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Beginner’s Guide to BitMEX

Beginner’s Guide to BitMEX

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Founded by HDR Global Trading Limited (which in turn was founded by former bankers Arthur Hayes, Samuel Reed and Ben Delo) in 2014, BitMEX is a trading platform operating around the world and registered in the Seychelles.
Meaning Bitcoin Mercantile Exchange, BitMEX is one of the largest Bitcoin trading platforms currently operating, with a daily trading volume of over 35,000 BTC and over 540,000 accesses monthly and a trading history of over $34 billion worth of Bitcoin since its inception.

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Unlike many other trading exchanges, BitMEX only accepts deposits through Bitcoin, which can then be used to purchase a variety of other cryptocurrencies. BitMEX specialises in sophisticated financial operations such as margin trading, which is trading with leverage. Like many of the exchanges that operate through cryptocurrencies, BitMEX is currently unregulated in any jurisdiction.
Visit BitMEX

How to Sign Up to BitMEX

In order to create an account on BitMEX, users first have to register with the website. Registration only requires an email address, the email address must be a genuine address as users will receive an email to confirm registration in order to verify the account. Once users are registered, there are no trading limits. Traders must be at least 18 years of age to sign up.
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However, it should be noted that BitMEX does not accept any US-based traders and will use IP checks to verify that users are not in the US. While some US users have bypassed this with the use of a VPN, it is not recommended that US individuals sign up to the BitMEX service, especially given the fact that alternative exchanges are available to service US customers that function within the US legal framework.
How to Use BitMEX
BitMEX allows users to trade cryptocurrencies against a number of fiat currencies, namely the US Dollar, the Japanese Yen and the Chinese Yuan. BitMEX allows users to trade a number of different cryptocurrencies, namely Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero, Ripple, Tezos and Zcash.
The trading platform on BitMEX is very intuitive and easy to use for those familiar with similar markets. However, it is not for the beginner. The interface does look a little dated when compared to newer exchanges like Binance and Kucoin’s.
Once users have signed up to the platform, they should click on Trade, and all the trading instruments will be displayed beneath.
Clicking on the particular instrument opens the orderbook, recent trades, and the order slip on the left. The order book shows three columns – the bid value for the underlying asset, the quantity of the order, and the total USD value of all orders, both short and long.
The widgets on the trading platform can be changed according to the user’s viewing preferences, allowing users to have full control on what is displayed. It also has a built in feature that provides for TradingView charting. This offers a wide range of charting tool and is considered to be an improvement on many of the offering available from many of its competitors.
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Once trades are made, all orders can be easily viewed in the trading platform interface. There are tabs where users can select their Active Orders, see the Stops that are in place, check the Orders Filled (total or partially) and the trade history. On the Active Orders and Stops tabs, traders can cancel any order, by clicking the “Cancel” button. Users also see all currently open positions, with an analysis if it is in the black or red.
BitMEX uses a method called auto-deleveraging which BitMEX uses to ensure that liquidated positions are able to be closed even in a volatile market. Auto-deleveraging means that if a position bankrupts without available liquidity, the positive side of the position deleverages, in order of profitability and leverage, the highest leveraged position first in queue. Traders are always shown where they sit in the auto-deleveraging queue, if such is needed.
Although the BitMEX platform is optimized for mobile, it only has an Android app (which is not official). There is no iOS app available at present. However, it is recommended that users use it on the desktop if possible.
BitMEX offers a variety of order types for users:
  • Limit Order (the order is fulfilled if the given price is achieved);
  • Market Order (the order is executed at current market price);
  • Stop Limit Order (like a stop order, but allows users to set the price of the Order once the Stop Price is triggered);
  • Stop Market Order (this is a stop order that does not enter the order book, remain unseen until the market reaches the trigger);
  • Trailing Stop Order (it is similar to a Stop Market order, but here users set a trailing value that is used to place the market order);
  • Take Profit Limit Order (this can be used, similarly to a Stop Order, to set a target price on a position. In this case, it is in respect of making gains, rather than cutting losses);
  • Take Profit Market Order (same as the previous type, but in this case, the order triggered will be a market order, and not a limit one)
The exchange offers margin trading in all of the cryptocurrencies displayed on the website. It also offers to trade with futures and derivatives – swaps.

Futures and Swaps

A futures contract is an agreement to buy or sell a given asset in the future at a predetermined price. On BitMEX, users can leverage up to 100x on certain contracts.
Perpetual swaps are similar to futures, except that there is no expiry date for them and no settlement. Additionally, they trade close to the underlying reference Index Price, unlike futures, which may diverge substantially from the Index Price.
BitMEX also offers Binary series contracts, which are prediction-based contracts which can only settle at either 0 or 100. In essence, the Binary series contracts are a more complicated way of making a bet on a given event.
The only Binary series betting instrument currently available is related to the next 1mb block on the Bitcoin blockchain. Binary series contracts are traded with no leverage, a 0% maker fee, a 0.25% taker fee and 0.25% settlement fee.

Bitmex Leverage

BitMEX allows its traders to leverage their position on the platform. Leverage is the ability to place orders that are bigger than the users’ existing balance. This could lead to a higher profit in comparison when placing an order with only the wallet balance. Trading in such conditions is called “Margin Trading.”
There are two types of Margin Trading: Isolated and Cross-Margin. The former allows the user to select the amount of money in their wallet that should be used to hold their position after an order is placed. However, the latter provides that all of the money in the users’ wallet can be used to hold their position, and therefore should be treated with extreme caution.
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The BitMEX platform allows users to set their leverage level by using the leverage slider. A maximum leverage of 1:100 is available (on Bitcoin and Bitcoin Cash). This is quite a high level of leverage for cryptocurrencies, with the average offered by other exchanges rarely exceeding 1:20.

BitMEX Fees

For traditional futures trading, BitMEX has a straightforward fee schedule. As noted, in terms of leverage offered, BitMEX offers up to 100% leverage, with the amount off leverage varying from product to product.
However, it should be noted that trading at the highest leverages is sophisticated and is intended for professional investors that are familiar with speculative trading. The fees and leverage are as follows:
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However, there are additional fees for hidden / iceberg orders. A hidden order pays the taker fee until the entire hidden quantity is completely executed. Then, the order will become normal, and the user will receive the maker rebate for the non-hidden amount.

Deposits and Withdrawals

BitMEX does not charge fees on deposits or withdrawals. However, when withdrawing Bitcoin, the minimum Network fee is based on blockchain load. The only costs therefore are those of the banks or the cryptocurrency networks.
As noted previously, BitMEX only accepts deposits in Bitcoin and therefore Bitcoin serves as collateral on trading contracts, regardless of whether or not the trade involves Bitcoin.
The minimum deposit is 0.001 BTC. There are no limits on withdrawals, but withdrawals can also be in Bitcoin only. To make a withdrawal, all that users need to do is insert the amount to withdraw and the wallet address to complete the transfer.
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Deposits can be made 24/7 but withdrawals are processed by hand at a recurring time once per day. The hand processed withdrawals are intended to increase the security levels of users’ funds by providing extra time (and email notice) to cancel any fraudulent withdrawal requests, as well as bypassing the use of automated systems & hot wallets which may be more prone to compromise.

Supported Currencies

BitMEX operates as a crypto to crypto exchange and makes use of a Bitcoin-in/Bitcoin-out structure. Therefore, platform users are currently unable to use fiat currencies for any payments or transfers, however, a plus side of this is that there are no limits for trading and the exchange incorporates trading pairs linked to the US Dollar (XBT), Japanese Yen (XBJ), and Chinese Yuan (XBC).
BitMEX supports the following cryptocurrencies:
  • Bitcoin (XBT)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Litecoin (LTC)
  • Ripple Token (XRP)
  • Monero (XMR)
  • Dash (DASH)
  • Zcash (ZEC)
  • Cardano (ADA)
  • Tron (TRX)
  • EOS Token (EOS)
BitMEX also offers leverage options on the following coins:
  • 5x: Zcash (ZEC)
  • 20x : Ripple (XRP),Bitcoin Cash (BCH), Cardano (ADA), EOS Token (EOS), Tron (TRX)
  • 25x: Monero (XMR)
  • 33x: Litecoin (LTC)
  • 50x: Ethereum (ETH)
  • 100x: Bitcoin (XBT), Bitcoin / Yen (XBJ), Bitcoin / Yuan (XBC)

Trading Technologies International Partnership

HDR Global Trading, the company which owns BitMEX, has recently announced a partnership with Trading Technologies International, Inc. (TT), a leading international high-performance trading software provider.
The TT platform is designed specifically for professional traders, brokers, and market-access providers, and incorporates a wide variety of trading tools and analytical indicators that allow even the most advanced traders to customize the software to suit their unique trading styles. The TT platform also provides traders with global market access and trade execution through its privately managed infrastructure and the partnership will see BitMEX users gaining access to the trading tools on all BitMEX products, including the popular XBT/USD Perpetual Swap pairing.
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The BitMEX Insurance Fund

The ability to trade on leverage is one of the exchange’s main selling points and offering leverage and providing the opportunity for traders to trade against each other may result in a situation where the winners do not receive all of their expected profits. As a result of the amounts of leverage involved, it’s possible that the losers may not have enough margin in their positions to pay the winners.
Traditional exchanges like the Chicago Mercantile Exchange (CME) offset this problem by utilizing multiple layers of protection and cryptocurrency trading platforms offering leverage cannot currently match the levels of protection provided to winning traders.
In addition, cryptocurrency exchanges offering leveraged trades propose a capped downside and unlimited upside on a highly volatile asset with the caveat being that on occasion, there may not be enough funds in the system to pay out the winners.
To help solve this problem, BitMEX has developed an insurance fund system, and when a trader has an open leveraged position, their position is forcefully closed or liquidated when their maintenance margin is too low.
Here, a trader’s profit and loss does not reflect the actual price their position was closed on the market, and with BitMEX when a trader is liquidated, their equity associated with the position drops down to zero.
In the following example, the trader has taken a 100x long position. In the event that the mark price of Bitcoin falls to $3,980 (by 0.5%), then the position gets liquidated with the 100 Bitcoin position needing to be sold on the market.
This means that it does not matter what price this trade executes at, namely if it’s $3,995 or $3,000, as from the view of the liquidated trader, regardless of the price, they lose all the equity they had in their position, and lose the entire one Bitcoin.
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Assuming there is a fully liquid market, the bid/ask spread should be tighter than the maintenance margin. Here, liquidations manifest as contributions to the insurance fund (e.g. if the maintenance margin is 50bps, but the market is 1bp wide), and the insurance fund should rise by close to the same amount as the maintenance margin when a position is liquidated. In this scenario, as long as healthy liquid markets persist, the insurance fund should continue its steady growth.
The following graphs further illustrate the example, and in the first chart, market conditions are healthy with a narrow bid/ask spread (just $2) at the time of liquidation. Here, the closing trade occurs at a higher price than the bankruptcy price (the price where the margin balance is zero) and the insurance fund benefits.
Illustrative example of an insurance contribution – Long 100x with 1 BTC collateral
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(Note: The above illustration is based on opening a 100x long position at $4,000 per BTC and 1 Bitcoin of collateral. The illustration is an oversimplification and ignores factors such as fees and other adjustments.
The bid and offer prices represent the state of the order book at the time of liquidation. The closing trade price is $3,978, representing $1 of slippage compared to the $3,979 bid price at the time of liquidation.)
The second chart shows a wide bid/ask spread at the time of liquidation, here, the closing trade takes place at a lower price than the bankruptcy price, and the insurance fund is used to make sure that winning traders receive their expected profits.
This works to stabilize the potential for returns as there is no guarantee that healthy market conditions can continue, especially during periods of heightened price volatility. During these periods, it’s actually possible that the insurance fund can be used up than it is built up.
Illustrative example of an insurance depletion – Long 100x with 1 BTC collateral
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(Notes: The above illustration is based on opening a 100x long position at $4,000 per BTC and 1 Bitcoin of collateral. The illustration is an oversimplification and ignores factors such as fees and other adjustments.
The bid and offer prices represent the state of the order book at the time of liquidation. The closing trade price is $3,800, representing $20 of slippage compared to the $3,820 bid price at the time of liquidation.)
The exchange declared in February 2019, that the BitMEX insurance fund retained close to 21,000 Bitcoin (around $70 million based on Bitcoin spot prices at the time).
This figure represents just 0.007% of BitMEX’s notional annual trading volume, which has been quoted as being approximately $1 trillion. This is higher than the insurance funds as a proportion of trading volume of the CME, and therefore, winning traders on BitMEX are exposed to much larger risks than CME traders as:
  • BitMEX does not have clearing members with large balance sheets and traders are directly exposed to each other.
  • BitMEX does not demand payments from traders with negative account balances.
  • The underlying instruments on BitMEX are more volatile than the more traditional instruments available on CME.
Therefore, with the insurance fund remaining capitalized, the system effectively with participants who get liquidated paying for liquidations, or a losers pay for losers mechanism.
This system may appear controversial as first, though some may argue that there is a degree of uniformity to it. It’s also worth noting that the exchange also makes use of Auto Deleveraging which means that on occasion, leveraged positions in profit can still be reduced during certain time periods if a liquidated order cannot be executed in the market.
More adventurous traders should note that while the insurance fund holds 21,000 Bitcoin, worth approximately 0.1% of the total Bitcoin supply, BitMEX still doesn’t offer the same level of guarantees to winning traders that are provided by more traditional leveraged trading platforms.
Given the inherent volatility of the cryptocurrency market, there remains some possibility that the fund gets drained down to zero despite its current size. This may result in more successful traders lacking confidence in the platform and choosing to limit their exposure in the event of BitMEX being unable to compensate winning traders.

