I had an event happen earlier today that I thought would be worth sharing just to remind people why we on bitcoin. Back in 2005 I may have gotten in a bit of trouble in the street racing scene. Forgot to pay my probation fines and oddly enough 12 years after I got off probation I wake up to my checking account being at 0. Naturally I called the bank and ask what's going on. Apparently the state decided to garnish my account with no prior warning for those old fines. It's a legitimate debt I'm not really that upset I have other money but it's a warning. At the click of a button your bank account can be turned off. Governments can take your money and then you're going to court trying to prove that they shouldn't have. It's also a good reminder not to keep your coins on exchanges.
Tuesday, November 19, 2019
[Daily Discussion] Wednesday, November 20, 2019
Thread topics include, but are not limited to:
- General discussion related to the day's events
- Technical analysis, trading ideas & strategies
- Quick questions that do not warrant a separate post
Thread guidelines:
- Be excellent to each other.
- Do not make posts outside of the daily thread for the topics mentioned above.
Other ways to interact:
- Get an invite to live chat on our Slack group
- Set your flair to trade pretend money in the Flair Game
- Weekly threads: Newbie Mondays and Fundamentals Fridays
- Altcoins Discussion: Altcoin Discussion
[Altcoin Discussion] Wednesday, November 20, 2019
Thread topics include, but are not limited to:
- Discussion related to recent events
- Technical analysis, trading ideas & strategies
- General questions about altcoins
Thread guidelines:
- Be excellent to each other.
- All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
- This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
- No discussion about specific ICOs. Established coins only.
If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.
Other ways to interact:
- Get an invite to live chat on our Slack group and check out the #altcoins channel
- Daily Discussion for bitcoin only: Daily Discussion
- Prior Altcoin Discussion: Altcoin Discussion
Weekly Update: $PAR events galore, Parachute Treasure Hunt Winner, Arena Match Roadmap, SelfKey on ETHoutlet... – 18 Oct - 24 Oct'19
Hiya folks! Long time since I shared a weekly update. Let's see if I can catch up with the latest in the next few days. Wish me luck. Here’s your week at Parachute + partners (18 Oct - 24 Oct'19):
This week’s Parena saw rageagainst take home a cool 50k $PAR by beating Ryan in a quick finale battle. The ParJar Battle Royale for our newest ParJar Pilot partners was this week. A ton of fun and a lot of $PAR (and $AMGO) tipped out. The official numbers of the $AMGO airdrop is out. The event which happened few weeks back saw 27k new ParJar wallets receiving the drop. Sweet! In this week’s TTR trivias, we saw 25k $PAR given out in MrPromise’s 10 question physics quiz, folks getting bamboozled in Charlotte’s Math trivia (10Qs, 2500 $PAR each), Doc Victor’s Video Games and War quiz seeing a participation frenzy for a 25k $PAR pot for 10 questions. Plus, Benjamin hosted a 10Q, 25k $PAR pot trivia based on the 2nd edition of the Parachute Post that he wrote. Even if you didn’t win, you definitely know more about Parachute and ParJar now. Thanks Ben!
Jose is making a Parachute CS map (de_parachute). Awesome! Gamers get ready
KellyBoy won 12,500 $PAR in Jason’s first ever raffle. Another first ever this week was Jason’s #WholesomeWed initiative: participants win $PAR for writing “about what they like about where they live”. Higher tips for photos, descriptions, stories, poems. Thank you Andy, Jason, Trojak, Nico B, Jeff Crypto, Gisele, Andhrew666, Reyna, Tavo (Gustavo), Cap, Zion, Lordhades, Marcos, Evangelina, Jose, Doc Victor, Saman, Richi, Shirin, Elena, Charlotte, Borna, Gl1tch, Bose Grace, Naya, Fadlan, Hanabi, dontouchscreen, Martha, Mariuska, Maiden, Jorge, Abdul, Labyb, CF (not Crypto French :p), Rin, Annerys, Mike India, Santhi, Adrian, Alexis, Frank, Glox, Muksin, Shaq Diesel, Alanys, Daniel, Brian, Yoleidis and Alejandro for the pictures! The Parachute Treasure Hunt finally has a winner. Congratulations to Justin Tobin for winning a boatload of crypto! Also, great teamwork by Harry, Edson, Unique, Reuben, Alimam and Doc Vic for getting the 2nd position. Two-for-Tuesday is back! This time in Parachute. This week’s theme was Rap/Reggae/Reggaeton. Super fun as always, Gian!
PARachuter lunch. PAR is everywhere #PARroundings. Pic courtesy: Sebastian
aXpire announced this week that they were joining the Oracle for Startups ecosystem. This initiative helps startups grow by leveraging Oracle’s PaaS and IaaS platforms. Watch the latest weekly update from Joakim by clicking here. The weekly 20k $AXPR burn can be tracked here. The team also opened up a question form for an AMA next month. Last week, we shared that $BAT is now tradeable/spendable/sendable on 2gether. Read more about it here. The latest feature in the app allows you check price history of cryptos. Neat! Participants of the Crypto Talent competition, don’t forget to check out Salva’s video on foundations of the economy. Founding Partner Luis Estrada will be speaking on AI, Cloud and BigData at the eShow in Madrid next week. Following and chatting options are now live in the WednesdayClub dApp. Noice! The latest WandX update covers developments from the strategic front, especially how the team is navigating the challenges of cross blockchain applications and regulations vis-à-vis Dex’es. As mentioned in the previous updates, XIO will not switch to Binance Chain and will continue to remain on Ethereum. Zachary explained in detail the events that lead to the decision in this article and video. There will still be a token swap but it will be an ERC20:ERC20 token swap to filter out inactive wallets. Details on how to do the swap will be shared in future updates. The first set of XIO incubated startups are also slated to be revealed soon. If you wish to receive regular XIO mailer updates, make sure to register as a Citizen here. Uber cool gif, Jimpanze! This week’s community discussions revolved around utility vs adoption, liquidity pool on Uniswap and multi-collateral XIO.
\"First sneak peek at some conceptual UI/UX of $XIO\". Nice!
$HYDRO is now tradeable on Liquid with a $BTC and $EUR pairing. Deploying Hydrogen’s PaaS for your fintech needs could lead to massive cost savings. Read more about it here. Dedicated socials and website for the Hydro Labs were launched this week. Plus, a Turkish blog. The team travelled to Montreal for Fintech Forum Canada and to Madrid for the BBVA Open Summit. Ahead of the 2019 Fintech Awards in which Hydro is a nominee, the project was covered in an article by Benzinga. And a cool shoutout from Bank Innovation. Hydrogen is also a finalist in the Most Innovative Banking Technology Provider category of the Banking Technology Awards 2019. Woohoo! Hydro's webinar on financial wellness happened this week. The Hydro 2FA solution is now integrated in the Barginex trading platform. A sweet bugfix bounty of $10k HYDRO got scooped up within a day of announcement. Click here to catch up on the latest ongoings on the dev front at Silent Notary. Tech nerds, have a read of Sentivate founder Thomas Marchi’s thoughts on QUIC, HTTP, UDSP and have a go at his riddle while you’re around. OST’s Pepo app launched on Product Hunt and app stores this week. As influencers continue to join the platform, this week we got a chance to see Meltem Demirors, NiMA Asghari and Dennison Bertram in action on Pepo. The latest upgrade features browsable hashtags. OST Founder Jason Goldberg’s fireside chat with CryptoOracle co-founder Lou Kerner is scheduled for next week. OST-backed Pepo and Hornet are now live on State of the DApps. Ahead of the San Francisco Blockchain Week, which the team will be attending, a new bounty was released for attendees. Tons of $OST up for grabs! There’s also a cool bounty for 1k $OST for promoting your blockchain article.
