World's first insured bitcoin vault launches - bobsguide.com

Over the past year my team and I have been tirelessly working to build a Bitcoin onramp built by Bitcoiners, for Bitcoiners. Today, I'm excited to introduce River Financial: the best place to buy, sell, and use Bitcoin for the long term investor.

Hey /bitcoin! I'm Alex Leishman, a longtime Bitcoiner and member of this sub.
Today I'm very proud to announce the launch of River Financial (river.com), a financial institution built specifically for long-term Bitcoin investors.
TL;DR At River.com you can:
Background
Like many of you, I became quite frustrated over the last few years as I watched many once-respected companies in the space (e.g. Coinbase) turn their backs on Bitcoin and become casinos for altcoin trading. So, I decided to compete with them and build the company that Bitcoin deserves.
At River.com we deeply believe that Bitcoin (and Bitcoin alone) will continue to grow in its role as a globally recognized currency and store of value, and will eventually sit alongside or challenge today’s government-backed fiat currencies. We're building a financial institution around this hypothesis.
We have built our technical infrastructure from the ground up. All core applications run on our own servers sitting in a 2,000lb vault only we have access to (not your servers, not your company). And, of course, the vast majority of funds are held in a multisig PSBT-based cold storage system. By focusing exclusively on Bitcoin, we can provide access to the latest features Bitcoin has to offer. We already support the Lightning Network and will be ready to go with Schnorr support if/when the taproot soft fork is accepted by the network!
If you'd like to read more about River Financial and who we are, check out our blog post here.
We are based in San Francisco, and growing quickly. We are currently still in invite-only mode as we scale up. If you are eager to get access, sign up here river.com/request and DM me. I'll see what I can do ;)
Feel free to ask any questions below!
FAQ
How are you better than Coinbase?
What states do you currently support?
With many more coming early next year.
Will you support other cryptocurrencies?
No.
submitted by alex_leishman to Bitcoin [link] [comments]

DIGITAL GOLD TOKEN, THE STABLE COIN THAT OFFERS UTMOST TRUST

DIGITAL GOLD TOKEN, THE STABLE COIN THAT OFFERS UTMOST TRUST
Presentation

Throughout everyday life, everybody will experience an assortment of significant minute, extending from setting off for college, getting hitched and having a family, to retirement - that requires no little expense.
Without great money related arranging, it is hard to address every one of these issues on the off chance that you just depend on investment funds and month to month compensations.
Besides, in the event that you just rely upon things like; Finish of year rewards and a questionable compensation increment, or the aftereffects of bank premium whose worth will keep on being dissolved by swelling, or credits from manages an account with high financing costs. In this manner, it is significant for you to have a uninvolved wellspring of salary by beginning an investment.

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  • INVESTMENT -
I don't think I have to expand any longer, since I'm certain everybody including you definitely thinks about investing. presently, everybody as of now has an attention to the significance of investment.
Notwithstanding, when somebody needs to beginning an investment, he generally feels an exceptional issue which incorporates: what is the best investment? , where and how to do it?

  • GOLD -
Whenever seen from its history, gold has become an image of riches and has additionally been utilized to save riches for a large number of years in mankind's history.
What's more, founded on close to home research through money related gatherings and comparable discussions that I took part in, gold has consistently been the response to questions identified with "the best investment".
Gold is constantly said to be a wise investment decision contrasted with different investments.

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Be that as it may, investing in physical gold isn't as straightforward as one would envision, there are various interesting points in regards to how and where to begin doing it.
This was driven by the gold obtaining framework for wasteful investment purposes, for example, check of individual personality and reports identified with the exchange procedure that can sit around idly, and furthermore a place to store that ensures the security of your gold with costly rental charges - from one perspective this will make it hard for people with little money to beginning investment.

DIGITAL GOLD - GOLD token - Your gold investment arrangement!
In the wake of understanding the gold buy and investment plot in physical structure that feels exhausting, it isn't extraordinary for somebody to demoralize to purchasing gold and start invest in gold.
In this manner, DIGITAL GOLD is here to defeat every current issue identified with gold buys and investments by building up a token - GOLD token.

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GOLD tokens - a progressively functional gold.
DIGITAL GOLD Ltd - an organization that utilizations Blockchain innovation in building up its undertakings, starting at 10-09-2019 has formally propelled the platform and GOLD token.
By utilizing Blockchain innovation which has been known as worth administration and a more brilliant and progressively effective stockpiling framework,
DIGITAL GOLD has made a platform that has different imaginative highlights that enable you to purchase and store physical gold inclusion in a split second yet stay mysterious through GOLD token, a token dependent on Ethereum ERC20.

GOLD token - StableCoin
DIGITAL GOLD ensures the estimation of GOLD tokens since GOLD token of 100% bolstered by physical gold put away in a sheltered vault, the cost of every GOLD token equivalents the cost of 1 gram of unadulterated gold and is legitimately connected to the spot cost of gold continuously.

GOLD token - Trust
GOLD is a token based on the Ethereum Blockchain known as a decentralized PC organize that can record exchange follows with the help of keen agreement includes that are proposed to encourage and confirm exchanges believably without an outsider and can't be changed yet stay straightforward.
This implies GOLD token are given utilizing an Ethereum keen agreement, the quantity of tokens available for use will approach the aggregate sum of physical gold put away in the vault.

What's more, to expand certainty that there are no breaks of security and defenselessness in GOLD shrewd agreements, DIGITAL GOLD Organization has requested a review from ChainSecurity - a notable organization in the Ethereum brilliant agreement review field.
The ChainSecurity review report expresses that the GOLD-savvy contract is totally protected and liberated from issues of truth.

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GOLD token - Security
As depicted above, in the event that you need to invest in gold, you should consider a capacity to guarantee its security. Safe Store Box benefits that require extra expenses are not the correct arrangement, nor are they safe on the off chance that you purchase physical gold and store it under a sleeping pad in your home, on the grounds that the danger of burglary and robbery will prowl.
Rather, DIGITAL GOLD guarantees the security of your assets consistently! With GOLD token now you don't have to stress over your gold security!.
At the point when you purchase a specific number of GOLD token, a similar measure of physical gold will be put away safely in the organization's vault, which for this situation Digital Gold has shaped an association with BullionStar - a main vault store administration.

Different highlights and points of interest of GOLD tokens
GOLD token are ensure a security and solace to you, numerous different points of interest of GOLD token include:
  • Moment, boundless and unknown gold buys:
Whoever you are, regardless of where you will be, you can now effectively purchase gold in any sum through GOLD token without an outsider, without experiencing a long procedure, and without submitting records which contains your own personality.

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  • Exchanges without expenses:
DIGITAL GOLD - GOLD Token gives an extremely productive framework to purchasing gold, other than that,
DIGITAL GOLD - GOLD Token likewise guarantees that your assets don't work just as a store of significant worth, notwithstanding, also Gold Token can be utilized effectively regarding tokens as a day by day monetary everyday practice.
All exchange exercises with GOLD token are free! You can make the same number of installments as you like with no exchange expenses.

  • GOLD - Stablecoin as a support in the cryptographic money market:
The digital money market is known as an extremely unstable market, regularly a cryptographic money loses esteem when the market is in a negative condition.
In cases this way, the GOLD token gives capital security on account of its value strength in light of the fact that the cost of the GOLD token is equivalent to the cost of unadulterated gold.

Digital Gold Marketplace

Acquiring GOLD token is basic! You can undoubtedly purchase or sell GOLD token with Bitcoin and Ether, on the grounds that the DIGITAL GOLD platform is a completely utilitarian environment and has its own market that is furnished with fundamental devices to assist you with investigating the market.

Furthermore, you can likewise utilize client care for data identified with different highlights of the DIGITAL GOLD Platform.

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  • Wide inclusion in different markets: For this situation, Digital Gold encourages the liquidity of GOLD token by promising the enrollment of GOLD token on different cryptographic money trades, this plans to empower every client to make buys and deals on most loved digital currency trades.
What's more, as a solid advance, at present GOLD token have been enrolled in Cryptex - a cryptographic money trade that additionally works with different money installment frameworks and electronic installments.
Along these lines, regardless of whether you don't hold digital currency like Bitcoin or Ether, you can purchase GOLD token with money and an electronic installment framework at Cryptex.
In the interim, DIGITAL GOLD is likewise in contact with another trades with an end goal to give GOLD token to a superior range to all markets.

End
DIGITAL GOLD - GOLD token furnish investment openings in gold with exceptionally fluid alternatives to every individual/gathering of investors.

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Through the DIGITAL GOLD Platform, clients can profit by blockchain innovation that takes into account solid exchanges.
With GOLD token, all questions about gold investment have vanished.
GOLD token are a suitable arrangement as a wellspring of automated revenue from the energy about the estimation of gold. Presently you can without much of a stretch beginning a decent money related arrangement for your present moment or future needs.

Last Word: There is a colloquialism that says: "investing Is Dangerous, Yet Not have investment Is Considerably More Hazardous".
What's more, whenever there are GOLD token that offer investment openings without hazard, for what reason would you say you are as yet far fetched?
This article is just a basic portrayal that may likewise not speak to DIGITAL GOLD all in all. Along these lines, Learn and find the different highlights and advantages of DIGITAL GOLD -

Official Website: https://gold.Storage/
White paper: https://gold.Storage/wp.Pdf
Telegram: https://t.Me/digitalgoldcoin
Twitter: https://twitter.Com/golderc20
Medium: https://medium.Com/@digitalgoldcoin

Author: jaywizzy Link: https://bitcointalk.org/index.php?action=profile;u=2268796
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DIGITAL STABLE COIN, THE STABLE COIN THAT IS SELF REASSURING

DIGITAL STABLE COIN, THE STABLE COIN THAT IS SELF REASSURING
The blockchain innovation fills an exceptionally helpful need in our present reality as it has significantly affected the world monetary and financial part. It has additionally influenced different areas of the world, for example, the mechanical, well being, banking segments, and so forth. Accordingly realizing an extraordinary transformation to the world on the loose.
A blockchain is an assortment of records called square, which are connected together utilizing cryptography. It is an open appropriated record that can record exchanges between two gatherings effectively, in a confirmed and dependable way. Its incredible highlights help keeps data more verified on the grounds that they are connected with cryptography which is hard to modify.
The capacity of blockchain to withstand the change of information has made it a fundamental and modern apparatus in the digital world. The blockchain innovation go about as the foundation of digital money which is centered around lifting the worldwide monetary and financial part to its pinnacle.
Attributable to further its potential benefit, a great deal of ventures has chosen to coordinate its favorable position into their system to make their activities a proficient one.

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The Gold business
What is Gold?
Gold is one of the dateless assets of humanity. It is broadly utilized all through the globe as cash (for its superb fiscal worth) for effective trade (exchange and bargain), as decorative, for restorative purposes and as a huge store of riches.
These utilizations and a lot more have made it still significant and significant till this day. Among all, the utilization of gold as a methods for trade (cash), and as a store of riches has made it progressively unmistakable. Notwithstanding, the is a decreased pace of worldwide appropriation of Gold by the majority. This is because of the difficulties and hazard related with Gold.

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These difficulties incorporate;

  • Lumbering Confirmation Procedures;
The acquisition of gold on the planet today requires a lot of check process which is distressing and tedious. These confirmation forms are not helpful for many individuals. This decreases their advantage and thus lessen the worldwide reception pace of individuals in the gold business.

  • HIGH Exchange Charge;
Some business and money related exchange are finished with Gold. Be that as it may, these exchanges are done at a stipulated measure of cash which are most occasions high and not reasonable by all.
This influences the exchange Gold and it's worldwide reception rate as the high expense demoralizes individuals from the exchanging/utilizing Gold.

  • Significant expense OF Capacity:
Because of its high money related worth and indispensable employments. Gold is never liberated from robbery. The capacity of Gold (to be liberated from burglary) is one of the significant need of Gold proprietors as the Gold can't be put away at home. To store the Gold securely, it is kept in the bank which stores them safely in a vault.
This adds to the expense of acquiring and putting away Gold. This additionally deters the selection of individuals in the Gold business.

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Likewise when acquiring gold, it could set aside a long effort for the gold to get to purchasers. Prior to it's appearance, the purchaser's requirement for it probably won't be there any longer, this prompting an uneasy exchange and move.
These difficulties and a lot more discourage individuals from taking an interest in the Gold business consequently diminishing the worldwide reception of Gold.

Nonetheless, all expectation isn't lost in the Gold business since great and positive endeavors are been made to give solid answers for these imperfections in the business. They incorporate the usage of the blockchain innovation in the making of blockchain-based venture which will help in changing refined (physical) Gold into Digital Gold.
The production of these blockchain-based task will empower the enthusiasm of individuals in the gold business, along these lines going about as a motivator to worldwide selection of Gold. An ideal case of such a venture is Digital Gold Restricted. This task is the first of it's sort.

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What is Digital Gold constrained?
Digital Gold restricted is a blockchain-put together task which centers with respect to changing refined (physical) gold into digital gold to give an enduring answer for the defects of the gold business. This undertaking will ensure the effectiveness and straightforwardness of the business.

What are the arrangements given by Digital gold restricted to the gold business?
Digital gold constrained with the guide of the blockchain innovation and its structure is set up to effectively handle the imperfections of the Gold business.
Digital gold restricted has made an ERC-20 token called Digital Gold which is supported by unadulterated physical gold put away in the organization's vault which will be utilized to encourage activities on the platform. Every token is equal to one gram of 99.99% unadulterated gold. These token can be utilized for exchange purposes, store of riches and considerably more like the physical gold.

