Binance crypto exchange: 2020 review Features & fees ...

Bob The Magic Custodian



Summary: Everyone knows that when you give your assets to someone else, they always keep them safe. If this is true for individuals, it is certainly true for businesses.
Custodians always tell the truth and manage funds properly. They won't have any interest in taking the assets as an exchange operator would. Auditors tell the truth and can't be misled. That's because organizations that are regulated are incapable of lying and don't make mistakes.

First, some background. Here is a summary of how custodians make us more secure:

Previously, we might give Alice our crypto assets to hold. There were risks:

But "no worries", Alice has a custodian named Bob. Bob is dressed in a nice suit. He knows some politicians. And he drives a Porsche. "So you have nothing to worry about!". And look at all the benefits we get:
See - all problems are solved! All we have to worry about now is:
It's pretty simple. Before we had to trust Alice. Now we only have to trust Alice, Bob, and all the ways in which they communicate. Just think of how much more secure we are!

"On top of that", Bob assures us, "we're using a special wallet structure". Bob shows Alice a diagram. "We've broken the balance up and store it in lots of smaller wallets. That way", he assures her, "a thief can't take it all at once". And he points to a historic case where a large sum was taken "because it was stored in a single wallet... how stupid".
"Very early on, we used to have all the crypto in one wallet", he said, "and then one Christmas a hacker came and took it all. We call him the Grinch. Now we individually wrap each crypto and stick it under a binary search tree. The Grinch has never been back since."

"As well", Bob continues, "even if someone were to get in, we've got insurance. It covers all thefts and even coercion, collusion, and misplaced keys - only subject to the policy terms and conditions." And with that, he pulls out a phone-book sized contract and slams it on the desk with a thud. "Yep", he continues, "we're paying top dollar for one of the best policies in the country!"
"Can I read it?' Alice asks. "Sure," Bob says, "just as soon as our legal team is done with it. They're almost through the first chapter." He pauses, then continues. "And can you believe that sales guy Mike? He has the same year Porsche as me. I mean, what are the odds?"

"Do you use multi-sig?", Alice asks. "Absolutely!" Bob replies. "All our engineers are fully trained in multi-sig. Whenever we want to set up a new wallet, we generate 2 separate keys in an air-gapped process and store them in this proprietary system here. Look, it even requires the biometric signature from one of our team members to initiate any withdrawal." He demonstrates by pressing his thumb into the display. "We use a third-party cloud validation API to match the thumbprint and authorize each withdrawal. The keys are also backed up daily to an off-site third-party."
"Wow that's really impressive," Alice says, "but what if we need access for a withdrawal outside of office hours?" "Well that's no issue", Bob says, "just send us an email, call, or text message and we always have someone on staff to help out. Just another part of our strong commitment to all our customers!"

"What about Proof of Reserve?", Alice asks. "Of course", Bob replies, "though rather than publish any blockchain addresses or signed transaction, for privacy we just do a SHA256 refactoring of the inverse hash modulus for each UTXO nonce and combine the smart contract coefficient consensus in our hyperledger lightning node. But it's really simple to use." He pushes a button and a large green checkmark appears on a screen. "See - the algorithm ran through and reserves are proven."
"Wow", Alice says, "you really know your stuff! And that is easy to use! What about fiat balances?" "Yeah, we have an auditor too", Bob replies, "Been using him for a long time so we have quite a strong relationship going! We have special books we give him every year and he's very efficient! Checks the fiat, crypto, and everything all at once!"

"We used to have a nice offline multi-sig setup we've been using without issue for the past 5 years, but I think we'll move all our funds over to your facility," Alice says. "Awesome", Bob replies, "Thanks so much! This is perfect timing too - my Porsche got a dent on it this morning. We have the paperwork right over here." "Great!", Alice replies.
And with that, Alice gets out her pen and Bob gets the contract. "Don't worry", he says, "you can take your crypto-assets back anytime you like - just subject to our cancellation policy. Our annual management fees are also super low and we don't adjust them often".

How many holes have to exist for your funds to get stolen?
Just one.

Why are we taking a powerful offline multi-sig setup, widely used globally in hundreds of different/lacking regulatory environments with 0 breaches to date, and circumventing it by a demonstrably weak third party layer? And paying a great expense to do so?
If you go through the list of breaches in the past 2 years to highly credible organizations, you go through the list of major corporate frauds (only the ones we know about), you go through the list of all the times platforms have lost funds, you go through the list of times and ways that people have lost their crypto from identity theft, hot wallet exploits, extortion, etc... and then you go through this custodian with a fine-tooth comb and truly believe they have value to add far beyond what you could, sticking your funds in a wallet (or set of wallets) they control exclusively is the absolute worst possible way to take advantage of that security.

The best way to add security for crypto-assets is to make a stronger multi-sig. With one custodian, what you are doing is giving them your cryptocurrency and hoping they're honest, competent, and flawlessly secure. It's no different than storing it on a really secure exchange. Maybe the insurance will cover you. Didn't work for Bitpay in 2015. Didn't work for Yapizon in 2017. Insurance has never paid a claim in the entire history of cryptocurrency. But maybe you'll get lucky. Maybe your exact scenario will buck the trend and be what they're willing to cover. After the large deductible and hopefully without a long and expensive court battle.

And you want to advertise this increase in risk, the lapse of judgement, an accident waiting to happen, as though it's some kind of benefit to customers ("Free institutional-grade storage for your digital assets.")? And then some people are writing to the OSC that custodians should be mandatory for all funds on every exchange platform? That this somehow will make Canadians as a whole more secure or better protected compared with standard air-gapped multi-sig? On what planet?

Most of the problems in Canada stemmed from one thing - a lack of transparency. If Canadians had known what a joke Quadriga was - it wouldn't have grown to lose $400m from hard-working Canadians from coast to coast to coast. And Gerald Cotten would be in jail, not wherever he is now (at best, rotting peacefully). EZ-BTC and mister Dave Smilie would have been a tiny little scam to his friends, not a multi-million dollar fraud. Einstein would have got their act together or been shut down BEFORE losing millions and millions more in people's funds generously donated to criminals. MapleChange wouldn't have even been a thing. And maybe we'd know a little more about CoinTradeNewNote - like how much was lost in there. Almost all of the major losses with cryptocurrency exchanges involve deception with unbacked funds.
So it's great to see transparency reports from BitBuy and ShakePay where someone independently verified the backing. The only thing we don't have is:
It's not complicated to validate cryptocurrency assets. They need to exist, they need to be spendable, and they need to cover the total balances. There are plenty of credible people and firms across the country that have the capacity to reasonably perform this validation. Having more frequent checks by different, independent, parties who publish transparent reports is far more valuable than an annual check by a single "more credible/official" party who does the exact same basic checks and may or may not publish anything. Here's an example set of requirements that could be mandated:
There are ways to structure audits such that neither crypto assets nor customer information are ever put at risk, and both can still be properly validated and publicly verifiable. There are also ways to structure audits such that they are completely reasonable for small platforms and don't inhibit innovation in any way. By making the process as reasonable as possible, we can completely eliminate any reason/excuse that an honest platform would have for not being audited. That is arguable far more important than any incremental improvement we might get from mandating "the best of the best" accountants. Right now we have nothing mandated and tons of Canadians using offshore exchanges with no oversight whatsoever.

