Bitcoin - Euro Realtime Bitcoin - Euro Realtimekurs ...

Need suggestions on realtime bitcoin exchange rates website

submitted by niktrix to Bitcoin [link] [comments]

Bitcoin rate exchange btc to local currency realtime payout

Get instant live market best bitcoin rate realtime updates exchange btc to local currency payout interactive tools convert crypto to cash via bank transfer
submitted by farazkhanniazi to u/farazkhanniazi [link] [comments]

Buying Bitcoin in Australia. Dont pay GST with Coinjar! Comparison of market rates of Australian exchanges in realtime.

I am a Bitcoin enthusiast. I am an Australian.
Australian Taxation Office official 'guidelines' now suggest people 'may' pay a 10% tax to be added to all Bitcoin purchases in Australia.
Since this, Coinjar has now added 10% to their prices. Im not going to pay that 'tax'.
On a $5k purchase, that is $500 increase in price on Bitcoin in Australia compared to anywhere else in the world. No thanks.
Here is absolutely awesome site that has a comparison chart of prices in Australian market it is called Compare Bitcoins Australia: http://comparebitcoins.net/
From what I can see https://www.igot.com is not currently charging GST thus saving me 10% on my Bitcoin purchases ;)
A big deal if you are buying thousands at a time!
Coinjar - take heed. I (and I assume many others) will no longer be using your service, so please change your GST and commission to be more competitive.
Igot has 1% commission, yours is double at 2%, AND then you charge GST which comes at an extra 10%.
Thats 12% more Coinjar customers are paying (like myself) right there.
Here is my referral link for Igot :)
https://www.igot.com/?inviter_code=7408714051
Please sign up using it if you found my info useful and find they can save you at least 11% compared to Coinjar ;)
submitted by bitcoyna to Bitcoin [link] [comments]

Bob The Magic Custodian



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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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



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

How Bitwala can take your money away!

"Bitwala is the first blockchain bank account. Get a fully licensed and regulated German current account with cryptocurrency trading features, a debit card, and a built-in Bitcoin wallet. We enable fast, intuitive cryptocurrency trading and the possibility to manage your cryptocurrencies and Euros in one place."

This is what Bitwalare declares but the reality is absolutely different. If you want to know how Bitwala can take away your money, keep them for weeks, make the live hard, and request tons of papers without any reason for this, continue reading below. Not interested - try yourself but be aware of the high risk and harm which so-called bitcoin-friendly "first blockchain bank account" can cause to you!
I registered Bitwala account more than 6 months ago and was glad to be able to deal with an officially licensed bank service that supports bitcoin. I started buying and accumulate some bitcoins there, although the rates are not so tasty but they are also not so bad. To me, it looked like a good price for keeping a part of my investments in a safe place.
Bitwala provides a page, called "Handle", to buy/sell bitcoins in realtime. So, whenever I needed it, I could buy or sell some. Up to the recently, when they started requesting mobile-pin. It's a good thing to have but only if it works as expected. When 4 of 5 SMS comes with a delay like 10 minutes, it means that you can't use the service. Sometimes, even can't log in! So, in the beginning, it was annoying. After the 3d lost opportunity to buy some coins by a very good price because all SMSs were delivered too(!) late, I informed the Support team about the issue. Moreover, I executed the transfer to move my (6K) money away. And you know what, they didn't reach the recipient, neither returned back!
On my request, Bitwala started sending me tons of questions about where I took this money from, how much I earn, why I'm buying Bitcoins, and how familiar I'm with the cryptocurrencies?! (wtf). In the reply, they claimed their bank partner, that those questions are required by it. I had to send my income confirmation, and answer crazy questions, and still, after 10 days, I'm struggling to get my money back!

Why I'm sharing this - to warn the community about the worst "blockchain bank account".
I keep the copies, emailing, etc. So, can prove every word.

P.S. a couple of other stupid questions, allowing for the fact that the mentioned transactions (buying/selling coins) were executed on Bitwala. Are you joking, Bitwala?!
- Please provide supporting documentation regarding the transaction/s (e.g. invoices, contracts, agreements).
- Please provide appropriate supporting documentation establishing the origin of the crypto assets of the below mentioned transaction/s (e.g. trading history, screenshots from exchange platforms, etc.).
submitted by MaksymN to Bitcoin [link] [comments]

Shuffle Token [SHUF]: A Deflationary Coin with Stacking Reward System 🃏🔥🚀

Shuffle.Monster V3 [Ticker: SHUF]
🃏 How it works?
1) There were originally 1,010,101 SHUF created.
2) Each time SHUF is transferred, 2% of the transaction is charged this way: 🔥 - 1% of the transaction is destroyed (Burned), 📦 - 1% is assigned randomly to one of the 512 Top Token Holders (Reward).
3) On each transaction a random holder (inside the top 512 holders) will have a reward of 1% of the transaction directly transferred to his address, making this a Stacking Currency by definition.
4) There will never be newly minted SHUF, so because of the constant burning, each day there is less SHUF, making this a Deflationary Currency by definition.
🔄 Distribution:
- All distribution via Free Airdrop, no ICO, no KYC, no social tasks - all Tokens can be obtained via smart contract interaction inside our official website (up to 1500 SHUFF per user) using any dApp Browser (Metamask, Trust Wallet internal Browser, Enjin, etc). At the date of this post, there are still 33% of SHUF to be claimed (join Airdrop here).
📈 SHUF Tokenomics:
☑️ SHUF is not just another BOMB copycat, in fact, besides the 1% burning rate, SHUF has nothing to do with BOMB or the hundreds of copycats in circulation.
☑️ SHUF contract was all coded from scratch and after 2 testing versions it includes now a lot of innovative features embedded into itself (including top notch security features).
☑️ The "Shuffle" reward method is fully automatic and doesn't require any sub-consequent contract interaction in order to claim rewards, no need to claim rewards as the rewards are transferred directly to the winner's address, so they can be obtained passively just by holding a position inside the heap (top 512 holders).
☑️ Like any Deflationary Currency, SHUF supply is constantly auto-destructing itself, leading to less and less SHUF in circulation and long term scarcity. So, part of the Tokenomics case for SHUF comes from it's deflationary nature, except it doesn't comes just from it (see next points).
☑️ The "Shuffle" Reward System gives another layer of value to SHUFF's case. Rewards are not for everyone, they are concentrated on the heap (top 512 holders), making them much more appealing because of the increased chances of reward on a daily basis.
☑️ The "Shuffle" Reward System has also viral potential, entertainment value, it's social oriented and above all: it's fun. Users tend to engage more organically inside SHUF community sharing their daily rewards, each time there's a bigger reward there's guaranteed organically interaction among the community. Despite their random nature, these rewards are guaranteed by math (with hundreds of transactions per day, a random reward is expected each day to each of the top 512 holders, but in the future with thousands of transactions, these rewards will be even more consistent).
☑️ SHUF has "transaction stimulation" coded by design, making it most likely that Token Transfers (and Burning) will always take place. This will happen because of the nature of the Reward System: users must remain in the Heap (Top 512) in order to receive rewards, and this leads to a variety of scenarios, all involving recurring transfers: . many users opt to split their holdings into several addresses, to increase their positions in the Heap; . as the Heap minimum holding gets higher, buying more SHUF is expected, leading to a double value factor: increased demand + more transfers/burning; . also as the Heap minimum holding gets higher, users that had previously divided their holdings into several addresses will be likely to move their tokens around and concentrate them in fewer wallets (causing further burning). . this dynamics have been tested in V1 and V2, and will most likely happen more and more as the circulating supply gets scarcer.
☑️ Money Players vs Airdrop Nickels: due to the nature of the Air Drop Smart contract (users who already had ETH at the block 8113050 are eligible for 150 SHUF tokens for every ETH that the user held at that time, up to a maximum of 1500 SHUF), most of the users entitled to SHUF Airdrop are most likely into the group of higher buying power (in Crypto terms) and less in the group of small Airdrop Enthusiasts. Many will probably claim and dump, but we expect that many more will find true value in this project and will engage into the SHUF dynamics in the long term.
☑️ At the end of the day, SHUF is just another social experiment, we are as curious as you, as where it will all go...
☑️ For Realtime Prices, Market Stats and Tokenomics data, please use our Shuffle Bot inside our Telegram Group.
🏦 SHUF Exchange Listing:
🦄 Uniswap (Swap) - https://uniswap.exchange/swap/0x3a9fff453d50d4ac52a6890647b823379ba36b9e
🌐 DDEX (DEX) - https://ddex.io/trade/SHUF-WETH
🌐 Bamboorelay (DEX) - https://bamboorelay.com/trade/SHUF-WETH
🔜 (New Exchange Listings Soon)
ℹ️ Frequently Asked Questions:
🔘 Who is eligible for the airdrop? Any user who already had ETH at the block 8113050 is eligible for 150 SHUF tokens for every ETH that the user held at that time.
🔘 Is there any cost? The only cost of claiming SHUF tokens is the gas of the claim transaction. The tokens are distributed for free.
🔘 Is there any minimum amount? No, you can claim even one single wei.
🔘 And is there a maximum amount? The maximum amount of tokens that a single address can claim is 1500 SHUF, equivalent of holding 10 ETH at the block 8113050.
🔘 How many SHUF tokens are there? The total amount of SHUF is one million and is bound to go down.
🔘 What happens if everybody tries to claim its SHUF? After all the 1,010,101 tokens are distributed, the airdrop is finished.
🔘 What is the heap? The heap is the data structure used to track the 512 top holders of the token; you can enter and leave the heap depending on how much balance do you have, and how much have the others.
🔘 What happens if I am in the heap? On every transaction, you are eligible to be the winner of the 1% of the amount transferred.
🔘 What is the SHUF transaction fee? Almost all transfers of SHUF tokens have a surcharge of 2%, half of the amount is going to be burned, and the other half is sent to a winner drawn from the heap.
🔘 What is burning tokens? When tokens are burned, they are no longer part of the total emission of SHUF token, this adds to its scarcity and increases the value of the remaining tokens.
🔘 How is the random winner selected? The address of the sender is used as the seed of the random number generator, and with that unique generator, the index of the winner is obtained. In this manner, we limit the ability of the sender to manipulate who is going to be the winner when they make a transfer.
🔘 What goes to the developer? We keep 6% of the token emission, and we are subject to the same fees as every other user, also we don't have any means to emit or manipulate the circulating tokens.
🔘 Is the project open source? Yes, you can find all the code in our Github repository.
🔘 What was the Project Launch date? 5th of August, 2019
🌐 Resources: Official Site: https://shuffle.monste CoinGecko: https://www.coingecko.com/en/coins/shuffle-monster Bitcoin Talk: https://bitcointalk.org/index.php?topic=5175327.msg52163947 Official Telegram: https://t.me/shuftoken Official Twitter: https://twitter.com/ShuffleToken Official GitHub: https://github.com/Agusx1211/shuffle Etherscan (Token): https://etherscan.io/token/0x3a9fff453d50d4ac52a6890647b823379ba36b9e Etherscan (Contract): https://etherscan.io/address/0x0515023dc5ab2a88713ab5a03011e56ea754ad6f#code
submitted by Shuffle_Monster to ShuffleMonster [link] [comments]

