How to invest in bitcoin using ATMs (part 1) - Bitcoin ATM Map
Bitcoin ATM Near Me Search Coin ATM Radar
Bitcoin ATMs Start Buying and selling Immediately ATM Near Me
Need to Know: How to Find a Bitcoin ATM Near You Banks.com
Bitcoin ATM. Can I use it to invest?
I live in New Hampshire. Bitcoin is unavailable in New Hampshire through Robinhood (my primary investment platform). There is a Bitcoin ATM at a station near my house. My thought. Buy Bitcoin through the ATM, Hold, and it it trends upwards, it’s a good investment. Am I correct in thinking this or am I grossly misunderstanding this? Thanks all!
I'm working on getting a ATM in my city near the border of germany in the Netherlands. Ive contacted other busnisses around town who own a bitcoin ATM in stores (Some of them got a ATM because they got asked by clients in another country). I'm likely going to buy a GB Gereral Batmthee ATM in the near future since it's a pretty nice design and cheap. The reason I invest is because I also wanne make money like everyone wants to do, but I mostly wanne spread awareness. I also wanne buy a second ATM if my investment works after maybe 2/3 years. Should I invest? What Is your experience with ATM? Do you own one and does it make alot of profit in the long-term? (Dutch comments would be great!)
I'm a 16F runaway who ran at 12 from foster care and does lots of crypto invest for a living. Ask me anything about life as a legally homeless teen and my crypto aswell. I also draw furries lol.
I ran away from foster care at 12 due to an abusive foster home, social worker and police didn't believe me because the family were prominent people in the community and no one would listen to a child. I haven't come back to them or caught since, I have actually escaped from police officers on my runaway warrant. My family abused me physically, verbally, and emotionally aswell, they made sexist comments at me for getting better grades or being physically active. I ran away from them after their family began physically slapping and harassing me and trying to say I was a horrible person. Dad tried to beat me, I shoved him back down the stairs with my body and backpack and jumped out the window and off the roof with what I had already packed. I left with two phones, my notebook laptop, necessary feminine things, thick jackets, and anything I ever had in shitty foster care. I was done with the system, and I still pretty much am. How I got into crypto was by a nearby Bitcoin ATM near my school, and I used it to stop my abusive golden child siblings from taking my money allowance I was receiving from foster care. At 12 I began investing in crypto shortly before running away. A local bank had a special savings account + debit that 13 and up could open without an adult co-signer, so I signed up for one on my 13th birthday. After the Bitcoin ATM near me shut down and was taken away, I used my savings and debit to purchase bitcoin, and even learned about ethereum. My toxic foster parents found my bank account and shut it down, they basically scared the bank employees to do so, because they were rich and very prominent. Fortunately I lost only the 5$ minimum needed for the account to stay open, but I had to wait another year until I could get another bank account of my own. Eventually I left the county I was supposed to be in after I had a few close calls and being chased by police a few times. I went to another part of my state, one with less conservative values to settle in a few shelters and monitor my crypto. My day to day life consists of being in a shelter and monitoring my crypto, where I live, shelters are allowed to hold runaways without ID and without notifying any law enforcement or CPS as long as they want to. I leave every few weeks-few months to avoid detection by occasional police officers outside and social workers. I dye my hair and change the color, zipper, and edges of my jacket to look different. I wear different colored headphones and sometimes glasses to throw off anyone on me. Where I am, there's a low crime rate, so police and people are nicer and they usually ignore or don't detect me. Ask me anything else I didn't mention or curious about what I do and how I do it. Disclaimer: My memory of anything before I ran away is extremely foggy due to some trauma I must've sustained, I am definitely aware my mental strength is far higher than what a normal 16yo female would be. I don't remember much before 11 or 12, as such it kind of feels like I've been practically a runaway for entire life rather than just four years. I also typed this with a VPN and on a library computer far from where I'm staying, don't try to track my IP address. I don't have a sim card either.
Is anyone else spooked by the stock market recovery? Worried I'm spending too much time in the sidelines thinking it's a bubble...
I'm 25 I learnt a painful lesson in 2018 after investing in crypto at all time highs - not just bitcoin, but altcoins heavily which dropped 99%. Never looked at stocks until covid-induced crash. I managed to buy some stocks at incredible low prices (Boeing, Carnival, housing stocks, oil companies, Uber etc). I invested 3.5k initially but sold some early and got spooked in mid April and sold everything. I'm only up like £350 quid, but honestly if I held maybe I would be up like 70-100%. This concerns me as the stock market has all but virtually betted on a V-shaped recovery Last thing I want to do is buy things near all time high and fomo in - never mind buying them in the middle of a global pandemic. I'd rather buy in after the Dow hits 40k and corrects at 35k rather than buy at these prices in uncharted territory. As someone on average wage £30k, single and living in London (although WFH with parents up north atm) I'm going to find it hard to FIRE without investing. I'm not trying to time the market, I'm trying to invest in a 'normal/stable' time, what's happened in th last few months is unprecedented - although understandable after a crash. EDIT: I am looking at ETFs and index funds for a more diversified portfolio rather than picking individual stocks like I was in March. I know this is much safer.
Round up of Cryptocurrency News #7 Week 17/08 - 23/08
Heya everyone! Its been a little while, I'm still trying to get back into the groove of writing. Sorry about post#6, there will be a catch-up posted soon.
So... onto News recap #7! What have seen happen? First of all we have seen a pump from a bunch of altcoins: OMG, Cosmos, IOTA, NEO, THETA, ARAGON, SiaCoin, Golem, Swipe. As Ethereum fees remain high Omisego pumped over 130% in one day. It has now pulled back, watch the volume for further movement. Something interesting to me is a lot of these are projects from 2017.
Ethereum 2.0 upgrade is harder than first appeared, Vitalik says it will take much longer as they have a governance issue for the new blockchain.
Bitcoin and Ethereum have had slight adjustments in price potentially tightening up for another move (Hold above $11700 please!) Fingers crossed it is in the upward direction. They are currently in the red over the past few days however don't let that fool you as they are both up over 20% over the last 30 days. Also there was much excitement as Bitcoin rallied over 12K but was quickly beaten down back under. We can now be clear this is a resistance level and possibly a soon to be support level as the price has been steadily pushing back upwards toward 12k. In spite of this most crypto influencers are bearish and expecting a pull back.
News for the week: More awareness of cryptocurrency and purchasing by institutional traders, but do they have the iron hands to play the crypto market? We will have to wait and see, as for Dave Portnoy (who cares), he entered and left within a week. Blames Chainlink and Orchid as Chainlink dumps 20% on him in a day. "Ive bought the top many times" Portnoy doesn't understand the principles of the market as he also appears to think pump and dumps are encouraged within the cryptosphere. I'd keep an eye on him if he tries to push a cryptocurrency onto anyone.
Outside of the meme news, "Bitcoins perception is changing over time, its image as a money-laundering vehicle has subsided, with investors now taking a much keener interest in it. News story counts of potential money laundering were much more prevalent in 2013-14 but have since subsided, while counts of Bitcoin as an investment have become more of a focus."
Bitcoin's hashrate reaches record high of 130 exahash per second (EH/s). This is especially important after bitcoins halving, as miners have had to switch off and upgrade from old inefficient mining rigs, because when miners commit more computing power to process BTC transactions it helps to strengthen the network and secure it against 51% attacks!
Warren Buffet changes his mind on Gold, will Bitcoin be next on his mind? Buffetts company reveals it has dumped bank stocks (such as JP Morgan, Goldman Sachs) and taken a position in a gold miner. This could also be a cheeky indicator something is a bit fishy within the current US financial system and Buffett is looking to retain his wealth for rockier times to come.
Thanks for reading, this week it is very Bitcoin heavy as I am thinking a move is on the way for the top performing cryptocurrencies. Below I would recommend reading the important links and CBDC links. It shouldnt be more than 30 mins, and most of them you can skim through :)
DISCORD LINK: https://discord.gg/zxXXyuJ 🍕 Bring some virtual pizza to share 🍕 Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments! Big thanks to our Telegram and My Crypto HQ for the constant news updates! The Gravychain Collective: https://t.me/gravychain My Crypto HQ: https://t.me/My_Crypto_HQ Important Links:
With Bitcoin Suddenly Surging, Canaan Stock Is Also Going Up Today
It was in the year 2017, cryptocurrencies skyrocketed to the next level. But, the future of Cryptocurrency is still getting plenty of predictions every moment. People from different domains have started looking for these predictions. In December 2017, Bitcoin broke the trading charts by surging up to $20k, and became the most worthy cryptocurrency to the world. Even though Cryptocurrencies will impact the future — the regulations will keep getting tighter. Countries like United States, United Kingdom, Australia have accepted Cryptocurrencies. In future, there are chances that other countries will come forward and accept Cryptocurrencies. We are all hoping that countries like – Mexico, Thailand, and South Africa will take the necessary steps to make crypto legal and adopt the Blockchain. But, what do cryptocurrencies hold for us in the next decade? Here are the 10 fabulous predictions for the future of crypto’s. Everyone will start to use Cryptocurrencies — and they may not even be aware of it. Though it has been a decade since the arrival of Cryptocurrencies, there are people who aren’t aware of it. They make use of the traditional method of transactions to manage the money flow. In the future, businesses will start using Cryptocurrencies to pay for their services. With this, businesses will remove the middleman from various processes. And it will reduces costs and makes their services cheaper for the end user. All this will happen even when people aren’t aware of the cryptocurrencies. Bitcoins will hit $1 million. John McAfee has predicted a very bold thought about Bitcoin hitting $1 million by the end of 2020. He believes that, crypto currencies are the most trusted ones. Once the Bitcoin takes over the global economy, the demand will increase and the traditional dollars will no longer be needed. The owner of Snapchat, Jeremy Liew and Blockchain co-founder Peter Smith predicts that by 2030, the price will have reached $500.000. In the future, Bitcoin will act as Remittances for many people. Lack of knowledge can make the people buy Bitcoins as a safer mode of investment similar to Gold. With smartphone transactions, half of the world will march towards non-cash transactions by the year 2030. Cryptocurrencies will replace Fiat currencies. According to Draper, one of the Crypto Enthusiast has recorded his view on the same. He says Fiat currencies will disappear as people will start marching towards cryptocurrencies like Bitcoin, Ethereum, etc. The major reason for this adoption is people believe cryptocurrencies as the reliable storages of value across country borders and political aspects. If you consider the most popular cryptocurrency, Bitcoin, it has reached the top 30 currencies list by passing the $10.000 hallmark. Thus, most of the experts predict Cryptocurrencies are here to stay by being an alternative for Fiat Currencies. Moreover, it is said that the total lifespan of fiat currencies will be at a maximum of five years. Government Agencies will soon adopt Blockchain Technology. Countries with SEC Guidelines will start adopting Cryptocurrencies for their Governments. Currently, Government agencies are maintaining a separate database. Each agency is dependent on the other for its processes. This has been a tedious process nowadays. When Blockchain comes into the picture, the distributed ledger can provide effective data management to enhance the process and make it simplified. In the next ten years, we can expect powerful cryptocurrencies to rule the Governments and manage the cash flow in the country. Crypto enthusiasts predict Government agencies will soon start adopting this Decentralized systems for their processes. For example, the Estonian Government has already adopted Blockchain Technology called X-Road, which stores the complete credentials of all citizens. Future of Cryptocurrencies will integrate with Internet of Things. IoT is already here. When both these giants get combined, we can expect a fantastic future of technologies without any doubts. According to the recent report by IDC, it is expected that Blockchain Technology will join their hands with the Internet of Things soon. The primary motto of the integration is to render a highly scalable and secure framework for communication between IoT devices. Yet another thing is Cryptocurrencies have the stability to make micro-investments for smart devices in an efficient way. Cryptocurrency Exchanges Trading. The Trading enthusiasts in the crypto world are marching towards cryptocurrency exchanges for trading. In the near future, more cryptocurrencies will come into existence. With the growth in the price of cryptocurrencies, users will start trading with different currencies. As Bitcoin is the popular cryptocurrency till the date, Ripple will also emerge to be the next Bitcoin in the future years. Along with this, Ethereum, Litecoin, Stellar will start to uprise their prices. As the price starts rising, it will have a great impact on crypto exchanges and the crypto world. Banking and Financial industries will undergo disruption. Blockchain and Cryptocurrencies have a lot to do with Banking and Financial sectors. Banks will eventually accept cryptocurrencies to reduce their complexities. Here are a few things cryptocurrency will do: People will start opening Cryptocurrency Bank Accounts. Cryptocurrency Debit cards will become a normal thing. Instead of withdrawing money, one can buy Bitcoin and other cryptocurrencies directly from ATM’s. Banks will be ready to offer cryptocurrency loans to suitable candidates. Cryptocurrencies will make an instant process. Do you want to send money back to your parents living on the other side of the world? It will just require 5 seconds to send your $5000 to them with fewer transaction fees. You don’t need to wait for 3 days to fill their pockets. In addition to the fast transactions, Blockchain Technology will bring in the feature of downloading or file transfer within seconds. Blockchain copies of games, music, videos, books will be sent to your cryptocurrency wallets at a higher speed which would eliminate today’s file transfer services. New Cryptocurrencies will start emerging. Though Bitcoins, Ethereum, Litecoins are ruling the world for now as they are the first Blockchain products invented. Innovations don’t stop here! Most of the new cryptocurrencies will start emerging and the future lies with them. These cryptocurrencies will be far different from the present ones. Just imagine a cryptocurrency which can identify the individual’s reputation and lets you in investing in them! Great right? No wonder that we aren’t far away from it! Cryptocurrencies will still be volatile. Despite the measures to stop volatility, Cryptocurrencies will still implement the factors to eliminate it. The major factors for low volatility are regulation of the country and the markets. But when cryptocurrency trading emerges at its peak, cryptocurrencies would experience a deep feeling of relief.
