The big short for BITSTAMP:BTCUSD by Darcovicness

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For Trading May 5th

For Trading MAY 5th
Oil Starts Down But Ends Higher
FAANGS Rally
Today’s market got off to a lower start but after the first 15 minutes it was pretty clear that we were headed for a relatively quiet and short-range day. The range for the DJIA was a “mere” 400 points and the close was +26.07 (.11%) and just 20 off the high. The NASDAQ was where most of the action took place with rallies in AMZN, AAPL, NFLX and TSLA and a final +105.76 (1.23%). The S&P 500 was +12.03 (.42%) and the Russell +3.49 (.28%) and the DJ Transports was the big loser -163.90 (2.01%). Market internals were mixed with the NYSE 15:13 down while NAZ was 17:15 Up. Volume was on the light side. The DJIA was 17 down and 13 higher. There were no major gainers or losers.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s very informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!
Tonight’s closing comment video https://youtu.be/bObD610XIiE
SECTORS: Earnings played a part in today’s market. J Crew and HTZ are talking about bankruptcy, but neither traded in after hours. SBUX didn’t actually report but did say that they were opening 98% of their China shops and those in the U.S. as soon as possible. After closing $71.89 -1.90 it moved slightly higher to 73.60 1.71. AIG reported but the stock did nothing while Shake Shack: SHAK missed on revenues but beat on earnings and after closing $52.77 +1.07 moved slightly higher to $55.42 it finished $53.50 + just .73. The last name on the list was the biggest winner, Chegg: CHGG closed $43.79 +1.43 (3.38%) beat on both top and bottom lines and gave great guidance. It ran to $51.37 and closed there +6.95 (15.81%).
FOOD SUPPLY: was LOWER with TSN -4.18 (6.97%), BGS +.32, FLO -.32, CAG +.14, MDLZ -.84, KHC -.58, CALM +1.06, JJSF -1.97, SAFM -.95 and LANC -.08.
BIOPHARMA: was HIGHER with BIIB +3.43, ABBV -.98, REGN +16.60, ISRG +3.13, GILD -.15, MYL +.39, TEVA -.32, VRTX +9.79, BHC -.39, INCY +3.69, ICPT +1.64, LABU +5.03 (14.84%) and IBB $124.30 +3.40 (2.81%).
CANNABIS: This group was HIGHER with TLRY +.40, CGC +.56, CRON +.18, GWPH +4.88, ACB +.001, PYX +1.28 (51.61%), NBEV +.05, CURLF -.02, KERN -.08 and MJ $11.95 +.40 (3.46%).
DEFENSE: was LOWER with LMT -3.47, GD -3.30, TXT -.58, NOC -6.05, BWXT -.65, TRX -1,86, and ITA $147.44 -2.97 (1.97%).
RETAIL was MIXED with M -.07, JWN +2.38, KSS -.15, DDS -.41, JCP +.002, WMT +.88, TGT +3.22, TJX -.55, RL -1.22, UAA +.18, LULU -.03, TPR -.56, CPRI +.11 and XRT $35.85 +.19 (.53%).
FAANG and Big Cap: were HIGHER with GOOGL +4.70, AMZN +21.91, AAPL +4.59, FB +2.93, NFLX +13.10, NVDA +8.57, TSLA +67.68, BABA -2.28, BIDU -1.42, CMG -1.05, BA -2.02, CAT -3.42, DIS -3.42 and XLK $90.09 +1.18 (1.33%).
FINANCIALS were LOWER with GS -1.07, JPM -.75, BAC -.13, MS -.30, C -.33, PNC -1.95, AIG -.01, TRV +1.32, AXP -1.56, V +1.12, and XLF $21.86 -.20 (.91%).
OIL, $20.39 + .61. Oil was lower overnight (18.80) but rallied and moved higher (21.42) before closing higher. Tonight, it is higher again trading $21.59 +1.20. The stocks were higher$37.09 +1.24 (3.46%).r with the market. XLE closed $38.00 -.86 (2.21%).
METALS, GOLD: $1,713.30 +12.40. After the recent gains, Gold broke solidly above $1,700 and traded as high as $1788 last Wednesday. I said I wanted to get long the GLD if we can probe the $1710 range, and when it traded $17.04 yesterday, I was a buyer. Our calls fell back to .75. We are also long NEM.
BITCOIN: closed $8935 +95. After we traded in the uptrend, I mentioned this weekend that I felt we would have to test 6750 and yesterday we hit 6465 before turning back up. Today’s action was a continuing move higher with a high of 9560. While I want to add the 350, I still want to wait and see some stabilization. We still own 400 GBTC with an average of $8.06. GBTC closed $9.98 +.51 today.
Tomorrow is another day.
CAM
submitted by Dashover to OptionsOnly [link] [comments]

For Trading May 5th

Oil Starts Down But Ends Higher
FAANGS Rally
Today’s market got off to a lower start but after the first 15 minutes it was pretty clear that we were headed for a relatively quiet and short-range day. The range for the DJIA was a “mere” 400 points and the close was +26.07 (.11%) and just 20 off the high. The NASDAQ was where most of the action took place with rallies in AMZN, AAPL, NFLX and TSLA and a final +105.76 (1.23%). The S&P 500 was +12.03 (.42%) and the Russell +3.49 (.28%) and the DJ Transports was the big loser -163.90 (2.01%). Market internals were mixed with the NYSE 15:13 down while NAZ was 17:15 Up. Volume was on the light side. The DJIA was 17 down and 13 higher. There were no major gainers or losers.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s very informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!
Tonight’s closing comment video https://youtu.be/bObD610XIiE
SECTORS: Earnings played a part in today’s market. J Crew and HTZ are talking about bankruptcy, but neither traded in after hours. SBUX didn’t actually report but did say that they were opening 98% of their China shops and those in the U.S. as soon as possible. After closing $71.89 -1.90 it moved slightly higher to 73.60 1.71. AIG reported but the stock did nothing while Shake Shack: SHAK missed on revenues but beat on earnings and after closing $52.77 +1.07 moved slightly higher to $55.42 it finished $53.50 + just .73. The last name on the list was the biggest winner, Chegg: CHGG closed $43.79 +1.43 (3.38%) beat on both top and bottom lines and gave great guidance. It ran to $51.37 and closed there +6.95 (15.81%).
FOOD SUPPLY: was LOWER with TSN -4.18 (6.97%), BGS +.32, FLO -.32, CAG +.14, MDLZ -.84, KHC -.58, CALM +1.06, JJSF -1.97, SAFM -.95 and LANC -.08.
BIOPHARMA: was HIGHER with BIIB +3.43, ABBV -.98, REGN +16.60, ISRG +3.13, GILD -.15, MYL +.39, TEVA -.32, VRTX +9.79, BHC -.39, INCY +3.69, ICPT +1.64, LABU +5.03 (14.84%) and IBB $124.30 +3.40 (2.81%).
CANNABIS: This group was HIGHER with TLRY +.40, CGC +.56, CRON +.18, GWPH +4.88, ACB +.001, PYX +1.28 (51.61%), NBEV +.05, CURLF -.02, KERN -.08 and MJ $11.95 +.40 (3.46%).
DEFENSE: was LOWER with LMT -3.47, GD -3.30, TXT -.58, NOC -6.05, BWXT -.65, TRX -1,86, and ITA $147.44 -2.97 (1.97%).
RETAIL was MIXED with M -.07, JWN +2.38, KSS -.15, DDS -.41, JCP +.002, WMT +.88, TGT +3.22, TJX -.55, RL -1.22, UAA +.18, LULU -.03, TPR -.56, CPRI +.11 and XRT $35.85 +.19 (.53%).
FAANG and Big Cap: were HIGHER with GOOGL +4.70, AMZN +21.91, AAPL +4.59, FB +2.93, NFLX +13.10, NVDA +8.57, TSLA +67.68, BABA -2.28, BIDU -1.42, CMG -1.05, BA -2.02, CAT -3.42, DIS -3.42 and XLK $90.09 +1.18 (1.33%).
FINANCIALS were LOWER with GS -1.07, JPM -.75, BAC -.13, MS -.30, C -.33, PNC -1.95, AIG -.01, TRV +1.32, AXP -1.56, V +1.12, and XLF $21.86 -.20 (.91%).
OIL, $20.39 + .61. Oil was lower overnight (18.80) but rallied and moved higher (21.42) before closing higher. Tonight, it is higher again trading $21.59 +1.20. The stocks were higher$37.09 +1.24 (3.46%).r with the market. XLE closed $38.00 -.86 (2.21%).
METALS, GOLD: $1,713.30 +12.40. After the recent gains, Gold broke solidly above $1,700 and traded as high as $1788 last Wednesday. I said I wanted to get long the GLD if we can probe the $1710 range, and when it traded $17.04 yesterday, I was a buyer. Our calls fell back to .75. We are also long NEM.
BITCOIN: closed $8935 +95. After we traded in the uptrend, I mentioned this weekend that I felt we would have to test 6750 and yesterday we hit 6465 before turning back up. Today’s action was a continuing move higher with a high of 9560. While I want to add the 350, I still want to wait and see some stabilization. We still own 400 GBTC with an average of $8.06. GBTC closed $9.98 +.51 today.
Tomorrow is another day.
CAM
submitted by Dashover to pennystocks [link] [comments]

