Overstock.com, Inc. [SWOT Analysis] Weighted SWOT Matrix

Cryptocurrency News: 5 Benefits of Crypto Payments

The demand from consumers is increasing as the benefits of digitally native payments are becoming more apparent. Crypto can save both customers and businesses money and time and can also increase the security of transactions.

Crypto payments may not be mainstream yet, but more and more businesses are responding to the growing trend and are now accepting crypto payments either directly or indirectly through a third party.

For example, online retailer Overstock accepts crypto payments directly from any customer, around the globe instantly.

Overstock: Benefits of Bitcoin Purchases
Overstock was one of the first major retailers to accept Bitcoin in 2014 and has continued to make a name for itself in the crypto space launching its own blockchain based capital markets solution, tZero. Others such as Microsoft, Dish, and Shopify have followed, accepting crypto payments in exchange for their goods and services.

Keep reading to learn how crypto payments offer benefits above fiat from the analysis of https://www.m8x.com/

For Customers...

Less Fees
Banks make a lot of money off of your money. They charge fees for a variety of services like credit cards, savings accounts, ATM deposits and withdrawals, and more.

Managing your funds in a crypto wallet versus a bank offers significant savings. In most cases, opening and holding a crypto wallet, unless one chooses to purchase a hardware crypto wallet or prepaid card, and using it for crypto payments is completely free. Of course, this largely means that maintaining custody and responsibility of your crypto (through keys, seeds, hardware, or otherwise) is almost entirely up to you.

Owned Data
Financial institutions and retailers collect and retain a wide range of customer’s personal and financial information. Your bank tracks anything from your name, address and social security number to your net worth, investments, account balances, and credit score. On the other side of the transaction, retailers are collecting your browsing and purchasing history as well as your basic personal information.

With crypto, the only data needed to process payments is two strings of numbers – the customer’s address and the recipient's address. Of course, crypto transactions aren't completely anonymous because most blockchains are public, and personal information like your name and address are often still collected by retailers. Despite this, crypto transactions collect and retain significantly less personal information than standard credit card transactions.

The fewer intermediaries involved in a transaction, the fewer opportunities there are for your data to be commercialized. Not to mention, by making transactions peer-to-peer, business yield more profit and are less pressured to gain revenue through sales of customer data.

Borderless Payments
Crypto assets are borderless by nature. Bitcoin, for example, isn’t owned by a centralized body or issued by a single country. It’s decentralized which means it’s also global. Crypto payments can instantly cross borders with minimal fees and without the need for an intermediary like a remittance business or a bank. All that’s needed to process an international payment is an internet connection and a device like a cell phone or laptop.

Removing the third party from the equation opens the doors for millions of people around the globe without access to banks (“the unbanked”), giving them access to the global economy. The opportunity for crypto payment adoption in places like Nigeria where an estimated 100 million people have access to the internet, mostly through mobile devices, but only 31 million hold bank accounts, is huge.

For Businesses...

No Charge Backs
The current electronic payment system forces businesses to take a substantial risk when processing payments. When you purchase something with a credit card, you’ll often see your transaction as pending on your statement. That’s because your payment isn’t actually as instant as it appears. It has to travel between a customer, two banks, then finally, to the merchant.

The lack of speed and the need for multiple parties gives customers the chance to take an item only to cancel their payment before it’s processed, leaving the business high and dry. With a crypto payments, it can't be reversed once it is processed. It’s instant and permanent, which means companies don’t have to worry about chargebacks.

Loyal Customers
CheapAir – an American online travel agency – has reportedly processed more than $5 million in Bitcoin payments since 2013. The CEO of CheapAir Jeff Klee told Forbes that he likes "customers who pay in crypto because they are loyal." He also noted that they’re more likely to “buy higher ticket items.”

Many crypto users are seeking out businesses that accept crypto and are likely to be loyal to those who do. Not to mention, studies predict crypto assets could be used as a mainstream means of payment in the next decade. Businesses that get ahead of the curve will likely reap the benefits of mass adoption.

While crypto payments have a long way to go both in terms of adoption and scalability, the benefits to both businesses and customers are significant enough to radically improve the way transactions are conducted globally.
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How does the Blockchain Technology Change the Finance?

01 Through Cross-Border Payment , New Asset Types and other Regulatory Compliance Many large banks, central banks, financial institutions, idea banks, inquiry companies and the futurology reasearch laboratory of government committee all raise their questions on this issue.
R3CEV, an organization which is composed of the large banks in the globe, is trying to make explanation on this issue. The Goldman Sachs, McKinsey and Consumers’ Research had been put forward fabulous reports based on this issue, while the UK government, the US senate, Canada, Australia and European Union also carry out related surveys on it.
Many startup companies has made the white paper for the innovation and application of blockchain technologies, among which will mention a larger social issue, “How does this technology change the society?”
Plenty of studies underline the following four major changed fields:
02 The Infrastructure of Cross-Border Transactions
As we all know, the digital revolution has changed the media thoroughly, which will also have influence on the financial industry to some degree. Besides, the financial organizations had been used the computer long before. From 1970s to 1980s, they set the computer as their databases, take advantage of the computer to create the website interface in 1990s and shift their focus on developing the mobile App in 21rst century. However, the digital revolution has little influence on the cross-border transaction. The West Union still remains big problems, since it uses the same business to operation related programs. Like the easy operation of cross-border remittance, the bank still use the complicated infrastructure to operate it.
The information chart below is provided by Richard Gendal Brown, it displays the development of cross-border business infrastructure and intermediary organs from 1970s till now. This structure is the outcome caused by the financial industry applying the high-security protection system on private database.
The Blockchain technology is to construct the direct relation between the financial institutions and does not need the correspondent banking any more. The main product of R3 aims at deal with the business of correspondent banking. Corda is consisted of two vocabulary “accord” and cord. In the case of Corda, the circle is composed by the banks which uses the shared account book and those banks use the shared account book to deal with the transactions, agreement and important documents.
Mr. Brown used to work in the IBM’s Blockchain project and then shift to the R3CEV. The competition between financial organizations can use the universal database to track the implement of transactions, liquidation and clearing without involving any central database or management system. In a nutshell, banks will be able to formalize and protect each other’s digital relationships in the way that were previously impossible to implement. In the description mentioned above, it means that the correspondent banking agreements and the Real Time Gross Settlement, RTGS will be replaced. Transactions can be carried out in the P2P smoothly. Ripple, a private link, is used to solve many of these issues.
c As a Classification Digital Asset
Bitcoin has created some special things: digital property. Before the Bitcoin, word “digital” is not rare. Any digitization stuff can be copied through a click button and it can be proved in the musical industry and album sales.
However, bitcoin does something fancy: it create a digital code that can’t be copied. Therefore, since the invention of the bit character, we have the way to copy the number for the first time, which gives the digital code a kind of value. Until now, the value bitcoin is based on the blockchain to prevent the double cost and fake coin. Concerning this point, the creator of blockchain create the coloured coins as company’s shares. The 'color' of these coins represents the ownership information provided by the private encryption key.
After the permission of U.S. Securities and Exchange Commission, SEC, the online retailer giant Overstock declare that Announced that it will publicly issue company shares on its own blockchain platform. We also saw the emergence of “Initial Coin Offering (ICO)” and “appcoins” (the native cryptocurrency of applications used to assist project development financing). This case are part of blockchain digital asset. Blockchain can be considered as the digital asset as well as the market operation itself. Basically, this digital asset can be regarded as the bearer instrument, a extensive and ingenious application.
04 Management and Market
For the regulators, the blockchain can be a completely transparent and suitable recording system. Once coded, they can also be used to authorize transactions that comply with regulatory filings. For example, banks have strict reporting obligations to institutions such as the Financial Crimes Enforcement Network (FinCEN). As long as the bank approves any transaction that exceeds $10,000, it will need to report it to FinCEN, and FinCEN will store the information as an anti-money laundering database.
06 Clearing and settlement
For the paper world transactions, the time frame for clearing and settlement transactions is usually “T+3” - that is, three days after the transaction.
Through blockchain technology, the entire trading cycle—execution, clearing, and settlement—can occur in the same step. Under digital assets, transactions mean settlement, and mastery of encryption keys and digital ownership, which can reduce post-trade latency and counterparty risk of the other party's non-compliance.
07 Accounting and auditing
Although most databases are snapshots at a certain point in time, the blockchain database is constructed based on its own transaction history. They are a database with context, history, and independent records. This has far-reaching implications for accounting and auditing.
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RavenCoin Is Offering an Exciting Development

