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Which Are Your Top 5 Platforms Out Of The Top100? An Analysis.

There are currently a lot of platforms, more specifically, there are 35 platforms within the Top100 only and many do very similar things. How is one supposed to know how they differ? That was the question that I asked myself.
So, I decided to compare all platforms within the Top100. I noticed that they can be put into into 5 different categories. Note: A platform is a cryptocurrency that offers smart contracts at least.
  1. Dapps platforms - 12
  2. BaaS - 11
  3. Liquidity - 2
  4. Misc - 7
  5. Behemoths -3
Here are all platforms in an excel spread sheet in their categories with a description: https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=268170779
In order to find out which one is the best platform in each market currently and made sure to be strict with every platform and point out their flaws.
Let's look at the 5 markets.

1) Dapps platforms

Dapps platforms are definitely a solid bet for the next years. Besides Ethereum, Neo, EOS and Stellar are probably the most known here, however, all 4 are simply extremely centralized and would need to completely change their architecture to become more decentralized. Until that happens, none of these platform can really be considered as a platform with good technology, since everyone can achieve high scalability by letting a few hundred nodes do the consensus algorithm. There is nothing difficult about that. The difficulty is achieving several million TPS with 100,000 nodes deciding consensus.
Cardano, Aeternity are the only ones that seem to be able to maintain excellent decentralization with high scalability, because they scale through side-chains/horizontally.
All platforms considered, Ethereum seems to be on the way there as well with its change to Casper.
  1. Cardano has a great team, has probably the most secure PoS that was peer-reviewed in a scientific approach, has their mainnet launched, has near infinite scalability through sidechains and offers broad usability of Smart contracts in a number of programming languages.
  2. Ethereum is a 2nd generation blockchain that allows the use of smart contracts and dapps on a smaller scope. Ethereum currently has bad scalability, though this concern could be alleviated by the soon to be implemented Sharding concept and its new PoS/PoW consensus algorithm Casper. Still, there are platforms with much more comprehensive dapp ecosystems, and much more scalability. However, Ethereum just closed a partnership with AWS. This is probalby the biggest partnership in the cryptosphere. Though, in order to be better than any of the top 3 platforms, it would need to provide Oracles, a lot more functionality for dapps, partnerships, decentralized data storage, cloud computing.
  3. Neblio is similar to NEO and a good platform, though it has a much smaller market cap.
  4. EOS has high scalability, though is much more centralized than Skycoin, Elastos and Cardano. However, it offers a lot of functionality for Dapps. EOS is overhyped. It is on the same level as Neblio, Neo, Aeternity, but not on the same level as Skycoin, Elastos, IOTA, Cardano.
  5. NEO is a very established platform in this category.However, Neo dapps scale on-chain and can thus clog the network quickly. For that reason, NEO had to pick a very centralized approach to maintain scalability and it looking to rely on hand-picked nodes to maintain scalability in the future, very similar to EOS also very centralized approach of 121 handpicked nodes.
  6. Stellar has similar goals as Ripple, only that it is more a platform than only a currency, so it does offer more functionality. . Stellar uses Byzantine Fault Tolerance in the consensus protocol, which ensures secure consensus can be reached (moving the blockchain forward) even if a large percentage of nodes are disabled or acting dishonestly. It also helps keep nodes distributed. Stellar is a good platform with tight involvement with banks. While it doesn't have as much functionality as all above platforms, it can probably carve out its niche by doing really good business with banks.
  7. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. They don’t need to pay the network for every time they compute and can also operate with greater privacy. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.It also uses prediction markets for various voting and verification purposes within the platform. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov.
  8. IOST: To improve speed and scalability, IOStoken uses a Proof of Believability consensus mechanism eliminating the need for an energy-hungry proof-of-work protocol, which stands as a barrier to blockchain scaling up for widespread adoption. With this system, a node is validated based on its past contributions and behaviors. Moreover, to increase fairness and to most fully embrace the decentralized nature of the blockchain, IOS uses a “fairness” algorithm that randomly distributes data to various nodes. It’s intended to support service-oriented goods and services with large customer bases. Decentralized applications and smart contracts, the hallmarks of blockchain platforms, are a priority for IOS as well.
  9. Request Network: Req payments can be used for online purchases, business to business invoices, escrow, advanced payments and eventually IoT payments between machines. Other than payments, the Request Network is also tackling auditing and budget transparency. Businesses have the ability to track invoices to audit payments as well as record transactions for accounting purposes. Governments, nonprofits, and other organizations can also use Request to bring transparency to their budget and expenditures.
  10. Rchain: Similar to Ethereum with smart contracts, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. However, Rchain has not launched ye..
  11. Ziliqa: Zilliqa is building a new way of sharding, so that 10,000 tps are soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.Rchain is an ok platform.
  12. Ethereum classic is the original Ethereum that decided not to fork after a hack for philosophical reasons. The Ethereum that we know is its fork.

2) BaaS (Blockchain-as-a-Service)

BaaS take a different route to adoption than mere Dapps platforms. They are also dapp platforms, but focus on businesses (B2B) instead of end-users (B2C) within the cryptosphere. They sell their blockchain services to companies, who then can build their own customizable blockchain as a side-chain to the BaaS without hassle and worry about technology or blockchain architecture. This is all handled by the BaaS company already and the customer only needs to change a few variables and they have their own blockchain. Side-chains are interesting, because they allow virtually infinite scaling, since there can be an infinite number of side-chains that only communicate with the main-chain occasionally and handle the majority of transactions on their own chain. This is also called horizontal scaling.
The success of a BaaS platform largely depends on its ability to close partnerships to sell to large businesses and having the best usability. The more contracts they can sell to businesses and institutions, the more valuable it will be. For that reason, the BaaS with the best ability to form partnerships and do sales will win this market. Technology isn't as important here. Of course, the platform has to work without bugs, but having a platform with outstanding technology, average usability and average marketing will lose against a platform with average technology, great usability and great marketing.
  1. VeChain is a Singapore-based project that’s building a business enterprise platform and inventory tracking system. . While it is not really competing with the above mentioned platforms, any of them can build supply management tools into their platform and compete with VeChain. However, VeChain has very strong partnerships. This gives them some protection of any of the above mentioned entering the market. Examples are verifying genuine luxury goods and food supply chains. VeChain has one of the strongest communities in the crypto world. If you are looking for something more high risk, high return, have a look into Ambrosus and Devery(Eve). Both also seem to be good at building partnerships, which is the most important characteristic for a supply chain platform required to succeed.
  2. Icon is called the Korean Ethereum. However, it specializes more on building customizable blockchains for banks, insurance providers, hospitals, and universities, since it's a BaaS. Icon has a focus on on ID verification and payments. Icon is ery close behind Vechain, because with Samsung and Line.
  3. WTC is a supply chain management platform, similar to Vechain, however, with fewer partnerships.
  4. Komodo’s open-source platform is for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains. While it doesn't have as many partnerships as other BaaS, it is the only BaaS that offers privacy so far. However, that's. it such a bug competitive advantage, since it can be replicated rather swiftly.
  5. NEM: The NEM blockchain powers what they call the Smart Asset System. This system is intended to be an open, customizable blockchain solution for any number of use cases built on top of simple, powerful API calls. NEM started as a NXT fork and introduced a new consensus mechanism called Proof of Importance (PoI), designed to reward users’ contribution to the XEM community. It is roughly based on proof-of-stake, but it also reflects how active a user is in transacting with other users. POW rewards powerful computers and also requires excessive amounts of energy. POS gives an unfair advantage to coin hoarders. The more coins they keep in their accounts, the more they earn, meaning that the rich get richer and everyone has an incentive to save coins instead of spending them.
  6. Ark is a fork of Lisk, which is doubling down on a smaller feature set than Lisk. Ark is a good BaaS, though it doesn't have many partnerships. Furthermore, they haven't launched their platform yet.
  7. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc. Dragonchain is a good BaaS, though it doesn't have many partnerships. However, it was funded by Disney, so it might be able to get partnerships more easy.
  8. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain too. Lisk is a good BaaS, though it doesn't have many partnerships. Furthermore, they haven't launched their platform yet.
  9. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.Stratis is similar to Lisk, but also doesn't have many partnerships
  10. ARDR: Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  11. Bytom: Bytom is an interactive protocol of multiple financial assets ( digital currency, digital assets warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.

