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The underrated stock survey! Submit your picks for the community to track
Following on the previous tracking post (http://redd.it/i2mmzg) and the highly upvoted request from DJ-Ascii , I've set up this post for another round of underrated or undervalued stock picks. As before, let us know what stock you believe is underrated and a consistent winner that has done well for you, or you believe will do well going forward. In order to make this easier to track please use the following guidelines for submitting.
Only one submission per comment. You can make multiple comments, but please only submit one stock per comment.
Please include at least the ticker and the company name. Feel free to explain why you think this is a good stock.
I'll add these new picks alongside the old survey so as to update you on each portfolio over time. Don't worry about any overlaps. Edit 1: I've compiled everyone who has posted so far, but I'll look out for any final additions tomorrow. The list will then be locked EOD on Friday the 7th of August, and all prices will start from there. Edit 2: All picks have now been locked down and consolidated into the list below. Stocks are sorted in alphabetical order of their company name and the ID corresponds to the approximate order in which they were submitted. The next update will be in 30 days.
I sat thru an hour plus long video expecting to get some new ticker symbols for Paul's secret portfolio. He said in his email that he would provide "an opportunity to get the names for the ticker symbols". I should've read that closer as that means he was not going to provide them without a catch. This is a subscription that Paul charges $5k for. While I am a subscriber to his "Profits Unlimited", and have been satisfied with the results so far, I couldn’t afford the subscription if I wanted to. I took notes on the video and tried to get as much detail as I could (which is tough because he doesn't allow you to rewind or navigate the video in the interface he shows it on). I did research and think I found a couple, but I was hoping you guys confirm and potentially help identify any of these stocks that he personally invests in. I tried to type up what I saw from some of these stocks… Graphene stocks...
Graphene can filter ocean water in a single use, stop rust with graphene infused paint, and can detect cancer in the human body. He mentions gains by G6, Talga Resources, and Tunghsu Optoelectronic (so it can be assumed it's not one of these). Paul predicts Graphene industry to be 13x it's size by 2027. The company he mentions is developing a graphene-based powder that can strengthen any substance. they are a mining company based in Australia. They are also developing a new graphene-powered battery which could charge a phone in 1-2 minutes and electric vehicles in 5. After researching, I believe this is FGPHF. Let me know if you think different.
An offshoot of one of the largest industrial firms in Canada. Canada’s federal government is investing in it. A “tiny” company now that commissioned it’s first large-scale production facility with a production line that is 100% automated. This one I'm not sure of.
Blockchain stock. Soared 26,000% just for "adding blockchain to it’s name” and Paul thinks it will keep growing. I assume he is referring to the bitcoin boom in 2017. Paul states he thinks Bitcoin will hit $1mil in his lifetime. Not much detail here. Quick google search shows: Riot Blockchain, Hive Blockchain, and Long Blockchain Corp. One of these maybe?
This stock is one of the leading crypto miners in the world and the company’s revenues grew 66% last year. Not much info here.
Global energy storage market…
13x growth by 2030. Paul likes an energy storage firm that is developing a new type of battery that can last 20-25 years minimum. Flow battery company with a current value of about $30 million. They’ve done a 180 and are putting everything into a niche corner of the battery market. Completed their first full battery system 2 years ago. Company plans to provide batteries for telecom towers and is expanding into China, New Zealand, and Australia.
Company based out of France. A renewable powerhouse that owns over 100 power plants. Completed 7 renewable power plants last year and have another 10 in the works. Recently bought out another company operating 95 power plants and are expanding into Brazil, Mexico, Egypt, South Africa. Company has goal to increase energy output by 570% by 2023. I'm not sure about either of these companies.
Biotech….Paul extremely bullish stating this could eleminate cancer, diabetes and other diseases in this decade. A French biopharmaceutical company with 8 cancer-killing drugs in its pipeline. Is able to take T-cells (white blood cells) and transform them into cancer killers. In a study, 30 patients with lymphoblastic leukemia were given this treatment. Within weeks, 27 of them were in remission. This company partnered with Pfizer. Worth under $1 billion and generates less than $50 billion in revenue. If one of the eight drugs in it’s pipeline reaches the commercialization phase, it will receive up to $2.8 billion from it’s partners. I believe this is Cellectis (CLLS).
A leader in the use of psychoactive drugs for medical purposes. Wants to design drugs for international use. Recently brought in Canada’s top depression expert as CEO. One of it’s directors is a former law enforcement officer with 35 years experience in drug trafficking. I believe this is Champignon (SHRMF).
SPAC (Special-Purpose Acquisition Company)
Innovation on how companies go public. Monopolizing one of the fastest-growing entertainment markets in the world. Currently holds 60% market share. (Could soar 30k+ percent). Not sure, perhaps PSTH?
Another SPAC. A "pure play on American Infrastructure" with 90% recurring business. Again, not much information so I'm not sure on these ones.
Please let me know if you are able to find anything out and if you have opinions on any of the stocks, feel free to share em! Tldr: I got clues on 10 stocks from an expensive subscription service I can’t afford. Any help identifying the stocks 1-10 above is much appreciated!
http://garbage2gucci.com/2020/08/03/mara-is-one-hot-crypto-ticke Another penny stock ticker that’s worth noting and keeping on your watchlist is $MARA. The momentum, traction, and attention that this company has been getting are certainly something investors shouldn’t neglect. Before we move on a little further into the market summary, here’s a brief summary of Marathon Patent Group, Inc. for investors who have never heard of it. Brief Summary: Marathon Patent Group, Inc. / $MARA To keep it short, Marathon Patent Group, Inc. is a digital asset company that focuses on mining cryptocurrencies. According to numerous cryptocurrency believers, this type of currency will be the future. What do you think? Marathon Patent Group’s focus on the blockchain has intrigued many cryptocurrency investors. At the moment, the company is currently operating a mining facility in Quebec. Whether cryptocurrencies will be the future or not, the topic has been a debate since the beginning and introduction of Bitcoin. Let’s go over the current market summary of $MARA. Marathon Patent Group, Inc. Price, Market Cap, And Volume https://preview.redd.it/e67n1z27mse51.png?width=431&format=png&auto=webp&s=45f038c5ac302410fb3c78fdb14c0d47d1f16b9e At the moment, the price of $MARA is $1.04 after the market closed on Friday. When comparing the current volume to the average volume, the current volume outweighs the average. The average volume of $MARA is 5,718,766 while Friday’s market movement displays a volume of 24,926,863 shares. That’s definitely incredible. Another attractive market stats about $MARA is that the market cap is only at $22.652 million. We definitely still have a lot of room to move up. According to Yahoo Finance, its algorithm detected a bullish signal expecting a positive price movement within the next several weeks. With all that aside, let’s hear about Marathon Patent Group’s latest news and reports. Marathon Patent Group: Latest News May 19th, 2020: Published by GlobeNewswire, it was reported that Marathon Patent Group made an additional purchase of 500 the latest generation of Bitmain S19 Pro Miners. To give you additional stats and info about this purchase, the company will be able to:
Produce 110 TH/s
Generate 56 PH/s
Bringing Marathon Patent Group a total of 185 PH/s
The amount paid comes out to $1,258,500 and expecting the units by the end of August. June 3rd, 2020: Published by GlobeNewswire, the article mentioned that Marathon Patent Group installed 700 MS30S+ ASIC miners as well as being debt-free. Now that’s two good news in one. Mentioned in the press release, Marathon Patent Group’s long-term debt is now at zero. June 11th, 2020: Published by GlobeNewswire, it was announced that Marathon Patent Group made another purchase of 500 more of the latest version of S19 Pro ASIC miners. This purchase cost $1,190,000 and they’re expecting to receive these units by the end of September. Now – the good news is that Marathon Patent Group will have 500 units installed in August and another 500 units in September. Because of this, investors can expect higher earning coming from the company. As of right now, it’s worth keeping $MARA on your watchlist to see how the price will move within the next couple of months. Note: For this $MARA guide, please note that this post isn’t to help investors make a financial decision. It’s advised that readers should do their own due diligence. ————————————————————————————————————————– If you’re interested in furthering this discussion,you’re Invited to my free Telegram Stocks Talk Chatroom.In my freeTelegram Stocks Chatroom, we talk about speculative stocks every day during market hours. My chatroom is for all levels of experience and you are welcome to just spend a session or two with us and see if we can be another useful resource toward helping you succeed.Here’s the LINK
Blockchain Bites: Dorsey Challenges Coinbase, Nasdaq Lists Diginex, Ethereum Miners Profit The Australian government is investing big in modern technology, Nasdaq saw its first crypto exchange operator listing and revenues are surging for Ethereum miners amid increased network activity. Australia modernizes Australia will commit A$800 million (US$575 million) to invest in digital technologies as part of its coronavirus recovery plan, Prime Minister Scott Morrison announced Tuesday. The federal plan will see US$256.6 million for a digital identity solution, $419.9 million to fully implement the Modernising Business Registers (MBR) program, $22.2 million for small businesses training to utilize digital technologies and two blockchain pilot programs totalling $6.9 million. “The Plan supports Australia’s economic recovery by removing out-dated regulatory barriers, boosting the capability of small businesses and backs the uptake of technology across the economy,” Morrison said in the announcement. Nasdaq launch Blockchain services firm Diginex has become the first crypto exchange operator to list on Nasdaq. The stock went live Thursday morning under the EQOS ticker symbol, a nod to the firm’s EQUOS.io trading platform. CoinDesk’s Nathan DiCamillo reports Diginex’s back-door listing came through a merger with a special-purpose acquisition company (SPAC). Diginex CEO Richard Byworth said he expects a mix of global retail and institutional investors to buy shares. Over time, he expects the majority of Diginex shareholders to be U.S. investors because of the Nasdaq listing. Dorsey responds Twitter CEO Jack Dorsey tweeted his disapproval of Coinbase CEO Brian Armstrong’s mission statement to keep his company free and clear of politics. Dorsey argued that by the very act of being a crypto exchange, Coinbase was always already engaged in politics. “Bitcoin (aka ‘crypto’) is direct activism against an unverifiable and exclusionary financial system which negatively affects so much of our society. Important to at least acknowledge and connect the related societal issues your customers face daily. This leaves people behind,” Dorsey tweeted. Armstrong made waves this week – in and out of crypto – when saying Coinbase, and its employees, should keep work and activism separate. Election predictions Putting stake to their claims, many crypto-political gamblers have cast their vote predicting who might win the contentious U.S. presidential election. CoinDesk markets editor Lawrence Lewitinn looked at the data following this week’s first presidential debate and found many are betting incumbent President Donald Trump will lose in November. While bettors on decentralized betting platforms like Augur and futures markets on FTX aren’t as bullish on the challenger, former Vice President Joe Biden, he does have the odds. “Thus what’s true at the time of publication can change on a dime. It is now fewer than five weeks until Election Day. Buckle up!” Lewitinn warns. Mining profits HIVE Blockchain has reported its best-ever quarter, as the mining firm raked in record fees from the frenzied activity in decentralized finance (DeFi) over the summer. The Toronto-listed mining company released its unaudited results Thursday, saying it mined a total of 32,000 ether (ETH) and 121,000 ethereum classic (ETC) in the second fiscal quarter ending Sept. 30. Per CoinDesk’s price data, that comes to nearly $11.8 million for mining ether, and a further $664,000 for ethereum classic – approximately $12.4 million at time of writing. The figures represent a near 30% increase from the 25,000 ETH that HIVE mined in the first quarter and a 50% increase in the same quarter in 2019. Stealth launch In the latest effort to smooth a path for buttoned-up investors, Talos, an institutional-grade conduit to the crypto ecosystem, is emerging from stealth mode to serve brokers, custodians, exchanges and over-the-counter (OTC) trading desks. The platform started out in 2018 and is backed by an impressive list of investors including Autonomous Partners, Castle Island Ventures, Coinbase Ventures and Initialized Capital. Over the past year or so, Talos has been quietly onboarding a core group of capital market participants, so that the platform can make its debut in a revenue-generating state.