With Halloween right around the corner, Hydro office decorations are on point
Click here to watch the Mycro design & development team work on the app’s processes. SelfKey’s $KEY token was listed on ETHoutlet this week. The listing will provide $KEY with an $HKD fiat on-ramp. Additionally, ETHoutlet also joined SelfKey’s Marketplace. ETHoutlet operates a Dealer Exchange (i.e. traders trade with the platform directly instead of P2P) and has a physical store where people can trade OTC by visiting the location. Want to identify an exit scam before it happens? SelfKey crew’s got your back. Check out their article to learn how. Constellation joined the Board of Advisors at the Portland State University this week as part of an accredited Business Blockchain Certificate program which is also the world’s first such university accredited program. Congratulations! BAGS token group had their 6th Bazaar Upcycle event this week. Plus, a ton of $BAGS were given away for trivia and stickers contest. The Arena Match Fall 2019 Roadmap was published. Some of the updates that will go live are – CS:GO ranked matchmaking, replacement of credits with straight cash in/out (with an optional AMGO toggle), enhanced Perks, new UI, on-demand servers etc. Lots in store! Big up to Pynk for winning the Wolves Summit Pitch Competition. Click here and here for pics from the event. Last week we talked about Pynk's feature in BlockMAG published by the Malta Blockchain Summit. Here's the full scoop. Plus, a cool shoutout from Founder Institute. P.S. Pynk is an FI alumnus.
Arena Match new dashboard prototype mockup
Birdchain announced a copywrite contest this week. Cryptowriters assemble! The team also shared its marketing roadmap. Switch partner McAfeeDex now has 10 portals live with more in line for release. The next updates will contain multi chain support + Onion portal. It is also the 37th most popular ETH-based dApp on DappRadar. Plus, a chance to win 1k $ESH. More media coverage of the McAfeeDex from Bitcoin.com, CoinTelegraph, Blockonomi, The Daily Chain podcast and BLOCKTV this week. Plus, the first decentralised IEO was launched on the Dex. If you missed Fantom’s AMA with CryptoDiffer this week, here’s the transcript to get upto speed. The latest research paper from Fantom's partners at Yonsei University talks about The Economics of Smart Contracts. Have a read when you get a moment. Uptrennd will be introducing a more robust verification system for withdrawals to ensure that the platform stays fair and keeps bad actors away. In addition to the Malta Blockchain Summit, Jeff will also be travelling to CMC’s The Capital and BlockShow this month. In case you get to meet him at these events, chances are you could win some $1UP in the process. Woot! Click here to check out the entries to the video intro contest started last week. Uptrennd now has a Subreddit as well. Starting this week, the crew will be publishing regular TA reports based on community votes. 1UP was voted for the first report. Blockport’s $BPT/$ETH trading pair was discontinued from KuCoin this week as requested by the project. The $BTC pairing will continue to operate on the exchanges. Click here to catch up on the latest district weekly from District0x.
And that’s a wrap for this week in Parachuteverse. See you again soon. Cheerio!
The birth of decentralization
The system is collapsing. We see massive government distrust in the world right now. Mexican government overtaken by the Cartel, Chile government sending out the army to stop protesters, Hong kong civil war, Venezuela hyperinflation, Iran fuel protests and government shutting down the internet.
It's only a matter of time when these tragic events will spread to the west.
What will happen when people realize that the government is not to be trusted? Currency should not have any political influence and not be printed into oblivion at will.
What we can learn from these events is that centralization leads to power hungry elites destroying the world with their greed.
We need to move back to the gold standard, or since we're in the digital age, the bitcoin standard.
Exchange Account Recovery Service
I offer a service that assists people who are not able to withdraw cryptocurrency from their exchange accounts.
The service I provide is KYC assistance wherein I work with an information donor in person to recover your funds. In this way, I am able to provide real documents on demand when and how the exchange requires them.
How it works:
1: Contact me with your case and I see if I can help.
2: After a fee has been agreed upon, I receive the details of the account. I then submit a ticket with the exchange asking what they need to verify the account.
3: Upon receiving a response from the exchange outlining the needed documents, I work with the information donor in person to organize the necessary information and documents.
4: I submit the appropriate documents.
5: The exchange either approves the verification, or requires additional documents, steps 3-5 are repeated until verification is approved.
- Account funds are sent to the owner, and account is closed.
The account in question is closed permanently to ensure the information donor is not subject to any liability that might occur from future use of the account.
I have been assisting with account recovery for almost 1.5 years now, and have been successful in most cases. In the few cases where I have not been able to help, it is because it's impossible to satisfy the requests of the exchange; for example, some exchanges demand a complete history of the BTC and its source of funds, and if this cannot be provided they will not verify the account. In the event that I am unsuccessful in recovering the account, I provide full control back to the owner.
I have been working on Reddit for years doing hard fork extractions, OTC work, and account recovery services. I have an excellent reputation, of which can be seen on my Reddit posts.
https://np.reddit.com/r/BitcoinAirdrops/comments/8as5z5/hard_fork_selling_extraction_services_kyc/
https://np.reddit.com/r/BitcoinAirdrops/comments/8e95u6/hard_fork_selling_extraction_services_kyc/
https://np.reddit.com/r/BitcoinAirdrops/comments/8gf642/hard_fork_selling_extraction_services_kyc/
The fee for this service is 20% of any recovered funds, with a minimum fee of 0.2 BTC.
I can be contacted on any of the following
Reddit: u/camku
Email: [camku@tutanota.com](mailto:camku@tutanota.com) or [camku@protonmail.com](mailto:camku@protonmail.com)
Telegram: @Camku
I can send my PGP fingerprint on request.
Rare book collection
Few years ago, i had a couple of dollars left in my bitcoin wallet on a darknet market, and i used it to buy some books. It came as a pack. Literally thousands of books, reports, guides. Mostly in PDF and TXT format. Some even have pictures. The number is over 5300.
They vary between FBI report about cuthulhu to how to grow marijuana, from occult collections to survival guides. Very, very interesting shit. It is over 2.3 GB.
If anyone is interested, i can upload it somewhere and share it in here. I have shit internet so it may take a week for me to come through, but if there is demand to it, i will deliver. I paid for it, so there is no need for you to pay if you are interested about things like that.
Here is the complete list.
How staking enables passive income earning in crypto
The basic behind Proof-of-Stake and cryptocurrency staking
The main purpose of Blockchain is to fulfil the role of trustworthy and decentralized digital ledger that is used to record transactions across many computers so that any involved record can’t be altered retroactively, without changing of all subsequent blocks.
The nature of all Blockchains is the same, transactions need to get validated somehow.
The original concept used for Bitcoin is process called mining, or Proof-of-Work (PoW) where users use hardware to solve mathematical formulas – thus validating transactions. But there is another form of validation (sometimes also called consensus mechanism) known as Proof-of-Stake, or simply put ‘staking’.
Staking PoS cryptocurrency in a nutshell
Coin staking gives the power to currency holders, for example they can decide in which direction Blockchain upgrades will go. They can vote on new features that will be included in staked coin and participate in validating process and generate income in the form of crypto dividends.
To enable staking all you need to do is to hold coins locked in your wallet or within smart contract rule (Masternode).
