What is Leverage in Crypto Trading? (A Simple Explanation

#Learningmondays CRYPTO GLOSSARY Margin trading accounts are used to create leveraged trading It increases your risk of loss in trading due to high leverage position in the market

#Learningmondays CRYPTO GLOSSARY Margin trading accounts are used to create leveraged trading It increases your risk of loss in trading due to high leverage position in the market submitted by digitalticks to u/digitalticks [link] [comments]

Pukkamex(PUX) is a crypto derivative high leverage trading platform that shares its revenue. AIRDROP, sign up for 50 PUX. You will also get a share of 1,000,000 PUX and will be entered in a raffle with big prizes(Audi A6, 5K in BTC, 25K in PUX, etc):

Pukkamex(PUX) is a crypto derivative high leverage trading platform that shares its revenue. AIRDROP, sign up for 50 PUX. You will also get a share of 1,000,000 PUX and will be entered in a raffle with big prizes(Audi A6, 5K in BTC, 25K in PUX, etc): submitted by CoolCryptoDrops to cryptoAirdrops [link] [comments]

Pukkamex(PUX) is a crypto derivative high leverage trading platform that shares its revenue. AIRDROP, sign up for 50 PUX. You will also get a share of 1,000,000 PUX and will be entered in a raffle with big prizes(Audi A6, 5K in BTC, 25K in PUX, etc), takes 20 sec to join:

Pukkamex(PUX) is a crypto derivative high leverage trading platform that shares its revenue. AIRDROP, sign up for 50 PUX. You will also get a share of 1,000,000 PUX and will be entered in a raffle with big prizes(Audi A6, 5K in BTC, 25K in PUX, etc), takes 20 sec to join: submitted by CoolCryptoDrops to airdrops [link] [comments]

Pukkamex(PUX) is a crypto derivative high leverage trading platform that shares its revenue. AIRDROP, sign up for 50 PUX. You will also get a share of 1,000,000 PUX and will be entered in a raffle with big prizes(Audi A6, 5K in BTC, 25K in PUX, etc), takes 20 sec to join:

Pukkamex(PUX) is a crypto derivative high leverage trading platform that shares its revenue. AIRDROP, sign up for 50 PUX. You will also get a share of 1,000,000 PUX and will be entered in a raffle with big prizes(Audi A6, 5K in BTC, 25K in PUX, etc), takes 20 sec to join: submitted by CoolCryptoDrops to CryptoAirdrop [link] [comments]

Pukkamex(PUX) is a crypto derivative high leverage trading platform that shares its revenue. AIRDROP, sign up for 50 PUX. You will also get a share of 1,000,000 PUX and will be entered in a raffle with big prizes(Audi A6, 5K in BTC, 25K in PUX, etc), takes 20 sec to join:

Pukkamex(PUX) is a crypto derivative high leverage trading platform that shares its revenue. AIRDROP, sign up for 50 PUX. You will also get a share of 1,000,000 PUX and will be entered in a raffle with big prizes(Audi A6, 5K in BTC, 25K in PUX, etc), takes 20 sec to join: submitted by CoolCryptoDrops to Crypto_Airdrops [link] [comments]

Pukkamex(PUX) is a crypto derivative high leverage trading platform that shares its revenue. AIRDROP, sign up for 50 PUX. You will also get a share of 1,000,000 PUX and will be entered in a raffle with big prizes(Audi A6, 5K in BTC, 25K in PUX, etc):

Pukkamex(PUX) is a crypto derivative high leverage trading platform that shares its revenue. AIRDROP, sign up for 50 PUX. You will also get a share of 1,000,000 PUX and will be entered in a raffle with big prizes(Audi A6, 5K in BTC, 25K in PUX, etc): submitted by CoolCryptoDrops to cryptogiveaways [link] [comments]

Pukkamex(PUX) is a crypto derivative high leverage trading platform that shares its revenue. AIRDROP, sign up for 50 PUX. You will also get a share of 1,000,000 PUX and will be entered in a raffle with big prizes(Audi A6, 5K in BTC, 25K in PUX, etc), takes 20 sec to join:

Pukkamex(PUX) is a crypto derivative high leverage trading platform that shares its revenue. AIRDROP, sign up for 50 PUX. You will also get a share of 1,000,000 PUX and will be entered in a raffle with big prizes(Audi A6, 5K in BTC, 25K in PUX, etc), takes 20 sec to join: submitted by CoolCryptoDrops to airdropalerts [link] [comments]

Unhedged Bitcoin mining companies play a high stakes game, akin to leveraged trading. Last August, Bitmain was repo… https://t.co/Yi1d7tPOrr - Crypto Insider Info - Whales's

Posted at: December 25, 2018 at 07:13PM
By:
Unhedged Bitcoin mining companies play a high stakes game, akin to leveraged trading. Last August, Bitmain was repo… https://t.co/Yi1d7tPOrr
Automate your Trading via Crypto Bot : http://bit.ly/2GynF9t
Join Telegram Channel for FREE Crypto Bot: Crypto Signal
submitted by cryptotradingbot to cryptobots [link] [comments]

What can I do as minor to help myself when I’m legally allowed to trade?

I can’t trade right now yet so I can’t learn from experience. What can I do in order to have an advantage when I am allowed to trade?
submitted by stevenvdh to Daytrading [link] [comments]

[Daily Discussion] Wednesday, March 04, 2020

Thread topics include, but are not limited to:
Thread guidelines:
Other ways to interact:
submitted by AutoModerator to BitcoinMarkets [link] [comments]

Former investment bank FX trader: Risk management part 3/3

Former investment bank FX trader: Risk management part 3/3
Welcome to the third and final part of this chapter.
Thank you all for the 100s of comments and upvotes - maybe this post will take us above 1,000 for this topic!
Keep any feedback or questions coming in the replies below.
Before you read this note, please start with Part I and then Part II so it hangs together and makes sense.
Part III
  • Squeezes and other risks
  • Market positioning
  • Bet correlation
  • Crap trades, timeouts and monthly limits

Squeezes and other risks

We are going to cover three common risks that traders face: events; squeezes, asymmetric bets.

Events

Economic releases can cause large short-term volatility. The most famous is Non Farm Payrolls, which is the most widely watched measure of US employment levels and affects the price of many instruments.On an NFP announcement currencies like EURUSD might jump (or drop) 100 pips no problem.
This is fine and there are trading strategies that one may employ around this but the key thing is to be aware of these releases.You can find economic calendars all over the internet - including on this site - and you need only check if there are any major releases each day or week.
For example, if you are trading off some intraday chart and scalping a few pips here and there it would be highly sensible to go into a known data release flat as it is pure coin-toss and not the reason for your trading. It only takes five minutes each day to plan for the day ahead so do not get caught out by this. Many retail traders get stopped out on such events when price volatility is at its peak.

Squeezes

Short squeezes bring a lot of danger and perhaps some opportunity.
The story of VW and Porsche is the best short squeeze ever. Throughout these articles we've used FX examples wherever possible but in this one instance the concept (which is also highly relevant in FX) is best illustrated with an historical lesson from a different asset class.
A short squeeze is when a participant ends up in a short position they are forced to cover. Especially when the rest of the market knows that this participant can be bullied into stopping out at terrible levels, provided the market can briefly drive the price into their pain zone.

There's a reason for the car, don't worry
Hedge funds had been shorting VW stock. However the amount of VW stock available to buy in the open market was actually quite limited. The local government owned a chunk and Porsche itself had bought and locked away around 30%. Neither of these would sell to the hedge-funds so a good amount of the stock was un-buyable at any price.
If you sell or short a stock you must be prepared to buy it back to go flat at some point.
To cut a long story short, Porsche bought a lot of call options on VW stock. These options gave them the right to purchase VW stock from banks at slightly above market price.
Eventually the banks who had sold these options realised there was no VW stock to go out and buy since the German government wouldn’t sell its allocation and Porsche wouldn’t either. If Porsche called in the options the banks were in trouble.
Porsche called in the options which forced the shorts to buy stock - at whatever price they could get it.
The price squeezed higher as those that were short got massively squeezed and stopped out. For one brief moment in 2008, VW was the world’s most valuable company. Shorts were burned hard.

Incredible event
Porsche apparently made $11.5 billion on the trade. The BBC described Porsche as “a hedge fund with a carmaker attached.”
If this all seems exotic then know that the same thing happens in FX all the time. If everyone in the market is talking about a key level in EURUSD being 1.2050 then you can bet the market will try to push through 1.2050 just to take out any short stops at that level. Whether it then rallies higher or fails and trades back lower is a different matter entirely.
This brings us on to the matter of crowded trades. We will look at positioning in more detail in the next section. Crowded trades are dangerous for PNL. If everyone believes EURUSD is going down and has already sold EURUSD then you run the risk of a short squeeze.
For additional selling to take place you need a very good reason for people to add to their position whereas a move in the other direction could force mass buying to cover their shorts.
A trading mentor when I worked at the investment bank once advised me:
Always think about which move would cause the maximum people the maximum pain. That move is precisely what you should be watching out for at all times.

Asymmetric losses

Also known as picking up pennies in front of a steamroller. This risk has caught out many a retail trader. Sometimes it is referred to as a "negative skew" strategy.
Ideally what you are looking for is asymmetric risk trade set-ups: that is where the downside is clearly defined and smaller than the upside. What you want to avoid is the opposite.
A famous example of this going wrong was the Swiss National Bank de-peg in 2012.
The Swiss National Bank had said they would defend the price of EURCHF so that it did not go below 1.2. Many people believed it could never go below 1.2 due to this. Many retail traders therefore opted for a strategy that some describe as ‘picking up pennies in front of a steam-roller’.
They would would buy EURCHF above the peg level and hope for a tiny rally of several pips before selling them back and keep doing this repeatedly. Often they were highly leveraged at 100:1 so that they could amplify the profit of the tiny 5-10 pip rally.
Then this happened.