Stellar The Biggest Cryptocurrency since Bitcoin? 1 year later!
Special consideration and appreciation to 87Crypto for all the research and investment into most of this article, this flashback was and is very much on point perfectly. My input and addition I believe will be the future of Stellar Lumens (XLM) and I don't think the bears can stop it.. With the works economy crashed because of the pandemic, countries are looking at making precious metal backed Cryptocurrencies.... Major banks are rushing to make the technology improvements to accommodate this change, and it is happening very rapidly.. To the world from REDDIT user 87Crypto: Stellar The Biggest Cryptocurrency since Bitcoin? Ok everyone, feel free to tell me I'm crazy and delusional on my idea of Stellar being the biggest Cryptocurrency since Bitcoin. In 2014, Nasdaq launched a separate company, Nasdaq private market which partnered with a San Francisco based Blockchain startup company called Chain to test Bitcoin technology. Part of this testing included digital transfers of money and other assets securely and nearly instantaneously which is something the current system is incapable of doing so seamlessly. Additional features included the transfer of securities directly between asset managers, to serve as a secure ledger for tracking assets across divisions of a large organization, enable a next-generation mobile banking solution, create a loyalty points system for a consortium of brandsto issue digital gift cards onto a network that can support multiple wallet vendors, create automated insurance contracts, and issue central bank currencies digitally to improve the payments system in any country. In October 15th, 2017 IBM chose the Stellar Blockchain to power the process of cross-border payments. This partnership was to significantly reduce transaction costs and increase transaction speeds whilst eliminating the inefficiencies and frustrations of the current cross-border payments system. January of 2018, Former Chain president, and Goldman Sachs Managing Director of technology and Business Development became the Head of Corporate Business Development for the Newly launched digital arm of Fidelity. Now this is getting more and more obvious as to what is going on. The same group of people are involved in all these financial institutions. On September 4th, 2018 IBM Debuted Blockchain World Wire (BWW). This platform was created to not only improve the cross-border payment system but to revolutionize the entire financial system. This ecosystem allows assets to be freely transported to any region of the world without the necessity to exchange currencies prior to doing so. Blockchain world wire utilizes the Stellar native token, the Lumen, as a form of exchange, as well as gas for low transaction fees. One of the brilliant aspects of BWW is the fact that the Lumen can be converted to as many as sixty currencies and according to Jed McCaleb even stocks can be transferred within the ecosystem. These currencies vary from the current fiat system, to cryptocurrency, 1:1-dollar ratio Stable coins and central bank digital cryptocurrencies. Just six days later, on September 10, Blockchain Start up and Nasdaq partner merges with Steller’s start up named Lightyear. This merger formed Interstellar to bring Chain's enterprise products of digital asset transfers, seamless tracking of these assets, as well as their customer base to the Stellar blockchain. On the other side of the IBM / Stellar partnership, IBM was working closely with The Official Monetary and Financial Institutions Forum (OMFIF) on central bank cryptocurrencies. The OMFIF is an independent think tank for central banking, economic policy, and public investment with a collective of investable assets equating to $36 trillion dollars which is equivalent to 45% of the worlds GDP. I don’t know about you but that gave me goosebumps. The magnitude of the Stellar blockchain is just unreal. We are talking about Stellar having the potential to take over not just the cross-border payments market but will also play a massive role in asset tokenization which would revolutionize Wall St. Itself. On October 13th, 2018 Stellar partnered with SEC approved Security token exchange platform Hyperion. This exchange is the first platform in north American for security tokens. This provides investors the ability to exchange digital security tokens using blockchain technology with significantly lower fees as well as more efficiently than the traditional stock market. In addition to that, Hyperion signed an MOU with Kinesis Money, a company offering a unique system solely on digital gold and silver currencies. This unique form of tokenizing gold and silver as a 1:1 allocation to those assets as a stable coin is just further proof that everything will be tokenized on the blockchain. Ok, there’s a few more things to discuss. This is what institutions are calling open banking. Open banking is a system where banks can use the open source Application Programming Interfaces (APIs) to allow 3rd party developers applications around financial institutions. A partner of IBM that is leading the way of open banking is HSBC. Due to this strong relationship it is very likely they will use the Stellar Blockchain to issue digital assets. Speaking of partnerships and 3rd party developers, let's discuss yet another huge part of the puzzle that is Stellar. On October 28th, 2018 the largest bank of the United states J.P Morgan financed a $34 billion-dollar loan to IBM for the acquisition of the world’s largest hybrid cloud provider, Red Hat. This purchase was purposely executed to become the #1 hybrid cloud provider in the world. Red hat fits the perfect description of the 3rd party required for HSBC to implement its Open banking and eventual issuance of digital currencies through the Stellar Blockchain. In case you were wondering why I made a point to mention J.P Morgan and their massive loan to IBM when I could have simply left them out, we'll circle back because it is important. On December 4th, 2018 we closed out the year with Fidelity and Nasdaq Ventures investing in cryptocurrency exchange Eris X. As Previously mentioned, Former president of blockchain start up Chain, Tom Jessup relocated to Fidelity which is a partner of Nasdaq in this cryptocurrency exchange Eris X. Tom Jessup was president of Chain during the time they partnered with Nasdaq. What I am pointing out is that all these top institutional companies are working together one way or another and it is clear as day something massive will be announced March 19th as I mentioned before. As we look back at all the moving parts, I can’t help but think that IBM and Stellar will revolutionize the stock market itself through all their partnerships directly or indirectly, more importantly due to Blockchain World Wire and its capabilities. This is truly incredible. But that's still not all just yet. J.P Morgan financing the $34 billion dollars to IBM was strategic. Well, what do you know, On February 14th of this very year, J.P Morgan launched their own US bank-backed cryptocurrency coin and as Jesse Lund, head of IBM Blockchain previously mentioned, Blockchain World Wire would allow up to 60 world currencies and even stable coins which is exactly why J. P. Morgan created their coin. All of this has led us to the Singapore Money 20/20 event of March 19th, 2019. All the pieces of the puzzle seem to be in place and I honestly can not find evidence to prove anything otherwise. Stellar has all the qualifications, attributes and partnerships to not only be one of the biggest cryptocurrencies in the world but to become the Blockchain of the financial world. Please give me your thoughts. From: 87Crypto May, 2019 Now 1 year later :Everything is in place, all currencies are at an all time low because of the worldwide pandemic last month... It is time, time to grow this machine! We need a Stellar Lumens based "ATM" program that runs on Debian. Something that can be dropped into almost all "ATM" platforms. This would give instant international bank transactions from any bank to any bank. It could use Stripe or BWW directly, because of the existing Stellar Commitments, and Charge it's own processing fees set by the ATM provider. Let's get this marketed to every ATM provider there is and push the market, this is the environment for bank integrations and will reduce ATM fees to the end user.. Even at $1 per average transaction that is an average savings of $1.50 per transaction from an average ATM... Banks will pay attention, then every user will see the message "Your transaction was proudly transferred to you with the Stellar Lumens (XLM) network, in coordination with BWW or Stripe, and" insert ATM COMPANY NAME "....This same environment would be used as the backbone of the merchant P.O.S. machines for credit card and debt transactions. Thank you for reading.. The most cryptocurrency ever lost, was not from investments it was from inoperable or unrecoverable wallets. Stay safe my friends.