Bitcoin Conversion Rate today - Price Calculator Btc To Inr

Get realtime price btc to inr cad usd euro British Pound aud foreign currencies exchange rate calculator online bitcoin conversion rate today predictions
submitted by farazkhanniazi to u/farazkhanniazi [link] [comments]

Current bitcoin value calculation & conversion of cryptocoins

Realtime btc price prediction in usd live current bitcoin value converter best news about technical analysis exchange rate today tomorrow crypto day trading
submitted by farazkhanniazi to u/farazkhanniazi [link] [comments]

Current bitcoin value calculation & conversion of cryptocoins

Realtime btc price prediction in usd live current bitcoin value converter best news about technical analysis exchange rate today tomorrow crypto day trading
submitted by farazkhanniazi to u/farazkhanniazi [link] [comments]

How Bitwala can take your money away!

"Bitwala is the first blockchain bank account. Get a fully licensed and regulated German current account with cryptocurrency trading features, a debit card, and a built-in Bitcoin wallet. We enable fast, intuitive cryptocurrency trading and the possibility to manage your cryptocurrencies and Euros in one place."

This is what Bitwalare declares but the reality is absolutely different. If you want to know how Bitwala can take away your money, keep them for weeks, make the live hard, and request tons of papers without any reason for this, continue reading below. Not interested - try yourself but be aware of the high risk and harm which so-called bitcoin-friendly "first blockchain bank account" can cause to you!

I registered Bitwala account more than 6 months ago and was glad to be able to deal with an officially licensed bank service that supports bitcoin. I started buying and accumulate some bitcoins there, although the rates are not so tasty but they are also not so bad. To me, it looked like a good price for keeping a part of my investments in a safe place.
Bitwala provides a page, called "Handle", to buy/sell bitcoins in realtime. So, whenever I needed it, I could buy or sell some. Up to the recently, when they started requesting mobile-pin. It's a good thing to have but only if it works as expected. When 4 of 5 SMS comes with a delay like 10 minutes, it means that you can't use the service. Sometimes, even can't log in! So, in the beginning, it was annoying. After the 3d lost opportunity to buy some coins by a very good price because all SMSs were delivered too(!) late, I informed the Support team about the issue. Moreover, I executed the transfer to move my (6K) money away. And you know what, they didn't reach the recipient, neither returned back!
On my request, Bitwala started sending me tons of questions about where I took this money from, how much I earn, why I'm buying Bitcoins, and how familiar I'm with the cryptocurrencies?! (wtf). In the reply, they claimed their bank partner, that those questions are required by it. I had to send my income confirmation, and answer crazy questions, and still, after 10 days, I'm struggling to get my money back!

Why I'm sharing this - to warn the community about the worst "blockchain bank account".
I keep the copies, emailing, etc. So, can prove every word.

P.S. a couple of other stupid questions, allowing for the fact that the mentioned transactions (buying/selling coins) were executed on Bitwala. Are you joking, Bitwala?!
- Please provide supporting documentation regarding the transaction/s (e.g. invoices, contracts, agreements).
- Please provide appropriate supporting documentation establishing the origin of the crypto assets of the below mentioned transaction/s (e.g. trading history, screenshots from exchange platforms, etc.).
submitted by MaksymN to Bitwala [link] [comments]

Realtime koers bitcoin exchange, instant conversion platform

Transfer or exchange bitcoin easily in realtime without any inconvenience, profitable platform is provided by us that can provide you best rates without fee.
submitted by farazkhanniazi to u/farazkhanniazi [link] [comments]

Realtime koers bitcoin exchange, instant conversion platform

Transfer or exchange bitcoin easily in realtime without any inconvenience, profitable platform is provided by us that can provide you best rates without fee.
submitted by farazkhanniazi to u/farazkhanniazi [link] [comments]

r/Bitcoin recap - February 2019

Hi Bitcoiners!
I’m back with the 26th monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
A recap of Bitcoin in February 2019
Adoption * bitcoin can now be used to fund your public transport card in 37 cities in Argentina (7 Feb) * There are as many transactions today as in January 2018 but with all time low fees (7 Feb) * Bitcoin’s Lightning Network currently has 6000 nodes and $2.4M in capacity (9 Feb) * A service that lets you buy Domino’s Pizza via the Lightning Network in the US (13 Feb) * Bitcoin’s average block size is now 1.3MB (14 Feb) * An Argentinian company settles export deal with a client in Paraguay using bitcoin (15 Feb) * The Lightning Network reaches 700 btc in capacity (16 Feb) * A butchery in Kenya accepting bitcoin (17 Feb) * The ₿ symbol is now a listed currency when you long press the $ sign on a mobile keyboard (19 Feb) * A Lightning developer’s node is routing more than $10k per month for a 0.25% fee (19 Feb) * Jack Dorsey, CEO of Twitter and Square, promotes bitcoin tipping on Twitter (20 Feb) * bitcoin transactions near an all-time high of 3.87 transactions per second (21 Feb) * Finanzen.net, a german finance site, starts lising the EUBTC exchange rate (21 Feb) * 20% of Localbitcoins 4.8M visits come from Venezuela (26 Feb) * $52M of bitcoin bought on Cash app in Q4 2018 (27 Feb)
Development * The Casa node has been open-sourced (1 Feb) * A specification for trustless non-pegged sidechains (4 Feb) * Blockstream creates a new Multisignature standard (18 Feb) * BTCPay Server now has payment requests (26 Feb)
Security * A discussion on traditional mixers vs Wasabi wallet (2 Feb) * Another Electrum wallet phishing attempt (4 Feb) * Someone gets scammed for $50 worth in bitcoin by a QR code switch (19 Feb) * Coinomi wallet sends your plain text seed phrase to Google’s remote spellchecker API (27 Feb)
Business * Kraken exchange CEO on the QuadrigaCX coins (3 Feb) * People discuss the bitcoins held by bankrupt QuadrigaCX (4 Feb) * TD Ameritrade is advertising how to invest in Bitcoin on YouTube (10 Feb) * Lightning integration will eventually come to Square’s Cash app according to its CEO (11 Feb) * Samsung’s Galaxy S10 will have secure storage for private keys built in (20 Feb) * A 21-year old couple is working on a hardware wallet (23 Feb)
Research * Bitcoin’s wealth distribution across addresses increased over the past 2 years (13 Feb)
Education * Bitcoin’s prehistory (2 Feb) * People discuss the best real-time bitcoin news feeds (8 Feb) * Someone discusses their small bitcoin mining operation (9 Feb) * A new report on financial privacy from Coin Center (11 Feb) * Andreas Antonopoulos on splicing (25 Feb)
Regulation & Politics * The SEC thinks some cryptocurrency will match their ETF requirements eventually (7 Feb) * Government-mandated asset seizure will be limited in the U.S. (23 Feb)
Archeology (Financial Incumbents) * The British pound is the oldest fiat currency at 317 years and now worth 0.5% of its original value (4 Feb) * JPMorgan Chase incorrectly analyses that bitcoin miners operate at a 16% loss (12 Feb) * JPMorgan Chase launches its own centralized JPM stablecoin (14 Feb) * The IMF comes up with a plan to devalue cash and introduce negative intrest rates (17 Feb) * Venmo’s KYC when someone paid back a sandwich is a great reminder why we need bitcoin (20 Feb)
Price & Trading * Bitcoin passes $4k for the first time in a while (19 Feb)
Fun & Other * A discussion on former Bitcoin developer Mike Hearn (1 Feb) * Twitter CEO Jack Dorsey says he thinks the currency of the Internet will be bitcoin (2 Feb) * Twitter and Square CEO Jack Dorsey passes on the Lightning Torch (5 Feb) * Some instructions on how to send letters using a computer if you think sending bitcoin is difficult (6 Feb) * Why Bitcoin should succeed (7 Feb) * Other technologies that died just like Bitcoin (8 Feb) * Elon Musks compliments cryptocurrency for value transfers (20 Feb) * Elon Musk says whoever owns the early btc deserves a Nobel prize in delayed gratification (21 Feb) * A Lightning-powered chicken feeder (22 Feb) * A Malaysian bookstore with Bitcoin and Blockchain books on top of the finance section (28 Feb)
submitted by SamWouters to Bitcoin [link] [comments]

Bitcoin Price Prediction Today Live History BTC / USD Rate

Btc to usd average exchange rate current value cryptocurrency conversion bitcoin price prediction today in dollar euro live history Realtime updates
submitted by farazkhanniazi to u/farazkhanniazi [link] [comments]

Bitcoin Conversion Rate today - Price Calculator Btc To Inr

Get realtime price btc to inr cad usd euro British Pound aud foreign currencies exchange rate calculator online bitcoin conversion rate today predictions
submitted by farazkhanniazi to u/farazkhanniazi [link] [comments]

Intelligent atomic swaps and decentralized matching in the XCARD wallet

The new era of finance — a Decentralized Finance was born when the bitcoin network mined its first block in 2009. It introduced several nonexisting features before — full transparency, decentralization, none single point of failure, trustless consensus mechanism, and transaction immutability.