I have 700k cash sitting in my money market account. I have been sitting on cash since 2016 waiting for that recession so I can perfectly time the market. And in the process I have lost ...not sure how much but a LOT. So I have the following in mind.
33% - golden butterfly allocation
33% - dividend growth investing
33% - high savings account (wealthfront)
Let me know if this would protect me from the downside while giving me a decent amount of returns. EDIT 02/20 Here is a summary of all the nuggets that came out from this thread. Love it. Will updated when I plan my portfolio. -VGRO for the win. ( probably VUG) -three-fund portfolio Vanguard Total Stock Market Index Fund (VTSAX) Vanguard Total International Stock Index Fund (VTIAX) Vanguard Total Bond Market Fund (VBTLX) -I personally like some international exposure so have 20% of my portfolio in VTIAX. Great article in international investing https://www.fidelity.com/viewpoints/investing-ideas/international-investing-myths -SPCE. Bet it all on $40 June calls. -You might consider a bogleheads portfolio. Here is my set it and forget it allocation: 70% VTSAX (ETF equivalent is VTI) 20% VTIAX (ETF equivalent is VXUS) 10% VBTLX (ETF equivalent is BND) -A very general rule of thumb is that your bond allocation should equal your age minus 10 (i.e., a 40-year old investor would own approximately 30% bonds, 70% stocks). -I plan to dollar cost average into simple investments like the S&P, dividend growth fund DGRO (which I just love), and some bonds for safety. It’s very similar to VIG -Everything into SPCE calls. Literally no risk ( are you serious?) -if you want to mess with things, i would say swap the small cap value for dividend growth in the golden butterfly. ( Makes sense) having 33% of your 750k in high savings is DUMB. (thanks) -Dollar cost average into the market. Select an appropriate asset allocation for your goals. ( Yes!!!) -Be aware that the average return (say 6-7%) is not the same as as what you can realistically draw as an income.First, for a consistent income stream you need to inflation proof the principle. -Also the portfolios that have been analyzed to death that can reliably support that are basically 50 to 70 percent broadly diverse equities and the difference in broadly diverse bonds (index funds with essentially no fees or loads of course). 6-12mo DTE AAPL/MSFT CALLS. LEHGO (Nah!) -I would invest a small PORTION, into a mix of dividend stocks/etf, a mix of growth stocks/etf, and a mix of gold and gold miners. I wouldn’t do bonds personally, but I would consider high yield saving account if it is liquid and they payout interest often (daily) and I can transfer money quickly to take advantage of market opportunities. ( Dividend stocks and Growth stocks makes sense) -I wouldn’t put everything in the market all at once. Start very small and add to your positions slowly until you get more comfortable and understand the market more. Always have some cash on the sideline to take advantage of potential opportunities. ( Will follow this advice) -If it were my 700k I would invest in Dividend Kings and Aristocrats and let the yield on cost grow over the next decade or two. ( Thanks for letting me know, i will look into it more) -My recommendation would be to DCA into a growth fund like VUG over the next 12-24 months. That will protect you from a sudden correction. Personally, I wouldn't invest in dividend/value tickers, especially if you're under 40. (I’d definitely do this, Thanks. I will do Dividend growth for the passive income) -If I suddenly got $700K, I'd put it all in high-growth tech funds. (If this was 2015 and I were to d it again, I’d do it. FAANGU stocks might be at peak) However, there's still value to be found in this expensive market. For example, the banking sector still looks undervalued relative to the S&P. So you can probably divide your allocation between growth, value, and money market funds. -bitcoin (Will run away from any crypto) -Everything else which isn't that defensive cushion is a highly diversified portfolio of stocks which produce an average dividend of 1.7%. Having more cash or bonds than you need is typically going to underperform. VGRO for the win. Set it and forget it! (Probably not, I’d probably do a US growth fund) -If you were to try to diy look up some ways to invest in non correlated asset classes that offer a higher rate of return while limiting down side. If you want dividends, I'm a fan on the high yield bond fund. Make sure you do your research as to what's actually in it, though, and balance your portfolio accordingly. Understand the risks involved in bonds, and the risks involved in bonds that pay 8%, before investing. ( I think VWINX is a good one) -I'll throw out the two rock solid fundsI always recommend: Vwelx/vwinx. The divvy alone will at least keep your assets in the game, and if you look at '08 vwinx only took a 27% hit from previous highs. ( I like the VWINX more) -Simply put your money into VTWAX. total world stock index. Maximum diversification. Low cost. Low risk as possible. (not too optimistic about the emerging market and frontier markets) -30 houses in a cheap metro. (Too much work, I have a demanding full time job and collecting rents is no fun when you have difficult clients)
Cryptocurrency NEO-review and analysis of prospects
https://preview.redd.it/92i8bo3tm1v31.png?width=800&format=png&auto=webp&s=392f964144975e5e2e11a6ea784f6f03923017b3 The NEO digital asset platform was previously called Antshares. But in recent times, a complete rebranding has been made. In addition to the name change, the startup updated blockchain nodes and technical documentation, as well as the stock Ticker. In addition, the official website and social media were redesigned. The transition to a new version of the smart contract system, called NEO-2.0, was carried out. The NEO cryptocurrency has been showing stable and non-stopping growth for a long time. Very quickly, the Chinese creation took seventh place in the top of Coinmarketcap. This, without a doubt, is a serious bid for prospects, given the high competition in the cryptocurrency market. And Ether confidently holds the second line after the famous Bitcoin. So the crypto currency NEO clearly has all the chances to rise much higher than the seventh line. At the moment, the price fluctuates around $45. The cost for three months has increased 20 times. The volumes of neo cryptocurrency reserves are clearly defined and limited to 100 million tokens. So far, only half of the available potential — 50 million tokens-is available on the market. So the crypto currency NEO clearly has all the chances to rise much higher than the seventh line. The project is actively developing. OnChain cooperates with other players in the field of cryptocurrency and blockchain technologies. At the moment, there are connections with blockchain startups Coindash, Bancor, Agrello and others. The Chinese project Red Pulse has announced the creation of a financial research platform based on the NEO-2.0 smart contract system. Also, in cooperation with NEO, there is an intensive development of The Elastos operating system based on blockchain technologies.
THE history of the emergence and development of neo cryptocurrency
https://preview.redd.it/2f7c6ryop1v31.png?width=1280&format=png&auto=webp&s=300b03be2a471d857d7d22d5659f2a4ef74c5e8b The date of origin of the project can be considered 2014. NEO Creator Da Hongfei is a Director of Shanghai-based OnChain. In 2014, onchain, according to Da Hongfei's idea, launches the AntShares blockchain project. On the basis of this platform, a cryptocurrency of the same name was also created. Yes Junpei put to the company is simple, but a global problem. His goal was to build a fundamentally new system of financial interaction. This system should unite the sectors of the real and virtual economy into a single whole with the help of high-tech contracts. And cryptocurrency from OnChain should become a unit of payment for these contracts. Soon OnChain enters into a contract for cooperation with the Wings blockchain project, as well as contracts with economic giants Microsoft and Alibaba. In August 2017 begins the story of NEO already in its current form with the current name. Da Hongfei carried out a complete rebranding and technical modernization of the project. The rebranding was a huge success, and the price of cryptocurrency from OnChain soared 40 times. But not without problems. On the fourth of September, the Chinese authorities adopt a package of sanctions laws against cryptocurrencies and ICO. It was a heavy blow, which at the time almost 2 times brought down the course of the brainchild of Hongfei. However, soon the NEO cryptocurrency moved away from the blow and began to confidently win back the lost positions. At the moment, OnChain is actively upgrading the product and simultaneously trying to find a compromise with the Chinese authorities for the legalization and quiet operation of its offspring.
