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ColossusXT Q2 2020 AMA Ends!

Thank you for being a part of the ColossusXT Q2 2020 AMA! Below we will summarize the questions and answers. The team responded to 46 questions! If your question was not included, it may have been answered in a previous question or AMA. The ColossusXT team will do a Reddit AMA at the end of every quarter.
The winner of the AMA contest is: ookhimself
Congratulations. I will send you a DM on Reddit.
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Q: Why does your blockchain exist and what makes it unique?
A: ColossusXT exists to provide an energy-efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have 1 layer of privacy. ColossusXT and the Colossus Grid will utilize 2 layers of privacy through Obfuscation Zerocoin Protocol, and I2P and these will protect users of the Colossus Grid as they utilize the grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video, and audio streams-all will be reborn as services that live in cyberspace, assembling, and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.
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Q: What is the Colossus Grid?
A: ColossusXT is an anonymous blockchain through obfuscation, along with utilization of I2P (Armis). These features will protect end-user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end-users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist.
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Q: Is there any estimated date for the grid? What will set you apart from the opposition?
A: We are hoping to have something released for the community in Q4 this year. The difference between other competitors is that ColossusXT is putting consumer privacy first and we’re actively in the process of working with federal and state agencies in the United States.
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Q: How do you plan to get people to implement the technology? At your current rate of development, when do you foresee a minimum viable product being available?
A: We have been strategically networking with businesses, and we are currently undergoing the verification process in the United States to make bids on federal and state projects. We are working on an MVP and our goal is to have at least a portion of the Colossus Grid ready by Q4 2020.
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Q: When we can expect any use-case for COLX? A company or service that uses COLX for its activities/tasks.
A: We’re aiming for Q4 of this year to have an MVP, throughout 2021 we will be strategically making bids on federal and state contracts in the United States with a goal to expand operations exponentially.
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Q: Are there any plans to be listed on the more prominent exchanges e.g binance, kraken?
A: Yes, we have applied to some of these exchanges that are considered Tier 1 or Tier 2 exchanges. Many of them upfront will tell you there are no fees associated with the listing, that is not entirely true most of the time. Regardless, have applied and are awaiting more responses as we move forward. Listing on these exchanges often requires that we cannot announce this information until ColossusXT is live on its platform.
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Q: Partnerships are the norm these days in crypto world. Which partnership would you consider feasible, if any, in order to grow the Colossus Grid project?
A: The Colossus Grid is a huge undertaking both in development and business partnerships. We are moving in both these directions strategically. One of the most important partnerships is not really a partnership but approval to bid on state and federal contracts. Working with the governments around the world will be a big part of the Colossus Grid use-case.
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Q: If the ability to annonymise coins is turned off, can CLX still be marketed as a privacy coin? Do we have a date we can start using this feature again?
A: Yes and No. It’s frustrating right now having a lack of privacy for consumers as we don’t see privacy as a feature but a right. EVERY platform online should have some levels of privacy for their consumers, especially as technology continues to evolve and bad actors continue to use your personal information for their own nefarious purposes. Obfuscation will be implemented in the coming weeks, and Armis will follow suit shortly thereafter.
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Q: When can we expect the grid to come out?
A: We are looking at releasing an MVP towards the end of the year. Stay tuned during Q3 and Q4 as we ramp on technical and business developments.
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Q: Can you tell the current budget for development work?
A: Much of the development work budget comes from Core team member's disposable income, we also use the self-funding treasury that Masternode owners vote on each month.
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Q: Will cold staking be implemented somedays? I like the model of Cardano. Hope you will implement kind of Cardano staking in our wallet. I would love the easiness.
A: ColossusXT staking has been enabled since 2017. We have calculators on the website that will estimate your average staking returns and you can join numerous pools to increase your staking power within the pools. Cold staking is on our radar and will make it into the roadmap when our budget allows us.
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Q: Which part of grid technology are you planning first to go live? Storage/RAM/CPU/GPU/all at once? Separately?
A: We will be rolling the Colossus Grid out in two phases. The first phase will be storage, and then we will roll out computing power (RAM/CPU/GPU).
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Q: Is Armis I2P technology in development testphase I mean, I have read something like that… If Armis goes live, will there be some kind of option in deskopt wallet to transfer anonymous or will every transaction be fully anonymous like e.g. monero?
A: We recently had a testing phase with the community earlier this year, there will be another test phase with community participants who sign up. If you’re interested in this stay tuned on our socials and apply when the next testing phase happens All transactions will be fully anonymous behind Armis.
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Q: What programming languate is being used for developing COLX? How well this programming language do you think is more suitable for developing crypto, in comparison with other programing languages?
A: C++ is what we’re using at ColossusXT. Each crypto project is different but with what we're developing at ColossusXT. We are best suited to utilize C++.
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Q: What is the second biggest milestone other than launching the grid network for the team. What do you think of your competition like Golem network?
A: Armis will be a big milestone, and I don’t think we go back to our Polis partnership which allows users in Europe and Mexico (they do plan to expand to the US and other countries) the ability to spend their ColossusXT (COLX) wherever Mastercard is accepted. I don’t think the Golem network is taking consumer privacy far enough, in the blockchain industry I also see a lack of drive to push adoption within the United States. This is likely due to unclear regulations right now. ColossusXT is at the forefront of these issues and we intend to lead blockchain through these somewhat murky waters.
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Q: I don’t have a lot of knowledge about crypto-technology… but are there any risks of sensitive data-hijacks through Colx infrastructure? Will the Colx-grid be available for individuals or only larger corporations, and how would one get access to the computing power?
A: There are always risks with technology. We are doing extensive testing and more testing prior to releasing anything. Consumer privacy is apart of the foundation of what we’re building at ColossusXT and we want to ensure any and all of your personal information is secure and private. As technology evolves, we will be right here evolving with it to ensure that consumer privacy protections are always in place.
The Colossus Grid will be available to anyone with a computer. You will access it through the desktop wallet.
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Q: Do you have any new exchange listings planned in the near future?
A: Yes, but unfortunately with these things, every day it’s not something we can often say before the exchange makes their own announcements. If you have certain exchanges that you prefer, do not be shy and tag us on Twitter letting us and the exchange know. You can also reach us everyday at all hours of the day and night on Discord and Telegram.
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Q: Given that Colx had no ICO, are we able to ramp development efforts in case we have potential partnership deal on the table?
A: It really depends. We strategically spend every dime we spend on development. We do not like even a single penny to be waisted, so we don’t move as fast as the projects that raised millions of dollars, but we continue moving none the less. Ramping up our development is something we are working on by securing additional funding and we’re currently working on securing funding. 😊
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Q: How is the project development advancing? What are your plans for the next 5 years and what more can we expect from ColossusXT?
A: Our development is continuing on at a steady pace, we’re looking to ramp this up over the next year as the Colossus Grid will take much of our time but we’re excited. Over the next 5 years, you can expect the Colossus Grid to be live in all forms (storage and computing power), Armis will be released and we will share many technical details on how this consumer privacy protection rivals some of the other privacy protections in the blockchain industry. We expect to be verified and approved to work with the agencies in the United States long before then as well and will be aggressively pursuing federal contracts to utilize the computing power of the Colossus Grid. In 5 years, we plan to be a key player not just in the blockchain industry, but throughout the world. If you do not know ColossusXT now, expect to in 5 years or less.
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Q: Users often care less about technology, but rather the value of the token. How do you manage to strike a balance between developing the technology and also improving the value of COLX? There are so many privacy coins now, all of them claiming to have better features that ColossusXT. Moving forward, what do the next 10 years look like for ColossusXT in navigating the wave of privacy projects coming. How can ColossusXT continue to shine in the midst of seemingly legit projects that have come to challenge ColossusXT like mimblewimble projects and Monero, Zcoin, ect.?

A: The Colossus Grid and Masternodes will have a strong relationship with each other. When the Colossus Grid goes live we expect the masternode demand to continue to rise. Masternodes are a great incentive mechanism to increase network strength and will play an important role within the Colossus Grid. The more masternodes online, the less available coins in the circulating supply; which we expect will eventually reflect ColossusXT (COLX) coin value.
Over the next 10 years, ColossusXT (COLX) will solidify itself as a key player in the blockchain industry, and outside the blockchain industry. Following our strategic business plans, we intend to be one of the first, if not the first to truly bring government and other businesses into the blockchain industry through the Colossus Grid. Armis will be our defining privacy feature, which we expect in time will begin to be adopted by other projects. --------------------------------------------------------------------------------------------------------------------------------------------------
Q: How have the number of Masternodes (MNs) increased/decreased over time/in the past few years? What proportion (%) of MNs actively take part in Governance? How do you see the number of MNs increasing/decreasing in the next couple of years? Is there a trend upwards or downwards?
Is there a specific number (or range) of MNs the team would like to attain ideally? Is it better to have as many MNs as possible or is there a point at which too many MNs start to have an adverse effect on the performance of the blockchain?
Hope this wasn’t too many questions in one :), Ahmed

A: The number of masternodes in the active network is more or less the same, fluctuating around 200-220. About 40% - 50% of masternodes participate actively in governance (see https://governance.colossusxt.io). We expect a number of masternodes to grow as they will have additional benefits with Colossus Grid (see business plan: http://bit.ly/COLXBPLive).
As the team had no premines, only the dev fund can be used for masternodes which is hard to maintain due to actual budget flow. It’s better to have as many masternodes as possible for the network, there is no adverse effect.
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Q: Of all the milestones that $COLX has achieved since your humble beginnings, which do you consider to be the best of it all? What achievements do you feel proud most?
A: It’s often not mentioned but I’m very proud of our partnership with PolisPay, which allows ColossusXT community members to purchase Amazon, Spotify, and other gift cards with ColossusXT (COLX) through the Polis platform. You are also able to spend your COLX anywhere Mastercard is accepted, the card is available only for EU citizens right now and the Polis team hopes to bring in other countries in the future.
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Q: There are problems that can slow down the course of a project such as the emergence of globalization, given the tighter budget, shorter implementation time requirements. My question is, How does $COLX resolve the issue?

A: Given the current situations around the world the Colossus Grid has more value than it ever has, and that value will continue to grow once we have released the Colossus Grid for consumers to share and utilize resources. You can already see from the [email protected] initiative that people are eager to share their computing resources to help researchers simulate different COVID19 simulations. We’ve always worked on a very small budget at ColossusXT starting with 0$ in funding and no pre-mine or ICO/IEO. This project was built for the community by the community, and as of lately we’ve actually been ramping up our business strategies and developments. Since we have all already worked remotely before the COVID19 pandemic, it interestingly allowed us more time to focus and achieve these goals as our day jobs allowed us to spend more time on ColossusXT.
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Q: How will you fight with regulators who are trying to stop privacy coins?

A: We have an amazing legal team at ColossusXT, and they are on top of any new law or regulation that comes out. We’re not afraid of regulators and our legal team makes sure that everything we do for ColossusXT is law-abiding. It's time the world stops looking at privacy as a feature and as a right, especially when you read about different applications and platforms using your personal DATA for their benefit. ColossusXT will continue to push this, and we're prepared to lobby this to lawmakers. --------------------------------------------------------------------------------------------------------------------------------------------------
Q: What type of utilities can $COLX give to users over its competitors like GOLM (computation) or STORJ (Data)?

A: The Colossus Grid has some major differences between Golem and Storj. One we’re a privacy-focused project. If you take a look at many of these applications and platforms today, in some way or another you’re giving up personal information, and/or geographic information. ColossusXT is focused on protecting consumer information, we do not look at privacy as a feature, we see privacy as a right, especially in the tech world today.
The second part of this question is that we’re currently in the verification process of registering with the United States federal and state governments so that we can legally bid on federal and state projects and work with different agencies. This will ensure that as the community members are sharing their idle resources, large corporations and businesses are using it. I’m not aware of the mentioned projects being registered in the United States or taking steps to work with the United States government.
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Q: How will computing power and storage sharing look like, for an average user (marketplace, program download)? What are you currently working on, when can we expect MVP? TY
A: The marketplace and Colossus Grid will be inside the ColossusXT desktop wallet that you currently have now. The UI/UX will change some to allow the additional settings and tabs that will become available and we’re preparing an MVP right now and we hope to share those details with you over the next few months, ask us again in the Q3 AMA if you haven’t seen anything yet :)
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Q: What would you say is the $COLX killer feature that sets it apart from the rest of the competition.
A: We believe that Armis is our killer feature. We recently had a beta this year with the community and will be moving forward later this year with Armis. ColossusXT consumers will have their geographic location and IP fully hidden behind the Armis layer for further security and anonymity for the transactions which will also take place in the Colossus Grid resource marketplace in the future.
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Q: I have been a silent follower of $COLX and I must say that I'm truly impressed with how the team has been diligently working on the project. It'd be nice to have the community be part of something like a bounty or a social awareness contest. As this will not only attract more users to the platform but would also strengthen the bond within the community. When can we possibly expect a community project of this level? #spreadthegrid
A: We currently have a Gleam competition ongoing for social awareness, and we just hired a community manager to spread more community awareness and will be rolling on competitions more regularly. Every quarter we have an AMA on Reddit for the community to ask questions, or just gripe at us, and one person each quarter is awarded 100,000 COLX for participating in the AMA. As we deliver our targets and grow, we will shift more funds from development funds to marketing funds to raise further awareness.
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Q: "Our main competitor is crypto adoption. We are all here to make it happen together.", this is quoted from a founder of a known crypto wallet. Do you see competition as something that strengthens the project as a whole or as a possible distraction due to pressure to be at the top of the crypto ecosystem?