XCARD provides ultimate security and instant settlement for each transaction
A kind of crypto fashion that followed has caused a surge of users, creating demand for exchanges. Bitcoin and other cryptocurrencies became popular speculative instruments.
Demands for exchanging the value was more electric than technology development, making current crypto space far from its roots — trading was dominated by centralized exchanges due to the adoption of widely known mechanisms from traditional trading platforms.
Business immaturity combined with centralized custodial hot wallets caused a lot of market anomalies — fake volume creation, price manipulation, hacks and financial losses for all market participants, bringing a lack of trust for newborn phenomena.
The above-mentioned faults caused a desire to return to the roots of blockchain introduced by Satoshi in his white paper. Work has begun on decentralized exchange techniques, the most popular of which are atomic swaps. Introduced in 2013 by Tier Nolan, it started to be popular when Litecoin founder Charlie Lee announced the successful execution of an atomic swap between Litecoin and Bitcoin.
What are Atomic Swaps?
According to the bitcoin wiki, „Atomic Swaps are decentralized and trustless trades between two users of different cryptocurrencies.” If you are interested in technical details, there is plenty of documents explaining the nature of atomic swaps and possible technical implementations (like most popular — Hash-Time-Locks).
Mobilum foundation and its XCARD wallet are built on the idea of entirely decentralized finance. We want to bring a solution that does not compromise customers’ funds’ security and follows our (almost) zero fees criterion. We decided to implement Mobilum as a decentralized multichain solution working in internalizing (also) mode. We use the technology of atomic swaps, which we call „intelligent atomic swaps” because of two reasons:
First, we try to maximize the liquidity of the market by playing an active role in market making currencies on our platform. It is done by our arbitration mechanism (supported by the pricing engine) which gathers in (almost) realtime data from different liquidity providers and compares with the decentralized order book on our exchange. The arbitration mechanism tries to maximize the order matching by providing a counterparty for orders which can not be matched between XCARD users, leveraging external liquidity and XCARD liquidity pools.
Second, we want to earn profits playing actively on external liquidity brokering, minimizing costs for our users to network costs only, not affecting our profitability.
How does the Atomic Swap work in general?
Let’s say you want to exchange your Bitcoins for Litecoins with a stranger. You agree with the exchange rate, but there is a problem who sends the funds first and if you receive funds in exchange.
So you both agree to participate in Atomic Swap of Bitcoins to Litecoins. You create a special wallet (a Hash Time Lock smart contract) and move your Bitcoins for swap there, so they can be publicly inspected by the second party. Then you send a special hash (lock) to the second party, who also creates a smart contract (HTLC) using the same hash and moves his Litecoins there for your inspection. Both funds can be released using the same key you hold, but by releasing Litecoins you disclose the key so your counterparty may use it to release Bitcoins. If something is not correct (number of Bitcoins or Litecoins in those contracts) you do not disclose the key and both expire — there is no transaction. That is the big picture.
How does the Intelligent Atomic Swap work in XCARD on the Mobilum Platform?
In general atomic swaps have some limitations. Both contracts need to use the same hash algorithm, both need to implement specific smart contracts. That limits its usage to supported coins only. Another limitation is a price negotiation between parties.
In XCARD we try to avoid those limitations by implementing an XCARD originator which is a kind of smart contract notary, that holds an order book of parties willing to exchange their coins and accepted price range. The notary contract works similarly to a matching engine, when buy order matches a sell order it creates two contracts for atomic swaps for each party of the transaction. There is a defined period for each party to move a specified amount of coins for a swap to that address. When both parties move coins a swap is being made by the smart contract. If not, the atomic swap expires. The smart contract notary checks also a membership requirement of each party (just to remind, each party is required to hold 0,5% of the transaction value in MBM Token). If any of the parties do not meet the membership requirement, a smart contract notary may refill it if agreed by the party.
Why we call our atomic swaps “intelligent”?
Our smart contract notary has an algorithm that tries to match maximum orders volume having in mind parties constraints in terms of agreed swap price. To do so, it connects with our pricing engine and virtual order book to examine the best price on the market.
XCARD animates supported currencies using XCARD liquidity pools by providing a second party to the transaction that can not be matched by the platform users when it fits its pricing algorithm. Smart contract notary algorithm polls the XCARD animator service each time it uses a price engine to check whether a particular swap should be done internally (between XCARD users) or involve the XCARD liquidity pool.
Both parties may request XCARD liquidity involvement in case of a private transaction requirement. In such a case, XCARD uses its mixer functionality, which hides exact volumes and destinations of transfers (more information will be provided in another article).
Atomic swaps have a significant impact on cryptocurrencies and their holders. It gives light on bringing its “currency” nature as it allows trustless exchange and acceptance. We, XCARD are committed to providing the best available secure and decentralized environment for our customers.
What next?
We are currently working on a technical paper which describes given functionality in detail. The article will be published within a month.
https://xcard.io/
submitted by 67vader to xcardbymobilum [link] [comments]

Detailed explanation of BitMEX pending order strategy

article originally from FMZ.COM ( A place you can create your own trading bot by Python, JavaScript and C++) https://www.fmz.com/bbs-topic/2710
BitMEX has become the platform of choice for cryptocurrency leverage trading, but its API trading restrictions are strict and make automatic traders feeling very confused. This article mainly shares some tips on the use of APIs in the FMZ quantitative trading platform, mainly for the market making strategy.

1. Features of BitMEX

The most significant advantage is that the trading liquidity is very active, especially the Bitcoin perpetual contract, the transaction amount per minute often exceeds one million or even ten million US dollars; BitMEX pending orders trading have the policy of return commission fee, although it is not much, but attracted a large number of market making tradings, which made the price depth very rich. the latest buying and selling price often have more than one million dollars worth pending orders; because of this point, the transaction price often fluctuates around the minimum change unit of $0.50.

2.BitMEX API frequency limit

The request frequency of the REST API is limited to 300 times every 5 minutes, almost equal to 1 time every second, this limit can be said to be very strict compared to other trading platforms. After the limit is exceeded, 'Rate limit exceeded' will be prompted. If you keep exceeding the limit, the IP may be disabled for one hour. Multiple disables in a short time will result in a week being disabled. For each API request, BitMEX will return the header data, header data is used to see the current number of remaining requests. In fact, if the API is used properly, it will not exceed the frequency limit and generally does not need to be checked.

3.Use websocket to get the market quote

The BitMEX REST API is more restrictive. The official recommendation is to use the websocket protocol more, and push more data types than the average exchange. Pay attention to the following points for specific use:
If the depth data push time is too long, there will be an error, which does not correspond to the real depth. It is estimated that there are too many depth changes and there are omissions in the push, but in general, due to excellent fluidity, you can subscribe to "ticker" or "trades". The order details push is missing a lot and is almost unavailable. There is a significant delay in the push of account information, preferably using the REST API. When the market is volatile too big, the push delay will reach a few seconds. The following code uses the websocket protocol to obtain market and account information in real time, mainly for market-making strategies. The specific use needs to be performed in the main() function.
var ticker = {price:0, buy:0, sell:0, time:0} //Ticker information, the latest price, "buy one" price, "sell one" price, update time //Account information, respectively, position, buying and selling price, buying and selling quantity, position status, order Id var info = {position:0, buyPrice:0, sellPrice:0, buyAmount:0, sellAmount:0, buyState:0, sellState:0, buyId:0, sellId:0} var buyListId = []//Global variables, pre-emptive buying id list, will described below var sellListId = [] var APIKEY = 'your api id' //Need to fill in the BitMEX API ID here. Note that it is not a key, which is required for websocket protocol authentication. var expires = parseInt(Date.now() / 1000) + 10 var signature = exchange.HMAC("sha256", "hex", "GET/realtime" + expires, "{{secretkey}}")//The secretkey will be automatically replaced at the bottom level and does not need to be filled in. var bitmexClient = Dial("wss://www.bitmex.com/realtime", 60) var auth = JSON.stringify({args: [APIKEY, expires, signature], op: "authKeyExpires"})//Authentication information, otherwise you cannot subscribe to the account bitmexClient.write(auth) bitmexClient.write('{"op": "subscribe", "args": ["position","execution","trade:XBTUSD"]}')//Subscribed to positions, order execution and perpetual contract real-time transaction while(true){ var data = bitmexClient.read() if(data){ bitmexData = JSON.parse(data) if('table' in bitmexData && bitmexData.table == 'trade'){ data = bitmexData.data ticker.price = parseFloat(data[data.length-1].price)//The latest transaction price, will push multiple transactions at a time, take one will be ok //You can get the "buy one" and "sell one" price according to the direction of the latest transaction, without subscribing to the depth. if(data[data.length-1].side == 'Buy'){ ticker.sell = parseFloat(data[data.length-1].price) ticker.buy = parseFloat(data[data.length-1].price)-0.5 }else{ ticker.buy = parseFloat(data[data.length-1].price) ticker.sell = parseFloat(data[data.length-1].price)+0.5 } ticker.time = new Date(data[data.length-1].timestamp);//Update time, can be used to determine the delay } }else if(bitmexData.table == 'position'){ var position = parseInt(bitmexData.data[0].currentQty) if(position != info.position){ Log('Position change: ', position, info.position, '#[email protected]')//Position change Log, and pushed to WeChat, remove @ means Do not push info.position = position } info.position = parseInt(bitmexData.data[0].currentQty) } }

