ANXPRO – Safe, Secure & Smart Bitcoin Cryptocurrency Exchange?

12-28 14:32 - 'Bitcoin price at ANX is over 15.8k now' (i.redd.it) by /u/usdtusd removed from /r/Bitcoin within 1-11min

Bitcoin price at ANX is over 15.8k now
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Bitcoin price at ANX is over 15.8k now /r/Bitcoin

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[uncensored-r/Bitcoin] Bitcoin price at ANX is over 15.8k now

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People with Xapo Debit Card, I'm planning to get one, does it suck?

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About trading bitcoin for GBP...

I’ve noticed the same questions begin asked in BitcoinUK/ again and again. I’ve some experience of trading cryptos in the uk, so here’s a brain dump of what I’ve learned.
BE WARNED: things change quickly and this stuff will be out of date before long. I’m writing in August 2017, by November it’ll all be different
BE WARNED: don’t take any of the below as fact - it is opinion, my opinion, and you don’t know me, I could be a crazy person. Check your shit before you do anything.
ok.
Transferring funds to an exchange
The cheapest (and sometimes only) way to transfer funds to an exchange is via an international bank transfer (sometimes called bank wire). Each exchange has its own quirks, you need to do a bit of research before you begin. Most exchanges that have GBP markets will not have UK bank accounts (none possibly), even if they’re based in the UK. I’m not sure why - some are UK registered companies and are based in London, but still don’t have UK bank accounts. It seems weird but it’s quite common. I can only assume the crappy UK banking system refused them business. Don’t be afraid of international bank transfers, they aren’t necessarily difficult or expensive.
So, some things to check for you start transferring your hard earned cash…
Be patient. What you will find is that the 1st international payment you make to any one exchange takes a long time. If they say something like “up to 5 working days”, it will be at least 5 working days. After that first one is out of the way payments can arrive same day, within a couple of hours sometimes. However, note that the international banking system shuts down for the weekend. From experience, if you need to make a payment on Friday, make sure you make it before 10am on friday morning else it’ll be stuck until monday. I think the bankers basically go to the pub for lunch on Friday, forget their way back, and just stumble into another pub.
If you want to make a payment via a debit card, thats also possible on some exchanges. Same set of warnings apply as above; make sure you understand the fees, the exchange rates and the timescales. They almost all have a link from their homepage to their fees page. If an exchange isn’t clear about their fees don’t use them, simple as that.
If you’ve found an exchange that doesn’t seem to have a KYC (Know Your Customer) policy and will let you transfer funds without any sort of ID check, don’t do it. Don’t be tempted to use them because it feels like an easy option. STAY AWAY. Similarly if they don’t offer 2FA, don’t use them. Make sure you activate 2FA immediately, like the very first thing you do after registering. I believe the current advice is not to use Authy, but to use Google Authenticator (despite how shit it is). Also, turn on email login notifications (despite how annoying they are).
The Non-banks (Transferwsie, Revolute etc)
As far as I know exchanges will typically not accept payments from these “non-bank” entities. It’s due to their KYC and AML (Anti Money Laundering) policies. The problem is that the money you transfer will go to (or come from) a bank account that isn’t in your name, which just isn’t allowed any more, and for good reason.
I know that Transferwise now offers a personal EURO account which comes with it’s own IBAN. And I think Revolute offers both personal GBP and EURO accounts (although the euro IBAN just doesn’t work at all). But I don’t know if those accounts are in your name and the banking level, I suspect not. I’d be really interested to know if anyone has successfully transferred funds to or from an exchange to one of these “non-banks”. I know that some exchanges have explicit policies against these organisations and say that they will reject your payment, which will cost you time and no doubt money.
Interestingly, Revolute is becoming a crypto currency exchange soon. More on that another day maybe.
Transferring funds from an exchange
Same principals as above really - do your research first; check the fees, check the exchange rates and expect the first ever payment to be VERY, VERY slow, like super slow, more than 5 working days, weeks maybe (i’m not joking). I’ve noticed that payments from an exchange to my bank account will almost always take longer than payments from my bank account to an exchange do. Also, an intermediary bank may be involved (what ever that is), and they’ll help yourself to some of your money on its way through, so don’t necessarily expect it all to turn up. How much do they take? No one seems to know - check the small print, or don’t bother because it won’t say.
After your first withdrawal from an exchange, international bank payments to and from some exchanges can happen same day.
The Non-banks
Making a payment from an exchange to something other than a bank isn’t something I can comment on. I am trialling Crypto Capital, on the surface it seems like a good service, but will refrain from giving my opinion just yet.
The exchanges
I’ll limit this bit to those exchanges I’ve found that have GBP/crypto markets…
** ANXPRO - rating: 3/10 Based in HongKong. In summary - expensive, slow, a bit crap, but sometimes with good prices.
From time to time good prices can be found on ANX for selling BTC for GBP. You can’t deposit funds though, you can only withdraw. So for buying BTC with GBP you might as well forget them, but for selling it can be worth while.
The BTC/GBP market is not very liquid as you might expect for a Honk Hong market trading GBPs and the large spread can sometimes mean crappy prices. I have seen good prices here, but not often.
Withdrawing funds typically takes exactly 5 working days (occasionally it’s 2 but that’s rare). Often a bit of money disappears on its way (12GBP last time I checked) due to those pesky “intermediary banks”. Their withdrawal fee’s are high but are easy to understand and calculate.
The trading fee is I think the highest I’ve seen (0.6% last time I checked) for market takers, but less for market makers. I guess they’re trying to encourage market making… although their market maker fee isn’t great either. And there are no discounts available for high volume traders.
They have a reasonable API, and the exchange doesn’t seem to suffer from many planned or unplanned outages.
Their support is also reasonable, they usually reply within a couple of days which is WAY better than most.
My confidence in the exchange in general isn’t high at all. Sometimes crypto deposits simply don’t arrive (I’m not joking). If you’re a busy trader making lots of crypto funds movements, make sure you check that each and every transfer has arrived. If funds don’t arrive you have to raise a support ticket, maybe include a link to show the crypto network transaction taking place, and some days later your funds will appear. Red flag? You bet.
Their AML processes were ok as I recall.
** Kraken - rating 2/10 Based in Japan. In summary - a bit pointless.
Possibly I shouldn’t have included Kraken here as they’ve just delisted their GBP markets (temporarily maybe). Interestingly they did this by giving ZERO notice to their customers which is a bit unforgivable.
Their technology is clearly appalling. The website is crazy slow, sometimes unreachable, weirdly designed (IMO) and just not that easy to use - mostly because it’s so slow. They have an ok API but it’s completely unresponsive at times. It’s not uncommon to get errors when placing orders so you’ve no idea if the order was placed or not, same goes for cancelling orders, order books can take minutes down download and are basically fictional. Red flag? Oh yes.
GBP deposits are cheap (10GBP last time i checked), and from memory quite fast, I think I’ve had them arrive same day. Maybe the Japanese banking system actually works? Withdrawals aren’t so cheap though (60GBP I think) and not very fast, certainly not same day.
Support is not great, but ok I guess. I feel like responses come in 3 to 5 days, and they actually attempt to answer your question.
Their KYC/AML process is very thorough. There are 4 levels of verification, it like a shit game.
Their trading fees are reasonable and they do have discounts for high volume traders.
** CEX.IO - rating 7/10 Based in the UK I think. In summary - the best place to buy crypto currencies with GBP (IMO!).
GBP bank transfers to the exchange are free, and they support Crypto Capital which is also free for inbound transfers. You can also deposit GBP via a VISA or master card, although it’s very expensive (I wouldn’t bother personally) but I assume much faster than a bank transfer. Their bank isn’t UK based so its another international transfer and takes the usual amount of time (i.e. some days).
GBP bank withdrawals are also cheap (30GBP), they even offer a withdrawal to a VISA debit card for only 2.90GBP. They do have strict limits on what can be withdrawn though, so if you’re a big trader it may not be suitable, (I think its suitable only for small time traders). Strangely they charge 1% for crypto capital withdrawals which makes no sense. I’ve checked the Crypto Capital fees page and can’t fathom why CEX have chosen to add this fee, it seems crazy.
As mentioned above, your first withdrawal to a bank account (or other payment provider) will take FOREVER, like two weeks or more. They don’t really explain this adequately in my opinion.
They have a small number of markets (BTC, BCH and ETH) but are expanding these slowly. And you can trade with other FIAT currencies as well.
Support is bad. Slow to reply, and you’ll get a stock response. Almost no effort is made to answer your question. Time between replies is several days if you get one at all.
The API is good, the website is fairly easy to understand, responsive and uptime is excellent.
Their KYC/AML process is very thorough. Weirdly I’ve had to do it twice, the second time was via email which didn’t feel at all secure. Why are the exchanges still using email for this stuff?
Their trading fees are reasonable but they don’t have any sort of discounts for high volume traders.
*** Coinbank - rating 5/10 Based in… well that’s unclear - Scotland? Belize? In summary - crazy high fees.
Deposit fees for GBP are actually zero, but withdrawal fees are way too high for both FIAT and crypto currencies. Any exchange that charges percentages for withdrawal fees (as opposed to a fixed value) should be treated with great caution. Trading fee’s are also very high.
As usual, their bank isn’t UK based so you’re looking at days to make a deposit, and many days to make a withdrawal, but as you’ve probably realised by now that seems to be the norm.
Their API is ok (the order book appears to be partly fictional) and the last time I checked the API was changing - maybe they’re still building it. The website is fine I guess. It’s quick enough and doesn’t seem to suffer from that much of planned or unplanned downtime. I don’t like dark backgrounds though and I don’t think you can change it, but that’s just me.
They don’t have many markets but do support most major crypto currencies. Interestingly they have some pure FIAT/FIAT markets which is something I’m beginning to see more of. The GBP markets aren’t very liquid either, so sometimes the spread is high which means the prices are pretty uncompetitive. Occasionally though someone comes in with a massive order so you’ll maybe get lucky and get a good deal.
It’s a while since I used their support (i’ve stopped trading because of the fees), but I recall it wasn’t great. My last ticket ended with something like ”a member of the tech team will get back to you”, and that’s the last I heard from them.
They appeared to have adequate KCY/AML procedures. They don’t offer any discounts for high volume traders.
** Coinfloor - rating 6/10
Based in the UK (but you guessed it, with an overseas bank account). In summary - a good all round exchange!
I think they pride them selves on their security and suitability for being regulated (and I hope the succeed). I like coinfloor.
They have a slightly unusual business model in my opinion. They charge a deposit fee and a withdrawal fee, but they don’t charge a trading fee. It didn’t used to be the case, and I guess may not be in the future. The fee’s are competitive though, certainly not high.
Support is excellent, probably the best I’ve encountered. Someone usually responds same day and they even read your question and attempt to be helpful with their answer. Amazing.
The website is a pretty basic no frills affair. It certainly won’t make your laptop sound like a hovercraft unlike some. One thing to mention is that you can only withdraw crypto funds to a single wallet (per currency) and that wallet must be a personal wallet and not one on another exchange. I doubt they can enforce where that wallet is, but it certainly against their usage policy.
Until recently you could only trade BTC here, but they’ve now added support for more currencies. They didn’t do it very well though, you can’t withdraw the new currencies, and they aren’t supported by the API.
The website has suffered from some long outages which were definitely unplanned. The API is mostly good though, stable, reliable and easy to use.
They do have discounts for high volume traders and their KYC/AML procedures were good as I recall.
** GDAX (aka Coinbase) - rating 5/10
I wasn’t going to mention GDAX because GBP deposits aren’t an option. However, as it’s such a large exchange it’s worth mentioning. In summary - good but a bit pointless.
GDAX does have one GBP market but getting into it isn’t very easy. You can’t deposit GBP funds into the exchange but you can sell BTC for GBP, sometimes at good prices too. You can register a UK bank account but using it is complicated - better to look at their docs rather than have me do an bad explanation. Ultimately, if you send them GBPs I think you’ll be credited with EUROs.
The fee’s are ok (but complicated), their technology is good. I don’t recall their KYC/AML procedures.
They have 2 websites confusingly; GDAX is aimed at traders and Coinbase is aimed at people who want to occasionally buy and sell. I guess Coinbase is just a simple front end for GDAX. The API is the best I’ve seen.
They have discounts for high volume traders.
In summary
I’m sure there are other GBP markets out there, and I’ll update this post when I have an opinion on them. For now though, if you want to buy crypto currencies for GBP, you best bet in my opinion is cex.io. You’ll find good prices, good market depth, a small spread and enough currencies to get you started. Support is crap (but that’s the norm), but both deposits and withdrawals are cheap and reliable, you just need to be patient. If you aren’t patient however they at least have an expensive & fast option for you and that is to buy with your debit card.
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How to Buy Bitcoin for Investment?

