Forex 152 CNY to PHP exchange rate Oct, 2020 - 152 ...

Megacoin (MEC)

A subreddit for the MegaCoin (MEC) cryptocurrency.
[link]

[REVIEW] My First Haul

PK BASF YEEZY BOOST 350 V2 CLAYS
 
Seller: Vicky
Payment Assistance: Zendrian Global Trading
Shipping Agent: Zendrian Global Trading
 
January 5 – Inquire the availability of the shoes and its price in CNY from Vicky’s WhatsApp.
January 6 – Paid Vicky through Zendrian’s payment assistance.
January 7 – Vicky gave the QCs through WhatsApp
January 8 – GLed the pair then Vicky shipped immediately that day.
January 10 – Received by Zendrian warehouse in China
January 17 – Zendrian told me that the package is now available for pickup.
 
Verdict
Seller: My first pair from her. Sobrang bilis niyang mag-reply sa mga inquiry ko. Straightforward lang naman transaction namin. Tinanong ko kung available, price and to be shipped domestically. After that, siya na nagtatanong ng info needed for those. Gaganda ng PK BASF niya imagine GL agad first QC. One more thing, nakadouble box nung sinend niya kay Zendrian. I would love to buy again from her in the future.
Payment Assistance: Mas mura rate ni Zendrian Global Trading kesa SWK. Anyway, mabagal mag-reply and if possible dapat lahat nagawa mo na kung makikipagtransaction ka sakanila like nahulog mo na sa BDO account yung bayad mo and nabigay mo na Alipay account ng seller mo. Since sila palang naman available na murang payment assistance, I would definitely use their payment assistance again in the future unless may bago silang contender.
Shipping Agent: As you can see, almost 7 days bago ko nakuha yung package ko. Medyo pricey with average shipping time and a bad CS. Yung iba 1.5kg yung 1 pair nila sakin 2kg (Yeezys and double boxed din), seems like inconsistent yung weight calculation nila. Paswertehan nalang siguro kung maka1.5 ka or 2kg per pair. Anyway, with this experience, I will not use them again as shipping agent.
 
Price Calculations:
Shoes – 520CNY
Payment Assistance – 7.3946 (BDO Forex) x 1.015 x 520 = 3,903 + 200 = 4,103 PHP
Shipping – 800 PHP / kg x 2 kg = 1,600 PHP + 244 PHP (Lalamove) = 1,844 PHP
Total = 5,947 PHP
 
BUDGET BATCH YEEZY BOOST 350 V2 TRUEFORM & STATIC REFLECTIVE
 
Seller: BMLIN (Yupoo)
Shopping Agent: Ytaopal
Payment Assistance: Zendrian Global Trading
Shipping Agent: Sunwukong/Metro Mercado/Sapo
 
January 6 – Order made in Ytaopal website
January 7 – Ytaopal paid the seller (BMLIN)
January 10 – Received by Ytaopal. Gave me their free QCs
January 13 – Shipped by Ytaopal to SWK’s warehouse in China
January 15 – Received by SWK in China
January 17 – SWK told me that the package is now available for pickup
 
Verdict
Shoes: Ganda ng shoes. It feels great on-foot. However, may mga imperfections lang siya like hindi magkapantay yung stripes and yung pagka-angle niya sa likod ng sapatos. Pero for the price, good quality na siya. You get what you pay for naman.
Ytaopal: Limited yung CS nila which is available only from 9:30AM to 6PM. Also, it’s not available ng lunchtime 12:00PM to 1:00PM. Napakadaling mag-order sa site nila dahil din siguro sa gumawa ng guide (thanks to you!). Anyway, ayoko lang medyo panget yung packing process nila dahil siguro libre lang. Nilagay lang nila yung bawat sapatos sa isang bubble sleeves (4 bubble sleeves in total) then with outer layer na plastic. (for reference) Their CS is not that bad and not that great, but they can do things naman. Like nagrequest ka for QCs this day, expect it na makukuha mo na the next day. Anyway, when it comes to purchasing sa Yupoo, I’ll use Ytaopal again dahil mababa lang fee nila (4%).
Shipping Agent: Halos same CS quality lang sila ni Zendrian but wow, grabe 2 days lang nasa Pinas na agad yung package ko. Yung package in good condition naman, walang sira or whatsoever. Anyway, I would use them again in my next haul dahil napakamura ng rate nila compared kay Zendrian kahit na medyo inconsistent yung shipping time.
 
