Best ASIC miner for cryptocurrency mining in 2019!

How do Cryptocurrency Exchanges Derive Revenue?

How do Cryptocurrency Exchanges Derive Revenue?

https://preview.redd.it/g3r7ndijl8q51.jpg?width=2400&format=pjpg&auto=webp&s=5bcf530de9cb96ced81f1f82ac2ce0da8ca03caf

Before going ahead, we would like to share that the top ten cryptocurrency exchanges are getting $3 million per day in profit. From 2009 to 2020, cryptocurrencies have come a long way, and during all these years, it has gone through a roller coaster ride. But, one of the significant development seen in this field was an investment in cryptocurrency. The rise of cryptocurrency exchanges indicates there has been a remarkable growth in this field.
The rise in cryptocurrency exchange and investors’ growing interest have made Bitcoin and other cryptocurrencies a popular choice among individuals. In this blog, we will discuss the best cryptocurrency exchanges and how they are performing so well.
Best cryptocurrency exchanges
Talking about the cryptocurrency exchanges, then Asian-based cryptocurrency exchange platforms are ruling the global crypto trading industry. An example of this is Tokyo-based Binance and Hong Kong-based OKEx; these bring in more than $1.7 billion daily. If we talk about the volumes, then Houbu from Singapore, Bithumb from South Korea, and Bitfinex from HongKong are performing the best. When calculated, Aisa-based exchanges are ruling over 50% of the daily crypto trading.
Crypto exchange makes money in the following ways:
Commissions- One of the common ways of making money is via commission. It is a fee for facilitating the trade between buyer and seller. The digital exchanges have a commission as low as .01%. If the dealing is in large volume, then the commission is on a higher side.
Listing fees- For a new cryptocurrency exchange, getting a more common and large volume of transactions would be difficult. But they can make money by listing fees. They can come up with a token and can list it, and earn revenue from it. Some of the common ways are Security Token Exchange, Initial Coin Offering, Initial Exchange Offerings. With either of these methods, exchange operators may collect a percentage of funds raised.
Fund collection- You can equip the platform for IEO and allow others to organize their token sales. In this scenario, your cryptocurrency exchange platform serves as a repository for but tokens.
Investing in Bitcoin and information about Bitcoin exchange
When we are talking about cryptocurrency exchange, then how can we miss Bitcoin? After all, it was the kickstarter of this revolutionary financial transformation.
Bitcoin farming is a way to exchange the value of Bitcoin. Those who wish to earn Bitcoin have to mine it by solving complex programs. These individuals are called miners. And they ensure that the network is secure and free from any threats. Those who wish to invest in Bitcoin also have the option of choosing Bitcoin ATM; it allows you to purchase Bitcoin via cash or debit card.
Conclusion-
This was the basic information about how you can do Bitcoin farming and some of the common ways the cryptocurrency exchanges generate revenue. All these changes and transformation shows that there is going to be a growth in cryptocurrencies. With more than 5000 cryptocurrencies floating in the market, we can only expect this number to grow in the future. For more such interesting information, connect with Blockchain Council today.
submitted by Blockchain_org to BlockchainStartups [link] [comments]

US Tax Guide for ETH and other cryptocurrencies

Introduction:  
Greetings, fellow ethtraders! Happy New Year! In the next few months, taxpayers across the US will be filing their 2017 tax returns. As an Enrolled Agent and a ETH/cryptocurrency investor and enthusiast, I wanted to write up a brief guide on how your investments in ETH and other cryptocurrencies are taxed in the US.
 
 
1. Are ETH/cryptocurrency realized gains taxable?
Yes. The IRS treats virtual currency (such as cryptocurrency) as property. That means if you sell ETH, BTC, or any other cryptocurrency that has appreciated in value, you have realized a capital gain and must pay taxes on this income. If you held the position for one year or less, it is a short-term capital gain which is taxed at your ordinary income tax rate. If you held the position for more than one year, it is a long-term capital gain which is taxed at your long-term capital gains tax rate. In most cases, this is 15%, but could also be 0% or 20% depending on your specific ordinary income tax bracket.
 
2. If I sell my ETH for USD on Coinbase but do not transfer the USD from Coinbase to my bank account, am I still taxed?
Yes. The only thing that matters is that you sold the ETH, which creates a taxable transaction. Whether you transfer the USD to your bank account or not does not matter.
 
3. If I use my ETH to buy OMG or another cryptocurrency, is this a taxable transaction?
Most likely yes. See #4 below for a more detailed explanation. If assuming crypto to crypto trades are not able to be like-kind exchanged, then continue on to the next paragraph here.
This is actually two different transactions. The first transaction is selling your ETH for USD. The second transaction is buying the OMG with your USD. You must manually calculate these amounts. For example, I buy 1 ETH for $600 on Coinbase. Later on, the price of 1 ETH rises to $700. I transfer that 1 ETH to Bittrex and use it to buy 37 OMG. I have to report a capital gain of $100 because of this transaction. My total cost basis for the 37 OMG I purchased is $700.
 
4. If I use my ETH to buy OMG or other cryptocurrency, could that be considered a tax-free like-kind exchange?
Probably not. The new tax law says that like-kind exchanges only pertain to real estate transactions. This was done with Section 13303, which replaced “property” with “real property” for all of Section 1031 (page 72 near the bottom). My personal interpretation:
In 2018 and going forward, cryptocurrencies can definitely not be like-kind exchanged.
In 2017 and before, it is a very gray area. I personally am not taking the position that they can be like-kind exchanged, because if the IRS went after a taxpayer who did this, the IRS would probably win and the taxpayer would owe taxes, interest, and probably penalties on every single little gain made from trading one cryptocurrency for another.
Here is a great interpretation of why trading cryptocurrency for cryptocurrency is probably not a like-kind transaction.
In my opinion, the biggest factor is that like-kind exchanges must be reported on Form 8824 and not just ignored. Therefore, if a taxpayer is claiming like-kind exchanges on crypto to crypto exchanges, he or she would have to fill out a Form 8824 for each individual transaction of crypto to crypto, which would be absolutely cumbersome if there are hundreds or thousands of such trades.
Here is another article about like-kind exchanges.
Here is the American Institute of CPAs' letter to the IRS, dated June 10, 2016, asking them to release guidance on whether crypto to crypto can be like-kind exchanged or not. The IRS has not responded to the letter.
 
5. How do I calculate the realized capital gain or loss on the sale of my cryptocurrency?
The realized gain or loss is your total proceeds from the sale minus what you purchased those positions for (your cost basis). For example, you bought 1 ETH for $300 in June of 2017. In December of 2017, you sold that 1 ETH for $800. Your realized gain would be $800 - $300 = $500. Since you held it for one year or less, the $500 would be a short-term capital gain taxed at your ordinary income tax rate.
 
6. Which ETH's cost basis do I use if I have multiple purchases?
The cost basis reporting method is up to you. For example, I buy my first ETH at $300, a second ETH at $530, and a third ETH at $400. Later on, I sell one ETH for $800. I can use:
FIFO (first in first out) - cost basis would the first ETH, $300, which would result in a gain of $500.
LIFO (last in first out) - cost basis would be the third ETH, $400, which would result in a gain of $400.
Average cost - cost basis would be the average of the three ETH, $410, which would result in a gain of $390.
Specific identification - I can just choose which coin's cost basis to use. For example, I can choose the second ETH's cost basis, $530, which would result in the lowest capital gains possible of $270.
 
7. If I end up with a net capital loss, can I claim this on my tax return?
Capital gains and capital losses are netted on your tax return. If the net result of this is a capital loss, you may offset it against ordinary income on your tax return, but only at a maximum of $3,000 per year. The remaining losses are carried forward until you use them up.
 
8. What is the tax rate on my capital gains?
If long-term, the tax rate is 0%, 15%, or 20%, depending on your ordinary income tax bracket. If short-term, the tax bracket you’ll be in will depend on your total income and deductions. The ordinary income tax brackets are 10%, 15%, 25%, 28%, 33%, 35%, and 39.6% in 2017 and 10%, 12%, 22%, 24%, 32%, 35%, and 37% in 2018 and going forward.
Here are the 2017 and 2018 ordinary income tax brackets.
Here are the 2017 and 2018 long-term capital gains tax brackets.
Here is a detailed article on how the calculation of long-term capital gains tax work and how you can take advantage of the 0% long-term capital gains rate, if applicable.
 
9. If I mine ETH or any other cryptocurrency, is this taxable?
Yes. IRS Notice 2014-21 states that mining cryptocurrency is taxable. For example, if you mined $7,000 worth of ETH in 2017, you must report $7,000 of income on your 2017 tax return. For many taxpayers, this will be reported on your Schedule C, and you will most likely owe self-employment taxes on this income as well. The $7,000 becomes the cost basis in your ETH position.
 
10. How do I calculate income for the cryptocurrency I mined?
This is the approach I would take. Say I mined 1 ETH on December 31, 2017. I would look up the daily historical prices for ETH and average the high and low prices for ETH on December 31, 2017, which is ($760.35 + $710.12) / 2 = $735.24. I would report $735.24 of income on my tax return. This would also be the cost basis of the 1 ETH I mined.
 
11. Can I deduct mining expenses on my tax return?
If you are reporting the income from mining on Schedule C, then you can deduct expenses on Schedule C as well. You can deduct the portion of your electricity costs allocated to mining, and then you depreciate the cost of your mining rig over time (probably over five years). Section 179 also allows for the full deduction of the cost of certain equipment in year 1, so you could choose to do that if you wanted to instead.
 
12. If I receive ETH or other cryptocurrency as a payment for my business, is this taxable?
Yes. Similar to mining, your income would be what the value of the coins you received was. This would also be your cost basis in the coins.
 
13. If I received Bitcoin Cash as a result of the hard fork on August 1, 2017, is this taxable?
Most likely yes. For example, if you owned 1 Bitcoin and received 1 Bitcoin Cash on August 1, 2017 as a result of the hard fork, your income would be the value of 1 Bitcoin Cash on that date. Bitcoin.tax uses a value of $277. This value would also be your cost basis in the position. Any other hard forks would probably be treated similarly. Airdrops may be treated similarly as well, in the IRS' view.
Here are a couple more good articles about reporting the Bitcoin Cash fork as taxable ordinary income. The second one goes into depth and cites a US Supreme Court decision as precedent: one, two
 
14. If I use ETH, BTC, or other cryptocurrency to purchase goods or services, is this a taxable transaction?
Yes. It would be treated as selling your cryptocurrency for USD, and then using that USD to purchase those goods or services. This is because the IRS treats cryptocurrency as property and not currency.
 
15. Are cryptocurrencies subject to the wash sale rule?
Probably not. Section 1091 only applies to stock or securities. Cryptocurrencies are not classified as stocks or securities. Therefore, you could sell your ETH at a loss, repurchase it immediately, and still realize this loss on your tax return, whereas you cannot do the same with a stock. Please see this link for more information.
 
16. What if I hold cryptocurrency on an exchange based outside of the US?
There are two separate foreign account reporting requirements: FBAR and FATCA.
A FBAR must be filed if you held more than $10,000 on an exchange based outside of the US at any point during the tax year.
A Form 8938 (FATCA) must be filed if you held more than $75,000 on an exchange based outside of the US at any point during the tax year, or more than $50,000 on the last day of the tax year.
The penalties are severe for not filing these two forms if you are required to. Please see the second half of this post for more information on foreign account reporting.
 
17. What are the tax implications of gifting cryptocurrency?
Small gifts of cryptocurrency do not have a tax implication for the gift giver or for the recipient. The recipient would retain the gift giver's old cost basis, so it could be a good idea for the gift giver to provide records of the original cost basis to the recipient as well (or else the recipient would have to assume a cost basis of $0 if the recipient ever sells the cryptocurrency).
Large gifts of cryptocurrency could start having gift and estate tax implications on the giver if the value exceeds more than $14,000 (in 2017) or $15,000 (in 2018) per year per recipient.
Here's a good article on Investopedia on this issue.
An important exception applies if the gift giver gives cryptocurrency that has a cost basis that is higher than the market value at the time of the gift. Please see the middle of this post for more information on that.
 
