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How is your passive income from Crypto going in 2020? So far I have made around $11k plus from approximately 13 or so sources. Details below.

I remember in 2017 there were epic stories of people making fortunes from free crypto-giveaways – for example, the nano faucet gave people fantastic wealth if they held on all year. Then there were things like the various bitcoin forks – great if you cashed in.
Now in 2020 there seems to be another uptrend in terms of the ability to get “free crypto” – in various ways. Overtime this can build up to quite a lot.
This year I have:
  1. Coinbase earn – I’ve done almost all of these and have had a few referrals. I think I earned maybe $200 or so all up, cashed in BTC, and that BTC is probably around $400
  2. Reddit moons – I have earned 3100 moons, sold for roughly $220
  3. Uniswap – My free 400 tokens are still held, so they are worth maybe $1200
  4. Binance Coin – lots of staking and lottery compensation payments here – for example, I recently sold my Flamingo, Venus and Alpha tokens – maybe $30;
  5. Hex – Yes I know it’s a scam, but I think I bit have a decent little payout in a month when my 90% locked tokens open (won’t say how much as that will reveal my BTC wallet holdings);
  6. Swissborg – A fun little “guess the bitcoin app” that has $50 worth of tokens in it now;
  7. Brave Browser – I’ve earned like $20 from that this year (insert: “Its not much but its honest work gif”);
  8. Uniswap Pools etc – Hard to calculate this one but I’m earning some really great fees and Uni from pooling WBTC and WETH – about 0.5% return a week. Was also previously staking Uni / ETH - I made $1000 in fees but mostly gobbled up by impermanent loss.
  9. Honeyswap – Every 48 hours, I log-in to get free honey from the faucet – around $40 or so;
  10. Survey – I did a phone survey for a local project and got given $100 of free tokens;
  11. Livepeer – No idea what this is but I sold two airdrops for around $20;
  12. Nexus Mutual – Probably the king here. Invested $1200 worth. Received a 58% dividend on the first day of staking (say $700) which I reinvested. That $700 is now $8000 or something ridiculous (and itself earning rewards), plus another 13 NXM (So another $416 on top).
  13. And then lots of rats and mice rewards from things like staking Celsius, staking Tezos referral rewards etc. I even have 3000 of that damn Pi coin thing but don’t know where that is going.
  14. And to top it off a free ledger nano for participation in a private group on FB
  15. (EDIT: I forgot to mention I am currently winning a "pick four" crypto competition that I entered in January where you pick four cryptos and the winner takes the pot. I picked BTC, FTX, SNX and CEL - so that might be another $200 to add to my collection!)
So in all, that is an entire bitcoin just for doing a bunch of crazy stuff. Who said it was difficult to join the 21 million club?
So for some people that might be considered a decent pay package for a full time job! What other opportunities do you guys have where you have passive income coming from crypto? Am I missing any obvious ones here?
submitted by Cryptodragonnz to CryptoCurrency [link] [comments]

Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Public Proposal TL;DR:

Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and posts per Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625.
Watch Joe walk through the entire proposal and answer questions on YouTube.
This proposal is also available on the Dragonchain blog.

Hello Reddit and Ethereum community!

I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale.
For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube.
We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.

Executive summary

Dragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.

Response and PoC

In The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.

Live Demo

A live proof of concept showing hundreds of thousands of transactions
On Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks.
24 hours in 4 minutes (YouTube):
24 hours in 4 minutes
The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period.
Tooling to reproduce our demo is available here:
https://github.com/dragonchain/spirit-bomb

Source Code

Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.

Scaling

How it works & scales

Architectural Scaling

Dragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired.
Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.

Economic Scaling

An interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity.
TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block.
TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.

Scaled Deployment

Dragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain.
With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times.
We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment.
Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.

Flexibility in Scaling

Dragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems.
We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.
  • LBRY - To allow users to deploy content natively to LBRY
  • MakerDAO to allow users to lend small amounts backed by their Reddit community points.
  • STORJ/SIA to allow decentralized on chain storage of portions of content. These integrations or any other are relatively easy to integrate on Dragonchain with an Interchain implementation.

Cost

Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).
On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction.
Dragonchain Fees Table

Getting Started

How to run it
Building on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node.
Getting started is easy...
  1. Download Dragonchain’s dctl
  2. Input three commands into a terminal
  3. Build an image
  4. Run it
More information can be found in our Get started documents.

Architecture
Dragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain.
Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain.
After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks.
Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.

API Documentation

APIs (on chain & off)

SDK Source

Nobody’s Perfect

Known issues or tradeoffs
  • Dragonchain is open source and even though the platform is easy enough for developers to code in any language they are comfortable with, we do not have so large a developer community as Ethereum. We would like to see the Ethereum developer community (and any other communities) become familiar with our SDK’s, our solutions, and our platform, to unlock the full potential of our Ethereum Interchain. Long ago we decided to prioritize both Bitcoin and Ethereum Interchains. We envision an ecosystem that encompasses different projects to give developers the ability to take full advantage of all the opportunities blockchain offers to create decentralized solutions not only for Reddit but for all of our current platforms and systems. We believe that together we will take the adoption of blockchain further. We currently have additional Interchain with Ethereum Classic. We look forward to Interchain with other blockchains in the future. We invite all blockchains projects who believe in decentralization and security to Interchain with Dragonchain.
  • While we only have 700 nodes compared to 8,000 Ethereum and 10,000 Bitcoin nodes. We harness those 18,000 nodes to scale to extremely high levels of security. See Dragonchain metrics.
  • Some may consider the centralization of Dragonchain’s business nodes as an issue at first glance, however, the model is by design to protect business data. We do not consider this a drawback as these nodes can make any, none, or all data public. Depending upon the implementation, every subreddit could have control of its own business node, for potential business and enterprise offerings, bringing new alternative revenue streams to Reddit.

Costs and resources

Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).
Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD.
For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments.
Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.

Requirements

Scaling

This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users.
Over a 5 day period, your scaling PoC should be able to handle:
*100,000 point claims (minting & distributing points) *25,000 subscriptions *75,000 one-off points burning *100,000 transfers
During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes.
Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum.
Reddit Scaling on Ethereum

Decentralization

Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to consider
Dragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.
  • Billing is currently centralized - there is a path to federation and decentralization of a scaled billing solution.
  • Operational multi-cloud
  • Operational on-premises capabilities
  • Operational deployment to any datacenter
  • Over 700 independent Community Verification Nodes with proof of ownership
  • Operational Interchain (Interoperable to Bitcoin, Ethereum, and Ethereum Classic, open to more)

Usability Scaling solutions should have a simple end user experience.

Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactions
Dragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node.
Examples:

Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)
All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.

Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)
With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users.
All of Reddit's Transactions on Blockchain (month)
Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees.
Reddit Internal Token Transaction Fees

Reddit Ethereum Token Transaction Fees
When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.
  1. Offload all Ethereum transaction fees (user withdrawals) to interested users as they wish to withdraw tokens for external use or sale.
  2. Cover Ethereum transaction fees by aggregating them on a timed schedule. Users would request withdrawal (from Reddit or individual subreddits), and they would be transacted on the Ethereum network every hour (or some other schedule).
  3. In a combination of the above, customers could cover aggregated fees.
  4. Integrate with alternate Ethereum roll up solutions or other proposals to aggregate minting and distribution transactions onto Ethereum.

Bonus Points

Users should be able to view their balances & transactions via a blockchain explorer-style interface
From interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here.
Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here.
In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here.
A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.

Exiting is fast & simple
Withdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.

Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.
Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.

Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible
APIs should be well documented and stable

Documentation should be clear and complete
For full documentation, explore our docs, SDK’s, Github repo’s, architecture documents, original Disney documentation, and other links or resources provided in this proposal.

Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.
Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected.
Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.

Bonus

Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!

TIME

Community points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.

Dragon Den

Dragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR.
Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.

Security. Users have full ownership & control of their points.
All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.

Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone else
Users can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.

Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone else
Through our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw

Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offline
If necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.

A public, third-party review attesting to the soundness of the design should be available
To our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.

Bonus points
Public, third-party implementation review available or in progress
See above

Compatibility with HSMs & hardware wallets
For the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.

Other Considerations

Minting/distributing tokens is not performed by Reddit directly
This operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.

One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalable
This is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).

Fully open-source solutions are strongly preferred
Dragonchain is fully open source (see section on Disney release after conclusion).

Conclusion

Whether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!

Disney Releases Blockchain Platform as Open Source

The team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group.
https://lists.w3.org/Archives/Public/public-blockchain/2016May/0052.html

Open Source

In 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney.
Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:
  • Obtain VP support and approval for the release
  • Verify ownership of the software to be released
  • Verify that no proprietary content would be released
  • Convince the organization that there was a value to the open source community
  • Convince the organization that there was a value to Disney
  • Offer the plan for ongoing maintenance of the project outside of Disney
  • Itemize competing projects
  • Verify no conflict of interest
  • Preferred license
  • Change the project name to not use the name Disney, any Disney character, or any other associated IP - proposed Dragonchain - approved
  • Obtain legal approval
  • Approval from corporate, parks, and other business units
  • Approval from multiple Disney patent groups Copyright holder defined by Disney (Disney Connected and Advanced Technologies)
  • Trademark searches conducted for the selected name Dragonchain
  • Obtain IT security approval
  • Manual review of OSS components conducted
  • OWASP Dependency and Vulnerability Check Conducted
  • Obtain technical (software) approval
  • Offer management, process, and financial plans for the maintenance of the project.
  • Meet list of items to be addressed before release
  • Remove all Disney project references and scripts
  • Create a public distribution list for email communications
  • Remove Roets’ direct and internal contact information
  • Create public Slack channel and move from Disney slack channels
  • Create proper labels for issue tracking
  • Rename internal private Github repository
  • Add informative description to Github page
  • Expand README.md with more specific information
  • Add information beyond current “Blockchains are Magic”
  • Add getting started sections and info on cloning/forking the project
  • Add installation details
  • Add uninstall process
  • Add unit, functional, and integration test information
  • Detail how to contribute and get involved
  • Describe the git workflow that the project will use
  • Move to public, non-Disney git repository (Github or Bitbucket)
  • Obtain Disney Open Source Committee approval for release
On top of meeting the above criteria, as part of the process, the maintainer of the project had to receive the codebase on their own personal email and create accounts for maintenance (e.g. Github) with non-Disney accounts. Given the fact that the project spanned multiple business units, Roets was individually responsible for its ongoing maintenance. Because of this, he proposed in the open source application to create a non-profit organization to hold the IP and maintain the project. This was approved by Disney.
The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release.
Original OSSRELASE-10 document

Dragonchain Foundation

The Dragonchain Foundation was created on January 17, 2017. https://den.social/l/Dragonchain/24130078352e485d96d2125082151cf0/dragonchain-and-disney/
submitted by j0j0r0 to ethereum [link] [comments]

Hulk.Finance: A Combination of DeFi and High Frequency Trading

DeFi continues to push the limits of blockchain technology. Whether its staking a native token for a second token from the same ecosystem, locking liquidity for an eternity to promote liquidity providing and the benefits of locking tokens, or simply creating new tokenomics that can be tested and studied, DeFi is exploring all avenues to produce the next breakout token such as YFI. Hulk.finance has stepped in to do just that.

Hulk.finance (Contract Address: 0xE1f8CD01aB04b51d02C6fb2BCA61B03fB5e33B99**)** is an ERC20 token which plans to utilize a DAO (Decentralized Autonomous Organization) format that will be community governed in order to promote high frequency trading in a manner only DeFi can bring to the table. As stated on their website, “Our project connects a high-yield partner HFT (High Frequency Trading) fund that has successfully worked from the beginning of 2020 and has year-to-date yields of more than 40%. The fund size is more than 70 millions USD and they operate on several cryptocurrency exchanges like Binance and Bithumb with their API robots. What is good — automated trading does not require continuous uptrend of the Bitcoin price. We have seen good results during Bitcoin breakouts and breakdowns. We want to have the same yields from our investments. But there is a problem — they work with an entrance barrier of 1,000,000 USDT, like many private banking services or high-yield ETFs. Our basic idea is to make a kind of DeFi staking pool and put it under the management of the HFT fund. We will develop all infrastructure for connecting finance flows, deposits, and withdrawals.