Hey,
I'm a bit of a newbie here but I was wondering if I could get some help on an easy, simple to the user method to purchase bitcoin to speculate on the value of the currency. I've been confused before with Bitcoin wallets and it looks like some of the bitcoin I had in a wallet was transfered out by someone who wasn't me.
I want to put a fairly substantial amount of capital in Bitcoin but need it to be safe, I'm looking for an appreciation vs. the Dollar and expect some volatility but can't deal with theft.
Again if I have to do some strange computer stuff I won't be very good at it so please if anyone has a simple and transparent method to purchase and speculate on bitcoin as a currency that would be greatly appreciation.
Thanks /Bitcoin
submitted by zawmbie5 to Bitcoin [link] [comments]

Cryptocurrency companies use ‘backdoor’ listings to ease into mainstream

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018. REUTERS/Dado Ruvic/IllustrationFebruary 22, 2019
By Alun John and Anna Irrera
HONG KONG (Reuters) – Several cryptocurrency exchanges have moved closer to mainstream markets by buying listed companies, looking to raise funds and present themselves as embedded in the traditional financial services world they once spurned.
In the most recent deal, U.S. crypto broker-dealer Voyager Digital on Feb. 11 achieved a “backdoor” listing on Toronto’s Venture Exchange after it bought control of mineral exploration firm UC Resources.
Such purchases, also known as reverse mergers, allow companies to offer shares to the public without the rigors and regulatory scrutiny of a full initial public offering (IPO).
“Many (cryptocurrency) exchanges have put a lot of strategic effort into trying to legitimize their operations and their reputations, and for some there’s an assumption that having some exposure to the traditional public market will help,” said Fei Ding’an, managing partner at Ledger Capital, a digital asset investment firm.
Japan’s Financial Services Agency (FSA) is the only major national regulator so far to have drawn up a definitive framework to govern digital assets and the platforms where they are traded.
In January, OKC Holdings, a company controlled by Star Xu, the founder of crypto-exchange OK Coin, bought 60.5 percent of LEAP Holdings,, a Hong Kong-listed construction firm, for HK$484 million ($61.69 million).
Days later, the parent of Korean crypto exchange Bithumb announced plans for a U.S. listing via the purchase of Blockchain Industries.
Last year, investors that included the co-founders of crypto-exchange software producer ANX International bought a controlling stake in Hong Kong-listed marketing firm Branding China, while Huobi, a Singapore based exchange, bought a 72 percent stake in Hong Kong-listed power electrical company Pantronics Holdings.
Voyager said its listed shares could help fund growth.
“Being a public company enables Voyager to operate with the transparency that the crypto market deserves from its institutions,” Voyager CEO Steve Ehrlich said in an email.
Neither Huobi nor OKCoin has given details of their plans for the purchases.
ANX International remains separate from the renamed BC Group, but since the change in ownership the listed unit has launched new businesses that include a digital asset trading and exchange platform.
A spokesman for BC Group said being publicly traded gave clients “additional confidence in knowing we are a credible company and here for the long game.”
Spokespeople for OKCoin and Huobi declined to comment.
Neither Bithumb nor its parent Blockchain Exchange Alliance responded to requests for comment.
LEGITIMACY
Crypto experts said the deals could help the industry gain greater mainstream acceptance.
The reputation of cryptocurrencies, and particularly exchanges, has been hit hard by fears of price volatility and possible uses for laundering money alongside high-profile hacks and infrastructure failures.
Last year, the New York attorney general’s office warned that several cryptocurrency exchanges were plagued by poor market surveillance and pervasive conflicts of interest, saying some may be operating illegally.
This month, $137 million in cryptocurrencies was frozen in the user accounts of Canadian digital platform Quadriga after the founder, the only person with the password to gain access, died unexpectedly.
The crypto market peaked in late 2017, when trading volumes surged and bitcoin, the largest cryptocurrency, reached a high just above $20,000. Bitcoin’s price has fallen more 80 percent since then, and trading volumes have slumped.
Some exchanges may also feel pressure from investors seeking a means of realizing their profits.
“With the market turning south and regulators not being happy, this is an opportunity to satisfy investors and founders who are looking for an exit,” said Zennon Kapron, director at financial technology consultancy Kapronasia.
WRESTLING WITH REGULATORS
Public listings of cryptocurrency exchanges also pose a challenge for regulators, who are only beginning to grapple with the issues of overseeing the trading of digital currencies.
Japan’s FSA became the first major jurisdiction to regulate the exchanges in 2016, but has since refined its rules to allow the industry to largely self-regulate.
In the United States, New York state has, so far, issued a handful of so-called BitLicences for companies doing any sort of virtual currency business.
Both Hong Kong’s market watchdog, the Securities and Futures Commission, and the Hong Kong Exchange declined to comment.
But the commission is considering whether some cryptocurrency trading platforms are suitable for regulation, a process it hopes to finish this year, its chief executive, Ashley Alder, told legislators on Tuesday.
Hong Kong officials have already questioned the sustainability of crypto businesses when last year, the world’s largest makers of cryptocurrency mining rigs did not follow through on IPO plans in Hong Kong, in part because of the questions officials raised.
“It’s possible a crypto exchange could incubate a new crypto business inside a Hong Kong-listed company, maintain the listed company’s existing operations, and not be treated as a new IPO, but it is a very difficult tightrope to walk,” said a person familiar with the listing committee’s processes, speaking anonymously because he was not authorized to speak to the media on the subject.
The Hong Kong Stock Exchange’s Listing Committee must be satisfied that a company’s business is sustainable before it can list. The miners’ bids were stymied by fears that the falling price of bitcoin made their business models unworkable, sources said.
Although backdoor listings are permitted in most countries, some regulators, including those in Hong Kong, can review the deals and can in some circumstances require a full IPO instead.
“Crypto companies may struggle to demonstrate suitability for listing given the state of regulation of the industry and uncertain business models,” said Jason Sung, a Hong Kong-based partner at law firm Herbert Smith Freehills.
Exchanges like Bithumb that are looking to the United States could also similar roadblocks.
The SEC has authority both over U.S. companies selling digital securities and companies conducting a reverse merger in the United States.
“Depending on what the companies are planning to do they very well might have to seek regulatory approval from the SEC or the CFTC,” said Richard Levin, chairman of the financial technology and regulatory practice at the U.S. law firm Polsinelli.
(Reporting by Alun John in Hong Kong and Anna Irrera in New York; Editing by Jennifer Hughes and Gerry Doyle)
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/cryptocurrency-companies-use-backdoor-listings-to-ease-into-mainstream/
via IFTTT
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Cryptocurrency companies use ‘backdoor’ listings to ease into mainstream