How suitable is BitMEX for Beginners?

BitMEX generates high Bitcoin trading levels, and also attracts good levels of volume across other crypto-to-crypto transfers. This helps to maintain a buzz around the exchange, and BitMEX also employs relatively low trading fees, and is available round the world (except to US inhabitants).
This helps to attract the attention of people new to the process of trading on leverage and when getting started on the platform there are 5 main navigation Tabs to get used to:
  • **Trade:**The trading dashboard of BitMEX. This tab allows you to select your preferred trading instrument, and choose leverage, as well as place and cancel orders. You can also see your position information and view key information in the contract details.
  • **Account:**Here, all your account information is displayed including available Bitcoin margin balances, deposits and withdrawals, and trade history.
  • **Contracts:**This tab covers further instrument information including funding history, contract sizes; leverage offered expiry, underlying reference Price Index data, and other key features.
  • **References:**This resource centre allows you to learn about futures, perpetual contracts, position marking, and liquidation.
  • **API:**From here you can set up an API connection with BitMEX, and utilize the REST API and WebSocket API.
BitMEX also employs 24/7 customer support and the team can also be contacted on their Twitter and Reddit accounts.
In addition, BitMEX provides a variety of educational resources including an FAQ section, Futures guides, Perpetual Contracts guides, and further resources in the “References” account tab.
For users looking for more in depth analysis, the BitMEX blog produces high level descriptions of a number of subjects and has garnered a good reputation among the cryptocurrency community.
Most importantly, the exchange also maintains a testnet platform, built on top of testnet Bitcoin, which allows anyone to try out programs and strategies before moving on to the live exchange.
This is crucial as despite the wealth of resources available, BitMEX is not really suitable for beginners, and margin trading, futures contracts and swaps are best left to experienced, professional or institutional traders.
Margin trading and choosing to engage in leveraged activity are risky processes and even more advanced traders can describe the process as a high risk and high reward “game”. New entrants to the sector should spend a considerable amount of time learning about margin trading and testing out strategies before considering whether to open a live account.

Is BitMEX Safe?

BitMEX is widely considered to have strong levels of security. The platform uses multi-signature deposits and withdrawal schemes which can only be used by BitMEX partners. BitMEX also utilises Amazon Web Services to protect the servers with text messages and two-factor authentication, as well as hardware tokens.
BitMEX also has a system for risk checks, which requires that the sum of all account holdings on the website must be zero. If it’s not, all trading is immediately halted. As noted previously, withdrawals are all individually hand-checked by employees, and private keys are never stored in the cloud. Deposit addresses are externally verified to make sure that they contain matching keys. If they do not, there is an immediate system shutdown.
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In addition, the BitMEX trading platform is written in kdb+, a database and toolset popular amongst major banks in high frequency trading applications. The BitMEX engine appears to be faster and more reliable than some of its competitors, such as Poloniex and Bittrex.
They have email notifications, and PGP encryption is used for all communication.
The exchange hasn’t been hacked in the past.

How Secure is the platform?

As previously mentioned, BitMEX is considered to be a safe exchange and incorporates a number of security protocols that are becoming standard among the sector’s leading exchanges. In addition to making use of Amazon Web Services’ cloud security, all the exchange’s systems can only be accessed after passing through multiple forms of authentication, and individual systems are only able to communicate with each other across approved and monitored channels.
Communication is also further secured as the exchange provides optional PGP encryption for all automated emails, and users can insert their PGP public key into the form inside their accounts.
Once set up, BitMEX will encrypt and sign all the automated emails sent by you or to your account by the [[email protected]](mailto:[email protected]) email address. Users can also initiate secure conversations with the support team by using the email address and public key on the Technical Contact, and the team have made their automated system’s PGP key available for verification in their Security Section.
The platform’s trading engine is written in kdb+, a database and toolset used by leading financial institutions in high-frequency trading applications, and the speed and reliability of the engine is also used to perform a full risk check after every order placement, trade, settlement, deposit, and withdrawal.
All accounts in the system must consistently sum to zero, and if this does not happen then trading on the platform is immediately halted for all users.
With regards to wallet security, BitMEX makes use of a multisignature deposit and withdrawal scheme, and all exchange addresses are multisignature by default with all storage being kept offline. Private keys are not stored on any cloud servers and deep cold storage is used for the majority of funds.
Furthermore, all deposit addresses sent by the BitMEX system are verified by an external service that works to ensure that they contain the keys controlled by the founders, and in the event that the public keys differ, the system is immediately shut down and trading halted. The exchange’s security practices also see that every withdrawal is audited by hand by a minimum of two employees before being sent out.

BitMEX Customer Support

The trading platform has a 24/7 support on multiple channels, including email, ticket systems and social media. The typical response time from the customer support team is about one hour, and feedback on the customer support generally suggest that the customer service responses are helpful and are not restricted to automated responses.
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The BitMEX also offers a knowledge base and FAQs which, although they are not necessarily always helpful, may assist and direct users towards the necessary channels to obtain assistance.
BitMEX also offers trading guides which can be accessed here

Conclusion

There would appear to be few complaints online about BitMEX, with most issues relating to technical matters or about the complexities of using the website. Older complaints also appeared to include issues relating to low liquidity, but this no longer appears to be an issue.
BitMEX is clearly not a platform that is not intended for the amateur investor. The interface is complex and therefore it can be very difficult for users to get used to the platform and to even navigate the website.
However, the platform does provide a wide range of tools and once users have experience of the platform they will appreciate the wide range of information that the platform provides.
Visit BitMEX
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The Exhaustive EOS FAQ

The Exhaustive EOS FAQ

 
With the large number of new readers coming to this sub we need to make information easy to access so those readers can make informed decisions. We all know there is an unusually large amount of Fear, Uncertainty and Doubt (FUD) surrounding EOS. Frankly, when clear evidence is provided it’s not that difficult to see EOS for the extremely valuable project it is. This post hopes to begin to put an end to all the misinformation by doing the following:  
  • Giving a clear and concise answer to the most frequently asked questions in regards to EOS.
  • Giving a more in-depth answer for those who want to read more.
  • Allowing readers to make informed decisions by making credible information easy to access.
 
As EOS climbs the ranks we need to recognise there are going to be a lot of skeptical readers coming over and posting their questions. Sometimes they will be irrational, hostile and often just looking for a reaction. We should make it our responsibility to welcome everyone and refrain from responding emotionally to provocative posts, instead providing factual and rational answers.
I will add to this post as and when I can, if you have any ideas or spot any mistakes let me know and I'll get them fixed ASAP. Im planning to add a bit on the team, centralisation and DPOS, governance and EOS VC shortly but please let me hear your suggestions!
 

FAQ

1. How do you registeclaim your EOS tokens before June 2018?

 
Answer courtesy of endless. If you have not done so, you will need to create a new pair of EOS public and private keys and register them with an Ethereum address. This only needs to be done once.
On or around June 1, 2018 all EOS Tokens will become frozen and non-transferable on the Ethereum blockchain. Not long after, I suspect that EOS community members will create a snapshot of token balances that carry over onto a new community generated and selected EOS blockchain. block.one will not be launching EOS blockchains or operating any of their nodes. Additionally, this is a community subreddit unaffiliated in an official capacity with block.one
Method #1: MetaMask (recommended)
Video guide: https://www.youtube.com/watch?v=8K1Q5hX_4-o
steemit tutorial: https://steemit.com/eos/@ash/full-walkthrough-how-to-join-eos-ico
Method #2: MyEtherWallet
steemit tutorial: https://steemit.com/eos/@sandwich/contributing-to-eos-token-sale-with-myetherwallet-and-contract-inner-workings
Method #3: Exodus Wallet
Official website tutorial: http://support.exodus.io/article/65-i-ve-received-eos-tokens-in-exodus-how-do-i-register-them
Important note courtesy of dskvry bka Sandwich, the author of Method #2's steemit tutorial:
claimAll will not work for most users. When you get to the claim step, please use the following tutorial: https://steemit.com/eos/@koyn/minimizing-the-cost-of-gas-when-claiming-eos-using-myetherwallet
Did you buy your EOS tokens on an exchange? (Courtesy of IQOptionCoin)
REMEMBER YOU ONLY NEED TO REGISTER YOUR TOKENS IF YOU BOUGHT THEM ON AN EXCHANGE. YOU DON'T NEED TO CLAIM THEM.
  1. Go to the EOS website https://eos.io
  2. Scroll down and select "GET EOS"
  3. Tick all the required boxes and click "Continue"
  4. Scroll down and click "Register"
  5. Select Metamask, MyEtherWallet, or Ethereum Wallet
  6. Follow the guide.
  7. Remember that the reason you need to register your Ethereum ERC-20 address is to include your EOS tokens in order for the balance of your EOS Tokens to be included in the Snapshot if a Snapshot is created, you must register your Ethereum address with an EOS public key. The EOS snapshot will take place prior to the 1 June 2018. After this point your ERC-20 EOS tokens will be frozen. And you will be issued EOS tokens on the EOS blockchain.
So PLEASE REGISTER your Ethereum address NOW, don't forget about it, or plan on doing it some time in the near future.
There are a lot of submissions about this in /eos, so rather than making a new one please reply to this thread with any questions you may have. Don't forget to join the EOS mailing list: https://eos.io/#subscribe and join the EOS community on your platform(s) of choice: Telegram, Discord and/or Facebook.
And remember, if anyone instructs you to transfer ETH to an EOS contract address that doesn't match the address found on https://eos.io you are being scammed.
 

Sources:

How to registeclaim your EOS tokens before June 2018 by endless
Official EOS FAQ
 

2. How will the token the ERC-20 EOS tokens be transferred to the native blockchain?

 

Quick answer:

There isn't one! Read the long answer then read it again, registering your Ethereum wallet is mandatory!
 

Long answer:

Within 23 hours after the end of the final period on June 1, 2018 at 22:59:59 UTC, all EOS Tokens will become fixed (ie. frozen) and will become non-transferrable on the Ethereum blockchain.
In order to ensure your tokens are transferred over to the native blockchain you must register your Ethereum address with an EOS public key, if you do not you will lose all your tokens! I am not going to link any tutorials as there are many that can be found by searching Google and YouTube.
block.one is helping with the development of snapshot software that can be used to capture the EOS token balance and registered EOS public key of wallets on the Ethereum blockchain. It is then down to the community to create the snapshot. This snapshot can be used when generating a genesis block for a blockchain implementing eos.io software. block.one will not be launching EOS blockchains or operating any of their nodes.
 
Exchange Support
Some exchanges have announced that they will support the token swap. Although using this method will undoubtedly be much simpler than registering the tokens yourself it also comes with its pitfalls.
  • It is highly likely there are going to be multiple networks running on the eos.io software that use the snapshot. It is highly unlikely that exchanges will support them all.
  • It is highly likely that exchanges will not support airdrops that use the snapshot.
Exchanges that have announced support for the token swap include:
 

Sources:

EOS.io
 

3. What does EOS aim to achieve?

 

Quick answer:

EOS.IO software is aiming to provide a decentralized operating system which can support thousands of industrial scale DApps by enabling vertical and horizontal scaling.
 

Long answer:

EOS.IO is software that introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This is achieved through an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications.
 

Sources:

Official EOS FAQ
 

4. Who are the key team figures behind EOS?

 
  • CEO Brendan Blumer - Founder of ii5 (1group) and okay.com. He has been in the blockchain industry since 2014 and started selling virtual assets at the age of 15. Brenden can be found on the Forbes Cypto Rich List. Brendan can be found on Twitter.
  • CTO Dan Larimer - Dan's the visionary industry leader who built BitShares, Graphene and Steemit as well as the increasingly popular Proof of Stake Governance and Decentralised Autonomous Organization Concept. He states his mission in life is “to find free market solutions to secure life, liberty, and property for all.”. Dan can also be found on the Forbes Cypto Rich List. Dan can be found on Twitter and Medium.
  • Partner Ian Grigg - Financial cryptographer who's been building cryptographic ledger platforms for 2+ decades. Inventor of the Ricardian Contract and Triple-Entry Accounting.
 

Sources:

Forbes Crypto Rich List
 

5. Where can the latest EOS news be found?

 
Official:
Community:
Developers:
 

6. Which consensus mechanism does EOS use and what are Block Producers?

 

Quick answer:

Delegated Proof of Stake (DPOS) with Byzantine Fault Tolerance. Block Producers (BPs) produce the blocks of the blockchain and are elected by token holders that vote for them. BPs will earn block rewards for their service, these block rewards come in the form of EOS tokens produced by token inflation.
 