The HULK total supply is 100,000 Tokens. Distribution breakdown is as follows:

The project is new but already has a road-map to help guide their lofty ambitions. The first step begins with the formation of the pre-sale and Liquidity pool on Uniswap which is currently ongoing. Secondly, they will distribute Hulk tokens via staking farms. As described in their website they “will run staking farms for farming 80,000 HULKs*. You will need to stake appropriate tokens on the selected farms to get your share of rewards in HULKs. Farm 1 will farm rewards of 60,000* HULKs within 15 days, staking token — ETH-HULK LP Uniswap V2. Farm 2 will farm rewards of 10,000 HULKs within 15 days, staking token — USDN. Farm 3 will farm rewards of 10,000 HULKs within 15 days, staking token — Token Y. Token Y will be announced prior to the farms’ launch. Genesis farming time will be 15 days, after that farming rate will be settled on the level of 15th day. We implement halving every three days, so early farmers will get more HULKs. View on Etherscan. In order to support the price of the token from dumping, we will take a 5% commission for the sale of tokens, when holders sell it on Uniswap, burn 4% and add 1% to the community grants account. The burnt amount will be added to farming pools after 15 days of initial farming. So, for example, if someone sold 20,000 HULKs, we will take 1,000 tokens, burn 800 of them and they will be re-minted on day 16. 200 tokens will be sent to the community grants address. The total supply is 100,000 tokens.”

The third step includes the staking pool. The staking pool will be open for everyone on the following terms and conditions.


Funds from the staking pool will be transferred to the HFT fund for trading operations.

Lastly, the Vault concept is descriptive. “We want to share revenue from HFT fund among HULK holders that stake their tokens in HULK Vault. HFT fund will send revenue from its operation once a month, on the first day of the following month. Current concept: Monthly revenue from HFT operations will be shared between HULK tokens staked in the vault according to the time of staking divided on 720 hours. Example: You stake your 500 HULK tokens in Vault for 20 days (480 hours). Your HULK/hours equal to 500*480=240,000. Total HULK/hours in Vault in this month — 60,000,000. Your share in this month = 0,4%. HFT fund has earned 4% on staking pool funds this month. After payout of their 1,25% (15%/12) per month to USDT stakers, the remaining part is 10,000,000 USDT x 2,75% = 275,000 USD. Your profit share 0.4% of 275,000 = 1100 USDT will be sent as USDT to your address, connected with a Vault.”

All of the above described by the tokens creators seems very complicated, but many tokens are already trying to accomplish this without access to an already built fund which can execute trades on a daily basis. Also due in part is the projects commitment to becoming a DAO by allowing holders to vote on key project decisions and development to make the ecosystem more effective and manageable. Decentralization is the most trustworthy base of contract/cryptocurrency ownership. It creates a unique and secure environment free from direct outside influence due to the filter of the entire community being involved. The developers have said that the voting system for the project will be done within the first 30 days of project launch.

With lofty ambition and high expectations, the project looks to capitalize on the DeFi boom by hedging their fund against the market and giving holders a share of the pie. It will be interesting to see how successful and sustainable the project can be, but we will find out soon enough.

Pertinent Hulk.Finance Links:



(I write articles and reviews for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!)

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Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create an informative and educated discussion regarding the project in question. Invest at your own risk.
submitted by Chrisc9234 to CryptoMoonShots [link] [comments]

Hulk.Finance: A Combination of DeFi and High Frequency Trading

Hulk.Finance: A Combination of DeFi and High Frequency Trading
DeFi continues to push the limits of blockchain technology. Whether its staking a native token for a second token from the same ecosystem, locking liquidity for an eternity to promote liquidity providing and the benefits of locking tokens, or simply creating new tokenomics that can be tested and studied, DeFi is exploring all avenues to produce the next breakout token such as YFI. Hulk.finance has stepped in to do just that.

https://preview.redd.it/f4mrjlxu5ct51.png?width=675&format=png&auto=webp&s=2c2d11429ae554d541bed3a19955fed71e6f9b6d
Hulk.finance (Contract Address: 0xE1f8CD01aB04b51d02C6fb2BCA61B03fB5e33B99) is an ERC20 token which plans to utilize a DAO (Decentralized Autonomous Organization) format that will be community governed in order to promote high frequency trading in a manner only DeFi can bring to the table. As stated on their website, “Our project connects a high-yield partner HFT (High Frequency Trading) fund that has successfully worked from the beginning of 2020 and has year-to-date yields of more than 40%. The fund size is more than 70 millions USD and they operate on several cryptocurrency exchanges like Binance and Bithumb with their API robots. What is good — automated trading does not require continuous uptrend of the Bitcoin price. We have seen good results during Bitcoin breakouts and breakdowns. We want to have the same yields from our investments. But there is a problem — they work with an entrance barrier of 1,000,000 USDT, like many private banking services or high-yield ETFs. Our basic idea is to make a kind of DeFi staking pool and put it under the management of the HFT fund. We will develop all infrastructure for connecting finance flows, deposits, and withdrawals.

https://preview.redd.it/fugnjuoz5ct51.png?width=717&format=png&auto=webp&s=2aa5bd3828b4803191de330f024edab277f47906

The HULK total supply is 100,000 Tokens. Distribution breakdown is as follows:
  • Farms Distribution: 80,000 (6% or 4,800 — Team Part)
  • Pre-sale: 10,000
  • Initial Liquidity Pool: 8,000
  • Development: 1,000
  • Marketing: 1,000

https://preview.redd.it/js0zqx136ct51.png?width=717&format=png&auto=webp&s=0469468caa8d47be95baf392b2a26a9303d7f773
The project is new but already has a road-map to help guide their lofty ambitions. The first step begins with the formation of the pre-sale and Liquidity pool on Uniswap which is currently ongoing. Secondly, they will distribute Hulk tokens via staking farms. As described in their website they “will run staking farms for farming 80,000 HULKs. You will need to stake appropriate tokens on the selected farms to get your share of rewards in HULKs. Farm 1 will farm rewards of 60,000 HULKs within 15 days, staking token — ETH-HULK LP Uniswap V2. Farm 2 will farm rewards of 10,000 HULKs within 15 days, staking token — USDN. Farm 3 will farm rewards of 10,000 HULKs within 15 days, staking token — Token Y. Token Y will be announced prior to the farms’ launch. Genesis farming time will be 15 days, after that farming rate will be settled on the level of 15th day. We implement halving every three days, so early farmers will get more HULKs. View on Etherscan. In order to support the price of the token from dumping, we will take a 5% commission for the sale of tokens, when holders sell it on Uniswap, burn 4% and add 1% to the community grants account. The burnt amount will be added to farming pools after 15 days of initial farming. So, for example, if someone sold 20,000 HULKs, we will take 1,000 tokens, burn 800 of them and they will be re-minted on day 16. 200 tokens will be sent to the community grants address. The total supply is 100,000 tokens.

The third step includes the staking pool. The staking pool will be open for everyone on the following terms and conditions.

  • Staking Pool 1 Target: 10 million USDT.
  • Guaranteed APY: 15%.
  • Minimum Staking Amount: 100 USDT.
  • Type Of Staking: Locked
  • Minimum Staking Term: 24 hours
  • Withdraw Period: 24 hours after withdrawal order.
  • Reward Calculation: daily.
Funds from the staking pool will be transferred to the HFT fund for trading operations.

Lastly, the Vault concept is descriptive. “We want to share revenue from HFT fund among HULK holders that stake their tokens in HULK Vault. HFT fund will send revenue from its operation once a month, on the first day of the following month. Current concept: Monthly revenue from HFT operations will be shared between HULK tokens staked in the vault according to the time of staking divided on 720 hours. Example: You stake your 500 HULK tokens in Vault for 20 days (480 hours). Your HULK/hours equal to 500\480=240,000. Total* HULK/hours in Vault in this month — 60,000,000. Your share in this month = 0,4%. HFT fund has earned 4% on staking pool funds this month. After payout of their 1,25% (15%/12) per month to USDT stakers, the remaining part is 10,000,000 USDT x 2,75% = 275,000 USD. Your profit share 0.4% of 275,000 = 1100 USDT will be sent as USDT to your address, connected with a Vault.”

All of the above described by the tokens creators seems very complicated, but many tokens are already trying to accomplish this without access to an already built fund which can execute trades on a daily basis. Also due in part is the projects commitment to becoming a DAO by allowing holders to vote on key project decisions and development to make the ecosystem more effective and manageable. Decentralization is the most trustworthy base of contract/cryptocurrency ownership. It creates a unique and secure environment free from direct outside influence due to the filter of the entire community being involved. The developers have said that the voting system for the project will be done within the first 30 days of project launch.

With lofty ambition and high expectations, the project looks to capitalize on the DeFi boom by hedging their fund against the market and giving holders a share of the pie. It will be interesting to see how successful and sustainable the project can be, but we will find out soon enough.

Pertinent Hulk.Finance Links:



(I write articles and reviews for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!)
— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —
Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create an informative and educated discussion regarding the project in question. Invest at your own risk.
submitted by Chrisc9234 to CryptoCurrencies [link] [comments]

Hulk.Finance: A Combination of DeFi and High Frequency Trading

Hulk.Finance: A Combination of DeFi and High Frequency Trading
DeFi continues to push the limits of blockchain technology. Whether its staking a native token for a second token from the same ecosystem, locking liquidity for an eternity to promote liquidity providing and the benefits of locking tokens, or simply creating new tokenomics that can be tested and studied, DeFi is exploring all avenues to produce the next breakout token such as YFI. Hulk.finance has stepped in to do just that.

https://preview.redd.it/j5qhdouxect51.png?width=675&format=png&auto=webp&s=f054e18e44a59d2328850373cbce91c648875670

Hulk.finance (Contract Address: 0xE1f8CD01aB04b51d02C6fb2BCA61B03fB5e33B99) is an ERC20 token which plans to utilize a DAO (Decentralized Autonomous Organization) format that will be community governed in order to promote high frequency trading in a manner only DeFi can bring to the table. As stated on their website, “Our project connects a high-yield partner HFT (High Frequency Trading) fund that has successfully worked from the beginning of 2020 and has year-to-date yields of more than 40%. The fund size is more than 70 millions USD and they operate on several cryptocurrency exchanges like Binance and Bithumb with their API robots. What is good — automated trading does not require continuous uptrend of the Bitcoin price. We have seen good results during Bitcoin breakouts and breakdowns. We want to have the same yields from our investments. But there is a problem — they work with an entrance barrier of 1,000,000 USDT, like many private banking services or high-yield ETFs. Our basic idea is to make a kind of DeFi staking pool and put it under the management of the HFT fund. We will develop all infrastructure for connecting finance flows, deposits, and withdrawals.

https://preview.redd.it/0e3j6i0zect51.png?width=717&format=png&auto=webp&s=0578f1dfd88142f6da788b39a2e90833fb627c51

The HULK total supply is 100,000 Tokens. Distribution breakdown is as follows:

  • Farms Distribution: 80,000 (6% or 4,800 — Team Part)
  • Pre-sale: 10,000
  • Initial Liquidity Pool: 8,000
  • Development: 1,000
  • Marketing: 1,000

https://preview.redd.it/xiz7f0i2fct51.png?width=717&format=png&auto=webp&s=85a8e7ccc13661cb6318ed845793ab4f70c729e3
The project is new but already has a road-map to help guide their lofty ambitions. The first step begins with the formation of the pre-sale and Liquidity pool on Uniswap which is currently ongoing. Secondly, they will distribute Hulk tokens via staking farms. As described in their website they “will run staking farms for farming 80,000 HULKs*. You will need to stake appropriate tokens on the selected farms to get your share of rewards in HULKs. Farm 1 will farm rewards of 60,000* HULKs within 15 days, staking token — ETH-HULK LP Uniswap V2. Farm 2 will farm rewards of 10,000 HULKs within 15 days, staking token — USDN. Farm 3 will farm rewards of 10,000 HULKs within 15 days, staking token — Token Y. Token Y will be announced prior to the farms’ launch. Genesis farming time will be 15 days, after that farming rate will be settled on the level of 15th day. We implement halving every three days, so early farmers will get more HULKs. View on Etherscan. In order to support the price of the token from dumping, we will take a 5% commission for the sale of tokens, when holders sell it on Uniswap, burn 4% and add 1% to the community grants account. The burnt amount will be added to farming pools after 15 days of initial farming. So, for example, if someone sold 20,000 HULKs, we will take 1,000 tokens, burn 800 of them and they will be re-minted on day 16. 200 tokens will be sent to the community grants address. The total supply is 100,000 tokens.”

The third step includes the staking pool. The staking pool will be open for everyone on the following terms and conditions.

