Bitcoin Arbitrage - Crypto Arbitrage Trading and Investing

Arbitrage Opportunities in Cryptocurrency Markets Tuesday, 10 July, 2018 #fintech #trading #algotrading #quantitative #quant #btc #bitcoin #crypto #fx

Arbitrage Opportunities in Cryptocurrency Markets Tuesday, 10 July, 2018 #fintech #trading #algotrading #quantitative #quant #btc #bitcoin #crypto #fx submitted by silahian to quant_hft [link] [comments]

Crypto and the Latency Arms Race: Crypto Exchanges and the HFT Crowd

Crypto and the Latency Arms Race: Crypto Exchanges and the HFT Crowd


News by Coindesk: Max Boonen
Carrying on from an earlier post about the evolution of high frequency trading (HFT), how it can harm markets and how crypto exchanges are responding, here we focus on the potential longer-term impact on the crypto ecosystem.
First, though, we need to focus on the state of HFT in a broader context.

Conventional markets are adopting anti-latency arbitrage mechanisms

In conventional markets, latency arbitrage has increased toxicity on lit venues and pushed trading volumes over-the-counter or into dark pools. In Europe, dark liquidity has increased in spite of efforts by regulators to clamp down on it. In some markets, regulation has actually contributed to this. Per the SEC:
“Using the Nasdaq market as a proxy, [Regulation] NMS did not seem to succeed in its mission to increase the display of limit orders in the marketplace. We have seen an increase in dark liquidity, smaller trade sizes, similar trading volumes, and a larger number of “small” venues.”
Why is non-lit execution remaining or becoming more successful in spite of its lower transparency? In its 2014 paper, BlackRock came out in favour of dark pools in the context of best execution requirements. It also lamented message congestion and cautioned against increasing tick sizes, features that advantage latency arbitrageurs. (This echoes the comment to CoinDesk of David Weisberger, CEO of Coinroutes, who explained that the tick sizes typical of the crypto market are small and therefore do not put slower traders at much of a disadvantage.)
Major venues now recognize that the speed race threatens their business model in some markets, as it pushes those “slow” market makers with risk-absorbing capacity to provide liquidity to the likes of BlackRock off-exchange. Eurex has responded by implementing anti-latency arbitrage (ALA) mechanisms in options:
“Right now, a lot of liquidity providers need to invest more into technology in order to protect themselves against other, very fast liquidity providers, than they can invest in their pricing for the end client. The end result of this is a certain imbalance, where we have a few very sophisticated liquidity providers that are very active in the order book and then a lot of liquidity providers that have the ability to provide prices to end clients, but are tending to do so more away from the order book”, commented Jonas Ullmann, Eurex’s head of market functionality. Such views are increasingly supported by academic research.
XTX identifies two categories of ALA mechanisms: policy-based and technology-based. Policy-based ALA refers to a venue simply deciding that latency arbitrageurs are not allowed to trade on it. Alternative venues to exchanges (going under various acronyms such as ECN, ATS or MTF) can allow traders to either take or make, but not engage in both activities. Others can purposefully select — and advertise — their mix of market participants, or allow users to trade in separate “rooms” where undesired firms are excluded. The rise of “alternative microstructures” is mostly evidenced in crypto by the surge in electronic OTC trading, where traders can receive better prices than on exchange.
Technology-based ALA encompasses delays, random or deterministic, added to an exchange’s matching engine to reduce the viability of latency arbitrage strategies. The classic example is a speed bump where new orders are delayed by a few milliseconds, but the cancellation of existing orders is not. This lets market makers place fresh quotes at the new prevailing market price without being run over by latency arbitrageurs.
As a practical example, the London Metal Exchange recently announced an eight-millisecond speed bump on some contracts that are prime candidates for latency arbitrageurs due to their similarity to products trading on the much bigger CME in Chicago.
Why 8 milliseconds? First, microwave transmission between Chicago and the US East Coast is 3 milliseconds faster than fibre optic lines. From there, the $250,000 a month Hibernia Express transatlantic cable helps you get to London another 4 milliseconds faster than cheaper alternatives. Add a millisecond for internal latencies such as not using FPGAs and 8 milliseconds is the difference for a liquidity provider between investing tens of millions in speed technology or being priced out of the market by latency arbitrage.
With this in mind, let’s consider what the future holds for crypto.

Crypto exchanges must not forget their retail roots

We learn from conventional markets that liquidity benefits from a diverse base of market makers with risk-absorption capacity.
Some have claimed that the spread compression witnessed in the bitcoin market since 2017 is due to electronification. Instead, I posit that it is greater risk-absorbing capacity and capital allocation that has improved the liquidity of the bitcoin market, not an increase in speed, as in fact being a fast exchange with colocation such as Gemini has not supported higher volumes. Old-timers will remember Coinsetter, a company that, per the Bitcoin Wiki , “was created in 2012, and operates a bitcoin exchange and ECN. Coinsetter’s CSX trading technology enables millisecond trade execution times and offers one of the fastest API data streams in the industry.” The Wiki page should use the past tense as Coinsetter failed to gain traction, was acquired in 2016 and subsequently closed.
Exchanges that invest in scalability and user experience will thrive (BitMEX comes to mind). Crypto exchanges that favour the fastest traders (by reducing jitter, etc.) will find that winner-takes-all latency strategies do not improve liquidity. Furthermore, they risk antagonising the majority of their users, who are naturally suspicious of platforms that sell preferential treatment.
It is baffling that the head of Russia for Huobi vaunted to CoinDesk that: “The option [of co-location] allows [selected clients] to make trades 70 to 100 times faster than other users”. The article notes that Huobi doesn’t charge — but of course, not everyone can sign up.
Contrast this with one of the most successful exchanges today: Binance. It actively discourages some HFT strategies by tracking metrics such as order-to-trade ratios and temporarily blocking users that breach certain limits. Market experts know that Binance remains extremely relevant to price discovery, irrespective of its focus on a less professional user base.
Other exchanges, take heed.
Coinbase closed its entire Chicago office where 30 engineers had worked on a faster matching engine, an exercise that is rumoured to have cost $50mm. After much internal debate, I bet that the company finally realised that it wouldn’t recoup its investment and that its value derived from having onboarded 20 million users, not from upgrading systems that are already fast and reliable by the standards of crypto.
It is also unsurprising that Kraken’s Steve Hunt, a veteran of low-latency torchbearer Jump Trading, commented to CoinDesk that: “We want all customers regardless of size or scale to have equal access to our marketplace”. Experience speaks.
In a recent article on CoinDesk , Matt Trudeau of ErisX points to the lower reliability of cloud-based services compared to dedicated, co-located and cross-connected gateways. That much is true. Web-based technology puts the emphasis on serving the greatest number of users concurrently, not on serving a subset of users deterministically and at the lowest latency possible. That is the point. Crypto might be the only asset class that is accessible directly to end users with a low number of intermediaries, precisely because of the crypto ethos and how the industry evolved. It is cheaper to buy $500 of bitcoin than it is to buy $500 of Microsoft shares.
Trudeau further remarks that official, paid-for co-location is better than what he pejoratively calls “unsanctioned colocation,” the fact that crypto traders can place their servers in the same cloud providers as the exchanges. The fairness argument is dubious: anyone with $50 can set up an Amazon AWS account and run next to the major crypto exchanges, whereas cheap co-location starts at $1,000 a month in the real world. No wonder “speed technology revenues” are estimated at $1 billion for the major U.S. equity exchanges.
For a crypto exchange, to reside in a financial, non-cloud data centre with state-of-the-art network latencies might ironically impair the likelihood of success. The risk is that such an exchange becomes dominated on the taker side by the handful of players that already own or pay for the fastest communication routes between major financial data centres such as Equinix and the CME in Chicago, where bitcoin futures are traded. This might reduce liquidity on the exchange because a significant proportion of the crypto market’s risk-absorption capacity is coming from crypto-centric funds that do not have the scale to operate low-latency strategies, but might make up the bulk of the liquidity on, say, Binance. Such mom-and-pop liquidity providers might therefore shun an exchange that caters to larger players as a priority.

