Forex (FX) Definition and Uses

Everything You Always Wanted To Know About Swaps* (*But Were Afraid To Ask)

Hello, dummies
It's your old pal, Fuzzy.
As I'm sure you've all noticed, a lot of the stuff that gets posted here is - to put it delicately - fucking ridiculous. More backwards-ass shit gets posted to wallstreetbets than you'd see on a Westboro Baptist community message board. I mean, I had a look at the daily thread yesterday and..... yeesh. I know, I know. We all make like the divine Laura Dern circa 1992 on the daily and stick our hands deep into this steaming heap of shit to find the nuggets of valuable and/or hilarious information within (thanks for reading, BTW). I agree. I love it just the way it is too. That's what makes WSB great.
What I'm getting at is that a lot of the stuff that gets posted here - notwithstanding it being funny or interesting - is just... wrong. Like, fucking your cousin wrong. And to be clear, I mean the fucking your *first* cousin kinda wrong, before my Southerners in the back get all het up (simmer down, Billy Ray - I know Mabel's twice removed on your grand-sister's side). Truly, I try to let it slide. I do my bit to try and put you on the right path. Most of the time, I sleep easy no matter how badly I've seen someone explain what a bank liquidity crisis is. But out of all of those tens of thousands of misguided, autistic attempts at understanding the world of high finance, one thing gets so consistently - so *emphatically* - fucked up and misunderstood by you retards that last night I felt obligated at the end of a long work day to pull together this edition of Finance with Fuzzy just for you. It's so serious I'm not even going to make a u/pokimane gag. Have you guessed what it is yet? Here's a clue. It's in the title of the post.
That's right, friends. Today in the neighborhood we're going to talk all about hedging in financial markets - spots, swaps, collars, forwards, CDS, synthetic CDOs, all that fun shit. Don't worry; I'm going to explain what all the scary words mean and how they impact your OTM RH positions along the way.
We're going to break it down like this. (1) "What's a hedge, Fuzzy?" (2) Common Hedging Strategies and (3) All About ISDAs and Credit Default Swaps.
Before we begin. For the nerds and JV traders in the back (and anyone else who needs to hear this up front) - I am simplifying these descriptions for the purposes of this post. I am also obviously not going to try and cover every exotic form of hedge under the sun or give a detailed summation of what caused the financial crisis. If you are interested in something specific ask a question, but don't try and impress me with your Investopedia skills or technical points I didn't cover; I will just be forced to flex my years of IRL experience on you in the comments and you'll look like a big dummy.
TL;DR? Fuck you. There is no TL;DR. You've come this far already. What's a few more paragraphs? Put down the Cheetos and try to concentrate for the next 5-7 minutes. You'll learn something, and I promise I'll be gentle.
Ready? Let's get started.
1. The Tao of Risk: Hedging as a Way of Life
The simplest way to characterize what a hedge 'is' is to imagine every action having a binary outcome. One is bad, one is good. Red lines, green lines; uppie, downie. With me so far? Good. A 'hedge' is simply the employment of a strategy to mitigate the effect of your action having the wrong binary outcome. You wanted X, but you got Z! Frowny face. A hedge strategy introduces a third outcome. If you hedged against the possibility of Z happening, then you can wind up with Y instead. Not as good as X, but not as bad as Z. The technical definition I like to give my idiot juniors is as follows:
Utilization of a defensive strategy to mitigate risk, at a fraction of the cost to capital of the risk itself.
Congratulations. You just finished Hedging 101. "But Fuzzy, that's easy! I just sold a naked call against my 95% OTM put! I'm adequately hedged!". Spoiler alert: you're not (although good work on executing a collar, which I describe below). What I'm talking about here is what would be referred to as a 'perfect hedge'; a binary outcome where downside is totally mitigated by a risk management strategy. That's not how it works IRL. Pay attention; this is the tricky part.
You can't take a single position and conclude that you're adequately hedged because risks are fluid, not static. So you need to constantly adjust your position in order to maximize the value of the hedge and insure your position. You also need to consider exposure to more than one category of risk. There are micro (specific exposure) risks, and macro (trend exposure) risks, and both need to factor into the hedge calculus.
That's why, in the real world, the value of hedging depends entirely on the design of the hedging strategy itself. Here, when we say "value" of the hedge, we're not talking about cash money - we're talking about the intrinsic value of the hedge relative to the the risk profile of your underlying exposure. To achieve this, people hedge dynamically. In wallstreetbets terms, this means that as the value of your position changes, you need to change your hedges too. The idea is to efficiently and continuously distribute and rebalance risk across different states and periods, taking value from states in which the marginal cost of the hedge is low and putting it back into states where marginal cost of the hedge is high, until the shadow value of your underlying exposure is equalized across your positions. The punchline, I guess, is that one static position is a hedge in the same way that the finger paintings you make for your wife's boyfriend are art - it's technically correct, but you're only playing yourself by believing it.
Anyway. Obviously doing this as a small potatoes trader is hard but it's worth taking into account. Enough basic shit. So how does this work in markets?
2. A Hedging Taxonomy
The best place to start here is a practical question. What does a business need to hedge against? Think about the specific risk that an individual business faces. These are legion, so I'm just going to list a few of the key ones that apply to most corporates. (1) You have commodity risk for the shit you buy or the shit you use. (2) You have currency risk for the money you borrow. (3) You have rate risk on the debt you carry. (4) You have offtake risk for the shit you sell. Complicated, right? To help address the many and varied ways that shit can go wrong in a sophisticated market, smart operators like yours truly have devised a whole bundle of different instruments which can help you manage the risk. I might write about some of the more complicated ones in a later post if people are interested (CDO/CLOs, strip/stack hedges and bond swaps with option toggles come to mind) but let's stick to the basics for now.
(i) Swaps
A swap is one of the most common forms of hedge instrument, and they're used by pretty much everyone that can afford them. The language is complicated but the concept isn't, so pay attention and you'll be fine. This is the most important part of this section so it'll be the longest one.
Swaps are derivative contracts with two counterparties (before you ask, you can't trade 'em on an exchange - they're OTC instruments only). They're used to exchange one cash flow for another cash flow of equal expected value; doing this allows you to take speculative positions on certain financial prices or to alter the cash flows of existing assets or liabilities within a business. "Wait, Fuzz; slow down! What do you mean sets of cash flows?". Fear not, little autist. Ol' Fuzz has you covered.
The cash flows I'm talking about are referred to in swap-land as 'legs'. One leg is fixed - a set payment that's the same every time it gets paid - and the other is variable - it fluctuates (typically indexed off the price of the underlying risk that you are speculating on / protecting against). You set it up at the start so that they're notionally equal and the two legs net off; so at open, the swap is a zero NPV instrument. Here's where the fun starts. If the price that you based the variable leg of the swap on changes, the value of the swap will shift; the party on the wrong side of the move ponies up via the variable payment. It's a zero sum game.
I'll give you an example using the most vanilla swap around; an interest rate trade. Here's how it works. You borrow money from a bank, and they charge you a rate of interest. You lock the rate up front, because you're smart like that. But then - quelle surprise! - the rate gets better after you borrow. Now you're bagholding to the tune of, I don't know, 5 bps. Doesn't sound like much but on a billion dollar loan that's a lot of money (a classic example of the kind of 'small, deep hole' that's terrible for profits). Now, if you had a swap contract on the rate before you entered the trade, you're set; if the rate goes down, you get a payment under the swap. If it goes up, whatever payment you're making to the bank is netted off by the fact that you're borrowing at a sub-market rate. Win-win! Or, at least, Lose Less / Lose Less. That's the name of the game in hedging.
There are many different kinds of swaps, some of which are pretty exotic; but they're all different variations on the same theme. If your business has exposure to something which fluctuates in price, you trade swaps to hedge against the fluctuation. The valuation of swaps is also super interesting but I guarantee you that 99% of you won't understand it so I'm not going to try and explain it here although I encourage you to google it if you're interested.
Because they're OTC, none of them are filed publicly. Someeeeeetimes you see an ISDA (dsicussed below) but the confirms themselves (the individual swaps) are not filed. You can usually read about the hedging strategy in a 10-K, though. For what it's worth, most modern credit agreements ban speculative hedging. Top tip: This is occasionally something worth checking in credit agreements when you invest in businesses that are debt issuers - being able to do this increases the risk profile significantly and is particularly important in times of economic volatility (ctrl+f "non-speculative" in the credit agreement to be sure).
(ii) Forwards
A forward is a contract made today for the future delivery of an asset at a pre-agreed price. That's it. "But Fuzzy! That sounds just like a futures contract!". I know. Confusing, right? Just like a futures trade, forwards are generally used in commodity or forex land to protect against price fluctuations. The differences between forwards and futures are small but significant. I'm not going to go into super boring detail because I don't think many of you are commodities traders but it is still an important thing to understand even if you're just an RH jockey, so stick with me.
Just like swaps, forwards are OTC contracts - they're not publicly traded. This is distinct from futures, which are traded on exchanges (see The Ballad Of Big Dick Vick for some more color on this). In a forward, no money changes hands until the maturity date of the contract when delivery and receipt are carried out; price and quantity are locked in from day 1. As you now know having read about BDV, futures are marked to market daily, and normally people close them out with synthetic settlement using an inverse position. They're also liquid, and that makes them easier to unwind or close out in case shit goes sideways.
People use forwards when they absolutely have to get rid of the thing they made (or take delivery of the thing they need). If you're a miner, or a farmer, you use this shit to make sure that at the end of the production cycle, you can get rid of the shit you made (and you won't get fucked by someone taking cash settlement over delivery). If you're a buyer, you use them to guarantee that you'll get whatever the shit is that you'll need at a price agreed in advance. Because they're OTC, you can also exactly tailor them to the requirements of your particular circumstances.
These contracts are incredibly byzantine (and there are even crazier synthetic forwards you can see in money markets for the true degenerate fund managers). In my experience, only Texan oilfield magnates, commodities traders, and the weirdo forex crowd fuck with them. I (i) do not own a 10 gallon hat or a novelty size belt buckle (ii) do not wake up in the middle of the night freaking out about the price of pork fat and (iii) love greenbacks too much to care about other countries' monopoly money, so I don't fuck with them.
(iii) Collars
No, not the kind your wife is encouraging you to wear try out to 'spice things up' in the bedroom during quarantine. Collars are actually the hedging strategy most applicable to WSB. Collars deal with options! Hooray!
To execute a basic collar (also called a wrapper by tea-drinking Brits and people from the Antipodes), you buy an out of the money put while simultaneously writing a covered call on the same equity. The put protects your position against price drops and writing the call produces income that offsets the put premium. Doing this limits your tendies (you can only profit up to the strike price of the call) but also writes down your risk. If you screen large volume trades with a VOL/OI of more than 3 or 4x (and they're not bullshit biotech stocks), you can sometimes see these being constructed in real time as hedge funds protect themselves on their shorts.
(3) All About ISDAs, CDS and Synthetic CDOs
You may have heard about the mythical ISDA. Much like an indenture (discussed in my post on $F), it's a magic legal machine that lets you build swaps via trade confirms with a willing counterparty. They are very complicated legal documents and you need to be a true expert to fuck with them. Fortunately, I am, so I do. They're made of two parts; a Master (which is a form agreement that's always the same) and a Schedule (which amends the Master to include your specific terms). They are also the engine behind just about every major credit crunch of the last 10+ years.
First - a brief explainer. An ISDA is a not in and of itself a hedge - it's an umbrella contract that governs the terms of your swaps, which you use to construct your hedge position. You can trade commodities, forex, rates, whatever, all under the same ISDA.
Let me explain. Remember when we talked about swaps? Right. So. You can trade swaps on just about anything. In the late 90s and early 2000s, people had the smart idea of using other people's debt and or credit ratings as the variable leg of swap documentation. These are called credit default swaps. I was actually starting out at a bank during this time and, I gotta tell you, the only thing I can compare people's enthusiasm for this shit to was that moment in your early teens when you discover jerking off. Except, unlike your bathroom bound shame sessions to Mom's Sears catalogue, every single person you know felt that way too; and they're all doing it at once. It was a fiscal circlejerk of epic proportions, and the financial crisis was the inevitable bukkake finish. WSB autism is absolutely no comparison for the enthusiasm people had during this time for lighting each other's money on fire.
Here's how it works. You pick a company. Any company. Maybe even your own! And then you write a swap. In the swap, you define "Credit Event" with respect to that company's debt as the variable leg . And you write in... whatever you want. A ratings downgrade, default under the docs, failure to meet a leverage ratio or FCCR for a certain testing period... whatever. Now, this started out as a hedge position, just like we discussed above. The purest of intentions, of course. But then people realized - if bad shit happens, you make money. And banks... don't like calling in loans or forcing bankruptcies. Can you smell what the moral hazard is cooking?
Enter synthetic CDOs. CDOs are basically pools of asset backed securities that invest in debt (loans or bonds). They've been around for a minute but they got famous in the 2000s because a shitload of them containing subprime mortgage debt went belly up in 2008. This got a lot of publicity because a lot of sad looking rednecks got foreclosed on and were interviewed on CNBC. "OH!", the people cried. "Look at those big bad bankers buying up subprime loans! They caused this!". Wrong answer, America. The debt wasn't the problem. What a lot of people don't realize is that the real meat of the problem was not in regular way CDOs investing in bundles of shit mortgage debts in synthetic CDOs investing in CDS predicated on that debt. They're synthetic because they don't have a stake in the actual underlying debt; just the instruments riding on the coattails. The reason these are so popular (and remain so) is that smart structured attorneys and bankers like your faithful correspondent realized that an even more profitable and efficient way of building high yield products with limited downside was investing in instruments that profit from failure of debt and in instruments that rely on that debt and then hedging that exposure with other CDS instruments in paired trades, and on and on up the chain. The problem with doing this was that everyone wound up exposed to everybody else's books as a result, and when one went tits up, everybody did. Hence, recession, Basel III, etc. Thanks, Obama.
Heavy investment in CDS can also have a warping effect on the price of debt (something else that happened during the pre-financial crisis years and is starting to happen again now). This happens in three different ways. (1) Investors who previously were long on the debt hedge their position by selling CDS protection on the underlying, putting downward pressure on the debt price. (2) Investors who previously shorted the debt switch to buying CDS protection because the relatively illiquid debt (partic. when its a bond) trades at a discount below par compared to the CDS. The resulting reduction in short selling puts upward pressure on the bond price. (3) The delta in price and actual value of the debt tempts some investors to become NBTs (neg basis traders) who long the debt and purchase CDS protection. If traders can't take leverage, nothing happens to the price of the debt. If basis traders can take leverage (which is nearly always the case because they're holding a hedged position), they can push up or depress the debt price, goosing swap premiums etc. Anyway. Enough technical details.
I could keep going. This is a fascinating topic that is very poorly understood and explained, mainly because the people that caused it all still work on the street and use the same tactics today (it's also terribly taught at business schools because none of the teachers were actually around to see how this played out live). But it relates to the topic of today's lesson, so I thought I'd include it here.
Work depending, I'll be back next week with a covenant breakdown. Most upvoted ticker gets the post.
*EDIT 1\* In a total blowout, $PLAY won. So it's D&B time next week. Post will drop Monday at market open.
submitted by fuzzyblankeet to wallstreetbets [link] [comments]

