51 Cryptocurrency Glossary: Dictionary of Cryptocurrency ...
51 Cryptocurrency Glossary: Dictionary of Cryptocurrency ...
Cryptocurrency Trading Glossary – Beginner's Guide by ...
CryptoTrading Lingo - CryptoAnalyst
Top-50 Slang Words and Terms in Crypto ー Changelly
Cryptocurrency Trading Fundamentals
First time investment/financial planning 28F single income
Hi all! I'm new to investing and planning for retirement etc, and also kind of new to reddit so apologies if I don't follow etiquette or rules properly. I've finally saved beyond my emergency fund goal and am ready to start putting money into retirement/investing etc, but I've got a lot to learn. I don't have anyone in my personal life who can give me advice or teach me about investing. Firstly I'm looking for recommendations on easy reads and cheap/free ways of learning about finance and investment for someone who doesn't know any of the lingo. I don't know the difference between a bank and a credit union for example, or what capital gains or assets mean. I've only been in Canada 5 years (I'm from the UK, no plans to return yet but if I do it probably won't be for another 5 years). Secondly, I'm looking for hints and tips for my current financial plan (below) before I actually start moving money around. I'm earning ~$50k and save an average of $800/month. I have ~$40k in student debt from the UK but at only 1.5% interest rate, and I'm currently repaying just above the interest rate which is more than the minimum payment. The debt supposedly wipes out after 25 years, but I don't trust the UK government not to sell off the loans and the idea of my debt increasing rather than decreasing makes me uncomfortable. With what I'm repaying I should finish paying it off in about 25 years anyway. I have $15k in savings currently in EQ earning 2% interest (1.43% after tax I think). I want to keep $10k in emergency funds in my EQ savings, and invest the remaining. I have never opened an RRSP or TFSA. I joined my company retirement savings plan in April which is 6% of my income with 9% match funding (about $3200/year from me and $8k from my company). I was thinking of putting my spare $5k into WealthSimple as follows: -RRSP: $1k starting balance, risk level 6 balanced, then $250/month added in. Probably won't touch it ever unless I decide to buy a house, so I'm hoping that the higher risk level will be worth it after 5-10 years. -TFSA: $1k starting balance, risk level 4 balanced, then $450/month. This I want to play a bit safer but still earn a decent return. I may want to dip into it in the next 3 years if i decide to buy a car or in 5 years+ for a downpayment for a house. -Crypto: when it opens, I want to put $1k into bitcoin and just leave it for 10-20 years and just see what happens. I tried getting into Quadrixa and another crypto trading site a year ago but had issues verifying my identity and ended up giving up. So that leaves me another $2k to play with for now. Should I hold onto it and keep it in EQ until I have a better idea for how to use it, or put it in my TFSA, or is there something else that's safe but will offer more than 1.43% interest after tax that I can put it into? I was going to put it in a low risk (level 3) personal account on WealthSimple but I think the yield on that was only 0.43% which was way less than EQ so I don't see the point? Alterna bank offers a 1.63% TFSA account so seeing as I won't meet my allowance anytime soon it could be worth putting some money in there, though I'm not sure it's worth the effort opening yet another bank account. I'm not really earning enough that I want to max out my RRSP for the tax income break yet. I'd rather have more 'useable' (cash?) savings, but perhaps someone can convince me otherwise. Any help/advice/personal experience would be appreciated! As well as reassurance not to panic if I lose money in the first X years. Thank you! Edit: Sounds like everyone is saying I should keep my RRSP allowance for when I'm earning more, and keep my emergency funds in the HISA and everything else into a TFSA. Not heard anyone say not to use the WealthSimple TFSA so I guess that's where it's going! Thanks everyone!
What are you going to do if you have 70% unrealized profit from the total of your stocks portfolio?
I am just wondering about the right and fastest strategy to grow my portfolio. I believe It is a perennial problem to a trader, whether to sell and amass the gain and waiting to make a hit in the next the trade or just hold (or HODL in crypto lingo) for a long term value investing kind of thing. So what’s your strategy?
Greetings! I’ve noticed a large influx of people asking about deck building and other card game basics on Discord and figured it’s probably about time to make a short guide on getting into custom decks. A quick primer on card games for those new to the genre: RESOURCES Mana Likely the first thing that comes to mind, Mana is what you use to play cards and is unlocked at a fixed rate of 1 per turn, up to 5. Your 6th and 7th take 2 turns each, 8th takes 3 turns and your final crystal unlocks after 4 turns. Cards often have power scaled to how much they cost, meaning an 8 mana creature will be significantly more powerful than a 3 mana creature, but will only be playable on turn 12 (after you’ve unlocked your 8th mana crystal). Therefore, its important to have cards playable at all points in the curve, regardless of what type of deck you’re playing. A deck full of extremely powerful cards is no good if you can’t play any of them. Health Next up we’ve got the stuff keeping you alive. Both players start the game with 30 and the game ends when one (or both) player hits 0. Health isn’t just a measure of how a game is going; you can also use it as a resource in order to help other aspects of your game. Instead of playing a low-stat creature with Frontline (must be attacked first), you can choose to play a higher stated card without, accepting the possibility that your opponent can now attack you directly. Health becomes more valuable as it decreases and you’ll want to manage your risk accordingly. If your opponent has enough damage on the board to end the game on their next turn, that Frontline unit is now much more useful than most other options as it may keep you in the game. Card Advantage Your hand is also a resource! Having more options available to you lets you make better plays, while relying solely on your draws will often force you to make poor decisions. Being able to take two of your opponent’s cards at the cost of one of yours will snowball into an advantage that’ll be difficult to overcome. When you're able to plan and take advantage of every aspect of your cards against your opponent struggling to make the best out of their random draws, closing out the game becomes much easier. Tempo Essentially the “pace” of the game. A crude way of figuring out “tempo” is your stats on the board compared to your opponent’s. If you have 5 3/3s on the board and can attack for 15 damage while your opponent has nothing, you have a tempo advantage. A 3/3 with Blitz that can attack immediately impacts the board state the turn that its played and carries significant tempo value, while a vanilla (plain) 4/5 may have stronger stats but less tempo the turn that its played. You may have a hand full of the strongest cards enough mana to play them, but if you’re too far behind on tempo catching up may be impossible. Affecting Resources https://preview.redd.it/bhfgu040o1u31.png?width=180&format=png&auto=webp&s=dffe910198a4d1aa99fb4dddc49b2a971b425cf4 Very few class have access to cards affecting Mana Locks, but Death and Magic both have access to cards like Mana Toad; an understat-ed 3-mana 3/1 that unlocks a mana crystal. This gives us a Mana advantage at the cost of Tempo https://preview.redd.it/10qdeu2ho1u31.png?width=180&format=png&auto=webp&s=d8be251ebf7e1e46d6bec3bd971032eb1d309292 Pack Stalk is a 1-mana spell that refreshes 5 mana gems (note* it doesn't UNLOCK 5 mana gems, meaning you're still locked to the maximum mana of that turn). It costs a card and doesn’t do anything on its own, however it can be played to accelerate your cards out a turn early; on turn 5 you can play both a 4-mana card and a 5-mana card. We’re trading Card advantage for Tempo. https://preview.redd.it/l1mrkohxo1u31.png?width=180&format=png&auto=webp&s=4d0f8519256accbdf033267baba660c0b77a5ea4 Void Banshee is one of the few cards that cost Health but has more stats than a normal 2-mana card. It’s a great example of trading Health for Tempo. https://preview.redd.it/0iychjlmp1u31.png?width=215&format=png&auto=webp&s=c31180294e9593ace7f9c0e56e3548c511d7caef Rune Viper Tincture is your traditional mana-heavy card draw. At a steep cost of 5-mana, it gives you a lot more options on your next turns but gives your opponent plenty of time to set up creatures on their turn. Here we're gaining Card Advantage for Tempo. https://preview.redd.it/f25pm5omq1u31.png?width=180&format=png&auto=webp&s=44d940a4a35fe1499bbbc1724a049db2882d88d8 Not all cards are a strict exchange of one resource for another. Cards such as Inferno can clear off many creatures for a single card, but have a hefty mana cost associated with them and won’t allow you to play many other cards in the same turn. In exchange for the high barrier and Tempo cost to playing this card, we often break even in Tempo as well as Card Advantage. With the basics out of the way, lets get onto figuring out how we’re going to win games! THE WIN CONS Aggro (Aggressive) Characterised by a low curve and aggressive cards looking to close out the game as fast as possible. These decks often have many cheap creatures with high stats or high impact RoaAfterlife and heavily emphasize tempo at all costs. Midrange These decks are a mix of aggressive cards and slower cards, often topping out their curve around 6-mana. We’re looking to slow down the game against faster decks, winning through Card advantage with our stronger 4-5 mana cards. Faced with slower decks Midrange plays similarly to Aggro, aiming to end the game before their opponent can set up a strong defense. Control Control decks are known for their big hitters, the core of their decks built on a few cards that can win the game on their own with the rest of the cards acting as support to help you get to your win conditions. The game plan here is to stay alive through the use of removal, Frontline and possibly cards with healing effects until we unlock enough mana to turn things around. We’ll often be playing from behind but when we get our threats online the game is ours. Combo/Specialty Combo decks play out similarly to Control decks with the caveat of needing specific cards to close out the game. One example is Deception’s Annoying Bureaucrat, completely shutting out the game if the opponent runs out of cards. At the start of their turn, they draw a card and immediately discard it, meaning if they don’t have an answer to the Bureaucrat the game is effectively over. https://preview.redd.it/2za4dl9kr1u31.png?width=180&format=png&auto=webp&s=eeddf3998850e29bbf2471a136e993e8c67b733e ------------------------------------------------------------------- YOU MADE IT Alright now we can actually build a deck! I’ll boil it down to as few steps as possible.