Exchanges risk losing market share to OTC liquidity providers

While voice trading in crypto has run its course, a major contribution to the market’s increase in liquidity circa 2017–2018 was the risk appetite of the original OTC voice desks such as Cumberland Mining and Circle.
Automation really shines in bringing together risk-absorbing capacity tailored to each client (which is impossible on anonymous exchanges) with seamless electronic execution. In contrast, latency-sensitive venues can see liquidity evaporate in periods of stress, as happened to a well-known and otherwise successful exchange on 26 June which saw its bitcoin order book become $1,000 wide for an extended period of time as liquidity providers turned their systems off. The problem is compounded by the general unavailability of credit on cash exchanges, an issue that the OTC market’s settlement model avoids.
As the crypto market matures, the business model of today’s major cash exchanges will come under pressure. In the past decade, the FX market has shown that retail traders benefit from better liquidity when they trade through different channels than institutional speculators. Systematic internalizers demonstrate the same in equities. This fact of life will apply to crypto. Exchanges have to pick a side: either cater to retail (or retail-driven intermediaries) or court HFTs.
Now that an aggregator like Tagomi runs transaction cost analysis for their clients, it will become plainly obvious to investors with medium-term and long-term horizons (i.e. anyone not looking at the next 2 seconds) that their price impact on exchange is worse than against electronic OTC liquidity providers.
Today, exchange fee structures are awkward because they must charge small users a lot to make up for crypto’s exceptionally high compliance and onboarding costs. Onboarding a single, small value user simply does not make sense unless fees are quite elevated. Exchanges end up over-charging large volume traders such as B2C2’s clients, another incentive to switch to OTC execution.
In the alternative, what if crypto exchanges focus on HFT traders? In my opinion, the CME is a much better venue for institutional takers as fees are much lower and conventional trading firms will already be connected to it. My hypothesis is that most exchanges will not be able to compete with the CME for fast traders (after all, the CBOE itself gave up), and must cater to their retail user base instead.
In a future post, we will explore other microstructures beyond all-to-all exchanges and bilateral OTC trading.
Fiber threads image via Shutterstock
submitted by GTE_IO to u/GTE_IO [link] [comments]

LQDFX (Liquid Fx) scammed me finally

Im very sorry to write this but after being with Lqd for a month and trippling my profit I was one morning hit with an “arbitrage trader” email(i will post the email) and my account was removed and deleted. I know the risks involved with an offshore but I thought these guys were decent judging by the reviews here which could be fake now that I think of it. I knew things were fishy when I tried making my first withdrawals they called me and said “we had issues where a clients child got on his pc and made withdrawals so we are making sure you indeed made this withdrawal” lmao ?? Basically them saying “Please keep your money here” Apparently I’m not the only one that got this call ..
Im from US and thought a little leverage would be fun to test out but if you plan on making profits and withdrawing I wish you good luck, dont say you werent warned. Also the only reliable method to deposit/withdraw was bitcoin where you are paying fees so be mindful of that as well, their credit card system isn’t allowed to operate hence why its always down. Once again the guys and girls at lqdfx Evan, Victoria are very nice people but something shady is brewing with their superiors... I encourage others who were mugged to step forward its not embarrassing to speak the truth. Its very sad I had a life emergency(wife cancer) to attend and needed those funds. May god bless you all i hope my review can shine some light on LqdFx. Overall a good company but they will kick you out once you’re making serious profits.
submitted by vman33 to Forex [link] [comments]

Presenting ForDeX - The World's First Stablecoin-focused Relayer

Presenting ForDeX - The World's First Stablecoin-focused Relayer
Visit ForDex.
The Profusion of Stablecoins:
Enough has been said about the extreme volatility of cryptocurrencies and how it hinders the broader real-world adoption of cryptocurrencies. Bitcoin’s store-of-value and uncensorable medium-of-exchange propositions are vastly undermined by its huge price swings. Any asset that fluctuates by 20% in a single day cannot become a reliable instrument for either of the aforementioned value propositions. According to a few cryptocurrency maximalists, the extreme volatility of cryptocurrencies can be attributed to the speculative nature of the asset class and that the volatility will subside once investors understand the inarguable benefits of the utility aspects of cryptocurrencies. On the other side, crypto detractors posit that the high fluctuations in crypto asset prices will never lead to the real-life adoption of cryptocurrencies. It’s a chicken-and-egg problem here. More adoption curbs volatility and high volatility curbs adoption.
This is why stablecoins are important. To drive real-life adoption of cryptocurrencies, new users need to interface with the crypto world through a price-stable cryptocurrency (Stablecoins). Stablecoins are cryptocurrencies whose value is pegged to the value of a different asset (mostly USD, but other fiat-pegged stablecoins are also in existence with more in the pipeline). The number of stablecoin projects is increasingly growing every year and witnessing a sharp growth in stablecoin development activity outside the US, especially in SE Asia, with a few projects ready to be launched soon. Besides the arbitrage use case, stablecoins could potentially pave the way for mainstream adoption by enabling stablecoin-denominated wages, blockchain-based lending, and a host of other applications. We expect the stablecoin ecosystem to become richer and more vibrant through the entry of more fiat-pegged stablecoins of various currencies.
Price arbitrage between stablecoins is expected to attract lots of trading activity on exchanges. In addition, we firmly believe that having a robust and liquid market for trading between stablecoins of various currencies has the potential to disrupt the costly and less transparent legacy infrastructure for remittances. As such, we decided to leverage the technology of the 0x protocol to launch a relayer that predominantly focuses on stablecoin-to-stablecoin trading, in order to build out the next generation and crypto-powered FX markets.

Why build a relayer?

Centralized exchanges have for long been the Achilles heel of the crypto ecosystem. Besides offering almost zero privacy through mandatory KYC/AML imposition and the onerous onboarding procedure, centralized exchanges are also the most vulnerable to many attack vectors, including exchange hacks, DDoS attacks, etc. On the other hand, 0x-based relayers enable p2p trustless trading where the relayer does not take the ownership of users’ funds at any point during the trade and also offer full privacy. Users can simply plug-in their wallets to our relayer and trade tokens directly in and out of their wallets effortlessly for any ERC20 token.
ForDeX maintains an off-chain order-book that matches orders and sends the orders to the Ethereum blockchain for execution.

https://preview.redd.it/q8lvfg1twdc21.png?width=1426&format=png&auto=webp&s=0240f3b815222e45c1d0efedcb85e99aeac0ff83

When is the launch? What features will be available?

We look forward to bringing the ‘alpha’ version of ForDex to you on the 26th of this month. During our alpha stage, we intend to provide the following features on our relayer:
1.Stablecoin-to-Stablecoin trading for the USDC/DAI, PAX/USDC, KRWb/DAI, etc.
2.First-ever fiat onramp for a relayer, with assistance from Wyre
3.First-ever exchange to facilitate a fast and transparent conversion of USD to KRW through stablecoins (DAI/KRWb, USDC/KRWb, and PAX/KRWb)

Interested in partnering with us?

