Bitcoin converter and calculator tool - Bitcoin Converter
Bitcoin converter and calculator tool - Bitcoin Converter
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MXC Global steps forward in the Turkish cryptocurrency market after partnering with MenaPay
https://preview.redd.it/s9rpzi2sj6e51.png?width=751&format=png&auto=webp&s=f379dd86d47116ba457e201334338eb92060afaf 1. MXC Global Partners with MenaPay to Expand the Market in Turkey and Islamic Countries According to ChainNews, Turkey local time on July 30, MXC Global announced a strategic cooperation with the compliance payment platform MenaPay in fiat currency. MXC will expand the Turkish and Islamic markets with the help of MenaPay. MenaPay is the first SuperApp in the Middle East and North Africa region to fully support blockchain-based non-bank mobile payment solutions under Islamic financial regulations. This means that MXC Global steps forward in the cryptocurrency market, also has expanded further in the Turkish market. As early as March this year, MXC Global has successfully pioneered the cryptocurrency market in Turkey. By cooperating with the local Blockchain Platform Blockchain Turkey Platform (BCTR), MXC Global started to build a sustainable blockchain ecological sharing platform. BCTR was established on the initiative of the Turkish Informatics Foundation (TBV). Its members include AKBank, one of the largest banks in Turkey, Beilbim, a Turkish electronic money and payment services company, as well as MXC Global, a cryptocurrency trading platform. It reflects the truth that MXC Global values the Turkish cryptocurrency market and cryptocurrencies in the field of electronic payments. Obviously, Turkey’s cryptocurrency market is of great significance to MXC Global’s expansion of the global market. It can be informed by Turkey’s geographical location and local cryptocurrency trading volume. Turkey has a population of about 82 million. It spans Europe and Asia. It connects with Georgia , Armenia and Iran in the east, borders the Black Sea in the north, the Mediterranean Sea in the south, and the Aegean Sea in the west. It is an important commercial hub connecting Europe and Asia. Its location plays a role. Additionally, Turkey is one of the countries with the largest number of cryptocurrencies in the world after the United States, Japan and South Korea. According to a survey by Ing Bank, 18% of people in Turkey say they own cryptocurrency, which is much higher than the European average, 9%. Coinhills data shows that as of July 17, the trading volume of Turkish fiat currency, Lira to Bitcoin was approximately USD 49.13 million, next to that of the USD, JYP and EUR. Çağla Gül Şenkardeş, MenaPay CEO once said in an interview: “Traders now have the option to deposit with fiat currencies directly to their accounts on MXC Global by MenaPay QR code, bank transfer or credit card options easily in seconds. We will continue investing the technology to improve the integrated payment solution and expanding their services to other sectors as well.” 2. MXC Global Attracts Cryptocurrency Traders Through a Multi-Dimensional Compliance Operation Strategy Nowadays, not only cryptocurrency exchanges are actively expanding global cryptocurrency payment channels, but also traditional electronic payment and business platforms are optimistic about the cryptocurrency payment method. Payment giant PayPal, one of the first companies in the world to support Bitcoin payments, plans to launch a business of selling cryptocurrencies directly to its users and a built-in wallet feature for storing cryptocurrencies earlier this month. The new function is scheduled to be launched within three months at the latest. Rakuten, a Japanese e-commerce giant who announced that it would release cryptocurrencies in 2018, had acquired Everybody’s Bitcoin, a Japanese cryptocurrency exchange, for USD 2.4 million. It also lays out the full range of cryptocurrency applications in the field of electronic payments. In December 2019, Rakuten announced that it supports customers to convert Rakuten Group Super Points into top market cap coins, including Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCH). In February, Rakuten declared that it would further support customers in cryptocurrency trading after a business restructuring. With the popularity of cryptocurrencies in the world, more and more e-commerce platforms have to adapt to the current market demand, open cryptocurrency payment methods to meet customers’ needs. MXC Global, a cryptocurrency trading platform, can further expand the cryptocurrency compliance trading market by cooperating with MenaPay, an electronic payment platform, and promote the application of cryptocurrencies in practical scenarios. Apart from MenaPay, MXC Global has also partnered with Banxa, a payment processing platform in Southeast Asia, and Simplex, a European compliant payment company who supports trading in AUD, USD, GBP, EUR etc. Thus, users can use Visa and Master cards to purchase major coins such as BTC and ETH. MXC Global has become an emerging cryptocurrency trading platform after two and a half years’ globally regulated operations. The trading volume accounts for 5% of the global market. Its users come from a diverse background, coving language areas of English, Russian, Korean, Portuguese, Turkish, Vietnamese, Hindi, Malay, India, Africa and so on. Since 2019, MXC Global has successively obtained legal licenses of MTR in Estonian, MSB in the U.S, AUSTRAC in Australian, MSB in Canadian and VQF in Swiss. It is currently one of the global exchanges that have the most multi-country operating licenses. It can provide services under the guidance of local regulatory authorities. MXC Global not only actively seeks registration of legal licenses globally, but also partners with well-known electronic payment companies. It carries out multi-angle global compliance operations to expand cryptocurrency traders.
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Any advice on what to do with a large amount of USD that has been gifted?
So I’ve been gifted a large amount of American dollars and I’m not sure what to do with it. Do I convert the money and deposit it into my bank account? I’m worried that I will lose a fair bit in conversion fees. Do I see if I can find a bank who holds onto American dollars? I’m worried that that will cost me a continuous fee over time.
Australians, you need to start buying as much crypto as you can.
I’m Australian, this isn’t meant to be an alarmist or sensationalist post, but the economic situation in our country is a lot more serious than most of us think. First off, the current economic situation. Simply put, our economy is fucked. Our housing market is dangerously overleveraged and because of policies by our government at the time, we never experienced the correction the US and most of the rest of the world did during the 2008 Global Financial Crisis. And now the chickens are coming home to roost. Australians are up to their eyeballs in debt, almost half of the housing loans are interest only, it’s the reason the Reserve Bank of Australia hasn’t raised the interest rates since 2016. Because as soon as they do, even by 0.01%, tens of thousands of Australians are going to default on their mortgages. It’s no secret that our housing market is one of the most expensive in the world, and anyone living in our country already knows this. The market value of Australian homes is 4 times the GDP of the country. Our housing market is beyond the point of saving and the bubble is about to pop. And while our mainstream media is trying to convince us that it will deflate slowly, history paints a different picture. And that’s just the start of our problems. It’s no secret that China is our biggest trading partner. We rely on China more than any other developed country in the world. And what is currently happening on the greater global stage? Our most important military ally has engaged in a trade war with China, and the effects of that trade war are starting to be felt. Chinese stocks are in freefall, and that’s only going to be the beginning of the negative effects from Trump’s hardline approach to dealing with China. It doesn’t take a genius to see that this is going to have a devastating effect on our economy. Our biggest trading partner is having a financial gunfight with the USA, which is going to result in them buying less of our stuff. And still that isn’t the end of it. Mining is down. Commodities prices are down. Our manufacturing sector is almost dead. The only thing we have going for us at the moment is agriculture and that can’t prop up the entire economy. You wanna turn white? Read this article from last year. Our economy is teetering on the precipice. You think I’m being dramatic? Well even the Australian MSM can no longer ignore it. With articles like this appearing almost on the daily. Our dollar is in serious trouble, anyone who knows the slightest bit about TA go look at the graphs in that article. Our country is in serious economic trouble. And we don’t know shit about it because our media is a duopoly that makes most of its money from their real estate arms. All signs are pointing to our dollar about to be worth a hell of a lot less than it currently is. What can we do? Since this is the crypto subreddit the solution to this impending economic shitstorm should be painfully obvious. Buy fucking Bitcoin. Not the solution for the country, for you. The country isn’t going to do shit for anyone of us except saddle us with debt and a cooked economy that is going to take generations to get out of, if ever. So we should be diversifying. Sure buying gold probably isn’t a stupid idea either, but if you think that is proof against state intervention, read a history book. Even then, gold still needs to be converted into cash to be useful, and anyone paying attention can see that Australia is gearing up for a war on cash that borders on tyrannical. The only way for us as individuals to protect our wealth at the moment is to convert it into cryptocurrency. But Bitcoin is low at the moment! No shit. But if you think it’s going to stay that way you are 1. In the wrong subreddit, and 2. No paying attention to the macro factors of crypto. Wall St is gearing up to enter. The bank that runs the world is getting involved. And not just American banks. Bitcoin may be low now but if you know anything about market cycles, you know that it’ll be back. Here is a good comparison of BTC a few years ago as opposed to now. It’s almost at the point where it’s irresponsible not to be buying bitcoin, and I’m not the only one that holds this opinion. Worst case scenario, bitcoin falls to USD 3k. What do you think is going to happen after that? Bitcoin and crypto aren’t going anywhere and you’re kidding yourself if you think that the value of bitcoin isn’t going to be much higher in the years to come. Of course the RBA is telling people that Bitcoin is dead, probably because they don’t want Australians to dump their soon to be worthless fiat currency. In fact one any given day you’ll see a bunch of anti-crypto propaganda on our MSM. The same MSM that has been telling us all to buy as many houses as we can for the last 20 years. The same MSM that up until now hasn’t said shit about the direction our economy is heading in. The writing’s on the wall people. If we keep our wealth in AUD it’s going to be worth considerably less sooner rather than later. Our property sector is going to crash, our dollar is going to crash, our personal wealth is going to be stripped away from us. If you want to avoid this, if you want to protect your wealth, ensure a future that isn’t financial hardship, then we really only have one choice. Buy bitcoin. Personally I am converting half my pay each week into BTC and just holding it. Not putting it into alts. Just btc. I’d advise you do the same as well. I understand that this sounds super risky. But if you read the articles I’ve linked to in this post I’m sure you’ll see that the only risky move is doing nothing. This isn’t a joke or a false alarm. The notion that our economy has always been fine up until now isn’t valid anymore. If you want to protect your personal wealth and purchasing power in the next few years, you really should be buying as much btc as you can while it is this low. This is what crypto is for, avoiding the negative financial downturns of specific countries. It’s a globally traded commodity that is accessible by anyone with a computer. Our economy tanking isn’t going to affect the price one bit. I hope some of this has been useful. Listen to me, don’t listen to me, it’s your choice. But this is the digital age, there’s no excuse for ignorance anymore.