RavenCoin Is Offering an Exciting Development


News by Altcoin Buzz: David Abel
Peer-to-peer blockchain platform, Ravencoin, has announced plans to release a Raven membership coin via its twitter handle.
The new Ravencoin membership tokens will purportedly bring along incredible features. Firstly, “the tokens can be sent ONLY ONCE.”
Therefore, users can be confident that the wallet belongs to the same person.
Project Raven / RVN / [email protected] 1) The new membership tokens coming live in Ravencoin soon are able to do some powerful stuff: The tokens can be sent ONLY ONCE — this means the sender can have confidence that the wallet is the same person they sent to This has huge possibilities for both regulated use cases 74 10:30 PM — Sep 22, 2019 Twitter Ads info and privacy
33 people are talking about this
Accordingly, this brings huge possibilities for both regulated use cases, like AML / KYC. Thus, a company can create a membership or trading network for people the issuer wants in a network.
Project Raven / RVN / [email protected] · 19h 1) The new membership tokens coming live in Ravencoin soon are able to do some powerful stuff: The tokens can be sent ONLY ONCE — this means the sender can have confidence that the wallet is the same person they sent to This has huge possibilities for both regulated use cases Project Raven / RVN / [email protected] 2) such as AML / KYC — where a company can create a membership or trading network for people the issuer wants in a network And also for non regulated and more cypherpunk use cases which need true censorship resistance — such as a group of activists or dissidents 35 10:30 PM — Sep 22, 2019 Twitter Ads info and privacy
See Project Raven / RVN / Ravencoin’s other Tweets
Non-regulated and more cypherpunk use cases are another type. They reportedly need true censorship resistance like a group of activists or dissidents.
Project Raven / RVN / [email protected] · 19h Replying to @Ravencoin 2) such as AML / KYC — where a company can create a membership or trading network for people the issuer wants in a network And also for non regulated and more cypherpunk use cases which need true censorship resistance — such as a group of activists or dissidents Project Raven / RVN / [email protected] 3) RVN assets can be set up to only allow transfer to those wallets who hold the membership token Combine this with IPFS and messaging and we have a robust and powerful network for sending files, documents, securities or other items of value on an open and strong network / 48 10:30 PM — Sep 22, 2019 Twitter Ads info and privacy
15 people are talking about this
Secondly, existing membership tokens wallets are the restricted receivers of the RVN assets. Consequently, when combined with IPFS and messaging it gives users a robust and powerful network for sending files, documents, securities or other items of value on an open and strong network.
The news brought about positive comments from the followers. For instance, Bruce Fenton said: “That’s a real thing! Coming soon.” Concurrently, James McCue wrote: “I want the membership token that lets me stay at @brucefenton’s house! I love this project… if only I got my shit together and studied more. Tough with a fulltime gig”.
For new readers, you can find out more about Ravencoin here.
Ravencoin partnerships
Since its inception, the coin has joined forces with several big players.
In June, Ravencoin was listed by Binance’s official non-custodial wallet app, Trust Wallet. Before then, the Raven Protocol team announced it would be joining the top crypto platform Binance Chain to exploit the full potential of Artificial Intelligence.
Last month, cryptocurrency platform tZERO announced its support for Ravencoin. Thus, adding it to the list of cryptocurrencies supported by its wallet and mobile trading app.
Ravencoin (RVN) is a small cryptocurrency. The CEO of Overstock started it when he invested millions into its development. The coin was created about 7 years ago and is a fork of Bitcoin.
The platform enables tokenized P2P asset transfers on the blockchain. The RVN tokens can be used to create fungible or nonfungible digital assets, as well as non-asset-based tokens like the VOTE.
submitted by GTE_IO to u/GTE_IO [link] [comments]

WolfpackBOT - The world's fastest and most secure trading bot

WolfpackBOT - The world's fastest and most secure trading bot

https://preview.redd.it/n7wutgsuzfd21.png?width=800&format=png&auto=webp&s=d0dac7147b8e70584305f997732a248d6b088ff9

INTRODUCTION

Cryptocurrency is essentially digital money traded from one person to another through the use of pseudonyms. There are no intermediaries like banks, no governmental oversight or authority, and no fees. The “crypto” in cryptocurrency refers to the use of cryptography to ensure the security and privacy of every transaction.
New coins are created through a technique called mining. The process requires powerful computers that solve complex math problems. Each problem should take about 10 minutes to solve, and results in the creation of a predetermined number of coins. The total number of coins that can be created is fixed — there’s a limit of 21 million bitcoins that can be created. The number of coins rewarded for solving each problem dwindles as time goes on.
Bitcoin is believed to have been created in 2009 by Satoshi Nakamoto, an enigmatic figure who has so far proven all but impossible to definitively identify. By using cryptography to control the creation and tracking of a digital currency, Nakamoto took that power away from central authorities like governments.
Bitcoin was the first and most famous digital currency, but you can choose from more than 1,500, including ether, litecoin and even cryptokitties. For awhile, you saw these currencies only in the darkest corners of the internet, where people used them for all sorts of questionable, even illegal, activities. Drug dealers liked them because they made transactions all but invisible, and trolls at the Kremlin-backed Internet Research Agency used bitcoin to finance their campaign to influence the 2016 election.
That started to change in 2014, when Overstock became the first major US retailer to accept bitcoin. Companies like Expedia and Microsoft followed suit.
One of the biggest misconceptions about cryptocurrencies is that you need thousands of dollars to invest. It’s an easy assumption to make, especially in the case of bitcoin, which stayed under $1,000 from about 2010 to 2017. But then it took off, surpassing thousand-dollar milestones at a pace that seemed quicker than you could refresh your phone.
The staggering value is off-putting to many. But unlike most stocks, you can buy a fraction of a bitcoin so you don’t need thousands to get into the crypto game.

OVERVIEW OF WolfpackBOT

WolfpackBOT is a highly advanced cryptocurrency trading software that allows for the execution of trades at lightning speed using proprietary trading algorithms, proprietary “Werewolf” Trading Analysis configurations, or user customized settings based on personal trading style. WolfpackBOT also allows for simultaneous trading access to all compatible cryptocurrency exchanges that are available to the bot, and all trading pairs with the WerewolfBOT subscription package.
WolfpackBOT is introducing an industry first, a beautiful automated cryptocurrency trading console: The WolfBOX. This efficient and sleek piece of hardware will conveniently allow for the full utilization of a bot subscription without the need for a VPS or dedicated computer. The WolfBOX will also include a built-in secure Hardware Wallet and RFID card reader to optimize ease-of-use and functionality.
WolfpackBOT trading software is enabled with limit, market, and “Wolf Trade” orders on all trading candles, including one-minute candles, with the widest array of technical trading indicators available on the market. WolfpackBOT's proprietary “Wolf Trade” orders provide superior market sell orders with a bite! WolfpackBOT is the only trading bot to feature live price scanning on your positions and also handles partial fills with ease, meaning you don’t miss out on orders. WolfpackBOT is incredibly fast and can fulfill up to 10,000 trades per day depending on market conditions and subscription package.
WolfpackBOT allows simultaneous trading access to all cryptocurrency exchanges that are available to the bot, and all trading pairs through the WerewolfBOT subscription plan. Not only do inferior bots allow limited access to one exchange and one trading pair per bot, they also store your API keys remotely on servers which are potentially susceptible to hacks and pump and dump attacks. User security and API key protection holds a high priority within the WolfpackBOT framework which is why it is the only trading bot that gives users full control with local management of their API keys.
Masternode and Proof of Work X11 Blockchain
Wolfcoin Blockchain with X11 Proof of Work Mining and Masternode Reward Systems The Wolfcoin blockchain and network are both designed and engineered to ensure store of value, transactional speed and security, and fungibility. The main goal of the Wolfcoin blockchain is to facilitate fast and secure transactions with a governance that helps sustain the network for the benefit of all users. The Wolfcoin blockchain is a two-tier network comprised of a Proof of Work (PoW) consensus mechanism powered by miners and a Proof of Service (PoSe) system powered by masternodes.
The Wolfcoin blockchain is secured through Proof of Work (PoW) in which miners attempt to solve difficult problems with specialized computers. When a problem is solved, the miner receives the right to add a new block to the blockchain. If the problem was solved correctly, the miner is rewarded once the block is added.
The second tier, which is powered by masternodes, enables Wolfcoin to facilitate private and instant transactions with Private Send and Instant Send. Masternodes are also rewarded when miners discover new blocks.
The block reward is distributed with 80% going to the masternodes and 20% going to miners. The masternode system is referred to as Proof of Service (PoSe), since the masternodes provide crucial services that support the features of the network.
Masternodes also oversee the network and have the power to reject improperly formed blocks from miners. If a miner tried to take the entire block reward for themselves, the masternode network would orphan the block ensuring that it would not be added to the blockchain.
In short, miners power the first tier, which is the basic sending and receiving of funds and prevention of double spending. Masternodes power the second tier, which provide the added features that make Wolfcoin different from other cryptocurrencies. Masternodes do not mine, and mining computers cannot serve as masternodes.
Additionally, each masternode is “secured” by 10,000 WOLF. Those WOLF remain under the sole control of their owner at all times. The funds are not locked in any way; however, if enough of the funds are moved or spent to cause the user’s holdings to drop below 10,000 Wolfcoin, the associated masternode will go offline and stop receiving rewards.
By pre-ordering your WolfpackBOT subscription, you will also receive Wolfcoin as a reward that can be utilized in the following ways:
  • Redeemable for WolfpackBOT subscriptions
  • Redeemable for the WolfBOX Console
  • Redeemable for WolfpackBOT and Wolfcoin apparel and merchandise
  • Fungible utility that can be exchanged for like value on exchanges
When you hold at least 10,000 Wolfcoin in your Wolfcoin wallet connected to a static IP address, you will become a masternode, meaning you will have a chance to receive 80 percent of the block reward every sixty seconds.

THE FEATURES

WolfpackBOT Automated Trading Software:

After the crowdsale, Wolfcoin will be the exclusive method of payment for WolfpackBOT Automated Trading Software subscriptions.

Multiple Technical Analysis Indicators:

WolfpackBOT offers the widest array of multiple Technical Analysis indicators, oscillators, configurations and settings available in the world of Automated Cryptocurrency Trading Bots. WolfpackBOT provides Bollinger Bands, Double EMA, Elliot Wave, EMA, EMA Cross, Fibonacci Sequence, KAMA, MA Cross, MACD, RSI, SMA, Stochastic, Stochastic RSI, Triple EMA, and many more!