Price Calculations:
Shoes – 180CNY (Static Reflective) & 160CNY (Trueform) = 340CNY
Domestic Shipping – 30CNY (BMLIN to Ytaopal) + 55CNY (Ytaopal to SWK) = 85CNY
Ytaopal’s Additional Fees – 340 + 85 = 425CNY x 1.04 = 442CNY
Payment Assistance – 7.3946 (BDO Forex) x 1.015 x 442CNY = 3,318 PHP + 133 = 3,451 PHP
Shipping – 580 PHP / kg x 1.5 kg = 870 PHP + 132 PHP (Lalamove) = 1,002 PHP
Total = 3,451 + 1,002 = 4,453 PHP
 
GUCCI ACE BEES EMBROIDERED SNEAKER
 
Seller: Jin (Yupoo)
Shopping Agent: Ytaopal
Payment Assistance: Zendrian Global Trading
Shipping Agent: DHL
 
January 6 – Order made in Ytaopal website
January 7 – Ytaopal paid Jin
January 13 – Received by Ytaopal. Gave me their free QCs
January 15 – Shipped by Ytaopal to DHL
PENDING –
 
Verdict
Shoes: -
Shipping Agent: No to DHL again.
 
Price Calculations
Shoes – 450CNY
Domestic Shipping – 10CNY (Jin to Ytaopal)
DHL Fees – 2.9kg (double box) = 300CNY
Ytaopal’s Additional Fees – 460 + 300 = 760CNY x 1.04 = 790.4CNY
Payment Assistance - 7.3946 (BDO Forex) x 1.015 x 790.4CNY = 5,933 PHP + 67 = 6,000 PHP
Total = 6,000 PHP
 
NOTES:
Vicky’s WhatsApp – +8615892088077
Zendrian Global Trading
BMLIN’s Yupoo
Jin’s Yupoo
Sunwukongph
Ytaopal Guide
submitted by bandosarmadyl to u/bandosarmadyl [link] [comments]

【A Recap of Our Journey】The Inaugural Anniversary of MaxiMine’s Listing!

【A Recap of Our Journey】The Inaugural Anniversary of MaxiMine’s Listing!

https://preview.redd.it/uoc84ml8e2731.png?width=640&format=png&auto=webp&s=288fa1cd1e79c0389fda7cd93c4946ee78430fa6

June 28 is destined to be an extraordinary date.

It was on this very date in 1712 that famous philosopher Jean Jacob Rousseau was born, and from him came the idea of natural human rights that soon took root in the masses and inspired many other revolutions worldwide.

It was on this very date in 1838 that Alexandra Victoria was crowned the Queen of England. Under her rule, the United Kingdom expanded its reaches and flourished as an empire, saving its reputation from the mess her royal uncles had made.

It was on this very date in 2008 that China completed work on the Beijing National Stadium, the stadium that would host the 2008 Summer Olympics from 8 to 24 August 2008.

10 years later in 2018, the date once again took on an auspicious turn as the MXM token was finally listed on its first international cryptocurrency exchange, HitBTC, after a long time of preparation and wait.

Today, one year later on 28 June 2019, MaxiMine is proud to celebrate its inaugural anniversary of listing. Let our new cartoon ambassador, Little M, take you through a recap of our journey thus far…


https://preview.redd.it/eq07fsvae2731.png?width=720&format=png&auto=webp&s=86724cdcb2fe066ad30eff74c412954e19ea039e

MaxiMine is one of the world’s leading blockchain mining platforms that specialises in digital currency mining services. The current landscape of cryptocurrency mining presents insurmountable obstacles to a novice investor due to the high capital cost and huge power consumption required, the difficulty of obtaining a mining machine and its operational cost.

MaxiMine seeks to resolve this issue by renting out hashing power for mining, allowing any interested party to mine cryptocurrency without fretting over its operations. The maintenance and upgrading of mining equipment and its other relevant details will be handled by MaxiMine instead.

MXM is a token issued by MaxiMine that acts as a store of value in the MaxiMine pool ecosystem. Holding a MXM token is equivalent to a profit of revenue earned from a Bitcoin mining machine. Other than its innate value, the MXM token also presents several advantages as it can be used to not only replace computing power, but also participate in a series of community activities such as community building, renewal of mining equipment, and technical support.