4. Placing order skills

BitMEX officially recommends using "bulk ordering" and "order modification" to place order. "bulk ordering" can be executed faster due to BitMEX real-time auditing, risk checking, margin calculation, and commissioning. Therefore, the frequency of the "bulk ordering" is calculated as one tenth of the normal frequency. Futhermore, our order operation should use the method of "bulk ordering" and "order modification" to minimize the use of API. The query order status also needs to consume the API using frequency. It can judge the order status according to the position change or modification order failure.
"bulk ordering" does not limit the order quantity (can't be too much), in fact, a single order can also use the "bulk ordering" interface. Due to the operation of modifying the order, we can "pre-order" some orders where the price deviates greatly, these orders will not be executed, but when we need to place an order, we only need to modify the price and quantity of the placed order. when modifying the order occurs failure, it can also be used as a signal for the order to be executed.
The following is the specific implementation code:
// Cancel all orders and reset global variables function cancelAll(){ exchange.IO("api","DELETE","/api/v1/ordeall","symbol=XBTUSD")//Call IO extension revocation info = {position:0, buyPrice:0, sellPrice:0, buyAmount:0, sellAmount:0, buyState:0, sellState:0, buyId:0, sellId:0} buyListId = [] sellListId = [] } //placing alternate order function waitOrders(){ var orders = [] if(buyListId.length<4){ //When the number of inspections is insufficient, place another "bulk" for(var i=0;i<7;i++){ //Due to BitMEX restrictions, the price can not be excessively excessive, the order quantity can not be too small, and the "execInst" parameter guarantees that only the market making transaction can be executed. orders.push({symbol:'XBTUSD', side:'Buy', orderQty:100, price:ticker.buy-400+i, execInst:'ParticipateDoNotInitiate'}) } } if(sellListId.length<4){ for(var i=0;i<7;i++){ orders.push({symbol:'XBTUSD', side:'Sell', orderQty:100, price:ticker.buy+400+i, execInst:'ParticipateDoNotInitiate'}) } } if(orders.length>0){ var param = "orders=" + JSON.stringify(orders); var ids = exchange.IO("api", "POST", "/api/v1/ordebulk", param);//Bulk orders submitted here for(var i=0;i0){ info.position = pos[0].Type == 0 ? pos[0].Amount : -pos[0].Amount }else{ info.position = 0 } } //Unknown error cannot be modified, all orders are cancelled, reset once else if(err.includes('Invalid orderID')){ cancelAll() Log('Invalid orderID,reset once') } //Exceed the frequency limit, you can continue to try after hibernation else if(err.includes('Rate limit exceeded')){ Sleep(2000) return } //The account is banned, all orders are revoked, and sleep is awaiting recovery for a long time. else if(err.includes('403 Forbidden')){ cancelAll() Log('403,reset once') Sleep(5*60*1000) } }else{ //Modify order successfully if(direction == 'buy'){ info.buyState = 1 info.buyPrice = price info.buyAmount = amount }else{ info.sellState = 1 info.sellPrice = price info.sellAmount = amount } } } //0.5 price change function fixSize(num){ if(num>=_N(num,0)+0.75){ num = _N(num,0)+1 }else if(num>=_N(num,0)+0.5){ num=_N(num,0)+0.5 }else{ num=_N(num,0) } return num } //Trading function function trade(){ waitOrders()//Check if you need a replacement order var buyPrice = fixSize(ticker.buy-5) //For demonstration purposes only, specific transactions should be written by yourself. var sellPrice = fixSize(ticker.sell+5) var buyAmount = 500 var sellAmount = 500 //Modify from an alternate order when there is no order if(info.buyState == 0 && buyListId.length > 0){ info.buyId = buyListId.shift() amendOrders([{orderID:info.buyId, price:buyPrice, orderQty:buyAmount}],'buy', group, buyPrice, buyAmount, info.buyId) } if(info.sellState == 0 && sellListId.length > 0){ info.sellId = sellListId.shift() amendOrders([{orderID: info.sellId, price:sellPrice, orderQty:sellAmount}],'sell', group, sellPrice, sellAmount, info.sellId ) } //Existing orders need to change price if(buyPrice != info.buyPrice && info.buyState == 1){ amendOrders([{orderID:info.buyId, price:buyPrice, orderQty:buyAmount}],'buy', group, buyPrice, buyAmount) } if(sellPrice != info.sellPrice && info.sellState == 1){ amendOrders([{orderID:info.sellId, price:sellPrice, orderQty:sellAmount}],'sell', group, sellPrice, sellAmount) } }

5. Others

BitMEX's server is in the Amazon's server in Dublin, Ireland. The server running strategy ping is less than 1ms when you choose a AWS cloud sever in Dublin, but when there is still a delay in pushing, the overload problem cannot be solved. In addition, when the account is logged in, the server agent cannot be located in the United States and other places where don't allow cryptocurrency tradings. Due to the regulation, the account will be banned.
The code in this article has been modified from my personal strategy and is not guaranteed to be completely correct for reference. The specific use of the market code should be executed in the main function, the trading-related code is placed before the main function, and the trade() function is placed in the push market quote.
article originally from FMZ.COM ( A place you can create your own trading bot by Python, JavaScript and C++) https://www.fmz.com/bbs-topic/2710
submitted by FmzQuant to BitMEX [link] [comments]

Detailed explanation of BitMEX pending order strategy

article originally from FMZ.COM ( A place you can create your own trading bot by Python, JavaScript and C++)
BitMEX has become the platform of choice for cryptocurrency leverage trading, but its API trading restrictions are strict and make automatic traders feeling very confused. This article mainly shares some tips on the use of APIs in the FMZ quantitative trading platform, mainly for the market making strategy.

1. Features of BitMEX

The most significant advantage is that the trading liquidity is very active, especially the Bitcoin perpetual contract, the transaction amount per minute often exceeds one million or even ten million US dollars; BitMEX pending orders trading have the policy of return commission fee, although it is not much, but attracted a large number of market making tradings, which made the price depth very rich. the latest buying and selling price often have more than one million dollars worth pending orders; because of this point, the transaction price often fluctuates around the minimum change unit of $0.50.

2.BitMEX API frequency limit

The request frequency of the REST API is limited to 300 times every 5 minutes, almost equal to 1 time every second, this limit can be said to be very strict compared to other trading platforms. After the limit is exceeded, 'Rate limit exceeded' will be prompted. If you keep exceeding the limit, the IP may be disabled for one hour. Multiple disables in a short time will result in a week being disabled. For each API request, BitMEX will return the header data, header data is used to see the current number of remaining requests. In fact, if the API is used properly, it will not exceed the frequency limit and generally does not need to be checked.

3.Use websocket to get the market quote

The BitMEX REST API is more restrictive. The official recommendation is to use the websocket protocol more, and push more data types than the average exchange. Pay attention to the following points for specific use:
If the depth data push time is too long, there will be an error, which does not correspond to the real depth. It is estimated that there are too many depth changes and there are omissions in the push, but in general, due to excellent fluidity, you can subscribe to "ticker" or "trades". The order details push is missing a lot and is almost unavailable. There is a significant delay in the push of account information, preferably using the REST API. When the market is volatile too big, the push delay will reach a few seconds. The following code uses the websocket protocol to obtain market and account information in real time, mainly for market-making strategies. The specific use needs to be performed in the main() function.
var ticker = {price:0, buy:0, sell:0, time:0} //Ticker information, the latest price, "buy one" price, "sell one" price, update time //Account information, respectively, position, buying and selling price, buying and selling quantity, position status, order Id var info = {position:0, buyPrice:0, sellPrice:0, buyAmount:0, sellAmount:0, buyState:0, sellState:0, buyId:0, sellId:0} var buyListId = []//Global variables, pre-emptive buying id list, will described below var sellListId = [] var APIKEY = 'your api id' //Need to fill in the BitMEX API ID here. Note that it is not a key, which is required for websocket protocol authentication. var expires = parseInt(Date.now() / 1000) + 10 var signature = exchange.HMAC("sha256", "hex", "GET/realtime" + expires, "{{secretkey}}")//The secretkey will be automatically replaced at the bottom level and does not need to be filled in. var bitmexClient = Dial("wss://www.bitmex.com/realtime", 60) var auth = JSON.stringify({args: [APIKEY, expires, signature], op: "authKeyExpires"})//Authentication information, otherwise you cannot subscribe to the account bitmexClient.write(auth) bitmexClient.write('{"op": "subscribe", "args": ["position","execution","trade:XBTUSD"]}')//Subscribed to positions, order execution and perpetual contract real-time transaction while(true){ var data = bitmexClient.read() if(data){ bitmexData = JSON.parse(data) if('table' in bitmexData && bitmexData.table == 'trade'){ data = bitmexData.data ticker.price = parseFloat(data[data.length-1].price)//The latest transaction price, will push multiple transactions at a time, take one will be ok //You can get the "buy one" and "sell one" price according to the direction of the latest transaction, without subscribing to the depth. if(data[data.length-1].side == 'Buy'){ ticker.sell = parseFloat(data[data.length-1].price) ticker.buy = parseFloat(data[data.length-1].price)-0.5 }else{ ticker.buy = parseFloat(data[data.length-1].price) ticker.sell = parseFloat(data[data.length-1].price)+0.5 } ticker.time = new Date(data[data.length-1].timestamp);//Update time, can be used to determine the delay } }else if(bitmexData.table == 'position'){ var position = parseInt(bitmexData.data[0].currentQty) if(position != info.position){ Log('Position change: ', position, info.position, '#[email protected]')//Position change Log, and pushed to WeChat, remove @ means Do not push info.position = position } info.position = parseInt(bitmexData.data[0].currentQty) } }