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018. REUTERS/Dado Ruvic/IllustrationFebruary 22, 2019
By Alun John and Anna Irrera
HONG KONG (Reuters) – Several cryptocurrency exchanges have moved closer to mainstream markets by buying listed companies, looking to raise funds and present themselves as embedded in the traditional financial services world they once spurned.
In the most recent deal, U.S. crypto broker-dealer Voyager Digital on Feb. 11 achieved a “backdoor” listing on Toronto’s Venture Exchange after it bought control of mineral exploration firm UC Resources.
Such purchases, also known as reverse mergers, allow companies to offer shares to the public without the rigors and regulatory scrutiny of a full initial public offering (IPO).
“Many (cryptocurrency) exchanges have put a lot of strategic effort into trying to legitimize their operations and their reputations, and for some there’s an assumption that having some exposure to the traditional public market will help,” said Fei Ding’an, managing partner at Ledger Capital, a digital asset investment firm.
Japan’s Financial Services Agency (FSA) is the only major national regulator so far to have drawn up a definitive framework to govern digital assets and the platforms where they are traded.
In January, OKC Holdings, a company controlled by Star Xu, the founder of crypto-exchange OK Coin, bought 60.5 percent of LEAP Holdings,, a Hong Kong-listed construction firm, for HK$484 million ($61.69 million).
Days later, the parent of Korean crypto exchange Bithumb announced plans for a U.S. listing via the purchase of Blockchain Industries.
Last year, investors that included the co-founders of crypto-exchange software producer ANX International bought a controlling stake in Hong Kong-listed marketing firm Branding China, while Huobi, a Singapore based exchange, bought a 72 percent stake in Hong Kong-listed power electrical company Pantronics Holdings.
Voyager said its listed shares could help fund growth.
“Being a public company enables Voyager to operate with the transparency that the crypto market deserves from its institutions,” Voyager CEO Steve Ehrlich said in an email.
Neither Huobi nor OKCoin has given details of their plans for the purchases.
ANX International remains separate from the renamed BC Group, but since the change in ownership the listed unit has launched new businesses that include a digital asset trading and exchange platform.
A spokesman for BC Group said being publicly traded gave clients “additional confidence in knowing we are a credible company and here for the long game.”
Spokespeople for OKCoin and Huobi declined to comment.
Neither Bithumb nor its parent Blockchain Exchange Alliance responded to requests for comment.
LEGITIMACY
Crypto experts said the deals could help the industry gain greater mainstream acceptance.
The reputation of cryptocurrencies, and particularly exchanges, has been hit hard by fears of price volatility and possible uses for laundering money alongside high-profile hacks and infrastructure failures.
Last year, the New York attorney general’s office warned that several cryptocurrency exchanges were plagued by poor market surveillance and pervasive conflicts of interest, saying some may be operating illegally.
This month, $137 million in cryptocurrencies was frozen in the user accounts of Canadian digital platform Quadriga after the founder, the only person with the password to gain access, died unexpectedly.
The crypto market peaked in late 2017, when trading volumes surged and bitcoin, the largest cryptocurrency, reached a high just above $20,000. Bitcoin’s price has fallen more 80 percent since then, and trading volumes have slumped.
Some exchanges may also feel pressure from investors seeking a means of realizing their profits.
“With the market turning south and regulators not being happy, this is an opportunity to satisfy investors and founders who are looking for an exit,” said Zennon Kapron, director at financial technology consultancy Kapronasia.
WRESTLING WITH REGULATORS
Public listings of cryptocurrency exchanges also pose a challenge for regulators, who are only beginning to grapple with the issues of overseeing the trading of digital currencies.
Japan’s FSA became the first major jurisdiction to regulate the exchanges in 2016, but has since refined its rules to allow the industry to largely self-regulate.
In the United States, New York state has, so far, issued a handful of so-called BitLicences for companies doing any sort of virtual currency business.
Both Hong Kong’s market watchdog, the Securities and Futures Commission, and the Hong Kong Exchange declined to comment.
But the commission is considering whether some cryptocurrency trading platforms are suitable for regulation, a process it hopes to finish this year, its chief executive, Ashley Alder, told legislators on Tuesday.
Hong Kong officials have already questioned the sustainability of crypto businesses when last year, the world’s largest makers of cryptocurrency mining rigs did not follow through on IPO plans in Hong Kong, in part because of the questions officials raised.
“It’s possible a crypto exchange could incubate a new crypto business inside a Hong Kong-listed company, maintain the listed company’s existing operations, and not be treated as a new IPO, but it is a very difficult tightrope to walk,” said a person familiar with the listing committee’s processes, speaking anonymously because he was not authorized to speak to the media on the subject.
The Hong Kong Stock Exchange’s Listing Committee must be satisfied that a company’s business is sustainable before it can list. The miners’ bids were stymied by fears that the falling price of bitcoin made their business models unworkable, sources said.
Although backdoor listings are permitted in most countries, some regulators, including those in Hong Kong, can review the deals and can in some circumstances require a full IPO instead.
“Crypto companies may struggle to demonstrate suitability for listing given the state of regulation of the industry and uncertain business models,” said Jason Sung, a Hong Kong-based partner at law firm Herbert Smith Freehills.
Exchanges like Bithumb that are looking to the United States could also similar roadblocks.
The SEC has authority both over U.S. companies selling digital securities and companies conducting a reverse merger in the United States.
“Depending on what the companies are planning to do they very well might have to seek regulatory approval from the SEC or the CFTC,” said Richard Levin, chairman of the financial technology and regulatory practice at the U.S. law firm Polsinelli.
(Reporting by Alun John in Hong Kong and Anna Irrera in New York; Editing by Jennifer Hughes and Gerry Doyle)
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/cryptocurrency-companies-use-backdoor-listings-to-ease-into-mainstream/
via IFTTT
submitted by peterboykin to The_NewDonald [link] [comments]

Cryptocurrency companies use ‘backdoor’ listings to ease into mainstream

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018. REUTERS/Dado Ruvic/IllustrationFebruary 22, 2019
By Alun John and Anna Irrera
HONG KONG (Reuters) – Several cryptocurrency exchanges have moved closer to mainstream markets by buying listed companies, looking to raise funds and present themselves as embedded in the traditional financial services world they once spurned.
In the most recent deal, U.S. crypto broker-dealer Voyager Digital on Feb. 11 achieved a “backdoor” listing on Toronto’s Venture Exchange after it bought control of mineral exploration firm UC Resources.
Such purchases, also known as reverse mergers, allow companies to offer shares to the public without the rigors and regulatory scrutiny of a full initial public offering (IPO).
“Many (cryptocurrency) exchanges have put a lot of strategic effort into trying to legitimize their operations and their reputations, and for some there’s an assumption that having some exposure to the traditional public market will help,” said Fei Ding’an, managing partner at Ledger Capital, a digital asset investment firm.
Japan’s Financial Services Agency (FSA) is the only major national regulator so far to have drawn up a definitive framework to govern digital assets and the platforms where they are traded.
In January, OKC Holdings, a company controlled by Star Xu, the founder of crypto-exchange OK Coin, bought 60.5 percent of LEAP Holdings,, a Hong Kong-listed construction firm, for HK$484 million ($61.69 million).
Days later, the parent of Korean crypto exchange Bithumb announced plans for a U.S. listing via the purchase of Blockchain Industries.
Last year, investors that included the co-founders of crypto-exchange software producer ANX International bought a controlling stake in Hong Kong-listed marketing firm Branding China, while Huobi, a Singapore based exchange, bought a 72 percent stake in Hong Kong-listed power electrical company Pantronics Holdings.
Voyager said its listed shares could help fund growth.
“Being a public company enables Voyager to operate with the transparency that the crypto market deserves from its institutions,” Voyager CEO Steve Ehrlich said in an email.
Neither Huobi nor OKCoin has given details of their plans for the purchases.
ANX International remains separate from the renamed BC Group, but since the change in ownership the listed unit has launched new businesses that include a digital asset trading and exchange platform.
A spokesman for BC Group said being publicly traded gave clients “additional confidence in knowing we are a credible company and here for the long game.”
Spokespeople for OKCoin and Huobi declined to comment.
Neither Bithumb nor its parent Blockchain Exchange Alliance responded to requests for comment.
LEGITIMACY
Crypto experts said the deals could help the industry gain greater mainstream acceptance.
The reputation of cryptocurrencies, and particularly exchanges, has been hit hard by fears of price volatility and possible uses for laundering money alongside high-profile hacks and infrastructure failures.
Last year, the New York attorney general’s office warned that several cryptocurrency exchanges were plagued by poor market surveillance and pervasive conflicts of interest, saying some may be operating illegally.
This month, $137 million in cryptocurrencies was frozen in the user accounts of Canadian digital platform Quadriga after the founder, the only person with the password to gain access, died unexpectedly.
The crypto market peaked in late 2017, when trading volumes surged and bitcoin, the largest cryptocurrency, reached a high just above $20,000. Bitcoin’s price has fallen more 80 percent since then, and trading volumes have slumped.
Some exchanges may also feel pressure from investors seeking a means of realizing their profits.
“With the market turning south and regulators not being happy, this is an opportunity to satisfy investors and founders who are looking for an exit,” said Zennon Kapron, director at financial technology consultancy Kapronasia.
WRESTLING WITH REGULATORS
Public listings of cryptocurrency exchanges also pose a challenge for regulators, who are only beginning to grapple with the issues of overseeing the trading of digital currencies.
Japan’s FSA became the first major jurisdiction to regulate the exchanges in 2016, but has since refined its rules to allow the industry to largely self-regulate.
In the United States, New York state has, so far, issued a handful of so-called BitLicences for companies doing any sort of virtual currency business.
Both Hong Kong’s market watchdog, the Securities and Futures Commission, and the Hong Kong Exchange declined to comment.
But the commission is considering whether some cryptocurrency trading platforms are suitable for regulation, a process it hopes to finish this year, its chief executive, Ashley Alder, told legislators on Tuesday.
Hong Kong officials have already questioned the sustainability of crypto businesses when last year, the world’s largest makers of cryptocurrency mining rigs did not follow through on IPO plans in Hong Kong, in part because of the questions officials raised.
“It’s possible a crypto exchange could incubate a new crypto business inside a Hong Kong-listed company, maintain the listed company’s existing operations, and not be treated as a new IPO, but it is a very difficult tightrope to walk,” said a person familiar with the listing committee’s processes, speaking anonymously because he was not authorized to speak to the media on the subject.
The Hong Kong Stock Exchange’s Listing Committee must be satisfied that a company’s business is sustainable before it can list. The miners’ bids were stymied by fears that the falling price of bitcoin made their business models unworkable, sources said.
Although backdoor listings are permitted in most countries, some regulators, including those in Hong Kong, can review the deals and can in some circumstances require a full IPO instead.
“Crypto companies may struggle to demonstrate suitability for listing given the state of regulation of the industry and uncertain business models,” said Jason Sung, a Hong Kong-based partner at law firm Herbert Smith Freehills.
Exchanges like Bithumb that are looking to the United States could also similar roadblocks.
The SEC has authority both over U.S. companies selling digital securities and companies conducting a reverse merger in the United States.
“Depending on what the companies are planning to do they very well might have to seek regulatory approval from the SEC or the CFTC,” said Richard Levin, chairman of the financial technology and regulatory practice at the U.S. law firm Polsinelli.
(Reporting by Alun John in Hong Kong and Anna Irrera in New York; Editing by Jennifer Hughes and Gerry Doyle)
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/cryptocurrency-companies-use-backdoor-listings-to-ease-into-mainstream/
via IFTTT
submitted by peterboykin to MagaOneRadio [link] [comments]