No, the British did not steal $45 trillion from India

This is an updated copy of the version on BadHistory. I plan to update it in accordance with the feedback I got.
I'd like to thank two people who will remain anonymous for helping me greatly with this post (you know who you are)
Three years ago a festschrift for Binay Bhushan Chaudhuri was published by Shubhra Chakrabarti, a history teacher at the University of Delhi and Utsa Patnaik, a Marxist economist who taught at JNU until 2010.
One of the essays in the festschirt by Utsa Patnaik was an attempt to quantify the "drain" undergone by India during British Rule. Her conclusion? Britain robbed India of $45 trillion (or £9.2 trillion) during their 200 or so years of rule. This figure was immensely popular, and got republished in several major news outlets (here, here, here, here (they get the number wrong) and more recently here), got a mention from the Minister of External Affairs & returns 29,100 results on Google. There's also plenty of references to it here on Reddit.
Patnaik is not the first to calculate such a figure. Angus Maddison thought it was £100 million, Simon Digby said £1 billion, Javier Estaban said £40 million see Roy (2019). The huge range of figures should set off some alarm bells.
So how did Patnaik calculate this (shockingly large) figure? Well, even though I don't have access to the festschrift, she conveniently has written an article detailing her methodology here. Let's have a look.
How exactly did the British manage to diddle us and drain our wealth’ ? was the question that Basudev Chatterjee (later editor of a volume in the Towards Freedom project) had posed to me 50 years ago when we were fellow-students abroad.
This is begging the question.
After decades of research I find that using India’s commodity export surplus as the measure and applying an interest rate of 5%, the total drain from 1765 to 1938, compounded up to 2016, comes to £9.2 trillion; since $4.86 exchanged for £1 those days, this sum equals about $45 trillion.
This is completely meaningless. To understand why it's meaningless consider India's annual coconut exports. These are almost certainly a surplus but the surplus in trade is countered by the other country buying the product (indeed, by definition, trade surpluses contribute to the GDP of a nation which hardly plays into intuitive conceptualisations of drain).
Furthermore, Dewey (2019) critiques the 5% interest rate.
She [Patnaik] consistently adopts statistical assumptions (such as compound interest at a rate of 5% per annum over centuries) that exaggerate the magnitude of the drain
Moving on:
The exact mechanism of drain, or transfers from India to Britain was quite simple.
Convenient.
Drain theory possessed the political merit of being easily grasped by a nation of peasants. [...] No other idea could arouse people than the thought that they were being taxed so that others in far off lands might live in comfort. [...] It was, therefore, inevitable that the drain theory became the main staple of nationalist political agitation during the Gandhian era.
- Chandra et al. (1989)
The key factor was Britain’s control over our taxation revenues combined with control over India’s financial gold and forex earnings from its booming commodity export surplus with the world. Simply put, Britain used locally raised rupee tax revenues to pay for its net import of goods, a highly abnormal use of budgetary funds not seen in any sovereign country.
The issue with figures like these is they all make certain methodological assumptions that are impossible to prove. From Roy in Frankema et al. (2019):
the "drain theory" of Indian poverty cannot be tested with evidence, for several reasons. First, it rests on the counterfactual that any money saved on account of factor payments abroad would translate into domestic investment, which can never be proved. Second, it rests on "the primitive notion that all payments to foreigners are "drain"", that is, on the assumption that these payments did not contribute to domestic national income to the equivalent extent (Kumar 1985, 384; see also Chaudhuri 1968). Again, this cannot be tested. [...] Fourth, while British officers serving India did receive salaries that were many times that of the average income in India, a paper using cross-country data shows that colonies with better paid officers were governed better (Jones 2013).
Indeed, drain theory rests on some very weak foundations. This, in of itself, should be enough to dismiss any of the other figures that get thrown out. Nonetheless, I felt it would be a useful exercise to continue exploring Patnaik's take on drain theory.
The East India Company from 1765 onwards allocated every year up to one-third of Indian budgetary revenues net of collection costs, to buy a large volume of goods for direct import into Britain, far in excess of that country’s own needs.
So what's going on here? Well Roy (2019) explains it better:
Colonial India ran an export surplus, which, together with foreign investment, was used to pay for services purchased from Britain. These payments included interest on public debt, salaries, and pensions paid to government offcers who had come from Britain, salaries of managers and engineers, guaranteed profts paid to railway companies, and repatriated business profts. How do we know that any of these payments involved paying too much? The answer is we do not.
So what was really happening is the government was paying its workers for services (as well as guaranteeing profits - to promote investment - something the GoI does today Dalal (2019), and promoting business in India), and those workers were remitting some of that money to Britain. This is hardly a drain (unless, of course, Indian diaspora around the world today are "draining" it). In some cases, the remittances would take the form of goods (as described) see Chaudhuri (1983):
It is obvious that these debit items were financed through the export surplus on merchandise account, and later, when railway construction started on a large scale in India, through capital import. Until 1833 the East India Company followed a cumbersome method in remitting the annual home charges. This was to purchase export commodities in India out of revenue, which were then shipped to London and the proceeds from their sale handed over to the home treasury.
While Roy's earlier point argues better paid officers governed better, it is honestly impossible to say what part of the repatriated export surplus was a drain, and what was not. However calling all of it a drain is definitely misguided.
It's worth noting that Patnaik seems to make no attempt to quantify the benefits of the Raj either, Dewey (2019)'s 2nd criticism:
she [Patnaik] consistently ignores research that would tend to cut the economic impact of the drain down to size, such as the work on the sources of investment during the industrial revolution (which shows that industrialisation was financed by the ploughed-back profits of industrialists) or the costs of empire school (which stresses the high price of imperial defence)

Since tropical goods were highly prized in other cold temperate countries which could never produce them, in effect these free goods represented international purchasing power for Britain which kept a part for its own use and re-exported the balance to other countries in Europe and North America against import of food grains, iron and other goods in which it was deficient.
Re-exports necessarily adds value to goods when the goods are processed and when the goods are transported. The country with the largest navy at the time would presumably be in very good stead to do the latter.
The British historians Phyllis Deane and WA Cole presented an incorrect estimate of Britain’s 18th-19th century trade volume, by leaving out re-exports completely. I found that by 1800 Britain’s total trade was 62% higher than their estimate, on applying the correct definition of trade including re-exports, that is used by the United Nations and by all other international organisations.
While interesting, and certainly expected for such an old book, re-exporting necessarily adds value to goods.
When the Crown took over from the Company, from 1861 a clever system was developed under which all of India’s financial gold and forex earnings from its fast-rising commodity export surplus with the world, was intercepted and appropriated by Britain. As before up to a third of India’s rising budgetary revenues was not spent domestically but was set aside as ‘expenditure abroad’.
So, what does this mean? Britain appropriated all of India's earnings, and then spent a third of it aboard? Not exactly. She is describing home charges see Roy (2019) again:
Some of the expenditures on defense and administration were made in sterling and went out of the country. This payment by the government was known as the Home Charges. For example, interest payment on loans raised to finance construction of railways and irrigation works, pensions paid to retired officers, and purchase of stores, were payments in sterling. [...] almost all money that the government paid abroad corresponded to the purchase of a service from abroad. [...] The balance of payments system that emerged after 1800 was based on standard business principles. India bought something and paid for it. State revenues were used to pay for wages of people hired abroad, pay for interest on loans raised abroad, and repatriation of profits on foreign investments coming into India. These were legitimate market transactions.
Indeed, if paying for what you buy is drain, then several billions of us are drained every day.
The Secretary of State for India in Council, based in London, invited foreign importers to deposit with him the payment (in gold, sterling and their own currencies) for their net imports from India, and these gold and forex payments disappeared into the yawning maw of the SoS’s account in the Bank of England.
It should be noted that India having two heads was beneficial, and encouraged investment per Roy (2019):
The fact that the India Office in London managed a part of the monetary system made India creditworthy, stabilized its currency, and encouraged foreign savers to put money into railways and private enterprise in India. Current research on the history of public debt shows that stable and large colonies found it easier to borrow abroad than independent economies because the investors trusted the guarantee of the colonist powers.

Against India’s net foreign earnings he issued bills, termed Council bills (CBs), to an equivalent rupee value. The rate (between gold-linked sterling and silver rupee) at which the bills were issued, was carefully adjusted to the last farthing, so that foreigners would never find it more profitable to ship financial gold as payment directly to Indians, compared to using the CB route. Foreign importers then sent the CBs by post or by telegraph to the export houses in India, that via the exchange banks were paid out of the budgeted provision of sums under ‘expenditure abroad’, and the exporters in turn paid the producers (peasants and artisans) from whom they sourced the goods.
Sunderland (2013) argues CBs had two main roles (and neither were part of a grand plot to keep gold out of India):
Council bills had two roles. They firstly promoted trade by handing the IO some control of the rate of exchange and allowing the exchange banks to remit funds to India and to hedge currency transaction risks. They also enabled the Indian government to transfer cash to England for the payment of its UK commitments.

The United Nations (1962) historical data for 1900 to 1960, show that for three decades up to 1928 (and very likely earlier too) India posted the second highest merchandise export surplus in the world, with USA in the first position. Not only were Indians deprived of every bit of the enormous international purchasing power they had earned over 175 years, even its rupee equivalent was not issued to them since not even the colonial government was credited with any part of India’s net gold and forex earnings against which it could issue rupees. The sleight-of-hand employed, namely ‘paying’ producers out of their own taxes, made India’s export surplus unrequited and constituted a tax-financed drain to the metropolis, as had been correctly pointed out by those highly insightful classical writers, Dadabhai Naoroji and RCDutt.
It doesn't appear that others appreciate their insight Roy (2019):
K. N. Chaudhuri rightly calls such practice ‘confused’ economics ‘coloured by political feelings’.

Surplus budgets to effect such heavy tax-financed transfers had a severe employment–reducing and income-deflating effect: mass consumption was squeezed in order to release export goods. Per capita annual foodgrains absorption in British India declined from 210 kg. during the period 1904-09, to 157 kg. during 1937-41, and to only 137 kg by 1946.
Dewey (1978) points out reliability issues with Indian agriculutural statistics, however this calorie decline persists to this day. Some of it is attributed to less food being consumed at home Smith (2015), a lower infectious disease burden Duh & Spears (2016) and diversified diets Vankatesh et al. (2016).
If even a part of its enormous foreign earnings had been credited to it and not entirely siphoned off, India could have imported modern technology to build up an industrial structure as Japan was doing.
This is, unfortunately, impossible to prove. Had the British not arrived in India, there is no clear indication that India would've united (this is arguably more plausible than the given counterfactual1). Had the British not arrived in India, there is no clear indication India would not have been nuked in WW2, much like Japan. Had the British not arrived in India, there is no clear indication India would not have been invaded by lizard people, much like Japan. The list continues eternally.
Nevertheless, I will charitably examine the given counterfactual anyway. Did pre-colonial India have industrial potential? The answer is a resounding no.
From Gupta (1980):
This article starts from the premise that while economic categories - the extent of commodity production, wage labour, monetarisation of the economy, etc - should be the basis for any analysis of the production relations of pre-British India, it is the nature of class struggles arising out of particular class alignments that finally gives the decisive twist to social change. Arguing on this premise, and analysing the available evidence, this article concludes that there was little potential for industrial revolution before the British arrived in India because, whatever might have been the character of economic categories of that period, the class relations had not sufficiently matured to develop productive forces and the required class struggle for a 'revolution' to take place.
A view echoed in Raychaudhuri (1983):
Yet all of this did not amount to an economic situation comparable to that of western Europe on the eve of the industrial revolution. Her technology - in agriculture as well as manufacturers - had by and large been stagnant for centuries. [...] The weakness of the Indian economy in the mid-eighteenth century, as compared to pre-industrial Europe was not simply a matter of technology and commercial and industrial organization. No scientific or geographical revolution formed part of the eighteenth-century Indian's historical experience. [...] Spontaneous movement towards industrialisation is unlikely in such a situation.
So now we've established India did not have industrial potential, was India similar to Japan just before the Meiji era? The answer, yet again, unsurprisingly, is no. Japan's economic situation was not comparable to India's, which allowed for Japan to finance its revolution. From Yasuba (1986):
All in all, the Japanese standard of living may not have been much below the English standard of living before industrialization, and both of them may have been considerably higher than the Indian standard of living. We can no longer say that Japan started from a pathetically low economic level and achieved a rapid or even "miraculous" economic growth. Japan's per capita income was almost as high as in Western Europe before industrialization, and it was possible for Japan to produce surplus in the Meiji Period to finance private and public capital formation.
The circumstances that led to Meiji Japan were extremely unique. See Tomlinson (1985):
Most modern comparisons between India and Japan, written by either Indianists or Japanese specialists, stress instead that industrial growth in Meiji Japan was the product of unique features that were not reproducible elsewhere. [...] it is undoubtably true that Japan's progress to industrialization has been unique and unrepeatable
So there you have it. Unsubstantiated statistical assumptions, calling any number you can a drain & assuming a counterfactual for no good reason gets you this $45 trillion number. Hopefully that's enough to bury it in the ground.
1. Several authors have affirmed that Indian identity is a colonial artefact. For example see Rajan 1969:
Perhaps the single greatest and most enduring impact of British rule over India is that it created an Indian nation, in the modern political sense. After centuries of rule by different dynasties overparts of the Indian sub-continent, and after about 100 years of British rule, Indians ceased to be merely Bengalis, Maharashtrians,or Tamils, linguistically and culturally.
or see Bryant 2000:
But then, it would be anachronistic to condemn eighteenth-century Indians, who served the British, as collaborators, when the notion of 'democratic' nationalism or of an Indian 'nation' did not then exist. [...] Indians who fought for them, differed from the Europeans in having a primary attachment to a non-belligerent religion, family and local chief, which was stronger than any identity they might have with a more remote prince or 'nation'.

