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dxDAO aims to power DeFi protocols through decentralized governance

I found this article on internet. It's repost of it to help educate people about all DXDao advantages:
These are positive and necessary steps for DeFi. The new governance structures are intended to help coordinate across community stakeholders and make better decisions. These dynamics are influenced by the issues covered in Dose of DeFi, but I believe they deserve their own focused analysis.
Govern This aims to educate token holders and make them better voters. Emphasis will be placed on specific governance proposals and relaying community governance discussions on forums and weekly calls.
Governance is a coordination technology that has helped countries and companies build more than the sum of their parts. Blockchains are also a coordination technology, but for computers, not humans***.*** Govern This will track the development of the melding of these two over the coming years.
Like governance, Govern This is a work in progress. I would appreciate any feedback on format, topics covered or any other suggestions to make the newsletter better. Just hit reply.
The first issue of Govern This is below. Please click here to subscribe.
Thanks for reading,
Chris
📷
dxDAO aims to power DeFi protocols through decentralized governance
Gnosis launched a long-awaited DEX last week with batched auctions for low-liquidity trade pairs. The front-end, Mesa.Eth.Link is owned and operated by dxDAO, a decentralized collective that hopes to power other DeFi protocols.
While dYdX does not have any specific governance plans (yet), this tweet from dYdX founder Antonio Juliano is a common approach to governance.
📷Antonio Juliano @AntonioMJuliano3) 0x should focus less on governance in the short term. It’s way more important to first build something with a large amount of adoption that’s worth governing
December 6th 2018
3 Retweets62 Likes
The tweet at the end of 2018 was in response to 0x and its native token, ZRX. The project was popular but the token had no use case outside of governance.
This governance strategy – build now, decentralize later – is widely accepted in the space and is perhaps best exemplified by the A16Z’s Jesse Walden’s post, “Progressive Decentralization: A Playbook for Building Crypto Applications”, which the A16Z-backed Compound has essentially implemented (more in the section below).
dxDAO, on the other hand, maintains that decentralization must come at the beginning or else the core team and investors will have an outsized influence on the project in formal (token voting) or informal ways (dictators for life).
Background
dxDAO was launched in May 2019, spun out of a collaboration between Gnosis and DAOstack over managing the DutchX platform. dxDAO’s key governance design is separating financial rights to the DAO (DXD) from voting power over the DAO (Reputation). It used an Edgeware-style lock drop to distribute reputation to stakeholders in May of last year. Any user could lock up ETH or an accepted ERC-20 for a month and receive Reputation, which are voting rights in dxDAO, even though it is not a token and cannot be transferred.
Over 400 unique Ethereum addresses participated in the distribution scheme. Gnosis went through a pretty extensive process in July 2019 to “step back” from its involvement in the DAO, and since then, the community and dxDAO have aligned behind a mission of “putting the ‘De’ in Decentralized Finance”.
Following on last week’s launch of Mesa.ETH.Link, dxDAO is conducting a fundraiser or (“DAICO”?) to help fund its new slate of DeFi products, including a prediction market platform (Omen) and a privacy-centric DeFi dashboard (Mix).
Project launch is typically when a project is most centralized. Execution is hard and direction and accountability are important. dxDAO’s approach will be an interesting counterexample to the “decentralize later” trend and may provide insight into new governance strategies.
Click here for more information about the dxDAO fundraiser.
Here’s what is on the dxDAO docket this week:
Compound governance goes live, has it found Market-Protocol-Fit?
Since its founding in 2017, Compound has executed with an almost flawless record: no bugs/hacks, a major protocol upgrade and a big name fundraise (twice).
But all of that has been because Compound, the company, has executed well, but can protocol development and the growth of the platform be sustained with community management? We shall see.
Compound’s governance system could not be simpler. Anyone with at least 1% of COMP can submit a proposal of executable code. COMP holders have a 3 day voting period; the proposal passes with a majority of token votes AND a 4% quorum of all COMP tokens.
The 1% minimum for proposal submission is a good anti-Sybil mechanism but it greatly limits participation by small users. There is delegation, so you could imagine a “proposal petition” where you would delegate your COMP to a proposal instead of signing your name.
Compound is clearly taking the “less governance is the best governance” approach. This has worked surprisingly well with Bitcoin and Ethereum, which of course, do not have any formal governance, but those communities clearly have informal governance systems that make decisions.
The biggest governance question for Compound: who is the community?
Market-Protocol-Fit
Other Internet has an intriguing essay on the emergent order from new blockchain tokens and their communities. It is worth a read. It discusses the emergent iteration that blockchains – as a technology and a community – go through to find a niche, both in culture and product.
While it focuses on base-layer blockchains that launch with a token, the essay underscores the most underrated governance element: token distribution. It quotes an insightful tweet from Eric Wall
📷Eric Wall @ercwlA question that keeps me up at night: Is it possible to create a rubbish coin based on advanced bullshit, build a community of misguided fans nevertheless, run it centralized for 5 yrs, hardfork-copy the design of a real working project, keep the community and become a success?
keysheet @keysheet
@ErcWll was one of the first vocal critics of IOTA back in 2017, shortly before the project hit a market cap of $15B. https://t.co/2267e8LEpl Today, the project is down 99% and appears to be brutally falling apart. A thread:
February 13th 2020
17 Retweets163 Likes
Before Bitcoin could harden its code and find ‘Digital Gold’ and before Ethereum found ‘DeFi’ and ships ETH2.0, both needed to find a “a strong community of believers” in order to create a “virtuous cycle between headless brands and infrastructural build-out to progressively realize [their] initial promise.”
Communities are connected through a wide spread token distribution, Bitcoin through cypherpunks and online drugs and Ethereum through a global ICO (what Teo Leibowitz called “The Immaculate ICO”).
$COMP distribution
The biggest “news” has been details about $COMP distribution:
There are no explicit plans yet, but the widely held assumption is that the COMP distribution will be determined by the interest earned and paid by users on the protocol since its inception. This is a clever way that only incentivizes more use of the protocol and is hard to game because interests accrues over time.
But the question still remains, what will the COMP community look like and what values will it espouse? Can emergent cultures arise out of Silicon Valley too?
Here’s what is on the Compound docket this week:
Maker and wBTC, a test case for the MIP process
While Maker had planned to spend Q2 moving forward with their upgraded governance process, most of its focus has been on restoring the Dai peg.
For more on how the Maker governance process has expanded outside the core community, check out the previous edition of Govern This.
Here’s what is on the Maker docket this week:
Governance and Risk meeting (April 23)
Single Collateral Dai shutdown – the process has begun. A poll passed with May 12 as the official SCD shutdown. Just yesterday, an executive just passed yesterday to make the MKR oracle fee-less, which will help with migration. Many in the community think the migration of debt from SCD will do more than enough to restore the peg.
13 MIPs and 2 sub proposals – Core to the new Maker governance process is the “Maker Improvement Proposals (MIPs), which are modeled off of BIPs (for Bitcoin) and EIPs (for Ethereum). The two sub-proposals are to appoint the Smart Contracts Team and assign Charles St. Louis as the MIP editor.
The 13 MIPs are listed below:
- MIP1 (Maker Governance Paradigms)- MIP2 (Launch Period)- MIP3 (Governance Cycle)- MIP4 (MIP Amendment and Removal Process)- MIP5 (Emergency Voting System)- MIP6 (Collateral Onboarding Form/Forum Template)- MIP7 (Onboarding and Offboarding Domain Teams for Collateral Onboarding)- MIP8 (Domain Greenlight)- MIP9 (Community Greenlight)- MIP10 (Oracle Management)- MIP11 (Collateral Onboarding General Risk Model Management)- MIP12 (Collateral and Risk Parameter Management)
By and large, the MIPs codify many of the informal Maker governance processes. There is currently a request for comments period (MIP forum) and there will be an informal poll on Monday, April 27 on whether to proceed with the 13 MIPs and 2 sub proposals. If it’s a “Yes”, than an executive for an official ratification vote would start on May 1 and lasts for 4 days. If it passes, the official governance cycle will begin and the rest of the MIPs will likely be approved from May 4 – 6.
Other Governing Things
That’s it! Feedback definitely appreciated. Just hit reply. Written in Brooklyn where it rained all day. No euchre today, but yesterday was epic.
Govern This is written by Chris Powers. Opinions expressed are my own. All content is for informational purposes and is not intended as investment advice.
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The Darkpool Theory

Darkpool - the digital asset exchange

Abstract

The market capitalization and trading volume of cryptocurrencies is growing rapidly every month. With institutional investors arriving into the cryptocurrency market, the development of alternative trading systems is critical for trading large blocks of cryptographic assets while maintaining minimal price slippage and market impact.

We live in a world of finance. Monetary incentives and market movements influence our daily decisions and define human lives in general. Under capitalism, the financial industry has become global expressing economic relations between people and institutions. Nowadays, existing wealth distribution mechanisms are inefficient and the economic environment is unstable. A lack of trust become inevitable and we are moving into the new era of decentralized finance (DeFi). Borderless, accessible and transparent interactions between participants without counterparties to transform old and inefficient financial instruments is the new paradigm of the trustless economy.

We introduce Darkpool, the first decentralized dark pool protocol bridging broad digital assets to DeFi. With interoperability in mind and solid team cross-chain expertise Darkpool blockchain will bring new markets to the Cosmos ecosystem providing users with the liquidity and the necessary fundamentals for DeFi applications and services. Trades are placed on a hidden order book and are matched through an engine built on a multi-party computation protocol. This provides order execution without exposing market sensitive information such as price and volume at a certain position, which would provide an advantage to other traders. Darkpool removes the need for a trusted intermediary to operate a dark pool and provides crypto-economic incentives through a protocol token for governance; enabling the development of a secure, decentralized, scalable dark pool protocol capable of handling billions in trading volume daily.


Introduction
The advent of blockchain technologies has enabled the development of an entirely new class of assets backed by cryptographic verification. Bitcoin (BTC) and Ethereum (ETH) are two blockchain-based cryptocurrencies which, as of eclipse the aggregate market capitalization of all other cryptocurrencies.

In November 2017, the volumes for BTC and ETH trades exceeded USD $181B (not including over-thecounter and trades executed on private forums). This statistic, coupled with the announcements of Bitcoin futures markets from CME Group and NASDAQ, signals interest from institutional investors looking to gain exposure to digital cryptographic assets. With institutions and HNWIs looking to deploy vast amounts of wealth into cryptocurrencies, we must develop the underlying infrastructure to support such volumes.

At a fundamental level, dark pools are private exchanges where financial assets and instruments are traded and matched by an engine running on a hidden order book. These exchanges are primarily created to serve institutional or HNW retail investors who require a system where significant volumes of assets can be block traded with minimal price slippage. Dark pools are estimated to represent approximately 15% of all trading volume of all US stock trades [6]. Extrapolating this statistic for BTC and ETH volumes, a dark pool for such has the potential to execute USD $27.2B of orders monthly. We introduce the Darkpool Protocol which facilitates the exchange of Ethereum, ERC20 and Bitcoin cryptocurrencies through a decentralized dark pool. This is enabled through research within subfields of cryptography such as secure multi-party computation, which allow us to develop a matching engine to run on the distributed hidden order book. We facilitate cross-chain trades through atomic swaps and implement proper economic incentives to ensure these trades are executed thoroughly. Compared to a centralized dark pool or exchange, the Darkpool Protocol removes the risk of asset theft, confiscation or possibility of interference from a malicious exchange operator. This leads to greater trust between institutional investors placing block orders and dark pool exchanges leveraging the Darkpool protocol. Additionally, the Darkpool Protocol is available universally and is highly transparent with regards to how the underlying protocol operates.
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DeFi Market Flourishes Amid Crypto Market Standstill

DeFi Market Flourishes Amid Crypto Market Standstill

Cryptocurrency Leaders Showed Little Or No Price Movement, But The DeFi Sector Reached An All-Time High In Terms Of Total Value Locked
The crypto market found itself in a calm consolidation period last week, as the total market capitalization of the crypto sector hardly moved from the $265 billion mark. Despite the subtle ups and downs, most of the top cryptocurrencies recorded little to no price movements, with Bitcoin floating around $9,400 all weekend. The leading cryptocurrency to date found itself in a tight trading corridor, with strong resistance at $9,400 and support in the $9,250 region.
Meanwhile, the volatility index dropped, which made analysts assume that the next big move is on the way. Most of them, however, are reading the volatility drop as a signal for a negative price correction. Interestingly, as of press time Bitcoin is retesting its $9,400 resistance level, which – if it continues, may result in a serious upwards price breakout.
On the other side, despite the crypto market moving sideways, the decentralized finance (DeFi) sector is gaining traction, as it hit an all-time high of $1,47 billion locked in DeFi projects. Also, data shows that 3 million ETH tokens, which is around 2.7% of Ethereum’s total supply are being locked in. The number of locked Bitcoins also made a record at the end of last week surpassing 6,800 BTC.
Source: Defi Pulse
One of the underlying causes for DeFi’s all-time high is the Compound platform, which began its token distribution on the Ethereum-based DeFi ecosystem on 15th June. The Compound platform distributed COMP tokens to users who deposited crypto as a collateral, or took loans.
In the meantime, Compound’s total market value peaked at $1 billion, making it the first DeFi unicorn in history. The momentum quickly propelled Compound to $325 per token during last weekend and shifted the company to the top of the DeFi rankings with 37.57% dominance rate.
DeFi holds yet another interesting fact, as the sector now beats the banking world in terms of interest rates on crypto deposits. Also, DeFi possesses additional token reward bonuses for network participants.
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Ethereum Has Become Bitcoin’s Top Off-Chain Destination

