The War on Bitcoin - CoinGeek

A Lost Gem In A Sea Of Shitcoins

What’s up everyone!
 
Yeah, it’s another one of “those”. But honestly, after being in the game for long enough, you end up developing an eye for the good coins. Not the “good” ones, the GOOD ones. Believe it or not, research and common sense is the name of the game!
 
A little bit more about me: I come from a business & logistics management background. I started investing in cryptocurrencies and trading a little more than six months ago. As a person, I am very detail oriented and I’ve been researching all kinds of cryptos, for hours a day, for the past six months. The more I researched, the more I learned, the more I became hungry for knowledge, and therefore the more i researched. From trading to cryptocurrency basics, their economics, their political implications, the technology revolution they represent, the human psychology aspect as well as emotional trading behaviours (FOMO, FODO, etc.), all of it!
 
I’ve purchased Ethereum at 150$ (when I first started in crypto). Then NEO back when it was still AntShares and trading under 3$. Gas (Antcoin back then) at 30c, OMG when it was sub-1$, and ETP at exactly a dollar (selling it later at 5$). This was all before I even knew how to do a basic margin trade & was still in the process of learning about crypto (and while tether still had a “reasonable” market cap! LOL)
 
My approach is pretty simple when it comes to crypto. I split coins into seven main categories:
 
-Store of Value (BTC)
-Payment (DASH, BCH, LTC)
-Pure Anonymity and/or Evil Stuff (XMR)
-Platform/platform’ish (ETH, NEO, LISK, CARDANO, ETP, Iota, Factom and the likes)
-Shitcoins (99% of ERC20 tokens)
-Absolute Shitcoins (Boolberry, Embercoin et al.)
-Fee Split / Dividend Coins
 
That last category is my favorite. While I do strongly believe in diversification (10% store of value, 10% payment, 5% anonymity, 25% platform in my case), I always have a “lean” towards coins that make business sense. Coins that derive their value directly from the amount of usage the platform gets (Factom, for example). Coins such as NEO, BNB, Kucoin, Coss, ICN, TenX and the likes, basically coins that either have a direct “dividend-paying” property (NEO generating gas, Kucoin/Coss awarding holders with a % of the exchange’s trading fees) or an indirect “dividend paying” property such as BNB, ICN, TenX using quarterly profits to buy back their own coins and burn them, thus raising the value of the rest of the coins in circulation over time.
 
Now let’s look at market caps of these direct and indirect “dividend” coins.
 
Neo: 2.3B
TenX: 246M
Binance: 200M
Iconomi: 155M
Kucoin: 44M (68M at ath, not too long ago)
Coss: 5M
 
You see that odd one there with only 5M market cap? Yeah. That’s the great buy right now. That’s the x10, x20 or even x30 that most people haven’t realized yet. That’s also the “dividend coin” you can scoop a ton of while it’s on the cheap, and make massive recurring revenue from as the exchange solidifies and evolves.
 
What is COSS? COSS stands for Crypto One Stop Solution. They’re a Singapore based cryptocurrency exchange with an amazing team that’s currently expanding. They aim at becoming the “One Stop” solution for crypto, meaning A) an exchange, B) a payment gateway for merchants to accept crypto payments, and probably sometime in the future C) crypto debit/credit cards. They offer their own coin (COSS coin), and holders of this coin receive 50% of the trading fees generated by the exchange (more on this later).
 
Now, what a lot of people still don’t realize in crypto, you don’t invest in the bigger market cap coins expecting to make a killing (“the moonshot”). Sure, they’ll bring you nice long term growth as the whole market matures, and that’s where you want to diversify and solidify your portfolio, solid coins with a purpose. But what if you want more thrill? An actual opportunity to “moon”? You find a project that makes business sense, that has at least a working product, and a good team. Buying NEO at 2.5B market cap? You missed the boat, it was a dollar a few months ago and already went x60 (“mooned”), and now stabilized at roughly x38. OMG had it’s x10-15 already. BNB as well. Their market caps are big, and a lot of buying needs to happen to even double in price.
 
Antshares (NEO) back then was a steal at 1, 2 and 3$. It was a huge risk, with huge rewards. They didn’t even have a product other than their blockchain. No dApp running or even being built on it, no english resources to even figure out how to code on it and deploy a smart contract, no marketing, hell we didn’t even know if Da Hongfei was still alive. All it was is a Chinese based smart contract platform, with an innovative dBFT concensus algorithm. It was a 100M market cap coin that early adopters believed in, and essentially invested in when it was not much more than a website and a blockchain. Look where it’s at now, with more than a dozen dApps being built on it, a solid team of roughly 10 devs, with the NEO council also funding City of Zion (team of 20+ NEO devs). NEO has grown into an incredible community, and is now launching coding dApp contests left and right, with the latest one in partnership with Microsoft china & offering half a million dollar’s worth in prizes.
 
NEO holders get rewarded with GAS on a daily basis. When NEO gets further adoption, all fees such as registering an asset, deploying a contract, changing an asset, etc. will be redistributed to NEO holders as well on a pro rated basis. Only transaction fees are not, as those will go out to MasterNodes. If you got yourself a thousand NEO’s back when they were a dollar or two a piece, you’re now generating 7 gas per month. That’s roughly 161$ USD per month, on a recurring basis, at current gas prices, out of a 1000$ investment. That’s a whopping 16.1% PER MONTH on original investment, and not even counting the fact that you pretty much made 37000$ profit on the NEO’s themselves. Today? Well, you gotta dish out 38000$ to buy a thousand neos and make 161$ per month, basically bringing you 0.4% per month on original investment.
 
Same with bitcoin. Early adopters that got it at pennies. It just hit $10K USD a piece. For every 30 cent spent purchasing bitcoin in 2009, you’d have $10K USD in the bank account. Invested 3$? 100K. Invested 30$? 1M.
 