Long answer:

Taken from the EOS.IO Technical White Paper v2:
“EOS.IO software utilizes the only known decentralized consensus algorithm proven capable of meeting the performance requirements of applications on the blockchain, Delegated Proof of Stake (DPOS). Under this algorithm, those who hold tokens on a blockchain adopting the EOS.IO software may select block producers through a continuous approval voting system. Anyone may choose to participate in block production and will be given an opportunity to produce blocks, provided they can persuade token holders to vote for them.
The EOS.IO software enables blocks to be produced exactly every 0.5 second and exactly one producer is authorized to produce a block at any given point in time. If the block is not produced at the scheduled time, then the block for that time slot is skipped. When one or more blocks are skipped, there is a 0.5 or more second gap in the blockchain.
Using the EOS.IO software, blocks are produced in rounds of 126 (6 blocks each, times 21 producers). At the start of each round 21 unique block producers are chosen by preference of votes cast by token holders. The selected producers are scheduled in an order agreed upon by 15 or more producers.
Byzantine Fault Tolerance is added to traditional DPOS by allowing all producers to sign all blocks so long as no producer signs two blocks with the same timestamp or the same block height. Once 15 producers have signed a block the block is deemed irreversible. Any byzantine producer would have to generate cryptographic evidence of their treason by signing two blocks with the same timestamp or blockheight. Under this model a irreversible consensus should be reachable within 1 second."
 

7. How does the voting process work?

 
The voting process will begin once the Block Producer community releases a joint statement ensuring that it is safe to import private keys and vote.
Broadly speaking there will be two methods of voting:
  1. Command Line Interface (CLI) tools
  2. Web portals
EOS Canada has created eosc, a CLI tool that supports Block Producer voting. Other Block Producer candidates such as LibertyBlock are a releasing web portal that will be ready for main net launch. There will be many more options over the coming weeks, please make sure you are always using a service from a trusted entity.
Remember: Do not import your private key until you have seen a joint statement released from at least five Block Producers that you trust which states when it is safe to do so. Ignoring this warning could result in tokens lost.
 

8. What makes EOS a good investment?

 
  • Team - EOS is spearheaded by the visionary that brought us the hugely successful Bitshares and Steem - arguably with two projects already under his belt there is no one more accomplished in the space.
  • Funding - EOS is one of the best funded projects in the space. The block.one team has committed $1B to investing in funds that grow the EOS echo system. EOS VC funds are managed by venture leaders distributed around the world to insure founders in all markets have the ability to work directly with local investors. Incentives such as the EOS hackathon are also in place with $1,500,000 USD in Prizes Across 4 Events.
  • Community Focus - The team is aware that the a projects success depends almost entirely on its adoption. For this reason there has been a huge push to develop a strong world wide community. There is already a surplus number of block producers that have registered their interest and started to ready themselves for the launch and incentives the EOS hackathon are being used to grow the community. A index of projects using EOS can be found at https://eosindex.io/posts.
  • Technical Advantages - See point 9!
 

9. What are the unique selling points of EOS?

 
  • Scaleability
    • Potential to scale to millions of transactions per second
    • Inter-blockchain communication
    • Separates authentication from execution
  • Flexibility
    • Freeze and fix broken applications
    • Generalised role based permissions
    • Web Assembly
  • Usability
    • Elimination of transaction fees
    • True user accounts with usernames, passwords and account recovery (no more having to remember long cryptographic keys)
    • Web toolkit for interface development
 

Sources:

eos.io
EOS Whitepaper
 

10. Is there currently a working product?

 

Quick answer:

This depends entirely on your definition of working product. If a fully featured developer release meets your definition then yes!. Otherwise the public release will be June 2018.
 

Long answer:

EOS differs from other projects in that it aims to deliver a fully featured version of the software on launch. The Dawn 3.0 RC1 feature complete pre-release became available on April 5th. This version has all the features of the final release that is due June 2018. Further development will involve preparing the final system contract which implements all of the staking, voting, and governance mechanics. The common notion that there is no viewable code published is wrong and the initial Dawn 1.0 release has been available from September 14th 2017.
 
EOSIO V1 - June 2nd 2018
Dawn 3.0 RC1 - April 5th 2018
Dawn 3.0 Alpha - January 23rd 2018
Dawn 2.0 - December 4th 2017
Dawn 1.0 - September 14th 2017
 

Sources:

 

11. EOS is an ERC-20 token, how can it possibly be a competitor to other platforms?

 

Quick answer:

The ERC-20 token is used only for raising funds during the token distribution; all tokens will be transferred to the native blockchain once launched.
 

Long answer:

EOS team has clearly stated their reason for choosing the Ethereum network when they described the rationale behind the ICO model. Specifically, the ICO should be a fair and auditable process, with as little trust required as possible. If you believe that an ICO should be fair, auditable, and trustless, you have no choice but to use a decentralized smart contract blockchain to run the ICO, the largest, and by-far most popular of which is Ethereum. Since EOS is intended to be a major competitor for Ethereum, some have seen this as a hypocritical choice. - Stolen from trogdor on Steam (I couldn’t word it any better myself).  

Sources:

The EOS ico for dummies by trogdor
Official EOS FAQ
 

12. Why do the eos.io T&C’s say the ERC-20 token has no value?

 
The EOS T&C’s famously state:
"The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform."
 

Quick answer:

This is legal wording to avoid all the legal complications in this emerging space, block.one do not want to find themselves in a lawsuit as we are seeing with an increasing amount of other ICOs. Most notably Tezos (links below).
 

Long answer:

This all comes down to legal issues. Anyone who’s been into crypto for 5 minuets knows that government bodies such as the Securities and Exchange Commission (SEC) are now paying attention to crypto in a big way. This legal wording is to avoid all the legal complications in this emerging space, block.one do not want to find themselves in a lawsuit as we are seeing with an increasing amount of other ICOs. Many token creators that launched ICOs are now in deep water for selling unregistered securities.
 
A filing from the Tezos lawsuit:
"In sum, Defendants capitalized on the recent enthusiasm for blockchain technology and cryptocurrencies to raise funds through the ICO, illegally sold unqualified and unregistered securities, used a Swiss-based entity in an unsuccessful attempt to evade U.S. securities laws, and are now admittedly engaged in the conversion, selling, and possible dissipation of the proceeds that they collected from the Class through their unregistered offering."
 
To ensure EOS tokens are not classed as a unregistered security block.one has made it clear that they are creating the EOS software only and won’t launching a public blockchain themselves. This task is left down to the community, or more precisely, the Block Producers (BPs). The following disclaimer is seen after posts from block.one:
 
"block.one is a software company and is producing the EOS.IO software as free, open source software. This software may enable those who deploy it to launch a blockchain or decentralized applications with the features described above. block.one will not be launching a public blockchain based on the EOS.IO software. It will be the sole responsibility of third parties and the community and those who wish to become block producers to implement the features and/or provide the services described above as they see fit. block.one does not guarantee that anyone will implement such features or provide such services or that the EOS.IO software will be adopted and deployed in any way.”
 
It is expected that many blockchains using eos.io software will emerge. To ensure DAPPs are created on an ecosystem that aligns with the interests of block.one a $1bn fund will be has been created to incentivise projects to use this blockchain.
 

Sources:

EOS.io FAQ Great video on this topic by The Awakenment EOS $1bn Fund Announcement Article on the Tezos lawsuit Article on the Gigawatt lawsuit An official block.one post featuring disclaimer
 

13. Why is the token distribution one year long?

 
Official statement from block.one:
“A lot of token distributions only allow a small amount of people to participate. The EOS Token distribution structure was created to provide a sufficient period of time for people to participate if they so choose, as well as give people the opportunity to see the development of the EOS.IO Software prior to making a decision to purchase EOS Tokens.”
 
It is also worth noting that block.one had no knowledge how much the the token distribution would raise as it is determined by the free market and the length of the token distribution is coded into the Ethereum smart contract, which cannot be changed.
 

Sources:

EOS.io FAQ
 

14. Where is the money going from the token distribution?

 

Quick answer:

Funding for the project was raised before EOS was announced, the additional money raised from the token distribution is largely going to fund projects on EOS.
 

Long answer:

A large portion of the money raised is getting put back into the community to incentivise projects using eos.io software. block.one raised all the money they needed to develop the software before the ERC-20 tokens went on sale. There are some conspiracies that block.one are pumping the price of EOS using the funds raised. The good thing about blockchain is you can trace all the transactions, which show nothing of the sort. Not only this but the EOS team are going to have an independent audit after the funding is complete for piece of mind.
 
From eos.io FAQ:
“block.one intends to engage an independent third party auditor who will release an independent audit report providing further assurances that block.one has not purchased EOS Tokens during the EOS Token distribution period or traded EOS Tokens (including using proceeds from the EOS Token distribution for these purposes). This report will be made available to the public on the eos.io website.”
 

Sources:

EOS.io FAQ EOS $1bn Fund Announcement
 

15. Who's using EOS?

 
With 2 months from launch left there is a vibrant community forming around EOS. Some of the most notable projects that EOS software will support are:
A more complete list of EOS projects can be found at eosindex.io.
 

16. Dan left his previous projects, will he leave EOS?

 

Quick answer:

When EOS has been created Dan will move onto creating projects for EOS with block.one.
 

Long answer:

When a blockchain project has gained momentum and a strong community has formed the project takes on a life of its own and the communities often have ideas that differ from the creators. As we have seen with the Bitcoin and Ethereum hark forks you cant pivot a community too much in a different direction, especially if its changing the fundamentals of the blockchain. Instead of acting like a tyrant Dan has let the communities do what they want and gone a different way. Both the Bitshares and Steem were left in a great position and with Dans help turned out to be two of the most successful blockchain projects to date. Some would argue the most successful projects that are actually useable and have a real use case.
What Dan does best is build the architecture and show whats possible. Anyone can then go on to do the upgrades. He is creating EOS to build his future projects upon it. He has stated he loves working at block.one with Brendan and the team and there is far too much momentum behind EOS for him to possibly leave.
 

Sources:

Dans future beyond EOS
Why Dan left Bitshares
Why Dan left Steem
 

17. Is EOS susceptible to DDoS attacks?

 
No one could have better knowledge on this subject than our Block Producer candidates, I have chosen to look to EOS New York for this answer:
"DDoS'ing a block producing is not as simple as knowing their IP address and hitting "go". We have distributed systems engineers in each of our candidate groups that have worked to defend DDoS systems in their careers. Infrastructure can be built in a way to minimize the exposure of the Block Producing node itself and to prevent a DDoS attack. We haven't published our full architecture yet but let's take a look at fellow candidate EOSphere to see what we mean. As for the launch of the network, we are assuming there will be attacks on the network as we launch. It is being built into the network launch plans. I will reach out to our engineers to get a more detailed answer for you. What also must be considered is that there will be 121 total producing and non-producing nodes on the network. To DDoS all 121 which are located all around the world with different security configurations at the exact same time would be a monumental achievement."
 

Sources:

eosnewyork on DDoS attackd
EOSSphere Architecture
 

18. If block producers can alter code how do we know they will not do so maliciously?

 

Quick answer:

  • Block producers are voted in by stake holders.
  • Changes to the protocol, constitution or other updates are proposed to the community by block producers.
  • Changes takes 2 to 3 months due to the fact block producers must maintain 15/21 approval for a set amount of time while for changes to be processed.
  • To ensure bad actors can be identified and expelled the block.one backed community will not back an open-entry system built around anonymous participation.
 

Long answer:

For this question we must understand the following.
  • Governance and why it is used.
  • The process of upgrading the protocol, constitution & other updates.
  • Dan’s view on open-entry systems built around anonymous participation.
 
Governance
Cryptography can only be used to prove logical consistency. It cannot be used to make subjective judgment calls, determine right or wrong, or even identify truth or falsehood (outside of consistency). We need humans to perform these tasks and therefore we need governance!
Governance is the process by which people in a community:
  1. Reach consensus on subjective matters of collective action that cannot be captured entirely by software algorithms;
  2. Carry out the decisions they reach; and
  3. Alter the governance rules themselves via Constitutional amendments.
Embedded into the EOS.IO software is the election of block producers. Before any change can be made to the blockchain these block producers must approve it. If the block producers refuse to make changes desired by the token holders then they can be voted out. If the block producers make changes without permission of the token holders then all other non-producing full-node validators (exchanges, etc) will reject the change.
 
Upgrade process
The EOS.IO software defines the following process by which the protocol, as defined by the canonical source code and its constitution, can be updated:
  1. Block producers propose a change to the constitution and obtains 15/21 approval.
  2. Block producers maintain 15/21 approval of the new constitution for 30 consecutive days.
  3. All users are required to indicate acceptance of the new constitution as a condition of future transactions being processed.
  4. Block producers adopt changes to the source code to reflect the change in the constitution and propose it to the blockchain using the hash of the new constitution.
  5. Block producers maintain 15/21 approval of the new code for 30 consecutive days.
  6. Changes to the code take effect 7 days later, giving all non-producing full nodes 1 week to upgrade after ratification of the source code.
  7. All nodes that do not upgrade to the new code shut down automatically.
By default, configuration of the EOS.IO software, the process of updating the blockchain to add new features takes 2 to 3 months, while updates to fix non-critical bugs that do not require changes to the constitution can take 1 to 2 months.
 