The most popular way to use bitcoin off-chain is on Ethereum, recent data indicates.
Since 2016, software engineers have worked to extend the oldest and largest cryptocurrency’s use cases through a variety of companion protocols, like the Lightning Network for payments or the Liquid Network for trading. But to date, the most popular off-chain protocols that use bitcoin (the currency, with a small “b”) run on the largest rival to Bitcoin (the network, uppercase).
In fact, Ethereum projects including WBTC and imBTC hold 70% more bitcoins than Lightning or Liquid.
This is “ironic” to Camila Russo, author of “The Infinite Machine“, a forthcoming book about Ethereum, but she’s not surprised.
Ethereum was designed to be “more flexible,” Russo explained, which allows these tokenized protocols to “thrive.” Bitcoin, on the other hand, was built “to do one thing well, which is to transfer value trustlessly and in a censorless way.”
“Tokenized bitcoins,” as these projects are called, allow users to denominate in bitcoin when transacting in the Ethereum network’s emerging ecosystem of decentralized financial products. Instead of using ether (Ethereum’s native currency) to make loans or earn interest, for example, transactions are, in effect, made with bitcoin.
The supply of tokenized bitcoin has grown 330% year to date.
It’s important to note that the total amount of BTC held off the Bitcoin blockchain by both Ethereum- and Bitcoin-based protocols is tiny – only 8,285 BTC (worth $79 million as of Wednesday) – relative to the 18.4 million BTC issued since 2009.
Recent growth in tokenized bitcoin on Ethereum is “only the beginning,” said Jack Purdy, a decentralized finance analyst at Messari.
“Ethereum has an incredibly diverse set of financial applications built on it,” Purdy explained. “We’re going to start seeing a multitude of other use cases as the market for bitcoin on Ethereum continues to grow.”

Not a competition

Despite the disparate growth levels between protocols using bitcoins off the Bitcoin blockchain, some tokenized bitcoin projects see themselves as complementary to – instead of in competition with – Bitcoin’s Lightning and Liquid networks.
“Wrapped Bitcoin represents a digital asset – bitcoin – on the Ethereum chain, and is really complementary to Lightning,” said Kiarash Mosayeri, product manager at crypto custodian BitGo, which helped spearhead WBTC at launch in January 2019.
Growth on Ethereum- or- Bitcoin-based off-chain protocols will “drive adoption and increase the network effect for Bitcoin, attracting more applications and developers in the space,” Mosayeri said.
Built on Bitcoin, Lightning and Liquid also aim to extend the leading cryptocurrency’s utility, similar to the goals of tokenized bitcoin projects. But these protocols have a narrower focus of improving the speed and privacy of small and large off-chain bitcoin transactions, respectively.
“Both approaches offer different capabilities and security tradeoffs,” said Matt Luongo, CEO of Thesis, which launched tBTC in May. “I’m a huge fan of the Lightning Network, and I believe it will become more and more relevant in commerce and in new applications like gaming.”
Growing interest in using bitcoin on other blockchains shows that “there is interest in building more advanced features that might not be directly realizable on the Bitcoin blockchain itself,” said Christian Decker, engineer and researcher at Blockstream, the technology company that launched the Liquid Network and the c-lightning implementation of Lightning.
Both types of off-chain protocols are important, explains Olivia Lovenmark, previously at BitGo and Thesis.
“Tokenized protocols like tBTC and wBTC can be more personally exciting because they expand a bitcoin holder’s financial options, whereas tokenless protocols, like Lightning, improve network infrastructure, which is broadly a community benefit,” said Lovenmark.

Is this good for Bitcoin?

Ultimately, whether on Ethereum or Bitcoin, recent growth suggests users want to transact in bitcoin.
According to Decker, interest in using bitcoin on other blockchains is “a strong signal that the interest in Bitcoin itself is increasing, and that other tokens are losing ground when it comes to bitcoins.”
“I’m not really surprised that users on Ethereum are looking to get exposure to bitcoin, but don’t want to switch over to the Bitcoin network,” Decker added. “That’d also explain why these wrapped bitcoins exist on Ethereum and not on Bitcoin, since the base functionality of Bitcoin already covers what the users are looking for.”
Regardless of the motivations behind tokenized bitcoin projects, these Ethereum-based protocols could benefit bitcoin through broader adoption, Lovenmark said.
“Growth of off-chain Bitcoin protocols means greater optionality for holders,” she said. “This increases use cases for bitcoin and, thus, adoption.”
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The basics of crypto-trading: indicators, charts and trend lines

The basics of crypto-trading: indicators, charts and trend lines

The basics of crypto-trading: indicators, charts and trend lines
Halving on the Bitcoin network has become one of the key events in the cryptocurrency market, which has fueled the interest not only of long-standing players, but also has caused the release of new ones. This is evidenced by recent data on the growing demand for crypto assets on top cryptocurrency exchanges such as Bithumb Global. For those who are just getting acquainted with the crypto-market and want to try their hand at trading a new class of assets, we will tell you what tools crypto-exchanges offer and how to use them in crypto-trading.
To start trading cryptocurrencies, you must first select:
• Crypto-wallet — there are several types of crypto-wallets: hot, cold, desktop, mobile and paper. All of them provide different levels of security and convenience. At the same time, the best option for storing cryptocurrencies is the use of two different wallets — hot and cold. So do most large companies working with digital assets.
• Crypto-exchange is a trading platform that will allow you to exchange, buy and sell cryptocurrencies. Such platforms can be centralized (CEX), decentralized (DEX) or hybrid, combining the qualities of CEX and DEX.
• A crypto-portfolio is a collection of crypto-assets collected for profit. It is best to form it in three stages: part of the currency for long-term storage (from 1 year and longer), another part — a medium-term deposit (up to six months) and a deposit for trading for several days or a week. When starting crypto trading, it is advisable to diversify your investment in a deposit for trading, paying attention not only to the potential of a particular coin, but also to the ways of earning that the cryptocurrency market offers. Experts advise at the initial stages to choose assets from the top 10 rating by capitalization.

Terminology

Order — a trader’s request for a cryptocurrency transaction. Orders are divided into market orders — for purchase (Buy) or sale (Sell), and pending — requests for a transaction at a non-market price, waiting for it to be at the right level. Pending orders include:
⁃ Limit — for sale / purchase at a price higher / lower than the current market price
⁃ Stop loss — orders to limit the loss
⁃ Take Profit — Take Profit Order
Market maker and market taker are market participants who create and accept orders. The market maker creates a new transaction request, increases the turnover of the exchange and raises the liquidity of the crypto asset, while the receiving market taker takes the asset out of circulation, lowering its liquidity. In this connection, different commissions are introduced on some crypto exchanges for makers and takers.
Exchange Cup or Order Book — a table with limit orders, which displays the closest sellers and buyers, where sellers’ orders are marked in red, and buyers are marked in green. The columns of the table show the number of cryptocurrencies and the price at which they intend to sell or buy. At the junction of these tables, a spread is formed — the difference in the price of supply and demand. The lower the spread, the more liquid the cryptocurrency. The analysis of the stock market is a leading indicator of the state of the market, since it allows you to predict changes before they happen.
Long and short positions (Long and Short) — the usual “mode” of trading. In the case of a long position, we buy cheaper and sell more. It is believed that the growth of assets in the market is a long process, therefore, work in this direction is also called long. The second option means a short position, that is, a game for a fall. The market believes that the decline in the value of assets occurs quickly, that is, in a short time. Therefore, this position is called “short.”
Exchange chart — shows the change in the price of cryptocurrency over time and is the most important tool for technical analysis. Charts display price changes with a line, bar and candlestick.
Bulls and bears — in the market so-called buyers and sellers. There is an analogy with the nature of animals: buyers always push the price up, creating a demand for something, and it turns out that the price seems to be pushed by horns. In this connection, bulls are optimists, they believe that the prices of the shares they bought will rise, and someday they will sell the asset more expensive than they bought. The bulls in the market are overwhelming (by approximate estimates, up to 80%), long investments are kept on them, and the bull trend means stable growth of stocks and general welfare. Bears, in turn, are sellers who have learned to capitalize on a falling market: they usually try to sell cryptocurrencies faster, often lowering the price of an asset. Concluding a contract for the sale, they fix its value, and then wait until the goods fall in price, close the deal and put the proceeds in their pocket. Bears are interested in a constant reduction in prices and achieve their goal, provoking an increase in supply: open short positions and sell until the price drops to the desired level.
Technical analysis is a set of tools for market forecasting of prices based on the movement of value in the past. In technical analysis, the same tools can be used for different markets and trading pairs with a slight adjustment of indicators. Also, technical tools are equally successfully used on any timeframes — from a minute to a year.
Fundamental analysis — this type of analysis is based on the consideration of financial and production market indicators that may affect the price of a traded instrument. The mood of market players, current and growing trends, indicators of production activity — all this information can give an extensive idea of the potential of the investment object in question. The main disadvantage of the fundamental analysis is that the information provided by him is insufficient to predict the movement of prices in some local areas. It is possible to determine a potentially good company that has excellent financial performance and has real prospects, but it will be impossible to determine the moment of entering a short-term profitable trade with a good indicator of risk to profit ratio.
Pattern — behavioral model / trading setup / market pattern. Patterns are one of the most common methods for analyzing price movements. Each pattern is always based on a certain idea, the simplest and most understandable. There are a lot of trading models, but all of them are derived from the classical model of breakdown or rebound from certain significant price levels.

Basic cryptocurrency trading tools at Bithumb Global

Using the example of a centralized cryptocurrency exchange Bithumb Global, we will analyze the main elements that cryptotraders will encounter in the initial stages of trading. When choosing a cryptocurrency exchange, first of all, you need to pay attention to the presence of:
⁃ Convenient ways to deposit and withdraw funds
⁃ Fiat currency support
⁃ High number of trading pairs
⁃ Information on the current state of cryptocurrency rates
⁃ Cryptocurrency Rate Charts
⁃ Technical indicators
⁃ Different levels of user verification
⁃ Built-in cryptocurrency wallet
⁃ 24/7 tech support
On the Bithumb Global main page, a selection of top trading pairs is offered, where cryptocurrency tickers are listed, their price, exchange rate for the last day, daily trading volume and the asset quotes movement chart.

Top trading pairs at Bithumb Global. Source.
If you select a pair from this list, then Bithumb Global will automatically transfer the user to the Base Version of Spot Trading. Spot trading — the terms of the transaction with cryptocurrency, in which payment is made to both parties immediately.
Here the user can get acquainted with the latest price of an asset, the volume of transactions with it, data on transactions and the minimum and maximum prices for the last day.

Basic Version of Spot Trading on Bithumb Global. Source.
You can select another trading pair in the top menu by hovering over the corresponding button, but the easiest way is to find the desired pair through the search. At the same time, the Professional Version of Spot Trading opens up a wider set of tools for the user, which will be discussed later.

Trading Tools Professional Version Bithumb Global

On the Professional Version, users can use price charts in the form of Candles, which look like a series of vertical lines and display price changes, where the upper point shows the maximum that the price has reached and the lower one — the minimum. If the closing price is lower than the opening, then the candle will be painted red or black, and if higher, then green or white. Knowing the direction of the price movement (body color of the candle), we can say exactly where the closing and opening prices are.

Price chart in the form of Candles at Bithumb Global. Source.
Also in this version of Spot Trading, a price chart is available to users in the form of a Glass, where sellers ‘bids are marked in red and buyers’ bids are marked in green. The analysis of the stock market is a leading indicator of the state of the market, since it allows you to predict changes before they happen. If, for example, a large congestion of sales requests at the upper price limit can be noted, then as soon as the market reaches this limit, a recession will provoke, triggered by a large number of sales.

Price chart in the form of a Glass on Bithumb Global. Source.
Price charts also have different timeframes — from 1 minute to 1 week, which allows you to conduct a more in-depth analysis of the movement of quotes of the selected asset.

