PascalCoin.org HOME

P2P Bitcoin Derivative Trading Through the Blockchain: Equities, Bonds, Forex & Commodities

Research & ideas to use [Veritaseum's UltraCoin](http://ultra-coin.com/) **user programmable Bitcoin swaps** to trade exposures to cryptos, forex, equities, bonds & commodities through 45,000+ global tickers & up to 10,000x price leverage - peer-to-peer. Veritaseum's UltraCoin is a software concern that holds no client funds and is not a financial entity, hence presents you with no counterparty or default risk. [Download the client & tutorials](http://ultra-coin.com/index.php/download-beta)
[link]

[Tutorial] Creating a XMG specific, secure, air-gapped, Cold Storage Address/Wallet

Forward
This is a tutorial about securing an XMG wallet in an air-gapped, cold storage manner. Before you begin and, if you choose to proceed, while you are doing the steps, take a moment to be aware of what you are doing. This method is ultra secure and is based on a method that has been used to protect millions in BTC and other coins. But all that aside, part of this method is maintaining physical access to encrypted files, maybe for months or years ... keep this in mind and alter the method's storage options to suit your unique situation. In other words, try your best not to become this guy.
The Who, What, and Why?
​Protecting your cryptocurrency is a very important step when you enter the world of crypto. There are dozens of way to do this, with varying levels of security and varying levels of acceptance across the mainstream coins as well as the altcoins. Obviously, Bitcoin (BTC) is the primary coin upon which the value of all other altcoins are based, but it is also the main coin for which security protocols are developed. But just because you don't own 20BTC with a value of $200,000.00 doesn't mean you shouldn't get into the habit of securely handling your wallet contents and investments, which includes Magi Coin.
One of the better way of securing crypto is placing those coins into a cold storage that is "air-gapped" from the internet. Air-gapped systems are computer systems, or specially designed devices, that are completely disconnected from ​the internet. This protects against outside actors being able to access anything you store behind the air-gap. If nothing is ever detected, then no one would ever know it exists. There is a saying in the crypto community ... "if you don't have the key to your coins, then you don't own them according to the blockchain." This includes coins in Bittrex, Coinbase, GDAX, etc. If you can't send and receive the coin at will, or you don't own the key to where your coins are stored, then you don't own it ...period. As it is said, while inaccurate in real law, is totally applicable here, possession is 9/10ths of the law. These methods not only give you, and ONLY you, the keys to your coins but also protects them from company hacks, fraud, bad faith actions, and simple electronic glitches.
There are several pre-made products that allow storage of various coins, but your personal choice of altcoin might not have implemented support for these devices. As an example, a few of the more well known devices are the Ledger S Nano and the TREZOR. While dedicated devices are one solid way to secure your crypto, they can also be very expensive. I mean, $70.00-100.00 USD can buy a lot of XMG!
With these things in mind, this tutorial is one way to create a protected "cold storage," off-line*, m-wallet to help protect your investment. If followed, as is, when you finish this tutorial you should have a minimum of two local digital copies of a cold storage wallet for your XMG, as well as one (or more) copies stored in the cloud server of your choice.
  • Please note, coins stored in an offline wallet, while are exceedingly safe, will not stake. Take this into consideration when making decisions about this, or other, protected storage options.
Getting Started:
Cloud Storage Setup (Optional and can be completed after the main instructions)
If you decide to use a cloud storage like Google or Amazon, or even a local homebrew like Nextcloud, you need to make sure that access to said cloud drive is secure. You do this by signing up for a new account, using a username that you only use with that single service and a password that is a string of random words or a phrase. If two-factor authentication is available, use it.
If using random words for your "phrase", take a dictionary, and turn to random pages. While on these pages, close your eyes and put your finger on the page. The word your finger is closest too is the word you write down. Repeat this 10-12 times.
If using a phrase from a book, make sure it is something you will be able to remember, and it should be a minimum of 18 words long. Write it down and put it in a safe deposit box if you aren't sure you can remember it. Later, I'll discuss some other novel ways to secure a passphrase.
Once this is done, you will log out of the drive and proceed with the next step.
Note: This step isn't necessary, there are alternatives to using cloud services that are just as secure, but it is an acceptable option.
Creating the air-gapped Cold Storage Wallet (CSA)
First, download the m-wallet setup files from m-core.org and copy them to a flashdrive that has been freshly erased and formatted. If you are hyper-vigilant regarding security, secure erase the drive using your regular OS.
Then, choose one of the many "Live Operating System" choices out there. This is otherwise known as a "trial" use of the operating system that doesn't involve installing it on your hard drives/SSDs. These are typically images that are burned to a CD/DVD or written to a USB drive, then your computer is booted from this image. The OS creates a RAM-based virtual drive to run from and then uses the USB or CD like a storage device to hold files. When you turn off the computer, any in the RAM is lost, this is where the security comes into play. This allows you to load up an operating system without leaving physical data writes to any physical media.
Once you have your USB or CD Live OS, take a computer that is turned off and do the following steps to create the "air-gap" ...
  1. Remove any USB drives (flash, SSD, or HDD) from the computer.
  2. If you can physically remove the network card/dongle, do so.
  3. If you cannot physically remove the network/wifi device and you have a laptop that allows you to physically turn off the Wifi signal, so that instead.
  4. If connected with a network cable, disconnect this from the computer.
  5. Unplug the router that you typically connect to.
  6. Again, if you are hyper-vigilant, use a laptop and drive to some location where there is zero wifi signals and turn off your cell phone prior to going further.
These steps create the "air-gap" between you, the wallet data you will create, the computer, and anything that might identify that you are the owner of the address/wallet we are going to create.
Now, start up your live CD/USB, follow the directions and when it is loaded you want to put the flashdrive that is holding the wallet program into the computer. Expand it and install it. When it is installed, start it up and allow it to run. The wallet will not sync, clearly, but what it will do is create a new valid XMG address and the wallet.dat file. Cut and paste the new address into a text file and copy it your flash drive.
Now, go through the process of encrypting the wallet, which if done thought the wallet program. Pick a VERY strong phrase, that is completely random, for the encryption protocol. Make it 10-18 words long. DO NOT use the same phase that you used for the Cloud Services if you decided to go that route. Write this passphrase down and put it somewhere safe, without it everything you are doing is pointless, it will be the only way to access your XMG cold storage.
Navigate to the location where your OS stores the m-wallet's wallet.dat file and copy it to your flash drive. If you have access to some other device for storage, make a second copy at this time just to be safe. Remember, once we turn the computer off all of this data will disappear forever. You MUST make a copy of the wallet.dat to a secondary device to ensure you still have it when the computer is shut down. Verify twice so you don't cry once!
This encrypted wallet.dat and the address you pasted into the text file, is the basis for your cold storage. Sending XMG to the address places it into the blockchain and later, when you decide to access your cold storage, the wallet.dat will sync with the blockchain and show your stored balance.
Put a copy of the encrypted wallet.dat file on various drives, put it on the cloud services you signed up for, or burn a copy to a CD and hide it. Some people suggest sending a copy to friends or family, but I disagree. Looking at what bitcoin has done, plus the media it has garnered, asking friends and family to hold copies could alert them to your financial holdings. This could make you a target. If you want to make sure someone knows in the event of your untimely death, put it in a will or a "last wishes" document that explains what the data is and how to decrypt it.
One way to store your wallet.dat info, that takes it up a notch, is to buy a special USB drive that includes built in encryption ... that's right, you're encrypting your encrypted file. One of the better ones is the following.
​Apricorn Aegis Secure Key 3Z​​​​ $70-75.00 Con: As expensive as a hardware wallet. Pro: Can be used for other sensitive, non-crypto related, files​.
For myself, I just like to have a solid USB drive designed to withstand a nuclear blast. Well, not really, but it is pretty solid... I use this one.
​Corsair Flash Survivor Stealth ​32​GB​ $20-30.00 Con: Accessible by anyone who has the physical drive (but the wallet.dat file is encrypted, so that part is useless to the person without the passphrase). Pro: Will withstand far more than the average flash drive, you could bury it if you wanted.
Note: The links above go to Amazon, they do NOT contain any affiliate links and are merely shown as visual examples.
Using the Cold Storage Address (CSA)
Simply send coins to the address. As I stated, these coins will not stake, but they are secure from nearly anything when it comes to digital theft. The coins in your ​CSA will be on the blockchain, but no one can access them without your passphrase AND the wallet.dat file. As such, make sure you keep your passphrase secure as well, keep it in at least three spots that only you know about. These spots could be inside a book, a safe deposit box, or merely glued/written under your desk drawer. You could even take it one step further and encrypt the passphrase with an old school book cipher using a book at the library. This might be overkill, but in a rapidly expanding digital world, old school can often be a great way to keep secrets safe.
Thawing your Cold Storage Address (CSA)
The process to thaw your CSA is basically the reverse of how you created, however driving to the middle of nowhere isn't required. You can thaw your CSA on your regular computer, or any other computer. The steps are as follows...
Before you start, while isn't strictly needed, it is a good idea to disconnect your computer from the internet again and reboot your Live OS. This prevents any digital fingerprints on your regular computer, plus it won't interfere with the m-wallet already installed on your computer (if there is one).
  1. Grab the m-wallet software fresh from the m-core.org website​.
  2. Install it using the normal steps. (then disconnect from the internet if you are using a live CD) ​3. Run m-wallet until it starts syncing, then shut it down.​
  3. Navigate to the place where your OS stores the wallet.dat file and remove it. You can delete it, or you can save it, but it really isn't needed.
  4. Get your passphrase from your hidden place, as well as a copy of your encrypted wallet.dat file from your CSA.
  5. Copy the encrypted wallet.dat file into its proper location in your OS (where you deleted the other one) ((reconnect the internet at this point if using a live CD))
  6. Restart m-wallet, it will load the encrypted wallet.dat.
  7. Decrypt the wallet using your passphrase.
  8. Voila, you have now thawed your CSA and can use/spend/trade/stake the coins stored there like normal.
Extras:
List of good live operating systems ...
If anyone see any factual errors in this tutorial, please let me know, thanks!
If you use this and like it, think about sending a small thank you ... in XMG, of course, and, just FYI, it's going into a CSA.
9SPTXRDT1vWQubDBkFykrFRGoLekgfxADr
submitted by abraxsis to coinmagi [link] [comments]

The Strange Birth & History of Monero, Part I: WTF is Bytecoin?

