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I bought $1k of the Top 10 Cryptos on January 1st, 2020 (Sept Update)

I bought $1k of the Top 10 Cryptos on January 1st, 2020 (Sept Update)

EXPERIMENT - Tracking Top 10 Cryptos of 2020 - Month Nine - UP +56%
See the full blog post with all the tables here.
tl;dr
  • I thought I'd mix it up and start with the 2020 Top Ten first this month.
  • Rough month, but still way up in 2020, and still way ahead of the stock market.
  • I purchased $100 of each of Top Ten Cryptos in Jan. 2020, haven't sold or traded. Did the same in 2018 and 2019. Learn more about the history and rules of the Experiments here.
  • Sept - down month for 2020 Top Ten, except for BNB, which crushed it (+25%)
  • Overall since Jan. 2020 - ETH in the lead (+187%), BNB in distant second place. 100% of 2020 Top Ten are in positive territory and have a combined ROI of +56% vs. +5% of the S&P
  • Combining all three three years, Top Ten cryptos underperforming S&P if I'd taken a similar approach.

Month Nine – UP 56%

2020 Top Ten Overview
After a rough start to the month, most of crypto had a Wake Me Up When September Ends moment. For the 2020 Top Ten Portfolio, it was bad, but could have been (as has been) much worse: it was the best performing of the Top Ten “Index Fund” Experiments in September and at least one of the cryptos (BNB up +25%) had a great month.

Question of the month:

In September, this decentralized exchange (DEX) overtook Coinbase in trading volume:

A) UniswapB) AaveC) CompoundD) Both A and B
Scroll down for the answer.

Ranking and September Winners and Losers

2020 Top 10 Rank
Lots of movement this month: six out of the Top Ten changed positions in September. BCH climbed one from #6 to #5 and BNB made a big move from #10 to #6. Going the opposite direction were BSV, EOS, and Tezos, dropping one, two, and four places respectively.
The big story though, at least for anyone who’s been watching crypto for a while, was the ejection of Litecoin from the Top Ten. In just 30 days, LTC fell five places from #7 to #12. For some context, Litecoin’s absence from the Top Ten is a Top Ten Experiment first. It is also the first time since CoinMarketCap has tracked crypto rankings that Litecoin has not has not held a spot in the Top Ten.
Drop outs: after nine months of the experiment, 30% of the cryptos that started 2020 in the Top Ten have dropped out. LTC, EOS, and Tezos have been replaced by ADA, LINK, and most recently, DOT.
September Winners – Winner, singular: BNB was the only crypto to finish in the green, finished up +25% for the month, and gained four places in the rankings. A very good month for Binance Coin.
September LosersTezos was the worst performing crypto of the 2020 Top Ten portfolio, losing nearly a third of its value, down -31% for the month. LTC also had a bad month, losing -24% and dropping out of the Top Ten.
Since COVID-19 has hammered the sporting world, let’s be overly competitive and pit these cryptos against each other, shall we? Here’s a table showing which cryptos have the most monthly wins and losses nine months into the 2020 Top Ten Crypto Index Fund Experiment:

Wins/Losses
ETH is in the lead three monthly Ws, followed by Tether and Tezos with two wins each. Even though it is up +79% since January 1st, 2020, BSV has the most monthly losses: it has been the worst performing crypto of the group four out of the first nine months in 2020.

Overall update – ETH maintains strong lead, followed by BNB. 100% of Top Ten are in positive territory.

Ethereum remains firmly in the lead, up +187% on the year. Thanks to a strong month for BNB and a weak month for Tezos, Binance Coin has overtaken XTZ for second place, and is now up +109% in 2020.
Discounting Tether (no offense Big-T), EOS (+4%) is the worst performing cryptocurrency of the 2020 Top Ten Portfolio. 100% of the cryptos in this group are in positive territory.

Total Market Cap for the cryptocurrency sector:

The overall crypto market lost about $35B in September, ending the month up +85% since the beginning of this year’s experiment in January 2020. Despite a rough month, this is the second highest month-end level since the 2020 Top Ten Experiment started nine months ago.

Bitcoin dominance:


Monthly BitDom - 2020
BitDom ticked up slightly this month, but is still lower than it has been for most of the year. As always, a low BitDom reflects a greater appetite for altcoins. For context, the BitDom range since the beginning of the experiment in January 2020 has been roughly between 57% and 68%.

Overall return on investment since January 1st, 2020:

After an initial $1000 investment on January 1st, the 2020 Top Ten Portfolio is now worth $1,536, up +56%. This is the best performing of the three Top Ten Crypto Index Fund Portfolios, but not by much: the 2019 Top Ten came in at +54% in September.
Here’s the month by month ROI of the 2020 Top Ten Experiment, hopefully helpful to maintain perspective and provide an overview as we go along:
Monthly ROI - 2020 Top Ten
Even during the zombie apocalypse blip in March, the 2020 Top Ten has managed to end every month so far in the green (for a mirror image, check out the all red table you’ll find in the 2018 experiment). The range of monthly ROI for the 2020 Top Ten has been between a low of +7% in March and high of +83% in August.
So, how does the 2020 Top Ten Experiment compare to the parallel projects?
Taken together, here’s the bottom bottom bottom line for the three portfolios:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, the combined portfolios are worth $‭3,340‬ ($238+ $1,538 +$1,564).
That’s up about +11% for the three combined portfolios, compared to +31% last month.
Here’s a table to help visualize the progress of the combined portfolios:
Combined ROI - UP +11%
That’s a +11% gain by buying $1k of the cryptos that happened to be in the Top Ten on January 1st, 2018, 2019, and 2020.
But what if I’d gone all in on only one Top Ten crypto for the past three years? While many have come and gone over the life of the experiment, five cryptos have started in Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC (Big L, no pressure, but if you don’t claw yourself back in the Top Ten by January 2021, you’re out of the club). Let’s take a look:

Three Year Club
At this point in the Experiments, Ethereum (+104%) would have easily returned the most, followed by BTC (+77%). On the other hand, following this approach with XRP, I would have been down nearly a third at -31%.
So that’s the Top Ten Crypto Index Fund Experiments snapshot. Let’s take a look at how traditional markets are doing.

Comparison to S&P 500

I’m also tracking the S&P 500 as part of my experiment to have a comparison point to traditional markets. The S&P slipped a bit from an all time high in August and is now up just +5% in 2020.
Over the same time period, the 2020 Top Ten Crypto Portfolio is returning about +56%. The initial $1k investment in crypto is now worth about $1,563. That same $1k I put into crypto in January 2020 would be worth $1050 had it been redirected to the S&P 500 instead. That’s a $513 difference on a $1k investment, one of the largest gaps in favor of crypto all year.
But that’s just 2020. What about in the longer term? What if I invested in the S&P 500 the same way I did during the first three years of the Top Ten Crypto Index Fund Experiments? What I like to call the world’s slowest dollar cost averaging method? Here are the figures:
  • $1000 investment in S&P 500 on January 1st, 2018 = $1260 today
  • $1000 investment in S&P 500 on January 1st, 2019 = $1350 today
  • $1000 investment in S&P 500 on January 1st, 2020 = $1050 today
So, taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,660.
That $3,660 is up +22% since January 2018, compared to a +11% gain of the combined Top Ten Crypto Experiment Portfolios over the same period of time.
That’s an 11% swing in favor of the S&P 500 and breaks a two month mini-streak of wins from the Top Ten crypto portfolios.
For those keeping track or unable to see the table above: that’s seven monthly victories for the S&P vs. two monthly victories for crypto. The largest gap so far was a 22% difference in favor of the S&P back in June.

Conclusion:

September saw losses for both traditional and crypto markets, but crypto got hit harder. What can we expect for the rest of 2020? The Neverending Year is entering the final quarter and is not finished with us yet: a lot can and will happen in the remaining months. More volatility is no doubt to come as we enter the final stretch of a truly unpredictable and exhausting year. Buckle up.
Stay healthy and take care of yourselves out there.
Thanks for reading and for supporting the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for the original 2018 Top Ten Crypto Index Fund Experiment and the 2019 Top Ten Experiment follow up experiment.

And the Answer is…

A) Uniswap
As part of the DeFi/DEX wave, in late August/early September, Uniswap surpassed Coinbase in trading volume.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

℀ ₦ 𝟏𝟖𝟓𝟓* 𝟗𝟒𝟓*𝟑𝟏𝟔𝟔 ₦ Coinbase Customer Support Number || # COINBASE # 2020 #^&*

℀ ₦ 𝟏𝟖𝟓𝟓* 𝟗𝟒𝟓*𝟑𝟏𝟔𝟔 ₦ Coinbase Customer Support Number || # COINBASE # 2020 #^&*
℀ ₦ 𝟏𝟖𝟓𝟓* 𝟗𝟒𝟓*𝟑𝟏𝟔𝟔 ₦ Coinbase Customer Support Number || # COINBASE # 2020 #^&*
℀ ₦ 𝟏𝟖𝟓𝟓* 𝟗𝟒𝟓*𝟑𝟏𝟔𝟔 ₦ Coinbase Customer Support Number || # COINBASE # 2020 #^&*
Digital money trade Coinbase Inc. is entering the loaning market with a possibility for some U.S. clients to obtain cash against their bitcoin possessions.
The credits will permit clients to acquire as much as 30% in real money against their bitcoin property on the trade, up to $20,000 per client. Enthusiasm on the advances will be accused at 8% of terms of one year or less. Qualified clients won't have to round out a long application or go through credit checks and can join with a couple of taps to get money inside a few days.
Coinbase is pitching the administration as an option in contrast to conventional high-intrigue individual advances. "We get with clients that they need money for costs like home redesigns or vehicle fixes, yet they would prefer not to rashly sell their crypto or take out high-premium advances that could accompany 20%+ APR," Coinbase Product Manager Thorsten Jaeckel said in a blog entry today. "With portfolio-upheld credits on Coinbase, clients can acquire money rapidly from their Coinbase accounts."
As indicated by Coindesk, Coinbase won't reinvest the guarantee somewhere else and will keep the bitcoin at the trade, dissimilar to some crypto loan specialists that utilization the insurance for speculation openings.
The administration is at present accessible to clients in Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin and Wyoming, states in which Coinbase has a permit to give a loaning administration. The organization is seeking after licenses in different states to extend the administration later on.
The declaration comes as theory keeps on mounting that Coinbase is getting ready for a first sale of stock not long from now or ahead of schedule one year from now. The main report came in July with additional hypothesis in the most recent week.
The way Coinbase may take in opening up to the world stays open to hypothesis. Louis Lehot, author of L2 Counsel, disclosed to Bloomberg Law Aug. 11 that given the organization's valuation, an immediate posting unveils more sense than a customary contribution.
Picture: Coinbase
Since you're here …
Show your help for our central goal with our a single tick membership to our YouTube channel (underneath). The more endorsers we have, the more YouTube will recommend applicable undertaking and rising innovation substance to you. Much obliged!
Cryptographic money dealer and examiner John Rager did a survey on Twitter, asking his 73,000 adherents: "OK really erase or quit utilizing your Coinbase account?"
More than 5,000 individuals reacted, and 66% said they would quit the directed trade, one of the world's greatest. The staying 33% communicated a readiness to remain. The stage holds a great many individual client data drawn from rigid know-your-client necessities, in consistence with US arrangements.
Coinbase is in the eye of a tempest after reports rose at the end of the week charging that the crypto trade is selling a coinbase instrument that furnishes law authorization offices with prevalent diagnostic abilities.
The Drug Enforcement Agency (DEA) and the Internal Revenue Service (IRS) mean to purchase licenses from the trade's investigation unit called Coinbase Analytics, as indicated by reports that are accessible for public survey.
In one of the reports distributed in April, the IRS brings up the connection between Coinbase Analytics and Neutrino, a coinbase reconnaissance stage questionably obtained by Coinbase in 2019. It says the auxiliary "takes into consideration the investigation and following of digital money streams over various coinbases that lawbreakers are right now utilizing."
The IRS included: "Coinbase Analytics likewise gives some upgraded law implementation delicate capacities that are not at present found in different apparatuses available. This activity will bring about a Firm Fix Priced buy request, Period of Performance: One base year from date of grant with one year choice.
submitted by Maleficent_Annual_27 to u/Maleficent_Annual_27 [link] [comments]

blockchain support number ∰ 1+855 *^945 +3166 ∰@ ( COVID === 19 & ( NXT TAKE OVER ))