On June 28, 2018, MaxiMine entered into a partnership with Europe-based cryptocurrency exchange HitBTC, launching MXM onto its first exchange platform. Since then, the momentum has been building up over the past year and MXM has been successively listed on four international mainstream exchanges: CoinBene, FCoin, BitForex and Hello Global. It has also formed a strategic partnership with Atomic Wallet from the United States and Mars Wallet from Hong Kong.

The issue price of MXM was at 0.05 CNY. After a stagnation period of 9 months, the value of MXM began to take off. On March 4, 2019, MXM broke through 0.1 yuan for the first time. Since then, the price of the currency has soared. On April 1, MXM reached an all-time high at 1.05 CNY and broke through the top 30 cryptocurrency coins ranked in CoinMarketCap. At present, the MXM currency price has stabilised at around 0.3 CNY and the number of MXM token addresses has reached 114,000 according to data from Etherscan.


Price: 0.101136 CNY, 24h Trading Volume: 1,968,790 USD

All-time high: 1.05 CNY (1 April 2019)

On February 14, 2019, MaxiMine’s MAX Mining Pool APP was officially launched. Users can perform hashing power conversion directly on their mobile phones. In addition, the app provides real-time updates of the values of hashing power, mining machine revenues and other relevant data that users are most concerned with, realizing its vision as an open and transparent platform.

In April, MaxiMine successfully organised “MaxiMine Global Blockchain Summit” in Bangkok, Thailand. During this occasion, MaxiMine released the MXM joint card to be used in the MXM ecosystem. The MXM card is supported by the majority of the mainstream e-commerce platforms and more than 50 million offline business providers. This signifies that MXM has broke through the virtual world and provided real-world applications for its token beyond cyber reality.

In the future, MXM will collaborate with more exchange platforms to unlock various real-life application scenarios.

To find out more about MaxiMine, do check out our social media accounts at:
Website: https://maximine.io/
Telegram: https://t.me/maximine
Reddit: https://www.reddit.com/maximine/
Twitter: https://twitter.com/maximinecoin
Medium: https://medium.com/@maximinecoin
Bitcointalk: https://bitcointalk.org/index.php?topic=3247389.0
submitted by maximineadmin to maximine [link] [comments]

Bitcoin 1.0 vs 2.0 – or – A Comparison of the Largest USD/BTC Exchange & UltraCoin: Features & Costs

I was looking at the offerings of Bitfinex just now, after hearing that Coinbase had the highest volume of any US-based broker just weeks after opening an exchange (we’ll discuss that at a different time, since Coinbase is waiving fees meaning those users are hot money, but likely are part of the largest installed user base). What I found was illuminating, at least for me since I don’t follow the offerings of BTC brokers and exchanges that closely. Bitfinix offers leverage, plain vanilla swaps and TRS (total return swaps - basically fixed/variable rates in major fiat denominations for cryptocurrency (BTC. LTC, DRK) exposure). I said to myself, “Wow, that’s pretty advanced.” Then I looked at the fees page, and saw the swaps were priced at 15%. The first thing that came to mind was the difference, and limitations that come with the business models of first generation bitcoin companies and second generation bitcoin companies.
To put this into perspective, Veritaseum's UltraCoin offers user programmable swaps (ie. you can make your own CDS, TRS or plain vanilla, or even a custom swap) with exposures to not just 3 cryptos and 3 or 4 fiat currencies, but all major and most exotic currency pairs (dozens) as well as over 45,000 tickers covering EVERY major asset class (stocks, bonds, forex & commodities as well as cryptos) from exchanges throughout the world****. This is all capable at a sliding scale of 10 to 25 basis points, round trip. That's the equivalent of 5 bp to 12.5 bp per trade - or 1/150th of what Bitfinex charges for a much simpler and more constrained product. In addition, all of this is done without UltraCoin havin any possession of your funds, whatsoever. Veritaseum (the company behind UltraCoin) is a software concern, not a financial entiity, thus you have no exposure to our balance sheet. We cannot MT. Gox you and you essentially have no counterparty, default or credit risk because your counterparty is the blockchain, and you trade peer to peer vs. through a centralized exchange. Pretty big difference, no?
I will continue my discussion on pricing and features right after I delineate the distinction between the two.