  • Staking Pool 1 Target: 10 million USDT.
  • Guaranteed APY: 15%.
  • Minimum Staking Amount: 100 USDT.
  • Type Of Staking: Locked
  • Minimum Staking Term: 24 hours
  • Withdraw Period: 24 hours after withdrawal order.
  • Reward Calculation: daily.

Funds from the staking pool will be transferred to the HFT fund for trading operations.

Lastly, the Vault concept is descriptive. “We want to share revenue from HFT fund among HULK holders that stake their tokens in HULK Vault. HFT fund will send revenue from its operation once a month, on the first day of the following month. Current concept: Monthly revenue from HFT operations will be shared between HULK tokens staked in the vault according to the time of staking divided on 720 hours. Example: You stake your 500 HULK tokens in Vault for 20 days (480 hours). Your HULK/hours equal to 500*480=240,000. Total HULK/hours in Vault in this month — 60,000,000. Your share in this month = 0,4%. HFT fund has earned 4% on staking pool funds this month. After payout of their 1,25% (15%/12) per month to USDT stakers, the remaining part is 10,000,000 USDT x 2,75% = 275,000 USD. Your profit share 0.4% of 275,000 = 1100 USDT will be sent as USDT to your address, connected with a Vault.”

All of the above described by the tokens creators seems very complicated, but many tokens are already trying to accomplish this without access to an already built fund which can execute trades on a daily basis. Also due in part is the projects commitment to becoming a DAO by allowing holders to vote on key project decisions and development to make the ecosystem more effective and manageable. Decentralization is the most trustworthy base of contract/cryptocurrency ownership. It creates a unique and secure environment free from direct outside influence due to the filter of the entire community being involved. The developers have said that the voting system for the project will be done within the first 30 days of project launch.

With lofty ambition and high expectations, the project looks to capitalize on the DeFi boom by hedging their fund against the market and giving holders a share of the pie. It will be interesting to see how successful and sustainable the project can be, but we will find out soon enough.

Pertinent Hulk.Finance Links:



(I write articles and reviews for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!)
— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —
Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create an informative and educated discussion regarding the project in question. Invest at your own risk.
submitted by Chrisc9234 to ethtrader [link] [comments]

How To End The Cryptocurrency Exchange "Wild West" Without Crippling Innovation


In case you haven't noticed the consultation paper, staff notice, and report on Quadriga, regulators are now clamping down on Canadian cryptocurrency exchanges. The OSC and other regulatory bodies are still interested in industry feedback. They have not put forward any official regulation yet. Below are some ideas/insights and a proposed framework.



Many of you have limited time to read the full proposal, so here are the highlights:

Offline Multi-Signature

Effective standards to prevent both internal and external theft. Exchange operators are trained and certified, and have a legal responsibility to users.

Regular Transparent Audits

Provides visibility to Canadians that their funds are fully backed on the exchange, while protecting privacy and sensitive platform information.

Insurance Requirements

Establishment of basic insurance standards/strategy, to expand over time. Removing risk to exchange users of any hot wallet theft.


Background and Justifications


Cold Storage Custody/Management
After reviewing close to 100 cases, all thefts tend to break down into more or less the same set of problems:
• Funds stored online or in a smart contract,
• Access controlled by one person or one system,
• 51% attacks (rare),
• Funds sent to the wrong address (also rare), or
• Some combination of the above.
For the first two cases, practical solutions exist and are widely implemented on exchanges already. Offline multi-signature solutions are already industry standard. No cases studied found an external theft or exit scam involving an offline multi-signature wallet implementation. Security can be further improved through minimum numbers of signatories, background checks, providing autonomy and legal protections to each signatory, establishing best practices, and a training/certification program.
The last two transaction risks occur more rarely, and have never resulted in a loss affecting the actual users of the exchange. In all cases to date where operators made the mistake, they've been fully covered by the exchange platforms.
• 51% attacks generally only occur on blockchains with less security. The most prominent cases have been Bitcoin Gold and Ethereum Classic. The simple solution is to enforce deposit limits and block delays such that a 51% attack is not cost-effective.
• The risk of transactions to incorrect addresses can be eliminated by a simple test transaction policy on large transactions. By sending a small amount of funds prior to any large withdrawals/transfers as a standard practice, the accuracy of the wallet address can be validated.
The proposal covers all loss cases and goes beyond, while avoiding significant additional costs, risks, and limitations which may be associated with other frameworks like SOC II.

On The Subject of Third Party Custodians
Many Canadian platforms are currently experimenting with third party custody. From the standpoint of the exchange operator, they can liberate themselves from some responsibility of custody, passing that off to someone else. For regulators, it puts crypto in similar categorization to oil, gold, and other commodities, with some common standards. Platform users would likely feel greater confidence if the custodian was a brand they recognized. If the custodian was knowledgeable and had a decent team that employed multi-sig, they could keep assets safe from internal theft. With the right protections in place, this could be a great solution for many exchanges, particularly those that lack the relevant experience or human resources for their own custody systems.
However, this system is vulnerable to anyone able to impersonate the exchange operators. You may have a situation where different employees who don't know each other that well are interacting between different companies (both the custodian and all their customers which presumably isn't just one exchange). A case study of what can go wrong in this type of environment might be Bitpay, where the CEO was tricked out of 5000 bitcoins over 3 separate payments by a series of emails sent legitimately from a breached computer of another company CEO. It's also still vulnerable to the platform being compromised, as in the really large $70M Bitfinex hack, where the third party Bitgo held one key in a multi-sig wallet. The hacker simply authorized the withdrawal using the same credentials as Bitfinex (requesting Bitgo to sign multiple withdrawal transactions). This succeeded even with the use of multi-sig and two heavily security-focused companies, due to the lack of human oversight (basically, hot wallet). Of course, you can learn from these cases and improve the security, but so can hackers improve their deception and at the end of the day, both of these would have been stopped by the much simpler solution of a qualified team who knew each other and employed multi-sig with properly protected keys. It's pretty hard to beat a human being who knows the business and the typical customer behaviour (or even knows their customers personally) at spotting fraud, and the proposed multi-sig means any hacker has to get through the scrutiny of 3 (or more) separate people, all of whom would have proper training including historical case studies.
There are strong arguments both for and against using use of third party custodians. The proposal sets mandatory minimum custody standards would apply regardless if the cold wallet signatories are exchange operators, independent custodians, or a mix of both.

On The Subject Of Insurance
ShakePay has taken the first steps into this new realm (congratulations). There is no question that crypto users could be better protected by the right insurance policies, and it certainly feels better to transact with insured platforms. The steps required to obtain insurance generally place attention in valuable security areas, and in this case included a review from CipherTrace. One of the key solutions in traditional finance comes from insurance from entities such as the CDIC.
However, historically, there wasn't found any actual insurance payout to any cryptocurrency exchange, and there are notable cases where insurance has not paid. With Bitpay, for example, the insurance agent refused because the issue happened to the third party CEO's computer instead of anything to do with Bitpay itself. With the Youbit exchange in South Korea, their insurance claim was denied, and the exchange ultimately ended up instead going bankrupt with all user's funds lost. To quote Matt Johnson in the original Lloyd's article: “You can create an insurance policy that protects no one – you know there are so many caveats to the policy that it’s not super protective.”
ShakePay's insurance was only reported to cover their cold storage, and “physical theft of the media where the private keys are held”. Physical theft has never, in the history of cryptocurrency exchange cases reviewed, been reported as the cause of loss. From the limited information of the article, ShakePay made it clear their funds are in the hands of a single US custodian, and at least part of their security strategy is to "decline[] to confirm the custodian’s name on the record". While this prevents scrutiny of the custodian, it's pretty silly to speculate that a reasonably competent hacking group couldn't determine who the custodian is. A far more common infiltration strategy historically would be social engineering, which has succeeded repeatedly. A hacker could trick their way into ShakePay's systems and request a fraudulent withdrawal, impersonate ShakePay and request the custodian to move funds, or socially engineer their way into the custodian to initiate the withdrawal of multiple accounts (a payout much larger than ShakePay) exploiting the standard procedures (for example, fraudulently initiating or override the wallet addresses of a real transfer). In each case, nothing was physically stolen and the loss is therefore not covered by insurance.
In order for any insurance to be effective, clear policies have to be established about what needs to be covered. Anything short of that gives Canadians false confidence that they are protected when they aren't in any meaningful way. At this time, the third party insurance market does not appear to provide adequate options or coverage, and effort is necessary to standardize custody standards, which is a likely first step in ultimately setting up an insurance framework.
A better solution compared to third party insurance providers might be for Canadian exchange operators to create their own collective insurance fund, or a specific federal organization similar to the CDIC. Such an organization would have a greater interest or obligation in paying out actual cases, and that would be it's purpose rather than maximizing it's own profit. This would be similar to the SAFU which Binance has launched, except it would cover multiple exchanges. There is little question whether the SAFU would pay out given a breach of Binance, and a similar argument could be made for a insurance fund managed by a collective of exchange operators or a government organization. While a third party insurance provider has the strong market incentive to provide the absolute minimum coverage and no market incentive to payout, an entity managed by exchange operators would have incentive to protect the reputation of exchange operators/the industry, and the government should have the interest of protecting Canadians.

On The Subject of Fractional Reserve
There is a long history of fractional reserve failures, from the first banks in ancient times, through the great depression (where hundreds of fractional reserve banks failed), right through to the 2008 banking collapse referenced in the first bitcoin block. The fractional reserve system allows banks to multiply the money supply far beyond the actual cash (or other assets) in existence, backed only by a system of debt obligations of others. Safely supporting a fractional reserve system is a topic of far greater complexity than can be addressed by a simple policy, and when it comes to cryptocurrency, there is presently no entity reasonably able to bail anyone out in the event of failure. Therefore, this framework is addressed around entities that aim to maintain 100% backing of funds.
There may be some firms that desire but have failed to maintain 100% backing. In this case, there are multiple solutions, including outside investment, merging with other exchanges, or enforcing a gradual restoration plan. All of these solutions are typically far better than shutting down the exchange, and there are multiple cases where they've been used successfully in the past.

Proof of Reserves/Transparency/Accountability
Canadians need to have visibility into the backing on an ongoing basis.
The best solution for crypto-assets is a Proof of Reserve. Such ideas go back all the way to 2013, before even Mt. Gox. However, no Canadian exchange has yet implemented such a system, and only a few international exchanges (CoinFloor in the UK being an example) have. Many firms like Kraken, BitBuy, and now ShakePay use the Proof of Reserve term to refer to lesser proofs which do not actually cryptographically prove the full backing of all user assets on the blockchain. In order for a Proof of Reserve to be effective, it must actually be a complete proof, and it needs to be understood by the public that is expected to use it. Many firms have expressed reservations about the level of transparency required in a complete Proof of Reserve (for example Kraken here). While a complete Proof of Reserves should be encouraged, and there are some solutions in the works (ie TxQuick), this is unlikely to be suitable universally for all exchange operators and users.
Given the limitations, and that firms also manage fiat assets, a more traditional audit process makes more sense. Some Canadian exchanges (CoinSquare, CoinBerry) have already subjected themselves to annual audits. However, these results are not presently shared publicly, and there is no guarantee over the process including all user assets or the integrity and independence of the auditor. The auditor has been typically not known, and in some cases, the identity of the auditor is protected by a NDA. Only in one case (BitBuy) was an actual report generated and publicly shared. There has been no attempt made to validate that user accounts provided during these audits have been complete or accurate. A fraudulent fractional exchange, or one which had suffered a breach they were unwilling to publicly accept (see CoinBene), could easily maintain a second set of books for auditors or simply exclude key accounts to pass an individual audit.
The proposed solution would see a reporting standard which includes at a minimum - percentage of backing for each asset relative to account balances and the nature of how those assets are stored, with ownership proven by the auditor. The auditor would also publicly provide a "hash list", which they independently generate from the accounts provided by the exchange. Every exchange user can then check their information against this public "hash list". A hash is a one-way form of encryption, which fully protects the private information, yet allows anyone who knows that information already to validate that it was included. Less experienced users can take advantage of public tools to calculate the hash from their information (provided by the exchange), and thus have certainty that the auditor received their full balance information. Easy instructions can be provided.
Auditors should be impartial, their identities and process public, and they should be rotated so that the same auditor is never used twice in a row. Balancing the cost of auditing against the needs for regular updates, a 6 month cycle likely makes the most sense.