If you are going to do large scale speculation on Monero as a major future currency you need to do a lot of reading and draw your own conclusions. You should never 'invest' in something you don't feel like you understand as thoroughly as you possibly can.
Fortunately, bitcointalk still has the creation of Monero nicely preserved for us to peruse at our leisure. I feel like anyone who is considering owning a significant amount needs to read every post from the initial announcement/discovery of Bytecoin, through the decision to fork and create BitMonero, to the eventual takeover by our current devs to "Monero". You will see a lot of oddities and scenic posts along the way.
Just be careful and don't stare too deeply into the canyon, even if we give you a glass walkway to observe it with: it's very deep.
I'll post a few shortcuts of interest to get you started, and I may update this list a few times so don't mind it if it gets larger. You are welcome to post your own scenic shortcuts in the comments. Today I want to focus on the Bytecoin announcement topic, and look at some of the notable posts there that led to the discovery of the massive premine and the decision to create a Bytecoin fork.
Welcome To Bytecoin, a revolution in digital currency https://bitcointalk.org/index.php?topic=512747.msg5661039#msg5661039
Notable comments in this thread: -2: "I have deja vu, like it was with bitcoin." (https://bitcointalk.org/index.php?topic=512747.msg5672781#msg5672781)
-25: "...according to the BCN website it was launched as Bytecoin about 1.5 years ago (Jul,2012)" (https://bitcointalk.org/index.php?topic=512747.msg5875713#msg5875713)
-90: "Very interesting coin. But two years without official exchange?" (https://bitcointalk.org/index.php?topic=512747.msg5981866#msg5981866)
-105: "can someone tell me how many coins are already in existence out of the 184billion?" (https://bitcointalk.org/index.php?topic=512747.msg6010395#msg6010395)
-106: "I don't really get it... So who mined it before? There are many references to "community" on bytecoin's page - where exactly is this community? On wiki there is reference to mailing list... But no link to it." (https://bitcointalk.org/index.php?topic=512747.msg6011193#msg6011193)
-115: "Does anybody know somebody who is in the BCN community from the very beginning? " (https://bitcointalk.org/index.php?topic=512747.msg6020221#msg6020221)
-116: "I don't. They are like a secret society." (https://bitcointalk.org/index.php?topic=512747.msg6020501#msg6020501)
-144: "So if there's 150 billion coins in circulation, then more than 80% of the total supply has been mined already. What happens when block reward drops to zero? Will there be a perpetual debasement to keep paying miners?" (https://bitcointalk.org/index.php?topic=512747.msg6043629#msg6043629)
-159: "are you involved in this project?" [to thankful_for_today] (https://bitcointalk.org/index.php?topic=512747.msg6050400#msg6050400)
-160: "I would like to. I've downloaded code from githab and it behaves bad" [thankful_for_today] (https://bitcointalk.org/index.php?topic=512747.msg6050664#msg6050664)
-167: "More and more i think this project was only done for research and was never mentioned to be used as a "real" crypto currency. I found some shady references by a group called bitcoin of things." [x0rcist, who continues to make some stunning insights for the rest of the thread] (https://bitcointalk.org/index.php?topic=512747.msg6053502#msg6053502)
-183: "Wow, this thread has bursted during last days. I feel the whole story is getting more weird with each day. Has anybody tried figuring out anything at Cryptonote forum? I'll be digging through it today." (https://bitcointalk.org/index.php?topic=512747.msg6066456#msg6066456)
-203: [x0rcist solves a pgp hidden message in an associated onion site] (https://bitcointalk.org/index.php?topic=512747.msg6089531#msg6089531)
-215: "I did some calculations about emission too. Here are details:
columns: - % emitted coins - block number - number of coins emmited
-> 2012, July 5.00029% 13446 9223904354 10.0005% 27620 18447646972 20.0007% 58497 36894821466 30.0011% 93503 55342193586 40.0015% 133915 73789671290 50.0017% 181712 92236877088 60.0019% 240211 110683937917 70.0021% 315631 129131083278 80.0022% 421932 147578077748 81.0023% 435380 149422786035 82.0023% 449556 151267574552 -> we are somewhere here 83.0023% 464542 153112285872 84.0024% 480437 154957005006 85.0024% 497358 156801686510" [thankful_for_today calculates exactly how many coins have been mined up until that point, April 8th, 2014] (https://bitcointalk.org/index.php?topic=512747.msg6123624#msg6123624)
-216: https://i.imgur.com/o7MQPHc.png [x0rcist shows a graph detailing that information] (https://bitcointalk.org/index.php?topic=512747.msg6124035#msg6124035)
-217: "I'm surprised someone hasn't started a clone for a fairer distribution and active development." [future Monero developer eizh finally drops the truth bomb] (https://bitcointalk.org/index.php?topic=512747.msg6126012#msg6126012)
-218: "If you read the last few comments you see that thankfull_for_today is busy with this. Also this coin was written from scratch so it needs time for developing a clone as its not based on bitcoin's codebase and there is not much documentation about it (yet)" (https://bitcointalk.org/index.php?topic=512747.msg6126244#msg6126244)
-219: "Yes, I confirm. I'll post parameters and other details soon." [thankful_for_today] (https://bitcointalk.org/index.php?topic=512747.msg6126287#msg6126287)
-221: "That's great. How well do we understand this protocol? Something being hidden for nearly 2 years despite having such a fundamental advantage seems unlikely. It almost seems like a hoax. I'm really hoping otherwise and look forward to your work." [eizh] (https://bitcointalk.org/index.php?topic=512747.msg6126562#msg6126562)
-222: "Who would develop a hoax like this from scratch and keep it under the radar for 2 years? To me its clear they first wanted to get the technology out of Beta before presenting it to the world. There are forces in the world that dont want things like this being developed in the first place and this pressure can be avoided by hidding it.
ps. take a look at the source code and be baffled about how clean this code is compared to bitcoin" [x0rcist] (https://bitcointalk.org/index.php?topic=512747.msg6126915#msg6126915)
-223: "i received the message from a man who wants to buy all my BCN he asked me to add a buy order for 100,000,000 BCN to spreadsheet. looks strange." [user abit2slo encounters someone trying to wrap up the Bytecoin launch and bury it, but that's my speculation] (https://bitcointalk.org/index.php?topic=512747.msg6127073#msg6127073)
-231: "Thats Pink Floyd - Another Brick in the Wall
Also in the source this was added <--! Part2 13:4 ,5 ,16:3 ,16 ,19:1 ,15 ,22:3 ,11 ,5:7, 14, 10:5 " [x0rcist comments on a puzzle posted on the Bytecoin website, one which he would later solve in a future comment] (https://bitcointalk.org/index.php?topic=512747.msg6128013#msg6128013)
-246: "are you a cryptographer?" [abit2slo impressed with x0rcist's solution to the encoded message, included for the lulz] (https://bitcointalk.org/index.php?topic=512747.msg6129764#msg6129764)
-263: "If it can deliver on its promises this is the most innovative development since bitcoin. Bitcoin has a four year reward halving schedule, and by the first halving, the bitcoin economy was at least somewhat fairly developed. This one seems to be more like one year for halving, and maybe there is development in the dark web somewhere, but unless we can see some evidence of it or people buying 100m coins to arbitrage between the dark web and the light web (which would be evidence of it) turns out to be real, then we have a situation that looks a lot like a premine (perhaps unintentional).
I can see an argument for shortening the schedule relative to bitcoin, but going to one year is probably taking it too far. BTW, it is simple to slow down the schedule, just increase the denominator in the reward formula. If you speed up the blocks to a minute, which I'm not sure is necessarily a good idea, then you need to double the denominator to keep the schedule the same.
I would contribute this effort if I'm impressed with the team and vision. PM me when you have more in place." [A new challenger, smooth, has entered the arena, especially considering what he finds at https://forum.cryptonote.org/viewtopic.php?f=6&t=6#p8] (https://bitcointalk.org/index.php?topic=512747.msg6135077#msg6135077)
-267: "If we're going to create a bcn derivative, I think we need to have a serious community discussion about possible changes and improvements in the next iteration. For example:
-275: "Adam Back is famous figure in cryptography and Bitcoin’s world and he began in 90s before Satoshi. And looks as he knows about Cryptonote a long-long time." (https://bitcointalk.org/index.php?topic=512747.msg6141617#msg6141617)
-285: "i don't support this idea with forking. we are free to do it, but should we? adam back said every cryptocoin "need a reason for existence; but to make you rich is not a reason" the fact that we are a little bit late to this train is not a reason at all too. cause there will always be somebody who is late." [abit2slo questions the wisdom of the impending fork] (https://bitcointalk.org/index.php?topic=512747.msg6146155#msg6146155)
-286: "The question is whether there actually is a train.
If it is just a few people holding the existing coins but no real development of a market, that is nothing but a preminel which is the worst case of 'to make you rich.' If the coin actually has significant adoption, value and usage (even if not apparent right now), then I agree with what you said." [smooth counters] (https://bitcointalk.org/index.php?topic=512747.msg6146256#msg6146256)
-288: "Showing up late is one thing -- most people on this forum were "late" to BTC relative to its 5-year history. But this wasn't even made available to the general public until 80% of the supply was mined. That's qualitatively different and delegitimizes it in my eyes. It's also just plain bad for market confidence because the history is unknown." [eizh chimes in as well] (https://bitcointalk.org/index.php?topic=512747.msg6146313#msg6146313)
-291: "Hi!
Here is an announcement of new currency based on CryptoNote with a list of things (still incomplete) I plan to change: https://bitcointalk.org/index.php?topic=563821.0
Welcome to discuss." [thankful_for_today makes plans to launch bitmonero, intended to be a fair fork of Bytecoin that restarts the mining rewards at the genesis block] (https://bitcointalk.org/index.php?topic=512747.msg6146717#msg6146717)
Whew!
That's not all that's worth seeing in that thread. I just highlighted some of the most important comments from the first 300, but I surely missed a few. Also, I know that important discussion continued to take place after that as well. Those excerpts only took us to page 15 in the topic and as of writing there are 234 (!!) pages of Bytecoin history to sift through.
The main takeaways should be this though:
  • Cryptonote came out of nowhere in the beginning of 2014, by way of an implementation known as Bytecoin.
  • No one had any idea who created this, and the code was incredibly sharp for a new project indicating that it had been refined for some time before that. (in stark contrast to the mess that was early bitcoin, as one poster put it)
  • The initial excitement over Bytecoin waned as people realized that it had been mined for years and they couldn't figure out anyone who had ever heard of it before then (early 2014). In fact approximately 80% had already been mined by the time the first altcoin enthusiasts heard of it.
  • Some users, including thankful_for_today, propose a fair fork of the technology but everyone was cautious because they don't want to take a piss all over the creators of cryptonote.
  • It is pointed out that the creators of cryptonote actually encourage others to create cryptocurrencies based off it, and do not claim it is a cryptocurrency in itself.
  • It is decided to create "bitmonero" and a new topic for discussion of that begins.
In future installments we will explore the initial days of BitMonero, the hasty launch that ignored the desires and concerns of the community, and the 'takeover' that brought us here to Monero today. Say what you will, but by virtue of having such a strange Chutes & Ladders type past, Monero allows us to focus on what's important: organic community growth and the technology itself. It helps avoid the nasty conspiracy theories and the "who is Satoshi" controversy that surrounds and plagues bitcoin. Some of us own a lot of Monero, but no one was shadow mining it for years before it became public knowledge.
In fact, Monero is so new that there is still time for anyone to be a Monero whale. Looking at the coin price since inception no one can rightly complain they were late to the party at this point. In fact, many of the early adopters paid a heavier price for their coins than we do today. Monero is down off its all time high of around $5.00 a coin during the initial ultra-speculation that surrounded it, and it is only now attaining the next tier of awareness.
The next generation of crypto-currency is here, and once you reduce and collapse all the variables you are looking at possibly the fairest launch in history of a cryptocurrency:
No one has gotten rich yet in the Monero speculation phase, and everyone is still invited to the party.
submitted by americanpegasus to Monero [link] [comments]

Qwertycoin for beginners – All you need to know about Qwertycoin!!!

