigners the benefit of the doubt. Which in hindsight is dumb because they are expecting that from a dumb American like me. She then tells me she has been to Saipan. Sends me videos of "her" flying a Cessna [\"Alisa\" \"Flying\"]2 She tells me she is 30 years old and ends the conversation with a voice message saying "I'm going to go to bed, see you later". The next day I embarrassingly send her selfies of me with my shirt off but covering my face. "Your figure is good. Do you exercise regularly? When I travel to the United States, you come to protect me" I ask her to send me a picture. She responds "Dear, today my sister is going to have a baby, I will accompany her in the hospital". My first red flag. Who calls each other 'Dear'? I was once talking to a asian girl on google hangouts who turn out to be a Nigerian man.[The scam here was similar, they would build long term correspondence with you and then after a few month tell you they need money for hospital or emergency. But I saw through that one within a few days]. He called me dear a lot. So I started thinking, is this a scam? But what could I be scam for? Next day: Me - Congrats on you becoming an Auntie. Alisa - Hahaha. Today a little prince came to our big family, the sister and child are safe. Me - Do you want to have children? Alisa - Yeah I'm an aunt now. I like children very much. In the future I want a naughty boy and a quirky daughter. [Again, who talks like this? But I stupidly want to believe.] Alisa - I just finished taking a shower, now I turn on my computer and I am ready to view my latest investment trend chart. [and thats how it started] I want to share more but its a lot. If this gets a lot of interest, I'll continue with my naive story. [Which is currently still happening.] But for now I'll add all the photos of "her". Let me know if she looks like anyone. [link]5 [I know for certain this is not her, but it is Saipan.]3 [link]6 [link]7 [link]8 [link]9 [link]10 [link]11 [link]12 [link]13 ''' PSA: Watch out for girls from Tinder who like fashion, investing and other random things. HAPPENING TO ME TOO RIGHT NOW :( Go1dfish undelete link unreddit undelete link Author: IfUDontKnowNowUKnow9 1: old***ddit.com/Bitcoin/comment***u1*4c/*s*_wa*ch_o**_for_gi**s_f*om_*i*d***w*o*like/ 2: *ed*it.com/*in*/i*s**s/vid*o/bih0*sbcvzh5*/pla**r 3: re**i*.com/li*k*i*sb6s*video/zfuf*k*uvzh51/p**ye* 4: *rev**w.redd.it/*9*59*ihvzh*1.jpg?***th=828*a**;**r*at*pjpg&am**aut*=web*&**p;*=918*b82b54bf2*f*d3fde4c199**2d*3cb95d2aa 5: re****.com/lin*/icsb6s/video*tp*9q4*uvz*51/p*a*e* 6: red*it.com/li**/ic*b6s/vi*****uxr*zduv*h51/*layer 7: re*dit*co*/link*i*sb6s*video/g*mw6*l*v*h*1/p*ayer 8: pr*v**w.*edd.*t/uyaeri7qvz**1*j*g?width=*080&a*p;f*rmat=pjpg*amp**ut***eb*&a*p;s***4ce95f*83*f6*5*dac*9f03*bb1ad6b0*58f20 9: prev*e*.re**.*t*8****f7qvzh51*jp*?wid*h=1176&a*p;fo*mat=pjpg&am*;aut*=web*&*mp;s=09**8*4341**02*7da5c8e1f8c5**4b8*40e**97 10: previ*w.redd**t/n*kk7d7q**h51*jpg*w*d*h=1080&a*p;forma*=*j***a*p;*uto=*ebp**mp;s=f11**66*52df63*65f1f**7aa2c*dbea240*5e*a 11: p*e**ew.red**it/*uc*pg7qvzh5**jpg?w*dth=108*&am*;format=*jp*&**p;aut*=webp&a*p;*=1**37*61*bc**48800ff48a*d1db**efb*f*e3e3 12: previ**.redd**t*9smhfo**v*h51.jp*?w**th=1080&a**;f****t=pj*g&am*;a*to=web**amp;s=4d1*15a37afdcf0*d1d*9*50e*7a2c9*20*aa7*6 13: p*evie***e*d.it/c6*s*p7q*z**1.jpg?*idth=10*0&am*;f*rma*=pjp*&a*p;auto=we*p&*=c4194*d*d6b*c8**eb7*fd5*8**8*4bc6961231* Unknown links are censored to prevent spreading illicit content.
