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Crypto-Powered: Understanding Bitcoin, Ethereum, and DeFi

Crypto-Powered: Understanding Bitcoin, Ethereum, and DeFi
Until one understands the basics of this tech, they won’t be able to grasp or appreciate the impact it has on our digital bank, Genesis Block.
https://reddit.com/link/ho4bif/video/n0euarkifu951/player
This is the second post of Crypto-Powered — a new series that examines what it means for Genesis Block to be a digital bank that’s powered by crypto, blockchain, and decentralized protocols.
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Our previous post set the stage for this series. We discussed the state of consumer finance and how the success of today’s high-flying fintech unicorns will be short-lived as long as they’re building on legacy finance — a weak foundation that is ripe for massive disruption.
Instead, the future of consumer finance belongs to those who are deeply familiar with blockchain tech & decentralized protocols, build on it as the foundation, and know how to take it to the world. Like Genesis Block.
Today we begin our journey down the crypto rabbit hole. This post will be an important introduction for those still learning about Bitcoin, Ethereum, or DeFi (Decentralized Finance). This post (and the next few) will go into greater detail about how this technology gives Genesis Block an edge, a superpower, and an unfair advantage. Let’s dive in…
https://preview.redd.it/1ugdxoqjfu951.jpg?width=650&format=pjpg&auto=webp&s=36edde1079c3cff5f6b15b8cd30e6c436626d5d8

Bitcoin: The First Cryptocurrency

There are plenty of online resources to learn about Bitcoin (Coinbase, Binance, Gemini, Naval, Alex Gladstein, Marc Andreessen, Chris Dixon). I don’t wanna spend a lot of time on that here, but let’s do a quick overview for those still getting ramped up.
Cryptocurrency is the most popular use-case of blockchain technology today. And Bitcoin was the first cryptocurrency to be invented.
Bitcoin is the most decentralized of all crypto assets today — no government, company, or third party can control or censor it.
Bitcoin has two primary features (as do most other cryptocurrencies):
  1. Send Value You can send value to anyone, anywhere in the world. Nobody can intercept, delay or stop it — not even governments or financial institutions. Unlike with traditional money transfers or bank wires, there are no layers of middlemen. This results in a process that is much more cost-efficient. Some popular use-cases include remittances and cross-border payments.
  2. Store Value With nothing but a smartphone, you can become your own bank and store your own funds. Nobody can seize your assets. The funds are digital and stored on a blockchain. Your money no longer needs to be stored at a bank, in a vault, or under your mattress. I covered a few inspiring use-cases in a previous post. They include banking the unbanked, protecting assets from government seizure, mitigating the risk of a bank run, and protection against hyperinflation (like what recently happened in Venezuela).
The fact that there are so few things one can do with Bitcoin is one of its greatest strengths.
Its design is simple, elegant, and focused. It has been 10+ years since Satoshi’s white paper and no one has been able to crack or hack the Bitcoin network. With a market cap of $170B, there is plenty of incentive to try.
https://preview.redd.it/bizndfpkfu951.png?width=800&format=png&auto=webp&s=456c53b798248e60456a65835a33c69b2fe8daf0

Public Awareness

A few negative moments in Bitcoin’s history include the collapse of Mt. Gox — which resulted in hundreds of millions of customer funds being stolen — as well as Bitcoin’s role in dark markets like Silk Road — where Bitcoin arguably found its initial userbase.
However, like most breakthrough technology, Bitcoin is neither good nor bad. It’s neutral. People can use it for good or they can use it for evil. Thankfully, it’s being used less and less for illicit activity. Criminals are starting to understand that transactions on a blockchain are public and traceable — it’s exactly the type of system they usually try to avoid. And it’s true, at this point “a lot more” crimes are actually committed with fiat than crypto.
As a result, the perception of bitcoin and cryptocurrency has been changing over the years to a more positive light.
Bitcoin has even started to enter the world of media & entertainment. It’s been mentioned in Hollywood films like Spiderman: Into the Spider-Verse and in songs from major artists like Eminem. It’s been mentioned in countless TV shows like Billions, The Simpsons, Big Bang Theory, Gray’s Anatomy, Family Guy, and more.
As covid19 has ravaged economies and central banks have been printing money, Bitcoin has caught the attention of many legendary Wall Street investors like Paul Tudor Jones, saying that Bitcoin is a great bet against inflation (reminding him of Gold in the 1970s).
Cash App already lets their 25M users buy Bitcoin. It’s rumored that PayPal and Venmo will soon let their 325M users start buying Bitcoin. Bitcoin is by far the most dominant cryptocurrency and is showing no signs of slowing down. For more than a decade it has delivered on its core use-cases — being able to send or store value.
At this point, Bitcoin has very much entered the zeitgeist of modern pop culture — at least in the West.
https://preview.redd.it/dnuwbw8mfu951.png?width=800&format=png&auto=webp&s=6f1f135e3effee4574b5167901b80ced2c972bda

Ethereum: Programmable Money

When Ethereum launched in 2015, it opened up a world of new possibilities and use-cases for crypto. With Ethereum Smart Contracts (i.e. applications), this exciting new digital money (cryptocurrency) became a lot less dumb. Developers could now build applications that go beyond the simple use-cases of “send value” & “store value.” They could program cryptocurrency to have rules, behavior, and logic to respond to different inputs. And always enforced by code. Additional reading on Ethereum from Linda Xie or Vitalik Buterin.
Because these applications are built on blockchain technology (Ethereum), they preserve many of the same characteristics as Bitcoin: no one can stop, censor or shut down these apps because they are decentralized.
One of the first major use-cases on Ethereum was the ability to mint and create your own token, your own cryptocurrency. Many companies used this as a way to fundraise from the public. This led to the 2017 ICO bubble (Initial Coin Offerings). Some tokens — and the apps/networks they powered — were fascinating and innovative. Most tokens were pointless. And many tokens were outright scams. Additional token reading from Fred Ehrsam, Balaji, and Naval.
https://reddit.com/link/ho4bif/video/b5b1jh9ofu951/player

Digital Gold Rush

Just as tokens grew in popularity in 2017–2018, so did online marketplaces where these tokens could be bought, sold, and traded. This was a fledgling asset class — the merchants selling picks, axes, and shovels were finally starting to emerge.
I had a front-row seat — both as an investor and token creator. This was the Wild West with all the frontier drama & scandal that you’d expect.
Binance — now the world’s largest crypto exchange —was launched during this time. They along with many others (especially from Asia) made it really easy for speculators, traders, and degenerate gamblers to participate in these markets. Similar to other financial markets, the goal was straightforward: buy low and sell high.
https://preview.redd.it/tytsu5jnfu951.jpg?width=600&format=pjpg&auto=webp&s=fe3425b7e4a71fa953b953f0c7f6eaff6504a0d1
That period left an embarrassing stain on our industry that we’ve still been trying to recover from. It was a period rampant with market manipulation, pump-and-dumps, and scams. To some extent, the crypto industry still suffers from that today, but it’s nothing compared to what it was then.
While the potential of getting filthy rich brought a lot of fly-by-nighters and charlatans into the industry, it also brought a lot of innovators, entrepreneurs, and builders.
The launch and growth of Ethereum has been an incredible technological breakthrough. As with past tech breakthroughs, it has led to a wave of innovation, experimentation, and development. The creativity around tokens, smart contracts, and decentralized applications has been fascinating to witness. Now a few years later, the fruits of those labors are starting to be realized.

DeFi: Decentralized Finance

So as a reminder, tokens are cryptocurrencies. Cryptocurrencies can carry value. And value is a lot like money. Because tokens are natively integrated with Ethereum, it’s been natural for developers to build applications related to financial services — things like lending, borrowing, saving, investing, payments, and insurance. In the last few years, there has been a groundswell of developer momentum building in this area of financial protocols. This segment of the industry is known as DeFi (Decentralized Finance).
https://preview.redd.it/f0sjzqspfu951.png?width=461&format=png&auto=webp&s=8e0a31bf29250fc624918fbd8514b008762f379e
In Q2 of 2020, 97% of all Ethereum activity was DeFi-related. Total DeFi transaction volume has reached $11.5B. The current value locked inside DeFi protocols is approaching $2 Billion (double from a month ago). DeFi’s meteoric growth cannot be ignored.
Most of that growth can be attributed to exciting protocols like Compound, Maker, Synthetix, Balancer, Aave, dYdX, and Uniswap. These DeFi protocols and the financial services they offer are quickly becoming some of the most popular use-cases for blockchain technology today.
https://preview.redd.it/wn3phnkqfu951.png?width=800&format=png&auto=webp&s=02f56caa6b94aa59eadd6e368ef9346ba10c7611
This impressive growth in DeFi certainly hasn’t come without growing pains. Unlike with Bitcoin, there are near-infinite applications one can develop on Ethereum. Sometimes bugs (or typos) can slip through code reviews, testing, and audits — resulting in loss of funds.
Our next post will go much deeper on DeFi.

