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Small reviews of (I think) all incremental games I've ever played on Android
I don't know if this will be useful to anyone. So I write a line or two about every game I play, and decided to find all the incremental in my game journal and post them here. It starts with the latest games I've played and I think goes back to several years back. One thing I've realized is I have such a love-hate-hate relationship with this genre since I think I've hated 90% of the games and 100% of myself after each incremental phase. I usually angrily stop playing them for a while and restart them again, so this is more or less a journal of addiction, I suppose. THE BEST GAMES I'VE PLAYED ARE THESE (no order):
Honorable Mention: Eggs, Inc The rest: more or less hated it Additional comment if you decide to scan through it, I complain a lot, so it is perfectly reasonable and normal to think, "why the fuck are you even playing these games, idiot??". ------ Time Idle RPG This game was confusing. It tells me the game's resources is time, where you get 1 of it every second, but that's not really something as unique as I assumed. It would have been cool if time as resources meant you used it to deal with something related to time. Maybe time travel? Maybe slowing and speeding time? Instead time as resource buys you stuff like a library. And then you buy a camp or something. Honestly, I wasn't really feeling it. 2 Path of Idling The biggest cardinal sin for me when it comes to incremental is when a game has a lot of features and it just completely throws them all at you instantly. The joy of a great incremental is how things slowly open up and each new achievement feels progress. The game is a RPG game and these are the things that opened up for me in the first few hours. Combat which includes normal fighting, dungeon, raid, boss, PVP (locked, but it just needs an ascend, which I haven't done) Skills Hero upgrades which include Passive (strength, defence, stamina, intelligence), Train, and a huge Tree Town which you can buy workers who get you various things like gold, orbs, knowledge, etc. You can upgrade stuff here. Quest that also includes Perks and Skill quests. Gear which 5 equipment slots, plus craft plus trade plus smelt Also gear for your Pet, which is also another tab! Now, here is the thing. Because I have all of this pretty much instantly, I don't really know which ones are helping me go past a well. How is adding 10 points in strength helping me? Should I have added five in strength instead and five in defence? I have already bought 20 or so upgrades in the Tree, but I have no idea if I am made the optimal choice. There is no real excitement with getting new gear. And so on. The dev has added a lot of features, now it's time to rework the game, and have the features take their time. 2 Idle Slayer The game is like a super simple platformer. Your character is running and any enemy it hits, it automatically slays it. There is no HP, and all enemies die in one shot. Your only active play is jumping occasionally to grab coins or hit the flying enemies. Also, you have a run skill that has a cool down. With the coins, we get new weapons that give us more coins. Enemies give us souls which is used for the prestige system that provides us with an interesting skill tree which provides a lot of choices on the path you want to do in terms of upgrades. So far excellent, however, the game has an extremely serious issue of pacing. The game initially progresses so fast that in the first hour or so, you get almost all the weapons aside from the last two, which then grinds down to a snail pace. You can upgrade your past weapons, but they never really get into play again. Reaching high levels of past weapons sometimes gave me upgrades of that weapon of 10,000% but they still did nothing to my overall coin per second. I think the pacing needs to be fully reworked. It would have been nice to get new weapons after certain prestige cycles, so that every new weapon feels like we have passed a significant wall. The best part of an incremental game for me is to face a wall, and when I finally break it, I feel powerful again for a while. This game feels like this though, powerful powerful powerful powerful WALL........break it....WALL. And so on. I'm still playing it as I want to get some of the skills, but I feel like it could have been so much better. 4 Exponential Idle A very back to the foundation kind of incremental. The premise is that you are a student and working on a formula. There is a neat story where as you progress in the game, your character progresses through university. Each upgrade gives you more and more automation until I reached a stage where I would check back once every 2 or 3 days, click a 2nd layer prestige reset, and close it. Meaning the game was something like 5 seconds of game player every 2 days. I just opened it for this review and realized I had reached the end game. The story wraps up and it tells me "You can take a rest. Travel a bit. Go outside!" NO, DON'T TELL ME WHAT TO DO GAME. 3 Factoid Factoid & Spark should have the same review as they are almost the same game with only small differences. The games are the most basic kind of incremental, where you buy something with resources, until you get the next thing which gives you more of the resources. Both give you upgrades to speed things up, and finally prestige and it's own prestige upgrades. That's it. It's nice little change of pace from all the recent incremental that sometimes do too much, but obviously due to the very simple nature of it, it does eventually feel pointless, specially after you more or less open up everything and the prestige upgrades just keep repeating. 3 Spark Factoid & Spark should have the same review as they are almost the same game with only small differences. The games are the most basic kind of incremental, where you buy something with resources, until you get the next thing which gives you more of the resources. Both give you upgrades to speed things up, and finally prestige and it's own prestige upgrades. That's it. It's nice little change of pace from all the recent incremental that sometimes do too much, but obviously due to the very simple nature of it, it does eventually feel pointless, specially after you more or less open up everything and the prestige upgrades just keep repeating. 3 Antimatter Dimensions Easily top 5 incremental on mobile. Does everything perfectly. You progress nicely, and when new features open it, not only is it rewarding but more importantly, it keeps adding new dimensions (lol) to the game. I'd at the end game as I write this, and I realize that there was no point in the game where it felt stale. Each new prestige layer made the game feel fresh and almost like a new incremental game. 5 Melvor Idle It seems this game was mainly aimed at Runescape players, which is probably why it didn't click for me. It also run extremely slow on my phone which also played a part in me not really getting into. 2 A Girl Adrift The animation is really pretty and is a nice change of pace for incrementals, but I didn't really like the too much active play. Really had to keep going back and forth to different areas to do the fishing which got too repetitive for me. You travel to different areas of the map to catch fish, which you get points and then you upgrade stuff, but I didn't really find any real excitement about the upgrades because I kept having to go back to previous areas to fish similar creatures. 3 Archer: Danger Phone I'm really annoyed how terrible of a game this was. Two things I like, the TV show "Archer" and incremental games, and it's done in the most lazy manner. The game is the worst aspect of idle games where it's just a straight path of clicking the next upgrade with absolutely zero decision making. Every once in a while there is a mini game where Archer gets to shoot others but it's done in the most basic form of early 2000s flash games, where the animation budget is probably 3 dollars. Same static background and both enemies and Archer have just two animation frames. The absolute laziness of it is almost insulting to the player, because it feels like we aren't even worth the effort. There is an Archer story in the game which develops really fast, which is the only positive part, but no voice acting is again another evidence that the creators of the game weren't given any budget for this. 1 Home Quest This game is way too slow. You have to collect materials to build your settlement but everything takes time, so you click for a few seconds, and then you have to leave the game. Which I'm fine with, but the problem isn't the idle part of it, it's how the idle part of it combines with constant checking of the game which annoys me. I like an idle game where you forget to start the game for a day, you come up to a lot of resources, but this is a game which needs you to check back in every 30 minutes or an hour to really get anywhere. I felt that the micromanagement was getting worse as I progressed (without any actual thing to do when I am active in the game) that made me give up. 2 Idle Industry This is probably an interesting game, but I gave up because the one thing I really disliked was the amount of resources and manufacturing that very quickly opens to you. You can buy raw materials, and you can either sell these raw materials or turn them into finished goods and sell them either. And each of these has several upgrade options (increase selling price, increase production, etc). Without even really getting too deep into the game, I have around 20 raw materials and around 30 finished products. A satisfying part of this genre is to have things slow open up for you, which gives me a decent feeling of satisfaction. But the money I got would quickly open up new products, so I would just jump ahead and purchase more expensive ones, and after a while I had a lot of materials and products at zero, and was instead focusing on latter ones. 2 Masters of Madness Somewhat neat atmosphere and visuals, but too much active clicking. Click, upgrade to get more per clicks, get minions to get you some points without clicking, typical clicker, but with the added benefit of almost no idling. I like idling incrementals but clickers is a hard no from me. 1 Soda Dungeon 2 Basically similar to the first one, as far as I could tell. I did "finish" it but maybe I shouldn't have, since it really is the same thing from early on, specially once you get all the heroes and you kind of sort out which characters work best, then it's just the same. But because it was somewhat short and no real wall, it was at least easy to stick to it to the end. 2 Bacterial Takeover Played for a decent amount and was actually more interesting that I thought, given the buttload of ad incentives. You create and upgrade bacteria, attack planets, and eventually go into a blackhole to prestige. Most of the game was good, but the part that killed it for me was the prestige system. Once you prestige, planets get super easy to attack, which becomes a lot of active play. I realized that each prestige was taking me at least 30 minutes to get to where I was, and it was just meaningless clicking. It got to a point where I was putting off prestige because it seemed like it would be a hassle so I stopped. 2 LogRogue Cute graphics. The hero sort of hopping to hit the tiny monsters is cute to look at, but how long can you look at it and do nothing before you realize that it's boring? I suppose this is a game where it's just not for me. I don't like to have my phone open on a game and just watch it like a crazy person and do nothing. My rule is simple for incrementals. While the app is open, be active, if there isn't any choices to make, close the app while resources build up or whatever. I don't like it being open while I do nothing. 3 A Kittens Game Incremental games are so strange. I get in and out of the phases. I loved this for so long and so obsessively that I wanted to only play incremental games. And then, just like that, I was wondering why the fuck I was wasting my time with this. Has happened countless times before. But still probably the best incremental ever. 5 A Dark Room An incremental cult classic of sorts but I don't find it really matches the genre. There is a bit of incremental at the beginning with people huts and stuff but then its just a ascii exploring game, which wasn't interesting to me. 2 Little Healer Saw it mentioned in the Reddit incremental forum in one of the posts and thought it was a healer themed incremental which sounded neat. But it's like being a healer in a raid in World of Warcraft without any if the extras. Just a couple of bars representing your team mates and you healing them while they fight the boss. I didn't even like playing the healer in WoW so no way would I play this game. 1 Clickie Zoo Started playing for a few days until I realized there a beta released with the dev reworking the game completely from scratch and releasing it as "Idle Zoo Tycoon". So, played that instead but this seemed like a game I would enjoy anyway. 4 Idling to Rule the Gods The UI and one drawing if your character is really ugly enough to be distracting to me. The game, seemed interesting and I eventually was into it, but seems like a game that has been constantly being updated, which is not always a good thing, because features are obviously updated regularly to it, making the whole thing a bit bloaty. I guess, this is the problem with this game for me, it's too fat. Also, one main part of the game is that your character creates Shadow Clones up to a maximum limit. Which is fine except the clones can't be made in offline mode. This might not be a big deal in its original web browser game but that doesn't work as well in a mobile format. 2 Realm Grinder This is one of the really popular incremental and it's fanbase seems to love it for it's depth, but to be honest, I don't play these games for the depth, I play it for the simple dopamine rush of doing the same thing over and over again. It relaxes. Although, I didn't even get to the depth part because I dislike games where it rushes in the beginning. I constantly bought buildings, got spells, and got upgrades without even looking at the description. Apparently, later on, we can get complicated race upgades, which seems not what I'm looking for in such a genre. 2 Spaceplan A short (!!) incremental with an actual story (!!!). That's two cool points for it but unfortunately, the game mechanics of increment genre isn't so good. It's a space game with nice visuals and a great ending (cool music set to cool graphics) but the game itself wasn't really that fun. This same exact game would have been better in a different genre (maybe something like "Out There"?) 3 Zombidle Felt like idle games again and this is the kind of examples that kept me away. Too much clicking and seems like advancement will start to get irritating since it relies on IAPs 2 Eggs, Inc While I was playing it, Eggs, Inc was probably my favorite Android game I had ever played. But like most incremental games, there comes a moment when I suddenly stop and think, what am I doing? Because there is something fascinating about Incrementals. Their addictiveness is in a way the whole point. An incremental is less of a game and more an act of electronic addictiveness. What's the point? Eggs, Inc is a very well made and fun incremental but even the best in its genre is still pointless. 4 Castle Clicker Supposedly a mix of incremental and city building but didn't really find out since the clickings were way to much. I know this is supposed to be the genre but I like the incremental part more than the tapping part. This seemed to be a good way to hurt your fingers. 2 Endless Era This RPG clicker game is like other such games but with horrible GUI and animations. Tap tap tap. It's my fault for downloading such games. Why would I ever think this would be fun??? 1 Idle Quote An incremental game with a unique twist. This time we get to make up quotes! The first negative about the game and this irritates me a lot is most of the quotes are fake. A quick search on Google and this proves it. Quotes are generally attributed to Buddha or Ghandi or shit like that and it's usually fake like most quotes on the internet. This kills the major possible advantage of the game because I thought coming up with arbitrary words would at least give me some quotes to learn. Aside from the this, the game isn't fun either because it slows down very quickly meaning you combine words very slowly at a certain stage of the game and then it becomes a boring grind. 2 Monster Miser An incremental game with almost no graphics. We just see character portraits of monsters which we buy and then upgrade until we buy the next monster. Eventually we prestige which gives us multipliers. The only game choice is choosing between two monsters with each new monster with unique benefits. Annoyingly there is a max limit which I wish didn't exist because I wanted to prestige so much that I would be over powerful in upgrading like that "Idle Oil Tycoon". Still, pointless but reasonably fun. 3 Pocket Politics An incremental take on politics sounds fun but it's so generic that it could have been about anything. A Capitalist idle game or a cooking idle game, it wouldn't matter. IAP was also the usual shitty kind. 1 Time Clickers A shooter incremental sounds like a cool twist but it's not a FPS like I imagined it would be. I'm just stuck in a room and I was shooting blocks. Upgrades didn't give me any enjoyment since I was shooting fucking blocks. 1 Tap Tap Fish - Abyssrium I thought this was going to be relaxing incremental but the ridiculous and generic IAPs and all the social integeration spoil it. Too much time is spent in them asking you to buy or share or tweet or post or give them a blowjob. And there is nothing relaxing about that. 2 Cartoon 999 Incremental game about comic book writers, but not the marvel DC kind, it seemed to be the webcomic one and I think it's a Korean developer so all the characters and injokes made no sense to me. The whole thing was just targeted to a very specific audience. 2 Dungeon Manager Incremental games need to be simple but this is beyond simple, it's just upgrade a fighter to level 5, go to next dungeon character, do the same, and just continue without any of the delicious balancing of upgrades like other idle games. 2 Final Fortress Incremental games are already pointless but when it's super heavy on IAP than its also annoying, but when it always has bugs that doesn't register my offline earnings, then it just needs a uninstall in its face. The zombie skin was also crappy. 1 Mana Maker Here is how I know this clicker isn't very good. It doesn't make me hate all clickers and my life and mobile gaming in general for being so addictive and pointless. So fail, sorry. 2 Infinity Dungeon The usual incremental RPG that I should probably never play again. Starts simple enough and then gets more or a chore as you play. 1 Another incremental game which I had promised myself not to play anymore because they are so pointless and repetitive and endless. Well, this wasn't infinite and had a goal at 999 level so I thought it was good but while the humor was cute, the game did become very repetitive. Every 10 levels the slimes changed but after every 100 levels the whole thing restarted and while the monsters got stronger, I seemed to get even stronger. So the game became easier as I progressed and there was no more challenge. By level 800, I gave up. 2 Tap Dungeon RPG Okay, I'm running out of ways to complain about those incremental RPG games that all have similar problems. It starts off reasonably fast and fun but soon it seems like I am in a data entry job. Doing the same thing over and over again with little changes. 1 Dungeon 999 F: Secret of Slime Dungeon Another incremental game which I had promised myself not to play anymore because they are so pointless and repetitive and endless. Well, this wasn't infinite and had a goal at 999 level so I thought it was good but while the humor was cute, the game did become very repetitive. Every 10 levels the slimes changed but after every 100 levels the whole thing restarted and while the monsters got stronger, I seemed to get even stronger. So the game became easier as I progressed and there was no more challenge. By level 800, I gave up. 2 Tap Dungeon RPG Okay, I'm running out of ways to complain about those incremental RPG games that all have similar problems. It starts off reasonably fast and fun but soon it seems like I am in a data entry job. Doing the same thing over and over again with little changes. 