Shorting Features:

WolfpackBOT includes Cryptocurrency Shorting Features that allow users to short their positions and buy them back at the lower price to maximize their returns.

Copyrighted Crash Protection:

Crash Protection, one of WolfpackBOT's most advanced features, enables users the option to automatically scan and convert all positions to a stable coin at the sign of our proprietary Hidden Bear Divergence Indicator, and then buy back into base currency to resume trading at the sign of our proprietary Hidden Bull Divergence Indicator.

Language Translator:

WolfpackBOT has a built in Language Translator that instantly translates the entire BOT into Dutch, English, French, German, or Spanish.

All Trading Pairs on all available Exchanges:

WolfpackBOT allows our customers to simultaneously trade on multiple cryptocurrency exchanges, and with all the exchange’s trading pairs available for trading. The best part is that it’s all possible on one bot with one subscription to the WerewolfBOT package!

Coin Selector:

While other automated trading platforms only allow for a limited amount of coins per subscription, WolfpackBOT allows all trading pairs and all coins to be traded on all the available major exchanges with the WerewolfBOT subscription. WolfpackBOT's proprietary Coin Selector allows for users to choose whether to trade all cryptocurrencies or blacklist some, thus not trading them at all, as well as search for the highest volume, greatest performing, or a specific volatility range of coins for a given timeframe.

Werewolf Configurations and Settings:

Werewolf Configurations and Settings are copyrighted trading algorithms that use proprietary optimum settings for trading: the perfect configuration for experienced and inexperienced traders alike. These settings can be adjusted to the current market trend, with preset configurations for bear, sideways, and bull markets.

Werewolf Ultimate:

Werewolf Ultimate is the ultimate choice when trading. It doesn't trade a particular trading pair or particular coins, it trades them all. It goes in for the kill to increase the potential returns. Crash Protection is a built-in feature in Werewolf Ultimate.

Werewolf Bull Market:

Werewolf Bull Market are preset settings and configurations that are usable when your Base Trading Pair is in a Bull Run. Werewolf Bull Market settings are optimized for such conditions and should only be used in a Bull Run Market.

Werewolf Sideways Market:

Werewolf Sideways Market are preset settings and configurations that are usable when your Base Trading Pair is trading sideways. Werewolf Sideways Market settings are optimized for such conditions and should only be used in a Sideways Trading Market.

Werewolf Bear Market:

Werewolf Bear Market are preset settings and configurations that are usable when your Base Trading Pair is in a Bear Run. Werewolf Bear Market settings are optimized for such conditions and should only be used in a Bear Run Market.

The WolfBOX Hardware Console:

WolfpackBOT also offers an industry first: a beautiful hardware console, The WolfBOX. Our console comes preloaded with WolfpackBOT Automated Trading Software and also includes a built-in secure hardware wallet. Some of the key features of the WolfBOX include our high-speed CPU, solid-state hard drive, built-in RFID card reader, and integrated Bitpay and Coinbase wallets.

Wolfpack Consulting

Our company offers its services and expertise as Cryptocurrency and Blockchain Specialists to individuals and companies. We offer consulting services in the fields of blockchain and cryptocurrency development and management.

Wolfpack Philanthropy

We are dedicated to the proposition that we have a responsibility to use a portion of our company’s revenue to help create a better world and a brighter future. As we move forward, our philanthropic efforts include environmental stewardship, renewable energy, human rights, economic development, as well as animal and wildlife rescue and conservation with an emphasis on dogs and wolves.

Wolfcoin Information

THE WOLFCOIN Wolfcoin is the coin that fuels all WolfpackBOT's projects.
This utility, coupled with the reward systems with mining and Masternoding capabilities, makes the use of Wolfcoin potentially appealing to all WolfpackBOT users whom are interested in receiving additional Wolfcoin for subscriptions, merchandise and other rewards such as passive cryptocurrency portfolio growth.
THE WOLFCOIN WALLET WolfpackBOT uses our proprietary Wolfcoin Core QT wallet.
February 2018 Conceptual development of WolfpackBOT Software
May 2018 Company Roadmap development Alpha models of WolfpackBOT Software
June 2018 Ongoing research, development, and testing
October 2018 Advertising and Marketing Campaign Starts Wallets available for payment; BTC, BTG, DASH, DOGE, ETC, ETH, LTC October 15 - Pre-registration begins
November 2018 November 1 - Crowdsale Stage I begins
December 2018 Official presentation of WolfpackBOT beta Software Preview Creation of Wolfcoin (WOLF: 300,000,000 coins pre-mined on Genesis Block) WolfpackBOT beta Software release to selected customers
December 21 - Launch network and mine Genesis block
December 22 - PoW / Mainnet
December 23 - Blockchain and network testing
December 28 - Iquidis Wolfcoin Block Explorer released on our website
January 2019 January 1 - Wolfcoin Core wallets available for download on the website January 1 - Wallet and Masternode Tutorial available January 1 - Masternode and PoW instructional videos available January 1 - Subscription Pre-order Coin Rewards disbursed Announcement listing WOLF on top-10 Exchange
February 2019 February 1 - Crowdsale Stage I Ends February 1 - Crowdsale Stage II Begins
March 2019 March 15 - Crowdsale Stage II Ends March 15 - Crowdsale Stage III Begins WolfpackBOT Software roll-out to contributors WolfBOX Console available for Pre-order
April 2019 WolfpackBOT Subscriptions available for customers First Major version released: automated, manual, and paper trading WolfpackBOT Live support center April 30 - Crowdsale Stage III Ends
May 2019 WolfBOX Consoles Pre-orders first shipment
June 2019 New trading features such as new exchanges, strategy options and indicators
July 2019 New trading features such as new exchanges, strategy options or indicators
August 2019 WolfpackBOT Software Trading Platform V2.0 Second major release: Strategy Marketplace and Back-testing
September 2019 New trading features such as new exchanges, strategy options or indicators
October 2019 WolfpackBOT Software Trading Platform V3.0 Third major release: Signals Marketplace (Supporting 3rd Party App Signals) Mobile Application for WolfpackBOT Software and Trading Platform
November 2019 New trading features such as new exchanges, strategy options or indicator
December 2019 WolfpackBOT Software Trading Platform V4.0
January 2020 WolfpackBOT Software Trading Platform V5.0 Fourth major release: Machine Learning Strategy Optimization