Why Global Deflation May Not Be Bad News for Bitcoin
Contrary to expectations, bitcoin could see a positive performance during a possible bout of global deflation if it acts not just as an investment asset, but as a medium of exchange and a perceived safe haven like gold. The top cryptocurrency by market value is widely considered to be a hedge against inflation because its supply is capped at 21 million and its monetary policy is pre-programmed to cut the pace of supply expansion by 50 percent every four years. As such, one may consider any deflationary collapse as a price-bearish development for bitcoin. Talk of deflation began earlier this month after the U.S. reported massive job losses due to the coronavirus outbreak. The prospects of a deflationary collapse have strengthened with this week’s oil price crash. “The oil price rout will send a deflationary wave through the global economy,” tweeted popular macro analyst Holger Zschaepitz on Tuesday. Read more: First Mover: What the Oil Price Collapse Means for Bitcoin’s Halving Valuation Cash typically becomes king during deflation because the drop in the general price levels boosts the monetary unit’s purchasing power, or the ability to purchase goods and services. “Unlike inflation, when people try to get out of the dollar because it’s losing value, during deflation people are more comfortable with the dollar because its value is going up,” said Erick Pinos, ecosystem lead for the Americas at the public blockchain and distributed collaboration platform Ontology. The rush for cash, however, may not have a substantially negative impact on bitcoin’s price because deflation would also boost the purchasing power of the cryptocurrency. “While the price per coin may stagnate during a period of aggressive economic deflation, the inherent buying power of the currency will actually rise, possibly quite significantly,” said Brandon Mintz, CEO of the bitcoin ATM provider Bitcoin Depot. As time goes on and people become more comfortable with digital assets, the average person begins to see Bitcoin as a legitimate viable alternative to gold.** The uptick in the purchasing power will likely draw greater demand for bitcoin, as the cryptocurrency is already used as means of payment. “Hundreds of thousands of businesses, brands and merchants do accept the ‘digital gold’ as payment, and thousands more every day are realizing the benefits of diversifying their revenue stream and accepting bitcoin as payment for their goods and services,” said Derek Muhney, director of sales and marketing at Coinsource, the world’s leader in Bitcoin ATMs. Moreover, the cryptocurrency’s appeal as a medium of exchange is likely to continue strengthening with the growing prevalence of technology in consumers’ everyday lives caused by the coronavirus pandemic. ##Digital gold ## Ever since its inception, bitcoin has been dubbed “digital gold.” Like the yellow metal, the cryptocurrency is durable, fungible, divisible, recognizable and scarce. Both assets share features that fulfill Aristotle’s call for a currency to be practical and functional. Bitcoin has actual utility as the means of payment, which gold lacks, according to Coinsource’s Muhney. “As time goes on and people become more comfortable with digital assets, the average person begins to see Bitcoin as a legitimate viable alternative to gold. Thus, it’s reasonable to assume that during a period of deflation bitcoin would perform well like gold has in the past,” said Erick Pinos, America’s ecosystem lead at the public blockchain and distributed collaboration platform Ontology. Read more: Looking for a Safe Haven Digital Asset? Try Gold Hence, gold’s performance during the previous bouts of deflation could serve as a guide for bitcoin investors. Historical data shows gold performs well during deflation, which includes a sharp rise in financial stress and increased risk of corporate defaults; highly levered companies tend to go bust during deflation because their revenues fall while their debt service payments remain the same. Of course, gold’s shine is particularly bright during periods of inflation as well. As in periods of sizable deflation, inflation brings a set of price distortions that shake-up income statements and economies. A commonly-used measure of stress is the “Ted spread” or the difference between the three-month U.S. interbank rate and the three-month T-Bill rate. Ted SpreadSource: St. Louis Fed Research“Massive spikes in the Ted spread in the 1970s were accompanied by a sharp rise in gold. The Ted spread also rose sharply in the early 1980s; in 1987 in the wake of the stock market crash and during the global financial crisis of 2007-2009 – both also periods of stronger gold prices,” according to Oxford Economics’ research note. Gold’s performance in stress periodsSource: Oxford ResearchThe real or inflation-adjusted price of gold rose an average 33 percent per annum in the 1970s, 18 percent in 1980s and 15.8 percent in 2000. Underscoring all of the scenarios is that a sudden rise in economic stress usually fuels a global dash for cash, forcing investors to sell everything from stocks to gold. However, once economic uncertainty starts settling, people again start looking for safe havens. “During the Great Recession, while gold initially declined alongside other equities, it found its footing and rallied faster than stocks recovered,” Ontology’s Pinos told CoinDesk. The Ted spread spiked as high as 4.6 following the collapse of Lehman Brothers in August 2008. Gold fell from $920 to $680 per troy ounce in the August to October period, as investors treated the yellow metal as a source of liquidity, but still ended that year with 5.5 percent gains. More importantly, it rallied by 24 percent in 2009 and went on to hit a record high above $1,900 in 2011. Read more: First Mover: Bitcoin Jumps as Fed Assets Top $6.5T and Traders Focus on Halving The yellow metal’s recent price gyrations suggest history may be repeating itself. As the Ted spread rose from 0.11 to 1.42 in the four weeks to March 27, gold fell from $1,700 to $1,450 yet is now trading near $1,725 per ounce, having hit a 7-year high of $1,747 ten days ago. Bitcoin, too, was treated as a source of liquidity last month, as evidenced from the near 40 percent drop to levels under $4,000 seen on March 12. Since then, however, the cryptocurrency has risen by nearly 85 percent to $7,500. If gold’s historical data and the recent market activity is a guide, then the path of least resistance for bitcoin appears to be on the higher side. ##Unprecedented stimulus to undermine fiat currencies ## Both the U.S. government and the Federal Reserve have unleashed massive amounts of liquidity into the system over the past few weeks to contain the economic fallout from the coronavirus pandemic. Notably, the Fed is running an open-ended asset purchase program and its balance sheet has already risen to record highs above $6.5 trillion. Meanwhile, central banks from New Zealand to Canada have slashed rates to zero and have recently announced bond purchase programs. What’s more, the amount of fiscal stimulus announced by 22 countries in March is equivalent to 75 percent of the global gross domestic product (GDP), according to JPMorgan. However, most governments and central banks appear to have run out of ammo. Hence, if the coronavirus pandemic continues to spread or leads to corporate defaults, investors may lose trust in traditional finance and look for alternatives like bitcoin and cryptocurrencies in general. Moody’s Analytics recently warned of the heightened risk of corporate defaults in the oil and gas sector across the globe, and weakness in entertainment and leisure giving way to pressure on consumer durables. “The willingness to fight deflation should bode well for bitcoin,” said Richard Rosenblum, head of trading at GSR. Meanwhile, Ashish Singhal, CEO and founder of the cryptocurrency exchange Coinswitch.co, said, “In a deflationary scenario, the chances of negative interest rates are high, and users would want to move their existing assets into more stable assets like bitcoin to prevent loss in their asset value.” Interest rates are already set below zero across Europe and in Japan and are hovering at or near zero in other advanced countries. Further, with central banks willing to do whatever it takes to defeat deflation, the real yield or inflation-adjusted returns on bonds are likely to remain negative or meagerly positive at best. As a result, zero-yielding assets like gold and bitcoin may attract more buyers. Bank of America’s analysts noted earlier this week that the stimulus frenzy amid the coronavirus pandemic would put pressure on the currencies and send gold to $3,000 by October 2021. While bitcoin could perform well during deflation, bitcoin and cryptocurrencies have seldom tracked macro developments on a consistent basis in the past. “Blockchain-based currencies are really their own beasts,” said Bitcoin Depot CEO Brandon Mitz. DisclosureRead MoreThe leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source: https://thedailyblockchain.news/2020/05/24/why-global-deflation-may-not-be-bad-news-for-bitcoin/
Hi Bitcoiners! I’m back with the 27th monthly Bitcoin news recap. For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month. A recap of Bitcoin in March 2019 Adoption
IQ stock broker is a Forex & bitcoin Company in USA Founded in 2012 by a team of highly motivated professionals who are very passionate about trading on the world’s financial market, and are keen on empowering
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I think Go has come a great ways and is working which is nice, but I have one serious concern which I believe is grossly inhibiting adoption. It's the escrow/collateral requirements when listing.. It just doesn't seem to make sense to me from a usability standpoint, it's definitely highly secure in protecting investors, but I think it will prevent nearly everyone from listing an asset. I want to list a Bitcoin ATM that costs about $8,000 give or take, plus the cash needed to deposit for it to function. Say $5,000 to start so I don't have to go refill it many times per day. Under the current method I have to put down a minimum of 100%, sometimes it is closer to 200% and for this I assume it is more like 200% bc I deal with cash which is quite risky for investors. So if I have to put down somewhere between $13,000 to $26,000 just to list it, assuming I have that kind of capital to spare, why would I even bother to list it when I could just go out on my own and purchase 1 or even 2 ATMs tomorrow and keep all of the profit for myself? Especially bc no one shares any risk with me. The only way I can get my collateral back is if the asset generates revenue. So if it doesn't generate anything I lose access to my full collateral, whereas if I just purchased it myself and it wasn't working out I could easily just resell it for a 25-50% loss and still walk away with atleast half of my investment. The platform is insanely safe for investors, but I'm worried that it requires so much safety with the collateral requirements that it will prevent anyone from listing an asset. I think this is a really serious issue we need to brainstorm and address. A third-party reputation system is the obvious solution for me, but I am unaware of any that can plug into smart contracts. ideally, we want someone new to the platform to be able to jump right in and list any asset. If we have our own, closed reputation system specific to Go, it still involves them slowly listing small assets and building up a Go-specific reputation. If they already had a reputation from numerous other dApps, etc. then they could jump right in with an existing reputation. I'm really at a loss at what else to recommend for this and would love for some thinking and ideas from others on to how to solve this.
this company almost got me this morning. Gave me a 10 minute phone interview and then offered me a position. Heres the website websitehttps://algox-messenger.com/ if you click on the team members on the website it goes to their linked in. None of the team members mention algox on their linked in) Here’s the email: For the first training month you will be working from your location with future option to continue working from home or help company open a branch in your city. Our main task is to enter the US market having excellent administrative assistant specialists for the research, support and test work. Here is some more information on key tasks and goals. Algox wants to resolve two main tasks at the beginning:
We would like you to research US based exchanges and bitcoin atm network that make crypto currency operations as well as global exchanges that work on the territory of the US. We have a web site and after the research
work we will try to integrate those exchanges and methods in order to make investment in our tokens faster, cheaper and more secure. Your role will be the research and testing work on those exchanges under supervision of Algox LLC. There are a lot of interesting systems like CashApp, Venmo, localbitcoins, Kraken, bitcoin atm network etc. We need to discover them and compare operations so that company's clients can use them easily and have proper support from you. We also want specialist to work on administrative tasks and Internet marketing tasks. Company's specialists will help and teach you on them.
You will assist existing investors who want to invest in our company, consult them on how to exchange funds into bitcoins and other crypto currency, advice on different exchange methods. In order to learn how to do these
tasks you will have one month training to go through each method and learn how to do each type of the exchange. You will receive your salary and bonuses during training period. Our US clients and followers are happy with local (domestic) investments (while international transfers take a lot of time and are expensive) and we want to help them invest in our project in a best possible way. So we want to test a number of the ways of sending and exchanging funds into crypto currency within the US: Zelle transfers, CashApp, Venmo, wire transfer, ACH, Quick pay, etc. We believe that some of them will be integrated in our messenger. Your tasks will be helping investors, assisting them, finding the fastest and cheapest ways of the exchange (saving investors' and company's funds and time). You will receive test transfers from Algox LLC during training period to become an expert in this field. You will exchange and transfer them to the company using different methods. You will then create reports on each method we test. Depending on these reports we will be able to decide which payment methods should be integrated into our system in the near future and become primary. Algox Messenger tokens will be listed on major exchanges by the end of this year and we need you to be a specialist by that time. You will have full training and assistance from our team and they will help you to start and understand all the tasks. Training period will last for 1 month and you will be fully paid with base salary and bonuses during this period. We can start working on administrative, payments testing and research tasks immediately. Please let me know your schedule and availability during the day and week. If the above is fully acceptable and you are ready to become a part of a successful, friendly and ambitious company then welcome to Algox family. We will move to the interview (we will need your phone number and your avilable hours along with time zone to better reach you), application form and the contract. Look forward to your fast reply.