3) Liquidity

There are really only 2 platforms in the Liquidity market, albeit the Liquidity market could be one of the biggest markets with insitutional investors entering the cryptoworld soon, since there is very little liquidity in Bitcoin. For example, say a pension fund wants to buy or sell $10B in Bitcoins. No single exchange has that many Bitcoins available and it would wreak havoc on the market. This wouldn't be a problem with Liquidity platforms, since they pull all order books together and back up market liquidity with FIAT money among other things.
  1. QASH is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. If the forex conversions and crypto conversions match then the trade will go through and the Worldbook will match it, it'll make the sale and the purchase on either exchange and each user will get what they wanted, which means exchanges with lower liquidity if they join the Worldbook will be able to fill orders and take trade fees they otherwise would miss out on.They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners. More info here https://www.reddit.com/CryptoCurrency/comments/8a8lnwhich_are_your_top_5_favourite_coins_out_of_the/dwyjcbb/?context=3Qash is doing something completely different as the above mentioned. It offers liquidity in an illiquid market. Sell shovels during a gold rush.
  2. Loopring is similar to Qash, only that it functions as a dezentralized exchange, while QASH is more of an API without a user interface. It is a protocol that will enable higher liquidity between exchanges and personal wallets by pooling all orders sent to its network and fill these orders through the order books of multiple exchanges. When using Loopring, traders never have to deposit funds into an exchange to begin trading. Even with decentralized exchanges like Ether Delta, IDex, or Bitshares, you’d have to deposit your funds onto the platform, usually via an Ethereum smart contract. But with Loopring, funds always remain in user wallets and are never locked by orders. This gives you complete autonomy over your funds while trading, allowing you to cancel, trim, or increase an order before it is executed.

4) Misc

These are platforms that are focused on a specialized functionality
  1. Nebulas: Similar to how google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeepers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.Nebulas is the only one doing what it's doing. This makes them very unique and a good investment.
  2. Centrality is a decentralized market place for dapps that are all connected together on a blockchain-powered system. Centrality aims to allow businesses to work together using blockchain technology. With Centrality, startups can collaborate through shared acquisition of customers, data, merchants, and content. That shared acquisition occurs across the Centrality blockchain, which hosts a number of decentralized apps called Scenes. Companies can use CENTRA tokens to purchase Scenes for their app, then leverage the power of the Centrality ecosystem to quickly scale. Some of Centrality's top dapps are, Skoot, a travel experience marketplace that consists of a virtual companion designed for free independent travelers and inbound visitors, Belong, a marketplace and an employee engagement platform that seems at helping business provide rewards for employees, Merge, a smart travel app that acts as a time management system, Ushare, a transports application that works across rental cars, public transport, taxi services, electric bikes and more. All of these dapps are able to communicate with each other and exchange data through Centrality. Centrality is the only one doing what it's doing. This makes them very unique and a good investment.
  3. Salt: Leveraging blockchain assets to secure cash loans. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.Salt is a good lending platform. However, there is also Elixir, a better investment with a 30x smaller market cap, but also strong technology. Elixir has such a low market cap, because they didn't have an ICO and they only focused on development and no marketing. As of last week, they started marketing.
  4. Aion: Today, there are hundreds of blockchains. In the coming years, those hundreds will become thousands and—with ,widespread adoption by mainstream business and government—millions. Blockchains don’t talk to each other at all right now, they are like the PCs of the 1980s. The Aion network is able to support custom blockchain architectures while still allowing for cross-chain interoperability by enabling users to exchange data between any Aion-compliant blockchains by making use of an interchain framework that allows for messages to be relayed between blockchains in a completely trust-free manner.
  5. Waves is a decentralized exchange and crowdfunding platform by letting companies and projects to issue and manage their own digital coin tokens to raise money.
  6. ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain. Chainlink's main functionality is oracles, a functionality also offered by IOTA.
  7. QTUM: Smart Contracts on the Bitcoin blockchain. QTUM is a smart contracts for BTC, a very niche market. Furthermore, BTC might offer smart contracts itself soon and make QTUM obsolete. Hopefully QTUM will expand into more smart contracts functionality to become relevant again.
Nebulas with Indexing the Blockchain world and Salt with Lending are probably the 2 most interesting platforms here. Nebulas doesn't have a single competitor, though there are several competitors to Salt with a much smaller market cap and with similar development progress, ELIX.