Features and principle of operation NEO
https://preview.redd.it/tj1goppoq1v31.png?width=800&format=png&auto=webp&s=0c39d14754ba9dd99e2c6bfb692f0f7bdd6c1838 From a technical point of view, the Chinese cryptocurrency is very similar to Ethereum. The basis of the platform is the construction of smart contracts and their subsequent payment with tokens. Also an important part of the project is the ability to create new technologies based on the platform, as well as easy integration with other services. Despite the fact that NEO is often called "Chinese Ether" and the fact that the Ether still occupies a higher position in the ratings, the product from OnChain has advantages that the Ether lacks. NEO is much more practical and functional. This, no doubt, opens up the potential to move the Airwaves in the ratings in the near future. Let's see in detail how everything works. Transactions within the system are possible when paying a Commission. The Commission is paid in-system currency. That is, for the transaction you have to throw in the system additional "fuel". The developers of OnChain decided to create an additional in-system currency, called GAS, as a fuel (a means of paying commissions). NEO mining is impossible. There is a final coin value of 100 million. 50 million thrown on the market during the ICO. The second half of the developers keep at home. However, GAS mining is possible. However, it occurs when holding coins in a purse. That is, the more tokens you have, the more GAS coins you can get to pay commissions. Today, 2000 coins in the wallet accumulate 1 coin GAS every twenty-four hours. Such mining is associated with the work of the network on the Proof-Of-Stake algorithm. Coins generate themselves. Without the use of farms of video cards and megawatts of electricity. Like any cryptocurrency, NEO has advantages and disadvantages. The benefits of NEO:
the publicity of the company and experienced team;
contracts and cooperation with corporate giants;
a wide functionality, much superior to the functionality of Ether (it is difficult for a simple person to understand what the salt is, but for a specialist NEO opens the widest horizons for development and operations);
activity in meetings and seminars;
active struggle of OnChain for legalization (although there are some problems with this now in China, however, there is a high probability that soon all issues with the government will be settled, which will attract large investors and significantly increase the already considerable capitalization of NEO).
The shortcomings of NEO:
all gas storage nodes belong to OnChain, that is, NEO is a centralized structure, although it is served as decentralized, this means that blockchains are in the hands of a narrow circle;
OnChain has the technical ability to monitor the transactions of coin owners, transmit information to the authorities, as well as personally block funds in users ' accounts and regulate the rate.
However, there are great economic and technical prospects for the development and increase in the price of the coin.
Direct mining of NEO is not feasible, you can only mine GAS to pay commissions.
Bitcoin mining depends on the power of the technical base of the miner. The larger the pool of farms from video cards, the more active is the production. In the NEO system, gas mining occurs exclusively due to the presence of coins in the wallet.
To organize a large Bitcoin mining requires large purchases of iron and organization of production (supply of high-power power supply line, cooling system, etc.). A direct injection of investment is sufficient for the development of GAS. Each purchased 2000 coins of "Chinese ether" will steadily accumulate exactly 1 coin of GAS per day.
Bitcoin has the most decentralized system of blockchains, as opposed to pseudo-centralization of NEO.
The processing speed of one NEO block is only 15 seconds. For bitcoin-as much as ten minutes. In the future, it is predicted to accelerate the processing of blocks for NEO to 1 second.
Despite the risks associated with the organization of blockchains, NEO remains a very promising platform in the cryptocurrency market.
NEO storage wallets
On the official NEO website you can find links to the following wallets.
Wallet NEON-Wallet from the group of independent developers City of Zion. Quite good, but the factor of third-party development and the presence of bugs impose their risks.
NEO-CLI. This wallet is recommended only for programmers and people who are good at command line.
NEO-GUI. The best option for the average user. To use it, you need to download the application, synchronize the blockchains and make a backup of the wallet. All. Now you can safely carry out financial transactions using Chinese kryptonite.
There is also the option of storing directly on the exchanges, however it is risky. Also, holding coins on an exchange rather than in a personal NEO wallet will not generate GAS.
As the value and popularity of NEO increases, a massive increase in trading platforms where you can buy or sell "Chinese Ether" is predicted.
Ways to get NEO
Unfortunately, at the moment there is no way FOR direct NEO mining in the manner of Bitcoins and Ether. However, there is a way out. NEO cranes can be used. Cranes are resources where the user receives a cryptocurrency reward for performing certain tasks or participating in lotteries. There is a high probability that if successful in the legalization negotiations, OneChain will provide additional ways to get their tokens. As you can see, NEO is a very promising and rapidly developing cryptocurrency. And although the Chinese government has created some difficulties, on the example of Bitcoin, we see how high the rate of the crypto currency can rise if the factors interfering with the development disappear. So, the prospects of NEO are optimistic and you can risk investing in them.
10-24 01:23 - 'How come bitcoin-community is so friendly to 15% cut when buying or selling bitcoin in exchanges and the different type of bitcion-services?' (self.Bitcoin) by /u/Woodsuck removed from /r/Bitcoin within 6651-6661min
''' Is the btc-price-ticker a big Bitcoin-lie to all and everyone? Because this is not at all the case with other stuff like stocks or fonds when buying or selling. These fees is really a scam of the whole bitcoin-community. Lets say I buy 1 bitcoin right now. 8K says the price-ticker. I pay 8K to get 8K right lol? 15% go to the service. I get $6800 worth in bitcoin. (BTC 0.85000000) I send the bitcoin to another person, and that person cash out as for a finalized transaction. %15 go to the service again. $5780 is left of the $8000. A total fee of $2220 from the $8000. So what must the person do that cash out? He must wait until the price go up, so he can cash out at least the same $8000 he bought - for going plus minus 0 in loss/profit for this transaction. If having $6800 worth in bitcoin at price $8000, it is the same as btc 0.72250000. 15% of 0.85 is 0.72250000 And for btc 0.7225 to become $8000, he/they must wait until the bitcion-price become: $11072.66 before cashing out to get $8000 and go even. And bitcoin and bitcoin-community is about transactions with low fees and is trusting these services???? It does not even go to the miners. And the buyer must wait (freeze the transaction) for the price to go up until it become realistic. But how realistic is it to expect the price to rise %38.5 just for being a "normal transaction that works with low fees"? The buyer is stucked in waiting, and there is no flow of buying/selling bitcoin when half is stucked in waiting for the price to rise. ''' How come bitcoin-community is so friendly to 15% cut when buying or selling bitcoin in exchanges and the different type of bitcion-services? Go1dfish undelete link unreddit undelete link Author: Woodsuck
Crypto mining firm Hut 8 hits Toronto Stock Exchange
News by Coingeek: Ed Drake A crypto mining company has been granted conditional approval to list on the Toronto Stock Exchange (TSX), becoming the first company of its kind to be listed in a public trading venue in Canada. Hut 8 Mining Corp. is the first company to be listed via the Toronto Stock Exchange Sandbox, where it will be given a 12-month probation period to demonstrate compliance. Should the company pass this compliance threshold, it will automatically join the main TSX after that period, opening it up to mainstream access to capital markets. The Canadian mining company is an exclusive North American partner of mining hardware manufacturer Bitfury Group Ltd. Across its two sites in Alberta, the firm contributes 963 PH/s to the network, running 94 BlockBox AC mining units. The TSX Sandbox was set up to allow firms that don’t satisfy the listing requirements for the main exchange, but might still otherwise be suitable candidates for inclusion on the exchange. Hut 8 will be allowed a rolling 12-month period during which it must avoid compliance issues. During that period, shares will be available for trading in the same way as regularly listed securities. Any compliance issues arising during the period will reset the probation period. For the duration of the period, Hut 8 will be required to make two additional disclosures, highlighting risks inherent in their investment proposition: First, “The value of Hut 8 shares is directly linked to the price of the Bitcoin held by the company. Volatility in the Bitcoin market can therefore impact the price of shares.” Also, “The company is in an early stage of development and therefore has a limited history of operations.” Hut 8 securities will be listed under the HUT ticker symbol, or as “HUTMF” on the OTXQX Exchange. The news means Hut 8 will now be able to access capital markets, the first company of its kind to list in this way in Toronto. It also serves as a trailblazer for other mining firms to list in future, though it remains to be seen whether the firm can overcome the compliance tests necessary to graduate to a full listing.
Publicly-Listed Mining Firm Argo Blockchain Adds 1000 New Miners
News by Cointelegraph: Adrian Zmudzinski Mining firm Argo Blockchain installs 1,000 more mining machines, financial news outlet ProactiveInvestors reports on Sept. 19. The addition of the new machines would take the company’s total number of miners to 6,000. Furthermore, the firm also plans to acquire another 6,000 of them in the next two quarters. The firm, publicly traded on the London stock exchange under the ARB ticker. Reports which circulated in August also pointed out that the company signed a deal to increase its electricity supply by 357%, which would be enough to power an additional 15,000 machines. Argo Blockchain promises more updates on its development plans will be released next month.
Long term plans
At the time, Argo Blockchain held 7,025 machines that it mostly uses to mine Bitcoin (BTC). But if it was to expand to 15,000 machines, this would take its total hash rate to 1,360 peta hashes and could make it the largest publicly-listed miner. Since the beginning of May, the company’s stock price increased by 192.3% from £3.25 ($4.06) to £9.5 ($11.85) per share, according to Google Finance. As Cointelegraph reported at the end of August, Bitcoin mining has proven to be a quite profitable endeavor in its ten years of existence as all-time revenue for Bitcoin miners has topped $14 billion.
