Bitcoin Adoption: Trading Volume by Country - TotalCrypto

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

Chainlink analysis - my thoughts and research

Necessary Disclaimer: no rule breaking intended. No price manipulation intended. I only want to share verifiable facts/links and my analysis. If I am doing anything against the rules please let me know and I will do my best to fix it ASAP. I trade crypto, including LINK, and I am currently short on LINK. This is not financial advice; this is just for my own record and to start a discussion for anyone who might want more transparency around LINK.

TL;DR:

I believe there is a lot of misinformation, uncertainty, and unanswered questions about the LINK token, the Chainlink ecosystem, the SmartContract parent company. I also believe that LINK's current price is unjustified based on fundamental factors like usage/business case/current customers/future potential. So I'm raising some points and asking some questions.
What is this post? Why should I care? How do I use it?
Read or skim it. It's about the LINK token, the Chainlink ecosystem, and the parent company SmartContract. It's about why I believe the price of the LINK token may be currently driven mostly by hype and not backed by standard market fundamentals like usage/economics.
Update 9 AUG: reorganizing, rewriting this post and moving supporting data/sources into "appendix" comments below on this post. The previous versions of this post and my comments elsewhere were too emotionally charged and caused more division rather than honest, evidence-based, productive discussion and I sincerely apologize for that. I have now rewritten it and will continue to update it.

PARTNERSHIPS

Who has Chainlink partnered with? Who is using Chainlink's technology and network? Who is contributing to developing Chainlink?
Google - this is the pinned tweet on Chainlink's official page. Nothing there about Google using Chainlink services or co-developing with them. Just that blockchains/oracles CAN use google cloud services (APIs?). This is Google Cloud's June 13, 2019 blog post: https://cloud.google.com/blog/products/data-analytics/building-hybrid-blockchain-cloud-applications-with-ethereum-and-google-cloud
Oracle - (TODO. This seems to have potential as some product manager at Oracle has posted that chainlink integration is coming Q3/Q4 of 2020)
SWIFT - the best they've got is a 30 second video with NOBODY from SWIFT present, with a *hypothetical* use case using SWIFT API.
Intel This is the only google result for "chainlink site:intel.com", and it casually mentions that Intel's TEE (trusted execution environment) technology can be used to improve the security of oracles/blockchains. Nothing about Intel themselves using or developing with Chainlink. https://software.intel.com/content/www/us/en/develop/articles/new-confidential-computing-solutions-emerge-on-the-hyperledger-avalon-trusted-compute.html
Another 240+ claimed project integrations:
[TODO] There are so many to keep track of. Every week or even more frequent is yet another integration *announcement*
Current DeFi usage: we've heard that Chainlink "secures" $1 billion in DeFi. But that's not in value locked: https://defipulse.com/ (LINK doesn't even appear on that list). That's just with DeFi data supposedly being priced using Chainlink nodes.
EG Synthetix:
https://blog.synthetix.io/chainlink-decentralizes-first-wave-of-synthetix-price-feeds/ yet where does Synthetix actually PAY to use an oracle? Not visible on-chain, maybe someone will find it.
https://defipulse.com/blog/3-defi-dapps-starting-2020-off-strong/ "... Chainlink's following includes partnerships big and small, including Intel and Google Cloud services" example of misleading/exaggerated partnership claims being circulated.

Chainlink's ROADMAP

Threshold signatures, staking, on-chain SLAs:
How real are these, is there a roadmap, how will this benefit users, is there any evidence of users currently *wanting* to use chainlink but needing these features and actively waiting for Chainlink to launch these?
Staking: for there to be a valid incentive for users to stake LINK, it has to return around 5% annually because anything substantially under that would have users putting their money elsewhere (https://www.stakingrewards.com/cryptoassets) (not counting speculative capital gains in terms of LINK's price, but price gain per token/coin applies to all other crypto projects as well).
Currently, for stakable cryptos, around 30-80% of their total supply is staked, and a good adjusted reward is on the order of 5% as well (some actually negative, some 10%+). The promise of staking incentivises people to buy and hold more LINK tokens (again, many other crypto projects have staking already live). That 5% reward will ultimately have to come from the customers who pay Chainlink oracle nodes to use their services, so it's an extra 5% fee for them. Of course, in the near future, the staking rewards *could* be subsidized by the founders' reserve wallets.
Threshold signatures: addressed below in a comment.
On-chain SLAs: [TODO]
Here's supposedly Chainlink's agile/project planning board. (TODO: verify that it is indeed Chainlink's, and then analyse it)
https://www.pivotaltracker.com/n/projects/2129823

LINK wallet addresses

As LINK is an ERC20 token on the Ethereum blockchain, all its movements are visible, all the way from the genesis creation of 1,000,000,000 LINK tokens through to aggregator nodes through to cashing out on exchanges. Below are some examples and some reasons why this may be concerning to investors/holders of LINK.
This is one LINK address whale with over 6 million LINK. Looks like some of the funds end up on a Turkish exchange Paribu. https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xc6bed363b30df7f35b601a5547fe56cd31ec63da This wallet has moved out >200,000 LINK in the last 24 hours. Don't know where, go trace it.
Typical data provider example. Lots of named Chainlink oracle nodes pay this address: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x72f3dff4cd17816604dd2df6c2741e739484ca62 Usually 0.16 LINK to this address every few minutes, sometimes 2 LINK. This data provider has sent out ~11,620 LINK out to the following wallet: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xa5d0084a766203b463b3164dfc49d91509c12dab That wallet has cashed out 9,560 LINK to 1inch.exchange (a DEX) over the past year. Has also transferred 6000 LINK to a currently loaded wallet (possibly exchange account ready to sell?): https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x088d50c0bb5381a1205d1182cc21496c6fdc4c62 Another destination accumulation wallet (~493,000 LINK with no out transfers yet) https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x7758e507850da48cd47df1fb5f875c23e3340c50 (unrelated but a sell order of this size would drop LINK's price by 10-30% on Binance, someone check my maths on this) Now tracing back who funds the 0x72f3... data provider, we see a number of named Chainlink Aggregator nodes. Picking one at random, say the TUSD/ETH one: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x73ead35fd6a572ef763b13be65a9db96f7643577 It was last funded March 12 2020 with 5000 LINK. Tracing back the funds we ultimately come to the genesis wallet of the Chainlink network itself, the original source of the 1,000,000,000 LINK tokens in existence. (side note: some interesting-looking transactions there) This is the first child of the genesis wallet that received 100,000,000 from the genesis wallet. https://etherscan.io/tokentxns?a=0xf37c348b7d19b17b29cd5cfa64cfa48e2d6eb8db Last time this wallet transferred out was YESTERDAY for 500,000 LINK. Now this doesn't prove anything, DYOR, but to me it looks like the genesis wallets are slowly cashing out through the aggregator nodes, making it look like the oracle node network is being actively used (which it is, but it's not the end customers like AAVE/NEXO paying the LINK required to power oracles, it's SmartContract itself). I know that this is just ONE aggregator node, but I've seen the same behaviour from their other named nodes - go check for yourselves.
If you trace chainlink oracle funds to their source, you can find some of the original addresses. Some of these early on (around 1000 days ago) were linked to AfroDex labs, which looks like now doesn’t work. http://afrodex.net/#!/trade/AfroX-ETH
Who currently pays Chainlink nodes?
How much of the revenue that Chainlink nodes receive is from potentially third party customers vs internal funding by the Chainlink team wallets?
For example, this is the "Chainlink: LINK / USD Aggregator" wallet.
It has had a total 8,200 LINK deposited from 5 transactions in round amounts (on any of the below links, click the "Analytics" tab to see In/Out balance history), and has so far paid out ~5,156 LINK.
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x32dbd3214ac75223e27e575c53944307914f7a90
It typically pays ~10 wallets 0.16 Link each, a few times an hour, like so:
https://etherscan.io/tx/0x02c595981b935a57cfbe6170656181faac9a16d7a33a123930a716c4abec615a ($45 in ETH fees to transfer $22 worth of LINK, sounds like a lot of overheads)
Where does this aggregator wallet get its LINK funding from?
From ONLY here: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x27158157136384c713bc09a0a7ae81c8391d7f11 (current net balance ~50,000 LINK, total ~5,000,000 million in and out)
Which in turn gets it from ONLY these three, in HUGE amounts:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xf37c348b7d19b17b29cd5cfa64cfa48e2d6eb8db (6,000,000 LINK)
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xaf40738c6f940519516e043f924b8d05fc0292b8 (just a jump address into the one above, only 3 total tx)
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x1f9e26f1c050b5c018ab0e66fcae8e4394eb0165 (147,000 LINK)
the 0x1f9e2... one got its funding from:
  1. 6098.8 LINK from Binance about a year ago: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x161cdd891e04a77e0458a3ef65c563c4d2064cd6
  2. 12,600,000 from the genesis wallet through one jump address https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xdad22a85ef8310ef582b70e4051e543f3153e11f
  3. 13,000,000 from the 0xf37... wallet above
the 0xf37... in turn got its 50,000,000 (!) LINK from the genesis address which minted the original 1 billion tokens:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xf55037738604fddfc4043d12f25124e94d7d1780
So the 0x27158... wallet is basically a genesis wallet.
Now let's do the most popular feed on feeds.chain.link, the ETH/USD feed: https://feeds.chain.link/eth-usd, with a wallet address of: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xF79D6aFBb6dA890132F9D7c355e3015f15F3406F#tokenAnalytics
It was first funded in Jan 2020 and has been funded a total of 9 times for a total influx of 108,437.533 LINK, by:
  1. "Chainlink: Deployer" 10 LINK: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x6f61507f902e1c22bcd7aa2c0452cd2212009b61
  2. The 0x27158... genesis-sourced wallet, 20,000 LINK
  3. An intermediary/middle very active wallet (which is 99.998% funded by the 0x27158... genesis-sourced wallet), 52,000 LINK https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x2f0acb9c5dd2a3511bc1d9d67258e5c9434ba569
  4. "Chainlink: Aggregator", 36,427.533 LINK, https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x79febf6b9f76853edbcbc913e6aae8232cfb9de9#tokenAnalytics
I manually traced EVERY single inbound transaction/source of funds for the above 4 (not counting #1 as 10 LINK is negligible). 2 & 3 are 99.99%+ genesis-funded, being ACTIVELY topped up by a genesis wallet, last tx 4 days ago, 500,000 LINK. #4 has been funded 36 times over the past year and a half (that's 36 manual exports and I did them all). They all come from the 0x27158..., 0x2f0acb..., and https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x1f9e26f1c050b5c018ab0e66fcae8e4394eb0165 (another address like the 0x2f0acb that I went through and checked EVERY SINGLE inbound source of funds, and it's also >99.9% genesis-funded - one tx from Binance for 6098 LINK out of a total ~6,560,000 inbound LINK from genesis wallets), and two other addresses linked to Binance (0x1b185c8611d157a67d9a9d5261b0d2bd52c0bb78, 10,000 LINK and 0x039ac18afe298747c51c85e7c8f0d67c327f3883, 1,000,000 LINK)
The 0x039ac... address funded the "Chainlink: Aggregator" address with 127,900 LINK, and the 0x1b185... with about ~9,600 LINK). So yes, it's technically possible that someone not related to Chainlink paid for the ETH / USD price feed because some funds do come from Binance. However, they only come from two distinct addresses. Surely for "240+" claimed partnerships, more than TWO would pay to use Chainlink's MOST POPULAR price feed? That is, unless they don't pay directly but to another address and then Chainlink covers this one from their own wallets. I will check if that's in line with Chainlink's whitepaper, but doesn't that throw doubt on the whole model of end-users paying to use oracles/aggregators, even if it's subsidized?
I provide you this much detail not to bore you but to show you that I went through BY HAND and checked every single source (detailed sources in Appendix B) of funds for the OFFICIAL, Chainlink-listed "ETH/USD" aggregator that's supposedly sponsored by 10 DeFi partners (Synthetix, LoopSpring, OpenLaw, 1inch, ParaSwap, MCDEX, FuturesSwap, DMM, Aave, The Force Protocol). Yet where are the transactions showing that those 10 partners have EVER paid for this ETH/USD oracle? Perhaps the data is there so what am I missing? This ETH/USD aggregator has transferred out ~76,000 LINK to I guess the data providers in increments of .33 LINK. It has 21 data providers responding. I will begin investigating the data providers themselves soon.
And those middle addresses like 0x1f9e26... and 0x2f0acb...? They have transferred out hundreds of thousands if not millions of LINK to exchanges. And that's just ONE price pair aggregator. Chainlink has around 40 of these (albeit this one's one of the more popular ones).

