How to trade Forex with $100 - 2020 guide - PAXFOREX

Reality check for newbie roadmap with algo trading

Hey guys,
I'm planning to start trading on forex in the next few months. Right now I'm doing babypips :) I've got some ideas/long term plans on how I want my trading journey to look like and I'd really appreciate reality check if it's plausible to achieve.
First some background. I'm a software dev and I'm doing really ok for myself, I've been able to put aside some money that if lost or spent it won't affect anything, retirement, personal savings, vacations, travel and all other budgets are all separate from it.
Roadmap:
  1. Finish babypips
  2. Open demo account and trade for around 6-12 months to get a hang of it - the goal is to create a trading strategy
  3. Open a live account and try to not blow it for the next 12 months - the goal is to break even, tweak and adjust the strategy
  4. Be profitable after 24 months on the market - the goal is to achieve 1%-6% monthly returns
  5. Create algo system as a helper - this is the final chapter, reflect my strategy the best I can in automatic system. What'd be left is to tweak and configure it on a weekly basis into the future.
This is my dream scenario, long term plan and direction to follow. I'm making no assumptions on anything, I know it might take 3 or 4 times longer or not work at all. Right now I don't know what I don't know and wanted to clash my imaginations with reality how this journey might look like before I start committing countless hours to this. I want to give myself enough time to be successful with this plan, even if it'll take a decade or more.
Some explanation on the algo. I'm not looking for silver bullet that'll crack the market and make me rich. I'm wishing to build a system that will be an extension (like another limb) to my body and mind to anything that can be automated in trading, something that constantly has to be improved and adjusted with the changing market. I just want it to reflect a strategy that I'd already apply manually.
The end goal (many years into the future) is to acquire enough account size to be able to quit my day job and live comfortably from mostly automated trading.

What are your thoughts on this roadmap? Is this a reasonable plan to follow? Is it possible to achieve something like a constant 2%-5% monthly returns with algo trading and putting max 8 hours in a week for maintenance and tweaking?
submitted by PancakeFrenzy to Forex [link] [comments]

Reality check for newbie roadmap with algo trading

Hey guys,
I'm planning to start trading on forex in the next few months. Right now I'm doing babypips :) I've got some ideas/long term plans on how I want my trading journey to look like and I'd really appreciate reality check if it's plausible to achieve.
First some background. I'm a software dev and I'm doing really ok for myself, I've been able to put aside some money that if lost or spent it won't affect anything, retirement, personal savings, vacations, travel and all other budgets are all separate from it.
Roadmap:
  1. Finish babypips
  2. Open demo account and trade for around 6-12 months to get a hang of it - the goal is to create a trading strategy
  3. Open a live account and try to not blow it for the next 12 months - the goal is to break even, tweak and adjust the strategy
  4. Be profitable after 24 months on the market - the goal is to achieve 1%-6% monthly returns
  5. Create algo system as a helper - this is the final chapter, reflect my strategy the best I can in an automatic system. What'd be left is to tweak and configure it on a weekly basis into the future.
This is my dream scenario, long term plan and direction to follow. I'm making no assumptions on anything, I know it might take 3 or 4 times longer or not work at all. Right now I don't know what I don't know and wanted to clash my imaginations with reality how this journey might look like before I start committing countless hours to this. I want to give myself enough time to be successful with this plan, even if it'll take a decade or more.
Some explanation on the algo. I'm not looking for a silver bullet that'll crack the market and make me rich. I'm wishing to build a system that will be an extension (like another limb) to my body and mind to anything that can be automated in trading, something that constantly has to be improved and adjusted with the changing market. I just want it to reflect a strategy that I'd already apply manually.
The end goal (many years into the future) is to acquire enough account size to be able to quit my day job and live comfortably from mostly automated trading.

What are your thoughts on this roadmap? Is this a reasonable plan to follow? Is it possible to achieve something like a constant 2%-5% monthly returns with algo trading and putting max 8 hours in a week for maintenance and tweaking? Maybe some of you are already living the dream I've just described here?
submitted by PancakeFrenzy to algotrading [link] [comments]

Genesis Vision - Development Progress Mega TL;DR

Genesis Vision - TL;DR
As usual I post this every few months or so after a significant update, to inform both old & new investors
Best places to stay up to date:
Upcoming developments:
Not developments as such, but we can also expect:
2019 Progress:
  • Fund reallocation history added
  • Manager financial statistics page added
  • Additional period history tab added
  • Ability to change brokers
  • Most of the terms on the platform will now display definitions when you hover your mouse cursor over them.
  • In the “Trades” tab on a page of a program, you can now export trading data for the selected period to Excel
  • You can now filter GV Funds by assets
  • When an investor creates a withdrawal request from an investment program, it automatically cancels the previous one.
  • Investors can now select an option to “Withdraw all”
  • Managers now have a separate “Program settings” section
  • The design of the “Program” page was updated and given a facelift. The new version now shows the program’s broker of choice, leverage, duration of the reporting period and more.
  • Addition of program ages to dashboard
  • Managers can now attach social network profiles to their accounts
  • Level/investment calculator
  • Complete revamp of the leveling system
  • First token burn - 1872 GVT / $5821.5 burnt
  • Copytrading & Signals released
  • Integration with Exante - Now full access to over 10,000 additional assets
  • Full integration with Huobi where traders can manage funds through the native Huobi UI
  • Adding new token listings on Huobi & Binance as soon as possible to GV Funds & Programs
  • Risk tags (high/medium/low) added to manager profiles
  • Added ability to hide closed programs in personal dashboard
  • Added open positions into the balance. So you can watch the performance of a program through both its closed and open positions
  • Added visibility to closed programs. So you can now see every program that was opened and managed by a manager
  • Additional tokens already added to GV Funds
  • QUARTERLY GV TOKEN BURN - Starting June 30th 2019
  • Roboforex Integration
  • Ability to short on the platform (via RoboForex)
  • Chain Plus conference in Seoul Korea
  • Genesis Markets & all of its materials translated into Chinese
  • Huobi/Genesis Markets bridge complete
  • Copytrading features
  • Signals w/subscriptions
  • Multicurrency wallet
  • Stop Outs
  • Platform Tags
  • Platform model change (less selling pressure on the GVT token)
  • Additional discounts both for copy trading and investment programs for HODLing GVT
2018 Progress:
  • Metatrader integration
  • Genesis Vision Alpha Version
  • IPFS Integration
  • Numerous trading competitions
  • Launch of Genesis Markets
  • Launch of the iOS & Android Genesis Vision apps
  • Live Platform Launch ~ 30th October
  • Completely overhauled UI/UX for iOS, Android, Investors & Manager portals
  • Fresh website for GV & GM
  • Finance Magnates London Summit
  • Sofia Investor Finance Forum
  • Huobi prestige Investors Fireside Dialogue (speakers)
  • Launch of Genesis Vision Funds
  • Removal of entry fees for level 1 & 2 managers
  • New leveling system -> https://blog.genesis.vision/do-your-level-best-7dc47d16b44e
  • Forex trading went live -> https://blog.genesis.vision/its-forex-time-89a72c7f5fac
In the works for the future (some speculation)
  • Chinese promotion - The platform and all of the reading materials will be translated into Chinese
  • Exploring the possibility of using Binance Chain
  • Genesis Vision DEX
  • Genesis Vision Network -> https://blog.genesis.vision/genesis-vision-network-10bf3e749688
  • Fiat Gateway
  • Bank & Stocks Integration
  • Further platform development for GV & Genesis Markets
  • Further development of all versions of the platform, ie iOS & Android
  • I personally believe we will see GVT listed on some exchanges in 2019
Current Partnerships/Integrations:
Platform statistics
  • Follow @GVTProgressBot on Twitter for updates every 24 hours
The team posted their results for Q1 2019 profits in this article:
Some more info on revenue:
Firstly, I am not part of the team, so any replies are just from research I have done into the project and available information:
1.) The team confirmed that there are 40 people working for Genesis Vision 25 are working in the office and 15 remotely. Jump in the TG if you would like to know more info or even talk to some of the other team members direct. Dmitry Nazarov = CEO, Ruslan Kamensky = Head of Development. (You can do your background research on these guys, they've got skills).
2.) Can't comment accurately on funds, because well, that's the teams business. Ofc a responsible investor should try and find out as much info as they can however.
  • The ICO raised -> $2,836,724 when ETH was around $250-$300 pre-bull run (you do the math).
  • The team/development tokens also amounted to 709,862 GVT/16% of the supply, these funds would/will have been used for development, these were locked for 1 year and released approx October 2018
3.) Sustainability is a big one. This is why I continue to follow GVT daily because I believe the Genesis Vision model is sustainable. See my previous post:
https://www.reddit.com/genesisvision/comments/9p80igenesis_vision_will_soon_become_a_self_sufficient/
TLDR - Here's how they will create revenue from the GV platform (taken from the whitepaper):
  • The project will receive profit from commissions on investment operations. Each investment will be charged 0.5%³ of the operation amount.
  • The project will also generate profit from managing its own fund and by investing it in successful managers of our platform.
  • Genesis Markets will create revenue from trading fees
Another thing to think about - The team have been extremely responsible with their funds. Zero funds have gone to waste and have been used in the most efficient way possible. One example (although a touchy subject) is marketing. The bottom line is marketing will ramp up when the project/platform has had more development (finishing integrating the brokers + additional features). The team have known that the correct time to market the platform is coming, just not yet... Obviously if they had 100's of millions from the ICO marketing would have been ongoing from Day 1. This is one example of being responsible with your investors/ICO funds.
If you would like some more information about the funds, the ICO etc. See these two links:
Bullish on GVT. You want reasons why im bullish? Re-read this post
submitted by elcryptonerd to genesisvision [link] [comments]