Interested users and parties can reach out to us at [[email protected]](mailto:[email protected]) for collaborative opportunities and discussions. Do not forget to follow us on Reddit, Twitter, Medium and Telegram.
submitted by elephants_can_dance to ForDeX [link] [comments]

Bitcoin soars past $13,000 as Facebook's Libra fuels demand

This is the best tl;dr I could make, original reduced by 57%. (I'm a bot)
NEW YORK/LONDON - Bitcoin jumped to an 18-month high on Wednesday, as investors looked for safety in alternative investments amid geopolitical tension, and cheered prospects that Facebook Inc's Libra token could push cryptocurrencies into the mainstream.
Investors have flocked back in to digital currencies after a bruising 2018.
Analysts say Facebook's announcement this month has revived interest in digital currencies, while investors seeking safety have also pushed up bitcoin's price.
"Cryptocurrency traders were reinvigorated by Facebook's launch of their own digital coin and momentum appears to be stirring up fresh new investors," said Edward Moya, senior market analyst, at online FX broker OANDA in New York.
Bitcoin CME futures volumes have also increased in the past few days, as investors look for ways to get their hands on the coin via the derivatives market.
Traders, who have access to both spot and futures markets have been buying the spot and selling the futures, arbitraging the two prices, said Michael Moro, chief executive officer at Genesis Global Trading, which provides over-the-counter digital currency trading for institutional investors.
Summary Source | FAQ | Feedback | Top keywords: investors#1 Bitcoin#2 digital#3 cryptocurrency#4 look#5
Post found in /news.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

never too late to know about blockchain tech wwww.fxtradingcorp.com

📷
JOIN NOW just click below the links or any link to sign up and start earning
https://office.fxtradingcorp.com/signup/1029604hjgb8c086p
( RIGHT WING CLUB)
OR
https://office.fxtradingcorp.com/signup/1029604hjgb8c086p
( LEFT WING CLUB)
WHAT IS BITCOIN MEANING …………
📷
Bitcoin is a decentralized digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: transaction management and money issuance are carried out collectively by the network.
The original Bitcoin software by Satoshi Nakamoto was released under the MIT license. Most client software, derived or "from scratch", also use open source licensing.
Bitcoin is the first successful implementation of a distributed crypto-currency, described in part in 1998 by Wei Dai on the cypherpunks mailing list. Building upon the notion that money is any object, or any sort of record, accepted as payment for goods and services and repayment of debts in a given country or socio-economic context, Bitcoin is designed around the idea of using cryptography to control the creation and transfer of money, rather than relying on central authorities.
Bitcoins have all the desirable properties of a money-like good. They are portable, durable, divisible, recognizable, fungible, scarce and difficult to counterfeit.
Why?
Bitcoin is P2P electronic cash that is valuable over legacy systems because of the monetary autonomy it brings to its users. Bitcoin seeks to address the root problem with conventional currency: all the trust that's required to make it work -- Not that justified trust is a bad thing, but trust makes systems brittle, opaque, and costly to operate. Trust failures result in systemic collapses, trust curation creates inequality and monopoly lock-in, and naturally arising trust choke-points can be abused to deny access to due process. Through the use of cryptographic proof, decentralized networks and open source software Bitcoin minimizes and replaces these trust costs.
Bitcoin Transactions are:
Permissionless and borderless. The software can be installed by anybody worldwide.
Do not require any ID to use. Making it suitable for the unbanked, the privacy-conscious, computers or people in areas with underdeveloped financial infrastructure.
Are censorship-resistant. Nobody is able to block or freeze a transaction of any amount.
Irreversible once settled, like cash. (but consumer protection is still possible.)
Fast. Transactions are broadcasted in seconds and can become irreversible within an hour.
Online and available 24 hours a day, 365 days per year.
Bitcoin can also be a store of value, some have said it is a "swiss bank account in your pocket".
Stored Bitcoins:
Cannot be printed or debased. Only 21 million bitcoins will ever exist.
Have no storage costs. They take up no physical space regardless of amount.
Are easy to protect and hide. Can be stored encrypted on a hard disk or paper backup.
Are in your direct possession with no counterparty risk. If you keep the private key of a bitcoin secret and the transaction has enough confirmations, then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.
If you still can’t figure out what the heck a bitcoin is, this simple explanation will help you! …
📷
We’re sitting on a park bench. It’s a great day. I have one apple with me, I give it to you.
You now have one apple and I have zero. That was simple, right?
Let’s look closely at what happened:
My apple was physically put into your hand. You know it happened. I was there, you were there – you touched it.
We didn’t need a third person there to help us make the transfer. We didn’t need to pull in Uncle Tommy (who’s a famous judge) to sit with us on the bench and confirm that the apple went from me to you.
The apple’s yours! I can’t give you another apple because I don’t have any left. I can’t control it anymore. The apple left my possession completely. You have full control over that apple now. You can give it to your friend if you want, and then that friend can give it to his friend, and so on.
So that’s what an in-person exchange looks like. I guess it’s really the same, whether I’m giving you a banana, a book, a quarter, or a dollar bill …But I’m getting ahead of myself.