Transparency does not prove crypto assets are safe. CoinTradeNewNote, Flexcoin ($600k), and Canadian Bitcoins ($100k) are examples where crypto-assets were breached from platforms in Canada. All of them were online wallets and used no multi-sig as far as any records show. This is consistent with what we see globally - air-gapped multi-sig wallets have an impeccable record, while other schemes tend to suffer breach after breach. We don't actually know how much CoinTrader lost because there was no visibility. Rather than publishing details of what happened, the co-founder of CoinTrader silently moved on to found another platform - the "most trusted way to buy and sell crypto" - a site that has no information whatsoever (that I could find) on the storage practices and a FAQ advising that “[t]rading cryptocurrency is completely safe” and that having your own wallet is “entirely up to you! You can certainly keep cryptocurrency, or fiat, or both, on the app.” Doesn't sound like much was learned here, which is really sad to see.
It's not that complicated or unreasonable to set up a proper hardware wallet. Multi-sig can be learned in a single course. Something the equivalent complexity of a driver's license test could prevent all the cold storage exploits we've seen to date - even globally. Platform operators have a key advantage in detecting and preventing fraud - they know their customers far better than any custodian ever would. The best job that custodians can do is to find high integrity individuals and train them to form even better wallet signatories. Rather than mandating that all platforms expose themselves to arbitrary third party risks, regulations should center around ensuring that all signatories are background-checked, properly trained, and using proper procedures. We also need to make sure that signatories are empowered with rights and responsibilities to reject and report fraud. They need to know that they can safely challenge and delay a transaction - even if it turns out they made a mistake. We need to have an environment where mistakes are brought to the surface and dealt with. Not one where firms and people feel the need to hide what happened. In addition to a knowledge-based test, an auditor can privately interview each signatory to make sure they're not in coercive situations, and we should make sure they can freely and anonymously report any issues without threat of retaliation.
A proper multi-sig has each signature held by a separate person and is governed by policies and mutual decisions instead of a hierarchy. It includes at least one redundant signature. For best results, 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7.

History has demonstrated over and over again the risk of hot wallets even to highly credible organizations. Nonetheless, many platforms have hot wallets for convenience. While such losses are generally compensated by platforms without issue (for example Poloniex, Bitstamp, Bitfinex, Gatecoin, Coincheck, Bithumb, Zaif, CoinBene, Binance, Bitrue, Bitpoint, Upbit, VinDAX, and now KuCoin), the public tends to focus more on cases that didn't end well. Regardless of what systems are employed, there is always some level of risk. For that reason, most members of the public would prefer to see third party insurance.
Rather than trying to convince third party profit-seekers to provide comprehensive insurance and then relying on an expensive and slow legal system to enforce against whatever legal loopholes they manage to find each and every time something goes wrong, insurance could be run through multiple exchange operators and regulators, with the shared interest of having a reputable industry, keeping costs down, and taking care of Canadians. For example, a 4 of 7 multi-sig insurance fund held between 5 independent exchange operators and 2 regulatory bodies. All Canadian exchanges could pay premiums at a set rate based on their needed coverage, with a higher price paid for hot wallet coverage (anything not an air-gapped multi-sig cold wallet). Such a model would be much cheaper to manage, offer better coverage, and be much more reliable to payout when needed. The kind of coverage you could have under this model is unheard of. You could even create something like the CDIC to protect Canadians who get their trading accounts hacked if they can sufficiently prove the loss is legitimate. In cases of fraud, gross negligence, or insolvency, the fund can be used to pay affected users directly (utilizing the last transparent balance report in the worst case), something which private insurance would never touch. While it's recommended to have official policies for coverage, a model where members vote would fully cover edge cases. (Could be similar to the Supreme Court where justices vote based on case law.)
Such a model could fully protect all Canadians across all platforms. You can have a fiat coverage governed by legal agreements, and crypto-asset coverage governed by both multi-sig and legal agreements. It could be practical, affordable, and inclusive.

Now, we are at a crossroads. We can happily give up our freedom, our innovation, and our money. We can pay hefty expenses to auditors, lawyers, and regulators year after year (and make no mistake - this cost will grow to many millions or even billions as the industry grows - and it will be borne by all Canadians on every platform because platforms are not going to eat up these costs at a loss). We can make it nearly impossible for any new platform to enter the marketplace, forcing Canadians to use the same stagnant platforms year after year. We can centralize and consolidate the entire industry into 2 or 3 big players and have everyone else fail (possibly to heavy losses of users of those platforms). And when a flawed security model doesn't work and gets breached, we can make it even more complicated with even more people in suits making big money doing the job that blockchain was supposed to do in the first place. We can build a system which is so intertwined and dependent on big government, traditional finance, and central bankers that it's future depends entirely on that of the fiat system, of fractional banking, and of government bail-outs. If we choose this path, as history has shown us over and over again, we can not go back, save for revolution. Our children and grandchildren will still be paying the consequences of what we decided today.
Or, we can find solutions that work. We can maintain an open and innovative environment while making the adjustments we need to make to fully protect Canadian investors and cryptocurrency users, giving easy and affordable access to cryptocurrency for all Canadians on the platform of their choice, and creating an environment in which entrepreneurs and problem solvers can bring those solutions forward easily. None of the above precludes innovation in any way, or adds any unreasonable cost - and these three policies would demonstrably eliminate or resolve all 109 historic cases as studied here - that's every single case researched so far going back to 2011. It includes every loss that was studied so far not just in Canada but globally as well.
Unfortunately, finding answers is the least challenging part. Far more challenging is to get platform operators and regulators to agree on anything. My last post got no response whatsoever, and while the OSC has told me they're happy for industry feedback, I believe my opinion alone is fairly meaningless. This takes the whole community working together to solve. So please let me know your thoughts. Please take the time to upvote and share this with people. Please - let's get this solved and not leave it up to other people to do.

Facts/background/sources (skip if you like):



Thoughts?
submitted by azoundria2 to QuadrigaInitiative [link] [comments]

BittyTax - New open source project for cryptoasset accounting/audit/tax tools

BittyTax - New open source project for cryptoasset accounting/audit/tax tools

BittyTax
I wrote this code last year to do my own tax return as at the time there was nothing available for UK tax rules. I decided to make it open source here https://github.com/BittyTax/BittyTax.
It’s command line tools only at the moment, but I’m working on next version which will integrate directly into Excel to make it a bit easier to use.
I've done a lot of testing and some friends have used it for their tax returns, but bear in mind it is still in beta.
If you get any problems or there's any feature you would like added, please raise an issue here.
It currently handles these data file formats:
Wallets:
  • Electrum
  • Ledger Live
  • Qt Wallet (i.e. Bitcoin Core)
  • Trezor
Exchanges:
  • Binance
  • Bitstamp
  • Bittrex
  • ChangeTip
  • Circle
  • Coinbase
  • Coinbase Pro
  • Coinfloor
  • Cryptopia
  • Cryptsy
  • Gatehub
  • OKEx
  • Poloniex
  • TradeSatoshi
  • Uphold
  • Wirex
Explorers:
  • Etherscan
Historic price data for fiat/crypto are taken from these sources:
submitted by nanonanouk to BitcoinUK [link] [comments]

In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018

Developments in Financial Services

Regulatory Environment

General News


submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Where is better to do crypto trading?

Where is better to do crypto trading?
Not all countries treat cryptocurrencies well. Therefore, if you are thinking of trading in digital assets, it will be useful for you to know in which countries this is a good thing.
We made for you a rating guide. Please feel free to use it!

https://preview.redd.it/b8eio7mic0421.jpg?width=6000&format=pjpg&auto=webp&s=16233ffe35860f20d0f97d518981a5ef40f2853b

Let's start with the negative attitude

China
In China, history seems to be reversed. They are "witch-hunting" again... We mean crypto platforms hunting, of course. At the same time, the matter concerns not only crypto exchanges but also peer-to-peer platforms.
In order to trade in crypto assets, the local population uses VPN.
Bolivia
The Bolivian Financial Supervisory Authority System (ASFI) is quite cruel to those involved in cryptocurrency matters. In any case, there are already 60 people on trial for this type of activity.
Moreover, since 2014, Bolivia has considered both Bitcoin and all Altcoins as pyramidal schemes. This is the first country in the world to ban the use of absolutely any currency that would not be issued or controlled by the government.
Bangladesh
Bangladesh law enforcement agencies are actively seeking holders and traders since any cryptocurrency operations are prohibited. For them, all the methods seem to be good - except that there is no announcement of a reward for their heads.
The Central Bank of the country declared that cryptocurrencies cannot be legal means of payment.