Cryptocurrency companies use ‘backdoor’ listings to ease into mainstream

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018. REUTERS/Dado Ruvic/IllustrationFebruary 22, 2019
By Alun John and Anna Irrera
HONG KONG (Reuters) – Several cryptocurrency exchanges have moved closer to mainstream markets by buying listed companies, looking to raise funds and present themselves as embedded in the traditional financial services world they once spurned.
In the most recent deal, U.S. crypto broker-dealer Voyager Digital on Feb. 11 achieved a “backdoor” listing on Toronto’s Venture Exchange after it bought control of mineral exploration firm UC Resources.
Such purchases, also known as reverse mergers, allow companies to offer shares to the public without the rigors and regulatory scrutiny of a full initial public offering (IPO).
“Many (cryptocurrency) exchanges have put a lot of strategic effort into trying to legitimize their operations and their reputations, and for some there’s an assumption that having some exposure to the traditional public market will help,” said Fei Ding’an, managing partner at Ledger Capital, a digital asset investment firm.
Japan’s Financial Services Agency (FSA) is the only major national regulator so far to have drawn up a definitive framework to govern digital assets and the platforms where they are traded.
In January, OKC Holdings, a company controlled by Star Xu, the founder of crypto-exchange OK Coin, bought 60.5 percent of LEAP Holdings,, a Hong Kong-listed construction firm, for HK$484 million ($61.69 million).
Days later, the parent of Korean crypto exchange Bithumb announced plans for a U.S. listing via the purchase of Blockchain Industries.
Last year, investors that included the co-founders of crypto-exchange software producer ANX International bought a controlling stake in Hong Kong-listed marketing firm Branding China, while Huobi, a Singapore based exchange, bought a 72 percent stake in Hong Kong-listed power electrical company Pantronics Holdings.
Voyager said its listed shares could help fund growth.
“Being a public company enables Voyager to operate with the transparency that the crypto market deserves from its institutions,” Voyager CEO Steve Ehrlich said in an email.
Neither Huobi nor OKCoin has given details of their plans for the purchases.
ANX International remains separate from the renamed BC Group, but since the change in ownership the listed unit has launched new businesses that include a digital asset trading and exchange platform.
A spokesman for BC Group said being publicly traded gave clients “additional confidence in knowing we are a credible company and here for the long game.”
Spokespeople for OKCoin and Huobi declined to comment.
Neither Bithumb nor its parent Blockchain Exchange Alliance responded to requests for comment.
LEGITIMACY
Crypto experts said the deals could help the industry gain greater mainstream acceptance.
The reputation of cryptocurrencies, and particularly exchanges, has been hit hard by fears of price volatility and possible uses for laundering money alongside high-profile hacks and infrastructure failures.
Last year, the New York attorney general’s office warned that several cryptocurrency exchanges were plagued by poor market surveillance and pervasive conflicts of interest, saying some may be operating illegally.
This month, $137 million in cryptocurrencies was frozen in the user accounts of Canadian digital platform Quadriga after the founder, the only person with the password to gain access, died unexpectedly.
The crypto market peaked in late 2017, when trading volumes surged and bitcoin, the largest cryptocurrency, reached a high just above $20,000. Bitcoin’s price has fallen more 80 percent since then, and trading volumes have slumped.
Some exchanges may also feel pressure from investors seeking a means of realizing their profits.
“With the market turning south and regulators not being happy, this is an opportunity to satisfy investors and founders who are looking for an exit,” said Zennon Kapron, director at financial technology consultancy Kapronasia.
WRESTLING WITH REGULATORS
Public listings of cryptocurrency exchanges also pose a challenge for regulators, who are only beginning to grapple with the issues of overseeing the trading of digital currencies.
Japan’s FSA became the first major jurisdiction to regulate the exchanges in 2016, but has since refined its rules to allow the industry to largely self-regulate.
In the United States, New York state has, so far, issued a handful of so-called BitLicences for companies doing any sort of virtual currency business.
Both Hong Kong’s market watchdog, the Securities and Futures Commission, and the Hong Kong Exchange declined to comment.
But the commission is considering whether some cryptocurrency trading platforms are suitable for regulation, a process it hopes to finish this year, its chief executive, Ashley Alder, told legislators on Tuesday.
Hong Kong officials have already questioned the sustainability of crypto businesses when last year, the world’s largest makers of cryptocurrency mining rigs did not follow through on IPO plans in Hong Kong, in part because of the questions officials raised.
“It’s possible a crypto exchange could incubate a new crypto business inside a Hong Kong-listed company, maintain the listed company’s existing operations, and not be treated as a new IPO, but it is a very difficult tightrope to walk,” said a person familiar with the listing committee’s processes, speaking anonymously because he was not authorized to speak to the media on the subject.
The Hong Kong Stock Exchange’s Listing Committee must be satisfied that a company’s business is sustainable before it can list. The miners’ bids were stymied by fears that the falling price of bitcoin made their business models unworkable, sources said.
Although backdoor listings are permitted in most countries, some regulators, including those in Hong Kong, can review the deals and can in some circumstances require a full IPO instead.
“Crypto companies may struggle to demonstrate suitability for listing given the state of regulation of the industry and uncertain business models,” said Jason Sung, a Hong Kong-based partner at law firm Herbert Smith Freehills.
Exchanges like Bithumb that are looking to the United States could also similar roadblocks.
The SEC has authority both over U.S. companies selling digital securities and companies conducting a reverse merger in the United States.
“Depending on what the companies are planning to do they very well might have to seek regulatory approval from the SEC or the CFTC,” said Richard Levin, chairman of the financial technology and regulatory practice at the U.S. law firm Polsinelli.
(Reporting by Alun John in Hong Kong and Anna Irrera in New York; Editing by Jennifer Hughes and Gerry Doyle)
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/cryptocurrency-companies-use-backdoor-listings-to-ease-into-mainstream/
via IFTTT
submitted by peterboykin to The_NewDonald [link] [comments]

Cryptocurrency companies use ‘backdoor’ listings to ease into mainstream

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018. REUTERS/Dado Ruvic/IllustrationFebruary 22, 2019
By Alun John and Anna Irrera
HONG KONG (Reuters) – Several cryptocurrency exchanges have moved closer to mainstream markets by buying listed companies, looking to raise funds and present themselves as embedded in the traditional financial services world they once spurned.
In the most recent deal, U.S. crypto broker-dealer Voyager Digital on Feb. 11 achieved a “backdoor” listing on Toronto’s Venture Exchange after it bought control of mineral exploration firm UC Resources.
Such purchases, also known as reverse mergers, allow companies to offer shares to the public without the rigors and regulatory scrutiny of a full initial public offering (IPO).
“Many (cryptocurrency) exchanges have put a lot of strategic effort into trying to legitimize their operations and their reputations, and for some there’s an assumption that having some exposure to the traditional public market will help,” said Fei Ding’an, managing partner at Ledger Capital, a digital asset investment firm.
Japan’s Financial Services Agency (FSA) is the only major national regulator so far to have drawn up a definitive framework to govern digital assets and the platforms where they are traded.
In January, OKC Holdings, a company controlled by Star Xu, the founder of crypto-exchange OK Coin, bought 60.5 percent of LEAP Holdings,, a Hong Kong-listed construction firm, for HK$484 million ($61.69 million).
Days later, the parent of Korean crypto exchange Bithumb announced plans for a U.S. listing via the purchase of Blockchain Industries.
Last year, investors that included the co-founders of crypto-exchange software producer ANX International bought a controlling stake in Hong Kong-listed marketing firm Branding China, while Huobi, a Singapore based exchange, bought a 72 percent stake in Hong Kong-listed power electrical company Pantronics Holdings.
Voyager said its listed shares could help fund growth.
“Being a public company enables Voyager to operate with the transparency that the crypto market deserves from its institutions,” Voyager CEO Steve Ehrlich said in an email.
Neither Huobi nor OKCoin has given details of their plans for the purchases.
ANX International remains separate from the renamed BC Group, but since the change in ownership the listed unit has launched new businesses that include a digital asset trading and exchange platform.
A spokesman for BC Group said being publicly traded gave clients “additional confidence in knowing we are a credible company and here for the long game.”
Spokespeople for OKCoin and Huobi declined to comment.
Neither Bithumb nor its parent Blockchain Exchange Alliance responded to requests for comment.
LEGITIMACY
Crypto experts said the deals could help the industry gain greater mainstream acceptance.
The reputation of cryptocurrencies, and particularly exchanges, has been hit hard by fears of price volatility and possible uses for laundering money alongside high-profile hacks and infrastructure failures.
Last year, the New York attorney general’s office warned that several cryptocurrency exchanges were plagued by poor market surveillance and pervasive conflicts of interest, saying some may be operating illegally.
This month, $137 million in cryptocurrencies was frozen in the user accounts of Canadian digital platform Quadriga after the founder, the only person with the password to gain access, died unexpectedly.
The crypto market peaked in late 2017, when trading volumes surged and bitcoin, the largest cryptocurrency, reached a high just above $20,000. Bitcoin’s price has fallen more 80 percent since then, and trading volumes have slumped.
Some exchanges may also feel pressure from investors seeking a means of realizing their profits.
“With the market turning south and regulators not being happy, this is an opportunity to satisfy investors and founders who are looking for an exit,” said Zennon Kapron, director at financial technology consultancy Kapronasia.
WRESTLING WITH REGULATORS
Public listings of cryptocurrency exchanges also pose a challenge for regulators, who are only beginning to grapple with the issues of overseeing the trading of digital currencies.
Japan’s FSA became the first major jurisdiction to regulate the exchanges in 2016, but has since refined its rules to allow the industry to largely self-regulate.
In the United States, New York state has, so far, issued a handful of so-called BitLicences for companies doing any sort of virtual currency business.
Both Hong Kong’s market watchdog, the Securities and Futures Commission, and the Hong Kong Exchange declined to comment.
But the commission is considering whether some cryptocurrency trading platforms are suitable for regulation, a process it hopes to finish this year, its chief executive, Ashley Alder, told legislators on Tuesday.
Hong Kong officials have already questioned the sustainability of crypto businesses when last year, the world’s largest makers of cryptocurrency mining rigs did not follow through on IPO plans in Hong Kong, in part because of the questions officials raised.
“It’s possible a crypto exchange could incubate a new crypto business inside a Hong Kong-listed company, maintain the listed company’s existing operations, and not be treated as a new IPO, but it is a very difficult tightrope to walk,” said a person familiar with the listing committee’s processes, speaking anonymously because he was not authorized to speak to the media on the subject.
The Hong Kong Stock Exchange’s Listing Committee must be satisfied that a company’s business is sustainable before it can list. The miners’ bids were stymied by fears that the falling price of bitcoin made their business models unworkable, sources said.
Although backdoor listings are permitted in most countries, some regulators, including those in Hong Kong, can review the deals and can in some circumstances require a full IPO instead.
“Crypto companies may struggle to demonstrate suitability for listing given the state of regulation of the industry and uncertain business models,” said Jason Sung, a Hong Kong-based partner at law firm Herbert Smith Freehills.
Exchanges like Bithumb that are looking to the United States could also similar roadblocks.
The SEC has authority both over U.S. companies selling digital securities and companies conducting a reverse merger in the United States.
“Depending on what the companies are planning to do they very well might have to seek regulatory approval from the SEC or the CFTC,” said Richard Levin, chairman of the financial technology and regulatory practice at the U.S. law firm Polsinelli.
(Reporting by Alun John in Hong Kong and Anna Irrera in New York; Editing by Jennifer Hughes and Gerry Doyle)
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/cryptocurrency-companies-use-backdoor-listings-to-ease-into-mainstream/
via IFTTT
submitted by peterboykin to MagaFirstNews [link] [comments]

Migrate your Mt. Gox app to ANX's compatible API with only ONE line of code

submitted by AsiaNexgen to BitcoinMarkets [link] [comments]

For those looking for a bitcoin debit card that can be used globally and not just in Australia...