SNX / ETH aggregator is funded 100% by genesis-sourced wallets, only 3 inbound transactions:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xe23d1142de4e83c08bb048bcab54d50907390828

Some random examples (for later, ignore these for now) ***********
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x039ac18afe298747c51c85e7c8f0d67c327f3883 bought 1,000,000 LINK from Binance in Sept 12 & 15, 2019. (one of the possible funding sources for the ETH / USD aggregator example above)
This address got 500,000 LINK from 0x27158... and has distributed them into ~5-10,000 LINK wallets that haven't had any out transactions yet
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x5bcf3edc0bb7119e35f322ba40793b99d4620f1e
**************
Another example with an unnamed aggregator-node-like wallet that was only spun up 5 days ago, Aug 5:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x2cbfd29947f774b8cf338f776915e6fee052f236
It was funded 2,000 LINK SOLELY by the 0x27158... wallet and has so far paid out ~500 LINK in 0.43 LINK amounts to 9 wallets at a time. For example, this is one of the wallets it cashes out to:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x64fe692be4b42f4ac9d4617ab824e088350c11c2#tokenAnalytics
That wallet extremely consistently collects small amounts of LINK since Oct 2019. It must be a data provider because a lot of Chainlink named wallets pay it small amounts of LINK regularly. It has transferred out 20 times. The most recent transfer out:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xc8c30fa803833dd1fd6dbcdd91ed0b301eff87cf which then immediately transferred to the named "1inch.exchange" wallet, so I assume this was a "cash-out" transaction. It has cashed out via this address a lot.
Granted, it also has transfer-out transactions that haven't (yet) ended up in an exchange wallet, eg https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x88e5353a73f38f25a9611e6083de6f361f9b537b with a current balance of 3000 LINK. This could be a user's exchange wallet, ready to be sold, or could be something else. No way for me to tell as there are no out txs from it.

LINK overall transaction, volume, and tx fees

This is to understand how much $ moves through the LINK ecosystem through: nodes, data providers, reserve wallets, wallets linked to exchanges, others.
A typical aggregator node tx (payout?): https://etherscan.io/tx/0xef9e8e6dd94ebe9bbac8866f18c2ea0a07408ced1aa77fa04826043eaa55e772 This is their ETH/USD aggregator paying out 1 LINK to each of 21 addresses. Value of 21 LINK ~= $210. Total eth tx fees: .233 ETH (~$88.5, ~42% of the total tx value. If LINK was $4.2 instead of $10, the tx fees would be 100% of the value of the tx). Transactions like this happen every few minutes, and the payout amounts are most often 0.16, 0.66, 1.0, and 2.0 Link.
Chainlink’s node/job listing site, https://market.link, lists 86 nodes, 195 feeds, 801 jobs, ~1,080,000 job runs (I can’t tell if this is over the past 2 months or 1.5 years). Only 20 nodes have over 1000 job runs, and 62 nodes have ZERO runs. Usual job cost is listed as 0.1 link, but the overall payout to the nodes is 10-20 times this. The nodes then cash out usually through a few jump addresses to exchanges. Some quick maths: (being generous and assuming it’s 1mil jobs every 2 months = ~6mil link/year = $60,000,000 revenue a year. This is the most generous estimate towards link’s valuation I’ve found so far. If we ignore the below examples where on multi-node payouts the tx fees are more than the node revenue itself, then it’s almost in line with an over-valued (but real) big tech company.
For example, one of the latest CHF/USD job runs paid 0.1 LINK to 9 addresses (data providers?) - total $14.4 payout - and paid 0.065 ETH ($24.5) in fees. That’s a $10.1 LOSS on a $14.4 revenue: https://etherscan.io/tx/0xa6351bab810b6864bfebb0f6e1e3bde3c8856f8aac3ba769dd2e6d1a39c0d23f
Linkpool’s (one of the biggest node operators) “ETH-USD CryptoCompare” job costs 0.1 link and has 33 runs in the past 24 hours (once every ~44min), total ~78,000 runs since May 30 2019 (once every ~8min). https://market.link/jobs/64bb0845-c4e1-4681-8853-0b5aa7366101/runs (PS cryptocompare has a free API that does this. Not sure why it costs $1 at current link prices to access an API once)

Token distribution:

Top 100 wallets (0.05% of ~186,000 total) hold 83% of tokens. 8 wallets each hold over 1% of total, 58 hold over 0.1%. Of these 58, 9 are named exchange/lending pool wallets.
For comparison, for Tether (TUSD), the top 100 wallets (0.006% of ~1,651,000 total) hold 35.9% of the supply. 3 addresses hold over 1% of the supply and 135 hold over 0.1%. Of these 135, at least 15 are named exchange/lending pool wallets.
LINK’s market cap is $3.5B (or $10B fully diluted, if we count the foundedev-controlled tokens, which we should as there's nothing preventing them from being moved at a moment's notice). Tether’s is $6.9B. Tether has 10 times more addresses and less distribution inequality. Both LINK and Tether are ERC20 tokens, and even if we temporarily ignore any arguments related to management/roadmap/teams etc, Tether has a clear, currently functional, single use case: keep 1 USDT = $1 USD by printing/burning USDT (and yet as of April 2019, only 74% of Tether's market cap is backed by real funds - https://en.wikipedia.org/wiki/Tether_(cryptocurrency))). Given that Chainlink's market cap is now 50% bigger than Tether's, surely by now there's AT LEAST one clear, currently functional use case for LINK? What is it? Can we *see* it happening on-chain?

Chainlink’s actual deliverable products

"What do I currently get for my money if I buy LINK 1) as an investor and 2) as a tech business/startup thinking of using oracles?”
Codebase (Chainlink’s github has around 140-200,000 lines of code (not counting html/css). What else is not counted in this? Town crier? Proprietary code that we don't know about yet? How much CODING has Chainlink done other than what's on github?
Current network of oracles - only ~20 active nodes - are there many more than the ones listed on market.link and reputation.link? If so, would be nice to know about these if we're allowed!
Documentation - they have what seems like detailed instructions on how to launch and use oracle nodes (and much more, I haven't investigated yet) (TODO this part more - what else do they offer to me as an end consumer, and eg as a tech startup needing oracle services that I can’t code myself?)

Network utilization statistics:

Etherscan.io allows csv export of the first 5000 txs from each day. From Jul 31 to Aug 6 2020, I thus downloaded 30,000 tx from midnight every day to an average of 7:10am (so 24 hour totals are 3.34x these numbers if we assume the same network utilization throughout the day).
(Summary of all LINK token activity on the ETH blockchain from 31.07 to 06.08, first 5000 txs of each day (30k total) shown Appendix A comment below this post.)
If we GENEROUSLY assume that EVERY SINGLE transaction under 10.0 LINK is ACTUAL chainlink nodes doing ACTUAL work, that’s still under 0.1% of the LINK network’s total volume being used for ACTUAL ecosystem functioning. The rest is speculation, trading, node funding by foundedev wallets, or dumping to exchanges (anything I missed?)
Assuming the above, the entire turnover of the actual LINK network is currently (18,422 LINK) * ($10/LINK) * (3.34 as etherscan.io’s data only gives first 5000 tx per day which averages to 7:10am) * (52 wk/year) = USD $31,995,329 turnover a year.
Note: the below paragraph is old analysis using traditional stock market Price/Earnings ratios which several users have now pointed out isn't really applicable in crypto. I leave it for the record. Assuming all of that is profit (which it’s not given tx fees at the very least), LINK would need a PE ratio (Price/Earnings) of 100 times to justify its current (undiluted) valuation of $3.5 billion of 300 if you count the other 65% of tokens that haven’t been dumped by the founders/devs yet. For comparison, common PE ratios are 32 (facebook), 29 (google), 37 (uber), 20 (twitter on a good year), 10 (good hedge fund returning 10% annual).

Thoughts on DeFi & yield-farming - [TODO]

Why would exchanges who do their due diligence list LINK, let alone at a leverage? 1) that's their business, they take a cut of every transaction, overhyped or not, 2) they're not safe from listing openly bearish tokens like EIDOS (troll token that incentivized users to make FAKE transactions, response to EOS) https://www.coindesk.com/defi-yield-farming-comp-token-explained
The current ANNUAL yield on liquidity/yield farming is something like 2% on STABLE tokens like USDC and TETHER which at least have most of their supply backed by real-world assets. If Chainlink LINK staking is to be successful, they'll have to achieve at LEAST that same 2% at end-state. IF LINK is in bubble territory and drops, that's a lot of years at 2% waiting to recoup losses.

SmartContract Team & Past Projects

Normally I don't like focussing on people because it leads too easily to ad-hominem attacks on personality rather than on technology/numbers as I've done above, but I came across this and didn't like what I saw.
Steve Ellis, SmartContract's current CTO, co-founded and worked in "Secure Asset Exchange" from 2014 to 2016. They developed the NXT blockchain, issued 1,000,000,000 NXT tokens (remind you of anything?), NXT was listed end of 2013 and saw 3 quick 500%-1000% pumps and subsequent dumps in early in mid 2014, and then declined to . SecureAE officially shut down in Jan 2016. Then at some point a company called Jelurida acquired the rights to NXT (presumably after SecureAE?), then during the 2017 altcoin craze NXT pumped 300 times to a market cap of $1.8 BILLION and then dumped back down 100 times and now it's a dead project with a market cap of $13 million.
https://www.linkedin.com/in/steveellis0606/
https://trade.secureae.com/
https://coinmarketcap.com/currencies/nxt/
https://www.jelurida.com/news/lawsuit-against-apollo-license-violations
As an investor or business owner, would you invest/hire a company whose co-founders/CTO's last project was a total flop with a price history chart that's textbook pump-and-dump behaviour? (and in this case, we KNOW the end result - 99% losses for investors) If you're Google/Oracle/SWIFT/Intel, would you partner with them?

