Ethereum Classic News, Analysis and Price Prediction (ETC ...
Good Bye, HODL gay --> my final conclusions
hey gays. I realized in the last days that I'm spending too much time and brain-power with this stuff here. It's pretty exciting for a noob like me, but it occupies my brain too much these days, where I should really care about other stuff. So, I decided to give you my final conclusion on this project, based on the "research" I did, also to kind of help myself drawing a final line and getting out of this :)
PoC: the upsides are clear, so I particularly tried to find downsides (not in terms of performance tweaking, but general flaws). I could not find any. Looked for discussions about the spacemint paper and burst, when it started. The best I found was some tech talk between vitalik and another guy in the comment section of cryptocoinnews in 2015 (https://www.cryptocoinsnews.com/cryptocurrency-burst-makes-smart-contracts-reality-happened-ethereum/ comments are deleted, I think) . A colleague of mine got to know sunoo park, and even though he doesn't remember too much of their chat about spacemint, at least he doesn't remember bad things ;). Furthermore, the PoC runs already for more than 3 years in Burst, i.e. it is kind of battle-tested, but as it is the only implementation, the information is rather weak. So, the really strange thing here is, that it wasn't used more often and I could not figure out why this is the case. My guess is, however that this will change soon and chia is just the beginning.
Dymaxion: I read the white paper twice, but unfortunately, I lack the skill to really judge whether it makes sense from a technical perspective. But apparently, it dares to give enough detail for people to actually challenge it. Too bad, there are so few people who have the knowledge to do that (me included). So, the only thing people talk about is the silly stronzo :D. From how I judge it, the approach of a main chain as base layer and second layer solutions for frequent transactions makes sense to me and PoC3 will make the main chain even more efficient (in the sense that even the plots will not be "meaningless" data). But, as with every new technology (and be it "only" integrating existing ones), there is uncertainty, so we'll see how this turns out.
Rico (disclaimer: I actually don't feel really comfortable talking about another individual as I think we should respect each other's privacy. But, as these cryptocurrency projects are mostly driven by a few individuals, I understand that people who invest their energy (time / money) into this project want to know "who" is behind it. Furthermore, what I'll be writing is based only on quite easily accessible information, so I hope Rico doesn’t perceive this as too intruding.)
My conclusions based on what you can read about him (German helps...) are as follows: he is in this space for a very long time already. He is more tech-oriented than investment-oriented and an actual believer in the vision of satoshi. He generally prefers doing over talking, but also does not hide his thoughts. He is respectful and helping with those whom he respects, but also pretty harsh on those whom he doesn't, i.e. people who talk but don't do (i.e. the majority of us). He is probably quite arrogant and even though you could argue that he has good reasons to be that (see latter sentence), I am personally a friend of humbleness and love and peace and so, but hey, nobody’s perfect ;)… draw your own conclusions on how to deal with that. TL;DR: This is full of shit HODL gays lol! I hope, you’ll all have a good time, I wish the PoCC success with this project and hope you’ll open up to fight together with people sharing your vision. Pretty sure, they are out there, just stay open-minded (told you, I’m more the love and peace guy ;). Sorry, I have no time to actively support you (will use the latest wallet though, und alle so YEAH…). Hodl and out, peace :)
XTRD is a technology company that are introducing a new infrastructure that would allow banks, hedge funds, and large institutional traders to easily access cryptocurrency markets. XTRD is launching three separate products in sequential stages to solve the ongoing problems caused by having so many disparate markets. Firstly a unified FIX API followed by XTRD Dark Pools and finally the XTRD Single Point of Access or SPA. Our goal is to build trading infrastructure in the cyptospace and become one of the first full service shops in the cryptocurrency markets for large traders and funds.