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In managing the cost of the token, the cost of the digital gold token is consistent as every token is constantly comparable to the cost of one gram of unadulterated physical gold. All the more along these lines, the organization being a liquidity supplier guarantees the solidness in the cost of the token.
With Digital gold constrained, buy and closeout of gold will be made simple, advantageous and reasonable, as it uses the digital gold token which doesn't include unwieldy confirmation forms for buy and offer, in this manner prompting expanded cooperation in gold exchange and worldwide appropriation of the gold business.
Digital gold will likewise handle the issue of the moderate speed of exchange by utilizing the blockchain innovation to guarantee the digital gold token are moved at a quicker rate (like a flash).

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The issue of trust and straightforwardness in the gold business is dealt with by Digital gold restricted using shrewd contract which guarantees the measure of token flowed is equivalent to the measure of physical gold in the organization's vault.
Likewise, the vault will be evaluated routinely by bullion star which is in association with the organization and furthermore token proprietors are free to review, to guarantee straightforwardness and trust of Digital gold constrained.
The issue of capacity is additionally dealt with by Digital gold constrained as it guarantees the gold is put away securely in the organization vault. With the digital gold token, the put away gold can at present be utilized for exchange purposes. Besides, the gold tokens are put away securely by the proprietors in a digital ERC-20 wallet (in light of the fact that the Gold Token is an ERC-20 Crypto currency).

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Additionally, the exchange of the gold token doesn't require any expense, and the token can be moved starting with one digital wallet then onto the next (anyplace on the planet). The ERC-20 wallet ensures boundless and rapid exchange of the Gold Token day by day. Moreso, the gold token can be traded for Bitcoin or Ethereum on the Digital Gold marketplace (gold.storage).
You can likewise purchase the gold token utilizing Bitcoin or Ethereum (still on the marketplace). Adding to that, anybody can purchase or sell their Gold Tokens on accomplice trades like Crptex.

Conclusion
Digital gold restricted has demonstrated that it is equipped for lifting the gold business to the pinnacle. By embracing the blockchain innovation in its system, it will guarantee unwavering quality, effectiveness, straightforwardness and expanded appropriation of the gold business for business exchange and furthermore as a store of riches.
🌟SEASON GREETINGS🌟
To get more data about the Digital Gold platform, if you don't mind visit beneath;
Official Website : https://gold.Storage/
White paper: https://gold.Storage/wp.Pdf
Telegram: https://t.Me/digitalgoldcoin
Twitter: https://twitter.Com/golderc20

Author: Cryptobae10 https://bitcointalk.org/index.php?action=profile;u=2023123
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DIGITAL GOLD STABLE COIN GIVES YOU A PRIVATE GOLD OWNERSHIP EXPERIENCE

DIGITAL GOLD STABLE COIN GIVES YOU A PRIVATE GOLD OWNERSHIP EXPERIENCE
Presentation
Bits Of Gold History
So as to thoroughly comprehend the purpose of gold, an individual needs to return to the beginning of the gold business. While gold's experience started in 3000 B.C, when the old-fashioned Egyptians began forming jewels, it was unmistakably in 560 B.C. that splendid began to fill in as a cash. At that moment, retailers expected to make a standardized and quickly transferable kind of cash that would improve exchange.
The commencement of a gold coin ventured with a seal appeared, apparently, to be the response, as gold decorations has been extensively recognized and fathomed all through various bits of the planet.
After the start of gold as a money, its criticalness continued climbing all through Europe and the U.K., together with relics in the Roman and Greek domains unquestionably appeared in show corridors over the world, and Incredible England building up its metals-based money in 1066.
The English pound (addressing a pound of sterling silver), shillings and pence relied upon the total entirety of gold (or silver) is addressed. Finally, gold addressed wealth all through Europe, Asia, Africa, and the Americas.

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Gold In The Advanced Economy
Despite the way that gold no more backs the U.S. dollar (or elective overall monies so far as that is concerned), it passes on importance in current society. It's as yet basic to the worldwide market.
To attest this stage, there isn't any need to look more removed than the benefit reports of national banks and other cash related affiliations, like the Universal Fiscal Store.
Starting at now, these affiliations are accountable for holding roughly one-fifth of the planet's wellspring of over the ground gold. In addition, various national banks have added to their own one of a kind present gold stores, addressing worries as for the long stretch by and large market.

Gold Jam Riches
The clarifications behind gold's centrality in the present economy bases in transit that it has secured wealth all through an enormous number of ages. The proportionate, nevertheless, can't be said about paper-assigned money related structures. In the mid 1970s, one ounce of gold drew nearer $35. Assume that around at that point, you had an option of holding an ounce of gold or fundamentally keeping the $35.
They'd both get you the amazingly same things, like an unblemished autonomous organization suit or unrestrained bicycle. In any case, if you had an ounce of gold now and changed over it to the expenses, by then it would regardless be sufficient to buy a sparkly new guarantee, yet the proportional can't be said for the $35.
Basically, you would have lost an extensive proportion of your wealth in case you chose a decision to hold the $35 diverged from the one ounce of gold in light of the fact that the estimation of gold has extended, while the estimation of a dollar was broken down by development.

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Gold as an Expanding Speculation
All things considered, gold is viewed as an upgrading theory. Clearly gold has filled in as a theory which may incorporate a widening part for your portfolio, paying little respect to whether you're stressed over expanding, a reducing U.S. buck, or perhaps verifying your wealth. In case your thought is simply improvement, gold isn't related with offers, bonds, and property.

The New Path Interest In Gold
At this moment, with blockchain development set up as a verified accounting procedure, similarly as Bitcoin, improving known to the general populace, a fresh time of gold-maintained cryptographic cash is as of now rising.
There's a well known (and severe) run for unfathomable riches happening today in the crypto world, similarly as nations are expecting to give their particular gold-based advanced money.

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Computerized GOLD Undertaking
Likewise, by and by, I am showing The GOLD token is a stablecoin supported by real gold bars set away in ensured and auditable vault stockpiling in BullionStar. 1 GOLD token counterparts to 1 gram of gold.
The token relies upon Ethereum blockchain (ERC-20 benchmark ) and is right now gave and gave by Computerized GOLD LTD business.
A base, the cost of the coin will remain comparable to the present gold expense. In case the GOLD Token gets acclaimed then the sticker price of the coin can raise in worth, higher than the estimation of gold. In case the GOLD Token doesn't remove than the value stays as the estimation of this gram of gold. It looks like an inborn stop-adversity.

GOLD TOKEN Highlights
The GOLD token parades various conspicuous features that mean to encourage the usage of blockchain for digitizing assets. By acquiring gold through the token, Customers get to:
A straightforwardness token that requires no exchange costs: Customers can choose to send the GOLD Token wherever on the planet, without holding up be stressed over flighty exchange Charges, because of all exchanges is free. Customers are moreover allowed to make unfathomable Installments since the organization doesn't execute account confinements. Customers must note that Moves still solicitation the gas cost charged by the Ethereum organize.
Along these lines, It's fundamental to consider that the assistance cost is Made to be commensurate, or lower than the accuses distinguished of taking care of Gold in a store or credit authority. Customers may plan to cover a 0.99% yearly storage charge.

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Widen portfolios, and keep wealth in a position of shelter: The Present cryptographic cash business focus conditions generally incorporate shaky cost Swings, from now on giving all purchases a high-chance segment. Most of the starting at now available coins Aren't trusted to keep up their incentive from the since a long time ago run, since the Commercial center.
Regardless, gold suggests a money related piece of elbowroom that has held its incentive for incalculable years. Upheld by balance. Obviously, gold is among the world's most secure advantages for Have For limit. Its digitization through the GOLD token empowers customers to Purchase Inclusion in gold, which may consequently be utilized to rehearse assurance from Insufficient monetary circumstances, managerial and eccentrics changes.
The GOLD token could be immediately and immediately obtained, sold, and exchanged In this way displaying why it reflects a strong extension to show customer computerized cash portfolios.
Secure gold ownership: The troubles related with obtaining and saving gold are immediately spread out as of now. The procedure commonly incorporates a lot of issue. To buy gold, individuals that are interested need to discover a trusted in provider, supervise authoritative work, by then keep on attaching the as of late purchased metal. Encouraging it at a bank is a secured other option, nevertheless, it incorporates fundamentally progressively regulatory work, together with limit charges.

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The natural threats related with keeping gold in a house are outstanding, due right up until now, theft remains an issue that society must guarantee against. These challenges could be rejected using Advanced Gold. Together with the GOLD token, customers buy consideration in real gold, saved by the business is guaranteed vaults. The assurance consideration is eventually given by a lone of the world's most noteworthy security agents, the Chubb Insurance agency.
The guaranteed gold is saved in Singapore, and it is a brilliantly reasonable spot in view of its earth shattering property rights. It's similarly pertinent to express that blockchain advancement offers protection against computerized perils also. Up until this point, blockchain remains resistant, given that no people blockchain record was hacked during the present day.

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Security on the customer side could be guaranteed given that token customers shield themselves from key-loggers and various sorts of malware. In any case, no pariah may obtain access to an individual record without finding the wallet identifier close by the related private key. In addition, blockchain constancy ensures that all exchanges are enduring, as such apparent customers face no chargeback danger.
Finally, 100 percent of acquired tokens are secured with gold. The aggregate is equivalent to the estimation of physical gold that is gotten on the benefit of customers and kept in a BullionStarbased guaranteed vault. Purchasers are permitted to play out their due resourcefulness by watching that the BullionStar live survey accounts.

  • High liquidity Advanced Gold: The GOLD token guarantees high liquidity considering the token underwriter firm, computerized gold ltd moreover fills in as a liquidity provider. Customers are allowed to in a brief moment buy and sell noteworthy measures of tokens, through the Computerized Gold Commercial center, or life accomplice buys. Liquidity is so accessible on-demand, and besides the rates dependably immovably fit current gold market rates.

  • Private gold ownership experience: As fast Referenced Beforehand, adjusting to physical gold incorporates that customers Divulge private information to stay in consistence with government managerial frameworks. The general nonappearance of organization grasped from the sheer measure Of information gathering, has caused the presence of an overall population which is more protection cognizant. The GOLD token licenses for physical gold having a place while staying Person.

  • Guaranteed long stretch eventual fate of got GOLD: Most budgetary specialists concur that the fate of gold massively surpasses Our own. This end is maintained by the Lindy Effect, a thought that depicts The manner in which the fate of an advantage is really comparative with the present Age.
Gold's transcendence for a colossal number of years ensures the significant metal Will remain pertinent for quite a while to come.
The possibility of a gold computerized money has reliably had an interest for those scanning for an elective portion structure.

Official Website: https://gold.Storage/
White paper: https://gold.Storage/wp.Pdf
Telegram: https://t.Me/digitalgoldcoin
Twitter: https://twitter.Com/golderc20
Medium: https://medium.Com/@digitalgoldcoin

Author: Wayrey2020
https://bitcointalk.org/index.php?action=profile;u=2395392
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DIGITAL GOLD STABLE COIN; A GOLD BACKED STABLE COIN

DIGITAL GOLD STABLE COIN; A GOLD BACKED STABLE COIN
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Setting assets in Bitcoin is basically equivalent to putting assets in digital gold. Digital gold is a sort of hypothesis that is extraordinary in the overall public. Moreover, given the ambiguous properties of gold, bitcoin is likewise legitimately a sort of theory that is fundamentally the same as gold. For what reason is that? Due to the undeniable nature of gold and bitcoin, such huge numbers of individuals have started spending some portion of their cash on purchasing a spot of bitcoin and gold as a method for goals.
With an estimation of 1 gram of unadulterated 99.9% gold, GOLD tokens are steady and decentralized. Orchestrated in Singapore, the real/physical sort of token worth of gold is taken care of totally securely in the safe. stablecoin is an organization that uses its very own one-time costs and doesn't acquire ICO costs.
As a sort of theory that pulls in budgetary consideration, gold and Bitcoin are the correct decision until further notice.
Was established in 2012.BullionStar is a marginal relationship for enormous/significant metals. Where this aggregation gives security to its customers, there is no persuading inspiration to extend their inclinations. Also, the expense of the GOLD token is attached to the present gold cost.
Given the present GOLD Token stock, this isn't expected for customers who need to purchase either people or offshoots, and isn't restricted to the sum you have to purchase. At the point when supplies of GOLD tokens are sold out, DIGITAL GOLD ceaselessly buys physical gold for capacity and is kept in a vault. Simultaneously, new tokens get the estimation of the physical gold with the condition 1 token GOLD = 1 gram of unadulterated gold.
https://preview.redd.it/sepy7877uu041.jpg?width=332&format=pjpg&auto=webp&s=33a2993a389fc00d8b61b8e8ab90ded91502d346
Gold Endeavor
The expense of gold will be increasingly solid by and large. This is on the grounds that gold has certain attributes and confinements in every accumulation system. As response is made to existing examination, the extent of gold on the planet that has expanded the level is restricted. It is proposed to give the gauge of gold and along these lines have a determined exertion.
In this sense, gold is a decent decision, despite the fact that the improvement is as yet progressing. All through 2016, gold costs expanded by 15%.
Likewise, GOLD token proprietors can without much of a stretch sell their gold tokens on the market offered by Stablecoin GOLD at https://gold.storage/display
By the by, bitcoin expenses have slowly expanded to $ 10,000. Also, these costs will proceed to increment and change whenever. So bitcoin is a blend of gold and stocks.
It isn't workable for anybody to know whether and when the introduction of Bitcoin will be powerfully positive consistently or will spoil sooner or later. Bitcoin takes a stab at the standard of the high danger of abnormal income undertakings. The more critical the hazard or feebleness of a favorable position, the more conspicuous the validity of the arrival accomplished. This is the clarification that Bitcoin is considered as a theory instrument that is one of a kind in connection to other corporate assets.
In this manner, cash masters are purchasing a touch of Bitcoin to guarantee riches and, additionally, to build riches. Put in an ensured perceive a trace of your cash for various theories. Keep in mind, the decision is yours.