Then we have process similar to a lottery in which the number of cryptocurrency you keep staking is equivalent to holding a certain number of lottery tickets. Every staking user can be chosen randomly to be validator of blockchain’s transactions, and as a result they earn the staking rewards for supporting the network.
Why cryptocurrency staking is beneficial?
- You don’t have to invest in expensive mining hardware, hardware setup and maintenance. Also energy consumption is greatly limited due to fact that no additional hardware is needed.
- Staking system is hard-coded to bring you predictable source of income, and although staking rewards are generated by random and probability is low, we can expect stable rewards.
Passive income via staking rewards – new era of earning money
Earning stable passive income with Proof-of-Stake coins great way of earning money. What is even more interesting is fact that you are not limited to staking one coin at a time. Also with development of automated staking platforms like MyCointainer everyone can stake like a pro.
With pool staking there is no need to waste time on staking wallet maintenance or software updates and you don’t have to worry about constantly being online.
What is more you are staking coins and generating profits from Masternodes at the same time. Staking services gives you standarized and more frequent crypto reward generation (due to pool staking effect) which is perfect for diminishing staking randomness.
Happy staking!
Are you looking for more tips or information about general cryptocurrency news, guides strategies or other interesting subjects linked to the cryptocurrency, fintech, new technologies, trading space, crypto investments? Visit MyCointainer Platform also feel free to sign up for our Community so we can make impact together.
Follow MyCointainer on Twitter or Instagram and check out our Telegram channel.
See you soon
Christophe WILHELM
Published with the agreement of MyCointainer
Credits photo : https://www.mycointainer.com/
Resources
Top 15 Crypto Reddit Communities
Here is a list of the top 15 Reddit Communities to learn about Cryptocurrency. These are groups that talk about trading, using, building, and investing in cryptocurrency and blockchain projects.
- Reddit Bitcoin
https://www.reddit.com/r/Bitcoin/
This Reddit community is dedicated to all things Bitcoin. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are managed without any central authority: no government, company, or bank is in charge of Bitcoin. You would like this group if you are interested in software technology, peer-to-peer systems, economics, or just making money online. A large percentage of the group is Bitcoin enthusiasts and being one of the larger Reddit groups, this is a great place to start!
- Bitcoin Beginners
https://www.reddit.com/r/BitcoinBeginners/
This subreddit is created for beginners in Bitcoins. They discuss and encourage their members to ask anything about Bitcoins. This is just like an open community where everyone helps each other with their basic to complex questions and struggles about Bitcoins. If you got questions and want to help others, you may throw your comment on their subreddit freely.
- BTC
This is an open and free support subreddit that mainly discusses Bitcoins news, developments and interviews from top BTC Industry pioneers. They also have a chatroom where you can ask for Bitcoin-related questions and inquiries. The best thing about this diverse community is that they honor the spirit and nature of BTC being a place for an open and free discussion about Bitcoins without the interference of moderators.
- CryptoCurrency
https://www.reddit.com/r/CryptoCurrency/
This is the official source for cryptocurrency news, discussion & analysis. This subreddit also manages r/CryptoMarkets and it mainly for open source exchanges, inflation rates, demand, and price, etc. They also handle r/cryptodevs which is the main source for Crypto-related developer discussion, technical discussion, and current news. Lastly, the r/CryptoTechnology, created for serious & technical discussion of cryptocurrency technology and its use cases. These subreddits are very informative and full of many different perspectives from different members across the globe.
- BitMarket
https://www.reddit.com/r/BitMarket/
A subreddit mainly for buying and selling almost anything for Bitcoins except what is prohibited by Reddit. As their member, you may be able to sell and buy on their community. This is a perfect place where to trade anything useful or valuable into Bitcoins. Shout out to all the traders of different Gift Cards out there you may post your cards here in exchange for Bitcoins. Just always be vigilant to avoid scams.
- Litecoin Markets
https://www.reddit.com/r/LitecoinMarkets/
This subreddit welcomes general discussion related to the days events, technical analysis, trading ideas & strategies in the world cryptocurrency specifically Litecoin. They also discuss its growth and how it creates impact among other cryptos. This is also a source of bunch of suggestions where you can find stores and exchanges that accepts Litecoin as mode of payment.
- Crypto Sob Markets
https://www.reddit.com/r/cryptosobstories/
A subreddit of crypto scam revelation from different people across the globe. They share and announce here current biggest lies and unjust handling of their cryptos and mostly losing their whole investment money for cryptocurrency. This is also an eye opener for all the traders and anyone who’s in Crypto World, so always be vigilant and research as much as you can before investing into something big. You can start your awareness here!
- TRADE
https://www.reddit.com/r/TRADE/
All for sale - that is what this subreddit is all about. Redditors around the world trade and exchange unused and unwanted objects to anyone who will meet their payment standard and procedure. Some accepts PayPal but mostly accepts payments in cryptocurrency as this is the money of the future. Are you looking to buy something like subscription, online course, etc, this is the best place for you!
- Reddit Exchange
https://www.reddit.com/r/REDDITEXCHANGE/
If you got bunch of cryptos to spend and want to go online shopping for gift cards, like Netflix, Nordstrom, Scribd, Grammarly, HBO, WWE, VyprVPN, etc. this subreddit is the best place to start with. They mainly accepts bitcoins, ethereum and other major cryptos. You’ll find it easy who to purchase because they have their trade description that includes their history of trading and their grade.
- Steam
https://www.reddit.com/r/Steam/
This is the official subreddit for Steam Community. Steam is a video game digital distribution service platform developed by Valve Corporation with nearly 30,000 games from AAA to indie and everything in-between. Here in this channel you may find Steam Gift Cards for sales at times and can be purchased using cryptocurrency.
- Gift Card Deals
https://www.reddit.com/r/GiftCardDeals/
According to its subreddit description: this is for sharing and promotion of deals, discounts, and promotions involving retail gift card purchases. From Google Play Gift Cards, Amazon Gift Cards, and others that are very popular in the marketplace can be found here in this subreddit and can be purchased in cheaper value using cryptocurrency.
- Dropship
https://www.reddit.com/r/dropship/
This is a helpful community and a place to tackle the business of dropshipping from the side as a seller or a buyer. This is where you can find useful resources, problem solutions and serious technical issues that everyone in the industry struggles with. You can also find suggestions what is the best exchange to go to purchase discounted gift cards and some informative discussions on how beneficial it is to turn your commerce business as crypto-accepting online store.
- Frugal
https://www.reddit.com/r/Frugal/
A thrifty subreddit it is. This is where you can find wise insights, very affordable and easy ways of doing something you taught might be expensive or hard to do. They have bunch of members announcing amazing finds, tricks and tips to everyone for free. Crypto guys also lures this community and mostly suggest on how to get things in cheaper value using cryptocurrency transactions.
- Promo Code Share
https://www.reddit.com/r/PromoCodeShare/
This subreddit offers various ways to get bitcoins, vouchers, gift cards, subscriptions, etc for free. You will mostly see referral links from different members across the planet. When they share they get something from it and you as a user will also be benefited from it, so it’s a win-win situation, like a win-win subreddit!
- Redeeem
https://www.reddit.com/r/Redeeem/
The purpose of this subreddit is to be a helpful community with informative and useful information about Redeeem and Cryptocurrencies. They encourage questions, comments, and discussions related to trading. This is an exchanges known for its safest procedure of buying and selling. If you are looking for an alternative and you are tired of rampant scams on internet about discounted gift cards, time to try Redeeem. Thank us later!