WSB101 - THE BOOK OF YOLO: BEGINNERS GUIDE TO TRADING LIKE A DEGENERATE AND EVERYTHING WSB
The Book of Yolo: COMPLETE GUIDE TO WSB The goal of this is to actually create something that all of you WSB newbies can read - because we’re all tired of seeing the endless wave of uninformed and unavoidable stupidity from those who have never touched the stock market. CALLING ALL NEWFAGS AND NORMIES. If you can’t read, GFY now. Now that we will be on the popular section of reddit, this has become pertinent. WSB can't avoid newcomers, so we might as well explain how the clock ticks here. This one is for you all. This is to serve as a reference what values we hold, what instruments we use, and as a general place to educated the uneducated. First off, this is the LEAST helpful stock market-based community for newcomers. Sarcastic answers are the only thing of true value here. It isn't a place to learn, but a place to plan out where you will dock your yacht. Newcomers are usually berated upon asking the inevitable stupid questions that they could learn slowly from reading here, or just using a damn search engine. Instead of embarrassing yourself here, you now have the opportunity to read this and get what we’re all rambling about. This will help you understand what to expect if you make the decision to undertake a WSB style trading career, so you can stay here and contribute to the yolo lifestyle or otherwise GFY. I will edit in any suggestions that our frequenting users or mods want to add to this as well. To begin: Here are our topics for WSB101 -Basics (Equities/Stocks) ; -ETF's ; -Options ; -Futures Trading ; -SubCulture ; BASICS/EQUTIES Skip if you understand basic stock stuff Okay, so what is an equity/stock? An equity is essentially what you’d think of as your “vanilla” trading tool. They move up or down depending on market forces, and can range from pennies to thousands of dollars per share. To explain how stocks work, let's define a few terms. Volume: The number of shares of stock traded during a particular time period, normally measured in average daily trading volume. Spread: The difference between the bid and the ask price Bid Price: The current price in which someone wants to buy at Ask Price:The current price in which someone wants to sell at Volatility: The WSB favorite. Volatility is referring to the price movements of a stock as a whole. The higher the volatility, the more the stock is moving up or down. Highly volatile stocks are ones with extreme daily up and down movements and wide intraday trading ranges. Margin: A margin account lets a person borrow money (take out a loan essentially) from a broker to purchase an investment. The difference between the amount of the loan, and the price of the securities, is called the margin. Margin is one of WSB’s popular instruments of wealth and destruction. Dividend: This is a portion of a company’s earnings that is paid to shareholders, or people that own hat company’s stock, on a quarterly or annual basis. Not all companies do this. PPS: Acronym for “Price per Share” Moving Average: A stock’s average price-per-share during a specific period of time. Bullish: Expecting the stock to go up Bearish: Expecting the stock to go down Any raised hands can redirect themselves to here: http://www.investopedia.com/articles/investing/082614/how-stock-market-works.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186 Now that these terms are defined, let's move into the details of why this is even useful. Most people know what a stock is, but how and why stocks move is a different story. The stock market is essentially a big virtualization of supply and demand - meaning that usually high positive volume creates upwards movement in the PPS, where high negative volume does the opposite. This creates a trader’s opportunity; Generally, the most effective time to buy or sell is where the candlesticks (volume data) are thinning out. When you are ready to take an entry point or execute an exit point, waiting till the volatility (candlesticks) thin out is one method to give you best trade possible. WSB FAVORITE EQUITIES: Of many equities, WSB favors the riskier ones - but avoiding penny stocks is a policy. AMD - CEO Lisa Su, Next Gen Processors, chips, graphics. It’s the gamers gambit. Up roughly 1400% as of 2/7/2017 since WSB first mentioned it NVDA - AMD’s sister? Mother? Daddy? Who knows. NVDA has been a sexy semiconductor leader. Is up 400% since gaining traction on WSB. FNMA / pfds - Mnunchin, Trump, Big fat fannies. Get your self deep in the fannie. We all want it. WSB 10 bagger candidate for reforming the housing market. WSB holds a large cumulative position that can be seen below. Also a good read is the beginners guide to FNMA. Any post by u/NOVACPA is very often VERY informative on FMNA/pfds. https://www.reddit.com/wallstreetbets/comments/5oissp/results_wsb_fnmafmcc_holdings https://www.reddit.com/wallstreetbets/comments/5t7gba/beginngers_guide_to_fnma_fmcc_read_this_before/ ARRY - A biotech champion that prevailed after a lot of failures and huge losses in the biotech sector. Dark times for WSB. Up ~300% since getting traction on the subreddit. TWTR - WSB likes to buy put option contracts on her. Exemplary of a social media platform that is unable to monetize itself. TSLA - Maybe not unanimously a favorite, but loved for it’s sexy volatility, Elon Musk, and ridiculously expensive options. GILD - A Shkreli pump and dump? The greatest large cap pharma recovery of all time? Who knows. Martin took the time to make a post on this reddit and it is up $5 dollars since. ETF'S Welcome to the world of investing made easy. Exchange traded funds (etfs) are devices that can be traded like stocks, but often track the value of many companies by investing in their listed assets accordingly. Specifically, An ETF, or exchange traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange. ETFs experience price changes throughout the day as they are bought and sold. ETFs typically have higher daily liquidity and lower fees than mutual fund shares, making them an attractive alternative for individual investors. ETF’s come in beautiful and delicious varieties, often with a BEAR form and a BULL form of each; but the most delicious to WSB are the 3x etf’s. A 3x ETF is one in which the underlying movement of the ETF is leveraged 3:1. Meaning for every movement within the underlying index or stocks, the 3x ETF moves well.... 3x as much.. WSB FAVORITE AND USEFUL ETF’S: JNUG - 3x Gold Miner Bull - A hit or miss, has extreme intraday movements and essentially tracks GDX (gold miner’s index). Jnug will usually move with a pretty strong correlation to gold, which is affected by the mentioning of rate hikes (negatively), movement of the US dollar (inversely), uncertainty (positively), and supply and demand. NUGT - Jnug with a different price tag JDST - The inverse 3x etf of JNUG - or the bear etf. It does almost exactly the opposite movements of JNUG by the tick. Moves for the same reasons, but obviously opposite directions. DUST - Jdst with a different price tag. UGAZ - Natural Gas 3x Bull ETF - essentially tracks the price value of the commodity Natural Gas, but more specifically the S&P GSCI Natural Gas Index ER. The index comprises futures contracts on a single commodity and is calculated according to the methodology of the S&P GSCI Index. Natural gas is most affected by Weather temperature conditions (use your brain), petroleum prices, and broader economic conditions. DGAZ - Inverse of UGAZ UWT - Crude Oil Bull 3x ETF - extreme intraday movements, closely follows the price of oil. More specifically, it tracks futures. UWT seeks to replicate, net of expenses, three times of the S&P GSCI® Crude Oil Index ER. The index tracks a hypothetical position in the nearest-to-expiration NYMEX light sweet crude oil futures contract, which is rolled each month into the futures contract expiring in the next month. The value of the index fluctuates with changes in the price of the relevant NYMEX light sweet crude oil futures contracts. DWT - Inverse of UWT FAS - Financial Bull, specifically FAS seeks daily investment results, before fees and expenses, of 300% of the performance of the Russell 1000 ® Financial Services Index. The fund creates long positions by investing at least 80% of its assets in the securities that comprise the Russell 1000 ® Financial Services Index and/or financial instruments that provide leveraged and unleveraged exposure to the index. Can be used when bullish on US financial services - so banks, lenders, etc. FAZ - Inverse of FAS UPRO - S&P500 Bull 3x ETF, essentially tracks the S&P500 and multiplies it’s returns by 3x. BRZU - Tracks Brazil (in its most basic form). It creates long positions in the MSCI Brazil 25/50 Index. LABU - Tracks the Biotech sector, or specifically 300% of the performance of the S&P Biotechnology Select Industry Index ("index"). It should be noted that LABU has doubled since just before the election of Donald Trump. LABD - Inverse of LABU RUSL - roughly creates 300% of the performance of the MVIS Russia Index. RUSS - Inverse of RUSL SPY - Tracks the S&P500, but is not 3x. OPTIONS: Alright, so half you are going to understand this, and half of you are not. Pull up an options chain now on any stock (penny stocks and specific stocks do not have chains because of their market cap). Options are truly the ultimate way to achieve maximum risk/reward. An option is a contract that gives the buyer the right to buy or sell 100 shares of a stock at a certain price, on a certain date. This concept makes options a commodity themselves. KEY TERMS: A CALL - is the right to buy. Buying calls is taking a bullish position in its most extreme form. A PUT - is the right to sell. The underlying - is the stock that the option is covering i.e. AAPL, GOOG, AMZN Strike Price - the price at which a put or call option can be exercised. ITM, In the money - In the money means that a call option's strike price is below the market price of the underlying asset or that the strike price of a put option is above the market price of the underlying asset. Being in the money does not mean you will profit, it just means the option is worth exercising. OTM, Out of the money - a call option with a strike price that is higher than the market price of the underlying asset, or a put option with a strike price that is lower than the market price of the underlying asset. ATM - At the money - Strike price at the same price as the underlying Expiration - Expiries for options are every friday of every week usually, with exceptions such as every month, or every other day - depending on the underlying. SPY and SPX are great examples of very active option chains with expiries every other day. On the expiry date or any time before (with american options), an option can be, but doesn’t have to be exercised, meaning the holder of the option can use it to buy or sell shares of the underlying stock at the strike price. Most people on WSB do not exercise the contracts, but merely flip them for increases in value as the underlying moves. For example, when AAPL was at 120 before its earnings report, Joe Shmoe Yolo buys 10 FEB 17th CALLS at strike 127 for .60 , each. Now .60 cents is really 60 dollars each, because the contract is multiplied by 100 (the right to 100 shares). In total, Joe Shmoe Yolo spends $600 dollars + commision on this trade. The next day, AAPL leaps to 130 upon great news. These same option contracts are now worth 3.50 each. $350 dollars per contract, times ten contracts is $3500 dollars. Joe Shmoe Yolo just turned $600 into $3500 dollars. MAGIC. Spoiler alert: Joe Shmoe Yolo was me. That same Joe Shmoe later buys FEB 17th XOM calls at 90, hoping for similar results. However, XOM ends up never reaching anywhere close to the strike price, and the options expire worthless. Get it? Now what determines the pricing of options? OPTION PRICING: Below is sourced from investopedia Intrinsic Value: The intrinsic value is the actual value of a company or an asset based on an underlying perception of its true value including all aspects of the business, in terms of both tangible and intangible factors. This value may or may not be the same as the current market value. Additionally, intrinsic value is primarily used in options pricing to indicate the amount an option is in the money. Time Value: Time Value = Option Price - Intrinsic Value. The more time an option has until it expires, the greater the chance it will end up in the money. The time component of an option decays exponentially. The actual derivation of the time value of an option is a fairly complex equation. As a general rule, an option will lose one-third of its value during the first half of its life and two-thirds during the second half of its life. This is an important concept for securities investors because the closer you get to expiration, the more of a move in the underlying security is needed to impact the price of the option. Time value is basically the risk premium that the option seller requires to provide the option buyer the right to buy/sell the stock up to the date the option expires. It is like an insurance premium of the option; the higher the risk, the higher the cost to buy the option. Makes sense, right? Time value is determined by the expiration date. An expiration date in derivatives is the last day that an options contract is valid. When investors buy options, the contracts gives them the right but not the obligation, to buy or sell the assets at a predetermined price, called a strike price, within a given time period, which is on or before the expiration date. If an investor chooses not to exercise that right, the option expires and becomes worthless, and