Is Forex Trading Gambling? Stop Blowing Your Money Trading

Daily Lesson for My Parents

The scene: I receive an email from my father. He sent me this link:
https://cayarekylajules.gitlab.io/julescayarek/?placement=silverprice.org&creative=476738494285&campid=11533504265&gclid=EAIaIQobChMIu-_F-aH27AIV8QFoCB3HOQY8EAEYASAAEgKq6fD_BwE
This was my response:
---
If it seems too good to be true, it probably is. If your "investment" strategy seems akin to placing a bet in a casino, then you're not really investing. You're gambling.
The significance of seeing a world government backing a cryptocurrency is high. Presumably it would be a cryptocurrency designed and supported by that country's central bank. Many countries (including Canada) are currently working on such projects.
The catch though is that governments are not interested in careless speculation. They want stability in their national currencies. There are already several cryptocurrencies out there that are designed as "stablecoins," ie. they are designed to try to be pegged to the USD or Euro. So obviously a cryptocurrency that is designed to be pegged to fiat will not see any significant appreciation, save for marching in lockstep with the pegged national currency.
There are still a lot of good uses for digital stable-coins, as opposed to traditional fiat. They would work very similar to current fiat currencies, and their stability would be an asset to certain classes of investors. Currently, they are used when investors/speculators think that other cryptocurrencies such as bitcoin are about to drop in price. The traders move their funds out of bitcoin and into the stablecoin, so the value is preserved, and then if the cryptocurrency actually drops in price, they can sell their stablecoin and buy the cryptocurrency again, ending up with a greater quantity of the cryptocurrency than they had when they started.
The thing about cryptocurrencies that concerns me the most is that so few people understand how they work, and for those people, there is a serious risk of losing funds. Does anyone think that it's a good idea for someone with a grade 8 education to have access to a trading account where they can trade margined forex or leveraged derivatives? No. And for a lot of people, a true understanding of the characteristics and value of cryptocurrencies requires a good deal of financial and banking acumen, plus a solid grounding in economics. And perhaps it would help to have some mathematics and coding experience on the side.
Edit: And to be clear, that site is also a scam.
submitted by CanadianCryptoGuy to CryptoCurrency [link] [comments]

Former investment bank FX trader: Risk management part 3/3

Former investment bank FX trader: Risk management part 3/3
Welcome to the third and final part of this chapter.
Thank you all for the 100s of comments and upvotes - maybe this post will take us above 1,000 for this topic!
Keep any feedback or questions coming in the replies below.
Before you read this note, please start with Part I and then Part II so it hangs together and makes sense.
Part III
  • Squeezes and other risks
  • Market positioning
  • Bet correlation
  • Crap trades, timeouts and monthly limits

Squeezes and other risks

We are going to cover three common risks that traders face: events; squeezes, asymmetric bets.

Events

Economic releases can cause large short-term volatility. The most famous is Non Farm Payrolls, which is the most widely watched measure of US employment levels and affects the price of many instruments.On an NFP announcement currencies like EURUSD might jump (or drop) 100 pips no problem.
This is fine and there are trading strategies that one may employ around this but the key thing is to be aware of these releases.You can find economic calendars all over the internet - including on this site - and you need only check if there are any major releases each day or week.
For example, if you are trading off some intraday chart and scalping a few pips here and there it would be highly sensible to go into a known data release flat as it is pure coin-toss and not the reason for your trading. It only takes five minutes each day to plan for the day ahead so do not get caught out by this. Many retail traders get stopped out on such events when price volatility is at its peak.

Squeezes

Short squeezes bring a lot of danger and perhaps some opportunity.
The story of VW and Porsche is the best short squeeze ever. Throughout these articles we've used FX examples wherever possible but in this one instance the concept (which is also highly relevant in FX) is best illustrated with an historical lesson from a different asset class.
A short squeeze is when a participant ends up in a short position they are forced to cover. Especially when the rest of the market knows that this participant can be bullied into stopping out at terrible levels, provided the market can briefly drive the price into their pain zone.

There's a reason for the car, don't worry
Hedge funds had been shorting VW stock. However the amount of VW stock available to buy in the open market was actually quite limited. The local government owned a chunk and Porsche itself had bought and locked away around 30%. Neither of these would sell to the hedge-funds so a good amount of the stock was un-buyable at any price.
If you sell or short a stock you must be prepared to buy it back to go flat at some point.
To cut a long story short, Porsche bought a lot of call options on VW stock. These options gave them the right to purchase VW stock from banks at slightly above market price.
Eventually the banks who had sold these options realised there was no VW stock to go out and buy since the German government wouldn’t sell its allocation and Porsche wouldn’t either. If Porsche called in the options the banks were in trouble.
Porsche called in the options which forced the shorts to buy stock - at whatever price they could get it.
The price squeezed higher as those that were short got massively squeezed and stopped out. For one brief moment in 2008, VW was the world’s most valuable company. Shorts were burned hard.

Incredible event
Porsche apparently made $11.5 billion on the trade. The BBC described Porsche as “a hedge fund with a carmaker attached.”
If this all seems exotic then know that the same thing happens in FX all the time. If everyone in the market is talking about a key level in EURUSD being 1.2050 then you can bet the market will try to push through 1.2050 just to take out any short stops at that level. Whether it then rallies higher or fails and trades back lower is a different matter entirely.
This brings us on to the matter of crowded trades. We will look at positioning in more detail in the next section. Crowded trades are dangerous for PNL. If everyone believes EURUSD is going down and has already sold EURUSD then you run the risk of a short squeeze.
For additional selling to take place you need a very good reason for people to add to their position whereas a move in the other direction could force mass buying to cover their shorts.
A trading mentor when I worked at the investment bank once advised me:
Always think about which move would cause the maximum people the maximum pain. That move is precisely what you should be watching out for at all times.

Asymmetric losses

Also known as picking up pennies in front of a steamroller. This risk has caught out many a retail trader. Sometimes it is referred to as a "negative skew" strategy.
Ideally what you are looking for is asymmetric risk trade set-ups: that is where the downside is clearly defined and smaller than the upside. What you want to avoid is the opposite.
A famous example of this going wrong was the Swiss National Bank de-peg in 2012.
The Swiss National Bank had said they would defend the price of EURCHF so that it did not go below 1.2. Many people believed it could never go below 1.2 due to this. Many retail traders therefore opted for a strategy that some describe as ‘picking up pennies in front of a steam-roller’.
They would would buy EURCHF above the peg level and hope for a tiny rally of several pips before selling them back and keep doing this repeatedly. Often they were highly leveraged at 100:1 so that they could amplify the profit of the tiny 5-10 pip rally.
Then this happened.

Something that changed FX markets forever
The SNB suddenly did the unthinkable. They stopped defending the price. CHF jumped and so EURCHF (the number of CHF per 1 EUR) dropped to new lows very fast. Clearly, this trade had horrific risk : reward asymmetry: you risked 30% to make 0.05%.
Other strategies like naively selling options have the same result. You win a small amount of money each day and then spectacularly blow up at some point down the line.

Market positioning

We have talked about short squeezes. But how do you know what the market position is? And should you care?
Let’s start with the first. You should definitely care.
Let’s imagine the entire market is exceptionally long EURUSD and positioning reaches extreme levels. This makes EURUSD very vulnerable.
To keep the price going higher EURUSD needs to attract fresh buy orders. If everyone is already long and has no room to add, what can incentivise people to keep buying? The news flow might be good. They may believe EURUSD goes higher. But they have already bought and have their maximum position on.
On the flip side, if there’s an unexpected event and EURUSD gaps lower you will have the entire market trying to exit the position at the same time. Like a herd of cows running through a single doorway. Messy.
We are going to look at this in more detail in a later chapter, where we discuss ‘carry’ trades. For now this TRYJPY chart might provide some idea of what a rush to the exits of a crowded position looks like.

A carry trade position clear-out in action
Knowing if the market is currently at extreme levels of long or short can therefore be helpful.
The CFTC makes available a weekly report, which details the overall positions of speculative traders “Non Commercial Traders” in some of the major futures products. This includes futures tied to deliverable FX pairs such as EURUSD as well as products such as gold. The report is called “CFTC Commitments of Traders” ("COT").
This is a great benchmark. It is far more representative of the overall market than the proprietary ones offered by retail brokers as it covers a far larger cross-section of the institutional market.
Generally market participants will not pay a lot of attention to commercial hedgers, which are also detailed in the report. This data is worth tracking but these folks are simply hedging real-world transactions rather than speculating so their activity is far less revealing and far more noisy.
You can find the data online for free and download it directly here.

Raw format is kinda hard to work with

However, many websites will chart this for you free of charge and you may find it more convenient to look at it that way. Just google “CFTC positioning charts”.

But you can easily get visualisations
You can visually spot extreme positioning. It is extremely powerful.
Bear in mind the reports come out Friday afternoon US time and the report is a snapshot up to the prior Tuesday. That means it is a lagged report - by the time it is released it is a few days out of date. For longer term trades where you hold positions for weeks this is of course still pretty helpful information.
As well as the absolute level (is the speculative market net long or short) you can also use this to pick up on changes in positioning.
For example if bad news comes out how much does the net short increase? If good news comes out, the market may remain net short but how much did they buy back?
A lot of traders ask themselves “Does the market have this trade on?” The positioning data is a good method for answering this. It provides a good finger on the pulse of the wider market sentiment and activity.
For example you might say: “There was lots of noise about the good employment numbers in the US. However, there wasn’t actually a lot of position change on the back of it. Maybe everyone who wants to buy already has. What would happen now if bad news came out?”
In general traders will be wary of entering a crowded position because it will be hard to attract additional buyers or sellers and there could be an aggressive exit.
If you want to enter a trade that is showing extreme levels of positioning you must think carefully about this dynamic.

Bet correlation

Retail traders often drastically underestimate how correlated their bets are.
Through bitter experience, I have learned that a mistake in position correlation is the root of some of the most serious problems in trading. If you have eight highly correlated positions, then you are really trading one position that is eight times as large.
Bruce Kovner of hedge fund, Caxton Associates
For example, if you are trading a bunch of pairs against the USD you will end up with a simply huge USD exposure. A single USD-trigger can ruin all your bets. Your ideal scenario — and it isn’t always possible — would be to have a highly diversified portfolio of bets that do not move in tandem.
Look at this chart. Inverted USD index (DXY) is green. AUDUSD is orange. EURUSD is blue.

Chart from TradingView
So the whole thing is just one big USD trade! If you are long AUDUSD, long EURUSD, and short DXY you have three anti USD bets that are all likely to work or fail together.
The more diversified your portfolio of bets are, the more risk you can take on each.
There’s a really good video, explaining the benefits of diversification from Ray Dalio.
A systematic fund with access to an investable universe of 10,000 instruments has more opportunity to make a better risk-adjusted return than a trader who only focuses on three symbols. Diversification really is the closest thing to a free lunch in finance.
But let’s be pragmatic and realistic. Human retail traders don’t have capacity to run even one hundred bets at a time. More realistic would be an average of 2-3 trades on simultaneously. So what can be done?
For example:
  • You might diversify across time horizons by having a mix of short-term and long-term trades.
  • You might diversify across asset classes - trading some FX but also crypto and equities.
  • You might diversify your trade generation approach so you are not relying on the same indicators or drivers on each trade.
  • You might diversify your exposure to the market regime by having some trades that assume a trend will continue (momentum) and some that assume we will be range-bound (carry).
And so on. Basically you want to scan your portfolio of trades and make sure you are not putting all your eggs in one basket. If some trades underperform others will perform - assuming the bets are not correlated - and that way you can ensure your overall portfolio takes less risk per unit of return.
The key thing is to start thinking about a portfolio of bets and what each new trade offers to your existing portfolio of risk. Will it diversify or amplify a current exposure?