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Digital money trade Blockchain Inc. is entering the loaning market with a possibility for some U.S. clients to obtain cash against their bitcoin possessions.
The credits will permit clients to acquire as much as 30% in real money against their bitcoin property on the trade, up to $20,000 per client. Enthusiasm on the advances will be accused at 8% of terms of one year or less. Qualified clients won't have to round out a long application or go through credit checks and can join with a couple of taps to get money inside a few days.
Blockchain is pitching the administration as an option in contrast to conventional high-intrigue individual advances. "We get with clients that they need money for costs like home redesigns or vehicle fixes, yet they would prefer not to rashly sell their crypto or take out high-premium advances that could accompany 20%+ APR," Blockchain Product Manager Thorsten Jaeckel said in a blog entry today. "With portfolio-upheld credits on Blockchain, clients can acquire money rapidly from their Blockchain accounts."
As indicated by Coindesk, Blockchain won't reinvest the guarantee somewhere else and will keep the bitcoin at the trade, dissimilar to some crypto loan specialists that utilization the insurance for speculation openings.
The administration is at present accessible to clients in Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin and Wyoming, states in which Blockchain has a permit to give a loaning administration. The organization is seeking after licenses in different states to extend the administration later on.
The declaration comes as theory keeps on mounting that Blockchain is getting ready for a first sale of stock not long from now or ahead of schedule one year from now. The main report came in July with additional hypothesis in the most recent week.
The way Blockchain may take in opening up to the world stays open to hypothesis. Louis Lehot, author of L2 Counsel, disclosed to Bloomberg Law Aug. 11 that given the organization's valuation, an immediate posting unveils more sense than a customary contribution.
Picture: Blockchain
Since you're here …
Show your help for our central goal with our a single tick membership to our YouTube channel (underneath). The more endorsers we have, the more YouTube will recommend applicable undertaking and rising innovation substance to you. Much obliged!
Cryptographic money dealer and examiner John Rager did a survey on Twitter, asking his 73,000 adherents: "OK really erase or quit utilizing your Blockchain account?"
More than 5,000 individuals reacted, and 66% said they would quit the directed trade, one of the world's greatest. The staying 33% communicated a readiness to remain. The stage holds a great many individual client data drawn from rigid know-your-client necessities, in consistence with US arrangements.
Blockchain is in the eye of a tempest after reports rose at the end of the week charging that the crypto trade is selling a blockchain instrument that furnishes law authorization offices with prevalent diagnostic abilities.
The Drug Enforcement Agency (DEA) and the Internal Revenue Service (IRS) mean to purchase licenses from the trade's investigation unit called Blockchain Analytics, as indicated by reports that are accessible for public survey.
In one of the reports distributed in April, the IRS brings up the connection between Blockchain Analytics and Neutrino, a blockchain reconnaissance stage questionably obtained by Blockchain in 2019. It says the auxiliary "takes into consideration the investigation and following of digital money streams over various blockchains that lawbreakers are right now utilizing."
The IRS included: "Blockchain Analytics likewise gives some upgraded law implementation delicate capacities that are not at present found in different apparatuses available. This activity will bring about a Firm Fix Priced buy request, Period of Performance: One base year from date of grant with one year choice.
submitted by No_Celebration_9927 to u/No_Celebration_9927 [link] [comments]

coinbase +☎+☎𝟖̳𝟓̳𝟓̳-̳𝟗̳𝟒̳𝟓̳-̳𝟑̳𝟏̳𝟔̳𝟔̳☎☎ Support Number ∰ CoiNbAsE ComplaInt NumbeR USA

coinbase +☎+☎𝟖̳𝟓̳𝟓̳-̳𝟗̳𝟒̳𝟓̳-̳𝟑̳𝟏̳𝟔̳𝟔̳☎☎ Support Number ∰ CoiNbAsE ComplaInt NumbeR USA
coinbase +☎+☎𝟖̳𝟓̳𝟓̳-̳𝟗̳𝟒̳𝟓̳-̳𝟑̳𝟏̳𝟔̳𝟔̳☎☎ Support Number ∰ CoiNbAsE ComplaInt NumbeR USA
Digital money trade Coinbase Inc. is entering the loaning market with a possibility for some U.S. clients to obtain cash against their bitcoin possessions.
The credits will permit clients to acquire as much as 30% in real money against their bitcoin property on the trade, up to $20,000 per client. Enthusiasm on the advances will be accused at 8% of terms of one year or less. Qualified clients won't have to round out a long application or go through credit checks and can join with a couple of taps to get money inside a few days.
Coinbase is pitching the administration as an option in contrast to conventional high-intrigue individual advances. "We get with clients that they need money for costs like home redesigns or vehicle fixes, yet they would prefer not to rashly sell their crypto or take out high-premium advances that could accompany 20%+ APR," Coinbase Product Manager Thorsten Jaeckel said in a blog entry today. "With portfolio-upheld credits on Coinbase, clients can acquire money rapidly from their Coinbase accounts."
As indicated by Coindesk, Coinbase won't reinvest the guarantee somewhere else and will keep the bitcoin at the trade, dissimilar to some crypto loan specialists that utilization the insurance for speculation openings.
The administration is at present accessible to clients in Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin and Wyoming, states in which Coinbase has a permit to give a loaning administration. The organization is seeking after licenses in different states to extend the administration later on.
The declaration comes as theory keeps on mounting that Coinbase is getting ready for a first sale of stock not long from now or ahead of schedule one year from now. The main report came in July with additional hypothesis in the most recent week.
The way Coinbase may take in opening up to the world stays open to hypothesis. Louis Lehot, author of L2 Counsel, disclosed to Bloomberg Law Aug. 11 that given the organization's valuation, an immediate posting unveils more sense than a customary contribution.
Picture: Coinbase
Since you're here …
Show your help for our central goal with our a single tick membership to our YouTube channel (underneath). The more endorsers we have, the more YouTube will recommend applicable undertaking and rising innovation substance to you. Much obliged!
Cryptographic money dealer and examiner John Rager did a survey on Twitter, asking his 73,000 adherents: "OK really erase or quit utilizing your Coinbase account?"
More than 5,000 individuals reacted, and 66% said they would quit the directed trade, one of the world's greatest. The staying 33% communicated a readiness to remain. The stage holds a great many individual client data drawn from rigid know-your-client necessities, in consistence with US arrangements.
Coinbase is in the eye of a tempest after reports rose at the end of the week charging that the crypto trade is selling a blockchain instrument that furnishes law authorization offices with prevalent diagnostic abilities.
The Drug Enforcement Agency (DEA) and the Internal Revenue Service (IRS) mean to purchase licenses from the trade's investigation unit called Coinbase Analytics, as indicated by reports that are accessible for public survey.
In one of the reports distributed in April, the IRS brings up the connection between Coinbase Analytics and Neutrino, a blockchain reconnaissance stage questionably obtained by Coinbase in 2019. It says the auxiliary "takes into consideration the investigation and following of digital money streams over various blockchains that lawbreakers are right now utilizing."
The IRS included: "Coinbase Analytics likewise gives some upgraded law implementation delicate capacities that are not at present found in different apparatuses available. This activity will bring about a Firm Fix Priced buy request, Period of Performance: One base year from date of grant with one year choice.
submitted by No_Process9048 to u/No_Process9048 [link] [comments]

℀ ₦ 𝟏𝟖𝟓𝟓*𝟗𝟒𝟓*𝟑𝟏𝟔𝟔 ₦ Coinbase Customer Care Number || # COINBASE # 2020 #^&*

℀ ₦ 𝟏𝟖𝟓𝟓*𝟗𝟒𝟓*𝟑𝟏𝟔𝟔 ₦ Coinbase Customer Care Number || # COINBASE # 2020 #^&*
℀ ₦ 𝟏𝟖𝟓𝟓*𝟗𝟒𝟓*𝟑𝟏𝟔𝟔 ₦ Coinbase Customer Care Number || # COINBASE # 2020 #^&*
℀ ₦ 𝟏𝟖𝟓𝟓*𝟗𝟒𝟓*𝟑𝟏𝟔𝟔 ₦ Coinbase Customer Care Number || # COINBASE # 2020 #^&*
Digital money trade Coinbase Inc. is entering the loaning market with a possibility for some U.S. clients to obtain cash against their bitcoin possessions.
The credits will permit clients to acquire as much as 30% in real money against their bitcoin property on the trade, up to $20,000 per client. Enthusiasm on the advances will be accused at 8% of terms of one year or less. Qualified clients won't have to round out a long application or go through credit checks and can join with a couple of taps to get money inside a few days.
Coinbase is pitching the administration as an option in contrast to conventional high-intrigue individual advances. "We get with clients that they need money for costs like home redesigns or vehicle fixes, yet they would prefer not to rashly sell their crypto or take out high-premium advances that could accompany 20%+ APR," Coinbase Product Manager Thorsten Jaeckel said in a blog entry today. "With portfolio-upheld credits on Coinbase, clients can acquire money rapidly from their Coinbase accounts."
As indicated by Coindesk, Coinbase won't reinvest the guarantee somewhere else and will keep the bitcoin at the trade, dissimilar to some crypto loan specialists that utilization the insurance for speculation openings.
The administration is at present accessible to clients in Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin and Wyoming, states in which Coinbase has a permit to give a loaning administration. The organization is seeking after licenses in different states to extend the administration later on.
The declaration comes as theory keeps on mounting that Coinbase is getting ready for a first sale of stock not long from now or ahead of schedule one year from now. The main report came in July with additional hypothesis in the most recent week.
The way Coinbase may take in opening up to the world stays open to hypothesis. Louis Lehot, author of L2 Counsel, disclosed to Bloomberg Law Aug. 11 that given the organization's valuation, an immediate posting unveils more sense than a customary contribution.
Picture: Coinbase
Since you're here …
Show your help for our central goal with our a single tick membership to our YouTube channel (underneath). The more endorsers we have, the more YouTube will recommend applicable undertaking and rising innovation substance to you. Much obliged!
Cryptographic money dealer and examiner John Rager did a survey on Twitter, asking his 73,000 adherents: "OK really erase or quit utilizing your Coinbase account?"
More than 5,000 individuals reacted, and 66% said they would quit the directed trade, one of the world's greatest. The staying 33% communicated a readiness to remain. The stage holds a great many individual client data drawn from rigid know-your-client necessities, in consistence with US arrangements.
Coinbase is in the eye of a tempest after reports rose at the end of the week charging that the crypto trade is selling a coinbase instrument that furnishes law authorization offices with prevalent diagnostic abilities.
The Drug Enforcement Agency (DEA) and the Internal Revenue Service (IRS) mean to purchase licenses from the trade's investigation unit called Coinbase Analytics, as indicated by reports that are accessible for public survey.
In one of the reports distributed in April, the IRS brings up the connection between Coinbase Analytics and Neutrino, a coinbase reconnaissance stage questionably obtained by Coinbase in 2019. It says the auxiliary "takes into consideration the investigation and following of digital money streams over various coinbases that lawbreakers are right now utilizing."
The IRS included: "Coinbase Analytics likewise gives some upgraded law implementation delicate capacities that are not at present found in different apparatuses available. This activity will bring about a Firm Fix Priced buy request, Period of Performance: One base year from date of grant with one year choice.
submitted by Jumpy_Ear9828 to u/Jumpy_Ear9828 [link] [comments]