Open questions for the Chainlink community and investors:

  1. Network activity: Are there any other currently active chainlink nodes other than those listed on market.link and reputation.link? If so, is there a list of them with usage statistics? Do they use some other token than LINK and thus making simple analytics of the LINK ERC20 token not an accurate representation of Chainlink’s actual activity? If the nodes listed on the two sites above ARE currently the main nodes, then
  2. PR, partnership announcements: Why is the google tweet still pinned to the top of Chainlink’s twitter? Due to the frequently circulated Chainlink promotion material (https://chainlinkecosystem.com/) that lists Google as one of the key partners, this tweet being pinned is potentially misleading as there isn't anything in there to merit calling Google a "collaborator" or "partner" - just that blockchains/oracles *can* use Google's APIs (but so can most software in the world). Is there something else going on with the SmartContract-Google relationship that warrants calling Google a partner that we're simply not aware of yet?
  3. By buying LINK, what backs YOUR money: If you have bought and currently hold LINK tokens, how comfortable are you that the future promise of your investment growing is supported on verifiable business and technological grounds versus pure, parabolic hype? If after reading this post you still are, I kindly ask you to reply and show how even one of the points I provided is either incorrect or not applicable, and I will edit my post and include your feedback in the relevant section as I have already done from other users.
  4. What have I missed? Of course not 100% of what I've said is infallible truth. I am a real human, and I have plenty of biases and blind spots. Even if what I've provided is technically correct, there may be other much more important info that I've missed that eclipses what I've provided here. Ask yourself: if the current hype around LINK is indeed valid and points to a $100/$1000 future LINK price, then Where’s Chainlink’s missing financial/performance/usage evidence to justify LINK’s current valuation of $10+?

Conclusion

For your consideration, I have provided evidence with links that you can follow and verify, and draw your own conclusions. I have made my case as to why I believe the LINK token is currently priced much higher than evidence supports, and I ask you to peer-review my analysis and share your thoughts with me and with the wider LINK/crypto community.
Thank you for your time, I realize this is a long post. All questions and feedback welcome, feel free to comment or PM. I won't delete/censoblock (except for personal threats, safety considerations etc). I am a real human but I am not revealing my true identity for obvious privacy/harassment reasons.
(If anyone is wondering about my credentials ability to add 2+2 and work with basic spreadsheets: I have previously won a math competition in a USA state, I won an English-speaking country's physics olympiad, my university education is in mathematical physics/optimization engineering, and I worked for a few years in a global manufacturing company doing data analytics, obviously I'm not posting my CV here to verify that but I promise you it's the truth)
I’m not looking to spread neither FUD, nor blind faith, nor pure hype, and I want an honest transparent objective discussion. I personally believe more that LINK is overvalued, but my beliefs have evolved and may continue to do so as I research more and understand more about Chainlink, LINK, Ethereum, DeFi, and other related topics, and as I incorporate YOUR feedback. If you think I haven't disclosed something, ask.
As always, this is not financial advice and I am not liable for anything that may happen as a result of you reading this!
submitted by Stratocatter to CryptoCurrency [link] [comments]

Really disappointed with the 5k USD trading volume requirement for the Syndicate

I staked 10,000 CRO on the exchange a few days ago (at the day of the DAI event).
10,000 CRO is currently worth about 1630 USD. Based on past Syndicate results, I was calculating with a profit of ~17 USD per week from the syndicate, about 442 USD in 6 months independent of the CRO price. Combined with the 20% staking benefit and the pay benefit, this made it worth the risk of having my funds locked up for 6 months and not being able to take profits.
A few hours after I staked, it was announced that future syndicate events require 5,000 USD trading volume to participate. I am not a trader and was counting on the benefits from the Syndicate when I made my investment.
I find it very sketchy that terms are changed so suddenly. I am now stuck with 10k CRO locked up for 6 months with the only benefit of earning me a few % more than the 14% I would get in flexible crypto earn where I have the flexibility to sell at any time.
I am really disappointed in CDC.
submitted by thejulianunknown to Crypto_com [link] [comments]

Decentr ($DEC) - foundational cross-chain and cross-platform DeFi protocol

  1. SUMMARY
Decentr is a protocol designed to make blockchain/DLT mainstream by allowing DeFi applications built on various blockchains to “talk to each other”. Decentr is a 100% secure and decentralised Web 3.0 protocol where users can apply PDV (personal data value) to increase APR on $DEC that users loan out as part of of our DeFi dLoan features, as well as it being applied at PoS when paying for stuff online. Decentr is also building a BAT competitor browser and Chrome/Firefox extension that acts as a gateway to 100% decentralised Web 3.0
Allows DeFi Dapps to access all Decentr’s dFintech features, including dLoan, dPay. Key innovation is that the protocols is based on a user’s ability to leverage the value of their data as exchangeable “currency”.
  1. KEY CONCEPTS

  1. REVENUE MODEL
A fee is charged for every transaction using dPay whereby an exchange takes place between money (fiat and digital) and data, and vice versa, either as part of DeFi features or via a dApp built on Decentr. They are launching pilot programmes in the following industries:
  1. Banking/PSP Industry: On Product launch, due to Decentr’s powerful PSP connections (including the worlds #2 PSP by volume), a medium-scale pilot program will be launched, which will seed the network with 150,000 PSP customers in primarily the Spanish/LAC markets, generating revenue from day one.
  2. “Bricks and Mortar” Supermarket/Grocery Industry: Decentr aims to ensure the long-term competitiveness of “bricks and mortar” supermarkets against online-only grocery retailers, such as Amazon, by a) building secure tech that allows supermarkets to digitise every aspect of their supply chains and operational functions, while b) allowing supermarkets to leverage this incredibly valuable data as a liquid asset class. Expected revenue by Year 5: $114Mn per year.
  3. Online Advertising Industry: Decentr’s 100% decentralised platform credits users secure data with payable value, in the form of PDV, for engaging with ads. The Brave browser was launched in 2012 and in 8 years has reached over 12 million monthly active users, accented by as many as 4.3 million daily active users.
  4. TOKEN $DEC AND SALE
Decentr recently complete their token sale on a purchase portal powered by Dolomite where they raised $974,000 in 10 minutes for a total sale hardcap of 1.25M. The $DEC token is actively trading on multiple exchanges including Uniswap and IDEX. Listed for free on IDEX, Hotbit, Hoo, Coinw, Tidex, BKex. Listed on CoinGecko and Coinmarketcap. Listed on Delta and Blockfolio apps.
➡️ Circulating supply: 61m $DEC.
➡️ Release schedule and token distribution LINK -> NO RELEASE UNTIL 2021.
➡️Contract Address - 0x30f271C9E86D2B7d00a6376Cd96A1cFBD5F0b9b3
➡️Decimals - 18, Ticker - DEC
➡️Uniswap link: https://uniswap.info/pai0x3AEEE5bA053eF8406420DbC5801fC95eC57b0E0A
⭐️ HOW TO BUY VIDEO: https://www.youtube.com/watch?v=iloAiv2oCRc&feature=youtu.be
$DEC Token utility:
A tradeable unit of value that is both internal and external to the Decentr platform.A unit of conversion between fiat entering and exiting the Decentr ecosystem.A way to capture the value of user data and combines the activity of every participant of the platform performing payment (dPay), or lending and borrowing (dLend), i.e a way to peg PDV to tangible/actionable value.Method of payment in the Decentr ecosystem.A method to internally underwrite the “Deconomy.
  1. NOTABLE SUPPORTERS
Simon Dedic - chief of Blockfyre: https://twitter.com/scoinaldo/status/1283787644221218817?s=20https://twitter.com/scoinaldo/status/1283719917657894912?s=21
Spectre Group Pick : https://twitter.com/SPECTREGRP/status/1284761576873041920https://twitter.com/llluckyl/status/1283765481716015111?s=21
Patrons of the Moon/Lil Uzi: https://t.me/patronsofthemoon/6764
CryptoGems: https://twitter.com/cryptogems_com/status/1283719318379925506?s=09t
tehMoonwalker pick who is a TOP 5 influencer per Binance:https://twitter.com/tehMoonwalkestatus/1284123961996050432?s=20https://twitter.com/binance/status/1279049822113198080
Holochain was one of their earliest supporters and they share a deep connection (recently an AMA was conducted in their TG group): https://medium.com/@DecentrNet/decentr-holochain-ama-29d662caed03
  1. UPCOMING NEWS
--------------------------------------------
  1. RESOURCES:
Website: https://decentr.net
Telegram: https://t.me/DecentrNet
Medium: https://medium.com/@DecentrNet
Twitter: https://twitter.com/DecentrNet
Whitepaper: https://decentr.net/files/Decentr_Whitepaper_V1.4.pdf
Technical Whitepaper: https://decentr.net/files/Decentr_Technical_Whitepaper_Data_As_Economic_Currency.pdf
Recent Articles:
⚡️- https://medium.com/@DecentrNet/decentr-token-sale-metrics-and-distribution-483bb3c58d05
⚡️- https://medium.com/@DecentrNet/how-decentrs-defi-dloan-function-benefits-dec-holders-97ff64a0c105
⚡️- https://medium.com/@DecentrNet/3-vertical-revenue-streams-decentr-is-targeting-4fa1f3dd62de
⚡️- https://medium.com/@DecentrNet/brave-browser-the-good-the-bad-and-the-fundamentally-misguided-8a8593b0ff5b
⚡️- https://medium.com/@DecentrNet/how-decentrs-dfintech-replaces-swift-sct-inst-clearing-house-and-other-payment-solutions-78acacbb4c3f
Chad Gang STRONG Community: https://t.me/decentrtrading
Community News Channel: https://t.me/chadnews
Recent Uniswap trades: https://t.me/dectrades
Wallet holder tracker: https://t.me/DEC_WALLETS_COUNT
submitted by ldd999 to CryptoMoonShots [link] [comments]

Deep Dive on the first Reddit Points, $DONUT Token 🍩 🍩 🍩Very Attractive, Low-Cap Opportunity 💎

DONUT TOKEN 🍩 🍩 🍩

TL;DR:


Fun fact, @cslarson (head moderator of ethtrader and founder of DONUTS as far as I can tell) was actually hacking on SourceCred before DONUTS happened. He, along with @lkngtn and @jvluso had recently coded up credao at a hackathon, a project that mints ERC-20 tokens in an Aragon DAO according to Cred scores, when he got the call from Reddit offering support for prototyping DONUTS on ethtrader. Can’t blame him:)
... 👇👇👇

MAIN POST:

Funnily enough, this is actually an alpha: right now you can ‘farm DONUT’ by contributing to ethtrader through high-quality memes, discussions, comments etc. Just by being an active member of the community, you can earn DONUT 🍩 tokens which you can sell for real $ETH. I’ll explain later why people would want to buy DONUT. Or, you can HODL them, which is highly recommended. Based on the last rewards distribution (https://www.reddit.com/ethtradecomments/i48u9g/new_donuts_distribution/) if you earned a mere 100 or so Karma points in the sub, you would have received 10,000 DONUT tokens which you can then sell for ETH on a growing list of exchanges, namely Uniswap (which has growing liquidity).
This is an example of what DeFi and Ethereum are all about and is one of the more significant community-focused projects. You have all sorts of crummy community tokens out there but none have the ecosystem to back them up. Don’t get me wrong, I’m not saying DONUT is a $LEND, $COMP, etc but it ticks all the boxes to be considered a moon-shot: meme-worthy, existing network effect, undeniable utility, Reddit-backing, AragonDAO support, and more.
...
The Ethtrader Group is a 100% community-run subreddit-collective where the governance token DONUT 🍩is used to vote on proposals regarding tokenomics. Slashing supply, changing tokenomics and other decisions can be made in their AragonDAO with the more DONUT 🍩 you hold resulting in higher voting power. It makes sense that Aragon was used seeing as the lead developer Carlson was working on Credao (a similar concept) using Aragon before he was approached by Reddit to work on the very first iteration of their Community Points system before rolling it out across the entire platform. Source. Any member of the community can propose changes by first gauging sentiment through polls in the subreddit (something you need DONUT for by the way), following up with proposals in AragonDAO which require voting (again voting power is tied to DONUT holdings).
...
Growth over time: DONUT 🍩 has thus far followed similar growth trajectories of projects that start out organic, community and product-focused and over time attract real interest, real activity and real growth. This is in opposition to projects that market first and deliver later. DONUT hasn’t marketed anything as the community has focussed internally during the bear market and the ecosystem is relatively new, which is why it isn’t already worth more. I have been trading crypto since 2011 and ALTs since 2014 and I’ve learned to spot these nuanced differences between projects, and the all-important signals. The DONUT token launched in its current state in Jan 2019 with a volume of $30 and a price of $0.0019. But I am going to focus on December 2019 as the start date for a number of reasons: first, due to some teething pains with the direction of Ethtrader & $DONUT some of the team split off, the Token also underwent a shift and you can see on the chart this early phase does not reflect any organic price action. So, starting from the latter date, looking at the chart, you can see an organic price development typical of many promising projects. Slow, steady accumulation, followed by sharper ups and downs with the bottoms rising upwards. I saw this same pattern on pretty much every organic-driven ALT I’ve invested in with success. In the last 2 weeks, ATHs have been broken across the board.
...
Similar successes: Let’s face it. In our funky community, tokens of all kinds can grow astronomically. Even those without a single use-case can grow simply because they are meme-worthy. Think $DogeCoin or $Garlicoin. More recently you have $TEND which is growing in popularity and is currently worth $1 (when I first started writing this post, it was at $0.50. DONUT was at $0.005 and is now touching $0.01).
DONUT 🍩 is unique in that it has potential to be a significant Ethereum meme token on par with these examples but more importantly, it also has tangible use-cases which will ensure the project remains active over a longer course of time, with accessibility open to anyone with spare time to meaningfully contribute to the community. But that isn’t the clincher. The Ethtrader group is large and getting larger with almost a quarter of a million members at the time of writing. That is a valuable audience of highly relevant people interested in cryptocurrency, especially Ethereum. DONUT 🍩is used in a Harbinger Tax style system (whereby someone would use DONUT to buy ad space from the current owner for a price set by that owner. This person would then set a new price — this will be the cost someone who wants it back will need to pay — and then based on this new price there will be a 100% daily tax for as long as you choose to hold the banner for). This adversarial system will ensure you have projects (typically with deep pockets) buying up lots of DONUT 🍩 to ensure they can control the banner, spending those DONUT tokens on getting the banner, and the process will continue over and over. If we enter a new bull market for DeFi, this will be a significant value and liquidity driver as let’s face it, that is prime real estate for brand exposure. I'll draw your attention back to the feedback loop I mentioned in the TL;DR.

Tokenomics:

📸IMAGE: https://imgur.com/a/CnFpfQr
*note, this is just a quick thing I slapped together and shows just one process and one use-case and is not a comprehensive diagram. Hopefully, it is useful anyway.
Deflationary or inflationary?
The DONUT used to buy the banner is always burnt, currently, 3 Million DONUT is burned per month. While there is monthly issuance (the source of contribution rewards), there is also frequent burn events. Currently, the banner is burning 100,000 DONUT per day compared to the 4,000,000 issued per month.
This daily burn can increase or decrease depending on the cost of the banner which can increase or decrease based on what the owner sets it as. This means when demand increases (exchanges, dapps, projects bid for the banner space), the burn rate will exceed the issuance rate, resulting in deflationary tokenomics. Conversely, if the cost of the banner decreases and is below the threshold (as it currently is, only slightly) then technically it will be inflationary.
The deflationary dominance has already proven to be effective seeing as the token started out with 100m units and now on around 90m. Furthermore, the issuance rate can at anytime be slashed if put to a community vote which anyone in the community can initiate, so long as they own DONUT. So, DONUT is also used here as a governance token, the more you have the stronger your vote on such decisions. To use DONUT to vote on community initiatives or a change in the tokenomics, you’ll need to visit their integrated AragonDAO and learn more about the process. This can be found here: https://mainnet.aragon.org/#/0x57EBE61f5f8303AD944136b293C1836B3803b4c0 and is also where DONUT is claimed from.

Takeaways:

Resources:

In the news:

I hope this was in-depth and useful. I have tried to add as much as possible but I have no doubt missed some stuff as well. As always, DYOR and make an informed decision. For me, at this price, it's a no brainer.
submitted by defi-chad to CryptoMoonShots [link] [comments]

ETHE & GBTC (Grayscale) Frequently Asked Questions

It is no doubt Grayscale’s booming popularity as a mainstream investment has caused a lot of community hullabaloo lately. As such, I felt it was worth making a FAQ regarding the topic. I’m looking to update this as needed and of course am open to suggestions / adding any questions.
The goal is simply to have a thread we can link to anyone with questions on Grayscale and its products. Instead of explaining the same thing 3 times a day, shoot those posters over to this thread. My hope is that these questions are answered in a fairly simple and easy to understand manner. I think as the sub grows it will be a nice reference point for newcomers.
Disclaimer: I do NOT work for Grayscale and as such am basing all these answers on information that can be found on their website / reports. (Grayscale’s official FAQ can be found here). I also do NOT have a finance degree, I do NOT have a Series 6 / 7 / 140-whatever, and I do NOT work with investment products for my day job. I have an accounting background and work within the finance world so I have the general ‘business’ knowledge to put it all together, but this is all info determined in my best faith effort as a layman. The point being is this --- it is possible I may explain something wrong or missed the technical terms, and if that occurs I am more than happy to update anything that can be proven incorrect
Everything below will be in reference to ETHE but will apply to GBTC as well. If those two segregate in any way, I will note that accordingly.
What is Grayscale? 
Grayscale is the company that created the ETHE product. Their website is https://grayscale.co/
What is ETHE? 
ETHE is essentially a stock that intends to loosely track the price of ETH. It does so by having each ETHE be backed by a specific amount of ETH that is held on chain. Initially, the newly minted ETHE can only be purchased by institutions and accredited investors directly from Grayscale. Once a year has passed (6 months for GBTC) it can then be listed on the OTCQX Best Market exchange for secondary trading. Once listed on OTCQX, anyone investor can purchase at this point. Additional information on ETHE can be found here.
So ETHE is an ETF? 
No. For technical reasons beyond my personal understandings it is not labeled an ETF. I know it all flows back to the “Securities Act Rule 144”, but due to my limited knowledge on SEC regulations I don’t want to misspeak past that. If anyone is more knowledgeable on the subject I am happy to input their answer here.
How long has ETHE existed? 
ETHE was formed 12/14/2017. GBTC was formed 9/25/2013.
How is ETHE created? 
The trust will issue shares to “Authorized Participants” in groups of 100 shares (called baskets). Authorized Participants are the only persons that may place orders to create these baskets and they do it on behalf of the investor.
Source: Creation and Redemption of Shares section on page 39 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Note – The way their reports word this makes it sound like there is an army of authorizers doing the dirty work, but in reality there is only one Authorized Participant. At this moment the “Genesis” company is the sole Authorized Participant. Genesis is owned by the “Digital Currency Group, Inc.” which is the parent company of Grayscale as well. (And to really go down the rabbit hole it looks like DCG is the parent company of CoinDesk and is “backing 150+ companies across 30 countries, including Coinbase, Ripple, and Chainalysis.”)
Source: Digital Currency Group, Inc. informational section on page 77 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
Source: Barry E. Silbert informational section on page 75 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
How does Grayscale acquire the ETH to collateralize the ETHE product? 
An Investor may acquire ETHE by paying in cash or exchanging ETH already owned.
Source: Creation and Redemption of Shares section on page 40 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Where does Grayscale store their ETH? Does it have a specific wallet address we can follow? 
ETH is stored with Coinbase Custody Trust Company, LLC. I am unaware of any specific address or set of addresses that can be used to verify the ETH is actually there.
As an aside - I would actually love to see if anyone knows more about this as it’s something that’s sort of peaked my interest after being asked about it… I find it doubtful we can find that however.
Source: Part C. Business Information, Item 8, subsection A. on page 16 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Can ETHE be redeemed for ETH? 
No, currently there is no way to give your shares of ETHE back to Grayscale to receive ETH back. The only method of getting back into ETH would be to sell your ETHE to someone else and then use those proceeds to buy ETH yourself.
Source: Redemption Procedures on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Why are they not redeeming shares? 
I think the report summarizes it best:
Redemptions of Shares are currently not permitted and the Trust is unable to redeem Shares. Subject to receipt of regulatory approval from the SEC and approval by the Sponsor in its sole discretion, the Trust may in the future operate a redemption program. Because the Trust does not believe that the SEC would, at this time, entertain an application for the waiver of rules needed in order to operate an ongoing redemption program, the Trust currently has no intention of seeking regulatory approval from the SEC to operate an ongoing redemption program.
Source: Redemption Procedures on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the fee structure? 
ETHE has an annual fee of 2.5%. GBTC has an annual fee of 2.0%. Fees are paid by selling the underlying ETH / BTC collateralizing the asset.
Source: ETHE’s informational page on Grayscale’s website - Located Here
Source: Description of Trust on page 31 & 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the ratio of ETH to ETHE? 
At the time of posting (6/19/2020) each ETHE share is backed by .09391605 ETH. Each share of GBTC is backed by .00096038 BTC.
ETHE & GBTC’s specific information page on Grayscale’s website updates the ratio daily – Located Here
For a full historical look at this ratio, it can be found on the Grayscale home page on the upper right side if you go to Tax Documents > 2019 Tax Documents > Grayscale Ethereum Trust 2019 Tax Letter.
Why is the ratio not 1:1? Why is it always decreasing? 
While I cannot say for certain why the initial distribution was not a 1:1 backing, it is more than likely to keep the price down and allow more investors a chance to purchase ETHE / GBTC.
As noted above, fees are paid by selling off the ETH collateralizing ETHE. So this number will always be trending downward as time goes on.
Source: Description of Trust on page 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
I keep hearing about how this is locked supply… explain? 
As noted above, there is currently no redemption program for converting your ETHE back into ETH. This means that once an ETHE is issued, it will remain in circulation until a redemption program is formed --- something that doesn’t seem to be too urgent for the SEC or Grayscale at the moment. Tiny amounts will naturally be removed due to fees, but the bulk of the asset is in there for good.
Knowing that ETHE cannot be taken back and destroyed at this time, the ETH collateralizing it will not be removed from the wallet for the foreseeable future. While it is not fully locked in the sense of say a totally lost key, it is not coming out any time soon.
Per their annual statement:
The Trust’s ETH will be transferred out of the ETH Account only in the following circumstances: (i) transferred to pay the Sponsor’s Fee or any Additional Trust Expenses, (ii) distributed in connection with the redemption of Baskets (subject to the Trust’s obtaining regulatory approval from the SEC to operate an ongoing redemption program and the consent of the Sponsor), (iii) sold on an as-needed basis to pay Additional Trust Expenses or (iv) sold on behalf of the Trust in the event the Trust terminates and liquidates its assets or as otherwise required by law or regulation.
Source: Description of Trust on page 31 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Grayscale now owns a huge chunk of both ETH and BTC’s supply… should we be worried about manipulation, a sell off to crash the market crash, a staking cartel? 
First, it’s important to remember Grayscale is a lot more akin to an exchange then say an investment firm. Grayscale is working on behalf of its investors to create this product for investor control. Grayscale doesn’t ‘control’ the ETH it holds any more then Coinbase ‘controls’ the ETH in its hot wallet. (Note: There are likely some varying levels of control, but specific to this topic Grayscale cannot simply sell [legally, at least] the ETH by their own decision in the same manner Coinbase wouldn't be able to either.)
That said, there shouldn’t be any worry in the short to medium time-frame. As noted above, Grayscale can’t really remove ETH other than for fees or termination of the product. At 2.5% a year, fees are noise in terms of volume. Grayscale seems to be the fastest growing product in the crypto space at the moment and termination of the product seems unlikely.
IF redemptions were to happen tomorrow, it’s extremely unlikely we would see a mass exodus out of the product to redeem for ETH. And even if there was incentive to get back to ETH, the premium makes it so that it would be much more cost effective to just sell your ETHE on the secondary market and buy ETH yourself. Remember, any redemption is up to the investors and NOT something Grayscale has direct control over.
Yes, but what about [insert criminal act here]… 
Alright, yes. Technically nothing is stopping Grayscale from selling all the ETH / BTC and running off to the Bahamas (Hawaii?). BUT there is no real reason for them to do so. Barry is an extremely public figure and it won’t be easy for him to get away with that. Grayscale’s Bitcoin Trust creates SEC reports weekly / bi-weekly and I’m sure given the sentiment towards crypto is being watched carefully. Plus, Grayscale is making tons of consistent revenue and thus has little to no incentive to give that up for a quick buck.
That’s a lot of ‘happy little feels’ Bob, is there even an independent audit or is this Tether 2.0? 
Actually yes, an independent auditor report can be found in their annual reports. It is clearly aimed more towards the financial side and I doubt the auditors are crypto savants, but it is at least one extra set of eyes. Auditors are Friedman LLP – Auditor since 2015.
Source: Independent Auditor Report starting on page 116 (of the PDF itself) of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
As mentioned by user TheCrpytosAndBloods (In Comments Below), a fun fact:
The company’s auditors Friedman LLP were also coincidentally TetheBitfinex’s auditors until They controversially parted ways in 2018 when the Tether controversy was at its height. I am not suggesting for one moment that there is anything shady about DCG - I just find it interesting it’s the same auditor.
“Grayscale sounds kind of lame” / “Not your keys not your crypto!” / “Why is anyone buying this, it sounds like a scam?” 
Welp, for starters this honestly is not really a product aimed at the people likely to be reading this post. To each their own, but do remember just because something provides no value to you doesn’t mean it can’t provide value to someone else. That said some of the advertised benefits are as follows:
So for example, I can set up an IRA at a brokerage account that has $0 trading fees. Then I can trade GBTC and ETHE all day without having to worry about tracking my taxes. All with the relative safety something like E-Trade provides over Binance.
As for how it benefits the everyday ETH holder? I think the supply lock is a positive. I also think this product exposes the Ethereum ecosystem to people who otherwise wouldn’t know about it.
Why is there a premium? Why is ETHE’s premium so insanely high compared to GBTC’s premium? 
There are a handful of theories of why a premium exists at all, some even mentioned in the annual report. The short list is as follows:
Why is ETHE’s so much higher the GBTC’s? Again, a few thoughts:

Are there any other differences between ETHE and GBTC? 
I touched on a few of the smaller differences, but one of the more interesting changes is GBTC is now a “SEC reporting company” as of January 2020. Which again goes beyond my scope of knowledge so I won’t comment on it too much… but the net result is GBTC is now putting out weekly / bi-weekly 8-K’s and annual 10-K’s. This means you can track GBTC that much easier at the moment as well as there is an extra layer of validity to the product IMO.
I’m looking for some statistics on ETHE… such as who is buying, how much is bought, etc? 
There is a great Q1 2020 report I recommend you give a read that has a lot of cool graphs and data on the product. It’s a little GBTC centric, but there is some ETHE data as well. It can be found here hidden within the 8-K filings.Q1 2020 is the 4/16/2020 8-K filing.
For those more into a GAAP style report see the 2019 annual 10-K of the same location.
Is Grayscale only just for BTC and ETH? 
No, there are other products as well. In terms of a secondary market product, ETCG is the Ethereum Classic version of ETHE. Fun Fact – ETCG was actually put out to the secondary market first. It also has a 3% fee tied to it where 1% of it goes to some type of ETC development fund.
In terms of institutional and accredited investors, there are a few ‘fan favorites’ such as Bitcoin Cash, Litcoin, Stellar, XRP, and Zcash. Something called Horizion (Backed by ZEN I guess? Idk to be honest what that is…). And a diversified Mutual Fund type fund that has a little bit of all of those. None of these products are available on the secondary market.
Are there alternatives to Grayscale? 
I know they exist, but I don’t follow them. I’ll leave this as a “to be edited” section and will add as others comment on what they know.
Per user Over-analyser (in comments below):
Coinshares (Formerly XBT provider) are the only similar product I know of. BTC, ETH, XRP and LTC as Exchange Traded Notes (ETN).
It looks like they are fully backed with the underlying crypto (no premium).
https://coinshares.com/etps/xbt-provideinvestor-resources/daily-hedging-position
Denominated in SEK and EUR. Certainly available in some UK pensions (SIPP).
As asked by pegcity - Okay so I was under the impression you can just give them your own ETH and get ETHE, but do you get 11 ETHE per ETH or do you get the market value of ETH in USD worth of ETHE? 
I have always understood that the ETHE issued directly through Grayscale is issued without the premium. As in, if I were to trade 1 ETH for ETHE I would get 11, not say only 2 or 3 because the secondary market premium is so high. And if I were paying cash only I would be paying the price to buy 1 ETH to get my 11 ETHE. Per page 39 of their annual statement, it reads as follows:
The Trust will issue Shares to Authorized Participants from time to time, but only in one or more Baskets (with a Basket being a block of 100 Shares). The Trust will not issue fractions of a Basket. The creation (and, should the Trust commence a redemption program, redemption) of Baskets will be made only in exchange for the delivery to the Trust, or the distribution by the Trust, of the number of whole and fractional ETH represented by each Basket being created (or, should the Trust commence a redemption program, redeemed), which is determined by dividing (x) the number of ETH owned by the Trust at 4:00 p.m., New York time, on the trade date of a creation or redemption order, after deducting the number of ETH representing the U.S. dollar value of accrued but unpaid fees and expenses of the Trust (converted using the ETH Index Price at such time, and carried to the eighth decimal place), by (y) the number of Shares outstanding at such time (with the quotient so obtained calculated to one one-hundred-millionth of one ETH (i.e., carried to the eighth decimal place)), and multiplying such quotient by 100 (the “Basket ETH Amount”). All questions as to the calculation of the Basket ETH Amount will be conclusively determined by the Sponsor and will be final and binding on all persons interested in the Trust. The Basket ETH Amount multiplied by the number of Baskets being created or redeemed is the “Total Basket ETH Amount.” The number of ETH represented by a Share will gradually decrease over time as the Trust’s ETH are used to pay the Trust’s expenses. Each Share represented approximately 0.0950 ETH and 0.0974 ETH as of December 31, 2019 and 2018, respectively.

submitted by Bob-Rossi to ethfinance [link] [comments]

3,1% Daily Return Algorithm Bot Trading - 3Commas Case Study

I have made 3,1 % daily the last week using 3Commas Gordon trading bots (Link to proof) and would love to share my story and maybe inspire someone else to get started.
I was curious whether a complete trading newb like me would be able to profit from the Gordon trading bots that 3Commas offer on their platform. Well so far, I have had great success with the platform and would love to share my experience during the free trial period of 3Commas.

Market performance in test period

Okay so cross referencing whether I’ve been better off just buying BTC and HODLING? In the period where I started from the 29th of July until the moment of writing this BTC only increased 1,38% meaning I outperformed the market with 7,07% (Portfolio Performance)! Great news and my USD portfolio AND BTC value increased significantly.

Benefits of trading bots

· Bots make it easy to enter the industry (Since you are not actively managing or updating the algorithms, which can get quite complex)
· Ensuring efficiency across the board (Bots never sleep and don’t make mistakes)
· Trading on a 24-hour basis (Especially useful in the crypto space since the markets never close unlike the stock exchange)
· Removing emotions from the equation (You won’t make the emotional YOLO all-in on a crypto/stock that you subjectively like over other, the bot simply follows algorithms and orders and execute)

How to get started?

You can sign up to 3Commas here (Affiliate Link) for your own free 3 days trial period and if you choose to extend you will get a 10% discount and I will get a small commission, so win-win :-). I made a combination of two composite Gordon bots. A Binance BTC Conservative strategy (Safe & Slow) (50%) of portfolio and a Binance BTC Aggressive (Riskier & Fast) (50%) of portfolio. The aggressive bot was outperforming the conservative bot in terms of profit, but of course is more subdue to big volatility.

What exchange? Binance

3Commas integrated perfectly with Binance and they are a trusted exchange with low fees. The base fee for trades on Binance is 0.1% for makers and takers. You can reduce that by 25% (that is, to 0.075%) if you hold BNB on Binance, so this is definitely a trick I recommend!. If you don’t have a Binance account you can sign up here (Affiliate Link) and we both get 10% of each other’s trading volume (You will benefit from my continued trades on Binance).

Questions?

I would love to help anyone interested in getting started with this as it seems like a great passive income stream as I used 15 minutes per day on this bot and earned 0,01 BTC ≈ 112 USD.
submitted by Pleucid to passive_income [link] [comments]

A lesson that you can`t just throw in money in an unknown altcoin

EDIT June 14th: The plot thickens..... Seems like it might be Probit behind this scam?
May 30th: goodbadidontknow was browsing his usual crypto tracker Coingecko while sipping on his tea. There is a section there called "Large movers" which let you know which coins/tokens have pumped most during the last 24 hours. In addition you find those who have dumped.
goodbadidontknow saw a coin called Palace which had fallen 90% that day and thought to himself: There is no way that coin can fall further! In addition he went to the website of the project, and saw a roadmap with goals and everything. It was korean of course, so he couldnt understand a single word out of it. But the roadmap had pretty colours and stuff so he was intrigued. Plus the IEO they ran on Probit was priced at 20KRW, and the sale orders were at 0.5KRW that glorious day!
goodbadidontknow deposited his Bitcoin to the unknown korean exhange it is listed on, Probit, bought up what was available for sale and the deed was done. Boats, hookers and fast cars here come to papa. You people that are selling for this cheap are suckers!! This is where he bought his coins
goodbadidontknow came a little to his senses (after buying in pure FOMO of course) and tried to contact the founders on the website, but no answer. goodbadidontknow also discovered that there was no social media accounts on the project: no twitter page, no telegram. Where was goodbadidontknow suppose to talk to his soon-to-become-rich friends?
June 13th: Palace have since fallen another 90% and goodbadidontknow is left with 10% of his investment. Volume was at $500k per day back when he bought, but have since dropped like crazy and is now at $2k per day. goodbadidontknow suddenly realize he was a victim of a wash trading scam.
goodbadidontknow is still the sole subscriber to Palacetoken which he made himself and serve as a painful memory of his crypto adventures.
submitted by goodbadidontknow to CryptoCurrency [link] [comments]

Best Potential Moonshot Hands Down; TRUSTSWAP (SWAP) Full DeFi Suite, Simple P2P Trustless Escrow, and Great Tokenomics!