Something that changed FX markets forever
The SNB suddenly did the unthinkable. They stopped defending the price. CHF jumped and so EURCHF (the number of CHF per 1 EUR) dropped to new lows very fast. Clearly, this trade had horrific risk : reward asymmetry: you risked 30% to make 0.05%.
Other strategies like naively selling options have the same result. You win a small amount of money each day and then spectacularly blow up at some point down the line.

Market positioning

We have talked about short squeezes. But how do you know what the market position is? And should you care?
Let’s start with the first. You should definitely care.
Let’s imagine the entire market is exceptionally long EURUSD and positioning reaches extreme levels. This makes EURUSD very vulnerable.
To keep the price going higher EURUSD needs to attract fresh buy orders. If everyone is already long and has no room to add, what can incentivise people to keep buying? The news flow might be good. They may believe EURUSD goes higher. But they have already bought and have their maximum position on.
On the flip side, if there’s an unexpected event and EURUSD gaps lower you will have the entire market trying to exit the position at the same time. Like a herd of cows running through a single doorway. Messy.
We are going to look at this in more detail in a later chapter, where we discuss ‘carry’ trades. For now this TRYJPY chart might provide some idea of what a rush to the exits of a crowded position looks like.

A carry trade position clear-out in action
Knowing if the market is currently at extreme levels of long or short can therefore be helpful.
The CFTC makes available a weekly report, which details the overall positions of speculative traders “Non Commercial Traders” in some of the major futures products. This includes futures tied to deliverable FX pairs such as EURUSD as well as products such as gold. The report is called “CFTC Commitments of Traders” ("COT").
This is a great benchmark. It is far more representative of the overall market than the proprietary ones offered by retail brokers as it covers a far larger cross-section of the institutional market.
Generally market participants will not pay a lot of attention to commercial hedgers, which are also detailed in the report. This data is worth tracking but these folks are simply hedging real-world transactions rather than speculating so their activity is far less revealing and far more noisy.
You can find the data online for free and download it directly here.

Raw format is kinda hard to work with

However, many websites will chart this for you free of charge and you may find it more convenient to look at it that way. Just google “CFTC positioning charts”.

But you can easily get visualisations
You can visually spot extreme positioning. It is extremely powerful.
Bear in mind the reports come out Friday afternoon US time and the report is a snapshot up to the prior Tuesday. That means it is a lagged report - by the time it is released it is a few days out of date. For longer term trades where you hold positions for weeks this is of course still pretty helpful information.
As well as the absolute level (is the speculative market net long or short) you can also use this to pick up on changes in positioning.
For example if bad news comes out how much does the net short increase? If good news comes out, the market may remain net short but how much did they buy back?
A lot of traders ask themselves “Does the market have this trade on?” The positioning data is a good method for answering this. It provides a good finger on the pulse of the wider market sentiment and activity.
For example you might say: “There was lots of noise about the good employment numbers in the US. However, there wasn’t actually a lot of position change on the back of it. Maybe everyone who wants to buy already has. What would happen now if bad news came out?”
In general traders will be wary of entering a crowded position because it will be hard to attract additional buyers or sellers and there could be an aggressive exit.
If you want to enter a trade that is showing extreme levels of positioning you must think carefully about this dynamic.

Bet correlation

Retail traders often drastically underestimate how correlated their bets are.
Through bitter experience, I have learned that a mistake in position correlation is the root of some of the most serious problems in trading. If you have eight highly correlated positions, then you are really trading one position that is eight times as large.
Bruce Kovner of hedge fund, Caxton Associates
For example, if you are trading a bunch of pairs against the USD you will end up with a simply huge USD exposure. A single USD-trigger can ruin all your bets. Your ideal scenario — and it isn’t always possible — would be to have a highly diversified portfolio of bets that do not move in tandem.
Look at this chart. Inverted USD index (DXY) is green. AUDUSD is orange. EURUSD is blue.

Chart from TradingView
So the whole thing is just one big USD trade! If you are long AUDUSD, long EURUSD, and short DXY you have three anti USD bets that are all likely to work or fail together.
The more diversified your portfolio of bets are, the more risk you can take on each.
There’s a really good video, explaining the benefits of diversification from Ray Dalio.
A systematic fund with access to an investable universe of 10,000 instruments has more opportunity to make a better risk-adjusted return than a trader who only focuses on three symbols. Diversification really is the closest thing to a free lunch in finance.
But let’s be pragmatic and realistic. Human retail traders don’t have capacity to run even one hundred bets at a time. More realistic would be an average of 2-3 trades on simultaneously. So what can be done?
For example:
  • You might diversify across time horizons by having a mix of short-term and long-term trades.
  • You might diversify across asset classes - trading some FX but also crypto and equities.
  • You might diversify your trade generation approach so you are not relying on the same indicators or drivers on each trade.
  • You might diversify your exposure to the market regime by having some trades that assume a trend will continue (momentum) and some that assume we will be range-bound (carry).
And so on. Basically you want to scan your portfolio of trades and make sure you are not putting all your eggs in one basket. If some trades underperform others will perform - assuming the bets are not correlated - and that way you can ensure your overall portfolio takes less risk per unit of return.
The key thing is to start thinking about a portfolio of bets and what each new trade offers to your existing portfolio of risk. Will it diversify or amplify a current exposure?

Crap trades, timeouts and monthly limits

One common mistake is to get bored and restless and put on crap trades. This just means trades in which you have low conviction.
It is perfectly fine not to trade. If you feel like you do not understand the market at a particular point, simply choose not to trade.
Flat is a position.
Do not waste your bullets on rubbish trades. Only enter a trade when you have carefully considered it from all angles and feel good about the risk. This will make it far easier to hold onto the trade if it moves against you at any point. You actually believe in it.
Equally, you need to set monthly limits. A standard limit might be a 10% account balance stop per month. At that point you close all your positions immediately and stop trading till next month.

Be strict with yourself and walk away
Let’s assume you started the year with $100k and made 5% in January so enter Feb with $105k balance. Your stop is therefore 10% of $105k or $10.5k . If your account balance dips to $94.5k ($105k-$10.5k) then you stop yourself out and don’t resume trading till March the first.
Having monthly calendar breaks is nice for another reason. Say you made a load of money in January. You don’t want to start February feeling you are up 5% or it is too tempting to avoid trading all month and protect the existing win. Each month and each year should feel like a clean slate and an independent period.
Everyone has trading slumps. It is perfectly normal. It will definitely happen to you at some stage. The trick is to take a break and refocus. Conserve your capital by not trading a lot whilst you are on a losing streak. This period will be much harder for you emotionally and you’ll end up making suboptimal decisions. An enforced break will help you see the bigger picture.
Put in place a process before you start trading and then it’ll be easy to follow and will feel much less emotional. Remember: the market doesn’t care if you win or lose, it is nothing personal.
When your head has cooled and you feel calm you return the next month and begin the task of building back your account balance.

That's a wrap on risk management

Thanks for taking time to read this three-part chapter on risk management. I hope you enjoyed it. Do comment in the replies if you have any questions or feedback.
Remember: the most important part of trading is not making money. It is not losing money. Always start with that principle. I hope these three notes have provided some food for thought on how you might approach risk management and are of practical use to you when trading. Avoiding mistakes is not a sexy tagline but it is an effective and reliable way to improve results.
Next up I will be writing about an exciting topic I think many traders should look at rather differently: news trading. Please follow on here to receive notifications and the broad outline is below.
News Trading Part I
  • Introduction
  • Why use the economic calendar
  • Reading the economic calendar
  • Knowing what's priced in
  • Surveys
  • Interest rates
  • First order thinking vs second order thinking
News Trading Part II
  • Preparing for quantitative and qualitative releases
  • Data surprise index
  • Using recent events to predict future reactions
  • Buy the rumour, sell the fact
  • The mysterious 'position trim' effect
  • Reversals
  • Some key FX releases
***

Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
submitted by getmrmarket to Forex [link] [comments]

Reverse engineering algorithm

Hey,
I'm wondering if it is possible (and with what effort) to reverse engineer an algorithm based on an extensive trading history.
A buddy of mine bought access to a trading bot / strategy (crypto trading) and it has been very very successful the last few months. The bot is basically trading crypto futures on binances with high leverage (20x-50x) but very small amounts. It usually has around 30 positions open longing and shorting various cryptos. As we have the complete trading history with all orders (filled or not), it should in theory be possible to reverse engineer the algorithm at least if it's not too complicated.
As far as we know it's using the same indicators for all trading pairs so we actually have a lot of data.
Other than doing it by hand or just feeding it into ML, do you guys know ways or techniques to do this in a reasonable amount of time?
submitted by T0Bii to algotrading [link] [comments]

TRADE OF THE DAY: NVIDIA ($NVDA) Vertical Spread 415/417.5 CALL 28AUG [07/28/20]

Begun, The Dollarpocalypse Has . . .