Wrap Up

I know that for the hardcore crypto people, what we covered today is nothing new. But for those who are still getting up to speed, welcome! I hope this was helpful and that it fuels your interest to learn more.
Until you understand the basics of this technology, you won’t be able to fully appreciate the impact that it has on our new digital bank, Genesis Block. You won’t be able to understand the implications, how it relates, or how it helps.
After today’s post, some of you probably have a lot more questions. What are specific examples or use-cases of DeFi? Why does it need to be on a blockchain? What benefits does it bring to Genesis Block and our users?
In upcoming posts, we answer these questions. Today’s post was just Level 1. It set the foundation for where we’re headed next: even deeper down the crypto rabbit hole.
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Other Ways to Consume Today's Episode:
We have a lot more content coming. Be sure to follow our channels: https://genesisblock.com/follow/
Have you already downloaded the app? We're Genesis Block, a new digital bank that's powered by crypto & decentralized protocols. The app is live in the App Store (iOS & Android). Get the link to download at https://genesisblock.com/download
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Subreddit Stats: cryptocurrencymemes top posts from 2018-12-31 to 2019-12-30 21:54 PDT

Period: 364.37 days
Submissions Comments
Total 1000 3412
Rate (per day) 2.74 9.34
Unique Redditors 354 1081
Combined Score 35766 8616

Top Submitters' Top Submissions

  1. 6640 points, 167 submissions: jaggedsoft
    1. relatable (207 points, 11 comments)
    2. I like guys who take big risks 😨 (137 points, 7 comments)
    3. Altseason (129 points, 8 comments)
    4. Shoulda took the money (124 points, 6 comments)
    5. Time travel ⌛ (122 points, 14 comments)
    6. i read the whitepaper 📰 (118 points, 5 comments)
    7. You never know what someone is going through (110 points, 10 comments)
    8. next alt season 🦖💥 (108 points, 7 comments)
    9. Wake up call 📞😱🔊 (106 points, 1 comment)
    10. Now that's what I'm talking about 😇 (103 points, 4 comments)
  2. 2877 points, 104 submissions: definitelynotdeleted
    1. I bought bitcoin for 20,000 and sold for $ 3000 (114 points, 5 comments)
    2. 18+ (89 points, 7 comments)
    3. Binance lottery ))) (83 points, 15 comments)
    4. BTC Dominance: 62.0% (71 points, 3 comments)
    5. BTC Dominance: 65.3% (65 points, 6 comments)
    6. Keanu won’t give you bad advice😉 (62 points, 4 comments)
    7. BTC Dominance: 69.2% (60 points, 3 comments)
    8. BTC Dominance: 70.1% (59 points, 15 comments)
    9. Bitcoin 11000$ (59 points, 2 comments)
    10. My deposit... (55 points, 4 comments)
  3. 983 points, 16 submissions: Frix13
    1. How DARE you :D (128 points, 12 comments)
    2. Nothing can scare us anymore! 💪 😎 (121 points, 8 comments)
    3. How I imagine most of us 😅 👊 (110 points, 9 comments)
    4. Do you have the same problem? 😅 💸 🚀 (107 points, 8 comments)
    5. Just HODL guys!!! 😆 (96 points, 14 comments)
    6. Every Crypto Facebook group right now :D (85 points, 2 comments)
    7. When Moon??? 🚀 (75 points, 6 comments)
    8. Im certainly not in it for the profits, that's for sure :'D (58 points, 10 comments)
    9. What is this "profits" you speak of?! 📈 (54 points, 4 comments)
    10. Don't miss the train, Bull-market here we come!!! 😂 (45 points, 3 comments)
  4. 922 points, 23 submissions: hodlorcrypt
    1. Disgusting (95 points, 65 comments)
    2. You have been visited by the nice duck (94 points, 66 comments)
    3. Point Break: Crypto Edition (83 points, 0 comments)
    4. My alts' sats whenever BTC spikes (77 points, 7 comments)
    5. Sweet, sweet airdrops (75 points, 0 comments)
    6. Shots fired (60 points, 11 comments)
    7. Trying to laugh away the pain (54 points, 2 comments)
    8. Lookin' for some lovin' (50 points, 3 comments)
    9. Marilyn Cryptoe (50 points, 4 comments)
    10. Me rollin' up to alt season (50 points, 8 comments)
  5. 746 points, 31 submissions: cryptoparody
    1. Current mood in crypto (77 points, 2 comments)
    2. Binance to block US 🇺🇸 users! (75 points, 10 comments)
    3. When Bitcoin went over $9k 💪 (54 points, 8 comments)
    4. Who wants to be a millionaire? (49 points, 7 comments)
    5. Crypto pump and dumps 🤑😵 (45 points, 3 comments)
    6. How we all feeling? (43 points, 6 comments)
    7. Throwback Thursday to 2017 💸😱 (32 points, 0 comments)
    8. The struggle is real in crypto (29 points, 6 comments)
    9. Tough road ahead for Libra 🤣 (29 points, 6 comments)
    10. They hate what they can’t control. Top 10 banks got fined a combined $174 billion for violations — dwarfing the MC of Bitcoin (27 points, 1 comment)
  6. 726 points, 21 submissions: cooriah
    1. Get out of fiat. (72 points, 2 comments)
    2. Told ya so. (72 points, 24 comments)
    3. Current financial situation (62 points, 8 comments)
    4. When someone asks for financial advice and you tell them about Bitcoin. (60 points, 4 comments)
    5. There will always be new people coming in with questions. (50 points, 16 comments)
    6. Feeling every dip after buying at the last peak. (47 points, 2 comments)
    7. Oh, it's such sweet trolling to say it back at the same smug, fiat statists. (43 points, 4 comments)
    8. If I had $267,000,000, I'd keep it on the blockchain. I would not trust any fiat bank to hold it for me. (40 points, 16 comments)
    9. Saying crypto is too slow and difficult for mass adoption is just like when they said nobody will carry a "cinder block" mobile phone around everywhere, and with that low battery capacity. (38 points, 6 comments)
    10. ♪Thats the way, a-huh a-huh, I like it, a-huh a-huh. ♫ (38 points, 3 comments)
  7. 701 points, 11 submissions: resonantseed
    1. No pain, time for gains (128 points, 8 comments)
    2. Getting help as crypto noob (106 points, 17 comments)
    3. Alts today (100 points, 11 comments)
    4. EOS birth of an ecosystem (77 points, 4 comments)
    5. Being at party with no crypto people (74 points, 9 comments)
    6. Thy holiness giveth and taketh (51 points, 2 comments)
    7. Asking shills legitimate questions (44 points, 1 comment)
    8. How it feels every time I get more crypto (41 points, 1 comment)
    9. Clutch your coins tight (34 points, 5 comments)
    10. Holding heavy alt bags (24 points, 1 comment)
  8. 654 points, 12 submissions: minecoins247365
    1. Dollar Cost Averaging into Crypto Right Now (190 points, 20 comments)
    2. How It Feels To Hold Altcoins Right Now (159 points, 18 comments)
    3. Altcoins Right Now... (70 points, 10 comments)
    4. my crypto bags right now (68 points, 6 comments)
    5. How the US Copyright Office Filed the #Faketoshi Application (52 points, 4 comments)
    6. Countdown to Altcoin Season Like... (42 points, 11 comments)
    7. Every time Craig Wright claims to be Satoshi Nakamoto (21 points, 2 comments)
    8. TFW buying $BCHABC $BCHSV $BTG (14 points, 0 comments)
    9. When Google Knows You're Drunk And Want Bitcoin (12 points, 0 comments)
    10. ...Then You Win (11 points, 1 comment)
  9. 593 points, 15 submissions: nathanielx9
    1. Found this yesterday and thought this was funny (102 points, 5 comments)
    2. Happy Valentines Day Everyone (84 points, 4 comments)
    3. Here we go again... (73 points, 5 comments)
    4. When you decide to start day trading in a bear market (70 points, 3 comments)
    5. All I want is Ramen :/ (46 points, 2 comments)
    6. Time to reuse our 2017 memes? (40 points, 2 comments)
    7. Oof (39 points, 2 comments)
    8. Shitcoin communities be like (36 points, 3 comments)
    9. Too soon? (25 points, 5 comments)
    10. Take money from banks. Deploy the fud. Take all back (21 points, 0 comments)
  10. 472 points, 17 submissions: RideYourChart
    1. Whales (68 points, 4 comments)
    2. “Fear Of Missing Out” (67 points, 6 comments)
    3. You here also because of "technology"? (65 points, 3 comments)
    4. Paid Groups (55 points, 2 comments)
    5. "it's just correction, bro" (50 points, 2 comments)
    6. Bottom again (44 points, 3 comments)
    7. This time will be x100 for sure (18 points, 0 comments)
    8. Bitcoin in last hours: (16 points, 1 comment)
    9. Initial Exchange Offering (IEO) (16 points, 0 comments)
    10. Stop Loss (13 points, 4 comments)