The Difference between Bitcoin 1.0 and Bitcoin 2.0 Companies

To begin with, I'd like to make clear that not only is the title misleading, but all references to the same are essentially inaccurate. Bitcoin itself is still in beta stage (0.9x) thus its not accurate to refer to 1st and 2nd generations of bitcoin businesses. If anything, we're all in beta. Now that I've gotten that off of my chest... The first bold generation of bitcoin entrepreneurs (it's amazing that you can refer to companies born 2 and 3 years ago as a previous generation, it just goes to show you how fast this space is moving!) built businesses based upon bitcoin as a legacy commodity. Basically, they bought, sold, transmitted or transferred it as a unit of value. They did this because that's how everything was done for the last several thousand years in the financial services industry. Basically, they had no choice - or so they thought. Then came those who read the Satoshi whitepaper and the bitcoin wiki and saw a very different meaning. My team and I are among those entrepreneurs. We saw that bitcoins were malleable, programmable, tools with which one can use to paint upon the canvas of value. A far cry from the moving of static financial widgets from place to place. Think of moving bitcoins around (bitcoin 1.0 companies) vs programming bitcoins to act on their own according to their contractual owner's wishes (bitcoin 2.0 companies) akin to pushing a model T Ford around town vs. programming your driverless electric Tesla to go by the grocery store to pick up some fresh produce before swinging by the school to pick up your kids on the way home to meet you to take your wife (girlfriend?) out to dinner.

A Real World Comparison of Bitcoin Companies: Bitfinex (v1.0) vs Veritaseum (v2.0)

Tickers Available

Bitfinex: ~6 or 7 (this is an approximation) - BTC, LTC, DRK, USD & (I'm assuming EUR, CNY and maybe GBP). It is quite possible that I'm underestimating their portfolio here.
Veritaseum's UltraCoin: ~45,000+
Asset Classes Available
Bitfinex: Crypto and forex
Veritaseum's UltraCoin: Stocks, Bonds, Commodities, Forex, Cryptos and many indices
Costs Bitfinex: up to 40bp round trip, 1,500bp for swaps
Veritaseum's UltraCoin: up to 25 bp round trip for all products (primarily smart contract swap driven)
Leverage available: Bitfinex: Assumed to be up to 50x, traditional margin lending
Veritaseum's UltraCoin: up to 10,000x, with finite digital P/L parameters (no margin calls, no negative account drawdowns)
How does Veritaseum do it? We program the bitcoin to act according to a mutual agreement between two or more parties, then send it to the blockchain to act accordingly. These agreements are self executing, unbreakable promises known as "Smart Contracts". In this case, they are highly customizable, P2P OTC swaps, but we are working on a multitude of other products, services and solutions as well. We also supply very high level, unconflicted, independent and impartial strategy and research for our customers. Since we don't use our balance sheet and we don't act as a principal, we have no incentive to skewer the research in any particular direction.

Smart Contracts as Transaction Vehicles: The Safest Possible Way To Exchange Value

Veritaseum's UltraCoin BTC-based smart contracts are: 1. highly flexible - you design your own derivatives yourself using your own parameters via our simple graphical user interface 2. self-executing 3. autonomous 4. unbreachable: we call them, the unbreakable promise! They are backed, fortified and stored by/on the Bitcoin blockchain itself 5. uber-transparent: simple click the "trace transaction" button to find the location and historical travel path of your assets anytime, from anywhere you have an internet connection

Trading Through a Balance Sheet-Based Financial Institution vs. Distributed, Decentralized, P2P Software Concern

It's a matter of risk. This is not a dig at Bitfinex. After looking at their volume (significant) and their offerings (quite impressive given the newness of this industry) the last thing I would ever want to do is to disparage them. As a matter of fact, I give them kudos! Good job, fellas! What I do want to accomplish is the education through the fact that the Bitcoin protocol has given rise to the genesis of a new type of company, with a new business model that can offer a totally new type of product. As you were able to see from above, Veritaseum's UltraCoin offers a very uniquer product with many if not all of the attributes that potential competitors offer, with a slew of attributes that others can't touch. This is done at 1/150th of the price and at much less risk! When dealing with Veritaseum's UltraCoin, you can never get Gox'd because we never have (nor do we want) possession of your coins or fiat - every, at any time. Because we don't user our balance sheet (we are a software company, not a centralized exchange or brokedealer) you:
This is just the beginning of what is capable with bitcoin (and this is pure bitcoin, not altcoins, no tokens, no sidechains, just pure, old fashioned [at least as old as it can be considered] bitcoin) and 2.0 business models. Wait until you see the new stuff we'll be rolling out.
We are in beta, so please be aware of that and the shortcomings that it entails (although it is also my opinion that most bitcoin companies are in beta because bitcoin itself is in beta, as implied above). I implore you to download, and trade with, our:
There's also a lot of BTC industry research available for download as well as our blog which has some of the best fundamental and macro research available on the web. Hardcore traders, investors and speculators should check out my latest piece: It's All Out War, Pt 3: Is the Danish Krone Peg to Euro More Fragile Than Glass Beads? The Danish National Bank Infers So!
Any bitcoin-rich individuals or entities looking to provide liquidity to the system, individuals/compamies who wish to partner, accredited investors looking for a piece of the action (you have to be willing to sign and NDA, we are quite open to working with anybody), or those who simply want to shoot the breeze should feel free to contact us.
Bitcoin 2.0 An example of an UltraCoin smart contract summary
Here's some info about me, my team and what we're doing at Veritaseum:
submitted by Reggie-Middleton to BitcoinMarkets [link] [comments]