Open-entry systems built around anonymous participation
To ensure bad actors can be identified and expelled the block.one backed community will not back an open-entry system built around anonymous participation.
Dan's quote:
"The only way to maintain the integrity of a community is for the community to have control over its own composition. This means that open-entry systems built around anonymous participation will have no means expelling bad actors and will eventually succumb to profit-driven corruption. You cannot use stake as a proxy for goodness whether that stake is held in a bond or a shareholder’s vote. Goodness is subjective and it is up to each community to define what values they hold as good and to actively expel people they hold has bad.
The community I want to participate in will expel the rent-seeking vote-buyers and reward those who use their elected broadcasting power for the benefit of all community members rather than special interest groups (such as vote-buyers). I have faith that such a community will be far more competitive in a market competition for mindshare than one that elects vote buyers."
 

Sources:

The Limits of Crypto-economic Governance
EOS.IO Technical White Paper v2
 

19. What is the most secure way to generate EOS key pairs?

 
Block producer candidates EOS Cafe and EOS New York have come forward to help the community with this topic.
The block producer candidate eosnewyork has kindly posted a tutorial on steemit detailing the steps that need to be taken to generate key pairs using the official code on the EOS.IO Github.
The block producer candidate eoscafe has gone a step further and released an Offline EOS Key Generator application complete with GUI for Windows, Linux & Mac. Not only can this application generate key pairs but it can also validate key pairs and resolve public keys from private keys. This application has also been vouched for by EOS New York
 

Sources:

EOS.IO Github
eosnewyork's key pair generation tutorial
eoscafe's offline key par generation application  
submitted by Techno-Tech to eos [link] [comments]

The Case for XRP in 2018

Cryptocurrencies have grown exponentially not only in price this past year but also in public awareness and popular attention. The novel feeling to an emerging financial and technological market is reminiscent of the rise of the Internet with its innovative potential. In turn, a heightened collective societal awareness of this new innovative potential has led to a change in the nature of the market dynamics of cryptocurrencies. As Heisenberg’s Uncertainty Principle posits, “The observation of a phenomenon changes the phenomena itself.” The observation of thousands of young millennials, and now middle-aged investors, will only accelerate the rise of cryptocurrencies as times goes on.
Today, we are seeing the real-world effects of a newfound intrigue into cryptocurrencies. This new interest is causing a narrowing of the divergence between truth and fiction over accurate knowledge about cryptocurrencies. The force drawing this gap narrower each day is an increased dissemination of truthful information that has generated legions of individual investors into new cryptocurrency markets; in particular, Ripple’s XRP.
As the public expands its understanding of Ripple’s XRP, the capital inflow from both individual and institutional investors combined will likely grow to levels that will exponentially grow the liquidity of XRP and, as a byproduct, its price.
Here, in this report, I will provide an overview and analysis of Ripple’s XRP and the implications Q4 2017 and the year 2018 and beyond hold for the future of XRP and its price.
THE CONCEPT: WHAT IS XRP?
XRP is the digital asset used by Ripple to offer financial institutions an option for liquidity to conduct cross-border payments. It is predominantly used for Ripple’s solution for the minimization of liquidity costs. In contrast to most other cryptocurrencies, XRP’s application here features a real-world applicability that extends to real-world transactions. It is used for the xRapid solution provided by Ripple, and is the only one of the three solutions Ripple offers (The others are xCurrent and xVia) that employs the use of XRP.
THE RATIONALE: WHY XRP?
There is a myriad of factors that distinguish XRP from other cryptocurrencies and establish it as a forerunner to what may become the dominant cryptocurrencies in the years that lie ahead.
Cost: Comparatively, XRP has the lowest cost per transaction at $0.0004. In contrast, BCH is $0.26, LTC is $0.37, DASH is $0.64, ETH is $0.96, and BTC is $28.23.
Scalability: XRP can handle over 1,500 transactions per second whereas BCH can handle 24 per second, LTC can handle 56 per second, DASH can handle 10 per second, ETH can handle 16 per second, and BTC can handle 24 per second.
Speed: XRP can conduct transactions at a rate of 3 seconds per transaction, BCH at a rate of 58 minutes per transaction, LTC at 17 minutes per transaction, DASH at 15 minutes per transaction, ETH at 2 minutes per transaction, and BTC 1 hour and 6 minutes per transaction.
XRP’s availability is ever-expanding. It is currently available on over 50 exchanges including Bitstamp, Bithumb, Bittrex, Binance, Bitfinex, Kraken, and Poloniex. The volume of XRP availability is, in addition, in an expansionary phase. The primary location of exchange volume is concentrated in Asia; in particular, South Korea. However, as mainstream media attention increases, so will American interest as well. There already have been tell-tale signs indicative in news outlets that have covered Ripple recently in the wake of XRP’s rise in CNBC, Bloomberg, Forbes, Investopedia, and Yahoo Finance.
Simply consider the mania generated by the media attention to Bitcoin. Repetitive news stories featured on CNBC, Bloomberg, CNN, CBS, and other mainstream media news outlets. Countless articles disparaging it as a bubble and hailing it as a force that could deconstruct the financial apparatus governed by the Federal Reserve and other central banks. Now, consider the results of media attention directed towards the substantive information behind XRP. Once news segments and articles are shown and written that illustrate the comparative superiority of XRP to other cryptocurrencies, then the viewers and readers will likely flock to XRP in pursuit of acquiring a tried, tested, and proven cryptocurrency with real-world usage.
In turn, a virtuous circle intensifying capital inflow to XRP is predictable and probably to occur. We can expect FOMO to rise and a number of oscillations up and down for the price to unfold. Nevertheless, the price of XRP is bound to not only remain but rather accelerate its demonstrated upwards price trajectory pushing us to new heights.
Additionally, if the collective fear among cryptocurrency investors materializes, that is, if new regulations are imposed on our activities, then Ripple is stand to likely gain. Dr. Nassim Nicholas Taleb, a scholar and risk analyst writes about a concept called “Antifragility.” Antifragility is a term used to describe things that gain from disorder. Considering Ripple’s ties to financial institutions and regulators, it wouldn’t be too far-off to speculate that XRP is positioned to gain if such a black swan event were to occur.
FURTHER REASONS TO ADVANCE THE CASE FOR XRP:
Financial institutions, renown investors, and accomplished financiers have already taken notice of XRP. Former Federal Reserve Chairman Ben Bernanke has advocated on Ripple’s behalf. Zoe Cruz, former president for institutional securities and wealth management at Morgan Stanley and former global head of fixed income, commodities, and foreign exchange has joined Ripple’s Board of Directors. She has been named to Forbes list of Most Powerful Women for three years straight.
Perhaps most notably, a consortium of 61 banks – organized by SBI Ripple Asia – will be adopting Ripple’s technology to settle transactions between its members with the eventual goal of applying XRP to usage. Mr. Yoshitaka Kitao, the CEO, Executive Chairman, and President has publicly stated, “Forget about bitcoin, we’re all in on XRP!” In fact, SBI has already confirmed that XRP will be put in usage in Spring 2018. If successful, expect the price to reflect it.
Moreover, TechCrunch Founder Michael Arrington has, as of November 2017, announced a $100 million XRP hedge fund. His efforts have already raised $50 million which will engender a ripple effect of new large net-worth individual and institutional investors. The entity will be called Arrington XRP Capital and new information about its activities are set to be released in the months that lie ahead.
Also, David Schwartz, Ripple’s Chief Cryptographer, has said that there are two major “household” companies (Not financial institutions) that will be announced in Q4. This is likely to provide a substantial boon to XRP.
Finally, the Chief Technology Officer of Ripple, Stefan Thomas, has said that in 2018 there will be a “big push on XRP.” For years, Ripple has kept a relative silence in expressing the superiority of XRP. 2018 will be different. 2018 is bound to be Ripple’s year. I expect the price to rise as high as $10 and as low as $4.
At any rate, this report only scratches the surface of Ripple and XRP’s potential. For far more nuanced and in-depth analysis and information, I suggest reading from Ripple firsthand at www.ripple.com and perusing the best blog on XRP itself at https://xrphodor.wordpress.com/
To the moon, we go.
SOURCE: https://cellardoorway.com/2017/12/24/the-case-for-ripples-xrp-a-brief-overview/
submitted by OttoVonBismarck- to Ripple [link] [comments]

Daily analysis of cryptocurrencies 20191027 (Market index 50 — Neutral state)

Daily analysis of cryptocurrencies 20191027 (Market index 50 — Neutral state)

https://preview.redd.it/bgj3hxy1u6v31.png?width=400&format=png&auto=webp&s=d2fbdee5918290e79b62010dabb94148c761439d

Video Lessons Targeting Blockchain Technology Go Live On CCPPD’s Platform Following the news that XI Jinping, Chinese President and General Secretary of the Communist Party of China, addressed the importance of blockchain in making technological breakthroughs at the eighteenth group learning event organized by the Political Bureau of the Central Committee Oct 24, the Xuexi.cn platform led by the Publicity Department of the Central Committee of the Communist Party of China, or CCPPD, announced Oct 26 the launch of the video lessons targeting the blockchain technology. The videos with a total of 25 lessons mainly include the preliminary introduction to the blockchain technology, the consensus agreement, Bitcoin, Ethereum and smart contracts, blockchain performance improvement, blockchain security, the basic knowledge of big data, in-depth analysis of blockchain instances, as well as the concrete programming code examples.
The Bitcoin Financing Case Accepted By Chinese Court For The First Time A loan dispute caused by the Bitcoin pledge has been put on file in Wuchang District People’s Court, Hubei Province (lying in central China). According to the indictment, the defendant pledged Bitcoin to borrow money from the plaintiff to bet on the rise of the king coin. During the Bitcoin decline cycle in 2018, the plaintiff took measures to liquidate the position forcibly, but still suffered some losses. The defendant does not acknowledge the loan relationship, falling to a material breach. Lawyer SUN Jun from Shanghai SHENHAO Law firm indicated that the financial attribute of Bitcoin would be recognized for the first time in China.
For New Cryptography Law, China Took A Big Step In Right Direction, CZ Comments ZHAO Changpeng, also known as CZ, founder of Binance, reposted an article released by CoinDesk and titled “China’s Congress Passes Cryptography Law, Effective Jan. 1, 2020.” Regarding the issue, ZHAO commented, “This is big! The country with the biggest population on Earth, and one of the highest GDP growth in recent years, just took a big step in the right direction. What is your country gonna do? Follow or get left behind?”
Baidu Search Index For Blockchain Up By 894% In Past 7 Days Amid President XI Highlighting Blockchain Citing data by Baidu Search Index, in the past seven days, daily average searches for the word “Bitcoin” were 31,955, which was 108% more than that of the previous year and 60% more than that of the previous week; daily average searches for the word “blockchain” was 42,444, which was 349% more than that of the previous year and 894% more than that of the previous week. As previously reported by CoinNess.com, Chinese President XI Jinping said on Oct 24 that China would put more focus on blockchain development. Note: Data offered by Baidu Search Index shows recent popular topics/trends in China.

Encrypted project calendar(October 27, 2019)

ICON (ICX): 27 October 2019 Money 20/20 USA Event Money 20/20 USA in Las Vegas from October 27–30. Aeternity (AE): and 5 others 27 October 2019 CoinAgenda Conference CoinAgenda conference in Las Vegas from October 26–28. Electroneum (ETN): 27 October 2019 KRON-TV Interview “… You can watch Richard Ells interview with Jane King on KRON-TV in San Francisco, 6:30am October 27th.” Hype Token (HYPE): 27 October 2019 Token Voting Event Voting for HYPE Token’s burning % and daily freezing rewards % for November is now live! Freeze tokens to vote & receive daily rewards.

Encrypted project calendar(October 28, 2019)

LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28 ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th Stellar (XLM): 28 October 2019 Protocol 12 Upgrade Vote Horizon v0.22.0 has been released, which supports Protocol 12. This gives everyone ample time to prepare for the Protocol 12 upgrade vote Celsius (CEL) and 3 others: 28 October 2019 Litecoin Summit “…The Litecoin Summit offers two fun, jam-packed days with something for everyone.” XFOC (XFOC): The IDAX platform will be online XFOC and will open the XFOC/USDT trading pair at 13:00 on October 28. MEDIUM (MDM): The IDAX platform lists MDM and will open MDM/BTC trading pairs on October 28th at 15:00. ZB/ ZB Blockchain: The “2019 Hamburg Intercontinental Dialogue Conference” hosted by ZB.com will be held from October 28th to November 9th at the Four Seasons Hotel Hamburg, Germany. BQT (BQTX): 28 October 2019 Down for Maintenance BQTX.com will be down for maintenance on the 28th of October from 7 to 12am UTC.

Encrypted project calendar(October 29, 2019)

BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st. ICON (ICX): 29 October 2019 Decentralization “As a result, the decentralization schedule of the ICON Network has been changed from September 24, 2019 to October 29, 2019.” Ark (ARK): and 10 others 29 October 2019 WCC 2019 Second annual Blockchain and Cryptocurrency Technology event, World Crypto Conference (WCC), October 29th — October 31, 2019. Insifa (ISF): 29 October 2019 Prototype Alpha “We from Insifa have decided to be more open. Our Prototype will be developed in scrum. This means new releases every two weeks.” Enjin Coin (ENJ): 29 October 2019 EnjinCraft Stress Test “Join us Oct. 29 at 7:00pm GMT for a stress test. Let’s try to break #EnjinCraft!” IOTA (MIOTA): 29 October 2019 IOTSWC Barcelona IOT Solutions World Congress Digitalizing Industries conference in Barcelona from October 29–31.