Pre-Market Summary
Two headlines grabbed my attention yesterday:

Gold price hits record high on new fears for the economy

Dollar index slides to 2-year low

I can't help but suspect this is a zeitgeist moment; will these serve as a weathervane for what's to come?
S&P futures and European stocks slumped as market optimism faded during the busiest week of earnings season while Gold was hammered moments after the December future hit an all time high of $2000 following a record-breaking rally, with spot gold tanking more than $30 in minutes and silver dropping as much as 2% before regaining composure.
Gold hit a record high on Tuesday before the sheer scale of its gains drew a burst of profit-taking, with the volatility prompting the Shanghai Gold Exchange to issue a notice on risk prevention and express a willingness to take action if required. The dump in gold also helped the dollar rebound from two-year lows.
After rising almost $40 higher at one point to reach $1,980 an ounce, gold was hit by a wave of selling which it pushed back to $1,915 in volatile trade. Gold is still up over $125 in little more than a week as investors bet the Federal Reserve will reaffirm its accommodating policies at its meeting this week, and perhaps signal a tolerance for higher inflation in the long run.
"Fed officials have made clear that they will be making their forward guidance more dovish and outcome-based soon," wrote analysts at TD Securities. “The chairman is likely to continue the process of prepping markets for changes when he speaks at his press conference.” One shift could be to average inflation targeting, which would see the Fed aim to push inflation above its 2% target to make up for years of under-shooting.

Top Overnight News

Trade Of The Day
The game of musical chairs continues with large-cap tech stocks; eventually the music will stop playing and no seats will be found before prices drop, but until that event occurs, most of the market gains are coming from this sector.
Today's Trade of the Day comes via NVDA who does not report earnings until August 13th. It's set up in a flag formation with a lot of potential energy, ready to break. And as we've seen lately, stocks are breaking BEFORE their earnings date.
Here are two potential plays:
  1. What makes trading NVDA a challenge, like every other big-cap tech stock, is the price of $415/share. If you don't define a stop loss, then buying just ONE share at $415 represents the maximum 2% account risk for a $21k account! This is where fractional shares can come to the rescue for small accounts. I can define a fixed dollar amount in Robinhood (or other brokers supporting fractional shares) and they will create a fractional share position equivalent to my investment. For example, if I wanted to create a $40 NVDA position, then Robinhood would grant me .096 shares of NVDA.
  2. Alternatively, I could still leverage the gains/losses of a 100-share NVDA position by trading a vertical options spread using the 28AUG option series, going long the $415 call and simultaneously selling the $417.5 call as "insurance." This trade allows me to cap my risk at $125/contract, which would represent a max 2% risk to a $6250 account.
Disclaimer — This is a trade idea meant to help anyone learning options or looking for outside opinion, not an instruction manual for what to do with your money. You are the only one responsible for your portfolio.
Check out /tradeoftheday to submit your own daily trades & talk more about stocks / options / crypto / spacs / everything else trading! See you there!
Cheers and beers,
ReadySetTrade
submitted by ready-set-trade to options [link] [comments]

Just Bought The Dip - Here's Why I Did It.

Nexo offers, what I believe to be, a fantastic offering of products and services. They also have a profitable business model, and have demonstrated that they show every intention of remaining in business for the long term. Being in the business of lending depreciating fiat garbage by leveraging appreciating: gold, digital gold (BTC), and other well vetted & high market cap digital assets; serving as hard-money-collateral makes fantastic business sense. Coming from Credissimo; we have every reason to believe that the NEXO team has both the experience,skillset, and vision to execute sustainable operation in a competitive business landscape.
I expect that this next year, they will be Significantly More Profitable than all previous years, and that the coming months will bring amazing buying opportunities for the NEXO token. Here's why:
NEXO has been up until this point, and will remain in a "growth phase" yet for some time. They have attracted an impressive amount of users (~300k users or close to? ). Specifically and recently, NEXO upgraded their platform to close a "loophole" (if you want to call it that) which allowed for a user to be both earning interest on an asset & simultaneously use it as collateral. This is by no means illegal/ unethical (for a similar and related financial product that functions this way, look up "infinite banking concept - Nelson Nash"). It is, however, a much less profitable business process than only allowing customers to earn interest on non-collateralized assets. It shouldn't be necessary to explain this at any greater length. This update came in lock step with the differentiation between the "Credit Line Wallet" and the "Savings Wallet".
This platform update, coupled with the steady increase in active users which will inevitably arrive in this bull phase, will result in a truly massive dividend for NEXO next year.
Moon Boys - this message is for you. NEXO's tokenomics make this an awful moonshot token. Out of all my HODLings, this is my least sexy token. By Far. It is, however, among my most valued. As, personaly, I do not (yet) feel comfortable performing the complex Austrian Economic gymnastics that I do feel comfortable doing in my use of NEXO. What makes NEXO great is not the token, it is the platform. And the token is a pure HODL. If you are day trading NEXO coins. You're NEXOing wrong. It's really that simple. The token is an affordable means of unlocking a more powerful platform for current and future use. I, for one, have no intention of regressing back to brick and mortar finance. I will continue to dollar cost into crypto, and manage my own destiny. My plan, hope, and belief is that NEXO will serve as a valuable platform for my personal bkockchain operations for years to come. Among an array of other platforms I use to digitally manage my, assets, degree, and cash flow.
Some understand this. Others Do Not. I would love to read your thoughts.
submitted by daddyyboyy to Nexo [link] [comments]

New milestone: 2000 investors

New milestone: 2000 investors

https://bithub.network/
It seems like only yesterday we celebrated our first 1000 active investors, and today we've crossed another important threshold: two thousand! Once again, we are grateful and humbled. Thank you!
Why are so many investors joining BitHub Network – and so fast? It's simple: we offer the most accessible, safe and profitable investment opportunities in the crypto market. We have a superb team, sophisticated risk scoring strategies, and our own liquidity pools. We never risk our investors' money in high-leverage trading schemes, wash-trading, pump-and-dumps, or market manipulations of any kind.
BitHub investors know all this and trust in our integrity. Go to https://bithub.network/ and check out our 8 investment plans with rates starting from 2.3% a day!
Join the 2000 satisfied investors who are already earning with BitHub Network!
submitted by Bithub_Network to u/Bithub_Network [link] [comments]

The uprasing of a BEAST - DXDAO and Gnosis Protocol - MAKER DAO Killer - DEFI 2.0

dxDAO - the First Crypto Exchange Run by a DAO

Marcet cap: 1.3 MLN Token handle: $DXD Circulation supply: 23 695 / 123 224 Team: Great members of Loopring, Kleros, Gnosis, Ethereum DXdao powered Dapps: Mix.eth / Omen.eth / Mesa.eth - revenue from Dapps goes to DXD holders.
DXdao is a decentralized community that develops, governs, and grows DeFi protocols and products. Its initial members were seeded through a 1 month process where over $20M in ETH and other tokens were staked and 400+ addresses received Reputation.
Since then, DXdao has been advancing critical DeFi infrastructure like Mesa.eth, a recently launched frontend to the Gnosis Protocol, and Omen.eth, a soon-to-launch prediction market platform.
The DXdao is also involved in developing Mix.eth, governing DMM, and maintaining the DutchX trading protocol. In order to bootstrap these efforts and broaden its stakeholder base, the DXdao recently voted to launch a public OpenRaise campaign.

Let’s go deeper in what that means.

Starting with Gnosis Protocol: Gnosis Protocol is built in the spirit of permissionless innovation. Its fully decentralized architecture means you don’t need to trust us at Gnosis to build on our protocol. Not only can anyone list tokens or build integrations, Gnosis Protocol's order settlement process does not rely on any operator.
Here you can learn more about the protocol and everything you need to start building. Start with the introduction, use cases, or a deep dive into the contracts.
Gnosis Protocol is a fully permissionless DEX, which has been in research and development over the course of the last two years.
Gnosis Protocol enables ring trades to maximize liquidity. Ring trades are order settlements which share liquidity across all orders, rather than a single token pair, and uniquely suited for trading prediction market tokens and the long tail of all tokenized assets.
Gnosis GitHub Page: https://github.com/gnosis
As you can see there is a lot of development going on which includes:
And many other developments…

Which leads us to DXDao products:

MIX.ETH Mix.finance/Mix.eth - A portfolio tracker with privacy and security as its core.
The goal of Mix is to deliver a portfolio manager for the Ethereum ecosystem with privacy, security and a good user experience as a core feature. With the emergence of DeFi 2, decentralised autonomous organisation frameworks (Aragon, 4 Daostack 2) and privacy enabling technologies (zk-SNARKs 3) we can finally deliver a next level wallet interface/portfolio manager.
Deeper dive into Mix.ETH: https://daotalk.org/t/mix-eth-seeking-feedback-on-proposal/1183
MESA.ET Mesa is an Open Source interface for the Gnosis Protocol, a fully permissionless DEX that enables ring trades to maximize liquidity.
Deeper dive into Mix.ETH: https://mesa.eth.link/
OMEN Omen is a fully decentralized prediction market platform built on top of the Gnosis conditional token framework. Slated to launch in the coming weeks, Omen will allow anyone to create a prediction market- be it in the realm of crypto, sports, politics, entertainment, etc.- and stake funds on a particular outcome.
“People can and will continue to disagree about important topics — that is natural and important — but prediction markets force them to acknowledge the current consensus and whether their input is persuasive.” — Flip Incoming, “The Case for Prediction Markets”
Generally, if you look at the cryptocurrency market, people buy and sell crypto based on their prediction of its future value. Prediction markets (also known as information markets, idea futures, event derivatives, decision markets, etc.) allow people to buy and sell outcomes of events. Because people are staking their funds in these markets, the truth becomes its own profit-bearing asset. Prediction markets can serve as aggregators of superior knowledge, where the market share price adjusts to new information and reflects the probability of future outcomes. Omen facilitates all of this on-chain through Gnosis’ conditional token framework.
Deeper dive into Omen: https://daotalk.org/t/omen-mvp-overview/1229https://medium.com/bitfwd/omen-dxdaos-new-flagship-product-4976be96d312

TEAM: That’s part is getting really interesting since we need to start with beginning what DAO really is.

