Is It Safe to Invest in Bitcoin in 2020? (Hodl Calc ...

Here are some post-halving calculations. Can you all buy and hold $35 to $550 of new bitcoin each year? Feel free to check & correct my math!

Here are some post-halving calculations. Can you all buy and hold $35 to $550 of new bitcoin each year? Feel free to check & correct my math! submitted by anon2414691 to Bitcoin [link] [comments]

Here are some post-halving calculations. Can you all buy and hold $35 to $550 of new bitcoin each year? Feel free to check & correct my math! (x-post from /r/Bitcoin)

Here are some post-halving calculations. Can you all buy and hold $35 to $550 of new bitcoin each year? Feel free to check & correct my math! (x-post from /Bitcoin) submitted by cccmod to CryptoCurrencyClassic [link] [comments]

12.7 PATCH NOTES

Dear Escapers!
We are glad to present you the preliminary patch notes for the 0.12.7 patch!
---
Added:
---
• Customs expansion (expansion of industrial area, construction site, added many new explorable buildings, stationary weapons, new location for Reshala spawn etc.)
• Added new scav boss - Sanitar.
A former doctor, he worked in the health resort "Lazurny bereg", and before that in the TerraGroup laboratory. After the events that happened in Tarkov, he gathered a gang with former colleagues and operates on the "Shoreline". Actively uses professional skills in combat, quickly healing himself and the gang members. He uses various stimulants and medications, including those of his own production. He can quickly perform surgery by pulling out a bullet or applying a tourniquet on the field. Sometimes he is loyal to the Scavs and can leave a couple of first-aid kits or other medical supplies for his own group members on location
• New quests on Shoreline
• System for reporting suspicious players, unacceptable nicknames and game bugs abusers (on the post-match screen)
Improved AI behavior:
• Bots can pick up items now
• Improved AI behavior when they see bodies
• Bots now can pick up a second firearm from bodies
• AI now can greet each other or player scavs, showing their peaceful intentions
• Bots will eat\drink while in peaceful mode
• AI will perform a mag check when in peaceful mode
• Bots can check someone for friend or foe by aiming at him for some time, if they’re not sure of one’s intentions
• Bots will sprint while patrolling if they consider the spot being dangerous
• AI will be able to storm the player as a group, if he’s holding position and attacking them
• AI will try to avoid dangerous places
---
New weapons:
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• FN GL40 Grenade launcher
• Mossberg 590A1 Shotgun
---
New ammo:
---
• .366 AP-M
• .45 ACP Hydr-Shock
• 9x19 mm QuakeMaker
• 9x19 mm 7N31
• .45 ACP Lasermatch FMJ
• .45 ACP AP
• 7.62x51 mm M993
• 40x46 мм M381 HE
• 40x46 мм M386 HE
• 40x46 мм M406 HE
• 40x46 мм M433 HEDP
• 40x46 мм M441 HE
• 40x46 мм M576 buckshot
---
Added new stimulants:
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• 3-(b-TG)
• L1 (Noradrenaline)
• P22 (Specimen 22)
• AHF1-M
• Meldonin
• "Obdolbos" cocktail
• M.U.L.E
• Added an additional icon for the network connection status in case of high packet loss
• In the container slots window, the container tag is now displayed in the header
---
Iteration of improving and reworking the skill system:
---
New skill "Surgery"
• Reduces HP penalty for surgery
• Improved surgery speed
• (Elite) No HP penalty for the restored body part
• (Elite) Maximum increase in the speed of surgery
New skill "Aim drills"
• Increase of the aiming speed
• Decrease the volume of aiming
• (Elite) No hand shaking at any stamina value, first 2 seconds after aiming
• (Elite) Reduced hands shaking during tremor and fracture, the first 2 seconds after aiming
Rework of the “Strength” skill
• Increase all weight limits
• Increase the speed of the sprint
• Increase the jump height
• Increase the strength of the grenade throw
• Increase the strength of a melee attack
• (Elite) The weight does not take into account the weapons on the sling and on the back
• (Elite) Melee attack can be stronger than usual
Rework of the "Endurance" skill
• Increased feet stamina
• Reduced stamina consumption for jumping
• Increased holding breath time when ads
• Increased the speed of breath recovery
• (Elite) Maximum increase in breathing recovery rate
• (Elite) Breathing is no longer dependent on energy
• (Elite) Increased stamina reserve
Various fixes in old skills
• Added 5 HP to the health of “Chest” zone (from 80 to 85)
---
Optimization:
---
• Optimized the rendering of decals
• Fixed freezes that happened when the sound of thunder or the sound of grenades exploding was played
• Optimized the performance of the game server
• Fixed an issue with killing the boss of a group of raiders who appeared on the scene after interacting with the trigger was leading to errors on the server
• Minor optimizations on the first shot or hit
• Optimization of hideout sounds
• Fixes of errors that could potentially lead to different freezes
---
Fixed:
---
• Iteration of fixes and corrections in UI
• Bug with the PostFX menu that remains on the screen after closing the settings
• Bug playing the sound of contusion if the sound is turned off in the settings
• Bug of jerky animation of shooting weapons in the Hideout shooting range
• The passage of raiders on the laboratory through the doors
• A bug that allowed you to quickly move when constantly tapping the "Run" button when overweight
• AS VAL with the handle adapter "Rotor 43" is now impossible to fold
• Inability to exit the location via the paid exit “Car”, if you reconnect at the start of the exfil timer
• Bug with throwing away the magazine when reloading the weapon via the context menu
• Error 228 when receiving items from an expired email
• Formulas for calculating prices for items with its resource and its commissions
• After the reconnect, the equipment that was not searched become searched
• The sound of the visor on/off remained at one point, and does not follow the character
• Bug that wouldn't block buttons on the bottom panel after reconnecting as a Scav
• Interface block if you go to the “Map” screen without a map
• Bug when the "Receive all" button opened only the first and last message with items
• Various bugs with switching the sound from “outdoor " to "indoor", and back, when reconnecting
• Bug of not blocking an item after it was added to the merchant's sales table
• Cartridges from packs of cartridges found in raid now have the status " found in the raid”
• Error when studying items from the scav box
• Fixes in the flea Market
• The search will be updated if you delete and add an item to the wish list
• Loss of a player's nickname and rating from the offer line after applying filters
• The “search by item" option now resets the selected filters
• Bug displaying the loading spinner on top of the list of offers
• The mount without the “Found in raid" label ceased to be semitransparent (blocked) in the selection of the item for the offer, if you put and remove the mod on it
• Bug when the merchant's avatar was flattened
• Incorrect tag behavior on marked items for a flea market offer if you select multiple items from the container, closing and opening the container
• Horizontal scrollbar on the product sales screen
• Bug when the player couldn't put 2 identical weapons on the flea market if one of them was included in the starter kit for pre-order
• Error 1508 - You send bad items- when putting an empty pack of cartridges on a flea Market
• Bug, when for buying through a flea market goods from npc merchants needed items found in raid
Fixed in weapon presets
• Displaying the indicator “you have mods to build” when there are no mods for the build in the stash
• Bug when the build could have been built with the wrong mod that was not in the preset
• Weapon disassembly bug if you build the same preset twice with the same weapon
• Ability to select items that are blocked for purchase, via the presets by clicking the button “Select all”
• Packs of items are no longer displayed in the purchase lists of preset mods
• The purchase lists of presets no longer display items the player's own offers
• Added an error about lack of space when purchasing preset mods
• Bug when opening presets through the lower panel that caused the game client to freeze
Fixed in the hideout
• Various fixes in the bitcoin farm
• White authorization screen if you improve the pre-order version while in the hideout
• Bug when it was possible to install a filter with zero resource in the “Water collector” and it could not be uninstalled
• Calculation of fuel consumption time in the “Generator " zone
• Bug duplicating the canister icon, when selecting a canister, in the “Generator" zone
• Various bugs in group chat
• Bugs with the discharge of weapons in the stash
• Incorrect position of the fire mod pin and the turn of the barrel of the PPSH
• Visual bug for displaying a zero bonus in the base level zones in the Hideout
• Visual bug with the availability of time selection before the raid on the Laboratory screen
• A bug where the player could spawn outside the location
• Spamming error NullReferenceException: MuzzleManager
• An error that occurs every time after treatment or getting a fracture
• "Failed to create device file" error that occurs during client downtime
• Errors when assigning voice commands
• Spamming error when a large number of bots are active in the offline mode
• Various errors while loading in raid
• Various bugs and issues with Customs location
• Various bugs and improvements related to AI
• Fixed a bug when bots didn't follow a grenade throw with a voiceline
• Fixed a handful of bugs related to bots getting stuck
• Fixed a bug where a Gluhar would not react to a killed in the head ally
• Fixed a bug when bots tried to heal a blacked out body part
• Bots are now able to treat debuffs on blacked out body parts again
• Fixed a handful of bugs with bots knocking out doors
• Other AI related bug fixes and improvements
• Various localization fixes and improvements
• Other minor bugs and issues
---
Changed:
---
• Now it is possible to examine items from the construction requirements screen in the Hideout
• Added displaying the time before the bleeding effect disappears in the stash
• Now if you are not matched to the raid within 45 minutes, the search will be canceled
• Updated SV-98 animation, hold, new animations when entering and exiting a sprint, new hold in the menu and on the loading screen
• Updated PPSH animation, hold, and new animations when entering and exiting a sprint
submitted by lordwerneo to EscapefromTarkov [link] [comments]

Patch .12.7 (Today 14:00 MSK) - Notes & Discussion

Edit: For those on New Reddit, we're trying out the "Event" style post, so you should see a start time listed above this post in your local timezone. It seems like it's a hour ahead for me, for whatever reason. Let me know if it works for you.
The installation of the patch has finished!
The installation of the patch has begun!
Regards to CptQ for this count-down timer for those not on new.reddit:
#Countdown Timer

Per the Official EFT Discord:

Tomorrow [The 27th], at 14.00 Moscow time we plan to start installation of the update 0.12.7. The game will be stopped. Installation of the update will take approximately 4 hours, but can be extended if necessary.
Twitter Post: https://twitter.com/bstategames/status/1287475159432081408
Check out the latest Raid Episode (#4): https://www.youtube.com/watch?v=2u8hkw2UTy4
Help our Wiki Editors out: https://old.reddit.com/EscapefromTarkov/comments/hyftjg/your_patchly_wiki_post/

FAQ:

Below are the patch notes for .12.7 :

___
Patch 0.12.7:
Added:
New ammo:
Added new stimulants:

Optimization:
Fixed:
Fixed in weapon presets
Fixed in the hideout
Changed:
submitted by Fwopp to EscapefromTarkov [link] [comments]

Bitcoin Farming, Basic Arithmetic, and you

I have written this guide to dispel a common misconception I hear from this community - that putting more than one Graphics Card in your Bitcoin Farm is a great idea.
TLDR: The FIRST graphics card you put in your bitcoin farm generates a bitcoin every 20 hours. Every additional graphics card you put in your bitcoin farm generates a bitcoin every 333.33 hours. This information is misstated on the wiki and in many videos I've seen.
More Complicated Maths TLDR from u/Mekhazzio :
TLDR: The bitcoin farm has a base production rate that's much higher than the rate added by each additional graphics cards. So when investing, you shouldn't be looking at how fast the whole farm pays itself off, but how much time it takes your N>1 graphics cards to each pay for themselves, because otherwise you could have just been pocketing the pure profit from the base production rate the whole time.
At current therapist/flea-FiR values:
That is to say, adding a GPU to an already-running farm takes three weeks before you've stopped losing money on that GPU.