18. Where can I learn even more about cryptocurrency taxation?
Unchained Podcast: The Tax Rules That Have Crypto Users Aghast
IRS Notice 2014-21
Great reddit post from tax attorney Tyson Cross from 2014
 
19. Are there any websites that you recommend in helping me with all of this?
Yes - I have used bitcoin.tax and highly recommend it. You can import directly from an exchange to the website using API, and/or export a .csv/excel file from the exchange and import it into the website. The exchanges I successfully imported from were Coinbase, GDAX, Bittrex, and Binance. The result is a .csv or other file that you can import into your tax software.
I have also heard good things about cointracking.info but have not personally used it myself.
 
20. Taxation is theft!
I can't help you there.
 
 
That is the summary I have for now. There have been a lot of excellent cryptocurrency tax guides on reddit, such as this one, this one, and this one, but I wanted to post my short summary guide on ethtrader which hopefully answers some of the questions you all may have about US taxation of ETH and other cryptocurrencies. Please let me know if you have any more questions, and I’d be happy to answer them to the best of my ability. Thank you!
Regarding edits: I have made many edits to my post since I originally posted it. Please refresh to see the latest edits to my guide. Thank you.
 
Disclaimer:
The information contained within this post is provided for informational purposes only and is not intended to substitute for obtaining tax, accounting, or financial advice from a professional.
Any U.S. federal tax advice contained in this post is not intended to be used for the purpose of avoiding penalties under U.S. federal tax law.
Presentation of the information via the Internet is not intended to create, and receipt does not constitute, an advisor-client relationship. Internet users are advised not to act upon this information without seeking the service of a tax professional.
submitted by Nubboi to ethtrader [link] [comments]

A Lost Gem In A Sea Of Shitcoins (vol. 2)

What’s up everyone! (TL:DR at the end this time, I've learned from my past mistakes haha)
 
Yep, it’s me again! New case for a new coin that seems to have taken off lately (and for good reason!) I’ve been researching it deeply lately. For those of you wondering (and in a voluntary spirit of being transparent), I do hold nice bags of the coins I post about. However I do not dump them. I’m a HODLER at heart, and love to invest in and hold coins that have a purpose. You know, like, an actual purpose. I have a Phore masternode, which i intend to keep running indefinitely. I also have a decent chunk of COSS, which I also intend to keep for a very long time (3+ years, until they are a full crypto one-stop-solution).
 
If you’ve missed my previous post, you can find it here:
 
A Lost Gem In A Sea Of Shitcoins, Vol. 1: https://www.reddit.com/CryptoCurrency/comments/7h69xa/a_lost_gem_in_a_sea_of_shitcoins/
 
For those who do not know me, or haven’t read my previous post, here’s my intro: I come from a business & logistics management background. I started investing in cryptocurrencies and trading a little more than six months ago. I am very detail oriented and I’ve been researching all kinds of cryptos, for hours a day, for the past six months. Cryptocurrencies went from a simple hobby to a burning passion during that 6 month period.
 
I’ve spotted great coins at great prices, and it seems I keep doing so! Firstly, Ethereum at 150$. Then NEO when it was antshares (sub-3$), Gas when it was antcoin (sub-30c), OMG when it was sub-1$, ETP at 1$ (ended up selling at 5$, too many wallet issues and kind of lost faith in it), COSS at 6 cents, that ended up getting a lot of visibility due to my last post (23K+ views), and finally, Phore at 60cents.
 
It took me less than an hour of research to understand Phore’s potential. I immediately purchased and setup a Masternode after seeing how undervalued it is compared to coins like Dash, PivX, and other privacy/masternode coins. I must admit, i FOMO’ed in really fast, but then kept on researching after I had secured my cheap PHR, and the more I researched, the more I saw the vision.
 
For those of you that don’t know, Phore is a fork of PIVX. It is a Masternode/Proof of Stake hybrid (MN + PoS), meaning 60% of the block reward goes to Masternodes, 30% to stakers, and 10% is left for the “development fund”.
 
For the newbs reading this (welcome, by the way!), a masternode is basically a node that you deploy on a virtual server (or on your own computer) and it basically verifies the blockchain and maintains concensus alongside the other nodes. You need to “lock” 10000 phore to deploy a Masternode. Proof of Stake, on the other end, basically means you can purchase coins and “Stake them” (aka put them in your wallet) and they will also be used to validate the blockchain. Both masternodes and staking will give you rewards, in Phore coins. Masternodes more than staking, obviously, as you “lock” a rather high amount of coins to deploy one.
 
Allright, so, what’s so good about this Phore coin? Isn’t it just a PivX knock-off?
 
1) Well, first of all, The MN/PoS structure is simply genius IMO. Dash’s value has gone up a lot simply because there is so little in circulation and most of the coins are locked up in masternodes. But Dash is MN/PoW, basically Masternodes + Mining. Miners do not have as big an incentive to hold unlike MN’s, it’s their mining equipment that generates them Dash. In Phore’s Case, yes, we do have the Masternodes locking up most of the supply, but we also have the stakers that are incentivized to lock up their coins to stake, and generate some extra coins.
 
2) Which brings us to point 2. There is a BIG incentive to buy and hold this coin. Masternodes are being deployed at a rate of 5 to 10 per day. This means 50 to 100k phore are being purchased and locked up, every day. On top of that, people that cannot afford a costly masternode, can still buy a few thousand coins and earn “interests” as they help validating the blockchain too! This basically drains the order book, fast, and skyrockets the price.
 
3) What happens when the vast majority (65%+) of the coins are locked up in masternodes, and from the 35% remaining, most of it goes into “staking”? Here’s what happens: the supply becomes increasingly low, the demand increasingly high. People that own masternodes or own decent amounts of coins don’t wanna sell, as the “interests” they make double, triple, quadruple in value, incentivizing them even further to hold.
 
4) What I’ve described in points 1 to 3 is pretty basic stuff. Economics 101. It’s a positive feedback loop: More MN’s/stakers = less coins in circulation = higher price = higher “interests” earned = more people want in = even less coins in circulation = even higher price = even higher “interests”, and it repeats itself until an equilibrium is reached (judging from PivX, equilibrium is at or around 425M market cap). Everybody wants in early on PoS coins, even moreso with MN coins, because of that simple fact. Early dash masternode owners are pretty much laughing right now. Everyone FOMO’s a good masternode coin, and that’s a fact, pure and simple.
 
5) Alright, now let’s dive into the actual “technical” merits of Phore. Phore is developed by an anonymous team. The same team that created Kryptcoin a few years ago (a coin with a decentralized marketplace). The team performed in a stellar fashion with kryptcoin, as well as their marketplace. Unfortunately, they were way ahead of their time with the marketplace. Most people didn’t even know what a bitcoin was back then. Phore definitely has this “old school, underground project” feel to it, and you will notice a good chunk of its community on discord are crypto believers from well before crypto was even talked about. They are “remaking” Kryptcoin from scratch, with tons of added features, and an even better marketplace. The fact they pulled it off back then only further reassures me that they will pull it off even better this time. This team actually has something under its belt.
 
6) Phore will have SegWit, as well as Smart Contracts. Yep, you read that right, smart contracts and dApps will eventually be running on PHORE. Zerocoin protocol as well for completely anonymous transactions.
 
7) Phore is integrating a Decentralized marketplace based on OpenBazaar’s codebase. They aim to have it running smoother, with a better UI and make it very intuitive. If there’s one team you have to believe can pull it off, it’s definitely the Phore dev team (They already did it in the past!) And the best part is that it’s not for late 2018 unlike some other coins. Nope. We are already in the testing phase, and it should launch somewhere in Q1 2018.
 
8) Although it is obvious, I thought I’d mention it for the less familiar: 10% of each block reward goes to the development fund. This means the project has a constant flow of money to hire new devs, grow the marketing team, grow the project, pay for exchange listing fees, etc. (They’ve already added an extra dev & an extra marketing team member, just this week, and are already hiring right now for another dev position. So, if you are a talented dev, feel free to apply!)
 
9) They have applied for Binance today. Although this does NOT mean it is guaranteed, at all, it’s good to see them applying to a variety of exchanges. It is currently only available on cryptopia and is skyrocketing. Getting added to Binance, Bittrex and the likes would make it explode in a ridiculous way.
 
10) Point number 10 will be a little off topic, to put us in context for point #11. Personally, I like to contribute feedback to projects i truely believe in. One example I came up with was a cool idea for COSS and I let Rune (COSS founder) know about it. Basically, when COSS will get FIAT trading, it is impossible for people to get USD and EUR “fee split” from holding COSS, as USD and EUR are not compatible with the DAO, which is an Ethereum Smart Contract.
 
My way around this was to create a “COSSusd and a COSSeur”, basically an ERC20 token that’s automatically created/destroyed as FIAT is deposited/withdrawn from the exchange. People sending fiat over to COSS would basically be credited with the “COSSusd or COSSeur”, trade with it, and then when they want to withdraw they would exchange their ERC20 for FIAT and withdraw it via wire transfer. The whole thing would be smart-contract powered and transparent so there is always the same number of COSSusd and Real USD on COSS.
 
Basically, this would result in COSS holders receiving “fiat dividends” as well, and not only “crypto dividends”. Rune is currently in the process of getting legal opinion on this idea as he is an adamant believer in compliance and wants to do everything by the Book.
 
11) Well, for Phore, I’ve also contributed a few ideas to attempt to make the marketplace go viral. Viral as in mainstream viral, not only viral in the crypto-space. The devs, advisors, marketing team, advisors and even the community were all very impressed and took notes of everything. Now I cannot comment on what will and what won’t be implemented, but overall my feedback was received in an extremely positive manner. Here goes:
 
To get the mainstream we need something like: https://www.reddit.com/vertcoin/comments/7ixkbf/vertbase_a_vertcoin_to_usd_exchange/
 
Basically an easy gateway that's only fiat > phore. Coded in a way that when you purchase with fiat it automatically sends it to your wallet (and obviously we'd need to have a phore mobile wallet app).
 
This is how Phore will go mainstream, no way around it, unless we wanna wait 10+ years for every crypto "newbies" coming in to actually go through the lengthy process of learning about crypto, how they work, familiarize themselves, etc. So many newbies flooding in, we definitely need easy one-click fiat > phore solution.
 
Plus it would be super easy for me or phore marketing team (or both, working together) to put up a small nice and concise "press release kit" and send it out to all the major media outlets (all the big blogs, bloomberg, yahoo finance, lifestyle blogs for the libertarian / marijuana users / all the people that are into the whole “freedom thing” as well as all media outlets targeted to the 18-30 crowd).
 
Facebook advertising campaigns (targeting 18-35 age range, people interested in crypto, people interested in "online commerce", etc etc.) as well as google advertising campaigns (people search amazon or ebay, and they find our sponsored paid ad on top saying "thinking of trying amazon? Check out the phore marketplace, it's cheaper, blockchain-powered and 100% decentralized".
 
*Instagram campaigns as well, lots of the 16-30 crowd there. Instagram, google, Facebook and Reddit campaigns and any other viable channels. We can do all these things AND succeed at them quite easily, all we need is 1) an intuitive marketplace, which the devs are busting their asses off to achieve and we KNOW it'll be phenomenal, and 2) a fiat > phore gateway integrated. That second point will make or break it in terms of mainstream adoption, hence why it's indispensable to have it before we tackle "mainstream marketing" via FB, IG, Google, Reddit, Twitter, Blogs & Other Media outlets.
 
Ideally the fiat > phore gateway would be on the website itself, so people get credited their phore directly on their marketplace account. With a mobile wallet being a nice add-on of course so they can keep the extra phore in there when not in use, and 1-click transfer from marketplace to mobile wallet and vice versa, "a la paypal/dash evolution.
 