I don't want this post to sound like an ad, but Hong Kong-based ANX is one of the lesser-known exchanges and I think most people simply aren't aware that their debit card product even exists.
I've been using the international debit card from ANX for the last couple weeks, and it has helped me transition to paying for almost EVERYTHING in bitcoin (in a roundabout way, I suppose).
It has a much higher limit than typical pre-paid debit cards. Other cards I've used in the past would have a $3,300 annual limit and could not be topped up once that limit was reached. The card can hold a balance of $50,000 (usd) and is limited to $1000 ATM withdrawal per day. Also the $50,000 limit is not annual, it can have that much at one time and can be recharged up to that point an unlimited amount of times.
The card is free to use for POS/online purchases, but unfortunately charges 1% for ATM withdrawals. I think the exchange rate they give you when recharging is also slightly less favorable than spot price (even though they claim no top-up fee). Alas, they have to make money on this product somehow, and those fees do not seem too ridiculous.
The initial cost to get the card is somewhat steep (mine was 0.37 BTC, including shipping), but it has more than made up for that in proving itself useful to me. So far I've successfully used it at ATMs, brick and mortar POS, and for purchasing online goods.
Here's a link to compare the different kinds of cards they offer: https://anxbtc.com/pages/#/card-compare
Note: I am not employed by ANX, just a very happy customer! I've been using their platform for trading for more than a year without issue.
submitted by BeijingBitcoins to Bitcoin [link] [comments]

How Does the Freefalling Crypto Price Impact openANX?

I have been watching the current crop of stories in the media espousing “The Death of Bitcoin” or the rehash of old classics like “Bitcoin is a Ponzi scheme” from 4 years ago (Google “Bitcoin is a ponzi scheme” and see that the Washington Post, FT and a host of others have all taken this tried and true path in the last couple of years) with similar predictions of doom and gloom that the current volatility has stimulated.
It reminds me the current crypto “Talking Head” community. A bunch of people sitting around saying “Oh it’s bad”, “There’s a lot of money on the table” or my favourite “I’m making a killing” or the more honest “How do I not lose my shirt?” a lot of bloggers and journalists who are beholden to the great machine of the 24 hour news cycle, as well as people who just like shouting into the great darkness of the internet, all have column inches to fill.
People who’ve been in the market a while are more sanguine. Crypto is volatile, and the independent nature of many traders mean that a lot of people don’t entirely know what they are doing and begin getting skittish and heading for the exit as soon as “word passed around”. In fact that one sentence “word passed around” explains the mechanism of distribution for 90% of crypto market intelligence. Many voices are saying “But ETH was $359 two weeks ago and now it’s $161, I have to get out!” Two of those things are true. What is also true is that on Feb 25 2017, the price was $13.10. So, it is certainly down from its exuberant highs, but if you got in in Feb your still up 13x…in 5 months.
It’s an immature market, and the volatility attracts the types of players with a particular type of risk profile, certainly. If you got in at $359, then you are likely feeling the pain. Hopefully you got in responsibly and you can afford to sit on your coins for a while. There’s a lot going on in the market at the moment, with all that’s going on in Bitcoin around August 1st, a lot of Token Sales who’ve liquidated some of their ETH to begin working on their projects and some helpful and many unhelpful articles about possible regulation and other shenanigans all have an impact. There are some reasoned voices out there amidst the madness, but they are lonely. I liked this piece by Steve Kanaval over at CryptocoinsNews, who’s been in the game a while and survived the dotcom bubble and knows a thing or two;
https://www.cryptocoinsnews.com/ethereum-prices-trade-to-support-levels-as-they-climb-the-wall-of-worry/
Most pundits prefer to comment at the extreme ends of the spectrum. Either “The Sky is Falling!” or the excellent “The uncertainty is being exacerbated by big players so they can capture more market share”.
Most of us over here at openANX are in the middle of the spectrum. We understand volatility right now is not ideal, but we’ve seen this happen before. We are just continuing doing what we are supposed to be doing, working on the project, getting stuff done. Things will settle down, and it’s best we focus on delivering the best possible platform for our users. So, the answer to the question raised in the title of this post, is “not much.”
Good luck out there! And remember to register before the 29th July to activate your tokens! It seems that a fair number of people are waiting until the last minute, so we are now advising for people to ensure they get their details inputted to the system by July 25th to ensure they are ready to go! Go to https://registration.openanx.org/
submitted by shadowlpb to OpenANX [link] [comments]

Sitting on the cusp of a major tipping. Which way it tips is anybody's guess..

It's been an exciting week for bitcoin with the announcement from Coinbase to opening the first US regulated exchange - the jury on that one is nothing short of divided amongst this community - more talk from Winklevoss Bros. about their latest enterprise "But that was our idea." (Same old story). More BTMs announced in various countries, ANX move for a state side venture. In other currency news the Euro zone is in turmoil with a push for a 50 Trillion euro QE. 50 TRILLION!!! And a new anti-austerity government in Greece which will have interesting knock on effects both sides of our little volatile market place.
All in all, this has resulted in a calm in the market place. Hitting a long term low of c.$177 last week after a very dramatic couple of weeks, nah, months. That low must have been a shock to the system, it's as if everybody stood back and took a breather. I know I did, after more than one spur of the moment (panic) decision.
Thankfully BTC made a quick climb back up through to the right side of 200 and then a steady incline to the $250 mark. A lot of relief from this trader. And in fact topped out for the week at $275 before (near on) plateauing for the longest period at $260 which is where it remains. But what next.
Many analysts are refusing to make a call, this is most definitely a calm before an unprecedented storm. But unprecedented in what sense. Three things can happen here, 1) Most unlikely, we settle into a long term exchange rate, this would do wonders for bitcoin, public, business and government acceptance would sore, the less volatile we are the more trust we would generate. And large scale acceptance is our biggest goal, right!!. 2) There has been a trend change, we know that - in the business of 'Pattern Spotting' - we are on the brink of something big. If from the $250 / $260 mark we continue to climb then we could indeed be in for a comfortable, enjoyable spring and summer period. We could even see higher than historical high prospects. BUT BEWARE. 3) if we drop again below the dreaded $200 and worse still the $177 mark then honker down for a long long winter, expect the price to nose dive further. There's even been talk, if we slump again, of double and even single figures.
Strap in people, madness of one sort or another awaits on the side lines. The world is watching and, I for one am glued to even the smallest changes.
EDIT: it's not 50 trillion, it's 1.14 trillion (1140 billion or 1.14 * 1012) Euros of QE. They are buying 60 billion monthly for 19 months, 60*19 = 1140. Thanks to ansc01.
submitted by EMiBias to Bitcoin [link] [comments]

Things you should look for in a cryptocurrency exchange

“Let’s say you want to buy 1 Bitcoin, sign up on an exchange and wait for 3 days. A few days later you receive an e-mail saying ‘Our servers compromised… all funds stolen. We are sorry’. Now where to go? ,"
Recent volatility in cryptocurrency space has created a new customer base looking for profit and quick money, these customers are new investors or rookies can take part due to the open nature of cryptocurrency. It is important to choose with which exchange you are buying and selling cryptocurrency.
Many major exchanges have faced various potential threats in the past such as hacking, regulatory issues, bad business practices due to messy combination of poor management, neglect, and raw inexperience.
Attacks
Number of exchanges attacked and many million of dollars stolen, MtGox was the first one where a group of hackers compromised the servers due to the central nature of the service provider. It is easy to gain access and take control of private keys which controls your bitcoin, so you should always keep your private keys in your control. There are multiple ways to do that, such as hardware wallets, or keeping it in your laptop, mobile phone, etc.
Liquidity
Another problem with many exchanges are lack of liquidity, which means when one wants to withdraw a big chunk of bitcoin, for example,1000 BTC at current price is about $17 Million, exchanges don’t have that much cash available and ready to move, and therefore the entire BTC market can fluctuate in seconds.
Accessibility
There is no such thing as an instant in these exchanges as you have to first verify (KYC and AML) your account which can take 10 minutes to 3 days depending on your region. Only after such long waiting you can transfer real cash from your bank account, but that is also unlikely, because many local banks are not supporting these kinds of exchanges. The solution to this problem is to buy using an escrow mechanism and get crypto in the same region where one pays using local currency in the same region, such service provider being known as LocalBitcoins.
Support
Another approach to the above mentioned problem is to reduce the cost of switch for traders, so the users can convert token to token without leaving the wallet. It is only in decentralized exchanges which lacks support for a commodity, ease of use and overall lacks user support.
Due to financial transaction exchanges were always under scrutiny, Bittrex came under radar for an incident in which a handful of user documents merged into one support ticket and released in a public forum.
Once again, there is no support when you do not understand something of the website of the exchange or you need to know certain things about the fees. So, you will have to create the support ticket yourself and wait for the answer an hour depending on the volume of tickets. The support system of exchanges is dingy and the company like ‘Coinbase’ does not even have a live chat or a phone number where one can call and get help.
Manipulation
Cryptocurrencies are speculative and bound to manipulation - there have been many incidents on these central exchanges where “Spoofing” is seen. With ‘spoofing’, one puts large buy or sell orders driving traders in one direction and then cancels the order before execution. This implies that anyone who can gain access to trading with large amount of BTC can drive prices to go crazy.
As a precaution many exchanges are locking down a number of accounts if any suspicious activity seen, resulting in distress within the community and customers. Similar incidents reported by community, where whenever ‘Tether’ currency denomination released on Blockchain, there was a sudden surge in the value of the Bitcoin. ‘Tether’ is a cryptocurrency which backed by $1 and it is one of the subsidiary of ‘Bitfinex’. ‘Bitfinex’ banking relationship jeopardized due to a DDOS hack. This gives rise to the question: is Tether a cryptocurrency or just a scam. Newcomers to Blockchain may notice the irony — in an industry obsessed with decentralization, some of the biggest exchanges are centralized, trusted institutions.
Future
“Decentralized exchanges are the way of the future,” said Hugh Madden, technical director for ‘openANX’, a decentralized exchange infrastructure protocol. With the new model in decentralised exchanges you have no order book — buy and sell orders are matched peer-to-peer. There is no central authority where hackers can attack and drain money.
Exchanges have to address these problems in future:
  1. Accessible - faster KYC process , international banking support and integration.
  2. End-to-End Security – Exchanges need to scale , better security for customers to their own data centers.
  3. Cold Storage – Storing all bitcoins, cryptocurrency in cold storage reduces the risk of hacking coins.
  4. Technology Architecture – Right now the exchange architecture is straightforward and the insecure REST API exposed to the world. Using service such as Apache Kafka can reduce I/O throughput.
  5. Banking – The banks do not understand cryptocurrency, if the exchanges want to stay, they have to work together with the bank to provide full transparency within the system .
  6. Liquidity – Right now every exchange lacks liquidity,one of the solution to this problem could be the introducing of new services - for example, the user can spend coins from the exchange for some service or asset.
  7. Easy – It is easy to use.
These protocols are still in development phase, but as we continue to see the threats on centralised exchanges, it is imminent that decentralised exchanges will take over. The answer lies in technology development and complete use of tokens.
In conclusion, as a crypto user one has to be very careful what exchanges they are dealing with and make sure the exchange has a valid banking setup or relationship, verification process and resolution mechanism and meets all the terms and conditions; make sure also, that in case of hack or solvency, you will get your money back or at least a part of it .
Do your own research before engaging in the cryptocurrency space.
submitted by tradxwrite to CryptoCurrencies [link] [comments]

Happy Halloween Release - Modern Culture Medical Cannabis [Escrow][.onion][.i2p]

-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1
We are proud to announce we are releasing our service for the community at 6:00 UTC today, October 31st. Our store is up and running, and we have been open for over a month, although with all products set to invisible as we developed our site. Now, we have both .onion and .i2p domains, as well as a clearnet (.com) link site that makes it easy to locate us if you ever forget our .onion address (or less likely our .i2p address).