4. Placing order skills

BitMEX officially recommends using "bulk ordering" and "order modification" to place order. "bulk ordering" can be executed faster due to BitMEX real-time auditing, risk checking, margin calculation, and commissioning. Therefore, the frequency of the "bulk ordering" is calculated as one tenth of the normal frequency. Futhermore, our order operation should use the method of "bulk ordering" and "order modification" to minimize the use of API. The query order status also needs to consume the API using frequency. It can judge the order status according to the position change or modification order failure.
"bulk ordering" does not limit the order quantity (can't be too much), in fact, a single order can also use the "bulk ordering" interface. Due to the operation of modifying the order, we can "pre-order" some orders where the price deviates greatly, these orders will not be executed, but when we need to place an order, we only need to modify the price and quantity of the placed order. when modifying the order occurs failure, it can also be used as a signal for the order to be executed.
The following is the specific implementation code:
// Cancel all orders and reset global variables function cancelAll(){ exchange.IO("api","DELETE","/api/v1/ordeall","symbol=XBTUSD")//Call IO extension revocation info = {position:0, buyPrice:0, sellPrice:0, buyAmount:0, sellAmount:0, buyState:0, sellState:0, buyId:0, sellId:0} buyListId = [] sellListId = [] } //placing alternate order function waitOrders(){ var orders = [] if(buyListId.length<4){ //When the number of inspections is insufficient, place another "bulk" for(var i=0;i<7;i++){ //Due to BitMEX restrictions, the price can not be excessively excessive, the order quantity can not be too small, and the "execInst" parameter guarantees that only the market making transaction can be executed. orders.push({symbol:'XBTUSD', side:'Buy', orderQty:100, price:ticker.buy-400+i, execInst:'ParticipateDoNotInitiate'}) } } if(sellListId.length<4){ for(var i=0;i<7;i++){ orders.push({symbol:'XBTUSD', side:'Sell', orderQty:100, price:ticker.buy+400+i, execInst:'ParticipateDoNotInitiate'}) } } if(orders.length>0){ var param = "orders=" + JSON.stringify(orders); var ids = exchange.IO("api", "POST", "/api/v1/ordebulk", param);//Bulk orders submitted here for(var i=0;i0){ info.position = pos[0].Type == 0 ? pos[0].Amount : -pos[0].Amount }else{ info.position = 0 } } //Unknown error cannot be modified, all orders are cancelled, reset once else if(err.includes('Invalid orderID')){ cancelAll() Log('Invalid orderID,reset once') } //Exceed the frequency limit, you can continue to try after hibernation else if(err.includes('Rate limit exceeded')){ Sleep(2000) return } //The account is banned, all orders are revoked, and sleep is awaiting recovery for a long time. else if(err.includes('403 Forbidden')){ cancelAll() Log('403,reset once') Sleep(5*60*1000) } }else{ //Modify order successfully if(direction == 'buy'){ info.buyState = 1 info.buyPrice = price info.buyAmount = amount }else{ info.sellState = 1 info.sellPrice = price info.sellAmount = amount } } } //0.5 price change function fixSize(num){ if(num>=_N(num,0)+0.75){ num = _N(num,0)+1 }else if(num>=_N(num,0)+0.5){ num=_N(num,0)+0.5 }else{ num=_N(num,0) } return num } //Trading function function trade(){ waitOrders()//Check if you need a replacement order var buyPrice = fixSize(ticker.buy-5) //For demonstration purposes only, specific transactions should be written by yourself. var sellPrice = fixSize(ticker.sell+5) var buyAmount = 500 var sellAmount = 500 //Modify from an alternate order when there is no order if(info.buyState == 0 && buyListId.length > 0){ info.buyId = buyListId.shift() amendOrders([{orderID:info.buyId, price:buyPrice, orderQty:buyAmount}],'buy', group, buyPrice, buyAmount, info.buyId) } if(info.sellState == 0 && sellListId.length > 0){ info.sellId = sellListId.shift() amendOrders([{orderID: info.sellId, price:sellPrice, orderQty:sellAmount}],'sell', group, sellPrice, sellAmount, info.sellId ) } //Existing orders need to change price if(buyPrice != info.buyPrice && info.buyState == 1){ amendOrders([{orderID:info.buyId, price:buyPrice, orderQty:buyAmount}],'buy', group, buyPrice, buyAmount) } if(sellPrice != info.sellPrice && info.sellState == 1){ amendOrders([{orderID:info.sellId, price:sellPrice, orderQty:sellAmount}],'sell', group, sellPrice, sellAmount) } }

5. Others

BitMEX's server is in the Amazon's server in Dublin, Ireland. The server running strategy ping is less than 1ms when you choose a AWS cloud sever in Dublin, but when there is still a delay in pushing, the overload problem cannot be solved. In addition, when the account is logged in, the server agent cannot be located in the United States and other places where don't allow cryptocurrency tradings. Due to the regulation, the account will be banned.
The code in this article has been modified from my personal strategy and is not guaranteed to be completely correct for reference. The specific use of the market code should be executed in the main function, the trading-related code is placed before the main function, and the trade() function is placed in the push market quote.
article originally from FMZ.COM ( A place you can create your own trading bot by Python, JavaScript and C++)
submitted by FmzQuant to CryptoCurrencyTrading [link] [comments]

Coin Assets (Crypto Portfolio App)

Coin Assets

Hi all!
I finally released my application - https://steemit.com/app/@zorgeandroid-portfolio-assets-app, it is already available completely for free! I plan to release the source code of the application (on GitHub) so that the community of bitcoins enthusiasts can develop it. I would be happy if someone wants to join the development.
Get it on Google Play
App is Free, no ADS. If you interested, you can Join Beta via Google Play. I will be glad if you try and leave a review! I hope the application will suit you!

Screenshots:

screenshots 1
screenshots 2
screenshots 3
screenshots 4

The main functions I wanted to implement were:

List of current Source / Exchange:

More screenshots:

screenshots 5
screenshots 6
screenshots 7
screenshots 8
screenshots 9
submitted by Zorge_R to androidapps [link] [comments]

Detailed explanation of BitMEX pending order strategy

BitMEX has become the platform of choice for cryptocurrency leverage trading, but its API trading restrictions are strict and make automatic traders feeling very confused. This article mainly shares some tips on the use of APIs in the FMZ quantitative trading platform, mainly for the market making strategy.

1. Features of BitMEX

The most significant advantage is that the trading liquidity is very active, especially the Bitcoin perpetual contract, the transaction amount per minute often exceeds one million or even ten million US dollars; BitMEX pending orders trading have the policy of return commission fee, although it is not much, but attracted a large number of market making tradings, which made the price depth very rich. the latest buying and selling price often have more than one million dollars worth pending orders; because of this point, the transaction price often fluctuates around the minimum change unit of $0.50.

2.BitMEX API frequency limit

The request frequency of the REST API is limited to 300 times every 5 minutes, almost equal to 1 time every second, this limit can be said to be very strict compared to other trading platforms. After the limit is exceeded, 'Rate limit exceeded' will be prompted. If you keep exceeding the limit, the IP may be disabled for one hour. Multiple disables in a short time will result in a week being disabled. For each API request, BitMEX will return the header data, header data is used to see the current number of remaining requests. In fact, if the API is used properly, it will not exceed the frequency limit and generally does not need to be checked.

3.Use websocket to get the market quote

The BitMEX REST API is more restrictive. The official recommendation is to use the websocket protocol more, and push more data types than the average exchange. Pay attention to the following points for specific use:
If the depth data push time is too long, there will be an error, which does not correspond to the real depth. It is estimated that there are too many depth changes and there are omissions in the push, but in general, due to excellent fluidity, you can subscribe to "ticker" or "trades". The order details push is missing a lot and is almost unavailable. There is a significant delay in the push of account information, preferably using the REST API. When the market is volatile too big, the push delay will reach a few seconds. The following code uses the websocket protocol to obtain market and account information in real time, mainly for market-making strategies. The specific use needs to be performed in the main() function.
var ticker = {price:0, buy:0, sell:0, time:0} //Ticker information, the latest price, "buy one" price, "sell one" price, update time //Account information, respectively, position, buying and selling price, buying and selling quantity, position status, order Id var info = {position:0, buyPrice:0, sellPrice:0, buyAmount:0, sellAmount:0, buyState:0, sellState:0, buyId:0, sellId:0} var buyListId = []//Global variables, pre-emptive buying id list, will described below var sellListId = [] var APIKEY = 'your api id' //Need to fill in the BitMEX API ID here. Note that it is not a key, which is required for websocket protocol authentication. var expires = parseInt(Date.now() / 1000) + 10 var signature = exchange.HMAC("sha256", "hex", "GET/realtime" + expires, "{{secretkey}}")//The secretkey will be automatically replaced at the bottom level and does not need to be filled in. var bitmexClient = Dial("wss://www.bitmex.com/realtime", 60) var auth = JSON.stringify({args: [APIKEY, expires, signature], op: "authKeyExpires"})//Authentication information, otherwise you cannot subscribe to the account bitmexClient.write(auth) bitmexClient.write('{"op": "subscribe", "args": ["position","execution","trade:XBTUSD"]}')//Subscribed to positions, order execution and perpetual contract real-time transaction while(true){ var data = bitmexClient.read() if(data){ bitmexData = JSON.parse(data) if('table' in bitmexData && bitmexData.table == 'trade'){ data = bitmexData.data ticker.price = parseFloat(data[data.length-1].price)//The latest transaction price, will push multiple transactions at a time, take one will be ok //You can get the "buy one" and "sell one" price according to the direction of the latest transaction, without subscribing to the depth. if(data[data.length-1].side == 'Buy'){ ticker.sell = parseFloat(data[data.length-1].price) ticker.buy = parseFloat(data[data.length-1].price)-0.5 }else{ ticker.buy = parseFloat(data[data.length-1].price) ticker.sell = parseFloat(data[data.length-1].price)+0.5 } ticker.time = new Date(data[data.length-1].timestamp);//Update time, can be used to determine the delay } }else if(bitmexData.table == 'position'){ var position = parseInt(bitmexData.data[0].currentQty) if(position != info.position){ Log('Position change: ', position, info.position, '#[email protected]')//Position change Log, and pushed to WeChat, remove @ means Do not push info.position = position } info.position = parseInt(bitmexData.data[0].currentQty) } }