... continue with the neutral attitude

Japan
The Japan Financial Services Agency (FSA) is now considering the possibility of changing the legal framework for cryptocurrencies.
It is important that Japan is the first country to adopt a bill that recognizes cryptocurrency as a means of legal payments.
South Korea
After considering the issue of banning trade in cryptocurrencies and ICO in 2017, because of the fear of possible money laundering and tax evasion, South Korea is developing a structure that will allow Korean companies to collect funds on crypto markets.
The market also suffered from bursts of manipulation schemes. In response to many questions, South Korea issued a direct ban, and only recently decided to partially accept crypto market with certain conditions.
Seychelles
Now in Seychelles, several large crypto exchanges are registered. They are probably attracted by the lack of regulation of cryptocurrency trading and the advantages of the offshore zone.
However, at the moment the status of Bitcoin in this region is controversial.
Belarus
Legal regulation of cryptocurrency in Belarus so far consists only of the Decree of the President of the Republic of Belarus of December 21, 2017 No. 8 "On the Development of the Digital Economy." The decree has not entered into force, so Belarusians have no formal permission to use cryptocurrency in any way.
But at the same time, the country's leadership is loyal to the crypto industry. It is possible that a trading space "paradise" will appear in Belarus.
Russian Federation
Since January 2018, the implementation of cryptocurrency legislation has been actively discussed in the country, but so far there has been little success in this area.
Singapore
The country plans to divide cryptocurrency actions into three categories. The first is utility tokens, the second is digital security tokens, and the third group will include payment tokens, that is, cryptocurrencies.
In general, many cryptocurrency startups complain about not too transparent legislation in Singapore. At the same time, the government is clearly keen on the idea of attracting crypto traders.

... and end with a positive attitude

Malta
Malta is one of the most cryptocurrency-friendly countries.
The group of islands exceeds the major players: Japan, Korea, China, USA and Belize. The country has advanced in the acceptance of the crypto industry, ahead of such former leaders as China and the United States.
Even Binance crypto exchange moves to Malta. It means a lot!
Great Britain
Great Britain is another country that has long entered the race for the title of world cryptocurrency capital.
"The UK competes with other financial centers around the world that are also striving to become the crypto capital, so it’s important that this regulation be implemented as soon as possible," said Zeeshan Feroz, Coinbase UK CEO, in a letter to CNBC
USA
Los Angeles - the first in the list of US cities that accepts Bitcoin. There are 878 companies working for cryptocurrency. New York is the second after Los Angeles.
Manhattan in New York took the first place in terms of crypto trading - 6.9%, followed by Chicago - 4.9%, Jacksonville - 4.2%, San Francisco - 3.5%, San Antonio - 3.1%, and Washington - 2.4%.
Switzerland
Switzerland launches the process of registering crypto exchangers. To legalize their business, companies need to obtain a license from the Swiss Financial Market Supervisory Authority (FINMA).
Australia
Crypto exchanges are legalized in Australia, and the country is progressing in establishing legislation that meets the challenges of the crypto industry.
In 2018, the Australian Transaction Reports and Analysis Centre (AUSTRAC) announced the implementation of reliable cryptocurrency exchange rules.
The new rules require that exchanges operating in Australia register with AUSTRAC, identify and verify users, keep accounts, and fulfill AML / CFT reporting obligations.
In the future, unregistered crypto platforms will be subject to criminal charges and financial penalties.
Such conditions will surely be attractive to traders who are attentive to their assets and want to keep them safe and sound.
submitted by PlasmaPay to u/PlasmaPay [link] [comments]