Encrypted project calendar(October 30, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.” TRON (TRX): 30 October 2019 SFBW19 Afterparty “TRON Official SFBW19 Afterparty from 7–10:30 PM in San Francisco.” Horizen (ZEN): 30 October 2019 Horizen Quarterly Update Join our first Quarterly Update on October the 30th at 5 PM UTC/ 1 PM EST. Deeper look into Engineering, BD, Marketing, and more. Aeternity (AE): 30 October 2019 Hardfork “The third hardfork of the æternity Mainnet is scheduled for October 30, 2019.” Valor Token (VALOR): 30 October 2019 Transaction Fees Resume “It’s September and the SMART VALOR Platform is still waiving transaction fees for all members, until October 30th!” Aragon (ANT): 30 October 2019 Singapore Meetup “Aragon on DAOs and DeFi” from 6:30–8:30 PM. Kambria (KAT): 30 October 2019 Outliers Hashed Awards Outliers Hashed awards from October 30–31. Ethereum Classic (ETC): 30 October 2019 Cohort Demo Day “ETC Labs hosts it’s 2nd Cohort Demo Day. Learn about the companies and project being accelerated through the Ethereum Classic ecosystem.”

Encrypted project calendar(October 31, 2019)

Spendcoin (SPND): 31 October 2019 (or earlier) Cross Ledger Mainnet “Cross Ledger Mainnet Release and SPND Token Swap,” during October 2019. Spendcoin (SPND): 31 October 2019 (or earlier) Blkchn University Beta “Blockchain University Beta goes live,” during October 2019. Stellar (XLM): 31 October 2019 (or earlier) Minor Release “We will have 6 Minor Releases in 2019; one each in February, March, May, June, August, and October.” Bitcoin SV (BSV): 31 October 2019 (or earlier) BSV Conference Seoul No additional information. Seele (SEELE): 31 October 2019 (or earlier) Public Network Mainne launch has been moved to Oct 31 . Howdoo (UDOO): 31 October 2019 (or earlier) Howdoo Live on Huawei Howdoo begins its exciting partnership with Huawei with listing as a featured app starting in October. Chiliz (CHZ): 31 October 2019 (or earlier) App Soft Launch Soft launch of Socios App by end of October. Dent (DENT): 31 October 2019 (or earlier) Loyalty Program “Afterburner loyalty program launch for all 21,6 Million mobile #DENT users will be in October!” IceChain (ICHX): 31 October 2019 (or earlier) Wallet Release IceChain releases wallet during October. Chiliz (CHZ): 31 October 2019 (or earlier) New Partnerships New sports and new teams joining Socios (+more updates and events) will be announced in the upcoming weeks. Horizen (ZEN): 31 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. PCHAIN (PI): 31 October 2019 (or earlier) New Website No additional information. IOST (IOST): 31 October 2019 (or earlier) New Game on IOST “Eternal Fafnir, a new role-playing game developed by INFUN is coming to you in Oct.” Achain (ACT): 31 October 2019 Mainnet 2.0 Launch “… The main network is officially scheduled to launch on October 31.” Mithril (MITH):31 October 2019 Burn “MITH burn will take place on 2019/10/31 2pm UTC+8. “ Aergo (AERGO): 31 October 2019 (or earlier) Aergo Lite V1.0 Release AergoLite, which brings blockchain compatibility to billions of devices using SQLite, released during October 2019. TE-FOOD (TFD): 31 October 2019 (or earlier) Complementary Product “Development of a new, complementary product with a new partner, which we hope to be launched in September-October.” Edge (DADI): 31 October 2019 (or earlier) Full Open Source Code base for the network fully open-sourced in September or October. BlockStamp (BST): 31 October 2019 (or earlier) ASIC Miner Prototype In orderr to ensure BlockStamps continued decentralization, we will release a BST ASIC miner for testing. Perlin (PERL): 31 October 2019 (or earlier) SSA Partnership “Perlin has partnered with the Singapore Shipping Association to create the International E-Registry of Ships (IERS)” Skrumble Network (SKM): 31 October 2019 (or earlier) Exchange Release “3rd dApp: Exchange Release,” during October 2019. EDC Blockchain (EDC): 31 October 2019 (or earlier) Blockchain Marketplace “As you already know, our ECRO blockchain marketplace is ready for release, and will open to the global community in October!” BlockStamp (BST): 31 October 2019 (or earlier) ASIC Miner Prototype In orderr to ensure BlockStamps continued decentralization, we will release a BST ASIC miner for testing. XinFin Network (XDCE): 31 October 2019 Homebloc Webinar “XinFin — Homebloc Webinar 2019” from 9–10 PM. Akropolis (AKRO): 31 October 2019 (or earlier) Alpha Release “Delivers the initial mainnet implementation of protocol. All building blocks will be united to one product.” Hyperion (HYN): 31 October 2019 (or earlier) Economic Model The final version of the HYN Economic Model launches in October.

Encrypted project calendar(November 1, 2019)

INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019. VeChain (VET):”01 November 2019 BUIDLer Reunion Party BUIDLer Reunion Party in San Francisco from 8–11 PM. uPlexa (UPX): 01 November 2019 Steadfast Storm — PoS/PoW split (Utility nodes ie. master nodes) — Upcoming Anonymity Network much like TOR — Privacy-based DApps — Reduced network fees. Enjin Coin (ENJ): 01 November 2019 MFT Binding “ICYMI: On Enjin Coin’s 2nd anniversary (November 1), Enjin MFTs will be bound to hodlers’ blockchain addresses…” Auxilium (AUX):01 November 2019 AUX Interest Distribution Monthly interest distribution by Auxilium Interest Distribution Platform for coinholders. Also supports charity. Havy (HAVY):01 November 2019 Token Buyback “Havy tokens buyback, Only in 1 exchange between Idex, Mercatox & Hotbit. The exchange depends on the most lower sell wall.” Egretia (EGT): 01 November 2019 Global DApp Contest SF 2019 Egretia Global DApp Contest in San Francisco.

Encrypted project calendar(November 2, 2019)

Kambria (KAT): 02 November 2019 VietAI Summit 2019 Kambria joins forces with VietAI for the annual VietAI Summit, with top experts from Google Brain, NVIDIA, Kambria, VietAI, and more!

Encrypted project calendar(November 4, 2019)

Stellar (XLM): 04 November 2019 Stellar Meridian Conf. Stellar Meridian conference from Nov 4–5 in Mexico City. Cappasity (CAPP): 04 November 2019 Lisbon Web Summit Lisbon Web Summit in Lisbon, Portugal from November 4–7.

Encrypted project calendar(November 5, 2019)

Nexus (NXS): 05 November 2019 Tritium Official Release “Remember, Remember the 5th of November, the day Tritium changed Distributed Ledger. Yes, this is an official release date.” NEM (XEM): 05 November 2019 Innovation Forum — Kyiv NEM Foundation Council Member Anton Bosenko will be speaking in the upcoming International Innovation Forum in Kyiv on November 5, 2019. TomoChain (TOMO): 05 November 2019 TomoX Testnet “Mark your calendar as TomoX testnet will be live on Tuesday, Nov 5th!” aelf (ELF): 05 November 2019 Bug Bounty Program Ends On Oct 24th, 2019 aelf’s biggest bug bounty will launch with a large reward pool. The event will run for almost 2 weeks.

Encrypted project calendar(November 6, 2019)

STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th. KIM/Kimcoin: Kimcoin (KIM) Bitfinex will be online at KIM on November 6, 2019 at 12:00 (UTC).

Encrypted project calendar(November 7, 2019)

XRP (XRP): 07 November 2019 Swell 2019 Ripple hosts Swell from November 7th — 8th in Singapore. BTC/Bitcoin: Malta The A.I. and Blockchain summit will be held in Malta from November 7th to 8th.

Encrypted project calendar(November 8, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th. IOTX/IoTeX: IoTex (IOTX) will participate in the CES Expo on November 08

Encrypted project calendar(November 9, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland. HTMLCOIN (HTML): 09 November 2019 (or earlier) Mandatory Wallet Update Mandatory Wallet Update: there will be a soft fork on our blockchain. This update adds header signature verification on block 997,655.

Encrypted project calendar(November 11, 2019)

PAX/Paxos Standard: Paxos Standard (PAX) 2019 Singapore Financial Technology Festival will be held from November 11th to 15th, and Paxos Standard will attend the conference. Crypto.com Coin (CRO): and 3 others 11 November 2019 Capital Warm-up Party Capital Warm-up Party in Singapore. GoldCoin (GLC): 11 November 2019 Reverse Bitcoin Hardfork The GoldCoin (GLC) Team will be “Reverse Hard Forking” the Bitcoin (BTC) Blockchain…”

Encrypted project calendar(November 12, 2019)

BTC/Bitcoin: The CoinMarketCap Global Conference will be held at the Victoria Theatre in Singapore from November 12th to 13th Binance Coin (BNB) and 7 others: 12 November 2019 CMC Global Conference “The first-ever CoinMarketCap large-scale event: A one-of-a-kind blockchain / crypto experience like you’ve never experienced before.”

Encrypted project calendar(November 13, 2019)

Fetch.ai (FET): 13 November 2019 Cambridge Meetup “Join us for a @Fetch_ai #Cambridge #meetup on 13 November @pantonarms1.” Binance Coin (BNB) and 5 others: 13 November 2019 Blockchain Expo N.A. “It will bring together key industries from across the globe for two days of top-level content and discussion across 5 co-located events…” OKB (OKB): 13 November 2019 Dnipro, Ukraine- Talks Join us in Dnipro as we journey through Ukraine for our OKEx Cryptour on 11 Nov. Centrality (CENNZ): 13 November 2019 AMA Meetup “Ask our CEO @aaronmcdnz anything in person! Join the AMA meetup on 13 November in Singapore.” OKB (OKB): 13 November 2019 OKEx Cryptotour Dnipro “OKEx Cryptour Ukraine 2019 — Dnipro” in Dnipro from 6–9 PM (EET).

Encrypted project calendar(November 14, 2019)

BTC/Bitcoin: The 2019 BlockShow Asia Summit will be held at Marina Bay Sands, Singapore from November 14th to 15th.

In the past two days, there were heavy swing moves in BTC from the $7,500 support against the US Dollar. The BTC/USD pair rallied more than 20% and broke many hurdles near $8,500 and $9,000.
Moreover, there was a close above the $8,500 resistance area and the 100 simple moving average (4-hours). Finally, the price rallied above the $10,000 resistance and traded close to the $10,600 resistance area.
However, the bulls failed to remain in control and a top was formed near $10,591. Later, there was a strong downside correction below the $10,000 level. The price traded below the 23.6% Fib retracement level of the rally from the $7,425 swing low to $10,591 high.
Review previous articles: https://medium.com/@to.liuwen

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Crypto Rollercoaster: Explaining the Recent Market Performance

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

Causation Between News and Value?