Genesis Vision - Development Progress TL;DR

Genesis Vision - TL;DR
As usual I post this every few months or so after a significant update, to inform both old & new investors
Best places to stay up to date:
Upcoming developments:
Not developments as such, but we can also expect:
2019 Progress:
  • Most of the terms on the platform will now display definitions when you hover your mouse cursor over them.
  • In the “Trades” tab on a page of a program, you can now export trading data for the selected period to Excel
  • You can now filter GV Funds by assets
  • When an investor creates a withdrawal request from an investment program, it automatically cancels the previous one.
  • Investors can now select an option to “Withdraw all”
  • Managers now have a separate “Program settings” section
  • The design of the “Program” page was updated and given a facelift. The new version now shows the program’s broker of choice, leverage, duration of the reporting period and more.
  • Addition of program ages to dashboard
  • Managers can now attach social network profiles to their accounts
  • Level/investment calculator
  • Complete revamp of the leveling system
  • First token burn - 1872 GVT / $5821.5 burnt
  • Copytrading & Signals released
  • Integration with Exante - Now full access to over 10,000 additional assets
  • Full integration with Huobi where traders can manage funds through the native Huobi UI
  • Adding new token listings on Huobi & Binance as soon as possible to GV Funds & Programs
  • Risk tags (high/medium/low) added to manager profiles
  • Added ability to hide closed programs in personal dashboard
  • Added open positions into the balance. So you can watch the performance of a program through both its closed and open positions
  • Added visibility to closed programs. So you can now see every program that was opened and managed by a manager
  • Additional tokens already added to GV Funds
  • QUARTERLY GV TOKEN BURN - Starting June 30th 2019
  • Roboforex Integration
  • Ability to short on the platform (via RoboForex)
  • Chain Plus conference in Seoul Korea
  • Genesis Markets & all of its materials translated into Chinese
  • Huobi/Genesis Markets bridge complete
  • Copytrading features
  • Signals w/subscriptions
  • Multicurrency wallet
  • Stop Outs
  • Platform Tags
  • Platform model change (less selling pressure on the GVT token)
  • Additional discounts both for copy trading and investment programs for HODLing GVT
2018 Progress:
  • Metatrader integration
  • Genesis Vision Alpha Version
  • IPFS Integration
  • Numerous trading competitions
  • Launch of Genesis Markets
  • Launch of the iOS & Android Genesis Vision apps
  • Live Platform Launch ~ 30th October
  • Completely overhauled UI/UX for iOS, Android, Investors & Manager portals
  • Fresh website for GV & GM
  • Finance Magnates London Summit
  • Sofia Investor Finance Forum
  • Huobi prestige Investors Fireside Dialogue (speakers)
  • Launch of Genesis Vision Funds
  • Removal of entry fees for level 1 & 2 managers
  • New leveling system -> https://blog.genesis.vision/do-your-level-best-7dc47d16b44e
  • Forex trading went live -> https://blog.genesis.vision/its-forex-time-89a72c7f5fac
In the works for the future (some speculation)
  • Chinese promotion - The platform and all of the reading materials will be translated into Chinese
  • Exploring the possibility of using Binance Chain
  • Genesis Vision DEX
  • Genesis Vision Network -> https://blog.genesis.vision/genesis-vision-network-10bf3e749688
  • Fiat Gateway
  • Bank & Stocks Integration
  • Further platform development for GV & Genesis Markets
  • Further development of all versions of the platform, ie iOS & Android
  • I personally believe we will see GVT listed on some exchanges in 2019
Current Partnerships/Integrations:
Platform statistics
  • Follow @GVTProgressBot on Twitter for updates every 24 hours
The team posted their results for Q1 2019 profits in this article:
Some more info on revenue:
Firstly, I am not part of the team, so any replies are just from research I have done into the project and available information:
1.) The team confirmed that there are 40 people working for Genesis Vision 25 are working in the office and 15 remotely. Jump in the TG if you would like to know more info or even talk to some of the other team members direct. Dmitry Nazarov = CEO, Ruslan Kamensky = Head of Development. (You can do your background research on these guys, they've got skills).
2.) Can't comment accurately on funds, because well, that's the teams business. Ofc a responsible investor should try and find out as much info as they can however.
  • The ICO raised -> $2,836,724 when ETH was around $250-$300 pre-bull run (you do the math).
  • The team/development tokens also amounted to 709,862 GVT/16% of the supply, these funds would/will have been used for development, and remember GVT's ATH was $51 - So if they sold anywhere near this top then there's some hefty funds right there, albeit some are actual team tokens.
3.) Sustainability is a big one. This is why I continue to follow GVT daily because I believe the Genesis Vision model is sustainable. See my previous post:
https://www.reddit.com/genesisvision/comments/9p80igenesis_vision_will_soon_become_a_self_sufficient/
TLDR - Here's how they will create revenue from the GV platform (taken from the whitepaper):
  • The project will receive profit from commissions on investment operations. Each investment will be charged 0.5%³ of the operation amount.
  • The project will also generate profit from managing its own fund and by investing it in successful managers of our platform.
  • Genesis Markets will create revenue from trading fees
Another thing to think about - The team have been extremely responsible with their funds. Zero funds have gone to waste and have been used in the most efficient way possible. One example (although a touchy subject) is marketing. The bottom line is marketing will ramp up when the project/platform has had more development (finishing integrating the brokers + additional features). The team have known that the correct time to market the platform is coming, just not yet... Obviously if they had 100's of millions from the ICO marketing would have been ongoing from Day 1. This is one example of being responsible with your investors/ICO funds.
If you would like some more information about the funds, the ICO etc. See these two links:
Bullish on GVT. You want reasons why im bullish? Re-read this post
submitted by elcryptonerd to genesisvision [link] [comments]