Trading Cryptocurrency Markets

Hello! My name is Slava Mikhalkin, I am a Project Owner of Crowdsale platform at Platinum, the company that knows how to start any ICO or STO in 2019.
If you want to avoid headaches with launching process, we can help you with ICO and STO advertising and promotion. See the full list of our services: Platinum.fund
I am also happy to be a part of the UBAI, the first educational institution providing the most effective online education on blockchain! We can teach you how to do ICO/STO in 2019. Today I want to tell you how to sell and transfer cryptocurrencies.
Major Exchanges
In finance, an exchange is a forum or platform for trading commodities, derivatives, securities or other financial instruments. The principle concern of an exchange is to allow trading between parties to take place in a fair and legally compliant manner, as well as to ensure that pricing information for any instrument traded on the exchange is reliable and coherently delivered to exchange participants. In the cryptocurrency space exchanges are online platforms that allow users to trade cryptocurrencies or digital currencies for fiat money or other cryptocurrencies. They can be centralized exchanges such a Binance, or decentralized exchanges such as IDEX. Most cryptocurrency exchanges allow users to trade different crypto assets with BTC or ETH after having already exchanged fiat currency for one of those cryptocurrencies. Coinbase and Kraken are the main avenue for fiat money to enter into the cryptocurrency ecosystem.
Function and History
Crypto exchanges can be market-makers that take bid/ask spreads as a commission on the transaction for facilitating the trade, or more often charge a small percentage fee for operating the forum in which the trade was made. Most crypto exchanges operate outside of Western countries, enabling them to avoid stringent financial regulations and the potential for costly and lengthy legal proceedings. These entities will often maintain bank accounts in multiple jurisdictions, allowing the exchange to accept fiat currency and process transactions from customers all over the globe.
The concept of a digital asset exchange has been around since the late 2000s and the following initial attempts at running digital asset exchanges foreshadows the trouble involved in attempting to disrupt the operation of the fiat currency baking system. The trading of digital or electronic assets predate Bitcoin’s creation by several years, with the first electronic trading entities running afoul of the Australian Securities and Investments Commission (ASIC) in late 2004. Companies such as Goldex, SydneyGoldSales, and Ozzigold, shut down voluntarily after ASIC found that they were operating without an Australian Financial Services License. E-Gold, which exchanged fiat USD for grams of precious metals in digital form, was possibly the first digital currency exchange as we know it, allowing users to make instant transfers to the accounts of other E-Gold members. At its peak in 2006 E-Gold processed $2 billion worth of transactions and boasted a user base of over 5 million people.
Popular Exchanges
Here we will give a brief overview of the features and operational history of the more popular and higher volume exchanges because these are the platforms to which newer traders will be exposed. These exchanges are recommended to use because they are the industry standard and they inspire the most confidence.
Bitfinex
Owned and operated by iFinex Inc, the cryptocurrency trading platform Bitfinex was the largest Bitcoin exchange on the planet until late 2017. Headquartered in Hong Kong and based in the US Virgin Island, Bitfinex was one of the first exchanges to offer leveraged trading (“Margin trading allows a trader to open a position with leverage. For example — we opened a margin position with 2X leverage. Our base assets had increased by 10%. Our position yielded 20% because of the 2X leverage. Standard trades are traded with leverage of 1:1”) and also pioneered the use of the somewhat controversial, so-called “stable coin” Tether (USDT).
Binance
Binance is an international multi-language cryptocurrency exchange that rose from the mid-rank of cryptocurrency exchanges to become the market dominating behemoth we see today. At the height of the late 2017/early 2018 bull run, Binance was adding around 2 million new users per week! The exchange had to temporarily disallow new registrations because its servers simply could not keep up with that volume of business. After the temporary ban on new users was lifted the exchange added 240,000 new accounts within two hours.
Have you ever thought whats the role of the cypto exchanges? The answer is simple! There are several different types of exchanges that cater to different needs within the ecosystem, but their functions can be described by one or more of the following: To allow users to convert fiat currency into cryptocurrency. To trade BTC or ETH for alt coins. To facilitate the setting of prices for all crypto assets through an auction market mechanism. Simply put, you can either mine cryptocurrencies or purchase them, and seeing as the mining process requires the purchase of expensive mining equipment, Cryptocurrency exchanges can be loosely grouped into one of the 3 following exchange types, each with a slightly different role or combination of roles.
Have you ever thought about what are the types of Crypto exchanges?
  1. Traditional Cryptocurrency Exchange: These are the type that most closely mimic traditional stock exchanges where buyers and sellers trade at the current market price of whichever asset they want, with the exchange acting as the intermediary and charging a small fee for facilitating the trade. Kraken and GDAX are examples of this kind of cryptocurrency exchange. Fully peer-to-peer exchanges that operate without a middleman include EtherDelta, and IDEX, which are also examples of decentralized exchanges.
  2. Cryptocurrency Brokers: These are website or app based exchanges that act like a Travelex or other bureau-de-change. They allow customers to buy or sell crypto assets at a price set by the broker (usually market price plus a small premium). Coinbase is an example of this kind of exchange.
  3. Direct Trading Platform: These platforms offer direct peer-to-peer trading between buyers and sellers, but don’t use an exchange platform in doing so. These types of exchanges do not use a set market rate; rather, sellers set their own rates. This is a highly risky form of trading, from which new users should shy away.
To understand how an exchange functions we need only look as far as a traditional stock exchange. Most all the features of a cryptocurrency exchange are analogous to features of trading on a traditional stock exchange. In the simplest terms, the exchanges fulfil their role as the main marketplace for crypto assets of all kinds by catering to buyers or sellers. These are some definitions for the basic functions and features to know: Market Orders: Orders that are executed instantly at the current market price. Limit Order: This is an order that will only be executed if and when the price has risen to or dropped to that price specified by the trader and is also within the specified period of time. Transaction fees: Exchanges will charge transactions fees, usually levied on both the buyer and the seller, but sometimes only the seller is charged a fee. Fees vary on different exchanges though the norm is usually below 0.75%. Transfer charges: The exchange is in effect acting as a sort of escrow agent, to ensure there is no foul play, so it might also charge a small fee when you want to withdraw cryptocurrency to your own wallet.
Regulatory Environment and Evolution
Cryptocurrency has come a long way since the closing down of the Silk Road darknet market. The idea of crypto currency being primarily for criminals, has largely been seen as totally inaccurate and outdated. In this section we focus on the developing regulations surrounding the cryptocurrency asset class by region, and we also look at what the future may hold.
The United States of America
A coherent uniform approach at Federal or State level has yet to be implemented in the United States. The Financial Crimes Enforcement Network published guidelines as early as 2013 suggesting that BTC and other cryptos may fall under the label of “money transmitters” and thus would be required to take part in the same Anti-money Laundering (AML) and Know your Client (KYC) procedures as other money service businesses. At the state level, Texas applies its existing finance laws. And New York has instituted an entirely new licensing system.
The European Union
The EU’s approach to cryptocurrency has generally been far more accommodating overall than the United States, partly due to the adaptable nature of pre-existing laws governing electronic money that predated the creation of Bitcoin. As with the USA, the EU’s main fear is money laundering and criminality. The European Central Bank (ECB) categorized BTC as a “convertible decentralized currency” and advised all central banks in the EU to refrain from trading any cryptocurrencies until the proper regulatory framework was put in place. A task force was then set up by the European Parliament in order to prevent and investigate any potential money laundering that was making use of the new technology.
Likely future regulations for cryptocurrency traders within the European Union and North America will probably consist of the following proposals: The initiation of full KYC procedures so that users cannot remain fully anonymous, in order to prevent tax evasion and curtail money laundering. Caps on payments that can be made in cryptocurrency, similar to caps on traditional cash transactions. A set of rules governing tax obligations regarding cryptocurrencies Regulation by the ECB of any companies that offer exchanges between cryptocurrencies and fiat currencies It is less likely for other countries to follow the Chinese approach and completely ban certain aspects of cryptocurrency trading. It is widely considered more progressive and wiser to allow the technology to grow within a balanced accommodative regulatory framework that takes all interests and factors into consideration. It is probable that the most severe form of regulation will be the formation of new governmental bodies specifically to form laws and exercise regulatory control over the cryptocurrency space. But perhaps that is easier said than done. It may, in certain cases, be incredibly difficult to implement particular regulations due to the anonymous and decentralized nature of crypto.
Behavior of Cryptocurrency Investors by Demographic