The DCS project, together with Extstock, is conducting an airdrop. Campaign Dates: November 14 - 21, 2019
The exchange is represented by https://coinmarketcap.com/exchanges/extstock/ - it occupies the 83rd place with a daily turnover of $ 18,044,294.
The project has passed IEO on the exchange and the exchange has flooded the token.
Campaign pool: 500,000,000 DCS tokens for the first 5,000 participants.
Rewards: 100,000 DCS tokens of approximately $ 18.
Algorithm of actions:
1) Register at https://extstock.com/profile/registration?ref=6t6DXZ6ZtD8Jbn0j
2) Confirm mail
3) Follow the link https://twitter.com/extstock/status/1194993410983124996 - read
@extstock, retweet and comment with hashtags #cryptocurrency #bitcoin
4) From the tweet https://twitter.com/extstock/status/1194993410983124996 go to extstock.com/events/1 under your account - click on the “Claim Prize” button below
The DCS project, together with Extstock, is conducting an airdrop. Campaign Dates: November 14 - 21, 2019
The exchange is represented by https://coinmarketcap.com/exchanges/extstock/ - it occupies the 83rd place with a daily turnover of $ 18,044,294.
The project has passed IEO on the exchange and the exchange has flooded the token.
Campaign pool: 500,000,000 DCS tokens for the first 5,000 participants.
Rewards: 100,000 DCS tokens of approximately $ 18.
Algorithm of actions:
1) Register at https://extstock.com/profile/registration?ref=6t6DXZ6ZtD8Jbn0j
2) Confirm mail
3) Follow the link https://twitter.com/extstock/status/1194993410983124996 - read
@extstock, retweet and comment with hashtags #cryptocurrency #bitcoin
4) From the tweet https://twitter.com/extstock/status/1194993410983124996 go to extstock.com/events/1 under your account - click on the “Claim Prize” button below
Bitcoin halving event ‘may not drive up price’
Daily analysis of cryptocurrencies 20191119(Market index 32 — Fear state)
SEC Is Reviewing The Bitwise Bitcoin ETF RejectionAccording to a notice published in the Federal Register over the weekend and dated Nov. 18, the SEC’s five commissioners will review the Bitcoin ETF put forth by Bitwise Asset Management.The rejection was written by the agency’s Division of Trading and Markets on Oct. 9. The Nov. 18 notice actually references a letter from the SEC’s commissioners dated Oct. 15. It is not clear what triggered the SEC’s review. Under current federal law, the commissioners can grant a review at their discretion, or following the filing of a petition.The order rejecting the proposal will remain in effect until the review has concluded, the notice said, with the commissioners either upholding the staff rejection or overturning it. As part of the review, the general public can comment on the rejection through Dec. 18, 2019.
First American Convicted Of Running Fraudulent ICOs Sentenced To 18 Months In PrisonMaksim Zaslavskiy, a computer programmer from Brooklyn and the first person in the United States to be convicted of running two fraudulent ICOs has been sentenced to a year and a half behind bars.As Law360 reported on Nov. 18, both of Zaslavskiy’s ICOs were advertised as being backed by collateral, diamonds and real estate, respectively, which did not exist. Zaslavskiy pleaded guilty in Nov. 2018 to conspiracy to commit securities fraud.
US Govt Requests To Intervene In CFTC Lawsuit Targeting Bitcoin FraudsterThe United States Government is seeking to intervene in the lawsuit brought by the Commodity Futures Trading Commission (CFTC) against Bitcoin fraudster Jon Barry Thompson. On November 18, 2019, the Government filed a set of documents with the New York Southern District Court requesting an order authorizing intervention by the United States and staying civil proceedings until the conclusion of the parallel criminal case, United States v. Jon Barry Thompson, 19 Cr. 698. The Government notes that the criminal case arises from the identical set of facts and circumstances that underlie the civil action. As a result, according to the Government, a full stay is especially appropriate because any exchange of discovery would be asymmetrical and would merely allow the defendant to circumvent the criminal discovery rules and improperly tailor his defense in the criminal case.
At the end of the October 2019, bitcoin started a sharp increase from the $7,283 low against the US Dollar. BTC surged above the $8,000 and $9,100 resistance levels. Moreover, there was a nasty spike above the $10,000 resistance area.
However, the price failed to settle above the $10,000 resistance and the 100-day simple moving average. A high was formed near $10,576 before the price started a fresh decline.
This month, the price lost almost all its gains and traded below the key $9,100 pivot level. Besides, the price broke the 61.8% Fib retracement level of the October’s rally from the $7,283 low to $10,576 high.
It is now trading well below the $8,500 support and the 100-day simple moving average. An immediate support is near the $8,060 level since it coincides with the 76.4% Fib retracement level of the October’s rally from the $7,283 low to $10,576 high.
Review previous articles: https://medium.com/@to.liuwen
Encrypted project calendar（November 19, 2019）
Lisk (LSK): 19 November 2019 Lisk.js “We are excited to announce liskjs2019 will take place on November 19th. This all day blockchain event will include…”Aion (AION): 19 November 2019 Hard Fork “Leading up to the hard fork on November 19th-20th, 2019 the Unity — Aion Kernel will be upgraded by node operators.”Enigma (ENG): 19 November 2019 Open Community Call The first Enigma Open Community Call is Tuesday, Nov 19th, 11AM ET! important updates on our protocol, the Genesis Game, and our road ahead.Lisk (LSK): 19 November 2019 Berlin Meetup “Ahead of LiskJS2019, our partners Berlin Valley are hosting a startup industry networking event, #DigitalTalents, tomorrow. “BitMax Token (BTMX): 19 November 2019 BitMax Delisting BitMax removes BTMXP/BTC, ETH/USDC, ETH/PAX, BAT/ETH, ZEC/ETH, DASH/ETH, LAMB/ETH, ZIL/ETH, COVA/ETH, ETC/ETH, FET/ETH, LAMBS/ETH, XTZ/ETH.
Encrypted project calendar（November 20, 2019）
OKB (OKB): 20 November 2019 OKEx Cryptour Odessa Ukr “Join us in Odessa as we journey through Ukraine for our OKEx Cryptour!DAPS Token (DAPS): 20 November 2019 Partnership with SWFT “Everyone will have $DAPS mobile wallets, atomic swaps and much more starting on the 20th of November!”Aragon (ANT): 20 November 2019 Draft Proposal Deadline “Draft proposals for Aragon Network Vote #5 are due in one week, on November 20 at 16:00 UTC…”IOTA (MIOTA): 20 November 2019 Smart City Expo Wilfried Pimenta, our Director of Business Development, will be among the speakers at the AI & Blockchain Summit in the Smart City Expo Worl…Bitcoin Fast (BTCF): 20 November 2019 BTCF Snapshot Snapshot taken of BTCF holders at 8:00 am (GMT-6).Credits (CS): 20 November 2019 AMA AMA with Credits team at 15:00 UTC.