THE AMAZING TEAM

Philip Longhurst Chief Executive Officer The leader of our pack and the man behind the WolfpackBOT trading bot, Philip Longhurst is a mathematical genius, engineer, day trader, and animal rescuer. As an account manager for J.P. Morgan and MBNA Bank, Phil managed the accounts of several high-profile clients and businesses. He has been successfully trading stocks for over twenty-five years and has successfully applied his trading expertise and mathematical acumen to the cryptocurrency market since 2013.
Philip holds bachelor's degrees in mechanical engineering and business administration and is a loving husband, father, and family man who has been rescuing dogs since 1995. His driving desire is to use the success of Wolfpack Group to create a brighter future for humanity. He currently resides in the United States of America with his wife, daughter, and dogs.
Rogier Pointl Chief Financial Officer Rogier Pointl is a successful entrepreneur with nearly twenty-five years of experience in business management, marketing, financial administration, economics, and fintech. Rogier holds bachelor's degrees in Business Communications and Financial Administration. He is a pioneer in the field of virtual reality, having served as CEO and owner of Simworld, the first virtual reality racing center in Europe, where he oversaw the development of advanced simulator and virtual reality hardware and software.
Rogier is an experienced trader and has been trading stocks since 2007. He began applying his expertise to the cryptocurrency market in 2010, gaining experience as a Bitcoin miner along the way. Rogier is a loving husband and father and currently resides in the Netherlands with his wife and two daughters.
Jason Cormier Chief Technical Officer Jason Cormier is a humble -but extraordinary- individual who is blessed with a Mensa IQ of 151, he is continually driven by a desire for knowledge and self-growth. He is self-taught in Visual Basics, C#, C++, HTML, and CSS and began developing programs and applications at the age of 14, including the TCB Wallet, which was the first ever wallet program that held its users' log in names and passwords. Jason is a cryptocurrency guru whose expertise includes cryptocurrency mining farms, proof-of-stake, masternodes, and cryptocurrency trading.
Jason holds Associate degrees in Computer Science and Psychology, and currently resides in the United States of America with his wife and son.
Jay McKinney Chief Web Development and Design Officer Jay is a veteran of the Iraq War who put his life on the line in combat to protect our freedoms. To center himself while stationed in the Iraqi warzone, he taught himself C# as he knew honing his Web Development skills would help him provide a better future for himself and his family. Upon returning home safely, he worked his way through college and holds bachelor's degrees in Computer Programming and Web Development & Design.
Jay has worked for the Kentucky Housing Corporation, serving as a software engineer and web developer. He is a loving family man who currently resides in the United States of America with his wife and two children.
David Johnson Chief Software Development Officer David holds a Master of Science degree in Information Systems and a Bachelor's degree in Business Administration with a specialization in Information Systems, graduating with Magna Cum Laude status. He has worked for the Kentucky Housing Corporation, serving as a network analyst and software engineer. As an entrepreneur, he has owned his own web and software development company since 2009, creating and maintaining several websites in C# and PHP, and has been operating the crypto-oriented YouTube channel BigBits since 2017, where he discusses automated Cryptocurrency trading strategies.
David is a proud father of two and resides in the United States of America with his wife and children. Like any good Kentuckian, he is a huge fan of the University of Kentucky's college sports teams.
Gabriel Condrea Software and Web Development Officer Gabriel Condrea holds a bachelor's degree in electrical and computer engineering and has worked as a software developer and senior systems engineer in both the United States and the United Kingdom, working with a variety of programming languages and IDEs. He has used his expertise to create Manufacturing and SCADA systems in industrial applications.
Gabriel also applies his engineering skills to cryptocurrency day trading, seeking to automate the process. He loves to travel and currently resides in the United States with his girlfriend.
Igor Otorepec Chief Hardware Development Officer Igor is an engineer with twenty years of experience specializing in advanced PLC programming and industrial robotics. He is also an IT security expert and a CEC Certified Ethical Cracker who uses his skills to expose and patch security vulnerabilities in blockchain codes.
Igor is an advanced cryptocurrency trader and Kung Fu master who uses bio-hacking as a way of life to keep his 'chi' constantly centered. He currently resides in Austria with his loving wife.
Manik Ehhsan Director of Marketing and Public Relations Manik holds a Bachelor's degree in Computer Science and has over five years of experience in Web Development, Digital Marketing and Graphics Design. He has also managed the marketing for more than 30 successful Cryptocurrency start-ups and projects, and specializes in SEO and ASO. Manik is also a Cryptocurrency project promotion expert with an emphasis on Masternodes and building Social Media Communities.
Manik has focused his life on Cryptocurrency and currently resides in Bangladesh with his loving family.
Rance Garrison Chief Marketing Officer Rance Garrison holds a bachelor's degree in Business Administration and specialized in Seminary Studies for his Master's degree. He served as an AmeriCorps VISTA at WMMT-FM, the radio station owned by Appalshop, an arts and education center in Kentucky, and has also specialized in local cable television advertising. Rance is also a musician who has released several albums independently over the last decade.
Rance is very dedicated to his local community and is most excited by the potential implications of cryptocurrencies and blockchain technology for rural and remote economies. He currently resides in the United States of America with his wife, dog, and cats.
Paul Gabens Chief Public Relations Officer A master negotiator with a penchant for strategy, Paul Gabens brings more than twenty years of marketing and promotional experience in the automotive, hospitality, and entertainment industries to the Wolfpack. He is also an avid stock and cryptocurrency trader, having first entered into the cryptocurrency market two years ago, embracing his passion for crypto with the same vigor as his love for travel, classic cars, extreme roller coasters, and surfing.
Paul holds degrees in business management, marketing, and automotive aftermarket. He currently resides in the United States with his fiancé and two cats.
Blake Stanley Marketing and Social Media Officer Blake Stanley is a cryptocurrency enthusiast who also has over six years of experience managing both government and private sector client and customer relations. A strategic thinker and expert in the field of social media-based advertising, Blake also owns and manages his own online marketing company where he has been successfully curating and implementing online marketing and advertising strategies for his clients for the past three years.
Blake is a proud father and family man and currently lives in the United States with his daughter and fiancé.
Martin Kilgore Market and Trading Analyst Martin Kilgore holds bachelor’s degrees in both accounting and mathematics, having researched Knot Theory and the Jones Polynomial during his undergraduate studies, giving him a firm edge when analyzing market conditions. He has worked as a staff accountant for several governmental organizations.
Martin lives in the United States with his fiancé.
Jonathan McDonald Chief Trading Strategy Officer Jonathan has honed his trading skills over the past five years by studying and implementing economics, financial strategy, Forex trading analysis and trading bots. Through his constant learning, he discovered Cryptocurrency after seeing the difference in market volatility and high yield trading. His fine-tuned trading strategies complement Crypto markets perfectly, and he has been implementing trading strategies to the Cryptocurrency market for over a year with phenomenal results. Jonathan is constantly improving his trading skills with an emphasis on scalping techniques. He has applied his trading skillset to the WolfpackBOT and enjoys working alongside the Wolfpack in creating the fastest trading bot on the market.
Jonathan currently resides in Canada with his supportive girlfriend and family.
Web site: https://www.wolfpackbot.com/
Technical document: https://www.wolfpackbot.com/Pdf/whitepaper_en.pdf
Bounty0x username: idrixoxo
submitted by idrixoxo2015 to u/idrixoxo2015 [link] [comments]

Cryptocurrency Weekly Recap

submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Bitcoin Is Inferior to Apple Pay

Text extract from TBI's Daily Bit http://two-bit-idiot.tumblr.com/post/97100768474/bitcoin-is-inferior-to-apple-pay
Last week I wrote about the big Apple payments reveal and how I believed it was a net negative for Bitcoin. I’ll double down on that argument today in the wake of the introduction of the iPhone 6, Apple Pay and Apple Watch (which I’m more excited about than the iPad, although I’m sure the first version will suck), and I’ll explain why mobile commerce and point-of-sale retail will probably be crappy areas for bitcoin companies to invest in going forward — especially if they operate in a developed economy.
But first, the good news…
Apple is going to have a monumental impact in converting people from their leather wallets to mobile ones. That will be true for both mobile purchases and PoS commerce. Tens if not hundreds of millions of global consumers are probably going to use the iPhone’s new mobile wallet in the future and thousands of large merchants will invest in the mobile and physical infrastructure to capture that new business.
So thank you Apple for helping mobile wallets “tip” to the mainstream. That’s good for your company, good for your users, and maybe even good for bitcoin, the currency, which could easily become another Apple Pay payment method in the future.
It’s not so good for bitcoin as a payment rail, though.
In fact, I had to scratch my head a bit at the derision so many bitcoiners directed towards Apple in the wake of the formal announcement today. At first glance, Apple’s new bet on “tokenization” systems from leading payment technology companies like FirstData, TSYS and Visa appears to solve many of the same security issues as bitcoin. Apple added a “secure element” chip to its new phone, which encrypts card credentials and spits that information out to merchants via near-field communication in the form of new randomly generated account numbers - kind of like bitcoin’s public keys. Apple never touches the information (although I’m sure the NSA will make them create a backdoor), so the transaction information settles between the merchant and the user’s bank as it normally would - with a drastically reduced risk for fraud or theft.
Anonymous? No. Secure and convenient? Yes.
How quick we are to forget that killer apps in payments are about speed, convenience and security, not anonymity per se. Most of us (myself included) won’t care that our banks can still track our spending habits. I just don’t want Target losing my card info, and I want my breakfast burrito 30 seconds faster at the McDonald’s drive thru.
Apple Pay is going to allow a) instant transactions with b) better security at c) cheaper costs to merchants (my bet), and you’re telling me that bitcoin still has a shot at being a better B2C payment rail anytime soon? I’m not buying it.
All this said, there are some pretty big caveats here.
I still believe there are many other applications for which bitcoin is superior - particularly in the developing world and for the underbanked. There is also a massive B2B opportunity to build applications which facilitate cross-border transactions that require currency conversions. Even though remittance applications might still be some time away from regulatory or legal viability, bitcoin is still a pretty sweet peer-to-peer, informal settlement method as well. In a world with Apple Pay, it would be nice to see the major bitcoin wallets and payment processors focus on these applications in addition to the niche B2C mobile experiences that bitcoin is uniquely qualified to handle - micro-transactions, m-of-n transactions, etc.
I just don’t see Bitcoin payment technology taking off otherwise as a non-gimmicky B2C payments solution. I got a pretty big kick out of Xapo’s Wences Casares and his quote from his recent interview with The Verge where he called B2C bitcoin commerce a “side show for idiots.” I hope that sentiment becomes more mainstream. It’s healthy because it’s true.
I, for one, plan to use Apple Pay — not bitcoin — for next year’s Uber rides. Apple has simply done it better.*
Again.
*I think.
There’s an obvious part two to this post, which is also a good follow-up from my post yesterday. It has to do with bitcoin’s health as an investment. I’ll work on it tonight and shoot to post Thursday. Tomorrow I’m going to talk about our friends at NYDFS.
Speaking of bitcoin companies and Apple, I’m interested to see how / whether Gyft gets integrated into Apple Pay given First Data’s recent acquisition. I have no idea. Haven’t given it much thought, but seems like there could be interesting possibilities.
Final thought on bitcoin for B2C commerce. It’s going to take a while to actually gobble up the raw merchant data, but I think Overstock presents an early and telling case study about the over-optimism of bitcoin as a sustainable source of commerce. Remember when Patrick Byrne said that he expected bitcoin to drive $15-20 million in year one sales for Overstock back in the first quarter? He did scope shift earlier this summer by highlighting that bitcoin would add $0.04 to earnings, while quietly updating his bitcoin sales forecast to “as much as $8 million.” That’s a 50% reduction at least and it reflects anecdotally what we already know to be true: merchants get a bitcoin marketing bump initially, but it might not be a sustainably attractive payment method.
Final, final thought. I’m still a bitcoin mega-bull, but I’m also a realist.
Text extract from TBI's Daily Bit *Entrepreneur, former VC & Bitcoin's "most insightful journalist" according to the lucite on my desk... Mt. Gox slayer and BTC Foundation irritant... Other than that, I stay away from scandals.# http://two-bit-idiot.tumblr.com/post/97100768474/bitcoin-is-inferior-to-apple-pay
submitted by brasilbitcoin to BitcoinMarkets [link] [comments]

Subreddit Stats: btc posts from 2017-10-03 to 2017-10-09 13:22 PDT

Period: 6.50 days
Submissions Comments
Total 837 20193
Rate (per day) 128.85 2692.43
Unique Redditors 489 2132
Combined Score 26601 69285