Ethereum? From a dollar to half a grand now.
 
Moral of the story? Early adoption pays off. History repeats itself, and it will continue to do so. Bitcoin was digital money for nerds, ethereum was a cool project that nobody really gave a crap about until they got EEA which showed credibility (early adopters of eth had a great vision, I’ll give them that!). Neo was chinese vaporware. What do they all have in common? Their.Early. Adopters. Made. A. Killing.
 
Look where they stand now. Look where a lot of coins stand now. Even a lot of ERC20 tokens that don’t even really have a reason to exist have market caps over 100M. And for what? They don’t reward you with anything other than price increasing because more people buy (greater fool theory)? They don’t reward you with dividends from the project/platform itself? Their value isn’t derived directly from the amount of usage it gets (a la Factom, PaulSnow you genius.)? They still don’t even have a minimum viable product to show? When you ask yourself why does it need a coin, and the answer is either “uhh…” or “oh it grants you voting rights” (that nobody gives a crap about, let’s be honest), you should reconsider your investment strategy. Cause I can tell you a lot of people don’t know what the hell they’re doing, and they’d be better off diversifying in the top 5 or 10 coins and holding than investing in the shitcoinfest that crypto has become.
 
And that’s why COSS is a pretty buy right now. You’re investing in a platform that’s already up and running, not a whitepaper or vaporware. Hell even Eth and Neo were riskier investments for early adopters. Let’s go over the cons first:
 
It’s ugly. The UI sucks.
It doesn’t have API’s yet, meaning there’s no bots to create liquidity, and therefore low volume.
It’s been fudded to death by KuCoin shills (and their referral links you’ve seen everywhere a month ago).
Charts are horrible
 
That’s about it. Whenever you read up about coss, those are the cons you’ll find. But what about the pros? Well, all of this is in the process of being fixed, as we speak.
 
Singapore has lax laws about cryptocurrencies and issued a statement it does not feel the need to regulate them.
It’s securing exclusive ICO’s already despite being a tiny exchange, and has mentioned being able to secure from 4 to 6 per month.
The team listens to the community’s feedback and takes it seriously. This is Gold. One of the first things they were criticized about was trying to do too many things at once (an exchange, a payment gateway, a full one-stop solution for crypto, etc.) and they’ve taken the community’s advice and decided to focus solely on the exchange for now and build it properly, before branching out to the rest. “Better excel at one thing and build from there, than be mediocre at multiple things at once”
Also following community feedback, they are implementing trading promotions “a la Binance”.
Part of the total supply of COSS tokens will be donated to charities (the community votes to who they go). First of all, that’s just plain nice. Secondly, I find it pretty damn cool that we donate this for good causes, and they basically keep “generating” income from it. It’s basically like a “perpetual donation” on behalf of COSS and all of its users, and definitely will make a lot of people feel good about using the exchange. Thirdly, this pretty much guarantees millions of COSS tokens are going to be in perpetual “HODL” mode, essentially taking them off the market.
They will be implementing a FIAT gateway sooner than later. We all know FIAT gateways are game changers.
They are constantly hiring. The team growing is definitely a good sign.
They are revamping the overall UI and charts, once again following the community’s advice, and the proposed new look is fantastic! Check it out here, as well as other great announcements: https://medium.com/@runeevensen/coss-io-7379b7628d93 EDIT: It has been brought to my attention that there is a UI upgrade scheduled for tomorrow (Dec. 3rd), although it isn't clear if it's a minor one or the actual major overhaul, might wanna keep an eye out on that!
They are upgrading the matching engine and releasing API’s soon to allow bots to create liquidity and significantly raise the trading volume.
Unlike KuCoin, the revenue split (COSS token holders) will always receive 50% of the fees, whereas kucoin will start decreasing it in 4-6months and it will bottom out at 10-15%
The revenue split from trading fees is controlled by a DAO, meaning the COSS team cannot arbitrarily decide to change it later down the line, unlike KuCoin where the control over the fee split is centralized and they decrease it as they please.
The DAO model also avoids it being labeled a security. First of all, those aren’t really “dividends” as dividends would require them to calculate income minus expenses to determine profit, and then distribute this profit to shareholders, and obviously that’s a legal nightmare. With the DAO model, you don’t get a percentage of the “profits”, you get a revenue split from the exchange fees, and it’s done by clicking a “distribute” button which makes a call to the smart contract and distributes your coins. COSS itself is not giving you anything
COSS is still in Beta. It has a tiny market cap. Now’s the time to pick it up, not when it’s out of beta and has become successful, or you’ll be in another Antshares/NEO situation. A ridiculously small move from 5M to 50M in Mcap and that’s x10, a move from 5M to 150M (still under binance levels) and that’s x30.
In the long run, COSS aims to be more than just an exchange. Holders of the token, who currently get 50% of the exchange’s trading fees, will also get 50% of other fees charged from coss. This includes their eventual payment gateway. Merchants around the world wishing to accept crypto payments will be able to use COSS’s gateway and COSS will charge a 0.75% fee per transaction. We, as COSS holders, also get 50% of that. You believe crypto is the future and going mainstream? Well your COSS will entitle you to the revenue generated by tens of thousands, if not hundreds of thousands of businesses accepting crypto payments via COSS Point-Of-Sale.
COSS also mentioned that all other COSS “fee generating” products to come will all be subject to the same DAO/50% split. Logically, If they have 1) The trading platform, and 2) the payment gateway, then the third step is solving the problem of spending the crypto in places that don’t accept direct crypto payment, AKA a crypto credit/debit card. Well, guess what? Users of such cards will be charged a small fee as well when their crypto is being converted to fiat in real time for payment at a gas station. We as COSS holders are, again, getting 50% of that fee. As you can see, this is a coin that makes business sense to invest in. Unless you really, reaaaaaally care about a coin being the “Future of decentralized prediction markets” or “the future of decentralized dating” or the “decentralized gambling coin” and whatnot.
Smart money is smart. It's only a matter of time before savvy investors discover this coin.
 