Bibliography

Chakrabarti, Shubra & Patnaik, Utsa (2018). Agrarian and other histories: Essays for Binay Bhushan Chaudhuri. Colombia University Press
Hickel, Jason (2018). How the British stole $45 trillion from India. The Guardian
Bhuyan, Aroonim & Sharma, Krishan (2019). The Great Loot: How the British stole $45 trillion from India. Indiapost
Monbiot, George (2020). English Landowners have stolen our rights. It is time to reclaim them. The Guardian
Tsjeng, Zing (2020). How Britain Stole $45 trillion from India with trains | Empires of Dirt. Vice
Chaudhury, Dipanjan (2019). British looted $45 trillion from India in today’s value: Jaishankar. The Economic Times
Roy, Tirthankar (2019). How British rule changed India's economy: The Paradox of the Raj. Palgrave Macmillan
Patnaik, Utsa (2018). How the British impoverished India. Hindustan Times
Tuovila, Alicia (2019). Expenditure method. Investopedia
Dewey, Clive (2019). Changing the guard: The dissolution of the nationalist–Marxist orthodoxy in the agrarian and agricultural history of India. The Indian Economic & Social History Review
Chandra, Bipan et al. (1989). India's Struggle for Independence, 1857-1947. Penguin Books
Frankema, Ewout & Booth, Anne (2019). Fiscal Capacity and the Colonial State in Asia and Africa, c. 1850-1960. Cambridge University Press
Dalal, Sucheta (2019). IL&FS Controversy: Centre is Paying Up on Sovereign Guarantees to ADB, KfW for Group's Loan. TheWire
Chaudhuri, K.N. (1983). X - Foreign Trade and Balance of Payments (1757–1947). Cambridge University Press
Sunderland, David (2013). Financing the Raj: The City of London and Colonial India, 1858-1940. Boydell Press
Dewey, Clive (1978). Patwari and Chaukidar: Subordinate officials and the reliability of India’s agricultural statistics. Athlone Press
Smith, Lisa (2015). The great Indian calorie debate: Explaining rising undernourishment during India’s rapid economic growth. Food Policy
Duh, Josephine & Spears, Dean (2016). Health and Hunger: Disease, Energy Needs, and the Indian Calorie Consumption Puzzle. The Economic Journal
Vankatesh, P. et al. (2016). Relationship between Food Production and Consumption Diversity in India – Empirical Evidences from Cross Section Analysis. Agricultural Economics Research Review
Gupta, Shaibal (1980). Potential of Industrial Revolution in Pre-British India. Economic and Political Weekly
Raychaudhuri, Tapan (1983). I - The mid-eighteenth-century background. Cambridge University Press
Yasuba, Yasukichi (1986). Standard of Living in Japan Before Industrialization: From what Level did Japan Begin? A Comment. The Journal of Economic History
Tomblinson, B.R. (1985). Writing History Sideways: Lessons for Indian Economic Historians from Meiji Japan. Cambridge University Press
Rajan, M.S. (1969). The Impact of British Rule in India. Journal of Contemporary History
Bryant, G.J. (2000). Indigenous Mercenaries in the Service of European Imperialists: The Case of the Sepoys in the Early British Indian Army, 1750-1800. War in History
submitted by GaslightEveryone to u/GaslightEveryone [link] [comments]

[Econ] Making the Best of a Very Bad Thing

November 2030
Well, uh, this sucks. Just a few short months after the Arab States of the Gulf finally unified, the world economy decided to explode. This is what we in the business of economics call a very bad thing.
The effects across the FAS have been relatively disparate. The United Arab Emirates, easily the most diversified economy in the region, has been the least heavily impacted (though it's still bad). Diversification programs in Oman and Bahrain have also helped to stave off some of the worst impacts of the crisis, though they haven't been as successful in avoiding the effects as the UAE. Qatar and Kuwait, still almost entirely reliant on hydrocarbon exports, are not happy with this turn of events. Falling global oil prices, though propped up a little by a sudden increase in demand from China, have left their economies struggling much more than the rest of the country, and in desperate need of assistance from the better off parts of the country.
One major pain point in this crisis has been the FAS's economic ties to the United States. While most of the FAS's trade is with Asia, Africa, and Europe, the US financial system still plays a crucial role in the FAS. The stability of the US Dollar has long been used to protect the economies of the Gulf using their vast Forex reserves (earned from oil sales) to peg their currency to the US Dollar. With the US Dollar in complete collapse, the value of the Khaleeji is plummeting right along with it, causing a significant degree of harm to the FAS's economy.
To help offset this harm (and to decouple the FAS's economy from a country that the FAS is starting to view as maybe not the most reliable economic partner), the Central Bank in Dubai has announced that the Khaleeji will switch its peg from the US Dollar to a basket of foreign currencies (the Euro, the Pound Sterling, the Swiss Franc, the US Dollar, and the Japanese Yen). The FAS hopes that this will help to salvage the Khaleeji's value, better protecting the economy from the collapse of the dollar-based international financial system. Rumor has it that the Central Bank is discussing the idea of unpegging the Khaleeji entirely and allowing it to float freely, but so far, the Central Bank has made no moves towards floating the Khaleeji.
Crises suck. They shatter the status quo and throw established norms and procedures into chaos. No one really wins during a crisis.
But in another sense, they're a double-edged sword. The status quo is often a repressive entity, reinforcing existing hierarchies and preventing dramatic shifts in the order of things. Chaos breaks that apart, giving the ingenuitive and the entrepreneurial on opportunity to better their lot in ways they otherwise could not.
Put differently: chaos is a ladder, and the FAS intends to be the one climbing it. As the largest economy in the Arab World (and one of the world's 20 largest economies) by both nominal GDP and GDP per capita (by a significant margin--it's probably either Saudi Arabia or Egypt in second place in nominal GDP, and definitely Saudi Arabia in second place in GDP per capita, but the FAS more than doubles the country in second place in both categories, so it's sort of a moot point), the FAS hopes to cement its place as the regional economic power.
The FAS has announced a new slate of policies intended to attract rich investors, manufacturing firms, and financiers fleeing the new nationalization program of the United States. New free trade zones have been created throughout the country--especially in the struggling, undiversified regions of Kuwait and Qatar--with the goal of convincing fleeing American manufacturers to set up shop in these areas. Attractions include wildly low tax rates (as low as zero percent in some instances), a common law framework (as opposed to the Sharia-based legal system in most of the FAS), highly subsidized land prices (sometimes free), relaxed financial restrictions (making it easier to move money in and out of the FTZ), and, for large enough firms moving enough operations into the country, preferential visa treatment (making it easier for them to relocate foreign employees into the country). Sitting at one of the major crossroads of global trade, moving operations to the FAS offers easy access to both the world's established consumer markets (like the EU and East Asia) as well as to some of its largest growing markets (South and Southeast Asia, East Africa, and MENA). Pair this with wildly high standards of living (for people who aren't slaves Asian or African migrant workers) and established expatriate communities, and the FAS becomes an incredibly attractive option for American and other foreign firms looking to relocate.
In addition to manufacturing-oriented FTZs, special attention has been paid to attracting service-oriented firms to new and existing FTZs in the vein of Dubai Internet City, Dubai Design District, Dubai Knowledge Park, and Dubai Media City, with the goal of developing a robust service economy that can capture growing markets in the MENA, South Asia, and East African regions. In advertising these zones, the governments of the FAS have highlighted the success of previous ventures in Dubai, which have attracted the regional headquarters of giants like Facebook, Intel, LinkedIn, Google, Dell, Samsung, Microsoft, IBM, Tata Consultancy, and more.
Perhaps one of the most substantial pushes, though, is to attract American financial services and FinTech firms to base in the FAS (particularly Dubai, Kuwait City, Doha, and Abu Dhabi, the traditional centers of regional finance). New financial industry free trade zones have been set up in the four cities, structured in the vein of the Dubai International Financial Centre (DIFC). These financial FTZs boast an independent and internationally regulated regulatory and judicial system, a common law framework, and extremely low taxation rates. All government services in these regions are available in English (the lingua franca of international finance), and in events where ambiguity exists in the legal and regulatory systems, the systems are set to default to English Common Law (except for the Kuwait City International Financial Centre, which is hoping to better tailor itself towards American financial firms by defaulting to American Civil Law from pre-2020 rather than English Common Law). Much like in the DIFC, these new FTZs will also run their own courts, staffed in large part by top judicial talent from Common Law (or in the case of Kuwait City, American Civil Law) jurisdictions like Singapore, England, and (formerly) Hong Kong. Using these FTZ, the four cities hope to raise their profile as financial centers. Dubai in particular is hoping to break into the top ten global financial centers--and it stands a good chance of doing so, too, as it sits at number 12, just behind cities like LA, SF, and Shenzhen--while the other cities are just hoping to boost their profile into the 20s or 10s (according to Long Finance, Dubai is number 12 in the world and 1 in the region, Abu Dhabi is number 39 in the world and two in the region, Doha is number 48 in the world, and Kuwait City is number 91).
submitted by TheManIsNonStop to Geosim [link] [comments]

The Next Crypto Wave: The Rise of Stablecoins and its Entry to the U.S. Dollar Market

The Next Crypto Wave: The Rise of Stablecoins and its Entry to the U.S. Dollar Market

Author: Christian Hsieh, CEO of Tokenomy
This paper examines some explanations for the continual global market demand for the U.S. dollar, the rise of stablecoins, and the utility and opportunities that crypto dollars can offer to both the cryptocurrency and traditional markets.
The U.S. dollar, dominant in world trade since the establishment of the 1944 Bretton Woods System, is unequivocally the world’s most demanded reserve currency. Today, more than 61% of foreign bank reserves and nearly 40% of the entire world’s debt is denominated in U.S. dollars1.
However, there is a massive supply and demand imbalance in the U.S. dollar market. On the supply side, central banks throughout the world have implemented more than a decade-long accommodative monetary policy since the 2008 global financial crisis. The COVID-19 pandemic further exacerbated the need for central banks to provide necessary liquidity and keep staggering economies moving. While the Federal Reserve leads the effort of “money printing” and stimulus programs, the current money supply still cannot meet the constant high demand for the U.S. dollar2. Let us review some of the reasons for this constant dollar demand from a few economic fundamentals.

Demand for U.S. Dollars

Firstly, most of the world’s trade is denominated in U.S. dollars. Chief Economist of the IMF, Gita Gopinath, has compiled data reflecting that the U.S. dollar’s share of invoicing was 4.7 times larger than America’s share of the value of imports, and 3.1 times its share of world exports3. The U.S. dollar is the dominant “invoicing currency” in most developing countries4.

https://preview.redd.it/d4xalwdyz8p51.png?width=535&format=png&auto=webp&s=9f0556c6aa6b29016c9b135f3279e8337dfee2a6

https://preview.redd.it/wucg40kzz8p51.png?width=653&format=png&auto=webp&s=71257fec29b43e0fc0df1bf04363717e3b52478f
This U.S. dollar preference also directly impacts the world’s debt. According to the Bank of International Settlements, there is over $67 trillion in U.S. dollar denominated debt globally, and borrowing outside of the U.S. accounted for $12.5 trillion in Q1 20205. There is an immense demand for U.S. dollars every year just to service these dollar debts. The annual U.S. dollar buying demand is easily over $1 trillion assuming the borrowing cost is at 1.5% (1 year LIBOR + 1%) per year, a conservative estimate.

https://preview.redd.it/6956j6f109p51.png?width=487&format=png&auto=webp&s=ccea257a4e9524c11df25737cac961308b542b69
Secondly, since the U.S. has a much stronger economy compared to its global peers, a higher return on investments draws U.S. dollar demand from everywhere in the world, to invest in companies both in the public and private markets. The U.S. hosts the largest stock markets in the world with more than $33 trillion in public market capitalization (combined both NYSE and NASDAQ)6. For the private market, North America’s total share is well over 60% of the $6.5 trillion global assets under management across private equity, real assets, and private debt investments7. The demand for higher quality investments extends to the fixed income market as well. As countries like Japan and Switzerland currently have negative-yielding interest rates8, fixed income investors’ quest for yield in the developed economies leads them back to the U.S. debt market. As of July 2020, there are $15 trillion worth of negative-yielding debt securities globally (see chart). In comparison, the positive, low-yielding U.S. debt remains a sound fixed income strategy for conservative investors in uncertain market conditions.

Source: Bloomberg
Last, but not least, there are many developing economies experiencing failing monetary policies, where hyperinflation has become a real national disaster. A classic example is Venezuela, where the currency Bolivar became practically worthless as the inflation rate skyrocketed to 10,000,000% in 20199. The recent Beirut port explosion in Lebanon caused a sudden economic meltdown and compounded its already troubled financial market, where inflation has soared to over 112% year on year10. For citizens living in unstable regions such as these, the only reliable store of value is the U.S. dollar. According to the Chainalysis 2020 Geography of Cryptocurrency Report, Venezuela has become one of the most active cryptocurrency trading countries11. The demand for cryptocurrency surges as a flight to safety mentality drives Venezuelans to acquire U.S. dollars to preserve savings that they might otherwise lose. The growth for cryptocurrency activities in those regions is fueled by these desperate citizens using cryptocurrencies as rails to access the U.S. dollar, on top of acquiring actual Bitcoin or other underlying crypto assets.

The Rise of Crypto Dollars

Due to the highly volatile nature of cryptocurrencies, USD stablecoin, a crypto-powered blockchain token that pegs its value to the U.S. dollar, was introduced to provide stable dollar exposure in the crypto trading sphere. Tether is the first of its kind. Issued in 2014 on the bitcoin blockchain (Omni layer protocol), under the token symbol USDT, it attempts to provide crypto traders with a stable settlement currency while they trade in and out of various crypto assets. The reason behind the stablecoin creation was to address the inefficient and burdensome aspects of having to move fiat U.S. dollars between the legacy banking system and crypto exchanges. Because one USDT is theoretically backed by one U.S. dollar, traders can use USDT to trade and settle to fiat dollars. It was not until 2017 that the majority of traders seemed to realize Tether’s intended utility and started using it widely. As of April 2019, USDT trading volume started exceeding the trading volume of bitcoina12, and it now dominates the crypto trading sphere with over $50 billion average daily trading volume13.

https://preview.redd.it/3vq7v1jg09p51.png?width=700&format=png&auto=webp&s=46f11b5f5245a8c335ccc60432873e9bad2eb1e1
An interesting aspect of USDT is that although the claimed 1:1 backing with U.S. dollar collateral is in question, and the Tether company is in reality running fractional reserves through a loose offshore corporate structure, Tether’s trading volume and adoption continues to grow rapidly14. Perhaps in comparison to fiat U.S. dollars, which is not really backed by anything, Tether still has cash equivalents in reserves and crypto traders favor its liquidity and convenience over its lack of legitimacy. For those who are concerned about Tether’s solvency, they can now purchase credit default swaps for downside protection15. On the other hand, USDC, the more compliant contender, takes a distant second spot with total coin circulation of $1.8 billion, versus USDT at $14.5 billion (at the time of publication). It is still too early to tell who is the ultimate leader in the stablecoin arena, as more and more stablecoins are launching to offer various functions and supporting mechanisms. There are three main categories of stablecoin: fiat-backed, crypto-collateralized, and non-collateralized algorithm based stablecoins. Most of these are still at an experimental phase, and readers can learn more about them here. With the continuous innovation of stablecoin development, the utility stablecoins provide in the overall crypto market will become more apparent.