Crypto and Tax Australia - Date: 26 March 2018 I was sent this by the tax office: We have just updated our website and cemented our position on cryptocurrencies. For more information see Tax treatment of cryptocurrencies or go to ato.gov.au and search for QC 42159. Capital Gains Tax When does it apply? Currently individual Cryptocurrencies are a Capital Gains Tax (CGT) Asset.. When you sell or otherwise dispose of an asset it's called a capital gains tax (CGT) event. This is the point at which you make a capital gain or loss. Therefore, a CGT event applies each time crypto currencies are traded (sold or converted) - whether they are traded for another currency or cashed out. - regardless if there is no exchange of funds (AUD$). For every capital gains tax (CGT) event that happens to your assets during the year, you need to work out your capital gain or loss. If you have both capital gains and capital losses, you also have to work out your net capital gain or net capital loss for the year. When working out your capital gains or losses, include the transaction conversion in Australian dollars at the time of trading on your spreadsheet. How do you record Capital gains or losses to your Income tax return? At the end of the financial year your capital gains can be reduced by the capital losses. This is then added to your income. Capital Gains and or losses are recorded in your income tax return, under the Capital Gains section. Capital gains discount Capital gain can be reduced by 50% for individuals if held for 12 months or more. For information see Capital gains tax or go to ato.gov.au and search for QC 22147 ———————————————————— What I have learnt about ATO laws and crypto in Australia in my own words: Ok- so I have now had about 2 hours discussion with the Tax Office and want to outline what I have learnt - for good and bad. If you want to be legal this is what you have to do. I submitted these points to a tax office rep. who verified they are correct as at 26th March 2018.
Every single sale is a taxable event- that means coin to coin and coin to AUD - every single one! That is a shock to most of us - but unfortunately true.
Every time you make a gain you have to record it and it is a taxable event. EG- you buy ETH with AUD- then buy NEO - if this took 1 hr and in that time ETH went up by $10 before u bought the NEO you just made $10 taxable dollars on the ETH as u buy the NEO!
The tax office does not concern itself with what we call "profit," that our folio app may show, it is concerned with net gain or losses on individual transactions.
So EVERY transaction (buy and sell) has to be logged with the corresponding AUD value so gains and losses can be determined.
Blockfolio app is perfectly set up for tracking all of this - If you diligently add each transaction accurately, it will log the info you need in AUD. You can look at a purchase price for a coin in AUD - the sell value in AUD and determine gain or loss on each sale- and log it.
I am also using a second ledger in an excel doc. as another record in case the app dies for whatever reason. I will transfer the details from blockfolio into this file on each transaction.
The tracking headers for the excel doc would be something like:
Coin Date Amount AUD buy AUD Sell Profit or loss:
If you sell a coin at a loss- it comes off your taxable total at end June 30- as do all your fees and other expenses- eg's a Ledger, PC, ISP fees, backup HDD, etc (some may have to be depreciated over a few years).
Some good news is that if you sell an alt coin into BTC or ETH at a profit (attracting CGT) and then into AUD, (it will be approx. the same value if done quickly), the change into AUD is also potentially taxable but there will usually be next to no change in value- if done quickly. You can thus cash out and not have to use something like USD Tether and rebuy whenever you like. The CGT will have applied to the gain as you exited crypto into AUD via ETH or BTC.
Turning crypto into AUD is not the crux of what attracts CGT- it is every single coin or cash exchange that results in a gain or loss.
Coins you bought at any given time do not attract CGT as they appreciate- only when you sell them. So if you made 500% gains in your portfolio no CGT is attracted until you sell for another coin or AUD.
CGT gains are added to your personal income- so most will be in higher tax brackets.
There is no $10,000 "get out of CGT" clause that applies to crypto.
If you have a partner in life, and purchase crypto currency with joint funds, you have to share the CGT across both of your tax returns. It can be a nominated percentage for this Join Tenant arrangement, but you must be consistent. The percentage you choose at your first return (EG 60/40%) has to be maintained for the entire time you are into crypto.
The tax office has developed and is improving on a tool to help you work out your CGT obligations- it isn't mandatory you use it and should be able to be found on the ATO website.
Coins bought and held for 12 months attract the benefit of a 50% discount in CGT. This applies to specific coins and not "your crypto in general" It does not mean you can buy and sell crypto all year and then turn it into AUD after a year and pay tax on your profit that you cash out.
———————— This process is complex for crypto investors- especially if you are an active day or swing trader- To be compliant with Australian Tax law this is how to do it. Essentially, it is fair as losses and costs are deducted from profit. This process gets hard for crypto traders to bear when we may have bought at one price, made gains then our portfolio drops. In practice, you could be liable for more gains that have attracted CGT than "profit" you show in your portfolio when there is a crash. It's hard to take but it's the way the Aust. Govt. is approaching crypto and all investing actually. At this stage, the ATO is treating crypto like all other investments and some of the differences may, in my opinion, not be fully appreciated by law makers and potentially may change in the future. I expect this would be a slow process. ——————— I realise ppl may say "Well, the tax office doesn't know what I'm up to and I will just declare any taxable gain when I cash out." That is your prerogative- I'm just passing on what the legal approach to this is FYI. Do with this info what you may- I hope it is helpful in some way.
Hi all, just a quick question How would I go about transferring my crypto currency into aud from the coinbase app? Say I have “X” amount of stellar, and “Y” amount of BTC Is it best to convert it all to bitcoin and transfer the bitcoin to a different app that converts it to aud? Or is there a less tedious process 😅 Thankyou in advance
They then provide you with the bank routing and account number of the unique, virtual bank account that they set up for you to receive payment via direct deposit. You then go into your in the Uber driver App, Lyft App, DoorDash driver app, whatever ... and update your Direct Deposit (ACH) payment information (to use that routing and account number from BitWage). After your employer pays via direct deposit, BitWage then converts to BTC whatever percentage or amount you configured your account to use, and the balance is distributed to your bank (less 1% local currency wage distribution fee). You get your bitcoin the next day! And this isn't just U.S. (ACH) banks, and it isn't just Uber and other gig work. Any person who receives pay from any employer via any of the following payment methods can use this BitWage For Individuals service:
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Of Wolves and Weasels - Day 45 - Breadth and Scope
Hey all! GoodShibe here! Yesterday I spoke about those off doing great work on our behalf, taking the lead or pushing the boundaries of what Dogecoin can do. I think today is a great chance for everyone to get a real sense of what's going on here - what a group of 65,000+ Shibes has and is accomplishing as we speak (err... type). So, please, if I've forgotten anyone, don't feel bad -- especially if you're doing something in another sub -- just let me know in the comments and I'll add it to the list, okay? Here we go! Recently Completed Projects
Experiment.com is now taking Dogecoin! Meaning that we're now able to directly fund SCIENCE with Dogecoin -- which is freaking awesome in my books. Thanks to vu0tran and their efforts to get a change.org petition up and running -- and the community for making it happen!
Altcend, created by altcy is a browser extension that allows you to send DOGE to Facebook, YouTube, Twitter, Google+, and Reddit users no matter where they are in the world. Here's their original launch thread!
WP-Dogecoin, created by studionashvegas is a WordPress plug-in that lets you show your Dogecoin wallet address on your WordPress blog or site.
Have I missed something? I'm sure I've missed something! I can keep going but I'm already running late for work (got carried away)! Post in the comments and I'll add as I have time over the course of the day :D) It's 9:14AM EST and we're at 52.53% of DOGEs found. Our Global Hashrate is spiking from ~68 to ~89 Gigahashes per second but our Difficulty is still riding low at ~1027! Go! Mine! Have fun! As always, I appreciate your support! GoodShibe
The Golden Farm game is an opportunity for users to generate an income by "purchasing egg laying birds", convert the eggs into game silver, and the silver into real cash.
No actual "purchase" is necessary as the game provides an initial amount of free stuff, however by purchasing higher value egg-laying birds, the speed at which you earn is greatly increased.
This is afreesite at the time of this writing, however, with a monetary purchase, the time it takes to generate any earnings will be significantly improved.
The website has its own currency known as silver, there are 2 types of silver: One 'For purchases' and one 'For withdrawals'.
Your income is based on the buying of birds and selling of eggs for Silver, which can be converted to the currency of your choice. Income can vary based on a variety of conditions and is not guaranteed.
If you wish to invest in the site, which you do at your own risk, I have found that the most efficient way to do a "real cash purchase" is to use bitcoin currency. And to Withdraw we use Payeer.
The website also has a referral program where you will be supplied and use a standard link that looks like this: https://golden-farm.biz/?i=688480 or a banner that looks like the image below:
The Signup process for this site was fairly simple. On the first page, I found a [Registration/Signup link](http://%20https//golden-farm.biz/?i=688480), which allowed me to create a username and a password. At the start, I was given a small amount of "Silver" in order to make our first purchase and a free bird which me to immediately make money.
I decided to invest just enough to purchase one of the larger income generating birds. Overall I have found this site to be very lucrative. To give you an idea of my current income, with an investment of approximately $150 AUD, I am now earning just about $3.00 per day which is just under $90 per month. Not bad for a free site. In simple terms, It will take me less than 2 months to see a complete return on my investment. Now it's up to you to join. Please use my link HERE so that we can also benefit from your joining.