Top Commenters

  1. jaggedsoft (569 points, 194 comments)
  2. Thefriendlyfaceplant (161 points, 37 comments)
  3. MD5HashBrowns (118 points, 36 comments)
  4. cryptoparody (108 points, 38 comments)
  5. parakite (83 points, 37 comments)
  6. snoop_Odin (83 points, 25 comments)
  7. nathanielx9 (81 points, 29 comments)
  8. NOWPayments (74 points, 34 comments)
  9. coinminingrig (71 points, 24 comments)
  10. ChangeNow_io (70 points, 32 comments)

Top Submissions

  1. relatable by jaggedsoft (207 points, 11 comments)
  2. Dollar Cost Averaging into Crypto Right Now by minecoins247365 (190 points, 20 comments)
  3. When you buy Bitcoin at 19K by rewardstoken (181 points, 23 comments)
  4. How It Feels To Hold Altcoins Right Now by minecoins247365 (159 points, 18 comments)
  5. You gotta believe me! by gabi9900 (155 points, 8 comments)
  6. I’ve seen some shit by ZipZapBeepBoop (154 points, 10 comments)
  7. Yup. by diegojoke88 (151 points, 15 comments)
  8. I think this meme deserved a repost by NinjaDK (145 points, 7 comments)
  9. USD vs Bitcoin by coinvvolf (139 points, 9 comments)
  10. I like guys who take big risks 😨 by jaggedsoft (137 points, 7 comments)

Top Comments

  1. 31 points: T1Pimp's comment in Time travel ⌛
  2. 28 points: Iron0ne's comment in Stock trader vs crypto HODLer
  3. 24 points: yeahnoworriesmate's comment in You have been visited by the nice duck
  4. 23 points: Pr1max91's comment in Shoulda took the money
  5. 21 points: Gforcetuga's comment in Member when ____ happened in crypto? (fill in the gap)
  6. 19 points: I_Like_Tech_Drawings's comment in Dollar Cost Averaging into Crypto Right Now
  7. 18 points: Skoopitup's comment in Dollar Cost Averaging into Crypto Right Now
  8. 18 points: Thefriendlyfaceplant's comment in Yup.
  9. 18 points: kokomeows's comment in Me rollin' up to alt season
  10. 17 points: Citizen52's comment in relatable
Generated with BBoe's Subreddit Stats
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10 important facts about the project 📋

10 important facts about the project 📋
Every day more and more people get acknowledged about the project. Nevertheless, many do not have time to keep track of all the information that is published.
Now let us tell in order the most important facts and a short history of Roobee.

https://preview.redd.it/ek093481gx431.jpg?width=1400&format=pjpg&auto=webp&s=a493333c44e3816e18bb1d799254017c991b3f2e

Fact number one. Roobee’s story began in 2017.

The history of Roobee began in 2017, at the same time the domain Roobee.io was registered. (https://prnt.sc/ny3nsw)
As you can see, it has been more than a year and a half since the domain registration to the iEO launch. During this time, a lot of work has been done: Market research, platform modeling, development, packaging, etc.

Fact number two. Roobee team.

Team of the project — is one of the key parameters for rating any startup.
When creating Roobee, the team was also one of the key point for us.
Currently, a team of more than 30 people who previously worked at Goldman Sachs, JPMorgan, Lloyds Banking Group, Barclays, Lazada, Sumitomo Mitsui Banking Corporation, Banca Intesa and other big-name companies are working on the development of the project.
More information about Roobee team in this post: https://medium.com/roobee-invest/international-market-specialists-in-roobee-team-3a66eb611380

Fact number three. Operating Licenses

Operating licenses for the storage and exchange of cryptocurrencies in the EU have been obtained:
◉ Providing services of exchanging a virtual currency against a fiat currency;
◉ Operating as a financial institution;
◉ Service of trust funds and companies;
◉ Providing a virtual currency wallet service.
We are planning to continue in obtaining all the licenses and permissions required by the applicable legislation to effect legitimate activities within the territory of different countries.

Fact number four. A community of 300,000 potential Roobee users.

We have formed an active community of private investors (more than 300,000 people), who can become users of Roobee platform in the nearest future.

Fact number five. Crypto whales believe in the project.

August 2018

During the pre-seed funding round in 2018, an anonymous crypto-millionaire under the nickname “200Mtrader”, who had previously made a fortune of $200 million by trading cryptocurrencies invested in Roobee $4.5 million.
An anonymous trader nicknamed by Bloomberg as “200Mtrader” gave an interview to CCN. He explained why he decided to invest $4.5 million in Roobee 📝
“I only invest in projects that can reach a capitalization of $1bn within the time frame of 5 years. I see this potential in Roobee project, that’s why I invested $4.5 million into this blockchain-based investment platform.”, explains the investor.
Read the interview here: https://www.ccn.com/the-crypto-bear-market-wont-last
Forbes , marketwatch, and Reuters wrote about it.

April 2019.

$1 Million from the top-250 Bitcoin whales.
One of top-250 Bitcoin whale wallets (over 7000 BTC) has closed first stage of $1 mln private round IEO instantly.
The $1 million (200 BTC) transaction was sent by him via transit wallet to the Roobee’s wallet with the message “In Roobee I Trust” 👍
“I see the same potential in Roobee that I saw in Binance at the time. Roobee has a target on an actual problems of millions of people around the world and has great potential for development in the next years. I will hold Roobee token, just as I hold BTC, BNB, EOS and other cryptocurrencies that can grow greatly according to my calculations. “, explains the investor
You can see what Bloomberg wrote about it here: bloomberg
The whale entered a long term position through buying tokens. He hasn’t received his tokens so far. A huge lock up period was set on his tokens as well as gradual defrosting.

Fact number six. The first mentions about Roobee in media.

On December 28, 2018 the article about Roobee was published on the Forbes website: How An International Investment Platform Secured Substantial Investment In A Falling Market

Fact number seven. More than 145 mentions about Roobee in media.

On the whole, there were more than 145 publications about Roobee in media, including the most famous and reputable ones.
There are unique articles, as well as the reprints of previous ones.
Members of our community collected the selection of mentions regarding Roobee in media with confirmations. You can see it here, follow the link 📝
https://medium.com/roobee-invest/media-about-roobee-7026b856fa5d
We propose you to read the materials,☝️that appear regularly in an information field.

Fact number eight. Roobee in social media.

Only in 2019 we started to develop our community regarding Roobee. But the emphasis on the layout design of the platform as well as on the back end development remained.
Now, when we’ve started international expansion and tokensale, we created some accounts on different platforms, in order to have more opportunities to communicate with you in various forms.
Subscribe and follow the news about the project:
Telegram | Chat | Twitter |Facebook | Reddit | Medium | Instagram

Fact number nine. IEO

IEO of Roobee tokens was successfully finished on the Bitforex and EXMO exchanges.