Encrypted project calendar（November 21, 2019）
Cardano (ADA): and 2 others 21 November 2019 Meetup Netherlands (AMS) “This meetup is all about how to decentralize a blockchain, the problems and differences between Proof-of-Work and Proof-of-Stake…”Cappasity (CAPP): 21 November 2019 Virtuality Paris 2019 “Cappasity to demonstrate its solution for the interactive shopping experience at Virtuality Paris 2019.”Horizen (ZEN): 21 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.OKB (OKB): 21 November 2019 OKEx Talks — Johannesburg “Join us the largest city of South Africa — Johannesburg where we will host our OKEx Talks on the 21st Nov.”IOST (IOST): 22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key tech.OKB (OKB): 22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “NEM (XEM): 21 November 2019 SME Thought Leadership “SME Thought Leadership Series Forum #2” in Selangor, Malaysia from 8:30 AM — 2:30 PM.Stellar (XLM): 21 November 2019 NYC Meetup “Stellar Blockchain Meetup ft. FIC Network and Sam Conner’s Meridian Recap” in NYC from 6–8 PM.Waves (WAVES): 21 November 2019 Edinburgh Workshop “Next Thursday, we’re running a practical workshop on building DeFi products & designing Smart Contracts in your city!”
Encrypted project calendar（November 22, 2019）
IOST (IOST): 22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key techOKB (OKB): 22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “Zenon (ZNN): 22 November 2019 Awareness Fund Payout “Distribution of the fund takes place every Friday until Pillars Lock-in Phase is completed.”
Encrypted project calendar（November 23, 2019）
Californium (CF) and 1 other: 23 November 2019 Greece Meetup “On November 23, the Greek #Cryptocurrency Community Meetup will take place in Greece!”
Encrypted project calendar（November 25, 2019）
0x (ZRX): 25 November 2019 0x V3 Proposal Live “The 0x v3 proposal was approved and will go live on Ethereum mainnet starting November 25th!”Dynamic Trading Rights (DTR): 25 November 2019 Chain Migration “On November 25 at 23:00 CET, TokensNet will make a migration of the $ELI token from Ethereum blockchain to Bitcoin Cash blockchain…”
Encrypted project calendar（November 27, 2019）
OKB (OKB): 27 November 2019 OKEx Cryptour Vinnytsia “Join us in Vinnytsia as we journey through Ukraine for our OKEx Cryptour!”Fetch.ai (FET): 27 November 2019 London Meetup “Join us on 27 November @primalbasehq to hear an exciting progress report as we prepare for the launch of our #mainnet”
Encrypted project calendar（November 28, 2019）
Horizen (ZEN): 28 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Encrypted project calendar（November 29, 2019）
Zenon (ZNN): 29 November 2019 Awareness Fund Payout “Distribution of the fund takes place every Friday until Pillars Lock-in Phase is completed.”
Encrypted project calendar（November 30, 2019）
Ethos (ETHOS): 30 November 2019 (or earlier) Rebranding “In November, we unveil the broker token, a dynamic utility token to power our commission-free crypto trading and broker platform, Voyager.”Digitex Futures (DGTX): 30 November 2019 Public Testnet Launch “…We can expect to see the world’s first zero-commission futures trading platform live on the Ethereum public testnet from 30th November.”Monero (XMR): 30 November 2019 Protocol Upgrade “Preliminary information thread regarding the scheduled protocol upgrade of November 30.”Chiliz (CHZ): 30 November 2019 (or earlier) Fiat to CHZ Exchanges “We will add another two fiat to $CHZ exchanges in November…”Skrumble Network (SKM): 30 November 2019 (or earlier) P2P & Group Calling “P2P & Group Video Calling,” during November 2019.Aergo (AERGO): 30 November 2019 (or earlier) Mainnet 2.0 Upgrade Mainnet 2.0 Protocol update by end of November.Akropolis (AKRO): 30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.”Nash Exchange (NEX): 30 November 2019 (or earlier) Mobile Strategy Phase 2 “Phase 2 of our mobile strategy will be live soon with our wallet and portfolio app hitting stores in November!”Akropolis (AKRO): 30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.”Pakcoin (PAK): 30 November 2019 Staking Mobile App Android app for staklet is going to be launched on November 30th.
Encrypted project calendar（December 1, 2019）
Auxilium (AUX): 01 December 2019 AUX Interest Distribution Monthly interest distribution by Auxilium Interest Distribution Platform for coinholders. Also supports charity.I/O Coin (IOC): 01 December 2019 Pos Reward Halving IOC block reward halving is happening on December 1st 2019.
Encrypted project calendar（December 2, 2019）
Bitcoin (BTC): 02 December 2019 CME Futures BTCX19 Bitcoin Futures Contract (BTCX19) settles on December 02, 2019.Waves (WAVES): 02 December 2019 Waves Exchange Launch “As of November 18, users will be able to import their accounts and seed phrases, and, on December 2, the new exchange will be launched.”BZLCOIN (BZL): 02 December 2019 New Website New website and pre-launch “Patron”.Decentraland (MANA): 02 December 2019 Creator Contest “Announcing the Creator Contest, from Dec 2–15. Submit your most creative interactive scenes for a share of $50k USD worth of prizes up.”
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U.S. SEC Takes Second Look at Bitwises Bi... New publication in StubFeed.com/news from blockonomi.com Come to see more... stubfeed.com • #stubfeed #stubfeednews #news #bitcoin #sec #crypto #takes #second #look #surprise #turn #events #seems #that #securities #exchange #commission #taking #fund #
What is Blockchain Technology?
How Blockchain technology originated?
Blockchain was developed by a group of individuals under the pseudonym, Satoshi Nakomoto in 2008, to make a decentralized, publicly accessible ledger for recording digital transactions.
Bitcoin is the first and most prevalent cryptocurrency launched, in view of the blockchain network. The Bitcoin blockchain was developed for facilitating the exchange of bitcoins across the network, while simultaneously maintaining a ledger of such transactions.
Other instances of Blockchain include Ethereum,Corda,Hyperledger,Monero,ZCash and so on.
What is Blockchain technology?
Blockchain, in basic language, is an accumulation of blocks (ledger), in a distributed network (chain), which is utilized to record digital data of any value. The data is stored across all the blocks in the network, consequently there is no single proprietor or focal vault controlling it.
Blocks save data like timestamp, transaction history and so on and the strategy of cryptography is used to change over information into a language not understandable by humans.
(Visit our website https://blockchainsimplified.com for use cases and implementation of Blockchain technology.)
How Blockchain technology works?
-Typically, Blockchain is made of several nodes (users). Every node communicates with another node as well as the system to issue transactions, for eg:- sending cryptocurrencies from one user to another user is a transaction. The history of this transaction is recorded by the blockchain, similarly every event has its record on the blockchain.
-Each node has a public and a private key. At whatever point a node requests a transaction, the combination of both these keys creates a digital signature.The transaction is then sent over the chain for approval. Once all the nodes provide their go ahead, the transaction stands validated. It is then placed in a new block which is included into the blockchain.
-The block now contains the hash key of its own, as well as its preceding block, generated by the unique hashing algorithm. It can basically be considered as the address of the block. Hashing essentially makes a string in an encrypted format. This string is the most basic and essential piece of the blockchain logic.
-Blockchain network follows the sequential transaction processing method. During any transaction, every block checks the hash of the previous block and authorises the transaction only if the hash matches.
-Any change in the data of the block modifies the hash of the block too. So,whenever a hacker tries to manipulate data in the block, its hash changes. When its superseding block tries to match the hash, there arises a discrepancy. Subsequently, the transaction stands dropped, breaking the whole chain, in this manner guaranteeing security and dependability.
(Visit our website https://blockchainsimplified.com for use cases and implementation of Blockchain technology.)
Why is Blockchain technology important?