Crap trades, timeouts and monthly limits

One common mistake is to get bored and restless and put on crap trades. This just means trades in which you have low conviction.
It is perfectly fine not to trade. If you feel like you do not understand the market at a particular point, simply choose not to trade.
Flat is a position.
Do not waste your bullets on rubbish trades. Only enter a trade when you have carefully considered it from all angles and feel good about the risk. This will make it far easier to hold onto the trade if it moves against you at any point. You actually believe in it.
Equally, you need to set monthly limits. A standard limit might be a 10% account balance stop per month. At that point you close all your positions immediately and stop trading till next month.

Be strict with yourself and walk away
Let’s assume you started the year with $100k and made 5% in January so enter Feb with $105k balance. Your stop is therefore 10% of $105k or $10.5k . If your account balance dips to $94.5k ($105k-$10.5k) then you stop yourself out and don’t resume trading till March the first.
Having monthly calendar breaks is nice for another reason. Say you made a load of money in January. You don’t want to start February feeling you are up 5% or it is too tempting to avoid trading all month and protect the existing win. Each month and each year should feel like a clean slate and an independent period.
Everyone has trading slumps. It is perfectly normal. It will definitely happen to you at some stage. The trick is to take a break and refocus. Conserve your capital by not trading a lot whilst you are on a losing streak. This period will be much harder for you emotionally and you’ll end up making suboptimal decisions. An enforced break will help you see the bigger picture.
Put in place a process before you start trading and then it’ll be easy to follow and will feel much less emotional. Remember: the market doesn’t care if you win or lose, it is nothing personal.
When your head has cooled and you feel calm you return the next month and begin the task of building back your account balance.

That's a wrap on risk management

Thanks for taking time to read this three-part chapter on risk management. I hope you enjoyed it. Do comment in the replies if you have any questions or feedback.
Remember: the most important part of trading is not making money. It is not losing money. Always start with that principle. I hope these three notes have provided some food for thought on how you might approach risk management and are of practical use to you when trading. Avoiding mistakes is not a sexy tagline but it is an effective and reliable way to improve results.
Next up I will be writing about an exciting topic I think many traders should look at rather differently: news trading. Please follow on here to receive notifications and the broad outline is below.
News Trading Part I
  • Introduction
  • Why use the economic calendar
  • Reading the economic calendar
  • Knowing what's priced in
  • Surveys
  • Interest rates
  • First order thinking vs second order thinking
News Trading Part II
  • Preparing for quantitative and qualitative releases
  • Data surprise index
  • Using recent events to predict future reactions
  • Buy the rumour, sell the fact
  • The mysterious 'position trim' effect
  • Reversals
  • Some key FX releases
***

Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
submitted by getmrmarket to Forex [link] [comments]

10 Ways to Make Money Online in South Africa

There are a lot of opportunities online for anyone that wants to make a little extra money. From a part-time hustle to an all-out digital career, there are loads of ways that you can make money with an electronic device, and a connection to the internet.

  1. Paid Surveys - Did you know that thousands of South Africans earn extra income by simply participating in online surveys to help local companies improve their products? Finally, now you have an opportunity to do this as well! You can find a list of the top survey sites for South Africa HERE
  2. Selling Your Photos Online - Selling photos is a wonderful way to make money online if you have an aptitude for photography. Two popular platforms that you can try are Shutterlock and Unsplash. Every platform will have different requirements, but they will all pay you in hard cash. Though the photography market is quite hectic, it’s still a good method of gaining a passive income if you’re persistent and professional. Plus, the opportunity for additional sales is higher when your photos become popular. Many companies need photos of landscapes, and we all know that South Africa has some of the most amazing scenery in the world. In some cases, a smartphone is enough to get started, depending on the stock photo site you choose.
  3. Be a Freelance Content Writer - Freelance writing is a serious online business. The internet enters most areas of our life, and the need for blog articles and various types of content is exploding. There are many kinds of online writing work, and many people need things like product descriptions or simple reviews. Before going further in this direction, you first need to set up a blog or website. This will be an amazing portfolio where you can demonstrate to potential clients or businesses that you can deliver great work. A LinkedIn profile can be created to function as an online portfolio as well. Don’t forget that many writing clients will want to see specialized work, so be sure to consider what area you would like to specialize in. The pay for online writing varies, but with some practice, you should be able to make a decent part-time income.
  4. Sell Unwanted Goods - You can sell your unwanted stuff to people who want it and make your side business a real money maker. There’s plenty of options to use for sales such as Gumtree or Amazon. Don’t forget to do some research and see what assets have recently been sold so you have a target price. If you a business, you can sell other people’s goods as well. Many people don’t have the time or patience to sell goods online, and you can do it for them. If you charge a reasonable percentage of the sales, you can make a solid business out of selling used goods online.
  5. Build a Personal blog/website - Not only can you write for companies to gain income but you’re also able to run your own blog to raise money as well. Set your expectations at a reasonable level because this job requires consistent practice and lots of patience. Bloggers make a profit, often through press coverage, advertising products, and writing sponsored guest posts. You will need to run the blog for a while before you can expect to see any profits, but it is very simple to get started. Check out some of the other ideas on this list for ways to leverage a blog for greater income, like selling drop shipped items.
  6. Legitimate Remote Jobs can Pay Real Money - Many companies are heading to a work-from-home style of business since this type of model helps save money, and eliminates the risk of illnesses. People are completely flexible while working for a company and selecting where they decide to spend their time.CrowdSource, for example, hires remote writers, editors, and other jobs that can be done easily from anywhere. Companies like Fast Chart offer work-from-home options for medical transcriptionists. You can also try seeking opportunities at LiveOps, a call center staff. You might be surprised at how much time and money you save when you work at home. There is no transit, and you can cook for yourself. Think about it!
  7. Become a Dropshipper - Dropshipping is not a strange term, especially when eCommerce is booming. Anyone can be a drop shipper since the work requires low investment at the beginning and also guarantees minimal risk. The system operates by purchasing the stock (goods) from a third party supplier or manufacturer, who then fulfills the customer’s request. You don’t have to shop or handle goods in advance because the product comes directly from the vendors whenever an order is placed by a customer. There are many dropshipping platforms out there, and some are basically free to use. You will need to figure out how to market the goods, which is where a blog or website comes in very handy.
  8. Affiliate Marketing - Affiliate marketing is a popular method of making money online in South Africa and across the world. You can sell into a variety of markets with this business model, and make money almost anywhere. You can generate revenue from product sales. In other words, affiliate marketers will refer readers to a lot of products and get a small cut from them. Once a customereader buys products, you will earn a commission. A widely known approach is to start creating your own blog in a specific niche and to establish a trustworthy community that can purchase your promotions. Unlike dropshipping, you simply get a commission and have no other responsibilities. So easy! Check out SA’s leading affiliate network – https://www.affiliate.co.za/
  9. Online Business with Etsy - Try selling DIY designs and crafts on Etsy if you’re a skilled maker. An Etsy shop is basically free to operate, and you can make real money with the platform. Once your registration is complete, you can start posting photos of your works, and people can purchase your products. There is really no limit to what can be sold on Etsy, but make sure that you are able to send your goods to other countries, as many buyers are likely to be in the EU or North America. A PayPal account is important to have and also a popular payment choice so that customers can pay you quickly. Take nice pictures of the items to help draw purchasers into a sale. Make sure that you have good customer service as well, or you won’t be selling on the platform for very long!
  10. Forex Trading - You might have heard about trading FOREX or Contract For Difference (CFD) trading. The basics of this online money-making are simple. You will choose a currency pair, and bet on the direction of one currency vs. the other. For example, you could speculate that the EURO will appreciate vs. the RAND (or just about any currency). If you are correct, and then sell the contract, you will make profits. While this might sound easy, most people who do this lose money. In addition to currency, most retail FOREX brokers will allow you to trade in other markets, such as commodities, or shares. If you are looking for a reliable income, this probably isn’t right for you. On the other hand, if you don’t mind taking on risks, trading FOREX can be extremely profitable.
submitted by MrPassiveIncome to beermoneysouthafrican [link] [comments]

Thrills Casino (PNP) Free Spins and No Deposit Bonus

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List of supported online banks for withdrawals for each country:

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  • Forex
  • Handelsbanken
  • ICA Banken
  • Länsförsäkringar
  • Nordea
  • SEB
  • Skandiabanken
  • Sparbanken Syd
  • Swedbank

FINLAND

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  • Ålandsbanken
  • Danske Bank (Sampo)
  • Handelsbanken
  • Nordea
  • Oma Säästöpankki (OmaSp)
  • OP-Pohjola
  • POP Pankii
  • S-Pankki
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GERMANY

  • Comdirect
  • Commerzbank
  • Deutsche Bank
  • Deutsche Kreditbank (DKB)
  • HypoVereinsbank
  • ING-DiBa
  • N26
  • Noris Bank
  • Postbank
  • Sparda Bank
  • Sparkasse
  • Targobank
  • Volksbank/Raiffeisen
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submitted by freespinsbonus to u/freespinsbonus [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]

Money, Money, Money - Its always about the money!


Some economists (but not all economists) believe that the USD and the US economy is losing its integrity and may ultimately collapse.
https://www.businessinsider.com.au/dollar-crash-swelling-deficit-deglobalization-stephen-roach-coronavirus-stimulus-recession-2020-6?r=US&IR=T
https://www.bloomberg.com/opinion/articles/2020-06-14/dollar-crash-how-will-it-unfold
https://www.investopedia.com/articles/forex-currencies/091416/what-would-it-take-us-dollar-collapse.asp
https://www.nytimes.com/2020/06/06/upshot/coronavirus-economic-crisis.html
https://www.ft.com/content/d5f05b5c-7db8-11ea-8fdb-7ec06edeef84
https://markets.businessinsider.com/news/stocks/dollar-crash-swelling-deficit-deglobalization-stephen-roach-coronavirus-stimulus-recession-2020-6-1029312845?op=1
https://medium.com/@baileybarney/will-the-us-dollar-collapse-23e707f19da0

Question: If accurate, what would replace the USD as the global reserve currency?
Answer: The IMF is ready with a replacement global reserve currency called SDR's!