the investor loses the money paid to buy it. Volatility: In an options pricing, you see IV. This stands for implied volatility. The higher that is, the higher the options will be priced Volatility is the extent to which the return of the underlying asset will fluctuate between now and the option's expiration. Volatility, as expressed as a percentage coefficient within option-pricing formulas, arises from daily trading activities. How volatility is measured will affect the value of the coefficient used. Decaying Nature of Options: Decay refers to derivative trading (i.e. options). When you sell or buy a call/put (using those two for simplicity purposes) you don't get an infinite time frame to make your dreams come true. Time is your enemy; the further out the expiration date, the less time decay there is. Time decay really hits the worst the week of expiration. Sound confusing? Say you're buying options of the stock WSB (I hope you're seeing what I did there) - and the option costs $1, the expiration is this Friday. Say today is Monday. You buy a call expecting WSB to take you to the moon and beyond. Each day the stock doesn't move closer to your strike price or remains stagnant/drops, you lose value on your option + the time decay. Meaning if it finishes closer to your strike price, your option could be worthless because of that time decay. Questions? Ask away. A great example of these factors in action is TSLA. TSLA’s options are among the most expensive for companies in its price range, why? An in the money TSLA call expiring this week is worth around $1100 per contract. Insanely expensive. But for a reason. TSLA has extreme intraday movements and calls have an implied volatility of 40.92%. Which is fairly high. In addition to that, it holds high intrinsic value / price per share, and a week of time value. -Futures 101 - The Ultimate YOLO Guide (thanks to u/IncendiaryGames) Okay, a lot of you have been YOLOing on faggot delights on SPY options. How would you like to trade something with the same or more leverage, 1.0 delta, and no time premium costs? Have you considered futures? What are futures? Unlike options, futures is a contract where both the buyer and seller is obligated to perform the transaction by the expiration. Conversely, in options, only the seller is obligated to perform. That means you can lose more than your investment. Originally they were used by farmers to sell future crops early and guarantee some amount of sales. Since then futures have expanded not just to commodities but currency and equity indices like the S&P 500. Why the heck would I want to trade futures? Here are the advantages: Leverage $5k is the margin requirement for most contracts. For example with the E-mini S&P 500 with 5k you're trading $120k worth of stuff. 1 contract = 500 spy shares. Some brokers offer intraday daytrading margin rates too - TD Ameritrade is 25% of the overnight margin rate($1,250.) Some brokers go as low as $500 an /ES future. SPAN Margin If 24x overnight leverage and 240x day trade leverage didn't give you a hard on there is also SPAN margin, which is like portfolio margin on steroids. The beauty of SPAN margin is you don't need a $125k+ account to be eligible. SPAN will greatly reduce your margin requirements if you hold uncorrelated or inversely correlated positions (up to an 80% discount, here is a list of groups that give discounts) and if you hedge with options. Hedge with the right option or asset and now you have up to 500x day trading margin. 23/7 and day trading Ever get in and out of an equity only to have your broker yell at you to stop doing that or deposit $25k? There is no pattern day trading restrictions on futures. Feel free to day trade and blow up your account as often as you want! You can also trade 23 hours a day. Get trading on how the S&P 500 index will react to news from China right away. Taxes No matter how long or how short you hold you always get taxed under the 60/40 rule. 60% of your profit from futures will be taxed as a long term gain and 40% will be taxed as short term gain. No wash sales. Trade your hearts out. Just remember holding past Dec 31st will treat you as if you closed all your positions that day and you'll be taxed on unrealized gains. Long/Short No need to pay interest or borrow shares as being short a future contract is being a writer, just like an options writer. Options Of course there are options. What fun would it be without options? Unlike stock options each contract gives different number of future contracts. Research what you're trading. Ok. I'm convinced. I want to strat trading futures! What are some good strategies? YOLO Strategies Swing trading Trying to guess/predict/ride sudden market momentum. A low volume average day in the S&P 500 (/ES) for one contract can swing +- $500. Get it right and you can see a huge appreciation of value. /ES is usually highly liquid during regular hours with average volume of 1 million trades and usually bid-ask spreads of one tick. One approach is to buy or short in your direction and put in a stop loss to an amount you're comfortable to lose (say $200.) Since it's so liquid you'll likely be filled at or near your stop loss during the day if your trade goes against you. If you can guess the direction 50% of the time and have trades like this: trade 1 - gain $800 trade 2 - lose $200 Then you may profit over the time period. If you have a 50% chance of being wrong and losing $200 or 50% chance of being right and gaining $800 then over time you'll gain more than you lose. Also, since the present value of your futures contract is included in your margin calculation then if it goes strongly in your favor your position can quickly grow to cover its own margin and you can let it ride for a while. You'll want to be sure you enter a combo buy/short order along with a stop loss order simultaneously, like this for Thinkorswim. Futures can move suddenly and a sudden movement can make you lose a ton of money. Exploiting outdated SPAN margin guidelines There are several out of date correlations between popular futures like oil and say things like wheat that SPAN gives you margin credits on. Take whatever position you want in oil (/cl) then take the opposite in something that doesn't move much day to day with less volatility such as /w (wheat)) and your /cl and /w positions will get a 75% credit, giving you 50% more buying power on crude oil. (2 positions * .25 = 0.5). Trade your heart out on the more volatile future then when you're done close your safer future pair. SPAN is constantly changing but such a complex system definitely has its exploits. Automated/algorithmic trading For you programmer geeks out there it's really hard to algorithmic trade on small accounts due to pattern day trading rules and economies of scale with broker fees. Futures is probably the best way to get your feet wet. Join us on /algotrading if you want to explore more! Boring safer strategies I'm including these for completeness but these belong on /investing. Scalping With high frequency trading scalping is less guaranteed. Basically scalping is using tiny momentum as usually there are small micro patterns in futures buying and selling activity where it will rise or fall a couple of ticks. Since the notional value of each tick is $12.5 it's profitable for retail investors and small accounts to act as a market maker after fees at the smallest bid-ask spread possible. Spreads Just like you can trade spreads in options, you can trade calendar spreads in futures. Futures have contracts with different expiration dates and the prices are different for each month of expiration based on the market's expectations. You can go long or short the near month expiration and the opposite for the far month. This will hedge out any sudden market moves as that would likely affect both months. Bull markets in general tend to increase the price of the near month faster than the far month. Basically with a spread trade you're making a long term bet on bull or bear for the underlying future. Pairs trading You can go long in one future say the dow jones (/ym) and short the S&P 500 index and profit off the relative growth. This is a hedged trade as any market ups or downs will likely affect both positions with the same % value. For the past 180 days /ym - /es has been really profitable. Even if you don't do a full perfect pairs trade it is still a great option to reduce the leverage too on whatever index future you're trading so you can stay in longer or overnight. Interest rate and optimal leverage plays Since the $5k investment is equal to $120k of the S&P 500 index currently then you'll likely beat out the market by buying one future contract and putting $115k in safe treasuries or bonds or uncorrelated assets. Some people choose to leverage their stock portfolio and you can get the exact leverage ratio of liquid investments to future ratios. In probability theory the max leverage you can gain is determined by the Kelly Criterion which modeling shows indicates the S&P 500 index to be leveraged to 1.40x. Yes, you could do the same with options but even on SPY deep in the money call leaps are illiquid and have a time premium. Even today they are so deep ITM that the options you would need to use have 0 open interest and a bid-ask spread of $5 per share (so $500 per contract.) You'd need ~5 contracts per 120k so you're already eating $2.5k/$120k - 2% interest rate a year for that leverage. SPX isn't better, it's bid ask is 22 so you'd be eating $2.2k/$120k - 1.83% interest rate. It's doubtful you won't get much past the ask as its only market makers providing liquidity and guess what the market maker will do if you buy/sell the option? They will hedge with the underlying futures until their minimum profit is the risk free interest rate. Hedging Going long and short in various non correlated or negatively correlated assets to seek out a high sharpe ratio and have a higher risk free return that is market neutral. Basic hedge fund stuff. The variety and price efficiency of futures makes things pretty attractive in this area. SUBCULTURE Wallstreetbets is a community that has become infamous for the most wild west, moon or cardboard box trades on the planet earth. WSB is a place where you can take out thousand dollar loans, refinance your homes, cash advance all of your credit cards only to put it all on JNUG, and we will still love you. Your mother won't. Your father will never understand your spectrum of autism, but we will always love you. It is a uniquely beautiful community focused on praising its biggest losers as much as its biggest winners. To begin on the subculture, we should define some key moments in the sub's history. HISTORY: (As made by u/digadiga) + my additions 2012: Jartek [+1] creates /wallstreetbets, and word slowly starts to ooze out. 2013: americanpegasus discovers pennies. AP has seen the light, and is a penny stock evangelist. Jartek & AP have an epic options vs pennies battle - they both lose a couple of hundred bucks, but we are entertained, and WSB is officially born. AP blows up his retirement, swears off pennies and moves onto bitcoins. 2014: fscomeau [+3] discovers options. He repeatedly bets five figures on AAPL calls before earnings. FS claims a supernatural clairvoyance of AAPL. FS then posts about his chest pains and ER visits. He finally suffers an epic loss. Is he dead? Is he alive? Is he is mother? Is he banned? Who cares? 2015: Photos from the 3rd annual meetup are posted. Where a bunch of dudes hang out on the romantic beaches of Guerrero Mexico. In a completely unrelated event, the wsb banner is changed to thousands of ejaculating dicks. Modpocalypse occurs. Hundreds of random users are added as moderators for a few months. None of the new mods can change the CSS. The constant whining about how "wsb isn't what it used to be" continues. Someone attempts to show how selling covered calls is idiot proof, but gets lazy, bets all six figures on Apple, and suffers significant losses. Robinhood gets popular. Should you buy one share of AMZN or one share of GOOGL? Who gives a fuck. 2016: Everyone starts saying "go fuck yourself." Except me. Because I am what I am. And if you don't like it, you can all go fuck yourselves. u/World_Chaos performs one of the more impressive yolo's of the sub, starting with 900 dollars, and turning it into 55k. https://www.reddit.com/wallstreetbets/comments/414blh/yofuckinglo_900_to_55k_in_12_days/?ref=share&ref_source=link 2017: u/fscomeau preforms what he calls "The Final Yolo", a 300k trade against AAPL before earnings (that I, u/thor303456 inversed), supposedly supposed to net fscomeau 2.5 million or so, in which he will finally stop trading. FSC is featured on several market related articles and newspapers, showing up on yahoo, etc. Later we find proof during his livestream of AAPL earnings that he was paper trading. Even later, FSC writes a near 200 page book called "Wolfie Has Fallen" describing how he trolled the entire internet, some following him into that AAPL trade. Martin Shkreli visits the sub and proclaims that GILD pharma is worth over $100 a share and is deeply undervalued. KEY FIGURES: Donald J Trump - He is the Marmalade Manchurian, the Tangerine Tycoon, and our spray tan Stalin. Unbelievable night of election. WSB demographics show a primarily capitalist and right wing (or at least joking to be so) point of view, and thus we are generally pro trump. In actuality though, WSB is focused on pro-market, which Trump happens to be. u/Jartek - Founder of the sub, original yoloer. Believe he has retired from reddit for the most part. Mostly inactive. u/Fscomeau - The Canadian as some call him, and perhaps one of the most profound