For Trading May 5th

For Trading MAY 5th
Oil Starts Down But Ends Higher
FAANGS Rally
Today’s market got off to a lower start but after the first 15 minutes it was pretty clear that we were headed for a relatively quiet and short-range day. The range for the DJIA was a “mere” 400 points and the close was +26.07 (.11%) and just 20 off the high. The NASDAQ was where most of the action took place with rallies in AMZN, AAPL, NFLX and TSLA and a final +105.76 (1.23%). The S&P 500 was +12.03 (.42%) and the Russell +3.49 (.28%) and the DJ Transports was the big loser -163.90 (2.01%). Market internals were mixed with the NYSE 15:13 down while NAZ was 17:15 Up. Volume was on the light side. The DJIA was 17 down and 13 higher. There were no major gainers or losers.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s very informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!
Tonight’s closing comment video https://youtu.be/bObD610XIiE
SECTORS: Earnings played a part in today’s market. J Crew and HTZ are talking about bankruptcy, but neither traded in after hours. SBUX didn’t actually report but did say that they were opening 98% of their China shops and those in the U.S. as soon as possible. After closing $71.89 -1.90 it moved slightly higher to 73.60 1.71. AIG reported but the stock did nothing while Shake Shack: SHAK missed on revenues but beat on earnings and after closing $52.77 +1.07 moved slightly higher to $55.42 it finished $53.50 + just .73. The last name on the list was the biggest winner, Chegg: CHGG closed $43.79 +1.43 (3.38%) beat on both top and bottom lines and gave great guidance. It ran to $51.37 and closed there +6.95 (15.81%).
FOOD SUPPLY: was LOWER with TSN -4.18 (6.97%), BGS +.32, FLO -.32, CAG +.14, MDLZ -.84, KHC -.58, CALM +1.06, JJSF -1.97, SAFM -.95 and LANC -.08.
BIOPHARMA: was HIGHER with BIIB +3.43, ABBV -.98, REGN +16.60, ISRG +3.13, GILD -.15, MYL +.39, TEVA -.32, VRTX +9.79, BHC -.39, INCY +3.69, ICPT +1.64, LABU +5.03 (14.84%) and IBB $124.30 +3.40 (2.81%).
CANNABIS: This group was HIGHER with TLRY +.40, CGC +.56, CRON +.18, GWPH +4.88, ACB +.001, PYX +1.28 (51.61%), NBEV +.05, CURLF -.02, KERN -.08 and MJ $11.95 +.40 (3.46%).
DEFENSE: was LOWER with LMT -3.47, GD -3.30, TXT -.58, NOC -6.05, BWXT -.65, TRX -1,86, and ITA $147.44 -2.97 (1.97%).
RETAIL was MIXED with M -.07, JWN +2.38, KSS -.15, DDS -.41, JCP +.002, WMT +.88, TGT +3.22, TJX -.55, RL -1.22, UAA +.18, LULU -.03, TPR -.56, CPRI +.11 and XRT $35.85 +.19 (.53%).
FAANG and Big Cap: were HIGHER with GOOGL +4.70, AMZN +21.91, AAPL +4.59, FB +2.93, NFLX +13.10, NVDA +8.57, TSLA +67.68, BABA -2.28, BIDU -1.42, CMG -1.05, BA -2.02, CAT -3.42, DIS -3.42 and XLK $90.09 +1.18 (1.33%).
FINANCIALS were LOWER with GS -1.07, JPM -.75, BAC -.13, MS -.30, C -.33, PNC -1.95, AIG -.01, TRV +1.32, AXP -1.56, V +1.12, and XLF $21.86 -.20 (.91%).
OIL, $20.39 + .61. Oil was lower overnight (18.80) but rallied and moved higher (21.42) before closing higher. Tonight, it is higher again trading $21.59 +1.20. The stocks were higher$37.09 +1.24 (3.46%).r with the market. XLE closed $38.00 -.86 (2.21%).
METALS, GOLD: $1,713.30 +12.40. After the recent gains, Gold broke solidly above $1,700 and traded as high as $1788 last Wednesday. I said I wanted to get long the GLD if we can probe the $1710 range, and when it traded $17.04 yesterday, I was a buyer. Our calls fell back to .75. We are also long NEM.
BITCOIN: closed $8935 +95. After we traded in the uptrend, I mentioned this weekend that I felt we would have to test 6750 and yesterday we hit 6465 before turning back up. Today’s action was a continuing move higher with a high of 9560. While I want to add the 350, I still want to wait and see some stabilization. We still own 400 GBTC with an average of $8.06. GBTC closed $9.98 +.51 today.
Tomorrow is another day.
CAM
submitted by Dashover to FuturesTrading [link] [comments]

For Trading May 5th

Oil Starts Down But Ends Higher
FAANGS Rally
Today’s market got off to a lower start but after the first 15 minutes it was pretty clear that we were headed for a relatively quiet and short-range day. The range for the DJIA was a “mere” 400 points and the close was +26.07 (.11%) and just 20 off the high. The NASDAQ was where most of the action took place with rallies in AMZN, AAPL, NFLX and TSLA and a final +105.76 (1.23%). The S&P 500 was +12.03 (.42%) and the Russell +3.49 (.28%) and the DJ Transports was the big loser -163.90 (2.01%). Market internals were mixed with the NYSE 15:13 down while NAZ was 17:15 Up. Volume was on the light side. The DJIA was 17 down and 13 higher. There were no major gainers or losers.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s very informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!
Tonight’s closing comment video https://youtu.be/bObD610XIiE
SECTORS: Earnings played a part in today’s market. J Crew and HTZ are talking about bankruptcy, but neither traded in after hours. SBUX didn’t actually report but did say that they were opening 98% of their China shops and those in the U.S. as soon as possible. After closing $71.89 -1.90 it moved slightly higher to 73.60 1.71. AIG reported but the stock did nothing while Shake Shack: SHAK missed on revenues but beat on earnings and after closing $52.77 +1.07 moved slightly higher to $55.42 it finished $53.50 + just .73. The last name on the list was the biggest winner, Chegg: CHGG closed $43.79 +1.43 (3.38%) beat on both top and bottom lines and gave great guidance. It ran to $51.37 and closed there +6.95 (15.81%).
FOOD SUPPLY: was LOWER with TSN -4.18 (6.97%), BGS +.32, FLO -.32, CAG +.14, MDLZ -.84, KHC -.58, CALM +1.06, JJSF -1.97, SAFM -.95 and LANC -.08.
BIOPHARMA: was HIGHER with BIIB +3.43, ABBV -.98, REGN +16.60, ISRG +3.13, GILD -.15, MYL +.39, TEVA -.32, VRTX +9.79, BHC -.39, INCY +3.69, ICPT +1.64, LABU +5.03 (14.84%) and IBB $124.30 +3.40 (2.81%).
CANNABIS: This group was HIGHER with TLRY +.40, CGC +.56, CRON +.18, GWPH +4.88, ACB +.001, PYX +1.28 (51.61%), NBEV +.05, CURLF -.02, KERN -.08 and MJ $11.95 +.40 (3.46%).
DEFENSE: was LOWER with LMT -3.47, GD -3.30, TXT -.58, NOC -6.05, BWXT -.65, TRX -1,86, and ITA $147.44 -2.97 (1.97%).
RETAIL was MIXED with M -.07, JWN +2.38, KSS -.15, DDS -.41, JCP +.002, WMT +.88, TGT +3.22, TJX -.55, RL -1.22, UAA +.18, LULU -.03, TPR -.56, CPRI +.11 and XRT $35.85 +.19 (.53%).
FAANG and Big Cap: were HIGHER with GOOGL +4.70, AMZN +21.91, AAPL +4.59, FB +2.93, NFLX +13.10, NVDA +8.57, TSLA +67.68, BABA -2.28, BIDU -1.42, CMG -1.05, BA -2.02, CAT -3.42, DIS -3.42 and XLK $90.09 +1.18 (1.33%).
FINANCIALS were LOWER with GS -1.07, JPM -.75, BAC -.13, MS -.30, C -.33, PNC -1.95, AIG -.01, TRV +1.32, AXP -1.56, V +1.12, and XLF $21.86 -.20 (.91%).
OIL, $20.39 + .61. Oil was lower overnight (18.80) but rallied and moved higher (21.42) before closing higher. Tonight, it is higher again trading $21.59 +1.20. The stocks were higher$37.09 +1.24 (3.46%).r with the market. XLE closed $38.00 -.86 (2.21%).
METALS, GOLD: $1,713.30 +12.40. After the recent gains, Gold broke solidly above $1,700 and traded as high as $1788 last Wednesday. I said I wanted to get long the GLD if we can probe the $1710 range, and when it traded $17.04 yesterday, I was a buyer. Our calls fell back to .75. We are also long NEM.
BITCOIN: closed $8935 +95. After we traded in the uptrend, I mentioned this weekend that I felt we would have to test 6750 and yesterday we hit 6465 before turning back up. Today’s action was a continuing move higher with a high of 9560. While I want to add the 350, I still want to wait and see some stabilization. We still own 400 GBTC with an average of $8.06. GBTC closed $9.98 +.51 today.
Tomorrow is another day.
CAM
submitted by Dashover to options [link] [comments]

HUOBI EXCHANGE REVIEW

ABOUT HUOBI :
Huobi is a cryptocurrency exchange founded in China in 2013. Currently, Huobi is based in Singapore because this country has friendlier cryptocurrency regulations. The company is registered in Seychelles. Before leaving China due to a cryptocurrency ban, the exchange was responsible for 90% of Bitcoin trading volume in this country. Now Huobi is an international platform with offices located in Singapore, Hong Kong, the United States, Japan, and Korea. In China, the company provides blockchain consulting services. Huobi has sub-exchanges: Huobi Korea, Huobi US, etc. Huobi Global is the biggest Huobi exchange. In November 2019 Huobi Global had to shut down all the accounts belonging to the US customers due to strict cryptocurrency regulations of the USA. This exchange is one of the top 50 cryptocurrency exchanges by trade volume. On the Coingecko chart of exchanges, Huobi Global occupies the third position. The exchange has more than 500 markets and supports over 220 cryptocurrencies. As Huobi provides an option to buy cryptocurrency with fiat money, this exchange is a gateway for people who enter the cryptocurrency world .

FEATURES :
Huobi Global has a really wide range of functions. First off, this exchange provides an opportunity to buy cryptocurrencies with fiat money using a credit card and other payment means. This option is delivered in the over-the-counter trading section (OTC). There is a menu line in the upper part of the website. It begins with "But Crypto". That's where one can see the OTC offerings provided by Huobi. One can buy or sell the following currencies: Bitcoin (BTC), Ether (ETH), Tether (USDT), EOS, XRP, Litecoin (LTC), Huobi Token (HT), Huobi stablecoin (HUSD), and Bitcoin Cash (BCH). Please note, that there are not so many offerings especially for certain currencies. Normally there are many options for buying BTC or USDT. The prices and payment methods vary from one trader to another. You can pay with a credit card, some traders accept payments via Western Union, AliPay, and other services.
There is a cryptocurrency exchange with hundreds of crypto-to-crypto pairs. The exchange supports market, limit and stop-limit orders. It gives traders some control over the situation and helps to secure the assets from trading in loss to some extent. In general, the exchange interface of Huobi is quite generic.
Those who have experience of trading on several other exchanges will find the interface familiar. It has a trading view with a candlestick chart on the left and the list of orders updating in real-time on the right. Under the charts, there is an order history. Under the list of market trades, there is a section where users can place orders. The candlestick chart is powered with numerous analysis tools and indicators.
What makes Huobi Global more attractive for traders is the support of margin trading. In all margin trading pairs the currencies are traded against Tether (USDT). There are 6 cryptocurrencies that can be traded with x3 leverage: Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), XRP, Ether (ETH), and EOS.
Huobi Global is aimed to provide service both to small investors and institutional traders. That's the reason why the platform offers institutional accounts with special opportunities for corporate customers. Among these features, there are colocation options and other tools that provide the opportunity of seamless high-frequency trading. Additionally, institutional accounts can get special OTC loans.
One more feature is trading derivatives. Huobi provides two separate interfaces for that purpose: Swap trading and Futures trading platforms on Huobi DM. Moreover, it is possible to participate in IEO trading via the Huobi exchange. This feature requires the use of the Huobi Token.