A pretty simple formula is utilized to determine Bitcoin Farming output. The payback period for your first graphics card is around 3 days. For each additional graphics card that you put in the payback period is over 20 days. The reason that this has confused so many people is that they credit the production from Graphics Card 1 to the payback period for the rest of the Graphics Cards.
Caveat 1: Escape from Tarkov is a video game and, at least for us players, not a business. Many video game players are completionists, and I will not begrudge anyone who wants to max out every single part of their hideout because it will feel like an achievement. This guide discusses the impact of bitcoin farming on your PMC's wallet. If you find utility in maxing out the bitcoin farm for the feeling of completion then you should do it and probably just close this guide and not worry about it.
Caveat 2: This guide will not address people who hatchet run or pistol run to put graphics cards in their secure container that will usually end up being non-FIR. There are too many variables (spawn rate, survival rate, replacement value of just doing normal Tarkov raids instead of hatchet runs) to do a decent analysis. If you end up with non-FIR graphics cards you should put them in your Bitcoin Farm.
Analysis:
The formula for bitcoin generation is as follows:
Let's simplify some unnecessary constants and make this look more like a normal mathematical function. All we have to do is multiply (1/49) * (0.15) to get this, which is equivalent and much easier to understand:
Now, let's get some ground rules for investment:
Caveat 3: Prices may change, blah blah blah, unless the IRL bitcoin market crashes the conclusions from this guide will still be accurate for the most part.
I will also note that I'm not going to include the cost for fuel needed for production. Because you can craft expeditionary fuel into mag boxes, as well as do other crafts on your workbench and med station while you have the power on, this cost is negligible. Furthermore, since my thesis is that putting more graphics cards in is not worth it, the fact is that I can prove this mathematically without even accounting for the entire cost category of fuel only strengthens my argument.
Using these assumed prices, let's take a look at some different cases.
Case 1:
Building a Bitcoin Generator and putting a single graphics card in.
To calculate cost, we add the cost of building the empty generator (300k) to the single graphics card (250k) to get 550k rouble investment.
Lets calculate revenue using our formula before:BTC Generated per Hour = 0.05 + 0.003 * (Graphics Cards - 1)BTC Generated per Hour = 0.05 + 0.003 * (1 Graphics Cards - 1)BTC Generated per Hour = 0.05 + 0.003 * (0)BTC Generated per Hour = 0.05
So we're generating 5% of a bitcoin every hour which means we'll get a bitcoin from our farm every 20 hours.
So, every 20 hours we are generating a product worth ~150k. Since we invested ~550k we need to sell:
550k investment / 150k roubles per bitcoin = 3.66 physical bitcoins in order to recoup our investment
Since we can't harvest bitcoins until they are full, we actually need to wait until we get 4 bitcoins at which point we'll be making a slight profit. Generating 4 bitcoins will take 4 bitcoins * 20 hours per bitcoin = 80 hours or a little more than 3 days.
Case 2:
Adding a second graphics card to our bitcoin farm.
Now, as discussed above I'm not worried about non-FIR graphics cards that you hatchet ran to find. If you have an FIR graphics card then you can sell it on the flea market for the 250k price that I'm using as an assumption above.
This concept is called opportunity cost and if you don't understand it I will troll you in the comments: Putting an FIR graphics card into your bitcoin farm is the same as purchasing one off of the flea market and putting it in your bitcoin farm because you had the opportunity to just sell your FIR graphics card for the same price that you can buy it.
With that out of the way, let's do some math on our 2 graphics card bitcoin farm:
BTC Generated per Hour = 0.05 + 0.003 * (Graphics Cards - 1)BTC Generated per Hour = 0.05 + 0.003 * (2 Graphics Cards - 1)BTC Generated per Hour = 0.05 + 0.003 * 1BTC Generated per Hour = 0.053
So, for the cost of 250k roubles we have increased our bitcoin per hour generation by 0.003.
The first graphics card that we added to our bitcoin farm generates us one bitcoin every 20 hours, as discussed above.
The second graphics card that we added to our bitcoin farm generates 0.003 bitcoins per hour. To calculate how many hours this takes to get 1 bitcoin we do the math of 1 / 0.003 = 333.33 hours. 333.33 hours / 24 hours per day is 13.88 or roughly 14 days.
In order to recoup our investment from the 250k roubles we used to get our second graphics card we divide 250k roubles invested by 150k roubles per bitcoin = 1.66 bitcoins. We generate one bitcoin every 14 days, so we can multiply 14 days * 1.66 bitcoins = 23 days.
This math will hold true for every additional graphics card because the function is linear.
Thus, the payback period for your 250k investment in adding a graphics card past the first one to your bitcoin farm is 23 days.
To reiterate: The FIRST graphics card you put in your bitcoin farm generates a bitcoin every 20 hours. Every additional graphics card you put in your bitcoin farm generates a bitcoin every 333.33 hours.
submitted by Death4Chairman20x70 to EscapefromTarkov [link] [comments]

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

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

Can I mine bitcoin?

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

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

Calculated my net worth and realized I hit a milestone by accident! How to celebrate?

I expected to hit $100k at age 33 in December based on my current savings rate, but I decided this morning to actually calculate what my net worth looks like, and three things I ignored actually bump me into that number! I don't usually think from the perspective of net, and just focus on my retirement accounts.
Purchased a car a month ago for $1000, but its resale value is about $2400-3,000.
My one lonely ignored bitcoin is apparently a little over 10% of my net worth right now (that dang thing was a gift when btc was like $3.50)
My tax return finally dumped itself into my account (yes I need to adjust my witholding for it to be that substantial).
I though I had months to figure out how to celebrate this awesome event! Fireyfemmes, do you celebrate these milestones? How?
My current idea is to buy 0.1% of my nw in silver so I have a physical token of my success that will also gain value over time!
Edit: Gold: I know it is worth more by ounce and might technically be a better investment, but I wouldn't expect my single blob of any metal to significantly outperform over any other investments I currently hold. Sorry if unclear, I simply prefer how silver looks and smells over gold, and that it gains however small value over time is just a bonus. Pls don't downvote my fellow femmes for suggesting gold!
submitted by reallylikelemons to FIREyFemmes [link] [comments]

WIBTA for asking my ex to pay me back the current value of my cryptocurrency?

So back in late 2017, my boyfriend at the time convinced me that it was a good idea to invest in cryptocurrency. I downloaded the Coinbase app, had no idea what I was doing, and lost a bunch of money. Lol.
Anyways, XRP (Ripple) was doing really well at the time, but it wasn’t available to buy on Coinbase yet. My boyfriend was using a different trading platform on which you could buy XRP, so I asked him if he could buy some XRP for me if I sent him my Bitcoins. He agreed, so I transferred all of my Bitcoins to him.
He invested it and well, XRP dropped significantly later in 2018. We both lost a lot of money, and my boyfriend said it was a good idea to leave the money in cryptocurrency instead of pulling out. I listened to him, and let him keep my XRP in his account instead of selling it.
In early January of 2019, we broke up, he got a new girlfriend, kicked me out of the apartment, and stopped speaking to me due to the request of his new girlfriend.
After him and his new girlfriend broke up, I reached out to him regarding my cryptocurrency. He didn’t remember how much XRP he held for me, so I sent him a screenshot thread of a text he had sent me awhile back showing how much he had bought in for me. I had 1,337 shares of XRP. When we were discussing it, the current value of XRP was $0.18 per crypto. He calculated it and said “okay, so I owe you $240.66 then.” I told him that he could just send me the amount of 1,337 XRP back, to which he said that all of his money is tied up in his business. He said that I would have to wait awhile before he could pay me back. I’m assuming that meant he sold my XRP that he was holding for me then?
I told him no worries, and asked him how long he thinks it would take for him to pay me back. He didn’t respond. This was back in early July.
The price of XRP is now worth $0.24 each, so about a 30% increase since him and I last talked. When I ask him to pay me back, would I be the asshole for asking him to pay me back the current value of the XRP instead of giving me $240.66?
submitted by lmaDork to AmItheAsshole [link] [comments]