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Digital money trade Blockchain Inc. is entering the loaning market with a possibility for some U.S. clients to obtain cash against their bitcoin possessions.
The credits will permit clients to acquire as much as 30% in real money against their bitcoin property on the trade, up to $20,000 per client. Enthusiasm on the advances will be accused at 8% of terms of one year or less. Qualified clients won't have to round out a long application or go through credit checks and can join with a couple of taps to get money inside a few days.
Blockchain is pitching the administration as an option in contrast to conventional high-intrigue individual advances. "We get with clients that they need money for costs like home redesigns or vehicle fixes, yet they would prefer not to rashly sell their crypto or take out high-premium advances that could accompany 20%+ APR," Blockchain Product Manager Thorsten Jaeckel said in a blog entry today. "With portfolio-upheld credits on Blockchain, clients can acquire money rapidly from their Blockchain accounts."
As indicated by Coindesk, Blockchain won't reinvest the guarantee somewhere else and will keep the bitcoin at the trade, dissimilar to some crypto loan specialists that utilization the insurance for speculation openings.
The administration is at present accessible to clients in Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin and Wyoming, states in which Blockchain has a permit to give a loaning administration. The organization is seeking after licenses in different states to extend the administration later on.
The declaration comes as theory keeps on mounting that Blockchain is getting ready for a first sale of stock not long from now or ahead of schedule one year from now. The main report came in July with additional hypothesis in the most recent week.
The way Blockchain may take in opening up to the world stays open to hypothesis. Louis Lehot, author of L2 Counsel, disclosed to Bloomberg Law Aug. 11 that given the organization's valuation, an immediate posting unveils more sense than a customary contribution.
Picture: Blockchain
Since you're here …
Show your help for our central goal with our a single tick membership to our YouTube channel (underneath). The more endorsers we have, the more YouTube will recommend applicable undertaking and rising innovation substance to you. Much obliged!
Cryptographic money dealer and examiner John Rager did a survey on Twitter, asking his 73,000 adherents: "OK really erase or quit utilizing your Blockchain account?"
More than 5,000 individuals reacted, and 66% said they would quit the directed trade, one of the world's greatest. The staying 33% communicated a readiness to remain. The stage holds a great many individual client data drawn from rigid know-your-client necessities, in consistence with US arrangements.
Blockchain is in the eye of a tempest after reports rose at the end of the week charging that the crypto trade is selling a blockchain instrument that furnishes law authorization offices with prevalent diagnostic abilities.
The Drug Enforcement Agency (DEA) and the Internal Revenue Service (IRS) mean to purchase licenses from the trade's investigation unit called Blockchain Analytics, as indicated by reports that are accessible for public survey.
In one of the reports distributed in April, the IRS brings up the connection between Blockchain Analytics and Neutrino, a blockchain reconnaissance stage questionably obtained by Blockchain in 2019. It says the auxiliary "takes into consideration the investigation and following of digital money streams over various blockchains that lawbreakers are right now utilizing."
The IRS included: "Blockchain Analytics likewise gives some upgraded law implementation delicate capacities that are not at present found in different apparatuses available. This activity will bring about a Firm Fix Priced buy request, Period of Performance: One base year from date of grant with one year choice.
submitted by Necessary-Werewolf-1 to u/Necessary-Werewolf-1 [link] [comments]

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Digital money trade Blockchain Inc. is entering the loaning market with a possibility for some U.S. clients to obtain cash against their bitcoin possessions.
The credits will permit clients to acquire as much as 30% in real money against their bitcoin property on the trade, up to $20,000 per client. Enthusiasm on the advances will be accused at 8% of terms of one year or less. Qualified clients won't have to round out a long application or go through credit checks and can join with a couple of taps to get money inside a few days.
Blockchain is pitching the administration as an option in contrast to conventional high-intrigue individual advances. "We get with clients that they need money for costs like home redesigns or vehicle fixes, yet they would prefer not to rashly sell their crypto or take out high-premium advances that could accompany 20%+ APR," Blockchain Product Manager Thorsten Jaeckel said in a blog entry today. "With portfolio-upheld credits on Blockchain, clients can acquire money rapidly from their Blockchain accounts."
As indicated by Coindesk, Blockchain won't reinvest the guarantee somewhere else and will keep the bitcoin at the trade, dissimilar to some crypto loan specialists that utilization the insurance for speculation openings.
The administration is at present accessible to clients in Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin and Wyoming, states in which Blockchain has a permit to give a loaning administration. The organization is seeking after licenses in different states to extend the administration later on.
The declaration comes as theory keeps on mounting that Blockchain is getting ready for a first sale of stock not long from now or ahead of schedule one year from now. The main report came in July with additional hypothesis in the most recent week.
The way Blockchain may take in opening up to the world stays open to hypothesis. Louis Lehot, author of L2 Counsel, disclosed to Bloomberg Law Aug. 11 that given the organization's valuation, an immediate posting unveils more sense than a customary contribution.
Picture: Blockchain
Since you're here …
Show your help for our central goal with our a single tick membership to our YouTube channel (underneath). The more endorsers we have, the more YouTube will recommend applicable undertaking and rising innovation substance to you. Much obliged!
Cryptographic money dealer and examiner John Rager did a survey on Twitter, asking his 73,000 adherents: "OK really erase or quit utilizing your Blockchain account?"
More than 5,000 individuals reacted, and 66% said they would quit the directed trade, one of the world's greatest. The staying 33% communicated a readiness to remain. The stage holds a great many individual client data drawn from rigid know-your-client necessities, in consistence with US arrangements.
Blockchain is in the eye of a tempest after reports rose at the end of the week charging that the crypto trade is selling a blockchain instrument that furnishes law authorization offices with prevalent diagnostic abilities.
The Drug Enforcement Agency (DEA) and the Internal Revenue Service (IRS) mean to purchase licenses from the trade's investigation unit called Blockchain Analytics, as indicated by reports that are accessible for public survey.
In one of the reports distributed in April, the IRS brings up the connection between Blockchain Analytics and Neutrino, a blockchain reconnaissance stage questionably obtained by Blockchain in 2019. It says the auxiliary "takes into consideration the investigation and following of digital money streams over various blockchains that lawbreakers are right now utilizing."
The IRS included: "Blockchain Analytics likewise gives some upgraded law implementation delicate capacities that are not at present found in different apparatuses available. This activity will bring about a Firm Fix Priced buy request, Period of Performance: One base year from date of grant with one year choice.
submitted by Haunting-Adeptness47 to u/Haunting-Adeptness47 [link] [comments]

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Digital money trade Blockchain Inc. is entering the loaning market with a possibility for some U.S. clients to obtain cash against their bitcoin possessions.
The credits will permit clients to acquire as much as 30% in real money against their bitcoin property on the trade, up to $20,000 per client. Enthusiasm on the advances will be accused at 8% of terms of one year or less. Qualified clients won't have to round out a long application or go through credit checks and can join with a couple of taps to get money inside a few days.
Blockchain is pitching the administration as an option in contrast to conventional high-intrigue individual advances. "We get with clients that they need money for costs like home redesigns or vehicle fixes, yet they would prefer not to rashly sell their crypto or take out high-premium advances that could accompany 20%+ APR," Blockchain Product Manager Thorsten Jaeckel said in a blog entry today. "With portfolio-upheld credits on Blockchain, clients can acquire money rapidly from their Blockchain accounts."
As indicated by Coindesk, Blockchain won't reinvest the guarantee somewhere else and will keep the bitcoin at the trade, dissimilar to some crypto loan specialists that utilization the insurance for speculation openings.
The administration is at present accessible to clients in Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin and Wyoming, states in which Blockchain has a permit to give a loaning administration. The organization is seeking after licenses in different states to extend the administration later on.
The declaration comes as theory keeps on mounting that Blockchain is getting ready for a first sale of stock not long from now or ahead of schedule one year from now. The main report came in July with additional hypothesis in the most recent week.
The way Blockchain may take in opening up to the world stays open to hypothesis. Louis Lehot, author of L2 Counsel, disclosed to Bloomberg Law Aug. 11 that given the organization's valuation, an immediate posting unveils more sense than a customary contribution.
Picture: Blockchain
Since you're here …
Show your help for our central goal with our a single tick membership to our YouTube channel (underneath). The more endorsers we have, the more YouTube will recommend applicable undertaking and rising innovation substance to you. Much obliged!
Cryptographic money dealer and examiner John Rager did a survey on Twitter, asking his 73,000 adherents: "OK really erase or quit utilizing your Blockchain account?"
More than 5,000 individuals reacted, and 66% said they would quit the directed trade, one of the world's greatest. The staying 33% communicated a readiness to remain. The stage holds a great many individual client data drawn from rigid know-your-client necessities, in consistence with US arrangements.
Blockchain is in the eye of a tempest after reports rose at the end of the week charging that the crypto trade is selling a blockchain instrument that furnishes law authorization offices with prevalent diagnostic abilities.
The Drug Enforcement Agency (DEA) and the Internal Revenue Service (IRS) mean to purchase licenses from the trade's investigation unit called Blockchain Analytics, as indicated by reports that are accessible for public survey.
In one of the reports distributed in April, the IRS brings up the connection between Blockchain Analytics and Neutrino, a blockchain reconnaissance stage questionably obtained by Blockchain in 2019. It says the auxiliary "takes into consideration the investigation and following of digital money streams over various blockchains that lawbreakers are right now utilizing."
The IRS included: "Blockchain Analytics likewise gives some upgraded law implementation delicate capacities that are not at present found in different apparatuses available. This activity will bring about a Firm Fix Priced buy request, Period of Performance: One base year from date of grant with one year choice.
submitted by Life-Law-5429 to u/Life-Law-5429 [link] [comments]