  1. https://www.imf.org/external/pubs/ft/fandd/2019/12/future-of-the-IMF-special-drawing-right-SDR-Ocampo.htm
" In this brave new world, is it time to rethink the SDR’s role?" (Ocampo)"The IMF should not pass up this opportunity" (Ocampo)
  1. https://www.project-syndicate.org/commentary/imf-special-drawing-right-global-currency-by-jose-antonio-ocampo-2019-04?barrier=accesspaylog
3.https://www.google.com/amp/s/amp.theguardian.com/business/2017/ap24/imf-populism-nationalism-sdr-reserve-currency
4.https://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/14/51/Special-Drawing-Right-SDR
5.https://www.theigc.org/project/the-viability-of-the-special-drawing-rights-as-an-international-reserve-asset/
6.https://www.google.com/amp/s/www.livemint.com/news/india/consensus-remains-elusive-among-g20-countries-on-fresh-sdr-allocation/amp-11595160202040.html
7.https://www.google.com/amp/s/amp.ft.com/content/43a67e06-bbeb-4bea-8939-bc29ca785b0e
8.https://www.nytimes.com/2010/02/27/business/27imf.html
9.https://www.economist.com/finance-and-economics/1998/09/24/one-world-one-money
10.https://www.google.com/amp/s/www.cityam.com/world-reserve-currencies-is-the-us-dollars-days-numbered/amp/
11.https://www.eastasiaforum.org/2019/09/22/the-dollar-shouldnt-be-the-reserve-currency-but-neither-should-the-renminbi/

Will CBDC's be created at the same time as the SDR's? Will exchange rates of CBDC's be anchored to Quotas? Is the IMF a fund or potentially more like a Central Bank for the World? How did the IMF come about?
Central Bank Digital Coins - CBDC's
https://www.imf.org/en/Publications/Staff-Discussion-Notes/Issues/2018/11/13/Casting-Light-on-Central-Bank-Digital-Currencies-46233

2.https://www.imf.org/en/News/Articles/2019/05/13/sp051419-stablecoins-central-bank-digital-currencies-and-cross-border-payments
https://www.google.com/amp/s/techwireasia.com/amp/2020/03/central-banks-are-keen-on-digital-currencies-the-imf-is-backing-them/
3.
https://m.economictimes.com/markets/stocks/news/central-banks-wake-up-to-digital-currency-create-new-framework-with-wef/articleshow/73554517.cms
4.
https://www.forbes.com/sites/pawelkuskowski/2020/06/07/central-bank-digital-currencies-cbdc-a-crisis-recovery-tool-for-governments/5.
https://www.weforum.org/press/2020/01/central-banks-waking-up-to-digital-currency-create-new-framework-for-cbdc-deployment-with-world-economic-forum-177ca5d9ee/6.
https://www.theblockcrypto.com/linked/41243/imf-officials-say-synthetic-cbdc-with-a-public-private-partnership-is-the-better-option7.
https://blockchain.news/insight/private-firms-can-boost-innovation-of-central-bank-digital-currencysays-imf-8.
https://coinidol.com/official-promote-digital-currency/9.
https://bitcoinexchangeguide.com/top-imf-official-calls-for-synthetic-central-bank-digital-currencies-cbdc-development/10
  1. England:https://www.bloomberg.com/amp/news/articles/2020-07-13/bank-of-england-debating-digital-currency-creation-bailey-says
  2. USA:https://www.forbes.com/sites/jasonbrett/2020/03/23/new-coronavirus-stimulus-bill-introduces-digital-dollar-and-digital-dollar-wallets/amp/
https://www.google.com/amp/s/www.wsj.com/amp/articles/fed-digital-dollars-are-part-of-debate-over-coronavirus-stimulus-11585085518
  1. Australiahttps://www.businessinsider.com.au/the-rba-has-been-secretly-working-on-an-all-digital-version-of-the-australian-dollar-but-it-may-not-release-it-to-the-public-at-all-2020-1
https://www.rba.gov.au/publications/submissions/payments-system/financial-and-regulatory-technology/
  1. Canadahttps://www.ledgerinsights.com/canada-exploring-consumer-cbdc/
  2. Swedenhttps://www.google.com/amp/s/cointelegraph.com/news/sweden-is-testing-its-new-central-bank-digital-currency/amp
  3. Norwayhttps://www.norges-bank.no/en/news-events/news-publications/News-items/2019/2019-06-27-cbdc/
  4. European Unionhttps://www.google.com/amp/s/finance.yahoo.com/amphtml/news/dutch-central-bank-wants-european-191627776.html
  5. Singaporehttps://chainbulletin.com/singapore-ready-to-explore-cbdc-together-with-china/amp/
  6. New Zealand:https://investmentnews.co.nz/investment-news/digital-central-bank-money-tipped-for-world-dominance/
  7. Chinahttps://www.ledgerinsights.com/china-central-bank-digital-currency-cbdc-renminbi-dolla

SideNote:

The World Economic Forum is planning a major event for January of 2021 that will focus on the "Great Reset" and the "4th Industrial Revolution".
https://www.weforum.org/great-reset/
https://www.weforum.org/agenda/2016/01/what-is-the-fourth-industrial-revolution/

Prince Charles wants to reset - Do you?
https://www.theguardian.com/uk-news/2020/jun/03/pandemic-is-chance-to-reset-global-economy-says-prince-charles

What are they gonna reset?

TL:DR
!. Potential collapse of the US dollar.
  1. Replaced by IMF SDR's
3.Complimented by new CBDC's
  1. How is this connection the WEF "Great Reset..
Its time to read, learn and share!

Edit = Added TL:DR
submitted by andrew77mc to conspiracy [link] [comments]

[D] When will the CS:GO market die?

Introduction
Just thought it might be interesting to discuss the thought that one day the CS market will die.
With real-life markets, there is the expectation that companies, currencies, and commodities will continue to be relevant/traded for decades. This means that they can be invested in for long term gains.
Can the same be said for the CS:GO market? The prices in the market are determined by a multitude of factors, but the most important of which is simply the demand/relevancy of CSGO.
I personally don't think it will happen for at least a few more years. But seriously think, will there be a market for CS items in 10 years? 20 years?
It just interests me because I always see people say they're 'holding items for the long term' but how does that translate when the market lifespan could be finite.
_
About me (if you care)
I've been playing CSGO on and off since my late teens and started investing since Cologne 2014.
Back then I thought a Katowice sticker selling for more than £10 was a joke.
For transparency, The main investments I hold are Cologne 2014, Dreamhack 2014, Katowice 2015, Sticker capsule 2s and Winter offensive cases. All bought during their respective steam sales.
Most of my investments have been cashed out recently (thank you China) with my inventory only being around 20% of what it once was.
IRL I'm involved in financial management for work but I do not regularly trade on the forex/stock market. My knowledge of markets and trends is from parts of my professional qualification and personal experience.
_
What would be the cause of the markets death?
There are a few factors that could cause CS GO and the demand for items to fall to near zero:
_
What are the factors that could extend the longevity of the market?
These are quite obviously the opposite of the above factors.
_
Questions
Thanks for reading and I'd be interested to read other peoples thoughts.
submitted by Ranger_1990 to csgomarketforum [link] [comments]