Modern Culture Cannabis Store

You can locate our store at one of the following locations, depending on what you use:

Escrow!

We use escrow service through BTCrow.com. We are also looking to utilize the P2P Escrow that is being developed by Budster, however that is not going to be released until 2014. However we have found no issues in the past with using BTCrow.com as a escrow service.

Monthly Specials

We have both Indica and Sativa strains, as well as our Gold Strains (strains with unusually high THC/CBD or some type of associated award), as well as offering month long specials each and every month. Today is Halloween Special, however tomorrow it rolls over to Thanksgiving Special. Please check our our specials section if you are interested in our monthly specials. We always post the current months special in addition to the next two months specials (in this case Thanksgiving/November & Christmas/December). You can find them here:

Additional Offers/Services

While we only offer cannabis products, we don't just offer cannabis to smoke. We realize that some that live in criminalized states use this as legitimate medication, and some do not wish to consume cannabis through inhalation.
We offer everything from concentrates, edibles, tinsure, hash, and even some product-similar options such as medicated Reese's and Medicated Tootsie Rolls (also known as Cheeba Chews). All concentrates are CO2 Extracts, as butane extraction can leave some unhealthy residue left.

Security / Anonymity

As with all .onion/.i2p hidden services that offers products like ours, security and anonymity is key to providing safe services alongside reliability and efficiency.
The order form encrypts the information prior to submitting it to server side storage (encryption from the form is through the PGP key you provide, however the entire server is AES256 encrypted) to prevent any data leaks to reveal personal information. We also never store user information other than your email and tracking number (email is retained, tracking and all personal information is destroyed at the time of shipping or upon delivery in the case of tracking).
We use both .i2p and .onion domains so both types of anonymous web browsers can access it. We should note that our clearnet site (modernculturemeds.webs.com) does not host any personal information or data, it just has links both of our sites as well as simple instructions on how to use TOR and/or I2P.

Current Cannabis Strains & Pricing

All products are offered through Escrow with Bitcoins. If you wish to use other types of cryptocurrency such as litecoins then you are free to do so, however we only have escrow service through Bitcoins.
We currently offer three types of cannabis: Sativa, Indica, & Gold
Gold Strains Do Not Actually Contain The Gold Element
Indica
  • Afghooey
  • Blueberry Kush
  • Candy Jack
  • Grape Ape
  • Jack The Ripper
  • Mango
Sativa
  • Alaskan Thunder Fuck
  • Black Diesel
  • Cheese
  • Durban Posion
  • Green Crack
  • Lemon Haze
Gold☩
  • Girl Scout Cookies
  • Maui Waui
  • Green Goblin
  • Romulan
  • Zombie OG Kush
Pricing
With the exception of certain strains/selections being priced lower for the monthly specials, we keep a standard price for all strain types (Indica & Sativa are priced the same, Gold is priced slightly higher).
Standard Strains (Indica/Sativa) One Ounce - $275.00 Quarter Pound - $950.00 Half Pound - $1,800.00
Gold Strains Such as Girl Scout Cookies & Zombie OG Kush, both of which have >23% THC Content Half Ounce - $160.00 One Ounce - $300.00 Quarter Pound - $1,100.00

Our Monthly Specials

Currently we are on the last day of our Halloween Special, but here is the offer that is still valid for the rest of today.
Halloween Smokefest October 1st To October 31st Coupon Code: SPOOKY420
  • Ounces - 5% Off - Only $285.00!
  • Quarter Pounds - 10% Off - Only $1035.00!
  • Half Pounds - 15% Off - Only $1870.00!
  • Zombie OG Kush & Green Goblin (Gold Strains) - Only $285 Now Through Halloween
  • Candy Jack - $275.00 Per Ounce (6.2% Off!)
Thanksgiving Dinner Novermber 1st To November 31st Coupon Code: GOBBLEGOBBLE
All Edibles - 10% Off Limited Time Products - THC Infused Food Preparation Material (Butter, Seasoning, Stuffing, ect.) 5% Off First Time One Ounce Orders Candy Jack - $240.00 Per Ounce!
Christmas Miracle December 1st To December 26th Coupon Code: SLEIGHBELLS
Quarter Pounds - 5.2% Off - Only $900.00! Half Pounds - 12.2% Off - Only $1600.00! Girl Scout Cookies (Gold Strain) - Only $275 Now Through Christmas Day All Gold Strains - $250.00 Per Ounce - Only On Christmas Eve

Contacting Us

We have several means of communication for those that do not wish to use our built in order form, or those that simp,y have questions. Of course, you can always message us on reddit and we'll answer - you can click our name or fin us at modern_culture
Here are a few secure/anonymous email services we also use:
We suggest that you use PGP - you can find our public PGP key below.
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submitted by modern_culture to SilkRoad [link] [comments]

openANX FAQ

FAQ
openANX, OAX and the Open ANX Foundation – What is the difference?
openANX is the name of the platform and project. It provides advantages such as aggregated order books, transparent collateral and credit risk markets. It is the real-world application of decentralized exchanges. OAX is the name for the ERC20 tokens that are used (e.g. to acquire memberships) on the openANX platform Open ANX Foundation is the name of the non-profit incorporated in Hong Kong
What is a centralized exchange and what advantages/disadvantages does it have?
Most existing traditional exchanges today are centralized exchanges, meaning there is a single entity that controls the exchange. Centralized exchanges have some advantages such as providing critical services, liquidity and banking relationships. However, there are major disadvantages such as a lack of financial and operational transparency, and security concerns as demonstrated by hacked exchanges that resulted in the loss of hundreds of millions of dollars as well as trust and confidence from users and the general public. Trading on centralized exchanges also defeats the purpose of having decentralized currencies (Bitcoin, alternative cryptocurrencies). The term exchange is somewhat misleading in the traditional sense – i.e. on stock exchanges or online marketplace platforms, at the end of a transaction there is the delivery of the purchased goods as well as the transfer of payments. On a crypto centralized “exchange” there is no payment or coin changing hands amongst buyers and sellers (and hence why the transaction is not recorded on the blockchain); rather the transaction is reflected only on the internal accounting records of the exchange and a selling customer that previously was owed coins by the exchange is now owed fiat currency instead. As he still does not hold physical possession, his account is essentially an IOU issued by the exchange to the seller.
What are decentralized exchanges (DEX)?
Decentralized exchanges are the proposed solution to the problems faced by centralized exchanges and their users. While current decentralized exchanges are a step in the right direction, they often suffer problems such as low volume and liquidity due to the lack of integration of the strengths and key functions of centralized exchanges. DEX do not have integrated banking relationships nor integrated onramp/offramp payment channels, thus fiat trading is not possible on the platform, and it only allows trading of crypto pairs which severely limits trading activity. They are much less practical for users unless they already have crypto assets and are not seeking to monetize into fiat.
How does openANX differ from other decentralized exchanges (DEX)?
Firstly, and most importantly, openANX is complementary to decentralized exchanges. Many Ethereum initiatives such as 0x, RAIDEN, SWAP, will support trustless trading of Ethereum tokens. However, they don’t solve the problem of onboarding and offboarding real world funds. openANX provides an asset gateway mechanism to practically onboard and offboard real world currencies whilst affording consumer greater transparency and increased protection with collateral and a dispute resolution process. The fiat currencies safely tokenized by compatible asset gateways are essentially IOU representative tokens that can then be traded on other Ethereum decentralized exchanges.
Benefits of openANX
High Liquidity Many existing DEX suffer from low trade volumes which leads to low liquidity, owing to their “one trade per settlement” model: traders execute one trade and then must wait for the real-world currency settlement before being able to trade again, during which the traders are exposed to counterparty credit and settlement risks. With the provision of a safe tokenization process on openANX, traders will be able to onboard funds and trade multiple times before offboarding; this is crucial for the market makers and arbitrage traders that provide critical levels of liquidity Additionally, existing centralized and decentralized exchanges operate using fragmented liquidity pools. openANX aggregates the liquidity from each of its asset gateway participants to provide a sufficient level of liquidity. This also lowers the barrier to entry for new asset gateways as they will have access to the overall openANX liquidity pool. Finally, existing DEX fail to adequately provide transparency on the explicit counter party credit risk associated with asset gateways. openANX allows asset gateways tokens to be traded against each other’s, providing a market for credit risk, which results in numerous advantages such as opportunity for hedging credit risk and allowing the explicit pricing of credit risk be to expressed by the market (price discovery). Transparency The cryptocurrency community is wary of government regulations (despite the accompanying safety net), yet would still like to have a transparent guarantee of their assets. Existing centralized and decentralized exchanges do not address this need due to their lack of financial or operational transparency. The openANX platform will be open source and governed by a DAO/non-profit “Open ANX Foundation”, and it will function as the ‘decentralized exchange between exchanges’. This being open source and valuing transparency allows the openANX project to stay true to the movement of decentralization.
Credit risk On the openANX platform, asset gateways fulfil the role of holding customer funds under custody and issuing IOU representative tokens on the blockchain. The gateways should still hold the customer funds in an appropriate, segregated account, however the gateway can also post locked up collateral on the openANX DAO. This collateral is time locked and made available for dispute resolution. In this fashion, customers have addition, transparent data available to determine the creditworthiness of the gateway (as a function of real world factors and collateral value, and amount of tokenized assets). Asset gateway tokens can then be traded against each other, with a premium or discount, representing perceived credit risk; this creates a market and price discovery mechanism for credit risk Risk assessment is impossible without access to various data about the asset gateway. The exchange models available currently do not provide this information, therefore traders and users cannot price risk. On the openANX platform, the replacement of exchange IOUs with fiat tokens and the availability of information to evaluate risk (collateral, market value of token, credit risk factors etc.) enables traders to start factoring in risk in their trades.
What is an asset gateway?
An asset gateway takes off-chain assets from customers, and mints an on-chain ERC20 token equivalent. Amongst other requirements, an asset gateway should: - Post some amount of locked collateral into the openANX DAO, - Incorporate acceptance of the openANX dispute resolution process into its customer terms and conditions, and - Pre-declare its KYC and AML policy and nominate the KYC/AML contract that is used to enforce its regulatory obligations on the blockchain
What is the DAO and how does it interact with the openANX platform?
DAO stands for “Decentralized Autonomous Organization”, it functions using smart contracts on Ethereum. openANX abides by the DAO, which is governed by the voters on the platform. This is one of the many strengths of the openANX platform – the governance is decentralized and can mould the way the platform behaves and develops.
What is an aggregated order book?
Current centralized exchanges have isolated order books that don’t communicate with each other. This creates a problem in that the barrier for entry is high, and it leads to only a few exchanges maintaining and attracting sufficient liquidity. Using the “Liquidity Aggregation” technology provided by ANX, the openANX platform can aggregate all the order books so the end user can interact with a single, seamless order book that has the combined volume and liquidity from all asset gateways.
What is the distinction between the non-profit Open ANX Foundation and ANX International?
The Open ANX Foundation and ANX International are separate entities. ANX will contribute proprietary IP to kick-start the openANX platform. Maintenance and funding for the openANX platform will be performed by the non-profit Open ANX Foundation. Post-launch, ANX will merely be an asset gateway and supplier on the openANX platform. Other suppliers can be selected by the DAO governance board.
What is the credit risk market?
Tokenized representations of fiat currencies are provided to asset gateway users, replacing traditional IOUs from centralized exchanges. Since participants can make quantitative risk assessment from the data provided by the transparent nature of the openANX platform, the value of the fiat currency token provided by different asset gateways can change. Since participants have ownership of these tokens, they can be traded against each other and therefore long risk positions can be closed. This creates a new market dynamic – the credit risk market.
submitted by shadowlpb to OpenANX [link] [comments]