DAO is a Decentralized Autonomous Organization (DAO), sometimes labeled a decentralized autonomous corporation (DAC), is an organization represented by rules encoded as a computer program that is transparent, controlled by shareholders and not influenced by a central government.
The dxDAO is a community-governed DAO which means they don't really have a team since it's a community driven project.
The dxDAO is a community-governed DAO with total control over the DutchX trading protocol.
Watch this explainer video how DutchX operates: https://www.youtube.com/watch?v=_TBVXT6XIe0
The dxDAO is not a Gnosis DAO. Gnosis is not part of the dxDAO. Although the technical development of the dxDAO is a project of Gnosis Limited with the support of DAOstack based on DAOstack’s Framework, the contribution of the Companies was limited to providing the technical basis for the dxDAO, including its one month initialisation phase, which ran from 29 May to 28 June 2019. Gnosis Limited did not participate in the initial voting rights’ distribution in the dxDAO.
This readthedocs document aims to make it easier for interested third parties to understand the DutchX and dxDAO data as critical infrastructure of the Ethereum blockchain ecosystem.
If you want to get deeper dive about this project check out link section in the bottom of article.

Market overview:

Maker (MKR) is a utility token, governance token and recapitalization resource of the Maker system.
Maker [MKR] is a token based on Ethereum blockchain. The most actual price for one Maker [MKR] is $552.43. Maker is listed on 33 exchanges with a sum of 65 active markets. The 24h volume of [MKR] is $20 738 227, while the Maker market cap is $555 507 722 which ranks it as #24 of all cryptocurrencies.
MKR Rank: 28 Marketcap: $494,696,419 Available Supply: 892,170 Max Supply: 1,005,576 USD: $554.8300 BTC: 0.05846718₿ ETH: 2.37206300Ξ
24h Low & High $529.50| $590.08

Comparing it to DXD:

DXD Rank: 582 Marketcap: $1,633,652 Available Supply: 23,697 Max Supply: 123,226 USD: $68.9400 BTC: 0.00726726₿ ETH: 0.29483887Ξ
24h Low & High $55.88| $74.16

Other #DEFI Partners:

The DeFi Money Market (DMM) provides a trust-minimized, transparent, and permissionless environment on the Ethereum blockchain that empowers users across the world to once again earn a positive yield through digital assets backed by a basket of interest-generating real-world assets brought on-chain into the DeFi space. DMM operates as an ecosystem where real-asset owners can tap Ethereum digital asset owners for funding, which also allows digital asset lenders to gain exposure to uncorrelated passive income. This enables real world asset owners to engage in collateralized borrowing at more competitive rates with a global permissionless reach. In the DMM Ecosystem, both the off-chain assets backing mTokens and the interest revenue generated from these assets are overcollateralized, thus protecting depositors.
Being backed by real world assets also means DMM mTokens can offer users a much more stable and reliable ROI on their deposited funds (currently DAI, USDC, ETH) at a stable 6.25% APY. This is in contrast to many other on-chain money markets which offer variable interest rates driven by cryptocurrency leverage traders. Transparency into the off-chain assets backing mTokens and their valuations can be found on-chain and on the DMM Explorer. Additionally, our collaboration and usage of Chainlink’s decentralized oracles adds an extra layer of security and trust to the ecosystem by writing essential data on-chain that details the ecosystem’s valuation and total active collateralization.
Website: https://defimoneymarket.com/
DMM DAO Partnership with DXDao
“DMM has and will continue to work with the DXdao, a DeFi-focused DAO, in crafting the structure and overall governance of the DMM DAO to utilize and implement best practices in DAO governance. The DXdao was granted a 2% allocation of DMG tokens, and is composed of over 400 stakeholders that control Ethereum protocols and related assets, a treasury of Ether and tokens, and oversees multiple different DeFi projects including Mix.eth, Omen.eth, and Mesa.eth.
Through the governance structure we have laid out above, it is our goal that the DMG governance token and community DAO will enable DMM to become a highly decentralized protocol removing any single point of failure. We anticipate that changes and fine-tuning to this structure will be required and we are open to any and all feedback you may have as DMM is a community driven project first and foremost.
By enabling permissionless access to a stable yield backed by revenue generating real world assets, we envision a world where your geolocation makes no difference to the ability to secure your financial freedom or grow your business.”
Source: https://medium.com/dmm-dao/defi-money-market-dmm-dmg-governance-token-491c9a62c6bf

TLDR

To put it in perspective/ This is your golden ticket to join DEFI wagon with uprising od DXDdao and Gnosis Protocol. 30% of MKR market cap will place DXD token at value of 6262 USD PER 1DXD.
BUY IT AND HODL IT.
Can’t do all detective work but remember I’m the person who called MFG from the bottom. I know my game.

For further questions regarding DXdao’s campaign visit websites:

DXdao.eth https://twitter.com/Dxdao_https://t.me/dxDAOhttps://twitter.com/Ingalandia
Sources: https://medium.com/bitfwd/distributed-capital-formation-with-openraise-3af9a601ad63 https://docs.gnosis.io/protocol/ https://en.wikipedia.org/wiki/Decentralized_autonomous_organization
This article is for informational purposes only. Please seek independent legal and financial advice in your jurisdiction before making any investment decisions.
submitted by jud4sh to CryptoMoonShots [link] [comments]

What is the point of Futures contracts for retail traders?

I'm an options guy - hey, to each their own. Since I'm in the process of writing a series of posts on the route less travelled on options trading, I felt it would be best to get this first out of the way.
When I first came across futures contracts on stocks, it didn't make any sense to me. Futures contracts behave in exactly the same way as the underlying asset with the added complication of having exposure to interest rates (typically, you can ignore this detail - this detail becomes relevant if you want to add options to the mix, especially so with currency derivatives).
The one reason I heard of at that time (this was in 2004) - 'You get a lot of leverage with Futures!'. Sure, but this wasn't a big difference; I typically had to put down about 17% as upfront margin. IMO, this wasn't a good enough reason as this translated to a margin of 5.9x - heck, depending upon the stock, Sharekhan gave me a margin of up to 10x on even delivery trades (again, this was in 2004). If someone wanted to trade intraday, do it with stocks, why futures?
It took me a while to get the point. When one wanted to profit off a rise in an asset's value - buy the stock, let it rise, sell - rinse and repeat.
How do you profit off an asset's depreciation? You could short-sell the stock; but you had to close the position at the end of the day as there was no mechanism to borrow stocks in Indian markets. Any drop in the asset's value that happens overnight or over the weekend is beyond reach.
Entre futures contracts. These things allow someone to keep the position open for an entire month. If you had inside information of the mess that was going on at Yes Bank, short-selling the stock was a horrible way of capitalising on it, opening a short position via futures contracts was the way to do it: you can squeeze the full extent of the drop, with leverage on top of it.
Now, that little detail about exposure to interest rates being baked into the contracts, I'll get to that in the next post.
When Bitcoin was at an all time high of around $20,000 per BTC, all the Wall St banks were in a rush to offer futures contracts on bitcoin. I told everyone who was willing to listen that this was the beginning of the fall. If Bitcoin was only going to rise, why would a bank offer a product to their customers on which the bank only stands to lose money. It only made sense for the banks to sell futures on BTC if it were to crash and burn, in which case the banks stand to make a killing on these contracts.
And the banks made a killing when the crypto market crashed and burned. Nobody seemed to notice that the banks only sold BTC futures, none of them took on a short position on BTC if their customer wanted to short a BTC futures contract.
If there were no derivatives on crypto, while everyone involved stood to gain from it rising, it was in no one's interest for the asset class to crash and burn. Now, people can profit off a drop in BTC valuation.
submitted by circuit_brain to IndianStreetBets [link] [comments]

What are the use cases for borrowing besides trading/speculation

I get that defi is hot right now and there is a ton of value being locked into these lending/borrowing protocols, but with loans needing to be collateralized more than 100% and most at 150%, what is the use case for borrowers outside of trading/speculative leverage? You aren’t going to buy a car or house by borrowing Dai or usdc from compound because the rate is variable and can become too high. You aren’t going to stake eth in maker to generate dai for the same reason. I get that Aave has fixed rate lending so maybe there is a case where you want access to your crypto value to make a real world purchase and want to retain your exposure to the asset, but that seems like a very small niche since the vast majority of the world doesn’t have crypto exposure.
What is the real world use case that is going to drive the average Joe to defi? Can someone explain? Because right now it looks like a hype fest with everyone borrowing more and more to lock into platforms to farm governance tokens and push the Total Value locked up higher to pump defi.
Let me also say I understand the value of maker and generating stable coins giving unbanked access to usd denominated assets. I’m more talking about the lending/borrowing protocols.
submitted by Jaketheparrot to defi [link] [comments]

Here is how to play the altcoin game - for newbies & champs

I have been here for many previous altcoin seasons (2013,2017 etc) and wanted to share knowedle. It's a LOOONG article.
The evaluation of altcoins (i.e not Bitcoin) is one of the most difficult and profitable exercises. Here I will outline my methodology and thinking but we have to take some things as a given. The first is that the whole market is going up or down with forces that we can't predict or control. Bitcoin is correlated with economic environments, money supply increases, safe havens such as Gold, hype and country regulations. This is an impossible mix to analyze and almost everyone fails at it. That's why you see people valuing Bitcoin from $100 to $500k frequently. Although I am bullish on the prospects of Bitcoin and decentralization and smart contract platforms, this is not the game I will be describing. I am talking about a game where you try to maximize your BTC holdings by investing in altcoins. We win this game even if we are at a loss in fiat currency value. To put it another way:
If you are not bullish in general on cryptocurrencies you have no place in investing or trading cryptocurrencies since it's always a losing proposition to trade in bubbles, a scientifically proven fact. If on the other hand you are then your goal is to grow your portfolio more than you would if holding BTC/ETH for example.