Wandering From the Path? | Monthly Portfolio Update - August 2020

Midway along the journey of our life I woke to find myself in a dark wood, for I had wandered off from the straight path.
Dante, The Divine Comedy: Inferno, Canto I
This is my forty-fifth portfolio update. I complete this update monthly to check my progress against my goal.
Portfolio goal
My objective is to reach a portfolio of $2 180 000 by 1 July 2021. This would produce a real annual income of about $87 000 (in 2020 dollars).
This portfolio objective is based on an expected average real return of 3.99 per cent, or a nominal return of 6.49 per cent.
Portfolio summary
Total portfolio value $1 848 896 (+$48 777 or 2.7%)
Asset allocation
Presented visually, below is a high-level view of the current asset allocation of the portfolio.
[Chart]
Comments
The portfolio has increased in value for the fifth consecutive month, and is starting to approach the monthly value last reached in January.
The portfolio has grown over $48 000, or 2.7 per cent this month, reflecting the strong market recovery since late March
[Chart]
The growth in the portfolio was broadly-based across global and Australian equities, with an increase of around 3.8 per cent. Following strong previous rises, gold holdings decreased by around 2.2 per cent, while Bitcoin continued to increase in value (by 2.5 per cent).
Combined, the value of gold and Bitcoin holdings remain at a new peak, while total equity holdings are still below their late January peak to the tune of around $50 000. The fixed income holdings of the portfolio continue to fall below the target allocation.
[Chart]
The expanding value of gold and Bitcoin holdings since January last year have actually had the practical effect of driving new investments into equities, since effectively for each dollar of appreciation, for example, my target allocation to equities rises by seven dollars.
New investments this month have been in the Vanguard international shares exchange-traded fund (VGS) and the Australian shares equivalent (VAS). These have been directed to bring my actual asset allocation more closely in line with the target split between Australian and global shares set out in the portfolio plan.
As the exchange traded funds such as VGS, VAS and Betashares A200 now make up nearly 30 per cent of the overall portfolio, the quarterly payments they provide have increased in magnitude and importance. Early in the journey, third quarter distributions were essentially immaterial events.
Using the same 'median per unit' forecast approach as recently used for half yearly forecasts would suggest a third quarter payout due at the end of September of around $6000. Due to significant announced dividend reductions across this year I am, however, currently assuming this is likely to be significantly lower, and perhaps in the vicinity of $4000 or less.
Finding true north: approach to achieving a set asset allocation
One of the choices facing all investors with a preferred asset allocation is how strictly the target is applied over time, and what variability is acceptable around that. There is a significant body of financial literature around that issue.
My own approach has been to seek to target the preferred asset allocation dynamically, through buying the asset class that is furthest from its target, with new portfolio contributions, and re-investment of paid out distributions.
As part of monitoring asset allocation, I also track a measure of 'absolute' variance, to understand at a whole of portfolio level how far it is from the desired allocation.
This is the sum of the absolute value of variances (e.g. so that being 3 per cent under target in shares, and 7 per cent over target in fixed interest will equal an absolute variance of 10 per cent under this measure).
This measure is currently sitting near its highest level in around 2 years, at 15.0 per cent, as can be seen in the chart below.
[Chart]
The dominant reason for this higher level of variance from target is significant appreciation in the price of gold and Bitcoin holdings.
Mapping the sources of portfolio variances
Changes in target allocations in the past makes direct comparisons problematic, but previous peaks of the variance measure matches almost perfectly past Bitcoin price movements.
For a brief period in January 2018, gold and Bitcoin combined constituted 20 per cent, or 1 in 5 dollars of the entire portfolio. Due to the growth in other equity components of the portfolio since this level has not been subsequently exceeded.
Nonetheless, it is instructive to understand that the dollar value of combined gold and Bitcoin holdings is actually up around $40 000 from that brief peak. With the larger portfolio, this now means they together make up 17.2 per cent of the total portfolio value.
Tacking into the wind of portfolio movements?
The logical question to fall out from this situation is: to what extent should this drive an active choice to sell down gold and Bitcoin until they resume their 10 per cent target allocation?
This would currently imply selling around $130 000 of gold or Bitcoin, and generating a capital gains tax liability of potentially up to $27 000. Needless to say this is not an attractive proposition. Several other considerations lead me to not make this choice:
This approach is a departure from a mechanistic implementation of an asset allocation rule. Rather, the approach I take is pragmatic.
Tracking course drift in the portfolio components
As an example, I regularly review whether a significant fall in Bitcoin prices to its recent lows would alter my monthly decision on where to direct new investments. So far it does not, and the 'signal' continues to be to buy new equities.
Another tool I use is a monthly measurement of the absolute dollar variance of Australian and global shares, as well as fixed interest, from their ideal target allocations.
The chart below sets this out for the period since January 2019. A positive value effectively represents an over-allocation to a sector, a negative value, an under-allocation compared to target.
[Chart]
This reinforces the overall story that, as gold and Bitcoin have grown in value, there emerges a larger 'deficit' to the target. Falls in equities markets across February and March also produce visibly larger 'dollar gaps' to the target allocation.
This graph enables a tracking of the impact of portfolio gains or losses, and volatility, and a better understanding of the practical task of returning to target allocations. Runaway lines in either direction would be evidence that current approaches for returning to targets were unworkable, but so far this does not appear to be the case.
A crossing over: a credit card FI milestone
This month has seen a long awaited milestone reached.
Calculated on a past three year average, portfolio distributions now entirely meet monthly credit card expenses. This means that every credit card purchase - each shopping trip or online purchase - is effectively paid for by average portfolio distributions.
At the start of this journey, distributions were only equivalent to around 40 per cent of credit card expenses. As time has progressed distributions have increased to cover a larger and larger proportion of card expenses.
[Chart]
Most recently, with COVID-19 related restrictions having pushed card expenditure down further, the remaining gap to this 'Credit Card FI' target has closed.
Looked at on an un-smoothed basis, expenditures on the credit card have continued to be slightly lower than average across the past month. The below chart details the extent to which portfolio distributions (red) cover estimated total expenses (green), measured month to month.
[Chart]
Credit card expenditure makes up around 80 per cent of total spending, so this is not a milestone that makes paid work irrelevant or optional. Similarly, if spending rises as various travel and other restrictions ease, it is possible that this position could be temporary.
Equally, should distributions fall dramatically below long term averages in the year ahead, this could result in average distributions falling faster than average monthly card expenditure. Even without this, on a three year average basis, monthly distributions will decline as high distributions received in the second half of 2017 slowly fall out of the estimation sample.
For the moment, however, a slim margin exists. Distributions are $13 per month above average monthly credit card bills. This feels like a substantial achievement to note, as one unlooked for at the outset of the journey.
Progress
Progress against the objective, and the additional measures I have reached is set out below.
Measure Portfolio All Assets
Portfolio objective – $2 180 000 (or $87 000 pa) 84.8% 114.6%
Credit card purchases – $71 000 pa 103.5% 139.9%
Total expenses – $89 000 pa 82.9% 112.1%
Summary
What feels like a long winter is just passed. The cold days and weeks have felt repetitive and dominated by a pervasive sense of uncertainty. Yet through this time, this wandering off, the portfolio has moved quite steadily back towards it previous highs. That it is even approaching them in the course of just a few months is unexpected.
What this obscures is the different components of growth driving this outcome. The portfolio that is recovering, like the index it follows, is changing in its underlying composition. This can be seen most starkly in the high levels of variance from the target portfolio sought discussed above.
It is equally true, however, of individual components such as international equity holdings. In the case of the United States the overall index performance has been driven by share price growth in just a few information technology giants. Gold and Bitcoin have emerged from the shadows of the portfolio to an unintended leading role in portfolio growth since early 2019.
This month I have enjoyed reading the Chapter by Chapter release of the Aussie FIRE e-book coordinated by Pearler. I've also been reading posts from some newer Australian financial independence bloggers, Two to Fire, FIRE Down Under, and Chasing FIRE Down Under.
In podcasts, I have enjoyed the Mad Fientist's update on his fourth year of financial freedom, and Pat and Dave's FIRE and Chill episodes, including an excellent one on market timing fallacies.
The ASX Australian Investor Study 2020 has also been released - setting out some broader trends in recent Australian investment markets, and containing a snapshot of the holdings, approaches and views of everyday investors. This contained many intriguing findings, such as the median investment portfolio ($130 000), its most frequent components (direct Australian shares), and how frequently portfolios are usually checked - with 61 per cent of investors checking their portfolios at least once a month.
This is my own approach also. Monthly assessments allow me to gauge and reflect on how I or elements of the portfolio may have wandered off the straight way in the middle of the journey. Without this, the risk is that dark woods and bent pathways beckon.
The post, links and full charts can be seen here.
submitted by thefiexpl to fiaustralia [link] [comments]

My college essay on Bitcoin and computers. First Draft. Thought you all might like this.

I always thought computers were simple. At their fundamental level, they are just 1s and 0s. An invisible dance of yes’s and no’s running through a sheet of silicon at billions of times per second. Computers are amazing and unique machines that will forever be apart of our lives. Our sheer dependence on computers motivated me to research the topic? As my understanding of this concept grew, so did my curiosity. I started researching computers as much as I could. I would spend hours a day browsing Youtube and reading articles just to satisfy my interest. That’s why when my dad first brought up the topic of bitcoin during my freshman year, I wasn’t surprised to hear his enthusiasm. I had learned much about this currency over my couple years of research, but I knew very little about how to actually make money off it. He had been tracking the price for a few months and was considering buying a few, just to see what would happen. Little did either of us know; the price of this virtual coin would multiply nearly 30 times in just a few short months.
A few weeks passed and eventually he brought up the topic of buying bitcoin again. His initial interest inspired me to look more into currency and how it worked. I told my dad there was another way to make money off of bitcoins: Bitcoin miners. These impressive and powerful computers are precisely optimized to earn these coins, and I knew I could make one. I explained how this was my once in a lifetime opportunity, like how he explained to me that he missed out on investing in Apple in the 80s. “It could be a money-printing machine,” I joked. With our excitement peaked, we decided to split the $2,000 investment 50/50, and I started the buying process.
I started the process by buying the parts of the machine. I had learned that like Legos, a computer consists of simple components to make the whole. However, unlike an ordinary everyday computer, ours would have a concentrated task. Mining bitcoin is not a complicated process for a computer to do. In essence, by completing simple math problems as quickly as possible, a computer process’ bitcoin transactions from around the world and is rewarded in a tiny fraction of a coin. As more and more transactions take place, the higher the demand for processing, and the higher the reward.
I was lucky enough to know how to build the computer. However, what I was not prepared for was the constant troubleshooting and maintenance I would have to give to this project. Sometimes the computer would simply turn off randomly, sometimes a part was not detected, and other times it merely just ran at half its optimized rate. I learned how to fix issues where there was no logical reason for the problem. Like a calculator, I always thought a computer could never mess up. My hundreds of hours of troubleshooting and blind hope quickly changed my view. I put a vast amount of free time into the project, knowing that potential it had. After lots of hard work, long nights, and determination, I had finally completed my dream project.
I was proud of what I had created. The computer was placed in my room and was like a pet. The loud but rhythmic fans helped me fall asleep, and the heat kept me warm during the winter. From school, I would monitor the machine, and if it had run into an error, I would simply restart it from my phone. My plan was working, and in a little over half a year, our investment should turn into profit. In only a few months, we were already halfway to making our money back. We were lucky because the price of bitcoin itself had doubled since we started, going from nearly $10,000 to $20,000 in a few short months, but as I looked at my account, I had no bitcoin. A few days earlier, hackers had stolen $64 million dollars from the company I mined with.
I felt like a victim. I had done everything right. I built the computer perfectly, I managed everything, I put the time in, and I put the effort in. I was robbed, and I was discouraged. Forced with no other option, we restarted our operation. Bitcoin was still increasing in price, we thought, so there was no reason to stop now. Our operation had restarted and was going well, but for the first time since we started, the price of bitcoin was not doing so well. The bubble was about to burst. It began with my hack, which made national news and hurt the price. Although the price recovered in a few weeks, it was going down again, fast. Believing it would improve, my dad and I decided to hold and not sell. A month later, Bitcoin was back to $8,000 per coin. The fad was over, and we couldn’t even make a profit over our cost of electricity. Again, I was robbed. I did nothing wrong and still lost almost everything. I decided to put the computer in a box and wait a few months; however, the wait was worthless. The coin plateaued at about $10,000, and it simply was not sustainable to continue mining. A year later, we sold the computers for parts and managed to make back about half our initial investment. It was over.
I had lost over $1,000 and months of time and effort. However, as I moved on and started to reflect on the experience, I was the winner. I learned so much about computers and how they operate. In the end, I had learned many skills, from patience and compassion to planning and researching. I had learned not only to build a computer but to manage systems and multitask. I learned countless lessons and gained essential and unique skills that I hope will carry me throughout life. This unique experience has taught me to always keep trying at what I believe in. There’s always an award for doing whatever I think is right. I hope to bring these beliefs and lessons with me throughout life, as I learn and grow from what I was taught. Whenever people ask me what computers are, I always laugh and explain how a computer is just a bunch of simple lego bricks working together to do complicated tasks. However, inside I still have trouble answering this simple question. It is merely just parts working together, but a computer is so much more complicated and beautiful than that. Honestly, I still don’t understand them.
submitted by NetgearX6S4000 to Bitcoin [link] [comments]