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Digital money trade Blockchain Inc. is entering the loaning market with a possibility for some U.S. clients to obtain cash against their bitcoin possessions.
The credits will permit clients to acquire as much as 30% in real money against their bitcoin property on the trade, up to $20,000 per client. Enthusiasm on the advances will be accused at 8% of terms of one year or less. Qualified clients won't have to round out a long application or go through credit checks and can join with a couple of taps to get money inside a few days.
Blockchain is pitching the administration as an option in contrast to conventional high-intrigue individual advances. "We get with clients that they need money for costs like home redesigns or vehicle fixes, yet they would prefer not to rashly sell their crypto or take out high-premium advances that could accompany 20%+ APR," Blockchain Product Manager Thorsten Jaeckel said in a blog entry today. "With portfolio-upheld credits on Blockchain, clients can acquire money rapidly from their Blockchain accounts."
As indicated by Coindesk, Blockchain won't reinvest the guarantee somewhere else and will keep the bitcoin at the trade, dissimilar to some crypto loan specialists that utilization the insurance for speculation openings.
The administration is at present accessible to clients in Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin and Wyoming, states in which Blockchain has a permit to give a loaning administration. The organization is seeking after licenses in different states to extend the administration later on.
The declaration comes as theory keeps on mounting that Blockchain is getting ready for a first sale of stock not long from now or ahead of schedule one year from now. The main report came in July with additional hypothesis in the most recent week.
The way Blockchain may take in opening up to the world stays open to hypothesis. Louis Lehot, author of L2 Counsel, disclosed to Bloomberg Law Aug. 11 that given the organization's valuation, an immediate posting unveils more sense than a customary contribution.
Picture: Blockchain
Since you're here …
Show your help for our central goal with our a single tick membership to our YouTube channel (underneath). The more endorsers we have, the more YouTube will recommend applicable undertaking and rising innovation substance to you. Much obliged!
Cryptographic money dealer and examiner John Rager did a survey on Twitter, asking his 73,000 adherents: "OK really erase or quit utilizing your Blockchain account?"
More than 5,000 individuals reacted, and 66% said they would quit the directed trade, one of the world's greatest. The staying 33% communicated a readiness to remain. The stage holds a great many individual client data drawn from rigid know-your-client necessities, in consistence with US arrangements.
Blockchain is in the eye of a tempest after reports rose at the end of the week charging that the crypto trade is selling a blockchain instrument that furnishes law authorization offices with prevalent diagnostic abilities.
The Drug Enforcement Agency (DEA) and the Internal Revenue Service (IRS) mean to purchase licenses from the trade's investigation unit called Blockchain Analytics, as indicated by reports that are accessible for public survey.
In one of the reports distributed in April, the IRS brings up the connection between Blockchain Analytics and Neutrino, a blockchain reconnaissance stage questionably obtained by Blockchain in 2019. It says the auxiliary "takes into consideration the investigation and following of digital money streams over various blockchains that lawbreakers are right now utilizing."
The IRS included: "Blockchain Analytics likewise gives some upgraded law implementation delicate capacities that are not at present found in different apparatuses available. This activity will bring about a Firm Fix Priced buy request, Period of Performance: One base year from date of grant with one year choice.
submitted by More_Movie_6562 to u/More_Movie_6562 [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]

℀ ₦ 𝟏𝟖𝟓𝟓♫𝟗𝟒𝟓♫𝟑𝟏𝟔𝟔 ₦ Coinbase Helpline Number || # COINBASE # 2020 #^&*

℀ ₦ 𝟏𝟖𝟓𝟓♫𝟗𝟒𝟓♫𝟑𝟏𝟔𝟔 ₦ Coinbase Helpline Number || # COINBASE # 2020 #&*

℀ ₦ 𝟏𝟖𝟓𝟓♫𝟗𝟒𝟓♫𝟑𝟏𝟔𝟔 ₦ Coinbase Helpline Number || # COINBASE # 2020 #^&*
℀ ₦ 𝟏𝟖𝟓𝟓♫𝟗𝟒𝟓♫𝟑𝟏𝟔𝟔 ₦ Coinbase Helpline Number || # COINBASE # 2020 #^&*
Digital money trade Coinbase Inc. is entering the loaning market with a possibility for some U.S. clients to obtain cash against their bitcoin possessions.
The credits will permit clients to acquire as much as 30% in real money against their bitcoin property on the trade, up to $20,000 per client. Enthusiasm on the advances will be accused at 8% of terms of one year or less. Qualified clients won't have to round out a long application or go through credit checks and can join with a couple of taps to get money inside a few days.
Coinbase is pitching the administration as an option in contrast to conventional high-intrigue individual advances. "We get with clients that they need money for costs like home redesigns or vehicle fixes, yet they would prefer not to rashly sell their crypto or take out high-premium advances that could accompany 20%+ APR," Coinbase Product Manager Thorsten Jaeckel said in a blog entry today. "With portfolio-upheld credits on Coinbase, clients can acquire money rapidly from their Coinbase accounts."
As indicated by Coindesk, Coinbase won't reinvest the guarantee somewhere else and will keep the bitcoin at the trade, dissimilar to some crypto loan specialists that utilization the insurance for speculation openings.
The administration is at present accessible to clients in Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin and Wyoming, states in which Coinbase has a permit to give a loaning administration. The organization is seeking after licenses in different states to extend the administration later on.
The declaration comes as theory keeps on mounting that Coinbase is getting ready for a first sale of stock not long from now or ahead of schedule one year from now. The main report came in July with additional hypothesis in the most recent week.
The way Coinbase may take in opening up to the world stays open to hypothesis. Louis Lehot, author of L2 Counsel, disclosed to Bloomberg Law Aug. 11 that given the organization's valuation, an immediate posting unveils more sense than a customary contribution.
Picture: Coinbase
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Cryptographic money dealer and examiner John Rager did a survey on Twitter, asking his 73,000 adherents: "OK really erase or quit utilizing your Coinbase account?"
More than 5,000 individuals reacted, and 66% said they would quit the directed trade, one of the world's greatest. The staying 33% communicated a readiness to remain. The stage holds a great many individual client data drawn from rigid know-your-client necessities, in consistence with US arrangements.
Coinbase is in the eye of a tempest after reports rose at the end of the week charging that the crypto trade is selling a coinbase instrument that furnishes law authorization offices with prevalent diagnostic abilities.
The Drug Enforcement Agency (DEA) and the Internal Revenue Service (IRS) mean to purchase licenses from the trade's investigation unit called Coinbase Analytics, as indicated by reports that are accessible for public survey.
In one of the reports distributed in April, the IRS brings up the connection between Coinbase Analytics and Neutrino, a coinbase reconnaissance stage questionably obtained by Coinbase in 2019. It says the auxiliary "takes into consideration the investigation and following of digital money streams over various coinbases that lawbreakers are right now utilizing."
The IRS included: "Coinbase Analytics likewise gives some upgraded law implementation delicate capacities that are not at present found in different apparatuses available. This activity will bring about a Firm Fix Priced buy request, Period of Performance: One base year from date of grant with one year choice.
submitted by Altruistic-Drummer81 to u/Altruistic-Drummer81 [link] [comments]

Blockchain Bites: Dorsey Challenges Coinbase, Nasdaq Lists Diginex, Ethereum Miners Profit - CoinDesk

Blockchain Bites: Dorsey Challenges Coinbase, Nasdaq Lists Diginex, Ethereum Miners Profit
The Australian government is investing big in modern technology, Nasdaq saw its first crypto exchange operator listing and revenues are surging for Ethereum miners amid increased network activity.
Australia modernizes Australia will commit A$800 million (US$575 million) to invest in digital technologies as part of its coronavirus recovery plan, Prime Minister Scott Morrison announced Tuesday. The federal plan will see US$256.6 million for a digital identity solution, $419.9 million to fully implement the Modernising Business Registers (MBR) program, $22.2 million for small businesses training to utilize digital technologies and two blockchain pilot programs totalling $6.9 million. “The Plan supports Australia’s economic recovery by removing out-dated regulatory barriers, boosting the capability of small businesses and backs the uptake of technology across the economy,” Morrison said in the announcement.
Nasdaq launch Blockchain services firm Diginex has become the first crypto exchange operator to list on Nasdaq. The stock went live Thursday morning under the EQOS ticker symbol, a nod to the firm’s EQUOS.io trading platform. CoinDesk’s Nathan DiCamillo reports Diginex’s back-door listing came through a merger with a special-purpose acquisition company (SPAC). Diginex CEO Richard Byworth said he expects a mix of global retail and institutional investors to buy shares. Over time, he expects the majority of Diginex shareholders to be U.S. investors because of the Nasdaq listing.
Dorsey responds Twitter CEO Jack Dorsey tweeted his disapproval of Coinbase CEO Brian Armstrong’s mission statement to keep his company free and clear of politics. Dorsey argued that by the very act of being a crypto exchange, Coinbase was always already engaged in politics. “Bitcoin (aka ‘crypto’) is direct activism against an unverifiable and exclusionary financial system which negatively affects so much of our society. Important to at least acknowledge and connect the related societal issues your customers face daily. This leaves people behind,” Dorsey tweeted. Armstrong made waves this week – in and out of crypto – when saying Coinbase, and its employees, should keep work and activism separate.
Election predictions Putting stake to their claims, many crypto-political gamblers have cast their vote predicting who might win the contentious U.S. presidential election. CoinDesk markets editor Lawrence Lewitinn looked at the data following this week’s first presidential debate and found many are betting incumbent President Donald Trump will lose in November. While bettors on decentralized betting platforms like Augur and futures markets on FTX aren’t as bullish on the challenger, former Vice President Joe Biden, he does have the odds. “Thus what’s true at the time of publication can change on a dime. It is now fewer than five weeks until Election Day. Buckle up!” Lewitinn warns.
Mining profits HIVE Blockchain has reported its best-ever quarter, as the mining firm raked in record fees from the frenzied activity in decentralized finance (DeFi) over the summer. The Toronto-listed mining company released its unaudited results Thursday, saying it mined a total of 32,000 ether (ETH) and 121,000 ethereum classic (ETC) in the second fiscal quarter ending Sept. 30. Per CoinDesk’s price data, that comes to nearly $11.8 million for mining ether, and a further $664,000 for ethereum classic – approximately $12.4 million at time of writing. The figures represent a near 30% increase from the 25,000 ETH that HIVE mined in the first quarter and a 50% increase in the same quarter in 2019.
Stealth launch In the latest effort to smooth a path for buttoned-up investors, Talos, an institutional-grade conduit to the crypto ecosystem, is emerging from stealth mode to serve brokers, custodians, exchanges and over-the-counter (OTC) trading desks. The platform started out in 2018 and is backed by an impressive list of investors including Autonomous Partners, Castle Island Ventures, Coinbase Ventures and Initialized Capital. Over the past year or so, Talos has been quietly onboarding a core group of capital market participants, so that the platform can make its debut in a revenue-generating state.
submitted by SPACguru to SPACs [link] [comments]

Daily Roundup | Tuesday, September 29th 2020

Daily briefing of $TSLA news:
Tesla (TSLA) signs lithium supply agreement with North Carolina project, sends stock up 200%
Tesla (TSLA) bull and ARK founder shows where Wall St goes wrong
Elon Musk Talks TSLA Stock, Battery Day Reactions
Blockchain Bites: DeFi Meets NFTs, TSLA Beats Bitcoin in Volatility, Uniswap Breaks $2B
TSLA: Closing a Gap Tells You What's Next
Blockchain Bites: DeFi Meets NFTs, TSLA Beats Bitcoin in Volatility, Uniswap Breaks $2B
Tesla (TSLA) Buying More Land In Austin, Texas, Says Report
Tesla Inc (TSLA) Moves Up For the 2nd Straight Day; in an Uptrend Over Past 90 Days
submitted by productism to TSLA [link] [comments]

The Next Crypto Wave: The Rise of Stablecoins and its Entry to the U.S. Dollar Market

The Next Crypto Wave: The Rise of Stablecoins and its Entry to the U.S. Dollar Market

Author: Christian Hsieh, CEO of Tokenomy
This paper examines some explanations for the continual global market demand for the U.S. dollar, the rise of stablecoins, and the utility and opportunities that crypto dollars can offer to both the cryptocurrency and traditional markets.
The U.S. dollar, dominant in world trade since the establishment of the 1944 Bretton Woods System, is unequivocally the world’s most demanded reserve currency. Today, more than 61% of foreign bank reserves and nearly 40% of the entire world’s debt is denominated in U.S. dollars1.
However, there is a massive supply and demand imbalance in the U.S. dollar market. On the supply side, central banks throughout the world have implemented more than a decade-long accommodative monetary policy since the 2008 global financial crisis. The COVID-19 pandemic further exacerbated the need for central banks to provide necessary liquidity and keep staggering economies moving. While the Federal Reserve leads the effort of “money printing” and stimulus programs, the current money supply still cannot meet the constant high demand for the U.S. dollar2. Let us review some of the reasons for this constant dollar demand from a few economic fundamentals.