Due to the fact that cryptocurrency has its roots firmly planted in the cryptography community, the vast majority of early adopters are representative of that group. In this section we cover the basic structure of the cryptocurrency market cycle and the makeup of the community at large, as well as the reasons behind different trading decisions.
The Cryptocurrency Market Cycle
Bitcoin leads the bull rally. FOMO (Fear of missing out) occurs, the price surge is a constant topic of mainstream news, business programs cover the story, and social media is abuzz with cryptocurrency chatter. Bitcoin reaches new All Timehigh (ATH) Market euphoria is fueled with even more hype and the cycle is in full force. There is a constant stream of news articles and commentary on the meteoric, seemingly unstoppable rise of Bitcoin. Bitcoin’s price “stabilizes”, In the 2017 bull run this was at or around $14,000. A number of solid, large market cap altcoins rise along with Bitcoin; ETH & LTC leading the altcoins at this time. FOMO comes into play, as the new ATH in market cap is reached by pumping of a huge number of alt coins.
Top altcoins “somewhat” stabilize, after reaching new all-time highs. The frenzy continues with crypto success stories, notable figures and famous people in the news. A majority of lesser known cryptocurrencies follow along on the upward momentum. Newcomers are drawn deeper into crypto and sign up for exchanges other than the main entry points like Coinbase and Kraken. In 2017 this saw Binance inundated with new registrations. Some of the cheapest coins are subject to massive pumping, such as Tron TRX which saw a rise in market cap from $150 million at the start of December 2017 to a peak of $16 billion! At this stage, even dead coins or known scams will get pumped. The price of the majority of cryptocurrencies stabilize, and some begin to retract. When the hype is subsiding after a huge crypto bull run, it is a massive sell signal. Traditional investors will begin to give interviews about how people need to be careful putting money into such a highly volatile asset class. Massive violent correction begins and the market starts to collapse. BTC begins to fall consistently on a daily basis, wiping out the insane gains of many medium to small cap cryptos with it. Panic selling sweeps through the market. Depression sets in, both in the markets, and in the minds of individual investors who failed to take profits, or heed the signs of imminent collapse. The price stagnation can last for months, or even years.
The Influence of Age upon Trading
Did you know? Cryptocurrencies have been called “stocks for millennials” According to a survey conducted by the Global Blockchain Business Council, only 5% of the American public own any bitcoin, but of those that do, an overwhelming majority of 71% are men, 58% of them are between the ages of 18 and 35, and over half of them are minorities. The same survey gauged public attitude toward the high risk/high return nature of cryptocurrency, in comparison to more secure guaranteed small percentage gains offered by government bonds or stocks, and found that 30% would rather invest $1,000 in crypto. Over 42% of millennials were aware of cryptocurrencies as opposed to only 15% of those ages 65 and over. In George M. Korniotis and Alok Kumar’s study into the effects of aging on portfolio management and the quality of decisions made by older investors, they found “that older and experienced investors are more likely to follow “rules of thumb” that reflect greater investment knowledge. However, older investors are less effective in applying their investment knowledge and exhibit worse investment skill, especially if they are less educated and earn lower income.”
Geographic Influence upon Trading
One of the main drivers of the apparent seasonal ebb and flow of cryptocurrency prices is the tax situation in the various territories that have the highest concentrations of cryptocurrency holders. Every year we see an overall market pull back beginning in mid to late January, with a recovery beginning usually after April. This is because “Tax Season” is roughly the same across Europe and the United States, with the deadline for Income tax returns being April 15th in the United States, and the tax year officially ending the UK on the 6th of April. All capital gains must be declared before the window closes or an American trader will face the powerful and long arm of the IRS with the consequent legal proceedings and possible jail time. Capital gains taxes around the world vary from jurisdiction to jurisdiction but there are often incentives for cryptocurrency holders to refrain from trading for over a year to qualify their profits as long term gain when they finally sell. In the US and Australia, for example, capital gains are reduced if you bought cryptocurrency for investment purposes and held it for over a year. In Germany if crypto assets are held for over a year then the gains derived from their sale are not taxed. Advantages like this apply to individual tax returns, on a case by case basis, and it is up to the investor to keep up to date with the tax codes of the territory in which they reside.
2013 Bull run vs 2017 Bull run price Analysis
In late 2016 cryptocurrency traders were faced with the task of distinguishing between the beginnings of a genuine bull run and what might colorfully be called a “dead cat bounce” (in traditional market terminology). Stagnation had gripped the market since the pull-back of early 2014. The meteoric rise of Bitcoin’s price in 2013 peaked with a price of $1,100 in November 2013, after a year of fantastic news on the adoption front with both Microsoft and PayPal offering BTC payment options. It is easy to look at a line going up on a chart and speak after the fact, but at the time, it is exceeding difficult to say whether the cat is actually climbing up the wall, or just bouncing off the ground. Here, we will discuss the factors that gave savvy investors clues as to why the 2017 bull run was going to outstrip the 2013 rally. Hopefully this will help give insight into how to differentiate between the signs of a small price increase and the start of a full scale bull run. Most importantly, Volume was far higher in 2017. As we can see in the graphic below, the 2017 volume far exceeds the volume of BTC trading during the 2013 price increase. The stranglehold MtGox held on trading made a huge bull run very difficult and unlikely.
Fraud & Immoral Activity in the Private Market
Ponzi Schemes Cryptocurrency Ponzi schemes will be covered in greater detail in Lesson 7, but we need to get a quick overview of the main features of Ponzi schemes and how to spot them at this point in our discussion. Here are some key indicators of a Ponzi scheme, both in cryptocurrencies and traditional investments: A guaranteed promise of high returns with little risk. Consistentflow of returns regardless of market conditions. Investments that have not been registered with the Securities and Exchange Commission (SEC). Investment strategies that are a secret, or described as too complex. Clients not allowed to view official paperwork for their investment. Clients have difficulties trying to get their money back. The initial members of the scheme, most likely unbeknownst to the later investors, are paid their “dividends” or “profits” with new investor cash. The most famous modern-day example of a Ponzi scheme in the traditional world, is Bernie Madoff’s $100 billion fraudulent enterprise, officially titled Bernard L. Madoff Investment Securities LLC. And in the crypto world, BitConnect is the most infamous case of an entirely fraudulent project which boasted a market cap of $2 billion at its peak.
What are the Exchange Hacks?
The history of cryptocurrency is littered with examples of hacked exchanges, some of them so severe that the operation had to be wound up forever. As we have already discussed, incredibly tech savvy and intelligent computer hackers led by Alexander Vinnik stole 850000 BTC from the MtGox exchange over a period from 2012–2014 resulting in the collapse of the exchange and a near-crippling hammer blow to the emerging asset class that is still being felt to this day. The BitGrail exchange suffered a similar style of attack in late 2017 and early 2018, in which Nano (XRB) was stolen that was at one point was worth almost $195 million. Even Bitfinex, one of the most famous and prestigious exchanges, has suffered a hack in 2016 where $72 million worth of BTC was stolen directly from customer accounts.
Hardware Wallet Scam Case Study
In late 2017, an unfortunate character on Reddit, going by the name of “moody rocket” relayed his story of an intricate scam in which his newly acquired hardware wallet was compromised, and his $34,000 life savings were stolen. He bought a second hand Nano ledger into which the scammers own recover seed had already been inserted. He began using the ledger without knowing that the default seed being used was not a randomly assigned seed. After a few weeks the scammer struck, and withdrew all the poor HODLer’s XRP, Dash and Litecoin into their own wallet (likely through a few intermediary wallets to lessen the very slim chances of being identified).
Hardware Wallet Scam Case Study Social Media Fraud
Many gullible and hapless twitter users have fallen victim to the recent phenomenon of scammers using a combination of convincing fake celebrity twitter profiles and numerous amounts of bots to swindle them of ETH or BTC. The scammers would set up a profile with a near identical handle to a famous figure in the tech sphere, such as Vitalik Buterin or Elon Musk. And then in the tweet, immediately following a genuine message, follow up with a variation of “Bonus give away for the next 100 lucky people, send me 0.1 ETH and I will send you 1 ETH back”, followed by the scammers ether wallet address. The next 20 or so responses will be so-called sockpuppet bots, thanking the fake account for their generosity. Thus, the pot is baited and the scammers can expect to receive potentially hundreds of donations of 0.1 Ether into their wallet. Many twitter users with a large follower base such as Vitalik Buterin have taken to adding “Not giving away ETH” to their username to save careless users from being scammed.
Market Manipulation
It also must be recognized that market manipulation is taking place in cryptocurrency. For those with the financial means i.e. whales, there are many ways in which to control the market in a totally immoral and underhanded way for your own profit. It is especially easy to manipulate cryptos that have a very low trading volume. The manipulator places large buy orders or sell walls to discourage price action in one way or the other. Insider trading is also a significant problem in cryptocurrency, as we saw with the example of blatant insider trading when Bitcoin Cash was listed on Coinbase.
Examples of ICO Fraudulent Company Behavior