Best Cryptos to Invest in the Year 2019

Looking back in recent history, it seems as though big investors and financial organizations are changing their attitudes towards Bitcoin and altcoins. The media coverage worldwide illuminated the vast returns being had in the cryptocurrency markets, with many coins up over 100x since their conception. This certainly has garnered the attention from both legacy and newcomer investors. Currently, everyone is waiting to see if cryptocurrencies can continue on their path to new all time highs.
2017 turned out to be a whirlwind year, with most cryptocurrencies soaring to new all time highs at the end of 2017 and early 2018. The media coverage of cryptocurrencies was nonstop, with news reports on financial programs almost daily. In addition, many movies and tv shows mentioned cryptocurrency, including the technology oriented show “Silicon Valley.” So far, 2018 has seen a vast pullback in the cryptocurrency markets. Many of the smaller altcoins are down over 90% with Bitcoin, the crypto leader, still being down over 60% from all time highs.
Even with the overall market pullback, many investors are still very bullish on cryptocurrencies going into 2019. Many big name institutions are jumping head first into crypto, with NYSE announcing a new crypto exchange, BAAKT. Also Fidelity has announced a crypto support platform for their customers. Even legendary Ivy league university Yale has announced a new 400 million dollar investment fund geared towards cryptocurrency.
With so much bullish news adding up rapidly, almost everyone seems to expect a very profitable year for crypto leading into 2019. While Bitcoin is still currently the market leader there are also some big name altcoins that expect 2019 to be a huge year for them.
The Altcoin Hierarchy
Before investing in the crypto market, let us go through the basic classes of cryptocurrencies that exist in the market. While every class has the potential to have impressive returns, some coins have more impressive use cases and concepts, In addition to more qualified and funded development teams. Simply put, not all altcoins were created the same.
The Penny Stocks of Crypto
These are the bottom tier altcoins that could possibly become worthless in the near future. They operate much like penny stocks, advertising big promises of ‘guaranteed gains’. Eventually, many fail to offer a fraction of their promised returns. One of the ways to identify these is to look at their team members, their past experiences, objectives of the project, probability of mass adoption, actual use of the coins and many more.
The reasons for their failure is usually because of unwillingness to work for the vision they once promised in the first place, bad wealth management, inclusion of scammers in their team, unrealistic expectation from the project and also making money via pump and dump schemes.
Some of these coins are Trumpcoin, Russia Coin and Verge.
Average Coins
According to the ‘coinmarketcap’ website, there are currently more than 2000 cryptocurrencies listed on their website. Among those, there are around 500 of them that can be considered in this ‘average’ category.
These are the coins that do have a purpose/objective to work on but fail to maintain a good development team. They and their coins don’t really have any kind of purpose in the crypto market and fail to finalize any kind of legitimate deals and partnerships with good investors. This makes their performance very limited as compared to other altcoins in the market.
Some of these coins are Deep Brain Chain, Funfair, Decred, Navcoin, Populous, Cryptonex.
Good Coins
There are around 500 of such good coins in the market that do offer a good objective for the project, a solid team with good experience to execute such tasks, a good marketing strategy to reach out to masses to share their ideas and quality contacts to make some good partnerships in the market.
The only reason why they are only classified as ‘good coins’ is due to the lack of uniqueness that the other ‘very good coins’ offer. They don’t really have that ‘point of parity’ in their project/product that separates them from their counterparts.
Some of these coins are NEM, Stratis, Monero, and BAT.
Very Good Coins
There are around 100 such ‘very good coins’ in the market. Their objectives are well defined with a solid team to execute their tasks perfectly. Along with that, their marketing teams are also well-qualified to make their ideas reach to the masses. Because of such a wonderful blend, they are able to make better and strong partnerships with a number of good companies.
What separates them from the ‘Good Coins’ category is their USPs (Unique Selling Points). They are unique in what they do and that’s what makes the difference.
Such coins are NEO, Stellar, Cardano, Ripple
Top Tier Cryptocurrencies
These are the top tier coins that provide the best functionalities. They have real-world usage, objectives to solve a real-world problem, strong fundamental teams to execute the mission of the project, marketing teams to spread the ‘idea’ and collaboration with a number of media channels to gain early investors.
Also, due to a good PR team, they are able to make a very strong partnership with a lot of Fortune 500 companies that give them an extra edge over rest of the projects in the market.
Some of these coins are VeChain, Ethereum, Bitcoin, IOTA, Icon, EOS, Kinesis.
Promising Projects Going Into the New Year
With more than 2000 cryptocurrencies out there in the crypto market, only a couple 100 of them qualify to be a top tier investment. It can be quite the challenge to find a worthy project among the thousands of choices. These next projects are some that show a lot of promise heading into 2019.
Always remember the 3’S’ of the investment – Sane, Smart and Sensible. An investor who is sane, smart and sensible will always look into the facts before he invests in any business or project.
Kinesis
This is one of the most promising upcoming projects in crypto. The broad overview of the coin is to offer an alternate and better evolutionary step beyond the basic monetary and banking system available today.
In short, it is a cryptocurrency that is backed by precious metals like gold and silver. According to the CEO of the company, Thomas Coughlin, the Kinesis coin is basically divisible units of allocated gold and silver which you can use as a currency.
There will be two stable Kinesis coins in the market backed by Gold and Silver. The stable Kinesis coins backed by Gold will be tagged as KAU and the stable Kinesis coins backed by Silver will be tagged as KAG.
These stablecoins backed by the precious metals like Gold and Silver are real game changers as these 2 precious metals are definable stores of value for use in trade and investment in the real-world economies.
The Kinesis coin is based on the Bespoke Blockchain Technology, a blockchain network forked off from the Stellar Blockchain Technology in order to suit the requirements of the Kinesis coin.
The cryptocurrency project is headed by Thomas Coughlin who is also the CEO of the Kinesis company. He has 15 years experience in the investment, funds management and capital markets. Before being the CEO of the Kinesis company, he held similar positions for the Bullion Capital and TRAC Financial Group as well.
Apart from Thomas Coughlin, there are other great members in the team as well. Their team consists of people like:
Michael Coughlin, Chief Financial Officer, having 41 years experience as a CPA in the accountancy and financial services professions.
Eric Maine, Chief Strategy Officer, having more than 30 years experience in Senior Management in the exchange and financial markets.
Ryan Case, Head of Sales & Trading in Kinesis, having extensive experience as Head of sales trading & partnership and also valuable experience in commodity, cryptocurrency, forex and derivative markets.
Jai Bifulco, Chief Marketing Officer, having a full-fledged 12 years of experience in award-winning full-stack marketer in Finance. He previously held roles of directors in multiple brokerages, consulting and Fintech sectors.
There are more than 30 different team members in this project spanning their roles from The Executive Committee to the Advisory Board to the Operations and Development team.
The coins are very limited in number as compared to other cryptocurrencies where the softcap is limited to just 15,000 KVT coins and HardCap is limited to 300,000 KVT coins. Minimum token that one can buy is set to 1 KVT which is equal to $1000.
So far, more than 57,000 KVT tokens have been sold which roughly equals to a whopping sum of $57 Million. With such a huge investment already deployed for the development of the project, there are still 30 more days left for the ICO sale period to end.
Also, apart from the investments gained, the Kinesis cryptocurrency is also focusing much on the partnerships with the top companies in the industry. These include companies like ABX (Allocated Bullion Exchange), MLG (Blockchain Consulting), Sigma Prime, Etherlabs and Fine Metal Asia Limited.
This cryptocurrency is certainly the one to watch out for in 2019.
VeChain
Broad Overview – In simple layman terminology, Vechain is a supply chain protocol to track logistics inventory. It has successfully implemented blockchain technology in various sectors like agriculture and industries like luxury goods and liquor.
They basically strive to solve real-life problems by providing solutions in various industries like:
Logistics: In this sector, VeChain implements the blockchain technology to improve the flow of information from one department to another by breaking silos yet maintaining the data privacy of every department. Government: There are more than 111 VeChain nodes deployed worldwide. The municipal governments participate in the VeChain blockchain network as nodes. The VeChain blockchain network offers decentralization and immunity against the data hacking that allows room for transparent information exchange. This indeed improves the efficiency of the municipal governments. The technologies used to track the logistics are:
Assigning digital identities to physical stocks that can be stored on the VeChain blockchain network Usage of RFID (Radio Frequency Identification) NFC (Near Field Communication) Proof Of Authority Consensus In-House Temperature Controlled Tracking Quick Response Codes (QR Codes) The future potential of the VeChain cryptocurrency looks quite promising as the coin is signing new partnerships every month or so. Some of its partners are PricewaterhouseCoopers, DNV GL, Renault Group, KUEHNE + NAGEL, D.I.G, China Unicom and the State Tobacco Monopoly Administration of China.
Every single company with whom VeChain partnered has millions of customers that will use the VeChain technology embedded in their system. This makes the coin solve real-life problems and have mass adoption.
VeChain indeed makes a big difference in the logistics business. However, given the kind of turmoil that the entire cryptomarket is facing where the total market capitalization has fallen from $800 Billion to just around $200 Billion, no one can give any kind of assurance on the returns in your investment in the crypto assets. However, stablecoins like Kinesis has a reward yield system that incentivizes its investors for holding, depositing and also referring new users. Hence, the investors always stay on the benefit side even if the market collapses for a short duration.
IOTA
In simple terms, IOTA is a cryptocurrency which is designed for the Internet of Things. The cryptocurrency was developed to root a new direction to IoT by establishing a standardization called, ‘Ledger of Everything’ which means that the data exchange between sensor-equipped machines would be enabled to populate IoT.
IOTA has the potential to make transactions easy. A basic use case of IOTA can be seen in IOTA enabled vending machines. These machines can dispense the items without involving the associated transaction costs. Some other use cases of IOTA are Reddit Chains etc.
Technology Behind IOTA Surprisingly, IOTA does not use the traditional Blockchain technology for its design and development. In fact, a new platform called ‘Tangle Technology’ is being used for IOTA to operate on. The Tangle Technology deploys a mathematical concept called Directed Acyclic Graphs (DAG) which resolves both the scalability and transaction fees issues which we face in blockchain based cryptocurrencies.
In IOTA, for a transaction to be valid, each node present in DAG Tangle must approve the previous two transactions occurring at the other node. And adding to a note, this process removes the chances of mining and makes the system fully decentralized.
Future Potential Keeping in mind the remarkable result of IOTA, there exists a promising scope for it in the near future in various applications and platforms. IOTA would be standing tall and different in the future world full of cryptocurrencies vulnerable to quantum computers. IOTA has a lot of companies that it is working with. Some of them include Bosch, Volkswagen,Fujitsu, Accenture, Poyry and many more.
When viewed from a macro perspective, so far IOTA looks to be fee-less, scalable and fast which makes it next to perfect. However, if you own IOTA, the chances of you liquidating it into fiat currency via a ‘debit card’ and buying something from a grocery store is quite low. In order to fill this gap of actually buying something from the street market and becoming the global currency, Kinesis has introduced its Kinesis Debit Cards that enables the Kinesis token holders to exchange their tokens against FIAT currency and simultaneously buy products from a grocery shop, something which IOTA fails to offer.
ICON ICX
Broad Overview: ICON is a South Korean based company that develops blockchain technology and accompanies the cryptocurrency called ‘ICX’. ICON is a network framework which has been designed to allow independent blockchains to interact with each other. It allows interconnected blockchain networks to participate in a decentralized system which converges at a central point.