ICO Update – Jul 1 2017

ICO Update – Jul 1 2017 Here is the progress of the Initial Coin Offerings that we are following. Please go to https://urbancrypto.com/ongoing-icos/ for a full list of Ongoing ICOs.
DCORP ICO Update – Jul 1 2017
The DCorp ICO ended with a pretty decent result. The ICO raisedover5 million dollars altogether, passing its minimum of 1.3 million to achieve its needs for its derivatives exchange seed project. With its’s corporate structure and participation of token holders in the governance of the company, it is still avery interesting project and one to watch in the future.
The DCorp ICO is almost at an end, if you haven’t looked into DCorp, you still can. To read more on DCORP: https://urbancrypto.com/dcorp-drp-derivatives-exchange-profile/
Sphre (Air) XID Token ICO Update – Jul 1 2017 The Shpre – Air ICO has closed and the company has raised just over 50% of its hard cap. The final numbers are:
2059.69777838 BTC 1,090 Participants 1,405 Transactions
To read more about Sphre click https://urbancrypto.com/sphre-token-xid-the-air-platform/
Giga Watt ICO Update – Jul 1 2017
The Giga Watt ICO moves along ith slow contributions coming in. They have issued 12,553,344 tokens and the current rate is $1.05 per token. So, they have raised over 11 million dollars which in itself is a huge accomplishment. The ICO period is one of the longer ones we have seen and we will see how far they go with 30 days left for this Blockchain-based Mining Solution
To read more on Giga Watt click https://urbancrypto.com/giga-watt-wtt-profile/ To follow the crowdsale click: https://cryptonomos.com/wtt/
FUND YOURSELF NOW ICO Update – Jul 1 2017
Fund-Yourself-Now, a blockchain based crowdfunding platform launched its ICO on June 17th with a period of 46 days. Their hard-cap is 7.5 million FYN tokens or about 65,000 ETH which at current market prices is approximately 22 million dollars. FYN already has a pipeline of upcoming ICOs to be launched on their platform and we will be detailing them shortly.
Here is the progress so far: ETH Balance: 4,478.079166217484335852 Ether ETH USD Value: $1,202,140.35 (@ $268.45/ETH) No Of Transactions: 808 txns To read more about the Fund Yourself Project Now click here. https://urbancrypto.com/fund-yourself-now-crowdfunding-platform-profile/
Corion ICO Update – Juy 1 2017
Corion’s goal is to be a multifunctional Platform for businesses and individuals to join and build a worldwide decentralized network, based on mutual benefits, simplicity, security, cost-effectiveness, speed and a stable means of payment. Corion launched its ICO on June 18th, 2017. There was no minimum or maximum cap set. The sale has not generated a lot of contributions in the past 24 hours. The Crowdsale has raised $1.3 million dollars so far.
To read more about Corion, click here: https://urbancrypto.com/corion-platform-stabilized-cryptocurrency/ To follow the Corion ICO click here: https://www.corion.io/
Polybius Bank ICO Update – Jul 1 2017
Polybius Bank states that they will combine features of modern banking, IoT, Big Data and Blockchain-based technologies while also meeting security and UX requirements.
They opened their crowdsale on May 31, 2017. The terms are that each PLBT token will cost $10 and the maximum number of tokens to be sold is 20,000,000. That leaves the possibility of them raising up to $200 million dollars. They have already raised around $25,000,000 dollars as per their website.
The ICO will come to an end in a day, to read an update from our friends at BitcoinChaser click here: http://bitcoinchaser.com/ico-hub/polybius-ico-update To follow the Polybius ICO click here: https://polybius.io/
Upcoming Initial Coin Offerings
We have updated our list of upcoming ICOs and it is extensive. We have added links to the companies websites and whitepapers where available. For a completely comprehensive list click here: https://urbancrypto.com/upcoming-icos/
We anticipate uploading Profiles on the following upcoming ICOs in the next few days: Populous – Invoice and Trade Finance Hive Project – Currency Invoice Financing Platform OpenAnx – Decentralized Exchange PrimalBase – Distributed Workspace for Tech Community MyBit – Decentralized Asset Management OmiseGo – eWallet Platform
If there is an ICO that you would like to see a Profile that we have not listed, please let us know and we will do our best to provide it ASAP.
ICO Update – Jul 1 2017
submitted by urbancrypto to CryptoMarkets [link] [comments]

openANX FAQ

openANX, OAX and the Open ANX Foundation — What is the difference? openANX is the name of the platform and project. It provides advantages such as aggregated order books, transparent collateral and credit risk markets. It is the real-world application of decentralized exchanges. OAX is the name for the ERC20 tokens that are used (e.g. to acquire memberships) on the openANX platform Open ANX Foundation is the name of the non-profit incorporated in Hong Kong What is a centralized exchange and what advantages/disadvantages does it have? Most existing traditional exchanges today are centralized exchanges, meaning there is a single entity that controls the exchange. Centralized exchanges have some advantages such as providing critical services, liquidity and banking relationships. However, there are major disadvantages such as a lack of financial and operational transparency, and security concerns as demonstrated by hacked exchanges that resulted in the loss of hundreds of millions of dollars as well as trust and confidence from users and the general public. Trading on centralized exchanges also defeats the purpose of having decentralized currencies (Bitcoin, alternative cryptocurrencies). The term exchange is somewhat misleading in the traditional sense — i.e. on stock exchanges or online marketplace platforms, at the end of a transaction there is the delivery of the purchased goods as well as the transfer of payments. On a crypto centralized “exchange” there is no payment or coin changing hands amongst buyers and sellers (and hence why the transaction is not recorded on the blockchain); rather the transaction is reflected only on the internal accounting records of the exchange and a selling customer that previously was owed coins by the exchange is now owed fiat currency instead. As he still does not hold physical possession, his account is essentially an IOU issued by the exchange to the seller. What are decentralized exchanges (DEX)? Decentralized exchanges are the proposed solution to the problems faced by centralized exchanges and their users. While current decentralized exchanges are a step in the right direction, they often suffer problems such as low volume and liquidity due to the lack of integration of the strengths and key functions of centralized exchanges. DEX do not have integrated banking relationships nor integrated onramp/offramp payment channels, thus fiat trading is not possible on the platform, and it only allows trading of crypto pairs which severely limits trading activity. They are much less practical for users unless they already have crypto assets and are not seeking to monetize into fiat. How does openANX differ from other decentralized exchanges (DEX)? Firstly, and most importantly, openANX is complementary to decentralized exchanges. Many Ethereum initiatives such as 0x, RAIDEN, SWAP, will support trustless trading of Ethereum tokens. However, they don’t solve the problem of onboarding and offboarding real world funds. openANX provides an asset gateway mechanism to practically onboard and offboard real world currencies whilst affording consumer greater transparency and increased protection with collateral and a dispute resolution process. The fiat currencies safely tokenized by compatible asset gateways are essentially IOU representative tokens that can then be traded on other Ethereum decentralized exchanges. Benefits of openANX High Liquidity Many existing DEX suffer from low trade volumes which leads to low liquidity, owing to their “one trade per settlement” model: traders execute one trade and then must wait for the real-world currency settlement before being able to trade again, during which the traders are exposed to counterparty credit and settlement risks. With the provision of a safe tokenization process on openANX, traders will be able to onboard funds and trade multiple times before offboarding; this is crucial for the market makers and arbitrage traders that provide critical levels of liquidity Additionally, existing centralized and decentralized exchanges operate using fragmented liquidity pools. openANX aggregates the liquidity from each of its asset gateway participants to provide a sufficient level of liquidity. This also lowers the barrier to entry for new asset gateways as they will have access to the overall openANX liquidity pool. Finally, existing DEX fail to adequately provide transparency on the explicit counter party credit risk associated with asset gateways. openANX allows asset gateways tokens to be traded against each other’s, providing a market for credit risk, which results in numerous advantages such as opportunity for hedging credit risk and allowing the explicit pricing of credit risk be to expressed by the market (price discovery). Transparency The cryptocurrency community is wary of government regulations (despite the accompanying safety net), yet would still like to have a transparent guarantee of their assets. Existing centralized and decentralized exchanges do not address this need due to their lack of financial or operational transparency. The openANX platform will be open source and governed by a DAO/non-profit “Open ANX Foundation”, and it will function as the ‘decentralized exchange between exchanges’. This being open source and valuing transparency allows the openANX project to stay true to the movement of decentralization. Credit risk On the openANX platform, asset gateways fulfil the role of holding customer funds under custody and issuing IOU representative tokens on the blockchain. The gateways should still hold the customer funds in an appropriate, segregated account, however the gateway can also post locked up collateral on the openANX DAO. This collateral is time locked and made available for dispute resolution. In this fashion, customers have addition, transparent data available to determine the creditworthiness of the gateway (as a function of real world factors and collateral value, and amount of tokenized assets). Asset gateway tokens can then be traded against each other, with a premium or discount, representing perceived credit risk; this creates a market and price discovery mechanism for credit risk Risk assessment is impossible without access to various data about the asset gateway. The exchange models available currently do not provide this information, therefore traders and users cannot price risk. On the openANX platform, the replacement of exchange IOUs with fiat tokens and the availability of information to evaluate risk (collateral, market value of token, credit risk factors etc.) enables traders to start factoring in risk in their trades. What is an asset gateway? An asset gateway takes off-chain assets from customers, and mints an on-chain ERC20 token equivalent. Amongst other requirements, an asset gateway should: Post some amount of locked collateral into the openANX DAO, - Incorporate acceptance of the openANX dispute resolution process into its customer terms and conditions, and - Pre-declare its KYC and AML policy and nominate the KYC/AML contract that is used to enforce its regulatory obligations on the blockchain What is the DAO and how does it interact with the openANX platform? DAO stands for “Decentralized Autonomous Organization”, it functions using smart contracts on Ethereum. openANX abides by the DAO, which is governed by the voters on the platform. This is one of the many strengths of the openANX platform — the governance is decentralized and can mould the way the platform behaves and develops. What is an aggregated order book? Current centralized exchanges have isolated order books that don’t communicate with each other. This creates a problem in that the barrier for entry is high, and it leads to only a few exchanges maintaining and attracting sufficient liquidity. Using the “Liquidity Aggregation” technology provided by ANX, the openANX platform can aggregate all the order books so the end user can interact with a single, seamless order book that has the combined volume and liquidity from all asset gateways. What is the distinction between the non-profit Open ANX Foundation and ANX International? The Open ANX Foundation and ANX International are separate entities. ANX will contribute proprietary IP to kick-start the openANX platform. Maintenance and funding for the openANX platform will be performed by the non-profit Open ANX Foundation. Post-launch, ANX will merely be an asset gateway and supplier on the openANX platform. Other suppliers can be selected by the DAO governance board. What is the credit risk market? Tokenized representations of fiat currencies are provided to asset gateway users, replacing traditional IOUs from centralized exchanges. Since participants can make quantitative risk assessment from the data provided by the transparent nature of the openANX platform, the value of the fiat currency token provided by different asset gateways can change. Since participants have ownership of these tokens, they can be traded against each other and therefore long risk positions can be closed. This creates a new market dynamic — the credit risk market.
submitted by shadowlpb to CryptoCurrencies [link] [comments]