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

Looking at the Market

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

Additional Studies and Observations

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

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

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

The Market Future & ICOs as a ‘Bubble’

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

Court of the Crypto Kings

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

Looking at New Securities

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

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FCoin Sharing Session Q&A — 07/23/2018

FCoin Founder Mr. Zhang Jian Addressed the Most Controversial Questions about FCoin since its Launch.
(July 23, 2018) FCoin held an online media Q&A session on Monday with its founder, Mr. Zhang Jian replying the most controversial questions on FCoin, a digital asset trading platform that was launched barely two months ago but has already become the most talked about phenomenon in the industry.
These controversial topics include FCoin’s efforts in token-reforming, the general concept of token economy, the fluctuation of FCoin price and response to the recent negative comments and accusations made by Binance on FCoin. A complete Q&A could be found as below:
Q1: We have seen many new announcements issued by FCoin with lots of new concepts. Could you first elaborate on FCandy? Why do you start to return in FCandy instead of FT, what’s the strategy behind it? What do you think is the true value of FCandy and what is your expected price for it?
Answer1: Regarding FCandy, we mentioned before in our announcement that it is an assert pool in which all kinds of assets could be placed in. We actually have placed lots of FTs during the first round. What do we mean by “placing”, basically it’s equivalent to donation and what is its true value? I think it could benefit our entire community through our donation. It is clearly stated in our announcement that any digital assets could be placed in FCandy and FCandy will be issued according to a certain proportion, but to guarantee the real asset value of FCandy. However, the assets placed in FCandy pool no longer belong to those who place the assets but to the entire community which makes FCandy vitally different from the other asset pools or various products. We designed a lot of ways to give out FCandy to our community members. It doesn’t mean that we no longer return in FT, 100% transaction fee is still returned in FT, this is our set rule which will never be changed. Which are some of the situations where we will not return in FT? Anything but “Trans-fee mining” mechanism. Because all the other mechanism is simply activities. Like our referral programs, incentive programs and etc. These are community activities with the aim to motivate the communities and bring more benefits, so these are the responsibility that FCandy should assume. I do not need to elaborate on the value of FCandy. I encourage everyone to see the front page of FCandy in which the amount of assets are clearly indicated. In the future, a large number of project participators will place their assets into this pool. We will also initiate voting system and community members could vote on whether we should sell part of the assets and these sold asserts will belong to FCandy holders, similar to the concept as dividends. But this will be a plan in the far future, not to be realized recently. Regarding the price of FCandy, I cannot comment on this. Based on the asset pool, everyone can gauge its reasonable price range.
Q2: What’s the latest listing rules? Is the new FOne trading zone transferring the token-listing right to the certified organizations? What’s the FCoin’s standard in selecting a certified organization? What’s the difference in the responsibilities and rights of these certified organizations compared to the ones in the Stock market?
Answer 2: Some adjustments were made on the listing rules with the launch of FOne. What made us launch FOne? Actually, we have encountered some problems when doing GPM, i.e there is a long list of projects waiting to be listed which is far beyond the capacity of the platform itself. Most importantly, we encounter the problems of verifying its authenticity. Hence, in order to make the entire mechanism work better, the essence of FOne is to let FCoin certified organizations to screen quality projects. Every certified organization has its own zone that has the right to list tokens and set its own listing rules. We provide service and technical support to various certified organizations. This relationship will guarantee a healthy growth of FOne. As for the rights and responsibilities, these are vitally important as well. Since these trading zones are opened by certified organizations, they have the responsibility to guarantee the quality of its listing projects. FCoin retains the rights to review and verify the performance of these certified organizations and details will be released soon. We really hope that good projects could stand out from this innovative mechanism and this will help motivate the entire industry. Regarding the selection standards for the certified organizations, these are mainly the mainstream token fund in the industry. Easy to get in but difficult to get out. First of all, these organizations need to have certain reputation in the industry. We welcome them to join us as our certified organizations in the beginning but more strict standards will be launched later. In addition, we will also have control over the organization list and eliminate those who are not up to our standards. We will soon announce the list of our second batch of certified organizations. The entire crypto industry is not yet mature and it’s currently a mix of everything. We are trying to introduce step by step some mature models to break through the mess. We are on our way to a revolutionary future
Q3: Is FOne the trial zone of token-reforming for FCoin? What is the difference about listing rules and circulation mechanism between Main Board A & B? As a mature product or company, what are the necessary steps for token-reforming and what are the biggest difficulties and challenges during the process? Are there any successful cases on token-reforming before? To a mature community, the compliance and legitimacy of listing can be a sensitive topic, is this going to be a key obstacle for the improvement of token-reforming trial zone? How will you solve this problem? In your opinion, which industries will make progress first during Coin-reforming trial zone?
Answer 3: The answer to the first question is NO. It has clearly been stated in the announcement that token-reforming is not made by FOne. Token-reforming is in main Board C, right now we have main Board A & B; the mature blockchain projects are in main board A, and emerging projects in board B, while the token-reforming projects are in board C. FOne is the successor of the previous Innovation Zone on GPM with the aim to support startup projects. After the upgrading of the overall positioning, GPM will focus on supporting the long-term projects while the startup projects will move to FOne. FOne will transfer the listing power to certified organizations in order to attract more quality projects to get in in the early stage. As a matter of fact, token-reforming is not all that easy. We have just released an announcement on which a new project was applying to get listed on our main board C, of course there are many other projects doing so as well. We have to consider the project in a comprehensive manner, from the preparation, the qualification of the projects to the business model or the maturity of the business Situations(applications). There might be two ways for reforming, such as QOS, the one project that we have been observing and providing the technical support. It has applied to get listed on our main board C. QOS is a typical blockchain project with mature business applications and massive users, along with a solid preparation process. This kind of project is well prepared, that’s why it can enter the final verification and listing schedule stage very soon; as for some other projects, although they come from a mature company, they do not really understand the token economy, the listing process might take longer. In my opinion, we have to go through an important process to acknowledge the token economy, token and coin; Second, about how reforming can make a great influence, and connect its previous- designed products with business module, aligned them well and solve its previous conflicts of interest. That’s why reforming is quite difficult and challenging. To sum up I think there are two biggest difficulties for reform. First is the whole design of token economy model — it means completely different for different products or companies, even with different approaches , thus, quite challenging. Second is the overall interest arrangement. A mature product must face mature interest arrangement, including shareholder structure, existing resources and how to solve these problems. It requires of massive communication as well as knowledge and determinations to get all these problems solved. These two are the most difficulties we currently face. For the sensitive question about compliance, I think all innovations will face a certain kind of risk, the more subversive the innovation, the higher risk it may face, especially like token economy, as its target and core is to change the market relationships. It’s quite subversive and will meet lots of challenges never that have never been met before. Why people like to talk about the first person who eat the crab? If there is no challenges, people would just repeat doing things they have done like a hundred times before, but it’s not the case here. If you are willing to seize the opportunity of the new economy, you need to take risks and accept the challenges. I think it’s a trend for the future and it’s unstoppable. In addition, I don’t think it’s a key obstacle for a product or a company that are determined to explore in this direction. What I mentioned before are quite essential, firstly it has to be in the internet industry and financial industry, or the combination of these two, such as the finance technology. There are lots of opportunities within, so are in some other industries.
Q4: There are several institutions dabbling in Blockchain+Insurance model, however, this model has still not been widely applied. Therefore, will this new Insurance community FInsur just a publicity stunt? Is “Insurance is mining “ just some benefits to attract users, or is it a mutual insurance based on blockchain technology? How does this model work?
Answer 4: FInsur for sure is not publicity stunt. A lot of people doubted about FCoin when it first came out, is FCoin a publicity stunt? With the concept of “Trans-fee mining” being widely spread and recently became a trend, it is obvious that we are not a publicity stunt, otherwise it won’t show such a strong vitality. Therefore, the concept of “insurance is mining “is quite simple. I would like to repeat it again, it’s similar to FCoin essentially. What is the concept of “Trans-fee mining”? Clients and users of an exchange are the traders. As the core concept of token economy, I think the main targets of business service, is like the relationship between an exchange and its users, which is in opposite relationship. We hope that after the reforms by token economy, it can be an untied relationship, even for the sake of common interest. So let the traders be the shareholders of FCoin, that is the essence of “Trans-fee mining”. Likewise, let the insurance applicant become the shareholder of an insurance company, or at least make their interest consistent rather than conflicting (money-making vs money-losing), which is a long-term target for us, and also my initial intention. It’s hard to image vehicles on road without insurances. That’s why there is compulsory insurance like Compulsory Traffic Insurance and commercial insurance that we must pay. It also applies to ourown digital currencies & assets. Therefore, I don’t think FInsur is a publicity stunt, but will be a benchmark for innovation in this industry and bring in massive benefits.
Q5: How about the operation of stabilization funds launched by FCoin? Is this stabilization funds really effective on regulating the dramatic market fluctuation and keeping the price of FT stable?
Answer 5: We have just wrapped up a one-month life cycle of the Stabilization fund Phase I and it is already in the process of balancing, not running any more. I am not the one who has proposed the concept of stabilization fund. I have repeatedly said that for an emerging trading product or an emerging market, especially when it has great innovations, nobody knows how to price it correctly in the early stage. It will also suffer from all kinds of malicious attacks and various rumors under such a complicated market situation. Hence, the market fluctuations will be very dramatic in the short term. The stabilization fund was launched in this context. Can this fund really keep the market volatility stable? This mainly depends on the factors of market volatility and various other situations. The stabilization fund will certainly ease the dramatic fluctuations of the market. But will the price stop to fluctuate with the funds? Or will the price not rise and fall sharply? This is uncertain. Since the market price, especially short-term market behavior, is very complicated and thus very difficult to predict. So the fund can only ease the dramatic fluctuations. As some unstable factors are gradually eliminated, or as the platform matures, these unstable factors will be disappearing slowly. Say, there are huge trust issues in the earlier stages, however, as the platform continues to grow, these problems will be reduced accordingly. Now everyone feels that FCoin is a very reliable platform which has been working so hard to make the platform, the community and the whole ecosystem bigger. In this case, those difficulties that we encounter before won’t exist anymore. Our risk control in the early stage might not be that sharp, leading to the existence of some malicious short-selling and other hostile situations. With the gradual improvement and maturity of our backend monitoring system, I believe there will be less risks in this aspect. Therefore, the whole market will gradually become more healthy in the long run.
Q6: You mentioned that the explosive effect of FCoin is a victory for the “tokenomics.” Can you share with us your understanding of the “tokenomics”? What is its strong driving force? What distinguishes it from the traditional business model and incentive mechanism?
Answer 6: It is very hard for me to talk about my understanding of the tokenomics, since this topic is too big. But I can talk about some key points, such as what I just mentioned, “What is the strong driving force?” I just mentioned that the distinguished difference between the structure of the tokenomics design and the traditional business model and incentive mechanism is the reversal of the production relationship. How to reverse? As mentioned earlier, producers and consumers are a pair of relationships. The common form of the Internet is the relationship between the platform and its user. In fact, they are all similar. That is, the relationship between a service provider and a client, or the relationship between a product provider and a consumer. Under the traditional business model, this group of relationships must be antagonistic at the level of interests. Because the mission of a commercial organization is to make money. They earn money from consumers or users. Under the traditional business model, you buy any goods, or you consume any service, the only relationship between you and the service provider and the producer of the goods is that you pay him. Let us think about the reason why this commercial system can exist. It is because these users are paying so that the commercial system can exist. In other words, these consumers and users are the basis for the existence of this commercial system. But if this commercial system develops bigger, then it has nothing to do with the users which are the basis and premise of the existence of this commercial system. I think this is the problem of the traditional business model, and it will definitely face a big upgrade in the future. The big upgrade has started slowly now, and I think its solution is tokenomics. FCoin is such a practice of tokenomics. We found that as FCoin grows and matures, traders gradually become shareholders of FCoin. The trader not only becomes a user of the platform, but also contributes fees and transactions. At the same time, he can also get 100% return of the exchange’s “shares” FT. The returned FT can enjoy FCoin’s income distribution forever, and it is 80% of the income distribution. This is unimaginable in the traditional capital market. Let me give you an example. In the traditional capital market, basically everyone does not pay attention to dividends because they are so little. There are too many companies that don’t pay dividends all along the year. Everyone can check the dividends of the traditional market which are so little and nobody concerns about the dividends. The timeliness of dividends distribution is also executed poorly. As the price of crypto currency fluctuates dramatically, users do not feel the power of our model in the early stages. With the maturity of FCoin, they feel that our model of income distribution is extremely revolutionary. Firstly, its proportion of dividends distribution is so large. How about the traditional listed companies? They distribute neither revenues nor profits. It is possible that the companies might need to keep enough cash for development, so they do not distribute dividends. FCoin directly distribute income to users, the vast majority 80% of our revenues on a daily basis. This is an absolutely revolutionary concept in the traditional capital market. Because the entire concept of the so-called financial system and finance of the crypto industry has not yet been established, and it is still relatively chaotic, the crypto industry is still at a very early stage for the pricing and cognitions. The creation and power of FCoin and FT takes time to show, as I always say “let the bullets fly for a while.” The same is true for FInsur. I hope that in the future, various new models based on the creation of the tokenomics or the transformation of the original model will have the power to make our customers consistent with our interests . I have to say one more thing. I think that this power is actually much underestimated. Because once the production relationship changes, once the service provider and the client are in the same interests, the whole decision-making process, the starting point and mentality of decision-making, all community-based architecture and all future mechanism design and gameplay will change. I am appreciating this in a more in-depth sense now. Therefore, the future of the tokenomics will definitely show great vitality. It will have a huge impact on the original business model, commercial design and corporate system. This is my judgment on the future.
Q7: Many exchanges are allegedly using bots wash trading and their users are mostly zombie users who have no practical effect. Could you please tell us about how would FCoin gradually increase the number of real users so as to make the platform grow in a more healthy manner?
Answer 7: Time will prove everything. We are constantly upgrading and innovating. Everything we do is to make our various mechanism work in a more robust way. The number of FCoin users and daily transactions continue to grow and FCoin is definitely on the right track. Many people are still accusing us of hiring bots to do wash trading. As our platform matures, there is more Quantitative transaction going on which provides real benefits for our community members. If you pay attention to our recent changes on the platform, you could definitely feel it.
Q8: What has FCoin revolutionized the industry in terms of the rules, both the unspoken rules and the apparent rules?
Answer 8: First, I will talk about the unspoken rules. The biggest difference between FCoin and all the other exchanges is that when you open our front page, you could clearly see that almost all our data are transparent and as we continue to develop our products and enhance users experiences, the level of our transparency will only be elevated accordingly. This is something you cannot imagine in traditional industries. No company, in our times, would announce its revenue because they do not need to distribute their profits to their users. But we are different, we cannot fake our data. If you are a black box i.e a company that does not need to disclose data to the public, you actually have the opportunity to fake data. I’ve said many time before that it was ridiculous to accuse FCoin of bots wash trading. We simply cannot fake any data as otherwise we will not have enough funds to be distributed to our users. All our data is real and transparent which brings the first revolutionary change of rules in the industry. About the apparent rules. Many users said that FCoin still made a lot of money after they saw the platform had used all kinds of algorithms. But what I want to point out is that why not take a look at other exchanges that make huge amount of money but still give back nothing to its users? On our side, FCoin distribute 80% of daily revenues to its users and for quite a long period of time, even 100%. After the launch of FCandy, we spend a majority of platform’s daily revenue to buy back FTs which later on are distributed to its community members. I hope you can look further with FCoin. FT certainly has its market cap, but so long as you hold FTs even for just a day, you will be able to get your daily dividend from that day. That’s just the beginning of how FCoin is going to revolutionize this industry. Stay tuned!
Q9: Mr Zhang, you always say that the market will eventually see the value of FT, but the price of FT has been dropping drastically non-stop. Why is there a vast difference between what you see in the value of FT and what the market see it?
Answer 9: FCoin has just been launched for less than 2 months. It’s way too early to talk about the value of a new born thing. For instance, a lot of people asked me about Bitcoin many years ago, at a time when the price of Bitcoin kept dropping from 8,000 RMB to 900RMB. I told them that the value of Bitcoin needed to be evaluated in a 4-year full circle, not just for a few months. If you use a 4-year full circle to draw the candlestick of Bitcoin, what will you see? The short-term price is unpredictable and is being influenced by many factors in the short term, like the market supply, all kinds of different judgments, disapprovals of new things in the early days and even rumors, but in the long run, the price is surely determined by its value. I have some data in FCoin’s front page, our dynamic P/E ratio is 0.56 as of today. You can go to any A-share market to check their P/E ratio, especially those innovative internet companies or high tech companies and judge by yourself. As I mentioned earlier, we have upgraded our Incentive programs, it is now returned with FCandy instead of FT. Because FCandy is highly linked with any activities that benefit the entire community members. This will be our future principles. In the meantime, transaction fee is still returned 100% as in FT and this is some ething, I have reinforced many times, that we won’t change. Why? Because this is our basic model, everything that FCoin is based on which is to make traders as the shareholders of FCoin.
Q10: Mr. Zhang, my questions might come across as a bit of sharp. Two days ago, FCoin announced on its website that the price of FT has been fluctuating drastically and later on, some media reported that the price was being manipulated by a professional team called “Ghost in the Dark” and implied that it had something to do with Binance. Miss He Yi from Binance accused FCoin of paying for media to write negative articles about Binance. Do you have any comments on this? In addition, Mr. Zhao Chang Peng (CZ) from Binance remarked during a media Q&A session in Seoul that “FCoin won’t last long as it is constantly selling new tokens but the price of them keep on dropping.” Do you have anything to say to his remarks?
Answer 10: Your so called sharp questions are actually not sharp at all. First of all, we announced officially on our website that the price of FT encountered abnormal fluctuations because we had found malicious attack from a team that was deliberately short-selling FT and we have proof of it. That’s why some immediate action has been taken to limit the sales order in 3 trading pairs which effectively destroy the botting programming designed by that professional team. As for the media report, I do not want to comment on it, but they did report the same to us through their investigations. About CZ’s comments? Actions speak louder than words. Why does he keep on talking about me if I am not threatening him? This is weird, let the fact speak for itself.
Q11: FCoin has been launched for only 2 months but developed really rapidly with trading volumes topping the chart while it took Binance 3 months to become №1 with real trading volumes. FCoin is very strong with ecosystem, but users’ experience is really bad. No trading depth and the webpage get stuck all the time. The launched app version (still in beta) is even worse than a third-party app while it takes forever to launch an official version. My question is, as a digital trading platform, shouldn’t Trading experiences be respected and focused?
Answer 11: Your question is quite sharp. Trading, in many industries are indeed not well respected, but for FCoin, we have been trying our best to perfect it. There is a process for everything to grow in maturity. If it is something great, it is bound to be less mature in the early stage. More patience please and we welcome everyone to supervise and support us.
[More to the question] — My question of trading not being respected has another sense to it in terms of users’ experience. This should always be put in the priority but with FCoin, it is not the case. It seems that there are always be put in the priority but with FCoin, it is not the case. It seems that there are always things far more important than users’ experience but shouldn’t it be the core for any exchanges?
Answer 11: Apologies for my misunderstanding of part of your question. As for the priority, if you have to choose between platform’s security/stability and users’ experience, which one would you choose? We are still in the initial stage and have been developing really fast. Therefore, we have to contribute tremendously to the security and stability of the platform. The core of a mature exchange is not only about users’ experience. As we all know, we cannot really see an exchange model with the traditional capital market. When you are trading in stock exchanges, it’s the brokers that you see, not the exchanges. That’s why I think currently for us the main focus is still to improve our core strength and in the meantime, to perfect the trading experiences along the way.
submitted by FCoinOfficial to FCoin_Official [link] [comments]