Bitforex.

The first two rounds of Roobee tokens IEO were held on Bitforex.
• The first round was held on May, 13.
• The second round was held on May, 18.

EXMO.

Roobee tokens IEO was successfully finished on EXMO exchange

Fact number ten. Roobee.

Roobee — is an investment platform developed on blockchain, that will open an easy access to the world of investments for each person.
It will be possible to create your investment portfolio in a few minutes with the help of Roobee intellect, questionnaire and analysis of a person by photo. And with one button you can send funds to all selected instruments from the portfolio.
It is possible to invest even from 10$, getting access to already selected instruments all over the world (from crypto to stock and venture markets), including instruments with a large entrance threshold.
Blockchain in roobee will allow you to build the service on the principles of security and transparency of operations. You will be able to see transparent historical statistics for each investment instrument in which you intend to invest.
The entire Roobee team shares the idea of the service and strives to open a simple path to the world of investment for millions of people

We look forward to your support on the way 🙌

submitted by Roobee_io to u/Roobee_io [link] [comments]

‘Youngest Bitcoin Millionaire’ Willing to Stake it All on Metal Pay

‘Youngest Bitcoin Millionaire’ Willing to Stake it All on Metal Pay
https://preview.redd.it/f2hdpngkljh31.png?width=2000&format=png&auto=webp&s=5cc57b932f5e950203aec3cabcd9e686a6f9c585
Metallicus, the startup behind the peer-to-peer payments platform Metal Pay, received an undisclosed angel investment from the youngest bitcoin millionaire, Erik Finman.
In partnership with Metal Pay CEO Marshall Hayner, the two look to develop the first “all-in-one” cryptocurrency banking platform, which includes a 17 digital asset exchange, a digital bank and a payments application with social features similar to Venmo.
Founded in September, Metal Pay has processed approximately $11 million in total payments from nearly 130,000 registered users across 38 states. On a monthly basis, the company processes $1 million in crypto or fiat for around 30,000 active users, according to Hayner.
Finman staked a modest amount of bitcoin to finance the development of the banking and exchange ecosystem, he said, which currently holds approximately $2 million in crypto and fiat on the platform. Though Finman is willing to put in his entire “400 something” bitcoin fortune to fund Metal Pay’s growth, the 20 year old told CoinDesk.
“We’re looking to beat bitcoin,” Finman said.
“I’ve been a bit back and forth in the past (‘crypto is dead’/ ‘resurrect Bitcoin’) but have found in recent months, especially, that the bitcoin community is super fragmented. And the actual usability for bitcoin is minimal,” Finman said.
This project is an attempt to move beyond the siloed developments within the crypto industry and become a usable financial tool, he said.
Hayner agrees, and said crypto has grown to mirror “the existing financial industry,” rather than the open-source community where he found his footing in “the days when you could still mine BTC on a MacBook.”
Before Metal’s founding in 2016, Hayner helped build Stellar, Dogecoin and Block.io. The company previously received $3 million in funding from G2 Ventures, Gateway and Shapeshift CEO Erik Voorhees.

Crypto meets conventional

The two took a “crypto-agnostic” approach when building the system and have worked actively with regulators.
Metal Pay is partnered with Arkansas-based Evolve Bank and Trust to provide FDIC insured deposit accounts. As the platform develops, Evolve will help Metal Pay introduce a number of financial products associated with conventional banking services.
In 2018, Hayner also developed a proof of processed payment as a means of distributing MTL tokens native to the platform. The proof reaches consensus and validates transactions conducted on Metal Pay.
Instead of a mining reward, however, the counterparties receive up to 5 percent of the transaction volume in MTL, which, “for consumers, is construed as cash back,” said Hayner. These rewards, called Pop can be converted into fiat, sent to another Metal Pay user, or held as an investment.
MTL holders are rewarded in additional ways. For instance, those that “hold over 10,000 MTL on an average spot price between Binance, Kraken and Bittrex,” will not be charged fees. Further, Hayner said the company intends to offer free trading on MTL specific pairs and fee-less options for merchants following the introduction of Metal Merchant.
Metal Pay looks to gain market validation in a crowded field of payment apps like Venmo and Cash App. Hayner recognizes the difficulty in attracting non-crypto users, and is working to build an application that passes industry muster first.
He said:
“Bitcoin is flawed, but only in the way the Ford Model T was flawed, the concept of a car will live on and constantly be improved upon, hopefully it builds upon the existing model and there is always room for Ford, Toyota, Mazda, BMW, Tesla even!”
submitted by Rajladumor1 to omgfin [link] [comments]

AMA with Wanchain VP Lini

AMA with Wanchain VP Lini
Original article here: https://medium.com/wanchain-foundation/ama-with-wanchain-vp-lini-58ada078b4fe