Off late, blockchain is the most hummed word in industry hovers because of its numerous benefits and highlights. Listed beneath are few advantages on account of which enterprises are considering blockchain technology over others:
Decentralized network: The fact that there is no focal power to control the chain is one of the numerous reasons that makes blockchain network ideal. Participating nodes/individuals arrive at a consensus among themselves and transactions are affirmed after approval from all individuals.
Immutable structure : Data and blocks must be added to the blockchain network in sequence, which means no information can be modified or erased , thereby making it immutable.
Cryptography and hashing : The idea of hashing is used, where encryption algorithms help store the hash keys for each block. Tampering of information turns out to be highly inconceivable since each modification makes another hash, which breaks the whole chain, therefore preventing it from any manipulation.
(Visit our website https://blockchainsimplified.com for blockchain developmennt services)
Blockchain technology - Key Takeaways
Blockchain technology was initially developed for and limited only to cryptocurrencies. However, over the years it is making its prominence felt in various industry divisions like Finance, Supply Chain Management, Healthcare and so on. In the coming days, Blockchain technology is surely expected to rule over several other industries with its secure and reliable structure. Definitely the next big thing in technology.
About Blockchain Simplified
Blockchain Simplified is a Top blockchain development company in Pune - India which works on all major Blockchain requirements. We specialise in Blockchain, Web and Mobile development (One Stop Shop for all technology development needs). Our clientele includes Multiple Funded Start - Ups, SMBs and few MNCs few of which are NASDAQ and NSE listed.
Some of our work includes,
Blockchain based-
hubrisone.com - is a Live app with 100,000+ downloads, All-in-One Cryptocurrency current account. The entire development from scratch carried out by Blockchain Simplified.
All in one Platform - Complete responsibility of entire software development of the platform ,for a $1m funded blockchain start up, led by a team of serial entrepreneurs and tech veterans in Silicon Valley.
Well funded Blockchain startup - Blockchain Simplified helped a $6m funded American Blockchain startup to build the first blockchain protocol to leverage on-chain smart contracts to manage distributed storage of application data off-chain.
Multinational Bank - The company helped one of the top 3 ranking Multinational Banks to integrate various cryptocurrencies into their banking application.
and more...
Non-Blockchain-
SHC - Built entire platform and app from scratch for a $1m funded startup led by a team of Americans including PhD degree holders.
VMW - Developed app for a multi-national company providing mass factory-to-factory shipment services. App is being used by 53 of the Fortune 500 companies such as John Deere, Coca-Cola, Nissan.
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Expertise
Blockchain Development : Bitcoin, Ethereum, Hyperledger, Corda, and more. Mobile App Development : Android Native, iOS Native, React Native, Flutter, Xamarin. UI/UX Design : Strategy, Planning, UI/UX Design, Wireframing, Visual Designs. Web App Development : Node.JS, Angular, React.JS, PHP. Backend Development : MongoDB, MySQL, AWS, Firebase.
Visit our official website https://blockchainsimplified.com/ for more information.
[uncensored-r/CryptoCurrency] #BTC Bitcoin’s block reward halving is an event in which the rewards given out to BTC miners are ...
The following post by webnowcompany is being replicated because the post has been openly greylisted.
The original post can be found(in censored form) at this link:
np.reddit.com/r/ CryptoCurrency/comments/dygj3k
The original post's content was as follows:
[removed]
AMA Wrap-up & Summary
A very big thank you to everyone who participated in FinNexus’s first ever AMA session in the Wanchain Telegram! We were very pleased with the level of enthusiasm from AMA participants! We’re sorry to say that we weren’t able to answer every single question as we received close to 80 questions, and many of them were similar. However, we did our best to identify all the unique questions and answer them all as fully as possible. We have also selected the top ten 🏆🏆🏆winning questions🏆🏆🏆 of the AMA who’s askers will be receiving $20.00 worth of FNC each at the Wanchain address they submitted after the token generation event scheduled in January.
(Feel free to ask any other questions in response to this post!)
TOP TEN QUESTIONS:
1.🏆 What’s special about Finnexus vs. others in the space? @oluap5773
Our closest competitors are traditional financial institutions which offer low risk, non blockchain based stable return and fixed return products. Our other competitors would be platforms such as Binance and Compound which offer centralized or decentralized stable return products based on crypto lending businesses.
FinNexus has a unique focus on assets with real value built on blockchain infrastructure, which is rare in our other DeFi projects. Unlike Binance and Compound whose stable return products are based on crypto lending businesses, the assets we issue include those based on both real world and crypto businesses, which gives users access to reliable assets which are not correlated with the performance of crypto markets. And unlike traditional institutions, all our products are built on blockchain, which enables them to make use of all the blockchain’s advantages.
2. 🏆 What do you think of the future of DeFi in this space? @salmanmbstu96
Our expectation of the future DeFi is mainly on the application level rather than a technical one.
- Borrowing and Lending cannot be everything about DeFi. The growth of the DeFi should be largely diversified to other assets and business models.
- The risks in the DeFi world is similar, in other words, most of the DeFi models are facing the same systematic risks, which are with high risk and high expected return characteristics. In cases when the bitcoin collapses, every businesses and scenarios will be affected. This is not healthy.
- The DeFi applications are not so user-friendly. One has to take some time to learn how to deal with one decentralized product.
A leading project in the future should have the ability to solve the problems above. Blockchain is a great technology, while the combination with finance cannot avoid the basic logic and be isolated from the successful scenarios and models we built. Different models here mean different application scenarios in the financial world, like the equity rights, debenture rights, derivatives or other beneficiary rights.
The centralized or decentralized cannot be questions like yes or no. During the process of development, there may be something in between. On one hand it is built in a decentralized way and smart contracts are triggered automatically; while on the other hand, it is adapting the realistic that some parts of transactions or measurements must be under centralized regulations. We would like to call it Open Finance, as it is open to both the crypto assets on the blockchain, and the assets off the chain while restructuring their parts in a decentralized way.
In the future, we believe that there will be leading projects, that can bridge the blockchain technology and real world assets, diversify the systematic risks while attracting more users, and be user friendly that the nonprofessional may easily operate.
3. 🏆 Give me reason’s why should I invest in #FinNexus? @cryptococuk01
I hope you read the write paper of FinNexus and got understandings on what FinNexus is about to do. FNC will be the sole token in the FinNexus ecosystem. It is a kind of hybrid token, like a utility token but also benefiting from FinNexus development.
FinNexus will work as the financial product supermarket, Broker, Investment Banker or something alike. It will gain revenue directly from its operations.
Holders of FNC is eligible to the following rights or benefits (will be explained in details on the FinNexus official websites):
1)Rights of higher rate of returns on tokenized products;
2)Rights to invest in tokenized products with lower cost;
3)Benefits on the discount on the transaction commissions;
4)Derivative rights, like early settlement, resale or interest swaps;
5)Rights to interact with WAN;
6)Benefits on the FinNexus’ development; the revenue of FinNexus is from: Underwriting; Investment banking; Market making; Transaction commissions; Investment in tokenized products.
4. 🏆 How can FinNexus goal be explained in layman’s terms? @iamthethirdkind
You can actually get a clue from the project’s name ‘FinNexus’. The name is quite straightforward. FinNexus is the combination of the words ‘Finance’ and ‘Nexus’. It means financial connections. I will explain that in 3 aspects:
- To asset owners
Finance here includes the ‘traditional’ and the ‘decentralized’ and traditional finance is only traditional compared to DeFi. Here FinNexus is aiming at providing a solution, which we call it a protocol, where one can link the traditional financial world with the blockchain technology in an efficient, transparent and feasible way. For example, one with assets that have good expected cash flows will find a way to easily tokenize the assets on FinNexus.