ETHE & GBTC (Grayscale) Frequently Asked Questions

It is no doubt Grayscale’s booming popularity as a mainstream investment has caused a lot of community hullabaloo lately. As such, I felt it was worth making a FAQ regarding the topic. I’m looking to update this as needed and of course am open to suggestions / adding any questions.
The goal is simply to have a thread we can link to anyone with questions on Grayscale and its products. Instead of explaining the same thing 3 times a day, shoot those posters over to this thread. My hope is that these questions are answered in a fairly simple and easy to understand manner. I think as the sub grows it will be a nice reference point for newcomers.
Disclaimer: I do NOT work for Grayscale and as such am basing all these answers on information that can be found on their website / reports. (Grayscale’s official FAQ can be found here). I also do NOT have a finance degree, I do NOT have a Series 6 / 7 / 140-whatever, and I do NOT work with investment products for my day job. I have an accounting background and work within the finance world so I have the general ‘business’ knowledge to put it all together, but this is all info determined in my best faith effort as a layman. The point being is this --- it is possible I may explain something wrong or missed the technical terms, and if that occurs I am more than happy to update anything that can be proven incorrect
Everything below will be in reference to ETHE but will apply to GBTC as well. If those two segregate in any way, I will note that accordingly.
What is Grayscale? 
Grayscale is the company that created the ETHE product. Their website is https://grayscale.co/
What is ETHE? 
ETHE is essentially a stock that intends to loosely track the price of ETH. It does so by having each ETHE be backed by a specific amount of ETH that is held on chain. Initially, the newly minted ETHE can only be purchased by institutions and accredited investors directly from Grayscale. Once a year has passed (6 months for GBTC) it can then be listed on the OTCQX Best Market exchange for secondary trading. Once listed on OTCQX, anyone investor can purchase at this point. Additional information on ETHE can be found here.
So ETHE is an ETF? 
No. For technical reasons beyond my personal understandings it is not labeled an ETF. I know it all flows back to the “Securities Act Rule 144”, but due to my limited knowledge on SEC regulations I don’t want to misspeak past that. If anyone is more knowledgeable on the subject I am happy to input their answer here.
How long has ETHE existed? 
ETHE was formed 12/14/2017. GBTC was formed 9/25/2013.
How is ETHE created? 
The trust will issue shares to “Authorized Participants” in groups of 100 shares (called baskets). Authorized Participants are the only persons that may place orders to create these baskets and they do it on behalf of the investor.
Source: Creation and Redemption of Shares section on page 39 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Note – The way their reports word this makes it sound like there is an army of authorizers doing the dirty work, but in reality there is only one Authorized Participant. At this moment the “Genesis” company is the sole Authorized Participant. Genesis is owned by the “Digital Currency Group, Inc.” which is the parent company of Grayscale as well. (And to really go down the rabbit hole it looks like DCG is the parent company of CoinDesk and is “backing 150+ companies across 30 countries, including Coinbase, Ripple, and Chainalysis.”)
Source: Digital Currency Group, Inc. informational section on page 77 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
Source: Barry E. Silbert informational section on page 75 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
How does Grayscale acquire the ETH to collateralize the ETHE product? 
An Investor may acquire ETHE by paying in cash or exchanging ETH already owned.
Source: Creation and Redemption of Shares section on page 40 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Where does Grayscale store their ETH? Does it have a specific wallet address we can follow? 
ETH is stored with Coinbase Custody Trust Company, LLC. I am unaware of any specific address or set of addresses that can be used to verify the ETH is actually there.
As an aside - I would actually love to see if anyone knows more about this as it’s something that’s sort of peaked my interest after being asked about it… I find it doubtful we can find that however.
Source: Part C. Business Information, Item 8, subsection A. on page 16 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Can ETHE be redeemed for ETH? 
No, currently there is no way to give your shares of ETHE back to Grayscale to receive ETH back. The only method of getting back into ETH would be to sell your ETHE to someone else and then use those proceeds to buy ETH yourself.
Source: Redemption Procedures on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Why are they not redeeming shares? 
I think the report summarizes it best:
Redemptions of Shares are currently not permitted and the Trust is unable to redeem Shares. Subject to receipt of regulatory approval from the SEC and approval by the Sponsor in its sole discretion, the Trust may in the future operate a redemption program. Because the Trust does not believe that the SEC would, at this time, entertain an application for the waiver of rules needed in order to operate an ongoing redemption program, the Trust currently has no intention of seeking regulatory approval from the SEC to operate an ongoing redemption program.
Source: Redemption Procedures on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the fee structure? 
ETHE has an annual fee of 2.5%. GBTC has an annual fee of 2.0%. Fees are paid by selling the underlying ETH / BTC collateralizing the asset.
Source: ETHE’s informational page on Grayscale’s website - Located Here
Source: Description of Trust on page 31 & 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the ratio of ETH to ETHE? 
At the time of posting (6/19/2020) each ETHE share is backed by .09391605 ETH. Each share of GBTC is backed by .00096038 BTC.
ETHE & GBTC’s specific information page on Grayscale’s website updates the ratio daily – Located Here
For a full historical look at this ratio, it can be found on the Grayscale home page on the upper right side if you go to Tax Documents > 2019 Tax Documents > Grayscale Ethereum Trust 2019 Tax Letter.
Why is the ratio not 1:1? Why is it always decreasing? 
While I cannot say for certain why the initial distribution was not a 1:1 backing, it is more than likely to keep the price down and allow more investors a chance to purchase ETHE / GBTC.
As noted above, fees are paid by selling off the ETH collateralizing ETHE. So this number will always be trending downward as time goes on.
Source: Description of Trust on page 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
I keep hearing about how this is locked supply… explain? 
As noted above, there is currently no redemption program for converting your ETHE back into ETH. This means that once an ETHE is issued, it will remain in circulation until a redemption program is formed --- something that doesn’t seem to be too urgent for the SEC or Grayscale at the moment. Tiny amounts will naturally be removed due to fees, but the bulk of the asset is in there for good.
Knowing that ETHE cannot be taken back and destroyed at this time, the ETH collateralizing it will not be removed from the wallet for the foreseeable future. While it is not fully locked in the sense of say a totally lost key, it is not coming out any time soon.
Per their annual statement:
The Trust’s ETH will be transferred out of the ETH Account only in the following circumstances: (i) transferred to pay the Sponsor’s Fee or any Additional Trust Expenses, (ii) distributed in connection with the redemption of Baskets (subject to the Trust’s obtaining regulatory approval from the SEC to operate an ongoing redemption program and the consent of the Sponsor), (iii) sold on an as-needed basis to pay Additional Trust Expenses or (iv) sold on behalf of the Trust in the event the Trust terminates and liquidates its assets or as otherwise required by law or regulation.
Source: Description of Trust on page 31 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Grayscale now owns a huge chunk of both ETH and BTC’s supply… should we be worried about manipulation, a sell off to crash the market crash, a staking cartel? 
First, it’s important to remember Grayscale is a lot more akin to an exchange then say an investment firm. Grayscale is working on behalf of its investors to create this product for investor control. Grayscale doesn’t ‘control’ the ETH it holds any more then Coinbase ‘controls’ the ETH in its hot wallet. (Note: There are likely some varying levels of control, but specific to this topic Grayscale cannot simply sell [legally, at least] the ETH by their own decision in the same manner Coinbase wouldn't be able to either.)
That said, there shouldn’t be any worry in the short to medium time-frame. As noted above, Grayscale can’t really remove ETH other than for fees or termination of the product. At 2.5% a year, fees are noise in terms of volume. Grayscale seems to be the fastest growing product in the crypto space at the moment and termination of the product seems unlikely.
IF redemptions were to happen tomorrow, it’s extremely unlikely we would see a mass exodus out of the product to redeem for ETH. And even if there was incentive to get back to ETH, the premium makes it so that it would be much more cost effective to just sell your ETHE on the secondary market and buy ETH yourself. Remember, any redemption is up to the investors and NOT something Grayscale has direct control over.
Yes, but what about [insert criminal act here]… 
Alright, yes. Technically nothing is stopping Grayscale from selling all the ETH / BTC and running off to the Bahamas (Hawaii?). BUT there is no real reason for them to do so. Barry is an extremely public figure and it won’t be easy for him to get away with that. Grayscale’s Bitcoin Trust creates SEC reports weekly / bi-weekly and I’m sure given the sentiment towards crypto is being watched carefully. Plus, Grayscale is making tons of consistent revenue and thus has little to no incentive to give that up for a quick buck.
That’s a lot of ‘happy little feels’ Bob, is there even an independent audit or is this Tether 2.0? 
Actually yes, an independent auditor report can be found in their annual reports. It is clearly aimed more towards the financial side and I doubt the auditors are crypto savants, but it is at least one extra set of eyes. Auditors are Friedman LLP – Auditor since 2015.
Source: Independent Auditor Report starting on page 116 (of the PDF itself) of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
As mentioned by user TheCrpytosAndBloods (In Comments Below), a fun fact:
The company’s auditors Friedman LLP were also coincidentally TetheBitfinex’s auditors until They controversially parted ways in 2018 when the Tether controversy was at its height. I am not suggesting for one moment that there is anything shady about DCG - I just find it interesting it’s the same auditor.
“Grayscale sounds kind of lame” / “Not your keys not your crypto!” / “Why is anyone buying this, it sounds like a scam?” 
Welp, for starters this honestly is not really a product aimed at the people likely to be reading this post. To each their own, but do remember just because something provides no value to you doesn’t mean it can’t provide value to someone else. That said some of the advertised benefits are as follows:
So for example, I can set up an IRA at a brokerage account that has $0 trading fees. Then I can trade GBTC and ETHE all day without having to worry about tracking my taxes. All with the relative safety something like E-Trade provides over Binance.
As for how it benefits the everyday ETH holder? I think the supply lock is a positive. I also think this product exposes the Ethereum ecosystem to people who otherwise wouldn’t know about it.
Why is there a premium? Why is ETHE’s premium so insanely high compared to GBTC’s premium? 
There are a handful of theories of why a premium exists at all, some even mentioned in the annual report. The short list is as follows:
Why is ETHE’s so much higher the GBTC’s? Again, a few thoughts:

Are there any other differences between ETHE and GBTC? 
I touched on a few of the smaller differences, but one of the more interesting changes is GBTC is now a “SEC reporting company” as of January 2020. Which again goes beyond my scope of knowledge so I won’t comment on it too much… but the net result is GBTC is now putting out weekly / bi-weekly 8-K’s and annual 10-K’s. This means you can track GBTC that much easier at the moment as well as there is an extra layer of validity to the product IMO.
I’m looking for some statistics on ETHE… such as who is buying, how much is bought, etc? 
There is a great Q1 2020 report I recommend you give a read that has a lot of cool graphs and data on the product. It’s a little GBTC centric, but there is some ETHE data as well. It can be found here hidden within the 8-K filings.Q1 2020 is the 4/16/2020 8-K filing.
For those more into a GAAP style report see the 2019 annual 10-K of the same location.
Is Grayscale only just for BTC and ETH? 
No, there are other products as well. In terms of a secondary market product, ETCG is the Ethereum Classic version of ETHE. Fun Fact – ETCG was actually put out to the secondary market first. It also has a 3% fee tied to it where 1% of it goes to some type of ETC development fund.
In terms of institutional and accredited investors, there are a few ‘fan favorites’ such as Bitcoin Cash, Litcoin, Stellar, XRP, and Zcash. Something called Horizion (Backed by ZEN I guess? Idk to be honest what that is…). And a diversified Mutual Fund type fund that has a little bit of all of those. None of these products are available on the secondary market.
Are there alternatives to Grayscale? 
I know they exist, but I don’t follow them. I’ll leave this as a “to be edited” section and will add as others comment on what they know.
Per user Over-analyser (in comments below):
Coinshares (Formerly XBT provider) are the only similar product I know of. BTC, ETH, XRP and LTC as Exchange Traded Notes (ETN).
It looks like they are fully backed with the underlying crypto (no premium).
https://coinshares.com/etps/xbt-provideinvestor-resources/daily-hedging-position
Denominated in SEK and EUR. Certainly available in some UK pensions (SIPP).
As asked by pegcity - Okay so I was under the impression you can just give them your own ETH and get ETHE, but do you get 11 ETHE per ETH or do you get the market value of ETH in USD worth of ETHE? 
I have always understood that the ETHE issued directly through Grayscale is issued without the premium. As in, if I were to trade 1 ETH for ETHE I would get 11, not say only 2 or 3 because the secondary market premium is so high. And if I were paying cash only I would be paying the price to buy 1 ETH to get my 11 ETHE. Per page 39 of their annual statement, it reads as follows:
The Trust will issue Shares to Authorized Participants from time to time, but only in one or more Baskets (with a Basket being a block of 100 Shares). The Trust will not issue fractions of a Basket. The creation (and, should the Trust commence a redemption program, redemption) of Baskets will be made only in exchange for the delivery to the Trust, or the distribution by the Trust, of the number of whole and fractional ETH represented by each Basket being created (or, should the Trust commence a redemption program, redeemed), which is determined by dividing (x) the number of ETH owned by the Trust at 4:00 p.m., New York time, on the trade date of a creation or redemption order, after deducting the number of ETH representing the U.S. dollar value of accrued but unpaid fees and expenses of the Trust (converted using the ETH Index Price at such time, and carried to the eighth decimal place), by (y) the number of Shares outstanding at such time (with the quotient so obtained calculated to one one-hundred-millionth of one ETH (i.e., carried to the eighth decimal place)), and multiplying such quotient by 100 (the “Basket ETH Amount”). All questions as to the calculation of the Basket ETH Amount will be conclusively determined by the Sponsor and will be final and binding on all persons interested in the Trust. The Basket ETH Amount multiplied by the number of Baskets being created or redeemed is the “Total Basket ETH Amount.” The number of ETH represented by a Share will gradually decrease over time as the Trust’s ETH are used to pay the Trust’s expenses. Each Share represented approximately 0.0950 ETH and 0.0974 ETH as of December 31, 2019 and 2018, respectively.

submitted by Bob-Rossi to ethfinance [link] [comments]

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The Perfect Money account allows e-payment transactions really simple. Users are enabled to make online payments to other digital currency platforms and vice versa. This system may be made to enable automatic exchanges to all of the Internet companies concerned. Cryptocurrency offers you a simple method to convert Dogecoins to Perfect Money. The limit or the minimum amount allowed in an account is $1000 and the interest rate is up to 4 percent a month. Transferring money to and from an account is also achieved by currency conversion, bank transfers, other payment systems, and e-Vouchers. The one feature that helps Perfect Money stand out from the others is the opportunity of users to buy gold, dollars, and dollars in real-time.
Buy and sell dogecoin with PayPal
There may be a number of ways to buy and sell Dogecoin with Paypal. Paypal deals for huge bitcoin, Ripple, and other cryptocurrency platforms. However, there are some of the internet markets that have accrued invisible payments where you have to pay after doing the transaction, which in short is a trap. Here on our platform, you wouldn't get the sort of patronized investing because we believe in accountability for our customers. It will be very easy for you to use our platform. You just need to take a few steps. Next, you need to exchange money to dogecoin and hold it in the e-wallet that has a special code after you get it you can sell dogecoin with PayPal and pass it to USD dollars. Once again, don't go to the person who has secret costs and who has the best rates for our services.

https://preview.redd.it/xqcihljtk3j51.jpg?width=604&format=pjpg&auto=webp&s=d17e4c4260d9e46516e659c70ce68eaf86ea3542
submitted by Umairarbab02 to u/Umairarbab02 [link] [comments]

Spot or Margin Trading?

Spot or Margin Trading?

Spot Trading

This type of trading occurs in the spot market at the current price. When you are engaged in spot trading, you make a deal at an affordable bid and ask price, which is requested by other market participants. To complete a trade, you need to have available assets to pay for the trade by the settlement date.
For example, if you are going to make a purchase of BTC in the amount of $1,500, then you must make a deposit by the date of settlement of at least the specified amount. Usually the date is calculated according to the T + 2 trading day scheme. Otherwise, the exchange will refuse to enter the Bitcoin position.

https://preview.redd.it/tvytmqrptnp51.png?width=700&format=png&auto=webp&s=b0527f8994f4aff3477c5e9484c6c0254e97f2c2

Margin Trading

With margin trading, you borrow funds from a third party to increase your position. Margin and spot trading are different. With margin trading, you do not need the full amount of the transaction to open a position, you just need to have assets that will be on the margin of the position you are going to open.
For example, you are going to buy BTC for $1000. Some platforms are ready to provide you with up to 100x leverage. That is, you only need $10 on your account to trade Bitcoin for $1,000 BTC.
To keep a position open, you only need to hold 1% (with 100x leverage) of the contract amount. Depending on the course of the trade, you can open even more positions or withdraw profits.

What to choose?

Spot Trading: benefits

  1. Management of risks: trading occurs only with your own balance, which you actually own, that is, the impossibility of going into a negative.
  2. Guarantee: spot trading takes place only on own assets. In this way, the exchange ensures that you avoid over-leveraging.

Spot Trading: limitations

  1. Missed trading opportunities: even with confidence in the deal, you will not be able to earn 100% or more, you will only be able to earn the amount that your capital allows.

Margin Trading: benefits

  1. Possibility of increasing profits: the presence of leverage allows you to increase your trade up to 100 times in comparison with your capital.
  2. Low-frequency trading: an increased likelihood of trades identified in this type of trading.

Margin Trading: limitations

  1. Risks: Opportunity to lose more money than the initial investment.
  2. Liquidation: complete liquidation of a position with insufficient funds to cover losses.

What strategy should you follow?

It all depends on your usual trading style and your character: are you tolerant of risks, what knowledge about investing you have.
Choose the strategies that are right for you.
Check now Spot&Margin Fees on the Bitniex website page: https://bitniex.com/fees
submitted by Bitniex to Bitniex [link] [comments]

Every Way I Have Made Money Online Since 2015

I have been making money online since 2015. There are so many ways that I can't remember them all, but here is a list of most of them - including the most significant ones. Hope this helps you somehow. As I'm from Canada, many of these (but not all) are for Canadians.
From highest-earning to lowest, for your convenience:
Gig Earnings
Bitcointalk.org $50,000
LocalBitcoins affiliate (non-ref) $10,000
Reddit posting $5,000
HealthyWage personal challenge (non-ref) $3,400 (profit)
Dietbet $200/month
Slickdeals.net posting $2,000
Selling hoverboards $2,000
Bank signup bonus $300
Coinbase Earn (non-ref) $150
HealthyWage individual challenges (non-ref) $50/month
Selling LocalBitcoins trading guide $100
UberEats/DoorDash restaurant $100
Fiverr $100
Selling email list that I scraped $100
Black Friday meal kit deal $100
Craigslist study $75
Blockchain.com airdrop $65
Growing hydroponic lettuce at home $15/month
Tangerine bank (use Orange Key: 59103835S1 to get $50) $50
Crypto.com (non-ref) signup bonus $50
Coinberry (non-ref) signup bonus $30
Honeygain (non-ref) $20
Rakuten cash back Canada, USA (non-ref) $10
Amazon affiliate $10
Instead of telling the whole story of each method, and since you care most about the highest-earning opportunities, let's discuss those and if anyone has questions about something not mentioned in this post - don't hesitate to ask, I'm happy to explain.

Bitcointalk

This is by far my biggest earner. Basically, back in mid 2017, I realized that the crypto market was starting another bull run. I had previously learned that it was possible to make money advertising for companies by adding their custom signature to my account profile so that each post contains links to their website/products underneath it. They paid a lot more back then, because Bitcoin was only valued at around $700-1,000 when I started.
This forum also doesn't care about having multiple accounts - in fact, it's fully allowed. Some people have hundreds of accounts. Therefore, I quickly searched the web for people selling their accounts... and bought a bunch of decently-ranked ones such that I was able to post full-time essentially, making up to $5/post which only takes a minute or two. The best campaign I joined is one called DeepOnion, which paid almost $30,000 in about 1 month!!! All I had to do is make 10 posts a week per account, and they deposited their coin to my wallet. After it was added to an exchange, the price quickly rose and one night my portfolio value went from $3,000 to over $20,000. I sold literally at the peak! I also made money from Bitcoin paying campaigns (they pay in BTC as opposed to their token/coin). Another big score was a campaign called ATLANT, where I made well over $20,000 ...however, didn't sell my tokens and now they are worth a fraction of that. Oh well.
With the above said, I don't recommend doing this anymore, as the forum is filled with 3rd world spammers who realized that it was possible to make big money a couple of years ago, and now they have bots spamming constantly and applying to campaigns and such. I haven't posted there in a long time, probably over 6 months, because it wasn't worth it anymore. It was great while it lasted.

LocalBitcoins (non-ref)

Notice how most of my earning comes from crypto? :p
Well, I found a high-ranking Reddit post about Bitcoin that was ranked in the top 3 on Google for multiple good long-string keywords. In other words, many people (I'm talking hundreds) were finding it on a daily basis. I got my comment to the top spot, which includes an affiliate link and so over 5,000 people ended up signing up and I made a lot from it. My estimate is about $10,000 USD equivalent (pays in BTC daily), although could be more.