1 Tower of Hero You start on the first floor of the tower and keep fighting your way up by summoning your heroes (by clicking) and recruiting other fighters, get upgrades, level up, and then, ugh, here is the typical incremental RPG part, restart, get items, and do it ALL over again. There is something fun about restarting and getting slowly stronger each time but it also feels so pointless after a while. Such a pointless genre now that I have played a billion of such titles, heh. 3 Pageboy Yet another incremental RPG which I have no idea why I downloaded because I'm sick of the genre. I played a pageboy to a knight who does the fighting while I collect the lot. I collect the loot, buy stuff for the knight, and eventually I restart to do the same thing again and get better items but this game I didn't even RESTART! Because fuck it! Fuck it! 2 Idle Warriors The story is cute. Human population is regressing while monster population is on the rise. So the humans start enslaving monsters to mine for them! The brave warriors beat the crap out of monsters, kidnap the bosses, and enslave them. The animation of monsters slaving away while speech balloons above them talk about their wife and children is funny. But the game itself is another RPG incremental which I should start staying away from. These games are like a chore for me nowadays because I'm doing the same crap again and again. The blame is probably on me because it seems like a reasonably solid game. But hey, fuck it, I PERSONALLY didn't enjoy it. 2 Tap! Tap! Faraway! Any game that is remotely like Tap Titan scares me. They are addictive at first and very fast moving but after every restart gets more and more annoying. It soon turns into a time eating activity with the player having to redo the initial levels to get relics to get better items to progress further to restart to get relics to and so on until the player realizes how much time he is putting in the game for a repetitive activity. 2 Auto RPG Now that is a title the game developers didn't spend too much time on. RPG battles are automatic but I can help out by clicking like a mad man. I started with one hero but would get additional members in my party as the story progressed. Party members receive skills as as they level up and while all the skill usage is automatic, it did give me a sense of progression which is extremely important in a RPG and which I think is usually lacking in incremental games. It usually starts feeling useless but in this game at least there are new maps, new members, and an actual end sight! There is an infinity stage once the last boss is defeated but I am glad the infinity stage happens AFTER the end and it's not the game itself. 4 Merchant Hire a hero and send on to battle. The battles is done automatically and takes time, starts with something short like 10 seconds with each battle taking longer. The loot is raw materials which can be used to craft equipment which also takes real life time with better items taking longer. The crafted items can either be sold or equipped to the hero to make him be able to fight stronger monsters. I was worried I would hate the longer crafting and fighting times because I hate games which I have to watch for a task to finish but even though the durations for longer, I had more to do. However, I don't know what would have happened in the end game because I gave up on it. New maps were exactly like the first map just with different heroes but the progression was similar in each level which felt that I was doing the exact same thing all over again but with longer task times. 2 Idle Oil Tycoon This is the best idle game I played. It's graphics aren't just minor, they are none existent. It's just numbers, so basic that my sister thought I was on a stock market app. It's such a simple concept. Invest, get oil, upgrade then like other idlers restart to get a bonus and do the full thing all over again. When I finished the game, I played the unlimited mode which I played until the unlimited mode couldn't handle the numbers anymore. 5 Soda Dungeon This kind-of Idle Dungeon was great. I started with weak ass fighters who would fight on my behalf while I collected the loot. I then got to use the lot to upgrade the sofa bar to recruit more adventurers. Not sure why it was a sofa bar. Maybe they wanted to make it a family game and not have alcohol? Sounds weird but the sofa element in a RPG game sounds weirder. The game only hit a brick for me when, like most other incremental games, there is no real closure. Once I thought I bet the big bad guy, it just goes on, harder but similar enough with no end in sight. Eventually, we have to stop playing right, but it always feels a bit like a let down when I don't feel like I have finished the game. 4 10 Billion Wives Kept Man Life The two games from this company, 10 Billion Wives and Kept Man Life, have similar strengths and weaknesses. I liked the silly premises from both. In 10BM, I had to get married as much as I could, using the loves I collect to marry more expensive wives! In KML, I'm a boyfriend who doesn't work and I have to please my career gf so she would take care of me. Both start reasonably fast and I was willing to grind through difficult parts but the end game is like a brick wall. Passing through it to get all the achievements is pretty much impossible unless one puts in way too many hours. And it's a shame because I really wanted to get all the achievements to see all the tiny little extra stuff. 3 Adventure Capitalist One of the better incremental games, but now that I am out of the short lived incremental fan phase, I realized how dumb the genre is. Tap, tap, tap, upgrade, do this a million times, reset, and do it all over again like a moron. The game does deserve credits for me acting like a moron and playing it for so long but I also cheated and got free cash and then if occupying became even more pointless. 3 The Monolith A combination of an incremental and a civilization building game seemed like an excellent idea and in some ways, it was, specially how we get to upgrade through the ages from cavemen to futuristic. But no offline feature means that the resets aren't enticing. 2 USSR Simulator An incremental game that has a great theme (USSR!) but absolutely horrible to enjoy, even though I did stick to it. After a certain upgrades, the game just turned into me popping in the game, clicking an upgrade and then forgetting about the game for a few days. 2 RPG Clicker They should call these games tappers not clickers. We are not clicking anything on a touchscreen device. Anyway, tap tap tap level up buy weapons tap tap and uninstall. 1 Logging Quest Logging Quest 2 [Review is for the original and its sequel] There is not much of a difference between the game. I actually played them both at the same time because the actual game is offline. You choose your hero, send them to a dungeon, and then come back to the game after a while to see how well they did. I thought an offline RPG like this might be interesting but then, if you don't really play a game, how much fun can it be? 1 Another pointless incremental. I was in an incremental phase and got so many incremental games that I know realize were absolutely pointless. Hit a tree, buy upgrades, get a new hero, and continue hitting a tree. Not much offline it seems which is what I like about incrementals. 1 Galaxy Clicker A space incremental that should have been a lot of fun. You get to upgrade your spaceship and buy new ones and explorer new planets. But first of all, the interface is so ugly that it makes playing the game less enjoyable. And a lot of things I didn't really get no matter how much I would play like the full exploring planets. The spaceships were nice, so it could have been fun. 2 Megatramp A pretty pointless incremental kind of game. You are a tramp and then you can collect money to buy upgrades to make more money, with no strategy needed, nor any effort needs to be made to hurt your brain cells. 1 Inflation RPG It supposed to be some kind of incremental RPG, I think, which has you resetting and getting more powerful and then fighting monsters to get insane levels. It is very unique but I couldn't get into it. 2 Widget RPG Are you fucking with me? This is button bashing rpg in the most extreme manner. You get a widget, so you don't even have to open the game and distract yourself from the button bushing. Just click the button and the game plays behind the scenes and gets you experience, loot, and kills. It's a ridiculous idea that is fun for a few minutes to see what they come up with but there is only so much button bashing you can do. 2 Capitalist Tycoon I downloaded this game because I was in an incremental/idle game phase and really enjoyed AdVenture Capitalist. But this game is nothing like that. On the surface, it seems similar, buy small investments, make money, buy bigger investments, and so on. But with this game, there is no offline mode, and you keep having to wake up managers, AND the goal is to see how much you make in one year. Bah. I prefer the incremental approach which makes you build and build and build, not try to rush it in just a year. 2 Clicking Bad An incremental clicking game that is themed after Breaking Bad. It is a fun idea it's a very simple game with little to do aside from the obvious of upgrading and upgrading. The only twist might be to balance out making lots of money selling drugs and not attracting the law but even that is only a small challenge at the start. Eventually, you will get enough upgrades to bring the law risk so down that it makes no impact on the game play. 2 Zombie Tapper A super basic incremental clicker game with a zombie team. Click click click to eat brains, use brains (?) to buy zombies to do the brain eating for you and then buy upgrades for your zombies, and buy new zombies and it all feels very pointless. 1 Bitcoin Billionaire I started to enjoy incremental games, but it needs to have a good offline mode, because I don’t want to just play a game where I keep tapping. But that doesn’t mean I didn’t play. I played it, and I played a lot of it, because I could reset the game (like most incremental games) and it gives you a small benefit where you could finish the full game a bit faster (it gives you bonus income). So, I kept finishing and resetting, and each time the start to finish would shorten, so I thought I would reach a stage where I could finish each start-to-finish in an instant! It didn’t happen. I got bored first. 3 Tap Titan An addictive tapping game. Just tap on the creatures, level up, get new skills, hire heroes, and then reset and to it all over again to progress further. It’s an incremental game where it depends on resets to progress, but no real offline bonus, so you have to be playing online. Which got boring, so I installed an app that does the tapping for me, which is actually a stupid way to play the game, but this isn’t an attempt to prove to anyone my intelligence. Anyway, thankfully something went wrong and my progress got deleted, WHICH WAS A GOOD THING, because the game was extremely addictive. 4 God Squad I’ve realized most incremental games are stupid. Tap on monsters to kill, collect gold, buy Roman Gods, level them up, fight other monsters, and then get bored. 1
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https://infograins.com/services/blockchain-development-company/ Tips to launch a successful bitcoin exchange Bitcoin and other cryptocurrencies have created a buzz in the financial market. Those who invested in cryptocurrencies at the initial stages are now reaping its benefits. More people choose to launch a bitcoin exchange rather than directly investing in bitcoins since the former is deemed a safer way of making profits. Like many people launching their bitcoin exchange platforms, if you are thinking how you can build your own bitcoin exchange website, here are a few tips that can help you in your business venture. Secure legal clearance When it comes to launching a bitcoin exchange, different regulatory guidelines are required to be taken care of. You need to acquire proper licensing, adhere to KYC (Know Your Customer) regulations and handle various legal aspects like this. To ensure that you do not end up facing any legal problem in future, hire a team of legal experts who have in-depth knowledge of this domain. Raise adequate funding Before you begin to build your own bitcoin exchange website, you need to have a clear idea about the cost involved in the project. You will be required to invest in technology, hosting, advertising and licensing. Although you need not fund the entire project upfront, sufficient funding helps you to be sure of smooth flow of money whenever necessary. Find a reliable technology solution provider One of the major concerns of most people when it comes to investing in cryptocurrencies is security. It is extremely essential that you work with a team of reliable developers who can provide you a highly-secure and user-friendly exchange platform that allows safe and easy transactions. Look for a company that has the experience and expertise to develop secure applications. Connect with other exchanges One of the factors to influence the success of any bitcoin exchange is its liquidity. The absence of any trading activity or order book means that your target audience is more likely to consider you as fraud. Thus, to establish yourself as a trusted exchange, connect with the network of other exchanges. The larger the network, the better it will be for your business. Partner with a payment processor With a large number of bitcoin exchanges competing for recognition, you need to have the lowest rate of transaction to be successful. Some processors charge hidden fees, so understand the contract clearly prior to signing it. Make it secure Once you decide to build your own bitcoin exchange website, make sure that you rely on the best security measures. User authentication, encrypted database, KYC verification are a few measures that can be taken to build a secure exchange, which is hard for cyber criminals to break through. Embrace beta testing After successful development of bitcoin exchange, it is time to launch it. Make sure that you simultaneously test the capabilities of your website by using beta testing. Marketing your website If you search for a bitcoin exchange, you are sure to come across a plethora of options, so how would you make your exchange stand out? Well, the answer is – through proper marketing. Right from the time you decide to build your own bitcoin exchange website, ascertain to have a pre-launch and post-launch digital marketing plan in place so that you create enough awareness about your business among your target audience. If you do not know much about digital marketing or how you can leverage it to spread the word about your exchange, professional help is always advisable. Focus on customer support The success of any business depends on customer satisfaction. Once you have launched your bitcoin exchange, there can be many instances when your users require you to answer the queries that they might have. Get a dedicated team, who provides necessary support to your users round the clock, and replies to their queries on time. Have a legal team to support you In addition to helping you to maintain legal compliance, a dedicated legal team will assist you to settle disputes. Make sure that the professionals you choose to build your team are competent in handling foreign jurisdictions’ cases, too. GET DEMO Other Blockchain Casestudies www.infograins.com
Build Your Own Blockchain Based Crypto Exchange Website
https://infograins.com/services/blockchain-development-company/ Tips to launch a successful bitcoin exchange Bitcoin and other cryptocurrencies have created a buzz in the financial market. Those who invested in cryptocurrencies at the initial stages are now reaping its benefits. More people choose to launch a bitcoin exchange rather than directly investing in bitcoins since the former is deemed a safer way of making profits. Like many people launching their bitcoin exchange platforms, if you are thinking how you can build your own bitcoin exchange website, here are a few tips that can help you in your business venture. Secure legal clearance When it comes to launching a bitcoin exchange, different regulatory guidelines are required to be taken care of. You need to acquire proper licensing, adhere to KYC (Know Your Customer) regulations and handle various legal aspects like this. To ensure that you do not end up facing any legal problem in future, hire a team of legal experts who have in-depth knowledge of this domain. Raise adequate funding Before you begin to build your own bitcoin exchange website, you need to have a clear idea about the cost involved in the project. You will be required to invest in technology, hosting, advertising and licensing. Although you need not fund the entire project upfront, sufficient funding helps you to be sure of smooth flow of money whenever necessary. Find a reliable technology solution provider One of the major concerns of most people when it comes to investing in cryptocurrencies is security. It is extremely essential that you work with a team of reliable developers who can provide you a highly-secure and user-friendly exchange platform that allows safe and easy transactions. Look for a company that has the experience and expertise to develop secure applications. Connect with other exchanges One of the factors to influence the success of any bitcoin exchange is its liquidity. The absence of any trading activity or order book means that your target audience is more likely to consider you as fraud. Thus, to establish yourself as a trusted exchange, connect with the network of other exchanges. The larger the network, the better it will be for your business. Partner with a payment processor With a large number of bitcoin exchanges competing for recognition, you need to have the lowest rate of transaction to be successful. Some processors charge hidden fees, so understand the contract clearly prior to signing it. Make it secure Once you decide to build your own bitcoin exchange website, make sure that you rely on the best security measures. User authentication, encrypted database, KYC verification are a few measures that can be taken to build a secure exchange, which is hard for cyber criminals to break through. Embrace beta testing After successful development of bitcoin exchange, it is time to launch it. Make sure that you simultaneously test the capabilities of your website by using beta testing. Marketing your website If you search for a bitcoin exchange, you are sure to come across a plethora of options, so how would you make your exchange stand out? Well, the answer is – through proper marketing. Right from the time you decide to build your own bitcoin exchange website, ascertain to have a pre-launch and post-launch digital marketing plan in place so that you create enough awareness about your business among your target audience. If you do not know much about digital marketing or how you can leverage it to spread the word about your exchange, professional help is always advisable. Focus on customer support The success of any business depends on customer satisfaction. Once you have launched your bitcoin exchange, there can be many instances when your users require you to answer the queries that they might have. Get a dedicated team, who provides necessary support to your users round the clock, and replies to their queries on time. Have a legal team to support you In addition to helping you to maintain legal compliance, a dedicated legal team will assist you to settle disputes. Make sure that the professionals you choose to build your team are competent in handling foreign jurisdictions’ cases, too. GET DEMO Other Blockchain Casestudie www.infograins.com
AMM + Limit Order, Will OneSwap Replace Traditional Exchange?