Hot Wallet Management
The best solution for hot wallets is not to use them. CoinBerry reportedly uses multi-sig on all withdrawals, and Bitmex is an international example known for their structure devoid of hot wallets.
However, many platforms and customers desire fast withdrawal processes, and human validation has a cost of time and delay in this process.
A model of self-insurance or separate funds for hot wallets may be used in these cases. Under this model, a platform still has 100% of their client balance in cold storage and holds additional funds in hot wallets for quick withdrawal. Thus, the risk of those hot wallets is 100% on exchange operators and not affecting the exchange users. Since most platforms typically only have 1%-5% in hot wallets at any given time, it shouldn't be unreasonable to build/maintain these additional reserves over time using exchange fees or additional investment. Larger withdrawals would still be handled at regular intervals from the cold storage.
Hot wallet risks have historically posed a large risk and there is no established standard to guarantee secure hot wallets. When the government of South Korea dispatched security inspections to multiple exchanges, the results were still that 3 of them got hacked after the inspections. If standards develop such that an organization in the market is willing to insure the hot wallets, this could provide an acceptable alternative. Another option may be for multiple exchange operators to pool funds aside for a hot wallet insurance fund. Comprehensive coverage standards must be established and maintained for all hot wallet balances to make sure Canadians are adequately protected.

Current Draft Proposal

(1) Proper multi-signature cold wallet storage.
(a) Each private key is the personal and legal responsibility of one person - the “signatory”. Signatories have special rights and responsibilities to protect user assets. Signatories are trained and certified through a course covering (1) past hacking and fraud cases, (2) proper and secure key generation, and (3) proper safekeeping of private keys. All private keys must be generated and stored 100% offline by the signatory. If even one private keys is ever breached or suspected to be breached, the wallet must be regenerated and all funds relocated to a new wallet.
(b) All signatories must be separate background-checked individuals free of past criminal conviction. Canadians should have a right to know who holds their funds. All signing of transactions must take place with all signatories on Canadian soil or on the soil of a country with a solid legal system which agrees to uphold and support these rules (from an established white-list of countries which expands over time).
(c) 3-5 independent signatures are required for any withdrawal. There must be 1-3 spare signatories, and a maximum of 7 total signatories. The following are all valid combinations: 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7.
(d) A security audit should be conducted to validate the cold wallet is set up correctly and provide any additional pertinent information. The primary purpose is to ensure that all signatories are acting independently and using best practices for private key storage. A report summarizing all steps taken and who did the audit will be made public. Canadians must be able to validate the right measures are in place to protect their funds.
(e) There is a simple approval process if signatories wish to visit any country outside Canada, with a potential whitelist of exempt countries. At most 2 signatories can be outside of aligned jurisdiction at any given time. All exchanges would be required to keep a compliant cold wallet for Canadian funds and have a Canadian office if they wish to serve Canadian customers.
(2) Regular and transparent solvency audits.
(a) An audit must be conducted at founding, after 3 months of operation, and at least once every 6 months to compare customer balances against all stored cryptocurrency and fiat balances. The auditor must be known, independent, and never the same twice in a row.
(b) An audit report will be published featuring the steps conducted in a readable format. This should be made available to all Canadians on the exchange website and on a government website. The report must include what percentage of each customer asset is backed on the exchange, and how those funds are stored.
(c) The auditor will independently produce a hash of each customer's identifying information and balance as they perform the audit. This will be made publicly available on the exchange and government website, along with simplified instructions that each customer can use to verify that their balance was included in the audit process.
(d) The audit needs to include a proof of ownership for any cryptocurrency wallets included. A satoshi test (spending a small amount) or partially signed transaction both qualify.
(e) Any platform without 100% reserves should be assessed on a regular basis by a government or industry watchdog. This entity should work to prevent any further drop, support any private investor to come in, or facilitate a merger so that 100% backing can be obtained as soon as possible.
(3) Protections for hot wallets and transactions.
(a) A standardized list of approved coins and procedures will be established to constitute valid cold storage wallets. Where a multi-sig process is not natively available, efforts will be undertaken to establish a suitable and stable smart contract standard. This list will be expanded and improved over time. Coins and procedures not on the list are considered hot wallets.
(b) Hot wallets can be backed by additional funds in cold storage or an acceptable third-party insurance provider with a comprehensive coverage policy.
(c) Exchanges are required to cover the full balance of all user funds as denominated in the same currency, or double the balance as denominated in bitcoin or CAD using an established trading rate. If the balance is ever insufficient due to market movements, the firm must rectify this within 24 hours by moving assets to cold storage or increasing insurance coverage.
(d) Any large transactions (above a set threshold) from cold storage to any new wallet addresses (not previously transacted with) must be tested with a smaller transaction first. Deposits of cryptocurrency must be limited to prevent economic 51% attacks. Any issues are to be covered by the exchange.
(e) Exchange platforms must provide suitable authentication for users, including making available approved forms of two-factor authentication. SMS-based authentication is not to be supported. Withdrawals must be blocked for 48 hours in the event of any account password change. Disputes on the negligence of exchanges should be governed by case law.

Steps Forward

Continued review of existing OSC feedback is still underway. More feedback and opinions on the framework and ideas as presented here are extremely valuable. The above is a draft and not finalized.
The process of further developing and bringing a suitable framework to protect Canadians will require the support of exchange operators, legal experts, and many others in the community. The costs of not doing such are tremendous. A large and convoluted framework, one based on flawed ideas or implementation, or one which fails to properly safeguard Canadians is not just extremely expensive and risky for all Canadians, severely limiting to the credibility and reputation of the industry, but an existential risk to many exchanges.
The responsibility falls to all of us to provide our insight and make our opinions heard on this critical matter. Please take the time to give your thoughts.
submitted by azoundria2 to QuadrigaInitiative [link] [comments]

Getting paid in Bitcoin vs USDT. What would you choose?

Your employer offers you to get a part of you salary in either BTC or USDT. The payment will be made twice a month in equal shares. Your salary stays fixed in US dollars (so you don't just get a share of your salary tied to BTC) and the Bitcoin conversion rate will be calculated at the moment of payout (using the rate from, say, Binance). What would you choose? Getting paid in USDT or straight away in Bitcoin?
submitted by ChangeNow_io to Bitcoin [link] [comments]

Introducing the halvinggame.com: Put your money where your mouth is.

Introducing The Halving Game, a fun platform about anticipating the Bitcoin price.
Can you predict the BTC/USDT price on Binance at the time of halving on May 12? Then make your bet and win your share of the pot! It’s 100% anonymous, no email address required.
How does it work?
Everyone makes one or more bets with their own price prediction. At the time of halving (when block 630,000 hits), those bets within a +/- 2.5% range (target zone) around the Binance price will be paid out their share of the pot. For example, if the price at the time of the halving is 10,000 USDT, you would have your bet(s) placed between 9,750 USDT and 10,250 USDT (-2.5% to +2.5%). The minimum bet size is 1 bit, or 100 satoshi.
Weight factor
The weight factor spices things up even more and rewards older bets over younger ones, i.e the earlier you bet the greater your weight factor will be. For example, if you bet 14 days before the halving, the weight factor of your bet is 14.0. If you’re in the target zone, your share of the pot will be your bet multiplied by 14, so be quick because a bet only 7 days before the halving will have a weight factor of just 7.0. On the last day of the game, each bet only counts 1x.
TL;DR: Bet as early as possible to get the maximum output.
Payout calculation
After the halving, the pot is distributed to those players whose bets are within the price range. The formula for the payout is: sum of my weighted bets in target zone / sum of all weighted bets in target zone
Service fee
We’re charging a modest fee of 2% to operate the service and provide support. The service fee is deducted at the time of payout.
Good Luck!
The game starts today, 14 days before the halving and bets will be allowed until block 629995, 5 blocks until the halving.
Check it out at https://halvinggame.com. Follow us on twitter at https://twitter.com/HalvingGame
And now we wish you all good luck!
Also, any feedback is most welcome!
submitted by HalvingGame to HalvingGame [link] [comments]

04-28 11:24 - 'Introducing The HalvingGame.com: Put your money where your mouth is!' (self.Bitcoin) by /u/HalvingGame removed from /r/Bitcoin within 2-12min

'''
Introducing The Halving Game, a fun platform about anticipating the Bitcoin price.
Can you predict the BTC/USDT price on Binance at the time of halving on May 12?Then make your bet and win your share of the pot! It’s 100% anonymous, no email address required.
How does it work?
Everyone makes one or more bets with their own price prediction. At the time of halving (when block 630,000 hits), those bets within a +/- 2.5% range (target zone) around the Binance price will be paid out their share of the pot. For example, if the price at the time of the halving is 10,000 USDT, you would have your bet(s) placed between 9,750 USDT and 10,250 USDT (-2.5% to +2.5%). The minimum bet size is 1 bit, or 100 satoshi.
Weight factor
The weight factor spices things up even more and rewards older bets over younger ones, i.e the earlier you bet the greater your weight factor will be. For example, if you bet 14 days before the halving, the weight factor of your bet is 14.0. If you’re in the target zone, your share of the pot will be your bet multiplied by 14, so be quick because a bet only 7 days before the halving will have a weight factor of just 7.0. On the last day of the game, each bet only counts 1x.
TL;DR: Bet as early as possible to get the maximum output.
Payout calculation
After the halving, the pot is distributed to those players whose bets are within the price range. The formula for the payout [link]3 of my weighted bets in target zone / sum of all weighted bets in target zone
Service fee
We’re charging a modest fee of 2% to operate the service and provide support. The service fee is deducted at the time of payout.
Good Luck!
The game starts today, 14 days before the halving and bets will be allowed until block 629995, 5 blocks until the halving.
Check it out at [[link]4 .Follow us on twitter at [[link]5
And now we wish you all good luck!
Also, any feedback is most welcome!
'''
Introducing The HalvingGame.com: Put your money where your mouth is!
Go1dfish undelete link
unreddit undelete link
Author: HalvingGame
1: ha*vinggam*.*o*/ 2: twitter.*om/*al*i**G*me 3: is:sum 4: h*lvi*gg*me.*om]^^* 5: twit*e*.c*m/Ha**ingGame**^2
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Sidex Finance BoT Review

Sidex Finance Bot Review

I recently discovered a crypto trading bot that runs on the telegram desktop and mobil app, called the Sidex Finance Bot. I did a little research and couldn't find any real reviews of the Sidex Bot. There are a few out there but they are all just copy / paste pages on websites that explain the basic details of Sidex Finance and their promises etc. After about a week of reading chat comments on the Sidex Chat thread (on telegram) I decided to transfer over $20.00 from my binance account and see what happens.
The Sidex Bot promises to pay you out hourly with some impressive rates. (the below info may not make perfect sense as I copied it from a telegram chat) but its fairly accurate and serves our purposes here.
💸Minimum Invest: $5 (there are different hourly payouts for different amounts invested)
➖Minimum Withdraw: $2
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
☑️ínvєstmєnt plαns
➤0.15% Hourly / Forever
➤0.25% Hourly / Forever
➤0.35% Hourly / Forever
➤0.45% Hourly / Forever
➤0.55% Hourly / Forever
➤0.65% Hourly / Forever
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
👥Referral System: 8-3-1%
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
📌Payment Accepted
═➤Bitcoin
═➤Payeer
═➤Litecoin
═➤Ethereum
═➤Perfect Money

So , I transferred my $20.00 from binance to the Sidex wallet address that I was provided in the sidex finance bot chat. The transaction went through within a couple minutes. I didnt pay attention and I ended up paying a higher fee than I needed to so my actual amount that hit the Sidex wallet was about $16.37 which was crazy that I paid that much in fees but whatever its only a couple bucks and this was more for experimenting anyway.
Once you get your verification from Telegram that your BTC or ETH or whatever has hit their wallet, you then need to go into the app and "create a deposit" in order for the bot to begin trading (i assume its trading)
You'll will also be show a number that says "X Amount" paid hourly, my number was 0.0246 cents (USD) paid per hour against my "investment" of $16.37
Does it pay?
So far, yes! After an hour of running the bot I got my first notice on my phone that my account had a "deposit accrual : 0.0246" and its been happening every hour since I created my deposit on Dec. 14th 2019.
So, is Sidex Finance Bot a Scam? at this point I have to say, from my experience, no.
I plan to transfer over another $100.00 , which should yield me $3.60 per day according to the calculator located inside the bot. (The key is to build up enough to "reinvest" and begin making more back. Because the minimum "investment" on Sidex Finance Bot is $5.00 , I want to be able to reinvest as quickly as possible without assuming too much risk.
I will be updating this community with info about my experiences with Sidex Finance Bot as often as I can, but for now since I figured you are doing research about Sidex Finance Bot, all I can tell you from my experience is that the bot appears to be legit (I make no claims other than , it appears to be legit) . The Chatroom / thread on telegram is pretty active, theres plenty of people posting screen shots of verified payments (again always take this with a grain of salt) I hate to think to the worst of people but you just never know with the internet and the wild west crypto world that we are currently experiencing.
If you are still curious about the Sidex Finance Bot you can sign up here on the website
https://sidex-finance.com/?ref=7114
Or you can jump strait to the telegram app here
(your'e going to need the telegram app installed on your phone or computer)
https://telegram.me/sidex_finance_bot/?start=7114
Non of this should be considered financial advice or a "recommendation" of Sidex Finance Bot, you should always do your own research before investing money. Don't ever invest more than you can comfortably afford to loose.
submitted by tomsurfsoc to SidexFinance [link] [comments]