Cryptocurrency and Blockchain – Industry News – (07.26.19 – 08.02.19)
Total Market Cap, as of 08.02.19 at 12:00pm (PST): Missed last week’s update?Click here for a summary STORY OF THE WEEK · From a court hearing held on July 29th , 2019, New York Supreme Court Judge Joel M Cohen delays the decision whether to dismiss NYAG’s allegations against Bitfinex and Tether or to reject the motion to dismiss for 90 days. CRYPTOCURRENCY TRADING SERVICES · Digital-asset wallet service provider Blockchain.com launches a new exchange service dubbed “The Pit”. · BitFlyer Europe launches new buying and selling service to spot trade cryptocurrencies. · Kraken partners with Etana Custody to offer new options for fiat deposits and withdrawals in USD, EUR, CAD, GBP, JPY. REGULATION · In an explanatory memorandum issued by the Treasury in Australia, proposes to ban cash payments for goods and services exceeding 10,000 AUD (U.S. $6,900). Digital currencies have been mentioned to be excluded should the rule take into effect. · Bithumb, Upbit, Coinone and Korbit face stricter requirements to maintain bank accounts as large South Korean banks tighten measures to combat money laundering. · In the risk factors section of a recent quarterly report, Facebook outlines while it expects its Libra digital currency to launch in 2020, regulatory concerns from lawmakers and regulators may prevent it from happening at all. · The U.K Financial Conduct Authority (FCA) has finalized guidance on crypto assets and the tokens that fall under its jurisdiction. · Cryptocurrency derivatives exchange Quedex has secured a Distributed Ledger Technology (DLT) Providers Licence from the Gibraltar Financial Services Commission (GFSC). This gives the firm the ability to offer trading services such as Bitcoin futures and crypto custodial services. · A total of 11 regulations related to blockchain/cryptocurrency has been lifted in the South Korean city of Busan as a controlled experiment to increase research and development. TECHNOLOGY · Tether has launched a new token dubbed Liquid USDT running on BlockStream’s Liquid Network sidechain. INSTITUTIONALIZATION · According to a recent patent filing, Walmart may be working on issuing its own fiat-backed digital currency. · Grayscale’s U.S. $2.7 Billion in Crypto Assets Will Now Be Held by Coinbase Custody PEOPLE · Co-founder of cryptocurrency exchange Bitmarket, Tobiasz Niemiro has been found dead with a bullet wound to the head on Thursday in a forest near his home city of Olsztyn in Poland. · Former CEO of Mt. Gox, Mark Karpeles faces a class action lawsuit brought in Philadelphia over the notorious collapse of the exchange in 2014. TWITTER · @danheld – "A loaf of bread costs: 1915: $0.07 2019: $2.89 | 2010: 119 BTC 2019: 0.00037 BTC You tell me which is a shitcoin" · @michellebond111 – “With tomorrow’s hearing, I’m encouraged that our congressional leaders are taking the time to understand crypto and blockchain technologies. Let’s work together on a thoughtful policy framework that fosters innovation at home in the U.S. The time is now.” · @jimmysong – “If you want to really stack sats, make something so good that people will go through the trouble of converting their fiat to BTC to buy it.”
07-06 20:43 - 'PSA: Avoid Atomic Wallet and Change Now at All Cost: They will not return your coins in a timely fashion.' (self.Bitcoin) by /u/MidiSax removed from /r/Bitcoin within 758-768min
''' UPDATE: The way that some of these companies in the crypto-currency space treat their customers is absolutely NOT acceptable. I am going to fight this with all of my might. I just sent a long message to someone with the legal authority to help me with this situation. I do not want to reveal anymore details right now, but if this situation is not resolved soon, I will. If the situation were reversed, and I owed them money, there is no way that they would accept the answer "I will get it to you at some undefined date in the future", but they expect us to accept that answer from them. There is evidence that this behavior is systemic with the Atomic wallet and Change Now: [[link]5 As soon as Atomic Wallet/Change Now issue me a full refund, I will gladly post that information here. ------------------------------------------------------------------------------------------------------- UPDATE 2: I just received the following response from Julia, the Head of Customer Support at Atomic Wallet: "Hi, My name is Julia, I am a Head of Customer Support at Atomic Wallet Team. I want to sincerely apologize for this case to take that long to be resolved. We indeed gave an ETA of 2 weeks, as we were informed so by our exchange partner. Unfortunately, no posting on reddit or other platforms can help the case to be resolved faster. The delay is caused be the technical difficulty to have access to your BCH. I want to emphasize, that although we are happy to do everything possible to refund your money, the issue is caused by the fact that BCH and BSV networks have no replay protection and should be split be the user him/herself. We have a related article on our website [[link]6 *. Once again, your money “were not taken” by us or our exchange partner. This is a technical issue caused by the way BCH and BSV networks operate. Again, we are sorry for the delay, you refund will be made. There is no question in this. As we can see from the messages, you were explained by change now on the mechanics of the operation. It is just technically a complicated procedure. We hope for your understanding. Atomic Wallet Team. " I thanked Julia for her response, and I informed her that I will delete all relevant social media posts once this situation is resolved (hopefully in 2 weeks). ------------------------------------------------------------------------------------------------------ I did not realize that BSV does not have replay protection. I intended to convert BSV to BTC, but my BCH moved along with the BSV. I intended to do this using the Atomic wallet which uses Change Now as one of its exchange services. On June 10th, 2019, I accidentally sent 10.12847871 BCH here: [[link]7 For the last month, I have been emailing them, and asking them to refund my BCH here: [**[link]8 They completely refuse to commit to date when I will get my refund. I gave then every opportunity to make this right, but they have left me no choice but to go public. ----------------------------------------------------------------------------- Hi, Thank you for your message! We understand your frustration. We are sorry for the inconvenience.The BCH/BSV refund takes a couple of weeks usually, please be patient. We and ChangeNow team will contact you as soon as the refund will be finished. Please stay in touch. ------------------------------------------------------------------------------- Hello, Thank you for contacting us. We received your email request! Someone from our team will get back to you as soon as possible. We usually reply within one hour. In the meantime, you may follow these steps to help us to resolve your issue faster. Make sure you have the latest version of Atomic Wallet. If not, please upgrade on our official website. Try to install and enable a VPN on your device. Then reload the wallet and check if the problem persists. Provide us with your Atomic ID. You can always find it under Support>Copy anonymous Atomic ID. If possible, provide us with a screenshot of the issue, transaction hashes, and addresses of the coins you have the issue with. Don't worry! Your funds are always safe on the blockchain and we are here to provide you with quick and friendly help. Best wishes,Atomic Wallet team. --------------------------------------------------------------------------------------- Hi, Unfortunately, as it was mentioned earlier, it will take a lot of time. We will get back to you as soon as there is any news. Thank you for your patience! Best regards,ChangeNOW Support Team -------------------------------------------------------------------------------------- Hi, Unfortunately, there is no ETA yet. We'll contact you once there is any news. Thank you for your patience! Best regards,ChangeNOW Support Team ---------------------------------------------------------------------------------------- Hi, Unfortunately, it'll take more than a couple of days. We will get back to you as soon as there is any news. Thank you for your patience! Best regards,ChangeNOW Support Team ------------------------------------------------------------------------------------------ Hi, We're already in touch with Atomic support team. We'll issue a refund to the address qz98slrry2tu4z85pr40lgmzgyxxzzg0ag86nqm7zm and come back to you with the transaction hash. Also, I want to notify, that it will take a lot of time to issue a refund. The point is that we don't have access to these assets at the moment, as for receiving deposits in BCH and BSV we use two different wallets, and they are not connected to each other.Unfortunately, it requires that we spin up a node that we have no connections to, that's why it will take a lot of time. We will get back to you as soon as possible. Thank you for your patience! Best regards,ChangeNOW Support Team -------------------------------------------------------------------------------------------- Hi, Unfortunately, as it was mentioned earlier, it will take a lot of time. We will get back to you as soon as there is any news. Thank you for your patience! Best regards,ChangeNOW Support Team ---------------------------------------------------------------------------------------------- Hi, ChangeNOW will do everything possible to make it happen. ---------------------------------------------------------------------------------------------- Hi there, We sincerely apologize for the long waiting! Our exchange partners will do their best to make a refund as soon as possible. ''' PSA: Avoid Atomic Wallet and Change Now at All Cost: They will not return your coins in a timely fashion. Go1dfish undelete link unreddit undelete link Author: MidiSax 1: w*w.re*dit*com/Cry**oCurre***/co*ments/8*sgi*/c**n*enowi*_s**m_frauds**r*_have_stol*n_*0*_b*h/ 2: **p*ort.ato**cwalle*.i*/ar*icle***-ho*-to-*plit-bch-b*v 3: **o**c*air.c*m*bitcoi*-cash/address/qruss*y8*y*uu*w45ynsv**dertr*p*t4vz0**r*3* 4: **ockcha**.*om*bitcoi*-ca*h/addre***qz98sl*ry2tu4*85pr40*gmz*y*xzz*0*g*6nqm7*m 5: w*w.re*dit.c*m**/*ryptoC*rr*n*y/co**ents/8wsg*changenowio\_s*a***f*auds*er*\_*ave\_st*le*\_1*0\*bch/**^1 6: su**or*.*tomic*a*le*.io/ar*ic*e/59-how-*o-sp*i*-*ch-*sv**^^2 7: bl*c*ch*ir.com/b*t*oin*cash/*ddre***qru**vy80yk*unw45ynsvgr**rtr*pa*4**0kqrd3g]*^3 8: blockchair.com/*it*o**-ca*h*a**ress*qz*8s**r**tu4z85pr*0l*mzgyxxzzg*ag*6nqm7*****^^4 Unknown links are censored to prevent spreading illicit content.
I've been working on a bot for crypto subs like /r/bitcoin for a few days now. Say hello to crypto_bot!
Hey guys, I've been working on crypto_bot for some time now. It provides a bunch of features that I hope will enhance your experience on /bitcoin (and any other subreddit). You can call it by mentioning it in a comment. I started working on this a few days ago. I'm constantly adding new features and will update this post when I do, but if you're interested I'll post all updates and some tips at /crypto_bot. Please either comment here, message me, or post there if you'd like to report a bug, request a feature, or offer feedback. There's also one hidden command :) You can call multiple commands in one comment. Here's a description of the commands you can use:
Responds with the USD price of one bitcoin from an average of six of the top bitcoin exchanges (BTC-E, Bitstamp, Bitfinex, Coinbase, Kraken, Cryptsy).
Responds with the USD price of one bitcoin at seven exchanges (all of the ones listed above, plus LocalBitcoins). Also lists the average at the bottom.
Responds with the USD price of one bitcoin from [exchange] (any of the seven listed above).
Responds with the USD price of one litecoin, or the price of 1 doge and 1,000 doge.
crypto_bot litecoin|ltc [exchange]
Responds with the USD price of one litecoin from BTC-E, Bitfinex, Kraken, or Cryptsy.
Responds with the price of one bitcoin in the specified currency. Available currencies (symbols): JPY, CNY, SGD, HKD, CAD, NZD, AUD, CLP, GBP, DKK, SEK, ISK, CHF, BRL, EUR, RUB, PLN, THB, KRW, TWD.
crypto_bot [about|info] [arg]
Responds with a short description about [arg], as well as a link to an external site (Wikipedia, bitcoin.it, and some others) for more information. You can list multiple arguments and get a description for each. Available arguments: bitcoin, block chain, transaction, address, genesis, satoshi, mining, confirmation, coinbase, gox, cold wallet, hot wallet.