Demand for U.S. Dollars

Firstly, most of the world’s trade is denominated in U.S. dollars. Chief Economist of the IMF, Gita Gopinath, has compiled data reflecting that the U.S. dollar’s share of invoicing was 4.7 times larger than America’s share of the value of imports, and 3.1 times its share of world exports3. The U.S. dollar is the dominant “invoicing currency” in most developing countries4.

https://preview.redd.it/d4xalwdyz8p51.png?width=535&format=png&auto=webp&s=9f0556c6aa6b29016c9b135f3279e8337dfee2a6

https://preview.redd.it/wucg40kzz8p51.png?width=653&format=png&auto=webp&s=71257fec29b43e0fc0df1bf04363717e3b52478f
This U.S. dollar preference also directly impacts the world’s debt. According to the Bank of International Settlements, there is over $67 trillion in U.S. dollar denominated debt globally, and borrowing outside of the U.S. accounted for $12.5 trillion in Q1 20205. There is an immense demand for U.S. dollars every year just to service these dollar debts. The annual U.S. dollar buying demand is easily over $1 trillion assuming the borrowing cost is at 1.5% (1 year LIBOR + 1%) per year, a conservative estimate.

https://preview.redd.it/6956j6f109p51.png?width=487&format=png&auto=webp&s=ccea257a4e9524c11df25737cac961308b542b69
Secondly, since the U.S. has a much stronger economy compared to its global peers, a higher return on investments draws U.S. dollar demand from everywhere in the world, to invest in companies both in the public and private markets. The U.S. hosts the largest stock markets in the world with more than $33 trillion in public market capitalization (combined both NYSE and NASDAQ)6. For the private market, North America’s total share is well over 60% of the $6.5 trillion global assets under management across private equity, real assets, and private debt investments7. The demand for higher quality investments extends to the fixed income market as well. As countries like Japan and Switzerland currently have negative-yielding interest rates8, fixed income investors’ quest for yield in the developed economies leads them back to the U.S. debt market. As of July 2020, there are $15 trillion worth of negative-yielding debt securities globally (see chart). In comparison, the positive, low-yielding U.S. debt remains a sound fixed income strategy for conservative investors in uncertain market conditions.

Source: Bloomberg
Last, but not least, there are many developing economies experiencing failing monetary policies, where hyperinflation has become a real national disaster. A classic example is Venezuela, where the currency Bolivar became practically worthless as the inflation rate skyrocketed to 10,000,000% in 20199. The recent Beirut port explosion in Lebanon caused a sudden economic meltdown and compounded its already troubled financial market, where inflation has soared to over 112% year on year10. For citizens living in unstable regions such as these, the only reliable store of value is the U.S. dollar. According to the Chainalysis 2020 Geography of Cryptocurrency Report, Venezuela has become one of the most active cryptocurrency trading countries11. The demand for cryptocurrency surges as a flight to safety mentality drives Venezuelans to acquire U.S. dollars to preserve savings that they might otherwise lose. The growth for cryptocurrency activities in those regions is fueled by these desperate citizens using cryptocurrencies as rails to access the U.S. dollar, on top of acquiring actual Bitcoin or other underlying crypto assets.

The Rise of Crypto Dollars

Due to the highly volatile nature of cryptocurrencies, USD stablecoin, a crypto-powered blockchain token that pegs its value to the U.S. dollar, was introduced to provide stable dollar exposure in the crypto trading sphere. Tether is the first of its kind. Issued in 2014 on the bitcoin blockchain (Omni layer protocol), under the token symbol USDT, it attempts to provide crypto traders with a stable settlement currency while they trade in and out of various crypto assets. The reason behind the stablecoin creation was to address the inefficient and burdensome aspects of having to move fiat U.S. dollars between the legacy banking system and crypto exchanges. Because one USDT is theoretically backed by one U.S. dollar, traders can use USDT to trade and settle to fiat dollars. It was not until 2017 that the majority of traders seemed to realize Tether’s intended utility and started using it widely. As of April 2019, USDT trading volume started exceeding the trading volume of bitcoina12, and it now dominates the crypto trading sphere with over $50 billion average daily trading volume13.

https://preview.redd.it/3vq7v1jg09p51.png?width=700&format=png&auto=webp&s=46f11b5f5245a8c335ccc60432873e9bad2eb1e1
An interesting aspect of USDT is that although the claimed 1:1 backing with U.S. dollar collateral is in question, and the Tether company is in reality running fractional reserves through a loose offshore corporate structure, Tether’s trading volume and adoption continues to grow rapidly14. Perhaps in comparison to fiat U.S. dollars, which is not really backed by anything, Tether still has cash equivalents in reserves and crypto traders favor its liquidity and convenience over its lack of legitimacy. For those who are concerned about Tether’s solvency, they can now purchase credit default swaps for downside protection15. On the other hand, USDC, the more compliant contender, takes a distant second spot with total coin circulation of $1.8 billion, versus USDT at $14.5 billion (at the time of publication). It is still too early to tell who is the ultimate leader in the stablecoin arena, as more and more stablecoins are launching to offer various functions and supporting mechanisms. There are three main categories of stablecoin: fiat-backed, crypto-collateralized, and non-collateralized algorithm based stablecoins. Most of these are still at an experimental phase, and readers can learn more about them here. With the continuous innovation of stablecoin development, the utility stablecoins provide in the overall crypto market will become more apparent.

Institutional Developments

In addition to trade settlement, stablecoins can be applied in many other areas. Cross-border payments and remittances is an inefficient market that desperately needs innovation. In 2020, the average cost of sending money across the world is around 7%16, and it takes days to settle. The World Bank aims to reduce remittance fees to 3% by 2030. With the implementation of blockchain technology, this cost could be further reduced close to zero.
J.P. Morgan, the largest bank in the U.S., has created an Interbank Information Network (IIN) with 416 global Institutions to transform the speed of payment flows through its own JPM Coin, another type of crypto dollar17. Although people argue that JPM Coin is not considered a cryptocurrency as it cannot trade openly on a public blockchain, it is by far the largest scale experiment with all the institutional participants trading within the “permissioned” blockchain. It might be more accurate to refer to it as the use of distributed ledger technology (DLT) instead of “blockchain” in this context. Nevertheless, we should keep in mind that as J.P. Morgan currently moves $6 trillion U.S. dollars per day18, the scale of this experiment would create a considerable impact in the international payment and remittance market if it were successful. Potentially the day will come when regulated crypto exchanges become participants of IIN, and the link between public and private crypto assets can be instantly connected, unlocking greater possibilities in blockchain applications.
Many central banks are also in talks about developing their own central bank digital currency (CBDC). Although this idea was not new, the discussion was brought to the forefront due to Facebook’s aggressive Libra project announcement in June 2019 and the public attention that followed. As of July 2020, at least 36 central banks have published some sort of CBDC framework. While each nation has a slightly different motivation behind its currency digitization initiative, ranging from payment safety, transaction efficiency, easy monetary implementation, or financial inclusion, these central banks are committed to deploying a new digital payment infrastructure. When it comes to the technical architectures, research from BIS indicates that most of the current proofs-of-concept tend to be based upon distributed ledger technology (permissioned blockchain)19.

https://preview.redd.it/lgb1f2rw19p51.png?width=700&format=png&auto=webp&s=040bb0deed0499df6bf08a072fd7c4a442a826a0
These institutional experiments are laying an essential foundation for an improved global payment infrastructure, where instant and frictionless cross-border settlements can take place with minimal costs. Of course, the interoperability of private DLT tokens and public blockchain stablecoins has yet to be explored, but the innovation with both public and private blockchain efforts could eventually merge. This was highlighted recently by the Governor of the Bank of England who stated that “stablecoins and CBDC could sit alongside each other20”. One thing for certain is that crypto dollars (or other fiat-linked digital currencies) are going to play a significant role in our future economy.

Future Opportunities

There is never a dull moment in the crypto sector. The industry narratives constantly shift as innovation continues to evolve. Twelve years since its inception, Bitcoin has evolved from an abstract subject to a familiar concept. Its role as a secured, scarce, decentralized digital store of value has continued to gain acceptance, and it is well on its way to becoming an investable asset class as a portfolio hedge against asset price inflation and fiat currency depreciation. Stablecoins have proven to be useful as proxy dollars in the crypto world, similar to how dollars are essential in the traditional world. It is only a matter of time before stablecoins or private digital tokens dominate the cross-border payments and global remittances industry.
There are no shortages of hypes and experiments that draw new participants into the crypto space, such as smart contracts, new blockchains, ICOs, tokenization of things, or the most recent trends on DeFi tokens. These projects highlight the possibilities for a much more robust digital future, but the market also needs time to test and adopt. A reliable digital payment infrastructure must be built first in order to allow these experiments to flourish.
In this paper we examined the historical background and economic reasons for the U.S. dollar’s dominance in the world, and the probable conclusion is that the demand for U.S. dollars will likely continue, especially in the middle of a global pandemic, accompanied by a worldwide economic slowdown. The current monetary system is far from perfect, but there are no better alternatives for replacement at least in the near term. Incremental improvements are being made in both the public and private sectors, and stablecoins have a definite role to play in both the traditional and the new crypto world.
Thank you.