5) Behemoths

There are 3 platforms that have not been discussed yet. However, they can do most what the above platforms can do and have the potential to steal the market of all above mentioned platforms. That's why I call them behemoths.
1.) Skycoin :Skycoin is building what Pied Piper is building in the series HBO's Silicon Valley, a completely decentralized internet that is not run by ISPs, but by IoT devices, making telecom providers like Comcast, ISPs who can control bandwith, cost, net neutrality, filters, access etc. obsolete and completely decentralize them. Skycoin offers what 36 coins are offering:
  1. 12 Scalable Currency (Bitcoin, Ripple, Bitcoin Cash, Litecoin, Dash, Bitcoin Gold, Nano, Bitcoin Diamond, Dogecoin, Digibyte, Decred, Bitcoin Atom)
  2. 10 Smart Contract and Dapps platforms (Cardano, Ethereum, Neblio, EOS, Stellar, Neo, Rchain, IOST, Ziliqa, Eth classic)
  3. 10 BaaS (VeChain, Icon, WTC, Ontology, Komodo, NEM, Ark, Dragonchain, LISK, Stratis).
  4. 4 Decentralized Storage (Siacoin, Maidsafe, Gybte, Storj)
If you think that the decentralized Internet will blow all other markets out of the water and will be the biggest invention of this decade, then Skycoin is your pick, because covers that and what 27 coins do.
2.) IOTA: With the launch of Q 1 week ago, IOTA is about to offer what 27 platforms within the Top 100 are offering (!) and they are probably looking to replace several more.
  1. 12 Scalable Currency (Bitcoin, Ripple, Bitcoin Cash, Litecoin, Dash, Bitcoin Gold, Nano, Bitcoin Diamond, Dogecoin, Digibyte, Decred, Bitcoin Atom.)
  2. 10 Smart Contract and Dapps platforms (Cardano, Ethereum, Neblio, EOS, Stellar, Neo, Rchain, IOST, Ziliqa, Eth classic)
  3. 2 Oracles (Aeternity, ChainLink)
  4. 3 Outsourced Cloud Computing (DBC, Aelf, Golem)
IOTA is at the same level as Skycoin and Elastos. However, SKY's flagship product is the Decentralized Internet and ELA's is the most comprehensive dapps operating system in the cryptosphere, which IOTA cannot really replicate in the near future, because it takes years of reseach and development. This protects ELA and SKY from IOTA for now.
However, it looks like IOTA can snatch up all the smaller, easier to replicate markets, such as cloud computing, oracles, smart contracts, decentralized storage, currency exchange and soon possibly also supply chain management, BaaS functionality, privacy, security identification since none of those are really hard to build. However, Skycoin and Elastos will probably focus on their flagships and leave IOTA to scoop up all the rest. It will be an interesting year.
3.) Elastos started out as a mobile operating system 18 years ago and has now moved towards a smart contracts platform, operating system and a runtime environment for Dapps. Thanks to side-chains they are near infinitely scalable and is thus also very decentralized. Elastos is offering what 36 coins are offering
  1. 12 Scalable Currency (Bitcoin, Ripple, Bitcoin Cash, Litecoin, Dash, Bitcoin Gold, Nano, Bitcoin Diamond, Dogecoin, Digibyte, Decred, Bitcoin Atom.)
  2. 10 Smart Contract and Dapps platforms (Cardano, Ethereum, Neblio, EOS, Stellar, Neo, Rchain, IOST, Ziliqa, Eth classic)
  3. 10 BaaS (VeChain, Icon, WTC, Ontology, Komodo, NEM, Ark, Dragonchain, LISK, Stratis).
  4. 4 Decentralized Storage (Siacoin, Maidsafe, Gybte, Storj)
If you are very convinced that BaaS solutions and dapps platforms will be the big winners for 2018, then Elastos is your pick as far as I can see, because it is probably the best BaaS and dapps platform with near infinite scalability and the best decentralization and thus does what 32 coins do.
3 Closing Questions
All of the above findings leave me with those 3 questions. What are your thoughts?
  1. Why invest in any of Dapps platforms (Cardano, Neblio, EOS, Stellar, Neo, Aeternity, Rchain, IOST, Ziliqa, Ethereum, Eth classic) when Elastos and Skycoin do everything they do, are much more decentralized and scalable through side-chain/off-chain/horizontal scaling and offer lots more functionality beyond that?
  2. Why invest in any BaaS (Ontology, Komodo, NEM, Ark ,Dragonchain, LISK, Stratis, ARDR) if ICX and VeChain offer everything what all of the above offer and already have 10x more partnerships than their competitors?
  3. It looks like out of all 35 platforms, only 5 are really strong: IOTA, Skycoin, Elastos, VeChain, ICX. While the first 3 seem to cover already almost half of the top 100, the last 2 really convince in the partnership department. What's the argument for investing in any of the 30 other platforms? Maybe that they can specialise on a specific feature set, however, is this really a convincing argument? The cryptoworld is harsh and if you can't keep up with competition, you'll be moved out of the market quickly.
submitted by galan77 to CryptoMarkets [link] [comments]

[Discussion] Would you guys like an "AMA" post where I share some knowledge/info with you?

I've been around for ~4 years and have cleared 6 figures trading. I'd be happy to help answer questions or offer advice, if it's wanted. I'm pretty much done trading items now, as I've gone balls deep into crypto. I started with ~$50 and got to where I am now. Along the way, I have learned how to make money in a large number of niches. If interested, I can share the whole story and answer questions "live". Lemme know!
Edit 1:
Fk it, let's do it live.
Go ahead and throw some questions at me and I'll respond as I can.
Edit 2:
My story
I started off small, compared to most. In fact, my pinned tweet is of my 1st sale - a single awp asiimov! Hah always makes me laugh to look back at that. Anyway, I build that first bit of money up to around $200 and got scammed... friend impersonator got me. Lost everything, back to $0. I bought back in with like $150 or so, and tried again. This time, I researched all the scam methods I could. I'd learned my lesson.
Moving on, I slowly built up that $150 to around $1 or 2k in about a year. I grinded hard. I lived on csgo lounge and live trade servers. I focused on vanilla, simple guns that were priced a little bit lower than normal. I looked for 1 - 2 k profit deals at first. That got me from the $150 to the ~$500 range. At this point, I knew I needed to make better use of my cash, so I started trading knives mainly. I became THE expert on m9 slaughters and made a killing on them. While it took months (maybe 6) to go $150 -> $500, I went from $500 to $1k in a fraction of the time. That's where I learned about patterned items. I could buy a knife off market or lounge or wherever and resell it for more by focusing on the diamond or the angels on it. My eyes were dollar signs.
Fast forward another year, I got the $5k range and cashed out completely. Along the way going from $1k to $5k, I became THE expert on Karambit Fades. I got to where I could find the exact difference between a true and a fake 90/10, which resulted in some massive profits at times. It took a solid year, but that was my transition to the $5k range.
At that point, I started focusing more on my family. Trading took a LOT of time away and I wanted to be with my family more. I cashed out everything and enjoyed the profits. I even went to Vegas and played in one of the smaller WSOP events (where I lost my ass haha). I didn't care, it was fun. I enjoyed a trip I'd never had been able to take and I got more time with my family.
After about 6 months to a year, an old contact reached out to me. Apparently, we had done a trade and I had made some sort of positive impression on him. He felt he could trust me. He knew I was out of the game, but he pulled me back in with a crazy offer. He was starting to buy from gambling sites directly and wanted me to help him move inventory. I would buy in at a very, very low % and resell for about 15 - 20% profit. The plan was to do this 3 times a week, for as long as we could. I was intrigued... and almost passed. But I scraped together $2k and did it.
The catch here was I could only buy using crypto currency, like Bitcoin. I had NO knowledge wtf this was about, so I was very hesistant. I'm not a risky person, but I saw the opportunity, so I went for it. I figured it out, and was a sort of "early adopter" for the Btc -> CSGO skins scene, because of this setup with my friend. Anyway, after about 2 or 3 months of this, I went from $2k to about $12k. I was blown away. But as is the case with most good things, it had to come to an end. Valve began banning gambling sites, and my money tree disappeared.
At this point, I wanted to see if I could keep things moving and grow the fund more. I was focused on making real money, for the gamily now, not little money for side trips. Been there, done that. I realized I needed to get into the "god tier" market and began communicating with the one and only ROFLM0NSTER . I owe him a lot, as he took me under his wing and helped me grow from the $12k range to where I ended up now.
Year 3 basically was me going from $12k to ~$25k trading Dlores, karambit sapphires, etc. I used csgo exchange to contact old owners of items, make them great offers, then sell to collectors for what I paid + some negotiated %. I met loads of guys I looked up to. I can't tell you how amazing it was to start casually talking to cAre, st4ck, Rofl, Ibuypower, idn, etc. THAT was worth way, way more than any $ I made honestly. Reminds me of that line from logic's song - "Funny how your idols can turn into your brethern".
Year 4, I kicked off with one of my biggest trades ever - the #1 Souvenir Dragin Lore FN. I bought for around $25k in items, and sold in HOURS for around $37.5k. That was unreal.
By the end of the year, I'd cleared the $100k mark. I cashed out a lot along the way and did a lot with it. That list includes:
  • Started a new business (haircuts!)
  • took fam to disney land
  • Spent $5k on a new pc rig
  • Took a trip to Niagra Falls
  • Put money for kids future education
After All that, I had maybe $10 or $20k left, which i chose to put into the crypto scene. I bought into a new currency called ETHEREUM around the $100 mark, and sold at the $350 mark. That single moment was the LARGEST profit I'd ever made, with the least amount of effort, ever! Doesn't always go that way, but this time it did. Since then, I've spent the majority of my free time focusing on crypto and forsee me continuing to do so going forward.
That's it! That's my story, time for Q&A
Edit 3:
Some of my tips for success:
  • 1. If you plan on being around a while, DONT BE A DICK.
I mean, it's really that simple. People want to trade with people they like. I can't tell you how many times I've overpaid just because I was dealing with someone I liked and trusted. And I know others did the same for me too.
  • 2. Remeber who helped you get where you are.
I'm a large donor with multiple sites, and it's not always because I'm "flexing" or whatever. It's because those guys helped me make money. Exchange and metjm especially - those sites were both game changers for me.
  • 3. Don't get caught up in the money.
I traded on the side, part time. I had a family in that time, finished college and a masters, worked full time, and started a side business. These things are all what make you well-rounded. Don't get focused on the $ so much that you miss what life is all about.
  • 4. Demand that you're compensated for your time.
As I mentioned before, I got to meet a lot of "celebrities" as I was coming up. But sometimes, a well known person will still make you bad offers or try to get you to do work for them for "free". There came a time when I had to put my foot down, and not help others unless I was being fairly compensated. For example, one big trader asked for my help obtaining something he could not get. The owner had blocked him and didn't want to deal with him. I got it for him, spending around $3k of my own money to get it. When it came time to trade with my collector, he got angry that I had spent $3k instead of the $2.9k that he wanted to spend (which was not possible). He was so upset, he refused to compensate me anything... for spending $100 more than he wanted... to obtain something important to him... when he was worth $200k or more easily... THAT is the person I never wanted to become.
  • 5. Don't gamble. Ever.
Just don't.
submitted by JackBauerCSGO to GlobalOffensiveTrade [link] [comments]