Bitcoin is the big boy

How the market works is not easily identifiable if you haven't graduated from the 2017 crypto university. When there is a bull market everything seems amazingly profitable and things keep going up outgrowing Bitcoin by orders of magnitude and you are a genius. The problem with this is that it only works while Bitcoin is going up a little bit or trades sideways. When it decides to move big then altcoins lose value both on the way up and on the way down. The second part is obvious and proven since all altcoins from 2017 are at a fraction of their BTC value (usually in the range of 80% or more down). Also, when BTC is making a big move upwards everyone exits altcoins to ride the wave. It is possible that the altcoin market behaves as an inversed leveraged ETF with leakage where in a certain period while Bitcoin starts at 10k and ends at 10k for example, altcoins have lost a lot of value because of the above things happening.

We are doing it anyway champ!

OK so we understand the risks and just wanna gambol with our money right? I get it. Why do that? Because finding the ideal scenario and period can be extremely profitable. In 2017 several altcoins went up 40x more than BTC. But again, if you don't chose wisely many of them have gone back to zero (the author has first hand experience in this!), they have been delisted and nobody remembers them. The actual mentality to have is very important and resembles poker and other speculative games:
A certain altcoin can go up in value indefinitely but can only lose it's starting investment. Think about it. You either lose 1 metric or gain many many more. Now that sounds amazing but firstly as we said we have the goal to outperform our benchmark (BTC) and secondly that going up in value a lot means that the probability is quite low. There is this notion of Expected Value (EV) that poker players apply in these kind of situations and it goes like that. If you think that a certain coin has a probability let's say 10% to go up 10X and 90% probability it goes to zero it's an even bet. If you think that probability is 11% then it's a good bet, a profitable bet and you should take it. You get the point right? It's not that it can only go 10X or 0X, there is a whole range of probability outcomes that are too mathematical to explain here and it doesn't help so much because nobody can do such analysis with altcoins. See below on how we can approximate it.

How to evaluate altcoins

A range of different things to take into account outlined below will form our decision making. Not a single one of them should dictate 100% of our strategy.

Basics

It's all about market cap. Repeat after me. The price of a coin doesn't mean anything. Say it 10 times until you believe it. I can't remember how many times I had conversations with people that were comparing coins using their coin price instead of their market cap. To make this easy to get.
If I decide because the sky is blue to make my coin supply 100 Trillion FoolCoins with a price of $0.001 and there is another WiseCoin with a supply of 100 Million and price of $1 then FoolCoins are more expensive. - Alex Fin's Cap Law

Fundamental analysis

This is done usually in the stock world and it means that each company has some fundamental value that includes it's assets, customers, growth prospects, sector prospects and leadership competence but mostly centered in financial measures such as P/E ratios etc. Valuation is a proper economic discipline by itself taught in universities. OK, now throw everything out of the window!.
This kind of analysis is impossible in vague concepts and innovations that are currently cryptocurrencies. Ethereum was frequently priced at the fictional price of gas when all financial systems on earth run on the platform after decades (a bit of exaggeration here). No project is currently profitable enough to justify a valuation multiple that is usually equal to P/E in the thousands or more. As such we need to take other things into account. What I do is included in the list below:

Relative valuation

One of my favorite ways to value altcoins that is based on the same principle in the stock market is to look at peers and decide what is the maximum cap it can grow to. As an example you take a second layer Ethereum solution that has an ICO and you want to decide if you will enter or not. You can take a look at other coins that are in the same business and compare their market caps. Thinking that your coin will outperform by a lot the top coins currently is overly optimistic so I usually take a lower valuation as a target price. If the initial offering is directly implying a valuation that is more than that then there is no room to grow according to my analysis and I skip it. Many times this has proven me wrong because it's a game theory problem where if many people think irrationally in a market it becomes a self-fulfilling prophecy. But since there is opportunity cost involved, in the long run, getting in initial offerings that have a lot of room to grow will pay off as a strategy.

Sector prospects

In 2017 the sexiest sector was platforms and then coins including privacy ones. Platforms are obviously still a highly rated sector because everything is being built on them, but privacy is not as hot as it used to be. In 2018 DEXes were all they hype but still people are massively using centralized exchanges. In 2020 Defi is the hottest sector and it includes platforms, oracles and Defi projects. What I am saying is that a project gets extra points if it's a Defi one in 2020 and minus points if it's a payment system that will conquer the world as it was in 2017 because that's old news. This is closely related to the next section.

Hype

Needless to say that the crypto market is a worse FOMO type of inexperienced trigger happy yolo investors , much worse than the Robinhood crowd that drove a bankrupt company's stock 1200% after they declared bankruptcy. The result is that there are numerous projects that are basically either vaporware or just so overhyped that their valuation has no connection to reality. Should we avoid those kind of projects? No and I will explain why. There are many very good technically projects that had zero hype potential due to incompetent marketing departments that made them tank. An example (without shilling because I sold out a while back) is Quantum Resistant Ledger. This project has amazing quantum resistant blockchain, the only one running now, has a platform that people can build tokens and messaging systems and other magnificent stuff. Just check how they fared up to now and you will get the point. A project *needs* to have a hype factor because you cannot judge it as normal stocks that you can do value investing like Warren Buffet does where a company will inevitable post sales and profitability numbers and investors will get dividends. Actually the last sentence is the most important: No dividends. Even projects that give you tokens or coins as dividends are not real dividends because if the coin tanks the value of the dividend tanks. This is NOT the case with company stocks where you get dollars even if the company stock tanks. All that being said, I would advice against betting on projects that have a lot of hype but little substance (but that should be obvious!).

How to construct your portfolio

My strategy and philosophy in investing is that risk should be proportional to investment capital. That means that if you are investing 100K in the crypto market your portfolio should be very different than someone investing 1K because 10% annual gains are nothing in the latter while they are very significant in the former. Starting from this principle each individual needs to construct a portfolio according to how much risk he wants to take. I will emphasize two important concepts that play well with what I said. In the first instance of a big portfolio you should concentrate on this mantra: "Diversification is the only free meal in finance". In the case of a small portfolio then this mantra is more important: "Concentrate to create wealth, diversify to maintain wealth". Usually in a big portfolio you would want to hold some big coins such as BTC and ETH to weather the ups and downs explained in previous paragraphs while generating profits and keep progressively smaller parts of your portfolio for riskier investments. Maybe 50% of this portfolio could be big caps and 10% very risky initial offerings. Adapting risk progressively to smaller portfolios makes sense but I think it would be irrational to keep more than 30% of a portfolio no matter what tied to one coin due to the very high risk of bankruptcy.

Conclusion

The altseason is supposedly coming every 3 months. Truth is that nobody can predict it but altcoins can be profitable no matter what. Forget about maximalists who are stuck in their dogmas. Altcoins deliver different value propositions and it makes sense because we are very far from a situation where some project offers everything like Amazon and we wouldn't even want that in the first place since we are talking about decentralization and not a winner takes all and becomes a monster kind of scenario! Some last minute advice:
P.S If you find value in reading this and want more weekly consider subscribing to my newsletter here
submitted by aelaos1 to CryptoCurrency [link] [comments]