Minedblock: A Revolutionary Infrastructure Facilitating Most Cost- Efficient Crypto Mining The Minedblock infrastructure is the future of mining in the blockchain space. With the prospect for interested investors to utilize resources from bigger operations of mining to mine numerous coins averting the to buy or stock hugely expensive hardware. The Minedblock comes with fascinating features and these include: The Structure: Here the mining dynamics persistently receives attention and is transacted between coins, as the accomplishment rates change, the deep-seated goal turns to maintain top-notch proficiency sustainably. Mining gear shall be substituted and replaced consistently. Basically, also, there will be a role involving the sources of ASIC miners in a bid to forestall any iota of centralization including building a varied number of easy to get for utilization by clients. MinedBlock will take an inventory case to ascertain mining as a major aspect of present mining collection or individually dependent hash rate yield MinedBlock has been modelled to weigh the option concerning if mining as an embodiment of a subsisting mining pool or better still being dependent on our individual productivity hash rate is top-notch to fabricate coins. Hardware: MinedBlock will basically utilize a blend of ASIC units close by Custom Built GPU Mining Rigs. The Geographical Spot Power expenses and of course the climate are the key contemplations for decision making or choosing of an area, just as considering the political frame of mind of facilitating Countries towards crypto mining, the exact opposite thing needed is to construct a mining ranch someplace and after that, it becomes a limited movement. The primary period of our Mining Farm assemble will utilize ASIC Bitcoin and Bitcoin Cash mining units as they are constructed prepared to utilize. These will be facilitated from an office in Iceland where the atmosphere and power costs are positive. Our GPU mining apparatuses will be manufactured, arranged and keep running from the United Kingdom at first to guarantee they are dependable and simple to oversee remotely before moving them to an office in either Iceland, Canada or Sweden. Adjusting To Change Mining is obviously very serious business, hence the initiators of this project at MinedBlock will always be observing our mining exercises and assessing where we could change the miners to another clime to expand the prospect of profitability. Up and coming updates and forks will likewise be observed to guarantee Minedblock is constantly prepared to adjust. Core Needs MinedBlock has two key needs following the underlying Implementation intend to expand the potential Return on Investment for our Token Holders: • Increase our yield • Reduce our expenses Expanding Our Yield • Mining Farms will be developed a month to month premise • Technology will be observed to guarantee we have the most recent hardware • Mining activities will basically be altered among coins to provide core assurances that we are the most gainful we can be Decreasing Our Expenses • Reduction of power costs through sun oriented power, various areas and other sources of power techniques • Hosting cost reduction via provisioning their very own offices OTHER MINEDBLOCK KEY INFORMATION: Token Info Ticker: MBTX Type: Utility-token Accepted currencies: BTC, POLY, ETH, Fiat Bonus Program: Pre Sale Stage 1: 90% discount Pre Sale Stage 2: 85% discount Token Distribution: 0.38% - Airdrop 1.25% - Airdrop 3.37% - Retained 3.75% - Founders 91.25% - Pre-Sale Funds Allocation: 80% - Mining Equipment 10% - Datacenter Build 10% - Reserve ICO Details Pre-ICO token supply: 60,000,000 MBTX ICO token supply: 305,000,000 MBTX Soft cap: 1,000,000 USD Hard cap: 15,000,000 US Website: https://www.minedblock.io/ Facebook: https://www.facebook.com/MinedBlock/ Twitter: https://twitter.com/mined_block Reddit: https://www.reddit.com/MinedBlock Twitter: https://t.me/minedblockofficial WhitePaper Version 3.1: https://www.minedblock.io/assets/MinedBlockWhitepaper.pdf BOUNTY0X NAME: Osasu.
Bitfinex: Statement Regarding Upcoming Segwit2x Hard Fork
As the Bitcoin ecosystem approaches what appears to be an impending hard fork, it is important to clearly state Bitfinex’s policies on hard forks. First, we want to make it clear that Bitfinex does not intend to advocate for or against any particular hard fork. Miners have the prerogative to commit their hashing power to whatever projects they choose, including alternative and incompatible protocol implementations. However, our first obligation is to our customers, who often demand tokens on each chain in the event of a hard fork that lacks clear community consensus. At this time, we do not believe that there is sufficient consensus to identify a clear winner in the Segwit2x hard fork. Accordingly, our customers will have access to tokens on both chains. We have a responsibility to foster, maintain, and support orderly markets that trade continuously 24/7/365. With a hard fork that lacks clear community consensus, we cannot suspend operations and wait for a winner to emerge. Leveraged trading requires that our markets operate continuously. On operational requirements alone, we must designate such forks as new assets. As the proposed consensus protocol Segwit2x project appears likely to activate, we have elected to designate the Segwit2x fork as B2X, for now. The incumbent implementation (based on the existing Bitcoin consensus protocol) will continue to trade as BTC even if the B2X chain has more hashing power. We are doing this for practical and operational reasons. Political considerations are irrelevant here. While we cannot change or re-assign ticker symbols, we can change the label or description associated with that ticker symbol. For the time being, BTC will continue to be labeled as “Bitcoin,” and B2X will be labeled as “B2X.” This will remain the case unless and until such time that market forces suggest an alternative, more appropriate, labeling scheme for one or both chains. The lack of strong two-way replay protection in Segwit2x means that we must take steps to protect customer funds. At the moment of the fork, all deposits and withdrawals for both BTC and B2X will be halted until we are able to: 1. ‘taint’ our customers’ bitcoins to ensure withdrawals cannot be replayed on both chains; and, 2. ensure that we can properly credit deposits in the event a transaction is replayed on both chains. We expect this process to require at least 24 hours, and potentially significantly longer. If the the event happens, announcements will be made throughout the process to keep everyone up to date. Margin In the event of a hard fork that results in a chain split, Bitfinex is also faced with the challenge of resolving peer-to-peer financing issues. Because we have sufficient time to plan for this event we have elected to handle the accounting of peer-to-peer financed trading similar to how stock spinoffs, dividends, and distributions are handled in equity markets. Specifically, in the case of a hard fork event, lenders will receive both BTC and B2X. Anyone that is short BTC/USD or long any BTC trading pair (ETH/BTC, LTC/BTC, etc.) will owe B2X to the lender, effectively making the user short B2X. An exception is being made where BTC is borrowed but is not in use as financing collateral. In that case, B2X will accrue to the lender. Users that are financed long BTC/USD or short any BTC trading pair will receive B2X. This methodology is complex and operationally challenging, but we believe it to be, in this case, the most economically correct and fair approach for Bitfinex and our customers. Furthermore, we believe it is the only approach that will keep the BTC lending market functioning throughout a hard fork event. Imagine a situation where lenders do not receive B2X. They would be incentivised to stop lending if a hard fork appears imminent. Consequently, lending liquidity could completely disappear, and Bitfinex would be obliged to begin partial liquidations of financed positions when BTC loans expire and cannot be renewed. We believe that such a hypothetical outcome should be avoided. Our plan should prevent the negative consequences of this scenario and seems likely to allow the funding market to continue to operate. It’s important for borrowers to understand that while their P&Ls may climb during a hard fork event, they will have offsetting B2X liabilities that will be applied to their accounts, though perhaps not immediately. At the moment that Bitfinex detects a B2X block that is incompatible with the existing Incumbent Bitcoin blockchain, we will immediately halt processing of any and all BTC deposits and withdrawals for all users, and freeze all movements for all currencies for any borrower of BTC. This freeze will last until the B2X accounting can be adequately prepared and addressed. We expect the process to be quick and automated, but we cannot guarantee that it will be immediate. BTC borrowers can hedge or estimate this liability with newly listed Chain Split Token (CSTs). Depending on CST price discovery, we may also increase margin requirements as the Chain Split Event approaches. This should help users protect themselves from liquidations that might occur during potential large swings in the combined value of BTC and B2X in the aftermath of the Chain Split Event. Please note that the order book for the BT2 CST will become the order book for B2X after the fork, providing price continuity and avoiding temporary, but potentially large, swings in overall account equity. More details on the specific procedures will be forthcoming, but we feel that it is important to address the economic implications as soon as possible, so that our customers can plan accordingly. Bitfinex staff will be available on Whalepool Teamspeak and Bitcoin Mumble servers from time to time to answer customer questions. We will also be building a FAQ document to clarify edge cases and other nuances as needed.
In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018
Developments in Financial Services
A cryptocurrency exchange-traded product (ETP) that trades on Switzerland’s Six Exchange saw record trading volumes on Thursday and Friday last week, suggesting that institutional investors may be buying the dip in cryptocurrencies. Four major cryptocurrencies underlie the HODL ETP, including Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). While HODL ETP’s one-month average daily trading is 20,000 shares, on Thursday, December 6th, and Friday, December 7th, 53,233 shares and 62.986 shares were traded, respectively.
A report published last week by global anti-money laundering policymaker, the Financial Action Task Force (FATF), indicates that cryptocurrency exchanges in the United Kingdom pose a, “low risk,” for money laundering and terrorist financing activities. The report, however, does highlight that such activities on UK cryptocurrency exchanges are an, “emerging risk,” although there is not yet enough evidence to suggest that these activities are occurring through cryptocurrency exchanges. In its report, the FATF urged UK regulators to, “Continue to develop an understanding of emerging risks (such as virtual currencies) and intelligence gaps, and take appropriate action.”
Andreas Utermann, CEO and CIO of Allianz Global Investors, called on global financial regulators to ban cryptocurrencies while speaking at a panel discussion in London. According to a report by Reuters, Utermann said, “You should outlaw it,” while participating in a panel alongside Andrew Bailey, the head of Britain’s Financial Conduct Authority. Bailey responded by saying that Utermann’s comments were, “quite strong,” before adding that cryptocurrencies have, “no intrinsic value.”
Basis, a major US-based stablecoin project, is shutting down its operations and returning most of its funds to investors, according to a report by crypto news outlet The Block. The report by The Block cited, “multiple people with direct knowledge of the situation,” in claiming that the algorithmic stablecoin project, which generated UDS$133mm of funding through private investments in April, will return funds to investors. According to the Co-Founder and CEO of competing stablecoin project Nevin Freeman, Basis’ shutdown is due to regulatory concerns around one of its token types. Freeman explained, highlighting that algorithmic stablecoins implement a “secondary token”, known as a “bond token”, to help maintain the primary token’s peg. In many cases, regulators like the US Securities and Exchange Commission (SEC) consider these secondary tokens to be securities.