When a thing is denied, something new starts at a higher level. The update and iteration of the currency circle takes only a few days. On August 13, Yam, the token of a popular DeFi project, plummeted by 98%, while YFI, another DeFi cryptocurrency, outran the digital currency Bitcoin Gold by value under capital operation. According to their familiarity with DeFi, blockchain investors in 2020 can be divided into two categories. The "New" investors are active in DEXs such as UniSwap and Balancer, striving for hundredfold returns on investment amid fake projects, while the "old" investors stick to mainstream cryptocurrencies and advocate value investment in the three major CEXs. Despite its long history, DEX did not prosper until recently. It has processed transactions of over US$520 million in the past 24 hours, and the trading volume for the past week has exceeded the figure across 2019. But still, many people are stranger to DEX. I.Will DEX shuffle the existing trading market? Upon discovering something new, you can describe it, but never evaluate it superficially. UniSwap occupies 55% of the entire DEX market. Celebrities in the circle enjoy discussing the changes brought by UniSwap on social media and how it will change the existing trading landscape. On August 5, Jay, CEO of OKEX Exchange, publicly stated that "UniSwap can hardly replace the current mainstream exchanges." on Weibo. He also listed two reasons:
With insufficient transaction depth, UniSwap cannot support large transactions;
UniSwap cannot set prices independently, but has to follow the prices set by other exchanges.
The power players of consumer finance in the 21st century will be crypto-native companies who build with blockchain technology at their core.
The crypto landscape is still nascent. We’re still very much in the fragmented, unbundled phase of the industry lifecycle. Beyond what Genesis Block is doing, there are signs of other companies slowly starting to bundle financial services into what could be an all-in-one bank replacement. So the key question that this series hopes to answer:
Which crypto-native company will successfully become the bank of the future?
We obviously think Genesis Block is well-positioned to win. But we certainly aren’t the only game in town. In this series, we’ll be doing an analysis of who is most capable of thwarting our efforts. We’ll look at categories like crypto exchanges, crypto wallets, centralized lending & borrowing services, and crypto debit card companies. Each category will have its own dedicated post. Today we’re analyzing big crypto exchanges. The two companies we’ll focus on today are Coinbase (biggest American exchange) and Binance (biggest global exchange). They are the top two exchanges in terms of Bitcoin trading volume. They are in pole position to winning this market — they have a huge existing userbase and strong financial resources. Will Coinbase or Binance become the bank of the future? Can their early success propel them to winning the broader consumer finance market? Is their growth too far ahead for anyone else to catch up? Let’s dive in. https://preview.redd.it/lau4hevpm7f51.png?width=800&format=png&auto=webp&s=2c5de1ba497199f36aa194e5809bd86e5ab533d8
The most formidable exchange on the global stage is Binance (Crunchbase). All signs suggest they have significantly more users and a stronger balance sheet than Coinbase. No other exchange is executing as aggressively and relentlessly as Binance is. The cadence at which they are shipping and launching new products is nothing short of impressive. As Tushar Jain from Multicoin argues, Binance is Blitzscaling. Here are some of the products that they’ve launched in the last 18 months. Only a few are announced but still pre-launch.
Binance is well-positioned to become the crypto-powered, all-in-one, bundled solution for financial services. They already have so many of the pieces. But the key question is:
Can they create a cohesive & united product experience?
Binance is strong, but they do have a few major weaknesses that could slow them down.
Traders & Speculators Binance is currently very geared for speculators, traders, and financial professionals. Their bread-and-butter is trading (spot, margin, options, futures). Their UI is littered with depth charts, order books, candlesticks, and other financial concepts that are beyond the reach of most normal consumers. Their product today is not at all tailored for the broader consumer market. Given Binance’s popularity and strength among the pro audience, it’s unlikely that they will dumb down or simplify their product any time soon. That would jeopardize their core business. Binance will likely need an entirely new product/brand to go beyond the pro user crowd. That will take time (or an acquisition). So the question remains, is Binance even interested in the broader consumer market? Or will they continue to focus on their core product, the one-stop-shop for pro crypto traders?
Controversies & Hot Water Binance has had a number of controversies. No one seems to know where they are based — so what regulatory agencies can hold them accountable? Last year, some sensitive, private user data got leaked. When they announced their debit card program, they had to remove mentions of Visa quickly after. And though the “police raid” story proved to be untrue, there are still a lot of questions about what happened with their Shanghai office shut down (where there is smoke, there is fire). If any company has had a “move fast and break things” attitude, it is Binance. That attitude has served them well so far but as they try to do business in more regulated countries like America, this will make their road much more difficult — especially in the consumer market where trust takes a long time to earn, but can be destroyed in an instant. This is perhaps why the Binance US product is an empty shell when compared to their main global product.
Disjointed Product Experience Because Binance has so many different teams launching so many different services, their core product is increasingly feeling disjointed and disconnected. Many of the new features are sloppily integrated with each other. There’s no cohesive product experience. This is one of the downsides of executing and shipping at their relentless pace. For example, users don’t have a single wallet that shows their balances. Depending on if the user wants to do spot trading, margin, futures, or savings… the user needs to constantly be transferring their assets from one wallet to another. It’s not a unified, frictionless, simple user experience. This is one major downside of the “move fast and break things” approach.
BNB token Binance raised $15M in a 2017 ICO by selling their $BNB token. The current market cap of $BNB is worth more than $2.6B. Financially this token has served them well. However, given how BNB works (for example, their token burn), there are a lot of open questions as to how BNB will be treated with US security laws. Their Binance US product so far is treading very lightly with its use of BNB. Their token could become a liability for Binance as it enters more regulated markets. Whether the crypto community likes it or not, until regulators get caught up and understand the power of decentralized technology, tokens will still be a regulatory burden — especially for anything that touches consumers.
Binance Chain & Smart Contract Platform Binance is launching its own smart contract platform soon. Based on compatibility choices, they have their sights aimed at the Ethereum developer community. It’s unclear how easy it’ll be to convince developers to move to Binance chain. Most of the current developer energy and momentum around smart contracts is with Ethereum. Because Binance now has their own horse in the race, it’s unlikely they will ever decide to leverage Ethereum’s DeFi protocols. This could likely be a major strategic mistake — and hubris that goes a step too far. Binance will be pushing and promoting protocols on their own platform. The major risk of being all-in on their own platform is that they miss having a seat on the Ethereum rocket ship — specifically the growth of DeFi use-cases and the enormous value that can be unlocked. Integrating with Ethereum’s protocols would be either admitting defeat of their own platform or competing directly against themselves.
The crypto-native company that I believe is more likely to become the bank of the future is Coinbase (crunchbase). Their dominance in America could serve as a springboard to winning the West (Binance has a stronger foothold in Asia). Coinbase has more than 30M users. Their exchange business is a money-printing machine. They have a solid reputation as it relates to compliance and working with regulators. Their CEO is a longtime member of the crypto community. They are rumored to be going public soon.
Let’s look at what makes them strong and a likely contender for winning the broader consumer finance market.
Different Audience, Different Experience Coinbase has been smart to create a unique product experience for each audience — the pro speculator crowd and the common retail user. Their simple consumer version is at Coinbase.com. That’s the default. Their product for the more sophisticated traders and speculators is at Coinbase Pro (formerly GDAX). Unlike Binance, Coinbase can slowly build out the bank of the future for the broad consumer market while still having a home for their hardcore crypto traders. They aren’t afraid to have different experiences for different audiences.
Brand & Design Coinbase has a strong product design team. Their brand is capable of going beyond the male-dominated crypto audience. Their product is clean and simple — much more consumer-friendly than Binance. It’s clear they spend a lot of time thinking about their user experience. Interacting directly with crypto can sometimes be rough and raw (especially for n00bs). When I was at Mainframe we hosted a panel about Crypto UX challenges at the DevCon4 Dapp Awards. Connie Yang (Head of Design at Coinbase) was on the panel. She was impressive. Some of their design philosophies will bode well as they push to reach the broader consumer finance market.
Early Signs of Bundling Though Coinbase has nowhere near as many products & services as Binance, they are slowly starting to add more financial services that may appeal to the broader market. They are now letting depositors earn interest on USDC (also DAI & Tezos). In the UK they are piloting a debit card. Users can now invest in crypto with dollar-cost-averaging. It’s not much, but it’s a start. You can start to see hints of a more bundled solution around financial services.
Let’s now look at some things that could hold them back.
Slow Cadence In the fast-paced world of crypto, and especially when compared to Binance, Coinbase does not ship very many new products very often. This is perhaps their greatest weakness. Smaller, more nimble startups may run circles around them. They were smart to launch Coinbase Ventures where tey invest in early-stage startups. They can now keep an ear to the ground on innovation. Perhaps their cadence is normal for a company of their size — but the Binance pace creates quite the contrast.
Institutional Focus As a company, we are a Coinbase client. We love their institutional offering. It’s clear they’ve been investing a lot in this area. A recent Coinbase blog post made it clear that this has been a focus: “Over the past 12 months, Coinbase has been laser-focused on building out the types of features and services that our institutional customers need.” Their Tagomi acquisition only re-enforced this focus. Perhaps this is why their consumer product has felt so neglected. They’ve been heavily investing in their institutional services since May 2018. For a company that’s getting very close to an IPO, it makes sense that they’d focus on areas that present strong revenue opportunities — as they do with institutional clients. Even for big companies like Coinbase, it’s hard to have a split focus. If they are “laser-focused” on the institutional audience, it’s unlikely they’ll be launching any major consumer products anytime soon.
Coinbase Wrap Up
At Genesis Block, we‘re proud to be working with Coinbase. They are a fantastic company. However, I don’t believe that they’ll succeed in building their own product for the broader consumer finance market. While they have incredible design, there are no signs that they are focused on or capable of internally building this type of product. Similar to Binance, I think it’s far more likely that Coinbase acquires a promising young startup with strong growth.
Other US-based exchanges worth mentioning are Kraken, Gemini, and Bittrex. So far we’ve seen very few signs that any of them will aggressively attack broader consumer finance. Most are going in the way of Binance — listing more assets and adding more pro tools like margin and futures trading. And many, like Coinbase, are trying to attract more institutional customers. For example, Gemini with their custody product.