What do the dividends look like (credits to lickmypussy28):
 
Here’s an excel showing the Yearly %ROI based on the COSS exchange volume and your COSS token buy-in price: https://i.imgur.com/XKjjCbZ.png
 
Here’s another one showing how much you’d make in USD per year based on how many COSS tokens you own, again all relative to the volume on the left: https://i.imgur.com/p15DKAr.png
 
Lastly, here’s another showing the exact same as above but on a weekly basis: https://i.imgur.com/ezp5FCV.png
 
ALTHOUGH, keep in mind, the calculations above take into consideration an average trading fee of 0.2% and while this fee is accurate right now, it will most likely average 0.1% once API’s are released and liquidity/market maker bots start operating on the platform. Also, the calculations above do NOT take into consideration that in 4 years from now, there will be 200M (hard cap) COSS tokens on the market. HOWEVER, these calculations also do not take into consideration that by then, COSS will have a fully up and running payment gateway, crypto credit cards, and other revenue-generating products such as a crowdfunding platform, smart contract deployment platform, etc. that are also generating revenue for COSS holders.
 
All in all, if all goes as planned, the payment gateway/cards/other products will negate the additional COSS tokens released in the market as well as the average trading fee of 0.1%, and therefore the numbers presented in the excel docs will remain sensibly the same. Also, if crypto really takes off in the mainstream, then the revenue split to coss holders from the payment gateway & credit card spending could very well double, triple or quadruple all the numbers you’re seeing in these excel sheets, and that’s on the low end. Remember, the exchange only charges 0.2% (0.1% average once we have bots) out of which we get half, but the payment gateway on the other hand charges a flat 0.75% (7.5x the what the exchange’s fee), out of which COSS holders get half. This could be a massive revenue driver, easily surpassing the exchange itself, and honestly if at that point in time this coin is NOT valued at 3B+ (I mean, even ethereum classic is over that right now..), then I’ll just give up on the whole notion of logical thinking.
 
Quick example, assuming in 4 years 50M in gateway processing daily (18B yearly), 0.375% of that would be 187.5K USD daily for COSS holders. With 200M Coss tokens total supply, if you hold 10K coss you’d generate 9.375$ per day (65$ per week, 282$/mo.), and that’s purely from the gateway (totally excluding the exchange revenue, crowdfunding revenue, credit card revenue, etc.).
 
If you have 100K coss you’d generate 93.7$/day, 650$/week, 2820$/mo, again purely from the gateway.
 
If you’d rather assume more conservative figures (let’s say 25M in daily gateway processing on COSS, all around the globe, or 9B yearly), then simply divide these figures by half. If you wanna go balls to the walls, double them (100M daily, 36B yearly). Play around, have fun with the numbers! To keep things in perspective, square has processed 50B’s worth of transactions in 2016. Therefore I believe using 9B, 18B and 36B for our calculations isn’t too far fetched, and actually pretty reasonable.
 
Anyway, to sum this up, no matter how you look at it, COSS is an extremely promising project with huge potential, and actually has working math (and a working beta!) behind it. It’s only a matter of a month or two before they’re out of their Beta, have upgrades to their UI and engine, and start really growing from there. The team listens to the community, which is super important, and they’re working on a multitude of revenue streams, out of which not only them, but all coss holders will benefit from, fifty fifty.
 
Their crowdfunding platform will be a competitor to indiegogo, gofundme, kickstarter, and they’ll have a small percentage fee (50% of which goes to COSS holders). The crypto Point-Of-Sale will be a competitor to Square and the likes (50% revenue to COSS holders). The crypto credit card (also 50% revenue to COSS holders). It is truely an admirable project. Shovel manufacturers made a killing during the gold rush, and COSS is positioning itself as the shovel manufacturer in the crypto adoption gold rush. This is a coin that makes sense to invest in, it is ultra tangible, and will give greater returns than any type of “decentralized [insert function here]” type coins.
 
On a personal note: Honestly, I believe this is the proper way to ICO, by NOT giving people worthless tokens that only go up in value due to speculation (looking at you, 99% of ERC20 tokens). Let investors guide you, let them reap 50% of the rewards as THEY are the ones funding you. This’ll keep the investors interested in the project, and every single one of them will have a direct incentive to vouch for your product. It’s only right for the investors to get rewarded with something tangible, I’d take that any day over a speculative shitcoin who’s only purpose was to put money in the project’s founders pockets
 
Oh, and cherry on the sundae: they are planning on launching massive marketing campaigns as soon as UI and trading engine are ready, Q1 2018, as you can see in Rune’s Nov 27th update. I suggest you read it, it puts us up to date on a lot of exciting new things: https://medium.com/@runeevensen/coss-io-update-november-27th-fa74f1237062
 
Quoted directly from said link: “For those that are most interested in discussions regarding the trading price of COSS. Please have in mind that when we entered our token sale, our clear sales message was a 3–5 year road-map, and not a 3–5 months pump and dump. We are a small team, doing our utmost to deliver and all we ask is for you to continue to give us feedback and also for you to give us some time to deliver. *That being said. We still aim to be out of BETA as soon as possible with a new engine for the exchange in Q1 2018. New UI should be in place well before that.** Once we feel we have this in place we will roll out massive marketing campaigns to attract users and increased volume. So although we have a 3–5 year road-map ahead, you should expect to see 2018 being “our year”. The 3–5 year plan is more on the complete roadmap when we proudly can call ourselves a one-stop solution. For now it is all about the exchange, and there we will see rapid changes over the coming weeks/months.”*
 
All in all, i’d like to thank the COSS team for actually caring about their investors, keeping them in the loop, listening to their feedback and giving them a unique and tangible opportunity. I’d also like to thank all the other COSS investors, who see a huge potential in this project and support the team, and lastly, all of you crypto-heads for reading through!
 