Institutional Developments

In addition to trade settlement, stablecoins can be applied in many other areas. Cross-border payments and remittances is an inefficient market that desperately needs innovation. In 2020, the average cost of sending money across the world is around 7%16, and it takes days to settle. The World Bank aims to reduce remittance fees to 3% by 2030. With the implementation of blockchain technology, this cost could be further reduced close to zero.
J.P. Morgan, the largest bank in the U.S., has created an Interbank Information Network (IIN) with 416 global Institutions to transform the speed of payment flows through its own JPM Coin, another type of crypto dollar17. Although people argue that JPM Coin is not considered a cryptocurrency as it cannot trade openly on a public blockchain, it is by far the largest scale experiment with all the institutional participants trading within the “permissioned” blockchain. It might be more accurate to refer to it as the use of distributed ledger technology (DLT) instead of “blockchain” in this context. Nevertheless, we should keep in mind that as J.P. Morgan currently moves $6 trillion U.S. dollars per day18, the scale of this experiment would create a considerable impact in the international payment and remittance market if it were successful. Potentially the day will come when regulated crypto exchanges become participants of IIN, and the link between public and private crypto assets can be instantly connected, unlocking greater possibilities in blockchain applications.
Many central banks are also in talks about developing their own central bank digital currency (CBDC). Although this idea was not new, the discussion was brought to the forefront due to Facebook’s aggressive Libra project announcement in June 2019 and the public attention that followed. As of July 2020, at least 36 central banks have published some sort of CBDC framework. While each nation has a slightly different motivation behind its currency digitization initiative, ranging from payment safety, transaction efficiency, easy monetary implementation, or financial inclusion, these central banks are committed to deploying a new digital payment infrastructure. When it comes to the technical architectures, research from BIS indicates that most of the current proofs-of-concept tend to be based upon distributed ledger technology (permissioned blockchain)19.

https://preview.redd.it/lgb1f2rw19p51.png?width=700&format=png&auto=webp&s=040bb0deed0499df6bf08a072fd7c4a442a826a0
These institutional experiments are laying an essential foundation for an improved global payment infrastructure, where instant and frictionless cross-border settlements can take place with minimal costs. Of course, the interoperability of private DLT tokens and public blockchain stablecoins has yet to be explored, but the innovation with both public and private blockchain efforts could eventually merge. This was highlighted recently by the Governor of the Bank of England who stated that “stablecoins and CBDC could sit alongside each other20”. One thing for certain is that crypto dollars (or other fiat-linked digital currencies) are going to play a significant role in our future economy.

Future Opportunities

There is never a dull moment in the crypto sector. The industry narratives constantly shift as innovation continues to evolve. Twelve years since its inception, Bitcoin has evolved from an abstract subject to a familiar concept. Its role as a secured, scarce, decentralized digital store of value has continued to gain acceptance, and it is well on its way to becoming an investable asset class as a portfolio hedge against asset price inflation and fiat currency depreciation. Stablecoins have proven to be useful as proxy dollars in the crypto world, similar to how dollars are essential in the traditional world. It is only a matter of time before stablecoins or private digital tokens dominate the cross-border payments and global remittances industry.
There are no shortages of hypes and experiments that draw new participants into the crypto space, such as smart contracts, new blockchains, ICOs, tokenization of things, or the most recent trends on DeFi tokens. These projects highlight the possibilities for a much more robust digital future, but the market also needs time to test and adopt. A reliable digital payment infrastructure must be built first in order to allow these experiments to flourish.
In this paper we examined the historical background and economic reasons for the U.S. dollar’s dominance in the world, and the probable conclusion is that the demand for U.S. dollars will likely continue, especially in the middle of a global pandemic, accompanied by a worldwide economic slowdown. The current monetary system is far from perfect, but there are no better alternatives for replacement at least in the near term. Incremental improvements are being made in both the public and private sectors, and stablecoins have a definite role to play in both the traditional and the new crypto world.
Thank you.

Reference:
[1] How the US dollar became the world’s reserve currency, Investopedia
[2] The dollar is in high demand, prone to dangerous appreciation, The Economist
[3] Dollar dominance in trade and finance, Gita Gopinath
[4] Global trades dependence on dollars, The Economist & IMF working papers
[5] Total credit to non-bank borrowers by currency of denomination, BIS
[6] Biggest stock exchanges in the world, Business Insider
[7] McKinsey Global Private Market Review 2020, McKinsey & Company
[8] Central banks current interest rates, Global Rates
[9] Venezuela hyperinflation hits 10 million percent, CNBC
[10] Lebanon inflation crisis, Reuters
[11] Venezuela cryptocurrency market, Chainalysis
[12] The most used cryptocurrency isn’t Bitcoin, Bloomberg
[13] Trading volume of all crypto assets, coinmarketcap.com
[14] Tether US dollar peg is no longer credible, Forbes
[15] New crypto derivatives let you bet on (or against) Tether’s solvency, Coindesk
[16] Remittance Price Worldwide, The World Bank
[17] Interbank Information Network, J.P. Morgan
[18] Jamie Dimon interview, CBS News
[19] Rise of the central bank digital currency, BIS
[20] Speech by Andrew Bailey, 3 September 2020, Bank of England
submitted by Tokenomy to tokenomyofficial [link] [comments]

I don't know why i am posting this

Technical analysis
spread-betting
https://zerodha.com/varsity/
https://www.babypips.com/learn/forex
technical indicators
Options learning
https://optionalpha.com/
https://www.optionsplaybook.com/option-strategies/
Books
pdf
option books
options noob questions
Youtube
mathematical finance
sensibull
for boomers
Price action
https://www.youtube.com/playlist?list=PLT6_Bt_TKitIW6KJ_EliFGeUWzMxm_9D-
algo trading
Podcast
theta gang
options alpha
chat with traders
options playbook
options genius
options bootcamp
apps for news
Some posts which i saved and dont know why
https://www.reddit.com/options/comments/ep7yrs/the_chart_moderators_dont_want_you_to_see/?utm_medium=android_app&utm_source=share
https://www.reddit.com/Forex/comments/cxn59p/for_all_the_traders_that_just_focus_on_price/?utm_medium=android_app&utm_source=share
https://www.reddit.com/Forex/comments/cxymyf/a_peek_into_how_financial_institutions_play_this/?utm_medium=android_app&utm_source=share
https://www.reddit.com/Forex/comments/dmzp14/so_you_wanna_be_a_proffesional_trade?utm_medium=android_app&utm_source=share
https://www.reddit.com/Forex/comments/6j7qm2/90_day_update_beginners_post/?utm_medium=android_app&utm_source=share
Edit- https://www.tastytrade.com/tt/learn/
submitted by The-ashura to IndianStreetBets [link] [comments]

ECON 2020: Macroeconomics, inflation and the Feds

Original post got deleted by the auto-mods last week obviously..
Anyways for all those who use big words like Macroeconomics etc, here is some education which the books don’t teach you.
Lot of confusion here about money printing by Feds leading to inflation etc. While it is true that money-printing can lead to hyper-inflation, but we need to look at it from a more fundamental perspective.
The first most important question to ask what is the currency that is being printed and what is it backed by? This is where we flaunt our huge USD dicks. USD is the predominant reserve currency in the world, countries essentially trust the almighty dollar, which then results in other currencies being backed by some sort of USD collateral. Most respectable central banks around the world have forex reserves in USD to back up not only their currency but also inter country transactions. This is where the Fed can literally have no limits on being jacked to the tits on printing money. Here is where it gets interesting, since most of the securities in the World have dollar as the underlying medium, if the US economy and dollar collapse, that will trigger a financial meltdown like none other virtually shaking the foundation of modern economics.
For more information on Global banking, Fed repo etc, read this well researched post:
https://www.reddit.com/wallstreetbets/comments/fe5s7e/the_fed_repos_are_an_attempt_to_prop_up_the/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Now one might say hey but that makes it very unfair and it seems like the US fed can fucking do whatever they want. Yes this is correct, they will. because they are the fucking makers of u/WSBGod; they are the WorldStreetBankingGod Therefore the World losing confidence in the dollar is a very weak argument.
For further understanding on why collapse of dollar is unlikely, please read the article below:
https://www.investopedia.com/articles/forex-currencies/091416/what-would-it-take-us-dollar-collapse.asp
Now coming to the meat of the argument about printing money leading to inflation which is partially true but not really, remember QE around the world in developed countries (especially the ones with strong currencies) has never resulted monetary inflation that the economists know of, but asset price inflation (including equity) is a different story. This is where i think there might be a concern of an impeding global financial crisis. Below are the articles which talk about inflation, QE etc
https://www.piie.com/sites/default/files/publications/pb/pb15-7.pdf
https://www.investopedia.com/articles/investing/022615/why-didnt-quantitative-easing-lead-hyperinflation.asp
Asset price inflation is the real danger here and that is why QE cannot be maintained without setting the stage for another, and much bigger and even more magnificent collapse of the financial system, the Big One if you will, and all the real-economy mayhem it would entail.
Now the feds and other central banks around the world have learnt key lessons from the 2008 financial crisis and with the banks now being more connected than ever before in a global economy, everyone will be looking to the Fed to lead them out of the bear-hole when we get to it. I think people really underestimate the power of the Federal reserve and are really autsitic if they think that a bat flu will take SPY to $0. The fact that we are still the most dominant economy in the World coupled with the USD being the reserve currency gives Fed a free hand to print money without any credibility crisis as long as they use that as the last measure to stop the “GLOBAL” economic crisis. Note that the key word here is global, because when the whole world is on fire, nobody bothers much about whether you started the fire as long as you are also the one who is extinguishing it. Another article to help understand this point is the one below:
https://www.ft.com/content/7562d1dc-bbb3-11e5-bf7e-8a339b6f2164
TL;DR: Don’t fight the Feds, they can print money, will print money and will get away with printing money to start the next bull run. Most macroeconomic theories and historical examples don’t apply to the US since we are both the creator and the player in the game. Markets might sell-off in short-term, but long term will go up as long as the Feds and the US government don’t create a credibility crisis domestically and internationally. Don’t go all in on puts, because you be up against a very formidable force in the Federal reserve and the US Government.
PS: I am not an economist but definitely an Autist. I am 10k in various puts and hoping to get out tomorrow when it plunges and sit on the sidelines.
Edit 1: I was in puts till end of last week, this post was made originally a week back. Currently in calls.
submitted by kilonova17 to wallstreetbets [link] [comments]

A REVIEW ON EXERGLOBAL AND CURRENT IMPRESSIVE FEATURES

A REVIEW ON EXERGLOBAL AND CURRENT IMPRESSIVE FEATURES

https://preview.redd.it/64wgt0e4atn41.jpg?width=728&format=pjpg&auto=webp&s=84cc964015d074caf5530802b2c6b1e4a06ed552
Blockchain technology emerged into the mainstream market because of cryptocurrency. Bitcoin was the first digital currency to adopt blockchain for it's transactions, overtime the potential of this technology was discovered to be more than a medium of transaction for cryptocurrencies. Several industries can benefit from the use of blockchain technology. Despite the finance industry being first to adopt this technology, other prestigious startups and industries have also started incorporating blockchain after noticing it's excellent features and qualities. Today, blockchain continues to transform conventional business models in different ways, thus acknowledged as the foundation for numerous development. Startups are more focused on harnessing the potential of blockchain to provide technical and innovative solutions to problems of current society. Integrating this technology into activities of modern business and startups creates pathways for gaining competitive advantage in the market. ExerGlobal is an example of such companies that have researched and adopted this technology which secures more advantage to move ahead of the competition. WHAT IS EXERGLOBAL? ExerGlobal, a worldwide affiliate and investment business venture that offers various services in Mining, Cannabis CBD products, Digital Currencies Education and Investment. The company was founded in 2017, since then, expanded it's services into cultivation and sales of cannabis in Switzerland. ExerGlobal became involved in cannabis production due to Swiss new legislation declared in 2017. This changed legislation allowed companies to manufacture and sale cannabis including associated products if only it contains less than 1% THC. Therefore, ExerGlobal aims to allow investors make huge returns from established legal cannabis farms in Switzerland via introduced secure and profitable cryptocurrency (VIRIDI coin), fully supported by viable and successful cannabis industry. MAIN FEATURES OF EXERGLOBAL - Viridi Coin A cryptocurrency created and launched by ExerGlobal in 2018. The Viridi coin is built on POW/POS, for the cannabis industry and enables users to invest as well receive good returns easily.
Benefits of Viridi Coin - Viridi coin serve as Crypto to one solution which possess cryptocurrency based digital economic system. - Available cross platform wallet named Viridi wallet. - Gives investors access to various types of investments, exchanges, wallet and transactions. - Viridi coin is developed on Explorer Blockchain that permit users to evaluate wallet balances and obtain simpler access to the wallet. - Inbuilt ecosystem enables Viridi coin owners to perform online and offline transactions.
https://preview.redd.it/kdkdidgpatn41.png?width=640&format=png&auto=webp&s=7bc49c8496d6f570ce703291fcb10104e6af969f
- Exer School This is another interesting project from ExerGlobal. The mission of Exer School is to educate interested individuals about cryptocurrencies and their impact in modern economy. Anyone can easily join and become an expert on digital currencies by learning through Exer School and it's incredible innovation. - Exer Mining Exer Mining plays a unique role of being an excellent mining program from ExerGlobal. This allows users to mine Ethereum and Monero digital currencies and can be stored in personal online account. The mined digital currencies can be traded for Litecoin. ExerGlobal team have announced that users can mine Viridi coin from the year 2020. - XPC Coin XPC coin was designed by ExerGlobal to be a proof of stake coin, which produces returns from Trading, Exer Games and Forex Trading. XPC is made available in three forms such as Life, Premium and Invest. - Exer Games A Game development branch from ExerGlobal company. Exer Games was introduced in mid 2019 and focuses on developing proprietary Casino and Smart phone games recognized as Youniq Games. The developed games is connected to XPC coin and owners will receive micro dividends from Casino and Adventure games including Viridi Forex. CONCLUSION The ExerGlobal project have introduced a new dimension of profitable investment that is unrivaled by competitors. These innovative products and services available within the expanded network of Exer Global will help propel the project ahead of the competition in the market, hence ExerGlobal requires more attention from investors because it will definitely become successful in the future.
For more details, kindly visit the official links below ; Website: https://exerglobal.com/ Mining: http://exermining.com/ White Paper: https://exerglobal.com/Download/pdf/sv/eXer%20Presentation%207lvl.pdf Facebook: https://www.facebook.com/youniqexerglobalgroup Twitter: https://twitter.com/YouniqG Telegram: https://t.me/youniq\_exerglobal\_group WRITER DETAILS, Bitcointalk Username : Johnson Knight Bitcointalk Profile URL : https://bitcointalk.org/index.php?action=profile;u=2326370;sa=summary Telegram username : @crimson_osito
submitted by Cryptosaurus94 to CryptoCluster [link] [comments]