Responds with calculations and information about how a miner would do with the above data (mining calculator). The only required field is mining speed. Order of the arguments does not matter. Everything other than hashrate defaults to the following if not given: w (watts): 0, kwh ($kilowatt cost/hour): 0, difficulty: current network difficulty, hc$ (hardware cost): $0, $: current bitcoin price in usd (according to Coinbase), % (pool fee): 0. The calculator does not account for nor allow for input of the increase/decrease of difficulty over time, though I may add this feature soon. Working hashing speeds: h/s, kh/s, mh/s, gh/s, th/s, ph/s. Example usage: "crypto_bot calc 30th/s 10w .12kwh hc$55 1.5%" (to make it easier to remember, th/s can also be inputted as ths). This calls the bot with a hashrate of 30 th/s, electricity usage of 10w, a cost of $.12 kWh, a hardware cost of $55, and a pool fee of 1.5%.
crypto_bot number of btc <$amount to convert> [bp$bitcoin price]
Responds with the number of bitcoins you could buy with <$amount to convert>. If the comment specifies a [bp$bitcoin price], it calculates it with that exchange rate. Otherwise, it uses the rate from Coinbase. Example usage: "crypto_bot $419.29 bp$180.32" This calculates how many bitcoins you can buy if you have $419.29 and the bitcoin exchange rate is $180.32.
Signs a message in the bitcoin block chain in a transaction using OP_RETURN. The message must be less than 40 characters. Example usage: "SignMessage! "Post messages in the block chain!"" I hope you find this bot useful! Again, if you have any questions or comments, please either comment on this post, message me, or post on /crypto_bot. Update 1 (June 24, 2015, 17:35): The bot now responds with information if you post a link to a block, transaction, or address on Blockchain.info in a comment, even if you don't call it. For example, if I wrote "https://blockchain.info/block/0000000000000000126448be07fb1f82af19fbbf07dd7e07ebcd08d42c2660cb" in a comment, it would respond with information about block #362,377. Update 2 (July 10, 2015, 1:59): The bot now has two additional commands: "unconfirmed transactions" (or "unconfirmed tx") and "explain transaction delay" (or "explain tx delay"). The first command responds with the number of unconfirmed transactions, and the second explains why transactions might take extra time to confirm. Update 3 (August 24, 2015, 1:34): The bot now responds in a better way than before when transaction ids or addresses are posted. Before, it only responded when the transaction id or address was used in a link to Blockchain.info. Now the bot will respond whenever a transaction id or address is posted at all; a link to Blockchain.info is no longer necessary. Update 4 (August 27, 2015, 3:00): The bot can now sign messages in the Bitcoin block chain using OP_RETURN.
Sign-up for Binance Jersey Fiat Exchange At this time, the digital currency exchange market is filled with a wide variety of choices, therefore choosing the right exchange or trading platform can be quite a headache for both novice and veteran cryptocurrency users. Binance is a popular cryptocurrency exchange which was started in China but recently moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. While the company is still fairly new on the market ( it launched last year ), it has managed to gain a lot of popularity thanks to its impressive number of Initial Coin Offering listings, professional attitude and friendly CEO and also due to its low trading fees. Binance Website In our review, we will attempt to outline everything that you must know about Binance, including how it works, the crypto pairs that you can exchange, trading fees/limits, security aspects, and customer support. Visit Binance » How the Exchange Works Contents [Show] Those who visit Binance for the first time will quickly notice that the platform offers two options for digital currency trading- basic and advanced. Neither the basic, nor the advanced versions are bound to be easy to use for complete beginners. However, anyone with a background in digital currencies and with a bit of knowledge into how exchanges work should be able to use the platform and its different services. The main difference between the basic and the advanced version is that the advanced one offers more-in-depth technical analysis of digital currency value over time. At this time, the dashboard for the basic version offers several graphs and charts for the pairs that you’re trading, order books, and trade history. 3Commas This is what the basic view looks like : Binance Trading View The Basic view is nicely designed and well laid out, all the information you need is clearly presented with prices on the left, graphs in the center along with the buy and sell boxes and the trade history is presented on the right so you can quickly see what the latest trade prices were. And this is what the advanced view looks like: Advanced View The advanced view uses a dark theme and makes the trading charts larger and the latest trade prices are displayed on the right with the buy sell boxes underneath. Which you choose is a matter of preference really, I like the lighter colored basic view and find the layout a little easier to use. Binance Signup & Login To use the exchange, users will first have to create an account. The process behind this is fairly simple and straight-forward and you don’t have to verify your account for level 1 which is a 2BTC daily withdrawal limit. For level 2 which allows up to 100BTC per day, you need to upload a photo ID and wait till you are approved. There are higher limits still, but you will need to contact them directly to arrange that. Time for verification can vary depending on how busy the site support staff are, so make sure to plan ahead if you wish to withdraw larger amounts and make sure this step is complete before depositing and trading large sums on the exchange. ID Verification Now, that this is out of the way, users can go ahead and fund their Binance account. While you can choose from a multitude of digital currencies, it is recommended that you stick with either BTC or ETH. To fund your account visit the “Funds” > “Deposits / Withdrawals” link at the top of the site and find the currency you wish to send, then click the “Deposit” button next to it which will then you give you the wallet address. You can then send your funds to this address to begin trading on the platform, depending on which currency you deposit it will take different times to show up as this is reliant on that currencies blockchain. Some currencies like Ethereum are faster than Bitcoin which can take a while. Binance Wallets Now that your account is funded, you can simply start trading, exchanging and investing in various digital currency pairs. Binance offers plenty of choices, as they support all major digital currencies, but also numerous ICO listings and their respective tokens. At this time, the platform can only be used to generate limit and market orders. This has been considered a disadvantage by some, as many expected trading options that would be more advanced. Following the placement of your order, simply wait for it to be fulfilled according to the terms that have been set. How to Trade on Binance Trading on Binance is fairly straight-forward if you have used any other cryptocurrency exchange before. To get started, make sure you have deposited some funds – there are options for trading pairs in BTC, ETH, BNB and USDT. Once you have your funds, at the top right menu, select “Exchange” > “Basic” or “Advanced” to load the trading screen. We will be using the Basic view. Binance Trading View On the right hand side, of the screen select a tab from BTC, ETH, BNB or USDT this is what you will be trading in. Then choose your desired currency from the list. You can also search here and you can create a favorites list by clicking the star next to any currencies. Choose currency to buy Once your desired currency has loaded, take note of the left-hand column which shows prices that people are willing to sell at in the top half in red and prices people are willing to buy at in green in the bottom half. The number in the middle shows the last sale price. Buy and Sell Prices Now to place a buy order, use the center box underneath the graphs and you will see the buy box is in green on the right. You can manually enter a price you wish to purchase at, but a better way is to click a number on the left-hand column. You can then enter the amount of the currency you wish to buy or click the 25%, 50%, 75% or 100% buttons which will fill it with an amount based on how much of the buying currency you have ( in this case BTC ). Buy Order Once your order is placed it will be show underneath in the “Open Orders” section until it is filled. At that point your new currency will be available under the “Deposits / Withdrawals” menu where you can withdraw it to the wallet of your choice. Supported Crypto Currencies Binance has often been praised for its wide variety of support coins. Traders can use the platform for multiple digital currencies, including, but not limited to Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, EOS, Dash, LiteCoin, NEO, GAS, Zcash, Dash, Ripple and more. As mentioned before, Binance also supports numerous tokens, as part of ICO listings. With this in mind, traders can use the platform to trade these tokens for a profit as well. Binance is currently very quick to add new coins and tokens after their ICO which usually means you can purchase them cheaply which allows for greater profit down the road. They currently offer trading pairs in BTC, BNB, ETH and USDT. Binance Markets Binance ICO & BNB Coin Another thing to note is the Binance Coin, which was issued during their own ICO. The Binance coin can be used to pay fees and it will also feature in their future plans to create a Decentralized Exchange where it will form one of the key base currencies. Purchasing the Binance coin itself looks like a good investment for the future as the exchange plans to use their profits to buy back a portion of the coins every quarter and destroy them: hence decreasing the supply and making them more valuable for holders. Every quarter, we will use 20% of our profits to buy back BNB and destroy them, until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining. Binance BNB Coin If you’d like to read more about the BNB Coin, check out our indepth guide. Binance Fees & Limits At the time of writing, Binance charges an average fee of 0.1% on each trade that a user makes. Those who choose to pay via the Binance token can get a 50% discount on the trading fee, which is absolutely great news. These are surely some of the lowest fees available at this time. Withdrawal fees tend to vary for each digital currency. For instance, 0.0005 is charged for Bitcoin withdrawals, and 0.005 is charged for ETH withdrawals. Here are some examples to give you an idea of the fees you will be paying for withdrawals: COIN CODE Fee Unit Binance Coin BNB 1 BNB Bitcoin BTC 0.001 BTC Ethereum ETH 0.01 ETH Litcoin LTC 0.01 LTC Neo NEO Free NEO Qtum QTUM 0.01 QTUM Status SNT 10 SNT Bancor BNT 1.2 BNT Eos EOS 0.7 EOS Bitcoin Cash BCC 0.0005 BCC Gas GAS Free GAS USDT USDT 50 USDT When it comes down to transfer limits, there is no limit on the number of coins that you can deposit. However, without getting verified, users are limited in terms of how much they can withdraw. Verification will establish you as a level two users, thus lifting these limits and providing a lot more freedom when using the platform. The verification process requires users to provide Binance with their full name, country, gender, a photo of passport/government-issued ID, and even a selfie with the passport. Binance Competitions A unique feature of Binance you will notice is that they regularly hold competitions with some amazing prizes. Some examples of competitions in the past include Waves and Tron. The waves competition gave away 20,000 Waves to Traders based on how many trades they have made of this currency. The other competition for Tron (TRX) gave participants the chance to win a Maserati car, Mercedes Benz car, a Macbook Pro or a iPhone X. Again, the winners were the people with the highest trading volume of this currency. The current rankings show that the person in first place had over 358 BTC volume in trades so you will need to be a whale to be in with a chance of winning first prize. There are other regular competitions though, so keep an eye on the site for your chance to enter. Is Binance Safe? While Binance is one of the newest cryptocurrency exchanges available on the market, it has quickly managed to attain a high level of trust from its users and the digital currency community. However, the exchange fails to provide users with enough information on how the funds are being secured, yet we like to believe that security is taken seriously. Two-factor authentication is available and is always a nice sight. It is however known that the platform offers a multi-tier and multi-tier system architecture. Update: In March 2018 Binance suffered a hacking attempt. The hackers tried to pull off an audacious move which was luckily caught by the automated systems in place at the exchange. For months the hackers had been accumulating people’s logins via a phishing website and secretly installing API access on the affected accounts. They then struck, converting all the victims altcoins to BTC and purchasing Viacoin, pumping the coin to a huge price and then selling their own supply of Viacoin at the high point, before trying to withdraw the BTC to their own wallets. Luckily no one lost funds as the hack was caught and the only people to lose out were the hackers, whose funds will be donated to charity. As this hack was made possible by people entering their site logins and 2FA details into a fake website, you should always make sure you are on the correct Binance url before logging in. We recommend you bookmark the site and only use that to access it, never click links from emails, Twitter, Telegram etc. This event has done a lot to instill confidence around Binance, not only did their automated processes catch the attempted hack before anyone lost any funds, they have since offered a $250,000 bounty to anyone who can help catch the hackers. Throughout this event, Binance acted exemplary and have been praised for their swift action in resolving this. Binance Customer Support For an exchange to be successful, it requires a great customer support team, capable of answering all user questions and requests in a timely manner. While the support area on Binance could use a little work, the team is responsive and capable of offering professional aid to traders in need. Support tickets are submitted via an online form featured on the website, and responses are made via email. There is currently no live chat support, nor a phone number where customers can get in touch with the support team. Binance Customer Support Other than the CS team, Binance offers a couple of FAQs