Explaining the COSS Token: Imagine earning a piece of Binance or Coinbase's profits

Before you read this, I am invested in COSS and the main purpose of this thread is to explain/discuss the potential of exchanges that offer a split of their earnings to token holders. So please take my information with a grain of salt and do your own extended research. I will start with the basics.
The COSS Exchange:
The COSS exchange is a Cryptocurrency exchange based out of Singapore. The exchange is fully compliant with the Monetary Authority of Singapore (MAS). Currently the exchange has approximately 80 or so trading pairs with a total volume of about 2 to 4 Million USD daily. The exchange can be accessed by visiting the official website at https://www.coss.io. The exchange aims to launch Fiat trading in the coming month and will allow purchasing of Bitcoin, Ethereum and COSS using a credit card directly. To implement this new Fiat trading they will also be launching a newly redesigned landing page/dashboard UI. The long-term goal of the exchange is to be a Crypto One Stop Solution (hence the name COSS) by offering all services a general investouser would need in the cryptocurrency world. This includes services such as operating an exchange, buying cryptocurrencies using FIAT, selling cryptocurrencies back to FIAT, operating a payment gateway for merchants, and several other features. However, for now, the team has decided to take things one step at a time. Their primary focus currently is adding FIAT and KYC regulation along with improving the exchange. For more information regarding the trading pairs available on the exchange, or to view the current volume of trading on the exchange you can see the Coinmarketcap volume/exchange ranking page here: https://coinmarketcap.com/exchanges/coss/
The COSS Token:
The COSS token is an Ethereum based ERC223 token. The token can be purchased directly on the COSS exchange at https://www.coss.io or on HitBTC. The COSS token can be categorized as a dividend token because every COSS token holder earns a split of the fees taken on the exchange through trading. The total supply of the COSS token is 200,000,000 tokens. Of the total supply somewhere less than 100,000,000 COSS tokens are currently in circulation. Coinmarketcap doesn’t show the numbers accurately yet and the COSS team has requested them to fix the numbers. See the coinmarketcap listing of the COSS token here: https://coinmarketcap.com/currencies/coss/
The Exchange Dividends (Officially called fee split allocation or FSA):
I’m going to start with a very simple explanation here. Let’s assume the exchange has only one trading pair: BTC/ETH. Now this trading pair has a volume of 10M USD this week with 5M USD being Bitcoin volume and 5M USD being Ethereum volume. If we say the exchange takes only a 0.1% fee from traders, then this week the exchange earned (0.0015M USD BTC) 5000$ BTC and (0.0015M USD ETH) 5000$ ETH. So, in total the exchange earned 10000$ this week. Half of the split goes to the COSS exchange and the other half goes to token holders. In this case 5000$ (2500$ worth of BTC + 2500$ worth of ETH) will go to token holders. Now let’s assume there are only 10 COSS tokens that exist. The Fee split will be divided among the 10 Tokens, so each token will earn you a fee split of (5000$/10) 500$. So, an investor holding 3 tokens would earn 1500$ (750$ worth of BTC and 750$ worth of ETH) this week and an investor holding 1 token would earn 500$ this week. Basically, the token holder will get a split of both the coins in the trading pair. Now if we take this example and apply it to 80 other trading pairs you can imagine earning a small portion of every possible coin traded on the COSS exchange and earning more coins of the coins that have the most volume. In the case of the COSS exchange you will mostly earn in the top coins such as BTC and ETH as these are the common trading pairs against every coin on their exchange. In this example 5000$ was split among token holders. If we change the daily volume from 10M USD to 100M USD then the fee split to token holders would be 50,000$ and so on. The more the volume the more the fee split token holders will earn.
Competitors:
COSS has only one direct competitor that is offering a similar model, Kucoin. Kucoin seems to be the more established exchange of the two and is also a good investment that offers fee split dividends. However in the long run Kucoin will switch to a 15% dividend payout model while COSS will be 50% dividend permanently. Kucoin currently has a volume of 30-40 Million USD which is approximately 10x the volume of the COSS exchange. The Kucoin token is valued at 10x more than COSS which is self-explanatory based on the volume difference. COSS however has two long term advantages over Kucoin, 1 is that it is a fully compliant exchange that will have less legal hurdles when/if regulation comes for the exchanges. Secondly COSS will offer FIAT trading pairs very soon, being able to buy crypto directly on their exchange will bring more volume to the exchange and will keep volume on the exchange as users will be able to sell back to FIAT as well.
Summary (TLDR)
The COSS exchange is a cryptocurrency exchange that offers a Ethereum ERC223 token (The COSS token). Investors that hold COSS tokens earn a weekly profit share (Through Fee split allocation) of all the traded coins on their exchange. The more the volume of one coin the more of that coin you earn in the weekly dividend. You will earn a piece of every coin on their exchange while mostly earning BTC and ETH as those are the primary traded coin pairs.
Useful Links:
COSS Exchange: https://www.coss.io Dividend calculator: https://www.coss-stats.com Exchange volume: https://coinmarketcap.com/exchanges/coss/ Token statistics: https://coinmarketcap.com/currencies/coss/
The biggest takeaway is to imagine if you earned a little bit of Binance's weekly profits, you would be making enough money weekly to retire. COSS is not at that level yet, but with the expected growth of Cryptocurrency over the next few years there will be room for many many exchanges and COSS will probably be one of them.
submitted by blockchainguy101 to CryptoCurrency [link] [comments]

Top 10 Affiliate Programs to Earn Bitcoin

Top 10 Affiliate Programs to Earn Bitcoin

https://preview.redd.it/r59lj11bjjx31.png?width=563&format=png&auto=webp&s=f2ddf550d8fc01e63928de67693c2c2c15d125da
When we launched the Redeeem affiliate program we did a lot of research on other crypto companies, and what their affiliate policies were. We studied the many structures to an affiliate program, and we made a list of the top 10 crypto affiliate programs.
A few popular affiliate program models:
  1. Recurring Revenue Model - you have a unique URL affiliate link, and when you send it to people their account is linked to yours, and you get a percentage of whatever they spend or trade during their time. Sometimes this can be time limited (for 30 days), but typically goes for the life of the person you refer. Typically referral fees are taken from the company, so the company might advertise as 30% of Company's revenue, or it may say 1% of money spent on the platform.
  2. Initial payout Model - this is the most popular and simplest model for paying affiliates. A simple pay per sign up, typically between $5 and $15 per sign up you get. However, rarely will you get paid just for the signup, instead the new user must complete some "engaging action" on the website - a purchase, a trade, or a post.
  3. Multi-tiered Revenue Model - this is an extrapolated model from the recurring revenue model, where there are multiple tiers, or levels, so you get paid for the people who get referred by the people you refer. Typically it's a smaller % for the indirect tier, since you didn't do any work, but it does incentivize people to find the power players and refer them to the website.
Below are the Top 10 Affiliate Programs to Earn Cryptocurrency that we've found. Granted there are many affiliate programs out there, but if you're looking to start a blog, Youtube channel, or other content idea to get paid through affiliate links, check these out first.

LocalBitcoins
https://localbitcoins.com/

https://preview.redd.it/0zy08bsxjjx31.png?width=504&format=png&auto=webp&s=30b0b2f9c140d681a3dd9330f7b44d1d433dbe14
LocalBitcoins is a peer-to-peer trading site for bitcoin to 100's of other currencies. A fantastic option to get access to bitcoin.
LocalBitcoins offers a 20% commission for your affiliates directly to your Local Bitcoins wallet. If you refer both a buyer and seller, you will get a commission from both referrals or 40% of the total transaction. Payouts will be paid daily to your LocalBitcoins wallet for one (1) year from user's registration.

Redeeem
https://www.redeeem.com/

https://preview.redd.it/26jy3yj4kjx31.png?width=508&format=png&auto=webp&s=30d1d56ceba2ea9cc405af6729cce46248d1f5ad
Founded in 2018, Redeeem is a fast, safe and easy way to buy and sell gift cards using cryptocurrencies. The goal is to accelerate the adoption of Bitcoin into the global economy and showcase its endless potential.
For every person that signs up with your affiliate link you earn 1% of their total crypto trade volume, paid nightly in bitcoin. This has no expiration nor limits so you continue to earn passively as long as your old and new affiliates trade.

Abra
https://www.abra.com/


Founded in 2014 by Bill Barhydt, serial entrepreneur and global mobile-banking veteran, our team is based in Silicon Valley and committed to forever changing how the world moves money.
Abra's Affiliate Program lets you offer a $25 joining bonus to your referrals, and earn $25 for each affiliate that will sign up using your Referral Link. For affiliates and new users to receive their $25, they must either 1) Deposit a minimum of $5 to their Abra wallet via a US bank account or eligible American Express card; Or 2) Deposit crypto and exchange it to other assets EXCEPT for BTC, BCH, ETH or LTC. This option will allow the referrer and referred to receive 0.75% of the exchange total, up to $25. The referred user must also have accrued a minimum of $5 in rewards to receive the payment.

Binance
https://www.binance.com/en

https://preview.redd.it/41719u90ljx31.png?width=1284&format=png&auto=webp&s=beda5720d18f614ed2621b36ce32d6fd9e1fb025
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies. Since early 2018, Binance is considered as the biggest cryptocurrency exchange in the world in terms of trading volume.
Inviters and referrals can share up to 40% referral commissions from their trading fees under Binance's upgraded Referral Program. Inviters can choose to share a portion of the commissions received of the friends they invite and set the sharing rate as 0%, 5% or 10% (for inviters with daily average BNB of less than 500, and base referral rate is 20%). For inviters that have a daily average BNB of more than 500, their base referral rate is bumped up to 40% and have the option to share 15% or 20% with their referrals.
All referral commissions (both those received by inviters and those shared with their invited friends) are calculated in real-time and transferred to the respective Binance accounts every hour from 12:00 AM until 1:00 AM (UTC) of the next day.

CEX.IO
https://cex.io/

https://preview.redd.it/tu065lucljx31.png?width=1115&format=png&auto=webp&s=ae09a725648954d62c055a3090fb61b56a2d189c
Established in 2013 as the first cloud mining provider, CEX.IO has become a multi-functional cryptocurrency exchange, trusted by over a million users. CEX.IO offers cross-platform trading via website, mobile app, WebSocket and REST API, providing access to high liquidity orderbook for top currency pairs on the market.
Current Affiliate program offers a 30% commission on the fee of exchange transactions of every new user that signs up with your Referral link.
Changelly
https://changelly.com/

https://preview.redd.it/og6x94thljx31.png?width=1208&format=png&auto=webp&s=c462b8dd39c33026ab3f33f42c6369e60a23bff9
Changelly is a non-custodial instant cryptocurrency exchange. They act as an intermediary between crypto exchanges and users, offering access to 130+ cryptocurrencies. The company mission is making exchange process effortless for everyone who wants to invest in cryptocurrency. Operating since 2015, the platform and its mobile app attract over a million visitors monthly who enjoy high limits, fast transactions, and 24/7 live support.
Loyal customers get a special feature in the Affiliate Program. Customers who share their affiliate link or add the Changelly widget can get 50% profit from every transaction made by new users that signed up via your referral link. The link is permanent, and the reward is given in bitcoin equivalent.

YouHodler
https://www.youhodler.com/

https://preview.redd.it/5re0e4zxljx31.png?width=980&format=png&auto=webp&s=a9e260730dbd4fa50069875cd9fc8c612c468499
YouHodler is a Blockchain-based Financial Ecosystem focused on cryptocurrency-backed lending with fiat loans. YouHodler lending platform provides USD and/or EUR loans, secured by collateral in BTC, ETH, XRP, and other popular cryptocurrencies.
The YouHodler Referral Program allows you to earn $25 with each successfully activated account from your referral link and promo code. Everyone that follows your link and activates their account (funding their account and using at least one product such as Turbocharge or conversion) also gets $25 instantly. Aside from the instant reward, you can also receive 50% in average of YouHodler's revenue from the next 10 products your invitee gets.