A: This is a two scenario situation. Competition is good for ColossusXT, and we look at our main competitor in blockchain as Golem (GNT), having said that though too much competition or sometimes maximalist behavior isn’t good for crypto, many of these projects should be coming together to lobby lawmakers for laws and regulations that are good for the blockchain industry, as this is still an emerging market and the laws and regulations aren’t exactly in place at this time.
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Q: "For people to believe in crypto, they need to understand the tangible benefits it offers to our society.", a remark made by a crypto project in the past. What exactly would be $COLX real life global benefits? And how do you plan on achieving this?
A: ColossusXT vision will be achievable when the Colossus Grid is released. We are currently in the process of registering with state and federal agencies in the United States, once we are registered to work with these agencies we will pursue contracts with the government, cybersecurity firms and colleges all around the United States, and the world to utilize the resources on the Colossus Grid. We’ve already started building business relationships for this very purpose.
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Q: According to you how much time will it take for $COLX to get into mainstream adoption and execute all the plans set for this project?
A: It’s almost impossible to set a timeline on when the world/people will begin to adopt ColossusXT (COLX) and the Colossus Grid. We don’t believe that adoption for ColossusXT will happen before the Colossus Grid is live, and if I gave you an exact timeline for when or how long it will take you for the Colossus Grid to be adopted I would be lying to you, but we are already forming business relationships and making strategic moves to be able to bid, and work with state and federal agencies in the United States.
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Q: Does Tokens.net plan any kind of staking ($COLX or other coins)?
A: We will reach out to the tokens.net team and see if they have any plans to allow staking.
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Q: How will you try to boost adoption of #COLX, how do you think you will motivate programmers to join opensource project?
A: The Colossus Grid will be available for anyone to use, or share their idle resources for other consumers to use. We will be focusing on providing these resources to state and federal governments, cybersecurity firms, and researchers all across the world. Certainly, we expect some community members to use these resources to mine different PoW cryptocurrencies, but the team at ColossusXT will be focused on bringing in large colleges and universities as well as big cybersecurity businesses that may need supercomputing power at 1/10th of the current prices. Our programmers are our only paid team members, and we pay them at a competitive rate. We’re looking to bring in some more programmers later this year.
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Q: Do you have any special development funds for programmers?
A: Sometimes we pay our programmers out of our own pocket, sometimes we pay them in ColossusXT. It really depends on what kind of agreements have been made. We have been aggressively pursuing different funding opportunities throughout 2020 so that we can expand our development team and in the future, we may have incentives to drive programmers into joining our team. Right now we just stick to a competitive pay scale within the industry.
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Q: Why Android Wallet Revision hasn't been done? Any problems?
A: The Android wallet revision took some time to be approved in the Google Playstore, but it has been released and live since June 15, 2020.
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Q: Whats the second biggest milestone other than the grid network for COLX team?
A: Armis is likely to be considered our second biggest milestone this year, although as I mentioned above this can easily be overshadowed by our Polis partnership which allows you to spend ColossusXT (COLX) anywhere Mastercard is accepted. Although the epay debit card ownership is currently restricted to certain countries (EU zone only), these restrictions will lift in time.
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Q: How is COLX team going to contribute to crypto adoption, other than building a robust network?
A: We’re already in the process of verification to work with state and federal agencies. Adoption for blockchain projects isn’t going to move fast. I read a report just a few days ago about how scammers in the crypto industry stole over 2 million dollars worth of crypto just from the “Elon Musk” impersonations on Twitter.
We will continue to build our network, and seek out state and federal agencies as well as private cybersecurity firms that can utilize the Colossus Grid, we’re not just focused on making noise on social media, we intend to make noise throughout the entire world.
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Q: Are their industry partners to COLX that are awaiting your network to go live?
A: Yes, although I hesitate to go into too much detail here. We are talking with business leaders.
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Q: The ongoing crisis affected the market badly, making many projects far from their targets. What is $COLX strategy in order to survive and pass through this crisis?
A: I agree it affected the market badly, especially the projects that raised hundreds of millions of dollars in crypto and held it through the entire market correction. ColossusXT strategy is different from those affected, we’ve always had a smaller budget than these large projects. We spend the money we have available very wisely, and we’re not in a hurry to grab something that sounds good without doing our due diligence. We make our moves very strategically.
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Q: I gotta ask, what made $COLX decide to get listed on Tokens.net? What beneficial advantage does $COLX get in doing so? How about Tokens.net?
A: Tokens.Net is one of the best exchanges ColossusXT is listed at the moment in comparison to others in terms of volume.
  1. Tokens.net is one of the most secure and transparent exchanges out there, registered in the UK.
  2. The team behind the exchange has deep roots in the crypto/blockchain space, it was co-founded by Damian Merlak, a crypto-pioneer and co-founder of Bitstamp.
  3. Tokens.net provides free auto-trading tool / Market Making Bot. Their Dynamic Trading Rights concept adds transparency to trading volumes.
  4. They allow the community voting option of only truly decentralized projects after a thorough screening.
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Q: Hey everyone! What is the main purpose of the coin $COLX, does it have its own chain or is it some sort of an ERC-20 token? Thank you for the answers.
A: ColossusXT has never been an ERC-20 coin. We have been operating on our own mainnet since 2017. The purpose of ColossusXT (COLX) is to be the native currency of the Colossus Grid. This will allow users to share their idle resources on their computers, and consumers will rent/buy those resources to complete whatever they intend to use them for, from processing large DATA to running scientific simulations, to even mining PoW cryptocurrencies.
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Q: When we can expect any usecase for COLX? A company or service that uses colx for its activities / tasks.
A: There are currently use cases now if your location allows you to utilize the Polis Pay app, or if you have a Polis Pay card you can buy things with ColossusXT (COLX). I myself have tested the card buying gas at a gas station. These are not ColossusXT’s primary focus though and much of our use case will not start until the Colossus Grid is live.
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Q: What pairs will colx have to trade with on tokens.net // Will you connect #COLX with USDT EURS or BTC?
A: ColossusXT will be initially paired with Bitcoin (BTC). If the community would like different pairs, they can certainly request them and we will reach out to tokens.net and work to facilitate requests.
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Q: Will you try to convince users to trade on tokens.net if so how will you do it?
A: There is currently a gleam competition for users to sign up and trade on tokens.net. We “shill” tokens.net accordingly through social media to the ColossusXT community, but can’t really convince anyone to use a certain exchange, although we will try to push as many members to tokens.net as we can. We have many masternode holders who reside in the United States and they are not yet allowed to trade on tokens.net.
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Q: How will you try to create liquidity for your pairs?
A: We would like to increase the adoption rate with real-world partnerships such as our partnership with PolisPay for the use of gift/debit cards. As the liquidity is linked with the use cases, supply/demand mechanics, we are also preparing to provide additional use cases of COLX for the crypto world in an innovative & pioneering way; for the time being, we can hint this as a side business till we deliver fully operational Colossus Grid.
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Q: How big is a development team of #COLX?
A: The ColossusXT team is probably bigger than some people realize, partly because many of the team members are very private. We have 9 core members, 2 in-house developers, 3 Colossus Grid architects, and 2 Colossus Grid developers.
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Q: Do you have some security guys in the team?
A: Yes, although I’m hesitant to share too many personal details about team members. We have core team members who have been working in different fields of IT security for several years.
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Q: Since #COLX is planning on having some sort of a marketplace where you can take advantage of computing resources and the blockchain as well, are there any plans on introducing smart contracts? Will it help the grid? Is there a place for it?
A: This has been mentioned a few times in the past so it’s something on our radar, it’s currently not in the development timeline as the Colossus Grid is a massive amount of work. There may be a place for it as the blockchain industry evolves, and I can certainly see some cases where a smart contract can add some value to the Colossus Grid.
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Important Information:
Website
Whitepaper
Roadmap
Business Plan
Wiki
Governance
Partners
GitHub
What is ColossusXT? (YouTube)
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Follow ColossusXT on:
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Forums
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AMA History:
2018 Q1 2018 Q2 2018 Q3 2018 Q4
2019 Q1 2019 Q2 2019 Q3 2019 Q4
2020 Q1
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Đánh giá toàn diện về Mitrade-có phải là nhà mô giới đáng tin cậy?

Đánh giá toàn diện về Mitrade-có phải là nhà mô giới đáng tin cậy?
https://preview.redd.it/8wtcp5n7iwb41.jpg?width=1920&format=pjpg&auto=webp&s=dbf483690e784f136073a6b4529936aff538d9e0
Laura Lin-CEO của Mitrade-đã khẳng định lời nói trên với người sử dụng. Điều đó đã thấy rằng tiềm năng Mitrade phát triển tại thị trường Việt là rất cao. Bằng chứng là gần đây rất nhiều người Việt đã sử dụng và tìm kiếm thông tin về Mitrade. Bài phân tích này sẽ giúp các bạn tìm hiểu rõ hơn về Mitrade. Nó có phải là 1 nhà môi giới uy tín? Có đáng để đầu tư trong năm 2020?
1.Giới thiệu khái quái về Mitrade.
Mitrade tên tiếng anh là Mitrade Global Pty Ltd là nhà môi giới giao dịch ngoại hối (FX), hàng hóa, chỉ số, tiền điện tử trực tuyến và cung cấp các dịch vụ về Hợp đồng chênh lệch.
Mitrade được ủy quyền và quy định bởi Ủy ban Chứng khoán và Đầu tư Úc (ASIC) và có Giấy phép Dịch vụ Tài chính Úc (Số Giấy phé AFSL là 398528).
Mitrade có trụ sở tại Melbourne, Úc, Mitrade được thành lập bởi một nhóm các chuyên gia giàu kinh nghiệm và hiểu biết chuyên về giao dịch Hợp đồng chênh lệch (CFD) và các ngành công nghệ tài chính. Đã từng đạt nhiều giải thưởng và chứng nhận.

https://preview.redd.it/5ky486qhiwb41.jpg?width=1432&format=pjpg&auto=webp&s=c87cb013f624eed2e71b3d6e068550322b514971


2. Đánh giá tổng quan của người Việt về Mitrade.
WikiFX tại Việt Nam đã đánh giá Mitrade với số điểm vô cùng tích cực. Vậy WikiFX là gì?
WikiFX-một nền tảng dịch vụ bên thứ ba cung cấp các truy vấn về tính chính quy, hợp pháp và chân thật trong giao dịch ngoại hối.
Công ty WikiFx là công ty đa quốc gia chuyên lĩnh vực cung cấp nền tảng thứ ba về tính chính quy,hợp pháp và chân thật trong giao dịch ngoại hối và hiện đã thành lập các chi nhánh công ty tại HongKong, Sydney và Thành phố Hồ Chí Minh V.V.
WikiFX dựa trên những dữ liệu có cơ sở và những công nghệ tối ưu nhất để đánh giá tổng hợp một cách toàn diện các sàn giao dịch ngoại hối từ giá trị giấy phép, trình độ cai quản, chất lượng phần mềm, khả năng tránh giảm rủi ro và sức mạnh nghiệp vụ.

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Vì Mitrade mới vào thị trường VN, số điểm so với các nhà mô giới gạo cội tại Việt Nam thì số điểm này chưa thể cao bằng; Nhưng đối với một nhà mội giới mới, điểm số này đã khá tốt rồi.
Và Mitrade đang phát triển mạnh mẽ, Mitrade đang đưa ra nhiều chương trình khuyến mãi đa dạng và hấp dẫn. Ngoài ra để cạnh tranh với các nhà mô giới khác, Mitrade đã giảm chi phí giao dịch trên nền tảng của mình xuống mức tối thiểu.
3. Ưu và nhược điểm của Mitrade.
*Ưu điểm
  1. Mitrade được ủy quyền và quy định bởi Ủy ban Chứng khoán và Đầu tư Úc (ASIC). Để nói rõ hơn cho các bạn hiểu tại sao nó lại trở thành ưu điểm đầu tiền của Mitrade.
Tổ chức ASIC (Australian Securities & Investments Commission) là 1 trong những tổ chức hàng đầu thế giới bên cạnh các tổ chức FCA ( Vương quốc Anh), BaFin( Đức) hay CySEC ( Cộng hòa Síp). ASIC là 1 cơ quan chính phủ độc lập được thành lập để quản lý Đạo luật Ủy ban Đầu tư và Chứng khoán Úc.
ASIC mang lại cho người dùng những gì?
- ASIC cung cấp khoản đền bù trong trường hợp sàn giao dịch phá sản.
- Đảm bảo những điều khoản mà sàn đã hứa với khách hàng.
- Hỗ trợ các nhà giao dịch có tiền bị mắc kẹt ở các công ty phá sản.
- Có những quy đinh cụ thể để các nhà môi giới tuân thủ nhằm tránh lừa đảo khách hàng.
  1. Nạp và rút tiền nhanh.
Đây là điều mà tất cả các nhà đầu tư tại Việt Nam quan tâm. Mình đã thực nghiệm và nó rất nhanh, tốc độ xử lí tương đương với các chuyển khoản banking thông thường.
*Nạp tiền
- Số tiền nạp tối thiểu là 20 đôla
- Chỉ chấp nhận tiền gửi từ thẻ ngân hàng của bạn. Tiền gửi từ thẻ ngân hàng của bên thứ 3 sẽ bị từ chối.
- Không tính phí nếu gửi qua ATM
Cách nạp tiền

https://preview.redd.it/qo81jat2jwb41.png?width=1006&format=png&auto=webp&s=395cf7b0f6937aa193cb2e1555326c8a097199c9
*Rút tiền
- Rút tiền hoàn thành sau 2-5 ngày làm việc. Nhưng thường là 3 ngày.
- Mỗi lần chỉ có thể xử lý 1 yêu cầu rút tiền.
- Bạn không thể gửi tiền nếu yêu cầu rút tiền của bạn chưa được hoàn thành .
Cách rút tiền

https://preview.redd.it/x5a1juu4jwb41.png?width=1002&format=png&auto=webp&s=557c2283ad50bf9d6c43b12003b63ca626ee9101
  1. Có nhiều công cụ chống rủi ro, bảo vị chống số dư âm.
Để đảm bảo số tiền của bạn không bị người khác tự ý rút, hệ thống Mitrade sẽ yêu cầu bạn cung cấp 1 số thông tin liên quan đến số tài khoản ngân hàng mà bạ rút tiền như: CMND, thẻ ATM và bảng sao kê ngân hàng 6 tháng gần nhất.
  1. Mitrade cung cấp miễn phí các công cụ như: Lệnh chốt lời/Lệnh dừng lỗ. Lệnh cắt lỗ dưới.