Top Submitters' Top Submissions

  1. 1086 points, 17 submissions: increaseblocks
    1. Another all time low achieved - The Blockstream CSO just reported Coinbase to the NYDFS (on Twitter) claiming they are violating the Bitlicense (199 points, 91 comments)
    2. Craig Wright is NOT the face of or "CEO" Bitcoin Cash (181 points, 116 comments)
    3. Bitcoin Cash (BCH) Withdrawals now available on Gemini exchange (176 points, 39 comments)
    4. In just the month of September 2017 alone rBitcoin mods censored 5633 posts and comments! (115 points, 19 comments)
    5. Forget stealing data — these hackers broke into Amazon's cloud to mine bitcoin (91 points, 11 comments)
    6. Why Blockstream Is So Loudly Against Segwit2x (72 points, 52 comments)
    7. 10 reasons why Reddit admins should close down Bitcoin and not BTC (63 points, 62 comments)
    8. These are the real enemies of Bitcoin (43 points, 23 comments)
    9. Bitcoin Core developers along with Blockstream are destroying Bitcoin (36 points, 5 comments)
    10. Theory: Bitcoin Cash price is dropping as we get closer to SegWit2X hard fork. People are putting their money back into the SegWit1X chain for now so they can claim coins on both chains come November. (34 points, 43 comments)
  2. 970 points, 8 submissions: MemoryDealers
    1. Repost: "The notion of every #bitcoin user running their own node is as dumb as the notion of every email user running their own server.' (279 points, 233 comments)
    2. Just letting Bitcoin.org know that Bitcoin.com will list S2X as BTC (Just like 95% of the rest of the ecosystem will) (243 points, 146 comments)
    3. Censorship question (158 points, 164 comments)
    4. The newest Bitcoin CASH billboard is coming to Silicon Valley! ($1,000 in Bitcoin Cash giveaway contest) (90 points, 38 comments)
    5. Core supporter mentality: Why would anyone ever switch from Myspace to Facebook? Of course they won't, we are already #1 (73 points, 67 comments)
    6. Insights from "a professional capacity planner for one of the world’s busiest websites" on the block size issue. (59 points, 18 comments)
    7. South Korean Startups Are Preparing To Fight The Government's ICO Ban (48 points, 2 comments)
    8. Meanwhile in Japan: (20 points, 21 comments)
  3. 895 points, 7 submissions: poorbrokebastard
    1. Is segwit2x the REAL Banker takeover? (288 points, 400 comments)
    2. No supporter of Bitcoin Cash ever called it "Bcash." (207 points, 328 comments)
    3. The real upgrade happened on August 1st, 2017 (186 points, 206 comments)
    4. We are building a Big Blocker's Arsenal of Truth and we need your help! (143 points, 163 comments)
    5. Understanding the Implications of Restricting Capacity in a Peer to Peer Cash System. (53 points, 42 comments)
    6. Block space is a market-based, public good, NOT a centrally controlled, restricted commodity. (18 points, 48 comments)
    7. Crypt0 on youtube talks about the Segwit2x Banker Takeover (0 points, 3 comments)
  4. 866 points, 4 submissions: jessquit
    1. I think we need an EDA fix before the Nov hardfork (540 points, 352 comments)
    2. If you still think that SW2X is going to be a nice clean upgrade per the NYA you're smoking crack (136 points, 177 comments)
    3. Bitcoin Cash is the real Bitcoin, even if Segwit currently has greater market share due to its stronger shilling (104 points, 140 comments)
    4. "Firing Core" by running SW2X makes as much sense as firing the Linux kernel devs by running Ubuntu. (86 points, 69 comments)
  5. 785 points, 8 submissions: btcnewsupdates
    1. Overstock accepts Bitcoin Cash - BCH holders can now buy Home Goods, Bed & Bath Essentials, Jewellery & More! (586 points, 117 comments)
    2. Bitcoin Cash Gains More Infrastructure In the Midst of Segwit2x Drama - Bitcoin News (80 points, 35 comments)
    3. To commemorate its Bitcoin Cash addition, GMO has launched a cash-back campaign for bitcoin cash of up to 25,000 yen (40 points, 0 comments)
    4. India’s Koinex Exchange to Enable Bitcoin Cash Trading Soon (31 points, 13 comments)
    5. Unregulated Is Not Lawless - CFTC is investigating Coinbase’s Ethereum flash crash (23 points, 6 comments)
    6. SimpleFX, online Forex & Cryptocurrency broker recently introduced Bitcoin Cash as a deposit currency (22 points, 0 comments)
    7. Bitcoin Cash Popularity Allows ViaBTC Mining Pool to Surpass 1 Exahash (3 points, 0 comments)
    8. Trade Bitcoin Cash CFDs - The Rapidly Rising Crypto - plus500.co.uk‎ (0 points, 0 comments)
  6. 745 points, 18 submissions: cryptorebel
    1. Great analysis by singularity and jessquit on how anti-btc trolls shifted: "suddenly last year they all disappeared, and a new type of bitcoin user appeared who were fully in support of bitcoin but they just so happened to support every single thing Blockstream and its employees said and did." (102 points, 50 comments)
    2. Don't fall for EDA Dragons Den FUD. EDA is a powerful weapon that could kill off or cripple the segwit chain for good. Legacy coin has no EDA crash barrier as this article explains. This is why small blockers use FUD us to disarm the EDA (78 points, 118 comments)
    3. Roger Ver CEO of bitcoin.com says that from his point of view the segwit2x split just gives him more coins to sell for the Bitcoin Cash version which he thinks is the more useful Bitcoin @3min41s mark (71 points, 33 comments)
    4. Proof the new Dragons Den plan could be to try to split BCC with an EDA change. Mrhodl is confirmed Dragons Den, and Cobra Bitcoin is the leader of bitcoin.org which is making enemy lists for big block supporting businesses. (70 points, 47 comments)
    5. Right now segwit2x (BT2) is trading for $1143 and segwit1x (BT1) is $3070 on Bitfinex futures markets. Even with not the greatest terms, you would expect 2x to be much higher. I believe this bodes well for BCC. (61 points, 112 comments)
    6. The other day people were suggesting we do an EDA change before the November 2x fork. Here is why I think that is a terrible idea, and why we should only consider EDA change AFTER the 2x fork. (58 points, 40 comments)
    7. "Nick, Adam and others saw the flaw in the system being that they could not ensure one vote one person.. The flaw in that reasoning is assuming that one vote one person was ever a goal. Miners act economically not altruistically." (57 points, 14 comments)
    8. Original chain is now only 4.8% more profitable than Bitcoin Cash chain after the most recent EDA adjustment on BCC. Very normal blocktimes. Where is the EDA dragons den FUD now? (53 points, 33 comments)
    9. Great Explanation from Peter Rizun at 6min mark, on why Segregated Witness no longer fits the Definition of Bitcoin in the Whitepaper as a Chain of Signatures. (51 points, 19 comments)
    10. Right now segwit2x is $650 and segwit1x is $3906. Search for BT1 and BT2 on this page and you can see the futures prices. (51 points, 102 comments)
  7. 640 points, 3 submissions: BeijingBitcoins
    1. "Am I so out of touch?" (441 points, 163 comments)
    2. Bitcoin Cannot Be Only a Store of Value - excellent article by OpenBazaar dev Chris Pacia (189 points, 47 comments)
    3. Interesting research paper: Troops, Trolls and Troublemakers: A Global Inventory of Organized Social Media Manipulation (10 points, 2 comments)
  8. 622 points, 2 submissions: routefire
    1. "Everyone who supported UASF and now complains about S2X out of fear of confusion/lack of mandatory replay protection is a hypocrite. UASF did not have ANY replay protection, not even opt-in. UASF did not even have wipe-out protection!" (394 points, 133 comments)
    2. While /bitcoin was circle-jerking to the idea that no exchange would list the SW2x chain as BTC, Bitcoin Thailand's comment to the contrary was removed from the very same thread! (228 points, 70 comments)
  9. 510 points, 6 submissions: BitcoinIsTehFuture
    1. Bitfinex announcement about issuing BT1 & BT2 "Chain Split Tokens" to allow Futures trading. (BT1 = Segwit1x; BT2 = Segwit2x) (172 points, 173 comments)
    2. By proving that it can be done (getting rid of Core) this will set a HUUGE precedent and milestone that dev teams and even outright censorship cannot overtake Bitcoin. That will be an extremely bullish occasionfor all crypto. (149 points, 84 comments)
    3. Bitfinex is going to call Segwit2x coins "B2X" and let Core chain retain "BTC" ticker symbol. Bitfinex is therefore calling Segwit2x an altcoin and Core the "real chain". (138 points, 70 comments)
    4. The goal of all the forks appears to be to dilute investment in the true forks: Bitcoin Cash and Segwit2x. A sort of Scorched Earth approach by Blockstream. They are going to try to tear down Bitcoin as they get removed. (35 points, 11 comments)
    5. Blockstream be like (10 points, 11 comments)
    6. In light of all these upcoming forks, we need a site where you can put in a BTC address and it checks ALL the forks and says which chains still have a balance for that address. This way you can split your coins and send coins carefully. (6 points, 6 comments)
  10. 508 points, 3 submissions: xmrusher
    1. Can we take a moment to appreciate Jeff Garzik for how much bullshit he has to deal with while working to give BTC a long-needed upgrade that Core has been blocking for so long? (278 points, 193 comments)
    2. The very objective article "Bitcoin is not ruled by miners" on the "bitcoin wiki" was added by theymos on 8th of August this year. Nothing strange to see here, just an objective, encyclopedia-quality overview! (155 points, 58 comments)
    3. According to Crooked Greg, Jeff merging opt-in replay protection is "alarming", because it must mean Jeff wants to blacklist people's addresses too. Core devs keep lying and manipulating to stir more drama and further the split in the community. Disgusting! (75 points, 16 comments)
  11. 505 points, 4 submissions: WalterRothbard
    1. Sam Patterson on Twitter: Can anyone explain why miners and CEOs agreeing to a 2mb hard fork was no big deal with the HKA but is a "corporate takeover" with the NYA? (221 points, 85 comments)
    2. Apparently Bitcoin requires trust now - trusting Core. I didn't get that memo. I think I'll opt out. (169 points, 139 comments)
    3. Erik Voorhees on Twitter: Nothing about NYA was secret (106 points, 34 comments)
    4. How much BTC is in segwit addresses? (9 points, 25 comments)
  12. 480 points, 3 submissions: BitcoinXio
    1. Friendly reminder: if you haven't yet, watch this video which shows reddit is gamed and manipulated by professional shills paid by companies with huge million dollar budgets. It is up to our community to defend itself against these bad actors. (325 points, 99 comments)
    2. Blockchain CEO Peter Smith on Twitter: "We've dedicated our lives to building bitcoin products, introduced millions to bitcoin, evangelized, long before it was cool. Enemies?" (in response to Adam Back) (147 points, 47 comments)