Cryptohopper
https://www.cryptohopper.com/

https://preview.redd.it/clq699w4mjx31.png?width=1189&format=png&auto=webp&s=b194202d7997a07391abf28f7aa2ba4946c30d0c
Cryptohopper was started by two brothers. After hearing about the opportunities of cryptocurrencies for the first time, they were hooked. One of them was successful as a daytrader. The other brother, a brilliant web developer, didn't have the funds to invest. This got him thinking, what if there was a way to let a bot trade for you. It would work 24/7, trading as many coins as you wanted it to, constantly monitoring the market.
You can earn a minimum of $1.90 a month for each user who signs up for an Explorer Hopper, $4.90 for each Adventure Hopper referral and $9.90 for each Hero! To maximize your earnings, each referral will also earn you up to 15% over each of their payments, including; signals, strategies and marketplace items. It all counts.

Trezor
https://trezor.io/

https://preview.redd.it/boazp1gamjx31.png?width=1044&format=png&auto=webp&s=97a64a99b3233f28b25e3226c09ad19823c4b465
Trezor is a Bitcoin hardware wallet and launched in August 2014. It was the first Bitcoin hardware wallet, offering secure cold storage plus the ability to spend with the convenience of a hot wallet.
You will earn 12% - 15% referral commission for each sale. (net sale amount, excluding VAT and shipping). Monthly payouts via wire transfer or Bitcoin. Wire Transfer (USD, EUR and CZK) or Bitcoin.

Coinhouse
https://www.coinhouse.com/

https://preview.redd.it/w3bb6fggmjx31.png?width=1136&format=png&auto=webp&s=a69f7cc478dbcb1b46e858c7c0a10b36d38cddf1
Founded in 2014 in Paris, Coinhouse is a pioneer in cryptoassets investments. Both an online platform and a brick-and-mortar location, Coinhouse is the trusted partner for individuals and qualified investors looking to analyse, acquire, sell, and securely store cryptoassets.
Earn 30% commission on your clients’ transactions for 1 year when they sign up using your unique and personalized tracking link. Get paid directly in Bitcoin to optimize your income.
submitted by levi_d-19 to Redeeem [link] [comments]

Getting ready for taxes. Need good reporting service/software.

Another year is almost finished and it's time to prepare for taxes. Honestly, I don't even want to think about all the accounting that has to be done. I don't trust that my tax person can figure this out and I don't want to pay them to learn and calculate.
In addition to the multiple payouts per day from mining RVN, I did do some trading earlier in the year using my Binance account. I also mined Eth up until the point that I learned about RVN.
What's the best service/software that can handle all of this? Research shows that cointracker.io is popular, but with multi-daily RVN payouts, I'm thinking I would have to use their $149 (1,000 transaction) account. I've seen positive reviews of bitcoin.tax.
Is there anything better out there? Suggestions?
Thanks!
submitted by RyanWonder to Ravencoin [link] [comments]

Jim Preissler, CEO AMA Session On Telegram, Friday 13 July 2018 - Everything!

For those of you who like to go through everything in their correct order to get context, here is the full AMA from beginning to end. Knock yourself out.