“What is unique about us is that we have actually put theory into practice.”
— Lini
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Wanchain’s Vice President of Business Development, Lini, sat down with blockchain media organization Neutrino for an AMA covering a wide range of topics concerning Wanchain’s development.
The following is an English translation of the original Chinese AMA which was held on December 13th, 2018:
Neutrino: Could you please first share with us a little basic background, what are the basic concepts behind cross chain technology? What are the core problems which are solved with cross-chain? In your opinion, what is the biggest challenge of implementing cross chain to achieve value transfer between different chains?
Lini: Actually, this question is quite big. Let me break it down into three smaller parts:
  1. First, what is the meaning of “cross-chain”?
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In China, we like to use the word “cross-chain”, the term “interoperability” is used more frequently in foreign countries. Interoperability is also one of the important technologies identified by Vitalik for the development of a future blockchain ecosystem mentioned in the Ethereum white paper. So cross-chain is basically the concept of interoperability between chains.
  1. The core problem solved by cross chain is that of “multi-ledger” synchronous accounting
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In essence, blockchain is a distributed bookkeeping technique, also known as distributed ledger technology. Tokens are the core units of account on each chain, there currently exist many different chains, each with their own token. Of especial importance is the way in which each ledger uses tokens to interact with each other for the purpose of clearing settlements.
  1. The core purpose of the cross-chain technology is as one of the key infrastructures of the future economy based on digital currencies.
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Cross chain technology is one of the foundational technological infrastructures that is necessary for the large scale application of blockchain technology.
Neutrino: As we all know, there are many different kinds of cross-chain technologies. Please give us a brief introduction to several popular cross-chain technologies on the market, and the characteristics of each of these technologies。
Lini: Before answering this question, it is very important to share two important concepts with our friends: heterogeneity and homogeneity, and centralization and decentralization.
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These two points are especially important for understanding various cross-chain technologies, because there are many different technologies and terminologies, and these are some of the foundational concepts needed for understanding them.
There are also two core challenges which must be overcome to implement cross-chain:
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Combining the above two points, we look at the exploration of some solutions in the industry and the design concepts of other cross-chain projects.
First I’d like to discuss the Relay solution.
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However the Relay solution must consume a relatively large amount of gas to read the BTC header. Another downside is that, as we all know, Bitcoin’s blocks are relatively slow, so the time to wait for verification will be long, it usually takes about 10 minutes to wait for one block to confirm, and the best practice is to wait for 6 blocks.
The next concept is the idea of Sidechains.
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This solution is good, but not all chains contain SPV, a simple verification method. Therefore, there are certain drawbacks. Of course, this two way peg way solves challenge beta very well, that is, the atomicity of the transaction.
These two technical concepts have already been incorporated into a number of existing cross chain projects. Let’s take a look at two of the most influential of these.
The first is Polkadot.
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This is just a summary based on Polkadot’s whitepaper and most recent developments. The theoretical design is very good and can solve challenges alpha and beta. Last week, Neutrino organized a meetup with Polkadot, which we attended. In his talk, Gavin’s focus was on governance, he didn’t get into too much technical detail, but Gavin shared some very interesting ideas about chain governance mechanisms! The specific technical details of Polkadot may have to wait until after their main net is online before it can be analyzed.
Next is Cosmos.
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Cosmos is a star project who’s basic concept is similar to Polkadot. Cosmos’s approach is based on using a central hub. Both projects both take into account the issue of heterogeneous cross-chain transactions, and both have also taken into account how to solve challenges alpha and beta.
To sum up, each research and project team has done a lot of exploration on the best methods for implementing cross-chain technology, but many are still in the theoretical design stage. Unfortunately, since the main net has not launched yet, it is not possible to have a more detailed understanding of each project’s implementation. A blockchain’s development can be divided into two parts: theoretical design, and engineering implementation. Therefore, we can only wait until after the launch of each project’s main network, and then analyze it in more detail.
Neutrino: As mentioned in the white paper, Wanchain is a general ledger based on Ethereum, with the goal of building a distributed digital asset financial infrastructure. There are a few questions related to this. How do you solve Ethereum’s scaling problem? How does it compare with Ripple, which is aiming to be the standard trading protocol that is common to all major banks around the world? As a basic potential fundamental financial infrastructure, what makes Wanchain stand out?
Lini: This question is actually composed of two small questions. Let me answer the first one first.
  1. Considerations about TPS.
First of all, Wanchain is not developed on Ethereum. Instead, it draws on some of Ethereum’s code and excellent smart contracts and virtual machine EVM and other mature technical solutions to build the mainnet of Wanchain.
The TPS of Ethereum is not high at this stage, which is limited by various factors such as the POW consensus mechanism. However, this point also in part is due to the characteristics of Ethereum’s very distributed and decentralized features. Therefore, in order to improve TPS, Wanchain stated in its whitepaper that it will launch its own POS consensus, thus partially solving the performance issues related to TPS. Wanchain’s POS is completely different from the POS mechanism of Ethereum 2.0 Casper.
Of course, at the same time, we are also paying close attention to many good proposals from the Ethereum community, such as sharding, state channels, side chains, and the Raiden network. Since blockchain exists in the world of open source, we can of course learn from other technological breakthroughs and use our own POS to further improve TPS. If we have some time at the end, I’d love to share some points about Wanchain’s POS mechanism.
  1. Concerning, Ripple, it is completely different from what Wanchain hopes to do.
Ripple is focused on exchanges between different fiat pairs, the sharing of data between banks and financial institutions, as a clearing and settlement system, and also for the application of DLT, for example the Notary agent mechanism.
Wanchain is focused on different use cases, it is to act as a bridge between different tokens and tokens, and between assets and tokens. For various cross-chain applications it is necessary to consume WAN as a gas fee to pay out to nodes.
So it seems that the purpose Ripple and Wanchain serve are quite different. Of course, there are notary witnesses in the cross-chain mechanism, that is, everyone must trust the middleman. Ripple mainly serves financial clients, banks, so essentially everyone’s trust is already there.
Neutrino: We see that Wanchain uses a multi-party computing and threshold key sharing scheme for joint anchoring, and achieves “minimum cost” for integration through cross-chain communication protocols without changing the original chain mechanism. What are the technical characteristics of multi-party computing and threshold key sharing? How do other chains access Wanchain, what is the cross-chain communication protocol here? What is the cost of “minimum cost?
Lini: The answer to this question is more technical, involving a lot of cryptography, I will try to explain it in a simple way.
  1. About sMPC -
It stands for secure multi-party computation. I will explain it using an example proposed by the scholar Andrew Yao, the only Turing Award winner in China. The scenario called Yao’s Millionaire Problem. How can two millionaires know who is wealthier without revealing the details of their wealth to each other or a trusted third party? I’m not going to explain the answer in detail here, but those who are interested can do a web search to learn more.
In sMPC multiple parties each holding their own piece of private data jointly perform a calculation (for example, calculating a maximum value) and obtain a calculation result. However, in the process, each party involved does not leak any of their respective data. Essentially sMPC calculation can allow for designing a protocol without relying on any trusted third parties, since no individual ever has access to the complete private information.
Secure multiparty computing can be abstractly understood as two parties who each have their own private data, and can calculate the results of a public function without leaking their private data. When the entire calculation is completed, only the calculation results are revealed to both parties, and neither of them knows the data of the other party and the intermediate data of the calculation process. The protocol used for secure multiparty computing is homomorphic encryption + secret sharing + OT (+ commitment scheme + zero knowledge proofs, etc.)
Wanchain’s 21 cross chain Storeman nodes use sMPC to participate in the verification of a transaction without obtaining of a user’s complete private key. Simply put, the user’s private key will have 21 pieces given to 21 anonymous people who each can only get 1/21 part, and can’t complete the whole key.
  1. Shamir’s secret sharing
There are often plots in a movie where a top secret document needs to be handed over to, let’s say five secret agents. In order to protect against the chance of an agent from being arrested or betraying the rest, the five agents each hold only part of a secret key which will reveal the contents of the documents. But there is also a hidden danger: if one the agents are really caught, how can the rest of the agents access the information in the documents? At this point, you may wonder if there is any way for the agents to still recover the original text with only a portion of the keys? In other words, is there any method that allows a majority of the five people to be present to unlock the top secret documents? In this case, the enemy must be able to manipulate more than half of the agents to know the information in the secret documents.
Wanchain uses the threshold M<=N; N=21; M=16. That is to say, at least 16 Storeman nodes must participate in multi-party calculation to confirm a transaction. Not all 21 Storeman nodes are required to participate. This is a solution to the security problem of managing private keys.
Cross-chain communication protocols refers to the different communication methods used by different chains. This is because heterogeneous cross-chain methods can’t change the mechanism of the original chains. Nakamoto and Vitalik will not modify their main chains because they need BTC and ETH interoperability. Therefore, project teams that can only do cross-chain agreements to create different protocols for each chain to “talk”, or communicate. So the essence of a cross-chain protocol is not a single standard, but a multiple sets of standards. But there is still a shared sMPC and threshold design with the Storeman nodes.
The minimum cost is quite low, as can be shown with Wanchain 3.0’s cross chain implementation. In fact it requires just two smart contracts, one each on Ethereum and Wanchain to connect the two chains. To connect with Bitcoin all that is needed is to write a Bitcoin script. Our implementation guarantees both security and decentralization, while at the same time remaining simple and consuming less computation. The specific Ethereum contract and Bitcoin scripts online can be checked out by anyone interested in learning more.