ASSETS AND INSTRUMENTS:
As mentioned, there are two types of instruments that you can trade on the Huobi derivatives platform. These are your traditional futures as well as the perpetual swaps or futures.
With these instruments, you are trading crypto on margin. This means that they are leveraged and your exposure is often many multiples of the amount that you have put down as collateral.
Now that we have a brief understanding of leverage, let’s take a look at the instruments on offer at the Huobi exchange.
Futures are instruments that allow the holder to buy or sell some asset in the future. Essentially, you are trading some future price of the instrument on the chose delivery date. In terms of expiry dates, they have weekly, bi-weekly and Quarterly which settle every Friday. In terms of expiry dates, they have weekly, bi-weekly and Quarterly which settle every Friday. When it comes to the specifics of the contract, they differ according to which asset is being traded. You should also take a look into the contract specifics in the Huobi docs. This includes such information as the index reference for the prices as well as your last trading price. The latter can only be done up till 10 minutes before the expiry.
Perpetual swaps are leveraged instruments that do not have have a delivery date. They are marked to market everyday and settle 3 times a day. They are sometimes also called “perpetual futures” at other exchanges.
The reason that they are called “Swaps” at Huobi Derivatives is because you are swapping the returns of one asset for the returns of another. Here, you are swapping crypto returns for returns on the US dollar.
At Huobi DM, the Perpetual swaps have leverage up to 125x and they are written on 5 different assets. These are Bitcoin and Ethereum with other coins to be added soon.

HUOBI APPS:
Huobi mobile app for iOS and Android are available. Similarly, the Huobi mobile app features most of the functionalities available on the web platform also. You can even complete tasks like account registration and verification directly via the app. In Google Play, the Huobi Global app has an average rating of 4.1 stars out of 3,730 reviews. However, in December 2018 and January 2019, some users have said that the Android app won’t let them login due to an error with Captcha. On the Apple App Store, Huobi boasts an average rating of 4.9 stars out of over 4,800 reviews.

API :
For those of you who are programmers, you will be happy to learn that Huobi global API can be used on the Futures and Swap markets.
There is both a websocket as well as a REST version available. It is suggested that you use the REST for one off operation to trade and withdraw. You should use the websocket for market data & order updates. You should also note that you can be a market maker on through the API.
If you want to start using the API then you will to get yourself an API key. This can easily be done in the API management of your account dashboard. Here you can select whether you would like it to be a read-only, Withdraw or Trade. You can also bind an IP address to this API so you can ensure than no other person will use your account even if compromised.

HUOBI FEES :
Huobi has a 0.2 % fee that applies to both market makers and takers for amounts between $0 and $5,000,000 over the course of a 30-day period. In comparison, other top exchanges like Binance have 0.1 percent fees. Actually, it has a fair trading fees structure and easy to remember also. Meanwhile, GDAX has 0.3 percent fees.
In January 2019, Huobi Global launched a tiered fee structure that significantly reduces fees for higher-volume traders. This is relatively competitive when compared to other exchanges. Users also have the option to reduce trading fees on Huobi by becoming a VIP member. This involves paying a monthly payment of HT, which varies depending on the membership level (1-5).
Like most exchanges, Huobi has no fees on deposits. However, Huobi does have withdrawal fees minimums that vary from coin-to-coin. For example, withdrawing Bitcoin (BTC) costs 0.001 BTC, with a minimum withdrawal amount of 0.01 BTC. For Tether (USDT), the flat fee is 5 USDT. And the minimum withdrawal amount is 20 USDT. Overall, the meaning- Huobi fees are generally higher than most exchanges for lower withdrawal amounts. A few exceptions exist. For example, TUSD has a withdrawal minimum of $20 but a withdrawal fee of only $2.

IS IT TRUSTWORTHY?
In contrast to other exchanges, Huobi receives a favorable score. First of all, it is incorporated and operated from Singapore. As we all know crypto regulations are advanced there. And promote blockchain startups always. Second, Huobi does provide users with multiple ways to safeguard their accounts. Although it is not enough. Essentially, 2-factor authentication is available using both SMS and authenticator apps. The platform does not require any special confirmation if the account is logged into from an unfamiliar IP address or location. There is no option to whitelist addresses for asset withdrawal, allowing funds to be sent to any address input. Furthermore, Huobi was never hacked. Even though they do present a lucrative target for attackers. Meaning, Huobi has adopted a decentralized exchange structure, which helps to resist DDOS attacks. And we believe the exchange takes these threats seriously and does everything in their power to protect the exchange from hackers. Also, Huobi does store user funds in cold storage to restrict access to them. Actually, the exchange stores around 98 percent of funds in cold wallets.

SUPPORT :
Something else that is crucial to the entire trading experience is the level of support that the exchange provides. There is nothing more frustrating than having to wait hours for response from support.
When it comes to Huobi, there are actually quite a few options to reach their customer support. Perhaps the quickest and most effective way is through their live chat function. Firstly, they will try to help you with the available resources. If that does not work then you can reach out to a live agent.

CONCLUSION:
So, in summary. We really liked the Huobi futures products. It is not only highly functional but is also secure and leverags the expertise that the team have at the main Huobi exchange.
For the futures instruments, there is a decent range of assets and leverage. Markets are also pretty liquid and these are all traded on a simplistic yet technically able trading platform. It’s also great that you can trade on PC programs and mobile apps as well.
When it comes to security, they have taken all of the same precautions that are used on the main exchange. Their 20,000 BTC strong insurance fund keeps them well protected and they have not had a single clawback of trader funds since their inception.
Yes, there are areas for improvement but the exchanges is still evolving and building out functionality. One can only hope that they take trader suggestions into account.
So then, is it worth considering?
Well, if you are looking for a highly functional and secure futures exchange that is backed by one of the biggest names in the business, then it is well worth a try.

Huobi Website: https://www.huobi.com/en-us/topic/invited/?invite_code=czdh5
UID: 138138177
Huobi Indian Community: https://t.me/huobiglobalindia
Huobi Global Community: https://t.me/huobiglobalofficial
submitted by sreenthepotato to u/sreenthepotato [link] [comments]

Beginner’s Guide to BitMEX

Beginner’s Guide to BitMEX

https://preview.redd.it/fl5e0q7i3cc41.jpg?width=1024&format=pjpg&auto=webp&s=445485d722839a9adc1ae13db4c965b0ae3e67b7
Founded by HDR Global Trading Limited (which in turn was founded by former bankers Arthur Hayes, Samuel Reed and Ben Delo) in 2014, BitMEX is a trading platform operating around the world and registered in the Seychelles.
Meaning Bitcoin Mercantile Exchange, BitMEX is one of the largest Bitcoin trading platforms currently operating, with a daily trading volume of over 35,000 BTC and over 540,000 accesses monthly and a trading history of over $34 billion worth of Bitcoin since its inception.

https://preview.redd.it/coenpm4k3cc41.jpg?width=808&format=pjpg&auto=webp&s=8832dcafa5bd615b511bbeb6118ef43d73ed785e
Unlike many other trading exchanges, BitMEX only accepts deposits through Bitcoin, which can then be used to purchase a variety of other cryptocurrencies. BitMEX specialises in sophisticated financial operations such as margin trading, which is trading with leverage. Like many of the exchanges that operate through cryptocurrencies, BitMEX is currently unregulated in any jurisdiction.
Visit BitMEX

How to Sign Up to BitMEX

In order to create an account on BitMEX, users first have to register with the website. Registration only requires an email address, the email address must be a genuine address as users will receive an email to confirm registration in order to verify the account. Once users are registered, there are no trading limits. Traders must be at least 18 years of age to sign up.
https://preview.redd.it/0v13qoil3cc41.jpg?width=808&format=pjpg&auto=webp&s=e6134bc089c4e352dce10d754dc84ff11a4c7994
However, it should be noted that BitMEX does not accept any US-based traders and will use IP checks to verify that users are not in the US. While some US users have bypassed this with the use of a VPN, it is not recommended that US individuals sign up to the BitMEX service, especially given the fact that alternative exchanges are available to service US customers that function within the US legal framework.
How to Use BitMEX
BitMEX allows users to trade cryptocurrencies against a number of fiat currencies, namely the US Dollar, the Japanese Yen and the Chinese Yuan. BitMEX allows users to trade a number of different cryptocurrencies, namely Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero, Ripple, Tezos and Zcash.
The trading platform on BitMEX is very intuitive and easy to use for those familiar with similar markets. However, it is not for the beginner. The interface does look a little dated when compared to newer exchanges like Binance and Kucoin’s.
Once users have signed up to the platform, they should click on Trade, and all the trading instruments will be displayed beneath.
Clicking on the particular instrument opens the orderbook, recent trades, and the order slip on the left. The order book shows three columns – the bid value for the underlying asset, the quantity of the order, and the total USD value of all orders, both short and long.
The widgets on the trading platform can be changed according to the user’s viewing preferences, allowing users to have full control on what is displayed. It also has a built in feature that provides for TradingView charting. This offers a wide range of charting tool and is considered to be an improvement on many of the offering available from many of its competitors.
https://preview.redd.it/fabg1nxo3cc41.jpg?width=808&format=pjpg&auto=webp&s=6d939889c3eac15ab1e78ec37a8ccd13fc5e0573
Once trades are made, all orders can be easily viewed in the trading platform interface. There are tabs where users can select their Active Orders, see the Stops that are in place, check the Orders Filled (total or partially) and the trade history. On the Active Orders and Stops tabs, traders can cancel any order, by clicking the “Cancel” button. Users also see all currently open positions, with an analysis if it is in the black or red.
BitMEX uses a method called auto-deleveraging which BitMEX uses to ensure that liquidated positions are able to be closed even in a volatile market. Auto-deleveraging means that if a position bankrupts without available liquidity, the positive side of the position deleverages, in order of profitability and leverage, the highest leveraged position first in queue. Traders are always shown where they sit in the auto-deleveraging queue, if such is needed.
Although the BitMEX platform is optimized for mobile, it only has an Android app (which is not official). There is no iOS app available at present. However, it is recommended that users use it on the desktop if possible.
BitMEX offers a variety of order types for users:
  • Limit Order (the order is fulfilled if the given price is achieved);
  • Market Order (the order is executed at current market price);
  • Stop Limit Order (like a stop order, but allows users to set the price of the Order once the Stop Price is triggered);
  • Stop Market Order (this is a stop order that does not enter the order book, remain unseen until the market reaches the trigger);
  • Trailing Stop Order (it is similar to a Stop Market order, but here users set a trailing value that is used to place the market order);
  • Take Profit Limit Order (this can be used, similarly to a Stop Order, to set a target price on a position. In this case, it is in respect of making gains, rather than cutting losses);
  • Take Profit Market Order (same as the previous type, but in this case, the order triggered will be a market order, and not a limit one)
The exchange offers margin trading in all of the cryptocurrencies displayed on the website. It also offers to trade with futures and derivatives – swaps.