TL;DR for the lazy: Masternodes + PoS // Self-sufficient project due to the “treasury fund” // Stellar team who has ALREADY DONE THIS before // Currently underserved (cryptopia only) // Team applied to exchanges including Binance // Segwit + Smart Contracts + Strong privacy features // Decentralized Marketplace being beta tested as we speak and launching Q1 2018 // Strong incentive to hold as both Masternodes AND stakers dry up the supply for staking purposes, which creates a positive feedback loop (coins get bought, price goes up making the “staking & MN rewards go up”, making more people want a MN or Stake, more people buy, price rises again, “interests” earned go up, rinse and repeat in an endless loop until equilibrium is reached).
 
Currently, a masternode generates roughly 120phweek. Calculate Phore’s current price multiplied by 120 and you’ll get a pretty solid estimate of the weekly revenue generated from a Masternode.
 
Lastly, here’s a cool pic comparing Phore to other privacy coins, for you visual folks: https://i.imgur.com/ZVVEqyH.jpg
 
As well as a cool short video from one of the winners of the community video contest: https://www.youtube.com/watch?v=P4veIgQmmBs
 
Well, that’s it for now folks! As usual, not investment advice, and always do your own research before coming to conclusions. I am just a random internet stranger after all.
 
Cheers! :)
submitted by globetrotter_s14 to CryptoCurrency [link] [comments]

Cryptocurrency and Blockchain – Industry News – (03.15.19 – 03.22.19)

Total Market Cap, as of 03.22.19 at 3:00pm (PST): $140,255,684,074 (+1.95%)

Missed last week’s update? Click here

STORY OF THE WEEK

•CEO of Square Jack Dorsey announces its intention to hire 3-4 engineers and 1 designer to work on open source contributions to the Bitcoin/cryptocurrency ecosystem. New hires will not be focused on Square’s commercial interests, but rather what’s best for the crypto community.

ADOPTION

Western Union partners with Stellar based start-up Thunes to enable clients to transfer funds directly to any mobile wallet globally.

CRYPTOCURRENCY TRADING SERVICES

Coinbase Pro removes support for stop orders and adjusts its trading fees schedule. Those who trade under $100,000 will see a fee increase of 33%. Other transactional thresholds will see no changes or otherwise a reduction of 13-50%.
Coinbase lists Stellar Lumens (XLM) on its web and native mobile applications (iOS, Android) on March 18th, 2019.
Binance launches a new fiat-to-crypto gateway in Australia, dubbed “Binance Lite”. The new platform allows for Bitcoin purchase in any of the 1300 newsagent stores for a 5% fee.
Huobi announces Huobi Prime, a platform allowing traders to speculate on tokens before they list on exchanges in what’s called an IEO (Initial Exchange Offering).
Cryptopia resumes trading with 40 pairs as of March 18th, 2019. Those who have lost funds as a result of the hack in January will be deposited a Cryptopia Loss Marker (CLM) to keep track of lost coins in New Zealand Dollars.
Huobi Global and OkEx announce support for upcoming Tron-based Tether (USDT).
• A report from trading analytics firm The Tie suggests an estimated 87% of cryptocurrency trading volume may be artificially manufactured. This was determined by cross-referencing platform visitor analytics and reported volume by the exchanges.

REGULATION

•Senior advisor at the U.S Securities and Exchange Commission (SEC) Valerie Szczepanik stated that algorithmic stablecoins – tokens that maintain its stability through financial mechanisms may be “getting into the land of securities”.
The Japanese Cabinet, an executive agency of the Japanese government approves a law that bans margin trading that exceeds 4x from the initial position. Margin-enabled exchanges must now also register no later then 18 months from the effective date the law goes into effect.

TECHNOLOGY

•Major mining hardware manufacture Bitmain releases Antminer Z11 on March 19th, 2019. The new miner will be 60% more efficient on electricity and tout a 3x increase in hashing power to mine cryptocurrencies that is based on the Equihash algorithm (ZCash).

INSTITUTIONALIZATION

Kakao, an internet conglomerate in South Korea with an estimated 44M users is looking to integrate a cryptocurrency wallet into its flagship messaging app – KakaoTalk.
•Worlds largest manufacture of cryptocurrency mining equipment Bitmain, looks to deploy 200,000 miners in China’s southwestern provinces to take advantage of cheap hydroelectric power.

PEOPLE

•Major South Korean cryptocurrency exchange Bithumb to reduce staffing by 50%. This will effectively reduce the head count of the team from 310 to 150.
•Jared Rice Sr, founder of $4.2 million USD crypto bank scam AriseBank pleads guilty to 1 of 3 outstanding charges. Plea will sentence Jared to 60 months in prison with a maximum sentence of 20 years and $5 million USD fine.
•Former BTC-e operator Alexander Vinnik currently accused for money laundering to the tune of $4 billion USD appeals for extradition to Russia for humanitarian reasons.

TWITTER

@jack – #BitcoinTwitter and #CryptoTwitter! Square is hiring 3-4 crypto engineers and 1 designer to work full-time on open source contributions to the bitcoin/crypto ecosystem. Work from anywhere, report directly to me, and we can even pay you in bitcoin! Introducing @sqcrypto.
@iamdevloper – If anyone wants a better understanding of Blockchain, I can thoroughly recommend the Fyre Festival documentary on Netflix.
@danheld – Dollar: In God we trust. Bitcoin: In math we trust.
submitted by Edmund_N to CryptoCurrency [link] [comments]

Daily analysis of cryptocurrencies 20190922(Market index 37 — Fear state)

Daily analysis of cryptocurrencies 20190922(Market index 37 — Fear state)

https://preview.redd.it/rra4l595mco31.png?width=526&format=png&auto=webp&s=5c8129568754561b537845f97a1898394d6e1c23

I am very sorry for everyone, due to network reasons, delayed update
Facebook Buys Chatbot Startup To Integrate Into Calibra According to a report of Israeli business newspaper the Marker on Sept 19, Facebook has acquired the artificial intelligence-based chat-bot startup Servicefriend for customer service for Calibra, the digital wallet for Facebook’s planned Libra cryptocurrency.
UK Regulators Attempting To Ban Crypto Derivatives, CoinShares Fights Back CoinShares is responding to UK regulators over a potential ban of various crypto products. The London-based digital asset management firm, which provides financial products and services for professional investors, says that UK regulator are “cherry picking” information about cryptocurrencies to cobble together enough ammunition to stop the sale of certain investment products that reference crypto assets.
Huawei Partners WIth Blockchain-Powered Social Media Platform Howdoo Huawei Mobile Services confirmed via its official Twitter handle the partnership with Howdoo, a blockchain-powered social media platform. Howdoo claims that they are huge fans of Huawei devices, and they have been in proactive conversations with Huawei about how they can develop Howdoo to best fit into the Huawei ecosystem, including mobile, Harmony OS, and other exciting innovations. As per the announcement, the Howdoo App will be available next week as a featured App in the Huawei App Gallery
Armenian IT Company Accused Of Illegal Electricity Use To Mine Crypto On Sept. 21, in an announcement from the Armenian National Security Service, the organization accused an IT company of illegally mining cryptocurrencies from inside a hydropower plant. The state agency reported that the IT company had installed cryptocurrency mining equipment inside one of the hydropower plants operating in Armenia and as a result illegally consumed 1.5 kilowatt-hours of electricity — worth more than $150,000, locally — over the course of 1.5 years.

Encrypted project calendar(September 22, 2019)

NPXS/Pundi X: Pundi X (NPXS) PundiX Labs will officially launch the XPOS transaction at the “AkiColle” event in Tokyo on September 22.

Encrypted project calendar(September 23, 2019)

BTC/Bitcoin: Bakkt, the digital asset platform led by ICE, the parent company of the New York Stock Exchange and the world’s second largest trading group, will launch a bitcoin physical delivery futures contract on September 23. EOS/EOS: EOS main network is expected to upgrade version 1.8 on September 23 DCDecred: Project leader Jake Yocom-Piatt of Decred (DCR) Decrex will attend the Encryption Community Party in San Francisco on September 23 and will deliver a speech.

Encrypted project calendar(September 24, 2019)

ENG/Enigma: Enigma (ENG) ENG main network token snapshot will end on September 24, the original start time is August 26. LINA (LINA): Lina Review will host the Lina network launch event in Ho Chi Minh City, Vietnam on September 24th and release a 10-year operational strategy. Cappasity (CAPP): Cappasity will showcase its digital signage solutions in luxury stores at the Paris Retail Week from September 24th to 26th.

Encrypted project calendar(September 25, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on September 25th at the University of Southern California in Los Angeles on the theme of “Building Your Own IoT.” Quant (QNT): The Quant project will participate in a marketing conference in London from September 25th to 26th, which will focus on data technology.

Encrypted project calendar(September 26, 2019)

ADA/Cardano: The Cardano (ADA) Cardano community will host a party in Washington, DC on September 26.

Encrypted project calendar(September 27, 2019)

BTC/Bitcoin: Cripto Latin Fest will be held in Cordoba, Argentina from September 27th to 29th. Switcheo (SWTH): After a one-year token exchange process, the project team will officially end the SWH→SWTH token exchange process on September 27.

Encrypted project calendar(September 28, 2019)

ADA/Cardano: Cardano (ADA) Cardano (ADA) 2nd Anniversary, Cardinal Foundation, IOHK and EMURGO main members will participate in community celebrations in Plovdiv, Bulgaria on September 28. TOP Network (TOP): The TOP Network team will hold a hackathon in Prague, Czech Republic from September 28th to 29th. Horizen (ZEN): Horizen project BD Rep Vano Narimandize will discuss the current status and development of sidechain technology at the Industry 4.0 Blockchain Summit on September 28.

Encrypted project calendar(September 29, 2019)

GAME/GameCredits: GameCredits (GAME) is expected to perform hard forks on September 29th at block height 2519999

Encrypted project calendar(September 30, 2019)

INS/Insolar: Insolar (INS) will be on September 30th ERD/Elrond: Elrond (ERD) will conduct main network test on September 30th NULS/NULS: The NULS team will plan to beta the ChainBOX in the third quarter. CS/Credits: Credits (CS) will exchange tokens and bug rewards in the third quarter QTUM/Qtum: Quantum Chain (QTUM) is expected to complete lightning network beta in the third quarter XEM/NEM: New World Bank (XEM) will release mobile wallet and computer wallet in the third quarter HC/HyperCash: hypercash (HC) will complete community management agreement in the third quarter

Encrypted project calendar(October 01, 2019)

HT/Huobi Token: The financial base public link jointly created by Firecoin and Nervos is expected to be open source in October. RVN/Ravencoin: Ravencoin (RVN) Ravencoin will perform a hard fork on October 1. ADA/Cardano: Cardano (ADA) plans to hold technical consensus meeting in Amsterdam on October 1st XRC/Bitcoin Rhodium: Bitcoin Rhodium (XRC) will record account balance awards on October 1st PPC/Peercoin: Peercoin (PPC) will perform Peercoin v0.8 (code tang lang) hard fork on October 1st

Encrypted project calendar(October 02, 2019)

BNB/Binance Coin: The 2019 DELTA Summit will be held in Malta from October 2nd to 4th. The DELTA Summit is Malta’s official blockchain and digital innovation campaign. CAPP/Cappasity: The Cappasity (CAPP) London Science and Technology Festival will be held from October 2nd to 3rd, when the Cappasity project will be attended by the Science and Technology Festival.

Encrypted project calendar(October 03, 2019)

ETC/Ethereum Classic: The 2019 Ether Classic (ETC) Summit will be held in Vancouver on October 3–4

Encrypted project calendar(October 05, 2019)

Ontology (ONT): Ony Ji will attend the blockchain event in Japan on October 5th and explain the practical application based on the ontology network.

Encrypted project calendar(October 06, 2019)

SPND/ Spendcoin: Spendcoin (SPND) will be online on October 6th

Encrypted project calendar(October 07, 2019)

GNO/Gnosis: Gnosis (GNO) will discuss the topic “Decentralized Trading Agreement Based on Ethereum” will be held in Osaka, Japan on October 7th. Kyber and Uniswap, Gnosis and Loopring will attend and give speeches.