For further information; do look below:
Official Website: https://gold.Storage/
White paper: https://gold.Storage/wp.Pdf
Telegram: https://t.Me/digitalgoldcoin
Twitter: https://twitter.Com/golderc20
Medium: https://medium.Com/@digitalgoldcoin

Author: Wayrey2020
https://bitcointalk.org/index.php?action=profile;u=2395392
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Wealth Formula Episode 179: Buy, Borrow and Die: Bitcoin Style

Catch the full episode: https://www.wealthformula.com/podcast/179-buy-borrow-and-die-bitcoin-style/
Buck: Welcome back to the show everyone. Today my guest on Wealth Formula Podcast is Zack Prince. He's Founder and CEO of BlockFi. BlockFi bridges the gap between blockchain and the basic financial products that you're used to including interest-bearing accounts and loans. Zack, welcome to Wealth Formula Podcast. I think you we might have had you on before as a Consensus Network replay but first time on Wealth Formula Podcast specifically, so welcome.
Zac: Yeah, excited to be here, Buck. Thanks for having me. And it's good to chat with you again
Buck: Yeah so remind me how you got into this you know Bitcoin stuff in the first place, I mean you were as I understand you were a traditional finance guy right so where did the blockchain part come in?
Zac: Sure so I was I was working at a company in the FinTech world that provided data and technology solutions to institutional investors that wanted to participate in some of the new online lending platforms, whether they were real estate platforms or consumer lending platforms, and I kind of became the FinTech guy amongst my friend group and people would ask me you know should I invest in these real estate deals on fund rise or buy loans from Lending Club and I started writing a blog to share the information more efficiently with my friends basically and I started expanding a little bit writing about Robo advisory and some other things that were going on in the FinTech space and that's what led me to Bitcoin, and this is back in early 2015. I didn't start BlockFi until 2017 because I started following the market in the background, still working in traditional financial services in FinTech and then in early 2017 it started to feel like mainstream adoption was starting to happen in the crypto ecosystem. I'm started going to some meetups in New York City because at a certain point my wife said Zac, you're talking about crypto all the time and you're talking to me about it and I don't want to talk about it so you should find some other people to talk about this with. And the meetup composition started to change and in 2016 when I started going to these meetups it was the early crypto adopters you know libertarians, computer scientists and then in early 2017 I started to see some venture capitalists, some guys who had just left their job at Wall Street still wearing a suit, some more entrepreneurs and it was a really exciting time in the ecosystem, things like the Enterprise Ethereum Alliance were getting announced which had participation microsoft and a lot of other you know fortune 500 companies and I had started to believe in it. I was drinking the kool-aid a little bit so I decided to find a way to get involved in the space full-time and that's what led me to start BlockFi.
Buck: So I have to imagine that the response you got from the traditional finance people around that time when you started talking about the blockchain space and when you started being more and more involved with that was probably not a very positive response initially or did you did you experience some of that sort of you know rejection initially to what you were doing?
Zac: Yeah absolutely. But you know throughout my career this is now kind of the third emerging technology industry that I've worked in. I was originally an advertising technology starting like you know 15 years ago and I was in FinTech specifically the online lending side of FinTech which in its early days was called peer-to-peer lending and now in crypto. So having to do a lot of education explain it you know why something isn't crazy and it might work and here's why and here's the value proposition and here's what it is, I've gotten very used to that and comfortable with it. But yeah there were a lot of people who are like you know I've heard Bitcoin is only used by drug dealers and money launderers. I've heard that I'm supposed to care about blockchain and not Bitcoin. And you know at BlockFi we’re providing financial products into the market so it's a heavily regulated business so we also had to communicate with regulators. We had to explain to state regulators, federal regulators why what we were doing with Bitcoin and other cryptos than when you're doing these same types of things with assets that they're more familiar with.
Buck: So when you were talking to people back in, I don't know I guess 2016/17 and it's not a long time ago, it's only two years ago, but I have to imagine that the response or the you know the approach that people take to you when you speak to investors is very different. Has it become more mainstream in that regard for you know for big money investors?
Zac: It's absolutely become more mainstream you know the end of 2017 Q3/Q4. Point was going on that parabolic run it started to get covered everywhere, I mean it was on CNBC every day it was in Bloomberg New York Times Wall Street Journal. If you were paying attention to the financial industry and markets you heard about Bitcoin at that time if you hadn't heard about it before. So from a baseline of awareness perspective it got a lot better and then in 2018 you had a number of positive developments for the sector including one that I think is probably the most noteworthy which is that Bitcoin futures were listed on the CME the institutional investor perspective that's massive. You now have a well regulated well known super trustworthy venue where you can get exposure to this asset class, you also had companies like Grayscale bringing products to the market which are accessible to certain types of investors and their low bridge accounts and you started to see some adoption from companies like FinTech companies like Robin Hood and Square making Bitcoin available on their platforms. So the conversation has absolutely changed a lot and it's become less about whether or not this is something that's going to continue to exist whether or not it's something that was just a bubble and is going to die and now it's more about ok how is it going to get used how big could it get what are the interesting applications of it and what could have potentially disrupt in the traditional financial ecosystem.
Buck: So you know we had obviously following this you know pop in 2017, you know I actually like you kind of really got into this early 2017 so timing was pretty good I guess now regards. Good or bad depending how you look at it but I was there before before the parabolic move. And then we have you know then we followed this up with a crypto winter and and you know who knows if we're done with it, I guess we certainly are much better off than we were. You know a unit buddy it's funny Zac I don’t know if you remember this but I was about to, we'll talk about BlockFi specifically in a minute but, I was about to use BlockFi for borrowing because I like this idea of borrowing you know collateralized debt and collateralized debt on assets and buying something else. So I was about to do it and then Bitcoin lost a clip and I was like literally and I remember I was just emailing with somebody somebody over there and I was like sorry dude I guess I just sold it, I just sold all that Bitcoin I had and you sent one email back to me and it said “capitulation” but it you know and so now we're looking back at these we go down from 3,000 back up you know been sort of flirting around this 10,000 and it seems like we're kind of maybe that we're stuck there, maybe we're kind of out of winter, maybe we're in a holding pattern but it seems like to me that since that two years not only is the awareness increase but the development of the ecosystem itself is so much further advanced than it was in 2017. Is this an unusual case where the technology and maybe even the infrastructure is actually outpacing the price?
Zac: You know it's really hard to say. I would argue that in some ways it's typical. In other industries that showed a lot of promise where investors could you know participate maybe a little bit ahead of the adoption curve you saw crazy price run ups with the tech bubble and you know ‘99-2000 being the one that's kind of top of mind in recent memory and then on the other side of things, are we behind where the price should be now? It's really hard to say because this is kind of like a commodity type asset built on a payment network and valuing that is challenging and there's not a perfect model for for doing it today. It's not as easy as something that's cashflow producing but I'm incredibly bullish. I'm on record as saying at the beginning of this year that Bitcoin has only had one year in its 10-year existence where it had a lower low than the year before and parted this year around the low price for 2018 and I predicted that we would in the year had a higher price than where we started the year pretty soon and now we're up and you know around 300 percent from where we started the year. As that happens in investing is people frequently look at things on a year-to-year performance basis and when people are looking at Bitcoin even if all we do is stay around 10 K from here when they're looking at how Bitcoin performed rather than other relative to other assets at the end of 2019 it's probably going to look fantastic. And you also have an event coming up and in the summer of next year called The Halvening where basically the supply that's produced by miners is going to get cut in half and so if you believe in the stock the flow type models of valuation for Bitcoin that is usually a very big driver of price appreciation.
Buck: I believe May of 2020, right?
Zac: That's right.
Buck: In May of 2020. Can you just talked a little bit about that just so people know because people hear about it, I've been talking about it but I don't think that it really explained it.
Zac: Yeah and you know I'm not I'm not a computer scientist so I can explain it in a you know in a very simple…
Buck: No one else here is either.
Zac: So basically the way that new Bitcoin is created is through this process called mining. And it's analogous to mining gold except instead of finding a place in the earth where gold exists and then getting your trucks and mining equipment and digging it out of the ground, the way bitcoin is mined is using this computer program and there is now specialized computer hardware that's built specifically and optimized for mining Bitcoin. And you have this network of machines around the world where the input is energy into the mining hardware and the output is new Bitcoin and those miners are what provides the power for the payment network a Bitcoin to run and when we say that there is this event called The Halvening, what that basically means is that the output that's built into the Bitcoin program that the miners are receiving as their payment for contributing energy to the network, is going to get cut in half. So the miners are going to have the same you know relative input but the amount that they're receiving is going to get cut in half for that input. This should, if the demand side for Bitcoin remains equal, it should drive up the price and historically Bitcoin has had three of these Halvening events in its lifetime so far I believe and around each Halvening you have seen you know six months before or six months after a pretty material run up in price.
Buck: Yeah so it also goes along with that sort of that the entire idea that Bitcoin unlike you know other assets including gold is it's a deflationary asset ultimately and and that's one of the things that makes that happening really significant. Apart from and I have one more question before we get to block five which is apart from the Halvening, you know thing that's happening, what is maybe the biggest development or upcoming thing that's coming up that makes you the most bullish on the future of Bitcoin or blockchain in general?
Zac: Sure so I think I wouldn't actually point to any one specific thing, I would point to two broad trends. So one is institutional adoption and participation in the asset class and the other is better ramps for retail participation into the asset class and just focusing here you know on the US market because it really is an international story but just in the US market. In September we should have Bakkt launching their futures platform. Bakkt is owned by ICE, the Intercontinental Exchange, and there's a big core difference between their futures and the current futures that are available on the CME in that futures on Bakkt platform are going to be physically settled so that means that actual Bitcoin is going to be needed to facilitate the trading on Bakkt’s platform which does not happen on CMEs exchange so that's that should be a very positive catalyst in terms of demand for physical Bitcoin that could have an impact on the price. Also on the institutional side this year I believe earlier this year, the first pension fund made an investment into an asset management vehicle that was focused on investing in Bitcoin and private equity opportunities in the Bitcoin and blockchain sector. So that will be a trend.
Buck: Which pension fund was it?
Zac: It was in North Carolina so I think it was like the North Carolina Firefighters and the group that raised the money from them was Morgan Creek Digital it’s actually invested in BlockFi by Anthony Pompliano Twitter and Mark Yusko so that's on the institutional side. And then on the retail side you've seen FinTech companies like Square and Robin Hood offer Bitcoin trading to their users. But soon you will also have companies like TD Ameritrade E-Trade and others offer Bitcoin to their users sometimes be a partnership sometimes because they've built it directly. You also at some point might see progress made in terms of an ETF getting approved that would give retail investors in the US market exposure to Bitcoin in a really easy and familiar way. All of those things are tremendously positive catalysts and the caliber of people working on them only continues to increase. Talent was attracted into the sector very, very rapidly these days.
Buck: You know one question that leads me to is that all of this is happening with Bitcoin for the most part. Are alt coins in your opinion is that market coming back or is that something that we're gonna see probably select you know group of tokens projects emerge and then the rest will kind of just get left in the dust, what do you think?