CRYPTOCURRENCY BITCOIN

CRYPTOCURRENCY BITCOIN
Bitcoin Table of contents expand: 1. What is Bitcoin? 2. Understanding Bitcoin 3. How Bitcoin Works 4. What's a Bitcoin Worth? 5. How Bitcoin Began 6. Who Invented Bitcoin? 7. Before Satoshi 8. Why Is Satoshi Anonymous? 9. The Suspects 10. Can Satoshi's Identity Be Proven? 11. Receiving Bitcoins As Payment 12. Working For Bitcoins 13. Bitcoin From Interest Payments 14. Bitcoins From Gambling 15. Investing in Bitcoins 16. Risks of Bitcoin Investing 17. Bitcoin Regulatory Risk 18. Security Risk of Bitcoins 19. Insurance Risk 20. Risk of Bitcoin Fraud 21. Market Risk 22. Bitcoin's Tax Risk What is Bitcoin?
Bitcoin is a digital currency created in January 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity is yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies.
There are no physical bitcoins, only balances kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite it not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of other virtual currencies collectively referred to as Altcoins.
Understanding Bitcoin Bitcoin is a type of cryptocurrency: Balances are kept using public and private "keys," which are long strings of numbers and letters linked through the mathematical encryption algorithm that was used to create them. The public key (comparable to a bank account number) serves as the address which is published to the world and to which others may send bitcoins. The private key (comparable to an ATM PIN) is meant to be a guarded secret and only used to authorize Bitcoin transmissions. Style notes: According to the official Bitcoin Foundation, the word "Bitcoin" is capitalized in the context of referring to the entity or concept, whereas "bitcoin" is written in the lower case when referring to a quantity of the currency (e.g. "I traded 20 bitcoin") or the units themselves. The plural form can be either "bitcoin" or "bitcoins."
How Bitcoin Works Bitcoin is one of the first digital currencies to use peer-to-peer technology to facilitate instant payments. The independent individuals and companies who own the governing computing power and participate in the Bitcoin network, also known as "miners," are motivated by rewards (the release of new bitcoin) and transaction fees paid in bitcoin. These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network. New bitcoin is being released to the miners at a fixed, but periodically declining rate, such that the total supply of bitcoins approaches 21 million. One bitcoin is divisible to eight decimal places (100 millionths of one bitcoin), and this smallest unit is referred to as a Satoshi. If necessary, and if the participating miners accept the change, Bitcoin could eventually be made divisible to even more decimal places. Bitcoin mining is the process through which bitcoins are released to come into circulation. Basically, it involves solving a computationally difficult puzzle to discover a new block, which is added to the blockchain and receiving a reward in the form of a few bitcoins. The block reward was 50 new bitcoins in 2009; it decreases every four years. As more and more bitcoins are created, the difficulty of the mining process – that is, the amount of computing power involved – increases. The mining difficulty began at 1.0 with Bitcoin's debut back in 2009; at the end of the year, it was only 1.18. As of February 2019, the mining difficulty is over 6.06 billion. Once, an ordinary desktop computer sufficed for the mining process; now, to combat the difficulty level, miners must use faster hardware like Application-Specific Integrated Circuits (ASIC), more advanced processing units like Graphic Processing Units (GPUs), etc.
What's a Bitcoin Worth? In 2017 alone, the price of Bitcoin rose from a little under $1,000 at the beginning of the year to close to $19,000, ending the year more than 1,400% higher. Bitcoin's price is also quite dependent on the size of its mining network since the larger the network is, the more difficult – and thus more costly – it is to produce new bitcoins. As a result, the price of bitcoin has to increase as its cost of production also rises. The Bitcoin mining network's aggregate power has more than tripled over the past twelve months.
How Bitcoin Began
Aug. 18, 2008: The domain name bitcoin.org is registered. Today, at least, this domain is "WhoisGuard Protected," meaning the identity of the person who registered it is not public information.
Oct. 31, 2008: Someone using the name Satoshi Nakamoto makes an announcement on The Cryptography Mailing list at metzdowd.com: "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. The paper is available at http://www.bitcoin.org/bitcoin.pdf." This link leads to the now-famous white paper published on bitcoin.org entitled "Bitcoin: A Peer-to-Peer Electronic Cash System." This paper would become the Magna Carta for how Bitcoin operates today.
Jan. 3, 2009: The first Bitcoin block is mined, Block 0. This is also known as the "genesis block" and contains the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," perhaps as proof that the block was mined on or after that date, and perhaps also as relevant political commentary.
Jan. 8, 2009: The first version of the Bitcoin software is announced on The Cryptography Mailing list.
Jan. 9, 2009: Block 1 is mined, and Bitcoin mining commences in earnest.
Who Invented Bitcoin?
No one knows. Not conclusively, at any rate. Satoshi Nakamoto is the name associated with the person or group of people who released the original Bitcoin white paper in 2008 and worked on the original Bitcoin software that was released in 2009. The Bitcoin protocol requires users to enter a birthday upon signup, and we know that an individual named Satoshi Nakamoto registered and put down April 5 as a birth date. And that's about it.
Before Satoshi
Though it is tempting to believe the media's spin that Satoshi Nakamoto is a solitary, quixotic genius who created Bitcoin out of thin air, such innovations do not happen in a vacuum. All major scientific discoveries, no matter how original-seeming, were built on previously existing research. There are precursors to Bitcoin: Adam Back’s Hashcash, invented in 1997, and subsequently Wei Dai’s b-money, Nick Szabo’s bit gold and Hal Finney’s Reusable Proof of Work. The Bitcoin white paper itself cites Hashcash and b-money, as well as various other works spanning several research fields.
Why Is Satoshi Anonymous?
There are two primary motivations for keeping Bitcoin's inventor keeping his or her or their identity secret. One is privacy. As Bitcoin has gained in popularity – becoming something of a worldwide phenomenon – Satoshi Nakamoto would likely garner a lot of attention from the media and from governments.
The other reason is safety. Looking at 2009 alone, 32,489 blocks were mined; at the then-reward rate of 50 BTC per block, the total payout in 2009 was 1,624,500 BTC, which at today’s prices is over $900 million. One may conclude that only Satoshi and perhaps a few other people were mining through 2009 and that they possess a majority of that $900 million worth of BTC. Someone in possession of that much BTC could become a target of criminals, especially since bitcoins are less like stocks and more like cash, where the private keys needed to authorize spending could be printed out and literally kept under a mattress. While it's likely the inventor of Bitcoin would take precautions to make any extortion-induced transfers traceable, remaining anonymous is a good way for Satoshi to limit exposure.
The Suspects
Numerous people have been suggested as possible Satoshi Nakamoto by major media outlets. Oct. 10, 2011, The New Yorker published an article speculating that Nakamoto might be Irish cryptography student Michael Clear or economic sociologist Vili Lehdonvirta. A day later, Fast Company suggested that Nakamoto could be a group of three people – Neal King, Vladimir Oksman and Charles Bry – who together appear on a patent related to secure communications that were filed two months before bitcoin.org was registered. A Vice article published in May 2013 added more suspects to the list, including Gavin Andresen, the Bitcoin project’s lead developer; Jed McCaleb, co-founder of now-defunct Bitcoin exchange Mt. Gox; and famed Japanese mathematician Shinichi Mochizuki.
In December 2013, Techcrunch published an interview with researcher Skye Grey who claimed textual analysis of published writings shows a link between Satoshi and bit-gold creator Nick Szabo. And perhaps most famously, in March 2014, Newsweek ran a cover article claiming that Satoshi is actually an individual named Satoshi Nakamoto – a 64-year-old Japanese-American engineer living in California. The list of suspects is long, and all the individuals deny being Satoshi.
Can Satoshi's Identity Be Proven?
It would seem even early collaborators on the project don’t have verifiable proof of Satoshi’s identity. To reveal conclusively who Satoshi Nakamoto is, a definitive link would need to be made between his/her activity with Bitcoin and his/her identity. That could come in the form of linking the party behind the domain registration of bitcoin.org, email and forum accounts used by Satoshi Nakamoto, or ownership of some portion of the earliest mined bitcoins. Even though the bitcoins Satoshi likely possesses are traceable on the blockchain, it seems he/she has yet to cash them out in a way that reveals his/her identity. If Satoshi were to move his/her bitcoins to an exchange today, this might attract attention, but it seems unlikely that a well-funded and successful exchange would betray a customer's privacy.
Receiving Bitcoins As Payment
Bitcoins can be accepted as a means of payment for products sold or services provided. If you have a brick and mortar store, just display a sign saying “Bitcoin Accepted Here” and many of your customers may well take you up on it; the transactions can be handled with the requisite hardware terminal or wallet address through QR codes and touch screen apps. An online business can easily accept bitcoins by just adding this payment option to the others it offers, like credit cards, PayPal, etc. Online payments will require a Bitcoin merchant tool (an external processor like Coinbase or BitPay).
Working For Bitcoins
Those who are self-employed can get paid for a job in bitcoins. There are several websites/job boards which are dedicated to the digital currency:
Work For Bitcoin brings together work seekers and prospective employers through its websiteCoinality features jobs – freelance, part-time and full-time – that offer payment in bitcoins, as well as Dogecoin and LitecoinJobs4Bitcoins, part of reddit.comBitGigs
Bitcoin From Interest Payments
Another interesting way (literally) to earn bitcoins is by lending them out and being repaid in the currency. Lending can take three forms – direct lending to someone you know; through a website which facilitates peer-to-peer transactions, pairing borrowers and lenders; or depositing bitcoins in a virtual bank that offers a certain interest rate for Bitcoin accounts. Some such sites are Bitbond, BitLendingClub, and BTCjam. Obviously, you should do due diligence on any third-party site.
Bitcoins From Gambling
It’s possible to play at casinos that cater to Bitcoin aficionados, with options like online lotteries, jackpots, spread betting, and other games. Of course, the pros and cons and risks that apply to any sort of gambling and betting endeavors are in force here too.
Investing in Bitcoins
There are many Bitcoin supporters who believe that digital currency is the future. Those who endorse it are of the view that it facilitates a much faster, no-fee payment system for transactions across the globe. Although it is not itself any backed by any government or central bank, bitcoin can be exchanged for traditional currencies; in fact, its exchange rate against the dollar attracts potential investors and traders interested in currency plays. Indeed, one of the primary reasons for the growth of digital currencies like Bitcoin is that they can act as an alternative to national fiat money and traditional commodities like gold.
In March 2014, the IRS stated that all virtual currencies, including bitcoins, would be taxed as property rather than currency. Gains or losses from bitcoins held as capital will be realized as capital gains or losses, while bitcoins held as inventory will incur ordinary gains or losses.
Like any other asset, the principle of buying low and selling high applies to bitcoins. The most popular way of amassing the currency is through buying on a Bitcoin exchange, but there are many other ways to earn and own bitcoins. Here are a few options which Bitcoin enthusiasts can explore.
Risks of Bitcoin Investing
Though Bitcoin was not designed as a normal equity investment (no shares have been issued), some speculative investors were drawn to the digital money after it appreciated rapidly in May 2011 and again in November 2013. Thus, many people purchase bitcoin for its investment value rather than as a medium of exchange.
However, their lack of guaranteed value and digital nature means the purchase and use of bitcoins carries several inherent risks. Many investor alerts have been issued by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Consumer Financial Protection Bureau (CFPB), and other agencies.
The concept of a virtual currency is still novel and, compared to traditional investments, Bitcoin doesn't have much of a long-term track record or history of credibility to back it. With their increasing use, bitcoins are becoming less experimental every day, of course; still, after eight years, they (like all digital currencies) remain in a development phase, still evolving. "It is pretty much the highest-risk, highest-return investment that you can possibly make,” says Barry Silbert, CEO of Digital Currency Group, which builds and invests in Bitcoin and blockchain companies.
Bitcoin Regulatory Risk
Investing money into Bitcoin in any of its many guises is not for the risk-averse. Bitcoins are a rival to government currency and may be used for black market transactions, money laundering, illegal activities or tax evasion. As a result, governments may seek to regulate, restrict or ban the use and sale of bitcoins, and some already have. Others are coming up with various rules. For example, in 2015, the New York State Department of Financial Services finalized regulations that would require companies dealing with the buy, sell, transfer or storage of bitcoins to record the identity of customers, have a compliance officer and maintain capital reserves. The transactions worth $10,000 or more will have to be recorded and reported.
Although more agencies will follow suit, issuing rules and guidelines, the lack of uniform regulations about bitcoins (and other virtual currency) raises questions over their longevity, liquidity, and universality.
Security Risk of Bitcoins
Bitcoin exchanges are entirely digital and, as with any virtual system, are at risk from hackers, malware and operational glitches. If a thief gains access to a Bitcoin owner's computer hard drive and steals his private encryption key, he could transfer the stolen Bitcoins to another account. (Users can prevent this only if bitcoins are stored on a computer which is not connected to the internet, or else by choosing to use a paper wallet – printing out the Bitcoin private keys and addresses, and not keeping them on a computer at all.) Hackers can also target Bitcoin exchanges, gaining access to thousands of accounts and digital wallets where bitcoins are stored. One especially notorious hacking incident took place in 2014, when Mt. Gox, a Bitcoin exchange in Japan, was forced to close down after millions of dollars worth of bitcoins were stolen.
This is particularly problematic once you remember that all Bitcoin transactions are permanent and irreversible. It's like dealing with cash: Any transaction carried out with bitcoins can only be reversed if the person who has received them refunds them. There is no third party or a payment processor, as in the case of a debit or credit card – hence, no source of protection or appeal if there is a problem.
Insurance Risk
Some investments are insured through the Securities Investor Protection Corporation. Normal bank accounts are insured through the Federal Deposit Insurance Corporation (FDIC) up to a certain amount depending on the jurisdiction. Bitcoin exchanges and Bitcoin accounts are not insured by any type of federal or government program.
Risk of Bitcoin Fraud
While Bitcoin uses private key encryption to verify owners and register transactions, fraudsters and scammers may attempt to sell false bitcoins. For instance, in July 2013, the SEC brought legal action against an operator of a Bitcoin-related Ponzi scheme.
Market Risk
Like with any investment, Bitcoin values can fluctuate. Indeed, the value of the currency has seen wild swings in price over its short existence. Subject to high volume buying and selling on exchanges, it has a high sensitivity to “news." According to the CFPB, the price of bitcoins fell by 61% in a single day in 2013, while the one-day price drop in 2014 has been as big as 80%.
If fewer people begin to accept Bitcoin as a currency, these digital units may lose value and could become worthless. There is already plenty of competition, and though Bitcoin has a huge lead over the other 100-odd digital currencies that have sprung up, thanks to its brand recognition and venture capital money, a technological break-through in the form of a better virtual coin is always a threat.
Bitcoin's Tax Risk
As bitcoin is ineligible to be included in any tax-advantaged retirement accounts, there are no good, legal options to shield investments from taxation.
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Related Terms
Satoshi
The satoshi is the smallest unit of the bitcoin cryptocurrency. It is named after Satoshi Nakamoto, the creator of the protocol used in block chains and the bitcoin cryptocurrency.
Chartalism Chartalism is a non-mainstream theory of money that emphasizes the impact of government policies and activities on the value of money.
Satoshi Nakamoto The name used by the unknown creator of the protocol used in the bitcoin cryptocurrency. Satoshi Nakamoto is closely-associated with blockchain technology.
Bitcoin Mining, Explained Breaking down everything you need to know about Bitcoin Mining, from Blockchain and Block Rewards to Proof-of-Work and Mining Pools.
Understanding Bitcoin Unlimited Bitcoin Unlimited is a proposed upgrade to Bitcoin Core that allows larger block sizes. The upgrade is designed to improve transaction speed through scale.
Blockchain Explained
A guide to help you understand what blockchain is and how it can be used by industries. You've probably encountered a definition like this: “blockchain is a distributed, decentralized, public ledger." But blockchain is easier to understand than it sounds.
Top 6 Books to Learn About Bitcoin About UsAdvertiseContactPrivacy PolicyTerms of UseCareers Investopedia is part of the Dotdash publishing family.The Balance Lifewire TripSavvy The Spruceand more
By Satoshi Nakamoto
Read it once, go read other crypto stuff, read it again… keep doing this until the whole document makes sense. It’ll take a while, but you’ll get there. This is the original whitepaper introducing and explaining Bitcoin, and there’s really nothing better out there to understand on the subject.
“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party

submitted by adrian_morrison to BlockchainNews [link] [comments]