Lessons in Global Macro Trading Using Veritaseum’s UltraCoin BTC-Based Swaps: Speculation Capabilities That Surpass Even The Largest Hedge Funds & Investment Banks Pt. 1

We will be posting a series of tutorials on how to trade over 45,000 tickers, with leverage of up to 10,000x using only our smart contracts-enabled bitcoin wallet and peer to peer swaps. We will be covering how you can use thorough fundamental and macro-economic research to setup various trades in the system and model said trades using our Ultracoin modeling tool. A little about the UltraCoin wallet: It is a peer to peer system, it allows for its users to trade exposure to not only bitcoin, litecoin, Ripple and all of the major (and minor) forex pairs, but over 45,000 tickers of all of the major asset classes - stocks, bonds, indices, ETFs commodities and currencies. Since the trades are peer to peer, Veritaseum and the UltraCoin system doesn’t hold any of your assets, hence you are not exposed to our balance sheet, credit, default or counterparty risks (the blockchain is your effective counterparty). I believe we are the only trading or exchange system that can make such a claim. You can always track your bitcoin through the blockchain at any time. We also offer pricing leverage, of up to 10,000x! We are still in beta, though, and although we are confident the system is working, beta does mean beta. Caveat Emptor! Before we get started setting up trades, I would first like for you to: Read through the tutorial (which may not have all of the latest features described, but we will get to those in this article) - View the sample trade video - https://www.youtube.com/watch?v=dV27kQnUKHc Download the trade modeling spreadsheet -http://ultra-coin.com/index.php/download-now/summary/1-ultracoin-downloads/274-veritaseum-s-ultracoin-trade-modelling-spreadsheet A quick example of a simple trade setup: Currency SWAP A portfolio manager is having exposure to different currencies like USD, EUR, GBP, YEN and CNY. The portfolio manager wants to hedge currency fluctuation. Base currency of portfolio is EUR SWAP CONTRACT DETAILS RECEIVE: EUR=X PAY:USD=X
Now, to up the ante in terms of risk vs reward, you can add leverage to the pie. This is accomplished by going into the advanced tab and raising the leverage amount from "0". The higher the leverage, the more volatility in the returns, and the higher the probability you will exhaust your principal+collateral. For that reason, you should cushion against having your contract unwound (our version of getting "stopped out") by adding to your collateral amount, which is evident in the same "Advanced" dialog as the leverage controls. You also have the option of adjusting granular start, stop and cancel times for the contract. By modeling this trade with our trade design spreadsheet you can visually and numerically see the effects of adjusting leverage in each direction as well as increasing and decreasing collateral, principal and the length of the contract. There's a lot of information in the 2nd and 3rd tabs of the sheet. Please take advantage of it.
Hedge the future cash flows or the asset prices by creating currency SWAP contracts for foreign currencies against home currency. Read this link for in depth breakdown off a multifaceted trade, and more importanly the fundamental and macro research that went into the trade setup: http://www.ultra-coin.com/index.php/homes/item/89-is-the-danish-krona-peg-to-euro-more-fragile-than-glass-beads-the-danish-national-bank-infers-so
submitted by Reggie-Middleton to BitcoinMarkets [link] [comments]

Lessons in Global Macro Trading Using Veritaseum’s UltraCoin BTC-Based Swaps: Speculation Capabilities That Surpass Even The Largest Hedge Funds & Investment Banks Pt. 1