CRYPTOCURRENCY BITCOIN

CRYPTOCURRENCY BITCOIN
Bitcoin Table of contents expand: 1. What is Bitcoin? 2. Understanding Bitcoin 3. How Bitcoin Works 4. What's a Bitcoin Worth? 5. How Bitcoin Began 6. Who Invented Bitcoin? 7. Before Satoshi 8. Why Is Satoshi Anonymous? 9. The Suspects 10. Can Satoshi's Identity Be Proven? 11. Receiving Bitcoins As Payment 12. Working For Bitcoins 13. Bitcoin From Interest Payments 14. Bitcoins From Gambling 15. Investing in Bitcoins 16. Risks of Bitcoin Investing 17. Bitcoin Regulatory Risk 18. Security Risk of Bitcoins 19. Insurance Risk 20. Risk of Bitcoin Fraud 21. Market Risk 22. Bitcoin's Tax Risk What is Bitcoin?
Bitcoin is a digital currency created in January 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity is yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies.
There are no physical bitcoins, only balances kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite it not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of other virtual currencies collectively referred to as Altcoins.
Understanding Bitcoin Bitcoin is a type of cryptocurrency: Balances are kept using public and private "keys," which are long strings of numbers and letters linked through the mathematical encryption algorithm that was used to create them. The public key (comparable to a bank account number) serves as the address which is published to the world and to which others may send bitcoins. The private key (comparable to an ATM PIN) is meant to be a guarded secret and only used to authorize Bitcoin transmissions. Style notes: According to the official Bitcoin Foundation, the word "Bitcoin" is capitalized in the context of referring to the entity or concept, whereas "bitcoin" is written in the lower case when referring to a quantity of the currency (e.g. "I traded 20 bitcoin") or the units themselves. The plural form can be either "bitcoin" or "bitcoins."
How Bitcoin Works Bitcoin is one of the first digital currencies to use peer-to-peer technology to facilitate instant payments. The independent individuals and companies who own the governing computing power and participate in the Bitcoin network, also known as "miners," are motivated by rewards (the release of new bitcoin) and transaction fees paid in bitcoin. These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network. New bitcoin is being released to the miners at a fixed, but periodically declining rate, such that the total supply of bitcoins approaches 21 million. One bitcoin is divisible to eight decimal places (100 millionths of one bitcoin), and this smallest unit is referred to as a Satoshi. If necessary, and if the participating miners accept the change, Bitcoin could eventually be made divisible to even more decimal places. Bitcoin mining is the process through which bitcoins are released to come into circulation. Basically, it involves solving a computationally difficult puzzle to discover a new block, which is added to the blockchain and receiving a reward in the form of a few bitcoins. The block reward was 50 new bitcoins in 2009; it decreases every four years. As more and more bitcoins are created, the difficulty of the mining process – that is, the amount of computing power involved – increases. The mining difficulty began at 1.0 with Bitcoin's debut back in 2009; at the end of the year, it was only 1.18. As of February 2019, the mining difficulty is over 6.06 billion. Once, an ordinary desktop computer sufficed for the mining process; now, to combat the difficulty level, miners must use faster hardware like Application-Specific Integrated Circuits (ASIC), more advanced processing units like Graphic Processing Units (GPUs), etc.
What's a Bitcoin Worth? In 2017 alone, the price of Bitcoin rose from a little under $1,000 at the beginning of the year to close to $19,000, ending the year more than 1,400% higher. Bitcoin's price is also quite dependent on the size of its mining network since the larger the network is, the more difficult – and thus more costly – it is to produce new bitcoins. As a result, the price of bitcoin has to increase as its cost of production also rises. The Bitcoin mining network's aggregate power has more than tripled over the past twelve months.
How Bitcoin Began
Aug. 18, 2008: The domain name bitcoin.org is registered. Today, at least, this domain is "WhoisGuard Protected," meaning the identity of the person who registered it is not public information.
Oct. 31, 2008: Someone using the name Satoshi Nakamoto makes an announcement on The Cryptography Mailing list at metzdowd.com: "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. The paper is available at http://www.bitcoin.org/bitcoin.pdf." This link leads to the now-famous white paper published on bitcoin.org entitled "Bitcoin: A Peer-to-Peer Electronic Cash System." This paper would become the Magna Carta for how Bitcoin operates today.
Jan. 3, 2009: The first Bitcoin block is mined, Block 0. This is also known as the "genesis block" and contains the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," perhaps as proof that the block was mined on or after that date, and perhaps also as relevant political commentary.
Jan. 8, 2009: The first version of the Bitcoin software is announced on The Cryptography Mailing list.
Jan. 9, 2009: Block 1 is mined, and Bitcoin mining commences in earnest.
Who Invented Bitcoin?
No one knows. Not conclusively, at any rate. Satoshi Nakamoto is the name associated with the person or group of people who released the original Bitcoin white paper in 2008 and worked on the original Bitcoin software that was released in 2009. The Bitcoin protocol requires users to enter a birthday upon signup, and we know that an individual named Satoshi Nakamoto registered and put down April 5 as a birth date. And that's about it.
Before Satoshi
Though it is tempting to believe the media's spin that Satoshi Nakamoto is a solitary, quixotic genius who created Bitcoin out of thin air, such innovations do not happen in a vacuum. All major scientific discoveries, no matter how original-seeming, were built on previously existing research. There are precursors to Bitcoin: Adam Back’s Hashcash, invented in 1997, and subsequently Wei Dai’s b-money, Nick Szabo’s bit gold and Hal Finney’s Reusable Proof of Work. The Bitcoin white paper itself cites Hashcash and b-money, as well as various other works spanning several research fields.
Why Is Satoshi Anonymous?
There are two primary motivations for keeping Bitcoin's inventor keeping his or her or their identity secret. One is privacy. As Bitcoin has gained in popularity – becoming something of a worldwide phenomenon – Satoshi Nakamoto would likely garner a lot of attention from the media and from governments.
The other reason is safety. Looking at 2009 alone, 32,489 blocks were mined; at the then-reward rate of 50 BTC per block, the total payout in 2009 was 1,624,500 BTC, which at today’s prices is over $900 million. One may conclude that only Satoshi and perhaps a few other people were mining through 2009 and that they possess a majority of that $900 million worth of BTC. Someone in possession of that much BTC could become a target of criminals, especially since bitcoins are less like stocks and more like cash, where the private keys needed to authorize spending could be printed out and literally kept under a mattress. While it's likely the inventor of Bitcoin would take precautions to make any extortion-induced transfers traceable, remaining anonymous is a good way for Satoshi to limit exposure.
The Suspects
Numerous people have been suggested as possible Satoshi Nakamoto by major media outlets. Oct. 10, 2011, The New Yorker published an article speculating that Nakamoto might be Irish cryptography student Michael Clear or economic sociologist Vili Lehdonvirta. A day later, Fast Company suggested that Nakamoto could be a group of three people – Neal King, Vladimir Oksman and Charles Bry – who together appear on a patent related to secure communications that were filed two months before bitcoin.org was registered. A Vice article published in May 2013 added more suspects to the list, including Gavin Andresen, the Bitcoin project’s lead developer; Jed McCaleb, co-founder of now-defunct Bitcoin exchange Mt. Gox; and famed Japanese mathematician Shinichi Mochizuki.
In December 2013, Techcrunch published an interview with researcher Skye Grey who claimed textual analysis of published writings shows a link between Satoshi and bit-gold creator Nick Szabo. And perhaps most famously, in March 2014, Newsweek ran a cover article claiming that Satoshi is actually an individual named Satoshi Nakamoto – a 64-year-old Japanese-American engineer living in California. The list of suspects is long, and all the individuals deny being Satoshi.
Can Satoshi's Identity Be Proven?
It would seem even early collaborators on the project don’t have verifiable proof of Satoshi’s identity. To reveal conclusively who Satoshi Nakamoto is, a definitive link would need to be made between his/her activity with Bitcoin and his/her identity. That could come in the form of linking the party behind the domain registration of bitcoin.org, email and forum accounts used by Satoshi Nakamoto, or ownership of some portion of the earliest mined bitcoins. Even though the bitcoins Satoshi likely possesses are traceable on the blockchain, it seems he/she has yet to cash them out in a way that reveals his/her identity. If Satoshi were to move his/her bitcoins to an exchange today, this might attract attention, but it seems unlikely that a well-funded and successful exchange would betray a customer's privacy.
Receiving Bitcoins As Payment
Bitcoins can be accepted as a means of payment for products sold or services provided. If you have a brick and mortar store, just display a sign saying “Bitcoin Accepted Here” and many of your customers may well take you up on it; the transactions can be handled with the requisite hardware terminal or wallet address through QR codes and touch screen apps. An online business can easily accept bitcoins by just adding this payment option to the others it offers, like credit cards, PayPal, etc. Online payments will require a Bitcoin merchant tool (an external processor like Coinbase or BitPay).
Working For Bitcoins
Those who are self-employed can get paid for a job in bitcoins. There are several websites/job boards which are dedicated to the digital currency:
Work For Bitcoin brings together work seekers and prospective employers through its websiteCoinality features jobs – freelance, part-time and full-time – that offer payment in bitcoins, as well as Dogecoin and LitecoinJobs4Bitcoins, part of reddit.comBitGigs
Bitcoin From Interest Payments
Another interesting way (literally) to earn bitcoins is by lending them out and being repaid in the currency. Lending can take three forms – direct lending to someone you know; through a website which facilitates peer-to-peer transactions, pairing borrowers and lenders; or depositing bitcoins in a virtual bank that offers a certain interest rate for Bitcoin accounts. Some such sites are Bitbond, BitLendingClub, and BTCjam. Obviously, you should do due diligence on any third-party site.
Bitcoins From Gambling
It’s possible to play at casinos that cater to Bitcoin aficionados, with options like online lotteries, jackpots, spread betting, and other games. Of course, the pros and cons and risks that apply to any sort of gambling and betting endeavors are in force here too.
Investing in Bitcoins
There are many Bitcoin supporters who believe that digital currency is the future. Those who endorse it are of the view that it facilitates a much faster, no-fee payment system for transactions across the globe. Although it is not itself any backed by any government or central bank, bitcoin can be exchanged for traditional currencies; in fact, its exchange rate against the dollar attracts potential investors and traders interested in currency plays. Indeed, one of the primary reasons for the growth of digital currencies like Bitcoin is that they can act as an alternative to national fiat money and traditional commodities like gold.
In March 2014, the IRS stated that all virtual currencies, including bitcoins, would be taxed as property rather than currency. Gains or losses from bitcoins held as capital will be realized as capital gains or losses, while bitcoins held as inventory will incur ordinary gains or losses.
Like any other asset, the principle of buying low and selling high applies to bitcoins. The most popular way of amassing the currency is through buying on a Bitcoin exchange, but there are many other ways to earn and own bitcoins. Here are a few options which Bitcoin enthusiasts can explore.
Risks of Bitcoin Investing
Though Bitcoin was not designed as a normal equity investment (no shares have been issued), some speculative investors were drawn to the digital money after it appreciated rapidly in May 2011 and again in November 2013. Thus, many people purchase bitcoin for its investment value rather than as a medium of exchange.
However, their lack of guaranteed value and digital nature means the purchase and use of bitcoins carries several inherent risks. Many investor alerts have been issued by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Consumer Financial Protection Bureau (CFPB), and other agencies.
The concept of a virtual currency is still novel and, compared to traditional investments, Bitcoin doesn't have much of a long-term track record or history of credibility to back it. With their increasing use, bitcoins are becoming less experimental every day, of course; still, after eight years, they (like all digital currencies) remain in a development phase, still evolving. "It is pretty much the highest-risk, highest-return investment that you can possibly make,” says Barry Silbert, CEO of Digital Currency Group, which builds and invests in Bitcoin and blockchain companies.
Bitcoin Regulatory Risk
Investing money into Bitcoin in any of its many guises is not for the risk-averse. Bitcoins are a rival to government currency and may be used for black market transactions, money laundering, illegal activities or tax evasion. As a result, governments may seek to regulate, restrict or ban the use and sale of bitcoins, and some already have. Others are coming up with various rules. For example, in 2015, the New York State Department of Financial Services finalized regulations that would require companies dealing with the buy, sell, transfer or storage of bitcoins to record the identity of customers, have a compliance officer and maintain capital reserves. The transactions worth $10,000 or more will have to be recorded and reported.
Although more agencies will follow suit, issuing rules and guidelines, the lack of uniform regulations about bitcoins (and other virtual currency) raises questions over their longevity, liquidity, and universality.
Security Risk of Bitcoins
Bitcoin exchanges are entirely digital and, as with any virtual system, are at risk from hackers, malware and operational glitches. If a thief gains access to a Bitcoin owner's computer hard drive and steals his private encryption key, he could transfer the stolen Bitcoins to another account. (Users can prevent this only if bitcoins are stored on a computer which is not connected to the internet, or else by choosing to use a paper wallet – printing out the Bitcoin private keys and addresses, and not keeping them on a computer at all.) Hackers can also target Bitcoin exchanges, gaining access to thousands of accounts and digital wallets where bitcoins are stored. One especially notorious hacking incident took place in 2014, when Mt. Gox, a Bitcoin exchange in Japan, was forced to close down after millions of dollars worth of bitcoins were stolen.
This is particularly problematic once you remember that all Bitcoin transactions are permanent and irreversible. It's like dealing with cash: Any transaction carried out with bitcoins can only be reversed if the person who has received them refunds them. There is no third party or a payment processor, as in the case of a debit or credit card – hence, no source of protection or appeal if there is a problem.
Insurance Risk
Some investments are insured through the Securities Investor Protection Corporation. Normal bank accounts are insured through the Federal Deposit Insurance Corporation (FDIC) up to a certain amount depending on the jurisdiction. Bitcoin exchanges and Bitcoin accounts are not insured by any type of federal or government program.
Risk of Bitcoin Fraud
While Bitcoin uses private key encryption to verify owners and register transactions, fraudsters and scammers may attempt to sell false bitcoins. For instance, in July 2013, the SEC brought legal action against an operator of a Bitcoin-related Ponzi scheme.
Market Risk
Like with any investment, Bitcoin values can fluctuate. Indeed, the value of the currency has seen wild swings in price over its short existence. Subject to high volume buying and selling on exchanges, it has a high sensitivity to “news." According to the CFPB, the price of bitcoins fell by 61% in a single day in 2013, while the one-day price drop in 2014 has been as big as 80%.
If fewer people begin to accept Bitcoin as a currency, these digital units may lose value and could become worthless. There is already plenty of competition, and though Bitcoin has a huge lead over the other 100-odd digital currencies that have sprung up, thanks to its brand recognition and venture capital money, a technological break-through in the form of a better virtual coin is always a threat.
Bitcoin's Tax Risk
As bitcoin is ineligible to be included in any tax-advantaged retirement accounts, there are no good, legal options to shield investments from taxation.
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Related Terms
Satoshi
The satoshi is the smallest unit of the bitcoin cryptocurrency. It is named after Satoshi Nakamoto, the creator of the protocol used in block chains and the bitcoin cryptocurrency.
Chartalism Chartalism is a non-mainstream theory of money that emphasizes the impact of government policies and activities on the value of money.
Satoshi Nakamoto The name used by the unknown creator of the protocol used in the bitcoin cryptocurrency. Satoshi Nakamoto is closely-associated with blockchain technology.
Bitcoin Mining, Explained Breaking down everything you need to know about Bitcoin Mining, from Blockchain and Block Rewards to Proof-of-Work and Mining Pools.
Understanding Bitcoin Unlimited Bitcoin Unlimited is a proposed upgrade to Bitcoin Core that allows larger block sizes. The upgrade is designed to improve transaction speed through scale.
Blockchain Explained
A guide to help you understand what blockchain is and how it can be used by industries. You've probably encountered a definition like this: “blockchain is a distributed, decentralized, public ledger." But blockchain is easier to understand than it sounds.
Top 6 Books to Learn About Bitcoin About UsAdvertiseContactPrivacy PolicyTerms of UseCareers Investopedia is part of the Dotdash publishing family.The Balance Lifewire TripSavvy The Spruceand more
By Satoshi Nakamoto
Read it once, go read other crypto stuff, read it again… keep doing this until the whole document makes sense. It’ll take a while, but you’ll get there. This is the original whitepaper introducing and explaining Bitcoin, and there’s really nothing better out there to understand on the subject.
“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party