Apple banned cryptocurrencies purchasing for the Apple Card

Apple banned cryptocurrencies purchasing for the Apple Card
Users of the Apple Card, developed by Apple in partnership with Goldman Sachs investment bank and Mastercard, will not be able to buy cryptocurrency. Also, they can’t purchase casino gaming chips and lottery tickets, as well as betting on sweepstakes, the user agreement says.
https://preview.redd.it/z3t48wvu5ne31.jpg?width=740&format=pjpg&auto=webp&s=0d7d4574bc48abce718ae1cfdfd91d35dd3a63eb
According to the document, users are not allowed to use the Apple Card to receive cash loans and cash equivalents, along with “any illegal activity, including gambling on domestic or international websites or the purchase of illegal products or services.”
In particular, Goldman Sachs equates “the purchase of traveler’s checks, foreign currency or cryptocurrency” to the acquisition of cash equivalents.
It should be noted that Apple introduced the Apple Card in March 2019. You will be able to release a virtual card - and within a few minutes, it will be active thanks to Apple Wallet app.
You can pay with the card wherever Apple Pay works. For Apple Card users, there will be no annual fees, late fees, or fees for exceeding the limit. Also, the service involves the accrual of cashback - 2% of any purchases and 3% of purchases in Apple services.
Apple management noted that the company will not be aware of how much you spend and what you buy, so this data will not be available to third parties.
The application allows you to track statistics on purchasing, automatically distributing it into categories and adding the address where the purchase was made. The app uses artificial intelligence and geolocation data from Apple Maps for statistics. Later, Apple CEO Tim Cook announced that the Apple Card would appear in the US in August 2019.
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submitted by Itrader_com to u/Itrader_com [link] [comments]

Incredible, all Qubic payouts will be with IOTA tokens

The text is lengthy, but this is what I've gathered from reading the posted content.
Qubics are smart contracts tied to real world data by oracles. What makes these oracles special and accurate is that it can use several oracles to provide a % result or confidence interval. The creator of the Qubic will set the % consensus required to trigger a true or false result. The rewards for the oracles are ALL PAID IN IOTA which should lock up the IOTA in the QUBIC transaction until triggered by metadata that the owner of the Qubic writes. The IOTA is paid out as a reward to the oracles for their proof of work or computation.
I.E. Warriors vs Cavaliers. You want to place a bet with 365bet so they write a Qubic that pays you x odds if Cavaliers win. They want a 100% consensus and want to verify it with 5 oracles. If all 5 oracles show results of Cavs winning, they pay you, and they pay the rewards to the oracles for verifying the computations in IOTA.
This has enormous implication for much more than gambling of course. It can be used to transact puts, calls, shorts,buys, sells etc in the financial markets using real world data provided by oracles. Just a quick google search shows that dated september 2015 over 315 billion shares are traded PER DAY. The forex example provide on the qubic site is another great example of massive implications of QUBIC.
The Internet of Things (IOT) implications are also massive. Since all data from the oracles are posted to the Tangle, IOT devices can gather data from the tangle from other Qubics and can be used to execute other Qubics.
" In other words, qubics can live on the Tangle in a dormant state. When specific input data becomes available or changes, they will "awaken" and begin processing, which may result in a cascade of other qubics waking up as new results become available."
We will soon be able to set smart contracts that will be triggered by real world data via oracles in a trustless and decentralized manner. The IOTA ecosystem using Qubic and the Tangle is going to have enormous real world applications.
Please add data and correct where I have misinterpreted or misunderstood.
submitted by cmthai84 to Iota [link] [comments]

Dear Redditors, Please read to avoid my mistakes

Hi there,
Please don't be discouraged about me being a new account. I am a reader, its just in my nature to not really post anything, i tend to just lurk around. And looking at other threads/posts I know how you guys don't really take new accounts serious.
Im a 24 year old sinology bachelor, currently studying for one year in Kunming, China at the Yunnan Normal University. My story with bitcoins began like 7 years or so ago when my father showed me an article about bitcoins. quite new back then. He though it was worth getting interested in the technology but back then I didnt really have anything to invest, not did i really care that much for investment(lifes good when you have nothing but games on your mind)
I finally wanted to get into bitcoins around 4 years ago, i think it was the time when one bitcoin was around 800 dollars. I wanted to invest the money I had saved up over the years, i didnt really travel, had no real expenses just earned some money here and there in online games, especially Entropia Universe(which was kinda a virtual casino back in the good days, had a lot of luck too :)) I had just began my Chinese studies in Poland. At first my investment was a complete horror, i couldnt focus, couldnt do anything really but to check the bitcoin prices. But the price kept going up, which did make me happy, up untill 1200... when it crashed. I did panic sell as soon as I realized what had happened, did make a small loss, but looking further i did the right thing as bitcoin had crashed to 200 dollars, couldve been much worse. I had lost confidence in bitcoin, despite having read a ton about it all i really wanted was some inner peace, as it was nerve wrecking. 2 years later I once again decided to get into bitcoins, the price was at around 400 dollars, still cheaper than at what I had bought it at first. However, I used the polish exchange bitcurex. I had invested around 20000 polish zloty, which at that time was around 6600 dollars i believe. I never sent the bitcoins to a wallet because in the back of my head kept lurking the situation from 2 years before, that i might be forced to panic sell to avoid huge losses. That was a mistake the exchange shut down, along with my investment. As you can probably imagine, it took me a long time to get over the fact. I did my best to totally avoid anything bitcoin related, begged others to never mention them to me again.
I did get over it... untill it exploded. The prices After the news of Japan legalizing it just kept going up, it became ridiculous, i wanted to get back in but in the back of my head kept lurking the crash from 2014, mentally disabling me. Guess how I felt constantly calculating what i could have had, basically allowing me to live my life without any financial worries. Every day it just destroyed me. I became obsessed with the bitcoin price, hating myself for not doing anything. I didn't really save up much more since the time of the bitcurex shut down but I did have an euro savings account which my grandmother set up for an emergency. There was around 4000 euro on it, it took me a while but seeing as the price surged upwards i just figured it might be better invested in bitcoins, of course knowing that IF something happens im sure I could figure a way to get the money back. This time i chose bitmarket.pl also a polish exchange accepting euros, also easy to get into, you can transfer money into the exchange after verifying with your passport. I did of course read a lot about the exchange making sure it wont let me down like bitcurex. The fear of the crash in the back of my head got weak as i justified the price rise to japans legalization and didnt really think that a crash could happen. I was convinced it would keep going up not down. And it did go up, again I couldnt focus on absolutely anything but the bitcoin price, totally obsessed with graphs, every news and so on. After a few stressfull days, i kept getting calmer as i already was having a profit. But, the price crashed again, and again i sold, again with a loss. Well, discouraged again, i hated myself for trusting bitcoins, and i hated bitcoins, mainly because of the mass of nerve wrecking pain they gave me, feeling it everywhere, from head to toe, nerves going haywire.
Anyways, the last part, bear with me, this is where the shit hits the fan. Since the first crash after japan i took a break, again. I didnt think the stress was worth any amount of money, seriously, it destroyed me and consumed me. I did not withdraw the money from the exchange as i wanted to wait for the crash to settle and maybe buy back in. Although I was ready to withdraw right away really, i kept holding... cash :p. It didnt seem right to withdraw less than I invested. I became obsessed with graphs, with bitcoin news. Staring at the damn things for hours, checking them as soon as i remember. They were there, in the back of my head.... all the time. i figured it wasnt worth it, i knew how much it would consume me if i had money invested and I had just a few months to finally get my bachelors degree. I observed the market over the next months, hurting inside for not doing anything, but i was happy without the stress these things gave me over the years, maybe it was meant to be. But... end of october i came across the news about yet another hard fork, the mid november fork. It seemed obvious to me that the price would go up so I once again, one month ago, decided to finally just go for it again. This time using a feature of the exchange, the forex. I called all my friends and family and scraped together around 21k polish zloty. For that I bought my bitcoins at around 23.5. I used the exchange for a loan so in total i had 150k invested. It went well, thankfully, and as soon as i heard of the fork cancelling i decided to sell and be done with it. It was a success, I was happy for making some money, happy i could share with friends and family. Feeling i god damn deserved a reward for all the stress and time invested in this. Finally feeling a sense of accomplishment.
However, my current studies in China suffered majorly, again... couldnt really focus on these damn chinese characters. Its nowhere near as much as it could have been with the funds lost to bitcurex, hell i probably could also show off with a tesla right now(which i most definitely would not have, i had other plans, moving to new zealand) I was done there and then, but i kept looking at the graphs, seeing the crash, then the huge rise, then the news and this super legends prediction of 15k by the end of this year. After 10k people stopped believing in a crash, even here on the reddit forums.. I decided to go for it again, i waited a long time though, the bitcoin price was at 9800 dollars when i decided to buy in again. It hurt, considering i could have done it earlier, but i was so stressed out i needed the rest, even if it meant not making money. But the guilt of not acting got to me. Trying to make up for lost time and having imagined the possibilities what could be achieved with a bigger amount of money i invested everything i earned from the previous gains. I again set up the forex, investing a total of 300k. It didnt seem real to me that any real crash on the polish exchange could happen. By the time finex reached 10500 the polish exchange was still like 3k polish zloty behind, which did seem like a lot. It was even more for the japanese, which was over 5k ahead. It seemed like a good time to go in. So I did, this time confident, after the polish exchange price went from 35k to 39k i didnt really think it could affect my loans. Then I saw the crash happening, the huge red candle. like 4000 bitcoins sold on finex in just a minute. I saw it from minute 1, being obsessed with graphs Ive been staring at them most of the time for the past weeks, ... huge candle, still time to sell on the polish exchange... and then my VPN disconnected (Nord VPN), all i managed to sell was one forex order before the disconnect, it didnt take long for it to reconnect but it was too late, the polish exchange went nuts, absolutely nuts, the price dropped from 39k to 31k in less than 5 minutes, it was so clogged that I barely could refresh the site. What does that mean for me? Well, all my loans got cancelled, within 5 minutes, i went from almost 2 bitcoins to 0, Yeah 5 minutes was all it took for the exchange to lose 1/4 of the price HOW?? it was still at least 5k behind japan and 3k behing america WHY?? And all I really needed for the exchange was to drop 2k less, it all just seemed wrong, so wrong. The exchange is also offline as I write this.
This is a screenshot which i send to my cousin, who also is my best friend shortly before the crash asking if I should sell, http://i68.tinypic.com/28saers.png
what might sound unbelievable, his sister was giving birth, today, so he wasnt here for the crash, nor could he have given me advice, but he was there for the birth of the baby. Its all good though we wanted to put half of the earned bitcoins into an account for the new child, it was my idea too. So the day aint all that bad right? right? Maybe it was all equivalent exchange, I had to lose for it to gain, the price had to be paid? Gotta get these excuses rolling to justify what happened. Here is my conversation with my cousin, i sent him the pic of my bitcoins at basically the same time he told me his sister is giving birth. All just a few minutes before the crash. Its in polish though, if you understand it :p
Now the fun part, i felt relieved, so relieved you cant imagine, these bitcoins consumed my live for the past years, consumed my thoughts, hell i had dates i cancelled because i saw market instability... I felt relieved that there is no way back, so relieved and free from this addiction, unfortunately that feeling didnt last... In the end bitcoins kicked me in the nuts, well, maybe I did myself, maybe the panic sellers on the polish exchange did, maybe the exchange itself manipulated fools like me, hell, i dont really want to think about it anymore, i want my peace of mind, but it aint that easy, not with having lost all my money. I did have plans, but these dont matter anymore, what matters is the money I have promised to others, I do want to pay them back I just think its not fair, not considering how much time, how much stress i invested into them. This cannot be, at least for now I cant comprehend what just happened.
I hope I didnt write too much, it does help though. I just feel i needed to get this out there To all the new guys, loans on exchanges are a dangerous thing, my friend not so long ago lost a ton of money by using them betting on oil prices, should have listened, all it took him was one night to lose all his too. I guess you should listen to the majority and just HODL what you have and be happy with it, and definitely dont waste your nerves like I did, looking back now... I dont know... it seems kinda ridiculous. Oh and the baby, yep, all healthy and ugly.
If you can and believe me, feel free to, if not, good luck either way. I do not plan to continue trading like a did, i just want to lose the sense of extreme loss, its devastating. Its actually 4am here in China, started writing this because I cant really sleep, and probably wont for the night.
12A3qkh9ykjqwkvUPSY32zaERx75dzbZCG
submitted by willithesm to BitcoinBeginners [link] [comments]

Etoro Support 1844^663^4837 Etoro Phone number gfjh

Etoro Support 1844^663^4837 Etoro Phone number gfjh
Social exchanging, as opposed to customary or traditional money related exchanging, utilizes the innovations and systems of internet based life stages, for example, publicly supporting and substance that originates from clients in a market exchanging stage. Similarly as the power and fame of web based life stages can be founded on the substance created by client – posts, articles, recordings and exhibitions, which are related with online life you can discover on a virtual divider – a social exchanging stage works on similar standards.