Technology: ICX token is built on the Ethereum blockchain network. ICON has developed a loop-chain platform that connects different blockchain communities through the ICON Republic which serves as the governing head for the Federation of other independent blockchain bodies.
All the communities are linked to Republic through C-Reps (Community Representatives) which then connects to Nexus. C-Reps functions as the portals to the communities to establish a connection with Nexus. And this way the entire procedure is carried out.
Future Scope: It is believed that ICON has plans to provide platforms to financial, security, insurance, healthcare, educational industries which can help them to carry transactions on a single network. Thus, ICON (ICX) can be seen having a good time in the coming days.
Also, it has been successful in signing a partnership deal with the tech-giant Samsung where it will be using ICON’s own Chain ID for a new Samsung project called ‘Samsung Pass’. Apart from Samsung, ICON has also signed deals with PORTAL NETWORK & W Foundation.
However, it is notable that ICON is built on the Ethereum network and is an ERC20 token. Hence, the transaction speed greatly depends on the Ethereum network. Currently, Ethereum can execute 15 transactions per second which is quite low in terms of what ICON (ICX) is currently aiming for. However, to fill this gap, we have Kinesis Bespoke Technology that offers a whopping speed of 3000 transactions per second. This lightning fast speed keeps the Kinesis token way ahead than ICX token.
Enjin
Broad Overview The native cryptocurrency of the Enjin Network, the Enjin Coin (popularly known as only ENJ) follows the ERC20 token standard and is used with a smart contract-based blockchain platform. Its typical users include content creators, game developers, and other members of the gaming community, who need to use virtual tokens to manage and trade virtual goods in the gaming world.
Technology behind Enjin As an ERC20-compliant token, the ENJ functions in accordance with the rules an Ethereum contract has to implement. It is used on a dedicated platform that is designed to support open-source software development kits (SDKs), applications, plug-ins, and payment gateways. As for its users, they will be able to efficiently participate in developing, launching, managing, and trade content and game-related products on the Enjin Network, without having to deal with the technical complexities.
Summary of Potential The ENJ is expected to solve some performance issues in using similar cryptocurrencies on the market today, including payment frauds where goods are not actually delivered, slow transaction processes, lack of ownership of virtual goods, lack of transaction standards, and centralization problems.
According to its creators, the ENJ coin, which is based on a blockchain, will create a distributed, trustworthy, and secure framework where transactions can be executed smoothly and quickly with minimal transaction fees. Its autonomous and decentralized system will ensure that all offers and deals will be honored.
Conclusion Generally speaking, the Enjin Coin is good. It helps bring the benefits of blockchain to millions of people participating in the virtual goods market. Its creators are working hard to prevent fraud in the gaming world.
However, it is still a relatively new project. As such, it is still volatile. This means that you still have to take utmost care and be wise when using it.
EOS
Broad Overview EOS is considered by many people who are participating in the virtual goods market as one of the best cryptocurrencies to use, supported by a powerful infrastructure for decentralized applications. Basically, the EOS blockchain is used for the development, execution, and hosting of decentralized applications (dApps) that are traded virtually.
Technology behind EOS The EOS system is composed of two key components, which are the EOS.IO and the EOS token. As for the former, it functions like a computer’s operating system in managing and controlling the EOS blockchain, with the use of an architecture that enables horizontal and vertical dApps. As for the latter, it is held (instead of spent) by the users to be able to become eligible of building, running, and trading apps, as well as using EOS network resources.
While EOS still does not have an official full form, it supports all core functionalities to allow individuals and businesses to create and trade blockchain-based apps.
It also runs on a web toolkit for interface development, just like Apple’s App Store and Google Play Store.
Summary of Potential While there are already a lot of cryptocurrencies based on Ethereum similar to it, the EOS system focuses on the critical and problematic points of the blockchain. Specifically, it attempts to solve the problems of scalability, speed, and flexibility that often cause transaction processes to slow down, which is a common issue in blockchain-based systems.
According to its creators, EOS.IO could also address other problems that come with the ever-increasing size of the dApps ecosystem, such as limited availability of resources, constrained networks, spamming, false transactions, and limited computing power.
It is said to be able to support thousands of commercial-scale dApps without hitting performance bottlenecks by using asynchronous communication methodologies and parallel execution across its network.
Conclusion The EOS system is very advanced. It is designed to address common problems with standard blockchain-based networks. But like other new cryptocurrency platforms on the virtual market today, it still has some weak points to improve. Also, there is again the exposure to volatility, as users hold the tokens to be eligible to trade virtually.
Nebulas
Broad overview Nebulas (NAS) is a new generation blockchain and is open for public collaborations for decentralized application (dApp) development. Its adaptability and scalability are the two characteristics that could propel NAS to be one of the top cryptocurrencies, thus giving it enough leverage to compete in the market.
Technology behind Nebulas Nebulas is the first crypto running on a 3rd generation blockchain, thus making it the dominant player of the new platform. This makes Nebulas highly flexible and scalable, even giving a good leverage in future-proofing their code. That could help avoid hard forking whenever some issues come up during scaling processes.
Summary of potential Adaptability, scalability and search-ability are three of the biggest potential NAS has to offer. With the 3rd generation blockchain it uses, it can allow the adaption of other codes based from Nebulas. This means that other cryptos can adapt to its platform soon enough.
Moreover, it can also act as a blockchain search engine. This can let users search particular blockchains based on efficiency and community strength.
Finally, its goal to provide fair incentives to Decentralized Application (dApp) developers is something that collaborators could expect. This means that more developers are expected to come, thus strengthening NAS even further.
Conclusion Nebulas (NAS) is a promising crypto especially with its adaptability, scalability and search-ability potentials. It can help with the fluidity of crypto into this new generation platform. However, it still lacks the value stability that Kinesis or stablecoins hold. NAS is still unpredictable, unlike Kinesis that backs it value with real gold.
Sky
Broad overview SkyCoin is a full environment system of blockchain technology, and has the goal of endorsing the actual usage of cryptocurrency.
Technology behind Sky Sky has its own algorithm, the Obelisk, which uses the web of trust dynamics to spread influence all throughout the network to come up with a consensus decision. The consensus decision depends on each node, by valuing its influence score. The influence score of each node is determined by the number of network nodes connected to it. This depicts the importance of the node to the network.
Aside from the Obelisk, Sky also operates its own cryptocurrency which is SkyCoin, its own ICO platform Fiber, a decentralized social media platform called BBS, and a decentralized messenger called Sky-Messenger.
Summary of potential Sky focuses its potential on being a full ecosystem of blockchain technology that encourages actual usage of crypto. Through its unique algorithm which is the Obelisk and some other dApps associated with it, Sky is a promising crypto technology and could be considered as the most complete one as of today.
Conclusion Sky, SkyCoin and the Obelisk is definitely a massive platform that could be considered as a full ecosystem of crypto and its related technology. Nonetheless, the SkyCoin depends its value on node influence scores, which could change from time to time as well. This makes Kinesis and Stablecoins still a better choice, especially for investors who want clear investments without hassle.
Crypto Predictions for 2019
While 2017 had the masses captivated and investing large amounts of capital, 2018 has seen price drops and sagging hopes. While the returns in 2017 exceeded anyone’s expectations, a strong pullback was predicted by many. Whether or not this bear market continues from here is the real question many investors face today.
Bitcoin’s rapid rise and fall exposed many problems, and the developers of the top cryptocurrencies in 2019 took note. When considering your crypto investments for 2019, factor in the following trends we predict will influence investments:
More Pullbacks According to the CEO of Vellum Capital, Eric Kovalak, the price of cryptos will reach new lows before they will rebound to new heights. This includes the biggest cryptocurrencies in the market, including Bitcoin. Kovalak believes that it will be priced below $3,500 before it will find its way back up. However, there are many mixed opinions on the current price of BTC, with some arguing the bottom for the crypto markets have already been seen.
Due to Bitcoin-based remittances, uncertainty in global economies like Asia, Turkey and Venezuela, and mobile penetration, there will be a surge in interest and the price of the digital currency.
A Flood of Institutional Investors
Institutional investors have been waiting on the sideline for the ETF to rule in favor of Bitcoin. According to Mike Novogratz, CEO of Galaxy Capital, once the ETF arrives, “institutional fomo’ will start flooding the market.”
Another factor is Kinesis, the investment blockchain that provides investors with a safe and reliable alternative. Pegged against precious metals, it provides protection against volatility that may be caused by political instability.
The Kinesis Monetary System lets you own real gold or silver when you purchase the digital currency. Your ownership is then digitized and then made available for spending, trading, and transfer. What is even better, the monetary system can be used internationally, ensuring reliability of money around the world.
With the recent crisis around the Turkish Lira, the price of gold has significantly increased.
Mass adoption of crypto by consumers In January 2019, blockchain technology will be 10 years old. It remains a speculative investment to this day but 2019 could be the year of mass adoption for digital currencies.
For this to happen, however, there has to be some triggers.
Speculation should become a real utility. People must use blockchain projects in everyday life so they will gain widespread use. Decentralized applications (DApps) must gain mainstream status to promote widespread adoption of cryptocurrencies. Improved payment processing, addressing the issue on the current situation of slow transaction times and high transaction fees. Scalability of blockchain technology with little to no impact on its efficiency. To date, slow transaction times are due to the growing number of users and transaction sizes. This calls for blockchain to grow and have the ability to compete with Mastercard, PayPal, or Visa. Introduction of off-chain solutions that allow users to complete a transaction through peer-to-peer payment channel instead of within the blockchain. This will address slow transaction times. Security will be provided by the parent blockchain. Gold Is Still The Standard Despite the promises and unique functions of many cryptocurrencies, there is still uncertainty in these new markets.
Gold has remained the best form of investment throughout history, and the best store of value, especially through times of crisis in politics and economies.
Kinesis pegs its value to gold which has proven to be the safest investment in history. Therefore Kinesis stands to gain from the stability gold offers while simultaneously fusing it with the unique features of this cutting edge crypto technology.
With the Kinesis Monetary System, investing in gold is no longer the slow process that many older investors are used to. This cryptocurrency is backed by gold and silver and supports precious metals trade.
It has three essential assets.
Tokens that represent an investors ownership of gold and silver. The inherited system where performance is done. Complete blockchain security that supports investments and paves the way for the creation of new assets protected in a banking system. Most importantly, the Kinesis Monetary System allows thousands of transactions to be completed per second in a completely secure channel.
The Near Future
Even a decade later, cryptocurrencies are still very much in their infancy. At this time, no one is sure what shape this growing sector will take in the future. Many cryptocurrencies will come and go but the ones that show the most promise, that fulfill their use cases, will stick around for the long term. With any emerging technology, we have to watch how it evolves and how it merges with our everyday life, changing the way we interact with everything around us.
submitted by National_Association to CryptoMarkets [link] [comments]