Reddit Posting

This is the same deal as Slickdeals, as explained below. However, after SD banned my accounts, since I had a high-karma Reddit account, I realized that my clients might be interested in advertising in "deals" subreddits (mostly Amazon, although it varied). Sure enough, they were and I got paid up to $300 for a single post in popular subreddits.

HealthyWage (non-ref)

This is an app that pays you to lose weight. There are a few different types of challenges, including personal, individual and team challenges. The personal challenge is the one I am currently focusing on, as I bet $125/mo over 12 months ($1500), and if successful, stand to win $4,900 or $3,400 profit. I started at 360 pounds, and must weigh out at 180 pounds or less after 1 year to win. (I know, it's lots of weight to lose, but there is tons of money at stake.)
If you join using my referral link, you get $40 added to your prize and I also get $40. By the way, most people who join make a mistake of betting too much or too little. For example, you might get the same winnings by betting $100/month or $500/month, because the algorithm caps out at a certain amount. With that said, use this calculator to get the exact amount that you should bet to maximize your ROI (click on "Calculate a Healthy Wager"). I didn't know about this before signing up, and ended up betting more than I had to make the same amount (although only $12).

Slickdeals

I had a startup similar to Groupon, and had made a few Slickdeals accounts because of that. One day while driving, it occurs to me that people might be willing to have me post on SD using my account since the traffic is so high. Well, I drove straight to the library and posted my Skype contact on about 30 threads on Warrior forum, and that same night I was getting contacts from China and it never stopped. This was way back in 2015, and I had 3 accounts and made $20 per post. I was doing about 1 post/day and sometimes getting $5 to do upvotes as well. All-in-all, after contracting out someone on Fiverr to automate the whole thing, my accounts ended up getting banned and that was that.

Selling hoverboards

During the hoverboard craze of 2015, I made a couple of rudimentary sites and managed to sell about 12 in total, making about ~$100 profit per sale, and selling the sites for $750 and $250 respectively for about $2,000 in total profit. This is the first time I used YouTube as a marketing medium, specifically paid product placement, which you can see here. This video sold 4 boards & I sold the site for $250, and the board cost about $350, so it was a good deal in the end.
Well, that about sums up my online earning history. I'm sure there are (many) other ways I've earned a buck, but simply don't remember them all. Again, don't hesitate to ask any questions you may have and I am more than happy to answer. Thanks for reading.
Edit: it's great to see that this post is interesting to many people
My best suggestions to make fast, easy money are the following:
  • Growing Hydroponic Lettuce this is a new one to me, but I recently started growing lettuce and not only is it super enjoyable, but it's much more cost-effective than buying it from the store. Checkout this video which shows how. All that is needed is a container with some 2 or 3 inch holes, some "net cups" to hold the lettuce in, and some liquid nutrients which are available on Amazon.
  • Coinberry (non-ref) I literally signed up, verified my account and got the bonus within an hour. There is a 3 day hold to withdraw funds, but it's an easy $20 and they also give an extra $10 "customer appreciation bonus" after your first deposit, so you get $30 total.
  • HealthyWage (non-ref) If you need to lose weight anyway, then you might as well get paid while doing so. I recommend doing a minimum amount of weight-loss over 6 months, to make it easier on yourself. When you signup with my link, we both get $40.
  • Dietbet no ref link, but this is a really good earner. I make about $200/month with it by playing in 9 games simultaneously.
  • Honeygain (non-ref) this one is entirely passive, and I highly recommend it. Simply download the app and you make money for browsing online, without doing anything else. I make about $50/year with just my phone. When you signup with my link, we both get $5.
  • Crypto.com (non-ref) this is a legit cryptourrency site that gives you $50 when you sign up & deposit $250. I know it's legit, because I just signed up a few days ago and already got my bonus. Simply buy their crypto in the app with your credit card & stake it for 6 months, and they give you $50.
submitted by Separate-Time to WorkOnline [link] [comments]

Bittrex Review: One of the First Crypto Exchanges| Final Part

Bittrex Review: One of the First Crypto Exchanges| Final Part

4. Transaction Fees

Transferring funds across the blockchain and withdrawing them from Bittrex costs a fee for customers, with the rate unique for every coin.
Bittrex Global charges no commission for deposits. Please keep in mind that some tokens or cash may be required to perform a transaction by a crypto coin or token’s community. Bittrex crypto exchange can’t keep away from it.
Every token or coin has a blockchain transaction fee that is built in it, and the Bittrex fee is a small amount to cover this charge. You can view the fee percentage for every coin or token by clicking Withdrawal near to the coin. There you will see a transaction fee you will be charged for withdrawing a specific coin or token.
In the example below, the withdrawal fee amounts to 1 USDT
https://preview.redd.it/209uz2p64zh51.jpg?width=974&format=pjpg&auto=webp&s=9ee9355c4d75d41931a3073b8a230bd1ffddaf08
The transaction fee for Bitcoin came to 0.00050000 BTC
https://preview.redd.it/vh7zbe884zh51.jpg?width=974&format=pjpg&auto=webp&s=e6293650b46a7e0ba661478bd2467471b8b213f9

5. Trading Fees

The fee schedule below provides the applicable rate based on the account's 30-Day Volume and if the order is a maker or taker.
Bittrex Global Fee30 Day Volume (USD)MakerTaker$0k - $50k0.2%0.2%$50k - $1M0.12%0.18%$1M - $10M0.05%0.15%$10M - $60M0.02%0.1%$60M+0%0.08%>$100MContact TAM representative
Trading expenses are incurred when an order is prepared by means of the Bittrex worldwide matching engine. While an order is being executed, the purchaser and the vendor are charged a rate primarily based on the order’s amount. The fee charged by Bittrex exchange is calculated by the formula amount * buy rate * fee. There aren't any charges for placing an order which is not being executed so far. Any portion of an unfinished order will be refunded completely upon order cancelation.
Prices vary depending on the currency pair, monthly trade volume, and whether the order is a maker or taker. Bittrex reserves the right to alternate fee quotes at any time, including offering various discounts and incentive packages.

Monthly Volume

Your buying and selling volume affects the fee you pay for every order. Our expenses are built to encourage customers who ensure liquidity in the Bittrex crypto exchange markets. Your buying and selling charges are reduced according to your trade volume for the last 30 years in dollars.
Bittrex calculates the 30-day value every day, updating every account's volume calculation and buying and selling charge between of 12:30 AM UTC and 01:30 AM UTC every day.
You can check your monthly trade volume by logging in and opening Account > My Activity.
https://preview.redd.it/n1djh2ob4zh51.jpg?width=974&format=pjpg&auto=webp&s=2eebb9c9ac63de207c4dd2e49bc45aeb53a8dec8

6. Withdrawing Funds

Withdrawing any type of funds is likewise simple. You can profit by buying and selling Bitcoin, Ether, or any other cryptocurrency.
You determine the crypto address—to which the amount will be credited—and the transaction amount. The withdrawal fee will be automatically calculated and shown right away.
After confirming the transaction, the finances will be sent to the specified addresses and all that you need to do is to wait for the community to confirm the transaction.
If the 2FA is enabled, then the user receives a special code (via SMS or application) to confirm the withdrawal.

7. How to Trade on Bittrex Global

Currency selling and buying transactions are performed using the Sell and Buy buttons, accordingly.
To begin with, the dealer selects a currency pair and sees a graph of the rate dynamics and different values for the pair.
Below the chart, there is a section with orders where the user can buy or sell a virtual asset.
To create an order, you just need to specify the order type, price, and quantity. And do not forget about the 0.25% trade fee whatever the quantity.
For optimum profit, stay with liquid assets as they can be quickly sold at a near-market rate effective at the time of the transaction. Bittrex offers no referral program; so buying and selling crypto is the easiest way to earn.
https://preview.redd.it/hopm6fih4zh51.jpg?width=1302&format=pjpg&auto=webp&s=68c0aaae86f64c3e6b9d351c3df2a9c331f94038

Order Types

Bittrex helps you alternate Limit and Stop-Limit orders.
A limit order or a simple limit order is performed when the asset fee reaches—or even exceeds—the price the trader seeks. To execute such an order, it is required that there's a counter market order on the platform that has the identical fee as the limit order.

Differences between Limit Order and Stop Limit Order

A stop limit order is a mixture of a stop limit order and a limit order. In such an application, charges are indicated—a stop charge and the limit.

Stop Limit Order Purpose

https://preview.redd.it/hlxvy9ti4zh51.jpg?width=1141&format=pjpg&auto=webp&s=064a77459a4dcb4555a885cbc56629aae10fc38b

Trade Terminal

Let’s discuss how you could trade conveniently with our service.
The key features include a user-friendly interface and precise currency pair statistics (timeframe graphs, network data, trade volumes, and so forth).
The platform’s top-notch advantage is handy, easy-to-analyze, customizable charts. There is also a column for quick switching between currency pairs and an order panel beneath the fee chart. Such an all-encompassing visual solution helps compare orders efficiently and in one place.
You can use the terminal in a day or night mode; when in the night mode, the icon in the upper-right corner changes and notice the Bittrex trading terminal in night mode is displayed. The main menu consists of 4 sections: Markets, Orders, Wallets, Settings.
Markets are the trade section. Bittrex allows handling over 270 currency pairs.
Orders. To see all open orders, go to OrdersOpen.
To see completed orders, go to OrdersCompleted.
Wallets. The Wallets tab displays many wallets for all cryptocurrencies supported by the exchange and the current balance of each of them.
After refilling the balance or creating a buy or sale order, you will see all actions in the section. Bittrex allows creating a separate wallet for every coin. Additionally, you can see how the coin price has changed, in terms of percentage, throughout the day.
Here’s what you can also do with your wallets:
  • Hide zero balances: hide currencies with zero balance
  • Green and red arrows: replenish balance/withdraw funds
  • Find: search for a cryptocurrency
The Settings section helps manage your account, verification, 2FA, password modification, API connection, and many more.

How to Sell

The process of selling crypto assets follows the same algorithm. The only difference is that after choosing the exchange direction, you need to initiate a Sell order. All the rest is similar: you select the order type, specify the quantity and price, and click Sell *Currency Name* (Sell Bitcoin in our case).
If you scroll the screen, the entire history of trades and orders will be displayed below.