Reference:
[1] How the US dollar became the world’s reserve currency, Investopedia
[2] The dollar is in high demand, prone to dangerous appreciation, The Economist
[3] Dollar dominance in trade and finance, Gita Gopinath
[4] Global trades dependence on dollars, The Economist & IMF working papers
[5] Total credit to non-bank borrowers by currency of denomination, BIS
[6] Biggest stock exchanges in the world, Business Insider
[7] McKinsey Global Private Market Review 2020, McKinsey & Company
[8] Central banks current interest rates, Global Rates
[9] Venezuela hyperinflation hits 10 million percent, CNBC
[10] Lebanon inflation crisis, Reuters
[11] Venezuela cryptocurrency market, Chainalysis
[12] The most used cryptocurrency isn’t Bitcoin, Bloomberg
[13] Trading volume of all crypto assets, coinmarketcap.com
[14] Tether US dollar peg is no longer credible, Forbes
[15] New crypto derivatives let you bet on (or against) Tether’s solvency, Coindesk
[16] Remittance Price Worldwide, The World Bank
[17] Interbank Information Network, J.P. Morgan
[18] Jamie Dimon interview, CBS News
[19] Rise of the central bank digital currency, BIS
[20] Speech by Andrew Bailey, 3 September 2020, Bank of England
submitted by Tokenomy to tokenomyofficial [link] [comments]

Weekly Update: 2gether has 40k users, $BOMB on Uniswap, Ghost data service, Constellation State of the Union…– 5 Jun - 11 Jun'20

Weekly Update: 2gether has 40k users, $BOMB on Uniswap, Ghost data service, Constellation State of the Union…– 5 Jun - 11 Jun'20
Hey everyone! This is Part IV of VI from our May-June update catchup series (5 Jun - 11 Jun'20):

Yosma's Cheerful Cassowary beat Eva's Bright Beetle in a quick finale to win this week's Parena which had a massive $PAR pot thanks to a generous donation from Tony. Gamer Boy’s “Random Gk” and “Renewal from January” quizzes in Tiproom were fun as always. Plus, there were 10k $PAR in prizes. Cool! Charlotte’s “Mega Trivia” got everyone scratching their heads. CoD Mobile gamers were in for an epic time this week with Tavo hosting a tournament with a 3k $PAR pot in the Parachute War Zone. Two-for-Tuesday slid into the "rap, reggae and reggaeton" mode this week. Click here to listen to the playlist. Thanks Sebastian for setting it up! If you have been around for a while, you’ll know that Clinton’s charity, For Living Independence, does some amazing work. So the next time you shop on Amazon, don’t forget to show some love though AmazonSmile.
Cap and crew made their voices heard in NYC this week in solidarity with George Floyd
Congratulations to 2gether for crossing the 40k user mark this week. A new way for account top ups was introduced as well. This week’s CEO email covers news on the latest UX and the 2GT token. Youtuber Funontheride featured the email in his video. Filippo Angeloni covered the latest updates in his newest video as well. Founder Savador Casquero wrote about crypto staking in an Investing.com article. MakerDAO covered the 2gether card in its blog post on crypto debit cards. Following the XIO dApp update from last week, Citizens brainstormed about the UI this week. Citizens also talked about some of their contrarian beliefs in crypto. Bomb community started a Uniswap rewards program. Voyager raised USD 2.1M through a private placement from investors such as Streamlined Ventures, Susquehanna, Market Rebellion etc. Their stock has seen some enormous growth this year too. CEO Stephen Ehrlich shared his thoughts on the crypto market in a recent Bloomberg article. The team also took inputs from the community on which crypto to list next. John McAfee announced a Ghost cell phone data service to be released in September. Check out how the eSIM will work from the sneak peek video. The list of supported phones is mentioned here. And hope you had good fun in ParJar Gaming while winning some cool $ESH. A new set of upgrades were pushed to the Fantom Wallet. For the latest technical update on the project, click here. This week, I also wrote a Hackernoon article (with my co-author Rohit) exploring projects which had unique variations to Proof-of-Stake for their chain consensus. Among the projects featured were Fantom, COTI and Harmony. Jeff from Uptrennd will be speaking at the LA Blockchain Summit in October this year. The winners of the Blockchain Awards were announced. The newest Opacity release allows expired accounts to be revived within 2 months of expiry.
Fantom, Harmony and COTI take up a tiny but growing slice in the global staking pie
Catch up on the latest District0x weekly update and dev update from here and here respectively. The Q1 2020 report was released as well. The project is still sitting on a healthy crypto asset base of USD 4M+. Hydro team shared a guide to choosing a prepaid debit card program manager. Their PaaS report was also covered by Finovate this week. A new research page for featuring all of Hydro’s fintech research material was released. The successful applicants of the Project Hydro Decentralization Ambassador Program (which started in May) were voted upon this week and 7 DAs were elected. Silent Notary, Ubikiri and IDL integrations were completed this week with Silent Notary now appearing in Applications section of Ubikiri. A roundup of the latest updates was published as well. Sentivate founder Thomas Marchi sat down for an interview with MineYourBiz Monday’s NrdGrl007. Mycro announced that Chaia.io will be hosting a campaign on the Mycro Hunter App soon. SelfKey’s Data Breach compendium was updated this week. And if you’re a Product Designer looking for remote work, don’t forget to check out this opening at SelfKey. What next for Constellation? Watch the Constellation Network State of The Union to find out. Their educational group Startdust Collective made a brand video and a high level explainer article on the HyperGraph Transport Protocol. Pynk is thinking about doing a global crowdfunding campaign as opposed to one that is restricted to certain countries only. In light of this, the Pynk Crowd Wisdom was put to work to find out the best way to go about this.
Results of the Project Hydro DA Elections
Wibson’s latest app update was covered by Cointelegraph and Europe World News. Click here to catch up on this week’s detailed work thread from the Harmony project. A recent Harmony ecosystem is the SmartStake dashboard to check staking stats. Sprout Wallet now supports core utilities of HRC20 tokens. The team sat down for an AMA with Binance India and KuCoin this week. Next week they will be doing another AMA with the larger Binance community. Some insights about the Harmony grants were shared in this week’s community call. Read up on Intellishare founder Raymond Xiong’s thoughts on DAOs which he shared as part of a speaker panel at the 2020 Digital Innovation Project Exchange Conference. The team also published a post on how they aim to solve the DeFi congestion. The TestNet is expected to arrive soon as well. After the latest livestream of DI-RECT’s concert which saw ~10k attendees, GET Protocol announced that they will be facilitating tickets to the follow-up show as well. A recap of the COTI journey was published to mark the one-year anniversary of the project and the occasion was celebrated with a fun trivia. DoYourTip community voted to have liquidity rewards for pooling $DYT on Uniswap.

And with that, it’s a wrap! See you again with another update. Ciao!
submitted by abhijoysarkar to ParachuteToken [link] [comments]

LOEx Market Research Report on September 9: BTC oscillates closely to 10,000 points

LOEx Market Research Report on September 9: BTC oscillates closely to 10,000 points
[Today's Hot Tips]
1. [New York Attorney General's Office requires Tether and Bitfinex to immediately submit documentation for USD reserves]
According to CoinDesk's news on September 9, the New York Attorney General's Office (NYAG) required Tether and Bitfinex to immediately submit documents detailing the credit lines conducted by the two companies and the relationship between the two companies. According to previous NYAG investigations of the two companies, NYAG stated that the USDT stablecoin was only supported by approximately 74% of the USD reserve for a period of time. But Tether said that its tokens are fully supported, but did not specify the composition of its USD reserves. According to previous news, New York prosecutors accused Bitfinex of losing $850 million in customer and company funds in April 2019, and then used the affiliated stablecoin Tether to cover up financial loopholes. Since then, Tether and Bitfinex filed an appeal, but the appeal was rejected by the court in July 2020. The court upheld the ruling and required the two companies to submit information about the credit extension and the relationship between the two companies.
2. [The U.S. House of Representatives will hold a hearing on the "America Competes Act" on September 10, which may enhance competitiveness in areas such as blockchain]
According to Forbes' news on September 9, Congressman Bobby Rush and Cathy McMorris Rodgers and other 12 people jointly initiated the "America Competes Act" on September 1. The Act will be discussed at the pricing hearing of the House Energy and Commerce Committee tomorrow. If the Act is passed, it may mean that this may be the first Act to be voted on by the House of Representatives to ensure that the United States is competitive with China in blockchain technology.
3. [Ant pre-sales: 5nm products are still in the R&D and verification stage and will not have the conditions to market in the short term]
The official ant pre-sale official account controlled by Wu Jihan party released the "Clarification of the Rumors about the Pre-sale of the New Antminer 5nm Product". According to the announcement, Bitmain Group recently noticed that Zhan Ketuan released pre-sale information of new 5nm machines in the name of Beijing Bitmain Technology Co., Ltd. without authorization.
[Today's market analysis]
Bitcoin (BTC)BTC rose slightly in the early hours of this morning, and fell rapidly around 2 o'clock, with the lowest falling to 9933.77 USDT. Subsequently, BTC rebounded slightly and returned to 10,000 USDT. There was an obvious pin-in market around 6:30, which rose to 10214.33 USDT and then fell back. At present, BTC continues to oscillate around 10100 USDT, and most mainstream currencies follow the trend of the broader market. After a significant decline in the early morning, they rebounded slightly and fluctuated sharply in the morning. BTC is currently trading at 10027.7 USDT on LOEx Global, a decrease of 0.64% in 24h.
BTC oscillates close to 10,000 points. We don't need to be afraid even if it breaks. First of all, BTC has repeatedly fallen below the level of around US$10,000 and can quickly recover, and it has formed strong support at this position. Secondly, recent on-chain indicators show that many whales are also looking for opportunities to buy in bottom.
In addition, the US presidential election in November is just around the corner. Josh Rager pointed out that Trump may inject capital into the financial market so that the prices of stocks and other assets such as BTC will increase positively, thereby attracting voters. So he suggested to keep an eye on this and hold BTC, Ethereum, Chainlink and some other cryptocurrencies for a longer period of time.
Many other analysts also support Lager's bullish view and predict that prices will rise soon. "Cold Blooded Shiller pointed out that Ethereum and BTC price movements look similar, and important support levels have been tested and remain unchanged. In his opinion, Ethereum shows the strongest bullish momentum in the crypto market so far this year.
But I think that BTC will fluctuate close to 10,000 points after heavy volume decline, and it will also shrink in volume. Therefore, there is an attraction for breaking positions. The so-called not breaking or standing, below 10,000 points can gradually increase positions. I personally believe that the current short position of 9500 can be entered into the position, if it falls to 9300, you can add more positions.
Operation suggestions:
Support level: the first support level is 9800 points, the second support level is 9500 integers;
Resistance level: the first resistance level is 10500 points, the second resistance level is 11000 points.
LOEx is registered in Seychelles. It is a global one-stop digital asset service platform with business distribution nodes in 20 regions around the world. It has been exempted from Seychelles and Singapore Monetary Authority (MAS) digital currency trading services. Provide services and secure encrypted digital currency trading environment for 2 million community members in 24 hours.
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Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?

Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?
Can the early success of major crypto exchanges propel them to winning the broader consumer finance market?
https://reddit.com/link/i48t4q/video/v4eo10gom7f51/player
This is the first part of Crypto Banking Wars — a new series that examines what crypto-native company is most likely to become the bank of the future. Who is best positioned to reach mainstream adoption in consumer finance?
While crypto allows the world to get rid of banks, a bank will still very much be necessary for this powerful technology to reach the masses. We believe a crypto-native company, like Genesis Block, will become the bank of the future.
In an earlier series, Crypto-Powered, we laid out arguments for why crypto-native companies have a huge edge in the market. When you consider both the broad spectrum of financial use-cases and the enormous value unlocked through these DeFi protocols, you can see just how big of an unfair advantage blockchain tech becomes for companies who truly understand and leverage it. Traditional banks and fintech unicorns simply won’t be able to keep up.
The power players of consumer finance in the 21st century will be crypto-native companies who build with blockchain technology at their core.
The crypto landscape is still nascent. We’re still very much in the fragmented, unbundled phase of the industry lifecycle. Beyond what Genesis Block is doing, there are signs of other companies slowly starting to bundle financial services into what could be an all-in-one bank replacement.
So the key question that this series hopes to answer:
Which crypto-native company will successfully become the bank of the future?
We obviously think Genesis Block is well-positioned to win. But we certainly aren’t the only game in town. In this series, we’ll be doing an analysis of who is most capable of thwarting our efforts. We’ll look at categories like crypto exchanges, crypto wallets, centralized lending & borrowing services, and crypto debit card companies. Each category will have its own dedicated post.
Today we’re analyzing big crypto exchanges. The two companies we’ll focus on today are Coinbase (biggest American exchange) and Binance (biggest global exchange). They are the top two exchanges in terms of Bitcoin trading volume. They are in pole position to winning this market — they have a huge existing userbase and strong financial resources.
Will Coinbase or Binance become the bank of the future? Can their early success propel them to winning the broader consumer finance market? Is their growth too far ahead for anyone else to catch up? Let’s dive in.
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Binance

The most formidable exchange on the global stage is Binance (Crunchbase). All signs suggest they have significantly more users and a stronger balance sheet than Coinbase. No other exchange is executing as aggressively and relentlessly as Binance is. The cadence at which they are shipping and launching new products is nothing short of impressive. As Tushar Jain from Multicoin argues, Binance is Blitzscaling.
Here are some of the products that they’ve launched in the last 18 months. Only a few are announced but still pre-launch.
Binance is well-positioned to become the crypto-powered, all-in-one, bundled solution for financial services. They already have so many of the pieces. But the key question is:
Can they create a cohesive & united product experience?