Pick a deck archetype
Put in your win condition
Add cards that support it
Add tools to help get you to it
Add high value, strong filler cards
As an example, lets build a Control Mage deck. Our win condition will be the biggest creatures we have available in our collection, able to win the game on their own if we can get to them. Helian Elite x 2 Cyclops Defender x2 Minotaur Phalanx x2 https://preview.redd.it/kbz6a5d8u1u31.png?width=1753&format=png&auto=webp&s=1e145895c175cd0b60d98591d00ddcb04b83695f Next we want to support our huge creatures. We can’t just play them against a full board and hope they survive, so lets clear things up a little with: Inferno x1 Astric Implosion x2 Ratify x1 https://preview.redd.it/ubnfc49vt1u31.png?width=1753&format=png&auto=webp&s=37424a72e4fcd719b8b6b304ad82b4ab4f72f91d Now we need to get to the stage where we’re clearing the board. Here’s where we want our early game tools: Starshard Bolt x2 Tracking Bolt x2 Mana Toad x2 Thebian Brawler x2 https://preview.redd.it/fx6x721hv1u31.png?width=2358&format=png&auto=webp&s=4d97183eb0a267097c568e78f5ffe80860ff3272 And to fill out the deck, cards with high stats for their cost or high impact Roar effects that affect the board immediately: Leyhoard Hatchling x2 Carthaginian Marine x2 Ogre Archer x2 Wetlands Ogre x2 Veteran Archer x2 Skeleton Heavy x2 https://preview.redd.it/vi8xeq0dw1u31.png?width=2358&format=png&auto=webp&s=91339b48fa52672890d55d34c93d278c502ed06d There we have it: one control mage deck complete with a number of win conditions and the tools to get us there. I suggest choosing Blastwave (against aggressive decks) or Seer (against control decks) as your God Powers to help support our playstyle, but feel free to experiment with whatever works best for you. There are better alternatives for quite a few of the cards but I just stuck to core cards as its the deck I personally used to climb to mythic and wanted others to be able to follow along if they wanted to. Hopefully this helped some of you! If I missed anything feel free to let me know and I'll edit it into the main post. Apologies for the formatting and shoddy photo editing, I am but a noob when it comes to Reddit/Paint/Photoshop. If anyone's thinking about trying the game out, I strongly recommend giving it a go. Its free to play and while the crypto-lingo can be a little daunting, you don't have to get into it if you don't want to. Hop into the Discord channel ( https://discordapp.com/invite/godsunchained ) if you've got any questions! Lots of friendly people willing to help you out :). I'll try to answer any questions regarding deck building (or really any questions for that matter) if you leave them here or message me over Discord. Here's the mandatory plug for my referral link, feel free to sign up without using one though! https://godsunchained.com?beta-key=SHIhrXgZaH (SHIhrXgZaH is the code if that's all you're looking for) Vadeski is my ID on Discord Vadeskye is my IGN on Gods Unchained
So these Mandalorian Tracking FOBs, do they use an Imperial Blockchain? Im not trying to inject cryptocurrency talk, but they are literally talking about private keys and such. Its so cool to include that in Starwars. I imagine the trade guilds having massive exchanges that trade stars and planets.
So I watched episode one, and then I saw the second episode on Disney Plus and I just paused it after seeing a Tracking Fob and I just had to ask, what blockchain are using, a centralized Imperial blockchain? or a decentralized bounty hunter network? ;) In the first episode's meeting between the Protagonist and the guy who gives out the "Pucks" ..... Im not trying to inject cryptocurrency talk, but he literally is talking about private keys and such. Its so cool to include that in Starwars. Reminds me of the Ferengi in Starwars, intergalactic exchanges where people sell planets, people, trop moons like Lando in Solo, where he mentions winning a moon, but in a poker game BUT im sure they use credits that have to be checked somehow.... Also people obviously had bounties which was a form of a wallet in a way, I mean a person could be identified maybe genetically with the bio scanner, and then, frozen in carbonite and a private key matched, however, im sure there will be episodes where people swap FOBs and capture the wrong people etc, hacking tracking FOBs etc. Proof of Work wont work in Star Wars universe when people have death star loads of power to generate hash power to essentially break ur encryption with probably just one Star Destroyers onboard computers lol. I imagine the time AFTER the empire however, is still full of finance and fintech galore, with trade guilds filling the void, but I havent read the Canon of what comes next, I mean I know the new Order and the whatever happens but i just cant accept that new star wars stuff it makes me sad i dunno, its like a zoomer got to the star wars we all know and loved, and tried way too hard, i dunno, maybe episode 9 will be better? Ill go see it soon. Anyway I have some plans to inject Keylontic Science UFO lore into Star Wars and connect it to earth in an interesting way, but first id like to do this with Star Trek. I think we have to ramp up all sci fi for our up coming Mars and Moon missions thanks to Space X and Nasa etc, its essential to make Sci Fi and space travel and engineering as interesting to young people as possible. ANyway sorry for rambling I just had some ideas wanted tow rite about anyway BACK to my question about what MONEY system they use in the mandalorean..... Also in that first table sit down exchange they have a talk about "Imperial credits" being just as spendable lol... seems like they need more volume. I noticed some interesting historical political stuff with the whole money exchange in the second meeting between the protagonist and the vestigial Imperial Boss (like an old Nazi left over after ww2) he gives him what is basically Nazi Gold lol, but its Mandalorian metal thats been looted, and he repays him in his own peoples looted metal, maybe the Mandalorians are like in a Diaspora, like Israelis hunting down the nazis after ww2? I wonder if the Empire had a fiat currency or had to rely on a decentralized math backed currency due to the same problems we see in Warhammer 40k where the empire of a galaxy is so vast its hard to communicate monetary policy and things just sort of collapse into medieval shit in some places while other places look like coruscant.... theres a disparity between worlds and I guess thats the whole point , we must be Planetary Chauvanists and think about our planet first unless we had some sort of portal system, only then could I see people caring enough between planets Anyway the idea of a inter planetary galactic stock market or crypto currency exchange is so interesting, Ive seen it in Star Wars Enterprise with the orisons slave market, and DS9 with the ferrengi markets visible to Quark maybe over sub space Im not sure if Starwars has Subspace tech to have faster than light internet for communication and finance? If we humans already have Bitcoin and smart contracts like eosio then I imagine Star Wars bounty hunters had some sort of BLOCKCHAIN for tracking Bounties using oh i dunno..quantum kyber crystals that have to be matched and can never be faked, like tally sticks but using the force, maybe thats how the FOB's can get activated, its like the challengedac or something, GPS smart contracts but for the whole galaxy, tracking FObs are interesting so i looked it up wondering what "FOB" stood for as i knew it couldnt just mean a keyless entry keychain thing.,... FOB stands for “free on board” or “freight on board” and is a designation that is used to indicate when liability and ownership of goods is transferred from a seller to a buyer. That blew me away... that this mandaloran show is using the lingo of the industry and I had no idea FOB stood for Freight on Board. Ok anyway guys i was just recovering from the flu and wanted to have some fun talking about star wars and Bounty Hunter Blockchain crypto currency for validation of bounties captured.... just so fun to talk about tracking FOBs and space X and if we can have real M. Falcon and tie fighter shaped space hotels on the ISS and private spaceX space hotels VERY soon in the next few years, obviously Disney will have to be involved so they can sell the rooms directly from Disney Land and have a space port AT Disney land for real....... and tesla will have star wars looking speeders and star wars themed boring tunnel "rides" that will just be normal boring tunnel tunnels from LAX to Disney land but will be fitted out with projectors, lasers, in tunnel screens and extra stuff to make the boring tunnel rude more of a disney land ride in itself :D We could have a Disney mandalorian hired actor for every train, with LED weapons and armor accessories that light up in the dark when the whole tunnel goes dark when the train appears to be hijacked by raiders or other bounty hunters, and youll have a WHOLE experience in a boring tunnel ride for DIsney Star Wars Space X Space Port ride, lol, on your way to Disney MARS or disney MOON park, because who else is going to make us feel at home on the moon but Disney? Galaxies Edge could be so incredibly REAL with a SPaceX Deal for a real space port out in the desert using same boring tunnels that would take you from DIsney to Las Vegas anyway, so halfway there youd get out to a Disney Space Port to take you to a SpaceX launched Space Hotel just like the International Space Station. Im sure Disney and SPaceX working together could raise the funds to launch a Millenium Falcon shaped Space Hotel. Anyway I know thats different from my title but now I just wanna write a proposal for SPaceX DIsney Star Wars Space Hotel, and Disney SpaceX Space Port in desert outside Galaxies Edge using Boring Tunnel to get there, use the money from the space hotel to build the Disney Moon and Mars bases.