Hubi Global Alliance Open the exchange with one click. Will the next CZ be you?

Hubi Global Alliance Open the exchange with one click. Will the next CZ be you?
With the growth of digital currency price in 2017, the industry of blockchain has attracted more and more public attention. Since 2013, CZ has been involved in the encrypted currency project and realized the prospects of the industry. He sold his house and invested all the money into digital currency.
In July 2017, CZ set up its own digital currency exchange, Binance, and soon received tens of millions of dollars in Angel Investment from FUNCity capital and BLACK HOLE. Subsequently, in its first operation report published in January this year, Binance announced that more than 6 million registered users worldwide have been registered on the platform, of which more than 97% are foreign users and cover more than 180 countries worldwide. In just six months, CZ has created nearly 10 billion dollars in wealth.
At the same time, in the first list of digital currency billionaires released by Forbes in February this year, CZ, the founder of bitcoin, ranked the third with a net worth of over 10 billion yuan, becoming the first Chinese to be listed in the top 10 and appearing on the cover of the current Forbes magazine.
With the crazy rise of digital currency ' s market value, digital currency trading platform has become one of the most profitable businesses in the blockchain industry. Exchanges are undoubtedly the best choice for gold panning in the sector of blockchains. Hubi Global Alliance (HBGA) , opening the exchange with one button. Will the next CZ be you?
Hubi Global Alliance (HBGA) makes it easy for everyone to own exchanges
Now applying to join the HBGA super nodes, it only needs 5700 USDT to open an exchange with exclusive operation rights, and can be returned 100%. Everyone can become a super node.
https://preview.redd.it/o1cg1ixfmac21.png?width=558&format=png&auto=webp&s=246692fe12eabc0621560891b387c3e262c165b5
Hubi Global Alliance (HBGA) is a super-node exchange alliance initiated by Hubi. Unlike other exchange alliances, Hubi Global Alliance pioneered the "Exchange Alliance 3.0" model with very low entry threshold. Hubi Global Alliance Exchange Alliance can not only expand and radiate its coverage in the digital currency industry in a short time, but also quickly gather all strengths in the industry to become a stronger and larger exchange alliance.
Each exchange of Hubi Global Alliance is built on a safe and reliable "new digital currency trading system", which can easily achieve cross-exchange transactions of digital currency. Super nodes can share transaction depth and liquidity each other.
https://preview.redd.it/w61lxl0jmac21.png?width=557&format=png&auto=webp&s=3ed2f7fb81f8feab30b479d207d22a18345d492d
First, the user orders of each super-node can be prioritized in their own exchanges for automatic matching. Then, if orders are not completed in time, the system will automatically merge and complete transactions between super-nodes without active application. Compared with other exchange alliances, Alliance Super-nodes enjoy equal rights and interests. By sharing transaction depth and liquidity among super-nodes, the transaction rate of alliance users'orders can be greatly improved, and the global circulation of alliance transaction service ecosystem can be formed.
At the same time, Hubi Global Alliance provides a set of public OTC systems for bank certification, financial level security and encryption, and shares the depth of OTC transactions. The alliance super node can provide users with efficient, safe and fast access fee service without expending a lot of energy to recruit OTC service providers.
For practitioners, the two major indicators of "convenience of access to capital" and "transaction rate of user orders" are important indicators to measure the depth of user experience of an exchange. Poor experience can directly affect the transaction volume of an exchange. Hubi Global Alliance provides fast access to cash with the "Public OTC System". The system design that enables super nodes to share transaction depth and improve the liquidity between them can not only greatly improve the transaction rate of user orders, but also greatly enhance the competitiveness of Hubi Global Alliance super nodes.
Hubi Global Alliance has made remarkable achievements in breaking into the field of digital currency exchanges with the "Pioneering Exchange Alliance 3.0 Model" and the " Pioneering Digital Currency Trading System".
Currently, Hubi Global Alliance 24 hours total transaction volume is $208756501, the total number of alliance users has reached 712710 people, and is still growing rapidly.
https://preview.redd.it/m6bqfndlmac21.png?width=556&format=png&auto=webp&s=2c165de140698d57c1bc7e62ca2153786d1fd8bb
Hubi Global Alliance super nodes enjoy the ecological bonus of the Alliance, and carries the corresponding rights and dividends through the HUB.
HUB (Hubi Blockchain) eco-currency is issued by HB Global Blockchain Foundation Limited (Singapore) in compliance. As the global token connecting Hubi eco-system, HUB (Hubi Blockchain) carries the consensus of ecological rights, circulation attributes and value. HUB no private placement, no ICO, no airdrop, no gifts, and never free. The total number of its issued constant 5 billion, and promised never additional.
Hubi Global Alliance super nodes can enjoy Alliance interests and Alliance ecological dividends. The specific rights and interests are as follows:
Joint Vote on Coin listing
Hubi Global Alliance launched the voting consensus mechanism. The super nodes of Hubi Global Alliance have a high degree of consensus, taking HUB as the equity units. The alliance jointly vote on the coin listing, and the users of the alliance can get the currency transaction fees of the project, the voting is mining.
HUB holders can enjoy the rights of Joint Vote on Coin listing via Hubi Global Alliance.
Node as mining in Hubi Global Alliance
Hubi Global Alliance super nodes have a high degree of consensus, sharing the Alliance ecological dividend, and can obtain the corresponding Alliance ecological dividend according to the total number of circulating HUB held in the node, so as to realize the node as mining.
Hubi Global Alliance super node can enjoy mining bonus. Mining dividends are as follows:
Mining bonus of the super node = (total alliance transaction fee *20%) *50%* (total HUB holdings for the super node/all available HUB).
HUB holders can receive " Node as mining " bonus from Hubi Global Alliance.
https://preview.redd.it/d5fij46nmac21.png?width=556&format=png&auto=webp&s=2102efcc9582b65cb899d13d7d25ff0f9e230cf7
Hubi Global Alliance recruits global super nodes
Hubi Global Alliance is recruiting super nodes worldwide. If you want to easily own your exclusive digital currency exchange, don't miss this great opportunity!
Now apply to join Hubi Global Alliance Global super nodes, zero entry threshold, 100% return. For details please contact Hubi, or add business consultation (WeChat ID: l_zhen1019).

https://preview.redd.it/omsbjlatmac21.png?width=557&format=png&auto=webp&s=095be6824031feb8bf1aabe185c687a5bedb5dfc
We welcome more blockchain institutions to become super nodes of Hubi Global Alliance, to jointly build Hubi ecology and share the ecological bonus of the Alliance.
submitted by hubi888 to u/hubi888 [link] [comments]

How to easily open a digital currency exchange? Hubi Exchange Alliance is the best choice

How to easily open a digital currency exchange? Hubi Exchange Alliance is the best choice
With the growth of digital currency price in 2017, the industry of blockchain has attracted more and more public attention. Since 2013, CZ has been involved in the encrypted currency project and realized the prospects of the industry. He sold his house and invested all the money into digital currency.
In July 2017, CZ set up its own digital currency exchange, Binance, and soon received tens of millions of dollars in Angel Investment from FUNCity capital and BLACK HOLE. Subsequently, in its first operation report published in January this year, Binance announced that more than 6 million registered users worldwide have been registered on the platform, of which more than 97% are foreign users and cover more than 180 countries worldwide. In just six months, CZ has created nearly 10 billion dollars in wealth.
At the same time, in the first list of digital currency billionaires released by Forbes in February this year, CZ, the founder of bitcoin, ranked the third with a net worth of over 10 billion yuan, becoming the first Chinese to be listed in the top 10 and appearing on the cover of the current Forbes magazine.
With the crazy rise of digital currency ‘ s market value, digital currency trading platform has become one of the most profitable businesses in the blockchain industry. Exchanges are undoubtedly the best choice for gold panning in the sector of blockchains. Hubi Global Alliance (HBGA) , opening the exchange with one button. Will the next CZ be you?
Hubi Global Alliance (HBGA) makes it easy for everyone to own exchanges
Now applying to join the HBGA super nodes, it only needs 5700 USDT to open an exchange with exclusive operation rights, and can be returned 100%. Everyone can become a super node.