NVidia – Know What You Own

How many people really understand what they’re buying, especially when it comes to highly specialized hardware companies? Most NVidia investors seem to be relying on a vague idea of how the company should thrive “in the future”, as their GPUs are ostensibly used for Artificial Intelligence, Cloud, holograms, etc. Having been shocked by how this company is represented in the media, I decided to lay out how this business works, doing my part to fight for reality. With what’s been going on in markets, I don’t like my chances but here goes:
Let’s start with…
How does NVDA make money?
NVDA is in the business of semiconductor design. As a simplified image in your head, you can imagine this as designing very detailed and elaborate posters. Their engineers create circuit patterns for printing onto semiconductor wafers. NVDA then pays a semiconductor foundry (the printer – generally TSMC) to create chips with those patterns on them.
Simply put, NVDA’s profits represent the difference between the price at which they can sell those chips, less the cost of printing, and less the cost of paying their engineers to design them.
Notably, after the foundry prints the chips, NVDA also has to pay (I say pay, but really it is more like “sell at a discount to”) their “add-in board” (AIB) partners to stick the chips onto printed circuit boards (what you might imagine as green things with a bunch of capacitors on them). That leads to the final form in which buyers experience the GPU.
What is a GPU?
NVDA designs chips called GPUs (Graphical Processing Units). Initially, GPUs were used for the rapid processing and creation of images, but their use cases have expanded over time. You may be familiar with the CPU (Central Processing Unit). CPUs sit at the core of a computer system, doing most of the calculation, taking orders from the operating system (e.g. Windows, Linux), etc. AMD and Intel make CPUs. GPUs assist the CPU with certain tasks. You can think of the CPU as having a few giant very powerful engines. The GPU has a lot of small much less powerful engines. Sometimes you have to do a lot of really simple tasks that don’t require powerful engines to complete. Here, the act of engaging the powerful engines is a waste of time, as you end up spending most of your time revving them up and revving them down. In that scenario, it helps the CPU to hand that task over to the GPU in order to “accelerate” the completion of the task. The GPU only revs up a small engine for each task, and is able to rev up all the small engines simultaneously to knock out a large number of these simple tasks at the same time. Remember the GPU has lots of engines. The GPU also has an edge in interfacing a lot with memory but let’s not get too technical.
Who uses NVDA’s GPUs?
There are two main broad end markets for NVDA’s GPUs – Gaming and Professional. Let’s dig into each one:
The Gaming Market:
A Bit of Ancient History (Skip if impatient)
GPUs were first heavily used for gaming in arcades. They then made their way to consoles, and finally PCs. NVDA started out in the PC phase of GPU gaming usage. They weren’t the first company in the space, but they made several good moves that ultimately led to a very strong market position. Firstly, they focused on selling into OEMs – guys like the equivalent of today’s DELL/HP/Lenovo – , which allowed a small company to get access to a big market without having to create a lot of relationships. Secondly, they focused on the design aspect of the GPU, and relied on their Asian supply chain to print the chip, to package the chip and to install in on a printed circuit board – the Asian supply chain ended up being the best in semis. But the insight that really let NVDA dominate was noticing that some GPU manufacturers were focusing on keeping hardware-accelerated Transform and Lighting as a Professional GPU feature. As a start-up, with no professional GPU business to disrupt, NVidia decided their best ticket into the big leagues was blowing up the market by including this professional grade feature into their gaming product. It worked – and this was a real masterstroke – the visual and performance improvements were extraordinary. 3DFX, the initial leader in PC gaming GPUs, was vanquished, and importantly it happened when funding markets shut down with the tech bubble bursting and after 3DFX made some large ill-advised acquisitions. Consequently 3DFX, went from hero to zero, and NVDA bought them for a pittance out of bankruptcy, acquiring the best IP portfolio in the industry.
Some more Modern History
This is what NVDA’s pure gaming card revenue looks like over time – NVDA only really broke these out in 2005 (note by pure, this means ex-Tegra revenues):
📷 https://hyperinflation2020.tumblr.com/private/618394577731223552/tumblr_Ikb8g9Cu9sxh2ERno
So what is the history here? Well, back in the late 90s when GPUs were first invented, they were required to play any 3D game. As discussed in the early history above, NVDA landed a hit product to start with early and got a strong burst of growth: revenues of 160M in 1998 went to 1900M in 2002. But then NVDA ran into strong competition from ATI (later purchased and currently owned by AMD). While NVDA’s sales struggled to stay flat from 2002 to 2004, ATI’s doubled from 1Bn to 2Bn. NVDA’s next major win came in 2006, with the 8000 series. ATI was late with a competing product, and NVDA’s sales skyrocketed – as can be seen in the graph above. With ATI being acquired by AMD they were unfocused for some time, and NVDA was able to keep their lead for an extended period. Sales slowed in 2008/2009 but that was due to the GFC – people don’t buy expensive GPU hardware in recessions.
And then we got to 2010 and the tide changed. Growth in desktop PCs ended. Here is a chart from Statista:
📷https://hyperinflation2020.tumblr.com/private/618394674172919808/tumblr_OgCnNwTyqhMhAE9r9
This resulted in two negative secular trends for Nvidia. Firstly, with the decline in popularity of desktop PCs, growth in gaming GPUs faded as well (below is a chart from Jon Peddie). Note that NVDA sells discrete GPUs, aka DT (Desktop) Discrete. Integrated GPUs are mainly made by Intel (these sit on the motherboard or with the CPU).
📷 https://hyperinflation2020.tumblr.com/private/618394688079200256/tumblr_rTtKwOlHPIVUj8e7h
You can see from the chart above that discrete desktop GPU sales are fading faster than integrated GPU sales. This is the other secular trend hurting NVDA’s gaming business. Integrated GPUs are getting better and better, taking over a wider range of tasks that were previously the domain of the discrete GPU. Surprisingly, the most popular eSports game of recent times – Fortnite – only requires Intel HD 4000 graphics – an Integrated GPU from 2012!
So at this point you might go back to NVDA’s gaming sales, and ask the question: What happened in 2015? How is NVDA overcoming these secular trends?
The answer consists of a few parts.Firstly, AMD dropped the ball in 2015. As you can see in this chart, sourced from 3DCenter, AMD market share was halved in 2015, due to a particularly poor product line-up:
📷 https://hyperinflation2020.tumblr.com/private/618394753459994624/tumblr_J7vRw9y0QxMlfm6Xd
Following this, NVDA came out with Pascal in 2016 – a very powerful offering in the mid to high end part of the GPU market. At the same time, AMD was focusing on rebuilding and had no compelling mid or high end offerings. AMD mainly focused on maintaining scale in the very low end. Following that came 2017 and 2018: AMD’s offering was still very poor at the time, but cryptomining drove demand for GPUs to new levels, and AMD’s GPUs were more compelling from a price-performance standpoint for crypto mining initially, perversely leading to AMD gaining share. NVDA quickly remedied that by improving their drivers to better mine crypto, regaining their relative positioning, and profiting in a big way from the crypto boom. Supply that was calibrated to meet gaming demand collided with cryptomining demand and Average Selling Prices of GPUs shot through the roof. Cryptominers bought top of the line GPUs aggressively.
A good way to see changes in crypto demand for GPUs is the mining profitability of Ethereum:
📷 https://hyperinflation2020.tumblr.com/private/618394769378443264/tumblr_cmBtR9gm8T2NI9jmQ
This leads us to where we are today. 2019 saw gaming revenues drop for NVDA. Where are they likely to head?
The secular trends of falling desktop sales along with falling discrete GPU sales have reasserted themselves, as per the Jon Peddie research above. Cryptomining profitability has collapsed.
AMD has come out with a new architecture, NAVI, and the 5700XT – the first Iteration, competes effectively with NVDA in the mid-high end space on a price/performance basis. This is the first real competition from AMD since 2014.
NVDA can see all these trends, and they tried to respond. Firstly, with volumes clearly declining, and likely with a glut of second-hand GPUs that can make their way to gamers over time from the crypto space, NVDA decided to pursue a price over volume strategy. They released their most expensive set of GPUs by far in the latest Turing series. They added a new feature, Ray Tracing, by leveraging the Tensor Cores they had created for Professional uses, hoping to use that as justification for higher prices (more on this in the section on Professional GPUs). Unfortunately for NVDA, gamers have responded quite poorly to Ray Tracing – it caused performance issues, had poor support, poor adoption, and the visual improvements in most cases are not particularly noticeable or relevant.
The last recession led to gaming revenues falling 30%, despite NVDA being in a very strong position at the time vis-à-vis AMD – this time around their position is quickly slipping and it appears that the recession is going to be bigger. Additionally, the shift away from discrete GPUs in gaming continues.
To make matters worse for NVDA, AMD won the slots in both the New Xbox and the New PlayStation, coming out later this year. The performance of just the AMD GPU in those consoles looks to be competitive with NVidia products that currently retail for more than the entire console is likely to cost. Consider that usually you have to pair that NVidia GPU with a bunch of other expensive hardware. The pricing and margin impact of this console cycle on NVDA is likely to be very substantially negative.
It would be prudent to assume a greater than 30% fall in gaming revenues from the very elevated 2019 levels, with likely secular decline to follow.
The Professional Market:
A Bit of Ancient History (again, skip if impatient)
As it turns out, graphical accelerators were first used in the Professional market, long before they were employed for Gaming purposes. The big leader in the space was a company called Silicon Graphics, who sold workstations with custom silicon optimised for graphical processing. Their sales were only $25Mn in 1985, but by 1997 they were doing 3.6Bn in revenue – truly exponential growth. Unfortunately for them, from that point on, discrete GPUs took over, and their highly engineered, customised workstations looked exorbitantly expensive in comparison. Sales sank to 500mn by 2006 and, with no profits in sight, they ended up filing for bankruptcy in 2009. Competition is harsh in the semiconductor industry.
Initially, the Professional market centred on visualisation and design, but it has changed over time. There were a lot of players and lot of nuance, but I am going to focus on more recent times, as they are more relevant to NVidia.
Some More Modern History
NVDA’s Professional business started after its gaming business, but we don’t have revenue disclosures that show exactly when it became relevant. This is what we do have – going back to 2005:
📷 https://hyperinflation2020.tumblr.com/private/618394785029472256/tumblr_fEcYAzdstyh6tqIsI
In the beginning, Professional revenues were focused on the 3D visualisation end of the spectrum, with initial sales going into workstations that were edging out the customised builds made by Silicon Graphics. Fairly quickly, however, GPUs added more and more functionality and started to turn into general parallel data processors rather than being solely optimised towards graphical processing.
As this change took place, people in scientific computing noticed, and started using GPUs to accelerate scientific workloads that involve very parallel computation, such as matrix manipulation. This started at the workstation level, but by 2007 NVDA decided to make a new line-up of Tesla series cards specifically suited to scientific computing. The professional segment now have several points of focus:
  1. GPUs used in workstations for things such as CAD graphical processing (Quadro Line)
  2. GPUs used in workstations for computational workloads such as running engineering simulations (Quadro Line)
  3. GPUs used in workstations for machine learning applications (Quadro line.. but can use gaming cards as well for this)
  4. GPUs used by enterprise customers for high performance computing (such as modelling oil wells) (Tesla Line)
  5. GPUs used by enterprise customers for machine learning projects (Tesla Line)
  6. GPUs used by hyperscalers (mostly for machine learning projects) (Tesla Line)