submitted by adrian_morrison to BlockchainNews [link] [comments]

DIGITAL GOLD BENEFITS AND MERITS

DIGITAL GOLD BENEFITS AND MERITS

https://preview.redd.it/9rjz8nwx2uy31.png?width=521&format=png&auto=webp&s=983e65d2f6b04e623a513cfee7091402600b9cca
Gold is a normal mineral that is mined as a result of its extraordinary properties, for instance, strong and, for budgetary worth, gold has been viewed as one of the most essential and over the top mined minerals, a bit of leeway that is once in a while included. it is over the top. During the time gold has made from being a commonplace mineral into a sort of cash, this is a quick result of the propelled trade advance, for instance, Forex needs to trade gold sets with other authentic budgetary structures.
A response to this has been should have been known as DIGITAL GOLD which uses Blockchain Innovation to beat the issues that gold appearances. Impelled Gold is a blockchain based business, made to attract the digitization of the spending market, and their differing speculative instruments and needs to accomplish this by enabling customers to purchase unions in physical gold, through shocking GOLD TOKEN that relies on the ERC-20 Ethereum Platform.
The chief capital theory Putting assets into gold is a based exertion on capital, making it hard for people with insignificant financing to go on an undertaking. Motorized Gold is a stage bunch between different ace units identified with cash, including both little and enormous capital theories enough purchasing gold through Digital Gold and incredible places of thankfulness in worth. A long purchasing structure and an excess of high welfare exertion The issues related with verifies physical metals to guarantee that they are dealt with securely are wonderful, and the issues related with acquiring physical gold. Announcing made by various work locales and the nonappearance of absence of definition for masters identified with gold coins are affirmed gives that are hard to persevere. With Digital Gold, notwithstanding, this issue doesn't exist considering the manner in which that budgetary specialists can make conundrum buys rapidly from their reduced pleasure or different instruments that help the web. Impelled Gold expels this repression/issue and offers contrasting suggestion respects.
CENTRAL POINTS OF DIGITAL GOLD STABLECOIN
The Digital Gold platform has an astounding internal cryptographic cold hard cash known as a Gold Token and every token is for all intents and purposes indistinguishable from one gram of 99.99% FINE gold set away in a connection safe, so you need to do a little math to discover how a ton of gold FINE you have to store . This prescribes when a customer has any size Gold tokens, they routinely have the gold set something aside for them in the alliance's vault. Moreover, tokens enable customers to purchase the ramifications of utilizing gold to trade cash, or use it as a riches accumulating methodology and that requires significant endeavors to accomplish.
Deal of Gold with Blockchain Innovation is authentication that the blockchain can irritate the budgetary market, show the upsides of this specific progression and simultaneously make digitalization of this Gold add to premium all through the world and the Gold Token and Digital Gold business focus won't be satisfactory for this amazing crowd.
One of the exercises that I balanced was to have a widely inclusive strategy of hypotheses. GOLD gives a perfect budgetary chance to place assets into one, for example, two particularly fluid markets (moved cash and gold) with solid potential for movement. Gold Digital Tokens gave on Ethereum are fun tokens with ERC20 appears. Moved Gold tokens offer a merger of one gram of 99% unadulterated gold. Digital Gold expenses are continually resuscitated utilizing spot gold costs with insignificant spreads. At whatever point Digital Gold tokens are acquired, a level of the gold identical is physically sent to the DigitalGold Ltd. safe.
CONCLUSION
The movement of the web and blockchain has changed joint business attempts and tried new types of progress for endeavors with the potential for developing goliath. Gone are the working noteworthy stretches of various administrative records, get a genuine guide/outsider for understanding progress and necessities, just to contribute. As more people, affiliations, divisions, and the economy keep dealing with the progress of the blockchain, Digital Gold will keep considering paying little personality to how you trust it to be a structure that is continually arranged to place assets into an especially fluid gold market that offers better than foreseen conditions. Thus put into gold. Why lock when you can work sharp? Why spend more assets utilizing existing and obsolete gold exertion procedures when general decisions exist? Why not discover more by visiting the Site, or checking the whitepaper. You can in like way look in the wake of trying to utilize the times of online structure affiliation media, for example, Facebook, Twitter and Messages for updates and deals.
Kindly visit the below website for more in depth knowledge about the project
Website: https://gold.storage/
Whitepaper: https://gold.storage/wp.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5161544
Telegram: https://t.me/digitalgoldcoin
Twitter: https://twitter.com/gold_erc20
Reddit: https://www.reddit.com/golderc20
Bitcointalk username: bosunbossman
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1197648;sa=summary
submitted by bboossmmaann to BlockchainStartups [link] [comments]

Digital Gold: Evolving the Gold Market

Digital Gold: Evolving the Gold Market

https://preview.redd.it/97irkcrbmja41.png?width=494&format=png&auto=webp&s=5f2643957a258f58e304fb8eee42f4029066b38e
Introduction
Gold is an important normal assets providing for all humankind by method for God Himself, it draws potential investors much like a magnet does draws. Do you comprehend why ? Since anyplace Gold is-individuals go toward that course looking for financial harmony and future ability benefits that must be found in gold.
At the point when we look at the stock marketplace thing; we can see eagerly that gold has kept up a strong charge during that time and has certain a ton of investors as a helpful shop of riches and money for individuals.
By and large, most extreme purchasers buy the gold prospects to differentiate danger. In any case, gold has demonstrated itself to be solid predictable and a safe for all. Contrasting this concurrent with crypto forex is the reason the Digital Gold platform is here.
Digital Gold platform is expecting to move the more normal qualities of gold into the cryptographic money worldwide along these lines making a solid, solid, secure, verified and predictable stable coin for the digital currency worldwide to appreciate and enjoy.
In all nutshell; I will advise us nowadays the reason why the virtual gold platform stable coin is higher than the present Stable coins.
Existent solid coins blessing nowadays are normally asset supported digital forms of money on the front; and even as a couple are unified to a definite vault; some Steady coins are decentralized. Unified stable coin are helpless against hack or likely overlap up; while Decentralized are supported either through fiat or digital currency or with the guide of sources that are more than precious including gold, silver, etc
For what reason is Digital Gold Stable coins the quality?
The digital gold solid coin; with ticker GOLD is a decentralized stable coin supported by method for the Gold precious metallic; which ensures that the expense of the gold steel is equivalent to the expense of the gold token; this ensures the gold token :
The gold token worth is consistent constantly and moreover really redeemable anytime you need; it is additionally consistently sought after.
The gold token is financed through 9200 bullion Gold vault which rises to 9200 gold tokens. I.E 9200 Gold in vault = 9200 gold tokens.
**N.B: The Gold Platform Group gave 9200 tokens in light of the fact that legitimate now The Gold vault shops 9200 grams of gold. 1 gram of gold = 1 gold token.
After investors purchase the limit of the existent 7200 tokens, the digital gold association will purchase a fresh out of the box new part of metal gold and put it inside the vault carport. From that point forward, the team will transfer GOLD tokens to more markets.
With such highlights above; I can tell you that gold token stable coin is the way ahead in safeguarding our accounts secure; verified, straightforward and totally supported by methods for 7,200 gold vault.
I really have had a non-open run over with the platform and it's the charming stablecoin I have happened upon.
As upon the arrival of distributing this content,
The gold token is buyable and sellable at the gold site, https://gold.storage.
Moreover, you can change the gold token on Cryptex website. Visit https://cryptex.exchange
Also you can trade Digital Gold to at https://www.bitforex.com/en/spot/gold_btc
https://livecoin.net/en/trading/GOLD_BTC
https://www.catex.io/trading/GOLD/BTC
Do you wish to know more information, quickly visit:
Website: https://gold.storage/
Whitepaper: https://gold.storage/wp.pdf
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=5161544
Telegram: https://t.me/digitalgoldcoin
Twitter : https://twitter.com/gold_erc20
Bitcointalk name: Raymzopai
Bitcointalk Link: https://bitcointalk.org/index.php?action=profile;u=2129537;sa=summary
submitted by adiaha11 to Crypto_Investments [link] [comments]

Why Genesis Vision (GVT) Should Be on Your Watch-List

In light of the recent shills regarding GVT, I thought it would be the perfect time to give some of you a quick look on what GVT is and why it has been getting so much attention as of late. As a disclaimer, I am invested in GVT and I would like to also point out that although I am fairly active on the GVT sub reddit, I have not shilled it whatsoever on /r crypto. I mention this because I know there will be those that say "oh great, another shill post/comment" and had I been trying to shill, I would be all over this sub spamming people about it. I will try to make this post as unbiased as possible. In return, I simply ask that any FUD, and shills as well, include some substance so that we may have a nice discussion.

What is Genesis Vision?

Genesis Vision, from the site, is "the first platform for the private trust management market, built on Blockchain technology and Smart Contracts". Simply put, they are creating an easy-to-use app where people who do not know how to invest their money can give it to someone who does on a trustless platform. Think of it like a trust-less brokerage firm that is backed by blockchain technology and smart contracts. From the white-paper, there are 3 types of people on the platform:
The final GVT platform will have the forex, stock and crypto market all integrated onto one app. GVT's alpha release on April 1st will only include the forex market. Q4 of this year will then integrate crypto for their beta release. Finally, on their final product release, stocks will be added.

How is the platform trust-less?

First ask yourself this, why can people trust traditional brokers with their money? They can't. Who's not to say any given broker won't run away or make awful investments and lose your money? The only thing people like you and me can go off of when investing with any given broker is their track record - and that’s something that could be tampered with too. How long has this person/brokerage firm been in the market? How reliable are they? Stuff like this isn't going to be an issue on Genesis Vision. The time a person has been investing on the platform is all public on the blockchain. Every good investment and every bad investment will be publicly listed. Smart contracts will ensure that no manager can close shop and run with your money. At the end of the trading period, funds are released to the original investor and the manager is given a cut - all safely and securely using smart contracts. This completely eliminates the trust factor as everyone will simply base investments on a manager’s track record.

How does it work?

On the platform, each manager will have their own token. You invest into said manager by buying their token. The manager can then utilize the various markets available to invest and hopefully grow your money. Managers will have levels that are based on their ability to make consistent and reliable gains. The lowest level a manager can be is level 1 while the highest is 7. Your level basically determines how much money you can handle - the max level being able to handle roughly $1m. New people can apply to become a manager after they have developed a track record by trading a minimum of $1,000 over a given period of time.

How GVT is creating its own ecosystem.

To make it easier to understand how the platform will work, ask yourself how the current crypto market works. No matter how many trades you do or what coins you hold, the end goal is to have your portfolio be worth more satoshis/gwei than what you started with. You can either hold BTC, OR you can invest in various altcoins in hopes that it will grow faster than BTC. The reason people research low cap “undiscovered” cryptos is to hopefully catch a rocketship before it takes off. Times have since changed, but everything used to have to go through BTC. Buying alts? Exchange from BTC. Selling alts? Exchange to BTC. BTC falls, everyone falls. BTC grows, everyone grows (sometimes). Some alts will fall harder than BTC, and some won't. Some alts will grow faster than BTC and some won't. Because of BTC's dominance over the market, it is why many crypto veterans hold a big portion of their portfolio in BTC and why they often recommend it to others.
This is akin to how the GVT platform will work. GVT is BTC and the managers on the platform are the altcoins. You could either hold GVT or put it into a manager that will hopefully get you better returns. Much like how people right now look for “undervalued” and “undiscovered” altcoins, there will be talks and similar conversation about undiscovered managers with potential. Now remember, this is how it’s going to be for the intermediate to advanced people, but for newer or more busy people, GVT can become a fantastic tool for side-income.
The platform’s main goal is mass adoption. People like me and you would be more inclined to simply hold GVT since we’d be able to spot out good short, mid and long holds ourselves. Also, since as the platform grows, the coin itself will naturally grow with it. However, what GVT is aiming to do is build a platform similar to Robinhood. Just like how they made investing in stocks - and now cryptos - more appealing and easier to all audiences (especially younger ones), GVT is trying to do this but with a broker-like app instead. Also, keep in mind I’m just talking about crypto. The platform is going to utilize the forex market and the stock market as well.
The takeaway of all this is that because GVT will have its own platform where you can buy/sell GVT straight off of, down the line GVT could possibly part ways with Bitcoin and in a sense create its own ecosystem where GVT is the driving force of its own market.