LONG and SHORT

You can make a long deal or a short deal. Your choice depends on whether you expect an asset to fall or rise in price.
Long positions are a classic trading method. It concerns purchasing an asset to profit when its value increases. Long positions are carried out through any brokers and do not require a margin account. In this case, the trader’s account must have enough funds to cover the transaction.
Losses in a long position are considered to be limited; no matter when the trade starts, the price will not fall below zero with all possible errors. Short positions, in contrast, are used to profit from a falling market. A trader buys a financial instrument from a broker and sells it. After the price reaches the target level, the trader buys back the assets or buys them to pay off the initial debt to the broker.
A short position yields profit if the price falls, and it is considered unprofitable the price matches the asset value. Performing a short order requires a margin account as a trader borrows valuable assets from a broker to complete a transaction. Long transactions help gain from market growth; short from a market decline.

Trade via API

Bittrex also supports algorithmic trading through extensive APIs (application programming interface), which allows you to automate the trading process using third-party services.
To create an API key, the user must enable the two-factor authentication 2FA, verify their account, and log in to the site within 3 minutes.
If all the requirements of the system are fulfilled, you can proceed to generate the API key. Log in to your Bittrex account, click Settings. Find API Keys. Click Add new key (Create a new key).
Toggle on / off settings for READ INFO, TRADE, or WITHDRAW, depending on what functionality you want to use for our API key.
Click Save and enter the 2FA code from the authenticator → Confirm.
The secret key will be displayed only once and will disappear after the page is refreshed. Make sure you saved it!
To delete an API key, click X in the right corner for the key that you want to delete, then click Save, enter the 2FA code from the authenticator and click Confirm.

Bittrex Bot, a Trader’s Assistant

Robotized programs that appeared sometimes after the appearance of cryptocurrency exchanges save users from monotonous work and allow automating the trading process.
Bots for trading digital money work like all the other bots: they perform mechanical trading according to the preset parameters.
Currently, one of Bittrex’s most popular trading bots is Bittrex Flash Crash Buyer Bot that helps traders profit from altcoin volatility without missing the right moment.
The program monitors all the market changes in the market every second; also, it even can place an order in advance. The Bittrex bot can handle a stop loss—to sell a certain amount of currency when the rate changes in a favorable direction and reaches a certain level.

8. Secure Platform

Bittrex Global employs the most reliable and effective security technologies available. There are many cases of theft, fraud. It is no coincidence that the currency is compared to the Wild West, especially if we compare the 1800s when cowboys rushed to the West Coast of America to earn and start something new in a place that had no rules.
Cryptocurrency is still wild. One can earn and lose money fast. But Bittrex has a substantial security policy thanks to the team’s huge experience in security and development for companies such as Microsoft, Amazon, Qualys, and Blackberry.
The system employs an elastic, multi-stage holding strategy to ensure that the majority of funds are kept in cold storage for extra safety.
Bittrex Global also enables the two-factor authentication for all users and provides a host of additional security features to provide multiple layers of protection.
Bittrex cold wallet: https://bitinfocharts.com/en/bitcoin/address/385cR5DM96n1HvBDMzLHPYcw89fZAXULJP

How to Pass IP Verification

To ensure higher security of your Bittrex Global account, the system requires all users to approve each new IP address through an email confirmation. This IP verification procedure is required every time you attempt to log in from a new IP Address.
Confirming your IP address.
https://preview.redd.it/rnl730z75zh51.jpg?width=971&format=pjpg&auto=webp&s=bd13fba0a844ab01cadc40003f5ea5de7439cbf9
The new IP address must be confirmed from the device that you are using to access Bittrex Global. This means that you must follow the CLICK HERE TO LOGIN link in an email on the device that you want to use to access your account.
https://preview.redd.it/tq9eje795zh51.jpg?width=607&format=pjpg&auto=webp&s=160b2ebfd1b9e0a287d4d2b99017dd45518ef2f7
To ensure even more security, Bittrex Global supports whitelisting of IP addresses and Crypto addresses. These two features can help protect the account in the event of credentials or API key loss.

How to Add IP Address to Whitelist

By setting one or more whitelisted addresses, you are telling Bittrex Global to only authorize trades or withdrawals from those IPs. This concerns both the global.bittrex.com web interface and API-based trades or withdrawals. To do this, click IP Whitelist in Site Settings.
https://preview.redd.it/m2klahja5zh51.jpg?width=971&format=pjpg&auto=webp&s=7cfb941ecb5284973baed1a2b0301459e36a0ab6

How to Add Crypto Address to Whitelist

By setting a withdrawal address, you are telling Bittrex Global to authorize withdrawals only to that address.
This concerns both the global.bittrex.com web interface and API based withdrawals.
Note that when opting into this feature, you need to specify a withdrawal address would like to withdraw funds from for every currency. To do this, click Withdrawal Whitelist in the Site Settings section. The example below shows a BTC address.
https://preview.redd.it/yrror8zd5zh51.jpg?width=974&format=pjpg&auto=webp&s=179dd7da9f6e59d3fca628cbfcd2c3962562f911

Afterword

Bittrex Global is a reliable and advanced platform for trading digital assets with a respected reputation, long history, and active market presence and development nowadays. The exchange is eligible to be used globally, including the US and its territories.
The legal component of Bittrex Global is one of the most legitimate among numerous crypto-asset exchanges.
The Bittrex team has had great ambitions and managed to deliver promises and more. The exchange staff comprises forward-thinking and exceptional individuals whose success is recognized in the traditional business and blockchain sector.
Bittrex's purpose is to be the driving force in the blockchain revolution, expanding the application, importance, and accessibility of this game-changing technology worldwide.
The exchange fosters new and innovative blockchain and related projects that could potentially change the way money and assets are managed globally.
Alongside innovation, safety will always be the main priority of the company. The platform utilizes the most reliable and effective practices and available technologies to protect user accounts. Bittrex customers have always primarily been those who appreciate the highest degree of security.
Because of the way the Bittrex trading platform is designed, it can easily scale to always provide instant order execution for any number of new customers.
Bittrex supports algorithmic trading and empowers its customers with extensive APIs for more automated and profitable trading.
One of the common features which is not available on the exchange is margin trading. No leverage used however adds up to the exchange's stability and prevents fast money seekers and risky traders from entering the exchange.
Bittrex is a force of the blockchain revolution and an important entity of the emerging sector.
The full version
First part
Second part
submitted by mPrestige to revain_org [link] [comments]

Don't Fight the Trend (Sidenote - Fuck r/investing)

TF, like these corn balls out here removing posts that have any bit of a bear thesis? lmao
Getting to the point of my post, The Trend is Down....
Compiling data of closing points every two weeks from the start of 2020, each of the indexes are down-trending for the year & Bitcoin as well. Now the graphs which I've attached here hold little/next to no weight when looking for an indication on what position to take/when, but it's a piece of the puzzle when talking about the outlook for 2020.
Another piece to the puzzle, since that 'judgement day' post (referencing something I posted 3 weeks ago on investing, would link but that got removed along with my post on april 19th warning the clowns in there that they shouldn't be buying into USO/investing in oil lmfao); we have seen 6 green trading days & 9 red trading days on the S&P, signaling to me that investors are favoring selling in the 280-295 range much more so than buying. While the S&P has rallied above 290 on the back of NASDAQ/MAGA movement, it hasn't broken into/through this range with any conviction at all, it's actually forming a head and shoulder top in the trading range - seen here.
Further Dissecting the SPY - Price action is currently bouncing between the 50 & 200 EMA (EMA is quite significant as it weighs the price around volume traded, while SMA's simply calculate based on closing price day-to-day.) Friday's close placed us right under the 200 EMA (I view it as the ceiling currently.) and would point to downside come open market on monday (tomorrow.) *At the time of this post, futures opened with a gap down to 291 and has bounced back up to test this 2940 resistance. Will they push it above for a proper bull break before US markets open? Perhaps, maybe the bulls get their 300 touch; However, I see the indicators hinting to downside more convincing atm.*
Further DD of 'leading indicators' when looking at ST trends (DXY, BTC, XLF) -
XLF - (4Hr chart, rather than daily.) The Financial sector has been getting absolutely SLAMMED, like seriously, its almost worse than the beatdowns the small-caps have been receiving. Imo, this questionable performance from the financial sector says A LOT when considering investor uncertainty at the moment. On the four hour, this sector is currently bouncing between the 50 & 200 EMA's as they pinch closer together; which you could say is bullish, however, any and all uptrends on the chart have been broken & it leaves the financials out in no mans land (bearish.) It's currently pressed against it's 'LT' downtrend line (Established in early January after COVID was 'open public info'.) and made a double top rejection off of 23.70.
BTC- Touched 10k & crashed over 10% this weekend. As seen in the first screenshot I attached, BTC has been trading almost side by side with the general markets (Most reflective when looking at the S&P or NASDAQ.) I believe this to be a leading indicator of downside ahead similarly to how it was a leading indicator in mid-march when gauging 'how much downside was left in the markets.'
DXY - Key when considering short term deflation/inflation of assets. Has broken out above an immense resistance & has been confirming this as new support (people are hoarding cash, much more than they're spending, contrary to popular belief; I wont comment much tho, because tracking the DXY can get complex quick. We're taking it at face value here.) Watch for another major breakout (Would signify people hoarding cash, most likely stocks are getting liquidated at that same time. Comparing the timeline of the last breakout, March 9th- March 20th, this was the same timeline which the S&P took its major leg down from 300-220.)
TLDR - Stonks do go down, they've been maxing out for the last three weeks & deflation is around the corner. Positions - Heavy SPXU & SQQQ positions, AMD $46p May 22nd/ $40p June 5th, XLF $20.5p May 22th, MGM $10p June 5th
submitted by EXLR8_Reddit to wallstreetbets [link] [comments]

What is Delegated Harvesting and how does it work?

What is Delegated Harvesting and how does it work?

https://preview.redd.it/030pghigzkg51.png?width=1024&format=png&auto=webp&s=ee51e1f5bb87938ab610ee07951ad4daed798a20

Delegated harvesting lets you passively earn block rewards on-chain

Symbol has a noteworthy economic system that allows you to passively earn coin rewards just as if you were mining. This is better than staking rewards given by exchanges since you don’t need to put your coins on an exchange and you are earning actual block rewards.
On most other blockchains you have to operate a node in order to earn block rewards. That can be expensive and difficult for casual users. With our delegated harvesting system, your rights to earn rewards are based on how many XYM coins you are holding, but Symbol lets you delegate those rights to someone else’s node so they will earn rewards on your behalf. You’ll earn on-chain block rewards even when your computer is turned off, and the rewards are sent to you instantly, the moment they are earned. It requires a minimum balance of 10,000 XYM, and you can do it easily through a dashboard. Here’s how it all works.

Let’s chain some blocks

A quick block reward review: the process of adding transactions and other data to a blockchain is called creating blocks, and it’s what every computer in the network is trying to do. Blockchains pay a coin reward to the first account to create a new accepted block. The reward is called a block reward. If new coins are created to pay the block reward, it’s called mining. Symbol doesn’t create new coins for block rewards so it uses the term harvesting instead, but it’s nearly the same as mining.