Binance, the world’s largest cryptocurrency exchange by daily trading volume, announced that it has added Circle’s US dollar-pegged stablecoin, USD Coin (USDC), to its combined Stablecoin Market. Circle, a company backed by Goldman Sachs, first released its stablecoin in September of this year. Binance’s combined Stablecoin Market features other notable stablecoins, like Tether (USDT), that trade against cryptocurrencies as interchangeable base pairs.
Coinone, a South Korea-based cryptocurrency exchange, has officially launched Cross, a cross-border payments application that leverages Ripple’s xCurrent product to increase efficiencies. The application, released by Coinone’s payments subsidiary, Coinone Transfer, targets unbanked or underbanked South Koreans by enabling the transfer of funds to Thailand or the Philippines at a low cost.
Gemini, a cryptocurrency exchange heralded by the Winklevoss twins, released an official company blog post this weekend announcing that the firm will support Bitcoin Cash (BCH) custody and trading. The exchange will support only the Bitcoin Cash ABC network at this time, adding that they, “are continuing to evaluate Bitcoin SV over the coming weeks or months, and we may or may not choose to support withdrawals and/or trading of Bitcoin SV in the future.” Additionally, the company detailed that its listing of BCH is pending regulatory approval by the New York State Department of Financial Services.
Gemini, the cryptocurrency trading platform founded by the Winklevoss twins, announced the launch of a mobile crypto trading application in an official blog post today. Accompanying the launch of the crypto trading app is a new investment vehicle, dubbed, “The Cryptoverse,” that is comprised of a basket of cryptocurrencies weighted by market capitalization. While speaking to Bloomberg today, Cameron Winklevoss said that, “A lot of our decisions have perhaps given off a perception that we’re more institutional-based. The reality of the situation is that we have a diverse customer base. And the retail story is just beginning.” The Winklevoss twins went on to detail of a goal to expand reach to Asian markets by 2019’s end.
Good Money, a US neo-banking platform, has closed its Series A investment round that generated USD$30mm led by cryptocurrency-focused merchant bank Galaxy Digital and the founder of EOS (EOS) Block.one. Good Money aims to provide a variety of banking service and certain financial instruments to US account holders while exploring innovative changes to traditional banking practices. “Modern banking is a primary driver of so many issues we as a society face – from economic inequality, institutional racism, environmental destruction to political corruption,” said Good Money founder Gunnar Lovelace. Specifically, Good Money eliminates ATM fees while offering each bank user equity in the company.
Kraken, a notable cryptocurrency exchange, is seeking to raise funding with a USD$4bn valuation for the company and a USD$100,000 investment minimum, according to CoinDesk. In an email to investors, Kraken CEO Jesse Powell wrote, “There is presently a limited time opportunity available to a very small select number of clients to purchase shares.” The email goes on to detail that the exchange will close its offer on December 16th.
OKEx, the second-largest cryptocurrency exchange by daily trading volume, will begin listing Bitcoin Cash ABC under the original Bitcoin Cash ticker (BCH), as per an official announcement Tuesday. Additionally, OKEx will change the Bitcoin Cash SV ticker from BCHSV to BSV. The announcement by OKEx comes after other notable cryptocurrency exchanges have made the same switch, including Coinbase and Gemini.
PayPal, an online payments portal, has launched its own internal private blockchain platform that will allow staff to trade and exchange tokens while generating ideas and participating in programs to foster innovation, as per a report by news outlet Cheddar. The private blockchain network, which was built by 25 PayPal employees in just 6 months, will allow employees to earn more for enrolling in learning and development programs. The PayPal tokens are not tradeable, or worth anything for that matter, outside PayPal’s blockchain.
PricewaterhouseCoopers (PwC), a big four consulting firm, is partnering with Bitfury Group, a large blockchain software and mining firm, to develop a blockchain accelerator specific to Russian businesses. As per an official press release by PwC, the partnership will leverage Exonum, Bitfury’s open source framework to build blockchain applications, for educational courses and seminars. The partnership aims to meet the, “current needs,” of PwC’s enterprise clients in Russia.
Revolut, a digital banking alternative with an in-application cryptocurrency exchange, announced that it has been awarded a European banking license. Seeking to become the, “Amazon of banking,” the license will allow Revolut to offer traditional banking services alongside its current cryptocurrency offerings to European customers. Nikolay Storonsky, Founder and CEO of Revolut, said in regards to the newly acquired license that, “With the banking license now secured, commission-free stock trading progressing well, and five new international markets at final stages of launch, we are living up to our reputation as the ‘Amazon of Banking’. Our vision is simple: one ap with tens of millions of users, where you can manage every aspect of your financial life with the best value and technology.”
Shinhan Bank, the second-largest commercial bank in South Korea, is launching a new project to implement blockchain technology in its internal processes with a goal of eliminating human error. According to a report by news outlet The Korea Times, Shinhan also recently completed a training program for its staff to increase their knowledge of blockchain technology across various applications. After Shinhan implemented blockchain technology for interest rate swap transactions on November 30th, South Korea’s second-largest bank is now aiming to apply the technology in its record-keeping process to enhance overall efficiencies.
SolarisBank, Germany’s second-largest and Europe’s ninth-largest stock exchange, is partnering with Stuttgart Exchange Group, a German fintech company, to jointly develop a cryptocurrency exchange. As per a report by Cointelegraph Germany, the joint cryptocurrency exchange venture, “is scheduled to launch in the first half of 2019.” This news comes after SolarisBank announced plans to launch a zero-fee cryptocurrency trading application this past May.
The Canadian city of Calgary is becoming the first city in Canada to launch a digital version of its local currency, according to a report by the Global News. Dubbed as the Calgary Digital Dollar, the digital currency will be exclusive to Calgary and operate alongside the country’s Canadian Dollar. Calgary-based businesses will now be required by law to accept at least 10% of a payment in digital currency, although they are allowed to accept up to 100%.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is launching a pilot of its Global Payment Initiative (GPI) to combat growing blockchain and fintech solutions, according to an official announcement last week. Currently, the SWIFT Network is used by global financial institutions to conduct global financial payments and cross-border transfers of fiat currency. Although the project is still in its early stages, the GPI pilot hopes to, “build the foundation of a new integrated and interactive service that will significantly improve efficiencies in the payments process and which will ultimately be made available to all 10,000 banks across the SWIFT network.”
The United Arab Emirates’(UAE) central bank is partnering with the Saudi Arabian Monetary Authority (SAMA) to develop a cryptocurrency to facilitate cross border transactions between the two countries, according to a report by news outlet GulfNews. In a meeting pertaining to global banking standards and regulation in the Arab region, Mubarak Rashed Al Mansouri, the governor of the UAE’s central bank, said, “This is probably the first time ever that witnesses the cooperation of monetary authorities from different countries on this topic and we hope that this achievement will foster similar collaboration in our region.” The prospective digital currency will be used by both central banks and financial institutions in the countries.
TokenSoft, a security token offering (STO) startup, has acquired a 20% stake in regulated broker-dealer Marpine Securities LLC in order to launch its own regulated broker-dealer. After acquiring the 20% stake, TokenSoft will launch its new regulated broker-dealer entity, called TokenSoft Global Markets, that will be registered through the Financial Industry Regulatory Authority (FINRA). The new regulated broker-dealer entity will allow TokenSoft to advise token issuers through every step of the Initial Coin Offering (ICO) process. Additionally, TokenSoft will now be able to legally operate in services related to insurance and management.
Tom Lee, co-founder of Fundstrat Global Advisors and a notable cryptocurrency pundit, believes that the current fair value of Bitcoin (BTC) is between USD$13,800 and USD$14,800, according to a note published on Thursday. Lee arrived at this valuation by taking into account the number of active wallet addresses, usage per account, and other supply and demand metrics. Additionally, Lee forecasted that the fair value of BTC will reach USD$150,000/coin once BTC wallets account for 7% of Visa’s 4.5bn account holders.
UAE Exchange, an exchange based in the United Arab Emirates (UAE), is partnering with Ripple to launch a blockchain-based cross-border remittances platform by 1Q2019, as per a Reuters report on Thursday. The report details further that Finablr, a payments and foreign exchange company that owns UAE Exchange, observes a high level of remittance inflows from expatriate workers in the Middle East region. “We expect to go live with Rippel by Q1, 2019 with two other Asian banks,” said Finablr CEO Promoth Manghat, adding, “This is for remittances to start with, from across the globe into Asia.”
De Nederlandsche Bank, the Netherlands’ central bank, will soon require domestic cryptocurrency providers to obtain a license from the regulator to operate, as per a report by Dutch news outlet DeTelegraaf. The Netherlands' central bank is taking these measures in the hope that it will, “prevent such cryptocurrencies from being used to launder money obtained through crime or to fund terrorism.” In order to receive a license, cryptocurrency firms must maintain Know-Your-Customer procedures and report any suspicious activity to the Dutch central bank.
Eddie Hughes, a conservative member of the United Kingdom’s Parliament, suggested that Bitcoin (BTC) should be accepted as legal tender for tax and utility payments, according to news outlet Express.co.uk. The article discusses that Hughes, who is a self-described, “crypto enthusiast with amateur knowledge,” recently met with the Royal National Lifeboat Institution, which accepts cryptocurrency donations. This news comes after the US state of Ohio announced that it would begin accepting BTC as legal tender for tax payments.
Following a case in Canadian courts that resulted in a ruling ordering mistakenly sent crypto funds to be returned to their owner, a blog post from the University of Oxford Faculty of Law is noting that there could be repercussions with the case potentially setting a precedent for lost or stolen cryptocurrency claims. The Canadian court case’s ruling will require defendant Brian Wall to return USD$370,482 worth of Ethereum (ETH) tokens to the plaintiff, Copytrack. The blog post from the University of Oxford Faculty of Law reads, ‘This precedent may have major repercussions for the enforcement of claims regarding lost or stolen cryptocurrencies,” adding that the ruling allows the plaintiff to recover tokens, “in whatsoever hands those Ether Tokens may currently be held.”