Now we got RDD/USD on Cryptsy. I think the immediate next (marketwise) step should be...

[I didn't do a thorough survey on what I am going to say/write. My info or knowledge might be obsolete.]
getting some current major Bitcoin exchanges to provide RDD/USD. The situation in my thinking model is that there are two sides of exchanges.
  1. Ones on the fiat side to connect cryptocurrencies: such as those listed on http://bitcoincharts.com/markets/currency/USD.html
These exchanges mainly focus on BTC/fiat. One very few of them process other altcoins/fiat.
  1. Ones on the cryptocurrency side to connect fiat: Cryptsy and... I am not sure we have other important cryptocurrency exchanges that can process fiat now.
Cryptsy mainly focus on the conversion between coins, including BTC and altcoins.
Although they are all "exchanges," it can be easily seen that they represent very different roles on the overall cryptocurrency industry.
Now we got RDD/USD on Cryptsy. It's undoubtedly a crucial milestone. I think the next step is getting RDD on "Bitcoin/fiat" exchanges.
I don't think primary players, such as BitStamp and Bitfinext, would be interested because they don't need to. If they are willing to add RDD, that would be extremely great. It's been a long time since btc-e added an altcoin. I think the best bet would be the secondary players, such as itBit, ANX, and hitbtc and tertiary players, such as CoinTrader, Comp BX, and Kraken.
The secondary and tertiary players may have the incentives to reach for altcoins in order to increase their volumes. For RDD, being added on these major Bitcoin exchanges can greatly improve RDD's visibility (I believe many people know only Bitcoin) and probably bring a serious fiat flow into RDD. Cryptsy's current daily volume for the whole USD market is around 3 BTC. That of Kraken is about 200 BTC. hitbtc is clearly interested in adding altcoins and having a voting system: https://hitbtc.com/vote but it seems difficult to get on hitbtc via vote.
This step is not only about the price of RDD but also about the visibility, popularity, and the range of acceptance. With the critical features, such as energy saving, resistance to 51% attack, etc., that Bitcoin, Litecoin, and Dogecoin do not possess, if RDD can get on these exchanges, the balance of cryptocurrencies may be intriguingly tipped.
submitted by ycz to reddCoin [link] [comments]

ICO Update – Jul 2 2017

ICO Update – Jul 2 2017 Here is the progress of the Initial Coin Offerings that we are following. Please go to https://urbancrypto.com/ongoing-icos/ for a full list of Ongoing ICOs.
Giga Watt ICO Update – Jul 2 2017
The Giga Watt ICO moves along ith slow contributions coming in. They have issued 12,579,633 tokens and the current rate is $1.05 per token. So, they have raised over 12 million dollars which in itself is a huge accomplishment. The ICO period is one of the longer ones we have seen and we will see how far they go with 29 days left for this Blockchain-based Mining Solution
To read more on Giga Watt click https://urbancrypto.com/giga-watt-wtt-profile/ To follow the crowdsale click: https://cryptonomos.com/wtt/
FUND YOURSELF NOW ICO Update – Jul 2 2017
Fund-Yourself-Now, a blockchain based crowdfunding platform launched its ICO on June 17th with a period of 46 days. Their hard-cap is 7.5 million FYN tokens or about 65,000 ETH which at current market prices is approximately 22 million dollars.
FYN already has a pipeline of upcoming ICOs to be launched on their platform and we will be detailing them shortly.
Here is the progress so far: Contract Overview | FundYourselfNow ETH Balance: 4,506.062166217484335852 Ether ETH USD Value: $1,314,778.82 (@ $291.78/ETH) No Of Transactions: 817 txns
To read more about the Fund Yourself Project Now click here. https://urbancrypto.com/fund-yourself-now-crowdfunding-platform-profile/
Corion ICO Update – Juy 2 2017
Corion’s goal is to be a multifunctional Platform for businesses and individuals to join and build a worldwide decentralized network, based on mutual benefits, simplicity, security, cost-effectiveness, speed and a stable means of payment. Corion launched its ICO on June 18th, 2017. There was no minimum or maximum cap set. The sale has not generated a lot of contributions in the past 24 hours. The Crowdsale has raised $1.3 million dollars so far.
To read more about Corion, click here: https://urbancrypto.com/corion-platform-stabilized-cryptocurrency/
To follow the Corion ICO click here: https://www.corion.io/
Polybius Bank ICO Update – Jul 2 2017
Polybius Bank states that they will combine features of modern banking, IoT, Big Data and Blockchain-based technologies while also meeting security and UX requirements.
They opened their crowdsale on May 31, 2017. The terms are that each PLBT token will cost $10 and the maximum number of tokens to be sold is 20,000,000. That leaves the possibility of them raising up to $200 million dollars. They have already raised around $26,000,000 dollars as per their website.
The ICO will come to an end in a couple of day, to read an update from our friends at BitcoinChaser click here: http://bitcoinchaser.com/ico-hub/polybius-ico-update To follow the Polybius ICO click here: https://polybius.io/
DAO Casino ICO Update – Jul 2 2017
In on-line gaming the biggest issue that all parties involved have to deal with is trust, the DAO Casino platform directly addresses this issue and removes the need for any trust from the parties involved.
Built on the Ethereum Blockchain and powered by the Ethereum ERC20 token protocol, DAO Casino, through its decentralized, open-code platform is transparent and there is no way for any of the parties to take advantage of each other. This produces the first truly “fair” on-line gaming platform.
The ICO was off to a quick start and continues to raise funds. The sale has a hard cap of $25,000,000, As of the time of this publication they have raised around 13 million dollars.
To have a look at our complete profile, click here: https://urbancrypto.com/dao-casino-blockchain-gambling/ To follow the DAO Casino crowdsale directly, go to https://dao.casino/
Upcoming Initial Coin Offerings
We have updated our list of upcoming ICOs and it is extensive. We have added links to the companies websites and whitepapers where available. For a completely comprehensive list click here: https://urbancrypto.com/upcoming-icos/
We anticipate uploading Profiles on the following upcoming ICOs in the next few days: Populous – Invoice and Trade Finance OpenAnx – Decentralized Exchange PrimalBase – Distributed Workspace for Tech Community MyBit – Decentralized Asset Management OmiseGo – eWallet Platform
If there is an ICO that you would like to see a Profile that we have not listed, please let us know and we will do our best to provide it ASAP.
ICO Update – Jul 2 2017
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Bitcoin ($BTC) Price Analysis - Bears in Charge? ANX Bitcoin Debit Cards Bitcoin Rising With The Tide?! July 2020 Price Prediction & News Analysis Bitcoin Sentiment: By Time and by Price WHERE Is The Bitcoin PRICE Going? [Bitcoin BTC Technical Analysis Price Prediction 2020]

ANXBTC Review . ANX founded in June 2013 and rapidly grown into one of the largest Bitcoin exchange platforms. In accordance to bitcoincharts ANX stormed in the TOP 10 Bitcoin exchange list by volume and now is lining in the 6th place. ANX which was formerly known as ‘Asia Nexgen’ is a Hong Kong registered company and a licensed MSO (Money Services Operator) with a strict compliance to KYC Bitcoincharts is the world's leading provider for financial and technical data related to the Bitcoin network. It provides news, markets, price charts and more. ANX is a centralized cryptocurrency exchange. There are 0 coins and 0 trading pairs on the exchange. ANX volume in the last 24 hours is reported to be at ₿0.00. Loading... ANX Bitcoin Debit Card. The ANX Bitcoin Debit Card is one of a handful of debit cards available across the bitcoin community today. The debit card automatically links to your ANX account for convenient spending. You can spend it anywhere in the world – just like an ordinary debit card – or withdraw cash from ATMs.

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Bitcoin ($BTC) Price Analysis - Bears in Charge?

This video covers how top traders and retail traders acted both before and after the large BTC drop and also provides potential price movements that could happen in the near future. Here is the ... Most Realistic Bitcoin Price Prediction for June 2020 Best Bitcoin Price Prediction 2020 Charts 👀 - Duration: 10:15. Altcoin Daily 44,770 views. 10:15. Bitcoin Price Prediction 2020 2021 If you are knew then make sure you understand some of the basics about Bitcoin. You do not really need to understand Bitcoin mining and blockchains however some ... TechnicalRoundup is sponsored by Bybit (https://twitter.com/Bybit_Official) Visit Bybit: https://bit.ly/2XMxbuJ ----- Technic... Este es mi sitio aca lo dejo todos los dias para el que inicia en cryptos. tienen WALLET- EXCHANGE- STAKE y mas. https://exchange-crypto.blogspot.com NO OLVIDES SUSCRIBIRTE Y DARLE LIKE AYUDAS AL ...

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