📷
What if we gave this ledger to everybody? Instead of the ledger living on a Blizzard computer, it’ll live in everybody’s computers. All the transactions that have ever happened, from all time, in digital apples, will be recorded in it.You can’t cheat it. I can’t send you digital apples I don’t have, because then it wouldn’t sync up with everybody else in the system. It’d be a tough system to beat. Especially if it got really big.
Plus, it’s not controlled by one person, so I know there’s no one that can just decide to give himself more digital apples. The rules of the system were already defined at the beginning.
And the code and rules are open source – kinda like the software used in your mom’s Android phone. Or kinda like Wikipedia. It’s there for smart people to maintain, secure, improve, and check.
You could participate in this network too – updating the ledger and making sure it all checks out. For the trouble, you could get like 25 digital apples as a reward. In fact, that’s the only way to create more digital apples in the system.
I simplified quite a bit … But that system I explained exists. It’s called the Bitcoin protocol. And those digital apples are the bitcoins within the system. Fancy! So, did you see what happened?
What does the public ledger enable?
1) It’s open source, remember? The total number of apples was defined in the public ledger at the beginning. I know the exact amount that exists. Within the system, I know they are limited (scarce).
2) When I make an exchange I now know that digital apple certifiably left my possession and is now completely yours. I used to not be able to say that about digital things. It will be updated and verified by the public ledger.
3) Because it’s a public ledger, I didn’t need Uncle Tommy (third-party) to make sure I didn’t cheat, or make extra copies for myself, or send apples twice, or thrice…
Within the system, the exchange of a digital apple is now just like the exchange of a physical one. It’s now as good as seeing a physical apple leave my hand and drop into your pocket. Just like on the park bench, the exchange involved two people only. You and me , we didn’t need Uncle Tommy there to make it valid.
In other words, it behaves like a physical object.
But you know what’s cool? It’s still digital.
We can now deal with 1,000 apples, or 1 million apples, or even .0000001 apples. I can send it with a click of a button, and I can still drop it in your digital pocket if I was in Nicaragua and you were all the way in New York.
I can even make other digital things ride on top of these digital apples! It’s digital after all. Maybe I can attach some text on it – a digital note. Or maybe I can attach more important things; like say a contract, or a stock certificate, or an ID card …
So this is great! How should we treat or value these “digital apples”? They’re quite useful aren’t they?
Well, a lot of people are arguing over it now. There’s debate between this and that economic school, between politicians, between programmers. Don’t listen to all of them though. Some people are smart; some are misinformed. Some say the system is worth a lot; some say it’s actually worth zero. Some guy actually put a hard number on it: $1,300 per apple. Some say it’s digital gold; some say it’s a currency. Others say they’re just like tulips. Some people say it’ll change the world; some say it’s just a fad.
I have my own opinion about it, but that’s a story for another time.
Hey, you now know more about Bitcoin than most.
FX TRADING OFFICE ADDRESS
Company Registered in South Korea (99, Centum dong-ro, Haeundae-gu, Busan, South Korea)
WHY FX TRADING CREATED?
\They want to open an exchange in all around the World after 3 years with* 5 Million members.\*
14:42
ABOUT THE COMPANY
FXTRADING CORPORATION is a global company with many investors and entrepreneurs in the World. Already developed by a team of professionals currently in the field of FX and CRYPTOTRADING and they created the software. It also helps many investors make money from mining companies in various places around the world with the following coins. Bitcoin, Etherium, Bitcoin in cash, Litecoin, etc. Even if you do not have experience in this market, it is an opportunity to earn profits automatically and gain a lot of growth.
HOW ITS WORKS
Our groundbreaking platform uses an automated arbitrage system that yields profits for customers based on real-time movements in the cryptocurrency market. Our proprietary algorithm buys bitcoin when it is cheaper, and sells when it is more expensive. FX-TRADING customers benefit by assuming the profit, which is deposited directly into their online account.
WHEN IT WAS LAUNCHED
fficial Launch on August 10th, 2018 in Busan – South Korea. Around 896.000 peoples already joined, and more than 183 countries opened.
IF U WANT TO BECOME AN INVESTOR
Great! for you as an investor is very simple Chose one of the Packages available: bot 100$
bot300$ bot500$
bot1000$ bot3000$ botbot5000$ bot10000$ bot20000$ bot30000$ bot40000$ bot50000$ The company will pay you up to 2.5% from what you invested They trade during the day and when comes midnight in South Korea, they pay whatever was that day’s profits Some days are 1.45% or 2.2% or 1.1% The company can’t guarantee how much it will pay, as Trading is not guaranteed The company pays Monday to Friday for 200 working days The only way to invest is using Bitcoin You can withdraw minimum of 50$ Monday to Friday, and it will be paid only in Bitcoin 24h later, not counting weekends, so if you withdraw on a Friday, you will get paid on Monday.
IF U WANT TO BE AN NETWORKER
Great! being a networker means you can get more bonuses • Daily Payment • Binary • Residual • Career Plan 1 - The daily Payment is up to 2.5% per day Monday to Friday, until you reach 400% 2- Binary is 10% of what people invest but you first need to qualify for it, is very simple, just register one direct person to your left and one to your right! after these 2, the next person that you register or that comes from those who you already registered, you will get the binary bonus from them, we are always talking about the smaller side. 3- Residual, this bonus is linked to the career plan, you need to qualify per stars, each star means you get 2% of each level from your network. So if you are star 3 for example, means you will receive 2% from 3 level from your network, everyday when they receive their daily payment, you get 2% of what they make. 4- Career Plan, Dollars of investment to became ◊1 Dollar = 1 Point Star 1 you need 1.000 points Star 2 you need 4.000 points Star 3 you need 20.000 points Star 4 you need 50.000 points Star 5 you need 200.000 points Star 6 you need 500.000 points Star 7 you need 1.500.000 points Star 8 you need 3.000.000 points Star 9 you need 5.000.000 points Star 10 you need 10.000.000 points Black Star you need 50.000.000 points All this point needs to be on the smaller leg.
DIFFERENCE BETWEEN INVESTOR AND NETWORKER
First let me tell you about being an Investor For you as an investor is very simple Choose one of the Packages available: 100$ 300$ 500% 1000$ 3000$ 5000$ 10000$ 20000$ 30000$ 40000$ 50000$ The company will pay you up to 2.5% from what you invested They trade during the day and when comes midnight in South Korea, they pay whatever was that day’s profits Some days are 1.45% or 2.2% or 1.1% The company can’t guarantee how much it will pay, as Trading is not guaranteed The company pays Monday to Friday for 200 working days The only way to invest is using Bitcoin You can withdraw minimum of 50$ Monday to Friday, and it will be paid only in Bitcoin 24h later, not counting weekends, so if you withdraw on a Friday, you will get paid on Monday.
Now as a networker you can get more bonuses • Daily Payment • Binary • Residual • Career Plan 1 - The daily Payment is up to 2.5% per day Monday to Friday, until you reach 400% 2- Binary is 10% of what people invest but you first need to qualify for it, is very simple, just register one direct person to your left and one to your right! after these 2, the next person that you register or that comes from those who you already registered, you will get the binary bonus from them, we are always talking about the smaller side. 3- Residual, this bonus is linked to the career plan, you need to qualify per stars, each star means you get 2% of each level from your network. So if you are star 3 for example, means you will receive 2% from 3 level from your network, everyday when they receive their daily payment, you get 2% of what they make. 4- Career Plan, Dollars of investment to became ◊1 Dollar = 1 Point Star 1 you need 1.000 points Star 2 you need 4.000 points Star 3 you need 20.000 points Star 4 you need 50.000 points Star 5 you need 200.000 points Star 6 you need 500.000 points Star 7 you need 1.500.000 points Star 8 you need 3.000.000 points Star 9 you need 5.000.000 points Star 10 you need 10.000.000 points Black Star you need 50.000.000 points All this point needs to be on the smaller leg.
MOST IMPORTANTLY IS THAT
The difference Between an investor and a networker is: Investor Will only receive the daily payment of up to 2.5% Networker Can get more bonuses such as: - Daily Payment of up to 2.5% - Indication of 6% - Binary of 10% - Residual Bonus - Career Bonus
SOME INFO THAT YOU HAVE TO KNOW ABOUT GET SUPPORT FROM FXTRADING
ACTIVATION:
MY PLAN DOES NOT ACTIVATE AFTER WIRING FUNDS ANSWER IS …
.- After a payment request is created, you have 24 hours to wire funds to a designated wallet. Based on the fluctuation of Bitcoin prices, posted amount of Bitcoin may be larger or smaller. Price updates commence every 30 minutes. - The system only validates your request to transfer when you pay the designated amount or more. If less bitcoin were submitted, the transfer request would be voided automatically…
HOW LONG DOES IT TAKE TO ACTIVATE MY PLAN ANSWER IS ....
- The time until the activation varies depending on processing speed of network or blockchain. Some exchange and wallet may take more time to transfer funds. However, the process generally does not exceed 6 hours. Therefore, if your plan does not activate after 6 hours, please contact the support centre.
EARNINGS:
WHICH DAYS OF A WEEK I RECEIVE MY EARNINGS ?
- Daily earnings are processed and posted at midnight, Monday through Friday, Korean Standard Time.
MY PLAN WAS ACTIVATED BUT NOT YET REICIEVE EARNINGS?
- It takes 24 hours until your investments are processed through our system. You will be listed as an FXTRADING dividend recipient after 24 hours.
I UPGRADED MY PLAN BUT RECEIVED EARNINGS FOR THE PREVIOUS PLAN?
- The same rules apply for plan upgrades with the purchase of a new plan. Your upgrades will be in force after 24 hours. Until that point, you will receive the earnings on the previous plan.
WITHDRAWAL:
WHICH DAYS OF A WEEK I CAN WITHDRAW MY FUNDS?
- You can withdraw your funds Monday through Friday.
What is the minimum amount that I can withdraw?
- The minimum withdrawal amount is currently $50. There is no limit on the maximum amount you can withdraw.
How long does it take to process my remittance request?
- Please allow 1 to 3 business days to process your withdrawal requests.
I received payment confirmation o- It may take up to 24 hours after confirmation for requests to be processed in blockchain and posted on your wallet.
Hash values I received by e-mail are not recognized by Blockchain.
- It generally takes 24 hours for blockchain to recognize hash values. You can review the progress by the link provided in the e-mail message until then.
Binary
What should I do to get a binary bonus?
- It generally takes 24 hours for blockchain to recognize hash values. You can review the progress by the link provided in the e-mail message until then.
I made one referral member, but I did not receive a credit.
- Please confirm if the new referral member is the first one on your left or right. First referral on each side only qualifies you for binary bonus program. They do not create credits and do not count as binary members. - Was your plan active when your referral members in lower tier activate their plans? Credits are provided only if your plan was active when lower tier members activate their plans. - Are your lower tier referral members’ accounts leadership accounts? Leadership accounts do not own earnings and do not get payments. Therefore, leadership members do not create binary credit.
Amounts of my credit received seems not correct.
- Created credits are 10% of the price of plans purchased. If a member in your network upgrades a plan, the member only creates credits on the difference between two plans, not on the entire amount of the plan the member bought. For instance, if a member upgrades to $500 plan from $300 plan, you would receive 10% of the difference between the two plans. The difference is $200 in this example so that you will get 20 credits in total.
I received bonus less than created credits.
- There is a rule for the binary program; no member shall receive binary bonus larger than the plan they are on. For instance, if you are using $100 plan, but have created 150 credits through the binary network, you will only receive $100 bonus, forfeiting the remaining $50. - You also need to be careful about 400% earning rule. You can never receive an amount four times more than the plan you are on. For example, if you are using $100 plan, have received $350 as earnings so far and you have 100 credits outstanding for a binary bonus, only $50 that matches your 400% ceiling will be paid to you as a binary bonus.
Referral Bonus I did not receive my referral bonus while my referral member was activatated
- To receive a referral bonus, your plan must be active when your referral’s plan comes activated. To ensure receipt of your bonus, please wait until your plan gets activated before providing referral codes. - Referral Bonus is subject to 400% earning rule. Bonus from referrals will be paid up until their earnings reach 400% of their plan price. Bonus ceases to be remitted when your referral member reaches the earning cap.
An incorrect amount of bonus was paid
The referral bonus is 6% of the plan price purchased. If your referral member upgrades their plan, it creates the bonus on the difference between the two plans, not the entire amount of the plan purchased. For example, if your referral member upgrades to $500 plan from $300 plan, you will receive a 6% bonus on the difference amount between the plans. In this case, you will receive a $12 bonus as the difference is $200. - You also need to be careful about 400% earning rule. You can never receive an amount four times more than the plan you are on. For example, if you are using $100 plan, have received $350 as earnings so far and you have 100 credits outstanding for a referral bonus, only $50 that matches your 400% ceiling will be paid to you as a referral bonus.
submitted by ijronny to u/ijronny [link] [comments]