We will be posting a series of tutorials on how to trade over 45,000 tickers, with leverage of up to 10,000x using only our smart contracts-enabled bitcoin wallet and peer to peer swaps. We will be covering how you can use thorough fundamental and macro-economic research to setup various trades in the system and model said trades using our Ultracoin modeling tool. A little about the UltraCoin wallet: It is a peer to peer system, it allows for its users to trade exposure to not only bitcoin, litecoin, Ripple and all of the major (and minor) forex pairs, but over 45,000 tickers of all of the major asset classes - stocks, bonds, indices, ETFs commodities and currencies. Since the trades are peer to peer, Veritaseum and the UltraCoin system doesn’t hold any of your assets, hence you are not exposed to our balance sheet, credit, default or counterparty risks (the blockchain is your effective counterparty). I believe we are the only trading or exchange system that can make such a claim. You can always track your bitcoin through the blockchain at any time. We also offer pricing leverage, of up to 10,000x! We are still in beta, though, and although we are confident the system is working, beta does mean beta. Caveat Emptor! Before we get started setting up trades, I would first like for you to: Read through the tutorial (which may not have all of the latest features described, but we will get to those in this article) - View the sample trade video - https://www.youtube.com/watch?v=dV27kQnUKHc Download the trade modeling spreadsheet -http://ultra-coin.com/index.php/download-now/summary/1-ultracoin-downloads/274-veritaseum-s-ultracoin-trade-modelling-spreadsheet A quick example of a simple trade setup: Currency SWAP A portfolio manager is having exposure to different currencies like USD, EUR, GBP, YEN and CNY. The portfolio manager wants to hedge currency fluctuation. Base currency of portfolio is EUR SWAP CONTRACT DETAILS RECEIVE: EUR=X PAY:USD=X
Now, to up the ante in terms of risk vs reward, you can add leverage to the pie. This is accomplished by going into the advanced tab and raising the leverage amount from "0". The higher the leverage, the more volatility in the returns, and the higher the probability you will exhaust your principal+collateral. For that reason, you should cushion against having your contract unwound (our version of getting "stopped out") by adding to your collateral amount, which is evident in the same "Advanced" dialog as the leverage controls. You also have the option of adjusting granular start, stop and cancel times for the contract. By modeling this trade with our trade design spreadsheet you can visually and numerically see the effects of adjusting leverage in each direction as well as increasing and decreasing collateral, principal and the length of the contract. There's a lot of information in the 2nd and 3rd tabs of the sheet. Please take advantage of it.
Hedge the future cash flows or the asset prices by creating currency SWAP contracts for foreign currencies against home currency. Read this link for in depth breakdown off a multifaceted trade, and more importanly the fundamental and macro research that went into the trade setup: http://www.ultra-coin.com/index.php/homes/item/89-is-the-danish-krona-peg-to-euro-more-fragile-than-glass-beads-the-danish-national-bank-infers-so
submitted by Reggie-Middleton to Bitcoin [link] [comments]

Bitcoin 1.0 vs 2.0 – or – A Comparison of the Largest USD/BTC Exchange & UltraCoin: Features & Costs

I was looking at the offerings of Bitfinex just now, after hearing that Coinbase had the highest volume of any US-based broker just weeks after opening an exchange (we’ll discuss that at a different time, since Coinbase is waiving fees meaning those users are hot money, but likely are part of the largest installed user base). What I found was illuminating, at least for me since I don’t follow the offerings of BTC brokers and exchanges that closely. Bitfinix offers leverage, plain vanilla swaps and TRS (total return swaps - basically fixed/variable rates in major fiat denominations for cryptocurrency (BTC. LTC, DRK) exposure). I said to myself, “Wow, that’s pretty advanced.” Then I looked at the fees page, and saw the swaps were priced at 15%. The first thing that came to mind was the difference, and limitations that come with the business models of first generation bitcoin companies and second generation bitcoin companies.
To put this into perspective, Veritaseum's UltraCoin offers user programmable swaps (ie. you can make your own CDS, TRS or plain vanilla, or even a custom swap) with exposures to not just 3 cryptos and 3 or 4 fiat currencies, but all major and most exotic currency pairs (dozens) as well as over 45,000 tickers covering EVERY major asset class (stocks, bonds, forex & commodities as well as cryptos) from exchanges throughout the world****. This is all capable at a sliding scale of 10 to 25 basis points, round trip. That's the equivalent of 5 bp to 12.5 bp per trade - or 1/150th of what Bitfinex charges for a much simpler and more constrained product. In addition, all of this is done without UltraCoin havin any possession of your funds, whatsoever. Veritaseum (the company behind UltraCoin) is a software concern, not a financial entiity, thus you have no exposure to our balance sheet. We cannot MT. Gox you and you essentially have no counterparty, default or credit risk because your counterparty is the blockchain, and you trade peer to peer vs. through a centralized exchange. Pretty big difference, no?
I will continue my discussion on pricing and features right after I delineate the distinction between the two.