Talk The Trader Talk: A Journey Into The Realm Of Trader Slang
Slang is a natural evolution of a language under working conditions. Every industry has its own slang vocabulary, which may or may not be composed of morphologies of words directly related to the job. Sometimes situations related to the job may evolve or devolve into adjectives, verbs, nouns of even completely new words that reflect the object in question. To the uninitiated, such terms may sound like gibberish and could well resemble the talk of thugs that has been so vividly presented many times over in television series and movies. Whether it is pidgin, slang, argot, or a dialect, industries have their own ways of expressing their ins and outs. For instance, the exhaust system of automobiles is often called the "puffer" among mechanics, a "fat finger" is a larger than intended trade among bankers, a "gat" is a weapon among street gangs, and "all day" is a life sentence among prisoners. The lists of slang terms are endless and are an extremely interesting read. https://preview.redd.it/704sgly6nfz31.png?width=820&format=png&auto=webp&s=9d7fe3b1ef36869834dbf284ea0fcb4a7caee720
The Trader Lingo
To make sure that MoonTrader users get into the feel of what it is like to be part of the crypto market, we have compiled a comprehensive summary of some of the most widespread slang terms used by traders. Knowing these terms is an important part of working on an exchange, as understanding what traders are talking about is half the job of becoming one of them and being able to delve into the processes taking place. To talk the talk and walk the walk, traders must understand each other and, most importantly, shorten their speech into a mixture of phrases comprehensible only for the initiated and mystical to outsiders. Babysitting: A slang term used by traders all over the world from Wall Street to the most obscure exchanges in Africa. The term means holding a trade that has been losing out for a while in hopes that it will gain in price, usually in vain. For example: “You’ve been babysitting that option for way too long, it’s a hopeless cause.” Crunching: A situation in which a stock’s or asset’s price starts falling rapidly and has no support levels. For example: “The XXX stock is going down the drain. It’s crunching, leave it!” Jig Out: This is a situation when the market makes a sudden turn for the worse and an investor or trader loses out as a result. For example: “The YYY stock jigged out on me today. Lost half a mil.” Learning Curve: A fairy common expression meaning the amount of time and effort someone, such as a budding new trader, has to put into something to master the art and “learn the ropes”. For example: “The learning curve for Forex is pretty steep.” Melt: Another fairly common expression that can be encountered in the world of finance, which signifies that a lot of money has been lost and an account has been depleted. For example: “My account melted through today after the market jigged me out on that nut.” Nut: While nuts may be tasty as a snack or very useful for keeping things bound together with bolts, in trading a nut is the total amount of commissions that have to be paid for a certain trade. For example: “The nut on ZZZ is crazy these days.” Permabull / Permabear: Since bullish markets are positive and bearish markets are sleepy, the traders working on such a market are called bulls or bears. There are some optimists who believe that such markets are always there. These traders are called permabulls. The opposite are permabears. For example: “Even if the market is dead and floating, he will still act like a permabull”. https://preview.redd.it/rj90k43enfz31.jpg?width=680&format=pjpg&auto=webp&s=86c9c63f1484cc49f683ae12159d03429f465341 Printing on the “O”: If we consider that O is an extreme abbreviation of the term “Override”, then the phrase means that the price of an asset is below the bid price and there is an urgent need to sell it. “XYZ is printing on the Os all day!” ScalpeScalping: The idea of scalping is opening hundreds and thousands of small trades in a short amount of time in hopes of generating a large amount of small profits. Scalpers are traders who engage in scalping. For example: “He’s a heck of a scalper.” Slippage: A common situation for inexperienced traders who lose on assets that are insoluble and cause losses due to higher or lower prices. For example: “He’s been slipping on ZZZ for three weeks in a row.” Squiggly Lines: Technical analysis consists of graphs and indicators that traders use to make sense of market dynamics. The lines on graphs are never straight, which would mean that the market is comatose, thus they are called squiggly, or uneven lines. For example: “I’ve been staring at the squiggly lines all day and my eyes are popping out.” Tank: A tank is not only a military machine or a container, but also a verb, which could either mean to fill something up, like a container or a stomach, and also a drop. In this case, tanking means a market collapse. For example: “The market’s tanking! All is lost! All is lost!” Unicorn, Vulture, Whale: The trading terminology bestiary is full of terms that have gained animalistic form. A unicorn is a situation reminiscent of the mythical beast, when a startup has reached a $1 billion valuation. A vulture is a trader who preys on falling assets and buys them up in hopes that they will rise in the future. A whale is a holder of a large amount of capital or an asset. https://preview.redd.it/gj479zvhnfz31.png?width=700&format=png&auto=webp&s=e89c8bc881323f531661b2f7f355a470607765f1 Stick: The US dollar has a lot of synonyms from bucks and dough to aces and greenbacks. The stick is another synonym for the US currency used in trading. For example: “Made a K load of sticks today trading XYZ.” Whack: A fairy straightforward term meaning that a trader has lost a fair amount of money. For example: “I got whacked trading ZZZ the other day.” Bottom Fishing: There are traders and there are speculators. When a market has “tanked”, assets usually cost much lower and a certain breed of traders emerges who start buying up assets that have lost in value in hopes of selling them off at higher prices later. Such actions are called bottom fishing, or scooping up assets that have floated to the surface of a market like dead fish after a bomb goes off underwater. For example: “The market has sunk today and the sharks are bottom fishing.” Choppiness: The market is never a calm place and its trials and tribulations are often compared to storms and waves. Since waves can be choppy, or rough in terms of the height of their crests, it is fair to compare market volatility to wavy seas. For example: “The choppiness of the market is not allowing institutional investors to enter with their capital.” Dark Pools: There is always liquidity on the market that is hid away from average traders. Such liquidity is called a dark pool, which is usually in the hands of special groups. In essence, these are trading volumes created by orders placed by institutional investors. For example: “The dark pools are buying up Bitcoins real quick.” Dead Cat Bounce or Rubber Band Effect: Since markets are unpredictable, it is often possible for markets to suddenly rebound after seeming dead for a long time. Such a situation is called a dead cat bounce, or a rubber band effect, which is quite figurative in itself. For example: “The market is preparing for a possible dead cat bounce after the recent wave of news.” Hodl: A bastardization of the term Hold, misspelled by a drunk BitcoinTalk user, which simply means holding an asset in hopes that it will rise in price. For example: “Hodl Bitcoin! Hodl it!” Short squeeze: There are situations when an asset suddenly rises in price and forces traders to close their positions. For example: “The holders were forced to short squeeze after the price of ZZZ suddenly spiked”. Resistance Zone: In technical analysis, this is the area between the current support and resistance areas. Prices usually start resisting other prices in such areas and may start falling. For example: “The resistance area of $120 has been reached for ZZZ and we can expect a decline to areas of $100.” Fallen Angel: Assets that may have reached price heaven are not guaranteed to stay there and it often happens that a highly valued asset has suddenly lost in price. Usually, this biblical analogy refers to high yielding bonds that once had investment grades. For example: “ZZZ has turned into a fallen angel after the US introduced sanctions against country YYY.” Fat Tail: In statistics, such cases are called outliers and signify that a value has moved away from the mean and has gained a high degree of riskiness. For example: “ZZZ is showing fat tails and will soon reach non-investment levels.” Flavor: Given the abundance of types of orders and assets on the market, traders often do not distinguish between them and simply call them different flavors. For example: “How about some ZZZ flavor?” Hit The Bid: A rather straightforward expression meaning that someone has decided to sell an asset. For example: “The price just hit the low, so go and hit the bid”. Odd Lot: A lot is usually considered to be a million dollars. An odd lot is anything under a million dollars. For example: “I sold that odd lot of ZZZ yesterday.” Smoke And Mirrors: The poetic expression has made its way onto the market and means that a corporate entity is distorting the market image in hopes of attaining its own goals, usually to make an asset seem more attractive. For example: “The market is all smoke and mirrors after ZZZ flushed its stocks on.” The list of trading slang terms is endless in its variety and the only way to fully immerse one’s self into it is trading actively and gaining experience. Years of work on any market in any industry will eventually saturate a participant’s mind with the necessary skills and terminology turn any greenhorn into a pro. Check us out at https://moontrader.io Facebook: https://www.facebook.com/MoonTraderPlatform Twitter: https://twitter.com/MoonTrader_io LinkedIn: https://www.linkedin.com/company/19203733 Reddit: https://www.reddit.com/Moontrader_official/ Telegram: https://t.me/moontrader_news_en Originally posted on our blog.
Just got paid in Bitcoin, not sure what to do with it
Long story short, I lent a friend $20 and I let him pay me back in crypto. He helped me download and set up Coinbase on my phone, but I don't have much of an idea what to do from here. I tried jumping in feet first, but most of the videos I've found are talking about investments and market trends in the hundreds or thousands... I have $20. Some of the lingo is going over my head as well, though I do remember bits and pieces from a finance class I took back in highschool. I'm really looking for a primer or guide to help me get started. I know that $20 isn't a lot, but I'm not ready to risk my own money until I understand crypto a little better. I'm interested in more long term planning, no day trading or anything like that. I want to see how much I can grow this $20 in a years time. (I also don't have a PC, so I'm limited to an Android smartphone) I'd appreciate any advice!
Hello WSB, I am one of the newest mods on the team here. Now, in an effort to restore the sub to its former glory I would like to start a discussion before wildly swinging the ban hammer. While ban hammers are fun, they aren’t very effective. REMINDER OF RULES
No promotion of any newsletter / education service for profit / referral or affiliate links. (May result in permeate ban)
No discussion of penny stocks or OTC
Do be responsible giving and taking advice.
Do have discussions that relate to trading.
Don't try to talk about what you don't know.
Don't post your paper trades / RH < 20k
Don't make posts asking for a trade, IE submissions that boil down to "?" or "What do with $?"
Don’t ask how options or another financial instrument works, do your own research.
Post asking about what you think and leading to a discussion.
REMINDER OF THE UNSPOKEN RULES
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Please don’t cross post memes and lingo. We are WS FUCKING B. (Personally, I like tendies but reuse a meme to many times and we just about killed it.
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FUTURE OF WSB
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Ps. Ps. Invite your girl to our discord, I’ve never heard a single female talk and its getting dry.