https://preview.redd.it/jt2o72x6jwb41.jpg?width=366&format=pjpg&auto=webp&s=afc2a22f13567836ecdd07ce881ef09a7960ad02
  1. Không lấy hoa hồng, chi phí chênh lệch được cam kết thấp nhất.
- Mitrade không thu khoản phí nào khi khách hàng nộp tiền hay rút tiền khỏi tài khoản. Khách hàng chỉ phải chịu phí từ bên thứ 3 đối với các khoản rút tiền, ví dụ như ngân hàng trung gian…
- Phí chênh lệch được tính bằng mức giá chênh lệch lúc mua (ask) và lúc bán (bid). Phí chênh lệch bạn phải trả có thể phụ thuộc vào biến động thị trường và việc ghép cặp tiền tệ được giao dịch. Với Mitrade phí Spread luôn ở mức thấp.
  1. Mitrade cung cấp đa dạng đòn bẩy từ 1:5 đến 1:200
Cung cấp đòn bẩy lên tới 1:200 tức là với số tiền 10 đôla bạn có thể mở giao dịch lên tới 2.000 đôla.
Điều đó cũng đồng nghĩa với việc số tiền bạn mất cũng phóng đại lên khi giao dịch thất bại.

https://preview.redd.it/b6ml5tt9jwb41.jpg?width=750&format=pjpg&auto=webp&s=dc6baa9d8eb5b8a8c58a2cd17c18a73849267345
  1. Nền tảng giao diện bắt mắt, dễ sử dụng.
- Mitrade có 2 nền tảng trên Web và Smart Phone. Cả 2 đều được thiết kế rất dễ sử dụng, thân thiện. Mitrade sử dụng nền tảng giao dịch độc quyền và tích hợp hầu hết các thiết bị máy tính bàn, laptop, máy tính bảng, Smart Phone và cả các nên tảng Mac, IOS, Androin.
https://preview.redd.it/xh5au3tdjwb41.jpg?width=1255&format=pjpg&auto=webp&s=73558cb38a53f20cf07b67163a0832f83b1c3f59
- Hỗ trợ trực tuyến trên web và di động. Bạn có thể gửi tin nhắn trực tiếp hoặc gửi Email hỗ trợ.
- Biểu đồ, lịch kinh tế và tin tức được cập nhật liên tục.

https://preview.redd.it/azjje3sfjwb41.jpg?width=1371&format=pjpg&auto=webp&s=39b4c438787c666bd92f3395d735ba3919c2a8b2
  1. Tiền của bạn sẽ được giữ trong 1 tài khoản ủy thác riêng biệt khi có yêu cầu từ luật pháp Úc.
*Nhược điểm của Mitrade:
  1. Mitrade chỉ cung cấp 5 loại coin chính trên thị trường tiền điện tử
  2. Không hỗ trợ nền tảng MT4/MT5.
  3. Vì mới vào thị trường Việt Nam nên Mitrade còn một số chỗ nhỏ chưa được cập nhật tiếng Việt như mục tin tức.
4. Tài khoản giao dịch.
Mitrade cung cấp cho người dùng 2 loại tài khoản đó là tài khoản Demo và tài khoản Thật.
*Tài khoản Demo
- Được cung cấp 50.000 đôla ảo
- Khám phá gần 100 thị trường: Ngoại hối, tiền điện tử, chỉ số chứng khoán, hàng hóa…
- Được trải nghiệm sức mạnh của đòn bẩy 1:200.
- Được thực hành giao dịch hoặc phát trực tiếp với Demo Live.
- Khi số tiền âm sẽ được cấp lại miễn phí .
- Thời gian sử dụng lên đến 90 ngày

https://preview.redd.it/cjk5yygijwb41.jpg?width=400&format=pjpg&auto=webp&s=78566000cb135b558067ed5c41e34d4645a01ca2
Có thể thấy Mitrade đang tạo cho người dùng 1 sân chơi khác, giúp những người mới chơi có thể làm quen dần với giao dịch ngoại hối và giúp những người cũ có chỗ để rèn luyện thêm kỹ năng giao dịch.
*Tài khoản thật
Việc đăng kí tài khoản thật với Mitrde được thực hiện rất kỹ lưỡng. Nhằm mang đến sự trung thực và tránh tổn thất không đáng có cho người sử dụng.
Khi đăng ký tài khoản thật người dùng phải cung cấp các thông tin cá nhân, hình ảnh chụp từ CMND, số điện thoại cá nhân và email đăng kí.
Với tài khoản thật khi bạn nạp tiền lần đầu tiên sẽ có nhiều ưu đãi hấp dẫn.
Thông tin tài khoản thật được nhà Mitrade bảo mật tuyệt đối theo Nguyên tắc Bảo mật của Úc.

https://preview.redd.it/vhdx0u2ljwb41.jpg?width=750&format=pjpg&auto=webp&s=175785ed4264a74f6fcfb3c449a3ca6f4f9932a7
Các sản phẩm trên Mitrade
1: Ngoại hối: 60 cặp ngoại hối phổ biến trên thế giới
  1. Chỉ số chứng khoán: 11 chỉ số chứng khoản tiêu biểu nhất
  2. Hàng hóa: 9 loại hàng hàng phổ biến nhất gồm: Vàng, bạc, bạch kim, Dầu WTI, Kim loại quý hiếm Palladi, Dầu Brent.
  3. Tiền điện tử: Gồm 5 loại tiền đang “hot” nhất trên thị trường tiền điện tử: Bitcoin, BitocinCash, LiteCoin, Ethereum, Ripple XRP.
submitted by Buithanhthu to CryptoTradingFloor [link] [comments]