In the past 2 years an astronomical amount of money has been lost in fraudulent Initial Coin Offerings. The utmost care and attention must be employed before you invest. We will cover this area in greater detail with a whole lesson devoted to the topic. However, at this point, it is useful to look at the main instances of ICO fraud. Among recent instances of fraudulent ICOs resulting in exit scams, 2 of the most infamous are the Benebit and PlexCoin ICOs which raised $4 million for the former and $15 million for the latter. Perhaps the most brazen and damaging ICO scam of all time was the Vietnamese Pincoin ICO operation, where $660million was raised from 32,000 investors before the scammer disappeared with the funds. In case of smaller ICO “exit scamming” there is usually zero chance of the scammers being found. Investors must just take the hit. We will cover these as well as others in Lesson 7 “Scam Projects”.
Signposts of Fraudulent Actors
The following factors are considered red flags when investigating a certain project or ICO, and all of them should be considered when deciding whether or not you want to invest. Whitepaper is a buzzword Salad: If the whitepaper is nothing more than a collection of buzzwords with little clarity of purpose and not much discussion of the tech involved, it is overwhelmingly likely you are reading a scam whitepaper.
Signposts of Fraudulent Actors §2
No Code Repository: With the vast majority of cryptocurrency projects employing open source code, your due diligence investigation should start at GitHub or Sourceforge. If the project has no entries, or nothing but cloned code, you should avoid it at all costs. Anonymous Team: If the team members are hard to find, or if you see they are exaggerating or lying about their experience, you should steer clear. And do not forget, in addition to taking proper precautions when investing in ICOs, you must always make sure that you are visiting authentic web pages, especially for web wallets. If, for example, you are on a spoof MyEtherWallet web page you could divulge your private key without realizing it and have your entire portfolio of Ether and ERC-20 tokens cleaned out.
Methods to Avoid falling Victim
Avoiding scammers and the traps they set for you is all about asking yourself the right questions, starting with: Is there a need for a Blockchain solution for the particular problem that a particular ICO is attempting to solve? The existing solution may be less costly, less time consuming, and more effective than the proposals of a team attempting to fill up their soft cap in an ICO. The following quote from Mihai Ivascu, the CEO of Modex, should be kept in mind every time you are grading an ICO’s chances of success: “I’m pretty sure that 95% of ICOswill not last, and many will go bankrupt. ….. not everything needs to be decentralized and put on an open source ledger.”
Methods to Avoid falling Victim §2 Do I Trust These People with My Money, or Not?
If you continue to feel uneasy about investing in the project, more due diligence is needed. The developers must be qualified and competent enough to complete the objectives that they have set out in the whitepaper.
Is this too good to be true?
All victims of the well-known social media scams using fake profiles of Vitalik Buterin, or Bitconnect investors for that matter, should have asked themselves this simple question, and their investment would have been saved. In the case of Bitconnect, huge guaranteed gains proportional to the amount of people you can get to sign up was a blatant pyramid scheme, obviously too good to be true. The same goes for Fake Vitalik’s offer of 1 ether in exchange for 0.1 ETH.
Selling Cryptocurrencies, Several reasons for selling with the appropriate actions to take:
If you are selling to buy into an ICO, or maybe believe Ether is a safer currency to hold for a certain period of time, it is likely you will want to make use of the Ether pair and receive Ether in return. Obviously if the ICO is on the NEO or WANchain blockchain for example, you will use the appropriate pair. -Trading to buy into another promising project that is listing on the exchange on which you are selling (or you think the exchange will experience a large amount of volume and become a larger exchange), you may want to trade your cryptocurrency for that exchange token. -If you believe that BTC stands a good chance of experiencing a bull run then using the BTC trading pair is the suitable choice. -If you believe that the market is about to experience a correction but you do not want to take your gains out of the market yet, selling for Tether or “tethering up” is the best play. This allows you to keep your locked-in profits on the exchange, unaffected by the price movements in the cryptocurrency markets,so that you can buy back in at the most profitable moment. -If you wish to “cash out” i.e. sell your cryptocurrency for fiat currency and have those funds in your bank account, the best pair to use is ETH or BTC because you will likely have to transfer to an exchange like Kraken or Coinbase to convert them into fiat. If the exchange offers Litecoin or Bitcoin Cash pairs it could be a good idea to use these for their fast transaction time and low fees.
Selling Cryptocurrencies
Knowing when and how to sell, as well as strategies to inflate the value of your trade before sale, are important skills as a trader of any product or financial instrument. If you are satisfied that the sale itself of the particular amount of a token or coin you are trading away is the right one, then you must decide at what price you are going to sell. Exchanges exercise their own discretion as to which trading “pairs” they will offer, but the most common ones are BTC, ETH, BNB for Binance, BIX for Bibox etc., and sometimes Tether (USDT) or NEO. As a trader, you decide which particular cryptocurrency to exchange depending on your reason for making that specific trade at that time.
Methods of Sale
Market sell/Limit sell on exchange: A limit sell is an order placed on an exchange to sell as soon as (also specifically only if and when) the price you specified has been hit within the time limit you select. A market order executes the sale immediately at the best possible price offered by the market at that exact time. OTC (or Over the Counter) selling refers to sale of securities or cryptocurrencies in any method without using an exchange to intermediate the trade and set the price. The most common way of conducting sales in this manner is through LocalBitcoins.com. This method of cryptocurrency selling is far riskier than using an exchange, for obvious reasons.
The influence and value of your Trade
There are a number of strategies you can use to appreciate the value of your trade and thus increase the Bitcoin or Ether value of your portfolio. It is important to disassociate yourself from the dollar value of your portfolio early on in your cryptocurrency trading career simply because the crypto market is so volatile you will end up pulling your hair out in frustration following the real dollar money value of your holdings. Once your funds have been converted into BTC and ETH they are completely in the crypto sphere. (Some crypto investors find it more appropriate to monitor the value of their portfolio in satoshi or gwei.) Certainly not limited to, but especially good for beginners, the most reliable way to increase your trading profits, and thus the overall value and health of your portfolio, is to buy into promising projects, hold them for 6 months to a year, and then reevaluate. This is called Long term holding and is the tactic that served Bitcoin HODLers quite well, from 2013 to the present day. Obviously, if something comes to light about the project that indicates a lengthy set back is likely, it is often better to cut your losses and sell. You are better off starting over and researching other projects. Also, you should set initial Price Points at which you first take out your original investment, and then later, at which you take out all your profits and exit the project. That should be after you believe the potential for growth has been exhausted for that particular project.
Another method of increasing the value of your trades is ICO flipping. This is the exact opposite of long term holding. This is a technique in which you aim for fast profits taking advantage of initial enthusiasm in the market that may double or triple the value of ICO projects when they first come to market. This method requires some experience using smaller exchanges like IDEX, on which project tokens can be bought and sold before listing on mainstream exchanges. “Tethering up” means to exchange tokens or coins for the USDT stable coin, the value of which is tethered to the US Dollar. If you learn, or know how to use, technical analysis, it is possible to predict when a market retreatment is likely by looking at the price movements of BTC. If you decide a market pull back is likely, you can tether up and maintain the dollar value of your portfolio in tether while other tokens and coins decrease in value. The you wait for an opportune moment to reenter the market.
Market Behavior in Different Time Periods
The main descriptors used for overall market sentiment are “Bull Market” and “Bear Market”. The former describes a market where people are buying on optimism. The latter describes a market where people are selling on pessimism. Fun (or maybe not) fact: The California grizzly bear was brought to extinction by the love of bear baiting as a sport in the mid 1800s. Bears were highly sought after for their intrinsic fighting qualities, and were forced into fighting bulls as Sunday morning entertainment for Californians. What has this got to do with trading and financial markets? The downward swipe of the bear’s paws gives a “Bear market” its name and the upward thrust of a Bull’s horns give the “Bull Market” its name. Most unfortunately for traders, the bear won over 80% of the bouts. During a Bull market, optimism can sometimes grow to be seemingly boundless, volume is rising, and prices are ascending. It can be a good idea to sell or rebalance your portfolio at such a time, especially if you have a particularly large position in one holding or another. This is especially applicable if you need to sell a large amount of a relatively low-volume holding, because you can then do so without dragging the price down by the large size of your own sell order.
Learn more on common behavioral patterns observed so far in the cryptocurrency space for different coins and ICO tokens.
Follow the link:
UBAI.co
If you want to know how do security tokens work, and become a professional in crypto world contact me via Facebook to get all the details:
Facebook
submitted by UBAI_UNIVERSITY to u/UBAI_UNIVERSITY [link] [comments]