We all know that Kin is a unique digital currency, that it has value and utility, and that the Kin Ecosystem, currently in development, is going to be big--very big. But let’s look back for a moment. In order to see the scope of what’s happening, and where we’re going, it might be useful to look back, at where we’ve been. Kin was started by the good folks at KIK Messenger. As Facebook and Google grew to gargantuan proportions, it became obvious to all that the old-school model of Advertisement Placement for monetization was becoming untenable for anyone other than the biggest and most entrenched of companies. Yes, the Facebooks and Googles of the world were doing fine with monetization via advertisements, and were busily scalping data from their users in a feeding frenzy to capitalize on the one asset they could sell… those users’ attention. While most users thought Facebook was designed to give the social media platform as the product, and that they themselves were the customers, the reality is far different. The truth is that the advertisers were the actual customers, and Facebook users were the actual product. Very much like the Matrix, isn’t it? We are fed a social media mental “pudding,” and in return we give Facebook hours and hours of our attention… which it then sells to the advertisers. Understandably, this realization came as a shock to those who were able to see and understand this revelation. Many users still do not grasp the reality of the situation, and are happily, mindlessly eating the pudding. Leaving aside the distasteful mental image this business model give us, it created a problem for up-and-coming, and smaller but established Social Media companies. The smaller SM operations were left in a bit of a financial quandary… advertisers were loathe to spend on smaller platforms, because the reach of the giant platforms was so large and all inclusive. The remainder were basically crumbs on the floor. From this basic problem… and the ensuing economic reality… came the idea for Kin. Monetization is a concept that no one really enjoys talking about. For most of us, we’ve come to accept that ads are a necessary evil that we pay attention to in order to receive content; at this point most of us simply grit our teeth and press on. No, I’m never ever going to buy that silly spray to cover up the smell of your poo, but go ahead, play the damned video ad… again. I digress. But what if there was a way to change the dynamic so that the SM platform user’s attention was no longer the product that got sold to monetize the operation? What if the user could sell his or her OWN attention, and be rewarded thusly? And what if there was a way to compensate developers and businesses who work in the ecosystem for this activity as well? What if the user actually became a rewarded participant in the engine that generated income? And was even able to generate income for themselves in the process? What if a system was designed to reward users, developers and investors, all at the same time? This is the basic premise of Kin. THE GENESIS of KIN In 2009, Kik Interactive was formed by a group of college students at the University of Waterloo, Canada, in order to create applications for mobile devices and smartphones. Soon thereafter, the Kik Messenger was launched. In it’s first fifteen days, Kik enrolled over one million users. Over the years, Kik has solidified itself as a strong niche player in the messaging app world. Initially, Kik monetized itself by placing advertisements, but realized over time that ad revenue might not be the best way to keep Kik in solvent. After several years of struggle, Kik embarked on an experiment and instituted a program called “Kik Points.” This program allowed Kik users to participate in a very basic and limited “earn and spend” program. The users would answer surveys, or watch videos, in order to “earn” Kik Points… which they could then spend on in-app programs like sticker packs or emojis. What the Kik folks saw was a very enthusiastic, large group of people working to earn, and then spend Kik Points, in a transactional rate and density that dwarfs that of every cryptocurrency, including Bitcoin. Kik then knew it was onto something. The team got to work, and after years of design, Kin was born. The Kin token was introduced into the crypto universe through an ICO (initial coin offering). The Basics of Kin Kin is the first cryptocurrency designed for mass-adoption and utility. It was engineered, specifically, to act as a currency to be used in millions of daily small and micro-transactions. In other words, it was a coin designed to be “spent” by the masses, not held by speculators. Kin is designed to reward people for using the coin. The Kin Rewards Engine (KRE) pays Kin to users and developers who contribute to the ecosystem. This does “inflate” the circulating supply of the coin, which in turn keeps the value of the individual coins in check, but in reality this is a core design component of Kin. Kin is designed to grow in value, but is designed to grow more slowly because of the extreme volatility witnessed in the growth of other coins. This kind of volatility would destroy Kin’s ability to be used as a true currency. The KRE serves two purposes, then; to reward those who boost the ecosystem thought their efforts, and to moderate the extreme peaks and valleys that have plagued cryptocurrency since the invention of Bitcoin. Bitcoin, for example, has morphed into a “store of wealth” rather than an actual usable currency. It is “deflationary” in nature; in other words, the scarcity of it is the sole driver of it’s value. The high cost of Bitcoin transactions, extreme value fluctuations and slow processing speed all hinder its use as a true currency. Additionally, why would someone spend Bitcoin when it may appreciate significantly in a short period of time? We all have heard the story about the two pizzas that were bought with 40,000 BTC… which would make those two pizzas worth over $300 million dollars today. And why would a merchant accept a currency that might lose a large percentage of it’s value very quickly? With a deflationary, speculative currency like Bitcoin, swings of plus or minus 30 to 50% within a few days are not uncommon. Kin, on the other hand, is designed to be used and spent by millions of users. It’s value will also grow significantly, but that growth will be relatively stable, with few of the huge peaks and valleys we’ve all seen in other cryptocurrencies. This is directly due to the large initial supply of Kin tokens (756 billion) the large maximum supply (10 trillion) and the design of the KRE. Most people with any crypto experience see that 10 trillion figure (the maximum circulating supply of Kin) to be a huge detriment at first blush. This is because they haven’t grasped the need for that many tokens. Looking at it from the perspective of other crypto, 10T coins is a ludicrous, astronomical number of coins. And with any other coin, it would bake no sense. But Kin is unique. It’s a true currency, not a store of wealth. It is designed to create value growth through usage, not through speculative buying, selling and holding. When Kin reaches mass adoption, the larger supply of coins will keep the price of the coin relatively stable while it grows in value, and will significantly reduce volatility. Notice that I did not say that the large supply will reduce appreciation; it won’t. That’s because while Kin is designed to be an inexpensive coin, and should never experience the volatility of Bitcoin, that doesn’t mean it won’t gain and accumulate value. It most definitely will. There are no limits to that appreciation, and those who buy Kin now, while the price is well below 1/100ths of a cent, will see significant return on their investment. That opportunity, as significant as it is, is not going to last much longer, and will not be available again. Kin is designed to go against the “normal” crypto path of pump and dump. It is not designed for arbitrage trading. Again, it is designed for utility, to be earned and spent, unlike most cryptocurrencies. Kin is designed to be an inflationary coin, not a deflationary coin. In that, I mean that Kin, through the KRE, injects liquidity into the ecosystem and does not appreciate solely due to its scarcity. The KRE rewards those who have significant positive effect on the ecosystem by awarding Kin to those entities or people. If you develop an app that captures people’s imaginations and is wildly successful (think PokemonGo), and you’re using Kin to monetize that app, that effect on the Kin Ecosystem will be greatly rewarded with equivalent Kin. By injecting this liquidity into the ecosystem, the KRE rewards those who make the ecosystem work. This also tends to have an inflationary effect that slows the growth of the coin into a manageable upward trajectory, versus a hyperbolic, exponential increase. Bitcoin, on the other hand, is deflationary… which means that no new BTC will be brought into the BTC system, and its value is based solely on that perceived scarcity. Since it has no mass adoption or real utility, and it’s value can rise and fall very quickly in large amounts. People buy Bitcoin for two reasons only today; speculation, and movement of fiat currencies into other cryptocurrencies. Speculation is the reason most people get into cryptocurrencies; with the advent of Kin, that will no longer be the case. Once Kin begins mass adoption, the majority of people in cryptocurrencies will be in Kin, and will be using, earning and spending Kin without buying the coin on an exchange. They will not be speculators, they will be users. Speculation has been the name of the crypto game in the past, of course, but that is about to change. Speculation on crypto will become the minority use case, not the majority. Bitcoin will always have a place, obviously, but can you buy groceries with it? Can you pay your electric bill? Can you go out to eat using Bitcoin? No. Bitcoin will always be the first cryptocurrency, but it is not a mass-adoptable currency with any single, strong use case in its current form. Kin was designed with Bitcoin’s failings in mind. The question comes up: Will Kin ever be a truly valuable coin, even with a ten trillion coin supply? The answer is an emphatic YES, it will. It will never be a short-term investment; there will be no 10x tomorrow, or 100x next week. But for the patient, the growth is coming. For the long term HODLer, the rewards will be significant indeed. Let me explain why the Kin Foundation, in designing Kin, chose to make the circulating supply 10 trillion Kin tokens. Why are there 10 Trillion Kin? To be a true currency with mass adoption, used by millions of people, there needs to be a large amount of Kin available. Otherwise, in very short order, people would be using Kin in decimals. It was decided that people would rather earn and spend multiples of Kin (i.e., 1000 Kin or 500 Kin) versus decimals of Kin (i.e., 0.0001 Kin or 0.0005 Kin), as is now necessary with Bitcoin, Ethereum and many others. Note that Kin can also be used in decimal divisions, so that in the future, the value of Kin will never be limited by an inability to be used by the decimal. In order to tamp down the extremely volatile nature of many cryptocurrencies, a larger circulating and available supply is necessary. A balance was found at 10T where the supply is large enough to meet the needs of the millions of users, but was small enough to not interfere with the growth of value in the coin. The Kin Rewards Engine (KRE) is key to this balance. By injecting Kin liquidity into the ecosystem, it rewards those who enable and grow the system, but it also minimizes volatility and keeps value growth down to a sustainable, non-hyperbolic/non-exponential growth curve. In this, it both creates opportunity and eases fears of volatility, for users, developers and merchants alike. There are currently 756 billion Kin tokens in circulation; most of the remainder are held by the Kin Foundation for their own use, and for rewarding those who enable the ecosystem via the KRE. The KRE is schedule to begin operation in Q3 2018. As the value of Kin appreciates, the number of Kin injected via the KRE will change, though the total value will not. For this reason, the KRE stands to be in operation, injecting liquidity, rewarding innovation and ecosystem enhancement and controlling volatility for many, many years to come. In the end, 10 trillion coins will not be enough to satisfy the long term needs and desires of the masses. If 50 million people are using Kin, this works out to only 200,000 Kin available per user. Most early adoptecapitalists in the ecosystem hold many, many more than that. This eventual scarcity will drive the value of Kin up significantly; I won’t prognosticate how high. There is, however, no limiting factor. I am very bullish at this prospect… because of the last item, number 5. Metcalfe's Law shows the correlation between the usage of a telecommunications system, the size of it’s network, and its value. As the number of users grow, this law shows us that there is a direct correlation between the supply, the number of transactions per day, and the approximate value of that coin. This law follows closely the movement of Bitcoin, Ethereum and other cryptocurrency systems, and shows that Kin will benefit from mass adoption and millions of daily transactions from tens or hundreds of millions of users. Without a large supply, this would not be possible. The design of Kin requires 10 Trillion coins to be available to execute the plan. And the plan is to allow users, developers and investors to all reap the benefits of a vibrant and growing ecosystem. When there are hundreds of millions of users in the ecosystem, the value of Kin will be greater than most people can imagine. It’s an exciting time, to be sure! So we’ve looked at why the circulating supply is important, and why it’s different from other currencies. Let’s look at the center of why this works, the KRE. The Kin Rewards Engine: How it will disrupt Social Media monetization How often do you log onto YouTube, or Facebook, or any other Social Media site, and click on a video you’d like to see? Before the video starts, though, you are forced to watch an advertisement… maybe it’s something you want to know more about, but more often than not, it isn’t. What if someone was reading your chat messages and saw you were talking about buying new running shoes, and there’s the ad for that, placed right in your face. Currently, the harvesting of your personal and private conversations is real and ongoing… putting that aside (and that’s a wholly different problem that Kin solves), someone is making money by scraping your personal data off of private communications and browsing histories, creating ads that target your interests, and then forcing you to watch those advertisements. A bot is reading your data, intuiting your thoughts, and someone profiting off of you. George Orwell’s “1984” called this person “Big Brother.” The KRE puts an end to this exploitative monetization model. The advertiser compensates you directly for viewing that advertisement, or answering that ad, or for playing that game. You can then spend your Kin on spend opportunities like branded Gift Cards from hundreds of big named merchants like Amazon, McDonalds, and Best Buy, or the user can take their Kin to an exchange and sell it for the fiat currency of their choice, US Dollars, Euros, GBP or Yen. You can use your Kin to buy music, to view curated content, or to tip a content provider. Paywalls for online journalism will become a thing of the past. The KRE will reward the developer or person or company who placed the ad and contributed to the ecosystem. The user is allowed to contribute financially to content they value; instead of having their personal information sold to an advertiser. The user also can benefit financially for their own intellectual efforts and content creation. Businesses and developers will be able to easily move their Kin to exchanges to trade for fiat currency; this enables them to pay bills and salaries, and reinvest in other parts of their business. This also creates liquidity for exchange