Qwertycoin for beginners – All you need to know about Qwertycoin!!!
 
What is Qwertycoin?
 
Qwertycoin is a decentralized peer-to-peer protocol for safe payments worldwide Qwertycoin is a cryptocurrency designed for everyday use. It improves upon the original Bitcoin blockchain and aims to fulfill its initial purpose of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while maintaining personal privacy.
 
Qwertycoin provides instant worldwide privacy protected transactions and untraceable encrypted messaging transfers with almost zero processing fees in decentralized peer-to-peer users network. Mathematics secures the QWC network and empowers individuals to control their own finances and information. Your private key is your bank account, with no censorship and surveillance. Freedom exist. Start now!
 
QWC IS AN OPEN CRYPTOCURRENCY Meet decentralized privacy protected blockchain platform With instant untraceable encrypted transactions, Secure CPU efficient ASIC resistant mining, Open Source and anonymous.
 
Here are a few of the technical advantages that Qwertycoin boasts of!!!
 
ANONYMOUS AND PRIVACY-FOCUSED Instant private transactions are provided all around the world by the Qwertycoin Network, they are totally untraceable.
 
ULTRA-FAST TRANSACTIONS Transaction speeds are ultra-fast compared to other coins. Our technology allows average transaction confirmation times to drop to ~5 seconds.
 
DECENTRALIZED AND OPEN-SOURCE Qwertycoin is a decentralized currency based on an open-source Cryptonote platform. There is no central control over the coin.
 
REMOTE DAEMON FEATURE Remote Daemon feature, which allows individuals to run their own Nodes in network. By promoting decentralized nodes around the world enables fast, safe confirmations of transactions. Each node is compensated per transaction through the node. This promotes decentralization of nodes and node operators can also benefit as transaction increases.
 
SOLID & CONSISTENT PERFORMANCE Compared to forked coins, QWC's blockchain performance is solid and consistent, which gives confidence to the users and participating communities
 
READY FOR MASS ADOPTION Qwertycoin offers a wide array of secure wallets for multiple operating systems like Windows, Mac OS, Linux as also on Android and iOS.
 
ACTIVE DEVELOPMENT TEAM The development team is active and always in close contact with the community. On Github as on several Social Networks.
 
EXCELLENT SUPPORT FROM THE COMMUNITY Qwertycoin is not a private company funded by pre-mined coins or ICO’s.
 
Webpage: https://qwertycoin.org/
 
Github: https://github.com/qwertycoin-org/
 
Bitcointalk: https://bitcointalk.org/index.php?topic=2881418
 
Mining Pools & Block Explorer: http://xplorer.qwertycoin.org/
 
Social Network:
 
Twitter: https://twitter.com/Qwertycoin_QWC/
 
Telegram Channels:
 
Qwertycoin Community: https://t.me/qwertycoin
 
Qwertycoin Support: https://t.me/qwc_support
 
Where can I mine Qwertycoin[QWC]
 
Official Pool: https://qwertycoin.site/
 
Unofficial Pools:
 
CRYPTOKNIGHT: http://cryptoknight.cc/qwerty POOLMINER: http://qwerty.poolminer.work/ PARTYVIBE: http://qwcpool.partyvibe.com
 
How to start mining QWC?
 
Please join our awesome telegram support channel and we will be more than happy to help you https://t.me/qwc_support
 
How can I get news and updates about Qwertycoin?
 
News & Blog: https://qwertycoin.org/blog/category/news/ Subscribe to our newsletter
 
Look forward to having you part of the family and succeeding together. Good luck!!!
 
Best Regards
 
QWC Team
 
submitted by Qwertycoin_QWC to u/Qwertycoin_QWC [link] [comments]

~10 BTC lost from unencrypted Mycelium, and I don't know how (I have a theory thought)

I'm an idiot and had unencrypted mycelium wallet on my phone. Then my bitcoins disappeared to unknown address. I have no idea how I was compromised, but I have some theories.
The phone couldn't be fully compromised, because I also had other unencrypted bitcoin wallet (2x idiot), and the btc weren't stolen from there. I still have the other wallet there and the coins still haven't moved.
I stored the backup phrase on truecrypt partition on a linux server. In theory, the backup phrase could have been compromised, but I doubt it.
1st theory: sometime ago I installed popcorn time android app. I guess it is possible for other android apps to read the mycelium keys, if they aren't encrypted. Not sure though.
Other theory: targeted, physical attack. Someone technically could have snatched the phone while I left it at table at bar or something. However I usually take quite a good care of my phone.
Paranoidity level: high. Supidity level: ultra high. Any other theories?
submitted by throwaway-bitcoiner to Bitcoin [link] [comments]

Welcome & getting started guide!

Welcome to /FedoraTipsCoin!
What is Fedora Tips? Fedora Tips or simply Tips is a peer-to-peer cryptocurrency designed specifically for small value transactions and tipping. Fedora is descended from early Bitcoin releases, evolving through Dogecoin and Feathercoin. The Fedora project was dormant for a number of years before a new community project took root in mid-2017. The community has committed to the following goals:
Tips is fast Small value transactions should not be bottle-necked. Tips transactions resolve in minutes, with a current average time of 2 minutes.
Tips is secure Our dev community are committed engineers, with significant cryptography experience. The Fedora wallet has been stripped back to basics and re-engineeerd with the latest security libraries. The new code base has been extensively tested for usability, threats and risks. We use it, and we have been happy to share the refreshed wallet codebase so that all altcoins can benefit from our work. We welcome any news or issues that community finds to further improve the wallet.
Fedora is based on the proof-of-work algorithm, so whether you want to tip and transact or just hodl, your Tips wallet will be secure as a long term store of value.
Social Tipping Fedora Tips was traditionally used as a tipping currency across social media, prior to the project going dormant. One of the key early stage targets in our roadmap is re-integrating those tipping channels and building contemporary tipbots.
Transacting Now that we have a refreshed and secure wallet codebase, our next big challenge is a mobile wallet that allows you to tip and transact in face to face commerce. This includes tap and scan functions for fast tipping and purchases in your favorite bars, clubs and stores.
Where to buy Tips There are two main exchanges for buying Tips currently:
The best exchange rates are found in Tips/Doge and Tips/LTC pairs. We are actively engaging with traditional and decentralised exchanges to expand the reach of Tips.
Wallet We currently have stable wallet releases for Linux, Windows and Mac. The wallets have been solidly re-engineered for the last 6 months are in the final stages of testing.
You can download the wallet source from our repository, or get it compiled here:
Fedora Social Channels & Community There is a vigorous Fedora community blending the Tips faithful with a new surge of followers. You can find us here:
Please get involved! Our community is inclusive and friendly, and committed to the goals of peer to peer crypto currency and open source development.
submitted by robotsoutofcontrol to FedoraTipsCoin [link] [comments]

Looking for Beta Users for Groundbreaking P2P Swap Trading System, Maximum Leverage, Minimum Risk, All Markets

I'm looking for traders to take positions (either in agreement with, or contrary to) my research/opinion or using your own trade setups and fundamental/macro outlook - via our P2P swap platform. You can use actual capital or I can give you test capital, basically, play money, to trade with me and my team and all I ask for is feedback on the system and the ability to quote you (which is not mandatory, but it would be nice). You can trade stocks, bonds, commodities, forex and forex pairs long or short, or swap the exposures directly for another asset, ex. S&P 500 for the LSE 100, Apple for Google, etc. Fees start at 5 bp, the best available from anywhere. Digital leverage is available, up to 10,000x worth (double digit profits/losses can be had from 11 basis points in movement, or less - so be careful), with no possibility of a Margin Call since the trades are pre-funded. If you think the opportunity is worthwhile, feel free to contact us or see info sheet below for more...
Macro Trading Has a New Power Tool: Peer to Peer, Counterparty Risk-Free Swaps for Value Transfer & Trading
Trade the value of over 45,000 tickers of instruments in every asset class from every major geography and exchange with up to 10,000x pricing leverage without concerns of counterparty/credit/default risk or margin calls. Very big claims… substantiated by a very big discovery in value transfer and security.
Veritaseum is the worldwide leader in the financial implementation of “smart contracts” – unbreakable, self-executing bilateral agreements between two or more parties. We use these smart contracts to create peer to peer swaps for the transfer of value through the “blockchain,” a worldwide, open ledger of pseudonymous transactions that can be seen and audited by anyone, any time in the cloud. The blockchain is considered unhackable and one of the most secure implementations of cryptography to date.
With the use of financial “wallets”, client side applications that use a simple interface to guide users in the quick (as in minutes – enter ticker(s), amount to risk, collateral, expiry and leverage required) creation of a smart contract (in this case a P2P swap), users trade OTC directly with other parties – totally bypassing and intermediating exchanges, with even less risk. Monetary value is committed up front, a leverage factor is digitally dialed in (anywhere from 2x to 10,000x) and the smart contract is created and sent to the blockchain to await a match. Once matched, the funds are locked into the transaction until expiry, at which point profits and losses are distributed along with principal and unused collateral (the capital chosen to be put at risk). A novel, risk averse, extremely powerful, and quite frankly - ingenious way to trade macro strategies.
Not only can one go long or short any ticker in any asset class from any region for any currency, one can go long one ticker relative to another. For instance, those with a bearish outlook on the S&P 500 normally short it for USD. You can now short (pay) the S&P 500 index directly while going long (receiving) Eurozone equities (or 10 year treasury yields, or Swiss francs or the CNYJPY pair or bitocin), in a single transaction – with or out without leverage.
Since the exchange is peer to peer, we never hold or control any of your assets, hence you are not exposed to our balance sheet, credit, default or counterparty risks (the blockchain is your effective counterparty). Veritaseum is a software concern, not a financial concern or intermediary! You can always track your assets and trade through the blockchain at any time. The capital is loaded in the wallet in the form of bitcoin, and for those who choose to minimize exposure to bitcoin market price volatility, leverage can be used to nearly eliminate the noise. You can also conduct trades using a demo mode and test coins, so as to use the system without risking actual capital.