the strategy: know your asset [stocks/crypto]

the strategy: know your asset [stocks/crypto]
TL;TR: Every strategy is unique, here is only basic info of what you need to do before buy shares or cryptocurrencies. Well, I'm not good at fundamental analysis, looking for correlations and so on or maybe your good post for everyone at this sub.

Here, I want to share my experience with the people who like cryptocurrencies and the stock market. I have my strategy divided in 3 stages, and of course, the first one is the most long one.
  1. Learn more about asset that you want to buy.
  2. Competitors research
  3. Technical Analysis
1. Learn more about asset that you want to buy.
That, to my mind, is the fundamental challenge for everyone who wants to be successful trader. Every project has a white paper, you must read it before buy, it's the best way to understand the team's goals as the company's goals. I have read a lot of white papers and they are different from each other, when the project is really cool its wp is like a very good book for reading, very well written, w/o errors and is truly impressive while reading. Have a questions? Ask them at: official forum, reddit, twitter, telegram, stocktwits, may be at marketknows :).
If the deal is about a stock company, be sure that you understand its business model, you must know what does it produce and export or import and how is good their sales, in other words everything what you can find out about company(P/E ratios, growth, balance sheets, industry performance etc.). Here I can recommend you seekingalpha dot com, there you can find a lot of articles, but almost all of them are currently closed for free read, DM me, and I will show you the smart trick how to avoid it.
More data needs to be collected on the asset you research nonetheless have a duty to carefully select the information that should be used in your decision.
Rule 1 - Read the White Paper. You must do the full research.
2. Competitors research.
You can think that this additional workload will, unfortunately, eat your time and the price of a share/coin/token you want to buy will sky rocket without you, well it's not true. In most cases, it is better to spend a week or two to complete your research and to be certain that you are right than you will purchase illiquid asset. Anyway, you will get the data for analysis which would strengthen confidence in your decision and thus enhance the environment for investment.
3. Technical Analysis
This is my lovely part. First of all you need to analyze the market sentiment, if it's stock market you must check stocks in the same industry, are they experience a decline or follow the uptrend? As example take a "WeedStocks", the last summer - autumn, the whole industry was booming in connection with the forthcoming publication of new law, new partnerships, etc...
"What sparked the cannabis craze of 2018? Well, a number factors shed mainstream light on the long-dormant, niche industry. First, everyone started getting excited in 2018 about the nationwide legalization of cannabis in Canada in October. This was arguably the industry’s biggest catalyst ever, and as pot stocks started listing on U.S. exchanges, investors started bidding those stocks up.
But what really kicked this rally into overdrive was a massive $4 billion investment into Canopy Growth from alcoholic beverage giant Constellation Brands (NYSE:STZ) in August. That was when marijuana stocks took off like a rocket ship. The logic was that big money was finally moving into the space, and thereby legitimizing the long-term potential of the recreational and medicinal cannabis markets.
Alongside this hype, there was a significant amount of volatility. Thus, just as 2018 was the year of the cannabis craze, it was also the year of marijuana stock volatility. After more than doubling between July and October, pot stocks have since broadly dropped into bear market territory, with Canopy, Tilray and Aurora all 35% or more off all-time highs." source: https://investorplace.com/2019/02/4-reasons-marijuana-stocks-pot-stable-2019/
If it's cryptocurrencies market, then you need to know that Bitcoin is the king here, and when its price is rising, almost every token and coin value is going down in Bitcoin equivalent and rising in dollar pair, however, much depends on the state of the digital asset you choose. Future events, news, different rumors etc.. such activities have a direct impact on the price. I understand that with single stack you are dreaming about 2x, 3x, 5x but that may never happen with your favorite currency, but it can happen with another cryptocurrency which you wanted to buy but you hadn't free money, and for that reason a long-term trader must have at least 5 to 10 assets that are easy to track everyday.
And practice.
My rules:
  1. Only uptrend.
  2. Open orders only at start or end of the tf.
  3. Use only 4h, 1d, 3d tf. 1w and 1m can be used to confirm the uptrend.
  4. Use support and resistance lines/levels.
  5. Use MACD and RSI.
  6. Buy, if everything OK.
  7. Set a stop-loss lower than support line.
Examples.
here 1. http://thepatternsite.com/channels.html
Here 2:
$BNB Binance
https://preview.redd.it/c8momco8kk131.png?width=1808&format=png&auto=webp&s=d13e2e034136a3de6ed54d741259cf8ff3049cb3
$PYPL Paypal
https://preview.redd.it/0l9grb4bkk131.png?width=1813&format=png&auto=webp&s=d6a34c8961876ede118c9e01b6f4585b290de518
$DIS Disney
https://preview.redd.it/aly5qntckk131.png?width=1810&format=png&auto=webp&s=e972e11fd7098e0863a50accff2ea0d9efc7eaae
$TGODF
https://preview.redd.it/83h3skcekk131.png?width=1810&format=png&auto=webp&s=bfe76ab8282ae17b1453b39b95e93780b0da6d9b
Thanks for reading and good luck.
submitted by Fanfan_la_Tulip to marketknows [link] [comments]

An overview of WAX and FAQs

Hey there and thanks for taking the time to learn about Virtual Item Exchanges, Worldwide Asset eXchange (WAX), and the decentralization of entire business processes. In this post, I aim to communicate the value proposition of the virtual item exchanges and its relation to the WAX protocol.

What are Virtual Asset Exchanges and the Virtual World Economy?