Futures and Swaps

A futures contract is an agreement to buy or sell a given asset in the future at a predetermined price. On BitMEX, users can leverage up to 100x on certain contracts.
Perpetual swaps are similar to futures, except that there is no expiry date for them and no settlement. Additionally, they trade close to the underlying reference Index Price, unlike futures, which may diverge substantially from the Index Price.
BitMEX also offers Binary series contracts, which are prediction-based contracts which can only settle at either 0 or 100. In essence, the Binary series contracts are a more complicated way of making a bet on a given event.
The only Binary series betting instrument currently available is related to the next 1mb block on the Bitcoin blockchain. Binary series contracts are traded with no leverage, a 0% maker fee, a 0.25% taker fee and 0.25% settlement fee.

Bitmex Leverage

BitMEX allows its traders to leverage their position on the platform. Leverage is the ability to place orders that are bigger than the users’ existing balance. This could lead to a higher profit in comparison when placing an order with only the wallet balance. Trading in such conditions is called “Margin Trading.”
There are two types of Margin Trading: Isolated and Cross-Margin. The former allows the user to select the amount of money in their wallet that should be used to hold their position after an order is placed. However, the latter provides that all of the money in the users’ wallet can be used to hold their position, and therefore should be treated with extreme caution.
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The BitMEX platform allows users to set their leverage level by using the leverage slider. A maximum leverage of 1:100 is available (on Bitcoin and Bitcoin Cash). This is quite a high level of leverage for cryptocurrencies, with the average offered by other exchanges rarely exceeding 1:20.

BitMEX Fees

For traditional futures trading, BitMEX has a straightforward fee schedule. As noted, in terms of leverage offered, BitMEX offers up to 100% leverage, with the amount off leverage varying from product to product.
However, it should be noted that trading at the highest leverages is sophisticated and is intended for professional investors that are familiar with speculative trading. The fees and leverage are as follows:
https://preview.redd.it/wvhiepht3cc41.jpg?width=730&format=pjpg&auto=webp&s=0617eb894c13d3870211a01d51af98561907cb99

https://preview.redd.it/qhi8izcu3cc41.jpg?width=730&format=pjpg&auto=webp&s=09da4efe1de4214b0b5b9c7501aba5320e846b4c
However, there are additional fees for hidden / iceberg orders. A hidden order pays the taker fee until the entire hidden quantity is completely executed. Then, the order will become normal, and the user will receive the maker rebate for the non-hidden amount.

Deposits and Withdrawals

BitMEX does not charge fees on deposits or withdrawals. However, when withdrawing Bitcoin, the minimum Network fee is based on blockchain load. The only costs therefore are those of the banks or the cryptocurrency networks.
As noted previously, BitMEX only accepts deposits in Bitcoin and therefore Bitcoin serves as collateral on trading contracts, regardless of whether or not the trade involves Bitcoin.
The minimum deposit is 0.001 BTC. There are no limits on withdrawals, but withdrawals can also be in Bitcoin only. To make a withdrawal, all that users need to do is insert the amount to withdraw and the wallet address to complete the transfer.
https://preview.redd.it/xj1kbuew3cc41.jpg?width=808&format=pjpg&auto=webp&s=68056f2247001c63e89c880cfbb75b2f3616e8fe
Deposits can be made 24/7 but withdrawals are processed by hand at a recurring time once per day. The hand processed withdrawals are intended to increase the security levels of users’ funds by providing extra time (and email notice) to cancel any fraudulent withdrawal requests, as well as bypassing the use of automated systems & hot wallets which may be more prone to compromise.

Supported Currencies

BitMEX operates as a crypto to crypto exchange and makes use of a Bitcoin-in/Bitcoin-out structure. Therefore, platform users are currently unable to use fiat currencies for any payments or transfers, however, a plus side of this is that there are no limits for trading and the exchange incorporates trading pairs linked to the US Dollar (XBT), Japanese Yen (XBJ), and Chinese Yuan (XBC).
BitMEX supports the following cryptocurrencies:
  • Bitcoin (XBT)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Litecoin (LTC)
  • Ripple Token (XRP)
  • Monero (XMR)
  • Dash (DASH)
  • Zcash (ZEC)
  • Cardano (ADA)
  • Tron (TRX)
  • EOS Token (EOS)
BitMEX also offers leverage options on the following coins:
  • 5x: Zcash (ZEC)
  • 20x : Ripple (XRP),Bitcoin Cash (BCH), Cardano (ADA), EOS Token (EOS), Tron (TRX)
  • 25x: Monero (XMR)
  • 33x: Litecoin (LTC)
  • 50x: Ethereum (ETH)
  • 100x: Bitcoin (XBT), Bitcoin / Yen (XBJ), Bitcoin / Yuan (XBC)

Trading Technologies International Partnership

HDR Global Trading, the company which owns BitMEX, has recently announced a partnership with Trading Technologies International, Inc. (TT), a leading international high-performance trading software provider.
The TT platform is designed specifically for professional traders, brokers, and market-access providers, and incorporates a wide variety of trading tools and analytical indicators that allow even the most advanced traders to customize the software to suit their unique trading styles. The TT platform also provides traders with global market access and trade execution through its privately managed infrastructure and the partnership will see BitMEX users gaining access to the trading tools on all BitMEX products, including the popular XBT/USD Perpetual Swap pairing.
https://preview.redd.it/qcqunaby3cc41.png?width=672&format=png&auto=webp&s=b77b45ac2b44a9af30a4985e3d9dbafc9bbdb77c

The BitMEX Insurance Fund

The ability to trade on leverage is one of the exchange’s main selling points and offering leverage and providing the opportunity for traders to trade against each other may result in a situation where the winners do not receive all of their expected profits. As a result of the amounts of leverage involved, it’s possible that the losers may not have enough margin in their positions to pay the winners.
Traditional exchanges like the Chicago Mercantile Exchange (CME) offset this problem by utilizing multiple layers of protection and cryptocurrency trading platforms offering leverage cannot currently match the levels of protection provided to winning traders.
In addition, cryptocurrency exchanges offering leveraged trades propose a capped downside and unlimited upside on a highly volatile asset with the caveat being that on occasion, there may not be enough funds in the system to pay out the winners.
To help solve this problem, BitMEX has developed an insurance fund system, and when a trader has an open leveraged position, their position is forcefully closed or liquidated when their maintenance margin is too low.
Here, a trader’s profit and loss does not reflect the actual price their position was closed on the market, and with BitMEX when a trader is liquidated, their equity associated with the position drops down to zero.
In the following example, the trader has taken a 100x long position. In the event that the mark price of Bitcoin falls to $3,980 (by 0.5%), then the position gets liquidated with the 100 Bitcoin position needing to be sold on the market.
This means that it does not matter what price this trade executes at, namely if it’s $3,995 or $3,000, as from the view of the liquidated trader, regardless of the price, they lose all the equity they had in their position, and lose the entire one Bitcoin.
https://preview.redd.it/wel3rka04cc41.png?width=669&format=png&auto=webp&s=3f93dac2d3b40aa842d281384113d2e26f25947e
Assuming there is a fully liquid market, the bid/ask spread should be tighter than the maintenance margin. Here, liquidations manifest as contributions to the insurance fund (e.g. if the maintenance margin is 50bps, but the market is 1bp wide), and the insurance fund should rise by close to the same amount as the maintenance margin when a position is liquidated. In this scenario, as long as healthy liquid markets persist, the insurance fund should continue its steady growth.
The following graphs further illustrate the example, and in the first chart, market conditions are healthy with a narrow bid/ask spread (just $2) at the time of liquidation. Here, the closing trade occurs at a higher price than the bankruptcy price (the price where the margin balance is zero) and the insurance fund benefits.
Illustrative example of an insurance contribution – Long 100x with 1 BTC collateral
https://preview.redd.it/is89ep924cc41.png?width=699&format=png&auto=webp&s=f0419c68fe88703e594c121b5b742c963c7e2229
(Note: The above illustration is based on opening a 100x long position at $4,000 per BTC and 1 Bitcoin of collateral. The illustration is an oversimplification and ignores factors such as fees and other adjustments.
The bid and offer prices represent the state of the order book at the time of liquidation. The closing trade price is $3,978, representing $1 of slippage compared to the $3,979 bid price at the time of liquidation.)
The second chart shows a wide bid/ask spread at the time of liquidation, here, the closing trade takes place at a lower price than the bankruptcy price, and the insurance fund is used to make sure that winning traders receive their expected profits.
This works to stabilize the potential for returns as there is no guarantee that healthy market conditions can continue, especially during periods of heightened price volatility. During these periods, it’s actually possible that the insurance fund can be used up than it is built up.
Illustrative example of an insurance depletion – Long 100x with 1 BTC collateral
https://preview.redd.it/vb4mj3n54cc41.png?width=707&format=png&auto=webp&s=0c63b7c99ae1c114d8e3b947fb490e9144dfe61b
(Notes: The above illustration is based on opening a 100x long position at $4,000 per BTC and 1 Bitcoin of collateral. The illustration is an oversimplification and ignores factors such as fees and other adjustments.
The bid and offer prices represent the state of the order book at the time of liquidation. The closing trade price is $3,800, representing $20 of slippage compared to the $3,820 bid price at the time of liquidation.)
The exchange declared in February 2019, that the BitMEX insurance fund retained close to 21,000 Bitcoin (around $70 million based on Bitcoin spot prices at the time).
This figure represents just 0.007% of BitMEX’s notional annual trading volume, which has been quoted as being approximately $1 trillion. This is higher than the insurance funds as a proportion of trading volume of the CME, and therefore, winning traders on BitMEX are exposed to much larger risks than CME traders as:
  • BitMEX does not have clearing members with large balance sheets and traders are directly exposed to each other.
  • BitMEX does not demand payments from traders with negative account balances.
  • The underlying instruments on BitMEX are more volatile than the more traditional instruments available on CME.
Therefore, with the insurance fund remaining capitalized, the system effectively with participants who get liquidated paying for liquidations, or a losers pay for losers mechanism.
This system may appear controversial as first, though some may argue that there is a degree of uniformity to it. It’s also worth noting that the exchange also makes use of Auto Deleveraging which means that on occasion, leveraged positions in profit can still be reduced during certain time periods if a liquidated order cannot be executed in the market.
More adventurous traders should note that while the insurance fund holds 21,000 Bitcoin, worth approximately 0.1% of the total Bitcoin supply, BitMEX still doesn’t offer the same level of guarantees to winning traders that are provided by more traditional leveraged trading platforms.
Given the inherent volatility of the cryptocurrency market, there remains some possibility that the fund gets drained down to zero despite its current size. This may result in more successful traders lacking confidence in the platform and choosing to limit their exposure in the event of BitMEX being unable to compensate winning traders.