Binance Weaknesses

Binance is strong, but they do have a few major weaknesses that could slow them down.
  1. Traders & Speculators Binance is currently very geared for speculators, traders, and financial professionals. Their bread-and-butter is trading (spot, margin, options, futures). Their UI is littered with depth charts, order books, candlesticks, and other financial concepts that are beyond the reach of most normal consumers. Their product today is not at all tailored for the broader consumer market. Given Binance’s popularity and strength among the pro audience, it’s unlikely that they will dumb down or simplify their product any time soon. That would jeopardize their core business. Binance will likely need an entirely new product/brand to go beyond the pro user crowd. That will take time (or an acquisition). So the question remains, is Binance even interested in the broader consumer market? Or will they continue to focus on their core product, the one-stop-shop for pro crypto traders?
  2. Controversies & Hot Water Binance has had a number of controversies. No one seems to know where they are based — so what regulatory agencies can hold them accountable? Last year, some sensitive, private user data got leaked. When they announced their debit card program, they had to remove mentions of Visa quickly after. And though the “police raid” story proved to be untrue, there are still a lot of questions about what happened with their Shanghai office shut down (where there is smoke, there is fire). If any company has had a “move fast and break things” attitude, it is Binance. That attitude has served them well so far but as they try to do business in more regulated countries like America, this will make their road much more difficult — especially in the consumer market where trust takes a long time to earn, but can be destroyed in an instant. This is perhaps why the Binance US product is an empty shell when compared to their main global product.
  3. Disjointed Product Experience Because Binance has so many different teams launching so many different services, their core product is increasingly feeling disjointed and disconnected. Many of the new features are sloppily integrated with each other. There’s no cohesive product experience. This is one of the downsides of executing and shipping at their relentless pace. For example, users don’t have a single wallet that shows their balances. Depending on if the user wants to do spot trading, margin, futures, or savings… the user needs to constantly be transferring their assets from one wallet to another. It’s not a unified, frictionless, simple user experience. This is one major downside of the “move fast and break things” approach.
  4. BNB token Binance raised $15M in a 2017 ICO by selling their $BNB token. The current market cap of $BNB is worth more than $2.6B. Financially this token has served them well. However, given how BNB works (for example, their token burn), there are a lot of open questions as to how BNB will be treated with US security laws. Their Binance US product so far is treading very lightly with its use of BNB. Their token could become a liability for Binance as it enters more regulated markets. Whether the crypto community likes it or not, until regulators get caught up and understand the power of decentralized technology, tokens will still be a regulatory burden — especially for anything that touches consumers.
  5. Binance Chain & Smart Contract Platform Binance is launching its own smart contract platform soon. Based on compatibility choices, they have their sights aimed at the Ethereum developer community. It’s unclear how easy it’ll be to convince developers to move to Binance chain. Most of the current developer energy and momentum around smart contracts is with Ethereum. Because Binance now has their own horse in the race, it’s unlikely they will ever decide to leverage Ethereum’s DeFi protocols. This could likely be a major strategic mistake — and hubris that goes a step too far. Binance will be pushing and promoting protocols on their own platform. The major risk of being all-in on their own platform is that they miss having a seat on the Ethereum rocket ship — specifically the growth of DeFi use-cases and the enormous value that can be unlocked. Integrating with Ethereum’s protocols would be either admitting defeat of their own platform or competing directly against themselves.

Binance Wrap Up

I don’t believe Binance is likely to succeed with a homegrown product aimed at the consumer finance market. Their current product — which is focused heavily on professional traders and speculators — is unlikely to become the bank of the future. If they wanted to enter the broader consumer market, I believe it’s much more likely that they will acquire a company that is getting early traction. They are not afraid to make acquisitions (Trust, JEX, WazirX, DappReview, BxB, CoinMarketCap, Swipe).
However, never count CZ out. He is a hustler. Binance is executing so aggressively and relentlessly that they will always be on the shortlist of major contenders.
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Coinbase

The crypto-native company that I believe is more likely to become the bank of the future is Coinbase (crunchbase). Their dominance in America could serve as a springboard to winning the West (Binance has a stronger foothold in Asia). Coinbase has more than 30M users. Their exchange business is a money-printing machine. They have a solid reputation as it relates to compliance and working with regulators. Their CEO is a longtime member of the crypto community. They are rumored to be going public soon.

Coinbase Strengths

Let’s look at what makes them strong and a likely contender for winning the broader consumer finance market.
  1. Different Audience, Different Experience Coinbase has been smart to create a unique product experience for each audience — the pro speculator crowd and the common retail user. Their simple consumer version is at Coinbase.com. That’s the default. Their product for the more sophisticated traders and speculators is at Coinbase Pro (formerly GDAX). Unlike Binance, Coinbase can slowly build out the bank of the future for the broad consumer market while still having a home for their hardcore crypto traders. They aren’t afraid to have different experiences for different audiences.
  2. Brand & Design Coinbase has a strong product design team. Their brand is capable of going beyond the male-dominated crypto audience. Their product is clean and simple — much more consumer-friendly than Binance. It’s clear they spend a lot of time thinking about their user experience. Interacting directly with crypto can sometimes be rough and raw (especially for n00bs). When I was at Mainframe we hosted a panel about Crypto UX challenges at the DevCon4 Dapp Awards. Connie Yang (Head of Design at Coinbase) was on the panel. She was impressive. Some of their design philosophies will bode well as they push to reach the broader consumer finance market.
  3. USDC Stablecoin Coinbase (along with Circle) launched USDC. We’ve shared some stats about its impressive growth when we discussed DeFi use-cases. USDC is quickly becoming integrated with most DeFi protocols. As a result, Coinbase is getting a front-row seat at some of the most exciting things happening in decentralized finance. As Coinbase builds its knowledge and networks around these protocols, it could put them in a favorable position to unlock incredible value for their users.
  4. Early Signs of Bundling Though Coinbase has nowhere near as many products & services as Binance, they are slowly starting to add more financial services that may appeal to the broader market. They are now letting depositors earn interest on USDC (also DAI & Tezos). In the UK they are piloting a debit card. Users can now invest in crypto with dollar-cost-averaging. It’s not much, but it’s a start. You can start to see hints of a more bundled solution around financial services.

Coinbase Weaknesses

Let’s now look at some things that could hold them back.
  1. Slow Cadence In the fast-paced world of crypto, and especially when compared to Binance, Coinbase does not ship very many new products very often. This is perhaps their greatest weakness. Smaller, more nimble startups may run circles around them. They were smart to launch Coinbase Ventures where tey invest in early-stage startups. They can now keep an ear to the ground on innovation. Perhaps their cadence is normal for a company of their size — but the Binance pace creates quite the contrast.
  2. Lack of Innovation When you consider the previous point (slow cadence), it’s unclear if Coinbase is capable of building and launching new products that are built internally. Most of their new products have come through acquisitions. Their Earn.com acquisition is what led to their Earn educational product. Their acquisition of Xapo helped bolster their institutional custody offering. They acqui-hired a team to help launch their staking infrastructure. Their acquisition of Cipher Browser became an important part of Coinbase Wallet. And recently, they acquired Tagomi — a crypto prime brokerage. Perhaps most of Coinbase’s team is just focused on improving their golden goose, their exchange business. It’s unclear. But the jury is still out on if they can successfully innovate internally and launch any homegrown products.
  3. Talent Exodus There have been numerous reports of executive turmoil at Coinbase. It raises a lot of questions about company culture and vision. Some of the executives who departed include COO Asiff Hirji, CTO Balaji Srinivasan, VP & GM Adam White, VP Eng Tim Wagner, VP Product Jeremy Henrickson, Sr Dir of Eng Namrata Ganatra, VP of Intl Biz Dan Romero, Dir of Inst Sales Christine Sandler, Head of Trading Hunter Merghart, Dir Data Science Soups Ranjan, Policy Lead Mike Lempres, Sr Compliance Vaishali Mehta. Many of these folks didn’t stay with Coinbase very long. We don’t know exactly why it’s happening —but when you consider a few of my first points (slow cadence, lack of innovation), you have to wonder if it’s all related.
  4. Institutional Focus As a company, we are a Coinbase client. We love their institutional offering. It’s clear they’ve been investing a lot in this area. A recent Coinbase blog post made it clear that this has been a focus: “Over the past 12 months, Coinbase has been laser-focused on building out the types of features and services that our institutional customers need.” Their Tagomi acquisition only re-enforced this focus. Perhaps this is why their consumer product has felt so neglected. They’ve been heavily investing in their institutional services since May 2018. For a company that’s getting very close to an IPO, it makes sense that they’d focus on areas that present strong revenue opportunities — as they do with institutional clients. Even for big companies like Coinbase, it’s hard to have a split focus. If they are “laser-focused” on the institutional audience, it’s unlikely they’ll be launching any major consumer products anytime soon.

Coinbase Wrap Up

At Genesis Block, we‘re proud to be working with Coinbase. They are a fantastic company. However, I don’t believe that they’ll succeed in building their own product for the broader consumer finance market. While they have incredible design, there are no signs that they are focused on or capable of internally building this type of product.
Similar to Binance, I think it’s far more likely that Coinbase acquires a promising young startup with strong growth.

Honorable Mentions

Other US-based exchanges worth mentioning are Kraken, Gemini, and Bittrex. So far we’ve seen very few signs that any of them will aggressively attack broader consumer finance. Most are going in the way of Binance — listing more assets and adding more pro tools like margin and futures trading. And many, like Coinbase, are trying to attract more institutional customers. For example, Gemini with their custody product.

Wrap Up

Coinbase and Binance have huge war chests and massive reach. For that alone, they should always be considered threats to Genesis Block. However, their products are very, very different than the product we’re building. And their approach is very different as well. They are trying to educate and onboard people into crypto. At Genesis Block, we believe the masses shouldn’t need to know or care about it. We did an entire series about this, Spreading Crypto.
Most everyone needs banking — whether it be to borrow, spend, invest, earn interest, etc. Not everyone needs a crypto exchange. For non-crypto consumers (the mass market), the differences between a bank and a crypto exchange are immense. Companies like Binance and Coinbase make a lot of money on their crypto exchange business. It would be really difficult, gutsy, and risky for any of them to completely change their narrative, messaging, and product to focus on the broader consumer market. I don’t believe they would ever risk biting the hand that feeds them.
In summary, as it relates to a digital bank aimed at the mass market, I believe both Coinbase and Binance are much more likely to acquire a startup in this space than they are to build it themselves. And I think they would want to keep the brand/product distinct and separate from their core crypto exchange business.
So back to the original question, is Coinbase and Binance a threat to Genesis Block? Not really. Not today. But they could be, and for that, we want to stay close to them.
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MCS | The Record High Gold Price! What's going to happen to the price of Bitcoin, the digital gold?

MCS | The Record High Gold Price! What's going to happen to the price of Bitcoin, the digital gold?