Bithumb Global price chart timeframes. Source.
Also in this version of Bithumb Global, various Indicators are available to traders. In total, the cryptocurrency exchange provides about 80 different indicators that will help in the technical analysis of the movement of crypto asset quotes.
Let’s analyze the main indicators available on Bithumb Global:
Volume — allows you to track the number of transactions completed by traders over a specific time interval. Green and red bars are indicators of the volume of transactions: red signals a decrease in volume, green — its growth. By analyzing the volume of transactions against the background of the price movement chart, you can confirm the strength of the trend or reveal its weakness and predict a price reversal. If prices rise and trading volume rises, we observe a bullish trend. An increase in trading volume in the event of a decline in prices indicates a bearish trend.
Moving Average (MA) is just as popular a tool as volume is. The indicator function analyzes the average prices for the selected time interval, which gives a relative idea of the general price trends. If the actual price of cryptocurrency for a long time keeps above the moving average, we can assume that it will continue to grow. Accordingly, a fall below MA is a signal to lower the price of an asset. For more accurate forecasts, it is advisable to use several moving averages based on different time intervals. Moreover, in case of disagreement, it is customary to consider the value of the average based on a longer period of time. If the signals from several moving averages coincide, we can talk about a fairly accurate forecast.
MACD (Moving Average Convergence Divergence) — having trained on one moving average, we will move on to a comprehensive analysis of this indicator. The MACD tool analyzes the convergence and divergence of three moving averages and can signal the beginning of a new trend. MACD also works well on different timeframes and is a fairly simple and popular indicator of technical analysis.
Zig Zag is an auxiliary indicator that analyzes the highest and lowest points of the cryptocurrency exchange rate and allows you to determine the correct entry points into the market. The plus of the indicator is that it eliminates the noise that can distort the forecast of the trend behavior. Minor fluctuations are simply not taken into account: lines connect the highest and lowest points of the price chart directly. The zigzag shows global market movements, but at the same time it only captures these changes in the past, without giving forecasts on the price behavior in the future.
Relative Strength Index (RSI) — shows the greatest efficiency in a sideways trend. With active course dynamics, RSI may produce incorrect data. Such indicators of technical analysis are called oscillators, and they must be used with caution. The indicator’s algorithms analyze price changes and allow you to evaluate the oversold or overbought status of an asset and, therefore, predict the occurrence of a bull or bear trend.
CCI (Commodity Channel Index) — The CCI or Commodity Channel Index, as well as the Relative Strength Index (RSI), helps evaluate overbought or oversold assets. This chart with values from minus 100 to plus 100 is displayed under the current price chart and can be applied on any timeframes. A CCI of more than a hundred means that the asset is overbought, and the price is about to fall, and on the contrary, a CCI below minus one hundred indicates the oversoldness of the asset and the likely increase in its price. This tool also refers to oscillators and is used during a lateral trend when there is no clear idea of how the price will behave in the near future.
ADC and DI — the index of the average direction and direction of movement, signals a change in trend. It looks like three lines on the chart: red — bears, green — bulls, blue (there may be other colors on different platforms) — the strength of the trend. This indicator is fairly reliable on four-hour and day frames. If the trend strength line is within 10−20 points, this indicates that the trend is gaining strength, but if the indicators reach 60−80 points, you should wait for the trend correction. The green and red lines will show who sets the market mood — bulls or bears. If the green line crosses the red line, the trend becomes bullish, and vice versa.

Indicators at Bithumb Global. Source.
Another useful tool available on the Professional Version of Bithumb Global is Trend Lines. It allows you to demonstrate in which direction the price of an asset is moving. The Dow theory, which is the basis of all technical analysis, suggests that no matter how the price behaves, it will always be in a particular trend. If the price behaves relatively evenly and stays in the same range without showing either growth or decline, such a trend is called a side or flat trend.
A growing (“bullish”) trend is characterized by the appearance of a series of ascending highs, with each new peak must be higher than the previous one. Accordingly, the “bearish” downtrend shows points of failure (price low), each subsequent of which will be lower than the previous one.
A trend line can be built on two points of a minimum or maximum, and a third confirming one is mandatory. The more points form a trend line, the more confident and stable the trend itself. The construction points should not be too close to each other in the time frame, otherwise the direction of the trend will not be completely correct. Please note that the uptrend line is plotted below the chart, and the downtrend is above it. The slope on the trend line should also be taken into account — its constancy indicates the stability of the trend. The change in the angle of the trend line is called the acceleration or deceleration of the price movement. The larger the angle, the faster the trend.
A line through price lows is called a support line. As soon as the price reaches it, it finds market support there and, pushing off, again strives upward. The line connecting price highs is called the resistance line.This is the level above which the value of the asset has not yet risen. If the price breaks the support or resistance line, this is a clear signal for a trend violation and a change in trading tactics.

Trendlines at Bithumb Global. Source.

Finally

The above are the basic trading tools available to traders of the Professional Version of the Bithumb Global crypto-exchange. They will help you figure out how to properly analyze the key metrics of cryptocurrency assets so that you can build the most advanced trading strategy. However, this is not the whole range of tools available to Bithumb Global traders. Follow DeCenter materials to learn about the intricacies of cryptocurrency trading on the advanced cryptocurrency exchange.
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Your winning percentages are what make Infinity Vest amazing!

Your winning percentages are what make Infinity Vest amazing!
We are the Definity Labs. Decentralized Finance Leaders: We develop our own decentralized applications to better our community, while also keeping our community informed of the latest events happening in the DeFi ecosystem.

https://preview.redd.it/prmmf4osli051.png?width=768&format=png&auto=webp&s=839cd7f2a9c9bc4cf2cc179e655c009a8a304f7c
For our latest DAPP click on: INFINITY VEST

Ethereum’s Popularity Problem: Fees are Surging

By Andy Boyan
There’s a common gripe among Ethereum users these days —gas is too damn high. Transaction fees are surging as Tether continues to move to the second-largest blockchain network.
Fees paid on the Ethereum network have surpassed 500 ETH every day since April 15, according to Etherscan. That’s the longest stretch since three months at the height of the latest crypto bubble, between December 2017 and March 2018. What’s more, total daily fees paid have breached 2,000 ETH three times in May, a level that’s been crossed a few dozen times in all of Ethereum’s five-year history. The average for the past week was at 1,700 ETH.

Image source: Etherscan
Tether (USDT) is the main culprit. Users have paid almost $1.4M in the past 30 days for using the stablecoin, according ETH Gas Station. Much of that activity is coming from exchange-to-exchange transfers, which signals arbitrage trading. There are also several ponzi scams that make up the top seven spots including noted pyramid scam MMM, which continues its long program of ponzi scheming.

Financial Layer

While frustrating for end-users, higher fees are a sign the network is getting used as a financial settlement layer. Dexes and stablecoins account for about half of the top 25 projects.
Another positive: high fees are a sign Ethereum’s transition to proof-of-stake will be sustainable. Fees are higher than expected rewards for PoS validators, Vitalik Buterin said earlier this week. Building an attractive staking yield is critical to maintaining decentralized and robust network security, according to a March report by Delphi Digital.
Read more
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Chinese authorities are testing the digital yuan: is it worth waiting for the digital dollar?

Chinese authorities are testing the digital yuan: is it worth waiting for the digital dollar?

Chinese authorities are testing the digital yuan: is it worth waiting for the digital dollar?
The development of the digital renminbi is proceeding rapidly: a few days ago it became known that companies and customers of the largest banks in several cities of China were testing it. Moreover, corporations such as McDonald’s and Starbucks will take part in the test, among others. + Why is China in a hurry to release a national cryptocurrency, at what stage is development and why its main opponent is not Bitcoin or Libra from Facebook, but the US dollar, DeCenter found out.
For a long time, almost nothing was known about China’s national digital currency (DCEP), or the digital renminbi, except that the Chinese authorities were working on it. Information was officially confirmed only in 2018. Moreover, it turned out that research and development has been ongoing since 2014. And in the summer of 2019, the deputy head of the department of the National Bank of China (NBK) Mu Changchun, who is called the main ideologist of the digital renminbi project in power, said that he was “almost ready.” This was preceded by the sensational announcement of the cryptocurrency project Libra from Facebook, which officials in many countries took with hostility.
As DeCenter wrote, cryptocurrencies have pushed the Chinese authorities to create DCEP by the growing competition with fiat currencies. Despite the formal ban on cryptocurrency exchanges and ICOs, Chinese people are still actively using crypto assets. The digital yuan could be an alternative to decentralized coins. In addition, the main capacities of world mining of the Bitcoin network are concentrated in China, the blockchain startup industry is developing rapidly and with government support. Such a contradictory and motley picture.
According to the professor of Fudan University, Michael Song, the real impetus for accelerating the development of the digital renminbi was not so much the Libra coin, but the keynote address by President Xi Jinping in October 2019. Then he called on officials to “make every effort” to develop the blockchain and introduce solutions based on it into the real economy. At the same time, Xi noted the importance of implementing technology in digital finance. According to Song, this was a signal for central authorities to accelerate the release of DCEP and facilitate its distribution in China and beyond.
Mobile App First
But the real details about the digital yuan became known recently, in April. Then, WeChat published screenshots from the test mobile application of the Agricultural Bank of China (SBC) for operations with DCEP. Some of the application’s functions were visible on the screenshots: wallet, function of payment via QR-code (a popular payment method in China), receiving and sending money, as well as “pairing” wallets of two users for transactions through convergence of devices (probably using NFC-technology)
Mobile app interface for the RMB.
Later, the NBK confirmed the authenticity of the screenshots and added that the digital renminbi is being tested in cooperation with several commercial banks, and its territory is limited to four major cities. As The Block later clarified with reference to Chinese media, in one of the cities — Suzhou — municipal officials in May will receive half of the subsidies for travel on public transport in “digital yuan”.
The authorities did not disclose the official launch date for DCEP, but added that the next test of the digital national currency will be held in 2022, during the Beijing Winter Olympics. Probably, then the scale of the test will be much larger and will also affect foreign citizens.
It is curious that on the same day, the State Committee for Development and Reforms of the PRC — the former Gosplan, now in charge of strategic economic planning, announced the inclusion of blockchain in the national technology development strategy. Now it is a priority for the state along with other promising areas, such as artificial intelligence, cloud computing and the Internet of things.
Commerce and trading in the digital yuan
The NBK is not limited to banks and individual users of the digital yuan: thanks to a report from the Chinese publication InterChain Pulse, another test was revealed, but with the participation of almost two dozen companies. The project will be held on the territory of the New Xun’an District (something like a special economic zone, but an urban type).
The project includes companies in the field of catering, retail, transport and entertainment. The list also includes American companies McDonald’s, Starbucks and Subway, as well as a number of local chains: fast food Qingfeng Baozi, supermarkets JD (operated by the leading online retailer of the same name in China), Jinfeng cafe and others. Four state-owned banks provide financial infrastructure, as well as fintech giants Ant Financial (formerly Alipay) and Tencent. Administrative support is provided by local governments.
Xun’an — a kind of testing ground for the “digital city”. All government services have already been digitized here, 5G mobile networks, unmanned vehicles and much more are used. At the end of March, a blockchain laboratory was opened in the city, which will be engaged in the implementation of DLT-based solutions in urban infrastructure and services.
At the same time, InterChain Pulse did not provide data on the date of the start of the digital renminbi experiment in Xiongang or the timing of its implementation.
Ram against the dollar
Given that the digital yuan is a project of the Chinese authorities, it is not surprising that, in addition to domestic economic interests, they also pursue political goals. Namely, the victory over the global “hegemony” of the US dollar. So, the DCEP developer Mu Changchun in September last year said that “the digital yuan is necessary for China to protect the monetary sovereignty of the country”.
The Ledger Insights portal cites an article by the Chinese political science center Zero One Think Tank, which states that the digital yuan will help “internationalize” the Chinese currency. In particular, through transactions in large-scale foreign economic projects of the PRC. Among them is the One Belt, One Road initiative, which brings together many of China’s neighbors as part of the Silk Road Economic Belt and the 21st Century Sea Silk Projects. High scalability of DCEP will solve the problem of increasing the share of settlements in RMB in foreign trade. So far, China has failed.
State-owned Chinese companies already have the infrastructure needed for cross-border operations in the digital yuan. For example, last fall, the Chinese Construction Bank (the third largest in China) released the second version of its financial blockchain platform for international settlements after the volume of operations on it exceeded $ 50 billion. The platform users are mainly foreign banks and Chinese exporters.
All four major Chinese state banks, which recently announced their participation in the project for the commercial testing of the “digital yuan” in Xiongang, have their own foreign trading platforms based on a distributed registry.
Digital dollar
The U.S. currency really dominates global finance: in 2019, 90% of international transfers and 60% of government reserves were in US dollars, while the yuan in both segments accounted for only 2%. Such data are quoted by Voice of America.
The dollar is needed by private companies and banks to hedge the risks of depreciation of national currencies in international transactions. However, the widespread use of the dollar also gives the US government leverage — for example, with the introduction of economic sanctions.
The emergence of alternative international currencies could undermine US influence. In a commentary on Voice of America, Special Assistant to the President Tim Morrison expressed confidence that Beijing’s intention to “dominate this new financial technology should be alarming”, referring to cryptocurrencies.
Apparently, while the US authorities do not plan to issue their own digital dollar.
In late February, speaking in the Senate, US Treasury Secretary Stephen Mnuchin said that Washington does not intend to issue a national cryptocurrency at this time, but may return to this issue in the future.
The day before Mnuchin’s statement, Jerome Powell, the head of the US Federal Reserve System, spoke in the House of Representatives. Congressmen called on him and colleagues in the government’s financial bloc to step up work on the digital dollar until they got ahead of the Chinese. To this Powell replied that the conditions in the USA and China are different: “For example, the idea of a registry where everyone will see each other’s transactions is unlikely to be attractive in the context of the United States. This is not a problem for China.”
As for Libra, last year’s announcement of which was accompanied by mass criticism of Western officials, on April 20 an updated version of the white paper project was released. In the new document, the developers officially abandoned the concept of a single global stablecoin, decentralization and anonymity and pledged to comply with all regulatory requirements.
submitted by Smart_Smell to Robopay [link] [comments]