Zac: I mean I'll tell you exactly what I'm doing with my portfolio and then I'll provide a bit more color. So my asset allocation in the crypto side of my investing is I'm like 90% Bitcoin 5% Ethereum and 5% B&B; which is the Binance right. So I'm super bullish on Bitcoin. I think that you know there's a chance that Ether makes a comeback specifically I think that a lot of the stable coins that have been launched have been built on Ethereum if you're not familiar with stable coins it's basically the concept of a dollar but on a blockchain which could be really really powerful because it creates the opportunity for the delivery of US dollar denominated financial services at a global scale not using the traditional banking rails. And then B&B; I mean Binance is the biggest and most successful exchange they have a history of innovating, creating new products, going fast and so I'm taking a bit of a flyer with them but I'm 90% Bitcoin. I don't think that I'm not bullish on any of the other all coins frankly I struggle to see you know the big upside I have heard whispers in the community that there's kind of like a new wave of altcoins 3.0 might emerge, you know could see some some good returns similar to what some of the ICOs did in 2017 but it's not an area of focus for me. So that's my view.
Buck: Yeah let's talk about BlockFi. Remind us exactly what BlockFi is.
Zac: Sure so we're a wealth management platform for crypto investors. Today we have two products that we offer. One product is analogous to a savings account from a traditional bank where you're able to earn interest on your holdings except on BlockFi, the assets instead of being dollars are bitcoin and Ether and we don't have FDIC insurance so it's not exactly the same risk profile as a savings account at a bank, but conceptually you're able to hold Bitcoin and an account with BlockFi and earn interest on it paid in Bitcoin every month. That's one product that we have. The second product that we have which you are alluding to earlier offers our clients the ability to borrow dollars secured by the value of their cryptocurrency and it's analogous to a securities backed loan or a liquidity access line in the traditional world except instead of securities we're taking Bitcoin or other digital assets as collateral and lending it rates as low as four point five lending USD that rates as low as four point five percent a year.
Buck: I wanna pick these apart a little bit if you don't mind. In terms of this savings account first of all is it just bitcoin or is it bitcoin, Ethereum?
Zac: We actually support three assets in the interest account currently Bitcoin, Ether and GUSD which is the stable coin from Gemini.
Buck: Got it. And talk about the interest because it's not one flat interest rate right it's different depending on how much cryptocurrency actually is held?
Zac: Correct so there's a tiered interest rate structure. Currently on Bitcoin for balances up to ten Bitcoin, we offer a six point two percent annual yield and for balances above ten Bitcoin it's a 2.2 percent annual yield. On Ether, for balances up to two hundred Ether it's a 3.3 percent annual yield and balances above two hundred Ether is 0.5% annual yield and for GUSD the stable coin it's an eight point six percent interest rate with no tier so yeah those are the different rates.
Buck: Why did, I mean was it just a matter of like an issue with people dumping like a thousand Bitcoin and trying to get six you know 6% of that, was it just too hard to you know make that a long-term part of the business model or why did the higher levels end up changing to a lower rate?
Zac: Sure so I wanted to function of market conditions and to it's a function of supply and demand. So we launched the interest account in March of this year. We were just starting to come out of the bear market and one of the things that happened as we switched from being in a bear market to being in a bull market is the futures switched from being in backwardation to contango which basically means that our institutional borrowers the groups that we lend to that enable us to pay the rate to depositors had less of a need they had less demand to borrow and they were willing to pay lower rates to borrow crypto than they were when we were building and planning to launch this product. The second thing that happened is we were surprised to the upside in terms of the level of interest that we received from depositors and especially depositors with very large sums of cryptocurrency. So to give you an example you know within a day or two of making the product available publicly, we had a number of groups that were depositing 5, 10, 15, 20 million dollars worth of Bitcoin and so the supply-demand that we have to manage is, the amount that we have on deposit relative to the size of this market that will borrow Bitcoin size of the market that will borrow Bitcoin is partially a function of market sentiments partially a function of number of trading venues and the liquidity profile and it's partially a function of you know BlockFi’s efforts in terms of sales and client development relationship management. So the supply side got a little bit ahead of the demand side on deposit and how much there was available to borrow so we made a few tweaks. We want to keep the 6%, 6.2% rate on Bitcoin available to as many people as possible for as long as possible so that's why we went with the tiered structure where we made it available on balances up to 10 and reduced it for balances above that.
Buck: Got it and the interest on that, when you say 6.2 percent that six point like it's all denominated in Bitcoin, you're not paying cash out right?
Zac: Correct so to use round numbers to provide an easy example you start on January first with a hundred Bitcoin in an account, by the subsequent January first you will have 106 point 2 Bitcoin in your account.
Buck: Yeah and that that's kind of neat too because then you're you know you're also getting potentially the upside of that you know I mean they made 6% but if you if you're really bullish on the market you could be potentially looking at a lot more than 6% on your money. How about in terms of the, is there like a you know do you do it sort of a month-to-month or six month or month you know year-long contracts for these things?
Zac: It's month-to-month. So the rates are subject to change on a monthly basis. We provide notifications at least a week in advance before the end of one month on what the rates will be for the subsequent month and people are able to you know withdraw any time without penalty. We reserve up to 7 days to process withdrawals but we've never taken more than one business day to process a withdrawal so they're pretty quick but not instant for security reasons and yeah it's pretty flexible.
Buck: How about the lump in the lending side how does how does that work? So now I've got like 10 Bitcoin and so I would deposit that I guess and you guys I understand that maybe that that goes into like a Gemini account or something, is that still how it works?
Zac: Correct so we have a partnership with Gemini for custody. So when you log into a BlockFi account you'll have a deposit address. When you send Bitcoin to that deposit address it actually goes directly into storage with Gemini. Gemini was the first custodian in the crypto sector to receive insurance against cyber hacks on their platform. They were also the first custodian to get to complete a SOC 2 compliance audit and they have a really long track record of custody billions of dollars worth of crypto without ever having any issues. So it goes directly to Gemini and then you're able to interact with block-wise platform to take any actions that you might deem necessary. So you can view your interest payments you can withdraw you can deposit more you can also take out a loan. So in terms of taking out a loan, if you have ten Bitcoin that's worth roughly a hundred thousand US dollars at this point in time, you can borrow up to fifty percent of that value in a US dollar loan which can be funded be a wire or stable coin and then the structure of those loans is that you make interest-only payments on the amount that you borrowed throughout the duration and you can prepay at any time without penalty.
Buck: And what's the typical you said it was four point six.
Zac: We have interest rates as low as four point five. The interest rates on borrowing USD vary according to your initial loan to value ratio. So if you have a hundred thousand dollars worth of Bitcoin we actually have three loan-to-value ratio options. You can borrow at a 50 percent initial loan-to-value ratio which would mean you're borrowing 50k, the interest rate on that will be eleven point two five, if you borrow thirty five percent of the value so 35k the interest rate is seven point nine, and if you borrow twenty five percent of the value of the interest rate is four point five percent per year.
Buck: Got it. In terms of you know the technical, so you basically pay that on a month-to-month basis and then in terms of contracts, are those also month-to-month loans or how does that work?
Zac: Those are one-year term loans well now it's the ability to renew without repaying the principal at the end of the term at current rates and our rates for those loans have always come down so far. So it's a one-year term loan BlockFi committed for a year at that rate your payments stay the same but you can prepay at any time without penalty.
Buck: Right. When do you do when would you do an actual sort of I guess a cap will call like what loan-to-value because you can go up to say you're borrowing at you know you're borrowing at the lowest rate you know you're at 4.5% you're borrowing see you know just for round numbers 100 Bitcoin you borrowed or you said 10 Bitcoin hundred thousand dollars but you only borrowed twenty-five thousand dollars at four point five percent, what if Bitcoin you know loses 50 percent of its value then what happens?
Zac: Well you wouldn't have a margin call based on on that example. If your loan to value ratio hits 70 percent that's when we have a margin call and the way the margin call works is our clients have the option to either post more collateral, pay down the loan using USD or some of the collateral that's posted for the loan or take no action. If they take no action there's a 72-hour window where we'll wait to see if the price recovers, if it does then no action is required, if the price keeps going down further then we will initiate a partial collateral sale to rebalance that LTV to a healthy level at the end of that window.
Buck: So in terms of the clients that you see doing this kind of stuff, I mean who are you seeing borrowing because you don't have a cap I mean you can on the borrow side, I mean and the rates don't really change like if you're depositing a hundred Bitcoin you're getting the same rate differences as somebody who's depositing ten for borrowing right?
Zac: That's right.
Buck: So who are the people who are putting I mean what are these businesses that are putting are using these loans who are the typical clients?
Zac: Sure so it's a mix of retail and corporate. On the retail side we actually did a survey recently on use cases and the number one use case about a third of our borrowers expressed is that they were using the funds that they borrowed to start a business, which we were really excited about. So the other popular use cases were investing in real estate, investing in other types of traditional assets like stocks and bonds, home improvement, larger purchases, vacations were all used cases, paying down higher cost debt was another use case, and then on the corporate side the loans are used for operating capital. So we have some mining companies that borrow from BlockFi. Other types of companies who you know maybe have crypto denominated inventory like exchanges or crypto ATM businesses our frequent borrowers from BlockFi and our loan sizes rearranged from you know as low as five thousand dollars all the way up to seven figures. So it's a pretty diverse group of borrowers.
Buck: So recently it sounds like you guys partnered with another company called Casa. What is Casa and I guess how does that benefit both companies?
Zac: Sure. So Casa is a leader in fighting self sovereign storage solutions for cryptocurrency owners so if you're alone that owns Bitcoin and to use a gold analogy. If you want to own gold but you keep it in your vault or in your backyard you want to have physical possession of it yourself if you want to do that same type of custody with Bitcoin. Casa has a solution that makes that really easy. Our partnership with Casa provides mutual benefits to clients on either side. So Casa clients are able to receive some discounts in terms of accessing BlockFi products and vice-versa BlockFi clients are able to receive discounts in terms of accessing kasam products and over time we'll build some things in to the user experience specifically on Casa’s platform that will make it you know a bit more seamless to interact with BlockFi products while you're on their platform. In general that partnership strategy is something that you'll see more of we think there are in the ecosystem that are specializing in areas that BlockFi's not focused on and doing things where we can provide benefits to clients on both sides is a win-win for us then and our clients.
Buck: Last thing I want to ask you about, last time I spoke to you, you had talked about the idea of potentially Bitcoin backed credit cards meaning like you know getting Bitcoin back instead of miles or dollars back. You guys any closer to that, because I definitely want one of those cards.
Zac: I'm so glad you brought it up. We're definitely closer, but we're not you're not going to have the card until like Q3 of next year probably. It's getting worked on, these things you know for better or worse they take a long time launching a credit program is no small feat you know we're working on it. We've identified some of the key partners that we'll be working with to bring that product to market it is going to happen and I share your sentiment like I wish I had it now.
Buck: Yeah seriously that'd be great. Well listen it was great talking you. So it's BlockFi.com and it's spelled like block and then fi and tell us you know tell us the process of doing is pretty simple okay how long does it take to apply for these things…
Zac: Yeah I mean nothing takes any time really. So you could come in and start earning interest and get a loan from us all in under five minutes. And we also have a client service team that's super responsive in in terms of communication however you want to communicate with them, over email, over the phone, over text message so you know don't don't hesitate to reach out to us. We're also on twitter. My twitter handle is BlockFiZac and our company twitter handle is @therealBlockFi so we're very active on those platforms and happy to chat with you there as well.
Buck: Zac Prince, thank you very much for being on Wealth Formula Podcast today.
Zac: Thanks for having me, Buck, I appreciate it.
Buck: We’ll be right back.
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Consensus Network EP36: Buy, Borrow and Die: Bitcoin Style