The term ‘virtual economy’ is no more than the exchanging of virtual items and services with virtual or real currency within a virtual world. Over the last decade, there has been extensive growth in both the number of virtual worlds published and the total number of virtual players. In the last year, 400M+ gamers purchased $50B+ in virtual items worldwide, a number that staggers most anyone not connected to the virtual economies. There is a plethora of evidence for the growth of various virtual economies across a variety of virtual worlds. These virtual items range from in-game cosmetics, weapons, equipment and virtual territory.
Here is the WAX team discussing just how big Virtual Asset Exchanges are.

What is keeping Virtual Item Exchanges from expanding?

With the possible infinite virtual economies, it is no surprise that the industry continues to fragment across hundreds of competing marketplaces. These marketplaces not only have to overcome the internal economics these games provide, but the actual accounting bottlenecks of cross-border transaction fees or being landlocked to trading within your geographic area.
The vast majority of users who wish to buy and sell virtual assets see items stolen, get stuck in a scam, or end up paying exorbitant fees.
Here is the WAX team addressing the bottlenecks of the industry.

So how does WAX resolve this?

The ideal solution to this industrial problem is a global virtual asset repository, accessible to anyone, which provides a complete catalog of all items available for sale in real time. This market will not only have to be global, but impower in-game users to drive their ecosystems economy. A genuinely centralized marketplace would create more market friction across all industries than enabling users to be their own businesses.
Such a repository, when coupled with distributed trust mechanisms, and a reliable, low-cost settlement network, will vastly improve price discovery and market liquidity, thereby increasing market size. WAX is creating a blockchain solution for virtual asset trading. The decentralization of existing solutions like OPSkins.com would remove every bottleneck facing the industry.
WAX will enable virtual asset traders, similar to that of modern marketplaces such as Alibaba, Amazon, Uber, and Airbnb. These platforms enhanced commerce for millions of small business owners and created hundreds of billions of dollars in new value. These tech giants achieved their global success by making their platforms easy to use and widely available, while simultaneously solving expensive problems like fraud prevention, settlement execution, product and seller reviews, standardized catalogs of product information, supply and demand matching just like the issues currently facing virtual asset exchanges.
The WAX team is adamant that this protocol will enhance Virtual Asset Exchanges.

How will WAX use its blockchain?

Through the creation of the WAX token, a platform utility medium, WAX enables users to list items for sale, transact value between each other, settle the transfer of virtual goods, create and service contracts, propose and vote for WAX Guilds. The application of WAX Token is entirely focused on these functions, and developed to enforce security during the digital exchange.
To meet the high throughput demand of markets, WAX will utilize a Delegated Proof of Stake (DPOS, further explanation below) consensus algorithm was selected, with selected confirming nodes, or “Guilds,” focusing on a single game.
Virtual goods’ sales prices are listed in WAX Token; when a user wants to purchase the virtual asset, they pay with WAX Token. If the item is recorded in a different currency (through a site linking to the WAX Platform), the WAX Token must be converted by the listing agent at the current exchange rate at the time of purchase.

Who Is Working On WAX?

WAX is created by the same ownership and team that built OPSkins.com. OPSkins was established in 2015 and became the global marketplace leader for video game virtual assets. The company claims to have facilitated over 100+ million purchases annually for customers across nearly one-hundred countries. When created, OPSkins built a centralized solution to address the most significant needs of the marketplace and systematically reduced the failure rate of exchanges by creating liquidity, settlement due diligence, and shifting fraud loss to the platform rather than the consumer while allowing for cross-border executions.
The CEO of the company is William Quigley was part of former Disney CFO of licensing, a member of idea lab, and many other venture capital opportunities. The team has advisors that worked on Call of Duty, the founder of Interplay Entertainment & inXile Entertainment, a World of Warcraft Executive, the Former CEO of Vivendi Universal Games. To see the full list of team members and advisors you can check their website.
Here is William Quigley talking about why he is qualified to lead WAX to mass adoption.

Frequently Asked Question

submitted by JoshuaSP to WAXtoken [link] [comments]

General info and list of exchanges for Apollo Currency (APL)

Apollo Currency
The World's first all-in-one cryptocurrency incorporating every useful feature utilized in top tier currencies and combining those with unmatched privacy, all in a single decentralized platform.

*NXT Holders - To take advantage of the Apollo airdrop simply login using your NXT credentials
Home About Wallets Exchanges Coin Info Team Shop Whitepaper Roadmap More ... THE ULTIMATE CURRENCY
GO TO APOLLO COIN INFORMATION
About Apollo Utilizing a community of world-class developers, managers, marketers and researchers, the Apollo community, backed by the Apollo Foundation, has set out to accomplish the goal of making Apollo the most technologically advanced, feature-rich currency on the market. The Apollo Foundation understands the demands of a top tier cryptocurrency and they believe they can create a coin that will integrate everything necessary to replace the current currency options. Having started from NXT, a proven cryptocurrency, the Apollo Foundation will continue development with the goal of being first all-in-one cryptocurrency, innovating and incorporating every ability that could be beneficial in a digital currency, all in a single decentralized platform. The first major update, Olympus Protocol, puts mass adoption-proof privacy at Apollo's core. This is because the Apollo Foundation knows the ability for a user to buy, sell, trade and send in absolute secrecy is vital in an industry that could be moments away from intense regulation. The Apollo team is here because they believe the only person or entity that should be in control of your funds is you.
FEATURES Olympus Protocol Olympus protocol will integrate functions allowing for the simple choice of whether to send publicly on the blockchain or privately using the blockchain. As part of this protocol we will be integrating an IP masking feature that will hide the user’s IP address.
We are also working to secure a technology that would keep nodes from being blocked by entities. Olympus Protocol will help make Apollo the safest, most feature-rich privacy coin in existence.
Decentralized Exchange The decentralized exchange is an important feature in the Apollo platform as it allows for the fast and private purchasing, selling and trading of all assets, tokens and currencies created within Apollo. We are in the process of also adding Bitcoin, Ethereum and many other well-known cryptocurrencies to this exchange. This will allow users the ability to buy and sell Apollo privately from any nation on Earth.
Next-Generation Blockchain Having utilized NXT technology as our base, we are developing Hermes to be it's replacement. Hermes will allow the Apollo blockchain to grow faster and healthier the larger the Apollo user base grows, rather than slower as with most cryptocurrencies on the market. Where as our current speed may be 20 to 30 seconds on average (transaction times will differ) Hermes will allow for transaction speeds of 2-3 seconds. Our goal in integrating Hermes is to become the safest, fastest and most private cryptocurrency on the market.
Alias System The alias system in Apollo can be used to create unique aliases that act as a representation for a specific set of text. This will encrypt the chosen text into the alias. This text could be your account number, a website, email address, etc. A specific alias can be claimed only once (like a domain name), therefore it can be sold privately or publicly and transferred to any other account. The most obvious use for an alias is in sending funds to an account number that is tied to that alias. Instead of typing out the entire account number you would simply write out the alias.
Multi-Sig/Phased Transactions Voting System Apollo supports multi-signature accounts allowing more than one user to control an account. It also supports phased transactions which are transactions set up to occur after a certain condition is met. This could be after another transaction is sent or received, after a passage of time or after a certain block number is hit.
The Apollo voting system allows users to create public or private polls for many purposes. Polls can be used to direct and manage funds from an account, elect officials or simply to gauge public opinion. This opens up near endless possibilities for collecting absolute, verified responses from designated sources.