Japan’s government is considering plans to ease cryptocurrency taxes in an effort to revitalize the domestic cryptocurrency and blockchain industry. This week, Japanese Congressman Takeshi Fujimaki proposed four significant changes to taxation requirements pertaining to digital assets, which include: a reduction on the cryptocurrency gains tax from 55% to 20%; elimination of taxes on crypto-to-crypto payments; elimination of taxes on miniscule cryptocurrency payments; and an adjustment that would allow cryptocurrency investors to carry forward losses across quarters and years, effectively until cryptocurrencies are ‘cashed’ out.
Jay Clayton, Chairman for the United States Securities and Exchange Commission (US SEC), said during a speech that Initial Coin Offerings (ICOs), “can be effective,” for fundraising, but that, “securities laws must be followed.” Clayton went on in his speech to comment on the US SEC’s work regarding distributed ledger technology (DLT), digital assets, and ICOs, saying that it is an, “area where the Commission and staff have spent a significant amount of time,” and, “that this trend will continue in 2019.”
Jay Clayton, the Chairman of the US Securities and Exchange Commission (SEC), expressed his optimism for distributed ledger technology’s potential impact on traditional financial markets in a testimony before the US Senate Committee on Banking, Housing, and Urban Affairs yesterday. According to a transcript published on the SEC’s website, Clayton said, “I am optimistic that developments in distributed ledger technology can help facilitate capital formation, providing promising investment opportunities for both institutional and Main Street Investors.” Additionally, Clayton highlighted that the SEC is, “Focusing a significant amount of attention and resources on digital assets and initial coin offerings (ICOs).”
Maxim Akimov, the Deputy Prime Minister of Russia, announced that no significant changes will be made to the draft of a bill concerning cryptocurrency regulation in the country, as per news outlet Finmarket. The bill was already approved by Russia’s parliament, the State Duma, in May 2018, although the bill has generated substantial discussion since. Since approval of the bill, all cryptocurrency and token-related terminology have been removed and replaced with the term “digital rights”. At the beginning of December, Pavel Krasheninnikov, Chairman of Russia’s State Duma, said that the bill needed to be, “significantly,” changed.
Pan Gongsheng, a deputy governor of the People’s Bank of China, highlighted that Security Token Offerings (STOs) in China are illegal while speaking at a summit in Beijing. As per a report by news outlet the South China Morning Post, Gongsheng told the summit that, “illegal financing activities through STOs and ICOs were still rampant in the mainland despite a nationwide clean-up of the cryptocurrency market last year.” In citing reasoning for the continued ban on STOs, Gongsheng explained that, “Virtual money has become an accomplice to all kinds of illegal and criminal activities.”
Pantera Capital, a blockchain and cryptocurrency-focused investment firm and hedge fund, is warning investors that as much as a quarter of their ICO project could potentially be violating US securities laws, according to a Bloomberg report. In a newsletter to clients, Pantera Capital warned, “While we believe the vast majority of the projects in our portfolio should not be affected, approximately 25% of our fund’s capital is invested in other projects with liquid tokens that sold to US investors without using Regulation D or Regulation S”
Russia has no intention of implementing Venezuela’s state-backed digital currency, the Petro, into commercial operations, according to a report by news outlet RIA Novosti. While speaking to reporters this week, Russian Deputy Finance Minister Sergey Storchak said, “Representatives from our tax service and central bank... got acquainted with the cryptocurrency Venezuela is introducing,” adding, “But no more than that. As for payments, they’re not happening yet.”
South Korea’s representative body, the National Assembly, held its first official meeting with seven of the country’s largest cryptocurrency exchanges on Monday. The purpose of the meeting was to debate cryptocurrency regulation between stakeholders of South Korea’s cryptocurrency industry. Cryptocurrency exchanges Bithumb, CobitCoin, Coinone, Upbit, Gopax, Coinplug, and Hanbitco were among the attendees of the debate, which reportedly focused on Anti-Money Laundering (AML) customer protections and Know Your Customer (KYC) procedures.
The United Kingdom’s Financial Action Task Force (FATF), an intergovernmental financial security body, is calling on the country’s government to increase monitoring of cryptocurrency markets. According to an official report last week, the UK must overhaul its Anti-Money Laundering (AML) and combat terrorist financing (CFT) efforts in order to prevent illicit activities with cryptocurrencies. “Virtual currency exchange providers are not yet covered by AML/CFT requirements,” the report details, adding, “this is an emerging risk and there is not yet evidence to suggest that broad scale ML/TF is occurring in the UK through this relatively small sector.”
The United States Commodity Futures Trading Commission (CFTC) is interested in learning more about the Ethereum (ETH) network, its technology, and the markets build around it. On Tuesday, the CFTC published a Request for Input (RFI) that requests the public’s feedback on different questions concerning Ethereum. The RFI explains that its goal is to inform the CFTC about Ethereum and similar emerging technology, saying, “The input from this request will advance the CFTC’s mission of ensuring the integrity of the derivatives market as well as monitoring and reducing the systematic risk by enhancing legal certainty in the markets. The RFI seeks to understand the similarities and distinctions between certain virtual currencies, including here ether and bitcoin, as well as ether-specific opportunities, challenges, and risks.”
The United States Securities and Exchange Commission (US SEC) is ordering that cryptocurrency asset manager CoinAlpha Advisors LLC pay a USD$50,000 fine, alleging that the firm conducted an unregistered securities sale. After forming in October 2017, CoinAlpha raised more than USD$600,000 from investors to invest in digital assets. In an official release, the US SEC said that CoinAlpha did not file a Notice of Exempt Offering of Securities, meaning that the firm breached securities laws by soliciting securities investors. Additionally, the firm allegedly did not adhere to proper know-your-customer procedures to verify that investors were accredited.
Venezuela is reportedly beginning to convert its citizens’ monthly pension payments into Petros, Venezuela’s controversial state and oil-backed cryptocurrency, according to a report by local economics blog the Caracas Chronicles. The conversion of Venezuelan pensioners’ payments into Petros came after the country already sent pensioners their monthly payment in the form of a check for Venezuelan Bolivars -- normally, upon receiving their check, pensioners would deposit their funds into a bank account where they could then withdraw fiat from local branches. The Venezuelan government, however, converted pensioners’ fiat payments into the Petro upon their deposit into a bank. In the first few weeks of the Petro’s existence, its value has risen from 9,000 to more than 15,000.
Warren Davidson, an Ohio Congressman and notable advocate of blockchain and digital assets, is floating blockchain technology as a solution to fund US President Donald Trump’s prospective US-Mexico border wall. While interviewing with NPR, Congressman Davidson suggested, “the American people, or whomever should choose to donate,” could pay for the border wall, adding, “you could do it with sort of like a crowdfunding site or you could do a blockchain and you could have WallCoins.”
“The long-term value of Bitcoin (BTC) is more likely to be USD$100 than USD$100,000,” says Kenneth Rogoff, a former Chief Economist for the International Monetary Fund (IMF) and the current Harvard University Professor of Economics and Public Policy. While writing an article for major UK news outlet The Guardian, Rogoff highlighted that, because BTC’s use is limited to transactions, it makes the digital asset more vulnerable to a bubble-like collapse. Rogoff also cited that BTC’s energy-intensive verification processes is, “vastly less efficient,” than systems that leverage, “a trusted central authority like a central bank.”
A new report by PeckShield, a blockchain security company that monitors various cryptocurrency ecosystems, details that decentralized applications (DApps) on the EOS (EOS) blockchain have lost as much as USD$1mm in hacks since July 2018. The report details further that DApps on the EOS network have sustained 27 breaches since July, which are responsible for the up to 400,000 EOS that have been compromised from hacks. Guo Yonggang, a blockchain security expert cited in a report on the matter by crypto media firm Blockchain Truth, believes that the hacks can be attributed to security problems with the DApps themselves, rather than with the EOS network.
A new study published by the Cambridge Centre for Alternative Finance on Wednesday finds that the number of unique ID-verified cryptocurrency users nearly doubled in in the first 3 quarters of 2018. The study details that total ID-verified users increased to 35mm in the first three quarters of 2018 from 18mm at the end of 2017, representing an increase of 94%. As per an analysis of the study by Bloomberg, the growth of crypto’s userbase despite the market decline, “could signal that an eventual recovery could be coming.”
Amid the continued cryptocurrency sell-off, only two cryptocurrency mining machines remain profitable, according to real-time data from ASICMinerValue.com. ASICMInerValue.com, which calculates the profitability of Application-Specific Integrated Circuit (ASIC) miners, indicates that only indicates that only the Ebank Ebit E11++ and ASICminer 8 Nano 44Th mining models are profitable for mining cryptocurrencies based on the SHA-256 hash function -- notable cryptocurrencies like Bitcoin (BTC) and Bitcoin Cash (BCH) use this has function.
Bitmain, a large Chinese cryptocurrency mining firm, announced that it is closing its development center in Israel, citing current cryptocurrency market conditions. In closing Bitmaintech Israel, the crypto mining giant was forced to fire all 23 employees. Among the employees let go is Gadi Glikberg, head of Bitmain’s Israeli branch and Vice President of International Sales, who said on the recent market turmoil, “The crypto market has undergone a shake-up in the past few months, which has forced Bitmain to examine its various activities around the globe and to refocus its business in accordance with the current situation.”
Busan, a major South Korean city, will be the beneficiary of the South Korean government’s plan to spend 4bn Korean won (USD$3.5mm) to establish a blockchain-enabled virtual power plant (VPP). As per a report by South Korean news outlet Yonhap News Agency, the project will be angled as a national competition in 2019, hosted by South Korea’s largest electric utility, Korea Electric Power Corporation (KEPCO). The VPP will integrate the idle capacities of multiple energy resources through a cloud-based distributed ledger in order to optimize power generation and decrease costs.