An in depth look into Sparkster and why I believe it is in a league of its own

Introduction
Today I am writing about a project I truly believe in. I am on the same page with Ian Balina when I state that I see this project is an all-star ICO. This is not your average run-of-the-mill vapour ware ICO with No MVP. This is a working platform with a great team behind it. You can find AMA’s on YouTube(Link 1)with live demonstrations of their TPS progress to date and you can also try out their platform for yourself on their website, these are linked at the end of the article for your convenience. Also, they have a pretty good bounty programme running at the moment which I shall link also(Link 2).
Please don’t consider this investment advice, I hope you will read this article and consider it a starting point for your own research. At the time of writing the market has taken another nasty dip, however this is the time when smart investments need to be made, And I truly fell this is one of them. I would also like any of you who enjoy this article to please upvote it and check out my previous work and stay tuned for more.
I will be diving deep into this whitepaper (Link 3) today and basing my article off videos and my personal experience on their platform. All this information can be found within their website and whitepaper. As such I imagine this is going to be a long article.
So, to begin Sparkster is essentially a decentralised cloud platform that will allow anybody to build software in plain English via simple drag and drop function. In their whitepaper they confess that this was inspired by MIT scratch. In today’s world programmers work in various kinds of code languages, these all require training in different types of languages. For example solidity is one of the most popular used today which “is a contract-oriented programming language for writing smart contracts” (Wikipedia, 2018). This is currently used on many blockchain platforms, it was developed by Ethereum’s project solidity team for use on the Ethereum virtual machine and is the most popular language used at present.
Sparkster aims to provide a platform which will allow smart contracts to run at 10 million TPS per second, which would make it the fastest decentralised cloud software in the world.
Concept development
In their whitepaper they suggest this project was conceived after spending 14 years working with software engineers designing and building ERP software for a start-up. Sparkster was born from the frustration of this process and after 6 years of R&D they have the working product we see today. This is an enterprise ready platform. They also claim they have already signed deals with large tech companies (ARM & Libelium).
They also talk about how the entry is trying to make things more practical but it is not far enough. Sparkster are the market leaders here as they are targeting an audience of 99% non-software developers and allowing them to build software. Interestingly in 2018 at the mobile world congress they presented the use of this platform using AI facial recognition to detect a cleaner in a house and opening a door lock, I seen this on YouTube video, which I will link below(Link 4). This is a team which have proved they have a working product.
Claims/ Vision
  1. In their whitepaper they claim they want to become the world’s first platform where people can build their own visions into reality and create financial independence for themselves and contribute to society.
  2. Sparkster will tear apart the barrier to entry to software creation. Their drag and drop functionality on the platform allows this. Up until yesterday I had no clue how a smart contract worked at the basic level, now I consider myself an expert software developer- Who would have thought I could throw away my old life and upskill over 24 hours? Ha.
  3. What I also love about this project is that it will empower people to bring their own ideas to the table and be able to sell them, thus creating financial independence.
  4. The Sparkster, (2018) website(Link 5)suggests they will further disrupt the 200 billion cloud computing industry and combat the extortionate prices large centralised cloud provides like AWS, Microsoft, Google and IBM charge.
  5. This is a finished product guys, please try it yourself if you don’t believe me.
Problem today
As per Sparkster, (2018) claim the biggest problem faced today is that organisations and individuals who wish to implement AI, IOT and smart contract technology have limitations placed on them. Most notably being that their own IT departments are adapting too slowly and there is a serious lack of experienced personnel in these areas. When I watched the AMA that Sajjad Daya (CEO) did with IAN Balina, he described that it is hard to interpret what you want to a developer and get the result you require; the end result then often does not meet your expectations. This of course leads to time wasting as it requires much back and forth correspondence. He stated that this can be months down the line (Something I have experienced in my own organisation). This traditional “software development lifecycle” is truly a slow and painful process, just as they claim in their whitepaper. Also, when changes need to be made to the software down the line it is very expensive.
Further-more the team claim that most business software used today (SAP, Oracle, Microsoft etc… is in-capable of interfacing with the technologies of the future (IOT, AI, Smart contracts). The Sparkster whitepaper further goes on to suggest that the talent is just not there in the industry today to face this challenge either and much up-skilling is required. The team believe that the high capital cost and time periods to replicate vision onto software in the traditional manner is the biggest problem facing enterprises today as it curbs innovation. I concur with this sentiment.
How they will achieve/solve this
According to their whitepaper, this platform is the solution to all of the above problems. It is a Platform which targets the new era of AI, IOT and smart contracts and all tailored to non-developesoftware experts “making is accessible to the 99% who do not know how to code and don’t want to learn” (Sparkster, 2018).
They will create this platform by targeting users of cell phones, notebooks, laptops and other personal devices- who in essence will all become miners on the network. This will then in turn provide users with Spark tokens as a reward for contributing spare capacity. Using these devices is far cheaper than todays centralised systems according to the team. They further proclaim in their whitepaper this lower cost will arise from using inexpensive nodes and as this scales the cost goes down; compared to traditional cloud computing which remains constant. Companies will provide the value via paying for the software creation.
Fees
To scale the platform, they will make personal use free, but limited to a certain number of transactions per month. This restriction can be lifted by referring others. The commercial use will be via ongoing fees (licences, transaction fees, storage fees etc...). The team also describe how the platform and cloud are complimentary, which will allow users to build software 100x faster and cheaper than traditional means, so this will be a very popular mass blockchain adoption platform in my view.
Their plan for growth
A marketplace will essentially become available when users sell their software creations via peer to peer transactions. So, value really depends on how users use the platform. Also, users lending their free memory (CPU) on phones etc… will be awarded spark tokens. These can all be used to negate the fees paid.
According to their whitepaper they will also focus on strategic partnership. As mentioned above they have already partnerships with ARM (World’s largest computer chip designer) and Libellium (Industrial sensor and gateway distributor). They also plan to target vertical markets, specifically IOT and smart contracts as growth is forecast to be huge in both. I personally see the use of smart contracts in society as the single biggest use case of blockchain in the future.
Platform
What is amazing about this platform is that you can actually try it for yourself on their website. I conducted the 6 walkarounds myself and was very impressed by what I experienced. I have never attempted to try create anything with software, but the process was made so simple by Sparkster. You can literally drag and drop different interfaces together and define the behaviour of each block. It’s a very simple and intuitive approach to building smart contracts. As described by Sparkster, (2018) whitepaper you just snap together blocks that describe the “what” you want without worry about “how” it works, they even attribute it to building with Lego. The walkthroughs bring you through how to create a simple calculator and by the 6th lesson you have developed a complex insurance smart contract from which premiums can be calculated and payments automatically made.
Sparkster claim that this will make the creation of smart contracts 100 times faster and cheaper than traditional software development, a claim which I am starting to believe after experience their walkthrough. This is a rare project which already has a working platform- Why wouldn’t you be impressed?
Most ICO’s today are nothing but vapourware, who look for you money and don’t even have minimum viable projects to offer. I would advise you all to look at their AMA’s on YouTube and partake in their walkthroughs and you will see for yourself.
A more detailed look into their platform
According to Sparkster, (2018) their smart software is made up of:
  1. Flows- The definition of the software, made up of all core components of the platform.
  2. Functions- Single building blocks that perform units of work which can be plugged together to build processes (e.g. an insurance policy as seen in their walkthrough video). The have a well-defined user interface also.
  3. Documents- Basic data storage entities on the platform, they differ from functions as they are there to retrieve, persist, update and delete data. Sparkster say that they are there to represent an entity in the real world e.g. a user’s car insurance policy. Furthermore, storage nodes on the cloud will be rewarded for this storage and retrieval of data.
  4. Integrations- This is the interface to the outside world. Sparkster say they provide a simple abstraction to a 3rd party API or webservices. What I like about this is that somebody can create this (e.g. shipping quotation) and allow others to use after its created via the market place. Sparkster aim to allow people to do this without worrying how it all works.
  5. Devices- These replicate devices in the real world comprising of commands and fields (Bidirectional data transfer). In their whitepaper they use an example of a temperature probe in a greenhouse where the temperature feeds back to the action field. It is very complex stuff.
  6. Gateways- these represent a group of devices connected to one gateway. Sparkster say these are all connected to the internet allowing the platform interact with them all individually or as a group.
  7. Smart Contracts- This is the element I found most fascinating during the Sparkster walkthrough videos. This allows you to create smart contracts to allow transactions on the platform. Currently they are using Ethereum smart contracts and Iota smart transactions. I found the whole process so easy. They further state that all the above components can interact with the smart contracts, which was proven to me in the walkarounds.
Their claim of 10 million TPS
From what I can understand from their whitepaper and from an AMA with their CEO this will be a step by step approach to 10 million tps, admittedly a few years down the line but they already proved their platform works and is running at over 50k TPS with 50 cells. They don’t seem to have hit any scalability issues just yet. And I should not need to remind you that 50k TPS is much more than other blockchains products out there.
In their whitepaper they tell us that this is designed to be a specialised blockchain for the use of “smart software”, What is important to understand is that they can reach higher TPS because they don’t have to “act” like other blockchains, in that most of their clients will want to keep data private which “eliminates the necessity of maintaining global state” (Sparkster, 2018). This in turns allows them to shard their distributed hash tables into client groups, where “one shard never needs to have any awareness of another other shard” (Sparkster, 2018). They will essentially isolate cells from one another in order to scale to this level. They give a great example in their whitepaper where if a company like Air BNB want to put customer data into cells (usernames broke into separate letters per cell), where millions of customers make up their base.
Overall their theory is that there is technically no limit to the number of TPS they can achieve, this is just a target number. I have full confidence they can pull it off, what other blockchain is proving this live on air like this team is?
Decentralised cloud
Sparkster, (2018) website describes how traditional cloud providers such as Amazon, Microsoft and Google have huge costs, relating to server costs, backup power, staff, security and cooling. Decentralised cloud computing will be the death of these organisations. For instance, Sparkster claim that by executing small software components on one’s mobile phone these costs fall near to zero, they envisage a world where a lot of these miners will join the decentralised cloud and make reduce the costs further.
Their cloud will facilitate the execution of smart software created on the platform. Their whitepaper further suggests that one can simply download the Sparkster mining app on their phones which will provide user generated smart software environment (SRE). Companies will stake bids on the exchange for their software to run in a decentralised fashion and stake Spark tokens (Amount willing to pay). The team are envisaging this as a free market where bidders can stake as much as they like and miners ask for anything they like. Payment is made to the miners via these tokens.
They further say computer and storage nodes can join the network and be paid in Spark tokens, but they are required to stake tokens themselves as collateral to ensure they operate honestly. Sparkster will have verification nodes to validate transactions from computer and storage nodes and if any “bad behaviour” is found then they take these staked tokens in the form of a “bounty”. In my opinion this will make it a very secure platform
Sparkster Technology Stack
The below image from their whitepaper shows the levels “smart software” goes through to facilitate decentralised cloud computing.
https://preview.redd.it/4qnqlgowyf311.png?width=357&format=png&auto=webp&s=fa68bc369d37c14073dcbd4869518f3b1485c057
Source: Sparkster, (2018)
Throughput
What is very interesting is the high throughput they can sustain with such a high TPS. If you know anything about blockchain you will understand this is a challenge for every blockchain, the more users to a platform the more scaling is required. For instance, in the bull run in December I remember how slow the Ethereum blockchain became, this was also attributed to the increase in ICOs and DApps launching on the platform.
Sparkster claim their cloud is capable of “scaling linearly without any overhead curtailing its meteoric performance” (Sparkster, 2018). They can achieve this by isolating cells within the chain. They further claim that the whole Idea is to “isolate” chains, essentially creating independent blockchains which have their own hash tables and never synchronize with each other- they describe this like a human cell, which once splits never shares anything with another cell. It is a very simple concept, user’s data is stored in a specific cell, so why would another unrelated company using the Sparkster platform need to know about of access the information in the 1st cell. Each “cell” is capable of 1000tps and because they each have their own hash table this results in 2k tps and so on and so forth.
Essentially data is streamed in parallel but synching is never needed. This is huge- this is a platform which unlike any other blockchain is designed for mainstream adoption. Any company can use it and store data and be sure of a high throughput. As mentioned above they are already at 50k TPS- which is far better than most blockchains today. This is a true working product and I can see this getting to 10 million.
Consensus
Time for a quick history lesson, bitcoin uses proof of work and Ethereum use proof of stake. These are two most common consensuses used today by blockchains. Bitcoin relies on the party with the highest hashing power whereas Ethereum on the party with the highest amount of money. This team has chosen to implement the Steller Consensus Protocol (SCP), because it is better.
Sparkster describe this as a commercial version of the Federate Byzantine Agreement System (FBAS) (1000tps per second). They will also implement a layer for incentives to keep parties honest and minimise risk of attack as SCP does not have this. This will be done by awarding of Spark tokens to computer (donate CPU memory on device) and storage nodes (contribute storage space and network bandwidth). Clients of the platform will be covering these incentives. The team believe this extra layer is required to ensure the platform surpasses traditional cloud platforms and I tend to agree with them.
Their whitepaper further suggests that a proof of work consensus will be used to calculate these incentives. This will allow misbehaviour to be detected and stakes taken from them by verification nodes. Page 35-39 of the whitepaper goes into detail how these are all calculated, which is linked below for your interest.
Consistent hashing
As they don’t use global state this algorithm allows the platform to “hash the clients ID and extract a bounded number” (Sparkster, 2018). This will identify a particular client within a cell.
Privacy
One of the biggest fears of any data platform is privacy protection. The Sparkster team say that their cloud deconstructs data into fragments, encrypts them and disseminates them across the network of nodes. This is particularly important now with the EU’s general Data Protection Regulation (GDPR), as discussed in their whitepaper. So, any hack to the platform will wield meaningless returns. They also claim they use “zk-SNARKs… a zero-knowledge proof to ensure that client data is obfuscated, even from other network participants” (Sparkster, 2018).
Security
They also claim they can detect software intrusions such as tampering with the code, memory or thread. Once their system detects this all client data is automatically deleted from the memory along with the access keys to the Sparkster network, as claimed on their website.
In their whitepaper they also claim that any software built on the platform is “entirely bug free”. This is true because even though you as the users dictate the logic, the actually underlying code is very uniform and consistent.
Their app will also use public/ private keys and digital signatures and check sums will be used to detect file tampering. In their whitepaper they also state that cache data won’t be stored, all data will be encrypted, all communication is SSL/TLS and they will employ 3rd parties to detect malicious payloads in the memory.
Multi chain interoperability
Sparkster can already be used with both Ethereum and Iota, with plans to increase this down the line. This is all to cater for preferences of the user. This is a very transparent platform and tailored around usability and ease.
https://preview.redd.it/c23z7yl2zf311.png?width=451&format=png&auto=webp&s=81c05aeb65a528dd482fc97c4803cb2712b40fd7
Source: (Sparkster, 2018)
Token economics
Stats
Value
The value model proposed by their whitepaper suggests that the global marketplace will be the value driver of the platform. So, people can create and sell content on an open peer-peer market, with the value flowing though the Spark token. Small platform fees will be charged on transactions on the platform (Not on free contributions).
It is a utility tokens because its purpose is to facilitate payments, it will also be the only currency accepted on the platform. Once the decentralised cloud is released in Q4 2018, miners will be able to earn Spark tokens.
I believe this will be a market leader when it comes to mass adoption of blockchain, this is truly a one model fits all platform and it is with growth of the platform which will drive the value of the tokens up. Also, the Spark token is essential to the cloud functionality as miners need to stake tokens to ensure good behaviour, if the opposite occur verification nodes claim these takes, this makes the tokens essential to the smooth running of the platform.
Breakdown of token distribution
Use of funds:
Team
In my view the team has a huge wealth of experience within it. This consists of:
2 all-star advisors
4 on the leadership team
17 further team members (Sparkster Warriors)
· These team members range from software engineers, developers, designers, project team leaders, programmers and digital marketers.
· There is so much experience in this team it would take all day to write about them, but a wide encompassing team like this shows they are serious about what they doing.
Conclusion
This is a not to be missed ICO. I really feel like this is one of the all star ICO’s this year. There is nothing more that really needs to be said, I would just advise you that if you are considering this project then go to their website and test the platform for yourself. It is the walkthroughs that sold me on this project and one which I will be investing in.
Additional reading (Links)
Link 1- AMA with Ian Balina (All-star ICO): https://www.youtube.com/watch?v=_K9j_EGHbpc
Link 2- Sparkster bounty programme: http://sparkster.me/try?r=DU2VUW45
Link 3- Sparkster whitepaper: https://drive.google.com/file/d/1_341kbDEDc9PWn4lbsCGpAmcqDqcggUq/view
Link 4: Sparkster founder &Ceo speaking at MWC 2018: https://www.youtube.com/watch?v=X-Jf9_fcxYo
Link 5: Sparkster website: https://sparkster.me/
References
· En.wikipedia.org. (2018). Solidity. [online] Available at: https://en.wikipedia.org/wiki/Solidity [Accessed 11 Jun. 2018].
· Sparkster (2018). Build and Run Decentralized Software in Plain English. [ebook] Sparkster whitepaper, pp.1-57. Available at: https://drive.google.com/file/d/1_341kbDEDc9PWn4lbsCGpAmcqDqcggUq/view [Accessed 11 Jun.
· Sparkster.me. (2018). Sparkster – Build Apps, Write No Code. [online] Available at: https://sparkster.me/ [Accessed 11 Jun. 2018].018].
submitted by Mick2018 to Sparkster [link] [comments]

Why bitcoin won't be able to rally this time.

It's the miner subsidy stupid.
99% of new hashrate added to the network came in 2014. The average price in 2014 was most likely somewhere between $400-600.
That's right. Nearly the entire bitcoin network was built in 2014.
https://blockchain.info/charts/hash-rate?timespan=2year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=
Because of this, the break even point for most miners is quite high. This means every rally will be sold into, this pattern has been going on for months already and there is no reason for it to stop.
The cost to run the network increases with a rising price.
Volatility is explained by this diagram.
https://en.wikipedia.org/wiki/File:StockFlow.gif
The stock of capital is the available fiat BIDS floating around on exchanges. This is depleted whenever miners exit to cover their fiat denominated expenses. Miners MUST convert to fiat because all of their expenses require final settlement in fiat. When there is a rapid depletion of the fiat liquidity you get widening bid-ask spreads and hence insane volatility.
Because of the fixed miner subsidy the amount of fiat required to maintain and set new highs increases rapidly. This makes log charts completely useless. Going from $1-30 required a lot less liquidity then 30-900, despite the same percentage increase.
submitted by BitKon to Buttcoin [link] [comments]