Possible use cases: Contracts, Voting, Signatures, Account Management, Arbitration, etc.
Encrypted Messaging Encrypted messaging on the Apollo blockchain will allow any user to send and receive , untraceable messages and data files from one account to another. Utilizing the Olympus protocol, the user’s IP address and the transaction carrying the message will be invisible.

Possible use cases: Untraceable Communication, Untraceable File Transfer, etc.
Monetary System The monetary system within Apollo allows users to instantly create currencies that can be traded privately on Apollo’s decentralized exchange as well as freely on external exchanges. These currencies can be easily backed by Apollo giving them an instant, tangible value.
Possible use Cases: Finance, Charity, Voter IDs, Escrows, Coupons, Currencies, etc.
Decentralized Marketplace The Apollo decentralized marketplace will allow users to buy, sell and trade physical and digital goods using the Apollo currency. Users can list goods to be sold locally or even worldwide. Trading will be decentralized and untraceable allowing the free trade of any item. Future updates will include a review and reputation system aiding sellers in building a positive reputation based on experiences.
Cloud Storage The Apollo data cloud allows any user to upload data to the blockchain for storage, retrieval and publishing of information. This gives a user the ability to upload a file to the blockchain, therefore receiving an irrefutable timestamp for that data. This timestamp could be helpful in establishing an absolute date for legal documents such as contracts and intellectual ownership.

Possible use cases: Voting, Permits, Evidence, Court Records, Transparency, Death/Birth Certificates, Contracts, Wills, Trusts, Escrows, Maps, GPS Data, Signatures, Medical Records, Arbitration, Delivery Records, Certifications, etc.
Advanced Account Control Accounts can be created in a way that allows group control. Utilizing the Apollo voting system a group can be granted the ability (via initial ownership or ownership of a specified token or asset) to vote on the transactions that are spent on the account.

Possible use cases: Private Investment Fund, Private Insurance Fund, Charity Fund, Decentralized Autonomous Organizations (DAO)
Asset System Using the Apollo asset system, a user can issue, buy, sell and trade asset tokens intended to represent anything from public and private equity to real world commodities. Unlike other markets and cryptocurrencies, users will be able to trade these assets with 100% privacy.

Possible use cases: Assets, Commodities, Derivatives, etc.
Coin Shuffling Plugins Coin shuffling is an additional privacy feature allowing your Apollo, as well as other assets or currencies held in the account, to be simply and randomly shuffled between user accounts. This allows an account holder to anonymize their funds and transactions nearly instantly.
The Apollo system allows for integration of 3rd party software into the core wallet. This will allow unimaginable growth via community developed features.
Authentication System The Apollo authentication system allows a user to authenticate an account using the blockchain. This could be used to prove that a user is genuinely in control of a specific account.
Wallets Linux Wallet (coming) Windows Olympus Wallet OSX + Tor (coming) Web Wallet OSX Olympus Wallet Windows Olympus + Tor FUTURE Exchanges
APOLLO COIN INFORMATION
LAST SALE PRICE: $0.005 PER APOLLO APOLLO DETAILS Total Supply: 21 Billion Circulating: 15 Billion Consensus: Proof of Stake Inflation: 0% Features: 15 ​ ​ Whitepaper
Listed On: Notable Operations Team
VIKTOR KONOVALOV Director Grey LinkedIn Icon Viktor has turned ideas into reality for many companies starting with Brand Live, which was acquired by Microsoft, Green Battery LTD, and most recently investing and helping growth blockchain projects such as Kuna exchange, DMarket, Kickico, Anzyze, Hacken, Veda and Emotiq.
Sergey Rokhvarg CTO Grey LinkedIn Icon Sergey is a gifted software engineer that is using his extensive experience in advanced cryptography, military grade security and software architecture to advance development of Apollo.
Steve McCullah PR Director Grey LinkedIn Icon Utilizing his extensive knowledge in technology development Steve has served as CEO of McCullah Technologies and has had the opportunity to work with the U.S. Military, Homeland Security, celebrities as well as many major retailers.
KACPER GAZDA Chief Product Officer ​ ​ ​ Grey LinkedIn Icon Kacper is a leading software
engineer that has used his
experience and masters
in software engineering
to propel research and
development at Samsung
as well as his own software
company where he heads a
team of more than 60.
Alexander Mora Marketing Grey LinkedIn Icon Alexander has used his marketing and creative experience to work miracles for Disney, Verizon, ESPN Deportes, NASCAR, Sears, XM Radio, General Motors, and Jack Daniels while working with agencies that represented these clients. He is now using this magic to promote Apollo.
Katherine Manning Marketing Grey LinkedIn Icon Katherine has proven her marketing genius over and over while working at tech industry behemoths such as IBM, Microsoft and Red Hat. She is dedicated to using this same talent to taking the Apollo project to new heights.
Gennadiy Shevchenko Technical Account Manager Grey LinkedIn Icon Gennadiy has brought Apollo the same technical expertise he utilized for tech giant Microsoft, and companies such as K2 and Lizard Soft. He is now using that experience and talent to leverage Apollo as a top contender in cryptocurrency.
Kyle Hornback Management ​ ​ Kyle is a business professional that has worked as an executive at Skylark inc., as well as built and ran a highly successful services business. Kyle lends Apollo his superb ability to organize and manage teams effectively.
Alessandro Mazzi Legal ​ Grey LinkedIn Icon Alessandro is a legal advisor with extensive knowledge on blockchain and the legalities related to token sales. Alessandro has worked with leading international corporate law firms and institutions such as Minter Ellison, the HKIAC and Yingke Law Firm in the field of cross-border dispute resolution and commercial arbitration.
Sviatoslav Golda Systems Engineer ​ Grey LinkedIn Icon Sviatoslav is a dedicated professional with years of experience in information technology. Using knowledge acquired from his his jobs at NJSCS and Citibank, Sviatoslav will maintain systems crucial for the maintenance and development of Apollo.
Daniel Korogodski BUSINESS Development Grey LinkedIn Icon Daniel offers Apollo his extensive experience organizing and equipping teams for complex projects. During his time as acting CEO of First Bridge, Daniel has overseen as many as 50 professionals working on a multitude of projects in the technology sector.
Michael Troung Research Grey LinkedIn Icon Using his acute attention to detail, Michael has worked for fortune 500 companies overseeing research, development, engineering and logistics. He will use this experience to further Apollo's capabilities.
Other Notables
Rostyslav Golda Senior Engineer ​ Grey LinkedIn Icon
Denis Demut Senior PMO Grey LinkedIn Icon
Sasha Antropov Senior Engineer Grey LinkedIn Icon
Oleksiy Aristov Financial consultant
Ellina Kolisnichenko TECHNICAL Lead ​ ​ Grey LinkedIn Icon
Michael Lozinsky Senior Engineer ​
EXCHANGE LIST
Binance
Huobi
Kucoin
Bibox
Qryptos
Satoexchange
BIGone
Bitrue
Bilaxy
Bit-Z
Linkcoin
SECURE WALLET
Ledgerwallet
Trezor
submitted by icoinformation to Apollo_Currency [link] [comments]