Happy hodling, and hopefully see you all at 500M+ market cap by late 2018 :)
 
-Some random guy on Reddit.
 
PS: Not investment advice. Always do your due diligence. Also, if you’d like, you can join the discussion at /cossIO
 
Friendly reminder: ETH is the quickest way to get your funds on the COSS exchange, and COSS/ETH pair has 4x the volume of the COSS/BTC pair.
submitted by globetrotter_s14 to CryptoCurrency [link] [comments]

BINANCE: A DRIVER FOR BLOCKCHAIN AND CRYPTO-CURRENCY ADOPTION

  1. Introduction Binance is an exchange company formed in 2017. If one may ask, is Binance just an exchange or a progressive crypto exchange? My answer is that Binance is not just a crypto exchange company but an 'engine' that drives crypto-currency adoption. How? My readers may ask. My answers will first start with a simple analogy of what is adoption.
Adoption is a process whereby a person assumes the parenting of another, (usually a child, from that person's biological or legal parent or parents,) and in so doing, permanently transfers all rights and responsibilities, along with filiation, from the biological parent or parents (Wikipedia,2018). In the sense of crypto-currency it is a process whereby a person assumes the parenting of another ( new idea or way or thing) and in so doing permanently transfers all rights and responsibility that belong to the old or normal way to the new way. Driving in the other hand is knowing how to operate the mechanisms which control the system (vehicle); it requires knowing how to apply the rules of the road (which ensures safe and efficient sharing with other users). An effective driver also has an intuitive understanding of the basics of system (vehicle ) handling and can drive responsibly (Jacob,2018). A driver may be a person, company, a system or device that knows the mechanism which control a system and the driver must formulate or know the rules and the basics of directing the system to its target. A device driver for instance is a system (computer program) that operates or controls a particular type of device (EMC,2010). In our case we are looking at crypto-adoption driver, a person or company that knows the mechanism which can be used to make greater number of people to transfer permanently the rights and responsibility of fiat money to blockchain currency (Crypto-currency).
A clear case of driving adoption can be easily seen in Football which have been in existence long ago, but FIFA devices a way to entice all nation to participate and develop football infrastructure in there countries by moving Football tournament hosting around different regions and other things they did to make the sports to be popular (adopted) all over the regions of the world.
Similarly, crypto-currency have been there before Binance started, crypto-exchanges have been there before the advent of Binance but what Binance did and what they did not do helped in replicating adoption across all the regions of the globe. The only challenge here is whether these position can be substantiated?
  1. The Authors experience My name is Bartholomew Eke (PhD), a Software Engineer and Senior Lecturer at the University of Port Harcourt, Nigeria, Africa. I developed interest on cryptocurrency in 2010 after reading Nakamoto published paper Bitcoin: A Peer-to-Peer electronic cash system (Satoshi,2008) which I saw as a research on cryptography protection of online payments. I didn't well understood it until on Febuary 2014 on hearing that Mt. Gox the largest Bitcoin exchange tend, had gone bankcrupt and had made away with depositors 'Coins'. The word coins attracted my interest, I wondererd why they should be keeping the Coins instead of the notes, but I latter learnt it was not Coins but Bitcoins. Before that time Satoshis's Bitcoin was simply viewed by me as a research exercise aimed at improving crryptography which I had many programs on. The research on tracking of Mt. Gox Bitcoin in the publication of Sarah et. al (2016) increased my interest in Crypto-currency and exchanges research. The research is still ungoing though I have published some of my findings but one of my crushial discovery is that Binance is not just a cryptocurrency exchange but a driver of cryptocurrency and blockchain adoption. I am one of the few people trading in crypto exchanges as part of my research project so it often does not matter whether I gained a trade or lost provided I made my findings. I have used more than 15 exchanges only on experimental bases some of which include Coinbase, Blockchain, Kraken, Bitrrex, Tradesatoshi, Binance, Kucoin, Bit-Z, Cryptopia, Luno, Abucoin and Cryptagio just to mention a few. My criteria of registering include Low volume, High Volume, Low fee, High Fee, difficulty of registration, exchange incentive, exchange policy, cardinal goal of exchange, Fiat or non-fiat, age of exchange and other criteria which I will still publish in my future paper. I have lost and gained crypto in the process of the research but I saw some things that Binance does differently which may or may not have contributed to surge in users interest.
  2. Binance Key Drivers In discussing the story of a young exchange called Binance there are some findings worth mentioning and they include: i) Segregation (Discrimination) : In all the money transfer companies and exchanges I have studied before the advent of Binance there is serious segregation among its customers. In some exchanges this differentiation is very scaring but in Binance it is very minimal, unnoticeable and almost non existent. I will use three experiences to explain, in Coinbase my country (Nigeria) can not trade but they can deposit and withdraw crypto, so why allow them to register only to segregate. Most exchanges, majority of users do not withraw more than 1BTC per day but exchanges group them into three level of users which have different withdrawal limits ( which is very OK for some reasons) but many exchanges go further to place trade restrictions based on this segregations. For instance Cryptopia do not allow you to trade USDT or its equivalent if you are not in certain levels. Bit-z will not allow you to participate in some trading competition or even get airdrops if you are not in some category of user. There are more instances but you will not experience any difference as a user until you want to withdraw above certain limits in Binance. Binance operates little or no discrimination allowing 'Private Crypto' users to remain in level 1 and operate freely provided they withraw smaller amounts. There are many world micro scale and unbanked users who can not afford to get any valid government ID for level 3 registration- Binance is were they fill welcomed. I spent some months as level 1 client and now am in level 2 but my withrawal is hardly upto one BTC a day so I feel no difference but that's not true with many exchanges. ii) Incentives: The unprecidented incentives that Binance offer can make some body with zero dollar to be a marchant with Binance. In November 