trading, which is an important part of the Kin Ecosystem. In this way, the KRE will rewards users, developers and investors who participate by adding value to the ecosystem. It will be an “open” ecosystem, allowing people to choose their use of Kin, whether it be purchases within apps, soft monetization via giftcards, or hard monetization via exchange trading for fiat currency. It may also become an option for game fans, hobby coders and enthusiasts to produce a living income via Kin. Why are there two types of Kin? Initially, Kin was designed to exist on a single blockchain infrastructure, the Ethereum Blockchain. Kin’s ICO was performed on the ETH Blockchain, and all Kin currently available to buy on exchanges are ERC20 tokens, built around Ethereum. Last year, Ethereum experienced significant delays in transaction times because of a game that had been built on the platform, called “CryptoKitties.” This game became very popular very quickly with Crypto fans, and in their exuberance, their usage crashed the Ethereum platform. The Kin Foundation realized that Ethereum, in its current form, was neither fast enough, nor robust enough to support the millions of users of Kin. Something had to be done. The Foundation decided to seek another blockchain for Kin. Something faster, stronger, and secure enough for the millions of users of Kin to have near instantaneous, secure transactions, no matter what. A couple of solutions were found: The Stellar Lumens blockchain (XLM) was chosen because of it’s transaction speed, utility and robust nature, and the Orbs blockchain, which can stand as a replacement if there is a problem with Stellar down the road. But what about exchanges? Kin on Ethereum can expect to be on many exchanges, and that access to liquidity that is essential to the success of the project. Kin on Lumens or on Orbs wouldn’t have widespread access to exchanges. This was a dilemma, The solution was to create the first ever two-blockchain cryptocurrency. All Kin bought and sold on exchanges is on the Ethereum blockchain. Kin to be used in the KRE, the Kik app and the Kinit app, and in the remainder of the Kin Ecosystem, will be based on the Stellar Lumens blockchain. The two types of Kin will be functionally identical in value, and freely interchangeable between the two blockchains. Basically, users will earn and spend Kin (XLM) in the Kin Ecosytem, due to Stellar’s robust design and fast transaction speed, but when they wish to move their Kin to an exchange, their Kin (XLM) will be exchanged for Kin (ETH) on a 1 for 1 basis prior to moving the Kin to the exchange of their choice for trading purposes. In this way, the needs of all Kin users will be met. And should Stellar be someday unable to meet the demands of mass adoption, the Orbs Blockchain, and others, are available for later development. In any event, this dichotomy of Kin will be mostly transparent to the user, and will not impact the value or the utility of the currency. The Kin Foundation has developed this dual-blockchain technology so that Kin can become the first mass-adopted, widely used cryptocurrency in the world. So, how much will Kin be worth? This is a big question. Many naysayers don’t believe Kin will appreciate significantly because of the large supply. This is based on their past experiences with Cryptos that don’t have utility and are simply speculative in nature. That’s not the case with Kin. To be completely honest, no one knows how much appreciation Kin will experience, or when it will reach a certain value. Here’s what we do know: Kin is positioned to be the first mass-adoption cryptocurrency in the world. Today, less than six million people worldwide own or use and cryptocurrency… this is an astonishingly low number. Kik, the messaging app behind Kin, has over 300 million registered users. Kin will be introduced first on the Kik app; Kik app users will have their first opportunities to earn and spend Kin before the end of 2018. So basically, once Kin is introduced on the Kik app later this year, the number of people using cryptocurrency worldwide will multiply many times. In one day. Kik will introduce crypto to tens of millions of users by the end of the year. As mentioned before, Metcalfe’s Law shows the relationship between a cryptocurrency value and the usage or transactions conducted by that coin, and the circulating supply. With current supply at 756 billion, and assuming transaction numbers in the 10 million per day range, Kin should be trading at around $0.01 per coin. Remember, however, that the KRE will be raising the circulating supply, and it may take some time to get to 10 million transactions per day. The value of Kin hinges on these numbers. In this, the beginning of the ecosystem, there is no foolproof way to estimate the value of Kin on any certain day. That said, there is no limit to the value of the coin, over time. None. Not circulating supply, or market capitalization, or anything else. No limit. In a decade, after the ecosystem has matured and is operating solidly, Kin could be worth…. Well, you fill in your own numbers. I have my opinions, and they are not limited by the number of coins, the market cap or anything else designed into the coin. For me, it all hinges on mass adoption and usage. Partnerships Kin has inked a number of partnerships that are exciting and will stand the ecosystem well into the future. Two recently announced partnerships are UNITY and BLACKHAWK NETWORK. UNITY Unity is the ultimate game development platform. It brings together developers and technical assets in ways that allow the creation of some of the world’s most popular digital games. There were 5 billion downloads of games made with Unity in Q3 2016 alone. Today, games that were made with Unity exist on 2.5 billion unique mobile devices. App and game developers will be able to insert Kin’s “5 minute SDK” (Software development kit) into the code of their app or game, and be monetizing their efforts with Kin in minutes. This “plug and play” approach makes the Kin Ecosystem and its rewards accessible to almost every developer, without the expense, time and research of developing a cryptocurrency. It truly is bringing cryptocurrency to the masses. Simply plug the “5 minute SDK” into your code, launch/update it, and within minutes, you’re creating revenue. Your users will also have earn/spend opportunities, and your game/app usage will grow dramatically. No more sharing your revenue with the Apple App Store, or with Google Play Store. This is a huge increase in revenue for developers. BLACKHAWK Blackhawk Networks is the leading gift card supplier. Simply put, if you’ve ever used a gift card, it most probably came from Blackhawk Networks; that’s how deep their market goes. Over 250 different branded gift cards will be available for developers to choose from for their users to select, based on their personal knowledge of the demographic. Is your app a traffic or mapping app? Perhaps your users would appreciate being able to earn Kin to buy a Dunkin Donuts cash card. Because, coffee. Is your app a fitness app? Perhaps a Nike gift card is more appropriate. Is it a game geared towards younger users? There’s always McDonalds. A dating app? How about a card for flower delivery? You can see that the options are endless. And don’t forget, the user AND the developer can choose to move their kin to other apps for other options, or to large cryptocurrency exchanges, where they can exchange their Kin for dollars, euros, etc. In this way, the ecosystem is enhanced, the cycle begins again, and the KRE continues to reward. Big Investors One of the things that first got me excited about Kin was learning that Kik and Kin were heavily invested in by Tencent, the Chinese behemoth company behind WeChat. I travel extensively to China for my day job, and it was an incredible realization to see that most Chinese don’t carry paper currency anymore. Hundreds of millions of Chinese use WeChat every day to purchase everyday things like food, movies, clothing and the like. WeChat connects to the user’s bank account, and instantaneously debits the accounts when the user makes a purchase. Many retail outlets and vending machines in China no longer accept credit cards, and fiat purchases are dwindling in number. Tencent’s interest in Kin is significant. Imagine Kik, using Kin, evolving into something similar… with hundreds of millions of people using Kin to conduct a significant amount of the economic transactions in their daily life! The adoption and utility numbers are mind boggling. Additionally, there are a number of heavy hitters in the Crypto space investment community. Union Square Ventures (USV) is an investment fund that has bet heavily on Kik, and thereby, on Kin. Other investments from USV include CoinBase, Koko, DuckDuckGo, CodeAcademy, DuoLingo, Wattpad, SoundCloud, Foresquare, Kickstarter, Meetup, Etsy, Disqus, Tumblr, Twitter and Zynga. As you can see, Kin is extremely well positioned, and the monetization opportunity Kin represents for these companies is being explored. Wrapping it all up in a big red bow… The TL;DR version is this: Kin is poised to become the most used cryptocurrency in existence in 2018. As the KRE comes online, Kin is introduced to the Kik Community, the discrete Kin app (Kinit App) is released, the 5-minute SDK is finalized, more partnerships come online, more and major exchanges offer Kin trading, and word spreads, expect the value of Kin to begin growing significantly. Kin currently sits near the bottom of the top 100 cryptocurrencies in terms of market capitalization, but the expectation is that Kin will rise towards the top of the top 100 in short order. As the value increases, so does market cap. Don’t make the mistake of thinking market capitalization limits the growth of Kin in any way; it will be the usage and mass adoption that will grow the value. As the crypto market recovers from the last few months, look for Kin to accelerate its growth as more partnerships and exchanges are announced. Once the KRE begins operations, the value of Kin will grow more quickly. I do not expect Kin ever be worth less than it is right now. The future for Kin is extremely bright. The Kin Foundation has much work left to do, but they are up to the task. Stay informed, and make sure your portfolio has Kin in it!
Cryptocurrency has changed my life for the positive, but I have one big issue with crypto which I believe is going to hold it back: you.
Hear me out. I'm not here to talk shit on cryptocurrency. It has given me a new purpose. It's been fun to invest; it's been fun to sit tight on this wild ride. I believe that it's going to take over the world one day, but you people make me fucking despise the culture, and I firmly believe that mass adoption can only happen and benefit us/the world if we could only let go of what makes crypto so unique: its users. When I was first getting into crypto, I purchased a (very) small amount of Ethereum which, after a little research, traded it for Steller Lumens. I was excited, I was proud, and I wanted to talk about it with my friends. Naturally, even though they were excited for me, they were still secretive and didn't really open up about some of the basics of what exactly I was doing. Crypto is complicated, and unless you get WAY too involved with how the actual technology works, you're sort of shooting in the dark. After purchasing a book and reading up about it, I have a much deeper understanding, but it is still a very complicated technology. The truth is, Cryptocurrencies and the ideas that they represent aren't accessible to the masses. WHY should grandpa joe put money into this technology? Cash is safer, and for some reason, when he asks a simple question like "what's a good currency to look into?” he gets hit with WAVES of 20-somethings who know fucking EVERYTHING there is to know about how investments and the economy works, reprimanding him for not DYORing, as if he knows what that means. When people look at Crypto from the outside, it just looks like we’re celebrating “stocks for millenials”, especially when we run our mouths about lambos, HODLing, FUD, mooning, shilling, and people don’t understand that these coins are backed by companies who are building a PRODUCT and a means of purchasing goods and services. Who would want to be a part of a new trend that just seems like a bunch of cringey children patting each other’s dicks because we know some stupid inside lingo? On top of all of these goofy inside jokes that investors have, we tend to form cliques based on what we hold. “WTF are you doing holding XVG? BITCONNEEEEEEEEEECT!” “OMG!😭Can't believe I won ! Thank you Walton team ! ❤️ keep doing the great work. 💪🏻💪🏻💪🏻🚀🚀🚀” Now it appears as if, instead of taking our own ideas seriously, we’re more focused on putting each other down for our mistakes. How is that supposed to make this groundbreaking technology seem accessible to outsiders? We look like children, honestly. I haven’t even mentioned how little we talk about how hard it is to ACTUALLY manipulate this technology, even though somehow private keys SEEM so easy to decode (which they aren’t). People don’t want to be afraid of cyber-attacks. They hear about 51% attacks and Ponzi schemes, as well as simply losing private keys and not being able to access their own money. People don’t want to see the Suicide Prevention Hotline appear every time things drop. Are these crypto assholes killing themselves because they’re bad with money? This fear comes from a lack of understanding. ALL OF THIS CAN BE QUELLED BY EDUCATION AND CREATING A NEW, ACCEPTING CULTURE. Education, friendliness, enjoyment, excitement. Don’t exclude people because they don’t already know. We need to make the idea of crypto SIMPLE for people and give them the same excitement that crypto gave to us when we first started. We need to explain that THIS IS NOT A GET RICH QUICK SCHEME. I think we need to remind ourselves that this is not a get rich quick scheme honestly. We can do this, but we have to change our attitudes and stop being so damn secretive, treating this gift of a technology as adults SHOULD treat this technology. TL;DR you’re all cringey assholes to each other and its scaring mass adoption away. Be nicer, be patient and educate newcomers. Crypto is not a get-rich-quick scheme, so stop treating it like it is.