How suitable is BitMEX for Beginners?

BitMEX generates high Bitcoin trading levels, and also attracts good levels of volume across other crypto-to-crypto transfers. This helps to maintain a buzz around the exchange, and BitMEX also employs relatively low trading fees, and is available round the world (except to US inhabitants).
This helps to attract the attention of people new to the process of trading on leverage and when getting started on the platform there are 5 main navigation Tabs to get used to:
  • **Trade:**The trading dashboard of BitMEX. This tab allows you to select your preferred trading instrument, and choose leverage, as well as place and cancel orders. You can also see your position information and view key information in the contract details.
  • **Account:**Here, all your account information is displayed including available Bitcoin margin balances, deposits and withdrawals, and trade history.
  • **Contracts:**This tab covers further instrument information including funding history, contract sizes; leverage offered expiry, underlying reference Price Index data, and other key features.
  • **References:**This resource centre allows you to learn about futures, perpetual contracts, position marking, and liquidation.
  • **API:**From here you can set up an API connection with BitMEX, and utilize the REST API and WebSocket API.
BitMEX also employs 24/7 customer support and the team can also be contacted on their Twitter and Reddit accounts.
In addition, BitMEX provides a variety of educational resources including an FAQ section, Futures guides, Perpetual Contracts guides, and further resources in the “References” account tab.
For users looking for more in depth analysis, the BitMEX blog produces high level descriptions of a number of subjects and has garnered a good reputation among the cryptocurrency community.
Most importantly, the exchange also maintains a testnet platform, built on top of testnet Bitcoin, which allows anyone to try out programs and strategies before moving on to the live exchange.
This is crucial as despite the wealth of resources available, BitMEX is not really suitable for beginners, and margin trading, futures contracts and swaps are best left to experienced, professional or institutional traders.
Margin trading and choosing to engage in leveraged activity are risky processes and even more advanced traders can describe the process as a high risk and high reward “game”. New entrants to the sector should spend a considerable amount of time learning about margin trading and testing out strategies before considering whether to open a live account.

Is BitMEX Safe?

BitMEX is widely considered to have strong levels of security. The platform uses multi-signature deposits and withdrawal schemes which can only be used by BitMEX partners. BitMEX also utilises Amazon Web Services to protect the servers with text messages and two-factor authentication, as well as hardware tokens.
BitMEX also has a system for risk checks, which requires that the sum of all account holdings on the website must be zero. If it’s not, all trading is immediately halted. As noted previously, withdrawals are all individually hand-checked by employees, and private keys are never stored in the cloud. Deposit addresses are externally verified to make sure that they contain matching keys. If they do not, there is an immediate system shutdown.
https://preview.redd.it/t04qs3484cc41.jpg?width=808&format=pjpg&auto=webp&s=a3b106cbc9116713dcdd5e908c00b555fd704ee6
In addition, the BitMEX trading platform is written in kdb+, a database and toolset popular amongst major banks in high frequency trading applications. The BitMEX engine appears to be faster and more reliable than some of its competitors, such as Poloniex and Bittrex.
They have email notifications, and PGP encryption is used for all communication.
The exchange hasn’t been hacked in the past.

How Secure is the platform?

As previously mentioned, BitMEX is considered to be a safe exchange and incorporates a number of security protocols that are becoming standard among the sector’s leading exchanges. In addition to making use of Amazon Web Services’ cloud security, all the exchange’s systems can only be accessed after passing through multiple forms of authentication, and individual systems are only able to communicate with each other across approved and monitored channels.
Communication is also further secured as the exchange provides optional PGP encryption for all automated emails, and users can insert their PGP public key into the form inside their accounts.
Once set up, BitMEX will encrypt and sign all the automated emails sent by you or to your account by the [[email protected]](mailto:[email protected]) email address. Users can also initiate secure conversations with the support team by using the email address and public key on the Technical Contact, and the team have made their automated system’s PGP key available for verification in their Security Section.
The platform’s trading engine is written in kdb+, a database and toolset used by leading financial institutions in high-frequency trading applications, and the speed and reliability of the engine is also used to perform a full risk check after every order placement, trade, settlement, deposit, and withdrawal.
All accounts in the system must consistently sum to zero, and if this does not happen then trading on the platform is immediately halted for all users.
With regards to wallet security, BitMEX makes use of a multisignature deposit and withdrawal scheme, and all exchange addresses are multisignature by default with all storage being kept offline. Private keys are not stored on any cloud servers and deep cold storage is used for the majority of funds.
Furthermore, all deposit addresses sent by the BitMEX system are verified by an external service that works to ensure that they contain the keys controlled by the founders, and in the event that the public keys differ, the system is immediately shut down and trading halted. The exchange’s security practices also see that every withdrawal is audited by hand by a minimum of two employees before being sent out.

BitMEX Customer Support

The trading platform has a 24/7 support on multiple channels, including email, ticket systems and social media. The typical response time from the customer support team is about one hour, and feedback on the customer support generally suggest that the customer service responses are helpful and are not restricted to automated responses.
https://preview.redd.it/8k81zl0a4cc41.jpg?width=808&format=pjpg&auto=webp&s=e30e5b7ca93d2931f49e2dc84025f2fda386eab1
The BitMEX also offers a knowledge base and FAQs which, although they are not necessarily always helpful, may assist and direct users towards the necessary channels to obtain assistance.
BitMEX also offers trading guides which can be accessed here

Conclusion

There would appear to be few complaints online about BitMEX, with most issues relating to technical matters or about the complexities of using the website. Older complaints also appeared to include issues relating to low liquidity, but this no longer appears to be an issue.
BitMEX is clearly not a platform that is not intended for the amateur investor. The interface is complex and therefore it can be very difficult for users to get used to the platform and to even navigate the website.
However, the platform does provide a wide range of tools and once users have experience of the platform they will appreciate the wide range of information that the platform provides.
Visit BitMEX
submitted by bitmex_register to u/bitmex_register [link] [comments]

Bitcoin $100k, everyone happy but....

..what's the point of waiting for Bitcoin to reach higher $ numbers when it is difficult or almost useless to use it to buy goods? We say it's a new digital monetary system (digital and virtual money) or store of value and is easy to make transactions but it's difficult to trust it and use it for business purpose.
Look at the charts. It fluctuates and not many merchants would want to accept bitcoin as a payment because of the fear of the price drop. Less hope for it to moon. But what's the point?
I get it, "it's decentralized" and not censored (not controlled by any banks, govs and is free..) but still. How can you guarantee that today I paid for 1 beer, let's say 0.001 btc ($10 or 10 any stable coin) and after 1 month the bar owners sells 0.001 btc for the $10 or 10 any stable coin? We r measuring its worth with dollar or stable/coins and number people considering it as a store of/ or just value.
Today 1 btc can be $10k. Tomorrow it can be $20k. After tomorrow it can also be $5k or $30k.
People easily manipulate the market. The $ value of btc drops or rises, trust of buying and selling with/for bitcoin tightens and fear increases and other emotions involves and you end up hodling it waiting for a hope...
Do you know how many whales hodling from 100 btc to 10,000 btc? Are you so confident they will not sell all of their bitcoins when it reaches higher and end up making people miserable who buys at pick?.. this shit happens unless exchanges offer unlimited buy or sell orders daily per each user.
*******Yes I get it that it won't be fun trading for traders if limit of daily trading (withdraw and deposit) is set in all exchanges/ATMs but...
How can we make the market more stable? How can we "crypto enthusiast" prevent fluctuation? How can we avoid manipulation? How can we ensure that today we buy a beer with bitcoin for $xx and tomorrow that value does not drop TOO LOW or rise TOO HIGH so to use Bitcoin (or other cryptocurrencies) as a fearless and trusted digital/virtual money? . . . I hope this topic turns into conversation and education for some of us but not hatred.
submitted by whatsoncrypto to Bitcoin [link] [comments]

How to Invest with little Money Safely?