internet trolls of 2016-2017. A French-Canadian trader who deals with mostly options. The man has been called "The Great Inverse", and for a good reason. Nearly all of the trades or statements he made on WSB were completely wrong or mostly wrong. Truly the strongest technical indicator. Martin Shkreli - An idol to many WSBers, Martin stands as the master of the biotech sector. A very debated character for very stupid reasons. Martin regularly tweets about the stock market, occasionally does a youtube channel, and livestreams fairly regularly. u/theycallme1 - Educated trader, and mod of WSB. Roasts people often and roasts them good. Ask him the questions that aren't stupid. One of the most active mods. u/world_chaos - some fucking college student with some real net worth. Sits on 100k or so (needs verification), and was an inspiring yoloer to all, with his 900 to 55k yolo with options. Lingo, Terminology, and Nomenclature: The Faggots Delights - Truly the most suicidal, yet clearest shot to the moon. This term is usually used to define either weekly, or daily option plays on the SPY/SPX. Some users trade them very profitably, such as u/MRPguy and many in the past. Cuck - Truly the worst thing you could be. A cuck is a man who likes watching his wife/girlfriend fuck other guys. Weak, spineless, and a term often throw around here. The YOLO - You only live once. This is something that is, and should be realized as undeniably true. Why are you sitting on a 5k emergency fund that is making you less interest in a year than what I just made in 10 minutes? Why haven't you used all of the credit on your 5 credit cards or used your testicles as collateral for a loan yet? YOLO or YOLOING is as much a psychological decision to embrace absurdism, and win with everything you have while risking it all. Yolo is what it means to be a WSB trader. Bagholding or a Bagholder - When you're stuck with the most ass trade of your life, because you know it'll go back up. A bagholder is the 59 year old guy at the grocery store who won't quit his Job because he knows he only has to wait another year until he gets a return on his investment (of his life). Anyone holding SUNEQ is the definition of a bagholder. Autists - Something we embrace, something we call each other, something we all are. Autism isn't used in an offensive way as much as it is a generally accepted term that defines us. The best traders have autism because of their distance from emotion. I bet you never made it to this part of the reading because you're such a damn autist. Tendies - Tendies are what you get after you make a small amount of money. "I SOLD AMD TODAY FOR A $13 DOLLAR PROFIT, GOING TO MCD's TO GET MY TENDIES". Tendie money is usually shameful and insignificant, but at least it got you tendies. Chicken tenders at McDonalds are the least expensive for the most cholesterol. I know some of the writing was half ass, full of errors, or otherwise not the best explanation. But I believe this will serve its purpose, and maybe help to promote new ideas from moderately educated traders. WSB has very strong traders, and the most uniquely risky trading styles on the planet. Hopefully this can serve to better the overall community. You guys are all faggots, upvote this so we can get the noobs to stop trying to bite on our cocks. Also I'd really appreciate input on anything to add to this overall. It took my over 3 hours to write up, so I eventually grew tired and probably have missing spots. Enjoy your time here at WSB. EDIT: Added a shit ton of stuff, fixed errors. THANKS FOR ALL OF YOUR INPUT, ACTUALLY MAKING WSB GREAT AGAIN MODS: Can we make this editable by others mods or something? My fingers aren't enough. Seems like this could serve as a good "official" thing. Paging u/theycallme1u/CHAINSAW_VASECTOMY etc
Reminder: Never keep more in a bank (or with a broker or any third party) than you're willing to lose
Consider this your final warning. The global financial system is royally screwed. The ledgers are all messed up, and companies have borrowed WAAAAY too much money. If you thought bad mortgages hurt in 2008, just wait until garbage debt tanks a company near you. Maybe even a big one. Think your pension or 401(k) is safe? Think again. All types of retirement funding schemes are borked. Think your bank account is safe? Think again. In 2016, Deutsche Bank had $45 trillion (with a "T") in derivatives exposure. How much do you think they have now? Bank ledgers are borked. Symptoms of this have shown recently in the numerous glitches in banking networks. Too many to mention, but here's a rundown Oh, but the government will bail you out when your bank goes under, right? Sure. After a year or two of paperwork. In the meantime, your ATM and credit cards will only be good for scraping crumbs out from between the sofa cushions. 2008 happened and was swept under the rug. Instead of treating the root cause of the illness (ie, too much insane side betting [derivatives] on fake money [bad loans]), they made it worse by creating even more fake money in the form of corporate loans that companies then used for stock buybacks, leading to the about-to-pop bubble in the stock markets. You know what will still work and whose value will truly become known when all this mayhem ensues? Bitcoin. I hope everyone has at least a little. It's your best protection. Share this article and spread the word, and get ready to help out the sheeple who are still sleeping and have refused to hedge their traditional portfolios with at least a few hundred bucks worth of Bitcoin. Help those people out when the shit goes down. Be nice. Remember the Pineapple Fund? We Bitcoin hodlers are all going to have to be that kind and wise and generous in our own little ways when the crisis hits. By the way, exchanges are third parties. Send your coins to cold storage as soon as possible after acquiring. There will be another Gox at some point, some exchange whose bot followed the derivatives traders on BitMex around like little puppy dogs and ended up selling too much BTC too cheap. Last warning, at least from me. This charade in the traditional markets will continue for six more months at most, but the crisis could hit any day. That "Lehman Brothers" moment is coming, and this time will be much worse.
People need to realize, that at the current (and still raising) popularity of Bitcoin, bigger blocks wouldn't help much if at all. The thing is, it is very easy to fill blocks. If blocks aren't consistently full, users can effectively set fees to as low as they want and miners will include them anyway. Maybe there's going to be some delay, maybe not. Nice and dandy, but it doesn't work for long. It worked for BTC because the number of users was tiny. And it will work for altcoins, as long as they are tiny. But as soon as a given altcoin gets popular enough to be even remotely significant, it will hit the same wall. As soon as there is more demand than room on the blockchain, some transactions will be left-over and start piling up: the mempool will keep raising until some people are priced out. Some users will say: "well, that's too much, I'm not going to do that test transaction" or "I'm going to use an altcoin for this". There is a "cut-off cliff of pain". I estimate that this pain-price point to be around $10-$20 and kind-of fixed. Exactly between "too expensive for paying for any coffee" and "super-cheap way to make international wires". Where rich users are fine paying, but smaller users have been cut-off. Bitcoin got there already. That's why it's nearing $20k/BTC. That's what many of you wanted, right? Tip for people with small amounts stuck: get your wallets ready and maybe, if you're lucky, there will another time when network will calm-down a bit (around new year maybe? or maybe when Coinbase finally start supporting SegWit, etc) and either: consolidate all your small outputs into one bigger TXO (segwit one!), or send to an exchange during that time so at least you can sell it. Just three weeks ago we had a period of 2-5sat/B transaction clearing out. Anyway, there is no other way. We can't have billions of people on-chain. If we had 8MB blocks, we would still fill them up, until some people wouldn't be able to compete with the fees. Maybe we would buy ourselves a month or two. Also: I've heard many people complain that using the coins is most important, and better for Bitcoin than holding it. It's absolute rubbish. The value of Bitcoin is set by how many people are willing to HODL it at a given price-point, not how many people are willing to spend it. "Spending" Bitcoin is just a transfer of Bitcoin from person A, to person B - nothing in the system changed except current owner of some coins. It's even worse if B automatically sells for fiat immediately. Holding BTC means that your consider it worth more than a current market price. Bitcoin could totally work and be worth millions per piece, even with transactions at $100, as long as people consider it safe and worth holding. As long as I can spend $100 once a year to increase my BTC-retirement-fund, and then spend $100 once a year, once I retired to cash out to some local currency, I'm all good. Now, I now it sucks if you're not rich, and you can't toy with it, and keep sending between wallets etc. And you feel like altcoins are better etc. And it's true - ATM many altcoins a cheaper way to send small sums of money around. But saving / investing... let me tell you how it looks from my perspective... I am a software engineer in Sillicon Valley. I have a well-paying job, I eat $20-worth of sushi for dinner, pay $10 every time I trade stocks, pay $3k each month for rent. I can invest $10k in BTC without thinking too much about it. And I'm not telling you this to make you jealous. The wealth inequality is so vast! That's just reality and I think it gives some perspective. I know as I wasn't born here. And I'm no one special here. I'm a nobody. I can't even afford a decent house here. (hindsight is always 20/20, ha) And there are thousands of software engineers like this. They receive and trade stocks on a weekly/monthly basis, worry about the overpriced stock market, overpriced housing, pilling up cash that they have no idea what to do with. Do you think they care if Bitcoin transaction costs $10? No, they don't. And how many people who complain about $1 fees will take to invest as much as a person like me can? Hundreds. And as I said - I'm nobody. A CEOs here can drop $1MM on Bitcoin, just because they feel playful a given day, or they got jealous of some other CEO friend told them how awesome they are doing with BTC, during a golf game on Saturday. And they wouldn't worry about 50% correction much if at all. And do you think these people buy value-phones and look for good deals on economy-class cars? Do you think they have time to research which altcoin of the day has low transactions? Come on. They will all think something like: "let's put 0.1% of my cash into this magic internet money and see what happens. I want that Bitcoin thing too.". So, you're free to have your own opinion, but if you ask me, for time being, the people who can not afford to transmit Bitcoin too often will and should just hold it, transferring it when it's relatively cheaper, and use altcoins for playfull spending etc. Just don't expect too much return on your altcoin holdings. I expect Bitcoin to consistently keep growing the fastest, while altcoins keep multiplying. It is a self-fulfilling prophecy. Or an iPhone vs hundreds of Android spin-offs thing. I use Android, but do I believe someone will dethrone iPhone? Nope. In a sense... you want to invest in Apple stocks, even if you can't afford to drop $1k on an iPhone yourself. Because of people richer than you that can, and will. And if it makes it any better, I know that LN will solve it all for us. We just need to wait a couple of months.. a year maybe for it to be more common. And I've been through all the early hacks, crashes, MtGox, great depression, forking drama... years and years of problems. And Bitcoin being too popular is like the smallest problem I've seen so far. The problem that smaller coins would like to have, haha. Being patient and some educated faith is what you are rewarded for. Edit: I woke up, and I have to work, so I'm just going to address some common themes. Obviously I created this account as throw-away. Duh. I already can send quickly money for free. I send my friends money with Google Wallet every day. And in many countries in Europe free wires were a thing for like 10 years now. And for purchasing stuff I am very happy with credit cards. They give me points and stuff. If someone thinks Bitcoin can compete as a "payment processor", then I don't know what to say... Wake up, Bitcoin in itself was never really that great at it. Bitcoin won't be a payment processor for the masses. It will be an alternative monetary and banking system. And on top of it, we will get cheap payments and such. The reason why I hold Bitcoin is that I have something that can't be taken away from me. Through theft, inflation, confiscation, economic crisis, banking collapse, unjust court order, you name it. Noone can prove I have it, noone can take it away. I can keep 1% of my wealth in this weird thing and sleep better at night. Other reasons are secondary, though sure... speculation on the price is a nice thing. LN networks are going to work. As a software engineer, I understood how Bitcoin works since I've read the whitepaper and did some research. I've always admired how simple it is. Cryptography part requires expertise, but that's OK. LNs are very elegant and simple too. On a daily basis, I work and improve systems that are way, way more complex than BTC + LN.