-
To users
FinNexus will act as a financial product supermarket. Right now, the DeFi world has a problem that almost all of the crypto assets or financial products bear the same systematic risks, which means when the Bitcoin price collapses, every kind will join the plummet and even the financial models will cease to be valid. One of the reasons is that all assets are purely crypto-born. Moreover, the crypto interface is not so easy for a nonprofessional to operate. FinNexus’ goal is to provide diversification and convenience with assets of real value. Users will be able to invest in assets with various risks and returns here, and can easily choose to their preferences like in a supermarket. -
FinNexus Itself
FinNexus is concentrating in the application level, with the help of the two initiators. It will not operate or manage assets directly and will act as a channel or a hub, where supplies and needs are paired, while in later stages, it will strive to build the protocols or standards for all of these tokenizations and transactions.
5. 🏆 What are tokenized digital assets in FinNexus? How is it different from current digital assets? @hg144
The FinNexus team have done researches on the tokenization of real world assets. Right now, only a few groups like the credit assets, supply chain finance or other sub-dividable beneficial rights seem most feasible. These tokenized products may bear characteristics like equities, debentures, derivatives or other beneficiary rights.
The noticeable differences lie in the nature of the products. The returns are from the cashflow of the real world assets, rather than mining, staking, speculating, etc. FinNexus combines the decentralized and centralized means. The tokens have advantages on chain, while the product design and disclosure draw lessons from traditional finance.
Apart from that, there will also be products totally on chain, triggered by smart contracts, like crypto futures, options, and ETFs, with user-friendly interfaces.
6. 🏆 What are the advantages and disadvantages of FinNexus when developing in a large market like China? Do you have plans to develop other regions? @hiampluto
Advantages:
(1) The blockchain industrial environment and public opinion guidance has changed since China’s President Xi Jinping recent announcement. The word blockchain has been mentioned in social media time and time again, and almost everyone is trying to find out what it is. President made it clear that the country would encourage enterprises applying the technology into real world scenarios.
(2) China has the largest population and made great technological progress over the last decade. Blockchain projects, communities, exchanges, token funds, medias, and other participants have established a complete and dynamic ecosystem. FinNexus is easy to access to these resources.
(3) Financial market in China has been making great progress, which provides FinNexus with adequate talents, financial products and potential users.
(4) The two initiators Wanchain and SuperAtom (incubated by Cheetah Mobile) are all based in China. They both give FinNexus big financial, human-power and community support, with minimum communication cost in the same city.
Disadvantages:
(1) Activities like ICOs or other forms of public fund-raising are still restricted;
(2) The government’s attitude towards the security-like tokens and tokenization is still not clear;
(3) Language and time zone discrepancy may cause difficulties.
FinNexus is aiming to build a global open finance protocol. Blockchain should be boundless, and so will be our users and assets. Our first product’s basic asset is in SE Asia. We are now building teams, grouping communities, and recruiting regional ambassadors. Also, we are making continuous and effective interactions with the global communities of Wanchain and Bitrue.
7. 🏆 FinNexus’s team consists of experienced and brilliant individuals. What made them to unite together and work in unison for the fulfilment of it and how does it act as an advantage compared to other projects in terms of brainstorming and guidance? @cryptollll
Though key members of FinNexus team seem to have different educational backgrounds or working experiences, we come together with the same beliefs and goals. The same purpose has united us together and after grinding-in over one and a half years, we are working together energetically and harmoniously, which provides a foundation for the success of FinNexus. It is not the first time we work together and we knew each other with for long time. The details of resumes are on the website.
8. 🏆 Many blockchain projects and companies focus on making very complex systems, say they will revolutionize the society, and help the unbanked. Since you work directly in the area, how realistic do you think such statements are? @lucbazanse
The team has been working together for more than a year already. FinNexus is a project at the layer 3 level in the blockchain system, targeting at the application usage. The team believes that no matter how innovative or revolutionary a new technology is, if it fails to be conveniently applied in everyday use or have efficient or cost-saving solutions to users, we cannot call it a successful technology.
Therefore, we will build our application on top of the successful public chains and concentrate in providing financially practical and risk diversified products and user friendly applications. We doubt that the unbanked can be helped by a complex system. Unbanked group of people usually exist in the less developed regions that lack basic infrastructure. They may not well educated or lack the basic understanding of the technology or even ideas of modern financial or banking system.
Therefore, the application is most important. A successful project should provide them with friendly interfaces and convenient accesses, aiming directly to their basic needs, no matter how complex or innovative the technology is. That’s what FinNexus is trying to do, to provide what is needed the most in a simple and understandable way.
9. 🏆 Which way you will offer token sale?
We create a new way of the token sales together with launching our products. FinNexus’ will issue its CFNC (convertible FNC), which gives holders the right to convert into ABT in the conversion period. The holders of ABT are eligible to the benefit with an annualized rate of return at over 10%. ABT is called the Asset Backed Token in general, in specific, the return of the token is backed by the consumer loan assets in Indonesia, with the originator SuperAtom, which is initiated by the NYSE listed company Cheetah Mobile, as the basic asset. It has a traditional hierarchical design and the ABT is the token in the senior tranche. The details will be disclosed in the Offering Circular on the FinNexus website later.
We strongly recommend the interested blockchainers to check the details on www.finnexus.io
10. 🏆 Can you tell more about road-map for future developments? @toanphamhd
In phase one, before the end of 2019 or early in 2020, FinNexus is introducing ICTO, combining the fund raising process with its products. Instruments with the essentials of ABT are likely to be one of the major products offered to users, with different systematic risks from the crypto assets. Before the first quarter of 2020, other products like the borrowing and lending, hedging, ETF and staking are likely to be issued, as well as the other schemes of the ABT products. FinNexus will also cooperate with at least three of the token exchanges, crypto wallets or other channels as the sale portals.
In phase two, before the end of 2020, FinNexus will search for the qualified assets globally and combine the blockchain technology with the real world application scenarios in vaster occasions. And FinNexus work with other mainnet projects to launch its new products and interactions with the chain tokens. Moreover, FinNexus will facilitate the trade of the ABT and other similar products on the OTC market. The experience of the traditional financial market shows that the OTC transactions of these products have even higher volume than the bidding mode in the exchanges.
In the third phase, in three years, FinNexus’ goal is to build an open finance protocol. This protocol is established on Layer 3, targeted on the application level. It will provide the basic standard for the tokenization and transaction for all types of assets, both in traditional finance and in the crypto world. All assets that provide future returns will be programmable with blockchain in the future and FinNexus is defining a protocol that provides the standards and convenience in realization. Different assets may apply to various requirements in details, but the common language lying in is what FinNexus is chasing for.
While in the coming days, we would expect 1) the release of the detailed conversion and subscription rules on the website; 2) the release of the ABT offering circular to give a detailed explanation on the risks and returns; 3) setting the timetable for offering and listing of FNC.
RUNNER UP QUESTIONS
11. What is the current development progress of the project, and when is the main online release? @btc4life76
The first product will be released together with ICTO process, details of which you may check on the FinNexus website. Right now, the product is under the final stage of development and the team are working on the necessary information disclosure materials and the design of tokens on Wanchain. The planned release time will be before the end of this year or early next year.