How to Invest with little Money Safely?
Bitcoin is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Bitcoin was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its source code was released as open-source software. Bitcoins are created as a reward for a process known as mining.
As a mainstream cryptocurrency, Bitcoin gets a stable market price, you can keep it as a long term or short term investment. The price of Bitcoin is low when it invented, but raise to thousands USD in several years, some countries make Bitcoins the transaction currency, that means the price of Bitcoin will raise higher and higher in the future, if you want to invest it, it’s a good idea. I will make some analysis about Bitcoin from 2018 to 2019, then you can make you decision objective.
Let’s look at the picture below:
https://preview.redd.it/s6eqewcgs6x31.png?width=1264&format=png&auto=webp&s=40e1eb2230da365c8ac7935a46d5437d5af63eb3
We can see the exchange chart of BTC for month, we found that the highest price of BTC was in December 2017, up to $19875.85, the lowest price was in December 2018, was $3155, the price change a lot, as it’s a mainstream cryptocurrency and legit in many countries, so the price will raise in the future.
https://preview.redd.it/293qjrjhs6x31.png?width=1268&format=png&auto=webp&s=a6ea48b907433d3d35470ad46a7e1cfde5d3c25c
We can see the exchange chart of BTC for week, we found the price will keep down in a short time in 2019, but it will raise no more than December 2019, then get a new keep down, will raise in March 2020, because of the halve rewards will happen in April 2020.
https://preview.redd.it/3rfkhljis6x31.png?width=1268&format=png&auto=webp&s=f7bd79c8f8bd18c97d0cb4fa5ec4071f33c092db
Seeing the exchange chart of BTC for day, the chart from April to October 2019, we can found the price of BTC can be said stable in a short time, but fluctuate a lot in long term, so, if you want to invest botcoin, it’s a better choice now.
By the way, if you just want to invest a few BTC, that’s no problem, Huobi Global support the min amount is 0.001, you just need several USD then you can invest BTC, for more details, you can have a view on https://www.m8x.com.
submitted by GirleeS to Bitcoin [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
Some great introductions for new users are My first bitcoin, Bitcoin explained and ELI5 Bitcoin. Also, the following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
Also have to give mention to Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series. Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute. Bitcoin statistics can be found here, here and here. Developer resources can be found here, here and here. Peer-reviewed research papers can be found here. Potential upcoming protocol improvements here. Scaling resources here. The number of times Bitcoin was declared dead by the media can be found here (LOL!), and of course Satoshi Nakamoto's whitepaper that started it all! :)
Key properties of bitcoin

Where can I buy bitcoins?

Bitcoin.org, BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Gemini Bitstamp LocalBitcoins
Bitstamp Bitit Mycelium LocalTrader
BitFinex Cex.io LibertyX
Cex.io CoinMama WallofCoins
Xapo Spectrocoin BitcoinOTC
Kraken Luno BitQuick
itBit
HitBTC
Bitit
Bisq (decentralized)
Luno
Spectrocoin
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Samouari BreadWallet Electrum
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for some good options, some of the more commons ones are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, Overstock, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Hyphen.to, Coinsfer, More #1, #2 Bill payment
Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

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

Can I mine bitcoin?

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

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Streamium.io, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream, Rootstock and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

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

Over three million bitcoin addresses consolidated

In January there were 14,000,000 addresses containing 0.001 BTC or less. Now there are around 10,500,000.
Low fees have prompted a huge amount of defragging, much of it at 1 sat/byte: this one for example consolidating tiny 824 satoshi dust particles.
The UTXO has consolidated from 67.5 million to 55 million. At a rough guess, for the last several weeks about a quarter of daily volume (by MB) has been this ‘backlog’ of defragging (backlog from when high fees made it too expensive). Consolidating 12.5 million bits of dust at 148 bytes per input fills getting on for 2,000 blocks - almost 2 weeks’ worth of traffic.
When the defrag backlog is done, and now we have segwit and batching, transacting at 1 sat/byte knowing you’ll get into the next few blocks could become the norm again.
submitted by factualisimus to Bitcoin [link] [comments]

How Many More Birthdays Until Bitcoin Wins?

John Biggs is CoinDesk’s multimedia editor. The views expressed here are his own.
Bitcoin just turned 11 and it’s worth looking at what this technology has achieved. First, some context.
Facebook is 14 while Twitter is 13. Linux is 28. The World Wide Web – the network you’re reading this on – is 30. TCP/IP is about 44 years old, depending on whom you ask.
If you’re into a bitcoin, you’re most likely 18 to 34 years old, according to pollsters at the Global Blockchain Business Council. And you probably joined the bitcoin party about five years ago and own some fraction of or even a full coin. Some of you own many, many more.
I’m about as old as TCP/IP. I’m part of the generation that saw computing’s evolutionary bloom. If you’re younger, you’ve gotten used to modern networking technology and you don’t remember a time when everything wasn’t done on a screen. You were there for the birth of bitcoin.
But on the 11th anniversary of the white paper’s publication, we face a question: How long must we wait until bitcoin becomes like Twitter or Linux, something you use every day? Ten years? Twenty?
Bitcoin, from the vantage point of pure adoption, has been a failure. But it remains a beacon, the best chance we have for truly shaking up the status quo and, ultimately, changing the way we interact with our fellow global citizens.
When will we be using bitcoin daily? When will the underlying technology embed itself into the fabric of our financial lives?
Shrug. We don’t know.

Bigger than Belgium

A billion people use Facebook every month. On Twitter, it’s 330 million. Both services ramped up quickly but really took off in the last few years. Linux is on 98 percent of servers worldwide – that took a while but ramped up after the dot-com boom. The web is everywhere, but that took a solid 20 years to happen.
How many people use bitcoin? It’s hard to gauge on a decentralized network designed for anonymity. For a rough proxy, CoVenture Research says there are “11.2 million bitcoin addresses that hold at least .001 BTC,” or about $9 worth.
That’s a big number, more than the number of people in New York, including the outer boroughs. Of course, a single user can, and often does, control multiple addresses. Yet if anything, this estimate may be too conservative. An April 2019 survey by Harris Poll, done for Blockchain Capital, found 9 percent of Americans27 million people – own bitcoin.
All told, it’s safe to say that if the crypto community were a country, it would be bigger than Belgium.
But it’s not 330 million and it’s not a billion. It’s enough that the average investor and programmer will take notice and it’s enough for Hollywood to consider the topic interesting enough for an awful movie. But 11 million in 11 years is not good for bitcoin.
If bitcoin were a startup it would exist in the Valley of Death. In the startup world, an app with 11 million users is strong enough to generate some revenue but not interesting enough to attract massive investment. Bitcoin is like that. It works, but not enough to turn heads outside of a vocal minority.
So where is bitcoin going? Is 11 million enough? How many more years until we get to mass adoption?
Another shrug. Another unknown. We see the forward motion every day on CoinDesk – the various small changes that add up to a story of a platform. (Or is it a movement?)
This points to the primary problem that bitcoin and the wider crypto ecosystem has to accept. Facebook and Twitter achieved those numbers through investments far smaller than bitcoin’s $165 billion market cap. Linux and FOSS endeared themselves to developers enough that they happily contributed their time freely. The web grows by itself because it is trivial to join the party.
Bitcoin exhibits few of those traits. Bitcoin startup investment is cold. The crypto ecosystem is insular and self-involved, difficult for outsiders to join. The network grows by fits and starts, driven primarily by Number Go Up. We are in a vibrant early stage in which everyone is a pioneer and there is no clear way forward. Infighting turns developer against developer while crypto clowns hog the mainstream media’s attention. Only a small, dedicated group holds the center together.
This is bad for bitcoin.

Stay tuned

By all rights, bitcoin shouldn’t survive another ten years. All the things that made Linux and Twitter and Facebook and the PS4 and Netflix commercial successes cannot be seen in bitcoin’s rise. You can’t spin up an AI that can write Harry Potter novels on bitcoin.
Bitcoin doesn’t move the world’s financial markets the way Twitter does nor does it get the same scrutiny that Facebook does. There is no “bitcoin and chill.”
Yet it still exists.
You will argue that it’s unfair to compare bitcoin to all of those things. But bitcoin is both a financial instrument and a technical product. It is, like a startup, a work in progress, an alpha product that may graduate to beta with a little more time. It is a good idea that needs another summer or two to germinate.
When I first looked at Spotify, 13 years ago, I saw the future of streaming music that freed me from CDs. When I stuck a copy of Mandrake Linux into my Pentium computer in 1998 I saw a future of machines freed from paid software. When I look at bitcoin through the eyes of an uninterested programmer I see numbers and hype and scams. But when I look at bitcoin through the eyes of someone who wants to catch the next big thing, I see the possibility that one day, not too far in the future, it will make banking and commerce vastly different.
All of the other services and tools I mentioned above are reaching their apex. It’s all downhill from here. Bitcoin, to quote the Joker, is just getting warmed up.
Bitcoin is a slow burn, one that will take another five or ten years to really explode. And when it does it won’t be visible like Facebook or Netflix. It won’t be one level removed from our browsers, hiding just out of sight, like Linux. It will be ingrained in our lives, in the interaction between our money and the world. It will be the currency used between humans and robots and between robots and robots. It will become so useful that it will disappear.
Bitcoin is 11. Where is it going? When will it win?
Shrug. We don’t know. But, compared with everything that came before it, there is little out there to stop bitcoin and a lot of energy driving it forward. It’s only a matter of time.
Bitcoin 2014 image via CoinDesk archives
submitted by casazeg to cryptonewswire [link] [comments]

NOOBS INVESTORS: Stop bombarding subreddits with FUD over price drops.

Its getting out if control.
Before you start posting questions/complaints :
If you see just about everything in red, its the entire market. It isn't a problem with the crypto you are holding.
If bitcoin starts dipping, almost everything dips.
This is because everything is still priced in BTC. BTC is still used as a universal price comparison. If buy orders are up for .001 BTC each while the price of BTC is dropping...the USD price for your crypto drops by default. You don't need to master blockchain tech to know this. However, You might need to have completed at least one year in high school with at least C+ in math for this to come as common sense.
Maturity might be part of issue here, I know some of you are probably 13 and probably used your allowance money to convince mommy to use her debit card for your first investment.
I for one, and many here just want to read the latest updates on our investments without having to scroll through multiple posts with titles ..,
what's going on with the price?
the price is dipping because were not on big exchages yet
EVERYTIME THE MARKET DIPS WE HAVE TO SEE THIS GARABGE!
Just go out and get some exercise. HOLY SHIT!
submitted by JuicySpark to CryptoCurrency [link] [comments]

The Great Bitcoin Bull Market Of 2017 by Trace Mayer

By: Trace Mayer, host of The Bitcoin Knowledge Podcast.
Originally posted here with images and Youtube videos.
I just got back from a two week vacation without Internet as I was scouring some archeological ruins. I hardly thought about Bitcoin at all because there were so many other interesting things and it would be there when I got back.
Jimmy Song suggested I do an article on the current state of Bitcoin. A great suggestion but he is really smart (he worked on Armory after all!) so I better be thorough and accurate!
Therefore, this article will be pretty lengthy and meticulous.
BACKGROUND
As I completely expected, the 2X movement from the New York Agreement that was supposed to happen during the middle of my vacation flopped on its face because Jeff Garzik was driving the clown car with passengers willfully inside like Coinbase, Blockchain.info, Bitgo and Xapo and there were here massive bugS and in the code and miners like Bitmain did not want to allocate $150-350m to get it over the difficulty adjustments.
I am very disappointed in their lack of integrity with putting their money where their mouths are; myself and many others wanted to sell a lot of B2X for BTC!
On 7 December 2015, with Bitcoin trading at US$388.40, I wrote The Rise of the Fourth Great Bitcoin Bubble. On 4 December 2016, with Bitcoin trading at US$762.97, I did this interview:

As of 26 November 2017, Bitcoin is trading around US$9,250.00. That is an increase of about 2,400% since I wrote the article prognosticating this fourth great Bitcoin bull market. I sure like being right, like usual (19 Dec 2011, 1 Jul 2013), especially when there are financial and economic consequences.
With such massive gains in such a short period of time the speculative question becomes: Buy, Hold or Sell?
FUNDAMENTALS
Bitcoin is the decentralized censorship-resistant Internet Protocol for transferring value over a communications channel.
The Bitcoin network can use traditional Internet infrastructure. However, it is even more resilient because it has custom infrastructure including, thanks to Bitcoin Core developer Matt Corrallo, the FIBRE network and, thanks to Blockstream, satellites which reduce the cost of running a full-node anywhere in the world to essentially nothing in terms of money or privacy. Transactions can be cheaply broadcast via SMS messages.
SECURITY
The Bitcoin network has a difficulty of 1,347,001,430,559 which suggests about 9,642,211 TH/s of custom ASIC hardware deployed.
At a retail price of approximately US$105/THs that implies about $650m of custom ASIC hardware deployed (35% discount applied).
This custom hardware consumes approximately 30 TWh per year. That could power about 2.8m US households or the entire country of Morocco which has a population of 33.85m.
This Bitcoin mining generates approximately 12.5 bitcoins every 10 minutes or approximately 1,800 per day worth approximately US$16,650,000.
Bitcoin currently has a market capitalization greater than $150B which puts it solidly in the top-30 of M1 money stock countries and a 200 day moving average of about $65B which is increasing about $500m per day.
Average daily volumes for Bitcoin is around US$5B. That means multi-million dollar positions can be moved into and out of very easily with minimal slippage.
When my friend Andreas Antonopolous was unable to give his talk at a CRYPSA event I was invited to fill in and delivered this presentation, impromptu, on the Seven Network Effects of Bitcoin.
These seven network effects of Bitcoin are (1) Speculation, (2) Merchants, (3) Consumers, (4) Security [miners], (5) Developers, (6) Financialization and (7) Settlement Currency are all taking root at the same time and in an incredibly intertwined way.
With only the first network effect starting to take significant root; Bitcoin is no longer a little experiment of magic Internet money anymore. Bitcoin is monster growing at a tremendous rate!!

SPECULATION
For the Bitcoin price to remain at $9,250 it requires approximately US$16,650,000 per day of capital inflow from new hodlers.
Bitcoin is both a Giffen good and a Veblen good.
A Giffen good is a product that people consume more of as the price rises and vice versa — seemingly in violation of basic laws of demand in microeconomics such as with substitute goods and the income effect.
Veblen goods are types of luxury goods for which the quantity demanded increases as the price increases in an apparent contradiction of the law of demand.
There are approximately 16.5m bitcoins of which ~4m are lost, ~4-6m are in deep cold storage, ~4m are in cold storage and ~2-4m are salable.
(http://www.runtogold.com/images/lost-bitcoins-1.jpg)
(http://www.runtogold.com/images/lost-bitcoins-2.jpg)
And forks like BCash (BCH) should not be scary but instead be looked upon as an opportunity to take more territory on the Bitcoin blockchain by trading the forks for real bitcoins which dries up more salable supply by moving it, likely, into deep cold storage.
According to Wikipedia, there are approximately 15.4m millionaires in the United States and about 12m HNWIs ($30m+ net worth) in the world. In other words, if every HNWI in the world wanted to own an entire bitcoin as a 'risk-free asset' that cannot be confiscated, seized or have the balance other wise altered then they could not.
For wise portfolio management, these HNWIs should have at least about 2-5% in gold and 0.5-1% in bitcoin.
Why? Perhaps some of the 60+ Saudis with 1,700 frozen bank accounts and about $800B of assets being targetted might be able to explain it to you.
In other words, everyone loves to chase the rabbit and once they catch it then know that it will not get away.
RETAIL
There are approximately 150+ significant Bitcoin exchanges worldwide. Kraken, according to the CEO, was adding about 6,000 new funded accounts per day in July 2017.
Supposedly, Coinbase is currently adding about 75,000 new accounts per day. Based on some trade secret analytics I have access to; I would estimate Coinbase is adding approximately 17,500 new accounts per day that purchase at least US$100 of Bitcoin.
If we assume Coinbase accounts for 8% of new global Bitcoin users who purchase at least $100 of bitcoins (just pulled out of thin error and likely very conservative as the actual number is perhaps around 2%) then that is approximately $21,875,000 of new capital coming into Bitcoin every single day just from retail demand from 218,750 total new accounts.
What I have found is that most new users start off buying US$100-500 and then after 3-4 months months they ramp up their capital allocation to $5,000+ if they have the funds available.
After all, it takes some time and practical experience to learn how to safely secure one's private keys.
To do so, I highly recommend Bitcoin Core (network consensus and full validation of the blockchain), Armory (private key management), Glacier Protocol (operational procedures) and a Puri.sm laptop (secure non-specialized hardware).
WALL STREET
There has been no solution for large financial fiduciaries to invest in Bitcoin. This changed November 2017.
LedgerX, whose CEO I interviewed 23 March 2013, began trading as a CFTC regulated Swap Execution Facility and Derivatives Clearing Organization.
The CME Group announced they will begin trading in Q4 2017 Bitcoin futures.
The CBOE announced they will begin trading Bitcoin futures soon.
By analogy, these institutional products are like connecting a major metropolis's water system (US$90.4T and US$2 quadrillion) via a nanoscopic shunt to a tiny blueberry ($150B) that is infinitely expandable.
This price discovery could be the most wild thing anyone has ever experienced in financial markets.
THE GREAT CREDIT CONTRACTION
The same week Bitcoin was released I published my book The Great Credit Contraction and asserted it had now begun and capital would burrow down the liquidity pyramid into safer and more liquid assets.
(http://www.runtogold.com/images/Great-Credit-Contraction-Liquidity-Pyramid.jpg)
Thus, the critical question becomes: Is Bitcoin a possible solution to the Great Credit Contraction by becoming the safest and most liquid asset?
BITCOIN'S RISK PROFILE
At all times and in all circumstances gold remains money but, of course, there is always exchange rate risk due to price ratios constantly fluctuating. If the metal is held with a third-party in allocated-allocated storage (safest possible) then there is performance risk (Morgan Stanley gold storage lawsuit).
But, if properly held then, there should be no counter-party risk which requires the financial ability of a third-party to perform like with a bank account deposit. And, since gold exists at a single point in space and time therefore it is subject to confiscation or seizure risk.
Bitcoin is a completely new asset type. As such, the storage container is nearly empty with only $150B.
And every Bitcoin transaction effectively melts down every BTC and recasts it; thus ensuring with 100% accuracy the quantity and quality of the bitcoins. If the transaction is not on the blockchain then it did not happen. This is the strictest regulation possible; by math and cryptography!
This new immutable asset, if properly secured, is subject only to exchange rate risk. There does exist the possibility that a software bug may exist that could shut down the network, like what has happened with Ethereum, but the probability is almost nil and getting lower everyday it does not happen.
Thus, Bitcoin arguably has a lower risk profile than even gold and is the only blockchain to achieve security, scalability and liquidity.
To remain decentralized, censorship-resistant and immutable requires scalability so as many users as possible can run full-nodes.
(http://www.runtogold.com/images/ethereum-bitcoin-scability-nov-2017.png)
TRANSACTIONS
Some people, probably mostly those shilling alt-coins, think Bitcoin has a scalability problem that is so serious it requires a crude hard fork to solve.
On the other side of the debate, the Internet protocol and blockchain geniuses assert the scalability issues can, like other Internet Protocols have done, be solved in different layers which are now possible because of Segregated Witness which was activated in August 2017.
Whose code do you want to run: the JV benchwarmers or the championship Chicago Bulls?
As transaction fees rise, certain use cases of the Bitcoin blockchain are priced out of the market. And as the fees fall then they are economical again.
Additionally, as transaction fees rise, certain UTXOs are no longer economically usable thus destroying part of the money supply until fees decline and UTXOs become economical to move.
There are approximately 275,000-350,000 transactions per day with transaction fees currently about $2m/day and the 200 DMA is around $1.08m/day.
(http://www.runtogold.com/images/bitcoin-transaction-fees-nov-2017.png)
What I like about transaction fees is that they somewhat reveal the financial health of the network.
The security of the Bitcoin network results from the miners creating solutions to proof of work problems in the Bitcoin protocol and being rewarded from the (1) coinbase reward which is a form of inflation and (2) transaction fees which is a form of usage fee.
The higher the transaction fees then the greater implied value the Bitcoin network provides because users are willing to pay more for it.
I am highly skeptical of blockchains which have very low transaction fees. By Internet bubble analogy, Pets.com may have millions of page views but I am more interested in EBITDA.
DEVELOPERS
Bitcoin and blockchain programming is not an easy skill to acquire and master. Most developers who have the skill are also financially independent now and can work on whatever they want.
The best of the best work through the Bitcoin Core process. After all, if you are a world class mountain climber then you do not hang out in the MacDonalds play pen but instead climb Mount Everest because that is where the challenge is.
However, there are many talented developers who work in other areas besides the protocol. Wallet maintainers, exchange operators, payment processors, etc. all need competent developers to help build their businesses.
Consequently, there is a huge shortage of competent developers. This is probably the largest single scalability constraint for the ecosystem.
Nevertheless, the Bitcoin ecosystem is healthier than ever before.
(http://www.runtogold.com/images/bitcoin-ecosystem.jpg)(/images/bitcoin-ecosystem-small.jpg)
SETTLEMENT CURRENCY
There are no significant global reserve settlement currency use cases for Bitcoin yet.
Perhaps the closest is Blockstream's Strong Federations via Liquid.
PRICE
There is a tremendous amount of disagreement in the marketplace about the value proposition of Bitcoin. Price discovery for this asset will be intense and likely take many cycles of which this is the fourth.
Since the supply is known the exchange rate of Bitcoins is composed of (1) transactional demand and (2) speculative demand.
Interestingly, the price elasticity of demand for the transactional demand component is irrelevant to the price. This makes for very interesting dynamics!
(http://www.runtogold.com/images/bitcoin-speculation.jpg)
On 4 May 2017, Lightspeed Venture Partners partner Jeremy Liew who was among the early Facebook investors and the first Snapchat investor laid out their case for bitcoin exploding to $500,000 by 2030.
On 2 November 2017, Goldman Sachs CEO Lloyd Blankfein (https://www.bloomberg.com/news/articles/2017-11-02/blankfein-says-don-t-dismiss-bitcoin-while-still-pondering-value)said, "Now we have paper that is just backed by fiat...Maybe in the new world, something gets backed by consensus."
On 12 Sep 2017, JP Morgan CEO called Bitcoin a 'fraud' but conceded that "(http://fortune.com/2017/09/12/jamie-dimon-bitcoin-cryptocurrency-fraud-buy/)Bitcoin could reach $100,000".
Thus, it is no surprise that the Bitcoin chart looks like a ferret on meth when there are such widely varying opinions on its value proposition.
I have been around this space for a long time. In my opinion, those who scoffed at the thought of $1 BTC, $10 BTC (Professor Bitcorn!), $100 BTC, $1,000 BTC are scoffing at $10,000 BTC and will scoff at $100,000 BTC, $1,000,000 BTC and even $10,000,000 BTC.
Interestingly, the people who understand it the best seem to think its financial dominance is destiny.
Meanwhile, those who understand it the least make emotionally charged, intellectually incoherent bearish arguments. A tremendous example of worldwide cognitive dissonance with regards to sound money, technology and the role or power of the State.
Consequently, I like looking at the 200 day moving average to filter out the daily noise and see the long-term trend.
(http://www.runtogold.com/images/bitcoin-price-200dma-nov-2017.png)
Well, that chart of the long-term trend is pretty obvious and hard to dispute. Bitcoin is in a massive secular bull market.
The 200 day moving average is around $4,001 and rising about $30 per day.
So, what do some proforma situations look like where Bitcoin may be undervalued, average valued and overvalued? No, these are not prognostications.
(http://www.runtogold.com/images/bitcoin-price-pro-forma.png)
Maybe Jamie Dimon is not so off his rocker after all with a $100,000 price prediction.
We are in a very unique period of human history where the collective globe is rethinking what money is and Bitcoin is in the ring battling for complete domination. Is or will it be fit for purpose?
As I have said many times before, if Bitcoin is fit for this purpose then this is the largest wealth transfer in the history of the world.
CONCLUSION
Well, this has been a brief analysis of where I think Bitcoin is at the end of November 2017.
The seven network effects are taking root extremely fast and exponentially reinforcing each other. The technological dominance of Bitcoin is unrivaled.
The world is rethinking what money is. Even CEOs of the largest banks and partners of the largest VC funds are honing in on Bitcoin's beacon.
While no one has a crystal ball; when I look in mine I see Bitcoin's future being very bright.
Currently, almost everyone who has bought Bitcoin and hodled is sitting on unrealized gains as measured in fiat currency. That is, after all, what uncharted territory with daily all-time highs do!
But perhaps there is a larger lesson to be learned here.
Riches are getting increasingly slippery because no one has a reliable defined tool to measure them with. Times like these require incredible amounts of humility and intelligence guided by macro instincts.
Perhaps everyone should start keeping books in three numéraires: USD, gold and Bitcoin.
Both gold and Bitcoin have never been worth nothing. But USD is a fiat currency and there are thousands of those in the fiat currency graveyard. How low can the world reserve currency go?
After all, what is the risk-free asset? And, whatever it is, in The Great Credit Contraction you want it!
What do you think? Disagree with some of my arguments or assertions? Please, eviscerate them on Twitter or in the comments!
submitted by bitcoinknowledge to Bitcoin [link] [comments]