Church’s Chicken, a large international fast food franchise, is partnering with Dash Venezuela to accept cryptocurrencies in its Venezuelan locations. According to an official press release, 13 Church’s Chicken establishments will begin accepting Dash (DASH) as payment following, “extensive and rigorous days of training,” staff to understand cryptocurrencies. With the addition of Church’s Chicken, more than 2,200 establishments in Venezuela accept DASH as payment.
Crypto.com, a Hong Kong-based cryptocurrency payments platform, announced the appointment of former PayPal executive Tyson Hackwood to serve as the firm’s Vice President and Head of Global Merchant Acquisition in an official press release today. Crypto.com aims to increase cryptocurrency adoption by both merchants and consumers through their point-of-sale (PoS) transaction terminals. Crypto.com CEO Kris Marszalek believes that Hackwood will be integral in furthering this goal, saying, “As we develop the Crypto.com Chain to fulfill the current industry need to pay and be paid in crypto, Tyson will play an important role in expanding the number and quality of merchants that are part of our network.”
Hyperledger, a notable blockchain consortium, is continuing its robust expansion after announcing the addition of 16 new members at the Hyperledger Global Forum in Basel, Switzerland. Among the notables to join the consortium are, Alibaba Cloud, Citigroup’s Citi Ventures arm, and Deutsche Telekom. The latest addition of 16 members brings the total membership of Hyperledger to more than 260 different companies. In a public statement, Hyperledger Executive Director Brian Behlendorf said that, “The growing Hyperledger community reflects the increasing importance of open source efforts to build enterprise blockchain technologies across industries and markets. The latest members showcase the widening interest in and impact of DLT and Hyperledger."
Jeremy Henrickson, the former Chief Product Officer at Coinbase, has departed the US-based cryptocurrency exchange after serving since July 2016. “Jeremy’s contributions to Coinbase over the past two years were invaluable,” said a Coinbase spokesperson, adding that, “he helped to build our scrappy startup team into a high-functioning product and engineering organization -- overseeing a 5x+ growth of the team.” Henrickson’s departure comes after long-term Coinbase executives Adam White and Hunter Merghart left the US-based cryptocurrency exchange in recent months.
LinkedIn’s, “2018 U.S. Emerging Jobs,” report released on Thursday ranks the role of blockchain developer as the fastest growing job in the United States. The report by LinkedIn indicates that blockchain developer jobs have increased 33-fold in the past 12 months alone. San Francisco, New York City, and Atlanta are among the cities with the highest demand for blockchain developer jobs.
Orbs, a unique hybrid blockchain platform, raised more than USD$15mm in cryptocurrencies to fund its development of a public blockchain, according to a company blog post. South Korean application provider Kakao lead the fundraising efforts with a representative telling CoinDesk that the company, “always seeks to invest and support innovative startups, and Orbs is a good example.” In total, Orbs raised 139,000 Ether (ETH) and 892 Bitcoin (BTC), amounting to roughly USD$15.4mm. Orbs aims to build a public blockchain with this funding that is, “universal,” and, “scalable,” for decentralized applications (DApps) with the, “liquidity of a base layer.”
Samsung has reportedly filed patent applications for three different blockchain-related trademark requests that all pertain directly to smartphones, according to news outlet Galaxy Club. Specifically, the patents named “Blockchain KeyStore”, “Blockchain Key Box”, and “Blockchain Core” all pertain to cryptocurrency custody capabilities on smartphones. This news comes amid the release of HTC’s Exodus 1 and Sirin Labs’ FINNEY, both of which are being marketed as blockchain smartphones with cryptocurrency custody capabilities.
Bizanc is a decentralized platform for commercialization of digital assets, operating on a Blockchain architecture, allowing trading of cryptocurrencies such as Bitcoin, Ether and Tokens of the Ethereum network, as well as the issuance of Tokens within the Bizanc network itself. The platform aims to enable, in addition to a market of strictly digital assets, the tokenization and negotiation of conventional tangible and financial assets, such as: bonds, commodities, derivatives, reward and loyalty program points, and other fiduciary currencies. The decentralized structure of the Bizanc network confers a highly resilient, superior environment in availability and security by eliminating single points of failure, and reducing transaction costs compared to conventional solutions. Bizanc aims to provide greater liquidity to cryptocurrencies and accelerate the adoption of decentralized solutions by the market.
With the advent of Bitcoin in the last decade and the explosion of the cryptocurrencies derivative market in recent years, distributed systems technologies take space in the most diverse economic spheres, with the market demonstrating a strong interest in Blockchain, Distributed Ledgers and Smart Contracts technologies. Cryptocurrencies are beginning to emerge as a possible alternative to the traditional financial system, monetary policies and dirigism by central banks; allowing the transfer of significant amounts of financial values with security and agility, regardless of jurisdiction, free from the ties of traditional banking systems, forming a truly global market. Traditional institutions are studying ways to adopt technology. However, one of the main difficulties faced by cryptocurrencies are the entry barriers to operate in this market. Despite the immense value attributed to the security and resilience of networks such as Bitcoin and Ethereum, contradictorily almost all of the trading of its assets still depends on centralized services, subject to all the flaws and problems that crypto-coins were created to solve. From the conception of Bitcoin until the year 2018, there are more than 30 cases of hacked Crypto Exchanges, totaling more than a billion dollars in total losses, without considering the negative impact of this incidents on the public perception and the demand for cryptocurrencies.
In the face of these challenges, the idea of Bizanc, an open decentralized platform, using Blockchain’s own protocol with a specific focus on value negotiation, was born, with the aim of facilitating and accelerating the adoption of cryptocurrencies. Bizanc mediates the interoperability between distinct Blockchains, and allows peers to pass market orders to a network composed of autonomous nodes responsible for ordering and executing in Bizanc’s public Blockchain, guaranteeing high audibility and transparency to the operation of the network. The Bizanc platform also features native token functionality, allowing users to easily merge digital assets with pre-established emission rules without the work of developing a proprietary Blockchain solution and leveraging the security and robustness of the Bizanc ecosystem.
The Bizanc platform has four basic functionalities: value transfer, exchange, Token generation and atomic swap. Value transfer is the basic functionality of all cryptocurrencies, allowing users to move units of value between accounts. In Bizanc users can transfer any asset present in their wallets, such as the native currency BIZ, Bitcoin, Ether and Ethereum Tokens, or native Tokens generated in the Bizanc network. In the Exchange environment, it is possible for the user to perform market operations, buy and sell orders, and order cancellations. Token generation transactions allow users to establish a unique ticker name and symbol on the network, total stock of Tokens, and public keys that are allowed to manage the Token. The atomic swap structure enables you to establish an account with a pre-allocated amount of an asset, and other users can deposit assets into this account and convert them to a pre-determined rate. This functionality exists to facilitate the distribution of assets and the organization of ICOs (Initial Coin Offering). All operations are transmitted by the users to the network of nodes, which propagates the operation until its eventual mining. A fee is charged on the operation, and brokerage on executed market orders. The Bizanc platform has its native currency, BIZ. BIZ serve as an award to miners who succeed in mining a block, and as a basis in asset pricing and intermediation between market operations. Intermediating between BIZ and currency pairs in the Exchange environment enables the functionality of pathfinding. Pathfinding allows orders to be matched indirectly, in separate order books. For example, supposing Alice wants to buy ETH by paying on BTC and Bob wants to sell OMG and buy BTC, by the time Carol sends an order to buy OMG by paying in ETH, the platform is able to automatically marry Carol’s order with Bob, and of Bob with Alice. This operation takes place atomically; or it runs at all ends, or does not occur, freeing participants from the counterparty risk. A: BTC> ETH B: OMG> BTC C: ETH> OMG With these functionalities, Bizanc aims to provide superior usability and significantly enhance the liquidity of the cryptocurrencies market. Following the Bitcoin model — the first and most well-established crypto-model — the Bizanc network adopts a proof-of-work (PoW) consensus algorithm. In a PoW scheme, mining nodes must generate a cryptographic proof of computational capacity spent through a hashing algorithm to generate a valid transaction block that can be transmitted and assimilated by the rest of the network. In the Bizanc network, mining nodes are rewarded with an amount in native BIZ currency for each mined block.
Bizanc expands on Blockchains standard functionality to allow, in addition to value transfering, to also enable a Decentralized Exchange (DEX) structure. Users can send bid or ask orders, choosing the asset, quantity and price to be negotiated, which will be propagated to all nodes of the network. Open orders are stored in a temporary chain state, that changes after each order is mined, and is replicated on all nodes, until they are totally or partially matched to other orders. At the time the order matches, and once the block is confirmed the funds are properly credited. This arrangement allows the Exchange operation to be open and transparent. Membership is free, any user can devote computing power to the mining function and ensure the integrity of the network. All transactions — whether transferring securities, trading, or deposits and withdrawals of assets — are permanently registered and accessible at Blockchain. It is also possible to verify the total volume of assets within the network, even those stored in account and not actively traded. The matching of orders occurs in a distributed way, by all the mining nodes. These characteristics make frauds and bad practices possible in centralized services become unfeasible, such as falsification of trading volume or selective match of orders.
Emission of tokens
Token and atomic swap functionality is intended to provide a complete solution to asset Tokenization and an effective digital asset distribution system. A Token generation request is sent to the network, specifying parameters such as Token name and ticker symbol, supply and other public keys allowed to manage the Token. Nodes confirm that the name and ticker are unique, not conflicting with existing Tokens, and the request is mined and Tokens are generated. A specific fee is charged to avoid network spam or malicious Token generation. Each Token is identified by a unique hash.