Jim Preissler, [14.07.18 00:01]
Hi everyone
Scarlet ~ trade.io Admin, [14.07.18 00:01]
[In reply to Henry]
The first 1000 will receive email either on 16 or 17, but before exchange actually launch.
Dustin McDaniel, [14.07.18 00:01]
Jim in the house! ??
Crypto Bling, [14.07.18 00:01]
Hi jim
trade.io, [14.07.18 00:01]
Hello Jim!
Scarlet ~ trade.io Admin, [14.07.18 00:01]
[ GIF ]
TSas, [14.07.18 00:01]
Hello Jim
S Aggarwal, [14.07.18 00:02]
Hello jim
Satish, [14.07.18 00:02]
Wassup man!
Jim Preissler, [14.07.18 00:02]
Been busy getting ready for the launch and signing some more partnerships for us
Hiro S, [14.07.18 00:02]
Hi Jim
Jim Preissler, [14.07.18 00:02]
Good morning / afternoon / evening / go to bed to all of you!
Dustin McDaniel, [14.07.18 00:03]
[In reply to Jim Preissler]
[ GIF ]
Le Tai, [14.07.18 00:03]
Hi Jim
Jim Preissler, [14.07.18 00:03]
[In reply to Dustin McDaniel]
yeah, thats exactly how I feel
Ro$€, [14.07.18 00:04]
Nice to hear the new partnerships
S Aggarwal, [14.07.18 00:05]
Hey
S Aggarwal, [14.07.18 00:05]
Jim can u tell me which all coins will be listed intialy??
Jim Preissler, [14.07.18 00:06]
[In reply to S Aggarwal]
Initial will be the basic, big coins, but then will roll out a ton after, especially ERC20
Jim Preissler, [14.07.18 00:06]
Have a bunch of listings and ICO clients that will come out quickly as well
trade.io, [14.07.18 00:06]
Hi Jim, here's a question and a suggestion from Phil(@PhilWall10):
  1. When the calculator will be available for the lp pool?
  2. I would like to see a 1% bonus for the first day that the exchange is Trading ,just for investors that held over 25,000 Tio's something like that would be nice.
Zeep, [14.07.18 00:06]
hi Jim
S Aggarwal, [14.07.18 00:07]
[In reply to Jim Preissler]
I am asking for those 10 basis ones
Jim Preissler, [14.07.18 00:07]
[In reply to S Aggarwal]
is there a particular one that you are driving towards?
S Aggarwal, [14.07.18 00:07]
Eos
S Aggarwal, [14.07.18 00:07]
Xrp
Paul Johnson -trade.io, [14.07.18 00:08]
I can help out here, as the list came up a short time ago:
BTC - Bitcoin
BCH - Bitcoin Cash
ETH- Ethereum
LTC - Litecoin
TIO - TradeToken
USDT - May be available right at launch or at the very least within 2-3 days following launch
TSas, [14.07.18 00:08]
Jim, here's a question: What are the plans with FX Primus?
Jim Preissler, [14.07.18 00:08]
[In reply to S Aggarwal]
Both those require testing, ERC20 will be sooner
S Aggarwal, [14.07.18 00:08]
[In reply to Jim Preissler]
K
Dustin McDaniel, [14.07.18 00:09]
Jim, Can you speak any on the progress with regards to regulations in the various jurisdictions? Which jurisdictions is trade.io currently focusing on, or which is top priority at the moment?
S Aggarwal, [14.07.18 00:09]
Also can u please tell me approx figures u have earned out of ico consultantancy..? Just to have a idea about profit in ico
S Aggarwal, [14.07.18 00:10]
Also what is your status for regulatory licences??
Jim Preissler, [14.07.18 00:10]
[In reply to Dustin McDaniel]
Working on HK, Singapore, Switzerland, Malta right now as the bigger ones. Smaller ones as well. We are meeting with regulators in the US as well
HODL Droid, [14.07.18 00:10]
[In reply to Dustin McDaniel]
Same question + will TIO be tradeable with other comodities listed under FX Primus ?
Jimmy Choo, [14.07.18 00:10]
Hello, Jim.
My question is : After the exchange has been launched, how is the price movement of TIO in the future?
S Aggarwal, [14.07.18 00:10]
Are u also acuiring one for india??
Ro$€, [14.07.18 00:10]
I want to ask when can we have the new Roadmap?
S Aggarwal, [14.07.18 00:11]
[In reply to S Aggarwal]
@JimPreissler
Scarlet ~ trade.io Admin, [14.07.18 00:11]
Lets hold until Jim clears these questions.
Jim Preissler, [14.07.18 00:12]
[In reply to Jimmy Choo]
you tell me
Ro$€, [14.07.18 00:12]
[In reply to Jim Preissler]
:))
Jim Preissler, [14.07.18 00:12]
[In reply to S Aggarwal]
India is unclear as to regulations right now
Jim Preissler, [14.07.18 00:12]
[In reply to Ro$€]
After exchange and LP launches
Le Tai, [14.07.18 00:13]
When exchange platform support fiat? Thank you
Jim Preissler, [14.07.18 00:13]
[In reply to HODL Droid]
@biggiepaul will get back to you
S Aggarwal, [14.07.18 00:14]
[In reply to S Aggarwal]
@JimPreissler please answer this as well
Jimmy Choo, [14.07.18 00:14]
[In reply to Jim Preissler]
Do you not have any estimation for it?
Jim Preissler, [14.07.18 00:14]
[In reply to Le Tai]
soon, there is no regulatory issue, just want to scale into features
Paul Johnson -trade.io, [14.07.18 00:14]
[In reply to HODL Droid]
Most likely not, as its a crytpo asset so it will be traded against other cryptos.
Ro$€, [14.07.18 00:15]
[In reply to Jim Preissler]
Can you clearer on that? Will we have connect with bank account, convert directly into fiat?
S Aggarwal, [14.07.18 00:15]
@JimPreissler what is the ETA for decentralised exchange??
Hai Nguyen, [14.07.18 00:15]
Hi Jim, could you tell me when LP will full launch? After 30 days of exchange? And the profit of LP will count from the 1st day of exchange launch?
Morbidus, [14.07.18 00:16]
Will Trade.io move to comply with the SEC and other regulatory bodies worldwide as they ask for information on customer protections, etc?
TSas, [14.07.18 00:16]
[In reply to TSas]
Answer pls Jim
Paul Johnson -trade.io, [14.07.18 00:16]
Guys, kindly hold off on the rapid fire q's, pls let Jim answer one at a time
Jim Preissler, [14.07.18 00:16]
[In reply to Hai Nguyen]
profit starts immediately, LP will launch after 30 days
Hai Nguyen, [14.07.18 00:17]
[In reply to Jim Preissler]
Full launch or Beta launch?
Paul Johnson -trade.io, [14.07.18 00:17]
[In reply to Jimmy Choo]
Impossible to know, however, we are actively exploring moving TIO to exclusively to be traded on trade.io exchange and delist from other exchanges, for more control over price manipulation.
Jim Preissler, [14.07.18 00:17]
[In reply to Morbidus]
Already started, meetings already happening. We will do what we can to eliminate insider trading, wash trading, bots, fake volumes, all the bad things that hurt customers and plague other exchnges
Paul Johnson -trade.io, [14.07.18 00:18]
[In reply to S Aggarwal]
There is no ETA at this time, we're fully focused on making sure we have a flawless centralized exchange and execute on the liquidity pool.
Jim Preissler, [14.07.18 00:18]
[In reply to Hai Nguyen]
there is no more beta, full launch is next week
Dustin McDaniel, [14.07.18 00:18]
[In reply to Jim Preissler]
????
Hai Nguyen, [14.07.18 00:19]
[In reply to Jim Preissler]
I mean the about the LP
Morbidus, [14.07.18 00:19]
[In reply to Jim Preissler]
great thanks
Crypto Bling, [14.07.18 00:19]
[In reply to Jim Preissler]
Sweet????
Tommy Vu, [14.07.18 00:19]
[In reply to Jim Preissler]
??????
Jim Preissler, [14.07.18 00:19]
[In reply to Hai Nguyen]
profits start accumulating next week
Ro$€, [14.07.18 00:19]
[In reply to Paul Johnson -trade.io]
Whats solution in the future to avoid sth like Bitforex?
S Aggarwal, [14.07.18 00:19]
@JimPreissler will Tio offer margin trading??
" Not giving away CS, CAS and TIO", [14.07.18 00:19]
When 1 tio
Zeep, [14.07.18 00:19]
how much coin exchange?
Jim Preissler, [14.07.18 00:19]
[In reply to Ro$€]
they picked us up on their own
S Aggarwal, [14.07.18 00:20]
And What about futures and options (F&O)[email protected]
Jim Preissler, [14.07.18 00:20]
[In reply to S Aggarwal]
We will, working with risk mgmt to get it structured
Paul Johnson -trade.io, [14.07.18 00:20]
[In reply to Ro$€]
Impossible to prevent a supposed decentralized exchange from listing TIO
Jim Preissler, [14.07.18 00:20]
[In reply to S Aggarwal]
Talking to some vendors specifically about this as possible partners
Jimmy Choo, [14.07.18 00:20]
[In reply to Paul Johnson -trade.io]
Thank you, Jim.
Hope exchange is a hit. ??
Paul Johnson -trade.io, [14.07.18 00:21]
[In reply to Hai Nguyen]
LP not sooner than 1 month following exchange launch
Paul Johnson -trade.io, [14.07.18 00:21]
[In reply to Jimmy Choo]
It will be unlike anything anyone has seen yet.
Dustin McDaniel, [14.07.18 00:21]
[In reply to Jim Preissler]
Maybe question is about the launch only being for 1000 people. Is LP being targeted launching 30 days after July 17th? or after it is fully available unlimited>
S Aggarwal, [14.07.18 00:21]
@JimPreissler will Tio have algo trading??
Zeep, [14.07.18 00:21]
jim. how much coin exchange?
Jim Preissler, [14.07.18 00:22]
[In reply to Dustin McDaniel]
the limitation to 1000 is not really for technology reasons, its more to allow customer support to get feet under them before we pummel them
Hiro S, [14.07.18 00:22]
Jim, I know this a tough one, but there is a lot of specuative thoughts around what LP will share when it starts, and I saw way too optimistic, in my view. Today, the expectation of nothing will be distributed on the first month and lots will be distributed that will make TIO moon are two events of equal probability, at least for me. Can give us a better directions that any of this outcome is not a 50/50 probability? Or being more direct, how much can we expect from LP daily payouts in the first month? Nothing at all? Something more than current airdrops program? Or much more than current airdrops? thank you.
Jim Preissler, [14.07.18 00:22]
[In reply to S Aggarwal]
talking to a partner on that currently as well
Hai Nguyen, [14.07.18 00:22]
[In reply to Jim Preissler]
I mean which version of LP will launch after 30 days of exchange full launch? Beta version LP or full version LP? I see the new road map on trade.io website, it has beta LP.
Paul Johnson -trade.io, [14.07.18 00:23]
[In reply to Hai Nguyen]
there is only a full version of LP, there is no beta version of LP
Zeep, [14.07.18 00:23]
jim. how much coin list on exchange?
Dustin McDaniel, [14.07.18 00:23]
[In reply to Jim Preissler]
Fantastic
S Aggarwal, [14.07.18 00:23]
@JimPreissler just a confirmation that u have wavied trading fee but we will get other income like spread in lp for 17 july to 17 aug (30 days after launch)??
Crypto Bling, [14.07.18 00:23]
[In reply to Jim Preissler]
Nice????
Jim Preissler, [14.07.18 00:23]
[In reply to Hiro S]
The exchange needs to ramp and generate volume, then the LP will have meaningful distributions
Grimlock, [14.07.18 00:24]
[In reply to Paul Johnson -trade.io]
not sooner or not later?
Hai Nguyen, [14.07.18 00:24]
[In reply to Paul Johnson -trade.io]
??, thank you.
Paul Johnson -trade.io, [14.07.18 00:24]
[In reply to Dustin McDaniel]
Note, that its 1K on Day 1, looking to open up to many thousands, within only a few days following launch
Jim Preissler, [14.07.18 00:24]
[In reply to Zeep]
depends on volume and user base of the coin. send details to [[email protected]](mailto:[email protected])
TSas, [14.07.18 00:24]
Jim, what are the plans with FX Primus?
Paul Johnson -trade.io, [14.07.18 00:25]
[In reply to TSas]
Hey Tsas, i can help with that one.
Jim Preissler, [14.07.18 00:25]
[In reply to S Aggarwal]
correct, only trading fee waived initially
Paul Johnson -trade.io, [14.07.18 00:25]
[In reply to TSas]
The current initiative with FXP, is to accept TIO as a deposit method, then eventually allow TIO to be traded on the platform.
Ro$€, [14.07.18 00:25]
Which users will have profit from LP in the first 2 months? Only the first 1000? Any new formula to calculate
S Aggarwal, [14.07.18 00:26]
[In reply to Jim Preissler]
Thanks for confirmation
Paul Johnson -trade.io, [14.07.18 00:26]
[In reply to Grimlock]
Definitely not sooner, and might be later.
Dustin McDaniel, [14.07.18 00:26]
[In reply to Paul Johnson -trade.io]
Thank you, now knowing that is is limited release based mainly to help support team, it is a lot clearer.. Gives assurance that team is confident on the technology side
TSas, [14.07.18 00:26]
[In reply to Paul Johnson -trade.io]
?? thanks
Paul Johnson -trade.io, [14.07.18 00:26]
[In reply to Paul Johnson -trade.io]
No worries though, as revenue generated will be calculated from Day 1 of the launch
Jim Preissler, [14.07.18 00:27]
Obviously, the success of the LP is directly tied to success of exchange
Grimlock, [14.07.18 00:27]
[In reply to Jim Preissler]
and vice versa i suppose
Jim Preissler, [14.07.18 00:27]
[In reply to Dustin McDaniel]
People harder to scale then tech
Paul Johnson -trade.io, [14.07.18 00:27]
[In reply to Dustin McDaniel]
Correct, there is no level of training that can prepare support/finance, etc. once live users come through the door. This is not our first rodeo with running brokerages, so we understand its a completely different ballgame once the bright lights are on.
S Aggarwal, [14.07.18 00:28]
@JimPreissler will there be something which tells the days profit with its details for transperancy before lp launch?
Dustin McDaniel, [14.07.18 00:28]
[In reply to Paul Johnson -trade.io]
so, revenue generated to this point, through ICO consultancy, etc... is not included in LP? Only what is generated after exchange launch?
S Aggarwal, [14.07.18 00:28]
[In reply to Dustin McDaniel]
They said eariler it will be included
Ro$€, [14.07.18 00:28]
[In reply to Dustin McDaniel]
As i remember, it is included
Jim Preissler, [14.07.18 00:28]
[In reply to S Aggarwal]
There will be a LP distribution amount widget, but not promising that before LP launch
Paul Johnson -trade.io, [14.07.18 00:29]
[In reply to Dustin McDaniel]
I stand corrected, you're correct, ICO consultancy rev's will be included regardless when exchange launches.
Jim Preissler, [14.07.18 00:29]
[In reply to Dustin McDaniel]
its included
Dustin McDaniel, [14.07.18 00:29]
You guys ROCK!!
Crypto Bling, [14.07.18 00:29]
[In reply to Dustin McDaniel]
+1
Grimlock, [14.07.18 00:29]
????????????????????????????
Ro$€, [14.07.18 00:29]
Which users will get it and how?
Tommy Vu, [14.07.18 00:30]
[In reply to Crypto Bling]
??
Jimmy Choo, [14.07.18 00:30]
[In reply to Dustin McDaniel]
+10
Paul Johnson -trade.io, [14.07.18 00:30]
[In reply to Crypto Bling]
[ Photo ]
S Aggarwal, [14.07.18 00:30]
Is there any hardware wallet also as a gift from selfkey partnership??
S Aggarwal, [14.07.18 00:30]
Like airdrop
Jim Preissler, [14.07.18 00:30]
[In reply to S Aggarwal]
? not sure of Q
Ro$€, [14.07.18 00:31]
My question pls Jim
Hai Nguyen, [14.07.18 00:31]
How is about Blossom wallet?
Ro$€, [14.07.18 00:31]
[In reply to Ro$€]
..
S Aggarwal, [14.07.18 00:32]
Can u please tell security measures taken for exchange... As these days many exchanges are being hacked even the so called best exchange i.e. binance , bancor etc
Jim Preissler, [14.07.18 00:32]
[In reply to Hai Nguyen]
That wallet is under development, which makes it easier to participate in ICOs, have KYC, etc.
Dustin McDaniel, [14.07.18 00:32]
[In reply to S Aggarwal]
And on that note....
Are there plans to provide insurance against hacking? If wallets get hacked is it guaranteed that owners will get all their tokens back? One suggestion is that part of the undistributed funds from the LP (due to tiers with percentages less than 100%) can be used to offer such insurance, If unnecessary...if not, could be retained by the company …Security is obviously of the utmost importance especially if trade.io is targeting institutional investors. This insurance would bring extra peace of mind.