A new beginning

Yesterday's price action will be quite a memorable one. Very high volume day, a bullish engulfing candle, the closing price was in my price range 6.2-7.2 EUR even though the bottom went temporarily through it on the hacked account news. Maybe there is a pause and a minor retest but there are strong hints this will be a bottom on the weekly chart for many candles, at least 2-3 months, and the minimum targets would be around 9-9.5. I believe 12-12.5 would be possible as well but a little bit stretched. Beyond that, we need to reverse powerful existing forces. Hopefully that will happen one day.
I still think that the supply problem from mining + ICO is not resolved even though the demand side of the equation has improved at these lower prices. But thats because we hit the big support level. If we hit it again it would be weaker, I guess. So 3-4 EUR is still a remote possibility. But not for now. And maybe this is the true bottom and we will make new ATH. Time will tell.
Anyway, thats my last 2 cents that I'll spend here. As for me, i wasn't even involved in yesterday's trade even though i posted a lot. Thus,it made me realize that I'm really wasting my time unproductively. The reason i've been sitting out of the market is a lack of risk appetite/confidence recently. And also the lack of incentives.
As for the lack of risk appetite, its more psychological than anything else. After all, my gross profit this year according to my spreadsheet is north of 430K EUR with an ATH just below 450K (in September), so less than 5% retracement. But my big problem is with taxes. I didn't think about it before pressing the SELL button when i sold my ETH during the first bubble (around 9 EUR which provided more than 2/3 of my profits, as I bought first in Dec15, its higher than today !!). In my juridiction (Japan) I'll have to pay 50% on that. I'm working to reduce a bit the bill, even reducing that to something like 40% would help a lot obviously, but i don't know if it will work.
So taking risk with my capital, and having the govt taking 50% of the gains, isn't a good risk/reward proposition...depressing if anything... gains from FX or stock trading is taxed only 20% here...!!! Law might change in the near future, but too bad for me...
The other thing is my mindset about crypto. I've left my IB trading position 3 years ago, and haven't worked since. Those crypto gains is a nice sum of money, BUT not a life changing one for me, my net worth is one order of magnitude higher. The real best thing it has done for me, is giving me back some credibility to my entourage (and to myself), as I would not have invested in crypto if i hadn't spent time in meet ups, conferences, studying IT/cryptography a bit (online courses) and even meeting ETH devs BEFORE the ICO ! Also, a salary would have been taxed the same, and obviously I can't get anymore a job paying that much these days.
While a lot of people here have a YOLO mentality, wanting to be crypto millionaires with 10x or 100x or more gains, hoping to repeat for themselves the stories of the likes of Bitcoin Jesus, my mentality is (overly) conservative and I don't want to become a loser of crypto after having made some money, because i need more the "credibility" than i need the money !
To avoid becoming a loser once you've become a winner in this game, there is only ONE SURE recipe, its to cash out, something i did already after the first bubble, where from the initial 40K ETH i went back to 10K size in the second bubble, and then even less size after DAO hack (when i flattened my whole portfolio at the time) before resuming trading earnestly again with ETC and BitFinex hack day. Addicted gamblers all end up in ruin because they continue betting the farm until they lose it...
Given my NET AFTER TAX profits will amount only to a more modest #200K (a bit more maybe if my plan works), i have decided to have a buy and hold position in only XMR + a little bit of ETH, and i own also FCT A-shares (those would be taxed only 20% if there is ever a gain). In the case it all goes to 0, i will still be a winner in this game.
At some stage later, i might decide to increase my size or even to trade again, notably if I get some good money from other investments than crypto. After all, my crypto holdings is an extremely small percentage of my net worth. [ I own real estate, gold, even some stocks.] But if I trade actively, i want to try to commit 100% professionally, using professional tools (arbitrage bots included), maybe even manage other's people money. and also, stop posting.
Posting was good for my ego, and also good for my discipline. I never BS you, and writing here my stop levels helped me to execute them with no remorse. "forgetting" stop losses has cost me a lot so many times in my career.
I also learnt a lot from many posters, even some i liked to mock like etheraddict77 and wish you good luck to all. I think see many good young traders here (special mention to redembr, kustonoy, arbitrage84, thisusernameluvsyou, and also the guys who called right this latest bear market like econoar, O-O-O) I see good quality TA posts, so I know you won't be orphans. It was very entertaining to read you guys.
I will need to block this site especially during the rest of this month. To make things "worse", the Japanese tax offices considers any crypto transaction as a BTC/JPY etc.... transaction (so ETH/EUR is ETH/JPY + EUJPY)... which means i have to sort out all my trades and compute my taxable income all by myself... I've started to program that but only 15% through that. (I don't wanna do that on a spreadsheet, i want to use this as an opportunity to practice my beginner programming skills)
This is my last post, if I come back posting, I might even use a new account.
Thank you to all, it was fun, I spent a good time with you all. Good luck, try to make money, but don't forget, don't invest more than you can lose, it MIGHT all go to 0 even if we all hope it goes to 100$ or 1000$, never use leverage, and never short crypto...and believe in TA !!! markets don't need reasons to go up or down, they just need a trend (or it could just be noise)...
Good bye Hasta la Vista Au revoir Sayonara
submitted by GrossBit to ethtrader [link] [comments]