2017, I told my research students who do not have funds to complete their research work, to register in Binance and generate money to finish their research; they did and are about to graduate. Binance empowered them, they simply registered, got some Airdrops from some new crypto companies, sold and traded with the money and where given trading bonuses and they sold the coins and paid for there research costs via Binance. Their trading incentive vary so much that all kinds of traders benefit, to be more concrete Ontology had a condition of trading 0.5BTC over a week. Using $100 a trader can easily trade five times a day which is $1000 buy-sell volume, in five days that is $5000 volume above 0.5BTC at that time and they gave 1000 ONT which was worth (at some time) $10000, what else is incentive or empowerment. No one can deny these facts. Some new exchanges have copied these model which is great for cryptocurrency adoption. All young school leavers in my area are into Airdrop due to this model introduced by Binance. iii) Low trading Fee : Binance is a cryptocurrency which is accepted for transaction in my local domain thanks to the exchange, for the past six months IT training centers in my locality accept and use Binance as payment for IT training. Trading fee is half when the coin is used to pay for fees but due to its relative stability Binance have found usage in other payments. Beginners can easily learn trading at reduced cost due to low fees. Majority of crypto traders in Binance are startup traders who are learning fast due to trading incentives. iv) High Volume: One of the Support team in Abucoin said that people go to Binance because of there high trading volumes, many people still have the same opinion. But as an academics I know that at a time Binance traded less than 1BTC during their starting stage either as one second or one minute trade volume, they did not start the first second of opening trade with large volumes. BTC only have less than 40% of all Crypto (Coinmarketcap,2018) and Binance introduce good altcoins which was followed by volumes. I was told when Binance started by a forum friend that an exchange that does not offer fiat currency will not attract traders but I differed, insisting that a trader will always prefer to make money in 'Aghanistan and spend it in Paris'. If a trader can ingage in quality trade in an exchange he will only go to the next exchange for cash-out. Cashing out is not always a problem once there is another exchange that is ready to exchange even a single crypto like Bitcoin or even TUSD or USDT. v) Honesty: Binance is an honest exchange, they promise they will distribute prices for trade in a given time you will get it before the time or right at the time they promised. Some exchanges do not add crypto handling delays when they make promise only to discover that a transfer may take 30 seconds today and 3 days the next hour. Binance will tell you two weeks after trading competition the coins will be distributed, they do not usually mean it. What they actually said is that "in two days time after context we will send the winners there coins and the coins can take at most 10 days to reach". In most cases the coins reach in seconds instead of the added days they promised. Cryptocurrency is scary and new users are afraid of dealing with faceless customer service personnels, emails and text messages. What they always want is "your coin is confirming 1/30 confirmations"; they can go to sleep believing that in 5days the coin will be their own. Binance delivers on promises. When they found abnormality that will make customers loss they will raise alarm. For instance during Bytecoin surden price spike in early May 2018 they warned customers to trade with cursion explaining that coin deposit problem may have caused price abnormality-honesty. They constantly remind you to trade with their Binance coin for low fee even when they know that your failure to do that results to higher fees and more gain to the company but they prefer to honestly warn customers. v) Selection of Promising Alt Coins: I am a lecturer in Africa and have never worked with any crypto company but I have traded more than 15 coins in Binance (the evidence is the piece of coin left) but the coins are promising. The coin that is usually at the bottom of the Binance volume is Via Coin which is still a good coin (from my accessment). Most of the coins listed in the exchange easily move up creating great choice and selection space for traders. When crypto exchange grow, users grow and trading space need to grow, Binance is master in that strategy. If a company produces a fake coin or even a 'good coin' with bad road map they will not even approach Binance for listing for two reasons- fear of not spending their money since they do not have plans to make more money from long term plan, fear that there listing request will be rejected. The choice of coins cut across prices and different rating in Coinmarketcap; Binance does not wait for a coin to be in the first 100 before listing them rather if they believe the coin is promising they select the coin. vi) Recognition of developer community Any IT company today that do not take care of its developers or technical teams well will loose them to other cryptocurrency companies and there are many of them coming up. Exchanges seem to believe that there job is to deal on other peoples products but Binance has shown that the best we to understand the crypto world is by been one with it. Binance is not just an exchange, it is a cryptocurrency, a blockchain technology and security and software development organization. This is correct but that can not be said of many exchanges except those copying Binance model. Surprisingly those exchanges copying Binance are also getting visible result. vii) Efficiency and Speed of Site and Trading App. There are things that the Western countries take for granted- power availability and very high speed internet connectivity. Readers of this story from advanced nations should jump to the next point. But the rest of the world have little power which is not even available always and internet cost are high and speed are extremely low. Even when the provider have technology to provide high speed users prefer to have their data last for one full month than to see it finished due to high speed usage. Some times provider intentionally slow down speed to avoid customers outcry of quick finishing data. This calls for exchanges to carry majority of users along in developing there trading platforms. The faster the better and Binance is acting and continues to work on this. viii) Security This is closely related to technology since internally trading apps needed to be upgraded to remain ahead of hackers, crakers and phishing organisations. Early in the year 2018 Binance had a phishing attack, we could easily imagine the state of the cryptocurrency exchange now is they had suceeded. But the phishers could not still coins even when they have broken