PAUL, JIM AND ROY Q&A 26 JULY 2018

PAUL, JIM AND ROY Q&A 26 JULY 2018
https://preview.redd.it/8t2d8ujwzgc11.jpg?width=1024&format=pjpg&auto=webp&s=cd13c50961d8839b7553a489743ea3c8d478306d
Dear members,
Here is a summary in Q&A format for the impromptu session Paul, Jim and Roy did in an unofficial trade.io supporters group on 26 July 2018 which should allay most if not all fears and questions.
Compliance & Documents Needed For Withdrawals:
First and foremost, we're not fortune tellers, but from our experience with other regulated companies in similar asset classes to crypto, like FX, CFD's, etc. regulation is coming and in many places already here as we've all seen.
We're choosing to get out in front of this, so that when it does happen and the companies that are being completely negligent in their compliance and regulatory duties are getting pinched, we're in a good position. With that said, though, we need to be cognizant of competition and not be too strict so that we can't compete with the cowboy exchanges in the near term.
With that said, let's tackle the KYC issue upon withdrawal first.
The process for withdrawals is very simple, and currently there is no tiered structure...meaning its the same process regardless if you want to withdrawal 1 satoshi or 1K BTC. This is in place for many reasons, as it will be easier to start onboarding clients once our fiat to crypto module is in place, and also grandfathering people into the LP.
When withdrawing you'll need to fill out Form A if you are an individual, and Form A is simply saying the info you're providing is true and accurate and you're not a US citizen. Very standard.
Then you provide an ID and Proof of Residence.
NOTHING needs to be certified and NOTHING needs to be translated to English, as we have a fully staffed multilingual compliance department. Apologies if the instructions were confusing, as we're in the process of making some tweaks to make it less confusing.
KYC/Withdrawal process is the minimum possible but still following regulatory guidelines.
Q: R documents provided confidential ?
A: 100% and securely stored.
Q : Restricted countries?
A : Only countries that are restricted are OFAC countries and the dangerous country known as the US.
Q: also i wanted to confirm, as u have already partnered with selfkey , will there be a personal wallet for each user at your end??? or a combine wallet ?? will there be any fee the e walllet service
A: Selfkey won't take place for some time, so put that to the side for now.
Q : So maybe you shall delete current FAQ in profile section? Simply because it's too scary for all.
A : We'll def beef it up to make it much clearer.
Q: Before moving, Any different form for companies withdrawing ? And kyc
A: Yes, good point, company withdrawals have a diff set of docs, that can be found within the guidelines, But still to my knowledge, company docs need not be certified or translated to English either.
Q : Any different form for companies withdrawing ?
A : Yes, good point, company withdrawals have a diff set of docs, that can be found within the guidelines
But still to my knowledge, company docs need not be certified or translated to English either.
Q : TIO price
A : For better or worse, we all keep an eye on price of TIO. The employees and staff have TIO just like the TIOnauts....so we all have the same interests here.
With that in mind, please remember there are nearly 90M TIO in circulation. The volume today (or most days for that matter) is 200K or a quarter of 1% of TIO in circulation.
So while its natural to see, say a 5% decrease in price, you can't ignore this is taking place on literally no volume and off of trade.io exchange. The price is being dictated by bulls**t exchanges like BitForex which is complete hocus pocus.
In order for TIO to get to the BNB levels we need liquidity and participants. We fully expect once we're up and running in full force on our exchange and TIO is limited to that, we'll be in good shape, in our opinion.
Please note this is not a recommendation to buy or sell TIO, but rather pointing out some factual information.
You wouldn't be able to sell 25K without cracking the price. In order for TIO to get to the BNB levels you need liquidity and participants. We fully expect once we're up and running in full force on our exchange and TIO is limited to that, we'll be in good shape.
Q : Exchange
A : It's not perfect, far from it. However, to say its not light years better than the beta which didn't even have working market orders at the time, and a fraction of features that are out now is simply inaccurate. I'll be happy to post what the demo beta looked like at launch. Obviously this isn't something to be proud of, but again, I do want to stick up for our devs just a little bit here as I know they are busting their butts.
With that said, any remaining mods are being tended to around the clock and I'm personally updating everyone every 12 hours. For example, there were issues with saving presets, data issues, etc. have been rectified. Next on the list is BCH & USDT. Once bugs are fixed, then enhancements come that we've been tracking and logging.
Dev's are tidying up any residual issues from launch, like BCH & USDT. Dev's btw, are more than 14 (as I saw that number somewhere), we now have over 30 devs around the globe. So rest assured there is not 1 dev in the basement making Pinnochio 🙂
On the to immediate do list after the tidying:
  1. Adding additional users, of course
  2. Adding the airdrop tokens
  3. Adding additional tokens & blockchains
So those 3 items are on the the "get it done" list. Also will be working on margin trading as well which is going to be a key initiative (i.e. our friends at Bitmex.)
Q : Why do we see trades on inactive assets ?
A : We have algos firing in tiny trades to create charts for now. Until there is adequate flow, this is necessary to create clean looking charts.
Q : So LP is technically already sort of functioning then?
A : Sort of, its a bit more complicated than that.
Q : When traded on only one exchange same prob. How can we say it s not being manipulated by the exchange itself
Non tionauts might think that way..
A : Manipulate usually conotates a negative, not sure why having TIO only on trade.io would lead to a negative.
Q : Won't ppl added in 2 batch miss LP start?]
Tied in to this. Some people will surely complain about the 30 day no fee incentive. Claiming (and rightly so) they did not avail themselves of it since they were restricted
A : We're def not committed to 30 days only, as you rightly said, it won't be fair, if we only open it up to say 5K people in the first 30 days.
Q : when will there be bots placing and filling order book
A : Once there is a larger number of users on the platform.
Q : Set deadlines, dates for things to get done
A : I will refrain from setting deadlines, as we haven't exactly been the greatest at meeting deadlines.
Q : Adding additional users
A : For adding additional users, its going to be a shoot first ask questions later tactic. So as we add, emails will go out, and we will alert the community. Its in everyones best interest that we allow the 20k+ on the waiting list and open it up to the masses ASAP though for 101 reasons. We're all on the same page there gang.
Q : Will you have a public list on which features are being worked on? (Not deadlines, just a list for poeple to know what to expect next)
A : I will have them in my twice daily updates (Paul).
Q : LP
A : As I have said earlier this week, we have been working closely with regulators to modify the LP which will maximize it's utility AND benefit to TIO hodlers. The current structure was based on the regulatory guidelines during our ICO and is expected to change in the very near future. (Roy)
We have been working with regulators and jurisdictions with the goal of making the LP TIO only. As alluded to before, things are going well and if they continue this is the direction of the LP.
Q : will there be a way to calculate taxes, or is it still soon to have an answer to that?