Encrypted project calendar(October 08, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Since early-July, the Bitcoin price has entered into a drawn-out lull, with there being a clearly tightening trade range that has resulted in Bitcoin’s realized volatility falling into a range of 1.2%/day. Here’s Why Not only is volatility decreasing but so are volumes.out that CME’s BTC futures saw their lowest volumes in four months, implying indirection in this market.
This declining volume in the CME BTC futures market has been echoed over in the spot market. According to CoinMarketCap, cryptocurrency exchanges in aggregate have processed $51 billion worth of trades over the past 24 hours, which is a far cry from the $120+ billion seen during late-June and early-July of this very year. Sure, the data site is known not to be 100% accurate, but the decline in registered crypto volume accentuates the consolidatory period that Bitcoin is in.
But this lull might be about to come to an abrupt end.
Review previous articles: https://medium.com/@to.liuwen

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submitted by liuidaxmn to u/liuidaxmn [link] [comments]

On the new batch of comments to the SEC about the SolidX ETF, some honorable mentions, and some negative comments

The SEC just posted a new batch of 286 comments on the SolidX ETF, bringing the total to 1147. I am skimming through them and posted some of the best already to this sub.
The vast majority are short comments, obviously submitted in response to some mail-in campaign. The names sound very much like the invented ones of spam emails that I have been receiving for years. A telling detail is the lack of a middle initial.
They also mostly repeat the same arguments, and many are obviously written by people who don't understand what is the ETF, only that if that SEC thing approves it then the bitcoin price will go to the moon. I have just seen a dozen that start with the same phrase "I hearby[sic] state my acceptance and full support..."
Some are so sloppy that they submit with one name but sign with a different name.
Here are some honorable mentions:
A few negative comments:
submitted by jstolfi to Buttcoin [link] [comments]

Decred Journal – August 2018

Note: you can read this on GitHub (link), Medium (link) or old Reddit (link) to see all the links.

Development

dcrd: Version 1.3.0 RC1 (Release Candidate 1) is out! The main features of this release are significant performance improvements, including some that benefit SPV clients. Full release notes and downloads are on GitHub.
The default minimum transaction fee rate was reduced from 0.001 to 0.0001 DCkB. Do not try to send such small fee transactions just yet, until the majority of the network upgrades.
Release process was changed to use release branches and bump version on the master branch at the beginning of a release cycle. Discussed in this chat.
The codebase is ready for the new Go 1.11 version. Migration to vgo module system is complete and the 1.4.0 release will be built using modules. The list of versioned modules and a hierarchy diagram are available here.
The testnet was reset and bumped to version 3.
Comments are welcome for the proposal to implement smart fee estimation, which is important for Lightning Network.
@matheusd recorded a code review video for new Decred developers that explains how tickets are selected for voting.
dcrwallet: Version 1.3.0 RC1 features new SPV sync mode, new ticket buyer, new APIs for Decrediton and a host of bug fixes. On the dev side, dcrwallet also migrated to the new module system.
Decrediton: Version 1.3.0 RC1 adds the new SPV sync mode that syncs roughly 5x faster. The feature is off by default while it receives more testing from experienced users. Other notable changes include a design polish and experimental Politeia integration.
Politeia: Proposal editing is being developed and has a short demo. This will allow proposal owners to edit their proposal in response to community feedback before voting begins. The challenges associated with this feature relate to updating censorship tokens and maintaining a clear history of which version comments were made on. @fernandoabolafio produced this architecture diagram which may be of interest to developers.
@degeri joined to perform security testing of Politeia and found several issues.
dcrdata: mainnet explorer upgraded to v2.1 with several new features. For users: credit/debit tx filter on address page, showing miner fees on coinbase transaction page, estimate yearly ticket rewards on main page, cool new hamburger menu and keyboard navigation. For developers: new chain parameters page, experimental Insight API support, endpoints for coin supply and block rewards, testnet3 support. Lots of minor API changes and frontend tweaks, many bug fixes and robustness improvements.
The upcoming v3.0 entered beta and is deployed on beta.dcrdata.org. Check out the new charts page. Feedback and bug reports are appreciated. Finally, the development version v3.1.0-pre is on alpha.dcrdata.org.
Android: updated to be compatible with the latest SPV code and is syncing, several performance issues are worked on. Details were posted in chat. Alpha testing has started, to participate please join #dev and ask for the APK.
iOS: backend is mostly complete, as well as the front end. Support for devices with smaller screens was improved. What works now: creating and recovering wallets, listing of transactions, receiving DCR, displaying and scanning QR codes, browsing account information, SPV connection to peers, downloading headers. Some bugs need fixing before making testable builds.
Ticket splitting: v0.6.0 beta released with improved fee calculation and multiple bug fixes.
docs: introduced new Governance section that grouped some old articles as well as the new Politeia page.
@Richard-Red created a concept repository sandbox with policy documents, to illustrate the kind of policies that could be approved and amended by Politeia proposals.
decred.org: 8 contributors added and 4 removed, including 2 advisors (discussion here).
decredmarketcap.com is a brand new website that shows the most accurate DCR market data. Clean design, mobile friendly, no javascript required.
Dev activity stats for August: 239 active PRs, 219 commits, 25k added and 11k deleted lines spread across 8 repositories. Contributions came from 2-10 developers per repository. (chart)

Network

Hashrate: went from 54 to 76 PH/s, the low was 50 and the new all-time high is 100 PH/s. BeePool share rose to ~50% while F2Pool shrank to 30%, followed by coinmine.pl at 5% and Luxor at 3%.
Staking: 30-day average ticket price is 95.6 DCR (+3.0) as of Sep 3. During the month, ticket price fluctuated between a low of 92.2 and high of 100.5 DCR. Locked DCR represented between 3.8 and 3.9 million or 46.3-46.9% of the supply.
Nodes: there are 217 public listening and 281 normal nodes per dcred.eu. Version distribution: 2% at v1.4.0(pre) (dev builds), 5% on v1.3.0 (RC1), 62% on v1.2.0 (-5%), 22% on v1.1.2 (-2%), 6% on v1.1.0 (-1%). Almost 69% of nodes are v.1.2.0 and higher and support client filters. Data snapshot of Aug 31.

ASICs

Obelisk posted 3 email updates in August. DCR1 units are reportedly shipping with 1 TH/s hashrate and will be upgraded with firmware to 1.5 TH/s. Batch 1 customers will receive compensation for missed shipment dates, but only after Batch 5 ships. Batch 2-5 customers will be receiving the updated slim design.
Innosilicon announced the new D9+ DecredMaster: 2.8 TH/s at 1,230 W priced $1,499. Specified shipping date was Aug 10-15.
FFMiner DS19 claims 3.1 TH/s for Blake256R14 at 680 W and simultaneously 1.55 TH/s for Blake2B at 410 W, the price is $1,299. Shipping Aug 20-25.
Another newly noticed miner offer is this unit that does 46 TH/s at 2,150 W at the price of $4,720. It is shipping Nov 2018 and the stats look very close to Pangolin Whatsminer DCR (which has now a page on asicminervalue).

Integrations

www.d1pool.com joined the list of stakepools for a total of 16.
Australian CoinTree added DCR trading. The platform supports fiat, there are some limitations during the upgrade to a new system but also no fees in the "Early access mode". On a related note, CoinTree is working on a feature to pay household bills with cryptocurrencies it supports.
Three new OTC desks were added to exchanges page at decred.org.
Two mobile wallets integrated Decred:
Reminder: do your best to understand the security and privacy model before using any wallet software. Points to consider: who controls the seed, does the wallet talk to the nodes directly or via middlemen, is it open source or not?

Adoption

Merchants:

Marketing

Targeted advertising report for August was posted by @timhebel. Facebook appeal is pending, some Google and Twitter campaigns were paused and some updated. Read more here.
Contribution to the @decredproject Twitter account has evolved over the past few months. A #twitter_ops channel is being used on Matrix to collaboratively draft and execute project account tweets (including retweets). Anyone with an interest in contributing to the Twitter account can ask for an invitation to the channel and can start contributing content and ideas there for evaluation by the Twitter group. As a result, no minority or unilateral veto over tweets is possible. (from GitHub)

Events

Attended:
For those willing to help with the events:
BAB: Hey all, we are gearing up for conference season. I have a list of places we hope to attend but need to know who besides @joshuam and @Haon are willing to do public speaking, willing to work booths, or help out at them? You will need to be well versed on not just what is Decred, but the history of Decred etc... DM me if you are interested. (#event_planning)
The Decred project is looking for ambassadors. If you are looking for a fun cryptocurrency to get involved in send me a DM or come talk to me on Decred slack. (@marco_peereboom, longer version here)

Media

Decred Assembly episode 21 is available. @jy-p and lead dcrwallet developer @jrick discussed SPV from Satoshi's whitepaper, how it can be improved upon and what's coming in Decred.
Decred Assembly episodes 1-21 are available in audio only format here.
New instructional articles on stakey.club: Decrediton setup, Deleting the wallet, Installing Go, Installing dcrd, dcrd as a Linux service. Available in both English and Portuguese.
Decred scored #32 in the August issue of Chinese CCID ratings. The evaluation model was explained in this interview.
Satis Group rated Decred highly in their cryptoasset valuation research report (PDF). This was featured by several large media outlets, but some did not link to or omitted Decred entirely, citing low market cap.
Featured articles:
Articles:
Videos:

Community Discussions

Community stats:
Comm systems news:
After another debate about chat systems more people began testing and using Matrix, leading to some gardening on that platform:
Highlights:
Reddit: substantive discussion about Decred cons; ecosystem fund; a thread about voter engagement, Politeia UX and trolling; idea of a social media system for Decred by @michae2xl; how profitable is the Obelisk DCR1.
Chats: cross-chain trading via LN; plans for contractor management system, lower-level decision making and contractor privacy vs transparency for stakeholders; measuring dev activity; what if the network stalls, multiple implementations of Decred for more resilience, long term vision behind those extensive tests and accurate comments in the codebase; ideas for process for policy documents, hosting them in Pi and approving with ticket voting; about SPV wallet disk size, how compact filters work; odds of a wallet fetching a wrong block in SPV; new module system in Go; security of allowing Android app backups; why PoW algo change proposal must be specified in great detail; thoughts about NIPoPoWs and SPV; prerequisites for shipping SPV by default (continued); Decred vs Dash treasury and marketing expenses, spending other people's money; why Decred should not invade a country, DAO and nation states, entangling with nation state is poor resource allocation; how winning tickets are determined and attack vectors; Politeia proposal moderation, contractor clearance, the scale of proposals and decision delegation, initial Politeia vote to approve Politeia itself; chat systems, Matrix/Slack/Discord/RocketChat/Keybase (continued); overview of Korean exchanges; no breaking changes in vgo; why project fund burn rate must keep low; asymptotic behavior of Decred and other ccs, tail emission; count of full nodes and incentives to run them; Politeia proposal translations and multilingual environment.
An unusual event was the chat about double negatives and other oddities in languages in #trading.

Markets

DCR started the month at USD 56 / BTC 0.0073 and had a two week decline. On Aug 14 the whole market took a huge drop and briefly went below USD 200 billion. Bitcoin went below USD 6,000 and top 100 cryptos lost 5-30%. The lowest point coincided with Bitcoin dominance peak at 54.5%. On that day Decred dived -17% and reached the bottom of USD 32 / BTC 0.00537. Since then it went sideways in the USD 35-45 / BTC 0.0054-0.0064 range. Around Aug 24, Huobi showed DCR trading volume above USD 5M and this coincided with a minor recovery.
@ImacallyouJawdy posted some creative analysis based on ticket data.