High Frequency Trading in Bitcoin Exchanges

High Frequency Trading in Bitcoin Exchanges
Introduction
In this post I analyze the presence and activity of high frequency trading in a Bitcoin exchange. Since to date this markets are extremely unregulated, such behaviour takes places with little to no constraint. I show how over 99% of orders placed are not meant to be filled, but instead to distort the perception of the market. In addition, I try to spot common HFT strategies, such as Quote Spoofing, Layering and Momentum ignition. Given the anonymous nature of these exchanges these last results are to some extent subjective. (FMZ.COM)
What is High Frequency Trading?
From Wikipedia [1], High-frequency trading (HFT) is a type of algorithmic trading characterized by high speeds, high turnover rates, and high order-to-trade ratios that leverages high-frequency financial data and electronic trading tools.
Methodology
This analysis has been carried out with order data from the Websocket stream from GDAX, a US based digital asset exchange [2] owned by Coinbase. It is one of the largest markets (over 42 MM USD/day) [3] and it exposes a high performance socket where all orders are broadcasted. In addition, it offers some interesting features for data analysis:
Orders are timestamped (as opposed to Bitfinex, for example)
It has millisecond granularity (again, as opposed to Bitfinex) (FMZ.COM)
It says whether an order has been matched or cancelled -one could argue that disappearing orders far from the bid/ask spread must have been cancelled (and it's true), but for orders inside the spread, this information is necessary.
While data has been captured for several days (at the time of this post I'm still capturing data), for the following analysis only data from July 21, 2017 has been taken. Mind you, there are still over 2 Million datapoints. (FMZ.COM)
Since the GDAX feed does not explicitly keep information of the current best bid/ask, a little preprocessing is needed. The best bid is the highest price for currently open BUY orders, while the best ask is the lowest price for open SELL orders. Although this calculation is not complicated nor particularly slow, it's better to explicitly append the current best bid/ask as additional columns. No further preprocessing has been carried out.
Related work
While writing this article, I came across a blog post from Philip Stubbings at Parasec [4], who made a similar analysis in 2014. While the amount of data differs by orders of magnitude, the findings are the same, especially concerning flashing orders. Quoting from his site:
I collected order book event data from the Bitstamp exchange over a 4 month period, between July and October (2014), resulting in a dataset of ~33 million individual events; A minuscule dataset in comparison to the throughput on "conventional" exchanges, see (Nanex: High Frequency Quote Spam) for example. (FMZ.COM)
While the event dataset consists of ~33 million events, these events can be broken down into individual orders and their types. In total, of the identifiable order types, there were 14,619,019 individual "flashed orders" (orders added and later deleted without being hit) representing 93% of all order book activity, 707,113 "resting orders" (orders added and not deleted unless hit) and 455,825 "marketable orders" (orders that crossed the book resulting in 1 or more reported trades).
As we'll soon see in this report, I recorded 2,169,450 events in less than one day. That means, the number of events per unit of time is 8 times bigger than in 2014. Flash orders are still a majority, representing over 99% of all order book activity.

www.fmz.com

www.fmz.com

www.fmz.com
HTF Strategies (FMZ.COM)
The Bocconi Students Investment Club (BSIC) [5] describes some strategies which the HFT traders use to distort the perception of the market. For this post I'll focus on Spoofing, Layering and Momentum Ignition.
Spoofing & Layering
Quoting from BSIC [5]:
Spoofing is a strategy whereby one places limit orders, and removes them before they are executed. By spoofing limit orders, perpetrators hope to distort other trader’s perceptions of market demand and supply. As an example, a large bid limit order could be placed with the intention of being canceled before it is executed. The spoofer would then seek to benefit from prices rising as the result of false optimism others would see in the market structure.
Detection
There is evidence of high frequency spoofing on July 21, 2017 between 09:45:52 and 09:45:56. Let's take a look at the order book. Red points are SELL orders (3 BTC @ $2741.99), vertical grey lines are cancellations and the blue and green lines are bid and ask price, respectively. (FMZ.COM)
www.fmz.com
One interesting thing is that neither the bid or ask price moves.
Also from [5]:
More controversial has been the act of layering which carries many similarities to outright spoofing, but differs in that orders are placed evenly across prices with the goal of reserving an early execution priority at each given price level. If the person has no trade to execute at that price point the orders are simply removed. Despite being more benign in nature, the act of layering also distorts market demand and supply perception. (FMZ.COM)
It seems to be evidence of layering. Let's take a closer look at the minute between July 21, 2017 between 09:41:00 and 9:42:00. Orders seem to push the ASK level downwards, eventually decreasing the BID price. Next, BUY orders are placed at this lowered level, to be sold when the BID price recovers.
www.fmz.com
Momentum ignition
Still quoting [5]
Momentum ignition is a strategy in which a trader aims to cause a sharp movement in the price of a stock by using a series of trades, which indicate patterns for high frequency traders, with the motive of attracting other algorithm traders to also trade that stock. The instigator of the whole process knows that after the somewhat “artificially created” rapid price movement, the price reverts to normal and thus the trader profits by taking a position early on and eventually trading out before it fizzles out. (FMZ.COM)
To detect momentum ignition, it is important to focus on the following three main characteristics as shown in the chart below:
Stable prices and a spike in volume
A large price movement compared to the intraday volatility
Reversion to the starting price under a lower volume
The following picture from zerohedge and Credit Suisse AES Analysis illustrates this behavior. (FMZ.COM)
www.fmz.com
Conclusion (FMZ.COM)
According to an interview carried out by The Atlantic [6] to Michael Kearns of the University of Pennsylvania and Andrew Lo at MIT, this behaviour also happens in traditional trading, and its causes are still matter of dispute. Relevant extract:
[...] why would a firm engage in this behavior? Lo and Kearns offered a few theories of their own about what could be happening.
To be honest, we can't come up with a good reason," Kearns said. What's particularly difficult to explain is how diverse and prevalent the patterns are. If algorithmic traders are simply testing new bots out -- which isn't a bad explanation -- it doesn't seem plausible that they'd do it so often. Alternatively, one could imagine the patterns are generated by some set of systemic information processing mistakes, but then it might be difficult to explain the variety of the patterns.
"It's possible that the observed patterns are not malicious, in error, or for testing, but for information-gathering," Kearns observed. "One could easily imagine a HFT shop wanting to regularly examine (e.g.) the latency they experienced from the different exchanges under different conditions, including conditions involving high order volume, rapid changes in prices and volumes, etc. And one might want such information not just when getting started, but on a regular basis, since latency and other exchange properties might well be expected to change over time, exhibit seasonality of various kind, etc. The super-HFT groups might even make co-location decisions based on such benchmarks." (FMZ.COM)
References
[1]https://en.wikipedia.org/wiki/Bitfinex
[2] https://www.gdax.com/
[3] Source: https://coinmarketcap.com
[4] http://parasec.net/blog/order-book-visualisation/
[5] http://www.bsic.it/marketmanipulation/
[6] https://www.theatlantic.com/technology/archive/2010/08/explaining-bizarre-robot-stock-trader-behavio61028/
[7] https://docs.gdax.com/
submitted by Ruby-Yao to Bitcoin [link] [comments]

Coin-a-Year: Nyancoin

Hello cryptocurrency lovers! Welcome to Coin-a-Year, the laziest series yet in the Coin-a-Day publishing empire. This year's coin is Nyancoin (NYAN). I originally covered Nyancoin in an article here in /cryptocurrency published January 4th, 2015.
Without (much) further ado, I'm going to include the original report next, unmodified. This is unlike my Coin-a-Week series, where I use strikeout and update in-text. Because this is going to be a longer update, I'll just make all further comments and updates below, just realize that all information below is as of January 4th, 2015 and thus is more than a year out of date as of posting now, at the end of February 2016.
Since I use horizontal rules as internal dividers in the original post, I'll use a double horizontal rule to divide the original text from this prelude and the following update.
Coin-a-Day Jan 4th
Welcome to the fourth installment of Coin-a-Day! To see convenient links to the introduction and the previous entries, please see /coinaday. Today's coin is Nyancoin (NYAN).
Summary
• ~173.6 million available currently [1]; 337 million limit [2]
• All-time high: ~0.000024 BTC on February 16, 2014 [1]
• Current price: ~3 satoshi [1]
• Current market cap: ~$1,275 [1]
• Block rate (average): 1 minute [1] [3]
• Transaction rate: ~25? / last 24 hours; estimated $3-4 [4]
• Transaction limit: 70 / second [5]
• Transaction cost: 0 for most transactions [6]
• Rich list: ??? [7]
• Exchanges: Cryptsy [8]
• Processing method: Mining [10]
• Distribution method: proof-of-work block rewards and 1% premine for "bounties, giveaways & dev support" [2] [10]
• Community: Comatose [9]
• Code/development: https://github.com/nyancoin-release/nyancoin ; there hasn't been a released code change in 10 months. The new developer has talked about some changes, but has not made a new release. He has given advice about how to keep the network running and operate the client. [10]
• Innovation or special feature: First officially licensed cryptocurrency (from Nyancat) [2]; "zombie"-coin [11]
Description / Community:
So you're probably wondering why in the world we're talking about a coin which has been declared dead and already written off. I actually first selected this coin to illustrate a "deadcoin", but the more I dug into it, the more I was amazed at the shambles I discovered. I am combining the description and community sections for this coin, because the community (or lack thereof) is the central issue for Nyancoin.
Substantially all, if not literally all, of the original infrastructure is gone. From the announcement post, the original website has expired. The nyan.cat site itself survives, but has no reference to the coin. The github repo remains, but then there was never much changed from the bitcoin/litecoin original. In fact, the COPYING file doesn't even list "Nyancoin Developers". None of the original nodes seem to be running anymore. @Nyan_Coin hasn't tweeted since July 6th. And that was just to announce posting an admittedly cute picture to facebook which makes a claim for a future which seems never to have developed. Of the original 15 pools, I think all are dead except p2pool, for which at least one node still supports NYAN. The original blockchain explorer, nyancha.in, is still running. The faucet is dead or broken. The original exchanges no longer list it (two of the three having died; SwissCEX having ended its trading as of the first of this year). And so forth.
And yet:

I'm not dead! I'm getting better!