and articles meant to help users get accustomed to the exchange and the way it works. Binance FAQs It should be noted that customer support on Binance has been known to be slow to respond to customer requests. This is a familiar phenomenon with most of large exchanges and is due simply to the volume of users and amount of support staff. The exchanges have grown at an explosive rate this past year and the companies simply haven’t been able to keep up with demand. Binance grew fast especially, going from launch to the largest exchange on the planet in a few short months. Support staff for exchanges have to be carefully vetted and trained due to the technicalities and security requirements involved – unlike other traditional companies where staff can be trained quicker. Some things to bare in mind are double-checking wallet addresses, make sure you are sending the correct cryptocurrency to it’s corresponding address on the site. Mixups with wallets are one of the biggest mistakes people make when using exchanges. Other things to note are, try a smaller test payment first if you plan to transfer large sums – it may cost you a little more in fees but will be worth it for peace of mind. If you do need to contact support, make sure you provide them with enough information to be able to help you first time. Include wallet addresses, times of transactions and any other information you think they might need to help speed up the process. The Move to Malta In March 2018, Japanese Newspaper Nikkei reported that Binance was trading in Japan and not following their official regulations. This caused some turbulence in the markets until Binance made an official announcement that they were going to be moving operations to the crypto-friendly island of Malta in Europe, stating : After reviewing several different locations, the company decided to invest in the European nation due to its existing pro-blockchain legislation and the stability that it offers financial technology companies through its regulatory framework. This is good news for the company and they even received a warm welcome from the Prime Minister of Malta on Twitter. Binance also announced that they were in talks with Maltese banks with the goal of providing Fiat transactions, meaning they can offer an on-ramp for fiat to crypto transactions in future along with fiat trading pairs on the exchange. More good news for Binance, it seems as their profile and reputation within the industry continues to grow. Launching a Decentralized Exchange More recent news for Binance and what seems like good news BNB holders is the fact that they are planning to launch their own Decentralized Exchange ( DEX ): “After extensively researching decentralized exchange frameworks and analyzing existing implementations, we believe significant improvements can be made in providing Binance users with a level of trading experience to which they are already accustomed. Centralized and Decentralized exchanges will co-exist in the near future, complementing each other, while also having interdependence.” The BNB digital asset, now an ERC-20 token, will migrate as the native token of that network and be used for paying the trading fees on the new exchange. Launching a Decentralized Stock Exchange More good news recently for Binance is that they are partnering with Neufund to build the world’s first Decentralized Stock Exchange. Alongside the Malta Stock Exchange, they are aiming to create a regulated and decentralized, global stock exchange for listing and trading tokenized securities alongside crypto-assets. According to CapLinked, the market cap of equity tokens alone is projected to reach $1 trillion by 2020 and thanks to the partnership with MSX, a subsidiary of the Malta Stock Exchange and Binance, Neufund will become the first end-to-end primary issuance platform for security tokens, in particular, equity tokens. It will secure ways for secondary trading of equity tokens and enable companies around the world to fundraise on Blockchain in a legal way while offering much-needed liquidity. This is more positive news for Binance as they aim to consolidate their position as the world’s number one Crypto Exchange. Binance Jersey Launch – Now Supports Fiat to Crypto As of 16th January 2019, Binance has announced the launch of a new Fiat to Crypto exchange named “Binance Jersey“. The trading platform is live and active and allows you to trade in fiat currencies such as euros and pound sterling, with Europe being their target market. We have now carried out a full review of Binance Jersey, so take a look for more indepth details about the new platform. Binance Jersey Visit Binance Jersey » At the time of writing they are only offering four trading pairs with more to follow soon: BTC / EUR BTC / GBP ETH / EUR ETH / GBP Supported Jurisdictions: Argentina Eswatini (formerly Swaziland) Latvia Romania Armenia Finland Liechtenstein Singapore Australia France Lithuania Slovakia Austria Germany Luxembourg Slovenia Azerbaijan Gibraltar Macau South Africa Belgium Greece Malta South Korea Brazil Hong Kong Mauritius Spain Bulgaria Hungary Mexico Sweden Canada Iceland Monaco Switzerland Chile Ireland Netherlands Turkey Croatia Israel New Zealand United Arab Emirates (UAE) Cyprus Italy Norway United Kingdom (UK) Czech Republic Jamaica Peru Uruguay Denmark Japan Poland Estonia Jersey Portugal Customers who wish to trade in the support fiat currencies will need to carry our KYC procedures by uploading their ID documents such as passport and driving license. Wei Zhou, Binance’s CFO released this statement about the launch : “Expanding the cryptocurrency exchange markets with fiat currencies in the European region is opening new economic opportunities for Europeans as well as freedom from looming Brexit uncertainty where the pound and euro are also in concern. Through Binance Jersey, we want to help bridge the crypto-fiat channel for Europe and the U.K. as part of our global expansion to support broader cryptocurrency adoption”. If you are familiar with trading on Binance, then you will feel at home on their new exchange – it uses the same engine and the trading screen is laid out in the same fashion with the option to choose between Basic and Advanced views: Binance Jersey Trading Screen To fund your account in fiat, you will first need to complete the KYC process, once that is done you can then deposit funds directly from your bank account by linking it from the Deposits screen. You can also fund your account with BTC or Ethereum. Once you have your account setup and bank account linked, you can also withdraw funds in fiat currency – this is great news as Binance is now able to offer a way for investors to cash out their cryptocurrencies. We have upgraded our review scores below and we feel this is a huge improvement to Binance’s Exchange offering, if they manage to roll this out to even more countries ( USA is currently excluded) it could be a game changer as people now have an extra, regulated fiat on and off ramp for their holdings. Buying Bitcoin with Australian Dollars On March 20, 2019, Binance announced the launch of Binance Lite Australia, the continent’s first fiat gateway to the world of cryptocurrencies which provides a secure, reliable, and easy to use way to buy Bitcoin with cash in Australia. The cash-to-Bitcoin brokerage service operates via a network of over 1,000 newsagents across Australia, and currently allows anyone to buy Bitcoin using Australian Dollars (AUD), and there are plans to include additional digital currencies and fiat purchasing options in the future. Users must first undergo account verification on Binance Lite, and after being successfully verified, users can place online orders and deposit cash at their nearest newsagent, in order to receive their pre-ordered Bitcoin. The Binance Lite brokerage service is operated by InvestbyBit, an independently operated subsidiary of the Binance.com cryptocurrency exchange. The service aims to simplify the process of purchasing cryptocurrencies and make digital assets such as Bitcoin readily accessible across Australia. Fees A 2.5% transaction fee (50% discount applied) plus GST on the transaction fee for each purchase is currently being charged as an introductory rate. Therefore, for a $50 order, the transaction fee will be $1.22 and the GST will be 10% of the transaction fee, which is $0.12. Limits The system is currently in its Beta phase, and the minimum purchase amount has been lowered to $30 with the maximum purchase amount capped at $1000. These limits may change over time and only multiples of $10 are being accepted, such as orders for $50, $60, $70 etc. Verification First time customers are required to go through a one-time Know Your Customer (KYC) document verification. When using the service, it’s necessary to follow the instruction prompts after the order page and go through the verification. In order to complete the verification process, it’s necessary to submit 1 or 2 forms of government issued ID documents as a Passport, Driver’s Licence, or Medicare card, in addition to your residential address. Any returning customers, who have already completed KYC verification, will be sent to the order summary page directly after opening a new order. Each account is linked to a mobile number, and users should ensure to use the mobile number provided when first completing the verification process. Anyone choosing to use a new mobile number will be required to complete the ID verification process once again. Paying by Debit and Credit Card Binance allows users to make debit and credit card payments for cryptocurrencies via a partnership with Simplex. It’s possible to purchase Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and XRP tokens by Visa and MasterCard and the benefits of using a debit or credit card on Binance include: Swift Transfers: Average 10-30 mins for cryptocurrency to reach your wallet Low Fees: only 3.5% per transaction or 10 USD, whichever is higher Convenient: Visa and MasterCard accepted In order to purchase the supported cryptocurrencies with a debit or credit card, users can first go through the official instructions page and then visit: https://www.binance.com/en/creditcard. Binance Launchpad and Initial Coin Offerings (IEOs) Binance Launchpad is the exchange’s token launch platform that aims to connect blockchain projects with the greater cryptocurrency community and enable projects to raise funds while interacting with Binance’s significant user base. In December 2017, the BREAD and GIFTO projects were able to hold successful token sales on Binance Launchpad and projects such as BitTorrent and Fetch.AI have also held successful launches in 2019. The platform makes use of the exchange’s native BNB token and rewards users for holding the token as well as allowing it to be used to participate in token sales. Read: What is an IEO? How Token Offerings Work on Binance Launchpad The ability to part in token offerings continues to attract a significant amount of users to Binance and it’s necessary to go through a number of steps in order to get used to the Launchpad platform. Anyone interested in a project should first go to the Binance Launchpad website and click on the project page and thoroughly research any of the projects on offer. If not already done, it’s also necessary to complete your Binance account verification, as token sales are carried out in compliance with the regulatory requirements in supported user jurisdictions. The Lottery System Binance Launchpad operates a lottery system which sees that the number of lottery tickets you can claim being dependant on the amount of BNB tokens you hold in your Binance account over a 20-day period leading up to the day of the lottery, with a maximum of up to 5 tickets per eligible account. The 20 days leading up to the lottery draw date is represented by X below, and by example, 100 ≤ X < 200 means that your BNB balance over the entire 20-day period is kept at 100 BNB or more, but does not exceed or reach 200 BNB. A snapshot at 0:00 AM (UTC) each day records each user’s BNB balance, and should your BNB balance drop below the minimum balance required on any given day during the 20-day period, they will be put into the lower threshold. For example, if User A holds 301 BNB for 19 of the 20 days but their balance drops to 299 BNB on one day. They will move to the lower threshold and only be eligible to claim 2 lottery tickets. Before the actual lottery date, users are given a 24 hour period to select how many lottery tickets they wish to enter, with the maximum number based upon their BNB holdings over the previous 20 days. Here, if a user submits an entry of 5 tickets and 2 tickets end up winning, they are committed to pay for 2 ticket allocations (in BNB) for the tokens. Each lottery ticket has a unique number with multiple lottery ticket holders, obtaining tickets with consecutive numbers. For example, when claiming 5 tickets, the tickets may be numbered 100010, 100011, 100012, 100013 and 100014. Once the 24 hour period ends and all tickets have been fully issued, Binance begins to randomly select multi-digit numbers. These are matched against the tail digits of all issued tickets in order to determine the list of winners. The selection process continues until the maximum number of winners are matched, and the respective BNB is deducted from each winning user’s balance, as soon as they are deemed a winner. Binance announces the maximum number of potential lottery ticket winners, and the allocation amount corresponding to each winning ticket in advance. Conclusion Currently, the matching engine of the exchange is capable of processing approximately 1.4 million orders each second, hence making it one of the fastest exchanges available on the market. Additionally, the exchange works on all forms of devices, including web, Android, WeChat, and HTML5. Non-English speakers will be happy to know that Binance offers multiple-language support in Chinese, English, Korean and Japanese. Based on everything that has been outlined so far, Binance is undoubtedly the leading Cryptocurrency Exchange and offers great fees and awesome digital currency support. As it reportedly has access to abundant resources and partners, chances are that Binance will continue to evolve and offer great digital currency exchange services to its clients. We are happy to recommend Binance and have added it to our list of the Best Cryptocurrency Exchanges. Update, April 2019: We have continued to update this review since Binance was first launched ( we were one of the first to offer a review of the platform at the time ). And as time has progressed, time and time again Binance have proven to be one of the very best, if not the best, exchanges available. Their CEO Changpeng Zhao (CZ for short) has been part of the cryptocurrency community and shown high standards of integrity. Binance the exchange has continued to innovate, bringing new products to market and new options for purchasing and trading cryptocurrencies to all corners of the globe.