Neutrino: What kind of consensus mechanism is currently used by Wanchain? In addition, what is the consensus and incentive mechanism for cross-chain transactions, and what is the purpose of doing so? And Wanchain will support cross-chain transactions (such as BTC, ETH) on mainstream public chains, asset cross-chain transactions between the alliance chains, and cross-chain transactions between the public and alliance chains, how can you achieve asset cross-chain security and privacy?
Lini: It is now PPOW (Permissioned Proof of Work), in order to ensure the reliability of the nodes before the cross-chain protocol design is completed, and to prepare to switch to POS (as according to the Whitepaper roadmap). The cross-chain consensus has been mentioned above, with the participation of a small consensus (at least 16 nodes) in a set of 21 Storeman nodes through sMPC and threshold secret sharing.
In addition, the incentive is achieved through two aspects: 1) 100% of the cross chain transaction fee is used to reward the Storeman node; 2) Wanchain has set aside a portion of their total token reserve as an incentive mechanism for encouraging Storeman nodes in case of small cross-chain transaction volume in the beginning.
It can be revealed that Storeman participation is opening gradually and will become completely distributed and decentralized in batches. The first phase of the Storeman node participation and rewards program is to be launched at the end of 2018. It is expected that the selection of participants will be completed within one quarter. Please pay attention to our official announcements this month.
In addition, for public chains, consortium chains, and private chains, asset transfer will also follow the cross-chain mechanism mentioned above, and generally follow the sMPC and threshold integration technology to ensure cross-chain security.
When it comes to privacy, this topic will be bigger. Going back to the Wanchain Whitepaper, we have provided privacy protection on Wanchain mainnet. Simply put, the principle is using ring signatures. The basic idea is that it mixes the original address with many other addresses to ensure privacy. We also use one-time address. In this mechanism a stamp system is used that generates a one-time address from a common address. This has been implemented since our 2.0 release.
But now only the privacy protection of native WAN transactions can be provided. The protection of cross-chain privacy and user experience will also be one of the important tasks for us in 2019.
Neutrino: At present, Wanchain uses Storeman as a cross-chain trading node. Can you introduce the Storeman mechanism and how to protect these nodes?
Lini: Let me one problem from two aspects.
  1. As I introduced before in my explanation of sMPC, the Storeman node never holds the user’s private key, but only calculates the transaction in an anonymous and secure state, and the technology prevents the Storeman nodes from colluding.
  2. Even after technical guarantees, we also designed a “double protection” against the risk from an economic point of view, that is, each node participating as a Storeman needs to pledge WAN in the contract as a “stake”. The pledge of WAN will be greater than the amount of any single transaction as a guarantee against loss of funds.
If the node is malicious (even if it is a probability of one in a billion), the community will be compensated for the loss caused by the malicious node by confiscation of the staked WAN. This is like the POS mechanism used by ETH, using staking to prevent bad behavior is a common principle.
Neutrino: On December 12th, the mainnet of Wanchain 3.0 was launched. Wanchain 3.0 opened cross-chain transactions between Bitcoin, Ethereum and ERC20 (such as MakerDao’s stable currency DAI and MKR). What does this version mean for you and the industry? This upgrade of cross-chain with Bitcoin is the biggest bright spot. So, if now you are able to use Wanchain to make transactions between what is the difference between tokens, then what is the difference between a cross chain platform like Wanchain and cryptocurrency exchanges?
Lini: The release of 3.0 is the industry’s first major network which has crossed ETH and BTC, and it has been very stable so far. As mentioned above, many cross-chain, password-protected theoretical designs are very distinctive, but for engineering implementation, the whether or not it can can be achieved is a big question mark. Therefore, this time Wanchain is the first network launched in the world to achieve this. Users are welcome to test and attack. This also means that Wanchain has connected the two most difficult and most challenging public networks. We are confident we will soon be connecting other well-known public chains.
At the same time of the release of 3.0, we also introduced cross chain integration with other ERC20 tokens in the 2.X version, such as MakerDao’s DAI, MKR, LRC, etc., which also means that more tokens of excellent projects on Ethereum will also gradually be integrated with Wanchain.
Some people will be curious, since Wanchain has crossed so many well-known public chains/projects; how is it different with crypto exchanges? In fact, it is very simple, one centralized; one distributed. Back to the white paper of Nakamoto, is not decentralization the original intention of blockchain? So what Wanchain has to do is essentially to solve the bottom layer of the blockchain, one of the core technical difficulties.
Anyone trying to create a DEX (decentralized exchange); digital lending and other application scenarios can base their application on Wanchain. There is a Wanchain based DEX prototype made by our community members Jeremiah and Harry, which quite amazing. Take a look at this video below.
https://www.youtube.com/watch?v=codcqb66G6Q
Neutrino: What are the specific application use cases after the launch of Wanchain 3.0? Most are still exploring small-scale projects. According to your experience, what are the killer blockchain applications of the future? What problems need to be solved during this period? How many years does it take?
Lini:
  1. Wanchain is just a technology platform rather than positioning itself as an application provider; that is, Wanchain will continue to support the community, and the projects which use cross-chain technology to promote a wide range of use cases for Wanchain.
  2. Cross-chain applications that we anticipate include things like: decentralized exchanges, digital lending, cross chain games, social networking dAPPs, gambling, etc. We also expect to see applications using non fungible tokens, for example exchange of real assets, STOs, etc.
  3. We recently proposed the WanDAPP solution. Simply speaking, a game developer for example has been developing on Ethereum, and ERC20 tokens have been issued, but they hope to expand the player base of their games to attract more people. To participate and make full use of their DAPP, you can consider using the WanDAPP solution to deploy the game DAPP on other common platforms, such as EOS, TRON, etc., but you don’t have to issue new tokens on these chains or use the previous ERC20 tokens. In this way the potential user population of the game can be increased greatly without issuing more tokens on a new chain, improving the real value of the original token. This is accomplished completely using the cross-chain mechanism of Wanchain.
  4. For large-scale applications, the infrastructure of the blockchain is not yet complete, there are issues which must first be dealt with such as TPS, sharding, sidechains, state channels, etc. These all must be solved for the large-scale application of blockchain applications. I don’t dare to guess when it will be completed, it depends on the progress of various different technical projects. In short, industry practitioners and enthusiasts need a little faith and patience.
Neutrino community member Block Venture Capital Spring: Will Wanchain be developing any more cross chain products aimed at general users? For example will the wallet be developed to make automatic cross chain transfers with other public chains? Another issue the community is concerned about is the currency issuance. Currently there are more than 100 million WAN circulating, what about the rest, when will it be released?
Lini: As a cross-chain public chain, we are not biased towards professional developers or ordinary developers, and they are all the same. As mentioned above, we provide a platform as infrastructure, and everyone is free to develop applications on us.
For example, if it is a decentralized exchange, it must be for ordinary users to trade on; if it is some kind of financial derivatives product, it is more likely to be used by finance professionals. As for cross-chain wallets which automatically exchange, I’m not sure if you are talking about distributed exchanges, the wallet will not be “automatic” at first, but you can “automatically” redeem other tokens.
Finally, the remaining WAN tokens are strictly in accordance with the plan laid out in the whitepaper. For example, the POS node reward mentioned above will give 10% of the total amount for reward. At the same time, for the community, there are also rewards for the bounty program. The prototype of the DEX that I just saw is a masterpiece of the overseas community developers, and also received tokens from our incentive program.
Neutrino community member’s question: There are many projects in the market to solve cross-chain problems, such as: Cosmos, Polkadot, what are Wanchain’s advantages and innovations relative to these projects?
Lini: As I mentioned earlier, Cosmos and pPolkadot all proposed very good solutions in theory. Compared with Wanchain, I don’t think that we have created anything particularly unique in our theory. The theoretical basis for our work is cryptography, which is derived from the academic foundation of scholars such as Yao Zhizhi and Silvio Micali. Our main strong point is that we have taken theory and put it into practice..
Actually, the reason why people often question whether a blockchain project can be realized or not is because the whitepapers are often too ambitious. Then when they actually start developing there are constant delays and setbacks. So for us, we focus on completing our very solid and realizable engineering goals. As for other projects, we hope to continue to learn from each other in this space.
Neutrino community member Amos from Huobi Research Institute question: How did you come to decide on 21 storeman nodes?
Lini: As for the nodes we won’t make choices based on quantity alone. The S in the POS actually also includes the time the tokens are staked, so that even if a user is staking less tokens, the amount of time they stake them for will also be used to calculate the award, so that is more fair. We designed the ULS (Unique Leader Selection) algorithm in order to reduce the reliance on the assumption of corruption delay (Cardano’s POS theory). which is used for ensuring fairness to ensure that all participants in the system can have a share of the reward, not only few large token holders.
Wu Di, a member of the Neutrino community: Many big exchanges have already begun to deploy decentralized exchanges. For example, Binance, and it seems that the progress is very fast. Will we be working with these influential exchanges in the future? We we have the opportunity to cooperate with them and broaden our own influence?
Lini: I also have seen some other exchange’s DEX. Going back the original point, distributed cross-chain nodes and centralized ones are completely different. I’m guessing that most exchanges use a centralized cross-chain solution, so it may not be the same as the 21 member Storeman group of Wanchain, but I think that most exchanges will likely be using their own token and exchange system. This is my personal understanding. But then, if you are developing cross chain technology, you will cooperate with many exchanges that want to do a DEX. Not only Binance, but also Huobi, Bithumb, Coinbase… And if there is anyone else who would like to cooperate we welcome them!
Neutrino community member AnneJiang from Maker: Dai as the first stable chain of Wanchain will open a direct trading channel between Dai and BTC. In relation to the Dai integration, has any new progress has been made on Wanchain so far?
Lini: DAI’s stable currency has already been integrated on Wanchain. I just saw it yesterday, let me give you a picture. It’s on the current 3.0 browser, https://www.wanscan.org/, you can take a look at it yourself.
This means that users with DAI are now free to trade for BTC, or ETH or some erc20 tokens. There is also a link to the Chainlink, and LRC is Loopring, so basically there are quite a few excellent project tokens. You may use the Wanchain to trade yourself, but since the DEX is not currently open, currently you can only trade with friends you know.
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About Neutrino