Smart Contracts as Transaction Vehicles: The Safest Possible Way To Exchange Value

Veritaseum's UltraCoin smart contracts are: 1. highly flexible - you design your own derivatives yourself using your own parameters via our simple graphical user interface 2. self-executing 3. autonomous 4. unbreachable: we call them, the unbreakable promise! They are backed, fortified and stored by/on the blockchain itself 5. uber-transparent: simple click the "trace transaction" button to find the location and historical travel path of your assets anytime, from anywhere you have an internet connection

Trading Through a Balance Sheet-Based Financial Institution vs. Distributed, Decentralized, P2P Software Concern

What I do want to accomplish is the education through the fact that the Bitcoin protocol has given rise to the genesis of a new type of company, with a new business model that can offer a totally new type of product. As you were able to see from above, Veritaseum's UltraCoin offers a very uniquer product with many if not all of the attributes that potential competitors offer, with a slew of attributes that others can't touch. This is done at 1/5th of the price and at much less risk! When dealing with Veritaseum's UltraCoin, you can never get Gox'd because we never have (nor do we want) possession of your coins or fiat - every, at any time. Because we don't user our balance sheet (we are a software company, not a centralized exchange or brokedealer) you:
This is just the beginning of what is capable with our Internet 2.0 business models.
I implore you to download our:
There's also a lot of BTC industry research available for download as well as our blog which has some of the best fundamental and macro research available on the web. Hardcore traders, investors and speculators should check out my latest piece: It's All Out War, Pt 3: Is the Danish Krone Peg to Euro More Fragile Than Glass Beads? The Danish National Bank Infers So!
Any individuals or entities looking to provide liquidity to the system, individuals/companies who wish to partner, accredited investors looking for a piece of the action (you have to be willing to sign and NDA, we are quite open to working with anybody), or those who simply want to shoot the breeze should feel free to contact us.
An example of an UltraCoin smart contract summary
Here's some info about me, my team and what we're doing at Veritaseum:
Cordially, Reggie Middleton CEO, VeritaseumTM Inc.
submitted by Reggie-Middleton to investing [link] [comments]

Bitcoin 1.0 vs 2.0 – or – A Comparison of the Largest USD/BTC Exchange & UltraCoin: Features & Costs

I was looking at the offerings of Bitfinex just now, after hearing that Coinbase had the highest volume of any US-based broker just weeks after opening an exchange (we’ll discuss that at a different time, since Coinbase is waiving fees meaning those users are hot money, but likely are part of the largest installed user base). What I found was illuminating, at least for me since I don’t follow the offerings of BTC brokers and exchanges that closely. Bitfinix offers leverage, plain vanilla swaps and TRS (total return swaps - basically fixed/variable rates in major fiat denominations for cryptocurrency (BTC. LTC, DRK) exposure). I said to myself, “Wow, that’s pretty advanced.” Then I looked at the fees page, and saw the swaps were priced at 15%. The first thing that came to mind was the difference, and limitations that come with the business models of first generation bitcoin companies and second generation bitcoin companies.
To put this into perspective, Veritaseum's UltraCoin offers user programmable swaps (ie. you can make your own CDS, TRS or plain vanilla, or even a custom swap) with exposures to not just 3 cryptos and 3 or 4 fiat currencies, but all major and most exotic currency pairs (dozens) as well as over 45,000 tickers covering EVERY major asset class (stocks, bonds, forex & commodities as well as cryptos) from exchanges throughout the world****. This is all capable at a sliding scale of 10 to 25 basis points, round trip. That's the equivalent of 5 bp to 12.5 bp per trade - or 1/150th of what Bitfinex charges for a much simpler and more constrained product. In addition, all of this is done without UltraCoin havin any possession of your funds, whatsoever. Veritaseum (the company behind UltraCoin) is a software concern, not a financial entiity, thus you have no exposure to our balance sheet. We cannot MT. Gox you and you essentially have no counterparty, default or credit risk because your counterparty is the blockchain, and you trade peer to peer vs. through a centralized exchange. Pretty big difference, no?
I will continue my discussion on pricing and features right after I delineate the distinction between the two.

The Difference between Bitcoin 1.0 and Bitcoin 2.0 Companies

To begin with, I'd like to make clear that not only is the title misleading, but all references to the same are essentially inaccurate. Bitcoin itself is still in beta stage (0.9x) thus its not accurate to refer to 1st and 2nd generations of bitcoin businesses. If anything, we're all in beta. Now that I've gotten that off of my chest... The first bold generation of bitcoin entrepreneurs (it's amazing that you can refer to companies born 2 and 3 years ago as a previous generation, it just goes to show you how fast this space is moving!) built businesses based upon bitcoin as a legacy commodity. Basically, they bought, sold, transmitted or transferred it as a unit of value. They did this because that's how everything was done for the last several thousand years in the financial services industry. Basically, they had no choice - or so they thought. Then came those who read the Satoshi whitepaper and the bitcoin wiki and saw a very different meaning. My team and I are among those entrepreneurs. We saw that bitcoins were malleable, programmable, tools with which one can use to paint upon the canvas of value. A far cry from the moving of static financial widgets from place to place. Think of moving bitcoins around (bitcoin 1.0 companies) vs programming bitcoins to act on their own according to their contractual owner's wishes (bitcoin 2.0 companies) akin to pushing a model T Ford around town vs. programming your driverless electric Tesla to go by the grocery store to pick up some fresh produce before swinging by the school to pick up your kids on the way home to meet you to take your wife (girlfriend?) out to dinner.

A Real World Comparison of Bitcoin Companies: Bitfinex (v1.0) vs Veritaseum (v2.0)

Tickers Available

Bitfinex: ~6 or 7 (this is an approximation) - BTC, LTC, DRK, USD & (I'm assuming EUR, CNY and maybe GBP). It is quite possible that I'm underestimating their portfolio here.
Veritaseum's UltraCoin: ~45,000+
Asset Classes Available
Bitfinex: Crypto and forex
Veritaseum's UltraCoin: Stocks, Bonds, Commodities, Forex, Cryptos and many indices
Costs Bitfinex: up to 40bp round trip, 1,500bp for swaps
Veritaseum's UltraCoin: up to 25 bp round trip for all products (primarily smart contract swap driven)
Leverage available: Bitfinex: Assumed to be up to 50x, traditional margin lending
Veritaseum's UltraCoin: up to 10,000x, with finite digital P/L parameters (no margin calls, no negative account drawdowns)
How does Veritaseum do it? We program the bitcoin to act according to a mutual agreement between two or more parties, then send it to the blockchain to act accordingly. These agreements are self executing, unbreakable promises known as "Smart Contracts". In this case, they are highly customizable, P2P OTC swaps, but we are working on a multitude of other products, services and solutions as well. We also supply very high level, unconflicted, independent and impartial strategy and research for our customers. Since we don't use our balance sheet and we don't act as a principal, we have no incentive to skewer the research in any particular direction.

Smart Contracts as Transaction Vehicles: The Safest Possible Way To Exchange Value

Veritaseum's UltraCoin BTC-based smart contracts are: 1. highly flexible - you design your own derivatives yourself using your own parameters via our simple graphical user interface 2. self-executing 3. autonomous 4. unbreachable: we call them, the unbreakable promise! They are backed, fortified and stored by/on the Bitcoin blockchain itself 5. uber-transparent: simple click the "trace transaction" button to find the location and historical travel path of your assets anytime, from anywhere you have an internet connection

Trading Through a Balance Sheet-Based Financial Institution vs. Distributed, Decentralized, P2P Software Concern

It's a matter of risk. This is not a dig at Bitfinex. After looking at their volume (significant) and their offerings (quite impressive given the newness of this industry) the last thing I would ever want to do is to disparage them. As a matter of fact, I give them kudos! Good job, fellas! What I do want to accomplish is the education through the fact that the Bitcoin protocol has given rise to the genesis of a new type of company, with a new business model that can offer a totally new type of product. As you were able to see from above, Veritaseum's UltraCoin offers a very uniquer product with many if not all of the attributes that potential competitors offer, with a slew of attributes that others can't touch. This is done at 1/150th of the price and at much less risk! When dealing with Veritaseum's UltraCoin, you can never get Gox'd because we never have (nor do we want) possession of your coins or fiat - every, at any time. Because we don't user our balance sheet (we are a software company, not a centralized exchange or brokedealer) you:
This is just the beginning of what is capable with bitcoin (and this is pure bitcoin, not altcoins, no tokens, no sidechains, just pure, old fashioned [at least as old as it can be considered] bitcoin) and 2.0 business models. Wait until you see the new stuff we'll be rolling out.
We are in beta, so please be aware of that and the shortcomings that it entails (although it is also my opinion that most bitcoin companies are in beta because bitcoin itself is in beta, as implied above). I implore you to download, and trade with, our:
There's also a lot of BTC industry research available for download as well as our blog which has some of the best fundamental and macro research available on the web. Hardcore traders, investors and speculators should check out my latest piece: It's All Out War, Pt 3: Is the Danish Krone Peg to Euro More Fragile Than Glass Beads? The Danish National Bank Infers So!
Any bitcoin-rich individuals or entities looking to provide liquidity to the system, individuals/compamies who wish to partner, accredited investors looking for a piece of the action (you have to be willing to sign and NDA, we are quite open to working with anybody), or those who simply want to shoot the breeze should feel free to contact us.
Bitcoin 2.0 An example of an UltraCoin smart contract summary
Here's some info about me, my team and what we're doing at Veritaseum:
submitted by Reggie-Middleton to BitcoinMarkets [link] [comments]

Bitcoin 1.0 vs 2.0 – or – A Comparison of Legacy Exchanges & Veritaseum's UltraCoin

Veritaseum is looking for liquidity providers to assist in kickstarting the world's first global P2P exchange. If you have a healthy stash of BTC, please contact us to discuss.
I was looking at the offerings of a large US bitcoin exchange just now, after hearing that Coinbase had the highest volume of any US-based broker just weeks after opening an exchange (we’ll discuss that at a different time, since Coinbase is waiving fees meaning those users are hot money, but likely are part of the largest installed bitcoin user base in the world and growing rapidly). What I found was illuminating, at least for me since I don’t follow the offerings of BTC brokers and exchanges that closely. I noticed several of the industry (BTC exchange) leaders offer leverage, plain vanilla swaps and TRS (total return swaps - basically fixed/variable rates in major fiat denominations for cryptocurrency (BTC. LTC, DRK) exposure). I said to myself, “Wow, that’s pretty advanced.” Then I looked at the fees, and saw the swaps were priced up to and past 15%. Then, upon further research, I realized that these swaps were financing mechanisms for margin lending. The first thing that came to mind was the difference, and limitations that come with the business models of first generation bitcoin companies and second generation Bitcoin companies. Take notice in the difference of the capitalization. Lower case "b" denotes the accounts of value that the mainstream media calls digital currency. Upper case "B" denotes the blockchain-based, protocol driven services and capabilities behind the lower case "b". Generation 1.0 v. generation 2.0!
To put this into perspective, Veritaseum's UltraCoin offers user programmable swaps (ie. you can make your own CDS, TRS or plain vanilla, or even a custom swap) with exposures to not just 3 cryptos and 3 or 4 fiat currencies, but all major and most exotic currency pairs (dozens) as well as over 45,000 tickers covering EVERY major asset class (stocks, bonds, forex & commodities as well as cryptos) from exchanges throughout the world. This is all capable at a sliding scale of 10 to 25 basis points, round trip. That's the equivalent of 5 bp to 12.5 bp per trade. In addition, all of this is done without UltraCoin having any possession of your funds, whatsoever. Veritaseum (the company behind UltraCoin) is a software concern, not a financial entity, thus you have no exposure to our balance sheet. We cannot MT. Gox you and you essentially have no counterparty, default or credit risk because your counterparty is the blockchain, and you trade peer to peer vs. through a centralized exchange. Pretty big difference from the legacy systems that we're all used to, no?