Fidelity CEO’s Comments Regarding Bitcoin. From Barron’s Newspaper, October 6 2018
“Fidelity spends $2.5 billion a year on technology, with a workforce of “10,000 technologists around the globe.” The results aren’t apparent in whiz-bang features like virtual-reality tools or computer-generated financial advisors—yet. But it drives down operating costs and pays off in the background. Many registered investment advisors choose to custody assets with Fidelity because its platform works so well, says Lowell. Fidelity isn’t a tech disrupter, he adds, but “among the major financial houses, it’s one of the most tech-oriented and progressive.” Fidelity develops much of its own financial tools, apps, and trading technology in its incubator, Fidelity Labs. On a recent visit to the Labs, the firm showed off augmented-reality goggles that it’s developing for 3-D charting. A team was working on a Bitcoin service (tightly under wraps) that Johnson says she “hopes to have commercially available by the end of the year.” If Fidelity does launch a digital-coin exchange, it would, as is often the case, not be the first. In February, Robinhood started offering commission-free trading in Bitcoin and other cryptocurrencies, now allowed in the 17 states. An exchange called ErisX, backed by TD Ameritrade Holding (AMTD) and Virtu Financial (VIRT), recently announced plans to trade digital currencies and related derivatives. ETFs may be coming soon: The Securities and Exchange Commission is weighing whether to approve nine Bitcoin-related ETFs over the next few months. Fidelity investors can see Coinbase balances on Fidelity.com and donate digital currency to the Fidelity Charitable Donor-Advised Fund. And the firm is experimenting internally. Some company cafeterias accept Bitcoin as payment, and a Bit & Blocks club (2,600 members connected with Fidelity’s blockchain incubator) sponsors an annual Crypto-Asset Portfolio Challenge for employees (using hypothetical currencies). One thing Fidelity learned? Hardly anyone uses Bitcoin to buy lunch because the currency could appreciate so fast that a pizza could end up costing the equivalent of $50 by the time you’ve finished eating. The firm also found out how easy it is for computerized cryptocurrency traders to beat people: Indian programmers developed trading bots for the in-house contest, prompting Fidelity to put constraints on the strategy. Bitcoin, says Abby, is an “extracurricular activity for me.” But she’s well versed in the lingo. “You start hashing the blocks and hope to hit one first, which is when you mine your coins,” she says, describing the mining operation. Fidelity dipped into mining Bitcoin, through a small venture launched in 2015. “This was Fidelity writing a check to buy a bunch of computer equipment,” says Johnson. “We expected to lose money on it. But we were making ridiculous amounts of money at the peak.” Fidelity is exploring more “use cases” for Bitcoin, she adds, while waiting for federal regulators to issue more trading, tax, and anti-money-laundering rules.”
A discussion of market values for cryptocurrencies.
I just wanted to insert a more theoretical discussion of the concept of market capitalization since it does seem to come up a lot in the context of cryptocurrencies and digital assets. TL;DR: Market cap is actually a meaningful and relevant metric for cryptocurrencies, however that does not necessarily place hard limits on price appreciation. The following is my opinion. I understand that many will probably disagree, but from my observation, most people getting involved with cryptocurrency have very little experience and training with finance and investing, much less low-level trading and investment analytics. I hope you will find this helpful. Many comments I have seen lately contain statements like "market cap is meaningless for cryptos", which is not actually true. For some perspective, let's talk about market capitalization (more properly, it is market value in our context), how it's calculated, and what it's useful for. Market value (MV) for an asset is just a Price x Quantity representation of value. Quantity is relatively fixed, so MV is largely a measure that fluctuates with the market price of an asset. Indeed, for stocks, the price and MV contain almost exactly the same information. Price changes and MV changes are even more tightly linked. For stocks, MV can be viewed as a measure of the value of the equity in the company or a representation of the cost one would incur if they wished to buy control of the company. For a debt instrument, MV would represent the cost the company would incur to retire the debt. For currencies, there is no company to acquire or debt to retire, so many may feel that MV is irrelevant as a metric for currency value limitations, and that since the MV is set by the last transaction price, it's a meaningless number. Obviously, if one dumped all the outstanding currency into a market sell order, it would force the price down. Or if one issued a massive market buy order, the price would go up. Thus, MV can't possibly represent the value of the entire currency correctly. However, while those types of trades would certainly impact the current price, that sort of trade is irrational unless one had the belief that the current prevailing price is wrong. The fact is, the current market price is where the actual trading is happening. Anyone who feels the price is too low isn't selling, and anyone who thinks it's too high isn't buying. Thus, the market is in equilibrium (if only instantaneously): this is the implied current value of the asset based on the interests and ability of the market. Some may think the value too low, some too high, but if they are unwilling or unable to make a transaction, their opinion is irrelevant since they are not currently acting to inform the market of their opinion. The market doesn’t care what you say; it cares about what you do. In economic lingo, this is revealed preference, and what matters is the marginal trade. So, the last trade price is the correct price to calculate the current asset value. If we were talking about actual currencies in use (dollars, euro, yen), then perhaps we could estimate a different metric based on transaction volume and exchange value, but no crypto is currently widely used to purchase consumption goods or services, so they are best treated as commodities and market value remains quite relevant. This may change in the future, but as long as the dominant majority of people are only holding crpytocurrencies for speculation rather than consumption use, they are best considered as an asset rather than a currency. In the context of “Can XRP reach $$$?” style questions, market value is relevant. It will take a volume of trading at higher prices to push the price up. They are not separate issues. It is true that market value carries less meaning when based on a single trade, however if values climb and volume is high, then MV carries quite a bit of information. $100 for XRP does imply a LOT of trading activity and value flow into the currency. Whether or not there is a hard cap or limit on XRP’s value depends on the realistic amount of value that people can or will assign to it. Many people are making arguments that the price of XRP cannot reach a certain point because that would imply a MV that is impossible. The responses tend to be "MV is irrelevant". That is not true. If they are wrong, it is not because MV is irrelevant, it is because you do not think that MV is impossible. There is no way for the price to go up unless the MV goes up and value transfer happens. If the price goes up without corresponding volume to support it, then what you're seeing is a market failure, not a breakdown of the concept of MV.
I want to buy some Ripple, some NEO maybe, and other ALTCOINS. but i looked at coinbase, and they only carry 3 cc's. kraken is hella not liquid in FIAT (i think thats the lingo). bittrex is closed for sign ups. and other platforms i have looked at seem to be dealing in crypto crypto trading, wich i do not understand anything about. i am a complete noob. all in all, im looking for a place where i can deposit and withdraw my money, in small amounts, like 50 euros investments, and also where i can buy ALT's like RIpple.
Margin trading is what happens when a trader risks his/her coins by investing in the crypto market to magnify their value. CINDX trusts its Traders’ enthusiasm – try margin trading today at https://CINDX.io/. CINDX Crypto Lingo
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Well, so far I would have to say it has been an amazing journey. I have learned a lot of different lingo such as "to the moon", "headed down the rabbit hole" and "FUD". I have learned not to mention the wrong Altcoin in a chatroom on Reddit, as one Reddit user stated I was "pumping a coin in the wrong subreddit" then proceeded to call me a "shit coiner." I have learned there are purists who feel like the new people to this space don't understand, and that noobs are going to ruin what crypto was. Kind of like my father telling me how good it was "back in the day." I have learned that Andreas M. Antonopoulos is one of my new heroes. His quote, "Bitcoin is not smooth jazz. Bitcoin is punk rock fucking deal with it." That is my new favorite quote ever. I have learned that the community around trading cryptocurrencies is more welcoming than many of the users on Reddit, and how much I have grown to respect the Reddit users who are kind, understanding, and willing to teach. The response "that is what Google is for" to me is unacceptable in a space like this. People go to Google for many reasons. People come to places like Reddit and Slack to build relationships, community, and strong bonds. To me, there are no stupid questions. As I have learned I didn't know a darn thing and it took a lot of really good and patient people to teach me. Yes, they would laugh a little, then kindly take the time to type out and explain what I should know. I have learned that reading White Papers is my new favorite past time, and I want to spend more time learning about what should be and shouldn't be in a White Paper. I have learned that scams are everywhere, and many coins are not worth the time to read the White Paper. So to all my fellow crypto-lovers beware! I have learned that I love what Crypto stands for and I will be an avid lover of Crypto for the foreseeable future. I am very excited to see what it can offer the world. I have found that I want to write about Cryptocurrencies and my thoughts on certain coins, lingo, funny stories, history of Crypto, and hopefully be part of its history. Here is to the future and "going to the moon!"