4. Placing order skills

BitMEX officially recommends using "bulk ordering" and "order modification" to place order. "bulk ordering" can be executed faster due to BitMEX real-time auditing, risk checking, margin calculation, and commissioning. Therefore, the frequency of the "bulk ordering" is calculated as one tenth of the normal frequency. Futhermore, our order operation should use the method of "bulk ordering" and "order modification" to minimize the use of API. The query order status also needs to consume the API using frequency. It can judge the order status according to the position change or modification order failure.
"bulk ordering" does not limit the order quantity (can't be too much), in fact, a single order can also use the "bulk ordering" interface. Due to the operation of modifying the order, we can "pre-order" some orders where the price deviates greatly, these orders will not be executed, but when we need to place an order, we only need to modify the price and quantity of the placed order. when modifying the order occurs failure, it can also be used as a signal for the order to be executed.
The following is the specific implementation code:
// Cancel all orders and reset global variables function cancelAll(){ exchange.IO("api","DELETE","/api/v1/ordeall","symbol=XBTUSD")//Call IO extension revocation info = {position:0, buyPrice:0, sellPrice:0, buyAmount:0, sellAmount:0, buyState:0, sellState:0, buyId:0, sellId:0} buyListId = [] sellListId = [] } //placing alternate order function waitOrders(){ var orders = [] if(buyListId.length<4){ //When the number of inspections is insufficient, place another "bulk" for(var i=0;i<7;i++){ //Due to BitMEX restrictions, the price can not be excessively excessive, the order quantity can not be too small, and the "execInst" parameter guarantees that only the market making transaction can be executed. orders.push({symbol:'XBTUSD', side:'Buy', orderQty:100, price:ticker.buy-400+i, execInst:'ParticipateDoNotInitiate'}) } } if(sellListId.length<4){ for(var i=0;i<7;i++){ orders.push({symbol:'XBTUSD', side:'Sell', orderQty:100, price:ticker.buy+400+i, execInst:'ParticipateDoNotInitiate'}) } } if(orders.length>0){ var param = "orders=" + JSON.stringify(orders); var ids = exchange.IO("api", "POST", "/api/v1/ordebulk", param);//Bulk orders submitted here for(var i=0;i0){ info.position = pos[0].Type == 0 ? pos[0].Amount : -pos[0].Amount }else{ info.position = 0 } } //Unknown error cannot be modified, all orders are cancelled, reset once else if(err.includes('Invalid orderID')){ cancelAll() Log('Invalid orderID,reset once') } //Exceed the frequency limit, you can continue to try after hibernation else if(err.includes('Rate limit exceeded')){ Sleep(2000) return } //The account is banned, all orders are revoked, and sleep is awaiting recovery for a long time. else if(err.includes('403 Forbidden')){ cancelAll() Log('403,reset once') Sleep(5*60*1000) } }else{ //Modify order successfully if(direction == 'buy'){ info.buyState = 1 info.buyPrice = price info.buyAmount = amount }else{ info.sellState = 1 info.sellPrice = price info.sellAmount = amount } } } //0.5 price change function fixSize(num){ if(num>=_N(num,0)+0.75){ num = _N(num,0)+1 }else if(num>=_N(num,0)+0.5){ num=_N(num,0)+0.5 }else{ num=_N(num,0) } return num } //Trading function function trade(){ waitOrders()//Check if you need a replacement order var buyPrice = fixSize(ticker.buy-5) //For demonstration purposes only, specific transactions should be written by yourself. var sellPrice = fixSize(ticker.sell+5) var buyAmount = 500 var sellAmount = 500 //Modify from an alternate order when there is no order if(info.buyState == 0 && buyListId.length > 0){ info.buyId = buyListId.shift() amendOrders([{orderID:info.buyId, price:buyPrice, orderQty:buyAmount}],'buy', group, buyPrice, buyAmount, info.buyId) } if(info.sellState == 0 && sellListId.length > 0){ info.sellId = sellListId.shift() amendOrders([{orderID: info.sellId, price:sellPrice, orderQty:sellAmount}],'sell', group, sellPrice, sellAmount, info.sellId ) } //Existing orders need to change price if(buyPrice != info.buyPrice && info.buyState == 1){ amendOrders([{orderID:info.buyId, price:buyPrice, orderQty:buyAmount}],'buy', group, buyPrice, buyAmount) } if(sellPrice != info.sellPrice && info.sellState == 1){ amendOrders([{orderID:info.sellId, price:sellPrice, orderQty:sellAmount}],'sell', group, sellPrice, sellAmount) } }

5. Others

BitMEX's server is in the Amazon's server in Dublin, Ireland. The server running strategy ping is less than 1ms when you choose a AWS cloud sever in Dublin, but when there is still a delay in pushing, the overload problem cannot be solved. In addition, when the account is logged in, the server agent cannot be located in the United States and other places where don't allow cryptocurrency tradings. Due to the regulation, the account will be banned.
The code in this article has been modified from my personal strategy and is not guaranteed to be completely correct for reference. The specific use of the market code should be executed in the main function, the trading-related code is placed before the main function, and the trade() function is placed in the push market quote.
submitted by FmzQuant to CryptoCurrencies [link] [comments]

My Prediction (not to be confused with my preference): We'll have THREE Bitcoins end of 2017 (one does not have to be a prophet to predict this)

As it looks like, we'll for sure have two Bitcoins on 1st Aug 2017:
In November, the BTC will split in two:
This November date will turn out, in the history books, to be the more critical date.
My assumption is that businesses and the eco-system as a whole will gather around "Bitcoin SegWit 2MB" as the pragmatic way forward, while there will be two corner chains around this center: BCC and 1MB chain.
My assumption is that Exchanges will list
Market cap will probably be around 10%:80%:10%.
Why I am so certain about the three chains (forks)? Well:
Do I like these prospects? Of course not, but since Bitcoin is a highly ideological and political playing field, stemming from different ideals, views, and visions, maybe three chains is the only solution to cause long-term stability. Maybe the existence of the two small chains at the edges will create pressure on the main (middle) chain to stay decentralized (otherwise BCS takes over) and to provide enough capacity on-chain (otherwise BCC takes over), thereby causing a regulating balance. Maybe this is what Bitcoin needs, like stable democracies need agile and awake oppositions left and right from a powerful government.
submitted by Amichateur to Bitcoin [link] [comments]