https://preview.redd.it/4cz2x9isuab21.jpg?width=600&format=pjpg&auto=webp&s=10742d6576bf64c1014456b08c5afa8a1e8e0868
Hubi Global Alliance (HBGA) is a super-node exchange alliance initiated by Hubi. Unlike other exchange alliances, Hubi Global Alliance pioneered the “Exchange Alliance 3.0” model with very low entry threshold. Hubi Global Alliance Exchange Alliance can not only expand and radiate its coverage in the digital currency industry in a short time, but also quickly gather all strengths in the industry to become a stronger and larger exchange alliance.
Each exchange of Hubi Global Alliance is built on a safe and reliable “new digital currency trading system”, which can easily achieve cross-exchange transactions of digital currency. Super nodes can share transaction depth and liquidity each other.

https://preview.redd.it/fh12a13tuab21.png?width=600&format=png&auto=webp&s=8650d342b1999886ad11dc6c4520224c80a4d9a3
First, the user orders of each super-node can be prioritized in their own exchanges for automatic matching. Then, if orders are not completed in time, the system will automatically merge and complete transactions between super-nodes without active application. Compared with other exchange alliances, Alliance Super-nodes enjoy equal rights and interests. By sharing transaction depth and liquidity among super-nodes, the transaction rate of alliance users’orders can be greatly improved, and the global circulation of alliance transaction service ecosystem can be formed.
At the same time, Hubi Global Alliance provides a set of public OTC systems for bank certification, financial level security and encryption, and shares the depth of OTC transactions. The alliance super node can provide users with efficient, safe and fast access fee service without expending a lot of energy to recruit OTC service providers.
For practitioners, the two major indicators of “convenience of access to capital” and “transaction rate of user orders” are important indicators to measure the depth of user experience of an exchange. Poor experience can directly affect the transaction volume of an exchange. Hubi Global Alliance provides fast access to cash with the “Public OTC System”. The system design that enables super nodes to share transaction depth and improve the liquidity between them can not only greatly improve the transaction rate of user orders, but also greatly enhance the competitiveness of Hubi Global Alliance super nodes.
Hubi Global Alliance has made remarkable achievements in breaking into the field of digital currency exchanges with the “Pioneering Exchange Alliance 3.0 Model” and the ” Pioneering Digital Currency Trading System”.
Currently, Hubi Global Alliance 24 hours total transaction volume is $208756501, the total number of alliance users has reached 712710 people, and is still growing rapidly.

https://preview.redd.it/6bt197ktuab21.png?width=600&format=png&auto=webp&s=b3a706abe3f0d47292c75c822f1951b0183f84f7
Hubi Global Alliance super nodes enjoy the ecological bonus of the Alliance, and carries the corresponding rights and dividends through the HUB.
HUB (Hubi Blockchain) eco-currency is issued by HB Global Blockchain Foundation Limited (Singapore) in compliance. As the global token connecting Hubi eco-system, HUB (Hubi Blockchain) carries the consensus of ecological rights, circulation attributes and value. HUB no private placement, no ICO, no airdrop, no gifts, and never free. The total number of its issued constant 5 billion, and promised never additional.
Hubi Global Alliance super nodes can enjoy Alliance interests and Alliance ecological dividends. The specific rights and interests are as follows:
Joint Vote on Coin listing
Hubi Global Alliance launched the voting consensus mechanism. The super nodes of Hubi Global Alliance have a high degree of consensus, taking HUB as the equity units. The alliance jointly vote on the coin listing, and the users of the alliance can get the currency transaction fees of the project, the voting is mining.
HUB holders can enjoy the rights of Joint Vote on Coin listing via Hubi Global Alliance.
Node as mining in Hubi Global Alliance
Hubi Global Alliance super nodes have a high degree of consensus, sharing the Alliance ecological dividend, and can obtain the corresponding Alliance ecological dividend according to the total number of circulating HUB held in the node, so as to realize the node as mining.
Hubi Global Alliance super node can enjoy mining bonus. Mining dividends are as follows:
Mining bonus of the super node = (total alliance transaction fee *20%) *50%* (total HUB holdings for the super node/all available HUB).
HUB holders can receive “Node as mining” bonus from Hubi Global Alliance.

https://preview.redd.it/s77wf4buuab21.png?width=600&format=png&auto=webp&s=254188963a2f4f7f54b0362ee7756fc908f20741
Hubi Global Alliance recruits global super nodes
Hubi Global Alliance is recruiting super nodes worldwide. If you want to easily own your exclusive digital currency exchange, don’t miss this great opportunity!
Now apply to join Hubi Global Alliance Global super nodes, zero entry threshold, 100% return. For details please contact: [[email protected]](mailto:[email protected]), or add business consultation (WeChat ID: l_zhen1019).

https://preview.redd.it/w4868v1vuab21.png?width=600&format=png&auto=webp&s=e3d71055a9f326123b42ff2de489d5e79267acd8
We welcome more blockchain institutions to become super nodes of Hubi Global Alliance, to jointly build Hubi ecology and share the ecological bonus of the Alliance.
Apply for One-click Exchange & Coin Listing Cooperation on High-quality Projects:
Business email: [email protected]
Business WeChat: l_zhen1019
Contact information:
Website: https://www.hubi.com/
Official WeChat: HubiGlobal
WeChat Subscription: HubiGlobalAlliance
Official QQ group: 757199968
Twitter: @hubi_com
Twitter: https://twitter.com/HubiExchange
Facebook: https://www.facebook.com/HubiExchange
submitted by newsget to u/newsget [link] [comments]

Cryptocurrency Terms And Definitions - Common Crypto Words To Know

The blockchain community is not left out when it comes to the use of jargon and phrases. The use of words that look strange to those who are not involved in crypto is totally inevitable. It’s definitely going to be difficult for anyone not in this space to understand words like “ERC20, ICO or gas. So in order to help such people out, we have made a list of the most common cryptocurrency terms and definitions. Please sit back and enjoy your ride.

Cryptocurrency Terms And Definitions
One can categorize these terms into various parts. First of all, we will deal with general cryptocurrency terms and definitions.

Blockchain
Blockchains are distributed ledgers which are secured by cryptography. Everyone has access to read the information on every blockchain which means they are essentially public databases but the data update can only be done by the data owners. In the case of blockchains, data doesn’t remain on a single centralized server, they are copied across hundreds of thousands of computers worldwide. Projects such as Ethereum, Vechain, EOS etc. fall under this class of technology.
Mining: The means of trying to ‘solve’ the next available block. One needs huge amounts of computer processing power to carry this out effectively. There is always a reward for doing this.
Mining rig: A specially designed computer that processes proof-of-work blockchains such as Ethereum. They consist of multiple high-end graphic processors (GPUs) so as to maximize their processing power.
Node: This is a computer that has a copy of the blockchain and is working to keep it in a good shape.
PoW: The full meaning of this is Proof-of-work. The Ethereum network currently makes use of this algorithm.
PoS: Its full meaning is Proof-of-stake. It is the proposed future algorithm for Ethereum. Those that own ETH will be able to lock up all or a portion of their ether for a given amount of time in order to ‘vote’ and generate network consensus instead of mining in its current form. Stakeholders will get rewards in form of ETH by doing so.
Fork: This takes places when a certain blockchain splits into two different chains. This usually happens in the crypto space when new ‘governance rules’ are infused into the blockchain’s code.
Software wallet: A crypto-currency storage that exists purely on a computer as software files. You can generate these kinds of wallets for free from diverse sources. MyEtherWallet (MEW) is one of the most popular sources around.
Hardware wallet: A device that one can securely keep cryptocurrency. People often say that these wallets are the most secure way to store cryptocurrency. Examples of the most common hardware wallet models around are Ledger Nano S and Trezor.
Cold storage: This is a way of moving your cryptocurrency from an online wallet to an offline one, as a means of safekeeping them from hack. There are a lot of ways to carry this out. Some methods that are commonly used include:
· Using a hardware wallet to store your cryptocurrency.
· By printing out the QR code of a software wallet and keeping it somewhere which is safe.
· You can also move the files of a software wallet onto an external storage device such as USB drive and keeping it somewhere safe.

Trading Related Cryptocurrency Terms And Definitions
Exchange: These are websites where people trade (buy and sell) their cryptocurrencies. Some of the popular crypto exchanges we have around include Binance, Poloniex, Bittrex etc.
Market order / market buy / market sell: A sale or purchase which is made on an exchange at the current price. A market buy acquires the cheapest Bitcoin available on the order book while a market sell fills up the most high-priced buy order on the books.
Limit order / limit buy / limit sell: These are orders which are placed by traders to buy or sell a cryptocurrency when the price reaches a certain amount. They are pretty much like ‘for-sale’ signs you see on goods.
Sell wall / buy wall: Cryptocurrency traders are able to see the current limit buy and sell points using a depth chart. The chart’s graphical representation is very much like a wall.
FIAT: Refer to a government-issued currency. An example is the US dollar.
Whale: A person who owns huge amounts of cryptocurrency.
Margin trading: This is an act of increasing the intensity of a trade by using your existing coins. It is very risky for an inexperienced trader to partake in this. Stay safe!!
Going long: This is a margin trade that gives profit if the price goes up.
Going short: It is a margin trade that gives profit if the price goes down.
Bullish: Being optimistic that the price of cryptocurrency is going to increase.
Bearish: This is an expectation that the price of cryptocurrency is going to decrease.
ATH: This simply means All-Time-High. This is the highest point that has been reached by a particular coin or token. Take for instance, Bitcoin’s ATH is about $20,000 and this was achieved around December 2017 and January 2018.
Altcoin: A word used to qualify other cryptocurrencies which is not Bitcoin. Examples of altcoins are Ripple, NEO, EOS, Vechain, Electroneum etc.
Tokens: These are ‘currency’ of projects which are hosted on the ethereum network. They raise money by issuing their own tokens to the general public. Tokens have a significant use in the project's ecosystem. Examples of tokens are Enjin Coin (ENJ), Zilliqa (ZIL), OmiseGO (OMG), Augur (REP) etc.
ICO: The full meaning is Initial Coin Offering. This is synonymous to an IPO in the non-crypto world. Startups give out their own token in exchange for Bitcoin or ether.
Shilling / pumping: An act of advertising another cryptocurrency. It is mostly done in a way that tricks as many people as possible into believing that a coin or token will get to a higher price in the future.
Market Cap: This is the total value of a cryptocurrency. To calculate this, one has to multiply the total supply of coins by the current market price. You can get a run-down of several cryptocurrency projects on Coinmarketcap.
Stable coin: This is a cryptocurrency which has an extremely low volatility. You can use a stable coin to trade against the overall crypto market.
Arbitrage: A situation where a trader takes advantage of a difference in the price of the same coin / token on two different exchanges.
FOMO: Simply means Fear Of Missing Out. That overwhelming feeling that one needs to get on board when there is a massive rise in the price of a commodity. This is also applicable in the crypto space.
FUD: Fear, Uncertainty, and Doubt. It is a baseless negativity which is spread intentionally by someone or a group of people who want the price of cryptocurrency to decrease.
FUDster: A person who spreads FUD.
Pump And Dump: This happens when an altcoin gets a ton of attention, leading to a massive increase in price, and likewise followed by a big price crash of that altcoin.
ROI: Return on Investment. The percentage profit a trader makes on an initial investment (i.e. A 100% ROI simply indicates that a trader doubled his money).
TA: Trend Analysis or Technical Analysis. A way of examining current coin charts so as to make predictions for the next market movement.

Next, we will be moving on to crytocurrency terms and definitions that are ethereum related.
Dapp: Decentralized Application. It is an application that uses a decentralized peer-to-peer network like Ethereum smart contract as its back-end code.
Bagholder: A person who still holds on to a particular altcoin despite having a pump and dump crash.
Smart contract: This is a code that is deployed onto the Ethereum blockchain, it often helps with the direct interaction of how money flows from one point to another.
The Flippening: A future event showing the capacity of Ethereum’s market cap (or some other cryptocurrency) surpassing Bitcoin’s market cap, making Ethereum the most ‘valuable’ crypto-currency.
Gas: It is a measurement of the amount of processing needed by the ethereum network to execute a transaction. More complex transactions like deploying a smart contract onto the network requires more gas than sending ether from one wallet to another which is obviously a simpler operation.
Gas price: This is the amount of ether an initiator of a transaction is willing to spend for each gas unit on a transaction. The higher the gas price, then the faster the processing of the transaction.
Wei: It is the smallest denomination of ether.
Gwei: This is a denomination of ether (ETH). Gwei is the unit for measuring gas prices. 1 Ether = 1,000,000,000 Gwei (109).
MEW: MyEtherWallet is a site where users can generate ethereum wallets for free.

We also have a handful of cryptocurrency terms and definitions that are memes. See some of them below;
Hodl: People use this word when signifying that a person is keeping his coins / tokens for a long period of time. A couple of years back, someone on a Bitcoin forum made a post with a typo HODL in place of HOLD. Ever since then, this term has become one of the most popularly used term in crypto.
Mooning: In crypto, this term comes to play when the price of cryptocurrencies move up astronomically.
Lambo: This is highly synonymous with crypto. You can't leave out this word when discussing about cryptocurrency terms and definitions. This is the car we’re all goona buy when crypto makes us rich.
This is gentlemen: People use this phrase when pointing out positive things that are currently taking place in the cryptosphere.

Now that you are conversant with some of the commonly used cryptocurrency terms and definitions, you can now go out there and showcase your new crypto vocabulary to the world.
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