Hello everyone, There was very little time to play in week 5, because of personal problems, so I will mainly focus on the progress I did last week. If in week 4 everything was so damn frustrating, the week that just went by was fun. The highlight of the week is Hex. Man, I like her skill set a lot. I moved the current available Strike set from Boomer on her, plus tried to fit in a Focus set, and she is now atk% effect acc and atk%. The results started to appear as I went with her at lvl 60 with 5 stars awakened. She has 5k HP 1k DEF 5k ATK and 134 effect accuracy. With her in lead, it gets better, with 20%. Now, what does this bring? How I progressed with her: Mirage tower 50 – Cuc-kooo rooster? Who? Dead chicken. The fact is, I do not event know, how the cuc-koo became “chicken-kebab” cause I started the stage and just caught a glimpse at the end, with Hex doing Rain of Skulls, just shitting debuffs left and right. Stuck at 55 atm, I am not sure if I should invest in Sproket, or just lvl up the existing units I got. B8 – it is still not on farming status, but that is because my Hex is lvl 63-64 atm and Ambush at 58?! and I cannot get past 3:15, so need to push that retry each time, but it is getting there. Once I put the farming status on B8 I will get ready for B9. Getting ready for B9 implies I start building Chain Reaction. I pulled him and with the Master’s Eon 250 shards I will 6 star him. The runes is what I lack, but that is why I want an otto-battle B8, so I grind little the bitcoin miners. I feel, however, that Hex is my strong unit fo B8 under 3 min. And, I will want to keep her for B9 if possible. Blue-haired ladies from islands – well, they sleep with the blue-haired fishes now. (signed Hex) Endurance “turnbar meter – still do not understand the durability meter. And if Hex could speak, she’d tell me: “Me either bro! But who cares, let me do my thing, and they be soon without endurance bar (laughing in Hex)” Arena – so far arena is no prio for me but I got Silver 2 with no problems at my lvl 28. Ninjini, Stealth Elf and Hex. I just cut through all those defenses that were just beating the crap out of me. It is not even fair once Nin starts ignoring defense with the extra shots. If I had to give advice at this point is, if you start out and have not progressed in Master Eon’s, rush Hex. Get shards for her. For getting Her, it is totally worth the pain of upgrading a blue-horned-imp-dragon-wanna-be. Not that wham-shell looks prettier, or that krypt king is some inspired design, but man does whirl look bad. If so far, outside of magenta, I was not familiar with printer colors, now I know what an ugly cyan troglodyte looks like. Thanks Whirl. Should start a post on monster design I like. Speaking of that, since it is was Hex week for me, I like how she was designed, except hands. Those bear claws are frightening, or the Skylanders budget got cut down just as they were using dress-up features for Hex’s hands. Or, the designer has been nowhere near woman hands. The awakening look that Hex gets is cool though. If someone would cosplay Hex, that would look cool, just leave normal hands…lol Moving on. Invasions – Cannot remember which of the bosses, but with Hex I managed to get another S rank besides the Dark Gulper day. I think it is the Desert Queen boss where Hex performs well. Also, on Monday's invasions we had here bad weather. t was raining skulls...and I got my first S rank at 52k. Guild Wars – for me out of scope, so I will throw Hex in after the GW update and see how she is doing. In no shape to talk about GW though, not my prio atm. Short summary for so far. I leveled Ninjini and Stealth Elf both at max 70 and Elf is at 6 star already. Both evolved. Left Deja-Vu and Enigma at lvl 60+ at 5 stars for the moment, since I need to tackle B8. Focusing on Hex and Ambush. More focus on Hex, as Ambush is for me just a stepping stone at this point, until I farm B9. My activity is all about farming just runes, and the rest of the content I do minimally, with no prio. Been trying Wham-Shell’s potential, so far so good. Cannot wait to start on Chain Reaction. All skill ups will go his way, runes and evolving material, omni stones, guild purchased stone, etc. Thank you for reading. Hopefully until my next post I will already break in into B9 with Hex and Chain.
MOON MISSION - How to Expand the Dogecoin Community!
Hello fellow Shibes,
I decided to make a post regarding the expansion of the Dogecoin community. As a very passionate enthusiast I want to see it reach the moon! This post will be focusing on two main aspects of Dogecoin which I think if cherished or improved will directly corelate with more people joining the Dogecoin community; also discussing how we can promulgate the great things and give attention to areas that need work. The two aspects are: -The community -The currencies technical fundamentals (what they are and how to get people investing)
Let’s start off with the community, WOW! It’s awesome! Unlike other crypto-currency communities whose members are nearly 100% of the time only concerned about financial gains, or what potential criminal use cases are possible (this is truly why the original bitcoin boom occurred). The dogecoin community is completely different, one only has to look at this reddit forum to notice. Or, what this relatively small (in the grand scheme of things) community has funded. $50k for athletes in the 2014 Olympics, sponsoring NASCAR drivers, the Doge4water program etc etc.
So how can we the community continue to spread the word in effective ways? I’ve heard many ideas such as advertisement via posters, social media accounts, charity programs. All of these things are I great if we want to appeal to the masses, but I think the most effective and practical way to encourage people to join the Dogecoin community is by telling our friends who might be interested in why we use it (That’s certainly how I joined the community). I heard someone state something simple yet very true, “if everyone assisted just ONE friend in setting up a doge wallet and got them hooked on the community the population would double!” I personally think that verbal explanation to friends and family is the most simple and effective way of expanding the Dogecoin community, have you guys any other ideas? Let me know.
The issue is unless you’re (generally) in the crypto know-how your most likely not going to take any action if left to your own devices, why? There’s no real incentive to join the community and or to invest in the currency for most people (I’ll address this later). Which leads me to my next point, the technical aspects of Dogecoin.
When talking about any crypto-currency there is usually 5 things to take into consideration to determine if the currency is going to succeed or be useable. Important to note this is done BEFORE the investment, so if the currency doesn’t address these issues well, you’ve lost potential Dogecoin investors. 1) Is it small cap or large cap 2) The blockchain technology 3) Transaction fees 4) It’s White papers (overall goals / roadmap by the engineers of the currency) 5) Ease of purchase / use cases
Let’s test Dogecoin against these 5 points.
1) WOW! 1 Billion dollar market cap! If anyone says Dogecoin is a silly meme currency make them explain that! This means that Dogecoin has been tested against scrutiny and has come out strong, especially since it’s been around since 2013. This is the mark of a truly successful project. 2) Dogecoins blockchain is great, providing ultra-fast transaction times of under a minute, compared to 2.5 minutes on Litecoin and 10 minutes with Bitcoin (this varies depending on 24-hour currency volumes). Also, Dogecoins hashing power is merged with Litecoin which provides a safety net for the proof-of-work system. 3) Transaction fees is another awesome benefit of Dogecoin, because it’s 1 Doge! Which is miniscule compared to many other cryptos. 4) White paper goals? TO THE MOON! 5) Ease of purchase / use cases; this is where I think Dogecoin lacks a bit, so I’ll dedicate the next part of this post to this issue.
Since we have identified that the Dogecoin currency has a great community which can help spread the word, great technology and huge potential what could be stopping people from joining? Well as I mentioned before from research and experience with friends I believe it has to do with the ease of purchase and use cases (hard to buy / hard to spend). When purchasing any crypto-currency you want to buy from a exchange with high volume, the higher the volume the more reputable and safe the exchange is generally speaking. What are the top 5 Dogecoin exchangers ranked by Doge volume? 1) Bittrex @ 20.27% 2) Poloniex @ 17.72% 3) Gate.io @ 10.28% 4) CoinExchange @ 5.96% 5) HitBTC @ 4.92%
What do these reputable exchanges that support Dogecoin have in common? They are all US based, which means if you’re not in the US, unless you want to use a exchange with un-verified reputation that supports a (your countries currency / DOGE) conversion you need to buy Bitcoin or Litcoin first. Then after purchasing your Bitcoin / Litcoin from your countries most reputable exchanges, convert BTC/DOGE or LTC/DOGE. For a crypto-currency novice, buying Dogecoin isn’t too user friendly and might seem like a daunting task.
What does this mean? What can we do about it? I’m 16 years old so I don’t really have the expertise to answer this question but here are some ideas I came up with, feel free to respond and tell me yours.
Dogecoin ATMs: These could be funded by the community and produced in small quantities, but strategically placed where as many people as possible will see such as near tourist attractions. Bitcoin has had major success with this program, it shows to the general public that this is a legitimate usable currency. Also, it provides the convenience of placing loose change into Dogecoin. Ultimate Dogecoin Exchange: This could be an exchange aimed at making purchasing Dogecoin online simple, automating the (your currency / BTC) > (BTC / DOGE) process.
Now let’s talk about the other issue I think could be improved, use cases / ease of spend. So how can we actually use Dogecoin? The ‘Shop with Dogecoins’ section on this forum list all the places that currently support Dogecoin as a payment system, let’s face it, there’s not much. In order for Dogecoin to be truly usable currency a few reputable stores will need to start adopting Dogecoin as a payment system, which is not something that we can really change.
What we can do it is continue to spread the word, and tell our friends and family how much of a great community Dogecoin has, what it has accomplished and what it continues to strive for. I personally have had success in collecting doge from faucets (currently my only supply of Doge because I’m underage to use exchanges), then making paper wallets for my friends. I’ve read about so many other cool projects people are working on to expand the community, in whatever capacity them may have. Just awesome :)
Thanks for listening to my ideas, TO THE MOON!