The eToro stage is a straightforward social exchanging stage that enables clients to pursue and copy others in their exchanging exercises without presenting dangers to their own portfolio. This likewise implies you can remain breakthrough on news of any sort on the online life stage, with remarks, tips, suppositions, and certainties from regarded specialists. Through the social exchanging stage, you can likewise track and duplicate effective merchants in an open and clear way.

EToro – venture online networking

eToro's rationality is to urge everybody to take part in social exchange – and this comprehensiveness reaches out to the WYSIWYG interface; you can without much of a stretch set up your record and begin exchanging. There are likewise an assortment of manners by which the stage pulls in you – regardless of whether you have led any exchanges or you are simply as yet seeing the data and choosing the fundamental cash sets to exchange.

Individuals in eToro welcome the experience of extreme clients. With regards to exchanging the market, it's customarily exhausting and completely dry, however with the assistance of portable applications and an online stage that takes you to the market and into the universe of the web based exchanging network with right around three million clients, eToro transforms exchanging into a delight so that even immediate contenders endeavor to copy it.

Record stores

eToro acknowledges stores by means of Paypal, MoneyGram, Neteller, and WebMoney, notwithstanding charge card stores and bank exchanges. Contingent upon the chose subsidizing channel, the underlying least store prerequisite could be either $200 or $500. For money out, the client should total and present an online application. eToro's site offers broad direction on the money in and money out procedures.

Exchanging stage

Up until this point, being the most extraordinary and creative exchanging stage in the cutting edge Forex advertise, the eToro program enables you to think about betting an ordeal for the broker (truth about Forex).

The eToro mark is a superb prologue to the idea of social exchanging – for the two apprentices and specialists. Anybody can see the course in which most dealers work. All subtleties are situated on the interface, which plainly indicates what is currently important and where the lion's share is moving. You simply pick what to exchange; sign an agreement, more often than not for one moment of exchanging; and sit tight for the outcome. You can make more than one exchange in the meantime.

Additional intriguing highlights of eToro incorporate versatile applications and stock exchanging. Portable Apps, for example, the eTrader, are extraordinarily simple to make exchanges with when you are in a hurry and outside your office. In contrast to other social exchanging stages, eToro likewise has propelled usefulness with regards to contributing and stock offers exchanging.
submitted by Raazfde to u/Raazfde [link] [comments]

Etoro Number 1844 663 4837 Etoro Support Numbe gfh

Etoro Number 1844 663 4837 Etoro Support Numbe gfh
he eToro stage is a straightforward social exchanging stage that enables clients to pursue and copy others in their exchanging exercises without presenting dangers to their own portfolio. This likewise implies you can remain breakthrough on news of any sort on the online life stage, with remarks, tips, suppositions, and certainties from regarded specialists. Through the social exchanging stage, you can likewise track and duplicate effective merchants in an open and clear way.

EToro – venture online networking

eToro's rationality is to urge everybody to take part in social exchange – and this comprehensiveness reaches out to the WYSIWYG interface; you can without much of a stretch set up your record and begin exchanging. There are likewise an assortment of manners by which the stage pulls in you – regardless of whether you have led any exchanges or you are simply as yet seeing the data and choosing the fundamental cash sets to exchange.

Individuals in eToro welcome the experience of extreme clients. With regards to exchanging the market, it's customarily exhausting and completely dry, however with the assistance of portable applications and an online stage that takes you to the market and into the universe of the web based exchanging network with right around three million clients, eToro transforms exchanging into a delight so that even immediate contenders endeavor to copy it.

Record stores

eToro acknowledges stores by means of Paypal, MoneyGram, Neteller, and WebMoney, notwithstanding charge card stores and bank exchanges. Contingent upon the chose subsidizing channel, the underlying least store prerequisite could be either $200 or $500. For money out, the client should total and present an online application. eToro's site offers broad direction on the money in and money out procedures.

Exchanging stage

Up until this point, being the most extraordinary and creative exchanging stage in the cutting edge Forex advertise, the eToro program enables you to think about betting an ordeal for the broker (truth about Forex).

The eToro mark is a superb prologue to the idea of social exchanging – for the two apprentices and specialists. Anybody can see the course in which most dealers work. All subtleties are situated on the interface, which plainly indicates what is currently important and where the lion's share is moving. You simply pick what to exchange; sign an agreement, more often than not for one moment of exchanging; and sit tight for the outcome. You can make more than one exchange in the meantime.

Additional intriguing highlights of eToro incorporate versatile applications and stock exchanging. Portable Apps, for example, the eTrader, are extraordinarily simple to make exchanges with when you are in a hurry and outside your office. In contrast to other social exchanging stages, eToro likewise has propelled usefulness with regards to contributing and stock offers exchanging.
submitted by Raazfde to u/Raazfde [link] [comments]

New rule! Also are cryptocurrencies an investment, will there be a crash? Everything answered here!

This is going to be the only crypto post for now and an announcement:
Rule 6: Bitcoins & cryptocurrenies should be discussed in CryptoCurrency. Posts regarding this topic will be automatically removed.
If there's a stock correlated with cryptocurrencies, like coinbase going IPO, then that's fine, you might have to message the mods after posting to have it approved, no big deal.
Also if you're questioning whether something is an investment or not, just search for it on personalfinance. For general currency trading strategies, see forex .
If you're wondering if bitcoins are an investment or if there will be a crash, read on.

Are cryptocurrencies an investment?

This post is going to deal with bitcoins & cryptocurrencies as an investment... they're more speculative. All currencies are speculative mostly due to how the forex market works, but more because of exchange rates between countries keep currencies balanced (including inflation, country debt, interest rates, political & economic stability, etc), so you can only profit in price fluctuations.
Sure you could buy the currency of a depressed country, like Mexico decades ago, and then hold in the hopes it'll go up (which it did for Mexico), but that's also speculation (no one knew Mexico would pay off so much debt).
Bitcoins are also affected by other countries' currency values, but more so by the future expectation of legitimacy, world wide adoption, limited gains from mining, and eventual limit in supply. But at any given moment the United States could pay off more debt, raise interest rates to reduce inflation (or cause deflation), grow GDP, or even reduce the supply of USD all of which would increase the value of USD (keep in mind bitcoins can't do any of these things).
Far too many people are treating cryptocoins as an investment because currently (June 5th 2017) a lot of crypto investors are worth a lot of money, god bless you people, so this post will also help you determine if we're headed for a crypto crash and maybe you can keep those profits.

Should I invest in cryptocurrencies?

Understand that an investment is something you hope will go up in the future or provide income, both of which for the long term vs speculation which profits on short term inefficiencies.
Speculative securities are typically commodities, options, bonds, and currencies, but also stocks that are volatile enough to give you extreme returns or extreme loses.

Examples of investments:

Examples of speculation:

Reducing the risk of speculation

Typically for speculation you reduce risk by reducing your trade size and timeframe, but since you're trying to invest into something that is speculative, you can try:
Asset allocation, a strategy that reduces risk.. If you're 80% stocks, 15% bonds, 4% gold, and 1% bitcoins, if something were to happen to bitcoins, you still have 99% of your money.
But even very aggressive long term portfolios leave speculation out completely and just go 100% stocks because stocks benefit from growth while speculative securities like gold benefit from global turmoil in the short term. Only mid risk & mid term portfolios can take advantage of gold's speculative returns.
I also mention asset allocation because many crypto investors have been using this strategy on a portfolio of 100% crypto coins, but that doesn't help you reduce the overall risk of crypto coins, you're just reducing the risk of 1 speculative asset with another speculative asset. 100% crypto portfolio would face the same risks such as being made illegal, IRS aggressively hunting down crypto profits, a drop in correlated coin markets, or just a loss of popularity would all cause a sell off. Even the USD or Chinese currencies becoming more valuable would reduce the value of crypto coins.

Should I buy coins right now?

Cryptocoins are a better investment after a period of consolidation when volatility has stabilized:

Bitcoin 2013/2014 speculation, chart

Bitcoin 2015 consolidation, chart

Source Bitstamp exchange, while the volume is #2 to GDAX, Bitstamp is better to look at for historical price/data, more charts here.

RSI & MACD key for above charts and primer

Analyzing overbought signals

So the first chart above have RSI & MACD screaming that bitcoin is overbought and you shouldn't invest in 2013/2014.
The black squares in the 2nd chart show consolidation and reduced volatility, a "better" time to invest. If you were trading short term, it would be a whole different story, and there would be opportunities to buy & short, but since this is written for investing, the small overbought signals are ignored, so if you were to buy Bitcoin at $300 inside the first blacksquare (2nd chart) and then it suddenly drops to 25%, it's okay because the volatility is much lower compared to previous price movements (nothing compared to 80% loss in the 1st chart). Any investor would tell you a 25% drop is terrible, but bitcoins are speculative and that kind of drop is pretty damn good for this level of volatility.

Nothing goes straight up forever

and anything that comes near this vertical incline will eventually lose 80% to near 100%, always happens, it's usually preceded by emotions (price euphoria), attention, and increased volume, all classic signs that something is becoming riskier.
Other speculative securities gaining multiples and then losing 80% to near 100% of value:

Notable comments on reddit:

*This is just to get you guys looking at different subs on this topic, and yeah it's mostly anti-crypto, but don't let that discourage you.

Is Bitcoin going to crash?