Coinbase and Binance have huge war chests and massive reach. For that alone, they should always be considered threats to Genesis Block. However, their products are very, very different than the product we’re building. And their approach is very different as well. They are trying to educate and onboard people into crypto. At Genesis Block, we believe the masses shouldn’t need to know or care about it. We did an entire series about this, Spreading Crypto. Most everyone needs banking — whether it be to borrow, spend, invest, earn interest, etc. Not everyone needs a crypto exchange. For non-crypto consumers (the mass market), the differences between a bank and a crypto exchange are immense. Companies like Binance and Coinbase make a lot of money on their crypto exchange business. It would be really difficult, gutsy, and risky for any of them to completely change their narrative, messaging, and product to focus on the broader consumer market. I don’t believe they would ever risk biting the hand that feeds them. In summary, as it relates to a digital bank aimed at the mass market, I believe both Coinbase and Binance are much more likely to acquire a startup in this space than they are to build it themselves. And I think they would want to keep the brand/product distinct and separate from their core crypto exchange business. So back to the original question, is Coinbase and Binance a threat to Genesis Block? Not really. Not today. But they could be, and for that, we want to stay close to them. ------ Other Ways to Consume Today's Episode:
Prompt: In a post apocalyptic wasteland you miraculously find an ancient but fully functional computer. Unfortunately it can only perform one task.
It always felt to me like characters in post apocalyptic books or movies spent the majority of their time endlessly lamenting all the things they miss the most about their previously highly advanced civilization. Usually the answers would revolve around lost luxuries. A perfectly cooked gourmet steak perhaps? Maybe a relaxing spa day? Or the simple ability to fly from one end of the earth to another in a matter of hours, but now that I’m living it, do you know what I miss doing the most? Anything. Anything at all, really. As I’ve wandered the endless wastelands, I longed to find moments that were new, or different, or even remotely intellectually stimulating. Throughout the several decades since the Great Collapse, my days were depressingly repetitive. I scrounged for food and scrap among the ruins of once great cities. I scoured neighborhoods for any sign of other survivors, without success. I took shelter wherever I could, and tried desperately to entertain myself by batting a ball of twine around... like a goddamn bored house cat. Tom Hanks at least had a volleyball best friend when he was lost and alone in Castaway. I hadn't even been that lucky, I’ve yet to meet a ball of any kind with any notable personality. It's in that context of sheer boredom and lack of mental stimulation that I made my shocking discovery. Buried within the depths of a generic looking office building I found a computer. A computer that would have already been considered ancient by the time of The Collapse, I only recognized the giant bulky metal box from pictures and history lessons. With no expectation of it being in working order, I flipped the switch and to my shock and amazement, the dusty and weathered monitor lit right up! It displayed a simple black and white message: Wikipedia: Offline Version. What the— can this possibly be real? The memories of endless hours I’d spent going down "Wikipedia holes" came flooding back to me. I didn't believe it as I clicked the screen to begin, but against all odds, this indeed seemed to be a fully functional version of Wikipedia. Granted, it was horribly out of date, with articles and edits ending about a decade prior to the collapse, but to me, these 'out of date' pages were still absolute manna from heaven. I scrolled to the page for the Theory of Relativity and pumped my fist in the air when it loaded. I could garner great knowledge from the millions of pages of scientific information contained within Wikipedia. This wasn’t a purely intellectual curiosity. I don't remember half the crap I was taught in high school science classes, but with the help of this database, maybe I could figure out how to create metal tools, or make my own healing salves... or soap... God, I'd kill for a nice soapy bath and the feeling of being actually clean for the first time in years. Between reading up on ancient Roman construction techniques and improvised methods employed by the castaways on the TV show Gilligan's Island, I convinced myself that I could make myself a basic aqueduct system to capture and transport fresh rainwater... and maybe even build a radio out of a coconuts. Okay maybe that's a stretch, but the possibilities felt endless at the moment! Finally, I held my breath as I readied myself for the final test of this archival database. When Kylie Jenner's page popped up, I nearly wept with joy. The 'Personal Life' section of every famous person I tested was still totally intact. Look, don’t judge me until you’ve been in my tattered shoes! Some minuscule form of trashy, vain, useless celebrity gossip had returned to my life and I felt blessed beyond belief. As I visited page after page for hours on end, a strange message eventually popped up. Please Read: A Personal Appeal from Wikipedia Founder Jimmy Wales. I chuckled to myself. I remembered these fundraising messages that used to show up once a year! Even this felt a tad nostalgic in the moment. It was fairly absurd that these messages had been left in the 'offline' version, but they were harmless enough... right up until they weren't. I browsed constantly for weeks on end, until the 'personal appeals' ended and the personal insults began. Dear Reader, You are in the 99.9th percentile of hours spent browsing by Wikipedia users this month and you have not donated or even read our master's personal appeal? Are you a monster? Please read NOW and help keep Wikipedia free. Apparently Offline Wikipedia had become somewhat sentient and was tired of what it perceived as my freeloading bullshit? Still, at least I was able to close the message and continue on my journey through knowledge and information long since forgotten by our post apocalyptic society. That all changed on my 30th day of consecutive Wikipedia addiction. The screen went completely blank as I was neck deep in the bizarre, incestuous, backstabbing thousand year history of the British Royal Family. I hit every button imaginable, but Wikipedia seemed to be on it's own timetable. Finally, a full screen message appeared. Dear Nightmare Garbage Person, you MUST read this message from my master before continuing. I clicked it, and read the generic appeal, but there was no way to close it out. Only one button appeared active, "Donate now". With great trepidation, I clicked it and sure enough, an old school donation window appeared. I clicked on $100 praying it would just assume I had the money or that currency even still existed, but no such luck. "Choose your payment method" was the response to my monetary selection. I flew into a frustrated rage as I read the options. Credit cards don't exist! Even the physical cards I’d once had were long since melted down to make spoons or other basic tools! PayPal? Does this stupid Wikipedia bot think that PayPal servers are still in operation somewhere out there in the wasteland?! I cackled with sheer madness as I my eyes reached the final option. BITCOIN? My laughter was endless and uncontrollable. The attempted, and horribly botched, switch over to an all BitCoin based economy by our dumbass 23 year old president had been the first domino to topple over in a chain reaction of events that lead to the end of human civilization. The irony was so rich in so many ways. I clicked every donate button I could find for days on end, praying it would finally let me back in, but it was becoming increasingly obvious that I was completely and permanently locked out of the system. It was in these moments that I finally allowed myself to consider the possibility that I was already dead and being tortured for my sins, because being this tantalizingly close to all the human knowledge in existence, but being unable to access it, felt like I was already in hell.
Since my previous post about my vision of the future has garnered some attention and discussion, I thought it would be good to discuss the first part of the vision in deeper depth as it created a lot of discussion of its probability of becoming reality. I will break it down as much as I can. I will like to note that I am doing this because if you have this knowledge and information, you can make better more informed decisions of the future. Sometimes, you can see the future. Sometimes, the enemy reveals their hand. Everything I write will be a combination of both. For example, everyone on C_S_T is surprisingly still discussing cryptocurrency as a viable alternative to fiat currency. This will not happen. There is no need. The only need for crypto was to avoid fees and create a global currency based on imaginary value once again. We seen this with the fluctuation of the prices. Who dictates the prices? Well for one, the FBI holds the most Bitcoins out of anyone. So they definitely can or probably do make impacts on the market all the time. Crypto works as a penny stock. Ethereum was backed and supported by employees at Google. Does not ring any alarms in your head? The top three cryptos: Bitcoin, Ethereum, and Ripple have solidified their place. Is it not strange that all three of these currencies were funded, researched, and supported by executives in Silicon Valley? The very place that steals all our data? Early in 2018, we all saw an anomaly in the market. I do not know if you noticed (not many made the correlation), but the same day that the stock market crashed -666 points, the top three cryptocurrencies' prices fell down to Bitcoin: $6000 Ethereum: $600 Ripple: $0.60 Let me ask you, what is the probability of such a thing happening? The same day? Why was it 666? It was more of a message to Trump who just recently signed an executive order that froze billions of dollars in assets on a list of people more than a thousand pages long. The corrupt wealthy wanted to send a message that they still control the market. That despite the efforts of Trump, they decide where our money goes and they can crash the market whenever they so please. And that was why I knew it was the perfect time to buy back into crypto after their horrible crash in January. And sure enough, after the crash down to 666, everything started going back up. And I sold it soon after. Why? Because it is a penny stock. Since many corrupt wealthy individuals are now having the assets frozen, are being tried, being arrested, being hunted, they have to hide their money but want to see a return as well. Has anyone seen the subreddit Cryptocurrency? Or any specific cryptocurrency sub? It is basically a page of penny stock news. They leak information exactly as a penny stock creator would do. And you can follow the news with rises and falls in the price. They are basically taking you guys for a ride. So you might be thinking, well wtf do we do if the stock markets are rigged, crypto is rigged, and we might crash the economy if we stop fiat currency since all our bonds are connected to other countries. Let me give you the current situation and reveal how simple it really is: -Saudi Arabia, after their government change, reached out to Trump and asked for help in the tech industry. They wanted to pull out of oil because they saw no future in it and wanted to become a primary tech powerhouse in the world. Trump agreed but on couple conditions:
Saudi Arabia must start being progressive in terms of their ideals and cultural practices. They have started doing this. Women are allowed to drive now and dress as they please. A hugeee change in their society.
Saudi Arabia must buy oil from the United States.
And guess who is now the world's number one supplier of oil? Yup, the United States. This was one small development in terms of the US economy. Yes, China owns our bonds and debt but the situation is actually really quite simple and we got to witness some of it last year. Why did the trade war with China never materialize? It wasn't because of Trump's expert maneuvering or anything like that. It was because China has no choice. They slap tariffs on products we bring over there, and we do not slap tariffs on goods they bring into the United States. Are you starting to get the picture? It was a one sided deal. And we were allowed to pull out whenever we want. We made China into the economic powerhouse they are today. They did not do it themselves. We literally lifted them from the rubble and gave our middle class in exchange of our own. And this only happened by a simple trade deal of removing tariffs on their goods and allowing our goods to be taxed. That's it. So Trump is like bad deal, and throws it out. And guess what? China has no choice but to accept. Yea, they can grumble and threaten a trade war, but its all empty words. As soon as we completely overhaul all the trade deals with the world, we will see a return of wealth in the United States of at least $800+ billion/year. And that's just the beginning. Once manufacturing makes a full return to the states, people around the world will be racing to buy American products, most likely going to be the highest quality goods in the world. And this is where my vision of returning to the gold standard comes in. Of how it is possible within the next 10 years. In order to convert back to the gold standard, the value of gold must be around $10-12k per ounce in order to handle the amount of currency we have. It currently sits at $1.2k. Very easy. The United States holds the most gold in the entire world. Are they just holding it for fun or for history's sake? No, because the return to the gold standard was always on the table. Once we return to the gold standard, we can remove the Federal Reserve. We wouldn't need people manipulating the market with interest rates. We got something physical that holds everything together. I heard people saying: "Prepare for the worst case scenario." The worst case scenario is actually behind us. It would have been Hillary Clinton. They tried so hard to get us to manifest the reality that Hillary Clinton will be the next president. They failed. Why? Because our mental fortitude has been slowly growing in the past decade. I heard people saying: "Oh, I seen this before. This is another cycle that civilization goes through and then we fall back into their grips of power." I never seen or read in recorded history of what is happening right now. There is one huge game changer that no matter how much you planned, how much you prepared, no one can handle and that is the internet. The one variable factor that upsets all plans or attempts at controlling the future. The fucking internet. And they are trying so hard to combat it. They are already about to implement the citizen score system in China. And do not think for a second that they do not already have that same system in place for us, but hidden. And trust me, if you are on here in this sub discussing such ideas, your score ain't that great. You are probably labelled as a risk. This is why we are not able to repeat the same cycle. Yes, you are comfy in your home, but right now, in the rest of the world is starting to wake up. A lot faster than those in the United States. Proof? -France and the yellow vests -South Korean citizens protest and force the previous president out of the office for corruption -Armenia overthrows their government twice when they attempted to control the people -Venezuelans are overthrowing their government These events have all been transpiring in the past couple years. We are waking up, together, at the same time, all around the world. This has never happened before in history. Why? Because there was no internet. So we can't repeat the cycle. There is no going back anymore. Only forward. And the future is bright. So I will go over the events that will transpire in the next 10 years:
It will be revealed that government organizations such as NASA and the CDC have been mismanaging funds and pretty much have not been doing their jobs properly for the past decade. The current administration is going to clean house and flush out a lot of the employees who are responsible for this. Therefore, we have the government shutdown. After 30 days of government shutdown, you are allowed to let go of furloughed employees. And trust me, there is a list of people who will be let go. It will be one of the cleanest flushing of trash in our government and you cannot even blame Trump because both Republicans and Democrats are responsible for the shutdown as either side wants to relent to one another.
Also, Trump has issued a new policy for federal employees that instead of scheduled raises, it will now be merit-based raises. This attracts actual competent workers and gives them incentives to work harder to move up, rather than laze around and wait for their automatic raises. This also forces employees who have been slacking off to get their shit together or fall behind. Once NASA is cleaned up, they will be given a huge budget (you can look it up yourself, Trump afford an unlimited budget to NASA for a trip to Mars, but that was only to force NASA's hand and have them reveal that they are inadequate and have been doing nothing to begin the shake up within their ranks) to actually start implementing a lot of hidden technologies such as gravitational field generators. This will make travel significantly cheaper. Remove all pollution from the world, and remove the need for batteries. We will also be able to use gravitational waves to communicate and connect to the internet, removing the need for radio waves and WiFi signals which are actually harmful. Gravitational waves can move through mass, therefore we do not need antennas and signal towers everywhere.