Bizanc also enables the establishment of Atomic Swap orders. An operation is sent to the network determining the asset to be sold and which assets are to be accepted as form of payment, total amount and price. Other users may then transfer the predetermined assets so that they are converted to the target asset automatically (once the transaction is confirmed in one block) and atomically, without counterparty risk.
With such functionalities, Bizanc intends to accelerate the adoption of cryptocurrencies and interconnect the real economy with the virtual, overcoming the current entrance barriers and generating an ecosystem with minimal friction. Stable currency-backed securities and other fiduciary currencies may serve to facilitate the adoption of cryptocurrencies by the traditional market. Small businesses and retailers, for example, can take advantage of the security, agility, and reduced transaction fees offered by Blockchain solutions, and still hedge against the volatility of cryptocurrencies by automatically converting their values into some stable coin. Industries can organize open and decentralized exchange systems, representing exchange credits in tokens. Communities can create currencies specific to their local economies. The goal is to enable organizations that are not possible before, with less dependence on intermediaries, more transparency, enabling a truly global and barrier-free market. This paper introduces the proposal of a Decentralized Exchange, describes its functionalities and possible advantages compared to available centralized services. It is proposed a platform in Blockchain that allows, in addition to exchange of values, asset trading and generation of Tokens natively. It also outlines platform applications and attracts them to its adoption. For further information, please get in bizanc.io userguide: https://bizanc.io/documentos/EN-TutorialTestnet.pdf Airdrop is coming, if you want to receive invite please send your email on this forms. Please access to: bit.ly/2Jf9CXr Thanks for reading!
All We Know About Cryptbontix (DIG) + Other Tokens
“If you want to go to the future, you have to go to the past. The future of money is gold.”
Arbitradehas acquired Cryptobontix, and although they both have different but complementary business models, they have formed a symbiotic relationship benefiting both parties to bring you this multidimensional asset class. Cryptobontix is the company responsible for creating a family of tokens backed by precious metals such as Gold, Silver, Platinum and Palladium. Currently, you will not be able to find a lot of information on their website, because:
“The website is awaiting legal approval from our council and council of our newly developed partners before we can release details of our operations and partnerships.”~Cryptobontix
The Cryptobontix Inc. development team has created four cryptocurrencies based on the Etherium smart contract technology (ERC20 Token), which are backed by valuable hard-backed assets. These include:
Dignity (DIG) – backed by ingot of gold bullion
Namaste (NAM) – backed by ingot of silver bullion
Orectic (ORE) – backed by ingot of palladium bullion
Honor (HNR) – backed by ingot of platinum bullion
Key Features Of The Asset-Backed Tokens:
Robust security & privacy protection, making it difficult for hackers, corporations and governments to unfairly seize assets.
Faster & cheaper transactions than traditional electronic systems.
Elimination of boundaries and fees associated with international transaction, some bank charges are as high as 10-15% – Baffles the mind to think what big industries and companies must spend on these fees!
How this changes the digital asset landscape and the future
To give you a better understanding of how powerful this family of tokens really is for the future economy, let’s take a closer look at another traditional store of value, money. Money has four functions; It is a:
Store of value
Medium of exchange
Unit of account
Standard of deferred payment
One of the many problems with our traditional monetarysystem is the declining value of our fiat currencies, they are dropping immensely due to the impact of inflation on the economy over time. For instance, the Great British Pound has lost 90\% of its value since 1973 and the price of a pint of milk has increased by 767\% in 40 years. What is commendable and unique about the Cryptobontix Inc. cryptocurrency tokens is that they provide a dependable means of exchange beyond the direct control of national banks, such as the U.S. Federal Reserve, European Central Bank, Bank of Canada, Monetary Authority of Singapore, etc. This is particularly attractive for those concerned about future long-term inflation as a result of:
Loose monetary policy such as quantitative easing(often central banks’ “printing money” by purchasing government bonds).
Near zero interbank lending rates.
Banks going into liquidation such as the recent crash of Deutschebank or India’s war on cash.In 2016 Indias Finance Minister says “honest people” have no need worry. They removed the two large denominations of the rupee (500 and 1000 rupee) from use, stating it will no longer be legal tender. Citizens were given only four hours notice of this change, thus removing 86\% of cash in circulation by value. And in a country where 95\% of all transactions happen in cash and this is where more than 40\% of the population of the country has no bank account. The immediate effect was expected to be a loss of 2-4\% of the GDP of the country, and the ripple effect has been devastating.
By combining bullion, the oldest store of value, with the newest, cryptocurrencies, we believe Arbitrade & Cryptobontix have created both a new hybrid asset class and investment vehicle that has the potential to become a global leader in this sector. We are witnessing the start of a new era in bullion backed digital assets. Trust-less is the key & decentralisation is the strength
“Arbitrade is acquiring $8.7 Billion worth of the four bullions (gold, silver, platinum, and palladium) that will back the company’s four major tokens.” - Arbitrade Management 25/05/18
History: UNY To DIG Swap
The history of events leading up to the rebranding of T.J.L. Holdings to Cryptobontix Inc. has been outlined below:
T.J.L. Holdings launched unity Ingot (UNY) on May 8th 2017. Tokens value proceeded on a gradual decline.
T.J.L Holdings, then rebranded to Cryptobontix Inc.
A 1:1 token swap from Unity Ingot (UNY) into Dignity (DIG) was initiated by Cryptobontix Inc. and took place from the 8th February through to 20th February 2018 on the Livecoin exchange.
During the take-over, a small number of members from T.J.L Holdings remained with the development team in the capacity of consultants until the transfer was completed and the company is successfully operating as Cryptobontix Inc.
Cryptobontix Inc. has a renewed vision of the original idea behind the Unity Ingot project and is now leading a family of tokens into its next stages of expansion.
Backing the Dignity token to Gold will give the token a floor value that matches the true value of the gold. It should be noted that assets usually trade at multiples of theirintrinsic value. Key facts about the Dignity (DIG) token:
The first token of it’s kind to be backed by both:
Mining hardware – 10,000+ high performace mining rigs
Gold bullion -$3 Billion in Gold Bullion ($1 worth of Gold Bullion for every token issued.)
Arbitrade Ltd. has made a definitive deal with Sion Trading FZE Dubai to acquire $10,000,000,000 in gold bullion. The bullion will be held at Brinks’ vault at the Dubai Gold Exchange. The company will have the bullion audited by a major accounting firm that operates in both Bermuda, Dubai and the United States before the end of September 2018 or as the accounting firm’s schedule permits. The audit is not an important factor and is only being done to satisfy U.S. Regulators. Source: Arbitrade news update
How To Get Hold Of Your Physical Assets
According to the existing white paper:
After two years, you will be able to swap your token 1 to 1 for a special utility coupon that grants you your amount of bullion.
These will be redeemable during specific periods each year.
In November of every year, 1/15th of the token float will become available for you to trade your tokens with, until the expiration date of the coupons.
You will then be able to redeem the physical bullion held against the token by using the coupon.
At any point throughout the year, you can place a bullion order at the Cryptobontix website and fill out and send an order form to the prescribed address.
The shipping department will then process the transaction when the November redemption window opens and will ship the physical bullion to the token holders.
Cryptobontix Inc. and Arbitrade have partnered with:
Coin Miner LLC – to provide mining hardware
Cryptotopic Inc. – to build and operate the mining facilities
Arbitrade Ltd. and Cryptotopic Industries have been working with Coin Miner LLC and the build team to create a 100,000 square foot industrial mining facility in Ontario, Canada. A facility that was previously used for metal manufacturing.
Has over five years experience in industrial sized mining infrastructure & development
Over the next 12 months, they aim to provide the facilitities with 65,000 mining units, ranging from high-performance ASIC and GPU mining units such as proprietary G Series mining units with Nvidia & AMD chips achieving 275MH at 1,200 watts each.
Hayden Gill, Arbitrade’s leading advisor & mining consultant, says:
“The D9 miners alone will be generating a minimum of 305 Decred (DCR) per day which is currently trading at $99.90 onCoinMarketCap.com***(June 2018)***
Arbitradeand Cryptobontix have also reported purchasing additional units from Bitmain, Canada Computers & Halong. The mining units will commence operations for:
Arbitrade’s decentralized exchange (DEX)
Cryptobontix’s bullion and cryptocurrency mining backed tokens
Once installed and operational, the facility will mine the most profitable cryptocurrencies such as Bitcoin, Etherium, Dash & Monero. The daily cryptocurrency mining profits are to be used to:
50\% – purchase physical bullion
20\% – buy additional high standard mining rigs
15\% – support buy back tokens and trade exchange marketplaces
15\% – operational cost and upkeep of mining facility
Arbitrade reported it has commenced a 15-year lease agreement with Cryptotopic Inc., an Ontario company that will work with Coin Miner LLC, on behalf of Arbitrade, to build Canada’s largest mining facility in a 100,000 square foot industrial warehouselocated in Watford, Ontario, Canada, which will house the 65,000 mining units. This lease agreement marks the first of four facilities Arbitrade plans to open over the next 36 months with Cryptotopic Inc. and Coin Miner LLC.
Coin Miner LLC
Hayden owns Coin Miner LLC and has been overseeing the mining developments in Watford and Atlanta. Watford has 5MW of current power that can facilitate 4,000 mining rigs to start. Arbitrade, along with Coin Miner LLC, has been successfully negotiating with Hydro One and its partners to bring in up to an additional 150MW of power so that the Watford facility will be among the largest cryptocurrency mining facilities in the world. Currently, the property boasts a massive size of 100,000 square feet, but there are an additional 16 acres available that can accommodate an enormous expansion up to 1,000,000 square feet of mining space. The company, on behalf of Hayden, has been in negotiations to develop the company’s own ASIC mining rigs and GPU miners. The Atlanta facility has already been toured by top stock and crypto analyst Ronnie Moas. Photographs and videos are available on his Instagram account. You can also check the Timeline. IfArbitradeexecute properly, this will make them one of the largest cryptocurrency mining operations globally.
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