EDIT: Thank-you everyone for the support of this post, and to the generous Shibes that gave tips :))
Hi Bitcoiners! I’m back with the 28th monthly Bitcoin news recap. For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month. You can see recaps of the previous months on Bitcoinsnippets.com A recap of Bitcoin in April 2019 Adoption
Bitcoin needs to die for the greater good of the cryptoverse
This post represents my opinion only. It is not fact or advice in any way and you should form your own opinions on any potential investments. I believe prevalence and progression of Bitcoin is bad for the long term health of cryptocurrencies as a whole. Bitcoin’s technology is absolutely archaic. Transaction times are incredibly lengthy and fees are astronomical. In its current form, it is absolutely useless as a payment currency for a modern day economy and it does not seem to be able to update in a way that would materially change this. Bitcoiner insistence that it is instead a “store of value”, is ludicrous. Whilst I see some of the logic behind comparing Bitcoin to gold, I find it difficult to believe that the ability to create near-identical copies of the asset (e.g. through hard forks) will not undermine its value. A technology’s value is determined by how useful that technology is. When a new and better technology comes around, the old tech will eventually become obsolete. It has even lost touch with the founding Satoshi principles that it prides itself on, as in its current state, it cannot honestly be considered decentralized anymore (the majority of hashing power is controlled by 4 main miner pools - all of them Chinese). I would be fine with all of this, if Bitcoin kept to itself and didn’t affect the progress of other coins. However, it does not. It is propped up by the relentless stream of bullshit hard forks that drains investment away from viable altcoins, as short term investors seek to cash in on the “free money” available. These forks very rarely make any material contributions towards the network and seem to have the main aim of generating a windfall for all those involved. In the short term, I am fine with this happening (in fact I’m long Bitcoin atm myself - hypocritical, I know). Bitcoin’s name brings lots of important money into the cryptosphere and the devs are still managing to work hard on the altcoin tech, so progress should not be too affected. However, in the long term this could start to hinder altcoin progression, if too many investors choose to back Bitcoin rather than support a promising project. Also, when the Bitcoin bubble bursts as I believe it inevitably will, it risks taking down altcoins as well. I am hoping for a slow death of Bitcoin as investors gradually realise it is no longer the future and so move their investments elsewhere. This would prevent too many people getting burned, but I fear that it is wishful thinking. Bitcoin introduced the world to cryptocurrencies and for that I’m grateful. However, cryptos have the potential to completely revolutionise the society of the future and I now believe that Bitcoin is just holding them back. Any discussion for or against this opinion is very welcome.
January 9th, 2022 Following the collapse of Lehman Brothers on September 15th, 2008, the international financial fabric was torn apart into an existential crisis. Threatened by the "Great Recession", the global ruling class was forced into taking decisive action. Most Governments opted to bail out the banks, driven by their mantra of "too big to fail". Elsewhere, financial authorities and Central Banks opted to do the unthinkable by letting the market collapse. In the wake of the global recession, a plethora of financial reforms were carried out. Some economists revisited the concept of doing away with fractional reserve banking altogether, with Iceland nearly leading the way. Most conventional politicians, meanwhile, opted to enact some of the most complex regulatory legislation in financial history, adding over eleven thousand pages to the bureaucratic burdern in the process.In the meantime, the regular "bloke on the street" had finally had enough and clamoured for change. Today, nearly fifteen years later, "recession" has once again become the name of the game. With the European economy entering a state of contraction and German commercial banks facing imminent collapse, the global economic system is on the edge of being subjected to the worst economic crisis in recorded history. And while the Bundestag has already **recommitted itself to a bailout, others have yet to respond to the impending financial meltdown. Although Chile and the rest of Latin America are somewhat isolated and thus shielded from the "European dumpster fire", the Government is keenly aware that the situation could quickly take a turn for the worse. As such, the Ministry of Finance and the Central Bank of Chile have decided to embark on what they call "The Great Redemption". And although financial reform is contrary to the Allende Administration's strictly interim nature of governance, the President believes that the State has an inherently entrenched obligation to protect its citizens from suffering at the hands of the financial system. "The old continent has finally met its end", an increasingly aged and fragile Allende told the New York Times. "And in this new world order, Chile leads the way."
Having already adopted an inflation target of roughly twice the conventional level, the Central Bank of Chile has formally decided to end its active monetary policy. Citing the recent European debacle as a conclusive refutal of William Taylor's monetary policy rules, the Central Bank has instead decided to put Milton Friedman's K-Percent Rule) into practice. Starting on February 1st, all monetary policy will be strictly determined by a hard-coded computer programe1. Hardwired to increase the supply of the Chilean Austral by a fixed rate equivalent to real GDP growth, the antyclical nature of the resulting monetary policy will bring stability to the national currency, helping to preserve Chilean purchasing power whilst simultaneously adhering closely to the 4% inflation target based on the Phillips curve.
Leveraging experiences from the Swedish Riksbank's e-Krona and similair efforts by the Bank of England, the Central Bank of Chile will be issueing the world's first fully implemented central bank digital currency. Stylized as the Æustral, the currency will be largely based on the value of Chile's legal tender of the same name. The Æustral is primarily intended for relatively small transactions between citizens, businesses and Governmental entities.
Instead of issueing services to the public directly, the Central Bank of Chile will be implementing a market-driven "Indirect Access Approach". Under this scheme, the Chilean Central Bank will issue the Æustral, whilst private sector parties will provide so-called "Digital Cash Accounts" and their accompanying services2. As all funds deposited in a DCA are held in full at the Central Bank, providers will be able to pay an account balances in their entirety and ad any time to their customers * DCA providers will, in turn, be prohibited from lending money or otherwise taking risks with their deposited funds.
The Central Bank of Chile notes the following advantages of the Æustral:
Enhanced Monetary Policy - The issuance of digital fiat money provides the Central Bank with more tools and leeway in terms of reactively and proactively influencing monetary policy. It, for example, allows for interest rates to be set at negative rates with relative ease. In the case of Chilean monetary policy, the Æustral will allow for the proactive issuance of "Helicopter Money" into the economy, occuring within the fraework of the Banks's new monetary policy;
Enhanced Financial Safety - By allowing the general public to open and use an account at the Central Bank and settle transactions using the Æustral instead of regular bank deposits, the concentration of liquidity and credit risk within the various payment systems will be sgnificantly reduced. This will not only lead to systemic reduction of "too big to fail" banks in the financial system, but will also provide Chileans with a genuienly risk-free alternative to deposits at commercial banks. The latter will in turn lead to the reduction of "moral hazard' currently being practiced by banks as a result of deposit insurance;
Competition & Innovation - By providing Chileans with a safe public banking alternative, the regulatory framework surrounding banks can be significantly reduced and simplified, making it easier for new entrants to enter the financial market and offer competitive and innovative banking solutions to consumers. The sytem will also reduce or elliminate the need for smaller institutions to run their payment through larger "system and settlement banks", which have traditionally abused their monopoly to charge exorbitant transaction rates, thus unfairly disadvantaging smaller market players;
Seigniorage - Over time, the increased issuance of the Æustral by the Central Bank will increase the proceeds of the money creation process. These windfalls subsequently end up in the national Treasury, thus increasing Government revenues which can subsequently be used to serve the public good;
Alternative Finance - By issueing the Æustral, the Central Bank of Chile can account for decreases in the money supply stemming from the proliferation of alternatives to money-creating banking, such as peer-to-peer lending, thus allowing for the further proliferation of said alternatives without adversely affecting the money supply; and
Financial Inclusion - DCA Providers, whose core business consits of facilitating transactions first and foremost, will be able to offer financial services to customers who are normally exlcuded from conventional banking.
Privatisation with a Human Face
Founded in 1953 by President Carloz Ibañez del Campo, the Bank of Chilean State is the country's third largest bank. BancoEstado has been ranked Latin America's safest bank since 2012, and the 48th safest bank in the world and 6th in the Southern Hemisphere since 2015. BancoEstado - whicich is rated AA3 by Moody's - is furthermore the only bank to service all of the country's communes, while being the sole financial service provider in theseventy-seven of the most remote Chilean localities.
With the introduction of the Æustral as public banking alternative, BancoEstado's role as a public bank has become redundant. As such, the Ministry of Finance has decided to divest itself from the institution. This shall not be achieved through publicly traded stocks, however. Instead, BancoEstado will become a socially responsible co-operative bank, with both old and new customers being offered ownership shares and certificates and thus participation in the decision-making process instead. After the completion of this "social privatisation", the freshly minted Banco Popular de Chile will become the world's largest co-operative bank, surpassing France's Crédit Agricole in the process.The Government intends to raise between $40 to $55 billion3 through this method, which will subsequently be invested into the Chilean Commonwealth Fund in order to significantly increase the size of the country's "rainy day fund".
In order to increase consumer confidence in the financial system, the Chilean Government will be expanding the country's deposit insureance scheme, which currently covers deposits of up to $5,566, to $13,500. The maximum insured deposit value will furthermore be indexed in line with GDP growth.
Additionally, the Government will be reforming the framework of the deposit insurance scheme as a whole. Starting on June 1st, deposit insurance will stop being a mere Government-baccked deposit guarantee. Instead, banks must pay insurance premiums into the Chilean Commonwealth Fund, with premiums being based on the level of risk associated with a particular bank. Banks may opt out of this arrangement, but this will likely result in a public relations fiasco. This approach will further help reduce the issue of moral hazard in the financial sector5 .
In order to allow banks to differentiate themselves in terms of risk profile, the fractional reserve limits under which Chilean banks abide will be lowered from 13% and 10% for small and large banks, respectively6, to a uniform rate of 7,5%. Banks will - under the radically enhanced free market environment - be able to differentiate themselves to consumers by potentially offering higher reserve rates at the expense of lower interest rates, and vica versa.
In order to inrease the financial health of banking institutions, the Chilean Government will be instituting a requirement for banks to implement so-caled "automated anti-cyclical capital reserves". These reserves shall amount to a minimum of 5,5% of a financial institution's non-weighted and risk-weighted debt-to-equity ration.
In light of the impending financial crisis, banks shall be required to "accept loss sooner" by - among other things - cancelling a mortgage when a persons is forced to hand in the key to his house due to financial troubles, with the bank taking over the property instead. This stipuplation is based on preexisting regulations in several US states, as well as on islamic banking and finance practices, where the financial institution effectively acts as a co-owner of the property in question.
In order to permanently entrench the public interest into the institutional decision-making process, banks will be required to institute a Societal Council. Banks must consult said councils on all important business matters and decisions, and the council's opinions and recommendations must be weighted heavily into every major institutional decision.
Following the Dutch example, Chilean banks will transition to a common Automated Teller Machine design managed by a non-for-profit organisation. This will allow for a reasonable level of service to be maintained, while also alloing for greater efficiencies by allowing redundant ATMs to be done away with.
The Chilean Government hopes - above all - that its willingness to undertake radical reforms will serve to inspire Euuropean Governments and Central Banks into being ambitious in their response to the continet's economic issues. At the same time, the Chilean financial sector is expected to become one of the world's most innovative, competitive and dynamic payments markets, continuing the country's reputation as Latin America's "Shining Star".Only time will tell whether or not these reforms will actually bear their fruits.
1 - Based on a quote by Milton Friedman.
2 - Customer support, mobile and internet banking, etc
3 - I based this figure on the 2018 Annual Report, where on page 46 it states that the bank's total consolidated assets total more than $40 billion dollars. The figures I gave in terms of revenue are based on the subsequent economic growth, the willingness of Chileans to gain ownership of the bank for nationalist reasons, and on thee fact that both Peter_j_ and ForestChapel valued the bank at $50 billion in previous seasons. Please feel free to provide me with imput as I'm not very well vested in corporate valuations.
5 - This is based on the so-called Bibby Plan, which is briefly described on the deposit insurance wikipedia page, as well as on basic econoics.
6 - Regulations regarding the creation of a new bank will be adressed in a separate post.
[M] Much of the stuff in this post is based on recommendations by the Sustainable Finance Lab, a high profile Dutch financial think tank. As such, some of the stuff in this post might be a bit out of place considering the vastly different nature of the Dutch financial sector. Most of it should still be universally applicable, though.
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