[ANN] Developer Announcements - May 2018

All messages are taken from the official Linx Slack and Twitter with permission of the developer to share here
Previous threads:
[ANN] Developer Announcements - August 2017 [ANN] Developer Announcements - September 2017 [ANN] Developer Announcements - October 2017 [ANN] Developer Announcements - November 2017 [ANN] Developer Announcements - December 2017 [ANN] Developer Announcements - January 2018 [ANN] Developer Announcements - February 2018 [ANN] Developer Announcements - March 2018
May 1
Dev: Hi guys, we hope that you are all well. Please find our May update below.
https://mylinx.io/news/may-2018-update/ May Update:
Payment Integration: Unfortunately we have to announce that our first scheduled Linx payment retail integration has been delayed. Of course this comes as a disappointment for us as we're sure it does to you too. We have uploaded a press release from Traxsource below explaining the situation. Here is a transcription :
April 30th, 2018
Due to the increased work load involved in our ongoing store upgrades we are not in a position to integrate the Linx payment system on May 1st as planned.
We are extremely disappointed to announce this news, as both sides have put so much time & effort into making this happen. It goes without saying that we will continue to offer our full support to the Linx project & the team behind it. We hope to be able to bring this project to fruition at a later date.
Sincerely,
Brian Tappert Traxsource Managing Director
The platform : As you will no doubt be aware recent guidelines and regulations in the protection and handling of personal data is changing the way web based platforms operate. API access to some of the biggest social networks is now being restricted among other things and this has caused us to rethink a few major aspects of our own platform.
Although we firmly believe the new data regulations are a great thing for end users, it has also resulted in changes to some of the features that were originally incorporated . Our original schedule for the roll out of the platform was in stages. First we would introduce a fully functional baseline system and then start adding more features over time. After much discussion, we have now agreed that we need to deliver a much more ambitious platform from the get go. One additional aspect of the resdesigned platform is that we will now be including an audio upload and streaming service which will allow artists and musicians to showcase and sell their music directly (using Linx of course) from their profile page.
We are very close to completion and will notify beta testers as soon as we comfortable with the new model so you can put it through it's paces before release.
Block halving : Welcome news for long term holders is that in around 36 days the Linx block reward halves for the first time since our blockchain launched. This will reduce the block reward from 50 to 25 Linx, dramatically slowing down the amount of freshly minted Linx released every day. You can monitor the countdown to halving at the following page : https://mylinx.io/halving
Source and Wallets : The team is currently working on a completely updated version of the Linx source code which implements many of the latest developments in blockchain tech. iOS and Droid wallets will follow the release of the new source. As we're sure most of you are already aware, Linx wallet support is already available for iOS and Android in the excellent Coinomi app : https://coinomi.com
Lastly, although the unexpected delay in our first retail integration was not the news we’d hoped to deliver to you today, we hope that finally knowing who the retailer is will go some way to easing any concerns you may have had about the validity of the Linx project or the abilities of our team. Although we have had to adjust the schedule of our roadmap our goals for Linx remain unchanged. There is a ton of exciting things happening behind the scenes but we remain reluctant to speak about them until they are ready to be realized. In light of the current situation we hope that you will understand the reasoning behind our position on this. For those that are uncomfortable not knowing what's coming, we totally understand and trust you will use your best judgement with regards to any Linx holdings you may have.
If you have any questions about anything ask away and we'll do our best to address them where possible here in the slack channel.
Team Linx
May 2
Dev: Hi guys, before we address your questions we just want to say that the reactions to the news yesterday from the community both in here, on Telegram and on Twitter has left us somewhat deflated. We knew the delay wasn't going to be well received but we hoped that you would see that the delay was not of our making, and see the positives in revealing the name of our partner and also realise that we have been completely straight with you from the start. Instead we watched some of our "supporters" calling us scammers, some even insinuating that we dumped ahead of the announcement. Neither could be further from the truth. Emotions were running high yesterday. We wanted to let everybody have their say before we responded to anything. With that said, onto some of your questions and comments...
User: "Some of us are holders and miners from june. We deserve more @linx team" Dev: We appreciate your frustration John as we are feeling exactly the same. Months and months of work on the payment system took priority over everything else as we knew it was going to be a massive coup for the project integrating with one of the most reputable dance music retailers in the world. The amount of work involved set us back with everything else. Remember, we don't have millions of dollars raised from an ICO to just employ an army of people to get this done. All we can do is assure you that nothing has changed from our perspective, if anything our vision, especially for the platform, is bigger now than we first anticipated. We totally appreciate and respect people like yourself that have been with us from the start and shown real support for the project and we hope that your faith in the project remains.
User: "Unfortunately devs probably knew for quite some time that this wasn’t happening today and used their recent hype to dump their bags." Dev: Not true. For those calling us scammers or liars or insinuating that we have dumped our supply, we suggest that you save yourself the anxiety and exit now without looking back.
User: "if there was an exchange they would have mentioned it" Dev: Check out the guidelines and rules for listing on any of the larger exchanges.
User: "its been 1 year with nothing to show for it at the moment" Dev: Not true and extremely insulting.
User: "you don't give us enough information" Dev: Yes this is a valid point, but we did tell you how we planned to operate from day one. If we felt we could tell you things and they wouldn't be used as hyping weapons we would be much more forthcoming. The last thing we wanted from this project was a lot of hot air out there and a community getting progressively angered by promises of things to come that are yet to materialise. Yesterday, when we did say something, we watched as people from the crypto community publicly attempted to rubbish our project to our retail partner. Yes, against our better judgement we have made some statements, in good faith, regarding our roadmap along the way to address some of the constant questions raised from the community. The reason we never wanted to say anything prematurely is hopefully blatantly obvious now. We fully understand the never ending cycle of hype and fud that the cryptoscene thrives on, but we told you from the start that we were not going to do that.
User: "Since the first partnership didn't go through for now, could you tell us a bit more about the future business strategy of linxpay? Will you release the retail or consumer software to public?" Dev: Absolutely. We weren't planning to release this until the retail version was out there but yes, the consumer version will be fast forwarded now for sure. Work on the platform is currently taking priority, once that's finished this will be next. Think of it like an alternative to the paypal model. It will be as simple as registering an account and making a simple API call to start accepting Linx on any website or blog.
User: "Why set deadlines at all if it's not set in stone with Traxsource." Dev: We didn't. We agreed a deal with Traxsource in 2017. The timelines for integration were chosen and subsequently postponed by Traxsource for valid and unavoidable reasons. The 'set in stone' date of May 1st was their choice as was made clear in our previous announcement.
User: "please tell us about new exchanges." Dev: We have submitted, and are still actively submitting exchange listings. That's all we can say right now. We know that's not exactly what you want to hear but it's the truth.
User: "Good luck finding a link to that "press release" anywhere, likely fake." Dev: It's probably a good idea to wait and see next time before you accuse us of being fraudsters. The press release was entirely Traxsource's idea. They are fully aware that this further delay from their end might hurt our reputation and this is the last thing they wanted to happen. They have supported us from the start. The music industry is extremely fluid and unfortunately full of unexpected circumstances that often cause delays.
User: "reveal the identity of the devs please" Dev: If you are unable to trust us without knowing who we are then this isn't the project for you. There are plenty of crypto projects with photographs and linkedin accounts for you to invest in. We have our reasons for wanting to remain anonymous which we'll explain a bit more in the following answer.
User: "Could you provide a valid business reason why being anonymous is a good thing for Linx?" Dev: Sure. Has the anonymous nature of Bitcoin prevented it from being adopted? Charlie Lee recently stated that he will eventually pull away from the Litecoin project as he doesn't feel having a public head for the project is a good thing. We feel exactly the same way. Any project should thrive (or fail) based on the project, and not who is behind it and what they say or do. Also remaining anonymous allows us to poole our enormous resources without interference from the crypto community. For example - this was tweeted directly to our retail partner yesterday "@traxsource we have some developers who will build and deploy a working product. No need to work with @linXcoin".
User: "scam exit today?" Dev: No.
User: "So they've dumped everything" Dev: No.
User: "Why release the name of the partner? if the deal was still on you would keep the name hidden for competitive advantage" Dev: Do you think that this was the way either us or Traxsource wanted to announce this integration? Can you imagine the fallout if we had simply said that there was another delay without telling you anymore? We had no choice but to reveal the name and we are massively disappointed that we had to do it this way.
User: "The fact that you didn't begin the marketing is a problem" Dev: Yes it is a problem but we couldn't. The marketing of this integration is a joint venture between ourselves and Traxsource.
User: "obviously this is a huge disappointment for you guys, as I can't even imagine the man hours you've put into this project." Dev: Yes this is a massive disappointment for us. We have been working towards this since last year. Other aspects of the project were put on the back burner as this took priority. It's the last thing we wanted or expected and has put us behind schedule several times now, not to mention also delaying other aspects that were tied to the release of this integration. We are now having to adjust our strategy to fit the situation which is not easy when we've been working to said strategy for over a year.
User: "Also if items have changed it would be good to provide fans with more realistic + achievable timelines" Dev: Although we completely understand, and in another situation would totally agree, this is something that we will not be doing. Once bitten... From here on out we will only talk about things that are imminent. That way there is no room for disappointment on either side. We feel this is the only way to proceed and maintain credibility in the current climate.
User: "thank you for this good partnership" Dev:Thank you for again being one of the few that has actually picked up on what a big achievement this is. From the very start we asked you to trust us and for those that have, hopefully we've been proven worthy of that trust.
User: "The team must show more respect for investors" Dev: We haven't received a single penny of investment from anybody.
User: "If they didn't care about crypto community and communication at all, why give all those promises they knew they couldn't 100% deliver?" Dev: The failure for this to happen on the announced dates was not our call, we were 100% ready.
User: "So no milestone has been accomplished" Dev: If pairing up with one of the biggest retailers in our industry and thereby opening Linx up to an entirely new and significantly large audience is not a milestone then nothing we do is ever going to be good enough for you.
User: "The "store upgrade workload" reason sounds bullshit." Dev: It's not. We know the reasons for the latest delay and they are 100% valid.
User: "I think the regulations gave them cold feet" Dev: That is not the reason, see answer above.
User: "I firmly believe that Linx will have its chance to show itself to the world, and maybe it will not take long". Dev: Thank you for the vote of confidence, so do we! We wouldn't be doing this if we didn't :)
User: "The fact is the awareness of this project is only maintained by the community." Dev: Do you really think Traxsource agreed to partner with us because of the Linx community?
User: "If you are really so confident, please at least show us some proof so we can trust?" Dev: Very confused by this question, this seems an impossible ask.
User: "technically, maybe it would have been better for the devs to simply just keep the project closed as they once mentioned" Dev: Agreed.
User: "Keep in mind that there seemed to have been a NDA between linx and their partner" Dev: A fact that most other people haven't picked up on and yes, you are correct. It's not just Linx that needs to keep plans under wraps for competitive edge, our partners do too.
User: "Take a closer look at Traxsource instead and what a quality business it appears to be." Dev: Exactly. Anybody who knows anything about our market knows how big a deal this is. Maybe it would be useful for some to go back and read what Linx is all about.
User: "I just hope that the devs won't lose the motivation to achieve what they had planned". Dev: No we won't. Of course we would benefit from less criticism and more support from the community though :)
User: "I can't speak for everyone but personally as an EDM fan I truly want to see the project become reality and would love to help make it become a reality in any way I can". Dev: You are exactly the kind of person that we hoped would get behind the project and we value your support.
Dev: We have only covered a handful of questions here but it is clear that 2 of the biggest concerns you have relate to communication from us and listing on more exchanges. We will look into making both of these matters a priority going forward. We appreciate that there are some of you that have been with us since the start and we wish this recent announcement had been different for you as much as for ourselves. The last thing we wanted to do is let anybody down. It's especially hard when things are beyond our control as they were in this instance. We'll ensure that a repeat of this situation doesn't happen again by only releasing information on things that are imminent, no big lead ups.
We also hope that our answers to some of your questions do not come across too rude or dismissive, as that is really not our intention, but it is really important that we are quite blunt in our answers to avoid any misunderstandings.
In closing we just want to say that we are very encouraged by the support and activity in the community run Telegram channel especially. Please don't think that we don't care about, watch and value your support in the community channels, we most certainly do.
May 15
Dev:Hey guys,
Hope you're all well.
To address one of the issues brought up recently we are going to be posting progress updates and answer some of your questions every week or two from now on. Any questions you have can be posted in any of the Linx social groups and we'll pick a few and answer what we can.
Progress Updates :