Maybe, the signals are getting louder, you tell me: The only chart you wanted to see this entire time.
So based on the above chart, is bitcoin overbought? MACD levels are the same as 2013's crash, but the increased in value is around 4.3x or 2.4x (depending on which you look at), so maybe we'll see another spike before a crash, I don't know, it's up to interpretation right now. There's the emotional price levels of 3000 and 4000 that we might have no problem getting to in an overbought environment before a correction. And how big will the correction be? I think 80%, but it very well could be around 50% down to $1200, the previous level of resistance which would become support.
I put everything above in its own wiki here.
Well I hope that helps everyone. Sorry to anyone that may feel butthurt on classifying cryptocoins as speculation, I hope you understand the facts. Feel free to argue or agree with this. If I made any mistakes and you point them out, I'll correct them and give you credit for it in an update to this post and the wiki.
Also the automod will is just going to blanket remove posts (not comments) with the following keywords {crypto, bitcoin, btc, etherium, altcoin} (see update 4 below) (this will eventually get relaxed if Coinbase ever IPOs) and then it'll send the user this message:
"Sorry your post[link] was removed in stocks because of rule 6: Bitcoins & cryptocurrenies should be discussed in CryptoCurrency. You can find more information in our are-cryptocurrencies-investments wiki. If you're trying to discuss a non-OTC stock related to cryptocoins like Coinbase IPO, or this was just a mistake, message the mods and they'll approve your post, thanks."
Update: Created wiki, added relevant websites and sub reddits. Also turned on automod reply.
Update2: those relavant websites and subreddits I put into the wiki, thanks u/dross99 for recommending ethereum

Relevant websites/wikis

Relevant subreddits

  • CryptoCurrency - main sub to learn about all bit & altcoins
  • ethtrader - trading eth
  • ethereum - for more eth information
  • btc - the place to have bitcoin discussions or r/CryptoCurrency; while Bitcoin does have a lot of information on Bitcoins in general, you'll find many reddit subs completely opposed to Bitcoin for heavy censorship of discussions, especially those critical of bitcoins, so you're better off reading the sub's wikis and discussing bitcoins in btc & r/CryptoCurrency
  • personalfinance
Update3: Shoutout to the mods on CryptoCurrency
Update4: Updated auto mod keywords, it's not a blanket catch all, a little completed to understand if you don't know regex but it looks like this
"crypto ?(trading|investing)","(should(| I)|could(| I)|can(| I)|how to|is it worth) (buy|sell|mine|min)(|ing) (btc|btcs|bitcoin|ether|etherium|eth|litecoin|ripple|altcoin)" 
submitted by provoko to stocks [link] [comments]

The Best Place To Check Live Euro Rates

Buying and selling currency online can give you a great exchange rate. You can easily buy and sell currency at live rates as the rate changes each day depending on market conditions. You'll get to choose from wide varieties of currencies and products.
The live currency rates are connected to live market data feed that updates on a minute-by-minute basis. You can save maximum on exchange rates online as there are no banks or money changers involved.
You have access to a large network area and location that'll help you choose from the best. With good deals and add ons, you can sell and buy currency at no extra costs.
Bookmyforex.com offers you to buy and sell currency online according to your expediency. With flexible terms and conditions, you'll be able to quickly exchange currency and sell currency. The best part is Bookmyforex.com gives you the benefit of freezing a particular live euro rates.
You are protected from market fluctuations as you can use the same rate. It lets you lock a rate for up to three days. After you lock the rate, you can book your order within that time frame with the same rate. This helps to save on money and you'll get the benefit of the lowest possible rate from the online forex site.
Bookmyforex.com gives you the benefit of selling and exchanging foreign currency at interbank rates with zero percent margins. You'll also get quick access to visa power forex cards with the site. With zero commissions and charges, you'll be able to buy foreign currency at best rates.
Banks do charge on the selling of foreign currency but Bookmyforex.com offer exchange and selling at no extra costs. Boomyforex.com also offer rate alerts on exchange prices. It will give you a notification for lowest rate so that you can buy or sell a currency that lowest rate possible.
Boomyforex.com offers the best rate if you want to buy and sell foreign currency. With a freeze in time and no extra cost, the forex site is your best bet. It'll also provide you with the best rate if you are traveling abroad.
submitted by bookmyforexgurgaon to u/bookmyforexgurgaon [link] [comments]

I'm searching stock platform for personal investment

I'm an EU citizen and want my personal saving to convert them to stocks. I'm not interested for forex or cryptcoins. I'm also I don't need any advisor.

I'm care mainly for UK or US stocks market but my budget is under € 10k, So I care about the fees. That is the reason that I don't go to my local bank. For any act (buy or sell) they want feeds more than 10 euro. I remember that some bet site they offered something like bets on stocks. I want actual buy or sell the stocks. I also I don't like CFDs.

Any suggestions?
submitted by iJohnnyCash to personalfinance [link] [comments]

Live Trading Momentum on the news Example

https://www.youtube.com/watch?v=1hgJiLr7uZ0

In this Nadex 2 hour trade I am doing a news trade riding momentum for a little twist on how I usually do these trades. I lost Audio on the entry of the trade but I salvaged the last few minutes of this live trade and I am going to talk in detail about how I planed this trade at the beginning. I am trying to help fellow traders know how to avoid and how to use news on your side when trading forex pairs on the Nadex platform.
Key Points:
A: I rarely trade around news but when I do then I like to look for strong trends on the longer term price action charts. If there is really a trend you will see it. If you do not see it yet then wait and do not force the trade. We had been having nice down days all week. This may mean some of the report was priced in but when momentum keeps flowing in the same direction after the report then you are not just trading a news pop alone. Instead you are following an established weekly trend with news on your side as well.
B: Wait for the news to get out of your way before entering.I had to wait for the high impact news to see how the market would react. Check on our site:
http://www.binaryoptionstutor.com/view_forex_news_calendar.php
set it for your timezone and make sure you are not going to trade around news unless this is your intent to do so.
C: Understand the news: When you get in a trade and it goes against you. It helps to understand all the reasons that you got in. That is why I talk a little about correlations and fundamentals in this video. 98% or more of traders just ignore fundamentals and correlations. I explain the Base and quote of a currency pair and how the news will effect money flow out of Europe and into the USA on a day that the news plays out with bullish sentiment. This will make USA markets strong and banks moving money for large clients will sell Euro Dollar bringing that base side down. Banks and forex flows are at the top of the food chain and can help your trade even if it is a short term trade.
D: I was trading the momentum and had to wait at least half way into the hour to get the news so this means I was only in for like 20 minutes or so. When I am trading momentum I want to get in closer to expire time and just ride that last bit out, I want to see the behavior and be sure it will hold for the remainder as best that I can do so.
E: Pricing: Notice that on this bet in a live account I was only able to get in at $21.25 / contract and I really like shooting for $20 - $25 bets in a live account because I would sooner wait for confirmations of what I am trading around than to try and get those extra $5 - $10.
Please watch the video carefully and feel free to write if I covered something in the fundamentals of the news or price action that was not so clear to you.
submitted by alfredough16 to Nadex [link] [comments]