The Difference between Bitcoin 1.0 and Bitcoin 2.0 Companies

To begin with, I'd like to make clear that not only is the title misleading, but all references to the same are essentially inaccurate. Bitcoin itself is still in beta stage (0.9x) thus its not accurate to refer to 1st and 2nd generations of bitcoin businesses. If anything, we're all in beta. Now that I've gotten that off of my chest... The first bold generation of bitcoin entrepreneurs (it's amazing that you can refer to companies born 2 and 3 years ago as a previous generation, it just goes to show you how fast this space is moving!) built businesses based upon bitcoin as a legacy commodity. Basically, they bought, sold, transmitted or transferred it as a unit of value. They did this because that's how everything was done for the last several thousand years in the financial services industry. Basically, they had no choice - or so they thought. Then came those who read the Satoshi whitepaper and the bitcoin wiki and saw a very different meaning. My team and I are among those entrepreneurs. We saw that bitcoins were malleable, programmable, tools with which one can use to paint upon the canvas of value. A far cry from the moving of static financial widgets from place to place. Think of moving bitcoins around (bitcoin 1.0 companies) vs programming bitcoins to act on their own according to their contractual owner's wishes (bitcoin 2.0 companies) akin to pushing a model T Ford around town vs. programming your driverless electric Tesla to go by the grocery store to pick up some fresh produce before swinging by the school to pick up your kids on the way home to meet you to take your wife (girlfriend?) out to dinner.

A Real World Comparison of Bitcoin Companies

Tickers Available

Veritaseum's UltraCoin: ~45,000+
Asset Classes Available
Veritaseum's UltraCoin: Stocks, Bonds, Commodities, Forex, Cryptos and many indices
Costs Veritaseum's UltraCoin: up to 25 bp round trip for all products (primarily smart contract swap driven)
Leverage available: Veritaseum's UltraCoin: up to 10,000x, with finite digital P/L parameters (no margin calls, no negative account drawdowns)
How does Veritaseum do it? We program the bitcoin to act according to a mutual agreement between two or more parties, then send it to the blockchain to act accordingly. These agreements are self executing, unbreakable promises known as "Smart Contracts". In this case, they are highly customizable, P2P OTC swaps, but we are working on a multitude of other products, services and solutions as well. We also supply very high level, unconflicted, independent and impartial strategy and research for our customers. Since we don't use our balance sheet and we don't act as a principal, we have no incentive to skewer the research in any particular direction.

Smart Contracts as Transaction Vehicles: The Safest Possible Way To Exchange Value

Veritaseum's UltraCoin BTC-based smart contracts are: 1. highly flexible - you design your own derivatives yourself using your own parameters via our simple graphical user interface 2. self-executing 3. autonomous 4. unbreachable: we call them, the unbreakable promise! They are backed, fortified and stored by/on the Bitcoin blockchain itself 5. uber-transparent: simple click the "trace transaction" button to find the location and historical travel path of your assets anytime, from anywhere you have an internet connection

Trading Through a Balance Sheet-Based Financial Institution vs. Distributed, Decentralized, P2P Software Concern

What I do want to accomplish is the education through the fact that the Bitcoin protocol has given rise to the genesis of a new type of company, with a new business model that can offer a totally new type of product. As you were able to see from above, Veritaseum's UltraCoin offers a very uniquer product with many if not all of the attributes that potential competitors offer, with a slew of attributes that others can't touch. This is done at 1/150th of the price and at much less risk! When dealing with Veritaseum's UltraCoin, you can never get Gox'd because we never have (nor do we want) possession of your coins or fiat - every, at any time. Because we don't user our balance sheet (we are a software company, not a centralized exchange or brokedealer) you:
This is just the beginning of what is capable with bitcoin (and this is pure bitcoin, not altcoins, no tokens, no sidechains, just pure, old fashioned [at least as old as it can be considered] bitcoin) and 2.0 business models. Wait until you see the new stuff we'll be rolling out.
I implore you to download our:
There's also a lot of BTC industry research available for download as well as our blog which has some of the best fundamental and macro research available on the web. Hardcore traders, investors and speculators should check out my latest piece: It's All Out War, Pt 3: Is the Danish Krone Peg to Euro More Fragile Than Glass Beads? The Danish National Bank Infers So!
Any bitcoin-rich individuals or entities looking to provide liquidity to the system, individuals/compamies who wish to partner, accredited investors looking for a piece of the action (you have to be willing to sign and NDA, we are quite open to working with anybody), or those who simply want to shoot the breeze should feel free to contact us.
Bitcoin 2.0 An example of an UltraCoin smart contract summary
Here's some info about me, my team and what we're doing at Veritaseum:
submitted by Reggie-Middleton to BitcoinDerivatives [link] [comments]

Bitcoin: A BIT of a problem

My name is Joe Average. I am the 80% of people who found out about bitcoin. I found out last week that an ATM for a new type of special currency is being released in my hometown, Vancouver BC Canada. Like many others, I'm still clueless about bitcoin, despite spending my halloween weekend researching it, trying to find out whether it's a trick or a treat (sorry I had to).
In this post, I'll list what I know about it, then list the thoughts, problems, and barriers that I, and probably 80% of the population, feel about bitcoin. These things are probably most relevant to those of you bitcoin enthusiast that have a vested interest in the success of the currency/commodity, because the general public represents a population that will influence the capacity that bitcoin can have in society.
Bitcoin has many advantages. Here are the advantages that I came across in forums and news articles: -free from government influence -zero bank fees -limited resource, naturally appreciating value -relatively anonymous -intangible, convenient to carry -irreversible transactions
And here are some problems, starting from the most relevant one which probably everyone thinks of right off the bat:
1-Bitcoin or cash? Why should I bother using bitcoin? Dozens of local merchants in my area are accepting bitcoin. Wow that's great! Now I can spend 2 hours acquiring bitcoin from a private, ungoverned, unregulated exchange (more on that later) and buy a medium belgium hot chocolate from waves (great drink by the way). Paying with card or cash? No ma'am, I'm paying with BITCOIN big teethy smile, eyebrows up and down several times Ok, bust out the ipad or whatever, spend 15 minutes waiting for the cashier to grab her ipad, unlock the screen, get a network connection at coffee shop network speeds, tap the bitpay app or w/e, load the app, scan my qr code, wait for the transaction to verify, blah blah blah, meanwhile, big ass line up forms behind me and I'm the big asshole who decided to pay with bitcoin instead of cash.
Okay, in all fairness, I'm probably being ignorant to some bitcoin app out there that cuts this whole process down from 15 minutes to just 5 minutes, the time it takes to verify transactions. But if I have to use an app, that probably costs money. So now my $4.50 dark belgium hot chocolate now costs $4.65 + 5 minutes of my life.
Hmm maybe I'll just 1) whip out some cash 2) whip out my visa card and pay it off right away so I don't incur interest fees 3) pay for it with debit, my bank doesn't charge me debit fees for using my card
2-Sending bitcoin So let's say what appeals to me is that bitcoin replaces Western Union, bank transfers, etcetc. I want to send $4,000 to Alice and Bob of ABC Co., payment for their work as hypothetical people in every accounting example I've ever read. For that amount, I'd have to pay >$100 in service fees from a money company. Or I could save myself >$100 by using bitcoin instead.
Okay great! Where do I start? Download a wallet. Done, nice. Next step, synchonize 208 weeks of ledger. Great.. oh, hang on. It's been 4 hours and I've downloaded 3 weeks. What the fuck?! How long does this take.. it doesn't even tell me how long it will take or how big the file is! computer left running overnight Awesome, just 2 more nights to go then I'll be fully syncrhonized. 2 days later hard-drive is maxed out? I needed a new one anyways. 4 days and a 500GB SSD later Now I have my wallet ready to use. Time to purchase some bitcoin!
So I purchase bitcoin, send it to Bob and Alice, and since they own ABC Co., a massive enterprise, they employ an IT guy, and he is the only guy in the company who will ever understand how to securely use bitcoin. He's behind 2 juniper firewalls (for redundancy), we VPN tunnel'd the payment code over with the pass, that way I know it went to him and nothing's been compromised. Because once the funds are sent out, it's gone, there is no insurance. Which brings me to my next point:
Bottom line: requires a lot of time to SAFELY and SECURELY send bitcoin, FEE-FREE. But that's okay because I have nothing better to do. If I had kids, errands, work, non-IT hobbies to do, $40-$100 might be worth the time it takes me to research the process of sending bitcoin out properly.
3-Bitcoin wallet services There's a whole list of companies emerging to take podium position in the race of the bitcoin wallet services world. Besides setting up a bitcoin exchange (which anyone can do in their basement), bitcoin wallets are the next biggest thing in bitcoin.
In the digital world, about 3 companies take podium position in a certain thing. Like Android/Apple/Blackberry for cell phones, Windows/Apple/Linux, Chrome/Firefox/IE, etc etc. Right now, for digital bitcoin wallets, everyone's competing to be one of those 3 major companies that everyone will use. Companies like coinbase.
These companies cost money. Coinbase has a pretty impressive talent pool. Let me introduce them to you:
Barry Kwok- Holy shit, this guy has a Masters in Engineering?! No seriously, this guy is a master of engineering. He built teams of 5 to 50 people at Google (fucking google man!). This guy is the first guy on the list, how much does he make? I'd have to guess $120k
Craig Hammell- This guy built OK Cupid. I know a guy who uses that shit to get laid, it really works, so OK cupid is probably a well-established company. Because of Craig's success with OK cupid, and the fact he looks that young, I'd say he probably doesn't make that much, just a modest $90k
Olaf Carlson-Wee- Olaf does rock-climbing, enough said. $95k
Fred Erhsam- Traded at Goldman Sachs. $150k
Charlie Lee- Invented Litecoin, worked on google chrome, google play, and youtube. $120k
Brian Armstrong- This guy has experience with Fraud Prevention. Don't know why they hired him, because as everyone's been saying, you can't fraud bitcoin. Since they don't need him, he's probably an intern.
Let's run some quick numbers: Total cost of salaries: $575,000/year Other expenses including dividends to investors: $3m/year
So this company has $3.6m a year to allocate to their consumer base of 329k of wallets, and 12k merchants. That is roughly $10.56/year per wallet or merchant. (realistically, the portion of cost between wallets and merchants would be not be split equally, and of course all these figures are pulled straight from thin air, however, this is reddit, not forbes).
That is a very low amount compared to using VISA which costs merchants $0.25/transaction+monthly service fee. As we can see, bitcoin is a great! Save some money.
But here's the problem: people fraud banks all the time. That costs money. Somebody puts $10k in their digital wallet, loses it, they're going to be pissed off. They'll start demanding it back from coinbase. The day coinbase pays 1 guy $10k compensation, the day they'll have to pay everyone that loses money like that, and that $3-mil figure I gave above will be much higher, and the fees everyone has to pay will go up. If coinbase doesn't compensate, then people will be reluctant to use bitcoin for anything other than small transactions.
This means bitcoin will not have the capacity to be adopted by regular people, like me. Either I lose big chunks of money at a time, when my digital wallet gets hacked, goes missing, frauded, etc, or I lose it in smaller chunks and frequency which is similar to a bank.
So digital wallet services are just like banks. Wait, I thought the bitcoin guys were saying banks were a bad thing?
4-Inflation vs Deflation I see a lot of bitcoin enthusiasts talking economics, which really angers me. You should read some of the things they say "inflation is bad, bitcoin actually deflates, so its good" "the government can't fuck with bitcoin, so its good" "bitcoin good, so it's good". If you're a bitcoin enthusiast and discussed bitcoin economics, you probably need to trade your internet credit for some college credits. Because seriously, that is some retarded shit. For example:
Inflation is bad, bitcoin deflates = good / The gov't can't fuck with bitcoin so it's good No. Inflation is good, yes I said it and you can quote me on that. Inflation allows job creation through lowering interest rates which encourages people and businesses to buy things. When stuff is bought, things happen. And jobs are required to make things happen. So when the government sees that "hey, our economy ain't doin too well, how bout we print some of ye ol' fashioned paper dolla bills" that's a strategic move to lower the unemployment rate and increase GDP.
The US is in shambles right now for reasons beyond inflation. The #1 reason why is labour costs too much in the US. Shaquila and Billy Bob don't want to work in a factory for $12/hr, they're too in love with hollywood and liberty, thinking they're entitled to a high paying comfortable job. Half of America thinks like that. But guess what, the Chinese don't, they're happy to pick up where Shaquila and Billy Bob left off. And because of the economies of scale thanks to their large population, that ignited over night, and now the US is left with a population that doesn't want to work. There's also a bunch of other reasons like going to war, etc, but that's debatable because there's a cost/benefit of going to war (own all the oil rigs out east to pay for things because you lazy fucks can't be bothered to make money with elbow grease).
The point is, mind fuck #1, inflation is a solution to a problem that's not related to money.
On the other side of the coin, deflation IS a bad thing.
Deflation, which bitcoin is designed to do, means that there will be fewer amounts of money to spend over time. That increases the price of things. That's good for people who are holding on to bitcoin. This encourages people to spend with bitcoin less, and save more. Mind fuck #2, saving money is bad, because it reduces GDP. It reduces the need for companies like coinbase to develop and create a product for spending bitcoin in the first place. So the more bitcoin deflates, the more its value goes up, the less people spend bitcoin on shit, the less merchants see a point in accepting bitcoin, the less merchants use bitcoin, the less people buy bitcoin, then bitcoins value goes down.
5-Limited supply of bitcoins This title should read Diminishing supply of bitcoins, but it would then be misinterpreted without an explanation. Bitcoins don't diminish, they are simply unaccounted for. Meaning, if you have bitcoins, and forget the password, it is gone forever. And in case you didn't know, people are human, making them prone to mistakes. Forgetting, etc. So, over time, enough people will lose bits and pieces of bitcoin here and there. That's going to add up over the long run. Units of measure will start going to miliBits, Microbits, ultra micro bits, ultra ultra micro bits. etc. Kind of like fiat currency, it can inflate to be infinitely large, and with bitcoin, infinitely smaller.
6-Exchanges and trading When Silk Road went down, bitcoin went up. First, naturally and by way of economics, fewer bitcoin = increased value. The Silk Road guy had $26-million USD worth of bitcoin, more than enough bitcoin to raise the market price. Followed by that, we have news, and hype, which drove higher. Then the fact prices are going up, makes a nice news article, which drives it up even more. When prices went up because of the news, incentive went up. Now the prices are so high, some people have made fortunes off of it. And that makes the news too, which drives it up again even higher.
That's a great incentive if you're a bitcoin investor. Hey, the winklevoss twins have 1% of bitcoin, all you miners go use your mining pools to break into the winklevoss account and delete the fuck out of their bitcoin wallets and backup, so you can raise the market value.
Just kidding. That's a lot of work. You know what's easier? This:
1) Start your own bitcoin exchange, no fees 100% free. 2) People will start trading on it. 3) ???? 4) Profit!
Actually step 3 isn't a mystery, you set the fucking price level to whatever you want it to be. And because it's 100% unregulated, unsanctioned, not tied to any commodities, no authority, no referee, no consortium, you can do whatever the fuck you want on it.
Without authority, believing that the prices on the bitcoin exchange is set naturally by way of price and demand is like believing in religion. You just have to believe.
Of course with public exchanges, there is some level of corruption involved, but that's why people get arrested and shit. Using bitcoin exchanges doesn't have that level of protection, and it never will. You think the governments own law enforcement is going to go after guys corrupting a private stock exchange, which trades a currency that negatively impacts their own fiat currency? Unless the government is somehow benefiting from bitcoin, which it won't by design, the police will simply have a good laugh at that.
In conclusion, there's so many flaws that I can see with bitcoin. But bitcoin enthusiasts will say otherwise. If I jumped on the bitcoin train 3 years ago, I'd probably do the same thing as you: make up some backwards economic reasoning it'll succeed, some backward political reason, etc.
So Dear Bitcoin, you just don't make enough sense to us, the general population, for us to adopt you. A great substitute for currency in the underground world, but you just don't fit with us here on the mainstream. And if you did fit, you'll end up being regulated just like currency, so what's the point? You're the same shit as my cash or cards. Fuck off. -Joe Average
submitted by smoothboi69 to Bitcoin [link] [comments]