Catch the full episode: https://www.consensusnetwork.io/podcastepisodes/2019/10/5/ep36-buy-borrow-and-die-bitcoin-style-1
Buck: Welcome back to the show everyone. Today my guest on Wealth Formula Podcast is Zack Prince. He's Founder and CEO of BlockFi. BlockFi bridges the gap between blockchain and the basic financial products that you're used to including interest-bearing accounts and loans. Zack, welcome to Wealth Formula Podcast. I think you we might have had you on before as a Consensus Network replay but first time on Wealth Formula Podcast specifically, so welcome.
Zac: Yeah, excited to be here, Buck. Thanks for having me. And it's good to chat with you again
Buck: Yeah so remind me how you got into this you know Bitcoin stuff in the first place, I mean you were as I understand you were a traditional finance guy right so where did the blockchain part come in?
Zac: Sure so I was I was working at a company in the FinTech world that provided data and technology solutions to institutional investors that wanted to participate in some of the new online lending platforms, whether they were real estate platforms or consumer lending platforms, and I kind of became the FinTech guy amongst my friend group and people would ask me you know should I invest in these real estate deals on fund rise or buy loans from Lending Club and I started writing a blog to share the information more efficiently with my friends basically and I started expanding a little bit writing about Robo advisory and some other things that were going on in the FinTech space and that's what led me to Bitcoin, and this is back in early 2015. I didn't start BlockFi until 2017 because I started following the market in the background, still working in traditional financial services in FinTech and then in early 2017 it started to feel like mainstream adoption was starting to happen in the crypto ecosystem. I'm started going to some meetups in New York City because at a certain point my wife said Zac, you're talking about crypto all the time and you're talking to me about it and I don't want to talk about it so you should find some other people to talk about this with. And the meetup composition started to change and in 2016 when I started going to these meetups it was the early crypto adopters you know libertarians, computer scientists and then in early 2017 I started to see some venture capitalists, some guys who had just left their job at Wall Street still wearing a suit, some more entrepreneurs and it was a really exciting time in the ecosystem, things like the Enterprise Ethereum Alliance were getting announced which had participation microsoft and a lot of other you know fortune 500 companies and I had started to believe in it. I was drinking the kool-aid a little bit so I decided to find a way to get involved in the space full-time and that's what led me to start BlockFi.
Buck: So I have to imagine that the response you got from the traditional finance people around that time when you started talking about the blockchain space and when you started being more and more involved with that was probably not a very positive response initially or did you did you experience some of that sort of you know rejection initially to what you were doing?
Zac: Yeah absolutely. But you know throughout my career this is now kind of the third emerging technology industry that I've worked in. I was originally an advertising technology starting like you know 15 years ago and I was in FinTech specifically the online lending side of FinTech which in its early days was called peer-to-peer lending and now in crypto. So having to do a lot of education explain it you know why something isn't crazy and it might work and here's why and here's the value proposition and here's what it is, I've gotten very used to that and comfortable with it. But yeah there were a lot of people who are like you know I've heard Bitcoin is only used by drug dealers and money launderers. I've heard that I'm supposed to care about blockchain and not Bitcoin. And you know at BlockFi we’re providing financial products into the market so it's a heavily regulated business so we also had to communicate with regulators. We had to explain to state regulators, federal regulators why what we were doing with Bitcoin and other cryptos than when you're doing these same types of things with assets that they're more familiar with.
Buck: So when you were talking to people back in, I don't know I guess 2016/17 and it's not a long time ago, it's only two years ago, but I have to imagine that the response or the you know the approach that people take to you when you speak to investors is very different. Has it become more mainstream in that regard for you know for big money investors?
Zac: It's absolutely become more mainstream you know the end of 2017 Q3/Q4. Point was going on that parabolic run it started to get covered everywhere, I mean it was on CNBC every day it was in Bloomberg New York Times Wall Street Journal. If you were paying attention to the financial industry and markets you heard about Bitcoin at that time if you hadn't heard about it before. So from a baseline of awareness perspective it got a lot better and then in 2018 you had a number of positive developments for the sector including one that I think is probably the most noteworthy which is that Bitcoin futures were listed on the CME the institutional investor perspective that's massive. You now have a well regulated well known super trustworthy venue where you can get exposure to this asset class, you also had companies like Grayscale bringing products to the market which are accessible to certain types of investors and their low bridge accounts and you started to see some adoption from companies like FinTech companies like Robin Hood and Square making Bitcoin available on their platforms. So the conversation has absolutely changed a lot and it's become less about whether or not this is something that's going to continue to exist whether or not it's something that was just a bubble and is going to die and now it's more about ok how is it going to get used how big could it get what are the interesting applications of it and what could have potentially disrupt in the traditional financial ecosystem.
Buck: So you know we had obviously following this you know pop in 2017, you know I actually like you kind of really got into this early 2017 so timing was pretty good I guess now regards. Good or bad depending how you look at it but I was there before before the parabolic move. And then we have you know then we followed this up with a crypto winter and and you know who knows if we're done with it, I guess we certainly are much better off than we were. You know a unit buddy it's funny Zac I don’t know if you remember this but I was about to, we'll talk about BlockFi specifically in a minute but, I was about to use BlockFi for borrowing because I like this idea of borrowing you know collateralized debt and collateralized debt on assets and buying something else. So I was about to do it and then Bitcoin lost a clip and I was like literally and I remember I was just emailing with somebody somebody over there and I was like sorry dude I guess I just sold it, I just sold all that Bitcoin I had and you sent one email back to me and it said “capitulation” but it you know and so now we're looking back at these we go down from 3,000 back up you know been sort of flirting around this 10,000 and it seems like we're kind of maybe that we're stuck there, maybe we're kind of out of winter, maybe we're in a holding pattern but it seems like to me that since that two years not only is the awareness increase but the development of the ecosystem itself is so much further advanced than it was in 2017. Is this an unusual case where the technology and maybe even the infrastructure is actually outpacing the price?
Zac: You know it's really hard to say. I would argue that in some ways it's typical. In other industries that showed a lot of promise where investors could you know participate maybe a little bit ahead of the adoption curve you saw crazy price run ups with the tech bubble and you know ‘99-2000 being the one that's kind of top of mind in recent memory and then on the other side of things, are we behind where the price should be now? It's really hard to say because this is kind of like a commodity type asset built on a payment network and valuing that is challenging and there's not a perfect model for for doing it today. It's not as easy as something that's cashflow producing but I'm incredibly bullish. I'm on record as saying at the beginning of this year that Bitcoin has only had one year in its 10-year existence where it had a lower low than the year before and parted this year around the low price for 2018 and I predicted that we would in the year had a higher price than where we started the year pretty soon and now we're up and you know around 300 percent from where we started the year. As that happens in investing is people frequently look at things on a year-to-year performance basis and when people are looking at Bitcoin even if all we do is stay around 10 K from here when they're looking at how Bitcoin performed rather than other relative to other assets at the end of 2019 it's probably going to look fantastic. And you also have an event coming up and in the summer of next year called The Halvening where basically the supply that's produced by miners is going to get cut in half and so if you believe in the stock the flow type models of valuation for Bitcoin that is usually a very big driver of price appreciation.
Buck: I believe May of 2020, right?
Zac: That's right.
Buck: In May of 2020. Can you just talked a little bit about that just so people know because people hear about it, I've been talking about it but I don't think that it really explained it.
Zac: Yeah and you know I'm not I'm not a computer scientist so I can explain it in a you know in a very simple…
Buck: No one else here is either.
Zac: So basically the way that new Bitcoin is created is through this process called mining. And it's analogous to mining gold except instead of finding a place in the earth where gold exists and then getting your trucks and mining equipment and digging it out of the ground, the way bitcoin is mined is using this computer program and there is now specialized computer hardware that's built specifically and optimized for mining Bitcoin. And you have this network of machines around the world where the input is energy into the mining hardware and the output is new Bitcoin and those miners are what provides the power for the payment network a Bitcoin to run and when we say that there is this event called The Halvening, what that basically means is that the output that's built into the Bitcoin program that the miners are receiving as their payment for contributing energy to the network, is going to get cut in half. So the miners are going to have the same you know relative input but the amount that they're receiving is going to get cut in half for that input. This should, if the demand side for Bitcoin remains equal, it should drive up the price and historically Bitcoin has had three of these Halvening events in its lifetime so far I believe and around each Halvening you have seen you know six months before or six months after a pretty material run up in price.
Buck: Yeah so it also goes along with that sort of that the entire idea that Bitcoin unlike you know other assets including gold is it's a deflationary asset ultimately and and that's one of the things that makes that happening really significant. Apart from and I have one more question before we get to block five which is apart from the Halvening, you know thing that's happening, what is maybe the biggest development or upcoming thing that's coming up that makes you the most bullish on the future of Bitcoin or blockchain in general?
Zac: Sure so I think I wouldn't actually point to any one specific thing, I would point to two broad trends. So one is institutional adoption and participation in the asset class and the other is better ramps for retail participation into the asset class and just focusing here you know on the US market because it really is an international story but just in the US market. In September we should have Bakkt launching their futures platform. Bakkt is owned by ICE, the Intercontinental Exchange, and there's a big core difference between their futures and the current futures that are available on the CME in that futures on Bakkt platform are going to be physically settled so that means that actual Bitcoin is going to be needed to facilitate the trading on Bakkt’s platform which does not happen on CMEs exchange so that's that should be a very positive catalyst in terms of demand for physical Bitcoin that could have an impact on the price. Also on the institutional side this year I believe earlier this year, the first pension fund made an investment into an asset management vehicle that was focused on investing in Bitcoin and private equity opportunities in the Bitcoin and blockchain sector. So that will be a trend.
Buck: Which pension fund was it?
Zac: It was in North Carolina so I think it was like the North Carolina Firefighters and the group that raised the money from them was Morgan Creek Digital it’s actually invested in BlockFi by Anthony Pompliano Twitter and Mark Yusko so that's on the institutional side. And then on the retail side you've seen FinTech companies like Square and Robin Hood offer Bitcoin trading to their users. But soon you will also have companies like TD Ameritrade E-Trade and others offer Bitcoin to their users sometimes be a partnership sometimes because they've built it directly. You also at some point might see progress made in terms of an ETF getting approved that would give retail investors in the US market exposure to Bitcoin in a really easy and familiar way. All of those things are tremendously positive catalysts and the caliber of people working on them only continues to increase. Talent was attracted into the sector very, very rapidly these days.
Buck: You know one question that leads me to is that all of this is happening with Bitcoin for the most part. Are alt coins in your opinion is that market coming back or is that something that we're gonna see probably select you know group of tokens projects emerge and then the rest will kind of just get left in the dust, what do you think?
Zac: I mean I'll tell you exactly what I'm doing with my portfolio and then I'll provide a bit more color. So my asset allocation in the crypto side of my investing is I'm like 90% Bitcoin 5% Ethereum and 5% B&B; which is the Binance right. So I'm super bullish on Bitcoin. I think that you know there's a chance that Ether makes a comeback specifically I think that a lot of the stable coins that have been launched have been built on Ethereum if you're not familiar with stable coins it's basically the concept of a dollar but on a blockchain which could be really really powerful because it creates the opportunity for the delivery of US dollar denominated financial services at a global scale not using the traditional banking rails. And then B&B; I mean Binance is the biggest and most successful exchange they have a history of innovating, creating new products, going fast and so I'm taking a bit of a flyer with them but I'm 90% Bitcoin. I don't think that I'm not bullish on any of the other all coins frankly I struggle to see you know the big upside I have heard whispers in the community that there's kind of like a new wave of altcoins 3.0 might emerge, you know could see some some good returns similar to what some of the ICOs did in 2017 but it's not an area of focus for me. So that's my view.
Buck: Yeah let's talk about BlockFi. Remind us exactly what BlockFi is.
Zac: Sure so we're a wealth management platform for crypto investors. Today we have two products that we offer. One product is analogous to a savings account from a traditional bank where you're able to earn interest on your holdings except on BlockFi, the assets instead of being dollars are bitcoin and Ether and we don't have FDIC insurance so it's not exactly the same risk profile as a savings account at a bank, but conceptually you're able to hold Bitcoin and an account with BlockFi and earn interest on it paid in Bitcoin every month. That's one product that we have. The second product that we have which you are alluding to earlier offers our clients the ability to borrow dollars secured by the value of their cryptocurrency and it's analogous to a securities backed loan or a liquidity access line in the traditional world except instead of securities we're taking Bitcoin or other digital assets as collateral and lending it rates as low as four point five lending USD that rates as low as four point five percent a year.
Buck: I wanna pick these apart a little bit if you don't mind. In terms of this savings account first of all is it just bitcoin or is it bitcoin, Ethereum?
Zac: We actually support three assets in the interest account currently Bitcoin, Ether and GUSD which is the stable coin from Gemini.
Buck: Got it. And talk about the interest because it's not one flat interest rate right it's different depending on how much cryptocurrency actually is held?
Zac: Correct so there's a tiered interest rate structure. Currently on Bitcoin for balances up to ten Bitcoin, we offer a six point two percent annual yield and for balances above ten Bitcoin it's a 2.2 percent annual yield. On Ether, for balances up to two hundred Ether it's a 3.3 percent annual yield and balances above two hundred Ether is 0.5% annual yield and for GUSD the stable coin it's an eight point six percent interest rate with no tier so yeah those are the different rates.
Buck: Why did, I mean was it just a matter of like an issue with people dumping like a thousand Bitcoin and trying to get six you know 6% of that, was it just too hard to you know make that a long-term part of the business model or why did the higher levels end up changing to a lower rate?
Zac: Sure so I wanted to function of market conditions and to it's a function of supply and demand. So we launched the interest account in March of this year. We were just starting to come out of the bear market and one of the things that happened as we switched from being in a bear market to being in a bull market is the futures switched from being in backwardation to contango which basically means that our institutional borrowers the groups that we lend to that enable us to pay the rate to depositors had less of a need they had less demand to borrow and they were willing to pay lower rates to borrow crypto than they were when we were building and planning to launch this product. The second thing that happened is we were surprised to the upside in terms of the level of interest that we received from depositors and especially depositors with very large sums of cryptocurrency. So to give you an example you know within a day or two of making the product available publicly, we had a number of groups that were depositing 5, 10, 15, 20 million dollars worth of Bitcoin and so the supply-demand that we have to manage is, the amount that we have on deposit relative to the size of this market that will borrow Bitcoin size of the market that will borrow Bitcoin is partially a function of market sentiments partially a function of number of trading venues and the liquidity profile and it's partially a function of you know BlockFi’s efforts in terms of sales and client development relationship management. So the supply side got a little bit ahead of the demand side on deposit and how much there was available to borrow so we made a few tweaks. We want to keep the 6%, 6.2% rate on Bitcoin available to as many people as possible for as long as possible so that's why we went with the tiered structure where we made it available on balances up to 10 and reduced it for balances above that.
Buck: Got it and the interest on that, when you say 6.2 percent that six point like it's all denominated in Bitcoin, you're not paying cash out right?
Zac: Correct so to use round numbers to provide an easy example you start on January first with a hundred Bitcoin in an account, by the subsequent January first you will have 106 point 2 Bitcoin in your account.
Buck: Yeah and that that's kind of neat too because then you're you know you're also getting potentially the upside of that you know I mean they made 6% but if you if you're really bullish on the market you could be potentially looking at a lot more than 6% on your money. How about in terms of the, is there like a you know do you do it sort of a month-to-month or six month or month you know year-long contracts for these things?
Zac: It's month-to-month. So the rates are subject to change on a monthly basis. We provide notifications at least a week in advance before the end of one month on what the rates will be for the subsequent month and people are able to you know withdraw any time without penalty. We reserve up to 7 days to process withdrawals but we've never taken more than one business day to process a withdrawal so they're pretty quick but not instant for security reasons and yeah it's pretty flexible.
Buck: How about the lump in the lending side how does how does that work? So now I've got like 10 Bitcoin and so I would deposit that I guess and you guys I understand that maybe that that goes into like a Gemini account or something, is that still how it works?
Zac: Correct so we have a partnership with Gemini for custody. So when you log into a BlockFi account you'll have a deposit address. When you send Bitcoin to that deposit address it actually goes directly into storage with Gemini. Gemini was the first custodian in the crypto sector to receive insurance against cyber hacks on their platform. They were also the first custodian to get to complete a SOC 2 compliance audit and they have a really long track record of custody billions of dollars worth of crypto without ever having any issues. So it goes directly to Gemini and then you're able to interact with block-wise platform to take any actions that you might deem necessary. So you can view your interest payments you can withdraw you can deposit more you can also take out a loan. So in terms of taking out a loan, if you have ten Bitcoin that's worth roughly a hundred thousand US dollars at this point in time, you can borrow up to fifty percent of that value in a US dollar loan which can be funded be a wire or stable coin and then the structure of those loans is that you make interest-only payments on the amount that you borrowed throughout the duration and you can prepay at any time without penalty.
Buck: And what's the typical you said it was four point six.
Zac: We have interest rates as low as four point five. The interest rates on borrowing USD vary according to your initial loan to value ratio. So if you have a hundred thousand dollars worth of Bitcoin we actually have three loan-to-value ratio options. You can borrow at a 50 percent initial loan-to-value ratio which would mean you're borrowing 50k, the interest rate on that will be eleven point two five, if you borrow thirty five percent of the value so 35k the interest rate is seven point nine, and if you borrow twenty five percent of the value of the interest rate is four point five percent per year.
Buck: Got it. In terms of you know the technical, so you basically pay that on a month-to-month basis and then in terms of contracts, are those also month-to-month loans or how does that work?
Zac: Those are one-year term loans well now it's the ability to renew without repaying the principal at the end of the term at current rates and our rates for those loans have always come down so far. So it's a one-year term loan BlockFi committed for a year at that rate your payments stay the same but you can prepay at any time without penalty.
Buck: Right. When do you do when would you do an actual sort of I guess a cap will call like what loan-to-value because you can go up to say you're borrowing at you know you're borrowing at the lowest rate you know you're at 4.5% you're borrowing see you know just for round numbers 100 Bitcoin you borrowed or you said 10 Bitcoin hundred thousand dollars but you only borrowed twenty-five thousand dollars at four point five percent, what if Bitcoin you know loses 50 percent of its value then what happens?
Zac: Well you wouldn't have a margin call based on on that example. If your loan to value ratio hits 70 percent that's when we have a margin call and the way the margin call works is our clients have the option to either post more collateral, pay down the loan using USD or some of the collateral that's posted for the loan or take no action. If they take no action there's a 72-hour window where we'll wait to see if the price recovers, if it does then no action is required, if the price keeps going down further then we will initiate a partial collateral sale to rebalance that LTV to a healthy level at the end of that window.
Buck: So in terms of the clients that you see doing this kind of stuff, I mean who are you seeing borrowing because you don't have a cap I mean you can on the borrow side, I mean and the rates don't really change like if you're depositing a hundred Bitcoin you're getting the same rate differences as somebody who's depositing ten for borrowing right?
Zac: That's right.
Buck: So who are the people who are putting I mean what are these businesses that are putting are using these loans who are the typical clients?
Zac: Sure so it's a mix of retail and corporate. On the retail side we actually did a survey recently on use cases and the number one use case about a third of our borrowers expressed is that they were using the funds that they borrowed to start a business, which we were really excited about. So the other popular use cases were investing in real estate, investing in other types of traditional assets like stocks and bonds, home improvement, larger purchases, vacations were all used cases, paying down higher cost debt was another use case, and then on the corporate side the loans are used for operating capital. So we have some mining companies that borrow from BlockFi. Other types of companies who you know maybe have crypto denominated inventory like exchanges or crypto ATM businesses our frequent borrowers from BlockFi and our loan sizes rearranged from you know as low as five thousand dollars all the way up to seven figures. So it's a pretty diverse group of borrowers.
Buck: So recently it sounds like you guys partnered with another company called Casa. What is Casa and I guess how does that benefit both companies?
Zac: Sure. So Casa is a leader in fighting self sovereign storage solutions for cryptocurrency owners so if you're alone that owns Bitcoin and to use a gold analogy. If you want to own gold but you keep it in your vault or in your backyard you want to have physical possession of it yourself if you want to do that same type of custody with Bitcoin. Casa has a solution that makes that really easy. Our partnership with Casa provides mutual benefits to clients on either side. So Casa clients are able to receive some discounts in terms of accessing BlockFi products and vice-versa BlockFi clients are able to receive discounts in terms of accessing kasam products and over time we'll build some things in to the user experience specifically on Casa’s platform that will make it you know a bit more seamless to interact with BlockFi products while you're on their platform. In general that partnership strategy is something that you'll see more of we think there are in the ecosystem that are specializing in areas that BlockFi's not focused on and doing things where we can provide benefits to clients on both sides is a win-win for us then and our clients.
Buck: Last thing I want to ask you about, last time I spoke to you, you had talked about the idea of potentially Bitcoin backed credit cards meaning like you know getting Bitcoin back instead of miles or dollars back. You guys any closer to that, because I definitely want one of those cards.
Zac: I'm so glad you brought it up. We're definitely closer, but we're not you're not going to have the card until like Q3 of next year probably. It's getting worked on, these things you know for better or worse they take a long time launching a credit program is no small feat you know we're working on it. We've identified some of the key partners that we'll be working with to bring that product to market it is going to happen and I share your sentiment like I wish I had it now.
Buck: Yeah seriously that'd be great. Well listen it was great talking you. So it's BlockFi.com and it's spelled like block and then fi and tell us you know tell us the process of doing is pretty simple okay how long does it take to apply for these things…
Zac: Yeah I mean nothing takes any time really. So you could come in and start earning interest and get a loan from us all in under five minutes. And we also have a client service team that's super responsive in in terms of communication however you want to communicate with them, over email, over the phone, over text message so you know don't don't hesitate to reach out to us. We're also on twitter. My twitter handle is BlockFiZac and our company twitter handle is @therealBlockFi so we're very active on those platforms and happy to chat with you there as well.
Buck: Zac Prince, thank you very much for being on Wealth Formula Podcast today.
Zac: Thanks for having me, Buck, I appreciate it.
Buck: We’ll be right back.
submitted by Buck_Joffrey to u/Buck_Joffrey [link] [comments]