A single FIX API for trading across all connected exchanges
A robust GUI for manual cross execution on all crypto markets
A large liquidity pool, based on orders books from all connected exchanges
Best prices and best top of book execution net of fees
Low transaction fees • 99.99999% reliability and uptime
Fast execution
Parent/child orders on multiple exchanges to minimize individual market impact
Advanced order types common in the equity and FX trading space
Establish XTRD as a premier market-making entity to mitigate spreads and increase liquidity in the cryptocurrency space
Derivative trading - XTRD plans to connect to LedgerX (US based, approved by the CFTC) for cryptocurrency options and swaps to offer unified hedging and derivate trading strategies
Robust, US based technical support
Reliable and familiar deployment methods for institutions:
IPSec as a connectivity option across the Internet
Cross connection options
Collocation space or VPS (Virtual Private Servers) that clients can rent from XTRD
UAT/Sandbox environment for testing
How does XTRD work?
Step 1 - XTRD's universal low latency FIX based API connecting to all crypto exchanges to make it easy for major institutions, hedge funds, and algorithmic traders to access all cryptocurrency markets by coding to just one FIX application - in one format - with which they are already intimately familiar. This communications bridge will allow large market participants to easily add multi exchange crypto execution to their existing transaction systems, jumpstarting universal crypto trading adoption among the institutional sector. Step 2 - XTRD will launch XTRD Pro in 2018 - a highly robust, multi-exchange standalone trading platform for active traders. The platform will include, among other features, advanced consolidated order books, hotkey order entry, and custom order types, with 24x7 uptime. Step 3 - XTRD creates a single unified point of access to aggregate liquidity across exchanges for traders. This aggregation allows traders to clear at the best possible prices while delivering the lowest possible transaction costs as well as atomic swap capability all with just one client-side account.
XTRD - Token Model
Trading fees will be collected through the cryptographic economy, facilitated by the XTRD token. XTRD is an ERC20 compliant utility token generated on the Ethereum blockchain and will be used as a means of payment by trading participants for services provided by XTRD.
Staking: As XTRD tokens are used to pay for services on the XTRD trading network, line tokens will be cycled back into the network. Discounts of 25% on XTRD services (execution, colocation, market data, software licensing) will be available for token holders in general and discounts of 40% on XTRD services will be available for token holders who maintain an average monthly stake of at least 50,000 XTRD tokens.
Who is XTRD intended for?
XTRD is mainly aimed at major institutions, hedge funds, algorithmic traders who are currently unable to enter the crypto markets. These firms include companies such as Divisa Capital run by XTRD Advisor Mushegh Tovmasyan.
More information will be added to this thread as the project develops. We are currently looking for key community members to assist in building out this thread. If you are interested please email [[email protected]](mailto:[email protected])
XTRD is a technology company that are introducing a new infrastructure that would allow banks, hedge funds, and large institutional traders to easily access cryptocurrency markets. XTRD is launching three separate products in sequential stages to solve the ongoing problems caused by having so many disparate markets. Firstly a unified FIX API followed by XTRD Dark Pools and finally the XTRD Single Point of Access or SPA. Our goal is to build trading infrastructure in the cyptospace and become one of the first full service shops in the cryptocurrency markets for large traders and funds.
A single FIX API for trading across all connected exchanges
A robust GUI for manual cross execution on all crypto markets
A large liquidity pool, based on orders books from all connected exchanges
Best prices and best top of book execution net of fees
Low transaction fees
99.99999% reliability and uptime
Fast execution
Parent/child orders on multiple exchanges to minimize individual market impact
Advanced order types common in the equity and FX trading space
Establish XTRD as a premier market-making entity to mitigate spreads and increase liquidity in the cryptocurrency space
Derivative trading - XTRD plans to connect to LedgerX (US based, approved by the CFTC) for cryptocurrency options and swaps to offer unified hedging and derivate trading strategies
Robust, US based technical support
Reliable and familiar deployment methods for institutions:
IPSec as a connectivity option across the Internet
Cross connection options
Collocation space or VPS (Virtual Private Servers) that clients can rent from XTRD
UAT/Sandbox environment for testing
What are the industry issues?