MKR Holder DAI-gest: Week 19, 2020: Use Bitcoin (WBTC) To Open a Vault on MakerDAO

Use Bitcoin (WBTC) To Open a Vault on MakerDAO

MKR Holder DAI-gest: Week 19, 2020

Governance Recap May 7th, 2020

![Wrapped Bitcoin](https://i.ibb.co/THS6vqn/wbtc.jpg)
MKR Holder DAI-gest is a weekly Maker governance recap that is written by the community for the community. The best source of Maker Community information is through active participation and engagement. This supplemental publication strives to present all relevant facts and remain free of editorial opinion (Big 3 takeaway excepted). The statements made herein are not the opinions or statements of the Maker Foundation.
DAI-gest is Now Available on Amazon Alexa as a Skill. You can enable it at https://skills-store.amazon.com/deeplink/dp/B087NH82D1?deviceType=app&share&refSuffix=ss_copy for all of your Alexa compatible devices. Then say, "Alexa, Open Maker Governance Digest" and you'll hear the latest issue. Coming soon to Itunes.
Subscribe to MKR Holder's DAI-gest on Substack - Free
Corrections / Comments / Suggestions / Other: @adrianhacker-pdx in the Official Maker Forums or [email protected]

Big 3 Take-Aways for the Week:

Dispositioned Governance Agenda

New

Moving

Stalled

Completed

DAI Digits

Governance Polls and Executive Votes

Open Executive Vote: Raise USDC Stability Fee

Passed Executive Vote: Lower USDC SF, Add WBTC, Ratify the Initial MIPs and Subproposals

Passed on May 2, 2020

All recent polls are closed and represented in the most recent Executive Vote. Further information can be found here.

Governance Hot Topics

The New Governance Cycle

Just a reminder, now that the first set of MIPS has passed, the governance cadence will follow the fork on the right:
![New governance cadence diagram](https://i.imgur.com/sny6rOf.png)

Use Bitcoin to Take out a Loan

Right now you can use Eth and BTC to take out loans on the Oasis.app platform at extremely low rates. We're talking 0-1%. Certainly industry best for DeFi right now. To learn how to turn your BTC into wrapped BTC that can be used on the Ethereum blockchain, you can go to https://www.wbtc.network/.

Black Thursday Vault Owners and the Report on Black Thursday Events

There is a thread going here in the forums for vault holders that were liquidated with zero bids. Compensation for some of these vaults is in the works. The report analyzing black Thursday events can be found here. Here is a snipped of the conclusions and recommendations and a big thanks to MakerMan for the undertaking of preparing this report.
![Black Thursday Report](https://i.ibb.co/7WxJfpn/Screenshot-at-10-47-51.png)

Sai Shutdown

The sequence of Sai shutting down is discussed here on the forums and looks something like this:
![Sai Shutdown Diagram](https://i.ibb.co/yB5m2wb/sai.png)
On May 12, 2020 at 16:00UTC Sai will be shutting down completely. Following a 6 hour cool down period, you can redeem any Sai you have left for Eth at migrate.makerdao.com .

The Community Structure of MakerDAO for the Uninformed

In the true spirit of decentralization, there is a lot of work that goes on in the MakerDAO system that is done by various groups. Anyone can get involved. There are foundation members that are pay-rolled by the MakerDAO Foundation, the founding entity of MakerDAO which is in the process of preparing to dissolve in a few years once a trained and competent "governance community" has been created.
Governance community refers to the Maker token holders that can vote on and propose various policies for the system.
Community contributors are folks in the community that have a skill set and provide services to the Dao for compensation. Note: A governance community member can also be a community contributor. There really is not a set hierarchy other than folks who have been contributors for longer that may shepherd new individuals wishing to contribute.
Want to get involved? Pop in at chat.makerdao.com find a room and say hello.

Forum Activity and Signaling

MakerDAO Community and Governance/Risk Forums

Weekly Governance and Risk Meeting

Here is a guide from MakerDAO about becoming involved in Governance. The meeting is held every Thursday, 17:00 UTC. During the postmortem and corrective action phase of the recent crypto market prices and resulting fiasco there has been a daily call. This is expected to drop to two calls over the next week. Please check the forums for information related to ad-hoc governance and risk calls that may be happening.
Governance and Risk Meeting Community Guide * Understand the issues that are discussed and governance themes that get explored to build a healthy, secure, Maker Platform. * Get info on how to connect by phone or webcam. * Explore meeting archives.

Events

submitted by adrianhacker to MakerDAO [link] [comments]

P-REP Proposal; ICON, 20% exposure in top crypto event of 2020, reach 100+ universities/corporate partners (BETTER THAN SLICED BREAD), organized by MouseBelt.

Summary:
Event site: https://www.ri2020.io/
Event date: May 18th, 2020
P-PREP Commitment Date: April 30th, 2020
Telegram: u/markusreisner
We believe we have a strong proposition to market ICON in a meaningful way to some of the largest communities in crypto.
The MouseBelt team has the largest global network of over 100+ universities in 20+ countries. Over the last few months, 10+ university blockchain events we were working with got canceled for obvious reasons.
Due to that fact, and our understanding of our reach we decided to launch a virtual conference. Since April 10th here is what happened:
MouseBelt will invest over $70k+ into this event. We would like to have fellow P-Reps invest $20k (this will go 100% to BlockTV production cost).
The benefit to the ICON community will be:
Background:
MouseBelt is a popular blockchain ecosystem consisting of multiple parts:
MouseBelt as ICON developers:
Our engineering team has implemented token assets on ZenSports (SPORTS), the first STO on the ICON network, and GrowYourBase, the #1 IRC2 application token in market capitalization on the ICON network.
Currently, we are developing the Balanced network in concert with ICX_Station, PARROT9, and Iconosphere. Balanced will bring synthetic assets backed by ICX to the ICON network, as well as tokenized staked ICX. This can assist with both a stable asset for payments, and a base for other DeFi applications
MouseBelt as a P-Rep:
We have been a Main P-Rep most of the time since decentralization of the network and so far had utilized our funds for student education.
Such as the “ICON in a box” workshops and the Milwaukee Blockchain Conference, which we sponsored in a direct ICX payment and the second annual payment for UCLA’s blockchain engineering course.
REIMAGINE2020, Conference details:
Conferences have always been an integral part of the blockchain space to promote projects in the industry.
With recent evolutions around the globe, things have changed. They either got canceled or delayed.
We have created REIMAGINE2020, a virtual conference.
Shared by the ICON Foundation on April 18.
We can effectively and efficiently promote ICON to the world through Reiamgine2020 | BlockTV. The driving force behind the conference is: highest quality of Content matched with the best production quality for Video. The funds will allow MouseBelt to promote ICON logo/branding throughout the conference/programming for straight 72 hr of live streaming. Additionally, we have the opportunity to properly place ICON logo/branding in highly favorable on-screen placements (tickers/commercials/plugs and continuous branding) reaching 5M viewers globally. ICX Station is providing a Keynote to drive global interest.
Confirmed partners
Schedule & Format
Production Status
Audience
In addition to the communities of our confirmed partners and universities we are targeting:
1. Viewers - Tuning into the livestream, attending a workshop, or watching the content post-conference.
2. Participants - Speakers, partners, and sponsors
3. As far as hard data for "attendees" we have two signals:
submitted by patrickMouse to helloicon [link] [comments]

Bitcoin Storm - The Future of Profitable Bitcoin Trading 2020!

With the approach of computerized monetary standards, one example of overcoming adversity that has truly surprised the world is the accomplishment of Bitcoin Storm.
Perhaps the most punctual type of cryptographic money, Bitcoin Storm appreciates a degree of significant worth, liquidity, reception and notoriety that different types of advanced cash have so far been not able to recreate, and it deservedly makes the most of a lot of riveted consideration from devotees and apprentices the same.
Occasions that advance the reason for Bitcoin Storm, instruct the majority about its significance, and give a potential guide to the future can be tempting goals for Bitcoin Storm aficionados around the globe.
The Future of Bitcoin Storm is one such goal, and potentially one of the biggest and generally rewarding. A Bitcoin Storm meeting spread across two days at the city of Arnhem in The Netherlands, this as of late finished up Bitcoin Storm gathering has unquestionably ticked all the privilege boxes for Bitcoin Storm devotees around the globe.
The meeting was finished without a hitch with full participation, a diverse blend of master speakers and introductions, and a general encounter that makes certain to remain with Bitcoin Storm lovers for quite a long time to come.
The Future Of Bitcoin Storm Conference
The way Bitcoin Storm has multiplied into the lives of individuals has a lot to do with the highlights and usefulness that is brings to the table, being one of the world's first computerized cash stages that is totally decentralized, permissionless and worldwide.
These are the characteristics that have added to the standing that it as of now appreciates, and the ones that lovers and specialists esteem the most.
With a developing and energetic innovative work network that has been effectively attempting to broaden and upgrade the degree and reach of Bitcoin Storm, and eventual fate of this mainstream advanced money undoubtedly appears to be splendid.
The Future of Bitcoin Storm gathering has consequently been a perfect gathering point for lovers and trailblazers from around the globe – a spot where individuals and groups working in the Bitcoin Storm space gets the opportunity to meet, trade thoughts, team up and contend.
The setting has been superbly worked for this meeting to happen, with a casual situation where individuals can loosen up, appreciate extraordinary food and convenience, and manufacture new associations with individual lovers.
The city of Arnhem, the picked setting for the meeting, is likewise notable for being a tremendously Bitcoin Storm-accommodating area of The Netherlands, and has along these lines been the ideal scene for this gathering.
The Future of Bitcoin Storm Experience
The gathering was planned to be powerful at accomplishing its objectives, and to likewise furnish members with the opportunity to unwind in the middle of serious introductions and conversation meetings.
A fundamental piece of the experience was without a doubt the investment of specialists in the Bitcoin Storm space, who conveyed with mindful, fascinating and imaginative introductions that can help the up and coming age of Bitcoin Storm visionaries with new thoughts and motivation.
Major among the rundown of introductions were those that were equipped towards future prospects and growing the domain of Bitcoin Storm across more applications.
A portion of the themes secured included Bitcoin Storm mining as of now, different usage of Bitcoin Storm, Bitcoin Storm showcase administration, the requirement for the correct scaling arrangement and Bitcoin Storm arrangement advancement for what's to come.
The speakers were totally perceived specialists in the field of Bitcoin Storm, proprietors and directors of probably the most suffering organizations and advances that utilize this famous computerized cash.
With their cooperation, the gathering was a resonating achievement, teaching and rousing a large number of aficionados and preparing for the fate of Bitcoin Storm.
The Future of Bitcoin Storm Summary
In general, The Future of Bitcoin Storm gathering has been a sparkling signal of companionship, joint effort and motivation in the realm of Bitcoin Storm, and may all around become the occasion that takes things forward into what's to come.
https://www.cryptoerapro.com/bitcoin-storm/
submitted by cryptoerapro to u/cryptoerapro [link] [comments]

Brock Pierce Interview Series #1: Global Economy Encountered ‘Black Swan’, IPSE Value Grew Strongly Against Trend

Brock Pierce Interview Series #1: Global Economy Encountered ‘Black Swan’, IPSE Value Grew Strongly Against Trend

https://preview.redd.it/3wkkimo3hmn41.jpg?width=711&format=pjpg&auto=webp&s=d154175be06c88071c40d57340aa5185d21f072d
On March 16th, Eastern time, U.S. stocks plummeted at the opening of the market and triggered a trading curb again. This is the fourth trading halted in history and the third of the month since March 9. As of the close, the three major stock indexes have fallen by around 12%, of which the Dow Jones Industrial Average has fallen by 12.93%, the largest single-day point decline in history. In the face of such a sudden “black swan”, the global cryptocurrency market cannot stay aloof.
Affected by this news, Bitcoin prices have suffered extreme waterfalls many times. On March 16th, after a short and rapid rise in the price of Bitcoin, the price repeated several declines, from a peak of $ 5,824 on that day to $ 45,83, dropping of 21.3% within a half day. In the context of the recent global slump and economic panic, the construction of the IPSE distributed search ecosystem, which is the traffic entrance to the global next-generation value Internet, is running at a high speed and has performed well in the global secondary market, with a rise of 19.94%.

https://preview.redd.it/t474ibx6hmn41.jpg?width=1080&format=pjpg&auto=webp&s=0b584a4de22f76d9d373fdf8c1495b4f7f2067d6
On March 16, Brock Pierce, chairman of the Bitcoin Foundation and co-founder of EOS / Block One, officially became the strategic advisor of IPSE. In the interview, Brock said that IPSE and IPFS, which are one of the most important driving forces in historic transformation of the global Internet from Web2.0 to Web3.0, have huge value potential.
Even when the current global economy encounters the “black swan”, it continues to grow explosively against the trend and gradually promotes the construction of a fairer and sharing distributed economy.