-- Exchanges: As you are all no doubt aware the space has changed a lot over the past few months and many exchanges now only seem to be interested in ERC20 tokens that have raised significant funds from an ICO - and therefore can afford the substantial listing prices that some centralised exchanges are currently charging. We have some options on the table but we would really like to hear feedback from the community as to which exchanges they would prefer to see us spend the money on.
With that said we are totally prepared to follow the listing fee route with exchanges that still offer this option (fewer and fewer of them around it seems), but as mentioned above we would like to get some feedback from you guys before we proceed as we need to choose wisely. We want to ensure that there is a bigger marketplace for Linx traders but at the same time we don't want to see pump and dumps.
We have already submitted listing applications to several of the big exchanges but we have no further details to report at this time.
We've also begun adding Linx to voting systems on exchanges that offer this feature. Here is the voting link for SouthXchange - https://www.southxchange.com/Home/Vote - the Linx voting address is 16bt2DWHh2hxzgjK31sCifiLuUcvQaUFti if you want to support this listing. If there are any exchanges in particular that you would like us to add please let us know.
Although this is not ideal right now we believe that the future is going to be much brighter as more and more people move towards decentralised exchanges. We most certainly will be adding Linx to as many of these as possible as soon as the updated Linx source is released. The updated source fully supports DEX requirements.
-- Platform: We implemented some exciting tech this week on the streaming side of things. Beta testers will get to try it first and once we're happy that the platform is ready to launch we'll be able to tell you about it. Yes this is secretive but for good reason. We are not trying to sell anything based on this information, we're just keeping you in the loop while building something new and fresh. The last thing we need is somebody trying to copy our ideas before we've had a chance to release them. All things going well we should be in a position to give you a timeframe for the beta release in the next update. If you are wondering why you can't see any activity on our github for anything to do with the platform it's because it's all being done on our own self hosted private gitlab repository. At some point in the future we may open this repo up for community contributions, but for now it's strictly an in-house affair. Just because you can't see what's happening doesn't mean we're not busy beavering away :)
-- Retail Integration: No further news on this at the moment, please see the statement from Traxsource if you are unaware of the current situation.
Please get your questions in for the next update, we're listening :)
Wishing you all a fantastic week and, as always, thank you for being #LinxHeadz!
User: can you expand even a little on the music streaming platform?
Dev:Sure, the streaming part is just one aspect of the platform. It will enable artists to self-distribute. It can be used to simply showcase their work (think Soundcloud etc) or it can be used as a direct-to-fan sales platform utilizing instant purchases and downloads. It can also be used as a secure private distribution platform, for example - a producer or band sending out demo's to record labels. The labels will be able to play the track but the public will have no access or even knowledge that the track exists.
User: Regarding the exchanges and fees: can you elaborate on what options are on the table?
Dev:We'd rather not for the simple reason that once we start naming exchanges it opens up the doors for potentially negative responses aimed at said exchanges, remember this is all being discussed in a public forum. But more importantly, we don't want to lead the conversation. Right now the addition of new exchanges is more important to you guys than it is to us, so we'd rather hear what you want without trying to steer the debate in one direction or another.
Thanks for the suggestions of exchanges so far, please keep them coming.
May 21
Dev: Hi guys, please find some responses to your recent comments, suggestions and questions below. Team Linx
User: "wish we had more info about the payment system" Dev: As mentioned before, we spent months building a highly customised version just for Traxsource. As well as being a realtime payment processing engine it also includes a fully detailed customer management and tracking system including accounting and refund processing. It's incredibly simple to install on a retailers server and it is also completely self-hosted. It doesn't rely on, or even talk to, any of our servers. It only requires one live encrypted node (that doesn't even have to be localised) to connect to the Linx blockchain and a server with a valid SSL certificate to operate. It will convert several different FIAT currencies into Linx on the fly based on the current average exchange rate and includes weighting options for the retailer to cover any potential price swings. It's a fully automated system that creates unique user accounts for each customer and tracks their purchase history - it can even offer automatic discounts based on this. It fully integrates with any existing customer database or accounting system that a retailer may already have. It has several levels of security built in including anti-fraud mechanisms. It has a complete user management system whereby the sysadmin can grant varying levels of restricted access to company employees. It truly is a one click solution for any retailer that wants to start accepting Linx on an existing store and a fully functional out of the box customer management system for those wanting to open an online store from scratch. What was once a simple payment processing engine has evolved into a beast of a system unlike anything else out there in this space for sure.
User: "Do you feel the current developers can handle the workload required? Any plans to expand the linx team in the near term?” Dev: It is a lot of work, and the unexpected delays haven't helped at all, but it's important that these early stages of the platform are completed by the core team as they understand the full vision. Yes, we absolutely plan to expand the team once the platform stage is out of the way. We are actively looking for a dedicated lead iOS Dev, (if anybody in the community has suggestions we are all ears). We've already got people waiting to go with regards to the music PR side of things, we've had them from the start.
User: "new exchange suggestions" Dev: Many thanks to all of those that have put forward their suggestions of potential exchanges. We have been making applications where relevant. Some exchanges have already got back to us with offers of listing fees. Once we hear back from all of them we'll review the situation and decide where to go from there.
User: "Bittrex" Dev: We have already re-submitted Linx for listing on Bittrex. When we originally submitted it last year, the circulating coin supply was too low. At the time they required at least 10% of the total supply to be out there, this wasn't the case back then, but it is now. Please keep in mind that if Bittrex does decide to list Linx we will not be able to talk about it.
User: "TradeOgre also is free and good coins are being added there" Dev: Linx has been submitted for listing on TradeOgre.
User: "Dex exchanges" Dev: We will be submitting to many of these as soon as the updated source code is released. There are BIP's in the updated source that are required for DEX listings.
User: "what about the exchange you said you had?", "why aren't you talking about that?", "they have also made irresponsible announcements such as that they had 1 definite and more pending exchanges" Dev: We have definite options on the table to pay for listing Linx. We are not going to disclose what exchanges these are until, and if, we decide to actually go with any of these. This was the primary reason why we asked for your opinions.
User: "starting a community fund to cover exchange listing fees" Dev: Thank you, this is true community spirit and let's us know how much you care about this project being successful! Hopefully this won't be required but it's good to know that some of you have got our backs in this respect :)
User: "there's something fishy going with big buy orders", "looks like insider trading", "somebody knows something" Dev: As mentioned above, we have submitted Linx to several exchanges. It's possible that any of these could have decided to get some supply prior to a potential listing, but if that is the case we certainly wouldn't know about it.
User: "linx kiosk and linxtalk.org" Dev: Neither of these are anything to do with us.
User: "They abandoned the project for the moment. No roadmap,no news about exchanges, no news about the integration with TRAXSOURCE, no real dates when they communicate Only promises. I think they did on puropose to let the price go down" Dev: Categorically not true. Why would we want to kill the value of our own project and upset the entire community at the same time? We’d lose all round! If anything, it's posts spreading FUD like this that could be having negative effects on the price. Of course it's your right to say whatever you want if that's what you believe, just don't expect anything positive to come of it if you do though.
User: "sometimes I think they are professionals and they know what they do, other times I think they are naive and lacking in experience", "i think they are just to slow for crypto business", "I feel like the project is being run by arrogant musicians rather than business folk with common sense", "honestly I dont think we can expect anything from Linx" Dev: How are these comments at all helpful or constructive? Insulting our project management, our team's characters' and our abilities has no value and is nothing more than that - throwing insults. Not only is it unhelpful but it’s irresponsible to the rest of the community. These forums were set up for supporters of the project. Please remember that they are also accessible to any potential exchange or business partner. Anybody that uses these forums to simply slag off the project and the team are undermining all of our efforts and the efforts of the rest of the community to move the project forward, not to mention the negative effects comments like this will have on new members joining.
User: "They have said many times their least concern is the investors" Dev: Of course we are concerned that people have put their faith and trust in us and we aim to deliver, but if you want us to make a choice between working on making this happen or spending our time posting pointless updates to keep speculators happy the work will win every time.
We all win when we achieve what we've set out to do and then you guys start shouting about how great it is and inviting people to see for themselves. We've taken onboard the valid criticisms about the lack of communication and are actively rectifying that.
User: "You don't have to do things just to tick them..." Dev: So you want us to lie then? Wrong project.
User: "I doubt linx really want to avoid the crypto community and not understand the importance of community support, but their stance is that they only want hype when the hype is supported by fact. After being burnt by their own mini-hype they are even more conservative in leaking info now." Dev: 100% correct. It has never been our intention to cut the crypto community out, if that were the case we would have just got on and done our thing without even bothering to tell anybody about it until we were ready to go.
We are all too aware of what "community" can sometimes mean in the crypto space. We know there are many of you that support our vision and are very excited, as are we, about what we are trying to achieve, but sadly this doesn't ring true for lots of others. We're not naive, we know a lot of you are here to make money and then move on to the next thing. That's absolutely fine, but don't get that confused with "community support". What we have tried to do from the start is minimise the hype/fud that "communities" rely on as our goal for this project is much more than to just be another coin sitting on an exchange. We are building something that we hope will revolutionise the way assets change hands in our industry (the music business). This is why we haven't subscribed to the same tactics that some other crypto projects use. We know we have something here and we believe we can make this happen. We don't need, or want, people shilling the project based on future promises. We brought this project to the crypto community to give those of you that liked the sound of what we are planning the chance to get involved and support it early. We knew we were a way off from realising most of our goals which is why we haven't hyped it yet.
User: "hard questions require harder answers" Dev: Couldn't agree more, let's do it!
User: "1. Rapidly improve the entire approach to communications and remove all previous lead dev arrogance.” Dev: Communication criticisms have been taken on board, hence the regular Q&A. Lead dev arrogance? What is your reason for this comment? Please expand.
User: "2. List the coin on many many more exchanges immediately (Use dev fee if needed and discuss community raised funds).” Dev: As mentioned above, Linx has been submitted to many exchanges and the community raised funds issue has also been addressed.
User: "3. Hire more team members (actually use the dev fee / no man is an island)." Dev: So you'd like us to dump our dev fee on the exchanges to hire some more people? What do you suppose that would do to the price and confidence in the project right now? Is this really what you want us to do? We are managing this project responsibly. As explained above, we will expand our team when needed.
User: "4. Set out a new clear product roadmap that is achievable, and stick to it. This is just software, break it down and get it out there.” Dev: We have a roadmap. This isn't just "software". We are talking about opening up the crypto space to an entirely new market here. The marketing and branding of this project is just as, if not more, important as the "software".
User: "5. Stop creating more hidden sub projects / idealistic dreams, this will hurt the overall brand and project long term, if the mic cable gets pulled out again inadvertently.” Dev: You mean like issuing a new roadmap?
User: "6. Think about strategy, security and data privacy, way in advance (GDPR re: linx social platform api usage - should have seen that a mile off).” Dev: Security and privacy have been utmost in our thinking since day one. It's one of the reasons we created Linx in the first place. It's also why we shut down our web wallet. With regards to GDPR we have been fully compliant since the first line of code was typed. What we couldn't account for was how the big social platforms were going to limit, or in some cases entirely lock down their API’s due to GDPR. We've had to make adjustments based on ongoing changes being made to these platforms, as will any other platform using API’s in this way. As mentioned in the last Q&A this has actually pushed us in another, much bolder direction than we first anticipated. It's just going to take a bit longer to realise it.
User: "7. Release the new 2.0 source code and talk about it with your community." Dev: The new source is coming and there will be a full update about what's changed when it's released.
User: "8. Do more Q&A’s." Dev: Hello :)
User: "9. Listen to and work with your community (crypto or otherwise) there is much intelligence in mass. Do not ever alienate them again, these are your fans, holders and miners, keeping your network secure. Without them, this will be doomed to the bedroom.” Dev: We are well aware of the importance of the miners that secure the network. We chose a POW algorithm to ensure that Linx could involve the entire crypto scene. We also value the support of the community when it's real support or valid criticism, and not just bitching because their planned pump and dump didn't pay off. As you can see, we will happily address any valid question or criticism. But we're not going to pander to people that are simply insulting us.
User: "10. Keep positive." Dev: Why would we not be positive? It does wonders for our team moral reading comments from our "supporters" about how useless we are, it really encourages us. Seriously though, If you really mean this and want us to keep positive then you the community can help with this. Insulting us, spreading FUD & general negging is not the way to help with positivity.
submitted by CryptoSaul to LINXcoin [link] [comments]

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