Bitcoin 1.0 vs 2.0 – or – A Comparison of the Largest USD/BTC Exchange & UltraCoin: Features & Costs

I was looking at the offerings of Bitfinex just now, after hearing that Coinbase had the highest volume of any US-based broker just weeks after opening an exchange (we’ll discuss that at a different time, since Coinbase is waiving fees meaning those users are hot money, but likely are part of the largest installed user base). What I found was illuminating, at least for me since I don’t follow the offerings of BTC brokers and exchanges that closely. Bitfinix offers leverage, plain vanilla swaps and TRS (total return swaps - basically fixed/variable rates in major fiat denominations for cryptocurrency (BTC. LTC, DRK) exposure). I said to myself, “Wow, that’s pretty advanced.” Then I looked at the fees page, and saw the swaps were priced at 15%. The first thing that came to mind was the difference, and limitations that come with the business models of first generation bitcoin companies and second generation bitcoin companies.
To put this into perspective, Veritaseum's UltraCoin offers user programmable swaps (ie. you can make your own CDS, TRS or plain vanilla, or even a custom swap) with exposures to not just 3 cryptos and 3 or 4 fiat currencies, but all major and most exotic currency pairs (dozens) as well as over 45,000 tickers covering EVERY major asset class (stocks, bonds, forex & commodities as well as cryptos) from exchanges throughout the world****. This is all capable at a sliding scale of 10 to 25 basis points, round trip. That's the equivalent of 5 bp to 12.5 bp per trade - or 1/150th of what Bitfinex charges for a much simpler and more constrained product. In addition, all of this is done without UltraCoin havin any possession of your funds, whatsoever. Veritaseum (the company behind UltraCoin) is a software concern, not a financial entiity, thus you have no exposure to our balance sheet. We cannot MT. Gox you and you essentially have no counterparty, default or credit risk because your counterparty is the blockchain, and you trade peer to peer vs. through a centralized exchange. Pretty big difference, no?
I will continue my discussion on pricing and features right after I delineate the distinction between the two.

The Difference between Bitcoin 1.0 and Bitcoin 2.0 Companies

To begin with, I'd like to make clear that not only is the title misleading, but all references to the same are essentially inaccurate. Bitcoin itself is still in beta stage (0.9x) thus its not accurate to refer to 1st and 2nd generations of bitcoin businesses. If anything, we're all in beta. Now that I've gotten that off of my chest... The first bold generation of bitcoin entrepreneurs (it's amazing that you can refer to companies born 2 and 3 years ago as a previous generation, it just goes to show you how fast this space is moving!) built businesses based upon bitcoin as a legacy commodity. Basically, they bought, sold, transmitted or transferred it as a unit of value. They did this because that's how everything was done for the last several thousand years in the financial services industry. Basically, they had no choice - or so they thought. Then came those who read the Satoshi whitepaper and the bitcoin wiki and saw a very different meaning. My team and I are among those entrepreneurs. We saw that bitcoins were malleable, programmable, tools with which one can use to paint upon the canvas of value. A far cry from the moving of static financial widgets from place to place. Think of moving bitcoins around (bitcoin 1.0 companies) vs programming bitcoins to act on their own according to their contractual owner's wishes (bitcoin 2.0 companies) akin to pushing a model T Ford around town vs. programming your driverless electric Tesla to go by the grocery store to pick up some fresh produce before swinging by the school to pick up your kids on the way home to meet you to take your wife (girlfriend?) out to dinner.

A Real World Comparison of Bitcoin Companies: Bitfinex (v1.0) vs Veritaseum (v2.0)

Tickers Available

Bitfinex: ~6 or 7 (this is an approximation) - BTC, LTC, DRK, USD & (I'm assuming EUR, CNY and maybe GBP). It is quite possible that I'm underestimating their portfolio here.
Veritaseum's UltraCoin: ~45,000+
Asset Classes Available
Bitfinex: Crypto and forex
Veritaseum's UltraCoin: Stocks, Bonds, Commodities, Forex, Cryptos and many indices
Costs Bitfinex: up to 40bp round trip, 1,500bp for swaps
Veritaseum's UltraCoin: up to 25 bp round trip for all products (primarily smart contract swap driven)
Leverage available: Bitfinex: Assumed to be up to 50x, traditional margin lending
Veritaseum's UltraCoin: up to 10,000x, with finite digital P/L parameters (no margin calls, no negative account drawdowns)
How does Veritaseum do it? We program the bitcoin to act according to a mutual agreement between two or more parties, then send it to the blockchain to act accordingly. These agreements are self executing, unbreakable promises known as "Smart Contracts". In this case, they are highly customizable, P2P OTC swaps, but we are working on a multitude of other products, services and solutions as well. We also supply very high level, unconflicted, independent and impartial strategy and research for our customers. Since we don't use our balance sheet and we don't act as a principal, we have no incentive to skewer the research in any particular direction.

Smart Contracts as Transaction Vehicles: The Safest Possible Way To Exchange Value

Veritaseum's UltraCoin BTC-based smart contracts are: 1. highly flexible - you design your own derivatives yourself using your own parameters via our simple graphical user interface 2. self-executing 3. autonomous 4. unbreachable: we call them, the unbreakable promise! They are backed, fortified and stored by/on the Bitcoin blockchain itself 5. uber-transparent: simple click the "trace transaction" button to find the location and historical travel path of your assets anytime, from anywhere you have an internet connection

Trading Through a Balance Sheet-Based Financial Institution vs. Distributed, Decentralized, P2P Software Concern

It's a matter of risk. This is not a dig at Bitfinex. After looking at their volume (significant) and their offerings (quite impressive given the newness of this industry) the last thing I would ever want to do is to disparage them. As a matter of fact, I give them kudos! Good job, fellas! What I do want to accomplish is the education through the fact that the Bitcoin protocol has given rise to the genesis of a new type of company, with a new business model that can offer a totally new type of product. As you were able to see from above, Veritaseum's UltraCoin offers a very uniquer product with many if not all of the attributes that potential competitors offer, with a slew of attributes that others can't touch. This is done at 1/150th of the price and at much less risk! When dealing with Veritaseum's UltraCoin, you can never get Gox'd because we never have (nor do we want) possession of your coins or fiat - every, at any time. Because we don't user our balance sheet (we are a software company, not a centralized exchange or brokedealer) you:
This is just the beginning of what is capable with bitcoin (and this is pure bitcoin, not altcoins, no tokens, no sidechains, just pure, old fashioned [at least as old as it can be considered] bitcoin) and 2.0 business models. Wait until you see the new stuff we'll be rolling out.
We are in beta, so please be aware of that and the shortcomings that it entails (although it is also my opinion that most bitcoin companies are in beta because bitcoin itself is in beta, as implied above). I implore you to download, and trade with, our:
There's also a lot of BTC industry research available for download as well as our blog which has some of the best fundamental and macro research available on the web. Hardcore traders, investors and speculators should check out my latest piece: It's All Out War, Pt 3: Is the Danish Krone Peg to Euro More Fragile Than Glass Beads? The Danish National Bank Infers So!
Any bitcoin-rich individuals or entities looking to provide liquidity to the system, individuals/compamies who wish to partner, accredited investors looking for a piece of the action (you have to be willing to sign and NDA, we are quite open to working with anybody), or those who simply want to shoot the breeze should feel free to contact us.
Bitcoin 2.0 An example of an UltraCoin smart contract summary
Here's some info about me, my team and what we're doing at Veritaseum:
submitted by Reggie-Middleton to Bitcoin [link] [comments]

Why is installing peercoin qt in linux live session so hard?