Q1: What Do You Think of the Potential of IPSE in the Market?

Broke Pierce:
“The economic benefits associate with creating transformational products. If you change the game, if you change the world, obviously the revenue follows or the economics follow. And so is a co-creator, a participant in the system that changes the game, there should be substantial benefits. If you disrupt the search, you bring down the Googles in the world. Of course there’s gonna be money. It’ll be less than they took, as we are building a system that is more fair, and that shares all things. But yeah, whether it be the resources, the copyrights, the portals, all the things, do I believe that the economic circle is to be there? Of course they will be. Of I believe. I believe. I’m a believer.”
As Brock said, economic benefits and values will change as product rules and value distribution rules change, and subjects that change or subvert traditional rules will gain huge potential value.
Looking back at history, in the context of the centralized information Internet development, value is often ingested by institutions that have a disruptive effect on rules. In the era of distributed value Internet, the formulation of rules is driven by consensus, and consensus is generated by all the ecological co-builders under the guarantee of the consensus mechanism.
Accordingly, huge potential value is also distributed in a decentralized manner to all participants, this is a more fair and shared eco-economy. In the future, it will be able to realize the co-construction and sharing mechanism of resources, copyright, traffic dividends, etc. This is the most essential feature and value of the blockchain and Web 3.0 era. If it is said that the birth of IPFS distributed storage based on blockchain has opened up the era of distributed data, then IPSE distributed search, which based on IPFS, occupies the traffic entrance of the global value Internet era and has great value potential.

Q2: As the Utility Toke of IPSE, what is the Investment Value of POST?

Broke Pierce:
“In term of a project, call it validation, GSR Matrix Fund is one of the leading validators in our ecosystem, and they just invested $10 million in this project. And so, you know, one of the main pieces of advice I give people in this industry is, if you don’t know, follow smart people. I think for myself, because I do the work and I encourage everyone to think for themselves. And generally, that’s the advice I give everyone to do that, but to the extent that, you are looking for signals, obviously, smart money is getting behind this.”
From a professional perspective, POST is an ecological token of IPSE, which carries the entire ecological value transfer function. Through the closed-loop design of scientific business models and economic models, POST has the qualification for trusted circulation in IPSE as an incentive.
The powerful tools and bearers of ecological value can effectively stimulate network effects, attract many participants to jointly build ecological value networks, continuously expand ecological boundaries, and build an organically-linked distributed search ecosystem. As the traffic entrance of the global value Internet, POST has a very broad appreciation space.

Q3: Currently, the Global Economy Encountered Black Swans, But IPSE Grew Against the Trend, the Price of POST Also Increases Rapidly with Its Transaction Volume Increasing. How Do You Think About This?

Broke Pierce:
“The world around us is scrambling right now, happening crypto in general, stock markets, viruses, everywhere. What a unique and interesting time in which we live. But yeah, that mean the fact that this project does actually perform through it all. It means that people think there is excess value here. The tide goes out, and to be esteem wearing a bathing suit is a good thing.”
The upswing of the application layer based on IPFS distributed storage ecological IPSE is in sharp contrast to the downturn in the petroleum, real estate, and financial industries. IPSE, as a new revolutionary, innovative, and disruptive global data industry new technology in the era of distributed data application was positioned as the next-generation value Internet traffic entrance.
As a search engine, IPSE will gradually push IPFS to the application. In the future, it will become Google in the era of blockchain and value interconnection, which has extremely high industrial and commercial value. IPSE and POST are relatively stable under this recess global economic circumstances, and it will play a protective role.
In terms of the regular rules of the secondary market, POST reflects the value of IPSE and the global market’s expectations for the future development of IPSE. Recently, on the condition that the US stock market experienced a trading curb for the third time, and the global economy is encountering a “black swan” crisis, IPSE can achieve a reverse rise, which is the global market once again affirmed the value of IPSE.
IPSE is a revolutionary, innovative and disruptive global data industry innovative application in the era of distributed data. With the advance of IPSE project, the continuous iteration of products and the global market, Brock Pierce believes that the tremendous energy possessed by the IPSE team will continue to release, bringing considerable benefits to global participants, and continue to promote the improvement of the ecology and the arrival of the era of interconnected values.
Go to watch interview video of Brock Pierce.
submitted by ipse_io to u/ipse_io [link] [comments]

Survivors of market disasters: In this disaster, some people actually made money

There is no need to repeat the tragic market. Various historical figures are present, and they all reveal a signal: this disaster is like an earthquake with no warning signs. The victims are everywhere, and the survival is a fluke.
But in this disaster, there are still people who make money.
If you still have the impression, on August 23 of last year, there was a problem with Amazon AWS 'server in Japan, which caused the products using the region's services to be affected to varying degrees, including the cryptocurrency trading platform. After discovering a problem with Binance using AWS, the user's deposit and withdrawal were suspended, but the trading platform using the Binance Quotation API failed to take timely measures, resulting in loopholes in market makers' strategies.
That day, while Bitcoin was still steadily maintained at 10,000 USD, some users bought Bitcoin at a unit price of 0.32 USD, and when there was almost no fluctuation in the market, they used the mistake of the server to add western food for the night. A bottle of champagne.
In this disaster after 5 months, some people still use the environment to find a way to survive.
Ethereum 0 dollar purchase?
A $ 0 purchase of Ethereum happened on March 13. The market plummeted, many mortgagors' positions were exploded, and ETH fell from $ 180 to less than $ 100 without resistance. The decentralized Defi market that depends on the value of ETH is naturally not immune, such as the MakerDAO platform. MakerDAO's borrowing logic is that users over-collateralize ETH to lend USD stablecoin DAI, but when the value of ETH fell rapidly, a large number of loans fell below the threshold and the system had to be liquidated. In other words, the user's loan was not repaid. Mortgage of ETH is also not available.
So MakerDAO has a bad debt, the amount exceeds USD 4 million. In order to repay this bad debt, MakerDAO chooses to auction the collateral, that is, ETH, BAT, etc., and uses the stable currency DAI to bid. They need to use the auction proceeds to obtain repay loan.
Under normal circumstances, such auctions are not too accidental. The feeding system reports the current price of ETH, and the bidders will probably trade at a price slightly lower than the market price.
However, the background of this auction is the market's plunge. The transaction caused investors to intensive operations, which blocked the Ethereum network. It takes far more than usual gas fees to allow the miners to confirm the transfer as soon as possible.
According to the browser, on the morning of the 13th, if only 44 gwei is used, the transfer confirmation time on the Ethereum network will take 72958 seconds, which is 20 hours.
The MakerDAO debt auction on the Ethereum network has also been affected. The blockage of the network has prevented bidders with low gas costs from bidding in time, which caused participants to bid 0 DAI / ETH to drop the hammer.
It can also be seen from the transaction records that the auction of 0 DAI was indeed successful. These lucky bidders only paid a transfer fee of US $ 1 and transferred 0 amount to obtain an ETH worth US $ 122 at the time.
These people are undoubtedly fortunate. The external environment helped them to become the only game participants. The exchange of $ 1 for $ 120 and a profit of 11900% was much higher than the odds of players who risked bottom-swinging in fluctuations.
However, from another perspective, MakerDAO's auction is to use the DAI obtained from the auction to pay off debts. However, due to network congestion, this situation has caused several free gifts, and MakerDAO's debt repayment is even worse.
Pick up goods by luck
If it is said that MakerDAO launches the auction, it is a helpless action of the team under extreme conditions. Bidders still need a bit of technical barriers to participate, but there is nothing to worry about, and there is almost no difficulty and cost.
On the evening of March 12, investors discovered that the LINK / USDT trading pair of the Binance trading platform experienced a short-term flash collapse and once fell to the bottom 0.0001 USD. What's going on?
Twitter netizens then asked Zhao Changpeng about the matter, and the latter's response was a shock. It turned out that someone had already launched the LINK trading pair as early as Binance, that is, on January 16 last year, a low was hung within 8 seconds after the real-time trading was opened. Price list, but it has not been closed because no fool will sell it at this price.
Unexpectedly, more than a year later, this pending order was sold "strangely". "At that time we had no price range restrictions. We will not cancel user orders." Zhao Changpeng said that the platform will not deny this order because the operation is completely reasonable.
It will not be rolled back for various reasons. In other words, even if LINK has experienced a large decline recently, at the current price of 2.3 US dollars, the profit of this transaction will exceed 2 million US dollars. US dollars, then he instantly won nearly 5 million US dollars.
The cost of 100 dollars, the income of 2.4 million dollars, a real profit.
In fact, similar examples of this kind of luck are not rare in the crypto industry. Except for Binance and the previous examples, BitMex and OKEx have also experienced similar situations, and more than once.
For example, on December 6, 2017, Binance's XRP / BTC trading pair experienced a breakdown of the list. In a very short period of time, the XRP price was oversold to 0.0000002 BTC, which is basically negligible. On January 29, 2018, the price of the ADA contract on BitMEX also fell to 0.00000005 US dollars, which was also nearly 0; another trading platform, OKEx, also saw a large amount of 0.002 USD on January 14, 2018. Case, according to the official statement at that time, "a certain trader" quickly sold a large amount of ETH through market orders within 12 minutes. Interestingly, at the time, some people analyzed that "a certain trader" was actually an official market-making robot, and "a large amount" of 100 million Ethereum was eventually sold for 20 dollars.
However, for ordinary people, if you want to encounter this kind of opportunity for leak detection, unless you are bored and place an order in advance, such a price is fleeting, and you ca n’t seize the opportunity simply by hand speed. In fact, at present, many trading platforms have actually adopted corresponding price amplitude filters, which specify the maximum / minimum price range of pending order prices. Oolong trading is very rare. Even if luck hits and catches up, it is very likely that the platform will intervene and the transaction will be rolled back. This situation has not happened before.
Only this time, the trader who had placed an order on Binance for more than a year, even if he successfully leaked and successfully withdrew the coin, it can only be said that he hit the Grand Canal.
Safe moving of bricks
Buying a certain kind of token on a crypto trading platform, and then selling the token to another trading platform, earning the price difference is a moving brick in the crypto circle. Moving bricks has been an arbitrage behavior since the birth of the transaction. It belongs to a very old business. Arthur, the founder of BitMex, who now operates a trading platform, and Xu Mingxing of OKEx, were once members of the army of moving bricks. . This kind of brick moving was the most prosperous at the end of 2017. At that time, trading platforms such as Bithumb in South Korea also called the "Kimchi premium" due to the price difference between other platforms. Moving bricks is a kind of risk-free arbitrage. Players use energy to gain profits, although the single profit is not much. However, with the maturity of trading robots and quantitative trading teams, the spread of tokens between multiple regions or platforms is often wiped out in a matter of seconds. Therefore, the profit margin of manually moving bricks is now very small.
Of course, it is not to say that there is no opportunity. Such an opportunity to make money is indeed hidden under the volatile market.
"Buy at a low price and sell at a high price, this is simply the most secure way to make money in a plunging market!" Investors are excited about cryptography. Starting at 6:30 pm on March 12, cryptocurrencies have experienced sharp fluctuations, while Binance and Huobi When the bitcoin spread between the three trading platforms and OKEx was the largest, it even reached more than 700 US dollars. The discerning player quickly discovered the opportunity, "For half an hour, I made more than 10,000 with a principal of 20,000 yuan. Such an opportunity is usually not available."
Buy and sell orders executed by the above investors at almost the same time, with a spread of nearly $ 450
When it comes to moving bricks, time is money. It is definitely too late to shuttle between multiple trading platforms. Many investors have now transferred the "battlefield" to the platform that focuses on aggregated trading. "The aggregated trading platform integrates the depth of multiple platforms. As long as there is a price difference between supported platforms, users only use One account can be bought and sold on multiple platforms, and it can be operated in a few seconds. "Wu Ling, who seized the opportunity from the extreme market in these two days, made nearly 50,000 by moving bricks in just a few hours. Yuan, the principal is no more than tens of thousands of yuan.
It is understood that there are already multiple platforms targeting the aggregate trading business on the market, and the opportunity to move bricks does not often appear, unless similar to the extreme market appearing in the past few days, or some unique tokens, there may be soaring and plunging. Opportunities, as a whole, are not met a few times a year, and they are fleeting.
However, whether it is MakerDAO auctions, ultra-low-priced pending order transactions, or arbitrage moving bricks under the new situation, these opportunities to make money are actually small probability and cannot be used as conventional investment methods.
These seemingly easy profits are in the end a few people. Many people are trapped in extreme quotes in stuns. Most investors have no assets left on the trading platform overnight.
Maybe this also makes many investors lose confidence in the industry, but in fact, in the face of such a market, after finishing our mood, we are more learning from changes.
Learn the reasons for this disaster, learn the logic of the main control panel, learn what signals were ignored before the disaster, and prepare for the next time. At the same time, we can also see the development of the industry. For example, when all centralized trading platforms are down, DEX can still be implemented despite various problems.
I hope that everyone still has confidence in the blockchain and cryptocurrency industries. Finally, I would like to remind everyone that the recent market changes are unpredictable. Please pay attention to risks and exercise caution.
submitted by FmzQuant to u/FmzQuant [link] [comments]