Relevant External

StopAndDecrypt published an extensive article "ASIC Resistance is Nothing but a Blockchain Buzzword" that is much in line with Decred's stance on ASICs.
The ongoing debates about the possible Sia fork yet again demonstrate the importance of a robust dispute resolution mechanism. Also, we are lucky to have the treasury.
Mark B Lundeberg, who found a vulnerability in atomicswap earlier, published a concept of more private peer-to-peer atomic swaps. (missed in July issue)
Medium took a cautious stance on cryptocurrencies and triggered at least one project to migrate to Ghost (that same project previously migrated away from Slack).
Regulation: Vietnam bans mining equipment imports, China halts crypto events and tightens control of crypto chat groups.
Reddit was hacked by intercepting 2FA codes sent via SMS. The announcement explains the impact. Yet another data breach suggests to think twice before sharing any data with any company and shift to more secure authentication systems.
Intel and x86 dumpsterfire keeps burning brighter. Seek more secure hardware and operating systems for your coins.
Finally, unrelated to Decred but good for a laugh: yetanotherico.com.

About This Issue

This is the 5th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack.
Contributions are welcome too. Some areas are collecting content, pre-release review or translations to other languages. Check out @Richard-Red's guide how to contribute to Decred using GitHub without writing code.
Credits (Slack names, alphabetical order): bee, Haon, jazzah, Richard-Red and thedecreddigest.
submitted by jet_user to decred [link] [comments]

PortBitX.COM White Paper

White Paper


We are a free society united by the basic idea of ​​freedom and justice, separated from geographical, religious, ethnic and gender prejudices, we reaffirm this document, and we promise to protect freedom and benefit people always and everywhere.

PortBitX Project

The PORTBITX project team creates a service whose main idea is to provide a mobile and convenient system where users and cryptocurrency owners can receive a wide range of services.

1 The essence of the project

The project team asks you to support the creation of a high-tech, simple, convenient and honest ecosystem for people who need to protect their rights and freedoms and use the right to be anonymous and financially independent.
The mission of the project is to create a service for storing and exchanging cryptocurrency assets, and also to become a tool allowing to conduct trading operations regardless of geographic location or language skills.
Advantages of the project:

2 State of affairs

Owing to ignorance or low awareness of people about the nature of cryptocurrency assets, cryptoindustry is mythologized in modern society. This applies to both ordinary people and officials in authority.
As a rule, in the minds of people there is more confidence in traditional financial instruments than in technology during their development, for example blockchain (the inability to change the information block / blockchain chain).History knows many examples when the governments of different countries, guided by the interests of their citizens, inadvertently led to the decline of advanced civil initiatives. This time is a period of complex formation of crypto-economics and state relations, which is still in the making.
The project that we present to your attention has no borders between countries and peoples. And we, a group of enthusiasts, would very much like to cooperate with large government organizations. But, to our deep regret, the states currently at the stage of formation of their cryptocurrency policies make mistakes that negatively affect the crypto community.
The market of cryptocurrency assets, which has a ten-year history of development, is very sensitive to various statements by officials. However, unqualified criticism cannot withstand the global trend. And no one can stop the future.
With all the desire, time does not stand still, technologies themselves continue to evolve, new technologies, new projects, new views that can be upgraded in the distant future, as well as processes of government and regulation themselves, to introduce innovative elements into them. We do not expect the distant future, and many tools are available now. And we have something to offer you.
This is especially relevant against the backdrop of the upcoming global financial crisis, with the inevitable decline in trust in state financial institutions; cryptocurrency have high chances of becoming more popular in the absence of other technological alternatives.
As we noted earlier, there is a lack of awareness among people about Blockchain technology and cryptocurrencies. These technologies are extremely undervalued, since there is much more benefit in them than one can imagine.
In the cryptocurrency assets industry itself, there are fraudsters at this time who are trying to steal or fraudulently get your money.
At the same time, there are many honest crypto projects that can not be realized due to stereotypes of perception of them as fraudulent. Objectively, they could be judged by their work and projects that have been successfully implemented. In principle, it is necessary to be cautious in terms of investing in any projects, even if they are guaranteed by reputable people or companies. No reputable person or company can match the level of guarantee and security of your assets, as in the Bitcoin blockchain.In any case, the decision to invest is yours, not imposed by restrictions, and the responsibility lies with you.
According to Road Map, we intend to fulfill all the terms of the agreement with our participants.
We do not promise you a high yield of our tokens, we put all our experience into the overall welfare of the project and each user. There will be no delisting on the service until the community votes for the opposite.
Our risk is collective. We urge you to make an adequate and balanced choice, instead of imposing any other opinion on you. We are not supporters of aggressive marketing.
There are many cryptocurrency assets and it’s difficult for a regular user to store and exchange them, as well as use them in everyday life.

3 Disadvantages:

These are problems that affect users and cryptocurrency in general.

4 Solution

The PORTBITX project guarantees compliance with all of its obligations and user rights.
We integrate community communications into our PORTBITX service.
Users are offered the following functions:

5 Competitors

Direct market competitors are all decentralized and centralized services related to the purchase or sale of cryptoactive assets, as well as services that provide storage services on a cold or hot crypto wallet.
More than 16 thousand services and more than 2 thousand types of cryptocurrency assets.
We have the opportunity to offer our clients a reliable and open service for the storage and exchange of cryptocurrency assets.
The main competitors are such large cryptocurrency exchanges like Binance, Bitfinix, Bitrix, etc. These multibillion-dollar projects that can affect the entire market and regulate pricing also have millions of crypto communities.
This position is deserved by their work. There are, of course, disadvantages associated with the opacity of their activities, unlike us, but in general they play an important role in the cryptoindustry. Their trading volumes are impressive and inspiring, their mistakes lead to sharp price fluctuations in the crypto market.
There are still crypto exchange. In comparison with the leaders, they are significantly inferior in the volume and number of users. These exchanges include the bulk of all crypto exchanges on the market.
There are also exchange services on the market that allow you to exchange fiat money for cryptocurrency assets. Most often the commission is quite expensive. For example, they can range from 1% to 20%. Such a high commission can be explained by the fact that the locations where buyers and sellers are located have government restrictions or are prohibited.
In addition to all of the above, there are closed groups in social networks or instant messengers. There, people discuss and agree on the price and method of payment. Commissions are often not high from 0% to 5%, but one should not hope that such operations can be safe, since personal meetings are always accompanied by a risk to life or health.
Exchange transactions in the onion network may have no guarantees at all that the transaction will be successful. In deep web, everything works on credibility / reputation, and the higher the seller’s rating, the higher the likelihood of a successful outcome of the transaction. In the same place, you can sell tagged or stolen cryptocurrency assets. For this, there are special mixing sites to hide the criminal trail. These types of exchange operations are the most unreliable.
For this reason, one of the safest types of exchange operations is large centralized cryptocurrency exchanges. Such centralized services, sometimes using their position, impose their own rules, which leads to a loss of users’ material values.
PORTBITX is designed to empower cryptographic protection for maximum convenience and simplicity, as well as to protect the funds and personal data of users.
PORTBITX connects all cryptocurrency assets into one transport hub and creates highly efficient curvilinear isolation of the currency to make cryptocurrency as safe and close to people as possible.

6 Segment

A registered user of the PORTBITX portal can be any person supporting the general idea of ​​a free society. Our users are anonymous and financially independent, with the right to vote and the right to receive common incomes obtained by the operation of the portal and the activity of the crypto community PORTBITX.
For whom we create a service:
It can be ordinary housewives, entrepreneurs, unemployed, self-employed, freelancers, people who invest in the future, wealthy investors, etc.
One of the advantages of the service is anonymity, which gives anyone the right to save and earn around the world online, without fear that tomorrow they will be forced to pay some strange fees or licenses.
Service users are interested in the distribution and real use of cryptocurrency.
Self-regulating community PORTBITX, respecting the rights of all project participants.
Service users are:
For trust in the trade service there will be a seller rating for all types of goods and services presented. There will be a book of reviews about each seller, where each buyer has the right to leave a review about the product or service. This scheme is actively used in Darknet. The basic principle: the more positive reviews, the more trust. Each seller values ​​his authority and thus provides the best possible product or service. The expression “customer is always right,” works because no one wants to lose their customers.Currently, according to blockchain.com, there are used 34 million people who hold their funds in Bitcoin. The remaining number of users is difficult to calculate, but according to our modest calculations, there are at least 2 times more other users in any other currency.
This suggests that there is still a great demand on the market for services of safe storage and exchange of cryptocurrency assets.

7 Bounty

Bounty is a reward of users for PR-activity: subscriptions on forums, maintenance of topics in local language versions, translation of documents into a local language, publications in social networks, blogs and so on.
The terms of the bounty are published in the user profile of the section Terms and conditions of the bounty campaign.
To participate in the bounty campaign, bounty hunter, you need to register on the site PORTBITX.
You agree to the terms and conditions of the Bounty campaign if you register and do Bounty Hunt.
Tasks and their description are listed in the special section “Bounty Hunt”.
Each task is individual and has its own characteristics, so bounty hunters are invited to carefully study the conditions of each task.
Rewards are described in each task separately. The results of remuneration depend on the correct execution of the task.The remuneration is charged to the user’s personal account in the personal account.
There is also a payment history for completed tasks.
After the last fundraising stage, all information will be deleted in favor of the anonymity of users. We will also delete information about site visits and personal information that was required to specify to receive a reward. In the case of a request by third parties for data, we did not have information that could harm bounty hunters.
The bounty budget is 14,325,893 PORTBITX.
The distribution of tokens in stages is as follows:
Stage 1 – 6,325,000 PORTBITX;
Stage 2 – 4 000 000 PORTBITX;
Stage 3 – 4 000 893 PORTBITX.
Distribution of PORTBITX tokens:
If the ICO is not successful, the invested funds will be returned to investors, and the reward for bounty hunters will be canceled.
For this reason, we regulate and monitor the social activity of the bounty hunters so that the conduct of all ICO stages is successful.
For bounty campaigns, an application to the technical department is provided in order to correct them immediately in case of errors, as well as to assist the bounty hunters in carrying out their tasks.
We are building a healthy community, so we ask that the personal opinion and evaluation of the project PORTBITX of each participant be objective and adequate.
Each participant in the campaign bounty is our representative, and for us it is important to have a clear understanding of the face of responsibility and benefit that the community carries out.