COMPLEX WEB OF EXCHANGES. A combination of differing KYC policies, means of funding, interfaces and APIs results in a fragmented patchwork of liquidity for cryptocurrencies. Trading in an automated fashion with full awareness of best pricing and current liquidity necessitates the opening and use of accounts on multiple exchanges, coding to multiple API’s, following varying funding and withdrawal procedures. Once those hurdles are cleared, market participants must convert fiat currency to BTC or ETH and then forward the ETH on to an exchange that may not accept fiat, necessitating yet another transaction to convert back to fiat. Major concerns for market participants range from unmitigated slippage and counterparty risk to hacking prevention and liquidity. HIGH FEES. Execution costs are even more of a factor. Typical exchange commissions are in the 0.1% – 0.25% range per transaction (10 to 25 basis points), but the effective fees are much higher when taking into bid and ask spreads maintained by the exchanges. As most exchanges are unregulated, there is generally no central authority or regulator to examine internal exchange orders that separate proprietary activity from customer activity and ensure fair pricing. THIN LIQUIDITY. A large institutional order, representing a sizable percentage of daily volume can move the market for a product, and related products in an exchange by a factor of 5-10%. That means a single order to buy $1,000,000 worth of bitcoin can cost an extra $50,000-$100,000 per transaction given a lack of liquidity if not managed correctly and executed on only one exchange. By way of comparison, similar trades on FX exchanges barely move markets a fraction of a percent; those price changes cost traders money, and deter investment.
What are the XTRD solutions?
FIX API An API is an “Application Programming Interface”, a set of rules that computer programs use to communicate. FIX stands for “Financial Information eXchange”, the API standard used by most financial organizations as the intermediary protocol to communicate amongst disparate systems such as market data, execution, trade reporting, and order entry for the past 25 years.XTRD is fixing the problem of having 100 different APIs for 100 exchanges by creating a single FIX based API for market data and execution – the same FIX API that all current financial institutions utilize.XTRD will leverage our data center presences in DC3 Chicago and NY4 New Jersey to host FIX trading clients and reduce their trading latencies to single milliseconds, a time acceleration of 100x when it comes to execution vs internet. More infrastructure and private worldwide internet lines will be added in 2018 and beyond to enable secure, low latency execution for all XTRD clients, FIX and PRO. XTRD PRO XTRD PRO is a professional trading platform that will fix the basic problems with trading across crypto exchanges – the need to open multiple web pages, having to click around multiple windows, only being able to use basic order types, and not seeing all your positions, trades, and market data in one place.XTRD PRO will be standalone, downloadable, robust end-to-end encrypted software that will consolidate all market data from exchanges visually into one order book, provide a consolidated position and order view across all your exchange accounts, and enable client side orders not available on exchanges – keyboard macro shortcuts, VWAP/TWAP, shaving the bid and offer, hit through 1% of the inside, reserve orders that bid 100 but show 1, SMART order routing to best exchange and intelligent order splicing across exchanges based on execution costs net of fees, OCO and OTO, many others. XTRD SPA XTRD SPA is the solution to bridge cross-exchange liquidity issues. XTRD is creating Joint Venture partnerships with trusted cryptocurrency exchanges to provide clients on those exchanges execution across other exchanges where they do not have accounts by leveraging XTRD’s liquidity pools.An order placed by a client at CEX.IO, XTRD’s first JV partner, can be executed by XTRD at a different exchange where there may be a better price or higher liquidity for a digital asset. Subsequently, XTRD will deliver the position to CEX.IO and then CEX.IO will deliver the execution to the client, with XTRD acting as just another market participant at the CEX.IO exchange.XTRD does not take custody of funds, we are a technology partner with exchanges. All local exchange rules, procedures, and AML/KYC policies apply. XTRD DARK Institutions and large market participants who have large orders of 100 BTC or more generally must execute across multiple markets, increasing their counterparty risk, paying enormous commissions and spreads, and generally having to deal with the vagaries of the crypto space. Alternatives are OTC brokers that charge multiple percents or private peer-to-peer swaps which are difficult to effectuate unless one is deeply in the space.XTRD is launching XTRD DARK – a dark liquidity pool to trade crypto vs fiat that matches buyers and sellers of large orders, discreetly and anonymously, at a much lower cost. Liquidity is not displayed so large orders do not move thin markets as they would publicly. The liquidity will come from direct XTRD DARK participants as well as aggregation of retail order flow into block orders, XTRD’s own liquidity pools, connections with decentralized exchanges to effectuate liquidity swaps, and OTC broker order flow.XTRD is partnering with a fiat banking providebroker dealer to onboard all XTRD DARK participants for the fiat currency custody side with full KYC/AML procedures.