Subreddit Stats: CryptoCurrency top posts from 2017-12-30 to 2018-12-28 15:19 PDT

Period: 362.99 days
Submissions Comments
Total 999 261301
Rate (per day) 2.75 714.82
Unique Redditors 802 50220
Combined Score 2218137 2947862

Top Submitters' Top Submissions

  1. 67661 points, 12 submissions: DestroyerOfShitcoins
    1. CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! (26500 points, 3087 comments)
    2. Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. (17879 points, 1294 comments)
    3. Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming. (9278 points, 777 comments)
    4. So no one else finds it a bit odd that Verge is actually going up in price in a bear market, after a hack attack, after being outed for paying McAfee to promote it, and after the 1 developer begged for money from his own community to allegedly help pay his taxes? (2550 points, 875 comments)
    5. Not 2 days after the fall of BitConnect, and Trevon James is already promoting his next Ponzi scheme affiliate program in his latest video called Davor... the nerve of this guy! (2229 points, 416 comments)
    6. Cryptonick is selling a cryptocurrency course for $497, and yet he doesn't even know the difference between a public key and a private key... welcome to crypto folks! (1805 points, 239 comments)
    7. You guys have to stop expecting any of these business men of old to champion "decentralized" cryptocurrencies... it's just not going to happen. (1796 points, 453 comments)
    8. The bulls are back baby, and Ethereum is taking over the pairing business on exchanges... it's about time! (1649 points, 740 comments)
    9. Trevon James, legendary BitConnect scammer gets caught trying to cheat on Steemit, by up-voting shit on a fake account to make money... has this guy ever done anything honest in his entire life? (1371 points, 192 comments)
    10. CryptoNick's latest video "Like and Dislike" ratio means that his BitConnect scam has not gone unnoticed, and I'd like to thank all of you for helping us expose him for the scammer that he truly is... drops the mic. (940 points, 158 comments)
  2. 53866 points, 1 submission: jake15151
    1. I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days. (53866 points, 2895 comments)
  3. 53525 points, 19 submissions: coinmoon_com
    1. Nasdaq is open to becoming cryptocurrency exchange, CEO says (17168 points, 844 comments)
    2. Facebook bans crypto advertising. Then says it’s working on its own crypto coin. Hypocrites! (6045 points, 343 comments)
    3. JUSTICE: Bitconnect Leader Arrested (4275 points, 321 comments)
    4. Apparently there is no SEC hearing on Ethereum today and it is all just orchestrated FUD. (2858 points, 440 comments)
    5. Nasdaq May Launch Bitcoin Trading in October 2018 (2650 points, 184 comments)
    6. UPbit audit confirms South Korea’s biggest Cryptocurrency Exchange was not at fault. It was all just FUD! (2322 points, 113 comments)
    7. LET THIS SINK IN: "Bitcoin has the potential to become the first worldwide currency and we're trying to make that happen" - NYSE Owner (2231 points, 597 comments)
    8. Coinbase Survey Shows 18% of all US Students Now Own Cryptocurrency (1790 points, 338 comments)
    9. Beyond Huge! With $10.7 trillion worth of assets under custody and administration, Northern Trust opens doors to Cryptocurrency hedge funds (1774 points, 145 comments)
    10. CNN Video: "People around the world are starting to trust Bitcoin more than the Central Banks". Damn Right! (1679 points, 456 comments)
  4. 43808 points, 4 submissions: A_Internet_Stranger
    1. +1(800)273-8255 - U.S. National Suicide Hotline (38893 points, 3161 comments)
    2. Binance to grant 70% reduction in fees until 2/24/18 (2240 points, 412 comments)
    3. Rai.Exchange/Nanex has finally launched (1892 points, 236 comments)
    4. Nano / XRB Creator Colin LeMahieu Interview (783 points, 81 comments)
  5. 32059 points, 7 submissions: arsonbunny
    1. Why we won't have a long term bear market, and how to systematically pick your future investments in crypto (14594 points, 927 comments)
    2. Want to start fresh after the crypto crash? Here is a comprehensive guide on how to invest and prosper over the long term. (6080 points, 654 comments)
    3. This sub is a mess and needs to get out of the anger stage: How to move forward from the crash if you're a bagholder (3363 points, 404 comments)
    4. Understanding Tether: Why it accounts for a substantial part of the crypto market cap and why its the #1 outstanding issue in crypto markets today (2701 points, 719 comments)
    5. How and why exchanges are manipulating the price in order to capitalize on the new market dynamics (2366 points, 512 comments)
    6. I built these 3 fundamental valuation models for Bitcoin in Excel. Details in the comment. (1517 points, 111 comments)
    7. Understanding Bitcoin Futures: How they work and why they are NOT going to crash the crypto market (1438 points, 123 comments)
  6. 20144 points, 1 submission: Suuperdad
    1. I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. (20144 points, 1459 comments)
  7. 19959 points, 1 submission: Gabriel-Lewis
    1. Robinhood is launching a Crypto Trading app to compete with Coinbase (19959 points, 3960 comments)
  8. 19623 points, 1 submission: sash187
    1. Checkmate, Bill. (19623 points, 1108 comments)
  9. 18475 points, 1 submission: x2P
    1. Delta's app store description seems appropriate today. (18475 points, 321 comments)
  10. 18254 points, 9 submissions: lamb0x
    1. This is the SEC Commissioner who wants the ETF approved. She has only 1700 followers. Lets show her some love from the Crypto Community. (7312 points, 307 comments)
    2. Bitcoin Annual Transaction volume reaches $1.3 Trillion and surpasses PayPal (2018 points, 262 comments)
    3. WE HAVE SUFFERED A PRIVATE AFFAIR. Block producer paid $100k a day, but allows a double spend because "he had something else to do" (1922 points, 672 comments)
    4. Ethereum is the 5th fastest growing open source project in all of Github (1658 points, 183 comments)
    5. Vitalik laying more sick burns: "If I see indisputable evidence that CSW is Satoshi, it would change my opinion of Satoshi more than it would change my opinion of CSW." (1350 points, 271 comments)
    6. Hackers exploit EOS dApps to steal over $600K. EOS is burning, several dApps hacked recently 🔥🔥🔥 (1230 points, 450 comments)
    7. Just 10 address hold nearly 50% of EOS tokens. "Year long ICO was to distribute fairly" - debunked. (973 points, 260 comments)
    8. RIP EOS - John Oliver dissects this scam which has raised over 1.5 Bn USD already and is still raising funds in a "year long ICO".... (912 points, 474 comments)
    9. This guy has been predicting it right all this while, right upto the exact day! (879 points, 142 comments)

Top Commenters

  1. arsonbunny (16898 points, 134 comments)
  2. el-cuko (10955 points, 27 comments)
  3. dankmeter (6805 points, 26 comments)
  4. ph1sh55 (6226 points, 10 comments)
  5. BlakeRidley (6003 points, 11 comments)
  6. Raymikqwer (5316 points, 102 comments)
  7. hanzyfranzy (5284 points, 6 comments)
  8. DestroyerOfShitcoins (5236 points, 780 comments)
  9. Bungwads (5079 points, 1 comment)
  10. JohnDalysJohn (4764 points, 2 comments)

Top Submissions

  1. I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days. by jake15151 (53866 points, 2895 comments)
  2. +1(800)273-8255 - U.S. National Suicide Hotline by A_Internet_Stranger (38893 points, 3161 comments)
  3. CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! by DestroyerOfShitcoins (26500 points, 3087 comments)
  4. I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. by Suuperdad (20144 points, 1459 comments)
  5. Robinhood is launching a Crypto Trading app to compete with Coinbase by Gabriel-Lewis (19959 points, 3960 comments)
  6. Checkmate, Bill. by sash187 (19623 points, 1108 comments)
  7. Delta's app store description seems appropriate today. by x2P (18475 points, 321 comments)
  8. Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. by DestroyerOfShitcoins (17879 points, 1294 comments)
  9. Nasdaq is open to becoming cryptocurrency exchange, CEO says by coinmoon_com (17168 points, 844 comments)
  10. Why we won't have a long term bear market, and how to systematically pick your future investments in crypto by arsonbunny (14594 points, 927 comments)