Johnson, [14.07.18 00:33]
Jim, what measures will be taken to boost the trading volume of TIO token after launch of exchange. With liquidity pool, I think the volume might be very low as it is today
DeviLpaL ~ trade.io Moderator, [14.07.18 00:33]
Hold on guys. Let jim answer Q one by one
Hiro S, [14.07.18 00:33]
There was some thoughts that running costs would eat up the revenues that was already generated from consultancy arm that would left very few to be distributed. COuld you tell us this is not the case? And in general, costs to be subracted from LP is only direct costs that affects it, could you confirm that as well? thank you.
Jim Preissler, [14.07.18 00:33]
[In reply to S Aggarwal]
We have inhouse, outside team, cloudflare, fireeye, etc.
S Aggarwal, [14.07.18 00:34]
[In reply to Dustin McDaniel]
I think the undistributed profit (as for those having less than 100%) will add to profit of next day
Grimlock, [14.07.18 00:34]
[In reply to Jim Preissler]
the important question is still: in case of any hacking, are we guaranteed our tokens back?
Paul Johnson -trade.io, [14.07.18 00:34]
[In reply to Jim Preissler]
To elaborate, virtually all client assets are kept in cold storage as well.
Jim Preissler, [14.07.18 00:34]
[In reply to Dustin McDaniel]
We are lookng for ans on that, so I like the suggestion. Nothing definative yet
Dustin McDaniel, [14.07.18 00:35]
[In reply to S Aggarwal]
I believe any undistributed for the day would be retained daily
Ro$€, [14.07.18 00:35]
[In reply to Grimlock]
Agree, noone can say i am unhackable
Dustin McDaniel, [14.07.18 00:36]
[In reply to Jim Preissler]
Thank you
Paul Johnson -trade.io, [14.07.18 00:36]
[In reply to Ro$€]
There is no company in the universe that is "unhackable"
DeviLpaL ~ trade.io Moderator, [14.07.18 00:36]
Ro$€:
Which users will have profit from LP in the first 2 months? Only the first 1000? Any new formula to calculate
Jim Preissler, [14.07.18 00:36]
[In reply to Johnson]
if you look at the token economics of TIO, it is deisgned to be more like a berkshire hathaway than a high volume penny stock. The goal is to drive value, not volume. The more value we create, and with low float, this will be good for price
S Aggarwal, [14.07.18 00:37]
[In reply to Dustin McDaniel]
At the end what to do with it ...it will keep on accumulating .... Better to distribute
Jim Preissler, [14.07.18 00:37]
[In reply to Paul Johnson -trade.io]
We are not skimping in any areas or security, it is a high priority
S Aggarwal, [14.07.18 00:38]
[In reply to S Aggarwal]
I think jim should clarify on this
Ray Zhang, [14.07.18 00:38]
Any news about the license?
Ro$€, [14.07.18 00:38]
[In reply to Grimlock]
I would like to ask what the solution if that ever happens. For sure, i dont want it :) but i want to know
S Aggarwal, [14.07.18 00:38]
Do we have any security feature like bnt had to freeze [email protected]
Jim Preissler, [14.07.18 00:39]
[In reply to S Aggarwal]
what was the orig Q again :)
Hiro S, [14.07.18 00:39]
[In reply to Jim Preissler]
I definitely like that. ;)
S Aggarwal, [14.07.18 00:40]
[In reply to Jim Preissler]
The question is that... What will happen to the undistributed profit due to people having less than 100% profit share in lp??
S Aggarwal, [14.07.18 00:40]
[In reply to S Aggarwal]
@Guitarplyr
Dustin McDaniel, [14.07.18 00:40]
[In reply to Jim Preissler]
concerning undistributed LP profits, they do not roll over, correct? Retained daily by the company?
Soroush, [14.07.18 00:41]
Talking about licenses, Jim, can you tell us which one is your top priority? US, Swiss, FX?
Hiro S, [14.07.18 00:41]
[In reply to Jim Preissler]
I simpatize with this “insurance” would be also a nice promo tool on top of all top security measures and if security play its roles it will be an asset that company will have anyway.
Jim Preissler, [14.07.18 00:41]
[In reply to Ro$€]
We will xplore insurance and other things, but same ans for all of crypto, there is nothing like FDIC yet
Dustin McDaniel, [14.07.18 00:41]
[In reply to Dustin McDaniel]
Or put into seperate fund, to provide insurance, buy back and burn programs, etc... :)
Jim Preissler, [14.07.18 00:42]
[In reply to S Aggarwal]
cover down days is the main use
Jim Preissler, [14.07.18 00:42]
[In reply to Dustin McDaniel]
those can all be considered
Jim Preissler, [14.07.18 00:43]
[In reply to Soroush]
scroll up a bit
S Aggarwal, [14.07.18 00:43]
[In reply to Dustin McDaniel]
This will be nice i think first to set aside 10%profit for buy and burn Tio and to distribute 50-50 (i.e. 45% of total ) to mgt and lp
S Aggarwal, [14.07.18 00:43]
@JimPreissler
Dustin McDaniel, [14.07.18 00:43]
[In reply to Jim Preissler]
Its why I love this company, project, and vision so much
Ro$€, [14.07.18 00:43]
[In reply to Soroush]
U r bit late buddy
Hiro S, [14.07.18 00:45]
[In reply to Hiro S]
@JimPreissler can u comment on this pls. I think if LP is able to share good profits on first days that would be good marketing and this may possible because of accumulated revenues.
samy101, [14.07.18 00:45]
This is promising and time to buy more Tio’s.
Jim Preissler, [14.07.18 00:45]
[In reply to S Aggarwal]
too early to be planning or discussing buybacks at this point, most don't fully understand the long term ramifications of this anyway. Most crypto doing this haven't thought it all the way through, but that is discussion for another day
Den, [14.07.18 00:46]
Hello guys, hi Jim! Got a question about negative days for LP. I don't really understand how it can be, exchange should stop trading and other revenue streams should be off for that day?
Oliver, [14.07.18 00:46]
Are you guys familiar with Ian Balina? He was hinting to an exchange partnership in his last video. The company will sponsor his world tour and meetup. It is not binance so I was hoping it could be TIO haha
Oliver, [14.07.18 00:46]
*that's for Jim or BD
Johnson, [14.07.18 00:46]
Jim, regarding trading TIO on competitors exchange. Are there plan to get TIO de-listed from other centralized exchange? This is necessary to avoid price manipulation. Also, is it possible that these exchange refuse to de-list TIO when you request?
Ro$€, [14.07.18 00:47]
[In reply to Johnson]
Thats answered, up buddy
Jim Preissler, [14.07.18 00:47]
[In reply to Den]
There is risk making markets and providing liquidity
Jim Preissler, [14.07.18 00:48]
[In reply to Johnson]
They could refuse
S Aggarwal, [14.07.18 00:48]
[In reply to Oliver]
+1
S Aggarwal, [14.07.18 00:49]
@JimPreissler is that exchange he is saying TIO
Hugo Cruz, [14.07.18 00:49]
What r the rewards for someone the buys TIO now before launch of exchange?
S Aggarwal, [14.07.18 00:49]
[In reply to Hugo Cruz]
Capital gains
Scarlet ~ trade.io Admin, [14.07.18 00:49]
[In reply to Hugo Cruz]
Capital appreciation.
S Aggarwal, [14.07.18 00:49]
[In reply to Scarlet ~ trade.io Admin]
U are late
S Aggarwal, [14.07.18 00:49]
Haha
Scarlet ~ trade.io Admin, [14.07.18 00:50]
I know..
Hugo Cruz, [14.07.18 00:50]
[In reply to S Aggarwal]
Thats wut they said when bitcoin was 20k.
Ro$€, [14.07.18 00:50]
[In reply to DeviLpaL ~ trade.io Moderator]
One more time Jim :) Q still
Scarlet ~ trade.io Admin, [14.07.18 00:51]
[In reply to Hugo Cruz]
30 cents vs 20k, c'mon man.
Jim Preissler, [14.07.18 00:51]
[In reply to Oliver]
I am going to find that Bitconnect guy! BITTTCOONNNEECTTT!
S Aggarwal, [14.07.18 00:51]
[In reply to Johnson]
@JimPreissler please answer this
Oliver, [14.07.18 00:51]
[In reply to Jim Preissler]
hahahaha
Jim Preissler, [14.07.18 00:51]
[In reply to Ro$€]
We are only limiting to 1000 until customer service, and any other issues are under control
Leo Elias, [14.07.18 00:52]
[In reply to Jim Preissler]
[ ?? Sticker ]
Dmitry K, [14.07.18 00:52]
[In reply to Jim Preissler]
[ GIF ]
Dustin McDaniel, [14.07.18 00:52]
Are MEW or other wallets going to be integrated in such a way as to make it possible to be able to participate in the LP without having them on the exchange? If this is actually possible that is. Will Private Keys be made available to the holders of the wallets in trade.io?
Dustin McDaniel, [14.07.18 00:52]
[In reply to Jim Preissler]
??????
Oliver, [14.07.18 00:52]
[ GIF ]
Jim Preissler, [14.07.18 00:53]
[In reply to Johnson]
yes, we will try to pull down elsewhere. no guarantees they will do it though
S Aggarwal, [14.07.18 00:53]
[In reply to Dustin McDaniel]
It will make no sense for company. To share profit withour using assets
Ro$€, [14.07.18 00:53]
[In reply to Jim Preissler]
That was cleared up, but how to distribute the LP profits from Ico, which custumers? Or we need the formular till LP launched?
Dustin McDaniel, [14.07.18 00:54]
[In reply to S Aggarwal]
Asking mainly for other community members who are looking for answers from managment
S Aggarwal, [14.07.18 00:54]
[In reply to Dustin McDaniel]
Np
Jim Preissler, [14.07.18 00:55]
[In reply to Dustin McDaniel]
yeah, also not sure on security on that as well. May be part of hybrid DEX solution
Jim Preissler, [14.07.18 00:56]
[In reply to S Aggarwal]
And transaction fees would be high, since every transaction would be recorded on BC, cant really use ledger. Not ideal overall
Dustin McDaniel, [14.07.18 00:56]
Couple more questions from community members...
Are there any updates on the Angel Investors Program?
What roles do Kosmos, Plutus VC and Blockway Capital play in the Angels Investors Program?
Dustin McDaniel, [14.07.18 00:56]
[In reply to Jim Preissler]
Thank you for those answers
Jim Preissler, [14.07.18 00:57]
[In reply to Dustin McDaniel]
We are sending them deals to look at where they know we already did KYC, took a first pass, etc. They are also bring us deals to look at as well
Jim Preissler, [14.07.18 00:58]
couple more minutes, then going to lunch!
S Aggarwal, [14.07.18 00:58]
Will Tio place there own buy and sell orders toaintain liquidity??
Grimlock, [14.07.18 00:58]
[In reply to Jim Preissler]
one last question from me,
Grimlock, [14.07.18 00:58]
are you confident that we are all going to the moon?
Grimlock, [14.07.18 00:59]
??
Dustin McDaniel, [14.07.18 00:59]
[In reply to Grimlock]
??????
Satish, [14.07.18 00:59]
????????
S Aggarwal, [14.07.18 00:59]
[In reply to S Aggarwal]
@JimPreissler
Jim Preissler, [14.07.18 00:59]
[In reply to Grimlock]
how much trading are you going to do :)
Hiro S, [14.07.18 01:00]
[In reply to Hiro S]
@JimPreissler can comment on that pls, thank you.
Soroush, [14.07.18 01:00]
Jim, will we have any kind of voting system for new coin listings?
Can you tell us anything about your plans on how new listings will be done? Would TIO owners have any privileges over others?
Jim Preissler, [14.07.18 01:00]
[In reply to S Aggarwal]
We will keep risk low initially, but over time us and outside (insitutional) providers will be doing this
Grimlock, [14.07.18 01:00]
[In reply to Jim Preissler]
am just going to hold. buckle up and sit tight. is that alright with you?
S Aggarwal, [14.07.18 01:00]
[In reply to Jim Preissler]
Very less ... As i am all in in TIO and now dont have any penny to trade
Jim Preissler, [14.07.18 01:01]
[In reply to Hiro S]
You mean operations??? No that is covered from our 50%
Dustin McDaniel, [14.07.18 01:01]
Any fear that the initial 1000 will be doing no trading since they are loyal TIO holders, and all-in already? ??????
S Aggarwal, [14.07.18 01:02]
[In reply to Dustin McDaniel]
Yes????
S Aggarwal, [14.07.18 01:02]
[In reply to S Aggarwal]
.
Hiro S, [14.07.18 01:02]
[In reply to Jim Preissler]
ok, it is clearer now. thank you.
Jim Preissler, [14.07.18 01:02]
[In reply to Dustin McDaniel]
then we add more
Leo Elias, [14.07.18 01:03]
Uscitizen when ?
Jim Preissler, [14.07.18 01:03]
[In reply to Hiro S]
An "expenese" would be an affiliate commission or something like that, not operations
Jim Preissler, [14.07.18 01:04]
[In reply to Soroush]
we are not looking to limit coins by any means, just need a controlled process to roll them out
Hiro S, [14.07.18 01:04]
[In reply to Jim Preissler]
understand even better now. :)
S Aggarwal, [14.07.18 01:04]
[In reply to Jim Preissler]
Good... So approx how many coins before lp launch??
Jim Preissler, [14.07.18 01:04]
[In reply to Leo Elias]
hopefully soon, been talking to FINRA and SEC
Jim Preissler, [14.07.18 01:05]
[In reply to S Aggarwal]
We will get to EOS and XRP pretty soon :)
S Aggarwal, [14.07.18 01:05]
Haha
S Aggarwal, [14.07.18 01:06]
[In reply to Jim Preissler]
I want others too as have economic interest via lp
Jali, [14.07.18 01:06]
[Forwarded from .]
Ok Tnx
Got it
Leo Elias, [14.07.18 01:06]
[In reply to Jim Preissler]
[ ?? Sticker ]
Dustin McDaniel, [14.07.18 01:06]
[In reply to Jim Preissler]
????
Johnson, [14.07.18 01:07]
I Missed response on licenses, can someone please repost?
S Aggarwal, [14.07.18 01:07]
[In reply to S Aggarwal]
@JimPreissler any estimate
Ro$€, [14.07.18 01:08]
Any plan that we can store Tio in hardware wallet like Ledge Nano?
Jim Preissler, [14.07.18 01:08]
[In reply to S Aggarwal]
ERC20 - we are looking at rolling out maybe 200 as soon as possible, but priority is on listing clients and ICO clients
Dustin McDaniel, [14.07.18 01:08]
[In reply to Johnson]
Working on HK, Singapore, Switzerland, Malta right now as the bigger ones. Smaller ones as well. We are meeting with regulators in the US as well
S Aggarwal, [14.07.18 01:08]
[In reply to Jim Preissler]
K
Jim Preissler, [14.07.18 01:08]
[In reply to S Aggarwal]
And for you, EOS and XRP
S Aggarwal, [14.07.18 01:09]
[In reply to Jim Preissler]
Thanks
trade.io, [14.07.18 01:09]
[In reply to Johnson]
I'll PM you
Soroush, [14.07.18 01:09]
[In reply to Jim Preissler]
Consider Tezos too plz, right now they only have two low-key exchanges available with high fees
Jim Preissler, [14.07.18 01:09]
[In reply to Soroush]
sure
Jim Preissler, [14.07.18 01:09]
Maybe they can pay us to list them :)
Jack, [14.07.18 01:10]
hi Jim, which kind of wallet we are using after exchange go live?
Jim Preissler, [14.07.18 01:10]
OK, I have a hot lunch date with my 5 year old. I will be back on here in a bit. Thanks everyone!!!
Jack, [14.07.18 01:10]
cos Blossom is under development
Hiro S, [14.07.18 01:11]
Thank you Jim, very quality AMA!
trade.io, [14.07.18 01:11]
Thanks Jim!
S Aggarwal, [14.07.18 01:11]
Thanks jim for ama @JimPreissler
Johnson, [14.07.18 01:11]
Thanks Jim! Enjoy your lunch
Ro$€, [14.07.18 01:12]
Thank you
Grimlock, [14.07.18 01:12]
ok guys, AMA is over. Time to load up your TIO bags and check in!
Jack, [14.07.18 01:12]
[In reply to Jack]
hi @Trade_IO, could you answer this?
trade.io, [14.07.18 01:13]
For your Q's please drop Admins a PM. We will collect your Q's and forward it to Jim. The AMA with Jim will also be uploaded on our Reddit page. Thank you!
???, [14.07.18 01:13]
Jim,I strongly recommend that you develop app!!
Paul Johnson -trade.io, [14.07.18 01:13]
Thanks Jim, Admin, and of course the TIOnauts...great dialogue as usual

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

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