12. “What are the recent change in high-level strategy in product design and development? How will it help the #FinNexus to move further with the safest & fastest Blockchain technology?” @ahmetumit08
FinNexus is a project built on layer 3 and concentrates on technological application. ‘We are the portal to the users and we need to make it simple, convenient, understandable and transparent’.
The advantage does not lie in the sophistication of the underlying technology, but in the application level. To establish an Open Finance Protocol, FinNexus has to move earlier and faster than the others, and at present, it is the first in the industry to put forward this concept.
In product development, we will make each code be used in real use case and keep improving in practice. In the beginning, we will built a layer 3 for assets tokenization and distribution, fee and interests distribution, buying and withdrawing. Users (business users) do not need to connect public chains, but use our SDK or API to interact with different chains. Recently we are focusing on protocols with smart contracts that asset tokenization could be easily deployed by FNX layer 3. And then we will focus on the protocol of decentralized token distribution. That means anyone who wants to sell assets tokens in FinNexus only need to download our SDK or connect our API.
13. How many different types of assets can be expected in the first quarter of 2020 . What will be the jurisdiction of assets and how will FinNexus avoid people from holding assets from restricted jurisdictions? @anon
As a project incubated by SuperAtom, the UangMe assets will work as an initiator, and it has the potential of the amount of 100M USD. In the meantime, similar assets in Malaysia are under discussion. In addition, there will be other types of products the users may expect in the first quarter of 2020, like crypto borrowing and lending products, easy-operating crypto-currency derivatives, ETF products, staking related products, etc., and they are all under development right now.
We have a legal team that help us deal with the jurisdiction issues. We will monitor the changing legal environment around the main countries and regions. KYC procedures are necessary for avoiding investors from holding assets from restricted jurisdictions.
14. How FinNexus and Wanchain both can get benefitted using each others protocol? @salmanmbstu96
FinNexus is the layer 3 which can make users, especially business users, to use Wanchain easily in financial aspects. And FinNexus focuses on different assets, that could grant Wanchain with more applications to run. In most of financial scenarios, multi-coin will be used, so we can use the cross-chain protocol of Wanchain. If Wanchain protocol is like a highway road, FinNexus protocol is working as an assembly line.
15. What do you think about Defi Landscape right now? @paraphan1992
Now, many DeFi projects are limited to the products and applications with the pure crypto assets. They can be highly decentralized and automated, but is it enough?
1) Borrowing and Lending is the first natural DeFi application scenario and contributes to over 90% of the application scenarios. It cannot be everything about DeFi. The growth of the DeFi should be largely diversified to other assets and business models.
2) The risks in the DeFi world is similar, in other words, most of the DeFi models are facing the same systematic risks, which are with high risk and high expected return characteristics. In cases when the bitcoin collapses, every businesses and scenarios will be affected. This is not healthy. Tokens transactions with high risks and the relating credit activities cannot be the whole world of DeFi. FinNexus is trying to introduce financial products with different types and levels of risks and expected returns, to enrich the products desperately needed in the industry.
3) The DeFi applications are not so user-friendly. One has to take some time to learn how to deal with one decentralized product. FinNexus aims at providing something that is transparent with the information needed for the investors to make judgment while easy to handle.
Right now, Maker is trying to move to Multi-Collateral Dai (MCD), a big step to make the DeFi model richer and healthier. Also they introduce Dai Savings Rate (DSR), which may have the potential to be regarded as one of the standard rates. In the future, we may witness wider real world assets and application scenarios in DeFi and that is the path that DeFi is bound to follow.
16. Can FinNexus support smart contracts? @btc4life76
The answer is yes, smart contracts will play important roles in the FinNexus products. The first phase of products will be built on Wanchain and according to the ICTO rules, the ABT conversion and the future payment of principal and interest of ABT will all be supported by smart contracts. Again, for details of ICTO please check our website. In later phases ,we will develop other products based on ETH or other chains according to the users’ requirements and asset characteristics; and smart contracts will be richer and more diversified.
17. Why do we need DEFI? What is the new thing that DeFi bring to us? Was your project born for that? @oluap5773
A: The decentralized blockchain technology needs application scenarios, and the finance needs the innovative technology to solve its own problems, thus here comes the merge of the two.
Bitcoin brings the blockchain technology into our sight and until now, it has 70% of the total value of crypto assets. Bitcoin is born to facilitate the financial transactions and most of the project henceforth cannot be isolated from the financial fields. There is an inevitable bond since the birth of the technology, and finance is always the natural experimental field of blockchain.
The problem of information asymmetry is always puzzling investors and regulators. Most of the solution came from a centralized way from the authorities before, while the result was much diversified among regions. With the emergence of blockchain, it provides an alternative solution to this long-lasting issue. It is trustworthy, non-modifiable and self-proved. Moreover, it is bondless and anti-authorized, which can largely reduce the cost of international transactions while enhancing the efficiency. The technology is self-organized, decentralized and automated. DeFi has the potential to change the governance structure and investment behavior in the financial world.
Tens of years ago, the internet has brought finance efficiency and popularization. Today blockchain is about to change the financial system again. It introduces the participants into a new territory that is bondless, decentralized, trustworthy, and equal. It will largely decrease the cost of centralized supervision, the risk of information asymmetry and the barrier among economic entities. Many business formats will change concerning the technology, including the economic entities, governance authorities, market intermediaries, exchanges and the transaction behavior of investors. For example, in the future, it is expected that the basic bookkeeping of a business entity will be on blockchain, and all of the operational activities like procurement, production, sales, inventories, invoices, taxations, employments, etc., will be dealt with and recorded in a decentralized way. Therefore, the auditors’ jobs are shifting from the bookkeeping test of accuracy to the verification of the validity of the chain.
Of course, FinNexus is born to be part of the big change, and we strive to be one of the driving forces of the financial decentralization progress. The goal of FinNexus is to build an Open Finance Protocol. The protocol is like a channel or a standard, to allow all kinds of assets, whether decentralized or centralized, whether with characteristics of equity, debenture, derivative or other hybrid, to find its path towards tokenization with the blockchain technology. By maintaining the basic business logic and learning from the traditional financial model, FinNexus will combine with the advantages of the blockchain technology, to make investors truly benefit from decentralization.
18. Which target users does FinNexus aim to serve? Will its technology be easy for participants to use but still ensure open, transparent and equal way? @paraphan1992
FinNexus aims to serve those who know blockchain and have invested in crypto assets or DeFi products, those who know real world investment but little about blockchain, and those who know little about crypto assets or financial investment but interested in the blockchain technology and curious on the virtual assets.
The meaning of ‘Nexus’ has many parts, and one is to make connections with different market participants. FinNexus will work through protocols and try to act as a channel. In future stages, it will make connections with the OTC markets providing fiat and crypto currency exchanges. Through these protocols, non-crypto users will be able to invest in the FinNexus products.
As FinNexus is built on Layer 3, the protocol will be built combining the decentralized and centralized solution. User-friendliness is a must. By means of easy interfaces, full information disclosure and integrated protocols, users with various degree of knowledge and different risk tolerance are able to get their suitable investment, easily and transparently.
whether decentralization or centralization, are means not targets.
Openness, transparency and equality are necessary to lower credit risks in financial activities. The subscription, transaction, interaction and distribution of financial products will be on chain in a decentralized way, implemented by smart contracts; while the information disclosure, real assets collateral and basic assets operation will be off chain in a centralized way. FinNexus protocols will work to achieve such goals.