In more recent times, given the expansion of the Tesla line, NVDA has broken up reporting into Professional Visualisation (Quadro Line) and Datacenter (Tesla Line). Here are the revenue splits since that reporting started:
📷 https://hyperinflation2020.tumblr.com/private/618394798232158208/tumblr_3AdufrCWUFwLgyQw2
📷 https://hyperinflation2020.tumblr.com/private/618394810632601600/tumblr_2jmajktuc0T78Juw7
It is worth stopping here and thinking about the huge increase in sales delivered by the Tesla line. The reason for this huge boom is the sudden increase in interest in numerical techniques for machine learning. Let’s go on a brief detour here to understand what machine learning is, because a lot of people want to hype it but not many want to tell you what it actually is. I have the misfortune of being very familiar with the industry, which prevented me from buying into the hype. Oops – sometimes it really sucks being educated.
What is Machine Learning?
At a very high level, machine learning is all about trying to get some sort of insight out of data. Most of the core techniques used in machine learning were developed a long time ago, in the 1950s and 1960s. The most common machine learning technique, which most people have heard of and may be vaguely familiar with, is called regression analysis. Regression analysis involves fitting a line through a bunch of datapoints. The most common type of regression analysis is called “Ordinary Least Squares” OLS regression, and that type of regression has a “closed form” solution, which means that there is a very simple calculation you can do to fit an OLS regression line to data.
As it happens, fitting a line through points is not only easy to do, it also tends to be the main machine learning technique that people want to use, because it is very intuitive. You can make good sense of what the data is telling you and can understand the machine learning model you are using. Obviously, regression analysis doesn’t require a GPU!
However, there is another consideration in machine learning: if you want to use a regression model, you still need a human to select the data that you want to fit the line through. Also, sometimes the relationship doesn’t look like a line, but rather it might look like a curve. In this case, you need a human to “transform” the data before you fit a line through it in order to make the relationship linear.
So people had another idea here: what if instead of getting a person to select the right data to analyse, and the right model to apply, you could just get a computer to do that? Of course the problem with that is that computers are really stupid. They have no preconceived notion of what data to use or what relationship would make sense, so what they do is TRY EVERYTHING! And everything involves trying a hell of a lot of stuff. And trying a hell of a lot of stuff, most of which is useless garbage, involves a huge amount of computation. People tried this for a while through to the 1980s, decided it was useless, and dropped it… until recently.
What changed? Well we have more data now, and we have a lot more computing power, so we figured lets have another go at it. As it happens, the premier technique for trying a hell of a lot of stuff (99.999% of which is garbage you throw away) is called “Deep Learning”. Deep learning is SUPER computationally intensive, and that computation happens to involve a lot of matrix multiplication. And guess what just happens to have been doing a lot of matrix multiplication? GPUs!
Here is a chart that, for obvious reasons, lines up extremely well with the boom in Tesla GPU sales:
📷 https://hyperinflation2020.tumblr.com/private/618394825774989312/tumblr_IZ3ayFDB0CsGdYVHW
Now we need to realise a few things here. Deep Learning is not some magic silver bullet. There are specific applications where it has proven very useful – primarily areas that have a very large number of very weak relationships between bits of data that sum up into strong relationships. An example of ones of those is Google Translate. On the other hand, in most analytical tasks, it is most useful to have an intuitive understanding of the data and to fit a simple and sensible model to it that is explainable. Deep learning models are not explainable in an intuitive manner. This is not only because they are complicated, but also because their scattershot technique of trying everything leaves a huge amount of garbage inside the model that cancels itself out when calculating the answer, but it is hard to see how it cancels itself out when stepping through it.
Given the quantum of hype on Deep learning and the space in general, many companies are using “Deep Learning”, “Machine Learning” and “AI” as marketing. Not many companies are actually generating significant amounts of tangible value from Deep Learning.
Back to the Competitive Picture
For the Tesla Segment
So NVDA happened to be in the right place at the right time to benefit from the Deep Learning hype. They happened to have a product ready to go and were able to charge a pretty penny for their product. But what happens as we proceed from here?
Firstly, it looks like the hype from Deep Learning has crested, which is not great from a future demand perspective. Not only that, but we really went from people having no GPUs, to people having GPUs. The next phase is people upgrading their old GPUs. It is much harder to sell an upgrade than to make the first sale.
Not only that, but GPUs are not the ideal manifestation of silicon for Deep Learning. NVDA themselves effectively admitted that with their latest iteration in the Datacentre, called Ampere. High Performance Computing, which was the initial use case for Tesla GPUs, was historically all about double precision floating point calculations (FP64). High precision calculations are required for simulations in aerospace/oil & gas/automotive.
NVDA basically sacrificed HPC and shifted further towards Deep Learning with Ampere, announced last Thursday. The FP64 performance of the A100 (the latest Ampere chip) increased a fairly pedestrian 24% from the V100, increasing from 7.8 to 9.7 TF. Not a surprise that NVDA lost El Capitan to AMD, given this shift away from a focus on HPC. Instead, NVDA jacked up their Tensor Cores (i.e. not the GPU cores) and focused very heavily on FP16 computation (a lot less precise than FP64). As it turns out, FP16 is precise enough for Deep Learning, and NVDA recognises that. The future industry standard is likely to be BFloat 16 – the format pioneered by Google, who lead in Deep Learning. Ampere now does 312 TF of BF16, which compares to the 420 TF of Google’s TPU V3 – Google’s Machine Learning specific processor. Not quite up to the 2018 board from Google, but getting better – if they cut out all of the Cuda cores and GPU functionality maybe they could get up to Google’s spec.
And indeed this is the problem for NVDA: when you make a GPU it has a large number of different use cases, and you provide a single product that meets all of these different use cases. That is a very hard thing to do, and explains why it has been difficult for competitors to muscle into the GPU space. On the other hand, when you are making a device that does one thing, such as deep learning, it is a much simpler thing to do. Google managed to do it with no GPU experience and is still ahead of NVDA. It is likely that Intel will be able to enter this space successfully, as they have widely signalled with the Xe.
There is of course the other large negative driver for Deep Learning, and that is the recession we are now in. Demand for GPU instances on Amazon has collapsed across the board, as evidenced by the fall in pricing. The below graph shows one example: this data is for renting out a single Tesla V100 GPU on AWS, which isthe typical thing to do in an early exploratory phase for a Deep Learning model:
📷 https://hyperinflation2020.tumblr.com/private/618396177958944768/tumblr_Q86inWdeCwgeakUvh
With Deep Learning not delivering near-term tangible results, it is the first thing being cut. On their most recent conference call, IBM noted weakness in their cognitive division (AI), and noted weaker sales of their power servers, which is the line that houses Enterprise GPU servers at IBM. Facebook cancelled their AI residencies for this year, and Google pushed theirs out. Even if NVDA can put in a good quarter due to their new product rollout (Ampere), the future is rapidly becoming a very stormy place.
For the Quadro segment
The Quadro segment has been a cash cow for a long time, generating dependable sales and solid margins. AMD just decided to rock the boat a bit. Sensing NVDA’s focus on Deep Learning, AMD seems to be focusing on HPC – the Radeon VII announced recently with a price point of $1899 takes aim at NVDAs most expensive Quadro, the GV100, priced at $8999. It does 6.5 TFLOPS of FP64 Double precision, whereas the GV100 does 7.4 – talk about shaking up a quiet segment.
Pulling things together
Let’s go back to what NVidia fundamentally does – paying their engineers to design chips, getting TSMC to print those chips, and getting board partners in Taiwan to turn them into the final product.
We have seen how a confluence of several pieces of extremely good fortune lined up to increase NVidia’s sales and profits tremendously: first on the Gaming side, weak competition from AMD until 2014, coupled with a great product in form of Pascal in 2016, followed by a huge crypto driven boom in 2017 and 2018, and on the Professional side, a sudden and unexpected increase in interest in Deep Learning driving Tesla demand from 2017-2019 sky high.
It is worth noting what these transient factors have done to margins. When unexpected good things happen to a chip company, sales go up a lot, but there are no costs associated with those sales. Strong demand means that you can sell each chip for a higher price, but no additional design work is required, and you still pay the printer, TSMC, the same amount of money. Consequently NVDA’s margins have gone up substantially: well above their 11.9% long term average to hit a peak of 33.2%, and more recently 26.5%:
📷 https://hyperinflation2020.tumblr.com/private/618396192166100992/tumblr_RiWaD0RLscq4midoP
The question is, what would be a sensible margin going forward? Obviously 33% operating margin would attract a wall of competition and get competed away, which is why they can only be temporary. However, NVidia has shifted to having a greater proportion of its sales coming from non-OEM, and has a greater proportion of its sales coming from Professional rather than gaming. As such, maybe one can be generous and say NVDA can earn an 18% average operating margin over the next cycle. We can sense check these margins, using Intel. Intel has a long term average EBIT margin of about 25%. Intel happens to actually print the chips as well, so they collect a bigger fraction of the final product that they sell. NVDA, since it only does the design aspect, can’t earn a higher EBIT margin than Intel on average over the long term.
Tesla sales have likely gone too far and will moderate from here – perhaps down to a still more than respectable $2bn per year. Gaming resumes the long-term slide in discrete GPUs, which will likely be replaced by integrated GPUs to a greater and greater extent over time. But let’s be generous and say it maintains $3.5 Bn Per year for the add in board, and let’s assume we keep getting $750mn odd of Nintendo Switch revenues(despite that product being past peak of cycle, with Nintendo themselves forecasting a sales decline). Let’s assume AMD struggles to make progress in Quadro, despite undercutting NVDA on price by 75%, with continued revenues at $1200. Add on the other 1.2Bn of Automotive, OEM and IP (I am not even counting the fact that car sales have collapsed and Automotive is likely to be down big), and we would end up with revenues of $8.65 Bn, at an average operating margin of 20% through the cycle that would have $1.75Bn of operating earnings power, and if I say that the recent Mellanox acquisition manages to earn enough to pay for all the interest on NVDAs debt, and I assume a tax rate of 15% we would have around $1.5Bn in Net income.
This company currently has a market capitalisation of $209 Bn. It blows my mind that it trades on 139x what I consider to be fairly generous earnings – earnings that NVidia never even got close to seeing before the confluence of good luck hit them. But what really stuns me is the fact that investors are actually willing to extrapolate this chain of unlikely and positive events into the future.
Shockingly, Intel has a market cap of 245Bn, only 40Bn more than NVDA, but Intel’s sales and profits are 7x higher. And while Intel is facing competition from AMD, it is much more likely to hold onto those sales and profits than NVDA is. These are absolutely stunning valuation disparities.
If I didn’t see NVDA’s price, and I started from first principles and tried to calculate a prudent price for the company I would have estimated a$1.5Bn normalised profit, maybe on a 20x multiple giving them the benefit of the doubt despite heading into a huge recession, and considering the fact that there is not much debt and the company is very well run. That would give you a market cap of $30Bn, and a share price of $49. And it is currently $339. Wow. Obviously I’m short here!
submitted by HyperInflation2020 to stocks [link] [comments]