Why invest with a manager?

So now, I’m again talking exclusively crypto (since I’m not the most knowledgeable on the forex/stock market), but why would any of us want to invest with a manager? Technical analysis and day-trading is an incredibly taboo subject on this subreddit, but that’s because people don’t understand that TA is a tool. It’s not a fact that it’s going to pan out exactly as it’s written and there are many different things to look at when doing technical analysis on a chart. Any investment in this market is speculation and TA is very useful with helping you make educated guesses for the short, mid and long term. With that said, there are some really good day-traders out there. I’m not sure how this subreddits sentiment is towards Philakone (an exclusive day trader on twitteyoutube/steemit), but the dude makes a good amount of consistent money on a daily basis, whether it be a bull or bear market, and keeps his followers up to date by the minute - for free. Imagine if he were to get on the GVT platform and instead of people trying to copy/paste or follow what he does on Twitter, they can just give him money on the GV platform and have him do the work? Down the line if he becomes a level 7 manager and as a result is given a cut of the $1m he is allowed to work with, the literal TON of money he’d be making would certainly appeal to others looking to do the same. They would no doubt have their eyes on GVT and from there, the platform’s growth would be exponential once more and more managebrokers hop on.
I’m not saying that this is exactly how everything will turn out, but still imagine being able to make money in a bear market? And aside from that, there is the forex and stock market to utilize and if any of us ever become serious investors, it would important not to just diversify in crypto, but in different markets altogether and being familiar with GVT would greatly help. Again, this is purely talk on the potential of the platform so take it with a grain of salt and DYOR!

Some thoughts + moonboy talk

Okay this is going to be pure moon-talk since I know that’s what drives most of you. To start, the team is most familiar with the forex market - which has a LOT of money in it - and that is what they will be implementing first on their Alpha launch on April 1st. Crypto implementation in Q4 2018 on beta release and then stock implementation in Q1 2019 on the full release.
Remember that REAL adoption comes when people are using applications built on the blockchain without knowing - something GVT will be doing. Look at Steemit. It is the most active blockchain by far - beating out Ethereum AND Bitcoin ( http://blocktivity.info ). Why? Because it’s smooth and functions like a normal website, despite its use of blockchain technology. I’m not saying GVT will automatically shoot up to the top, but actual use is what will determine any crypto’s success and Genesis Vision is looking like a really solid candidate right now.
On top of this, GVT’s CBDO (Chief Business Development Officer) was the founder of tools4brokers ( http://www.t4b.com ) so they have someone on the team with experience with a successful and working product. I’m not going to take a deep-dive on the rest of the team, but I highly suggest checking out the roadmap and the team (all but a few have linkdin profiles).
Now for the money. First, do NOT be fooled about GVT’s USD price. The price is so high because its token supply is very limited. It is roughly 1/6th the supply of Bitcoin’s meaning we would just have to get to 1/6th of Bitcoin’s market cap (around $25b) in order for 1 GVT to equal 1 BTC. It’s a stretch, sure, but it’s more possible than you think. To put it plain and simple, the forex, stock and crypto market altogether amount to upwards of almost $100 trillion.
GVT is a $100m market cap crypto trying to disrupt a $100 trillion~ industry with an easy-to-use, innovative and game-changing app
  • .001% of this market = $1 billion market cap (1,000% gains from now)
  • .01% of this market = $10 billion market cap (10,000% gains from now)
  • .1% of this market = $100 billion market cap (100,000% gains from now)
Huge disclaimer that just because we could reach these numbers, does not necessarily mean we will, but I see no reason why can’t hit a billion or even 10 down the line.

Conclusion

That’s pretty much it from me. Genesis Vision is a project I, and many others, are extremely excited about. It has a lot going for itself and with such a low market cap, it’s definitely something to at least throw on your watch- list. Hopefully this post didn’t come off as too much of a shill (aside from the last portion) and instead opened some people up to why GVT isn’t just “another shitcoin”. If I missed anything, don't be afraid to chip in! And I’d also be more than happy to try and answer any questions some of you may have but I simply ask that you take a look at the white-paper ( https://genesis.vision/white-paper-eng.pdf ) first as it is very user-friendly and would answer some of your questions better than I could.
Links
Website: https://genesis.vision/
Whitepaper: https://genesis.vision/white-paper-eng.pdf
submitted by DKill77x to genesisvision [link] [comments]

ENCRYBIT PLATFORM: TAKING CRYPTOCURRENCIES TRADING TO THE NEXT LEVEL!

ENCRYBIT PLATFORM: TAKING CRYPTOCURRENCIES TRADING TO THE NEXT LEVEL!
https://preview.redd.it/eexoxpa89m121.jpg?width=1285&format=pjpg&auto=webp&s=f56e4cefb2216de43dc6a5a40c140a4606387b6c

INTRODUCTION

Blockchains and cryptocurrencies were envisioned as community-oriented open-source initiatives where the participants want to have the opportunity to make useful suggestions for the way forward of cryptocurrency exchanges and blockchain at large. This has held true with the exception of dev teams that still have a significant say in the project. Often times blockchains have a leader that everyone believes in and follows, limiting the effects of the members to take part in its management when it comes to exchanges, however, it is not that big of a deal, but ENCRYBIT is a revolution that has come to stay for the betterment of the ecosystem. ENCRYBIT was born out of a shared vision to develop a more efficient global financial system.
https://preview.redd.it/j9ygqvmc9m121.jpg?width=780&format=pjpg&auto=webp&s=2ed895da2f833760e9c1e6378c523e444eb2e29a

The flexibility of trading in multiple cryptocurrencies where traders have say on the entire system is what interests the team members to have come up with this great idea of ENCRYBIT, but they were fed up with the inefficiencies of decentralized exchanges where users of the platform has no or little contribution to the development and progress of the platform, this led the Research team at ENCRYBIT to had conducted an online survey across many crypto traders around the world to know and be ascertain on what need urgent improvement where exchanges are concerned in this blockchain ecosystem. This means team isn’t taking decisions on their own, but traders are carried along in the development of ENCRYBIT cryptocurrency trading platform.
Its all about a modern cryptocurrency exchange, designed considering what community have asked in our recent survey and traders review.
The research team at Encrybit did very well to carry out survey which is viewed as the best way to gather opinions from traders from all over the world by conducting an online survey and below is the result gotten from the surveys that were carried out:
The security concern is still quite spread between the traders, it's quite obvious since the major hacks and scams happened in regards of exchanges, the fear of losing your funds is always there when you keep them on a trading platform. Participants responses and opinions in diagram;
https://preview.redd.it/t06kwiyf9m121.jpg?width=766&format=pjpg&auto=webp&s=39a3b656fc4dd92628d6150cebf88506a9251395

Encrybit can assure traders that its platform will do its best to prevent those consequences.
In the context of this article, Encrybit being an “All You Need, All in One Page” means that Encrybit and its platform want to solve those issues, trying to give users all the tools they need, all in one single page when you need them and extremely easy to use, no switching tabs and no need of third-party platforms. It doesn't matter you're trading for fun or for work, all the trader categories will be given the chance to trade in a more relaxed and engaging way.
https://preview.redd.it/6hgm3bih9m121.jpg?width=724&format=pjpg&auto=webp&s=4c39b39bc38d14bfc9dec9296a115a7dcd99035c

Encrybit will provide general security to users in the following ways:
Two Factor Authentication Wallet Address Whitelisting Withdrawal Authentication Device Authentication IP Whitelisting Multi Signature Wallet Anti-Phishing Aler
Encrybit is backed up by M-Connect Solutions, a software development agency established in the year 2009. It is a software development company having expertise in banking and trading software. It has specific clients (trading software development companies) from Germany, USA, and India. They know the ins-outs of the forex exchange functionalities. They've technology, qualified resources (In-house), and experience to support the development and working of a revolutionary cryptocurrency exchange.

ROADMAP

By definition, Roadmap is a plan or strategy intended to achieve a particular goal. That is to say the ENCRYBIT Roadmap is step-by-step means by which the mission of the project is to be fully achieved.
Below is a pictorial representation of the ENCRYBIT Roadmap:
https://preview.redd.it/0vixyq9m9m121.jpg?width=936&format=pjpg&auto=webp&s=12c0a4b8ea07ae495ca5d7c5b73a56db25da934b
https://preview.redd.it/eh3miuin9m121.jpg?width=951&format=pjpg&auto=webp&s=6486737df7f240e53cded5b0acf57094a84b5934
https://preview.redd.it/selifh7p9m121.jpg?width=855&format=pjpg&auto=webp&s=64b6680f48f4dc4521eaa9438accaa356251eea0

https://preview.redd.it/s1y3hzur9m121.jpg?width=873&format=pjpg&auto=webp&s=aaf17840b70a5c0df7546d824fbd0adedecfb491
The Encrybit project has very ambitious plans to conquer the market. Don't miss your chance to be a part of this project!
Get connected anytime with the Project using the links below for more information, updates and participation:
WEBSITE: https://encrybit.io/
WHITEPAPER: https://encrybit.io/pdf/encrybit-wp-v1.pdf
LITEPAPER: https://encrybit.io/pdf/litepaper.pdf
TWITTER: https://twitter.com/enbofficial
FACEBOOK: https://www.facebook.com/encrybitofficial/

WRITER'S DETAILS
BitcoinTalk Username: cryptoblezin
BitcoinTalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=2178561;sa=summary
ETH Address: 0xC89b8Dd7e3E137DB108575EeAe301E52b6C72d9F
submitted by blessingsdrop to ICOAnalysis [link] [comments]

CoinCasso Blockchain Academy – the basics of cryptocurrency trading!

CoinCasso Blockchain Academy – the basics of cryptocurrency trading!

Cryptocurrency trading is one of the top 5 ways to make money in the crypto world. In this article, we would like to present some basic definitions related to trading which can introduce you to making money this way, available on CoinCasso Exchange 1.0 (with a very low fee: 0.25%).

What is cryptocurrency trading?

It is simply the exchange of cryptocurrencies. It works similar to Forex trading – you can buy or sell a cryptocurrency for another cryptocurrency or FIAT currency like EUR or USD. On CoinCasso exchange, there are available following trading pairs: BTC / EUR, BCH / BTC, DASH / BTC, ETC / BTC, ETH / BTC, LTC / BTC, BCH / EUR, DASH / EUR, ETC / EUR, ETH / EUR, LTC / EUR. In its most basic form, trading is based on buying for a lower price and selling for a higher price.

What is day trading?

It is a process of buying and selling an asset (for example cryptocurrencies) in a short period of time. You speculate on the value of a cryptocurrency with a hope that its price will increase (after you bought it) or decrease (after you sold it). In simple words – buy low, sell high! The short-term nature of day trading means that it is the opposite of hodling (check out our article Cryptocurrency for Dummies to understand the definition).

What is leverage trading?

A so-called leverage trading (or margin trading) involves borrowing funds and investing more than your actual capital. For example, a 4:1 leverage means that you place trades 4 times bigger than your starting amount of money – the loan is usually taken from a broker (in case of cryptocurrencies, from a cryptocurrency exchange). The higher the leverage, the bigger possible profit, but also the greater chance that you will lose money. For example, you have 1 BTC and a price of BTC at the time you trade is equal to 3000 USD. You predict that the price will go up and you trade with 10:1 leverage. The price indeed goes up to 4000 USD (33% increase), therefore, from the total 10 BTC capital reaches 13,3 BTC. Your profit is calculated as: 13,3 BTC – 9 BTC (the amount borrowed from cryptocurrency exchange), so it is 4,3 BTC minus fees. It sounds so easy, doesn’t it? The thing is that if the price goes down by a certain amount set by cryptocurrency exchange, you lose your entire 1 BTC! This price is called a liquid price. The higher the leverage, the higher the liquid price is.

What is money and risk management?

Money and risk management is the way you manage your investment money. According to the basic strategy of trading, in a single trade, you should never invest more than 5% of your capital. It is better to focus on small, safe profits rather than risky “one-time” scores. One of the strategies in risk and money management is setting stop losses and limit orders (check the definitions below).
Beta0x danilhadiwinata123
submitted by danilhadiwinata to u/danilhadiwinata [link] [comments]

CoinCasso Blockchain Academy

What is cryptocurrency trading?

It is simply the exchange of cryptocurrencies. It works similar to Forex trading – you can buy or sell a cryptocurrency for another cryptocurrency or FIAT currency like EUR or USD. On CoinCasso exchange, there are available following trading pairs: BTC / EUR, BCH / BTC, DASH / BTC, ETC / BTC, ETH / BTC, LTC / BTC, BCH / EUR, DASH / EUR, ETC / EUR, ETH / EUR, LTC / EUR. In its most basic form, trading is based on buying for a lower price and selling for a higher price.

What is day trading?

It is a process of buying and selling an asset (for example cryptocurrencies) in a short period of time. You speculate on the value of a cryptocurrency with a hope that its price will increase (after you bought it) or decrease (after you sold it). In simple words – buy low, sell high! The short-term nature of day trading means that it is the opposite of hodling (check out our article Cryptocurrency for Dummies to understand the definition).

What is leverage trading?

A so-called leverage trading (or margin trading) involves borrowing funds and investing more than your actual capital. For example, a 4:1 leverage means that you place trades 4 times bigger than your starting amount of money – the loan is usually taken from a broker (in case of cryptocurrencies, from a cryptocurrency exchange). The higher the leverage, the bigger possible profit, but also the greater chance that you will lose money. For example, you have 1 BTC and a price of BTC at the time you trade is equal to 3000 USD. You predict that the price will go up and you trade with 10:1 leverage. The price indeed goes up to 4000 USD (33% increase), therefore, from the total 10 BTC capital reaches 13,3 BTC. Your profit is calculated as: 13,3 BTC – 9 BTC (the amount borrowed from cryptocurrency exchange), so it is 4,3 BTC minus fees. It sounds so easy, doesn’t it? The thing is that if the price goes down by a certain amount set by cryptocurrency exchange, you lose your entire 1 BTC! This price is called a liquid price. The higher the leverage, the higher the liquid price is.