A : Taxes are the responsibility of the LP participant. there are dozens of jurisdictions which have their own unique tax laws and requirements which would be an incredible undertaking to address for all our users. We have been approached with a few technology providers who are working with accounting firms to address this very issue. should we discover a convenient solution for our clients then of course we integrate a solution that is conveinent for all our clients to calculate/estimate their tax liabilities for their respective juridictions.
Q : Can you give us estimated revenues on ICO consulting business?
A : It is important to understand the ICO Consulting pricing model and revenue structure for this. Our consulting services require a small upfront engagement fee to onboard the client. The majority of the revenue is not collected or recognized until the ICO client has completed their ICO as the pricing model is performanced based much of the time on amount of funds raised and tokens issued. which means, revenue from consulting engagement is delayed 3-4 months until the ICO has ended for that consulting client.
Q : Provided tiers remain as is, the price of TIO will most probably plateu at some point (I imagine pretty quickly). What's the plan with the tiers? Will these be dynamic at some point?
A : Tiers will change as price of TIO changes, also with regards to TIO price plateauing, pls keep in mind that while the LP is one major utilization of TIO, there are others to keep TIO in demand. The LP will not be the sole dictator of price/demand of TIO.
Q : With higher and higher TIO price the likelyhood is that less and less people will be interested to buy as "the train would have left the station" Imagine when TIO is $1, you'd need 2,500$ for every tier. Imagine if it reaches 10$
A : Again, the tier structure will remain "flexible" as to allow for the most participants possible while at the same type not diluting. The original plan to adjust the tier is based on the price and volume of TIO. We are contiuously monitoring this to make the LP fair and benficial to our community.
Q : In my opinion, the model of having the LP with multiple currencies (not only TIO) is a much better one, as participants will have multiple diversified assets portofolio
A : It's subjective really. I believe TIO only LP will boost the token much better. That's what we believe as well. Having someone contribute 1K BTC and getting profits from the LP doesn't help TIO at all, it only helps their pockets.
Q : when do new version of calculator appear?
A : Once the terms of service have been finalized and the official announcemnet has been made.
Q : Will the daily profits automatically be included in the next (successive) days' calculations? Or will they be deposited in a separate wallet outside the LP
A : Profit from today will be put in your wallet pro rata tomorrow, and so on.
Q: please tell what will happen to leftover (for the person having teir lvl less than 100)
A: trade.io keeps it. If the participants don't maximize their LP contribtutions that is their discretion. we are not forcing the min teir structure to be 25K as this would not be fair. We structured the LP to be fair for the masses and understand that not everyone can maximize their contribution. However, if LP participants do not max out their teir level we are a for profit company and any leftovers will help us spearhead additional initives and partnerships to increase the utility of TIO and benefit the community. There are direct and indirect benefits of the LP here.
Q: Will the LP be available before the end of September?
A: I refuse to provide a deadline...don't make me....:) We stink at hitting deadlines, its a tough biz in tech. We're busting our butts though to get the LP up and running.
Q : well, just imagined that dynamic model and it seems that in that model rich become richer and poor get poorer. Am i wrong?
A : With the flexibility for us to change the tiers we can control this better so that doesn't happen. The last thing we want is to go against our core values and placate to the whales. That's not why we created the LP. the LP was created to redistribute wealth in an easy an accessible way to the masses. What benefit does it give our community if only the rich become richer?
Q : will there be an auto-reinvest option?
A : Yes, 100%, like a money market sweep type mechanism.
Q : On window for LP withdrawal
A : You can opt out at any time, and it will be automatically removed at the next "roll over" similar to if you have traded FX with swaps.
Q : The auto-reinvest will probably hit the tier limit right (unless you're in the top tier which is currently limitless). What happens then?
A : You'll be automatically bumped to the next tier
Q : will top tier be capped on revenues shared on the start, or this will be a possibility for the future?
A : Top tier is capped in terms of % but not in terms of quantity, is that what you're asking? There has always been a cap to the %....its never been open ended. we are potentially paying out 55% of the LP, in actuality, not 50
Q : but we talked earlier that there will be an option to re-invest.. now given that the payouts will be done in other crypto.. will that option be able to convert let's say BTC into TIo and add to the LP automatically ?? if that's the case, then we''ll automatically move to the next tier.. set and forget
A : We can have a bot that auto buys TIO, we can add that later to reinvest. A later feature would be the concept of "dust" to do this reinvestment. .
Q : Will the daily profits automatically be included in the next (successive) days' calculations? Or will they be deposited in a separate wallet IP plan using dust later?
A : They would need to be reinvested to move up. initially, this would have to be a bit manual, but we are planning a DRIP plan using dust later.
Q : Non-TIO assets and caps
A : For non TIO, there needs to be caps so people dont do 2500 TIO and US$1 million. When and if we allow non-TIO in LP. AND non-TIO will not have same multipliers, but as an enhancement. We are not trying to fuck you or game you in any way. Over time, we want to enable people to make money loaning BTC, ETH, USD, etc so other can go short. Returns on that will not be like TIO. We launch with TIO only, later we present the plan for other assets. On we have something we all like, we can move ahead.
Q : LP top tier caps
A : There will be a cap on top tier as well, above where our current largest outside investors are.
Q : so Jim.. shifting gears a bit here, can you talk to us about the regulatory side of things.. where do we stand? what're the future plans with regulators? will TIO be listed as a utility token or a security? anything you can share with us in terms of regluations would be great.. I know there's a lot of confusion with the SEC right now, but any thoughts or undergoing discussions?
A : All cryptos have different classifications in different jurisdictions. We are in Switzerland, where we are a utility. US might treat us diff, as they see everything as a security. Malta has another view. This applies to ALL cryptos, not just TIO, every jurisdiction is different. To say any token is a security or utility is not accurate. Dealing with customers for exchanges is a different regulatory issue.
On the exchange regulatory side, we are working on multiple jurisdictions. HK, US, Malta, etc. In Malta, we have co setup already. Just waiting for app process to open.
Q : Is there any chance that leverage trading will be added to the exchange?
A : yes, on the priority list.
Q : Once we lock our TIOs to the LP, adn after a few months we want to remove them (loss or profit does not matter) do we get back teh same ammount of TIOs even if the price of TIO increases?
Lest say I put 25,000 TIO, with TIO price of $1, adn wehn I decide to take them off the price of TIO is 2$, do I still take 25,000 TIO back or 12,500 TIO ?
A : Yes #TIO in = #TIO out unless the LP has a massive loss that wipes out our blanace sheet and TIO reserve which stands in front of you.
Conclusion : We are going back to whipping the slaves in the salt mines.
submitted by Scarlet_TIO to u/Scarlet_TIO [link] [comments]