8 Market

On the market there are many companies involved in the exchange and storage of cryptocurrency assets.
The number of such services is more than 16,000 and this is not the limit, but it is precisely in the face of fierce competition that truly unique and competitive projects are born.
This market situation motivates us to create a truly useful and necessary service in order to make the range of our service available to a wide range of people.
Recently, according to Google Trends, interest in cryptocurrency has fallen significantly. Now interest has rolled back to the area of ​​2016-17.
Cryptocurrency industry continues to function and develop. Now on the blockchain, you can create your own e-government, your own elections and currency, everything is limited only by the imagination of all industry participants.
The ecosystem is actively developing for the use of cryptocurrency in trading operations. Governments and regulators in different countries are seeking greater transparency in the cryptocurrency industry.
Some, such as the Japanese government, license and regulate crypto exchange and services. In Japan, cryptocurrency has long been accepted as a means of payment in many outlets. In states with despotic regimes and an unstable economy, one of the few tools for the preservation and enhancement of assets is Bitcoin, for this reason in these countries the rate can differ greatly from the average market rate.
The financial crisis and the instability of markets around the world continues to cause fear among people. In some countries want to ban circulation of dollars. Gold cannot be bought in the usual way and owners may experience some difficulties in working with it. Gold has long ceased to be a means of payment.
The priority for us is the safe storage of cryptocurrency assets, maximum user convenience and integration, the popularization of the cryptoindustry in everyday life.
In order for cryptocurrency assets to be used and an integral part of human activity, we want to form a stable market. At the moment, the capitalization of the entire market for a number of years fluctuates in the range of $ 100– $ 300 billion. The range of exchange operations ranges from $ 13-16 billion per day. The number of cryptocurrency assets represented on the markets is more than 2000 types.
The dominance of the main cryptocurrency Bitcoin is in the range of 49-52% of the entire market.
The tendency to reduce the main quotes scares potential investors, but this is not a reason for surrendering positions to a multi-million dollar audience of crypto enthusiasts. The reason why people continue to create new projects and new systems for exchange and transactional systems is the benefits they bring to humanity. In the market, as well as around the world, there are many unscrupulous developers who need to fight.
We are engaged in creating and securing the credibility of the cryptoindustry so that the user can choose a reliable service or network, and not imposed by anyone. This is one of the fundamental aspects of a free community. The right of choice for the user, “the client is always right” is an integral part of the philosophy of the PORTBITX project. By the level of their responsibility, transparency, advanced thought, innovation, in the future, the work of PORTBITX will judge all cryptomir. The better we, PORTBITX work for the good of society, the more trust we have and the more users use the PORTBITX service.
PORTBITX is part of a new culture, part of an ecosystem where the core value is reputation based on trust. This is a project where reputation is more important than money, and utility and service to people is more important than ostentatious hospitality and external gloss, and the safety of the assets of our project participants is more important than our profit indicators.
Capitalization is growing steadily from year to year.
At the beginning of 2017, the capacity of the crypto market was around $ 19 billion. Now capitalization has grown to $ 200 billion. The growth is colossal, but the market is still young and there will be many more challenges on the way to which all market participants will have to respond. And our participants will be the most prepared.
The number of new blockchains and new projects is growing, and the number of participants in the crypto market is also growing. As a result, the attitude of people to the cryptoindustry is changing for the better, just like the cryptoindustry itself.
In 2017, the known cryptocurrency assets were less than 800 species, but now their number has grown. Now on the market represented more than 2,000 species.
Not all assets are honest, there are those whose purpose is to obtain short-term profits, which badly affects the reputation and trust in the cryptoindustry. But, if we recall the story of the beginning of our amazing world, then the price for one Bitcoin was $ 0.00000003. Since then, the situation in the cryptoindustry has changed dramatically.In the future, the cryptoindustry market is waiting for great popularity and that is why reliable and honest services for the storage and exchange of cryptocurrency assets like our project will be needed.
Sharp volatility is such because the market is relatively young and has not reached even a tenth of its potential and capitalization. Therefore, the time in which we live is just a starting point. The world has already passed the Rubicon and there is a long and interesting road ahead.
The potential market we can serve in the future is more than one billion users. Now this market is slightly less than 50 million users.
Experts expect that in the future cryptocurrencies will replace the official fiat money.

9 Product

PORTBITX is a digital portal for storing, exchanging and trading cryptocurrency assets, as well as a platform for selling goods and services for cryptocurrency.
The service is managed by the community by voting. Voting topics are offered through a special application in the voting section.
Service has three main areas.
Secure storage of cryptocurrency.
Secure storage of over 1500 different cryptoactive assets. Safety is ensured by safe cold the repository.
The service itself is not directly connected to the repository to prevent the penetration of potentially dangerous programs. The security of user data in the service itself is protected by a local block chain. The entire database and operations are recorded on the principle of a distributed registry. Hacking one server should do this with hundreds of others located in different places. Mining in this block chain is not performed because all the costs of maintaining such security are borne by the service itself.
The PORTBITX development team is fully responsible for the security of cryptocurrency assets and for the operation of the service. One of the most vulnerable links in the safety chain is the human factor (concerns not only users, but also developers). For this reason, it is necessary to double-check scenarios, conduct stress testing and carefully select personnel.
Exchange
This is a portal for exchanging all available cryptocurrency assets for any other. The number of assets available on the portal will be recorded in the blockchain for a reliable display of the volume, the number of wallets, users and information on all the operations performed since the launch of the main network will also be indicated in the blockchain.
Any cryptocurrency asset can be exchanged for any other if it is in demand. The market decides for itself how and in what to trade. All exchange orders will be visible in online charts. Potentially, we will add more than 2,500,000 pairs to the portal, but not immediately, but in parts and as each cryptocurrency asset is checked. Also the choice for coins or tokens will always be behind the PORTBITX community. After each vote, all results will be published in the section “Voting” and on the official website of the service.
The portal has a convenient interface and an open registry, i.e. users will be able to monitor and control the network with developers. Also, with certain voting results, there may be additions to the network.In the future, we want to release the service in free navigation and stop controlling the network. If we succeed, we will open source code and create jobs for miners.
Marketplace
Marketplace is valid for the sale of services and products for cryptocurrency. High-quality and convenient service. All transactions on the Marketplace are recorded in the main register of the local blockchain. A wide range of products available advertising products and services, two types of payment (with a guarantee and with a reputation) to choose from.
The following portal functionality:
Voting / referendum
An important component of the PORTBITX portal is voting / referendum.
A variety of topics and surveys can be submitted to a vote, directly related to the PORTBITX community and the portal itself. For example, changes in tariff rates, adding new tokens, adding new services and additions to the service.
The right to vote is the right to decide the fate of the community, the right to find the best solution to the problems, the right to be free, honest and fair.
One voice is 5000 PORTBITX. (this limit can be lowered if the community decides on a general vote).
Since tokens can be sold on third-party services, they cannot automatically take part in voting. Also, all available tokens on the portal should be frozen for a period of voting that lasts no more than 24 hours, starting at 00:00 Central European Time.
Tokens are frozen through the user’s personal account in the voting section.Persons who do not have enough tokens for voting, but having the right to profit PORTBITX have the opportunity to see the voting results, as well as to make their proposals for the next vote.
Persons who do not have enough tokens for the right to vote and the right to profit will have the opportunity to group together for collective voting.
Results and coverage of all voting results will be immediately published after the end on the portal’s main page.
A vote is considered legitimate if a quorum gains 65% of the total number of votes. The decision on the outcome of the vote can be made if the number of those who agreed to 100% of those who participated in the vote is 60%. Voting can be repeated if uncrowded by a majority. In this case, the proposal will be revised. The deadline for a deferred vote may pass unplanned within two weeks after the end of the first vote. If, in the second ballot, the majority of votes will also not reach the bulk of 60%, then this issue will be postponed or canceled and will not be considered within the next 6 months.
The right to vote is not just an opportunity to influence the portal, it is the will of the community that developers must obey.
The right to profit
The right to profit is obtained by freezing tokens through the user’s personal account for a period of at least one month. The number of tokens needed to make a profit of at least 1000 PORTBITX.
The calculation of the distribution of profits are as follows.
All profits from all services provided by the service for a certain period of time in the tokens in which the activity was performed are distributed in relation to all community members who have frozen the tokens directly on the service portal. The profit is distributed in the same currencies in which it was received on the service.
In the event that the frozen asset of the PORTBITX tokens is defrosted ahead of time, then the profit it receives during this period will be distributed among the other participants whose tokens remain frozen.
Participation in the project is proved by deed and rewarded, in all fairness.
All profits, namely the estimated profits of users during and at the end of the period can be tracked and seen in the registry on the main page accessible to all interested parties.
PORTBITX developers do not hide revenues and honestly share them with the community.
Each user has the opportunity to check the registry and find their own account.Maximum openness and transparency is the key to trust and success of the service.

10 Road Map

11 Economy and Demand

All information on the movement of funds and their spending will be published on the official website of the company in a special reporting form.
All actions performed by PORTBITX will be covered in the news section of the company’s website.The voting results and the timing of their holding, as well as the topics discussed for voting will be in the user’s personal account in the “voting” section.To date, only about 80 million people have a cryptocurrency, store it or use it in payments.
Now there’s practically no way to find a person who hasn’t heard about bitcoin or blockchain at least once. The cause of mistrust is people who undermine the true face and good intentions of the founding pioneers of the cryptoindustry.
The market is too small and hypervolatil, but this trend will continue only for some time, until the total market capitalization reaches 1 trillion. USD This milestone will further open the way to even more people who want to be part of the crypto world. A larger number of participants will make this market more stable and less prone to hypervolatility.Unfortunately, there are many scammers and individuals who undermine the basis of the industry, and its usefulness. Therefore, the PORTBITX development team creates a service safe for the safety of users’ funds.
According to statistics provided by Blockchain.com from March 2018 to February 2019, the number of new users who registered new cryptocurrency wallets increased from 23 million to 33 million. Based on the data obtained, it can be concluded that there is a need for reliable storage of their cryptocurrency assets.
The year 2019 is a preparatory platform for an even larger number of users, so we decided to create a portal for the ecosystem of the cryptocurrency industry.

12 Project Team

One of the important factors in the decision making for an investor is the transparency and fame of the team that works on the project. An investor can check team members, evaluate and decide on investments. The knowledge and experience of the team is a kind of guarantee that the project will be implemented, but as is often the case in real life, this may be far from reality.
In the cryptoindustry, nothing can be 100% sure. Any ICO defaults to scam.
If you have doubts about our decency, we suggest investing a small amount.
By collecting the minimum amount, we will demonstrate in practice that we are credible, because our goal is to benefit the community.
Founders of PORTBITX
Co-founder and Technical Director Steve Man
Co-founder and CEO of CharleySJ
Director of Marketing and Public Relations MAD Phoenix
Director of Methodology and Legal Support at PenA

13 Investments

The minimum capitalization of the project at the first stage is 1,450 ETH.
The minimum total capitalization of the project will be 56,000 ETH.
The maximum capitalization of the project can reach more than 160,450 ETH.
Tokens will be issued in the amount of 143,258,928.57142.
Share will be up to 8 decimal places. ICO is calculated in three stages.
We create a product that meets modern requirements and market challenges. Additional issue is not provided. After the last stage of the ICO, all assets not sold will be destroyed.
We initially limit the emission of tokens in order to avoid a large amount of excess asset. Being part of the PORTBITX community means having the privilege of voting and profit of the service. And that means – to understand the idea and share the philosophy of the cryptoindustry and with full responsibility to approach the decisions that will affect the community.
The opportunity to receive a bonus will be among the participants of the Bounty campaign and among ICO investors, but by decision of the crypto community.
Return of investment will be carried out in several ways.
By obtaining distributed service profit
Due to the possibility of selling a token at the market price, which can be ten times higher than the initial cost.
The token will be based on the ERC20.
The predicted price of a token at the end of an ICO can be about $ 3.7.
The projected service revenue for the first year may be more than $ 500 million.
Pricing can be changed if there is an ETH price manipulation before release.
The news about the name and the release of tokens will be announced in the official news, so you should not give in to manipulation.

14 ICO Features

Jurisdiction: Blockchain
The number of tokens is 143 million.
On ICO 80.225 million
On a bounty campaign of 14.3 million
The developers and founders of 34.382 million, and the maintenance of the service 14.3 million.
Distribution will be carried out automatically.
The following fundraising is provided:
Stage 1 – 1,450 ETH
Stage 2 – 10,000 ETH
Stage 3 – 149,000 ETH
Pricing and limits
1st stage ICO
1 PBX = 0.002 ETH
1 ETH / 0.002 = 500 PBX
5 ETH / 0.0015 = 3 333.33333333 PBX
10 ETH / 0.001 = 10,000 PBX
Rules of the first stage:
The minimum amount to raise funds 1,450
Price is limited to pricing policy.
Bounty company 6 million
Refund in case of not reaching the minimum amount to raise funds
2nd stage ICO
1 PBX / 0.003 ETH
1 ETH / 0.003 = 333.33333333 PBX
5 ETH / 0.0025 = 2,000 PBX
10 ETH / 0.002 = 5,000 PBX
3rd stage ICO
1 PBX / 0.004 ETH
0.5 ETH / 0.004 = 125 PBX
1 ETH / 0.0035 = 285.71428571 PBX
5 ETH / 0.003 = 1 666.66666666 PBX
10 ETH / 0.0025 = 4,000 PBX

15 Legal aspects

Placement of the company – Blockchain. This is due to the fact that we approach the project with full responsibility and are aware of the consequences of our actions, as well as due to pressure from some states and their unfriendly policy to the cryptoindustry.
Also, the service will not be present fiatnye currency, as their existence is not combined with the philosophy of our company. We will temporarily not specify the location of the company, as well as disclose the names of developers for the safety of their rights to life, health and freedom.
Since we consider ourselves a free community, some data for the sake of security for the sake of this freedom will be hidden from outsiders.
We guarantee a refund in case of unsuccessful first stage at 100% minus the miners commission.
This is important because the tools incorporated in the first stage are necessary for creating the kernel and the subsequent imposition of software modules.
We considered options for direct investment in the project from private investors, but since these investors could influence our strategy and policies, and since they could take some of the functions from the community, we decided to invest in our project as a community by Ico.
The risk of investing in our project, of course, is great, but we want to build a really useful service for the industry as a whole and for each user of the service separately. Therefore, we enable the community to judge us by our work.
submitted by Portbitx to u/Portbitx [link] [comments]

White Paper

We are a free society united by the basic idea of ​​freedom and justice, separated from geographical, religious, ethnic and gender prejudices, we reaffirm this document, and we promise to protect freedom and benefit people always and everywhere.