The Vatican Church will fall. We are already witnessing this. Lies upon lies, the pope screaming that anyone who accuses the Catholic Church of child molestation is Satan himself, yet the very next month, enacts procedures to start bringing priests and cardinals into check. It was actually just last month where the number two person in the Vatican is charged. Once the Vatican falls, their library (which has over 15 miles of shelves of books) will be revealed to the public. As it rightfully should have to begin with. This new knowledge is going to change a lot of things in our society. One of which is the Bible itself. A lot of concepts we follow today will be changed. For one, we will discover that Jesus was not even his real name. That Jesus never wanted to be a religious symbol used in whatever way authorities saw fit. In fact, Jesus did not even want to gain popularity. Which was why he always moved to another town after he started gathering a following.
Economic prosperity and technological advancement on a scale and exponential growth we did not see possible. A lot of people here seem to say that if we were to get off fiat currency, everything would crash and burn. Do you think we would really do that if we knew everything would implode? What about the alternative that the GDP increases tremendously instead? What about the possibility that it corrects the market?
-Japan is already working on the Space Elevator -Stem cell research is reaching new heights -Cures for cancer is already discovered. The current administration is trying to figure out how to implement it without creating an economic black hole. Why? Because of geriatrics. We will have a huge influx of old people living longer and our current system would have them rot in senior homes. We wouldn't be able to handle it. We have to encourage seniors to exercise and get their bodies back into shape. There are people who are in their 70s that are still physically able and fit. This is possible for all of us. Consistency and discipline is key in exercise!
Military tribunals I don't know if you know or not, but the mainstream media hasn't really publicized it, but Trump is not even being investigated by the Mueller special council. He was never investigated to begin with. It was a witch hunt to try to find some dirt on Trump. But they are failing embarrassingly. All they have is Cohen and he was a pawn Trump was prepared to throw out for his seedy financial history.
But guess who is being investigated? As we speak? The Clinton Foundation, the Obamas, and the Bushes. I would like to remind you that it was only last year that the heiress of Seagrams Alcohol was arrested on charges of human trafficking. She is a billionaire btw. She was teamed up with another billionaire and created a sex slave organization called NXIUM. It was last year that the Paradise Papers was published. The articles that implicates a shit ton of people including the Queen of England in tax fraud and laundering. There are still people working to get this into court. It is a matter of time for these people. Unfortunately, I have to get back to work and finish up some assignments so I am going to have to end this here. Hope you guys enjoy and gain some hope yourself of the bright future ahead of us. Much love you guys.
In order to create an account on BitMEX, users first have to register with the website. Registration only requires an email address, the email address must be a genuine address as users will receive an email to confirm registration in order to verify the account. Once users are registered, there are no trading limits. Traders must be at least 18 years of age to sign up. https://preview.redd.it/0v13qoil3cc41.jpg?width=808&format=pjpg&auto=webp&s=e6134bc089c4e352dce10d754dc84ff11a4c7994 However, it should be noted that BitMEX does not accept any US-based traders and will use IP checks to verify that users are not in the US. While some US users have bypassed this with the use of a VPN, it is not recommended that US individuals sign up to the BitMEX service, especially given the fact that alternative exchanges are available to service US customers that function within the US legal framework. How to Use BitMEX BitMEX allows users to trade cryptocurrencies against a number of fiat currencies, namely the US Dollar, the Japanese Yen and the Chinese Yuan. BitMEX allows users to trade a number of different cryptocurrencies, namely Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero, Ripple, Tezos and Zcash. The trading platform on BitMEX is very intuitive and easy to use for those familiar with similar markets. However, it is not for the beginner. The interface does look a little dated when compared to newer exchanges like Binance and Kucoin’s. Once users have signed up to the platform, they should click on Trade, and all the trading instruments will be displayed beneath. Clicking on the particular instrument opens the orderbook, recent trades, and the order slip on the left. The order book shows three columns – the bid value for the underlying asset, the quantity of the order, and the total USD value of all orders, both short and long. The widgets on the trading platform can be changed according to the user’s viewing preferences, allowing users to have full control on what is displayed. It also has a built in feature that provides for TradingView charting. This offers a wide range of charting tool and is considered to be an improvement on many of the offering available from many of its competitors. https://preview.redd.it/fabg1nxo3cc41.jpg?width=808&format=pjpg&auto=webp&s=6d939889c3eac15ab1e78ec37a8ccd13fc5e0573 Once trades are made, all orders can be easily viewed in the trading platform interface. There are tabs where users can select their Active Orders, see the Stops that are in place, check the Orders Filled (total or partially) and the trade history. On the Active Orders and Stops tabs, traders can cancel any order, by clicking the “Cancel” button. Users also see all currently open positions, with an analysis if it is in the black or red. BitMEX uses a method called auto-deleveraging which BitMEX uses to ensure that liquidated positions are able to be closed even in a volatile market. Auto-deleveraging means that if a position bankrupts without available liquidity, the positive side of the position deleverages, in order of profitability and leverage, the highest leveraged position first in queue. Traders are always shown where they sit in the auto-deleveraging queue, if such is needed. Although the BitMEX platform is optimized for mobile, it only has an Android app (which is not official). There is no iOS app available at present. However, it is recommended that users use it on the desktop if possible. BitMEX offers a variety of order types for users:
Limit Order (the order is fulfilled if the given price is achieved);
Market Order (the order is executed at current market price);
Stop Limit Order (like a stop order, but allows users to set the price of the Order once the Stop Price is triggered);
Stop Market Order (this is a stop order that does not enter the order book, remain unseen until the market reaches the trigger);
Trailing Stop Order (it is similar to a Stop Market order, but here users set a trailing value that is used to place the market order);
Take Profit Limit Order (this can be used, similarly to a Stop Order, to set a target price on a position. In this case, it is in respect of making gains, rather than cutting losses);
Take Profit Market Order (same as the previous type, but in this case, the order triggered will be a market order, and not a limit one)
The exchange offers margin trading in all of the cryptocurrencies displayed on the website. It also offers to trade with futures and derivatives – swaps.
Futures and Swaps
A futures contract is an agreement to buy or sell a given asset in the future at a predetermined price. On BitMEX, users can leverage up to 100x on certain contracts. Perpetual swaps are similar to futures, except that there is no expiry date for them and no settlement. Additionally, they trade close to the underlying reference Index Price, unlike futures, which may diverge substantially from the Index Price. BitMEX also offers Binary series contracts, which are prediction-based contracts which can only settle at either 0 or 100. In essence, the Binary series contracts are a more complicated way of making a bet on a given event. The only Binary series betting instrument currently available is related to the next 1mb block on the Bitcoin blockchain. Binary series contracts are traded with no leverage, a 0% maker fee, a 0.25% taker fee and 0.25% settlement fee.
BitMEX allows its traders to leverage their position on the platform. Leverage is the ability to place orders that are bigger than the users’ existing balance. This could lead to a higher profit in comparison when placing an order with only the wallet balance. Trading in such conditions is called “Margin Trading.” There are two types of Margin Trading: Isolated and Cross-Margin. The former allows the user to select the amount of money in their wallet that should be used to hold their position after an order is placed. However, the latter provides that all of the money in the users’ wallet can be used to hold their position, and therefore should be treated with extreme caution. https://preview.redd.it/eg4qk9qr3cc41.jpg?width=808&format=pjpg&auto=webp&s=c3ca8cdf654330ce53e8138d774e72155acf0e7e The BitMEX platform allows users to set their leverage level by using the leverage slider. A maximum leverage of 1:100 is available (on Bitcoin and Bitcoin Cash). This is quite a high level of leverage for cryptocurrencies, with the average offered by other exchanges rarely exceeding 1:20.
BitMEX does not charge fees on deposits or withdrawals. However, when withdrawing Bitcoin, the minimum Network fee is based on blockchain load. The only costs therefore are those of the banks or the cryptocurrency networks. As noted previously, BitMEX only accepts deposits in Bitcoin and therefore Bitcoin serves as collateral on trading contracts, regardless of whether or not the trade involves Bitcoin. The minimum deposit is 0.001 BTC. There are no limits on withdrawals, but withdrawals can also be in Bitcoin only. To make a withdrawal, all that users need to do is insert the amount to withdraw and the wallet address to complete the transfer. https://preview.redd.it/xj1kbuew3cc41.jpg?width=808&format=pjpg&auto=webp&s=68056f2247001c63e89c880cfbb75b2f3616e8fe Deposits can be made 24/7 but withdrawals are processed by hand at a recurring time once per day. The hand processed withdrawals are intended to increase the security levels of users’ funds by providing extra time (and email notice) to cancel any fraudulent withdrawal requests, as well as bypassing the use of automated systems & hot wallets which may be more prone to compromise.
BitMEX operates as a crypto to crypto exchange and makes use of a Bitcoin-in/Bitcoin-out structure. Therefore, platform users are currently unable to use fiat currencies for any payments or transfers, however, a plus side of this is that there are no limits for trading and the exchange incorporates trading pairs linked to the US Dollar (XBT), Japanese Yen (XBJ), and Chinese Yuan (XBC). BitMEX supports the following cryptocurrencies:
Bitcoin Cash (BCH)
Ethereum Classic (ETC)
Ripple Token (XRP)
EOS Token (EOS)
BitMEX also offers leverage options on the following coins:
5x: Zcash (ZEC)
20x : Ripple (XRP),Bitcoin Cash (BCH), Cardano (ADA), EOS Token (EOS), Tron (TRX)
HDR Global Trading, the company which owns BitMEX, has recently announced a partnership with Trading Technologies International, Inc. (TT), a leading international high-performance trading software provider. The TT platform is designed specifically for professional traders, brokers, and market-access providers, and incorporates a wide variety of trading tools and analytical indicators that allow even the most advanced traders to customize the software to suit their unique trading styles. The TT platform also provides traders with global market access and trade execution through its privately managed infrastructure and the partnership will see BitMEX users gaining access to the trading tools on all BitMEX products, including the popular XBT/USD Perpetual Swap pairing. https://preview.redd.it/qcqunaby3cc41.png?width=672&format=png&auto=webp&s=b77b45ac2b44a9af30a4985e3d9dbafc9bbdb77c
The BitMEX Insurance Fund
The ability to trade on leverage is one of the exchange’s main selling points and offering leverage and providing the opportunity for traders to trade against each other may result in a situation where the winners do not receive all of their expected profits. As a result of the amounts of leverage involved, it’s possible that the losers may not have enough margin in their positions to pay the winners. Traditional exchanges like the Chicago Mercantile Exchange (CME) offset this problem by utilizing multiple layers of protection and cryptocurrency trading platforms offering leverage cannot currently match the levels of protection provided to winning traders. In addition, cryptocurrency exchanges offering leveraged trades propose a capped downside and unlimited upside on a highly volatile asset with the caveat being that on occasion, there may not be enough funds in the system to pay out the winners. To help solve this problem, BitMEX has developed an insurance fund system, and when a trader has an open leveraged position, their position is forcefully closed or liquidated when their maintenance margin is too low. Here, a trader’s profit and loss does not reflect the actual price their position was closed on the market, and with BitMEX when a trader is liquidated, their equity associated with the position drops down to zero. In the following example, the trader has taken a 100x long position. In the event that the mark price of Bitcoin falls to $3,980 (by 0.5%), then the position gets liquidated with the 100 Bitcoin position needing to be sold on the market. This means that it does not matter what price this trade executes at, namely if it’s $3,995 or $3,000, as from the view of the liquidated trader, regardless of the price, they lose all the equity they had in their position, and lose the entire one Bitcoin. https://preview.redd.it/wel3rka04cc41.png?width=669&format=png&auto=webp&s=3f93dac2d3b40aa842d281384113d2e26f25947e Assuming there is a fully liquid market, the bid/ask spread should be tighter than the maintenance margin. Here, liquidations manifest as contributions to the insurance fund (e.g. if the maintenance margin is 50bps, but the market is 1bp wide), and the insurance fund should rise by close to the same amount as the maintenance margin when a position is liquidated. In this scenario, as long as healthy liquid markets persist, the insurance fund should continue its steady growth. The following graphs further illustrate the example, and in the first chart, market conditions are healthy with a narrow bid/ask spread (just $2) at the time of liquidation. Here, the closing trade occurs at a higher price than the bankruptcy price (the price where the margin balance is zero) and the insurance fund benefits. Illustrative example of an insurance contribution – Long 100x with 1 BTC collateral https://preview.redd.it/is89ep924cc41.png?width=699&format=png&auto=webp&s=f0419c68fe88703e594c121b5b742c963c7e2229 (Note: The above illustration is based on opening a 100x long position at $4,000 per BTC and 1 Bitcoin of collateral. The illustration is an oversimplification and ignores factors such as fees and other adjustments. The bid and offer prices represent the state of the order book at the time of liquidation. The closing trade price is $3,978, representing $1 of slippage compared to the $3,979 bid price at the time of liquidation.) The second chart shows a wide bid/ask spread at the time of liquidation, here, the closing trade takes place at a lower price than the bankruptcy price, and the insurance fund is used to make sure that winning traders receive their expected profits. This works to stabilize the potential for returns as there is no guarantee that healthy market conditions can continue, especially during periods of heightened price volatility. During these periods, it’s actually possible that the insurance fund can be used up than it is built up. Illustrative example of an insurance depletion – Long 100x with 1 BTC collateral https://preview.redd.it/vb4mj3n54cc41.png?width=707&format=png&auto=webp&s=0c63b7c99ae1c114d8e3b947fb490e9144dfe61b (Notes: The above illustration is based on opening a 100x long position at $4,000 per BTC and 1 Bitcoin of collateral. The illustration is an oversimplification and ignores factors such as fees and other adjustments. The bid and offer prices represent the state of the order book at the time of liquidation. The closing trade price is $3,800, representing $20 of slippage compared to the $3,820 bid price at the time of liquidation.) The exchange declared in February 2019, that the BitMEX insurance fund retained close to 21,000 Bitcoin (around $70 million based on Bitcoin spot prices at the time). This figure represents just 0.007% of BitMEX’s notional annual trading volume, which has been quoted as being approximately $1 trillion. This is higher than the insurance funds as a proportion of trading volume of the CME, and therefore, winning traders on BitMEX are exposed to much larger risks than CME traders as:
BitMEX does not have clearing members with large balance sheets and traders are directly exposed to each other.