    3. Liberty in North Korea: Reddit online community members join forces to assist in the placement of North Korea’s Hermit Kingdom refugees (8 points, 3 comments)
  13. 459 points, 4 submissions: singularity87
    1. The entire bitcoin economy is attacking bitcoin says bitcoin.org! You can't make this shit up. (435 points, 279 comments)
    2. Understanding Bitcoin - Incentives & The Power Dynamic (13 points, 1 comment)
    3. Understanding Bitcoin - What is 'Centralisation'? (9 points, 9 comments)
    4. Understanding Bitcoin - Validity is in the Eye of the Beholder (2 points, 25 comments)
  14. 434 points, 3 submissions: Gregory_Maxwell
    1. Wikipedia Admins: "[Gregory Maxwell of Blockstream Core] is a very dangerous individual" "has for some time been behaving very oddly and aggressively" (214 points, 79 comments)
    2. Gregory Maxwell: I didn't look to see how Bitcoin worked because I had already proven it (strong decentralized consensus) to be impossible. (122 points, 103 comments)
    3. LAST 1000 BLOCKS: Segwit2x-intent blocks: 922 (92.2%) (98 points, 99 comments)
  15. 419 points, 1 submission: Testwest78
    1. Making Gregory Maxwell a Bitcoin Core Committer Was a “Huge Mistake” Says Gavin Andresen (419 points, 231 comments)
  16. 412 points, 14 submissions: knight222
    1. Kudos to Theymos who wanted to clear things up... (311 points, 89 comments)
    2. COINFUCIUS on Twitter: We are working with the machine's manufacturer to incorporate Bitcoin Cash support. This is a priority for us. (76 points, 2 comments)
    3. Cash, credit ... or Bitcoin? St. John's gets 1st cybercurrency ATM - Newfoundland - Labrador (9 points, 1 comment)
    4. Banks like the potential of digital currencies but are cool on bitcoin, UBS says (3 points, 0 comments)
    5. The Feds Just Collected $48 Million from Seized Bitcoins (3 points, 1 comment)
    6. while Bitcoin users might get increasingly tyrannical about limiting the size of the chain so it's easy for lots of users and small devices. (3 points, 3 comments)
    7. ‘Fraud.’ ‘More than a fad.’ The words Wall Street CEOs are using to describe bitcoin (2 points, 0 comments)
    8. Bitcoin is creating stark divisions on Wall Street (1 point, 0 comments)
    9. Bitcoin: Bitcoin's rise happened in the shadows. Now banks want in (1 point, 0 comments)
    10. Japan’s Biggest Bank Plans to “Overcome” Bitcoin Volatility with 'MUFG Coin' (1 point, 0 comments)
  17. 406 points, 5 submissions: jonald_fyookball
    1. Normal, real twitter users don't add [UASF], [No2x] or any "causes" to their user handles. Obvious astroturfing is obvious. Do they really think they are fooling anyone? (175 points, 134 comments)
    2. Greg Maxwell (and others) may be engaging in the illegal harassment of Jeff Garzik. (92 points, 24 comments)
    3. Bitcoin Cash FAQ updated. Explains why Bitcoin Cash doesn't have SegWit and why it was not considered a capacity increase (87 points, 11 comments)
    4. Is it all a bait and switch campaign? (32 points, 14 comments)
    5. Possible EDA simulation algorithm sketch (20 points, 12 comments)
  18. 404 points, 3 submissions: Annapurna317
    1. Everyone should calm down. The upgrade to 2x has 95%+ miner support and will be as smooth as a hot knife through butter. Anyone that says otherwise is fear monguring or listening to bitcoin propaganda. (364 points, 292 comments)
    2. Notice: Redditor for 3-4 months accounts or accounts that do not have a history of Bitcoin posts are probably the same person or just a few people paid to manipulate discussion here. It's likely a paid astroturfing campaign. (38 points, 30 comments)
    3. The latest TED Radio Hour titled “Getting Organized” talks about the decentralized algorithms of ants and how centralization is not the most ideal state of an organization. (2 points, 0 comments)
  19. 385 points, 1 submission: squarepush3r
    1. Dangerous direction for /btc, possible jump the shark moment. Witch-hunting, paid troll and Dragon Den's accusation to justify censorship. (385 points, 201 comments)
  20. 381 points, 1 submission: hunk_quark
    1. Why is there so much debate on whether Bitcoin is store of value or digital currency? Satoshi's white paper was pretty clear it's a digital currency. (381 points, 182 comments)
  21. 369 points, 5 submissions: craftercrafter
    1. Gavin Andresen on Twitter: Early bitcoin devs luckily picked the right project at the right time. None are irreplaceable, bitcoin will succeed with or without us. (293 points, 57 comments)
    2. Antpool, BTC.TOP & Viabtc all said EDA is a temporary design for BCC. They are just waiting for the new algorithm. (34 points, 19 comments)
    3. SimpleFX, an Online Forex & Cryptocurrency Broker, Adds Bitcoin Cash Payments as well as Bitcoin Cash Trading Pairs! (27 points, 1 comment)
    4. BCC Miners, two EDAs have locked in. This will reduce mining difficulty to 64.00%. If you are aiming to achieve profit parity, you should start mining after the next EDA (in 2.5 hours), because then the difficulty will be at 51%, which gives profit parity on both chains and steady block rate. (9 points, 14 comments)
    5. Antpool, Viabtc, Bitcoin.com, BTC.com, we need to hear your voice. In the case of a scheduled hardfork for updating the EDA, will your pool follow? (6 points, 18 comments)
  22. 348 points, 6 submissions: specialenmity
    1. Fact: proof of work which is the foundation of bitcoin and not invented by Adam back was designed to counter attacks where one person falsely represents to be many(like spam). Subreddits and twitter dont form the foundation of bitcoin for a reason. (156 points, 27 comments)
    2. I'm a small blocker and I support the NYA (87 points, 46 comments)
    3. Devs find clever way to add replay protection that doesn't change transaction format which would break software compatibility and cause disruption. G. Max responds by saying that this blacklisting is a sign of things to come. (49 points, 57 comments)
    4. Five ways small blocks (AKA core1mb) hurt decentralization (36 points, 4 comments)
    5. Even if bitcoins only use to society was avoiding negative interest rates, bail-ins + bail-outs, that is incredibly useful to society. Of course a banker like Jamie Dimon would call something a fraud that removes a "bank tax" on society by allowing them to avoid these fraudulent charges. (18 points, 0 comments)
    6. There are different kinds of censorship. The core propagandists are unwittingly great advocates of economic censorship (2 points, 1 comment)
  23. 286 points, 2 submissions: coincrazyy
    1. Rick Falkvinge on Twitter - "Blockstream's modus operandi is not particularly hard to copy. It's just so cheap and shortsighted." -Gets 5000 ReTweets and 5000 likes in 30 mins. TO PROVE A POINT. ASTROTURFING DOES NOT MEAN CONSENSUS (164 points, 15 comments)
    2. Segwit was invented by "cypherpunks" THAT FAILED TO CREATE A VIABLE DIGITAL CURRENCY. Bitcoin was created by a cypherpunk that SUCCEEDED. (122 points, 118 comments)
  24. 257 points, 2 submissions: olivierjanss
    1. Why Bitfinex’s “Chain Split Tokens” are completely biased towards the small block side (again) (205 points, 165 comments)
    2. Reminder of what took place behind closed doors in 2016, revealing Blockstream & Core's quest for domination & lies. (52 points, 3 comments)
  25. 254 points, 9 submissions: SeppDepp2
    1. #SegWit2x is an upgrade to BTC and will use the BTC ticker. (103 points, 59 comments)
    2. Core rage quitting Swiss Bitcoin Association ? - Due to a CSW free speech ? - OMG - grow up little prejudges! (76 points, 141 comments)
    3. "Venezuela could soon decide to adopt the Bitcoin as its new currency" - Hope they'll use Satoshi's Bitcoin Cash - They cannot afford high fees like most No2X / NoCash puppets! (36 points, 6 comments)
    4. A short logical layman proof definition of Bitcoin: Look up, what Bitcoin really is: 1) Whitepaper 2) First code version Bitcoin is Bitcoin Cash and includes e.g. the witness. Segwit - Bitcoin is an alternative to this (ALT). (17 points, 3 comments)
    5. Core gets hyperallergic about a free speach of CSW in neutral Switzerland (6 points, 35 comments)
    6. Different Bitcoins: Value proposition, trust, reputation - confidence (6 points, 0 comments)
    7. Four Different November Scenarios (6 points, 24 comments)
    8. Swiss biggest FinTech launches BITCOIN Tracker (valid up to 2020) (2 points, 1 comment)
    9. Watch out for this kind of pattern! If it comes to such a segregation of good old members into good and enemy its gonna be dirty! (2 points, 0 comments)
  26. 230 points, 2 submissions: williaminlondon
    1. PSA: latest rbitcoin post "It's time to label (and remove from reddit.com) what is plainly obvious: btc is a monetized subreddit for bitcoin.com." (126 points, 57 comments)
    2. Did anyone notice how angry Blockstream / Core people are whenever good news are posted here? (104 points, 108 comments)
  27. 227 points, 1 submission: dskloet
    1. All the #no2x bullshit is the fault of the people who agreed to activeate SegWit before 2x. (227 points, 199 comments)
  28. 226 points, 5 submissions: opling
    1. Japan's Largest Bitcoin Exchange Bitflyer Launches Bitcoin Visa Prepaid Card (112 points, 1 comment)
    2. Large Japanese Energy Supplier Adds Bitcoin Payments With a Discount (44 points, 4 comments)
    3. Bitcoin ATMs On the Rise in Russia (40 points, 2 comments)
    4. Russia's Central Bank Instructs Clearinghouse Not to Settle Cryptocurrency Contracts (18 points, 1 comment)
    5. Government Head of IT Department Fired for Mining Bitcoin Using State-Owned Computers in Crimea (12 points, 2 comments)
  29. 222 points, 2 submissions: GrumpyAnarchist
    1. Xapo just sold off another 70,000 BCH today, that might explain the price. They're down to 176K in their main wallet now. (166 points, 132 comments)
    2. Roger, can you make Bitcoin Cash an option, with maybe a link to info, in the original wallet setup phase for the Bitcoin.com wallet? (56 points, 28 comments)
  30. 216 points, 7 submissions: uMCCCS
    1. TIL a BS employee, Chris Decker, and some other people released a study that says "4 MB blocks don't cause centralization" (128 points, 19 comments)
    2. Without ASICs, there would be large botnets that are more centralized (44 points, 43 comments)
    3. Bitcoin-ML Bucketed UTXO Commitment (a.k.a. Blockchain pruning!) (27 points, 6 comments)
    4. Bitcoin Cash is Satoshi's BitCoin, not altered Bitcoin (10 points, 10 comments)
    5. TIL BashCo has a website "2x Countdown" (5 points, 1 comment)
    6. How true is rBTC censorship? (2 points, 7 comments)
    7. If S1X lives and Core Never HardForks, BTC will die in year 2038 (0 points, 7 comments)