XTRD Tokenomics
TOKEN USAGE. XTRD will generate the XTRD utility tokens via smart contact during the Token Generation Event (TGE) in Q1 of 2018. The XTRD utility token will be utilized on the XTRD network by market participants to pay for execution, VPS, market data, software licensing, and other fees. Market participants will be able to purchase XTRD tokens directly from XTRD’s liquidity pool. The TGE will be preceded by a private institutional sale and a SAFT (Simple Agreement for Future Token) Platform based presale. The XTRD token will be fully ERC20 compliant to ensure that it functions properly on the Ethereum blockchain, similarly to other ERC20 tokens.
XTRD TOKEN LIQUIDITY AGGREGATION. The XTRD token will be used to create liquidity in the overall cryptocurrency market. Along with the utility of the XTRD token to pay for fees on the XTRD platform of products, most of the XTRD token revenue will be used to increase the inventory of other cryptocurrencies that are in demand by our customers. This will create points of liquidity for our customers to access across the worldwide crypto exchange ecosystem. These liquidity points will be created using XTRD tokens that are paid back into the system for fees. 70% of funds raised in the token sale will be used for liquidity aggregation.
XTRD STAKING. Discounts of 25% on XTRD services (execution, colocation, market data, software licensing) will be available for token holders in general and discounts of 40% on XTRD services will be available for token holders who maintain an average monthly stake of at least 50,000 XTRD tokens. Fiat will be accepted at no discount to par. Execution fees will generally be set as a percentage of the gross trade amount, based on a combination of factors such as liquidity, the pair being traded, market conditions at the time of the trade, and so on. All charges will be marked to market and remain constant, no matter the value of the XTRD token (a $10 charge will be 2 XTRD if $5 each or 0.5 XTRD if $20 each).
TOKEN LEGAL CONSIDERATIONS. XTRD tokens are ERC20 compliant utility tokens functioning on the Ethereum blockchain. The value of XTRD is derived purely from serving as a medium of payment for services by market participants in the XTRD trading ecosystem. XTRD tokens confer no voting rights, profit participation, equity, ownership of intellectual property, revenue sharing, rights to dividends, transfer of ownership upon company sale, control of company assets, or any decision-making ability regarding XTRD or its’ operations. XTRD tokens are not designed for speculation. In summary, XTRD tokens are not securities. XTRD Digital Assets, Inc has obtained a qualified legal opinion concurring that XTRD tokens are not to be considered “securities” under applicable U.S. securities laws given their failure to meet all prongs of the Howey Test.
Who is XTRD intended for?
XTRD is mainly aimed at major institutions, hedge funds, algorithmic traders who are currently unable to enter the crypto markets. These firms include companies such as Divisa Capital run by XTRD Advisor Mushegh Tovmasyan.
More information will be added to this thread as the project develops. We are currently looking for key community members to assist in building out this thread. If you are interested please email [[email protected]](mailto:[email protected])
I'd like to publish a book on bitcoin and future of blockchain technologies. Princeton University has an excellent resource on Bitcoin and I know some major figures in the bitcoin community have published books. I would like to take a different approach for my publication. I also would only accept bitcoin as payment (no self-respecting bitcoin author would charge usd for a book about bitcoin). I want to charge bitcoin exclusively as a demonstration of how easy it is to make a purchase with bitcoin. The price of the book itself is meant to be nominal, perhaps 5 mBTC. I would like for the editoassistant/researcher to make 1mBTC off of every sale as payment for the project. I've been a member of the Digital Currency Council since it's inception. I've written for many crypto-related blogs, including CryptoCoinNews and some niche FinTech publications. I've been a bitcoin enthusiast for 3 years and I've contributed everything from technical documentation to smart contracts for Ethereum. I'm creating a wp site to post updates as the book comes along, it's about half finished. I will release snippets and info as we progress. I'm passionate about how bitcoin can create a better future, bring banking to more people, expose traditional financial institutions and subsequently replace those institutions. I hope I can find one or two people that are also passionate about the subject and want to come along for the ride (and of course the reward!) _Please message me!
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