in, this increased users confidence in the exchange and draw more new clients. The new features added to the exchange have even made email phishing extremely difficult to phishers. There are other security features added which users can sence but are hidden to public discussion. ix) Rich Binance is a rich company, rich in their attitude to the world community, rich in income generation, rich in the way they give to start up companies even when they are also start up themselves, rich in their logo and rich in communicating with customers. Rich in innovative ideas. Binance is rich. Poverty repels, so Binance will keep attracting every body to itself. x) Binance is blessed with an experienced and humble CEO When a company has an experienced leader the multiplier effect is seeing on the rest of the staff. Innovative staff will have little headache in getting their ideas approved. An arrogant leader is a liability to a company and make the company to keep regreting its actions. The leader is planning to go to Malta but he is still insisting that it is just a branch of Binance making the current host the consider its stands on tough regulation.
  3. Binance Road Pot Holes A driver must be careful about pot holes else his good car may tumble. Binance no dought now is really a cryptocurrency innovation adoption driver and must watch out for the following. i) Rise of Communities around cryptos Communities grow a company and communities make companies to go down. If all traders pull out from Binance the company will be history. When Bitcoin started, there was one cryptocurrency community, one group of Bitcoin developers, one Bitcoin enthusiast, but today that is far from the reality. We now have many Bitcoin communities (BTC, BCH, BTCP, BTG etc) and many altcoin communities. Passion have started to roll in these communities and support is continously solicited and soon tougher competitions will ensure the coin to list need to be voted for and a new way for paying for coin listing should be deviced using Binance Coin to vote. ii) Ico Support Binance supports ICOs but for more than three months there LaunchPad on their website have being showing Bread and Gifto, this is very bad. When not launching a coin the LaunchPad need to be empty and when new coin are not coming to the Binance LaunchPad the LaunchPad should go to new coins. Binance community can vote to select the next coin that will go into the LaunchPad. If it required payment then they can use their binance coin to vote and get rewarded by the new coin in a form of shared bounty or airdrop. iii) Strong Community We have discussed the rise of communities, binance is lacking on strong community (a group that have strong passion for Binance as an Exchange, a Cryptocurrency and as a Technology). A community driven by volunteers and not by Binance employee, a community that will work for the passion and not for duty. I see three Binance and the group must be very passionate about the three. This may not be group of Binance Traders - no they are too busy and have no coin or exchange friend. Binance may be working towards this direction in the Binance Angels project but wisdom must be used to get the correct arrow head of the community and to actually let go of the person to freely handle the community. If the staff want to lord it on the community followership will be for duty not for the passion. iv) Binance Bounties Binance have so many trading bounties won after the competitions. This is good but part of this bounties need to be used to bring in more new users who will register and a buy Binance and smaller amount for new members without any conditions. The trade competitions the way most of them are ends up in the hands of already suceessful members who can trade once a day and win the competition due to there financial musle. These group of big traders are highly desirable and will continue to remain in the first to third places. But future members need to be attracted with the little tokens falling out from every bounty. v) Need for Binance_Inc Exchange Binance is so big and will get bigger. Binance need to have another cryptocurrency exchange, but instead of just an exchange Binance should have an incubator exchange. 'Division Two exchange' this exchange will be low volume and should serve as a source for listing in the main exchange. If a coin is performing with high volume it can be moved to the main exchange. In a crypto in the main exchange is not performing in they can be moved back to the incubator exchange. In this way Binance will remain the technology and develop in other areas.
  4. Binance as an Innovative Crypto-currency Adoption Driver It has been said that adoption is the original dependent variable in innovation research and the desirable property of innovative systems which change agents seek to enhance. "Innovation" on the other hand is any change in structure, design, products, or processes in which there is a definable new element introduced into the system; the process is essentially the same for all technologies including blockchain technologies. In innovative space the characteristics of people or organizations are associated with higher levels of adoption and the company that makes the adoption to happen faster is very innovative. The voiced or unvoiced assumption underlying the examination of correlates of innovativeness is causal: If we manipulate the characteristics of organizations or individuals so that they more closely resemble those of the highly innovative, we will make the organizations or individuals themselves more innovative (Eveland, 1979)
Conclusion It is very easy to conclude this article by saying that since Binance was able to make more people to adopt cryptocurrency in a fast manner that they are not only drivers of cryptocurrency adoption but they are Innovative. Ask of an innovative cryptocurrency exchange the response should be Binance, when they move others copy so without the statistics of their trade volumes one can easily see that they are truely the leaders that the crypto exchange space have today.
References Eveland J. D. (1979) Issues in Using the Concept of "Adoption of Innovations", Journal of Technology Transfer, 4(1) 1-13, Retrieved 2018 from jdeveland.com/papers%20for%20Website/adoption.htm
EMC Education Services (2010). Information Storage and Management: Storing, Managing, and Protecting Digital Information. John Wiley & Sons
Nakamoto S. (2009) Bitcoin: A Peer-to-Peer Electronic Cash System, Retrieved 30 May, 2018.
Sarah M., Marjori P., Grant J., Kirill L., Damon M., Geoffrey M. V., and Stefan S.,(2016) A Fistful of Bitcoins: Characterizing Payments among Men with No Names, Communications of the ACM, 59(4), 86-93,USA.
Jacob M. Appel (2018); "Must Physicians Report Impaired Driving? Rethinking a Duty on a Collision Course with Itself"; Journal of Clinical Ethics (volume 20, number 2).
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[uncensored-r/CryptoCurrency] A Lost Gem In A Sea Of Shitcoins