Transcript of Bitcoin ABC’s Amaury Sechet presenting at the Bitcoin Cash City conference on September 5th, 2019

Transcript of Bitcoin ABC’s Amaury Sechet presenting at the Bitcoin Cash City conference on September 5th, 2019
I tried my best to be as accurate as possible, but if there are any errors, please let me know so I can fix. I believe this talk is important for all Bitcoin Cash supporters, and I wanted to provide it in written form so people can read it as well as watch the video: https://www.youtube.com/watch?v=uOv0nmOe1_o For me, this was the first time I felt like I understood the issues Amaury's been trying to communicate, and I hope that reading this presentation might help others understand as well.
Bitcoin Cash’s Culture
“Okay. Hello? Can you hear me? The microphone is good, yeah?
Ok, so after that introduction, I’m going to do the only thing that I can do now, which is disappoint you, because well, that was quite something.
So usually I make technical talks and this time it’s going to be a bit different. I’m going to talk about culture in the Bitcoin Cash ecosystem. So first let’s talk about culture, like what is it? It’s ‘the social behaviors and norms found in human society.’
So we as the Bitcoin Cash community, we are a human society, or at least we look like it. You’re all humans as far as I know, and we have social behaviors and norms, and those social behaviors and norms have a huge impact on the project.
And the reason why I want to focus on that point very specifically is because we have better fundamentals and we have a better product and we are more useful than most other cryptos out there. And I think that’s a true statement, and I think this is a testimony of the success of BCH. But also, we are only just 3% of BTC’s value. So clearly there is something that we are not doing right, and clearly it’s not fundamental, it’s not product, it’s not usefulness. It’s something else, and I think this can be found somewhat in our culture.
So I have this quote here, from Naval Ravikant. I don’t know if you guys know him but he’s a fairly well known speaker and thinker, and he said, “Never trust anyone who does not annoy you from time to time, because it means that they are only telling you what you want to hear.”
And so today I am going to annoy you a bit, in addition to disappointing you, so yeah, it’s going to be very bad, but I feel like we kind of need to do it.
So there are two points, mainly, that I think our culture is not doing the right thing. And those are gonna be infrastructure and game theory. And so I’m going to talk a little bit about infrastructure and game theory.
Right, so, I think there are a few misconceptions by people that are not used to working in software infrastructure in general, but basically, it works like any other kind of infrastructure. So basically all kinds of infrastructure decay, and we are under the assumption that technology always gets better and better and better and never decays. But in terms of that, it actually decays all the time, and we have just a bunch of engineers working at many many companies that keep working at making it better and fighting that decay.
I’m going to take a few examples, alright. Right now if you want to buy a cathode ray tube television or monitor for your computer (I’m not sure why you want to do that because we have better stuff now), but if you want to buy that, it’s actually very difficult now. There are very little manufacturers that even know how to build them. We almost forgot as a human society how to build those stuff. Because, well, there was not as high of a demand for them as there was before, and therefore nobody really worked on maintaining the knowledge or the know how, and the factories, none of that which are required to build those stuff, and therefore we don’t build them. And this is the same for vinyl discs, right? You can buy vinyl disk today if you want, but it’s actually more expensive than it used to be twenty years ago.
We used to have space shuttles. Both Russia and US used to have space shuttles. And now only the US have space shuttles, and now nobody has space shuttles anymore.
And there is an even better counter example to that. It’s that the US, right now, is refining Uranium for nuclear weapons. Like on a regular basis there are people working on that problem. Except that the US doesn’t need any new uranium to make nuclear weapons because they are decommissioning the weapons that are too old and can reuse that uranium to build the new weapon that they are building. The demand for that is actually zero, and still there are people making it and they are just basically making it and storing it forever, and it’s never used. So why is the US spending money on that? Well you would say governments are usually pretty good at spending money on stuff that are not very useful, but in that case there is a very good reason. And the good reason is that they don’t want to forget how it’s done. Because maybe one day it’s going to be useful. And acquiring the whole knowledge of working with uranium and making enriched uranium, refining uranium, it’s not obvious. It’s a very complicated process. It involves very advanced engineering and physics, a lot of that, and keeping people working on that problem ensures that knowledge is kept through time. If you don’t do that, those people are going to retire and nobody will know how to do it. Right.
So in addition to decaying infrastructure from time to time, we can have zero days in software, meaning problems in the software that are not now exploited live on the network. We can have denial of service attack, we can have various failures on the network, or whatever else, so just like any other infrastructure we need people that essentially take care of the problem and fight the decay constantly doing maintenance and also be ready to intervene whenever there is some issue. And that means that even if there is no new work to be done, you want to have a large enough group of people that are working on that everyday just making it all nice and shiny so that when something bad happens, you have people that understand how the system works. So even if for nothing else, you want a large enough set of people working on infrastructure for that to be possible.
So we’re not quite there yet, and we’re very reliant on BTC. Because the software that we’re relying on to run the network is actually a fork to the BTC codebase. And this is not specific to Bitcoin Cash. This is also true for Litecoin, and Dash, and Zcash and whatever. There are many many crypotos that are just a fork of the Bitcoin codebase. And all those crypos they actually are reliant on BTC to do some maintenance work because they have smaller teams working on the infrastructure. And as a result any rational market cannot price those other currencies higher than BTC. It would just not make sense anymore. If BTC were to disappear, or were to fail on the market, and this problem is not addressed, then all those other currencies are going to fail with it. Right? And you know that may not be what we want, but that’s kind of like where we are right now.
So if we want to go to the next level, maybe become number one in that market, we need to fix that problem because it’s not going to happen without it.
So I was mentioning the 3% number before, and it’s always very difficult to know what all the parameters are that goes into that number, but one of them is that. Just that alone, I’m sure that we are going to have a lower value than BTC always as long as we don’t fix that problem.
Okay, how do we fix that problem? What are the elements we have that prevent us from fixing that problem? Well, first we need people with very specific skill sets. And the people that have experience in those skill sets, there are not that many of them because there are not that many places where you can work on systems involving hundreds of millions, if not billions of users, that do like millions of transactions per second, that have systems that have hundreds of gigabytes per second of throughput, this kind of stuff. There are just not that many companies in the world that operate on that scale. And as a result, the number of people that have the experience of working on that scale is also pretty much limited to the people coming out of those companies. So we need to make sure that we are able to attract those people.
And we have another problem that I talked about with Justin Bons a bit yesterday, that we don’t want to leave all that to be fixed by a third party.
It may seem nice, you know, so okay, I have a big company making good money, I’m gonna pay people working on the infrastructure for everybody. I’m gonna hire some old-time cypherpunk that became famous because he made a t-shirt about ERISA and i’m going to use that to promote my company and hire a bunch of developers and take care of the infrastructure for everybody. It’s all good people, we are very competent. And indeed they are very competent, but they don’t have your best interest in mind, they have their best interest in mind. And so they should, right? It’s not evil to have your own interest in mind, but you’ve got to remember that if you delegate that to others, they have their best interest in mind, they don’t have yours. So it’s very important that you have different actors that have different interests that get involved into that game of maintaining the infrastructure. So they can keep each other in check.
And if you don’t quite understand the value proposition for you as a business who builds on top of BCH, the best way to explain that to whoever is doing the financials of your company is as an insurance policy. The point of the insurance on the building where your company is, or on the servers, is so that if everything burns down, you can get money to get your business started and don’t go under. Well this is the same thing. Your business relies on some infrastructure, and if this infrastructure ends up going down, disappearing, or being taken in a direction that doesn’t fit your business, your business is toast. And so you want to have an insurance policy there that insures that the pieces that you’re relying on are going to be there for you when you need them.
Alright let’s take an example. In this example, I purposefully did not put any name because I don’t want to blame people. I want to use this as an example of a mistake that were made. I want you to understand that many other people have done many similar mistakes in that space, and so if all you take from what I’m saying here is like those people are bad and you should blame them, this is like completely the wrong stuff. But I also think it’s useful to have a real life example.
So on September 1st, at the beginning of the week, we had a wave of spam that was broadcasted on the network. Someone made like a bunch of transactions, and those were very visibly transactions that were not there to actually do transactions, they were there just to create a bunch of load on the network and try to disturb its good behavior.
And it turned out that most miners were producing blocks from 2 to 8 megabytes, while typical market demand is below half a megabyte, typically, and everything else above that was just spam, essentially. And if you ask any people that have experience in capacity planning, they are going to tell you that those limits are appropriate. The reason why, and the alternative to raising those limits that you can use to mitigate those side effects are a bit complicated and they would require a talk in and of itself to go into, so I’m going to just use an argument from authority here, but trust me, I know what I’m talking about here, and this is just like raising those limits is just not the solution. But some pool decided to increase that soft cap to 32 megs. And this has two main consequences that I want to dig in to explain what is not the right solution.
And the first one is that we have businesses that are building on BCH today. And those businesses are the ones that are providing value, they are the ones making our network valuable. Right? So we need to treat those people as first class citizens. We need to attract and value them as much as we can. And those people, they find themselves in the position where they can either dedicate their resources and their attention and their time to make their service better and more valuable for users, or maybe expand their service to more countries, to more markets, to whatever, they can do a lot of stuff, or they can spend their time and resources to make sure the system works not when you have like 10x the usual load, but also 100x the usual load. And this is something that is not providing value to them, this is something that is not providing value to us, and I would even argue that this is something that is providing negative value.
Because if those people don’t improve their service, or build new services, or expand their service to new markets, what’s going to happen is that we’re not going to do 100x. 100x happens because people provide useful services and people start using it. And if we distract those people so that they need to do random stuff that has nothing to do with their business, then we’re never going to do 100x. And so having a soft cap that is way way way above what is the usual market demand (32 megs is almost a hundred times what is the market demand for it), it’s actually a denial of service attack that you open for anyone that is building on the chain.
We were talking before, like yesterday we were asking about how do we attract developers, and one of the important stuff is that we need to value that over valuing something else. And when we take this kind of move, the signal that we send to the community, to the people working on that, is that people yelling very loudly on social media, their opinion is more valued than your work to make a useful service building on BCH. This is an extremely bad signal to send. So we don’t want to send those kind of signals anymore.
That’s the first order effect, but there’s a second order effect, and the second order effect is to scale we need people with experience in capacity planning. And as it turns out big companies like Google, and Facebook, and Amazon pay good money, they pay several 100k a year to people to do that work of capacity planning. And they wouldn’t be doing that if they just had to listen to people yelling on social media to find the answer. Right? It’s much cheaper to do the simple option, except the simple option is not very good because this is a very complex engineering problem. And not everybody is like a very competent engineer in that domain specifically. So put yourself in the shoes of some engineers who have skills in that particular area. They see that happening, and what do they see? The first thing that they see is that if they join that space, they’re going to have some level of competence, some level of skill, and it’s going to be ignored by the leaders in that space, and ignoring their skills is not the best way to value it as it turns out. And so because of that, they are less likely to join it. But there is a certain thing that they’re going to see. And that is that because they are ignored, some shit is going to happen, some stuff are going to break, some attacks are going to be made, and who is going to be called to deal with that? Well, it’s them. Right? So not only are they going to be not valued for their stuff, the fact that they are not valued for their stuff is going to put them in a situation where they have to put out a bunch of fires that they would have known to avoid in the first place. So that’s an extremely bad value proposition for them to go work for us. And if we’re going to be a world scale currency, then we need to attract those kinds of people. And so we need to have a better value proposition and a better signaling that we send to them.
Alright, so that’s the end of the first infrastructure stuff. Now I want to talk about game theory a bit, and specifically, Schelling points.
So what is a Schelling point? A Schelling point is something that we can agree on without especially talking together. And there are a bunch of Schelling points that exist already in the Bitcoin space. For instance we all follow the longest chain that have certain rules, right? And we don’t need to talk to each other. If I’m getting my wallet and I have some amount of money and I go to any one of you here and you check your wallet and you have that amount of money and those two amounts agree. We never talk to each other to come to any kind of agreement about how much each of us have in terms of money. We just know. Why? Because we have a Schelling point. We have a way to decide that without really communicating. So that’s the longest chain, but also all the consensus rules we have are Schelling points. So for instance, we accept blocks up to a certain size, and we reject blocks that are bigger than that. We don’t constantly talk to each other like, ‘Oh by the way do you accept 2 mb blocks?’ ‘Yeah I do.’ ‘Do you accept like 3 mb blocks? And tomorrow will you do that?’
We’re not doing this as different actors in the space, constantly worrying each other. We just know there is a block size that is a consensus rule that is agreed upon by almost everybody, and that’s a consensus rule. And all the other consensus rules are effectively changing Schelling points. And our role as a community is to create valuable Schelling points. Right? You want to have a set of rules that provide as much value as possible for different actors in the ecosystem. Because this is how we win. And there are two parts to that. Even though sometimes we look and it’s just one thing, but there are actually two things.
The first one is that we need to decide what is a valuable Schelling point. And I think we are pretty good at this. And this is why we have a lot of utility and we have a very strong fundamental development. We are very good at choosing what is a good Schelling point. We are very bad at actually creating it and making it strong.
So I’m going to talk about that.
How do you create a new Schelling point. For instance, there was a block size, and we wanted a new block size. So we need to create a new Schelling point. How do you create a new Schelling point that is very strong? You need a commitment strategy. That’s what it boils down to. And the typical example that is used when discussing Schelling points is nuclear warfare. So think about that a bit. You have two countries that both have nuclear weapons. And one country sends a nuke on the other country. Destroys some city, whatever, it’s bad. When you look at it from a purely rational perspective, you will assume that people are very angry, and that they want to retaliate, right? But if you put that aside, there is actually no benefit to retaliating. It’s not going to rebuild the city, it’s not going to make them money, it’s not going to give them resources to rebuild it, it’s not going to make new friends. Usually not. It’s just going to destroy some stuff in the other guy that would otherwise not change anything because the other guys already did the damage to us. So if you want nuclear warfare to actually prevent war like we’ve seen mostly happening in the past few decades with the mutually assured destruction theory, you need each of those countries to have a very credible commitment strategy, which is if you nuke me, I will nuke you, and I’m committing to that decision no matter what. I don’t care if it’s good or bad for me, if you nuke me, I will nuke you. And if you can commit to that strongly enough so that it’s credible for other people, it’s most likely that they are not going to nuke you in the first place because they don’t want to be nuked. And it’s capital to understand that this commitment strategy, it’s actually the most important part of it. It’s not the nuke, it’s not any of it, it’s the commitment strategy. You have the right commitment strategy, you can have all the nuke that you want, it’s completely useless, because you are not deterring anyone from attacking you.
There are many other examples, like private property. It’s something usually you’re going to be willing to put a little bit of effort to defend, and the effort is usually way higher than the value of the property itself. Because this is your house, this is your car, this is your whatever, and you’re pretty committed to it, and therefore you create a Schelling point over the fact that this is your house, this is your car, this is your whatever. People are willing to use violence and whatever to defend their property. This is effectively, even if you don’t do it yourself, this is what happens when you call the cops, right? The cops are like you stop violating that property or we’re going to use violence against you. So people are willing to use a very disproportionate response even in comparison to the value of the property. And this is what is creating the Schelling point that allows private property to exist.
This is the commitment strategy. And so the longest chain is a very simple example. You have miners and what miners do when they create a new block, essentially they move from one Schelling point when a bunch of people have some amount of money, to a new Schelling point where some money has moved, and we need to agree to the new Schelling point. And what they do is that they commit a certain amount of resources to it via proof of work. And this is how they get us to pay attention to the new Schelling point. And so UASF is also a very good example of that where people were like we activate segwit no matter what, like, if it doesn’t pan out, we just like busted our whole chain and we are dead.
Right? This is like the ultimate commitment strategy, as far as computer stuff is involved. It’s not like they actually died or anything, but as far as you can go in the computer space, this is very strong commitment strategy.
So let me take an example that is fairly inconsequential in its consequences, but I think explains very well. The initial BCH ticker was BCC. I don’t know if people remember that. Personally I remember reading about it. It was probably when we created it with Jonald and a few other people. And so I personally was for XBC, but I went with BCC, and most people wanted BCC right? It doesn’t matter. But it turned out that Bitfinex had some Ponzi scheme already listed as BCC. It was Bitconnect, if you remember. Carlos Matos, you know, great guy, but Bitconnect was not exactly the best stuff ever, it was a Ponzi scheme. And so as a result Bitifnex decided to list Bitcoin Cash as BCH instead of BCC, and then the ball started rolling and now everybody uses BCH instead of BCC.
So it’s not all that bad. The consequences are not that very bad. And I know that many of you are thinking that right now. Why is this guy bugging us about this? We don’t care if it’s BCC or BCH. And if you’re doing that, you are exactly proving my point.
Because … there are people working for Bitcoin.com here right? Yeah, so Bitcoin.com is launching an exchange, or just has launched, it’s either out right now or it’s going to be out very soon. Well think about that. Make this thought experiment for yourself. Imagine that Bitcoin.com lists some Ponzi scheme as BTC, and then they decide to list Bitcoin as BTN. What do you think would be the reaction of the Bitcoin Core supporter? Would they be like, you know what? we don’t want to be confused with some Ponzi scheme so we’re going to change everything for BTN. No, they would torch down Roger Ver even more than they do now, they would torch down Bitcoin.com. They would insult anyone that would suggest that this was a good idea to go there. They would say that everyone that uses the stuff that is BTC that it’s a ponzi scheme, and that it’s garbage, and that if you even talk about it you are the scum of the earth. Right? They would be extremely committed to whatever they have.
And I think this is a lesson that we need to learn from them. Because even though it’s a ticker, it’s not that important, it’s that attitude that you need to be committed to that stuff if you want to create a strong Schelling point, that allows them to have a strong Schelling point, and that does not allow us to have that strong of a Schelling point.
Okay, so yesterday we had the talk by Justin Bons from Cyber Capital, and one of the first things he said in his talk, is that his company has a very strong position in BCH. And so that changed the whole tone of the talk. You gotta take him seriously because his money is where his mouth is. You know that he is not coming on the stage and telling you random stuff that comes from his mind or tries to get you to do something that he doesn’t try himself. That doesn’t mean he’s right. Maybe he’s wrong, but if he’s wrong, he’s going bankrupt. And you know just for that reason, maybe it’s worth it to listen to it a bit more than some random person saying random stuff when they have no skin in the game.
And it makes him more of a leader in the space. Okay we have some perception in this space that we have a bunch of leaders, but many of them don’t have skin in the game. And it is very important that they do. So when there is some perceived weakness from BCH, if you act as an investor, you are going to diversify. If you act as a leader, you are going to fix that weakness. Right? And so, leaders, it’s not like you can come here and decide well, I’m a leader now. Leaders are leaders because people follow them. It seems fairly obvious, but … and you are the people following the leaders, and I am as well. We decide to follow the opinion of some people more than the opinion of others. And those are the defacto leaders of our community. And we need to make sure that those leaders that we have like Justin Bons, and make sure that they have a strong commitment to whatever they are leading you to, because otherwise you end up in this situation:

https://preview.redd.it/r23dptfobcl31.jpg?width=500&format=pjpg&auto=webp&s=750fbd0f1dc0122d2791accc59f45a235a522444
Where you got a leader, he’s getting you to go somewhere, he has some goal, he has some whatever. In this case he is not that happy with the British people. But he’s like give me freedom or give me death, and he’s going to fight the British, but at the same time he’s like you know what? Maybe this shit isn’t gonna pan out, you gotta make sure you have your backup plan together, you have your stash of British pound here. You know, many of us are going to die, but that’s a sacrifice I’m willing to make.
That’s not the leader that you want.
I’m going to go to two more examples and then we’re going to be done with it. So one of them is Segwit 2x. Segwit 2x came with a time where some people wanted to do UASF. And UASF was essentially people that set up a modified version of their Bitcoin node that would activate segwit on August 1, no matter what. Right? No matter what miners do, no matter what other people do, it’s going to activate segwit. And either I’m going to be on the other fork, or I’m going to be alone and bust. Well, the alternative proposal was segwit 2x. Where people would activate segwit and then increase the size of the block. And what happened was that one of the sides had a very strong commitment strategy, and the other side, instead of choosing a proportional commitment strategy, what they did was that they modified the activation of segwit 2x to be compatible with UASF. And in doing so they both validate the commitment strategy done by the opposite side, and they weaken their own commitment strategy. So if you look at that, and you understand game theory a bit, you know what’s going to happen. Like the fight hasn’t even started and UASF has already won. And when I saw that happening, it was a very important development to me, because I have some experience in game theory, a lot of that, so I understood what was happening, and this is what led me to commit to BCH, which was BCC at the time, 100%. Because I knew segwit 2x was toast, even though it had not even started, because even though they had very strong cards, they are not playing their cards right, and if you don’t play your cards right, it doesn’t matter how strong your cards are.
Okay, the second one is emergent consensus. And the reason I wanted to put those two examples here is because I think those are the two main examples that lead to the fact that BTC have small blocks and we have big blocks and we’re a minority chain. Those are like the two biggest opportunities we had to have big blocks on BTC and we blew both of them for the exact same reason.
So emergent consensus is like an interesting technology that allows you to trade your bigger block without splitting the network. Essentially, if someone starts producing blocks that are bigger than … (video skips) ,,, The network seems to be following the chain that has larger blocks, eventually they’re going to fall back on that chain, and that’s a very clevery mechanism that allows you to make the consensus rules softer in a way, right? When everybody has the same consensus rules, it still remains enforced, but if a majority of people want to move to a new point, they can do so by bringing others with them without creating a fork. That is a very good activation mechanism for changing the block size, for instance, or it can be used to activate other stuff.
There is a problem, though. This mechanism isn’t able to set a new point. It’s a way to activate a new Schelling point when you have one, but it provides no way to decide when and where or to what value or to anything to where we are going. So this whole strategy lacks the commitment aspect of it. And because it lacks the commitment aspect of it, it was unable to activate properly. It was good, but it was not sufficient in itself. It needs to be combined with a commitment strategy. And especially on that one there are some researchers that wrote a whole paper (https://eprint.iacr.org/2017/686.pdf) unpacking the whole game theory that essentially come to that conclusion that it’s not going to set a new size limit because it lacked the commitment aspect of it. But they go on like they model all the mathematics of it, they give you all the numbers, the probability, and the different scenarios that are possible. It’s a very interesting paper. If you want to see, like, because I’m kind of explaining the game theory from a hundred mile perspective, but actually you can deep dive into it and if you want to know the details, they are in there. People are doing that. This is an actual branch of mathematics.
Alright, okay so conclusion. We must avoid to weaken our commitment strategy. And that means that we need to work in a way where first there is decentralization happening. Everybody has ideas, and we fight over them, we decide where we want to go, we put them on the roadmap, and once it’s on the roadmap, we need to commit to it. Because when people want to go like, ‘Oh this is decentralized’ and we do random stuff after that, we actually end up with decentralization, not decentralization in a cooperative manner, but like in an atomization manner. You get like all the atoms everywhere, we explode, we destroy ourself.
And we must require a leader to have skin in the game, so that we make sure we have good leaders. I have a little schema to explain that. We need to have negotiations between different parties, and because there are no bugs, the negotiation can last for a long time and be tumultuous and everything, and that’s fine, that’s what decentralization is looking like at that stage, and that’s great and that makes the system strong. But then once we made a decision, we got to commit to it to create a new Schelling point. Because if we don’t, the new Schelling point is very weak, and we get decentralization in the form of disintegration. And I think we have not been very good to balance the two. Essentially what I would like for us to do going forward is encouraging as much as possible decentralization in the first form. But consider people who participate in the second form, as hostile to BCH, because their behavior is damaging to whatever we are doing. And they are often gonna tell you why we can’t do that because it’s permissionless and decentralized, and they are right, this is permissionless and decentralized, and they can do that. We don’t have to take it seriously. We can show them the door. And not a single person can do that by themself, but as a group, we can develop a culture where it’s the norm to do that. And we have to do that.”
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Weekly Update: $WIB, $VID, $CHZ on ParJar, Pynk crushes Web Summit, XIO swap bridge, Sentivate reorg... – 1 Nov - 7 Nov'19