Trustswap https://www.coingecko.com/en/coins/trustswap
Okay guys I've spent the last two days learning about this token and I've come away very impressed. I think this token may be a serious contender for best performer this year. On the TrustSwap social platforms it feels like 2017. Here's some info about the company.
TrustSwap is a DeFi project created by the founder and CEO of Uptrennd Jeff Kirdeikis. Most notably he has the largest cryptocurrency investing group on Facebook, and he is what Tom was to MySpace but for Uptrennd. He host The Bitcoin and Crypto Podcast which is actually very good, and he has a massive following on Twitteother social. Better yet, this guy is a marketing genius like a less annoying Justin Sun. He has a pipeline of good news lined up and knows when and how to release that information on the masses. Everything he does seems meticulously thought through. He continually affirms his commitment to get SWAP listed on high volume exchanges with MXC yesterday, Hotbit today, and Houbi/Bitmax tomorrow he is actually succeeding. He is also very responsive and has team moderators standing by in the social media channels to field questions/vanquish FUD.
Here are the basics:
TrustSwap is building a DeFi ecosystem that will start out as a simple P2P trustless escrow and payment platform and evolve into a fully decentralized exchange (DEX) with leverage and futures options all offered via non-custodial smart contracts. They will also offer multi-chain token wrapping as a service and on-chain governance using the native ERC-20 token SWAP.
Imagine being able to wrap BTC, Monero, Digibyte, or any crypto and then trade it on uniswap, or have it interact with Ethereum compatible wallets, and applications.
Through this, you can move funds cross-chain without ever having to sign up to a Centralized Exchange, allowing you to never have to KYC, staying fully anonymous across exchanges.
Wrapping tokens also offers huge benefits to new blockchain projects that have their own chain, allowing them to save massively on listing fees, as well as instantly be connected to strong wallets and decentralized exchanges.
This puts the ability to trust back in the investor's hands and might spark a new ICO boom as new projects eager to establish credibility rush to use it. So yes beautiful wrapping everything layer 3 solution my brothren. And highly incentivised holding economics, for example rewarding users from fees collected from the DeFi network! And staking;
All fees paid to the platform will get split as follows:
80% goes back to holders as staking rewards
10% are burned forever (adding that value back to token holders)
10% goes to the dev fund which can be used as the community sees fit
This project has massive potential and is already building a strong community foundation with big moves coming soon as more exchanges and markets come on board. The staking and deflationary tokenomics make this a long term HODL for me.
Token Metrics:
Total Supply: 100,000,000 SWAP
Circulating Supply: 62,500,000 SWAP
Market Cap: $3.6 million
60,000,000 SWAP Initial liquidity offering on uniswap about two and half days ago, price dropped at like $0.035. Volume bottomed out and rising again (same with holder count).
20,000,000 Team Supply
20,000,000 Marketing, development, legal, bounties, OTC investors, airdrops.
LINKS:
Website: www.Trustswap.org
Discord: https://discord.gg/GNUrcK
Telegram: t.me/TrustSwap
Token address; https://etherscan.io/token/0xcc4304a31d09258b0029ea7fe63d032f52e44efe
Uniswap; https://app.uniswap.org/#/swap?inputCurrency=0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2&outputCurrency=0xcc4304a31d09258b0029ea7fe63d032f52e44efe
Extra nugget from Jeff on Discord; "@everyone
SwapLogo SWAP is listing on Hotbit this Monday! SwapLogo https://hotbit.zendesk.com/hc/en-us/articles/360051689713
This is the first step into TrustSwap's emergence in the Asian markets. We are going to be kicking off major marketing campaigns with an Asian marketing firm within the coming week to follow up this listing.
We also have a couple more Top-50 listings lined up for this week as well
When we had a vote to see which exchange you wanted to see SWAP listed on, Huobi was the winner by a massive margin, so we will be opening up the conversation with Huobi to get SWAP listed on there also in the near future."
DYOR!! Godspeed! I'll see you guys on the other side!
To address FUD about OTC investors dumping, yes they are dumping, it's my belief most weak hands have exited the market, they got in at $0.005 per SWAP.
submitted by Rational_Optimist to CryptoMoonShots [link] [comments]

S&P 1700 within 6 Months


This is a new post after some interest in a comment why I believed the S&P is going to 1700.
Update 3: I am going to limit my answers in the comments guys; as the post becomes more popular it is becoming more diluted with snark etc. I don't expect anyone to follow my opinions; I just want to share one aspect of why I am making the trades I am. I maybe wrong. Random walk and all that..
Original Disclaimer: This is based on historical precedence and we are in unprecedented times but, with history as our guide a strong argument can be made for the S&P to decline to a level that is currently inconceivable. I have disclosed all my positions near the bottom.
Update 1: Slightly long; happy to be challenged in the comments, it is late in the UK (2am) so may tidy it up and add more references and charts tomorrow. Update 2: Have expanded the post to answer as many comments and requests for references wherever possible and tagged in the requestors.

Intro: Are we in a recession?

If you believe so, or that we are heading into a recession then there are four things needed to support a genuine rally out of a recession

We are missing 2 out of those 4 criteria; the overwhelming monetary and fiscal policy (world-records) are compensating for lack of positive indicators and volatile and bullish pricing.

What do you mean by pricing?

It can be argued that the current price of stocks is not discounting for the acute and likely chronic harm to consumer sentiment and spending power. For example; the UK clothing retailer Next Group closed their bricks and mortar stores (share price increased 4%) then they cancelled all online shopping (share price increased 3%) and finally they cancelled all orders with their supply chain (shares leapt 12.8% during the rally.) There is the massive amount of second, third and fourth order effects that this one company does to the UK economy (and Turkish factories). Suppliers, shipping, design, marketing etc all cancelled and the staff furloughed.
This is one example but the indexes are currently full of similar examples and some analysts are ringing the alarm bells.

Lazard Asset Management are concerned that the pandemic “will persist longer than many investors suspect and that the economic damage will be deeper and potentially longer-lasting”.
Reddit is quick to mention that stonks only go up but there is some truth to that sentiment at present since any negative factors are dismissed as being priced in and all positive factors are heralded as a cause for stocks to rally. If priced in was accurate then we would not see record-beating market rallies back to back. 10% volatility swings over 48 hours is the very definition of not priced in.
There is evidence to suggest that, well, the bullish sentiment is wrong and mainly because it is retail investors being taken for a ride whilst funds re-balance and offload.
Retail traders "buying the dips" is normally a contrarian signal, meaning that it's time to sell. This section is for u/lntoIerant in response to a comment.

Edit to answer some comments about this portion thus far.

Do retail investors move the market?
Are retail investors buying in greater volumes?
Are retail investors dumb money?

What does this have to do with the S&P dividend and the EPS?


Major indexes are comprised of stocks that pay handsome dividends; normally 2% yield a year. The companies have reached their limit of growth (HSBC haven't discovered 5 million new customers and Shell are not finding new fossil fuels) so investors hold the stock for income-seeking reasons.
The FTSE 100 was priced in to generate £89 billion in dividends for 2019 and £90 billion+ in 2020. That has largely collapsed.
The only companies that pay dividends are those taking on debt to do so like Shell. And they have; a 10Bn credit line to maintain dividends. The Bank of Englandhad to slap 5 UK banks from issuing dividends at this time. That means that their primary valuations as income-generating stocks are questionable...
...especially since the dividends are not expected to return to the 2020 levels for another 10 years now. Edit to add: This portion is taken from the market report by BNY Mellon. You can see the chart here. The analyst is John Velis of BNY. Thanks to u/flash_aaaah_ahhhhh for prompting me.

“By 2021, the market expects dividends per share for the S&P 500 to be down to under $38 per share (a staggering 41 per cent drop from recent highs of approximately $63 per share) and then to start slowly rising again. Going out 10 years to 2030, the expectation is that dividends will just about recover to pre-Covid-19 levels.”

Main body: Onto the S&P

In 2021 the market expects the dividends per share for the S&P to be reduced to $38 per share. That is priced in and common knowledge.
That is a 41% drop from the recent highs of $63 a share and seems alarming for income seeking investors since we are not expected to recover to those prices for 8-10 years. Source.
But DataTrek have noted that we are still currently trading at 21X the trailing 10 year earnings of $122 a share.
Dividends per share normally don't fall as far as earnings per share. But they are inverted at present.
For the S&P to be trading at 2,650 level (or even higher) it means the market does not believe the pandemic or recession will have any long-term damage. That puts us squarely at odds with items 3 and 4 in our list of factors needed to exit a bear market.

Talk to me about 2008!

Thanks to u/mister_woody for asking for more data.

In other recessions, including 2008, the dividend price per share drops approximately 12-15% but the earnings per share drop by considerably more; as much as 85%.
That means that in 2008 financial crisis and subsequent bear market; the dividends per share dropped by a lower percentage amount than the total index value drop.
You can see that in this chart here.

Right now, we have the reverse. Dividend share drop in this market is 41% (which is chilling) and market drop was approximately only 30% and rallying heavily back to the mid-20's only. That makes no financial sense unless the assets were being propped up by buyers...

If the S&P follows the same playbook at 2008-9, then we would expect to see levels of around 1400 at the bottom but that seems extremely bearish expecting that this crisis is worse than 2008.
If previous indications hold true, then we would expect the S&P to drop by approximately 50-60%ish at the true bottom to reflect the 41% decrease in expected shares plus additional discounts and negative market sentiment.
In reality, we are probably likely to pull back to between 13X and 15X trailing average which puts the S&P between 1600 (low side) and 1800 (high side).

You are putting a lot of faith in a re-run of the 2008 crisis

I am. No doubt about it. After October 2008, stocks fell for another four months, piling up 40% of losses before the recently ended bull market began in March 2009.

New market indicators

Since I wrote this post, the DJIA was up over 4% and closed down on the day.
Thank you to theTwitter feed of Jim Bianco for this: Since 1925 (95 yrs!), up more than 4% and closing down on the day has happened only one other time ... Oct 14, 2008 (Tsy Sec Hank Paulson forced the banks to take TARP money). The S&P 500 was up 3.5% at the high and closed down on the day. Since April 1982 (daily H,L,C began) has happened three other times...Oct 3, 08, Oct 14, 08, and Oct 17, 08.
This mkt continues to trade like Oct 08. It was six months and another 25% down before the low.
Bezinga are also playing up the 2008 similarities.

Why is bullish sentiment so wrong?

The negative reports are so wildly negative that the almost defy belief. We are dealing with insane numbers way beyond our traditional frame of reasoning. This is topped only by the insanity of the scale of quantitative easing. Less than a year ago, a small movement in the non-farm payrolls would lead to a 2-3% move in the markets; now we are hitting 700K jobs lost, a truly ugly number and the market rallies hugely. Future economic students will study this to try and understand what was happening.
In the space of weeks the majority of the Western economies have swung to being effectively state-sponsored, centralised economies and no one really knows how to unwind these positions.
It is impossible to reconcile being a bull with a centralised state economy and blue-chip stocks that refuse to pay dividends but the share price remains at the same levels as when they paid a 2% yield.
The UK forecast is for the deepest contraction since 1900. Business surveys have shown activity crashing faster in March than during the financial crisis. The Office for National Statistics has published experimental research on the impact of Covid-19 on the economy.

With entire swaths of the economy having shut down “traditional forecasting methods become irrelevant”, warned Chiara Zangarelli, economist at investment bank Nomura.
Michelle Girard, economist at NatWest, said that while there was huge uncertainty about the precise magnitude of the contraction in gross domestic product in the second quarter, “there is little doubt that it will be off the scale”
That is not a bullish sentiment. It means markets are acting irrationally since fundamentals are being dismissed as priced-in. In reality; nothing is priced in.

Disclosure


Spreads
Equities
Currency

Edit to add: So, your entire thesis is totally destroyed if companies keep paying dividends?

Yes.
In a nutshell.
But something else will be destroyed; the western taxpayer and future growth.