How to arbitrage the Bitfinex BTC/USD premium

As of now, all fiat deposits to Finex are indefinitely suspended, but they are processing fiat withdrawals in HKD and CHF (which can then be converted on FX market to USD when sent to your bank). This is apparently a 7 business day manual process by Bitfinex.
The premium for BTC/USD on Bitfinex is about $65 to BitStamp-- $1205 vs $1270 -- about 5%.
To exploit this price differential is quite simple. Some people have been talking about it, but seem confused about the details.
What follows is a basic model for how you can profit off this. The fees are not exact and may vary depending on application/setup.
This is assuming you're already verified on the exchanges. Let's use BitStamp as the example, and of course BitFinex.
(note: 1bp = 0.01%)
Step 1) Wire USD to Bitstamp (1-2 days) (5bp fee on stamp)
Step 2) Buy BTC w/USD on Bitstamp (25bp fee on stamp)
Step 3) Withdraw BTC from BitStamp to Bitfinex (a few hours) - $5 mining fee to confirm next block (You can also use funds on Bitfinex to short and lock in BFX price while waiting for the withdrawal to hit)
Step 4) Sell BTC on Bitfinex at 500bp premium for USD, (20bp fee on finex)
Step 5) Withdraw "USD" as HKD/CHF to your own bank, paying 40bp FX spread, 10bp (currently about 10 calendar days -- thanks jenya_ for correction)
All total, 500bp gain minus ~100bp bank/exchange fees, 11-12 calendar days estimated roundtrip.
If you start with, say, $100,000, at current prices you're moving 80-85 BTC which is not too big to destroy the spread. Even if you end up paying 100bp in spread you're still making 300bp net gain, or $3,000 after fixed costs, fees, and slippage.
Note: Yes, there are multiple risks involved in this. For example, if Bitfinex HKD and CHF withdrawals are also delayed, that's a big problem, the whole play relies on fiat-out being smooth on Bitfinex. Additionally, if the price volatility starts swinging around right after you buy the BTC, that narrows your profit margin as well (you can hedge risk either in futures or shorting on Bitfinex with other capital).
Disclaimer: This is not investment advice, it is merely a theoretical description of an arbitrage model in action for current price imbalances in bitcoin spot markets.
submitted by theswapman to BitcoinMarkets [link] [comments]

Health FX TOKEN.

Health FX is leveraging over eight years of success in healthcare facilitation and creating a distributed technology platform that provides curated and quality-optimised healthcare for everyone.
The Health FX platform will uniquely combine Artificial Intelligence (A.I.) and blockchain technology allowing for matching individual patient requirements with practitioner services, whilst eliminating all of the points of friction that exist in today’s healthcare ecosystems.
The HFX token, used within the Health FX platform, will power a real-time service to maximise patient care from thousands of international healthcare providers, tokenised payments that eliminates cross-border foreign exchange arbitrage, reduced fraud risk and the seamless integration of insurance providers in providing maximum effective, efficiency and peace of mind to all stakeholders.
Health FX is a trademarked brand of Health Fyx Pte. Ltd., a registered company in Singapore (UEN:201014286D). Global Health and Travel is a fully owned existing brand of Health Fyx Pte Ltd. www.globalhealthandtravel.com
Health FX has been launched as a decentralised global healthcare platform built on the Ethereum blockchain (the ‘Health FX platform’ or ‘platform’). The Health FX platform has been designed to replace traditional healthcare engagement models by intelligently matching the best possible care provider to a specific patients’ needs and completing the coordination of logistics, payment and insurance claims across the largest network of medical professionals throughout Asia, expanding globally.
The Health FX token Pre-Sale beings on 16 June, 2018.
The Token Crowdsale begins on 14 July, 2018 and will continue until it reaches the hard cap of $38M equivalent USD in Ether or Bitcoin or until 29 July, 1:00 p.m. UTC. A fixed volume of one billion HFX tokens will be created in total. No further tokens will be created.
HEALTH FX NETWORK.
Through Global Health and Travel, our network of healthcare professionals is the largest in Asia.
Global Health and Travel (GHT) is the leading Pan-Asia player within the healthcare communications space. The brand provides a premium offering, ranging from editorial content disseminated through mobile, social media, online and print platforms to a highly curated doctor discovery platform of the top regional specialist.
With acquisitions of MedeTravel & TabaDoctor, the firm now provides healthcare concierge services through a team of medically trained case managers. This team is ideally positioned to provide assistance to those seeking basic healthcare options or having enquiries for the most complex of cases, needing attention domestically or abroad.
HFX TOKEN ADVANTAGE.
Blockchain technology enables several key benefits to the Health FX solution. The unique features of blockchain driven smart contracts allow speed, verification, security and permanence that would be otherwise cost prohibitive to implement with legacy technology.
PURPOSE OF HFX TOKEN.
Health FX is offering HFX Tokens to the public for future use on the platform. The following is the purpose of the token, to be integrated in the product roadmap:
A consumptive use token for users to access features within the platform.
A medium of value exchange allowing providers to invoice their services in HFX Tokens.
A loyalty token to reward users who participate in the platform, contributed to them when they perform certain activities in the ecosystem.
A store of value, allowing providers to retain credits in the Health FX platform.
Use of HFX Token.
Access to AI-driven service matching recommendations.
Internal payment for services between platform stakeholders.
Cross-border payments for healthcare services .
Community incentivisation to develop and enhance the ecosystem
The fixed supply of the HFX token is one billion (1,000,000,000), which is defined in a cryptographically binding smart contract and is the primary medium of exchange for products, services and/or incentives within the Health FX ecosystem.
HFX Token Pre-sale begins 16 June 2018 .
Crowdsale begins on 14 July 2018 and will continue until it reaches the hard cap of USD38m in equivalent Ether or Bitcoin, or until 29 July 2018.
HFX Token ICO Details.
Token name: HFX
Total tokens minted: 1 billion HFX
Soft cap: USD 2.8 million
Hard cap: USD 38 million
Tokens on public offering: 650 million HFX Price of HFX
Token: USD 0.20
PLATFORM : Ethereum (ERC-20)
Currency Accepted: ETH, BTC
1 billion HFX tokens will be distributed as follows:
Presale : 11 %
Main SALE : 8 %
Community Bonus : 30 %
Team : 15 %
Reserve : 20 %
Loyalty / HOLD : 10 %
Bounty : 6 %
submitted by Signal693 to u/Signal693 [link] [comments]

NOT A REHASH -- Much more details : Long on Bitcoin: Perseus and Atlas ATS Burnish Digital Currency, Target Market-Makers