Best Potential Moonshot Hands Down; TRUSTSWAP (SWAP) Full DeFi Suite, Simple P2P Trustless Escrow, and Great Tokenomics!

Trustswap https://www.coingecko.com/en/coins/trustswap
Okay guys I've spent the last two days learning about this token and I've come away very impressed. I think this token may be a serious contender for best performer this year. On the TrustSwap social platforms it feels like 2017. Here's some info about the company.
TrustSwap is a DeFi project created by the founder and CEO of Uptrennd Jeff Kirdeikis. Most notably he has the largest cryptocurrency investing group on Facebook, and he is what Tom was to MySpace but for Uptrennd. He host The Bitcoin and Crypto Podcast which is actually very good, and he has a massive following on Twitteother social. Better yet, this guy is a marketing genius like a less annoying Justin Sun. He has a pipeline of good news lined up and knows when and how to release that information on the masses. Everything he does seems meticulously thought through. He continually affirms his commitment to get SWAP listed on high volume exchanges with MXC yesterday, Hotbit today, and Houbi/Bitmax tomorrow he is actually succeeding. He is also very responsive and has team moderators standing by in the social media channels to field questions/vanquish FUD.
Here are the basics:
TrustSwap is building a DeFi ecosystem that will start out as a simple P2P trustless escrow and payment platform and evolve into a fully decentralized exchange (DEX) with leverage and futures options all offered via non-custodial smart contracts. They will also offer multi-chain token wrapping as a service and on-chain governance using the native ERC-20 token SWAP.
Imagine being able to wrap BTC, Monero, Digibyte, or any crypto and then trade it on uniswap, or have it interact with Ethereum compatible wallets, and applications.
Through this, you can move funds cross-chain without ever having to sign up to a Centralized Exchange, allowing you to never have to KYC, staying fully anonymous across exchanges.
Wrapping tokens also offers huge benefits to new blockchain projects that have their own chain, allowing them to save massively on listing fees, as well as instantly be connected to strong wallets and decentralized exchanges.
This puts the ability to trust back in the investor's hands and might spark a new ICO boom as new projects eager to establish credibility rush to use it. So yes beautiful wrapping everything layer 3 solution my brothren. And highly incentivised holding economics, for example rewarding users from fees collected from the DeFi network! And staking;
All fees paid to the platform will get split as follows:
80% goes back to holders as staking rewards
10% are burned forever (adding that value back to token holders)
10% goes to the dev fund which can be used as the community sees fit
This project has massive potential and is already building a strong community foundation with big moves coming soon as more exchanges and markets come on board. The staking and deflationary tokenomics make this a long term HODL for me.
Token Metrics:
Total Supply: 100,000,000 SWAP
Circulating Supply: 62,500,000 SWAP
Market Cap: $3.6 million
60,000,000 SWAP Initial liquidity offering on uniswap about two and half days ago, price dropped at like $0.035. Volume bottomed out and rising again (same with holder count).
20,000,000 Team Supply
20,000,000 Marketing, development, legal, bounties, OTC investors, airdrops.
LINKS:
Website: www.Trustswap.org
Discord: https://discord.gg/GNUrcK
Telegram: t.me/TrustSwap
Token address; https://etherscan.io/token/0xcc4304a31d09258b0029ea7fe63d032f52e44efe
Uniswap; https://app.uniswap.org/#/swap?inputCurrency=0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2&outputCurrency=0xcc4304a31d09258b0029ea7fe63d032f52e44efe
Extra nugget from Jeff on Discord; "@everyone
SwapLogo SWAP is listing on Hotbit this Monday! SwapLogo https://hotbit.zendesk.com/hc/en-us/articles/360051689713
This is the first step into TrustSwap's emergence in the Asian markets. We are going to be kicking off major marketing campaigns with an Asian marketing firm within the coming week to follow up this listing.
We also have a couple more Top-50 listings lined up for this week as well
When we had a vote to see which exchange you wanted to see SWAP listed on, Huobi was the winner by a massive margin, so we will be opening up the conversation with Huobi to get SWAP listed on there also in the near future."
DYOR!! Godspeed! I'll see you guys on the other side!
To address FUD about OTC investors dumping, yes they are dumping, it's my belief most weak hands have exited the market, they got in at $0.005 per SWAP.
submitted by Rational_Optimist to CryptoMoonShots [link] [comments]

An exchange platform that has a bright future

An exchange platform that has a bright future
Crypto trading is the full-time work of many people around the globe. Many people migrating from forex and stock trading to crypto trading because of its high return of investment. So for this increasing number of traffic, we need many platforms where they can trade with high efficiency and easily.
Nowadays news even pro traders are facing many difficulties when they are using an exchange platform. Sometimes new traders get lost in this big mess and can't decide what to do first. Because of their lack of knowledge, they lose their morale.
Good traders always build up their strategy and make a solid plan for their goals. They have the plan to enter and exit a trade in certain conditions but that is too complicated for new traders. Extons is the platform that can help in this demand. Extons can help you to concentrate on planning out your goal and execute them systematically.
Trade with Extons for more.
Efficient: With the most userfriendly UI and clean interface Extons can be used with much more efficiency than any other crypto exchange platform. A simple plan can be more effective than an over-analyzed and complicated plan. Extons helps their user to create a simple plan for trading and execute it effectively so that they can always be on the profitable side.

https://preview.redd.it/ozky4s9hxkj51.jpg?width=843&format=pjpg&auto=webp&s=925bd8d24e9d696840430e3f73d5e0313ace8020
Flexible: This platform is for ambitious investors. Extons will provide investors opportunities to finance any project they have. Users will be given a wide variety of trading features and tools to do execute and manage their trade. All these tools will help to leverage their assets to their full potential.

https://preview.redd.it/6u49vz7ixkj51.jpg?width=960&format=pjpg&auto=webp&s=7212aaea1942ebd77b96eb6a97d4fef4c9530b53
Variety: Extons exchange platform is now officially available and runs for business. More than 30 cryptocurrency pair is available for traders and more will be added in the future to give users the full potential of the crypto market. Extons is a product of the Thisoption ecosystem and willing to list new quality crypto coins around the world so that their users can get a variety of trading services.

https://preview.redd.it/glgkenbjxkj51.jpg?width=843&format=pjpg&auto=webp&s=7b4f7ba3ee552455ec174770fa23fda2dafde4fa
Stable: This platform is developed and built by a bunch of professional developers who is experts in their job. This platform can handle many transactions every second without any delay. It's fast a stable connection will give traders the best trading experience.
Safe: This option is a well-known company and it has millions of traders already. Every day more people joining the platform. For this wide range of users, multiple security levels have taken to protect their funds. They employ a Multitude of the process of verifying including 2-step authentication. This is a well known and one of the best tools to prevent any 3rd party access without users knowing.

https://preview.redd.it/yd90vt9kxkj51.jpg?width=843&format=pjpg&auto=webp&s=b35f804e47df8d884931a60bb25601b0dfc6c8b1
Why new project should choose Extons
It's very challenging to raise funds for a new project when there are already a lot of them running in the market. Thats why Extons can be the best place to find support and raise funding for your project on a global scale. One os the goal of the platform is to provide investors and business enthusiasts the best and most suitable solution when their business just getting started and need funding.

https://preview.redd.it/xpjym0jlxkj51.jpg?width=843&format=pjpg&auto=webp&s=a10834c809a2866a5771994949028fe00f3e9b4c
A wide range of traders will bring more liquidity to the platform and make it a money machine.
Conclusion:
Many people have different choices and opinions about different exchange platforms. It's very common that there will be haters for even the best project. I don't want to say its the best project for now but it has the potential and ability to be one of the best cryptocurrency exchange platforms of all time.

Website || Thisoption || Whitepaper || Telegram || Facebook || Medium

Author: u/thorex25
Disclaimer
This article is not meant to give commercial or any other kind of advice. It is just an informative text at all.
submitted by dojogang to CryptoOasis [link] [comments]

$100 A Day Trading On Bybit - Cryptocurrency Leverage Trading For Beginners Full Max Leverage Crypto Trading - YouTube How Leverage Trading in Crypto Actually Works... - YouTube How to Trade High Leverage 50x Cryptocurrency and Updates on AI Neural Network Bot Trading Getting My Evolve Markets: High Leverage Bitcoin and Forex Trading To Work

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$100 A Day Trading On Bybit - Cryptocurrency Leverage Trading For Beginners

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