08-19 13:05 - 'Three Gorges Dam situation affecting miners!' (self.Bitcoin) by /u/Terrible_Trader removed from /r/Bitcoin within 314-324min
''' Something I am not seeing discussed here is the situation with the Three Gorges Dam. The amount of rain has been biblical. [Already miners are being affected]1 . People are being evacuated. This has great potential to affect Bitcoin. Some Twitter threads: [[link]4 [[link]5 ''' Three Gorges Dam situation affecting miners! Go1dfish undelete link unreddit undelete link Author: Terrible_Trader 1: coins*reetn***.com/2**0/0**fl*oding-in-c***a-impacts-**tco*n*mi*ers/ 2: twi*ter.*o*/DJThistle**/st*t*s/1*959824*6058**3*84 3: t*i**er.com/TE*L*chart*/s*atus/*2*56717*75117*2*62 4: twi**er.com/*JThi**l*01/status*1295*8*466*5**731**]^^2 5: tw**ter*com/T*SLAcharts/**at**/*29567***7*1177*162]^^3 Unknown links are censored to prevent spreading illicit content.
Live streaming charts of the Bitcoin price. The chart is intuitive yet powerful, offering users multiple chart types for Bitcoin including candlesticks, area, lines, bars and Heikin Ashi. contente bitcoin wallet; video card bitcoin; is buying and selling bitcoins legal; yesminers bitcointalk; shimizu pt 190 bitcoin; usd to bitcoin charts bitcoin bitcointalk digital goods bitcoin mining calculators bearwhale bitcoin mining mine bitcoins koparka bitcointalk bitcoin mining farm bitcoin confirmations virtual bitcoin mining bitcoin currency bitcoin chart buat bitcoin bitcoin games ... BTC USD (Bitcoin / US Dollar) This is the most popular Bitcoin pair in the world. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of Bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls this cryptocurrency and everyone can take part. Bitcoin price grew ... Das wird am deutlichsten im Bitcoin-Chart: Bitcoin Tageskurse Eine wichtige Unterstützungszone, über der sich die Kryptowährung hätte halten müssen, lag bei etwa 10.430 bis 10.540 Dollar. Bitcoin USD price, real-time (live) charts, bitcoin news and videos. Learn about BTC value, bitcoin cryptocurrency, crypto trading, and more.
Live Bitcoin Chart Liquidation Watch: August 9 2020 - YouTube
Bitcoin Live Btc Price Chart Liquidation Watch Bull vs Bear Pump or Dump Bitcoin Currency Bitcoin is a cryptocurrency. It is a decentralized digital currency without a central bank or single ... WARUM DER BITCOIN KURS SINKT AllgemeineTuts. Loading... Unsubscribe from AllgemeineTuts? ... Sign in to report inappropriate content. Sign in. Transcript; Add translations. 3,231 views. 145. Like ... In meinem aktuellen Video schaue ich mir ausnahmsweise die Kurse von Bitcoin, Ethereum und dem Altcoin-Index an. Ich schaue mir jedoch nicht den Markt der le... WICHTIG!!!! DIESER BITCOIN CHART ZEIGT.... !!!!! Bis zu fast 2000$ kostenlos für deine ersten Trades auf diesen Exchanges! 🔵 DueDex: https://duedex.com/moBon... NEUES BITCOIN CHART PATTERN ZEIGT... !!!!! Bis zu fast 2000$ kostenlos für deine ersten Trades auf diesen Exchanges! 🟢 Bityz: https://bityz.com/?r=CryptoMo...