PortBitX Project

The PORTBITX project team creates a service whose main idea is to provide a mobile and convenient system where users and cryptocurrency owners can receive a wide range of services.

1 The essence of the project

The project team asks you to support the creation of a high-tech, simple, convenient and honest ecosystem for people who need to protect their rights and freedoms and use the right to be anonymous and financially independent. The mission of the project is to create a service for storing and exchanging cryptocurrency assets, and also to become a tool allowing to conduct trading operations regardless of geographic location or language skills.
Advantages of the project:

2 State of affairs

Owing to ignorance or low awareness of people about the nature of cryptocurrency assets, cryptoindustry is mythologized in modern society. This applies to both ordinary people and officials in authority.
As a rule, in the minds of people there is more confidence in traditional financial instruments than in technology during their development, for example blockchain (the inability to change the information block / blockchain chain). History knows many examples when the governments of different countries, guided by the interests of their citizens, inadvertently led to the decline of advanced civil initiatives. This time is a period of complex formation of crypto-economics and state relations, which is still in the making.
The project that we present to your attention has no borders between countries and peoples. And we, a group of enthusiasts, would very much like to cooperate with large government organizations. But, to our deep regret, the states currently at the stage of formation of their cryptocurrency policies make mistakes that negatively affect the crypto community.
The market of cryptocurrency assets, which has a ten-year history of development, is very sensitive to various statements by officials. However, unqualified criticism cannot withstand the global trend. And no one can stop the future.
With all the desire, time does not stand still, technologies themselves continue to evolve, new technologies, new projects, new views that can be upgraded in the distant future, as well as processes of government and regulation themselves, to introduce innovative elements into them. We do not expect the distant future, and many tools are available now. And we have something to offer you.
This is especially relevant against the backdrop of the upcoming global financial crisis, with the inevitable decline in trust in state financial institutions; cryptocurrency have high chances of becoming more popular in the absence of other technological alternatives. As we noted earlier, there is a lack of awareness among people about Blockchain technology and cryptocurrencies. These technologies are extremely undervalued, since there is much more benefit in them than one can imagine. In the cryptocurrency assets industry itself, there are fraudsters at this time who are trying to steal or fraudulently get your money.
At the same time, there are many honest crypto projects that can not be realized due to stereotypes of perception of them as fraudulent. Objectively, they could be judged by their work and projects that have been successfully implemented. In principle, it is necessary to be cautious in terms of investing in any projects, even if they are guaranteed by reputable people or companies. No reputable person or company can match the level of guarantee and security of your assets, as in the Bitcoin blockchain. In any case, the decision to invest is yours, not imposed by restrictions, and the responsibility lies with you.
According to Road Map, we intend to fulfill all the terms of the agreement with our participants. We do not promise you a high yield of our tokens, we put all our experience into the overall welfare of the project and each user. There will be no delisting on the service until the community votes for the opposite. Our risk is collective. We urge you to make an adequate and balanced choice, instead of imposing any other opinion on you. We are not supporters of aggressive marketing. There are many cryptocurrency assets and it’s difficult for a regular user to store and exchange them, as well as use them in everyday life.

3 Disadvantages:

These are problems that affect users and cryptocurrency in general.

4 Solution

The PORTBITX project guarantees compliance with all of its obligations and user rights.
We integrate community communications into our PORTBITX service.
Users are offered the following functions:

5 Competitors

Direct market competitors are all decentralized and centralized services related to the purchase or sale of cryptoactive assets, as well as services that provide storage services on a cold or hot crypto wallet. More than 16 thousand services and more than 2 thousand types of cryptocurrency assets. We have the opportunity to offer our clients a reliable and open service for the storage and exchange of cryptocurrency assets.
The main competitors are such large cryptocurrency exchanges like Binance, Bitfinix, Bitrix, etc. These multibillion-dollar projects that can affect the entire market and regulate pricing also have millions of crypto communities. This position is deserved by their work. There are, of course, disadvantages associated with the opacity of their activities, unlike us, but in general they play an important role in the cryptoindustry. Their trading volumes are impressive and inspiring, their mistakes lead to sharp price fluctuations in the crypto market.
There are still crypto exchange. In comparison with the leaders, they are significantly inferior in the volume and number of users. These exchanges include the bulk of all crypto exchanges on the market. There are also exchange services on the market that allow you to exchange fiat money for cryptocurrency assets. Most often the commission is quite expensive. For example, they can range from 1% to 20%. Such a high commission can be explained by the fact that the locations where buyers and sellers are located have government restrictions or are prohibited.
In addition to all of the above, there are closed groups in social networks or instant messengers. There, people discuss and agree on the price and method of payment. Commissions are often not high from 0% to 5%, but one should not hope that such operations can be safe, since personal meetings are always accompanied by a risk to life or health. Exchange transactions in the onion network may have no guarantees at all that the transaction will be successful. In deep web, everything works on credibility / reputation, and the higher the seller’s rating, the higher the likelihood of a successful outcome of the transaction. In the same place, you can sell tagged or stolen cryptocurrency assets. For this, there are special mixing sites to hide the criminal trail. These types of exchange operations are the most unreliable.
For this reason, one of the safest types of exchange operations is large centralized cryptocurrency exchanges. Such centralized services, sometimes using their position, impose their own rules, which leads to a loss of users’ material values. PORTBITX is designed to empower cryptographic protection for maximum convenience and simplicity, as well as to protect the funds and personal data of users. PORTBITX connects all cryptocurrency assets into one transport hub and creates highly efficient curvilinear isolation of the currency to make cryptocurrency as safe and close to people as possible.

6 Segment

A registered user of the PORTBITX portal can be any person supporting the general idea of ​​a free society. Our users are anonymous and financially independent, with the right to vote and the right to receive common incomes obtained by the operation of the portal and the activity of the crypto community PORTBITX. For whom we create a service:
It can be ordinary housewives, entrepreneurs, unemployed, self-employed, freelancers, people who invest in the future, wealthy investors, etc. One of the advantages of the service is anonymity, which gives anyone the right to save and earn around the world online, without fear that tomorrow they will be forced to pay some strange fees or licenses. Service users are interested in the distribution and real use of cryptocurrency. Self-regulating community PORTBITX, respecting the rights of all project participants.
Service users are:
For trust in the trade service there will be a seller rating for all types of goods and services presented. There will be a book of reviews about each seller, where each buyer has the right to leave a review about the product or service. This scheme is actively used in Darknet. The basic principle: the more positive reviews, the more trust. Each seller values ​​his authority and thus provides the best possible product or service. The expression “customer is always right,” works because no one wants to lose their customers. Currently, according to blockchain.com, there are used 34 million people who hold their funds in Bitcoin. The remaining number of users is difficult to calculate, but according to our modest calculations, there are at least 2 times more other users in any other currency. This suggests that there is still a great demand on the market for services of safe storage and exchange of cryptocurrency assets.

7 Bounty

Bounty is a reward of users for PR-activity: subscriptions on forums, maintenance of topics in local language versions, translation of documents into a local language, publications in social networks, blogs and so on. The terms of the bounty are published in the user profile of the section Terms and conditions of the bounty campaign. To participate in the bounty campaign, bounty hunter, you need to register on the site PORTBITX.
You agree to the terms and conditions of the Bounty campaign if you register and do Bounty Hunt. Tasks and their description are listed in the special section “Bounty Hunt”.
Each task is individual and has its own characteristics, so bounty hunters are invited to carefully study the conditions of each task. Rewards are described in each task separately. The results of remuneration depend on the correct execution of the task. The remuneration is charged to the user’s personal account in the personal account.
There is also a payment history for completed tasks.
After the last fundraising stage, all information will be deleted in favor of the anonymity of users. We will also delete information about site visits and personal information that was required to specify to receive a reward. In the case of a request by third parties for data, we did not have information that could harm bounty hunters.
The bounty budget is 14,325,893 PORTBITX. The distribution of tokens in stages is as follows:
Stage 1 – 6,325,000 PORTBITX; Stage 2 – 4 000 000 PORTBITX; Stage 3 – 4 000 893 PORTBITX.
Distribution of PORTBITX tokens:
If the ICO is not successful, the invested funds will be returned to investors, and the reward for bounty hunters will be canceled.
For this reason, we regulate and monitor the social activity of the bounty hunters so that the conduct of all ICO stages is successful. For bounty campaigns, an application to the technical department is provided in order to correct them immediately in case of errors, as well as to assist the bounty hunters in carrying out their tasks.
We are building a healthy community, so we ask that the personal opinion and evaluation of the project PORTBITX of each participant be objective and adequate. Each participant in the campaign bounty is our representative, and for us it is important to have a clear understanding of the face of responsibility and benefit that the community carries out.

8 Market

On the market there are many companies involved in the exchange and storage of cryptocurrency assets. The number of such services is more than 16,000 and this is not the limit, but it is precisely in the face of fierce competition that truly unique and competitive projects are born.
This market situation motivates us to create a truly useful and necessary service in order to make the range of our service available to a wide range of people. Recently, according to Google Trends, interest in cryptocurrency has fallen significantly. Now interest has rolled back to the area of ​​2016-17.
Cryptocurrency industry continues to function and develop. Now on the blockchain, you can create your own e-government, your own elections and currency, everything is limited only by the imagination of all industry participants.
The ecosystem is actively developing for the use of cryptocurrency in trading operations. Governments and regulators in different countries are seeking greater transparency in the cryptocurrency industry.
Some, such as the Japanese government, license and regulate crypto exchange and services. In Japan, cryptocurrency has long been accepted as a means of payment in many outlets. In states with despotic regimes and an unstable economy, one of the few tools for the preservation and enhancement of assets is Bitcoin, for this reason in these countries the rate can differ greatly from the average market rate.
The financial crisis and the instability of markets around the world continues to cause fear among people. In some countries want to ban circulation of dollars. Gold cannot be bought in the usual way and owners may experience some difficulties in working with it. Gold has long ceased to be a means of payment.
The priority for us is the safe storage of cryptocurrency assets, maximum user convenience and integration, the popularization of the cryptoindustry in everyday life.
In order for cryptocurrency assets to be used and an integral part of human activity, we want to form a stable market. At the moment, the capitalization of the entire market for a number of years fluctuates in the range of $ 100– $ 300 billion. The range of exchange operations ranges from $ 13-16 billion per day. The number of cryptocurrency assets represented on the markets is more than 2000 types.
The dominance of the main cryptocurrency Bitcoin is in the range of 49-52% of the entire market.
The tendency to reduce the main quotes scares potential investors, but this is not a reason for surrendering positions to a multi-million dollar audience of crypto enthusiasts. The reason why people continue to create new projects and new systems for exchange and transactional systems is the benefits they bring to humanity. In the market, as well as around the world, there are many unscrupulous developers who need to fight.
We are engaged in creating and securing the credibility of the cryptoindustry so that the user can choose a reliable service or network, and not imposed by anyone. This is one of the fundamental aspects of a free community. The right of choice for the user, “the client is always right” is an integral part of the philosophy of the PORTBITX project. By the level of their responsibility, transparency, advanced thought, innovation, in the future, the work of PORTBITX will judge all cryptomir. The better we, PORTBITX work for the good of society, the more trust we have and the more users use the PORTBITX service.
PORTBITX is part of a new culture, part of an ecosystem where the core value is reputation based on trust. This is a project where reputation is more important than money, and utility and service to people is more important than ostentatious hospitality and external gloss, and the safety of the assets of our project participants is more important than our profit indicators.
Capitalization is growing steadily from year to year.
At the beginning of 2017, the capacity of the crypto market was around $ 19 billion. Now capitalization has grown to $ 200 billion. The growth is colossal, but the market is still young and there will be many more challenges on the way to which all market participants will have to respond. And our participants will be the most prepared.
The number of new blockchains and new projects is growing, and the number of participants in the crypto market is also growing. As a result, the attitude of people to the cryptoindustry is changing for the better, just like the cryptoindustry itself. In 2017, the known cryptocurrency assets were less than 800 species, but now their number has grown. Now on the market represented more than 2,000 species.
Not all assets are honest, there are those whose purpose is to obtain short-term profits, which badly affects the reputation and trust in the cryptoindustry. But, if we recall the story of the beginning of our amazing world, then the price for one Bitcoin was $ 0.00000003. Since then, the situation in the cryptoindustry has changed dramatically. In the future, the cryptoindustry market is waiting for great popularity and that is why reliable and honest services for the storage and exchange of cryptocurrency assets like our project will be needed.
Sharp volatility is such because the market is relatively young and has not reached even a tenth of its potential and capitalization. Therefore, the time in which we live is just a starting point. The world has already passed the Rubicon and there is a long and interesting road ahead. The potential market we can serve in the future is more than one billion users. Now this market is slightly less than 50 million users. Experts expect that in the future cryptocurrencies will replace the official fiat money.