How to ELI5 Ethereum & blockchain

I've wanted to write this post since a while, because I know quite some people who are invested in Ethereum or other blockchain projects and are unable to explain it in "easy" terms to people who have absolutely no idea what it is all about. To be clear: I'm not saying people on this sub don't understand it. But understanding it and being able to explain it are two vastly different things, and I think that being able to simply explain the technology makes a huge, huge difference in the long run, as much for yourself as for the other people.
First of all: don't mention the price until the end of your explanation. One of the biggest pitfalls is to start off by explaining how the price went up by 5000% in two months and then trying to give some kind of half-shaddy explanation of why it is completely justified that will just make you come over as some kind of Madoff-related family member.
Start from the roots: Bitcoin. Why was Bitcoin related? What "simple" issue did it solve? The transfer of money, over the internet, straight from person A to person B, without an intermediary, and without having to trust the other person. In real life, this is easy. When you hand over a 20$ bill to someone, he knows you actually have the money, and he knows you weren't able to spend it before. Over the internet, that was impossible. You had to pass through a bank or at least a trusted third party that would handle the transaction. So in 2009, Bitcoin was created. Bitcoin worked, in very simple terms, in the following way: whenever someone wants to send a transaction, it will be sent to all the other people on earth who are part of the Bitcoin platform. Every single person will verify in a big ledger, that holds the history of all the transactions ever made, if the person sending the money actually has it, and has the right to spend it. If the majority of people agree with the transaction, it will be accepted as valid and added to the book, to the end of the "chain" -- and that's where the term "blockchain" comes from. This way, it's actually even more secure than going through a bank, because to "hack" the system, someone would need to have control of more than 50% of the computers, and in the current Bitcoin platform, that is practically impossible. Now, there are two main issues: a) why couldn't someone just easily simulate being 51% of the computers in the world and fake transaction and b) why would people participate in this ledger book, why would they validate other peoples transactions? The two questions are actually linked. For b), that's the whole genius of the system. The algorithm will, randomly, choose a person from time to time that has helped validate the transactions, and that person will be rewarded in the form of Bitcoin. This gives an incentive to all people to validate the transactions, thus keeping the network secure. For a), the reason is that to validate transactions, you have to check in the big ledger history book if all is fine, but you also have to resolve a very complex mathematical problem, which will cost a lot of money in energy. You can't "fake" helping the network because it would cost you a lot of money in solving this problems. The whole Bitcoin protocol allows us to get rid of the intermediary, in this case the bank. You can now send money from A to B over the internet, without passing through intermediaries, paying huge fees over transactions, and being depended on your bank being open on Sundays, or wanting to close your account.
This is a very simple explanation of Bitcoin, and yes I know, it is much more complex than that. But it does the job in the first place. It's also interesting to explain that there is a fixed supply of Bitcoins that will ever be created, and thus that, as opposed to fiat money, you don't have inflation. On the contrary, you even have a kind of "deflation", so your bitcoins gain in value over time, because we know that there will only be a fixed amount ever, a bit like gold.
Now, it's time to explain what Ethereum is. Basically, Ethereum was created about a year and a half ago. In the Bitcoin protocol, you can only store transactions in this big distributed ledger. You can only say: I want to send money from A to B. Ethereum is based on the exact same idea of a distributed ledger, working with the exact same principles as Bitcoin, except that you can store programming code, "smart contracts" as they are called, in the distributed ledger. This opens a whole new realm of possibilities. The code that has been stored is immutable -- as is the whole history of transactions in Bitcoin. Nobody can come and change code afterwards without the consensus of the majority of the people on the platform. This is huge, because it allows for different applications: you can store code that will for instance store money that is sent to it, until certain conditions are met, and will then sent it to someone else. A very simple example is the Etheroll (DICE) platform. You go on the website, you choose a number between 1 and 100, and you wagger that a randomly selected number will be lower than the one you chose. You send the transaction to a smart contract, that you can review for yourself to make sure that it is fair (because you KNOW that it won't be changed in the middle of the process). The smart contract receives your money, locks it up, randomly generates a number (which you have both agreed on as a fair source), and if it's higher than the number you chose, the money is sent to the house, otherwise, the money and your gains are sent back to you. In this case, the intermediary that we got rid of is the casino. Are you starting to see a pattern? Imagine any market in the world where intermediaries operate, take margins, control the whole system. With the idea of blockchain, and especially with smart contracts, you can bypass these intermediaries, because both parties can agree on the code that has been stored and can't be changed anymore. Ethereum is the platform that will allow all kinds of applications to be built "on top of it". As I explained before, to keep the network secure and functioning, you need people participating in the verification of the transactions. You need a large number of people to make it secure. Before Ethereum, every new blockchain project had to create their own distributed ledger, and make sure that people had it on their computers and helped verify the transactions. With Ethereum, projects can be built on top of the existing distributed ledger, and thus enjoy the security of the Ethereum platform itself. This is what makes Ethereum huge: it's like a new internet, but for all kinds of applications. It's the underlying, solid, brick wall, that allows new houses to be built easily on top of it, without having to worry about the tough part of building the foundations, and more importantly, maintaining them.
So concretely, why can Ethereum and blockchain change the world? Well, imagine a world where you can have a service like AirBnb or Uber, without having a central company behind it taking huge chunks of the profit. Imagine if you can just treat directly from person to person, without always having to pass through intermediaries. The applications are endless: it's worth citing a few very powerful and interesting ones to further illustrate the point. Take Golem. Here is the idea behind Golem: imagine you have to compute a huge task on your computer. We are talking about tasks like rendering 3D movies, processes that can take a lot of time, for which you normally need specific, very expensive, very powerful computers. Currently, Pixar and Disney own those. When small, independent movie productions want to render such a movie, it will cost them a lot of money. Golem solves this issue in the following way: when you send a huge task, it is cut in thousands, hundreds of thousands of little tasks. Every single one of those small tasks is sent to a computer participating in the network. Every computer can compute such a little task very fast and easily -- you don't need a powerful computer to do it. Once a small task is completed, it it send back, and all the little pieces are put back together, and the final content is sent back to the original user. What are the advantages here? It is way, way cheaper, because you simply pay every person that helped solve a little task a little amount of money. It is faster, because all the tasks can be resolved at the same time and put back together. It allows people who will only need to compute huge tasks a couple of times to do it without having to buy expensive equipment specifically needed for it. These kinds of applications are completely new and weren't possible in such a way before. Blockchain makes things transparent: history is there for anyone to see and review, and people can't modify it. Censoring isn't an option. Decentralisation removes single points of failure and make applications more secure, often cheaper, faster, and more transparent.
Now, the price discussion. Obviously the price of such a technology is going up massively. Currently, there is about 30billion$ in the whole Ethereum network. That may seem like a lot, but you have to put it in context and imagine that companies like Apple are worth about 30 times that -- alone. You obviously can't compare Apple, but it's just to illustrate a point. If the technology becomes what it intends to become, and the applications built on top of it (dApps as they are called) become successful, 30 billion is next to nothing. But it's important not to forget that all of this is code, software, and that issues are possible at all moments. Hundreds of extremely talented developers are working on it, but anything could happen anytime, and all of it could come down crashing if some kind of unexpected issue rises up. But as time passes by, this becomes less likely by the day. Blockchain can revolutionise the world as we know it, as we are used to it. This is what most people actually don't understand -- how massively it can help in giving some kind of power back to the regular people, at the bottom of the chain. Transactions can happen straight from person to person, services exchanged straight from person to person, without the need of the people in between, who are often the people making the most money.
Ok, sorry for this extremely long post. Again, I repeat it: the goal was to give an explanation that I usually try to give when I'm asked about the technology and its importance. It is extremely, extremely, extremely simplified, and there probably even are a lot of factual mistakes in there -- feel free to point them out. The idea is just that I have realised that once people actually understand the power of the technology, even people who aren't very techy, they aren't that interested in the price anymore. When you understand that something can potentially change the world, the rest is less important. And if you can help even just one person realise it, it's a win for everyone!
submitted by bloemy7 to ethtrader [link] [comments]