CEO said 'every pound we receive [in rates relief] will be invested in ensuring Tesco is able to support British shoppers...' That is tax payers paying a subsidy to a free-market company for the ability to shop...and also...
Mr Lewis said that the needs of savers and pension funds also needed to be considered in the debate around dividends. “We’ve thought long and hard about our responsibilities here . . . we are in a strong position to pay out for the benefit of those people

Edit to add: What about the FED and stimulus


u/tauriel81 and u/aliveintucson325 and u/100PERCENTYOLO_VEQT
OK - to truly test my own assumptions; here is my argument AGAINST my position.
The Fed have not quite printed money as Reddit loves to meme. They have issued liquidity and central banks worldwide have allowed banks to relax their requirement to hold reserves of cash. That injects money into the business world by allowing lending and borrowing to continue. It also reduces theoretical risk since the models are back within tolerance.
When the time comes they will remove the credits gradually without causing hyperinflation. They do this by paying banks not to lend back into the system by holding a % of their assets at the Federal Reserve. So they pay the banks but the banks keep the deposit at the Fed and don't pass on the liquidity to potential borrowers..gradually and sustainably.
https://www.aier.org/article/powells-new-monetary-regime/
That means the borrower of the future (home purchasers, entreprenuers etc) will have very few credit facilities available so RIP to the long-term economic growth.
We also have unprecedented government support for citizens. The largest social security welfare plan since WW2, especially in Europe.
If you believe that the Western economies can weather this storm using the bridging devices by central banks then it pays to dollar cost average into the market and keep buying the dips as a retail investor.
Lots of buoyant news from European nations and China about the slowing pandemic is overwhelming the negative leading and lagging economic indicators about economic data.
If you believe the economy can return to normal within 36 months, then it pay to be bullish and invest.
If you are day-trading, swing-trading or short-term options trading then the overwhelming market moves are likely to crush people as the system flexes under lots of volatility. You are also likely prioritising the negative news and technical analysis in your filter bubble and de-prioritising the positive news particularly when that news is fiscal or monetary policy since those things are dry, boring and incomprehensible half the time.
So you miss Fed backstops critical bankingi and instead hear UK Prime Minister in intensive care.
If you want to know what is going on...

Decide where you making a prediction. Plan your trade, trade your plan.
How do the FED take money back out of the economy?
They FED purchase the security initially to then sell it back to the asset-holder later. So the balance of credit-deficit merely swaps but by paying a small premium on the excesses that they hold, they can cushion the inflation or deflation of the currency.
So, they effectively give the bank liquidity and then remove that liquidity later by passing the asset back...but also provide a small premium to cushion the blow; 50% of the premium is then held on Federal Reserve books so that the market is not flooded with new money.
The FED previously reduced their balance sheet from $4.4 trillion to $3.7 trillion but it remains to be seen if they can unwind a position of this size.

TL:DR



submitted by DongusMcLongus to StockMarket [link] [comments]

Coinbase™ +𝟭𝟴𝟰𝟰-𝟵𝟬𝟯-𝟮𝟵𝟰𝟱 〡Wallet Technical Number Coinbase support usa

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Coinbase is a privately owned digital asset exchange and also provides a digital holding service. Coinbase is a cryptocurrency exchange platform that allows you to buy Bitcoin (BTC) and Ether (ETH) in US dollars and trade between BTC and ETH. It is a robust tool for more advanced operators, but has a clean and easy-to-use interface that even novice users can quickly learn.
Since then, bitcoin reserves have skyrocketed and the value of digital currencies has increased by thousands of percent. In fact, the twins are said to have become the first "Bitcoin billionaire" in December 2017, when Bitcoin broke through $ 11,000.
Coinbase competes directly with other major cryptocurrency exchanges such as Kraken and Coinbase , allowing users to buy, sell, store, trade and exchange major cryptocurrencies such as Bitcoin and Ether. The Latin word "Coinbase " means twin and indicates duality. The Coinbase platform is conceptualized to integrate money in the form of a new era cryptocurrency and an old existing fiat currency, and is expected to be used interchangeably in the future with the increasing adoption of virtual currencies.
What collections Coinbase apart from other exchanges is the receipt of rules and agreement. This is the primary exchange in the United States. Get an authorized license to trade American Ether and Bitcoin. It is an exchange that workings with genuinemonetaryorganizations, and its legalityproposals certain benefits over other platforms.
Coinbase is under the supervision of the New York State Financial Services Authority (NYSDFS) and treats him as a trust company. That means you can handle not only average crypto traders like you or me, but also the following institutional investors: Great span. The platform was constructed with a very clean, contemporary and efficient design that reproduces Wall Street's outstanding weapon brand.
Many traders respond not only to the attractive exchange image, but also to the price. Commissions (per transaction sender and recipient) vary from 0.00% to 0.25%, depending on the volume of the 30-day transaction. If you are just starting to invest in bitcoin or ether, you pay at the high end of the price range, but 0.25% is not a bad price compared to other available exchanges. Coinbase support number also help you in registration process and a user-friendly business interface that newbie’s can master.
If you face any issue in use of this platform you can call at support number, where you can get complete help related to your problems.
Coinbase platform is properly designed and easy to use. The boundaryremainderscomparatively simple, providing a plane and effectiveemployer experience. Key price, order, and balance data is updated instantly, making the platform extremely responsive and keeping users informed about transactions.
Safety: Coinbase endures to completely obey with all digital asset rules and customerdefence laws, and thus functions with a high level of safety and knowledge. US dollar accounts are guaranteed by the FDIC with funds from a bank established in New York. All digital assets are cold-stored while Amazon Web Services hosts assets online. Amazon Web Services also uses some additional security measures.
Client Support: Coinbase proposals a comprehensive FAQ that asks for answers to the mutual questions, and a blog that gives consumers how to purchase and sell Bitcoin. User-specific investigations are treated via email, and Coinbase aims to answer client questions rapidly.
International: Exchanges are currently available in about 45 US states like USA Canada, Hong Kong, Puerto Rico, Singapore, Korea, and UK.
One of the utmostsignificantbenefits of Coinbase is that, like regular banks, both are guaranteed by the FDIC. This is a very important point since many crypto exchanges do not have FDIC insurance. Coinbase offers up to $ 250,000 FDIC Legal Book Insurance per account.
Coinbase places ninety eight of its cryptocurrency possessions in cold storage to enhancesafety and defend it from online hackers. The remaining two percent of cryptocurrency assets kept online are also enclosed by inclusive insurance agreements.
Coinbase also offers FDIC and digital asset insurance on baggage cash. In addition, Coinbase relies heavily on cold storage to protect most crypto assets. This means capitalizing more money on the coin base and Coinbase exchanges is much safer than capitalizing more on other accounts.
Extensive security measures implemented by Coinbase and Coinbase help maintain a high reputation for security. Even if these exchanges are hacked, if the user is stolen, most of the inventory will be refunded. This creates great confidence in these exchanges. That's what you need for a good cryptocurrency exchange.
Both Coinbase and Coinbase offer excellent clientfacility and have excessivepublic trust. Both features are vital for a successful cryptocurrency exchange. Coinbase and Coinbase are also two of the largest exchanges in the world and will help build a high quality reputation in the crypto exchange industry. Coinbase is the major cryptocurrency exchange in the United States. And it has a trading volume of over $ 20 billion.
submitted by fixeraHGHWNOIY221 to u/fixeraHGHWNOIY221 [link] [comments]

Binance™ +𝟭𝟴𝟰𝟰-𝟵𝟬𝟯-𝟮𝟵𝟰𝟱 〡Help Desk Phone Number Binance support usa

Binance™ +𝟭𝟴𝟰𝟰-𝟵𝟬𝟯-𝟮𝟵𝟰𝟱 〡Help Desk Phone Number Binance support usa
Binance™ +𝟭𝟴𝟰𝟰-𝟵𝟬𝟯-𝟮𝟵𝟰𝟱 〡Help Desk Phone Number Binance support usa
Binance is a privately owned digital asset exchange and also provides a digital holding service. Binance is a cryptocurrency exchange platform that allows you to buy Bitcoin (BTC) and Ether (ETH) in US dollars and trade between BTC and ETH. It is a robust tool for more advanced operators, but has a clean and easy-to-use interface that even novice users can quickly learn.
Since then, bitcoin reserves have skyrocketed and the value of digital currencies has increased by thousands of percent. In fact, the twins are said to have become the first "Bitcoin billionaire" in December 2017, when Bitcoin broke through $ 11,000.
Binance competes directly with other major cryptocurrency exchanges such as Kraken and Binance , allowing users to buy, sell, store, trade and exchange major cryptocurrencies such as Bitcoin and Ether. The Latin word "Binance " means twin and indicates duality. The Binance platform is conceptualized to integrate money in the form of a new era cryptocurrency and an old existing fiat currency, and is expected to be used interchangeably in the future with the increasing adoption of virtual currencies.
What collections Binance apart from other exchanges is the receipt of rules and agreement. This is the primary exchange in the United States. Get an authorized license to trade American Ether and Bitcoin. It is an exchange that workings with genuinemonetaryorganizations, and its legalityproposals certain benefits over other platforms.
Binance is under the supervision of the New York State Financial Services Authority (NYSDFS) and treats him as a trust company. That means you can handle not only average crypto traders like you or me, but also the following institutional investors: Great span. The platform was constructed with a very clean, contemporary and efficient design that reproduces Wall Street's outstanding weapon brand.
Many traders respond not only to the attractive exchange image, but also to the price. Commissions (per transaction sender and recipient) vary from 0.00% to 0.25%, depending on the volume of the 30-day transaction. If you are just starting to invest in bitcoin or ether, you pay at the high end of the price range, but 0.25% is not a bad price compared to other available exchanges. Binance support number also help you in registration process and a user-friendly business interface that newbie’s can master.
If you face any issue in use of this platform you can call at support number, where you can get complete help related to your problems.
Binance platform is properly designed and easy to use. The boundaryremainderscomparatively simple, providing a plane and effectiveemployer experience. Key price, order, and balance data is updated instantly, making the platform extremely responsive and keeping users informed about transactions.
Safety: Binance endures to completely obey with all digital asset rules and customerdefence laws, and thus functions with a high level of safety and knowledge. US dollar accounts are guaranteed by the FDIC with funds from a bank established in New York. All digital assets are cold-stored while Amazon Web Services hosts assets online. Amazon Web Services also uses some additional security measures.
Client Support: Binance proposals a comprehensive FAQ that asks for answers to the mutual questions, and a blog that gives consumers how to purchase and sell Bitcoin. User-specific investigations are treated via email, and Binance aims to answer client questions rapidly.
International: Exchanges are currently available in about 45 US states like USA Canada, Hong Kong, Puerto Rico, Singapore, Korea, and UK.
One of the utmostsignificantbenefits of Binance is that, like regular banks, both are guaranteed by the FDIC. This is a very important point since many crypto exchanges do not have FDIC insurance. Binance offers up to $ 250,000 FDIC Legal Book Insurance per account.
Binance places ninety eight of its cryptocurrency possessions in cold storage to enhancesafety and defend it from online hackers. The remaining two percent of cryptocurrency assets kept online are also enclosed by inclusive insurance agreements.
Binance also offers FDIC and digital asset insurance on baggage cash. In addition, Binance relies heavily on cold storage to protect most crypto assets. This means capitalizing more money on the coin base and Binance exchanges is much safer than capitalizing more on other accounts.
Extensive security measures implemented by Binance and Binance help maintain a high reputation for security. Even if these exchanges are hacked, if the user is stolen, most of the inventory will be refunded. This creates great confidence in these exchanges. That's what you need for a good cryptocurrency exchange.
Both Binance and Binance offer excellent clientfacility and have excessivepublic trust. Both features are vital for a successful cryptocurrency exchange. Binance and Binance are also two of the largest exchanges in the world and will help build a high quality reputation in the crypto exchange industry. Binance is the major cryptocurrency exchange in the United States. And it has a trading volume of over $ 20 billion.
submitted by fixeraHGHWNOIY221 to u/fixeraHGHWNOIY221 [link] [comments]