BitMEX does not demand payments from traders with negative account balances.
The underlying instruments on BitMEX are more volatile than the more traditional instruments available on CME.
Therefore, with the insurance fund remaining capitalized, the system effectively with participants who get liquidated paying for liquidations, or a losers pay for losers mechanism. This system may appear controversial as first, though some may argue that there is a degree of uniformity to it. It’s also worth noting that the exchange also makes use of Auto Deleveraging which means that on occasion, leveraged positions in profit can still be reduced during certain time periods if a liquidated order cannot be executed in the market. More adventurous traders should note that while the insurance fund holds 21,000 Bitcoin, worth approximately 0.1% of the total Bitcoin supply, BitMEX still doesn’t offer the same level of guarantees to winning traders that are provided by more traditional leveraged trading platforms. Given the inherent volatility of the cryptocurrency market, there remains some possibility that the fund gets drained down to zero despite its current size. This may result in more successful traders lacking confidence in the platform and choosing to limit their exposure in the event of BitMEX being unable to compensate winning traders.
How suitable is BitMEX for Beginners?
BitMEX generates high Bitcoin trading levels, and also attracts good levels of volume across other crypto-to-crypto transfers. This helps to maintain a buzz around the exchange, and BitMEX also employs relatively low trading fees, and is available round the world (except to US inhabitants). This helps to attract the attention of people new to the process of trading on leverage and when getting started on the platform there are 5 main navigation Tabs to get used to:
**Trade:**The trading dashboard of BitMEX. This tab allows you to select your preferred trading instrument, and choose leverage, as well as place and cancel orders. You can also see your position information and view key information in the contract details.
**Account:**Here, all your account information is displayed including available Bitcoin margin balances, deposits and withdrawals, and trade history.
**Contracts:**This tab covers further instrument information including funding history, contract sizes; leverage offered expiry, underlying reference Price Index data, and other key features.
**References:**This resource centre allows you to learn about futures, perpetual contracts, position marking, and liquidation.
**API:**From here you can set up an API connection with BitMEX, and utilize the REST API and WebSocket API.
BitMEX also employs 24/7 customer support and the team can also be contacted on their Twitter and Reddit accounts. In addition, BitMEX provides a variety of educational resources including an FAQ section, Futures guides, Perpetual Contracts guides, and further resources in the “References” account tab. For users looking for more in depth analysis, the BitMEX blog produces high level descriptions of a number of subjects and has garnered a good reputation among the cryptocurrency community. Most importantly, the exchange also maintains a testnet platform, built on top of testnet Bitcoin, which allows anyone to try out programs and strategies before moving on to the live exchange. This is crucial as despite the wealth of resources available, BitMEX is not really suitable for beginners, and margin trading, futures contracts and swaps are best left to experienced, professional or institutional traders. Margin trading and choosing to engage in leveraged activity are risky processes and even more advanced traders can describe the process as a high risk and high reward “game”. New entrants to the sector should spend a considerable amount of time learning about margin trading and testing out strategies before considering whether to open a live account.
Is BitMEX Safe?
BitMEX is widely considered to have strong levels of security. The platform uses multi-signature deposits and withdrawal schemes which can only be used by BitMEX partners. BitMEX also utilises Amazon Web Services to protect the servers with text messages and two-factor authentication, as well as hardware tokens. BitMEX also has a system for risk checks, which requires that the sum of all account holdings on the website must be zero. If it’s not, all trading is immediately halted. As noted previously, withdrawals are all individually hand-checked by employees, and private keys are never stored in the cloud. Deposit addresses are externally verified to make sure that they contain matching keys. If they do not, there is an immediate system shutdown. https://preview.redd.it/t04qs3484cc41.jpg?width=808&format=pjpg&auto=webp&s=a3b106cbc9116713dcdd5e908c00b555fd704ee6 In addition, the BitMEX trading platform is written in kdb+, a database and toolset popular amongst major banks in high frequency trading applications. The BitMEX engine appears to be faster and more reliable than some of its competitors, such as Poloniex and Bittrex. They have email notifications, and PGP encryption is used for all communication. The exchange hasn’t been hacked in the past.
How Secure is the platform?
As previously mentioned, BitMEX is considered to be a safe exchange and incorporates a number of security protocols that are becoming standard among the sector’s leading exchanges. In addition to making use of Amazon Web Services’ cloud security, all the exchange’s systems can only be accessed after passing through multiple forms of authentication, and individual systems are only able to communicate with each other across approved and monitored channels. Communication is also further secured as the exchange provides optional PGP encryption for all automated emails, and users can insert their PGP public key into the form inside their accounts. Once set up, BitMEX will encrypt and sign all the automated emails sent by you or to your account by the [[email protected]](mailto:[email protected]) email address. Users can also initiate secure conversations with the support team by using the email address and public key on the Technical Contact, and the team have made their automated system’s PGP key available for verification in their Security Section. The platform’s trading engine is written in kdb+, a database and toolset used by leading financial institutions in high-frequency trading applications, and the speed and reliability of the engine is also used to perform a full risk check after every order placement, trade, settlement, deposit, and withdrawal. All accounts in the system must consistently sum to zero, and if this does not happen then trading on the platform is immediately halted for all users. With regards to wallet security, BitMEX makes use of a multisignature deposit and withdrawal scheme, and all exchange addresses are multisignature by default with all storage being kept offline. Private keys are not stored on any cloud servers and deep cold storage is used for the majority of funds. Furthermore, all deposit addresses sent by the BitMEX system are verified by an external service that works to ensure that they contain the keys controlled by the founders, and in the event that the public keys differ, the system is immediately shut down and trading halted. The exchange’s security practices also see that every withdrawal is audited by hand by a minimum of two employees before being sent out.
BitMEX Customer Support
The trading platform has a 24/7 support on multiple channels, including email, ticket systems and social media. The typical response time from the customer support team is about one hour, and feedback on the customer support generally suggest that the customer service responses are helpful and are not restricted to automated responses. https://preview.redd.it/8k81zl0a4cc41.jpg?width=808&format=pjpg&auto=webp&s=e30e5b7ca93d2931f49e2dc84025f2fda386eab1 The BitMEX also offers a knowledge base and FAQs which, although they are not necessarily always helpful, may assist and direct users towards the necessary channels to obtain assistance. BitMEX also offers trading guides which can be accessed here
There would appear to be few complaints online about BitMEX, with most issues relating to technical matters or about the complexities of using the website. Older complaints also appeared to include issues relating to low liquidity, but this no longer appears to be an issue. BitMEX is clearly not a platform that is not intended for the amateur investor. The interface is complex and therefore it can be very difficult for users to get used to the platform and to even navigate the website. However, the platform does provide a wide range of tools and once users have experience of the platform they will appreciate the wide range of information that the platform provides. Visit BitMEX
My Interview with Andrew Craig - Founder of Plain English Finance and Best Selling Author of 'How To Own The World'
Hey everyone, I was lucky enough to record a podcast with Andrew Craig - author of brilliant finance book 'How To Own The World'. The book has been the second highest rated book about investing on Amazon.co.uk after Ben Graham’s investment classic “The Intelligent Investor”. I wanted to share my highlights and key takeaways from the conversation here because I have learnt so much from Andrew (over the past few years). If you are interested in personal finance (as you should be because you're in this subreddit) you will learn A LOT from this podcast episode. The notes below are a great summary also. You can listen to the episode in full here (or just read the below notes): Website | iTunes | Spotify
GENERAL MONEY TIPS
The failure of modern education is that it doesn't teach financial intelligence or rules for making money and financial stability – and this is one of the essentials of the modern world, and that’s why you have to learn it even if that means learning it through self education.
State pensions are now lower in most countries because they were created when life expectancy was much lower than it is today, and there were fewer pension beneficiaries. This Forbes article goes in depth about the growing pension problem and gives some alarming statistics. It’s another reason why you should start investing while you are young.
‘’Compound interest is the 8th wonder of the world’’ - Albert Einstein. If you put £5000 at the day your child is born, and if it grows 10% annually – by the time it reaches retirement age that £5000 will turn into £945 000.
The global economy is growing at around 10% per year over the last 15 years. With the rise of the global economy you pretty much can, with some education, invest your money and expect high single digits return over the long term.
OWNING THE WORLD TIPS
Owning the world means owning all parts of asset classes – that is called diversification by assets.
Main asset classes: equities, bonds, cash, commodities & property.
Diversification by geography means investing across all the worlds geographies.
Between 2007 and 2009, the stock market halved - but oil was at the all-time high, gold prices increased, and Japan and China had economic growth. And that is why you need to diversify by assets and by geography.
Online banking, cheaper transaction fees, and various new financial products have made trading and investing possible in the last 10 years - allowing a lot of people in the western world to invest across assets/geographies.
People often get swayed by sexy investments and get-rich-quick types of investing, such as Bitcoin or crypto, or the dot.com boom of the early ‘00s.
Underperformance risk - when the devaluation of money is more than the interest rates that you receive when you have put your money in the bank or some other financial institution.
PSYCHOLOGY OF INVESTING TIPS
Social media exposure and the internet is only heightening the get-rich-quick mentality. Blogs and social media accounts with some sexy headline that promises to get rich in 3 months are more and more prominent.
‘’History rhymes’’ - Mark Twain. Lessons can always be learned from what has happened before, and that’s why smart investors always expect down years and don’t panic when they arrive.
Life is a marathon, not a sprint. People overestimate what they can do in one year and underestimate what they can do in 10 years.
If you just let your money stay in your account at the bank - you are actually losing money, due to inflation.
One of the biggest misconceptions is that learning about finances and stock markets is only for rich people.
Learning about money and having your financial life in order doesn't take more time than learning to drive a car.
Money is not the root of all evil, and it can make significant changes in the world, like the Bill Gates foundation as the most obvious example.
70% of people who win the lottery are bankrupt in 5-10 years - because wealth creation is all about knowledge and healthy financial habits.
FINANCIAL LITERACY TIPS
Modern people live in capitalism, but most of them don't know how capitalism really works.
‘’The Millionaire Next Door’’ by Thomas J. Stanley and William D. Danko is an excellent book about financial literacy, about property and stock market investment.
Financial literacy and learning about financial markets can mean a night and day difference in your life, and it is not too hard to learn this skill. It’s quite complicated to become a great trader but to make basic investments you don’t have to be the next Warren Buffet.
You should always save and invest 10% of your income, however difficult it may seem. Reframe your mind to spend 90% of your income, it’s a psychological trick that will enable you to keep that 10% for investments.
The second big misconception is that you "don't have enough money to invest". If you put 10% of whatever you are making, you will have a decent amount of money when you are retiring, by the law of compound interest.
Calibrate your life so you can spend 10% a month - when there is a will, there is a way, even if you are saving 50$ a month. Saving on coffee will save you something, but rent payments are the first thing you should try to save on, and even consider moving if your rent is too high.
Don’t spend the money that you don’t have and live above your current earning ability, and especially don’t do it just to impress people.
Your first step towards investing, other than reading books and education - is to find a stock brokering firm, and to open an ISA account.
With the rise of the economy, investing in the stock market is hugely profitable. Everybody who invested in the UK stock market in 1955, would become a really wealthy person by now, even if they invested small amounts of money in small-cap companies, as this research suggests.
If you invest in risky, and volatile financial instruments over and over again, chances are high that you will strike gold eventually, even though it may not be the best strategy for most people.
The tortoise beats the hare – just starting to save a little bit of money now creates a habit and is far more likely to make you invest and gain interest in the long run.
Automatic investing every month in something makes you a habitual investor and impervious to the news - because there will always be a reason why you shouldn’t invest. People always think that we are living in far more volatile times than they actually are.
Asset allocation changes with age, you subtract your age from one hundred, and that tells you what portion of your investments should be in risky assets.
Learn about main investment classes and how will you mix those up – Andrews’ book ‘’Own the World’’ teaches how to think and make money by yourself.
Each small step you take takes you to the next place – always keep on learning and try different things without exposing yourself to significant risk. And that’s true in all aspects of life, relationships, health, and wealth.
To do good you must first do well – if you have your finances in order, then you can afford to give money to charity, and also help your family and put others in a position to be successful.
And I need help from you guys. I've watched videos by Adreo Antonopolos, and I ordered a couple of his books yesterday. But as far as the rest of you guys I feel like I'm extremely lacking in the knowledge on how everything works. I have practically 0 in depth computer experience, but the technology behind bitcoin is fascinating and it's making me want to learn more. I began to read the guide on the raspberry pi and the lightning network and quickly realized I was out of my league with the use of the command prompt, but I still want to learn. Can anyone point me into a good direction on how much computer know how I'm gonna need to really get into this, where to learn it, resources, what to read? I really want to play a bigger part in this because I believe in the tech, but I don't know where to go from here.
Bitcoin Tycoon Li Xiaolai: Investment, Please Start from Learning!