A Cryptocurrency Custody Battle Is A-Brewing—The Ledger

Talk about a custody battle. A slew of startups and established financial giants are vying to become the trusted vault for cryptocurrency investors’ wealth, a potentially lucrative business that could greatly boost the market for digital assets.
A glimpse of the fight: After months of rumors, Coinbase officially acquired Xapo, the cryptocurrency custody business known for hoarding Bitcoin in a Swiss mountain. My colleague Jeff Roberts broke news of the $55 million deal last week. Apparently, Coinbase outbid Fidelity, the decades-old financial giant, which has lately been busy getting its own cryptocurrency custody business off the ground.
At least one competitor saw fit to tamp down Coinbase’s triumph. BitGo, an early cryptocurrency custody provider, claimed in a blog post that it has been receiving calls from Xapo customers who are worried about the transfer. “The clients calling us are concerned about the safety of their digital assets,” BitGo wrote. No doubt eyeing a sales opportunity, the firm said it would offer “qualifying clients” a year of custodial service free of charge. (Shortly thereafter, BitGo also hired a top Xapo executive as its chief revenue officer.)
A land-grab is clearly underway—pun intended, given Xapo’s granite fortress—and other rivals want a piece of the action too. Let’s not forget Anchorage, a startup that recently raised millions of dollars from Visa. (Both companies are founding members of Facebook’s cryptocurrency coalition, Libra.) And Bakkt, a sibling of the New York Stock Exchange which counts Microsoft and Starbucks among its backers, finally appears poised for its long-awaited debut. The venture said Friday it had received a regulatory green light; it plans to launch its product on September 23 (despite originally planning to launch at the end of last year).
If institutional money is truly going to flow from the sidelines into the digital asset industry, as many cryptocurrency enthusiasts hope and expect, custody will be key. Earlier this year when I spoke to Chris Dixon, a cryptocurrency investor at Andreessen Horowitz, he described custody as “the single biggest piece of infrastructure holding back the growth of the space.” A lot has happened since then.
Brian Armstrong, Coinbase’s CEO, is ebullient about the prospects. “The institutional space for crypto is going through a period of incredible growth. Many still don’t realize it,” he wrote in a post on Twitter earlier this month. Custody “has been a huge unlock for the industry,” he added.
The real unlock will come, however, when regulators issue clearer guidance about what exactly constitutes a qualified custodian in the realm of cryptocurrency. In July, the Securities and Exchange Commission and the Financial Industry Regulatory Authority, or FINRA, released preliminary joint guidance on the issue. But the statement didn’t do much to clarify the situation, other than to serve as a signal that the powers that be are mulling the question.
In the meantime, institutional investors courageous enough to move ahead in the cryptocurrency market must choose their custodians carefully. I have a meeting scheduled later this week with the head of digital assets and blockchain at State Street, the world’s second biggest custodial bank, and you can bet I’ll be probing the subject with him.
Robert Hackett | @rhhackett | [email protected]
* More Details Here
submitted by acerod1 to Business_Analyst [link] [comments]

[OUTREACH] Monero Best Practices- Public Service Announcements [DRAFT]

We have completed a call for submissions to develop a series of Public Service Announcements type write-ups that articulate basic Best Practices for using Monero. Our goal is to turn these into a usable product that we will add to the Monero Outreach website (in progress), share with pool operators for their miners, and other potential groups who might benefit.
I am posting the current DRAFT of the PSA content here, in hopes the community can take a look and submit any feedback they might have about the content:
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Intro

It is nearing the end of 2018 and if you are in Monero, you are still an early adopter. The early adoption phase can be exciting, but things can move quite quickly and nefarious people can take advantage of those who are not utilizing best practices to stay ahead of the curve. Congratulate yourself for truly being an early adopter, and consider the best practices listed here in order to stay informed and keep your Monero safe and secure long into the future.

Wallet Security

Your Monero wallet/s is your encrypted digital vault that contains your XMR and keeps it safe. If you want to make sure it stays that way, there are a few best practices you’ll want to follow in order to keep your wallet/s secure as possible. ‘Hot’ Wallets are wallets that are connected to the internet, while ‘cold’ wallets are not. Cold wallets are generally more secure, but they come at a sacrifice to convenience. A ‘hard’ wallet, like the popular Ledger or Trezor, might be viewed as the middle ground between hot and cold wallets because you can connect them to an internet connected device in order to send/receive, but when disconnected they are not accessible via the internet.
Here are a few general best practices to be aware of when it comes to wallet security:
  1. Only use wallets approved by the Monero community in order to avoid scams that might steal your XMR. Do your research before setting up any wallets.
  2. If setting up a cold wallet (one example is a “paper” wallet) for long term storage, be sure to do your research and follow one of the tutorials online that have the strongest and most positive reviews/comments.
  3. Consider keeping a cold wallet for XMR you plan on holding for a while, and a hot wallet for XMR you plan on spending or trading. Think: cold wallet=savings account, hot wallet=checking account.
  4. Research the variety of ways people keep their private keys or mnemonic seeds safe and secure, then chose the option that works best for you. Having any strategy is much better than none at all. Are you seeing yet that research is important?
  5. Follow other best practices here like never share your private keys, only use reputable exchanges, update your wallet/s after every network upgrade/hard fork, don’t talk about how much XMR you have, and always seek to learn more!

Know Your Exchange Safety

Exchanges can be a convenient way to sell or buy more Monero, but not all exchanges are created equally. Here are a few things to keep in mind when it comes to keeping your XMR safe while using exchanges.
  1. Do your own research before using any exchange. Attempt to answer these questions:
    1. Are there positive reviews available through third-party sources? Are they reliable?
    2. Has it ever been attacked? Was the response to the attack appropriate?
    3. How long has the exchange been in operation?
    4. Are the creators/managers known or reputable individuals or entities?
    5. Are you able to maintain your privacy by not sharing any personal information?
    6. Does the website use security precautions like captcha, 2FA, etc? Does it have legitimate security certificates and start with https://?
    7. If you plan on reporting taxes (recommended), does the exchange allow you to download reports for easy proof of buy/sell transactions?
  2. Exchanges create their own wallets for you. You are not likely to have access to the exchange wallet’s mnemonic seed. If the exchange ends up getting attacked or proves to be a scam, you may lose whatever XMR you have on the exchange’s wallet. A good rule of thumb is to only keep XMR on an exchange if you plan to use it soon. Otherwise, move it to a wallet that you control.
  3. If you want to trade a significant amount of XMR over an exchange, consider testing the transaction by trading a smaller amount first. This test amount should be no higher than you would be comfortable losing.
  4. With any XMR transaction, always double-check the send/receive wallet addresses to make sure they are correct. Even if you copy/paste the address, confirm it was pasted correctly, as there are known attacks that will manipulate a cryptocurrency address when it is copy/pasted. If your device was somehow infected by that malware, a simple double-check to confirm it pasted properly is all you would need to protect your XMR.
  5. As time goes on, decentralized exchanges will become more common. With Monero being a decentralized cryptocurrency, these exchanges are aligned with the ethos of Monero. Consider using them, but as always, do your research first!

Community Participation

Monero is a completely decentralized, open-source project. Anyone with a good idea and some initiative can create and lead a project in support of Monero. If you are not a developer and interested in supporting Monero in other ways, there are many options. Monero projects organize themselves into various workgroups. There is a Localization workgroup focused on translating all Monero content to help spur adoption throughout the world, an Outreach workgroup focused on creating tools to facilitate better public relations and greater adoption of Monero, and even a workgroup focused on developing a hardware wallet for Monero. Others exist too. If you are a developer, you can join a few hundred other developers to date who have contributed to Monero’s code, via GitHub.
The first stop when it comes to community workgroup participation is the Community workgroup, which focuses on organizing all of the other workgroups. They will be able to tell you if your idea has already happened and which people to work with to take it even further. Or if your idea is brand new, they will connect you with some resources to help facilitate your idea coming to reality. Monero’s Core developers have provided us with a handful of tools to help enable successful workgroups, including Mattermost for communications and Taiga for project planning and task flow management. Individuals can also participate through lively discussions that happen on several different Slack and IRC channels, through many different Telegram group chats, on Reddit via Monero or the many subreddits dedicated to niche areas of Monero (like mining or speculating), and by asking or answering questions about Monero on Stack Exchange.
The only barrier to you participating in the community is you. We invite you to join the cause and make this decentralized, open-source community even stronger!