Below is a list of websites/services that can be used to buy RDDs (Reddcoin). It's mostly intended for newcomers and for those that want to buy RDDs but don't know where or how.
If you are missing information or have an addition or correction, please post in this thread. I'll try to keep this post updated. Also, post any questions you have!
Fiat currency - direct
Examples of fiat currency: USD (United States dollar), EUR (euro), GBP (pound sterling). This section covers buying Reddcoin directly with fiat currency, so (for example) without buying BTC (Bitcoin) first.
Must register and verify before an INR deposit can be made. More about INR deposits on KoinOK: click.
Fiat currency - indirect
This section covers buying Reddcoin indirectly with fiat currency. This means buying a major cryptocurrency first (like BTC (Bitcoin) or ETH (Ethereum)) with fiat currency, and then buying Reddcoin with that major cryptocurrency. So, for example: USD -> BTC; BTC -> RDD. Use the exchanges at the bottom to buy RDDs (Reddcoin) with a major cryptocurrency (like BTC (Bitcoin)).
An exchange is traditionally an online market where a various cryptocurrencies are bought and sold. Exchanges bring together a groups of sellers and buyers to facilitate the trading of currencies. Exchanges offer different tools to help the traders, (both the buyers and the sellers). Most markets offer cryptocurrencies to cryptocurrencies trading with some markets offering Fiat to cryptocurrencies and vice-versa.
https://preview.redd.it/d1z4skvl0ec21.png?width=640&format=png&auto=webp&s=600d32a6c185202dff282e4bb5188491a80d0beb It’s likely that the blockchain ecosystem wouldn’t be at the stage of development it is at without the passionate decentralisation and blockchain enthusiasts who contributed to Bitcoin and cryptocurrency’s meteoric increase in notoriety over the past few years. While this technology will undoubtedly revolutionise industries moving forward, its current nascency means there’s a significant rift between the enthusiasts, and those who might have never heard of crypto. Each are at opposing ends of the spectrum, and very little is being done to bridge the gap. For business owners, putting in 60+ hour weeks to fuel your passion means there’s probably not a slot on your calendar marked “Work out what the hell cryptocurrency is”, so when you hear about Liven’s plan to let thousands of Aussie businesses be paid and issue rewards in crypto, we understand there might be some concern. A common question with LivenCoin, Liven’s new digital currency for food, is if merchants and business owners looking to join our dedicated payments and marketing network will be forced into accepting cryptocurrency. This will not be the case.
We know business owners have no desire to add another complicated layer to the operation of your business, nor learn about and implement new facilities to start accepting crypto. With Liven, neither of these things will be an issue whether you’re crypto savvy or not. Once Liven switches to its blockchain-based payments platform later this year, current merchants and new merchants who join will be given three different options:
1) Keep accepting the fiat currency of your region (AUD, USD, GBP etc)
When a customer pays with cryptocurrency, the default payment is always in fiat currency — your local currency. Choosing this option will mean all payments made to you will be instantly converted into the national fiat currency used in your country of operation (such as Australian Dollars). This conversion is handled by Liven, so the money entering your account will always be fiat currency — no worrying about complicated online exchanges or anything like that. Basically nothing changes from your current use of Liven, unless you want it to. The only thing that will change is the rewards provided to customers, issued as an intrinsically valued digital currency rather than LivenCash, our virtual network currency.
2) Accept fiat currency and LivenCoin (LVN)
We call this option “the best of both worlds”. This is for the merchants who are crypto-curious — keen on dipping your toe in the pond but not quite ready to dive in headfirst. Just let Liven know how much you’d like to be paid in either, and it doesn’t have to be a 50/50 split either. Want $10 in AUD and $5 in LVN? We can do that.
3) Getting paid all in crypto
For any merchants keen on embracing the future of payments technology, this option is for you. Once customers have paid and received their rewards, your business will be paid the corresponding value in LVN, set at the time of purchase through Liven’s dynamic rewards curve. It’ll then be up to you to handle your LVN how you like, the world is your crypto oyster. With these options, merchants on Liven will be able to have full crypto, no crypto, and anywhere in between, all implemented seamlessly through Liven’s existing payments platform. We know crypto can be a scary concept, so we’re making sure our merchants can be involved at any level they want. You’re also not locked into a single option, just get in touch with Liven and we can discuss changing how you’re paid through our platform. Regardless of what you choose, being on Liven means you’re accelerating the everyday adoption of cryptocurrencies, and are well-prepared for the future of payment technology. Click here to learn more about becoming a Liven partner.
Read more about how TheLivenPayproject is building a stable cryptocurrency for the real world, and making the capabilities and benefits of blockchain technology accessible for brick and mortar businesses and everyday consumersin Liven’s community whitepaper.
I am really new to bitcoin and need clarity on what Ive researched so far..
I want to invest around 1k AUD in crypto, namely in ethereum and bitcoin. Are these assumptions correct? 1.I need to sign up on an exchange to get started; either buying crypto or selling.
I need a wallet, either a paper one, a mobile app one, a computer one or a hardware wallet like a usb device like trezor. A wallet enables me to keep my crypto currency safe.
But to be able to send or keep my crypto currency I need a private key and an address. The address is where people can send currency to me, and a private key is like a password to my wallet? Or password to my account and not the wallet?
Am I right in assuming if I buy trezor for example, it will generate an address and a private key for me? Otherwise where do I get them?
If I buy trezor, i need to carry it around with me to buy, sell, trade and view my balance of crypto currency.
To change crypto currency back to fiat money or cash, I need to do it through the same exchange where I buy my crypto currency.
It is not safe to keep crypto currency on an exchange, since they can be exploited or hacked. It is better for me to buy the currency and then transfer the currency to my wallet. How do I do this, im not sure.
Does the exchange rate matter when converting crypto currency into fiat money? Because I live in australia, does it matter if I convert say bitcoin into usd and then aud? Or do I lose less money exchanging from bitcoin straight to AUD?
I can mine, but that requires more maintenance and money. But mining does allow you to profit through the transaction fees when people sell what you mined.