Neutrino is a distributed, innovative collaborative community of blockchains. At present, we have established physical collaboration spaces in Tokyo, Singapore, Beijing, Shanghai and other places, and have plans to expand into important blockchain innovation cities such as Seoul, Thailand, New York and London. Through global community resources and partnerships, Neutrino organizes a wide range of online an offline events, seminars, etc. around the world to help developers in different regions better communicate and share their experiences and knowledge.

About Wanchain

Wanchain is a blockchain platform that enables decentralized transfer of value between blockchains. The Wanchain infrastructure enables the creation of distributed financial applications for individuals and organizations. Wanchain currently enables cross-chain transactions with Ethereum, and today’s product launch will enable the same functionalities with Bitcoin. Going forward, we will continue to bridge blockchains and bring cross-chain finance functionality to companies in the industry. Wanchain has employees globally with offices in Beijing (China), Austin (USA), and London (UK).
You can find more information about Wanchain on our website. Additionally, you can reach us through Telegram, Discord, Medium, Twitter, and Reddit. You can also sign up for our monthly email newsletter here.
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A novice investor’s Guide to Cryptocurrencies

A novice investor’s Guide to Cryptocurrencies
When people first find out about the phenomenal rise of bitcoin prices and all the overnight bitcoin millionaires, many are excited to start trading cryptocurrencies. However with all the get rich quick schemes on youtube, there are many scams out there. The most infamous was Bitconnect lending platform of $2.6 Billion USD where lenders get high returns daily. Users were promised 40% monthly returns compounded for a year = 480% returns! Many novice investors who didn’t do enough due diligence was caught in this biggest crypto scam and lost their hard earned capital.


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Today is April Fool’s Day, but we are not going to fool you! Mars think that as a novice investotrader getting into the crypto space, you will need the right tools and knowledge to build a strong foundation about the blockchain and its ecosystem. Let out appointed Martian give you an introduction guide to crypto currencies. We hope this guide will be helpful to you and our Little Martian wishes everyone a good holiday!
As the saying goes: Everything is pre-established, not pre-emptive, as the cryptocurrency circle is small, if you want to become “old leeks” or even a legend in the future, you need to be prepared in advance, plan, and be prepared for it. Only the harder you work, the luckier you will be.
Let’s talk about the necessary guides, APP and tools to help you enter the cryptocurrency circle.
First, Theoretical Study

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Blockchains and digital currencies have only emerged in recent years. For beginners, most of them only know these two names or have simple concepts, such as equating a blockchain with a digital currency. As far as digital currency is concerned, it is thought that only bitcoin is used. Therefore, theoretical study is very necessary for newbie who wants to enter the blockchain industry and join the cryptocurrency circle.
  1. Book
For beginners, it is very important to understand the basic. Here are few books recommend to you:
《Blockchain Revolution》,《The Bitcoin Standard》,《The Age of Cryptocurrency》,《Bitcoin & Cryptocurrency Technologies》
  1. Currency information, market and navigation
Here are a few recommend blockchain and digital currency information:
0123456789.com, ChainNode chain node (formerly 8BTC Forum), Mytoken, feixiaohao, jinse Finance,
BC Mainland, Mars Media
3 Chat Tools: Telegram and WeChat group
  1. DAPP recommendation:
The DAPPX application market contains various types of DAPP applications, such as digital wallets, blockchain games, community tools, and more.
Second, Practical Operation

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The learning of blockchain and digital currency theory knowledge ultimately requires practical operations. If you have decided to invest in a digital currency, the next step is to choose a trusted platform for trading or storage. Currently, the market offers investors two options: digital currency exchanges or digital wallets.
Exchange: The three major exchanges are the Binance, Huobi and the OKEX. Go to their official website and follow their registration guiding process, and you can start making digital currency transaction.
Wallet: If you choose to use digital wallet for trading, you need to choose wisely because there are so many kinds of digital wallets on the market, with different features and functions. For beginners, choosing the one that is safe, reliable, and easy to operate is the most practical.

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Hence, we recommend a safe and professional digital asset wallet — Mars wallet.
Mars Wallet is an important node in the ecosystem under the Mars Blockchain Group, which uses google 2FA, a two-factor authentication process that provides four-fold security verification to ensure that users can be recovered in the event of hacking or fraud.
In addition, Mars wallet withdrawals are limited to every 24 hours, in order to avoid huge losses for users in the event of hacking. For beginners, it can be said that there are basically no worries about security.
The above is a comprehensive introduction by Little Martian! Doing your own research and making an informed decision is key to investing in the crypto space. One of the famous term in the space is “FOMO” which is fear of missing out! Do not be driven by greed, but rather by strong fundamental analysis. Even if the market is volatile, you will be holding a strong position as you believe in the project and the team behind it.

https://preview.redd.it/vxu8tpg6qmp21.png?width=800&format=png&auto=webp&s=bcc27efc166208cdb0e4fc4acf7889d879ae7e12
It is April Fool’s Day but we are not going to fool you! We are serious in giving prizes to our fans. If you are fooled today, please pay attention to our Facebook.
Here is what you need to do to qualify for our Super Reward lucky draw:
  1. Scan & Like our Facebook page
(https://www.facebook.com/Mars-Wallet-265410904409489/?modal=admin_todo_tour)
  1. The Participant has to comment below this post after entering this giveaway with a hashtag — #marsgiveaway
The winner will be randomly selected with the most heart-felt responses and send out another 10 consolation prizes, as well as a super prize.
Activity time: from April 1st until April 7th
Activity rules: pay attention to Mars Wallet Facebook
Prizes: Super Award (1): Macbook Pro 15 inch with touch bar
Consolation Prize (10): 2 USDT / per person
For more information on Mars Wallet, keep up with its following social media:
Telegram: https://t.me/marswallet
Reddit: https://www.reddit.com/use1-SG/
Twitter: https://twitter.com/1SG_2018
Instagram: https://www.instagram.com/marswallet_sg/
submitted by 1-SG to u/1-SG [link] [comments]

A novice investor’s Guide to Cryptocurrencies

A novice investor’s Guide to Cryptocurrencies
When people first find out about the phenomenal rise of bitcoin prices and all the overnight bitcoin millionaires, many are excited to start trading cryptocurrencies. However with all the get rich quick schemes on youtube, there are many scams out there. The most infamous was Bitconnect lending platform of $2.6 Billion USD where lenders get high returns daily. Users were promised 40% monthly returns compounded for a year = 480% returns! Many novice investors who didn’t do enough due diligence was caught in this biggest crypto scam and lost their hard earned capital.

https://preview.redd.it/qkt2xylfqmp21.png?width=760&format=png&auto=webp&s=4927b5581c4e30ba46f4c7c5a735c1799a558979
Today is April Fool’s Day, but we are not going to fool you! Mars think that as a novice investotrader getting into the crypto space, you will need the right tools and knowledge to build a strong foundation about the blockchain and its ecosystem. Let out appointed Martian give you an introduction guide to crypto currencies. We hope this guide will be helpful to you and our Little Martian wishes everyone a good holiday!
As the saying goes: Everything is pre-established, not pre-emptive, as the cryptocurrency circle is small, if you want to become “old leeks” or even a legend in the future, you need to be prepared in advance, plan, and be prepared for it. Only the harder you work, the luckier you will be.
Let’s talk about the necessary guides, APP and tools to help you enter the cryptocurrency circle.
First, Theoretical Study

https://preview.redd.it/a5rhkrsgqmp21.jpg?width=300&format=pjpg&auto=webp&s=921b802b7bae6f24a8e98e98b034f79fea6ea266
Blockchains and digital currencies have only emerged in recent years. For beginners, most of them only know these two names or have simple concepts, such as equating a blockchain with a digital currency. As far as digital currency is concerned, it is thought that only bitcoin is used. Therefore, theoretical study is very necessary for newbie who wants to enter the blockchain industry and join the cryptocurrency circle.
  1. Book
For beginners, it is very important to understand the basic. Here are few books recommend to you:
《Blockchain Revolution》,《The Bitcoin Standard》,《The Age of Cryptocurrency》,《Bitcoin & Cryptocurrency Technologies》
  1. Currency information, market and navigation
Here are a few recommend blockchain and digital currency information:
0123456789.com, ChainNode chain node (formerly 8BTC Forum), Mytoken, feixiaohao, jinse Finance,
BC Mainland, Mars Media
3 Chat Tools: Telegram and WeChat group
  1. DAPP recommendation:
The DAPPX application market contains various types of DAPP applications, such as digital wallets, blockchain games, community tools, and more.
Second, Practical Operation