[email protected]

[email protected]: [Discussion] Would you guys like an "AMA" post where I share some knowledge/info with you?
https://www.reddit.com/GlobalOffensiveTrade/comments/6znjz1/discussion_would_you_guys_like_an_ama_post_where/ I've been around for ~4 years and have cleared 6 figures trading. I'd be happy to help answer questions or offer advice, if it's wanted. I'm pretty much done trading items now, as I've gone balls deep into crypto. I started with ~$50 and got to where I am now. Along the way, I have learned how to make money in a large number of niches. If interested, I can share the whole story and answer questions "live". Lemme know!
Edit 1:
Fk it, let's do it live.
Go ahead and throw some questions at me and I'll respond as I can.
Edit 2:
My story
I started off small, compared to most. In fact, my pinned tweet is of my 1st sale - a single awp asiimov! Hah always makes me laugh to look back at that. Anyway, I build that first bit of money up to around $200 and got scammed... friend impersonator got me. Lost everything, back to $0. I bought back in with like $150 or so, and tried again. This time, I researched all the scam methods I could. I'd learned my lesson.
Moving on, I slowly built up that $150 to around $1 or 2k in about a year. I grinded hard. I lived on csgo lounge and live trade servers. I focused on vanilla, simple guns that were priced a little bit lower than normal. I looked for 1 - 2 k profit deals at first. That got me from the $150 to the ~$500 range. At this point, I knew I needed to make better use of my cash, so I started trading knives mainly. I became THE expert on m9 slaughters and made a killing on them. While it took months (maybe 6) to go $150 -> $500, I went from $500 to $1k in a fraction of the time. That's where I learned about patterned items. I could buy a knife off market or lounge or wherever and resell it for more by focusing on the diamond or the angels on it. My eyes were dollar signs.
Fast forward another year, I got the $5k range and cashed out completely. Along the way going from $1k to $5k, I became THE expert on Karambit Fades. I got to where I could find the exact difference between a true and a fake 90/10, which resulted in some massive profits at times. It took a solid year, but that was my transition to the $5k range.
At that point, I started focusing more on my family. Trading took a LOT of time away and I wanted to be with my family more. I cashed out everything and enjoyed the profits. I even went to Vegas and played in one of the smaller WSOP events (where I lost my ass haha). I didn't care, it was fun. I enjoyed a trip I'd never had been able to take and I got more time with my family.
After about 6 months to a year, an old contact reached out to me. Apparently, we had done a trade and I had made some sort of positive impression on him. He felt he could trust me. He knew I was out of the game, but he pulled me back in with a crazy offer. He was starting to buy from gambling sites directly and wanted me to help him move inventory. I would buy in at a very, very low % and resell for about 15 - 20% profit. The plan was to do this 3 times a week, for as long as we could. I was intrigued... and almost passed. But I scraped together $2k and did it.
The catch here was I could only buy using crypto currency, like Bitcoin. I had NO knowledge wtf this was about, so I was very hesistant. I'm not a risky person, but I saw the opportunity, so I went for it. I figured it out, and was a sort of "early adopter" for the Btc -> CSGO skins scene, because of this setup with my friend. Anyway, after about 2 or 3 months of this, I went from $2k to about $12k. I was blown away. But as is the case with most good things, it had to come to an end. Valve began banning gambling sites, and my money tree disappeared.
At this point, I wanted to see if I could keep things moving and grow the fund more. I was focused on making real money, for the gamily now, not little money for side trips. Been there, done that. I realized I needed to get into the "god tier" market and began communicating with the one and only ROFLM0NSTER . I owe him a lot, as he took me under his wing and helped me grow from the $12k range to where I ended up now.
Year 3 basically was me going from $12k to ~$25k trading Dlores, karambit sapphires, etc. I used csgo exchange to contact old owners of items, make them great offers, then sell to collectors for what I paid + some negotiated %. I met loads of guys I looked up to. I can't tell you how amazing it was to start casually talking to cAre, st4ck, Rofl, Ibuypower, idn, etc. THAT was worth way, way more than any $ I made honestly. Reminds me of that line from logic's song - "Funny how your idols can turn into your brethern".
Year 4, I kicked off with one of my biggest trades ever - the #1 Souvenir Dragin Lore FN. I bought for around $25k in items, and sold in HOURS for around $37.5k. That was unreal.
By the end of the year, I'd cleared the $100k mark. I cashed out a lot along the way and did a lot with it. That list includes:
  • Started a new business (haircuts!)
  • took fam to disney land
  • Spent $5k on a new pc rig
  • Took a trip to Niagra Falls
  • Put money for kids future education
After All that, I had maybe $10 or $20k left, which i chose to put into the crypto scene. I bought into a new currency called ETHEREUM around the $100 mark, and sold at the $350 mark. That single moment was the LARGEST profit I'd ever made, with the least amount of effort, ever! Doesn't always go that way, but this time it did. Since then, I've spent the majority of my free time focusing on crypto and forsee me continuing to do so going forward.
That's it! That's my story, time for Q&A
Edit 3:
Some of my tips for success:
  • 1. If you plan on being around a while, DONT BE A DICK.
I mean, it's really that simple. People want to trade with people they like. I can't tell you how many times I've overpaid just because I was dealing with someone I liked and trusted. And I know others did the same for me too.
  • 2. Remeber who helped you get where you are.
I'm a large donor with multiple sites, and it's not always because I'm "flexing" or whatever. It's because those guys helped me make money. Exchange and metjm especially - those sites were both game changers for me.
  • 3. Don't get caught up in the money.
I traded on the side, part time. I had a family in that time, finished college and a masters, worked full time, and started a side business. These things are all what make you well-rounded. Don't get focused on the $ so much that you miss what life is all about.
  • 4. Demand that you're compensated for your time.
As I mentioned before, I got to meet a lot of "celebrities" as I was coming up. But sometimes, a well known person will still make you bad offers or try to get you to do work for them for "free". There came a time when I had to put my foot down, and not help others unless I was being fairly compensated. For example, one big trader asked for my help obtaining something he could not get. The owner had blocked him and didn't want to deal with him. I got it for him, spending around $3k of my own money to get it. When it came time to trade with my collector, he got angry that I had spent $3k instead of the $2.9k that he wanted to spend (which was not possible). He was so upset, he refused to compensate me anything... for spending $100 more than he wanted... to obtain something important to him... when he was worth $200k or more easily... THAT is the person I never wanted to become.
  • 5. Don't gamble. Ever.
Just don't. https://redd.it/6znjz1
Comment link: /GlobalOffensiveTrade/comments/6znjz1/discussion_would_you_guys_like_an_ama_post_where/dmxncn5
  • SiiqGO: Were you ever worried that you may be making a bad decision in trading? Like doing something for someone else, trusting someone you maybe shouldn't have etc
  • JackBauerCSGO: Of course, I have been scammed for around $5k in total, from people I trusted who decided to scam-quit. But after I hit a certain level, I was able to never have to go 1st anymore. Also, I flat refused to use PP or any bank transaction ever. Crypto and only crypto.
  • SiiqGO: So why did you only go for Crypto? Is there a safer manner to doing it with that or?
  • causeWhyNotMate: cause why not, mate?
submitted by causeWhyNotMate to whyNotMate [link] [comments]

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