Top Commenters

  1. williaminlondon (3150 points, 739 comments)
  2. poorbrokebastard (2114 points, 518 comments)
  3. cryptorebel (1768 points, 257 comments)
  4. space58 (1313 points, 201 comments)
  5. Adrian-X (1109 points, 235 comments)
  6. knight222 (1037 points, 157 comments)
  7. bitcoincashuser (946 points, 188 comments)
  8. jessquit (901 points, 150 comments)
  9. ---Ed--- (758 points, 185 comments)
  10. LovelyDay (742 points, 125 comments)
  11. jonald_fyookball (720 points, 106 comments)
  12. Not_Pictured (701 points, 111 comments)
  13. awemany (675 points, 173 comments)
  14. BitcoinXio (611 points, 41 comments)
  15. Gregory_Maxwell (609 points, 90 comments)
  16. singularity87 (608 points, 44 comments)
  17. 2dsxc (587 points, 79 comments)
  18. BitcoinIsTehFuture (567 points, 79 comments)
  19. BTCrob (534 points, 214 comments)
  20. H0dl (531 points, 79 comments)
  21. dskloet (517 points, 94 comments)
  22. Ant-n (509 points, 132 comments)
  23. nullc (497 points, 66 comments)
  24. tippr (483 points, 284 comments)
  25. todu (476 points, 63 comments)
  26. GrumpyAnarchist (472 points, 127 comments)
  27. tophernator (462 points, 78 comments)
  28. livecatbounce (456 points, 61 comments)
  29. kenman345 (453 points, 49 comments)
  30. cryptonaut420 (403 points, 50 comments)

Top Submissions

  1. Overstock accepts Bitcoin Cash - BCH holders can now buy Home Goods, Bed & Bath Essentials, Jewellery & More! by btcnewsupdates (586 points, 117 comments)
  2. I think we need an EDA fix before the Nov hardfork by jessquit (540 points, 352 comments)
  3. "Am I so out of touch?" by BeijingBitcoins (441 points, 163 comments)
  4. The entire bitcoin economy is attacking bitcoin says bitcoin.org! You can't make this shit up. by singularity87 (435 points, 279 comments)
  5. Making Gregory Maxwell a Bitcoin Core Committer Was a “Huge Mistake” Says Gavin Andresen by Testwest78 (419 points, 231 comments)
  6. "Everyone who supported UASF and now complains about S2X out of fear of confusion/lack of mandatory replay protection is a hypocrite. UASF did not have ANY replay protection, not even opt-in. UASF did not even have wipe-out protection!" by routefire (394 points, 133 comments)
  7. Dangerous direction for /btc, possible jump the shark moment. Witch-hunting, paid troll and Dragon Den's accusation to justify censorship. by squarepush3r (385 points, 201 comments)
  8. Why is there so much debate on whether Bitcoin is store of value or digital currency? Satoshi's white paper was pretty clear it's a digital currency. by hunk_quark (381 points, 182 comments)
  9. Everyone should calm down. The upgrade to 2x has 95%+ miner support and will be as smooth as a hot knife through butter. Anyone that says otherwise is fear monguring or listening to bitcoin propaganda. by Annapurna317 (364 points, 292 comments)
  10. Friendly reminder: if you haven't yet, watch this video which shows reddit is gamed and manipulated by professional shills paid by companies with huge million dollar budgets. It is up to our community to defend itself against these bad actors. by BitcoinXio (325 points, 99 comments)

Top Comments

  1. 194 points: cryptorebel's comment in Dangerous direction for /btc, possible jump the shark moment. Witch-hunting, paid troll and Dragon Den's accusation to justify censorship.
  2. 167 points: EH74JP's comment in The entire bitcoin economy is attacking bitcoin says bitcoin.org! You can't make this shit up.
  3. 158 points: BobWalsch's comment in I think we need an EDA fix before the Nov hardfork
  4. 157 points: BitcoinXio's comment in Dangerous direction for /btc, possible jump the shark moment. Witch-hunting, paid troll and Dragon Den's accusation to justify censorship.
  5. 149 points: MemoryDealers's comment in All the #no2x bullshit is the fault of the people who agreed to activeate SegWit before 2x.
  6. 116 points: Testwest78's comment in Making Gregory Maxwell a Bitcoin Core Committer Was a “Huge Mistake” Says Gavin Andresen
  7. 115 points: 2dsxc's comment in I think we need an EDA fix before the Nov hardfork
  8. 106 points: Piper67's comment in jgarzik please do not add replay protection
  9. 106 points: singularity87's comment in The entire bitcoin economy is attacking bitcoin says bitcoin.org! You can't make this shit up.
  10. 99 points: zowki's comment in Bitcoin.com Pool stabilized the Bitcoin Cash blockchain (prevented excessive EDAs)
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Valuing Bitcoin: this got no love when I posted a year ago, but just re-read and I still think it provides a useful framework that I've not seen elsewhere (which is odd because it seems obvious)