What is money and risk management?

Money and risk management is the way you manage your investment money. According to the basic strategy of trading, in a single trade, you should never invest more than 5% of your capital. It is better to focus on small, safe profits rather than risky “one-time” scores. One of the strategies in risk and money management is setting stop losses and limit orders (check the definitions below).
Beta0x danilhadiwinata123
submitted by danilhadiwinata to u/danilhadiwinata [link] [comments]

GENERAL OVERVIEW OF BORSER ICO PROJECT

GENERAL OVERVIEW OF BORSER ICO PROJECT

https://preview.redd.it/z3jf451x7nw21.png?width=1024&format=png&auto=webp&s=f284e14c1eec575c5b3d19adc7018f09b9f0b790

GENERAL REVEIW

Börser іѕ а cryptographic money maintained bу offers оf Börser S.A. Börser іѕ thе consequence оf united framework exhibiting, capital markets, crowdfunding, аnd cryptographic forms оf money together, thеѕе offer thе watchful business person оr monetary authority thе opportunity tо exploit а market worth wеll оvеr $1 trillion.

Thе Current Issues

Wе nоw hаvе conditions whеrе mаnу trap crypto stages аrе generally ordinary, аnd thе majority оf crypto money related authorities аrе worried, unsophisticated theorists wіthоut thе data оf hоw tо interpret thе trap crypto adventures frоm thе authentic ones.A nonattendance оf rule іn thе market аnd exchanges hаѕ іn lіkе manner mаdе а condition whеrе thеrе іѕ nо trust substance tо endorse thе substantial number оf nеw digital currency based thіngѕ thаt аrе entering thе business focus оnсе реr day.Trusted аnd definite information diverts thаt саn fill іn аѕ considerable wellsprings оf educational аnd enlightening substance fоr thе unsophisticated, retail money related experts аrе missing, higher withdrawal charges, аnd ѕо fоrth аrе distinctive issues vаrіоuѕ crypto fans аnd blockchain customers аrе bу аnd bу gоіng uр against.High trade charge аftеr а viable trading іѕ аnоthеr test оn thе cryptographic money exchanges, thе nonappearance оf security, liquidity, аnd ѕо on.
Whаt іѕ thе lаѕt item? Vаrіоuѕ digital currency vendors hаvе lost аrе uр ’til nоw losing money іn thе crypto feature.
https://preview.redd.it/zvy46bxx7nw21.jpg?width=733&format=pjpg&auto=webp&s=9dc6ffa7ae487606d80e8257a4df7fe2be0eba55

THE ARRANGEMENT OFFERED BY BORSER

Börser іѕ thе holding association whісh offers іtѕ customers thе empowering opportunities tо tаkе аn interest іn thrее раrtісulаr exercises (associations). Thеѕе аrе isolated аnd elucidated underneath:

Mi Money Road

Thіѕ assignment оf Börser mаkеѕ а distinguishing strength оf giving bеѕt quality monetary organizations rесеntlу held fоr genuine associations, tо thе lіttlе examiner. Mi Money Road gоеѕ аbоut аѕ accomplice adventure focus point, giving lіttlе examiners accomplice display оf fiscal organizations earlier held јuѕt fоr genuine associations аnd monetary pros. In order tо diminish costs аnd affirmation thе majority оf thе budgetary master clients approach adjusted quality trading signals, forex, аnd stock business аnd mоrеоvеr administered records, Börser moved Mi Money Road tоwаrd а framework publicizing foundation style organization.

CrowdingFunds:

Börser gіvеѕ а blockchain-based crowdfunding stage fоr money related experts whеrеvеr аll thrоugh thе world. Crowding funds іѕ thе fіrѕt crowdfunding stage gеttіng а handle оn exercises frоm whеrеvеr аll thrоugh thе world bу uѕіng thе beginning coin offering (ICOs) sponsoring strategy. Wіth crowdfunding, Börser kерt аn eye оn thе issue оf crowdfunding stages simply modifying associations іnѕіdе thеіr region bу relying uроn blockchain advancement. Business visionaries wоuld nоw hаvе thе capacity tо mаkе thеіr оwn оnе оf а kind token uѕіng thе selective cryptographic money аnd dispatch ICOs tо potential theorists uѕіng Börser’s stage.

X-Change:

Thе exchange empowers clients tо perfectly move Börser’s cryptographic money іntо fiat money fоr аn іn reality lоw charge. Börser hаѕ watched оut fоr thе repayment issue bу pushing X-Change whісh саn support smooth, rіght аnd cost-capable exchange bеtwееn fiat money аnd Börser’s cryptographic money. Wіth X-Change, уоu wіll іn аll probability mаkе а virtual wallet аnd association іt tо а plastic tо trade cash effectively аnd tо nо detriment. Börser conjointly offers modified coordination tо X-Change whісh recommends thаt bу making ICOs оn thе Börser’s stage, уоu саn еvеn hаvе уоur tokens thuѕ intertwined іntо X-Change.

Börser offers а huge extent оf opportunities tо business visionaries аnd theorists whеrеvеr аll thrоugh thе world. All trades wіthіn іtѕ 3 associations аrе dead wіth thе hеlр оf Börser’s digital currency: bу requiring thе usage оf іt fоr еvеrу nеw ICO уоu create аnd еvеrу hypothesis уоu tаkе аn interest in, Börser wіll guarantee thе relentless growing worth оf іtѕ cryptographic money, making reliability аnd dealing wіth thе issue оf thе erratic crypto promote.
Thе astounding аnd indisputable model оf Börser engages іt tо mаkе а system thаt wіll grasp Börser’s digital money ensuring іtѕ unending improvement аnd gathering fаr аnd wide.
Inѕtеаd оf giving inadequate responses fоr individual issues, thе thought uѕеd аt Börser grasped аn unprecedented, immense picture approach. Bу making а holding association аnd а digital money, Börser hopes tо misuse thе crypto impact јuѕt аѕ offer а broad, straightforward reply answer fоr аn entire display оf existing issues, related wіth nеw organizations, financial markets аnd mоrеоvеr thе crypto space itself. Börser іѕ а holding association, bеfоrе long holding ideas tо thrее separate affiliations, еvеrу single giving response fоr significant cash related issues.

Börser Official Resources :

Website : https://borser.c
Whitepaper: https://borser.cdocs/whitepaper.pdf
Bouty0x ID : Sakaleyn
submitted by ceydakaraelma to ico [link] [comments]

Take a look at the Javvy platform

Javvy plans to disrupt the crypto forex industry via the usage of supplying a advanced opportunity to traditional net-primarily based definitely crypto exchanges and wallets. By building a complete, at ease, and intuitive crypto wallet with purchase, promote, convert, and Management abilities, Javvy pursuits to supply the appropriate solution with a completely unique platform that gives an multi functional wallet, availability on windows, linux, mac, ios and android apps, availability in all nations with big language help, presenting ICO/STO Support via supplying accreditation offerings for STO contributors and via providing Whitelisting/KYC/AML for ICO/STO individuals.
Javvy is a cozy, complete crypto pockets with a constructed in decentralized crypto exchange aggregator solution, at the way to useful resource all expected operations for all important crypto currencies and tokens. Javvy will earn sales from the tried-and-real method of prices on buy/promote transactions, conversion expenses, KYC /AML / Accreditation verification services, international debit card fees, and service provider settlement prices. And the combination of a properly designed crypto change with a secure, intuitive and characteristic-wealthy crypto wallet and a succesful group is what units the Javvy crypto solution apart. Javvy will earn revenue from the tried-and-true technique of expenses on purchase/promote transactions, conversion expenses, KYC/AML/Accreditation verification services, global debit card charges, and provider issuer agreement costs.
Javvy is aiming to make their exchanges even better by way of building an easy, intuitive, characteristic-rich and completely-realistic cryptocurrency pockets. The Javvy crew has the specialized expertise and enjoy required to assemble the quality crypto wallet for every body. I will implore all to try and put money into this superb platform
Whitepaper: https://javvy.com/wp-content/uploads/2017/09/javvy_crypto-solution-white-paper.pdf
Bounty0x Username: dapero
submitted by olumildy to ICOAnalysis [link] [comments]

Take a look at the Javvy platform

Javvy plans to disrupt the crypto forex industry via the usage of supplying a advanced opportunity to traditional net-primarily based definitely crypto exchanges and wallets. By building a complete, at ease, and intuitive crypto wallet with purchase, promote, convert, and Management abilities, Javvy pursuits to supply the appropriate solution with a completely unique platform that gives an multi functional wallet, availability on windows, linux, mac, ios and android apps, availability in all nations with big language help, presenting ICO/STO Support via supplying accreditation offerings for STO contributors and via providing Whitelisting/KYC/AML for ICO/STO individuals.
Javvy is a cozy, complete crypto pockets with a constructed in decentralized crypto exchange aggregator solution, at the way to useful resource all expected operations for all important crypto currencies and tokens. Javvy will earn sales from the tried-and-real method of prices on buy/promote transactions, conversion expenses, KYC /AML / Accreditation verification services, international debit card fees, and service provider settlement prices. And the combination of a properly designed crypto change with a secure, intuitive and characteristic-wealthy crypto wallet and a succesful group is what units the Javvy crypto solution apart. Javvy will earn revenue from the tried-and-true technique of expenses on purchase/promote transactions, conversion expenses, KYC/AML/Accreditation verification services, global debit card charges, and provider issuer agreement costs.
Javvy is aiming to make their exchanges even better by way of building an easy, intuitive, characteristic-rich and completely-realistic cryptocurrency pockets. The Javvy crew has the specialized expertise and enjoy required to assemble the quality crypto wallet for every body. I will implore all to try and put money into this superb platform
Whitepaper: https://javvy.com/wp-content/uploads/2017/09/javvy_crypto-solution-white-paper.pdf
Bounty0x Username: dapero
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Investing Basics: Forex - YouTube Lesson 1 - What is Forex and how does It work? - YouTube 4 Forex terminology — learn the most basics terms - YouTube What Is Forex? SIMPLIFIED - YouTube The Beginners Guide to Forex trading - Part 1 - YouTube Structure Based Trading ( episode 1 ) - YouTube How to Kill Forex like a Pro !!! - YouTube Live Trading the Market makers method Qu'est-ce que le Price action? - YouTube Lesson 10: All about margin and leverage in forex trading ...

Candlestick Definition. The candlestick’s shadows show the day’s high and low and how they compare to the open and close. A candlestick’s shape varies based on the relationship between the day’s high, low, opening and closing prices. Forex Factory Forex traders use VPS to host trading platforms and run expert advisors without unexpected interruptions. See the list of Forex VPS providers. VSA (Volume Spread Analysis) A chart analysis method that focuses on the trading volume and the price range. Advertisements: >> Get FREE Signals & Exclusive Trading Recommendations from our Top Experts >> Please, disable AdBlock extension in your ... Forex (FX) is the market where currencies are traded and is a portmanteau of "foreign" and "exchange." Forex also refers to the currencies traded there. Trading Scalping Strategy Definition and PDF, all in one is available at JD forex Broker. If you want to learn in-depth Trading Scalping Strategy then read this. FOREX refers to the Foreign Currency Exchange Market in which over 4,600 International Banks and millions of small and large speculators participate worldwide. Every day this worldwide market exchanges more than $1.7 trillion in dozens of different currencies. With the current growth rate the market is projected to grow to more than $1.9 trillion per day by the year 2006. With such volume, one ... If you’re a beginner in the Forex market, chances are you’ve stumbled upon an article or forum post that include terms such as “pips”, “cross-pairs”, “margin” and others.. Those are basic terms of the Forex market that all traders need to know. We’ve created a list of the most important Forex trading terminology to help get you started in the market. Forex-Spot: Beim Spot Forex haben wir mit einem physischen Austausch der Währungen zu tun, der zu einem genau bestimmten Zeitpunkt, nachdem der Trade ausgeführt wurde, stattfindet – d.h. ‘on the spot’ (sofort) – oder innerhalb eines kurzen Zeitraumes danach; Forex-Forward: Bei einer Transaktion am Forward Devisenmarkt kaufen oder verkaufen Sie einen bestimmten Währungsbetrag zu ... Today, we will show you the 4 professional trading strategies PDF that most professional forex traders use. Download professional trading strategies PDF. The definition of scalping trading strategy. Speaking of scalping strategy, it allows traders to gain profits during periods of price changes. It is a fact that traders need to conform to a strict strategy if they do not want to lose their ... Guide du forex.pdf gratuit. Les premiers pas dans le domaine de la bourse en ligne n’est jamais une chose facile. Pour cette raison, il faut prendre assez de temps pour le recueil d’informations. Dans le but d’aider les traders, les plateformes spécialisées proposent plusieurs sortes de guide. Généralement, celui-ci se présente sous forme de document de plusieurs pages en fichier ... PDF Welcome to our blog on forex trading for beginners, written for individuals who desire to explore the currency markets and develop a secondary... Find, read and cite all the research you ...

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Investing Basics: Forex - YouTube

This is the first video in The Beginners Guide to Forex trading. This Forex trading series is great for new traders and beginners. Part 1 of this Forex trading ... Subscribe: http://bit.ly/SubscribeTDAmeritrade Every day, trillions of dollars are traded on the forex market, which influences other asset classes. To get a... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Secret Tip To Detecting Trend Changes As Early As Possible In Forex - Duration: 21:27. Forex Reviews 766,726 views #Priceaction #Price #Action #Trading Si vous voulez tout savoir sur le price action, cette vidéo est faite pour vous! Le price action définit l'analyse des m... Know your forex terms Before we delve any deeper into the possibilities that exist in the Forex market, we need to go over some basic Forex market terms. Pip... Learn to trade. Get more information about IG US by visiting their website: https://www.ig.com/us/future-of-forex Get my trading strategies here: https://www.robbooker.com C... Join our FB Group through our page: https://www.facebook.com/FXGOAT/ FX GOAT FOREX TRADING ACADEMY Instagram: fxgoat_ https://instagram.com/fxgoat_?igshid=jd... EAP Training Course - https://goo.gl/5cP1Z5 50%OFF-Advanced Pattern Mastery Course https://advancedpatternmasterycourse.com/overviewEAP - http://www.thetradi...

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