Transcript of George Webb Video Series Part 101: "Hillary's Leakers, Hackers, and Henchmen" [@Georgwebb / #HRCRatlne]

submitted by browneyeofprovidence to TruthLeaks [link] [comments]

Binary Assassin Review Is BinaryAssassin.co Scam Or Not? - Binary Assassin Review Is Binary Assassin A Scam Or Legit?

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[Table] IAmA Goldman Sachs Investment Banker AMAA

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Date: 2013-01-12
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Questions Answers
I have a good friend who is a VP at your firm . They blamed the entire Financial crisis on ' poor people who could not afford their mortgages ' they said this was pretty much he opinion among the investment banks . How do you feel about what happened to Greece and Goldmans hand in it ? That is not true. Opinion is very much split within the investment banks and there is no right or wrong answer. I personally don't believe at all that the crisis was caused by 'poor people' - and I don't like that sort of categorization of people in the first place. There are perhaps 15/20 different institutions you could blame for the crisis, there's no way of isolating individuals. I'm not sure what exactly you think GS's hand in the Greece affair was. Of course it's a sad story and I feel remorseful - I recently donated £50,000 at a charity ball to help rebuild one of the islands which has almost been burned to the ground. But ultimately Greece employed GS at the time because they wanted to fudge their finances so as to meet entry requirements for the Euro i.e. the greek government was knowingly employing GS to help perform an extremely risky task - GS didn't force anything upon them. If the experiment explodes 10 years later (as it did), should GS really be the party to blame?
The next day, you are flipping through television channels and randomly come across a pre-season CFL game between the Toronto Argonauts and the Saskatchewan Roughriders. Knowing your inevitable future, do you now watch it? Yes of course i fucking do. The future is inevitable. Chuck Klosterman i like your name.
I love seeing the ignorance that emerges in these AMA's relating to investment bankers. I am really interested in a career in either IB or Consulting, have a few questions for you. Thank you to fletch below for answering this question.
1) How did you cope with the hours? I like working hard, I like working for my money but I also like enjoying free time and having a social life. When working a 100 hours as an analyst that would certainly have to suffer 2)What were you academic results like through your degree? I'm currently in my second year and will be realistically looking at 2.2, 2.2, 2.1 and 2.1 (years 1-4). This summer I'd hope to get an accountancy internship in one of the big 4 followed by an internship next year in one of the large IBs. I know there's more to a candidate than solely their academic credentials + internship but would this stand me well for a BB in London? (Top Irish university, undergrad will be in Business and French) 3) What is it that makes you enjoy this job? I know the paycheck is certainly a bonus but you've said there's more to it than that? Whatever your breakdown between modules is, you need a 2.1 overall. Even if your average is 60% or 61%, that's enough to get you past the minimum requirements and through to interviews. After that it's up to you - they'll take someone with a good business mind and strong communications skills irrespective of whether they average 60 or 78 or 92. I disagree with him. My job is extremely rewarding and i wouldn't swap it for any other industry at the moment. If you want evidence of people enjoying their jobs look at the number of years they spend at their respective firms. Most of the partners at GS are 'home-grown' and have spent 20/30 years sweating away but don't regret it for a second.
Do you realize that in countries like Spain you're seen as an evil person that only wants to get profit and don't have any soul or feelings and probably kicks puppies for fun? If so, how do you feel about it? Yes and understand their anger but it should be re-directed to politicians!
Proof? and of course... how much did you make in 2012 approximately? Approx 600k. How do upload proof e.g. photo evidence?
Sorry, new to reddit!
Do you have free ticket for me? Always looking for handouts. What is it young people say, lolz??
I'm very curious of your opinion of Secretary Geithner's role in LIBOR. Do you think he was guilty? innocent? Thanks! LIBOR scandal is way too complicated to explain at 2.30 am after a few beers. Many active players are implicated and i think he will be seen in the wrong eventually like many others.
What hours do you work? Approx 80 hours a week not incl. flight time I go to festivals in Europe but would love to go it. Do you have free ticket for me?
If the concept and idea of a monetary system was replaced with something better (hypothetically) what would you do? As in for a career or what not since now you are jobless. Resources will always be scarce so someone will have to ensure an optimal allocation. There will always be a market of some kind whether it be a public market or an internal government one.
Hypothetically we could have unlimited power, molecular production, and master matteenergy conversion. Would that change your answer? Good interview question. I'll keep it in mind.
In your view, are there any regulations that could meaningfully alter the moral hazard typified by the 2008-2009 bailout of the financial sector? If so, what might they be? And if not, to what extent does regulatory capture play a role? Regulatory capture is a seriously problem not just in banking e.g. also in the energy business. How do you reduce it? It won't happen unless the public demand it, as everyone with power tends to benefit from it and so they won't make meaningful steps to change anything, i.e. its a win win situation for government and business. However it needs more than just 'occupy movements' but rather i am talking the mass voter population.
Have you seen @gselevator on twitter? if so have you ever contributed/is it legit? Haha yes i have seen it and no its not legit, well at least i think its not. Seriously though the elevator chats can be quite entertaining and revealing.
Do you use a mouse when you work on excel? Are you joking?
No.
In your opinion, do you think the money you make is worth the hell that you go through to make it? I love my job and so i am lucky that the money is not the only motivator.
But yes i love checking my bank balance at an atm.
How can i break into finance with a sub-par gpa? Network and try non BB firms.
A company founded by 100 duck sized horses. or A company founded by 1 horse sized duck? 100 duck sized horses every time. Basic risk management theory - don't put all your eggs in one basket. If that 1 horse sized duck isn't exceptional, your business is going down the tubes.
Prior to the collapse, did you have any idea what was about to happen? It was getting obvious that there was a bubble, but never predicted how great the fallout would be and that in 2013 we would still be suffering
What do you do day to day? I work in the energy field in Europe but don't want to get too specific. Day to day we advise natural resource companies on all things financial such as m&a and financing strategy and then execute on their behalf. So I am on the corporate finance side rather than sales and trading. However I work closely with the syndication and sales guys such as if we are executing an IPO or a follow-on share offering.
I have a buddy who's small but established clean tech company needs money building biodiesel manufacturing plants around the US that run off garbage and wood chips. The technology is actually coming from a company based in Sweden. Can you help him on the money side? Send me a link to their website.
I find clean tech very interesting.
How did you get your job? Did a summer internship then got FT conversion.
What college did you go to? I went to LSE (university in the UK)
What jobs did you work before getting this one? Did another internship whilst at university at an oil company.
At what age did you get this job? 22.
I hear the GS company culture is like " a frat on steriods" true or false? False more than true but depends on team.
Is it as cut throat as I have heard with the bottom 50% of people getting sacked each year to make way for new guys who will probably be sacked the year after? Bottom 5% is more accurate. 7-8% in a bad year, 3-4% in a good year. It's a fine line between 'cut throat' and having a 'healthy competitive atmosphere'. But we'd be out of business very quickly if we kept firing half of our staff every year...
Is there any stock I should look into in 2013? Long term or short term. Short term- African Barrick Gold. The chinese walked away and so the share price plunged and despite serious operational issues, the massive drop has presented a golden buying opportunity.
Long term- anything to avoid inflation, inflation scares the crap out of me and is going to be a big problem in the Uk and elsewhere in the future.
Also buy into soft commodity boom e.g. meat in africa, think zambeef etc if you can find an attractive entry point.
What's the best preparation for an interview with an i-bank? I'm over here in the states and come from a non-target. Read WSO, the forums are full of useful hints and tips especially for non target guys. Depending on what area you are applying for, make sure you know some really good examples and stock pitches as it is amazing how many candidates lack knowledge e.g. if applying for ECM for god sakes know some of the recent IPO's and likewise for equity research have good stock pitches and have conviction when presenting. Best of luck!
How important is your undergrad majogpa I'm double majoring in Econ/Conflict resolution studies with a possible minor in poly sci (depending on how the credits work out) I got a 3.9 gpa last semester but it only brought my overall gpa to a 2.4 because fuck klonopin. I should have at least a 3.0 by graduation, but I'm wondering its worth it to pay for and retake my first semester. Can I have $373 dollars? :D :D I promise only to get moderately drunk with this money. Sorry, a lot of questions, thanks for answering. Oh also, one last thing, all else being equal, is calc I enough math to apply for analyst job? or do I need more? Undergrad course choice is not that important for IBD but obviously for more quant roles you need maths skills Again i am sorry but i am not very clued up on GPA Ok i give you money but first you have to register yourself as a charity so that you can gift aid it and get much more!
Where did you go to college? LSE.
As an undergrad? How hard was it? I hear it's very difficult. Yes, undergrad.
Harder than most places depending on your course. Especially as you are competing with loads of kids from Asia who do extra calculus to relax.
How do you see regulation affecting the overall banking culture? Everything I have been reading and what people have been saying is that the culture is changing. Have you been seeing this? I recommend reading "The Culture of Success" by Lisa Endlich.
Also how do you like the goldman culture? Regulation is hurting us...but: Link to business.financialpost.com
How much total did you make in each of your years at the firm? I don't want to get into specifics.
But for your first three years as an analyst roughly 50k-70k (£ not $)
As an associate 120k-160k.
After that the numbers get exciting.
What tools do you use on a regular basis? Excel, Outlook, Excel, Outlook, Excel, Outlook...powerpoint.
What is the biggest reward of working in IB? Where I study, students with high grades are pushed to chase the prestigious internships firms like GS, MS, etc offer. Their reasoning why they chase these jobs is that they think it is the highest (prestige) in finance they can go or are attracted by the money. It seems shallow to me. What does IB offer that makes your career personally fulfilling? Why didn't you choose to work elsewhere? I find what i do at the front end of the energy sector fascinating. If your interested in business or globalisation or other similiar areas then IBD is pretty much at the cutting edge of it.
Thanks for the reply! When you were first starting out at GS, were you able to balance a personal life aside from your work? Has it gotten easier as you have gained more experience? Would you recommend IB as a field to pursue to your own children today? Thanks again! I'd say during my first 3 years as an analyst the 'balance' was almost non-existent i.e. i was regularly working 100+ hours/week. Since then it's become easier year by year and i think that's true for most. And yes certainly i would encourage my children to pursue it - not that i have any yet.
Where did you go to uni what was your gpa? how many physics majors work their? did you start off as an intern? sorry for rapid firing questions. LSE (london school of economics) - first class honours but don't know how that translates into GPA.
I know only 3/4 physics majors in the office at the moment.
Yes started as an intern.
Do banker run the world? how much political influence do they really have? It works two ways. Some bankers have their fingers in politics in a way they perhaps shouldn't. But equally many politicians have their fingers in banking and can force our hands.
How hard is it for a non ivy leager studying finance to get an entry level job at GS? what about internships? Tough. But with enough internship experience beforehand it's possible.
What do you think of Forex? Would you ever trade on it with your personal money? Difficult to answer - you can trade forex in a million different ways - some ways are more interesting than others. I don't personally trade it, but others forge a very successful career out of it.