No you're not, you'll be stone dead in a moment.
[Of course, that scene finishes with knocking out the "recovering" patient so he can be taken away...not to mention the absurdity of including Monty Python in a financial article, but moving right along.]
There is still just enough left to Nyancoin to keep it twitching, even if it is on life-support. Whether it's an individual node or whether it's a pool, there are blocks being produced at a steady rate as intended. Transactions are being processed. There is still a market. There is still a block explorer. And there is a dev. It is like a case study in the absolute minimum necessary to keep a coin alive. The most likely outcome is almost certainly a final collapse when one critical piece or another of the infrastructure goes away. And yet in the meantime, a person can own a million NYAN for $8 [12], and then move this coin quickly and easy, albeit with no particular external demand. It's like the world's most hyped testnet.
I think this case presents an interesting example of what happens to an altcoin when its initial support dries up. NYAN coin is more fortunate than some, actually, as there are some where there are no longer any nodes running it nor the original announcement thread (in fact, there was actually a second Nyancoin launched around the same time. But it died hard and its original announcement thread was deleted and at this point I would have no idea how to access it; so "Nyancoin" thus illustrates how hard a coin can die (Nyancoin 2) as well as how it can hang around despite being proclaimed dead, with far more justification behind that pronouncement than there has been for bitcoin (NYAN) ).
Footnotes
[1] http://coinmarketcap.com/currencies/nyancoin/
[2] https://bitcointalk.org/index.php?topic=402085.0 Regarding the premine, it's unclear to me where this money is now, since the original poster hasn't been active on BCT since May and the original site is down. However, given that it's only 1%, and about $25 in value right now, there seem to be more significant concerns for NYAN.
[3] http://nyancha.in/chain/Nyancoin - Nyan blockchain explorer; blocks are somewhat inconsistent but somewhere around the 1 minute average
[4] There doesn't seem to be anything automatically doing these stats, so I did visual inspection on about 1500 blocks (about one day) excluding the block generation reward (~250k/day). Most blocks are otherwise empty. I counted about 24 transactions or so scrolling through, with an outlier around 300k NYAN and another around 100k NYAN. In total, about 500k NYAN, excluding the block rewards. This is very approximately $3-4.
[5] Nyancoin is a basically unmodified, slightly out-of-date bitcoin as far as code goes, and ignoring the change in block rate and total coin supply, as well as the difficulty retarget after every block. So for purposes of estimating maximum possible transaction throughput, I start with bitcoin's estimated 7 transactions per second, and multiply by 10 for having a block on average every minute rather than every 10 minutes. In any event, this limit is not likely to be reached in the foreseeable future.
[6] Like bitcoin, transaction fees appear to be optional in Nyancoin. Unlike bitcoin, there is almost no transaction volume, and coins tend to sit for a relatively long time before being moved. So zero-fee transactions appear to be the norm from looking at a couple transactions on the block explorer.
[7] I couldn't find one. See the disclosure section of this article: your humble correspondent is likely represented in some way on a top 100 if one were to be made or if one exists, despite not holding it directly, depending on how the exchange holds it.
[8] I could not find any other exchanges still listing Nyancoin. SwissCex appears to have disabled it as of a couple days ago. Cryptsy has a notice that the NYAN/BTC market will be closing, but its NYAN/LTC market appears strong.
[9] Essentially all of the original sites, pools, faucets, etc. are dead and there has been very little to replace it. There is basically a single node, or perhaps a very few, which are running the blockchain. However, there is a developer still trying to hold things together, maxvall_dev, maxvall on BCT. He is the last hope for the NYAN.
[10] https://bitcointalk.org/index.php?topic=597877.0 This is the thread where maxvall took over as dev, and it also discusses switching to PoS, which hasn't happened as far as I know.
[11] "zombie"-coin: Not to be confused with ZMB (my god, does it ever end?). This is my term to describe a coin which is "undead": by rights it should be dead. And yet it's still walking around and acting like it's alive. What is it? What's going on? It's quite debatable whether this gives it any special value, but I find it an interesting state, and it's why this was chosen for early coverage. There are plenty of actually popular and successful coins, and we will go onto covering more normal selections; we're looking for variety rather than repetition. But I think this is an interesting example for what can go wrong, and yet in the midst of that, how little it takes for a coin to survive. In fact, it's almost like an alternate history bitcoin to me; this shows the concept that "it was run on one computer before; it can be run on one computer again" to some extent. And there are even some strange pragmatic benefits as well, like having no competition for getting a transaction into a block and thus zero transaction fees.
[12] And, in fact, the author chose to do so today, spending about 0.03 BTC for about 1 million NYAN.
Additional Reading
/nyancoins - Like NYAN: mostly dead, but not quite
http://nyan-coin.org/ - new official website
BCT thread listing nodes, xpool (p2pool), for mining information.
americanpegasus predicting in February that NYAN will hit $1; always an entertaining read
Giveaway
Instead of a challenge today, since NYAN has enough challenges, I decided I would give away 10,000 NYAN to at least the first ten people who ask for it. This still remains at my discretion, but honestly, if you really want, say, 50,000 NYAN and create four new accounts to do so, I'll probably be too amused to say no. I don't expect to get ten requests. If I get more, I'll probably still fulfill them, but as with everything else, this is left to my whim.
Donations and Disclosure
Okay, this is an important one today because of the tiny market here. I actually hold less USD value in NYAN than in BTC, DOGE, and PPC (although my value in PPC might be about equivalent actually), but I hold more of the total market in NYAN than any of those three. And I'll probably be buying more. So I have a conflict of interest in writing this article.
I am not providing financial advice and I do not make any recommendations of any sort on any matters. Make your own decisions; do your own research. Please, I do not want to hear about anyone doing anything "on my advice." I am not offering advice.
I personally hold just over 1 million NYAN on Cryptsy right now.
Perhaps it would be better if I didn't write any articles about anything I were invested inspeculating on, but I started this series for my own education to further my speculation, so unfortunately, dear reader, your needs come second to my own. tanstaafl; you get what you pay for, and I'm giving you my thoughts.
If by some strange quirk of fate you actually own NYAN and enjoyed this article and wished to donate some to me, K7Ho9HghBF6xWwS6JsepE6RAEPyAXbsQCV is mine (first non-empty account I've posted; transferred 1000 NYAN into here earlier from Cryptsy to test that the network and my wallet were actually working).
Thank you all for reading and commenting! I've already learned a lot from this process and I look forward to more!
Upcoming coins:
• January 5th: Nxt
• January 6th: Darkcoin
• January 7th: Namecoin
I'll use alphabetic labeling for footnotes in the updates to avoid any confusion with the footnotes in the original. For simplicity, unchanged items, like the 337 million limit and the 1 minute will not be mentioned, and we'll start with the summary changes.
Updates:
Summary
  • ~263.7 million NYAN currently exist [a]
  • Current price: ~7 satoshi [b]
  • Current market cap: ~$8,000 [c]
  • Transaction rate: ~185 / last 24 hours; ~3,300,000 NYAN (~$100) [d]
  • Exchanges: Cryptopia [e]
  • Community: We're not quite dead yet; in fact, I think we're getting better! [f]
  • Code/Development: I have an early draft of NYAN2, but I'm about six months past my initial goal for having it available to use. Life/work/lack of build machine/procrastination. NYAN2 will be a rebase onto a modern LTC codebase which will soft fork to fix a current vulnerability to a fork bug. For now, the network still runs on the same code that it did when I wrote the first article.
Discussion
I'm going to consider the community first, since I pointed it out as the weakness and central topic in the last one, then talk about the technical situation briefly, and then review the financial results.
The community has been excellent, if I do say so myself. We've got working infrastructure going thanks to the contributions of many Nekonauts (see [f]). Some original Nekonauts have returned or at least popped in from time to time, and new ones like myself have found Nyancoin (I would say given what I wrote in the original, I was still a skeptic of it at that point. Not that skeptics can't be Nekonauts, but I think I'd put my conversion to the cult of nyan shortly after writing that, even though I was already a nillionaire then for the heck of it.)
While I do look forward to seeing the community continue to grow in future years and consider that important, I don't think the community is our weakest point any longer; I think it's now our strongest point. I've tried to encourage the community's revival as best I could, including giving away tens of nillions in total, and lots of long rambling articles on my views on ethics and philosophy and frankly it's worked better than I would've really expected (or at least it has coincided with an effective recovery of the community). The community also helped me through at least a couple hard times personally in there as well.
The technical situation in Nyancoin is mostly unchanged but slightly improved, although with two additional known vulnerabilities. It's unchanged in that it's the same client. It's improved in that we have an active nyanchain explorer host (nyan.space), and we have a public draft of a plan for a soft forking security fix update in the near future (hopefully by the end of March (although I've slipped these deadlines before and may well miss March for release by a bit, I do think I'm inching closer now and then)).
The most serious vulnerability is to forking. This is the bug which hit Peercoin if I recall correctly. NYAN2 is intended to solve this through its soft fork from the LTC fix upstream (from the BTC fix upstream). In the meantime, we've been lucky we haven't been attacked. The tiny marketcap probably helps with not being a particularly attractive attack target. We're not exactly about to pay ransom to move faucet outputs. But that's no excuse; we want this fixed and should have it finally done "soon" (tm).
The less serious vulnerability is to a time warp attack in the difficulty function (Kimoto Gravity Well), which relates to general weaknesses it has and issues we've had with large gaps in the block chain because of spikes in the difficulty function causing it to be unprofitable and driving away most of the hash, and then low difficulty and price rise making it attractive to more hash, creating a spike and causing it again. While this is irritating, the chain still works, even if there are fits and starts at times. An important part of the reason I can get away with this is because there is at least one Nekonaut-supporting miner, CartmanSPC, who rescues us from time to time, and did so during the course of this article being written. We have a bunch of pools, but sometimes the hash just isn't there to get us unstuck when the difficulty goes high enough. Another part of the reason I consider it not an especially serious issue is because there's a workaround which works for me (classic bad developer logic): I use a large transaction fee (generally 337 NYAN, although I might have halved it after the most recent halving, I'll probably use 337 again) on my personal wallet by default. If necessary, I use a couple of them. It can make NYAN profitable to mine again despite the higher difficulty and "unstick" the chain. The difficulty function can go back down again in the next block if the gap has been long enough, so that can be enough to keep it going again for a while (although it can also get stuck again irritatingly fast at times). A fix for this will be putting in a better difficulty function for NYAN3, which will require a hard fork. This is tentatively scheduled for feature freeze around the middle of this year, coding to follow, activation sometime early 2017.
Financial has been our most disappointing performance. A graph of the 1 year performance right now on coinmarketcap looks pretty sad, showing our fall from a little over 60 satoshi down to around 7 satoshi now.
We rose too high, too fast, and I didn't stick with the safe high paying job like a sane person. Instead I hit the road, went to jail, and worked minimum wage. That doesn't sound like a sentence from a cryptocurrency financial review, does it? But the performance of NYAN since the article has been the story of my personal finances, which is the story of my life since then.
So, autobiographical coinaday interlude, trying to keep it generally to the most salient points. Well, in 2014 I had been on my way home to Minnesota from California when I was pulled over leaving Eureka, Nevada for speeding (got sloppy and went 45 approaching the 45 sign and thus technically still in the 35; bored cop seeing out-of-state plates). My vehicle reeked of weed, what with having been in Mendocino County previously with no intention of traveling out of the county much less state anytime soon but family emergency brought me back, and the end result was a citation for possession of cannabis and paraphernalia along with the speeding.
Fast forward to the beginning of 2015, I'm settled into a good software position and start looking more at cryptocurrency in my spare time. I write the coin-a-day series for a bit and then got annoyed and quit after a while when trying to do one a day on top of an actual job was too much for me (along with some annoyance over criticism; I can be rather thin-skinned at times). But I had gotten interested in Nyancoin, and started buying it up more and more with extra money I was making.
And then comes the crash. I had to stop putting as much in as I realized that where I was living and what I was working on wasn't going to work out for me and I needed to figure something else out. So, as I seem wont to do, I went on a roadtrip. I quit my job. And I went back for the court date for my citations and refused to pay, instead spending 10 days in jail rather than pay ~$1400 (I actually had the money in cash available to me if I chose to pay as a backup if I chickened out, but the judge annoyed me enough that I really preferred to be jailed instead of paying, as stupid as that sounds since I'm quite sure the judge didn't care in the least one way or another).
After that, I went back to roadtrip lifestyle for a while. It was a nice period. A lot of beautiful scenery; a lot of reading. Eventually, I busted up my car pretty badly...a couple times actually, the second time for good. Fast forwarding through the rest of the year, I worked a couple minimum wage jobs to pay bills and avoid cubicle life and kill some time until I figured out what I was going to do next. Just recently I quit as delivery boy after getting a speeding ticket (I swear, I'm not as horrible of a driver as this makes me sounds, although I have had a bad tendency to speed in the past, which I really have curbed to almost nothing; but I'm clearly not good enough) and am currently writing a Coin-a-Year article with a friend's incentive and applying to do documentation and development with the Nu project.
Okay, so what did any of that have to do with NYAN? Well, it's the mess of a life that has led to the fall of the price from 60 satoshi to 7 satoshi. If instead my life history for the time since the article had been simply "I was happily employed writing software", then I don't believe we would have dropped below 20 satoshi. It's easy to see in hindsight. If anyone can lend me a time machine, I'm sure I can get some condensed instructions which should improve performance significantly. Otherwise, just going to have more chalked up for the "character building" tally.
So, lessons learned if you are the major buy support for your coin: you need long-term reserves. Whatever you put in bids can be taken out in a moment by a dump for no apparent reason. This is particularly true if you may be quitting your cushy, high-paying job and wandering around without income for an extended period of time. Rather obvious, but hey, maybe someone else can learn from my mistakes. If I'd been bidding as cautiously as I am now from the beginning, I think the price would probably be somewhere from 10-20 satoshi now instead of around 7 satoshi.
It's especially unfortunate given that I wanted to be able to demonstrate the more consistent growth possible building a stable store of value, as opposed to the pump and dumps common in altcoins. And instead we had a pump-and-dump looking graph ourselves after I bid up higher than I was able to sustain, and a large (10+ nillion) instadump crashed the market all the way back down to 1 satoshi momentarily. We've had a few large (2+ nillion) dumps since, but nothing that large. We haven't generally had that large of bids though either.
It's hard to know when I've exhausted the supply at a price level, when it sometimes waits for a couple weeks or even more and then fills all the bids at once. But I want to maximize the minimum price paid because I think that's important for building confidence in a store of value long-term, which is one of my core goals for NYAN.
At the same time, we're still up from the lowest parts of the floor and where I found it. Since I own about 30% [g], the very cheapest supply has been taken off the market. I plan to keep on buying up "cheap NYAN" as much as I can. I've bought up to 60 satoshi before, I'll probably buy up that high this time around. I've got a token 100,000 NYAN ask at 300 satoshi; I hope never to sell lower.
Conclusions
Now I try to wrap it all together as if I saw this all coming and am the wise expert, despite having had about 90% drop in price in the last year after bidding too high. My original concept was taking the "minimum viable coin" and reviving it to a powerhouse as a textbook example in how to do it.
Part of my core concept in this is the arbitrariness of value: throughout history, humans have chosen any number of things as a store of value for the time: salt, large rocks, certain metals, disks, marked sticks, and so forth. While there has generally been a certain logic in the choice, in that there is a locally restricted supply in one way or another, and so forth, from the perspective of other centuries or cultures the choices can seem quite strange. Growing up, I was always struck by how strange the notion of salt being limited and valuable seemed in a world where people were trying to reduce intake and large amounts could be bought for trivial sums. And yet, a key nutrient necessary for life fundamentally makes more sense as being valuable than notched sticks or printed paper or a piece of plastic with some encoded information.
Humans have perpetually come up with stranger and stranger ways of storing and transferring value. Each new step, as always, comes with its own disadvantages and, frankly, has generally appeared nonsensical at best and fraudulent at worst to the status quo. Which doesn't mean that each new attempt is valuable. The gold bugs always like to point out that every fiat currency ultimately returns to its true value of zero. And the skeptics of cryptocurrency argue that all cryptocurrencies will eventually return to their true value of zero.
It's certainly possible. And it's possible the USD will hyperinflate someday. I tend to try the moderate view for a plausible guess of the future. By that type of logic, I would guess that over the course of decades, USD will in general lose value, and cryptocurrency will tend to slowly gain value. That might not seem the moderate view, but USD not losing value over decades would be truly shocking. And hyperinflation has been predicted since the USD went off the gold standard, or before. So some amount of inflation less than hyperinflation seems like the safe guess (but then, the Titanic arriving would also have seemed like the safe guess to me). And with cryptocurrency, I think it's clear by now the technology will continue to survive. So my first question is with what overall value as a market? It could go down, of course, but that seems unlikely in an already small, young market. Even if all the current crop die off and are replaced, whatever cryptocurrencies are around should be able to do better than a handful of billion in market cap in my view.
I believe that cryptocurrency has a bright future ahead of it. The best coins should ultimately survive and thrive. But I've been wrong on most of my major calls so far, like for instance when I thought BTC was over-priced around $5-$10.
I think Nyancoin can have an important role to play in the future of cryptocurrency in the years and decades to come, but it's a massively speculative long-shot. See also Nyancoin risks document. But like Linus Torvalds' autobiography, I try to keep "Just for Fun" as a core motto and principle. It's makes for a good hobby project because there will always be more to work on, with a core community motto of
TO INFINITY AND BEYOND!
Disclaimers / Sponsorship:
As I said before:
I am not providing financial advice and I do not make any recommendations of any sort on any matters. Make your own decisions; do your own research. Please, I do not want to hear about anyone doing anything "on my advice." I am not offering advice.
And I'll reiterate that I own about 30% [g] of the current supply of NYAN, which makes me by definition maximally biased.
Also, I'm not sure what's up with the address from the first post. It doesn't show up in my current wallet as a recognized address. So, anyhow, don't send there. :-) If you'd like to donate, please consider sponsoring a coin-a-day or coin-a-week article.
This is the first sponsored article. This Coin-a-Year article has been brought to you by spydud22 's generous patronage. I'd been meaning to do a Coin-a-Week article on Nyancoin for a while, but between wanting to "wait until the price recovered a bit" and general procrastination, then it seemed like it would make a good Coin-a-Year article, and then I wanted to wait until the price recovered a bit more...anyhow, so thank you spydud22, for causing me to finally do this. :-)
Footnotes
  • [a] nyan.space/chain/Nyancoin ; as of block 1091430, 263738786.71890615 NYAN outstanding. This is slightly over 50% more than the last report, which is what we would expect, since it had existed for about a year then, and has approximately annual halvings. The first year generated about 50% of total supply; the second year generated about 25% of total supply. We should expect in a year to have about 17% (one-sixth) more than we have now.
  • [b] https://www.cryptopia.co.nz/Exchange?market=NYAN_BTC ; this is the only market reflected in coinmarketcap and it is the primary one on which I trade. Cryptopia also has other base pairs which operate at significantly higher spreads (lower bids; higher asks) and have minimal volume. In the time since the last report, NYAN has traded as high as 60 satoshi (and briefly a little higher at times), but over the last almost twelve months since a peak about a year ago, the price has been generally declining overall, as a gross oversimplification of a lot of movements. This has been an effect of me not being able to keep buying as much and there being large dumps I wasn't expecting from time-to-time. Now I'm taking the approach of building large (one or more nillion (million NYAN)) bids on each price as I slowly work my way back up again in order to be able to handle possible dumps with less price shock.
  • [c] coinmarketcap.com/currencies/nyancoin/ ; as noted in [b], this only reflects the /BTC basepair on Cryptopia but that's where most of the volume is anyhow. Of course, the market is also not particularly liquid since I'm the primary buyer and have rather limited means currently.
  • [d] I haven't setup a script to count this yet, among many things on my to-do list for someday, so I went through by hand from what was the then-latest block of 1091430 on nyan.space back to 1089766 which was the first block generated less than 24 hours before. There was actually a three and a half hour block gap at that point, such that the next prior block was about 24 hours and 15 minutes before 1091430 while 1089766 was only about 20 hours and 45 minutes prior, and has a disproportionate number of transactions and value compared to a typical block (8 and ~313,000 NYAN respectively) from the build-up during the gap. But since that gap conveniently started right about at the start of the 24 hour period, doesn't really skew our results here.
Note that there are often times where the UTXO created during one transaction during the day is spent during a later transaction in the day. This can be considered the "same" Nyancoin being "spent" twice in the same day in our total. But in practice, I believe what's happening here is the faucet is breaking off small (10-50 NYAN) pieces from a larger (~40,000 NYAN) chunk, and so that pops up a bunch of times. So the total NYAN blockchain volume as counted for this topline number should not be interpreted as "NYAN spent in the day" but "NYAN moved on the chain", where the "same coin" can move many times. So it's a very easily gamed metric and not a strong / resistant metric like the market price tends to be (at least relatively speaking), but it's a fun number to calculate and provides a little bit of information.
The transaction count can also be easily inflated and certainly, for instance, having the faucet does generate transactions which are a very common transaction.
And this is also just an arbitrary 24 hour period compared to a previous arbitrary 24 hour period. Nonetheless, I do think there's clearly a bit more activity on the Nyanchain, even though the typical block is still empty and the number of transactions and volume is still tiny compared to the major cryptocurrencies.
Here's an arbitrary example of the faucet transactions Note the zero transaction fee, which I love that the miners support (the defaults are all quite low as well).
Here's an example of what may be the smallest transaction by NYAN volume of the day; but no, I followed its small, spent output, and it led to this gem which also links to this. I have no idea what's going on here, but it's hilarious and I love it. How's that for microtransaction support? :-)
  • [e] Obviously Cryptsy went down. We had had more than enough red flags with Cryptsy (including one time where I was able to withdraw 6 nillion more than I had in my balance) and got onto Cryptopia. spydud22 basically accomplished that for us, although I helped out in the tail end of the campaigning.
  • [f] Our community is still small (I wish there were literally dozens of us!) but we've had valuable activity from multiple people, including, just as highlights, vmp32k who hosts nyan.space, a clone of the original nyancha.in, jwflame who created the excellent nyancoin.info intro site, with the awesome status page (which currently notes that "the last 500 blocks actually took 111 minutes, which is approaching the speed of light, causing the universe to become unstable"), KojoSlayer who runs the faucet and dice, spydud22 who got us on Cryptopia, and many other Nekonauts have made worthy contributions, and the Nekonauts mentioned have done more than just that listed. So while we are small, we are active at least from time to time and technically capable.
Even though our posting rate is still around 1 post a day or so on average, and so still a relatively quiet subreddit (and it is our main (only?) hub), it's still a very noticeable and significant difference from how /nyancoins looked when I was reviewing it for the original piece here. Here's an attempt to approximate what was there using Reddit search ; archive.org has a snapshot on January 19th, 2015, which is well into the early revival mania and one from August 14th, 2014, before four and a half months of little to no activity. Apparently archive.org unsubscribed to /nyancoins in that interval itself...
  • [g] Maybe up to around 35% by now; maybe still around 30%. I haven't updated hodling report lately; it was 30% last time I recall, but I've bought more and more has been made since.
submitted by coinaday to CryptoCurrency [link] [comments]