Background: A lot of the discussion on bitcoin value is IMO lacking in a proper analytical grounding. People throw out random numbers, or say you should look at the market cap of visa etc, without providing any rationale. I'm not an academic, but I studied economics and spend my day valuing companies so I have a degree of expertise. I also did a bit of research to understand better the dynamics of other currencies to which I compare certain attributes, e.g., velocity. Note that this is over a year old so the numbers are a bit out of date but that shouldn't make much difference to the basic analysis. The link to the article on scribd is here...
http://www.scribd.com/doc/217902157/Valuing-Bitcoin
... and I've inserted the full text here (I guess the formatting will not be great)..
Valuing Bitcoin
Summary: I use a very simple model of transaction value, bitcoin velocity and the number of bitcoins in use to derive a fair value for a bitcoin today. Rather than trying to analyse in detail the likelihood of and means by which bitcoin may become more widely adopted, I use a scenario analysis that allows us to take a ‘finger in the air’ approach to estimating the likelihood of Bitcoin’s success or failure. Taking this approach we can back-calculate to work out what is implied in the current valuation of bitcoins in terms of likelihood of adoption, or other key variables.
This is primarily a simplified framework to help elucidate the fundamentals that drive the value of bitcoins. The assumptions herein are very ‘back of the envelope’ and are principally for exposition.
  1. First principles
The value of a single bitcoin is related to the value and velocity of transactions made using bitcoin, and the volume of bitcoins in use.
The value of transactions made with bitcoin. Let’s say we assume that bitcoin will succeed in becoming the payment choice for US$100bn of transactions per year. Let’s also first assume that this US$100bn takes the form of one single transaction – say to buy all of the outstanding stock of Facebook. In order for this to be possible, the entire market value of Bitcoin would need to be at least US$100bn. For argument’s sake, let’s say someone managed to accumulate all of the bitcoins in existence (ca.12.5 million today) and used them to make this transaction, then we can infer that the value of a single bitcoin, when this transaction happens, is $8,000.
The velocity of transactions made with bitcoin. Let’s take the same example above, but this time let’s assume that rather than one transaction, it takes the form of two transactions – let’s say to buy ‘whataspp’ and ‘wechat’, for the equivalent of US$50bn each. Let’s further assume that the seller of whatsapp, uses the US$50bn of bitcoins he has received, to buy wechat. How much does Bitcoin need to be worth to facilitate this series of transactions? Hopefully one can see that at the very least, it needs to be worth $4,000, half of the example above, because the same bitcoins could be used twice. Therefore, the same ‘value’ of transactions has been facilitated, US$100bn, but depending on the number of times the same bitcoin can be used the implied value of bitcoin can differ.
The volume of bitcoins in use. The previous two examples have assumed that the whole outstanding stock of bitcoins is being used to facilitate the transactions. This is unlikely to be true. It is very likely that a good number of bitcoins have been ‘lost’ – ie., stuck on hard drives thrown into landfills, etc. Let’s assume there are 2.5 million lost bitcoins – the value in our first example would then have to be US$10,000. Moreover, clearly a lot of people today hold bitcoins as a store of value, or perhaps more accurately, as a speculative investment. The number of bitcoins genuinely in circulation, therefore falls still further.
  1. Arriving at a formula to determine the value of a bitcoin
Using the basic principles outlined above, we can generate a simple formula to describe the value of a bitcoin as such:
1 btc = T/V/U
Where T = transaction value V = velocity U = no. of bitcoins in use
This is obviously a simplification, so we need to explore each aspect in greater detail to understand how to use it properly.
2.1 Transaction value (T)
How do we determine transaction value in the real economy? The obvious place to look is GDP, the most widely used measure of economic activity. It measures the value of all final goods and services consumed in an economy. Does this equate to the value of transactions in the economy? No – because before a good is finally consumed there are typically many other transactions going on to facilitate its transformation from raw material, to intermediate good, to finished good, to consumption by end consumer. The advantage of GDP, however, is that it is relatively easy to measure. Estimating the value of all transactions, on the other hand, is very hard and is a problem economist have recognized for a long time. That is not to say there aren’t estimates: a September 2013 white paper by Mastercard estimated the total value of transactions globally in 2011 as $592 trillion, compared to global consumer payments / GDP of $63 trillion. This may well be a good ballpark figure, however for our purposes we can probably just stick to measures of GDP. Why? Because, faced with this measurement issue, economists have worked around it to base their analyses on GDP, and therefore as we try to compare bitcoin value versus, say, the USD, it makes sense to use the framework most commonly used.
It is important to understand, however, that because of this framework only bitcoin transactions that are used in the final consumption of goods and services count towards our measure of ‘T’. Trading of bitcoins, or international remittances, for instance, do not count.
2.2 Velocity (V)
Given the difficulty in measuring the value and volume of transactions in an economy, it is quite difficult to measure velocity directly, in an accurate or meaningful way. To get round this problem economists take a different approach, which is quite useful for our purposes. Rather than measure velocity (V), we measure the ratio (k) of all cash balances in the economy (coins, notes, bank deposits – M1 money) to a measure of transaction volume, in this case GDP. By means of illustration, this ratio for the US today is about 14%. This means that to support the USA’s GDP of $16 trillion, roughly $2.3 trillion needs, at any one time, to be sat in bank accounts, in people’s wallets or under the mattress. Put simply this measures how much people and businesses like to keep on hand for everyday consumption. The rest of their savings can go into non-cash savings vehicles, like a house, or the stock market.
The velocity of money V can be seen as the inverse of k – i.e, each dollar of that $2.3 trillion would need to be spent around 7 times in the year to generate the $16 trillion in GDP. This in reality is a simplification, but we can work with it to come up with comparable assumptions for bitcoin.
2.3 Bitcoins in Use / Money supply (U)
In order to work out the velocity of money in the US economy, economists need to know the money supply. Figuring out the money supply in fiat currencies is more complex than for bitcoin – this is because there are different types of fiat money – it can be in the form of coins and notes, or in basic bank current accounts, savings accounts, fixed deposits, etc. In the example above we calculated the velocity of M1 money – that is coins, notes and demand deposit bank accounts.
Bitcoin is just bitcoin, and we know there have been ca. 12.5m bitcoins mined. That being said, it is not so straightforward to determine bitcoins ‘in use’. For one, there are all the lost coins. In the analysis herein I have assumed 2.5m have been lost (or, more accurately, private keys lost). There is also the question of how to treat those bitcoins that are being held for investment purposes. M1 is sort of a measure of ‘ready cash’ – a description that does not really apply to most bitcoins. In reality, most bitcoin holders probably treat some portion of their stockpile as ‘ready cash’, and the rest as investment. It is this ‘ready cash’ proportion that is of interest in calculating U.
  1. Estimating a value for bitcoin
With the above analysis in place, it is easy to start understanding the implications for the value of bitcoin. For example, if the US were to switch to a pure bitcoin economy today, and the velocity of bitcoin was the same as for the dollar, then we can say the value of a single bitcoin would need to be:
Btc = T/V/U = 16 trillion / 7 / 12.5 million = $183,000
3.1 The value of bitcoin based on today’s usage
Estimating T, V and U:
T. It is quite hard to estimate what T is today. We know the total transaction value from the blockchain, but most of this is exchanging bitcoin for other currencies or transfers between accounts. This doesn’t count in our estimate of bitcoin ‘GDP’. We do know it must be quite low – the most well known retailer accepting bitcoin, Overstock.com, takes in about $1m in bitcoin sales per month, so $12m per year. Let’s estimate, finger in the air, that total real world goods and services transactions in bitcoin are $1bn per year – this may well still be high.
V. It is very difficult to estimate velocity for those bitcoins that are in use as ‘currency’. It seems a fair assumption, however, that the velocity is slower than for USD, since there are simply not many bitcoiners out there buying and selling stuff. Again, with a finger in the air, let’s assume velocity of bitcoin today is 1 (compared to around 7 for the USD).
U. we know there have been around 12.5 million bitcoins ever mined – but are they in use? Certainly, some have been lost, so we should definitely remove them from our calculation of U. What about coins that are being used for speculative investment? Are they in use, but just very slow moving? We could choose to look at it that way, but I would rather assume that people using bitcoin see some of their stockpile as being ‘for investment’, and some as for everyday spending. Those that are for investment are really more like houses or stocks and bonds, and therefore not really part of U. Over time, as bitcoin approaches its long term price we would expect that people would hold bitcoin less as an investment, and therefore bitcoins in use would rise. For now though it seems clear that most bitcoins are being held for investment. Again, it is impossible to say what proportion, but I think it is high – say at least 80%. If we assume that 2.5 million bitcoins are lost, and that 80% are for investment, that means that only 2 million are ‘in use’.
These finger in the air assumptions give us the following as a minimum value required to support the value of btc transactions in the economy today:
Btc = T/V/U = 1bn / 1/ 2mn = $500.
Of course, we know the value of bitcoin today (ca $422 as of 12 April 2014), so we could back calculate the value of an individual variable. Since the average value of bitcoin over the last year or so is in the $500 range, these assumptions look plausible.
The true, fair, value of bitcoin today, however, given that most people are holding it as an investment, is clearly based on future expectations of its adoption and usage. Below, therefore, I build up some basic assumptions about what that could look like, to derive a very rough, back of the envelope type calculation for the real value of one bitcoin.
3.2 Estimating a fair value for bitcoin
Obviously, it is very unlikely that bitcoin will replace the US dollar, so we need to arrive at some sort of reasonable assumptions for what might happen.
For the purposes of this exposition, I will focus on where bitcoin could be in 5 years time. This is a close enough time frame to feel comfortable making some sort of prediction. Of course, the full potential of bitcoin may not be realized for 10 or 20 years or more, however in order to be conservative and to keep the assumptions at a level where people can have a good gut feel for whether they are realistic or not, let’s stick to 5 years.
I’m going to use three scenarios: 1. Crash and burn – where bitcoin is dead in 5 years – no one is using it at all – it just didn’t live up to the hype, there are a couple more gox like scandals and the original evangelists have moved onto new things 2. Nice but boring – bitcoin continues its slow but steady rise, but there is no exponential take off and usage remains confined to online payments by the relatively tech-savvy and libertarian 3. To the moon – bitcoin reaches critical mass, usage becomes easy, widely accepted and the wider population starts to understand it better. In developed markets it takes meaningful market share in online transactions and is beginning to make meaningful inroads in offline payments. In some emerging markets it is trusted more than the local currency, and adoption rates are soaring.
Basic considerations on U
I don’t know the answer to this, someone probably does, but let’s assume that in 2019 there have now been 15 million bitcoins mined. Let’s assume 2.5 million are still lost, so there are 12.5 million bitcoins, either being used as an investment or as currency.
Scenario 1 – Crash and burn
In our equation T = 0 (or very close to 0) therefore:
1 btc = 0/V/U = $0
Scenario 2 – Nice but boring
Let’s say that bitcoin takes 1% of online spending, and basically zero offline spending. E-commerce in 2019 is expected to be valued at around $3 trillion. Therefore we assume T = $30bn. Remember we estimated that T today is around