Don’t Talk About How Much Monero You Have

Sayings like “Loose lips sink ships” and “Out of sight, out of mind”, exist for a reason. When you talk about how much Monero you have, you may inadvertently be making yourself a target. This is especially true in cases of online forums and social media. Attackers prowl the internet looking for people to reveal information about themselves that they might be able to take advantage of. Let’s just look at an example:
Adam comments to Eve in a public comment on social media that he just bought 30 XMR. Badguy sees Adam’s comment and decides he wants those 30 XMR. Badguy scans Adam’s social media profile to learn all about him and with the information he gleans, is able to crack Adam’s password for his email account. Badguy then learns of other accounts Adam has and traces Adam back to his physical location via IP address. From that point Badguy can utilize a plethora of attacks to highjack Adam’s XMR remotely. Or if he lives close enough, Badguy can physically show up to Adam’s house, steal his computer, and take all the time he needs to crack into Adam’s Monero GUI wallet and send all of Adam’s XMR to his very own Badguy wallet. If Adam hadn't of said anything, he wouldn't have been a target at all.
Obviously this is an exaggerated example, but in reality there are dozens of scenarios in which information you share can make you a target, and even more examples of how attackers can use that to their advantage and make you their next victim. Advocating for Monero and teaching new users about its many uses is one thing, boasting about how much XMR you own is another. It is advised to stick to the former and avoid the latter at all costs. Don’t talk about how much Monero you have.

Never Share Your Private Keys

Your Monero is safe, as long as your private keys and private mnemonic seed is safe. Your private keys and your private mnemonic seed are the only way you can access your wallet and spend/send your XMR. If you share them, then whoever you share them with (or whoever has the technical expertise to steal them from who you shared them with), has just as much access to your wallet as you do. You may think you are doing a good thing by keeping your private keys separate from your physical location, but what if grandma forgets your instructions and leaves them on the windowsill and a stranger walks by and reads (records) them? Then you wake up one morning and all of your XMR was sent to an unfamiliar address. Since Monero is so private, you will have no way of finding out who owns the unfamiliar wallet and you will not be able to recover your missing/stolen XMR.
Sometimes other cryptocurrency projects will hard fork the Monero code then claim you will receive 10x coins, and “all you have to do to claim your 10x coins is share your private keys”. If you come across this, don’t touch it with a 100 foot pole. Not only are they probably trying to scam you, but they also may be trying to compromise the integrity of Monero as a whole. Scammers depend on your greed to do many nefarious things. Don’t let that happen to you or to Monero.
The only thing you should ever share is your view key- and only if you want to be able to verify transactions going to your wallet for others to see. If that is of no use to you, then don’t share any keys. If someone is claiming they need anything besides your public wallet address (or in some cases your view key), they are probably attempting to scam you and steal your coins. Long story short- never share your private keys.

Know Your Hard Forks

Unless you are a developer, the term ‘hard fork’ may carry a lot of confusing and potentially negative connotations for you. After all, you may have read an article or two about hard forks and how it created contention or drama among certain crypto projects. Monero is not immune to hard forks, but they manifest in interesting ways. All of them are equally important to know about. The types of hard forks you may learn about in relation to Monero fall into three main categories:
1) Network Upgrade/ Regularly Scheduled Hard Fork- Monero developers aim to schedule two regular hard forks per year. These hard forks are always done by community consensus and led by Monero core developers. They typically include several improvements to the code, making Monero even bettefastestronger. It is imperative as a Monero user that you upgrade your Monero wallet/s every time this occurs, and it is no one’s responsibility to do so but your own. No one said being an early adopter was easy, but if you are paying attention, it’s not hard either.
Other projects in the past have used Monero’s regularly scheduled hard forks to their own advantage and renamed their own projects on Monero’s old chains. These projects often fail in short time, and feed upon the greedy nature of individuals. If you fail to update your Monero wallet/s after one of these hard forks and send your XMR, you may end up losing them on a different chain or having to spend a significant amount of time trying to recover them. It is best to just upgrade your wallet/s after every regularly scheduled hard fork/network upgrade.
Safety level: Upgrading your Monero wallet/s after these hard forks is your safest option and is recommended. Please proceed in a timely manner.
2) Hard Fork of New and Legitimate Projects- Some legitimate projects will fork away from Monero, utilizing its underlying code to pursue their own goals. There are a few factors to look for when determining whether the project is legitimate. If it is indeed legitimate, you will see:
Safety level: If it is a legitimate coin, you will not be required to do anything with your existing Monero wallet/s to access it. Instead, you will be able to mine or buy them on your own. Proceed at your own best judgement.
3) Scam or Attack Hard Forks- These projects will look like the opposite of what was mentioned in the legitimate project category. They will likely have a pre-mine where only developers will receive a few thousand or million coins. They may require you to share your private Monero keys in order to ‘claim’ the new coins. There will likely be many negative posts by savvy Monero users who are sounding the alarm against the malicious project. They will have no intention to give back to the Monero community and may even be blatantly challenging it with hostile language. These projects are motivated by greed, both on the side of the developers and on the side of the users (read victims). In some cases, particularly in the case of projects asking individuals to share their private keys, they may be a deceptive attempt to attack the Monero network itself and weaken the privacy/anonymity of its users.
Safety level: Strongly recommended to avoid these coins. Proceed at your own risk and in some cases, be aware you may also inadvertently weaken the Monero network through your participation in these coins.

Seek To Learn More

As of the time of this writing, common assumptions say a vast majority of the Monero community consists of early adopters who are more technologically savvy than an average layperson. Monero code has been worked on by a few hundred developers, which is many more than most crypto projects can claim. Some speculate one reason Monero price has not grown closer to Bitcoin is because the technology behind Monero is hard for laypeople to understand and comprehend its significance. But we early-adopters continue to march forward in hopes of Monero becoming more widely recognized and adopted. Monero 100 years from now will still depend upon people, people like you, working to safeguard its ecosystem and advancing the code even further. These are all reasons why we recommend people should always seek to learn more, especially if you’re not a developer. You can strengthen your ‘Monero literacy’ by consuming as much information as you can.
By learning more about Monero’s features, the code, the open-source cypherpunk ethos that started it, and ways to improve security and privacy while using it, together we can make the Monero ecosystem even stronger. By having a strong grasp on all the aspects of Monero, you will also be able to speak to others about it and help drive greater adoption. You will feel more comfortable and confident while storing, using, and transacting XMR. Knowledge is power and it can change the world. Always seek to learn more… and do your own research! The future starts with you.
submitted by xmrhaelan to Monero [link] [comments]

How You Can Invest in Gold by Using Blockchain Technology

How You Can Invest in Gold by Using Blockchain Technology
If you’ve been following recent tech news, chances are that you’ve heard about cryptocurrencies, and blockchain technology. Numerous experts claim that blockchain technology is bound to revolutionize most of the world’s industries, starting from the financial market, all the way to changing how we vote for our political representatives.
In today’s article, we’ll briefly cover the impact of blockchain technology on gold, and vice-versa, while also introducing Digital Gold — a ground-breaking solution to investing in the gold market.

https://preview.redd.it/hfrn0sbu93b31.jpg?width=1200&format=pjpg&auto=webp&s=156dfde15ad9ae73cc7be58a73d23a14882a07dc
The digitalization of gold
As you may already know, gold is one of the world’s most precious metals. For thousands of years, people have used it as a payment method, or for storing their wealth. To this day, it remains highly-popular, despite the fact that most people purchase it as jewellery.
So, how can blockchain technology and gold be used together to ensure that blockchain tech reaches its full potential, and that gold’s usability as an investment tool, payment method, and wealth storage asset can be improved? The answer is simple: By digitizing gold.
Digital Gold represents an innovative project that will use blockchain technology to tokenize gold, thus making it easily accessible to people throughout the world. By purchasing the GOLD token, you’ll get coverage in real gold that’s stored at the company’s secure vault. Digital Gold uses an ERC-20 Ethereum-based token that’s easy to purchase, transfer and store. Blockchain’s architecture also ensures user privacy and asset security.
Are there any benefits to this?
Quite a few, actually. For starters, by purchasing the GOLD token, you’ll be able to use gold as a payment method. So, you definitely want to read on if instant and free worldwide money transfers sound good to you. Additionally, gold also serves as an excellent investment. While the price changes, it has relatively low volatility, and it definitely keeps its value long-term. Any financial consultant will recommend that you diversify your portfolio, and that you never keep all your money in the bank.
In case you haven’t experimented with crypto before, this might just be the right moment. After all, bitcoin has a very large volatility rate, so you never know whether your investment is safe. Of course, we cannot deny the high reward potential, but many investors are fans of safer methods. Since the GOLD token is a stablecoin that’s pegged to the value of gold, buying it is just like purchasing actual gold, without having to go through any complicated procedures.
Based on this, if cryptocurrencies and blockchain are the future of finance, you won’t regret starting with Digital Gold.
Website : https://gold.storage/ Whitepaper: https://gold.storage/wp.pdf
Follow us on social media: Twitter: https://twitter.com/gold_erc20 Facebook: https://www.facebook.com/golderc20 Telegram: https://t.me/digitalgoldcoin
submitted by digitalgoldcoin to golderc20 [link] [comments]

Argyle Coins The True ‘Diamond’ of Crypto

What Is the Argyle Coin, and What Does It Offer?
The Argyle Coin is the first cryptocurrency correlated with natural fancy colored diamonds. The project’s platform also aims to provide purchasers access from their laptop or smartphone anywhere in the world to directly purchase, trade, and invest in fancy colored diamonds.
Based on blockchain technology, the Argyle Coin offers a fast, highly secure, advanced system that creates a global market for fancy colored diamonds. The templates provided simply create smart contracts controlling management and execution, which ensures fair trading conditions among parties.
With the Argyle’s smart contracts, it is possible to arrange:
• providing a digital provenance (like a digital “fingerprint” showing the origin and chain of title) of each diamond from the moment it comes out of the ground
• providing a worldwide marketplace for multilateral financing
• enabling smart contracts to allow for whole and fractional purchases & sales
Unique and Real Economic Solutions
Today, hundreds of new altcoins are cropping up. Many of them are likely to fail. According to DeadCoin, by May 2018, over 800 altcoins had come and gone. Of those some never even reached ICOs, failing to overcome the difficult process of development or adverse market issues.
The main differentiator of Argyle Coin is that it correlates with a real commodity-backed asset without relying upon an incremental market-speculation. The Argyle Coin also bypasses the myriad of issues that can crop up during the ICO process by delivering a completed cryptocurrency to the market. In addition, the token’s connection to real fancy colored diamonds, will over time potentially increase the value of the token in-line with the value of the fancy colored diamond market that historically had significant gains.
Unique Argyle Coin Features
The Argyle Coin’s features include:
• its own blockchain platform used for processing transactions
• proof-of-work implementation to provide better security and verify all types of transactions
• a decentralized storage unit holding physical RGL
• RGL will trade with fiat currencies according to relevant coin value
• smart contract tools to facilitate diamond transactions and tap into a worldwide market of investors
• opportunity to possess the first coin created for the globalization of fancy colored diamonds
We determine that a purchase of Argyle Coin is worthy of being marked in the ‘Win’ Column. Acquiring the Argyle Coin is a great solution for your business strategies. With Argyle’s smart contracts the user is getting an alternative coin that is transparent, stable and secure.
The Argyle Coin is built on the private Ethereum-based blockchain, it encrypts. This secures all transactions and provides an environment based upon proof-of-work. It is also ASIC (Application-Specific Integrated Circuit)-resistant. This ensures equality and value for all Argyle Coin miners in their mining efforts.
Additionally, you can track, rate and allow anyone to buy and/or sell fractional ownership interests of a diamond gemstone through Argyle’s smart contracts.
Argyle also allows you to track the timeline of a fancy colored diamond ownership via blockchain technology. The accompanying software tools contain the physical properties of a diamond as well as its paper certification of origin. This primarily helps prevents fraud at all levels. It also enables wholesalers, retailers and even border agents to access actual certification with an electronic ledger. The ledger provides access to a secure digital vault and the origins of where a fancy colored diamond was mined.
Argyle Coin ICO Details
Argyle will issue a maximum of 5,770,000 RGL (RGL’s Sale Offering). Argyle will offer 3,462,000 RGL at a price of $10.00 per coin.
• 446,200 RGL via pre-sale
• 3,000,000 RGL via crowdfunding
All Tokens will be allocated after the ICO offering. Crowdfunding will be completed through use of the Argyle Wallet. Buyers will be able to purchase tokens using:
• USD during the Pre-Sale stage
• Bitcoin, Ether, Litecoin during the ICO
Additionally, pre-sale, Pre-ICO, and ICO participants will receive a bond that helps insure functionality of the token. After crowdfunding is finished all unsold tokens will be burned.
Argyle is proud to announce that on August 28, 2018 it purchased a Guarantee Bond creating a new class of ICO.
A New Class of ICO: a Guarantee Bond for Investors
The founders, after undertaking all the technical and legal steps to bring Argyle to the market, also took out a bond that will pay back money in the event the token’s transferability is unrealized. Argyle Coin purchased a surety bond, which is a financial instrument. In the event the cryptocurrency cannot be traded from the company’s wallets due to technical issues or other unforeseen problems, purchasers will receive money back from this bond.
Thus, the Argyle Coin has created a new class of ICO that guarantees the performance of its blockchain platform. Taking into account that many cryptocurrencies fail to have a viable token traded among other purchasers, it is impressive the company seized this opportunity with buying such a bond.
These efforts will help make sure that all purchasers receive a token capable of transacting not just with other token buyers, but with other cryptocurrencies. In the unlikely event that the token does not perform as designed, the original investors will receive their pro rata portion of the bond’s value back.
submitted by Purdy8 to CryptoMarkets [link] [comments]

What is Finatch?