Top Comments

  1. 10207 points: el-cuko's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  2. 6165 points: ph1sh55's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  3. 5795 points: BlakeRidley's comment in I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days.
  4. 5079 points: Bungwads's comment in Checkmate, Bill.
  5. 4781 points: hanzyfranzy's comment in Bitcoin breaches $4000 in 15 minutes. What is happening 😳
  6. 4368 points: andyalxatydotcom's comment in Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming.
  7. 4287 points: mikelo22's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  8. 4034 points: FSev's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  9. 3700 points: arsonbunny's comment in Bittrex holding my about $100.000 hostage with no response to support ticket/email for almost three months
  10. 3628 points: eNte19's comment in Enjoy the massacre. It could be a once in life opportunity.
Generated with BBoe's Subreddit Stats (Donate)
submitted by subreddit_stats to subreddit_stats [link] [comments]

Crypto News Recap for the week ending August 3rd

Developments in Financial Services

Regulatory

General News

submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Cryptocurrencies extend losses as Coincheck reopens new account signups and limited trading services

Crypto News

Sources:
https://cointelegraph.com/news/crypto-price-tracking-app-cointicker-installs-backdoors-to-control-host-computer-report https://bitcoinist.com/malwarebytes-forurm-user-discovers-a-crypto-tracker-app-that-secretly-installed-backdoors-in-macs/ https://www.ccn.com/mainstream-big-four-auditor-pwc-has-400-crypto-specialists-on-staff/ https://www.ccn.com/you-can-now-buy-binances-cryptocurrency-token-on-etoro/ https://www.afr.com/technology/jp-morgans-quorum-blockchain-opens-new-world-of-trading-opportunities-20181027-h176fs https://www.ccn.com/jp-morgans-ethereum-based-quorum-blockchain-will-tokenise-gold-bars/ https://cointelegraph.com/news/coincheck-reopens-new-signups-deposits-and-withdrawals-of-some-cryptocurrencies https://file.swcms.net/file/monexgroup/en/news\_release/auto\_20181030425392/pdfFile.pdf https://cointelegraph.com/news/uks-financial-regulator-mulls-ban-on-sale-of-crypto-derivatives https://www.ccn.com/russian-financial-watchdog-calls-for-global-crypto-exchange-regulations/ https://iz.ru/805821/2018-10-29/rosfinmonitoring-budet-kontrolirovat-oborot-kriptovaliut https://bitcoinist.com/3-2-gb-block-sizes-developers-bash-bitcoin-climate-change-fake-news/ https://www.newsbtc.com/2018/10/30/uk-financial-watchdog-mulls-ban-on-high-risk-crypto-derivatives/
submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

BITCOIN MASSIVELY UNDERVALUED!!! $BNB Bullish, Binance Cloud, FCoin Bitcoin + IRS, SEC Bitcoin ETF, Binance In China, Ethereum Use Case & Bitcoin Price Rise BINANCE KYC EXTORTION, Hack explained Gold, Bitcoin, Stocks - Programmer explains Cryptocurrency Tax in 5 Minutes - What are Taxable Events ? HOW TO BUY BITCOIN 2019 - Easy Ways to Invest In ... BITCOIN TAXES (BIG UPDATE) - DON'T GET REKT!!! AMA WITH CRYPTO CPA BITCOIN TAX FREE??!! 😳 HUGE RALLY! Binance X Launch - YouTube Bitcoin Price Jumps, Massive Power Grab, Binance In China, Ripple + Santander & Games On Tezos BITCOIN TANKING!! Still Bullish? Bitcoin Cash INSANE Tax You are being LIED TO about BITCOIN 🚨DON'T BE FOOLED ...

The remaining $4.7 million worth of bitcoin traced by the researchers is currently still being held at various off-exchange addresses, suggesting Binance is the cyber criminals' exchange of choice. Long-term tax rates are typically much lower than short-term tax rates. In the United States, for example, short-term tax rates are based off of an individual's income tax rate, which range between 10% and 37% (2018). Long-term tax rates in the United States are also based on an individual's income tax rate, but range between 0% and 20% (2018). How to not pay tax on Cryptocurrency UK? There is one simple option available to cryptocurrency investors to not pay tax. This comes from utilising the capital gains tax free allowance, which is £11,700 for the 2018/19 tax year. In essence, if you make a gain of less then £11,700 (and you are classed as an investor) then you do not have any tax to pay. This is not the total sale price, it is ... In Germany, Bitcoin and other cryptos are not considered as a commodity, a stock, or any kind of currency. Instead, these things are considered as private money in a way that’s similar to foreign currency.. Trading bitcoins/altcoins are considered as a private sale under the rule 23 EStG which has tax-free benefits. According to this rule, it means anyone trading bitcoins/altcoins is totally ... Binance now supports fiat currencies, including the Euro, Russian ruble, Turkish lira, and the British pound. UK citizens are allowed to be able to convert fiat to crypto on Binance through Binance Jersey. The platform has low tax rates and is located between England and France. Best Bitcoin Exchanges In UK. Here is our consolidated list of the best places to buy Bitcoin in the UK (with our commentary): Crypto.com (over 1 million users worldwide and zero trading fees for new users); Binance Jersey (excellent charting features and risk management tools); Plus500 (CFD provider that offers competitive spreads and trading with leverage) Binance’s free app makes it easy for simple trades and complex bitcoin trading for professional traders, with future features planned for release soon. I hope this information is helpful. Let us know if you have any other questions about Binance. For Capital Gains Tax, sections 275 and 275A of the Taxation of Chargeable Gains Act 1992 provide statutory rules for determining when particular types of assets will be in the UK, but these are ... Binance Jersey has low tax rates and its location is between England and France. ... The five cryptocurrencies listed on Binance Jersey platform include Bitcoin, Ethereum, Binance Coin, Litecoin and Bitcoin Cash. According to Binance’s announcement of June 17, the UK exchange will go live this summer with consideration for the addition of 65 cryptocurrencies. According to the stipulations of ... Trade over 40 cryptocurrencies and enjoy the lowest trading fees in America.

[index] [16339] [15593] [16162] [1960] [5488] [14118] [5423] [14324] [20891] [16725]

BITCOIN MASSIVELY UNDERVALUED!!! $BNB Bullish, Binance Cloud, FCoin

Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered ... Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered ... Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered ... My Second Channel: https://www.youtube.com/channel/UCvXjP6h0_4CSBPVgHqfO-UA ----- Supp... Follow Altcoin Daily: https://www.youtube.com/channel/UCbLhGKVY-bJPcawebgtNfbw/videos Protect your crypto with a Ledger - the world’s best hardware wallet: h... This video is unavailable. Watch Queue Queue. Watch Queue Queue HOW TO BUY BITCOIN 2019 - EASY Ways to Invest In Cryptocurrency For Beginners! Get $10 of free Bitcoin when you buy or sell at least $100 of cryptocurrency o... Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered ... Bitcoin + IRS, SEC Bitcoin ETF, Binance In China, Ethereum Use Case & Bitcoin Price Rise The Modern Investor. Loading... Unsubscribe from The Modern Investor? Cancel Unsubscribe. Working ... Bitcoin TAX Myths! How to Avoid the Headache with Cointracking - Duration: 6:52. EverythingCrypto 136,077 views. 6:52. Coins vs Bars - Expert Tips on Gold and Silver Coins and Bars - Duration ...

https://arab.cryptocurrencyexchanges.monster