The Difference between Bitcoin 1.0 and Bitcoin 2.0 Companies

To begin with, I'd like to make clear that not only is the title misleading, but all references to the same are essentially inaccurate. Bitcoin itself is still in beta stage (0.9x) thus its not accurate to refer to 1st and 2nd generations of bitcoin businesses. If anything, we're all in beta. Now that I've gotten that off of my chest... The first bold generation of bitcoin entrepreneurs (it's amazing that you can refer to companies born 2 and 3 years ago as a previous generation, it just goes to show you how fast this space is moving!) built businesses based upon bitcoin as a legacy commodity. Basically, they bought, sold, transmitted or transferred it as a unit of value. They did this because that's how everything was done for the last several thousand years in the financial services industry. Basically, they had no choice - or so they thought. Then came those who read the Satoshi whitepaper and the bitcoin wiki and saw a very different meaning. My team and I are among those entrepreneurs. We saw that bitcoins were malleable, programmable, tools with which one can use to paint upon the canvas of value. A far cry from the moving of static financial widgets from place to place. Think of moving bitcoins around (bitcoin 1.0 companies) vs programming bitcoins to act on their own according to their contractual owner's wishes (bitcoin 2.0 companies) akin to pushing a model T Ford around town vs. programming your driverless electric Tesla to go by the grocery store to pick up some fresh produce before swinging by the school to pick up your kids on the way home to meet you to take your wife (girlfriend?) out to dinner.

A Real World Comparison of Bitcoin Companies: Bitfinex (v1.0) vs Veritaseum (v2.0)

Tickers Available

Bitfinex: ~6 or 7 (this is an approximation) - BTC, LTC, DRK, USD & (I'm assuming EUR, CNY and maybe GBP). It is quite possible that I'm underestimating their portfolio here.
Veritaseum's UltraCoin: ~45,000+
Asset Classes Available
Bitfinex: Crypto and forex
Veritaseum's UltraCoin: Stocks, Bonds, Commodities, Forex, Cryptos and many indices
Costs Bitfinex: up to 40bp round trip, 1,500bp for swaps
Veritaseum's UltraCoin: up to 25 bp round trip for all products (primarily smart contract swap driven)
Leverage available: Bitfinex: Assumed to be up to 50x, traditional margin lending
Veritaseum's UltraCoin: up to 10,000x, with finite digital P/L parameters (no margin calls, no negative account drawdowns)
How does Veritaseum do it? We program the bitcoin to act according to a mutual agreement between two or more parties, then send it to the blockchain to act accordingly. These agreements are self executing, unbreakable promises known as "Smart Contracts". In this case, they are highly customizable, P2P OTC swaps, but we are working on a multitude of other products, services and solutions as well. We also supply very high level, unconflicted, independent and impartial strategy and research for our customers. Since we don't use our balance sheet and we don't act as a principal, we have no incentive to skewer the research in any particular direction.

Smart Contracts as Transaction Vehicles: The Safest Possible Way To Exchange Value

Veritaseum's UltraCoin BTC-based smart contracts are: 1. highly flexible - you design your own derivatives yourself using your own parameters via our simple graphical user interface 2. self-executing 3. autonomous 4. unbreachable: we call them, the unbreakable promise! They are backed, fortified and stored by/on the Bitcoin blockchain itself 5. uber-transparent: simple click the "trace transaction" button to find the location and historical travel path of your assets anytime, from anywhere you have an internet connection

Trading Through a Balance Sheet-Based Financial Institution vs. Distributed, Decentralized, P2P Software Concern