ABOUT FINATCH Finatch is a private Blockchain Technology Company which aim's at revolutrionizing the Blockchain Technology industry.
Looking at the lack of stable, fast and reliable decentralized crypto exchanges which causes inconviniences to crypto traders in the space. We have come up with the solution to the problems faced by decentralized exchanges.
There are basically two different types of exchanges: Centralized and Decentralized exchanges. We will focus on the Deentralized exchange system. We have a strong belief that Decentralized based crypto exchanges will be bigger than Centralized based crypto exchanges in the nearest future, because Blockchain is all about Decentralization.
They will play an evermore role in the world of finance, and we call this FINATCH EXCHANGE. FINATCH EXCHANGE Finatch Exchange is a Decntralized crypto exchange, which is run and powered by the Finatch Smart Contract Blockchain. Problems Poor technical architecture in Decentralized exchanges There are a good number of exchanges set up by professionals who have little or no experience in finance or in operating an exchange. They often take the easiest route to get the system up and running. While this may work well in the beginning, as traffic grows, the system will not be able to handle the increased load. Exchange systems need to be engineered from the ground up with security, efficiency, speed, and scalability in mind. This often slows down the initial development, but is critical for long-term success.
Our team has decades of combined experience building and maintaining world class financial systems that shape the economy. We understand how these systems are built from the ground up. Slow Smart Contract confirmation time Deployment of Smart contract on the blockchain takes time and causes inconveniences becauses of the poorly built blockchain, this results in a bad user experience in decentralized crypto exchanges.
Our team has designed a new and capable type of Blockchain that speeds up confirmation time for smart contratcts, making the platform user friendly and smooth. Insecured Platform There are hundreds of exchanges that went down due to being hacked.
Finatch is built to top notch quality, audited, and penetration tested. We have experience building financial systems to the highest security standards and strive to ensure security first. Poor market liquidity Professional traders and normal users are significantly affected by this. Having a shallow orderbook means high slippage when trading, which is very expensive for traders.
Finatch’s team have been in both the finance and crypto industry for many years. The team has worked on and operated a number of exchanges, and have accumulated a large network of partners in this space. These partners will be key in bootstrapping the exchange. Poor customer service Traders are a different breed when it comes to users. Understanding the trader mentality is vital for running a successful exchange. Money is literally on-the-line. Many exchange service trades as if they were running a social media site. A 3-second delay in seeing your friends’ status update would hardly be noticed, but on an exchange, the same would be unacceptable, resulting in a torrent of user complaints.
In additional to the technology stack, Finatch is built with service in mind. Finatch shares and supports responsibilities across the entire staff and company. When a trader has a problem, they get an answer directly from someone who knows the system and not someone reading from a script. Limited access to decentralized services There are few existing decentralized exchanges with close to good user interface and lacks quick and reasonable smart contract transaction fees, causing slow platorm functioning.
Our team has designed a new and capable type of Blockchain that speeds up confirmation time for smart contratcts, making the platform user friendly and smooth. Poor internationalization and language support Blockchains have no borders. Most exchanges focus only on one language or one country.
Our international multi-lingual team has extensive working experience in North America, Europe, Asia and Africa and we are able to smoothly support the global market. Lack of transparency All trading activities should be decentralized and open to the general public to insure trust and transparency in trades. Centralized crypto exchanges lack this quality.
Finatch runs on a Decentralized crypto platform where all trading activities are transparent.
Finatch is a Crypto Decentralized crypto exchange that has the feel and look of Centralized Crypto exchange but with more convinience And extra Blockchain Security Layer. An Exchange where you own your private keys.
Finatch exchange is a huge decentralized trading exchange platform equipped with various sub-platform, trading tools and secure decentralized wallet.
Finatch exchange consists of various sub platforms to choose from, this changes the trading experience namely: 1. Binary Platform: Fin vault platform, FinBox platform 2. Finatch trading tools: Finatch exchange have the best trading tools ready for traders on all our trading platform, taking trading experience to the next level. You can choose from our multiple trading tools the one that suits your trading skills. 3.Andriod and iOs Mobile Trading Application. MATCHING ENGINE With our Unique Smart Contract Blockchain Our matching engine is capable of sustaining 1,500,000 orders / second, making Finatch one of the fastest exchanges in the market today. You can be certain, on our exchange, that your orders will never be stuck due to the matching engine being overwhelmed.
FEATURE ROLLOUT We will roll out the platform in roughly the following order: Decentralized (on-chain) exchange Spot trading Margin trading Futures Anonymous instant exchange and more... COINS Finatch will support trading pairs in the following coins: BTC ETH LTC BCH FIN (Finatch Coin) More coins will be added over time. We generally will only add coins that have strong credibility, user base, and liquidity. If you have a coin that you wish to be listed on Finatch later. DEVICE COVRAGE We will provide cross-platform trading clients for: Web-based decentralized trading client Android native client iOS native client (pending App Store review) Mobile HTML5 client (including WeChat H5 client) PC (Windows) native client REST API MULTILINGUAL SUPPORT We will support English, Chinese, Japanese and Korean on all of our user interfaces. (The very initial release will be in English only.) More languages will be added over time.
FINATCH COIN We will build our own Blockchain based Crypto coin, called the Finatch Coin. The Finatch Coin Total Supply is capped at 952.5M, but a strict pre mine of 200M FIN will be mined during the genesis Block. FIN Coin will run on the Finatch Blockchain. Percentage (%) Amount (FIN) Participant 25% 50,000,000 Airdrop&Bounty Programs 25% 50,000,000 Project Development 40% 80,000,000 Founding Team 10% 20,000,000 Angel Investors No ICO or Pre-ICO will take place. 50% of pre-mined Coins will be distributed to the general Public Via Airdrop stages and Bounty Programs. FIN VALUE AND REPURCHASING PLAN You can use FIN to pay for any fees on our platform, inculding but not limited to: Exchange fees Withdraw fees Listing fees Any other fee
When you use FIN to pay for fees, you will receive a significant discount: 1st year 2nd year 3rd year 4th year 5th year Discount Rate 60% 30% 12.5% 6.75%5 no discount
REPURCHASING PLAN Every quater, we will use 15% of our profits to buy back the pre-mined FIN coin and Burn them, until we buy up 50% of the pre-mined FIN coin during genesis block (100M) back. All buy back transactions will be annouced on the blockchain. FUNDS USAGE
35% of the funds will be used to build the Finatch platform and perform upgrades to the system, which inculdes team recruiting, training, and the development budget. 50% will be used for Finatch branding and marketing, including continuous promotion and education of Finatch and Blockchain innovations in industry mediums. A sufficient budget for various advertisment activities, to help Finatch become popular among investors, and to attract active users to the platform. 15% will be kept in reserve to cope with any emergency or unexpected situation that might come up. FINATCH BLOCKCHAIN Finatch Blockchain is a powerful unique blockchain built to solve the problems of long confirmation times and high transaction fees on smart contract Blockchains.
We also solve the scalablity problem with block size, by increasing the block size limit to 1GB. Finatch Blockchain can handle more than 100,000,000 tranactions per second, with as little to as low as $0.001 tranaction fee, making our blockchain the most convinent and reliable blockchain in exixtence.
Our Blockchain runs on Scrypt PoW/PoS and Fault Tolorence Algorithms, making it one the most secure blockchains. You can deploy smart contracts, decentralized applications and create your own (FRC Tokens) on our blockchain.
BUILD DECENTRALIZED APPLICATIONS Combining a modified Bitcoin Core infrastructure with an intercompatible version of the Ethereum Virtual Machine (EVM), Finatch Blockchain merges the reliability of Bitcoin’s unfailing blockchain with the endless possibilities provided by smart contracts.
Designed with stability, modularity and interoperability in mind, Finatch Blockchain is the foremost toolkit for building trusted decentralized applications, suited for real-world, business oriented use cases. Its hybrid nature, in combination with a PoS/PoW consensus protocol, allows Finatch Blockchain applications to be compatible with major blockchain ecosystems, while providing native support for mobile devices and IoT appliances.
DEPLOY DECENTRALIZED SMART CONTRACTS Finatch makes it easier than ever for established sectors and legacy institutions to interface with blockchain technology. Create your own tokens, automate supply chain management and engage in self-executing agreements in a standardized environment, verified and tested for stability.
SMART CONTRACT LIFE CYCLE MANAGMENT Finatch, in cooperation with its academic partners, develops tools and methods to standardize the workflow for business smart contract development. This includes the formally verifiable translation of human-readable agreements to machine smart contracts, and the error-resilient specification of their elements, terms and conditions.
SETTING INDUSTRY STANDARDS Cooperating with a series of partners and third parties, Finatch aims to establish a smart contract hub, offering secure and thoroughly tested contract templates, tailor fitted for a multitude of industries and use cases, such as supply chain management, telecommunications, IoT, social networking, Crypto exchanges and many more. ABOUT FIN COIN FIN Coin is a decentralised Cryptocurrency based on Finatch. It is the local based Cryptocurrency of Finatch Blockchain. FIN Coins are cryptographic software tokens used to engage with distributed applications (DApps) and smart contracts on the Finatch Platform. FIN Coins will serve as the staking currency of the Finatch blockchain and fuel computational operations performed by the Finatch network.
SPECIFICATION Total Pre-Mined Supply: 200,000,000 Block Target: 3-15 seconds Stake Return: ~5 FIN Coin Algorithm: Scrypt PoW/PoS and FT The FINATCH Foundation: Governance Structure The development and maintenance of the FINATCH Blockchain, as well as all services provided by FINATCH, are directed and supervised by the FINATCH Foundation - a non-profit organization, representing FINATCH’s stake and token holders as elaborated below.
In order to avoid the inefficient conduct, open source and blockchain projects often suffer from, and to ensure a coherent and standardized implementation of the FINATCH blockchain, the FINATCH Foundation was established under the guidance and support of FINATCH Inc. The Foundation will oversee the development of the FINATCH Blockchain, advocate governance transparency, and promote the safety and harmony of the open source ecosystem.
The design of the Foundation’s governance structure mainly considers sustainability, management effectiveness, and fund-raising security in the open source community. The Foundation consists of various committees, such as Executive Judgment, Code Review, Finance & HR, as well as Marketing & PR. The different committees work in cooperation to manage FINATCH’s daily operations and special occasions with detailed operational procedures and rules.
Learn more here: https://finatch.org/governance-structure
Decentralized Governance Protocol The Decentralized Governance Protocol (DGP) is designed so that individual blockchain parameters can be modified through a specially designed smart contract on the blockchain. Most importantly, this technology allows these blockchain parameters to be changed without any disruption to the ecosystem. After a setting change, no new software must be downloaded by users, and no intervention is needed from stakers, miners and node operators.
The way the DGP works is relatively straightforward. First, a governing party for the DGP makes a proposal to change a parameter. Afterward, all the governing parties for the DGP can vote on the proposal, and if it receives enough approval votes, then the parameter change proposal becomes active. The proposal data is then placed in a standardized format and a particular storage space so that the blockchain software can easily access it without needing to execute the DGP contract directly.
Learn more here: https://finatch.org/decentralized-governance-protocol
The FINATCH Foundation will list the total assets that it holds including Bitcoin, Ethereum, Legal Tender, and FIN COINS. The Foundation will also seek complementary services to aid our efforts in transparency and professionalism with a professional auditing firm, legal team and a professional digital asset management solution. We hope this will help promote the healthy development of the FINATCH Project and serve as a model for other projects. The content will be made public to the community on the FINATCH.org Website
EXCHANGE LIST
Binance
Huobi
Kucoin
Bibox
Qryptos
Satoexchange
BIGone
Bitrue
Bilaxy
Bit-Z
Linkcoin
SECURE WALLET
Ledgerwallet
Trezor
submitted by icoinformation2021 to Finatch [link] [comments]

Coinbase Vault Closes its Doors Xapo Secure Bitcoin Wallet and Insured Cold Storage Vault How To Use Your Coinbase Vault For Extra Bitcoin Security ... 360: The secret Swiss bitcoin storage vault - YouTube Crypto Vault Review - Physical Bitcoin Storage

ElectriCChain is a nonprofit affiliate of renewable energy cryptocurrency SolarCoin.It is a distributed ledger and the self-organizing, decentralized swarm intelligence Internet of Things (IoT) that forms SolarCoin's blockchain backbone.. SolarCoin aims to incentivize a planet powered largely by solar energy. Electrum. Electrum is fast, safe, and private while maintaining low resource usage. It is considered one of the most secure bitcoin lightweight wallets available today. This is a perfect wallet both for beginners and old school elites, It has a wide variety of features such as being able to act as cold storage, do multisign transactions and it can be integrated with the major hardware wallets ... (For example Sia Coin for Sia cloud storage). Other currencies such as Bitcoin and Ethereum too, are gaining mainstream appeal and many merchants have begun to accept them. Bitcoin is the most popularly accepted cryptocurrency. Let us now take a look at a list of merchants who accept Bitcoins and Ethereum up next: The new Bitcoin storage service offering insurance in U.K., named Elliptic Vault, uses “deep cold storage” techniques to secure the digital currency. Bitcoin keys are encrypted and stored offline. Think of a hardware wallet like your own underground steel vault. If you own a significant amount of bitcoin or crypto, you should strongly consider getting one! ... Starting from the ground up, ... "cold storage" refers to any bitcoin storage device that does not require electricity. A cold storage device can be a physical box, a piece of ...

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Coinbase Vault Closes its Doors

This is a Crypto Vault review by YMB's Tim Baker. The online shop sells a few products designed for safe physical Bitcoin storage. In this video, Tim will show off a numbered copper/nickel round ... Xapo.com provides a Free secure, portable Bitcoin wallet that can be used anywhere in the world. Their secure cold storage vault includes insurance so you will never loose your Bitcoins. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Gold/Silver vs Bitcoin/Crypto: Vault Storage Costs & Comparison Bitcoin & crypto on a hardware wallet is infinitely more accessible for trading than gold or ... Underground Vaults & Storage is a 26-acre secured underground facility. They use the space that the Hutchinson Salt Company mine is not using. This is a not open to the public, they have ...

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