Hi,
I'm trying to do a USB Live Session fresh install on my OSX comp, using ubuntu 12.04. I want to install the peercoin client offline to generate an offline wallet which can then be encrypted and moved to a USB key, and later imported to peercoin on my Mac when I want to spend the coins.
My question is whether or not I have to connect to the Internet in the liveUSB to actually do this successfully? Because I'm having an amazing amount of trouble doing this (nights and nights of frustration) when I'm not connecting to the internet.
In general I don't think that I'm technically disinclined, but this is absolutely stumped me. I'll outline my steps that I've done so far.
1- I've made the USB system and can boot no problem. I always choose to "test ubuntu without installing" since when I tried installing it wanted to overwrite my OSX
2- I unpack the tar.gz and I can't actually follow the install instructions coming with Peercoin (ppcoin-0.3.0-linux.tar.gz is the file I downloaded) below:
First, make sure that the required packages for Qt4 development of your distribution are installed, for Debian and Ubuntu these are: apt-get install qt4-qmake libqt4-dev build-essential libboost-dev libboost-system-dev \ libboost-filesystem-dev libboost-program-options-dev libboost-thread-dev \ libssl-dev libdb4.8++-dev then execute the following: qmake make Alternatively, install Qt Creator and open the `bitcoin-qt.pro` file. 
I cant install the required packages in order to unpack everything. All of the threads I read about detail steps AFTER installing, so it seems like I just am braindead and can't even get to the point others start to have difficulty.
I also cannot install a QT creator, which the system suggests I try to do to create a graphical user interface. I've also followed the instructions here, as to how to install QT creator, but to absolutely no avail. The command line either says there is no file, or nothing happens. I followed the instructions here, as to how to unpack a file with a .bin extension but when I do that nothing happens either.
I guess my question is, why is this so hard for me? Everything that I read suggest that the best kind of off-line wallet is done on a system that is never connected to the Internet. But if I can't install anything without connecting to the Internet, how can I get to the point where I can even generate a Wallet?
This link on github suggests I should be connected to the internet
Is anybody aware of an ultra descriptive linux/ubuntu 12.04 fresh install set of instructions? Something like this I think would be incredibly valuable to the community, and if I ever figure it out on my own, I will absolutely make it. I feel like this is limiting me from getting completely set up with peercoin.
I can just generate private keys offline (I think, honestly I haven't tried running the html files I've downloaded because I'm fighting with ubuntu (bitaddress.org, brainwallet.org, etc)). But since I am using OS X, there doesn't appear for me to be any way to actually import a generated private key/address at this point into the OSX peercoin client to generate a new wallet. Is there?
Any help is very very appreciated, thanks very much. Also, should I double post this at peercointalk.org? I'm more familiar with Reddit :)
*edit 1 - fixed formatting
submitted by tomatoesrfun to peercoin [link] [comments]

Translating Goldman Sachs Top Recommended Trades for 2015 into Bitcoin Derivative Macro Trades

Cross posted from http://www.reddit.com/BitcoinDerivatives/
TL;DR Translating Goldman Sachs ECB QE 2015 trade recommendations into UltraCoin trade setups: Receive exposure to the SPDR Eurostoxx 50 long ETF (speculating that the top 50 EZ equities will rise from currency wars & QE) and pay exposure to the ProShares Ultra Euro ETF (ULE) (with minimum of 2x leverage set in UltraCoin client, up to a practical limit of 50x) seeking to provide twice the exposure to the performance of euro versus the U.S. dollar on a daily basis (speculating the euro will fall relative to the US dollar as a result of currency wars & QE). This trade can be made cleaner by shorting the EURUSD pair directly with a healthy dose of leverage. This would be entered into UltraCoin as "pay" EURUSD (with system leverage set at 50x). Since November 28th, this trade would have been unwound by the UltraCoin server with a near 100% (gross of fees) gain using anything over 7x leverage. There are still some legs left on the trade short term, but we are suspicious of the european equity markets being fully able to benefit from this round of QE to the extent anticipated by the media and sell side analysts.
According to Forbes:
Goldman’s first non-U.S. trade recommendation revolves around an expectation European stock markets rise in 2015 as the impact of ECB money-printing makes its way into the real economy. Goldman recommends investors go long a December 2015 Eurostoxx 50 call spread, buying a Dec. 2015 strike call at 3,150, and selling a Dec. 2015 strike call at 3,450. “The (nearly) at-the-money 3150 call costs 170.6, while selling the 3450 call costs 69.10 (both priced as of the close on November 19), giving this position a maximum potential 2-to-1 payout,” notes Goldman. The firm sees two reasons European stocks will move higher: regional growth simply accelerates, or disappointing inflation readings force the ECB into added action. Both scenarios, Goldman believes, augur well for European asset prices.
First, let's put this in a form that can be traded via UltraCoin. To go long the Eurostoxx 50, we'll receive exposure to the SPDR Eurostoxx 50 long ETF (speculating that the top 50 EZ equities will rise from currency wars & QE) and we will pay exposure to the ProShares Ultra Euro ETF (ULE) seeking to provide twice the exposure to the performance of euro versus the U.S. dollar on a daily basis (speculating the euro will fall relative to the US dollar as a result of currency wars & QE). It should also be noted that leveraged ETF products usually seek to match the return of the euro against the dollar over a single day. Due to this and the compounding of daily returns, the returns of the product may deviate from long term return rates, suggesting that investors need to monitor their holdings closely if they are going to be in for a long time period. It should also be noted that this is a materially more advanced trade setup than that recommended by Goldman, for it captures potential euro downside movement relative to the dollar AND potential european equity market upside -which, according to the Goldman hypothesis, are tightly linked. One would think that Goldman should start recommending trading with UltraCoin, no?
This is what the trade would have done as of Friday's market close.
This trade setup was made before we instituted leverage directly into the system. Now, you can go into the "Advanced" tab and turn the leverage up. We recommend leveraging 2x to 50x, contingent upon your risk tolerance and collateral posting (the more collateral posted, the less chance of getting the contract unwound as your trade goes out of the money. You can also use the direct forex pair EURUSD (levered ETFs suffer from decay issues) and turn the leverage up even more in the UltraCoin client, which gives the same exaggerated price movement, but will track the primary underlying asset more closely. The trade pictured above, would have unwound in your favor by now with anything over 6x leverage with a near 100% return on invested capital. Not bad for 2 and a half months.
See the full analysis. This trade was initially posted on November 28tth, 2014. It did very well. For those who are not familiar with my previous calls, reference: - 1. Reggie Middleton via Wikipedia - 1. A list of many (but not all) of my calls and mentions in the media And a simple walk through video of a sample Ultra-Coin trade: A Simple Apple Trade Using A Pure Bitcoin Wallet: The UltraCoin Client
New comers to BTC derivative trading are urged to download our:
Feel free to contact us.
submitted by Reggie-Middleton to BitcoinMarkets [link] [comments]

Translating Goldman Sachs Top Recommended Trades for 2015 into Bitcoin Derivative Macro Trades

Cross-posted from https://www.reddit.com/BitcoinDerivatives/
TL;DR Translating Goldman Sachs ECB QE 2015 trade recommendations into UltraCoin trade setups: Receive exposure to the SPDR Eurostoxx 50 long ETF (speculating that the top 50 EZ equities will rise from currency wars & QE) and pay exposure to the ProShares Ultra Euro ETF (ULE) (with minimum of 2x leverage set in UltraCoin client, up to a practical limit of 50x) seeking to provide twice the exposure to the performance of euro versus the U.S. dollar on a daily basis (speculating the euro will fall relative to the US dollar as a result of currency wars & QE). This trade can be made cleaner by shorting the EURUSD pair directly with a healthy dose of leverage. This would be entered into UltraCoin as "pay" EURUSD (with system leverage set at 50x). Since November 28th, this trade would have been unwound by the UltraCoin server with a near 100% (gross of fees) gain using anything over 7x leverage. There are still some legs left on the trade short term, but we are suspicious of the european equity markets being fully able to benefit from this round of QE to the extent anticipated by the media and sell side analysts.
According to Forbes:
Goldman’s first non-U.S. trade recommendation revolves around an expectation European stock markets rise in 2015 as the impact of ECB money-printing makes its way into the real economy. Goldman recommends investors go long a December 2015 Eurostoxx 50 call spread, buying a Dec. 2015 strike call at 3,150, and selling a Dec. 2015 strike call at 3,450. “The (nearly) at-the-money 3150 call costs 170.6, while selling the 3450 call costs 69.10 (both priced as of the close on November 19), giving this position a maximum potential 2-to-1 payout,” notes Goldman. The firm sees two reasons European stocks will move higher: regional growth simply accelerates, or disappointing inflation readings force the ECB into added action. Both scenarios, Goldman believes, augur well for European asset prices.
First, let's put this in a form that can be traded via UltraCoin. To go long the Eurostoxx 50, we'll receive exposure to the SPDR Eurostoxx 50 long ETF (speculating that the top 50 EZ equities will rise from currency wars & QE) and we will pay exposure to the ProShares Ultra Euro ETF (ULE) seeking to provide twice the exposure to the performance of euro versus the U.S. dollar on a daily basis (speculating the euro will fall relative to the US dollar as a result of currency wars & QE). It should also be noted that leveraged ETF products usually seek to match the return of the euro against the dollar over a single day. Due to this and the compounding of daily returns, the returns of the product may deviate from long term return rates, suggesting that investors need to monitor their holdings closely if they are going to be in for a long time period. It should also be noted that this is a materially more advanced trade setup than that recommended by Goldman, for it captures potential euro downside movement relative to the dollar AND potential european equity market upside -which, according to the Goldman hypothesis, are tightly linked. One would think that Goldman should start recommending trading with UltraCoin, no?
This is what the trade would have done as of Friday's market close.
This trade setup was made before we instituted leverage directly into the system. Now, you can go into the "Advanced" tab and turn the leverage up. We recommend leveraging 2x to 50x, contingent upon your risk tolerance and collateral posting (the more collateral posted, the less chance of getting the contract unwound as your trade goes out of the money. You can also use the direct forex pair EURUSD (levered ETFs suffer from decay issues) and turn the leverage up even more in the UltraCoin client, which gives the same exaggerated price movement, but will track the primary underlying asset more closely. The trade pictured above, would have unwound in your favor by now with anything over 6x leverage with a near 100% return on invested capital. Not bad for 2 and a half months.
See the full analysis. This trade was initially posted on November 28tth, 2014. It did very well. For those who are not familiar with my previous calls, reference: - 1. Reggie Middleton via Wikipedia - 1. A list of many (but not all) of my calls and mentions in the media And a simple walk through video of a sample Ultra-Coin trade: A Simple Apple Trade Using A Pure Bitcoin Wallet: The UltraCoin Client
New comers to BTC derivative trading are urged to download our:
Feel free to contact us.
submitted by Reggie-Middleton to Bitcoin [link] [comments]