"Satoshi Nakamoto" the mysterious creator of Bitcoin is no other than the CIA

Bitcoin has surged to all time highs, Who created Bitcoin, and why?
The creator of Bitcoin is officially a name, “Satoshi Nakamoto” – very few people believe that it was a single male from Japan. In the early days of Bitcoin development this name is associated with original key-creation and communications on message boards, and then the project was officially handed over to others at which point this Satoshi character never appeared again (Although from time to time someone will come forward saying they are the real Satoshi Nakamoto, and then have their posts deleted).
Bitcoin could very well be the ‘one world currency’ that conspiracy theorists have been talking about for some time. It’s a kill five birds with one stone solution – not only is Bitcoin an ideal one world currency, it allows law enforcement a perfect record of all transactions on the network. It states very clearly on bitcoin.org (the official site) in big letters “Bitcoin is not anonymous” :
Some effort is required to protect your privacy with Bitcoin. All Bitcoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any Bitcoin address. However, the identity of the user behind an address remains unknown until information is revealed during a purchase or in other circumstances. This is one reason why Bitcoin addresses should only be used once.
Another advantage of Bitcoin is the problem of Quantitative Easing – the Fed (and thus, nearly all central banks in the world) have painted themselves in a corner, metaphorically speaking. QE ‘solved’ the credit crisis, but QE itself does not have a solution. Currently all currencies are in a race to zero – competing with who can print more money faster. Central Bankers who are in systemic analysis, their economic advisors, know this. They know that the Fiat money system is doomed, all what you can read online is true (just sensationalized) – it’s a debt based system based on nothing. That system was created, originally in the early 1900’s and refined during Breton Woods followed by the Nixon shock (This is all explained well in Splitting Pennies). In the early 1900’s – there was no internet! It is a very archaic system that needs to be replaced, by something modern, electronic, based on encryption. Bitcoin! It’s a currency based on ‘bits’ – but most importantly, Bitcoin is not the ‘one world currency’ per se, but laying the framework for larger cryptocurrency projects. In the case of central banks, who control the global monetary system, that would manifest in ‘Settlement Coin’ :
Two resources available almost exclusively to central banks could soon be opened up to additional users as a result of a new digital currency project designed by a little-known startup and Swiss bank UBS. One of those resources is the real-time gross settlement (RTGS) system used by central banks (it’s typically reserved for high-value transactions that need to be settled instantly), and the other is central bank-issued cash. Using the Utility Settlement Coin (USC) unveiled today, the five-member consortium that has sprung up around the project aims to help central banks open-up access to these tools to more customers. If successful, USC has the potential to create entirely new business models built on instant settling and easy cash transfers. In interview, Robert Sams, founder of London-based Clearmatics, said his firm initially worked with UBS to build the network, and that BNY Mellon, Deutsche Bank, ICAP and Santander are only just the first of many future members.
the NSA/CIA often works for big corporate clients, just as it has become a cliche that the Iraq war was about big oil, the lesser known hand in global politics is the banking sector. In other words, Bitcoin may have very well been ‘suggested’ or ‘sponsored’ by a banker, group of banks, or financial services firm. But the NSA (as we surmise) was the company that got the job done. And probably, if it was in fact ‘suggested’ or ‘sponsored’ by a private bank, they would have been waiting in the wings to develop their own Bitcoin related systems or as in the above “Settlement Coin.” So the NSA made Bitcoin – so what?
The FX markets currently represent the exchange between ‘major’ and ‘minor’ currencies. In the future, why not too they will include ‘cryptocurrencies’ – we’re already seeing the BTC/EUR pair popup on obscure brokers. When BTC/USD and BTC/EUR are available at major FX banks and brokers, we can say – from a global FX perspective, that Bitcoin has ‘arrived.’ Many of us remember the days when the synthetic “Euro” currency was a new artificial creation that was being adopted, although the Euro project is thousands of degrees larger than the Bitcoin project. But unlike the Euro, Bitcoin is being adopted at a near exponential rate by demand (Many merchants resisted the switch to Euros claiming it was eating into their profit margins and they were right!).
And to answer the question as to why Elite E Services is not actively involved in Bitcoin the answer is that previously, you can’t trade Bitcoin. Now we’re starting to see obscure brokers offering BTC/EUR but the liquidity is sparse and spreads are wacky – that will all change. When we can trade BTC/USD just like EUUSD you can bet that EES and a host of other algorithmic FX traders will be all over it! It will be an interesting trade for sure, especially with all the volatility, the cross ‘pairs’ – and new cryptocurrencies. For the record, for brokers- there’s not much difference adding a new symbol (currency pair) in MT4 they just need liquidity, which has been difficult to find.
So there’s really nothing revolutionary about Bitcoin, it’s just a logical use of technology in finance considering a plethora of problems faced by any central bank who creates currency. And there are some interesting caveats to Bitcoin as compared to major currencies; Bitcoin is a closed system (there are finite Bitcoin) – this alone could make such currencies ‘anti-inflationary’ and at the least, hold their value (the value of the USD continues to deteriorate slowly over time as new M3 introduced into the system.) But we need to pay
Here’s some interesting theories about who or whom is Satoshi:
A corporate conglomerate
Some researchers proposed that the name ‘Satoshi Nakamoto’ was derived from a combination of tech companies consisting of Samsung, Toshiba, Nakayama, and Motorola. The notion that the name was a pseudonym is clearly true and it is doubtful they reside in Japan given the numerous forum posts with a distinctly English dialect.
Craig Steven Wright
This Australian entrepreneur claims to be the Bitcoin creator and provided proof. But soon after, his offices were raided by the tax authorities on ‘an unrelated matter’
Soon after these stories were published, authorities in Australia raided the home of Mr Wright. The Australian Taxation Office said the raid was linked to a long-running investigation into tax payments rather than Bitcoin. Questioned about this raid, Mr Wright said he was cooperating fully with the ATO. “We have lawyers negotiating with them over how much I have to pay,” he said.
Other potential creators
Nick Szabo, and many others, have been suggested as potential Satoshi – but all have denied it:
The New Yorker published a piece pointing at two possible Satoshis, one of whom seemed particularly plausible: a cryptography graduate student from Trinity College, Dublin, who had gone on to work in currency-trading software for a bank and published a paper on peer-to-peer technology. The other was a Research Fellow at the Oxford Internet Institute, Vili Lehdonvirta. Both made denials. Fast Company highlighted an encryption patent application filed by three researchers – Charles Bry, Neal King and Vladimir Oks­man – and a circumstantial link involving textual analysis of it and the Satoshi paper which found the phrase “…computationally impractical to reverse” in both. Again, it was flatly denied.
THE WINNER: It was the NSA
The NSA has the capability, the motive, and the operational capacity – they have teams of cryptographers, the biggest fastest supercomputers in the world, and they see the need. Whether instructed by their friends at the Fed, in cooperation with their owners (i.e. Illuminati banking families), or as part of a DARPA project – is not clear and will never be known (unless a whistleblower comes forward). In fact, the NSA employs some of the best mathematicians and cryptographers in the world. Few know about their work because it’s a secret, and this isn’t the kind of job you leave to start your own cryptography company.
But the real smoking Gun, aside from the huge amount of circumstantial evidence and lack of a credible alternative, is the 1996 paper authored by NSA “HOW TO MAKE A MINT: THE CRYPTOGRAPHY OF ANONYMOUS ELECTRONIC CASH”
The NSA was one of the first organizations to describe a Bitcoin-like system. About twelve years before Satoshi Nakamotopublished his legendary white paper to the Metzdowd.com cryptography mailing list, a group of NSA information security researchers published a paper entitled How to Make a Mint: the Cryptography of Anonymous Electronic Cash in two prominent places, the first being an MIT mailing list and the second being much more prominent, The American Law Review
The paper outlines a system very much like Bitcoin in which secure financial transactions are possible through the use of a decentralized network the researchers refer informally to as a Bank. They list four things as indispensable in their proposed network: privacy, user identification (protection against impersonation), message integrity (protection against tampering/substitution of transaction information – that is, protection against double-spending), and nonrepudiation (protection against later denial of a transaction – a blockchain!).
It is evident that SHA-256, the algorithm Satoshi used to secure Bitcoin, was not available because it came about in 2001. However, SHA-1 would have been available to them, having been published in 1993.
Why would the NSA want to do this? One simple reason: Control.
As we explain in Splitting Pennies – Understanding Forex – the primary means the US dominates the world is through economic policy, although backed by bombs. And the critical support of the US Dollar is primarily, the military. The connection between the military and the US Dollar system is intertwined inextricably. There are thousands of great examples only one of them being how Iraq switched to the Euro right before the Army’s invasion.
In October 2000 Iraq insisted on dumping the US dollar – ‘the currency of the enemy’ – for the more multilateral euro. The changeover was announced on almost exactly the same day that the euro reached its lowest ebb, buying just $0.82, and the G7 Finance Ministers were forced to bail out the currency. On Friday the euro had reached $1.08, up 30 per cent from that time.
Almost all of Iraq’s oil exports under the United Nations oil-for-food programme have been paid in euros since 2001. Around 26 billion euros (£17.4bn) has been paid for 3.3 billion barrels of oil into an escrow account in New York. The Iraqi account, held at BNP Paribas, has also been earning a higher rate of interest in euros than it would have in dollars.
The point here is there are a lot of different types of control. The NSA monitors and collects literally all electronic communications; internet, phone calls, everything. They listen in even to encrypted voice calls with high powered microphones, devices like cellphones equipped with recording devices (See original “Clipper” chip). It’s very difficult to communicate on planet Earth in private, without the NSA listening. So it is only logical that they would also want complete control of the financial system, including records of all electronic transactions, which Bitcoin provides.
Could there be an ‘additional’ security layer baked into the Blockchain that is undetectable, that allows the NSA to see more information about transactions, such as network location data? It wouldn’t be so far fetched, considering their past work, such as Xerox copy machines that kept a record of all copies made (this is going back to the 70’s, now it’s common). Of course security experts will point to the fact that this layer remains invisible, but if this does exist – of course it would be hidden.
More to the point about the success of Bitcoin – its design is very solid, robust, manageable – this is not the work of a student. Of course logically, the NSA employs individuals, and ultimately it is the work of mathematicians, programmers, and cryptographers – but if we deduce the most likely group capable, willing, and motivated to embark on such a project, the NSA is the most likely suspect. Universities, on the other hand, didn’t product white papers like this from 1996.
Another question is that if it was the NSA, why didn’t they go through more trouble concealing their identity? I mean, the internet is rife with theories that it was in fact the NSA/CIA and “Satoshi Nakamoto” means in Japanese “Central Intelligence” – well there are a few answers for this, but to be congruent with our argument, it fits their profile.
Where could this ‘hidden layer’ be? Many think it could be in the public SHA-256, developed by NSA (which ironically, was the encryption algorithm of choice for Bitcoin – they could have chosen hundreds of others, which arguably are more secure):
Claims that the NSA created Bitcoin have actually been flung around for years. People have questioned why it uses the SHA-256 hash function, which was designed by the NSA and published by the National Institute for Standards and Technology (NIST). The fact that the NSA is tied to SHA-256 leads some to assume it’s created a backdoor to the hash function that no one has ever identified, which allows it to spy on Bitcoin users.
“If you assume that the NSA did something to SHA-256, which no outside researcher has detected, what you get is the ability, with credible and detectable action, they would be able to forge transactions. The really scary thing is somebody finds a way to find collisions in SHA-256 really fast without brute-forcing it or using lots of hardware and then they take control of the network,” cryptography researcher Matthew D. Green of Johns Hopkins University said in a previous interview.
Then there’s the question of “Satoshi Nakamoto” – if it was in fact the NSA, why not just claim ownership of it? Why all the cloak and dagger? And most importantly, if Satoshi Nakamoto is a real person, and not a group that wants to remain secret – WHY NOT come forward and claim your nearly $3 Billion worth of Bitcoin (based on current prices).
Did the NSA create Satoshi Nakamoto?
The CIA Project, a group dedicated to unearthing all of the government’s secret projects and making them public, hasreleased a video claiming Bitcoin is actually the brainchild of the US National Security Agency.
The video entitled CIA Project Bitcoin: Is Bitcoin a CIA or NSA project? claims that there is a lot of compelling evidences that proves that the NSA is behind Bitcoin. One of the main pieces of evidence has to do with the name of the mysterious man, woman or group behind the creation of Bitcoin, “Satoshi Nakamoto”.
According to the CIA Project, Satoshi Nakamoto means “Central Intelligence” in Japanese. Doing a quick web search, you’ll find out that Satoshi is usually a name given for baby boys which means “clear thinking, quick witted, wise,” while Nakamoto is a Japanese surname which means ‘central origin’ or ‘(one who lives) in the middle’ as people with this surname are found mostly in the Ryukyu islands which is strongly associated with the Ry?ky? Kingdom, a highly centralized kingdom that originated from the Okinawa Islands. So combining Nakamoto and Satoshi can be loosely interpreted as “Central Intelligence”.
Is it so really hard to believe? This is from an organization that until the Snowden leaks, secretly recorded nearly all internet traffic on the network level by splicing fiber optic cables. They even have a deep-sea splicing mission that will cut undersea cables and install intercept devices. Making Bitcoin wouldn’t even be a big priority at NSA.
Certainly, anonymity is one of the biggest myths about Bitcoin. In fact, there has never been a more easily traceable method of payment. Every single transaction is recorded and retained permanently in the public “blockchain”. The idea that the NSA would create an anarchic, peer-to-peer crypto-currency in the hope that it would be adopted for nefarious industries and become easy to track would have been a lot more difficult to believe before the recent leaks by Edward Snowden and the revelation that billions of phone calls had been intercepted by the US security services. We are now in a world where we now know that the NSA was tracking the pornography habits of Islamic “radicalisers” in order to discredit them and making deals with some of the world’s largest internet firms to insert backdoors into their systems.
And we’re not the only ones who believe this, in Russia they ‘know’ this to be true without sifting through all the evidence.
Nonetheless, Svintsov’s remarks count as some of the more extreme to emanate from the discussion. Svintsov told Russian broadcast news agency REGNUM:“All these cryptocurrencies [were] created by US intelligence agencies just to finance terrorism and revolutions.”Svintsov reportedly went on to explain how cryptocurrencies have started to become a payment method for consumer spending, and cited reports that terrorist organisations are seeking to use the technology for illicit means.
Let’s elaborate on what is ‘control’ as far as the NSA is concerned. Bitcoin is like the prime mover. All future cryptocurrencies, no matter how snazzy or functional – will never have the same original keys as Bitcoin. It created a self-sustained, self-feeding bubble – and all that followed. It enabled law enforcement to collect a host of criminals on a network called “Silk Road” and who knows what other operations that happened behind the scenes. Because of pesky ‘domestic’ laws, the NSA doesn’t control the internet in foreign countries. But by providing a ‘cool’ currency as a tool, they can collect information from around the globe and like Facebook, users provide this information voluntarily. It’s the same strategy they use like putting the listening device in the chips at the manufacturing level, which saves them the trouble of wiretapping, electronic eavesdropping, and other risky methods that can fail or be blocked. It’s impossible to stop a cellphone from listening to you, for example (well not 100%, but you have to physically rewire the device). Bitcoin is the same strategy on a financial level – by using Bitcoin you’re giving up your private transactional information. By itself, it would not identify you per se (as the blockchain is ‘anonymous’ but the transactions are there in the public register, so combined with other information, which the NSA has a LOT OF – they can triangulate their information more precisely.
That’s one problem solved with Bitcoin – another being the economic problem of QE (although with a Bitcoin market cap of $44 Billion, that’s just another day at the Fed buying MBS) – and finally, it squashes the idea of sovereignty although in a very, very, very subtle way. You see, a country IS a currency. Until now, currency has always been tied to national sovereignty (although the Fed is private, USA only has one currency, the US Dollar, which is exclusively American). Bitcoin is a super-national currency, or really – the world’s first one world currency.
Of course, this is all great praise for the DOD which seems to have a 50 year plan – but after tens of trillions spent we’d hope that they’d be able to do something better than catching terrorists (which mostly are artificial terrorists)
submitted by PeopleWhoDied to conspiracy [link] [comments]

FOREX.com - YouTube 50 PIPS a Day Forex Trading Strategy 😵 - YouTube Which is Better? Forex or Stock Trading? ⚖️ - YouTube 5 Things I Wish I Had Known When I Started Trading Forex ... Betting Raja - YouTube

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FOREX.com - YouTube

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