The following post by globetrotter_s14 is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7h69xa
The original post's content was as follows:
What’s up everyone!
 
Yeah, it’s another one of “those”. But honestly, after being in the game for long enough, you end up developing an eye for the good coins. Not the “good” ones, the GOOD ones. Believe it or not, research and common sense is the name of the game!
 
A little bit more about me: I come from a business & logistics management background. I started investing in cryptocurrencies and trading a little more than six months ago. As a person, I am very detail oriented and I’ve been researching all kinds of cryptos, for hours a day, for the past six months. The more I researched, the more I learned, the more I became hungry for knowledge, and therefore the more i researched. From trading to cryptocurrency basics, their economics, their political implications, the technology revolution they represent, the human psychology aspect as well as emotional trading behaviours (FOMO, FODO, etc.), all of it!
 
I’ve purchased Ethereum at 150$ (when I first started in crypto). Then NEO back when it was still AntShares and trading under 3$. Gas (Antcoin back then) at 30c, OMG when it was sub-1$, and ETP at exactly a dollar (selling it later at 5$). This was all before I even knew how to do a basic margin trade & was still in the process of learning about crypto (and while tether still had a “reasonable” market cap! LOL)
 
My approach is pretty simple when it comes to crypto. I split coins into seven main categories:
 
-Store of Value (BTC)
-Payment (DASH, BCH, LTC)
-Pure Anonymity and/or Evil Stuff (XMR)
-Platform/platform’ish (ETH, NEO, LISK, CARDANO, ETP, Iota, Factom and the likes)
-Shitcoins (99% of ERC20 tokens)
-Absolute Shitcoins (Boolberry, Embercoin et al.)
-Fee Split / Dividend Coins
 
That last category is my favorite. While I do strongly believe in diversification (10% store of value, 10% payment, 5% anonymity, 25% platform in my case), I always have a “lean” towards coins that make business sense. Coins that derive their value directly from the amount of usage the platform gets (Factom, for example). Coins such as NEO, BNB, Kucoin, Coss, ICN, TenX and the likes, basically coins that either have a direct “dividend-paying” property (NEO generating gas, Kucoin/Coss awarding holders with a % of the exchange’s trading fees) or an indirect “dividend paying” property such as BNB, ICN, TenX using quarterly profits to buy back their own coins and burn them, thus raising the value of the rest of the coins in circulation over time.
 
Now let’s look at market caps of these direct and indirect “dividend” coins.
 
Neo: 2.3B
TenX: 246M
Binance: 200M
Iconomi: 155M
Kucoin: 44M (68M at ath, not too long ago)
Coss: 5M
 
You see that odd one there with only 5M market cap? Yeah. That’s the great buy right now. That’s the x10, x20 or even x30 that most people haven’t realized yet. That’s also the “dividend coin” you can scoop a ton of while it’s on the cheap, and make massive recurring revenue from as the exchange solidifies and evolves.
 
What is COSS? COSS stands for Crypto One Stop Solution. They’re a Singapore based cryptocurrency exchange with an amazing team that’s currently expanding. They aim at becoming the “One Stop” solution for crypto, meaning A) an exchange, B) a payment gateway for merchants to accept crypto payments, and probably sometime in the future C) crypto debit/credit cards. They offer their own coin (COSS coin), and holders of this coin receive 50% of the trading fees generated by the exchange (more on this later).
 
Now, what a lot of people still don’t realize in crypto, you don’t invest in the bigger market cap coins expecting to make a killing (“the moonshot”). Sure, they’ll bring you nice long term growth as the whole market matures, and that’s where you want to diversify and solidify your portfolio, solid coins with a purpose. But what if you want more thrill? An actual opportunity to “moon”? You find a project that makes business sense, that has at least a working product, and a good team. Buying NEO at 2.5B market cap? You missed the boat, it was a dollar a few months ago and already went x60 (“mooned”), and now stabilized at roughly x38. OMG had it’s x10-15 already. BNB as well. Their market caps are big, and a lot of buying needs to happen to even double in price.
 
Antshares (NEO) back then was a steal at 1, 2 and 3$. It was a huge risk, with huge rewards. They didn’t even have a product other than their blockchain. No dApp running or even being built on it, no english resources to even figure out how to code on it and deploy a smart contract, no marketing, hell we didn’t even know if Da Hongfei was still alive. All it was is a Chinese based smart contract platform, with an innovative dBFT concensus algorithm. It was a 100M market cap coin that early adopters believed in, and essentially invested in when it was not much more than a website and a blockchain. Look where it’s at now, with more than a dozen dApps being built on it, a solid team of roughly 10 devs, with the NEO council also funding City of Zion (team of 20+ NEO devs). NEO has grown into an incredible community, and is now launching coding dApp contests left and right, with the latest one in partnership with Microsoft china & offering half a million dollar’s worth in prizes.
 
NEO holders get rewarded with GAS on a daily basis. When NEO gets further adoption, all fees such as registering an asset, deploying a contract, changing an asset, etc. will be redistributed to NEO holders as well on a pro rated basis. Only transaction fees are not, as those will go out to MasterNodes. If you got yourself a thousand NEO’s back when they were a dollar or two a piece, you’re now generating 7 gas per month. That’s roughly 161$ USD per month, on a recurring basis, at current gas prices, out of a 1000$ investment. That’s a whopping 16.1% PER MONTH on original investment, and not even counting the fact that you pretty much made 37000$ profit on the NEO’s themselves. Today? Well, you gotta dish out 38000$ to buy a thousand neos and make 161$ per month, basically bringing you 0.4% per month on original investment.
 
Same with bitcoin. Early adopters that got it at pennies. It just hit $10K USD a piece. For every 30 cent spent purchasing bitcoin in 2009, you’d have $10K USD in the bank account. Invested 3$? 100K. Invested 30$? 1M.
 
Ethereum? From a dollar to half a grand now.
 
Moral of the story? Early adoption pays off. History repeats itself, and it will continue to do so. Bitcoin was digital money for nerds, ethereum was a cool project that nobody really gave a crap about until they got EEA which showed credibility (early adopters of eth had a great vision, I’ll give them that!). Neo was chinese vaporware. What do they all have in common? Their.Early. Adopters. Made. A. Killing.
 