https://preview.redd.it/ncplb18iqmp21.jpg?width=300&format=pjpg&auto=webp&s=3a8b3828279b2ae838b25a6697fe201fed25e9c2
The learning of blockchain and digital currency theory knowledge ultimately requires practical operations. If you have decided to invest in a digital currency, the next step is to choose a trusted platform for trading or storage. Currently, the market offers investors two options: digital currency exchanges or digital wallets.
Exchange: The three major exchanges are the Binance, Huobi and the OKEX. Go to their official website and follow their registration guiding process, and you can start making digital currency transaction.
Wallet: If you choose to use digital wallet for trading, you need to choose wisely because there are so many kinds of digital wallets on the market, with different features and functions. For beginners, choosing the one that is safe, reliable, and easy to operate is the most practical.
https://preview.redd.it/gxfazaziqmp21.png?width=360&format=png&auto=webp&s=64afc4fee1386c1789372834a89f182a0ea96dea
Hence, we recommend a safe and professional digital asset wallet — Mars wallet.
Mars Wallet is an important node in the ecosystem under the Mars Blockchain Group, which uses google 2FA, a two-factor authentication process that provides four-fold security verification to ensure that users can be recovered in the event of hacking or fraud.
In addition, Mars wallet withdrawals are limited to every 24 hours, in order to avoid huge losses for users in the event of hacking. For beginners, it can be said that there are basically no worries about security.
The above is a comprehensive introduction by Little Martian! Doing your own research and making an informed decision is key to investing in the crypto space. One of the famous term in the space is “FOMO” which is fear of missing out! Do not be driven by greed, but rather by strong fundamental analysis. Even if the market is volatile, you will be holding a strong position as you believe in the project and the team behind it.
https://preview.redd.it/h9chk6yjqmp21.png?width=800&format=png&auto=webp&s=f39b305b1c32694bba6bf310a635c5bf5f5d642f
It is April Fool’s Day but we are not going to fool you! We are serious in giving prizes to our fans. If you are fooled today, please pay attention to our Facebook.
Here is what you need to do to qualify for our Super Reward lucky draw:
  1. Scan & Like our Facebook page
(https://www.facebook.com/Mars-Wallet-265410904409489/?modal=admin_todo_tour)
  1. The Participant has to comment below this post after entering this giveaway with a hashtag — #marsgiveaway
The winner will be randomly selected with the most heart-felt responses and send out another 10 consolation prizes, as well as a super prize.
Activity time: from April 1st until April 7th
Activity rules: pay attention to Mars Wallet Facebook
Prizes: Super Award (1): Macbook Pro 15 inch with touch bar
Consolation Prize (10): 2 USDT / per person
For more information on Mars Wallet, keep up with its following social media:
Telegram: https://t.me/marswallet
Reddit: https://www.reddit.com/use1-SG/
Twitter: https://twitter.com/1SG_2018
Instagram: https://www.instagram.com/marswallet_sg/
submitted by 1SGD to u/1SGD [link] [comments]

Western Union is about to introduce cryptocurrency transfer services. Read more in the analytical report

Western Union is about to introduce cryptocurrency transfer services. Read more in the analytical report
Key market events in December 17-23, 2018
  1. According to the Blockchain Transparency Institute, most exchanges lie about their transaction volumes. The real figure is close to 1% of the number displayed on the CoinMarketCap. Bitfinex and Binance are exceptions, though, of course, many have doubts about Binance.
2.Bloomberg gained access to the financial documentation of Tether Limited, which issues the USDT stablebcoin, and confirmed that almost a year ago, on January 31, 2018, all the coins issued by the company were secured by $2.2 billion.
  1. Payment giant Western Union is about to introduce cryptocurrency transfer services right after the tests are done. However, according to the president of the division of the Global Money Transfer payment system Odilon Almeida, so far the cryptocurrency has not gained wide traction, since it needs to be controlled by the authorities and reduce volatility.
  2. The Reddit user under the nickname sotashi urged Bitcoin owners UTC to withdraw their funds from all exchanges on January 3 at 16:00 to celebrate the decade of Genesis Block, and at the same time to check how many bitcoins are in circulation now and whether all exchanges are truly decentralized.
  3. The Coincheck cryptocurrency exchange, which lost more than $500 million to the hacker attack in January 2018, received an operating license from the Financial Services Agency of Japan after improving service, increasing security and introducing anti-money laundering measures.
  4. An accounting company Grant Thornton LLP conducted a second audit of stablecoin USD Coin (USDC) by Circle and Coinbase, which confirmed it was secured by fiat currency. By the end of November 2018, 177,190,279 USDC were released, and $180,192,792. 7 more remained in the reserves of issuing companies.
  5. Bitcoin network complexity dropped by 10% as the coin value grew, and the miners started earning more on mining this first cryptocurrency.
  6. Coinbase, the largest US exchange, confirmed that it was transferring almost $5 billion in cryptocurrency to a new repository for the cryptoassets of its clients. The total transfer amount included 5% of company’s Bitcoin reserves, 8% of Ethereum stash and 25% of Litecoin.
  7. The analytical company McAfee Labs published a report, which says the number of virus software for hidden mining increased by 4467% in 2018. IoT devices are the main attack vector.
10.Facebook began the development of a stablecoin secured by US dollar for WhatsApp users. The coin would be launched in India, where the messenger has about 200 million active users.
  1. ConsenSys aims to close its startup incubator, which included 36 projects. The company explained that all these startups have not created cost-effective products and are not ready to join the new ConsenSys. Therefore, the number of ConsenSys employees can be reduced by 60%.
  2. The Israeli firm GMT, which has 250 branches and cooperates with MoneyGram, American Express and other financial companies, has joined the RippleNet network.
  3. Wong Ching, a 24-year-old Bitcoin millionaire, decided to raise awareness about the crypto industry in a rather peculiar way - he dropped 100 million Hong Kong dollars (about $12.8 million) from the roof of a high-rise building.
Market analytics from club experts for December 17 - 23, 2018
Surprisingly enough, the last week turned out to be rather joyful and full of festive mood. The price of BTC and altcoins started to grow. The total market capitalization climbed from $103 billion in the beginning of the week to $133 billion.
Trading volumes also showed a good growth - on average roughly $17 billion. The BTC kept dominating the market at 53-54%, falling to 49% only by December 20, when there was a massive increase in altcoin price.
The BTC price climbed from $3276 to $4009 over the week, peaking at $4144.
This week witnessed the historical maximum of BTC trade volume - 2.27 million BTC or $9 billion. The last record was set on December 7, 2017, with almost 2 million BTC.
Moreover, the drop of recent corrections during the weekend was followed by good purchasing volumes.
There are reasons to assume that the buyers have accumulated enough funds and strength, and the reporting periods, together with the u, keep pointing out that the trend is about to change - if not globally, then at least locally. We expect quite a few landmark events in 2019 - the launch of Bakkt is just one of them. The train is about to leave, so hop on!
Changes in the cost and capitalization of the TOP-10 cryptocurrencies in the period for December 17-23, 2018:

https://preview.redd.it/fmbgy5d359621.jpg?width=610&format=pjpg&auto=webp&s=caa637c2bb8b84f1c288808b12d396b72e441e02
4. TOP-3 growing coins from the long-term portfolio for December 17-23, 2018 (including portfolio updates)
What an amazing week – all coins in the recommended portfolio showed growth! The best-performing coins are NKN +110% (successful launch of the testnet), Mysterium MYST +103% (release of a VPN application for the blockchain), Edgeless +96% (official launch of Slots). Others kept up, with the exception of Quarkchain QKC, which only grew +7%.
Want to be the first to receive news, updates from analysts and trade signals? Join @gitsupport channel and start earning with us!
submitted by Golden_Island_Club to u/Golden_Island_Club [link] [comments]

Weekly Crypto Recap for the week ending July 27

Developments in Financial Services

Regulatory

General News

submitted by QuantalyticsResearch to CryptoMarkets [link] [comments]

Weekly Crypto News Recap for the Week ending July 27

Developments in Financial Services

Regulatory

General News

submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

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