It's a matter of risk. This is not a dig at Bitfinex. After looking at their volume (significant) and their offerings (quite impressive given the newness of this industry) the last thing I would ever want to do is to disparage them. As a matter of fact, I give them kudos! Good job, fellas! What I do want to accomplish is the education through the fact that the Bitcoin protocol has given rise to the genesis of a new type of company, with a new business model that can offer a totally new type of product. As you were able to see from above, Veritaseum's UltraCoin offers a very uniquer product with many if not all of the attributes that potential competitors offer, with a slew of attributes that others can't touch. This is done at 1/150th of the price and at much less risk! When dealing with Veritaseum's UltraCoin, you can never get Gox'd because we never have (nor do we want) possession of your coins or fiat - every, at any time. Because we don't user our balance sheet (we are a software company, not a centralized exchange or brokedealer) you:
This is just the beginning of what is capable with bitcoin (and this is pure bitcoin, not altcoins, no tokens, no sidechains, just pure, old fashioned [at least as old as it can be considered] bitcoin) and 2.0 business models. Wait until you see the new stuff we'll be rolling out.
We are in beta, so please be aware of that and the shortcomings that it entails (although it is also my opinion that most bitcoin companies are in beta because bitcoin itself is in beta, as implied above). I implore you to download, and trade with, our:
There's also a lot of BTC industry research available for download as well as our blog which has some of the best fundamental and macro research available on the web. Hardcore traders, investors and speculators should check out my latest piece: It's All Out War, Pt 3: Is the Danish Krone Peg to Euro More Fragile Than Glass Beads? The Danish National Bank Infers So!
Any bitcoin-rich individuals or entities looking to provide liquidity to the system, individuals/compamies who wish to partner, accredited investors looking for a piece of the action (you have to be willing to sign and NDA, we are quite open to working with anybody), or those who simply want to shoot the breeze should feel free to contact us.
Bitcoin 2.0 An example of an UltraCoin smart contract summary
Here's some info about me, my team and what we're doing at Veritaseum:
submitted by Reggie-Middleton to Bitcoin [link] [comments]

Global Macro Trading Using Veritaseum’s UltraCoin BTC-Based Swaps: Speculation Capabilities That Surpass Even The Largest Hedge Funds & Investment Banks

We will be posting a series of tutorials on how to trade over 45,000 tickers, with leverage of up to 10,000x using only our smart contracts-enabled bitcoin wallet and peer to peer swaps. We will be covering how you can use thorough fundamental and macro-economic research to setup various trades in the system and model said trades using our Ultracoin modeling tool. A little about the UltraCoin wallet: It is a peer to peer system, it allows for its users to trade exposure to not only bitcoin, litecoin, Ripple and all of the major (and minor) forex pairs, but over 45,000 tickers of all of the major asset classes - stocks, bonds, indices, ETFs commodities and currencies. Since the trades are peer to peer, Veritaseum and the UltraCoin system doesn’t hold any of your assets, hence you are not exposed to our balance sheet, credit, default or counterparty risks (the blockchain is your effective counterparty). I believe we are the only trading or exchange system that can make such a claim. You can always track your bitcoin through the blockchain at any time. We also offer pricing leverage, of up to 10,000x! We are still in beta, though, and although we are confident the system is working, beta does mean beta. Caveat Emptor! Before we get started setting up trades, I would first like for you to: Read through the tutorial (which may not have all of the latest features described, but we will get to those in this article) - View the sample trade video - https://www.youtube.com/watch?v=dV27kQnUKHc Download the trade modeling spreadsheet -http://ultra-coin.com/index.php/download-now/summary/1-ultracoin-downloads/274-veritaseum-s-ultracoin-trade-modelling-spreadsheet A quick example of a simple trade setup: Currency SWAP A portfolio manager is having exposure to different currencies like USD, EUR, GBP, YEN and CNY. The portfolio manager wants to hedge currency fluctuation. Base currency of portfolio is EUR SWAP CONTRACT DETAILS RECEIVE: EUR=X PAY:USD=X Hedge the future cash flows or the asset prices by creating currency SWAP contracts for foreign currencies against home currency. Read this link for in depth breakdown off a multifaceted trade, and more importanly the fundamental and macro research that went into the trade setup: http://www.ultra-coin.com/index.php/homes/item/89-is-the-danish-krona-peg-to-euro-more-fragile-than-glass-beads-the-danish-national-bank-infers-so There has currently been good news surrounding widespread adoption of Bitcoin and the somewhat relaxation in volatility. Speaking of volatility, we’ve helped remedy that concern with leveraging (so if you have 3x leverage you get three times the profit if the trade moves in your favor!) but before committing any of your capital to a trade below is a link to an Excel spreadsheet that can be used to model any trade in detail.
And once you’ve gotten your feet wet try the demo mode and throw a couple of trades around. Part 2 will be coming soon
submitted by elijah5692 to bitcointrading [link] [comments]

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