Li Xiaolai, former Chinese crypto investor For Li Xiaolai, I believe that everyone is no stranger, and recently he is back! If you are concerned, you will find this controversial figure, some people regard him as a life mentor, and some people regard him as a swindler. In today’s era of information, it is difficult to judge a person impartially and objectively. Regarding Li Xiaolai, I spent a lot of time researching this person. From the beginning, he taught us a lot of things, The first pot of gold that Li Xiaolai earned was a few test books he wrote during his teaching in New Oriental, and the famous “Take Time as a Friend”, which brought him nearly a million years of income as early as ten years ago. . In 2011, Li Xiaolai first learned about Bitcoin from the Internet. I thought I found the right way to know a person and his knowledge. https://preview.redd.it/vncobv28xp031.jpg?width=800&format=pjpg&auto=webp&s=d53ec04ebb36934fda5cd190edb7386cc4d55b0a Li Xiaolai and his book “The Self- Cultivation of Chives” give the greatest revelation: no matter what you are doing, whether it is investing, attention, time, learning, growth, is always the most important thing. In life, it doesn’t matter what you do, as long as you do it well you will succeed. It is cultivating that skillset that where ever you do, you will succeed. While learning and growing are important for investment, he gave advice in “ The Self- Cultivation of Chives “,In his opinion, it is difficult to have a place in the world that needs more learning ability than the trading market. The success of the trade can ultimately be traced back to learning ability. Almost all-powerful traders are masters of learning and research. Regarding the criteria for distinguishing between investors and speculators, he believes that “speculators refuse to learn, investors are good at learning. Before placing the trade, study carefully and study in depth; after the transaction, whether you win or lose, you must summarize your ideas and thoughts in order to improve your next decision-making. The person who does this is investing in his knowledge. Even if they are “fast forward and fast out.” What is the “ Chives”? They don’t study, they are blind, they blame everyone… Such people, in his eyes, whether they have money or not, regardless of IQ, are “failed speculators”. In Li Xiaolai’s view, the wrong timing and blind “buy and buy” led the novice to become a professional. To get out of the long-term trade, it is necessary to continue to learn to improve investment literacy, rather than waiting for lady luck. Of course, choosing the right time to enter is not easy, because even the Wall Street traders admit that “it is more difficult to get into the market accurately in the market than to catch a dropping knife.” Not to mention ordinary investors and novices. However, blind investment can be avoided by everyone, on the grounds that learning and summing up experience can be done before and after the investment. https://preview.redd.it/8pir7khaxp031.jpg?width=690&format=pjpg&auto=webp&s=b46510f341ba2fa6cc543f74545e0ad6f6a41538 It is worth noting that the difference in the direction and order of investment learning will also make a difference in results, such as value investing, “determining whether to buy or sell after the value of the value is available,” and “discovering it after three or seventy-one. There is a world of difference in not being able to study value again. Therefore, the importance of learning direction and order also requires deep thinking. Regardless of traditional investment methods or digital currency investments, learning can discover value, as conveyed in the self-cultivation of amaranth: whether you are on or off the field, if you want to invest, start with learning. https://preview.redd.it/r6kyw5gfxp031.jpg?width=640&format=pjpg&auto=webp&s=43319e1e6b2984cb791203814be4244777e93540 About Mars Wallet： Mars Wallet, a secure and professional digital asset wallet, regularly shares digital currency investment and financial management skills for you. We focus on digital currency management, and we have carefully polished and formed Mars’ own brand advantage: the four-fold security protection system protects your digital assets in an all-round way; enjoys the benefits of digital financial management with a high annualized rate; and the excellent customer service system eliminates financial worries. With Mars, it’s very worry-free! For more information on Mars Wallet, keep up with its following social media: Medium: https://medium.com/@support_34903 Telegram: https://t.me/marswallet Reddit: https://www.reddit.com/use1-SG/ Twitter: https://twitter.com/1SG_2018 Instagram: https://www.instagram.com/marswallet_1sg/
My weekend with Titanium Blockchain Infrastructure Services, TBIS
This is my first ever blog post so please excuse me if I don’t adequately meet up to your writing expectations or answer all of your questions. Just a warning I tend to be wordy. In the Telegram world, my name is “Titanium Big Fish” and I hold a 6-figure amount of Titanium’s utility token, TBAR. As many of you know, Titanium Blockchain Infrastructure was hacked February 21, 2018. Prior to the hack, I had always been active on the telegram channel and enjoyed talking of our future riches to others as I found myself loving the banter and comradery. Moon landings and Lambo’s were often the fun conversation. Unfortunately, this hack happened immediately after I sold my business and a week after my first child was born. I went from someone mentally retired on Titanium and crypto to someone unemployed with a newborn, having to now bust out my 2011 resume. By February 21st, I was known to the top level in the company as a 6-figure token holder and I was still actively accumulating, so when I noticed A LOT of BAR being dumped on IDEX, I sent a telegram to Richard the COO questioning the ‘sale’ of so many tokens. Much to my surprise, and until today, I have kept this to myself, Richard asked me for my email and to sign an NDA and I was to call into a group chat. Much of what I write here might “bend” this NDA. Besides myself on the call there were a few top-level managers. I was informed that there was a hack. Michael, the CEO sounded extremely upset. I could hear despondence and stress in his voice. Before they decided to go with their plan A, they wanted a token holders’ thoughts. Someone who might have some other insight into a different idea and hear how the community might react. I came up with an idea that was not feasible at the time which was to fork into the ‘ingots’ but Richard said the blockchain would not be ready for a few months and not a solution to stop the hacker from profiting. They then discussed an actual fork, that Richard and James could start working on ASAP. Everyone agreed that the fork was the best idea to prevent the hacker from profiting and TBAR was created at this point. Apparently, the team had previously contacted the exchanges, because our call ended when the IDEX owner called for Michael and Michael had to get off the phone with us to take that call. There were 4 takeaways from this phone conversation that I had. One: I strongly suggested NOT to reveal this hack to the community and to make up ANY excuse but ‘hack’ to the token holders. I knew the mention of that word, would cause the BAR price to plummet and as a large holder I wanted to avoid that. Michael said, that we had to take the high road, and be honest and transparent. I really felt that was a strong statement for him to have made and it was something that I am certain that I would not have been able to do in that moment had I been the CEO. Two: I immediately noticed there was one top level manager NOT on the phone call, the CTO. I had been following Titanium and knew all the management and expected the CTO to be on this call. Literally that week I had run background checks on everyone so when someone was not there, I took notice, especially since his background check had some minor criminal issues. Three: when I asked whom I thought could possibly do something like this, it was evidently clear to me that the others on the call had a definite idea who the hacker was and it seemed Michael even wanted to blurt it out, saying something about not knowing who your true friends are. Four: I found myself somewhat on the ‘inside’ of the company. The next few weeks were basically a nightmare. I had added to my holdings all month leading into the hack and even had a 5-figure order on the books that the hacker grabbed up. To say I was fully invested is an understatement. I became the voice of reason to many on the telegram channel, because I really believe in the project, and knew they would pull through and also suspected they knew whom the hacker was and his being caught was inevitable. Also, hearing Michael and Richards voices on the call to discuss options, gave me confidence that they had nothing to do with this. I also felt it best to be reasonable about my holding and think everything through logically and clearly before taking a negative stance on this. My logic and reasoning led me to fully believe in the team after seeing how hard they were working on resolving this. I always felt, if it was not for Hitbtc, this would have been a minor issue that would have been incredibly resolved quickly, brilliantly and with almost no loss of BAR. Over time, I started to grow closer to Richard and others on the team in my private discussions about the hack and my own Sherlock Holmes investigations. Unfortunately, I am still under my NDA and even now can not reveal things that I know because mostly they are circumstantial or might hinder the investigation. My NDA also prevented me from revealing other things that I had known in the past. For example, when a youtube interview was rescheduled, people blamed Michael for this. He seemed to be an easy fall guy, whom everyone felt just didn’t show up. However, I had known all along that it was cancelled by the interviewer and Michael was actually ready for the interview. One of the team members took the fall blaming themselves for this miscommunication. People questioned this when it was revealed, but I saw it as a team that never places blame on others and never speaks negatively about anyone, nor do they try to counter FUD even when they can and should. To me that is the sign of a company specifically thinking long term. I still have not seen a team member bad mouth anyone or any company (even HBTC). On a whim, I reached out to Richard and said that I wanted to meet him, to see the office and meet Michael. I was concerned about my purchase, of course, and felt as a token holder I needed to see what was going on. There was a blockchain event coming up in LA and I was told that weekend would work as Martha, the CCO, would also be there. For this trip, I rented my own car, paid for my own airfare and rented my own hotel room. Titanium did not pay for me to come out to LA and they did not suggest that I come. Titanium is not paying me to write this nor are they demanding I say or not say anything. I never intended to write anything about my trip and my trip was not intended to answer Q and A for myself, nor did I take notes until the last day. My purpose of the trip was not to learn roadmap details nor product details, so I apologize to those that think I will fill you all in on the goodies. I was told many goodies, but I took them in stride as a big whole positive picture. I went to see if this was a long-term hold, if I should actually buy more, and to meet the humans behind Titanium, to get a feel for them specifically. I have been careful in what I have written as to not excite people too much with mentioning things not fully completed nor have I mentioned things told to me that might violate others NDA and I do not go into detail at all on any road map dates nor many specific products really. For example, we discussed the Element wallet in detail, but I won’t mention it in this blog at all, nor will I mention many of the products being worked on. All I will say is that there are a lot of things going on. It took me 2 weeks to get this blog out, and as we know in crypto 2 weeks is a lifetime, so many of the issues discussed below have been resolved, as well as some of the questions at the end, have already been answered. My initial meeting with Richard and Martha was brief. It was a cordial meeting- the conversation focused on HITBTC, the big hack, the twitter hack, as well as the fud group. I initially asked what the plan was for HITBTC. Richard had told me he was waiting on their contact there to do what is asked of them, and though they seem to want to help, and they have agreed to help, they always seemed to stop short of helping. I asked if HITBTC wanted money to resolve this, he said yes, and he was willing to pay. Plan B, Richard said, will take place very soon. Although It is not an ideal solution, Richard would have to have each of the 1500+ wallet holders left on HITBTC send in proof that they have BAR on HITBTC, prove when that purchase was made, and individually, each wallet will be sent TBAR if they qualified. It would be a slow and tedious endeavor, that would use up a lot of manpower, but it would get done. The conversation then turned to the hacker. I can’t speak to most of this as it is under investigation and I don’t know the full details, neither did Richard nor Martha. We all have our suspicions, and everything is unfortunately circumstantial at this point, so we just had an in-depth conversation on the circumstantial evidence. I can’t really discuss some of this information however, it is my opinion that this hack was a hack of vengeance, and not really for profit for they would have waited for a much better time to hack and BAR was really under the radar at this point with very low volume. This person does not want Titanium to succeed and more so, has a personal vendetta against Michael. The amount of people on this list is very, very small and it seems apparent that this is what the FUD group was set up for. Interestingly, this same person that I suspect is often in the FUD group. I suspect the person that publicly stated they did not want a fork and also publicly insinuated we should have paid the hacker, is to blame. You can all decide on that one… Interestingly, when I asked the telegram group to send over some Q and A, only 1 person asked about the hack. It seems that people are starting to move on from it. The conversation then turned to the twitter hack and the FUD group (note: this group is currently shut down as of the writing of this blog). Much to my surprise these two things did not seem to bother Richard nor Martha very much at all as they were already past this and implemented new company protocols and procedures. They felt that they have done nothing wrong and were not concerned as the price of the token was moving downward with the market and was now currently sitting near or above ICO Ethereum price (actually as I finish this, it is double the ICO ETH price). It seems Richard was focused more on moving forward, hiring and getting the product created and out. Laser focused actually! We all suspected the twitter hacker and this FUD group are related. I suspect the same people. I learned, there is only 1 person that no longer works with the team, that would have access to the ‘released’ database (that was threatened to be released), and that person is active in that FUD group. That person still had access to the websites and I learned, apparently had shut them down a few times over the weeks. Richard said they are not even investigating the twitter takeover as it would not lead to much and they needed to focus on putting resources where they are better served. There were a lot of conversations back and forth between the founder of the FUD group and Richard. The founder of that group, was asking a large sum of ETH to do an AMA right after the hack. She was pretty upset that she was being ignored, to me it just made sense that during this moment of crisis, she obviously would not be priority #1, nor would a discord AMA be worth the price of many dozens of ETH. It is now old news, so lets move on. Prior to my arrival in LA, I received a message from someone on Telegram who had “secret information” and correspondence from Michael regarding moving the office to Europe. This individual had once worked for the team and worked on setting up a possible international office and wanted me to know this information. I thought that would be a great idea, to get away from the regulations of the USA. Initially the person seemed to be telling me this as if it was secret FUD that he had, but when questioning him more, he said this was discussed months earlier and definitely not an escape plan, but more so to expand our offices internationally. I asked Richard his thoughts on moving the company, and he said that there are definitely no plans on doing so, however they do plan on running the DEX exchange in a favorable European country. Malta (where Binance recently opened office), Switzerland and Belarus had all come up, but no decisions were being made as to where. They went as far as looking into the intricacies of opening bank accounts and offices if necessary in these European locations, but it has not moved forward at this moment. More details might be released soon, and if so, it is not FUD, but a well thought out plan by Titanium. They truly thought everything through on this. After about 90 minutes, Richard and Martha were heading to the office to meet Michael and interview 2 new engineers. My takeaway from the initial meeting was that I was surprised to hear Martha had recently just met Michael that morning, in person, for the first time. I had always thought they knew each other well, Michael always acted on the telegram that he was very personal with Martha, but I soon found out he is very warm and friendly to everyone. Richard and Martha had also just recently met face to face and only knew each other from Core through the ICO. My initial impression of meeting Richard is that he does not seem phased by anything. Every amount of FUD thrown his way he seemed to brush off with his answer of “we did nothing wrong, the product will speak for itself”. This seems to be his true belief. He is pretty certain of whom the hacker is, and does show some emotion when discussing that. Regarding the investigation, all Richard could say was that he was told something was definitely happening and news will be released soon. He is pretty calm and collected for someone basically running the helm here. Martha seemed to have her ducks in line and was very passionate about the project. She has the high energy and the knowledge it takes to fill her position with the company. That night I met Richard and Martha in bar in LA. We had a few drinks and the topic of course turned to Titanium. Most of the discussion that we had made me super excited, as it detailed many of the future products. I recall texting “Dr Hodler” the telegram manager, that night and telling him I am loading up on