US Futures, Global Markets Slide, Spooked By Trump Trade Comments
US index futures and European shares slumped on Tuesday in a volatile, illiquid session punctuated by some headline confusion, while gains in Asian equities were limited after President Donald Trump said he still intends to go ahead with raising tariffs on China imports from 10% to 25% and that it was highly unlikely he would accept China’s request to refrain from the increase, just days before meeting with his counterpart Xi Jinping. While ES losses were modest, it is worth noting that earlier in the session, S&P futures swung sharply, gaining as much as 0.5%, then falling back into negative territory, after algos misinterpreted comments from China foreign ministry spokesman Geng Shuang. As we reported earlier, during a media briefing Geng first said that Presidents Trump and Xi agreed to reach mutually beneficial agreements, sparking a vicious rally in futures. Just moments later, however, futures erased gains when Geng later said he was referring to a phone call on Nov. 1. The result was the following: Following these fireworks, contracts on the Dow, S&P and Nasdaq pointed to a drop at the opening, while Treasuries and the dollar held steady before the Fed’s top two officials were set to speak in the next 48 hours. European equities gave up initial gains and posted small losses as basic resources and travel names underperformed, with the Stoxx Europe 600 Index edging modestly lower (-0.1%), led by raw materials producers, while bonds rose across Europe and the euro currency edged lower. The pound weakened as traders mulled prospects for parliamentary approval of the Brexit deal, which Trump said could jeopardize Britain’s ability to strike a trade pact with the U.S. Earlier in the session, Asian markets were mostly positive as the region took impetus from the performance on Wall St, where all majors finished with firm gains on return from the Thanksgiving weekend and with retailers buoyed on the back of Black Friday and Cyber Monday sales. ASX 200 (+1.0%) and Nikkei 225 (+0.6%) were lifted from the open with Australia led higher by tech and financials, while a pullback in USD/JPY limited the upside for the Japanese benchmark. Elsewhere, Hang Seng (-0.2%) and Shanghai Comp. (+0.1%) were mixed with China somewhat dampened by Trump’s hardball tactics ahead of the meeting with Chinese President Xi at this week’s G20, in which he suggested an intention to proceed with raising tariffs on China imports from 10% to 25% and also warned to place tariffs on the remaining USD 267bln of Chinese imports if they fail to reach a favourable outcome for the US. Furthermore, a slowdown of Chinese Industrial Profit growth and concerns in the Hong Kong property sector also contributed the cautiousness in Chinese markets. In addition to today's 8:30am ET comments from Fed vice chair Clarida, trade remains firmly in investors’ minds before leaders of the two biggest economies meet in Buenos Aires at the end of the week. Trump's comments that it is likely the US will slap tariffs on the remaining Chinese imports and raise tariffs on existing tariffed products have weighed on optimism for U.S. stocks, which climbed on Monday amid hopes a strong start to the holiday season thanks to record online sales will keep growth on track. Meanwhile, Fed speakers will be closely watched for any indications of a change in Fed thinking over continued rate hikes. Today Fed vice chair's New York speech at 8:30am will be the main attraction, while Chair Powell’s speech on Wednesday will be parsed for any hints on prospects for a pause in rate increases next year after traders reduced expectations for the pace of monetary policy tightening. Elsewhere, emerging market currencies weakened and their shares traded little changed. Bitcoin steadied near $3,700 after plunging 14 percent Monday. In overnight political news, US Special Counsel Mueller's office said former Trump campaign manager Manafort lied to FBI and Special Counsel in violation of plea agreement. In commodities, Brent (+0.2%) and WTI (Unch) are nursing initial losses as focus starts turning to the G20 summit over the weekend where markets may get initial hints of what to expect at the Dec 6th OPEC meeting in Vienna. The Saudi Crown Prince, Russian President and US President are to meet, possibly on the side-lines to decide the future of the global oil market. Talk around the market notes that Prince Mohammed Bin Salman may not able to defy US President Trump’s aim for lower oil prices after the White House stood behind the prince in regard to the killing of journalist Khashoggi. Nonetheless, traders will be watching the summit closely, while in the nearer-term, today will see the release of the weekly API where forecasts see headline crude stockpiles printing a drawdown of 0.6mln barrels. Gold is trading relatively flat as the dollar holds steady following comments from Trump that overnight that he still intends to raise Chinese import tariffs to 25%; these comments come ahead of this week’s G20 summit. Additionally, US-China trade pessimism has caused copper prices to fall for the 3rd consecutive session due to demand concerns. Iron ore futures have dropped to their lowest level in over 4 months, dropping by 5% over concerns that steel prices are to remain pressured by slower demand. Expected data include Conference Board Consumer Confidence. Bank of Nova Scotia, Couche-Tard, and Salesforce are among companies reporting earnings. Market Snapshot
S&P500 futures down 0.2% at 2,663.0
STOXX Europe 600 up 0.07% to 358.59
MXAP up 0.4% to 151.86
MXAPJ up 0.3% to 486.89
Nikkei up 0.6% to 21,952.40
Topix up 0.7% to 1,644.16
Hang Seng Index down 0.2% to 26,331.96
Shanghai Composite down 0.04% to 2,574.68
Sensex up 0.5% to 35,524.01
Australia S&P/ASX 200 up 1% to 5,728.28
Kospi up 0.8% to 2,099.42
German 10Y yield fell 1.2 bps to 0.349%
Euro down 0.04% to $1.1323
Italian 10Y yield fell 13.6 bps to 2.9%
Spanish 10Y yield fell 2.6 bps to 1.536%
Brent futures up 0.6% to $60.83/bbl
Gold spot little changed at $1,223.10
U.S. Dollar Index up 0.1% to 97.15
Top Overnight News from Bloomberg
President Donald Trump said he’ll likely push forward with plans to increase tariffs on $200 billion of Chinese goods, indicating he would also slap duties on all remaining imports from the Asian nation if negotiations with China’s leader Xi Jinping fail to produce a trade deal
U.K. Prime Minister Theresa May will put her Brexit deal to Parliament for a decisive vote on Dec. 11, but after her plan was savaged from all sides, the signs are she’s on course to lose. President Trump Says Brexit deal could hurt plans for trade pact with U.S.
The Brexit deal negotiated by Prime Minister Theresa May will lower economic output over the coming decade compared with staying in the European Union, researchers said. The deal would lower gross domestic product per capita by between 1.9 percent and 5.5 percent versus EU membership, according to a joint paper. Leaving without a deal could lower output per head as much as 8.7 percent.
Italy’s populist government failed to thrash out a new deficit target for the European Union in late night talks but cracks are starting to show in its battle with the bloc over spending
Donald Trump plans to keep Treasury Secretary Steven Mnuchin and Commerce Secretary Wilbur Ross amid speculation of a broader shakeup in the president’s Cabinet, according to three people familiar with his thinking
European Union Trade Commissioner Cecilia Malmstrom sounds an upbeat note about EU talks with the U.S. on revamping global commercial rules while saying the verdict is out on whether President Donald Trump’s administration will stay engaged
The Turkish lira - - on track for its best November since 2002 -- is once again turning into a favorite for fast-money investors and hedge funds. Short-term carry positions have increased by an estimated $5.4 billion since the end of August, according to QNB Finansbank, an Istanbul-based lender
The Brevan Howard Asia Fund bucked a difficult October for macro funds, and is posting its best return in five years, according to a person with knowledge of the matter
Asian equity markets were mostly positive as the region took impetus from the performance on Wall St, where all majors finished with firm gains on return from the Thanksgiving weekend and with retailers buoyed on the back of Black Friday and Cyber Monday sales. ASX 200 (+1.0%) and Nikkei 225 (+0.6%) were lifted from the open with Australia led higher by tech and financials, while a pullback in USD/JPY limited the upside for the Japanese benchmark. Elsewhere, Hang Seng (-0.2%) and Shanghai Comp. (+0.1%) were mixed with China somewhat dampened by Trump’s hardball tactics ahead of the meeting with Chinese President Xi at this week’s G20, in which he suggested an intention to proceed with raising tariffs on China imports from 10% to 25% and also warned to place tariffs on the remaining USD 267bln of Chinese imports if they fail to reach a favourable outcome for the US. Furthermore, a slowdown of Chinese Industrial Profit growth and concerns in the Hong Kong property sector also contributed the cautiousness in Chinese markets. Finally, 10yr JGBs were uneventful as prices took a breather from its extended but gradual uptrend and with today’s 40yr auction largely ignored despite increases in the b/c and accepted prices. Top Asian News - Hong Kong’s Home Market Suffering Worst Declines Since 2016 - Day Two Rebound in Asia Stocks Closes an Eye on Trade Rhetoric - Genting Malaysia Says Fox World Lawsuit Won’t Impact Operations European cash indices gave up initial gains (Eurostoxx 50 -0.1%) following a relatively flat open after pre-market gains in index futures were short-lived. Equity futures staged a pre-cash open rally after it was reported that a Chinese Foreign Ministry spokesman was quoted as stating that US President Xi and US President Trump had agreed to mutually beneficial agreements. However gains in futures markets were pared after it was later reported that this was in reference to a November 1st phone call and thus was viewed as stale by the market, particularly considering the hardball interview by Trump in the WSJ yesterday ahead of this week’s G20 summit. On an index basis, the SMI lags its peers (-0.5%) with Credit Suisse (-1.7%) lower following a broker downgrade at Credit Suisse. In terms of sector specifics, performance is relatively mixed with slight underperformance in material names in-fitting with recent price action in the complex. To the upside, utility names modestly outperform, albeit the moves thus far across the board are relatively small in terms of magnitude. Individual movers this morning include Dialog Semiconductor (-1.4%) amid Apple-inspired losses (post-Trump threat of potential tariffs on iPhones and laptops), Apple share are down 1.7% pre-market. Elsewhere, Rexel (+1.9%) are firmer following a broker upgrade at Credit Suisse, Thomas Cook (-24.5%) shares are notably underperforming following a disappointing trading update, dragging Tui (-4.2%) lower in sympathy. Top European News
StanChart Is Said to Weigh a Simpler Structure to Control Costs
Bain Is Said to Explore Takeover Bid for Germany’s Osram Licht
UBS Takes Profit on Italy Two-Year Bonds as Budget Tensions Cool
Thomas Cook’s Dismal Year Gets Worse With Latest Profit Warning
Italy Compromise Has Convinced One Fund to Add European Banks
In FX, the DXY was overall bid vs G10 counterparts with the aid of the GBP weakness due to the latest Brexit developments. Moreover, Citi’s rebalancing model points to modest USD buying vs. peers going into month end, while Nordea also notes tomorrow’s HIA which is the cut-off date if companies wish to convert foreign currency into USD along with SOMA that happens to fall on Friday as well. The index is currently hovering above 97.000 within a narrow range around the big figure.
GBP– The standout underperformer vs. peers amid comments from UK Remain loyalist Fallon who said it may be possible to delay the date UK leaves the EU to renegotiate a better deal, inflicting a blow to UK PM May’s so-called “best deal”. As such Cable fell to a low print of 1.2734 ahead of the mid-November base at 1.2724, having already given up the 1.2800 handle following comments from US President Trump who noted that UK may not be able to trade with the US, in an interview last night. If the mid-November low (or Raab trough) is breached, the next levels to note are 1.2696 (October low) and 1.2662 (YTD low). However, looking further ahead Credit Suisse is more optimistic on the outlook for Sterling, with their Cable forecast at 1.4000 by end-2019
EUR– Holding up well vs. the pound above 0.8850 but not quite challenging the 100DMA 0.8884, though the single currency is lower vs. the buck, with the pair tripping some stops at 1.1310. Obviously, 1.1300 is nearest support and if breached more stops are reported at 1.1290.
NZD,AUD– Notable, albeit marginal G10 outperformers vs. the buck, with the Kiwi staging another recovery following the weak data (trade overnight), and now looking ahead to the RBNZ semi-annual FSR tonight. NZD/USD hovering just below 0.6800 and AUD/USD near the middle of a 0.7270-15 band.