OnePageX: only exchanges cryptocurrencies, ¡¡¡but does it very well !!!

OnePageX: only exchanges cryptocurrencies, ¡¡¡but does it very well !!!

https://preview.redd.it/26fz8cl0izt11.jpg?width=532&format=pjpg&auto=webp&s=65da9d44e8b21d30d51228b9c81c7085e213f088

The Problems

An exchange of cryptocurrencies is a place where people can exchange their digital currency with other people, or just change currencies according to the requirements that the user wants.
Wiki defines it in the following way:
A cryptocurrency exchange or a digital currency exchange (DCE) is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. A cryptocurrency exchange can be a market maker that typically takes the bid-ask spreads as a transaction commission for is service or, as a matching platform, simply charges fees. Source:Wikipedia
These exchanges, almost all have a lot of information, with graphics and values that not everyone can understand. Sometimes so much information instead of helping, what it does is confuse users.
https://preview.redd.it/bdb644b6izt11.jpg?width=424&format=pjpg&auto=webp&s=cbda352ac43b50b0048e17b65aa72187e6118342
[Source: 1 2 34]
In addition, most exchanges use a section called "wallet", it is a place where the user has stored their cryptocurrencies, the use of the site is conditioned to the user must have money in this portfolio. That is, for a user to exchange cryptocurrencies in an exchange, the user is required to have their currencies in the portfolio associated with that exchange. Either to send cryptocurrencies or to receive them.
As a security measure, exchanges also have a series of policies for user identification. And it applies the so-called "Know Your Customer (KYC)", forcing the user to verify his account, not only by writing a user profile, but this profile must be real, because he requests a photo and a user identification document, Whether it is a passport or an identity card, there are users that, for them, to remain completely anonymous is really important.


https://preview.redd.it/f2muy98cizt11.png?width=1387&format=png&auto=webp&s=15264f290de5d14bdefa03e4250cba01a2eb7cff

OnePageX: is a true exchange of cryptocurrencies


What is OnePageX: ?

One Page Exchange (OnePageX: ) is a very practical cryptocurrency exchange, where users can change their cryptocurrencies without any complications.
The vision of OnePageX: is to make simple and quick for the user the exchange and conversion of cryptocurrencies, when and where he wants. Being able to choose between more than 140 different cryptopoints.
OnePageX is the simplest cryptocurrency exchange with a wide selection of cryptocurrencies. The name OnePageX is short for OnePageExchange. The philosophy behind OnePageX is to simplify the process of trading and converting cryptocurrencies. OnePageX does not require any registration. Simply pick your cryptocurrency of choice and get started!. Source

How does it work?

With OnePageX: , exchange cryptocurrencies in Easy

The Process is only three steps:


https://preview.redd.it/tatn8pmeizt11.jpg?width=803&format=pjpg&auto=webp&s=797d754c72de9fb5ea585612fb3eec6f5dcb7c23
Source
1.- Choose Assets to Convert:
  • The cryptocurrency that will change, for now is only Bitcoin (soon Steem and many more). And put the amount, in parentheses will come the range of amount of cryptocurrencies that the user can change.
  • The cryptocurrency that you will receive, selections among more than 140 cryptocurrencies.
2.- Enter a withdrawal address:
Place the address of the wallet where you will receive your cryptocurrencies. It should be noted that OnePageX: does not require the user to use a specific wallet.
3.- Click "Start Exchange":
Then you can deposit the bitcoins you want to change in the account indicated, and wait. You can track the transaction at all times.

OnePageX: will keep you informed of the status of your transaction at all times


Thanks to the transaction status indicators


Freshly created transaction card.

https://preview.redd.it/45buztdjizt11.jpg?width=632&format=pjpg&auto=webp&s=fe720a155a992471a75190304cccad00da5baf67
Bitcoin sent, awaiting 2 confirmations.

https://preview.redd.it/9095xgxkizt11.jpg?width=630&format=pjpg&auto=webp&s=6617f1cd11998a417d64b7f50db459eec7837e87
Exchange is complete! Starting Withdrawal.


https://preview.redd.it/ys7w915mizt11.jpg?width=630&format=pjpg&auto=webp&s=61996d7774a51c23f87a6376111e53f3a3a04fe0
Withdrawal Complete! The transaction is done.


https://preview.redd.it/951v3v1nizt11.jpg?width=630&format=pjpg&auto=webp&s=e08d52255a5fb88544fa288596d84adab562e5c1

Benefits of OnePageX:


https://preview.redd.it/iiz7lakoizt11.jpg?width=318&format=pjpg&auto=webp&s=c45566f637e658a5dae571ab6d59ae4737c679c7
Without registration:
To use OnePageX: you do not need to make any type of registration. The user is not obliged to give his real name, nor have to send any identification document. Certainly to track a transaction from start to finish, OnePageX: opens a new session, each time you want to make a transaction, generating a "url" by which the user can track the operation. For which the user should only save the url, and copy and paste when you want to verify the status of your transaction.


https://preview.redd.it/p9nl21fpizt11.jpg?width=264&format=pjpg&auto=webp&s=db99ec459660cb801a2f0533d3d067f3a5b236a7
Speed:
Since OnePageX: has a simple and direct interface, that is, it takes the user directly to what he should do, exchange cryptocurrencies. And the speed of the operation will finally depend on the release of the cryptocurrency by the user, and its confirmation in the blockchain network.
Multiple Coins:
OnePage covers a wide range of cryptocurrencies to perform operations, and although all are currently related to bitcoin, OnePageX: is making an effort to include even more cryptocurrencies, among them the STEEM.

Transaction tracking indicators
OnePageX: allows the user to be aware of the process of their transaction throughout the process.

OnePageX: Widget


OnePageX: Box
OnePageX: makes the code available to include a OnePageX: widget to your website. Providing practicality and benefits not only to the owner of the website, but to customers and users of the site.
OneBox is a turnkey solution for embedding OnePageX on your website. Visit the OneBox link via the navigation bar and simply copy the provided code into your template. OneBox is both desktop and mobile friendly, offering the full functionality of OnePageX in a single frame. A public API is in development and will be released once ready. Source


https://preview.redd.it/tuwv0ehsizt11.jpg?width=603&format=pjpg&auto=webp&s=403058880e7efddbd1174b9268a181aba922e798

Case of use


Technological Solutions Company
The HELP & INOVATIONS corporation is a technological company specializing in help solutions for people with disabilities. The technical team has developed software to facilitate the interaction of users with motor disability in the upper extremities and with loss of vision. The software is already very advanced, however they have had problems with the web pages of some cryptocurrency exchanges, it is a lot of information to program in standard sounds, and there are also many buttons to perform some function. That is, many objects that hinder programming and functionality. Then the team meets OnePageX: , is exactly what they were looking for, a practical, simple and direct interface. Where customers can interact and change cryptocurrencies without any problem.

Philanthropy
Mr. X is the pseudonym of a millionaire philanthropist who donates to many charitable foundations in complete anonymity. No one knows who he is, some believe he is a sports star, a famous artist or even some think he is an influential politician. But the truth is that there is no way to know who he is. For this. Mr. X. He has left bags with millions of dollars, simply with a card signed by Mr. X. A week ago a foundation to help children with cancer asked for help for whoever wants to do it. But with the exception that the donations will be received in cryptocurrencies. Mr. X wants to donate and help the children, but he does not know how to do it without compromising his identity. Until you get OnePageX: , without records and without complications. Mr. X and OnePageX: the perfect combination to help many.


https://preview.redd.it/f2muy98cizt11.png?width=1387&format=png&auto=webp&s=15264f290de5d14bdefa03e4250cba01a2eb7cff

Conclusions and Personal Thoughts

Traditional cryptocurrency exchanges have many algorithms, information and functions. They can act as a news channel about cryptocurrencies, sometimes they are alarms like an alarm clock with their notifications, sometimes they are financial advisers, they look like immigration police asking for identification documents, with like your mom that you have to carry the money in your wallet of cryptocurrencies. But at the time of performing its main function, that of being an exchange of cryptocurrencies are a bit confusing and complicated.
One PageX stands out because it knows very well what is its function and vision, making operations practical, easy and simple. As it should be, it's like changing a $ 100 bill for two $ 50 bills. It must be quick, easy, without complications. That is the vision of OnePageX: to make what must be simple, still easy to do.
OnePageX: only exchanges cryptocurrencies, but it does it very well!!.
https://preview.redd.it/yhovpo9yizt11.jpg?width=611&format=pjpg&auto=webp&s=1a36eaae51475e1854333107f73faaa965403bff

https://preview.redd.it/f2muy98cizt11.png?width=1387&format=png&auto=webp&s=15264f290de5d14bdefa03e4250cba01a2eb7cff

More Information and Resources

OnePageX Website OnePageX FAQ OnePageX OneBox OnePageX Steemit OnePageX Reddit OnePageX Twitter OnePageX Instagram
submitted by gamalieln to cateredcontent [link] [comments]

BE AWARE! AN AVALANCHE OF STOCKBROKERS IS ABOUT TO HAPPEN! A NEW COMMISSION-FREE CRYPTO FUTURES MARKET IS ABOUT TO BE LAUNCHED, LET'S MEET DIGITEX





Crypto has been struggling to get accepted into formal financial markets recently, Bitcoin ETF proposals have been rejected by the SEC one after the other. The SEC argues that its main concerns are market price manipulation, security issues on the crypto exchanges, low liquidity and mall relative size of the crypto market.