more TBAR (since my trip my position has increased by 5 figures). Much of my memories of the conversation revolved around the master nodes. This is where my NDA really kicks in, so I can’t go into detail about them. I know they will be tiered and they will exist, though Richard mentioned unlike regular master nodes that we know of, because those pay a dividend and as a utility token we have to avoid paying a dividend. They will be blockchain rewards based. So token holders that have master nodes will earn block rewards. This was very well thought out. What I will say, and this was a running theme for the weekend, is that Richard is extremely brilliant. Not the nerdy brilliant, one-subject brilliant or boring brilliant but the type of brilliant that probably knows more about your profession, than you do. The Jeopardy champion brilliant. He thought of so many intricate details on every product and regarding these nodes, and this company, that his excitement, passion and intelligence made me excited. He did go into technical detail on these things, but I would never be able to explain it correctly. It was very detailed and thought out. Though after this evenings conversation, I do see why Michael mentioned Elon Musk once in a telegram chat. What I would later find out about Richard was that at age 12 he was building and taking apart computers, and probably charging more to tutor people in computers, than a doctor was charging. He is someone that can lead Titanium to the top, someone that is motivated to, desires to, has the financial ability to, financial incentive to, and someone that will certainly be a huge success story in anything he wants. I am extremely confident in him and Titanium. Everyone wants to hear Michael speak, but Richard in my opinion is really the man behind the tech here. Unfortunately, like many tech guys (or geeks, though he does not come across as that), he is more comfortable behind the scenes instead of in front of a camera and never seemed to bite on my idea of getting him to do weekly video updates. The next day we met at the Blockchain conference. It was not a great conference, but I did end up meeting 3 guys from the LA office, the amigos as Richard would say. They seemed excited to be working for Titanium. They were all intelligent and high energy, amicable and knowledgeable on this space. They were open to doing whatever it is that Richard asked of them. They were however not engineers and are part of the admin team working with Michael out of the LA office and they were there to help network with some of the youtube speakers at the conference and to get TBIS name out. Eventually one of the guys, Alex, got us in the backroom with the main speaker and a youtube personality that I follow. I was excited that this happened however that youtuber seemed only interested in how we could help him, and since his future ICO seemed like shit to me, that was not gonna happen. One takeaway was that I was a little dismayed at the teams elevator pitch. Hopefully in the future if they get to sit down with a big player off-the-cuff like that, it would be a bit more organized. I know it was the first time something like this might have happened, so next time hopefully they prepare better. Sales is extremely important in this space, and being able to spew EXACTLY what you need, what you do and how you do it, all within 30 seconds, has to be practiced. I can tell it was not. It did not matter because this guy was a dud, even though he was a main youtuber, it just goes to show these youtubers just are out only for themselves. Interestingly, in later conversation, I asked if Titanium ever paid “Supoman” and I was not surprised to hear that they 100 percent never had. Our next stop after the conference was to head to the new office to meet Michael. One of my many reasons for investing into the ICO was because this was a USA based company, something located close enough that I could visit if I needed and because of Michael. When I first met Michael, I could see he was extremely well liked by his staff. A few of the guys that I met had come along to the office, and he hugged them when he saw them and seemed to be very warm, friendly and easy going. I have only heard great things about Michael from people that know him and worked with him and I remember our conversation on the phone after the hack how he seemed pleasant even in crisis. He was very professional as well as friendly, we shot the breeze a bit. It was mostly small talk. I had wanted to bombard him with a bunch of questions, but at the time, it didn’t seem appropriate as I was not one on one with him. Richard had already told me there was an investigation going on, but that it was secret and unless I could get alone with Michael I foresaw that was not going to be answered. He definitely seemed more the sweet, caring, puppy loving, family loving, honest and easy-going type, rather than anything else I could have imagined. I didn’t see any ‘snake oil salesman’, ‘used car salesman’ type at all. In fact, how this guy could have any enemies anywhere actually is surprising. I immediately liked him and could see why he would be good in sales. I assume anyone that does not like him, has clearly never met him. When I thought about the office, I envisioned it where every techie developer on the team would be flown in worldwide, living out of a commune together and working 24/7 on Titanium. I envisioned team brainstorming meetings in a huge conference room with 100s of people running around. Well this I have come to understand is not what happens in the real ICO world. Titanium has a really nice office (the new carpet smell was prevalent) though it was not set up completely. It is perfect size for a start-up and I suspect mostly will be Michael’s home base /private office. Especially since Richard said he was not only not moving to LA, but that he was opening up his own office in Oregon (apparently Eugene is a tech town). Much to my dismay, the LA office is just not going to be an active hub of developers and engineers burning the midnight oil. What I have come to know is that the best developers and engineers, just don’t live in LA, nor do they want to, and I can definitely understand that. So, although Richard interviewed a few developers the day before, that might work in the office, he even said they could probably work from home (after implying he was hiring them). The LA office will house most of the admin people working for Michael and possibly the future sales staff, but really won’t be much of an active office with engineers working so anyone wanting that 24/7 camera set up in the LA office, I have given my two cents that it is stupid idea and a complete waste of time, money and energy as there will not be people burning that midnight oil like I suspected. Previously, Richard had mentioned to me and to the telegram group that they have hired about 40 contractors and subcontracted engineers and Michael agreed with that statement when I brought it up. Richard has also told me they are hiring up to about 60 in total. I was pleasantly surprised to hear such a large number. He said they will be located worldwide and did mention what cities he was advertising in, but I have since forgotten. For the most part, people working for Titanium, will work remotely. Richard did state that anyone working for TBIS moving forward will be solely employed exclusively by TBIS and not allowed to work on any other project but ours. That was also refreshing. Other things that were discussed with Michael was the FUD group. Again, I found it interesting that Michael did not seem to care too much about this group. I was under the impression he did not even know much about them at all. Seems the team doesn’t feel they have anything to worry about. The common theme is that they are a utility token, a product, sold to the public for future use in their ecosystem. When asked by me if they thought about getting a cease and desist on the group, they shrugged off the idea. Interestingly, everyone that bought into the ICO is now up money on TBAR compared to ETN, ETH and probably every other coin used to purchase BAR (unless fiat was used) Titanium is trading spectacularly compared to the rest of the market. One last thing that happened in the meeting with Michael was that when I revealed someone wanted me to reach out to the ex CTO for a conversation with him, Michaels demeanor completely changed. He went from a smiling happy guy shooting the breeze about the office furniture, to a complete 180 turn, becoming a stern father figure telling me exactly not to go play in shit. Basically, he gave me warning that it would be a bad idea and lets just leave it at that. That night we ended up going back to Richards Airbnb. We all played a bit on the telegram and chatted about how inexpensive TBAR was. It was here that one of the main team members that I was with went on IDEX and purchased 12,000 TBAR after confirming the price was just too cheap at .25 cents. I also was told that recently another main team member bought a larger amount of TBAR in the 40 cent range. That was confidence building for me. Then it came up that immediately after the hack happened Richard and Martha confirmed that Richard went through ALL 22000+ wallets, one at a time, to take a snap shot of each wallets BAR holdings, to know who had what at the time. This took many hours. I was impressed. It seems that he has a lot of passion for this company and desire for it to succeed and, also that he doesn’t mind taking a back seat to all the work he does. I felt at that moment that I should write a little blog about my trip so that others can see how much work these guys are doing. Martha is also completely on the ball. She is overwhelmed I am sure with her duties, but seemed to handle everything perfectly in stride. She is also very intelligent and has her Master’s Degree in Communications from an amazing school. So even though she came from CORE, seems she is a great fit for the job. Sunday afternoon we spent a little time going over some questions that were asked of me on the telegram chat. Much like some of my blog, some of the issues and questions have already been resolved. I apologize it took me so long to get this out. I do want to make clear, the purpose of my trip was not for me to get answers to certain questions, it was for me to meet the team, see real substance, and get a better understanding of Titanium, it was not a Q and A session for me. It was about absorbing and getting a feel for TBIS. It was for myself and not really to make this blog. I am not technical, so I could not dig too deep into technical details, if you want those answers, hopefully the new Q and A weekly newsletter will answer those for you. I am under an NDA so some of the questions or concerns that I might have answers to, are tough for me to relay. But here are a few paragraphs of what came from these questions. As far as partnerships are concerned, Titanium is obviously seeking out many strategic partnerships, but the product is high priority right now. Politically it is hard to discuss potential partnerships before they actually happen, so there was no set name of a partner that was mentioned. Nor did I ask. This seemed to be the theme with exchanges as well. There was a mention to me of a few exchanges that were seemingly definitely coming, but they cannot be revealed by me because there are NDA’s with those exchanges and of course things could change. I assure you from what was randomly said to me, possibly by accident, there is a real great one coming. But again, that can always change. Product completion is imperative for acquiring customers as well, but I was happy to hear Richard and Michael are flying to Thailand to meet with a potential customer. That seems to be something Michael mentioned in a video and it was confirmed with me that it was indeed definitely happening. As for seeing Michael more, Michael is now focused on the big picture of Titanium as a whole and will be fostering past and new relationships and partnerships for the most part. Due to this he won’t be available as much for video interviews going forward. Hopefully that changes, but the team feels that it is a positive for him to concentrate on the connections he has first and foremost. Masternodes will be tiered and might be set up like block rewards as opposed to dividends. The larger the amount of tokens, the more possible rewards could be earned……. No word yet on how many tokens are needed for MN, rewards will be based off the new token and not TBAR. 10,000 was recently confirmed as one tier. The way it is set up, the # of tokens will not be diminished in our lifetime, I am not sure exactly where this supply is coming from but when I asked where do the never ending supply of blockchain rewards come from, I was told, block rewards are similar to how bitcoin works and the economy is designed to last longer than any of our lifetimes. Tbar will not be minable. There are plans to un ban everyone that has been banned in telegram and start a new slate, once things clear up with all the TBAR HITBTC nonsense. It might be read only or they might open it back up with a short leash, but that is definitely on the agenda. I myself will probably unban everyone banned to read only shortly. There are no patents at the moment- can’t really patent some of this kind of software but if they can they will try. They are looking into all IP patents however, and any patents they can get, they certainly will. Technical whitepaper- a new version is coming with more tech specs and with a tech write up but not how things will work, that isn’t going to be released. No public github but Richard will write a readme writeup for github explaining their open source stance. Some will be open source but it takes longer to open source. Companies often do this. Telegram for example has their app open sourced and some server tech but not all of it. Titanium is concentrating on only hiring the best people around. When asked exactly how many are currently hired full time the answer was- there were already 35 direct hires and they have some contract employees working on a couple of the projects with them (I guess this is the 40 total mentioned before). The website is being redeveloped because it was still in control of the ex CTO, who actually might have crashed it multiple times and took the ICO site offline a few times. Hmmmm, interesting. Some of the new projects will have one-of-a-kind technology. Some were explained in depth and sound awesome… As far as competitors go, Richard seemed happy that Google and others have been very clear on what they will be creating and he says it is not anything like what TBIS is doing. Here are some other direct questions answered briefly. How can long term holders be rewarded? Staking of their tokens for services as well as Master Node options. Is there an ever a reduction of supply? Burning is being heavily considered as services are being paid for. Premium Michael promised after the hack? ICO supporters will have something. It is not solidified yet, the team can’t wait for ICO buyers to hear about it in the official announcement. When can we expect a working product? They currently have working versions of their product and it’s constantly evolving. Open Betas and Alphas are upcoming but I couldn’t get exact dates yet. Apparently, software design is often tricky but they have a good team and always hiring. As far as some past FUD I would like to answer. Many brought up the home address as the address of record on TBIS website and incorporation. Those of you who question this have clearly never set up a small business in the USA. The process is simple. You can NOT lease an office without a corporate bank account, you can NOT get a corporate bank account without incorporating and you can NOT incorporate without an address. It is all one big catch 22. So, the VAST majority of business have 1 or 2 options. One is to use a home address or maybe a PO Box though I don’t think that is allowed in my state, the other option is to pay a ‘registered agent’ to collect your mail and use their random address. This is what a lot of companies do, but it costs money and there is no need for it. There is absolutely NO FUD nor concern that TBIS used a residential address as their initial address. All of my businesses have been incorporated at a residential address. Also, I ran a background check on the 5 current and an ex main player of Titanium and 4 of the 5 background checks (the 4 current and new employee) were clean as can be, completely stellar, the 5th was not. I also have a friend that works for the FBI. She is a psychological forensic profiler. Now I personally do not have an answer to whom was contacted regarding the hack, but my FBI friend said there is no chance, zero chance that the FBI will discuss any ongoing investigation with any Joe from the general public. She went on to say, unless you are an interviewed suspect or the victim, you would not be told about an ongoing investigation. She was very adamant about this. Even stating, “Do you think they would have fielded your call about Madoff?” However, she went on to say that the FBI would be the wrong people to contact regarding a crypto hack and that a private company that specializes in this stuff would be better, as FBI agents (in her words have no clue about this stuff) and make about 1/3 what a private company would pay their hackers. So, this sums up my visit. I learned many things and I hope I could help you with some of your questions. I know I could not answer the whodunit question nor give a price prediction of the future of TBAR, nor resolve HITBTC for you, sorry. One of the most important things I realized is that this is truly a startup. If you are looking for a quick buck it is probably not happening. I think this frustrates many of you, causing unnecessary FUD. Much like my newborn stretching and kicking and making awkward faces, Titanium is in the newborn phase doing similar things. Finding their strong points, falling down a little, scratching themselves and even maybe a little crying / firing. Eventually, like my son, things will fall into place and what we will end up with is a very successful operation because all the groundwork is being laid right in front of our eyes. I was privileged to see the office blueprints, hear conversations about the hiring of team members, meet the CEO, hear about other offices being started, and the intricacies of products that are being built. I believe that once they overcome the hack and hitbtc and the fud, things will be smooth sailing when they can truly focus on all things positive. Those that are interrupting this process are like the big dumb schoolyard bully that doesn’t realize that instead of picking on the cool nerdy kid, they should join forces with this kid, help him off his feet as this will one day grow into something extremely successful. But like the big dumb bully, unfortunately you just can’t reason with stupid.
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