9 Product

PORTBITX is a digital portal for storing, exchanging and trading cryptocurrency assets, as well as a platform for selling goods and services for cryptocurrency. The service is managed by the community by voting. Voting topics are offered through a special application in the voting section.
Service has three main areas.
Secure storage of cryptocurrency.
Secure storage of over 1500 different cryptoactive assets. Safety is ensured by safe cold the repository. The service itself is not directly connected to the repository to prevent the penetration of potentially dangerous programs. The security of user data in the service itself is protected by a local block chain. The entire database and operations are recorded on the principle of a distributed registry. Hacking one server should do this with hundreds of others located in different places. Mining in this block chain is not performed because all the costs of maintaining such security are borne by the service itself. The PORTBITX development team is fully responsible for the security of cryptocurrency assets and for the operation of the service. One of the most vulnerable links in the safety chain is the human factor (concerns not only users, but also developers). For this reason, it is necessary to double-check scenarios, conduct stress testing and carefully select personnel.
Exchange
This is a portal for exchanging all available cryptocurrency assets for any other. The number of assets available on the portal will be recorded in the blockchain for a reliable display of the volume, the number of wallets, users and information on all the operations performed since the launch of the main network will also be indicated in the blockchain.
Any cryptocurrency asset can be exchanged for any other if it is in demand. The market decides for itself how and in what to trade. All exchange orders will be visible in online charts. Potentially, we will add more than 2,500,000 pairs to the portal, but not immediately, but in parts and as each cryptocurrency asset is checked. Also the choice for coins or tokens will always be behind the PORTBITX community. After each vote, all results will be published in the section “Voting” and on the official website of the service.
The portal has a convenient interface and an open registry, i.e. users will be able to monitor and control the network with developers. Also, with certain voting results, there may be additions to the network. In the future, we want to release the service in free navigation and stop controlling the network. If we succeed, we will open source code and create jobs for miners.
Marketplace
Marketplace is valid for the sale of services and products for cryptocurrency. High-quality and convenient service. All transactions on the Marketplace are recorded in the main register of the local blockchain. A wide range of products available advertising products and services, two types of payment (with a guarantee and with a reputation) to choose from.
The following portal functionality:
Voting / referendum
An important component of the PORTBITX portal is voting / referendum. A variety of topics and surveys can be submitted to a vote, directly related to the PORTBITX community and the portal itself. For example, changes in tariff rates, adding new tokens, adding new services and additions to the service. The right to vote is the right to decide the fate of the community, the right to find the best solution to the problems, the right to be free, honest and fair. One voice is 5000 PORTBITX. (this limit can be lowered if the community decides on a general vote).
Since tokens can be sold on third-party services, they cannot automatically take part in voting. Also, all available tokens on the portal should be frozen for a period of voting that lasts no more than 24 hours, starting at 00:00 Central European Time. Tokens are frozen through the user’s personal account in the voting section. Persons who do not have enough tokens for voting, but having the right to profit PORTBITX have the opportunity to see the voting results, as well as to make their proposals for the next vote. Persons who do not have enough tokens for the right to vote and the right to profit will have the opportunity to group together for collective voting. Results and coverage of all voting results will be immediately published after the end on the portal’s main page.
A vote is considered legitimate if a quorum gains 65% of the total number of votes. The decision on the outcome of the vote can be made if the number of those who agreed to 100% of those who participated in the vote is 60%. Voting can be repeated if uncrowded by a majority. In this case, the proposal will be revised. The deadline for a deferred vote may pass unplanned within two weeks after the end of the first vote. If, in the second ballot, the majority of votes will also not reach the bulk of 60%, then this issue will be postponed or canceled and will not be considered within the next 6 months. The right to vote is not just an opportunity to influence the portal, it is the will of the community that developers must obey.
The right to profit
The right to profit is obtained by freezing tokens through the user’s personal account for a period of at least one month. The number of tokens needed to make a profit of at least 1000 PORTBITX. The calculation of the distribution of profits are as follows. All profits from all services provided by the service for a certain period of time in the tokens in which the activity was performed are distributed in relation to all community members who have frozen the tokens directly on the service portal. The profit is distributed in the same currencies in which it was received on the service.
In the event that the frozen asset of the PORTBITX tokens is defrosted ahead of time, then the profit it receives during this period will be distributed among the other participants whose tokens remain frozen. Participation in the project is proved by deed and rewarded, in all fairness. All profits, namely the estimated profits of users during and at the end of the period can be tracked and seen in the registry on the main page accessible to all interested parties. PORTBITX developers do not hide revenues and honestly share them with the community. Each user has the opportunity to check the registry and find their own account. Maximum openness and transparency is the key to trust and success of the service.

10 Road Map

11 Economy and Demand

All information on the movement of funds and their spending will be published on the official website of the company in a special reporting form. All actions performed by PORTBITX will be covered in the news section of the company’s website. The voting results and the timing of their holding, as well as the topics discussed for voting will be in the user’s personal account in the “voting” section. To date, only about 80 million people have a cryptocurrency, store it or use it in payments. Now there’s practically no way to find a person who hasn’t heard about bitcoin or blockchain at least once. The cause of mistrust is people who undermine the true face and good intentions of the founding pioneers of the cryptoindustry.
The market is too small and hypervolatil, but this trend will continue only for some time, until the total market capitalization reaches 1 trillion. USD This milestone will further open the way to even more people who want to be part of the crypto world. A larger number of participants will make this market more stable and less prone to hypervolatility. Unfortunately, there are many scammers and individuals who undermine the basis of the industry, and its usefulness. Therefore, the PORTBITX development team creates a service safe for the safety of users’ funds. According to statistics provided by Blockchain.com from March 2018 to February 2019, the number of new users who registered new cryptocurrency wallets increased from 23 million to 33 million. Based on the data obtained, it can be concluded that there is a need for reliable storage of their cryptocurrency assets. The year 2019 is a preparatory platform for an even larger number of users, so we decided to create a portal for the ecosystem of the cryptocurrency industry.

12 Project Team

One of the important factors in the decision making for an investor is the transparency and fame of the team that works on the project. An investor can check team members, evaluate and decide on investments. The knowledge and experience of the team is a kind of guarantee that the project will be implemented, but as is often the case in real life, this may be far from reality. In the cryptoindustry, nothing can be 100% sure. Any ICO defaults to scam. If you have doubts about our decency, we suggest investing a small amount. By collecting the minimum amount, we will demonstrate in practice that we are credible, because our goal is to benefit the community. Founders of PORTBITX Co-founder and Technical Director Steve Man Co-founder and CEO of CharleySJ Director of Marketing and Public Relations MAD Phoenix Director of Methodology and Legal Support at PenA

13 Investments

The minimum capitalization of the project at the first stage is 1,450 ETH. The minimum total capitalization of the project will be 56,000 ETH. The maximum capitalization of the project can reach more than 160,450 ETH. Tokens will be issued in the amount of 143,258,928.57142. Share will be up to 8 decimal places. ICO is calculated in three stages. We create a product that meets modern requirements and market challenges. Additional issue is not provided. After the last stage of the ICO, all assets not sold will be destroyed.
We initially limit the emission of tokens in order to avoid a large amount of excess asset. Being part of the PORTBITX community means having the privilege of voting and profit of the service. And that means – to understand the idea and share the philosophy of the cryptoindustry and with full responsibility to approach the decisions that will affect the community. The opportunity to receive a bonus will be among the participants of the Bounty campaign and among ICO investors, but by decision of the crypto community. Return of investment will be carried out in several ways. By obtaining distributed service profit Due to the possibility of selling a token at the market price, which can be ten times higher than the initial cost. The token will be based on the ERC20. The predicted price of a token at the end of an ICO can be about $ 3.7. The projected service revenue for the first year may be more than $ 500 million. Pricing can be changed if there is an ETH price manipulation before release. The news about the name and the release of tokens will be announced in the official news, so you should not give in to manipulation.

14 ICO Features

Jurisdiction: Blockchain The number of tokens is 143 million. On ICO 80.225 million On a bounty campaign of 14.3 million The developers and founders of 34.382 million, and the maintenance of the service 14.3 million. Distribution will be carried out automatically. The following fundraising is provided: Stage 1 – 1,450 ETH Stage 2 – 10,000 ETH Stage 3 – 149,000 ETH Pricing and limits 1st stage ICO 1 PBX = 0.002 ETH 1 ETH / 0.002 = 500 PBX 5 ETH / 0.0015 = 3 333.33333333 PBX 10 ETH / 0.001 = 10,000 PBX Rules of the first stage: The minimum amount to raise funds 1,450 Price is limited to pricing policy. Bounty company 6 million Refund in case of not reaching the minimum amount to raise funds 2nd stage ICO 1 PBX / 0.003 ETH 1 ETH / 0.003 = 333.33333333 PBX 5 ETH / 0.0025 = 2,000 PBX 10 ETH / 0.002 = 5,000 PBX 3rd stage ICO 1 PBX / 0.004 ETH 0.5 ETH / 0.004 = 125 PBX 1 ETH / 0.0035 = 285.71428571 PBX 5 ETH / 0.003 = 1 666.66666666 PBX 10 ETH / 0.0025 = 4,000 PBX

15 Legal aspects

Placement of the company – Blockchain. This is due to the fact that we approach the project with full responsibility and are aware of the consequences of our actions, as well as due to pressure from some states and their unfriendly policy to the cryptoindustry. Also, the service will not be present fiatnye currency, as their existence is not combined with the philosophy of our company. We will temporarily not specify the location of the company, as well as disclose the names of developers for the safety of their rights to life, health and freedom. Since we consider ourselves a free community, some data for the sake of security for the sake of this freedom will be hidden from outsiders. We guarantee a refund in case of unsuccessful first stage at 100% minus the miners commission. This is important because the tools incorporated in the first stage are necessary for creating the kernel and the subsequent imposition of software modules. We considered options for direct investment in the project from private investors, but since these investors could influence our strategy and policies, and since they could take some of the functions from the community, we decided to invest in our project as a community by Ico. The risk of investing in our project, of course, is great, but we want to build a really useful service for the industry as a whole and for each user of the service separately. Therefore, we enable the community to judge us by our work.
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