While it might get some more time to develop more reliable tools on the crypto ecosystem and have SEC approves bitcoin ETF. It is well known that strong future markets help to stabilize volatile prices of many assets such as commodities. Futures markets have to be incentivized to grow further and bring more overall reliability to the crypto ecosystem.

Foreseeing this opportunity, a experimented pit-trader from the London International Financial & Options Exchange (LIFFE) has inspired a crafty team to create the perfect opportunity for crypto futures markets ultimate expansion an growth. They create a concept that will change the current paradigm of crypto futures market. They have created Digitex, the first commission-free futures exchange.


Why futures markets are such a big deal?


Futures markets are one of the most important tools for stabilizing volatile markets. Its relevance for the crypto ecosystem lies in three factors:


But despite its great benefits and low costs, futures market's fees are still too much of a burden for high volume, low profit, margin futures trading strategies. This situation hinders futures market liquidity and turns possible profitable strategies into losing ones after commissions are charged.

Digitex gamechanger commission-free scheme



Digitex will create an Ethereum based token, it will be called DGTX. It will be used to denominate all profits, losses, margin requirements and account balances. Therefore, any trader that wants to participate in the commission-free trading environment of Digitex should own DGTX, thus a great demand is expected from the traders willing to join this unique opportunity.

Having read this much a question yet remain unanswered, how is it possible for an exchange to operate without charging fees? How does it sustain itself?



At this point is when the genie came out of the lamp. Instead of charging fees on traders that bring liquidity to the futures market, Digitex revenue model imposes a small inflationary cost on all token holders that will be widely outweighed with the high demand that the DGTX token will have. Even better, Digitex Futures Exchange will leverage onto the trustless security system of the Ethereum Blockchain to guard account balances. An Ethereum smart contract will hold all account balances, Digitex will inform the Smart Contract about each trader outstanding margin liabilities and profit/losses balance.

In a nutshell, Digitex Futures Exchange will not hold any physical data about traders balance nor it will hold any private key from users. Thus, malicious actors have little to no incentives to attack the Digitex.

The icing on the cake. DGTX holders will be the ones who decide DGTX minting rates


DGTX token issuance will be democratically decided by the DGTX holders through a mechanism leveraged on the Blockchain, this will readily enforce a healthy DGTX token inflation rate, aligning the interest of the DGTX holders with the interest of the Digitex Futures Exchange.


Futures traders' commission-free Utopia, a dream that became true


By creating an ERC-223 token on the Ethereum Blockchain, and by using it as the native currency of the Digitex Futures Exchange, traders will be to enjoy more freedom than ever with a operating scheme that allows them to implement whatever trading strategy they desire without fees-related limitations.


This new high liquid market will attract many traders that must buy DGTX token to cover the margin requirements to open trades. Thus, the inflationary pressure will be more than matched with the high demand for DGTX tokens. Besides, the first two years there will be no issuance of DGTX tokens since all operative cost will be covered through the DGTX ICO. Skeptical traders will have more than plenty time to watch the performance of the Digitex Futures Exchange, but traders will have to keep in mind that the early bird gets the worm.

According to Digitex Futures Exchange projections, in early 2021 the first issuance of DGTX tokens will occur. Traders will vote to decide how many tokens will be minted to cover for software development, servers, staff, premises, marketing, support, and other related costs to keep the platform fully operational. They will do so through a Blockchain-based, Decentralized, Governance Mechanism that will allow DGTX holders to vote with a 1-DGTX/1-vote ratio.

If you have had enough and don't want to waste more time to join this project, go here and get early access. If not keep reading that it just gets better



DGTX token details


Since all profits and losses are denominated in DGTX tokens, each trader have to own enough DGTX to cover his potential losses because the tick value of each Digitex futures contract is one DGTX token.

The owner of DGTX tokens can engage in the buying and selling of liquid futures on the price of the Bitcoin against the USD, Ethereum against the USD, and Litecoin against the USD. Due to the commission-free framework of Digitex, the more active the trader is, the higher the intrinsic value of each DGTX token he has because he is saving the commissions than any other platform would have charged on him for doing the exact same trade.

Let's summarize the key aspects of the DGTX token



DGTX will be the native currency of Digitex The tick value of each Digitex futures is one DGTX
Traders' margin requirements will be covered with their DGTX Account balances are denominated in DGTX tokens
DGTX minting will cover for Digitex operational costs The initial supply will be 1 billion of DGTX tokens. The funds risen in the ICO will cover the costs of Digitex for the first 2 years of operation.
Integration with swap.tech ,0xproject, and bancor.com enables free tradeability of DGTX with BTC, ETH, and other major Cryptocurrencies Traders can eliminate DGTX price risk thanks to DGTX peg system.


Price risk is no longer a burden for traders thanks to DGTX peg system


Hedging is a basic strategy in stock markets to protect portfolios and reduce the negative effects that negative market movements may have on traders investments. Traders that hedge risk on their physical holdings of the underlying instrument (Bitcoin, Ethereum, or any other cryptocurrency) cannot tolerate DGTX token's price affecting their positions.


To protect traders from DGTX price volatility, Digitex Futures Exchange has futures contracts on the price of DGTX that allows traders to lock in their tokens and sell them at current market prices. This great tool allows traders to keep possession of their DGTX tokens to cover their margins and keep trading on the Digitex futures market. The downside of this strategy is that traders will not earn the profit if the DGTX rises because of the tokens being locked at a lower price.

As with any other future contract, the trader has to deposit a margin payment in the currency to which he is pegging the value of DGTX to cover his potential loses on the trade. Because the trader is protecting himself against DGTX price risk, another currency has to be employed to cover margin payments. ETH deposits are handled into an independent account balance smart contract and BTC deposits are converted into RSK and deposited into a separated Account Balance Smart Contract (RSK is a Turing complete sidechain of the bitcoin network).

DGTX token availability


If DGTX token will be the fuel of a high volume and very liquid futures market, it has to be readily available and as frictionless as possible. Some traders may be happy to hold DGTX for the long term, but most traders will buy DGTX tokens only when needed and convert them back to other cryptocurrencies as soon as their positions are closed.


To properly address this situation, Digitex Futures Exchange will integrate 0xproject into its platform. Besides, 20% of the proceeds from token sales will be used to create a liquid market of DGTX tokens to ensure that a enough offers can sustain the expected high bid levels.

Traders on the Digitex Futures Exchange are expected to buy DGTX at the start of each trading session, use the DGTX peg-system to lock in their sale price and convert them into the original cryptocurrency a few hours later when the trading session ends. This workflow will ensure a massive volume of DGTX traffic that will benefit greatly in the long term.

DGTX token supply and distribution



DGTX token issuance model and price projections


DGTX token creation events will occur via a fully auditable Smart Contract, a transparent review of DGTX token supply and event creations will be always available. Digitex team build price projections over these basic assumptions:
  • 2% of traders are whales who buy a total of $150,000 USD worth of DGTX tokens over a 2 year period.
  • 10% of traders are medium-sized traders who buy a total of $15,000 uSD worth od DGTX tokens over a 2 year period
  • 88% of traders are small traders who buy a total of $1,500 USD worth od DGTX tokens over a 2 year period
Quotation source: Digitex white paper page 7-8



Source: Digitex white paper page 8
This is an oversimplified model that doesn't take into account the overall trend in the crypto market. If the market turns bullish the rise in DGTX prices will be more than expected, but if the market is too bearish, the expectations may not be fulfilled even if the right number of traders is reached. Despite all that, the general trend can be depicted in this chart. Moreover, taking into account that BTC has lost more than 60% of his value in 2018, DGTX stands as the 3rd bigger gainer according to coinmarketcap. You can tell from the graph below that investors are excited about the approaching kickstart date.


Source: Coinmarketcap

DGTX token inflation projections


After January 2021, the next 12 months of the operational cost will be covered through the minting of new DGTX tokens. Here we can see a table with the expected effect of the inflation on the value of each DGTX token:


Source: Digitex white paper page 9
The worst case scenario guarantees that if only 1,000 new trader registers during the first 2 years and DGTX price remain stagnant, only 5% of inflation is required to maintain the operational costs for the next 12 months. The effect of 5% inflation over the 0.02% price is negligible. Also, if the best case scenario is met, only 2.3% of inflation will be required to sustain the platform and its effect on the project price will be only of 1 cent per DGTX token. If the project reaches this stage, securing 12 months of development and more marketing will attract thousands more of traders that will increase the demand for DGTX outweighing the inflationary cost of creating that demand. You can tell that their projections might have been too conservative, in September 2018 we got an announcement about their waitlist reaching 100K signups...no wonder why their CEO seems so happy.



Digitex hybrid trustless futures trade platform


Digitex have adopted a smart combination of the best features obtained with centralized matching engines and trustless, decentralized Smart Contracts to held account balances. In the wild future trading pits, each second matters, thus its mandatory to have a system with the smallest latency levels. Also, privacy is required to prevent frontrunners to exploit big orders. Many other desirable characteristics aren't yet available onto on-chain platforms and are only reached on centralized dedicated servers such as margin trading tools, scalability, and high privacy. Therefore, a hybrid model that covers current on-chain shortcomings and have none of the centralized ill-practicing is the smartest approach to leverage this new business model.

Digitex. The oracle for the account balance smart contract



Digitex acts as an Oracle that updates the decentralized Smart Contract that holds traders' account balances. When a trader requests a withdrawal of DGTX tokens, the Smart Contract requests an update to Digitex about the trader's profit and losses, as well as his current margin liabilities on his current matched and unmatched orders. Thus, the Smart Contract can update its available withdraw balance for that trader.

The potential attack vector from the communication of the exchange with the Smart Contract will be prevented by calculating from scratch traders' profit and loss from their matched trades whenever the smart contract asks for an update to a trader's account balance. Thus, a hacker who has somehow gained access to the exchange, will not be able to create the fake matched trades (which needs a counter-party and timestamps) and alter the account's balance of any trader.

How is this hybrid model more beneficial for traders activity


Digitex is unable to freeze or to seize any trader's fund for whatever reason. Pressure from outside authorities, KYC/AML regulators cannot enforce any legal action against the exchange since it actually can't reach trader's funds. Also, Digitex doesn't have access to the private keys of any trader, thus trader's funds cannot be accessed or mismanaged for the exchange.


Final Thoughts


Digitex benefits are of great significance for everyday traders, a commission-free platform will be a substantial improvement on the profit earned in many portfolios. Also, decentralized account balances and the centralized matching engine provides the best of the decentralized blockchain security and the centralized services reliability. The expected latency time for order matching is within the millisecond's scale, also, full privacy and no front-running is expected.

From the traders business perspective, Digitex single tick trading strategies are available for the first time within the crypto ecosystem, this parallel with the market makers will greatly boost market liquidity.

A Steemit blogger use case


From the starting date of the Steemit platform, some bloggers have earned $100K worth of crypto. They have been really excited about crypto for two years, and they think it is time to jump in the futures market. They search for traditional options like BitMEX, GDAX, CryptoFacilities, and some others, but they discourage themselves when they discover that the high volume low margin strategy they have been carefully studied for the last two years is unpracticable on the traditional platforms.

They are frustrated and return to read some posts on Steemit while scrolling the trending page they read about a new futures market platform on a post of the well-known @originalworks account, they read some of the best entries of the weekly contest and they can't stop the big smile that is printed on their faces. Right from the very same source of their first crypto assets, also they get the tool that will provide them the opportunity for testing all the knowledge gathered for the last 2 years. With Digitex they will enter the world of derivatives and start their venture as crypto traders.

Additional Information about the project


Here is Digitex Roadmap



Meet Digitex team



Watch the Digitex exchange on action with their CEO Adam Todd


https://youtu.be/qxqyspMiPGg

Are you excited with the project and want even more information? Visit their social media channels



Digitex Website
  • Digitex WhitePaper
  • Digitex Telegram
  • Digitex Reddit
  • Digitex Twitter
  • Digitex Blog
  • Digitex Youtube
  • Digitex Facebook




  • Hope you have enjoyed the reading. Keep in touch for more information about great crypto projects.
    Ethereum address: 0x0ebcB37223F07B1Bd0765E70f940046D504743a5 Steemit account: https://steemit.com/@joelsegovia

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