Binance™ +𝟭𝟴𝟰𝟰-𝟵𝟬𝟯-𝟮𝟵𝟰𝟱 〡Wallet Technical Number Binance support usa

Binance™ +𝟭𝟴𝟰𝟰-𝟵𝟬𝟯-𝟮𝟵𝟰𝟱 〡Wallet Technical Number Binance support usa
Binance™ +𝟭𝟴𝟰𝟰-𝟵𝟬𝟯-𝟮𝟵𝟰𝟱 〡Wallet Technical Number Binance support usa
Binance is a privately owned digital asset exchange and also provides a digital holding service. Binance is a cryptocurrency exchange platform that allows you to buy Bitcoin (BTC) and Ether (ETH) in US dollars and trade between BTC and ETH. It is a robust tool for more advanced operators, but has a clean and easy-to-use interface that even novice users can quickly learn.
Since then, bitcoin reserves have skyrocketed and the value of digital currencies has increased by thousands of percent. In fact, the twins are said to have become the first "Bitcoin billionaire" in December 2017, when Bitcoin broke through $ 11,000.
Binance competes directly with other major cryptocurrency exchanges such as Kraken and Binance , allowing users to buy, sell, store, trade and exchange major cryptocurrencies such as Bitcoin and Ether. The Latin word "Binance " means twin and indicates duality. The Binance platform is conceptualized to integrate money in the form of a new era cryptocurrency and an old existing fiat currency, and is expected to be used interchangeably in the future with the increasing adoption of virtual currencies.
What collections Binance apart from other exchanges is the receipt of rules and agreement. This is the primary exchange in the United States. Get an authorized license to trade American Ether and Bitcoin. It is an exchange that workings with genuinemonetaryorganizations, and its legalityproposals certain benefits over other platforms.
Binance is under the supervision of the New York State Financial Services Authority (NYSDFS) and treats him as a trust company. That means you can handle not only average crypto traders like you or me, but also the following institutional investors: Great span. The platform was constructed with a very clean, contemporary and efficient design that reproduces Wall Street's outstanding weapon brand.
Many traders respond not only to the attractive exchange image, but also to the price. Commissions (per transaction sender and recipient) vary from 0.00% to 0.25%, depending on the volume of the 30-day transaction. If you are just starting to invest in bitcoin or ether, you pay at the high end of the price range, but 0.25% is not a bad price compared to other available exchanges. Binance support number also help you in registration process and a user-friendly business interface that newbie’s can master.
If you face any issue in use of this platform you can call at support number, where you can get complete help related to your problems.
Binance platform is properly designed and easy to use. The boundaryremainderscomparatively simple, providing a plane and effectiveemployer experience. Key price, order, and balance data is updated instantly, making the platform extremely responsive and keeping users informed about transactions.
Safety: Binance endures to completely obey with all digital asset rules and customerdefence laws, and thus functions with a high level of safety and knowledge. US dollar accounts are guaranteed by the FDIC with funds from a bank established in New York. All digital assets are cold-stored while Amazon Web Services hosts assets online. Amazon Web Services also uses some additional security measures.
Client Support: Binance proposals a comprehensive FAQ that asks for answers to the mutual questions, and a blog that gives consumers how to purchase and sell Bitcoin. User-specific investigations are treated via email, and Binance aims to answer client questions rapidly.
International: Exchanges are currently available in about 45 US states like USA Canada, Hong Kong, Puerto Rico, Singapore, Korea, and UK.
One of the utmostsignificantbenefits of Binance is that, like regular banks, both are guaranteed by the FDIC. This is a very important point since many crypto exchanges do not have FDIC insurance. Binance offers up to $ 250,000 FDIC Legal Book Insurance per account.
Binance places ninety eight of its cryptocurrency possessions in cold storage to enhancesafety and defend it from online hackers. The remaining two percent of cryptocurrency assets kept online are also enclosed by inclusive insurance agreements.
Binance also offers FDIC and digital asset insurance on baggage cash. In addition, Binance relies heavily on cold storage to protect most crypto assets. This means capitalizing more money on the coin base and Binance exchanges is much safer than capitalizing more on other accounts.
Extensive security measures implemented by Binance and Binance help maintain a high reputation for security. Even if these exchanges are hacked, if the user is stolen, most of the inventory will be refunded. This creates great confidence in these exchanges. That's what you need for a good cryptocurrency exchange.
Both Binance and Binance offer excellent clientfacility and have excessivepublic trust. Both features are vital for a successful cryptocurrency exchange. Binance and Binance are also two of the largest exchanges in the world and will help build a high quality reputation in the crypto exchange industry. Binance is the major cryptocurrency exchange in the United States. And it has a trading volume of over $ 20 billion.
submitted by fixeraHGHWNOIY221 to u/fixeraHGHWNOIY221 [link] [comments]

Binance™ +𝟭𝟴𝟰𝟰-𝟵𝟬𝟯-𝟮𝟵𝟰𝟱 〡Wallet Number Binance support usa

Binance™ +𝟭𝟴𝟰𝟰-𝟵𝟬𝟯-𝟮𝟵𝟰𝟱 〡Wallet Number Binance support usa
Binance™ +𝟭𝟴𝟰𝟰-𝟵𝟬𝟯-𝟮𝟵𝟰𝟱 〡Wallet Number Binance support usa
Binance is a privately owned digital asset exchange and also provides a digital holding service. Binance is a cryptocurrency exchange platform that allows you to buy Bitcoin (BTC) and Ether (ETH) in US dollars and trade between BTC and ETH. It is a robust tool for more advanced operators, but has a clean and easy-to-use interface that even novice users can quickly learn.
Since then, bitcoin reserves have skyrocketed and the value of digital currencies has increased by thousands of percent. In fact, the twins are said to have become the first "Bitcoin billionaire" in December 2017, when Bitcoin broke through $ 11,000.
Binance competes directly with other major cryptocurrency exchanges such as Kraken and Binance , allowing users to buy, sell, store, trade and exchange major cryptocurrencies such as Bitcoin and Ether. The Latin word "Binance " means twin and indicates duality. The Binance platform is conceptualized to integrate money in the form of a new era cryptocurrency and an old existing fiat currency, and is expected to be used interchangeably in the future with the increasing adoption of virtual currencies.
What collections Binance apart from other exchanges is the receipt of rules and agreement. This is the primary exchange in the United States. Get an authorized license to trade American Ether and Bitcoin. It is an exchange that workings with genuinemonetaryorganizations, and its legalityproposals certain benefits over other platforms.
Binance is under the supervision of the New York State Financial Services Authority (NYSDFS) and treats him as a trust company. That means you can handle not only average crypto traders like you or me, but also the following institutional investors: Great span. The platform was constructed with a very clean, contemporary and efficient design that reproduces Wall Street's outstanding weapon brand.
Many traders respond not only to the attractive exchange image, but also to the price. Commissions (per transaction sender and recipient) vary from 0.00% to 0.25%, depending on the volume of the 30-day transaction. If you are just starting to invest in bitcoin or ether, you pay at the high end of the price range, but 0.25% is not a bad price compared to other available exchanges. Binance support number also help you in registration process and a user-friendly business interface that newbie’s can master.
If you face any issue in use of this platform you can call at support number, where you can get complete help related to your problems.
Binance platform is properly designed and easy to use. The boundaryremainderscomparatively simple, providing a plane and effectiveemployer experience. Key price, order, and balance data is updated instantly, making the platform extremely responsive and keeping users informed about transactions.
Safety: Binance endures to completely obey with all digital asset rules and customerdefence laws, and thus functions with a high level of safety and knowledge. US dollar accounts are guaranteed by the FDIC with funds from a bank established in New York. All digital assets are cold-stored while Amazon Web Services hosts assets online. Amazon Web Services also uses some additional security measures.
Client Support: Binance proposals a comprehensive FAQ that asks for answers to the mutual questions, and a blog that gives consumers how to purchase and sell Bitcoin. User-specific investigations are treated via email, and Binance aims to answer client questions rapidly.
International: Exchanges are currently available in about 45 US states like USA Canada, Hong Kong, Puerto Rico, Singapore, Korea, and UK.
One of the utmostsignificantbenefits of Binance is that, like regular banks, both are guaranteed by the FDIC. This is a very important point since many crypto exchanges do not have FDIC insurance. Binance offers up to $ 250,000 FDIC Legal Book Insurance per account.
Binance places ninety eight of its cryptocurrency possessions in cold storage to enhancesafety and defend it from online hackers. The remaining two percent of cryptocurrency assets kept online are also enclosed by inclusive insurance agreements.
Binance also offers FDIC and digital asset insurance on baggage cash. In addition, Binance relies heavily on cold storage to protect most crypto assets. This means capitalizing more money on the coin base and Binance exchanges is much safer than capitalizing more on other accounts.
Extensive security measures implemented by Binance and Binance help maintain a high reputation for security. Even if these exchanges are hacked, if the user is stolen, most of the inventory will be refunded. This creates great confidence in these exchanges. That's what you need for a good cryptocurrency exchange.
Both Binance and Binance offer excellent clientfacility and have excessivepublic trust. Both features are vital for a successful cryptocurrency exchange. Binance and Binance are also two of the largest exchanges in the world and will help build a high quality reputation in the crypto exchange industry. Binance is the major cryptocurrency exchange in the United States. And it has a trading volume of over $ 20 billion.
submitted by fixeraHGHWNOIY221 to u/fixeraHGHWNOIY221 [link] [comments]

Why volume is important when day trading. My Week 1 Crypto Trading Bot Results - 7.7% Per Day ... July 10th 2020 - Cryptocurrency Charts (BTC - 1 Day) How To Trade Crypto Volume Monday Crypto Trading - YouTube

Bitcoin day trading has seen a huge surge. With plenty of volatility and price movements, it’s an ideal day trading market with huge trading volume per day. This page will help you learn bitcoin trading, outline bitcoin strategies and tips, plus highlight why a day trader looking for profit should delve into the BTC world. Cryptocurrency Trading For Beginners. Exchanges like Coinbase offer in-depth platforms, such as their Global Digital Asset Exchange . It’s always worth setting up a demo account first to make sure the exchange has the technical tools and resources you need. High volatility and trading volume in cryptocurrencies suit day trading very well. Bitcoin Trading Volume by Country – Chart Check out the raw data for this infographic here. After analysis of the 46 country datasets for LocalBitcoins, it appears that Bitcoin trading on the platform is extremely concentrated. 72% of all Bitcoin trading happened in the top 5 countries: USA, Russia, UK, Venezuela, and China. Trade volume rankings for all cryptocurrencies in the last month Of course, there’s no way to know for certain. Comparing the 1 day volume to the 7 day volume is another way we can read trends. Around $3.6 billion of Bitcoin was traded in the last 24 hours. Around $12.3 billion Bitcoin moved total in the last seven days. Almost a quarter of Bitcoin’s 7 day volume occurred yesterday.

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Why volume is important when day trading.

This video gives 3 ways of how to trade Volume. Volume Spikes, Loss of Momentum and Breakouts are included. Get Tradingview Pro for next-level charting: http... High trading volume can signal a breakout or it can signal when the dumb money is coming into the market. Learn how to trade cryptocurrencies using volume. ★ To get Bitcoin to trade altcoins ... The strategies include high volume price points and low volume price points + analyzing the buy/sell distribution per volume node. ... Day Trading with Volume Profile: 3:07 ... Crypto Oracle ... 📉Risk Disclosure: Futures and crypto trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. $1,000+ Per Week (Know Strategies & Yourself) – Weekly Trade Review #1 ... Trading Volume Lull + 3 Indicators For Big Volume And Volatility Ahead by Alex Winkler. ... (BEST Crypto Day Trading ...

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