What was your bets investment in? (If that's how it works) That's not really my role in IBD.
But outside GS I invested in the Shanghai property market a decade ago or so. My 4 flats there are now worth 10-12 times what they were worth then.
WTF caused the 2010 flash crash? Good question. Nobody knows for sure.
From the link you've provided, I find no.2 the most plausible explanation. But I would also add 6. UBS did something stupid again.
As hardcore capitalists what is your feeling about (management of) banks that seem to live under the impression that profits are for a happy few while losses should be carried by tax-payers? That's not what I believe at all.
And by the way all of us are tax payers too. The top 5% contribute approx. 50% of the government's taxation revenue. So if losses are being 'carried by tax-payers' - that doesn't exclude people in the banking industry by any means.
Matt Levin at Dealbreaker (former GS guy) describes Investment Bankers as "Travelling money salesmen". Do you feel that this description is apt? The operative word in your question is 'former'
Do you think that's how he described investment bankers whilst he was still with the firm?
People tend to get very bitter and sensitive after they get fired. See Gregg Smith for further evidence..
Is an MBA necessary to be competitive when looking for a job or is a B. Comm enough to compete with others when looking for jobs in the industry? Depends on what entry point - if you do an mba then you apply for associate entry whereas b.comm is an undergrad degree and so you apply for analyst roles. If you do a b.comm at a top university/college and get some internships then you should be well placed. Good luck!
Do any of your co-workers frequent Reddit? I imagine less than 0.1%.
Then again 2 people on this feed at least have claimed to be my co-workers, so who knows...
Since you're new to Reddit, what made you want to do an ama here? I'd like to alter the public perception of bankers - not all of us are the obnoxious greedy individuals you read about in the media.
I'm also extremely interested in hearing what non-finance people see as our key economic issues at the moment - this seemed a good way to find out.
Proof? How do i upload photos? i will upload photo proof. Sorry not very experienced with reddit!
I am a senior in high school and I am interested in majoring in either accounting or finance, but I don't think I know enough about either career path to make the best decision, can you explain the large differences the two paths I would go down depending on major, or any advice that may influence my decision that I would not know at this point? What you choose to study doesn't necessarily determine the industry you'll end up in. We have guys in the office who studied history, languages, even medicine. Just go for what interests you the most and focus on getting high marks.
Curious as to what kind of degree you hold/what was your GPA in college? BSc. Economics degree from LSE. First class honours, don't know about gpa
I used to work for the swiss banks and swiss stock market indirectly, and have a few friends in the banking business, including GS and Nakamura in London. What is your personall opinion on prostitution, cocaine, and medication misusage in your business? Also, also what is your stance on GS' questionable involvment in Backpage.com? With regards to backpage.com, the guys on the deal did not do their KYC checks properly. KYC checks are crucial for banks- your reputation and future success is more important than any single customer. Look up riggs bank and the Obiang family and then you'll see!
Possible. But realistically those kind of excuses are given no matter what really happened. For a company as big and powerful as GS I can only take it with a grain of salt. Are you content in the way GS does business from a moral point of view? It's either a pinch of salt, or a grain of sand...
Thanks. I'm not a native english speaker and have not used it regularly for years, so it's gotten pretty shit. Any chance you answer the other questions? Yes, apologies. I think some of our deals have been morally reprehensible in the past. The same goes for any major investment bank. But i think we've done a very good job in 'cleaning up our act' over the past few years and the public has played a large part in that. With any luck we will see a much healthier banking industry soon.
How accurate is what is said on the Twitter handle @GSElevator? It's grossly exaggerated, but not entirely inaccurate...
You guys got trolled hard. A GS IBD guy not knowing how to upload something to the internet? Seriously wtf. Probably some guy from wso who wanted to feel like he was "in". Link to i.imgur.com Just doing some work now! Link to i.imgur.com In case you wondered what Lloyd's signature looked like.
Is there anyway you can help me out, connections or anything, someone I should talk to to get a interview? Can you interview me, I shall forward you my resume! Private message me and we will discuss. Sure i can help you out. I know how tough it is for you guys who are trying to get in!
Any thoughts on the MSI/SSG mini-scandal this week? Yes but won't comment.
Very hush hush.
I also work for GS. Which building are you in? I'm based in PBC. Also IBD, North. Would do an AMA and provide proof. I'm in PBC too, moved from RC quite a few years ago. I'm not sure exactly what sort of proof i'm supposed to provide...?
Would you say you were groomed for this kind of work from a young age? LSE is an elite school. Did you go to elite private schools growing up or were you an exceptional student at a normal school? Yes, Jimmy groomed me from four years old
Do you like your job, or should i say career? Yes. If i did not then i would go and sail around the world again.
From your experience, how relevant is CFA nowdays? Definitely worth doing.
How large was your Xmas bonus and did it get taxed over 50%? See below - total comp was c.600k and yes taxed above 50%
You said in other replies that you were 22 when you got this job and make 600K now. How old are you now, and how long did it take you to get the that salary level? Is it all commission? Was analyst at 22 and then moved up the ranks. Just turned 30, feeling old now!.
Can you give some insight on the business model of Investment banking? (I have no clue to be honest) . And what does a portfolio manager do exactly? Portfolio manager is not IBD. He/she would work in investment management e.g. for blackrock or GSAM or a hedge fund.
I'm currently writing a thesis on the future of rentierism in the gulf with an emphasis on Saudi Arabia. I don't have much of an economic background apart from this, but the international energy market is obviously important to my research. Can you recommend any good (preferably free or low cost) primers and newsletters on the subject? Hmm there are many on energy market but not too sure about rentier specific ones. Will have a think. I did my university thesis on Saudi and so will have a dig around.
How do you live with yourself? Knowing that the company that you work for doesn't give a fuck about you or anybody. All they care about is money. They have ruined america many times over. Seriously, how do you live with yourself? Actually our business is dependent on America and more importantly the rest of the world's prosperity. So actually our interests are nicely aligned.
Link to www.rollingstone.com. Seems to me like your bosses and former bosses don't give a flying fuck about anyone but themselves. Can you name one good thing Sachs has done since you have been there? I think you meant 'don't give a flying fuck" in your comment.
Do you happen to work with quantitative analysts? Depends which deal we are working on. Sometimes we need them, other times we don't.
What's your retirement savings invested in? Property (international and uk), shares mainly through tax efficient ways e.g. isa and EIS, pensions and artwork.
No swiss bank account i am afraid.
"The first thing you'll realize is that they are extremely disciplined. You would never come across a Goldman employee, who would, after two or three beers, say "My colleagues are a bunch of dickheads" From Money and Power William D Cohan. What do you have to say about this? I agree with it.
What advice would you give someone who is interested in going into finance and is currently in university. What would you have liked to do in your time spent at LSE now looking back? Party more! You only live once. You can have that advice for free.
Thanks for the AMA. Do you know anybody I could speak with regarding interviewing and internship opportunities? Private message me.
Doing an AMAA are you putting your job at risk for releasing company secrets/opinions whatever? I've not released a single company secret.
Edit: added an A to AMA. There's nothing in my contract to say I can't express my own opinions.
What do the hopes and dreams of Americans taste like? Raspberry sorbet, in my opinion
What is your feeling on the separation of traditional banking and investment banking as is proposed by the FSA? I think overall it's sensible - Barclays being the best example of why they should be separated.
At GS specifically of course we're not involved in traditional retail banking at all so it's not the most pressing issue for us at the moment.
You mentioned 80 hour work weeks. Could you explain the timeline for your typical work day. Do you work 7 days per week? Is your work more project based where you go non stop and have some time off between projects? There's no typical working day - some days are 18 hours and others are 12. Depends entirely what stage of a deal we are at. Generally I work 5/6 days a week, but keep in email contact with the office 24/7.
Yes, entirely project based. But if we are doing our jobs properly there's not much 'time off' in between.
I'm currently on target for a 2:1 or a first at university in my economics degree. But due to a slight hiccup in my a-levels, in which i got A* A C, still managed to go to a top 10 university but do they look at the C, which was in maths. Your university grades are definitely more important. If you do well in a mathematical module at uni that will allay any fears they have about an A-level grade.
Do they look at a-level grades and expect a minimum maths grade? I'm not bad at maths by any means, just an unfortunate anomaly in the exam season. Which uni are you at and what do you study?
Manchester and economics BA - but i have econometric modules and another mathematical module for 2nd year. Any chance of switching it to a BSc? Immediately reassures employers about your quantitative skills..
Hello there, first of all I want to thank you for doing this AMA. I am a dutch college student and currently I'm writing an essay about the BRIC countries. I used your book to write down predictions of their economic future, and I'd like to ask: did you participate in writing that book? Are you referring to Jim O'Neill's book? I have a copy on my desk, but no I wasn't involved in writing it.
What do the guys at GS think about @gselevator? See same q&a earlier on!
How often do interns get recommended to come back? In a good year, approx. 50% of an intern class will get hired.
In a bad year (2008 for example) perhaps only 10% or 20%
Any opinion on Nautilus Minerals? Can't comment on that company i am afraid.
How do you feel about manipulating the currency markets to screw over the average retail trader? I don't know what you are talking about.
Have you ever seen American Psycho? Yes.
I am going to copy and paste this in an email and send it around my team. You will famous at the firm, well at least in my team in london anyway! Yes of course i fucking do. The future is inevitable. Chuck Klosterman i like your name. That would also be an awesome interview question! And i give them 5 secs to answer.
I highly doubt GS interns work for free. I've almost never heard of an internship in finance that didn't pay -- most firms I've encountered usually pay the same base wage as the first year full timer positions you are interning for. Interns in front office at GS in london get circa £42k pro rata. So not bad for a summer job and remember no tax as they are below threshold across the year!
Gold Mansachs. Not sure about that one.
I prefer Goldman Snachs, the name of our canteen.
Yes, Jimmy groomed me from four years old But yes went to a private boarding school before. Widening the diversity of applicants in IB is a key target for HCM.
What is the future of investment banking in a new world order where both governments and the people are fed up with the excesses that led us into this credit crisis. The industry is always evolving, that's what makes it an exciting industry to be in. I imagine it will take us a good few years to fully regain the trust of certain clients, but ultimately if this whole saga causes us to readdress our methods and practices to improve our service then in the long run it's a positive outcome.
PS. Do you not think people should be fed up with the governments too, as well as the banks?
Not OP but I can answer this as a 2012 intern who got converted for Programming. A Math degree is a good +. There are 2 ways. Either join in as a programmer, show your merit and change departments, ie move to Quant side. Other option is to get a MBA, and join the I-Banking dept you want. What's your name?
Do you have any books or resources you'd recommend the layman for learning investment skills (i.e. the wealthy barber) I ask because i feel there is a lot of crap out there and would like to genuinely learn. I have never heard of the wealthy barber.
Last updated: 2013-01-16 15:54 UTC
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