Look where they stand now. Look where a lot of coins stand now. Even a lot of ERC20 tokens that don’t even really have a reason to exist have market caps over 100M. And for what? They don’t reward you with anything other than price increasing because more people buy (greater fool theory)? They don’t reward you with dividends from the project/platform itself? Their value isn’t derived directly from the amount of usage it gets (a la Factom, PaulSnow you genius.)? They still don’t even have a minimum viable product to show? When you ask yourself why does it need a coin, and the answer is either “uhh…” or “oh it grants you voting rights” (that nobody gives a crap about, let’s be honest), you should reconsider your investment strategy. Cause I can tell you a lot of people don’t know what the hell they’re doing, and they’d be better off diversifying in the top 5 or 10 coins and holding than investing in the shitcoinfest that crypto has become.
 
And that’s why COSS is a pretty buy right now. You’re investing in a platform that’s already up and running, not a whitepaper or vaporware. Hell even Eth and Neo were riskier investments for early adopters. Let’s go over the cons first:
 
It’s ugly. The UI sucks.
It doesn’t have API’s yet, meaning there’s no bots to create liquidity, and therefore low volume.
It’s been fudded to death by KuCoin shills (and their referral links you’ve seen everywhere a month ago).
Charts are horrible
 
That’s about it. Whenever you read up about coss, those are the cons you’ll find. But what about the pros? Well, all of this is in the process of being fixed, as we speak.
 
Singapore has lax laws about cryptocurrencies and issued a statement it does not feel the need to regulate them.
It’s securing exclusive ICO’s already despite being a tiny exchange, and has mentioned being able to secure from 4 to 6 per month.
The team listens to the community’s feedback and takes it seriously. This is Gold. One of the first things they were criticized about was trying to do too many things at once (an exchange, a payment gateway, a full one-stop solution for crypto, etc.) and they’ve taken the community’s advice and decided to focus solely on the exchange for now and build it properly, before branching out to the rest. “Better excel at one thing and build from there, than be mediocre at multiple things at once” ...
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Breaking Bitcoin - Binance Takes Credit Cards - BTT Token Sale - ETF Back On! BINANCE LIVE: Interview with Binance CEO C. Zhao. Announce ... BINANCE ALLOWS PURCHASING OF 5 CRYPTOCURRENCIES WITH CREDIT CARDS BITCOIN'S BOTTOM: READY OR NOT! - BINANCE DELISTING POPULAR COINS! - FINALLY: NEW MONEY COMING IN! Binance Exchange Trading Tutorial in Hindi Bitcoin SV Price Spike, Binance Coin Climbs Higher - May 22nd Cryptocurrency News

Satoshi began working on the first bitcoin wallet concurrently with his development of the Bitcoin protocol, and the Bitcoin-Qt wallet, as it was known, was released in February 2009. Bitcoin Daily Performance. Today's Bitcoin price is $13,872, which is up 1% over the last 24 hours. Bitcoin's market cap is $257.09B. 24 hour BTC volume is $22.11B.It has a market cap rank of 1 with a circulating supply of 18,533,681 and max supply of 21,000,000. Bitcoin is traded on exchanges. Bitcoin had an all-time high of $19,338 almost 3 years ago. Over the last day, Bitcoin has had 15% ... From 2009 until 2017, that 1MB limit on total transactions was the single most contentious technical aspect of bitcoin. Why does it matter? A single, simple Bitcoin transaction is relatively small from a data standpoint, so 1MB every ten minutes (or 6MB per hour) shakes out to about seven transactions per second before the network becomes overly congested. There are three leading factors he cited to back this assertion: Bitcoin Cash’s network hash rate has dropped 30% since the halving (dramatically lower than that of BTC), network usage measured in U.S. dollar terms is at all-time lows, and it costs less than $10,000 per hour to 51% attack the network. Bitcoin Cash is not looking healthy: Blocks avg. per hour (last 24h) 6: Reward Per Block: 6.25+1.14 BTC ($113,579.6 USD) next halving @ block 840000 (in 184157 blocks ~ 1269 days) Reward (last 24h) 956.25+174.78 BTC ($17,377,678.95 USD) Fee in Reward (Average Fee Percentage in Total Block Reward) 20.07%: Difficulty: 16.788 T next retarget @ block 657216 (in 1373 blocks ~ 10 days 2 hours) Hashrate: 127.114 Ehash/s +2.77% in 24 ... Bitcoin is the first example of decentralized digital money established in 2008 by a person or a group of people under the pseudonym of Satoshi Nakamoto. This account of bitcoin history resumes the first ten-years (2008 - 2019) of the cryptocurrency. Bitcoin price since 2009 to 2019. Bitcoin price charts.

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Breaking Bitcoin - Binance Takes Credit Cards - BTT Token Sale - ETF Back On!

#BINANCE #BITCOIN #BTC Binance CEO Zhao: In this AMA we are discussing BTC price and talking about Bitcoin price prediction. Also, we prepared an airdrop of 10 000 BTC to giveaway for our followers. This is how bitcoin's bottom is formed! Binance delisting popular coins! Fed prints $60m USD per minute! Huge bank to store crypto! ETH ALGO BAX FTM NEWS For Business Inquiries ... BITCOIN में INVESTMENT करें या नहीं I Complete Analysis I Dr Vivek Bindra - Duration: 13:38. Dr. Vivek Bindra: Motivational Speaker 3,290,962 views Using Koinal, Binance clients can buy five cryptocurrencies including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), XRP and Bitcoin Cash, The London-based payment processor charges 2.5% per ... If you’d like to share the Breaking Bitcoin playlist to keep someone ... How I make Up to $80 Per Day, DAY-TRADING XRP On Binance! - Duration: 18:43. Romeo Casper 32,992 views. 18:43. Bitcoin ... Today we saw Bitcoin briefly climb over $8,000 before falling lower again. It remains just under this level. Last week we saw it hit its highest level so far this year climbing past $8,300 on ...

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