In commodities, brent (+0.2%) and WTI (Unch) are nursing initial losses as focus starts turning to the G20 summit over the weekend where markets may get initial hints of what to expect at the Dec 6th OPEC meeting in Vienna. The Saudi Crown Prince, Russian President and US President are to meet, possibly on the side-lines to decide the future of the global oil market. Talk around the market notes that Prince Mohammed Bin Salman may not able to defy US President Trump’s aim for lower oil prices after the White House stood behind the prince in regard to the killing of journalist Khashoggi. Nonetheless, traders will be watching the summit closely, while in the nearer-term, today will see the release of the weekly API where forecasts see headline crude stockpiles printing a drawdown of 0.6mln barrels. Gold is trading relatively flat as the dollar holds steady following comments from Trump that overnight that he still intends to raise Chinese import tariffs to 25%; these comments come ahead of this week’s G20 summit. Additionally, US-China trade pessimism has caused copper prices to fall for the 3rd consecutive session due to demand concerns. Iron ore futures have dropped to their lowest level in over 4 months, dropping by 5% over concerns that steel prices are to remain pressured by slower demand. Looking at the day ahead, we’ll get various house price data points including the September FHFA house price index reading, Q3 house price purchase index reading and September S&P CoreLogic house price data. On top of that we’ll get the November consumer confidence survey which is expected to slip nearly 2pts to 135.8 in light of the recent wobbles in the equity market. That is, however, in the context of the 18-year high that the index reached last month. Away from the data, there will be plenty of focus on Fed Vice-Chair Clarida’s speech in New York today at 8.30am ET, especially around the topics of how he characterizes recent volatility in markets and the prospects for domestic and global growth. Fellow Fed officials Bostic, Evans and George will also speak while the ECB’s Nouy, Costa and Mersch also speak at various stages. It’s worth also noting that starting today and continuing until Thursday, the three top candidates to take over from Merkel as head of the CDU will hold panel debates. US Event Calendar
9am: S&PCoreLogic CS 20-City MoM SA, est. 0.2%, prior 0.09%; CS 20- City YoY NSA, est. 5.2%, prior 5.49%
8:30am: Fed Vice Chairman Clarida Speaks in New York
9am: S&PCoreLogic CS 20- City NSA Index, prior 213.7; CS US HPI NSA Index, prior 205.8
2:30pm: Fed’s Bostic, Evan and George Speak on Panel
DB's Jim Reid concludes the overnight wrap We took our three year old Maisie to the building site that is our new house over the weekend and this may have been a mistake as over the last two days she keeps on asking us why our new house is broken. She was particularly upset that a lot of windows and walls were missing and said she doesn’t want to live there as it would be too cold. Meanwhile Daddy’s bank account feels broken this morning as there was talk yesterday that one of our big suppliers might be about to call in the administrators. They have a healthy deposit of ours so it’s very annoying. It’s fair to say that costs are escalating from all angles and the EMR may need to still be running from an old people’s home in 50 years time to fund this. From broken houses to slightly less broken markets. Given that the two Mondays prior to yesterday had seen moves of -1.66% and -1.97% for the S&P 500, yesterday reversed the trend as better news percolated through on some of the negative stories that have dominated of late. The S&P 500 closed last night +1.56% with the DOW and NASDAQ also up +1.46% and +2.06% respectively. The NYFANG index advanced +3.72%, despite Apple’s underperformance (initially down -1.18% before rebounding to close +1.35%) as the US Supreme Court signalled its willingness to hear a class action lawsuit over its app store pricing. Financials really led the way with the S&P Banks index rallying +2.30% for its best day since July. They had their European counterparts to thank for that, with the STOXX Banks index (+2.91%) seeing its best single day performance since July 2017. The broader STOXX 600 closed +1.23% and DAX +1.45%. Italy was the main catalyst as sentiment improved on the potential for more positive negotiations with the European Commission. As we reported yesterday, the weekend saw less confrontational remarks from Salvini and Juncker. In addition, Salvini said yesterday that the government is “not getting stuck” over the decimals in the deficit target while fellow Deputy Premier Di Maio confirmed that “if, as part of the negotiation, we need to reduce the forecast deficit slightly, that’s not important to us.” Di Maio went on to say that “the issue is not the conflict with the EU on a deficit of 2.4%, what’s important is that not even a single person is kept out of the core measures.” Prior to this, we also had headlines on Bloomberg suggesting that an official for the League had said that the Government was looking at a new deficit target of 2.2% to 2.3%. Late in the evening, political leaders Conte, Salvini, and Di Maio released a joint statement after their meeting, confirming their less confrontational tone and again deemphasising the decimal place of the deficit number. As we go to print headline are coming through from Italian finance minister Castelli that the deficit target is “almost certain” to be 2.2%. The question on everyone’s lips is what is the compromise number that the European Commission could realistically accept? A deficit in the 2.2% area is still unlikely to satisfy the EC, however a willingness to negotiate might be seen as the Italian government being aware of the implications of its actions. The Commission could even accept a somewhat vague framework as a rationale to defer a formal decision on Italy until into 2019, potentially alleviating some of the near-term event risk for Italy-linked assets. Before all this news the FTSE MIB closed yesterday up +2.77% while Italian Banks (+4.83%) had their best day since June. Two- and ten-year BTPs rallied -11.2bps and -13.8bps respectively – albeit off their yield lows for the session. Speaking of Italy, the ECB’s Peter Praet said yesterday that there has been very limited spill-over from a tightening of financial conditions in Italy to the broader Euro Area, but that conditions in Italy are “unsustainable” and “so something will have to give.” Praet’s general tone outside of this was constructive. His comments suggested that QE will finish in December as widely expected, but also that the ECB will have to clarify was it meant by “reinvesting for an extended period of time.” Praet also confirmed that guidance is “a very strong expectation” but also noted that “downside risks have increased noticeably.” This was notable as the Council has previously said that risks are “balanced.” Praet’s speech raised the anticipation levels for Draghi, who spoke in the afternoon. While his speech was virtually a copy and paste from his last on November 16th, he was later quoted as saying that “world growth momentum has slowed considerably” which is much stronger language compared to that used in the past. The December 13 ECB meeting will be key, and our economists still expect the Governing Council to announce the end of QE. Incoming data will dictate the evolution of policy, but we still expect growth and inflation to progress sufficiently to allow for an interest rate hike in September 2019. Praet and Draghi are scheduled to speak again this week, on Wednesday and Thursday, respectively. We’ll also get several consequential communications from Federal Reserve officials, with speeches scheduled today for Vice Chair Clarida, tomorrow for Chair Powell, and Friday for NY Fed President Williams. The bottom line so far is that he doesn’t think there is sufficient evidence to ratify the market’s dovish interpretation of recent Fed communications, though that could change depending on what the Fed leadership says about the neutral rate, financial conditions, and global growth. So an important couple of speeches today and tomorrow from Clarida and Powell. This morning in Asia markets are largely higher with the Nikkei (+0.88%), Shanghai Comp (+0.42%) and Kospi (+0.84%) all up while the Hang Seng (+0.01%) is trading flat after erasing earlier losses. Sentiment seems to have been impacted by US President Trump’s rhetoric, after an interview with the WSJ, that he will likely push forward with plans to increase tariffs on $200 billion of Chinese goods. He also suggested that the US would likely impose tariffs on the remainder of Chinese imports ($267bn) if the trade talks on the sidelines of the G20 fail. So the pressure builds ahead of the summit. Futures on S&P 500 (-0.18%) are pointing towards a softer start. Back to yesterday, Bund yields edged up +2.1bps yesterday with the Italy news more important than any ECB slowdown worries. That move for BTPs and Bunds means the spread between the two yesterday was -15.9bps tighter and now at the tightest level in nearly three weeks. Meanwhile Treasury yields also backed up +2.0bps and are now sitting at 3.06%. Oil had a part to play in that with Brent and Crude bouncing +3.13% and +2.54% respectively – despite the news that Saudi Arabia had again raised its oil output – perhaps with hopes that the oversupply condition will be addressed at the G20 this week or the OPEC meeting next week. Tensions between Russia and the Ukraine over the weekend seemed to have less of an impact. Not hurting the decent day for equities yesterday was news of a merger in the Greek Banking sector, however a sub-index of Greek banks did give up an early morning surge of as much as +11.57% to finish flat. A pretty substantial move and retracement! In the US, the auto sector advanced +3.98% for its sixth best day of the year, after General Motors announced a broad new restructuring plan. It plans to cut over 14,000 jobs and close five North American manufacturing plants next year, barring an agreement with its unions. GM’s share price rose +4.79% to a four-month high. Elsewhere on Brexit, Donald Trump has suggested PM May's Brexit agreement could threaten a US-UK trade deal. He told reporters the withdrawal agreement "sounds like a great deal for the EU" and meant the UK might not be able to trade with the US. The PM’s office insisted the deal is "very clear" the UK would be able to sign trade deals with countries around the world. To the day ahead now, where this morning in Europe we’ll get November confidence indicators in France and Italy followed by the CBI’s retailing reported sales data in the UK for November. In the US this afternoon we’ll get various house price data points including the September FHFA house price index reading, Q3 house price purchase index reading and September S&P CoreLogic house price data. On top of that we’ll get the November consumer confidence survey which is expected to slip nearly 2pts to 135.8 in light of the recent wobbles in the equity market. That is, however, in the context of the 18-year high that the index reached last month. Away from the data, there will be plenty of focus on Fed Vice-Chair Clarida’s speech in New York today at 1.30pm GMT, especially around the topics of how he characterizes recent volatility in markets and the prospects for domestic and global growth. Fellow Fed officials Bostic, Evans and George will also speak this evening at 7.30pm GMT while the ECB’s Nouy, Costa and Mersch also speak at various stages. It’s worth also noting that starting today and continuing until Thursday, the three top candidates to take over from Merkel as head of the CDU will hold panel debates.
Bitcoin is already more useful than most of the World's small currencies out there
If we measure the usefulness of a currency by the number of people who would potentially accept it, I think Bitcoin is already more useful than most small currencies of the world. For example if I had to pay somebody a small debt, and offered HUF (Hungarian Forints) or LBP (Lebanon Pounds) they would probably be reluctant to take it because it's hard to spend such paper notes anywhere but in the issuing countries. They would have to find a brick and mortar exchange that takes these less known currencies and willing to turn them into USD. Most of them however only exchange the top currencies, not all. But if I were to offer bitcoins, even if they are new to Bitcoin and unconvinced about its features, they would be more likely to accept it, because they can store them easily on their phones, they can spend it directly online on many sites to buy any number of things, or convert it to USD through Circle or other services. And Bitcoin with time will probably grow further in this regard against obscure currencies because it's not limited by country borders. Maybe it passes the bottom 50 national currencies in usefulness Today, but one day it may be as useful in this regard as the top 7: USD, EURO, GBP, JPY, AUD, CAD, CHF. Which currencies would you accept from these? http://www.xe.com/symbols.php
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