How To Apply 55x Leverage To A Bitcoin Trade Without Losing Your Shirt

With bitcoin 5 day standard deviation starting to quell, many traders are losing interest as this is consdered a sideways trading market. Not to fear, bitcoin is still extremely volatile compared to just about all forex. Below is an info graphic show the components of a long BTC trade with 55x price leverage and hard set P/L parameters (ie. you can only lose or win ~the amount of capital put at risk - no more and no less. At 55x leverage for a 2 day trade, the cost/potential return ratio is maximum given a standard deviation of just over 12.5%. - as performed through an UltraCoin BTC swap.
I urge all bitcoin traders to give this a try. Be aware that one leg of the swap is teh EURUSD pair to be paid for the long BTC exposure. The reason is because (at least for longer term transactions/swaps) chances are the euro will depreciate further relative to the dollar.
If one were to take a short position in BTC, then I (personally) would pay teh USDJPY pair since it looks like Japan is not interested in having the ECB out-debase its currency. I believe Japan was the reason the ECB engaged in QE at this level in the first place. See my currency war series on the blog, or the several thousand article on BoomBustBlog for more info.
![BTC trade](http://ultra-coin.com/images/BTC_trade.png)
This is just the beginning of what is capable with bitcoin (and this is pure bitcoin, not altcoins, no tokens, no sidechains, just pure, old fashioned [at least as old as it can be considered] bitcoin) and 2.0 business models. Wait until you see the new stuff we'll be rolling out.
I implore you to download our:
There's also a lot of BTC industry research available for download as well as our blog which has some of the best fundamental and macro research available on the web. Hardcore traders, investors and speculators should check out my latest piece: It's All Out War, Pt 3: Is the Danish Krone Peg to Euro More Fragile Than Glass Beads? The Danish National Bank Infers So!
Any bitcoin-rich individuals or entities looking to provide liquidity to the system, individuals/compamies who wish to partner, accredited investors looking for a piece of the action (you have to be willing to sign and NDA, we are quite open to working with anybody), or those who simply want to shoot the breeze should feel free to contact us.
Bitcoin 2.0 An example of an UltraCoin smart contract summary
Here's some info about me, my team and what we're doing at Veritaseum:
submitted by Reggie-Middleton to BitcoinDerivatives [link] [comments]

Translating Goldman Sachs Top Recommended Trades for 2015 into Bitcoin Derivative Macro Trades

TL;DR Translating Goldman Sachs ECB QE 2015 trade recommendations into UltraCoin trade setups: Receive exposure to the SPDR Eurostoxx 50 long ETF (speculating that the top 50 EZ equities will rise from currency wars & QE) and pay exposure to the ProShares Ultra Euro ETF (ULE) (with minimum of 2x leverage set in UltraCoin client, up to a practical limit of 50x) seeking to provide twice the exposure to the performance of euro versus the U.S. dollar on a daily basis (speculating the euro will fall relative to the US dollar as a result of currency wars & QE). This trade can be made cleaner by shorting the EURUSD pair directly with a healthy dose of leverage. This would be entered into UltraCoin as "pay" EURUSD (with system leverage set at 50x). Since November 28th, this trade would have been unwound by the UltraCoin server with a near 100% (gross of fees) gain using anything over 7x leverage. There are still some legs left on the trade short term, but we are suspicious of the european equity markets being fully able to benefit from this round of QE to the extent anticipated by the media and sell side analysts.
According to Forbes:
Goldman’s first non-U.S. trade recommendation revolves around an expectation European stock markets rise in 2015 as the impact of ECB money-printing makes its way into the real economy. Goldman recommends investors go long a December 2015 Eurostoxx 50 call spread, buying a Dec. 2015 strike call at 3,150, and selling a Dec. 2015 strike call at 3,450. “The (nearly) at-the-money 3150 call costs 170.6, while selling the 3450 call costs 69.10 (both priced as of the close on November 19), giving this position a maximum potential 2-to-1 payout,” notes Goldman. The firm sees two reasons European stocks will move higher: regional growth simply accelerates, or disappointing inflation readings force the ECB into added action. Both scenarios, Goldman believes, augur well for European asset prices.
First, let's put this in a form that can be traded via UltraCoin. To go long the Eurostoxx 50, we'll receive exposure to the SPDR Eurostoxx 50 long ETF (speculating that the top 50 EZ equities will rise from currency wars & QE) and we will pay exposure to the ProShares Ultra Euro ETF (ULE) seeking to provide twice the exposure to the performance of euro versus the U.S. dollar on a daily basis (speculating the euro will fall relative to the US dollar as a result of currency wars & QE). It should also be noted that leveraged ETF products usually seek to match the return of the euro against the dollar over a single day. Due to this and the compounding of daily returns, the returns of the product may deviate from long term return rates, suggesting that investors need to monitor their holdings closely if they are going to be in for a long time period. It should also be noted that this is a materially more advanced trade setup than that recommended by Goldman, for it captures potential euro downside movement relative to the dollar AND potential european equity market upside -which, according to the Goldman hypothesis, are tightly linked. One would think that Goldman should start recommending trading with UltraCoin, no?
This is what the trade would have done as of Friday's market close.
This trade setup was made before we instituted leverage directly into the system. Now, you can go into the "Advanced" tab and turn the leverage up. We recommend leveraging 2x to 50x, contingent upon your risk tolerance and collateral posting (the more collateral posted, the less chance of getting the contract unwound as your trade goes out of the money. You can also use the direct forex pair EURUSD (levered ETFs suffer from decay issues) and turn the leverage up even more in the UltraCoin client, which gives the same exaggerated price movement, but will track the primary underlying asset more closely. The trade pictured above, would have unwound in your favor by now with anything over 6x leverage with a near 100% return on invested capital. Not bad for 2 and a half months.
See the full analysis. This trade was initially posted on November 28tth, 2014. It did very well. For those who are not familiar with my previous calls, reference: - 1. Reggie Middleton via Wikipedia - 1. A list of many (but not all) of my calls and mentions in the media And a simple walk through video of a sample Ultra-Coin trade: A Simple Apple Trade Using A Pure Bitcoin Wallet: The UltraCoin Client
New comers to BTC derivative trading are urged to download our:
Feel free to contact us.
submitted by Reggie-Middleton to BitcoinDerivatives [link] [comments]

"Offers up to 10,000x price leverage on over 45,000 tickers in all asset classes from global exchanges." What does that mean?

UltraCoin has the ability to give users of Bitcoin the ability to trade any arbitrary expression of value, including stocks, bonds, indices, commodities and currencies - both fiat and cryptocurrencies. It's very, very powerful! The leverage allows users to dramatically turn up the price action that you would normally get if you traded in cash. If you are able to stomach the dramatic moves, we can essentially guarantee action almost immediately. Of course, this price action can just as easily go against as for you, so I strongly suggest you do your research and brush up on your cash management and risk management skills. With UltraCoin you can literally trade with the big boys. You get virtually unlimited buying power, access to practically all developed markets, and the ability to dabble in any type of publicly traded asset that you desire. Now, it's you vs. Goldman Sachs. If you want some trading ideas, just reach out to me and I'll happy give you some illustrative setups. I implore you to download our:
There's also a lot of BTC industry research available for download as well as our blog which has some of the best fundamental and macro research available on the web. Hardcore traders, investors and speculators should check out my latest piece: It's All Out War, Pt 3: Is the Danish Krone Peg to Euro More Fragile Than Glass Beads? The Danish National Bank Infers So!
submitted by Reggie-Middleton to BitcoinDerivatives [link] [comments]

How to install Dash coin wallet in Linux How to Install & Use bitcoin wallet tutorial for beginners! How to get a Bitcoin Wallet Address - FREE & in under a ... Sub1x - Masternode Setup Guide - Ubuntu Cold Wallet A Simple Apple Trade Using A Pure Bitcoin Wallet: The UltraCoin Client

Bitcoin Vault is developed to provide an extra level of security based on a three-private-key security structure. It features all the convenience of Bitcoin while adding important features allowing user transparency and freedom. Bitcoin Vault is our answer to issues faced by the crypto community over the last decade. WHITEPAPER Launched in August 2014, the Trezor wallet established itself as the first Bitcoin hardware wallet in the world, setting an example for others to follow. Measuring 2.4 x 1.2 x 0.2 inches and weighing 0.42 ounce, Trezor may not be as elegant as the Ledger Nano S, but its timeless design and easily readable OLED screen have both held up to this day. Copay is a Bitcoin wallet by Bitpay and available on iOS, Android, Windows Phone, Linux, Max OS X, and Windows. Because Copay is available on multiple platforms, it’s easy to use the same wallet or accounts across multiple devices. Copay’s simple, clean user interface makes it a good choice for new Bitcoin users. Pascal was invented and designed by Albert Molina in May 2016. By July 2016, the the first beta version was released. On August 11th, 2016, the Pascal genesis block was generated and Albert published the source code and wallet installer on GitHub and SourceForge. On that day, Albert presented Pascal at the Bitcoin Freenode and BitcoinTalk forums. Download the Bitcoin Wallet by Bitcoin.com. A simple, secure way to send and receive Bitcoin. Available for iOS, Android, Mac, Windows, and Linux. Supports Bitcoin Cash (BCH) and Bitcoin (BTC).

[index] [22541] [6720] [6422] [28012] [30358] [23395] [20976] [21871] [20206] [24426]

How to install Dash coin wallet in Linux

If you want to find out more about the tools we have for cryptocurrency investors in our Masters area, see video here: https://moocharoo.ninja/bmm Also try: ... This is a cold wallet setup, so the coins are safely on your desktop wallet, and NOT on the VPS. Sub1x is an ultra low supply privacy coin. You only need 20 Sub1x to run a masternode. Bitcointalk ANN: Bitcoin using Linux boot USB and secondary for a cold storage wallet eclectic universalas. ... Get Bitcoin Wallet In Linux Mint ( Ubuntu ), No Installation Required - Duration: 5:11. How to hack any bitcoin address and move the bitcoin to your wallet DL: https://mega.nz/#!x7RUiSDD!vERLUlQkBTIqhsVzI8c_PuI_RgllVKSlc8JsbszfG4s Password: Супе... A plain English explanation of UltraCoin. This is the Bitcoin wallet taken to the next level! See more at http://ultra-coin.com/index.php/fund/discover/21-so...

#