Behind Paywall:
Despite recent headline-splashing travails, Bitcoin is steadily gaining reception among the world's largest market-makers and funds like Fort Hill Capital. Atlas, an alternative trading system, and network services provider Perseus are meeting that demand via the ATS's co-locations in New York, Hong Kong, and Singapore. Perseus’ Digital Currency Initiative (DCI) was recently established to implement standards by which Bitcoin (BTC) should be supplied to the trading community. Already with $2 million revenue a little over a month after official launch, DCI is now officially online with Atlas, an ATS using a matching engine across traditional asset classes that works at a speed of 30 millionths of a second (30µs), and which has been working on Bitcoin since April of last year.
Atlas CEO Shawn Sloves says the partnership has come as buy sides are beginning to respond in earnest to demands—both internal and client-driven—to capture Bitcoin’s value and exploit its existing microstructure, known as “walleting.”
"There are probably 40 or 50 firms that have created Bitcoin funds for themselves or clients already," he tells Buy-Side Technology, pointing out Duxbury, Mass.-based Fort Hill Capital Management as one example where fund managers have invested their own money. "The Bitcoin index's value multiplied 56 times last year, the highest increase of any asset class—ever. They want the alpha, while for the traditional market-maker shops in equities and options, it's harder to make money today because of the regional nature of exchanges and the tremendous arbitrage that implies."
Alec Petro, founder and managing partner at Fort Hill, which owns interests across a family of funds and mutual fund companies managing $4 billion, says it's all part of a learning curve. "Obviously, when we first entered the Bitcoin market as an investor, trader, then market maker, we understood well the speculative nature of Bitcoin as an asset. It's very hard to be a market participant without a reasonable stake in Bitcoin, and owning and trading BTC across many exchanges. It's risky, but we believe the risk-reward has been and continues to be attractive, and in the long term has the potential to have huge rewards to larger participants as the market evolves."
First Wave
Also among that first wave of Bitcoin pioneers, Sloves says, are prop shops, some of which will even have programmers writing Bitcoin applications in-house. "At the Securities Technology Analysis Center (STAC) Research conference last year in Chicago, we covered BTC and I was shocked to hear Miguel Rivera, CTO at Sun Trading, and guys from Tradebot Systems were already familiar and trading in Bitcoin in one shape or another," he says. "They're really looking at how to get in, how to do more of it, and going that direction really fast."
So, it's a great time to build a venue; details are the issue. As part of the project, Atlas has built an entirely "cold-storage" omnibus account structure, ensuring that only daily settlements are online at a given time, and uses multi-tiered architecture that is resilient to hackers. Accounting for Bitcoin's fractional shares options, covering its 180 different varieties, and designing a global order book that settles in real-time have all proved challenges too, according to Sloves, as Atlas has added the digital currency to its other markets. "Bitcoin trades much like foreign exchange (FX) or commodities, in that its value is in storage. Trading in Bitcoin US Dollar or Euro acts a lot like FX pairs," he says. "The other piece for Atlas, in supporting traditional options, futures, and FX, is that there will be a real need to leg-in or out of orders, or enabling a Bitcoin-fiat conversion, for example, so we have integration with 20 ECNs and banks, and soon we'll be launching BTC derivative products like options and futures that help with hedging Bitcoin's price."
Achieving Stability
The focus, then, is on two different types of market participants: market-makers accumulating trading positions throughout the day on one hand, and investors like Fortress Investment Group, who were in early consultations with Atlas, on the other.
"With options, market-makers can create a market-neutral position; for example, if they're long on Bitcoin, they can run calls or put positions to hedge that exposure," Sloves says. "Likewise for a firm like Fortress, which will run a program over the course of 24 hours, see where they end up and then leg-in another contract to deal with leftover currency risk. Having those tools available will help Bitcoin's long-term adoption." Fort Hill's Petro—who previously headed up BNP Paribas' global FX derivatives business—says a venue like Atlas can potentially provide more liquidity and transparency in Bitcoin by aggregating multiple exchanges and enabling larger market players to take larger positions quicker with less market turbulence, thus reducing overall BTC volatility. "Hopefully as these markets evolve, and even get regulated, which we are hoping for, this increase in liquidity will reduce volatility—although it has gone down a lot already over the past six months, even though it doesn't seem like it—to a place where new market participants will feel comfortable to enter. We believe there will be a lot of demand for Bitcoin and BTC derivatives and options as the price continues to stabilize. We are in that process now, and we think it will continue as the market sheds its bad actors. With each exit of these bad actors, the market stabilizes more and more. BTC derivatives also allow market participants to hedge positions when they want; this will add more stability to the markets as well."
'Die Hard'
All of that can only happen, though, if underlying IT is made to feel safe. Counterparty identification, for know-your-customer (KYC) and anti-money laundering (AML) requirements, has risen in priority as criminal elements have presented themselves in the Bitcoin conversation. Protecting cold storage has, too.
Original Bitcoin exchanges—including the now-infamous defunct Mt. Gox—were designed with a single "hot wallet" that transfers all Bitcoins to cold storage; the “keys” to the cold storage could be compromised and stolen if the hot wallet were penetrated. Atlas went out of its way to design its architecture such that those keys can be dispersed across more than a thousand separate wallets.
Then there was connectivity, for which Perseus' DCI and 60 Hudson Street datacenter proved an ideal match. Jock Percy, Perseus CEO, points out that Atlas will be run off an entirely private network and a physical connection will be required to tap into the venue—all considerations that regulators have been keen to observe, even if oversight responsibility for the currency remains to be settled.
“We wanted to be really open about how we're doing this, providing not just a sense, but a real look into what we want to provide, and how it's delivered,” Percy says. “It could be done, but to disrupt our operations as built, you would have to pull off a Die-Hard-style heist. The reason why we need to keep dialogue open is that we really want this to succeed. Of course, there are profit opportunities for us in it, but however clichéd it might sound, there's also the chance for this to eventually change the way the world transacts." The Bottom Line Atlas ATS and Perseus have partnered on a full-fledged Bitcoin offering for capital markets trading, including proprietary cold-storage and walleting integration and the eventual integration of derivatives based around the currency.
The partnership is driven by increased demand from both electronic traders and institutional investors looking to derive alpha and benefit from increased liquidity demands not already met by existing Bitcoin exchange venues.
Original Link: http://www.waterstechnology.com/buy-side-technology/analysis/2333353/perseus-and-atlas-ats-burnish-bitcoin-trading-target-buy-side
submitted by bitcoinbravo to BitcoinMarkets [link] [comments]

NOT A REHASH -- Much more details : Long on Bitcoin: Perseus and Atlas ATS Burnish Digital Currency, Target Market-Makers

Behind Paywall:
Despite recent headline-splashing travails, Bitcoin is steadily gaining reception among the world's largest market-makers and funds like Fort Hill Capital. Atlas, an alternative trading system, and network services provider Perseus are meeting that demand via the ATS's co-locations in New York, Hong Kong, and Singapore.
Perseus’ Digital Currency Initiative (DCI) was recently established to implement standards by which Bitcoin (BTC) should be supplied to the trading community. Already with $2 million revenue a little over a month after official launch, DCI is now officially online with Atlas, an ATS using a matching engine across traditional asset classes that works at a speed of 30 millionths of a second (30µs), and which has been working on Bitcoin since April of last year.
Atlas CEO Shawn Sloves says the partnership has come as buy sides are beginning to respond in earnest to demands—both internal and client-driven—to capture Bitcoin’s value and exploit its existing microstructure, known as “walleting.”
"There are probably 40 or 50 firms that have created Bitcoin funds for themselves or clients already," he tells Buy-Side Technology, pointing out Duxbury, Mass.-based Fort Hill Capital Management as one example where fund managers have invested their own money. "The Bitcoin index's value multiplied 56 times last year, the highest increase of any asset class—ever. They want the alpha, while for the traditional market-maker shops in equities and options, it's harder to make money today because of the regional nature of exchanges and the tremendous arbitrage that implies."
Alec Petro, founder and managing partner at Fort Hill, which owns interests across a family of funds and mutual fund companies managing $4 billion, says it's all part of a learning curve.
"Obviously, when we first entered the Bitcoin market as an investor, trader, then market maker, we understood well the speculative nature of Bitcoin as an asset. It's very hard to be a market participant without a reasonable stake in Bitcoin, and owning and trading BTC across many exchanges. It's risky, but we believe the risk-reward has been and continues to be attractive, and in the long term has the potential to have huge rewards to larger participants as the market evolves."
First Wave
Also among that first wave of Bitcoin pioneers, Sloves says, are prop shops, some of which will even have programmers writing Bitcoin applications in-house. "At the Securities Technology Analysis Center (STAC) Research conference last year in Chicago, we covered BTC and I was shocked to hear Miguel Rivera, CTO at Sun Trading, and guys from Tradebot Systems were already familiar and trading in Bitcoin in one shape or another," he says. "They're really looking at how to get in, how to do more of it, and going that direction really fast."
So, it's a great time to build a venue; details are the issue. As part of the project, Atlas has built an entirely "cold-storage" omnibus account structure, ensuring that only daily settlements are online at a given time, and uses multi-tiered architecture that is resilient to hackers. Accounting for Bitcoin's fractional shares options, covering its 180 different varieties, and designing a global order book that settles in real-time have all proved challenges too, according to Sloves, as Atlas has added the digital currency to its other markets.
"Bitcoin trades much like foreign exchange (FX) or commodities, in that its value is in storage. Trading in Bitcoin US Dollar or Euro acts a lot like FX pairs," he says. "The other piece for Atlas, in supporting traditional options, futures, and FX, is that there will be a real need to leg-in or out of orders, or enabling a Bitcoin-fiat conversion, for example, so we have integration with 20 ECNs and banks, and soon we'll be launching BTC derivative products like options and futures that help with hedging Bitcoin's price."
Achieving Stability
The focus, then, is on two different types of market participants: market-makers accumulating trading positions throughout the day on one hand, and investors like Fortress Investment Group, who were in early consultations with Atlas, on the other.
"With options, market-makers can create a market-neutral position; for example, if they're long on Bitcoin, they can run calls or put positions to hedge that exposure," Sloves says. "Likewise for a firm like Fortress, which will run a program over the course of 24 hours, see where they end up and then leg-in another contract to deal with leftover currency risk. Having those tools available will help Bitcoin's long-term adoption." Fort Hill's Petro—who previously headed up BNP Paribas' global FX derivatives business—says a venue like Atlas can potentially provide more liquidity and transparency in Bitcoin by aggregating multiple exchanges and enabling larger market players to take larger positions quicker with less market turbulence, thus reducing overall BTC volatility. "Hopefully as these markets evolve, and even get regulated, which we are hoping for, this increase in liquidity will reduce volatility—although it has gone down a lot already over the past six months, even though it doesn't seem like it—to a place where new market participants will feel comfortable to enter. We believe there will be a lot of demand for Bitcoin and BTC derivatives and options as the price continues to stabilize. We are in that process now, and we think it will continue as the market sheds its bad actors. With each exit of these bad actors, the market stabilizes more and more. BTC derivatives also allow market participants to hedge positions when they want; this will add more stability to the markets as well."
'Die Hard'
All of that can only happen, though, if underlying IT is made to feel safe. Counterparty identification, for know-your-customer (KYC) and anti-money laundering (AML) requirements, has risen in priority as criminal elements have presented themselves in the Bitcoin conversation. Protecting cold storage has, too.
Original Bitcoin exchanges—including the now-infamous defunct Mt. Gox—were designed with a single "hot wallet" that transfers all Bitcoins to cold storage; the “keys” to the cold storage could be compromised and stolen if the hot wallet were penetrated. Atlas went out of its way to design its architecture such that those keys can be dispersed across more than a thousand separate wallets.
Then there was connectivity, for which Perseus' DCI and 60 Hudson Street datacenter proved an ideal match. Jock Percy, Perseus CEO, points out that Atlas will be run off an entirely private network and a physical connection will be required to tap into the venue—all considerations that regulators have been keen to observe, even if oversight responsibility for the currency remains to be settled.
“We wanted to be really open about how we're doing this, providing not just a sense, but a real look into what we want to provide, and how it's delivered,” Percy says. “It could be done, but to disrupt our operations as built, you would have to pull off a Die-Hard-style heist. The reason why we need to keep dialogue open is that we really want this to succeed. Of course, there are profit opportunities for us in it, but however clichéd it might sound, there's also the chance for this to eventually change the way the world transacts." The Bottom Line Atlas ATS and Perseus have partnered on a full-fledged Bitcoin offering for capital markets trading, including proprietary cold-storage and walleting integration and the eventual integration of derivatives based around the currency.
The partnership is driven by increased demand from both electronic traders and institutional investors looking to derive alpha and benefit from increased liquidity demands not already met by existing Bitcoin exchange venues.
Original Link: http://www.waterstechnology.com/buy-side-technology/analysis/2333353/perseus-and-atlas-ats-burnish-bitcoin-trading-target-buy-side
submitted by bitcoinbravo to Bitcoin [link] [comments]