We want proof

What’s the point of all this mining and harvesting? The problem is that anyone can join the network anonymously, so we would expect cheaters sending false data so they can spend the same coins twice or make other fake transactions. If we don’t know who is trustworthy, how do we choose who gets “write access” to account balances?
Bitcoin and many early protocols use a Proof of Work (POW) system. In POW every computer in the network is processing calculations as fast as possible until someone gets the right number. Whoever gets it first creates the next block. POW is effective at discouraging cheaters because it’s expensive to buy and power all the machines needed to mine profitably. Anyone who could make such a mining investment won’t want to risk being rejected.

Not that proof, different proof

The biggest drawback of POW is its insatiable consumption of electricity. It’s estimated that bitcoin alone consumes a quarter percent of global energy production. Unfortunately, that’s not a side effect, it’s the point; the more expensive it is to create blocks, the harder it is for bad actors to take over. In the early days users could mine POW coins on a laptop, but today it’s so expensive that only large industrial operators are competitive.
The most popular alternative system is Proof of Stake. POS is well-tested and has proven secure at large scale, and best of all, it requires no special energy usage. In a POS system, the protocol chooses an account at random to be the next block creator. However, an account’s chance of being chosen depends on the number of coins it holds. So users with the highest account balances have the highest chances of creating new blocks. This is a good way to ensure security, but one downside is that it encourages hoarding.

Proof of stake plus

Symbol uses a Proof of Stake Plus (POS+) system, which adds a few weighting factors on top of Proof of Stake to incentivize a healthier economic system. For example, POS+ gives an advantage to accounts that have many recent transactions in order to encourage network usage. So if you need to pay a lot of transaction fees, that expense can be offset somewhat by higher block rewards.
This addresses the hoarding problem, but not the expense and difficulty of running a node. We want everyone to participate in harvesting whether or not they are paying to run a node. Owning a minimum of 10,000 XYM automatically gives you the right to harvest, so the idea is to use your earning rights on someone else’s node. This is where delegating your stake comes in.

Keep your keys in your pocket

The tricky part is that if you gave a node operator direct access to your stake, they would be able to see your private key and possibly take your funds. Symbol solves this problem by creating a proxy account with a different private key that’s used only for delegated harvesting. This allows you to delegate your harvesting rights to any available node without allowing them access to your account.

https://preview.redd.it/lhv350glzkg51.png?width=1583&format=png&auto=webp&s=f2d9af8185d027221bf7d0531a667f6ada6731d4
There’s no minimum holding time or obligations for your coins, and you can spend them just as easily as non-delegated accounts as long as your balance is 10,000 or above. If your account drops below 10,000 it will simply stop harvesting with no side effects. If the node you are working with is going down a lot or otherwise annoying you, just use the dashboard to stop delegating or switch your delegation to another node any time you like.

What’s in a block reward?

There’s one more detail: any node that you have delegated to will keep 25% of the rewards earned by your delegated stake. This is their incentive to keep their node running. If you don’t like giving them a cut, you need to run your own node. Now the good part: every block reward on the Symbol public chain will contain new tokens added for inflation, incentives for early adopters, and will also contain all transaction fees paid. 100% of transaction fees are returned to harvesters in block rewards. The system is estimated to provide about 3% to 4% returns for delegated harvesters, although rewards could be lower or higher if there are a lot of transaction fees paid.

A quick hypothetical example

Let’s say there are 1 billion XYM tokens staked on the Symbol public chain. Your account balance is 20,000. This gives you about a 1 in 50,000 chance to be the harvester of any given block. Blocks are created every 15 seconds, which adds up to 5,760 blocks per day. Your account would be expected to harvest a block reward about once every 8.7 days.

Configuration of delegated harvesting

The Symbol public chain has a requirement of 10,000 XYM minimum balance for delegated harvesting, but if you are running your own Symbol blockchain you can change it to any token and any amount you want. You can also change the inflation rate, transaction fees, and other economy settings. In a corporate private network there is usually little need for decentralization and incentives since everyone on the network will be known and trusted. In this type of private chain you can even remove transaction fees. However, since Symbol is open-source, it’s also simple to run your own public version configured with any requirements you need.

On-chain staking rewards

Staking rewards are becoming more common on exchanges, and many users are coming to expect it. That’s good because staking rewards provide more opportunity for users to earn coins and encourage new users to enter the industry. Unfortunately these custodial exchanges and wallets require users to give up their keys. It’s nearly always more secure to hold tokens off exchanges, especially if holding long term. Symbol and its original version NEM are unique in their method of allowing users to delegate their stakes and earn rewards without giving up custody and without any risk of sharing their private keys. Delegated harvesting on Symbol is likely to be the best way in the blockchain industry for users to earn on-chain staking rewards without the chore and expense of running a node.
Source
submitted by charlesgwynne to CryptoCurrencyTrading [link] [comments]

What is Delegated Harvesting and how does it work?

What is Delegated Harvesting and how does it work?

https://preview.redd.it/h0y8o02yykg51.png?width=1024&format=png&auto=webp&s=0b476a069605414fa5f970f3e7d1aebd52d4cf31

Delegated harvesting lets you passively earn block rewards on-chain

Symbol has a noteworthy economic system that allows you to passively earn coin rewards just as if you were mining. This is better than staking rewards given by exchanges since you don’t need to put your coins on an exchange and you are earning actual block rewards.
On most other blockchains you have to operate a node in order to earn block rewards. That can be expensive and difficult for casual users. With our delegated harvesting system, your rights to earn rewards are based on how many XYM coins you are holding, but Symbol lets you delegate those rights to someone else’s node so they will earn rewards on your behalf. You’ll earn on-chain block rewards even when your computer is turned off, and the rewards are sent to you instantly, the moment they are earned. It requires a minimum balance of 10,000 XYM, and you can do it easily through a dashboard. Here’s how it all works.

Let’s chain some blocks

A quick block reward review: the process of adding transactions and other data to a blockchain is called creating blocks, and it’s what every computer in the network is trying to do. Blockchains pay a coin reward to the first account to create a new accepted block. The reward is called a block reward. If new coins are created to pay the block reward, it’s called mining. Symbol doesn’t create new coins for block rewards so it uses the term harvesting instead, but it’s nearly the same as mining.

We want proof

What’s the point of all this mining and harvesting? The problem is that anyone can join the network anonymously, so we would expect cheaters sending false data so they can spend the same coins twice or make other fake transactions. If we don’t know who is trustworthy, how do we choose who gets “write access” to account balances?
Bitcoin and many early protocols use a Proof of Work (POW) system. In POW every computer in the network is processing calculations as fast as possible until someone gets the right number. Whoever gets it first creates the next block. POW is effective at discouraging cheaters because it’s expensive to buy and power all the machines needed to mine profitably. Anyone who could make such a mining investment won’t want to risk being rejected.

Not that proof, different proof

The biggest drawback of POW is its insatiable consumption of electricity. It’s estimated that bitcoin alone consumes a quarter percent of global energy production. Unfortunately, that’s not a side effect, it’s the point; the more expensive it is to create blocks, the harder it is for bad actors to take over. In the early days users could mine POW coins on a laptop, but today it’s so expensive that only large industrial operators are competitive.
The most popular alternative system is Proof of Stake. POS is well-tested and has proven secure at large scale, and best of all, it requires no special energy usage. In a POS system, the protocol chooses an account at random to be the next block creator. However, an account’s chance of being chosen depends on the number of coins it holds. So users with the highest account balances have the highest chances of creating new blocks. This is a good way to ensure security, but one downside is that it encourages hoarding.

Proof of stake plus

Symbol uses a Proof of Stake Plus (POS+) system, which adds a few weighting factors on top of Proof of Stake to incentivize a healthier economic system. For example, POS+ gives an advantage to accounts that have many recent transactions in order to encourage network usage. So if you need to pay a lot of transaction fees, that expense can be offset somewhat by higher block rewards.
This addresses the hoarding problem, but not the expense and difficulty of running a node. We want everyone to participate in harvesting whether or not they are paying to run a node. Owning a minimum of 10,000 XYM automatically gives you the right to harvest, so the idea is to use your earning rights on someone else’s node. This is where delegating your stake comes in.

Keep your keys in your pocket

The tricky part is that if you gave a node operator direct access to your stake, they would be able to see your private key and possibly take your funds. Symbol solves this problem by creating a proxy account with a different private key that’s used only for delegated harvesting. This allows you to delegate your harvesting rights to any available node without allowing them access to your account.

https://preview.redd.it/tejgkdv1zkg51.png?width=1583&format=png&auto=webp&s=c41b9f431ce63a196dcbc0297a898233b530a297
There’s no minimum holding time or obligations for your coins, and you can spend them just as easily as non-delegated accounts as long as your balance is 10,000 or above. If your account drops below 10,000 it will simply stop harvesting with no side effects. If the node you are working with is going down a lot or otherwise annoying you, just use the dashboard to stop delegating or switch your delegation to another node any time you like.

What’s in a block reward?

There’s one more detail: any node that you have delegated to will keep 25% of the rewards earned by your delegated stake. This is their incentive to keep their node running. If you don’t like giving them a cut, you need to run your own node. Now the good part: every block reward on the Symbol public chain will contain new tokens added for inflation, incentives for early adopters, and will also contain all transaction fees paid. 100% of transaction fees are returned to harvesters in block rewards. The system is estimated to provide about 3% to 4% returns for delegated harvesters, although rewards could be lower or higher if there are a lot of transaction fees paid.

A quick hypothetical example

Let’s say there are 1 billion XYM tokens staked on the Symbol public chain. Your account balance is 20,000. This gives you about a 1 in 50,000 chance to be the harvester of any given block. Blocks are created every 15 seconds, which adds up to 5,760 blocks per day. Your account would be expected to harvest a block reward about once every 8.7 days.

Configuration of delegated harvesting

The Symbol public chain has a requirement of 10,000 XYM minimum balance for delegated harvesting, but if you are running your own Symbol blockchain you can change it to any token and any amount you want. You can also change the inflation rate, transaction fees, and other economy settings. In a corporate private network there is usually little need for decentralization and incentives since everyone on the network will be known and trusted. In this type of private chain you can even remove transaction fees. However, since Symbol is open-source, it’s also simple to run your own public version configured with any requirements you need.

On-chain staking rewards

Staking rewards are becoming more common on exchanges, and many users are coming to expect it. That’s good because staking rewards provide more opportunity for users to earn coins and encourage new users to enter the industry. Unfortunately these custodial exchanges and wallets require users to give up their keys. It’s nearly always more secure to hold tokens off exchanges, especially if holding long term. Symbol and its original version NEM are unique in their method of allowing users to delegate their stakes and earn rewards without giving up custody and without any risk of sharing their private keys. Delegated harvesting on Symbol is likely to be the best way in the blockchain industry for users to earn on-chain staking rewards without the chore and expense of running a node.

Source
submitted by charlesgwynne to CryptoCurrencyTrading [link] [comments]

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