No, I Won’t Help You Whitewash Your Token Sale Scam (A Piece I Wrote in Light of Recent Events)
I’m a lawyer. Among other things, I advise on ICOs and crowdsales. Over lunch the in-house counsel of a tech company asked me whether I ever decline work. We were making small talk, but funny she should ask. Because I have indeed chosen not to work on a few initial coin offerings and token sales lately. I do what I do for a living, so I’m not prone to decline work by default. But these projects didn’t smell right. The Somewhat Dubious Enquiry Here’s an example. Someone asked for a quote for my legal advice on this projected token sale. Simplified, its structure was to be as follows. The Investment… The public may invest their money in tokens. The money will be used to fund something striking. Insert description of marvellous stuff here. I don’t know, think of something shiny, the entertainment industry perhaps. Yes, think of the crowdfunding of films. Tokens as your chance to play a part in upcoming, financially attractive mainstream productions. A whitepaper sets out how this will happen. It isn’t very detailed but it presents the prospect of good things. There will be a whole spectrum of perks ranging from not yet specified (but maybe in future, or so it said) to direct communication, even meeting with the people appearing in the movie you’ve helped fund. Suffice it to say this will be an opportunity for those who buy more tokens. The more you buy, the closer you will come to the stars. You heard right. The word invest is all over the place up to a certain point in the whitepaper. At this point it declares, for the avoidance of doubt, that token shall give the buyer no right whatsoever. You heard right again. …Which Isn’t In particular, the tokens purchased shall not bestow equity rights in anything. Think dividends. Yes, the tokens are to give their buyers the opportunity to participate in and influence the development of entertainment products, for example by casting votes or by communicating with those involved in making or appearing in them. However, as it states again towards the end of the whitepaper, the opinions and reviews of the token buyers will be ‘taken into account’. This shall not mean buyers will have a real right to take part in the decision-making. In other words, one is to part with one’s money in return for – not very much really. What a classic. But keeping up with the times, this scheme says things like token and blockchain and crypto, and it comes with a whitepaper. Could I advise whether they need a licence for this? Because preferably not (the word offshore was uttered in this context). If a licence were necessary, could I help apply for it? Oh, I could. But I don’t want to. The Legitimate Token Sale So that’s a token sale I wasn’t comfortable with. To balance, here’s an example of what a legitimate one could look like. Simplified, it’s an investment scheme run on a blockchain. Let’s also take a look at how a lawyer might be able to help realise this token sale. The Business Accelerator There is to be a Singapore company, let’s call it The Accelerator Pte. Ltd. (the ‘Accelerator’). The Accelerator’s only purpose is to own shares of promising technology start-up companies. Not too much, not too little, say up to 10 per cent per start-up. A lawyer can take care of the corporate legal issues of the Accelerator including its foundation and operations. The Agreements Between the Accelerator and the Start-Ups Further, there will have to be agreements between the Accelerator and each start-up company covering the terms of the Accelerator’s share ownership and perhaps influence in the business of each start-up company. A lawyer can advise on what should go into these agreements and help negotiate and draft them. Once these agreements are in place, a lawyer can help check whether the parties observe them. If a legal dispute arises, a lawyer can help resolve it, in or out of court as the case may be. The Investment Vehicle There is to be another Singapore company, let’s call it The Investment Vehicle Pte. Ltd. (the ‘Investment Vehicle’). The Investment Vehicle is to hold 33 per cent of the shares of the Accelerator. These shares come with certain dividend rights (the ‘Accelerator Dividend Rights’). As with the Accelerator, a lawyer can take care of the corporate legal issues of the Investment Vehicle including its foundation and operations. The founders of this whole thing are to hold the remaining shares of the Accelerator. They will also be the directors of the Accelerator. Put otherwise, these people are to be the majority shareholders and managers of the Accelerator. Their majority shares will come with certain rights as well (the ‘Accelerator Majority Rights’). The Accelerator Majority Rights will include the Accelerator Dividend Rights, and then some. The Agreement Among the Accelerator Shareholders and the Accelerator As the Accelerator is to have two fractions of shareholders – the Investment Vehicle on the one hand (33 percent) and the individual founders on the other hand (67 per cent) – there is to be an agreement between these two fractions covering the terms of the Investment Vehicle’s share ownership and influence in the business of the Accelerator, and of the Accelerator Dividend Rights and Accelerator Majority Rights. The Accelerator itself should be a party of this agreement. As before, a lawyer can advise on what should go into this agreement and help draft it. Once it’s in place, a lawyer can help check whether the parties observe it and help resolving any legal dispute. What About Tokens, Blockchain and All That? The Investment Vehicle is to offer and sell Accelerator Dividend Rights to interested parties. The Accelerator Dividend Rights are represented by virtual tokens, so the lingo will be that these tokens are offered and sold to interested parties. The authoritative register for these tokens will be a blockchain. The Agreement Between the Investment Vehicle and the Interested Public There will have to be agreements between the Investment Vehicle and each interested party covering the terms of the initial purchase of tokens (including repurchase, as the case may be, and onward sale). There are different ways of doing the initial purchase of tokens. If you want to raise hard currency (but not cryptocurrency), for example as the Investment Vehicle’s capital contribution to the Accelerator, then this will probably require a brick-and-mortar contract between the Investment Vehicle and each first token buyer. If you want to allow cryptocurrency as payment, the purchase of tokens could be based on a brick-and-mortar contract between the Investment Vehicle and the buyer. Or you could make it by way of smart contract. As before, a lawyer can advise on what should go into such an agreement and help draft it. Once it’s in place, a lawyer can help check whether the parties observe it. Now, this monitoring part may sound less relevant when a self-executing smart contract is in place. The challenge begins, however, should a smart contract give rise to a legal dispute. A lawyer can advise on that as much as he can on a dispute over a brick-and-mortar contract. Token Trade As each token will form a block in a blockchain, it will be possible to sell one, even trade the tokens like cryptocurrency (and for cryptocurrency as consideration). Once the blockchain of tokens is up and running, it might be possible to put the desired terms of their onward sale and other aspects in a smart contract included in each token block. A lawyer can… – you know what a lawyer can do. Beware of the Regulator At the outset, though, one must observe regulatory aspects. An offer of tokens (scil. the offer of interest rights in company shares) will only come without specific filing and registration requirements (prospectuses and such) if it doesn’t constitute an offer of securities, debentures, rights in a collective investment scheme or business trust (or others if specified). Or, if an offer of tokens does constitute any of that, specific filing and registration will only be dispensable if the offer is excluded or exempted. This regulatory aspect applies as much to Singapore as to most if not all relevant jurisdictions. But I Will Do That The thing is, this isn’t just what your lawyer could do. He would also do it gladly. Because this is legitimate token sale, blockchain and smart contract stuff. (First published this on https://www.patorikku.net/token-sales/).
Essentially getting started. Know crypto is too new to have in depth books on the subject. Rather, looking for adjacent books on economics/stock markets that can help me learn market theories, lingo/vocab, trading analysis and fundamentals. Anything you could really recommend would be great. Cheers
I have noticed a lot of the same questions being asked on the discord chat. Please JakeTheCryptoKing, feel free to use this as you see fit. Q: What is a satoshi? Why do we use this terminology? A: The satoshi (sometime abbreviated to sat) is currently the smallest unit of the bitcoin currency recorded on the block chain. It is a one hundred millionth of a single bitcoin. 1 Satoshi = 0.00000001 BTC 10 Satoshi = 0.0000001 BTC 100 Satoshi = 0.000001 BTC 1,000 Satoshi = 0.00001 BTC 10,000 Satoshi = 0.0001 BTC 100,000 Satoshi = 0.001 BTC 1,000,000 Satoshi = 0.01 BTC 10,000,000 Satoshi = 0.1 BTC 100,000,000 Satoshi = 1 BTC When trading, it is helpful to have a reference point. If you have losses or gains measured against BTC, it is easier to calculate your true movement up or down. "You want to improve your total holdings against BTC, not necessarily total $$. The price of 1 BTC will fluctuate, do not focus on that, focus on improving your total BTC holdings." - JakeTheCryptoKing. Q: When should I buy ___? When should I sell ____? Also: Should I sell X to buy moonshot Y? A: Buy the dips. Sell the highs. "I've made it very clear, weak hands fold. (It) is for each individual trader (to decide). I hold until I'm green, but if you feel there is a better opportunity rotate the $$ around!" - JTCK. You will never consistantly pick the all-time-highs or lows. Not even regularly. "You eat the body, but leave the tail and the head" – Daniel Jeffries (https://hackernoon.com/the-cryptocurrency-trading-bible-two-the-seven-deadly-sins-of-technical-analysis-cacd04f916b3). Q: What does ________ (insert acronym/jargon here) mean? A:
HODL. A misspelling of ‘hold’ that stuck around to mean ‘keep’. A crypto trader who buys a coin and does not see himself selling in the foreseeable future is called a hodler of the coin.
FOMO. Short form for ‘fear of missing out’. The feeling when you see a huge green dildo on a chart and you don’t own that coin, so you sell other shit to buy into it freaking out. As crypto trading is still very much driven by emotions rather than valuation, FOMO is a huge factor to consider when swing trading in crypto.
FUD. Short form for ‘fear, uncertainty and doubt’. Usually used in the form of “xxx spreading FUD again.”
4.ATH. Short form for “All-Time High”. Therefore it means the highest historical price of a specific coin. The opposite is ATL "All-Time-Low'.
Whale. A huge player who has a substantial amount of capital. Whales are often the market movers for small alt-coins too due to their huge capital.
Pump and Dump. The recurring cycle of an Altcoin getting a spike in price followed by a huge crash. Such movements are often attributed to low volume, hence the ‘pump’. Traders who pump, buying huge volumes, may wish to invoke FOMO from the uninformed investors and then dump, or sell, their coins at a higher price.
Shill. The act of unsolicited endorsing of the coin in public. Traders who bought a coin has an interest in shilling the coin, in hopes of igniting the public’s interest in that particular coin.
Bag Holder. A term to refer to a trader who bought in at a high and missed his opportunity to sell, leaving him with worthless coins.
Margin Trading. A term for ‘trading with leverage’. In this instance of trading, you borrow one side of the trading pair at an agreed loan rate and sell it for the other side of the trading pair. Depending on the direction you believe the market to move, you may place a long or a short bet on the trading pair of concern.
Long. A position that a trader takes. To take a long position on something is to believe its value will rise in the future.
Short. A position that a trader takes. To take a short position on a coin is to believe its value will fall in the future.
Limit Order. An order placed at a future price that will execute when the price target is hit.
Borrowing Rate. When you open a leveraged position, you will be borrowing coins at a pre-determined rate. This rate will be added to reflect your position’s overall profit and loss.
Lending Rate. Some exchanges have lending accounts. You may deposit your coins into these lending accounts to lend your coins for others to execute their leveraged trades. The lending rate fluctuates throughout the day based on the demand for shorting the coin.
Fill or Kill. A limit order that will not execute unless an opposite order exceeds this limit order’s amount.
BUY / SELL Wall. A wall as seen in the depth chart of exchanges is an amalgamation of limit orders of the same price target
Altcoin “Alternate coin” so it is everything other than Bitcoin (BTC). Bitcoin is the main index for cryptocurrency market. If BTC goes up, other coins go up. If BTC goes down, other coins go down.
Circulating Supply. The price of a coin has no meaning on its own. However, the price of a coin, when multiplied by the circulating supply, gives the coin’s market cap.
Market Cap. A stock’s market cap refers to the market value of the company’s outstanding shares. In the cryptocurrency market, the market cap is used to illustrate a coin’s dominance in the entire cryptocurrency market.
DDOS. Short form for ‘Distributed Denial of Service’. A well-timed DDoS attack at exchanges during volatile movements may be devastating as traders will not be able to execute any order manually and will be at the mercy of their pre-set, or the lack of, limit orders.
ICO. Short form for “Initial Coin Offering”, which takes a page from the usual IPOs investors know. Coins bought during ICOs are usually sold for a profit when the coin first hits exchanges. This is due to the initial hype which increases demand for the coin. On the supply side, ICOs create entry barriers as the buyer has to set up his private wallet to receive the coins from the ICO purchase.
Arbitrage. The act of buying and selling on different exchanges to earn the difference in the spread. Arbitrage opportunities occur due to differences in exchange reputation, community coin preferences and ease of bank funding. Take note that fees, limits and prices could change anytime when you are transferring your coins between exchanges, especially during volatile times.
BTFD “Buy The Fucking Dip” – When people are running around and selling because of fear, this is the time to buy.
Moon Extreme bullish (upward) movement of a coin.
Weak Hands Those who cannot be patient and sell at loss when the market is down.
DYOR Do your own reseach.