Weekly Update: $WIB, $VID, $CHZ on ParJar, Pynk crushes Web Summit, XIO swap bridge, Sentivate reorg... – 1 Nov - 7 Nov'19
Hi folks! We are catching up real quick. Here’s your week at Parachute + partners (1 Nov - 7 Nov'19):

Three new projects and their awesome communities joined the Parachute fam this week: Wibson, VideoCoin and Chiliz. Welcome! And if you missed, we also added Shuffle Monster, Harmony and CyberFM last week. #cryptoforeveryone is getting bigger by the day. Woot woot! In this week’s TTR trivias, we had Richi’s movie quiz qith a 25k $PAR pot. Charlotte's Rebus trivia in TTR on Tuesday had 25k $PAR in prizes for 10 Qs. Noice! Jason’s creative contest for this week was #artdeadmin: “draw/paint/sketch/whatever you imagine a group of the parachute admins doing together”. Click here to check out some of the entries of the TTR Halloween photo contest from last week. Doc Victor (from Cuba) hosted a Champions League wager round in tip room. And congrats to Victor (Anox) for passing his final Medical exams. We have 2 Doc Vics now. One from Cuba and the other from *redacted*.
Some of the top #artdeadmin submissions. Insane talent!
Jason’s running medal collection. Say what!
Andy shared the latest standings in the Parachute Fantasy Football League (#PFFL). Clinton (7-2) is on top followed by Chris (7-2) in second place and Hang (7-2) in third place. So close! As we rolled into November, Parachute crew signed up for Movember. So now we have 3 teams from the Parachute fold, doing a no-shave November for men’s health issues: Parachute (Tony, Cap, Alexis, Cuban Doc Vic, Richi), TTR (Vali, Ashok, Tavo, Alejandro, Marcos, PeaceLove) and TTR-Ladies (Mery, Martha, AngellyC, Liem, Durby, LeidyElena, Charlotte). Show them some support peeps! This is all for charity. Show them some support folks! This week’s #wholesomewed was about “your most precious possession and give us the story of why it is so precious to you”. A whole lot of $PAR was given out for some real wholesome life stories. Best. Community. Eva! Two-for-Tuesday theme for this week: colors! As always, a melodic Tuesday thanks to Gian! And thank you Borna for writing about Parachute and ParJar on the Blockchain Andy blog.
<- This is where Jose creates his magic. Respect / Cuban Doc Vic’s doggo, Symba, could easily be a TTR mascot. Good boi! ->
This week at aXpire there were two separate $AXPR burns: 20k of last week and 200k of this week. Last week’s news recap can be seen here. Congratulations to the team for being conferred the honour of being handed a key to Miami-Dade County by Mayor Carlos A. Gimenez at the 2019 Miami-Dade Beacon Council Annual Meeting & Key Ceremony. aXpire's disruptive solutions like Resolvr (expense allocation), Bilr (invoice management) and DigitalShares (deal marketplace) help hedge funds and PE firms scale through better profit margins. How? Read here. Did you know that the 2gether Ambassador Zone lets you customise referral messages with a #PicOfTheDay while you earn some sweet 2GT rewards? Super cool! There was an upgrade to the platform this week that might have led to a temporary deactivation in withdrawals while the update was being deployed. CEO Ramón Ferraz’s interview by BeInCrypto was released. Founder Salvador Algarra travelled to an ABANCA event for a keynote speech on Fintech innovation. Next week he will be at Rankia's Blockchain and Crypto Tech gathering to speak on "Blockchain, from predicting the future to building it". CardRates’ feature article on 2gether came out this week. The BOMBX:XIO token swap bridge went live. The swap will be open till 15th December. Plus, $XIO is now listed on DDEX and Switcheo. There were some disruptions in the bridge from time to time because of heavy traffic. Hence, the team also set up a manual swap page as an alternative solution. And please be wary of scammers posing as admins to help with the swap instructions. For any doubts, always reach out to accounts with admin tags on the official Telegram channel. The first set of incubated startups will be revealed on the 22nd of November. Ever wanted to find out about the people who frequent the BOMB token chat? Well, the BOMB Board is running a "Humans of Bomb" series to feature some of the most active members. This week, say Hello to Gustavo.
Key to Miami-Dade County awarded to aXpire. Cool!
WednesdayCoin’s founder Mike floated the idea of making WednesdayClub open on all days. The nature of the $WED token will not change on chain. Just that it will be usable inside the DApp everyday. What do you think? Let him know in the Reddit thread. Birdchain’s $BIRD token was listed on Mercatox this week. A new monthly referral contest was launched as well. 50k BIRD tokens to be won. Nice! Want the SMS feature to be released in your country? Start promoting! A featured article on Chainleak capped off the week perfectly for Birdchain. $ETHOS, $AXPR (aXpire), $HYDRO, $BNTY (Bounty0x) and $HST (Horizon State) were added to the eToro Wallet. The airdrops for Switch’s various token holders were distributed this week. As mentioned earlier as well, $ESH and $SDEX are revenue sharing tokens. Winners of the John McAfee contest and trading competition were announced. Congratulations! Tron blockchain support will be added to the Switch-based McAfeeDex next week. The news was covered by Beincrypto, U Today, Crypto Crunch, Altcoin Buzz and Tron’s Justin Sun as well. The Dex was featured in a Forbes article about John McAfee’s views on Libra. The latest community contest at Fantom involves writing educational articles on the platform. If you have been following Fantom developments, then this would be a breeze. Also, USD 100 in FTM tokens to be won. Sweet! Check out the cool $FTM merch on display at Odd Gems fashion. Even though these are not official gear, they have the blessings from the project. CMO Michael Chen sat down for an interview with Crypto Intelligence India to talk about the upcoming mainnet launch. The crew also appeared for an AMA with Atomic Wallet community. The latest technical update covers "Golang implementation of Lachesis consensus" or Go-Lachesis in short. Check out its demo with 7 nodes here.
Parachute presentation (WIP). That’s right. 500k transactions and counting. Wow!
While the Uptrennd Halloween contest got over last week, AltcoinBuzz made a friggin amazing graphic! Don’t forget to follow the Ann channel to stay up to date with the latest from Uptrennd. Founder Jeff Kirdeikis also announced that he will be working closely with PrefLogic on Security Tokens. Jeff’s interview with MakerDAO Biz Dev Gustav Arentoft came out. After some upgrades on Uptrennd, withdrawals are live again. Instead of the weekly meme contest, there was a flyer contest this week. 5k $1UP prize pool for winners. Wicked! The latest community picked TA report was on ETH. And the crew reached Malta for the AIBC Summit. More pics next week! Did you know that you can get Opacity Gift Codes for various plans at ShopOpacity.com? If not, make sure to read up on the Opacity October update. Catch up on the latest at District0x from the District weekly. The District Registry was live demo’ed. Looks cool! Hydro crew travelled to the Web Summit in Lisbon to spread word on the project. They were also represented at the Chicago fintech science fair this week. For a summary of the last few weeks gone by at Hydrogen, you can read the Project update and Hydro Labs update. We have covered most of these in previous posts. For the latest scoop on Hydro Labs, there’s always the Ann channel. Silent Notary’s Ubikiri wallet is undergoing upgrades. One of which is, wallets will be auto-named after creation. A ton more upgrades to be released. Sentivate announced a reorganisation in the company in order to devote full focus on Sentivate. The parent company will close and all resources will move to Sentivate. Here’s another use-case story to emphasise the potential of Universal Web. In the latest community vote on Blockfolio, folks voted overwhelmingly Yes on whether they would like to see more explainer articles on web tech. Also, the epic shoutout from Scott Melker (The Wolf Of All Streets) has to be the best thing ever!
Updated Sentivate roadmap for next 3 months
Pynk travelled to the Web Summit in Lisbon (wonder if they crossed paths with Hydro and SelfKey teams) as an official delegate of the Mayor's International Business Programme and were featured by KPMG. How to catch people’s eyes in a Summit where everyone is trying to grab your attention? With LED back packs. Genius! Such a lit idea, that even Web Summit tweeted it. Woohoo! And then they rocked a series of pitches to get to the big stage. Wins in Round 1 and quarter finals ensured an entry into the semi finals on the main stage. Click here to watch their presentation. Great job guys! Business Insider Poland included Pynk in their list of 12 Fintech companies worth following. The latest Pynk Tank episode delves into deep fakes in political advertising. One of the upcoming features on the platform will be the addition of gold to the daily price prediction tool. Pynk has "absolutely no interest in Bitcoin fanatics, ‘bagholders’ or ANYONE who mentions moons or Lamborghini’s. It’s tacky". This vibes perfectly with Parachute. Read more on Pynk's guide to becoming a super-predictor here. Horizon State announced that it will be resuming business under a new management. Welcome back! The original $HST token will not be supported anymore. The team will be looking into how the token holders are included in the new system. DENGfans, don’t forget to check the mini-projects posted by Mathew in the Telegram channel. Look up #getDENG in the channel. If you’re proficient in excel and VB, get in touch. Shuffle Monster’s $SHUF token is now listed on Dex.ag which acts as a decentralised price aggregator. CyberFM distributed the $CYFM payouts for October this week. Total payout as of 1st Nov is USD 266k+ in crypto. Say what!
Pynk’s LED back packs are a stroke of genius
OST’s Pepo was the 19th most popular dApp on State of the DApps last week. This week it climbed to the 16th position. Upcoming features on Pepo include video replies, threads and debates. Stay tuned! OST crew was at the Web3 UX Unconference in Toronto to talk all things UX. Next week they will be at ETHWaterloo to present and judge the UX award there. SelfKey’s $KEY token got listed on Hong Kong’s Lukki exchange. Like Hydro, the SelfKey team also attended the Web Summit in Lisbon for networking. If you were there, hope you said Hi. Ever wondered how Distributed Identity keeps your information private and safe when blockchains are supposed to be public? Click here to find out how SelfKey does this. More insight was shared into the Chainlink partnership this week by Constellation CEO Ben Jorgensen. The team attended the Air Force Space Pitch Day where it was selected to pitch the platform to attendees. Go get’em! How and why does Constellation do things? Check out the Constellation Principles. The October update for Yazom covers news such as alpha build of the app nearing completion, ongoing deal negotiation with clients etc.

And with that, we close for this week in Parachuteverse. See you again soon. Ciao!
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Bitcoin Signals Live buy sell - YouTube Bitcoin Signals Live buy sell - YouTube BREAKING NEWS! BITCOIN 'BUY' SIGNAL FOR 2020!  Chainlink GAINS!Binance Crypto Debit Card Buy ETH? Bitcoin Signals Live buy sell Bitcoin Signals Live buy sell

Decentralized exchanges are generally liked for their transparency and lack of custody, reducing the trust requirements in their operators. Many centralized exchanges have been caught in a peculiar type of manipulation used to inflate their trading volumes. This was first highlighted by the Bitwise Report released in March 2019, which analyzed trading patterns on some […] Bitcoin gained around 2% and it broke the $9,500 resistance against the US Dollar. BTC is currently consolidating gains and indicators suggest high chances of more upsides above $9,600. Bitcoin is up close to 2% and it surpassed the key $9,500 resistance level. The price traded to a new monthly high at $9,568 and it […] The advantages embedded within a decentralized network are numerous, as this form of exchange holds many prospects. One notable advantage of a decentralized Bitcoin exchange network is the security of investor funds. With a decentralized exchange network, a trader does not need to depend on any third party to facilitate Bitcoin exchanges. Learning how to read crypto charts is an essential skill for anyone interested in trading Bitcoin successfully. At first glance, trading charts can seem like a foreign language. All the confusing lines, shapes, and colors can make it seem very intimidating for beginners. Additionally, learning technical analysis requires that you begin to learn the jargon… For example, if the pair is trading at $3,500, it means that it takes $3,500 US dollars to buy 1 Bitcoin. Breaking Down “BTC/USD” In January 2009, the financial world changed forever when the ‘genesis block’ of Bitcoin was mined by an anonymous person (or persons) using the pseudonym Satoshi Nakamoto.

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Bitcoin Signals Live buy sell - YouTube

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