PortBitX.COM White Paper

White Paper


We are a free society united by the basic idea of ​​freedom and justice, separated from geographical, religious, ethnic and gender prejudices, we reaffirm this document, and we promise to protect freedom and benefit people always and everywhere.

PortBitX Project

The PORTBITX project team creates a service whose main idea is to provide a mobile and convenient system where users and cryptocurrency owners can receive a wide range of services.

1 The essence of the project

The project team asks you to support the creation of a high-tech, simple, convenient and honest ecosystem for people who need to protect their rights and freedoms and use the right to be anonymous and financially independent.
The mission of the project is to create a service for storing and exchanging cryptocurrency assets, and also to become a tool allowing to conduct trading operations regardless of geographic location or language skills.
Advantages of the project:

2 State of affairs

Owing to ignorance or low awareness of people about the nature of cryptocurrency assets, cryptoindustry is mythologized in modern society. This applies to both ordinary people and officials in authority.
As a rule, in the minds of people there is more confidence in traditional financial instruments than in technology during their development, for example blockchain (the inability to change the information block / blockchain chain).History knows many examples when the governments of different countries, guided by the interests of their citizens, inadvertently led to the decline of advanced civil initiatives. This time is a period of complex formation of crypto-economics and state relations, which is still in the making.
The project that we present to your attention has no borders between countries and peoples. And we, a group of enthusiasts, would very much like to cooperate with large government organizations. But, to our deep regret, the states currently at the stage of formation of their cryptocurrency policies make mistakes that negatively affect the crypto community.
The market of cryptocurrency assets, which has a ten-year history of development, is very sensitive to various statements by officials. However, unqualified criticism cannot withstand the global trend. And no one can stop the future.
With all the desire, time does not stand still, technologies themselves continue to evolve, new technologies, new projects, new views that can be upgraded in the distant future, as well as processes of government and regulation themselves, to introduce innovative elements into them. We do not expect the distant future, and many tools are available now. And we have something to offer you.
This is especially relevant against the backdrop of the upcoming global financial crisis, with the inevitable decline in trust in state financial institutions; cryptocurrency have high chances of becoming more popular in the absence of other technological alternatives.
As we noted earlier, there is a lack of awareness among people about Blockchain technology and cryptocurrencies. These technologies are extremely undervalued, since there is much more benefit in them than one can imagine.
In the cryptocurrency assets industry itself, there are fraudsters at this time who are trying to steal or fraudulently get your money.
At the same time, there are many honest crypto projects that can not be realized due to stereotypes of perception of them as fraudulent. Objectively, they could be judged by their work and projects that have been successfully implemented. In principle, it is necessary to be cautious in terms of investing in any projects, even if they are guaranteed by reputable people or companies. No reputable person or company can match the level of guarantee and security of your assets, as in the Bitcoin blockchain.In any case, the decision to invest is yours, not imposed by restrictions, and the responsibility lies with you.
According to Road Map, we intend to fulfill all the terms of the agreement with our participants.
We do not promise you a high yield of our tokens, we put all our experience into the overall welfare of the project and each user. There will be no delisting on the service until the community votes for the opposite.
Our risk is collective. We urge you to make an adequate and balanced choice, instead of imposing any other opinion on you. We are not supporters of aggressive marketing.
There are many cryptocurrency assets and it’s difficult for a regular user to store and exchange them, as well as use them in everyday life.

3 Disadvantages:

These are problems that affect users and cryptocurrency in general.

4 Solution

The PORTBITX project guarantees compliance with all of its obligations and user rights.
We integrate community communications into our PORTBITX service.
Users are offered the following functions:

5 Competitors

Direct market competitors are all decentralized and centralized services related to the purchase or sale of cryptoactive assets, as well as services that provide storage services on a cold or hot crypto wallet.
More than 16 thousand services and more than 2 thousand types of cryptocurrency assets.
We have the opportunity to offer our clients a reliable and open service for the storage and exchange of cryptocurrency assets.
The main competitors are such large cryptocurrency exchanges like Binance, Bitfinix, Bitrix, etc. These multibillion-dollar projects that can affect the entire market and regulate pricing also have millions of crypto communities.
This position is deserved by their work. There are, of course, disadvantages associated with the opacity of their activities, unlike us, but in general they play an important role in the cryptoindustry. Their trading volumes are impressive and inspiring, their mistakes lead to sharp price fluctuations in the crypto market.
There are still crypto exchange. In comparison with the leaders, they are significantly inferior in the volume and number of users. These exchanges include the bulk of all crypto exchanges on the market.
There are also exchange services on the market that allow you to exchange fiat money for cryptocurrency assets. Most often the commission is quite expensive. For example, they can range from 1% to 20%. Such a high commission can be explained by the fact that the locations where buyers and sellers are located have government restrictions or are prohibited.
In addition to all of the above, there are closed groups in social networks or instant messengers. There, people discuss and agree on the price and method of payment. Commissions are often not high from 0% to 5%, but one should not hope that such operations can be safe, since personal meetings are always accompanied by a risk to life or health.
Exchange transactions in the onion network may have no guarantees at all that the transaction will be successful. In deep web, everything works on credibility / reputation, and the higher the seller’s rating, the higher the likelihood of a successful outcome of the transaction. In the same place, you can sell tagged or stolen cryptocurrency assets. For this, there are special mixing sites to hide the criminal trail. These types of exchange operations are the most unreliable.
For this reason, one of the safest types of exchange operations is large centralized cryptocurrency exchanges. Such centralized services, sometimes using their position, impose their own rules, which leads to a loss of users’ material values.
PORTBITX is designed to empower cryptographic protection for maximum convenience and simplicity, as well as to protect the funds and personal data of users.
PORTBITX connects all cryptocurrency assets into one transport hub and creates highly efficient curvilinear isolation of the currency to make cryptocurrency as safe and close to people as possible.

6 Segment

A registered user of the PORTBITX portal can be any person supporting the general idea of ​​a free society. Our users are anonymous and financially independent, with the right to vote and the right to receive common incomes obtained by the operation of the portal and the activity of the crypto community PORTBITX.
For whom we create a service:
It can be ordinary housewives, entrepreneurs, unemployed, self-employed, freelancers, people who invest in the future, wealthy investors, etc.
One of the advantages of the service is anonymity, which gives anyone the right to save and earn around the world online, without fear that tomorrow they will be forced to pay some strange fees or licenses.
Service users are interested in the distribution and real use of cryptocurrency.
Self-regulating community PORTBITX, respecting the rights of all project participants.
Service users are:
For trust in the trade service there will be a seller rating for all types of goods and services presented. There will be a book of reviews about each seller, where each buyer has the right to leave a review about the product or service. This scheme is actively used in Darknet. The basic principle: the more positive reviews, the more trust. Each seller values ​​his authority and thus provides the best possible product or service. The expression