Taken from: www.smallcapasia.com/what-is-fud-hodl-or-fomo-in-cryptocurrency-lingo-find-out-more-here/ by James Yeo. Q: Why should I use BTC pairs rather than ETH pairs to buy altcoins? A: General rule is the buy/sell book will be more active with BTC. You may get more altcoin with BTC compared to ETH, and certainly quicker. When you become more experienced, you may find your own methods of evaluating the best trading pair for individual trades. Q: Should I sell my coin I accidently bought with ETH (or other)? A: No. The coin you bought doesn't know how you bought it. What is done is done. Q: What exchange should I be using? A: Many traders use several. Two examples: GDAX and Kucoin. For exchange to exchange transfers, GDAX has lower fees. For newer coins, Kucoin lists some coins not available elsewhere. Q: Should I buy a recommended pick immediately? A: Buy the dips (low point of a coins price). It is prudent to do your own research. Buy when you feel comfortable. Beware!, the more people that hear a tip, the higher the price may immediately spike.
Introducing cryptos first legitimate quantitative model showing what REALLY drives crypto returns....with 100% transparent results.
Here is a primer on my crypto quant model. I develop stock quant models (not TA, legitimate quant) for asset managers and we FINALLY have enough data to do something with crypto. Check it out! Scroll down for performance and the factors that drive crypto returns Have you ever wondered what characteristics of cryptocurrencies actually drive their relative returns? I am releasing a crypto quantitative model that you can follow nearly everyday @CryptoQF . The stocks with the highest alpha signals are most favorable, and the ones with the lowest are the least. Are you ready for some details? The key result is I find coin selection is critically important in crypto as the dispersion between the best and worst coins are massive. Literally the differences between rags and riches. Many of you may think you know what drives crypto returns, or perhaps what you think should produce returns. However, I wanted to determine the characteristics (or factors) that I am statistically confident in that produce outperformance. I wanted something that has gone through rigorous statistical testing using millions of data points. Not just based on theory or intuition...but real live cold data. This is an endeavor that has been ongoing with stocks for decades. Numerous quantitative models have been developed to help predict stock returns. In fact I've had my hand in developing a few professionally. Generally those stock models say these types of stocks should outperform: value oriented, lower risk, momentum, and high quality, etc. In fact I find that some of these factors also exist in cryptos, which is fairly groundbreaking. In fact the key contribution of this research is the relevation that momentum, value (as defined), and low risk factors produce outperformance in crypto. Value and Momentum is truly everywhere Mr. Asness.https://eorder.sheridan.com/3_0/app/orders/4482/article.php#929 Here is an easy primer on stock factors that drive relative returns. https://www.msci.com/documents/1296102/1336482/Foundations_of_Factor_Investing.pdf/004e02ad-6f98-4730-90e0-ea14515ff3dc Over the last few months I've been developing this coin selection model. I've released a few smaller iterations, but now it is fully functional. I've taken exactly what is done with stock selection quant models and applied it to cryptocurrency. The results even surprised myself. Crypto has been dominated by Technical Analysis (TA) and Fundamental Analysis (FA). However, in the world of investing Quantitative Analysis (QA) is bigger than TA and on par with FA. However, with crypto QA has largely been impossible due to the lack of data. Either the data feeds were incomplete or the timeline was too short. So what is Quantitative Analysis? In short it is taking many of the factors you may look at in TA or FA and .... quantify them! For example in TA you may like trends or breakouts. A quant takes it the next step. For example if you like to use a moving average, a quant would test that moving average across all coins, across all times, and determine how much that moving average actually contributed to the return. Cool huh? What is a Factor Model? There are multiple types of factor models, but the type I am using here is called a fundamental model (don't confuse that with fundamental analysis). What that means is that I identify the characteristics that I believe may drive performance and then I begin to test them. One benefit of this approach is I know exactly what the characteristics are and I can always test more. At this point in time I am using 16 unique different factors. So lets give an example on how the model is built. Lets go back in time 05/10/2016. The first thing I do is acquire all the data that I can for that particular day and every day before that, for every coin in existence on that day. I limit the coins to relatively liquid (.01% volume to BTC) and ones that have been around for at least 4 months. Then I have to construct my factors. One factor I am using is 30 day standard deviation which is basically how risky has the coin been over the last 30 days. So I calculate the 30 day standard deviation for all coins (which requires 30 days of price history). Naturally all the coins are going to have different standard deviations. Some will be riskier than others. However, I cannot leave them in their raw units. I need to clean the data for outliers and quirky numbers, and ultimately z-score them (or standardize them). I rinse and repeat for all my factors on that particular day. In order to determine which factors 'predict' returns the next step is to run a regression of all the characteristics (factors) versus the next days return (5/11/2018, note: I did one day and one week regressions). In stocks a daily regression wouldn't tell you much, but given the outsized volatility of crypto there was a ton of information in the short horizons. The result of the regression on a particular day would tell you how much a particular factor (or characteristic) explained the next days performance (or a 'payoff'). Rinse and repeat for every day that I had data for (back to 2014). So do the math, at this point I have conducted well over a 1000 regressions. For each regression I can see how all the factors, including the 30 day standard deviation, explained the relative returns. So take 30 day standard deviation, I can analyze the 1000+ daily 'payoffs' to that factor, to see if 30 day standard deviation on average produced a return statistically different than 0 (positive or negative). To do this you essentially are testing the average payoff to see if it is statistically different than zero. Basically for the factor to be considered significant it needs the average payoff to be high enough to compensate for the volatility of the payoff. In statistics lingo it means that the t-statistic needs to high enough before we can be confident that the factor adds value. So what are some factors that drive returns? I'm going to group them for ease of explanation.
Positive Momentum. Coins that have outperformed over the last 1 week and 2 weeks (subtracting out the last couple days). Why do I subtract out recent returns?
Reversals. Coins that have outperformed over the last few days, namely the last day, generally will underperform.
Breakouts. Coins that are showing positive momentum combined with an above average volatility change has even stronger performance.
Low risk coins. I look at this a few different ways. I mentioned 30 day standard deviation, but I also look at other horizons as well. In addition volatility changes are important as well. In all cases, coins that are lower risk generally outperform.
"Value". I define this very loosely here because there is not a good way to quantitatively value coins in bulk. In this case my measure of value is current drawdown from prior peak over a given horizon. Basically, which coins have lost the most. This proves to be an extremely strong factor. The larger the drawdown, the greater the future returns.
Testing Results While it was great to get good results using the full data set, that alone did not give me confidence to begin to trade on the data. I needed to test it out of sample. Basically imagine going in a time machine and running the model exactly the way you would have on that given day. Going forward I will be posting my alpha signals (and rankings) on a near daily basis. For the backtest results I reconstructed all those rankings going back in time. I constructed multiple portfolio to test, but there are three that are of key importance.
The entire coin set that meets the liquidity (.01% of btc volume) and history (4 months) requirements. This is a proxy for the liquid crypto market cap. This is equal weighted.
The top 10% highest alpha coins, equal weighted.
The bottom 10% lowest alpha coins, equal weighted.
The full period returns are literally astronomical.
If you invested in the bottom 10% you would have literally lost it all. Coin selection is critically important in crypto
The model did a great job separating the best from the worst.
All three models (combined, daily, weekly) beat the benchmarks over multiple periods and different market environments (bull of 2017, bear of 2018). It is not a one trick pony
How to invest with this? What is the goal? The model is designed to beat the two benchmarks I stated. But what does that mean in layman's terms? This is a long only portfolio (although Tether is considered a coin). If you wish to have a mechanism to get in and out of the market then that is not this model. I'll be publishing a model that does just that shortly. This model is solely designed to pick the best coins versus the average coin (and the worst coins). In fact you didn't even have to go short in 2018, if you followed the model perfectly you would have had a positive return in 2018! But for the downside...it will be difficult to follow the model perfectly. There will be some timing gaps, bid/ask spread issues, and potentially liquidity issues to deal with. Plus 10% of 200 coins is 20 coins daily. That is not feasible. Luckily you don't have to buy the entire top 10% to get similar returns. I am personally going to be buying 3-5 top 10% (to top 25%) coins daily. I probably won't sell them until they drop out of the top 25%. And the beauty is that you can utilize TA and FA while picking and choose which of the top 10% (or top 25%) to invest. So in practice many people may get better entries than the model while also taking advantage of FA. Please follow me on twitter for the daily model releases (usually 3 hours past UTC time, but I may not do it everyday). @CryptoQF For those that made it down this far.... here is the current model (8/13/2018) https://docs.google.com/spreadsheets/d/1yfLlyzGYThDxgpvonD7exVAyYtEwFBAUUZo2jAE41-k/edit#gid=0
CryptoTrading Lingo Readers often ask us about the range of cryptocurrency trading lingo and acronyms used in the space and whilst we try to use these as minimally as possible we thought you might find this crypto trading acronym guide by @coinGuyBri , useful to help you decode crypto messages you read around the web acting as a guide or ... Check out the Latest Cryptocurrency Trading Fundamentals, Guides and Tutorials updated weekly. We cater to both beginner and advanced traders alike. While you're here, check out our Crypto Tools, Crypto Coin News & Updates, Latest Altcoin Releases, Crypto Games, Bitcoin News, Trading Bots, and so much more. With crypto taking South Africa by storm with a reported thousands of South Africans signing up for cryptocurrency over the past few months, Luno, one of SA’s largest cryptocyrrency exchanges has provided a guide to basic crypto lingo. Luno unpacks all the important crypto terms With over a ... 40. Crypto Exchange: A website that helps one buy/sell cryptocurrencies. Here is a list of top exchanges. 41. Limit Order (Limit Buy/Limit Sell): Buy/Sell o rders placed by traders to buy or sell a crypto-currency when the price meets their target amount. 42. HODL: It is a meme term which is basically means hold or Hold on for dear life. It ... Cryptocurrency Lingo Cheat Sheet: Crypto Terms You Need to Know. ... The process of examining trading charts in order to predict which way the market or particular cryptocurrency will move next.
My Adventures in Automated Crypto Trading - YouTube
Today we talk about some common lingo you might encounter in the Crypto Community! Follow Me on Twitter: https://twitter.com/SkyTalksBusines Best Crypto Trading Course: This is a quick guide to show how easy it is to start crypto copy trading using the free Wunderbit Trading platform. It can all be done in three simple steps: 1st you have to select your role if ... Therefore, we thought it would be useful to mashup 20 crypto related terminologies you may come across in 2:20min. To read a more in depth explanation of those terminologies, Check out Part 1 & 2 BREAKING! JAPAN & USA COLLABORATION to BEAT China's E-Yuan! Ethereum to 10k minimum + SEC Securities - Duration: 29:09. Digital Asset News 43,111 views Adding vs. Taking Liquidity - Trading Lingo ... Crypto Crew University 19,266 views. New; 32:22. 30 Minute Boxing Heavy Bag HIIT Workout - Duration: 32:02. NateBowerFitness Recommended for you.