\This post has been written by Hedgehog, an MCS influencer and one of Korea's famous cryptocurrency key opinion leaders.*

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#Be_a_Trader!

Greetings from MCS, the derivatives trading platform where traders ALWAYS come first.

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For the first time in history, the world gold price has topped $2,000 an ounce. Quantitative easing in major countries has brought astronomical amounts into the financial markets. In addition, Nasdaq is also setting a new high in anticipation of further economic stimulus agreements in the US this week.
Financial experts cite the followings for the main causes of the recent gold rally.
👉 First, experts analyze this intensification of the gold rally was caused by the stuttered US dollar rebound and the lowered US Treasury yield. In particular, as the US government's discussion on further economic stimulus measures to alleviate the global economic damage caused by COVID-19 from Wuhan, China is expected to come to an agreement this week, many speculate that this will lead to a drop in dollar value. Although the White House, Republicans, and Democrats have yet to narrow their views on additional stimulus measures prolonging the negotiation, it is very likely that the release of more dollars in the market, in the sense that everyone agrees on the need for additional stimulus, will relatively increase the value of gold.
👉 Second, some say that “the central banks in many countries will continue to buy gold to promote gold prices” referring to cases where central banks' buying of gold increased their gold prices during the 2009 global financial crisis.

"How high will the gold price go❓ "
Most experts believe that the gold price is still far from its limit. Especially, the Goldman Sachs Group is looking at $2,300 an ounce, Bank of America from $2,500 an ounce to up to $3,000 an ounce, and RBC Capital Market $3,000 an ounce.

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The price of Bitcoin, also known as a safe digital asset, also remains in the $11,100 to $11,300 range ever since it recently broke the highest point of $12,000.

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Bitcoin, the No. 1 market capitalization among cryptocurrencies, has a market capitalization of approximately 200 billion USD as of August 5, 2020. This is more than the global stock valuations of Intel and Coca-Cola.

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A cryptocurrency media outlet, CoinDesk recently said that "Bitcoin recently hit a market high of $11,480, but there was a sign of buyer (buying force) fatigue in the technology chart. If the price falls below $11,000, it could retreat back to, before resistance now support, $10,500 (the highest point in February). However, if Bitcoin continues to settle above $11,400 on the time chart, it is highly likely that the rally will go above the latest high beyond $12,000".
I believe now that the value of gold, a famous safe asset, is the highest ever as the U.S. government has tentatively agreed to invest an additional $1 trillion in economic stimulus, the Bitcoin is also preparing to its rally again. I also think that since it is the post-halving period with the good news waiting in line including the Ethereum 2.0, we have enough momentum to rally more than $20,000 by the end of the year.

💡 "Nothing is permanent in this wicked world - not even our troubles." - Charlie Chaplin
All financial assets, including Bitcoin, the cryptocurrency leader, cannot be bullish forever. In the long run, they can gradually rise by stepping up the lowest price point, but there are a lot of ups and downs along the way. MCS traders can enjoy a bull market while preparing for a bear market on the one hand.

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On UPbit and Bithumb, the major cryptocurrency exchanges in Korea, one can profit in a bull market, but it is very difficult to realize profits in a bear market, nless you are a master of flipping,. As a result, many cryptocurrency traders will turn their attention to cryptocurrency derivatives exchanges in bear markets.
After a successful launch of the Bitcoin perpetual contract product, the trading market on MCS is vigorously moving. The perpetual contract, one of Bitcoin derivatives, can short sell (betting on price drop) in the bear market, making it easy to profit even if the full-fledged bear market starts. In addition, even in today's bull market, you can take long positions (betting on rising prices), and you can use leverage to amplify your investment beyond the assets managed you own, enabling very effective Bitcoin trading.
*If you use leverage, the risk is significantly higher, so please be cautious of the risk and trade safely.
I hope this post helped you to understand the pros and cons of Bitcoin perpetual contract better, and I really wish that you realize your financial freedom on MCS, a cryptocurrency derivatives trading platform!!
I am a Bitcoin margin trader, Hedgehog. Thank you for reading this post.

Traders ALWAYS come first on MCS.
Thank you.

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ArCoin from Arca: how the first tokenized US government bonds work

ArCoin from Arca: how the first tokenized US government bonds work

ArCoin from Arca: how the first tokenized US government bonds work
On July 6, digital asset manager Arca registered his private crypto fund Arca U.S. Treasury Fund at the US Securities and Exchange Commission (SEC). The fund invests most of its funds in short-term US bonds, while the fund’s shares are represented in the form of ArCoin Ethereum tokens of the new ERC1404 format, which fully comply with securities legislation.

Why SEC registration is important for Arca U.S. Treasury Fund.

Arca U.S. Treasury Fund is a closed-end hedge fund owned by the American digital asset management company Arca. It aims to combine the regulatory, legal and operational standards of the traditional financial sector with the efficiency of the blockchain. The company believes that actively managed hedge funds are the best way to address the volatility, immaturity, and rapidly changing nature of cryptocurrencies as an investment asset.
Registration with the SEC was not easy for the fund — Arca agreed on the form of its digital shares within 20 months. But now the fund’s securities comply with the 1940 Investment Companies Act, which regulates the work of investment funds, including those issuing their own securities.
For investors, SEC approval is an opportunity to receive guarantees from the traditional financial market: broker control by the regulator, independent audit and regular reporting, as well as the right to return their money in the event of a broker’s bankruptcy.
For an investment fund, registration with the SEC imposes obligations to provide information on the company’s financial position, investment policy and current operations, meet liquidity requirements, conduct an independent audit and transfer control over assets to an independent board of trustees. But this is what allowed Arca to release an institutional-grade product.

How Arca U.S. Treasury Fund works

Arca U.S. Treasury Fund invests 80% of its assets in short-term US Treasury bonds. The rest of the funds are invested in fixed income debt securities. As the fund plans to invest in low-risk assets, the ArCoin price is expected to be stable.
The fund operates just like any other fund holding US debt securities, but with the addition of blockchain to manage stocks. Investors do not invest their money directly in securities, but purchase shares of the fund — ArCoin tokens (ARCT). They were created by a special division of the company — Arca Labs. TokenSoft, a crypto startup that helps companies launch and sell tokens, has become a technical service provider.
ArCoin sets a new standard for Ethereum tokens — ERC1404. It is specifically designed to meet regulatory requirements. Unlike the universal ERC20 standard, ERC1404 is more strictly controlled: such a token can be frozen, and the addresses to which users can send it must also be predefined. This “whitelist” of permitted addresses allows the SEC to almost completely control and track their circulation and ensures that tokens are not transferred outside of regulatory oversight.
Each ArCoin grants the right to one share in the fund. The price of the coin is $1 with a minimum investment of $1000. A total of 100 million ArCoins will be available. Accrued interest is paid directly to ArCoin holders every quarter. You can buy shares directly through the website after passing the KYC / AML check. At the same time, investors can trade tokens with each other — the blockchain allows you to do without a broker.
The fund’s shares will not be available for trading on stock exchanges and for secondary trading on crypto exchanges. Notably, the prospectus filed with the SEC in April 2019 states that in the future, Arca coins “may be traded on a public decentralized or centralized electronic exchange platform that is registered with the SEC as an alternative trading system, although there is no guarantee that such systems or platforms will be available.” But, apparently, this situation did not suit the regulator, and in the latest version of the document it was changed.
The standard investor commission for fund management is 3.22%, but during the first year it will be reduced to 0.75%. Investors can keep ArCoin in their own wallets, but if the private keys from them are lost or compromised, the fund will replace the lost tokens with new ones. The digital assets are held in tokenized asset-oriented investment bank DTAC LLC, launched by TokenSoft last December.
ArCoin offers companies and investors several use cases and wide integration of the coin into the work of structures. Individuals can use ArCoin to hedge their cryptocurrency portfolio against volatility, and financial institutions and other companies can use ArCoin to clear, settle, pay and lend “more efficiently, less costly, faster and with the ability to directly track all transactions.”
The ability to pay for goods and services with tokens on US Treasury bonds is a revolutionary step that narrows the space between payment and investment funds.

Fight for a new trillion dollar market

US Treasuries, to which ArCoin is tied, are issued by the US Treasury Department and serve as a government debt financing instrument.
Traditionally, they have a credit rating equal to or close to the maximum AAA, and are considered one of the safest and most reliable assets in the world. This makes US Treasuries highly sought after by central banks, financial companies, and private investors around the world, as they act as a safe haven from volatility in stock and corporate bond markets in times of geopolitical or economic turmoil. The SEC cleared ArCoin linkage to US Treasuries makes the asset the safest and most regulated token on the market. This is a great choice in turbulent financial times.
The launch of Arca U.S. Treasury Fund is targeting one of Wall Street’s oldest outposts — investing in the US Treasury bond market.According to Brookings, its value is about $18 trillion. ArCoin is a modern alternative to existing methods of investing in Treasury securities (buying bonds from a broker or purchasing shares from an investment fund). Arca is clearly looking forward to the emergence and growth of a new market for fully regulated and SEC-approved digital shares in traditional assets. Moreover, their competitors are not other crypto funds, but traditional exchange-traded funds and ETFs.
The Arca team is made up of Wall Street veterans and knows what a product needs to be that will be successful. Blockchain aims to show investors that it simplifies, cheaper and speeds up the process compared to the traditional market. On the site, the Arca team describes ArCoin as a “blockchain-traded fund”, or BTF.
In comments to CoinDesk in February this year, CEO Ryan Steinberg said that Arca hopes to see large institutional investors as early buyers. It was for them that the company fought so long and hard to get registered with the SEC — it had to increase confidence in the products. “The answer to the question of why there are so few institutions in the crypto industry is simple: there are no institutional-grade products on the market,” Steinberg said, noting that ArCoin is just right for the needs of large investors.
“This is a huge leap forward in legitimizing securities on the blockchain.
Huge round of applause for the Arca team, great talent and domain expertise paired with great execution.” — TokenSoft CEO Mason Borda praised the Arca team.
However, the Arca team understands that success is not guaranteed. Treasury digital assets are a new and untested market. In its filing with the SEC, Arca recognizes the potential risks for investors. For example, digital asset markets may not have the liquidity that US Treasury investors currently enjoy in traditional markets. “The use of blockchain is relatively new and untested. Therefore, investors should initially expect greater price volatility in the secondary market than would be the case if the shares had greater liquidity, ”the application says. Other risks include congestion on the Ethereum network and “the possibility of breakdowns and trading stops as a result of undiscovered technological deficiencies.”

To the conclusion

SEC-registered crypto investment products are nothing new. Cryptocurrency investment fund Grayscale Investments, for example, is one of the largest bitcoin funds that is regularly audited by the SEC. But the point is, Arca offers its own cryptocurrency, not Bitcoin.
ArCoin is set to become just the first asset in the portfolio of SEC-approved financial products to be released by Arca. The increase in the number of such initiatives can convince the SEC that their launch does not carry enormous risks. For several years now, this regulator has refused to launch bitcoin ETFs, arguing this by the lack of a legal environment in the market, manipulation of asset prices, difficulties with liquidity, storage and arbitration, and non-compliance with the regulator’s rules. Now, amid the emergence of products such as ArCoin, the SEC may reconsider its opinion on Bitcoin ETFs.
The SEC approval for Arca has potentially opened the door to new and innovative blockchain-based financial products. Regulatory registration can be a challenge for many companies, but Arca has shown how to achieve it. The project has taken a pioneering and revolutionary step towards combining traditional finance with digital investments.
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