Bitcoin at New Yearly Highs

Bitcoin prices hit a new yearly high of $583.76 today. We are currently quoted almost 8 percent higher compared to one week ago. Litecoin is again following BTC, up by 31 cents or 6.8 percent since last Tuesday.
Bitcoin Hits New Yearly Highs
Bitcoin hit a another yearly high of $583.76 on FxOpen today. On other major exchanges we saw highs of $592 and even $603 dollars per coin. During volatile times like the past few weeks, you will see large price discrepancies between the different exchanges. But as markets trade a bit calmer, arbitragers will tend to close these gaps.
For traders, it’s important to note that prices on FxOpen are less reactive and ’emotional’ compared to other exchanges. During strong rallies prices here will usually lag the market. In the past week we saw a discount of $20-$30 dollars below the major exchanges. But because the last few days have been somewhat slower, this gap is now down to only $8 dollars. The reverse is true during sharp declines. Here you’ll see FxOpen prices lag again, not falling as fast as other sites. During crashes you could even see prices trade at a premium for a short period of time. The usual discount to the general BTC market is $2-$3 dollars. Imgur Read More https://blog.fxopen.com/bitcoin-at-new-yearly-highs/
submitted by izveniklickov to CryptoMarkets [link] [comments]

Bitcoin Rally Hangs by a Thread After Crash

Bitcoin flash-crashed 30 percent on a cleared orderbook. Meanwhile alternative cryptocurrency Litecoin stayed mostly flat since last Friday. But as usual let’s start with big brother first.
Bitcoin Flash-Crashes 30 Percent
Bitcoin flash-crashed close to 30 percent in 2 minutes. The crash happened due to a large sell order on the BTC-E orderbook. This market order cleared the entire buy side all the way down to $194 dollars per coin.It only took 2 minutes to go from $276 to $194 dollars, a fall of 30 percent. Then the arbitrage bots took advantage of the opportunity and bought up the cheap BTC-E coins. Because FxOpen sources its data from BTC-E, we saw identical decline on its platform as well. Read More https://blog.fxopen.com/bitcoin-rally-hangs-by-a-thread-after-crash/
submitted by izveniklickov to CryptoMarkets [link] [comments]

BTC MOVE Arbitrage How to PROFIT from ARBITRAGE TRADING explained! Arbitrage Forex Software - YouTube Cryptocurrency arbitrage trading bot, auto bitcoin earning Trading bitcoins BITFINEX, BITSTAMP, BIT Bitcoin arbitrage platform  Video 2 of 3

Bitcoin remains the most valuable and talked about cryptocurrency, as well as the most actively traded on exchanges. Launched in 2009, this digital asset's price has fluctuated wildly over the Bitcoin Arbitrage (Bitarb.com) is an crypto investment solution which claims to make you a millionaire within few months of joining them. They are said to generate returns of 3% per day with no risk associated and even offer compounding on the investments. The returns claims are all fake and their whole platform are just a bunch of fabricated stories and misleading information bundled together. Bitcoin Trading Arbitrage Guide by Trader "Swapman" Disclosure: We are a professional and educational website for bitcoin servies that sometimes receives compensation from the companies whose products we review or discuss. We test each product thoroughly and are fully independent in our recommendations and information presented. Bitcoin Code is a bitcoin trading robot that claims to help ordinary traders make huge returns on their bitcoin investment with an investment as little as $250. The robot was founded by Steve Tether (USDT) is a leading stable coin, with a total circulation of 2.826 billion USDT, each being worth roughly USD 1, as of this writing on 22 August 2018.The number of USDT in circulation has skyrocketed by billions of USD in the past year and continues to rise, as it’s become a good alternative to USD on exchanges where USD is not available.

[index] [18347] [8173] [18508] [37463] [46664] [8643] [8096] [37368] [29603] [28208]

BTC MOVE Arbitrage

This is a type of arbitrage that can lead to great consistent returns when executed properly. ... Bitcoin Trading Challenge 12,409 ... $590 In 2 Hours Trading Forex Currency Bitcoin And ... Cryptocurrency arbitrage trading bot, auto bitcoin earning Trading bitcoins BITFINEX, BITSTAMP, BIT Agnes James. ... 95% Winning Forex Trading Formula - Beat The Market Maker📈 - Duration: ... Arbitraging cryptocurrencies is a unique way of increasing your Bitcoin or Ethereum stack with NO significant risk. There are a bunch of different types of arbitrage methods. I’ll tell you the 3 ... Forex arbitrage expert advisor Newest PRO - unique in its kind trading system that allows for fractions of a seconds look to the future . ... Bitcoin trader software, cryptocurrency arbitrage ... Bitcoin for Beginners 22,448 views. ... "Basic Statistical Arbitrage: Understanding the Math Behind Pairs Trading" by Max Margenot - Duration: 54:51. ... Technical FX 54,433 views. 9:26.